Company: MCHB
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001518715-25-000026
Chunk: 79

Company: Mechanics Bancorp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 8
Chunk 79
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 399,743 Interest expense:Deposits174,252 137,920 Borrowings108,234 95,070 Total interest expense282,486 232,990 Net interest income120,087 166,753 Provision for credit losses— (441)Net interest income after provision for credit losses120,087 167,194 Noninterest income (loss):Net gain (loss) on loan origination and sale activities(76,890)9,346 Loan servicing income 12,497 12,648 Deposit fees8,838 10,148 Other11,170 9,779 Total noninterest income (loss)(44,385)41,921 Noninterest expense:Compensation and benefits107,424 111,064 Information services29,872 29,901 Occupancy21,719 22,241 General, administrative and other37,199 38,809 Goodwill impairment — 39,857 Total noninterest expense196,214 241,872 Income (loss) before income taxes(120,512)(32,757)Income tax (benefit) expense23,832 (5,249)Net income (loss)$(144,344)$(27,508)Net income (loss) per shareBasic$(7.65)$(1.46)Diluted$(7.65)$(1.46)Weighted average shares outstanding:Basic18,857,39218,783,005Diluted18,857,39218,783,005     

See accompanying notes to consolidated financial statements.

46

HOMESTREET, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

 Years Ended December 31,(in thousands)20242023Net income (loss)$(144,344)$(27,508)Other comprehensive income (loss):Unrealized gain (loss) on investment securities available for sale ("AFS")(115)15,535 Reclassification for net (gains) losses included in income— (3)Other comprehensive income (loss) before tax(115)15,532 Income tax impact of:Unrealized gain (loss) on investment securities AFS227 2,862 Reclassification for net (gains) losses included in income— (1)Total 227 2,861 Other comprehensive income (loss