Company: MCHB
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001518715-25-000110
Chunk: 48

Company: Mechanics Bancorp
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 48
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 for loans sold on a servicing-retained and servicing-released basis, included in accounts payable and other liabilities on the consolidated balance sheets of $0.7 million and $1.0 million, respectively. 

NOTE 8–EARNINGS PER SHARE:

The following table summarizes the calculation of earnings (loss) per share:  Quarter Ended June 30,Six Months Ended June 30,(in thousands, except share and per share data)2025202420252024Net income (loss)$(4,412)$(6,238)$(8,877)$(13,735)Weighted average shares: Basic weighted-average number of common shares outstanding18,920,808 18,857,566 18,920,808 18,857,218 Dilutive effect of outstanding common stock equivalents — — — — Diluted weighted-average number of common shares outstanding18,920,808 18,857,566 18,920,808 18,857,218 Net income (loss) per share:Basic earnings per share$(0.23)$(0.33)$(0.47)$(0.73)Diluted earnings per share (1)(0.23)(0.33)(0.47)(0.73)

(1)  Excluded from the computation of diluted earnings per share (due to their antidilutive effect) for the quarters and six months ended June 30, 2025 and 2024 were certain unvested RSUs and PSUs. On a weighted average basis 395,023 and 559,921 unvested stock units convertible into shares of common stock were excluded at June 30, 2025 and 2024, respectively, because their effect would have been anti-dilutive. 

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NOTE 9–FAIR VALUE MEASUREMENT:

The term "fair value" is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The Company's approach is to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements.Fair Value HierarchyA three-level valuation hierarchy has been established under ASC 820 for