Company: MCHB
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001518715-25-000026
Chunk: 49

Company: Mechanics Bancorp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 7
Chunk 49
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306 5.87 %165,568 8,873 5.33 %Total interest-earning assets8,848,233 406,854 4.55 %9,022,356 404,371 4.45 %Noninterest-earning assets 411,000 446,814 Total assets$9,259,233 $9,469,170 Interest-bearing liabilities Interest-bearing deposits: (2)Demand deposits$317,657 $854 0.27 %$385,276 $917 0.24 %Money market and savings1,746,779 29,200 1.66 %2,235,348 30,874 1.37 %Certificates of deposit3,072,605 144,198 4.69 %2,768,594 106,129 3.83 %Total 5,137,041 174,252 3.39 %5,389,218 137,920 2.56 %Borrowings:Borrowings1,981,042 95,883 4.77 %1,752,454 82,861 4.68 %Long-term debt224,950 12,351 5.46 %224,574 12,209 5.41 %Total interest-bearing liabilities7,343,033 282,486 3.82 %7,366,246 232,990 3.15 %Noninterest-bearing liabilities Demand deposits (2)1,284,605 1,430,151 Other liabilities101,235 120,539 Total liabilities8,728,873 8,916,936 Shareholders' equity530,360 552,234 Total liabilities and shareholders’ equity$9,259,233 $9,469,170 Net interest income $124,368 $171,381 Net interest rate spread0.73 %1.30 %Net interest margin1.38 %1.88 %

(1)Includes taxable-equivalent adjustments primarily related to tax-exempt income on certain loans and securities of $4.3 million and $4.6 million for 2024 and 2023, respectively. The estimated federal statutory tax rate was 21% for both 2024 and 2023.

(2)Cost of all deposits, including noninterest-bearing