Company: MCHB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001518715-25-000083
Chunk: 85

Company: Mechanics Bancorp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 85
---
otal risk-based capital (to risk-weighted assets)677,225 12.23 %442,860 8.0 %NANAHomeStreet BankTier 1 leverage capital (to average assets) $678,869 7.30 %$372,132 4.0 %$465,165 5.0 %Common equity Tier 1 capital (to risk-weighted assets)678,869 12.27 %249,000 4.5 %359,667 6.5 %Tier 1 risk-based capital (to risk-weighted assets)678,869 12.27 %332,001 6.0 %442,667 8.0 %Total risk-based capital (to risk-weighted assets)720,498 13.02 %442,667 8.0 %553,334 10.0 %

As of the dates set forth in the above table, the Company exceeded the minimum required capital ratios applicable to it and the Bank’s capital ratios exceeded the minimums necessary to qualify as a well-capitalized depository institution under the prompt corrective action regulations. In addition to the minimum capital ratios, both HomeStreet Inc. and HomeStreet Bank are required to maintain a capital conservation buffer consisting of additional Common Equity Tier 1 Capital of more than 2.5% above the required minimum levels in order to avoid limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses. The required ratios for capital adequacy set forth in the above table do not include the Capital Rules’ additional capital conservation buffer, though both the Company and Bank maintained capital ratios necessary to satisfy the capital conservation buffer requirements as of the dates indicated. At March 31, 2025, capital conservation buffers for the Company and the Bank were 3.87% and 5.40%, respectively.

The Company did not declare a cash dividend in the quarter and currently does not plan to pay any quarterly dividends in 2025. The amount and declaration of future cash dividends are subject to approval by our Board of Directors and certain statutory requirements and regulatory restrictions.

We had no material commitments for capital expenditures as of March 31, 2025. 

55

Non-GAAP Financial Measures

To supplement our unaudited condensed consolidated financial statements presented in accordance with GAAP, we use certain  use certain non-GAAP measures of financial performance.

In this Form 10-Q, we use the following non-GAAP