Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 309

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 309
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. Potential dilution from common equivalent shares is determined using the treasury stock method, reflecting the potential settlement of stock-based compensation awards resulting in the issuance of additional shares of common stock. |

See accompanying notes to unaudited pro forma combined condensed consolidated financial statements. 194

#### TABLE OF CONTENTS

### NOTES TO UNAUDITED PRO FORMA COMBINED CONDENSED CONSOLIDATED

### FINANCIAL STATEMENTS

#### Note 1. Basis of Presentation
The unaudited pro forma combined condensed consolidated financial information and explanatory notes have been prepared to give pro forma effect to the merger under the acquisition method of accounting with HomeStreet treated as the legal acquirer and Mechanics treated as the accounting acquirer. The unaudited pro forma combined condensed consolidated financial information is presented for illustrative purposes only and does not necessarily indicate the financial results of the combined company had the companies actually been combined at the beginning of the periods presented, nor does it necessarily indicate the results of operations in future periods or the future financial position of the combined company. Under the acquisition method of accounting, the assets and liabilities of HomeStreet (as the accounting acquiree), as of the effective date of the merger, will be recorded at their respective fair values, and the excess of the fair value of HomeStreet’s net assets over the purchase price consideration will be allocated to a bargain purchase gain. See Note 2 to the unaudited pro forma combined condensed consolidated financial information for detailed calculations of the estimated purchase price.

The merger agreement provides for Mechanics common shareholders to receive 3,301.0920 shares of Class A common stock for each share of Mechanics voting common stock and 330.1092 shares of Class B common stock for each share of Mechanics non-voting common stock they hold immediately prior to the merger.

The preliminary purchase price allocation reflected in the unaudited pro forma combined condensed consolidated financial information is subject to adjustment and may vary from the actual purchase price allocation that will be recorded at the time the merger is completed. Adjustments may include, but not be limited to, changes in (i) HomeStreet’s financial condition and operating results through the effective time of the merger; (ii) the aggregate value of the accounting purchase price determination if the price of shares of HomeStreet common stock varies from the assumed $12.25 per share, which was the closing share price of HomeStreet common stock on June 25, 2025; (iii) total merger-related expenses from amounts included herein; and (iv) the underlying values of