Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 377

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 377
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, respectively, at a fixed coupon rate of 5.25% with an investment grade rating, resulting in $862 thousand of interest expense for the year ended December 31, 2024, and $1.4 million for the years ended December 31, 2023 and 2022. The subordinated debentures at December 31, 2024 and 2023 consisted of the following:

| (in thousands)          |     | December 31, 2024 |     |          |     | December 31, 2023 |     |          |
|:------------------------|:----|:------------------|:----|:---------|:----|------------------:|:----|---------:|
|                         |     | Principal Owed    |     | Discount |     |    Principal Owed |     | Discount |
| Subordinated Debentures |     | $—                |     | $—       |     |           $25,000 |     |      $35 |

Federal Reserve Bank Discount Window and Bank Term Funding Program (BTFP) As of December 31, 2024 and 2023, the Bank had no outstanding Discount Window borrowings and $0 and $750.0 million in outstanding BTFP borrowings, respectively. The Bank has pledged $1.9 billion of Consumer loans through the Borrower-In-Custody Program and $1.1 billion of investment securities to the Federal Reserve Bank Discount Window, which permits $2.6 billion of additional borrowing capacity as of December 31, 2024. Brokered and Other Wholesale Funding The Bank had no other outstanding debt as of December 31, 2024 and 2023. The Bank had $5.9 billion of available borrowing capacity under borrowing lines established with other financial institutions as of December 31, 2024. NOTE 19 – SHAREHOLDERS EQUITY AND DIVIDEND LIMITATIONS During August 2019, the Bank issued 33,294 shares of its voting common stock and 3,376 of its nonvoting common stock. The Bank issued 30,313 shares of its voting common stock in an underwritten rights offering for gross proceeds of approximately $1.2 billion, net of offering costs of $6.9 million. In addition, as part of the consideration due for the acquisition of RNA, the Bank issued 2,981 shares of its voting and 3,376 shares of its nonvoting common stock to