Company: MCHB
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001518715-25-000026
Chunk: 81

Company: Mechanics Bancorp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 8
Chunk 81
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Goodwill impairment charge— 39,857 Provision for credit losses— (441)Loss on sale of $990 million of multifamily loans88,618 — Depreciation and amortization, premises and equipment 6,580 7,146 Amortization of premiums and discounts: investment securities, deposits, debt2,689 357 Operating leases: excess of payments over amortization(3,101)(3,145)Amortization of finance leases181 425 Amortization of core deposit intangibles2,500 2,951 Amortization of deferred loan fees and costs(287)(1,039)Share-based compensation expense3,430 3,613 Lease abandonment costs1,064 — Deferred income tax (benefit) expense 17,943 (9,129)Loss on debt extinguishment452 — Origination of LHFS(517,998)(362,453)Proceeds from sale of LHFS521,128 363,327 Net fair value adjustment and gain on sale of LHFS(2,635)(676)Origination of MSRs(5,599)(3,645)Change in fair value of MSRs4,757 5,964 Amortization of servicing rights5,612 5,778 Net fair value adjustment, gain on sale and provision for losses on other real estate owned180 (975)Net decrease (increase) in trading securities(10,046)(5,695)Decrease (increase) in other assets10,862 (44,386)Increase (decrease) in accounts payable and other liabilities(27,907)37,698 Net cash provided by (used in) operating activities(45,921)8,024 CASH FLOWS FROM INVESTING ACTIVITIES:Purchase of investment securities— (53,232)Proceeds from sale of investment securities— 4,693 Principal payments on investment securities229,556 192,555 Proceeds from sale of OREO126 2,972 Proceeds from sale of $990 million of multifamily loans 905,625 — Net decrease in LHFI, excluding sale of $990 million of multifamily loans194,086 18,958 Purchases of premises and equipment(490)(3,811)Net cash received from acquisitions of branches— 327,901 Proceeds from sale of Federal Home Loan