Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 195

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 195
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, each share of Mechanics voting common stock issued and outstanding immediately prior to the effective time, subject to certain exceptions set forth in the merger agreement, will be converted into the right to receive 3,301.0920 shares of the Class A common stock and each share of Mechanics non-voting common stock issued and outstanding immediately prior to the effective time will be converted into the right to receive 330.1092 shares of the Class B common stock. The terms of the Class A common stock and Class B common stock will be established pursuant to the articles amendment. Mechanics shareholders who would otherwise be entitled to a fraction of a share of combined company common stock in the merger will instead receive, in lieu of the fraction of a share, an amount in cash (rounded to the nearest cent) (and, in the case of rounding in respect of Class B common stock, multiplied by ten (10), subject to adjustment as provided in the amended and restated articles) based on the average of the closing-sale prices of HomeStreet common stock on the Nasdaq or NYSE, as applicable, as reported by The Wall Street Journal for the consecutive period of five (5) full trading days ending on the trading day immediately preceding the closing date.

HomeStreet shareholders are being asked to approve, among other proposals, the HomeStreet articles amendment proposal and the HomeStreet share issuance proposal and Mechanics shareholders are being asked to approve the Mechanics merger proposal. See the section entitled “ The Merger Agreement ” for additional and more detailed information regarding the legal documents that govern the merger, including information about the conditions to the completion of the merger and the provisions for terminating or amending the merger agreement.

### Background of the Merger
In the course of its business planning processes undertaken on a regular basis, the HomeStreet board of directors (the “HomeStreet board”) and HomeStreet management review the business strategies and objectives of HomeStreet, including strategic opportunities and challenges. For years prior to the execution of the merger agreement, they considered various strategic options potentially available to HomeStreet, in each case with the goal of enhancing value for HomeStreet shareholders and delivering the best possible services to HomeStreet’s customers and communities. These strategic considerations have focused on, among other things, the business and regulatory environments facing regional banks and other financial institutions in general and HomeStreet in particular, as well as conditions and trends in the banking industry and financial markets. From time to time, the HomeStreet board and management met with representatives of KBW to discuss market conditions, industry trends and potential strategic opportunities and