Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 206

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 206
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 HomeStreet of the consideration to be paid to holders of Mechanics common stock in the merger of Mechanics with HomeStreet Bank. For more information, see the section entitled

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TABLE OF CONTENTS

“The Merger—Opinion of HomeStreet’s Financial Advisor. ” The HomeStreet board approved resolutions determining that the proposed transaction was in the best interest of HomeStreet and its shareholders and authorizing HomeStreet and HomeStreet Bank’s entry into proposed transaction, after careful review and discussion, including consideration of the factors described below under“The Merger—HomeStreet’s Reasons for the Merger; Recommendation of the HomeStreet Board of Directors” . On the evening of March 28, 2025, HomeStreet, HomeStreet Bank and Mechanics entered into the merger agreement and HomeStreet and Mechanics entered into the registration rights agreement and the consulting agreement. Shortly after the execution of the merger agreement, HomeStreet entered into (a) the Ford Entities voting agreement with the Ford Entities and (b) the Rabobank voting agreement with Rabobank. On the morning of March 31, 2025, Mechanics and HomeStreet announced the transaction via a joint news release before the opening of the financial markets in New York. HomeStreet’s Reasons for the Merger; Recommendation of the HomeStreet Board of Directors After careful consideration, the HomeStreet board of directors, at a special meeting held on March 28, 2025, based upon the information provided to the HomeStreet board and upon such other matters as were deemed relevant by the HomeStreet board, unanimously (i) determined that the merger agreement and the transactions contemplated thereby (including, without limitation, the merger, the articles amendment and the share issuance) are fair to and in the best interests of HomeStreet and its shareholders and declared it advisable for HomeStreet to enter into the merger agreement, (ii) adopted and approved the merger agreement, the consulting agreement, the registration rights agreement and the key shareholder voting agreements, and (iii) authorized and approved the execution, delivery and performance of the merger agreement and the transactions contemplated thereby, including the merger. In reaching this decision, the HomeStreet board of directors carefully evaluated the merger agreement, the merger and the other matters contemplated by the merger agreement, as well as the key shareholder voting agreements, registration rights agreement and consulting agreement, in consultation with HomeStreet’s senior management and HomeStreet’s legal counsel and financial advisors, and considered a number of factors, including the following principal factors:

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