Company: MCHB
Filing Date: 2025-04-15
Form Type: ARS
Source: 0001518715-25-000069
Chunk: 8

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: ARS
Chunk 8
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.8) % Core (1) (3.6) % 2.0 % Return on average assets Net income (loss) (1.56) % (0.29) % Core (1) (0.23) % 0.09 % Efficiency ratio (1) 116.0 % 95.6 % Net interest margin 1.38 % 1.88 % Other Data: Full time equivalent employees 827 902 (1) Core net income (loss), core net income (loss) per fully diluted share, return on average tangible equity, core return on average tangible equity, core return on average assets and the efficiency ratio are non-GAAP financial measures. For a reconciliation of these measures to the nearest comparable GAAP financial measure or the computation of the measure, see “Non-GAAP Financial Measures” elsewhere in this Management’s Discussion and Analysis of Financial Condition and Results of Operations. 8

Summary Financial Data (continued) As of December 31, (dollars in thousands, except share and per share data) 2024 2023 Selected Balance Sheet Data: Loans held for sale ("LHFS") $ 20,312 $ 19,637 Loans held for investment ("LHFI"), net 6,193,053 7,382,404 ACL 38,743 40,500 Investment securities 1,057,006 1,278,268 Total assets 8,123,698 9,392,450 Deposits 6,413,021 6,763,378 Borrowings 1,000,000 1,745,000 Long-term debt 225,131 224,766 Total shareholders' equity 396,997 538,387 Other data: Book value per share $ 21.05 $ 28.62 Tangible book value per share (1) $ 20.67 $ 28.11 Total equity to total assets 4.9 % 5.7 % Tangible common equity to tangible assets (1) 4.8 % 5.6 % Shares outstanding at period end 18,857,565 18,810,055 Loans to deposits ratio (Bank) 97.4 % 109.4 % Credit quality: ACL to total loans (2) 0.63 % 0.55 % ACL to nonaccrual loans 70.4 % 103.9 % Nonaccrual loans to total loans 0.88 %