Company: MCHB
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001518715-25-000026
Chunk: 125

Company: Mechanics Bancorp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 8
Chunk 125
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(in thousands)Current30-89 Days Past Due90+ Days Past DueNon-owner occupied CRE$16,230 $— $— Construction/land development3,821 — — Commercial business8,873 976 — Single family2,627 1,285 324 Total$31,551 $2,261 $324 The following tables provide the amortized cost basis as of December 31, 2024 of MBFDs, on or after October 1, 2023 through September 30, 2024 and that subsequently had a payment default: Amortized Cost Basis of Modified Loans That Subsequently Defaulted Year Ended December 31, 2024(in thousands)Significant Payment DelayTerm ExtensionInterest Rate Reduction and Term ExtensionSignificant Payment Delay and Term ExtensionInterest Rate Reduction, Significant Payment Delay and Term ExtensionCommercial business$— $1,150 $— $— $— Single family238 — — 637 — Total$238 $1,150 $— $637 $— The following tables provide the amortized cost basis as of December 31, 2023 of MBFDs, on or after October 1, 2022 through September 30, 2023 and subsequently had a payment default: Amortized Cost Basis of Modified Loans That Subsequently Defaulted Year Ended December 31, 2023(in thousands)Significant Payment DelayTerm ExtensionInterest Rate Reduction and Term ExtensionSignificant Payment Delay and Term ExtensionInterest Rate Reduction, Significant Payment Delay and Term ExtensionCommercial business$— $976 $— $— $— Single family— — — 1,354 — Total$— $976 $— $1,354 $— 

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NOTE 4–PREMISES AND EQUIPMENT, NET:

Premises and equipment consisted of the following:  At December 31,(in thousands)20242023Furniture and equipment$56,121 $56,777 Leasehold improvements37,265 38,870 Land and buildings42,374 42,153 Total135,760 137,800 Less: accumulated depreciation(88,559)(84,218)Net$47,201 $53,582 

NOTE 5–DEPOSITS:

Deposit balances, including their weighted average rates, were as follows: