Company: MCHB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001518715-25-000083
Chunk: 126

Company: Mechanics Bancorp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 126
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 a computation of the measure.

56

Reconciliations of non-GAAP results of operations to the nearest comparable GAAP measures or the computation of the measure:

 For the Quarter Ended(in thousands, except ratio, rate and share data)March 31, 2025December 31, 2024March 31, 2024Core net income (loss)Net income (loss)$(4,465)$(123,327)$(7,497)Adjustments (tax effected)Loss on loan sale— 67,058 — Merger related expenses (recoveries)1,599 (2,534)2,028 Loss on debt extinguishment— 353 — Deferred tax asset valuation allowance— 53,310 — Total$(2,866)$(5,140)$(5,469)Core net income (loss) per fully diluted shareFully diluted shares18,920,808 18,857,565 18,856,870 Computed amount$(0.15)$(0.27)$(0.29)Return on average tangible equity (annualized)Average shareholders' equity$404,800 $529,299 $537,627 Less: Average intangibles(6,976)(7,542)(9,403)Average tangible equity397,824 521,757 528,224 Net income (loss)$(4,465)$(123,327)$(7,497)Adjustments (tax effected)Amortization of core deposit intangibles374 487 488 Tangible income applicable to shareholders$(4,091)$(122,840)$(7,009)Ratio(4.2)%(93.7)%(5.3)%Return on average tangible equity (annualized) - CoreAverage tangible equity$397,824 $521,757 $528,224 Core net income (loss) (per above)$(2,866)$(5,140)$(5,469)Adjustments (tax effected)Amortization on core deposit intangibles374 487 488 Tangible income (loss) applicable to shareholders$(2,492)$(4,653)$(4,981)Ratio(2.5)%(3.5)%(3.8)%Return on average equity (annualized)  - CoreAverage shareholders' equity (per above)$404,800 $529,299 $537,627 Core