Company: MCHB
Filing Date: 2025-04-15
Form Type: ARS
Source: 0001518715-25-000069
Chunk: 88

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: ARS
Chunk 88
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 are included in other assets or accounts payable and other liabilities on the consolidated balance sheets, consist of the following: At December 31, 2024 Notional amount Fair value derivatives (in thousands) Asset Liability Forward sale commitments $ 87,912 $ 237 $ (402) Interest rate lock commitments 16,757 175 (49) Interest rate swaps 222,917 10,250 (10,250) Futures 5,200 1 — Options 5,800 3 — Total derivatives before netting $ 338,586 10,666 (10,701) Netting adjustment/Cash collateral (1) (10,388) 219 Carrying value on consolidated balance sheet $ 278 $ (10,482) At December 31, 2023 Notional amount Fair value derivatives (in thousands) Asset Liability Forward sale commitments $ 87,509 $ 151 $ (288) Interest rate lock commitments 21,790 411 — Interest rate swaps 235,521 10,489 (10,492) Futures 12,200 — (3) Options 9,300 132 — Total derivatives before netting $ 366,320 11,183 (10,783) Netting adjustment/Cash collateral (1) (10,119) 195 Carrying value on consolidated balance sheet $ 1,064 $ (10,588) (1) Includes net cash collateral received of $10.2 million and $9.9 million at December 31, 2024 and 2023, respectively. The Company nets derivative assets and liabilities when a legally enforceable master netting agreement exists between the Company and the derivative counterparty. Derivatives are reported at their respective fair values in the other assets or accounts payable and other liabilities line items on the consolidated balance sheets, with changes in fair value reflected in current period earnings. The following tables present gross fair value and net carrying value information for derivative instruments: (in thousands) Gross fair value Netting adjustments/Cash collateral (1) Carrying value At December 31, 2024 Derivative assets $ 10,666 $ (10,388) $ 278 Derivative liabilities (10,701) 219 (10,482) At December 31, 2023 Derivative assets $ 11,183 $ (10,119) $ 1,064 Derivative liabilities (10,783) 195 (10,588) (1) Includes net cash collateral received of $