Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 303

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 303
---
 arrangement that is treated as a partnership for United States federal income tax purposes and that holds Mechanics common stock generally will depend on the status of the partner and the activities of the partnership. Partners in a partnership holding Mechanics common stock should consult their own tax advisors. Tax Consequences of the Merger Generally The parties intend for the merger to qualify as a “reorganization” within the meaning of Section 368(a) of the Code. It is a condition to the HomeStreet Parties’ obligation to complete the merger that the HomeStreet Parties receive an opinion from Sullivan & Cromwell LLP (or another nationally recognized law firm), dated the closing date, to the effect that the merger will qualify as a “reorganization” within the meaning of Section 368(a) of the Code. It is a condition to Mechanics’ obligation to complete the merger that Mechanics receive an opinion from Wachtell, Lipton, Rosen & Katz (or another nationally recognized law firm) dated as of the closing date, to the effect that the merger will qualify as a “reorganization” within the meaning of Section 368(a) of the Code. These opinions will be based on the assumption that the merger will be completed in the manner set forth in the merger agreement and the registration statement on Form S-4 of which this proxy statement/prospectus/consent solicitation statement forms a part, and on representation letters provided by the HomeStreet Parties and Mechanics to be delivered at the time of the closing. These opinions will also be based on the assumption that the representations found in the representation letters are, as of the effective time, true and complete without qualification and that the representation letters are executed by appropriate and authorized officers of the HomeStreet Parties and Mechanics. If any of the representations, warranties, covenants or assumptions upon which the opinions described above are based are inconsistent with the actual facts, or if any condition contained in the merger agreement and affecting these opinions is breached or is waived by any party, the U.S. federal income tax consequences of the merger could be adversely affected. Neither of the opinions described above will be binding on the Internal Revenue Service (“IRS”). Mechanics and the HomeStreet Parties have not sought and will not seek any ruling from the IRS regarding any matters relating to the merger, and, as a result, there can be no assurance that the IRS will not assert, or that a court would not sustain, a position contrary to any of the conclusions set forth below. As a “reorganization,” the material U.S. federal income tax consequences of the