Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 217

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 217
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 determine the officers of the combined company; |

| • | the execution by Mechanics and HomeStreet of a consulting agreement with Mr. Mason pursuant to which Mr. Mason will be retained as a consultant to perform certain transitional services beginning on the day following the closing of the merger, the extension of the non-competition provisions of Mr. Mason’s employment agreement, and the Mechanics board of directors’ belief that Mr. Mason’s services would enhance the likelihood that the strategic benefits of the merger would be realized; |

| • | the Mechanics board of directors’ understanding of the current and prospective environment in which Mechanics and HomeStreet operate, including national, regional and local economic conditions, the interest rate environment, the accelerating pace of technological change in the banking industry, increased operating costs resulting from regulatory and compliance mandates and other economic factors, the competitive environment for financial institutions generally, and the likely effect of these factors on Mechanics both with and without the merger; |

| • | the Mechanics board of directors’ review and discussions with Mechanics’ management and advisors concerning Mechanics’ due diligence examination of HomeStreet, including HomeStreet’s operations, financial condition, loan portfolio and legal and regulatory compliance programs and prospects; |

| • | the Mechanics board of directors’ expectation that the combined company would have a strong capital position and excellent asset quality upon completion of the merger; |

| • | the Mechanics board of directors’ expectation that the required regulatory approvals could be obtained in a timely fashion; |

| • | the expected treatment of the merger as a “reorganization” within the meaning of Section 368(a) of the Code; |

| • | the retention of the Mechanics name for the surviving bank, Mechanics Bancorp for the combined company and the anticipated benefits to the combined enterprise arising from the goodwill and brand equity associated with the “Mechanics” name; |

| • | its review with Mechanics’ outside financial advisor, J.P. Morgan, of the financial position of Mechanics and HomeStreet, including the financial terms of the merger agreement and the other transactions contemplated by the merger agreement; and |

| • | its review with Mechanics’ outside legal advisor, Wachtell, Lipton, Rosen & Katz, of the terms of the merger agreement and the related transaction documents, including the representations and warranties, covenants, deal protection and termination provisions, tax treatment, closing conditions and post-closing governance arrangements. |

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The Mechanics board of directors also considered potential risks related to the merger but concluded that the anticipated benefits of the merger were