Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 311

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 311
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 330.1092 |
| HomeStreet shares to be issued to Mechanics shareholders                                |     |            |     | 201,999,332 |

| Pro Forma HomeStreet Ownership as of March 31, 2025 |     | Pro Forma Shares |     | Percentage Ownership |
|:----------------------------------------------------|:----|-----------------:|:----|:---------------------|
| Mechanics Bank shareholders                         |     |      201,999,332 |     | 91.33%               |
| HomeStreet shareholders                             |     |       19,163,854 |     | 8.67%                |
|                                                     |     |      221,163,186 |     | 100%                 |
| Pro Forma Ratio of HomeStreet to Mechanics          |     |                  |     | 9%                   |

| Hypothetical Mechanics ownership as of March 31, 2025                         |     | Number of Shares |     | Percentage Ownership |
|:------------------------------------------------------------------------------|:----|-----------------:|:----|:---------------------|
| Hypothetical number of Mechanics shares issued to HomeStreet shareholders     |     |      201,999,332 |     | 91.33%               |
| Hypothetical Mechanics shares outstanding as of March 31, 2025 after issuance |     |       19,163,854 |     | 8.67%                |
|                                                                               |     |      221,163,186 |     | 100%                 |

| Reverse Acquisition Purchase Price Determination                          |     |              |
| Hypothetical number of Mechanics shares issued to HomeStreet shareholders |     |   19,163,854 |
| HomeStreet price per share as of June 25, 2025                            |     |       $12.25 |
| Hypothetical purchase price for accounting purposes                       |     | $234,757,212 |

Note 3. Preliminary Purchase Price Allocation The pro forma financial statements include the estimated acquisition accounting entries to record the completion of the merger. The excess of the fair value of net assets acquired, net of deferred taxes over the purchase price, is allocated to a bargain purchase gain. Estimated fair value adjustments included in the pro forma financial statements are based upon available information and certain assumptions considered reasonable, and may be revised as additional information becomes available. Core deposit intangible assets of $105 million are included in the pro forma adjustments separate from any goodwill and will be amortized using an accelerated method over seven