Company: MCHB
Filing Date: 2025-05-09
Form Type: 425
Source: 0001518715-25-000085
Chunk: 17

Company: Mechanics Bancorp
Filing Date: 2025-05-09
Form: 425
Chunk 17
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 performing efficient company, but we want to make sure we have the ability for our team to be in the office and be working together with our teammates. But there is an ability to work remote and have hybrid, but it's evaluated on a case by case basis. Mark Mason Next, these are good. No, you need to because of the webinar. Sorry. I know we can hear you, but they can't. Question from the audience I was going to ask, would the vault still stay here in Seattle? The treasury vault? Mark Mason Treasury Vault.

Question from the audience For original docs. Mark Mason It depends. Oh, you're talking about for mortgage docs? Yes. I think that's going to have to be sorted out. Okay. Right, you may even have regional vaults. That's an integration question. I think. C.J. Johnson I'm not sure. But I think so for mortgage stuff. Mark Mason There's a lot to be sorted with the integration of groups, right? I mean, they have their own vault and note Security today and that's going to have to be sorted. Like a lot of questions. C.J. Johnson Daniel, do you have any thoughts there? Mark Mason Daniel, do you have an answer? No. C.J. Johnson TBD we'll get back here. Mark Mason Working through it. Too early for that one. Next question. Question from the audience So, along with the question about growth and the future of Mechanics, I'm curious about mortgage growth or expansion. C.J. Johnson We want to be in the mortgage business. I think what HomeStreet does is very additive to what we do at Mechanics Bank. It's not going to be something we want to grow tremendously. I think we want to be very prudent in the growth because we want to make sure A), it's not too big a portion of our balance sheet. If it becomes too great a component of your balance sheet and if you have too much gain on sale, then the market discounts that pretty substantially from an earnings multiple standpoint. So we're going to be very prudent with how we structure mortgage. We've already done a lot of work thinking through that, and we're going to have a focus on profitability. We're going to focus on being a very efficient, high performing mortgage group. But we're going to stay in the business for sure. We're going to stay in the markets, and it's just making sure we calibrate production, at the right levels to fit our balance