Company: MCHB
Filing Date: 2025-04-15
Form Type: ARS
Source: 0001518715-25-000069
Chunk: 113

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: ARS
Chunk 113
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 Dividend income $ 10,400 $ 39,000 Equity in undistributed income from subsidiaries (141,939) (55,832) Other noninterest income 2,470 2,085 Total revenues (129,069) (14,747) Expenses Interest expense-net 8,097 8,094 Noninterest expense 11,268 8,176 Total expenses 19,365 16,270 Income (loss) before income taxes (benefit) (148,434) (31,017) Income taxes (benefit) (4,090) (3,509) Net income (loss) $ (144,344) $ (27,508) 91

Condensed Statements of Cash Flows Years Ended December 31, (in thousands) 2024 2023 Cash flows from operating activities Net income (loss) $ (144,344) $ (27,508) Adjustments to reconcile net income (loss) to net cash provided by operating activities Undistributed earnings from investment in subsidiaries 141,939 55,832 Other 3,513 (480) Net cash provided by operating activities 1,108 27,844 Cash flows from investing activities: AFS securities: Principal collections net of purchases 203 210 Investments in subsidiaries 3 — Net cash provided by investing activities 206 210 Cash flows from financing activities: Repurchases of common stock — — Proceeds from issuance of long-term debt — — Dividends paid on common stock — (12,317) Net cash used in financing activities — (12,317) Net increase in cash and cash equivalents 1,314 15,737 Cash and cash equivalents, beginning of year 21,541 5,804 Cash and cash equivalents, end of year $ 22,855 $ 21,541 92

ITEM 9 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE None ITEM 9A CONTROLS AND PROCEDURES Evaluation of Disclosure Controls and Procedures The Company's management conducted an evaluation, under the supervision and with the participation of its Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO"), of the effectiveness of the design and operation of the Company's disclosure controls and procedures (as defined in Rule 13a-15(e) of the Exchange Act) at December 31, 2024. The Company's disclosure controls and procedures are designed to ensure that information required to be disclosed by the