Company: MCHB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001518715-25-000083
Chunk: 57

Company: Mechanics Bancorp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 57
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       Value of servicing•       Fall-out factorLevel 3 recurring fair value measurement.

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The following tables presents the levels of the fair value hierarchy for the Company's assets and liabilities measured at fair value on a recurring basis: At March 31, 2025(in thousands)Fair ValueLevel 1Level 2Level 3Assets:Trading securities - U.S. Treasury securities$46,308 $46,308 $— $— Investment securities AFSMortgage backed securities:Residential164,252 — 162,553 1,699 Commercial48,462 — 48,462 — Collateralized mortgage obligations:Residential311,832 — 311,832 — Commercial53,155 — 53,155 — Municipal bonds373,991 — 373,991 — Corporate debt securities25,590 — 25,590 — U.S. Treasury securities20,317 — 20,317 — Agency debentures9,128 — 9,128 — Single family LHFS21,912 — 21,912 — Single family LHFI1,248 — — 1,248 Single family mortgage servicing rights 72,285 — — 72,285 Derivatives Futures2 2 — — Forward sale commitments50 — 50 — Options9 9 — Interest rate lock commitments556 — — 556 Interest rate swaps8,301 — 8,301 — Total assets$1,157,398 $46,319 $1,035,291 $75,788 Liabilities:DerivativesForward sale commitments$185 $— $185 $— Interest rate swaps8,301 — 8,301 — Total liabilities$8,486 $— $8,486 $— 

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At December 31, 2024(in thousands)Fair ValueLevel 1Level 2Level 3Assets:Trading securities - U.S. Treasury securities$34,746 $34,746 $— $— Investment securities AFSMortgage backed securities:Residential167,462 — 165,764 1,698 Commercial47,642 — 47,642 —