Company: MCHB
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001518715-25-000026
Chunk: 123

Company: Mechanics Bancorp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 8
Chunk 123
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%Significant Payment Delay and Term ExtensionYears Ended December 31,20242023(in thousands, except percentages)Amortized Cost Basis at Period End% of Total Class of Financing ReceivableAmortized Cost Basis at Period End% of Total Class of Financing ReceivableNon-owner occupied CRE$19,331 3.39 %$16,230 2.53 %Construction/land development— — %3,821 0.68 %Owner occupied CRE254 0.07 %— — %Commercial business410 0.13 %— — %Single family3,668 0.33 %2,526 0.22 %Interest Rate Reduction, Significant Payment Delay and Term ExtensionYears Ended December 31,20242023(in thousands, except percentages)Amortized Cost Basis at Period End% of Total Class of Financing ReceivableAmortized Cost Basis at Period End% of Total Class of Financing ReceivableConstruction/land development$3,821 0.81 %$— — %Single family— — %191 0.02 %

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The following tables describes the financial effect of the MBFDs:Interest Rate ReductionYears Ended December 31,20242023Construction/land developmentReduced weighted-average contractual interest rate from 7.75% to 5.00%.—Commercial businessReduced weighted-average contractual interest rate from 7.75% to 5.00%.—Single family—Reduced weighted-average contractual interest rate from 5.25% to 5.00%.Significant Payment DelayYears Ended December 31,20242023Non-owner occupied CREThe weighted average duration of loan payments deferred is 0.8 years.The weighted average duration of loan payments deferred is 3.7 years.MultifamilyThe weighted average duration of loan payments deferred is 1.5 years.—Construction/land developmentThe weighted average duration of loan payments deferred is 0.6 years.The weighted average duration of loan payments deferred is 2.7 years.Owner occupied CREThe weighted average duration of loan payments deferred is 3.0 years.—Commercial businessThe weighted average duration of loan payments deferred is 0.6 years.The weighted average duration of loan payments deferred is 5.2 years.Single familyProvided payment deferrals to borrowers. A weighted average 0.41% of loan balances were capitalized and added to the remaining term of the loan.Provided payment deferrals