Company: MCHB
Filing Date: 2025-05-09
Form Type: 425
Source: 0001518715-25-000085
Chunk: 30

Company: Mechanics Bancorp
Filing Date: 2025-05-09
Form: 425
Chunk 30
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 in the Bay Area, it's sticky recurring fee income. Obviously the trusts deplete over time. And so we have programs and business development efforts to bring in new trust business. With the failure of First Republic right in our backyard, obviously very challenging time. It's created an opportunity to hire talent and we've taken advantage of that. I think we've hired close to 20 people, overhauled a lot of the leadership within our wealth group and now we're in at $3 billion in a couple years, and so they've got a lot of momentum. We're opening up a Delaware site that I think will give us a lot of, additional ability to win new business there. It's a talented team that has a growth culture, which is good, and they are very good fit for our bank. We're not a huge player, but we have some really talented people there. We are excited to enter the Pacific Northwest and Hawaiian markets, more depth in Southern California, we're going to continue to be hiring trust officers and private bankers and then try to lean into being a bank that can serve all types of clients. Whether it's the farmer in Yreka to the very high, net worth, tech person in Seattle. We want to be a full-service bank and have those capabilities and we will continue to invest prudently in that area. Mark Mason That's exciting. We tried to start a wealth management unit and starting from scratch is very challenging and it's been a missing component to our business. I'm particularly excited about that. Homeowners associations. In Hawaii, we bank a lot of homeowners associations. One of their needs is for loans periodically to do upgrades on properties and so on. Are you all interested in doing those type of loans? C.J. Johnson I think we look at that, especially if they have a banking relationship with us. I think yes. I don't think we do much of that today. I don't think we banked too many HOAs today, but we're excited to add that capability. We have a ton of talent on the deposit side in terms of servicing the capabilities and product there. Obviously we were very focused on trying to

grow core deposits and that a good vertical to compete in and if they need some lending help, we’ll certainly look at that. Mark Mason Alright, do you have your own IRA department? I guess that's a retail question. We do. You do. Most people do. That's a yes, whoever has said. I'm