Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 217

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 217
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 the other transactions contemplated by the merger agreement, and in unanimously recommending to HomeStreet shareholders that they vote in favor of the HomeStreet articles amendment proposal, the HomeStreet share issuance proposal, the HomeStreet new equity incentive plan proposal, the HomeStreet merger-related compensation proposal and the HomeStreet adjournment proposal. See the section entitled “ —Interests of HomeStreet’s Directors and Executive Officers in the Merger” for more information. For the reasons set forth above, the HomeStreet board of directors unanimously determined that the merger was fair to, advisable and in the best interests of HomeStreet and its shareholders and unanimously adopted and approved the merger agreement and the transactions contemplated thereby, including the merger (which was also approved by the board of directors of HomeStreet Bank in a joint board capacity with the HomeStreet board of directors) and entry into the merger agreement by HomeStreet and HomeStreet Bank. The HomeStreet board of directors recommends that HomeStreet shareholders vote “FOR” the HomeStreet articles amendment proposal, “FOR” the HomeStreet share issuance proposal, “FOR” the HomeStreet new equity incentive plan proposal, “FOR” the HomeStreet merger-related compensation proposal and “FOR” the HomeStreet adjournment proposal.

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TABLE OF CONTENTS

Mechanics’ Reasons for the Merger; Recommendation of the Mechanics Board of Directors In reaching its decision to approve the merger agreement and the transactions contemplated thereby, including the merger, and to recommend that Mechanics shareholders approve the merger agreement and the transactions contemplated thereby, including the merger, and the principal terms thereof, the Mechanics board of directors reviewed and discussed with Mechanics’ management and with Mechanics’ financial and legal advisors the terms of the merger agreement and the transactions contemplated thereby, and considered a number of factors, including the following:

| • | each of Mechanics’, HomeStreet’s and the combined company’s business, operations, financial condition, asset quality, earnings and prospects. In reviewing these factors, including the information obtained through due diligence (including Mechanics’ diligence of HomeStreet in 2024), the Mechanics board of directors considered its assessment that HomeStreet’s business, operations, risk profile and geographic footprint complement those of Mechanics, and that the merger and the other transactions contemplated by the merger agreement would result in a combined company with a larger scale and market presence than Mechanics on a standalone basis, and would thereby enable Mechanics to serve an expanded customer base, more effectively compete with larger institutions, make strategic investments in technology and digital banking and position Mechanics for accelerated growth; |

| • | the anticipated pro forma