Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 366

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 366
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 are not amortized. The lease intangible is amortized over the remaining term of each individual lease using the straight-line method.

F-34

TABLE OF CONTENTS

Core deposit intangibles are tested for impairment on at least an annual basis. The Bank evaluated the percentage change in core deposits associated with the acquisitions discussed in Note 1, “Summary of Significant Accounting Policies” from acquisition date to December 31, 2024 versus the life to date amortization percentage of the core deposit intangible related to those core deposits. No impairment was recognized on the core deposit intangible for years ended December 31, 2024, 2023 and 2022. As of December 31, 2024 and 2023, the trade name intangible was determined to have impairment of $1.5 million. The trade name for CRB Auto was written off due to the re-branding of the unit to Mechanics Bank Auto Finance, effective January 1, 2021. No impairment was recognized on the trade name intangible for years ended December 31, 2024 and 2023. The following table presents a summary of other intangible assets as of the periods indicated:

| (in thousands)                 
 December 31, 2024              |     | Gross Carrying Value |     |  Accumulated 
 Amortization |     | Accumulated 
  Impairment |     | Net Carrying Value |
|:-------------------------------|:----|---------------------:|:----|-------------:|:----|------------:|:----|-------------------:|
| Core deposit intangibles       |     |             $163,545 |     |     $139,540 |     |        $861 |     |            $23,144 |
| Trade name intangibles         |     |               17,060 |     |            — |     |       1,460 |     |             15,600 |
| Client relationship intangible |     |                2,798 |     |        2,798 |     |           — |     |                  — |
| Other intangibles              |     |                2,580 |     |        2,580 |     |           — |     |                  — |
| Total                          |     |             $185,983 |     |     $144,918 |     |      $2,321 |     |            $38,744 |
| December 31, 2023              |     |