Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 357

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 357
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 Improvements to Income Tax Disclosures,” which expands disclosures in an entity’s income tax rate reconciliation table and taxes paid both in the U.S. and foreign jurisdictions. The update will be effective for annual periods beginning after December 15, 2024. The adoption of ASU 2023-09 will not have an impact on the Bank’s financial position or results of operation as it impacts disclosures only. We are assessing the impact on our disclosures.

Subsequent Events: The Bank has evaluated subsequent events for recognition or disclosure through March 20, 2025, which is the date that the consolidated financial statements were available to be issued.

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TABLE OF CONTENTS

NOTE 2 – DEBT SECURITIES The following table presents the amortized cost and fair value of the debt securities portfolio as of the dates indicated:

|                                                  |     | December 31, 2024 |     |            |     |            |     |                |
|:-------------------------------------------------|:----|------------------:|:----|-----------:|:----|-----------:|:----|---------------:|
| (in thousands)                                   |     |         Amortized 
              Cost |     |      Gross 
 Unrealized 
      Gains |     |      Gross 
 Unrealized 
     Losses |     | Estimated Fair 
          Value |
| Securities available-for-sale                    |     |                   |     |            |     |            |     |                |
| Obligations of states and political subdivisions |     |           $91,799 |     |       $699 |     |   $(1,199) |     |        $91,299 |
| Mortgage-backed securities - residential         |     |         2,694,745 |     |      2,107 |     |    -53,164 |     |      2,643,688 |
| Mortgage-backed securities - commercial          |     |           259,793 |     |         22 |     |    -18,953 |     |        240,862 |
| Collateralized loan obligations                  |     |            50,000 |     |          — |     |          — |     |         50,000 |
| Corporate bonds                                  |     |            43,968 |     |          — |     |     -4,566 |     |         39,402 |
| Total securities available-for-sale              |     |        $3,140,305 |