Company: MCHB
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001518715-25-000026
Chunk: 78

Company: Mechanics Bancorp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 8
Chunk 78
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REET, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

At December 31,(in thousands, except share data)20242023ASSETSCash and cash equivalents$406,600 $215,664 Investment securities 1,057,006 1,278,268 Loans held for sale ("LHFS")20,312 19,637 Loans held for investment ("LHFI") (net of allowance for credit losses of $38,743 and $40,500)6,193,053 7,382,404 Mortgage servicing rights ("MSRs")99,466 104,236 Premises and equipment, net47,201 53,582 Other real estate owned ("OREO")2,820 3,667 Intangible assets7,141 9,641 Other assets290,099 325,351 Total assets$8,123,698 $9,392,450 LIABILITIES AND SHAREHOLDERS' EQUITYLiabilities:Deposits$6,413,021 $6,763,378 Borrowings1,000,000 1,745,000 Long-term debt225,131 224,766 Accounts payable and other liabilities88,549 120,919 Total liabilities7,726,701 8,854,063 Commitments and contingencies (Note 10)Shareholders' equity:Common stock, no par value, authorized 160,000,000 shares; issued and outstanding, 18,857,565 shares and 18,810,055 shares233,185 229,889 Retained earnings251,013 395,357 Accumulated other comprehensive income (loss)(87,201)(86,859)Total shareholders' equity396,997 538,387 Total liabilities and shareholders' equity$8,123,698 $9,392,450 

See accompanying notes to consolidated financial statements. 

45

HOMESTREET, INC. AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENTS 

 Years Ended December 31,(in thousands, except share and per share data)20242023Interest income:Loans$346,691 $341,255 Investment securities39,576 49,615 Cash, Fed Funds and other16,306 8,873 Total interest income402,573