Company: MCHB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001518715-25-000083
Chunk: 44

Company: Mechanics Bancorp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 44
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361,997 Commercial business— — — 25,740 25,740 286,264 312,004 Total — — — 26,901 26,901 647,100 674,001 Consumer loansSingle family4,601 1,096 4,354 (2)2,990 13,041 1,096,054 1,109,095 Home equity and other344 631 — 3,137 4,112 408,423 412,535 Total 4,945 1,727 4,354 6,127 17,153 1,504,477 1,521,630 (3)Total loans$4,945 $1,727 $4,354 $54,994 $66,020 $6,165,776 $6,231,796 %0.08 %0.03 %0.07 %0.88 %1.06 %98.94 %100.00 %(1)     Includes loans whose repayments are insured by the FHA or guaranteed by the VA or Small Business Administration ("SBA") of $10.4 million and $11.3 million at March 31, 2025 and December 31, 2024, respectively. (2)    FHA-insured and VA-guaranteed single family loans that are 90 days or more past due are maintained on accrual status if they are determined to have little to no risk of loss.(3)    Includes $1.2 million and $1.3 million of loans at March 31, 2025 and December 31, 2024, where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes in fair value recognized in our consolidated income statements. 

23

Loan Modifications The Company provides modifications to borrowers experiencing financial difficulty ("MBFD"), which may include delays in payment of amounts due, extension of the terms of the notes or reduction in the interest rates on the notes. In certain instances, the Company may grant more than one type of modification. The granting of modifications for the quarters ended March 31, 2025 and 2024 did not have a material impact on the ACL. The following tables provide information related to loans modified for the quarters and ended March 31,