Company: MCHB
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001518715-25-000026
Chunk: 142

Company: Mechanics Bancorp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 8
Chunk 142
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:Derivatives Forward sale commitments$402 $— $402 $— Interest rate lock commitments49 — — 49 Interest rate swaps10,250 — 10,250 — Total liabilities$10,701 $— $10,652 $49 

94

At December 31, 2023(in thousands)Fair ValueLevel 1Level 2Level 3Assets:Trading securities - U.S. Treasury securities$24,698 $24,698 $— $— Investment securities AFSMortgage backed securities:Residential183,798 — 181,938 1,860 Commercial47,756 — 47,756 — Collateralized mortgage obligations:Residential439,738 — 439,738 — Commercial57,397 — 57,397 — Municipal bonds404,874 — 404,874 — Corporate debt securities38,547 — 38,547 — U.S. Treasury securities20,184 — 20,184 — Agency debentures58,905 — 58,905 — Single family LHFS 12,849 — 12,849 — Single family LHFI1,280 — — 1,280 Single family mortgage servicing rights74,249 — — 74,249 DerivativesForward sale commitments151 — 151 — Options132 132 — — Interest rate lock commitments411 — — 411 Interest rate swaps10,489 — 10,489 — Total assets$1,375,458 $24,830 $1,272,828 $77,800 Liabilities:DerivativeFutures$3 $3 $— $— Forward sale commitments288 — 288 — Interest rate swaps10,492 — 10,492 — Total liabilities$10,783 $3 $10,780 $— There were no transfers between levels of the fair value hierarchy during 2024 and 2023. Level 3 Recurring Fair Value MeasurementsThe Company's level 3 recurring fair value measurements consist of investment securities AFS, single family MSRs, single family LHFI where fair value option was elected, certain single family LHFS and IRCLs,