Company: MCHB
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001518715-25-000110
Chunk: 36

Company: Mechanics Bancorp
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 36
---
 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 $1.0 million and $1.3 million of loans at June 30, 2025 and December 31, 2024, respectively, 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. 

24

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 and six months ended June 30, 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 six months ended June 30, 2025 and 2024 to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted:Significant Payment DelayQuarter Ended June 30,Six Months Ended June 30,2025202420252024(in thousands, except percentages)Amortized Cost Basis at Period End% of Total Class of Financing ReceivableAmortized Cost Basis at Period End% of Total Class of Financing ReceivableAmortized Cost Basis at Period End% of Total Class of Financing ReceivableAmortized Cost Basis at Period End% of Total Class of Financing ReceivableMultifamily$1,915 0.07 %$— — %$1,915 0.07 %$— — %Commercial business— — %— — %— — %97 0.03 %Term ExtensionQuarter Ended June 30,Six Months Ended June 30,2025202420252024(in thousands, except percentages)Amortized Cost Basis at Period End% of Total Class of Financing ReceivableAmortized Cost Basis at Period End% of Total Class of Financing ReceivableAmortized Cost Basis at Period End% of Total Class of Financing ReceivableAmortized Cost Basis at Period End% of Total Class of Financing ReceivableCommercial business$996 0.35 %$— — %$996 0.35 %$3,455