Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 232

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 232
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63.5%              |     | 44.9%   |     | 38.2%  |     | 35.1%      |

| (1) | First multiple based on consensus “street estimates” for HomeStreet and second multiple based on estimates taken from financial and operating forecasts and projections of HomeStreet provided by HomeStreet management. |

No company used as a comparison in the above selected companies analysis is identical to HomeStreet. Accordingly, an analysis of these results is not mathematical. Rather, it involves complex considerations and judgments concerning differences in financial and operating characteristics of the companies involved. Relative Contribution Analysis . KBW analyzed the relative standalone contribution of Mechanics and HomeStreet to various pro forma balance sheet and income statement items and the combined market capitalization of the combined company. This analysis did not include purchase accounting adjustments or cost savings. To perform this analysis, KBW used (i) balance sheet and net income data for Mechanics and HomeStreet as of or for the 12-month period ended December 31, 2024, (ii) financial and operating forecasts and projections of Mechanics provided by Mechanics management, (iii) financial and operating forecasts and projections of HomeStreet provided by HomeStreet management, (iv) market price information as of March 27, 2025. The results of KBW’s analysis are set

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forth in the following table, which also compares the results of KBW’s analysis with the respective implied pro forma ownership percentages of Mechanics shareholders and HomeStreet shareholders in the combined company based on the exchange ratios provided for in the merger agreement and share ownership information provided to KBW by Mechanics management and HomeStreet management:

|                                                       |     | Mechanics  
 % of Total |     | HomeStreet 
 % of Total |
| Ownership:                                            |     |            |     |            |
| Fully Diluted Ownership at 100% stock(1)              |     | 91.7%      |     | 8.3%       |
| Market Information:                                   |     |            |     |            |
| Pre-Transaction Market Capitalization(2)              |     | 88.4%      |     | 11.6%      |
| Balance Sheet:                                        |     |            |     |            |
| Assets                                                |     | 67.0%      |     | 33.0%      |
| Gross Loans HFI                                       |     | 60.8%      |     | 39.2%      |