Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 304

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 304
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 merger to U.S. holders of Mechanics common stock are set forth in the remainder of this discussion:

| • | a holder who receives solely shares of HomeStreet common stock (or receives HomeStreet common stock and cash solely in lieu of a fractional share) in exchange for shares of Mechanics common stock generally will not recognize any gain or loss upon the merger, except with respect to the cash received in lieu of a fractional share of HomeStreet common stock; |

| • | the aggregate tax basis of the HomeStreet common stock received in the merger (including fractional share interests in HomeStreet common stock deemed received and exchanged for cash) will be equal to the holder’s aggregate tax basis in the Mechanics common stock for which it is exchanged; and |

| • | the holding period of HomeStreet common stock received in the merger (including any fractional shares deemed received and redeemed as described below) will include the holder’s holding period of the Mechanics common stock for which it is exchanged. |

If holders acquired different blocks of Mechanics common stock at different times and at different prices, a holder’s tax basis and holding period in HomeStreet common stock may be determined with reference to each block of Mechanics common stock. Cash Instead of a Fractional Share A U.S. holder of Mechanics common stock who receives cash instead of a fractional share of HomeStreet common stock will be treated as having received the fractional share of HomeStreet common stock pursuant to the merger and then as having sold that fractional share for cash. As a result, generally such a holder will recognize gain or loss equal to the difference between the amount of cash received and the basis allocable to such holder’s fractional share of HomeStreet common stock. This gain or loss generally will be capital gain or loss, and will be long-term capital gain or loss if, as of the effective time, the holding period for the shares (including the holding period of Mechanics common stock surrendered therefor) is greater than one year. The deductibility of capital losses is subject to limitations.

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Backup Withholding Payments of cash to a non-corporate U.S. holder of Mechanics common stock in connection with the merger may be subject to information reporting and backup withholding (currently at a rate of 24%). A U.S. holder of Mechanics common stock generally will not be subject to backup withholding, however, if the holder:

| • | furnishes a correct taxpayer identification number, certifies that the holder is not subject to backup withholding on IRS form W-9 (or an applicable substitute or successor form)