Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 392

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 392
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,000 |
| Total debt securities                            |     |            |     |            |     |            |     |     $4,261,251 |

F-57

TABLE OF CONTENTS

In addition to the reported fair values of the debt securities reflected above, the Bank is entitled to receive accrued interest and dividends from its securities. Included in Interest Receivable and Other Assets on the Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024 was $17.2 million and $15.9 million, respectively, of interest and dividends receivable from the Bank’s debt securities. Accrued interest receivable from securities available-for-sale totaled $14.9 million and $13.6 million at March 31, 2025 and December 31, 2024, respectively. Accrued interest receivable from securities held-to-maturity totaled $2.3 million and $2.4 million at March 31, 2025 and December 31, 2024, respectively. In accordance with accounting standards, only the realized gains and losses from securities transactions are included in the Consolidated Income Statements as Net gain/(loss) on investment securities. During the first quarter 2024, the Bank executed an investment portfolio restructuring of its AFS investment securities portfolio. The Bank sold $1.8 billion of lower yielding AFS securities and realized a loss of $207.2 million. The proceeds of the sale were used to purchase $1.6 billion of higher yielding investments. No gross gains were realized on the sales. The following table summarizes available-for-sale securities with unrealized and unrecognized losses at March 31, 2025 and December 31, 2024 aggregated by major security type and length of time in a continuous unrealized and unrecognized loss position:

|                                                  |     |      March 31, 2025 |     |            |     |                   |     |            |     |            |     |            |
|:-------------------------------------------------|:----|--------------------:|:----|-----------:|:----|------------------:|:----|-----------:|:----|-----------:|:----|-----------:|
|                                                  |     | Less than 12 months |     |            |     | 12 months or more |     |            |     |      Total |     |            |
| (dollars in thousands)                           |     |          Fair Value |     | Unrealized 
     Losses |     |        Fair Value |