Company: MCHB
Filing Date: 2025-05-09
Form Type: 425
Source: 0001518715-25-000085
Chunk: 12

Company: Mechanics Bancorp
Filing Date: 2025-05-09
Form: 425
Chunk 12
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 conversations about different officers and different other positions that they are likely to make offers to. They're really doing what C.J. says, a really intensive look at our folks, and I want to thank all of you for the nice things that you've said about our personnel. We appreciate it. I'm biased

clearly, but hearing that kind of feedback, I think it's fantastic and you all you should know that that's occurring. And is going to occur. Alright, one thing on conversion, because conversion on the course system will not happen until, let's call it February, middle of the Q1 next year. More people will need to be retained than you might think through that conversion. So if you are thinking that maybe your position might be a position that may not continue, understand we may still need you through not just a conversion date, but a little period thereafter to make sure it went well, right? This has to be done well, it has to be done right. We need a margin of safety, which means a margin of safety with your help. And so if you're thinking about that understand we've got aways to go, right? 401(k) matching. This question has come up already. We all have slightly different approaches to that. What is Mechanics approach? C.J. Johnson So we match up to 3.5% of the contributions, and I think that will be consistent. What does HomeStreet do? Mark Mason It's 3%, but it's in two pieces. It's 100% of the first 2%, I think 50% of the next two. Is that right? Correct me if I'm wrong. 4%. Four. Okay, total. Are we four? No, no, no, we're three. C.J. Johnson Confusion. We're 3.5%. Mark Mason Yeah. So, oh, even better than us. C.J. Johnson Immediate 4%. Mark Mason We're four? Alright, something like that. We'll clarify. I might have to check my own statement. Long time ago it used to be companies required vesting for their match. We don't. It's vested immediately. What is your policy? C.J. Johnson You know, Nathan, do you know? One year vesting on our match. Mark Mason Got it. That's not very long.

Nathan Duda For the 1st year, once you've been an employee over a year there's no thereafter. C