Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 304

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 304
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 forms a part, and on representation letters provided by the HomeStreet Parties and Mechanics to be delivered at the time of the closing. These opinions will also be based on the assumption that the representations found in the representation letters are, as of the effective time, true and complete without qualification and that the representation letters are executed by appropriate and authorized officers of the HomeStreet Parties and Mechanics. If any of the representations, warranties, covenants or assumptions upon which the opinions described above are based are inconsistent with the actual facts, or if any condition contained in the merger agreement and affecting these opinions is breached or is waived by any party, the U.S. federal income tax consequences of the merger could be adversely affected. Neither of the opinions described above will be binding on the Internal Revenue Service (“IRS”). Mechanics and the HomeStreet Parties have not sought and will not seek any ruling from the IRS regarding any matters relating to the merger, and, as a result, there can be no assurance that the IRS will not assert, or that a court would not sustain, a position contrary to any of the conclusions set forth below. As a “reorganization,” the material U.S. federal income tax consequences of the 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