Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 363

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 363
---
 the purchased loan and lease receivables disclosed above, the Bank did not incur any specific allowances for credit losses during the periods indicated. For loan and lease receivables sold for the years ended December 31, 2024, 2023 and 2022, there were no loans sold as part of securitizations. NOTE 4 – PREMISES AND EQUIPMENT, NET The following table presents the Bank’s premises and equipment at cost and accumulated depreciation as of the following dates:

| (in thousands)                        |     | December 31, 2024 |     | December 31, 2023 |
|:--------------------------------------|:----|------------------:|:----|------------------:|
| Land                                  |     |           $52,151 |     |           $52,571 |
| Buildings                             |     |            66,082 |     |            67,319 |
| Leasehold improvements                |     |            26,337 |     |            26,194 |
| Furniture, Fixtures and Equipment     |     |            38,263 |     |            43,446 |
| Total premises and equipment, at cost |     |           182,833 |     |           189,530 |
| Less: Accumulated depreciation        |     |           -65,471 |     |           -67,735 |
| Premises and Equipment, net           |     |          $117,362 |     |          $121,795 |

During the years ended December 31, 2024, 2023 and 2022, depreciation expense was $9.4 million, $10.7 million, and $11.0 million, respectively, and are presented within Noninterest Expense on the Consolidated Income Statements. NOTE 5 – LEASES The Bank leases certain premises. The Bank has entered into various operating leases for its branches and operating facilities. These operating leases expire at dates through 2034 and generally contain renewal options for periods of five to ten years. These leases include provisions for periodic rent increases as well as payment by the lessee of certain operating expenses. The Bank includes lease extension and termination options in the lease term if, after considering relevant economic factors, it is reasonably certain the Bank will exercise the option. In addition, the Bank has elected to account for any non-lease component in its real estate leases as part of the associated lease components. Leases are classified as operating or finance leases at lease commencement date.