Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 202

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 202
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 multiplied by ten (10), subject to adjustment as provided in the amended and restated articles) based on the average of the closing-sale prices of HomeStreet common stock on the Nasdaq or NYSE, as applicable, as reported by The Wall Street Journal for the consecutive period of five (5) full trading days ending on the trading day immediately preceding the closing date.

HomeStreet shareholders are being asked to approve, among other proposals, the HomeStreet articles amendment proposal and the HomeStreet share issuance proposal and Mechanics shareholders are being asked to approve the Mechanics merger proposal. See the section entitled “ The Merger Agreement ” for additional and more detailed information regarding the legal documents that govern the merger, including information about the conditions to the completion of the merger and the provisions for terminating or amending the merger agreement.

### Background of the Merger
In the course of its business planning processes undertaken on a regular basis, the HomeStreet board of directors (the “HomeStreet board”) and HomeStreet management review the business strategies and objectives of HomeStreet, including strategic opportunities and challenges. For years prior to the execution of the merger agreement, they considered various strategic options potentially available to HomeStreet, in each case with the goal of enhancing value for HomeStreet shareholders and delivering the best possible services to HomeStreet’s customers and communities. These strategic considerations have focused on, among other things, the business and regulatory environments facing regional banks and other financial institutions in general and HomeStreet in particular, as well as conditions and trends in the banking industry and financial markets. From time to time, the HomeStreet board and management met with representatives of KBW to discuss market conditions, industry trends and potential strategic opportunities and alternatives, including business combination opportunities.

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#### TABLE OF CONTENTS
The Mechanics board of directors (the “Mechanics board”) also regularly meets to review and assess Mechanics’ performance, strategy, competitive position, opportunities and prospects in light of the then-current business, interest rate, economic and regulatory environments, as well as developments in the financial sector and the opportunities and challenges facing participants in the sector, with the goal of enhancing value for its shareholders and delivering the best possible products and services to Mechanics’ customers and communities. As part of these reviews, Mechanics identifies potential strategic alternatives, including potential acquisitions, dispositions and other business combinations. Mechanics’ senior management team has identified potential bank-transaction counterparties within various markets in light of Mechanics’ priorities and criteria, as well as Mechanics’ periodic review of strategic alternatives with the Mechanics