Company: MCHB
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001518715-25-000110
Chunk: 96

Company: Mechanics Bancorp
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 96
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,006 Total assets7,609,323 8,123,698 Deposits5,857,284 6,413,021 Borrowings1,040,000 1,000,000 Long-term debt225,316 225,131 Total shareholders' equity402,981 396,997 Other data:Book value per share$21.30 $21.05 Tangible book value per share (1)$20.97 $20.67 Total equity to total assets5.3 %4.9 %Tangible common equity to tangible assets (1)5.2 %4.8 %Shares outstanding at end of period18,920,808 18,857,565 Loans to deposit ratio (Bank)101.1 %96.8 %Credit Quality:Delinquencies(2)1.11 %1.06 %ACL to total loans (3) 0.78 %0.63 %ACL to nonaccrual loans  82.9 %70.4 %Nonaccrual loans to total loans 0.93 %0.88 %Nonperforming assets to total assets0.76 %0.71 %Nonperforming assets $58,052 $57,814 Regulatory Capital Ratios: BankTier 1 leverage 8.74 %7.30 %Total risk-based capital13.66 %13.02 %Common equity Tier 1 capital12.76 %12.27 %CompanyTier 1 leverage 6.78 %5.77 %Total risk-based capital12.65 %12.23 %Common equity Tier 1 capital8.78 %8.62 %

(1)Tangible book value per share and tangible common equity to tangible assets are non-GAAP financial measures. For a reconciliation of these measures to the nearest comparable GAAP financial measure, see “Non-GAAP Financial Measures” elsewhere in this Management’s Discussion and Analysis of Financial Condition and Results of Operations.

(2)Total past due and nonaccrual loans as a percentage of total loans held for investment.

(3)    This ratio excludes balances insured by the FHA or guaranteed by the VA or SBA.

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Current Developments

Recent Developments

On March 28, 2025, the Company entered into a definitive Agreement and