Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 212

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 212
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, the HomeStreet board, with input from their financial and legal advisers, discussed the HomeStreet board’s fiduciary duties, the findings of HomeStreet’s due diligence of Mechanics, the financial implications of the proposed transaction, the prospect of regulatory approval of the proposed transaction, the special transaction committee’s recommendation that the HomeStreet board move forward with the transaction, and KBW’s fairness opinion. After careful deliberation of the foregoing, the HomeStreet board accepted the special transaction committee report and approved and ratified all action taken by the special transaction committee.

On March 28, 2025, the HomeStreet board held a special meeting to consider the proposed terms of the proposed transaction with Mechanics. Members of HomeStreet management and representatives of S&C, KBW and Orrick attended the meeting. At the meeting, the HomeStreet board, S&C and KBW discussed the key terms of the proposed transaction with Mechanics, including the merger agreement and voting agreements. Representatives of S&C refreshed the directors regarding their fiduciary duties. The HomeStreet board also discussed the treatment of employees, the consulting agreement and the key shareholder voting agreements. Representatives of KBW discussed the financial aspects of the merger. KBW rendered its oral opinion at a meeting of the HomeStreet board on March 28, 2025, which KBW subsequently confirmed in a written opinion issued by KBW on such date, to the HomeStreet board of directors to the effect that, as of such date and subject to the procedures followed, assumptions made, matters considered, and qualifications and limitations on the review undertaken by KBW as set forth in such opinion, of the fairness, from a financial point of view, to HomeStreet of the consideration to be paid to holders of Mechanics common stock in the merger of Mechanics with HomeStreet Bank. For more information, see the section entitled

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“The Merger—Opinion of HomeStreet’s Financial Advisor. ” The HomeStreet board approved resolutions determining that the proposed transaction was in the best interest of HomeStreet and its shareholders and authorizing HomeStreet and HomeStreet Bank’s entry into proposed transaction, after careful review and discussion, including consideration of the factors described below under“The Merger—HomeStreet’s Reasons for the Merger; Recommendation of the HomeStreet Board of Directors” . On the evening of March 28, 2025, HomeStreet, HomeStreet Bank and Mechanics entered into the merger agreement and HomeStreet and Mechanics entered into the registration rights agreement and the consulting