Company: MCHB
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001518715-25-000110
Chunk: 115

Company: Mechanics Bancorp
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 115
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810)Ratio(3.0)%(2.9)%(3.0)%(3.7)%Efficiency ratioNoninterest expenseTotal$47,751 $49,108 $96,859 $103,095 Adjustments:Merger related expenses or recoveries(1,746)(2,050)(3,796)(5,032)State of Washington taxes(382)(386)(768)(915)Core noninterest expense$45,623 $46,672 $92,295 $97,148 Total revenuesNet interest income$33,870 $33,221 $67,091 $61,852 Noninterest income15,100 12,136 27,236 22,681 Total$48,970 $45,357 $94,327 $84,533 Ratio93.2 %102.9 %97.8 %114.9 %

59

For the Quarter EndedSix Months Ended June 30,(in thousands, except ratio, rate and share data)June 30, 2025March 31, 202520252024Return on Average assets (annualized)  - CoreAverage Assets$7,644,356 $7,870,934 $7,757,019 $9,387,160 Core net income (loss) - per above(3,050)(2,866)(5,916)(9,810)Ratio(0.16)%(0.15)%(0.15)%(0.21)%Effective tax rate used in computations above22.0 %22.0 %22.0 %22.0 %

As of(in thousands, except ratio, rate and share data)June 30, 2025December 31, 2024Tangible book value per shareShareholders' equity$402,981 $396,997 Less: Intangible assets(6,184)(7,141)Tangible shareholder's equity$396,797 $389,856 Common shares outstanding18,920,808 18,857,565 Computed amount$20.97 $20.67 Tangible common equity to tangible assetsTangible shareholder's equity (per above)$396,797 $389,856 Tangible assetsTotal assets$7,609,323 $8,123,698 Less: Intangible assets (per above)(6