Company: MCHB
Filing Date: 2025-04-15
Form Type: ARS
Source: 0001518715-25-000069
Chunk: 84

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: ARS
Chunk 84
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 amounts to the borrowers. Upon determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount. 67

The following table depicts the payment status of loans that were modified to borrowers experiencing financial difficulties on or after October 1, 2023 through September 30, 2024: Payment Status (Amortized Cost Basis) at December 31, 2024 (in thousands) Current 30-89 Days Past Due 90+ Days Past Due Multifamily $ — $ — $ 1,915 Commercial business 1,157 — 1,150 Single family 1,690 — 875 Total $ 2,847 $ — $ 3,940 The following table depicts the payment status of loans that were modified to borrowers experiencing financial difficulties on or after October 1, 2022 through September 30, 2023: Payment Status (Amortized Cost Basis) at December 31, 2023 (in thousands) Current 30-89 Days Past Due 90+ Days Past Due Non-owner occupied CRE $ 16,230 $ — $ — Construction/land development 3,821 — — Commercial business 8,873 976 — Single family 2,627 1,285 324 Total $ 31,551 $ 2,261 $ 324 The following tables provide the amortized cost basis as of December 31, 2024 of MBFDs, on or after October 1, 2023 through September 30, 2024 and that subsequently had a payment default: Amortized Cost Basis of Modified Loans That Subsequently Defaulted Year Ended December 31, 2024 (in thousands) Significant Payment Delay Term Extension Interest Rate Reduction and Term Extension Significant Payment Delay and Term Extension Interest Rate Reduction, Significant Payment Delay and Term Extension Commercial business $ — $ 1,150 $ — $ — $ — Single family 238 — — 637 — Total $ 238 $ 1,150 $ — $ 637 $ — The following tables provide the amortized cost basis as of December 31, 2023 of MBFDs, on or after October 1, 2022 through September 30, 2023 and subsequently had a payment default: Amortized Cost