Company: MCHB
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001518715-25-000110
Chunk: 19

Company: Mechanics Bancorp
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 19
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$— $(28)$2,273 $(28)$2,273 The Company has evaluated AFS securities in an unrealized loss position and has determined the decline in value is temporary and is related to the change in market interest rates since purchase. The decline in value is not related to any issuer- or industry-specific credit event. The Company has not identified any expected credit losses on its debt securities as of June 30, 2025 or December 31, 2024. The Company bases this conclusion in part on its periodic review of the credit ratings of the AFS securities or reviews of the financial condition of the issuers. In addition, as of June 30, 2025 and December 31, 2024, the Company had not made a decision to sell any of its debt securities held, nor did the Company consider it more likely than not that it would be required to sell such securities before recovery of their amortized cost basis. The following tables present the fair value of investment securities AFS and HTM by contractual maturity along with the associated contractual yield:  At June 30, 2025 Within one yearAfter one yearthrough five yearsAfter five yearsthrough ten yearsAfterten yearsTotal(dollars in thousands)FairValueWeightedAverageYieldFairValueWeightedAverageYieldFairValueWeightedAverageYieldFairValueWeightedAverageYieldFairValueWeightedAverageYieldAFS             Municipal bonds$— — %$39,308 3.54 %$55,342 2.99 %$276,932 2.89 %$371,582 2.97 %   Corporate debt securities— — %2,327 1.74 %23,219 4.44 %— — %25,546 4.20 %   U.S. Treasury securities— — %20,498 1.19 %— — %— — %20,498 1.19 %   Agency debentures— — %1,587 2.17 %4,031 2.22 %3,095 2.21 %8,713 2.21 %Total$— — %$63,720 2.69 %$82,592 3.36 %$280,027 2.88