Company: MCHB
Filing Date: 2025-04-15
Form Type: ARS
Source: 0001518715-25-000069
Chunk: 81

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: ARS
Chunk 81
---
 345,363 359,049 Total — — — 14,392 14,392 735,942 750,334 Consumer loans Single family 5,174 1,993 4,261 (2) 2,650 14,078 1,126,201 1,140,279 Home equity and other 974 225 — 1,310 2,509 381,792 384,301 Total 6,148 2,218 4,261 3,960 16,587 1,507,993 1,524,580 (3) Total loans $ 6,148 $ 4,133 $ 4,261 $ 38,976 $ 53,518 $ 7,369,386 $ 7,422,904 % 0.08 % 0.05 % 0.06 % 0.53 % 0.72 % 99.28 % 100.00 % (1) Includes loans whose repayments are insured by the FHA or guaranteed by the VA or SBA of $11.3 million and $12.4 million at December 31, 2024 and 2023, respectively. (2) FHA-insured and VA-guaranteed single family loans that are 90 days or more past due are maintained on accrual status if they are determined to have little to no risk of loss. (3) Includes $1.3 million of loans at December 31, 2024 and 2023, where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes in fair value recognized in our consolidated income statements. Loan Modifications The Company provides MBFDs which may include delays in payment of amounts due, extension of the terms of the notes or reduction in the interest rates on the notes. In certain instances, the Company may grant more than one type of modification. The granting of modifications for the years ended December 31, 2024 and 2023 did not have a material impact on the ACL. The following tables provide information related to MBFDs for years ended December 31, 2024 and 2023 disaggregated by class of financing receivable and type of concession granted: Significant Payment Delay Years Ended December 31, 2024 2023 (in thousands, except percentages) Amortized Cost Basis at Period End % of Total Class of Financing Receivable Amortized