Company: MCHB
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001518715-25-000026
Chunk: 68

Company: Mechanics Bancorp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 7
Chunk 68
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 %22.0 %

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 As of December 31,(in thousands, except share data)20242023Tangible book value per shareShareholders' equity$396,997 $538,387 Less: other intangibles(7,141)(9,641)Tangible shareholder's equity$389,856 $528,746 Common shares outstanding18,857,565 18,810,055 Computed amount$20.67 $28.11 Tangible common equity to tangible assetsTangible shareholder's equity (per above)$389,856 $528,746 Tangible assetsTotal assets$8,123,698$9,392,450Less:  Other intangibles(7,141)(9,641)Net$8,116,557 $9,382,809 Ratio4.8 %5.6 %

(1)  Effective tax rate indicated is used for all adjustments except the loss on loan sale and the goodwill impairment charge. A computed effective rate of 13.1% was used for the goodwill impairment charge as a portion of this charge was not deductible for tax purposes. The gross effective tax rate of 24.5% was used for the loss on loan sale due to the large size of the loss in relation to permanent differences that could impact our gross effective rate. 

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