Company: MCHB
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001518715-25-000110
Chunk: 40

Company: Mechanics Bancorp
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 40
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 — — 3,824 — Commercial business— 7,128 — — — Single family1,074 — — 351 — Total$1,074 $7,128 $— $20,415 $— 

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NOTE 4–DEPOSITS:

Deposit balances, including their weighted average rates, were as follows: At June 30, 2025At December 31, 2024(dollars in thousands)AmountWeighted Average RateAmountWeighted Average RateNoninterest-bearing demand deposits$1,203,680 — %$1,195,781 — %Interest bearing:Interest-bearing demand deposits 322,151 0.17 %323,112 0.35 %Savings 233,074 0.06 %229,659 0.06 %Money market 1,363,793 1.95 %1,396,697 1.72 %Certificates of depositBrokered deposits210,067 4.24 %751,406 4.61 %Other2,524,519 3.91 %2,516,366 4.37 %Total interest bearing deposits4,653,604 2.88 %5,217,240 3.31 %Total deposits$5,857,284 2.30 %$6,413,021 2.65 %There were $319 million and $315 million in public funds included in deposits at June 30, 2025 and December 31, 2024, respectively.Certificates of deposit outstanding mature as follows: (in thousands)June 30, 2025Within one year$2,719,131 One to two years12,117 Two to three years1,273 Three to four years868 Four to five years1,197 Thereafter— Total$2,734,586 

The aggregate amount of certificate of deposits in denominations of more than the FDIC limit of $250 thousand at June 30, 2025 and December 31, 2024 were $277 million and $265 million, respectively. 

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NOTE 5–DERIVATIVES AND HEDGING ACTIVITIES:

To reduce the risk of significant interest rate fluctuations on the value of certain assets and liabilities, such as single family