Company: MCHB
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001518715-25-000026
Chunk: 59

Company: Mechanics Bancorp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 7
Chunk 59
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 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 where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes recognized in our consolidated income statements. 

31

 At December 31, 2023Past Due and Still Accruing(in thousands)30-59 days60-89 days90 days ormoreNonaccrualTotal pastdue and nonaccrual (1)CurrentTotal loansCRENon- owner occupied CRE$— $— $— $16,803 $16,803 $625,082 $641,885 Multifamily— 1,915 — — 1,915 3,938,274 3,940,189 Construction and land developmentMultifamily construction— — — — — 168,049 168,049 CRE construction— — — 3,821 3,821 14,692 18,513 Single family construction— — — — — 274,050 274,050 Single family construction to permanent— — — — — 105,304 105,304 Total— 1,915 — 20,624 22,539 5,125,451 5,147,990 Commercial and industrial loansOwner occupied CRE— — — 706 706 390,579 391,285 Commercial business— — — 13,686 13,686 345,363 359,049 Total— — — 14,392 14,392 735,942 750,334 Consumer loansSingle family5,174 1,993 4,261 (2)2,650 14,078 1,126,201 1,140,279 Home equity and other974 225 — 1,310 2,509 381,792 384,301 Total6,148 2,218 4,261 3,960 16,587 1,507,993 1,524,580 (3)Total loans$6,148 $4,133 $4,