Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 370

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 370
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 diversified and flexible manner among various asset classes to achieve an acceptable long-term total rate of return in line with broader financial market experience while taking into consideration return opportunities and potential risks presented by the overall economy and financial markets. The Retirement Plan assets reflected in the tables below are the fair values of the plan assets as of the respective reporting dates shown at December 31, 2024 and 2023. Fair value is generally the exchange price that would be received for an asset in the principal or most advantageous market for the asset in an orderly transaction between market participants on the measurement date. The fair value of all equity securities has been determined based upon quoted market prices at the close of market trading on nationally recognized securities exchanges (Level 1) on the report date. The fair value of all debt securities has been determined at the close of market trading on the report date, utilizing matrix pricing, which is a mathematical technique widely used in the financial industry to value debt securities without relying exclusively on quoted prices for specific securities (Level 2). The fair value of money market instruments and other assets was the cash value for the financial instruments or other accounts as of the close of the market on the report date (Level 1). The Retirement Plan did not hold any assets on the respective report dates that were not traded in established markets, requiring alternative fair value determinations utilizing significant unobservable inputs (Level 3). The fair value of the Retirement Plan assets at December 31, 2024 and 2023, by asset category, were as follows:

| (in thousands)                  
 December 31, 2024               |     | Fair Value Measurements Using 
                       Level 1 |     | Level 2 |     | Level 3 |     |  Total |
|:--------------------------------|:----|------------------------------:|:----|:--------|:----|:--------|:----|-------:|
| Plan Assets                     |     |                               |     |         |     |         |     |        |
| Debt securities                 |     |                               |     |         |     |         |     |        |
| U.S. Government Agencies        |     |                            $— |     | $—      |     | $—      |     |     $— |
| Fixed Income Corporate Bonds    |     |                             — |     | —       |     | —       |     |      — |
| Fixed Income Mutual Funds       |     |                             — |     | —       |     | —       |     |      — |
| Money Market