Company: MCHB
Filing Date: 2025-08-07
Form Type: 425
Source: 0001518715-25-000116
Chunk: 5

Company: Mechanics Bancorp
Filing Date: 2025-08-07
Form: 425
Chunk 5
---
2029
, in each case applying the pro forma assumptions. This analysis utilized the assumptions provided by HomeStreet management that the pro forma combined company would maintain a tangible common equity to tangible assets ratio of 8.00% and would retain sufficient earnings to maintain that level. In calculating implied terminal values of the pro forma combined company, KBW applied a range of 12.0x to 16.0x the pro forma combined company’s estimated 2030 earnings based on similar multiples for comparable companies and the professional judgment of KBW. This dividend discount model analysis resulted in an illustrative range of implied values for each share of the combined company that existing HomeStreet shareholders would have as a result of the merger of $15.07 to $19.91.

4. The disclosure under “Opinion of HomeStreet’s Financial Advisor” on page 150 of the Proxy Statement/Prospectus/Consent Solicitation Statement is hereby supplemented adding the following to the end of the third full paragraph:

In the two years preceding the date of its opinion, KBW did not provide investment banking or financial advisory services to the Ford Entities. KBW may in the future provide investment banking and/or financial advisory services to the Ford Entities.

5. The disclosure under “Certain Unaudited Prospective Financial Information” on page 152 of the Proxy Statement/Prospectus/Consent Solicitation Statement is hereby supplemented adding the following after the third full paragraph:

Certain closing balance sheet estimates for Mechanics and HomeStreet

The following table presents certain closing balance sheet estimates assumed as of September 30, 2025, for Mechanics and HomeStreet taken from Mechanics and HomeStreet management estimates, respectively, that were used by KBW at the direction of HomeStreet management in the financial analyses performed by KBW in connection with KBW’s opinion, as described in the section entitled “The Merger—Opinion of HomeStreet’s Financial Advisor.”

| Balance Sheet as of 9/30/2025 
 ($ in millions)               |     | Mechanics |          |     | HomeStreet |         |
|:------------------------------|:----|:----------|---------:|:----|:-----------|--------:|
| Assets                        |     | $         | 16,800.0 |     | $          | 7,679.0 |
| Gross Loans                   |     | $         |  9,826.9 |     | $          | 5,909.9 |
| Deposits                      |     | $         |