Company: MCHB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001518715-25-000083
Chunk: 33

Company: Mechanics Bancorp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 33
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FI and the allowance for unfunded commitments was as follows: Quarter Ended March 31,(in thousands)20252024Beginning balance$38,743 $40,500 Provision for credit losses888242Net (charge-offs) recoveries3 (1,065)Ending balance$39,634 $39,677 Allowance for unfunded commitments:Beginning balance$1,146 $1,823 Provision for credit losses112 (242)Ending balance$1,258 $1,581 Provision for credit losses:Allowance for credit losses - loans$888 $242 Allowance for unfunded commitments112 (242)Total$1,000 $— 

15

Activity in the ACL for LHFI by loan portfolio and loan sub-class was as follows:Quarter Ended March 31, 2025(in thousands)Beginning balanceCharge-offsRecoveriesProvision Ending balanceCRENon-owner occupied CRE$1,739 $— $— $(81)$1,658 Multifamily14,909 — — (1,622)13,287 Construction/land developmentMultifamily construction849 — — (381)468 CRE construction66 — — 7 73 Single family construction6,737 — — (1,033)5,704 Single family construction to permanent184 — — (44)140 Total24,484 — — (3,154)21,330 Commercial and industrial loansOwner occupied CRE576 — — 22 598 Commercial business6,886 (21)25 3,758 10,648      Total 7,462 (21)25 3,780 11,246 Consumer loansSingle family3,610 — 2 90 3,702 Home equity and other3,187 (40)37 172 3,356 Total6,797 (40)39 262 7,058 Total ACL$38,743 $(61)$64 $888 $39,634 Quarter Ended March 31, 2024(in thousands)Beginning balanceCharge-offsRecoveriesProvision Ending balanceCRENon-owner occupied CRE$2,610 $— $— $(479)$2,131 Multifamily13,093 — — 5,854