Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 338

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 338
---
 well as evaluate the overall presentation of the consolidated financial statements. |

| • | Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Mechanics Bank’s ability to continue as a going concern for a reasonable period of time. |

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.

| /s/ Crowe LLP |

Sacramento, California March 20, 2025, except for Note 23 — EARNINGS PER SHARE for which the date is July 3, 2025

F-3

TABLE OF CONTENTS

MECHANICS BANK CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2024 AND 2023

| (in thousands, except shares)                                                                                                        |     | December 31, 2024 |     | December 31, 2023 |
|:-------------------------------------------------------------------------------------------------------------------------------------|:----|------------------:|:----|------------------:|
| ASSETS                                                                                                                               |     |                   |     |                   |
| Cash and cash equivalents                                                                                                            |     |          $999,711 |     |        $1,457,569 |
| Securities available-for-sale, at fair value                                                                                         |     |         3,065,251 |     |         2,343,173 |
| Securities held-to-maturity, at amortized cost (fair value of $1,196,000 and $1,309,249 at December 31, 2024 and 2023, respectively) |     |         1,440,494 |     |         1,542,116 |
| Loans held for sale                                                                                                                  |     |               543 |     |               440 |
| Loan and lease receivables                                                                                                           |     |         9,643,497 |     |        10,777,756 |
| Allowance for credit losses on loans and leases                                                                                      |     |           -88,558 |     |          -133,778 |
| Net loan and lease receivables                                                                                                       |     |         9,554,939 |     |        10,643,978 |
| Other real estate owned                                                                                                              |     |            15,600 |     |            17,011 |
| Federal Home Loan Bank stock, at cost