Company: MCHB
Filing Date: 2025-04-15
Form Type: ARS
Source: 0001518715-25-000069
Chunk: 18

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: ARS
Chunk 18
---
) (86,463) 846 Total $ (76,890) $ 9,346 (1) May include loans originated as held for investment. 2024 amount includes sale of $990 million of multifamily loans in the fourth quarter. (2) May include loans originated as held for investment. 2024 amount includes loss of $88.8 million on sale of $990 million of multifamily loans in the fourth quarter. 17

Capitalized Mortgage Servicing Rights ("MSRs") Years Ended December 31, (in thousands) 2024 2023 Single Family MSRs Beginning balance $ 74,249 $ 76,617 Additions and amortization: Originations 3,409 3,136 Purchases — 460 Amortization (1) (6,500) (6,378) Net additions and amortization (3,091) (2,782) Change in fair value due to assumptions (2) 1,743 414 Ending balance $ 72,901 $ 74,249 Ratio to related loans serviced for others 1.41 % 1.40 % Multifamily and SBA MSRs Beginning balance $ 29,987 $ 35,256 Originations 2,190 509 Amortization (5,612) (5,778) Ending balance $ 26,565 $ 29,987 Ratio to related loans serviced for others 1.38 % 1.58 % (1) Represents changes due to collection/realization of expected cash flows and curtailments. (2) Principally reflects changes in model assumptions, including prepayment speed assumptions, which are primarily affected by changes in mortgage interest rates. Deposits Deposit balances and weighted average rates were as follows for the periods indicated: At December 31, 2024 2023 (in thousands) Amount Weighted Average Rate Amount Weighted Average Rate Deposits by product: Noninterest-bearing demand deposits $ 1,195,781 — % $ 1,306,503 — % Interest-bearing: Interest-bearing demand deposits 323,112 0.35 % 344,748 0.25 % Savings 229,659 0.06 % 261,508 0.06 % Money market 1,396,697 1.72 % 1,622,665 1.79 % Certificates of deposit Brokered deposits 751,406 4.61 % 1,218,008 5.