Company: MCHB
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001518715-25-000026
Chunk: 124

Company: Mechanics Bancorp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 8
Chunk 124
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 to borrowers. A weighted average 0.37% of loan balances were capitalized and added to the remaining term of the loan.Term ExtensionYears Ended December 31,20242023Non-owner occupied CREAdded a weighted average 0.8 years to the life of loans, which reduced the monthly payment amounts to the borrowers.Added a weighted average 2.1 years to the life of loans, which reduced the monthly payment amounts to the borrowers.Construction/land developmentAdded a weighted average 0.6 years to the life of loans, which reduced the monthly payment amounts to the borrowers.Added a weighted average 1.6 years to the life of loans, which reduced the monthly payment amounts to the borrowers.Owner occupied CREAdded a weighted average 3.0 years to the life of loans, which reduced the monthly payment amounts to the borrowers.—Commercial businessAdded a weighted average 0.8 years to the life of loans, which reduced the monthly payment amounts to the borrowers.Added a weighted average 1.2 years to the life of loans, which reduced the monthly payment amounts to the borrowers.Single familyAdded a weighted average 3.9 years to the life of loans, which reduced the monthly payment amounts to the borrowers.Added a weighted average 4.9 years to the life of loans, which reduced the monthly payment amounts to the borrowers.Upon determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount.

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The following table depicts the payment status of loans that were modified to borrowers experiencing financial difficulties on or after October 1, 2023 through September 30, 2024:Payment Status (Amortized Cost Basis) at December 31, 2024(in thousands)Current30-89 Days Past Due90+ Days Past DueMultifamily$— $— $1,915 Commercial business1,157 — 1,150 Single family1,690 — 875 Total$2,847 $— $3,940 The following table depicts the payment status of loans that were modified to borrowers experiencing financial difficulties on or after October 1, 2022 through September 30, 2023:Payment Status (Amortized Cost Basis) at December 31, 2023