Company: MCHB
Filing Date: 2025-04-15
Form Type: ARS
Source: 0001518715-25-000069
Chunk: 85

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: ARS
Chunk 85
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 Basis of Modified Loans That Subsequently Defaulted Year Ended December 31, 2023 (in thousands) Significant Payment Delay Term Extension Interest Rate Reduction and Term Extension Significant Payment Delay and Term Extension Interest Rate Reduction, Significant Payment Delay and Term Extension Commercial business $ — $ 976 $ — $ — $ — Single family — — — 1,354 — Total $ — $ 976 $ — $ 1,354 $ — 68

NOTE 4–PREMISES AND EQUIPMENT, NET: Premises and equipment consisted of the following: At December 31, (in thousands) 2024 2023 Furniture and equipment $ 56,121 $ 56,777 Leasehold improvements 37,265 38,870 Land and buildings 42,374 42,153 Total 135,760 137,800 Less: accumulated depreciation (88,559) (84,218) Net $ 47,201 $ 53,582 NOTE 5–DEPOSITS: Deposit balances, including their weighted average rates, were as follows: At December 31, 2024 2023 (dollars in thousands) Amount Weighted Average Rate Amount Weighted Average Rate 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 5.36 % Other 2,516,366 4.37 % 2,009,946 3.95 % Total interest bearing deposits 5,217,240 3.31 % 5,456,875 3.19 % Total deposits $ 6,413,021 2.65 % $ 6,763,378 2.58 % There were $315 million and $255 million in public funds included in deposits at December 31, 2024 and 2023, respectively. Certificates of deposit outstanding mature as follows: (in thousands) December 31, 2024 Within one year $ 3,157,293 One to two years 105,759 Two to three years 2