Company: MCHB
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001518715-25-000110
Chunk: 56

Company: Mechanics Bancorp
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 56
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Losses)At or for the Quarter Ended June 30, 2025      LHFI $1,380 $5 At or for the Quarter Ended June 30, 2024LHFI$3,131 $(2,692)At or for the Six Months Ended June 30, 2025LHFI $1,380 $26 At or for the Six Months Ended June 30, 2024LHFI$3,131 $(2,743)(1)  Represents the carrying value of loans for which adjustments are based on the fair value of the collateral.Fair Value of Financial InstrumentsThe following presents the carrying value, estimated fair value and the levels of the fair value hierarchy for the Company's financial instruments other than assets and liabilities measured at fair value on a recurring basis:  At June 30, 2025(in thousands)CarryingValueFairValueLevel 1Level 2Level 3Assets:Cash and cash equivalents$201,080 $201,080 $201,080 $— $— Investment securities HTM2,265 2,253 — 2,253 — LHFI5,886,374 5,663,119 — — 5,663,119 LHFS – multifamily and other18,784 18,795 — 18,795 — Mortgage servicing rights – multifamily and SBA24,502 30,339 — — 30,339 Federal Home Loan Bank stock51,718 51,718 — 51,718 — Other assets - GNMA EBO loans8,632 8,632 — — 8,632 Liabilities:Certificates of deposit$2,734,586 $2,729,172 $— $2,729,172 $— Borrowings1,040,000 1,045,449 — 1,045,449 — Long-term debt225,316 191,710 — 191,710 —   At December 31, 2024(in thousands)CarryingValueFairValueLevel 1Level 2Level 3Assets:Cash and cash equivalents $406,600 $406,600 $406,600 $— $— Investment securities HTM2,301 2,273