Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 360

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 360
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, assessment of regulatory and financial ratios, and general standing versus peer group. Management expects to recover the entire amortized cost basis of these securities. Securities with a gross carrying value of $1.4 billion and $1.1 billion at December 31, 2024 and 2023, respectively, were pledged to secure the Bank’s obligations for securities sold under agreements to repurchase and to collateralize certain public, trust and bankruptcy deposits as required by law. The amortized cost and fair value of debt securities are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. As of December 31, 2024, there were no past due or nonaccrual available-for-sale or held-to-maturity securities. Contractual maturities of securities as of December 31, 2024 were as follows:

| (in thousands)                           |     | Amortized Cost |     |  Estimated 
 Fair Value |
| Securities available-for-sale            |     |                |     |            |
| Due in one year or less                  |     |        $13,086 |     |    $13,047 |
| Due after one year through five years    |     |            746 |     |        743 |
| Due after five years through ten years   |     |         51,276 |     |     46,020 |
| Due after ten years                      |     |         70,659 |     |     70,891 |
| Subtotal                                 |     |        135,767 |     |    130,701 |
| Mortgage-backed securities – residential |     |      2,694,745 |     |  2,643,688 |
| Mortgage-backed securities – commercial  |     |        259,793 |     |    240,862 |
| Collateralized loan obligations          |     |         50,000 |     |     50,000 |
| Total securities available-for-sale      |     |     $3,140,305 |     | $3,065,251 |
| Securities held-to-maturity              |     |                |     |            |
| Due in one year or less                  |     |         $3,000 |     |     $3,000 |
| Due after one year through five years    |     |