Company: MCHB
Filing Date: 2025-04-15
Form Type: ARS
Source: 0001518715-25-000069
Chunk: 11

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: ARS
Chunk 11
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 assets 411,000 446,814 Total assets $ 9,259,233 $ 9,469,170 Interest-bearing liabilities Interest-bearing deposits: (2) Demand deposits $ 317,657 $ 854 0.27 % $ 385,276 $ 917 0.24 % Money market and savings 1,746,779 29,200 1.66 % 2,235,348 30,874 1.37 % Certificates of deposit 3,072,605 144,198 4.69 % 2,768,594 106,129 3.83 % Total 5,137,041 174,252 3.39 % 5,389,218 137,920 2.56 % Borrowings: Borrowings 1,981,042 95,883 4.77 % 1,752,454 82,861 4.68 % Long-term debt 224,950 12,351 5.46 % 224,574 12,209 5.41 % Total interest-bearing liabilities 7,343,033 282,486 3.82 % 7,366,246 232,990 3.15 % Noninterest-bearing liabilities Demand deposits (2) 1,284,605 1,430,151 Other liabilities 101,235 120,539 Total liabilities 8,728,873 8,916,936 Shareholders' equity 530,360 552,234 Total liabilities and shareholders’ equity $ 9,259,233 $ 9,469,170 Net interest income $ 124,368 $ 171,381 Net interest rate spread 0.73 % 1.30 % Net interest margin 1.38 % 1.88 % (1) Includes taxable-equivalent adjustments primarily related to tax-exempt income on certain loans and securities of $4.3 million and $4.6 million for 2024 and 2023, respectively. The estimated federal statutory tax rate was 21% for both 2024 and 2023. (2) Cost of all deposits, including noninterest-bearing demand deposits, was 2.71% and 2.02% for 2024 and 2023, respectively. 11

Rate and Volume Analysis The following table presents the extent to which changes in interest rates and changes in the volume of our interest-earning assets and interest-bearing liabilities