Mechanics Bancorp filed its Form 10-Q for the quarterly period ended September 30, 2026 with the Securities and Exchange Commission on November 6, 2026, reporting consolidated balance sheet figures reflecting its first full year of combined operations following the September 2, 2025 merger of HomeStreet Bank into Mechanics Bank.

Key Highlights

  • Total assets of $20,944,704 thousand at September 30, 2026, down from $22,351,475 thousand at December 31, 2025.
  • Net loan receivables of $12,879,377 thousand at September 30, 2026, compared to $14,023,617 thousand at December 31, 2025, with an allowance for credit losses on loans of $133,621 thousand.
  • Total deposits of $18,019,474 thousand at September 30, 2026, down from $19,024,997 thousand at December 31, 2025.
  • Retained earnings of $290,969 thousand at September 30, 2026, compared to $456,695 thousand at December 31, 2025.
  • 220,360,304 shares of Class A common stock outstanding as of November 2, 2026, alongside 1,114,448 shares of Class B common stock outstanding.
  • Goodwill of $843,305 thousand held at both September 30, 2026 and December 31, 2025, with other intangible assets, net declining to $90,937 thousand from $212,491 thousand.

Mechanics Bancorp Balance Sheet Position for the Quarter Ended September 30, 2026

According to the filing, Mechanics Bancorp (NASDAQ:MCHB) reported total assets of $20,944,704 thousand at September 30, 2026, a decrease from $22,351,475 thousand at December 31, 2025. The company disclosed that cash and cash equivalents declined to $602,455 thousand from $1,029,983 thousand over the same period. Securities available-for-sale, carried at fair value, increased to $4,292,236 thousand from $3,993,385 thousand, while securities held-to-maturity, at amortized cost, decreased to $1,259,501 thousand from $1,336,632 thousand.

The filing reported gross loan receivables of $13,012,998 thousand at September 30, 2026, down from $14,176,936 thousand at December 31, 2025. After deducting the allowance for credit losses on loans of $133,621 thousand (compared to $153,319 thousand at year-end 2025), net loan receivables stood at $12,879,377 thousand. Mortgage servicing rights, which includes $60,700 thousand carried at fair value, totaled $60,971 thousand at September 30, 2026, down from $85,832 thousand at December 31, 2025. Other intangible assets, net fell to $90,937 thousand from $212,491 thousand at December 31, 2025.

On the liabilities side, the company disclosed total deposits of $18,019,474 thousand at September 30, 2026, compared to $19,024,997 thousand at December 31, 2025. Long-term debt decreased to $131,992 thousand from $192,014 thousand. Total liabilities were reported at $18,377,218 thousand, down from $19,489,100 thousand. The filing also noted that the financial results for all periods prior to September 2, 2025 reflect Mechanics Bank's standalone results, with the combined company results beginning from that merger closing date. Share quantities and per-share metrics have been retrospectively restated to reflect the equivalent number of shares issued in the merger, as the transaction was accounted for as a reverse acquisition.

What Was Disclosed

Mechanics Bancorp's 10-Q for the period ended September 30, 2026 disclosed consolidated balance sheet data showing declines in total assets, net loans, and total deposits from December 31, 2025, alongside share counts and equity figures as of the filing date.