Mechanics Bancorp (MCHB): M&A transaction — HomeStreet completes merger with Mechanics Bank; renamed Mechanics Bancorp; control shifts to Ford Entities

Mechanics Bancorp

Mechanics Bank shareholders received 3,301.092 Class A shares per voting share; own 91.7% of combined company.
Ford Entities (controlling Mechanics Bank) received 171.8M unregistered Class A shares, gaining 77.7% voting power.
Ticker changes to "MCHB" on Nasdaq; company renamed Mechanics Bancorp.
New leadership: CEO C.J. Johnson, CFO Nathan Duda, COO Chris Pierce, CAO Fernando Pelayo appointed.
Legacy HomeStreet CEO Mark Mason receives $4M consulting fee over 2 years; severance for other departing execs.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Mechanics Bancorp underwent a change of control involving Mechanics Bank (closed 2025-09-02).

Action: change of control
Counterparty: Mechanics Bank
Closing: 2025-09-02

Exact text from the filing

On September 2, 2025 (the “Closing Date”), Mechanics Bancorp (formerly known as HomeStreet, Inc.), a Washington corporation (the “Company”), consummated the previously announced merger (the “Merger”) pursuant to the terms of the Agreement and Plan of Merger, dated as of March 28, 2025 (as amended, the “Merger Agreement”), by and among the Company, HomeStreet Bank, a Washington state-charted commercial bank and a wholly owned subsidiary of the Company (“HomeStreet Bank”), and Mechanics Bank, a California banking corporation (“Mechanics Bank”).

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Source: SEC EDGAR

accession 0001140361-25-033560

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