Mechanics Bancorp files pro forma for merger; bargain purchase gain of $111.4M

Mechanics Bancorp

Mechanics Bank shareholders to own 91.34% of combined entity; fixed exchange ratio of 3,301.09 Class A shares per Mechanics Bank voting share.
Preliminary purchase price of $265.8M based on $13.87/share; preliminary bargain purchase gain of $111.4M.
Pro forma combined assets of $24.1B; net interest income for H1 2025 was $353.4M.
Core deposit intangible of $101.4M recognized; DUS license intangible of $15.0M.
Pro forma net loss of $114.6M for FY2024 reflects Company historical losses and transaction adjustments.

item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.