Mechanics Bancorp to sell Fannie Mae DUS business to Fifth Third for ~$130M cash

Mechanics Bancorp

Purchase price ~$130M cash, subject to adjustment for changes in fair value of mortgage servicing rights.
Acquired portfolio includes ~$1.8B in DUS servicing rights and associated escrow deposits.
Closing expected Q1 2026, conditioned on Fannie Mae's approval of Fifth Third as authorized DUS lender.
Mechanics Bank employees operating the DUS business will be hired by Fifth Third.

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.