---
schema_version: "secwatch.filing_event.v1"
accession: "0001518715-24-000025"
form_type: "8-K"
ticker: "MCHB"
cik: "0001518715"
company_name: "Mechanics Bancorp"
filed_at: "2024-01-16T23:59:59+00:00"
generated_at: "2026-06-06T23:09:33.559476+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# HomeStreet to merge with FirstSun in all-stock deal; HMST shareholders get 0.4345 FSUN shares, 37% premium

## Summary
- HomeStreet shareholders receive 0.4345 FirstSun shares per HMST share, valued at $14.75 (37% premium to Jan 12 close).
- Combined entity with ~$17B assets; pro forma 2025 ROA ~1.4%, ROATCE ~17%, and 30%+ EPS accretion.
- $175M equity raise led by Wellington Management ($80M immediate, $95M at closing) to support balance sheet; CET1 >9%.
- Merger expected mid-2024, subject to regulatory and shareholder approvals; combined company to list on NASDAQ.
- Mark Mason (HomeStreet CEO) becomes Executive Vice Chairman; three HomeStreet directors join combined board.

## SEC filing metadata
- accession: 0001518715-24-000025
- form_type: 8-K
- ticker: MCHB
- cik: 0001518715
- company_name: Mechanics Bancorp
- filed_at: 2024-01-16T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1518715/000151871524000025/0001518715-24-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1518715/000151871524000025/hmst-20240116.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001518715-24-000025
- JSON: https://secwatch.observer/filing/0001518715-24-000025.json
- Plain text: https://secwatch.observer/filing/0001518715-24-000025.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.