FirstSun-HomeStreet merger regulatory approvals not obtained; alternative structure under discussion

Mechanics Bancorp

Regulatory approvals from Fed and Texas Dept. of Banking not obtained; applications asked to be withdrawn.
FirstSun and HomeStreet discussing alternative regulatory structure or termination if none feasible.
HomeStreet states its regulators found no concerns specific to HomeStreet that would prevent approval.
FirstSun CEO cites challenging external regulatory environment; company remains focused on organic growth.

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