---
schema_version: "secwatch.filing_event.v1"
accession: "0001518715-25-000056"
form_type: "8-K"
ticker: "MCHB"
cik: "0001518715"
company_name: "Mechanics Bancorp"
filed_at: "2025-04-03T23:59:59+00:00"
generated_at: "2026-05-23T22:32:06.315610+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# HomeStreet enters all-stock merger with Mechanics Bank; CEO Mark Mason to depart post-closing

## Summary
- All-stock deal: each share of Mechanics Bank voting common stock to be converted into 3,301.0920 shares of HomeStreet Class A common stock; non-voting to Class B at 330.1092 ratio.
- HomeStreet will be renamed 'Mechanics Bancorp' and remain publicly traded; Merger intended to qualify as tax-free reorganization.
- CEO Mark Mason's employment to terminate day after closing; he receives severance (2.5x salary + bonus) and $4M consulting fee over 2 years.
- HomeStreet entered voting agreements with Ford Entities and Rabobank to support the merger; those shareholders committed to vote in favor.
- Closing subject to regulatory approvals (Fed, FDIC, CA & WA) and shareholder votes; HomeStreet to file S-4 registration statement.

## SEC filing metadata
- accession: 0001518715-25-000056
- form_type: 8-K
- ticker: MCHB
- cik: 0001518715
- company_name: Mechanics Bancorp
- filed_at: 2025-04-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1518715/000151871525000056/0001518715-25-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1518715/000151871525000056/hmst-20250328.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001518715-25-000056
- JSON: https://secwatch.observer/filing/0001518715-25-000056.json
- Plain text: https://secwatch.observer/filing/0001518715-25-000056.txt

## Key facts
- Executive change
  Mark Mason was terminated as Chairman, Chief Executive Officer and President at Mechanics Bancorp.
  - Action: terminated
  - Role: Chairman, Chief Executive Officer and President
  source text: HomeStreet and Mechanics Bank entered into a consulting agreement (the “ Consulting Agreement ”) with Mark Mason, the Chairman, Chief Executive Officer and President of HomeStreet, pursuant to which Mr. Mason’s employment with HomeStreet and HomeStreet Bank will terminate on the first day following the closing of the Merger
  evidence_url: https://www.sec.gov/Archives/edgar/data/1518715/000151871525000056/0001518715-25-000056-index.htm

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