---
schema_version: "secwatch.filing_event.v1"
accession: "0001518715-26-000068"
form_type: "8-K"
ticker: "MCHB"
cik: "0001518715"
company_name: "Mechanics Bancorp"
filed_at: "2026-09-16T22:26:59+00:00"
generated_at: "2026-09-17T10:06:03.185110+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Mechanics Bancorp sells ~$417M auto loan portfolio to Bank of America

## Summary
- Sold ~$417M of performing indirect auto loans to Bank of America trading desk at near book value (cutoff Aug 31, 2026).
- Mechanics Bank retains ~$13M of runoff auto loans after the sale.
- Westlake Portfolio Management will continue servicing the auto loans for both Bank of America and Mechanics Bank.
- CEO Johnson says sale reduces risk, improves liquidity, and enhances future profitability.

## SEC filing metadata
- accession: 0001518715-26-000068
- form_type: 8-K
- ticker: MCHB
- cik: 0001518715
- company_name: Mechanics Bancorp
- filed_at: 2026-09-16T22:26:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1518715/000151871526000068/0001518715-26-000068-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1518715/000151871526000068/hmst-20260916.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001518715-26-000068
- JSON: https://secwatch.observer/filing/0001518715-26-000068.json
- Plain text: https://secwatch.observer/filing/0001518715-26-000068.txt

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