Highest-materiality recent filing
Mechanics Bancorp completes sale of Fannie Mae DUS business to Fifth Third for $126M cash
Sale of Fannie Mae Delegated Underwriting and Servicing (DUS) business line completed May 1, 2026.
Mechanics Bancorp Q1 net income $44.1M ($0.19/diluted EPS), down 60% from Q4 2025; CET1 13.91%
Net income of $44.1M ($0.19 diluted EPS) vs $111.2M ($0.48) in Q4 2025, a 60% decline.
Mechanics Bancorp Q4 net income $124.3M ($0.54 EPS), up from $55.2M Q3; full year $265.7M
Net income Q4 2025 $124.3M vs $55.2M Q3 2025; diluted EPS $0.54 vs $0.25.
Mechanics Bancorp to sell Fannie Mae DUS business to Fifth Third for ~$130M cash
Purchase price ~$130M cash, subject to adjustment for changes in fair value of mortgage servicing rights.
Mechanics Bancorp declares $0.21/$2.10 per share dividend; cites strong integration progress
Cash dividend of $0.21 per Class A share and $2.10 per Class B share payable Dec 15, 2025 to holders of record Dec 8.
Mechanics Bancorp reports Q3 net income $55.2M after HomeStreet merger
Net income $55.2M ($0.25 diluted EPS), up from $42.5M ($0.20) in Q2 2025.
Mechanics Bancorp files pro forma for merger; bargain purchase gain of $111.4M
Mechanics Bank shareholders to own 91.34% of combined entity; fixed exchange ratio of 3,301.09 Class A shares per Mechanics Bank voting share.
Mechanics Bank shareholders received 3,301.092 Class A shares per voting share; own 91.7% of combined company.
HomeStreet shareholders approve all merger proposals with Mechanics Bank
Articles amendment approved (12,527,673 for) to change name to Mechanics Bancorp and increase authorized shares to 1.9B Class A and 2.5M Class B.
HomeStreet and Mechanics Bank receive all regulatory approvals; merger closing set for Sept 2, 2025
Approvals from Fed, FDIC, CA and WA state regulators received for all-stock merger.
HomeStreet supplements merger proxy after shareholder lawsuits; meeting Aug 21
Shareholder complaints filed alleging insufficient disclosures in merger proxy statement; HomeStreet denies merits but voluntarily supplements.
HomeStreet enters all-stock merger with Mechanics Bank; CEO Mark Mason to depart post-closing
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 and Mechanics Bank announce all-stock merger creating $23B West Coast bank
HomeStreet valued at ~$300M, Mechanics Bank at ~$3.3B in all-stock deal.
HomeStreet closes sale of $990M multifamily loans at ~92% of principal
Sold $990M multifamily CRE loans on Dec 27 and 30, 2024, on a servicing retained basis.
HomeStreet sells $990M multifamily loan portfolio to Bank of America at 91.46% of par
Sale of ~190 commercial multifamily loans with $990M UPB to Bank of America for ~$906M (91.46% of UPB).
HomeStreet and FirstSun mutually terminate merger agreement from Jan 2024
Mutual termination effective Nov 18, 2024, under Section 8.1(a) of the Merger Agreement.
FirstSun-HomeStreet merger regulatory approvals not obtained; alternative structure under discussion
Regulatory approvals from Fed and Texas Dept. of Banking not obtained; applications asked to be withdrawn.
HomeStreet shareholders approve merger with FirstSun Capital Bancorp
Preliminary vote count at June 18 special meeting indicates shareholders approved merger agreement dated Jan 16, 2024, as amended April 30.
Merger Agreement with FirstSun approved: 14,406,587 for, 93,127 against, 89,641 abstain, 2,475,535 broker non-votes.
Exchange ratio reduced from 0.4345 to 0.3867; implied value of $13.53 per HomeStreet share based on FSUN close.
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
Max materiality 0.90 · Median 0.50 · Most common event other_material