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Mechanics Bancorp operates as the holding company for Mechanics Bank that provides banking services in California, Oregon, Washington, and Hawaii.It offers various checking and savings accounts, retirement accounts, money market accounts, time certificates of deposit, and safe deposit boxes. The company also provides home loans, auto loans, term loans and lines of credit, owner occupied real estate lending services, small business lending loans, multi-family lending services; mortgage and consumer lending loans; commercial real estate loans; residential construction loans; private banking, such as loan program, personal lines of credit and investment management and trust lines of credit. In addition, it offers unsecured consumer installment loans and personal reserve accounts; automated bill payments, remote and mobile deposit capture, automated clearing house origination, wire transfer, lockbox, payee positive pay, and direct deposit; digital banking. Further, the company provides real estate, escrow services, title, labor unions, nonprofits and property management services. Mechanics Bancorp was founded in 1905 and is headquartered in Walnut Creek, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $650M | - | $266M | $187M | 9.3% | 74.3% | 816.4% |
| 2024 | $373M | - | $29M | $286M | 1.3% | -40.2% | -85.6% |
| 2023 | $624M | - | $202M | $259M | 9.0% | -8.8% | -6.8% |
| 2022 | $684M | - | $217M | $309M | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 683.99 | 623.67 | 373.07 | 650.12 |
| Pretax Income | 302.13 | 277.94 | 35.70 | 319.55 |
| Tax Provision | 85.55 | 76.03 | 6.70 | 53.81 |
| Net Income | 216.58 | 201.91 | 29 | 265.74 |
| Net Income Common Stockholders | 216.58 | 201.91 | 29 | 265.74 |
| Interest Expense | 19.84 | 155.75 | 216.55 | 226.05 |
| Interest Income | 651.07 | 718.96 | 735.72 | 811.76 |
| Selling General And Administration | 219.85 | 213.58 | 209.07 | 231.45 |
| Normalized Income | 216.58 | 201.91 | 29 | 205.78 |
| Basic EPS | 0.98 | 0.91 | 0.13 | 0 |
| Diluted EPS | 0.98 | 0.91 | 0.13 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 12.14 |
| Tax Rate For Calcs | 0.28 | 0.27 | 0.19 | 0.17 |
| Total Unusual Items | 0 | 0 | 0 | 72.09 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 0 | 72.09 |
| Net Income From Continuing Operation Net Minority Interest | 216.58 | 201.91 | 29 | 265.74 |
| Reconciled Depreciation | 31.66 | 27.99 | 22.82 | 27.75 |
| Net Interest Income | 631.23 | 563.21 | 519.17 | 585.72 |
| Net Income From Continuing And Discontinued Operation | 216.58 | 201.91 | 29 | 265.74 |
| Diluted Average Shares | 220.92 | 220.92 | 220.92 | 0 |
| Basic Average Shares | 220.92 | 220.92 | 220.92 | 0 |
| Diluted NI Availto Com Stockholders | 216.58 | 201.91 | 29 | 265.74 |
| Net Income Including Noncontrolling Interests | 216.58 | 201.91 | 29 | 265.74 |
| Net Income Continuous Operations | 216.58 | 201.91 | 29 | 265.74 |
| Special Income Charges | 0 | 0 | 0 | 72.09 |
| Restructuring And Mergern Acquisition | 0 | 0 | 0 | -72.09 |
| Gain On Sale Of Security | -11.23 | 0 | -207.20 | 4.57 |
| Depreciation Amortization Depletion Income Statement | 20.67 | 17.32 | 13.45 | 17.13 |
| Depreciation And Amortization In Income Statement | 20.67 | 17.32 | 13.45 | 17.13 |
| Amortization | 20.67 | 17.32 | 13.45 | 17.13 |
| Amortization Of Intangibles Income Statement | 20.67 | 17.32 | 13.45 | 17.13 |
| Selling And Marketing Expense | 7.83 | 3.36 | 3.27 | 3.13 |
| General And Administrative Expense | 212.02 | 210.22 | 205.80 | 228.32 |
| Insurance And Claims | 6.09 | 9.23 | 14.62 | 9 |
| Salaries And Wages | 205.92 | 200.99 | 191.17 | 219.32 |
| Operating Revenue | 683.99 | 623.67 | 373.07 | 650.12 |
| Occupancy And Equipment | 56.72 | 58.59 | 55.73 | 67.11 |
| Professional Expense And Contract Services Expense | 22.03 | 20.60 | 21.37 | 23.20 |
| Other Non Interest Expense | 35.97 | 34.89 | 39.27 | 44.26 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Mechanics Bancorpthis co. | MCHB | $3.4B | 12.44↓ discount | 1.17 | 9.3% | - |
| Marex Group plc | MRX | $3.9B | 13.89 | 3.30 | 24.3% | - |
| F&G Annuities & Life, Inc. | FG | $3.8B | 15.10 | 0.80 | 5.4% | 6.28 |
| WesBanco, Inc. | WSBC | $3.3B | 10.41 | 0.86 | 5.5% | - |
| TowneBank | TOWN | $3.2B | 15.81 |
| 1.10 |
| 7.0% |
| - |
| Hamilton Insurance Group, Ltd. | HG | $3.2B | 5.76 | 1.12 | 20.4% | 2.37 |
| Nicolet Bankshares, Inc. | NIC | $3.1B | 16.94 | 1.70 | 12.0% | - |
| DigitalBridge Group, Inc. | DBRG | $3.0B | 29.36 | 2.17 | 5.8% | -166.42 |
| Upstart Holdings, Inc. | UPST | $2.9B | 67.73 | 3.74 | 6.7% | 42.65 |
| Peer Median | - | 15.45 | 1.41 | 6.8% | 4.33 | |