Mechanics Bancorp (MCHB) reported second-quarter 2026 net income of $57.7 million, or $0.25 per diluted Class A share, compared with $44.1 million, or $0.19 per diluted share, in the first quarter of 2026.
The company said it substantially completed its merger with HomeStreet, sold its Fannie Mae DUS business line and paid $162 million in cash dividends during the quarter.
- Total assets were $21.2 billion at June 30, 2026, compared with $21.4 billion at March 31, 2026.
- Total loans were $13.6 billion, down from $13.9 billion at the prior quarter-end.
- Total deposits were $18.1 billion, compared with $18.2 billion at March 31, 2026.
- Net interest income was $177.2 million, down from $179.0 million in the first quarter.
- Noninterest income rose to $23.8 million from $21.0 million in the prior quarter.
- Estimated capital ratios at June 30 included a 14.39% CET1 ratio and a 16.70% total risk-based capital ratio.
