Mechanics Bancorp (MCHB) Form 8-K — Oct 28, 2026
$MCHBForm 8-KItems 2.02, 7.01, 9.01Filed Oct 28, 2026, 4:28 PM ET0001518715-26-000070Original filing
Mechanics Bancorp (Nasdaq: MCHB) reported Q3 2026 net income of $46.0 million, or $0.20 per diluted share, down from $57.7 million and $0.25 in Q2 2026, on $20.9 billion of total assets. The quarter included several one-time items: a $32.3 million loss on a $308 million AFS securities restructuring, a $10.3 million loss on the sale of $417 million of run-off auto loans, and a $15.2 million provision reversal. Excluding non-core items, core net income grew to $60.6 million from $59.0 million, with the core efficiency ratio improving to 54.4%.
Key figures
- Eps
- 0.2
- Revenue
- 174902000
- Guidance
- ~$420 million core annualized NIE in Q4'26; ~17% ROATCE and ~1.2% ROAA in 2027; long-run ROATCE target 18%+; 2027E dividend yield ~8%; expects ~$100mm Q4 dividend
- Net Income
- 46000000
- Total Assets
- 20900000000
- Cash Position
- 602455000
- Nim
- 3.55%
- Cet1 ratio
- 14.73%
- Total loans
- 13000000000
- Auto loan sale
- $417 million (with $10.3 million loss)
- Total deposits
- 18000000000
- Core net income
- 60600000
- Cost of deposits
- 1.33%
- Loans to deposits
- 72%
- Provision reversal
- 15200000
- Book value per share
- 11.59
- Expected q4 dividend
- ~$100 million (~$0.43 per Class A share)
- Core efficiency ratio
- 54.4%
- Afs restructuring loss
- 32300000
- Dividends paid q3 class a
- 0.25
- Tangible book value per share
- 7.05
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