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AI brief of an SEC Form 8-K · Mechanics Bancorp (MCHB)

Mechanics Bancorp Q3 net income falls to $46.0 million from $57.7 million

Negative Impact 3 of 5 earnings Written later

Mechanics Bancorp reported third-quarter 2026 net income of $46.0 million, or $0.20 per diluted share, down from $57.7 million, or $0.25 per diluted share, in the second quarter of 2026. The decline reflected a $32.3 million loss on a securities portfolio restructuring and a $10.3 million loss on the sale of auto loans, partly offset by lower noninterest expense and acquisition and integration costs.

Key points

  • Q3 2026 net income $46.0 million, $0.20 diluted EPS, versus $57.7 million, $0.25 in Q2 2026
  • Nine-month 2026 net income $147.8 million, $0.64 per diluted share, versus $154.6 million, $0.72 in the nine months of 2025
  • Securities restructuring of $308 million produced a $32.3 million loss on sale; sale of $417 million in indirect auto loans produced a $10.3 million loss
  • Noninterest expense $114.2 million in Q3 2026 versus $124.5 million in Q2 2026; book value per share $11.59, tangible book value per share $7.05

The filing

CompanyMechanics Bancorp (MCHB)
Form8-K, current report
Filed with the SECOct 28, 2026, 4:28 PM ET
Accession number0001518715-26-000070

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 28, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.