Mechanics Bancorp
Runs a West Coast community bank centered on deposits, real estate lending, and wealth services.
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Profile
Collects consumer and business deposits and lends across commercial real estate, multifamily housing, residential mortgages, commercial operations, autos, and other consumer needs. A West Coast branch network supports cash management, private banking, and wealth and trust services, while the loan book remains concentrated in real estate.
Operates a full-service community bank through a West Coast branch network spanning California, Oregon, Washington, and Hawaii. Consumer and business deposits fund commercial and industrial, multifamily, commercial real estate, residential mortgage, auto, and other consumer lending.
Pairs branch-based relationship banking with cash management, private banking, and wealth management and trust services. The HomeStreet combination expanded the geographic footprint; integration is substantially complete, and the acquired Fannie Mae multifamily agency-lending business has been sold.
Earns primarily from interest on loans and securities, supplemented by service charges, wealth and trust fees, and mortgage-related income. Operations remain subject to bank-capital, liquidity, and consumer-protection rules, while credit exposure is concentrated in multifamily and residential real estate and heavily tied to California collateral and borrowers.
Company facts
Categories
Key statistics
Year to date +7.9% · Average volume (30d) 622.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| May 28, 2026 | Raymond James | Target | $17 | ||
| May 28, 2026 | Stifel Nicolaus | Target | $17 | ||
| Apr 10, 2026 | Cantor Fitzgerald | Target | $17 | ||
| Nov 5, 2024 | Wedbush | Upgrade | Neutral | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.25 | $0.27 | +8.0% | $199.3M | $201.0M | +0.8% | +0.67% |
| Apr 30, 2026Q1 FY26 | $0.26 | $0.21 | −19.2% | $258.2M | $200.1M | −22.5% | +1.02% |
| Jan 30, 2026Q4 FY25 | $0.26 | $0.56 | +115.4% | $48.4M | $260.0M | +437.2% | +4.67% |
| Oct 30, 2025Q3 FY25 | −$0.03 | $0.26 | +966.7% | $170.7M | $169.2M | −0.9% | −1.69% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $187.0M | $98.1M | $277.4M | $274.8M | $246.1M | $261.7M | |
| Gross profit | $145.5M | $43.0M | $171.2M | $224.6M | $175.5M | $203.9M | |
| Operating income | $61.5M | −$4.8M | $45.1M | $154.0M | $61.9M | $73.1M | |
| Net income | $43.8M | −$4.4M | $55.2M | $124.3M | $44.1M | $57.7M | |
| Diluted EPS | $0.20 | −$0.02 | $0.26 | $0.54 | $0.20 | $0.25 | |
| Gross margin | 77.8% | 43.8% | 61.7% | 81.7% | 71.3% | 77.9% | |
| Operating margin | 32.9% | -4.9% | 16.3% | 56.0% | 25.1% | 27.9% |
Fiscal years (4-quarter sums)FY21 $366.8M · FY22 $355.9M · FY23 $362.0M · FY24 $627.6M · FY25 $837.3M
Balance sheet, Jun 30, 2026Cash & short-term investments $4.67B · Total debt $208.6M · Total assets $21.23B · Shareholders' equity $2.69B
Dividends
Last cut to $0.25 from $0.70 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 28, 2026 | Aug 29 | Sep 1 | $0.25 | cut from $0.70 |
| May 22, 2026 | May 23 | May 28 | $0.70 | raised from $0.40 |
| Mar 9, 2026 | Mar 9 | Mar 19 | $0.40 | raised from $0.21 |
| Dec 8, 2025 | Dec 8 | Dec 15 | $0.21 | raised from $0.10 |
| Nov 7, 2023 | Nov 8 | Nov 22 | $0.10 | |
| Aug 8, 2023 | Aug 9 | Aug 23 | $0.10 | |
| May 9, 2023 | May 10 | May 24 | $0.10 | cut from $0.35 |
| Feb 7, 2023 | Feb 8 | Feb 22 | $0.35 |
Ownership
Shares outstanding 220.29M · Float 39.14M · 17.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Ford Ultimate Management II, LLC | 171.77M | 78.10% | 13D | Sep 9, 2025 |
| Carl B. Webb · director, 10 percent owner: | 81.13M | 36.83% | Form 4 | Sep 8, 2025 |
| Douglas E. Downer · director | 2.32M | 1.05% | Form 4 | May 29, 2026 |
| Edward Michael Downer · director | 1.13M | 0.51% | Form 4 | Jun 17, 2026 |
| Mark K. Mason · other: Consultant | 207.4K | 0.09% | Form 4 | Dec 18, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 15, 2026 | Edward Michael Downer | director | −2 | $15.13 |
Peers
- Western Alliance
Business-bank rival in commercial, CRE, treasury, and mortgage.
- Columbia Banking System
West Coast branch and commercial-banking overlap via Umpqua.
- Banc of California
California business-bank peer in deposits, treasury, and CRE.
- WaFd
Western-state bank overlap in branches, deposits, CRE, and mortgages.
- CVB Financial
California business-bank overlap with trust and deposit strength.
- First Hawaiian
Hawaii banking peer across deposits, lending, and wealth.
- Bank of Hawaii
Hawaii commercial and consumer bank competing for local relationships.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Mechanics Bancorp | $15.89 | −0.03% | $3.50B | 12.7 | 14.1 | 3.3 | +383.9% |
| Western Alliance | $78.53 | −0.03% | $8.57B | 8.8 | 7.5 | 1.7 | +17.7% |
| Columbia Banking System | $30.07 | 0.00% | $8.50B | 12.0 | 9.6 | 2.4 | +33.1% |
| Banc of California | $18.60 | −0.03% | $2.86B | — | 9.7 | 1.6 | — |
| WaFd | $36.09 | 0.00% | $2.67B | 11.0 | 10.9 | 1.9 | +10.3% |
| CVB Financial | $22.19 | 0.00% | $3.18B | 14.6 | 12.0 | 4.5 | +42.0% |
| First Hawaiian | $25.79 | +0.02% | $3.14B | 11.2 | 10.8 | 3.2 | +10.6% |
| Bank of Hawaii | $77.29 | −0.01% | $3.05B | 14.4 | 12.3 | 2.8 | +14.9% |
| Median | 11.6 | 10.8 | 2.4 | +16.3% |