Friday, October 29, 2021
Mechanics Bank (ticker: MCHB) today announced that its Board of Directors
declared a cash dividend of $810 per common share, payable on November 10, 2021
to all common stockholders of record as of the close of business on November 8,
2021. The determination to pay dividends in the future will be evaluated by the
Board of Directors and will depend upon, among other factors, results of
operations, financial condition, capital requirements and contractual
About Mechanics Bank
Mechanics Bank is an independent, full-service community
bank headquartered in Walnut Creek, California, with approximately $19 billion
in assets, a best-in-class deposit franchise and 123 branches. It was founded
in 1905 to assist local businesses and families and has remained focused on
building lasting customer relationships throughout its storied history. Today,
Mechanics Bank is one of the largest California-based banks and continues to
earn its reputation as a successful and trusted financial partner committed to
helping consumers, businesses and communities grow and prosper. Mechanics Bank
provides a highly personalized relationship banking experience that includes
consumer and business banking services, commercial lending, cash management
services, and comprehensive trust, investment and wealth management services.
Mechanics Bank received a rating of “Outstanding” from its primary regulator,
the Federal Deposit Insurance Corporation (FDIC), for its most recent Community
Reinvestment Act examination period of May 2016 through April 2019. Mechanics
Bank is a Member FDIC institution and Equal Housing Lender.
This press release contains forward-looking statements. All
statements made other than statements of historical fact are forward-looking
statements. You can identify these statements from our use of the word
"believe" or the negative of this term and similar expressions. These
statements, which have been included in reliance on the "safe harbor"
provisions of the federal securities laws, involve risks and uncertainties.
Except as required by law, we undertake no obligation to publicly update or
revise any forward-looking statement, whether as a result of new information,
future developments or otherwise.