Tuesday, March 15, 2022
Mechanics Bank is again one of America’s best banks based on growth, credit quality and profitability, according to Forbes. In its 13th annual report issued Feb. 3, 2022, the global media outlet ranked the Bank 32nd among the nation’s 100 largest publicly traded banks and thrifts.
“Among other things, Forbes’ acknowledgement is a testament to our exceptionally strong capital levels which far exceed the required minimums to be considered ‘well-capitalized’ in accordance with regulatory standards,” said John DeCero, president and chief executive officer of Mechanics Bank. “
Forbes’ research and rankings were supported by data from S&P Global Market Intelligence, which examined regulatory filings through Sept. 30, 2021. The metrics included return on average tangible common equity, return on average assets, net interest margin, efficiency ratio and net charge-offs as a percentage of total loans.