WALNUT CREEK, Calif., and OAKLAND, Calif., Oct. 8, 2025 - Mechanics Bank has expanded on its California Community Impact Goals, which were developed with Rise Economy and introduced in January 2024. The enhancements, which correspond with the closing of Mechanics Bank's merger with HomeStreet Bank on September 2, 2025, further scale the bank's commitment to addressing the needs of low-and moderate-income communities across the Golden State.
The proposed goals strengthen Mechanics Bank's outreach through increased direct donations (over $3 million per year) and equity-equivalent investments (EQ-2s), and by expanding mortgage and small-business lending alongside the strategic deployment of other financial resources. These include Social Impact Bonds, investments in community land trusts, support for Native and Tribal communities, and other targeted initiatives. These efforts, when combined with the thousands of hours volunteered each year by Mechanics Bank's employees, reflect a bank-wide vision to foster economic opportunity and long-term stability in underserved areas.
"Lifting up people in need is achieved through focus and hard work," and C.J. Johnson, President and CEO of Mechanics Bank. "We appreciate our partnership with Rise Economy and look forward to continuing to make a uniquely positive impact in the California communities where we live and work."
"Rise Economy is please to join Mechanics Bank in announcing these enhanced commitments to California's BIPOC and working class communities. We applaud the bank for responding to community needs and for prioritizing investments in affordable housing, community land trusts, Native and Tribal communities, CDFIs, and climate resilience," saod Paulina Gonzalez-Brito, CEO of Rise Economy. "Community Benefits Agreements such as these demonstrate to the public which banks are serious about being part of the solutions to the challenges we face. We thank Mechanics Bank for its commitments and partnership."
Available on both Mechanics Bank's and Rise Economy's websites, the bank's Community Impact Goals will remain intact through the end of 2026, with select goals - such as EQ-2 investment levels - extending into 2028. Mechanics Bank and Rise Economy will work together to assess the bank's performance relative to its goal prior to the plan's expiration to ensure continued alignment with evolving community needs.
About Mechanics Bank
Mechanics Bank, a wholly owned subsidiary of Mechanics Bancorp (NASDAQ: MCHB), is a full-service bank headquartered in Walnut Creek, Calif, with more than $22 billion in assets and 166 branches across California, Oregon, Washington and Hawaii. Founded in 1905 to help families, businesses and communities prosper, Mechanics Bank offers a wide range of products and services in consumer and business banking, commercial lending, cash management services, private banking, and comprehensive wealth management and trust services. Visit www.MechanicsBank.com.
Mechanics Bank is a Member FDIC and an Equal Housing Lender.