Mechanics Bank Fact Sheet


Mechanics Bank was founded in 1905 and operates thirty-one offices across Alameda, Contra Costa, El Dorado, Marin, Napa, Placer, Sacramento and San Francisco counties. It is the largest bank headquartered in California’s East Bay region, serving tens of thousands of individual customers and thousands of small and middle-market businesses with a variety of personal banking, business banking, trust and estate services, brokerage and wealth management services.


Although chartered under The Mechanics Bank name in 1907, the Bank’s roots go back to The Iverson Bank and Trust Company, founded in Richmond in 1905. Shortly after it was renamed, Edward M. Downer joined the organization, and by 1919 he had purchased a controlling interest and soon became president.

Four generations later, the Bank is still locally owned, and Downer’s great-grandson, Edward Michael Downer serves as Chairman of the Board. Downer’s great-granddaughter, Dianne Daiss Felton, serves as Vice Chairman of the Board.

Mechanics Bank grew up with the City of Richmond, and innovation has played a key role in the bank’s growth. These include:

  • Opened one of the first drive-through banking facilities in Northern California
  • Pioneered consumer banking products such as auto and personal loans
  • Became one of the first banks in California to pay daily interest on savings accounts
  • Introduced ATMs to Northern California

Mechanics Bank continued to grow and innovate during the 1960s and 1970s as it converted its bookkeeping system to electronic data processing and established a full-service Trust department. During the 1990s it established a commercial lending group, and began to establish offices outside of Western Contra Costa County. By 1996, the bank had reached the $1 billion asset milestone, but it took just six more years to reach the $2 billion mark. In the past decade, the bank has expanded its footprint to include San Francisco, Marin, the Sacramento area, Napa and Alameda County.


Mechanics Bank has been majority-owned by descendants of Edward M. Downer for four generations.

Role as a Community Bank

Giving back to the community is an integral part of Mechanics Bank’s culture, and the Bank is consistently recognized as one of the Top 50 local corporate philanthropists. Its corporate giving program focuses on the following communities it serves:

  • Community development
  • Education
  • Civic and community programs
  • Health, housing and human services
  • Arts, history and culture

As part of its efforts to build the prosperous communities that are integral to its success, Mechanics Bank employees volunteer with hundreds of local organizations. Fully two-thirds of Bank employees are involved in at least one community organization or nonprofit activity and hundreds of local nonprofit organizations bank with Mechanics Bank themselves. Mechanics Bank was also the first bank in California to obtain Green Certification for several of its offices, and continues to work toward certification of the entire office network.

Mechanics Bank Metrics as of 12/31/2013

  • Total deposits: $2.927 billion
  • Total assets: $3.371 billion
  • Net income: $21.560 million
  • Total number of employees: 615
For the most recent earnings and other financial data about Mechanics Bank visit Our Financials.

Key Executive Management

President and Chief Executive Officer: Christa Steele
Executive Vice President and Director of Retail Banking: Rauly Butler
Executive Vice President and Chief Credit Officer: Larry Cretan
Executive Vice President and Director of Human Resources: Judy Ditchey
Executive Vice President and Director of Commercial Banking: Larry Fountain
Executive Vice President and Director of Wealth Management: Deberah B. Kelley
Executive Vice President and Chief Information Officer: Brian Zeitler

Board of Directors

E. Michael Downer, Chairman of the Board
Dianne Daiss Felton, Vice Chairman of the Board
Christa Steele, President and Chief Executive Officer
Daniel W. Albert
Patricia Cochran
Adrienne Crowe
Daniel M. Daiss
Douglas Downer
Meheriar Hasan
Martin B. McNair
J. David Powell
James P. Staes
Mark F. Wilson



3170 Hilltop Mall Road
Richmond, CA 94806


1111 Civic Drive
Walnut Creek, CA 94596

Media Contact

David Louis

Updated April 2, 2015