Mechanics Bank

1111 Civic Drive
Walnut Creek, CA 94596

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 1768
Date Established 1905
Assets $6.03 billion
Loans $4.52 billion
Deposits $4.69 billion
Capital $0.85 billion

Mechanics Bank is an FDIC insured institution located in Walnut Creek, CA. It was founded in 1905 and has approximately $6.03 billion in assets. Customers can open an account at one of its 36 branches.

For a more detailed analysis of Mechanics Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Bank Loan Profile?

The top three loan types in Mechanics Bank’s loan portfolio are Consumer Auto Loans, Commercial Real Estate, and Multifamily Mortgages.

Compared to other banks in California, Mechanics Bank has a significantly higher percent of Consumer Auto Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 14.34
Multifamily
Mortgages
18.73
Credit Card Loans 0.00
Consumer Auto Loans 28.03
Small Business Loans 2.88
Construction and Development Loans 3.04
Commercial Real Estate 22.37
Commercial and Industrial Loans 9.25
Farm Loans 0.03

Deposit Rates - April 21, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.05% $1 $9,999 Learn MoreShow Less
Money Market
0.05% $10,000 $24,999 Learn MoreShow Less
Money Market
0.05% $25,000 $49,999 Learn MoreShow Less
Premium Money Market Account
0.08% $1 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.05% $10,000 $49,999 Learn MoreShow Less
3 Mo CD
0.05% $100,000 - Learn MoreShow Less
6 Mo CD
0.05% $10,000 $49,999 Learn MoreShow Less
6 Mo CD
0.05% $100,000 - Learn MoreShow Less
12 Mo CD
0.15% $10,000 $49,999 Learn MoreShow Less
12 Mo CD
0.15% $100,000 - Learn MoreShow Less
Special: 13 Mo CD
1.50% $1,000 - Learn MoreShow Less
18 Mo CD
0.50% $10,000 $49,999 Learn MoreShow Less
18 Mo CD
0.50% $100,000 - Learn MoreShow Less
24 Mo CD
0.25% $10,000 $49,999 Learn MoreShow Less
Special: 24 Mo CD
2.25% $50,000 $99,999 Learn MoreShow Less
24 Mo CD
0.25% $100,000 - Learn MoreShow Less
30 Mo CD
0.25% $10,000 $49,999 Learn MoreShow Less
30 Mo CD
0.25% $100,000 - Learn MoreShow Less
0.50% $10,000 $49,999 Learn MoreShow Less
36 Mo CD
0.50% $100,000 - Learn MoreShow Less
0.50% $10,000 $49,999 Learn MoreShow Less
48 Mo CD
0.50% $100,000 - Learn MoreShow Less
60 Mo CD
0.75% $10,000 $49,999 Learn MoreShow Less
60 Mo CD
0.75% $100,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.15% $1,000 $9,999 Learn MoreShow Less
Special: 24 Mo FIRA
2.25% $100,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.01% $1 - Learn MoreShow Less

Loan Rates - April 21, 2019

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Mechanics Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2019

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
5.375% 5.375% 0.00 $0 $1,400 Learn More
J.G. Wentworth Home Lending, LLC
NMLS ID: 2925
License#: MC-1875
4.030% 4.000% 0.38 $892 $1,194 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
PenFed Credit Union
PenFed Credit Union
5.500 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
4.490 %
$0 Learn More
More Info

Note to Mechanics Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Mechanics Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Mechanics Bank Locations


Financial Details

Mechanics Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Mechanics Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Mechanics Bank U.S. Bank Average
1.04% 6.97%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2018, Mechanics Bank had $6,467,000 in non-current loans and $2,685,000 in owned real estate. To cover these potential losses it had $852,883,000 in equity and $26,440,000 in loans loss reserves. That gives it a Texas Ratio of 1.04%.

Return on Equity
Mechanics Bank U.S. Bank Average
6.31% 8.80%

Mechanics Bank has a Return on Equity of 6.31% versus the BestCashCow average of 8.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Mechanics Bank U.S. Bank Average
14.14% 12.29%

Mechanics Bank has a Capitalization of 14.14% versus the BestCashCow average of 12.29. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Mechanics Bank Balance Sheet Analysis

As of December 31, 2018, Mechanics Bank had assets of $6,032,147,000, loans of $4,522,590,000, and deposits of $4,694,831,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2018
ASSETS
Cash & Balances due from depository institutions $0.18 billion
Interest-bearing balances $0.12 billion
Total securities $0.76 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $4.52 billion
Loan loss allowance $0.03 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.38 billion
All other assets $0.13 billion
     Total Assets $5.18 billion
LIABILITIES
Total deposits $4.69 billion
      Interest-bearing deposits $2.62 billion
      Deposits held in domestic offices $4.69 billion
      % insured (estimated) 53.73%
Federal funds purchased and repurchase agreements $0.02 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.37 billion
Subordinated debt $0.02 billion
All other liabilities $0.07 billion
      Total Liabilities $5.18 billion
      Shareholders’ Equity $0.85 billion

Summary Income Statement

December 31, 2018
INCOME AND EXPENSES
Total Interest Income $0.26 billion
Total Interest Expense $0.02 billion
Net interest income $0.24 billion
Provision for loan and lease losses $0.02 billion
Total non interest income $0.04 billion
Total non interest expense $0.18 billion
Pre-tax Net Operating Income $0.07 billion

Frequently Asked Questions About Mechanics Bank

Branches and Savings

Is Mechanics Bank FDIC insured?

Yes. It is covered under FDIC Certificate #1768.

Why does Mechanics Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Mechanics Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Mechanics Bank a commercial bank?

Yes

Where are Mechanics Bank locations?

See branch locations nearby.

Is Mechanics Bank open on Saturdays?

Is Mechanics Bank open on Sundays?

What time does Mechanics Bank open?

What time does Mechanics Bank close?

Are Mechanics Bank ATMs Open 24/7?

Do Mechanics Bank ATMs accept cash deposits?

Can Mechanics Bank customers use other ATMs?

Do Mechanics Bank branches have notaries?

Will Mechanics Bank notarize my document?

What address for Mechanics Bank should I put for incoming ACH transfers?

Will the Mechanics Bank branch print checks?

Do Mechanics Bank checks expire?

Does Mechanics Bank require US citizenship to open account?

Can Mechanics Bank close my account?

Does Mechanics Bank Report to credit bureaus?

Does Mechanics Bank Use Equifax?

What is Mechanics Bank's ACH Routing Number?

What is Mechanics Bank's SWIFT code?

Products

Does Mechanics Bank offer mortgages?

Compare mortgage rates here.

Does Mechanics Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Mechanics Bank offer personal loans?

Compare personal loan rates here.

Does Mechanics Bank offer student loans?

Will Mechanics Bank cash a check?

Will Mechanics Bank redeem a savings bond?

Does Mechanics Bank cash savings bonds?

Will Mechanics Bank cash money orders?

Can Mechanics Bank issue a money order?

Does Mechanics Bank do currency exchange?

Background on The Bank

Who owns Mechanics Bank?

How long has Mechanics Bank been around?

Can Mechanics Bank transfer to other banks?

Does Mechanics Bank have quick pay?

Does Mechanics Bank accept rolled coins?

Will Mechanics Bank accept loose change?

Where is Mechanics Bank headquarters?

Customer Reviews for Mechanics Bank


  • kristinalouise

    December 06, 2018 |

    I have to say, as a local business owner, I purposefully chose to work with a 'local business bank'. I moved my checking over when I incorporated and assumed that I would go to them when my needs increased. Well, sure enough, my needs increased (trying to open an office space in Downtown). I went to Mechanic's (of course!) and got directed to someone in finance where they informed me "not to bother submitting an application because they categorically do not work with real estate professionals". Oh, well excuse me. I am an entrepreneur who owns three businesses, I just happen to also be a (very productive) Realtor in town. They have access to all my financials (including a paid off credit card). Needless to say, I will not be doing business with a company that discriminates against me based on my PROFESSION (are you kidding me?). Shame on this bank for not evaluating BUSINESS OWNERS on financials, history, merit and deposit. What a damn shame. Maybe you should make sure they don't discriminate against whatever it is that you happen to do (they have a list, which she rattled off to me verbally) before you decide to bank with this institution.

Add Your Review

Rate it here →