Mechanics Bank


1111 Civic Dr
Walnut Creek, CA 94596
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Notable Rates APY Vs.Others
Savings N.A. 5.50% →
1-Year CD N.A. 5.38% →
2-Year CD N.A. 4.95% →
5-Year CD N.A. 4.55% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

Mechanics Bank is an FDIC insured institution located in Walnut Creek, CA. It was founded in 1905 and has approximately $17.34 billion in assets. Customers can open an account at one of its 36 branches.

FDIC Insured Yes
FDIC Certificate # 1768
Date Established 1905
Assets $ 17.34 billion
Loans $ 10.33 billion
Deposits $ 14.17 billion
Capital $ 2.20 billion

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.

Deposit Rates - July 23, 2024

Your Current Location: Virginia, VA 20146

Loan Rates - July 23, 2024

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 2024

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6.644% 6.500%
0.50 points
$4,803 fees
$2,023 Learn More
Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.706% 6.625%
0.63 points
$2,684 fees
$2,049 Learn More
New American Funding, LLC.
NMLS ID: 6606
6.844% 6.750%
1.00 points
$3,098 fees
$2,076 Learn More
Rocket Mortgage
NMLS ID: 3030
7.064% 6.990%
0.75 points
$2,400 fees
$2,127 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
7.990 %
$0 Learn More
More Info

Note to Mechanics Bank
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Climate Policy and Initiatives

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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 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
2.39% 4.29%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its 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 March 31, 2024, Mechanics Bank had $36,239,000 in non-current loans and $19,293,000 in owned real estate. To cover these potential losses it had $2,199,069,000 in equity and $120,828,000 in loans loss reserves. That gives it a Texas Ratio of 2.39%.

Return on Equity
Mechanics Bank U.S. Bank Average
-20.44% 10.46%

Mechanics Bank has a Return on Equity of -20.44% versus the BestCashCow average of 10.46%. 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.

Mechanics Bank U.S. Bank Average
12.68% 10.73%

Mechanics Bank has a Capitalization of 12.68% versus the BestCashCow average of 10.73. 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 March 31, 2024, Mechanics Bank had assets of $17,339,524,000, loans of $10,334,733,000, and deposits of $14,166,703,000. 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

March 31, 2024
Cash & Balances due from depository institutions $ 1,675.90 million
Interest-bearing balances $ 1,518.59 million
Total securities $ 3.84 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 10.33 billion
Loan loss allowance $ 120.83 million
Trading account assets $ 20.94 million
Bank premises and fixed assets N.A.
Other real estate owned $ 19.29 million
Goodwill and other intangibles $ 891.75 million
All other assets $ 394.09 million
     Total Assets $ 15.14 billion
Total deposits $ 14.17 billion
      Interest-bearing deposits $ 8.25 billion
      Deposits held in domestic offices $ 14.17 billion
      % insured (estimated) 57.38%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities $ 18.38 million
Other borrowed funds N.A.
Subordinated debt $ 24.98 million
All other liabilities $ 199.13 million
      Total Liabilities $ 15.14 billion
      Shareholders’ Equity $ 2.20 billion

Summary Income Statement

March 31, 2024
Total Interest Income $ 172.94 million
Total Interest Expense $ 51.16 million
Net interest income $ 121.78 million
Provision for loan and lease losses N.A.
Total non interest income $ 16.17 million
Total non interest expense $ 88.87 million
Pre-tax Net Operating Income $ 156.62 million

Bank Loan Profile?

The top three loan types in Mechanics Bank’s loan portfolio are Consumer Auto Loans, Commercial Real Estate, and 1-4 Family Residential Loans.

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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 21.75
Credit Card Loans 0.00
Consumer Auto Loans 37.72
Small Business Loans 1.40
Construction and Development Loans 0.76
Commercial Real Estate 23.59
Commercial and Industrial Loans 4.84
Farm Loans 0.03

Customer Reviews for Mechanics Bank

  • December 6, 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.

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