<p>纽约 --（商业资讯）--KBRA 对位于加利福尼亚州沃尔纳特溪的 Mechanics Bancorp（NASDAQ: MCHB）（&#34;Mechanics&#34;或&#34;公司&#34;）赋予了 BBB+ 的高级无担保债务评级、BBB 的次级债务评级和 K2 的短期债务评级。此外，KBRA 对其主要子公司 Mechanics Bank（&#34;银行&#34;）赋予了 A-的存款和高级无担保债务评级、BBB+ 的次级债务评级以及 K2 的短期存款和债务评级。所有长期评级的展望为稳定。</p>
<p>此外，KBRA 将 HomeStreet, Inc.（&#34;HomeStreet&#34;或&#34;HMST&#34;）的高级无担保债务评级从 BBB-上调至 BBB+，将次级债务评级从 BB+ 上调至 BBB，将短期债务评级从 K3 上调至 K2。此外，KBRA 将其子公司 HomeStreet Bank 的存款和高级无担保债务评级从 BBB 上调至 A-，将次级债务评级从 BBB-上调至 BBB+，将短期存款和债务评级从 K3 上调至 K2。随后，KBRA 在 2025 年 9 月 2 日与 Mechanics 合并完成后撤回了对 HomeStreet, Inc.和 HomeStreet Bank 的所有评级。</p>
<p>这些评级得益于 Mechanics 强大的股东结构和经验丰富的管理团队，由 Ford Financial Fund（&#34;基金&#34;）领导，该基金于 2015 年收购了该银行，并仍然是主要股东（在与 HomeStreet 合并后约占 74%）。该基金在社区银行领域有着成功的记录，在其领导下，Mechanics 实现了显著的规模（资产约 230 亿美元）和在吸引人的西海岸市场中稳固的存款市场份额，持续关注保持高质量的存款业务。其资金基础与同类评级的同行相比具有优势，表现为高比例的非利息存款（占总存款的 35%）、良好的颗粒度以及对批发融资的最低依赖（仅剩的监管非核心来源为大额存单和次级债务等资本工具）。2025 年第三季度的资金总成本为 1.45%，在 KBRA 评级的范围内属于最低水平，反映了 HomeStreet 较高成本的 FHLB 贷款和大额存单的减少，预计在接下来的两到三个季度内将继续减少。这种有利的资金结构支撑了健康的净利差，并进而实现了稳健的盈利能力，尽管其资产负债表结构较为保守，表现为低收益但低风险的贷款部分和严格的流动性管理（贷款与存款比率为 75%）。预计收益将进一步改善，2025 年第三季度的核心资产回报率（ROA）水平约为 1.2%，预计到 2026 年将上升至约 1.4%，反映出预期的成本协同效应以及从 HomeStreet 继承的高成本融资的持续减少，结合贷款重新定价机会将促进进一步的净利差扩张。尽管收入在很大程度上依赖于利差（手续费收入在 2025 年第三季度占总收入的约 12%），管理层仍继续瞄准非利息收入的增长，特别是在财富管理和相关咨询业务方面。</p>
<p>在资产质量方面，除了遗留的间接汽车损失外——该投资组合目前正在减少（截至 2025 年第三季度占总贷款的约 7%）——Mechanics 的贷款组合表现出强劲的信用表现，得益于颗粒度良好、保守承保的商业房地产投资组合。预计信用指标将保持良好，得益于我们可以认为是对遗留的 HMST 进行审慎承保以及对收购贷款的严格信用标记（占 HMST 总贷款的 1.4%）。尽管如此，集中风险仍然是一个持续的考虑因素，投资者商业房地产的集中度高于平均水平（在 HMST 关闭后占总风险资本的约 370%）。然而，管理层预计到 2028 年这一比例将降至 300% 以下，随着资产负债表的演变。同样，投资组合的地理和产品集中度——特别是在多户住宅和住宅贷款（几乎占总贷款的 65%，主要在加利福尼亚州）——对区域市场趋势存在暴露。然而，加利福尼亚州持续的住房供应限制继续支持抵押品价值和租金表现，自基金收购以来，公司在这些领域几乎没有承认损失。如果出现意外的信用恶化，损失吸收能力强大，得益于健康的收益、充足的准备金和良好的资本状况。2025 年第三季度的 CET1 比率在形式上保持稳健，为 13.4%，预计到 2026 年底将上升至 14%，即使在高额股息支付（目标为 80%-90% 的支付比率）情况下，考虑到未来资产负债表可能稳定或略微缩小。总体而言，Mechanics 保守的资产负债表定位，包括健康的资本和流动性水平，是其评级的核心优势，进一步强化了其低于平均水平的风险特征。</p>
<p>要访问评级和相关文件，请点击这里。</p>
<p>点击这里查看报告。</p>
<p><strong>方法论</strong></p>
<ul>
<li>金融机构：银行及银行控股公司全球评级方法论</li>
<li>ESG 全球评级方法论</li>
</ul>
<p><strong>披露</strong></p>
<p>有关关键信用考虑因素的更多信息、考虑可能影响这些信用评级的敏感性分析以及 ESG 因素（在信用评级或评级展望变化的关键驱动因素）可以在上述完整评级报告中找到。</p>
<p>有关准备信用评级所使用的所有实质性重要来源的描述以及用于确定信用评级的方法（包括任何重要模型和相关关键评级假设的敏感性分析）可在此处的信息披露表中找到。</p>
<p>有关每个评级类别含义的信息可以在此处找到。</p>
<p>有关此评级行动的进一步披露，请参阅上述信息披露表格。有关 KBRA 政策、方法论、评级标准和披露的更多信息，请访问 www.kbra.com。</p>
<p><strong>关于 KBRA</strong></p>
<p>Kroll Bond Rating Agency, LLC (KBRA) 是主要的信用评级机构之一，作为全方位服务的信用评级机构注册于美国证券交易委员会，属于 NRSRO。Kroll Bond Rating Agency Europe Limited 在欧洲证券和市场管理局注册为信用评级机构。Kroll Bond Rating Agency UK Limited 在英国金融行为监管局注册为信用评级机构。此外，KBRA 被安大略省证券委员会指定为资产支持证券发行人提交短期招股说明书或货架招股说明书的指定评级机构 (DRO)。KBRA 还被台湾金融监督管理委员会认定为合格评级机构，并被美国国家保险专员协会认可为信用评级提供者 (CRP)。</p>
<p>文档编号：1012703</p>
<p><img src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNTEyMTA3Njc1NjRyMQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNTEyMTA3Njc1NjRyMQ"/></p>
<p>在 businesswire.com 查看源版本：https://www.businesswire.com/news/home/20251210767564/en/</p>
<p>分析联系</p>
<p>John Rempe，高级董事（首席分析师）</p>
<p>+1 301-969-3045</p>
<p>john.rempe@kbra.com</p>
<p>Brian Ropp，董事总经理</p>
<p>+1 301-969-3244</p>
<p>brian.ropp@kbra.com</p>
<p>Ian Jaffe，高级董事总经理（评级委员会主席）</p>
<p>+1 646-731-3302</p>
<p>ian.jaffe@kbra.com</p>
<p>业务发展联系人</p>
<p>Justin Fuller，董事总经理</p>
<p>+1 312-680-4163</p>
<p>justin.fuller@kbra.com</p>
<p>来源：Kroll Bond Rating Agency, LLC</p>

MCHB

<p>KBRA 已对 Mechanics Bancorp 赋予了多项评级，包括 BBB+ 的高级无担保债务评级和 BBB 的次级债务评级。此外，KBRA 在 HomeStreet, Inc.与 Mechanics 合并后，升级并随后撤回了对其的评级。这次合并增强了 Mechanics 的财务状况，重点在于维持高质量的存款业务并改善盈利能力。尽管其贷款组合中存在一些集中风险，公司预计将受益于成本协同效应和贷款重新定价机会</p>

<p>NEW YORK--(BUSINESS WIRE)--KBRA assigns a senior unsecured debt rating of BBB+, a subordinated debt rating of BBB, and a short-term debt rating of K2 to Walnut Creek, California-based Mechanics Bancorp (NASDAQ: MCHB) (&#34;Mechanics&#34; or &#34;the company&#34;). In addition, KBRA assigns deposit and senior unsecured debt ratings of A-, a subordinated debt rating of BBB+, and short-term deposit and debt ratings of K2 to its main subsidiary, Mechanics Bank (&#34;the bank&#34;). The Outlook for all long-term ratings is Stable.</p>
<div class="lb-trans"><p>纽约 --（商业资讯）--KBRA 对位于加利福尼亚州沃尔纳特溪的 Mechanics Bancorp（NASDAQ: MCHB）（&#34;Mechanics&#34;或&#34;公司&#34;）赋予了 BBB+ 的高级无担保债务评级、BBB 的次级债务评级和 K2 的短期债务评级。此外，KBRA 对其主要子公司 Mechanics Bank（&#34;银行&#34;）赋予了 A-的存款和高级无担保债务评级、BBB+ 的次级债务评级以及 K2 的短期存款和债务评级。所有长期评级的展望为稳定。</p>
</div><p>Additionally, KBRA upgrades the senior unsecured debt rating to BBB+ from BBB-, the subordinated debt rating to BBB from BB+, and the short-term debt rating to K2 from K3 for HomeStreet, Inc. (&#34;HomeStreet&#34; or &#34;HMST&#34;). Furthermore, KBRA upgrades the deposit and senior unsecured debt ratings to A- from BBB, the subordinated debt rating to BBB+ from BBB-, and the short-term deposit and debt ratings to K2 from K3 for its subsidiary, HomeStreet Bank. Subsequently, KBRA withdraws all ratings for HomeStreet, Inc. and HomeStreet Bank following the completion of its merger with Mechanics on September 2, 2025.</p>
<div class="lb-trans"><p>此外，KBRA 将 HomeStreet, Inc.（&#34;HomeStreet&#34;或&#34;HMST&#34;）的高级无担保债务评级从 BBB-上调至 BBB+，将次级债务评级从 BB+ 上调至 BBB，将短期债务评级从 K3 上调至 K2。此外，KBRA 将其子公司 HomeStreet Bank 的存款和高级无担保债务评级从 BBB 上调至 A-，将次级债务评级从 BBB-上调至 BBB+，将短期存款和债务评级从 K3 上调至 K2。随后，KBRA 在 2025 年 9 月 2 日与 Mechanics 合并完成后撤回了对 HomeStreet, Inc.和 HomeStreet Bank 的所有评级。</p>
</div><p>The ratings are supported by Mechanics’ strong ownership and experienced management team, led by Ford Financial Fund (&#34;the fund&#34;), which acquired the bank in 2015 and remains the majority shareholder (~74% ownership following the HomeStreet merger). The fund has a proven record of success in the community banking sector, and under its leadership, Mechanics has achieved meaningful scale (~$23 billion in assets) and a solid deposit market share across attractive West Coast markets, with a continued focus on preserving a high-quality deposit franchise. The funding base compares favorably to similarly rated peers, characterized by a high share of noninterest-bearing deposits (35% of total), solid granularity, and minimal reliance on wholesale funding (only remaining regulatory non-core sources are jumbo CDs and capital instruments such as subordinated debt). The total cost of funds was 1.45% in 3Q25, among the lowest in the KBRA-rated universe, reflecting the runoff of HomeStreet’s higher-cost FHLB advances and CDs, with additional runoff expected over the next two to three quarters. This favorable funding mix underpins a healthy NIM and, in turn, solid profitability, despite a conservative balance sheet structure characterized by lower-yielding but low-risk loan segments and disciplined liquidity management (loan-to-deposit ratio of 75%). Earnings are expected to improve further from the respectable 3Q25 core ROA level (~1.2%), which is projected to rise to ~1.4% in 2026, reflective of anticipated cost synergies and the continued runoff of higher-cost funding inherited from HomeStreet, which along with loan repricing opportunities should facilitate further NIM expansion. While revenues remain largely spread-dependent (fee income contributing ~12% of total revenue in 3Q25), management continues to target growth in noninterest income, particularly in wealth management and related advisory businesses.</p>
<div class="lb-trans"><p>这些评级得益于 Mechanics 强大的股东结构和经验丰富的管理团队，由 Ford Financial Fund（&#34;基金&#34;）领导，该基金于 2015 年收购了该银行，并仍然是主要股东（在与 HomeStreet 合并后约占 74%）。该基金在社区银行领域有着成功的记录，在其领导下，Mechanics 实现了显著的规模（资产约 230 亿美元）和在吸引人的西海岸市场中稳固的存款市场份额，持续关注保持高质量的存款业务。其资金基础与同类评级的同行相比具有优势，表现为高比例的非利息存款（占总存款的 35%）、良好的颗粒度以及对批发融资的最低依赖（仅剩的监管非核心来源为大额存单和次级债务等资本工具）。2025 年第三季度的资金总成本为 1.45%，在 KBRA 评级的范围内属于最低水平，反映了 HomeStreet 较高成本的 FHLB 贷款和大额存单的减少，预计在接下来的两到三个季度内将继续减少。这种有利的资金结构支撑了健康的净利差，并进而实现了稳健的盈利能力，尽管其资产负债表结构较为保守，表现为低收益但低风险的贷款部分和严格的流动性管理（贷款与存款比率为 75%）。预计收益将进一步改善，2025 年第三季度的核心资产回报率（ROA）水平约为 1.2%，预计到 2026 年将上升至约 1.4%，反映出预期的成本协同效应以及从 HomeStreet 继承的高成本融资的持续减少，结合贷款重新定价机会将促进进一步的净利差扩张。尽管收入在很大程度上依赖于利差（手续费收入在 2025 年第三季度占总收入的约 12%），管理层仍继续瞄准非利息收入的增长，特别是在财富管理和相关咨询业务方面。</p>
</div><p>On the asset quality front, outside of legacy indirect auto losses — a portfolio now in runoff (~7% of total loans as of 3Q25) — Mechanics’ loan book demonstrates strong credit performance supported by a granular, conservatively underwritten CRE portfolio. Credit metrics are expected to remain sound, aided by what we could consider prudent underwriting at legacy HMST and a disciplined credit mark on acquired loans (1.4% of HMST total loans). That said, concentration risk remains an ongoing consideration, with an above average investor CRE concentration (~370% of total risk-based capital following the closing of HMST). However, management expects this ratio to drop below 300% by 2028 as the balance sheet evolves. Similarly, the portfolio’s geographic and product concentrations — notably in multifamily and residential lending (nearly 65% of total loans, largely in California) — present exposure to regional market trends. However, persistent housing supply constraints in California have continued to support collateral values and rent performance, and the company has recognized negligible losses in these segments since the fund's acquisition. In the event of unforeseen credit deterioration, loss-absorbing capacity is robust, backed by healthy earnings, solid reserves, and a favorable capital position. The CET1 ratio remained solid on a pro forma basis, which was 13.4% at 3Q25, and is projected to rise toward 14% by year-end 2026, even with elevated dividend payouts (targeting an 80%-90% payout ratio) due to a stable or modestly smaller balance sheet prospectively. Overall, Mechanics’ conservative balance sheet positioning, including healthy capital and liquidity levels, is a core rating strength that reinforces its below-average risk profile.</p>
<div class="lb-trans"><p>在资产质量方面，除了遗留的间接汽车损失外——该投资组合目前正在减少（截至 2025 年第三季度占总贷款的约 7%）——Mechanics 的贷款组合表现出强劲的信用表现，得益于颗粒度良好、保守承保的商业房地产投资组合。预计信用指标将保持良好，得益于我们可以认为是对遗留的 HMST 进行审慎承保以及对收购贷款的严格信用标记（占 HMST 总贷款的 1.4%）。尽管如此，集中风险仍然是一个持续的考虑因素，投资者商业房地产的集中度高于平均水平（在 HMST 关闭后占总风险资本的约 370%）。然而，管理层预计到 2028 年这一比例将降至 300% 以下，随着资产负债表的演变。同样，投资组合的地理和产品集中度——特别是在多户住宅和住宅贷款（几乎占总贷款的 65%，主要在加利福尼亚州）——对区域市场趋势存在暴露。然而，加利福尼亚州持续的住房供应限制继续支持抵押品价值和租金表现，自基金收购以来，公司在这些领域几乎没有承认损失。如果出现意外的信用恶化，损失吸收能力强大，得益于健康的收益、充足的准备金和良好的资本状况。2025 年第三季度的 CET1 比率在形式上保持稳健，为 13.4%，预计到 2026 年底将上升至 14%，即使在高额股息支付（目标为 80%-90% 的支付比率）情况下，考虑到未来资产负债表可能稳定或略微缩小。总体而言，Mechanics 保守的资产负债表定位，包括健康的资本和流动性水平，是其评级的核心优势，进一步强化了其低于平均水平的风险特征。</p>
</div><p>To access ratings and relevant documents, click here.</p>
<div class="lb-trans"><p>要访问评级和相关文件，请点击这里。</p>
</div><p>Click here to view the report.</p>
<div class="lb-trans"><p>点击这里查看报告。</p>
</div><p><strong>Methodologies</strong></p>
<div class="lb-trans"><p><strong>方法论</strong></p>
</div><ul>
<li>Financial Institutions: Bank &amp; Bank Holding Company Global Rating Methodology</li>
<li>ESG Global Rating Methodology</li>
</ul>
<div class="lb-trans"><ul>
<li>金融机构：银行及银行控股公司全球评级方法论</li>
<li>ESG 全球评级方法论</li>
</ul>
</div><p><strong>Disclosures</strong></p>
<div class="lb-trans"><p><strong>披露</strong></p>
</div><p>Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.</p>
<div class="lb-trans"><p>有关关键信用考虑因素的更多信息、考虑可能影响这些信用评级的敏感性分析以及 ESG 因素（在信用评级或评级展望变化的关键驱动因素）可以在上述完整评级报告中找到。</p>
</div><p>A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.</p>
<div class="lb-trans"><p>有关准备信用评级所使用的所有实质性重要来源的描述以及用于确定信用评级的方法（包括任何重要模型和相关关键评级假设的敏感性分析）可在此处的信息披露表中找到。</p>
</div><p>Information on the meaning of each rating category can be located here.</p>
<div class="lb-trans"><p>有关每个评级类别含义的信息可以在此处找到。</p>
</div><p>Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.</p>
<div class="lb-trans"><p>有关此评级行动的进一步披露，请参阅上述信息披露表格。有关 KBRA 政策、方法论、评级标准和披露的更多信息，请访问 www.kbra.com。</p>
</div><p><strong>About KBRA</strong></p>
<div class="lb-trans"><p><strong>关于 KBRA</strong></p>
</div><p>Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.</p>
<div class="lb-trans"><p>Kroll Bond Rating Agency, LLC (KBRA) 是主要的信用评级机构之一，作为全方位服务的信用评级机构注册于美国证券交易委员会，属于 NRSRO。Kroll Bond Rating Agency Europe Limited 在欧洲证券和市场管理局注册为信用评级机构。Kroll Bond Rating Agency UK Limited 在英国金融行为监管局注册为信用评级机构。此外，KBRA 被安大略省证券委员会指定为资产支持证券发行人提交短期招股说明书或货架招股说明书的指定评级机构 (DRO)。KBRA 还被台湾金融监督管理委员会认定为合格评级机构，并被美国国家保险专员协会认可为信用评级提供者 (CRP)。</p>
</div><p>Doc ID: 1012703</p>
<div class="lb-trans"><p>文档编号：1012703</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNTEyMTA3Njc1NjRyMQ" alt="" original-src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20251210767564r1&amp;sid=acqr8&amp;distro=nx&amp;lang=en"/></p>
<p>View source version on businesswire.com: https://www.businesswire.com/news/home/20251210767564/en/</p>
<div class="lb-trans"><p>在 businesswire.com 查看源版本：https://www.businesswire.com/news/home/20251210767564/en/</p>
</div><p>Analytical Contacts</p>
<div class="lb-trans"><p>分析联系</p>
</div><p>John Rempe, Senior Director (Lead Analyst)</p>
<div class="lb-trans"><p>John Rempe，高级董事（首席分析师）</p>
</div><p>+1 301-969-3045</p>
<div class="lb-trans"><p>+1 301-969-3045</p>
</div><p>john.rempe@kbra.com</p>
<div class="lb-trans"><p>john.rempe@kbra.com</p>
</div><p>Brian Ropp, Managing Director</p>
<div class="lb-trans"><p>Brian Ropp，董事总经理</p>
</div><p>+1 301-969-3244</p>
<div class="lb-trans"><p>+1 301-969-3244</p>
</div><p>brian.ropp@kbra.com</p>
<div class="lb-trans"><p>brian.ropp@kbra.com</p>
</div><p>Ian Jaffe, Senior Managing Director (Rating Committee Chair)</p>
<div class="lb-trans"><p>Ian Jaffe，高级董事总经理（评级委员会主席）</p>
</div><p>+1 646-731-3302</p>
<div class="lb-trans"><p>+1 646-731-3302</p>
</div><p>ian.jaffe@kbra.com</p>
<div class="lb-trans"><p>ian.jaffe@kbra.com</p>
</div><p>Business Development Contact</p>
<div class="lb-trans"><p>业务发展联系人</p>
</div><p>Justin Fuller, Managing Director</p>
<div class="lb-trans"><p>Justin Fuller，董事总经理</p>
</div><p>+1 312-680-4163</p>
<div class="lb-trans"><p>+1 312-680-4163</p>
</div><p>justin.fuller@kbra.com</p>
<div class="lb-trans"><p>justin.fuller@kbra.com</p>
</div><p>Source: Kroll Bond Rating Agency, LLC</p>
<div class="lb-trans"><p>来源：Kroll Bond Rating Agency, LLC</p>
</div>

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