<p>紐約 --（商業資訊）--KBRA 對位於加利福尼亞州沃爾納特溪的 Mechanics Bancorp（NASDAQ: MCHB）（&#34;Mechanics&#34;或&#34;公司&#34;）賦予了 BBB+ 的高級無擔保債務評級、BBB 的次級債務評級和 K2 的短期債務評級。此外，KBRA 對其主要子公司 Mechanics Bank（&#34;銀行&#34;）賦予了 A-的存款和高級無擔保債務評級、BBB+ 的次級債務評級以及 K2 的短期存款和債務評級。所有長期評級的展望為穩定。</p>
<p>此外，KBRA 將 HomeStreet, Inc.（&#34;HomeStreet&#34;或&#34;HMST&#34;）的高級無擔保債務評級從 BBB-上調至 BBB+，將次級債務評級從 BB+ 上調至 BBB，將短期債務評級從 K3 上調至 K2。此外，KBRA 將其子公司 HomeStreet Bank 的存款和高級無擔保債務評級從 BBB 上調至 A-，將次級債務評級從 BBB-上調至 BBB+，將短期存款和債務評級從 K3 上調至 K2。隨後，KBRA 在 2025 年 9 月 2 日與 Mechanics 合併完成後撤回了對 HomeStreet, Inc.和 HomeStreet Bank 的所有評級。</p>
<p>這些評級得益於 Mechanics 強大的股東結構和經驗豐富的管理團隊，由 Ford Financial Fund（&#34;基金&#34;）領導，該基金於 2015 年收購了該銀行，並仍然是主要股東（在與 HomeStreet 合併後約佔 74%）。該基金在社區銀行領域有着成功的記錄，在其領導下，Mechanics 實現了顯著的規模（資產約 230 億美元）和在吸引人的西海岸市場中穩固的存款市場份額，持續關注保持高質量的存款業務。其資金基礎與同類評級的同行相比具有優勢，表現為高比例的非利息存款（佔總存款的 35%）、良好的顆粒度以及對批發融資的最低依賴（僅剩的監管非核心來源為大額存單和次級債務等資本工具）。2025 年第三季度的資金總成本為 1.45%，在 KBRA 評級的範圍內屬於最低水平，反映了 HomeStreet 較高成本的 FHLB 貸款和大額存單的減少，預計在接下來的兩到三個季度內將繼續減少。這種有利的資金結構支撐了健康的淨利差，並進而實現了穩健的盈利能力，儘管其資產負債表結構較為保守，表現為低收益但低風險的貸款部分和嚴格的流動性管理（貸款與存款比率為 75%）。預計收益將進一步改善，2025 年第三季度的核心資產回報率（ROA）水平約為 1.2%，預計到 2026 年將上升至約 1.4%，反映出預期的成本協同效應以及從 HomeStreet 繼承的高成本融資的持續減少，結合貸款重新定價機會將促進進一步的淨利差擴張。儘管收入在很大程度上依賴於利差（手續費收入在 2025 年第三季度佔總收入的約 12%），管理層仍繼續瞄準非利息收入的增長，特別是在財富管理和相關諮詢業務方面。</p>
<p>在資產質量方面，除了遺留的間接汽車損失外——該投資組合目前正在減少（截至 2025 年第三季度佔總貸款的約 7%）——Mechanics 的貸款組合表現出強勁的信用表現，得益於顆粒度良好、保守承保的商業房地產投資組合。預計信用指標將保持良好，得益於我們可以認為是對遺留的 HMST 進行審慎承保以及對收購貸款的嚴格信用標記（佔 HMST 總貸款的 1.4%）。儘管如此，集中風險仍然是一個持續的考慮因素，投資者商業房地產的集中度高於平均水平（在 HMST 關閉後佔總風險資本的約 370%）。然而，管理層預計到 2028 年這一比例將降至 300% 以下，隨着資產負債表的演變。同樣，投資組合的地理和產品集中度——特別是在多户住宅和住宅貸款（幾乎佔總貸款的 65%，主要在加利福尼亞州）——對區域市場趨勢存在暴露。然而，加利福尼亞州持續的住房供應限制繼續支持抵押品價值和租金表現，自基金收購以來，公司在這些領域幾乎沒有承認損失。如果出現意外的信用惡化，損失吸收能力強大，得益於健康的收益、充足的準備金和良好的資本狀況。2025 年第三季度的 CET1 比率在形式上保持穩健，為 13.4%，預計到 2026 年底將上升至 14%，即使在高額股息支付（目標為 80%-90% 的支付比率）情況下，考慮到未來資產負債表可能穩定或略微縮小。總體而言，Mechanics 保守的資產負債表定位，包括健康的資本和流動性水平，是其評級的核心優勢，進一步強化了其低於平均水平的風險特徵。</p>
<p>要訪問評級和相關文件，請點擊這裏。</p>
<p>點擊這裏查看報告。</p>
<p><strong>方法論</strong></p>
<ul>
<li>金融機構：銀行及銀行控股公司全球評級方法論</li>
<li>ESG 全球評級方法論</li>
</ul>
<p><strong>披露</strong></p>
<p>有關關鍵信用考慮因素的更多信息、考慮可能影響這些信用評級的敏感性分析以及 ESG 因素（在信用評級或評級展望變化的關鍵驅動因素）可以在上述完整評級報告中找到。</p>
<p>有關準備信用評級所使用的所有實質性重要來源的描述以及用於確定信用評級的方法（包括任何重要模型和相關關鍵評級假設的敏感性分析）可在此處的信息披露表中找到。</p>
<p>有關每個評級類別含義的信息可以在此處找到。</p>
<p>有關此評級行動的進一步披露，請參閲上述信息披露表格。有關 KBRA 政策、方法論、評級標準和披露的更多信息，請訪問 www.kbra.com。</p>
<p><strong>關於 KBRA</strong></p>
<p>Kroll Bond Rating Agency, LLC (KBRA) 是主要的信用評級機構之一，作為全方位服務的信用評級機構註冊於美國證券交易委員會，屬於 NRSRO。Kroll Bond Rating Agency Europe Limited 在歐洲證券和市場管理局註冊為信用評級機構。Kroll Bond Rating Agency UK Limited 在英國金融行為監管局註冊為信用評級機構。此外，KBRA 被安大略省證券委員會指定為資產支持證券發行人提交短期招股説明書或貨架招股説明書的指定評級機構 (DRO)。KBRA 還被台灣金融監督管理委員會認定為合格評級機構，並被美國國家保險專員協會認可為信用評級提供者 (CRP)。</p>
<p>文檔編號：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>分析聯繫</p>
<p>John Rempe，高級董事（首席分析師）</p>
<p>+1 301-969-3045</p>
<p>john.rempe@kbra.com</p>
<p>Brian Ropp，董事總經理</p>
<p>+1 301-969-3244</p>
<p>brian.ropp@kbra.com</p>
<p>Ian Jaffe，高級董事總經理（評級委員會主席）</p>
<p>+1 646-731-3302</p>
<p>ian.jaffe@kbra.com</p>
<p>業務發展聯繫人</p>
<p>Justin Fuller，董事總經理</p>
<p>+1 312-680-4163</p>
<p>justin.fuller@kbra.com</p>
<p>來源：Kroll Bond Rating Agency, LLC</p>

MCHB

<p>KBRA 已對 Mechanics Bancorp 賦予了多項評級，包括 BBB+ 的高級無擔保債務評級和 BBB 的次級債務評級。此外，KBRA 在 HomeStreet, Inc.與 Mechanics 合併後，升級並隨後撤回了對其的評級。這次合併增強了 Mechanics 的財務狀況，重點在於維持高質量的存款業務並改善盈利能力。儘管其貸款組合中存在一些集中風險，公司預計將受益於成本協同效應和貸款重新定價機會</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>紐約 --（商業資訊）--KBRA 對位於加利福尼亞州沃爾納特溪的 Mechanics Bancorp（NASDAQ: MCHB）（&#34;Mechanics&#34;或&#34;公司&#34;）賦予了 BBB+ 的高級無擔保債務評級、BBB 的次級債務評級和 K2 的短期債務評級。此外，KBRA 對其主要子公司 Mechanics Bank（&#34;銀行&#34;）賦予了 A-的存款和高級無擔保債務評級、BBB+ 的次級債務評級以及 K2 的短期存款和債務評級。所有長期評級的展望為穩定。</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 將 HomeStreet, Inc.（&#34;HomeStreet&#34;或&#34;HMST&#34;）的高級無擔保債務評級從 BBB-上調至 BBB+，將次級債務評級從 BB+ 上調至 BBB，將短期債務評級從 K3 上調至 K2。此外，KBRA 將其子公司 HomeStreet Bank 的存款和高級無擔保債務評級從 BBB 上調至 A-，將次級債務評級從 BBB-上調至 BBB+，將短期存款和債務評級從 K3 上調至 K2。隨後，KBRA 在 2025 年 9 月 2 日與 Mechanics 合併完成後撤回了對 HomeStreet, Inc.和 HomeStreet Bank 的所有評級。</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>這些評級得益於 Mechanics 強大的股東結構和經驗豐富的管理團隊，由 Ford Financial Fund（&#34;基金&#34;）領導，該基金於 2015 年收購了該銀行，並仍然是主要股東（在與 HomeStreet 合併後約佔 74%）。該基金在社區銀行領域有着成功的記錄，在其領導下，Mechanics 實現了顯著的規模（資產約 230 億美元）和在吸引人的西海岸市場中穩固的存款市場份額，持續關注保持高質量的存款業務。其資金基礎與同類評級的同行相比具有優勢，表現為高比例的非利息存款（佔總存款的 35%）、良好的顆粒度以及對批發融資的最低依賴（僅剩的監管非核心來源為大額存單和次級債務等資本工具）。2025 年第三季度的資金總成本為 1.45%，在 KBRA 評級的範圍內屬於最低水平，反映了 HomeStreet 較高成本的 FHLB 貸款和大額存單的減少，預計在接下來的兩到三個季度內將繼續減少。這種有利的資金結構支撐了健康的淨利差，並進而實現了穩健的盈利能力，儘管其資產負債表結構較為保守，表現為低收益但低風險的貸款部分和嚴格的流動性管理（貸款與存款比率為 75%）。預計收益將進一步改善，2025 年第三季度的核心資產回報率（ROA）水平約為 1.2%，預計到 2026 年將上升至約 1.4%，反映出預期的成本協同效應以及從 HomeStreet 繼承的高成本融資的持續減少，結合貸款重新定價機會將促進進一步的淨利差擴張。儘管收入在很大程度上依賴於利差（手續費收入在 2025 年第三季度佔總收入的約 12%），管理層仍繼續瞄準非利息收入的增長，特別是在財富管理和相關諮詢業務方面。</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>在資產質量方面，除了遺留的間接汽車損失外——該投資組合目前正在減少（截至 2025 年第三季度佔總貸款的約 7%）——Mechanics 的貸款組合表現出強勁的信用表現，得益於顆粒度良好、保守承保的商業房地產投資組合。預計信用指標將保持良好，得益於我們可以認為是對遺留的 HMST 進行審慎承保以及對收購貸款的嚴格信用標記（佔 HMST 總貸款的 1.4%）。儘管如此，集中風險仍然是一個持續的考慮因素，投資者商業房地產的集中度高於平均水平（在 HMST 關閉後佔總風險資本的約 370%）。然而，管理層預計到 2028 年這一比例將降至 300% 以下，隨着資產負債表的演變。同樣，投資組合的地理和產品集中度——特別是在多户住宅和住宅貸款（幾乎佔總貸款的 65%，主要在加利福尼亞州）——對區域市場趨勢存在暴露。然而，加利福尼亞州持續的住房供應限制繼續支持抵押品價值和租金表現，自基金收購以來，公司在這些領域幾乎沒有承認損失。如果出現意外的信用惡化，損失吸收能力強大，得益於健康的收益、充足的準備金和良好的資本狀況。2025 年第三季度的 CET1 比率在形式上保持穩健，為 13.4%，預計到 2026 年底將上升至 14%，即使在高額股息支付（目標為 80%-90% 的支付比率）情況下，考慮到未來資產負債表可能穩定或略微縮小。總體而言，Mechanics 保守的資產負債表定位，包括健康的資本和流動性水平，是其評級的核心優勢，進一步強化了其低於平均水平的風險特徵。</p>
</div><p>To access ratings and relevant documents, click here.</p>
<div class="lb-trans"><p>要訪問評級和相關文件，請點擊這裏。</p>
</div><p>Click here to view the report.</p>
<div class="lb-trans"><p>點擊這裏查看報告。</p>
</div><p><strong>Methodologies</strong></p>
<div class="lb-trans"><p><strong>方法論</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>金融機構：銀行及銀行控股公司全球評級方法論</li>
<li>ESG 全球評級方法論</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>有關關鍵信用考慮因素的更多信息、考慮可能影響這些信用評級的敏感性分析以及 ESG 因素（在信用評級或評級展望變化的關鍵驅動因素）可以在上述完整評級報告中找到。</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>有關準備信用評級所使用的所有實質性重要來源的描述以及用於確定信用評級的方法（包括任何重要模型和相關關鍵評級假設的敏感性分析）可在此處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>有關每個評級類別含義的信息可以在此處找到。</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>有關此評級行動的進一步披露，請參閲上述信息披露表格。有關 KBRA 政策、方法論、評級標準和披露的更多信息，請訪問 www.kbra.com。</p>
</div><p><strong>About KBRA</strong></p>
<div class="lb-trans"><p><strong>關於 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) 是主要的信用評級機構之一，作為全方位服務的信用評級機構註冊於美國證券交易委員會，屬於 NRSRO。Kroll Bond Rating Agency Europe Limited 在歐洲證券和市場管理局註冊為信用評級機構。Kroll Bond Rating Agency UK Limited 在英國金融行為監管局註冊為信用評級機構。此外，KBRA 被安大略省證券委員會指定為資產支持證券發行人提交短期招股説明書或貨架招股説明書的指定評級機構 (DRO)。KBRA 還被台灣金融監督管理委員會認定為合格評級機構，並被美國國家保險專員協會認可為信用評級提供者 (CRP)。</p>
</div><p>Doc ID: 1012703</p>
<div class="lb-trans"><p>文檔編號：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>分析聯繫</p>
</div><p>John Rempe, Senior Director (Lead Analyst)</p>
<div class="lb-trans"><p>John Rempe，高級董事（首席分析師）</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，董事總經理</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，高級董事總經理（評級委員會主席）</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>業務發展聯繫人</p>
</div><p>Justin Fuller, Managing Director</p>
<div class="lb-trans"><p>Justin Fuller，董事總經理</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>來源：Kroll Bond Rating Agency, LLC</p>
</div>

KBRA 對 Mechanics Bancorp 進行評級；升級並隨後撤銷了對 HomeStreet, Inc.的評級 | HMST 股票新聞