Mechanics Bank

Headquarters

1111 Civic Dr
Walnut Creek, CA 94596
See all branch locations →

Notable Rates	APY	Vs.Others
Savings	N.A.	5.50% →
1-Year CD	N.A.	4.80% →
2-Year CD	N.A.	4.25% →
5-Year CD	N.A.	4.05% →
30-Year Mortgage	N.A.	4.91% →
15-Year Mortgage	N.A.	4.39% →
HELOC	N.A.	0.99% →

Overview
Deposit Rates
Loan Rates
Branches
Climate
Financial Details
FAQs
Reviews

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 $17.33 billion in assets. Customers can open an account at one of its 36 branches.


FDIC Insured	Yes
FDIC Certificate	# 1768
Date Established	1905
Assets	$ 17.33 billion
Loans	$ 10.11 billion
Deposits	$ 14.10 billion
Capital	$ 2.24 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 - December 3, 2024

Your Current Location: Ohio, OH 43085

Loan Rates - December 3, 2024

Your Current Location: Ohio, OH 43085

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 - Ohio 30 Year Fixed Mortgage Rates 2024

Lender	APR	Rate (%)	Monthly Payment	Learn More
NMLS ID: 1835285	6.128%	6.000% 0.88 points $4,400 fees	$1,919	Learn More
NMLS ID: 2578474	6.242%	6.125% 0.88 points $4,010 fees	$1,945	Learn More
NMLS ID: 66247	6.319%	6.250% 0.75 points $2,330 fees	$1,971	Learn More
NMLS ID: 1025894	6.579%	6.490% 0.75 points $2,972 fees	$2,021	Learn More

See More Mortgage Rates →

Featured - Ohio Home Equity Line Of Credit Rates 2024

Lender	APR (%)^?	Monthly Payment^?	Learn More
Third Federal Savings and Loan See Table	Intro APR 7.240 % After Intro: 7.240 %	$0	Learn More More Info
Conditions… Variable APR of Prime minus 1.01% in all states. Min loan amount $10,000. Max loan amount $200,000. 30-year term. Annual fee waived for the first year. See conditions for guarantee at thirdfederal.com. Third Federal rate are typically 20% lower than other leaders Guaranteed Lowest Rate No closing costs, prepayment penalties, or minimum draw requirements 10 year draw period
Rate See Table	Intro APR 8.250 % After Intro: 8.250 %	$25,000	Learn More More Info
A Guaranteed Rate HELOC is secured with your home as collateral, whereas personal loans and credit cards are not. To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. However, if you continue and submit an application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit. Approval may be granted in five minutes but is ultimately subject to verification of income and employment, as well as verification that your property is in at least average condition with a property condition report. Five business day funding timeline assumes closing the loan with our remote online notary. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing. Guaranteed Rate Home Equity Line is an open-end product where the full loan amount (minus lender, broker, third party, and governement fees, as applicable) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw. Apply in 5 minutes, get your money in as fast as 5 days. Digital application experience. Funds directly to your bank account. No in-person appraisal needed.
Achieve Loans See Table	Intro APR 10.625 % After Intro: 10.625 %	$0	Learn More More Info
All terms are estimates until underwriting is complete. Offer shown includes a .50% discount for automatic payment enrollment (autopay enrollment is not a condition of loan approval). 10, 15, 20, and 30-year terms available (20 and 30 year terms only available for cash out requests). All terms have a 5-year draw period with the remaining term being a no draw period. Payments are fully amortized during each period and determined on the outstanding principal balance each month. Closing fees range from $750 to $6,685, depending on line amount and state law requirements and typically include origination (2.5% of line amount) and underwriting ($725) fees if allowed by law. Property must be owner-occupied and combined loan-to-value ratio may not exceed 80%, including the new loan request. Property insurance is required and flood insurance may be required if the subject property is located in a flood zone. You must pledge your home as collateral. Offers are only valid in states where Achieve is licensed. Loans are not available to residents of all states and available loan terms and fees may vary by state where offered. Contact Achieve Loans for further details. Competitive rates, Pre-qualify in minutes Mortgage Advisors standing by to help find the best solution Flexible terms with fast funding Minimum credit score: 640

See More Home Equity Rates →

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:
Columbus,Ohio

Mechanics Bank Locations around zip code 43085

Branch	Distance	Map	View Lobby Hours
San Diego Branch	1878.31	A	View Lobby Hours
Irvine Branch	1897.60	B	View Lobby Hours
Newport Beach Branch	1899.88	C	View Lobby Hours
Beverly Hills Branch	1919.75	D	View Lobby Hours
Westlake Village Branch	1940.81	E	View Lobby Hours
El Dorado Hills Branch	2019.64	F	View Lobby Hours
North Roseville Retail Branch Office	2030.49	G	View Lobby Hours
Pittsburg Branch	2065.24	H	View Lobby Hours
Danville Branch	2072.27	I	View Lobby Hours
Concord Branch	2074.56	J	View Lobby Hours
Walnut Creek Office	2075.17	K	View Lobby Hours
Lunardi's Office	2076.49	L	View Lobby Hours
Lafayette Branch	2078.69	M	View Lobby Hours
Moraga Branch	2079.15	N	View Lobby Hours
Orinda Branch	2081.61	O	View Lobby Hours
Napa Branch	2084.89	P	View Lobby Hours
Rodeo Branch	2085.43	Q	View Lobby Hours
Berkeley Office	2086.27	R	View Lobby Hours
North Napa Branch	2086.34	S	View Lobby Hours
Oakland Branch	2086.41	T	View Lobby Hours
Pinole Branch	2086.63	U	View Lobby Hours
Kensington Branch	2086.65	V	View Lobby Hours
North Berkeley Branch	2086.80	W	View Lobby Hours
Albany Branch	2087.83	X	View Lobby Hours
El Cerrito Branch	2087.95	Y	View Lobby Hours
West Berkeley Office	2087.97	Z	View Lobby Hours

View Branches Nationwide →

Climate Policy and Initiatives

Mechanics Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Add Your Review

or use your BestCashCow account

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
1.46%	4.48%

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 June 30, 2024, Mechanics Bank had $16,542,000 in non-current loans and $17,882,000 in owned real estate. To cover these potential losses it had $2,244,042,000 in equity and $108,021,000 in loans loss reserves. That gives it a Texas Ratio of 1.46%.

Return on Equity

Mechanics Bank	U.S. Bank Average
-5.62%	10.46%

Mechanics Bank has a Return on Equity of -5.62% 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.

Capitalization

Mechanics Bank	U.S. Bank Average
12.95%	10.84%

Mechanics Bank has a Capitalization of 12.95% versus the BestCashCow average of 10.84. 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 June 30, 2024, Mechanics Bank had assets of $17,326,598,000, loans of $10,109,391,000, and deposits of $14,104,511,000. 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

June 30, 2024

ASSETS
Cash & Balances due from depository institutions	$ 1,842.89 million
Interest-bearing balances	$ 1,650.00 million
Total securities	$ 3.91 billion
Federal funds sold and reverse repurchase	N.A.
Net loans and leases	$ 10.11 billion
Loan loss allowance	$ 108.02 million
Trading account assets	$ 19.51 million
Bank premises and fixed assets	N.A.
Other real estate owned	$ 17.88 million
Goodwill and other intangibles	$ 888.10 million
All other assets	$ 394.09 million
Total Assets	$ 15.08 billion

LIABILITIES
Total deposits	$ 14.10 billion
Interest-bearing deposits	$ 8.54 billion
Deposits held in domestic offices	$ 14.10 billion
% insured (estimated)	56.20%
Federal funds purchased and repurchase agreements	N.A.
Trading liabilities	$ 17.20 million
Other borrowed funds	N.A.
Subordinated debt	$ 24.99 million
All other liabilities	$ 199.13 million
Total Liabilities	$ 15.08 billion
Shareholders’ Equity	$ 2.24 billion

Summary Income Statement

June 30, 2024

INCOME AND EXPENSES
Total Interest Income	$ 366.75 million
Total Interest Expense	$ 106.95 million
Net interest income	$ 259.80 million
Provision for loan and lease losses	N.A.
Total non interest income	$ 32.62 million
Total non interest expense	$ 176.38 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.

	% Loans	% Comparison to Other Banks
		Low	Med	High
1-4 Family Residential Loans	22.23		✓
Multifamily Mortgages	20.13		✓
Credit Card Loans	0.00	✓
Consumer Auto Loans	38.56			✓
Small Business Loans	1.37		✓
Construction and Development Loans	0.78		✓
Commercial Real Estate	24.12		✓
Commercial and Industrial Loans	4.95		✓
Farm Loans	0.03		✓

Customer Reviews for Mechanics Bank

kristinalouise

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.

Is this review helpful? Yes:0 / No: 0