Mechanics Bancorp Q2 FY26 net income rises 30.85% to $57.7 million; net interest income slips 1.05% to $177.2 million
MCHB•Quarterly net income rises as provision reverses
Mechanics Bancorp posted net income of $57.7 million in the quarter ended June 30, 2026, up from $44.1 million in the prior quarter.
Credit costs swung to a $2.77 million provision reversal from a $7.77 million provision, lifting income before tax to $79.3 million from $61.9 million.
Net interest income edges lower while margin widens
Net interest income edged down to $177.2 million from $179 million, while net interest margin widened 0.01 percentage point to 3.62%.
Noninterest expense declines on lower compensation costs
Noninterest expense fell to $124.5 million from $130.4 million, driven by lower salaries and benefits tied to post-merger integration.
Noninterest income increases on Fannie Mae DUS sale gain
Noninterest income rose to from , helped by a gain on sale of the .
