Mechanics Bancorp Q2 FY26 net income rises 30.86% to $57.7 million - MCHB News | RalliesMechanics Bancorp Q2 FY26 net income rises 30.86% to $57.7 million
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MCHB• Deposits and merger integration
- Deposits declined to $18.09 billion from $18.24 billion; cost of deposits was 1.25% with a 1.28% spot cost at June 30.
- Integration of the HomeStreet merger was substantially completed.
- The company expects a $56 million dividend in Q3, then $75 million-$100 million in Q4.
Quarterly results improve year over year
- Mechanics Bancorp posted Q2 2026 net income of $57.7 million, up 30.9% from Q1 2026; diluted EPS rose to $0.25 from $0.19.
- Net interest income slipped 1% to $177.2 million; net interest margin edged up 1 basis point to 3.62%.
- Non-interest expense fell 4.6% to $124.5 million; ROAA improved to 1.09% from 0.82%.
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