Mechanics Bank


Mechanics Bank is an FDIC insured institution headquartered at 1111 Civic Dr, Walnut Creek, CA 94596.
It was founded in 1905 and has approximately $17 billion in assets. Customers can open an account at one of its 36 branches.

Deposit Rates - July 22, 2024

SAVINGS RATES APY MIN
CD RATES APY MIN
Special: 5 Mo CD
0.50% $1,000 Compare
6 Mo CD
0.05% $10,000 Compare
6 Mo CD
0.05% $100,000 Compare
Special: 11 Mo CD
0.25% $1,000 Compare
FIXED IRA RATES APY MIN
Special: 5 Mo FIRA
0.50% $1,000
Special: 11 Mo FIRA
0.25% $1,000
Special: 36 Mo FIRA
0.75% $1,000

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 1768
Date Established 1905
Assets $ 17.34 billion
Loans $ 10.33 billion
Deposits $ 14.17 billion
Capital $ 2.20 billion

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 1,675.90 million
Interest-bearing balances $ 1,518.59 million
Total securities $ 3.84 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 10.33 billion
Loan loss allowance $ 120.83 million
Trading account assets $ 20.94 million
Bank premises and fixed assets N.A.
Other real estate owned $ 19.29 million
Goodwill and other intangibles $ 891.75 million
All other assets $ 394.09 million
     Total Assets $ 15.14 billion

LIABILITIES
Total deposits $ 14.17 billion
      Interest-bearing deposits $ 8.25 billion
      Deposits held in domestic offices $ 14.17 billion
      % insured (estimated) 57.38%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities $ 18.38 million
Other borrowed funds N.A.
Subordinated debt $ 24.98 million
All other liabilities $ 199.13 millionn
      Total Liabilities $ 15.14 billion
      Shareholders’ Equity $ 2.20 billion

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 172.94 million
Total Interest Expense $ 51.16 million
Net interest income $ 121.78 million
Provision for loan and lease losses N.A.
Total non interest income $ 16.17 million
Total non interest expense $ 88.87 million
Pre-tax Net Operating Income $ 156.62 million

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Branches

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Mechanics Bank Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Bank
    CALIFORNIA
    $50,000
    5 Month
    0.50%
    N.A.
    $1,000
    -
    SCENARIO
    Year Rate
    0.50%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 250 175
    2 50,250 251 176
    3 50,501 253 177
    4 50,754 254 178
    5 51,008 255 179
    6 51,263 256 179
    7 51,519 258 180
    8 51,776 259 181
    9 52,035 260 182
    10 52,296 261 183
    11 52,557 263 184
    12 52,820 264 185
    13 53,084 265 186
    14 53,349 267 187
    15 53,616 268 188
    16 53,884 269 189
    17 54,154 271 190
    18 54,424 272 190
    19 54,696 273 191
    20 54,970 275 192
    TOTAL $5,245 $3,671
  • 2
    LOCAL CD
    Bank
    -
    $50,000
    7 Month
    5.05%
    N.A.
    $5,000
    -
    SCENARIO
    Year Rate
    5.05%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,525 1,768
    2 52,525 2,653 1,857
    3 55,178 2,786 1,951
    4 57,964 2,927 2,049
    5 60,891 3,075 2,153
    6 63,966 3,230 2,261
    7 67,196 3,393 2,375
    8 70,590 3,565 2,495
    9 74,155 3,745 2,621
    10 77,899 3,934 2,754
    11 81,833 4,133 2,893
    12 85,966 4,341 3,039
    13 90,307 4,561 3,192
    14 94,868 4,791 3,354
    15 99,659 5,033 3,523
    16 104,691 5,287 3,701
    17 109,978 5,554 3,888
    18 115,532 5,834 4,084
    19 121,367 6,129 4,290
    20 127,496 6,439 4,507
    TOTAL $83,934 $58,754
  • 3
    LOCAL CD
    Bank
    -
    $50,000
    12 Month
    5.15%
    9.20x (National Avg. - 0.56%)
    $5,000
    -
    SCENARIO
    Year Rate
    5.15%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,575 1,803
    2 52,575 2,708 1,895
    3 55,283 2,847 1,993
    4 58,130 2,994 2,096
    5 61,123 3,148 2,203
    6 64,271 3,310 2,317
    7 67,581 3,480 2,436
    8 71,062 3,660 2,562
    9 74,721 3,848 2,694
    10 78,569 4,046 2,832
    11 82,616 4,255 2,978
    12 86,870 4,474 3,132
    13 91,344 4,704 3,293
    14 96,049 4,946 3,463
    15 100,995 5,201 3,641
    16 106,196 5,469 3,828
    17 111,665 5,751 4,026
    18 117,416 6,047 4,233
    19 123,463 6,358 4,451
    20 129,821 6,686 4,680
    TOTAL $86,507 $60,555