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SUBSEQUENT EVENTS | 3 Months Ended
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Mar. 31, 2026
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Legal Contingencies McClain Feed Yard Litigation. On April 10, 2026, in the consolidated actions pending in the U.S. Bankruptcy Court for the Northern District of Texas to which Mechanics Bank is a party, as described in Note 11, “Contingencies—Legal Contingencies,” the bankruptcy court issued an order dismissing the Chapter 7 Trustee’s only remaining claims against Mechanics Bank (for actual and constructive fraudulent transfers and preferential transfers). The court ordered the constructive fraudulent transfer claims be dismissed with prejudice to refiling. The court ordered the claims for preferential and actual fraudulent transfers be dismissed without prejudice to refiling. This follows an earlier bankruptcy court order dismissing all of the Chapter 7 Trustee’s common law claims against Mechanics Bank with prejudice, as described in Note 11. Asset Sale On May 1, 2026, Mechanics Bank completed the previously announced sale of its Fannie Mae DUS business line to Fifth Third for aggregate cash consideration of approximately $126 million. Under the terms of the completed transaction, Fifth Third acquired Mechanics Bank’s approximately $1.8 billion DUS servicing portfolio, including associated escrow amounts, and hired Mechanics Bank employees who operate the DUS business line.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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