Mechanics Bank and HomeStreet Announce and Complete Strategic All-Stock Merger
September 2, 2025
Mechanics Bank and HomeStreet, Inc. (holding company of HomeStreet Bank) entered into a definitive all-stock merger agreement under which HomeStreet Bank would merge into Mechanics Bank, with Mechanics Bank surviving as a California corporation and a wholly owned subsidiary of the renamed public holding company, Mechanics Bancorp. After receiving regulatory approvals, the deal was completed in 2025, creating a West Coast community bank with ~166 branches and over $22 billion in assets.
- Buyers
- Mechanics Bank, Mechanics Bancorp (renamed from HomeStreet, Inc.)
- Targets
- HomeStreet, Inc., HomeStreet Bank
- Industry
- Financial Services
- Location
- Washington, United States
- Transaction Type
- Buyout
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