Mechanics Bancorp reported Q1 2026 adjusted EPS $0.19, missing consensus $0.26 by $0.07, and revenue $200.06 M versus $208.06 M forecast.
Net income fell 60% to $44.1 M from $111.2 M QoQ, while revenue declined 23% YoY to $200.06 M from $143.4 M.
Expenses included $6.5 M pre‑tax provision for geopolitical uncertainty, $4.8 M merger costs and $1.7 M deferred tax asset remeasurement.
Net interest income slipped to $179.0 M, NIM rose to 3.61%, assets fell to $21.4 B, deposits to $18.2 B, CET1 13.91%; stock unchanged.