Bank / Credit Union

Mechanics Bank merges with HomeStreet Bank

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September 15, 2025

Mechanics Bancorp, based in the Walnut Creek, California, has completed its merger with HomeStreet Bank.

The combined company will have 166 branches in California, Washington, Oregon and Hawaii, according to a press release.

The combined bank has more than $22 billion in assets. Through the merger agreement, HomeStreet Bank merged with and into Mechanics Bank.

"We are pleased to close this transaction and create the premier community bank on the West Coast with our presence now spanning from San Diego to Seattle," Carl B. Webb, executive chairman of Mechanics Bancorp, said in the release. "We extend a warm welcome to HomeStreet's customers and employees and look forward to serving the communities of the Pacific Northwest and Hawaii."