Mechanics Bank (CA) is headquartered in Richmond and is the 23rd largest bank in the state of California. It is also the 231st largest bank in the nation. It was established in 1905 and as of December of 2013, it had grown to 585 employees at 30 locations. Mechanics Bank (CA) has a B+ health rating.
This is a decent bank. Yes they are local and there seems to be a few sincere people working there, well at least at my local Berkeley branch. I like their name because I am a mechanic type of person, I rampantly fix things. However, a bank is a bank, they are people whose focus in life is money (not fixing things, that's just a name) so unsatisfactory experiences should be considered normal.
Yesterday, I deposited a check into my business account and I left and called the manager back at the Oakland office, her name is Emily Chan, to check on funds availability. She told me that the funds would be available immediately. When I got home from work to pay a credit card so that I could make an important purchase the next day, I found that only $200 is available of a much larger deposit. So actually the bank manager just casually lied to me. I called in to speak to someone about the incident that evening and after waiting 45 minutes, the customer service manager came on the telephone and told me I should contact Rauly Butler the next morning (a Saturday) to report the incident and clear up the situation. Since that information sounded somewhat strange, I asked about his working hours and that supervisor actually gave me specific hours, I called and of course he does not even work on the weekends. What did I get? apologies of course and nothing else. I know I am so naive, but anyways bottom line is I have had a better bank but god knows next to Chase, B of A, etc, this is a great bank.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Mechanics Bank (CA) had $40.64 million in non-current loans and owned real-estate with $329.08 million in equity and loan loss allowances on hand to cover it. This gives Mechanics Bank (CA) a Texas Ratio of 12.35% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Mechanics Bank (CA) decreased dramatically from 18.32% as of December 31, 2012 to 12.35% as of December 31, 2013, resulting in a positive change of 32.59%.This indicates that the balance sheet and financial strength for Mechanics Bank (CA) has improved dramatically in recent periods.
In the past year, Mechanics Bank (CA) has increased its total deposits by $196.15 million, resulting in 7.18% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Mechanics Bank (CA) has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Mechanics Bank (CA) has $3.37 billion in assets with $329.08 million in equity, resulting in a capitalization level of 9.76%, which is above average.
|FDIC Certificate #||1768|
|Assets and Liabilities|
|Equity Capital||$299.16 million|
|Loan Loss Allowance||$29.92 million|
|Unbacked Noncurrent Loans||$34.32 million|
|Real Estate Owned||$6.32 million|
|Historic Data - December 2012|
|Equity Capital||$308.23 million|
|Loan Loss Allowance||$29.30 million|
|Unbacked Noncurrent Loans||$34.32 million|
|Real Estate Owned||$7.08 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.61%|
|Return on Assets||0.66%|
|Return on Equity||7.16%|
|Interest Income||$113.93 million|
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|0.04%||$100k||-||Personal Savings Account|
|0.04%||-||-||Savings Club Account|
|0.04%||$100k||-||Business Savings Account|
|0.10%||$100k||-||Platinum Money Market Account|
|0.10%||$1m||-||Business Money Market Account|
|0.03%||$100k||-||Personal Money Market Plus Account|
|0.03%||$100k||-||Business Money Market Plus Account|
|0.10%||$10m||-||Repurchase Sweep Account|
|0.20%||$5k||-||10 Year Custom CD|
|0.20%||$1k||-||60 Month Custom CD|
|0.10%||$1k||-||24 Month Custom CD|
|0.10%||$1k||-||36 Month Custom CD|
|0.05%||$1k||-||5 Month Guaranteed CD|
|0.05%||$1k||-||11 Month Guaranteed CD|
|0.05%||$5k||-||7 Month Special CD|
|0.05%||$5k||-||9 Month Special CD|
|0.05%||$5k||-||18 Month Special (One-Step) CD|
|0.05%||$1k||-||180 Day Custom CD|
|0.05%||$1k||-||12 Month Custom CD|
|0.02%||$1k||-||7 Day Custom CD|
|0.02%||$1k||-||31 Day Custom CD|
|0.02%||$1k||-||90 Day Custom CD|