Mechanics Bank (CA) is headquartered in Walnut Creek and is the 10th largest bank in the state of California. It is also the 97th largest bank in the nation. It was established in 1905 and as of December of 2019, it had grown to 2,218 employees at 153 locations. Mechanics Bank (CA) has an A+ health rating.
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Mechanic's Bank Rocks
My partner and I have our own general contracting business, specializing in residential remodels. We began using Mechanic's Bank for our business account approximately 15 years ago. Mechanics Bank rocks!
We love the personal service and attention that we get from Mechanic's Bank. They treat us like they're happy to see us. They're always happy to help when we have a question about our account, or about other services like Cashier's Checks or Government Savings Bonds. And they even provide a security guard who helps people safely cross the busy parking lot at our local branch, which is located right on the corner of a busy intersection.
We appreciate that they have many convenient local branches and that they offer a business checking account that meets our needs.
I would recommend Mechanic's Bank to anyone looking for a small, local bank.
Mechanics Bank, Nice Name
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.
Mechanics Bank Is Awful
Mechanics Bank used to be great. It was like a credit union with super friendly staff, great customer service, and tons of perks. Now I get charged for everything, ridiculous over draft fees, high interest rates, 30 minute waits for customer service, and they closed the only branch in a 40 mile radius of me. This bank officially sucks. I have moved all of my money to a new institution that doesn't put profit over people. I would not recommend this bank to anyone. Might as well got o Chase or Wells Fargo where you can at least find a branch to go in and talk to someone.
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 1768 |
| Year Established | 1905 |
| Employees | 2218 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.55% |
| Return on Equity - YTD | 4.02% |
| Annual Interest Income | $406.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $17.20B$6.03B |
| Loans | Q4 2019vs Q4 2018 | $10.13B$4.52B |
| Deposits | Q4 2019vs Q4 2018 | $14.59B$4.69B |
| Equity Capital | Q4 2019vs Q4 2018 | $2.30B$852.9MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $37.3MM$26.4MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $86.7MM$6.5MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $2.9MM$2.7MM |
