Mechanics Bank (CA)

Overview / Commentary
1111 Civic Drive
Walnut Creek, CA 94596

Mechanics Bank (CA) is headquartered in Walnut Creek and is the 11th largest bank in the state of California. It is also the 105th largest bank in the nation. It was established in 1905 and as of June of 2022, it had grown to 1,730 employees at 122 locations. Mechanics Bank (CA) has an A health rating.

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

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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.

AWEFUL Service/Nearly Impossible To Payoff Loans Early

Recently got an auto loan through Mechanics Bank. Called customer service 2X and had to wait +20 minutes the 1st time and +30 minutes the 2nd time to speak to a representative. Found out that you are limited on how much you can pay each month via online transactions. When asked if I could pay extra on my loan electronically and have it applied to the principal, was told "No" - I would have to send a separate check by snail mail each month along with a letter saying to apply it to the principle and note it on the Memo. This bank DOES NOT want customers to pay off loans early. I'm paying off the loan TODAY and going through my regular bank so I can pay as much and as often as I want. AND when I call, I can speak to someone within a minute or two.

Worst Bank

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Do not intentionally do business with this bank. My home loan recently got sold to them and I have had nothing but problems. All my other mail shows up on time I continually do not have statements/bills mailed to me.

Today after returning from a trip I wanted to make a payment in person I called the advised me I can go to any of my local offices to make a payment I drove down (two cities away). To be told over a doorbell phone that they would not accept my payment there. So glad I will never be a voluntary customer of your shitty bank.




Health Grade Components

FDIC Certificate #1768
Year Established1905
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.16%
Return on Equity - YTD9.55%
Annual Interest Income$309.8MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$18.62B$18.80B
LoansQ2 2022vs Q2 2021$11.35B$11.10B
DepositsQ2 2022vs Q2 2021$16.15B$15.98B
Equity CapitalQ2 2022vs Q2 2021$2.23B$2.53B
Loan Loss AllowanceQ2 2022vs Q2 2021$133.3MM$132.0MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$39.9MM$50.3MM
Real Estate OwnedQ2 2022vs Q2 2021$0$738.00K

Sorry, we do not have rate data for Mechanics Bank (CA).



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