Merced celebrates groundbreaking of 66-unit supportive housing project. Posted: Oct 8, 2026 / 10:16 PM PDT Updated: Oct 8, 2026 / 10:16 PM PDT MERCED, Calif. (KSEE/KGPE) - The City of Merced officially began construction on a new supportive housing development on Thursday afternoon. When complete, Mercy Village will be a three-story, 66-unit permanent supportive housing development at 3015 Park Avenue in Merced. The project broke ground Thursday for 65 one-bedroom apartments and one two-bedroom apartment. These units are meant to serve those who are experiencing or are in danger of falling into homelessness and are enduring mental health challenges. The permanent supportive housing project will have management offices on location. The project includes a clubhouse and services and counseling spaces. Residents will be able to attend one-on-one sessions, group activities, and classes. Specific mental and behavioral health services will be available for residents as well. California Department of Housing & Community Development, City of Merced, and Mechanics Bank have come together to make this project possible.

Mechanics Bank completes sale of substantial majority of runoff auto loan Portfolio to Bank of America. Business Wire 16-Sep-2026 6:18 PM Mechanics Bancorp ("Mechanics") (NASDAQ:MCHB) announced today that its wholly owned subsidiary, Mechanics Bank, completed the sale to Bank of America's trading desk of approximately $417 million of its remaining performing indirect auto loans at a price near book value, with a cutoff date of August 31, 2026. Mechanics Bank will retain approximately $13 million of runoff auto loans. Westlake Portfolio Management will continue to service the auto loans for both Bank of America and Mechanics Bank. C.J. Johnson, President and CEO of Mechanics, said: "This transaction represents another important step in our ongoing efforts to optimize our balance sheet and allocate capital to its highest and best use. The sale of the substantial majority of our runoff auto loans will reduce risk, improve liquidity and enhance the future profitability of our company." About Mechanics Bancorp Mechanics Bancorp is headquartered in Walnut Creek, Calif., and is the financial holding company of Mechanics Bank, a full-service, FDIC-insured bank with $21.2 billion in assets as of June 30, 2026, and 166 branches across California, Oregon, Washington and Hawaii. Founded in 1905 to help families, businesses and communities prosper, Mechanics Bank offers a wide range of products and services in consumer and business banking, commercial lending, cash management services, private banking, and comprehensive wealth management and trust services. Cautionary Note Regarding Forward Looking Statements This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). All statements other than statements of historical facts included herein may be forward-looking statements. Generally, forward-looking statements include the words "anticipate," "believe," "estimate," "expect," "intend," "may," "will," "plan," "potential," "predict," "goal," "upcoming," "outlook," "guidance" or "project" or the negative of those terms, or similar expressions. Market Chameleon do not assume any obligation or undertake to update any forward-looking statements after the date of this release as a result of new information, future events or developments, except as required by federal securities or other applicable laws, although Market Chameleon may do so from time to time. For all forward-looking statements, Market Chameleon claim the protection of the safe harbor for forward-looking statements contained in the Reform Act.