NasdaqGS:MCHBBanks
Mechanics Bancorp Reshapes Business With Integration Milestone And Special Dividend
Mechanics Bancorp (NasdaqGS:MCHB) has completed a major integration step by converting legacy HomeStreet customers onto its core banking platform.
The company plans to divest its Dusk business line for $130 million, with the transaction expected to close in Q2.
Mechanics Bancorp also announced an intended special dividend of about $0.70 per share, subject to regulatory and board approval.
The integration is expected to substantially complete in the coming quarter and is anticipated to...