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Mechanics Bancorp sells USD 417 million indirect auto loan portfolio to Bank of America

PUBT·09/17/2026 10:02:20
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Mechanics Bancorp sells USD 417 million indirect auto loan portfolio to Bank of America
  • Mechanics Bancorp sold about $417 million of performing indirect auto loans to Bank of America’s trading desk, priced near book value.
  • Cutoff date for the portfolio sale was Aug. 31, 2026.
  • Roughly $13 million of runoff auto loans will be retained.
  • Westlake Portfolio Management will continue servicing the auto loans for both Bank of America and Mechanics Bank.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Mechanics Bancorp published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001518715-26-000068), on September 17, 2026, and is solely responsible for the information contained therein.