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Mechanics Bank: Q4 Earnings Snapshot

WALNUT CREEK, Calif. (AP) — WALNUT CREEK, Calif. (AP) — Mechanics Bank (MCHB) on Friday reported net income of $124.3 million in its fourth quarter.

The bank, based in Walnut Creek, California, said it had earnings of 54 cents per share. Earnings, adjusted for amortization costs, were 56 cents per share.

The real estate lender posted revenue of $333.7 million in the period. Its revenue net of interest expense was $260 million, surpassing Street forecasts.

For the year, the company reported profit of $265.7 million, or $1.22 per share. Revenue was reported as $808.6 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCHB at https://www.zacks.com/ap/MCHB

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