Mechanics Bank to merge with HomeStreet in a $300m deal.

Mechanics Bank, an independent, full-service bank based in Walnut Creek, California, agreed to merge with HomeStreet, a diversified financial services company headquartered in Seattle, in a $300m deal. "This transaction is strategically and financially compelling for shareholders of both Mechanics Bank and HomeStreet. We have completed a thorough due diligence process and look forward to welcoming HomeStreet’s clients and employees to our company," C.J. Johnson, Mechanics Bank CEO and President.