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Mechanics Bancorp in the sale of its Fannie Mae DUS business line to Fifth Third Bancorp

On December 9, 2025, Mechanics Bancorp (NASDAQ: MCHB) announced that its subsidiary Mechanics Bank has entered into a definitive agreement to sell its Fannie Mae Delegated Underwriting and Servicing (“DUS”) business line, which includes an approximately $1.8 billion DUS servicing portfolio, to Fifth Third Bancorp (NASDAQ: FITB) in an all-cash transaction.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Mechanics Bancorp.

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