Mechanics Bancorp, the holding company of Mechanics Bank, announced the completion of the previously announced strategic merger between Mechanics Bank and HomeStreet Bank.

The transaction significantly expands the West Coast footprint of 120-year-old Mechanics Bank, creating a combined company with 166 branches across California, Washington, Oregon and Hawaii and over $22 billion in assets.

“We are pleased to close this transaction and create the premier community bank on the West Coast with our presence now spanning from San Diego to Seattle,” said Carl B. Webb, Executive Chairman of Mechanics Bancorp. “We extend a warm welcome to HomeStreet’s customers and employees and look forward to serving the communities of the Pacific Northwest and Hawaii.”

In the Merger, HomeStreet Bank merged with and into Mechanics Bank, with Mechanics Bank surviving as a banking corporation incorporated under the laws of the State of California and as a wholly owned subsidiary of Mechanics Bancorp (renamed from HomeStreet Inc., in conjunction with the closing of the Merger).