C.J. Johnson
About C.J. Johnson
C.J. Johnson, 42, is President and Chief Executive Officer of Mechanics Bancorp (formerly HomeStreet, Inc.) and previously served as President & CEO of Mechanics Bank (interim from February 2024; permanent from January 2025). He was formerly EVP & CFO of Mechanics Bank, is a Partner at Ford Financial Fund (since June 2013), and earlier held roles at Santa Barbara Bank & Trust, Flexpoint Ford, and Credit Suisse; he holds a B.A. in Economics (highest distinction and honors) from the University of Michigan . Under Johnson’s leadership transition, Mechanics Bank completed its strategic merger with HomeStreet, forming a combined West Coast community bank with ~166 branches and over $22B in assets on September 2, 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Mechanics Bancorp (formerly HomeStreet, Inc.) | President & CEO | Sep 2, 2025–present | Leads combined Mechanics/HomeStreet platform post-merger |
| Mechanics Bank | President & CEO (interim → permanent) | Interim: Feb 2024–Jan 2025; CEO: Jan 2025–Sep 2025 | Oversaw operations leading into/through merger with HomeStreet |
| Mechanics Bank | EVP & Chief Financial Officer | Not disclosed | Financial leadership prior to CEO role |
| Ford Financial Fund | Partner | Jun 2013–present | Strategic investor in banking; ultimate sponsor of controlling stake post-merger |
| Santa Barbara Bank & Trust | SVP & Director of Financial Planning | Joined 2010 | Financial planning leadership |
| Flexpoint Ford | Associate | Not disclosed | Private equity investing experience |
| Credit Suisse | Investment Banking Analyst | Not disclosed | Foundational capital markets experience |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Ford Financial Fund | Partner | Jun 2013–present | Sponsor affiliates collectively own ~77.7% voting power/74.4% economic power of Mechanics Bancorp post-merger |
Fixed Compensation
- The Form 8-K reporting Johnson’s appointment did not disclose base salary, target bonus, or other fixed-pay terms for Johnson .
Performance Compensation
- 2025 Equity Plan: The company adopted the Mechanics Bancorp 2025 Equity Incentive Plan; however, Johnson’s specific grants, vesting, or performance metric weightings were not disclosed in the appointment filing .
- Equity treatment at closing: Legacy Mechanics Bank RSUs converted into Mechanics Bancorp Class A RSUs at a 3,301.0920 exchange ratio and continue on prior terms; HomeStreet PSUs for legacy executives vested at target and were cancelled at closing. Individual award amounts for Johnson were not disclosed .
Equity Ownership & Alignment
- Ownership concentration and governance: Following the merger, Ford entities beneficially own ~77.7% of voting power and ~74.4% of economic power; the company elected “controlled company” status under Nasdaq rules, relaxing certain independence requirements—key for assessing alignment and minority shareholder protections .
- Trading plans: In Q3 2025, the company reported no adoption, modification, or termination of Rule 10b5-1 or non-Rule 10b5-1 trading arrangements by directors or officers (which would include the CEO). This suggests no pre-programmed selling pressure during that quarter .
- RSU conversion at merger close implies continued time-based vesting of legacy Mechanics awards; no share counts or Johnson-specific holdings were disclosed in the cited filings .
Employment Terms
- Appointment: Johnson was appointed President & CEO of Mechanics Bancorp on September 2, 2025 in connection with merger close .
- Agreements: The filing disclosed change-in-control agreements for the CFO, COO, and CAO (2.75x salary+target bonus, COBRA, and cutback provisions), but did not disclose an employment or change-in-control agreement for Johnson in that report .
- Controlled company framework and board composition changes were detailed, with no indication that Johnson is a director; he serves as an officer .
Investment Implications
- Pay transparency and incentives: Absence of disclosed CEO compensation metrics/targets limits immediate pay-for-performance assessment; however, the newly adopted 2025 Equity Plan and continued RSU vesting for legacy Mechanics awards indicate equity-based alignment and potential multi-year vesting horizons (dampening near-term selling pressure) .
- Governance and control: Ford’s ~77.7% voting control and the company’s “controlled company” election concentrate governance power; Johnson’s role as a Ford partner may align management with the controlling shareholder, which can be positive for decisive strategy but raises minority shareholder governance considerations .
- Trading/selling overhang: No Rule 10b5-1 plans reported for officers/directors in Q3 2025 reduces the risk of near-term programmed selling; monitor subsequent quarters for any plan adoptions or insider transactions .
- Strategic execution: Johnson’s progression from CFO to CEO and through merger close of a $22B-asset platform provides operational continuity; delivery against post-merger integration, credit performance, deposit franchise stability, and efficiency ratio trajectory will be the key scorecard for assessing future incentive payouts and value creation .
Notes and gaps:
- CEO base salary, target/actual bonus, and specific 2025/2026 equity grant details for Johnson were not disclosed in the cited filings. Monitor future 10-K/DEF 14A for comprehensive CEO compensation tables, performance metric weightings, vesting schedules, and beneficial ownership disclosures .
Citations:
- Appointment, bio, age, education:
- Merger completion, company scale:
- RSU/PSU treatment at close:
- Controlled company status:
- Post-close ownership concentration (Ford entities):
- 2025 Equity Incentive Plan:
- Q3-2025 officer/director 10b5-1 status: