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TriCo Bancshares Reports First Quarter 2026 Net Income of $33.7 Million, Diluted EPS of $1.04

TCBK
  • TriCo Bancshares reported first quarter 2026 net income of $33.7 million, or $1.04 per diluted share, representing a 27.8% increase from the same quarter in 2025.
  • Net interest income on a fully tax-equivalent basis was $91.5 million, a 1.1% decrease from the trailing quarter, while net interest margin increased 5 basis points to 4.07%.
  • Total loan balances decreased $42.9 million (2.4% annualized) from the previous quarter but increased $247.4 million (3.6%) from the prior year quarter.
  • Total deposit balances increased $139.7 million (6.8% annualized) from the previous quarter and $198.3 million (2.4%) from the prior year quarter.
  • The company repurchased 447,211 shares at an average price of $48.30, reducing common stock outstanding by 424,384 shares.
  • Book value per share rose to $41.49 at March 31, 2026, compared to $41.07 at December 31, 2025.
  • Tangible book value per share increased to $31.82 from $31.52 in the prior quarter.
  • The provision for credit losses was $3.3 million, an increase from $3.0 million in the previous quarter.
  • The allowance for credit losses to total loans was 1.81% as of March 31, 2026.
  • Non-performing assets totaled $76.4 million, or 0.77% of total assets, up from 0.72% in the previous quarter.
  • Total non-interest expense decreased 1.3% to $59.1 million from the previous quarter.
  • The efficiency ratio improved to 54.55% from 54.68% in the prior quarter.
  • Return on average assets was 1.38% and return on average equity was 10.08% for the quarter.
  • The loan-to-deposit ratio was 84.11% as of March 31, 2026, down from 86.05% in the previous quarter.
  • The company reported no use of brokered deposits during 2026 or 2025.
  • Investment security balances increased $28.7 million to $1.87 billion, driven by purchases of fixed-rate agency mortgage-backed securities.