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TriCo Bancshares Reports Fourth Quarter 2025 Net Income of $33.6 Million & Authorization of New Share Repurchase Program

TCBK
  • TriCo Bancshares reported fourth-quarter 2025 net income of $33.6 million ($1.03 per diluted share), an increase of 15.8% from $29.0 million ($0.88 per share) in the same quarter of 2024.
  • Net interest income on a fully tax-equivalent basis reached $92.5 million, a 2.97% increase from the prior quarter, while the net interest margin expanded 10 basis points to 4.02%.
  • Total loan balances grew $104.3 million (6.0% annualized) to $7.11 billion, while total deposit balances decreased $70.6 million (3.4% annualized) to $8.26 billion due to a $72.9 million one-way sale of deposits.
  • The company recorded a provision for credit losses of $3.0 million for the quarter, compared to $0.7 million in the prior quarter and $1.7 million in the fourth quarter of 2024.
  • The allowance for credit losses totaled $125.8 million, representing 1.77% of total loans, with non-performing assets at 0.72% of total assets.
  • Non-interest income decreased 4.7% to $17.2 million, primarily due to a prior quarter gain on debt extinguishment and losses on investment securities sales, while non-interest expense fell 1.0% to $59.8 million.
  • The efficiency ratio improved to 54.68% from 56.18% in the trailing quarter, and return on average equity stood at 10.02%.
  • Book value per share increased to $41.07, while tangible book value per share rose to $31.52 during the quarter.
  • Management anticipates 2026 expense growth to accelerate to approximately 5% compared to the 3% seen in 2025, while maintaining positive operating leverage.
  • The Board authorized a new share repurchase program for up to 2,000,000 shares, with potential value of approximately $97.1 million based on the January 20, 2026 stock price.