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TriCo Bancshares Reports Third Quarter 2026 Net Income of $38.0 Million, Diluted EPS of $1.18 and Declares $0.36 Cash Dividend

TCBK
  • TriCo Bancshares reported third-quarter 2026 net income of $38.0 million ($1.18 per diluted share), an 11.1% increase from the prior quarter.
  • Net interest income (FTE) reached $96.8 million, up 3.1% from the previous quarter, while net interest margin (FTE) expanded 5 basis points to 4.16%.
  • Total loan balances grew $99.1 million or 5.4% (annualized) from the prior quarter, totaling $7.4 billion.
  • Deposit balances increased $74.6 million or 3.6% (annualized) to $8.44 billion, with non-interest bearing deposits representing 31.0% of total average deposits.
  • The company declared a quarterly cash dividend of $0.36 per share, payable on November 27, 2026, to shareholders of record as of November 16, 2026.
  • The efficiency ratio for the quarter was 56.96%, inclusive of $3.8 million in merger-related expenses associated with the planned acquisition of First Hawaiian Bank.
  • A benefit from credit losses of $1.9 million was recorded in the quarter, compared to a provision of $2.7 million in the prior quarter.
  • The allowance for credit losses to total loans was 1.73% as of September 30, 2026, down from 1.78% in the prior quarter.
  • Non-performing assets represented 0.79% of total assets, with non-performing loans increasing nominally to $69.6 million.
  • Book value per share decreased to $41.56 as of September 30, 2026, while tangible book value per share was $31.93.
  • Return on average assets was 1.50% and return on average equity was 11.08% for the three months ended September 30, 2026.
  • Non-interest income increased 10.5% to $20.2 million, driven largely by $2.2 million in death benefit insurance proceeds.
  • Non-interest expense rose 5.7% to $66.5 million, primarily due to $3.9 million in merger and acquisition expenses.
  • The effective tax rate for the quarter was 27.1%, compared to 26.2% in the prior quarter.
  • The company continues to prepare for its merger with First Hawaiian Bank while maintaining its position as a California-based community bank.