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Trico Bancshares (NASDAQ: TCBK) is a prominent bank holding company established in 1975 and headquartered in Chico, California. Its wholly-owned subsidiary, Tri Counties Bank, operates an extensive network of traditional stand-alone and in-store branches across Northern and Central California. The bank offers a wide array of consumer, small business, and commercial banking services, making it a pivotal financial partner in the region.
Core Services:
- Consumer Banking: Comprehensive services including demand, savings, and time deposits, and consumer loans.
- Small Business Banking: Specialized services tailored to small businesses, including commercial loans and Treasury Management Services.
- Commercial Banking: A range of financial solutions such as real estate loans, commercial loans, and other banking services like safe deposit boxes at select branches.
Innovative Banking Solutions:
Tri Counties Bank is committed to providing modern banking conveniences. Customers have access to around-the-clock ATM services, online banking, and mobile banking, ensuring seamless management of their financial activities anytime, anywhere.
Financial Health:
TriCo Bancshares has demonstrated robust financial health, driven by adherence to core values, sound business principles, and responsible lending practices. The company’s primary revenue source is the net interest income from its diversified banking activities.
Community Engagement:
Tri Counties Bank takes pride in its community involvement. From participating in local events to supporting educational and non-profit initiatives, the bank’s employees are active members of the communities they serve.
Recent Achievements:
Recent strategic initiatives and partnerships have further solidified TriCo Bancshares’ position as a leading financial institution. The bank continues to expand its reach and enhance its service offerings to meet the evolving needs of its customers.
Stay updated with the latest news and developments from TriCo Bancshares to understand the dynamic landscape of this thriving financial entity.
TriCo Bancshares (NASDAQ: TCBK) reported net income of $35.8 million for Q1 2023, a slight decrease from $36.3 million in the previous quarter but significantly higher than $20.4 million the previous year. Diluted earnings per share were $1.07, down from $1.09 quarter-over-quarter. The company's return on average assets was 1.47% and return on average equity was 13.36%. A notable concern was a 3.64% decline in total deposits, decreasing by $303.1 million, which increased the loan-to-deposit ratio to 80.0%. Total loans outstanding were $6.42 billion, a 10.8% increase year-over-year but a small decline from the previous quarter. Despite challenges in the banking sector, the management remains confident in their diverse customer base and performance differentiation.
TriCo Bancshares (NASDAQ: TCBK) has declared a quarterly cash dividend of $0.30 per share on March 6, 2023. The dividend is payable on March 24, 2023, to shareholders on record as of March 17, 2023. Founded in 1975, Tri Counties Bank, a subsidiary of TriCo Bancshares, offers comprehensive banking services throughout Northern and Central California, along with around-the-clock ATM, online, and mobile access. This dividend reflects the company's commitment to providing value to its shareholders amid a competitive banking landscape.
TriCo Bancshares (NASDAQ: TCBK) reported a net income of $36.3 million for Q4 2022, down from $37.3 million in Q3 2022 but up 28.8% year-over-year. Diluted earnings per share were $1.09, compared to $1.12 in the prior quarter. The net interest margin rose by 0.32% to 4.34%. Organic loan growth was $136.2 million or 8.6% annualized, while total loans reached $6.5 billion. However, total deposits fell by 15.1% to $8.3 billion. The company maintains strong capital ratios and liquidity but anticipates slower growth in net interest income in 2023.
Tri Counties Bank has launched the Homeownership Access Program aimed at promoting homeownership in historically disadvantaged communities in Northern and Central California. Qualified applicants can receive a closing cost credit of up to
TriCo Bancshares (NASDAQ: TCBK) reported a net income of $37.3 million for Q3 2022, a 19% increase from the prior quarter. Diluted earnings per share rose to $1.12, up from $0.93 in Q2 2022. The net interest margin improved to 4.02%, driven by a 10.7% increase in net interest income. Organic loan growth reached $216.7 million, or 14.2% annualized. Non-interest income declined by 4.8% to $15.6 million due to falling mortgage-related gains. The efficiency ratio improved to 49.6%, indicating enhanced operational efficiency. Total loans stood at $6.3 billion, with deposits totaling $8.7 billion.
Tri Counties Bank has partnered with United Way of Northern California to launch the NorCal Wildfire Fund, contributing an initial $20,000 towards a $3 million goal. The fund aims to aid wildfire-affected communities across several counties, including Butte and Shasta. Donations can be made at Tri Counties Bank branches or online. Funds will support various programs, such as RV assistance and mental health services for survivors. The 2022 wildfire season has resulted in significant damage, with six fatalities and 400 homes destroyed.
The Board of Directors of TriCo Bancshares (NASDAQ: TCBK) declared a quarterly cash dividend of
Tri Counties Bank has announced over $2.1 million in grants awarded to three organizations under the Federal Home Loan Bank of San Francisco’s Affordable Housing Program. The grants support the creation of 149 affordable housing units for those earning less than 60% of the area median income, including veterans and low-income families. The nominated organizations include Collier Avenue, Piper Way Senior Housing, and Siskiyou Crossroads. These competitive AHP grants are aimed at addressing urgent affordable housing needs in local communities.
TriCo Bancshares (NASDAQ: TCBK) reported a net income of $31.4 million for Q2 2022, compared to $20.4 million in Q1 2022, reflecting a 53.9% increase. The diluted earnings per share rose to $0.93, up from $0.67 in the previous quarter. Organic loan growth reached $300.3 million, representing a 20.7% annualized growth rate. Net interest margin increased to 3.57%, up 28 basis points from Q1. Noninterest income grew by 8.8% to $16.4 million. Despite merger-related expenses affecting net revenues, credit quality improved with non-performing assets decreasing to 0.15% of total assets.
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