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TriCo Bancshares (NASDAQ: TCBK) provides essential financial services through its Tri Counties Bank subsidiary across northern and central California. This news hub delivers timely updates about the company’s operations and market position.
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The Board of Directors of TriCo Bancshares (NASDAQ: TCBK) announced a quarterly cash dividend of $0.25 per share, declared on March 1, 2022. This dividend is payable on March 25, 2022 to shareholders on record as of March 11, 2022. TriCo Bancshares is the parent company of Tri Counties Bank, which has been serving Northern and Central California since 1975, providing a wide range of consumer and commercial banking services.
TriCo Bancshares (NASDAQ: TCBK) reported a net income of $28.22 million for Q4 2021, a rise from $27.42 million in Q3 2021 and $23.66 million in Q4 2020. Diluted EPS increased to $0.94 from $0.92 in the prior quarter and $0.79 year-over-year. The company saw a loan growth of $119.4 million (10.1% annualized) in the current quarter. Total assets reached $8.61 billion, with total deposits at $7.37 billion. The return on average assets was 1.31%, up from 1.24% in Q4 2020. Notably, the efficiency ratio improved to 53.18% compared to 58.40% last year.
TriCo Bancshares (NASDAQ: TCBK) reported net income of $27.4 million for Q3 2021, down from $28.4 million in Q2 2021 but significantly up from $17.6 million in Q3 2020. Diluted EPS decreased to $0.92 from $0.95 in the previous quarter. Key financial metrics showed a return on average assets of 1.30% and a return on average equity of 11.02%. Total loans increased by 1.3% year-over-year, while total deposits rose by 14.1%. Net interest margin declined to 3.50% from 3.58% in the prior quarter. The company remains optimistic about future growth following its merger with Valley Republic Bank.
The Board of Directors of TriCo Bancshares (NASDAQ: TCBK) declared a quarterly cash dividend of $0.25 per share on August 26, 2021. This dividend will be payable on September 24, 2021 to shareholders on record by September 10, 2021. Established in 1975, Tri Counties Bank, a wholly-owned subsidiary of TriCo Bancshares, operates throughout Northern and Central California, providing a range of banking services alongside around-the-clock online banking.
TriCo Bancshares (NASDAQ: TCBK) and Valley Republic Bancorp (OTCQX: VLLX) have entered into a definitive agreement for Valley to merge with TriCo in a stock transaction worth approximately $165.6 million, equivalent to $38.15 per share. This merger will create a community bank with over $9 billion in assets and make Tri Counties Bank the leading community bank in Bakersfield and Kern County. The merger is expected to be 5.5% accretive to TriCo’s earnings in 2022, with anticipated cost savings of 17% of Valley’s non-interest expenses.
TriCo Bancshares (NASDAQ: TCBK) reported a net income of $28.36 million for Q2 2021, down from $33.65 million in Q1 2021 but significantly up from $7.43 million in Q2 2020. Diluted earnings per share were $0.95, a decline from $1.13 in the previous quarter. Total assets grew to $8.17 billion, with total loans at $4.94 billion. Organic loan growth, excluding PPP, was $99.2 million or 8.6% annualized. The efficiency ratio rose to 53.19%. Non-interest income increased by 33.8% year-over-year. The allowance for credit losses decreased to 1.74% of total loans.
TriCo Bancshares (NASDAQ: TCBK) has declared a quarterly cash dividend of $0.25 per share on its common stock, scheduled for payment on June 25, 2021. This dividend is designated for shareholders on record as of June 11, 2021. Established in 1975, Tri Counties Bank offers a range of banking services through various branches in Northern and Central California, complemented by online and mobile banking options.
TriCo Bancshares (NASDAQ: TCBK) reported a net income of $33.65 million for Q1 2021, up 42.2% from $23.66 million in Q4 2020 and 108.7% from $16.12 million in Q1 2020. Diluted EPS rose to $1.13, marking a 43% increase year-over-year. Key highlights include organic loan growth of $68.19 million, a net interest margin of 3.74%, and an efficiency ratio of 50.42%, indicating improved cost management. Total assets surged to $8.03 billion, driven by deposit growth of 22% annually. The company's book value per share increased to $31.71, reflecting robust financial health during the ongoing economic recovery.
TriCo Bancshares (NASDAQ: TCBK) has declared a quarterly cash dividend of $0.25 per share, a 13.6% increase from the previous $0.22 dividend. This dividend is payable on March 26, 2021. Additionally, the Board approved a new share repurchase program authorizing the buyback of up to 2,000,000 shares, equating to 6.7% of outstanding shares. Given the closing stock price of $43.07 on February 26, 2021, this program represents approximately $86.1 million. The repurchase aims to offset employee compensation dilution and reduce share count when attractive opportunities arise.
TriCo Bancshares reported a strong financial performance for Q4 2020, with net income of $23.7 million, up 34.4% from the prior quarter. Diluted EPS increased to $0.79, showing growth from $0.59 in Q3 2020. Key metrics include a 1.24% return on average assets and a 10.37% return on average equity. Total loans were $4.76 billion, despite a decrease in the loan-to-deposit ratio to 73.21%. The bank's efficiency ratio improved to 55.11%, indicating better operational efficiency. Non-performing assets rose slightly to 0.39%, signaling potential concerns.
