TRICO BANCSHARES /

Listed Company

TCBKCIK 0000356171NasdaqLarge AcceleratedState Commercial BanksCaliforniaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$121.56M

Total Assets

$9.82B

Equity

$1.33B

Shares Out

32.15M

Op. Cash Flow

$133.29M

Business

TRICO BANCSHARES is a bank holding company that operates through its wholly owned subsidiary, Tri Counties Bank, and several wholly owned capital trusts. The company provides traditional banking products and services, including deposit accounts, consumer, small business and commercial loans, real estate lending, treasury management, and brokerage services through Tri Counties Wealth Management Advisors. Its operations include community banking activities, a wealth management arrangement with an independent broker-dealer, and capital trust subsidiaries formed to issue trust preferred securities. The company serves customers primarily in California through stand-alone and in-store branches, business lending centers, advanced online and mobile banking, a shared nationwide ATM network, and telephone bankers.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	397	390	357	285	242
Taxable securities	59	67	74	59	29
Tax exempt securities	4	4	5	5	4
Dividends	2	2	1	1	991,000
Interest bearing cash at Federal Reserve and other banks	9	4	1	4	858,000
Total interest and dividend income	471	467	438	356	277
Deposits	113	113	55	5	3
Other borrowings	1	15	20	421,000	22,000
Junior subordinated debt	5	7	7	4	2
Total interest expense	120	135	82	10	—
Net interest income	351	331	357	346	272
Provision for credit losses	12	7	24	—	—
Net interest income after provision for credit losses	339	325	333	328	278
Service charges and fees	53	51	50	50	44
Commissions on sale of non-deposit investment products	7	6	5	4	4
Increase in cash value of life insurance	3	3	3	3	3
Gain on sale of loans	2	2	1	2	10
Loss on sale of investment securities	−3	−43,000	−284,000	0	0
Other	6	3	3	4	4
Total noninterest income	68	64	61	63	64
Salaries and related benefits	150	141	136	130	106
Other	91	94	97	87	72
Total noninterest expense	241	234	233	217	178
Income before provision for income taxes	166	155	161	174	164
Provision for income taxes	45	40	44	48	46
Net income	122	115	117	125	118
Basic (in USD per share)	3.72	3.47	3.53	3.85	3.96
Diluted (in USD per share)	3.7	3.46	3.52	3.83	3.94

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	93	85	82	96	57
Cash at Federal Reserve and other banks	64	60	17	11	711
Cash and cash equivalents	157	145	99	107	768
Marketable equity securities	3	3	3	3	3
Available for sale debt securities, at fair value (amortized cost of $1,883,412 and $2,138,533)	1,732	1,905	2,153	2,452	2,208
Held to maturity debt securities, at amortized cost, net of allowance for credit losses of $0	91	112	133	161	200
Restricted equity securities	17	17	17	17	17
Loans held for sale	3	709,000	458,000	2	3
Loans	7,111	6,769	6,794	6,450	4,917
Allowance for credit losses	−126	−125	−122	−106	−85
Total loans, net	6,985	6,643	6,673	6,345	4,831
Premises and equipment, net	70	70	71	72	79
Cash value of life insurance	137	140	137	134	118
Accrued interest receivable	34	35	37	32	19
Goodwill	304	304	304	304	221
Other intangible assets, net	4	6	11	17	12
Operating leases, right-of-use	26	24	26	27	26
Other assets	260	269	246	258	109
Total assets	9,822	9,674	9,910	9,931	8,615
Noninterest-bearing demand	2,594	2,549	2,723	3,502	2,980
Interest-bearing	5,670	5,539	5,111	4,827	4,387
Total deposits	8,264	8,088	7,834	8,329	7,367
Accrued interest payable	9	12	8	1	928,000
Operating lease liability	27	25	28	29	26
Other liabilities	141	138	146	160	112
Other borrowings	12	90	633	265	50
Junior subordinated debt	41	101	101	101	58
Total liabilities	8,494	8,453	8,750	8,885	7,615
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred stock, no par value: 1,000,000 shares authorized; zero issued and outstanding at December 31, 2025 and 2024, respectively	0	0	0	0	0
Common stock, zero par value: 50,000,000 shares authorized; issued and outstanding: 32,334,974 and 32,970,425 at December 31, 2025 and 2024, respectively	682	693	697	697	532
Retained earnings	740	680	616	543	467
Accumulated other comprehensive loss, net of tax	−95	−152	−153	−194	981,000
Total shareholders equity	1,328	1,221	1,160	1,046	1,000
Total liabilities and shareholders equity	9,822	9,674	9,910	9,931	8,615

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	122	115	117	125	118
Depreciation of premises and equipment, and amortization	6	6	6	6	6
Amortization of intangible assets	2	4	6	6	5
Provision for credit losses	12	7	24	—	—
Amortization of investment securities premium, net	2	865,000	312,000	7	7
Originations of loans for resale	−72	−60	−43	−72	−217
Proceeds from sale of loans originated for resale	71	60	45	75	228
Change in fair market value of mortgage servicing rights	560,000	480,000	506,000	−301,000	872,000
Gain on extinguishment of junior subordinated debt	−3	0	0	—	—
Loss (gain) on sale of real estate owned, net	253,000	8,000	−18,000	−166,000	—
Deferred income tax benefit (expense)	3	−646,000	−2	−8	−936,000
Gain on transfer of loans to real estate owned	0	−81,000	−114,000	−316,000	—
Operating lease payments	−6	−6	−6	−6	−5
Loss on disposal of fixed assets	117,000	19,000	23,000	−1	−439,000
Gain on life insurance death benefit	−1	0	0	−309,000	−702,000
Gain on marketable equity securities	−83,000	−40,000	−36,000	340,000	86,000
Equity compensation vesting expense	5	5	4	4	3
Change in fair value of other real estate	3,000	323,000	797,000	113,000	9,000
Amortization of operating lease right of use asset	6	6	6	6	5
Interest receivable	1	2	−5	−9	712,000
Interest payable	−3	3	7	−287,000	−434,000
Other assets and liabilities, net	−10	−28	−19	17	2
Net cash from operating activities	133	110	139	163	132
Maturities and principal repayments of securities available for sale	319	401	322	268	372
Maturities and principal repayments of securities held to maturity	21	21	27	38	84
Proceeds from sale of available for sale securities	79	32	71	0	0
Purchases of securities available for sale	−147	−188	−34	−699	−1,191
Loan origination and principal collections, net	−354	23	−346	−739	−46
Loans purchased	−5	0	−6	−23	−108
Proceeds from sale of real estate owned	3	351,000	224,000	873,000	2
Purchases of premises and equipment	−5	−5	−5	−4	−3
Life insurance proceeds	7	0	0	641,000	4
Net cash used in investing activities	−83	285	29	−723	−884
Net change in deposits	176	254	−495	−254	861
Net change in other borrowings	−78	−543	368	215	23
Repayment of junior subordinated debt	−60	0	0	—	—
Repurchase of common stock, net	−32	−16	−9	−27	−4
Dividends paid	−45	−44	−40	−36	−30
Exercise of stock options	0	174,000	156,000	1	144,000
Net cash provided by (used in) financing activities	−39	−348	−176	−101	850
Net change in cash and cash equivalents	12	46	−9	−661	99
Cash paid for interest expense	122	132	74	9	6
Cash paid for income taxes	28	34	45	41	46
Unrealized gain (loss) on securities available for sale	82	−2	59	−290	−20
Loans transferred to foreclosed assets	6	682,000	155,000	1	1
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes	2	1	2	3	2
Obligations incurred in conjunction with leased assets	7	2	4	6	3

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