Welcome to our dedicated page for Trico Bancshares news (Ticker: TCBK), a resource for investors and traders seeking the latest updates and insights on Trico Bancshares stock.
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.
Access consolidated press releases and verified news articles covering earnings reports, regulatory filings, leadership changes, and community initiatives. Investors and analysts will find strategic insights through coverage of commercial lending developments, digital banking expansions, and financial performance metrics.
Our repository simplifies tracking of TCBK’s activities in consumer banking, small business services, and treasury management solutions. Content spans merger/acquisition announcements, branch network updates, and participation in California economic programs.
Bookmark this page for streamlined monitoring of TriCo Bancshares’ progress in balancing traditional community banking with technological innovation. Check regularly for objective reporting on financial health indicators and regulatory compliance milestones.
Tri Counties Bank and FHLBank San Francisco have awarded over $2.2 million in grants towards affordable housing projects in California. The grants, part of the Affordable Housing Program (AHP) General Fund, will benefit two organizations:
1. Rural Communities Housing Development (RCHDC): Received $660,000 for Sunrise Cottages, a 44-unit community for low-income seniors in Anderson, Shasta County.
2. The Kelsey (partnered with Mercy Housing California): Awarded $1.6 million for The Kelsey Civic Center, a 112-unit development in San Francisco, with 28 units reserved for individuals with disabilities.
These projects aim to address the affordable housing crisis and provide support services for vulnerable populations. The AHP grants are competitive and awarded annually to projects demonstrating need and feasibility.
Tri Counties Bank has launched its Community Cares Basic Needs Drive in partnership with the Foundation for California Community Colleges. Running through September 30, 2024, the drive aims to provide essential supplies to community college students across California. This initiative responds to a recent study revealing that two out of three California community college students struggle with meeting at least one basic need.
The drive accepts donations of items such as baby wipes, diapers, hygiene products, and dental care essentials at all Tri Counties Bank branches. Monetary donations can be made online, directly supporting the Foundation's Student Ambassador Program. This effort is part of Tri Counties Bank's 50th Anniversary celebration and aligns with the recent establishment of Basic Needs Centers at all California community colleges, offering students access to food, hygiene supplies, and various support services.
TriCo Bancshares (NASDAQ: TCBK) reported second quarter 2024 net income of $29.0 million, or $0.87 per diluted share, up from $27.7 million or $0.83 per diluted share in the previous quarter. Key highlights include:
- Deposit balances increased by $62.6 million or 3.1% (annualized)
- Average yield on earning assets rose to 5.24%, up 11 basis points
- Net interest margin (FTE) remained stable at 3.68%
- Non-interest bearing deposits averaged 32.0% of total deposits
- Average cost of total deposits increased to 1.45%, up 24 basis points
The company's focus on core deposit growth and relationship banking continues to yield positive results, with management expressing confidence in the bank's stability and ability to operate effectively in changing economic environments.
TriCo Bancshares (NASDAQ: TCBK), the parent company of Tri Counties Bank, announced a quarterly cash dividend of $0.33 per share. This marks the 139th consecutive quarterly dividend, with a payment date set for June 21, 2024, and a record date on June 7, 2024. The announcement reinforces Tri Counties Bank's commitment to providing consistent returns to its shareholders. Headquartered in Chico, California, TriCo Bancshares has been serving communities in Northern and Central California since 1975. The bank offers a wide array of consumer, small business, and commercial banking services, along with around-the-clock online and mobile banking access. Brokerage services are also available through an affiliation with Raymond James Financial Services.
Tri Counties Bank, in collaboration with the Community Foundation of the North State, has granted $110,000 in scholarships to graduating high school seniors throughout California in May. The scholarships, ranging from $1,000 to $1,500, were awarded to 80 students from 55 high schools across 24 counties. Two types of scholarships were available: income-based for students with a Student Aid Index (SAI) of 0 or less and a GPA of 2.5 or higher, and merit-based for students with a GPA of 3.0 or higher. Sixty $1,500 scholarships went to low-to-moderate income students, while twenty $1,000 scholarships were merit-based. Funds will be sent directly to the students' chosen educational institutions. Applications for the 2025 cycle open on November 1, 2024.
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