Trico Bancshares Stock Price, News & Analysis

TriCo Bancshares (NASDAQ: TCBK) announced a quarterly cash dividend of $0.25 per share on May 19, 2022. This dividend will be payable on June 24, 2022 to shareholders on record as of June 10, 2022. TriCo Bancshares, headquartered in Chico, California, operates Tri Counties Bank, which offers a range of financial services across Northern and Central California, including online and mobile banking options.

TriCo Bancshares (NASDAQ: TCBK) reported a net income of $20.4 million for Q1 2022, down from $28.2 million in Q4 2021 and $33.6 million in Q1 2021. Diluted EPS also declined to $0.67 from $0.94 and $1.13 in the previous periods. The merger with Valley Republic Bancorp is complete, with a reduction in nonperforming assets by 48.4%. Organic loan growth was notable at $187.9 million (15.5% annualized), while net interest margin rose to 3.29%. However, provisions for credit losses surged to $8.3 million, compared to $1 million previously.

TriCo Bancshares (NASDAQ: TCBK) has successfully merged with Valley Republic Bancorp (OTC: VLLX) as of March 25, 2022, significantly enhancing its asset base to approximately $10.1 billion. This merger is poised to expand lending capabilities and product offerings for clients. Valley Republic Bank's former branches reopened under the Tri Counties brand on March 28, providing an extensive branch network and access to over 37,000 surcharge-free ATMs. Additionally, TriCo has resumed its stock repurchase plan, allowing for the repurchase of up to 1,936,683 shares of common stock.

TriCo Bancshares (TCBK) and Valley Republic Bancorp (VLLX) announced regulatory approvals for their merger, set to close around March 25, 2022. The merger will combine Valley into TriCo and Valley Republic Bank into Tri Counties Bank, enhancing their business models and cultural alignment. Pro forma, the combined entity will have approximately $10.1 billion in total assets, $5.7 billion in loans, and $8.6 billion in deposits as of December 31, 2021. The companies aim for successful integration to provide better service for clients and shareholders.

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.