Trico Bancshares Stock Price, News & Analysis

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.

TriCo Bancshares (NASDAQ: TCBK) announced a quarterly cash dividend of $0.22 per share on November 19, 2020. This dividend will be payable on December 18, 2020 to shareholders recorded as of December 4, 2020. The company, founded in 1975, operates Tri Counties Bank, which offers a range of consumer and commercial banking services across Northern and Central California. The bank emphasizes customer service and provides online and mobile banking options.

TriCo Bancshares (NASDAQ: TCBK) reported a net income of $17.6 million for Q3 2020, up from $7.4 million in Q2 2020 but down from $23.4 million in Q3 2019. The diluted EPS was $0.59, a rise from $0.25 in Q2 but down from $0.76 year-over-year. The Company’s return on average assets was 0.95%, with total loans at $4.83 billion. Net interest margin declined to 3.72% from 4.44% in Q3 2019. The credit provision expense was $7.6 million, a decrease from $22.2 million in Q2 2020, while non-performing assets rose to 0.34%.

Tri Counties Bank, headquartered in Chico, California, is contributing a total of $100,000 to four organizations supporting minority-owned businesses in Northern and Central California. Each organization will receive $25,000 to enhance microlending, technical assistance, and training programs. The bank is encouraging additional community support for these initiatives. This effort is part of Tri Counties Bank's commitment to fostering economic development and financial success within its communities.