TriCo Bancshares reported a net income of $34.2 million for the second quarter of 2026, translating to $1.06 per diluted share, marking a 24.1% increase from $27.5 million or $0.84 per diluted share in the same quarter of the previous year. The company's net interest income rose to $93.6 million, up from $86.5 million year-over-year, driven by a 4.0% increase in interest income from loans, which reached $120.9 million. The net interest margin improved to 4.11%, reflecting a slight increase from 3.88% in the prior year, while the provision for credit losses decreased to $2.7 million from $4.7 million, indicating a more favorable credit environment.
In terms of operational metrics, TriCo's total loans increased by $242.9 million, or 13.7% on an annualized basis, reaching $7.3 billion as of June 30, 2026. This growth was supported by strong loan originations totaling approximately $632.9 million during the quarter. However, total deposits saw a slight decline of $34.8 million, or 1.7%, to $8.4 billion, influenced by a one-time sell deposit activity of $68.8 million. The company maintained a loan-to-deposit ratio of 87.36%, up from 84.11% in the previous quarter.
TriCo Bancshares is also in the process of a significant merger with First Hawaiian, Inc., which was announced on July 12, 2026. Under the terms of the merger agreement, TriCo will merge with a subsidiary of First Hawaiian, with shareholders of TriCo receiving shares of First Hawaiian stock. The transaction is expected to close by the end of 2026, pending regulatory approvals and shareholder consent. This strategic move aims to enhance the combined entity's market presence and operational efficiencies.
The company’s asset quality indicators remained stable, with non-performing assets representing 0.76% of total assets, a slight increase from 0.72% in the previous quarter. The allowance for credit losses stood at $130.2 million, or 1.78% of total loans, reflecting a cautious approach to potential credit risks amid ongoing economic uncertainties. TriCo's capital ratios also remained strong, with total capital to risk-weighted assets at 14.99%, well above the regulatory minimum.
Looking ahead, TriCo Bancshares anticipates continued growth in its loan portfolio, supported by favorable economic conditions and strategic initiatives. The company remains focused on managing its credit risk and maintaining strong capital levels while navigating the complexities of the upcoming merger with First Hawaiian.
About TRICO BANCSHARES /
TriCo Bancshares is a bank holding company for Tri Counties Bank, a California-based community bank offering consumer, small business, and commercial banking services. It provides deposits, loans, treasury management, and wealth management across California. The company emphasizes relationship banking, community engagement, and competitive, personalized service, operating under extensive federal and state regulations to serve diverse markets with a focus on safety, soundness, and community reinvestment.
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