$TCBK

TRICO BANCSHARES /

CIK:0000356171|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and dividend income:
Loans, including fees	$ 104,595	$ 98,695	$ 204,944	$ 194,073
Investments:
Taxable securities	14,102	14,548	27,890	29,921
Tax exempt securities	865	879	1,731	1,763
Dividends	204	373	1,078	752
Interest bearing cash at Federal Reserve and other banks	1,220	1,866	3,170	3,929
Total interest and dividend income	120,986	116,361	238,813	230,438
Interest expense:
Deposits	26,665	28,038	52,588	56,903
Other borrowings	7	92	8	1,061
Junior subordinated debt	684	1,712	1,361	3,413
Total interest expense	27,356	29,842	53,957	61,377
Net interest income	93,630	86,519	184,856	169,061
Provision for credit losses	2,655	4,665	5,980	8,393
Net interest income after credit loss provision	90,975	81,854	178,876	160,668
Non-interest income:
Service charges and fees	13,998	13,650	27,158	26,328
Gain on sale of loans	485	503	882	847
Gain (loss) on sale or call of investment securities	0	4	17	(1,142)
Asset management and commission income	1,761	1,635	3,810	3,123
Increase in cash value of life insurance	875	842	1,691	1,662
Other	1,127	456	1,720	2,345
Total non-interest income	18,246	17,090	35,278	33,163
Non-interest expense:
Salaries and related benefits	38,972	38,286	75,117	75,141
Other	23,953	22,845	46,860	45,575
Total non-interest expense	62,925	61,131	121,977	120,716
Income before provision for income taxes	46,296	37,813	92,177	73,115
Provision for income taxes	12,127	10,271	24,323	19,210
Net income	$ 34,169	$ 27,542	$ 67,854	$ 53,905
Per share data:
Basic earnings per share (in USD per share)	$ 1.07	$ 0.84	$ 2.12	$ 1.64
Diluted earnings per share (in USD per share)	1.06	0.84	2.10	1.63
Dividends per share (in USD per share)	$ 0.36	$ 0.33	$ 0.72	$ 0.66

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income	$ 67,854	$ 53,905
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of premises and equipment, and amortization	3,241	3,104
Amortization of intangible assets	860	997
Provision for credit losses	5,980	8,393
Amortization of investment securities premium, net	321	919
(Loss) gain on sale of investment securities	(17)	1,142
Originations of loans for sale	(35,510)	(38,334)
Proceeds from sale of loans originated for sale	36,939	37,984
Gain on sale of loans	(882)	(847)
Change in fair market value of mortgage servicing rights	406	192
Provision for losses on foreclosed assets	0	3
Change in the market value of foreclosed assets	188	(3)
Operating lease expense payments	(3,348)	(2,996)
(Gain) loss on disposal of fixed assets	(15)	90
Increase in cash value of life insurance	(1,691)	(1,662)
Gain on life insurance death benefit	(330)	(1,207)
(Gain) loss on marketable equity securities	27	(47)
Equity compensation vesting expense	2,166	2,375
Change in:
Interest receivable	142	2,276
Interest payable	(1,646)	(1,329)
Amortization of operating lease ROUA	3,228	2,895
Other assets and liabilities, net	(19,073)	(14,100)
Net cash from operating activities	58,840	53,750
Investing activities:
Proceeds from maturities of securities available for sale	154,215	125,572
Proceeds from maturities of securities held to maturity	9,666	10,107
Proceeds from sale and calls of available for sale securities	4,480	30,743
Purchases of securities available for sale	(132,848)	(24,620)
Loan origination and principal collections, net	(201,854)	(198,569)
Proceeds from sale of other real estate owned	0	103
Proceeds from sale of premises and equipment	15	0
Purchases of premises and equipment	(2,607)	(2,715)
Proceeds from the payment of life insurance benefits	1,809	0
Net cash used by investing activities	(167,124)	(59,379)
Financing activities:
Net change in deposits	104,929	288,233
Net change in other borrowings	(1,194)	(71,822)
Repurchase of common stock	(24,203)	(19,822)
Dividends paid	(23,041)	(21,648)
Net cash from financing activities	56,491	174,941
Net change in cash and cash equivalents	(51,793)	169,312
Cash and cash equivalents, beginning of period	157,014	144,956
Cash and cash equivalents, end of period	105,221	314,268
Supplemental disclosure of noncash activities:
Unrealized (loss) gain on securities available for sale	(10,200)	44,160
Market value of shares tendered in-lieu of cash to pay for exercise of equity and/or related taxes	2,604	907
Obligations incurred in conjunction with leased assets	778	1,006
Loans transferred to foreclosed assets	721	0
Life insurance receivable	1,809	7,414
Supplemental disclosure of cash flow activity:
Cash paid for interest expense	22,950	62,706
Cash paid for income taxes	$ 55,603	$ 19,600

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets:
Cash and due from banks	$ 77,063	$ 92,914
Cash at Federal Reserve and other banks	28,158	64,100
Cash and cash equivalents	105,221	157,014
Investment securities:
Marketable equity securities	2,665	2,692
Available for sale debt securities, at fair value (amortized cost of $1,857,352 and $1,883,412)	1,695,669	1,731,931
Held to maturity debt securities, at amortized cost, net of allowance for credit losses of $0	80,789	90,544
Restricted equity securities	17,250	17,250
Loans held for sale	1,880	2,695
Loans	7,311,090	7,111,087
Allowance for credit losses	(130,187)	(125,762)
Total loans, net	7,180,903	6,985,325
Premises and equipment, net	69,356	69,724
Cash value of life insurance	137,465	137,253
Accrued interest receivable	33,510	33,652
Goodwill	304,442	304,442
Other intangible assets, net	3,611	4,471
Operating leases, right-of-use	23,647	25,505
Other assets	274,355	259,565
Total assets	9,930,763	9,822,063
Deposits:
Noninterest-bearing demand	2,606,809	2,594,032
Interest-bearing	5,762,021	5,669,869
Total deposits	8,368,830	8,263,901
Accrued interest payable	7,149	8,795
Operating lease liability	25,300	27,278
Other liabilities	134,134	141,137
Other borrowings	10,519	11,713
Junior subordinated debt	41,238	41,238
Total liabilities	8,587,170	8,494,062
Commitments and contingencies (Note 9)
Shareholders’ equity:
Preferred stock, no par value: 1,000,000 shares authorized, zero issued and outstanding at June 30, 2026 and December 31, 2025	0	0
Common stock, no par value: 50,000,000 shares authorized; 31,965,507 and 32,334,974 issued and outstanding at June 30, 2026 and December 31, 2025, respectively	674,014	682,362
Retained earnings	771,368	740,244
Accumulated other comprehensive loss, net of tax	(101,789)	(94,605)
Total shareholders’ equity	1,343,593	1,328,001
Total liabilities and shareholders’ equity	$ 9,930,763	$ 9,822,063