TriCo Bancshares (TCBK) investor relations material

Executive summary

• Net income for Q1 2026 was $33.7 million, up 27.8% year-over-year, with diluted EPS of $1.04 and return on average assets of 1.38%.

• Net interest income (FTE) reached $91.5 million, up 10.5% year-over-year, with a net interest margin of 4.07%.

• Loan balances grew 3.6% year-over-year but declined $42.9 million sequentially; deposit balances increased 2.4% year-over-year and $139.7 million sequentially.

• Efficiency ratio improved to 54.55% from 60.42% a year ago.

• Share repurchases continued, with 447,211 shares bought for $21.6 million; 1.55 million shares remain authorized.

Financial highlights

• Total assets at $9.95 billion, total loans $7.07 billion, total deposits $8.40 billion, and market cap $1.52 billion as of March 31, 2026.

• Book value per share increased to $41.49; tangible book value per share was $31.82.

• Noninterest income grew 6.0% year-over-year; noninterest expense decreased 0.9% year-over-year.

• Dividend yield at 3.0%, with dividends per share growing at a 9% CAGR over 10 years.

• Provision for credit losses was $3.3 million, up from Q4 2025 but down from Q1 2025.

Outlook and guidance

• Management expects revenue growth to outpace expense growth, leading to positive operating leverage and PPNR expansion.

• Cautious outlook due to macroeconomic, geopolitical, and regulatory uncertainties, with focus on core deposit growth and prudent loan origination.

• No reliance on brokered deposits or FRB borrowing facilities; diversified deposit base maintained.