Business
TriCo Bancshares Reports First Quarter 2025 Net Income of $26.4 Million, Diluted EPS of $0.80
1Q25 Financial Highlights Net income was $26.4 million or $0.80 per diluted share as compared to $29.0 million or $0.88 per diluted share in the trailing
About this update from Trico Bancshares
[{"type":"text","content":"\n1Q25 Financial Highlights \n\n\nNet income was $26.4 million or $0.80 per diluted share as compared to $29.0 million or $0.88 per diluted share in the trailing quarter \n\n\nNet interest margin (FTE) was 3.73% in the recent quarter, a decrease of 3 basis points over 3.76% in the trailing quarter; net interest income (FTE) was $82.8 million, a decrease of $1.5 million over the trailing quarter\n\n\nLoan balances increased $52.3 million or 3.1% (annualized) from the trailing quarter and increased $20.1 million or 0.3% from the same quarter of the prior year \n\n\nDeposit balances increased $117.8 million or 5.8% (annualized) from the trailing quarter and increased $217.7 million or 2.7% from the same quarter of the prior year\n\n\nAverage yield on earning assets was 5.15%, a decrease of 7 basis points over the 5.22% in the trailing quarter; average yield on loans was 5.71%, a decrease of 7 basis points over the 5.78% in the trailing quarter\n\n\nNon-interest bearing deposits averaged 30.7% of total deposits during the quarter\n\n\nThe average cost of total deposits was 1.43%, a decrease of 3 basis points as compared to 1.46% in the trailing quarter, and an increase of 22 basis points from 1.21% in the same quarter of the prior year\n\n\n CHICO, Calif.--(BUSINESS WIRE)--\nTriCo Bancshares (NASDAQ: TCBK):\n\nExecutive Commentary:\n\n“Our first quarter results demonstrate our continued efforts to remain focused on the core business activities of adding customers, growing deposits and originating loans. While normally a seasonally slow lending and deposit quarter, both activities were solid despite a volatile economic environment. In addition, we are proud to announce that we have completed our most recent Community Reinvestment Act (CRA) examination resulting in a rating of Outstanding,” said Rick Smith, President and CEO.\n\nPeter Wiese, EVP and CFO added, “Both net interest margin and net interest income slightly contracted during the quarter as the tail end of Federal Funds rate cuts impacted floating rate earning assets. While interest rates across the yield curve fluctuated significantly during the quarter, we expect continued incremental increases in earning asset yields as well as incremental reductions in funding costs.”\n\nSelected Financial Highlights\n\n\nFor the quarter ended March 31, 2025, the Company’s return on aver...