Business
TriCo Bancshares Reports First Quarter 2026 Net Income of $33.7 Million, Diluted EPS of $1.04
1Q2026 Financial Highlights Net income was $33.7 million or $1.04 per diluted share as compared to $33.6 million or $1.03 per diluted share in the trailing
About this update from Trico Bancshares
[{"type":"text","content":"\n1Q2026 Financial Highlights\n\n\n\nNet income was $33.7 million or $1.04 per diluted share as compared to $33.6 million or $1.03 per diluted share in the trailing quarter, and an increase of $7.3 million or 27.8% from the first quarter of 2025\n\n\n\nNet interest income (FTE) was $91.5 million, a decrease of $1.0 million or 1.1% over the trailing quarter; net interest margin (FTE) was 4.07%, an increase of 5 basis points over 4.02% in the trailing quarter\n\n\n\nLoan balances decreased $42.9 million or 2.4% (annualized) from the trailing quarter and increased $247.4 million or 3.6% from the same quarter of the prior year\n\n\n\nDeposit balances increased $139.7 million or 6.8% (annualized) from the trailing quarter and increased $198.3 million or 2.4% from the same quarter of the prior year\n\n\n\nAverage non-interest bearing deposits grew by 1.5% year over year and were 30.6% of total deposits at quarter end\n\n\n\nYield on average earning assets was 5.26%, an increase of 3 basis points over the 5.23% in the trailing quarter; yield on average loans was 5.78%, an increase of 1 basis point over the 5.77% in the trailing quarter\n\n\n\nThe average cost of total deposits was 1.26%, a decrease of 3 basis points as compared to 1.29% in the trailing quarter, and a decrease of 17 basis points from 1.43% in the same quarter of the prior year\n\n\n\n \n\n\n CHICO, Calif.--(BUSINESS WIRE)--\nTriCo Bancshares (NASDAQ: TCBK):\n\n\n\n\nExecutive Commentary:\n\n\n\n\n \n\n\n\n\n“Our results for the first quarter of 2026 continue to demonstrate TriCo's stability and ability to operate effectively under various and changing economic environments. Deposit growth was strong and new loan originations were generally consistent with expectations while we continue to focus on managing credit quality within the loan portfolio. In addition, the deployment of capital through share repurchase activities will continue to benefit our financial results” said Rick Smith, Chairman and CEO.\n\n\n\n\n \n\n\n\n\nPeter Wiese, EVP and CFO added, “Continued expense discipline benefited quarterly results. While total revenue contracted slightly due to the shorter day count in the first quarter as compared to the trailing quarter, both our net interest margin and efficiency ratio incrementally improved. Consistent with previous guidance, we anticipate that future r...