Trico Bancshares · NASDAQ:TCBK
Trico Bancshares — Investor Presentation (April 2025)
36 slides from Trico Bancshares's investor presentation, April 2025
Slide 1: Investor Presentation First Quarter 2025
Investor Presentation Richard P. Smith, President & Chief Executive Officer Daniel K. Bailey, EVP & Chief Banking Officer First Quarter 2025 John S. Fleshood, EVP & Chief Operating Officer Peter G. Wiese, EVP & Chief Financial Officer Investor Presentation | First Quarter 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement The statements contained herein that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on us. Such statements involve inherent risks and uncertainties, many o
Slide 3: Executive Team
Executive Team Rick Smith Dan Bailey Craig Carney John Fleshood Bret Funderburgh Greg Gehlmann President & EVP EVP EVP SVP SVP Chief Executive Officer Chief Banking Officer Chief Credit Officer Chief Operating Officer Deputy Chief General Counsel Credit Officer Judi Giem Jason Levingston Scott Myers
Slide 4: Select Recent Awards
Select Recent Awards Forbes Magazine Sacramento Business Journal S&P Global Market Intelligence California America’s Best Banks Best Places to Work Top Community Bank with Farmworker Foundation 2024, 2025 2024 $3 billion to $10 billion in assets Corporate Partner of the Year 2022, 2023 2024 Sacramen
Slide 5: Most Recent Quarter Highlights
Most Recent Quarter Highlights Pre-tax pre-provision ROAA and ROAE were 1.61% and 12.64%, respectively, for the quarter ended March 31, Operating Leverage 2025, and 1.71% and 14.38%, respectively, for the same quarter in the prior year. Our efficiency ratio was 60.4% for the quarter ended March
Slide 6: Company Overview
Company Overview Nasdaq: TCBK Headquarters: Chico, California Stock Price*: $39.97 Market Cap.: $1.31 Billion Asset Size: $9.82 Billion Loans: $6.82 Billion Deposits: $8.21 Billion Bank Branches: 68 ATMs: 84 Bank ATMs, with access to ~ 40,000 in network Market Area: TriCo currently serves 31 countie
Slide 7: Positive Earnings Track Record
Positive Earnings Track Record 2020 March 2022 Elevated ACL Provisioning Acquired Valley Republic Bancorp $60 $1.20 Associated with COVID ($1.4B assets) Related Risks $50 $1.00 $40 $0.80 Qtrly EPS (diluted) Earnings (in Millions) $30 $0.60 $20 $0.40 $10 $0.20 $0 $0.00 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q
Slide 8: Shareholder Returns
Shareholder Returns Dividends per Share: 10% CAGR* Return on Avg. Shareholder Equity $1.32 $1.32 12.10% 11.67% Q1 Q2 Q3 Q4 $1.20 10.49% 10.65% $1.25 $1.10 9.57% $1.00 $0.33 $0.88 $0.30 8.54% $0.82 $0.30 $1.00 $0.25 7.18% $0.22 $0.33 $0.75 $0.22 $0.30 $0.25 $0.30 $0.22 $0.22 $0.33 $0.30 $0.50 $0.22 $
Slide 9: Deposits
Deposits 9 Investor Presentation | First Quarter 2025
Slide 10: Liability Mix: Strength in Funding
Liability Mix: Strength in Funding Liability Mix 3/31/2025 Loans to Core Deposits (%) Borrowings & Other TCBK Peers Subordinated 120 liabilities, Debt, 2.3% 1.9% Time 100 Deposits, 80 87.7 87.7 87.2 13.0% 86.6 86.5 86.5 84.0 80.4 79.5 76.5 60 72.1 69.1 66.4 40 20 Non Interest- 0 bearing Demand 2022
Slide 11: Deposits: Strength in Cost of Funds
Deposits: Strength in Cost of Funds Mix of Demand & Savings 9,000 $8,714 $8,757 $8,656 $8,329 $8,205 $8,026 $8,095 $8,010 $7,988 $8,050 $8,037 $8,088 8,000 $7,834 15.1% as % of Total 7,000 $3,583 $3,604 $3,678 $2,549 $2,539 $2,600 $2,557 $2,548 Accounts, $3,502 $3,073 $2,858 $2,723 $3,237 84.9% 6,00
Slide 12: Deposits: CD Balance and Maturity Composition
Deposits: CD Balance and Maturity Composition CD Growth CD Maturities 5.00% 4.50% $600 3.89% 4.00% $1,000.00 4.31% 4.50% 3.58% 4.26% 4.15% 4.05% $500 3.50% 3.04% 4.00% 3.00% 3.63% 3.69% $400 $800.00 2.50% 3.50% 3.22% $300 $638 1.91% 2.00% 3.00% 2.76% $200 1.50% $600.00 $338 1.00% 2.50% $1,074 $1,063
Slide 13: Deposits: Interest Bearing Demand and Savings
Deposits: Interest Bearing Demand and Savings Interest Bearing Demand and Savings Int-Bearing Demand & Savings by Wtd Avg Rate $5,000 1.80% 1.66% 1.66% $4,500 1.55% 1.60% 1.51% 1.50% $4,000 1.37% 1.40% $1,300 1.25% $1,197 $3,500 $1,035 $921 1.20% $3,000 1.02% $103 1.00% $2,500 <=0.01% 0.01% - 2.0% 2
Slide 14: Loans and Credit Quality
Loans and Credit Quality 14 14 Investor Presentation | First Quarter 2025
Slide 15: Loan Portfolio and Yield
Loan Portfolio and Yield Total Loans Loan Yield $6,795 $6,769 $6,802 $6,743 $6,769 $6,823 $6,686 $6,450 $6,000 5.82% 5.83% 6.00% 5.79% 5.78% 5.72% 5.71% 5.52% $5,000 5.44% 5.44% 5.32% $4,917 5.24% $4,763 5.16% $4,000 $4,307 5.00% $4,022 5.02% 4.97% 4.86% $3,000 $3,015 $2,760 $2,523 $2,000 4.00% $1,0
Slide 16: Gross Production vs. Payoff
Gross Production vs. Payoff Originations and net loan growth Slower pace of originations Q4’24 and Q1’25 originations in 2022 were supportive of the commensurate with market rate outpaced prior year Q4’23 and positive mix shift in earning changes, liquidity management, Q1’24, respectively. assets an
Slide 17: Diversified Loan Portfolio
Diversified Loan Portfolio CRE Non-Owner Occupied by Collateral Type Other (22 Retail Types) 24% 25% Mixed Use - Retail 7% Office Light 21% Industrial 9% Hotel/Motel 14% CRE Owner Occupied by Collateral Type Gas Station Other (17 19% Types) 29% Light Industrial 18% Warehouse 9% Retail Office 10% 15%
Slide 18: Office RE Collateral
Office RE Collateral California Office Secured by Region Regions by Collateral Code Regions by Occupancy Type Graph circle size represent total loan Commitments in the Region; regional assignment based upon ZIP code of collateral 18 Investor Presentation | First Quarter 2025
Slide 19: CRE Collateral Values
CRE Collateral Values Distribution by LTV (1) 100% LTV Range 90% <= 60% > 60% - 75% 80% > 75% 80% 76% 77% 70% 72% 60% 61% 58% 50% 54% 51% 45% 40% 42% 39% 39% 30% 27% 20% 24% 20% 20% 10% 1% 3% 0% 0% 0% 3% 1% 7% 0% Retail Building Office Building Hotel/Motel Light Industrial Mixed Use - Retail Other M
Slide 20: Unfunded Loan Commitments
Unfunded Loan Commitments Outstanding Principal ($MM) HELOCs – by vintage, with weighted avg. coupon (8.15% total WAC) Unfunded Commitment ($MM) 10.00% 8.66% 8.50% $225 8.41% 8.35% 8.32% 9.00% 7.94% 7.84% 7.78% 7.96% 8.17% 8.02% 7.95% 7.79% 8.14% $200 8.00% 6.47% $175 7.00% $150 6.00% $170 $125 5.00
Slide 21: C&I Utilization
C&I Utilization C&I Utilization by NAICS Industry: 1Q-2025 Utilization has remained stable Outstanding (mln) Unfunded (mln) $179 throughout the rising rate environment 20000% C&I yields are generally tied to $139 15000% $109 $99 changes in the Prime Rate. 10000% $65 $61 $67 $69 $45 $54 $44 Pai
Slide 22: C&I and Ag Production Utilization
C&I and Ag Production Utilization C&I and Ag Production Utilization by NAICS Industry: 1Q-2025 Agriculture NAICS Segments 20000% Outstanding (mln) Unfunded (mln) $181 Other $151 14% $139 15000% Rice $122 $109 Farming Tree Nut $99 6% Farming 10000% $76 Fruit & Tree 36% $65 $61 $67 Nut $56 $44 $45 8%
Slide 23: Loan Yield Composition: Adjustable and Floating Rate
Floating 13% Fixed 37% Loan Yield Composition: Adjustable and Floating Rate 63% Adjustable + Floating 99% of Floating $3,421MM Adjustable, Adjustable benchmarked to Prime predominantly benchmarked 50% to 5 Year Treasury 1,000 9.00% 900 8.11% 8.00% 800 7.04% 7.00% 6.66% 6.84% 6.83% 6.89% 6.57% 700 6.
Slide 24: Adjustable Rate Loans
Adjustable Rate Loans $423 Quarter-over-quarter change 6.48% 5.65% $96 5.90% ($215) $3,421 $3,421 ($41) 6.47% ($25) ($7) 5.28% $3,358 5.28% WAR WAR 5.21% WAR $3,254 Scaled to $3,200MM 5.00% WAR 12/31/2024 Originations Payoffs Paydowns 3/31/2025 $3,600 5.40% 5.28% $3,500 5.30% 5.21% $3,400 5.20% $3,3
Slide 25: Loan Yield Composition: Fixed Rate Loans
Floating 13% Fixed 37% Loan Yield Composition: $2,516MM Fixed Rate Loans total Fixed 4.87% Wtd Avg Rate Adjustable 50% $1,000 7.00% $896 $900 5.90% 6.00% 5.46% $800 5.31% 5.33% 5.00% $700 4.60% 4.33% 4.12% $600 4.00% $436 $500 $381 $399 3.00% $400 $300 $375 2.00% $200 $179 $126 $99 1.00% $37 $100 $6
Slide 26: Fixed Rate Loans
Fixed Rate Loans $2,650 5.00% $2,600 4.87% 4.90% 4.82% $178 $2,550 4.80% 4.72% Includes principal amortization as $2,500 4.70% well as transfers 6.61% 5.10% of loans out of $2,450 4.60% construction $2,400 4.50% ($121) Fixed Rate Loans WAR $2,592 $41 7.06% 5.70% $2,516 $2,520 ($23) $2,516 ($134) ($2
Slide 27: Allowance for Credit Losses
Allowance for Credit Losses Drivers of Change under CECL $132,000 $1,022 $4,878 $130,000 $128,000 ($3,237) $128,423 1.88% of Total Loans $126,000 $394 $125,366 Gross charge-offs Increases in Growth driven by Reduced reserve 1.85% $0.374 million reserves attributed CRE and rates due to $124,0
Slide 28: Allowance for Credit Losses
Allowance for Credit Losses Allocation of Allowance by Segment 28 Investor Presentation | First Quarter 2025
Slide 29: Risk Grade Migration
Risk Grade Migration Watch Special Mention Substandard 20.0% Pass, Pass, Pass, 82.2% 82.0% Pass, Pass, 82.6% 83.5% 83.6% 14.5% 14.4% 14.0% 13.8% 13.3% 1.6% 1.6% 1.6% 1.5% 1.6% 1.6% 1.8% 1.7% 2.0% 1.1% 0.0% 1Q-2024 2Q-2024 3Q-2024 4Q-2024 1Q-2025 Zero balance in Doubtful and Loss 29 Investor Presenta
Slide 30: Asset Quality
Asset Quality Non-Performing Assets as a % of Total Assets TCBK Peers 0.60% 0.57% 0.58% The Bank continues to actively and 0.53% 0.53% 0.55% 0.48% aggressively address potential credit 0.44% 0.48% issues with short resolution timelines. 0.39% 0.35% 0.37% 0.35% 0.40% 0.32% Over the past two years
Slide 31: Financials
Financials 31 31 Investor Presentation | First Quarter 2025
Slide 32: Net Interest Income (NII) and Margin (NIM)
Net Interest Income (NII) and Margin (NIM) 32 Investor Presentation | First Quarter 2025
Slide 33: Net Interest Income (NII) and Margin (NIM)
Net Interest Income (NII) and Margin (NIM) 33 Investor Presentation | First Quarter 2025
Slide 34: Current Operating Metrics
Current Operating Metrics Net Interest Margin (FTE) Efficiency Ratio 4.47% 3.96% 3.88% 3.96% 3.58% 3.71% 3.73% 59.7% 58.4% 59.1% 60.4% 53.2% 53.0% 55.8% 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025 PPNR as % of Average Assets ROAA 1.43% 1.43% 1.94% 1.91% 1.97% 1.87% 1.28% 1.
Slide 35: Well Capitalized
Well Capitalized Tier 1 Capital Ratio CET1 Ratio 14.4% 14.2% 14.1% 13.3% 13.2% 13.2% 13.3% 14.0% 14.0% 12.9% 12.9% 12.2% 12.4% 11.7% 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025 Total Risk Based Capital Tangible Capital Ratio 15.7% 15.8% 10.6% 15.1% 15.2% 15.4% 14.7% 9.7% 9.
Slide 36: Our Mission, Core Values, Team Ethos
Our Mission Core Values Team Ethos Tri Counties Bank exists for Trust We are one team, aligned, just one purpose: to improve Respect customer-focused and the financial success and collaborative to achieve well-being of our shareholders, Integrity next-level performance. customers, communities and Co
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