TCBK · TriCo Bancshares

TriCo Bancshares delivered strong first quarter 2026 results, with net income rising 27.8% year-over-year to $33.7 million. Diluted EPS of $1.04 compared favorably to $0.80 in the prior year quarter, driven by expanding margins and disciplined expense management. The efficiency ratio improved to 54.55% from 60.42% in the year-ago period, reflecting management's focus on cost control. Net interest margin (FTE) expanded 34 basis points year-over-year to 4.07%, as the yield on earning assets increased while the cost of total deposits declined 17 basis points to 1.26%. Although net interest income decreased 1.1% from the trailing quarter due to two fewer days in the quarter, the underlying margin dynamics remained positive. Balance sheet trends showed deposit growth of $139.7 million (6.8% annualized) while loan balances contracted slightly by $42.9 million (2.4% annualized), resulting in a lower loan-to-deposit ratio of 84.11%. Credit quality metrics showed modest deterioration, with non-performing assets to total assets increasing to 0.77% from 0.72% in the trailing quarter, though management noted proactive risk grading and sufficient coverage. The Company remained active in capital return, repurchasing 447,211 shares at an average price of $48.30. Management expressed optimism regarding future operating leverage, anticipating revenue growth will outpace expense growth going forward.