10-Q · May 8, 2026
TriCo Bancshares surpassed consensus estimates in Q1 2026 with diluted EPS of $1.04, up from $0.80 a year ago. Revenue also showed solid growth, increasing to $108.3 million from $101.4 million in Q1 2025, reflecting a…
Earnings analysis · 10-Q
TCBK earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
TriCo reported Q2 2026 diluted EPS of $1.06, improving from $1.04 in Q1 2026 and $0.84 a year earlier; reported revenue was $111.876 million. The balance-sheet profile remains favorable for asset repricing, with $7.3…
Read full summary
TriCo reported Q2 2026 diluted EPS of $1.06, improving from $1.04 in Q1 2026 and $0.84 a year earlier; reported revenue was $111.876 million. The balance-sheet profile remains favorable for asset repricing, with $7.3 billion of loans, including $5.0 billion of adjustable-rate loans, while the company had no brokered deposits or FHLB borrowings outstanding. However, the pending First Hawaiian mergers introduce substantial execution and regulatory risks, and interest-rate simulations show meaningful downside to NII and market value of equity under adverse scenarios.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.06
What stood out
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EPS improved sequentially and year over year
Diluted EPS was $1.06 in Q2 2026, up from $1.04 in Q1 2026 and $0.84 in Q2 2025, representing increases of $0.02 sequentially and $0.22 year over year.
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Loan portfolio provides rate sensitivity
The loan portfolio totaled approximately $7.3 billion at June 30, 2026, including $5.0 billion of adjustable-rate loans and $1.0 billion floating based on the Wall Street Prime index.
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New loan yields rose sequentially
Loan production carried a 6.50% weighted-average coupon in Q2 2026, compared with 6.33% in Q1 2026 and 6.87% in Q2 2025.
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Deposit mix supports funding economics
Non-interest-bearing deposits represented 31.1% of total deposits, while the cost of interest-bearing deposits was 1.83% and the cost of total deposits was 1.27% during the quarter.
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No brokered deposits or FHLB debt
The company had no FHLB borrowings outstanding as of or during the quarter ended June 30, 2026, and management stated it had not used brokered deposits during 2026 or 2025.
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Share repurchases remained limited
The company repurchased 33,379 shares at an average price of $53.32 in June 2026; 1,552,789 shares remained available under the repurchase plan at month-end.
What to watch
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Merger regulatory approval risk
The pending mergers require approvals or non-objections from the Federal Reserve Board, FDIC, Hawaii DFI and California DFPI, among others. The filing states approvals could be delayed, denied or conditioned in ways that impose additional costs or limit revenues.
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Merger failure could be costly
If the mergers are not completed, TriCo could face adverse market, customer and employee reactions, litigation and lost opportunities; under certain termination circumstances, either party may owe an $80 million termination fee.
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Material interest-rate exposure
The company’s interest-rate simulations show that a 300-basis-point rate increase would reduce estimated net interest income by 5.2% and market value of equity by 3.5%; a 300-basis-point decrease would increase NII by 2.1% but reduce MVE by 10.2%.
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Integration and operational disruption
The filing warns that merger integration could cause loan and deposit attrition, service interruptions, processing errors, data loss or cybersecurity incidents, as well as additional costs; the potential duration of these effects is described as undetermined.
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Deposit contraction could raise funding costs
Management may rely on borrowing facilities or brokered deposits if deposit balances contract, although no brokered deposits were used during 2026 or 2025 and no FHLB borrowings were outstanding at June 30, 2026.
Management's outlook
No quantitative revenue or EPS outlook was provided in the available 10-Q text. Management stated it intends to continue deploying excess liquidity and/or migrating earning assets into higher-yielding categories, but did not provide numeric guidance.
Earlier filings 4
10-K · March 2, 2026
TriCo Bancshares (TCBK) reported FY2025 net income of $121.6M (up 5.8% YoY) and diluted EPS of $3.70 (up 6.9% YoY), driven by higher net interest income (FTE net interest income $351.9M, +5.8%) and improved net interest…
10-Q · November 10, 2025
TriCo Bancshares reported Q3 2025 diluted EPS of $1.04 and net income of $34.0M on total revenue of $107.562M (net interest income $89.555M + noninterest income $18.007M). Revenue and EPS improved versus Q3 2024…
10-Q · August 11, 2025
TriCo Bancshares reported Q2 2025 total revenue (net interest income + non-interest income) of $103,609,000 (NII $86,519,000; non-interest income $17,090,000), up $5,746,000 (5.9%) versus Q2 2024. Net income and diluted…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.