Trico Bancshares Q1 net income rises 28% yr/yr

Trico Bancshares

23/04/2026 11:43

Overview

U.S. regional bank's preliminary Q1 net income and EPS rose 28% and 30% yr/yr

Net interest income grew 10.5% yr/yr, but declined 1.1% from prior quarter

Company repurchased 447,211 shares during the quarter

Outlook

Company anticipates future revenue growth will outpace expense growth, leading to PPNR expansion

TriCo Bancshares expects continued economic expansion for borrowers through remainder of 2026

Company plans to use deposit growth and investment security cash flows to support loan growth

Result Drivers

NET INTEREST INCOME DECLINE - Co said net interest income fell 1.1% from prior qtr, mainly due to lower interest income on earning assets and a shorter day count

EXPENSE DISCIPLINE - Co said continued expense discipline benefited results, with noninterest expense down 1.3% from prior qtr and efficiency ratio improving slightly

LOAN AND DEPOSIT TRENDS - Loan balances decreased $42.9 mln or 2.4% annualized from prior qtr as origination volume contracted and payoffs were elevated; deposit balances rose $139.7 mln or 6.8% annualized

Company press release: ID:nBwb35v1ya

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$1.04
Q1 Net Income
$33.69 mln
Q1 Net Interest Income
$91.23 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for Trico Bancshares is $55.00, about 11.4% above its April 22 closing price of $49.36

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)