TriCo Bancshares Q1 net income $35.8M, EPS $1.07; deposits decline 3.6% QoQ

TRICO BANCSHARES /

2023-Q1 EPS reported $1.07 revenue$11,197,000

Net income $35.8M vs $36.3M QoQ and $20.4M YoY; diluted EPS $1.07 vs $1.09 QoQ and $0.67 YoY.
Net interest margin 4.21%, down 13 bps QoQ; deposit cost 0.25% (cycle-to-date beta 4.42%).
Deposits fell $303M (-3.6% QoQ) to $8.03B; loan-to-deposit ratio rose to 80.0% from 77.4%.
Non-PPP loans grew 10.8% YoY to $6.42B; credit quality strong with NPAs 0.20% of assets.
Primary liquidity $4.41B (54.9% of deposits); no brokered deposits used.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TRICO BANCSHARES / reported first quarter 2023 results: net income $35.8 million, EPS $1.07.

Period: first quarter 2023
Net income: $35.8 million
EPS: $1.07
Result: preliminary results

Exact text from the filing

TriCo Bancshares (NASDAQ: TCBK) (the “Company”), parent company of Tri Counties Bank, today announced net income of $35.8 million for the quarter ended March 31, 2023, compared to $36.3 million during the trailing quarter ended December 31, 2022, and $20.4 million during the quarter ended March 31, 2022. Diluted earnings per share were $1.07 for the first quarter of 2023, compared to $1.09 for the fourth quarter of 2022 and $0.67 during the first quarter of 2022.

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Source: SEC EDGAR

accession 0000356171-23-000026

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