TriCo Bancshares Q2 net income falls 31% QoQ to $24.9M; NIM compresses 25bp to 3.96%

TRICO BANCSHARES /

2023-Q2 EPS reported $1.82 revenue$24,165,000

Net income $24.9M, down 30.5% from $35.8M in Q1; diluted EPS $0.75 vs $1.07.
Net interest margin fell 25bp to 3.96% as deposit costs rose 52bp QoQ to 0.83%.
Provision for credit losses jumped to $9.65M from $4.2M; ACL-to-loans ratio rose to 1.80%.
Nonperforming assets to total assets increased to 0.41% from 0.20% in Q1.
Loans grew $98.3M (6.1% annualized); deposits increased $69.5M; 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 three and six month periods ended June 30, 2023 results: net income $24.9 million, EPS $0.75.

Period: three and six month periods ended June 30, 2023
Net income: $24.9 million
EPS: $0.75
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 $24.9 million for the quarter ended June 30, 2023, compared to $35.8 million during the trailing quarter ended March 31, 2023, and $31.4 million during the quarter ended June 30, 2022. Diluted earnings per share were $0.75 for the second quarter of 2023, compared to $1.07 for the first quarter of 2023 and $0.93 during the second quarter of 2022.

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Source: SEC EDGAR

accession 0000356171-23-000041

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