TCBK Q4 net income $26.1M ($0.78 EPS) down 15% QoQ; NIM narrows to 3.81%

TRICO BANCSHARES /

2023-FY EPS reported $3.52 revenue$50,088,000

Net income $26.1M vs $30.6M QoQ and $36.3M YoY; diluted EPS $0.78 vs $0.92 QoQ and $1.09 YoY.
Net interest margin 3.81% vs 3.88% QoQ and 4.34% YoY; management expects inflection by mid-2024.
Provision for credit losses $6.0M vs $4.2M QoQ; ACL to loans 1.79% vs 1.73% prior quarter.
Loan growth 5.3% YoY to $6.8B; deposits down 5.9% YoY; loan-to-deposit ratio 86.7%.
Efficiency ratio 58.71% vs 55.59% QoQ; noninterest expense up 4.1% QoQ.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TRICO BANCSHARES / reported the quarter ended December 31, 2023 results: net income $26.1 million, EPS $0.78.

Period: the quarter ended December 31, 2023
Net income: $26.1 million
EPS: $0.78
Result: reported results

Exact text from the filing

TriCo Bancshares (NASDAQ: TCBK) (the “Company”), parent company of Tri Counties Bank, today announced net income of $26.1 million for the quarter ended December 31, 2023, compared to $30.6 million during the trailing quarter ended September 30, 2023, and $36.3 million during the quarter ended December 31, 2022. Diluted earnings per share were $0.78 for the fourth quarter of 2023, compared to $0.92 for the trailing quarter and $1.09 during the fourth quarter of 2022.

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Source: SEC EDGAR

accession 0000356171-24-000003

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