TriCo Bancshares Q2 net income $29.0M, EPS $0.87; deposits up 3.1% annualized

TRICO BANCSHARES /

2024-Q2 EPS reported $1.70 revenue$25,433,000

Net income of $29.0M ($0.87 diluted EPS) vs $27.7M ($0.83) in Q1 2024 and $24.9M ($0.75) in Q2 2023.
Net interest margin (FTE) held at 3.68%, unchanged from Q1; net interest income $82.0M, down 0.9% QoQ.
Deposits rose $62.6M (3.1% annualized) to $8.05B; loan-to-deposit ratio improved to 83.8% from 85.1%.
Provision for credit losses was $0.4M, down sharply from $4.3M in Q1; ACL ratio stable at 1.83%.
Tangible book value per share grew to $26.13 from $23.30 a year ago; $0.33 quarterly dividend declared.

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