First Hawaiian to acquire TriCo Bancshares in $63.12/share all-stock deal; Q2 prelim EPS $0.60

FIRST HAWAIIAN, INC.

• First Hawaiian to acquire TriCo Bancshares in all-stock transaction valued at $63.12 per TriCo share (2.095 FHB shares per TCBK share).
• Combined company to have ~$34B in assets, becoming 6th largest bank headquartered in Western U.S.; FHB shareholders to own ~65%.
• No branch closings expected; four TriCo directors to join FHB board; deal expected to close by end of 2026.
• Preliminary Q2 2026 net income $73.4M, diluted EPS $0.60, up from $67.8M and $0.55 in prior quarter.
• Net interest margin expanded 6 bps QoQ to 3.25%; ROAA improved to 1.23% from 1.14%.