TriCo Bancshares Reports Third Quarter 2026 Net Income of $38.0 Million, Diluted EPS of $1.18 and Declares $0.36 Cash Dividend

“We are very pleased with our strong third-quarter results. As we prepare for our merger with First Hawaiian Bank, we remain focused on serving our customers and delivering growth and strong financial results. This performance demonstrates the value Tri Counties Bank will bring to the combined bank. We are excited about the future and look forward to continuing our journey as ‘California’s Local Bank,’” said Rick Smith, Chairman and CEO.

Smith added, “I am deeply grateful to our customers, communities, vendors, employees, and shareholders for their enduring support, loyalty, and contributions throughout our 51-year history. It is a privilege to serve you, and we look to the future with confidence that Tri Counties Bank will continue to be a significant force in California banking.”

The financial results reported in this document are preliminary and unaudited. Final financial results and other disclosures will be reported on Form 10-Q for the period ended September 30, 2026, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information.

Three months ended

(dollars and shares in thousands, except per share data)

September 30,
2026

June 30,
2026

$ Change

% Change

Net interest income

$

96,546

$

93,630

$

2,916

3.1

%

Benefit from (provision for) credit losses

1,881

(2,655

)

4,536

(170.8

)%

Noninterest income

20,166

18,246

1,920

10.5

%

Noninterest expense

(66,483

)

(62,925

)

(3,558

)

5.7

%

Provision for income taxes

(14,143

)

(12,127

)

(2,016

)

16.6

%

Net income

$

37,967

$

34,169

$

3,798

11.1

%

Diluted earnings per share

$

1.18

$

1.06

$

0.12

11.3

%

Dividends per share

$

0.36

$

0.36

$

—

—

%

Average common shares

31,966

31,924

42

0.1

%

Average diluted common shares

32,118

32,107

11

—

%

Return on average total assets

1.50

%

1.37

%

Return on average equity

11.08

%

10.15

%

Efficiency ratio

56.96

%

56.25

%

(dollars and shares in thousands, except per share data)

Three months ended
September 30,

$ Change

% Change

2026

2025

Net interest income

$

96,546

$

89,555

$

6,991

7.8

%

Benefit from (provision for) credit losses

1,881

(670

)

2,551

(380.7

)%

Noninterest income

20,166

18,007

2,159

12.0

%

Noninterest expense

(66,483

)

(60,424

)

(6,059

)

10.0

%

Provision for income taxes

(14,143

)

(12,449

)

(1,694

)

13.6

%

Net income

$

37,967

$

34,019

$

3,948

11.6

%

Diluted earnings per share

$

1.18

$

1.04

$

0.14

13.5

%

Dividends per share

$

0.36

$

0.36

$

—

—

%

Average common shares

31,966

32,542

(576

)

(1.8

)%

Average diluted common shares

32,118

32,723

(605

)

(1.8

)%

Return on average total assets

1.50

%

1.36

%

Return on average equity

11.08

%

10.47

%

Efficiency ratio

56.96

%

56.18

%

(dollars and shares in thousands, except per share data)

Nine months ended
September 30,

2026

2025

$ Change

% Change

Net interest income

$

281,402

$

258,616

$

22,786

8.8

%

Provision for credit losses

(4,099

)

(9,063

)

4,964

(54.8

)%

Noninterest income

55,444

51,170

4,274

8.4

%

Noninterest expense

(188,460

)

(181,140

)

(7,320

)

4.0

%

Provision for income taxes

(38,466

)

(31,659

)

(6,807

)

21.5

%

Net income

$

105,821

$

87,924

$

17,897

20.4

%

Diluted earnings per share

$

3.29

$

2.67

$

0.62

23.2

%

Dividends per share

$

1.08

$

1.02

$

0.06

5.9

%

Average common shares

32,028

32,749

(721

)

(2.2

)%

Average diluted common shares

32,204

32,929

(725

)

(2.2

)%

Return on average total assets

1.42

%

1.20

%

Return on average equity

10.44

%

9.24

%

Efficiency ratio

55.95

%

58.47

%

Trailing Quarter Balance Sheet Change

Ending balances

September 30,
2026

June 30,
2026

Annualized

% Change

(dollars in thousands)

$ Change

Total assets

$

9,978,516

$

9,930,763

$

47,753

1.9

%

Total loans

7,410,189

7,311,090

99,099

5.4

Total investments

1,633,267

1,796,373

(163,106

)

(36.3

)

Total deposits

8,443,433

8,368,830

74,603

3.6

Total other borrowings

—

10,519

(10,519

)

(100.0

)

Average Trailing Quarter Balance Sheet Change

Quarterly average balances for the period ended

September 30,
2026

June 30,
2026

$ Change

Annualized

% Change

(dollars in thousands)

Total assets

$

10,030,832

$

9,967,548

$

63,284

2.5

%

Total loans

7,324,950

7,176,963

147,987

8.2

Total investments

1,718,243

1,856,574

(138,331

)

(29.8

)

Total deposits

8,475,756

8,409,202

66,554

3.2

Total other borrowings

10,102

11,340

(1,238

)

(43.7

)

Year Over Year Balance Sheet Change

Ending balances

As of September 30,

$ Change

% Change

(dollars in thousands)

2026

2025

Total assets

$

9,978,516

$

9,878,836

$

99,680

1.0

%

Total loans

7,410,189

7,006,824

403,365

5.8

Total investments

1,633,267

1,856,133

(222,866

)

(12.0

)

Total deposits

8,443,433

8,334,461

108,972

1.3

Total other borrowings

—

17,039

(17,039

)

(100.0

)

Three months ended

(dollars in thousands)

September 30,
2026

June 30,
2026

Change

% Change

Interest income

$

124,108

$

120,986

$

3,122

2.6

%

Interest expense

(27,562

)

(27,356

)

(206

)

0.8

%

Fully tax-equivalent adjustment (FTE) ⁽¹⁾

259

259

—

—

%

Net interest income (FTE)

$

96,805

$

93,889

$

2,916

3.1

%

Net interest margin (FTE)

4.16

%

4.11

%

Acquired loans discount accretion, net:

Amount (included in interest income)

$

1,177

$

990

$

187

18.9

%

Net interest margin less effect of acquired loan discount accretion⁽¹⁾

4.11

%

4.07

%

0.04

%

Three months ended
September 30,

(dollars in thousands)

2026

2025

Change

% Change

Interest income

$

124,108

$

119,987

$

4,121

3.4

%

Interest expense

(27,562

)

(30,432

)

2,870

(9.4

)%

Fully tax-equivalent adjustment (FTE) ⁽¹⁾

259

262

(3

)

(1.1

)%

Net interest income (FTE)

$

96,805

$

89,817

$

6,988

7.8

%

Net interest margin (FTE)

4.16

%

3.92

%

Acquired loans discount accretion, net:

Amount (included in interest income)

$

1,177

$

996

$

181

18.2

%

Net interest margin less effect of acquired loan discount accretion⁽¹⁾

4.11

%

3.88

%

0.23

%

Nine months ended
September 30,

(dollars in thousands)

2026

2025

Change

% Change

Interest income

$

362,921

$

350,425

$

12,496

3.6

%

Interest expense

(81,519

)

(91,809

)

10,290

(11.2

)%

Fully tax-equivalent adjustment (FTE) ⁽¹⁾

778

791

(13

)

(1.6

)%

Net interest income (FTE)

$

282,180

$

259,407

$

22,773

8.8

%

Net interest margin (FTE)

4.12

%

3.84

%

Acquired loans discount accretion, net:

Amount (included in interest income)

$

3,553

$

4,238

$

(685

)

(16.2

)%

Net interest margin less effect of acquired loan discount accretion⁽¹⁾

4.06

%

3.78

%

0.28

%

Three months ended

Three months ended

Three months ended

September 30, 2026

June 30, 2026

September 30, 2025

(dollars in thousands)

Average

Balance

Income/

Expense

Yield/

Rate

Average

Balance

Income/

Expense

Yield/

Rate

Average

Balance

Income/

Expense

Yield/

Rate

Assets

Loans

$

7,324,950

$

108,371

5.87

%

$

7,176,963

$

104,595

5.85

%

$

6,971,860

$

101,004

5.75

%

Investments-taxable

1,588,747

13,174

3.29

%

1,726,567

14,306

3.32

%

1,737,273

15,321

3.50

%

Investments-nontaxable ⁽¹⁾

129,496

1,121

3.43

%

130,007

1,124

3.47

%

132,121

1,134

3.41

%

Total investments

1,718,243

14,295

3.30

%

1,856,574

15,430

3.33

%

1,869,394

16,455

3.49

%

Cash at Fed Reserve and other banks

180,729

1,701

3.73

%

131,367

1,220

3.72

%

249,646

2,790

4.43

%

Total earning assets

9,223,922

124,367

5.35

%

9,164,904

121,245

5.31

%

9,090,900

120,249

5.25

%

Other assets, net

806,910

802,644

809,775

Total assets

$

10,030,832

$

9,967,548

$

9,900,675

Liabilities and shareholders’ equity

Interest-bearing demand deposits

$

1,930,435

$

7,236

1.49

%

$

1,915,877

$

7,067

1.48

%

$

1,850,733

$

6,649

1.43

%

Savings deposits

2,784,139

10,704

1.53

%

2,764,893

10,430

1.51

%

2,855,750

12,965

1.80

%

Time deposits

1,131,017

8,926

3.13

%

1,148,788

9,168

3.20

%

1,107,646

9,587

3.43

%

Total interest-bearing deposits

5,845,591

26,866

1.82

%

5,829,558

26,665

1.83

%

5,814,129

29,201

1.99

%

Other borrowings

10,102

1

0.04

%

11,340

7

0.25

%

17,495

3

0.07

%

Junior subordinated debt

41,238

695

6.69

%

41,238

684

6.65

%

71,477

1,228

6.82

%

Total interest-bearing liabilities

5,896,931

27,562

1.85

%

5,882,136

27,356

1.87

%

5,903,101

30,432

2.05

%

Noninterest-bearing deposits

2,630,165

2,579,644

2,547,471

Other liabilities

143,870

155,380

160,568

Shareholders’ equity

1,359,866

1,350,388

1,289,535

Total liabilities and shareholders’ equity

$

10,030,832

$

9,967,548

$

9,900,675

Net interest rate spread ^{(1) (2)}

3.50

%

3.44

%

3.20

%

Net interest income and margin ^{(1) (3)}

$

96,805

4.16

%

$

93,889

4.11

%

$

89,817

3.92

%

(1)

Fully taxable equivalent (FTE). All yields and rates are calculated using specific day counts for the period and year as applicable.

(2)

Net interest spread is the average yield earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(3)

Net interest margin is computed by calculating the difference between interest income and interest expense, divided by the average balance of interest-earning assets.

Nine months ended
September 30, 2026

Nine months ended
September 30, 2025

(dollars in thousands)

Average

Balance

Income/

Expense

Yield/

Rate

Average

Balance

Income/

Expense

Yield/

Rate

Assets

Loans

$

7,182,193

$

313,315

5.83

%

$

6,876,128

$

295,077

5.74

%

Investments-taxable

1,679,567

42,142

3.35

%

1,812,965

45,994

3.39

%

Investments-nontaxable ⁽¹⁾

129,953

3,371

3.47

%

132,690

3,426

3.45

%

Total investments

1,809,520

45,513

3.36

%

1,945,655

49,420

3.40

%

Cash at Fed Reserve and other banks

175,033

4,871

3.72

%

200,364

6,719

4.48

%

Total earning assets

9,166,746

363,699

5.30

%

9,022,147

351,216

5.20

%

Other assets, net

803,976

807,433

Total assets

$

9,970,722

$

9,829,580

Liabilities and shareholders’ equity

Interest-bearing demand deposits

$

1,899,435

$

20,687

1.46

%

$

1,828,709

$

18,946

1.39

%

Savings deposits

2,784,223

31,500

1.51

%

2,795,620

37,409

1.79

%

Time deposits

1,135,886

27,267

3.21

%

1,110,123

29,749

3.58

%

Total interest-bearing deposits

5,819,544

79,454

1.83

%

5,734,452

86,104

2.01

%

Other borrowings

10,726

9

0.11

%

42,959

1,064

3.31

%

Junior subordinated debt

41,238

2,056

6.67

%

91,196

4,641

6.80

%

Total interest-bearing liabilities

5,871,508

81,519

1.86

%

5,868,607

91,809

2.09

%

Noninterest-bearing deposits

2,587,391

2,526,280

Other liabilities

156,630

163,015

Shareholders’ equity

1,355,193

1,271,678

Total liabilities and shareholders’ equity

$

9,970,722

$

9,829,580

Net interest rate spread ^{(1) (2)}

3.44

%

3.11

%

Net interest income and margin ^{(1) (3)}

$

282,180

4.12

%

$

259,407

3.84

%

(1)

Fully taxable equivalent (FTE). All yields and rates are calculated using specific day counts for the period and year as applicable.

(2)

Net interest spread is the average yield earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(3)

Net interest margin is computed by calculating the difference between interest income and interest expense, divided by the average balance of interest-earning assets.

Three months ended

Nine months ended

(dollars in thousands)

September 30,
2026

June 30,
2026

September 30,
2025

September 30,
2026

September 30,
2025

(Reversal of) addition to allowance for credit losses on loans and leases

$

(1,731

)

$

2,585

$

730

$

3,824

$

7,918

(Reversal of) addition to reserve for unfunded loan commitments

(150

)

70

(60

)

275

1,145

Total (reversal of) additions to credit losses

$

(1,881

)

$

2,655

$

670

$

4,099

$

9,063

Three months ended

Nine months ended

(dollars in thousands)

September 30,
2026

June 30,
2026

September 30,
2025

September 30,
2026

September 30,
2025

Balance, beginning of period

$

130,187

$

127,939

$

124,455

$

125,762

$

125,366

(Benefit from) provision for credit losses on loans and leases

(1,731

)

2,585

730

3,824

7,918

Loans charged-off

(831

)

(455

)

(737

)

(2,198

)

(9,706

)

Recoveries of previously charged-off loans

530

118

123

767

993

Balance, end of period

$

128,155

$

130,187

$

124,571

$

128,155

$

124,571