falseTriCo Bancshares000035617100003561712023-07-262023-07-26

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
____________________
FORM 8-K
_________________________________________
Current report pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 26, 2023
_______________________
ntricobancshares_logo.jpg
(Exact name of registrant as specified in its charter)
_______________________
California0-1066194-2792841
(State or other jurisdiction of
incorporation or organization)		(Commission File No.)(I.R.S. Employer
Identification No.)
63 Constitution Drive

Chico,California95973
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (530) 898-0300
_____________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
Symbol(s)		Name of each exchange
on which registered
Common Stock, no par valueTCBKNasdaq
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02    Results of Operations and Financial Condition
On July 26, 2023, TriCo Bancshares (the "Company") announced its unaudited financial results as of and for the three and six month periods ended June 30, 2023. A copy of the press release is attached as Exhibit 99.1 to this to this Form 8-K and is incorporated herein by reference.

Item 7.01    Regulation FD Disclosure
The executive officers of the Company intend to use the materials filed herewith, in whole or in part, in one or more presentations, discussions or meetings with investors. A copy of the investor presentation is attached hereto as Exhibit 99.2.

Item 9.01    Financial Statements and Exhibits
(d) Exhibits
99.1    Press release dated July 26, 2023
99.2     Investor Presentation

The information furnished under Item 2.02, Item 7.01 and Item 9.01 of this Current Period on Form 8-K, including the exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section, nor shall it be deemed incorporated by reference in any registration statement or other filings of TriCo Bancshares under the Securities Act of 1933, as amended, except as shall be set forth by specific reference in such filing.




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
TRICO BANCSHARES
Date: July 26, 2023
/s/ Peter G. Wiese
Peter G. Wiese, Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)


Exhibit 99.1



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Contact: Peter G. Wiese, EVP & CFO, (530) 898-0300
For Immediate Release
TRICO BANCSHARES ANNOUNCES SECOND QUARTER 2023 RESULTS
Notable Items for Second Quarter 2023
•Net income was $24.9 million compared to $35.8 million in the trailing quarter, and compared to $31.4 million in the same quarter of the prior year; Pre-tax pre-provision net revenue was $43.1 million compared to $53.2 million in the trailing quarter, and compared to $45.2 million in the same quarter of the prior year
•Loan balances increased by $98.3 million or 6.1% (annualized) versus the prior quarter and deposit balances increased by $69.5 million or 3.5% (annualized) versus the prior quarter and the Bank has not utilized brokered deposits or FRB borrowing facilities
•The average cost of total deposits was 0.58% for the quarter as compared to 0.25% in the trailing quarter and 0.04% in the same quarter of the prior year and, as a result, the Company's total cost of deposits have increased 54 basis points since FOMC rate actions began, which translates to a cycle-to-date deposit beta of 10.8%
•Balance sheet flexibility remains anchored in readily accessible sources of liquidity including undrawn borrowing capacities, on-balance sheet cash and unpledged investment securities totaling nearly $4.4 billion
•Overall credit quality remains within historical norms as non-performing assets represent approximately 0.41% of total assets and the ratio of classified loans to total loans remains below one percent
•Average yield on earning assets was 4.78%, an increase of 14 basis points over the 4.64% in the trailing quarter; net interest margin was 3.96%, a change of 25 basis points from 4.21% in the trailing quarter
•Operations, as evidenced by the increase in the efficiency ratio from 50.3% in the trailing quarter to 58.7% in the current quarter, were impacted by a variety of both recurring and non-recurring activities
"We were pleased by our ability to grow deposits during the quarter while doing so without the use of brokered funding sources and at rates that were favorable to the Bank. Although nonaccrual and classified loans have increased, they remain below historical averages. Through the Bank's ongoing portfolio review processes and active management, we have not identified any evidence of systemic risk," explained Rick Smith, President and Chief Executive Officer. Peter Wiese, EVP and Chief Financial Officer added, "As deposit balances grew and repayment of principal from the investment security portfolio accelerated, excess proceeds were utilized to reduce the balance and costs associated with short-term borrowing. As we look to the second half of 2023, margin preservation and expense control will be our focused priorities."
CHICO, CA – (July 26, 2023) – 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.
Financial Highlights
Performance highlights for the Company as of or for the three and six months ended June 30, 2023, included the following:
•For the quarter ended June 30, 2023, the Company’s return on average assets was 1.01%, while the return on average equity was 8.98%.
•Deposit balances for the quarter ended June 30, 2023, increased by $69.5 million as compared to March 31, 2023. Loan growth for the quarter exceeded deposit growth, resulting in the loan to deposit ratio increasing to 80.5% as of June 30, 2023, as compared to 80.0% as of the trailing quarter.
•The efficiency ratio was 54.4% and 55.67% for the six months ended June 30, 2023 and 2022, respectively.
•The provision for credit losses for loans and debt securities was approximately $9.7 million during the quarter ended June 30, 2023, as compared to a provision for credit losses of $4.2 million during the trailing quarter ended March 31, 2023, and a provision for credit losses of $2.1 million for the three-month period ended June 30, 2022.
•The allowance for credit losses to total loans was 1.80% as of June 30, 2023, compared to 1.69% as of the trailing quarter end, and 1.60% as of June 30, 2022. Non-performing assets to total assets were 0.41% on June 30, 2023, as compared to 0.20% as of March 31, 2023, and 0.15% at June 30, 2022.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Quarterly Report on Form 10-Q for the period ended June 30, 2023, 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.

1

Summary Results
The following is a summary of the components of the Company’s operating results and performance ratios for the periods indicated:
Three months ended
June 30,March 31,
(dollars and shares in thousands, except per share data)20232023$ Change% Change
Net interest income$88,601 $93,336 $(4,735)(5.1)%
Provision for credit losses(9,650)(4,195)(5,455)130.0 %
Noninterest income15,741 13,635 2,106 15.4 %
Noninterest expense(61,243)(53,794)(7,449)13.8 %
Provision for income taxes(8,557)(13,149)4,592 (34.9)%
Net income$24,892 $35,833 $(10,941)(30.5)%
Diluted earnings per share$0.75 $1.07 $(0.32)(29.9)%
Dividends per share$0.30 $0.30 $— — %
Average common shares33,219 33,296 (77)(0.2)%
Average diluted common shares33,302 33,438 (136)(0.4)%
Return on average total assets1.01 %1.47 %
Return on average equity8.98 %13.36 %
Efficiency ratio58.69 %50.29 %
Three months ended
June 30,
(dollars and shares in thousands, except per share data)20232022$ Change% Change
Net interest income$88,601 $85,046 $3,555 4.2 %
Provision for credit losses(9,650)(2,100)(7,550)359.5 %
Noninterest income15,741 16,430 (689)(4.2)%
Noninterest expense(61,243)(56,264)(4,979)8.8 %
Provision for income taxes(8,557)(11,748)3,191 (27.2)%
Net income$24,892 $31,364 $(6,472)(20.6)%
Diluted earnings per share$0.75 $0.93 $(0.18)(19.4)%
Dividends per share$0.30 $0.25 $0.05 20.0 %
Average common shares33,219 33,561 (342)(1.0)%
Average diluted common shares33,302 33,705 (403)(1.2)%
Return on average total assets1.01 %1.24 %
Return on average equity8.98 %11.53 %
Efficiency ratio58.69 %55.45 %
Six months ended
June 30,
(dollars and shares in thousands)20232022$ Change% Change
Net interest income$181,937 $152,970 $28,967 18.9 %
Provision for credit losses(13,845)(10,430)(3,415)32.7 %
Noninterest income29,376 31,526 (2,150)(6.8)%
Noninterest expense(115,037)(102,711)(12,326)12.0 %
Provision for income taxes(21,706)(19,617)(2,089)10.6 %
Net income$60,725 $51,738 $8,987 17.4 %
Diluted earnings per share$1.82 $1.62 $0.20 12.4 %
Dividends per share$0.60 $0.50 $0.10 20.0 %
Average common shares33,257 31,815 1,442 4.5 %
Average diluted common shares33,371 31,963 1,408 4.4 %
Return on average total assets1.24 %1.10 %
Return on average equity11.13 %9.93 %
Efficiency ratio54.44 %55.67 %
2

Balance Sheet
Total loans outstanding, excluding PPP, grew to $6.5 billion as of June 30, 2023, an increase of 7.0% over the prior twelve months, and is entirely related to organic loan growth. As compared to March 31, 2023, total loans outstanding increased by $98.3 million or 6.1% annualized. Investments decreased to $2.49 billion as of June 30, 2023, an annualized decrease of 14.3% over the prior year quarter end. Quarterly average earning assets to quarterly total average assets were 91.6% on June 30, 2023, as compared to 91.4% and 92.2% at December 31, 2022, and June 30, 2022, respectively. The loan-to-deposit ratio was 80.5% on June 30, 2023, as compared to 80.0% and 69.8% at December 31, 2022, and June 30, 2022, respectively. During the current year to date period, and throughout the 2022 fiscal year, the Company held no brokered deposits and relied solely on short-term borrowings to fund cash flow timing differences.
Total shareholders' equity increased by $2.5 million during the quarter ended June 30, 2023, as a result of accumulated other comprehensive losses increasing by $11.9 million and cash dividend payments on common stock of approximately $10.0 million, offset by net income of $24.9 million. As a result, the Company’s book value was $32.86 per share at June 30, 2023, as compared to $32.84 and $31.25 at December 31, 2022 and June 30, 2022, respectively. The Company’s tangible book value per share, a non-GAAP measure, calculated by subtracting goodwill and other intangible assets from total shareholders’ equity and dividing that sum by total shares outstanding, was $23.30 per share at June 30, 2023, as compared to $23.22 and $21.41 at December 31, 2022, and June 30, 2022, respectively.
Trailing Quarter Balance Sheet Change
Ending balancesJune 30,March 31,Annualized
 % Change
(dollars in thousands)20232023$ Change
Total assets$9,853,421 $9,842,394 $11,027 0.4 %
Total loans6,520,740 6,422,421 98,319 6.1 
Total investments2,485,378 2,577,769 (92,391)(14.3)
Total deposits8,095,365 8,025,865 69,500 3.5 
Total other borrowings$392,714 $434,140 $(41,426)(38.2)%
Loans outstanding increased by $98.3 million or 6.1% on an annualized basis during the quarter ended June 30, 2023. During the quarter, loan originations/draws totaled approximately $456.0 million while payoffs/repayments of loans totaled $356.0 million, which compares to originations/draws and payoffs/repayments during the trailing quarter ended of $357.0 million and $389.0 million, respectively. While origination volume increased from the previous quarter, activity levels continue to be lower relative to the comparative period in 2022 due in part to disciplined pricing and underwriting, as well as decreased borrower appetite at currently offered lending rates. Management continues to believe that the current loan pipeline is sufficient to support the Company's objectives. Investment security balances decreased $92.4 million or 14.3% on an annualized basis as the result of net prepayments, maturities, and purchases totaling approximating $75.2 million and net decreases in the market value of securities of $16.9 million. Management seeks to utilize excess cash flows from the investment security portfolio to support loan growth or reduce borrowings thus resulting in an improved mix of earning assets. Deposit balances increased by $69.5 million or 3.5% annualized during the period. Net cash flow surpluses during the quarter resulted in a net decrease of $41.4 million in short-term borrowings, which totaled $392.7 million as of the period ended June 30, 2023.
Average Trailing Quarter Balance Sheet Change
Quarterly average balances for the period endedJune 30,March 31,Annualized
% Change
(dollars in thousands)20232023$ Change
Total assets$9,848,191 $9,878,927 $(30,736)(1.2)%
Total loans6,467,381 6,413,958 53,423 3.3 
Total investments2,525,334 2,587,285 (61,951)(9.6)
Total deposits7,981,515 8,218,576 (237,061)(11.5)
Total other borrowings$477,256 $277,632 $199,624 287.6 %
Year Over Year Balance Sheet Change
Ending balancesAs of June 30,% Change
(dollars in thousands)20232022$ Change
Total assets$9,853,421 $10,120,611 $(267,190)(2.6)%
Total loans6,520,740 6,113,421 407,319 6.7 
Total loans, excluding PPP 6,519,316 6,095,667 423,649 7.0 
Total investments2,485,378 2,802,815 (317,437)(11.3)
Total deposits8,095,365 8,756,775 (661,410)(7.6)
Total other borrowings$392,714 $35,089 $357,625 1,019.2 %

3

Non-PPP loan balances increased as a result of organic activities by approximately $423.6 million or 7.0% during the twelve-month period ending June 30, 2023. Over the same period deposit balances have declined by $661.4 million or 7.6%. The Company has offset these declines through the deployment of excess cash balances, runoff of investment security balances, and proceeds from short-term FHLB borrowings. As of June 30, 2023, short-term borrowings from the FHLB totaled $394.1 million and had an interest rate of 5.11%.
Liquidity
The Company's primary sources of liquidity include the following for the periods indicated:
(dollars in thousands)June 30, 2023March 31, 2023June 30, 2022
Borrowing capacity at correspondent banks and FRB$2,847,052 $2,853,219 $2,690,597 
Less: borrowings outstanding(350,000)(394,095)— 
Unpledged available-for-sale (AFS) investment securities
1,813,894 1,883,353 2,192,704 
Cash held or in transit with FRB
79,530 67,468 432,190 
    Total primary liquidity$4,390,476 $4,409,945 $5,315,491 
Estimated uninsured deposit balances$2,522,718 $2,312,309 $2,950,614 
At June 30, 2023, the Company's primary sources of liquidity represented 54.2% of total deposits and 174% of estimated total uninsured (excluding collateralized municipal deposits and intercompany balances) deposits, respectively. As secondary sources of liquidity, the Company's held-to-maturity investment securities had a fair value of $134.4 million, including approximately $10.7 million in net unrealized losses. The Company did not utilize any brokered deposits during 2023 or 2022.
Net Interest Income and Net Interest Margin
During the twelve-month period ended June 30, 2023, the Federal Open Market Committee's (FOMC) actions have resulted in an increase in the Fed Funds Rate by 350 basis points. During the same period the Company's yield on total loans (excluding PPP) increased 68 basis points to 5.38% for the three months ended June 30, 2023, from 4.70% for the three months ended June 30, 2022. Moreover, the tax equivalent yield on the Company's investment security portfolio increased by 88 basis points to 3.24% during the twelve months ended June 30, 2023. The cost of total interest-bearing deposits and total interest-bearing liabilities increased by 88 basis points and 122 basis points, respectively, between the three-month periods ended June 30, 2023 and 2022. Since FOMC rate actions began, the Company's cost of total deposits has increased 54 basis points which translates to a cycle to date deposit beta of 10.80%.
The Company continues to manage its cost of deposits through the use of pricing strategies and delayed changes to the deposit rates offered to the general public. As of June 30, 2023, March 31, 2023, and December 31, 2022, total deposits priced utilizing these strategies totaled $1,070.7 million, $731.9 million and $579.1 million, respectively, and carried weighted average rates of 3.38%, 2.68% and 1.64%, respectively.
The following is a summary of the components of net interest income for the periods indicated:
Three months ended
June 30,March 31,
(dollars in thousands)20232023Change% Change
Interest income$107,158 $102,907 $4,251 4.1 %
Interest expense(18,557)(9,571)(8,986)93.9 %
Fully tax-equivalent adjustment (FTE) (1)
379 392 (13)(3.3)%
Net interest income (FTE)$88,980 $93,728 $(4,748)(5.1)%
Net interest margin (FTE)3.96 %4.21 %
Acquired loans discount accretion, net:
Amount (included in interest income)$1,471 $1,397 $74 5.3 %
Net interest margin less effect of acquired loan discount accretion(1)
3.89 %4.15 %(0.26)%
PPP loans yield, net:
Amount (included in interest income)$4 $5 $(1)(20.0)%
Net interest margin less effect of PPP loan yield (1)
3.96 %4.21 %(0.25)%
Acquired loans discount accretion and PPP loan yield, net:
Amount (included in interest income)$1,475 $1,402 $73 5.2 %
Net interest margin less effect of acquired loan discount accretion and PPP loan yield (1)
3.89 %4.15 %(0.26)%
4

Three months ended
June 30,
(dollars in thousands)20232022Change% Change
Interest income$107,158 $86,955 $20,203 23.2 %
Interest expense(18,557)(1,909)(16,648)872.1 %
Fully tax-equivalent adjustment (FTE) (1)
379 397 (18)(4.5)%
Net interest income (FTE)$88,980 $85,443 $3,537 4.1 %
Net interest margin (FTE)3.96 %3.67 %
Acquired loans discount accretion, net:
Amount (included in interest income)$1,471 $1,677 $(206)(12.3)%
Net interest margin less effect of acquired loan discount accretion(1)
3.89 %3.60 %0.29 %
PPP loans yield, net:
Amount (included in interest income)$4 $964 $(960)(99.6)%
Net interest margin less effect of PPP loan yield (1)
3.96 %3.64 %0.32 %
Acquired loans discount accretion and PPP loan yield, net:
Amount (included in interest income)$1,475 $2,641 $(1,166)(44.1)%
Net interest margin less effect of acquired loan discount accretion and PPP loan yield (1)
3.89 %3.57 %0.32 %

Six months ended
June 30,
(dollars in thousands)20232022Change% Change
Interest income$210,064 $156,150 $53,914 34.5 %
Interest expense(28,127)(3,180)(24,947)784.5 %
Fully tax-equivalent adjustment (FTE) (1)
770 680 90 13.2 %
Net interest income (FTE)$182,707 $153,650 $29,057 18.9 %
Net interest margin (FTE)4.08 %3.54 %
Acquired loans discount accretion, net:
Amount (included in interest income)$2,868 $3,000 $(132)(4.4)%
Net interest margin less effect of acquired loan discount accretion(1)
4.02 %3.51 %0.51 %
PPP loans yield, net:
Amount (included in interest income)$9 $2,061 $(2,052)(99.6)%
Net interest margin less effect of PPP loan yield (1)
4.08 %3.51 %0.57 %
Acquired loans discount accretion and PPP loan yield, net:
Amount (included in interest income)$2,877 $5,061 $(2,184)(43.2)%
Net interest margin less effect of acquired loans discount and PPP loan yield (1)
4.02 %3.44 %0.58 %
(1)Certain information included herein is presented on a fully tax-equivalent (FTE) basis and / or to present additional financial details which may be desired by users of this financial information. The Company believes the use of these non-generally accepted accounting principles (non-GAAP) measures provide additional clarity in assessing its results, and the presentation of these measures are common practice within the banking industry. See additional information related to non-GAAP measures at the back of this document.
Loans may be acquired at a premium or discount to par value, in which case, the premium is amortized (subtracted from) or the discount is accreted (added to) interest income over the remaining life of the loan. The dollar impact of loan discount accretion and loan premium amortization decrease as the purchased loans mature or pay off early. Upon the early pay off of a loan, any remaining unaccreted discount or unamortized premium is immediately taken into interest income; and as loan payoffs may vary significantly from quarter to quarter, so may the impact of discount accretion and premium amortization on interest income. As a result of the increase in interest rates, the prepayment rate of portfolio loans, inclusive of those acquired at a premium or discount, declined during 2023 as compared to 2022. During the three months ended June 30, 2023, March 31, 2023, and June 30, 2022, purchased loan discount accretion was $1.5 million, $1.4 million, and $1.7 million, respectively.





5

The following table shows the components of net interest income and net interest margin on a fully tax-equivalent (FTE) basis for the quarterly periods indicated:
ANALYSIS OF CHANGE IN NET INTEREST MARGIN ON EARNING ASSETS
(unaudited, dollars in thousands)
Three months endedThree months endedThree months ended
June 30, 2023March 31, 2023June 30, 2022
Average
Balance		Income/
Expense		Yield/
Rate		Average
Balance		Income/
Expense		Yield/
Rate		Average
Balance		Income/
Expense		Yield/
Rate
Assets
Loans, excluding PPP$6,465,903 $86,743 5.38 %$6,412,386 $82,410 5.21 %$5,890,578 $68,954 4.70 %
PPP loans1,478 4 1.09 %1,572 5 1.29 %37,852 964 10.22 %
Investments-taxable2,343,511 18,775 3.21 %2,398,235 18,916 3.20 %2,536,362 14,350 2.27 %
Investments-nontaxable (1)
181,823 1,641 3.62 %189,050 1,699 3.64 %196,104 1,720 3.52 %
Total investments2,525,334 20,416 3.24 %2,587,285 20,615 3.23 %2,732,466 16,070 2.36 %
Cash at Federal Reserve and other banks29,349 374 5.11 %26,818 269 4.07 %669,163 1,364 0.82 %
Total earning assets9,022,064 107,537 4.78 %9,028,061 103,299 4.64 %9,330,059 87,352 3.76 %
Other assets, net826,127 850,866 791,655 
Total assets$9,848,191 $9,878,927 $10,121,714 
Liabilities and shareholders’ equity
Interest-bearing demand deposits$1,657,714 $2,173 0.53 %$1,673,114 $387 0.09 %$1,799,205 $99 0.02 %
Savings deposits2,768,981 6,936 1.00 %2,898,463 4,154 0.58 %3,003,337 529 0.07 %
Time deposits426,689 2,348 2.21 %274,805 604 0.89 %337,007 220 0.26 %
Total interest-bearing deposits4,853,384 11,457 0.95 %4,846,382 5,145 0.43 %5,139,549 848 0.07 %
Other borrowings477,256 5,404 4.54 %277,632 2,809 4.10 %35,253 5 0.06 %
Junior subordinated debt101,056 1,696 6.73 %101,044 1,617 6.49 %100,991 1,056 4.19 %
Total interest-bearing liabilities5,431,696 18,557 1.37 %5,225,058 9,571 0.74 %5,275,793 1,909 0.15 %
Noninterest-bearing deposits3,128,131 3,372,194 3,603,771 
Other liabilities176,141 194,202 150,696 
Shareholders’ equity1,112,223 1,087,473 1,091,454 
Total liabilities and shareholders’ equity$9,848,191 $9,878,927 $10,121,714 
Net interest rate spread (1) (2)
3.41 %3.90 %3.61 %
Net interest income and margin (1) (3)
$88,980 3.96 %$93,728 4.21 %$85,443 3.67 %
(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.
Net interest income (FTE) during the three months ended June 30, 2023, decreased $4.7 million or 5.1% to $89.0 million compared to $93.7 million during the three months ended March 31, 2023. In addition, net interest margin declined 25 basis points to 3.96%, compared to the trailing quarter. The decrease in net interest income is primarily attributed to an additional $6.3 million in deposit interest expense and $2.6 million in additional interest expense on other borrowings, both due to increases in interest rates as compared to the trailing quarter. As a partial offset, total interest income also increased as compared to the trailing quarter, up $4.3 million or 4.1%.

As compared to the same quarter in the prior year, average loan yields, excluding PPP, increased 68 basis points from 4.70% during the three months ended June 30, 2022, to 5.38% during the three months ended June 30, 2023. The accretion of discounts from acquired loans added 9 and 11 basis points to loan yields during the quarters ended June 30, 2023 and June 30, 2022, respectively.
The rates paid on interest bearing deposits increased by 52 basis points during the quarter ended June 30, 2023, compared to the trailing quarter. The cost of interest-bearing deposits increased by 88 basis points between the quarter ended June 30, 2023, and the same quarter of the prior year. In addition, the average balance of noninterest-bearing deposits decreased by $244.1 million quarter over quarter. As of June 30, 2023, the ratio of average total noninterest-bearing deposits to total average deposits was 39.2%, as compared to 41.0% and 41.2% at March 31, 2023 and June 30, 2022, respectively.
6

Six months ended June 30, 2023Six months ended June 30, 2022
Average
Balance		Income/
Expense		Yield/
Rate		Average
Balance		Income/
Expense		Yield/
Rate
Assets
Loans, excluding PPP$6,439,292 $169,152 5.30 %$5,416,854 $125,602 4.68 %
PPP loans1,525 9 1.19 %44,238 2,061 9.40 %
Investments-taxable2,370,722 37,691 3.21 %2,434,045 24,573 2.04 %
Investments-nontaxable (1)
185,417 3,340 3.63 %170,132 2,945 3.49 %
Total investments2,556,139 41,031 3.24 %2,604,177 27,518 2.13 %
Cash at Federal Reserve and other banks28,090 643 4.62 %688,257 1,649 0.48 %
Total earning assets9,025,046 210,835 4.71 %8,753,526 156,830 3.61 %
Other assets, net838,425 700,170 
Total assets$9,863,471 $9,453,696 
Liabilities and shareholders’ equity
Interest-bearing demand deposits$1,665,371 $2,560 0.31 %$1,698,815 $183 0.02 %
Savings deposits2,833,365 11,090 0.79 %2,788,374 856 0.06 %
Time deposits351,166 2,952 1.70 %319,351 488 0.31 %
Total interest-bearing deposits4,849,902 16,602 0.69 %4,806,540 1,527 0.06 %
Other borrowings377,995 8,212 4.38 %39,966 10 0.05 %
Junior subordinated debt101,050 3,314 6.61 %81,092 1,643 4.09 %
Total interest-bearing liabilities5,328,947 28,128 1.06 %4,927,598 3,180 0.13 %
Noninterest-bearing deposits3,249,488 3,329,459 
Other liabilities185,123 146,073 
Shareholders’ equity1,099,913 1,050,566 
Total liabilities and shareholders’ equity$9,863,471 $9,453,696 
Net interest rate spread (1) (2)
3.65 %3.48 %
Net interest income and margin (1) (3)
$182,707 4.08 %$153,650 3.54 %
(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.


Interest Rates and Earning Asset Composition
During the quarter ended June 30, 2023, market interest rates, including many rates that serve as reference indices for variable rate loans and investment securities continued to increase. As noted above, these rate increases have continued to benefit growth in total interest income. As of June 30, 2023, the Company's loan portfolio consisted of approximately $6.5 billion in outstanding principal with a weighted average coupon rate of 5.15%. During the three-month periods ending June 30, 2023, March 31, 2023, and December 31, 2022, the weighted average coupon on loan production in the quarter was 6.85%, 6.71%, and 6.05%, respectively. Included in the June 30, 2023 loan total are adjustable rate loans totaling $3.8 billion, of which, $859.9 million are considered floating based on the Wall Street Prime index. In addition, the Company holds certain investment securities with fair values totaling $375.5 million which are subject to repricing on not less than a quarterly basis.

Asset Quality and Credit Loss Provisioning
During the three months ended June 30, 2023, the Company recorded a provision for credit losses of $9.7 million, as compared to $4.2 million during the trailing quarter, and $2.1 million during the first quarter of 2022.
The following table presents details of the provision for credit losses for the periods indicated:
Three months endedSix months ended
(dollars in thousands)June 30, 2023June 30, 2022June 30, 2023June 30, 2022
Addition to allowance for credit losses$8,980 $1,940 $13,295 $10,145 
Addition to reserve for unfunded loan commitments
670 160 550 285 
    Total provision for credit losses$9,650 $2,100 $13,845 $10,430 
7

The following table presents the activity in the allowance for credit losses on loans for the periods indicated:
Three months endedSix months ended
(dollars in thousands)June 30, 2023June 30, 2022June 30, 2023June 30, 2022
Balance, beginning of period$108,407 $96,049 $105,680 $85,376 
ACL at acquisition for PCD loans— — — 2,037 
Provision for credit losses8,980 1,940 13,295 10,145 
Loans charged-off(277)(401)(2,035)(1,144)
Recoveries of previously charged-off loans219 356 389 1,530 
Balance, end of period$117,329 $97,944 $117,329 $97,944 
The allowance for credit losses (ACL) was $117.3 million as of June 30, 2023, a net increase of $8.9 million over the immediately preceding quarter. The provision for credit losses of $9.0 million during the recent quarter was the net effect of increases in required reserves due to individually analyzed credits, qualitative factors, and quantitative reserves under the cohort model. On a comparative basis, the provision for credit losses of $1.9 million during the three months ended June 30, 2022, was largely the result of loan growth in the period. For the current quarter, the qualitative components of the ACL resulted in a net increase in required reserves totaling approximately $2.9 million due to softening of the California employment data, and increase in the corporate debt yields. Meanwhile, the quantitative component of the ACL increased reserve requirements by approximately $6.0 million over the trailing quarter primarily due to increases in specific reserves.
The Company utilizes a forecast period of approximately eight quarters and obtains the forecast data from publicly available sources as of the balance sheet date. This forecast data continues to evolve and includes improving shifts in the magnitude of changes for both the unemployment and GDP factors leading up to the balance sheet date, particularly CA unemployment trends. Despite continued declines on a year over year comparative basis, core inflation remains elevated from wage pressures, and higher living costs such as housing and food prices. Management notes the rapid intervals of rate increases by the Federal Reserve and flattening or inversion of the yield curve, have informed expectations of the US entering a recession within 12 months. As a result, management continues to believe that certain credit weaknesses are likely present in the overall economy and that it is appropriate to cautiously maintain a reserve level that incorporates such risk factors.
Loans past due 30 days or more increased by $1.6 million during the quarter ended June 30, 2023, to $9.5 million, as compared to $7.9 million at March 31, 2023. Non-performing loans were $37.6 million at June 30, 2023, an increase of $21.6 million from $16.0 million as of March 31, 2023, and an increase of $25.7 million from $11.9 million as of June 30, 2022. The current quarter increase in non-performing assets is nearly entirely attributed to a single relationship. Of the $37.6 million loans designated as non-performing as of June 30, 2023, approximately $31.7 million are current with respect to payments required under their original loan agreements.
The following table illustrates the total loans by risk rating and their respective percentage of total loans for the periods presented:
June 30,% of Loans OutstandingMarch 31,% of Loans OutstandingJune 30,% of Loans Outstanding
(dollars in thousands)202320232022
Risk Rating:
Pass$6,299,893 96.5 %$6,232,962 97.0 %$5,960,781 97.5 %
Special Mention155,678 2.4 %125,492 2.0 %105,819 1.7 %
Substandard65,169 1.1 %63,967 1.0 %46,821 0.8 %
Total$6,520,740 $6,422,421 $6,113,421 
Classified loans to total loans1.00 %1.00 %0.77 %
Loans past due 30+ days to total loans0.15 %0.12 %0.10 %
The ratio of classified loans of 1.00% as of June 30, 2023, remained consistent with the trailing quarter, but increased by 23 basis points from June 30, 2022. The Company's criticized loan balances increased during the current quarter by $31.4 million to $220.8 million as of June 30, 2023. The recent increase in special mention loans as a percentage of total loans outstanding is consistent with volumes experienced prior to the recent quantitative easing cycle spurred by the COVID pandemic and reflects management's historically conservative approach to credit risk monitoring. The newly criticized special mention loans are spread amongst a handful of relationships, with diversity amongst geographies and collateral types.
There were no properties added or disposed within Other Real Estate Owned during the second quarter of 2023. Total write-downs of $0.5 million were incurred during the current quarter across four properties. As of June 30, 2023, other real estate owned consisted of nine properties with a carrying value of approximately $2.9 million.
Non-performing assets of $40.5 million at June 30, 2023, represented 0.41% of total assets, a change from the $19.5 million or 0.20% and $15.3 million or 0.15% as of March 31, 2023 and June 30, 2022, respectively.
8

Allocation of Credit Loss Reserves by Loan Type
As of June 30, 2023As of March 31, 2023As of June 30, 2022
(dollars in thousands)Amount% of Loans OutstandingAmount% of Loans OutstandingAmount% of Loans Outstanding
Commercial real estate:
     CRE - Non Owner Occupied$33,042 1.54 %$32,963 1.53 %$28,081 1.41 %
     CRE - Owner Occupied20,2082.08 %14,5591.50 %12,6201.35 %
     Multifamily14,0751.48 %13,8731.47 %11,7951.36 %
     Farmland3,6911.33 %3,5421.29 %2,9541.17 %
Total commercial real estate loans71,0161.63 %64,9371.49 %55,4501.37 %
Consumer:
     SFR 1-4 1st Liens13,1341.58 %11,9201.48 %10,3111.43 %
     SFR HELOCs and Junior Liens10,6082.92 %10,9142.91 %11,5913.01 %
     Other2,7714.67 %2,0623.76 %2,0293.41 %
Total consumer loans 26,5132.12 %24,8962.02 %23,9312.06 %
Commercial and Industrial11,6472.02 %12,0692.18 %9,9791.97 %
Construction7,0312.53 %5,6552.50 %7,5222.40 %
Agricultural Production1,1051.80 %8331.77 %1,0461.47 %
Leases170.20 %170.20 %160.20 %
     Allowance for credit losses117,3291.80 %108,4071.69 %97,9441.60 %
Reserve for unfunded loan commitments4,865 4,195 4,075 
     Total allowance for credit losses$122,194 1.87 %$112,602 1.75 %$102,019 1.67 %

In addition to the allowance for credit losses above, the Company has acquired various performing loans whose fair value as of the acquisition date was determined to be less than the principal balance owed on those loans. This difference represents the collective discount of credit, interest rate and liquidity measurements which is expected to be amortized over the life of the loans. As of June 30, 2023, the unamortized discount associated with acquired loans totaled $27.6 million.
Non-interest Income
The following table presents the key components of non-interest income for the current and trailing quarterly periods indicated:
Three months ended
(dollars in thousands)June 30, 2023March 31, 2023Change% Change
ATM and interchange fees$6,856 $6,344 $512 8.1 %
Service charges on deposit accounts4,581 3,431 1,150 33.5 %
Other service fees992 1,166 (174)(14.9)%
Mortgage banking service fees454 465 (11)(2.4)%
Change in value of mortgage servicing rights85 (209)294 (140.7)%
Total service charges and fees12,968 11,197 1,771 15.8 %
Increase in cash value of life insurance788 802 (14)(1.7)%
Asset management and commission income1,158 934 224 24.0 %
Gain on sale of loans295 206 89 43.2 %
Lease brokerage income74 98 (24)(24.5)%
Sale of customer checks407 288 119 41.3 %
Loss on sale of investment securities— (164)164 (100.0)%
(Loss) gain on marketable equity securities(42)42 (84)(200.0)%
Other income93 232 (139)(59.9)%
Total other non-interest income2,773 2,438 335 13.7 %
Total non-interest income$15,741 $13,635 $2,106 15.4 %
Non-interest income increased $2.1 million or 15.4% to $15.7 million during the three months ended June 30, 2023, compared to $13.6 million during the quarter ended March 31, 2023. Total service charges and fees increased by $1.8 million or 15.8% during the period, which is largely a return to normalcy following the waived or reversed fees during the first quarter of 2023 as previously disclosed.



9

The following table presents the key components of non-interest income for the current and prior year periods indicated:
Three months ended June 30,
(dollars in thousands)20232022Change% Change
ATM and interchange fees$6,856 $6,984 $(128)(1.8)%
Service charges on deposit accounts4,581 4,163 418 10.0 %
Other service fees992 1,279 (287)(22.4)%
Mortgage banking service fees454 482 (28)(5.8)%
Change in value of mortgage servicing rights85 136 (51)(37.5)%
Total service charges and fees12,968 13,044 (76)(0.6)%
Increase in cash value of life insurance788 752 36 4.8 %
Asset management and commission income1,158 1,039 119 11.5 %
Gain on sale of loans295 542 (247)(45.6)%
Lease brokerage income74 238 (164)(68.9)%
Sale of customer checks407 441 (34)(7.7)%
Loss on sale of investment securities— — — — %
Loss on marketable equity securities(42)(94)52 (55.3)%
Other income93 468 (375)(80.1)%
Total other non-interest income2,773 3,386 (613)(18.1)%
Total non-interest income$15,741 $16,430 $(689)(4.2)%
Non-interest income decreased $0.7 million or 4.2% to $15.7 million during the three months ended June 30, 2023, compared to $16.4 million during the quarter ended June 30, 2022. The declining mortgage related activity resulting from elevated interest rates reduced income recorded from the sale of loans by $0.2 million or 45.6%, and to a lesser extent a smaller change in the fair value of mortgage servicing rights, as compared to the three months ended June 30, 2022. Other non-interest income reductions of $0.4 million were primarily the result of a $0.3 million difference in fair value changes of assets associated with retirement plans where the corresponding offset of those changes are included in benefits and other compensation costs.

Six months ended June 30,
(dollars in thousands)20232022Change% Change
ATM and interchange fees$13,200 $13,227 $(27)(0.2)%
Service charges on deposit accounts8,012 7,997 15 0.2 %
Other service fees2,158 2,161 (3)(0.1)%
Mortgage banking service fees919 945 (26)(2.8)%
Change in value of mortgage servicing rights(124)410 (534)(130.2)%
Total service charges and fees24,165 24,740 (575)(2.3)%
Increase in cash value of life insurance1,590 1,390 200 14.4 %
Asset management and commission income2,092 1,926 166 8.6 %
Gain on sale of loans501 1,788 (1,287)(72.0)%
Lease brokerage income172 396 (224)(56.6)%
Sale of customer checks695 545 150 27.5 %
Loss on sale of investment securities(164)— (164)n/m
Loss on marketable equity securities— (231)231 (100.0)%
Other income325 972 (647)(66.6)%
Total other non-interest income5,211 6,786 (1,575)(23.2)%
Total non-interest income$29,376 $31,526 $(2,150)(6.8)%
Non-interest income decreased $2.2 million or 6.8% to $29.4 million during the three months ended June 30, 2023, as compared to $31.5 million during the six months ended June 30, 2022, for reasons similar to those referenced above.
10

Non-interest Expense
The following table presents the key components of non-interest expense for the current and trailing quarterly periods indicated:
Three months ended
(dollars in thousands)June 30, 2023March 31, 2023Change% Change
Base salaries, net of deferred loan origination costs$24,059 $23,000 $1,059 4.6 %
Incentive compensation4,377 2,895 1,482 51.2 %
Benefits and other compensation costs6,278 6,668 (390)(5.8)%
Total salaries and benefits expense34,714 32,563 2,151 6.6 %
Occupancy3,991 4,160 (169)(4.1)%
Data processing and software4,638 4,032 606 15.0 %
Equipment1,436 1,383 53 3.8 %
Intangible amortization1,656 1,656 — — %
Advertising1,016 759 257 33.9 %
ATM and POS network charges1,902 1,709 193 11.3 %
Professional fees1,985 1,589 396 24.9 %
Telecommunications809 595 214 36.0 %
Regulatory assessments and insurance1,993 792 1,201 151.6 %
Postage311 299 12 4.0 %
Operational loss1,090 435 655 150.6 %
Courier service483 339 144 42.5 %
Gain on sale or acquisition of foreclosed assets— — — — %
Loss on disposal of fixed assets18 — 18 n/m
Other miscellaneous expense5,201 3,483 1,718 49.3 %
Total other non-interest expense26,529 21,231 5,298 25.0 %
Total non-interest expense$61,243 $53,794 $7,449 13.8 %
Average full-time equivalent staff1,2101,219(9)(0.7)%
Non-interest expense for the quarter ended June 30, 2023, increased $7.4 million or 13.8% to $61.2 million as compared to $53.8 million during the trailing quarter ended March 31, 2023. Total salaries and benefits expense increased by $2.2 million or 6.6%, led by $1.5 million of growth in incentive compensation expense related to the achievement of certain loan and deposit volume targets and a $1.1 million or 4.6% increase in salaries which were primarily driven by Company-wide merit increases which became effective in late March of this year. Data processing and software expenses increased by $0.6 million or 15.0% related to ongoing investments in the Company's data management and security infrastructure. Advertising costs increased $0.3 million or 33.9% during the quarter, connected to an increase in media advertising for promotional campaigns. Professional fees for the three months ended June 30, 2023, include approximately $0.7 million in costs associated with third party assistance with contract negotiation, the benefits of which will be realized in future periods. Regulatory assessments increased $1.2 million or 151.6% during the quarter as a result of increases in assessment rates. Management estimates that the near-term future quarterly run rate of these regulatory assessment expenses will be approximately $1.7 million per quarter, but anticipates that these costs will increase further if the economic environment in which the Company operates continues to deteriorate. The Company does not anticipate that it will be subject to the recently announced special assessments as its total uninsured deposits do not exceed $5.0 billion. Operational losses also increased by $0.7 million or 150.6%, primarily as a result of burglary at several ATM machines. Other miscellaneous expenses increased $1.7 million or 49.3%, due primarily to changes in regulatory requirements which is expected to result in an estimated $0.8 million in refunds to customers previously charged non-sufficient funds fees and an additional increase of $0.5 million in provision expense on real estate owned and various other increases across the Company, including travel and entertainment costs.
11

The following table presents the key components of non-interest expense for the current and prior year quarterly periods indicated:
Three months ended June 30,
(dollars in thousands)20232022Change% Change
Base salaries, net of deferred loan origination costs$24,059 $22,169 $1,890 8.5 %
Incentive compensation4,377 4,282 95 2.2 %
Benefits and other compensation costs6,278 6,491 (213)(3.3)%
Total salaries and benefits expense34,714 32,942 1,772 5.4 %
Occupancy3,991 3,996 (5)(0.1)%
Data processing and software4,638 3,596 1,042 29.0 %
Equipment1,436 1,453 (17)(1.2)%
Intangible amortization1,656 1,702 (46)(2.7)%
Advertising1,016 818 198 24.2 %
ATM and POS network charges1,902 1,781 121 6.8 %
Professional fees1,985 1,233 752 61.0 %
Telecommunications809 564 245 43.4 %
Regulatory assessments and insurance1,993 779 1,214 155.8 %
Merger and acquisition expenses— 2,221 (2,221)(100.0)%
Postage311 313 (2)(0.6)%
Operational loss1,090 456 634 139.0 %
Courier service483 486 (3)(0.6)%
Gain on sale or acquisition of foreclosed assets— (98)98 (100.0)%
Loss (gain) on disposal of fixed assets18 5 13 260.0 %
Other miscellaneous expense5,201 4,017 1,184 29.5 %
Total other non-interest expense26,529 23,322 3,207 13.8 %
Total non-interest expense$61,243 $56,264 $4,979 8.8 %
Average full-time equivalent staff1,2101,18327 2.3 %
Total non-interest expense increased $5.0 million or 8.8% to $61.2 million during the three months ended June 30, 2023, as compared to $56.3 million for the quarter ended June 30, 2022. Total salaries and benefits expense increased by $1.8 million or 5.4% to $34.7 million, largely from a net increase of 27 full-time equivalent positions as well as annual merit increases as previously discussed. Professional fees increased by $0.7 million which was directly associated with third party contract negotiation assistance, the benefits of which will be realized in future periods. Other miscellaneous expenses increased $1.2 million or 29.5%, due primarily to changes in regulatory requirements which is expected to result in an estimated $0.8 million in refunds to customers previously charged non-sufficient funds fees and an additional increase of $0.5 million in provision expense on real estate owned and various other increases across the Company, including travel and entertainment costs. Merger and acquisition expenses associated with the VRB merger totaled $2.2 million for the quarter ended June of 2022. The reasons for changes in data processing and software, and operational losses, are consistent with the discussions previously provided.
12

Six months ended June 30,
(dollars in thousands)20232022Change% Change
Base salaries, net of deferred loan origination costs$47,059 $40,385 $6,674 16.5 %
Incentive compensation7,272 6,865 407 5.9 %
Benefits and other compensation costs12,946 12,463 483 3.9 %
Total salaries and benefits expense67,277 59,713 7,564 12.7 %
Occupancy8,151 7,571 580 7.7 %
Data processing and software8,670 7,109 1,561 22.0 %
Equipment2,819 2,786 33 1.2 %
Intangible amortization3,312 2,930 382 13.0 %
Advertising1,775 1,455 320 22.0 %
ATM and POS network charges3,611 3,156 455 14.4 %
Professional fees3,574 2,109 1,465 69.5 %
Telecommunications1,404 1,085 319 29.4 %
Regulatory assessments and insurance2,785 1,499 1,286 85.8 %
Merger and acquisition expenses— 6,253 (6,253)(100.0)%
Postage610 541 69 12.8 %
Operational loss1,525 273 1,252 458.6 %
Courier service822 900 (78)(8.7)%
Gain on sale or acquisition of foreclosed assets— (98)98 (100.0)%
Loss (gain) on disposal of fixed assets18 (1,073)1,091 (101.7)%
Other miscellaneous expense8,684 6,502 2,182 33.6 %
Total other non-interest expense47,760 42,998 4,762 11.1 %
Total non-interest expense$115,037 $102,711 $12,326 12.0 %
Average full-time equivalent staff1,2141,13381 7.1 %
Total non-interest expense increased $12.3 million or 12.0% to $115.0 million during the six months ended June 30, 2023, as compared to $102.7 million for the comparative period in 2022, for reasons primarily associated with the acquisition of Valley Republic Bank in March of 2022 which resulted in expense increases for nearly every identified category. Merger and acquisition expenses associated with the VRB merger totaled $6.2 million for the six-month period ended 2022. The reasons for additional and more specific changes in various costs identified above, and including but not limited to data processing, regulatory assessments, operational losses and other expenses are consistent with the discussions previously provided.
Provision for Income Taxes
The Company’s effective tax rate was 25.6% for the quarter ended June 30, 2023, as compared to 26.8% for the period ended March 31, 2023, and 28.1% for the year ended December 31, 2022. Differences between the Company's effective tax rate and applicable federal and state blended statutory rate of approximately 29.6% are due to the proportion of non-taxable revenues, non-deductible expenses, and benefits from tax credits as compared to the levels of pre-tax earnings.
About TriCo Bancshares
Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ: TCBK) headquartered in Chico, California, providing a unique brand of customer Service with Solutions available in traditional stand-alone and in-store bank branches and loan production offices in communities throughout California. Tri Counties Bank provides an extensive and competitive breadth of consumer, small business and commercial banking financial services, along with convenient around-the-clock ATMs, online and mobile banking access. Brokerage services are provided by Tri Counties Advisors through affiliation with Raymond James Financial Services, Inc. Visit www.TriCountiesBank.com to learn more.






13

Forward-Looking Statements
The statements contained herein that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond our control. There can be no assurance that future developments affecting us will be the same as those anticipated by management. We caution readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. These risks and uncertainties include, but are not limited to, the following: the strength of the United States economy in general and the strength of the local economies in which we conduct operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation, interest rate, market and monetary fluctuations impacts on the Company's business condition and financial operating results; the impact of changes in financial services industry policies, laws and regulations; regulatory restrictions on our ability to successfully market and price our products to consumers; technological changes; weather, natural disasters and other catastrophic events that may or may not be caused by climate change and their effects on economic and business environments in which the Company operates; the impact of a slowing U.S. economy and potentially increased unemployment on the performance of our loan portfolio, the market value of our investment securities, the availability of, and cost of, sources of funding and the demand for our products; adverse developments with respect to U.S. or global economic conditions and other uncertainties, including the impact of supply chain disruptions, commodities prices, inflationary pressures and labor shortages on the economic recovery and our business; the impacts of international hostilities, terrorism or geopolitical events; adverse developments in the financial services industry generally such as the recent bank failures and any related impact on depositor behavior or investor sentiment; risks related to the sufficiency of liquidity; the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; the costs or effects of mergers, acquisitions or dispositions we may make, as well as whether we are able to obtain any required governmental approvals in connection with any such activities, or identify and complete favorable transactions in the future, and/or realize the contemplated financial business benefits; the regulatory and financial impacts associated with exceeding $10 billion in total assets; the negative impact on our reputation and profitability in the event customers experience economic harm or in the event that regulatory violations are identified; the ability to execute our business plan in new lending markets; the future operating or financial performance of the Company, including our outlook for future growth and changes in the level and direction of our nonperforming assets and charge-offs; the appropriateness of the allowance for credit losses, including the timing and effects of the implementation of the current expected credit losses model; any deterioration in values of California real estate, both residential and commercial; the effectiveness of the Company's asset management activities in improving, resolving or liquidating lower-quality assets; the effect of changes in the financial performance and/or condition of our borrowers; changes in accounting standards and practices; possible other-than-temporary impairment of securities held by us due to changes in credit quality or rates; changes in consumer spending, borrowing and savings habits; our ability to attract and maintain deposits and other sources of liquidity; the effects of changes in the level or cost of checking or savings account deposits on our funding costs and net interest margin; increasing noninterest expense and its impact on our efficiency ratio; competition and innovation with respect to financial products and services by banks, financial institutions and non-traditional providers including retail businesses and technology companies; the challenges of attracting, integrating and retaining key employees; the vulnerability of the Company's operational or security systems or infrastructure including the impact of the recent cyber security ransomware incident on our operations and reputation, the systems of third-party vendors or other service providers with whom the Company contracts, and the Company's customers to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and data/security breaches and the cost to defend against and respond to such incidents; increased data security risks due to work from home arrangements and email vulnerability; failure to safeguard personal information; the effect of a fall in stock market prices on our brokerage and wealth management businesses; the transition away from the London Interbank Offered Rate toward new interest rate benchmarks; the costs and effects of litigation and of unexpected or adverse outcomes in such litigation; and our ability to manage the risks involved in the foregoing. Additional factors that could cause results to differ materially from those described above can be found in our Annual Report on Form 10-K for the year ended December 31, 2022, which has been filed with the Securities and Exchange Commission (the “SEC”) and all subsequent filings with the SEC under Sections 13(a), 13(c), 14, and 15(d) of the Securities Act of 1934, as amended. Such filings are also available in the “Investor Relations” section of our website, https://www.tcbk.com/investor-relations and in other documents we file with the SEC. Annualized, pro forma, projections and estimates are not forecasts and may not reflect actual results. We undertake no obligation (and expressly disclaim any such obligation) to update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

14

TRICO BANCSHARES—CONDENSED CONSOLIDATED FINANCIAL DATA
(Unaudited. Dollars in thousands, except share data)
Three months ended
June 30,
2023		March 31,
2023		December 31,
2022		September 30,
2022		June 30,
2022
Revenue and Expense Data
Interest income$107,158 $102,907 $102,989 $96,366 $86,955 
Interest expense18,557 9,571 4,089 2,260 1,909 
Net interest income88,601 93,336 98,900 94,106 85,046 
Provision for credit losses9,650 4,195 4,245 3,795 2,100 
Noninterest income:
Service charges and fees12,968 11,197 12,343 12,682 13,044 
Loss on sale of investment securities— (164)— — — 
Other income2,773 2,602 3,537 2,958 3,386 
Total noninterest income15,741 13,635 15,880 15,640 16,430 
Noninterest expense (2):
Salaries and benefits34,714 32,563 36,611 33,528 34,370 
Occupancy and equipment5,427 5,543 5,482 5,387 5,449 
Data processing and network6,540 5,741 6,236 5,143 5,468 
Other noninterest expense14,562 9,947 11,140 10,407 10,977 
Total noninterest expense61,243 53,794 59,469 54,465 56,264 
Total income before taxes33,449 48,982 51,066 51,486 43,112 
Provision for income taxes8,557 13,149 14,723 14,148 11,748 
Net income$24,892 $35,833 $36,343 $37,338 $31,364 
Share Data
Basic earnings per share$0.75 $1.08 $1.09 $1.12 $0.93 
Diluted earnings per share$0.75 $1.07 $1.09 $1.12 $0.93 
Dividends per share$0.30 $0.30 $0.30 $0.30 $0.25 
Book value per common share$32.86 $32.84 $31.39 $29.71 $31.25 
Tangible book value per common share (1)$23.30 $23.22 $21.76 $19.92 $21.41 
Shares outstanding33,259,260 33,195,250 33,331,513 33,332,189 33,350,974 
Weighted average shares33,219,168 33,295,750 33,330,029 33,348,322 33,561,389 
Weighted average diluted shares33,301,548 33,437,680 33,467,393 33,463,364 33,705,280 
Credit Quality
Allowance for credit losses to gross loans1.80 %1.69 %1.64 %1.61 %1.60 %
Loans past due 30 days or more$9,483 $7,891 $4,947 $6,471 $5,920 
Total nonperforming loans$37,592 $16,025 $21,321 $17,471 $11,925 
Total nonperforming assets$40,506 $19,464 $24,760 $20,912 $15,304 
Loans charged-off$276 $1,758 $174 $267 $401 
Loans recovered$218 $170 $66 $311 $356 
Selected Financial Ratios
Return on average total assets1.01 %1.47 %1.45 %1.46 %1.24 %
Return on average equity8.98 %13.36 %14.19 %13.78 %11.53 %
Average yield on loans, excluding PPP5.38 %5.21 %5.10 %4.87 %4.70 %
Average yield on interest-earning assets4.78 %4.64 %4.52 %4.12 %3.76 %
Average rate on interest-bearing deposits0.95 %0.43 %0.18 %0.08 %0.07 %
Average cost of total deposits0.58 %0.25 %0.10 %0.04 %0.04 %
Average cost of total deposits and other borrowings0.80 %0.38 %0.12 %0.04 %0.02 %
Average rate on borrowings & subordinated debt4.92 %4.74 %4.07 %3.60 %3.12 %
Average rate on interest-bearing liabilities1.37 %0.74 %0.32 %0.17 %0.15 %
Net interest margin (fully tax-equivalent) (1)3.96 %4.21 %4.34 %4.02 %3.67 %
Loans to deposits80.55 %80.02 %77.45 %72.95 %69.81 %
Efficiency ratio58.69 %50.29 %51.81 %49.63 %55.45 %
Supplemental Loan Interest Income Data
Discount accretion on acquired loans$1,471 $1,397 $1,751 $714 $1,677 
All other loan interest income (excluding PPP) (1)$85,272 $81,013 $79,989 $74,929 $67,277 
Total loan interest income (excluding PPP) (1)$86,743 $82,410 $81,740 $75,643 $68,954 


(1) Non-GAAP measure
(2) Inclusive of merger related expenses
15

TRICO BANCSHARES—CONDENSED CONSOLIDATED FINANCIAL DATA
(Unaudited. Dollars in thousands)
Balance Sheet DataJune 30,
2023		March 31,
2023		December 31,
2022		September 30,
2022		June 30,
2022
Cash and due from banks$118,792 $110,335 $107,230 $246,509 $488,868 
Securities, available for sale, net2,323,011 2,408,452 2,455,036 2,482,857 2,608,771 
Securities, held to maturity, net145,117 152,067 160,983 168,038 176,794 
Restricted equity securities17,250 17,250 17,250 17,250 17,250 
Loans held for sale1,058 226 1,846 247 1,216 
Loans:
Commercial real estate4,343,924 4,353,959 4,359,083 4,238,930 4,049,893 
Consumer1,252,225 1,233,797 1,240,743 1,217,297 1,162,989 
Commercial and industrial576,247 553,098 569,921 534,960 507,685 
Construction278,425 225,996 211,560 243,571 313,646 
Agriculture production61,337 47,062 61,414 71,599 71,373 
Leases8,582 8,509 7,726 7,933 7,835 
Total loans, gross6,520,740 6,422,421 6,450,447 6,314,290 6,113,421 
Allowance for credit losses(117,329)(108,407)(105,680)(101,488)(97,944)
Total loans, net6,403,411 6,314,014 6,344,767 6,212,802 6,015,477 
Premises and equipment72,619 72,096 72,327 73,266 73,811 
Cash value of life insurance135,332 134,544 133,742 132,933 132,857 
Accrued interest receivable32,835 31,388 31,856 27,070 25,861 
Goodwill304,442 304,442 304,442 307,942 307,942 
Other intangible assets13,358 15,014 16,670 18,372 20,074 
Operating leases, right-of-use29,140 30,000 26,862 26,622 27,154 
Other assets257,056 252,566 257,975 262,971 224,536 
Total assets$9,853,421 $9,842,394 $9,930,986 $9,976,879 $10,120,611 
Deposits:
Noninterest-bearing demand deposits$3,073,353 $3,236,696 $3,502,095 $3,678,202 $3,604,237 
Interest-bearing demand deposits1,751,998 1,635,706 1,718,541 1,749,123 1,796,580 
Savings deposits2,778,118 2,807,796 2,884,378 2,924,674 3,028,787 
Time certificates491,896 345,667 223,999 303,770 327,171 
Total deposits8,095,365 8,025,865 8,329,013 8,655,769 8,756,775 
Accrued interest payable3,655 1,643 1,167 853 755 
Operating lease liability31,377 32,228 29,004 28,717 29,283 
Other liabilities136,464 157,222 159,741 153,110 155,529 
Other borrowings392,714 434,140 264,605 47,068 35,089 
Junior subordinated debt101,065 101,051 101,040 101,024 101,003 
Total liabilities8,760,640 8,752,149 8,884,570 8,986,541 9,078,434 
Common stock695,305 695,168 697,448 696,348 696,441 
Retained earnings578,852 564,538 542,873 516,699 491,705 
Accum. other comprehensive loss, net of tax(181,376)(169,461)(193,905)(222,709)(145,969)
Total shareholders’ equity$1,092,781 $1,090,245 $1,046,416 $990,338 $1,042,177 
Quarterly Average Balance Data
Average loans, excluding PPP$6,465,903 $6,412,386 $6,357,250 $6,162,267 $5,890,578 
Average interest-earning assets$9,022,064 $9,028,061 $9,076,450 $9,320,152 $9,330,059 
Average total assets$9,848,191 $9,878,927 $9,932,931 $10,131,118 $10,121,714 
Average deposits$7,981,515 $8,218,576 $8,545,172 $8,752,215 $8,743,320 
Average borrowings and subordinated debt$578,312 $378,676 $186,957 $139,919 $136,244 
Average total equity$1,112,223 $1,087,473 $1,016,468 $1,074,776 $1,091,454 
Capital Ratio Data
Total risk-based capital ratio14.5 %14.5 %14.2 %14.0 %14.1 %
Tier 1 capital ratio12.7 %12.7 %12.4 %12.2 %12.3 %
Tier 1 common equity ratio12.0 %12.0 %11.7 %11.4 %11.5 %
Tier 1 leverage ratio10.4 %10.2 %10.1 %9.6 %9.3 %
Tangible capital ratio (1)8.1 %8.1 %7.6 %6.9 %7.3 %

(1) Non-GAAP measure

16

TRICO BANCSHARES—NON-GAAP FINANCIAL MEASURES
(Unaudited. Dollars in thousands)

In addition to results presented in accordance with generally accepted accounting principles in the United States of America (GAAP), this press release contains certain non-GAAP financial measures. Management has presented these non-GAAP financial measures in this press release because it believes that they provide useful and comparative information to assess trends in the Company's core operations reflected in the current quarter's results and facilitate the comparison of our performance with the performance of our peers. However, these non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP. Where applicable, comparable earnings information using GAAP financial measures is also presented. Because not all companies use the same calculations, our presentation may not be comparable to other similarly titled measures as calculated by other companies. For a reconciliation of these non-GAAP financial measures, see the tables below:
Three months endedSix months ended
(dollars in thousands)June 30,
2023		March 31,
2023		June 30,
2022		June 30,
2023		June 30,
2022
Net interest margin
Acquired loans discount accretion, net:
Amount (included in interest income)$1,471$1,397$1,677$2,868$3,000
Effect on average loan yield0.09 %0.09 %0.11 %0.09 %0.11 %
Effect on net interest margin (FTE)0.07 %0.06 %0.07 %0.06 %0.07 %
Net interest margin (FTE)3.96 %4.21 %3.67 %4.08 %3.54 %
Net interest margin less effect of acquired loan discount accretion (Non-GAAP)3.89 %4.15 %3.60 %4.02 %3.47 %
PPP loans yield, net:
Amount (included in interest income)$4$5$964$9$2,061
Effect on net interest margin (FTE)— %— %0.03 %— %0.03 %
Net interest margin less effect of PPP loan yield (Non-GAAP)3.96 %4.21 %3.64 %4.08 %3.51 %
Acquired loan discount accretion and PPP loan yield, net:
Amount (included in interest income)$1,475$1,402$2,641$2,877$5,061
Effect on net interest margin (FTE)0.07 %0.06 %0.10 %0.06 %0.10 %
Net interest margin less effect of acquired loan discount accretion and PPP yields, net (Non-GAAP)3.89 %4.15 %3.57 %4.02 %3.44 %

Three months endedSix months ended
(dollars in thousands)June 30,
2023		March 31,
2023		June 30,
2022		June 30,
2023		June 30,
2022
Pre-tax pre-provision return on average assets or equity
Net income (GAAP)$24,892$35,833$31,364$60,725$51,738
Exclude provision for income taxes8,55713,14911,74821,70619,617
Exclude provision for credit losses9,6504,1952,10013,84510,430
Net income before income tax and provision expense (Non-GAAP)$43,099$53,177$45,212$96,276$81,785
Average assets (GAAP)$9,848,191$9,878,927$10,121,714$9,863,471$9,453,696
Average equity (GAAP)$1,112,223$1,087,473$1,091,454$1,099,913$1,050,566
Return on average assets (GAAP) (annualized)1.01 %1.47 %1.24 %1.24 %1.10 %
Pre-tax pre-provision return on average assets (Non-GAAP) (annualized)1.76 %2.18 %1.79 %1.97 %1.74 %
Return on average equity (GAAP) (annualized)8.98 %13.36 %11.53 %11.13 %9.93 %
Pre-tax pre-provision return on average equity (Non-GAAP) (annualized)15.54 %19.83 %16.61 %17.65 %15.70 %


17

Three months endedSix months ended
(dollars in thousands)June 30,
2023		March 31,
2023		June 30,
2022		June 30,
2023		June 30,
2022
Return on tangible common equity
Average total shareholders' equity$1,112,223$1,087,473$1,091,454$1,099,913$1,050,566
Exclude average goodwill304,442304,442307,942334,565267,533
Exclude average other intangibles14,71615,84221,0401616,845
Average tangible common equity (Non-GAAP)$793,065$767,189$762,472$765,332$766,188
Net income (GAAP)$24,892$35,833$31,364$60,725$51,738
Exclude amortization of intangible assets, net of tax effect1,1661,1661,1992,3332,064
Tangible net income available to common shareholders (Non-GAAP)$26,058$36,999$32,563$63,058$53,802
Return on average equity8.98 %13.36 %11.53 %11.13 %9.93 %
Return on average tangible common equity (Non-GAAP)13.18 %19.56 %17.13 %16.62 %14.16 %
Three months ended
(dollars in thousands)June 30,
2023		March 31,
2023		December 31,
2022		September 30,
2022		June 30,
2022
Tangible shareholders' equity to tangible assets
Shareholders' equity (GAAP)$1,092,781$1,090,245$1,046,416$990,338$1,042,177
Exclude goodwill and other intangible assets, net317,800319,456321,112326,314328,016
Tangible shareholders' equity (Non-GAAP)$774,981$770,789$725,304$664,024$714,161
Total assets (GAAP)$9,853,421$9,842,394$9,930,986$9,976,879$10,120,611
Exclude goodwill and other intangible assets, net317,800319,456321,112326,314328,016
Total tangible assets (Non-GAAP)$9,535,621$9,522,938$9,609,874$9,650,565$9,792,595
Shareholders' equity to total assets (GAAP)11.09 %11.08 %10.54 %9.93 %10.30 %
Tangible shareholders' equity to tangible assets (Non-GAAP)8.13 %8.09 %7.55 %6.88 %7.29 %

Three months ended
(dollars in thousands)June 30,
2023		March 31,
2023		December 31,
2022		September 30,
2022		June 30,
2022
Tangible common shareholders' equity per share
Tangible s/h equity (Non-GAAP)$774,981$770,789$725,304$664,024$714,161
Common shares outstanding at end of period33,259,260 33,195,250 33,331,513 33,332,189 33,350,974 
Common s/h equity (book value) per share (GAAP)$32.86$32.84$31.39$29.71$31.25
Tangible common shareholders' equity (tangible book value) per share (Non-GAAP)$23.30$23.22$21.76$19.92$21.41


*****************
18
Investor Presentation Second Quarter 2023 Richard P. Smith, President & Chief Executive Officer Peter G. Wiese, EVP & Chief Financial Officer Dan K. Bailey, EVP & Chief Banking Officer John S. Fleshood, EVP & Chief Operating Officer Exhibit 99.2

 
Safe Harbor Statement Investor Presentation | Second Quarter 20232 The statements contained herein that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond our control. There can be no assurance that future developments affecting us will be the same as those anticipated by management. We caution readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward- looking statements. These risks and uncertainties include, but are not limited to, the following: the strength of the United States economy in general and the strength of the local economies in which we conduct operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation, interest rate, market and monetary fluctuations impacts on the Company's business condition and financial operating results; the impact of changes in financial services industry policies, laws and regulations; regulatory restrictions on our ability to successfully market and price our products to consumers; technological changes; weather, natural disasters and other catastrophic events that may or may not be caused by climate change and their effects on economic and business environments in which the Company operates; the impact of a slowing U.S. economy and potentially increased unemployment on the performance of our loan portfolio, the market value of our investment securities, the availability of, and cost of, sources of funding and the demand for our products; adverse developments with respect to U.S. or global economic conditions and other uncertainties, including the impact of supply chain disruptions, commodities prices, inflationary pressures and labor shortages on the economic recovery and our business; the impacts of international hostilities, terrorism or geopolitical events; adverse developments in the financial services industry generally such as the recent bank failures and any related impact on depositor behavior or investor sentiment; risks related to the sufficiency of liquidity; the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; the costs or effects of mergers, acquisitions or dispositions we may make, as well as whether we are able to obtain any required governmental approvals in connection with any such activities, or identify and complete favorable transactions in the future, and/or realize the contemplated financial business benefits; the regulatory and financial impacts associated with exceeding $10 billion in total assets; the negative impact on our reputation and profitability in the event customers experience economic harm or in the event that regulatory violations are identified; the ability to execute our business plan in new lending markets; the future operating or financial performance of the Company, including our outlook for future growth and changes in the level and direction of our nonperforming assets and charge-offs; the appropriateness of the allowance for credit losses, including the timing and effects of the implementation of the current expected credit losses model; any deterioration in values of California real estate, both residential and commercial; the effectiveness of the Company's asset management activities in improving, resolving or liquidating lower-quality assets; the effect of changes in the financial performance and/or condition of our borrowers; changes in accounting standards and practices; possible other-than-temporary impairment of securities held by us due to changes in credit quality or rates; changes in consumer spending, borrowing and savings habits; our ability to attract and maintain deposits and other sources of liquidity; the effects of changes in the level or cost of checking or savings account deposits on our funding costs and net interest margin; increasing noninterest expense and its impact on our efficiency ratio; competition and innovation with respect to financial products and services by banks, financial institutions and non-traditional providers including retail businesses and technology companies; the challenges of attracting, integrating and retaining key employees; the vulnerability of the Company's operational or security systems or infrastructure including the impact of the recent cyber security ransomware incident on our operations and reputation, the systems of third-party vendors or other service providers with whom the Company contracts, and the Company's customers to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and data/security breaches and the cost to defend against and respond to such incidents; increased data security risks due to work from home arrangements and email vulnerability; failure to safeguard personal information; the effect of a fall in stock market prices on our brokerage and wealth management businesses; the transition away from the London Interbank Offered Rate toward new interest rate benchmarks; the costs and effects of litigation and of unexpected or adverse outcomes in such litigation; and our ability to manage the risks involved in the foregoing. Additional factors that could cause results to differ materially from those described above can be found in our Annual Report on Form 10-K for the year ended December 31, 2022, which has been filed with the Securities and Exchange Commission (the “SEC”) and all subsequent filings with the SEC under Sections 13(a), 13(c), 14, and 15(d) of the Securities Act of 1934, as amended. Such filings are also available in the “Investor Relations” section of our website, https://www.tcbk.com/investor-relations and in other documents we file with the SEC. Annualized, pro forma, projections and estimates are not forecasts and may not reflect actual results. We undertake no obligation (and expressly disclaim any such obligation) to update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

 
Tri Counties Bank Investor Presentation | Second Quarter 20233

 
Agenda • Most Recent Quarter Recap • Company Overview • Lending Overview • Deposit Overview • Financials 4 • Judi Giem, SVP & Chief Human Resources Officer • Peter Wiese, EVP & Chief Financial Officer • Dan Bailey, EVP & Chief Banking Officer • Rick Smith, President & Chief Executive Officer • John Fleshood, EVP & Chief Operating Officer • Craig Carney, EVP & Chief Credit Officer • Greg Gehlmann, SVP & General Counsel Executive Team (left to right) 4 Investor Presentation | Second Quarter 2023

 
Most Recent Quarter Highlights Investor Presentation | Second Quarter 20235 Operating Leverage and Profitability • Pre-tax pre-provision ROAA and ROAE were 1.76% and 15.54%, respectively, for the quarter ended June 30, 2023, and 1.74% and 15.70%, respectively, for the same quarter in the prior year • Our efficiency ratio was 58.7% for the quarter ended June 30, 2023, compared to 51.8% and 55.4% for the quarters ended December 31, 2022 and June 30, 2022, respectively Balance Sheet Management • Total loans and total deposits grew by an annualized 6.1% and 3.5%, respectively • Loan to deposit ratio has grown to 80.6% at June 30, 2023 compared to 69.8% a year ago • Cash flows generated from investment securities continue to reduce short-term borrowing needs • Unrealized losses on HTM investment securities, and not recognized in equity through AOCI, represent less than 1% of total shareholders’ equity Liquidity • Readily available and unused funding sources, which total approximately $4.4 billion and represent 54% of total deposits and 174% of total estimated uninsured deposits. • No reliance on brokered deposits or FRB borrowing facilities during the 2023 or 2022 Net Interest Income and Margin • Net interest margin (FTE) of 3.96%, compared to 4.21% in the trailing quarter, and 3.67% in the quarter ended June 30, 2022, was influenced by the rising rate environment and balance sheet augmentation • The loan portfolio yields increased 17 basis points to 5.38% during the quarter • Yield on earning assets (FTE) of 4.78% in the quarter, an increase of 14 basis points from 4.64% in the trailing quarter, partially offset increased funding costs in both deposits and borrowings Credit Quality • The allowance for credit losses to total loans was 1.80% as of June 30, 2023, compared to 1.64% as of December 31, 2022, and 1.60% as of June 30, 2022 • Management continues to actively monitor the entire portfolio and while nonaccrual and classified loans increased, no evidence of systemic or industry specific risks have been identified • Overall portfolio credit trends remain below historic averages with loans past due 30+ days to total loans of 0.15% at quarter end Diverse Deposit Base • Non-interest-bearing deposits comprised 38.0% of total deposits • Deposit betas remain low with a cycle-to-date deposit beta of 10.8% Capital Strategies • Quarterly dividend of $0.30 or $1.20 annually • Approximately 1.2 million shares remain as being authorized for repurchase • Tangible capital ratio of 8.1% at June 30, 2023, an increase from 7.3% in the same quarter of the prior year • Strength in core earnings is key to self-financed and self-funded growth

 
Company Overview Investor Presentation | Second Quarter 20236 Nasdaq: TCBK Headquarters: Chico, California Stock Price*: $33.20 Market Cap.: $1.10 Billion Asset Size: $9.85 Billion Loans: $6.52 Billion Deposits: $8.10 Billion Bank Branches: 69 ATMs: 87 Bank ATMs, with access to ~ 40,000 in network Market Area: TriCo currently serves 31 counties throughout California • As of close of business June 30, 2023

 
Key Executive Management Themes and Topics 7 “Top of Mind for Today and Tomorrow” • New Customer Relationships – Offensive Strategies While Seeking to Drive Alpha and Protect Beta • Active Monitoring of Loans for Early Warning Signs While Maintaining Sufficient Reserves • Terminal Interest Rate and Duration of Inversion • Credit Cycle – When it Will Come, How Long Will it Last, and How Deep Will it Get • Capital – Balance of Regulatory and Shareholder Expectations • Scaling and Leverage – Meticulously Patient in Finding the Right Partner at the Right Time to Cross $10 Billion in Total Assets • Rationalization of Talent Acquisition and Other Operating Costs • Regulatory Focus Areas – Compliance, Data Governance and M&A Investor Presentation | Second Quarter 2023

 
Q1'18 Q2'18 Q3'18 Q4'18 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Net Income ($MM) $13.9 $15.0 $16.2 $23.2 $22.7 $23.1 $23.4 $22.9 $16.1 $7.4 $17.6 $23.6 $33.6 $28.4 $27.4 $28.2 $20.4 $31.4 $37.3 $36.3 $35.8 $24.9 Qtrly Diluted EPS $0.60 $0.65 $0.53 $0.76 $0.74 $0.75 $0.76 $0.75 $0.53 $0.25 $0.59 $0.79 $1.13 $0.95 $0.92 $0.94 $0.67 $0.93 $1.12 $1.09 $1.07 $0.75 $0.00 $0.40 $0.80 $1.20 $0 $4 $8 $12 $16 $20 $24 $28 $32 $36 $40 Q tr ly E P S ( di lu te d) E a rn in gs ( in M ill io n s) Positive Earnings Track Record Investor Presentation | Second Quarter 20238 July 2018 Acquired FNB Bancorp ($1.2B assets) March 2022 Acquired Valley Republic Bancorp ($1.4B assets) 2020 Elevated ACL Provisioning Associated with COVID Related Risks

 
$0.52 $0.60 $0.74 $0.53 $1.13 $0.67 $1.07 $0.58 $0.65 $0.75 $0.25 $0.95 $0.93 $0.75 $0.51 $0.53 $0.76 $0.59 $0.92 $1.12 $0.76 $0.75 $0.79 $0.94 $1.09 $1.74 $2.54 $3.00 $2.16 $3.94 $3.83 $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 $5.00 2017 2018 2019 2020 2021 2022 2023 Q1 Q2 Q3 Q437% 27% 27% 41% 25% 29% 33% 2017 2018 2019 2020 2021 2022 2023 8.10% 10.75% 10.49% 7.18% 12.10% 11.67% 11.13% 2017 2018 2019 2020 2021 2022 2023 $0.15 $0.17 $0.19 $0.22 $0.25 $0.25 $0.30 $0.17 $0.17 $0.19 $0.22 $0.25 $0.25 $0.30 $0.17 $0.17 $0.22 $0.22 $0.25 $0.30 $0.17 $0.19 $0.22 $0.22 $0.25 $0.30 $0.66 $0.70 $0.82 $0.88 $1.00 $1.10 $0.00 $0.25 $0.50 $0.75 $1.00 $1.25 2017 2018 2019 2020 2021 2022 2023 Q1 Q2 Q3 Q4 Shareholder Returns Investor Presentation | Second Quarter 20239 Dividends per Share: 11.4% CAGR* Dividends as % of Earnings Return on Avg. Shareholder Equity Diluted EPS • Compound Annual Growth Rate, 5 years 2023 ROE results YTD annualized

 
Consistent Growth Investor Presentation | Second Quarter 202310 Organic Growth and Disciplined Acquisitions  Asset Dollars in Billions. 5 yrs. 10 yrs. 15.2% 13.2% CAGR, Assets Trailing 10 years Trailing 5 quarters

 
11 Investor Presentation | Second Quarter 2023 Deposits 11

 
Liability Mix: Strength in Funding Investor Presentation | Second Quarter 202312 Total Deposits = $8.10 billion 94.3% of Funding Liabilities Liability Mix 06/30/2023  Peer group consists of 99 closest peers in terms of asset size, range $4.7-11.5 Billion; source: BankRegData.com  Net Loans includes LHFS and Allowance for Credit Loss; Core Deposits = Total Deposits less CDs > 250k and Brokered Deposits (0.03% Funding Cost) Non Interest- bearing Demand Deposits, 35.1% Interest-bearing Demand & Savings Deposits, 51.7% Time Deposits, 5.6% Borrowings & Subordinated Debt, 5.6% Other liabilities, 2.0% 8 1 .6 7 6 .9 7 5 .9 7 2 .6 7 1 .8 7 0 .1 6 6 .9 6 6 .0 6 6 .4 6 9 .1 7 2 .1 7 6 .5 7 9 .5 8 0 .4 0 20 40 60 80 100 120 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 Loans to Core Deposits (%) TCBK Peers 3 9 .8 3 9 .7 3 9 .7 4 0 .3 4 0 .7 4 0 .7 4 0 .4 4 1 .1 4 1 .2 4 2 .5 4 2 .0 4 0 .3 3 8 .0 0 10 20 30 40 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 Non Interest-bearing Deposits as % of Total Deposits TCBK Peers

 
Deposits: Strength in Cost of Funds Investor Presentation | Second Quarter 202313  Balances presented in millions, end of period  Relationship focused pricing for retention and acquisition  Continued best in class total deposit Beta, 10.8% cycle to date $399 $376 $345 $328 $324 $327 $298 $349 $327 $304 $224 $346 $492 $3,363 $3,446 $3,580 $3,769 $3,824 $3,967 $4,090 $4,783 $4,825 $4,674 $4,603 $4,443 $4,530 $2,487 $2,518 $2,582 $2,767 $2,844 $2,943 $2,980 $3,583 $3,604 $3,678 $3,502 $3,237 $3,073$6,248 $6,341 $6,506 $6,863 $6,992 $7,237 $7,367 $8,714 $8,757 $8,656 $8,329 $8,026 $8,095 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23

 
$186 $178 $134 $132 $310 - 100 200 300 400 500 600 700 800 $0-$100k >$100k-$250k >$250k - $500k >$500k - $1mln >$1mln $236 $214 $210 $205 $720 - 100 200 300 400 500 600 700 800 $390 $274 $188 $138 $266 - 100 200 300 400 500 600 700 800 $618 $393 $273 $181 $356 - 100 200 300 400 500 600 700 800 G re a te r C h ic o $712 $380 $196 $126 $138 - 100 200 300 400 500 600 700 800 Prior Quarter N o rt h er n Deposits by Region Investor Presentation | Second Quarter 202314  Excludes bank owned operational deposits, public funds, and Direct Banking division. $1.552 billion, total $1.821 billion, total $1.256 billion, total $1.585 billion, total $0.940 billion, total S a cr am en to V a lle y C e nt ra l V a lle y B a y A re a

 
# 34,961 # 204,380 Deposits: Demand & Savings Deposit Mix Investor Presentation | Second Quarter 202315 [1] Excludes time deposits, bank owned operational deposits and public funds. 486 495 462 474 1,431 1,656 944 539 308 359 Consumer Business Prior Quarter, Total Balance Tier, $ millions [1]Total Demand & Savings ($ millions exterior, count interior) Business $3,348 Consumer $3,806

 
$2,497 $1,814 $80 Liquidity Sources [1] Total Borrow Capacity Unpledged Securities AFS Cash Liquidity Investor Presentation | Second Quarter 202316 [1] $ millions, as of 6/30/2023, cash based upon total held at or in transit with FRB [2] Based upon estimated uninsured deposits reported in Call Report schedule RC-O includes demand and time deposits [3] Peer group consists of closest 99 peers in terms of assets, sourced from BankRegData.com $4.4 Billion 174% of estimated uninsured deposits  In addition to a strong deposit base, the bank maintains a variety of easily accessible funding sources 77.2 74.1 74.0 73.2 72.7 72.5 71.2 70.3 66.3 66.3 66.5 67.6 71.2 68.9 67.3 66.5 65.6 64.9 63.8 63.6 63.7 62.8 62.1 62.6 62.7 64.5 69.7 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 Insured Deposits as % of Total Deposits [2][3] TCBK Peers 33.9 35.9 31.6 25.2 21.5 21.9 19.0 17.6 18.6 19.8 21.8 22.8 25.2 25.1 42.9 45.1 43.4 40.1 37.5 37.2 35.7 34.2 36.5 35.6 35.1 39.1 49.7 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 Pledged Securities as % of Total Securities [3] TCBK Peers

 
Investor Presentation | Second Quarter 2023 Loans and Credit Quality 1717

 
Loan Portfolio and Yield Investor Presentation | Second Quarter 202318  Q1 2021 increase includes $98MM Jumbo Mortgage pool purchase  End of period balances are presented net of fees and include LHFS. Yields based on average balance and annualized quarterly interest income.  Acquired VRB Loans of $795MM upon 3/25/2022 with a WAR of 4.31%. VRB total included $21MM of PPP loans. $4,022 $4,111 $4,381 $4,386 $4,407 $4,443 $4,610 $4,711 $4,739 $4,859 $5,796 $6,097 $6,313 $6,452 $6,422 $6,521 5.24% 5.44% 5.23% 5.05% 4.78% 5.09% 5.15% 4.86% 4.92% 4.96% 4.69% 4.73% 4.88% 5.10% 5.21% 5.38% 3.50% 4.50% 5.50% 6.50% $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 2018 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1-2022 Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 Non-PPP PPP Loans Loan Yield Loan Yield Excl PPP

 
Gross Production vs. Payoff Investor Presentation | Second Quarter 202319  Outstanding Principal in Millions, excludes PPP  Includes Q1 2021 increase of $98MM and Q4 2020 increase of $40MM in Jumbo Mortgage pool purchases  $800MM in outstanding at close of Q1-2022 related to VRB Acquisitions ($795MM at acquisition) excluded from the chart TCBK originated nearly $1.5 billion in 2021, while facing headwinds of an increased $372 million in payoffs during 2021. In addition to the nearly $0.8 billion in non-PPP loan originations in 2020, TCBK originated over $0.4 billion in PPP loans. Originations and net loan growth in 2022 were supportive of the positive mix shift in earning assets and facilitated both NII and NIM expansion. $178 $199 $165 $250 $464 $285 $303 $412 $396 $473 $446 $250 $159 $170 -$118 -$139 -$131 -$166 -$241 -$192 -$243 -$250 -$225 -$205 -$270 -$110 -$92 -$107 $6 -$56 -$20 -$47 -$59 $6 -$33 -$47 $4 $33 $42 -$4 -$94 $38 Q1-2020 Q2-2020 Q3-2020 Q4-2020 Q1-2021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 Origination Payoffs Balance Change net of Originations and Payoffs

 
CRE Non-Owner Occupied 33% CRE-Owner Occupied 15%Multifamily 15% SFR 1-4 Term 13% Commercial & Industrial 9% SFR HELOC and Junior Liens 5% Construction 4% Agriculture & Farmland 5% Auto & Other 1% $2,143 $1,997 $972 $926 $952 $870 $830 $720 $576 $500 $364 $384 $278 $318 $338 $324 $59 $58 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 C R E N o n - O w n e r O cc u p ie d C R E - O w n e r O cc u p ie d M u lti fa m ily S F R 1 -4 T e rm C o m m e rc ia l & In d u st ri al S F R H E L O C a n d Ju n io r L ie n s C o n st ru ct io n A g ric u ltu re & F a rm la n d A u to & O th e r Diversified Loan Portfolio Investor Presentation | Second Quarter 202320  Dollars in millions, Net Book Value at period end, excludes LHFS;  Auto & other includes Leases; Commercial & Industrial includes six Municipality Loans for $20.8 mln.

 
Office RE Collateral Investor Presentation | Second Quarter 202321  Graph circle size represent total loan Commitments in the Region; regional assignment based upon zip code of collateral  CRE loans secured by office collateral represents 9.5% of total Loan Portfolio Commitments. TCBK Community Banking Regions Loan Count Commitments Net Book Balance Net Book Balance (Avg) Wtd Avg LTV Central Valley 300 $ 317,958,535 $ 283,282,622 $ 944,275 60.8% Bay Area 122 172,467,814 159,587,259 1,308,092 51.3% Sacramento Valley 174 166,161,645 157,652,063 906,046 60.0% Chico 111 69,120,224 65,295,151 588,245 64.5% Southern 31 54,535,429 48,517,250 1,565,073 60.4% Northern 80 32,587,440 29,511,680 368,896 59.3% Outside CA 16 20,365,014 20,303,502 1,268,969 56.0% Total 834 $833,196,102 $764,149,526 $916,246 58.8% California Office Secured by Region Regions by Collateral Code Regions by Occupancy Type

 
70% 51% 79% 62% 89% 71% 39% 48% 28% 46% 21% 38% 11% 25% 60% 45% 2% 3% 0% 0% 0% 4% 1% 7% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Retail Building Office Building Hotel/Motel Light Industrial Self Storage Other Multifamily CRE Owner Occupied <= 60% > 60% - 75% > 75% CRE Collateral Values Investor Presentation | Second Quarter 202322 Distribution by LTV (1) LTV Range (1) LTV as of most recent origination or renewal date. CRE Non-Owner Occupied by Collateral Type

 
Unfunded Loan Commitments Investor Presentation | Second Quarter 202323 HELOCs – by vintage, with weighted avg. coupon (7.70% total WAC)  Outstanding Principal and Commitments exclude unearned fees and discounts/premiums, Leases, DDA Overdraft, and Credit Cards  PPP Excluded from C&I for $0.5 million and $10 million in Outstanding Principal as of Q2 2023 and Q2 2022, respectively. 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% $0 $25 $50 $75 $100 $125 $150 $175 $200 $225 $250 20232022202120202019201820172016201520142013201220112010<2010 Private Balance (MM) Unfunded (MM) WA Rate 9.15% 6.65%6.53% 7.91% 8.48% 8.92%8.70%8.66%8.59%8.74%8.73% 7.98% 9.14% 8.34%8.45% $2,164 $2,020 $956 $875 $361 $382 $572 $493 $980 $934 $832 $722 $283 $321 $343 $329 $56 $57 $173 $170 $57 $45 $656 $576 $653 $547 $63 $49 $372 $287 $276 $232 $8 $9 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 2Q-2023 2Q-2022 CRE Non-Owner Occupied Multifamily SFR HELOC and Junior Liens Commercial & Industrial CRE-Owner Occupied SFR 1-4 Term Construction Agriculture & Farmland Auto & Other Outstanding Principal ($MM) Unfunded Commitment ($MM)

 
C&I Utilization Investor Presentation | Second Quarter 202324  Excludes PPP loans; Outstanding Principal excludes unearned fees and discounts/premiums ($ millions)  C&I yield is expected to grow incrementally through the remainder of 2023.  Paired with treasury management services, C&I customers will be a continued source of noninterest bearing deposits. C&I Utilization by NAICS Industry: 2Q-2023 $203 $48 $62 $70 $51 $13 $28 $10 $64 $198 $84 $48 $48 $24 $52 $11 $14 $175 51% 36% 57% 60% 68% 21% 71% 43% 27% 0% 5000% 10000% 15000% 20000% Oil & Gas Extraction Construction Finance and Insurance Wholesale Real Estate Healthcare Trans and Warehouse Retail Trade Other (14 Categories) Outstanding (mln) Unfunded (mln) $205 $197 $187 $206 $186 $191 $448 $476 $509 $544 $527 $550 $273 $372 $384 $360 $353 $339 $552 $547 $603 $593 $628 $653 43% 35% 33% 36% 35% 36% 45% 47% 46% 48% 46% 46% 5.10% 4.91% 4.85% 4.84% 4.97% 4.96% 4.46% 5.12% 6.11% 6.79% 7.31% 7.60% 0% 1% 2% 3% 4% 5% 6% 7% 8% $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 3Q-2020 4Q-2020 1Q-2021 2Q-2021 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 Outstanding Principal ($MM) Unfunded Commitment Utilization WAR

 
Loan Yield Composition Investor Presentation | Second Quarter 202325  Dollars in millions, excludes PPP as well as unearned fees and accretion/amortization therein  Wtd Avg Rate (weighted average rate) as of 06/30/2023 and based upon outstanding principal; Next Reprice signifies either the next scheduled reprice date or maturity. 99% of Floating benchmarked to Prime Predominantly benchmarked to 5 Year Treasury 56% Adjustable + Floating $872 $234 $301 $442 $642 $662 $620 8.95% 5.74% 4.66% 4.32% 4.24% 5.03% 4.32% 8.89% 7.21% 6.97% 7.07% 6.98% 6.69% 6.71% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% - 100 200 300 400 500 600 700 800 900 1,000 Monthly (Floating) < 1 Year 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years > 5 Years Adjustable Loans, Principal Outstanding ($MM) Adj Wtd Avg Rate Adj Wtd Avg Rate if Repriced 06/30/2023 Fixed 44% Adjustable 43% Floating 13%

 
Allowance for Credit Losses Investor Presentation | Second Quarter 202326 Drivers of Change under CECL  Loan portfolio growth of $98 million in Q2  Econometric factors for Unemployment and Corporate BBB yield driving increase in reserve rate  Gross charge-offs $0.276 million  Gross recoveries $0.218 million 1.69% of Total Loans 1.80% of Total Loans  Two relationships added to the specifically analyzed population account for $6.107MM in new reserve  Excludes gross charge-offs Scaled to reflect $100MM

 
Allowance for Credit Losses Investor Presentation | Second Quarter 202327 Allocation of Allowance by Segment

 
Risk Grade Migration Investor Presentation | Second Quarter 202328  Zero balance in Doubtful and Loss 87.8%87.8%89.0%87.8%87.6%89.6% 8.8%9.2%8.0%9.7%9.5%7.8% 2.4%2.0%2.0%1.8%2.1%1.6% 1.0%1.0%1.1%0.8%0.8%1.1% 2Q-20231Q-20234Q-20223Q-20222Q-20221Q-2022 Pass Watch Special Mention Substandard

 
385% 395% 342% 297% 263% 293% 281% 690% 831% 586% 501% 686% 320% 20 2% 19 1% 17 9% 18 7% 19 4% 19 7% 21 0% 21 7% 31 0% 32 2% 30 5% 31 5% 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 TCBK Peers Asset Quality Investor Presentation | Second Quarter 202329  Peer group consists of 99 closest peers in terms of asset size, range $6.0-13.7 Billion, source: BankRegData.com  NPA and NPL ratios displayed are net of guarantees. Peer Data for NPA update from Q1-2021 forward. Coverage Ratio: Allowance as % of Non-Performing Loans  Overall portfolio credit trends remain below historic averages with loans past due 30+ days to total loans of 0.15% at quarter end.  Over the past three years both the Bank’s total non-performing assets and coverage ratio have remained better than peers. Non-Performing Assets as a % of Total Assets 0.31% 0.33% 0.38% 0.38% 0.42% 0.37% 0.38% 0.17% 0.15% 0.21% 0.25% 0.20% 0.40% 0.53% 0.58% 0.75% 0.68% 0.64% 0.60% 0.50% 0.46% 0.34% 0.34% 0.32% 0.37% 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 TCBK Peers

 
Financials 3030 Investor Presentation | Second Quarter 2023

 
Net Interest Income (NII) and Margin (NIM) Investor Presentation | Second Quarter 202331

 
Net Interest Income (NII) and Margin (NIM) Investor Presentation | Second Quarter 202332

 
0.89% 1.24% 1.43% 0.91% 1.43% 1.28% 1.24% 2017 2018 2019 2020 2021 2022 2023 1.70% 1.73% 1.94% 1.83% 1.91% 1.97% 1.97% 2017 2018 2019 2020 2021 2022 2023 65.4% 63.7% 59.7% 58.4% 53.2% 53.0% 54.4% 2017 2018 2019 2020 2021 2022 2023 4.22% 4.30% 4.47% 3.96% 3.58% 3.88% 4.08% 2017 2018 2019 2020 2021 2022 2023 Current Operating Metrics Investor Presentation | Second Quarter 202333 Net Interest Margin (FTE) PPNR as % of Average Assets Efficiency Ratio ROAA  2023 values through the six months ended 6/30/2023, annualized where applicable

 
11.7% 12.5% 13.3% 12.9% 13.2% 11.7% 12.0% 2017 2018 2019 2020 2021 2022 2023 13.2% 13.7% 14.4% 14.0% 14.2% 12.4% 12.7% 2017 2018 2019 2020 2021 2022 2023 14.1% 14.4% 15.1% 15.2% 15.4% 14.2% 14.5% 2017 2018 2019 2020 2021 2022 2023 9.3% 9.5% 10.6% 9.3% 9.2% 7.6% 8.1% 2017 2018 2019 2020 2021 2022 2023 Well Capitalized Investor Presentation | Second Quarter 202334 Tier 1 Capital Ratio Total Risk Based Capital CET1 Ratio Tangible Capital Ratio  2023 values at quarter ended 6/30/2023

 
XYZ Investor Presentation | Second Quarter 202335 Pending update – no material change to format

 
v3.23.2
Cover
Jul. 26, 2023
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jul. 26, 2023
Entity Registrant Name TriCo Bancshares
Entity Incorporation, State or Country Code CA
Entity File Number 0-10661
Entity Tax Identification Number 94-2792841
Entity Address, Address Line One 63 Constitution Drive
Entity Address, City or Town Chico,
Entity Address, State or Province CA
Entity Address, Postal Zip Code 95973
City Area Code 530
Local Phone Number 898-0300
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, no par value
Trading Symbol TCBK
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0000356171
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