Company Profile
- TriCo Bancshares (NASDAQ: TCBK) (“TriCo” or “the company”), is a community-oriented bank holding company, headquartered in Chico, CA providing retail and commercial banking products and services through its subsidiary, Tri Counties Bank (“the bank”). The bank operates an efficient 68 retail branch network and eight loan production offices serving 31 counties primarily in north and central California.
- The company’s growth strategy focuses on organic expansion, supplemented with disciplined acquisitions designed to achieve market share and footprint extensions. The latter facilitated the company’s expansion in the Central Valley of California through the acquisition of Valley Republic Bancorp (VRB) closed in March 2022. In a more constructive economic environment, management is expected to have some appetite for strategic M&A transaction that would facilitate crossing the $10 billion threshold.
- TCBK’s loan portfolio remains primarily funded…