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TCBK Trico Bancshares

TriCo Bancshares is a bank holding company, which engages in the provision of banking services to retail customers and small to medium-sized businesses. It offers personal and business accounts; personal and business loans and credit; and personal and business services. The company was founded on October 13, 1981 and is headquartered in Chico, CA.

Company profile

Ticker
TCBK
Exchange
Website
CEO
Richard P. Smith
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
TRICO BANCSHARES
SEC CIK
IRS number
942792841

TCBK stock data

(
)

Calendar

1 Mar 21
22 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Dec 20 Fleshood John Common Stock Option exercise Aquire M No No 0 2,678 0 17,579.85
1 Dec 20 Fleshood John RSU Common Stock Option exercise Dispose M No No 0 2,678 0 9,616
1 Dec 20 Fleshood John Common Stock Other Aquire J Yes No 0 0 0 647.58
1 Dec 20 Fleshood John Common Stock Option exercise Aquire M No No 0 2,680 0 17,581.85
1 Dec 20 Fleshood John RSU Common Stock Option exercise Dispose M No No 0 2,680 0 9,619
14 Sep 20 Peter G Wiese Common Stock Other Aquire J No No 0 0 0 8,090
14 Sep 20 Peter G Wiese Common Stock Other Aquire J Yes No 0 2,700 0 2,700
25 Aug 20 Smith Richard P Common Stock Other Aquire J Yes No 0 0 0 35,297.24
25 Aug 20 Smith Richard P Common Stock Other Aquire J Yes No 0 0 0 234.79
25 Aug 20 Smith Richard P Common Stock Sell Dispose S No No 28.72 10,000 287.2K 206,108

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

64.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 126 118 +6.8%
Opened positions 18 13 +38.5%
Closed positions 10 16 -37.5%
Increased positions 36 32 +12.5%
Reduced positions 41 46 -10.9%
13F shares
Current Prev Q Change
Total value 1.12B 1.4B -20.3%
Total shares 19.26M 18.89M +2.0%
Total puts 10.6K 0 NEW
Total calls 2.3K 0 NEW
Total put/call ratio 4.6
Largest owners
Shares Value Change
FMR 2.32M $81.86M -7.0%
BLK Blackrock 2.1M $74.11M +2.3%
GS Goldman Sachs 1.4M $49.35M -3.8%
Dimensional Fund Advisors 1.38M $48.58M -2.9%
Vanguard 1.24M $43.69M -2.2%
BEN Franklin Resources 978.98K $34.54M +280.9%
Alliancebernstein 949.41K $33.5M +15.2%
Manufacturers Life Insurance Company, The 853.1K $30.1M -1.3%
Investment Counselors Of Maryland 667.67K $23.56M +5.5%
STT State Street 654.39K $23.09M -1.0%
Largest transactions
Shares Bought/sold Change
BEN Franklin Resources 978.98K +721.99K +280.9%
FMR 2.32M -174.18K -7.0%
Mesirow Financial Investment Management - Equity Management 154.22K +154.22K NEW
Heartland Advisors 200K -150K -42.9%
BNP Paribas Asset Management Holding 0 -138.92K EXIT
Alliancebernstein 949.41K +125.07K +15.2%
Bridgeway Capital Management 135K +85K +170.0%
Millennium Management 0 -70.65K EXIT
Grantham, Mayo, Van Otterloo & Co. 60.38K -60.1K -49.9%
RY Royal Bank Of Canada 155.08K -58.21K -27.3%

Financial report summary

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Management Discussion
  • The Company’s primary source of revenue is net interest income, which is the difference between interest income on earning assets and interest expense on interest-bearing liabilities. Following is a summary of the Company’s net interest income for the periods indicated (dollars in thousands):
  • Net interest income (FTE) during the year ended December 31, 2020 increased $526,000 or 0.2% to $258,796,000 compared against $258,270,000 during the year ended December 31, 2019. The relatively unchanged amount of net interest income is reflective of the declining rate environment during the year ended December 31, 2020, as total average loan balances increased by approximately $534,912,000 in 2020, and excluding PPP loans, average loan balances increased by approximately $250,586,000 compared to December 31, 2019. The yield on interest earning assets was 4.11% and 4.74% for the year ended December 31, 2020 and 2019, respectively. This 63 basis point decrease in total earning asset yield was primarily attributable to a 33 basis point decrease in non-PPP loan yields and a 75 basis point decrease in yields on total investments. Of the 33 basis point decrease in yields on loans, a 32 basis point decline was attributable to decreases in market rates, offset partially by 1 basis point from the accretion of purchased loans. The decreases in yields on earning assets are consistent with decreased funding expenses as the costs of total interest bearing liabilities decreased 17 basis points to 0.25% during the year ended December 31, 2020, as compared to 0.42% for the year ended December 31, 2019. During the same period, costs associated with interest bearing deposits decreased by 15 basis points to 0.18% as compared to 0.33% in the prior year. The decrease in interest expense for the year ended December 31, 2020, as compared to the trailing year, was due largely to the decreased rate environment benefiting both the interest-bearing deposit expense and other borrowings interest expense.
  • Net interest income (FTE) during the year ended December 31, 2019 increased $41,620,000 or 19.2% to $258,270,000 compared to $216,650,000 during the year ended December 31, 2018. The increase was substantially attributable to changes in volume of earning assets from the acquisition of FNB Bancorp in July 2018, in addition to organic loan growth experienced during 2019. The yield on interest earning assets was 4.74% and 4.55% for the year ended December 31, 2019 and 2018, respectively. This 19 basis point increase in total earning asset yield was primarily attributable to a 20 basis point increase in loan yields and a 11 basis point increase in yields on total investments. Of the 20 basis point increase in yields on loans, 15 basis points was attributable to increases in market rates while 5 basis points was from accretion of purchased loans. The increases in yields on earning assets were partially offset by increased funding expenses as the costs of total interest bearing liabilities increased 3 basis points to 0.42% during the year ended December 31, 2019, as compared to 0.39% for the year ended December 31, 2018. During the same period, costs associated with interest bearing deposits increased by 10 basis points to 0.33% as compared to 0.23% in the prior year. The increase in interest expense for the year ended December 31, 2019 as compared to the prior period was due largely to the increases in the average balances of interest-bearing liabilities associated with the acquisition of FNB Bancorp, offset partially by reductions in the average balance of other borrowings.
Content analysis
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