TriCo Bancshares tops estimates as net interest margin expands in Q1

TriCo Bancshares (NASDAQ:TCBK), the parent company of Tri Counties Bank, delivered a strong start to 2026, reporting first-quarter results that surpassed analyst estimates on both the top and bottom lines.

The Chico, California-based lender posted net income of $33.7 million, or $1.04 per diluted share, compared to $1.03 per share in the previous quarter and a 27.8% increase over the $0.80 per share recorded in the first quarter of 2025.

The performance was highlighted by a significant beat against Wall Street projections; the Zacks Consensus Estimate had anticipated earnings of just $0.97 per share.

Total revenue (net interest income plus non-interest income) reached approximately $108.5 million, also edging out forecasts despite a slight sequential decline in total interest income due to a shorter day count in the first quarter.

A key driver of profitability was the expansion of the bank's net interest margin (NIM), which rose 5 basis points to 4.07%.

This improvement was fueled by a decrease in the average cost of total deposits to 1.26%, down from 1.29% in the trailing quarter.

Average non-interest bearing deposits remained a pillar of the bank's funding strategy, growing 1.5% year-over-year to represent nearly 31% of total deposits