First Hawaiian agreed to acquire TriCo Bancshares in an all-stock deal, valuing TriCo at $63.12 per share based on July 10 closing prices.
TriCo holders are to receive 2.095 First Hawaiian shares per TriCo share; ownership split is expected to be about 65% First Hawaiian and 35% TriCo.
Business outlook and closing timeline
The combined bank is expected to have about $34 billion in assets, expanding First Hawaiian’s mainland footprint while keeping Tri Counties Bank branding.
The deal is targeted to close by end-2026, subject to regulatory clearances and shareholder votes.
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