TriCo Bancshares preliminary Q3 net income rises, loan balances up
TCBK•TriCo Bancshares reported preliminary Q3 net income of $37.97 million and EPS of $1.18, both higher year over year and sequentially. Net interest income was $96.55 million, loan balances increased, and the company declared an unchanged quarterly dividend of $0.36 per share.
1. Preliminary Q3 results
TriCo Bancshares said preliminary Q3 net income and EPS rose year over year and sequentially, to $37.97 million and $1.18, respectively. Net interest income was $96.55 million; the company said it increased from the prior quarter and year, driven by higher interest income on earning assets, led by lending income. Loan balances also increased, and a benefit from credit losses reflected improved collateral values and risk ratings. The company declared an unchanged quarterly dividend of $0.36 per share.
