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Mar 31, 2023
TriCo Q1 2023 Earnings Report
Net income of $35.8 million was announced, with diluted earnings per share at $1.07.
Key Takeaways
TriCo Bancshares reported a net income of $35.8 million for Q1 2023, a slight decrease compared to the previous quarter but a significant increase compared to the same quarter last year. The company's balance sheet remains flexible with readily accessible liquidity sources.
Net income was $35.8 million, up from $20.4 million in the same quarter of the prior year.
Pre-tax pre-provision net revenue was $53.2 million, compared to $36.6 million in the same quarter of the prior year.
Readily accessible sources of liquidity exceeded $4.4 billion.
Credit quality remained strong, with non-performing assets representing less than 0.2% of total assets.