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Jun 30, 2024
TriCo Q2 2024 Earnings Report
TriCo Bancshares reported Q2 2024 net income of $29.0 million and diluted EPS of $0.87.
Key Takeaways
TriCo Bancshares reported a net income of $29.0 million, with diluted earnings per share of $0.87 for the second quarter of 2024. Deposit balances increased by $62.6 million, and the average yield on earning assets rose to 5.24%. The net interest margin remained stable at 3.68%.
Net income increased to $29.0 million, or $0.87 per diluted share, compared to the previous quarter's $27.7 million, or $0.83 per diluted share.
Deposit balances saw an increase of $62.6 million, representing an annualized growth of 3.1% from the trailing quarter.
The average yield on earning assets increased by 11 basis points to 5.24%.
Net interest margin remained unchanged at 3.68%.
TriCo
TriCo
Forward Guidance
Management anticipates net interest income will gain momentum in the second half of 2024. Full year outlook for non-interest expenses remains unchanged. The company plans to continue cash dividend and share repurchase activities.