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Sep 30, 2020
TriCo Q3 2020 Earnings Report
TriCo Bancshares' financial performance improved with increased net income and stable credit quality.
Key Takeaways
TriCo Bancshares reported a net income of $17.6 million for the quarter ended September 30, 2020, a significant increase compared to the previous quarter. The company experienced non-PPP loan growth and strong deposit growth, while also reducing its cost of funds. Credit quality remained stable, and non-interest income increased due to mortgage banking gains and card usage.
Net income increased to $17.6 million, compared to $7.43 million in the previous quarter.
Diluted earnings per share rose to $0.59, up from $0.25 in the prior quarter.
Total loans reached $4.83 billion, and total deposits amounted to $6.34 billion.
Credit quality remained stable with deferred loans decreasing from $341 million to $131 million.
TriCo
TriCo
TriCo Revenue by Segment
Revenue by Segment
Service Charges and Fees Revenue
CapyFin.comOther Noninterest Income Revenue
CapyFin.com Forward Guidance
The provided document does not contain forward guidance. Therefore, information on the company's future expectations is unavailable.
Revenue & Expenses
Visualization of income flow from segment revenue to net income