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Sep 30, 2021
TriCo Q3 2021 Earnings Report
Announced quarterly results with net income of $27.4 million and diluted earnings per share of $0.92.
Key Takeaways
TriCo Bancshares reported a net income of $27.4 million for the quarter ended September 30, 2021, with diluted earnings per share of $0.92. The company's return on average assets was 1.30%, and the return on average equity was 11.02%. Organic loan growth, excluding PPP, totaled $30.7 million.
Net income was $27.4 million, compared to $28.4 million in the previous quarter and $17.6 million in the same quarter last year.
Diluted earnings per share were $0.92, compared to $0.95 in the previous quarter and $0.59 in the same quarter last year.
Return on average assets was 1.30%, and return on average equity was 11.02%.
Organic loan growth, excluding PPP, totaled $30.7 million (2.6% annualized).
TriCo
TriCo
Forward Guidance
Company maintains a positive outlook on the impacts that possible rate increases and Fed balance sheet tapering will have on our asset sensitive structure, our production teams continue to drive increases in the level of organic loan originations and our operational team members remain vigilant in their efforts to create efficiencies.