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Dec 31, 2020
TriCo Q4 2020 Earnings Report
TriCo Bancshares reported net income of $23.7 million and diluted earnings per share of $0.79 for Q4 2020.
Key Takeaways
TriCo Bancshares announced net income of $23.7 million for the quarter ended December 31, 2020, compared to $17.6 million during the trailing quarter ended September 30, 2020 and $22.9 million during the quarter ended December 31, 2019. Diluted earnings per share were $0.79 for the fourth quarter of 2020, compared to $0.59 for the third quarter of 2020 and $0.75 for the fourth quarter of 2019.
Return on average assets was 1.24% and return on average equity was 10.37%.
Total loans, total assets and total deposits were $4.76 billion, $7.64 billion and $6.51 billion, respectively.
Net interest margin was 3.79% on a tax equivalent basis.
The efficiency ratio was 55.11%.
TriCo
TriCo
Forward Guidance
The company will continue to execute on its strategic priorities including organic loan and deposit growth, prudent expense management, active engagement in PPP lending and other programs for borrowers in need, and the deployment of capital through dividends and additional share repurchases.
Positive Outlook
- Organic loan and deposit growth
- Prudent expense management
- Active engagement in PPP lending
- Programs for borrowers in need
- Deployment of capital through dividends and additional share repurchases