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Dec 31, 2022
TriCo Q4 2022 Earnings Report
TriCo Bancshares reported net income for Q4 2022.
Key Takeaways
TriCo Bancshares announced net income of $36.34 million for the quarter ended December 31, 2022, compared to $37.34 million during the trailing quarter ended September 30, 2022, and $28.22 million during the quarter ended December 31, 2021. Diluted earnings per share were $1.09 for the fourth quarter of 2022, compared to $1.12 for the third quarter of 2022 and $0.94 during the fourth quarter of 2021.
Net interest margin increased by 0.32% to 4.34% from the third quarter of 2022.
Organic loan growth was $136.2 million for the quarter or 8.6% annualized.
Deposit balances declined by $326.8 million for the quarter or 15.1%.
Noninterest income related to service charges and fees was $12.3 million for the three month period ended December 31, 2022, an increase of 9.5% when compared to the same period in 2021.
TriCo
TriCo
Forward Guidance
Looking forward, the pace of margin and net interest income growth may slow through the course of 2023.