TriCo Bancshares : Investor Presentation January 2025

Published: 2025-01-23 11:21:04 ET TCBK

Investor Presentation

Fourth Quarter 2024

Richard P. Smith, President & Chief Executive Officer Daniel K. Bailey, EVP & Chief Banking Officer

John S. Fleshood, EVP & Chief Operating Officer Peter G. Wiese, EVP & Chief Financial Officer

Tri Counties Bank Awards

Forbes Magazine

Sacramento Business Journal

S&P Global Market Intelligence

Cen Cal Business Finance Group

America's Best Banks

Best Places to Work

Top Community Bank with

SBA-504 Lender of the Year

2024

$3 billion to $10 billion in assets

2023

2022, 2023

Sacramento

California Black Chamber

Chico Enterprise Record

Chico News & Review

Rainbow Chamber of Commerce

of Commerce

Readers' Choice

Best Bank

Corporate Advocate of the Year

Top Partner Award

Best Bank

Awarded annually 2008-

2024

2023

Awarded annually 2019-2024

2019, then 2022 and 2023

Style Magazine

Grass Valley Union

Gustine Press-Standard

Record Searchlight

Reader's Choice -

Best of Nevada County

Best Bank

Best Bank in the North State

Roseville, Granite Bay & Rocklin

Awarded annually 2011-2023

2023

2015, 2016, 2018, 2022, 2023

Awarded annually 2011-2024

Investor Presentation | Fourth Quarter 2024

Executive Team

Rick Smith

Dan Bailey

Craig Carney

John Fleshood

Bret Funderburgh

Greg Gehlmann

President &

EVP

SVP

Chief Executive Officer

Chief Banking Officer

Chief Credit Officer

Chief Operating Officer

Deputy Chief

General Counsel

Credit Officer

Judi Giem

Jason Levingston

Scott Myers

Scott Robertson

Angela Rudd

Peter Wiese

SVP

EVP

Chief Human Resources

Chief Information Officer

Head of

Chief Community

Chief Risk Officer

Chief Financial Officer

Officer

Wholesale Banking

Banking Officer

Investor Presentation | Fourth Quarter 2024

Agenda

Investor Presentation | Fourth Quarter 2024

Most Recent Quarter Highlights

Operating Leverage and Profitability

 Net interest margin (FTE) of 3.76% in the quarter compared favorably to 3.71% in the prior quarter.

Net Interest Income

 Average yield on earning assets (FTE) of 5.22% was 4 basis points lower than the 5.26% in the trailing quarter,

and 13 basis points higher than the 5.09% in the quarter ended December 31, 2023.

and Margin



Cost of interest-bearing liabilities for the quarter was 2.27%, or a 13 basis points decrease from 2.40% in the

trailing quarter, but a 26 basis points increase from the 2.01% for the quarter ended December 31, 2023.

 The Company's average cost of total deposits of 1.46% decreased 6 basis points from the trailing quarter.

 Loan balances increased $84.6 million or 5.1% (annualized) from the trailing quarter

Balance Sheet

 Deposit balances increased $50.5 million or 2.5% (annualized) from the trailing quarter



Loan to deposit ratio increased to 83.7% at December 31, 2024, compared to 83.2% in the trailing quarter

Management



Other borrowings decreased by $177.2 million to $89.6 million as compared to the trailing quarter; while on

balance sheet liquidity decreased by $175.2 million in the quarter, to $145.0 million as of December 31, 2024.

Liquidity

Credit Quality

Diverse Deposit Base

 Average non-interest-bearing deposits comprised 31.8% of average total deposits for the quarter.

 Approximately a 50/50 split between consumer and business deposit dollars reflects a diversified client base.

 All regulatory capital ratios continue to climb, with five successive quarters of increases

Capital Strategies

 Maintained the 2024 quarterly dividend of $0.33 or $1.32 annually as compared to the $1.20 paid in 2023

 Approximately 830,000 shares remain authorized for repurchase

 Tangible capital ratio of 9.7% at December 2024, an increase from 8.8% at December 2023, through the

combined impacts of retained earnings and reduction in accumulated other comprehensive loss.

Investor Presentation | Fourth Quarter 2024

Company Overview

Nasdaq:

TCBK

Headquarters:

Chico, California

Stock Price*:

$43.70

Market Cap.:

$1.44 Billion

Asset Size:

$9.67 Billion

Loans:

$6.77 Billion

Deposits:

$8.09 Billion

Bank Branches:

ATMs:

84 Bank ATMs, with

access to ~ 40,000

in network

Market Area:

TriCo currently serves

31 counties throughout

California

* As of close of business December 31, 2024

Investor Presentation | Fourth Quarter 2024

Positive Earnings Track Record

Earnings (in Millions)

$40 $36

$32 $28

$24

$20

2020

Elevated ACL Provisioning Associated with COVID Related Risks

March 2022

Acquired Valley Republic Bancorp ($1.4B assets)

$1.20

$1.00

$0.80

$0.60

EPS (diluted)

$16

$12

Q4'19

Q1'20

Q2'20

Q3'20

Q4'20

Q1'21

Q2'21

Q3'21

Q4'21

Q1'22

Q2'22

Q3'22

Q4'22

Q1'23

Q2'23

Q3'23

Q4'23

Q1'24

Q2'24

Q3'24

Q4'24

Net Income ($MM)

$22.9

$16.1

$7.4

$17.6

$23.6

$33.6

$28.4

$27.4

$28.2

$20.4

$31.4

$37.3

$36.3

$35.8

$24.9

$30.6

$26.1

$27.7

$29.0

$29.1

$29.0

Qtrly Diluted EPS

$0.75

$0.53

$0.25

$0.59

$0.79

$1.13

$0.95

$0.92

$0.94

$0.67

$0.93

$1.12

$1.09

$1.07

$0.75

$0.92

$0.78

$0.83

$0.87

$0.88

$0.40

$0.20

$0.00

Qtrly

Investor Presentation | Fourth Quarter 2024

Shareholder Returns

Dividends per Share: 10% CAGR*

Q2 Q3

$1.20

$1.32

$1.25

$1.10

$0.88

$1.00

$0.30

$0.33

$1.00

$0.82

$0.30

$0.25

$0.70

$0.33

$0.22

$0.30

$0.75

$0.22

$0.19

$0.22

$0.25

$0.30

$0.33

$0.50

$0.17

$0.30

$0.25

$0.22

$0.17

$0.19

$0.25

$0.30

$0.33

$0.17

$0.19

$0.22

$0.00

2018

2019

2020

2021

2022

2023

2024

Dividends as % of Earnings

41%

38%

34%

27%

29%

25%

2018

2019

2020

2021

2022

2023

2024

*Compound Annual Growth Rate, 5 years

Return on Avg. Shareholder Equity

10.75%

12.10%

11.67%

10.49%

10.65%

9.57%

7.18%

2018

2019

2020

2021

2022

2023

2024

Diluted EPS

$5.00

$4.50

Q1 Q2

$3.94

$4.00

$3.83

$3.52

$3.46

$3.50

$3.00

$0.94

$2.54

$1.09

$0.78

$0.88

$3.00

$0.75

$2.16

$2.50

$0.92

$1.12

$0.88

$2.00

$0.76

$0.79

$0.53

$0.95

$0.75

$1.50

$0.75

$0.59

$0.93

$0.87

$0.65

$1.00

$0.25

$1.13

$0.50

$0.60

$0.74

$0.67

$1.07

$0.83

$0.53

$0.00

2018

2019

2020

2021

2022

2023

2024

Investor Presentation | Fourth Quarter 2024

Asset Growth

Organic Growth and Disciplined Acquisitions

CAGR, Assets

5 yrs.

10 yrs.

8.4% 9.5%

Trailing 10 years

4 Quarters of 2024

• Asset Dollars in Billions

Investor Presentation | Fourth Quarter 2024

Disclaimer

TriCo Bancshares published this content on January 23, 2025, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on January 23, 2025 at 16:20:31.989.