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Here are 1-3 brief analogies for TriCo Bancshares (TCBK):

• Think of it as PNC Bank, but operating exclusively within California.
• It's like a regional Bank of America, offering a full range of services across California.

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• Deposits: TriCo Bancshares accepts demand, savings, and time deposits from individual and corporate customers.
• Loans: The company provides a comprehensive suite of loans, including small business, real estate mortgage (residential and commercial), consumer, commercial, and real estate construction loans.
• Treasury Management Services: These services assist businesses with managing their cash flow and financial operations.
• Safe Deposit Boxes: Customers can rent secure boxes for storing valuable items.
• Financial and Broker-Dealer Services: The company offers independent financial and broker-dealer advisory services.

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TriCo Bancshares (TCBK), through its Tri Counties Bank, serves a diversified customer base rather than having a few major, identifiable customers. Based on its business model as a commercial bank, it serves categories of customers rather than specific named entities. The major customer categories it serves include:

1. Individual Customers: These customers utilize the bank for personal banking needs, including demand, savings, and time deposit accounts, residential real estate mortgage loans, and various consumer loans.

2. Small to Medium-Sized Businesses: This category encompasses local and regional businesses seeking commercial banking services such as small business loans, general commercial loans (including agricultural loans), and treasury management services.

3. Commercial Real Estate Developers and Investors: These customers are specifically targeted for commercial real estate mortgage loans and real estate construction loans, indicating a focus on financing projects within the commercial property sector.

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Richard Smith

Chairman, President & Chief Executive Officer

Richard Smith was appointed CEO in November 1999 and has served for over 26 years. He became Chairman of the Board in May 2020. Smith joined Tri Counties Bank in 1994 as Vice President and Chief Information Officer, later becoming Senior Vice President-Customer/Employee Support and Control from 1997 to 1998, and then Executive Vice President. He was named President of the bank and Executive Vice President of TriCo in 1998. Prior to his tenure at TriCo, he was Chief Financial Officer of Systemone Technologies, Inc. He also served as Chairman of the California Bankers Association during 2011 and is currently on the Board of Directors for the California Bankers Association, Tri Counties Bank, and the Western Bankers Association.

Peter Wiese

Executive Vice President and Chief Financial Officer

Peter Wiese was named Executive Vice President and Chief Financial Officer of TriCo Bancshares effective August 14, 2018. Before joining TriCo, he was a consultant to the Bank from June to August 2018. Previously, Mr. Wiese was a partner at the public accounting firm Crowe LLP (formerly Crowe Horwath LLP) from 2011 through April 2018, specializing in the financial services and banking industries. He is a Certified Public Accountant with more than 20 years of experience in public accounting. Mr. Wiese also serves on the Investment Board of Moneta Ventures Fund II and Fund III, a venture capital firm.

John Fleshood

Executive Vice President and Chief Operating Officer

John Fleshood was hired as Executive Vice President and Chief Operating Officer for TriCo Bancshares and Tri Counties Bank, effective December 1, 2016, a role he held until his planned retirement in December 2025. Before joining TriCo, he was the Chief Risk Officer at Wintrust Financial Corporation for 11 years, where he also held other senior positions, including Market Head for Mortgage Banking and Market Head for Community Banking. Prior to Wintrust, he spent 13 years at Fifth Third Bancorp, serving as CFO for Fifth Third's largest banking affiliate and Treasury Manager for the multibank holding company. He began his banking career with Indiana National Bank.

Craig Carney

Executive Vice President and Chief Credit Officer

Craig Carney has served as Executive Vice President and Chief Credit Officer of Tri Counties Bank since 2007. From 1997 to 2007, he was Senior Vice President and Chief Credit Officer of Tri Counties Bank. From 1985 to 1996, Mr. Carney was employed by Wells Fargo Bank in various lending capacities, with his most recent position being Vice President, Senior Lender in commercial banking from 1991 to 1996. He also served as a consultant to Tri Counties Bank from 1996 until his employment in 1997.

Daniel Bailey

Executive Vice President and Chief Banking Officer

Daniel K. Bailey has been Executive Vice President and Chief Banking Officer of TriCo Bancshares and Tri Counties Bank since July 2019. He joined Tri Counties Bank as Executive Vice President, Retail Banking & Bank Operations, in May 2007, and was promoted to Chief Retail Banking Officer in 2015. In his expanded role as Chief Banking Officer, he oversees Commercial and Retail Banking, bankwide Marketing, Product Management, and Digital Channels. Before joining Tri Counties Bank, Mr. Bailey spent over 15 years at Wells Fargo Bank, where he held numerous senior management positions, including Senior Vice President & Market President, responsible for retail branches from Sacramento north to the Oregon border.

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1. Concentration in California Real Estate and Agricultural Loans: TriCo Bancshares' loan portfolio is heavily concentrated in commercial real estate (CRE), construction, and agricultural loans, largely secured by California real estate. This geographic and sectoral concentration exposes the company to significant credit risks, making it vulnerable to economic downturns, real estate market fluctuations, and natural disasters specific to California. The adequacy of its allowance for credit losses is also impacted by the implementation of the CECL standard, which introduces volatility based on economic forecasts.
2. Interest Rate Fluctuations: As a financial institution, TriCo Bancshares is highly susceptible to changes in interest rates. Significant fluctuations can adversely affect the company's net interest income, which is its largest revenue source, as well as loan demand and the repayment capabilities of borrowers. Recent aggressive interest rate changes by the Federal Reserve have increased uncertainty and put pressure on funding costs and net interest income.
3. Increased Regulatory Scrutiny and Costs from Approaching the $10 Billion Asset Threshold: TriCo Bancshares is nearing the $10 billion asset threshold. Once it crosses this level, it will be subject to heightened regulatory scrutiny and additional requirements, particularly from the Consumer Financial Protection Bureau (CFPB). Compliance with these more stringent regulations is expected to result in higher operational costs and may necessitate changes in business practices, potentially impacting profitability.

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The following are clear emerging threats for TriCo Bancshares (TCBK):

• Digital-first banking competitors and Neobanks: Companies operating entirely online or with minimal physical presence leverage technology to offer highly convenient, mobile-first banking experiences, often with lower fees and competitive interest rates on deposits and loans. These competitors directly threaten TriCo Bancshares' traditional deposit base and loan origination for consumer, small business, and mortgage products by providing a more streamlined, accessible, and potentially more cost-effective alternative to its branch-centric model.
• Big Tech companies entering financial services: Large technology companies like Apple, Google, and Amazon are increasingly offering financial products such as high-yield savings accounts, credit cards, payment solutions, and small business lending. These entities possess vast customer bases, sophisticated data analytics, and significant capital, enabling them to attract customers and offer services that directly compete with segments of TriCo Bancshares' business, potentially siphoning away profitable customer relationships and revenue streams.

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For TriCo Bancshares (symbol: TCBK), the addressable markets for their main products and services within California are sized as follows:

• Commercial Banking Services (including commercial and industrial loans, and treasury management): The Commercial Banking industry in California is estimated to have a market size of $143.0 billion in 2026. This market encompasses commercial, industrial, and consumer loans. Furthermore, in 2024, the California State Treasurer's Office managed approximately $2.9 trillion in transactions through the state's Centralized Treasury System, indicating a substantial volume of treasury management activity within the region.
• Small Business Loans: In 2023, reporting banks issued $29.7 billion in loans to California businesses with revenues of $1 million or less. California's significant small business landscape includes 4.3 million small businesses, accounting for 99.8% of all businesses in the state, underscoring a vast addressable market for small business lending.
• Real Estate Mortgage Loans:
  • Residential Mortgage Lending: The total principal amount of consumer loans secured by real property originated by finance lenders in California was $28.1 billion in 2023. As of February 2026, the median home price in California was $821,300.
  • Commercial Real Estate Loans: The market size for commercial real estate loans is integrated within the broader California Commercial Banking market, which is valued at $143.0 billion in 2026.
• Consumer Loans (excluding real estate-secured): Californians held approximately $30 billion in personal loan debt as of late 2024. The total principal amount of consumer loans, excluding those secured by real estate and "buy now, pay later" options, originated by finance lenders in California was $17.3 billion in 2023.
• Agricultural Loans: While a direct market size for agricultural loans in California is not explicitly provided in the search results, the state's agricultural sector generated almost $60 billion in value in 2023. Agriculture constitutes approximately 3% of California's GDP, signifying a substantial economic activity that drives the demand for agricultural financing.
• Financial and Broker-Dealer Services: California is home to the highest number of financial advisors per state, with over 32,000 advisors. The U.S. financial advisory services market is expected to continue its expansion, with California holding a dominant position in this growth. Globally, the financial advisory services market was valued at $85.1 billion in 2022 and is projected to grow to $146.8 billion by 2032.

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For TriCo Bancshares (TCBK), the following are expected drivers of future revenue growth over the next 2-3 years:

1. Expansion to New Markets: Tri Counties Bank is expanding its physical presence within California by opening a new branch in San Francisco's West Portal neighborhood by late summer 2025. This expansion aims to offer personalized financial solutions and enhanced customer interactions in the Bay Area.
2. Enhanced Business and Commercial Banking Services: The company has restructured its business and commercial management teams to provide more specialized expertise and tailored financial solutions for California businesses. This includes segmenting services for businesses of different revenue sizes and establishing specialized teams focused on key sectors such as food and agribusiness and commercial real estate, aiming to better serve diverse business needs and streamline access to specialized lending.
3. Loan Growth and Optimized Net Interest Margin: Management intends to support loan growth through organic deposit growth and cash flows from its investment security portfolio. Furthermore, the company's focus on reducing deposit costs and managing interest rate sensitivity is expected to lead to net interest margin tailwinds, contributing to improved profitability. Loan growth was also cited as a key driver of improved net interest margin.
4. Growth in Fee-Based Income: The company anticipates growth in its fee businesses, driven by increased asset management and deposit-related fees, reflecting stronger client activity. This expansion of non-interest income streams is expected to contribute to overall revenue growth.

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Share Repurchases

• TriCo Bancshares repurchased 379,279 shares of its common stock at an average price of $37.39 during 2024.
• As of the company's 2024 Annual Report filed in March 2025, 830,523 shares remained authorized for repurchase under the 2021 Repurchase Plan.
• In the fourth quarter of 2025, the company spent approximately $9.7 million on share buybacks. A new share repurchase program was authorized in January 2026.

Capital Expenditures

• Capital expenditures for 2025 totaled approximately $17.15 million, including $777,000 in the fourth quarter, primarily for funding long-term assets and infrastructure.
• For 2024, capital expenditures amounted to approximately $17.17 million.
• In 2023, the company's reported capital expenditures from the second to fourth quarters were approximately $13.91 million.