Trico Bancshares / (NASDAQ: TCBK)

TriCo Bancshares is a registered bank holding company under the Bank Holding Company Act of 1956, as amended. TriCo's principal business is to serve as the holding company for our wholly-owned subsidiary, Tri Counties Bank, a California-chartered commercial bank. TriCo is a California corporation and our common stock is traded on the Nasdaq Global Select Market under the trading symbol "TCBK". The Company and the Bank are headquartered in Chico, California. As a bank holding company, TriCo is subject to the supervision of the Board of Governors of the Federal Reserve System under the BHC Act. The Bank is subject to the supervision of the California Department of Financial Protection & Innovation and the Federal Deposit Insurance Corporation. TriCo has five capital trusts, which are all wholly-owned trust subsidiaries formed for the purpose of issuing trust preferred securities and lending the proceeds to TriCo. Additional information concerning the Company can be found on our website at www.tcbk.com.

TriCo Bancshares generates revenue primarily through its wholly-owned subsidiary, Tri Counties Bank, which offers an extensive and competitive breadth of consumer, small business and commercial banking services. The Bank accepts demand, savings and time deposits and makes small business, commercial, real estate, and consumer loans, as well as providing a range of treasury management services and other customary banking services including safe deposit boxes at some branches. Brokerage services are provided at the Bank’s offices by Tri Counties Wealth Management Advisors through the Bank’s arrangement with Raymond James Financial Services, Inc. The Bank also offers advanced online and mobile banking, a shared nationwide network of over 40,000 surcharge-free ATMs, and bankers available by phone 7 days per week. The majority of the Bank’s loans are direct loans made to individuals and businesses in California where its branches or business lending centers are located. At December 31, 2024, the Bank’s consumer loans net of deferred fees outstanding were $1.3 billion, commercial and industrial loans outstanding were $471.3 million, real estate construction loans of $279.9 million, and commercial real estate loans were $4.6 billion of total loans. Most of the Bank’s deposits are from individuals and business-related sources. No single person or group of persons provides a material portion of the Bank’s deposits, nor is a material portion of the Bank’s loans concentrated within a single industry or group of related industries.

The company operates through the following segments:

• Tri Counties Bank: This segment provides a breadth of personal, small business and commercial financial services including accepting demand, savings and time deposits and making small business, commercial, real estate, and consumer loans. The Bank offers a variety of banking and financial services to both personal, small business and commercial customers. In many instances the owners or stakeholders of the business and commercial customers are also personal customers. The industries that we serve are diverse in both number and type and include, but are not limited to, manufacturing, real estate development, retail, wholesale, transportation, agriculture, commerce, oil & gas, and professional services. The Bank provides a range of treasury management services and other customary banking services including safe deposit boxes at some branches. Brokerage services are provided at the Bank’s offices by Tri Counties Wealth Management Advisors through the Bank’s arrangement with Raymond James Financial Services, Inc. The Bank offers advanced online and mobile banking, a shared nationwide network of over 40,000 surcharge-free ATMs, and bankers available by phone 7 days per week. The Bank focuses on relationships and personal contact, emphasizing its Service with Solutions®. The Bank takes real estate, listed and unlisted securities, savings and time deposits, automobiles, machinery, equipment, inventory, accounts receivable and notes receivable secured by property as collateral for loans.

TriCo Bancshares operates in a highly competitive banking environment in California, where it competes with national and regional banks, savings institutions, credit unions, brokerage firms and financial markets for funds. The banking business in California generally is highly competitive with respect to both loans and deposits. It is dominated by a relatively small number of national and regional banks with many offices operating over a wide geographic area. The Bank competes for available funds with money market instruments and mutual funds. Mutual funds are also a major source of competition for savings dollars. The Bank also increasingly competes with financial technology or “fintech” companies for loans and other financial services customers. To compete effectively, the Bank relies substantially on local promotional activity, personal contacts by its officers, directors, employees and shareholders, extended hours, personalized service and its reputation in the communities it services. The Bank’s competitive advantages include its focus on relationships and personal contact, its Service with Solutions® approach, and its deep community ties throughout California.

Tri Counties Bank serves a diverse customer base consisting of individuals, small businesses and commercial customers across various industries in California. The Bank’s customer base includes personal customers, small business owners and stakeholders of commercial enterprises, many of whom are also personal customers. The industries served include manufacturing, real estate development, retail, wholesale, transportation, agriculture, commerce, oil & gas, and professional services. The majority of the Bank’s loans are direct loans made to individuals and businesses in California where its branches or business lending centers are located. Most of the Bank’s deposits are from individuals and business-related sources. No single person or group of persons provides a material portion of the Bank’s deposits.