Trico Bancshares / (NASDAQ: TCBK)

Trico Bancshares operates as a bank holding company, primarily serving as the parent entity for Tri Counties Bank, a California-chartered commercial bank. The company is headquartered in Chico, California, and its operations are centered around providing a wide array of banking services to both personal and business customers throughout the state. Trico Bancshares is subject to regulation by the Board of Governors of the Federal Reserve System under the Bank Holding Company Act, as well as oversight by the California Department of Financial Protection & Innovation and the Federal Deposit Insurance Corporation.

The company generates revenue through the provision of various banking services, including accepting demand, savings, and time deposits, and offering small business, commercial, real estate, and consumer loans. Additionally, Trico Bancshares provides treasury management services and other customary banking services such as safe deposit boxes at select branches. Brokerage and wealth management services are offered through Tri Counties Advisors in collaboration with Raymond James Financial Services, Inc. The primary customer base consists of individuals, small businesses, and commercial entities operating in diverse industries such as manufacturing, real estate development, retail, wholesale, transportation, agriculture, commerce, oil & gas, and professional services.

• Tri Counties Bank: This segment is the core operating subsidiary of Trico Bancshares, offering an extensive range of consumer, small business, and commercial banking services. The bank operates through a network of stand-alone and in-store branches across California, providing services such as deposit accounts, various types of loans, treasury management, and wealth management services. The bank also offers advanced online and mobile banking capabilities, access to a shared nationwide network of over 40,000 surcharge-free ATMs, and customer support available by phone seven days a week. The bank's loan portfolio includes consumer loans, commercial and industrial loans, real estate construction loans, and commercial real estate loans, with collateral including real estate, securities, savings and time deposits, automobiles, machinery, equipment, inventory, accounts receivable, and notes receivable secured by property.

Trico Bancshares operates in a highly competitive banking industry in California, facing competition from both national and regional banks, as well as savings institutions, credit unions, brokerage firms, and financial markets. Key competitors include larger financial institutions that have the advantage of greater capitalization, allowing them to finance investments in technology and marketing campaigns more effectively. To compete, Trico Bancshares relies on local promotional activity, personal contacts by its officers, directors, employees, and shareholders, extended hours, personalized service, and its reputation in the communities it serves. The company also faces increasing competition from financial technology or "fintech" companies for loans and other financial services customers.

The customer base for Trico Bancshares is diverse, encompassing individuals, small businesses, and commercial entities across various industries. The bank serves a broad range of customers, including those in 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. The bank's deposits are primarily from individuals and business-related sources, with no single person or group providing a material portion of the bank's deposits. The diverse customer base and the lack of concentration in any single industry or group of related industries contribute to the stability and resilience of the bank's operations.