TriCo Bancshares prelim Q3 net income rises, loan balances up
Overview
California regional bank's preliminary Q3 net income and EPS rose yr/yr and sequentially
Net interest income and loan balances increased from prior quarter and year
Company declared unchanged $0.36 per share quarterly dividend
Outlook
Company did not provide specific financial guidance for future quarters or full-year results in its press release
Result Drivers
NET INTEREST INCOME - Co said increase was driven by higher interest income on earning assets, led by lending income
CREDIT LOSS REVERSAL - Co recorded benefit from credit losses due to improved collateral values and risk ratings
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS | $1.18 | ||
Q3 Net Income | $37.97 mln | ||
Q3 Net Interest Income | $96.55 mln |
Reuters Recommended Reads
Oct 19 - Western Alliance Bancorp Q3 revenue slightly beats estimates, profit rises on wider interest margin
Oct 19 - Zions Bancorp Q3 EPS rises 20% on improved credit quality
Oct 20 - East West Bancorp Q3 revenue beats estimates on loan and deposit growth
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)