TriCo Bancshares prelim Q3 net income rises, loan balances up

By Reuters News


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

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  • Oct 20 - East West Bancorp Q3 revenue beats estimates on loan and deposit growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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