8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

____________________

FORM 8-K

_________________________________________

Current report pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

July 25, 2024

_______________________

(Exact name of registrant as specified in its charter)

_______________________

California	0-10661	94-2792841
(State or other jurisdiction of incorporation or organization)	(Commission File No.)	(I.R.S. Employer Identification No.)

63 Constitution Drive	Chico,	California	95973
(Address of principal executive offices)			(Zip Code)

Registrant’s telephone number, including area code: (530) 898-0300

_____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	TCBK	Nasdaq

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02    Results of Operations and Financial Condition

On July 25, 2024, TriCo Bancshares (the "Company") announced its unaudited financial results as of and for the three and six month periods ended June 30, 2024. A copy of the press release is attached as Exhibit 99.1 to this to this Form 8-K and is incorporated herein by reference.

Item 7.01    Regulation FD Disclosure

The executive officers of the Company intend to use the materials filed herewith, in whole or in part, in one or more presentations, discussions or meetings with investors. A copy of the investor presentation is attached hereto as Exhibit 99.2.

Item 9.01    Financial Statements and Exhibits

(d) Exhibits

99.1    Press release dated July 25, 2024

99.2    Investor Presentation

The information furnished under Item 2.02, Item 7.01 and Item 9.01 of this Current Period on Form 8-K, including the exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section, nor shall it be deemed incorporated by reference in any registration statement or other filings of TriCo Bancshares under the Securities Act of 1933, as amended, except as shall be set forth by specific reference in such filing.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	TRICO BANCSHARES
Date: July 25, 2024	/s/ Peter G. Wiese
	Peter G. Wiese, Executive Vice President and Chief Financial Officer
	(Principal Financial and Accounting Officer)

EX-99.1

Exhibit 99.1

For Immediate Release | July 25, 2024 | Chico, California

TriCo Bancshares reports second quarter 2024 net income of $29.0 million, diluted EPS of $0.87

2Q24 Financial Highlights

•Net income increased to $29.0 million or $0.87 per diluted share as compared to $27.7 million or $0.83 per diluted share in the trailing quarter

•Deposit balances increased $62.6 million or 3.1% (annualized) from the trailing quarter

•Average yield on earning assets was 5.24%, an increase of 11 basis points over the 5.13% in the trailing quarter

•Net interest margin (FTE) was 3.68% in the recent quarter, unchanged from the trailing quarter

•Non-interest bearing deposits averaged 32.0% of total deposits during the quarter

•The average cost of total deposits was 1.45%, an increase of 24 basis points as compared to 1.21% in the trailing quarter, and an increase of 87 basis points from 0.58% in the same quarter of the prior year; the Company's total cost of deposits have increased 141 basis points since FOMC rate actions began in March 2022, which translates to a cycle-to-date deposit beta of 26.9%

Executive Commentary:

“Our results for the second quarter continued to demonstrate TriCo’s stability and ability to operate effectively under various and changing economic environments. Our focus on core deposit growth and relationship banking continues to provide positive traction for our Bank," said Rick Smith, President and CEO. Smith further commented; "Our loan portfolio risk trends remain strong as the credit cycle continues to normalize as compared to the past several years. Borrowers continue to be responsive and supportive of our proactive efforts to manage credit risk.”

Peter Wiese, EVP and CFO added, “Our net interest margin was unchanged from the trailing quarter, a positive indicator that net interest income is poised to gain momentum in the second half of 2024. Our balance sheet strategies around deposit growth and borrowing reductions continue to be successful, and despite the modest increase in non-interest expenses during the second quarter, our full year outlook remains unchanged. In addition, our use of capital, including a cash dividend and share repurchase activities, illustrate our commitment to building shareholder value and our forward-looking confidence in the Company.”

Selected Financial Highlights

•For the quarter ended June 30, 2024, the Company’s return on average assets was 1.19%, while the return on average equity was 9.99%; for the trailing quarter ended March 31, 2024, the Company’s return on average assets was 1.13%, while the return on average equity was 9.50%.

•Diluted earnings per share were $0.87 for the second quarter of 2024, compared to $0.83 for the trailing quarter and $0.75 during the second quarter of 2023.

•The loan to deposit ratio decreased to 83.8% as of June 30, 2024, as compared to 85.1% for the trailing quarter end, as a result of both deposit growth and loan contraction during the quarter.

•The efficiency ratio was 59.61% for the quarter ended June 30, 2024, as compared to 57.36% for the trailing quarter.

•The provision for credit losses was approximately $0.4 million during the quarter ended June 30, 2024, as compared to $4.3 million during the trailing quarter end, reflecting the continued risks associated with general economic trends and forecasts, partially offset by a decline in specific reserves and loan balances.

•The allowance for credit losses (ACL) to total loans was 1.83% as of June 30, 2024, compared to 1.83% as of the trailing quarter end, and 1.80% as of June 30, 2023. Non-performing assets to total assets were 0.36% on June 30, 2024, as compared to 0.37% as of March 31, 2024, and 0.41% at June 30, 2023. At June 30, 2024, the ACL represented 377% of non-performing loans.

Financial results reported in this document are preliminary and unaudited. Final financial results and other disclosures will be reported on Form 10-Q for the period ended June 30, 2024, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information.

1

Operating Results and Performance Ratios

	Three months ended
	June 30, 2024			March 31, 2024
(dollars and shares in thousands, except per share data)							$ Change		% Change
Net interest income	$	81,997		$	82,736		$	(739)	(0.9)	%
Provision for credit losses	(405)			(4,305)			3,900		(90.6)	%
Noninterest income	15,866			15,771			95		0.6	%
Noninterest expense	(58,339)			(56,504)			(1,835)		3.2	%
Provision for income taxes	(10,085)			(9,949)			(136)		1.4	%
Net income	$	29,034		$	27,749		$	1,285	4.6	%
Diluted earnings per share	$	0.87		$	0.83		$	0.04	4.8	%
Dividends per share	$	0.33		$	0.33		$	—	—	%
Average common shares	33,121			33,245			(124)		(0.4)	%
Average diluted common shares	33,244			33,370			(126)		(0.4)	%
Return on average total assets	1.19		%	1.13		%
Return on average equity	9.99		%	9.50		%
Efficiency ratio	59.61		%	57.36		%

	Three months ended June 30,
(dollars and shares in thousands, except per share data)	2024			2023			$ Change		% Change
Net interest income	$	81,997		$	88,601		$	(6,604)	(7.5)	%
Provision for credit losses	(405)			(9,650)			9,245		(95.8)	%
Noninterest income	15,866			15,741			125		0.8	%
Noninterest expense	(58,339)			(61,243)			2,904		(4.7)	%
Provision for income taxes	(10,085)			(8,557)			(1,528)		17.9	%
Net income	$	29,034		$	24,892		$	4,142	16.6	%
Diluted earnings per share	$	0.87		$	0.75		$	0.12	16.0	%
Dividends per share	$	0.33		$	0.30		$	0.03	10.0	%
Average common shares	33,121			33,219			(98)		(0.3)	%
Average diluted common shares	33,244			33,302			(58)		(0.2)	%
Return on average total assets	1.19		%	1.01		%
Return on average equity	9.99		%	8.98		%
Efficiency ratio	59.61		%	58.69		%

	Six months ended June 30,
(dollars and shares in thousands)	2024			2023			$ Change		% Change
Net interest income	$	164,733		$	181,937		$	(17,204)	(9.5)	%
Provision for credit losses	(4,710)			(13,845)			9,135		(66.0)	%
Noninterest income	31,637			29,376			2,261		7.7	%
Noninterest expense	(114,843)			(115,037)			194		(0.2)	%
Provision for income taxes	(20,034)			(21,706)			1,672		(7.7)	%
Net income	$	56,783		$	60,725		$	(3,942)	(6.5)	%
Diluted earnings per share	$	1.70		$	1.82		$	(0.12)	(6.6)	%
Dividends per share	$	0.66		$	0.60		$	0.06	10.0	%
Average common shares	33,183			33,257			(74)		(0.2)	%
Average diluted common shares	33,306			33,371			(65)		(0.2)	%
Return on average total assets	1.16		%	1.24		%
Return on average equity	9.74		%	11.13		%
Efficiency ratio	58.48		%	54.44		%

2

Balance Sheet Data

Total loans outstanding were $6.7 billion as of June 30, 2024, an organic increase of $221.8 million 3.4% over June 30, 2023, but a decrease of $58.2 million or 3.4% annualized as compared to the trailer quarter ended March 31, 2024. As the Company continued with its balance sheet augmentation strategies, investments decreased by $135.5 million and $399.3 million for the three and twelve month periods ended June 30, 2024 and ending the quarter with a balance of $2.09 billion or 21.4% of total assets. Quarterly average earning assets to quarterly total average assets was 92.0% on June 30, 2024, compared to 91.6% at June 30, 2023. The loan-to-deposit ratio was 83.8% on June 30, 2024, as compared to 80.6% at June 30, 2023. The Company did not utilize brokered deposits during 2024 or 2023 and continues to rely on organic deposit customers and short-term borrowings to fund cash flow timing differences.

Total shareholders' equity increased by $12.0 million during the quarter ended June 30, 2024, as net income of $29.0 million and a $2.9 million decrease in accumulated other comprehensive losses was partially offset by cash dividend payments on common stock of approximately $10.9 million and net share repurchases totaling $9.0 million. As a result, the Company’s book value grew to $35.62 per share at June 30, 2024, compared to $32.86 at June 30, 2023. The Company’s tangible book value per share, a non-GAAP measure, calculated by subtracting goodwill and other intangible assets from total shareholders’ equity and dividing that sum by total shares outstanding, was $26.13 per share at June 30, 2024, as compared to $23.30 at June 30, 2023. As noted above, changes in the fair value of available-for-sale investment securities, net of deferred taxes continue to create moderate levels of volatility in tangible book value per share.

Trailing Quarter Balance Sheet Change

Ending balances	June 30, 2024		March 31, 2024				Annualized  % Change
(dollars in thousands)					$ Change
Total assets	$	9,741,399	$	9,813,767	$	(72,368)	(2.9)	%
Total loans	6,742,526		6,800,695		(58,169)		(3.4)
Total investments	2,086,090		2,221,555		(135,465)		(24.4)
Total deposits	8,050,230		7,987,658		62,572		3.1
Total other borrowings	247,773		392,409		(144,636)		(147.4)

Loans outstanding decreased by $58.2 million or 3.4% on an annualized basis during the quarter ended June 30, 2024. During the quarter, loan originations/draws totaled approximately $310.1 million while payoffs/repayments of loans totaled $368.7 million, which compares to originations/draws and payoffs/repayments during the trailing quarter ended of $325.5 million and $321.3 million, respectively. Origination volume activity levels remain slightly lower relative to the comparative period in 2023 due in part to disciplined pricing and underwriting, as well as decreased borrower demand given economic uncertainties. The increase in payoffs/repayments as compared to the trailing quarter was spread amongst numerous borrowers, regions and loan types.

Investment security balances decreased $135.5 million or 24.4% on an annualized basis as a result of net prepayments, and maturities, collectively totaling approximating $164.0 million and, to a lesser extent, sales totaling $28.6 million, partially offset by security purchases totaling $53.5 million, in addition to net increases in the market value of securities of $4.1 million. Investment security purchases were comprised of floating rate instruments tied to SOFR with an initial weighted average coupon of 6.77% and a weighted average life of 4.7 years. Investment security sales were primarily comprised of fixed rate instruments with a weighted average coupon of 2.39% and a weighted average life of 3.8 years. While management intends to primarily utilize cash flows from the investment security portfolio and organic deposit growth to support loan growth, excess liquidity will be utilized for purchases of investment securities to support net interest income growth and net interest margin expansion.

Deposit balances increased by $62.6 million or 3.1% annualized during the period, led by growth within time deposits.

Other borrowings totaled $247.8 million at June 30, 2024, representing a net decrease of $144.6 million from the trailing quarter. This quarter over quarter decrease was facilitated by proceeds from the sale, call or maturity of investment securities, and growth in deposits.

Average Trailing Quarter Balance Sheet Change

Quarterly average balances for the period ended	June 30, 2024		March 31, 2024				Annualized % Change
(dollars in thousands)					$ Change
Total assets	$	9,782,228	$	9,855,797	$	(73,569)	(3.0)	%
Total loans	6,792,303		6,785,840		6,463		0.4
Total investments	2,141,291		2,266,320		(125,029)		(22.1)
Total deposits	8,024,441		7,821,044		203,397		10.4
Total other borrowings	325,604		584,696		(259,092)		(177.2)

3

Year Over Year Balance Sheet Change

Ending balances	As of June 30,						% Change
(dollars in thousands)	2024		2023		$ Change
Total assets	$	9,741,399	$	9,853,421	$	(112,022)	(1.1)	%
Total loans	6,742,526		6,520,740		221,786		3.4
Total investments	2,086,090		2,485,378		(399,288)		(16.1)
Total deposits	8,050,230		8,095,365		(45,135)		(0.6)
Total other borrowings	247,773		392,714		(144,941)		(36.9)

Loan balances increased as a result of organic activities by approximately $221.8 million or 3.4% during the twelve-month period ending June 30, 2024. Over the same period deposit balances have declined by $45.1 million or 0.6%. The Company has offset these declines through the deployment of excess cash balances and maturity or sale of investment security balances.

Primary Sources of Liquidity

(dollars in thousands)	June 30, 2024		March 31, 2024		June 30, 2023
Borrowing capacity at correspondent banks and FRB	$	2,998,009	$	2,882,859	$	2,847,052
Less: borrowings outstanding	(225,000)		(367,000)		(350,000)
Unpledged available-for-sale (AFS) investment securities	1,285,185		1,435,990		1,813,894
Cash held or in transit with FRB	163,809		41,541		79,530
Total primary liquidity	$	4,222,003	$	3,993,390	$	4,390,476

Estimated uninsured deposit balances $ 2,486,910  $ 2,450,179  $ 2,522,718 

On June 30, 2024, the Company's primary sources of liquidity represented 52% of total deposits and 170% of estimated total uninsured (excluding collateralized municipal deposits and intercompany balances) deposits, respectively. As secondary sources of liquidity, the Company's held-to-maturity investment securities had a fair value of $113.7 million, including approximately $9.0 million in net unrealized losses.

Net Interest Income and Net Interest Margin

During the twelve-month period ended June 30, 2024, the Federal Open Market Committee's (FOMC) actions have resulted in an increase in the Fed Funds Rate by approximately 25 basis points. During the same period the Company's yield on total loans increased 44 basis points to 5.82% for the three months ended June 30, 2024, from 5.38% for the three months ended June 30, 2023. The tax equivalent yield on the Company's investment security portfolio was 3.42% for the quarter ended June 30, 2024, an increase of 18 basis points from the 3.24% for the three months ended June 30, 2023. The cost of total interest-bearing deposits and total interest-bearing liabilities increased by 119 basis points and 102 basis points, respectively, between the three-month periods ended June 30, 2024 and 2023. Since FOMC rate actions began in March 2022, the Company's cost of total deposits has increased 141 basis points which translates to a cycle to date deposit beta of 26.9%.

The Company continues to manage its cost of deposits through the use of various pricing and product mix strategies. As of June 30, 2024, December 31, 2023, and June 30, 2023, deposits priced utilizing these strategies totaled $1.4 billion, $1.3 billion and $1.0 billion, respectively, and carried weighted average rates of 3.80%, 3.60%, and 3.38%, respectively.

	Three months ended
	June 30, 2024			March 31, 2024
(dollars in thousands)							Change			% Change
Interest income	$	117,032		$	115,417		$	1,615		1.4	%
Interest expense	(35,035)			(32,681)			(2,354)			7.2	%
Fully tax-equivalent adjustment (FTE) (1)	275			275			—			—	%
Net interest income (FTE)	$	82,272		$	83,011		$	(739)		(0.9)	%
Net interest margin (FTE)	3.68		%	3.68		%
Acquired loans discount accretion, net:
Amount (included in interest income)	$	850		$	1,332		$	(482)		(36.2)	%
Net interest margin less effect of acquired loan discount accretion(1)	3.64		%	3.62		%	0.02		%

4

	Three months ended June 30,
(dollars in thousands)	2024			2023			Change			% Change
Interest income	$	117,032		$	107,158		$	9,874		9.2	%
Interest expense	(35,035)			(18,557)			(16,478)			88.8	%
Fully tax-equivalent adjustment (FTE) (1)	275			379			(104)			(27.4)	%
Net interest income (FTE)	$	82,272		$	88,980		$	(6,708)		(7.5)	%
Net interest margin (FTE)	3.68		%	3.96		%
Acquired loans discount accretion, net:
Amount (included in interest income)	$	850		$	1,471		$	(621)		(42.2)	%
Net interest margin less effect of acquired loan discount accretion(1)	3.64		%	3.89		%	(0.25)		%

	Six months ended June 30,
(dollars in thousands)	2024			2023			Change			% Change
Interest income	$	232,449		$	210,065		$	22,384		10.7	%
Interest expense	(67,716)			(28,128)			(39,588)			140.7	%
Fully tax-equivalent adjustment (FTE) (1)	550			770			(220)			(28.6)	%
Net interest income (FTE)	$	165,283		$	182,707		$	(17,424)		(9.5)	%
Net interest margin (FTE)	3.68		%	4.08		%
Acquired loans discount accretion, net:
Amount (included in interest income)	$	2,182		$	2,868		$	(686)		(23.9)	%
Net interest margin less effect of acquired loan discount accretion(1)	3.63		%	4.02		%	(0.39)		%

Six months ended
June 30,

(1)Certain information included herein is presented on a fully tax-equivalent (FTE) basis and / or to present additional financial details which may be desired by users of this financial information. The Company believes the use of these non-generally accepted accounting principles (non-GAAP) measures provide additional clarity in assessing its results, and the presentation of these measures are common practice within the banking industry. See additional information related to non-GAAP measures at the back of this document.

5

Analysis Of Change In Net Interest Margin On Earning Assets

	Three months ended						Three months ended						Three months ended
(dollars in thousands)	June 30, 2024						March 31, 2024						June 30, 2023
	Average Balance		Income/ Expense		Yield/ Rate		Average Balance		Income/ Expense		Yield/ Rate		Average Balance		Income/ Expense		Yield/ Rate
Assets
Loans	$	6,792,303	$	98,229	5.82	%	$	6,785,840	$	96,485	5.72	%	$	6,467,381	$	86,747	5.38	%
Investments-taxable	2,003,124		17,004		3.41	%	2,127,420		17,829		3.37	%	2,343,511		18,775		3.21	%
Investments-nontaxable (1)	138,167		1,190		3.46	%	138,900		1,192		3.45	%	181,823		1,641		3.62	%
Total investments	2,141,291		18,194		3.42	%	2,266,320		19,021		3.38	%	2,525,334		20,416		3.24	%
Cash at Fed Reserve and other banks	68,080		884		5.22	%	14,377		186		5.20	%	29,349		374		5.11	%
Total earning assets	9,001,674		117,307		5.24	%	9,066,537		115,692		5.13	%	9,022,064		107,537		4.78	%
Other assets, net	780,554						789,260						826,127
Total assets	$	9,782,228					$	9,855,797					$	9,848,191
Liabilities and shareholders’ equity
Interest-bearing demand deposits	$	1,769,370	$	6,215	1.41	%	$	1,710,844	$	4,947	1.16	%	$	1,657,714	$	2,173	0.53	%
Savings deposits	2,673,272		12,260		1.84	%	2,651,917		10,900		1.65	%	2,768,981		6,936		1.00	%
Time deposits	1,016,190		10,546		4.17	%	811,894		7,682		3.81	%	426,689		2,348		2.21	%
Total interest-bearing deposits	5,458,832		29,021		2.14	%	5,174,655		23,529		1.83	%	4,853,384		11,457		0.95	%
Other borrowings	325,604		4,118		5.09	%	584,696		7,378		5.08	%	477,256		5,404		4.54	%
Junior subordinated debt	101,128		1,896		7.54	%	101,106		1,774		7.06	%	101,056		1,696		6.73	%
Total interest-bearing liabilities	5,885,564		35,035		2.39	%	5,860,457		32,681		2.24	%	5,431,696		18,557		1.37	%
Noninterest-bearing deposits	2,565,609						2,646,389						3,128,131
Other liabilities	161,731						174,359						176,141
Shareholders’ equity	1,169,324						1,174,592						1,112,223
Total liabilities and shareholders’ equity	$	9,782,228					$	9,855,797					$	9,848,191
Net interest rate spread (1) (2)					2.85	%					2.89	%					3.41	%
Net interest income and margin (1) (3)			$	82,272	3.68	%			$	83,011	3.68	%			$	88,980	3.96	%

(1)Fully taxable equivalent (FTE). All yields and rates are calculated using specific day counts for the period and year as applicable.

(2)Net interest spread is the average yield earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(3)Net interest margin is computed by calculating the difference between interest income and interest expense, divided by the average balance of interest-earning assets.

Net interest income (FTE) during the three months ended June 30, 2024, decreased $0.7 million or 0.9% to $82.3 million compared to $83.0 million during the three months ended March 31, 2024. Net interest margin of 3.68% remained consistent with the trailing quarter. The decrease in net interest income is primarily attributed to an additional $5.5 million or 23.3% increase in deposit interest expense due to changes in product mix, as customers continue to migrate towards higher yielding term deposit accounts. Deposit cost increases during the current quarter were also influenced by continued competitive pricing pressures. These increases in deposit costs were partially offset by a $3.3 million reduction in interest expense on other borrowings costs as the average balance of those borrowings decreased by $259.1 million during the period. Additionally, interest and fee income on loans increased $1.7 million as both rates and average balances on loans increased when compared to the trailing quarter.

As compared to the same quarter in the prior year, average loan yields increased 44 basis points from 5.38% during the three months ended June 30, 2023, to 5.82% during the three months ended June 30, 2024. The accretion of discounts from acquired loans added 5 basis points and 9 basis points to loan yields during the quarters ended June 30, 2024 and June 30, 2023, respectively. The cost of interest-bearing deposits increased by 119 basis points between the quarter ended June 30, 2024, and the same quarter of the prior year. In addition, the average balance of noninterest-bearing deposits decreased by $562.5 million from the three-month average for the period ended June 30, 2023 amidst a continued migration of customer funds to interest-bearing products.

For the quarter ended June 30, 2024, the ratio of average total noninterest-bearing deposits to total average deposits was 32.0%, as compared to 33.8% and 39.2% for the quarters ended March 31, 2024 and June 30, 2023, respectively.

6

(dollars in thousands)	Six months ended June 30, 2024						Six months ended June 30, 2023
	Average Balance		Income/ Expense		Yield/ Rate		Average Balance		Income/ Expense		Yield/ Rate
Assets
Loans	$	6,789,072	$	194,713	5.77	%	$	6,440,817	$	169,161	5.30	%
Investments-taxable	2,065,412		34,833		3.39	%	2,370,722		37,691		3.21	%
Investments-nontaxable (1)	138,534		2,382		3.46	%	185,417		3,340		3.63	%
Total investments	2,203,946		37,215		3.40	%	2,556,139		41,031		3.24	%
Cash at Fed Reserve and other banks	41,229		1,071		5.22	%	28,090		643		4.62	%
Total earning assets	9,034,247		232,999		5.19	%	9,025,046		210,835		4.71	%
Other assets, net	784,765						838,425
Total assets	$	9,819,012					$	9,863,471
Liabilities and shareholders’ equity
Interest-bearing demand deposits	$	1,740,107	$	11,162	1.29	%	$	1,665,371	$	2,560	0.31	%
Savings deposits	2,662,595		23,159		1.75	%	2,833,365		11,090		0.79	%
Time deposits	914,042		18,229		4.01	%	351,166		2,952		1.70	%
Total interest-bearing deposits	5,316,744		52,550		1.99	%	4,849,902		16,602		0.69	%
Other borrowings	455,150		11,496		5.08	%	377,995		8,213		4.38	%
Junior subordinated debt	101,117		3,670		7.30	%	101,050		3,313		6.61	%
Total interest-bearing liabilities	5,873,011		67,716		2.32	%	5,328,947		28,128		1.06	%
Noninterest-bearing deposits	2,605,999						3,249,488
Other liabilities	168,044						185,123
Shareholders’ equity	1,171,958						1,099,913
Total liabilities and shareholders’ equity	$	9,819,012					$	9,863,471
Net interest rate spread (1) (2)					2.87	%					3.65	%
Net interest income and margin (1) (3)			$	165,283	3.68	%			$	182,707	4.08	%

(1)Fully taxable equivalent (FTE). All yields and rates are calculated using specific day counts for the period and year as applicable.

(2)Net interest spread is the average yield earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(3)Net interest margin is computed by calculating the difference between interest income and interest expense, divided by the average balance of interest-earning assets.

Interest Rates and Earning Asset Composition

As of June 30, 2024, the Company's loan portfolio consisted of approximately $6.8 billion in outstanding principal with a weighted average coupon rate of 5.47%. During the three-month periods ending June 30, 2024, March 31, 2024, and June 30, 2023, the weighted average coupon on loan production in the quarter was 7.98%, 7.78% and 6.85%, respectively. Included in the June 30, 2024 total loans are adjustable rate loans totaling $4.2 billion, of which, $921.0 million are considered floating based on the Wall Street Prime index. In addition, the Company holds certain investment securities with fair values totaling $339.9 million which are subject to repricing on not less than a quarterly basis.

Asset Quality and Credit Loss Provisioning

During the three months ended June 30, 2024, the Company recorded a provision for credit losses of $0.4 million, as compared to $4.3 million during the trailing quarter, and $9.7 million during the second quarter of 2023.

	Three months ended						Six months ended
(dollars in thousands)	June 30, 2024		March 31, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Addition to allowance for credit losses	$	335	$	4,015	$	8,980	$	4,350	$	13,295
Addition to (reversal of) reserve for unfunded loan commitments	70		290		670		360		550
Total provision for credit losses	$	405	$	4,305	$	9,650	$	4,710	$	13,845

The provision for credit losses on loans of $0.3 million during the recent quarter was the result of net charge-offs approximating $1.2 million and increases in reserves for qualitative factors, partially offset by a $0.5 million decrease in specific reserves for individually evaluated credits and other decreases in quantitative reserve requirements driven primarily by a decline in loan balances. The provision for credit losses was needed to partially replenish the allowance for credit losses on loans subsequent to processing net charge-offs during the quarter and to account for ongoing risks associated with the qualitative components of the ACL model, as compared to any significant deterioration in credit quality on the existing loan portfolio.

7

	Three months ended June 30,				Six months ended June 30,
(dollars in thousands)	2024		2023		2024		2023
Balance, beginning of period	$	124,394	$	108,407	$	121,522	$	105,680
Provision for credit losses	335		8,980		4,350		13,295
Loans charged-off	(1,610)		(277)		(2,885)		(2,035)
Recoveries of previously charged-off loans	398		219		530		389
Balance, end of period	$	123,517	$	117,329	$	123,517	$	117,329

The allowance for credit losses (ACL) was $123.5 million or 1.83% of total loans as of June 30, 2024. For the current quarter, the qualitative components of the ACL that contributed to an increase in required reserves primarily related to uncertainty around US policy and related effects on domestic economic trends that are inconsistent with those desired by the FOMC.

The Company utilizes a forecast period of approximately eight quarters and obtains the forecast data from publicly available sources as of the balance sheet date. This forecast data continues to evolve and includes improving shifts in the magnitude of changes for both the unemployment and GDP factors leading up to the balance sheet date. Despite continued declines on a year over year comparative basis, core inflation remains elevated from wage pressures, and higher living costs such as housing, energy and general services. Management notes the rapid intervals of rate increases by the Federal Reserve may create repricing risk for certain borrowers and continued inversion of the yield curve, creates informed expectations of the US potentially entering a recession within 12 months. While projected cuts in interest rates from the Federal Reserve during 2024 may improve this outlook, the uncertainty associated with the extent and timing of these potential reductions has inhibited a change to forecasted reserve levels. As a result, management continues to believe that certain credit weaknesses are likely present in the overall economy and that it is appropriate to maintain a reserve level that incorporates such risk factors.

Loans past due 30 days or more increased by $13.9 million during the quarter ended June 30, 2024, to $30.4 million, as compared to $16.5 million at March 31, 2024. The majority of loans identified as past due are well-secured by collateral, and approximately $13.3 million is less than 90 days delinquent. Non-performing loans were $32.8 million at June 30, 2024, a decrease of $1.4 million from $34.2 million as of March 31, 2024, and a decrease of $4.8 million from $37.6 million as of June 30, 2023. Management continues to proactively work with these borrowers to identify actionable and appropriate resolution strategies which are customary for the industries. Of the $32.8 million loans designated as non-performing as of June 30, 2024, approximately $11.7 million are current or less than 30 days past due with respect to payments required under their existing loan agreements.

	June 30,			% of Loans Outstanding		March 31,			% of Loans Outstanding		June 30,			% of Loans Outstanding
(dollars in thousands)	2024					2024					2023
Risk Rating:
Pass	$	6,536,223		96.9	%	$	6,616,294		97.3	%	$	6,299,893		96.6	%
Special Mention	101,324			1.5	%	108,073			1.6	%	155,678			2.4	%
Substandard	104,979			1.6	%	76,328			1.1	%	65,169			1.0	%
Total	$	6,742,526				$	6,800,695				$	6,520,740
Classified loans to total loans	1.56		%			1.12		%			1.00		%
Loans past due 30+ days to total loans	0.45		%			0.24		%			0.15		%

The ratio of classified loans to total loans of 1.56% as of June 30, 2024, increased 44 basis points from March 31, 2024 and increased 56 basis points from the comparative quarter ended 2023. The change in classified loans outstanding as compared to the trailing quarter totaled $21.9 million. Loans with the risk grade classification substandard increased by $28.7 million over the trailing quarter and relate primarily to five loans across two relationships totaling $25.2 million, including $18.0 million in agricultural and farmland loans and $7.2 million in non-owner occupied CRE loans. All loans within these relationships are performing as agreed and have substantial collateral support and borrower guarantees. As a percentage of total loans outstanding, classified assets remain consistent with volumes experienced prior to the recent quantitative easing cycle spurred by the COVID pandemic and reflect management's historically conservative approach to credit risk monitoring. The Company's combined criticized loan balances totaled $206.3 million as of June 30, 2024, an improvement of $14.5 million from June 30, 2023.

Outstanding balances on construction loans, which have historically been associated with elevated levels of risk, experienced balance reductions of $65.6 million during the current quarter. These reductions were primarily associated with $49.1 million in balances that were converted to term loans upon the completion of construction and achievement of stabilized occupancy, $44.0 million in balances that paid down or paid-off, and the offsetting balance representing new draws or originations.

Further, management has taken action to proactively assess the repayment capacity of borrowers that will likely be subject to rate resets in the near term. To date this analysis as well as management's observations of loans that have experienced a rate reset, have not resulted in the need to provide any concessions to borrowers.

As of June 30, 2024, other real estate owned consisted of 10 properties with a carrying value of approximately $2.5 million, which is unchanged from the trailing quarter end. Non-performing assets of $35.3 million at June 30, 2024, represented 0.36% of total assets, a change from the $36.7 million or 0.37% and $40.5 million or 0.41% as of March 31, 2024 and June 30, 2023, respectively.

8

Allocation of Credit Loss Reserves by Loan Type

	As of June 30, 2024				As of March 31, 2024				As of June 30, 2023
(dollars in thousands)	Amount		% of Loans Outstanding		Amount		% of Loans Outstanding		Amount		% of Loans Outstanding
Commercial real estate:
CRE - Non-Owner Occupied	$	37,155	1.66	%	$	36,687	1.65	%	$	33,042	1.54	%
CRE - Owner Occupied	15,873		1.67	%	16,111		1.65	%	20,208		2.08	%
Multifamily	15,973		1.60	%	15,682		1.60	%	14,075		1.48	%
Farmland	4,031		1.52	%	3,695		1.39	%	3,691		1.33	%
Total commercial real estate loans	73,032		1.64	%	72,175		1.62	%	71,016		1.63	%
Consumer:
SFR 1-4 1st Liens	14,604		1.65	%	14,140		1.60	%	13,134		1.58	%
SFR HELOCs and Junior Liens	10,087		2.91	%	9,942		2.88	%	10,608		2.92	%
Other	2,983		4.30	%	3,359		4.48	%	2,771		4.67	%
Total consumer loans	27,674		2.13	%	27,441		2.10	%	26,513		2.12	%
Commercial and Industrial	12,128		2.21	%	11,867		2.16	%	11,647		2.02	%
Construction	7,466		2.63	%	9,162		2.63	%	7,031		2.53	%
Agricultural Production	3,180		2.27	%	3,708		2.55	%	1,105		1.80	%
Leases	37		0.44	%	41		0.44	%	17		0.20	%
Allowance for credit losses	123,517		1.83	%	124,394		1.83	%	117,329		1.80	%
Reserve for unfunded loan commitments	6,210				6,140				4,865
Total allowance for credit losses	$	129,727	1.92	%	$	130,534	1.92	%	$	122,194	1.87	%

In addition to the allowance for credit losses above, the Company has acquired various performing loans whose fair value as of the acquisition date was determined to be less than the principal balance owed on those loans. This difference represents the collective discount of credit, interest rate and liquidity measurements which is expected to be amortized over the life of the loans. As of June 30, 2024, the unamortized discount associated with acquired loans totaled $22.5 million, which, when combined with the total allowance for credit losses above, represents 2.26% of total loans.

Non-interest Income

	Three months ended
(dollars in thousands)	June 30, 2024		March 31, 2024		Change		% Change
ATM and interchange fees	$	6,372	$	6,169	$	203	3.3	%
Service charges on deposit accounts	4,847		4,663		184		3.9	%
Other service fees	1,286		1,366		(80)		(5.9)	%
Mortgage banking service fees	438		428		10		2.3	%
Change in value of mortgage servicing rights	(147)		11		(158)		(1,436.4)	%
Total service charges and fees	12,796		12,637		159		1.3	%
Increase in cash value of life insurance	831		803		28		3.5	%
Asset management and commission income	1,359		1,128		231		20.5	%
Gain on sale of loans	388		261		127		48.7	%
Lease brokerage income	154		161		(7)		(4.3)	%
Sale of customer checks	301		312		(11)		(3.5)	%
(Loss) gain on sale or exchange of investment securities	(45)		—		(45)		n/m
(Loss) gain on marketable equity securities	(121)		(28)		(93)		332.1	%
Other income	203		497		(294)		(59.2)	%
Total other non-interest income	3,070		3,134		(64)		(2.0)	%
Total non-interest income	$	15,866	$	15,771	$	95	0.6	%

Total non-interest income increased $0.10 million or 0.6% to $15.9 million during the three months ended June 30, 2024, compared to $15.8 million during the quarter ended March 31, 2024. Increased transactions that drive interchange and service fee income caused revenues from these sources to increase by $0.4 million. Asset management and commission income also increased $0.2 million, or 20.5%, due primarily to increases in assets under management. Net losses related to investment activities were realized, as the Company improved liquidity and future earnings through the sale of investment securities, the losses from which were offset by gains recognized in association with the exchange of Visa Class B shares. Other income declined by $0.3 million or 59.2% during the quarter following $0.2 million in non-recurring realized gains recorded in the trailing quarter from alternative investments.

9

	Three months ended June 30,
(dollars in thousands)	2024		2023		Change		% Change
ATM and interchange fees	$	6,372	$	6,856	$	(484)	(7.1)	%
Service charges on deposit accounts	4,847		4,581		266		5.8	%
Other service fees	1,286		992		294		29.6	%
Mortgage banking service fees	438		454		(16)		(3.5)	%
Change in value of mortgage servicing rights	(147)		85		(232)		(272.9)	%
Total service charges and fees	12,796		12,968		(172)		(1.3)	%
Increase in cash value of life insurance	831		788		43		5.5	%
Asset management and commission income	1,359		1,158		201		17.4	%
Gain on sale of loans	388		295		93		31.5	%
Lease brokerage income	154		74		80		108.1	%
Sale of customer checks	301		407		(106)		(26.0)	%
(Loss) gain on sale or exchange of investment securities	(45)		—		(45)		n/m
(Loss) gain on marketable equity securities	(121)		(42)		(79)		188.1	%
Other income	203		93		110		118.3	%
Total other non-interest income	3,070		2,773		297		10.7	%
Total non-interest income	$	15,866	$	15,741	$	125	0.8	%

Non-interest income increased $0.1 million or 0.8% to $15.9 million during the three months ended June 30, 2024, compared to $15.7 million during the comparative quarter ended June 30, 2023. Interchange fees earned in the second quarter of 2023 were elevated as compared to the comparable 2024 quarter due to increased customer activity. The remaining various components of non-interest income are largely consistent period over period and in-line with commentary provided above.

	Six months ended June 30,
(dollars in thousands)	2024		2023		Change		% Change
ATM and interchange fees	$	12,541	$	13,200	$	(659)	(5.0)	%
Service charges on deposit accounts	9,510		8,012		1,498		18.7	%
Other service fees	2,652		2,158		494		22.9	%
Mortgage banking service fees	866		919		(53)		(5.8)	%
Change in value of mortgage servicing rights	(136)		(124)		(12)		9.7	%
Total service charges and fees	25,433		24,165		1,268		5.2	%
Increase in cash value of life insurance	1,634		1,590		44		2.8	%
Asset management and commission income	2,487		2,092		395		18.9	%
Gain on sale of loans	649		501		148		29.5	%
Lease brokerage income	315		172		143		83.1	%
Sale of customer checks	613		695		(82)		(11.8)	%
(Loss) gain on sale or exchange of investment securities	(45)		(164)		119		(72.6)	%
(Loss) gain on marketable equity securities	(149)		—		(149)		n/m
Other income	700		325		375		115.4	%
Total other non-interest income	6,204		5,211		993		19.1	%
Total non-interest income	$	31,637	$	29,376	$	2,261	7.7	%

Non-interest income increased $2.3 million or 7.7% to $31.6 million during the six months ended June 30, 2024, compared to $29.4 million during the comparative six months ended June 30, 2023. As noted above, interchange fees as driven by customer activities was elevated in the 2023 period and resulted in a decrease of $0.7 million as compared to the six months ended June 30, 2024. Service charges on deposit accounts increased by $1.5 million or 18.7% as compared to the equivalent period in 2023 following $0.9 million in waived or reversed fees as a courtesy to customers in the 2023 year. As noted above, elevated activity within asset management and realized gains from alternative investments contributed to the overall improvement.

10

Non-interest Expense

	Three months ended
(dollars in thousands)	June 30, 2024		March 31, 2024		Change		% Change
Base salaries, net of deferred loan origination costs	$	23,852	$	24,020	$	(168)	(0.7)	%
Incentive compensation	4,711		3,257		1,454		44.6	%
Benefits and other compensation costs	6,838		7,027		(189)		(2.7)	%
Total salaries and benefits expense	35,401		34,304		1,097		3.2	%
Occupancy	4,063		3,951		112		2.8	%
Data processing and software	5,094		5,107		(13)		(0.3)	%
Equipment	1,330		1,356		(26)		(1.9)	%
Intangible amortization	1,030		1,030		—		—	%
Advertising	819		762		57		7.5	%
ATM and POS network charges	1,987		1,661		326		19.6	%
Professional fees	1,814		1,340		474		35.4	%
Telecommunications	558		511		47		9.2	%
Regulatory assessments and insurance	1,144		1,251		(107)		(8.6)	%
Postage	340		308		32		10.4	%
Operational loss	244		352		(108)		(30.7)	%
Courier service	559		480		79		16.5	%
(Gain) loss on sale or acquisition of foreclosed assets	—		(38)		38		(100.0)	%
(Gain) loss on disposal of fixed assets	1		5		(4)		(80.0)	%
Other miscellaneous expense	3,955		4,124		(169)		(4.1)	%
Total other non-interest expense	22,938		22,200		738		3.3	%
Total non-interest expense	$	58,339	$	56,504	$	1,835	3.2	%
Average full-time equivalent staff	1,160		1,188		(28)		(2.4)	%

Total non-interest expense for the quarter ended June 30, 2024, increased $1.8 million or 3.2% to $58.3 million as compared to $56.5 million during the trailing quarter ended March 31, 2024. Total salaries and benefits expense increased by $1.1 million or 3.2%, reflecting the increase of $1.5 million in incentive compensation accruals related to production volumes associated with both loans and deposits, offset by a decrease of $0.4 million in benefits and other routine compensation expenses as it is common to observe seasonally higher benefit costs in the first quarter of any calendar year. Professional fees increased by $0.5 million or 35.4%, primarily due to timing differences related to legal and consulting projects.

	Three months ended June 30,
(dollars in thousands)	2024		2023		Change		% Change
Base salaries, net of deferred loan origination costs	$	23,852	$	24,059	$	(207)	(0.9)	%
Incentive compensation	4,711		4,377		334		7.6	%
Benefits and other compensation costs	6,838		6,278		560		8.9	%
Total salaries and benefits expense	35,401		34,714		687		2.0	%
Occupancy	4,063		3,991		72		1.8	%
Data processing and software	5,094		4,638		456		9.8	%
Equipment	1,330		1,436		(106)		(7.4)	%
Intangible amortization	1,030		1,656		(626)		(37.8)	%
Advertising	819		1,016		(197)		(19.4)	%
ATM and POS network charges	1,987		1,902		85		4.5	%
Professional fees	1,814		1,985		(171)		(8.6)	%
Telecommunications	558		809		(251)		(31.0)	%
Regulatory assessments and insurance	1,144		1,993		(849)		(42.6)	%
Postage	340		311		29		9.3	%
Operational loss	244		1,090		(846)		(77.6)	%
Courier service	559		483		76		15.7	%
(Gain) loss on disposal of fixed assets	1		18		(17)		(94.4)	%
Other miscellaneous expense	3,955		5,201		(1,246)		(24.0)	%
Total other non-interest expense	22,938		26,529		(3,591)		(13.5)	%
Total non-interest expense	$	58,339	$	61,243	$	(2,904)	(4.7)	%
Average full-time equivalent staff	1,160		1,210		(50)		(4.1)	%

11

Non-interest expense decreased $2.9 million or 4.7% to $58.3 million during the three months ended June 30, 2024, as compared to $61.2 million for the quarter ended June 30, 2023. Regulatory assessment charges decreased $0.8 million or 42.6% following changes in various assessments as compared to the same period of 2023. Additionally, operational losses decreased $0.8 million or 77.6% attributable to a normalized quarterly rate following non-recurring ATM burglary expenses totaling $0.7 million in the comparative period. Finally, other miscellaneous expense declined $1.2 million or 24.0% due to non-recurring charges in the comparative period totaling $0.8 million related to non-sufficient fee refunds and elevated provision expense on real estate owned approximating $0.5 million.

	Six months ended June 30,
(dollars in thousands)	2024		2023		Change		% Change
Base salaries, net of deferred loan origination costs	$	47,872	$	47,059	$	813	1.7	%
Incentive compensation	7,968		7,272		696		9.6	%
Benefits and other compensation costs	13,865		12,946		919		7.1	%
Total salaries and benefits expense	69,705		67,277		2,428		3.6	%
Occupancy	8,014		8,151		(137)		(1.7)	%
Data processing and software	10,201		8,670		1,531		17.7	%
Equipment	2,686		2,819		(133)		(4.7)	%
Intangible amortization	2,060		3,312		(1,252)		(37.8)	%
Advertising	1,581		1,775		(194)		(10.9)	%
ATM and POS network charges	3,648		3,611		37		1.0	%
Professional fees	3,154		3,574		(420)		(11.8)	%
Telecommunications	1,069		1,404		(335)		(23.9)	%
Regulatory assessments and insurance	2,395		2,785		(390)		(14.0)	%
Postage	648		610		38		6.2	%
Operational loss	596		1,525		(929)		(60.9)	%
Courier service	1,039		822		217		26.4	%
(Gain) loss on sale or acquisition of foreclosed assets	(38)		—		(38)		n/m
(Gain) loss on disposal of fixed assets	6		18		(12)		(66.7)	%
Other miscellaneous expense	8,079		8,684		(605)		(7.0)	%
Total other non-interest expense	45,138		47,760		(2,622)		(5.5)	%
Total non-interest expense	$	114,843	$	115,037	$	(194)	(0.2)	%
Average full-time equivalent staff	1,174		1,214		(40)		(3.3)	%

Non-interest expense decreased $0.2 million or 0.2% to $114.8 million during the six months ended June 30, 2024, as compared to $115.0 million for the six months ended June 30, 2023. This was largely attributed to non-cash intangible amortization expense declines of $1.3 million or 37.8% and operational loss decreases of $0.9 million or 60.9% due to reasons described above. These declines were partially offset by an increase of $2.4 million or 3.6% in total salaries and benefits expense to $69.7 million, largely from annual compensation adjustments and other routine increases in benefits and compensation. Salaries expense was also impacted by an increase in average compensation per employee as various strategic talent acquisitions were made in order to further prepare the Company to execute its growth objectives beyond $10 billion in total assets. Finally, data processing and software expenses increased by $1.5 million or 17.7% related to ongoing investments in the Company's data management and security infrastructure.

Provision for Income Taxes

The Company’s effective tax rate was 25.8% for the quarter ended June 30, 2024, as compared to 26.4% for the quarter ended March 31, 2024 and 28.4% for the year ended December 31, 2023. Differences between the Company's effective tax rate and applicable federal and state blended statutory rate of approximately 29.6% are due to the proportion of non-taxable revenues, non-deductible expenses, and benefits from tax credits as compared to the levels of pre-tax earnings.

Investor Contact

Peter G. Wiese, EVP & CFO, (530) 898-0300

12

About TriCo Bancshares

Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ: TCBK) headquartered in Chico, California, providing a unique brand of customer Service with Solutions available in traditional stand-alone and in-store bank branches and loan production offices in communities throughout California. Tri Counties Bank provides an extensive and competitive breadth of consumer, small business and commercial banking financial services, along with convenient around-the-clock ATMs, online and mobile banking access. Brokerage services are provided by Tri Counties Advisors through affiliation with Raymond James Financial Services, Inc. Visit www.TriCountiesBank.com to learn more.

Forward-Looking Statements

The statements contained herein that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond our control. We caution readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. These risks and uncertainties include, but are not limited to, the following: the conditions of the United States economy in general and the strength of the local economies in which we conduct operations; the impact of any future federal government shutdown and uncertainty regarding the federal government’s debt limit or changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; the impacts of inflation, interest rate, market and monetary fluctuations on the Company's business condition and financial operating results; the impact of changes in financial services industry policies, laws and regulations; regulatory restrictions affecting our ability to successfully market and price our products to consumers; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learning; extreme weather, natural disasters and other catastrophic events that may or may not be caused by climate change and their effects on the Company's customers and the economic and business environments in which the Company operates; the impact of a slowing U.S. economy, decreases in housing and commercial real estate prices, and potentially increased unemployment on the performance of our loan portfolio, the market value of our investment securities and possible other-than-temporary impairment of securities held by us due to changes in credit quality or rates; the availability of, and cost of, sources of funding and the demand for our products; adverse developments with respect to U.S. or global economic conditions and other uncertainties, including the impact of supply chain disruptions, commodities prices, inflationary pressures and labor shortages on the economic recovery and our business; the impacts of international hostilities, wars, terrorism or geopolitical events; adverse developments in the financial services industry generally such as the recent bank failures and any related impact on depositor behavior or investor sentiment; risks related to the sufficiency of liquidity; the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; the costs or effects of mergers, acquisitions or dispositions we may make, as well as whether we are able to obtain any required governmental approvals in connection with any such activities, or identify and complete favorable transactions in the future, and/or realize the anticipated financial and business benefits; the regulatory and financial impacts associated with exceeding $10 billion in total assets; the negative impact on our reputation and profitability in the event customers experience economic harm or in the event that regulatory violations are identified; the ability to execute our business plan in new markets; the future operating or financial performance of the Company, including our outlook for future growth and changes in the level and direction of our nonperforming assets and charge-offs; the appropriateness of the allowance for credit losses, including the assumptions made under our current expected credit losses model; any deterioration in values of California real estate, both residential and commercial; the effectiveness of the Company's asset management activities managing the mix of earning assets and in improving, resolving or liquidating lower-quality assets; the effect of changes in the financial performance and/or condition of our borrowers; changes in accounting standards and practices; changes in consumer spending, borrowing and savings habits; our ability to attract and maintain deposits and other sources of liquidity; the effects of changes in the level or cost of checking or savings account deposits on our funding costs and net interest margin; increasing noninterest expense and its impact on our financial performance; competition and innovation with respect to financial products and services by banks, financial institutions and non-traditional competitors including retail businesses and technology companies; the challenges of attracting, integrating and retaining key employees; the vulnerability of the Company's operational or security systems or infrastructure, the systems of third-party vendors or other service providers with whom the Company contracts, and the Company's customers to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and data/security breaches and the cost to defend against and respond to such incidents; the impact of the 2023 cyber security ransomware incident on our operations and reputation; increased data security risks due to work from home arrangements and email vulnerability; failure to safeguard personal information, and any resulting litigation; the effect of a fall in stock market prices on our brokerage and wealth management businesses; the transition from the LIBOR to new interest rate benchmarks; the emergence or continuation of widespread health emergencies or pandemics; the Company’s potential judgments, orders, settlements, penalties, fines and reputational damage resulting from pending or future litigation and regulatory investigations, proceedings and enforcement actions; and our ability to manage the risks involved in the foregoing. There can be no assurance that future developments affecting us will be the same as those anticipated by management. Additional factors that could cause results to differ materially from those described above can be found in our Annual Report on Form 10-K for the year ended December 31, 2023, which has been filed with the Securities and Exchange Commission (the “SEC”) and all subsequent filings with the SEC under Sections 13(a), 13(c), 14, and 15(d) of the Securities Act of 1934, as amended. Such filings are also available in the “Investor Relations” section of our website, https://www.tcbk.com/investor-relations and in other documents we file with the SEC. Annualized, pro forma, projections and estimates are not forecasts and may not reflect actual results. We undertake no obligation (and expressly disclaim any such obligation) to update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

13

TriCo Bancshares—Condensed Consolidated Financial Data (unaudited)

(dollars in thousands, except per share data)	Three months ended
	June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023			June 30, 2023
Revenue and Expense Data
Interest income	$	117,032		$	115,417		$	115,909		$	112,380		$	107,158
Interest expense	35,035			32,681			29,292			24,257			18,557
Net interest income	81,997			82,736			86,617			88,123			88,601
Provision for credit losses	405			4,305			5,990			4,155			9,650
Noninterest income:
Service charges and fees	12,796			12,637			12,848			13,075			12,968
Loss on sale or exchange of investment securities	(45)			—			(120)			—			—
Other income	3,115			3,134			3,312			2,909			2,773
Total noninterest income	15,866			15,771			16,040			15,984			15,741
Noninterest expense:
Salaries and benefits	35,401			34,304			34,055			34,463			34,714
Occupancy and equipment	5,393			5,307			5,358			5,451			5,427
Data processing and network	7,081			6,768			6,880			6,852			6,540
Other noninterest expense	10,464			10,125			13,974			11,112			14,562
Total noninterest expense	58,339			56,504			60,267			57,878			61,243
Total income before taxes	39,119			37,698			36,400			42,074			33,449
Provision for income taxes	10,085			9,949			10,325			11,484			8,557
Net income	$	29,034		$	27,749		$	26,075		$	30,590		$	24,892
Share Data
Basic earnings per share	$	0.88		$	0.83		$	0.78		$	0.92		$	0.75
Diluted earnings per share	$	0.87		$	0.83		$	0.78		$	0.92		$	0.75
Dividends per share	$	0.33		$	0.33		$	0.30		$	0.30		$	0.30
Book value per common share	$	35.62		$	35.06		$	34.86		$	32.18		$	32.86
Tangible book value per common share (1)	$	26.13		$	25.60		$	25.39		$	22.67		$	23.30
Shares outstanding	32,989,327			33,168,770			33,268,102			33,263,324			33,259,260
Weighted average shares	33,121,271			33,245,377			33,266,959			33,262,798			33,219,168
Weighted average diluted shares	33,243,955			33,370,118			33,351,737			33,319,291			33,301,548
Credit Quality
Allowance for credit losses to gross loans	1.83		%	1.83		%	1.79		%	1.73		%	1.80		%
Loans past due 30 days or more	$	30,372		$	16,474		$	19,415		$	8,072		$	9,483
Total nonperforming loans	$	32,774		$	34,242		$	31,891		$	29,799		$	37,592
Total nonperforming assets	$	35,267		$	36,735		$	34,595		$	32,651		$	40,506
Loans charged-off	$	1,610		$	1,275		$	749		$	5,357		$	276
Loans recovered	$	398		$	132		$	419		$	720		$	218
Selected Financial Ratios
Return on average total assets	1.19		%	1.13		%	1.05		%	1.23		%	1.01		%
Return on average equity	9.99		%	9.50		%	9.43		%	10.91		%	8.98		%
Average yield on loans	5.82		%	5.72		%	5.64		%	5.52		%	5.38		%
Average yield on interest-earning assets	5.24		%	5.13		%	5.09		%	4.94		%	4.78		%
Average rate on interest-bearing deposits	2.14		%	1.83		%	1.62		%	1.36		%	0.95		%
Average cost of total deposits	1.45		%	1.21		%	1.05		%	0.86		%	0.58		%
Average cost of total deposits and other borrowings	1.59		%	1.47		%	1.28		%	1.05		%	0.80		%
Average rate on borrowings & subordinated debt	5.65		%	5.35		%	5.26		%	4.96		%	4.92		%
Average rate on interest-bearing liabilities	2.39		%	2.24		%	2.01		%	1.71		%	1.37		%
Net interest margin (fully tax-equivalent) (1)	3.68		%	3.68		%	3.81		%	3.88		%	3.96		%
Loans to deposits	83.76		%	85.14		%	86.73		%	83.76		%	80.55		%
Efficiency ratio	59.61		%	57.36		%	58.71		%	55.59		%	58.69		%
Supplemental Loan Interest Income Data
Discount accretion on acquired loans	$	850		$	1,332		$	1,459		$	1,324		$	1,471
All other loan interest income (1)	$	97,379		$	95,153		$	94,382		$	90,383		$	85,276
Total loan interest income (1)	$	98,229		$	96,485		$	95,841		$	91,707		$	86,747

(1) Non-GAAP measure

14

TriCo Bancshares—Condensed Consolidated Financial Data (unaudited)

(dollars in thousands, except per share data)
Balance Sheet Data	June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023			June 30, 2023
Cash and due from banks	$	206,558		$	82,836		$	98,701		$	111,099		$	118,792
Securities, available for sale, net	1,946,167			2,076,494			2,155,138			2,176,854			2,323,011
Securities, held to maturity, net	122,673			127,811			133,494			139,058			145,117
Restricted equity securities	17,250			17,250			17,250			17,250			17,250
Loans held for sale	474			1,346			458			644			1,058
Loans:
Commercial real estate	4,461,111			4,443,768			4,394,802			4,367,445			4,343,924
Consumer	1,300,727			1,303,757			1,313,268			1,288,810			1,252,225
Commercial and industrial	548,625			549,780			586,455			599,757			576,247
Construction	283,374			348,981			347,198			320,963			278,425
Agriculture production	140,239			145,159			144,497			123,472			61,337
Leases	8,450			9,250			8,250			8,219			8,582
Total loans, gross	6,742,526			6,800,695			6,794,470			6,708,666			6,520,740
Allowance for credit losses	(123,517)			(124,394)			(121,522)			(115,812)			(117,329)
Total loans, net	6,619,009			6,676,301			6,672,948			6,592,854			6,403,411
Premises and equipment	70,621			71,001			71,347			71,760			72,619
Cash value of life insurance	138,525			137,695			136,892			136,016			135,332
Accrued interest receivable	35,527			35,783			36,768			34,595			32,835
Goodwill	304,442			304,442			304,442			304,442			304,442
Other intangible assets	8,492			9,522			10,552			11,768			13,358
Operating leases, right-of-use	25,113			26,240			26,133			27,363			29,140
Other assets	246,548			247,046			245,966			273,303			257,056
Total assets	$	9,741,399		$	9,813,767		$	9,910,089		$	9,897,006		$	9,853,421
Deposits:
Noninterest-bearing demand deposits	$	2,557,063		$	2,600,448		$	2,722,689		$	2,857,512		$	3,073,353
Interest-bearing demand deposits	1,791,466			1,742,875			1,731,814			1,746,882			1,751,998
Savings deposits	2,667,006			2,672,537			2,682,068			2,816,816			2,778,118
Time certificates	1,034,695			971,798			697,467			588,433			491,896
Total deposits	8,050,230			7,987,658			7,834,038			8,009,643			8,095,365
Accrued interest payable	12,018			10,224			8,445			6,688			3,655
Operating lease liability	27,122			28,299			28,261			29,527			31,377
Other liabilities	128,063			131,006			145,982			141,692			136,464
Other borrowings	247,773			392,409			632,582			537,975			392,714
Junior subordinated debt	101,143			101,120			101,099			101,080			101,065
Total liabilities	8,566,349			8,650,716			8,750,407			8,826,605			8,760,640
Common stock	691,878			696,464			697,349			696,369			695,305
Retained earnings	644,687			630,954			615,502			599,448			578,852
Accumulated other comprehensive loss, net of tax	(161,515)			(164,367)			(153,169)			(225,416)			(181,376)
Total shareholders’ equity	$	1,175,050		$	1,163,051		$	1,159,682		$	1,070,401		$	1,092,781
Quarterly Average Balance Data
Average loans	$	6,792,303		$	6,785,840		$	6,746,153		$	6,597,400		$	6,467,381
Average interest-earning assets	$	9,001,674		$	9,066,537		$	9,064,483		$	9,070,639		$	9,039,314
Average total assets	$	9,782,228		$	9,855,797		$	9,879,355		$	9,874,240		$	9,848,191
Average deposits	$	8,024,441		$	7,821,044		$	7,990,993		$	8,043,101		$	7,981,515
Average borrowings and subordinated debt	$	426,732		$	685,802		$	617,046		$	550,344		$	578,312
Average total equity	$	1,169,324		$	1,174,592		$	1,097,431		$	1,112,404		$	1,112,223
Capital Ratio Data
Total risk-based capital ratio	15.2		%	15.0		%	14.7		%	14.5		%	14.5		%
Tier 1 capital ratio	13.4		%	13.2		%	12.9		%	12.7		%	12.7		%
Tier 1 common equity ratio	12.7		%	12.5		%	12.2		%	12.0		%	12.0		%
Tier 1 leverage ratio	11.2		%	11.0		%	10.7		%	10.6		%	10.4		%
Tangible capital ratio (1)	9.1		%	8.9		%	8.8		%	7.9		%	8.1		%

(1) Non-GAAP measure

15

TriCo Bancshares—Non-GAAP Financial Measures (unaudited)

In addition to results presented in accordance with generally accepted accounting principles in the United States of America (GAAP), this press release contains certain non-GAAP financial measures. Management has presented these non-GAAP financial measures in this press release because it believes that they provide useful and comparative information to assess trends in the Company's core operations reflected in the current quarter's results and facilitate the comparison of our performance with the performance of our peers. However, these non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP. Where applicable, comparable earnings information using GAAP financial measures is also presented. Because not all companies use the same calculations, our presentation may not be comparable to other similarly titled measures as calculated by other companies. For a reconciliation of these non-GAAP financial measures, see the tables below:

	Three months ended						Six months ended
(dollars in thousands)	June 30, 2024		March 31, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Net interest margin
Acquired loans discount accretion, net:
Amount (included in interest income)	$850		$1,332		$1,471		$2,182		$2,868
Effect on average loan yield	0.05	%	0.08	%	0.09	%	0.08	%	0.09	%
Effect on net interest margin (FTE)	0.04	%	0.06	%	0.07	%	0.05	%	0.06	%
Net interest margin (FTE)	3.68	%	3.68	%	3.96	%	3.68	%	4.08	%
Net interest margin less effect of acquired loan discount accretion (Non-GAAP)	3.64	%	3.62	%	3.89	%	3.63	%	4.02	%

	Three months ended						Six months ended
(dollars in thousands)	June 30, 2024		March 31, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Pre-tax pre-provision return on average assets or equity
Net income (GAAP)	$29,034		$27,749		$24,892		$56,783		$60,725
Exclude provision for income taxes	10,085		9,949		8,557		20,034		21,706
Exclude provision for credit losses	405		4,305		9,650		4,710		13,845
Net income before income tax and provision expense (Non-GAAP)	$39,524		$42,003		$43,099		$81,527		$96,276
Average assets (GAAP)	$9,782,228		$9,855,797		$9,848,191		$9,819,012		$9,863,471
Average equity (GAAP)	$1,169,324		$1,174,592		$1,112,223		$1,171,958		$1,099,913
Return on average assets (GAAP) (annualized)	1.19	%	1.13	%	1.01	%	1.16	%	1.24	%
Pre-tax pre-provision return on average assets (Non-GAAP) (annualized)	1.63	%	1.71	%	1.76	%	1.67	%	1.97	%
Return on average equity (GAAP) (annualized)	9.99	%	9.50	%	8.98	%	9.74	%	11.13	%
Pre-tax pre-provision return on average equity (Non-GAAP) (annualized)	13.59	%	14.38	%	15.54	%	13.95	%	17.65	%

16

	Three months ended						Six months ended
(dollars in thousands)	June 30, 2024		March 31, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Return on tangible common equity
Average total shareholders' equity	$1,169,324		$1,174,592		$1,112,223		$1,171,958		$1,099,913
Exclude average goodwill	304,442		304,442		304,442		304,442		334,565
Exclude average other intangibles	9,007		10,037		14,716		9,522		15,901
Average tangible common equity (Non-GAAP)	$855,875		$860,113		$793,065		$857,994		$749,447
Net income (GAAP)	$29,034		$27,749		$24,892		$56,783		$60,725
Exclude amortization of intangible assets, net of tax effect	725		725		1,166		1,451		2,333
Tangible net income available to common shareholders (Non-GAAP)	$29,759		$28,474		$26,058		$58,234		$63,058
Return on average equity (GAAP) (annualized)	9.99	%	9.50	%	8.98	%	9.74	%	11.13	%
Return on average tangible common equity (Non-GAAP)	13.98	%	13.31	%	13.18	%	13.65	%	16.97	%

	Three months ended
(dollars in thousands)	June 30, 2024		March 31, 2024		December 31, 2023		September 30, 2023		June 30, 2023
Tangible shareholders' equity to tangible assets
Shareholders' equity (GAAP)	$1,175,050		$1,163,051		$1,159,682		$1,070,401		$1,092,781
Exclude goodwill and other intangible assets, net	312,934		313,964		314,994		316,210		317,800
Tangible shareholders' equity (Non-GAAP)	$862,116		$849,087		$844,688		$754,191		$774,981
Total assets (GAAP)	$9,741,399		$9,813,767		$9,910,089		$9,897,006		$9,853,421
Exclude goodwill and other intangible assets, net	312,934		313,964		314,994		316,210		317,800
Total tangible assets (Non-GAAP)	$9,428,465		$9,499,803		$9,595,095		$9,580,796		$9,535,621
Shareholders' equity to total assets (GAAP)	12.06	%	11.85	%	11.70	%	10.82	%	11.09	%
Tangible shareholders' equity to tangible assets (Non-GAAP)	9.14	%	8.94	%	8.80	%	7.87	%	8.13	%

	Three months ended
(dollars in thousands)	June 30, 2024	March 31, 2024	December 31, 2023	September 30, 2023	June 30, 2023
Tangible common shareholders' equity per share
Tangible shareholders' equity (Non-GAAP)	$862,116	$849,087	$844,688	$754,191	$774,981
Common shares outstanding at end of period	32,989,327	33,168,770	33,268,102	33,263,324	33,259,260
Common shareholders' equity (book value) per share (GAAP)	$35.62	$35.06	$34.86	$32.18	$32.86
Tangible common shareholders' equity (tangible book value) per share (Non-GAAP)	$26.13	$25.60	$25.39	$22.67	$23.30

17

EX-99.2

Investor Presentation | Second Quarter 2024 Investor Presentation Second Quarter 2024 Richard P. Smith, President & Chief Executive Officer Daniel K. Bailey, EVP & Chief Banking Officer John S. Fleshood, EVP & Chief Operating Officer Peter G. Wiese, EVP & Chief Financial Officer Exhibit 99.2

Investor Presentation | Second Quarter 2024 2 Safe Harbor Statement The statements contained herein that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond our control. We caution readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. These risks and uncertainties include, but are not limited to, the following: the conditions of the United States economy in general and the strength of the local economies in which we conduct operations; the impact of any future federal government shutdown and uncertainty regarding the federal government’s debt limit or changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; the impacts of inflation, interest rate, market and monetary fluctuations on the Company's business condition and financial operating results; the impact of changes in financial services industry policies, laws and regulations; regulatory restrictions affecting our ability to successfully market and price our products to consumers; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learning; extreme weather, natural disasters and other catastrophic events that may or may not be caused by climate change and their effects on the Company's customers and the economic and business environments in which the Company operates; the impact of a slowing U.S. economy, decreases in housing and commercial real estate prices, and potentially increased unemployment on the performance of our loan portfolio, the market value of our investment securities and possible other-than-temporary impairment of securities held by us due to changes in credit quality or rates; the availability of, and cost of, sources of funding and the demand for our products; adverse developments with respect to U.S. or global economic conditions and other uncertainties, including the impact of supply chain disruptions, commodities prices, inflationary pressures and labor shortages on the economic recovery and our business; the impacts of international hostilities, wars, terrorism or geopolitical events; adverse developments in the financial services industry generally such as the recent bank failures and any related impact on depositor behavior or investor sentiment; risks related to the sufficiency of liquidity; the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; the costs or effects of mergers, acquisitions or dispositions we may make, as well as whether we are able to obtain any required governmental approvals in connection with any such activities, or identify and complete favorable transactions in the future, and/or realize the anticipated financial and business benefits; the regulatory and financial impacts associated with exceeding $10 billion in total assets; the negative impact on our reputation and profitability in the event customers experience economic harm or in the event that regulatory violations are identified; the ability to execute our business plan in new markets; the future operating or financial performance of the Company, including our outlook for future growth and changes in the level and direction of our nonperforming assets and charge-offs; the appropriateness of the allowance for credit losses, including the assumptions made under our current expected credit losses model; any deterioration in values of California real estate, both residential and commercial; the effectiveness of the Company's asset management activities managing the mix of earning assets and in improving, resolving or liquidating lower-quality assets; the effect of changes in the financial performance and/or condition of our borrowers; changes in accounting standards and practices; changes in consumer spending, borrowing and savings habits; our ability to attract and maintain deposits and other sources of liquidity; the effects of changes in the level or cost of checking or savings account deposits on our funding costs and net interest margin; increasing noninterest expense and its impact on our financial performance; competition and innovation with respect to financial products and services by banks, financial institutions and non-traditional competitors including retail businesses and technology companies; the challenges of attracting, integrating and retaining key employees; the vulnerability of the Company's operational or security systems or infrastructure, the systems of third-party vendors or other service providers with whom the Company contracts, and the Company's customers to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and data/security breaches and the cost to defend against and respond to such incidents; the impact of the 2023 cyber security ransomware incident on our operations and reputation; increased data security risks due to work from home arrangements and email vulnerability; failure to safeguard personal information, and any resulting litigation; the effect of a fall in stock market prices on our brokerage and wealth management businesses; the transition from the LIBOR to new interest rate benchmarks; the emergence or continuation of widespread health emergencies or pandemics; the Company’s potential judgments, orders, settlements, penalties, fines and reputational damage resulting from pending or future litigation and regulatory investigations, proceedings and enforcement actions; and our ability to manage the risks involved in the foregoing. There can be no assurance that future developments affecting us will be the same as those anticipated by management. Additional factors that could cause results to differ materially from those described above can be found in our Annual Report on Form 10-K for the year ended December 31, 2023, which has been filed with the Securities and Exchange Commission (the “SEC”) and all subsequent filings with the SEC under Sections 13(a), 13(c), 14, and 15(d) of the Securities Act of 1934, as amended. Such filings are also available in the “Investor Relations” section of our website, https://www.tcbk.com/investor-relations and in other documents we file with the SEC. Annualized, pro forma, projections and estimates are not forecasts and may not reflect actual results. We undertake no obligation (and expressly disclaim any such obligation) to update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Investor Presentation | Second Quarter 2024 3 Tri Counties Bank Awards Forbes Magazine America’s Best Banks 2024 Best-In-State Bank 2021 Sacramento Rainbow Chamber of Commerce Corporate Advocate of the Year 2024 Cen Cal Business Finance Group SBA-504 Lender of the Year 2023 Sacramento Business Journal Best Places to Work 2024 Corporate Citizenship: Corporate Champion for Basic Needs 2022 S&P Global Market Intelligence Top Community Bank with $3 billion to $10 billion in assets 2022, 2023 Record Searchlight Best Bank in the North State 2015, 2016, 2018, 2022, 2023 Chico Enterprise Record Readers' Choice Best Bank Won every year from 2019 to 2024 Chico News & Review Best Bank Won every year from 2008 to 2019, then 2022 and 2023 Marysville Appeal-Democrat Favorite Bank 2019, 2021, 2023 Formstack: Practically Genius Award Creative Digital Innovation of the Year 2021 Colusa County Pioneer Review Best Bank Won every year from 2019 to 2021 Times Standard Best of North Coast 2020 Gustine Press-Standard Best Bank 2023 Style Magazine Reader's Choice – Roseville, Granite Bay & Rocklin Won every year from 2011 to 2023 California Black Chamber of Commerce Top Partner Award 2023 Raymond James Community Bankers Cup Award Top 10% of Community Banks 2019, 2021, 2022 Habitat for Humanity of Greater Sacramento Hammy Award: Finance Partner 2022 Auburn Journal Best Bank Won every year from 2019 to 2022 Grass Valley Union Best of Nevada County Won every year from 2011 to 2023

Investor Presentation | Second Quarter 2024 4 Executive Team Greg Gehlmann SVP General Counsel Craig Carney EVP Chief Credit Officer Rick Smith President & Chief Executive Officer Dan Bailey EVP Chief Banking Officer John Fleshood EVP Chief Operating Officer Angela Rudd SVP Chief Risk Officer Judi Giem SVP Chief Human Resources Officer Jason Levingston SVP Chief Information Officer Peter Wiese EVP Chief Financial Officer Scott Robertson SVP Chief Community Banking Officer

Investor Presentation | Second Quarter 2024 Agenda 5  Most Recent Quarter Recap  Company Overview  Lending Overview  Deposit Overview  Financials

Investor Presentation | Second Quarter 2024 6 Most Recent Quarter Highlights  Pre-tax pre-provision ROAA and ROAE were 1.63% and 13.19%, respectively, for the quarter ended June 30, 2024, and 1.76% and 15.54%, respectively, for the same quarter in the prior year  Our efficiency ratio was 59.6% for the quarter ended June 30, 2024, compared to 57.4% for the trailing quarter end and 58.7% for the quarter ended June 30, 2023 Operating Leverage and Profitability  Net interest margin (FTE) of 3.68%, was unchanged from the trailing quarter  Average yield on earning assets (FTE) of 5.24% was 11 basis points higher than the 5.13% in the trailing quarter, while the cost of interest-bearing liabilities increased 15 basis points to 2.39% from 2.24%  Company's total cost of deposits have increased 141 basis points since FOMC rate actions began in March 2022, which translates to a cycle-to-date deposit beta of 26.9% Net Interest Income and Margin  Deposit balances increased $62.6 million or 3.1% (annualized) from the trailing quarter  Loan to deposit ratio decreased to 83.8% at June 30, 2024 compared to 85.1% in the trailing quarter  Investment security balances decreased $135.5 million or 24.4% on an annualized basis, driven primarily by net prepayments, and maturities, collectively totaling approximating $164.0 million  Other borrowings decreased by $144.6 million to $247.8 million as compared to the trailing quarter, continuing momentum from the first quarter, the average quarterly balance of other borrowings decreased$259.1 million. Balance Sheet Management  Readily available and unused funding sources, which total approximately $4.2 billion and represent 53% of total deposits and 170% of total estimated uninsured deposits.  No reliance on brokered deposits or FRB borrowing facilities during 2024 or 2023 Liquidity  The allowance for credit losses to total loans was 1.83% as of June 30, 2024, unchanged from the trailing quarter and compared to 1.80% as of June 30, 2023  With non-performing assets to total assets remaining well below 0.50% and the allowance for credit losses representing over 3.5x of non-performing loans, we believe the overall credit risk profile remains historically low Credit Quality  Average non-interest-bearing deposits comprised 32.0% of average total deposits for the quarter  Virtual 50/50 split between consumer and business deposit dollars reflects a diversified client baseDiverse Deposit Base  All regulatory capital ratios continue to climb, with three successive quarters of increases  Maintained the 2024 quarterly dividend of $0.33 or $1.32 annually as compared to the $1.20 paid in 2023  Approximately 865,000 shares remain authorized for repurchase  Tangible capital ratio of 9.1% at June 30, 2024, an increase from 8.1% at June 2023, due primarily to the retention of earnings. Capital Strategies

Investor Presentation | Second Quarter 2024 7 Company Overview Nasdaq: TCBK Headquarters: Chico, California Stock Price*: $39.57 Market Cap.: $1.31 Billion Asset Size: $9.74 Billion Loans: $6.74 Billion Deposits: $8.05 Billion Bank Branches: 68 ATMs: 85 Bank ATMs, with access to ~ 40,000 in network Market Area: TriCo currently serves 31 counties throughout California * As of close of business June 30, 2024

Investor Presentation | Second Quarter 2024 8 “Recurring Critical and Strategic Themes Noted in Recent Executive Discussions”  Scaling and Leverage: Finding the right partner(s) at the right time to cross $10 Billion in total assets while maintaining appropriate earning asset levels  New customer relationships: Continued identification of new relationships and their acquisition while expanding services to existing customers – a holistic understanding of their balance sheet and financial services needs  Capital: Balance of regulatory and shareholder expectations while maintaining and utilizing all available tools  Active Credit Management: Continual and proactive monitoring for early warning signs of credit risk, resolution of credit deterioration, and the simulation of credit impact as may be caused by actual or potential local / global / industry events  Operating Costs: Rationalization of costs through the relentless pursuit of redundant expenses / overlapping vendor services and partially-implemented technologies  Regulatory Focus Areas: Enterprise Risk Management, Compliance, CFPB preparedness, and the hurdles associated with merger approvals

Investor Presentation | Second Quarter 2024 9 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Net Income ($MM) $23.1 $23.4 $22.9 $16.1 $7.4 $17.6 $23.6 $33.6 $28.4 $27.4 $28.2 $20.4 $31.4 $37.3 $36.3 $35.8 $24.9 $30.6 $26.1 $27.7 $29.0 Qtrly Diluted EPS $0.75 $0.76 $0.75 $0.53 $0.25 $0.59 $0.79 $1.13 $0.95 $0.92 $0.94 $0.67 $0.93 $1.12 $1.09 $1.07 $0.75 $0.92 $0.78 $0.83 $0.87 $0.00 $0.40 $0.80 $1.20 $0 $4 $8 $12 $16 $20 $24 $28 $32 $36 $40 Q tr ly E P S ( di lu te d) E a rn in gs ( in M ill io n s) Positive Earnings Track Record March 2022 Acquired Valley Republic Bancorp ($1.4B assets) 2020 Elevated ACL Provisioning Associated with COVID Related Risks

Investor Presentation | Second Quarter 2024 10 $0.60 $0.74 $0.53 $1.13 $0.67 $1.07 $0.83 $0.65 $0.75 $0.25 $0.95 $0.93 $0.75 $0.87 $0.53 $0.76 $0.59 $0.92 $1.12 $0.92 $0.75 $0.79 $0.94 $1.09 $0.78 $2.54 $3.00 $2.16 $3.94 $3.83 $3.52 $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 $5.00 2018 2019 2020 2021 2022 2023 2024 Q1 Q2 Q3 Q4 27% 27% 41% 25% 29% 34% 39% 2018 2019 2020 2021 2022 2023 2024 10.75% 10.49% 7.18% 12.10% 11.67% 10.65% 9.74% 2018 2019 2020 2021 2022 2023 2024 $0.17 $0.19 $0.22 $0.25 $0.25 $0.30 $0.33 $0.17 $0.19 $0.22 $0.25 $0.25 $0.30 $0.33 $0.17 $0.22 $0.22 $0.25 $0.30 $0.30 $0.19 $0.22 $0.22 $0.25 $0.30 $0.30 $0.70 $0.82 $0.88 $1.00 $1.10 $1.20 $0.00 $0.25 $0.50 $0.75 $1.00 $1.25 2018 2019 2020 2021 2022 2023 2024 Q1 Q2 Q3 Q4 Shareholder Returns Dividends per Share: 10% CAGR* Dividends as % of Earnings Return on Avg. Shareholder Equity Diluted EPS *Compound Annual Growth Rate, 5 years

Investor Presentation | Second Quarter 2024 11 Asset Growth Organic Growth and Disciplined Acquisitions Asset Dollars in Billions 10 yrs.5 yrs. 13.7%8.9% CAGR, Assets Trailing 10 years Trailing 5 quarters

Investor Presentation | Second Quarter 2024 Deposits 12

Investor Presentation | Second Quarter 2024 13 4 0 .7 4 0 .7 4 0 .4 4 1 .1 4 1 .2 4 2 .5 4 2 .0 4 0 .3 3 8 .0 3 5 .7 3 4 .8 3 2 .6 3 1 .8 0 10 20 30 40 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 Non Interest-bearing Deposits as % of Total Deposits TCBK Peers 7 0 .1 6 6 .9 6 6 .0 6 6 .4 6 9 .1 7 2 .1 7 6 .5 7 9 .5 8 0 .4 8 4 .0 8 7 .7 8 7 .7 8 6 .6 0 20 40 60 80 100 120 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 Loans to Core Deposits (%) TCBK Peers Liability Mix: Strength in Funding Total Deposits = $8.05 billion 95.8% of Funding Liabilities Liability Mix 06/30/2024  Peer group consists of 99 closest peers in terms of asset size, range $4.7-11.5 Billion; source: BankRegData.com  Net Loans includes LHFS and Allowance for Credit Loss; Core Deposits = Total Deposits less CDs > 250k and Brokered Deposits (0.03% Funding Cost) Non Interest- bearing Demand Deposits, 29.9% Interest-bearing Demand & Savings Deposits, 52.0% Time Deposits, 12.1% Borrowings & Subordinated Debt, 4.1% Other liabilities, 2.0%

Investor Presentation | Second Quarter 2024 14  Continued best in class total deposit Beta, 26.9% cycle to date $324 $327 $298 $349 $327 $304 $224 $346 $492 $588 $697 $972 $1,035 $3,824 $3,967 $4,090 $4,783 $4,825 $4,674 $4,603 $4,443 $4,530 $4,564 $4,414 $4,415 $4,458 $2,844 $2,943 $2,980 $3,583 $3,604 $3,678 $3,502 $3,237 $3,073 $2,858 $2,723 $2,600 $2,557 $6,992 $7,237 $7,367 $8,714 $8,757 $8,656 $8,329 $8,026 $8,095 $8,010 $7,834 $7,988 $8,050 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Deposits: Strength in Cost of Funds Balances presented in millions, end of period

Investor Presentation | Second Quarter 2024 15 $590 $281 $154 $77 $90 - 100 200 300 400 500 600 700 800 $0-$100k >$100k-$250k >$250k - $500k >$500k - $1mln >$1mln Prior Quarter N o rt h er n $226 $193 $142 $131 $301 - 100 200 300 400 500 600 700 800 $0-$100k >$100k-$250k >$250k - $500k >$500k - $1mln >$1mln $256 $215 $199 $206 $804 - 100 200 300 400 500 600 700 800 $426 $290 $193 $148 $261 - 100 200 300 400 500 600 700 800 $822 $490 $297 $210 $425 - 100 200 300 400 500 600 700 800 G re a te r C h ic o Deposits by Region  Excludes bank owned operational deposits, public funds, and Direct Banking division.  CD Balances included in Regional pools. $1.192 billion, total $2.244 billion, total $1.318 billion, total $1.680 billion, total $0.993 billion, total S a cr am en to V a lle y C e nt ra l V a lle y B a y A re a

Investor Presentation | Second Quarter 2024 16 # 35,176 # 200,016 476 448 433 429 1,464 1,523 756 403 263 361 Consumer Business Prior Quarter, Total Deposits: Demand & Savings Deposit Mix [1] Excludes time deposits, bank owned operational deposits and public funds. Balance Tier, $ millions [1]Total Demand & Savings ($ millions exterior, count interior) Business $3,250 Consumer $3,306

Investor Presentation | Second Quarter 2024 17 $214 $203 $198 $284 $426 $530 $630 $904 $979 0.22% 0.19% 0.47% 1.68% 2.76% 3.22% 3.63% 4.15% 4.31% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% $0.00 $200.00 $400.00 $600.00 $800.00 $1,000.00 Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Current Balance Weighted Average Rate CD Growth Deposits: CD Balance and Maturity Composition Note: Excludes CDARS * CD special as of June 30, 2024, subject to change $603 $228 $125 $23 4.55% 4.20% 3.90% 1.13% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% $0 $100 $200 $300 $400 $500 $600 <3 Months 3-6 Months 6-12 Months >12 Months Current Balance Wtd Avg Rate CDs by Remaining Maturity

Investor Presentation | Second Quarter 2024 18 $2,773 $1,285 $164 Liquidity Sources [1] Total Borrow Capacity Unpledged Securities AFS Cash Liquidity [1] $ millions, as of 6/30/2024, cash based upon total held at or in transit with FRB [2] Based upon estimated uninsured deposits reported in Call Report schedule RC-O includes demand and time deposits [3] Peer group consists of closest 99 peers in terms of assets, sourced from BankRegData.com $4.2 Billion 170% of estimated uninsured deposits In addition to a strong deposit base, Tri Counties Bank maintains a variety of easily accessible funding sources. 21.9 19.0 17.6 18.6 19.8 21.8 22.8 25.3 25.3 25.3 30.7 33.6 37.9 37.2 35.7 34.9 37.1 36.3 35.7 39.6 50.4 56.3 55.7 55.8 54.9 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 Pledged Securities as % of Total Securities [3] TCBK Peers 72.5 71.2 70.3 66.3 66.3 66.5 67.6 71.2 68.9 70.1 69.9 69.5 69.2 63.6 63.7 62.8 62.1 62.7 62.7 63.7 68.3 68.4 68.5 68.0 68.8 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 Insured Deposits as % of Total Deposits [2][3] TCBK Peers

Investor Presentation | Second Quarter 2024 Loans and Credit Quality 1919

Investor Presentation | Second Quarter 2024 20 Loan Portfolio and Yield  End of period balances are presented net of fees and include LHFS. Yields based on average balance and annualized quarterly interest income.  Acquired VRB Loans of $795MM upon 3/25/2022 with a WAR of 4.31%. $4,022 $4,111 $4,381 $4,386 $4,407 $4,443 $4,610 $4,711 $4,739 $4,859 $5,796 $6,097 $6,313 $6,452 $6,422 $6,521 $6,709 $6,795 $6,802 $6,743 5.24% 5.44% 5.23% 5.05% 4.78% 5.09% 5.15% 4.86% 4.92% 4.96% 4.69% 4.73% 4.88% 5.10% 5.21% 5.38% 5.52% 5.64% 5.72% 5.82% 3.50% 4.50% 5.50% 6.50% $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 2018 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1-2022 Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Non-PPP PPP Loans Loan Yield Loan Yield Excl PPP

Investor Presentation | Second Quarter 2024 21 $464 $285 $303 $412 $396 $473 $446 $250 $159 $170 $247 $193 $114 $121 -$241 -$192 -$243 -$250 -$225 -$205 -$270 -$110 -$92 -$107 -$83 -$110 -$83 -$137 -$59 $6 -$33 -$47 $4 $33 $42 -$4 -$94 $36 $22 -$24 -$41 Q1-2021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Origination Payoffs Balance Change net of Originations and Payoffs Gross Production vs. Payoff  Outstanding Principal in Millions, excludes PPP  Includes Q1 2021 increase of $98MM and Q4 2020 increase of $40MM in Jumbo Mortgage pool purchases  $800MM in outstanding at close of Q1-2022 related to VRB Acquisitions ($795MM at acquisition) excluded from the chart TCBK originated nearly $1.5 billion in 2021, while facing headwinds of an increased $372 million in payoffs during 2021. Originations and net loan growth in 2022 were supportive of the positive mix shift in earning assets and facilitated both NII and NIM expansion. Slower pace of originations commensurate with market rate changes, liquidity management, and NIM preservation.

Investor Presentation | Second Quarter 2024 22 CRE Non-Owner Occupied 34% CRE-Owner Occupied 14% Multifamily 15% SFR 1-4 Term 13% Commercial & Industrial 8% SFR HELOC and Junior Liens 5% Construction 4% Agriculture & Farmland 6% Auto & Other 1% $2,242 $2,143 $952 $972 $1,001 $952 $885 $830 $549 $568 $346 $363 $283 $278 $406 $339 $69 $58 1Q-2024 1Q-2023 1Q-2024 1Q-2023 1Q-2024 1Q-2023 1Q-2024 1Q-2023 1Q-2024 1Q-2023 1Q-2024 1Q-2023 1Q-2024 1Q-2023 1Q-2024 1Q-2023 1Q-2024 1Q-2023 C R E N o n - O w n e r O cc u p ie d C R E -O w n e r O cc u p ie d M u lti fa m ily S F R 1 -4 T e rm C o m m e rc ia l & I nd u st ri a l S F R H E L O C a n d Ju n io r L ie n s C o n st ru ct io n A g ric u ltu re & F a rm la n d A u to & O th e r Diversified Loan Portfolio  Dollars in millions, Net Book Value at period end, excludes LHFS;  Auto & other includes Leases; Commercial & Industrial includes Municipality Loans.

Investor Presentation | Second Quarter 2024 23 Office RE Collateral Graph circle size represent total loan Commitments in the Region; regional assignment based upon ZIP code of collateral California Office Secured by Region Regions by Collateral Code Regions by Occupancy Type TCBK Regions Loan Count Commitments Net Book Balance Per Loan Avg Book Balance Wtd Avg LTV Loan Count Commitments Net Book Balance Per Loan Avg Book Balance Wtd Avg LTV Central Valley 305 $335,966,175 $311,358,574 $1,020,848 60.6% 6 $65,673,263 $60,905,779 $10,150,963 59.4% Bay Area 123 $177,191,296 $165,241,622 $1,343,428 51.5% 6 $62,305,411 $62,036,127 $10,339,355 50.8% Sacramento Valley 175 $166,530,161 $155,236,877 $887,068 60.0% 12 $55,006,415 $51,044,572 $4,253,714 62.6% Chico 126 $79,879,103 $74,920,437 $594,607 63.2% 9 $27,732,135 $24,413,925 $2,712,658 58.4% Subtotal 729 $759,566,735 $706,757,510 $969,489 58.6% 33 $210,717,223 $198,400,404 $6,012,133 57.0% Southern 33 $52,975,093 $48,635,819 $1,473,813 59.7% Northern 51 $20,731,484 $18,280,683 $358,445 63.8% Outside CA 17 $21,965,110 $21,888,590 $1,287,564 54.6% Total Off ice RE 830 $855,238,423 $795,562,602 $958,509 58.7% Top 5 Customers w ithin Largest RegionsOffice RE Collateral

Investor Presentation | Second Quarter 2024 24 69% 54% 79% 64% 81% 75% 42% 50% 29% 43% 21% 36% 19% 22% 57% 43% 2% 3% 0% 0% 0% 3% 1% 7% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Retail Building Office Building Hotel/Motel Light Industrial Mixed Use - Retail Other Multifamily CRE Owner Occupied <= 60% > 60% - 75% > 75% CRE Collateral Values Distribution by LTV (1) LTV Range (1) LTV as of most recent origination or renewal date. CRE Non-Owner Occupied by Collateral Type

Investor Presentation | Second Quarter 2024 25 $2,261 $2,164 $1,005 $956 $344 $361 $543 $572 $959 $980 $887 $832 $287 $283 $410 $343 $65 $56 $148 $173 $69 $57 $669 $656 $696 $653 $67 $63 $307 $372 $177 $276 $8 $8 2Q-2024 2Q-2023 2Q-2024 2Q-2023 2Q-2024 2Q-2023 2Q-2024 2Q-2023 2Q-2024 2Q-2023 2Q-2024 2Q-2023 2Q-2024 2Q-2023 2Q-2024 2Q-2023 2Q-2024 2Q-2023 CRE Non-Owner Occupied Multifamily SFR HELOC and Junior Liens Commercial & Industrial CRE-Owner Occupied SFR 1-4 Term Construction Agriculture & Farmland Auto & Other Outstanding Principal ($MM) Unfunded Commitment ($MM) Unfunded Loan Commitments HELOCs – by vintage, with weighted avg. coupon (9.21% total WAC)  Outstanding Principal and Commitments exclude unearned fees and discounts/premiums, Leases, DDA Overdraft, and Credit Cards 8.00% 8.20% 8.40% 8.60% 8.80% 9.00% 9.20% 9.40% 9.60% 9.80% 10.00% $0 $25 $50 $75 $100 $125 $150 $175 $200 $225 20242023202220212020201920182017201620152014201320122011<2011 Private Balance (MM) Unfunded (MM) WA Rate 9.54% 9.66% 9.11% 8.90% 9.04%9.10% 9.31%9.37%9.40%9.33%9.33% 8.67% 8.78% 9.73% 8.82%

Investor Presentation | Second Quarter 2024 26 C&I Utilization Outstanding Principal excludes unearned fees and discounts/premiums ($ millions)  Utilization has remained stable throughout the rising rate environment  C&I yields are generally tied to changes in the Prime Rate.  Paired with treasury management services, C&I customers will be a continued source of noninterest bearing deposits. C&I Utilization by NAICS Industry: 2Q-2024 $206 $186 $191 $448 $476 $509 $544 $527 $550 $574 $560 $523 $521 $360 $353 $339 $552 $547 $603 $593 $628 $653 $647 $670 $663 $686 36% 35% 36% 45% 47% 46% 48% 46% 46% 47% 46% 44% 43% 4.84% 4.97% 4.96% 4.46% 5.12% 6.11% 6.79% 7.31% 7.60% 7.89% 7.88% 8.00% 7.99% 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 2Q-2021 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 3Q-2023 4Q-2023 1Q-2024 2Q-2024 Outstanding Principal ($MM) Unfunded Commitment Utilization WAR $193 $38 $77 $58 $45 $16 $18 $16 $61 $191 $101 $25 $53 $50 $51 $18 $18 $179 50% 27% 52% 75% 47% 24% 50% 45% 25% 0% 5000% 10000% 15000% 20000% Oil & Gas Extraction Construction Finance and Insurance Real Estate Wholesale Healthcare Trans and Warehouse Retail Trade Other (14 Categories) Outstanding (mln) Unfunded (mln)

Investor Presentation | Second Quarter 2024 27 $921 $470 $437 $619 $660 $657 $400 9.06% 6.02% 4.46% 4.29% 5.07% 5.43% 5.21% 9.12% 7.56% 7.39% 7.24% 7.20% 7.28% 7.23% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% - 100 200 300 400 500 600 700 800 900 1,000 Monthly (Floating) < 1 Year 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years > 5 Years Adjustable Loans, Principal Outstanding ($MM) Adj Wtd Avg Rate Adj Wtd Avg Rate if Repriced 06/30/2024 Loan Yield Composition  Dollars in millions, excludes PPP as well as unearned fees and accretion/amortization therein.  Wtd Avg Rate (weighted average rate) as of 06/30/2024 and based upon outstanding principal; Next Reprice signifies either the next scheduled reprice date or maturity. 99% of Floating benchmarked to Prime Predominantly benchmarked to 5 Year Treasury 62% Adjustable + Floating Fixed 38% Adjustable 48% Floating 14%

Investor Presentation | Second Quarter 2024 28 Adjustable Rate Loans  Dollars in millions, principal outstanding, excludes unearned fees; Draws are net of Paydowns in YoY view, Paydowns are net of Draws on existing loans in second quarter  WAR (weighted average rate) based upon outstanding principal, excludes unearned fees 4.80% WAR Scaled to $3,000MM 4.61% 5.00% 5.07% 4.40% 4.50% 4.60% 4.70% 4.80% 4.90% 5.00% 5.10% 5.20% $2,500 $2,600 $2,700 $2,800 $2,900 $3,000 $3,100 $3,200 $3,300 $3,400 Adj Rate Loans WAR Scaled to $2,500MM 4.61% WAR Year-over-year change Quarter-over-quarter change 5.07% WAR 5.07% WAR 5.00% WAR 7.22% 5.68% 7.01% 5.74%

Investor Presentation | Second Quarter 2024 29 Fixed Rate Loans  Dollars in millions, principal outstanding, excludes unearned fees; Paydowns are net of draws on existing loans within period  WAR (weighted average rate) based upon outstanding principal, excludes unearned fees Year-over-year change Quarter-over-quarter change Scaled to $2,400MM Scaled to $2,400MM 4.51% WAR 4.80% WAR 4.80% WAR 4.72% WAR 4.51% 4.72% 4.80% 4.40% 4.50% 4.60% 4.70% 4.80% 4.90% $2,400 $2,500 $2,600 $2,700 $2,800 Fixed Rate Loans WAR 7.81% 5.39% 7.68% 5.28% Includes principal amortization as well as transfers of loans out of construction

Investor Presentation | Second Quarter 2024 30 Allowance for Credit Losses Drivers of Change under CECL  Loan portfolio declined $58 million in Q2  Growth in CRE and Multifamily, offset by declines in Construction  Primarily driven by Qualitative factors for unemployment and general economic trends  Gross charge-offs $1.610 million  Gross recoveries $0.398 million 1.83% of Total Loans 1.83% of Total Loans Driven by specific reserve decrease $0.465 million, predominantly Ag and Farmland  Excludes gross charge-offs Scaled to reflect $110MM

Investor Presentation | Second Quarter 2024 31 Allowance for Credit Losses Allocation of Allowance by Segment

Investor Presentation | Second Quarter 2024 32 Risk Grade Migration Zero balance in Doubtful and Loss 83.6%83.5%85.0%86.0%87.8%87.8% 13.3%13.8%12.1%11.4%8.8%9.2% 1.5%1.6%1.5%1.4%2.4%2.0% 1.6%1.1%1.3%1.2%1.0%1.0% 0% 20% 40% 60% 80% 100% 2Q-20241Q-20244Q-20233Q-20232Q-20231Q-2023 Pass Watch Special Mention Substandard

Investor Presentation | Second Quarter 2024 33 263% 293% 281% 682% 821% 581% 496% 676% 312% 389% 381% 363% 377% 17 9% 18 1% 19 1% 17 8% 19 9% 21 1% 14 9% 20 4% 22 4% 19 1% 18 9% 17 4% 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 TCBK Peers  Peer group consists of 99 closest peers in terms of asset size, range $6.2-13.4 Billion, source: BankRegData.com  NPAs as presented are net of guarantees, NPLs as presented are not adjusted for guarantees. Asset Quality  The Bank continues to actively and aggressively address potential credit issues with short resolution timelines.  Over the past three years, both the Bank’s total non-performing assets and coverage ratio have remained better than peers. Non-Performing Assets as a % of Total Assets Coverage Ratio: Allowance as % of Non-Performing Loans 0.42% 0.37% 0.38% 0.17% 0.15% 0.21% 0.25% 0.20% 0.40% 0.32% 0.35% 0.37% 0.35% 0.64% 0.60% 0.50% 0.46% 0.34% 0.34% 0.32% 0.37% 0.39% 0.48% 0.53% 0.53% 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 TCBK Peers

Investor Presentation | Second Quarter 2024 Financials 3434

Investor Presentation | Second Quarter 2024 35 Net Interest Income (NII) and Margin (NIM)

Investor Presentation | Second Quarter 2024 36 Net Interest Income (NII) and Margin (NIM)

Investor Presentation | Second Quarter 2024 37 1.24% 1.43% 0.91% 1.43% 1.28% 1.19% 1.16% 2018 2019 2020 2021 2022 2023 2024 1.73% 1.94% 1.83% 1.91% 1.97% 1.87% 1.67% 2018 2019 2020 2021 2022 2023 2024 63.7% 59.7% 58.4% 53.2% 53.0% 55.8% 58.5% 2018 2019 2020 2021 2022 2023 2024 4.30% 4.47% 3.96% 3.58% 3.88% 3.96% 3.68% 2018 2019 2020 2021 2022 2023 2024 Current Operating Metrics Net Interest Margin (FTE) PPNR as % of Average Assets Efficiency Ratio ROAA 2024 values through the 3 months ended 3/31/2024, annualized where applicable

Investor Presentation | Second Quarter 2024 38 9.5% 10.6% 9.3% 9.2% 7.6% 8.8% 9.1% 2018 2019 2020 2021 2022 2023 2024 14.4% 15.1% 15.2% 15.4% 14.2% 14.7% 15.2% 2018 2019 2020 2021 2022 2023 2024 12.5% 13.3% 12.9% 13.2% 11.7% 12.2% 12.7% 2018 2019 2020 2021 2022 2023 2024 13.7% 14.4% 14.0% 14.2% 12.4% 12.9% 13.4% 2018 2019 2020 2021 2022 2023 2024 Well Capitalized Tier 1 Capital Ratio Total Risk Based Capital CET1 Ratio Tangible Capital Ratio 2024 values at quarter ended 3/31/2024

Investor Presentation | Second Quarter 2024 39 Our Mission Tri Counties Bank exists for just one purpose: to improve the financial success and well-being of our shareholders, customers, communities and employees. Core Values Trust Respect Integrity Communication Opportunity Team Ethos We are one team, aligned, customer-focused and collaborative to achieve next-level performance.

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Cover	Jul. 25, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jul. 25, 2024
Entity Registrant Name	TriCo Bancshares
Entity Incorporation, State or Country Code	CA
Entity File Number	0-10661
Entity Tax Identification Number	94-2792841
Entity Address, Address Line One	63 Constitution Drive
Entity Address, City or Town	Chico,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95973
City Area Code	530
Local Phone Number	898-0300
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	TCBK
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000356171