AcquisitionsJul 13, 2026, 07:02 AM

First Hawaiian to Acquire TriCo Bancshares in All-Stock Deal

AI Summary

First Hawaiian, Inc. announced a definitive agreement to acquire TriCo Bancshares in an all-stock transaction. TriCo shareholders will receive 2.095 First Hawaiian shares for each TriCo share, valuing the deal at $63.12 per share based on First Hawaiian's July 10, 2026 closing price. The combined entity will have approximately $34 billion in assets and aims to expand First Hawaiian's mainland presence. The company also released preliminary Q2 2026 financial highlights, showing continued earnings growth with net income of $73.4 million and diluted EPS of $0.60, alongside improved net interest margin and asset quality.

Key Highlights

First Hawaiian to acquire TriCo Bancshares in an all-stock transaction.
TriCo shareholders to receive 2.095 First Hawaiian shares per TriCo share, valued at $63.12.
Combined company will have approximately $34 billion in assets.
First Hawaiian shareholders to own ~65% and TriCo shareholders ~35% of the combined entity.
Preliminary Q2 2026 net income for First Hawaiian was $73.4 million, up from $67.8 million QoQ.
Preliminary Q2 2026 diluted EPS for First Hawaiian was $0.60, up from $0.55 QoQ.
Preliminary Q2 2026 net interest margin expanded by 6 bps QoQ to 3.25%.
Preliminary Q2 2026 gross loans increased to $14.6 billion from $14.4 billion QoQ.

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FHB

Major Banks

FIRST HAWAIIAN, INC.

Price Impact