MergerJul 13, 2026, 07:23 AM
TriCo Bancshares to Merge with First Hawaiian in All-Stock Deal
AI Summary
TriCo Bancshares announced it will merge with First Hawaiian, Inc. in an all-stock transaction, creating a leading Pacific banking franchise with approximately $34 billion in assets. TriCo shareholders will receive 2.095 First Hawaiian shares for each TriCo share, valued at $63.12. The combined entity will be the 6th largest bank headquartered in the Western U.S. by deposits, with the transaction expected to close by the end of 2026. Additionally, First Hawaiian provided preliminary Q2 2026 results, reporting net income of $73.4 million and diluted EPS of $0.60, alongside an expanded net interest margin and increased gross loans.
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 to have approximately $34 billion in assets and $29 billion in deposits.
- Transaction expected to close by the end of 2026, subject to regulatory and shareholder approvals.
- First Hawaiian's preliminary Q2 2026 net income was $73.4 million, with diluted EPS of $0.60.
- First Hawaiian's preliminary Q2 2026 net interest margin expanded 6 bps to 3.25%.
- First Hawaiian's preliminary Q2 2026 gross loans increased to $14.6 billion.
- Four TriCo directors, including Rick Smith, will join First Hawaiian's boards.
Price Impact
More from TCBK