Operating cash flow remains aligned with profitability, evidenced by the 2026Q1 cash flow of $33.7 million matching net income, supporting a disciplined capital return strategy that included $22.4 million in share repurchases.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash from Operations | 142.48M | 133.29M | 109.71M | 138.89M | 162.9M | 132.21M | 114.8M | 102.81M | 91.07M | 55.38M | 48.23M | 54.82M | 27.42M | 41.09M | 52.06M | 31.66M | 51.19M | 25.94M | 36.79M | 32.14M | 32.87M | 29.92M | 29.46M | 25.8M | 22.31M | 14.3M | 18.84M | 15.6M | 15.3M | 2M | -11.8M |
| Operating CF Growth % | 129.31% | 21.5% | -21.01% | -14.74% | 23.21% | 15.16% | 11.67% | 12.89% | 64.44% | 14.84% | -12.02% | 99.94% | -33.27% | -21.08% | 64.42% | -38.14% | 97.3% | -29.48% | 14.47% | -2.22% | 9.86% | 1.55% | 14.21% | 15.65% | 55.94% | -24.07% | 20.76% | 1.96% | 665% | 116.95% | -218% |
| Net Income | 128.88M | 121.56M | 114.87M | 117.39M | 125.42M | 117.66M | 64.81M | 92.07M | 68.32M | 40.55M | 44.81M | 43.82M | 26.11M | 27.4M | 18.99M | 18.59M | 6M | 9.96M | 16.8M | 25.69M | 26.83M | 23.67M | 20.18M | 16.89M | 14.07M | 12.42M | 12.62M | 11.4M | 8.8M | 5.9M | 7.3M |
| Depreciation & Amortization | 14.53M | 14.39M | 16.07M | 18.85M | 18.38M | 17.28M | 17.57M | 17.23M | 10.51M | 8.18M | 7.85M | 7.06M | 6.18M | 4.83M | 4.5M | 3.49M | 3.8M | 3.75M | 3.96M | 4.86M | 6M | 7.1M | 7.34M | 9.14M | 6.07M | 3.62M | 3.89M | 4.5M | 4.2M | 4M | 2M |
| Deferred Taxes | 0 | 2.54M | -646K | -2.4M | -8.02M | -936K | -14.15M | 1.69M | 2.6M | 12.47M | 3.04M | 749K | -1.22M | 2.17M | -427K | -1.99M | -5.26M | -3.54M | -5.7M | -506K | -1.68M | -2.22M | -1.13M | 0 | -1.25M | -660K | -650K | -400K | -2.1M | -600K | -900K |
| Other Non-Cash Items | 20.93M | 1.98M | -1.93M | 17.2M | 15.62M | -7.09M | 37.1M | -9.61M | 2.62M | -2.58M | -3.6M | -587K | -7.6M | 5.56M | 17.4M | 10.34M | 37.52M | 29.47M | 21.58M | 2.71M | -792K | -67K | 2.87M | -96K | 4.09M | -730K | 2.78M | 100K | 4.7M | -7.2M | -20M |
| Working Capital Changes | -21.53M | -11.93M | -23.32M | -16.28M | 7.63M | 2.66M | 7.43M | -228K | 5.56M | -4.83M | -5.34M | 2.4M | 2.81M | -27K | 10.52M | 409K | 9.12M | -13.7M | 148K | -620K | 2.51M | 1.44M | 197K | -130K | -683K | -344K | 193K | 0 | -300K | -100K | -200K |
| Cash from Investing | -111.42M | -82.63M | 285M | 28.57M | -723.22M | -883.81M | -816.33M | -29.79M | -142M | -357.44M | -139.39M | -604.31M | -178.72M | -302.9M | 29.25M | 153.36M | 60.45M | 118.25M | -81.7M | -76.64M | -68.01M | -199.36M | -176.97M | -179.48M | -144.43M | -14.31M | -47.74M | -19.6M | -95.4M | -113.9M | -25.8M |
| Purchase of Investments | -223.74M | -147.38M | -187.76M | -34.47M | -699.03M | -1.19B | -617.55M | -37.25M | -436.68M | -265.81M | -247.72M | -487.4M | -280.69M | -244.97M | -13.81M | -25.46M | -156.35M | -29.4M | -80.48M | -79.27M | -896K | -40.01M | -61.09M | -169.16M | -241.79M | -93.13M | -27.57M | -41.4M | -199.3M | -173.3M | -19.2M |
| Sale/Maturity of Investments | 372.35M | 401M | 454.34M | 420.02M | 306.23M | 455.56M | 257.6M | 293.4M | 435.23M | 176.07M | 193.35M | 127.34M | 72.32M | 57.86M | 76.76M | 84.47M | 93.26M | 85.83M | 50.41M | 49.26M | 62.82M | 58.76M | 79.44M | 227.34M | 131.59M | 99.74M | 39.66M | 78.6M | 187.8M | 78.7M | 43.6M |
| Net Investment Activity | 148.61M | 253.62M | 266.58M | 385.55M | -392.81M | -735.13M | -359.95M | 256.15M | -1.45M | -89.74M | -54.37M | -360.06M | -208.37M | -187.11M | 62.95M | 59.01M | -63.08M | 56.44M | -30.07M | -30.01M | 61.93M | 18.74M | 18.35M | 58.18M | -110.2M | 6.61M | 12.1M | 37.2M | -11.5M | -94.6M | 24.4M |
| Acquisitions | 0 | 0 | 0 | 0 | 426.88M | 0 | 0 | 0 | 30.61M | 0 | 156.32M | 0 | 141.41M | 0 | 0 | 80.71M | 18.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -228.19M | -330.89M | 22.98M | -352.1M | -753.68M | -145.49M | -453.57M | -281.65M | -163.8M | -252.54M | -230.41M | -238.76M | -107.09M | -107.48M | -22.91M | 17.45M | 107.93M | 64.48M | -50.57M | -44.89M | -126.16M | -213.33M | -192.12M | -234.91M | -31.11M | -18.97M | -56.84M | -54.7M | -82.7M | -13M | -47.7M |
| Cash from Financing | -38.01M | -38.6M | -348.45M | -175.98M | -100.86M | 850.47M | 1.09B | -24.04M | 73.04M | 201.88M | 93.32M | 242.23M | 163.67M | 111.28M | 30.32M | 81.18M | -87.16M | 116.05M | 42.47M | 30.29M | 45.22M | 192.34M | 136.62M | 159.34M | 119.43M | 19.78M | 26.66M | 14M | 67.1M | 123.2M | 24.6M |
| Dividends Paid | -45.7M | -45.03M | -43.65M | -39.9M | -35.8M | -29.72M | -26.3M | -25M | -18.77M | -15.13M | -13.7M | -11.85M | -7.81M | -6.75M | -5.76M | -5.74M | -6.34M | -8.21M | -8.19M | -8.27M | -7.59M | -7.07M | -6.73M | -6.14M | -5.62M | -5.64M | -5.68M | -5M | -3.4M | -3M | -2.6M |
| Share Repurchases | -50.36M | -32.05M | -15.54M | -9.24M | -27.15M | -4.34M | -26.72M | -2.2M | -2.48M | -1.63M | -1.89M | -412K | -292K | -501K | 0 | -753K | -338K | 0 | -2.82M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | -50.36M | -32.05M | -15.54M | -9.24M | -27.15M | -4.34M | -26.72M | -2.2M | -2.48M | -1.63M | -1.89M | -412K | -292K | -501K | 0 | -753K | -338K | 0 | -2.82M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | -3.26M | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | 1000K | -1000K | 1000K | 1000K | 1000K | -32K | -1000K | -1000K | -1000K | 1000K | -1000K | 1000K |
| Other Financing | 198.26M | 176.32M | 253.71M | -494.82M | -252.44M | 861.37M | 1.14B | 537K | 365.62M | 113.97M | 103.74M | 251.44M | 168.82M | 121.39M | 99.42M | 99.2M | -70.75M | 159.51M | 67.6M | -52.2M | 102.56M | 147.96M | 112.01M | 105.54M | 124.84M | 42.56M | 43.72M | 25M | 45.1M | 128.4M | 23.4M |
| Net Change in Cash | -6.95M | 12.06M | 46.26M | -8.53M | -661.19M | 98.87M | 393.04M | 48.97M | 22.11M | -100.18M | 2.15M | -307.27M | 12.36M | -150.53M | 111.62M | 266.21M | 24.48M | 260.23M | -2.44M | -14.22M | 10.07M | 22.9M | -10.89M | 5.66M | -2.69M | 19.77M | -2.25M | 9.9M | -13M | 11.3M | -65.3M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -100K | 0 | 0 | 0 |
| Cash at Beginning | 157.01M | 144.96M | 98.7M | 107.23M | 768.42M | 669.55M | 276.51M | 227.53M | 205.43M | 305.61M | 303.46M | 610.73M | 598.37M | 748.9M | 637.27M | 371.07M | 346.59M | 86.36M | 88.8M | 103.01M | 92.94M | 70.04M | 80.93M | 75.27M | 77.96M | 58.19M | 60.44M | 50.5M | 63.5M | 52.2M | 65.3M |
| Cash at End | 301.31M | 157.01M | 144.96M | 98.7M | 107.23M | 768.42M | 669.55M | 276.51M | 227.53M | 205.43M | 305.61M | 303.46M | 610.73M | 598.37M | 748.9M | 637.27M | 371.07M | 346.59M | 86.36M | 88.8M | 103.01M | 92.94M | 70.04M | 80.93M | 75.27M | 77.96M | 58.19M | 60.4M | 50.5M | 63.5M | 89.9M |
| Interest Paid | 116.72M | 122.44M | 132.15M | 74.4M | 9.29M | 5.94M | 10.5M | 14.96M | 11.8M | 5.61M | 5.68M | 5.62M | 4.64M | 4.79M | 7.98M | 10.71M | 15.6M | 23.15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 30.17M | 27.67M | 33.7M | 45.3M | 41M | 46.3M | 29.5M | 35.05M | 14.53M | 21.17M | 27.57M | 24.32M | 22.68M | 17.39M | 10.99M | 16.63M | 2.83M | 10.29M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 134.47M | 127.93M | 105.15M | 134M | 159.27M | 129.01M | 111.99M | 98.51M | 83.63M | 40.22M | 37.3M | 49.33M | 22.75M | 32.77M | 41.27M | 28.31M | 48.03M | 23.31M | 35.73M | 30.4M | 29.09M | 25.15M | 26.25M | 23.05M | 19.18M | 12.35M | 15.84M | 13.5M | 14.1M | -4.3M | -14.3M |
| FCF Growth % | 29.39% | 21.67% | -21.53% | -15.87% | 23.46% | 15.2% | 13.68% | 17.79% | 107.96% | 7.83% | -24.39% | 116.81% | -30.58% | -20.59% | 45.76% | -41.05% | 106.05% | -34.76% | 17.54% | 4.49% | 15.66% | -4.2% | 13.89% | 20.16% | 55.31% | -22.01% | 17.33% | -4.26% | 427.91% | 69.93% | -264.37% |
California agricultural credit concentration
According to recent financial disclosures, TriCo Bancshares consistently generated positive operating cash flow, with the 2026Q1 figure of $33.7 million matching net income exactly, suggesting that the bank's internal capital generation remains sufficient to support its current dividend payout and modest share repurchase activity.
The alignment of operating cash flow with net income indicates a lack of significant non-cash distortions, reflecting a stable core earnings profile. This consistency provides management with the flexibility to maintain capital buffers while navigating the competitive California banking landscape.
As reported in quarterly filings, TriCo Bancshares has actively managed its investment securities portfolio, with 2025Q3 showing a notable $175 million in proceeds from sales, which appears to be a strategic effort to rebalance liquidity in response to shifting interest rate expectations and funding requirements.
The frequent turnover in the investment portfolio suggests that management is utilizing the securities book as a primary lever for liquidity management rather than a static yield-enhancement vehicle. Investors should monitor whether these sales are driven by a need to fund loan growth or to mitigate duration risk in a volatile rate environment.
Based on the provided cash flow data, TriCo Bancshares has maintained a consistent dividend payout of approximately $11 million per quarter, while share repurchases have fluctuated, peaking at $22.4 million in 2026Q1, indicating a disciplined approach to returning excess capital to shareholders.
The variability in share buybacks suggests that management prioritizes capital preservation during periods of economic uncertainty while utilizing repurchases to manage dilution when excess liquidity is available. This balanced approach appears to support long-term shareholder value without compromising the bank's regulatory capital position.
As indicated by the company's cash flow statements, the provision for loan losses has been inconsistent, ranging from zero in 2025Q4 to $4.7 million in 2025Q2, which suggests that management is adjusting its credit loss expectations in response to the evolving risk profile of the agricultural portfolio.
This volatility in provisioning warrants further investigation, as it may imply that the bank is reacting to localized economic stressors within the Central Valley. The lack of a steady-state provisioning trend suggests that credit quality remains a sensitive variable that could impact future cash flow availability.
Quick answers to the most common questions about buying TCBK stock.
TriCo Bancshares (TCBK) generated $133.3M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
TriCo Bancshares (TCBK) generated $127.9M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
TriCo Bancshares (TCBK) spent $5.4M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, TriCo Bancshares (TCBK) returned $45.0M to shareholders via cash dividends and spent $32.0M on share repurchases. This shows the company's commitment to returning capital to its equity investors.