TriCo Bancshares anticipates assuming approximately $245 million in deposits and purchasing approximately $400 thousand in loans. Subject to regulatory approvals, the transaction is scheduled to occur in the first quarter of 2016.
"We look forward to welcoming our new customers and employees to our expanding branch network along the North Coast communities of Northern California," stated Rick Smith, Trico Bancshares President and CEO. "This acquisition provides a great opportunity to expand our current branch network to better serve customers and further strengthens our abilities to offer competitive banking products and services throughout the North State."
Tri Counties Bank will hire the current employees at each of the branches being acquired and is committed to a smooth customer transition. Tri Counties Bank currently has sixty-eight branches throughout Northern and Central California, including five branches along the North Coast of California extending from Crescent City to Ferndale.
