First Hawaiian and TriCo Bancshares Announce $2 Billion All-Stock Merger
First Hawaiian (FHB) and TriCo Bancshares (TCBK) agreed to an all-stock merger valued at approximately $2 billion, creating a combined regional bank with $34 billion in assets, 117 branches, and operations spanning Hawaii and California. First Hawaiian shareholders will own 65% of the merged entity, while TriCo shareholders receive 2.095 FHB shares per TCBK share. The deal, expected to close by late 2026, projects 6% EPS accretion and 25% cost savings with no branch closures.
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First Hawaiian to acquire California's TriCo Bancshares in $2 billion deal
First Hawaiian Bank, based in Honolulu, announced a roughly $2 billion acquisition of Tri Counties Bank (TriCo), headquartered in Chico, California. The all-stock deal, expected to close by year-end 2026, would create a combined institution with approximately $34 billion in assets and $29 billion in deposits. TriCo shareholders will receive 2.095 First Hawaiian shares per share, valued at $63.12. The acquisition more than doubles First Hawaiian's branch count, adding about 75 branches in California to its existing 53 in Hawaii. First Hawaiian will retain the TriCo brand and keep all branches open. The deal marks First Hawaiian's return to the mainland U.S. after BNP Paribas divested its stake in 2019. First Hawaiian projects 25% cost savings from the merger. Four TriCo directors, including CEO Rick Smith, will join First Hawaiian's board. The acquisition is positioned as a strategic move to expand client relationships and product offerings beyond Hawaii.
First Hawaiian strikes $2B deal to return to US mainland
First Hawaiian Bank announced a $2 billion all-stock deal to acquire TriCo Bancshares, the parent company of TriCounties Bank, based in Chico, California. The acquisition gives First Hawaiian its first physical presence on the U.S. mainland in a decade, since splitting from Bank of the West. The combined company will have $34 billion in assets and 113 branches across Hawaii and California. First Hawaiian will gain 68 branches in Northern and Central California and $8.4 billion in deposits. The deal is expected to close in the fourth quarter of 2026. TriCo CEO Rick Smith will join the combined company's board. Analysts reacted positively, calling it a logical and strategically compelling pairing. First Hawaiian projects 25% cost savings and plans to retain all TriCo branches.
TriCo Bancshares to Merge With First Hawaiian in $2B All-Stock Bank Deal
First Hawaiian and TriCo Bancshares announced a definitive all-stock merger agreement valued at approximately $2 billion, creating a combined bank with roughly $34 billion in assets. Under the terms, TriCo shareholders will receive 2.095 First Hawaiian shares per TriCo share, with First Hawaiian shareholders owning about 65% of the combined entity. The merger aims to expand First Hawaiian's presence in California while maintaining Tri Counties Bank's brand and avoiding branch closures. Executives highlighted shared values in relationship banking and disciplined credit culture. The deal is expected to deliver about 6% EPS accretion, a 2.8-year earnback, and 25% cost savings without relying on branch cuts. The transaction is subject to shareholder and regulatory approvals and is expected to close in the fourth quarter of 2026.
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TriCo Bancshares to Merge With First Hawaiian in $2B All-Stock Bank Deal
First Hawaiian and TriCo Bancshares announced a definitive all-stock merger agreement valued at approximately $2 billion, creating a combined bank with roughly $34 billion in assets, $22 billion in loans, $29 billion in deposits, and 117 branches. Under the terms, First Hawaiian shareholders will own about 65% of the combined company, while TriCo shareholders will own about 35%. TriCo shareholders will receive 2.095 shares of First Hawaiian common stock for each TriCo share. The deal is priced at 1.98 times tangible book value and 14.4 times 2027 earnings. Management expects 6% EPS accretion, a 2.8-year earnback, and 25% cost savings without relying on branch closures or revenue synergies. Tri Counties Bank will retain its brand in California, and no branch closures are anticipated. The transaction is subject to regulatory and shareholder approvals, with closing expected in the fourth quarter of 2026.
First Hawaiian pushes into California with TriCo Bancshares deal
First Hawaiian, Inc. (NASDAQ:FHB) has agreed to acquire TriCo Bancshares (NASDAQ:TCBK), a strategic move that the bank says will create the leading Pacific banking franchise and accelerate its expansion on the US mainland. The transaction pairs two deposit-focused banking platforms, extending First Hawaiian's reach beyond its core Hawaii market into TriCo's California footprint. First Hawaiian is the largest financial institution headquartered in Hawaii, with a franchise built on retail and commercial deposits. TriCo Bancshares is the parent of Tri Counties Bank, a community-focused lender operating across Northern and Central California. The deal is centered on combining low-cost deposit platforms, which underpin a bank's funding and lending capacity. Following the announcement, shares of First Hawaiian dropped 4.2% while TriCo Bancshares rose nearly 11%.
First Hawaiian pushes into California with TriCo Bancshares deal
First Hawaiian, Inc. (NASDAQ:FHB) has agreed to acquire TriCo Bancshares (NASDAQ:TCBK), a strategic move that the bank says will create the leading Pacific banking franchise and accelerate its expansion onto the US mainland. The transaction pairs two deposit-focused banking platforms, extending First Hawaiian's reach beyond its core Hawaii market into TriCo's California footprint. First Hawaiian is the largest financial institution headquartered in Hawaii, while TriCo Bancshares is the parent of Tri Counties Bank, a community-focused lender in Northern and Central California. The deal is centered on combining low-cost deposit platforms to strengthen funding and lending capacity. Following the announcement, First Hawaiian shares dropped 4.2% while TriCo Bancshares shares rose nearly 11%.
First Hawaiian to Merge With TriCo Bancshares in $2 Billion All-Stock Deal
First Hawaiian, the parent company of First Hawaiian Bank, has agreed to acquire TriCo Bancshares in an all-stock transaction valued at $2.01 billion. The deal, announced on Monday, will see TriCo stockholders receive just under 2.1 shares of First Hawaiian for each share of TriCo they own. Based on First Hawaiian's closing price last week, this equates to approximately $63.12 per TriCo share. The merger combines two regional banking institutions, with First Hawaiian based in Honolulu and TriCo Bancshares operating in California. The transaction is expected to create a larger regional banking entity with expanded geographic reach.
First Hawaiian to Merge With TriCo Bancshares in $2 Billion All-Stock Deal
First Hawaiian, the parent company of First Hawaiian Bank, has agreed to acquire TriCo Bancshares in an all-stock transaction valued at $2.01 billion. The deal, announced on Monday, will see TriCo stockholders receive just under 2.1 shares of First Hawaiian for each share of TriCo they own. Based on First Hawaiian's closing price last week, this equates to approximately $63.12 per TriCo share. The merger is a significant consolidation in the regional banking sector.
First Hawaiian to Buy TriCo Bancshares in $2 Billion Stock Deal, Building Pacific Bank Giant
First Hawaiian (NASDAQ:FHB) and TriCo Bancshares have agreed to a 100% stock merger valued at approximately $2 billion, creating what executives call 'the leading Pacific banking franchise.' Under the deal, TriCo shareholders will receive 2.095 shares of First Hawaiian common stock for each TriCo share, with First Hawaiian shareholders owning about 65% of the combined company. The merged entity will have roughly $34 billion in assets, $22 billion in loans, $29 billion in deposits, and 117 branches across Hawaii and California. Tri Counties Bank will retain its brand in California, and no branch closures are anticipated. The deal is expected to close in the fourth quarter of 2026, pending shareholder and regulatory approvals. Executives project 6% EPS accretion and 25% cost savings without relying on branch cuts or modeled revenue synergies.
First Hawaiian to Buy TriCo Bancshares in $2 Billion Stock Deal, Building Pacific Bank Giant
First Hawaiian (FHB) and TriCo Bancshares (TCBK) have agreed to a 100% stock merger valued at approximately $2 billion, creating a combined bank with $34 billion in assets, $22 billion in loans, $29 billion in deposits, and 117 branches. Under the deal, TriCo shareholders will receive 2.095 shares of First Hawaiian common stock per TriCo share, with First Hawaiian shareholders owning about 65% of the combined entity. The merger is expected to close in the fourth quarter of 2026, pending regulatory and shareholder approvals. Executives highlighted cultural alignment, no planned branch closures, and the retention of the Tri Counties Bank brand in California. The deal is projected to generate 6% EPS accretion and 25% cost savings without relying on branch cuts. First Hawaiian's CEO described the combination as creating 'the leading Pacific banking franchise,' while reaffirming the company's commitment to its Hawaii base.
First Hawaiian Shares Drop as TriCo Bancshares Agrees to All-Stock Merger
First Hawaiian (FHB) shares fell 4.8% while TriCo Bancshares (TCBK) gained 7% after the companies announced an all-stock merger agreement. Under the deal, TriCo shareholders will receive 2.095 First Hawaiian shares per TriCo share, valuing TriCo at approximately $63.12 per share. Existing First Hawaiian shareholders will own about 65% of the combined company, with TriCo investors holding 35%. The merger will create a regional banking group with approximately $34 billion in total assets, making it the sixth-largest bank headquartered in the Western United States. The Tri Counties Bank brand will continue operating across mainland markets with no expected branch closures. Four TriCo board members, including CEO Rick Smith, will join the boards of First Hawaiian and First Hawaiian Bank. The merger has unanimous board approval and is expected to close before end of 2026, pending regulatory and shareholder approvals. First Hawaiian also released preliminary Q2 results showing net income of $73.4 million, up from $67.8 million, with diluted EPS projected at $0.60. Full Q2 earnings are scheduled for July 24, 2026.
First Hawaiian Shares Drop as TriCo Bancshares Agrees to All-Stock Merger
First Hawaiian (FHB) shares fell 4.8% on Monday, while TriCo Bancshares (TCBK) gained 7% after the companies announced an all-stock merger agreement. Under the deal, TriCo shareholders will receive 2.095 First Hawaiian shares per TriCo share, valuing TriCo at about $63.12 per share. Existing First Hawaiian shareholders will own roughly 65% of the combined company, with TriCo investors holding 35%. The merger will create a regional banking group with approximately $34 billion in total assets, making it the sixth-largest bank headquartered in the Western United States. The Tri Counties Bank brand will continue operating across mainland markets, and no branch closures are expected. Four TriCo board members, including CEO Rick Smith, will join the boards of First Hawaiian and First Hawaiian Bank. The deal has unanimous board approval and is expected to close before end of 2026, pending regulatory and shareholder approvals. First Hawaiian also released preliminary Q2 results, projecting net income of $73.4 million and diluted EPS of $0.60, up from $0.55 in the prior quarter.