Tri Counties Bank

In 1974, a group of farmers and small business owners within the Chico area came together to form their own bank and assist local growers. The company began operations with Robert H. Steveson as the first President and CEO.[5][6]

In 1975, the bank’s first branch was a mobile facility that opened at the current Chico Pillsbury branch site. The first branch had 11 employees and $1 million in capital to serve Butte, Glenn, and Tehama counties, hence the name, Tri Counties Bank. [3]

In 1981, TriCo Bancshares was Incorporated. TriCo Bancshares, a holding company with Tri Counties Bank as its sole subsidiary, was formed. Later that year, Tri Counties Bank merged with Shasta County Bank, bringing total assets to $96 million dollars; the company also doubled its number of employees.[7][8]

In 1994, the bank started opening in-store branches to bring financial services into supermarkets.[9]

In 1999, Richard P. Smith was named the President and CEO of the company, replacing Steveson who retired. Steveson passed away in 2011.[10][11]

In 2010, Richard P. Smith was named the chairman of the California Bankers Association for a period from 2010-2011. Smith has been an active member of the association for many years, and as chairman, Smith provided leadership to the association and members of its staff.[12]

In 2011, the company acquired Citizens Bank of Northern California after regulators ordered them to permanently close due to financial loss from non-performing loans. The company agreed to purchase all of the assets and deposits of the failed bank.[13]

The Tri Counties Bank campus building in Chico, California.

In 2013, the company opened a new campus at the Chico Airport complex, at a cost of $9 million dollars, which houses information technology, operations, a call center, and training departments.[14]

In 2014, the company acquired North Valley Bank. The two banks combined total assets reached $3.5 billion and over 1,000 employees. Three members of North Valley's board of directors were invited to join the Tri Counties Bank board, growing it from 9 to 12 seats. This acquisition also allowed the company to expand into Humboldt, Trinity, and Sonoma counties.[15][16]

In 2017, the company opened a new regional headquarters in Roseville. Property records show that the company paid $7.9 million for the building. The building is in the Douglas Boulevard financial corridor, where other banks and financial services are located. The company also opened a branch on the ground floor of the Renaissance Tower in downtown Sacramento.[17][18][19]

In 2018, the company acquired First National Bank of Northern California. With the acquisition of this bank, Tri Counties Bank entered the Bay Area market.[20]

In 2020, Sacramento Business Journal nominated Bindu Jaduram with Tri Counties Bank as one of the year's Women Who Mean Business honorees. Jaduram helped the company to expand their footprint by launching 12 new branches.[21]

In 2021, the company announced they will acquire Valley Republic Bank. The combined company will be the largest community bank in Bakersfield and Kern County by deposits.[22] There are now more than $9 billion in assets, $8 billion in deposits, and nearly $6 billion in loans.[4] Forbes magazine also ranked the company as #2 in California in their "America’s Best In-State-Banks" in 2021.[23][24][4]

The bank offers consumer banking products and services including mortgage loans, credit cards, online banking, and investments. It operates standalone branches as well as in-store branches, such as in supermarkets.[25][9]

The company’s headquarters opened in 1998 on Constitution Drive, in Chico, California.[26]

In 2013, the company opened a training and operations campus at the Chico Airport complex.[27] In 2017, the company purchased a building in Roseville, California for its new regional headquarters. Other Roseville facilities include a Small Business Administration loan office, and a separate commercial lending office.[28] In August 2021, the company entered Los Angeles County by opening a lending center in Pasadena, California. Other Southern California offices in Irvine and San Diego opened at the same time.[29]

Brokerage and investment management services are provided by Tri Counties Advisors in affiliation with Raymond James Financial Services, Inc.[30]

The company is active in philanthropy, having directly donated or helped raise over $450,000 for local causes including funds for a local medical center, aid for the victims of the 2018 Carr Fire, and funds for local black businesses.[31][32][33][34]

• Richard P. Smith March, 2001 – Present[35]
• Robert H. Steveson November, 1999 – March, 2001[6][11]

• Official website

• Business data for TriCo Bancshares:
  • Google Finance
  • Yahoo! Finance
  • Bloomberg
  • SEC filings