KBRA Assigns Senior Unsecured Debt Rating of BBB to TriCo Bancshares

Kroll Bond Rating Agency (KBRA) has assigned a senior unsecured debt rating of BBB, subordinated debt rating of BBB-, and short-term debt rating of K3 to Chico, California based TriCo Bancshares (NASDAQ: TCBK) (“the Company”). KBRA has also assigned deposit and senior unsecured debt ratings of BBB+, a subordinated debt rating of BBB, and short-term deposit and debt ratings of K2 to the subsidiary bank, Tri Counties Bank. The Outlook on all long-term ratings is Stable.

The ratings for TriCo Bancshares are supported by the Company’s strong deposit base, solid capital ratios, and favorable earnings metrics. The ratings are also underpinned by the institution’s seasoned management team as well as the Bank’s resilience through various financial cycles. The ratings are constrained by relatively high operating costs, a real estate-centric lending portfolio, and exposure to various idiosyncratic market risks generally associated with rural-market economies.

The ratings are based on KBRA’s Global Bank & Bank Holding Company Rating Methodology published on February 19, 2016.

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About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).

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