(RTTNews) – First Hawaiian, Inc. (FHB) said Monday it agreed to acquire TriCo Bancshares (TCBK) in an all-stock transaction valued at $63.12 per TriCo share, based on First Hawaiian’s closing stock price on July 10.
The transaction is expected to close by the end of 2026.
Under the agreement, TriCo shareholders will receive 2.095 First Hawaiian shares for each TriCo share.
Upon closing, First Hawaiian and TriCo shareholders are expected to own approximately 65% and 35%, respectively of the combined company.
The combined company will have approximately $34 billion in assets, making it the sixth-largest bank headquartered in the Western U.S.
The company provided preliminary second-quarter 2026 results, expecting net income of $73.4 million, or $0.60 earnings per share, compared with $67.8 million, or $0.55 earnings per share in the prior quarter.
In the pre-market trading, First Hawaiian is 5.11% lesser at $$28.59 on the Nasdaq.
