Tri Counties Bank
| Company type | Subsidiary |
|---|---|
| Industry | Financial services |
| Founded | 1975 |
| Headquarters | Chico, California , United States |
Area served | California |
Key people | Richard P. Smith (President and CEO) |
| Products | Checking and savings accounts, private and commercial banking, mortgage and consumer lending, credit cards, digital banking services, investment options |
| Parent | TriCo Bancshares |
Tri Counties Bank is a financial services provider based in Chico, California. It functions as a subsidiary under the ownership of TriCo Bancshares (NASDAQ: TCBK), which is also headquartered in Chico. Established in 1975 to serve the counties of Butte, Glenn, and Tehama—hence its name—the bank has expanded to operate more than 64 branches along with 8 loan production offices throughout California as of 2024. It oversees assets totaling around $9.7 billion and delivers a comprehensive suite of financial products, including checking and savings accounts, private and commercial banking, mortgage and consumer lending, credit cards, digital banking services, and investment options.
History
Founded in 1974 by a coalition of farmers and small business proprietors aiming to support local agricultural producers, Tri Counties Bank appointed Robert H. Steveson as its inaugural president and CEO. In 1981, the establishment of TriCo Bancshares as the bank’s holding company took place, with Tri Counties Bank remaining its only subsidiary. That same year, the bank merged with Shasta County Bank. To improve customer accessibility, it introduced supermarket-based branches starting in 1994. Following Steveson’s retirement in 1999, Richard P. Smith took over leadership as president and CEO.
During Smith’s tenure—who also served as chair of the California Bankers Association from 2010 to 2011—the bank pursued growth through acquisitions such as the purchase of Citizens Bank of Northern California in 2011 after regulatory closure due to troubled loans. In 2013, Tri Counties Bank invested $9 million to launch a new campus at Chico Airport dedicated to IT, operations, call center activities, and training.
Further expansion occurred in 2014 with the acquisition of North Valley Bank, which extended the bank’s footprint into Humboldt, Trinity, and Sonoma counties. This deal also enlarged the board from nine to twelve directors by adding three members from North Valley’s governance team. The bank entered the San Francisco Bay Area market in 2018 by acquiring First National Bank of Northern California.
In acknowledgment of her leadership in opening twelve new branches, Bindu Jaduram was honored as one of Sacramento Business Journal’s Women Who Mean Business in 2020. Forbes ranked Tri Counties Bank as the second-best in-state bank in California in 2021.
The acquisition of Valley Republic Bank in 2021 elevated combined assets beyond $10 billion and increased the bank’s market share across Northern California.
Operations
Tri Counties Bank offers a variety of consumer banking solutions such as mortgage lending, credit cards, online banking platforms, and investment services. Its branch network includes both standalone locations and branches situated inside supermarkets.
The bank’s main headquarters was established in 1998 on Constitution Drive in Chico. Infrastructure expansion continued with the opening of a training and operations campus at Chico Airport in 2013. In 2017, it acquired office space in Roseville to serve as a regional headquarters that also accommodates Small Business Administration loan services and commercial lending departments. Expanding its national presence, it entered Los Angeles County in August 2021 by launching lending centers across Pasadena, Irvine, and San Diego.
The institution actively engages with local communities through philanthropic efforts, having contributed or raised over $450,000 for initiatives including healthcare facilities, relief efforts for the 2018 Carr Fire, and support for black-owned businesses locally. This dedication strengthens its market position while reinforcing its commitment as a community-oriented financial organization.
Chief Executives
- Robert H. Steveson, November 1999 to 2001
- Richard P. Smith, March 2001 to present