N@N

TriCo Bancshares Announces Retirement of Chief Operations Officer

^{Published on 2008-12-19 14:07:01, Last Modified on 2008-12-19 14:07:34 - Market Wire}
 

CHICO, Calif.--([ BUSINESS WIRE ])--TriCo Bancshares (NASDAQ:TCBK), parent company of Tri Counties Bank, today announced the retirement of Rick Hagstrom, Chief Operations Officer effective at year end. Mr. Hagstrom, 62 joined TriCo Bancshares following the acquisition of Sutter Butte Savings in 1996, where he served as President.

During his tenure at TriCo Bancshares, Mr. Hagstrom was primarily responsible for the Company's residential real estate mortgage operation. Over the past few years, Mr. Hagstrom provided leadership over numerous banking operations within the bank and as part of the executive management team.

Richard P. Smith, President and Chief Executive Officer expressed that, "Rick Hagstrom has been highly respected and valuable member of our team since joining us from Sutter Butte Savings. I will miss his friendship, leadership, and professionalism. Rick is a good man and we wish him and his lovely wife Vicki only the best as they embark on the next phase of their lives."

The bank plans to re-allocate resources from within the bank to absorb Mr. Hagstrom's job duties, Smith added.

TriCo Bancshares and Tri Counties Bank are headquartered in Chico, California. Tri Counties Bank has a 33-year history in the banking industry. Tri Counties Bank operates 32 traditional branch locations and 25 in-store branch locations in 23 California counties, and as of June 30, 2008, had approximately $1.9 billion in assets. Tri Counties Bank offers financial services and provides a diversified line of products and services to consumers and businesses, which include demand, savings and time deposits, consumer finance, online banking, mortgage lending, and commercial banking throughout its market area. It operates a network of 64 ATMs and a 24-hour, seven days a week telephone customer service center. Brokerage services are provided at the Bank's offices by the Bank's association with Raymond James Financial, Inc. For further information please visit the Tri Counties Bank web-site at [ http://www.tricountiesbank.com ].