TCBKTRICO BANCSHARES /
State Commercial Banks
- Revenue
- $53M
- 4.1% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $1.7B
- Employees
- 2,023
- $26K revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 2.2
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo0 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$3M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo110% of net incomeCash flow under 80% of net income
- Dilutive SBCNo9% of revenueOver 10% of revenue
- Payouts exceed cash flowNo58% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo3% of assetsOver 40% of assets
- Shareholder dissentNo95% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$26K · 28th pctBottom quartile of its SIC industry
- Quiet on AINo2.2 per 10K words · 58th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.7B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $44M | $50M | $50M | $51M | $53M | 4.1% |
| Net income | $118M | $125M | $117M | $115M | $122M | 5.8% |
| Operating cash flow | $132M | $163M | $139M | $110M | $133M | 21% |
| Capex | $3M | $4M | $5M | $5M | $5M | 18% |
| Stock-based comp | $3M | $4M | $4M | $5M | $5M | 2.0% |
| Buybacks | $4M | $27M | $9M | $16M | $32M | 106% |
| Dividends | $30M | $36M | $40M | $44M | $45M | 3.2% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Sep 16, 2026 | DEFM14A | First Hawaiian, Inc. | $35.31 | 14.6% |
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $3M | $4M | 155 | 132 |
| FY2024 | $3M | $3M | 123 | 109 |
| FY2023 | $3M | $2M | 117 | 81 |
| FY2022 | $3M | $7M | 135 | 84 |
| FY2021 | $3M | $4M | 111 | 110 |