Junior Subordinated Debt

3 Months Ended

Mar. 31, 2025

The following table summarizes the terms and recorded balances of each debenture as of the date indicated:


(in thousands)				Coupon Rate (Variable) 3 mo. SOFR +		As of March 31, 2025				As of December 31, 2024
Subordinated Debt Series	Maturity Date	Face Value				Current Coupon Rate		Recorded Book Value		Recorded Book Value
TriCo Cap Trust I	10/7/2033	$	20,619	3.05	%	7.61	%	$	20,619	$	20,619
TriCo Cap Trust II	7/23/2034	20,619		2.55	%	7.10	%	20,619		20,619
North Valley Trust II	4/24/2033	6,186		3.25	%	7.80	%	5,743		5,713
North Valley Trust III	7/23/2034	5,155		2.80	%	7.35	%	4,597		4,571
North Valley Trust IV	3/15/2036	10,310		1.33	%	5.89	%	7,932		7,863
VRB Subordinated	3/29/2029	16,000		3.52	%	9.11	%	16,747		16,799
VRB Subordinated - 5%	8/27/2035	20,000		Fixed		5.00	%	24,965		25,007
		$	98,889					$	101,222	$	101,191

The VRB - 5% Subordinated Debt issuance is fixed at 5.0% through August 27, 2025, then will have a floating rate of 90-day average SOFR plus 4.9% until maturity.