Junior Subordinated Debt

9 Months Ended

Sep. 30, 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 September 30, 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	%	7.63	%	$	20,619	$	20,619
TriCo Cap Trust II	7/23/2034	20,619		2.55	%	7.13	%	20,619		20,619
North Valley Trust II	—	—		—		—		—		5,713
North Valley Trust III	—	—		—		—		—		4,571
North Valley Trust IV	—	—		—		—		—		7,863
VRB Subordinated	—	—		—		—		—		16,799
VRB Subordinated - 5%	—	—		—		—		—		25,007
		$	41,238					$	41,238	$	101,191

The Company repaid the holders of the North Valley Trust II, III and IV, and VRB Subordinated and Subordinated - 5%, subordinated debt during the third quarter of 2025 with a face value of $57.7 million and a recorded book value of $60.2 million, resulting in a $2.5 million gain on extinguishment of debt during the period.