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TriCo Bancshares (NASDAQ:TCBK), a $1.31 billion market cap state commercial bank based in Chico, California, announced a change in its independent registered public accounting firm. The bank, which has maintained dividend payments for 33 consecutive years and remains profitable with a P/E ratio of 11.63, announced a change in its independent registered public accounting firm. InvestingPro analysis suggests the stock is currently undervalued based on its Fair Value model. The change follows the merger of its previous auditor, Moss Adams LLP, with Baker Tilly US, LLP. Effective June 3, 2025, Baker Tilly will serve as TriCo Bancshares’ new independent auditor.
According to the company’s recent SEC filing, Moss Adams resigned as the company’s auditor due to the merger, and TriCo’s Board of Directors approved Baker Tilly as the successor. The audit reports from Moss Adams for the years ending December 31, 2024, and 2023 did not contain any adverse opinions or disclaimers. There were no disagreements or reportable events between TriCo and Moss Adams during this period. Three analysts currently cover the stock, with all having revised their earnings estimates upward for the upcoming period. For more detailed analyst insights and financial metrics, check out InvestingPro, which offers additional ProTips and comprehensive financial analysis.
The company confirmed that it had not consulted with Baker Tilly on any accounting or auditing matters prior to this appointment. TriCo Bancshares provided Moss Adams with a copy of the SEC filing before its submission and requested a confirmation letter from them. Moss Adams’ letter to the SEC, dated June 6, 2025, confirms their agreement with the statements made in the filing.
This information is based on a press release statement from TriCo Bancshares.
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