Roseville, CA – A fast-growing Chico-based bank has purchased a 40,000-square-foot building on Douglas Boulevard for a regional headquarters.
Tri Counties Bank, with $4.1 billion in assets, is the primary subsidiary of TriCo Bancshares (Nasdaq: TCBK). It has offices all over Northern California, including 11 in the Sacramento area.
The regional headquarters “will give us an identity in Sacramento and Roseville,” said CEO Rick Smith. “It’s in the right part of Roseville where all of the banks and financial services are.”
The bank has multiple offices in Roseville, where it had a Small Business Administration loan office, a separate commercial lending office and several free-standing and supermarket branches.
“We’re always described as ‘that bank from somewhere else,’” Smith said. “We’re trying to establish a presence in the market.”
The bank is now designing the interior of its new space at 3700 Douglas Boulevard, which was built in the late 1990s as part of the Slate Creek Corporate Center. The two-story building has been vacant for some time, Smith said. According to property records, Tri Counties paid $7.90 million for the building.
Smith said the bank would likely use all the space in the new building. That location also could help with recruiting executive talent who don’t want to live in or commute to Chico, he said.
Founded in 1975, Tri Counties Bank has grown through nine acquisitions since 1991. Most recently, it bought Redding-based North Valley Bank in a deal announced in 2014.
The company now operates 57 traditional bank branches and 16 in-store branches. It is in the midst of adding three more branches to its network, buying three full-service Bank of America branches in Eureka, Arcata and Fortuna.
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