First Hawaiian agrees to acquire TriCo Bancshares in share-exchange merger
On July 12, 2026, First Hawaiian, Inc. signed a merger agreement with TriCo Bancshares, under which TriCo will merge into a First Hawaiian subsidiary and then into First Hawaiian, followed by a bank merger of Tri Counties Bank into First Hawaiian Bank. TriCo shareholders will receive 2.095 First Hawaiian shares for each TriCo share, so the deal would dilute existing First Hawaiian shareholders and depends on shareholder, regulatory and registration approvals.
Key points
- Exchange ratio: each TriCo common share converts into 2.095 First Hawaiian common shares, with cash paid in lieu of fractional shares
- Termination fee of $80 million payable by either party in certain circumstances
- Four TriCo directors will join the First Hawaiian board at the effective time
- Closing requires stockholder and shareholder approvals, Federal Reserve, FDIC and state regulatory approvals, and effectiveness of a Form S-4 registration statement
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:49 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 15, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.