First Hawaiian Strikes $2 Billion TriCo Deal to Return to U.S. Mainland

First Hawaiian, Hawaii’s oldest financial institution, refocused its operations on its home market after separating from Bank of the West a decade ago. Its acquisition of TriCo Bancshares marks a return to the U.S. mainland after 10 years of building its local business. The strategic expansion will break through its geographic constraints, help diversify regional risk and open access to high-growth markets such as California, representing its most significant operational shift in recent years.

First Hawaiian announced on July 13, 2026, that it would acquire California-based TriCo Bancshares for $2 billion in an all-stock transaction. The deal is expected to close by the end of 2026. The combined institution will have $34 billion in total assets, making it the sixth-largest bank in the western United States and giving First Hawaiian its first physical branch network on the U.S. mainland.