TriCo shareholders are set to receive 2.095 First Hawaiian shares per share, implying $63.12 based on July 10, 2026 closes; Ademi LLP said it is investigating the merger process over fiduciary-duty concerns.
The parent company of First Hawaiian Bank agreed to acquire TriCo Bancshares in an all-stock transaction valued at $2.01 billion. Under the announced terms, TriCo shareholders would receive 2.095 First Hawaiian shares for each TriCo share, implying about $63.12 per share based on First Hawaiian's July 10, 2026 closing price. After closing, First Hawaiian shareholders are expected to own about 65% of the combined company and TriCo shareholders about 35%. Separately, Ademi LLP said it is investigating the transaction for possible breaches of fiduciary duty and other legal violations, citing alleged insider change-of-control benefits and deal terms it said could limit competing bids.