First Hawaiian Inc., parent company of First Hawaiian Bank, has agreed to acquire California-based TriCo Bancshares, parent company of Tri Counties Bank. First Hawaiian Bank is Hawaii’s oldest and largest financial institution and this deal will increase First Hawaiian’s presence on the mainland. Tri Counties Bank is headquartered in Chico, California and provides services in communities throughout California.
Upon closing of the transaction, the combined company will have $34 billion in assets and be the sixth largest bank headquartered in the western United States. First Hawaiian is expected to own 65 percent of the combined company.
The S&C team representing First Hawaiian includes Mitch Eitel, Ben Fleming, Dylan Handelsman, Charlotte Lindsay, Katherine McCreery and Karina Poon. Sarah Remmer Long and Alex Capogna are advising on executive compensation and employment matters. Mehdi Ansari, Ryan Logan and Philippe Schiff are advising on intellectual property and privacy matters. Eric Wang and Aaron Milevsky are advising on tax matters. Joe Matelis and Phoebe Sam are advising on antitrust matters. Pat Brown and Ryan Nober are advising on California law matters.