10-Q

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

___________________

FORM 10-Q

___________________

☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

for the quarterly period ended: March 31, 2023

☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

for the transition period from                to              

Commission File Number: 000-10661

___________________

(Exact Name of Registrant as Specified in Its Charter)

___________________

CA	94-2792841
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification Number)

63 Constitution Drive

Chico, California 95973

(Address of Principal Executive Offices)(Zip Code)

(530) 898-0300

(Registrant’s Telephone Number, Including Area Code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	TCBK	The NASDAQ Stock Market

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “accelerated filer”, “large accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

☒	Large accelerated filer	☐	Accelerated filer
☐	Non-accelerated filer	☐	Smaller reporting company
☐	Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No

Indicate the number of shares outstanding for each of the issuer’s classes of common stock, as of the latest practical date:

Common stock, no par value: 33,206,788 shares outstanding as of May 5, 2023.

Table of Contents

TriCo Bancshares

FORM 10-Q

TABLE OF CONTENTS

	Page
PART I – FINANCIAL INFORMATION	3
Item 1 – Financial Statements (Unaudited)	3
Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations	37
Item 3 – Quantitative and Qualitative Disclosures about Market Risk	56
Item 4 – Controls and Procedures	56
PART II – OTHER INFORMATION	57
Item 1 – Legal Proceedings	57
Item 1A – Risk Factors	57
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds	58
Item 6 – Exhibits	59
Signatures	60

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GLOSSARY OF ACRONYMS AND TERMS

The following listing provides a comprehensive reference of common acronyms and terms used throughout the document:

ACL	Allowance for Credit Losses
AFS	Available-for-Sale
AOCI	Accumulated Other Comprehensive Income
ASC	Accounting Standards Codification
CARES	Coronavirus Aid, Relief and Economic Security Act
CDs	Certificates of Deposit
CDI	Core Deposit Intangible
CECL	Current Expected Credit Loss
COVID-19	Coronavirus Disease
CRE	Commercial Real Estate
DFPI	State Department of Financial Protection and Innovation
FASB	Financial Accounting Standards Board
FDIC	Federal Deposit Insurance Corporation
FHLB	Federal Home Loan Bank
FRB	Federal Reserve Board
FTE	Fully taxable equivalent
GAAP	Generally Accepted Accounting Principles (United States of America)
HELOC	Home equity line of credit
HTM	Held-to-Maturity
NPA	Nonperforming assets
OCI	Other Comprehensive Income
PCD	Purchase Credit Deteriorated
PPP	Paycheck Protection Program
ROUA	Right-of-Use Asset
RSU	Restricted Stock Unit
SBA	Small Business Administration
SERP	Supplemental Executive Retirement Plan
SFR	Single Family Residence
TDR	Troubled Debt Restructuring
VRB	Valley Republic Bancorp
XBRL	eXtensible Business Reporting Language

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PART I – FINANCIAL INFORMATION

Item 1.    Financial Statements (unaudited)

TRICO BANCSHARES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data; unaudited)

	March 31, 2023		December 31, 2022
Assets:
Cash and due from banks	$	77,933	$	96,323
Cash at Federal Reserve and other banks	32,402		10,907
Cash and cash equivalents	110,335		107,230
Investment securities:
Marketable equity securities	2,640		2,598
Available for sale debt securities, net of allowance for credit losses of $0	2,405,812		2,452,438
Held to maturity debt securities, net of allowance for credit losses of $0	152,067		160,983
Restricted equity securities	17,250		17,250
Loans held for sale	226		1,846
Loans	6,422,421		6,450,447
Allowance for credit losses	(108,407)		(105,680)
Total loans, net	6,314,014		6,344,767
Premises and equipment, net	72,096		72,327
Cash value of life insurance	134,544		133,742
Accrued interest receivable	31,388		31,856
Goodwill	304,442		304,442
Other intangible assets, net	15,014		16,670
Operating leases, right-of-use	30,000		26,862
Other assets	252,566		257,975
Total assets	$	9,842,394	$	9,930,986
Liabilities and Shareholders’ Equity:
Liabilities:
Deposits:
Noninterest-bearing demand	$	3,236,696	$	3,502,095
Interest-bearing	4,789,169		4,826,918
Total deposits	8,025,865		8,329,013
Accrued interest payable	1,643		1,167
Operating lease liability	32,228		29,004
Other liabilities	157,222		159,741
Other borrowings	434,140		264,605
Junior subordinated debt	101,051		101,040
Total liabilities	8,752,149		8,884,570
Commitments and contingencies (Note 9)
Shareholders’ equity:
Preferred stock, no par value: 1,000,000 shares authorized, zero issued and outstanding at March 31, 2023 and December 31, 2022	—		—
Common stock, no par value: 50,000,000 shares authorized; 33,195,250 and 33,331,513 issued and outstanding at March 31, 2023 and December 31, 2022, respectively	695,168		697,448
Retained earnings	564,538		542,873
Accumulated other comprehensive loss, net of tax	(169,461)		(193,905)
Total shareholders’ equity	1,090,245		1,046,416
Total liabilities and shareholders’ equity	$	9,842,394	$	9,930,986

See accompanying notes to unaudited condensed consolidated financial statements.

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TRICO BANCSHARES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data; unaudited)

	Three months ended March 31,
	2023		2022
Interest and dividend income:
Loans, including fees	$	82,415	$	57,745
Investments:
Taxable securities	18,622		9,962
Tax exempt securities	1,307		942
Dividends	304		261
Interest bearing cash at Federal Reserve and other banks	259		285
Total interest and dividend income	102,907		69,195
Interest expense:
Deposits	5,145		678
Other borrowings	2,809		5
Junior subordinated debt	1,617		588
Total interest expense	9,571		1,271
Net interest income	93,336		67,924
Provision for credit losses	4,195		8,330
Net interest income after credit loss provision	89,141		59,594
Non-interest income:
Service charges and fees	11,197		11,696
Gain on sale of loans	206		1,246
Loss on sale of investment securities	(164)		—
Asset management and commission income	934		887
Increase in cash value of life insurance	802		638
Other	660		629
Total non-interest income	13,635		15,096
Non-interest expense:
Salaries and related benefits	32,563		28,597
Other	21,231		17,850
Total non-interest expense	53,794		46,447
Income before provision for income taxes	48,982		28,243
Provision for income taxes	13,149		7,869
Net income	$	35,833	$	20,374
Per share data:
Basic earnings per share	$	1.08	$	0.68
Diluted earnings per share	$	1.07	$	0.67
Dividends per share	$	0.30	$	0.25

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS)

(In thousands; unaudited)

	Three months ended March 31,
	2023		2022
Net income	$	35,833	$	20,374
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on available for sale securities arising during the period	24,444		(78,397)
Change in minimum pension liability	—		58
Change in joint beneficiary agreements	—		—
Other comprehensive income (loss)	24,444		(78,339)
Comprehensive income (loss)	$	60,277	$	(57,965)

See accompanying notes to unaudited condensed consolidated financial statements.

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TRICO BANCSHARES

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(In thousands, except share and per share data; unaudited)

	Shares of Common Stock	Common Stock		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total
Balance at January 1, 2022	29,730,424	$	532,244	$	466,959	$	981	$	1,000,184
Net income				20,374				20,374
Other comprehensive loss						(78,339)		(78,339)
Stock options exercised	3,325	55						55
RSU vesting		565						565
PSU vesting		247						247
RSUs released								—
Issuance of common stock	4,105,518	173,585						173,585
Repurchase of common stock	(1,332)	(24)		(32)				(56)
Dividends paid ($0.30 per share)				(7,433)				(7,433)
Three months ended March 31, 2022	33,837,935	$	706,672	$	479,868	$	(77,358)	$	1,109,182
Balance at January 1, 2023	33,331,513	$	697,448	$	542,873	$	(193,905)	$	1,046,416
Net income				35,833				35,833
Other comprehensive income						24,444		24,444
Stock options exercised	4,000	78						78
RSU vesting		728						728
PSU vesting		313						313
RSUs released	22,118							—
Repurchase of common stock	(162,381)	(3,399)		(4,196)				(7,595)
Dividends paid ($0.30 per share)				(9,972)				(9,972)
Three months ended March 31, 2023	33,195,250	$	695,168	$	564,538	$	(169,461)	$	1,090,245

See accompanying notes to unaudited condensed consolidated financial statements.

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TRICO BANCSHARES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands; unaudited)

	For the three months ended March 31,
	2023		2022
Operating activities:
Net income	$	35,833	$	20,374
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of premises and equipment, and amortization	1,566		1,409
Amortization of intangible assets	1,656		1,228
Provision for credit losses	4,195		8,330
Amortization of investment securities premium, net	174		5,618
Loss on sale of investment securities	164		—
Originations of loans for resale	(6,281)		(30,187)
Proceeds from sale of loans originated for resale	8,058		33,509
Gain on sale of loans	(206)		(1,246)
Change in market value of mortgage servicing rights	209		(274)
Operating lease expense payments	(1,653)		(1,292)
Gain on disposal of fixed assets	—		(1,078)
Increase in cash value of life insurance	(802)		(638)
(Gain) loss on marketable equity securities	(42)		137
Equity compensation vesting expense	1,041		812
Change in:
Interest receivable	468		(83)
Interest payable	476		(801)
Amortization of operating lease ROUA	1,739		1,374
Other assets and liabilities, net	(7,640)		(2,347)
Net cash from operating activities	38,955		34,845
Investing activities:
Proceeds from maturities of securities available for sale	56,905		85,298
Proceeds from maturities of securities held to maturity	8,842		12,894
Proceeds from sale of available for sale securities	24,160		—
Purchases of securities available for sale	—		(247,354)
Loan origination and principal collections, net	26,558		(161,865)
Proceeds from sale of premises and equipment	—		6,689
Purchases of premises and equipment	(1,213)		(631)
Cash acquired from VRB, net of cash consideration paid	—		426,883
Net cash from investing activities	115,252		121,914
Financing activities:
Net change in deposits	(303,148)		131,839
Net change in other borrowings	169,535		(13,903)
Repurchase of common stock, net of option exercises	(7,595)		—
Dividends paid	(9,972)		(7,433)
Exercise of stock options	78		—
Net cash (used by) from financing activities	(151,102)		110,503
Net change in cash and cash equivalents	3,105		267,262
Cash and cash equivalents, beginning of period	107,230		768,421
Cash and cash equivalents, end of period	$	110,335	$	1,035,683

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Supplemental disclosure of noncash activities:
Unrealized gain (loss) on securities available for sale	$	34,540	$	(111,302)
Loans transferred to held-for-sale	—		12,044
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes	621		55
Obligations incurred in conjunction with leased assets	4,484		521
Loans transferred to foreclosed assets	—		313
Supplemental disclosure of cash flow activity:
Cash paid for interest expense	$	9,095	$	1,546
Cash paid for income taxes	—		—
Business combination (1)
(1) During the period ended March 31, 2022, the VRB acquisition included fair value tangible assets acquired of $1.37 billion, liabilities assumed of $1.28 billion, resulting in goodwill of $0.09 billion.

See accompanying notes to unaudited condensed consolidated financial statements.

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NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 1 - Summary of Significant Accounting Policies

Description of Business and Basis of Presentation

TriCo Bancshares (the “Company” or “we”) is a California corporation organized to act as a bank holding company for Tri Counties Bank (the “Bank”). The Company and the Bank are headquartered in Chico, California. The Bank is a California-chartered bank that is engaged in the general commercial banking business in 33 California counties. The consolidated financial statements are prepared in accordance with accounting policies generally accepted in the United States of America and general practices in the banking industry. All adjustments necessary for a fair presentation of these consolidated financial statements have been included and are of a normal and recurring nature. The financial statements include the accounts of the Company. All inter-company accounts and transactions have been eliminated in consolidation.

The Company has five capital subsidiary business trusts (collectively, the “Capital Trusts”) that issued trust preferred securities, including two organized by the Company and three acquired with the acquisition of North Valley Bancorp. For financial reporting purposes, the Company’s investments in the Capital Trusts of $1.76 million are accounted for under the equity method and, accordingly, are not consolidated and are included in other assets on the consolidated balance sheet. See the footnote 'Junior Subordinated Debt' for additional information on borrowings outstanding.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”). The Company believes that the disclosures made are adequate to make the information not misleading.

Segment and Significant Group Concentration of Credit Risk

The Company grants agribusiness, commercial, consumer, and residential loans to customers located throughout California. The Company has a diversified loan portfolio within the business segments located in this geographical area. The Company currently classifies all its operation into one business segment that it denotes as community banking.

Geographical Descriptions

For the purpose of describing the geographical location of the Company’s operations, the Company has defined northern California as that area of California north of, and including, Stockton to the east and San Jose to the west; central California as that area of the state south of Stockton and San Jose, to and including, Bakersfield to the east and San Luis Obispo to the west; and southern California as that area of the state south of Bakersfield and San Luis Obispo.

Reclassification

Some items in the prior year consolidated financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’ equity.

Cash and Cash Equivalents

Net cash flows are reported for loan and deposit transactions and other borrowings. For purposes of the consolidated statement of cash flows, cash, due from banks with original maturities less than 90 days, interest-earning deposits in other banks, and Federal funds sold are considered to be cash equivalents.

Allowance for Credit Losses - Securities

The Company measures expected credit losses on HTM debt securities on a collective basis by major security type, then further disaggregated by sector and bond rating. Accrued interest receivable on HTM debt securities was considered insignificant at March 31, 2023 and is therefore excluded from the estimate of credit losses. The estimate of expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts based on current and expected changes in credit ratings and default rates. Based on the implied guarantees of the U. S. Government or its agencies related to certain of these investment securities, and the absence of any historical or expected losses, substantially all qualify for a zero loss assumption.

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Management has separately evaluated its HTM investment securities from obligations of state and political subdivisions utilizing the historical loss data represented by similar securities over a period of time spanning nearly 50 years. As a result of this evaluation, management determined that the expected credit losses associated with these securities is not significant for financial reporting purposes and therefore, no allowance for credit losses has been recognized.

The Company evaluates AFS debt securities in an unrealized loss position to determine whether the decline in the fair value below the amortized cost basis (impairment) is due to credit-related factors or noncredit-related factors. Any impairment that is not credit related is recognized in other comprehensive income, net of applicable taxes. Credit-related impairment is recognized as an allowance for credit losses on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings. Both the allowance for credit losses and the adjustment to net income may be reversed if conditions change. However, if the Company intends to sell an impaired available for sale debt security or more likely than not will be required to sell such a security before recovering its amortized cost basis, the entire impairment amount is recognized in earnings with a corresponding adjustment to the security's amortized cost basis. In evaluating available for sale debt securities in unrealized loss positions for impairment and the criteria regarding its intent or requirement to sell such securities, the Company considers the extent to which fair value is less than amortized cost, whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuers' financial condition, among other factors. Changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the ACL when management believes the uncollectability of an available for sale debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. No security credit losses were recognized during the three month periods ended March 31, 2023 and 2022, respectively.

Loans

Loans that management has the intent and ability to hold until maturity or payoff are reported at principle amount outstanding, net of deferred loan fees and costs. Loans are placed in nonaccrual status when reasonable doubt exists as to the full, timely collection of interest or principal, or a loan becomes contractually past due by 90 days or more with respect to interest or principal and is not well secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of principal is considered probable. Interest accruals are resumed on such loans only when they are brought fully current with respect to interest and principal and when, in the judgment of Management, the loan is estimated to be fully collectible as to both principal and interest. Accrued interest receivable is not included in the calculation of the allowance for credit losses.

Allowance for Credit Losses - Loans

The ACL is a valuation account that is deducted from the loan's amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged-off against the allowance when management believes the recorded loan balance is confirmed as uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Regardless of the determination that a charge-off is appropriate for financial accounting purposes, the Company manages its loan portfolio by continually monitoring, where possible, a borrower's ability to pay through the collection of financial information, delinquency status, borrower discussion and the encouragement to repay in accordance with the original contract or modified terms, if appropriate.

Management estimates the allowance balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. Historical credit loss experience provides the basis for the estimation of expected credit losses, which captures loan balances as of a point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over the remaining life. The Company identified and accumulated loan cohort historical loss data beginning with the fourth quarter of 2008 and through the current period. In situations where the Company's actual loss history was not statistically relevant, the loss history of peers, defined as financial institutions with assets greater than three billion and less than ten billion, were utilized to create a minimum loss rate. Adjustments to historical loss information are made for differences in relevant current loan-specific risk characteristics, such as historical timing of losses relative to the loan origination. In its loss forecasting framework, the Company incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios incorporate variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to changes in environmental conditions, such as California unemployment rates, household debt levels, changes in corporate debt yields, and U.S. gross domestic product.

PCD assets are assets acquired at a discount that is due, in part, to credit quality deterioration since origination. PCD assets are accounted for in accordance with ASC 326-20 and are initially recorded at fair value, by taking the sum of the present value of expected future cash flows and an allowance for credit losses, at acquisition. The allowance for credit losses for PCD assets is recorded through a gross-up of reserves on the balance sheet, while the allowance for acquired non-PCD assets, such as loans, is recorded through the provision for credit losses on the income statement, consistent with originated loans. Subsequent to acquisition, the allowance for credit losses for PCD loans will generally follow the same forward-looking estimation, provision, and charge-off process as non-PCD acquired and originated loans.

The Company has identified the following portfolio segments to evaluate and measure the allowance for credit loss:

Commercial real estate:

Commercial real estate - Non-owner occupied: These commercial properties typically consist of buildings which are leased to others for their use and rely on rents as the primary source of repayment. Property types are predominantly office, retail, or light industrial but the portfolio also has some special use properties. As such, the risk of loss associated with these properties is primarily driven by general

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economic changes or changes in regional economies and the impact of such on a tenant’s ability to pay. Ultimately this can affect occupancy, rental rates, or both. Additional risk of loss can come from new construction resulting in oversupply, the costs to hold or operate the property, or changes in interest rates. The terms on these loans at origination typically have maturities from five to ten years with amortization periods from fifteen to thirty years.

Commercial real estate - Owner occupied: These credits are primarily susceptible to changes in the financial condition of the business operated by the property owner. This may be driven by changes in, among other things, industry challenges, factors unique to the operating geography of the borrower, change in the individual fortunes of the business owner, general economic conditions and changes in business cycles. When default is driven by issues related specifically to the business owner, collateral values tend to provide better repayment support and may result in little or no loss. Alternatively, when default is driven more by general economic conditions, the underlying collateral may have devalued more and thus result in larger losses in the event of default. The terms on these loans at origination typically have maturities from five to ten years with amortization periods from fifteen to thirty years.

Multifamily: These commercial properties are generally comprised of more than four rentable units, such as apartment buildings, with each unit intended to be occupied as the primary residence for one or more persons. Multifamily properties are also subject to changes in general or regional economic conditions, such as unemployment, ultimately resulting in increased vacancy rates or reduced rents or both. In addition, new construction can create an oversupply condition and market competition resulting in increased vacancy, reduced market rents, or both. Due to the nature of their use and the greater likelihood of tenant turnover, the management of these properties is more intensive and therefore is more critical to the preclusion of loss.

Farmland: While the Company has few loans that were originated for the purpose of the acquisition of these commercial properties, loans secured by farmland represent unique risks that are associated with the operation of an agricultural businesses. The valuation of farmland can vary greatly over time based on the property's access to resources including but not limited to water, crop prices, foreign exchange rates, government regulation or restrictions, and the nature of ongoing capital investment needed to maintain the quality of the property. Loans secured by farmland typically represent less risk to the Company than other agriculture loans as the real estate typically provides greater support in the event of default or need for longer term repayment.

Consumer loans:

SFR 1-4 1st DT Liens: The most significant drivers of potential loss within the Company's residential real estate portfolio relate general, regional, or individual changes in economic conditions and their effect on employment and borrowers cash flow. Risk in this portfolio is best measured by changes in borrower credit score and loan-to-value. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the value of homes and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate.

SFR HELOCs and Junior Liens: Similar to residential real estate term loans, HELOCs and junior liens performance is also primarily driven by borrower cash flows based on employment status. However, HELOCs carry additional risks associated with the fact that most of these loans are secured by a deed of trust in a position that is junior to the primary lien holder. Furthermore, the risk that as the borrower's financial strength deteriorates, the outstanding balance on these credit lines may increase as they may only be canceled by the Company if certain limited criteria are met. In addition to the allowance for credit losses maintained as a percent of the outstanding loan balance, the Company maintains additional reserves for the unfunded portion of the HELOC.

Other: The majority of consumer loans are secured by automobiles, with the remainder primarily unsecured revolving debt (credit cards). These loans are susceptible to three primary risks; non-payment due to income loss, over-extension of credit and, when the borrower is unable to pay, shortfall in collateral value, if any. Typically non-payment is due to loss of job and will follow general economic trends in the marketplace driven primarily by rises in the unemployment rate. Loss of collateral value can be due to market demand shifts, damage to collateral itself or a combination of those factors. Credit card loans are unsecured and while collection efforts are pursued in the event of default, there is typically limited opportunity for recovery. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate.

Commercial and Industrial:

Repayment of these loans is primarily based on the cash flow of the borrower, and secondarily on the underlying collateral provided by the borrower. A borrower's cash flow may be unpredictable, and collateral securing these loans may fluctuate in value. Most often, collateral includes accounts receivable, inventory, or equipment. Collateral securing these loans may depreciate over time, may be difficult to appraise, may be illiquid and may fluctuate in value based on the success of the business. Actual and forecast changes in gross domestic product are believed to be corollary to losses associated with these credits.

Construction:

While secured by real estate, construction loans represent a greater level of risk than term real estate loans due to the nature of the additional risks associated with the not only the completion of construction within an estimated time period and budget, but also the need to either sell the building or reach a level of stabilized occupancy sufficient to generate the cash flows necessary to support debt service and operating costs. The Company seeks to mitigate the additional risks associated with construction lending by requiring borrowers to comply with lower loan to value ratios and additional covenants as well as strong tertiary support of guarantors. The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset as adjusted for macroeconomic factors.

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Agriculture Production:

Repayment of agricultural loans is dependent upon successful operation of the agricultural business, which is greatly impacted by factors outside the control of the borrower. These factors include adverse weather conditions, including access to water, that may impact crop yields, loss of livestock due to disease or other factors, declines in market prices for agriculture products, changes in foreign exchange, and the impact of government regulations. In addition, many farms are dependent on a limited number of key individuals whose injury or death may significantly affect the successful operation of the business. Consequently, agricultural production loans may involve a greater degree of risk than other types of loans.

Leases:

The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset. Leases typically represent an elevated level of credit risk as compared to loans secured by real estate as the collateral for leases is often subject to a more rapid rate of depreciation or depletion. The ultimate severity of loss is impacted by the type of collateral securing the exposure, the size of the exposure, the borrower’s industry sector, any guarantors and the geographic market. Assumptions of expected loss are conditioned to the economic outlook and the other variables discussed above.

Unfunded commitments:

The estimated credit losses associated with these unfunded lending commitments is calculated using the same models and methodologies noted above and incorporate utilization assumptions at time of default. The reserve for unfunded commitments is maintained on the consolidated balance sheet in other liabilities.

Accounting Standards Recently Issued or Adopted

FASB issued ASU 2023-02, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. This ASU permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. The adoption of this accounting guidance is not expected to have a material impact on the Company’s consolidated financial statements.

FASB issued ASU 2022-02, Financial Instruments — Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. This ASU addresses feedback received from adopters of CECL, specifically regarding accounting guidance for TDRs and disclosures of gross write-offs by year of loan origination. Accounting guidance for TDRs by creditors will be eliminated under this amendment, while also enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Amendments in this ASU were effective for the Company beginning January 1, 2023 and applied on a prospective basis. The adoption of this accounting guidance did not have a material impact on the Company's consolidated financial statements.

Note 2 - Business Combinations

On March 25, 2022, the Company completed its acquisition of Valley Republic Bancorp, including the merger of Valley Republic Bank into Tri Counties Bank, with Tri Counties Bank as the surviving entity, in accordance with the terms of the merger agreement dated as of July 27, 2021. The cash and stock transaction was valued at approximately $174.0 million in aggregate, based on TriCo's closing stock price of $42.48 on March 25, 2022. Under the terms of the merger agreement, the Company issued approximately 4.1 million shares, in addition to approximately $0.4 million in cash paid out for settlement of stock option awards at VRB.

The following table summarizes the consideration paid for VRB and the amounts of assets acquired and liabilities assumed that were recorded at the acquisition date (in thousands):

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	Fair Value as of March 25, 2022
Fair value of consideration transferred:
Fair value of shares issued	$	173,585
Cash consideration	431
Total fair value of consideration transferred	174,016
Assets acquired:
Cash and cash equivalents	427,314
Securities available for sale	109,716
Loans and leases	771,353
Premises and equipment	4,658
Cash value of life insurance	13,609
Core deposit intangible	10,635
Other assets	29,744
Total assets acquired	1,367,029
Liabilities assumed:
Deposits	(1,215,479)
Subordinated debt	(47,236)
SERP liability	(3,352)
Other liabilities	(10,516)
Total liabilities assumed	(1,276,583)
Total net assets acquired	90,446
Goodwill recognized	$	83,570

Note 3 - Investment Securities

The amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables:

	March 31, 2023
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	1,531,759	$	5	$	(174,329)	$	—	$	1,357,435
Obligations of states and political subdivisions	308,129		698		(28,927)		—		279,900
Corporate bonds	6,165		—		(427)		—		5,738
Asset backed securities	440,259		18		(12,913)		—		427,364
Non-agency collateralized mortgage obligations	375,345		—		(39,970)		—		335,375
Total debt securities available for sale	$	2,661,657	$	721	$	(256,566)	$	—	$	2,405,812
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	148,700	$	1	$	(9,942)	—		138,759
Obligations of states and political subdivisions	3,367		14		(5)		—		3,376
Total debt securities held to maturity	$	152,067	$	15	$	(9,947)	$	—	$	142,135

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	December 31, 2022
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	1,568,408	$	3	$	(195,642)	$	—	$	1,372,769
Obligations of states and political subdivisions	332,625		401		(39,821)		—		293,205
Corporate bonds	6,164		—		(413)		—		5,751
Asset backed securities	454,943		17		(15,193)		—		439,767
Non-agency collateralized mortgage obligations	380,847		—		(39,901)		—		340,946
Total debt securities available for sale	$	2,742,987	$	421	$	(290,970)	$	—	$	2,452,438
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	154,830	$	2	$	(11,013)	$	—	$	143,819
Obligations of states and political subdivisions	6,153		13		(47)		—		6,119
Total debt securities held to maturity	$	160,983	$	15	$	(11,060)	$	—	$	149,938

Proceeds from the sale of investment securities totaled $24.2 million for the three months ended March 31, 2023, resulting in gross realized losses of $0.2 million. There were no sales of investment securities during the three months ended March 31, 2022. Investment securities with an aggregate carrying value of $648.4 million and $595.8 million at March 31, 2023 and December 31, 2022, respectively, were pledged as collateral for specific borrowings, lines of credit or local agency deposits.

The amortized cost and estimated fair value of debt securities at March 31, 2023 by contractual maturity are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. At March 31, 2023, obligations of U.S. government corporations and agencies with a cost basis totaling $1,502.5 billion consist almost entirely of residential real estate mortgage-backed securities whose contractual maturity, or principal repayment, will follow the repayment of the underlying mortgages. For purposes of the following table, the entire outstanding balance of these mortgage-backed securities issued by U.S. government corporations and agencies is categorized based on final maturity date. At March 31, 2023, the Company estimates the average remaining life of these mortgage-backed securities issued by U.S. government corporations and agencies to be approximately 6.53 years. Average remaining life is defined as the time span after which the principal balance has been reduced by half.

As of March 31, 2023, the contractual final maturity for available for sale and held to maturity investment securities is as follows:

Debt Securities	Available for Sale				Held to Maturity
(in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year	$	57,662	$	56,205	$	—	$	—
Due after one year through five years	114,294		109,745		5,316		5,157
Due after five years through ten years	407,960		389,802		9,592		9,081
Due after ten years	2,081,741		1,850,060		137,159		127,897
Totals	$	2,661,657	$	2,405,812	$	152,067	$	142,135

Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:

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March 31, 2023:	Less than 12 months				12 months or more				Total
(in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	298,264	$	(18,024)	$	1,058,654	$	(156,305)	$	1,356,918	$	(174,329)
Obligations of states and political subdivisions	126,230		(7,797)		105,039		(21,130)		231,269		(28,927)
Corporate bonds	1,846		(135)		3,892		(292)		5,738		(427)
Asset backed securities	112,239		(1,994)		309,739		(10,919)		421,978		(12,913)
Non-agency collateralized mortgage obligations	73,343		(2,639)		248,617		(37,331)		321,960		(39,970)
Total debt securities available for sale	$	611,922	$	(30,589)	$	1,725,941	$	(225,977)	$	2,337,863	$	(256,566)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	41,389	$	(2,252)	$	97,370	$	(7,690)	$	138,759	$	(9,942)
Obligations of states and political subdivisions	1,050		(5)		—		—		1,050		(5)
Total debt securities held to maturity	$	42,439	$	(2,257)	$	97,370	$	(7,690)	$	139,809	$	(9,947)

December 31, 2022:	Less than 12 months				12 months or more				Total
(in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	605,615	$	(61,408)	$	766,612	$	(134,234)	$	1,372,227	$	(195,642)
Obligations of states and political subdivisions	219,532		(26,904)		43,282		(12,917)		262,814		(39,821)
Corporate bonds	5,751		(413)		—		—		5,751		(413)
Asset backed securities	231,703		(4,955)		205,329		(10,238)		437,032		(15,193)
Non-agency collateralized mortgage obligations	123,075		(3,421)		203,620		(36,480)		326,695		(39,901)
Total debt securities available for sale	$	1,185,676	(97,101)		$	1,218,843	$	(193,869)	$	2,404,519	$	(290,970)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	143,577	$	(11,013)	$	—	$	—	$	143,577	$	(11,013)
Obligations of states and political subdivisions	4,530		(47)		—		—		4,530		(47)
Total debt securities held to maturity	$	148,107	$	(11,060)	$	—	$	—	$	148,107	$	(11,060)

Obligations of U.S. government agencies: The unrealized losses on investments in obligations of U.S. government agencies are caused by interest rate increases and illiquidity. The contractual cash flows of these securities are guaranteed by U.S. Government Sponsored Entities (principally Fannie Mae and Freddie Mac). It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded. At March 31, 2023, 261 debt securities representing obligations of U.S. government agencies had unrealized losses with aggregate depreciation of 10.97% from the Company’s amortized cost basis.

Obligations of states and political subdivisions: The unrealized losses on investments in obligations of states and political subdivisions were caused by increases in required yields by investors in these types of securities. It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded as of March 31, 2023. At March 31, 2023, 159 debt securities representing obligations of states and political subdivisions had unrealized losses with aggregate depreciation of 11.07% from the Company’s amortized cost basis.

Corporate bonds: The unrealized losses on investments in corporate bonds were caused by increases in required yields by investors in these types of securities. It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded as of March 31, 2023. At March 31, 2023, 6 debt securities representing corporate bonds had unrealized losses with aggregate depreciation of 6.93% from the Company’s amortized cost basis.

Asset backed securities: The unrealized losses on investments in asset backed securities were caused by increases in required yields by investors for these types of securities. At the time of purchase, each of these securities was rated AA or AAA and through March 31, 2023

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has not experienced any deterioration in credit rating. At March 31, 2023, 47 asset backed securities had unrealized losses with aggregate depreciation of 2.97% from the Company’s amortized cost basis. The Company continues to monitor these securities for changes in credit rating or other indications of credit deterioration. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded as of March 31, 2023.

Non-agency collateralized mortgage obligations: The unrealized losses on investments in asset backed securities were caused by increases in required yields by investors in these types of securities. It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses as of and for the year ended March 31, 2023. At March 31, 2023, 22 asset backed securities had unrealized losses with aggregate depreciation of 11.04% from the Company’s amortized cost basis.

The Company monitors credit quality of debt securities held-to-maturity through the use of credit rating. The Company monitors the credit rating on a monthly basis. The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator:

	March 31, 2023				December 31, 2022
(in thousands)	AAA/AA/A		BBB/BB/B		AAA/AA/A		BBB/BB/B
Obligations of U.S. government agencies	$	148,700	$	—	$	154,830	$	—
Obligations of states and political subdivisions	3,367		—		6,153		—
Total debt securities held to maturity	$	152,067	$	—	$	160,983	$	—

Note 4 – Loans

A summary of loan balances at amortized cost are as follows:

(in thousands)	March 31, 2023		December 31, 2022
Commercial real estate:
CRE non-owner occupied	$	2,161,059	$	2,149,725
CRE owner occupied	971,210		984,807
Multifamily	946,693		944,537
Farmland	274,997		280,014
Total commercial real estate loans	4,353,959		4,359,083
Consumer:
SFR 1-4 1st DT liens	803,407		790,349
SFR HELOCs and junior liens	375,591		393,666
Other	54,799		56,728
Total consumer loans	1,233,797		1,240,743
Commercial and industrial	553,098		569,921
Construction	225,996		211,560
Agriculture production	47,062		61,414
Leases	8,509		7,726
Total loans, net of deferred loan fees and discounts	$	6,422,421	$	6,450,447
Total principal balance of loans owed, net of charge-offs	$	6,467,936	$	6,496,210
Unamortized net deferred loan fees	(16,423)		(15,275)
Discounts to principal balance of loans owed, net of charge-offs	(29,092)		(30,488)
Total loans, net of unamortized deferred loan fees and discounts	$	6,422,421	$	6,450,447
Allowance for credit losses on loans	$	(108,407)	$	(105,680)

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Note 5 – Allowance for Credit Losses

For the periods indicated, the following tables summarize the activity in the allowance for credit losses on loans which is recorded as a contra asset, and the reserve for unfunded commitments which is recorded on the balance sheet within other liabilities:

	Allowance for credit losses – Three months ended March 31, 2023
(in thousands)	Beginning Balance		Charge-offs		Recoveries		Provision (benefit)		Ending  Balance
Commercial real estate:
CRE non-owner occupied	$	30,962	$	—	$	—	$	2,001	$	32,963
CRE owner occupied	14,014		—		—		545		14,559
Multifamily	13,132		—		—		741		13,873
Farmland	3,273		—		—		269		3,542
Total commercial real estate loans	61,381		—		—		3,556		64,937
Consumer:
SFR 1-4 1st DT liens	11,268		—		—		652		11,920
SFR HELOCs and junior liens	11,413		(42)		65		(522)		10,914
Other	1,958		(142)		51		195		2,062
Total consumer loans	24,639		(184)		116		325		24,896
Commercial and industrial	13,597		(1,574)		53		(7)		12,069
Construction	5,142		—		—		513		5,655
Agriculture production	906		—		1		(74)		833
Leases	15		—		—		2		17
Allowance for credit losses on loans	105,680		(1,758)		170		4,315		108,407
Reserve for unfunded commitments	4,315		—		—		(120)		4,195
Total	$	109,995	$	(1,758)	$	170	$	4,195	$	112,602

In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. To estimate expected losses the Company generally utilizes historical loss trends and the remaining contractual lives of the loan portfolios to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators including loan grade and borrower repayment performance have been statistically correlated with historical credit losses and various econometrics, including California unemployment, gross domestic product, and corporate bond yields. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results.

The Company utilizes a forecast period of approximately eight quarters and obtains the forecast data from publicly available sources as of the balance sheet date. This forecast data continues to evolve and included improving shifts in the magnitude of changes for both the unemployment and GDP factors leading up to the balance sheet date, particularly CA unemployment trends. As compared to historical norms, inflation remains elevated from continued disruptions in the supply chain, wage pressures, and higher living costs such as housing and food prices Despite the expected continued benefit to the net interest income of the Company from the elevated rate environment, Management notes the rapid intervals of rate increases by the Federal Reserve and flattening or inversion of the yield curve, have boosted expectations of the US entering a recession within 12 months. As a result, management continues to believe that certain credit weakness are likely present in the overall economy and that it is appropriate to cautiously maintain a reserve level that incorporates such risk factors.

Purchased loans and leases that reflect a more-than-insignificant deterioration of credit from origination are considered PCD. For PCD loans and leases, the initial estimate of expected credit losses is recognized in the ACL on the date of acquisition using the same methodology as other loans and leases held-for-investment. The following table provides a summary of loans and leases purchased as part of the VRB acquisition with credit deterioration at acquisition:

	As of March 25, 2022
(in thousands)	Commercial Real Estate		Consumer		Commercial and Industrial		Construction		Agriculture Production		Total
Par value	$	27,237	$	3,877	$	2,674	$	25,645	$	9,080	$	68,513
ACL at acquisition	(1,573)		(144)		(81)		(201)		(38)		(2,037)
Non-credit discount	(2,305)		(360)		(47)		(232)		(12)		(2,956)
Purchase price	$	23,359	$	3,373	$	2,546	$	25,212	$	9,030	$	63,520

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For the periods indicated, the following tables summarize the activity in the allowance for credit losses on loans which is recorded as a contra asset, and the reserve for unfunded commitments which is recorded on the balance sheet within other liabilities:

	Allowance for credit losses – Year ended December 31, 2022
(in thousands)	Beginning Balance		ACL of PCD Loans		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Commercial real estate:
CRE non-owner occupied	$	25,739	$	746	$	—	$	1	$	4,476	$	30,962
CRE owner occupied	10,691		63		—		2		3,258		14,014
Multifamily	12,395		—		—		—		737		13,132
Farmland	2,315		764		(294)		—		488		3,273
Total commercial real estate loans	51,140		1,573		(294)		3		8,959		61,381
Consumer:
SFR 1-4 1st DT liens	10,723		144		—		79		322		11,268
SFR HELOCs and junior liens	10,510		—		(22)		429		496		11,413
Other	2,241		—		(572)		235		54		1,958
Total consumer loans	23,474		144		(594)		743		872		24,639
Commercial and industrial	3,862		81		(697)		1,157		9,194		13,597
Construction	5,667		201		—		—		(726)		5,142
Agriculture production	1,215		38		—		4		(351)		906
Leases	18		—		—		—		(3)		15
Allowance for credit losses on loans	85,376		2,037		(1,585)		1,907		17,945		105,680
Reserve for unfunded commitments	3,790		—		—		—		525		4,315
Total	$	89,166	$	2,037	$	(1,585)	$	1,907	$	18,470	$	109,995

	Allowance for credit losses – Three months ended March 31, 2022
(in thousands)	Beginning Balance		ACL of PCD Loans		Charge-offs		Recoveries		Provision		Ending Balance
Commercial real estate:
CRE non-owner occupied	$	25,739	$	746	$	—	$	—	$	1,570	$	28,055
CRE owner occupied	10,691		63		—		—		1,317		12,071
Multifamily	12,395		—		—		—		(408)		11,987
Farmland	2,315		764		(294)		—		94		2,879
Total commercial real estate loans	51,140		1,573		(294)		—		2,573		54,992
Consumer:
SFR 1-4 1st DT liens	10,723		144		—		40		(238)		10,669
SFR HELOCs and junior liens	10,510		—		—		175		158		10,843
Other	2,241		—		(119)		71		(26)		2,167
Total consumer loans	23,474		144		(119)		286		(106)		23,679
Commercial and industrial	3,862		81		(330)		887		4,542		9,042
Construction	5,667		201		—		—		1,569		7,437
Agriculture production	1,215		38		—		1		(371)		883
Leases	18		—		—		—		(2)		16
Allowance for credit losses on loans	85,376		2,037		(743)		1,174		8,205		96,049
Reserve for unfunded commitments	3,790		—		—		—		125		3,915
Total	$	89,166	$	2,037	$	(743)	$	1,174	$	8,330	$	99,964

As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including, but not limited to, trends relating to (i) the level of criticized and classified loans, (ii) net charge-offs, (iii) non-performing loans, and (iv) delinquency within the portfolio. The Company analyzes loans individually to classify the loans as to credit risk and grading. This analysis is performed annually for all outstanding balances greater than $1 million and non-homogeneous loans, such as commercial real

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estate loans, unless other indicators, such as delinquency, trigger more frequent evaluation. Loans below the $1 million threshold and homogenous in nature are evaluated as needed for proper grading based on delinquency and borrower credit scores.

The Company utilizes a risk grading system to assign a risk grade to each of its loans. Loans are graded on a scale ranging from Pass to Loss. A description of the general characteristics of the risk grades is as follows:

•Pass – This grade represents loans ranging from acceptable to very little or no credit risk. These loans typically meet most if not all policy standards in regard to: loan amount as a percentage of collateral value, debt service coverage, profitability, leverage, and working capital.

•Special Mention – This grade represents “Other Assets Especially Mentioned” in accordance with regulatory guidelines and includes loans that display some potential weaknesses which, if left unaddressed, may result in deterioration of the repayment prospects for the asset or may inadequately protect the Company’s position in the future. These loans warrant more than normal supervision and attention.

•Substandard – This grade represents “Substandard” loans in accordance with regulatory guidelines. Loans within this rating typically exhibit weaknesses that are well defined to the point that repayment is jeopardized. Loss potential is, however, not necessarily evident. The underlying collateral supporting the credit appears to have sufficient value to protect the Company from loss of principal and accrued interest, or the loan has been written down to the point where this is true. There is a definite need for a well-defined workout/rehabilitation program.

•Doubtful – This grade represents “Doubtful” loans in accordance with regulatory guidelines. An asset classified as Doubtful has all the weaknesses inherent in a loan classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and financing plans.

•Loss – This grade represents “Loss” loans in accordance with regulatory guidelines. A loan classified as Loss is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan, even though some recovery may be affected in the future. The portion of the loan that is graded loss should be charged off no later than the end of the quarter in which the loss is identified.

Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the period indicated:

	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2023
(in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate:
CRE non-owner occupied risk ratings
Pass	$	29,991	$	412,225	$	293,358	$	152,186	$	225,912	$	868,576	$	120,771	$	—	$	2,103,019
Special Mention	—		—		7,430		—		19,905		25,555		1,556		—		54,446
Substandard	—		—		827		743		218		1,806		—		—		3,594
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	29,991	$	412,225	$	301,615	$	152,929	$	246,035	$	895,937	$	122,327	$	—	$	2,161,059
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate:
CRE owner occupied risk ratings
Pass	$	17,630	$	201,342	$	194,894	$	121,856	$	63,323	$	291,219	$	33,526	$	—	$	923,790
Special Mention	—		131		16,818		232		724		7,794		838		—		26,537
Substandard	—		3,153		—		5,217		1,877		10,479		157		—		20,883
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	17,630	$	204,626	$	211,712	$	127,305	$	65,924	$	309,492	$	34,521	$	—	$	971,210
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

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	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2023
(in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate:
Multifamily risk ratings
Pass	$	2,849	$	178,177	$	289,301	$	95,352	$	108,051	$	239,322	$	33,524	$	—	$	946,576
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		117		—		—		117
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	2,849	$	178,177	$	289,301	$	95,352	$	108,051	$	239,439	$	33,524	$	—	$	946,693
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate:
Farmland risk ratings
Pass	$	14,429	$	46,353	$	53,146	$	16,430	$	18,037	$	46,924	$	52,382	$	—	$	247,701
Special Mention	—		3,140		—		304		5,000		3,386		—		—		11,830
Substandard	—		—		775		371		—		10,837		3,483		—		15,466
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	14,429	$	49,493	$	53,921	$	17,105	$	23,037	$	61,147	$	55,865	$	—	$	274,997
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer loans:
SFR 1-4 1st DT liens risk ratings
Pass	$	15,719	$	193,110	$	271,654	$	127,830	$	32,755	$	141,016	$	8	$	3,506	$	785,598
Special Mention	—		1,079		—		3,234		280		8,662		—		67		13,322
Substandard	—		—		1,189		—		—		2,667		—		631		4,487
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	15,719	$	194,189	$	272,843	$	131,064	$	33,035	$	152,345	$	8	$	4,204	$	803,407
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer loans:
SFR HELOCs and Junior Liens
Pass	$	360	$	—	$	—	$	—	$	—	$	119	$	362,806	$	7,858	$	371,143
Special Mention	—		—		—		—		—		—		646		23		669
Substandard	—		—		—		—		—		—		3,159		620		3,779
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	360	$	—	$	—	$	—	$	—	$	119	$	366,611	$	8,501	$	375,591
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	43	$	43

Consumer loans:
Other risk ratings
Pass	$	4,305	$	11,888	$	12,044	$	9,376	$	9,680	$	6,274	$	588	$	—	$	54,155
Special Mention	—		—		13		64		130		200		16		—		423
Substandard	—		—		—		42		70		87		22		—		221
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	4,305	$	11,888	$	12,057	$	9,482	$	9,880	$	6,561	$	626	$	—	$	54,799
Current period gross write-offs	$	96	$	6	$	—	$	—	$	29	$	7	$	3	$	—	$	141

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	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2023
(in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial and industrial loans:
Commercial and industrial risk ratings
Pass	$	34,754	$	107,807	$	64,490	$	15,801	$	20,277	$	11,093	$	273,269	$	402	$	527,893
Special Mention	44		2,750		60		20		29		1,037		9,453		—		13,393
Substandard	—		1,223		1,869		3,235		11		298		5,076		100		11,812
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	34,798	$	111,780	$	66,419	$	19,056	$	20,317	$	12,428	$	287,798	$	502	$	553,098
Current period gross write-offs	$	6	$	—	$	—	$	1,550	$	—	$	—	$	—	$	18	$	1,574

Construction loans:
Construction risk ratings
Pass	$	10,823	$	93,294	$	67,911	$	41,776	$	4,904	$	6,736	$	—	$	—	$	225,444
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		458		94		—		—		552
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	10,823	$	93,294	$	67,911	$	41,776	$	5,362	$	6,830	$	—	$	—	$	225,996
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Agriculture production loans:
Agriculture production risk ratings
Pass	$	50	$	3,140	$	2,567	$	1,003	$	929	$	9,755	$	21,690	$	—	$	39,134
Special Mention	—		—		—		—		—		103		4,769		—		4,872
Substandard	—		—		—		—		—		—		3,056		—		3,056
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	50	$	3,140	$	2,567	$	1,003	$	929	$	9,858	$	29,515	$	—	$	47,062
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Leases:
Lease risk ratings
Pass	$	8,509	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$8,509
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	8,509	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	8,509
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total loans outstanding:
Risk ratings
Pass	$	139,419	$	1,247,336	$	1,249,365	$	581,610	$	483,868	$	1,621,034	$	898,564	$	11,766	$	6,232,962
Special Mention	44		7,100		24,321		3,854		26,068		46,737		17,278		90		125,492
Substandard	—		4,376		4,660		9,608		2,634		26,385		14,953		1,351		63,967
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	139,463	$	1,258,812	$	1,278,346	$	595,072	$	512,570	$	1,694,156	$	930,795	$	13,207	$	6,422,421
Current period gross write-offs	$	102	$	6	$	—	$	1,550	$	29	$	7	$	3	$	61	$	1,758

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	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022
(in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate:
CRE non-owner occupied risk ratings
Pass	$	399,910	$	304,636	$	152,960	$	221,659	$	147,842	$	748,994	$	123,794	$	—	$	2,099,795
Special Mention	—		—		—		20,033		—		21,681		1,346		—		43,060
Substandard	—		864		768		—		1,059		4,179		—		—		6,870
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	399,910	$	305,500	$	153,728	$	241,692	$	148,901	$	774,854	$	125,140	$	—	$	2,149,725

Commercial real estate:
CRE owner occupied risk ratings
Pass	$	210,101	$	197,787	$	120,929	$	64,244	$	49,755	$	251,137	$	43,343	$	—	$	937,296
Special Mention	131		16,296		234		731		—		6,971		879		—		25,242
Substandard	3,213		—		5,249		1,893		1,103		10,654		157		—		22,269
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	213,445	$	214,083	$	126,412	$	66,868	$	50,858	$	268,762	$	44,379	$	—	$	984,807

Commercial real estate:
Multifamily risk ratings
Pass	$	159,318	$	290,170	$	96,937	$	108,586	$	106,287	$	154,125	$	28,989	$	—	$	944,412
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		125		—		—		125
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	159,318	$	290,170	$	96,937	$	108,586	$	106,287	$	154,250	$	28,989	$	—	$	944,537

Commercial real estate:
Farmland risk ratings
Pass	$	47,067	$	53,275	$	16,739	$	18,589	$	12,386	$	34,528	$	53,684	$	—	$	236,268
Special Mention	3,139		783		246		5,000		—		3,991		14,275		—		27,434
Substandard	—		—		1,772		765		3,158		7,094		3,523		—		16,312
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	50,206	$	54,058	$	18,757	$	24,354	$	15,544	$	45,613	$	71,482	$	—	$	280,014

Consumer loans:
SFR 1-4 1st DT liens risk ratings
Pass	$	194,933	$	265,370	$	131,922	$	33,395	$	28,545	$	115,469	$	8	$	2,924	$	772,566
Special Mention	—		—		1,531		282		3,277		5,854		—		465		11,409
Substandard	—		1,204		—		—		1,004		3,521		—		645		6,374
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	194,933	$	266,574	$	133,453	$	33,677	$	32,826	$	124,844	$	8	$	4,034	$	790,349

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	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022
(in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Consumer loans:
SFR HELOCs and Junior Liens
Pass	$	505	$	—	$	—	$	—	$	—	$	127	$	378,939	$	8,462	$	388,033
Special Mention	—		—		—		—		—		—		1,842		81		1,923
Substandard	—		—		—		—		—		—		3,072		638		3,710
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	505	$	—	$	—	$	—	$	—	$	127	$	383,853	$	9,181	$	393,666

Consumer loans:
Other risk ratings
Pass	$	14,070	$	12,990	$	10,211	$	10,650	$	5,225	$	1,945	$	899	$	—	$	55,990
Special Mention	—		18		77		135		176		32		47		—		485
Substandard	—		—		42		92		—		96		23		—		253
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	14,070	$	13,008	$	10,330	$	10,877	$	5,401	$	2,073	$	969	$	—	$	56,728

Commercial and industrial loans:
Commercial and industrial risk ratings
Pass	$	125,710	$	64,966	$	17,746	$	23,131	$	7,628	$	5,051	$	297,341	$	483	$	542,056
Special Mention	3,032		139		21		49		138		768		11,547		—		15,694
Substandard	1,293		1,142		5,179		14		33		611		3,798		101		12,171
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	130,035	$	66,247	$	22,946	$	23,194	$	7,799	$	6,430	$	312,686	$	584	$	569,921

Construction loans:
Construction risk ratings
Pass	$	72,840	$	72,308	$	43,409	$	15,358	$	2,159	$	4,900	$	—	$	—	$	210,974
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		457		—		129		—		—		586
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	72,840	$	72,308	$	43,409	$	15,815	$	2,159	$	5,029	$	—	$	—	$	211,560

Agriculture production loans:
Agriculture production risk ratings
Pass	$	3,414	$	2,777	$	1,149	$	1,104	$	8,902	$	1,058	$	38,425	$	—	$	56,829
Special Mention	—		—		—		—		90		31		1,632		—		1,753
Substandard	—		—		—		—		—		—		2,832		—		2,832
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	3,414	$	2,777	$	1,149	$	1,104	$	8,992	$	1,089	$	42,889	$	—	$	61,414

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	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022
(in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Leases:
Lease risk ratings
Pass	$	7,726	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	7,726
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	7,726	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	7,726

Total loans outstanding:
Risk ratings
Pass	$	1,235,594	$	1,264,279	$	592,002	$	496,716	$	368,729	$	1,317,334	$	965,422	$	11,869	$	6,251,945
Special Mention	6,302		17,236		2,109		26,230		3,681		39,328		31,568		546		127,000
Substandard	4,506		3,210		13,010		3,221		6,357		26,409		13,405		1,384		71,502
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	1,246,402	$	1,284,725	$	607,121	$	526,167	$	378,767	$	1,383,071	$	1,010,395	$	13,799	$	6,450,447

The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:

	Analysis of Past Due Loans - As of March 31, 2023
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Commercial real estate:
CRE non-owner occupied	$	623	$	—	$	—	$	623	$	2,160,436	$	2,161,059
CRE owner occupied	156		82		172		410		970,800		971,210
Multifamily	—		—		—		—		946,693		946,693
Farmland	150		—		—		150		274,847		274,997
Total commercial real estate loans	929		82		172		1,183		4,352,776		4,353,959
Consumer:
SFR 1-4 1st DT liens	442		557		356		1,355		802,052		803,407
SFR HELOCs and junior liens	—		1,342		793		2,135		373,456		375,591
Other	49		136		121		306		54,493		54,799
Total consumer loans	491		2,035		1,270		3,796		1,230,001		1,233,797
Commercial and industrial	471		1,620		364		2,455		550,643		553,098
Construction	—		78		379		457		225,539		225,996
Agriculture production	—		—		—		—		47,062		47,062
Leases	—		—		—		—		8,509		8,509
Total	$	1,891	$	3,815	$	2,185	$	7,891	$	6,414,530	$	6,422,421

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	Analysis of Past Due Loans - As of December 31, 2022
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Commercial real estate:
CRE non-owner occupied	$	—	$	—	$	—	$	—	$	2,149,725	$	2,149,725
CRE owner occupied	—		98		75		173		984,634		984,807
Multifamily	159		—		—		159		944,378		944,537
Farmland	—		—		—		—		280,014		280,014
Total commercial real estate loans	159		98		75		332		4,358,751		4,359,083
Consumer:
SFR 1-4 1st DT liens	24		—		279		303		790,046		790,349
SFR HELOCs and junior liens	172		166		707		1,045		392,621		393,666
Other	26		34		55		115		56,613		56,728
Total consumer loans	222		200		1,041		1,463		1,239,280		1,240,743
Commercial and industrial	2,300		190		283		2,773		567,148		569,921
Construction	—		—		379		379		211,181		211,560
Agriculture production	—		—		—		—		61,414		61,414
Leases	—		—		—		—		7,726		7,726
Total	$	2,681	$	488	$	1,778	$	4,947	$	6,445,500	$	6,450,447

The following table shows the ending balance of non accrual loans by loan category as of the date indicated:

	Non Accrual Loans
	As of March 31, 2023						As of December 31, 2022
(in thousands)	Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing		Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing
Commercial real estate:
CRE non-owner occupied	$	1,671	$	1,671	$	—	$	1,739	$	1,739	$	—
CRE owner occupied	3,848		3,848		—		4,938		4,938		—
Multifamily	117		117		—		125		125		—
Farmland	371		371		—		1,772		1,772		—
Total commercial real estate loans	6,007		6,007		—		8,574		8,574		—
Consumer:
SFR 1-4 1st DT liens	3,532		3,532		—		4,117		4,220		—
SFR HELOCs and junior liens	2,790		3,373		—		2,498		3,155		—
Other	78		139		—		47		84		—
Total consumer loans	6,400		7,044		—		6,662		7,459		—
Commercial and industrial	95		1,372		189		1,224		3,518		—
Construction	457		457		—		491		491		—
Agriculture production	957		957		—		1,279		1,279		—
Leases	—		—		—		—		—		—
Sub-total	13,916		15,837		189		18,230		21,321		—
Less: Guaranteed loans	(75)		(230)		—		(105)		(225)
Total, net	$	13,841	$	15,607	$	189	$	18,125	$	21,096	$	—

Interest income on non accrual loans that would have been recognized during the three months ended March 31, 2023 and 2022, if all such loans had been current in accordance with their original terms, totaled $0.32 million and $0.17 million, respectively. Interest income actually recognized on these originated loans during the three months ended March 31, 2023 and 2022 was $17 thousand and $13 thousand, respectively.

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The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods:

	As of March 31, 2023
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR-1st Deed		SFR-2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Total
Commercial real estate:
CRE non-owner occupied	$	749	$	95	$	—	$	827	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1,671
CRE owner occupied	523		75		—		3,250		—		—		—		—		—		—		—		3,848
Multifamily	—		—		—		—		117		—		—		—		—		—		—		117
Farmland	—		—		—		—		—		371		—		—		—		—		—		371
Total commercial real estate loans	1,272		170		—		4,077		117		371		—		—		—		—		—		6,007
Consumer:
SFR 1-4 1st DT liens	—		—		—		—		—		—		3,532		—		—		—		—		3,532
SFR HELOCs and junior liens	—		—		—		—		—		—		1,705		1,308		—		—		—		3,013
Other	—		—		—		4		—		—		—		—		124		—		2		130
Total consumer loans	—		—		—		4		—		—		5,237		1,308		124		—		2		6,675
Commercial and industrial	—		—		—		—		—		—		—		—		—		1,298		74		1,372
Construction	—		—		—		379		—		—		78		—		—		—		—		457
Agriculture production	—		—		—		—		—		—		—		—		—		—		957		957
Leases	—		—		—		—		—		—		—		—		—		—		—		—
Total	$	1,272	$	170	$	—	$	4,460	$	117	$	371	$	5,315	$	1,308	$	124	$	1,298	$	1,033	$	15,468

	As of December 31, 2022
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR -1st Deed		SFR -2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Total
Commercial real estate:
CRE non-owner occupied	$	777	$	98	$	—	$	864	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1,739
CRE owner occupied	548		75		1,103		3,212		—		—		—		—		—		—		—		4,938
Multifamily	—		—		—		—		125		—		—		—		—		—		—		125
Farmland	—		—		—		—		—		1,772		—		—		—		—		—		1,772
Total commercial real estate loans	1,325		173		1,103		4,076		125		1,772		—		—		—		—		—		8,574
Consumer:
SFR 1-4 1st DT liens	—		—		—		—		—		—		4,220		—		—		—		—		4,220
SFR HELOCs and junior liens	—		—		—		—		—		—		1,664		1,121		—		—		—		2,785
Other	—		—		—		5		—		—		—		—		61		—		2		68
Total consumer loans	—		—		—		5		—		—		5,884		1,121		61		—		2		7,073
Commercial and industrial	—		—		—		1,874		—		—		—		—		—		1,596		48		3,518
Construction	—		—		—		379		—		—		112		—		—		—		—		491
Agriculture production	—		—		—		—		—		—		—		—		—		—		1,279		1,279
Leases	—		—		—		—		—		—		—		—		—		—		—		—
Total	$	1,325	$	173	$	1,103	$	6,334	$	125	$	1,772	$	5,996	$	1,121	$	61	$	1,596	$	1,329	$	20,935

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Modifications to borrowers experiencing financial difficulty may include interest rate reductions, principal or interest forgiveness, forbearances, term extensions, and other actions intended to minimize economic loss and to avoid foreclosure or repossession of collateral.

The following tables show the amortized cost basis of loans that were both experiencing financial difficulty and modified during the periods presented. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivables is also presented below.

	For the three months ended March 31, 2023
(in thousands)	Payment Delay/Term Extension		Total % of Loans Outstanding
Commercial real estate:
CRE non-owner occupied	$	—	—	%
CRE owner occupied	—		—
Multifamily	—		—
Farmland	—		—
Total commercial real estate loans	—		—
Consumer:
SFR 1-4 1st DT liens	—		—
SFR HELOCs and junior liens	—		—
Other	—		—
Total consumer loans	—		—
Commercial and industrial	177		0.03
Construction	—		—
Agriculture production	—		—
Leases	—		—
Total	$	177	0.03	%

The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the quarter ended March 31, 2023.

	Weighted Average Months Term Extension
Commercial and industrial	12

There were no loans with payment defaults by borrowers experiencing financial difficulty during the quarter ended March 31, 2023 which had material modifications in rate, term or principal forgiveness during the twelve months prior to default.

Note 6 - Leases

The Company records a ROUA on the consolidated balance sheets for those leases that convey rights to control use of identified assets for a period of time in exchange for consideration. The Company also records a lease liability on the consolidated balance sheets for the present value of future payment commitments. All of the Company’s leases are comprised of operating leases in which the Company is lessee of real estate property for branches, ATM locations, and general administration and operations. The Company has elected not to include short-term leases (i.e. leases with initial terms of 12 month or less) within the ROUA and lease liability. Known or determinable adjustments to the required minimum future lease payments were included in the calculation of the Company’s ROUA and lease liability. Adjustments to the required minimum future lease payments that are variable and will not be determinable until a future period, such as changes in the consumer price index, are included as variable lease costs. Additionally, expected variable payments for common area maintenance, taxes and insurance were unknown and not determinable at lease commencement and therefore, were not included in the determination of the Company’s ROUA or lease liability.

The value of the ROUA and lease liability is impacted by the amount of the periodic payment required, length of the lease term, and the discount rate used to calculate the present value of the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. The lease liability is reduced based on the discounted present value of remaining payments as of each reporting period. The ROUA value is measured using the amount of lease liability and adjusted for prepaid or accrued lease payments, remaining lease incentives, unamortized direct costs (if any), and impairment (if any).

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The following table presents the components of lease expense for the periods ended:

	Three months ended March 31,
(in thousands)	2023		2022
Operating lease cost	$	1,609	$	1,319
Short-term lease cost	118		53
Variable lease cost	12		2
Sublease income	—		—
Total lease cost	$	1,739	$	1,374

The following table presents supplemental cash flow information related to leases for the periods ended:

	Three months ended March 31,
(in thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,653	$	1,292
ROUA obtained in exchange for operating lease liabilities	$	4,484	$	3,867

The following table presents the weighted average operating lease term and discount rate as of the period ended:

	March 31,
	2023		2022
Weighted-average remaining lease term (years)	8.3		8.8
Weighted-average discount rate	3.27	%	2.90	%

At March 31, 2023, future expected operating lease payments are as follows:

(in thousands)
Periods ending December 31,
2023	$	4,505
2024	5,798
2025	5,229
2026	4,688
2027	4,001
Thereafter	13,071
	37,292
Discount for present value of expected cash flows	(5,064)
Lease liability at March 31, 2023	$	32,228

Note 7 - Deposits

A summary of the balances of deposits follows:

(in thousands)	March 31, 2023		December 31, 2022
Noninterest-bearing demand	$	3,236,696	$	3,502,095
Interest-bearing demand	1,635,706		1,718,541
Savings	2,807,796		2,884,378
Time certificates, $250,000 or more	94,917		46,350
Other time certificates	250,750		177,649
Total deposits	$	8,025,865	$	8,329,013

Overdrawn deposit balances of $1.4 million and $1.8 million were classified as consumer loans at March 31, 2023 and December 31, 2022, respectively.

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Note 8 - Subordinated Debentures

The following table summarizes the terms and recorded balances of each debenture as of the date indicated (dollars in thousands):

				Coupon Rate (Variable) 3 mo. LIBOR +		As of March 31, 2023				As of December 31, 2022
Subordinated Debt Series	Maturity Date	Face Value				Current Coupon Rate		Recorded Book Value		Recorded Book Value
TriCo Cap Trust I	10/7/2033	$	20,619	3.05	%	7.88	%	$	20,619	$	20,619
TriCo Cap Trust II	7/23/2034	20,619		2.55	%	7.36	%	20,619		20,619
North Valley Trust II	4/24/2033	6,186		3.25	%	8.06	%	5,527		5,503
North Valley Trust III	7/23/2034	5,155		2.80	%	7.61	%	4,404		4,383
North Valley Trust IV	3/15/2036	10,310		1.33	%	6.19	%	7,446		7,393
VRB Subordinated - 6%	3/29/2029	16,000		Fixed		6.00	%	17,140		17,187
VRB Subordinated - 5%	8/27/2035	20,000		Fixed		5.00	%	25,296		25,336
		$	98,889					$	101,051	$	101,040

The VRB - 6% Subordinated Debt issuance has a fixed rate of 6.0% through March 29, 2024, then indexed to the three-month LIBOR plus 3.5% through the maturity date. The VRB - 5% Subordinated Debt issuance is fixed at 5.0% through August 27, 2025, then indexed to the three-month LIBOR plus 4.9% through the maturity date.

Note 9 - Commitments and Contingencies

The following table presents a summary of the Bank’s commitments and contingent liabilities:

(in thousands)	March 31, 2023		December 31, 2022
Financial instruments whose amounts represent risk:
Commitments to extend credit:
Commercial loans	$	726,505	$	656,705
Consumer loans	751,193		760,588
Real estate mortgage loans	473,894		458,896
Real estate construction loans	307,152		312,371
Standby letters of credit	24,070		26,599
Deposit account overdraft privilege	129,147		126,634

Note 10 - Shareholders’ Equity

Dividends Paid

The Bank paid to the Company cash dividends in the aggregate amounts of $18.2 million and $7.8 million during the three months ended March 31, 2023 and 2022, respectively. The Bank is regulated by the FDIC and the DFPI. Absent approval from the Commissioner of the DFPI, California banking laws generally limit the Bank’s ability to pay dividends to the lesser of (1) retained earnings or (2) net income for the last three fiscal years, less cash distributions paid during such period.

Stock Repurchase Plan

On February 25, 2021 the Board of Directors authorized the repurchase of up to 2.0 million shares of the Company's common stock (the 2021 Repurchase Plan), which approximated 6.7% of the shares outstanding as of the approval date. The actual timing of any share repurchases can be determined by the Company's management and therefore the total value of the shares to be purchased under the 2021 Repurchase Plan is subject to change. The 2021 Repurchase Plan has no expiration date (in accordance with applicable laws and regulations). During the three months ended March 31, 2023 and 2022, the Company repurchased 150,000 and zero shares with market values of $7.0 million and $0, respectively.

Stock Repurchased Under Equity Compensation Plans

The Company's shareholder-approved equity compensation plans permit employees to tender recently vested shares in lieu of cash for the payment of exercise price, if applicable, and the tax withholding on such shares. During the three months ended March 31, 2023 and 2022, exercising option holders tendered zero shares, respectively, of the Company’s common stock in connection with option exercises.

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Employees also tendered 12,381 and zero shares in connection with the tax withholding requirements of other share based awards during the three months ended March 31, 2023 and 2022, respectively. In total, shares of the Company's common stock tendered had market values of $0.62 million and $0 during the quarters ended March 31, 2023 and 2022, respectively. The tendered shares were retired. The market value of tendered shares is the last market trade price at closing on the day an option is exercised or the other share based award vests. Stock repurchased under equity incentive plans are not included in the total of stock repurchased under the 2021 Stock Repurchase Plans.

Note 11 - Stock Options and Other Equity-Based Incentive Instruments

On April 16, 2019, the Board of Directors adopted the 2019 Equity Incentive Plan (2019 Plan) which was approved by shareholders on May 21, 2019. The 2019 Plan allows for up to 1,500,000 shares to be issued in connection with equity-based incentives. The Company’s 2009 Equity Incentive Plan (2009 Plan) expired on March 26, 2019. While no new awards can be granted under the 2009 Plan, existing grants continue to be governed by the terms, conditions and procedures set forth in any applicable award agreement.

Stock option activity during the three months ended March 31, 2023 is summarized in the following table:

	Number of Shares	Weighted Average Exercise Price
Outstanding at December 31, 2022	15,500	$	21.27
Options granted	—	—
Options exercised	(4,000)	19.46
Options forfeited	—	—
Outstanding at March 31, 2023	11,500	$	21.90

The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of March 31, 2023:

	Currently Exercisable		Currently Not Exercisable		Total Outstanding
Number of options	11,500		—		11,500
Weighted average exercise price	$	21.90	$	—	$	21.90
Intrinsic value (in thousands)	$	226	$	—	$	226
Weighted average remaining contractual term (yrs.)	1.0		0 years		1.0

As of March 31, 2023 all options outstanding are fully vested and are expected to be exercised prior to expiration. The Company did not modify any option grants during 2022 or the three months ended March 31, 2023.

Activity related to restricted stock unit awards during the three months ended March 31, 2023 is summarized in the following table:

	Service Condition Vesting RSUs	Market Plus Service Condition Vesting RSUs
Outstanding at December 31, 2022	139,194	114,481
RSUs granted	—	—
RSUs added through dividend and performance credits	817	—
RSUs released	(22,118)	—
RSUs forfeited/expired	—	—
Outstanding at March 31, 2023	117,893	114,481

The 117,893 of service condition vesting RSUs outstanding as of March 31, 2023 include a feature whereby each RSU outstanding is credited with a dividend amount equal to any common stock cash dividend declared and paid, and the credited amount is divided by the closing price of the Company’s stock on the dividend payable date to arrive at an additional amount of RSUs outstanding under the original grant. The dividend credits follow the same vesting requirements as the RSU awards and are not considered participating securities. The 117,893 of service condition vesting RSUs outstanding as of March 31, 2023 are expected to vest, and be released, on a weighted-average basis, over the next 2.1 years. The Company expects to recognize $3.1 million of pre-tax compensation costs related to these service condition vesting RSUs between March 31, 2023 and their vesting dates. The Company did not modify any service condition vesting RSUs during 2022 or during the three months ended March 31, 2023.

The 114,481 of market plus service condition vesting RSUs outstanding as of March 31, 2023 are expected to vest, and be released, on a weighted-average basis, over the next 2.1 years. The Company expects to recognize $1.8 million of pre-tax compensation costs related to these RSUs between March 31, 2023 and their vesting dates. As of March 31, 2023, the number of market plus service condition vesting

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RSUs outstanding that will actually vest, and be released, may be reduced to zero or increased to 171,722 depending on the total return of the Company’s common stock versus the total return of an index of bank stocks from the grant date to the vesting date. The Company did not modify any market plus service condition vesting RSUs during 2022 or during the three months ended March 31, 2023.

Note 12 - Non-interest Income and Expense

The following table summarizes the Company’s non-interest income for the periods indicated:

	Three months ended March 31,
(in thousands)	2023		2022
ATM and interchange fees	$	6,344	$	6,243
Service charges on deposit accounts	3,431		3,834
Other service fees	1,166		882
Mortgage banking service fees	465		463
Change in value of mortgage servicing rights	(209)		274
Total service charges and fees	11,197		11,696
Increase in cash value of life insurance	802		638
Asset management and commission income	934		887
Gain on sale of loans	206		1,246
Lease brokerage income	98		158
Sale of customer checks	288		104
Loss on sale of investment securities	(164)		—
Gain (loss) on marketable equity securities	42		(137)
Other	232		504
Total other non-interest income	2,438		3,400
Total non-interest income	$	13,635	$	15,096

The components of non-interest expense were as follows:

	Three months ended March 31,
(in thousands)	2023		2022
Base salaries, net of deferred loan origination costs	$	23,000	$	18,216
Incentive compensation	2,895		2,583
Benefits and other compensation costs	6,668		5,972
Total salaries and benefits expense	32,563		26,771
Occupancy	4,160		3,575
Data processing and software	4,032		3,513
Equipment	1,383		1,333
Intangible amortization	1,656		1,228
Advertising	759		637
ATM and POS network charges	1,709		1,375
Professional fees	1,589		876
Telecommunications	595		521
Regulatory assessments and insurance	792		720
Merger and acquisition expense	—		4,032
Postage	299		228
Operational (gain) losses	435		(183)
Courier service	339		414
Gain on disposal of fixed assets	—		(1,078)
Other miscellaneous expense	3,483		2,485
Total other non-interest expense	21,231		19,676
Total non-interest expense	$	53,794	$	46,447

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Note 13 - Earnings Per Share

Basic earnings per share represent income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock units (RSUs), and are determined using the treasury stock method. Earnings per share have been computed based on the following:

	Three months ended March 31,
(in thousands)	2023		2022
Net income	$	35,833	$	20,374
Average number of common shares outstanding	33,296		30,050
Effect of dilutive stock options and restricted stock	142		152
Average number of common shares outstanding used to calculate diluted earnings per share	33,438		30,202
Options excluded from diluted earnings per share because of their antidilutive effect	—		—

Note 14 – Comprehensive Income (Loss)

Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the balance sheet identified as accumulated other comprehensive income (AOCI), such items, along with net income, are components of other comprehensive income (loss) (OCI).

The components of other comprehensive income (loss) and related tax effects are as follows:

	Three months ended March 31,
(in thousands)	2023		2022
Unrealized holding gains (losses) on available for sale securities before reclassifications	$	34,540	$	(111,302)
Amounts reclassified out of AOCI:
Realized loss on debt securities	164		—
Unrealized holding gains (losses) on available for sale securities after reclassifications	34,704		(111,302)
Tax effect	(10,260)		32,905
Unrealized holding gains (losses) on available for sale securities, net of tax	24,444		(78,397)
Change in unfunded status of the supplemental retirement plans before reclassifications	114		63
Amounts reclassified out of AOCI:
Amortization of prior service cost	—		(7)
Amortization of actuarial losses	(114)		2
Total amounts reclassified out of accumulated other comprehensive (loss) income	(114)		(5)
Change in unfunded status of the supplemental retirement plans after reclassifications	—		58
Tax effect	—		—
Change in unfunded status of the supplemental retirement plans, net of tax	—		58
Change in joint beneficiary agreement liability before reclassifications	—		—
Tax effect	—		—
Change in joint beneficiary agreement liability before reclassifications, net of tax	—		—
Total other comprehensive income (loss)	$	24,444	$	(78,339)

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The components of accumulated other comprehensive loss, included in shareholders’ equity, are as follows:

(in thousands)	March 31, 2023		December 31, 2022
Net unrealized gain on available for sale securities	$	(255,845)	$	(290,549)
Tax effect	75,637		85,897
Unrealized holding gain on available for sale securities, net of tax	(180,208)		(204,652)
Unfunded status of the supplemental retirement plans	13,901		13,901
Tax effect	(4,110)		(4,110)
Unfunded status of the supplemental retirement plans, net of tax	9,791		9,791
Joint beneficiary agreement liability	956		956
Tax effect	—		—
Joint beneficiary agreement liability, net of tax	956		956
Accumulated other comprehensive loss	$	(169,461)	$	(193,905)

Note 15 - Fair Value Measurement

The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In estimating fair value, the Company utilizes valuation techniques that are consistent with the market approach, income approach, and/or the cost approach. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset and the risk of nonperformance. Marketable equity securities, debt securities available-for-sale, loans held for sale, and mortgage servicing rights are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application impairment write-downs of individual assets.

The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observable nature of the assumptions used to determine fair value. These levels are:

Level 1 - Valuation is based upon quoted prices for identical instruments traded in active markets.

Level 2 - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3 - Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.

Marketable equity securities and debt securities available for sale - Marketable equity securities and debt securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include mortgage-backed securities issued by government sponsored entities, municipal bonds and corporate debt securities. The Company had no securities classified as Level 3 during any of the periods covered in these financial statements.

Loans held for sale - Loans held for sale are carried at the lower of cost or fair value. The fair value of loans held for sale is based on what secondary markets are currently offering for loans with similar characteristics. As such, we classify those loans subjected to recurring fair value adjustments as Level 2.

Individually evaluated loans - Loans are not recorded at fair value on a recurring basis. However, from time to time, certain loans have individual risk characteristics not consistent with a pool of loans and is individually evaluated for credit reserves. Loans for which it is probable that payment of interest and principal will not be made in accordance with the original contractual terms of the loan agreement are typically individually evaluated. The fair value of these loans are estimated using one of several methods, including collateral value, fair value of similar debt, enterprise value, liquidation value and discounted cash flows. Those loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. Loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. When the fair value of the collateral is based on an observable market price or a current appraised value which uses substantially observable data, the Company records the loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value, or the appraised value contains a significant unobservable assumption, such as deviations from

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comparable sales, and there is no observable market price, the Company records the loan as nonrecurring Level 3.

Foreclosed assets - Foreclosed assets include assets acquired through, or in lieu of, loan foreclosure. Foreclosed assets are held for sale and are initially recorded at fair value at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, management periodically performs valuations and the assets are carried at the lower of carrying amount or fair value less cost to sell. When the fair value of foreclosed assets is based on an observable market price or a current appraised value which uses substantially observable data, the Company records the loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value, or the appraised value contains a significant unobservable assumption, such as deviations from comparable sales, and there is no observable market price, the Company records the foreclosed asset as nonrecurring Level 3. Revenue and expenses from operations and changes in the valuation allowance are included in other non-interest expense.

Mortgage servicing rights - Mortgage servicing rights are carried at fair value. A valuation model, which utilizes a discounted cash flow analysis using a discount rate and prepayment speed assumptions is used in the computation of the fair value measurement. While the prepayment speed assumption is currently quoted for comparable instruments, the discount rate assumption currently requires a significant degree of management judgment and is therefore considered an unobservable input. As such, the Company classifies mortgage servicing rights subjected to recurring fair value adjustments as Level 3.

The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands):

Fair value at March 31, 2023	Total		Level 1		Level 2		Level 3
Marketable equity securities	$	2,640	$	2,640
Debt securities available for sale:
Obligations of U.S. government corporations and agencies	1,357,435				1,357,435
Obligations of states and political subdivisions	279,900				279,900
Corporate bonds	5,738				5,738
Asset backed securities	427,364				427,364
Non-agency mortgage backed securities	335,375				335,375
Loans held for sale	226				226
Mortgage servicing rights	6,553						6,553
Total assets measured at fair value	$	2,415,231	$	2,640	$	2,406,038	$	6,553

Fair value at December 31, 2022	Total		Level 1		Level 2		Level 3
Marketable equity securities	$	2,598	$	2,598	$	—	$	—
Debt securities available for sale:
Obligations of U.S. government corporations and agencies	1,372,769		—		1,372,769		—
Obligations of states and political subdivisions	293,205		—		293,205		—
Corporate bonds	5,751		—		5,751		—
Asset backed securities	439,767		—		439,767		—
Non-agency mortgage backed securities	340,946				340,946
Loans held for sale	1,846		—		1,846		—
Mortgage servicing rights	6,712		—		—		6,712
Total assets measured at fair value	$	2,463,594	$	2,598	$	2,454,284	$	6,712

Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally corresponds with the Company’s quarterly valuation process. There were no transfers between any levels during the three months ended March 31, 2023 or the year ended December 31, 2022.

The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the time periods indicated. Had there been any transfer into or out of Level 3 during the time periods indicated, the amount included in the “Transfers into (out of) Level 3” column would represent the beginning balance of an item in the period (interim quarter) during which it was transferred (in thousands):

Three months ended March 31,	Beginning Balance		Transfers into (out of) Level 3	Change Included in Earnings		Issuances		Ending Balance
2023: Mortgage servicing rights	$	6,712		$	(209)	$	50	$	6,553
2022: Mortgage servicing rights	$	5,874	—	$	274	$	257	$	6,405

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Three months ended March 31,

The key unobservable inputs used in determining the fair value of mortgage servicing rights are mortgage prepayment speeds and the discount rate used to discount cash projected cash flows. Generally, any significant increases in the mortgage prepayment speed and discount rate utilized in the fair value measurement of the mortgage servicing rights will result in a negative fair value adjustments (and decrease in the fair value measurement). Conversely, a decrease in the mortgage prepayment speed and discount rate will result in a positive fair value adjustment (and increase in the fair value measurement).

The following table presents quantitative information about recurring Level 3 fair value measurements at March 31, 2023 and December 31, 2022:

As of March 31, 2023:	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Mortgage Servicing Rights	$	6,553	Discounted cash flow	Constant prepayment rate	121% - 216%; 130.0%
				Discount rate	10% - 14%; 12%
As of December 31, 2022:
Mortgage Servicing Rights	$	6,712	Discounted cash flow	Constant prepayment rate	116% - 226.0%; 127.0%
				Discount rate	10% - 14%; 12%

The tables below present the recorded investment in assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated, that had a write-down or an additional allowance provided during the periods indicated (in thousands):

March 31, 2023	Total		Level 1	Level 2	Level 3
Fair value:
Individually evaluated loans	$	1,223	—	—	$	1,223

December 31, 2022	Total		Level 1	Level 2	Level 3
Fair value:
Individually evaluated loans	$	5,719	—	—	$	5,719
Foreclosed assets	311		—	—	311
Total assets measured at fair value	$	6,030	—	—	$	6,030

The tables below present the losses resulting from non-recurring fair value adjustments of assets and liabilities for the periods indicated (in thousands):

	Three months ended March 31,
	2023		2022
Individually evaluated loans	$	(277)	$	(615)
Foreclosed assets	—		(294)
Total losses from non-recurring measurements	$	(277)	$	(909)

The individually evaluated loan amounts above represent collateral dependent loans that have been adjusted to fair value. When the Company identifies a collateral dependent loan with unique risk characteristics, the Company evaluates the need for an allowance using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals. If the Company determines that the value of the loan is less than the recorded investment in the loan, the Company recognizes this impairment and adjust the carrying value of the loan to fair value through the allowance for credit losses. The loss represents charge-offs or impairments on collateral dependent loans for fair value adjustments based on the fair value of collateral. The carrying value of loans fully charged-off is zero.

The foreclosed assets amount above represents impaired real estate that has been adjusted to fair value. Foreclosed assets represent real estate which the Company has taken control of in partial or full satisfaction of loans. At the time of foreclosure, other real estate owned is recorded at fair value less costs to sell, which becomes the property’s new basis. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for credit losses. After foreclosure, management periodically performs valuations such that the real estate is carried at the lower of its new cost basis or fair value, net of estimated costs to sell. Fair value adjustments on other real estate owned are recognized within net loss on real estate owned. The loss represents impairments on real estate owned for fair value adjustments based on the fair value of the real estate.

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The Company’s property appraisals are primarily based on the sales comparison approach and income approach methodologies, which consider recent sales of comparable properties, including their income generating characteristics, and then make adjustments to reflect the general assumptions that a market participant would make when analyzing the property for purchase. These adjustments may increase or decrease an appraised value and can vary significantly depending on the location, physical characteristics and income producing potential of each property. Additionally, the quality and volume of market information available at the time of the appraisal can vary from period to period and cause significant changes to the nature and magnitude of comparable sale adjustments. Given these variations, comparable sale adjustments are generally not a reliable indicator for how fair value will increase or decrease from period to period. Under certain circumstances, management discounts are applied based on specific characteristics of an individual property.

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at March 31, 2023:

March 31, 2023	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Individually evaluated loans	$	1,223	Sales comparison approach Income approach	Adjustment for differences between comparable sales; Capitalization rate	Not meaningful N/A

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2022:

December 31, 2022	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Individually evaluated loans	$	5,719	Sales comparison approach Income approach	Adjustment for differences between comparable sales; Capitalization rate	Not meaningful N/A
Foreclosed assets (Residential real estate)	$	311	Sales comparison approach	Adjustment for differences between comparable sales	Not meaningful N/A

Fair values for financial instruments are management’s estimates of the values at which the instruments could be exchanged in a transaction between willing parties. The Company uses the exit price notion when measuring the fair value of financial instruments. These estimates are subjective and may vary significantly from amounts that would be realized in actual transactions. In addition, other significant assets are not considered financial assets including, any mortgage banking operations, deferred tax assets, and premises and equipment. Further, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on the fair value estimates and have not been considered in any of these estimates.

	March 31, 2023				December 31, 2022
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Level 1 inputs:
Cash and due from banks	$	77,933	$	77,933	$	96,323	$	96,323
Cash at Federal Reserve and other banks	32,402		32,402		10,907		10,907
Level 2 inputs:
Securities held to maturity	152,067		142,135		160,983		149,938
Restricted equity securities	17,250		N/A		17,250		N/A
Level 3 inputs:
Loans, net	6,314,014		6,073,450		6,344,767		6,153,155
Financial liabilities:
Level 2 inputs:
Deposits	8,025,865		8,018,642		8,329,013		8,321,517
Other borrowings	434,140		434,140		264,605		264,605
Level 3 inputs:
Junior subordinated debt	101,051		94,442		101,040		92,613

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(in thousands)	Contract Amount		Fair Value		Contract Amount		Fair Value
Off-balance sheet:
Level 3 inputs:
Commitments	$	2,258,744	$	22,587	$	2,188,560	$	21,886
Standby letters of credit	24,070		241		26,599		266
Overdraft privilege commitments	129,147		1,291		126,634		1,266

Note 16 - Regulatory Matters

The Company is subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios (set forth in the table below) of total, Tier 1, and common equity Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. The following tables present actual and required capital ratios as of March 31, 2023 and December 31, 2022 for the Company and the Bank under applicable Basel III Capital Rules. The minimum capital amounts presented include the minimum required capital levels as of March 31, 2023 and December 31, 2022 based on the then phased-in provisions of the Basel III Capital Rules. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules.

	Actual				Required for Capital Adequacy Purposes				Required to be Considered Well Capitalized
As of March 31, 2023:	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
Total Capital (to Risk Weighted Assets):
Consolidated	$	1,134,613	14.50	%	$	821,668	10.50	%	N/A		N/A
Tri Counties Bank	$	1,127,852	14.42	%	$	821,470	10.50	%	$	782,352	10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	994,155	12.70	%	$	665,160	8.50	%	N/A		N/A
Tri Counties Bank	$	1,029,875	13.16	%	$	665,000	8.50	%	$	625,882	8.00	%
Common equity Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	937,300	11.98	%	$	547,779	7.00	%	N/A		N/A
Tri Counties Bank	$	1,029,875	13.16	%	$	547,647	7.00	%	$	508,529	6.50	%
Tier 1 Capital (to Average Assets):
Consolidated	$	994,155	10.20	%	$	393,017	4.00	%	N/A		N/A
Tri Counties Bank	$	1,029,875	10.57	%	$	392,873	4.00	%	$	491,091	5.00	%

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	Actual				Required for Capital Adequacy Purposes				Required to be Considered Well Capitalized
As of December 31, 2022:	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
Total Capital (to Risk Weighted Assets):
Consolidated	$	1,115,257	14.19	%	$	825,234	10.50	%	N/A		N/A
Tri Counties Bank	$	1,107,941	14.10	%	$	825,039	10.50	%	$	785,751	10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	974,325	12.40	%	$	668,047	8.50	%	N/A		N/A
Tri Counties Bank	$	1,009,577	12.85	%	$	667,888	8.50	%	$	628,601	8.00	%
Common equity Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	917,565	11.67	%	$	550,156	7.00	%	N/A		N/A
Tri Counties Bank	$	1,009,577	12.85	%	$	550,026	7.00	%	$	510,738	6.50	%
Tier 1 Capital (to Average Assets):
Consolidated	$	974,325	10.14	%	$	384,337	4.00	%	N/A		N/A
Tri Counties Bank	$	1,009,577	10.51	%	$	384,146	4.00	%	$	480,183	5.00	%

As of March 31, 2023 and December 31, 2022, capital levels at the Company and the Bank exceed all capital adequacy requirements under the Basel III Capital Rules. Also, at March 31, 2023 and December 31, 2022, the Bank’s capital levels exceeded the minimum amounts necessary to be considered well capitalized under the current regulatory framework for prompt corrective action.

The Basel III Capital Rules require for all banking organizations to maintain a capital conservation buffer above the minimum risk-based capital requirements in order to avoid certain limitations on capital distributions, stock repurchases and discretionary bonus payments to executive officers. The capital conservation buffer is exclusively composed of common equity tier 1 capital, and it applies to each of the risk-based capital ratios but not the leverage ratio. At March 31, 2023, the Company and the Bank are in compliance with the capital conservation buffer requirement.

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Item 2.    Management’s Discussion and Analysis of Financial Condition and Results of Operations

FORWARD-LOOKING STATEMENTS

Cautionary Statements Regarding Forward-Looking Information

The statements contained herein that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond our control. There can be no assurance that future developments affecting us will be the same as those anticipated by management. We caution readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. These risks and uncertainties include, but are not limited to, the following: the strength of the United States economy in general and the strength of the local economies in which we conduct operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation, interest rate, market and monetary fluctuations impacts on the Company's business condition and financial operating results; the impact of changes in financial services industry policies, laws and regulations; regulatory restrictions on our ability to successfully market and price our products to consumers; technological changes; weather, natural disasters and other catastrophic events that may or may not be caused by climate change and their effects on economic and business environments in which the Company operates; the continuing adverse impact on the U.S. economy, including the markets in which we operate due to the lingering effects of the COVID-19 global pandemic; the impact of a slowing U.S. economy and potentially increased unemployment on the performance of our loan portfolio, the market value of our investment securities, the availability of, and cost of, sources of funding and the demand for our products; adverse developments with respect to U.S. or global economic conditions and other uncertainties, including the impact of supply chain disruptions, commodities prices, inflationary pressures and labor shortages on the economic recovery and our business; the impacts of international hostilities, terrorism or geopolitical events; the quality and quantity of our deposits; adverse developments in the financial services industry generally such as the recent bank failures and any related impact on depositor behavior or investor sentiment; risks related to the sufficiency of liquidity; the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; the costs or effects of mergers, acquisitions or dispositions we may make, as well as whether we are able to obtain any required governmental approvals in connection with any such mergers, acquisitions or dispositions, or identify and complete favorable transactions in the future, and/or realize the contemplated financial business benefits associated with any such activities; the regulatory and financial impacts associated with exceeding $10 billion in total assets; the negative impact on our reputation and profitability in the event customers experience economic harm or in the event that regulatory violations are identified; the ability to execute our business plan in new lending markets; the future operating or financial performance of the Company, including our outlook for future growth and changes in the level and direction of our nonperforming assets and charge-offs; the appropriateness of the allowance for credit losses, including the timing and effects of the implementation of the current expected credit losses model; any deterioration in values of California real estate, both residential and commercial; the effectiveness of the Company's asset management activities in improving, resolving or liquidating lower-quality assets; the effect of changes in the financial performance and/or condition of our borrowers; changes in accounting standards and practices; possible other-than-temporary impairment of securities held by us due to changes in credit quality or rates; changes in consumer spending, borrowing and savings habits; our ability to attract and maintain deposits and other sources of liquidity; the effects of changes in the level or cost of checking or savings account deposits on our funding costs and net interest margin; our noninterest expense and the efficiency ratio; competition and innovation with respect to financial products and services by banks, financial institutions and non-traditional providers including retail businesses and technology companies; the challenges of attracting, integrating and retaining key employees; the costs and effects of litigation and of unexpected or adverse outcomes in such litigation; the vulnerability of the Company's operational or security systems or infrastructure, the systems of third-party vendors or other service providers with whom the Company contracts, and the Company's customers to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and data/security breaches and the cost to defend against and respond to such incidents; increased data security risks due to work from home arrangements and email vulnerability; failure to safeguard personal information; changes to U.S. tax policies, including our effective income tax rate; the effect of a fall in stock market prices on our brokerage and wealth management businesses; the transition away from the London Interbank Offered Rate toward new interest rate benchmarks; and our ability to manage the risks involved in the foregoing. Additional factors that could cause results to differ materially from those described above can be found in our Annual Report on Form 10-K for the year ended December 31, 2022, which has been filed with the Securities and Exchange Commission (the “SEC”) and all subsequent filings with the SEC under Sections 13(a), 13(c), 14, and 15(d) of the Securities Act of 1934, as amended. Such filings are also available in the “Investor Relations” section of our website, https://www.tcbk.com/investor-relations and in other documents we file with the SEC. Annualized, pro forma, projections and estimates are not forecasts and may not reflect actual results. We undertake no obligation (and expressly disclaim any such obligation) to update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

General

As TriCo Bancshares (referred to in this report as “we”, “our” or the “Company”) has not commenced any business operations independent of Tri Counties Bank (the “Bank”), the following discussion pertains primarily to the Bank. Average balances, including such balances used in calculating certain financial ratios, are generally comprised of average daily balances for the Company. Within Management’s Discussion and Analysis of Financial Condition and Results of Operations, interest income, net interest income, and net interest yield are generally presented on a FTE basis. The Company believes the use of these non-generally accepted accounting principles (non-GAAP) measures provides additional clarity in assessing its results, and the presentation of these measures on a FTE basis is a common practice within the banking industry. Interest income and net interest income are shown on a non-FTE basis in the Part I - Financial Information section of this Form 10-Q, and a reconciliation of the FTE and non-FTE presentations is provided below in the discussion of net interest income.

Critical Accounting Policies and Estimates

The Company’s discussion and analysis of its financial condition and results of operations are based upon the Company’s consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of

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America. The preparation of these financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, including those that materially affect the financial statements and are related to the adequacy of the allowance for loan losses, investments, mortgage servicing rights, fair value measurements, retirement plans and intangible assets. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. A detailed discussion related to the Company’s accounting policies including those related to estimates on the allowance for credit losses related to loans and investment securities, and impairment of intangible assets, can be found in Note 1 of the consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2022.

Geographical Descriptions

For the purpose of describing the geographical location of the Company’s operations, the Company has defined northern California as that area of California north of, and including, Stockton to the east and San Jose to the west; central California as that area of the state south of Stockton and San Jose, to and including, Bakersfield to the east and San Luis Obispo to the west; and southern California as that area of the state south of Bakersfield and San Luis Obispo.

Financial Highlights

Performance highlights and other developments for the Company as of or for the three months ended March 31, 2023 included the following:

•For the quarter ended March 31, 2023, the Company’s return on average assets was 1.47%, while the return on average equity was 13.36%.

•Net income was $35.8 million compared to $36.3 million in the trailing quarter, and compared to $20.4 million in the same quarter of the prior year; Pre-tax pre-provision net revenue was $53.2 million compared to $55.3 million in the trailing quarter, and compared to $36.6 million in the same quarter of the prior year.

•Deposit balances for the quarter ended March 31, 2023, decreased by $303.1 million as compared to December 31, 2022. The deposit contraction during the quarter resulted in the loan to deposit ratio increasing to 80.0% as of March 31, 2023, as compared to 77.4% as of the trailing quarter. The Bank did not utilize brokered deposits or FRB borrowing facilities during the 2022 or 2023 periods.

•The efficiency ratio was 50.3% for the three months ended March 31, 2023, as compared to 51.8% for the trailing quarter.

•The provision for credit losses for loans and debt securities was approximately $4.2 million during the quarter ended March 31, 2023, as compared to a provision for credit losses of $4.2 million during the trailing quarter ended December 31, 2022, and a provision for credit losses of $8.3 million for the three-month period ended March 31, 2022.

•The allowance for credit losses to total loans was 1.69% as of March 31, 2023, compared to 1.64% as of the trailing quarter end, and 1.64% as of March 31, 2022. Non-performing assets to total assets were 0.20% at March 31, 2023, as compared to 0.25% as of December 31, 2022, and 0.17% at March 31, 2022.

•Average yields on earning assets were 4.64%, an increase of 12 basis points over the 4.52% in the trailing quarter and an increase of 118 basis points over March 31, 2022; net interest margin was 4.21%, a change of 13 basis points from 4.34% in the trailing quarter and a change of 82 basis points from 3.39% as of quarter ended March 31, 2022.

•Balance sheet flexibility anchored in readily accessible sources of liquidity including undrawn borrowing capacities, on-balance sheet cash and unpledged investment securities totaling in excess of $4.4 billion

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TRICO BANCSHARES

Financial Summary

(In thousands, except per share amounts; unaudited)

	Three months ended March 31,
	2023			2022
Net interest income	$	93,336		$	67,924
Provision for credit losses	(4,195)			(8,330)
Non-interest income	13,635			15,096
Non-interest expense	(53,794)			(46,447)
Provision for income taxes	(13,149)			(7,869)
Net income	$	35,833		$	20,374
Per Share Data:
Basic earnings per share	$	1.08		$	0.68
Diluted earnings per share	$	1.07		$	0.67
Dividends paid	$	0.30		$	0.25
Book value at period end	$	32.84		$	32.78
Average common shares outstanding	33,296			30,050
Average diluted common shares outstanding	33,438			30,202
Shares outstanding at period end	33,195			33,838
At period end:
Loans	$	6,422,421		$	5,851,975
Total investment securities	$	2,577,769		$	2,569,706
Total assets	$	9,842,394		$	10,118,328
Total deposits	$	8,025,865		$	8,714,477
Other borrowings	$	434,140		$	36,184
Shareholders’ equity	$	1,090,245		$	1,109,182
Financial Ratios:
During the period:
Return on average assets (annualized)	1.47		%	0.94		%
Return on average equity (annualized)	13.36		%	8.19		%
Net interest margin(1) (annualized)	4.21		%	3.39		%
Efficiency ratio	50.29		%	55.95		%
Average equity to average assets	11.00		%	11.50		%
At end of period:
Equity to assets	11.08		%	10.96		%
Total capital to risk-adjusted assets	14.50		%	14.96		%

(1) Fully Taxable Equivalent (FTE)

The Company announced net income of $35.8 million for the quarter ended March 31, 2023, compared to $36.3 million during the trailing quarter ended December 31, 2022, and $20.4 million during the quarter ended March 31, 2022. Diluted earnings per share were $1.07 for the first quarter of 2023, compared to $1.09 for the fourth quarter of 2022 and $0.67 during the first quarter of 2022..

Results of Operations

The following discussion and analysis is designed to provide a better understanding of the significant changes and trends related to the Company and the Bank’s financial condition, operating results, asset and liability management, liquidity and capital resources and should be read in conjunction with the Condensed Consolidated Financial Statements of the Company and the Notes thereto located at Item 1 of this report.

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Net Interest Income

The Company’s primary source of revenue is net interest income, or the difference between interest income on interest-earning assets and interest expense on interest-bearing liabilities. Following is a summary of the components of FTE net income for the periods indicated

	Three months ended
(in thousands)	March 31, 2023			March 31, 2022			Change			% Change
Interest income	$	102,907		$	69,195		$	33,712		48.7	%
Interest expense	(9,571)			(1,271)			(8,300)			653.0	%
Fully tax-equivalent adjustment (FTE) (1)	392			283			109			38.5	%
Net interest income (FTE)	$	93,728		$	68,207		$	25,521		37.4	%
Net interest margin (FTE)	4.21		%	3.39		%
Acquired loans discount accretion, net:
Amount (included in interest income)	$	1,397		$	1,323		$	74		5.6	%
Net interest margin less effect of acquired loan discount accretion(1)	4.15		%	3.32		%	0.83		%
PPP loans yield, net:
Amount (included in interest income)	$	5		$	1,097		$	(1,092)		(99.5)	%
Net interest margin less effect of PPP loan yield (1)	4.21		%	3.36		%	0.85		%
Acquired loans discount accretion and PPP loan yield, net: (1)
Amount (included in interest income)	$	1,402		$	2,420		$	(1,018)		(42.1)	%
Net interest margin less effect of acquired loan discount accretion and PPP loan yield (1)	4.15		%	3.29		%	0.86		%

(1)Certain information included herein is presented on a FTE basis and/or to present additional financial details which may be desired by users of this financial information. The Company believes the use of this non-generally accepted accounting principles (non-GAAP) measure provides additional clarity in assessing its results, and the presentation of these measures is a common practice within the banking industry.

Loans may be acquired at a premium or discount to par value, in which case, the premium is amortized (subtracted from) or the discount is accreted (added to) interest income over the remaining life of the loan. Generally, as time goes on, the dollar impact of loan discount accretion and loan premium amortization decrease as the purchased loans mature or pay off early. Upon the early pay off of a loan, any remaining unaccreted discount or unamortized premium is immediately taken into interest income; and as loan payoffs may vary significantly from quarter to quarter, so may the impact of discount accretion and premium amortization on interest income. The prepayment speed of portfolio loans, inclusive of those acquired at a premium or discount, is heavily influenced by the rate of change in interest rates. During the three months ended March 31, 2023, December 31, 2022, and March 31, 2022, purchased loan discount accretion was $1.4 million, $1.8 million, and $1.3 million, respectively.

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Summary of Average Balances, Yields/Rates and Interest Differential

The following table presents, for the three month periods indicated, information regarding the Company’s consolidated average assets, liabilities and shareholders’ equity, the amounts of interest income from average interest-earning assets and resulting yields, and the amount of interest expense paid on interest-bearing liabilities. Average loan balances include nonperforming loans. Interest income includes proceeds from loans on nonaccrual loans only to the extent cash payments have been received and applied to interest income. Yields on securities and certain loans have been adjusted upward to reflect the effect of income thereon exempt from federal income taxation at the current statutory tax rate (dollars in thousands).

	For the three months ended
	March 31, 2023						March 31, 2022
	Average Balance		Interest Income/ Expense		Rates Earned /Paid		Average Balance		Interest Income/ Expense		Rates Earned /Paid
Assets:
Loans, excluding PPP	$	6,412,386	$	82,410	5.21	%	$	4,937,865	$	56,648	4.65	%
PPP loans	1,572		5		1.29	%	50,695		1,097		8.78	%
Investment securities - taxable	2,398,235		18,916		3.20	%	2,313,204		10,223		1.79	%
Investment securities - nontaxable(1)	189,050		1,699		3.64	%	143,873		1,225		3.45	%
Total investments	2,587,285		20,615		3.23	%	2,457,077		11,448		1.89	%
Cash at Federal Reserve and other banks	26,818		269		4.07	%	707,563		285		0.16	%
Total interest-earning assets	9,028,061		103,299		4.64	%	8,153,200		69,478		3.46	%
Other assets	850,866						625,056
Total assets	$	9,878,927					$	8,778,256
Liabilities and shareholders’ equity:
Interest-bearing demand deposits	$	1,673,114	$	387	0.09	%	$	1,597,309	$	84	0.02	%
Savings deposits	2,898,463		4,154		0.58	%	2,571,023		327		0.05	%
Time deposits	274,805		604		0.89	%	301,499		268		0.36	%
Total interest-bearing deposits	4,846,382		5,145		0.43	%	4,469,831		679		0.06	%
Other borrowings	277,632		2,809		4.10	%	44,731		5		0.05	%
Junior subordinated debt	101,044		1,617		6.49	%	60,971		587		3.90	%
Total interest-bearing liabilities	5,225,058		9,571		0.74	%	4,575,533		1,271		0.11	%
Noninterest-bearing deposits	3,372,194						3,052,099
Other liabilities	194,202						141,400
Shareholders’ equity	1,087,473						1,009,224
Total liabilities and shareholders’ equity	$	9,878,927					$	8,778,256
Net interest spread(2)					3.90	%					3.35	%
Net interest income and interest margin(3)			$	93,728	4.21	%			$	68,207	3.39	%

(1)Fully taxable equivalent (FTE). All yields and rates are calculated using specific day counts for the period and year as applicable.

(2)Net interest spread represents the average yield earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(3)Net interest margin is computed by calculating the difference between interest income and interest expense, divided by the average balance of interest-earning assets, then annualized based on the number of days in the given period.

Net interest income (FTE) during the three months ended March 31, 2023, decreased $5.6 million or 5.6% to $93.7 million compared to $99.3 million during the three months ended December 31, 2022. In addition, net interest margin declined 13 basis points to 4.21%, compared to the trailing quarter. The decrease in net interest income is primarily attributed to an additional $3.0 million in deposit interest expense and $2.4 million in additional interest expense on other borrowings, both due to increases in interest rates as compared to the trailing quarter, respectively. Total interest income was effectively unchanged as compared to the trailing quarter, down $0.1 million or 0.1%.

As compared to the same quarter in the prior year, average loan yields, excluding PPP, increased 56 basis points from 4.65% during the three months ended March 31, 2022, to 5.21% during the three months ended March 31, 2023. The accretion of discounts from acquired loans added 9 and 7 basis points to loan yields during the quarters ended March 31, 2023 and March 31, 2022, respectively. The rates paid on interest bearing deposits increased by 25 basis points during the quarter ended March 31, 2023, compared to the trailing quarter. The cost of interest-bearing deposits increased by 37 basis points between the quarter ended March 31, 2023, and the same quarter of the prior year. In addition, the level of noninterest-bearing deposits decreased by $290.3 million quarter over quarter but remains $320.1 million above quarter ended March 31, 2022. As of March 31, 2023, the ratio of average total noninterest-bearing deposits to total average deposits was 41.0%, as compared to 42.9% and 40.6% at December 31, 2022 and March 31, 2022, respectively.

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Summary of Changes in Interest Income and Expense due to Changes in Average Asset and Liability Balances and Yields Earned and Rates Paid

The following table sets forth, for the period identified, a summary of the changes in interest income and interest expense from changes in average asset and liability balances (volume) and changes in average interest rates for the periods indicated. Changes not solely attributable to volume or rates have been allocated in proportion to the respective volume and rate components.

	Three months ended March 31, 2023 compared with three months ended March 31, 2022
(in thousands)	Volume		Rate		Total
Increase (decrease) in interest income:
Loans, including PPP	$	16,063	$	8,607	$	24,670
Investment securities	771		8,396		9,167
Cash at Federal Reserve and other banks	(272)		256		(16)
Total interest-earning assets	16,562		17,259		33,821
Increase (decrease) in interest expense:
Interest-bearing demand deposits	4		299		303
Savings deposits	41		3,786		3,827
Time deposits	(24)		360		336
Other borrowings	29		2,775		2,804
Junior subordinated debt	391		639		1,030
Total interest-bearing liabilities	441		7,859		8,300
Increase (decrease) in net interest income	$	16,121	$	9,400	$	25,521

The following commentary regarding net interest income, interest income and interest expense may be best understood while referencing the Summary of Average Balances, Yields/Rates and Interest Differential and the Summary of Changes in Interest Income and Expense due to Changes in Average Asset and Liability Balances and Yields Earned and Rates Paid shown above.

Net interest income (FTE) during the three months ended March 31, 2023 increased $25.5 million to $93.7 million compared to $68.2 million during the three months ended March 31, 2022. The overall increase in net interest income (FTE) was due to increases in both average investment and loan balances, which resulted in improvements totaling $0.8 million and $16.1 million, respectively, and higher yields further improving those earnings by $8.4 million and $8.6 million, respectively. Increasing interest rates boosted interest expenses on on interest-bearing liabilities, most significantly deposits and other borrowings, resulting in a net increase of $3.8 million and $2.8 million, respectively.

Asset Quality and Credit Loss Provisioning

During the three months ended March 31, 2023, the Company recorded a provision for credit losses of $4.2 million, as compared to $4.2 million during the trailing quarter, and $8.3 million during the first quarter of 2022.

The following table presents details of the provision for credit losses for the periods indicated:

	Three months ended
(dollars in thousands)	March 31, 2023		December 31, 2022		March 31, 2022
Addition to (reversal of) allowance for credit losses	$	4,315	$	4,300	$	8,205
Addition to (reversal of) reserve for unfunded loan commitments	(120)		(55)		125
Total provision for (reversal of) credit losses	$	4,195	$	4,245	$	8,330

The allowance for credit losses (ACL) was $108.4 million as of March 31, 2023, a net increase of $2.7 million over the immediately preceding quarter. The addition to the allowance for credit losses of $4.3 million during the quarter was the net effect of changes in required reserves due to qualitative factors, individually analyzed credits and quantitative reserves under the cohort model. On a comparative basis, the provision for credit losses of $8.2 million during the three months ended March 31, 2022 was largely the result of day 1 required reserves from loans acquired in connection with the Valley Republic Bank merger in the same period. For the current quarter, the qualitative components of the ACL resulted in a net increase in required reserves totaling approximately $4.7 million due to increased uncertainty in US economic policy, and the ramifications on local and statewide unemployment rates. Meanwhile, the quantitative component of the ACL decreased reserve requirements by approximately $1.9 million over the trailing quarter due to a decline in needed specific reserves on loans.

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The following table presents the activity in the allowance for credit losses on loans for the periods indicated:

	Three months ended
(dollars in thousands)	March 31, 2023		March 31, 2022
Balance, beginning of period	$	105,680	$	85,376
ACL at acquisition for PCD loans	—		2,037
Provision for (reversal of) credit losses	4,315		8,205
Loans charged-off	(1,758)		(743)
Recoveries of previously charged-off loans	170		1,174
Balance, end of period	$	108,407	$	96,049

The Company utilizes a forecast period of approximately eight quarters and obtains the forecast data from publicly available sources as of the balance sheet date. This forecast data continues to evolve and included improving shifts in the magnitude of changes for both the unemployment and GDP factors leading up to the balance sheet date, particularly CA unemployment trends. As compared to historical norms, inflation remains elevated from continued disruptions in the supply chain, wage pressures, and higher living costs such as housing and food prices Despite the expected continued benefit to the net interest income of the Company from the elevated rate environment, Management notes the rapid intervals of rate increases by the Federal Reserve and flattening or inversion of the yield curve, have boosted expectations of the US entering a recession within 12 months. As a result, management continues to believe that certain credit weakness are likely present in the overall economy and that it is appropriate to cautiously maintain a reserve level that incorporates such risk factors.

Loans past due 30 days or more increased by $2.9 million during the quarter ended March 31, 2023 to $7.9 million, as compared to $4.9 million at December 31, 2022 but decreased by $0.5 million compared to the March 31, 2022 past due balance of $8.4 million. Non-performing loans were $16.0 million at March 31, 2023, a decrease of $5.3 million from $21.3 million as of December 31, 2022, and a decrease of $1.9 million from $14.1 million as of March 31, 2022. Of the $16.0 million loans designated as non-performing, approximately $10.2 million are less than 30 days past due as of March 31, 2023.

The following table illustrates the total loans by risk rating and their respective percentage of total loans for the periods presented.

	March 31,			% of Loans Outstanding		December 31,			% of Loans Outstanding		March 31,			% of Loans Outstanding
(dollars in thousands)	2023					2022					2022
Risk Rating:
Pass	$	6,232,962		97.1	%	$	6,251,945		96.9	%	$	5,682,026		97.1	%
Special Mention	125,492			2.0	%	127,000			2.0	%	120,684			2.1	%
Substandard	63,967			1.0	%	71,502			1.1	%	49,265			0.8	%
Total	$	6,422,421				$	6,450,447				$	5,851,975
Classified loans to total loans	1.00		%			1.11		%			0.84		%
Loans past due 30+ days to total loans	0.12		%			0.08		%			0.14		%

The ratio of classified loans decreased to 1.00% as of March 31, 2023 as compared to 1.11% in the trailing quarter, but increased by 16 basis points from the equivalent period in 2022. The Company's criticized loan balances decreased during the current quarter by $9.0 million to $189.5 million as of March 31, 2023.

There were no changes to Other Real Estate Owned balances during the first quarter of 2023. As of March 31, 2023, other real estate owned consisted of nine properties with a carrying value of approximately $3.4 million.

Non-performing assets of $19.5 million at March 31, 2023 represented 0.20% of total assets, generally in line with the $24.8 million or 0.25% and $17.0 million or 0.17% as of December 31, 2022 and March 31, 2022, respectively.

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Non-interest Income

The following table summarizes the Company’s non-interest income for the periods indicated (in thousands):

	Three months ended March 31,
(in thousands)	2023		2022		$ Change		% Change
ATM and interchange fees	$	6,344	$	6,243	$	101	1.6	%
Service charges on deposit accounts	3,431		3,834		(403)		(10.5)	%
Other service fees	1,166		882		284		32.2	%
Mortgage banking service fees	465		463		2		0.4	%
Change in value of mortgage servicing rights	(209)		274		(483)		(176.3)	%
Total service charges and fees	11,197		11,696		(499)		(4.3)	%
Increase in cash value of life insurance	802		638		164		25.7	%
Asset management and commission income	934		887		47		5.3	%
Gain on sale of loans	206		1,246		(1,040)		(83.5)	%
Lease brokerage income	98		158		(60)		(38.0)	%
Sale of customer checks	288		104		184		176.9	%
Gain on sale of investment securities	(164)		—		(164)		n/m
Gain on marketable equity securities	42		(137)		179		(130.7)	%
Other	232		504		(272)		(54.0)	%
Total other non-interest income	2,438		3,400		(962)		(28.3)	%
Total non-interest income	$	13,635	$	15,096	$	(1,461)	(9.7)	%

Non-interest income decreased $1.5 million or 9.7% to $13.6 million during the three months ended March 31, 2023, compared to $15.1 million during the quarter ended March 31, 2022. Total service charges and fees declined by $0.5 million or 4.3% during the period, of which $0.9 million is due to waived or reversed fees related to the network outage disclosed in the Company's 8-K filed with the SEC on February 14, 2023. In addition, the declining mortgage related activity resulting from elevated interest rates reduced income recorded from the sale of loans by $1.0 million or 83.5%, as compared to the three months ended March 31, 2022.

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Non-interest Expense

The following table summarizes the Company’s non-interest expense for the periods indicated:

	Three months ended March 31,
(in thousands)	2023		2022		$ Change		% Change
Base salaries, net of deferred loan origination costs	$	23,000	$	18,216	$	4,784	26.3	%
Incentive compensation	2,895		2,583		312		12.1	%
Benefits and other compensation costs	6,668		5,972		696		11.7	%
Total salaries and benefits expense	32,563		26,771		5,792		21.6	%
Occupancy	4,160		3,575		585		16.4	%
Data processing and software	4,032		3,513		519		14.8	%
Equipment	1,383		1,333		50		3.8	%
Intangible amortization	1,656		1,228		428		34.9	%
Advertising	759		637		122		19.2	%
ATM and POS network charges	1,709		1,375		334		24.3	%
Professional fees	1,589		876		713		81.4	%
Telecommunications	595		521		74		14.2	%
Regulatory assessments and insurance	792		720		72		10.0	%
Merger and acquisition expense	—		4,032		(4,032)		(100.0)	%
Postage	299		228		71		31.1	%
Operational losses (gain)	435		(183)		618		(337.7)	%
Courier service	339		414		(75)		(18.1)	%
Loss on disposal of fixed assets	—		(1,078)		1,078		(100.0)	%
Other miscellaneous expense	3,483		2,485		998		40.2	%
Total other non-interest expense	21,231		19,676		1,555		7.9	%
Total non-interest expense	$	53,794	$	46,447	$	7,347	15.8	%
Average full time equivalent staff	1,219		1,084		135		12.5	%

Generally, the increases in recurring non-interest expense items reflect the VRB merger closing on March 25, 2022, and therefore, related expenses for the combined entities, less certain realized cost savings, are largely only being captured within the most recent three months ended March 31, 2023. Total non-interest expense increased $7.3 million or 15.8% to $53.8 million during the three months ended March 31, 2023 as compared to $46.4 million for the quarter ended March 31, 2022. Total salaries and benefits expense increased by $5.8 million or 21.6% to $32.6 million, largely from a net increase of 135 full-time equivalent positions, 99 of which resulted from the aforementioned merger with VRB. Professional fees increased by $0.7 million which was directly associated with the cybersecurity incident disclosed in the Company's 8-K filed with the SEC on February 14, 2023. While management has accrued for costs incurred through the balance sheet date that are probable and reasonably estimable, additional expenses will be incurred in future periods as management works to complete its investigation of the incident. See also "Part II - Other Information - Item 1A — Risk Factors beginning on page 57.

Income Taxes

The Company’s effective tax rate was 26.8% for the quarter ended March 31, 2023, as compared to 27.9% for the year ended December 31, 2022. Differences between the Company's effective tax rate and applicable federal and state blended statutory rate of approximately 29.6% are due to the proportion of non-taxable revenues, non-deductible expenses, and benefits from tax credits as compared to the levels of pre-tax earnings.

Financial Condition

For financial reporting purposes, the Company does not separately track the changes in assets and liabilities based on branch location or regional geography. The following is a comparison of the quarterly change in certain assets and liabilities:

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Ending balances	March 31,		December 31,				Annualized  % Change
(dollars in thousands)	2023		2022		$ Change
Total assets	$	9,842,394	$	9,930,986	$	(88,592)	(3.6)	%
Total loans	6,422,421		6,450,447		(28,026)		(1.7)
Total investments	2,577,769		2,633,269		(55,500)		(8.4)
Total deposits	8,025,865		8,329,013		(303,148)		(14.6)
Other borrowings	434,140		264,605		169,535		256.3

Loans outstanding declined by $28.0 million or 1.7% on an annualized basis during the quarter ended March 31, 2023. During the quarter, loan originations/draws totaled approximately $357.0 million while payoffs/repayments of loans totaled $389.0 million, which compares to originations/draws and payoffs/repayments during the trailing quarter ended of $470.0 million and $343.0 million, respectively. While management believes the loan pipeline remains sufficient to support the Company's objectives, origination activity continues to moderate due to customer sensitivity from the rising interest rate environment and the Company's continued focus on disciplined underwriting. Investment security balances decreased $55.5 million or 8.4% on an annualized basis as the result of prepayments/maturities totaling approximating $65.8 million and proceeds from sale of $24.2 million, partially offset by increases in the market value of securities of $34.6 million. Management seeks to utilize excess cash flows from the investment security portfolio to support loan growth or reduce borrowings thus resulting in an improved mix of earning assets. Deposit balances decreased by $303.1 million or 14.6% annualized during the period. Cash flow needs were supported by net increases in short-term FHLB advances which totaled $434.1 million as of the quarter ended March 31, 2023.

The following is a comparison of the year over year change in certain assets and liabilities:

Ending balances	As of March 31,						% Change
(dollars in thousands)	2023		2022		$ Change
Total assets	$	9,842,394	$	10,118,328	$	(275,934)	(2.7)	%
Total loans	6,422,421		5,851,975		570,446		9.7
Total loans, excluding PPP	6,420,903		5,795,370		625,533		10.8
Total investments	2,577,769		2,569,706		8,063		0.3
Total deposits	8,025,865		8,714,477		(688,612)		(7.9)
Total other borrowings	434,140		36,184		397,956		1,099.8

Non-PPP loan balances increased as a result of organic activities by approximately $625.5 million or 10.8% during the twelve-month period ending March 31, 2023. Over the same period deposit balances have declined by $688.6 million or 7.9%. The Company has offset these declines through the deployment of excess cash balances and proceeds from short-term FHLB borrowings. As of March 31, 2023, short-term borrowings from the FHLB totaled $394.1 million and had an interest rate of 5.11%.

Investment Securities

Investment securities available for sale decreased $46.6 million to $2.4 billion as of March 31, 2023, compared to December 31, 2022. The decrease is attributed to $56.9 million in calls and principal repayments, partially offset by $34.7 million in market value appreciation. In addition, proceeds from the sale of investment securities totaled $24.2 million for the three months ended March 31, 2023, resulting in gross realized losses of $0.16 million. There were no sales of investment securities during the three months ended March 31, 2022.

The following table presents the available for sale debt securities portfolio by major type as of March 31, 2023 and December 31, 2022:

	March 31, 2023				December 31, 2022
(in thousands)	Fair Value		%		Fair Value		%
Debt securities available for sale:
Obligations of U.S. government agencies	$	1,357,435	56.4	%	$	1,372,769	56.0	%
Obligations of states and political subdivisions	279,900		11.6	%	293,205		12.0	%
Corporate bonds	5,738		0.3	%	5,751		0.2	%
Asset backed securities	427,364		17.8	%	439,767		17.9	%
Non-agency mortgage backed	335,375		13.9	%	340,946		13.9	%
Total debt securities available for sale	$	2,405,812	100.0	%	$	2,452,438	100.0	%

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	March 31, 2023				December 31, 2022
(in thousands)	Amortized Cost		%		Amortized Cost		%
Debt securities held to maturity:
Obligations of U.S. government and agencies	$	148,700	97.8	%	$	154,830	96.2	%
Obligations of states and political subdivisions	3,367		2.2	%	6,153		3.8	%
Total debt securities held to maturity	$	152,067	100.0	%	$	160,983	100.0	%

Investment securities held to maturity decreased $8.9 million to $152.1 million as of March 31, 2023, as compared to December 31, 2022. This decrease is attributable to calls and principal repayments of $8.8 million, and amortization of net purchase premiums of $0.1 million.

Loans

The Company focuses its primary lending activities in six principal areas: commercial real estate loans, consumer loans, commercial and industrial loans, construction loans, agriculture production loans and leases. The interest rates charged for the loans made by the Company vary with the degree of risk, the size and duration of the loans, the borrower’s relationship with the Company and prevailing money market rates indicative of the Company’s cost of funds.

The majority of the Company’s loans are direct loans made to individuals, and local or regional businesses which service a variety of industries. The Company relies substantially on local promotional activity and personal contacts by bank officers, directors and employees to compete with other financial institutions. The Company makes loans to borrowers whose applications include a sound purpose, a viable repayment source and a plan of repayment established at inception and generally backed by a secondary source of repayment.

The following table shows the Company’s loan balances, net deferred loan costs and discounts, as of the dates indicated:

(in thousands)	March 31, 2023				December 31, 2022
Commercial real estate	$	4,353,959	67.8	%	$	4,359,083	67.6	%
Consumer	1,233,797		19.2	%	1,240,743		19.2	%
Commercial and industrial	553,098		8.6	%	569,921		8.8	%
Construction	225,996		3.5	%	211,560		3.3	%
Agriculture production	47,062		0.7	%	61,414		1.0	%
Leases	8,509		0.1	%	7,726		0.1	%
Total loans	$	6,422,421	100.0	%	$	6,450,447	100.0	%

Nonperforming Assets

The following tables set forth the amount of the Company’s NPAs as of the dates indicated. “Performing nonaccrual loans” are loans that may be current for both principal and interest payments, or are less than 90 days past due, but for which payment in full of both principal and interest is not expected, and are not well secured and in the process of collection:

(in thousands)	March 31, 2023			December 31, 2022
Performing nonaccrual loans	$	13,840		$	19,543
Nonperforming nonaccrual loans	1,996			1,770
Total nonaccrual loans	15,836			21,313
Loans 90 days past due and still accruing	189			8
Total nonperforming loans	16,025			21,321
Foreclosed assets	3,439			3,439
Total nonperforming assets	$	19,464		$	24,760
Nonperforming assets to total assets	0.20		%	0.25		%
Nonperforming loans to total loans	0.25		%	0.33		%
Allowance for credit losses to nonperforming loans	676		%	516		%

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Changes in nonperforming assets during the three months ended March 31, 2023

(in thousands)	Balance at December 31, 2022		New NPA / Valuation Adjustments	Pay-downs /Sales /Upgrades	Charge-offs/ (1) Write-downs	Transfers to Foreclosed Assets	Balance at March 31, 2023
Commercial real estate:
CRE non-owner occupied	$	1,739	—	(68)	—	—	$	1,671
CRE owner occupied	4,938		97	(1,187)	—	—	3,848
Multifamily	125		—	(8)	—	—	117
Farmland	1,772		—	(1,401)	—	—	371
Total commercial real estate loans	8,574		97	(2,664)	—	—	6,007
Consumer
SFR 1-4 1st DT liens	4,220		406	(1,095)	—	—	3,531
SFR HELOCs and junior liens	3,155		427	(166)	(43)	—	3,373
Other	76		110	(2)	(45)	—	139
Total consumer loans	7,451		943	(1,263)	(88)	—	7,043
Commercial and industrial	3,526		292	(683)	(1,574)	—	1,561
Construction	491		—	(34)	—	—	457
Agriculture production	1,279		—	(322)	—	—	957
Leases	—		—	—	—	—	—
Total nonperforming loans	21,321		1,332	(4,966)	(1,662)	—	16,025
Foreclosed assets	3,439		—	—	—	—	3,439
Total nonperforming assets	$	24,760	1,332	(4,966)	(1,662)	—	$	19,464

(1) The table above does not include deposit overdraft charge-offs.

Nonperforming assets decreased during the three months ended March 31, 2023 by $5.3 million or 21.4% to $19.5 million compared to $24.8 million at December 31, 2022. The decrease in nonperforming assets during the first quarter of 2023 was primarily the result of nonperforming loan pay-downs/upgrades, which totaled $5.0 million during the quarter and charge-offs of $1.7 million. The nonperforming loans added during the period totaled $1.3 million. Management is actively engaged in the collection and recovery efforts for all nonperforming assets and believes that the loan loss reserves associated with these loans is sufficient as of March 31, 2023.

Loan charge-offs during the three months ended March 31, 2023

In the first quarter of 2023, the Company recorded $1.7 million in loan charge-offs and $0.01 million in deposit overdraft charge-offs less $0.1 million in loan recoveries and $0.1 million in deposit overdraft recoveries, which collectively resulted in $1.6 million in net charge-offs.

(in thousands)

The Components of the Allowance for Credit Losses for Loans

The following table sets forth the allowance for credit losses for loans as of the dates indicated:

(in thousands)	March 31, 2023			December 31, 2022			March 31, 2022
Allowance for credit losses:
Qualitative and forecast factor allowance	$	75,467		$	70,777		$	64,334
Cohort model allowance reserves	32,054			32,489			30,880
Allowance for individually evaluated loans	886			2,414			835
Total allowance for credit losses	$	108,407		$	105,680		$	96,049
Allowance for credit losses for loans / total loans	1.69		%	1.64		%	1.64		%

For additional information regarding the allowance for loan losses, including changes in specific, formula, and environmental factors allowance categories, see “Asset Quality and Loan Loss Provisioning” at “Results of Operations”, above. Based on the current conditions of the loan portfolio, management believes that the $108.4 million allowance for loan losses at March 31, 2023 is adequate to absorb probable losses inherent in the Bank’s loan portfolio. No assurance can be given, however, that adverse economic conditions or other circumstances will not result in increased losses in the portfolio.

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The following table summarizes the allocation of the allowance for credit losses between loan types and by percentage of the total allowance for credit losses on loans as of the dates indicated:

(in thousands)	March 31, 2023				December 31, 2022			March 31, 2022
Commercial real estate	$	64,937	59.9	%	61,381	58.1	%	$	54,992	57.3	%
Consumer	24,896		23.0	%	24,639	23.3	%	23,852		24.8	%
Commercial and industrial	12,069		11.1	%	13,597	12.9	%	8,869		9.2	%
Construction	5,655		5.2	%	5,142	4.8	%	7,437		7.7	%
Agriculture production	833		0.7	%	906	0.8	%	883		0.9	%
Leases	17		0.1	%	15	0.1	%	16		0.1	%
Total allowance for credit losses	$	108,407	100.0	%	105,680	100.0	%	$	96,049	100.0	%

The following table summarizes the allocation of the allowance for credit losses as a percentage of the total loans for each loan category as of the dates indicated:

(in thousands)	March 31, 2023		December 31, 2022		March 31, 2022
Commercial real estate	1.49	%	1.41	%	1.43	%
Consumer	2.02	%	1.99	%	2.10	%
Commercial and industrial	2.18	%	2.39	%	1.77	%
Construction	2.50	%	2.43	%	2.45	%
Agriculture production	1.77	%	1.48	%	1.27	%
Leases	0.20	%	0.19	%	0.20	%
Total loans	1.69	%	1.64	%	1.64	%

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The following table summarizes the activity in the allowance for credit losses for the periods indicated:

	Three months ended March 31,
(in thousands)	2023			2022
Allowance for credit losses:
Balance at beginning of period	$	105,680		$	85,376
ACL on PCD loans	—			2,037
Provision for (reversal of) loan losses	4,315			8,205
Loans charged-off:
Commercial real estate:
CRE non-owner occupied	—			—
CRE owner occupied	—			—
Multifamily	—			—
Farmland	—			(294)
Consumer:
SFR 1-4 1st DT liens	—			—
SFR HELOCs and junior liens	(42)			—
Other	(142)			(119)
Commercial and industrial	(1,574)			(330)
Construction	—			—
Agriculture production	—			—
Leases	—			—
Total loans charged-off	(1,758)			(743)
Recoveries of previously charged-off loans:
Commercial real estate:
CRE non-owner occupied	—			—
CRE owner occupied	—			—
Multifamily	—			—
Farmland	—			—
Consumer:
SFR 1-4 1st DT liens	—			40
SFR HELOCs and junior liens	65			175
Other	51			71
Commercial and industrial	53			887
Construction	—			—
Agriculture production	1			1
Leases	—			—
Total recoveries of previously charged-off loans	170			1,174
Net recoveries	(1,588)			431
Balance at end of period	$	108,407		$	96,049
Average total loans	$	6,413,958		$	4,988,560
Ratios (annualized):
Net (charge-offs) recoveries during period to average loans outstanding during period	(0.10)		%	0.03		%
Provision for credit losses to average loans outstanding during period	0.27		%	0.66		%

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Foreclosed Assets, Net of Allowance for Losses

The following table details the components and summarize the activity in foreclosed assets, net of allowances for losses, for the three months ended March 31, 2023:

(in thousands)	Balance at December 31, 2022		Sales		Valuation Adjustments		Transfers from Loans		Balance at March 31, 2023
Land & construction	$	154	$	—	$	—	$	—	$	154
Residential real estate	1,709		—		—		—		1,709
Commercial real estate	1,576		—		—		—		1,576
Total foreclosed assets	$	3,439	$	—	$	—	$	—	$	3,439

Deposits

During the three months ended March 31, 2023, the Company’s deposits decreased by $303.1 million to $8.7 billion at quarter end. There were no brokered deposits included in the deposit balances as of March 31, 2023 and December 31, 2022, respectively.

Off-Balance Sheet Arrangements

See Note 9 to the condensed consolidated financial statements at Item 1 of Part I of this report for information about the Company’s commitments and contingencies including off-balance-sheet arrangements.

Capital Resources

The current and projected capital position of the Company and the impact of capital plans and long-term strategies are reviewed regularly by Management.

On February 25, 2021 the Board of Directors authorized the repurchase of up to 2,000,000 shares of the Company's common stock (the 2021 Repurchase Plan), which approximated 6.7% of the shares outstanding as of the approval date. The actual timing of any share repurchases will be determined by the Company's management and therefore the total value of the shares to be purchased under the 2021 Repurchase Plan is subject to change. The Company may repurchase its outstanding shares of common stock from time to time in open market or privately-negotiated transactions, including block trades, or pursuant to 10b5-1 trading plans. The 2021 Repurchase Plan has no expiration date (in accordance with applicable laws and regulations).

Concurrently with the announcement of the completion of the VRB merger, the Company announced the resumption of its 2021 Repurchase Plan planned activities. During the three months ended March 31, 2023 and 2022, the Company repurchased 150,000 and zero shares with market values of $7.0 million and $0, respectively.

Total shareholders' equity increased by $43.8 million during the quarter ended March 31, 2023, as a result of an improvement in accumulated other comprehensive losses of $24.4 million and net income of $35.8 million, partially offset by cash dividend payments on common stock of approximately $9.9 million. As a result, the Company’s book value was $32.84 per share at March 31, 2023, as compared to $31.39 and $32.78 at December 31, 2022, and March 31, 2022, respectively. The Company’s tangible book value per share, a non-GAAP measure, calculated by subtracting goodwill and other intangible assets from total shareholders’ equity and dividing that sum by total shares outstanding, was $23.22 per share at March 31, 2023, as compared to $21.76 and $23.04 at December 31, 2022, and March 31, 2022, respectively.

Trailing Quarter Balance Sheet Change

	March 31, 2023				December 31, 2022
	Ratio		Minimum Regulatory Requirement		Ratio		Minimum Regulatory Requirement
Total risk based capital	14.5	%	10.5	%	14.2	%	10.5	%
Tier I capital	12.7	%	8.5	%	12.4	%	8.5	%
Common equity Tier 1 capital	12.0	%	7.0	%	11.7	%	7.0	%
Leverage	10.2	%	4.0	%	10.1	%	4.0	%

See Note 10 and Note 16 to the condensed consolidated financial statements at Item 1 of Part I of this report for additional information about the Company’s capital resources.

As of March 31, 2023, we had an effective shelf registration statement on file with the Securities and Exchange Commission that allows us to issue various types of debt securities, as well as common stock, preferred stock, warrants, depository shares representing fractional interest in shares of preferred stock, purchase contracts and units from time to time in one or more offerings. Each issuance under the shelf

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registration statement will require the filing of a prospectus supplement identifying the amount and terms of the securities to be issued. The registration statement does not limit the amount of securities that may be issued thereunder. Our ability to issue securities is subject to market conditions and other factors including, in the case of our debt securities, our credit ratings and compliance with current and prospective covenants in credit agreements.

Liquidity

The Company's primary sources of liquidity include the following for the periods indicated:

(dollars in thousands)	March 31, 2023		December 31, 2022
Borrowing capacity at correspondent banks and FRB	$	2,853,219	$	2,815,594
Less: borrowings outstanding	(394,095)		(216,700)
Unpledged available-for-sale investment securities	1,883,353		1,990,451
Cash held or in transit with FRB	67,468		56,910
Total primary liquidity	$	4,409,945	$	4,862,738.3

At March 31, 2023, the Company's primary sources of liquidity represented 54.9% of total deposits and 190.7% of estimated total uninsured deposits, respectively. As a secondary source of liquidity, the Company's held-to-maturity investment securities had a fair value of $142.1 million, including approximately $9.9 million in net unrealized losses or 0.6% of after tax total shareholders' equity.

The Company’s profitability during the first three months of 2023 generated cash flows from operations of $39.0 million compared to $34.8 million during the first three months of 2022. Net cash from investing activities was $115.3 million for the three months ended March 31, 2023, compared to net cash used by investing activities of $121.9 million during the three months ending 2022. Financing activities used $151.1 million during the three months ended March 31, 2023, compared to providing $110.5 million during the three months ended March 31, 2022. During the three months ended March 31, 2023 deposit balance decreases of $303.1 million was the largest detractor of funding, which attributed to the increase in other borrowings of $169.5 million during the same period.

The changes in contractual obligations of the Company and Bank, to include but not limited to term subordinated debt, operating leases, deferred compensation and supplemental retirement plans as well as off-balance sheet commitments such as unfunded loans and letters of credit. These contractual obligations are otherwise consistent with similar balances or totals as of December 31, 2022.

The Company is dependent upon the payment of cash dividends by the Bank to service its commitments, which have historically included dividends to shareholders, scheduled debt service payments, and general operations. Shareholder dividends are expected to continue subject to the Board’s discretion and management's continuing evaluation of capital levels, earnings, asset quality and other factors. The Company expects that the cash dividends paid by the Bank to the Company will be sufficient to cover the Company's cash flow needs. However, the Company and its ability to generate liquidity through either the issuance of stock or debt, also serves as a potential source of strength for the Bank. Dividends paid by the Company to holders of its common stock used $10.0 million and $7.4 million of cash during the three months ended March 31, 2023 and 2022, respectively. The Company’s liquidity is dependent on dividends received from the Bank. Dividends from the Bank are subject to certain regulatory restrictions.

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TRICO BANCSHARES—NON-GAAP FINANCIAL MEASURES

(Unaudited. Dollars in thousands)

In addition to results presented in accordance with generally accepted accounting principles in the United States of America (GAAP), this filing contains certain non-GAAP financial measures. Management has presented these non-GAAP financial measures in this filing because it believes that they provide useful and comparative information to assess trends in the Company's core operations reflected in the current quarter's results, and facilitate the comparison of our performance with the performance of our peers. However, these non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP. Where applicable, comparable earnings information using GAAP financial measures is also presented. Because not all companies use the same calculations, our presentation may not be comparable to other similarly titled measures as calculated by other companies. For a reconciliation of these non-GAAP financial measures, see the tables below:

	Three months ended
(dollars in thousands)	March 31, 2023		December 31, 2022		March 31, 2022
Net interest margin
Acquired loans discount accretion, net:
Amount (included in interest income)	$1,397		$1,751		$1,323
Effect on average loan yield	0.09	%	0.11	%	0.11	%
Effect on net interest margin (FTE)	0.06	%	0.07	%	0.07	%
Net interest margin (FTE)	4.21	%	4.34	%	3.39	%
Net interest margin less effect of acquired loan discount accretion (Non-GAAP)	4.15	%	4.27	%	3.32	%
PPP loans yield, net:
Amount (included in interest income)	$5		$16		$1,097
Effect on net interest margin (FTE)	—	%	—	%	0.03	%
Net interest margin less effect of PPP loan yield (Non-GAAP)	4.21	%	4.34	%	3.36	%
Acquired loan discount accretion and PPP loan yield, net:
Amount (included in interest income)	$1,402		$1,767		$2,420
Effect on net interest margin (FTE)	0.06	%	0.07	%	0.10	%
Net interest margin less effect of acquired loan discount accretion and PPP yields, net (Non-GAAP)	4.15	%	4.27	%	3.29	%

	Three months ended
(dollars in thousands)	March 31, 2023		December 31, 2022		March 31, 2022
Pre-tax pre-provision return on average assets or equity
Net income (GAAP)	$35,833		$36,343		$20,374
Exclude provision for income taxes	13,149		14,723		7,869
Exclude provision (benefit) for credit losses	4,195		4,245		8,330
Net income before income tax and provision expense (Non-GAAP)	$53,177		$55,311		$36,573
Average assets (GAAP)	$9,878,927		$9,932,931		$8,778,256
Average equity (GAAP)	$1,087,473		$1,016,468		$1,009,224
Return on average assets (GAAP) (annualized)	1.47	%	1.45	%	0.94	%
Pre-tax pre-provision return on average assets (Non-GAAP) (annualized)	2.18	%	2.21	%	1.69	%
Return on average equity (GAAP) (annualized)	13.36	%	14.19	%	8.19	%
Pre-tax pre-provision return on average equity (Non-GAAP) (annualized)	19.83	%	21.59	%	14.70	%

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	Three months ended
(dollars in thousands)	March 31, 2023		December 31, 2022		March 31, 2022
Return on tangible common equity
Average total shareholders' equity	$1,087,473		$1,016,468		$1,009,224
Exclude average goodwill	304,442		306,192		226,676
Exclude average other intangibles	15,842		17,521		12,604
Average tangible common equity (Non-GAAP)	$767,189		$692,755		$769,944
Net income (GAAP)	$35,833		$36,343		$20,374
Exclude amortization of intangible assets, net of tax effect	1,166		1,199		865
Tangible net income available to common shareholders (Non-GAAP)	$36,999		$37,542		$21,239
Return on average equity	13.36	%	14.19	%	8.19	%
Return on average tangible common equity (Non-GAAP)	19.56	%	21.50	%	11.19	%

	Three months ended
(dollars in thousands)	March 31, 2023		December 31, 2022		September 30, 2022		June 30, 2022		March 31, 2022
Tangible shareholders' equity to tangible assets
Shareholders' equity (GAAP)	$1,090,245		$1,046,416		$990,338		$1,042,177		$1,109,182
Exclude goodwill and other intangible assets, net	319,456		321,112		326,314		328,016		329,718
Tangible shareholders' equity (Non-GAAP)	$770,789		$725,304		$664,024		$714,161		$779,464
Total assets (GAAP)	$9,842,394		$9,930,986		$9,976,879		$10,120,611		$10,118,328
Exclude goodwill and other intangible assets, net	319,456		321,112		326,314		328,016		329,718
Total tangible assets (Non-GAAP)	$9,522,938		$9,609,874		$9,650,565		$9,792,595		$9,788,610
Shareholders' equity to total assets (GAAP)	11.08	%	10.54	%	9.93	%	10.30	%	10.96	%
Tangible shareholders' equity to tangible assets (Non-GAAP)	8.09	%	7.55	%	6.88	%	7.29	%	7.96	%

	Three months ended
(dollars in thousands)	March 31, 2023	December 31, 2022	September 30, 2022	June 30, 2022	March 31, 2022
Tangible common shareholders' equity per share
Tangible s/h equity (Non-GAAP)	$770,789	$725,304	$664,024	$714,161	$779,464
Common shares outstanding at end of period	33,195,250	33,331,513	33,332,189	33,350,974	33,837,935
Common s/h equity (book value) per share (GAAP)	$32.84	$31.39	$29.71	$31.25	$32.78
Tangible common shareholders' equity (tangible book value) per share (Non-GAAP)	$23.22	$21.76	$19.92	$21.41	$23.04

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Item 3.    Quantitative and Qualitative Disclosures about Market Risk

Based on the changes in interest rates occurring subsequent to December 31, 2022, the following update of the Company’s assessment of market risk as of March 31, 2023 is being provided. These updates and changes should be read in conjunction with the additional quantitative and qualitative disclosures in our Annual Report on Form 10-K for the year ended December 31, 2022.

During the quarter ended March 31, 2023, market interest rates, including many rates that serve as reference indices for variable rate loans and investment securities continued to increase. As noted above, these rate increases have continued to benefit growth in total interest income. As of March 31, 2023, the Company's loan portfolio consisted of approximately $6.4 billion in outstanding principal with a weighted average coupon rate of 5.0%. During the three-month periods ending March 31, 2023 and December 31, 2022, the weighted average coupon on loan production in the quarter was 6.55% and 6.25%, respectively. Included in the March 31, 2023 loan total are variable rate loans totaling $3.6 billion, of which, $810.8 million are considered floating based on the Wall Street Prime index. In addition, the Company holds certain investment securities totaling $384.1 million which are subject to repricing on not less than a quarterly basis.

Management funds the acquisition of nearly all of its earning assets through its core deposit gathering activities. As of March 31, 2023, non-interest bearing deposits represented 40.3% of total deposits. Further, during the quarter ended March 31, 2023, the cost of interest bearing deposits were 0.43% and the cost of total deposits were 0.25%. With the intent of stabilizing or increasing net interest income, management intends to continue to deploy its excess liquidity and seek to migrate certain earning assets into higher yielding categories (from investment securities and into loans, for example). However, in situations where deposit balances contract, management relies upon various borrowing facilities or the use of brokered deposits. Through the first quarter of 2023 and during the entire 2022 year, management did not utilize any brokered deposits. Management did however utilize borrowing lines from the FHLB and expects that such borrowings will be needed and likely continue to grow through the remainder of the year and into 2024. As the rate paid on these borrowed funds are correlated with short-term interest rates, the costs associated with these borrowings, particularly in a rising rate environment, are also expected to increase.

As of March 31, 2023 the overnight Federal funds rate, the rate primarily used in these interest rate shock scenarios, was 4.83%. These scenarios assume that 1) interest rates increase or decrease evenly (in a “ramp” fashion) over a twelve-month period and remain at the new levels beyond twelve months or 2) that interest rates change instantaneously (“shock”). The simulation results shown below assume no changes in the structure of the Company’s balance sheet over the twelve months being measured.

The following table summarizes the estimated effect on net interest income and market value of equity to changing interest rates as measured against a flat rate (no interest rate change) instantaneous parallel shock scenario over a twelve month period utilizing a interest sensitivity (GAP) analysis based on the Company's specific mix of interest earning assets and interest bearing liabilities as of March 31, 2023.

Interest Rate Risk Simulations:

Change in Interest Rates (Basis Points)	Estimated Change in Net Interest Income (NII) (as % of NII)		Estimated  Change in  Market Value of Equity (MVE) (as % of MVE)
+300 (shock)	(3.5)	%	(6.3)	%
+200 (shock)	(2.5)	%	(4.0)	%
+100 (shock)	(1.2)	%	(1.0)	%
+    0 (flat)	—		—
-100 (shock)	(2.1)	%	(3.9)	%
-200 (shock)	(4.6)	%	(11.0)	%
-300 (shock)	(6.6)	%	(23.4)	%

Item 4.    Controls and Procedures

The Company’s management, including its Chief Executive Officer and Chief Financial Officer, have evaluated the effectiveness of the Company’s disclosure controls and procedures as of March 31, 2023. Disclosure controls and procedures, as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), are controls and procedures designed to reasonably assure that information required to be disclosed in the Company’s reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported on a timely basis. Disclosure controls are also designed to reasonably assure that such information is accumulated and communicated to the Company’s management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. Based upon their evaluation, our Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of March 31, 2023.

During the three months ended March 31, 2023, there were no changes in our internal controls or in other factors that have materially affected or are reasonably likely to materially affect our internal controls over financial reporting.

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PART II – OTHER INFORMATION

Item 1 - Legal Proceedings

Due to the nature of our business, we are involved in legal proceedings that arise in the ordinary course of our business. While the outcome of these matters is currently not determinable, we do not expect that the ultimate costs to resolve these matters will have a material adverse effect on our consolidated financial position, results of operations, or cash flows.

Item 1A - Risk Factors

The following risk factor represents a material update and addition to the risk factors previously disclosed in the Company’s 2022 Annual Report on Form 10-K. In addition to the other information set forth in this Quarterly Report on Form 10-Q, you should carefully consider the risk factors discussed in Part I, “Item 1A. Risk Factors” in our 2022 Annual Report on Form 10-K, which could materially affect our business, financial condition, or results of operations.

Adverse developments affecting the financial services industry, such as recent bank failures or concerns involving liquidity, may have a material effect on the Company’s operations, earnings and financial condition.

Late in the first quarter of 2023, the financial services industry was negatively affected by several bank failures. These recent events have caused general uncertainty and concern regarding the adequacy of liquidity within the banking sector as a whole and have decreased confidence in banks among depositors and investors. Although we were not directly affected by these bank failures, the resulting speed and ease in which news or rumors, including social media commentary, led depositors to withdraw or attempt to withdraw their funds from these and other financial institutions as well as caused the stock prices of many financial institutions to become volatile, in particular regional, as well as community banks like the Company. As a result of these recent events, customers may choose to maintain deposits with larger financial institutions or in other higher yielding alternatives, which could materially adversely impact the Company’s liquidity, loan funding capacity, net interest margin, capital and results of operations.

In response to these failures and the resulting market reaction, the Secretary of the Treasury approved actions enabling the FDIC to complete its resolutions of the failed banks in a manner that fully protects depositors by utilizing the Deposit Insurance Fund, including the use of Bridge Banks to assume all of the deposit obligations of the failed banks, while leaving unsecured lenders and equity holders of such institutions exposed to losses. In addition, the Federal Reserve Bank announced it would make available additional funding to eligible depository institutions under a Bank Term Funding Program to help assure banks have the ability to meet the needs of all their depositors. In an effort to strengthen public confidence in the banking system and protect depositors, regulators announced that any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law, which is expected to increase the cost of our FDIC insurance assessments. However, it is uncertain whether these steps by the government will be sufficient to calm the financial markets, reduce the risk of significant depositor withdrawals at other institutions and thereby reduce the risk of additional bank failures. As a result of this uncertainty, we face the potential for reputational risk, deposit outflows, increased costs and competition for liquidity, and increased credit risk which, individually or in the aggregate, could have a material adverse effect on our business, financial condition and results of operations.

Banking regulators have signaled further review of regulatory requirements and the potential for changes to laws or regulations governing banks and bank holding companies. Changes resulting from these events could include increased regulatory focus on deposit composition, the level of uninsured deposits, the level of unrealized losses in either available for sale or held to maturity securities portfolios, contingent liquidity, CRE loan composition and concentration, capital position and general oversight or supervisory or internal control structures regarding the foregoing. Changes in regulatory requirements could impact our ability to achieve our strategic objectives and may result in changes to our balance sheet position or business which could, in turn, negatively impact our profitability.

If we are required to sell securities to meet liquidity needs, we could realize significant losses.

As a result of increases in interest rates over the last year, the market values of previously issued government and other debt securities have declined in value, resulting in unrealized losses in our securities portfolio. While we anticipate that the scheduled cash flows generated from our investment portfolio will be adequate to support the liquidity needs of the Company, if we were required to sell these securities to expedite the generation of cash flows to meet liquidity needs, we may incur significant losses, which could impair our capital and financial condition and adversely affect our results of operations. Further, while we have taken actions to maximize our sources of liquidity, there is no guarantee that such sources will be available or sufficient in the event of sudden liquidity needs.

The following risk factor updates and supplements the risk factor regarding cyberattacks appearing on page 18 of the Company’s Form 10-K filed with the SEC on March 1, 2023.

We were subject to a cyberattack, which could damage our reputation, result in the disclosure of confidential information, or create additional financial and legal exposure.

As previously disclosed in the Current Report 8-K filed by us on February 14, 2023, the Bank experienced a cybersecurity incident, where unusual network activity was detected, and management shut down networked systems which prevented access to internal systems, data and telephones for a limited period of time. Upon discovering the incident, the Bank immediately launched an investigation. A digital forensics firm was engaged to help determine the scope of the incident and identify potentially impacted data. We received a demand for

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ransom from a party claiming responsibility for the incident and the Bank promptly notified law enforcement and banking regulators. The Bank believes that its core banking systems, including those that facilitate loan or deposit related transactions, were not affected by this incident as evidenced by the Bank’s general ability to resume customer facing operations within two days. However, the Bank’s internal system access as well as communication capabilities, including e-mail correspondence and telephones, required approximately one week of time for the restoration process to be completed in a safe and secure environment.

The Bank continues to work with third-party forensic investigators to understand the nature and scope of the incident and to determine what information was accessed and who was impacted. The investigation is on-going.

While we continue to evaluate the full impact of this incident, we remain subject to a number of risks and uncertainties, including legal, reputational, and financial risks, the results of our ongoing investigation of this security incident, any potential regulatory inquiries and/or litigation to which we may become subject in connection with this incident, and the extent of remediation and other additional costs that may be incurred by us. To date, we do not believe such financial consequences will be material, however the cybersecurity incident is still under investigation. Although the Company has insurance coverage, including cybersecurity insurance, the amount of coverage maintained may not cover all losses. We anticipate that we will incur additional expenses in future periods, including the notification of those impacted by the cybersecurity incident in accordance with applicable laws. Given the uncertainties about the impact of the incident and the inherent uncertainties involved in litigation, contractual obligations, government investigations and regulatory enforcement decisions, any outcomes from these risks could have a material adverse effect on our reputation, business and/or financial condition. In addition, litigation, regulatory interventions, and media reports of perceived security vulnerabilities and any resulting damage to our reputation or loss of confidence in the security of our systems could adversely affect our business. As cyber threats and the sophistication of threat actors continue to evolve, we have been and will likely continue to enhance our protective measures and will expend resources to investigate and remediate any information security vulnerabilities or incidents.

Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds

The following table shows the repurchases made by the Company or any affiliated purchaser (as defined in Rule 10b-18(a)(3) under the Exchange Act) during the periods indicated:

Period	(a) Total number of shares purchased (1)	(b) Average price paid per share		(c) Total number of shares purchased as of part of publicly announced plans or programs	(d) Maximum number of shares that may yet be purchased under the plans or programs at period end (2)
January 1-31, 2023	—	$	—	—	1,359,802
February 1-28, 2023	48,475	50.69		36,094	1,323,708
March 1-31, 2023	113,906	45.11		113,906	1,209,802
Total	162,381	$	46.77	150,000

(1)Includes shares purchased by the Company’s Employee Stock Ownership Plan in open market purchases and shares tendered by employees pursuant to various other equity incentive plans. See Notes 10 and 11 to the condensed consolidated financial statements at Item 1 of Part I of this report, for a discussion of the Company’s stock repurchased under equity compensation plans.

(2)Does not include shares that may be purchased by the Company’s Employee Stock Ownership Plan and pursuant to various other equity incentive plans. See Note 10 to the condensed consolidated financial statements at Item 1 of Part I of this report, for a discussion of the Company’s stock repurchase plan.

58

Table of Contents

Item 6 – Exhibits

EXHIBIT INDEX

Exhibit  No.	Exhibit
31.1	Rule 13a-14(a)/15d-14(a) Certification of CEO
31.2	Rule 13a-14(a)/15d-14(a) Certification of CFO
32.1	Section 1350 Certification of CEO
32.2	Section 1350 Certification of CFO
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document

59

Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TRICO BANCSHARES
	(Registrant)
Date: May 10, 2023	/s/ Peter G. Wiese
	Peter G. Wiese
	Executive Vice President and Chief Financial Officer
	(Duly authorized officer and principal financial and chief accounting officer)

60

EX-31.1

Exhibit 31.1

Rule 13a-14(a)/15d-14(a) Certification of CEO

I, Richard P. Smith, certify that;

1.I have reviewed this report on Form 10-Q of TriCo Bancshares;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiary, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 10, 2023	/s/ Richard P. Smith
	Richard P. Smith
	President and Chief Executive Officer

EX-31.2

Exhibit 31.2

Rule 13a-14(a)/15d-14(a) Certification of CFO

I, Peter G. Wiese, certify that;

1.I have reviewed this report on Form 10-Q of TriCo Bancshares;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiary, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 10, 2023	/s/ Peter G. Wiese
	Peter G. Wiese
	Executive Vice President and Chief Financial Officer

EX-32.1

Exhibit 32.1

Section 1350 Certification of CEO

In connection with the Quarterly Report of TriCo Bancshares (the “Company”) on Form 10-Q for the period ended March 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Richard P. Smith, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Richard P. Smith

Richard P. Smith

President and Chief Executive Officer

A signed original of this written statement required by Section 906 has been provided to TriCo Bancshares and will be retained by TriCo Bancshares and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

Exhibit 32.2

Section 1350 Certification of CFO

In connection with the Quarterly Report of TriCo Bancshares (the “Company”) on Form 10-Q for the period ended March 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Peter G. Wiese, Executive Vice President and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company

/s/ Peter G. Wiese

Peter G. Wiese

Executive Vice President and Chief Financial Officer

A signed original of this written statement required by Section 906 has been provided to TriCo Bancshares and will be retained by TriCo Bancshares and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	May 05, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	000-10661
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	94-2792841
Entity Address, Address Line One	63 Constitution Drive
Entity Address, City or Town	Chico
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95973
City Area Code	530
Local Phone Number	898-0300
Title of 12(b) Security	Common Stock
Trading Symbol	TCBK
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		33,206,788
Entity Registrant Name	TriCo Bancshares
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000356171

XML

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets:
Cash and due from banks	$ 77,933	$ 96,323
Cash at Federal Reserve and other banks	32,402	10,907
Cash and cash equivalents	110,335	107,230
Investment securities:
Marketable equity securities	2,640	2,598
Available for sale debt securities, net of allowance for credit losses of $0	2,405,812	2,452,438
Held to maturity debt securities, net of allowance for credit losses of $0	152,067	160,983
Restricted equity securities	17,250	17,250
Loans held for sale	226	1,846
Loans	6,422,421	6,450,447
Allowance for credit losses	(108,407)	(105,680)
Total loans, net	6,314,014	6,344,767
Premises and equipment, net	72,096	72,327
Cash value of life insurance	134,544	133,742
Accrued interest receivable	31,388	31,856
Goodwill	304,442	304,442
Other intangible assets, net	15,014	16,670
Operating leases, right-of-use	30,000	26,862
Other assets	252,566	257,975
Total assets	9,842,394	9,930,986
Deposits:
Noninterest-bearing demand	3,236,696	3,502,095
Interest-bearing	4,789,169	4,826,918
Total deposits	8,025,865	8,329,013
Accrued interest payable	1,643	1,167
Operating lease liability	32,228	29,004
Other liabilities	157,222	159,741
Other borrowings	434,140	264,605
Junior subordinated debt	101,051	101,040
Total liabilities	8,752,149	8,884,570
Commitments and contingencies (Note 9)
Shareholders’ equity:
Preferred stock, no par value: 1,000,000 shares authorized, zero issued and outstanding at March 31, 2023 and December 31, 2022	0	0
Common stock, no par value: 50,000,000 shares authorized; 33,195,250 and 33,331,513 issued and outstanding at March 31, 2023 and December 31, 2022, respectively	695,168	697,448
Retained earnings	564,538	542,873
Accumulated other comprehensive loss, net of tax	(169,461)	(193,905)
Total shareholders’ equity	1,090,245	1,046,416
Total liabilities and shareholders’ equity	$ 9,842,394	$ 9,930,986

XML

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Available-for-sale, allowance for credit loss	$ 0	$ 0
Held-to-maturity, allowance for credit loss	$ 0	$ 0
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	33,195,250	33,331,513
Common stock, shares outstanding (in shares)	33,195,250	33,331,513

XML

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest and dividend income:
Loans, including fees	$ 82,415	$ 57,745
Investments:
Taxable securities	18,622	9,962
Tax exempt securities	1,307	942
Dividends	304	261
Interest bearing cash at Federal Reserve and other banks	259	285
Total interest and dividend income	102,907	69,195
Interest expense:
Deposits	5,145	678
Other borrowings	2,809	5
Junior subordinated debt	1,617	588
Total interest expense	9,571	1,271
Net interest income	93,336	67,924
Provision for credit losses	4,195	8,330
Net interest income after credit loss provision	89,141	59,594
Non-interest income:
Service charges and fees	11,197	11,696
Gain on sale of loans	206	1,246
Loss on sale of investment securities	(164)	0
Asset management and commission income	934	887
Increase in cash value of life insurance	802	638
Other	660	629
Total non-interest income	13,635	15,096
Non-interest expense:
Salaries and related benefits	32,563	28,597
Other	21,231	17,850
Total non-interest expense	53,794	46,447
Income before provision for income taxes	48,982	28,243
Provision for income taxes	13,149	7,869
Net income	$ 35,833	$ 20,374
Per share data:
Basic earnings per share (in USD per share)	$ 1.08	$ 0.68
Diluted earnings per share (in USD per share)	1.07	0.67
Dividend per share (in USD per share)	$ 0.30	$ 0.25

XML

Condensed Consolidated Statement of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 35,833	$ 20,374
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on available for sale securities arising during the period	24,444	(78,397)
Change in minimum pension liability	0	58
Change in joint beneficiary agreements	0	0
Other comprehensive income (loss)	24,444	(78,339)
Comprehensive income (loss)	$ 60,277	$ (57,965)

XML

Condensed Consolidated Statements of Changes In Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2021		29,730,424
Beginning balance at Dec. 31, 2021	$ 1,000,184	$ 532,244	$ 466,959	$ 981
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,374		20,374
Other comprehensive (loss) income	(78,339)			(78,339)
Stock options exercised (in shares)		3,325
Stock options exercised	55	$ 55
RSU vesting	565	565
PSU vesting	247	$ 247
Issuance of common stock (in shares)		4,105,518
Issuance of common stock	173,585	$ 173,585
Repurchase of common stock (in shares)		(1,332)
Repurchase of common stock	(56)	$ (24)	(32)
Dividends paid	(7,433)		(7,433)
Ending balance (in shares) at Mar. 31, 2022		33,837,935
Ending balance at Mar. 31, 2022	$ 1,109,182	$ 706,672	479,868	(77,358)
Beginning balance (in shares) at Dec. 31, 2022	33,331,513	33,331,513
Beginning balance at Dec. 31, 2022	$ 1,046,416	$ 697,448	542,873	(193,905)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	35,833		35,833
Other comprehensive (loss) income	$ 24,444			24,444
Stock options exercised (in shares)	4,000	4,000
Stock options exercised	$ 78	$ 78
RSU vesting	728	728
PSU vesting	313	$ 313
RSUs released (in shares)		22,118
Repurchase of common stock (in shares)		(162,381)
Repurchase of common stock	(7,595)	$ (3,399)	(4,196)
Dividends paid	$ (9,972)		(9,972)
Ending balance (in shares) at Mar. 31, 2023	33,195,250	33,195,250
Ending balance at Mar. 31, 2023	$ 1,090,245	$ 695,168	$ 564,538	$ (169,461)

XML

Condensed Consolidated Statements of Changes In Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Common Stock
Dividends paid, per share (in USD per share)	$ 0.30	$ 0.30

XML

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Operating activities:
Net income		$ 35,833	$ 20,374
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of premises and equipment, and amortization		1,566	1,409
Amortization of intangible assets		1,656	1,228
Provision for credit losses		4,195	8,330
Amortization of investment securities premium, net		174	5,618
Loss on sale of investment securities		164	0
Originations of loans for resale		(6,281)	(30,187)
Proceeds from sale of loans originated for resale		8,058	33,509
Gain on sale of loans		(206)	(1,246)
Change in market value of mortgage servicing rights		209	(274)
Operating lease expense payments		(1,653)	(1,292)
Gain on disposal of fixed assets		0	(1,078)
Increase in cash value of life insurance		(802)	(638)
(Gain) loss on marketable equity securities		(42)	137
Equity compensation vesting expense		1,041	812
Change in:
Interest receivable		468	(83)
Interest payable		476	(801)
Amortization of operating lease ROUA		1,739	1,374
Other assets and liabilities, net		(7,640)	(2,347)
Net cash from operating activities		38,955	34,845
Investing activities:
Proceeds from maturities of securities available for sale		56,905	85,298
Proceeds from maturities of securities held to maturity		8,842	12,894
Proceeds from sale of available for sale securities		24,160	0
Purchases of securities available for sale		0	(247,354)
Loan origination and principal collections, net		26,558	(161,865)
Proceeds from sale of premises and equipment		0	6,689
Purchases of premises and equipment		(1,213)	(631)
Cash acquired from VRB, net of cash consideration paid		0	426,883
Net cash from investing activities		115,252	121,914
Financing activities:
Net change in deposits		(303,148)	131,839
Net change in other borrowings		169,535	(13,903)
Repurchase of common stock, net of option exercises		(7,595)	0
Dividends paid		(9,972)	(7,433)
Exercise of stock options		78	0
Net cash (used by) from financing activities		(151,102)	110,503
Net change in cash and cash equivalents		3,105	267,262
Cash and cash equivalents, beginning of period		107,230	768,421
Cash and cash equivalents, end of period		110,335	1,035,683
Supplemental disclosure of noncash activities:
Unrealized gain (loss) on securities available for sale		34,540	(111,302)
Loans transferred to held-for-sale		0	12,044
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes		621	55
Obligations incurred in conjunction with leased assets		4,484	521
Loans transferred to foreclosed assets		0	313
Supplemental disclosure of cash flow activity:
Cash paid for interest expense		9,095	1,546
Cash paid for income taxes		0	0
Business combination	[1]

[1] (1) During the period ended March 31, 2022, the VRB acquisition included fair value tangible assets acquired of $1.37 billion, liabilities assumed of $1.28 billion, resulting in goodwill of $0.09 billion.

XML

Consolidated Statements of Cash Flows (Parenthetical) $ in Thousands	Mar. 31, 2022 USD ($)
VRB Acquisition
Fair value of tangible assets	$ 1,370,000
Fair value of liabilities assumed	1,280,000
Goodwill	$ 90,000

XML

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Description of Business and Basis of Presentation

TriCo Bancshares (the “Company” or “we”) is a California corporation organized to act as a bank holding company for Tri Counties Bank (the “Bank”). The Company and the Bank are headquartered in Chico, California. The Bank is a California-chartered bank that is engaged in the general commercial banking business in 33 California counties. The consolidated financial statements are prepared in accordance with accounting policies generally accepted in the United States of America and general practices in the banking industry. All adjustments necessary for a fair presentation of these consolidated financial statements have been included and are of a normal and recurring nature. The financial statements include the accounts of the Company. All inter-company accounts and transactions have been eliminated in consolidation.

The Company has five capital subsidiary business trusts (collectively, the “Capital Trusts”) that issued trust preferred securities, including two organized by the Company and three acquired with the acquisition of North Valley Bancorp. For financial reporting purposes, the Company’s investments in the Capital Trusts of $1.76 million are accounted for under the equity method and, accordingly, are not consolidated and are included in other assets on the consolidated balance sheet. See the footnote 'Junior Subordinated Debt' for additional information on borrowings outstanding.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”). The Company believes that the disclosures made are adequate to make the information not misleading.

Segment and Significant Group Concentration of Credit Risk

The Company grants agribusiness, commercial, consumer, and residential loans to customers located throughout California. The Company has a diversified loan portfolio within the business segments located in this geographical area. The Company currently classifies all its operation into one business segment that it denotes as community banking.

Geographical Descriptions

For the purpose of describing the geographical location of the Company’s operations, the Company has defined northern California as that area of California north of, and including, Stockton to the east and San Jose to the west; central California as that area of the state south of Stockton and San Jose, to and including, Bakersfield to the east and San Luis Obispo to the west; and southern California as that area of the state south of Bakersfield and San Luis Obispo.

Reclassification

Some items in the prior year consolidated financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’ equity.

Cash and Cash Equivalents

Net cash flows are reported for loan and deposit transactions and other borrowings. For purposes of the consolidated statement of cash flows, cash, due from banks with original maturities less than 90 days, interest-earning deposits in other banks, and Federal funds sold are considered to be cash equivalents.

Allowance for Credit Losses - Securities

The Company measures expected credit losses on HTM debt securities on a collective basis by major security type, then further disaggregated by sector and bond rating. Accrued interest receivable on HTM debt securities was considered insignificant at March 31, 2023 and is therefore excluded from the estimate of credit losses. The estimate of expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts based on current and expected changes in credit ratings and default rates. Based on the implied guarantees of the U. S. Government or its agencies related to certain of these investment securities, and the absence of any historical or expected losses, substantially all qualify for a zero loss assumption.

Management has separately evaluated its HTM investment securities from obligations of state and political subdivisions utilizing the historical loss data represented by similar securities over a period of time spanning nearly 50 years. As a result of this evaluation, management determined that the expected credit losses associated with these securities is not significant for financial reporting purposes and therefore, no allowance for credit losses has been recognized.

The Company evaluates AFS debt securities in an unrealized loss position to determine whether the decline in the fair value below the amortized cost basis (impairment) is due to credit-related factors or noncredit-related factors. Any impairment that is not credit related is recognized in other comprehensive income, net of applicable taxes. Credit-related impairment is recognized as an allowance for credit losses on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings. Both the allowance for credit losses and the adjustment to net income may be reversed if conditions change. However, if the Company intends to sell an impaired available for sale debt security or more likely than not will be required to sell such a security before recovering its amortized cost basis, the entire impairment amount is recognized in earnings with a corresponding adjustment to the security's amortized cost basis. In evaluating available for sale debt securities in unrealized loss positions for impairment and the criteria regarding its intent or requirement to sell such securities, the Company considers the extent to which fair value is less than amortized cost, whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuers' financial condition, among other factors. Changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the ACL when management believes the uncollectability of an available for sale debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. No security credit losses were recognized during the three month periods ended March 31, 2023 and 2022, respectively.

Loans

Loans that management has the intent and ability to hold until maturity or payoff are reported at principle amount outstanding, net of deferred loan fees and costs. Loans are placed in nonaccrual status when reasonable doubt exists as to the full, timely collection of interest or principal, or a loan becomes contractually past due by 90 days or more with respect to interest or principal and is not well secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of principal is considered probable. Interest accruals are resumed on such loans only when they are brought fully current with respect to interest and principal and when, in the judgment of Management, the loan is estimated to be fully collectible as to both principal and interest. Accrued interest receivable is not included in the calculation of the allowance for credit losses.

Allowance for Credit Losses - Loans

The ACL is a valuation account that is deducted from the loan's amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged-off against the allowance when management believes the recorded loan balance is confirmed as uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Regardless of the determination that a charge-off is appropriate for financial accounting purposes, the Company manages its loan portfolio by continually monitoring, where possible, a borrower's ability to pay through the collection of financial information, delinquency status, borrower discussion and the encouragement to repay in accordance with the original contract or modified terms, if appropriate.

Management estimates the allowance balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. Historical credit loss experience provides the basis for the estimation of expected credit losses, which captures loan balances as of a point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over the remaining life. The Company identified and accumulated loan cohort historical loss data beginning with the fourth quarter of 2008 and through the current period. In situations where the Company's actual loss history was not statistically relevant, the loss history of peers, defined as financial institutions with assets greater than three billion and less than ten billion, were utilized to create a minimum loss rate. Adjustments to historical loss information are made for differences in relevant current loan-specific risk characteristics, such as historical timing of losses relative to the loan origination. In its loss forecasting framework, the Company incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios incorporate variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to changes in environmental conditions, such as California unemployment rates, household debt levels, changes in corporate debt yields, and U.S. gross domestic product.

PCD assets are assets acquired at a discount that is due, in part, to credit quality deterioration since origination. PCD assets are accounted for in accordance with ASC 326-20 and are initially recorded at fair value, by taking the sum of the present value of expected future cash flows and an allowance for credit losses, at acquisition. The allowance for credit losses for PCD assets is recorded through a gross-up of reserves on the balance sheet, while the allowance for acquired non-PCD assets, such as loans, is recorded through the provision for credit losses on the income statement, consistent with originated loans. Subsequent to acquisition, the allowance for credit losses for PCD loans will generally follow the same forward-looking estimation, provision, and charge-off process as non-PCD acquired and originated loans.

The Company has identified the following portfolio segments to evaluate and measure the allowance for credit loss:

Commercial real estate:

Commercial real estate - Non-owner occupied: These commercial properties typically consist of buildings which are leased to others for their use and rely on rents as the primary source of repayment. Property types are predominantly office, retail, or light industrial but the portfolio also has some special use properties. As such, the risk of loss associated with these properties is primarily driven by general

economic changes or changes in regional economies and the impact of such on a tenant’s ability to pay. Ultimately this can affect occupancy, rental rates, or both. Additional risk of loss can come from new construction resulting in oversupply, the costs to hold or operate the property, or changes in interest rates. The terms on these loans at origination typically have maturities from five to ten years with amortization periods from fifteen to thirty years.

Commercial real estate - Owner occupied: These credits are primarily susceptible to changes in the financial condition of the business operated by the property owner. This may be driven by changes in, among other things, industry challenges, factors unique to the operating geography of the borrower, change in the individual fortunes of the business owner, general economic conditions and changes in business cycles. When default is driven by issues related specifically to the business owner, collateral values tend to provide better repayment support and may result in little or no loss. Alternatively, when default is driven more by general economic conditions, the underlying collateral may have devalued more and thus result in larger losses in the event of default. The terms on these loans at origination typically have maturities from five to ten years with amortization periods from fifteen to thirty years.

Multifamily: These commercial properties are generally comprised of more than four rentable units, such as apartment buildings, with each unit intended to be occupied as the primary residence for one or more persons. Multifamily properties are also subject to changes in general or regional economic conditions, such as unemployment, ultimately resulting in increased vacancy rates or reduced rents or both. In addition, new construction can create an oversupply condition and market competition resulting in increased vacancy, reduced market rents, or both. Due to the nature of their use and the greater likelihood of tenant turnover, the management of these properties is more intensive and therefore is more critical to the preclusion of loss.

Farmland: While the Company has few loans that were originated for the purpose of the acquisition of these commercial properties, loans secured by farmland represent unique risks that are associated with the operation of an agricultural businesses. The valuation of farmland can vary greatly over time based on the property's access to resources including but not limited to water, crop prices, foreign exchange rates, government regulation or restrictions, and the nature of ongoing capital investment needed to maintain the quality of the property. Loans secured by farmland typically represent less risk to the Company than other agriculture loans as the real estate typically provides greater support in the event of default or need for longer term repayment.

Consumer loans:

SFR 1-4 1st DT Liens: The most significant drivers of potential loss within the Company's residential real estate portfolio relate general, regional, or individual changes in economic conditions and their effect on employment and borrowers cash flow. Risk in this portfolio is best measured by changes in borrower credit score and loan-to-value. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the value of homes and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate.

SFR HELOCs and Junior Liens: Similar to residential real estate term loans, HELOCs and junior liens performance is also primarily driven by borrower cash flows based on employment status. However, HELOCs carry additional risks associated with the fact that most of these loans are secured by a deed of trust in a position that is junior to the primary lien holder. Furthermore, the risk that as the borrower's financial strength deteriorates, the outstanding balance on these credit lines may increase as they may only be canceled by the Company if certain limited criteria are met. In addition to the allowance for credit losses maintained as a percent of the outstanding loan balance, the Company maintains additional reserves for the unfunded portion of the HELOC.

Other: The majority of consumer loans are secured by automobiles, with the remainder primarily unsecured revolving debt (credit cards). These loans are susceptible to three primary risks; non-payment due to income loss, over-extension of credit and, when the borrower is unable to pay, shortfall in collateral value, if any. Typically non-payment is due to loss of job and will follow general economic trends in the marketplace driven primarily by rises in the unemployment rate. Loss of collateral value can be due to market demand shifts, damage to collateral itself or a combination of those factors. Credit card loans are unsecured and while collection efforts are pursued in the event of default, there is typically limited opportunity for recovery. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate.

Commercial and Industrial:

Repayment of these loans is primarily based on the cash flow of the borrower, and secondarily on the underlying collateral provided by the borrower. A borrower's cash flow may be unpredictable, and collateral securing these loans may fluctuate in value. Most often, collateral includes accounts receivable, inventory, or equipment. Collateral securing these loans may depreciate over time, may be difficult to appraise, may be illiquid and may fluctuate in value based on the success of the business. Actual and forecast changes in gross domestic product are believed to be corollary to losses associated with these credits.

Construction:

While secured by real estate, construction loans represent a greater level of risk than term real estate loans due to the nature of the additional risks associated with the not only the completion of construction within an estimated time period and budget, but also the need to either sell the building or reach a level of stabilized occupancy sufficient to generate the cash flows necessary to support debt service and operating costs. The Company seeks to mitigate the additional risks associated with construction lending by requiring borrowers to comply with lower loan to value ratios and additional covenants as well as strong tertiary support of guarantors. The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset as adjusted for macroeconomic factors.

Agriculture Production:

Repayment of agricultural loans is dependent upon successful operation of the agricultural business, which is greatly impacted by factors outside the control of the borrower. These factors include adverse weather conditions, including access to water, that may impact crop yields, loss of livestock due to disease or other factors, declines in market prices for agriculture products, changes in foreign exchange, and the impact of government regulations. In addition, many farms are dependent on a limited number of key individuals whose injury or death may significantly affect the successful operation of the business. Consequently, agricultural production loans may involve a greater degree of risk than other types of loans.

Leases:

The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset. Leases typically represent an elevated level of credit risk as compared to loans secured by real estate as the collateral for leases is often subject to a more rapid rate of depreciation or depletion. The ultimate severity of loss is impacted by the type of collateral securing the exposure, the size of the exposure, the borrower’s industry sector, any guarantors and the geographic market. Assumptions of expected loss are conditioned to the economic outlook and the other variables discussed above.

Unfunded commitments:

The estimated credit losses associated with these unfunded lending commitments is calculated using the same models and methodologies noted above and incorporate utilization assumptions at time of default. The reserve for unfunded commitments is maintained on the consolidated balance sheet in other liabilities.

Accounting Standards Recently Issued or Adopted

FASB issued ASU 2023-02, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. This ASU permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. The adoption of this accounting guidance is not expected to have a material impact on the Company’s consolidated financial statements.

FASB issued ASU 2022-02, Financial Instruments — Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. This ASU addresses feedback received from adopters of CECL, specifically regarding accounting guidance for TDRs and disclosures of gross write-offs by year of loan origination. Accounting guidance for TDRs by creditors will be eliminated under this amendment, while also enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Amendments in this ASU were effective for the Company beginning January 1, 2023 and applied on a prospective basis. The adoption of this accounting guidance did not have a material impact on the Company's consolidated financial statements.

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Business Combinations

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Business Combinations

Business Combinations

On March 25, 2022, the Company completed its acquisition of Valley Republic Bancorp, including the merger of Valley Republic Bank into Tri Counties Bank, with Tri Counties Bank as the surviving entity, in accordance with the terms of the merger agreement dated as of July 27, 2021. The cash and stock transaction was valued at approximately $174.0 million in aggregate, based on TriCo's closing stock price of $42.48 on March 25, 2022. Under the terms of the merger agreement, the Company issued approximately 4.1 million shares, in addition to approximately $0.4 million in cash paid out for settlement of stock option awards at VRB.

The following table summarizes the consideration paid for VRB and the amounts of assets acquired and liabilities assumed that were recorded at the acquisition date (in thousands):

	Fair Value as of March 25, 2022
Fair value of consideration transferred:
Fair value of shares issued	$	173,585
Cash consideration	431
Total fair value of consideration transferred	174,016
Assets acquired:
Cash and cash equivalents	427,314
Securities available for sale	109,716
Loans and leases	771,353
Premises and equipment	4,658
Cash value of life insurance	13,609
Core deposit intangible	10,635
Other assets	29,744
Total assets acquired	1,367,029
Liabilities assumed:
Deposits	(1,215,479)
Subordinated debt	(47,236)
SERP liability	(3,352)
Other liabilities	(10,516)
Total liabilities assumed	(1,276,583)
Total net assets acquired	90,446
Goodwill recognized	$	83,570

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Investment Securities

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Investment Securities

Investment SecuritiesThe amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables:

	March 31, 2023
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	1,531,759	$	5	$	(174,329)	$	—	$	1,357,435
Obligations of states and political subdivisions	308,129		698		(28,927)		—		279,900
Corporate bonds	6,165		—		(427)		—		5,738
Asset backed securities	440,259		18		(12,913)		—		427,364
Non-agency collateralized mortgage obligations	375,345		—		(39,970)		—		335,375
Total debt securities available for sale	$	2,661,657	$	721	$	(256,566)	$	—	$	2,405,812
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	148,700	$	1	$	(9,942)	—		138,759
Obligations of states and political subdivisions	3,367		14		(5)		—		3,376
Total debt securities held to maturity	$	152,067	$	15	$	(9,947)	$	—	$	142,135

	December 31, 2022
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	1,568,408	$	3	$	(195,642)	$	—	$	1,372,769
Obligations of states and political subdivisions	332,625		401		(39,821)		—		293,205
Corporate bonds	6,164		—		(413)		—		5,751
Asset backed securities	454,943		17		(15,193)		—		439,767
Non-agency collateralized mortgage obligations	380,847		—		(39,901)		—		340,946
Total debt securities available for sale	$	2,742,987	$	421	$	(290,970)	$	—	$	2,452,438
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	154,830	$	2	$	(11,013)	$	—	$	143,819
Obligations of states and political subdivisions	6,153		13		(47)		—		6,119
Total debt securities held to maturity	$	160,983	$	15	$	(11,060)	$	—	$	149,938

Proceeds from the sale of investment securities totaled $24.2 million for the three months ended March 31, 2023, resulting in gross realized losses of $0.2 million. There were no sales of investment securities during the three months ended March 31, 2022. Investment securities with an aggregate carrying value of $648.4 million and $595.8 million at March 31, 2023 and December 31, 2022, respectively, were pledged as collateral for specific borrowings, lines of credit or local agency deposits.

The amortized cost and estimated fair value of debt securities at March 31, 2023 by contractual maturity are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. At March 31, 2023, obligations of U.S. government corporations and agencies with a cost basis totaling $1,502.5 billion consist almost entirely of residential real estate mortgage-backed securities whose contractual maturity, or principal repayment, will follow the repayment of the underlying mortgages. For purposes of the following table, the entire outstanding balance of these mortgage-backed securities issued by U.S. government corporations and agencies is categorized based on final maturity date. At March 31, 2023, the Company estimates the average remaining life of these mortgage-backed securities issued by U.S. government corporations and agencies to be approximately 6.53 years. Average remaining life is defined as the time span after which the principal balance has been reduced by half.

As of March 31, 2023, the contractual final maturity for available for sale and held to maturity investment securities is as follows:

Debt Securities	Available for Sale				Held to Maturity
(in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year	$	57,662	$	56,205	$	—	$	—
Due after one year through five years	114,294		109,745		5,316		5,157
Due after five years through ten years	407,960		389,802		9,592		9,081
Due after ten years	2,081,741		1,850,060		137,159		127,897
Totals	$	2,661,657	$	2,405,812	$	152,067	$	142,135

Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:

March 31, 2023:	Less than 12 months				12 months or more				Total
(in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	298,264	$	(18,024)	$	1,058,654	$	(156,305)	$	1,356,918	$	(174,329)
Obligations of states and political subdivisions	126,230		(7,797)		105,039		(21,130)		231,269		(28,927)
Corporate bonds	1,846		(135)		3,892		(292)		5,738		(427)
Asset backed securities	112,239		(1,994)		309,739		(10,919)		421,978		(12,913)
Non-agency collateralized mortgage obligations	73,343		(2,639)		248,617		(37,331)		321,960		(39,970)
Total debt securities available for sale	$	611,922	$	(30,589)	$	1,725,941	$	(225,977)	$	2,337,863	$	(256,566)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	41,389	$	(2,252)	$	97,370	$	(7,690)	$	138,759	$	(9,942)
Obligations of states and political subdivisions	1,050		(5)		—		—		1,050		(5)
Total debt securities held to maturity	$	42,439	$	(2,257)	$	97,370	$	(7,690)	$	139,809	$	(9,947)

December 31, 2022:	Less than 12 months				12 months or more				Total
(in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	605,615	$	(61,408)	$	766,612	$	(134,234)	$	1,372,227	$	(195,642)
Obligations of states and political subdivisions	219,532		(26,904)		43,282		(12,917)		262,814		(39,821)
Corporate bonds	5,751		(413)		—		—		5,751		(413)
Asset backed securities	231,703		(4,955)		205,329		(10,238)		437,032		(15,193)
Non-agency collateralized mortgage obligations	123,075		(3,421)		203,620		(36,480)		326,695		(39,901)
Total debt securities available for sale	$	1,185,676	(97,101)		$	1,218,843	$	(193,869)	$	2,404,519	$	(290,970)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	143,577	$	(11,013)	$	—	$	—	$	143,577	$	(11,013)
Obligations of states and political subdivisions	4,530		(47)		—		—		4,530		(47)
Total debt securities held to maturity	$	148,107	$	(11,060)	$	—	$	—	$	148,107	$	(11,060)

Obligations of U.S. government agencies: The unrealized losses on investments in obligations of U.S. government agencies are caused by interest rate increases and illiquidity. The contractual cash flows of these securities are guaranteed by U.S. Government Sponsored Entities (principally Fannie Mae and Freddie Mac). It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded. At March 31, 2023, 261 debt securities representing obligations of U.S. government agencies had unrealized losses with aggregate depreciation of 10.97% from the Company’s amortized cost basis.

Obligations of states and political subdivisions: The unrealized losses on investments in obligations of states and political subdivisions were caused by increases in required yields by investors in these types of securities. It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded as of March 31, 2023. At March 31, 2023, 159 debt securities representing obligations of states and political subdivisions had unrealized losses with aggregate depreciation of 11.07% from the Company’s amortized cost basis.

Corporate bonds: The unrealized losses on investments in corporate bonds were caused by increases in required yields by investors in these types of securities. It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded as of March 31, 2023. At March 31, 2023, 6 debt securities representing corporate bonds had unrealized losses with aggregate depreciation of 6.93% from the Company’s amortized cost basis.

Asset backed securities: The unrealized losses on investments in asset backed securities were caused by increases in required yields by investors for these types of securities. At the time of purchase, each of these securities was rated AA or AAA and through March 31, 2023

has not experienced any deterioration in credit rating. At March 31, 2023, 47 asset backed securities had unrealized losses with aggregate depreciation of 2.97% from the Company’s amortized cost basis. The Company continues to monitor these securities for changes in credit rating or other indications of credit deterioration. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded as of March 31, 2023.

Non-agency collateralized mortgage obligations: The unrealized losses on investments in asset backed securities were caused by increases in required yields by investors in these types of securities. It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses as of and for the year ended March 31, 2023. At March 31, 2023, 22 asset backed securities had unrealized losses with aggregate depreciation of 11.04% from the Company’s amortized cost basis.

The Company monitors credit quality of debt securities held-to-maturity through the use of credit rating. The Company monitors the credit rating on a monthly basis. The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator:

	March 31, 2023				December 31, 2022
(in thousands)	AAA/AA/A		BBB/BB/B		AAA/AA/A		BBB/BB/B
Obligations of U.S. government agencies	$	148,700	$	—	$	154,830	$	—
Obligations of states and political subdivisions	3,367		—		6,153		—
Total debt securities held to maturity	$	152,067	$	—	$	160,983	$	—

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Loans

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Loans

LoansA summary of loan balances at amortized cost are as follows:

(in thousands)	March 31, 2023		December 31, 2022
Commercial real estate:
CRE non-owner occupied	$	2,161,059	$	2,149,725
CRE owner occupied	971,210		984,807
Multifamily	946,693		944,537
Farmland	274,997		280,014
Total commercial real estate loans	4,353,959		4,359,083
Consumer:
SFR 1-4 1st DT liens	803,407		790,349
SFR HELOCs and junior liens	375,591		393,666
Other	54,799		56,728
Total consumer loans	1,233,797		1,240,743
Commercial and industrial	553,098		569,921
Construction	225,996		211,560
Agriculture production	47,062		61,414
Leases	8,509		7,726
Total loans, net of deferred loan fees and discounts	$	6,422,421	$	6,450,447
Total principal balance of loans owed, net of charge-offs	$	6,467,936	$	6,496,210
Unamortized net deferred loan fees	(16,423)		(15,275)
Discounts to principal balance of loans owed, net of charge-offs	(29,092)		(30,488)
Total loans, net of unamortized deferred loan fees and discounts	$	6,422,421	$	6,450,447
Allowance for credit losses on loans	$	(108,407)	$	(105,680)

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Allowance for Credit Losses

3 Months Ended

Mar. 31, 2023

Allowance For Loan And Lease Losses [Abstract]

Allowance for Credit Losses

Allowance for Credit Losses

For the periods indicated, the following tables summarize the activity in the allowance for credit losses on loans which is recorded as a contra asset, and the reserve for unfunded commitments which is recorded on the balance sheet within other liabilities:

	Allowance for credit losses – Three months ended March 31, 2023
(in thousands)	Beginning Balance		Charge-offs		Recoveries		Provision (benefit)		Ending  Balance
Commercial real estate:
CRE non-owner occupied	$	30,962	$	—	$	—	$	2,001	$	32,963
CRE owner occupied	14,014		—		—		545		14,559
Multifamily	13,132		—		—		741		13,873
Farmland	3,273		—		—		269		3,542
Total commercial real estate loans	61,381		—		—		3,556		64,937
Consumer:
SFR 1-4 1st DT liens	11,268		—		—		652		11,920
SFR HELOCs and junior liens	11,413		(42)		65		(522)		10,914
Other	1,958		(142)		51		195		2,062
Total consumer loans	24,639		(184)		116		325		24,896
Commercial and industrial	13,597		(1,574)		53		(7)		12,069
Construction	5,142		—		—		513		5,655
Agriculture production	906		—		1		(74)		833
Leases	15		—		—		2		17
Allowance for credit losses on loans	105,680		(1,758)		170		4,315		108,407
Reserve for unfunded commitments	4,315		—		—		(120)		4,195
Total	$	109,995	$	(1,758)	$	170	$	4,195	$	112,602

In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. To estimate expected losses the Company generally utilizes historical loss trends and the remaining contractual lives of the loan portfolios to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators including loan grade and borrower repayment performance have been statistically correlated with historical credit losses and various econometrics, including California unemployment, gross domestic product, and corporate bond yields. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results.

The Company utilizes a forecast period of approximately eight quarters and obtains the forecast data from publicly available sources as of the balance sheet date. This forecast data continues to evolve and included improving shifts in the magnitude of changes for both the unemployment and GDP factors leading up to the balance sheet date, particularly CA unemployment trends. As compared to historical norms, inflation remains elevated from continued disruptions in the supply chain, wage pressures, and higher living costs such as housing and food prices Despite the expected continued benefit to the net interest income of the Company from the elevated rate environment, Management notes the rapid intervals of rate increases by the Federal Reserve and flattening or inversion of the yield curve, have boosted expectations of the US entering a recession within 12 months. As a result, management continues to believe that certain credit weakness are likely present in the overall economy and that it is appropriate to cautiously maintain a reserve level that incorporates such risk factors.

Purchased loans and leases that reflect a more-than-insignificant deterioration of credit from origination are considered PCD. For PCD loans and leases, the initial estimate of expected credit losses is recognized in the ACL on the date of acquisition using the same methodology as other loans and leases held-for-investment. The following table provides a summary of loans and leases purchased as part of the VRB acquisition with credit deterioration at acquisition:

	As of March 25, 2022
(in thousands)	Commercial Real Estate		Consumer		Commercial and Industrial		Construction		Agriculture Production		Total
Par value	$	27,237	$	3,877	$	2,674	$	25,645	$	9,080	$	68,513
ACL at acquisition	(1,573)		(144)		(81)		(201)		(38)		(2,037)
Non-credit discount	(2,305)		(360)		(47)		(232)		(12)		(2,956)
Purchase price	$	23,359	$	3,373	$	2,546	$	25,212	$	9,030	$	63,520

For the periods indicated, the following tables summarize the activity in the allowance for credit losses on loans which is recorded as a contra asset, and the reserve for unfunded commitments which is recorded on the balance sheet within other liabilities:

	Allowance for credit losses – Year ended December 31, 2022
(in thousands)	Beginning Balance		ACL of PCD Loans		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Commercial real estate:
CRE non-owner occupied	$	25,739	$	746	$	—	$	1	$	4,476	$	30,962
CRE owner occupied	10,691		63		—		2		3,258		14,014
Multifamily	12,395		—		—		—		737		13,132
Farmland	2,315		764		(294)		—		488		3,273
Total commercial real estate loans	51,140		1,573		(294)		3		8,959		61,381
Consumer:
SFR 1-4 1st DT liens	10,723		144		—		79		322		11,268
SFR HELOCs and junior liens	10,510		—		(22)		429		496		11,413
Other	2,241		—		(572)		235		54		1,958
Total consumer loans	23,474		144		(594)		743		872		24,639
Commercial and industrial	3,862		81		(697)		1,157		9,194		13,597
Construction	5,667		201		—		—		(726)		5,142
Agriculture production	1,215		38		—		4		(351)		906
Leases	18		—		—		—		(3)		15
Allowance for credit losses on loans	85,376		2,037		(1,585)		1,907		17,945		105,680
Reserve for unfunded commitments	3,790		—		—		—		525		4,315
Total	$	89,166	$	2,037	$	(1,585)	$	1,907	$	18,470	$	109,995

	Allowance for credit losses – Three months ended March 31, 2022
(in thousands)	Beginning Balance		ACL of PCD Loans		Charge-offs		Recoveries		Provision		Ending Balance
Commercial real estate:
CRE non-owner occupied	$	25,739	$	746	$	—	$	—	$	1,570	$	28,055
CRE owner occupied	10,691		63		—		—		1,317		12,071
Multifamily	12,395		—		—		—		(408)		11,987
Farmland	2,315		764		(294)		—		94		2,879
Total commercial real estate loans	51,140		1,573		(294)		—		2,573		54,992
Consumer:
SFR 1-4 1st DT liens	10,723		144		—		40		(238)		10,669
SFR HELOCs and junior liens	10,510		—		—		175		158		10,843
Other	2,241		—		(119)		71		(26)		2,167
Total consumer loans	23,474		144		(119)		286		(106)		23,679
Commercial and industrial	3,862		81		(330)		887		4,542		9,042
Construction	5,667		201		—		—		1,569		7,437
Agriculture production	1,215		38		—		1		(371)		883
Leases	18		—		—		—		(2)		16
Allowance for credit losses on loans	85,376		2,037		(743)		1,174		8,205		96,049
Reserve for unfunded commitments	3,790		—		—		—		125		3,915
Total	$	89,166	$	2,037	$	(743)	$	1,174	$	8,330	$	99,964

As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including, but not limited to, trends relating to (i) the level of criticized and classified loans, (ii) net charge-offs, (iii) non-performing loans, and (iv) delinquency within the portfolio. The Company analyzes loans individually to classify the loans as to credit risk and grading. This analysis is performed annually for all outstanding balances greater than $1 million and non-homogeneous loans, such as commercial real

estate loans, unless other indicators, such as delinquency, trigger more frequent evaluation. Loans below the $1 million threshold and homogenous in nature are evaluated as needed for proper grading based on delinquency and borrower credit scores.

The Company utilizes a risk grading system to assign a risk grade to each of its loans. Loans are graded on a scale ranging from Pass to Loss. A description of the general characteristics of the risk grades is as follows:

•Pass – This grade represents loans ranging from acceptable to very little or no credit risk. These loans typically meet most if not all policy standards in regard to: loan amount as a percentage of collateral value, debt service coverage, profitability, leverage, and working capital.

•Special Mention – This grade represents “Other Assets Especially Mentioned” in accordance with regulatory guidelines and includes loans that display some potential weaknesses which, if left unaddressed, may result in deterioration of the repayment prospects for the asset or may inadequately protect the Company’s position in the future. These loans warrant more than normal supervision and attention.

•Substandard – This grade represents “Substandard” loans in accordance with regulatory guidelines. Loans within this rating typically exhibit weaknesses that are well defined to the point that repayment is jeopardized. Loss potential is, however, not necessarily evident. The underlying collateral supporting the credit appears to have sufficient value to protect the Company from loss of principal and accrued interest, or the loan has been written down to the point where this is true. There is a definite need for a well-defined workout/rehabilitation program.

•Doubtful – This grade represents “Doubtful” loans in accordance with regulatory guidelines. An asset classified as Doubtful has all the weaknesses inherent in a loan classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and financing plans.

•Loss – This grade represents “Loss” loans in accordance with regulatory guidelines. A loan classified as Loss is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan, even though some recovery may be affected in the future. The portion of the loan that is graded loss should be charged off no later than the end of the quarter in which the loss is identified.

Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the period indicated:

	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2023
(in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate:
CRE non-owner occupied risk ratings
Pass	$	29,991	$	412,225	$	293,358	$	152,186	$	225,912	$	868,576	$	120,771	$	—	$	2,103,019
Special Mention	—		—		7,430		—		19,905		25,555		1,556		—		54,446
Substandard	—		—		827		743		218		1,806		—		—		3,594
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	29,991	$	412,225	$	301,615	$	152,929	$	246,035	$	895,937	$	122,327	$	—	$	2,161,059
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate:
CRE owner occupied risk ratings
Pass	$	17,630	$	201,342	$	194,894	$	121,856	$	63,323	$	291,219	$	33,526	$	—	$	923,790
Special Mention	—		131		16,818		232		724		7,794		838		—		26,537
Substandard	—		3,153		—		5,217		1,877		10,479		157		—		20,883
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	17,630	$	204,626	$	211,712	$	127,305	$	65,924	$	309,492	$	34,521	$	—	$	971,210
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2023
(in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate:
Multifamily risk ratings
Pass	$	2,849	$	178,177	$	289,301	$	95,352	$	108,051	$	239,322	$	33,524	$	—	$	946,576
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		117		—		—		117
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	2,849	$	178,177	$	289,301	$	95,352	$	108,051	$	239,439	$	33,524	$	—	$	946,693
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate:
Farmland risk ratings
Pass	$	14,429	$	46,353	$	53,146	$	16,430	$	18,037	$	46,924	$	52,382	$	—	$	247,701
Special Mention	—		3,140		—		304		5,000		3,386		—		—		11,830
Substandard	—		—		775		371		—		10,837		3,483		—		15,466
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	14,429	$	49,493	$	53,921	$	17,105	$	23,037	$	61,147	$	55,865	$	—	$	274,997
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer loans:
SFR 1-4 1st DT liens risk ratings
Pass	$	15,719	$	193,110	$	271,654	$	127,830	$	32,755	$	141,016	$	8	$	3,506	$	785,598
Special Mention	—		1,079		—		3,234		280		8,662		—		67		13,322
Substandard	—		—		1,189		—		—		2,667		—		631		4,487
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	15,719	$	194,189	$	272,843	$	131,064	$	33,035	$	152,345	$	8	$	4,204	$	803,407
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer loans:
SFR HELOCs and Junior Liens
Pass	$	360	$	—	$	—	$	—	$	—	$	119	$	362,806	$	7,858	$	371,143
Special Mention	—		—		—		—		—		—		646		23		669
Substandard	—		—		—		—		—		—		3,159		620		3,779
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	360	$	—	$	—	$	—	$	—	$	119	$	366,611	$	8,501	$	375,591
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	43	$	43

Consumer loans:
Other risk ratings
Pass	$	4,305	$	11,888	$	12,044	$	9,376	$	9,680	$	6,274	$	588	$	—	$	54,155
Special Mention	—		—		13		64		130		200		16		—		423
Substandard	—		—		—		42		70		87		22		—		221
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	4,305	$	11,888	$	12,057	$	9,482	$	9,880	$	6,561	$	626	$	—	$	54,799
Current period gross write-offs	$	96	$	6	$	—	$	—	$	29	$	7	$	3	$	—	$	141

	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2023
(in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial and industrial loans:
Commercial and industrial risk ratings
Pass	$	34,754	$	107,807	$	64,490	$	15,801	$	20,277	$	11,093	$	273,269	$	402	$	527,893
Special Mention	44		2,750		60		20		29		1,037		9,453		—		13,393
Substandard	—		1,223		1,869		3,235		11		298		5,076		100		11,812
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	34,798	$	111,780	$	66,419	$	19,056	$	20,317	$	12,428	$	287,798	$	502	$	553,098
Current period gross write-offs	$	6	$	—	$	—	$	1,550	$	—	$	—	$	—	$	18	$	1,574

Construction loans:
Construction risk ratings
Pass	$	10,823	$	93,294	$	67,911	$	41,776	$	4,904	$	6,736	$	—	$	—	$	225,444
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		458		94		—		—		552
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	10,823	$	93,294	$	67,911	$	41,776	$	5,362	$	6,830	$	—	$	—	$	225,996
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Agriculture production loans:
Agriculture production risk ratings
Pass	$	50	$	3,140	$	2,567	$	1,003	$	929	$	9,755	$	21,690	$	—	$	39,134
Special Mention	—		—		—		—		—		103		4,769		—		4,872
Substandard	—		—		—		—		—		—		3,056		—		3,056
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	50	$	3,140	$	2,567	$	1,003	$	929	$	9,858	$	29,515	$	—	$	47,062
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Leases:
Lease risk ratings
Pass	$	8,509	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$8,509
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	8,509	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	8,509
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total loans outstanding:
Risk ratings
Pass	$	139,419	$	1,247,336	$	1,249,365	$	581,610	$	483,868	$	1,621,034	$	898,564	$	11,766	$	6,232,962
Special Mention	44		7,100		24,321		3,854		26,068		46,737		17,278		90		125,492
Substandard	—		4,376		4,660		9,608		2,634		26,385		14,953		1,351		63,967
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	139,463	$	1,258,812	$	1,278,346	$	595,072	$	512,570	$	1,694,156	$	930,795	$	13,207	$	6,422,421
Current period gross write-offs	$	102	$	6	$	—	$	1,550	$	29	$	7	$	3	$	61	$	1,758

	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022
(in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate:
CRE non-owner occupied risk ratings
Pass	$	399,910	$	304,636	$	152,960	$	221,659	$	147,842	$	748,994	$	123,794	$	—	$	2,099,795
Special Mention	—		—		—		20,033		—		21,681		1,346		—		43,060
Substandard	—		864		768		—		1,059		4,179		—		—		6,870
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	399,910	$	305,500	$	153,728	$	241,692	$	148,901	$	774,854	$	125,140	$	—	$	2,149,725

Commercial real estate:
CRE owner occupied risk ratings
Pass	$	210,101	$	197,787	$	120,929	$	64,244	$	49,755	$	251,137	$	43,343	$	—	$	937,296
Special Mention	131		16,296		234		731		—		6,971		879		—		25,242
Substandard	3,213		—		5,249		1,893		1,103		10,654		157		—		22,269
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	213,445	$	214,083	$	126,412	$	66,868	$	50,858	$	268,762	$	44,379	$	—	$	984,807

Commercial real estate:
Multifamily risk ratings
Pass	$	159,318	$	290,170	$	96,937	$	108,586	$	106,287	$	154,125	$	28,989	$	—	$	944,412
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		125		—		—		125
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	159,318	$	290,170	$	96,937	$	108,586	$	106,287	$	154,250	$	28,989	$	—	$	944,537

Commercial real estate:
Farmland risk ratings
Pass	$	47,067	$	53,275	$	16,739	$	18,589	$	12,386	$	34,528	$	53,684	$	—	$	236,268
Special Mention	3,139		783		246		5,000		—		3,991		14,275		—		27,434
Substandard	—		—		1,772		765		3,158		7,094		3,523		—		16,312
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	50,206	$	54,058	$	18,757	$	24,354	$	15,544	$	45,613	$	71,482	$	—	$	280,014

Consumer loans:
SFR 1-4 1st DT liens risk ratings
Pass	$	194,933	$	265,370	$	131,922	$	33,395	$	28,545	$	115,469	$	8	$	2,924	$	772,566
Special Mention	—		—		1,531		282		3,277		5,854		—		465		11,409
Substandard	—		1,204		—		—		1,004		3,521		—		645		6,374
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	194,933	$	266,574	$	133,453	$	33,677	$	32,826	$	124,844	$	8	$	4,034	$	790,349

	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022
(in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Consumer loans:
SFR HELOCs and Junior Liens
Pass	$	505	$	—	$	—	$	—	$	—	$	127	$	378,939	$	8,462	$	388,033
Special Mention	—		—		—		—		—		—		1,842		81		1,923
Substandard	—		—		—		—		—		—		3,072		638		3,710
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	505	$	—	$	—	$	—	$	—	$	127	$	383,853	$	9,181	$	393,666

Consumer loans:
Other risk ratings
Pass	$	14,070	$	12,990	$	10,211	$	10,650	$	5,225	$	1,945	$	899	$	—	$	55,990
Special Mention	—		18		77		135		176		32		47		—		485
Substandard	—		—		42		92		—		96		23		—		253
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	14,070	$	13,008	$	10,330	$	10,877	$	5,401	$	2,073	$	969	$	—	$	56,728

Commercial and industrial loans:
Commercial and industrial risk ratings
Pass	$	125,710	$	64,966	$	17,746	$	23,131	$	7,628	$	5,051	$	297,341	$	483	$	542,056
Special Mention	3,032		139		21		49		138		768		11,547		—		15,694
Substandard	1,293		1,142		5,179		14		33		611		3,798		101		12,171
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	130,035	$	66,247	$	22,946	$	23,194	$	7,799	$	6,430	$	312,686	$	584	$	569,921

Construction loans:
Construction risk ratings
Pass	$	72,840	$	72,308	$	43,409	$	15,358	$	2,159	$	4,900	$	—	$	—	$	210,974
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		457		—		129		—		—		586
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	72,840	$	72,308	$	43,409	$	15,815	$	2,159	$	5,029	$	—	$	—	$	211,560

Agriculture production loans:
Agriculture production risk ratings
Pass	$	3,414	$	2,777	$	1,149	$	1,104	$	8,902	$	1,058	$	38,425	$	—	$	56,829
Special Mention	—		—		—		—		90		31		1,632		—		1,753
Substandard	—		—		—		—		—		—		2,832		—		2,832
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	3,414	$	2,777	$	1,149	$	1,104	$	8,992	$	1,089	$	42,889	$	—	$	61,414

	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022
(in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Leases:
Lease risk ratings
Pass	$	7,726	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	7,726
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	7,726	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	7,726

Total loans outstanding:
Risk ratings
Pass	$	1,235,594	$	1,264,279	$	592,002	$	496,716	$	368,729	$	1,317,334	$	965,422	$	11,869	$	6,251,945
Special Mention	6,302		17,236		2,109		26,230		3,681		39,328		31,568		546		127,000
Substandard	4,506		3,210		13,010		3,221		6,357		26,409		13,405		1,384		71,502
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	1,246,402	$	1,284,725	$	607,121	$	526,167	$	378,767	$	1,383,071	$	1,010,395	$	13,799	$	6,450,447

The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:

	Analysis of Past Due Loans - As of March 31, 2023
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Commercial real estate:
CRE non-owner occupied	$	623	$	—	$	—	$	623	$	2,160,436	$	2,161,059
CRE owner occupied	156		82		172		410		970,800		971,210
Multifamily	—		—		—		—		946,693		946,693
Farmland	150		—		—		150		274,847		274,997
Total commercial real estate loans	929		82		172		1,183		4,352,776		4,353,959
Consumer:
SFR 1-4 1st DT liens	442		557		356		1,355		802,052		803,407
SFR HELOCs and junior liens	—		1,342		793		2,135		373,456		375,591
Other	49		136		121		306		54,493		54,799
Total consumer loans	491		2,035		1,270		3,796		1,230,001		1,233,797
Commercial and industrial	471		1,620		364		2,455		550,643		553,098
Construction	—		78		379		457		225,539		225,996
Agriculture production	—		—		—		—		47,062		47,062
Leases	—		—		—		—		8,509		8,509
Total	$	1,891	$	3,815	$	2,185	$	7,891	$	6,414,530	$	6,422,421

	Analysis of Past Due Loans - As of December 31, 2022
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Commercial real estate:
CRE non-owner occupied	$	—	$	—	$	—	$	—	$	2,149,725	$	2,149,725
CRE owner occupied	—		98		75		173		984,634		984,807
Multifamily	159		—		—		159		944,378		944,537
Farmland	—		—		—		—		280,014		280,014
Total commercial real estate loans	159		98		75		332		4,358,751		4,359,083
Consumer:
SFR 1-4 1st DT liens	24		—		279		303		790,046		790,349
SFR HELOCs and junior liens	172		166		707		1,045		392,621		393,666
Other	26		34		55		115		56,613		56,728
Total consumer loans	222		200		1,041		1,463		1,239,280		1,240,743
Commercial and industrial	2,300		190		283		2,773		567,148		569,921
Construction	—		—		379		379		211,181		211,560
Agriculture production	—		—		—		—		61,414		61,414
Leases	—		—		—		—		7,726		7,726
Total	$	2,681	$	488	$	1,778	$	4,947	$	6,445,500	$	6,450,447

The following table shows the ending balance of non accrual loans by loan category as of the date indicated:

	Non Accrual Loans
	As of March 31, 2023						As of December 31, 2022
(in thousands)	Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing		Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing
Commercial real estate:
CRE non-owner occupied	$	1,671	$	1,671	$	—	$	1,739	$	1,739	$	—
CRE owner occupied	3,848		3,848		—		4,938		4,938		—
Multifamily	117		117		—		125		125		—
Farmland	371		371		—		1,772		1,772		—
Total commercial real estate loans	6,007		6,007		—		8,574		8,574		—
Consumer:
SFR 1-4 1st DT liens	3,532		3,532		—		4,117		4,220		—
SFR HELOCs and junior liens	2,790		3,373		—		2,498		3,155		—
Other	78		139		—		47		84		—
Total consumer loans	6,400		7,044		—		6,662		7,459		—
Commercial and industrial	95		1,372		189		1,224		3,518		—
Construction	457		457		—		491		491		—
Agriculture production	957		957		—		1,279		1,279		—
Leases	—		—		—		—		—		—
Sub-total	13,916		15,837		189		18,230		21,321		—
Less: Guaranteed loans	(75)		(230)		—		(105)		(225)
Total, net	$	13,841	$	15,607	$	189	$	18,125	$	21,096	$	—

Interest income on non accrual loans that would have been recognized during the three months ended March 31, 2023 and 2022, if all such loans had been current in accordance with their original terms, totaled $0.32 million and $0.17 million, respectively. Interest income actually recognized on these originated loans during the three months ended March 31, 2023 and 2022 was $17 thousand and $13 thousand, respectively.

The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods:

	As of March 31, 2023
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR-1st Deed		SFR-2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Total
Commercial real estate:
CRE non-owner occupied	$	749	$	95	$	—	$	827	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1,671
CRE owner occupied	523		75		—		3,250		—		—		—		—		—		—		—		3,848
Multifamily	—		—		—		—		117		—		—		—		—		—		—		117
Farmland	—		—		—		—		—		371		—		—		—		—		—		371
Total commercial real estate loans	1,272		170		—		4,077		117		371		—		—		—		—		—		6,007
Consumer:
SFR 1-4 1st DT liens	—		—		—		—		—		—		3,532		—		—		—		—		3,532
SFR HELOCs and junior liens	—		—		—		—		—		—		1,705		1,308		—		—		—		3,013
Other	—		—		—		4		—		—		—		—		124		—		2		130
Total consumer loans	—		—		—		4		—		—		5,237		1,308		124		—		2		6,675
Commercial and industrial	—		—		—		—		—		—		—		—		—		1,298		74		1,372
Construction	—		—		—		379		—		—		78		—		—		—		—		457
Agriculture production	—		—		—		—		—		—		—		—		—		—		957		957
Leases	—		—		—		—		—		—		—		—		—		—		—		—
Total	$	1,272	$	170	$	—	$	4,460	$	117	$	371	$	5,315	$	1,308	$	124	$	1,298	$	1,033	$	15,468

	As of December 31, 2022
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR -1st Deed		SFR -2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Total
Commercial real estate:
CRE non-owner occupied	$	777	$	98	$	—	$	864	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1,739
CRE owner occupied	548		75		1,103		3,212		—		—		—		—		—		—		—		4,938
Multifamily	—		—		—		—		125		—		—		—		—		—		—		125
Farmland	—		—		—		—		—		1,772		—		—		—		—		—		1,772
Total commercial real estate loans	1,325		173		1,103		4,076		125		1,772		—		—		—		—		—		8,574
Consumer:
SFR 1-4 1st DT liens	—		—		—		—		—		—		4,220		—		—		—		—		4,220
SFR HELOCs and junior liens	—		—		—		—		—		—		1,664		1,121		—		—		—		2,785
Other	—		—		—		5		—		—		—		—		61		—		2		68
Total consumer loans	—		—		—		5		—		—		5,884		1,121		61		—		2		7,073
Commercial and industrial	—		—		—		1,874		—		—		—		—		—		1,596		48		3,518
Construction	—		—		—		379		—		—		112		—		—		—		—		491
Agriculture production	—		—		—		—		—		—		—		—		—		—		1,279		1,279
Leases	—		—		—		—		—		—		—		—		—		—		—		—
Total	$	1,325	$	173	$	1,103	$	6,334	$	125	$	1,772	$	5,996	$	1,121	$	61	$	1,596	$	1,329	$	20,935

Modifications to borrowers experiencing financial difficulty may include interest rate reductions, principal or interest forgiveness, forbearances, term extensions, and other actions intended to minimize economic loss and to avoid foreclosure or repossession of collateral.

The following tables show the amortized cost basis of loans that were both experiencing financial difficulty and modified during the periods presented. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivables is also presented below.

	For the three months ended March 31, 2023
(in thousands)	Payment Delay/Term Extension		Total % of Loans Outstanding
Commercial real estate:
CRE non-owner occupied	$	—	—	%
CRE owner occupied	—		—
Multifamily	—		—
Farmland	—		—
Total commercial real estate loans	—		—
Consumer:
SFR 1-4 1st DT liens	—		—
SFR HELOCs and junior liens	—		—
Other	—		—
Total consumer loans	—		—
Commercial and industrial	177		0.03
Construction	—		—
Agriculture production	—		—
Leases	—		—
Total	$	177	0.03	%

The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the quarter ended March 31, 2023.

	Weighted Average Months Term Extension
Commercial and industrial	12

There were no loans with payment defaults by borrowers experiencing financial difficulty during the quarter ended March 31, 2023 which had material modifications in rate, term or principal forgiveness during the twelve months prior to default.

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Leases

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Leases

Leases

The Company records a ROUA on the consolidated balance sheets for those leases that convey rights to control use of identified assets for a period of time in exchange for consideration. The Company also records a lease liability on the consolidated balance sheets for the present value of future payment commitments. All of the Company’s leases are comprised of operating leases in which the Company is lessee of real estate property for branches, ATM locations, and general administration and operations. The Company has elected not to include short-term leases (i.e. leases with initial terms of 12 month or less) within the ROUA and lease liability. Known or determinable adjustments to the required minimum future lease payments were included in the calculation of the Company’s ROUA and lease liability. Adjustments to the required minimum future lease payments that are variable and will not be determinable until a future period, such as changes in the consumer price index, are included as variable lease costs. Additionally, expected variable payments for common area maintenance, taxes and insurance were unknown and not determinable at lease commencement and therefore, were not included in the determination of the Company’s ROUA or lease liability.

The value of the ROUA and lease liability is impacted by the amount of the periodic payment required, length of the lease term, and the discount rate used to calculate the present value of the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. The lease liability is reduced based on the discounted present value of remaining payments as of each reporting period. The ROUA value is measured using the amount of lease liability and adjusted for prepaid or accrued lease payments, remaining lease incentives, unamortized direct costs (if any), and impairment (if any).

The following table presents the components of lease expense for the periods ended:

	Three months ended March 31,
(in thousands)	2023		2022
Operating lease cost	$	1,609	$	1,319
Short-term lease cost	118		53
Variable lease cost	12		2
Sublease income	—		—
Total lease cost	$	1,739	$	1,374

The following table presents supplemental cash flow information related to leases for the periods ended:

	Three months ended March 31,
(in thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,653	$	1,292
ROUA obtained in exchange for operating lease liabilities	$	4,484	$	3,867

The following table presents the weighted average operating lease term and discount rate as of the period ended:

	March 31,
	2023		2022
Weighted-average remaining lease term (years)	8.3		8.8
Weighted-average discount rate	3.27	%	2.90	%

At March 31, 2023, future expected operating lease payments are as follows:

(in thousands)
Periods ending December 31,
2023	$	4,505
2024	5,798
2025	5,229
2026	4,688
2027	4,001
Thereafter	13,071
	37,292
Discount for present value of expected cash flows	(5,064)
Lease liability at March 31, 2023	$	32,228

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Deposits

3 Months Ended

Mar. 31, 2023

Deposits [Abstract]

Deposits

Deposits

A summary of the balances of deposits follows:

(in thousands)	March 31, 2023		December 31, 2022
Noninterest-bearing demand	$	3,236,696	$	3,502,095
Interest-bearing demand	1,635,706		1,718,541
Savings	2,807,796		2,884,378
Time certificates, $250,000 or more	94,917		46,350
Other time certificates	250,750		177,649
Total deposits	$	8,025,865	$	8,329,013

Overdrawn deposit balances of $1.4 million and $1.8 million were classified as consumer loans at March 31, 2023 and December 31, 2022, respectively.

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Subordinated Debentures

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Subordinated Debentures

Subordinated Debentures

The following table summarizes the terms and recorded balances of each debenture as of the date indicated (dollars in thousands):

				Coupon Rate (Variable) 3 mo. LIBOR +		As of March 31, 2023				As of December 31, 2022
Subordinated Debt Series	Maturity Date	Face Value				Current Coupon Rate		Recorded Book Value		Recorded Book Value
TriCo Cap Trust I	10/7/2033	$	20,619	3.05	%	7.88	%	$	20,619	$	20,619
TriCo Cap Trust II	7/23/2034	20,619		2.55	%	7.36	%	20,619		20,619
North Valley Trust II	4/24/2033	6,186		3.25	%	8.06	%	5,527		5,503
North Valley Trust III	7/23/2034	5,155		2.80	%	7.61	%	4,404		4,383
North Valley Trust IV	3/15/2036	10,310		1.33	%	6.19	%	7,446		7,393
VRB Subordinated - 6%	3/29/2029	16,000		Fixed		6.00	%	17,140		17,187
VRB Subordinated - 5%	8/27/2035	20,000		Fixed		5.00	%	25,296		25,336
		$	98,889					$	101,051	$	101,040

The VRB - 6% Subordinated Debt issuance has a fixed rate of 6.0% through March 29, 2024, then indexed to the three-month LIBOR plus 3.5% through the maturity date. The VRB - 5% Subordinated Debt issuance is fixed at 5.0% through August 27, 2025, then indexed to the three-month LIBOR plus 4.9% through the maturity date.

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Commitments and Contingencies

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and ContingenciesThe following table presents a summary of the Bank’s commitments and contingent liabilities:

(in thousands)	March 31, 2023		December 31, 2022
Financial instruments whose amounts represent risk:
Commitments to extend credit:
Commercial loans	$	726,505	$	656,705
Consumer loans	751,193		760,588
Real estate mortgage loans	473,894		458,896
Real estate construction loans	307,152		312,371
Standby letters of credit	24,070		26,599
Deposit account overdraft privilege	129,147		126,634

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Shareholders' Equity

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

Dividends Paid

The Bank paid to the Company cash dividends in the aggregate amounts of $18.2 million and $7.8 million during the three months ended March 31, 2023 and 2022, respectively. The Bank is regulated by the FDIC and the DFPI. Absent approval from the Commissioner of the DFPI, California banking laws generally limit the Bank’s ability to pay dividends to the lesser of (1) retained earnings or (2) net income for the last three fiscal years, less cash distributions paid during such period.

Stock Repurchase Plan

On February 25, 2021 the Board of Directors authorized the repurchase of up to 2.0 million shares of the Company's common stock (the 2021 Repurchase Plan), which approximated 6.7% of the shares outstanding as of the approval date. The actual timing of any share repurchases can be determined by the Company's management and therefore the total value of the shares to be purchased under the 2021 Repurchase Plan is subject to change. The 2021 Repurchase Plan has no expiration date (in accordance with applicable laws and regulations). During the three months ended March 31, 2023 and 2022, the Company repurchased 150,000 and zero shares with market values of $7.0 million and $0, respectively.

Stock Repurchased Under Equity Compensation Plans

The Company's shareholder-approved equity compensation plans permit employees to tender recently vested shares in lieu of cash for the payment of exercise price, if applicable, and the tax withholding on such shares. During the three months ended March 31, 2023 and 2022, exercising option holders tendered zero shares, respectively, of the Company’s common stock in connection with option exercises.

Employees also tendered 12,381 and zero shares in connection with the tax withholding requirements of other share based awards during the three months ended March 31, 2023 and 2022, respectively. In total, shares of the Company's common stock tendered had market values of $0.62 million and $0 during the quarters ended March 31, 2023 and 2022, respectively. The tendered shares were retired. The market value of tendered shares is the last market trade price at closing on the day an option is exercised or the other share based award vests. Stock repurchased under equity incentive plans are not included in the total of stock repurchased under the 2021 Stock Repurchase Plans.

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Stock Options and Other Equity-Based Incentive Instruments

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock Options and Other Equity-Based Incentive Instruments

Stock Options and Other Equity-Based Incentive Instruments

On April 16, 2019, the Board of Directors adopted the 2019 Equity Incentive Plan (2019 Plan) which was approved by shareholders on May 21, 2019. The 2019 Plan allows for up to 1,500,000 shares to be issued in connection with equity-based incentives. The Company’s 2009 Equity Incentive Plan (2009 Plan) expired on March 26, 2019. While no new awards can be granted under the 2009 Plan, existing grants continue to be governed by the terms, conditions and procedures set forth in any applicable award agreement.

Stock option activity during the three months ended March 31, 2023 is summarized in the following table:

	Number of Shares	Weighted Average Exercise Price
Outstanding at December 31, 2022	15,500	$	21.27
Options granted	—	—
Options exercised	(4,000)	19.46
Options forfeited	—	—
Outstanding at March 31, 2023	11,500	$	21.90

The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of March 31, 2023:

	Currently Exercisable		Currently Not Exercisable		Total Outstanding
Number of options	11,500		—		11,500
Weighted average exercise price	$	21.90	$	—	$	21.90
Intrinsic value (in thousands)	$	226	$	—	$	226
Weighted average remaining contractual term (yrs.)	1.0		0 years		1.0

As of March 31, 2023 all options outstanding are fully vested and are expected to be exercised prior to expiration. The Company did not modify any option grants during 2022 or the three months ended March 31, 2023.

Activity related to restricted stock unit awards during the three months ended March 31, 2023 is summarized in the following table:

	Service Condition Vesting RSUs	Market Plus Service Condition Vesting RSUs
Outstanding at December 31, 2022	139,194	114,481
RSUs granted	—	—
RSUs added through dividend and performance credits	817	—
RSUs released	(22,118)	—
RSUs forfeited/expired	—	—
Outstanding at March 31, 2023	117,893	114,481

The 117,893 of service condition vesting RSUs outstanding as of March 31, 2023 include a feature whereby each RSU outstanding is credited with a dividend amount equal to any common stock cash dividend declared and paid, and the credited amount is divided by the closing price of the Company’s stock on the dividend payable date to arrive at an additional amount of RSUs outstanding under the original grant. The dividend credits follow the same vesting requirements as the RSU awards and are not considered participating securities. The 117,893 of service condition vesting RSUs outstanding as of March 31, 2023 are expected to vest, and be released, on a weighted-average basis, over the next 2.1 years. The Company expects to recognize $3.1 million of pre-tax compensation costs related to these service condition vesting RSUs between March 31, 2023 and their vesting dates. The Company did not modify any service condition vesting RSUs during 2022 or during the three months ended March 31, 2023.

The 114,481 of market plus service condition vesting RSUs outstanding as of March 31, 2023 are expected to vest, and be released, on a weighted-average basis, over the next 2.1 years. The Company expects to recognize $1.8 million of pre-tax compensation costs related to these RSUs between March 31, 2023 and their vesting dates. As of March 31, 2023, the number of market plus service condition vesting

RSUs outstanding that will actually vest, and be released, may be reduced to zero or increased to 171,722 depending on the total return of the Company’s common stock versus the total return of an index of bank stocks from the grant date to the vesting date. The Company did not modify any market plus service condition vesting RSUs during 2022 or during the three months ended March 31, 2023

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Non-interest Income and Expense

3 Months Ended

Mar. 31, 2023

Other Income and Expenses [Abstract]

Non-interest Income and Expense

Non-interest Income and Expense

The following table summarizes the Company’s non-interest income for the periods indicated:

	Three months ended March 31,
(in thousands)	2023		2022
ATM and interchange fees	$	6,344	$	6,243
Service charges on deposit accounts	3,431		3,834
Other service fees	1,166		882
Mortgage banking service fees	465		463
Change in value of mortgage servicing rights	(209)		274
Total service charges and fees	11,197		11,696
Increase in cash value of life insurance	802		638
Asset management and commission income	934		887
Gain on sale of loans	206		1,246
Lease brokerage income	98		158
Sale of customer checks	288		104
Loss on sale of investment securities	(164)		—
Gain (loss) on marketable equity securities	42		(137)
Other	232		504
Total other non-interest income	2,438		3,400
Total non-interest income	$	13,635	$	15,096

The components of non-interest expense were as follows:

	Three months ended March 31,
(in thousands)	2023		2022
Base salaries, net of deferred loan origination costs	$	23,000	$	18,216
Incentive compensation	2,895		2,583
Benefits and other compensation costs	6,668		5,972
Total salaries and benefits expense	32,563		26,771
Occupancy	4,160		3,575
Data processing and software	4,032		3,513
Equipment	1,383		1,333
Intangible amortization	1,656		1,228
Advertising	759		637
ATM and POS network charges	1,709		1,375
Professional fees	1,589		876
Telecommunications	595		521
Regulatory assessments and insurance	792		720
Merger and acquisition expense	—		4,032
Postage	299		228
Operational (gain) losses	435		(183)
Courier service	339		414
Gain on disposal of fixed assets	—		(1,078)
Other miscellaneous expense	3,483		2,485
Total other non-interest expense	21,231		19,676
Total non-interest expense	$	53,794	$	46,447

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Earnings Per Share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per ShareBasic earnings per share represent income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock units (RSUs), and are determined using the treasury stock method. Earnings per share have been computed based on the following:

	Three months ended March 31,
(in thousands)	2023		2022
Net income	$	35,833	$	20,374
Average number of common shares outstanding	33,296		30,050
Effect of dilutive stock options and restricted stock	142		152
Average number of common shares outstanding used to calculate diluted earnings per share	33,438		30,202
Options excluded from diluted earnings per share because of their antidilutive effect	—		—

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Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Comprehensive Income (Loss)

Comprehensive Income (Loss)

Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the balance sheet identified as accumulated other comprehensive income (AOCI), such items, along with net income, are components of other comprehensive income (loss) (OCI).

The components of other comprehensive income (loss) and related tax effects are as follows:

	Three months ended March 31,
(in thousands)	2023		2022
Unrealized holding gains (losses) on available for sale securities before reclassifications	$	34,540	$	(111,302)
Amounts reclassified out of AOCI:
Realized loss on debt securities	164		—
Unrealized holding gains (losses) on available for sale securities after reclassifications	34,704		(111,302)
Tax effect	(10,260)		32,905
Unrealized holding gains (losses) on available for sale securities, net of tax	24,444		(78,397)
Change in unfunded status of the supplemental retirement plans before reclassifications	114		63
Amounts reclassified out of AOCI:
Amortization of prior service cost	—		(7)
Amortization of actuarial losses	(114)		2
Total amounts reclassified out of accumulated other comprehensive (loss) income	(114)		(5)
Change in unfunded status of the supplemental retirement plans after reclassifications	—		58
Tax effect	—		—
Change in unfunded status of the supplemental retirement plans, net of tax	—		58
Change in joint beneficiary agreement liability before reclassifications	—		—
Tax effect	—		—
Change in joint beneficiary agreement liability before reclassifications, net of tax	—		—
Total other comprehensive income (loss)	$	24,444	$	(78,339)

The components of accumulated other comprehensive loss, included in shareholders’ equity, are as follows:

(in thousands)	March 31, 2023		December 31, 2022
Net unrealized gain on available for sale securities	$	(255,845)	$	(290,549)
Tax effect	75,637		85,897
Unrealized holding gain on available for sale securities, net of tax	(180,208)		(204,652)
Unfunded status of the supplemental retirement plans	13,901		13,901
Tax effect	(4,110)		(4,110)
Unfunded status of the supplemental retirement plans, net of tax	9,791		9,791
Joint beneficiary agreement liability	956		956
Tax effect	—		—
Joint beneficiary agreement liability, net of tax	956		956
Accumulated other comprehensive loss	$	(169,461)	$	(193,905)

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Fair Value Measurement

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurement

Fair Value Measurement

The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In estimating fair value, the Company utilizes valuation techniques that are consistent with the market approach, income approach, and/or the cost approach. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset and the risk of nonperformance. Marketable equity securities, debt securities available-for-sale, loans held for sale, and mortgage servicing rights are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application impairment write-downs of individual assets.

The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observable nature of the assumptions used to determine fair value. These levels are:

Level 1 - Valuation is based upon quoted prices for identical instruments traded in active markets.

Level 2 - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3 - Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.

Marketable equity securities and debt securities available for sale - Marketable equity securities and debt securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include mortgage-backed securities issued by government sponsored entities, municipal bonds and corporate debt securities. The Company had no securities classified as Level 3 during any of the periods covered in these financial statements.

Loans held for sale - Loans held for sale are carried at the lower of cost or fair value. The fair value of loans held for sale is based on what secondary markets are currently offering for loans with similar characteristics. As such, we classify those loans subjected to recurring fair value adjustments as Level 2.

Individually evaluated loans - Loans are not recorded at fair value on a recurring basis. However, from time to time, certain loans have individual risk characteristics not consistent with a pool of loans and is individually evaluated for credit reserves. Loans for which it is probable that payment of interest and principal will not be made in accordance with the original contractual terms of the loan agreement are typically individually evaluated. The fair value of these loans are estimated using one of several methods, including collateral value, fair value of similar debt, enterprise value, liquidation value and discounted cash flows. Those loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. Loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. When the fair value of the collateral is based on an observable market price or a current appraised value which uses substantially observable data, the Company records the loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value, or the appraised value contains a significant unobservable assumption, such as deviations from

comparable sales, and there is no observable market price, the Company records the loan as nonrecurring Level 3.

Foreclosed assets - Foreclosed assets include assets acquired through, or in lieu of, loan foreclosure. Foreclosed assets are held for sale and are initially recorded at fair value at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, management periodically performs valuations and the assets are carried at the lower of carrying amount or fair value less cost to sell. When the fair value of foreclosed assets is based on an observable market price or a current appraised value which uses substantially observable data, the Company records the loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value, or the appraised value contains a significant unobservable assumption, such as deviations from comparable sales, and there is no observable market price, the Company records the foreclosed asset as nonrecurring Level 3. Revenue and expenses from operations and changes in the valuation allowance are included in other non-interest expense.

Mortgage servicing rights - Mortgage servicing rights are carried at fair value. A valuation model, which utilizes a discounted cash flow analysis using a discount rate and prepayment speed assumptions is used in the computation of the fair value measurement. While the prepayment speed assumption is currently quoted for comparable instruments, the discount rate assumption currently requires a significant degree of management judgment and is therefore considered an unobservable input. As such, the Company classifies mortgage servicing rights subjected to recurring fair value adjustments as Level 3.

The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands):

Fair value at March 31, 2023	Total		Level 1		Level 2		Level 3
Marketable equity securities	$	2,640	$	2,640
Debt securities available for sale:
Obligations of U.S. government corporations and agencies	1,357,435				1,357,435
Obligations of states and political subdivisions	279,900				279,900
Corporate bonds	5,738				5,738
Asset backed securities	427,364				427,364
Non-agency mortgage backed securities	335,375				335,375
Loans held for sale	226				226
Mortgage servicing rights	6,553						6,553
Total assets measured at fair value	$	2,415,231	$	2,640	$	2,406,038	$	6,553

Fair value at December 31, 2022	Total		Level 1		Level 2		Level 3
Marketable equity securities	$	2,598	$	2,598	$	—	$	—
Debt securities available for sale:
Obligations of U.S. government corporations and agencies	1,372,769		—		1,372,769		—
Obligations of states and political subdivisions	293,205		—		293,205		—
Corporate bonds	5,751		—		5,751		—
Asset backed securities	439,767		—		439,767		—
Non-agency mortgage backed securities	340,946				340,946
Loans held for sale	1,846		—		1,846		—
Mortgage servicing rights	6,712		—		—		6,712
Total assets measured at fair value	$	2,463,594	$	2,598	$	2,454,284	$	6,712

Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally corresponds with the Company’s quarterly valuation process. There were no transfers between any levels during the three months ended March 31, 2023 or the year ended December 31, 2022.

The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the time periods indicated. Had there been any transfer into or out of Level 3 during the time periods indicated, the amount included in the “Transfers into (out of) Level 3” column would represent the beginning balance of an item in the period (interim quarter) during which it was transferred (in thousands):

Three months ended March 31,	Beginning Balance		Transfers into (out of) Level 3	Change Included in Earnings		Issuances		Ending Balance
2023: Mortgage servicing rights	$	6,712		$	(209)	$	50	$	6,553
2022: Mortgage servicing rights	$	5,874	—	$	274	$	257	$	6,405

Three months ended March 31,

The key unobservable inputs used in determining the fair value of mortgage servicing rights are mortgage prepayment speeds and the discount rate used to discount cash projected cash flows. Generally, any significant increases in the mortgage prepayment speed and discount rate utilized in the fair value measurement of the mortgage servicing rights will result in a negative fair value adjustments (and decrease in the fair value measurement). Conversely, a decrease in the mortgage prepayment speed and discount rate will result in a positive fair value adjustment (and increase in the fair value measurement).

The following table presents quantitative information about recurring Level 3 fair value measurements at March 31, 2023 and December 31, 2022:

As of March 31, 2023:	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Mortgage Servicing Rights	$	6,553	Discounted cash flow	Constant prepayment rate	121% - 216%; 130.0%
				Discount rate	10% - 14%; 12%
As of December 31, 2022:
Mortgage Servicing Rights	$	6,712	Discounted cash flow	Constant prepayment rate	116% - 226.0%; 127.0%
				Discount rate	10% - 14%; 12%

The tables below present the recorded investment in assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated, that had a write-down or an additional allowance provided during the periods indicated (in thousands):

March 31, 2023	Total		Level 1	Level 2	Level 3
Fair value:
Individually evaluated loans	$	1,223	—	—	$	1,223

December 31, 2022	Total		Level 1	Level 2	Level 3
Fair value:
Individually evaluated loans	$	5,719	—	—	$	5,719
Foreclosed assets	311		—	—	311
Total assets measured at fair value	$	6,030	—	—	$	6,030

The tables below present the losses resulting from non-recurring fair value adjustments of assets and liabilities for the periods indicated (in thousands):

	Three months ended March 31,
	2023		2022
Individually evaluated loans	$	(277)	$	(615)
Foreclosed assets	—		(294)
Total losses from non-recurring measurements	$	(277)	$	(909)

The individually evaluated loan amounts above represent collateral dependent loans that have been adjusted to fair value. When the Company identifies a collateral dependent loan with unique risk characteristics, the Company evaluates the need for an allowance using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals. If the Company determines that the value of the loan is less than the recorded investment in the loan, the Company recognizes this impairment and adjust the carrying value of the loan to fair value through the allowance for credit losses. The loss represents charge-offs or impairments on collateral dependent loans for fair value adjustments based on the fair value of collateral. The carrying value of loans fully charged-off is zero.

The foreclosed assets amount above represents impaired real estate that has been adjusted to fair value. Foreclosed assets represent real estate which the Company has taken control of in partial or full satisfaction of loans. At the time of foreclosure, other real estate owned is recorded at fair value less costs to sell, which becomes the property’s new basis. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for credit losses. After foreclosure, management periodically performs valuations such that the real estate is carried at the lower of its new cost basis or fair value, net of estimated costs to sell. Fair value adjustments on other real estate owned are recognized within net loss on real estate owned. The loss represents impairments on real estate owned for fair value adjustments based on the fair value of the real estate.

The Company’s property appraisals are primarily based on the sales comparison approach and income approach methodologies, which consider recent sales of comparable properties, including their income generating characteristics, and then make adjustments to reflect the general assumptions that a market participant would make when analyzing the property for purchase. These adjustments may increase or decrease an appraised value and can vary significantly depending on the location, physical characteristics and income producing potential of each property. Additionally, the quality and volume of market information available at the time of the appraisal can vary from period to period and cause significant changes to the nature and magnitude of comparable sale adjustments. Given these variations, comparable sale adjustments are generally not a reliable indicator for how fair value will increase or decrease from period to period. Under certain circumstances, management discounts are applied based on specific characteristics of an individual property.

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at March 31, 2023:

March 31, 2023	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Individually evaluated loans	$	1,223	Sales comparison approach Income approach	Adjustment for differences between comparable sales; Capitalization rate	Not meaningful N/A

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2022:

December 31, 2022	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Individually evaluated loans	$	5,719	Sales comparison approach Income approach	Adjustment for differences between comparable sales; Capitalization rate	Not meaningful N/A
Foreclosed assets (Residential real estate)	$	311	Sales comparison approach	Adjustment for differences between comparable sales	Not meaningful N/A

Fair values for financial instruments are management’s estimates of the values at which the instruments could be exchanged in a transaction between willing parties. The Company uses the exit price notion when measuring the fair value of financial instruments. These estimates are subjective and may vary significantly from amounts that would be realized in actual transactions. In addition, other significant assets are not considered financial assets including, any mortgage banking operations, deferred tax assets, and premises and equipment. Further, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on the fair value estimates and have not been considered in any of these estimates.

	March 31, 2023				December 31, 2022
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Level 1 inputs:
Cash and due from banks	$	77,933	$	77,933	$	96,323	$	96,323
Cash at Federal Reserve and other banks	32,402		32,402		10,907		10,907
Level 2 inputs:
Securities held to maturity	152,067		142,135		160,983		149,938
Restricted equity securities	17,250		N/A		17,250		N/A
Level 3 inputs:
Loans, net	6,314,014		6,073,450		6,344,767		6,153,155
Financial liabilities:
Level 2 inputs:
Deposits	8,025,865		8,018,642		8,329,013		8,321,517
Other borrowings	434,140		434,140		264,605		264,605
Level 3 inputs:
Junior subordinated debt	101,051		94,442		101,040		92,613

(in thousands)	Contract Amount		Fair Value		Contract Amount		Fair Value
Off-balance sheet:
Level 3 inputs:
Commitments	$	2,258,744	$	22,587	$	2,188,560	$	21,886
Standby letters of credit	24,070		241		26,599		266
Overdraft privilege commitments	129,147		1,291		126,634		1,266

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Regulatory Matters

3 Months Ended

Mar. 31, 2023

Banking Regulation, Global Systemically Important Bank (GSIB) Surcharge [Abstract]

Regulatory Matters

Regulatory Matters

The Company is subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios (set forth in the table below) of total, Tier 1, and common equity Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. The following tables present actual and required capital ratios as of March 31, 2023 and December 31, 2022 for the Company and the Bank under applicable Basel III Capital Rules. The minimum capital amounts presented include the minimum required capital levels as of March 31, 2023 and December 31, 2022 based on the then phased-in provisions of the Basel III Capital Rules. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules.

	Actual				Required for Capital Adequacy Purposes				Required to be Considered Well Capitalized
As of March 31, 2023:	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
Total Capital (to Risk Weighted Assets):
Consolidated	$	1,134,613	14.50	%	$	821,668	10.50	%	N/A		N/A
Tri Counties Bank	$	1,127,852	14.42	%	$	821,470	10.50	%	$	782,352	10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	994,155	12.70	%	$	665,160	8.50	%	N/A		N/A
Tri Counties Bank	$	1,029,875	13.16	%	$	665,000	8.50	%	$	625,882	8.00	%
Common equity Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	937,300	11.98	%	$	547,779	7.00	%	N/A		N/A
Tri Counties Bank	$	1,029,875	13.16	%	$	547,647	7.00	%	$	508,529	6.50	%
Tier 1 Capital (to Average Assets):
Consolidated	$	994,155	10.20	%	$	393,017	4.00	%	N/A		N/A
Tri Counties Bank	$	1,029,875	10.57	%	$	392,873	4.00	%	$	491,091	5.00	%

	Actual				Required for Capital Adequacy Purposes				Required to be Considered Well Capitalized
As of December 31, 2022:	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
Total Capital (to Risk Weighted Assets):
Consolidated	$	1,115,257	14.19	%	$	825,234	10.50	%	N/A		N/A
Tri Counties Bank	$	1,107,941	14.10	%	$	825,039	10.50	%	$	785,751	10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	974,325	12.40	%	$	668,047	8.50	%	N/A		N/A
Tri Counties Bank	$	1,009,577	12.85	%	$	667,888	8.50	%	$	628,601	8.00	%
Common equity Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	917,565	11.67	%	$	550,156	7.00	%	N/A		N/A
Tri Counties Bank	$	1,009,577	12.85	%	$	550,026	7.00	%	$	510,738	6.50	%
Tier 1 Capital (to Average Assets):
Consolidated	$	974,325	10.14	%	$	384,337	4.00	%	N/A		N/A
Tri Counties Bank	$	1,009,577	10.51	%	$	384,146	4.00	%	$	480,183	5.00	%

As of March 31, 2023 and December 31, 2022, capital levels at the Company and the Bank exceed all capital adequacy requirements under the Basel III Capital Rules. Also, at March 31, 2023 and December 31, 2022, the Bank’s capital levels exceeded the minimum amounts necessary to be considered well capitalized under the current regulatory framework for prompt corrective action.

The Basel III Capital Rules require for all banking organizations to maintain a capital conservation buffer above the minimum risk-based capital requirements in order to avoid certain limitations on capital distributions, stock repurchases and discretionary bonus payments to executive officers. The capital conservation buffer is exclusively composed of common equity tier 1 capital, and it applies to each of the risk-based capital ratios but not the leverage ratio. At March 31, 2023, the Company and the Bank are in compliance with the capital conservation buffer requirement.

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Description of Business and Basis of Presentation

Description of Business and Basis of Presentation

TriCo Bancshares (the “Company” or “we”) is a California corporation organized to act as a bank holding company for Tri Counties Bank (the “Bank”). The Company and the Bank are headquartered in Chico, California. The Bank is a California-chartered bank that is engaged in the general commercial banking business in 33 California counties. The consolidated financial statements are prepared in accordance with accounting policies generally accepted in the United States of America and general practices in the banking industry. All adjustments necessary for a fair presentation of these consolidated financial statements have been included and are of a normal and recurring nature. The financial statements include the accounts of the Company. All inter-company accounts and transactions have been eliminated in consolidation.

The Company has five capital subsidiary business trusts (collectively, the “Capital Trusts”) that issued trust preferred securities, including two organized by the Company and three acquired with the acquisition of North Valley Bancorp. For financial reporting purposes, the Company’s investments in the Capital Trusts of $1.76 million are accounted for under the equity method and, accordingly, are not consolidated and are included in other assets on the consolidated balance sheet. See the footnote 'Junior Subordinated Debt' for additional information on borrowings outstanding.

Use of Estimates in the Preparation of Financial Statements

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”). The Company believes that the disclosures made are adequate to make the information not misleading.

Segment and Significant Group Concentration of Credit Risk

Segment and Significant Group Concentration of Credit Risk

The Company grants agribusiness, commercial, consumer, and residential loans to customers located throughout California. The Company has a diversified loan portfolio within the business segments located in this geographical area. The Company currently classifies all its operation into one business segment that it denotes as community banking.

Geographical Descriptions

Geographical Descriptions

For the purpose of describing the geographical location of the Company’s operations, the Company has defined northern California as that area of California north of, and including, Stockton to the east and San Jose to the west; central California as that area of the state south of Stockton and San Jose, to and including, Bakersfield to the east and San Luis Obispo to the west; and southern California as that area of the state south of Bakersfield and San Luis Obispo.

Reclassification

Reclassification

Some items in the prior year consolidated financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’ equity.

Cash and Cash Equivalents

Cash and Cash Equivalents

Net cash flows are reported for loan and deposit transactions and other borrowings. For purposes of the consolidated statement of cash flows, cash, due from banks with original maturities less than 90 days, interest-earning deposits in other banks, and Federal funds sold are considered to be cash equivalents.

Allowance for Credit Losses - Securities

Allowance for Credit Losses - Securities

The Company measures expected credit losses on HTM debt securities on a collective basis by major security type, then further disaggregated by sector and bond rating. Accrued interest receivable on HTM debt securities was considered insignificant at March 31, 2023 and is therefore excluded from the estimate of credit losses. The estimate of expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts based on current and expected changes in credit ratings and default rates. Based on the implied guarantees of the U. S. Government or its agencies related to certain of these investment securities, and the absence of any historical or expected losses, substantially all qualify for a zero loss assumption.

Management has separately evaluated its HTM investment securities from obligations of state and political subdivisions utilizing the historical loss data represented by similar securities over a period of time spanning nearly 50 years. As a result of this evaluation, management determined that the expected credit losses associated with these securities is not significant for financial reporting purposes and therefore, no allowance for credit losses has been recognized.The Company evaluates AFS debt securities in an unrealized loss position to determine whether the decline in the fair value below the amortized cost basis (impairment) is due to credit-related factors or noncredit-related factors. Any impairment that is not credit related is recognized in other comprehensive income, net of applicable taxes. Credit-related impairment is recognized as an allowance for credit losses on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings. Both the allowance for credit losses and the adjustment to net income may be reversed if conditions change. However, if the Company intends to sell an impaired available for sale debt security or more likely than not will be required to sell such a security before recovering its amortized cost basis, the entire impairment amount is recognized in earnings with a corresponding adjustment to the security's amortized cost basis. In evaluating available for sale debt securities in unrealized loss positions for impairment and the criteria regarding its intent or requirement to sell such securities, the Company considers the extent to which fair value is less than amortized cost, whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuers' financial condition, among other factors. Changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the ACL when management believes the uncollectability of an available for sale debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met.

Loans

Loans

Loans that management has the intent and ability to hold until maturity or payoff are reported at principle amount outstanding, net of deferred loan fees and costs. Loans are placed in nonaccrual status when reasonable doubt exists as to the full, timely collection of interest or principal, or a loan becomes contractually past due by 90 days or more with respect to interest or principal and is not well secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of principal is considered probable. Interest accruals are resumed on such loans only when they are brought fully current with respect to interest and principal and when, in the judgment of Management, the loan is estimated to be fully collectible as to both principal and interest. Accrued interest receivable is not included in the calculation of the allowance for credit losses.

Allowance for Credit Losses - Loans

Allowance for Credit Losses - Loans

The ACL is a valuation account that is deducted from the loan's amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged-off against the allowance when management believes the recorded loan balance is confirmed as uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Regardless of the determination that a charge-off is appropriate for financial accounting purposes, the Company manages its loan portfolio by continually monitoring, where possible, a borrower's ability to pay through the collection of financial information, delinquency status, borrower discussion and the encouragement to repay in accordance with the original contract or modified terms, if appropriate.

Management estimates the allowance balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. Historical credit loss experience provides the basis for the estimation of expected credit losses, which captures loan balances as of a point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over the remaining life. The Company identified and accumulated loan cohort historical loss data beginning with the fourth quarter of 2008 and through the current period. In situations where the Company's actual loss history was not statistically relevant, the loss history of peers, defined as financial institutions with assets greater than three billion and less than ten billion, were utilized to create a minimum loss rate. Adjustments to historical loss information are made for differences in relevant current loan-specific risk characteristics, such as historical timing of losses relative to the loan origination. In its loss forecasting framework, the Company incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios incorporate variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to changes in environmental conditions, such as California unemployment rates, household debt levels, changes in corporate debt yields, and U.S. gross domestic product.

PCD assets are assets acquired at a discount that is due, in part, to credit quality deterioration since origination. PCD assets are accounted for in accordance with ASC 326-20 and are initially recorded at fair value, by taking the sum of the present value of expected future cash flows and an allowance for credit losses, at acquisition. The allowance for credit losses for PCD assets is recorded through a gross-up of reserves on the balance sheet, while the allowance for acquired non-PCD assets, such as loans, is recorded through the provision for credit losses on the income statement, consistent with originated loans. Subsequent to acquisition, the allowance for credit losses for PCD loans will generally follow the same forward-looking estimation, provision, and charge-off process as non-PCD acquired and originated loans.

The Company has identified the following portfolio segments to evaluate and measure the allowance for credit loss:

Commercial real estate:

Commercial real estate - Non-owner occupied: These commercial properties typically consist of buildings which are leased to others for their use and rely on rents as the primary source of repayment. Property types are predominantly office, retail, or light industrial but the portfolio also has some special use properties. As such, the risk of loss associated with these properties is primarily driven by general

economic changes or changes in regional economies and the impact of such on a tenant’s ability to pay. Ultimately this can affect occupancy, rental rates, or both. Additional risk of loss can come from new construction resulting in oversupply, the costs to hold or operate the property, or changes in interest rates. The terms on these loans at origination typically have maturities from five to ten years with amortization periods from fifteen to thirty years.

Commercial real estate - Owner occupied: These credits are primarily susceptible to changes in the financial condition of the business operated by the property owner. This may be driven by changes in, among other things, industry challenges, factors unique to the operating geography of the borrower, change in the individual fortunes of the business owner, general economic conditions and changes in business cycles. When default is driven by issues related specifically to the business owner, collateral values tend to provide better repayment support and may result in little or no loss. Alternatively, when default is driven more by general economic conditions, the underlying collateral may have devalued more and thus result in larger losses in the event of default. The terms on these loans at origination typically have maturities from five to ten years with amortization periods from fifteen to thirty years.

Multifamily: These commercial properties are generally comprised of more than four rentable units, such as apartment buildings, with each unit intended to be occupied as the primary residence for one or more persons. Multifamily properties are also subject to changes in general or regional economic conditions, such as unemployment, ultimately resulting in increased vacancy rates or reduced rents or both. In addition, new construction can create an oversupply condition and market competition resulting in increased vacancy, reduced market rents, or both. Due to the nature of their use and the greater likelihood of tenant turnover, the management of these properties is more intensive and therefore is more critical to the preclusion of loss.

Farmland: While the Company has few loans that were originated for the purpose of the acquisition of these commercial properties, loans secured by farmland represent unique risks that are associated with the operation of an agricultural businesses. The valuation of farmland can vary greatly over time based on the property's access to resources including but not limited to water, crop prices, foreign exchange rates, government regulation or restrictions, and the nature of ongoing capital investment needed to maintain the quality of the property. Loans secured by farmland typically represent less risk to the Company than other agriculture loans as the real estate typically provides greater support in the event of default or need for longer term repayment.

Consumer loans:

SFR 1-4 1st DT Liens: The most significant drivers of potential loss within the Company's residential real estate portfolio relate general, regional, or individual changes in economic conditions and their effect on employment and borrowers cash flow. Risk in this portfolio is best measured by changes in borrower credit score and loan-to-value. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the value of homes and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate.

SFR HELOCs and Junior Liens: Similar to residential real estate term loans, HELOCs and junior liens performance is also primarily driven by borrower cash flows based on employment status. However, HELOCs carry additional risks associated with the fact that most of these loans are secured by a deed of trust in a position that is junior to the primary lien holder. Furthermore, the risk that as the borrower's financial strength deteriorates, the outstanding balance on these credit lines may increase as they may only be canceled by the Company if certain limited criteria are met. In addition to the allowance for credit losses maintained as a percent of the outstanding loan balance, the Company maintains additional reserves for the unfunded portion of the HELOC.

Other: The majority of consumer loans are secured by automobiles, with the remainder primarily unsecured revolving debt (credit cards). These loans are susceptible to three primary risks; non-payment due to income loss, over-extension of credit and, when the borrower is unable to pay, shortfall in collateral value, if any. Typically non-payment is due to loss of job and will follow general economic trends in the marketplace driven primarily by rises in the unemployment rate. Loss of collateral value can be due to market demand shifts, damage to collateral itself or a combination of those factors. Credit card loans are unsecured and while collection efforts are pursued in the event of default, there is typically limited opportunity for recovery. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate.

Commercial and Industrial:

Repayment of these loans is primarily based on the cash flow of the borrower, and secondarily on the underlying collateral provided by the borrower. A borrower's cash flow may be unpredictable, and collateral securing these loans may fluctuate in value. Most often, collateral includes accounts receivable, inventory, or equipment. Collateral securing these loans may depreciate over time, may be difficult to appraise, may be illiquid and may fluctuate in value based on the success of the business. Actual and forecast changes in gross domestic product are believed to be corollary to losses associated with these credits.

Construction:

While secured by real estate, construction loans represent a greater level of risk than term real estate loans due to the nature of the additional risks associated with the not only the completion of construction within an estimated time period and budget, but also the need to either sell the building or reach a level of stabilized occupancy sufficient to generate the cash flows necessary to support debt service and operating costs. The Company seeks to mitigate the additional risks associated with construction lending by requiring borrowers to comply with lower loan to value ratios and additional covenants as well as strong tertiary support of guarantors. The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset as adjusted for macroeconomic factors.

Agriculture Production:

Repayment of agricultural loans is dependent upon successful operation of the agricultural business, which is greatly impacted by factors outside the control of the borrower. These factors include adverse weather conditions, including access to water, that may impact crop yields, loss of livestock due to disease or other factors, declines in market prices for agriculture products, changes in foreign exchange, and the impact of government regulations. In addition, many farms are dependent on a limited number of key individuals whose injury or death may significantly affect the successful operation of the business. Consequently, agricultural production loans may involve a greater degree of risk than other types of loans.

Leases:

The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset. Leases typically represent an elevated level of credit risk as compared to loans secured by real estate as the collateral for leases is often subject to a more rapid rate of depreciation or depletion. The ultimate severity of loss is impacted by the type of collateral securing the exposure, the size of the exposure, the borrower’s industry sector, any guarantors and the geographic market. Assumptions of expected loss are conditioned to the economic outlook and the other variables discussed above.

Unfunded commitments:

The estimated credit losses associated with these unfunded lending commitments is calculated using the same models and methodologies noted above and incorporate utilization assumptions at time of default. The reserve for unfunded commitments is maintained on the consolidated balance sheet in other liabilities.

Accounting Standards Recently Issued or Adopted

Accounting Standards Recently Issued or Adopted

FASB issued ASU 2023-02, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. This ASU permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. The adoption of this accounting guidance is not expected to have a material impact on the Company’s consolidated financial statements.

FASB issued ASU 2022-02, Financial Instruments — Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. This ASU addresses feedback received from adopters of CECL, specifically regarding accounting guidance for TDRs and disclosures of gross write-offs by year of loan origination. Accounting guidance for TDRs by creditors will be eliminated under this amendment, while also enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Amendments in this ASU were effective for the Company beginning January 1, 2023 and applied on a prospective basis. The adoption of this accounting guidance did not have a material impact on the Company's consolidated financial statements.

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Business Combinations (Tables)

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Fair Value of Consideration Transferred, Assets Acquired and Liabilities Assumed

The following table summarizes the consideration paid for VRB and the amounts of assets acquired and liabilities assumed that were recorded at the acquisition date (in thousands):

	Fair Value as of March 25, 2022
Fair value of consideration transferred:
Fair value of shares issued	$	173,585
Cash consideration	431
Total fair value of consideration transferred	174,016
Assets acquired:
Cash and cash equivalents	427,314
Securities available for sale	109,716
Loans and leases	771,353
Premises and equipment	4,658
Cash value of life insurance	13,609
Core deposit intangible	10,635
Other assets	29,744
Total assets acquired	1,367,029
Liabilities assumed:
Deposits	(1,215,479)
Subordinated debt	(47,236)
SERP liability	(3,352)
Other liabilities	(10,516)
Total liabilities assumed	(1,276,583)
Total net assets acquired	90,446
Goodwill recognized	$	83,570

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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Estimated Fair Values of Investments Securities

The amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables:

	March 31, 2023
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	1,531,759	$	5	$	(174,329)	$	—	$	1,357,435
Obligations of states and political subdivisions	308,129		698		(28,927)		—		279,900
Corporate bonds	6,165		—		(427)		—		5,738
Asset backed securities	440,259		18		(12,913)		—		427,364
Non-agency collateralized mortgage obligations	375,345		—		(39,970)		—		335,375
Total debt securities available for sale	$	2,661,657	$	721	$	(256,566)	$	—	$	2,405,812
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	148,700	$	1	$	(9,942)	—		138,759
Obligations of states and political subdivisions	3,367		14		(5)		—		3,376
Total debt securities held to maturity	$	152,067	$	15	$	(9,947)	$	—	$	142,135

	December 31, 2022
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	1,568,408	$	3	$	(195,642)	$	—	$	1,372,769
Obligations of states and political subdivisions	332,625		401		(39,821)		—		293,205
Corporate bonds	6,164		—		(413)		—		5,751
Asset backed securities	454,943		17		(15,193)		—		439,767
Non-agency collateralized mortgage obligations	380,847		—		(39,901)		—		340,946
Total debt securities available for sale	$	2,742,987	$	421	$	(290,970)	$	—	$	2,452,438
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	154,830	$	2	$	(11,013)	$	—	$	143,819
Obligations of states and political subdivisions	6,153		13		(47)		—		6,119
Total debt securities held to maturity	$	160,983	$	15	$	(11,060)	$	—	$	149,938

Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity

As of March 31, 2023, the contractual final maturity for available for sale and held to maturity investment securities is as follows:

Debt Securities	Available for Sale				Held to Maturity
(in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year	$	57,662	$	56,205	$	—	$	—
Due after one year through five years	114,294		109,745		5,316		5,157
Due after five years through ten years	407,960		389,802		9,592		9,081
Due after ten years	2,081,741		1,850,060		137,159		127,897
Totals	$	2,661,657	$	2,405,812	$	152,067	$	142,135

Gross Unrealized Losses on Investment Securities

Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:

March 31, 2023:	Less than 12 months				12 months or more				Total
(in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	298,264	$	(18,024)	$	1,058,654	$	(156,305)	$	1,356,918	$	(174,329)
Obligations of states and political subdivisions	126,230		(7,797)		105,039		(21,130)		231,269		(28,927)
Corporate bonds	1,846		(135)		3,892		(292)		5,738		(427)
Asset backed securities	112,239		(1,994)		309,739		(10,919)		421,978		(12,913)
Non-agency collateralized mortgage obligations	73,343		(2,639)		248,617		(37,331)		321,960		(39,970)
Total debt securities available for sale	$	611,922	$	(30,589)	$	1,725,941	$	(225,977)	$	2,337,863	$	(256,566)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	41,389	$	(2,252)	$	97,370	$	(7,690)	$	138,759	$	(9,942)
Obligations of states and political subdivisions	1,050		(5)		—		—		1,050		(5)
Total debt securities held to maturity	$	42,439	$	(2,257)	$	97,370	$	(7,690)	$	139,809	$	(9,947)

December 31, 2022:	Less than 12 months				12 months or more				Total
(in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	605,615	$	(61,408)	$	766,612	$	(134,234)	$	1,372,227	$	(195,642)
Obligations of states and political subdivisions	219,532		(26,904)		43,282		(12,917)		262,814		(39,821)
Corporate bonds	5,751		(413)		—		—		5,751		(413)
Asset backed securities	231,703		(4,955)		205,329		(10,238)		437,032		(15,193)
Non-agency collateralized mortgage obligations	123,075		(3,421)		203,620		(36,480)		326,695		(39,901)
Total debt securities available for sale	$	1,185,676	(97,101)		$	1,218,843	$	(193,869)	$	2,404,519	$	(290,970)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	143,577	$	(11,013)	$	—	$	—	$	143,577	$	(11,013)
Obligations of states and political subdivisions	4,530		(47)		—		—		4,530		(47)
Total debt securities held to maturity	$	148,107	$	(11,060)	$	—	$	—	$	148,107	$	(11,060)

Amortized Cost of Debt Securities Held-to-Maturity

The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator:

	March 31, 2023				December 31, 2022
(in thousands)	AAA/AA/A		BBB/BB/B		AAA/AA/A		BBB/BB/B
Obligations of U.S. government agencies	$	148,700	$	—	$	154,830	$	—
Obligations of states and political subdivisions	3,367		—		6,153		—
Total debt securities held to maturity	$	152,067	$	—	$	160,983	$	—

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Loans (Tables)

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Summary of Loan Balances

A summary of loan balances at amortized cost are as follows:

(in thousands)	March 31, 2023		December 31, 2022
Commercial real estate:
CRE non-owner occupied	$	2,161,059	$	2,149,725
CRE owner occupied	971,210		984,807
Multifamily	946,693		944,537
Farmland	274,997		280,014
Total commercial real estate loans	4,353,959		4,359,083
Consumer:
SFR 1-4 1st DT liens	803,407		790,349
SFR HELOCs and junior liens	375,591		393,666
Other	54,799		56,728
Total consumer loans	1,233,797		1,240,743
Commercial and industrial	553,098		569,921
Construction	225,996		211,560
Agriculture production	47,062		61,414
Leases	8,509		7,726
Total loans, net of deferred loan fees and discounts	$	6,422,421	$	6,450,447
Total principal balance of loans owed, net of charge-offs	$	6,467,936	$	6,496,210
Unamortized net deferred loan fees	(16,423)		(15,275)
Discounts to principal balance of loans owed, net of charge-offs	(29,092)		(30,488)
Total loans, net of unamortized deferred loan fees and discounts	$	6,422,421	$	6,450,447
Allowance for credit losses on loans	$	(108,407)	$	(105,680)

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Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2023

Allowance For Loan And Lease Losses [Abstract]

Summary of Activity in Allowance for Loan Losses, and Ending Balance of Loans, Net of Unearned Fees for Periods Indicated

For the periods indicated, the following tables summarize the activity in the allowance for credit losses on loans which is recorded as a contra asset, and the reserve for unfunded commitments which is recorded on the balance sheet within other liabilities:

	Allowance for credit losses – Three months ended March 31, 2023
(in thousands)	Beginning Balance		Charge-offs		Recoveries		Provision (benefit)		Ending  Balance
Commercial real estate:
CRE non-owner occupied	$	30,962	$	—	$	—	$	2,001	$	32,963
CRE owner occupied	14,014		—		—		545		14,559
Multifamily	13,132		—		—		741		13,873
Farmland	3,273		—		—		269		3,542
Total commercial real estate loans	61,381		—		—		3,556		64,937
Consumer:
SFR 1-4 1st DT liens	11,268		—		—		652		11,920
SFR HELOCs and junior liens	11,413		(42)		65		(522)		10,914
Other	1,958		(142)		51		195		2,062
Total consumer loans	24,639		(184)		116		325		24,896
Commercial and industrial	13,597		(1,574)		53		(7)		12,069
Construction	5,142		—		—		513		5,655
Agriculture production	906		—		1		(74)		833
Leases	15		—		—		2		17
Allowance for credit losses on loans	105,680		(1,758)		170		4,315		108,407
Reserve for unfunded commitments	4,315		—		—		(120)		4,195
Total	$	109,995	$	(1,758)	$	170	$	4,195	$	112,602

For the periods indicated, the following tables summarize the activity in the allowance for credit losses on loans which is recorded as a contra asset, and the reserve for unfunded commitments which is recorded on the balance sheet within other liabilities:

	Allowance for credit losses – Year ended December 31, 2022
(in thousands)	Beginning Balance		ACL of PCD Loans		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Commercial real estate:
CRE non-owner occupied	$	25,739	$	746	$	—	$	1	$	4,476	$	30,962
CRE owner occupied	10,691		63		—		2		3,258		14,014
Multifamily	12,395		—		—		—		737		13,132
Farmland	2,315		764		(294)		—		488		3,273
Total commercial real estate loans	51,140		1,573		(294)		3		8,959		61,381
Consumer:
SFR 1-4 1st DT liens	10,723		144		—		79		322		11,268
SFR HELOCs and junior liens	10,510		—		(22)		429		496		11,413
Other	2,241		—		(572)		235		54		1,958
Total consumer loans	23,474		144		(594)		743		872		24,639
Commercial and industrial	3,862		81		(697)		1,157		9,194		13,597
Construction	5,667		201		—		—		(726)		5,142
Agriculture production	1,215		38		—		4		(351)		906
Leases	18		—		—		—		(3)		15
Allowance for credit losses on loans	85,376		2,037		(1,585)		1,907		17,945		105,680
Reserve for unfunded commitments	3,790		—		—		—		525		4,315
Total	$	89,166	$	2,037	$	(1,585)	$	1,907	$	18,470	$	109,995

	Allowance for credit losses – Three months ended March 31, 2022
(in thousands)	Beginning Balance		ACL of PCD Loans		Charge-offs		Recoveries		Provision		Ending Balance
Commercial real estate:
CRE non-owner occupied	$	25,739	$	746	$	—	$	—	$	1,570	$	28,055
CRE owner occupied	10,691		63		—		—		1,317		12,071
Multifamily	12,395		—		—		—		(408)		11,987
Farmland	2,315		764		(294)		—		94		2,879
Total commercial real estate loans	51,140		1,573		(294)		—		2,573		54,992
Consumer:
SFR 1-4 1st DT liens	10,723		144		—		40		(238)		10,669
SFR HELOCs and junior liens	10,510		—		—		175		158		10,843
Other	2,241		—		(119)		71		(26)		2,167
Total consumer loans	23,474		144		(119)		286		(106)		23,679
Commercial and industrial	3,862		81		(330)		887		4,542		9,042
Construction	5,667		201		—		—		1,569		7,437
Agriculture production	1,215		38		—		1		(371)		883
Leases	18		—		—		—		(2)		16
Allowance for credit losses on loans	85,376		2,037		(743)		1,174		8,205		96,049
Reserve for unfunded commitments	3,790		—		—		—		125		3,915
Total	$	89,166	$	2,037	$	(743)	$	1,174	$	8,330	$	99,964

Summary of Loans and Leases Purchased and Acquired with Credit Deterioration

The following table provides a summary of loans and leases purchased as part of the VRB acquisition with credit deterioration at acquisition:

	As of March 25, 2022
(in thousands)	Commercial Real Estate		Consumer		Commercial and Industrial		Construction		Agriculture Production		Total
Par value	$	27,237	$	3,877	$	2,674	$	25,645	$	9,080	$	68,513
ACL at acquisition	(1,573)		(144)		(81)		(201)		(38)		(2,037)
Non-credit discount	(2,305)		(360)		(47)		(232)		(12)		(2,956)
Purchase price	$	23,359	$	3,373	$	2,546	$	25,212	$	9,030	$	63,520

Schedule Credit Quality Indicators

Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the period indicated:

	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2023
(in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate:
CRE non-owner occupied risk ratings
Pass	$	29,991	$	412,225	$	293,358	$	152,186	$	225,912	$	868,576	$	120,771	$	—	$	2,103,019
Special Mention	—		—		7,430		—		19,905		25,555		1,556		—		54,446
Substandard	—		—		827		743		218		1,806		—		—		3,594
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	29,991	$	412,225	$	301,615	$	152,929	$	246,035	$	895,937	$	122,327	$	—	$	2,161,059
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate:
CRE owner occupied risk ratings
Pass	$	17,630	$	201,342	$	194,894	$	121,856	$	63,323	$	291,219	$	33,526	$	—	$	923,790
Special Mention	—		131		16,818		232		724		7,794		838		—		26,537
Substandard	—		3,153		—		5,217		1,877		10,479		157		—		20,883
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	17,630	$	204,626	$	211,712	$	127,305	$	65,924	$	309,492	$	34,521	$	—	$	971,210
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2023
(in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate:
Multifamily risk ratings
Pass	$	2,849	$	178,177	$	289,301	$	95,352	$	108,051	$	239,322	$	33,524	$	—	$	946,576
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		117		—		—		117
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	2,849	$	178,177	$	289,301	$	95,352	$	108,051	$	239,439	$	33,524	$	—	$	946,693
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate:
Farmland risk ratings
Pass	$	14,429	$	46,353	$	53,146	$	16,430	$	18,037	$	46,924	$	52,382	$	—	$	247,701
Special Mention	—		3,140		—		304		5,000		3,386		—		—		11,830
Substandard	—		—		775		371		—		10,837		3,483		—		15,466
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	14,429	$	49,493	$	53,921	$	17,105	$	23,037	$	61,147	$	55,865	$	—	$	274,997
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer loans:
SFR 1-4 1st DT liens risk ratings
Pass	$	15,719	$	193,110	$	271,654	$	127,830	$	32,755	$	141,016	$	8	$	3,506	$	785,598
Special Mention	—		1,079		—		3,234		280		8,662		—		67		13,322
Substandard	—		—		1,189		—		—		2,667		—		631		4,487
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	15,719	$	194,189	$	272,843	$	131,064	$	33,035	$	152,345	$	8	$	4,204	$	803,407
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer loans:
SFR HELOCs and Junior Liens
Pass	$	360	$	—	$	—	$	—	$	—	$	119	$	362,806	$	7,858	$	371,143
Special Mention	—		—		—		—		—		—		646		23		669
Substandard	—		—		—		—		—		—		3,159		620		3,779
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	360	$	—	$	—	$	—	$	—	$	119	$	366,611	$	8,501	$	375,591
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	43	$	43

Consumer loans:
Other risk ratings
Pass	$	4,305	$	11,888	$	12,044	$	9,376	$	9,680	$	6,274	$	588	$	—	$	54,155
Special Mention	—		—		13		64		130		200		16		—		423
Substandard	—		—		—		42		70		87		22		—		221
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	4,305	$	11,888	$	12,057	$	9,482	$	9,880	$	6,561	$	626	$	—	$	54,799
Current period gross write-offs	$	96	$	6	$	—	$	—	$	29	$	7	$	3	$	—	$	141

	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2023
(in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial and industrial loans:
Commercial and industrial risk ratings
Pass	$	34,754	$	107,807	$	64,490	$	15,801	$	20,277	$	11,093	$	273,269	$	402	$	527,893
Special Mention	44		2,750		60		20		29		1,037		9,453		—		13,393
Substandard	—		1,223		1,869		3,235		11		298		5,076		100		11,812
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	34,798	$	111,780	$	66,419	$	19,056	$	20,317	$	12,428	$	287,798	$	502	$	553,098
Current period gross write-offs	$	6	$	—	$	—	$	1,550	$	—	$	—	$	—	$	18	$	1,574

Construction loans:
Construction risk ratings
Pass	$	10,823	$	93,294	$	67,911	$	41,776	$	4,904	$	6,736	$	—	$	—	$	225,444
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		458		94		—		—		552
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	10,823	$	93,294	$	67,911	$	41,776	$	5,362	$	6,830	$	—	$	—	$	225,996
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Agriculture production loans:
Agriculture production risk ratings
Pass	$	50	$	3,140	$	2,567	$	1,003	$	929	$	9,755	$	21,690	$	—	$	39,134
Special Mention	—		—		—		—		—		103		4,769		—		4,872
Substandard	—		—		—		—		—		—		3,056		—		3,056
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	50	$	3,140	$	2,567	$	1,003	$	929	$	9,858	$	29,515	$	—	$	47,062
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Leases:
Lease risk ratings
Pass	$	8,509	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$8,509
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	8,509	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	8,509
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total loans outstanding:
Risk ratings
Pass	$	139,419	$	1,247,336	$	1,249,365	$	581,610	$	483,868	$	1,621,034	$	898,564	$	11,766	$	6,232,962
Special Mention	44		7,100		24,321		3,854		26,068		46,737		17,278		90		125,492
Substandard	—		4,376		4,660		9,608		2,634		26,385		14,953		1,351		63,967
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	139,463	$	1,258,812	$	1,278,346	$	595,072	$	512,570	$	1,694,156	$	930,795	$	13,207	$	6,422,421
Current period gross write-offs	$	102	$	6	$	—	$	1,550	$	29	$	7	$	3	$	61	$	1,758

	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022
(in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate:
CRE non-owner occupied risk ratings
Pass	$	399,910	$	304,636	$	152,960	$	221,659	$	147,842	$	748,994	$	123,794	$	—	$	2,099,795
Special Mention	—		—		—		20,033		—		21,681		1,346		—		43,060
Substandard	—		864		768		—		1,059		4,179		—		—		6,870
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	399,910	$	305,500	$	153,728	$	241,692	$	148,901	$	774,854	$	125,140	$	—	$	2,149,725

Commercial real estate:
CRE owner occupied risk ratings
Pass	$	210,101	$	197,787	$	120,929	$	64,244	$	49,755	$	251,137	$	43,343	$	—	$	937,296
Special Mention	131		16,296		234		731		—		6,971		879		—		25,242
Substandard	3,213		—		5,249		1,893		1,103		10,654		157		—		22,269
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	213,445	$	214,083	$	126,412	$	66,868	$	50,858	$	268,762	$	44,379	$	—	$	984,807

Commercial real estate:
Multifamily risk ratings
Pass	$	159,318	$	290,170	$	96,937	$	108,586	$	106,287	$	154,125	$	28,989	$	—	$	944,412
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		125		—		—		125
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	159,318	$	290,170	$	96,937	$	108,586	$	106,287	$	154,250	$	28,989	$	—	$	944,537

Commercial real estate:
Farmland risk ratings
Pass	$	47,067	$	53,275	$	16,739	$	18,589	$	12,386	$	34,528	$	53,684	$	—	$	236,268
Special Mention	3,139		783		246		5,000		—		3,991		14,275		—		27,434
Substandard	—		—		1,772		765		3,158		7,094		3,523		—		16,312
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	50,206	$	54,058	$	18,757	$	24,354	$	15,544	$	45,613	$	71,482	$	—	$	280,014

Consumer loans:
SFR 1-4 1st DT liens risk ratings
Pass	$	194,933	$	265,370	$	131,922	$	33,395	$	28,545	$	115,469	$	8	$	2,924	$	772,566
Special Mention	—		—		1,531		282		3,277		5,854		—		465		11,409
Substandard	—		1,204		—		—		1,004		3,521		—		645		6,374
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	194,933	$	266,574	$	133,453	$	33,677	$	32,826	$	124,844	$	8	$	4,034	$	790,349

	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022
(in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Consumer loans:
SFR HELOCs and Junior Liens
Pass	$	505	$	—	$	—	$	—	$	—	$	127	$	378,939	$	8,462	$	388,033
Special Mention	—		—		—		—		—		—		1,842		81		1,923
Substandard	—		—		—		—		—		—		3,072		638		3,710
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	505	$	—	$	—	$	—	$	—	$	127	$	383,853	$	9,181	$	393,666

Consumer loans:
Other risk ratings
Pass	$	14,070	$	12,990	$	10,211	$	10,650	$	5,225	$	1,945	$	899	$	—	$	55,990
Special Mention	—		18		77		135		176		32		47		—		485
Substandard	—		—		42		92		—		96		23		—		253
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	14,070	$	13,008	$	10,330	$	10,877	$	5,401	$	2,073	$	969	$	—	$	56,728

Commercial and industrial loans:
Commercial and industrial risk ratings
Pass	$	125,710	$	64,966	$	17,746	$	23,131	$	7,628	$	5,051	$	297,341	$	483	$	542,056
Special Mention	3,032		139		21		49		138		768		11,547		—		15,694
Substandard	1,293		1,142		5,179		14		33		611		3,798		101		12,171
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	130,035	$	66,247	$	22,946	$	23,194	$	7,799	$	6,430	$	312,686	$	584	$	569,921

Construction loans:
Construction risk ratings
Pass	$	72,840	$	72,308	$	43,409	$	15,358	$	2,159	$	4,900	$	—	$	—	$	210,974
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		457		—		129		—		—		586
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	72,840	$	72,308	$	43,409	$	15,815	$	2,159	$	5,029	$	—	$	—	$	211,560

Agriculture production loans:
Agriculture production risk ratings
Pass	$	3,414	$	2,777	$	1,149	$	1,104	$	8,902	$	1,058	$	38,425	$	—	$	56,829
Special Mention	—		—		—		—		90		31		1,632		—		1,753
Substandard	—		—		—		—		—		—		2,832		—		2,832
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	3,414	$	2,777	$	1,149	$	1,104	$	8,992	$	1,089	$	42,889	$	—	$	61,414

	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022
(in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Leases:
Lease risk ratings
Pass	$	7,726	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	7,726
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	7,726	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	7,726

Total loans outstanding:
Risk ratings
Pass	$	1,235,594	$	1,264,279	$	592,002	$	496,716	$	368,729	$	1,317,334	$	965,422	$	11,869	$	6,251,945
Special Mention	6,302		17,236		2,109		26,230		3,681		39,328		31,568		546		127,000
Substandard	4,506		3,210		13,010		3,221		6,357		26,409		13,405		1,384		71,502
Doubtful/Loss	—		—		—		—		—		—		—		—		—
Total	$	1,246,402	$	1,284,725	$	607,121	$	526,167	$	378,767	$	1,383,071	$	1,010,395	$	13,799	$	6,450,447

Analysis of Past Due Loans

The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:

	Analysis of Past Due Loans - As of March 31, 2023
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Commercial real estate:
CRE non-owner occupied	$	623	$	—	$	—	$	623	$	2,160,436	$	2,161,059
CRE owner occupied	156		82		172		410		970,800		971,210
Multifamily	—		—		—		—		946,693		946,693
Farmland	150		—		—		150		274,847		274,997
Total commercial real estate loans	929		82		172		1,183		4,352,776		4,353,959
Consumer:
SFR 1-4 1st DT liens	442		557		356		1,355		802,052		803,407
SFR HELOCs and junior liens	—		1,342		793		2,135		373,456		375,591
Other	49		136		121		306		54,493		54,799
Total consumer loans	491		2,035		1,270		3,796		1,230,001		1,233,797
Commercial and industrial	471		1,620		364		2,455		550,643		553,098
Construction	—		78		379		457		225,539		225,996
Agriculture production	—		—		—		—		47,062		47,062
Leases	—		—		—		—		8,509		8,509
Total	$	1,891	$	3,815	$	2,185	$	7,891	$	6,414,530	$	6,422,421

	Analysis of Past Due Loans - As of December 31, 2022
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Commercial real estate:
CRE non-owner occupied	$	—	$	—	$	—	$	—	$	2,149,725	$	2,149,725
CRE owner occupied	—		98		75		173		984,634		984,807
Multifamily	159		—		—		159		944,378		944,537
Farmland	—		—		—		—		280,014		280,014
Total commercial real estate loans	159		98		75		332		4,358,751		4,359,083
Consumer:
SFR 1-4 1st DT liens	24		—		279		303		790,046		790,349
SFR HELOCs and junior liens	172		166		707		1,045		392,621		393,666
Other	26		34		55		115		56,613		56,728
Total consumer loans	222		200		1,041		1,463		1,239,280		1,240,743
Commercial and industrial	2,300		190		283		2,773		567,148		569,921
Construction	—		—		379		379		211,181		211,560
Agriculture production	—		—		—		—		61,414		61,414
Leases	—		—		—		—		7,726		7,726
Total	$	2,681	$	488	$	1,778	$	4,947	$	6,445,500	$	6,450,447

Schedule of Non Accrual Loans

The following table shows the ending balance of non accrual loans by loan category as of the date indicated:

	Non Accrual Loans
	As of March 31, 2023						As of December 31, 2022
(in thousands)	Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing		Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing
Commercial real estate:
CRE non-owner occupied	$	1,671	$	1,671	$	—	$	1,739	$	1,739	$	—
CRE owner occupied	3,848		3,848		—		4,938		4,938		—
Multifamily	117		117		—		125		125		—
Farmland	371		371		—		1,772		1,772		—
Total commercial real estate loans	6,007		6,007		—		8,574		8,574		—
Consumer:
SFR 1-4 1st DT liens	3,532		3,532		—		4,117		4,220		—
SFR HELOCs and junior liens	2,790		3,373		—		2,498		3,155		—
Other	78		139		—		47		84		—
Total consumer loans	6,400		7,044		—		6,662		7,459		—
Commercial and industrial	95		1,372		189		1,224		3,518		—
Construction	457		457		—		491		491		—
Agriculture production	957		957		—		1,279		1,279		—
Leases	—		—		—		—		—		—
Sub-total	13,916		15,837		189		18,230		21,321		—
Less: Guaranteed loans	(75)		(230)		—		(105)		(225)
Total, net	$	13,841	$	15,607	$	189	$	18,125	$	21,096	$	—

Amortized Cost Basis of Collateral Dependent Loans, By Class of Loan

The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods:

	As of March 31, 2023
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR-1st Deed		SFR-2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Total
Commercial real estate:
CRE non-owner occupied	$	749	$	95	$	—	$	827	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1,671
CRE owner occupied	523		75		—		3,250		—		—		—		—		—		—		—		3,848
Multifamily	—		—		—		—		117		—		—		—		—		—		—		117
Farmland	—		—		—		—		—		371		—		—		—		—		—		371
Total commercial real estate loans	1,272		170		—		4,077		117		371		—		—		—		—		—		6,007
Consumer:
SFR 1-4 1st DT liens	—		—		—		—		—		—		3,532		—		—		—		—		3,532
SFR HELOCs and junior liens	—		—		—		—		—		—		1,705		1,308		—		—		—		3,013
Other	—		—		—		4		—		—		—		—		124		—		2		130
Total consumer loans	—		—		—		4		—		—		5,237		1,308		124		—		2		6,675
Commercial and industrial	—		—		—		—		—		—		—		—		—		1,298		74		1,372
Construction	—		—		—		379		—		—		78		—		—		—		—		457
Agriculture production	—		—		—		—		—		—		—		—		—		—		957		957
Leases	—		—		—		—		—		—		—		—		—		—		—		—
Total	$	1,272	$	170	$	—	$	4,460	$	117	$	371	$	5,315	$	1,308	$	124	$	1,298	$	1,033	$	15,468

	As of December 31, 2022
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR -1st Deed		SFR -2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Total
Commercial real estate:
CRE non-owner occupied	$	777	$	98	$	—	$	864	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1,739
CRE owner occupied	548		75		1,103		3,212		—		—		—		—		—		—		—		4,938
Multifamily	—		—		—		—		125		—		—		—		—		—		—		125
Farmland	—		—		—		—		—		1,772		—		—		—		—		—		1,772
Total commercial real estate loans	1,325		173		1,103		4,076		125		1,772		—		—		—		—		—		8,574
Consumer:
SFR 1-4 1st DT liens	—		—		—		—		—		—		4,220		—		—		—		—		4,220
SFR HELOCs and junior liens	—		—		—		—		—		—		1,664		1,121		—		—		—		2,785
Other	—		—		—		5		—		—		—		—		61		—		2		68
Total consumer loans	—		—		—		5		—		—		5,884		1,121		61		—		2		7,073
Commercial and industrial	—		—		—		1,874		—		—		—		—		—		1,596		48		3,518
Construction	—		—		—		379		—		—		112		—		—		—		—		491
Agriculture production	—		—		—		—		—		—		—		—		—		—		1,279		1,279
Leases	—		—		—		—		—		—		—		—		—		—		—		—
Total	$	1,325	$	173	$	1,103	$	6,334	$	125	$	1,772	$	5,996	$	1,121	$	61	$	1,596	$	1,329	$	20,935

The following tables show the amortized cost basis of loans that were both experiencing financial difficulty and modified during the periods presented. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivables is also presented below.

	For the three months ended March 31, 2023
(in thousands)	Payment Delay/Term Extension		Total % of Loans Outstanding
Commercial real estate:
CRE non-owner occupied	$	—	—	%
CRE owner occupied	—		—
Multifamily	—		—
Farmland	—		—
Total commercial real estate loans	—		—
Consumer:
SFR 1-4 1st DT liens	—		—
SFR HELOCs and junior liens	—		—
Other	—		—
Total consumer loans	—		—
Commercial and industrial	177		0.03
Construction	—		—
Agriculture production	—		—
Leases	—		—
Total	$	177	0.03	%

The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the quarter ended March 31, 2023.

	Weighted Average Months Term Extension
Commercial and industrial	12

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Leases (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Components of Lease Expense

The following table presents the components of lease expense for the periods ended:

	Three months ended March 31,
(in thousands)	2023		2022
Operating lease cost	$	1,609	$	1,319
Short-term lease cost	118		53
Variable lease cost	12		2
Sublease income	—		—
Total lease cost	$	1,739	$	1,374

Supplemental Cash Flow Information Related to Leases

The following table presents supplemental cash flow information related to leases for the periods ended:

	Three months ended March 31,
(in thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,653	$	1,292
ROUA obtained in exchange for operating lease liabilities	$	4,484	$	3,867

Weighted Average Operating Lease Term And Discount Rate

The following table presents the weighted average operating lease term and discount rate as of the period ended:

	March 31,
	2023		2022
Weighted-average remaining lease term (years)	8.3		8.8
Weighted-average discount rate	3.27	%	2.90	%

Future Expected Operating Lease Payments

At March 31, 2023, future expected operating lease payments are as follows:

(in thousands)
Periods ending December 31,
2023	$	4,505
2024	5,798
2025	5,229
2026	4,688
2027	4,001
Thereafter	13,071
	37,292
Discount for present value of expected cash flows	(5,064)
Lease liability at March 31, 2023	$	32,228

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Deposits (Tables)

3 Months Ended

Mar. 31, 2023

Deposits [Abstract]

Summary of Balances of Deposits

A summary of the balances of deposits follows:

(in thousands)	March 31, 2023		December 31, 2022
Noninterest-bearing demand	$	3,236,696	$	3,502,095
Interest-bearing demand	1,635,706		1,718,541
Savings	2,807,796		2,884,378
Time certificates, $250,000 or more	94,917		46,350
Other time certificates	250,750		177,649
Total deposits	$	8,025,865	$	8,329,013

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Subordinated Debentures (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Summary of Terms and Recorded Balance of Subordinated Debenture

The following table summarizes the terms and recorded balances of each debenture as of the date indicated (dollars in thousands):

				Coupon Rate (Variable) 3 mo. LIBOR +		As of March 31, 2023				As of December 31, 2022
Subordinated Debt Series	Maturity Date	Face Value				Current Coupon Rate		Recorded Book Value		Recorded Book Value
TriCo Cap Trust I	10/7/2033	$	20,619	3.05	%	7.88	%	$	20,619	$	20,619
TriCo Cap Trust II	7/23/2034	20,619		2.55	%	7.36	%	20,619		20,619
North Valley Trust II	4/24/2033	6,186		3.25	%	8.06	%	5,527		5,503
North Valley Trust III	7/23/2034	5,155		2.80	%	7.61	%	4,404		4,383
North Valley Trust IV	3/15/2036	10,310		1.33	%	6.19	%	7,446		7,393
VRB Subordinated - 6%	3/29/2029	16,000		Fixed		6.00	%	17,140		17,187
VRB Subordinated - 5%	8/27/2035	20,000		Fixed		5.00	%	25,296		25,336
		$	98,889					$	101,051	$	101,040

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Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Summary of Bank's Commitments and Contingent Liabilities

The following table presents a summary of the Bank’s commitments and contingent liabilities:

(in thousands)	March 31, 2023		December 31, 2022
Financial instruments whose amounts represent risk:
Commitments to extend credit:
Commercial loans	$	726,505	$	656,705
Consumer loans	751,193		760,588
Real estate mortgage loans	473,894		458,896
Real estate construction loans	307,152		312,371
Standby letters of credit	24,070		26,599
Deposit account overdraft privilege	129,147		126,634

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Stock Options and Other Equity-Based Incentive Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock Option Activity

Stock option activity during the three months ended March 31, 2023 is summarized in the following table:

	Number of Shares	Weighted Average Exercise Price
Outstanding at December 31, 2022	15,500	$	21.27
Options granted	—	—
Options exercised	(4,000)	19.46
Options forfeited	—	—
Outstanding at March 31, 2023	11,500	$	21.90

Summary of Options Outstanding

The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of March 31, 2023:

	Currently Exercisable		Currently Not Exercisable		Total Outstanding
Number of options	11,500		—		11,500
Weighted average exercise price	$	21.90	$	—	$	21.90
Intrinsic value (in thousands)	$	226	$	—	$	226
Weighted average remaining contractual term (yrs.)	1.0		0 years		1.0

Restricted Stock Unit (RSU) Activity

Activity related to restricted stock unit awards during the three months ended March 31, 2023 is summarized in the following table:

	Service Condition Vesting RSUs	Market Plus Service Condition Vesting RSUs
Outstanding at December 31, 2022	139,194	114,481
RSUs granted	—	—
RSUs added through dividend and performance credits	817	—
RSUs released	(22,118)	—
RSUs forfeited/expired	—	—
Outstanding at March 31, 2023	117,893	114,481

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Non-interest Income and Expense (Tables)

3 Months Ended

Mar. 31, 2023

Other Income and Expenses [Abstract]

Components of Non-Interest Income

The following table summarizes the Company’s non-interest income for the periods indicated:

	Three months ended March 31,
(in thousands)	2023		2022
ATM and interchange fees	$	6,344	$	6,243
Service charges on deposit accounts	3,431		3,834
Other service fees	1,166		882
Mortgage banking service fees	465		463
Change in value of mortgage servicing rights	(209)		274
Total service charges and fees	11,197		11,696
Increase in cash value of life insurance	802		638
Asset management and commission income	934		887
Gain on sale of loans	206		1,246
Lease brokerage income	98		158
Sale of customer checks	288		104
Loss on sale of investment securities	(164)		—
Gain (loss) on marketable equity securities	42		(137)
Other	232		504
Total other non-interest income	2,438		3,400
Total non-interest income	$	13,635	$	15,096

Components of Non Interest Expense

The components of non-interest expense were as follows:

	Three months ended March 31,
(in thousands)	2023		2022
Base salaries, net of deferred loan origination costs	$	23,000	$	18,216
Incentive compensation	2,895		2,583
Benefits and other compensation costs	6,668		5,972
Total salaries and benefits expense	32,563		26,771
Occupancy	4,160		3,575
Data processing and software	4,032		3,513
Equipment	1,383		1,333
Intangible amortization	1,656		1,228
Advertising	759		637
ATM and POS network charges	1,709		1,375
Professional fees	1,589		876
Telecommunications	595		521
Regulatory assessments and insurance	792		720
Merger and acquisition expense	—		4,032
Postage	299		228
Operational (gain) losses	435		(183)
Courier service	339		414
Gain on disposal of fixed assets	—		(1,078)
Other miscellaneous expense	3,483		2,485
Total other non-interest expense	21,231		19,676
Total non-interest expense	$	53,794	$	46,447

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Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Computation of Earnings Per Share

Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock units (RSUs), and are determined using the treasury stock method. Earnings per share have been computed based on the following:

	Three months ended March 31,
(in thousands)	2023		2022
Net income	$	35,833	$	20,374
Average number of common shares outstanding	33,296		30,050
Effect of dilutive stock options and restricted stock	142		152
Average number of common shares outstanding used to calculate diluted earnings per share	33,438		30,202
Options excluded from diluted earnings per share because of their antidilutive effect	—		—

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Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Components of Other Comprehensive Income (Loss) and Related Tax Effects

The components of other comprehensive income (loss) and related tax effects are as follows:

	Three months ended March 31,
(in thousands)	2023		2022
Unrealized holding gains (losses) on available for sale securities before reclassifications	$	34,540	$	(111,302)
Amounts reclassified out of AOCI:
Realized loss on debt securities	164		—
Unrealized holding gains (losses) on available for sale securities after reclassifications	34,704		(111,302)
Tax effect	(10,260)		32,905
Unrealized holding gains (losses) on available for sale securities, net of tax	24,444		(78,397)
Change in unfunded status of the supplemental retirement plans before reclassifications	114		63
Amounts reclassified out of AOCI:
Amortization of prior service cost	—		(7)
Amortization of actuarial losses	(114)		2
Total amounts reclassified out of accumulated other comprehensive (loss) income	(114)		(5)
Change in unfunded status of the supplemental retirement plans after reclassifications	—		58
Tax effect	—		—
Change in unfunded status of the supplemental retirement plans, net of tax	—		58
Change in joint beneficiary agreement liability before reclassifications	—		—
Tax effect	—		—
Change in joint beneficiary agreement liability before reclassifications, net of tax	—		—
Total other comprehensive income (loss)	$	24,444	$	(78,339)

Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, included in shareholders’ equity, are as follows:

(in thousands)	March 31, 2023		December 31, 2022
Net unrealized gain on available for sale securities	$	(255,845)	$	(290,549)
Tax effect	75,637		85,897
Unrealized holding gain on available for sale securities, net of tax	(180,208)		(204,652)
Unfunded status of the supplemental retirement plans	13,901		13,901
Tax effect	(4,110)		(4,110)
Unfunded status of the supplemental retirement plans, net of tax	9,791		9,791
Joint beneficiary agreement liability	956		956
Tax effect	—		—
Joint beneficiary agreement liability, net of tax	956		956
Accumulated other comprehensive loss	$	(169,461)	$	(193,905)

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Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis

The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands):

Fair value at March 31, 2023	Total		Level 1		Level 2		Level 3
Marketable equity securities	$	2,640	$	2,640
Debt securities available for sale:
Obligations of U.S. government corporations and agencies	1,357,435				1,357,435
Obligations of states and political subdivisions	279,900				279,900
Corporate bonds	5,738				5,738
Asset backed securities	427,364				427,364
Non-agency mortgage backed securities	335,375				335,375
Loans held for sale	226				226
Mortgage servicing rights	6,553						6,553
Total assets measured at fair value	$	2,415,231	$	2,640	$	2,406,038	$	6,553

Fair value at December 31, 2022	Total		Level 1		Level 2		Level 3
Marketable equity securities	$	2,598	$	2,598	$	—	$	—
Debt securities available for sale:
Obligations of U.S. government corporations and agencies	1,372,769		—		1,372,769		—
Obligations of states and political subdivisions	293,205		—		293,205		—
Corporate bonds	5,751		—		5,751		—
Asset backed securities	439,767		—		439,767		—
Non-agency mortgage backed securities	340,946				340,946
Loans held for sale	1,846		—		1,846		—
Mortgage servicing rights	6,712		—		—		6,712
Total assets measured at fair value	$	2,463,594	$	2,598	$	2,454,284	$	6,712

Reconciliation of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) on Recurring Basis

The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the time periods indicated. Had there been any transfer into or out of Level 3 during the time periods indicated, the amount included in the “Transfers into (out of) Level 3” column would represent the beginning balance of an item in the period (interim quarter) during which it was transferred (in thousands):

Three months ended March 31,	Beginning Balance		Transfers into (out of) Level 3	Change Included in Earnings		Issuances		Ending Balance
2023: Mortgage servicing rights	$	6,712		$	(209)	$	50	$	6,553
2022: Mortgage servicing rights	$	5,874	—	$	274	$	257	$	6,405

Quantitative Information about Recurring Level 3 Fair Value Measurements

The following table presents quantitative information about recurring Level 3 fair value measurements at March 31, 2023 and December 31, 2022:

As of March 31, 2023:	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Mortgage Servicing Rights	$	6,553	Discounted cash flow	Constant prepayment rate	121% - 216%; 130.0%
				Discount rate	10% - 14%; 12%
As of December 31, 2022:
Mortgage Servicing Rights	$	6,712	Discounted cash flow	Constant prepayment rate	116% - 226.0%; 127.0%
				Discount rate	10% - 14%; 12%

Assets and Liabilities Measured at Fair Value on Nonrecurring Basis

The tables below present the recorded investment in assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated, that had a write-down or an additional allowance provided during the periods indicated (in thousands):

March 31, 2023	Total		Level 1	Level 2	Level 3
Fair value:
Individually evaluated loans	$	1,223	—	—	$	1,223

December 31, 2022	Total		Level 1	Level 2	Level 3
Fair value:
Individually evaluated loans	$	5,719	—	—	$	5,719
Foreclosed assets	311		—	—	311
Total assets measured at fair value	$	6,030	—	—	$	6,030

The tables below present the losses resulting from non-recurring fair value adjustments of assets and liabilities for the periods indicated (in thousands):

	Three months ended March 31,
	2023		2022
Individually evaluated loans	$	(277)	$	(615)
Foreclosed assets	—		(294)
Total losses from non-recurring measurements	$	(277)	$	(909)

Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at March 31, 2023:

March 31, 2023	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Individually evaluated loans	$	1,223	Sales comparison approach Income approach	Adjustment for differences between comparable sales; Capitalization rate	Not meaningful N/A

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2022:

December 31, 2022	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Individually evaluated loans	$	5,719	Sales comparison approach Income approach	Adjustment for differences between comparable sales; Capitalization rate	Not meaningful N/A
Foreclosed assets (Residential real estate)	$	311	Sales comparison approach	Adjustment for differences between comparable sales	Not meaningful N/A

Estimated Fair Values of Financial Instruments that are Reported at Amortized Cost in Consolidated Balance Sheets

	March 31, 2023				December 31, 2022
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Level 1 inputs:
Cash and due from banks	$	77,933	$	77,933	$	96,323	$	96,323
Cash at Federal Reserve and other banks	32,402		32,402		10,907		10,907
Level 2 inputs:
Securities held to maturity	152,067		142,135		160,983		149,938
Restricted equity securities	17,250		N/A		17,250		N/A
Level 3 inputs:
Loans, net	6,314,014		6,073,450		6,344,767		6,153,155
Financial liabilities:
Level 2 inputs:
Deposits	8,025,865		8,018,642		8,329,013		8,321,517
Other borrowings	434,140		434,140		264,605		264,605
Level 3 inputs:
Junior subordinated debt	101,051		94,442		101,040		92,613

(in thousands)	Contract Amount		Fair Value		Contract Amount		Fair Value
Off-balance sheet:
Level 3 inputs:
Commitments	$	2,258,744	$	22,587	$	2,188,560	$	21,886
Standby letters of credit	24,070		241		26,599		266
Overdraft privilege commitments	129,147		1,291		126,634		1,266

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Regulatory Matters (Tables)

3 Months Ended

Mar. 31, 2023

Banking Regulation, Global Systemically Important Bank (GSIB) Surcharge [Abstract]

Actual and Required Capital Ratios of Bank

	Actual				Required for Capital Adequacy Purposes				Required to be Considered Well Capitalized
As of March 31, 2023:	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
Total Capital (to Risk Weighted Assets):
Consolidated	$	1,134,613	14.50	%	$	821,668	10.50	%	N/A		N/A
Tri Counties Bank	$	1,127,852	14.42	%	$	821,470	10.50	%	$	782,352	10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	994,155	12.70	%	$	665,160	8.50	%	N/A		N/A
Tri Counties Bank	$	1,029,875	13.16	%	$	665,000	8.50	%	$	625,882	8.00	%
Common equity Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	937,300	11.98	%	$	547,779	7.00	%	N/A		N/A
Tri Counties Bank	$	1,029,875	13.16	%	$	547,647	7.00	%	$	508,529	6.50	%
Tier 1 Capital (to Average Assets):
Consolidated	$	994,155	10.20	%	$	393,017	4.00	%	N/A		N/A
Tri Counties Bank	$	1,029,875	10.57	%	$	392,873	4.00	%	$	491,091	5.00	%

	Actual				Required for Capital Adequacy Purposes				Required to be Considered Well Capitalized
As of December 31, 2022:	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
Total Capital (to Risk Weighted Assets):
Consolidated	$	1,115,257	14.19	%	$	825,234	10.50	%	N/A		N/A
Tri Counties Bank	$	1,107,941	14.10	%	$	825,039	10.50	%	$	785,751	10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	974,325	12.40	%	$	668,047	8.50	%	N/A		N/A
Tri Counties Bank	$	1,009,577	12.85	%	$	667,888	8.50	%	$	628,601	8.00	%
Common equity Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	917,565	11.67	%	$	550,156	7.00	%	N/A		N/A
Tri Counties Bank	$	1,009,577	12.85	%	$	550,026	7.00	%	$	510,738	6.50	%
Tier 1 Capital (to Average Assets):
Consolidated	$	974,325	10.14	%	$	384,337	4.00	%	N/A		N/A
Tri Counties Bank	$	1,009,577	10.51	%	$	384,146	4.00	%	$	480,183	5.00	%

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Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) segment office trust county
Significant Accounting Policies [Line Items]
Number of subsidiary business trusts (in trusts)	5
Number of subsidiary business trusts organized by the company (in trusts)	2
Company's investments in the trusts | $	$ 1,760
Number of business segment (in segments) | segment	1
Loans contractual past due	90 days
North Valley Bancorp
Significant Accounting Policies [Line Items]
Number of loan production offices (in offices) | office	3
Minimum
Significant Accounting Policies [Line Items]
Loan term	5 years
Amortization period	15 years
Maximum
Significant Accounting Policies [Line Items]
Loan term	10 years
Amortization period	30 years
California
Significant Accounting Policies [Line Items]
Number of counties (in counties) | county	33

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Business Combinations - Narrative (Details) - Valley Republic Bancorp $ / shares in Units, $ in Thousands, shares in Millions	Mar. 25, 2022 USD ($) $ / shares shares
Business Acquisition [Line Items]
Total consideration value	$ 174,016
Share price (in dollars per share) | $ / shares	$ 42.48
Issue of common stock (in shares) | shares	4.1
Settlement of stock option awards	$ 431

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Business Combinations - Schedule of Fair Value of Consideration Transferred, Identifiable Net Assets Acquired and Resulting Goodwill (Detail) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 31, 2023	Dec. 31, 2022
Liabilities assumed:
Goodwill recognized		$ 304,442	$ 304,442
Valley Republic Bancorp
Fair value of consideration transferred:
Fair value of shares issued	$ 173,585
Cash consideration	431
Total fair value of consideration transferred	174,016
Assets acquired:
Cash and cash equivalents	427,314
Securities available for sale	109,716
Loans and leases	771,353
Premises and equipment	4,658
Cash value of life insurance	13,609
Core deposit intangible	10,635
Other assets	29,744
Total assets acquired	1,367,029
Liabilities assumed:
Deposits	(1,215,479)
Subordinated debt	(47,236)
SERP liability	(3,352)
Other liabilities	(10,516)
Total liabilities assumed	(1,276,583)
Total net assets acquired	90,446
Goodwill recognized	$ 83,570

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Investment Securities - Amortized Cost and Estimated Fair Values of Investments Securities (Detail) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Debt Securities Available for Sale
Amortized Cost	$ 2,661,657,000	$ 2,742,987,000
Gross Unrealized Gains	721,000	421,000
Gross Unrealized Losses	(256,566,000)	(290,970,000)
Allowance for Credit Losses	0	0
Estimated Fair Value	2,405,812,000	2,452,438,000
Debt Securities Held to Maturity
Amortized Cost	152,067,000	160,983,000
Gross Unrealized Gains	15,000	15,000
Gross Unrealized Losses	(9,947,000)	(11,060,000)
Allowance for Credit Losses	0	0
Estimated Fair Value	142,135,000	149,938,000
Obligations of U.S. government agencies
Debt Securities Available for Sale
Amortized Cost	1,531,759,000	1,568,408,000
Gross Unrealized Gains	5,000	3,000
Gross Unrealized Losses	(174,329,000)	(195,642,000)
Allowance for Credit Losses	0	0
Estimated Fair Value	1,357,435,000	1,372,769,000
Debt Securities Held to Maturity
Amortized Cost	148,700,000	154,830,000
Gross Unrealized Gains	1,000	2,000
Gross Unrealized Losses	(9,942,000)	(11,013,000)
Allowance for Credit Losses	0	0
Estimated Fair Value	138,759,000	143,819,000
Obligations of states and political subdivisions
Debt Securities Available for Sale
Amortized Cost	308,129,000	332,625,000
Gross Unrealized Gains	698,000	401,000
Gross Unrealized Losses	(28,927,000)	(39,821,000)
Allowance for Credit Losses	0	0
Estimated Fair Value	279,900,000	293,205,000
Debt Securities Held to Maturity
Amortized Cost	3,367,000	6,153,000
Gross Unrealized Gains	14,000	13,000
Gross Unrealized Losses	(5,000)	(47,000)
Allowance for Credit Losses	0	0
Estimated Fair Value	3,376,000	6,119,000
Corporate bonds
Debt Securities Available for Sale
Amortized Cost	6,165,000	6,164,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(427,000)	(413,000)
Allowance for Credit Losses	0	0
Estimated Fair Value	5,738,000	5,751,000
Asset backed securities
Debt Securities Available for Sale
Amortized Cost	440,259,000	454,943,000
Gross Unrealized Gains	18,000	17,000
Gross Unrealized Losses	(12,913,000)	(15,193,000)
Allowance for Credit Losses	0	0
Estimated Fair Value	427,364,000	439,767,000
Non-agency collateralized mortgage obligations
Debt Securities Available for Sale
Amortized Cost	375,345,000	380,847,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(39,970,000)	(39,901,000)
Allowance for Credit Losses	0	0
Estimated Fair Value	$ 335,375,000	$ 340,946,000

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Investment Securities - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023 USD ($) investmentSecurity securityLoan	Dec. 31, 2022 USD ($)	Mar. 31, 2022
Investment Securities [Line Items]
Proceeds from the sale of investment securities	$ 24,200,000
Gross realized losses from the sale of investment securities	200,000
Securities pledged as collateral	648,400,000	$ 595,800,000
Residential real estate mortgage-backed securities	$ 1,502,500,000,000
Life of mortgage-backed securities	6 years 6 months 10 days
Allowance for credit losses	$ 0	0
Obligations of U.S. government agencies
Investment Securities [Line Items]
Impairment losses recognized	0
Allowance for credit losses	$ 0	0
Number of available for sale securities in unrealized loss position (in investment securities) | investmentSecurity	261
Percentage of aggregate depreciation in unrealized losses	10.97%
Obligations of states and political subdivisions
Investment Securities [Line Items]
Impairment losses recognized	$ 0
Allowance for credit losses	$ 0	0
Number of available for sale securities in unrealized loss position (in investment securities) | investmentSecurity	159
Percentage of aggregate depreciation in unrealized losses	11.07%
Corporate bonds
Investment Securities [Line Items]
Impairment losses recognized	$ 0
Allowance for credit losses	$ 0	0
Number of available for sale securities in unrealized loss position (in investment securities) | investmentSecurity	6
Percentage of aggregate depreciation in unrealized losses	6.93%
Asset backed securities
Investment Securities [Line Items]
Impairment losses recognized	$ 0
Allowance for credit losses	$ 0	0
Number of available for sale securities in unrealized loss position (in investment securities) | investmentSecurity	47
Percentage of aggregate depreciation in unrealized losses	2.97%
Non-agency collateralized mortgage obligations
Investment Securities [Line Items]
Impairment losses recognized	$ 0
Allowance for credit losses	$ 0	$ 0
Number of available for sale securities in unrealized loss position (in investment securities) | securityLoan	22
Allowance for credit loss	$ 0
Percentage of aggregate depreciation in unrealized losses	11.04%		11.04%

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Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Amortized Cost
Due in one year	$ 57,662
Due after one year through five years	114,294
Due after five years through ten years	407,960
Due after ten years	2,081,741
Amortized Cost	2,661,657	$ 2,742,987
Estimated Fair Value
Due in one year	56,205
Due after one year through five years	109,745
Due after five years through ten years	389,802
Due after ten years	1,850,060
Totals	2,405,812	2,452,438
Amortized Cost
Due in one year	0
Due after one year through five years	5,316
Due after five years through ten years	9,592
Due after ten years	137,159
Totals	152,067	160,983
Estimated Fair Value
Due in one year	0
Due after one year through five years	5,157
Due after five years through ten years	9,081
Due after ten years	127,897
Totals	$ 142,135	$ 149,938

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Investment Securities - Gross Unrealized Losses on Debt Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Securities Available for Sale
Less than 12 months, Fair Value	$ 611,922	$ 1,185,676
Less than 12 months, Unrealized Loss	(30,589)	(97,101)
12 months or more, Fair Value	1,725,941	1,218,843
12 months or more, Unrealized Loss	(225,977)	(193,869)
Total, Fair Value	2,337,863	2,404,519
Total, Unrealized Loss	(256,566)	(290,970)
Debt Securities Held to Maturity
Less than 12 months, Fair Value	42,439	148,107
Less than 12 Months, Unrealized Loss	(2,257)	(11,060)
12 months or more, Fair Value	97,370	0
12 months or more, Unrealized Loss	(7,690)	0
Total, Fair Value	139,809	148,107
Total, Unrealized Loss	(9,947)	(11,060)
Obligations of U.S. government agencies
Debt Securities Available for Sale
Less than 12 months, Fair Value	298,264	605,615
Less than 12 months, Unrealized Loss	(18,024)	(61,408)
12 months or more, Fair Value	1,058,654	766,612
12 months or more, Unrealized Loss	(156,305)	(134,234)
Total, Fair Value	1,356,918	1,372,227
Total, Unrealized Loss	(174,329)	(195,642)
Debt Securities Held to Maturity
Less than 12 months, Fair Value	41,389	143,577
Less than 12 Months, Unrealized Loss	(2,252)	(11,013)
12 months or more, Fair Value	97,370	0
12 months or more, Unrealized Loss	(7,690)	0
Total, Fair Value	138,759	143,577
Total, Unrealized Loss	(9,942)	(11,013)
Obligations of states and political subdivisions
Debt Securities Available for Sale
Less than 12 months, Fair Value	126,230	219,532
Less than 12 months, Unrealized Loss	(7,797)	(26,904)
12 months or more, Fair Value	105,039	43,282
12 months or more, Unrealized Loss	(21,130)	(12,917)
Total, Fair Value	231,269	262,814
Total, Unrealized Loss	(28,927)	(39,821)
Debt Securities Held to Maturity
Less than 12 months, Fair Value	1,050	4,530
Less than 12 Months, Unrealized Loss	(5)	(47)
12 months or more, Fair Value	0	0
12 months or more, Unrealized Loss	0	0
Total, Fair Value	1,050	4,530
Total, Unrealized Loss	(5)	(47)
Corporate bonds
Debt Securities Available for Sale
Less than 12 months, Fair Value	1,846	5,751
Less than 12 months, Unrealized Loss	(135)	(413)
12 months or more, Fair Value	3,892	0
12 months or more, Unrealized Loss	(292)	0
Total, Fair Value	5,738	5,751
Total, Unrealized Loss	(427)	(413)
Asset backed securities
Debt Securities Available for Sale
Less than 12 months, Fair Value	112,239	231,703
Less than 12 months, Unrealized Loss	(1,994)	(4,955)
12 months or more, Fair Value	309,739	205,329
12 months or more, Unrealized Loss	(10,919)	(10,238)
Total, Fair Value	421,978	437,032
Total, Unrealized Loss	(12,913)	(15,193)
Non-agency collateralized mortgage obligations
Debt Securities Available for Sale
Less than 12 months, Fair Value	73,343	123,075
Less than 12 months, Unrealized Loss	(2,639)	(3,421)
12 months or more, Fair Value	248,617	203,620
12 months or more, Unrealized Loss	(37,331)	(36,480)
Total, Fair Value	321,960	326,695
Total, Unrealized Loss	$ (39,970)	$ (39,901)

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Investment Securities - Amortized Cost of Debt Securities Held-to-Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Securities held to maturity	$ 152,067	$ 160,983
AAA/AA/A
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Securities held to maturity	152,067	160,983
BBB/BB/B
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Securities held to maturity	0	0
Obligations of U.S. government agencies | AAA/AA/A
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Securities held to maturity	148,700	154,830
Obligations of U.S. government agencies | BBB/BB/B
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Securities held to maturity	0	0
Obligations of states and political subdivisions | AAA/AA/A
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Securities held to maturity	3,367	6,153
Obligations of states and political subdivisions | BBB/BB/B
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Securities held to maturity	$ 0	$ 0

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Loans - Summary of Loan Balances (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Loans and Leases Receivable Disclosure [Line Items]
Total	$ 6,422,421	$ 6,450,447
Total principal balance of loans owed, net of charge-offs	6,467,936	6,496,210
Unamortized net deferred loan fees	(16,423)	(15,275)
Discounts to principal balance of loans owed, net of charge-offs	(29,092)	(30,488)
Allowance for credit losses	(108,407)	(105,680)	$ (96,049)	$ (85,376)
Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Total	4,353,959	4,359,083
Allowance for credit losses	(64,937)	(61,381)	(54,992)	(51,140)
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total	1,233,797	1,240,743
Allowance for credit losses	(24,896)	(24,639)	(23,679)	(23,474)
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Total	553,098	569,921
Allowance for credit losses	(12,069)	(13,597)	(9,042)	(3,862)
Construction
Loans and Leases Receivable Disclosure [Line Items]
Total	225,996	211,560
Allowance for credit losses	(5,655)	(5,142)	(7,437)	(5,667)
Agriculture production
Loans and Leases Receivable Disclosure [Line Items]
Total	47,062	61,414
Allowance for credit losses	(833)	(906)	(883)	(1,215)
Leases
Loans and Leases Receivable Disclosure [Line Items]
Total	8,509	7,726
Allowance for credit losses	(17)	(15)	(16)	(18)
CRE non-owner occupied | Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Total	2,161,059	2,149,725
Allowance for credit losses	(32,963)	(30,962)	(28,055)	(25,739)
CRE owner occupied | Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Total	971,210	984,807
Allowance for credit losses	(14,559)	(14,014)	(12,071)	(10,691)
Multifamily | Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Total	946,693	944,537
Allowance for credit losses	(13,873)	(13,132)	(11,987)	(12,395)
Farmland | Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Total	274,997	280,014
Allowance for credit losses	(3,542)	(3,273)	(2,879)	(2,315)
SFR 1-4 1st DT liens | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total	803,407	790,349
SFR HELOCs and junior liens | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total	375,591	393,666
Allowance for credit losses	(10,914)	(11,413)	(10,843)	(10,510)
Other | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total	54,799	56,728
Allowance for credit losses	$ (2,062)	$ (1,958)	$ (2,167)	$ (2,241)

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Allowance for Credit Losses - Summary of Activity in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	$ 105,680	$ 85,376	$ 85,376
ACL on PCD Loans		2,037
Charge-offs	(1,758)	(743)	(1,585)
Recoveries	170	1,174	1,907
Provision for (Benefit from) Credit Losses	4,315	8,205	17,945
Ending  Balance	108,407	96,049	105,680
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning Balance	4,315	3,790	3,790
ACL on PCD Loans		0
Charge-offs	0	0	0
Recoveries	0	0	0
Provision for (Benefit from) Credit Losses	(120)	125	525
Ending  Balance	4,195	3,915	4,315
Credit Loss [Roll Forward]
Beginning Balance	109,995	89,166	89,166
ACL on PCD Loans		2,037
Charge-offs	(1,758)	(743)	(1,585)
Recoveries	170	1,174	1,907
Provision for (Benefit from) Credit Losses	4,195	8,330	18,470
Ending  Balance	112,602	99,964	109,995
ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		2,037	2,037
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning Balance		0	0
Credit Loss [Roll Forward]
Beginning Balance		2,037	2,037
Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	61,381	51,140	51,140
ACL on PCD Loans		1,573
Charge-offs	0	(294)	(294)
Recoveries	0	0	3
Provision for (Benefit from) Credit Losses	3,556	2,573	8,959
Ending  Balance	64,937	54,992	61,381
Commercial real estate | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		1,573	1,573
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	24,639	23,474	23,474
ACL on PCD Loans		144
Charge-offs	(184)	(119)	(594)
Recoveries	116	286	743
Provision for (Benefit from) Credit Losses	325	(106)	872
Ending  Balance	24,896	23,679	24,639
Consumer | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		144	144
Commercial and industrial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	13,597	3,862	3,862
ACL on PCD Loans		81
Charge-offs	(1,574)	(330)	(697)
Recoveries	53	887	1,157
Provision for (Benefit from) Credit Losses	(7)	4,542	9,194
Ending  Balance	12,069	9,042	13,597
Commercial and industrial | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		81	81
Construction
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	5,142	5,667	5,667
ACL on PCD Loans		201
Charge-offs	0	0	0
Recoveries	0	0	0
Provision for (Benefit from) Credit Losses	513	1,569	(726)
Ending  Balance	5,655	7,437	5,142
Construction | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		201	201
Agriculture production
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	906	1,215	1,215
ACL on PCD Loans		38
Charge-offs	0	0	0
Recoveries	1	1	4
Provision for (Benefit from) Credit Losses	(74)	(371)	(351)
Ending  Balance	833	883	906
Agriculture production | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		38	38
Leases
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	15	18	18
ACL on PCD Loans		0
Charge-offs	0	0	0
Recoveries	0	0	0
Provision for (Benefit from) Credit Losses	2	(2)	(3)
Ending  Balance	17	16	15
Leases | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		0	0
CRE non-owner occupied | Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	30,962	25,739	25,739
ACL on PCD Loans		746
Charge-offs	0	0	0
Recoveries	0	0	1
Provision for (Benefit from) Credit Losses	2,001	1,570	4,476
Ending  Balance	32,963	28,055	30,962
CRE non-owner occupied | Commercial real estate | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		746	746
CRE owner occupied | Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	14,014	10,691	10,691
ACL on PCD Loans		63
Charge-offs	0	0	0
Recoveries	0	0	2
Provision for (Benefit from) Credit Losses	545	1,317	3,258
Ending  Balance	14,559	12,071	14,014
CRE owner occupied | Commercial real estate | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		63	63
Multifamily | Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	13,132	12,395	12,395
ACL on PCD Loans		0
Charge-offs	0	0	0
Recoveries	0	0	0
Provision for (Benefit from) Credit Losses	741	(408)	737
Ending  Balance	13,873	11,987	13,132
Multifamily | Commercial real estate | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		0	0
Farmland | Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	3,273	2,315	2,315
ACL on PCD Loans		764
Charge-offs	0	(294)	(294)
Recoveries	0	0	0
Provision for (Benefit from) Credit Losses	269	94	488
Ending  Balance	3,542	2,879	3,273
Farmland | Commercial real estate | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		764	764
SFR 1-4 1st DT liens | Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	11,268	10,723	10,723
ACL on PCD Loans		144
Charge-offs	0	0	0
Recoveries	0	40	79
Provision for (Benefit from) Credit Losses	652	(238)	322
Ending  Balance	11,920	10,669	11,268
SFR 1-4 1st DT liens | Consumer | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		144	144
SFR HELOCs and junior liens | Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	11,413	10,510	10,510
ACL on PCD Loans		0
Charge-offs	(42)	0	(22)
Recoveries	65	175	429
Provision for (Benefit from) Credit Losses	(522)	158	496
Ending  Balance	10,914	10,843	11,413
SFR HELOCs and junior liens | Consumer | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		0	0
Other | Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	1,958	2,241	2,241
ACL on PCD Loans		0
Charge-offs	(142)	(119)	(572)
Recoveries	51	71	235
Provision for (Benefit from) Credit Losses	195	(26)	54
Ending  Balance	$ 2,062	2,167	1,958
Other | Consumer | ACL of PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		$ 0	$ 0

XML

Allowance for Credit Losses - Summary of Loans and Lease Purchased and Acquired with Credit Deterioration (Details) $ in Thousands	Mar. 25, 2022 USD ($)
Financing Receivable, Past Due [Line Items]
Par value	$ 68,513
ACL at acquisition	(2,037)
Non-credit discount	(2,956)
Purchase price	63,520
Commercial real estate
Financing Receivable, Past Due [Line Items]
Par value	27,237
ACL at acquisition	(1,573)
Non-credit discount	(2,305)
Purchase price	23,359
Consumer
Financing Receivable, Past Due [Line Items]
Par value	3,877
ACL at acquisition	(144)
Non-credit discount	(360)
Purchase price	3,373
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Par value	2,674
ACL at acquisition	(81)
Non-credit discount	(47)
Purchase price	2,546
Construction
Financing Receivable, Past Due [Line Items]
Par value	25,645
ACL at acquisition	(201)
Non-credit discount	(232)
Purchase price	25,212
Agriculture production
Financing Receivable, Past Due [Line Items]
Par value	9,080
ACL at acquisition	(38)
Non-credit discount	(12)
Purchase price	$ 9,030

XML

Allowance for Credit Losses - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Allowance For Loan And Lease Losses [Abstract]
Threshold for loan analysis	$ 1,000
Interest lost on nonaccrual loans	320	$ 170
Interest income on nonaccrual loans	$ 17	$ 13

XML

Allowance for Credit Losses - Schedule Credit Quality Indicators (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	$ 139,463	$ 1,246,402
Fiscal year before latest fiscal year	1,258,812	1,284,725
Two years before latest fiscal year	1,278,346	607,121
Three years before latest fiscal year	595,072	526,167
Four years before latest fiscal year	512,570	378,767
Prior	1,694,156	1,383,071
Revolving Loans Amortized Cost Basis	930,795	1,010,395
Revolving Loans Converted to Term	13,207	13,799
Total	6,422,421	6,450,447
Current period gross write-offs
Current fiscal year	102
Fiscal year before latest fiscal year	6
Two years before latest fiscal year	0
Three years before latest fiscal year	1,550
Four years before latest fiscal year	29
Prior	7
Revolving Loans Amortized Cost Basis	3
Revolving Loans Converted to Term	61
Total	1,758
Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	4,353,959	4,359,083
Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	1,233,797	1,240,743
Commercial and industrial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	34,798	130,035
Fiscal year before latest fiscal year	111,780	66,247
Two years before latest fiscal year	66,419	22,946
Three years before latest fiscal year	19,056	23,194
Four years before latest fiscal year	20,317	7,799
Prior	12,428	6,430
Revolving Loans Amortized Cost Basis	287,798	312,686
Revolving Loans Converted to Term	502	584
Total	553,098	569,921
Current period gross write-offs
Current fiscal year	6
Fiscal year before latest fiscal year	0
Two years before latest fiscal year	0
Three years before latest fiscal year	1,550
Four years before latest fiscal year	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	18
Total	1,574
Construction
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	10,823	72,840
Fiscal year before latest fiscal year	93,294	72,308
Two years before latest fiscal year	67,911	43,409
Three years before latest fiscal year	41,776	15,815
Four years before latest fiscal year	5,362	2,159
Prior	6,830	5,029
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	225,996	211,560
Current period gross write-offs
Current fiscal year	0
Fiscal year before latest fiscal year	0
Two years before latest fiscal year	0
Three years before latest fiscal year	0
Four years before latest fiscal year	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	0
Agriculture production
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	50	3,414
Fiscal year before latest fiscal year	3,140	2,777
Two years before latest fiscal year	2,567	1,149
Three years before latest fiscal year	1,003	1,104
Four years before latest fiscal year	929	8,992
Prior	9,858	1,089
Revolving Loans Amortized Cost Basis	29,515	42,889
Revolving Loans Converted to Term	0	0
Total	47,062	61,414
Current period gross write-offs
Current fiscal year	0
Fiscal year before latest fiscal year	0
Two years before latest fiscal year	0
Three years before latest fiscal year	0
Four years before latest fiscal year	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	0
Leases
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	8,509	7,726
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	8,509	7,726
Current period gross write-offs
Current fiscal year	0
Fiscal year before latest fiscal year	0
Two years before latest fiscal year	0
Three years before latest fiscal year	0
Four years before latest fiscal year	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	0
CRE non-owner occupied | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	29,991	399,910
Fiscal year before latest fiscal year	412,225	305,500
Two years before latest fiscal year	301,615	153,728
Three years before latest fiscal year	152,929	241,692
Four years before latest fiscal year	246,035	148,901
Prior	895,937	774,854
Revolving Loans Amortized Cost Basis	122,327	125,140
Revolving Loans Converted to Term	0	0
Total	2,161,059	2,149,725
Current period gross write-offs
Current fiscal year	0
Fiscal year before latest fiscal year	0
Two years before latest fiscal year	0
Three years before latest fiscal year	0
Four years before latest fiscal year	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	0
CRE owner occupied | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	17,630	213,445
Fiscal year before latest fiscal year	204,626	214,083
Two years before latest fiscal year	211,712	126,412
Three years before latest fiscal year	127,305	66,868
Four years before latest fiscal year	65,924	50,858
Prior	309,492	268,762
Revolving Loans Amortized Cost Basis	34,521	44,379
Revolving Loans Converted to Term	0	0
Total	971,210	984,807
Current period gross write-offs
Current fiscal year	0
Fiscal year before latest fiscal year	0
Two years before latest fiscal year	0
Three years before latest fiscal year	0
Four years before latest fiscal year	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	0
Multifamily | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	2,849	159,318
Fiscal year before latest fiscal year	178,177	290,170
Two years before latest fiscal year	289,301	96,937
Three years before latest fiscal year	95,352	108,586
Four years before latest fiscal year	108,051	106,287
Prior	239,439	154,250
Revolving Loans Amortized Cost Basis	33,524	28,989
Revolving Loans Converted to Term	0	0
Total	946,693	944,537
Current period gross write-offs
Current fiscal year	0
Fiscal year before latest fiscal year	0
Two years before latest fiscal year	0
Three years before latest fiscal year	0
Four years before latest fiscal year	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	0
Farmland | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	14,429	50,206
Fiscal year before latest fiscal year	49,493	54,058
Two years before latest fiscal year	53,921	18,757
Three years before latest fiscal year	17,105	24,354
Four years before latest fiscal year	23,037	15,544
Prior	61,147	45,613
Revolving Loans Amortized Cost Basis	55,865	71,482
Revolving Loans Converted to Term	0	0
Total	274,997	280,014
Current period gross write-offs
Current fiscal year	0
Fiscal year before latest fiscal year	0
Two years before latest fiscal year	0
Three years before latest fiscal year	0
Four years before latest fiscal year	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	0
SFR 1-4 1st DT liens | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	15,719	194,933
Fiscal year before latest fiscal year	194,189	266,574
Two years before latest fiscal year	272,843	133,453
Three years before latest fiscal year	131,064	33,677
Four years before latest fiscal year	33,035	32,826
Prior	152,345	124,844
Revolving Loans Amortized Cost Basis	8	8
Revolving Loans Converted to Term	4,204	4,034
Total	803,407	790,349
Current period gross write-offs
Current fiscal year	0
Fiscal year before latest fiscal year	0
Two years before latest fiscal year	0
Three years before latest fiscal year	0
Four years before latest fiscal year	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	0
SFR HELOCs and junior liens | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	360	505
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	119	127
Revolving Loans Amortized Cost Basis	366,611	383,853
Revolving Loans Converted to Term	8,501	9,181
Total	375,591	393,666
Current period gross write-offs
Current fiscal year	0
Fiscal year before latest fiscal year	0
Two years before latest fiscal year	0
Three years before latest fiscal year	0
Four years before latest fiscal year	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	43
Total	43
Other | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	4,305	14,070
Fiscal year before latest fiscal year	11,888	13,008
Two years before latest fiscal year	12,057	10,330
Three years before latest fiscal year	9,482	10,877
Four years before latest fiscal year	9,880	5,401
Prior	6,561	2,073
Revolving Loans Amortized Cost Basis	626	969
Revolving Loans Converted to Term	0	0
Total	54,799	56,728
Current period gross write-offs
Current fiscal year	96
Fiscal year before latest fiscal year	6
Two years before latest fiscal year	0
Three years before latest fiscal year	0
Four years before latest fiscal year	29
Prior	7
Revolving Loans Amortized Cost Basis	3
Revolving Loans Converted to Term	0
Total	141
Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	139,419	1,235,594
Fiscal year before latest fiscal year	1,247,336	1,264,279
Two years before latest fiscal year	1,249,365	592,002
Three years before latest fiscal year	581,610	496,716
Four years before latest fiscal year	483,868	368,729
Prior	1,621,034	1,317,334
Revolving Loans Amortized Cost Basis	898,564	965,422
Revolving Loans Converted to Term	11,766	11,869
Total	6,232,962	6,251,945
Pass | Commercial and industrial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	34,754	125,710
Fiscal year before latest fiscal year	107,807	64,966
Two years before latest fiscal year	64,490	17,746
Three years before latest fiscal year	15,801	23,131
Four years before latest fiscal year	20,277	7,628
Prior	11,093	5,051
Revolving Loans Amortized Cost Basis	273,269	297,341
Revolving Loans Converted to Term	402	483
Total	527,893	542,056
Pass | Construction
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	10,823	72,840
Fiscal year before latest fiscal year	93,294	72,308
Two years before latest fiscal year	67,911	43,409
Three years before latest fiscal year	41,776	15,358
Four years before latest fiscal year	4,904	2,159
Prior	6,736	4,900
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	225,444	210,974
Pass | Agriculture production
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	50	3,414
Fiscal year before latest fiscal year	3,140	2,777
Two years before latest fiscal year	2,567	1,149
Three years before latest fiscal year	1,003	1,104
Four years before latest fiscal year	929	8,902
Prior	9,755	1,058
Revolving Loans Amortized Cost Basis	21,690	38,425
Revolving Loans Converted to Term	0	0
Total	39,134	56,829
Pass | Leases
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	8,509	7,726
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	8,509	7,726
Pass | CRE non-owner occupied | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	29,991	399,910
Fiscal year before latest fiscal year	412,225	304,636
Two years before latest fiscal year	293,358	152,960
Three years before latest fiscal year	152,186	221,659
Four years before latest fiscal year	225,912	147,842
Prior	868,576	748,994
Revolving Loans Amortized Cost Basis	120,771	123,794
Revolving Loans Converted to Term	0	0
Total	2,103,019	2,099,795
Pass | CRE owner occupied | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	17,630	210,101
Fiscal year before latest fiscal year	201,342	197,787
Two years before latest fiscal year	194,894	120,929
Three years before latest fiscal year	121,856	64,244
Four years before latest fiscal year	63,323	49,755
Prior	291,219	251,137
Revolving Loans Amortized Cost Basis	33,526	43,343
Revolving Loans Converted to Term	0	0
Total	923,790	937,296
Pass | Multifamily | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	2,849	159,318
Fiscal year before latest fiscal year	178,177	290,170
Two years before latest fiscal year	289,301	96,937
Three years before latest fiscal year	95,352	108,586
Four years before latest fiscal year	108,051	106,287
Prior	239,322	154,125
Revolving Loans Amortized Cost Basis	33,524	28,989
Revolving Loans Converted to Term	0	0
Total	946,576	944,412
Pass | Farmland | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	14,429	47,067
Fiscal year before latest fiscal year	46,353	53,275
Two years before latest fiscal year	53,146	16,739
Three years before latest fiscal year	16,430	18,589
Four years before latest fiscal year	18,037	12,386
Prior	46,924	34,528
Revolving Loans Amortized Cost Basis	52,382	53,684
Revolving Loans Converted to Term	0	0
Total	247,701	236,268
Pass | SFR 1-4 1st DT liens | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	15,719	194,933
Fiscal year before latest fiscal year	193,110	265,370
Two years before latest fiscal year	271,654	131,922
Three years before latest fiscal year	127,830	33,395
Four years before latest fiscal year	32,755	28,545
Prior	141,016	115,469
Revolving Loans Amortized Cost Basis	8	8
Revolving Loans Converted to Term	3,506	2,924
Total	785,598	772,566
Pass | SFR HELOCs and junior liens | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	360	505
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	119	127
Revolving Loans Amortized Cost Basis	362,806	378,939
Revolving Loans Converted to Term	7,858	8,462
Total	371,143	388,033
Pass | Other | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	4,305	14,070
Fiscal year before latest fiscal year	11,888	12,990
Two years before latest fiscal year	12,044	10,211
Three years before latest fiscal year	9,376	10,650
Four years before latest fiscal year	9,680	5,225
Prior	6,274	1,945
Revolving Loans Amortized Cost Basis	588	899
Revolving Loans Converted to Term	0	0
Total	54,155	55,990
Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	44	6,302
Fiscal year before latest fiscal year	7,100	17,236
Two years before latest fiscal year	24,321	2,109
Three years before latest fiscal year	3,854	26,230
Four years before latest fiscal year	26,068	3,681
Prior	46,737	39,328
Revolving Loans Amortized Cost Basis	17,278	31,568
Revolving Loans Converted to Term	90	546
Total	125,492	127,000
Special Mention | Commercial and industrial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	44	3,032
Fiscal year before latest fiscal year	2,750	139
Two years before latest fiscal year	60	21
Three years before latest fiscal year	20	49
Four years before latest fiscal year	29	138
Prior	1,037	768
Revolving Loans Amortized Cost Basis	9,453	11,547
Revolving Loans Converted to Term	0	0
Total	13,393	15,694
Special Mention | Construction
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Special Mention | Agriculture production
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	90
Prior	103	31
Revolving Loans Amortized Cost Basis	4,769	1,632
Revolving Loans Converted to Term	0	0
Total	4,872	1,753
Special Mention | Leases
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Special Mention | CRE non-owner occupied | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	7,430	0
Three years before latest fiscal year	0	20,033
Four years before latest fiscal year	19,905	0
Prior	25,555	21,681
Revolving Loans Amortized Cost Basis	1,556	1,346
Revolving Loans Converted to Term	0	0
Total	54,446	43,060
Special Mention | CRE owner occupied | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	131
Fiscal year before latest fiscal year	131	16,296
Two years before latest fiscal year	16,818	234
Three years before latest fiscal year	232	731
Four years before latest fiscal year	724	0
Prior	7,794	6,971
Revolving Loans Amortized Cost Basis	838	879
Revolving Loans Converted to Term	0	0
Total	26,537	25,242
Special Mention | Multifamily | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Special Mention | Farmland | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	3,139
Fiscal year before latest fiscal year	3,140	783
Two years before latest fiscal year	0	246
Three years before latest fiscal year	304	5,000
Four years before latest fiscal year	5,000	0
Prior	3,386	3,991
Revolving Loans Amortized Cost Basis	0	14,275
Revolving Loans Converted to Term	0	0
Total	11,830	27,434
Special Mention | SFR 1-4 1st DT liens | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	1,079	0
Two years before latest fiscal year	0	1,531
Three years before latest fiscal year	3,234	282
Four years before latest fiscal year	280	3,277
Prior	8,662	5,854
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	67	465
Total	13,322	11,409
Special Mention | SFR HELOCs and junior liens | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	646	1,842
Revolving Loans Converted to Term	23	81
Total	669	1,923
Special Mention | Other | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	18
Two years before latest fiscal year	13	77
Three years before latest fiscal year	64	135
Four years before latest fiscal year	130	176
Prior	200	32
Revolving Loans Amortized Cost Basis	16	47
Revolving Loans Converted to Term	0	0
Total	423	485
Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	4,506
Fiscal year before latest fiscal year	4,376	3,210
Two years before latest fiscal year	4,660	13,010
Three years before latest fiscal year	9,608	3,221
Four years before latest fiscal year	2,634	6,357
Prior	26,385	26,409
Revolving Loans Amortized Cost Basis	14,953	13,405
Revolving Loans Converted to Term	1,351	1,384
Total	63,967	71,502
Substandard | Commercial and industrial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	1,293
Fiscal year before latest fiscal year	1,223	1,142
Two years before latest fiscal year	1,869	5,179
Three years before latest fiscal year	3,235	14
Four years before latest fiscal year	11	33
Prior	298	611
Revolving Loans Amortized Cost Basis	5,076	3,798
Revolving Loans Converted to Term	100	101
Total	11,812	12,171
Substandard | Construction
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	457
Four years before latest fiscal year	458	0
Prior	94	129
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	552	586
Substandard | Agriculture production
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	3,056	2,832
Revolving Loans Converted to Term	0	0
Total	3,056	2,832
Substandard | Leases
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Substandard | CRE non-owner occupied | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	864
Two years before latest fiscal year	827	768
Three years before latest fiscal year	743	0
Four years before latest fiscal year	218	1,059
Prior	1,806	4,179
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	3,594	6,870
Substandard | CRE owner occupied | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	3,213
Fiscal year before latest fiscal year	3,153	0
Two years before latest fiscal year	0	5,249
Three years before latest fiscal year	5,217	1,893
Four years before latest fiscal year	1,877	1,103
Prior	10,479	10,654
Revolving Loans Amortized Cost Basis	157	157
Revolving Loans Converted to Term	0	0
Total	20,883	22,269
Substandard | Multifamily | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	117	125
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	117	125
Substandard | Farmland | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	775	1,772
Three years before latest fiscal year	371	765
Four years before latest fiscal year	0	3,158
Prior	10,837	7,094
Revolving Loans Amortized Cost Basis	3,483	3,523
Revolving Loans Converted to Term	0	0
Total	15,466	16,312
Substandard | SFR 1-4 1st DT liens | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	1,204
Two years before latest fiscal year	1,189	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	1,004
Prior	2,667	3,521
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	631	645
Total	4,487	6,374
Substandard | SFR HELOCs and junior liens | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	3,159	3,072
Revolving Loans Converted to Term	620	638
Total	3,779	3,710
Substandard | Other | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	42
Three years before latest fiscal year	42	92
Four years before latest fiscal year	70	0
Prior	87	96
Revolving Loans Amortized Cost Basis	22	23
Revolving Loans Converted to Term	0	0
Total	221	253
Doubtful/Loss
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Commercial and industrial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Construction
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Agriculture production
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Leases
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | CRE non-owner occupied | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | CRE owner occupied | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Multifamily | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Farmland | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | SFR 1-4 1st DT liens | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | SFR HELOCs and junior liens | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Other | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before latest fiscal year	0	0
Two years before latest fiscal year	0	0
Three years before latest fiscal year	0	0
Four years before latest fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	$ 0	$ 0

XML

Allowance for Credit Losses - Analysis of Past Due and Nonaccrual Loans (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Loans	$ 6,422,421	$ 6,450,447
Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	4,353,959	4,359,083
Consumer
Financing Receivable, Past Due [Line Items]
Loans	1,233,797	1,240,743
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans	553,098	569,921
Construction
Financing Receivable, Past Due [Line Items]
Loans	225,996	211,560
Agriculture production
Financing Receivable, Past Due [Line Items]
Loans	47,062	61,414
Leases
Financing Receivable, Past Due [Line Items]
Loans	8,509	7,726
CRE non-owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	2,161,059	2,149,725
CRE owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	971,210	984,807
Multifamily | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	946,693	944,537
Farmland | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	274,997	280,014
SFR 1-4 1st DT liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	803,407	790,349
SFR HELOCs and junior liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	375,591	393,666
Other | Consumer
Financing Receivable, Past Due [Line Items]
Loans	54,799	56,728
Financial Asset Originated
Financing Receivable, Past Due [Line Items]
Loans	6,422,421	6,450,447
Financial Asset Originated | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	4,353,959	4,359,083
Financial Asset Originated | Consumer
Financing Receivable, Past Due [Line Items]
Loans	1,233,797	1,240,743
Financial Asset Originated | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans	553,098	569,921
Financial Asset Originated | Construction
Financing Receivable, Past Due [Line Items]
Loans	225,996	211,560
Financial Asset Originated | Agriculture production
Financing Receivable, Past Due [Line Items]
Loans	47,062	61,414
Financial Asset Originated | Leases
Financing Receivable, Past Due [Line Items]
Loans	8,509	7,726
Financial Asset Originated | CRE non-owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	2,161,059	2,149,725
Financial Asset Originated | CRE owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	971,210	984,807
Financial Asset Originated | Multifamily | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	946,693	944,537
Financial Asset Originated | Farmland | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	274,997	280,014
Financial Asset Originated | SFR 1-4 1st DT liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	803,407	790,349
Financial Asset Originated | SFR HELOCs and junior liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	375,591	393,666
Financial Asset Originated | Other | Consumer
Financing Receivable, Past Due [Line Items]
Loans	54,799	56,728
Total Past Due Loans | Financial Asset Originated
Financing Receivable, Past Due [Line Items]
Loans	7,891	4,947
Total Past Due Loans | Financial Asset Originated | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	1,183	332
Total Past Due Loans | Financial Asset Originated | Consumer
Financing Receivable, Past Due [Line Items]
Loans	3,796	1,463
Total Past Due Loans | Financial Asset Originated | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans	2,455	2,773
Total Past Due Loans | Financial Asset Originated | Construction
Financing Receivable, Past Due [Line Items]
Loans	457	379
Total Past Due Loans | Financial Asset Originated | Agriculture production
Financing Receivable, Past Due [Line Items]
Loans	0	0
Total Past Due Loans | Financial Asset Originated | Leases
Financing Receivable, Past Due [Line Items]
Loans	0	0
Total Past Due Loans | Financial Asset Originated | CRE non-owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	623	0
Total Past Due Loans | Financial Asset Originated | CRE owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	410	173
Total Past Due Loans | Financial Asset Originated | Multifamily | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	0	159
Total Past Due Loans | Financial Asset Originated | Farmland | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	150	0
Total Past Due Loans | Financial Asset Originated | SFR 1-4 1st DT liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	1,355	303
Total Past Due Loans | Financial Asset Originated | SFR HELOCs and junior liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	2,135	1,045
Total Past Due Loans | Financial Asset Originated | Other | Consumer
Financing Receivable, Past Due [Line Items]
Loans	306	115
30-59 days | Financial Asset Originated
Financing Receivable, Past Due [Line Items]
Loans	1,891	2,681
30-59 days | Financial Asset Originated | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	929	159
30-59 days | Financial Asset Originated | Consumer
Financing Receivable, Past Due [Line Items]
Loans	491	222
30-59 days | Financial Asset Originated | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans	471	2,300
30-59 days | Financial Asset Originated | Construction
Financing Receivable, Past Due [Line Items]
Loans	0	0
30-59 days | Financial Asset Originated | Agriculture production
Financing Receivable, Past Due [Line Items]
Loans	0	0
30-59 days | Financial Asset Originated | Leases
Financing Receivable, Past Due [Line Items]
Loans	0	0
30-59 days | Financial Asset Originated | CRE non-owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	623	0
30-59 days | Financial Asset Originated | CRE owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	156	0
30-59 days | Financial Asset Originated | Multifamily | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	0	159
30-59 days | Financial Asset Originated | Farmland | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	150	0
30-59 days | Financial Asset Originated | SFR 1-4 1st DT liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	442	24
30-59 days | Financial Asset Originated | SFR HELOCs and junior liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	0	172
30-59 days | Financial Asset Originated | Other | Consumer
Financing Receivable, Past Due [Line Items]
Loans	49	26
60-89 days | Financial Asset Originated
Financing Receivable, Past Due [Line Items]
Loans	3,815	488
60-89 days | Financial Asset Originated | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	82	98
60-89 days | Financial Asset Originated | Consumer
Financing Receivable, Past Due [Line Items]
Loans	2,035	200
60-89 days | Financial Asset Originated | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans	1,620	190
60-89 days | Financial Asset Originated | Construction
Financing Receivable, Past Due [Line Items]
Loans	78	0
60-89 days | Financial Asset Originated | Agriculture production
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 days | Financial Asset Originated | Leases
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 days | Financial Asset Originated | CRE non-owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 days | Financial Asset Originated | CRE owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	82	98
60-89 days | Financial Asset Originated | Multifamily | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 days | Financial Asset Originated | Farmland | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 days | Financial Asset Originated | SFR 1-4 1st DT liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	557	0
60-89 days | Financial Asset Originated | SFR HELOCs and junior liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	1,342	166
60-89 days | Financial Asset Originated | Other | Consumer
Financing Receivable, Past Due [Line Items]
Loans	136	34
> 90 days | Financial Asset Originated
Financing Receivable, Past Due [Line Items]
Loans	2,185	1,778
> 90 days | Financial Asset Originated | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	172	75
> 90 days | Financial Asset Originated | Consumer
Financing Receivable, Past Due [Line Items]
Loans	1,270	1,041
> 90 days | Financial Asset Originated | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans	364	283
> 90 days | Financial Asset Originated | Construction
Financing Receivable, Past Due [Line Items]
Loans	379	379
> 90 days | Financial Asset Originated | Agriculture production
Financing Receivable, Past Due [Line Items]
Loans	0	0
> 90 days | Financial Asset Originated | Leases
Financing Receivable, Past Due [Line Items]
Loans	0	0
> 90 days | Financial Asset Originated | CRE non-owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	0	0
> 90 days | Financial Asset Originated | CRE owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	172	75
> 90 days | Financial Asset Originated | Multifamily | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	0	0
> 90 days | Financial Asset Originated | Farmland | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	0	0
> 90 days | Financial Asset Originated | SFR 1-4 1st DT liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	356	279
> 90 days | Financial Asset Originated | SFR HELOCs and junior liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	793	707
> 90 days | Financial Asset Originated | Other | Consumer
Financing Receivable, Past Due [Line Items]
Loans	121	55
Current | Financial Asset Originated
Financing Receivable, Past Due [Line Items]
Loans	6,414,530	6,445,500
Current | Financial Asset Originated | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	4,352,776	4,358,751
Current | Financial Asset Originated | Consumer
Financing Receivable, Past Due [Line Items]
Loans	1,230,001	1,239,280
Current | Financial Asset Originated | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans	550,643	567,148
Current | Financial Asset Originated | Construction
Financing Receivable, Past Due [Line Items]
Loans	225,539	211,181
Current | Financial Asset Originated | Agriculture production
Financing Receivable, Past Due [Line Items]
Loans	47,062	61,414
Current | Financial Asset Originated | Leases
Financing Receivable, Past Due [Line Items]
Loans	8,509	7,726
Current | Financial Asset Originated | CRE non-owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	2,160,436	2,149,725
Current | Financial Asset Originated | CRE owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	970,800	984,634
Current | Financial Asset Originated | Multifamily | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	946,693	944,378
Current | Financial Asset Originated | Farmland | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	274,847	280,014
Current | Financial Asset Originated | SFR 1-4 1st DT liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	802,052	790,046
Current | Financial Asset Originated | SFR HELOCs and junior liens | Consumer
Financing Receivable, Past Due [Line Items]
Loans	373,456	392,621
Current | Financial Asset Originated | Other | Consumer
Financing Receivable, Past Due [Line Items]
Loans	$ 54,493	$ 56,613

XML

Allowance for Credit Losses - Schedule of Non Accrual Loans (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	$ 13,841	$ 18,125
Non accrual, no allowance including guaranteed loans	13,916	18,230
Non accrual including guaranteed loans	15,837	21,321
Total non accrual	15,607	21,096
Past due 90 days or more and still accruing	189	0
Loans Insured or Guaranteed by US Government Authorities
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	75	105
Total non accrual	230	225
Commercial real estate
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	6,007	8,574
Total non accrual	6,007	8,574
Past due 90 days or more and still accruing	0	0
Consumer
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	6,400	6,662
Total non accrual	7,044	7,459
Past due 90 days or more and still accruing	0	0
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	95	1,224
Total non accrual	1,372	3,518
Past due 90 days or more and still accruing	189	0
Construction
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	457	491
Total non accrual	457	491
Past due 90 days or more and still accruing	0	0
Agriculture production
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	957	1,279
Total non accrual	957	1,279
Past due 90 days or more and still accruing	0	0
Leases
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	0	0
Total non accrual	0	0
Past due 90 days or more and still accruing	0	0
CRE non-owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	1,671	1,739
Total non accrual	1,671	1,739
Past due 90 days or more and still accruing	0	0
CRE owner occupied | Commercial real estate
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	3,848	4,938
Total non accrual	3,848	4,938
Past due 90 days or more and still accruing	0	0
Multifamily | Commercial real estate
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	117	125
Total non accrual	117	125
Past due 90 days or more and still accruing	0	0
Farmland | Commercial real estate
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	371	1,772
Total non accrual	371	1,772
Past due 90 days or more and still accruing	0	0
SFR 1-4 1st DT liens | Consumer
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	3,532	4,117
Total non accrual	3,532	4,220
Past due 90 days or more and still accruing	0	0
SFR HELOCs and junior liens | Consumer
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	2,790	2,498
Total non accrual	3,373	3,155
Past due 90 days or more and still accruing	0	0
Other | Consumer
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	78	47
Total non accrual	139	84
Past due 90 days or more and still accruing	$ 0	$ 0

XML

Allowance for Credit Losses - Amortized Cost Basis of Collateral Dependent Loans, By Class of Loan (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 6,422,421	$ 6,450,447
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,272	1,325
Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	170	173
Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	1,103
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4,460	6,334
Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	117	125
Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	371	1,772
SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	5,315	5,996
SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,308	1,121
Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	124	61
A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,298	1,596
Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,033	1,329
Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	15,468	20,935
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4,353,959	4,359,083
Commercial real estate | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,272	1,325
Commercial real estate | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	170	173
Commercial real estate | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	1,103
Commercial real estate | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4,077	4,076
Commercial real estate | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	117	125
Commercial real estate | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	371	1,772
Commercial real estate | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial real estate | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial real estate | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial real estate | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial real estate | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial real estate | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	6,007	8,574
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,233,797	1,240,743
Consumer | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4	5
Consumer | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	5,237	5,884
Consumer | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,308	1,121
Consumer | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	124	61
Consumer | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2	2
Consumer | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	6,675	7,073
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	553,098	569,921
Commercial and industrial | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial and industrial | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial and industrial | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial and industrial | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	1,874
Commercial and industrial | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial and industrial | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial and industrial | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial and industrial | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial and industrial | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial and industrial | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,298	1,596
Commercial and industrial | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	74	48
Commercial and industrial | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,372	3,518
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	225,996	211,560
Construction | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Construction | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Construction | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Construction | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	379	379
Construction | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Construction | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Construction | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	78	112
Construction | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Construction | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Construction | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Construction | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Construction | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	457	491
Agriculture production
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	47,062	61,414
Agriculture production | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Agriculture production | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Agriculture production | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Agriculture production | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Agriculture production | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Agriculture production | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Agriculture production | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Agriculture production | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Agriculture production | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Agriculture production | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Agriculture production | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	957	1,279
Agriculture production | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	957	1,279
Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	8,509	7,726
Leases | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leases | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leases | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leases | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leases | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leases | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leases | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leases | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leases | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leases | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leases | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leases | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE non-owner occupied | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,161,059	2,149,725
CRE non-owner occupied | Commercial real estate | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	749	777
CRE non-owner occupied | Commercial real estate | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	95	98
CRE non-owner occupied | Commercial real estate | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE non-owner occupied | Commercial real estate | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	827	864
CRE non-owner occupied | Commercial real estate | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE non-owner occupied | Commercial real estate | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE non-owner occupied | Commercial real estate | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE non-owner occupied | Commercial real estate | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE non-owner occupied | Commercial real estate | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE non-owner occupied | Commercial real estate | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE non-owner occupied | Commercial real estate | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE non-owner occupied | Commercial real estate | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,671	1,739
CRE owner occupied | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	971,210	984,807
CRE owner occupied | Commercial real estate | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	523	548
CRE owner occupied | Commercial real estate | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	75	75
CRE owner occupied | Commercial real estate | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	1,103
CRE owner occupied | Commercial real estate | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,250	3,212
CRE owner occupied | Commercial real estate | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE owner occupied | Commercial real estate | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE owner occupied | Commercial real estate | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE owner occupied | Commercial real estate | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE owner occupied | Commercial real estate | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE owner occupied | Commercial real estate | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE owner occupied | Commercial real estate | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
CRE owner occupied | Commercial real estate | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,848	4,938
Multifamily | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	946,693	944,537
Multifamily | Commercial real estate | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Multifamily | Commercial real estate | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Multifamily | Commercial real estate | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Multifamily | Commercial real estate | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Multifamily | Commercial real estate | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	117	125
Multifamily | Commercial real estate | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Multifamily | Commercial real estate | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Multifamily | Commercial real estate | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Multifamily | Commercial real estate | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Multifamily | Commercial real estate | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Multifamily | Commercial real estate | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Multifamily | Commercial real estate | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	117	125
Farmland | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	274,997	280,014
Farmland | Commercial real estate | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Farmland | Commercial real estate | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Farmland | Commercial real estate | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Farmland | Commercial real estate | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Farmland | Commercial real estate | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Farmland | Commercial real estate | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	371	1,772
Farmland | Commercial real estate | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Farmland | Commercial real estate | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Farmland | Commercial real estate | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Farmland | Commercial real estate | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Farmland | Commercial real estate | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Farmland | Commercial real estate | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	371	1,772
SFR 1-4 1st DT liens | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	803,407	790,349
SFR 1-4 1st DT liens | Consumer | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR 1-4 1st DT liens | Consumer | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR 1-4 1st DT liens | Consumer | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR 1-4 1st DT liens | Consumer | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR 1-4 1st DT liens | Consumer | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR 1-4 1st DT liens | Consumer | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR 1-4 1st DT liens | Consumer | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,532	4,220
SFR 1-4 1st DT liens | Consumer | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR 1-4 1st DT liens | Consumer | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR 1-4 1st DT liens | Consumer | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR 1-4 1st DT liens | Consumer | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR 1-4 1st DT liens | Consumer | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,532	4,220
SFR HELOCs and junior liens | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	375,591	393,666
SFR HELOCs and junior liens | Consumer | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR HELOCs and junior liens | Consumer | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR HELOCs and junior liens | Consumer | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR HELOCs and junior liens | Consumer | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR HELOCs and junior liens | Consumer | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR HELOCs and junior liens | Consumer | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR HELOCs and junior liens | Consumer | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,705	1,664
SFR HELOCs and junior liens | Consumer | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,308	1,121
SFR HELOCs and junior liens | Consumer | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR HELOCs and junior liens | Consumer | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR HELOCs and junior liens | Consumer | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
SFR HELOCs and junior liens | Consumer | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,013	2,785
Other | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	54,799	56,728
Other | Consumer | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4	5
Other | Consumer | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | SFR-1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | SFR-2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	124	61
Other | Consumer | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2	2
Other | Consumer | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 130	$ 68

XML

Allowance for Credit Losses - Amortized Cost Basis of Loans Experiencing Financial difficulty and Modified (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 177
Total % of Loans Outstanding (Percentage)	0.03%
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 0
Total % of Loans Outstanding (Percentage)	0.00%
Commercial real estate | CRE non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 0
Total % of Loans Outstanding (Percentage)	0.00%
Commercial real estate | CRE owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 0
Total % of Loans Outstanding (Percentage)	0.00%
Commercial real estate | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 0
Total % of Loans Outstanding (Percentage)	0.00%
Commercial real estate | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 0
Total % of Loans Outstanding (Percentage)	0.00%
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 0
Total % of Loans Outstanding (Percentage)	0.00%
Consumer | SFR 1-4 1st DT liens
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 0
Total % of Loans Outstanding (Percentage)	0.00%
Consumer | SFR HELOCs and junior liens
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 0
Total % of Loans Outstanding (Percentage)	0.00%
Consumer | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 0
Total % of Loans Outstanding (Percentage)	0.00%
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 177
Total % of Loans Outstanding (Percentage)	0.03%
Weighted average term extension	12 months
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 0
Total % of Loans Outstanding (Percentage)	0.00%
Agriculture production
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 0
Total % of Loans Outstanding (Percentage)	0.00%
Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment Delay/Term Extension	$ 0
Total % of Loans Outstanding (Percentage)	0.00%

XML

Leases - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023 renewalOption
Leases [Abstract]
Number of lease renewal options (in renewal options)	1

XML

Leases - Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating lease cost	$ 1,609	$ 1,319
Short-term lease cost	118	53
Variable lease cost	12	2
Sublease income	0	0
Total lease cost	$ 1,739	$ 1,374

XML

Leases - Supplemental Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating cash flows for operating leases	$ 1,653	$ 1,292
ROUA obtained in exchange for operating lease liabilities	$ 4,484	$ 3,867

XML

Leases - Weighted Average Operating Lease Term And Discount Rate (Detail)	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Weighted-average remaining lease term (years)	8 years 3 months 18 days	8 years 9 months 18 days
Weighted-average discount rate	3.27%	2.90%

XML

Leases - Future Minimum Rental Payments For Operating Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2023	$ 4,505
2024	5,798
2025	5,229
2026	4,688
2027	4,001
Thereafter	13,071
Total	37,292
Discount for present value of expected cash flows	(5,064)
Lease liability at March 31, 2023	$ 32,228	$ 29,004

XML

Deposits - Summary of Balances of Deposits (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Deposits [Abstract]
Noninterest-bearing demand	$ 3,236,696	$ 3,502,095
Interest-bearing demand	1,635,706	1,718,541
Savings	2,807,796	2,884,378
Time certificates, $250,000 or more	94,917	46,350
Other time certificates	250,750	177,649
Total deposits	$ 8,025,865	$ 8,329,013

XML

Deposits - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Deposits [Line Items]
Overdrawn deposit balances classified as consumer loans	$ 1.4	$ 1.8

XML

Subordinated Debentures - Summary of Terms and Recorded Balance of Subordinated Debenture (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Subordinated Borrowing [Line Items]
Recorded Book Value	$ 101,051	$ 101,040
Subordinated debt
Subordinated Borrowing [Line Items]
Face Value	98,889
TriCo Cap Trust I
Subordinated Borrowing [Line Items]
Recorded Book Value	20,619	20,619
TriCo Cap Trust I | Subordinated debt
Subordinated Borrowing [Line Items]
Face Value	$ 20,619
Current Coupon Rate	7.88%
TriCo Cap Trust II
Subordinated Borrowing [Line Items]
Recorded Book Value	$ 20,619	20,619
TriCo Cap Trust II | Subordinated debt
Subordinated Borrowing [Line Items]
Face Value	$ 20,619
Current Coupon Rate	7.36%
North Valley Trust II
Subordinated Borrowing [Line Items]
Recorded Book Value	$ 5,527	5,503
North Valley Trust II | Subordinated debt
Subordinated Borrowing [Line Items]
Face Value	$ 6,186
Current Coupon Rate	8.06%
North Valley Trust III
Subordinated Borrowing [Line Items]
Recorded Book Value	$ 4,404	4,383
North Valley Trust III | Subordinated debt
Subordinated Borrowing [Line Items]
Face Value	$ 5,155
Current Coupon Rate	7.61%
North Valley Trust IV
Subordinated Borrowing [Line Items]
Recorded Book Value	$ 7,446	7,393
North Valley Trust IV | Subordinated debt
Subordinated Borrowing [Line Items]
Face Value	$ 10,310
Current Coupon Rate	6.19%
VRB Subordinated - 6%
Subordinated Borrowing [Line Items]
Recorded Book Value	$ 17,140	17,187
VRB Subordinated - 6% | Subordinated debt
Subordinated Borrowing [Line Items]
Interest rate	6.00%
Face Value	$ 16,000
Current Coupon Rate	6.00%
VRB Subordinated - 5%
Subordinated Borrowing [Line Items]
Recorded Book Value	$ 25,296	$ 25,336
VRB Subordinated - 5% | Subordinated debt
Subordinated Borrowing [Line Items]
Interest rate	5.00%
Face Value	$ 20,000
Current Coupon Rate	5.00%
LIBOR PLUS | TriCo Cap Trust I | Subordinated debt
Subordinated Borrowing [Line Items]
Coupon Rate (Variable) 3 mo. LIBOR +	3.05%
LIBOR PLUS | TriCo Cap Trust II | Subordinated debt
Subordinated Borrowing [Line Items]
Coupon Rate (Variable) 3 mo. LIBOR +	2.55%
LIBOR PLUS | North Valley Trust II | Subordinated debt
Subordinated Borrowing [Line Items]
Coupon Rate (Variable) 3 mo. LIBOR +	3.25%
LIBOR PLUS | North Valley Trust III | Subordinated debt
Subordinated Borrowing [Line Items]
Coupon Rate (Variable) 3 mo. LIBOR +	2.80%
LIBOR PLUS | North Valley Trust IV | Subordinated debt
Subordinated Borrowing [Line Items]
Coupon Rate (Variable) 3 mo. LIBOR +	1.33%

XML

Subordinated Debentures - Additional Information (Detail) - Subordinated debt	3 Months Ended
	Mar. 31, 2023
VRB Subordinated - 6%
Class of Stock [Line Items]
Interest rate	6.00%
Current Coupon Rate	6.00%
VRB Subordinated - 6% | LIBOR PLUS
Class of Stock [Line Items]
Basis spread on variable rate	3.50%
VRB Subordinated - 5%
Class of Stock [Line Items]
Interest rate	5.00%
Current Coupon Rate	5.00%
VRB Subordinated - 5% | LIBOR PLUS
Class of Stock [Line Items]
Basis spread on variable rate	4.90%

XML

Commitments and Contingencies - Summary of Bank's Commitments and Contingent Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit
Real estate construction loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit	307,152	312,371
Real estate mortgage loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit	473,894	458,896
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit	24,070	26,599
Commercial loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit	726,505	656,705
Consumer loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit	751,193	760,588
Deposit account overdraft privilege
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit	$ 129,147	$ 126,634

XML

Shareholders' Equity - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Feb. 25, 2021
Class of Stock [Line Items]
Cash dividends received	$ 18,200,000	$ 7,800,000
Repurchase of common stock	7,595,000	56,000
Market value of shares repurchased under equity compensation plans	$ 621,000	$ 55,000
Employee Stock
Class of Stock [Line Items]
Company's common stock in lieu of cash to exercise options to purchase shares (in shares)	0	0
Other Share Based Awards
Class of Stock [Line Items]
Company's common stock in lieu of cash to exercise options to purchase shares (in shares)	12,381	0
2021 Stock Repurchase Plan
Class of Stock [Line Items]
Repurchase of common stock (in shares)			2,000,000
Stock repurchase program, percentage of common stock			6.70%
Repurchase of common stock (in shares)	150,000	0
Repurchase of common stock	$ 7,000,000	$ 0
Common Stock
Class of Stock [Line Items]
Repurchase of common stock (in shares)	162,381	1,332
Repurchase of common stock	$ 3,399,000	$ 24,000
Market value of shares repurchased under equity compensation plans	$ 620,000	$ 0

XML

Stock Options and Other Equity-Based Incentive Instruments - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Apr. 16, 2019
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Weighted-average remaining contractual term (in years)	2 years 1 month 6 days
Number of units released (in shares)	0
Number of units increased (in shares)	171,722
Restricted Stock Units (RSUs) | Service Condition Vesting RSUs
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of units outstanding expected to vest (in shares)	117,893	139,194
Pre-tax compensation costs	$ 3.1
Number of units released (in shares)	22,118
Restricted Stock Units (RSUs) | Market Plus Service Condition Vesting RSUs
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of units outstanding expected to vest (in shares)	114,481	114,481
Weighted-average remaining contractual term (in years)	2 years 1 month 6 days
Pre-tax compensation costs	$ 1.8
Number of units released (in shares)	0
2019 Plan
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate number of shares of TriCo's common stock issued (in shares)			1,500,000

XML

Stock Options and Other Equity-Based Incentive Instruments - Stock Option Activity (Detail)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding at beginning of period (in shares) | shares	15,500
Options granted (in shares) | shares	0
Options exercised (in shares) | shares	(4,000)
Options forfeited (in shares) | shares	0
Options outstanding at end of period (in shares) | shares	11,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted Average Exercise Price at beginning of period (in USD per share) | $ / shares	$ 21.27
Weighted Average Exercise Price of Options Granted (in USD per share) | $ / shares	0
Weighted Average Exercise Price of Options Exercised (in USD per share) | $ / shares	19.46
Weighted Average Exercise Price of Options Forfeited (in USD per share) | $ / shares	0
Weighted Average Exercise Price at end of period (in USD per share) | $ / shares	$ 21.90

XML

Stock Options and Other Equity-Based Incentive Instruments - Summary of Options Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in shares)	11,500	15,500
Weighted average exercise price (in USD per share)	$ 21.90	$ 21.27
Intrinsic value (in thousands)	$ 226
Weighted average remaining contractual term (in years)	1 year
Currently Exercisable
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in shares)	11,500
Weighted average exercise price (in USD per share)	$ 21.90
Intrinsic value (in thousands)	$ 226
Weighted average remaining contractual term (in years)	1 year
Currently Not Exercisable
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in shares)	0
Weighted average exercise price (in USD per share)	$ 0
Intrinsic value (in thousands)	$ 0
Weighted average remaining contractual term (in years)	0 years

XML

Stock Options and Other Equity-Based Incentive Instruments - Restricted Stock Unit (RSU) Activity (Detail)	3 Months Ended
	Mar. 31, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
RSUs released (in shares)	0
Restricted Stock Units (RSUs) | Service Condition Vesting RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of period (in shares)	139,194
RSUs granted (in shares)	0
RSUs added through dividend and performance credits (in shares)	817
RSUs released (in shares)	(22,118)
RSUs forfeited/expired (in shares)	0
Outstanding at end of period (in shares)	117,893
Restricted Stock Units (RSUs) | Market Plus Service Condition Vesting RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of period (in shares)	114,481
RSUs granted (in shares)	0
RSUs added through dividend and performance credits (in shares)	0
RSUs released (in shares)	0
RSUs forfeited/expired (in shares)	0
Outstanding at end of period (in shares)	114,481

XML

Non-interest Income and Expense - Components of Non-Interest Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Schedule Of Other Noninterest Income And Expense [Line Items]
Total service charges and fees	$ 11,197	$ 11,696
Increase in cash value of life insurance	802	638
Asset management and commission income	934	887
Gain on sale of loans	206	1,246
Lease brokerage income	98	158
Sale of customer checks	288	104
Loss on sale of investment securities	(164)	0
Gain (loss) on marketable equity securities	42	(137)
Other	232	504
Total other non-interest income	2,438	3,400
Total non-interest income	13,635	15,096
ATM and interchange fees
Schedule Of Other Noninterest Income And Expense [Line Items]
Total service charges and fees	6,344	6,243
Service charges on deposit accounts
Schedule Of Other Noninterest Income And Expense [Line Items]
Total service charges and fees	3,431	3,834
Other service fees
Schedule Of Other Noninterest Income And Expense [Line Items]
Total service charges and fees	1,166	882
Mortgage banking service fees
Schedule Of Other Noninterest Income And Expense [Line Items]
Total service charges and fees	465	463
Change in value of mortgage servicing rights
Schedule Of Other Noninterest Income And Expense [Line Items]
Total service charges and fees	$ (209)	$ 274

XML

Non-interest Income and Expense - Components of Non Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other Income and Expenses [Abstract]
Base salaries, net of deferred loan origination costs	$ 23,000	$ 18,216
Incentive compensation	2,895	2,583
Benefits and other compensation costs	6,668	5,972
Total salaries and benefits expense	32,563	26,771
Occupancy	4,160	3,575
Data processing and software	4,032	3,513
Equipment	1,383	1,333
Intangible amortization	1,656	1,228
Advertising	759	637
ATM and POS network charges	1,709	1,375
Professional fees	1,589	876
Telecommunications	595	521
Regulatory assessments and insurance	792	720
Merger and acquisition expense	0	4,032
Postage	299	228
Operational (gain) losses	435	(183)
Courier service	339	414
Gain on disposal of fixed assets	0	(1,078)
Other miscellaneous expense	3,483	2,485
Total other non-interest expense	21,231	19,676
Total non-interest expense	$ 53,794	$ 46,447

XML

Earnings Per Share - Computation of Earnings Per Share (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net income	$ 35,833	$ 20,374
Average number of common shares outstanding (in shares)	33,296	30,050
Effect of dilutive stock options and restricted stock (in shares)	142	152
Average number of common shares outstanding used to calculate diluted earnings per share (in shares)	33,438	30,202
Options excluded from diluted earnings per share because of their antidilutive effect (in shares)	0	0

XML

Comprehensive Income (Loss) - Components of Other Comprehensive Income (Loss) and Related Tax Effects (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss)	$ 24,444	$ (78,339)
Unrealized holding gains (losses) on available for sale securities before reclassifications
Accumulated Other Comprehensive Income (Loss) [Line Items]
OCI, before reclassifications, before tax	34,540	(111,302)
Reclassifications, before tax	164	0
OCI, after reclassifications, before tax	34,704	(111,302)
Tax effect	(10,260)	32,905
Other comprehensive income (loss)	24,444	(78,397)
Unfunded status of the supplemental retirement plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
OCI, before reclassifications, before tax	114	63
Reclassifications, before tax	(114)	(5)
OCI, after reclassifications, before tax	0	58
Tax effect	0	0
Other comprehensive income (loss)	0	58
Amortization of prior service cost
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassifications, before tax	0	(7)
Amortization of actuarial losses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassifications, before tax	(114)	2
Joint beneficiary agreement liability
Accumulated Other Comprehensive Income (Loss) [Line Items]
OCI, before reclassifications, before tax	0	0
Tax effect	0	0
OCI, before reclassifications, net of tax	$ 0	$ 0

XML

Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, net of tax	$ (169,461)	$ (193,905)
Net unrealized gain on available for sale securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, before tax	(255,845)	(290,549)
Accumulated other comprehensive income, tax effect	75,637	85,897
Accumulated other comprehensive income, net of tax	(180,208)	(204,652)
Unfunded status of the supplemental retirement plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, before tax	13,901	13,901
Accumulated other comprehensive income, tax effect	(4,110)	(4,110)
Accumulated other comprehensive income, net of tax	9,791	9,791
Joint beneficiary agreement liability
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, before tax	956	956
Accumulated other comprehensive income, tax effect	0	0
Accumulated other comprehensive income, net of tax	$ 956	$ 956

XML

Fair Value Measurement - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023 USD ($) investmentSecurity
Fair Value Disclosures [Abstract]
Number of investment securities classified as level 3 (in investment securities) | investmentSecurity	0
Carrying value of loans fully charged-off | $	$ 0

XML

Fair Value Measurement - Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value Measurements on Recurring Basis - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 2,415,231	$ 2,463,594
Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	2,640	2,598
Obligations of U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	1,357,435	1,372,769
Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	279,900	293,205
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	5,738	5,751
Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	427,364	439,767
Non-agency mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	335,375	340,946
Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	226	1,846
Mortgage servicing rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	6,553	6,712
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	2,640	2,598
Level 1 | Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	2,640	2,598
Level 1 | Obligations of U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 1 | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 1 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 1 | Non-agency mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value
Level 1 | Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 1 | Mortgage servicing rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	2,406,038	2,454,284
Level 2 | Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 2 | Obligations of U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	1,357,435	1,372,769
Level 2 | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	279,900	293,205
Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	5,738	5,751
Level 2 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	427,364	439,767
Level 2 | Non-agency mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	335,375	340,946
Level 2 | Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	226	1,846
Level 2 | Mortgage servicing rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	6,553	6,712
Level 3 | Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 3 | Obligations of U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 3 | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 3 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 3 | Non-agency mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value
Level 3 | Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0
Level 3 | Mortgage servicing rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 6,553	$ 6,712

XML

Fair Value Measurement - Reconciliation of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) on Recurring Basis (Detail) - Mortgage servicing rights - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 6,712	$ 5,874
Transfers into (out of) Level 3		0
Change Included in Earnings	(209)	274
Issuances	50	257
Ending Balance	$ 6,553	$ 6,405

XML

Fair Value Measurement - Quantitative Information about Recurring Level 3 Fair Value Measurements (Detail) - Mortgage servicing rights $ in Thousands	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgages servicing rights, fair value	$ 6,553	$ 6,712
Minimum | Valuation Technique, Discounted Cash Flow | Measurement Input, Constant Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	1.21	1.16
Minimum | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.10	0.10
Maximum | Valuation Technique, Discounted Cash Flow | Measurement Input, Constant Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	2.16	2.26
Maximum | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.14	0.14
Weighted Average | Valuation Technique, Discounted Cash Flow | Measurement Input, Constant Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	1.300	1.270
Weighted Average | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.12	0.12

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Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Losses from Fair Value Adjustments Assets and Liabilities	$ (277)	$ (909)
Individually evaluated loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	1,223		$ 5,719
Fair Value Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			6,030
Fair Value Nonrecurring Basis | Individually evaluated loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	1,223		5,719
Losses from Fair Value Adjustments Assets and Liabilities	(277)
Fair Value Nonrecurring Basis | Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			311
Losses from Fair Value Adjustments Assets and Liabilities	0
Fair Value Nonrecurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			0
Fair Value Nonrecurring Basis | Level 1 | Individually evaluated loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0		0
Losses from Fair Value Adjustments Assets and Liabilities		(615)
Fair Value Nonrecurring Basis | Level 1 | Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			0
Losses from Fair Value Adjustments Assets and Liabilities		$ (294)
Fair Value Nonrecurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			0
Fair Value Nonrecurring Basis | Level 2 | Individually evaluated loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0		0
Fair Value Nonrecurring Basis | Level 2 | Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			0
Fair Value Nonrecurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			6,030
Fair Value Nonrecurring Basis | Level 3 | Individually evaluated loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 1,223		5,719
Fair Value Nonrecurring Basis | Level 3 | Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			$ 311

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Fair Value Measurement - Quantitative Information about (Level 3) Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Individually evaluated loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 1,223	$ 5,719
Foreclosed assets (Residential real estate)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		$ 311

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Fair Value Measurement - Estimated Fair Values of Financial Instruments that are Reported at Amortized Cost in Consolidated Balance Sheets (Detail) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Financial assets:
Cash and due from banks	$ 77,933,000	$ 96,323,000
Cash at Federal Reserve and other banks	32,402,000	10,907,000
Securities held to maturity	152,067,000	160,983,000
Restricted equity securities	0	0
Financial liabilities:
Other borrowings	434,140,000	264,605,000
Junior subordinated debt	101,051,000	101,040,000
Level 3 | Overdraft Privilege Commitments
Off-balance sheet:
Contract Amount	129,147,000	126,634,000
Level 3 | Standby letters of credit
Off-balance sheet:
Contract Amount	24,070,000	26,599,000
Level 3 | Commitments
Off-balance sheet:
Contract Amount	2,258,744,000	2,188,560,000
Carrying Amount | Level 1
Financial assets:
Cash and due from banks	77,933,000	96,323,000
Cash at Federal Reserve and other banks	32,402,000	10,907,000
Carrying Amount | Level 2
Financial assets:
Securities held to maturity	152,067,000	160,983,000
Restricted equity securities	17,250,000	17,250,000
Financial liabilities:
Deposits	8,025,865,000	8,329,013,000
Other borrowings	434,140,000	264,605,000
Carrying Amount | Level 3
Financial assets:
Loans, net	6,314,014,000	6,344,767,000
Financial liabilities:
Junior subordinated debt	101,051,000	101,040,000
Fair Value | Level 1
Financial assets:
Cash and due from banks	77,933,000	96,323,000
Cash at Federal Reserve and other banks	32,402,000	10,907,000
Fair Value | Level 2
Financial assets:
Securities held to maturity	142,135,000	149,938,000
Financial liabilities:
Deposits	8,018,642,000	8,321,517,000
Other borrowings	434,140,000	264,605,000
Fair Value | Level 3
Financial assets:
Loans, net	6,073,450,000	6,153,155,000
Financial liabilities:
Junior subordinated debt	94,442,000	92,613,000
Fair Value | Level 3 | Overdraft Privilege Commitments
Off-balance sheet:
Fair Value	1,291,000	1,266,000
Fair Value | Level 3 | Standby letters of credit
Off-balance sheet:
Fair Value	241,000	266,000
Fair Value | Level 3 | Commitments
Off-balance sheet:
Fair Value	$ 22,587,000	$ 21,886,000

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Regulatory Matters - Actual and Required Capital Ratios of Bank (Detail) $ in Thousands	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Consolidated
Schedule of Capitalization [Line Items]
Total Capital (to Risk Weighted Assets)	$ 1,134,613	$ 1,115,257
Tier 1 Capital (to Risk Weighted Assets)	994,155	974,325
Common Equity Tier 1 Capital (to Risk Weighted Assets)	937,300	917,565
Tier 1 Capital (to Average Assets)	$ 994,155	$ 974,325
Total Capital Ratio (to Risk Weighted Assets)	0.1450	0.1419
Tier 1 Capital Ratio (to Risk Weighted Assets)	0.1270	0.1240
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets)	0.1198	0.1167
Tier 1 Capital Ratio (to Average Assets)	0.1020	0.1014
Consolidated | Basel III Fully Phased In
Schedule of Capitalization [Line Items]
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement	$ 821,668	$ 825,234
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement	665,160	668,047
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement	547,779	550,156
Tier 1 Capital (to Average Assets), Minimum Capital Requirement	$ 393,017	$ 384,337
Total Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement	0.1050	0.1050
Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement	0.0850	0.0850
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement	7.00%	7.00%
Tier 1 Capital Ratio (to Average Assets), Minimum Capital Requirement	0.0400	0.0400
Tri Counties Bank
Schedule of Capitalization [Line Items]
Total Capital (to Risk Weighted Assets)	$ 1,127,852	$ 1,107,941
Tier 1 Capital (to Risk Weighted Assets)	1,029,875	1,009,577
Common Equity Tier 1 Capital (to Risk Weighted Assets)	1,029,875	1,009,577
Tier 1 Capital (to Average Assets)	$ 1,029,875	$ 1,009,577
Total Capital Ratio (to Risk Weighted Assets)	0.1442	0.1410
Tier 1 Capital Ratio (to Risk Weighted Assets)	0.1316	0.1285
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets)	0.1316	0.1285
Tier 1 Capital Ratio (to Average Assets)	0.1057	0.1051
Total Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 782,352	$ 785,751
Capital Required to be Well Capitalized to Risk Weighted Assets	0.1000	0.1000
Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 625,882	$ 628,601
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.0800	0.0800
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 508,529	$ 510,738
Common Equity Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	6.50%	6.50%
Tier 1 Capital (to Average Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 491,091	$ 480,183
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.0500	0.0500
Tri Counties Bank | Basel III Fully Phased In
Schedule of Capitalization [Line Items]
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement	$ 821,470	$ 825,039
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement	665,000	667,888
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement	547,647	550,026
Tier 1 Capital (to Average Assets), Minimum Capital Requirement	$ 392,873	$ 384,146
Total Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement	0.1050	0.1050
Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement	0.0850	0.0850
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement	7.00%	7.00%
Tier 1 Capital Ratio (to Average Assets), Minimum Capital Requirement	0.0400	0.0400