TriCo Bancshares Financial Statements

12 Months Ended

Dec. 31, 2011

TriCo Bancshares Financial Statements [Abstract]

TriCo Bancshares Financial Statements

Note 28 – TriCo Bancshares Financial Statements

TriCo Bancshares (Parent Only) Balance Sheets

	December 31,
	2011		2010
	(in thousands)
Assets
Cash and Cash equivalents	$	706	$	633
Investment in Tri Counties Bank		256,010		240,027
Other assets		1,238		1,238
Total assets	$	257,954	$	241,898
Liabilities and shareholders’ equity
Other liabilities	$	275	$	263
Junior subordinated debt		41,238		41,238
Total liabilities		41,513		41,501
Shareholders’ equity:
Common stock, no par value: authorized 50,000,000 shares; issued and outstanding 15,978,958 and 15,860,138 shares, respectively		84,079		81,554
Retained earnings		128,551		117,533
Accumulated other comprehensive loss, net		3,811		1,310
Total shareholders’ equity		216,441		200,397
Total liabilities and shareholders’ equity	$	257,954	$	241,898

Statements of Income

	Years ended December 31,
	2011			2010			2009
	(in thousands)
Interest expense	$	(1,259	)	$	(1,274	)	$	(1,503	)
Administration expense		(582	)		(643	)		(622	)
Loss before equity in net income of Tri Counties Bank		(1,841	)		(1,917	)		(2,125	)
Equity in net income of Tri Counties Bank:
Distributed		7,185			7,650			9,060
(Over) under distributed		12,470			(534	)		2,137
Income tax benefit		776			806			890
Net income	$	18,590		$	6,005		$	9,962
Statements of Cash Flows
	Years ended December 31,
	2011			2010			2009
	(in thousands)
Operating activities:
Net income	$	18,590		$	6,005		$	9,962
Adjustments to reconcile net income to net cash provided by operating activities:
Over (under) distributed equity in earnings of Tri Counties Bank		(12,470	)		534			(2,137	)
Stock option vesting expense		830			800			477
Stock option excess tax benefits		(296	)		(390	)		(30	)
Net change in other assets and liabilities		(818	)		(802	)		(824	)
Net cash provided by operating activities		5,836			6,147			7,448
Investing activities: None
Financing activities:
Issuance of common stock through option exercise		436			203			235
Stock option excess tax benefits		296			390			30
Repurchase of common stock		(753	)		(338	)		—
Cash dividends paid — common		(5,742	)		(6,344	)		(8,209	)
Net cash used for financing activities		(5,763	)		(6,089	)		(7,944	)
Increase (decrease) in cash and cash equivalents		73			58			(496	)
Cash and cash equivalents at beginning of year		633			575			1,071
Cash and cash equivalents at end of year	$	706		$	633		$	575