Summary of Quarterly Results of Operations (unaudited)

9 Months Ended

Sep. 30, 2012

Summary of Quarterly Results of Operations (unaudited) [Abstract]

Summary of Quarterly Results of Operations (unaudited)

Note 30 – Summary of Quarterly Results of Operations (unaudited)

The following table sets forth the results of operations for the quarters of 2012 and 2011, and is unaudited; however, in the opinion of Management, it reflects all adjustments (which include only normal recurring adjustments) necessary to present fairly the summarized results for such periods.

	2012 Quarters Ended
	September 30,		June 30,		March 31,
	(In thousands, except per share data)
Interest and dividend income:
Loans:
Discount accretion PCI – cash basis	$	24	$	108	$	18
Discount accretion PCI – other		1,192		886		776
Discount accretion PNCI		591		1,391		1,286
Regular interest Purchased loans		3,251		3,439		3,420
All other loan interest income		20,472		19,968		19,429
Total loan interest income		25,530		25,792		24,929
Debt securities, dividends and interest bearing cash at Banks (not FTE)		1,935		2,152		2,235
Total interest income		27,465		27,944		27,164
Interest expense		1,834		2,010		2,128
Net interest income		25,631		25,934		25,036
Provision for loan losses		532		3,371		3,996
Net interest income after provision for loan losses		25,099		22,563		21,040
Noninterest income		9,127		10,577		8,265
Noninterest expense		25,590		24,367		22,915
Income before income taxes		8,636		8,773		6,390
Income tax expense		3,616		3,452		2,459
Net income	$	5,020	$	5,321	$	3,931
Per common share:
Net income (diluted)	$	0.31	$	0.33	$	0.25
Dividends	$	0.09	$	0.09	$	0.09

	2011 Quarters Ended
	December 31,		September 30,		June 30,		March 31,
	(In thousands, except per share data)
Interest and dividend income:
Loans:
Discount accretion PCI – cash basis	$	418	$	28		—		—
Discount accretion PCI – other		949		223	$	185	$	136
Discount accretion PNCI		1,738		—		—		—
Regular interest Purchased loans		3,651		978		872		835
All other loan interest income		20,491		20,758		20,678		20,751
Total loan interest income		27,247		21,987		21,735		21,722
Debt securities, dividends and interest bearing cash at Banks (not FTE)		2,362		2,485		2,732		2,712
Total interest income		29,609		24,472		24,467		24,434
Interest expense		2,329		2,465		2,714		2,730
Net interest income		27,280		22,007		21,753		21,704
Provision for loan losses		5,429		5,069		5,561		7,001
Net interest income after provision for loan losses		21,851		16,938		16,192		14,703
Noninterest income		10,489		14,723		8,251		9,350
Noninterest expense		22,076		20,873		20,095		19,671
Income before income taxes		10,264		10,788		4,348		4,382
Income tax expense		3,715		4,318		1,577		1,582
Net income	$	6,549	$	6,470	$	2,771	$	2,800
Per common share:
Net income (diluted)	$	0.41	$	0.40	$	0.17	$	0.18
Dividends	$	0.09	$	0.09	$	0.09	$	0.09

TRICO BANCSHARES

Financial Summary

(dollars in thousands, except per share amounts; unaudited)

	Three months ended September 30,						Nine months ended September 30,
	2012			2011			2012			2011
Net Interest Income	$	25,631		$	22,007		$	76,601		$	65,464
Provision for loan losses		(532	)		(5,069	)		(7,899	)		(17,631	)
Noninterest income		9,127			14,723			27,969			32,324
Noninterest expense		(25,590	)		(20,873	)		(72,872	)		(60,639	)
(Provision) benefit for income taxes		(3,616	)		(4,318	)		(9,527	)		(7,477	)
Net income	$	5,020		$	6,470		$	14,272		$	12,041
Earnings per share:
Basic	$	0.31		$	0.40		$	0.89		$	0.76
Diluted	$	0.31		$	0.40		$	0.89		$	0.75
Per share:
Dividends paid	$	0.09		$	0.09		$	0.27		$	0.27
Book value at period end	$	14.21		$	13.19
Average common shares outstanding		15,993			15,979			15,989			15,920
Average diluted common shares outstanding		16,052			16,006			16,050			15,995
Shares outstanding at period end		15,993			15,979
At period end:
Loans, net	$	1,531,501		$	1,530,327
Total assets		2,515,481			2,488,467
Total deposits		2,201,639			2,120,223
Other borrowings		9,264			82,919
Junior subordinated debt		41,238			41,238
Shareholders’ equity	$	227,197		$	210,824
Financial Ratios:
During the period (annualized):
Return on assets		0.80	%		1.17	%		0.76	%		0.73	%
Return on equity		8.85	%		12.41	%		8.52	%		7.79	%
Net interest margin 1		4.37	%		4.34	%		4.38	%		4.31	%
Efficiency ratio 1		73.5	%		56.7	%		69.6	%		61.9	%
Average equity to average assets		9.00	%		9.45	%		8.89	%		9.38	%
At period end:
Equity to assets		9.03	%		8.47	%
Total capital to risk-adjusted assets		14.36	%		13.47	%

¹  Fully taxable equivalent (FTE)