TriCo Bancshares Condensed Financial Statements (Parent Only)

3 Months Ended

Mar. 31, 2013

TriCo Bancshares Condensed Financial Statements (Parent Only) [Abstract]

TriCo Bancshares Condensed Financial Statements (Parent Only)

Note 28—TriCo Bancshares Condensed Financial Statements (Parent Only)

Condensed Balance Sheets	March 31, 2013			December 31, 2012
	(In thousands)
Assets
Cash and Cash equivalents	$	2,497		$	2,511
Investment in Tri Counties Bank		273,794			267,118
Other assets		1,238			1,238
Total assets	$	277,529		$	270,867
Liabilities and shareholders’ equity
Other liabilities	$	261		$	270
Junior subordinated debt		41,238			41,238
Total liabilities		41,499			41,508
Shareholders’ equity:
Common stock, no par value: authorized 50,000,000 shares; issued and outstanding 16,005,191 and 16,000,838 shares, respectively		85,995			85,561
Retained earnings		148,497			141,639
Accumulated other comprehensive loss, net		1,538			2,159
Total shareholders’ equity		236,030			229,359
Total liabilities and shareholders’ equity	$	277,529		$	270,867
Condensed Statements of Income	Three months ended March 31,
	2013			2012
	(In thousands)
Interest expense	$	311		$	338
Administration expense		145			131
Loss before equity in net income of Tri Counties Bank		(456	)		(469	)
Equity in net income of Tri Counties Bank:
Distributed		1,700			1,625
Under distributed		7,041			2,583
Income tax benefit		192			192
Net income	$	8,477		$	3,931
Condensed Statements of Comprehensive Income	Three months ended March 31,
	2013			2012
	(In thousands)
Net income	$	8,477		$	3,931
Other comprehensive loss, net of tax:
Decrease in unrealized gains on available-for-sale securities arising during the period		(621	)		(153	)
Other comprehensive loss		(621	)		(153	)
Comprehensive income	$	7,856		$	3,778
Condensed Statements of Cash Flows	Three months ended March 31,
	2013			2012
	(In thousands)
Operating activities:
Net income	$	8,477		$	3,931
Adjustments to reconcile net income to net cash provided by operating activities:
Under distributed equity in earnings of Tri Counties Bank		(7,041	)		(2,583	)
Stock option vesting expense		236			257
Stock option excess tax benefits		(20	)		—
Net change in other assets and liabilities		(245	)		(246	)
Net cash provided by operating activities		1,407			1,359
Investing activities: None
Financing activities:
Stock option excess tax benefits		20			—
Cash dividends paid — common		(1,441	)		(1,438	)
Net cash used for financing activities		(1,421	)		(1,438	)
Net change in cash and cash equivalents		(14	)		(79	)
Cash and cash equivalents at beginning of year		2,511			706
Cash and cash equivalents at end of year	$	2,497		$	627