TriCo Bancshares Condensed Financial Statements (Parent Only)

12 Months Ended

Dec. 31, 2013

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

TriCo Bancshares Condensed Financial Statements (Parent Only)

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

Condensed Balance Sheets

	December 31,
	2013		2012
Assets	(in thousands)
Cash and Cash equivalents	$	2,520	$	2,511
Investment in Tri Counties Bank		288,746		267,118
Other assets		1,280		1,238
Total assets	$	292,546	$	270,867
Liabilities and shareholders’ equity
Other liabilities	$	362	$	270
Junior subordinated debt		41,238		41,238
Total liabilities		41,600		41,508
Shareholders’ equity:
Common stock, no par value: authorized 50,000,000 shares; issued and outstanding 16,076,662 and 16,000,838 shares, respectively		89,356		85,561
Retained earnings		159,733		141,639
Accumulated other comprehensive loss, net		1,857		2,159
Total shareholders’ equity		250,946		229,359
Total liabilities and shareholders’ equity	$	292,546	$	270,867

Condensed Statements of Income

	Years ended December 31,
	2013			2012			2011
	(in thousands)
Interest expense	$	(1,247	)	$	(1,325	)	$	(1,259	)
Administration expense		(862	)		(669	)		(582	)
Loss before equity in net income of Tri Counties Bank		(2,109	)		(1,994	)		(1,841	)
Equity in net income of Tri Counties Bank:
Distributed		8,175			8,522			7,185
Undistributed		20,446			11,632			12,470
Income tax benefit		887			834			776
Net income	$	27,399		$	18,994		$	18,590

Condensed Statements of Comprehensive Income

	Years ended December 31,
	2013			2012			2011
	(in thousands)
Net income	$	27,399		$	18,994		$	18,590
Other comprehensive (loss) income, net of tax:
Unrealized holding (losses) gains on securities arising during the period		(2,452	)		(1,216	)		1,504
Change in minimum pension liability		1,750			(2	)		1,140
Change in joint beneficiary agreement liability		400			(434	)		(143	)
Other comprehensive (loss) income		(302	)		(1,652	)		2,501
Net income	$	27,097		$	17,342		$	21,091

Condensed Statements of Cash Flows

	Years ended December 31,
	2013			2012			2011
Operating activities:	(in thousands)
Net income	$	27,399		$	18,994		$	18,590
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed equity in earnings of Tri Counties Bank		(20,446	)		(11,632	)		(12,470	)
Stock option vesting expense		1,151			1,083			830
Stock option excess tax benefits		(356	)		(44	)		(296	)
Net change in other assets and liabilities		(1,100	)		(1,089	)		(818	)
Net cash provided by operating activities		6,648			7,312			5,836
Investing activities: None
Financing activities:
Issuance of common stock through option exercise		251			206			436
Stock option excess tax benefits		356			44			296
Repurchase of common stock		(501	)		—			(753	)
Cash dividends paid — common		(6,745	)		(5,757	)		(5,742	)
Net cash used for financing activities		(6,639	)		(5,507	)		(5,763	)
Increase in cash and cash equivalents		9			1,805			73
Cash and cash equivalents at beginning of year		2,511			706			633
Cash and cash equivalents at end of year	$	2,520		$	2,511		$	706