TriCo Bancshares Condensed Financial Statements (Parent Only)

9 Months Ended

Sep. 30, 2014

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	September 30, 2014		December 31, 2013
	(In thousands)
Assets
Cash and Cash equivalents	$	2,022	$	2,520
Investment in Tri Counties Bank		305,543		288,746
Other assets		1,465		1,280
Total assets	$	309,030	$	292,546
Liabilities and shareholders’ equity
Other liabilities		412		362
Junior subordinated debt		41,238		41,238
Total liabilities		41,650		41,600
Shareholders’ equity:
Common stock, no par value: authorized 50,000,000 shares; issued and outstanding 16,139,414 and 16,076,662 shares, respectively		92,692		89,356
Retained earnings		172,892		159,733
Accumulated other comprehensive income, net		1,796		1,857
Total shareholders’ equity		267,380		250,946
Total liabilities and shareholders’ equity	$	309,030	$	292,546

	Three months ended						Nine months ended
Statements of Income	September 30,						September 30,
(In thousands)	2014			2013			2014			2013
Interest expense	$	310		$	314		$	920		$	936
Administration expense		722			191			1,512			568
Loss before equity in net income of Tri Counties Bank		(1,032	)		(505	)		(2,432	)		(1,504	)
Equity in net income of Tri Counties Bank:
Distributed		2,295			2,300			6,395			6,080
(Over) under distributed		6,744			5,354			15,823			16,955
Income tax benefit		227			212			672			632
Net income	$	8,234		$	7,361		$	20,458		$	22,163
Statements of Comprehensive Income	Three months ended September 30,						Nine months ended September 30,
(In thousands)	2014			2013			2014			2013
Net income	$	8,234		$	7,361		$	20,458		$	22,163
Other comprehensive income (loss), net of tax:
Unrealized holding gains (losses) on available for sale securities arising during the period		(398	)		83			(77	)		(2,027	)
Change in minimum pension liability		6			—			16			—
Other comprehensive income (loss)		(392	)		83			(61	)		(2,027	)
Comprehensive income	$	7,842		$	7,444		$	20,397		$	20,136

Statements of Cash Flows	Nine months ended September 30,
(In thousands)	2014			2013
Operating activities:
Net income		20,458			22,163
Adjustments to reconcile net income to net cash provided by operating activities:
Over (under) distributed equity in earnings of Tri Counties Bank		(15,823	)		(16,955	)
Stock option vesting expense		810			849
Stock option excess tax benefits		(225	)		(356	)
Net change in other assets and liabilities		(945	)		(853	)
Net cash provided by operating activities		4,275			4,848
Investing activities: None
Financing activities:
Issuance of common stock through option exercise		616			251
Stock option excess tax benefits		225			356
Repurchase of common stock		(292	)		(501	)
Cash dividends paid — common		(5,322	)		(4,976	)
Net cash used for financing activities		(4,773	)		(4,870	)
(Decrease) increase in cash and cash equivalents		(498	)		(22	)
Cash and cash equivalents at beginning of year		2,520			2,511
Cash and cash equivalents at end of year	$	2,022		$	2,489