TriCo Bancshares Condensed Financial Statements (Parent Only) (Tables)
|
9 Months Ended |
Sep. 30, 2014
|
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
Condensed Balance Sheets |
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 |
|
|
Condensed Statements of Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Statements of Comprehensive Income |
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 |
|
|
Condensed Statements of Cash Flows |
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|