TriCo Bancshares Condensed Financial Statements (Parent Only)

3 Months Ended

Mar. 31, 2015

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

	March 31, 2015			December 31, 2014
	(In thousands)
Assets
Cash and Cash equivalents	$	2,044		$	2,229
Investment in Tri Counties Bank		477,845			470,797
Other assets		1,738			1,902
Total assets	$	481,627		$	474,928
Liabilities and shareholders’ equity
Other liabilities	$	474		$	484
Junior subordinated debt		56,320			56,272
Total liabilities		56,794			56,756
Shareholders’ equity:
Common stock, no par value: authorized 50,000,000 shares; issued and outstanding 22,740,503 and 22,714,964 shares, respectively		245,316			244,318
Retained earnings		181,600			176,057
Accumulated other comprehensive loss, net		(2,083	)		(2,203	)
Total shareholders’ equity		424,833			418,172
Total liabilities and shareholders’ equity	$	481,627		$	474,928
Condensed Statements of Income
	Three months ended March 31,
	2015			2014
	(In thousands)
Interest expense	$	482		$	304
Administration expense		153			324
Loss before equity in net income of Tri Counties Bank		(635	)		(628	)
Equity in net income of Tri Counties Bank:
Distributed		2,120			2,050
Under distributed		6,584			5,679
Income tax benefit		267			264
Net income	$	8,336		$	7,365
Condensed Statements of Comprehensive Income
	Three months ended March 31,
	2015			2014
	(In thousands)
Net income	$	8,336		$	7,365
Other comprehensive loss, net of tax:
Increase (decrease) in unrealized gains on available for sale securities arising during the period		9			(60	)
Change in minimum pension liability		111			5
Other comprehensive loss		120			(55	)
Comprehensive income	$	8,456		$	7,310
Condensed Statements of Cash Flows
	Three months ended March 31,
	2015			2014
	(In thousands)
Operating activities:
Net income	$	8,336		$	7,365
Adjustments to reconcile net income to net cash provided by operating activities:
Under distributed equity in earnings of Tri Counties Bank		(6,584	)		(5,679	)
Equity compensation vesting expense		324			296
Stock option excess tax benefits		(18	)		(184	)
Net change in other assets and liabilities		(124	)		(360	)
Net cash provided by operating activities		1,934			1,438
Investing activities: None
Financing activities:
Stock option excess tax benefits		18			184
Issuance of common stock through option exercise		405			306
Repurchase of common stock		(27	)		(293	)
Cash dividends paid — common		(2,515	)		(1,772	)
Net cash used for financing activities		(2,119	)		(1,575	)
Net change in cash and cash equivalents		(185	)		(137	)
Cash and cash equivalents at beginning of year		2,229			2,520
Cash and cash equivalents at end of year	$	2,044		$	2,383