TriCo Bancshares Condensed Financial Statements (Parent Only) (Tables)

9 Months Ended

Sep. 30, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheets

Condensed Balance Sheets	September 30, 2015			December 31, 2014
	(In thousands)
Assets
Cash and Cash equivalents	$	2,168		$	2,229
Investment in Tri Counties Bank		496,336			470,797
Other assets		1,746			1,902
Total assets	$	500,250		$	474,928
Liabilities and shareholders’ equity
Other liabilities	$	485		$	484
Junior subordinated debt		56,420			56,272
Total liabilities		56,905			56,756
Shareholders’ equity:
Common stock, no par value: authorized 50,000,000 shares; issued and outstanding 22,764,295 and 22,714,964 shares, respectively		246,312			244,318
Retained earnings		199,331			176,057
Accumulated other comprehensive loss, net		(2,298	)		(2,203	)
Total shareholders’ equity		443,345			418,172
Total liabilities and shareholders’ equity	$	500,250		$	474,928

Statements of Income

Statements of Income	Three months ended September 30,						Nine months ended September 30,
(In thousands)	2015			2014			2015			2014
Interest expense	$	499		$	310		$	1,472		$	920
Administration expense		203			722			619			1,512
Loss before equity in net income of Tri Counties Bank		(702	)		(1,032	)		(2,091	)		(2,432	)
Equity in net income of Tri Counties Bank:
Distributed		3,255			2,295			8,968			6,395
(Over) under distributed		9,846			6,744			24,640			15,823
Income tax benefit		295			227			879			672
Net income	$	12,694		$	8,234		$	32,396		$	20,458

Statements of Comprehensive Income

Statements of Comprehensive Income	Three months ended September 30,					Nine months ended September 30,
(In thousands)	2015		2014			2015			2014
Net income	$	12,694	$	8,234		$	32,396		$	20,458
Other comprehensive income (loss), net of tax:
Unrealized holding gains (losses) on available for sale securities arising during the period		2,316		(398	)		(429	)		(77	)
Change in minimum pension liability		112		6			334			16
Other comprehensive income (loss)		2,428		(392	)		(95	)		(61	)
Comprehensive income	$	15,122	$	7,842		$	32,301		$	20,397

Statements of Cash Flows

Statements of Cash Flows	Nine months ended September 30,
(In thousands)	2015			2014
Operating activities:
Net income	$	32,396		$	20,458
Adjustments to reconcile net income to net cash provided by operating activities:
Over (under) distributed equity in earnings of Tri Counties Bank		(24,640	)		(15,823	)
Equity compensation vesting expense		1,051			810
Equity compensation tax effects		57			(225	)
Net change in other assets and liabilities		(746	)		(945	)
Net cash provided by operating activities		8,118			4,275
Investing activities: None
Financing activities:
Issuance of common stock through option exercise		660			616
Equity compensation tax effects		(57	)		225
Repurchase of common stock		(54	)		(292	)
Cash dividends paid — common		(8,728	)		(5,322	)
Net cash used for financing activities		(8,179	)		(4,773	)
(Decrease) increase in cash and cash equivalents		(61	)		(498	)
Cash and cash equivalents at beginning of year		2,229			2,520
Cash and cash equivalents at end of year	$	2,168		$	2,022