TriCo Bancshares Condensed Financial Statements (Parent Only) (Tables)
|
12 Months Ended |
Dec. 31, 2015 |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
Condensed Balance Sheets |
Condensed Balance Sheets |
|
December 31, |
|
|
|
2015 |
|
|
2014 |
|
|
|
(in thousands) |
|
Assets
|
|
|
|
|
|
|
|
|
Cash and Cash equivalents
|
|
$ |
2,565 |
|
|
$ |
2,229 |
|
Investment in Tri Counties Bank
|
|
|
504,655 |
|
|
|
470,797 |
|
Other assets
|
|
|
1,714 |
|
|
|
1,902 |
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
508,934 |
|
|
$ |
474,928 |
|
|
|
|
|
|
|
|
|
|
Liabilities and shareholders’ equity Other liabilities
|
|
$ |
348 |
|
|
$ |
484 |
|
Junior subordinated debt
|
|
|
56,470 |
|
|
|
56,272 |
|
|
|
|
|
|
|
|
|
|
Total liabilities
|
|
|
56,818 |
|
|
|
56,756 |
|
|
|
|
|
|
|
|
|
|
Shareholders’ equity:
|
|
|
|
|
|
|
|
|
Common stock, no par value: authorized 50,000,000 shares; issued
and outstanding 22,775,173 and 22,714,964 shares, respectively
|
|
|
247,587 |
|
|
|
244,318 |
|
Retained earnings
|
|
|
206,307 |
|
|
|
176,057 |
|
Accumulated other comprehensive loss, net
|
|
|
(1,778 |
) |
|
|
(2,203 |
) |
|
|
|
|
|
|
|
|
|
Total shareholders’ equity
|
|
|
452,116 |
|
|
|
418,172 |
|
|
|
|
|
|
|
|
|
|
Total liabilities and shareholders’ equity
|
|
$ |
508,934 |
|
|
$ |
474,928 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Statements of Income |
Condensed Statements of Income |
|
Years ended December 31, |
|
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
|
(in thousands) |
|
Interest expense
|
|
$ |
(1,977 |
) |
|
$ |
(1,403 |
) |
|
$ |
(1,247 |
) |
Administration expense
|
|
|
(814 |
) |
|
|
(2,720 |
) |
|
|
(862 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before equity in net income of Tri Counties Bank
|
|
|
(2,791 |
) |
|
|
(4,123 |
) |
|
|
(2,109 |
) |
Equity in net income of Tri Counties Bank:
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributed
|
|
|
13,304 |
|
|
|
8,270 |
|
|
|
8,175 |
|
Undistributed
|
|
|
32,131 |
|
|
|
20,720 |
|
|
|
20,446 |
|
Income tax benefit
|
|
|
1,174 |
|
|
|
1,241 |
|
|
|
887 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
43,818 |
|
|
$ |
26,108 |
|
|
$ |
27,399 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Statements of Comprehensive Income |
Condensed Statements of Comprehensive
Income |
|
Years ended December 31, |
|
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
|
(in thousands) |
|
Net income
|
|
$ |
43,818 |
|
|
$ |
26,108 |
|
|
$ |
27,399 |
|
Other comprehensive (loss) income, net of tax:
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized holding (losses) gains on securities arising during the
period
|
|
|
(1,098 |
) |
|
|
(94 |
) |
|
|
(2,452 |
) |
Change in minimum pension liability
|
|
|
1,246 |
|
|
|
(4,114 |
) |
|
|
1,750 |
|
Change in joint beneficiary agreement liability
|
|
|
277 |
|
|
|
148 |
|
|
|
400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive (loss) income
|
|
|
425 |
|
|
|
(4,060 |
) |
|
|
(302 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
44,243 |
|
|
$ |
22,048 |
|
|
$ |
27,097 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Statements of Cash Flows |
Condensed Statements of Cash Flows |
|
Years ended December 31, |
|
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
|
(in thousands) |
|
Operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
43,818 |
|
|
$ |
26,108 |
|
|
$ |
27,399 |
|
Adjustments to reconcile net income to net cash provided by
operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Undistributed equity in earnings of Tri Counties Bank
|
|
|
(32,131 |
) |
|
|
(20,720 |
) |
|
|
(20,446 |
) |
Equity compensation vesting expense
|
|
|
1,370 |
|
|
|
1,133 |
|
|
|
1,151 |
|
Equity compensation tax effect
|
|
|
68 |
|
|
|
(225 |
) |
|
|
(356 |
) |
Net change in other assets and liabilities
|
|
|
(1,120 |
) |
|
|
671 |
|
|
|
(1,100 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities
|
|
|
12,005 |
|
|
|
6,967 |
|
|
|
6,648 |
|
Investing activities: None
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of common stock through option exercise
|
|
|
660 |
|
|
|
616 |
|
|
|
251 |
|
Equity compensation tax effect
|
|
|
(68 |
) |
|
|
225 |
|
|
|
356 |
|
Repurchase of common stock
|
|
|
(412 |
) |
|
|
(292 |
) |
|
|
(501 |
) |
Cash dividends paid — common
|
|
|
(11,849 |
) |
|
|
(7,807 |
) |
|
|
(6,745 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used for financing activities
|
|
|
(11,669 |
) |
|
|
(7,258 |
) |
|
|
(6,639 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(decrease) increase in cash and cash equivalents
|
|
|
336 |
|
|
|
(291 |
) |
|
|
9 |
|
Cash and cash equivalents at beginning of year
|
|
|
2,229 |
|
|
|
2,520 |
|
|
|
2,511 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of year
|
|
$ |
2,565 |
|
|
$ |
2,229 |
|
|
$ |
2,520 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|