TriCo Bancshares Condensed Financial Statements (Parent Only)

3 Months Ended

Mar. 31, 2017

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, 2017			December 31, 2016
	(In thousands)
Assets
Cash and Cash equivalents	$	2,840		$	2,802
Investment in Tri Counties Bank		539,273			529,907
Other assets		1,738			1,711
Total assets	$	543,851		$	534,420
Liabilities and shareholders’ equity
Other liabilities	$	420		$	406
Junior subordinated debt		56,713			56,667
Total liabilities		57,133			57,073
Shareholders’ equity:
Common stock, no par value: authorized 50,000,000 shares; issued and outstanding 22,873,305 and 22,867,802 shares, respectively		253,456			252,820
Retained earnings		240,664			232,440
Accumulated other comprehensive loss, net		(7,402	)		(7,913	)
Total shareholders’ equity		486,718			477,347
Total liabilities and shareholders’ equity	$	543,851		$	534,420
Condensed Statements of Income	Three months ended March 31,
	2017			2016
	(In thousands)
Interest expense	$	595		$	535
Administration expense		159			149
Loss before equity in net income of Tri Counties Bank		(754	)		(684	)
Equity in net income of Tri Counties Bank:
Distributed		4,042			3,680
Under distributed		8,474			7,390
Income tax benefit		317			288
Net income	$	12,079		$	10,674
Condensed Statements of Comprehensive Income	Three months ended March 31,
	2017			2016
	(In thousands)
Net income	$	12,079		$	10,674
Other comprehensive loss, net of tax:
Increase (decrease) in unrealized gains on available for sale securities arising during the period		457			3,550
Change in minimum pension liability		54			—
Other comprehensive loss		511			3,550
Comprehensive income	$	12,590		$	14,224
Condensed Statements of Cash Flows	Three months ended March 31,
	2017			2016
	(In thousands)
Operating activities:
Net income	$	12,079		$	10,674
Adjustments to reconcile net income to net cash provided by operating activities:
Under distributed equity in earnings of Tri Counties Bank		(8,474	)		(7,390	)
Equity compensation vesting expense		381			331
Stock option excess tax benefits		—			(10	)
Net change in other assets and liabilities		(348	)		(249	)
Net cash provided by operating activities		3,638			3,356
Investing activities: None
Financing activities:
Stock option excess tax benefits		—			10
Issuance of common stock through option exercise		—			173
Repurchase of common stock		(169	)		—
Cash dividends paid — common		(3,431	)		(3,418	)
Net cash used for financing activities		(3,600	)		(3,235	)
Net change in cash and cash equivalents		38			121
Cash and cash equivalents at beginning of year		2,802			2,565
Cash and cash equivalents at end of year	$	2,840		$	2,686