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TriCo Bancshares Condensed Financial Statements (Parent Only) (Tables) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets | Condensed Balance Sheets
| December 31, 2023 |  | December 31, 2022
| (In thousands)
Assets |  |  |
Cash and cash equivalents | $ | 6,356 |  |  | $ | 7,987 |
Investment in Tri Counties Bank | 1,253,492 |  |  | 1,138,429 |
Other assets | 1,872 |  |  | 1,818 |
Total assets | $ | 1,261,720 |  |  | $ | 1,148,234 |
Liabilities and shareholders’ equity |  |  |
Other liabilities | $ | 939 |  |  | $ | 778 |
Junior subordinated debt | 101,099 |  |  | 101,040 |
Total liabilities | 102,038 |  |  | 101,818 |
Shareholders’ equity: |  |  |
Preferred stock, no par value: 1,000,000 shares authorized, zero issued and outstanding at December 31, 2023 and 2022 | — |  |  | — |
Common stock, no par value: authorized 50,000,000 shares; issued and outstanding 33,268,102 and 33,331,513 shares at December 31, 2023 and 2022, respectively | 697,349 |  |  | 697,448 |
Retained earnings | 615,502 |  |  | 542,873 |
Accumulated other comprehensive loss, net | (153,169) |  |  | (193,905) |
Total shareholders’ equity | 1,159,682 |  |  | 1,046,416 |
Total liabilities and shareholders’ equity | $ | 1,261,720 |  |  | $ | 1,148,234 |
Condensed Statements of Income | Condensed Statements of Income
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
|  |  | (In thousands) |  |
Net interest expense | $ | (6,878) |  |  | $ | (4,385) |  |  | $ | (2,128) |
Administration expense | (1,096) |  |  | (816) |  |  | (985) |
Loss before equity in net income of Tri Counties Bank | (7,974) |  |  | (5,201) |  |  | (3,113) |
Equity in net income of Tri Counties Bank: |  |  |  |  |
Distributed | 52,805 |  |  | 64,188 |  |  | 31,571 |
Undistributed | 70,202 |  |  | 64,896 |  |  | 88,289 |
Income tax benefit | 2,357 |  |  | 1,536 |  |  | 908 |
Net income | $ | 117,390 |  |  | $ | 125,419 |  |  | $ | 117,655 |
Condensed Statements of Comprehensive Income | Condensed Statements of Comprehensive Income (Loss)
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
|  |  | (In thousands) |  |
Net income | $ | 117,390 |  |  | $ | 125,419 |  |  | $ | 117,655 |
Other comprehensive income (loss), net of tax: |  |  |  |  |
Increase (decrease) in unrealized gains on available for sale securities arising during the period | 41,365 |  |  | (204,376) |  |  | (13,788) |
Change in minimum pension liability | (263) |  |  | 8,101 |  |  | 2,602 |
Change in joint beneficiary agreement liability | (366) |  |  | 1,389 |  |  | (113) |
Other comprehensive income (loss) | 40,736 |  |  | (194,886) |  |  | (11,299) |
Comprehensive income (loss) | $ | 158,126 |  |  | $ | (69,467) |  |  | $ | 106,356 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
|  |  | (In thousands) |  |
Operating activities: |  |  |  |  |
Net income | $ | 117,390 |  |  | $ | 125,419 |  |  | $ | 117,655 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Undistributed equity in earnings of Tri Counties Bank | (70,202) |  |  | (64,896) |  |  | (88,289) |
Equity compensation vesting expense | 4,125 |  |  | 3,869 |  |  | 2,638 |
Net change in other assets and liabilities | (3,959) |  |  | (3,834) |  |  | (6,427) |
Net cash provided by operating activities | 47,354 |  |  | 60,558 |  |  | 25,577 |
Investing activities: |  |  |  |  |
Sales or maturities of investments | — |  |  | 4,234 |  |  | — |
Financing activities: |  |  |  |  |
Issuance of common stock through option exercise | 156 |  |  | 1,190 |  |  | 144 |
Repurchase of common stock | (9,240) |  |  | (27,148) |  |  | (4,344) |
Cash dividends paid — common | (39,901) |  |  | (35,797) |  |  | (29,724) |
Net cash used for financing activities | (48,985) |  |  | (61,755) |  |  | (33,924) |
Net change in cash and cash equivalents | (1,631) |  |  | 3,037 |  |  | (8,347) |
Cash and cash equivalents at beginning of year | 7,987 |  |  | 4,950 |  |  | 13,297 |
Cash and cash equivalents at end of year | $ | 6,356 |  |  | $ | 7,987 |  |  | $ | 4,950 |

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