XML 49 R35.htm IDEA: XBRL DOCUMENT
v3.24.0.1

TriCo Bancshares Condensed Financial Statements (Parent Only) | 12 Months Ended
--- | ---
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
TriCo Bancshares Condensed Financial Statements (Parent Only) | TriCo Bancshares Condensed Financial Statements (Parent Only) 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
| 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 (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
| 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 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration