TriCo Bancshares Announces Quarterly Results

  TriCo Bancshares Announces Quarterly Results

Business Wire

CHICO, Calif. -- April 29, 2014

TriCo Bancshares (NASDAQ: TCBK) (the "Company"), parent company of Tri
Counties Bank, today announced earnings of $7,365,000, or $0.45 per diluted
share, for the three months ended March 31, 2014. These results compare to
earnings of $8,477,000, or $0.53 per diluted share reported by the Company for
the three months ended March 31, 2013.

Total assets of the Company increased $142,751,000 (5.5%) to $2,755,184,000 at
March 31, 2014 from $2,612,433,000 at March 31, 2013. Total investments
increased $296,854,000 (192%) to $450,955,000 at March 31, 2014 from
$154,101,000 at March 31, 2013. Total loans increased $154,690,000 (10.1%) to
$1,687,052,000 at March 31, 2014 from $1,532,362,000 at March 31, 2013. Total
deposits increased $125,570,000 (5.5%) to $2,411,120,000 at March 31, 2014
from $2,285,550,000 at March 31, 2013.

The following is a summary of the components of the Company’s consolidated net
income for the periods indicated:

                    Three months ended                    
                         March 31,
(dollars in              2014       2013         $ Change      %       
thousands)                                                          Change
Net Interest             $26,072       $24,569       $1,503         6.1     %
Income
Benefit from
reversal of              1,355         1,108         247            22.3    %
provision for
loan losses
Noninterest              8,295         10,218        (1,923   )     (18.8   %)
income
Noninterest              (23,317 )     (21,601 )     (1,716   )     7.9     %
expense
Provision for            (5,040  )     (5,817  )     777           (13.4   %)
income taxes
Net income               $7,365       $8,477       ($1,112  )     (13.1   %)
                                                                            

The following table shows the components of net interest income and net
interest margin on a fully tax-equivalent (FTE) basis for the periods
indicated:

ANALYSIS OF CHANGE IN NET INTEREST MARGIN ON EARNING ASSETS
(unaudited, dollars in thousands)
                       Three Months Ended                       Three Months Ended                       Three Months Ended
                          March 31, 2014                              December 31, 2013                           March 31, 2013
                          Average       Income/      Yield/       Average       Income/      Yield/       Average       Income/      Yield/
                          Balance         Expense        Rate         Balance         Expense        Rate         Balance         Expense        Rate
Assets
Earning assets
Loans                     $ 1,671,231     $ 23,738       5.68 %       $ 1,649,692     $ 24,470       5.93 %       $ 1,548,565     $ 24,072       6.22 %
Investments -               390,230         2,976        3.05 %         326,696         2,457        3.01 %         156,057         1,187        3.04 %
taxable
Investments -               17,618          218          4.95 %         19,641          256          5.21 %         8,884           162          7.29 %
nontaxable
Cash at Federal
Reserve and other          473,833        309         0.26 %        515,289        375         0.29 %        721,424        446         0.25 %
banks
Total earning               2,552,912      27,241      4.27 %         2,511,318      27,558      4.39 %         2,434,930      25,867      4.25 %
assets
Other assets, net          184,852                                    181,913                                    174,864
Total assets              $ 2,737,764                                 $ 2,693,231                                 $ 2,609,794
Liabilities and shareholders' equity
Interest-bearing
Demand deposits           $ 546,998         121          0.09 %       $ 534,270         117          0.09 %       $ 520,507         141          0.11 %
Savings deposits            840,221         257          0.12 %         826,378         260          0.13 %         782,173         271          0.14 %
Time deposits               280,968         404          0.58 %         297,052         434          0.58 %         333,556         513          0.62 %
Other borrowings            6,461           1            0.06 %         8,629           1            0.05 %         8,188           1            0.05 %
Trust preferred            41,238         304         2.95 %        41,238         311         3.02 %        41,238         311         3.02 %
securities
Total
interest-bearing            1,715,886      1,087       0.25 %         1,707,567      1,123       0.26 %         1,685,662      1,237       0.29 %
liabilities
Noninterest-bearing         731,731                                     699,530                                     651,303
deposits
Other liabilities           35,262                                      37,114                                      39,150
Shareholders'              254,885                                    249,020                                    233,679
equity
Total liabilities
and shareholders'         $ 2,737,764                                 $ 2,693,231                                 $ 2,609,794
equity
Net interest rate                                        4.02 %                                      4.13 %                                      3.96 %
spread
Net interest income/net interest           26,154      4.10 %                        26,435      4.21 %                        24,630      4.05 %
margin (FTE)
FTE adjustment                             (82    )                                   (96    )                                   (61    )
Net interest income                       $ 26,072                                   $ 26,339                                   $ 24,569 
(not FTE)
                                                                                                                                                 

Net interest income (FTE) during the first quarter of 2014 increased
$1,524,000 (6.2%) from the same period in 2013 to $26,154,000. The increase in
net interest income (FTE) was due primarily to a $242,907,000 (147%) increase
in the average balance of investments to $407,848,000, and a $122,666,000
(7.9%) increase in the average balance of loans to $1,671,231,000 that were
partially offset by a 54 basis point decrease in the average yield on loans
from 6.22% during the three months ended March 31, 2013 to 5.68% during the
three months ended March 31, 2014. During much of 2013 and the three months
ended March 31, 2014, the Company used a portion of its Fed funds sold to buy
investments. The increase in average loan balances was due to organic loan
growth and the purchase of $62,698,000 of loans during 2013. The decrease in
average loan yields was due primarily to declines in market yields on new and
renewed loans compared to yields on repricing, maturing, and paid off loans.
The increases in average investment and loan balances added $1,780,000 and
$1,907,000 to net interest income (FTE) while the decrease in average loan
yields reduced net interest income (FTE) by $2,241,000 when compared to the
year-ago quarter. During much of 2013 and the three months ended March 31,
2014, the Company deployed some of its excess Federal funds sold into some
higher yielding investments while trying to maintain an appropriate level of
interest rate risk. Loans acquired through purchase or acquisition of other
banks are classified as Purchased Not Credit Impaired (PNCI), Purchased Credit
Impaired – cash basis (PCI – cash basis), or Purchased Credit Impaired – other
(PCI – other). Loans not acquired in an acquisition or otherwise “purchased”
are classified as “originated”. Often, such purchased loans are purchased at a
discount to face value, and part of this discount is accreted into (added to)
interest income over the remaining life of the loan. Generally, as time goes
on, the effect of this discount accretion decreases as these purchased loans
mature or payoff early. Further details regarding interest income from loans,
including fair value discount accretion, may be found under the heading
“Supplemental Loan Interest Income Data” in the Consolidated Financial Data
table at the end of this press release.

The Company benefited from a $1,355,000 reversal of provision for loan losses
during the three months ended March 31, 2014 versus a benefit of $1,108,000
during the three months ended March 31, 2013. The reversal of provision for
loan losses during the first quarter of 2014 was primarily the result of
improvements in collateral values and estimated cash flows related to
nonperforming originated loans and purchased credit impaired loans, reductions
in nonperforming originated loans and purchased credit impaired loans, and
decreased loss histories for performing originated loans.

The following table presents the key components of noninterest income for the
periods indicated:

                     Three months ended                    
                        March 31,
(dollars in             2014      2013           $ Change      %       
thousands)                                                          Change
Service charges
on deposit              $2,690       $3,140          ($450    )     (14.3   %)
accounts
ATM fees and            2,013        1,875           138            7.4     %
interchange
Other service           520          559             (39      )     (7.0    %)
fees
Mortgage banking        420          416             4              1.0     %
service fees
Change in value
of mortgage             (181   )     (61     )       (120     )     196.7   %
servicing rights
Total service           5,462       5,929          (467     )     (7.9    %)
charges and fees
                                                                    
Gain on sale of         464          2,294           (1,830   )     (79.8   %)
loans
Commission on           771          761             10             1.3     %
NDIP
Increase in cash
value of life           397          426             (29      )     (6.8    %)
insurance
Change in
indemnification         (412   )     (101    )       (311     )     307.9   %
asset
Gain on sale of         1,227        551             676            122.7   %
foreclosed assets
Other noninterest       386         358            28            7.8     %
income
Total other
noninterest             2,833       4,289          (1,456   )     (33.9   %)
income
Total noninterest       $8,295      $10,218        ($1,923  )     (18.8   %)
income
                                                                            

Noninterest income decreased $1,923,000 (18.8%) to $8,295,000 in the three
months ended March 31, 2014 when compared to the three months ended March 31,
2013. The decrease in noninterest income was due primarily to a $1,830,000
(79.9%) decrease in gain on sale of loans to $464,000, and a $450,000 (14.3%)
decrease in service charges on deposit accounts that were partially offset by
a $676,000 (123%) increase in gain on sale of foreclosed assets to $1,227,000.
The decrease in gain on sale of loans was primarily due to the increase in
residential real estate mortgage rates that occurred in May 2013 that resulted
in a significant decrease in mortgage refinance activity, and thus a
significant decrease in newly originated mortgages for the Company to sell.
The decrease in service charges on deposit accounts was primarily due to
reduced customer overdrafts and a resulting decrease in non-sufficient funds
fees. The increase in gain on sale of foreclosed assets was due to a general
increase in property values and sales activity from their lows during the
financial crisis that started in 2008.

Salary and benefit expenses increased $342,000 (2.6%) to $13,303,000 during
the three months ended March 31, 2014 compared to the three months ended March
31, 2013. Base salaries increased $518,000 (6.2%) to $8,866,000 during the
three months ended March 31, 2014 versus the year ago period despite a 1.5%
decrease in the average number of full time equivalent employees from 743 to
732. The average number of full time equivalent employees decreased primarily
due to the reductions in staff from the closing of five branches since
December 31, 2012 that was partially offset by increases in full time
equivalent back office staff and management. The salary expense attributable
to the newly added back office staff and management outweighed the reduction
in salaries from the branch closings. Annual salary merit increases of
approximately 2.5% also contributed to the increase in base salary expense.
Incentive and commission related salary expenses decreased $163,000 (12.7%) to
$1,123,000 during three months ended March 31, 2014 due primarily to decreases
in production related incentives tied to reduced residential real estate
mortgage loan originations and sales. Benefits expense, including retirement,
medical and workers’ compensation insurance, and taxes, decreased $13,000
(0.4%) to $3,314,000 during the three months ended March 31, 2014.

Other noninterest expenses increased $1,374,000 (15.9%) to $10,014,000 during
the three months ended March 31, 2014 compared to the three months ended March
31, 2013. The increase in other noninterest expense was due primarily a
$303,000 (18.3%) increase in occupancy expense to $1,962,000 that included
$238,000 of accelerated depreciation expense of leasehold improvements related
to the closing of two branches in the quarter ended March 31, 2014, a $255,000
(58%) reduction in reversal of provision for losses on unfunded commitments to
$185,000 from $440,000, a $228,000 (44.8%) increase in professional fees to
$739,000 that included $296,000 of legal and consulting fees related to the
proposed merger with North Valley Bancorp, a $147,000 (29.6%) increase in ATM
network charges to $643,000, and a $100,000 (9.3%) increase in data processing
and software expense.

The following table presents the key components of the Company’s noninterest
expense for the periods indicated:

                       Three months ended                   
                          March 31,
(dollars in               2014       2013           $           %      
thousands)                                              Change       Change
Salaries                  $8,866        $8,348          $518         6.2    %
Commissions and           1,123         1,286           (163   )     (12.7  %)
incentives
Employee benefits         3,314        3,327          (13    )     (0.4   %)
Total salaries and        13,303       12,961         342         2.6    %
benefits expense
                                                                     
Occupancy                 1,962         1,659           303          18.3   %
Equipment                 1,036         1,034           2            0.2    %
Change in reserve
for unfunded              (185    )     (440    )       255          (58.0  %)
commitments
Data processing and       1,178         1,078           100          9.3    %
software
Telecommunications        580           525             55           10.5   %
ATM network charges       643           496             147          29.6   %
Professional fees         739           511             228          44.6   %
Advertising and           342           325             17           5.2    %
marketing
Postage                   227           231             (4     )     (1.7   %)
Courier service           234           167             67           40.1   %
Intangible                52            52              0            0.0    %
amortization
Operational losses        177           117             60           51.3   %
Provision for
foreclosed asset          36            27              9            33.3   %
losses
Foreclosed asset          158           99              59           59.6   %
expense
Assessments               521           606             (85    )     (14.0  %)
Other                     2,314        2,153          161         7.5    %
Total other               10,014       8,640          1,374       15.9   %
noninterest expense
Total noninterest         $23,317      $21,601        $1,716      7.9    %
expense

On January21, 2014, the Company and North Valley Bancorp announced that they
entered into an Agreement and Plan of Merger and Reorganization under which
North Valley will merge with and into the Company, with the Company as the
surviving corporation. North Valley Bancorp shareholders will receive a fixed
exchange ratio of 0.9433 shares of TriCo Bancshares common stock for each
share of North Valley common stock. The merger is expected to be completed in
the third quarter of 2014, subject to approval of the merger by shareholders
of both companies, receipt of required regulatory and other approvals and
satisfaction of customary closing conditions.

In addition to the historical information contained herein, this press release
may contain certain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The reader of this press
release should understand that all such forward-looking statements are subject
to various uncertainties and risks that could affect their outcome. The
Company’s actual results could differ materially from those suggested by such
forward-looking statements. Factors that could cause or contribute to such
differences include, but are not limited to, variances in the actual versus
projected growth in assets, return on assets, interest rate fluctuations,
economic conditions in the Company's primary market area, demand for loans,
regulatory and accounting changes, loan losses, expenses, rates charged on
loans and earned on securities investments, rates paid on deposits,
competition effects, fee and other noninterest income earned, whether and when
shareholders and regulators approve the Company’s proposed merger with North
Valley Bancorp, as well as other factors detailed in the Company's reports
filed with the Securities and Exchange Commission which are incorporated
herein by reference, including the Form 10-K for the year ended December 31,
2013. These reports and this entire press release should be read to put such
forward-looking statements in context and to gain a more complete
understanding of the uncertainties and risks involved in the Company's
business. Any forward-looking statement may turn out to be wrong and cannot be
guaranteed. The Company does not intend to update any of the forward-looking
statements after the date of this release. Shareholders are urged to read the
joint proxy statement/prospectus that will be included in the registration
statement on Form S-4, which the Company will file with the SEC in connection
the proposed action because it will contain important information about TriCo,
North Valley, the merger and related matters, including additional risk and
uncertainties

TriCo Bancshares and Tri Counties Bank are headquartered in Chico, California.
Tri Counties Bank has a 39-year history in the banking industry. It operates
41 traditional branch locations and 20 in-store branch locations in 23
California counties. Tri Counties Bank offers financial services and provides
a diversified line of products and services to consumers and businesses, which
include demand, savings and time deposits, consumer finance, online banking,
mortgage lending, and commercial banking throughout its market area. It
operates a network of 67 ATMs and an automated Customer Service Department,
available 24 hours a day, seven days a week. Brokerage services are provided
by the Bank’s investment services affiliate, Raymond James Financial Services,
Inc. For further information please visit the Tri Counties Bank web site at
http://www.tricountiesbank.com.

ADDITIONAL INFORMATION ABOUT THE PROPOSED MERGER TRANSACTION AND WHERE TO FIND
IT

Investors and shareholder are urged to carefully review and consider each of
TriCo’s and North Valley Bancorp’s public filings with the SEC, including but
not limited to their Annual Reports on Form 10-K, their proxy statements,
their Current Reports on Form 8-K and their Quarterly Reports on Form 10-Q.
The documents filed by TriCo with the SEC may be obtained free of charge at
TriCo’s website at www.tricountiesbank.com or at the SEC’s website at
www.sec.gov. These documents may also be obtained free of charge from TriCo by
requesting them in writing to TriCo, 63 Constitution Drive, Chico, California
95973; Attention: Investor Relations, or by telephone at (530) 898-0300. The
documents filed by North Valley with the SEC may be obtained free of charge at
North Valley’s website at www.novb.com or at the SEC’s website at www.sec.gov.
These documents may also be obtained free of charge from North Valley by
requesting them in writing to North Valley Bancorp, 300 Park Marina Circle,
Redding, CA 96001, Attention: Corporate Secretary, or by telephone at Phone:
(530) 226-2900.

TriCo intends to file a registration statement with the SEC which will include
a joint proxy statement of TriCo and North Valley and a prospectus of TriCo,
and each party will file other documents regarding the proposed transaction
with the SEC. Before making any voting or investment decision, investors and
security holders of North Valley and TriCo are urged to carefully read the
entire registration statement and joint proxy statement/prospectus, when they
become available, as well as any amendments or supplements to these documents,
because they will contain important information about the proposed
transaction. A definitive joint proxy statement/prospectus will be sent to the
shareholders of each company seeking required stockholder approvals. Investors
and security holders will be able to obtain the registration statement and the
joint proxy statement/prospectus free of charge from the SEC’s website or from
TriCo or North Valley by writing to the addresses provided for each company
set forth above.

TriCo, North Valley, their directors, executive officers and certain other
persons may be deemed to be participants in the solicitation of proxies from
TriCo and North Valley shareholders in favor of the approval of the
transaction. Information regarding TriCo’s officers and directors will be
included in TriCo’s Form 10-K Annual Report to be filed with the SEC, and
information regarding North Valley's officers and directors will be included
in North Valley's Form 10-K Annual Report to be filed with the SEC.
Descriptions of the interests of the directors and executive officers of TriCo
and North Valley in the proposed merger will be set forth in the proxy
statement/prospectus and other relevant documents filed with the SEC (when
they become available).


TRICO BANCSHARES - CONSOLIDATED FINANCIAL DATA
(Unaudited. Dollars in thousands, except share data)
                  Three months ended
                       March 31,        December 31,     September 30,    June 30,         March 31,
                        2014           2013           2013           2013           2013       
Statement of
Income Data
Interest income        $ 27,159           $ 27,462           $ 27,536           $ 25,756           $ 25,806
Interest expense         1,087              1,123              1,169              1,167              1,237
Net interest             26,072             26,339             26,367             24,589             24,569
income
Provision for
(benefit from)           (1,355     )       172                (393       )       614                (1,108     )
loan losses
Noninterest
income:
   Service
   charges and           5,462              5,973              6,662              6,693              5,929
   fees
   Other income          2,833              1,380              2,465              3,438              4,289
Total
noninterest              8,295              7,353              9,127              10,131             10,218
income
Noninterest
expense:
   Base salaries
   net of
   deferred loan
   origination           8,866              8,832              8,716              8,508              8,348
   costs
   Incentive
   compensation          1,123              943                1,166              1,299              1,286
   expense
   Employee
   benefits and
   other
   compensation          3,314              3,449              2,979              3,083              3,327
   expense
       Total
       salaries
       and               13,303             13,224             12,861             12,890             12,961
       benefits
       expense
   Other
   noninterest           10,014             11,654             10,755             10,619             8,640
   expense
Total
noninterest              23,317             24,878             23,616             23,509             21,601
expense
Income before            12,405             8,642              12,271             10,597             14,294
taxes
Net income             $ 7,365            $ 5,236            $ 7,361            $ 6,325            $ 8,477
Share Data
Basic earnings         $ 0.46             $ 0.33             $ 0.46             $ 0.39             $ 0.53
per share
Diluted earnings       $ 0.45             $ 0.32             $ 0.45             $ 0.39             $ 0.53
per share
Book value per         $ 15.94            $ 15.61            $ 15.27            $ 14.90            $ 14.75
common share
Tangible book
value per common       $ 14.93            $ 14.59            $ 14.24            $ 13.87            $ 13.71
share
Shares                   16,120,297         16,076,662         16,076,662         16,065,469         16,005,191
outstanding
Weighted average         16,096,569         16,076,662         16,073,864         16,027,557         16,002,482
shares
Weighted average         16,322,295         16,333,476         16,230,160         16,134,510         16,091,150
diluted shares
Credit Quality
Nonperforming          $ 44,334           $ 45,131           $ 53,261           $ 52,661           $ 54,763
originated loans
Total
nonperforming            51,968             53,216             61,384             61,466             63,963
loans
Foreclosed
assets, net of           3,215              6,262              4,140              5,054              6,124
allowance
Loans                    766                1,840              985                1,947              2,771
charged-off
Loans recovered        $ 2,197            $ 574              $ 1,119            $ 1,065            $ 1,098
Selected
Financial Ratios
Return on
average total            1.08       %       0.78       %       1.13       %       0.98       %       1.30       %
assets
Return on                11.56      %       8.41       %       12.08      %       10.54      %       14.51      %
average equity
Average yield on         5.68       %       5.93       %       6.14       %       5.94       %       6.22       %
loans
Average yield on
interest-earning         4.27       %       4.39       %       4.60       %       4.27       %       4.25       %
assets
Average rate on
interest-bearing         0.25       %       0.26       %       0.28       %       0.28       %       0.29       %
liabilities
Net interest
margin (fully            4.10       %       4.21       %       4.40       %       4.07       %       4.05       %
tax-equivalent)
Supplemental
Loan Interest
Income Data:
Discount
accretion PCI -        $ 203              $ 255              $ 140              $ 129              $ 167
cash basis loans
Discount
accretion PCI -          984                893                898                732                597
other loans
Discount
accretion PNCI           379                568                1,115              815                766
loans
All other loan           22,172             22,754             22,970             22,207             22,542
interest income
Total loan             $ 23,738           $ 24,470           $ 25,123           $ 23,883           $ 24,072
interest income
                                                                                                                

TRICO BANCSHARES - CONSOLIDATED FINANCIAL DATA
(Unaudited. Dollars in thousands)
                          Three months ended
                              March 31,       December 31,    September 30,   June 30,        March 31,
Balance Sheet Data             2014          2013          2013          2013          2013      
Cash and due from banks       $ 502,251         $ 598,368         $ 541,150         $ 592,155         $ 802,271
Securities, available           97,269            104,647           115,215           127,519           144,454
for sale
Securities, held to             344,523           240,504           193,262           85,643            -
maturity
Federal Home Loan Bank          9,163             9,163             9,163             9,163             9,647
Stock
Loans held for sale             1,119             2,270             3,247             6,582             7,931
Loans:
    Commercial loans            119,418           131,878           133,616           128,410           115,483
    Consumer loans              381,786           383,163           389,711           387,217           376,063
    Real estate                 1,126,298         1,107,863         1,091,475         1,097,446         1,010,249
    mortgage loans
    Real estate                 59,550            49,103            42,249            38,967            30,567
    construction loans
Total loans, gross              1,687,052         1,672,007         1,657,051         1,652,040         1,532,362
Allowance for loan              (38,322   )       (38,245   )       (39,340   )       (39,599   )       (39,867   )
losses
Foreclosed assets               3,215             6,262             4,140             5,054             6,124
Premises and equipment          32,004            31,612            31,246            31,194            29,468
Cash value of life              52,706            52,309            51,919            51,388            51,008
insurance
Goodwill                        15,519            15,519            15,519            15,519            15,519
Intangible assets               831               883               935               987               1,040
Mortgage servicing              6,107             6,165             6,049             5,571             4,984
rights
FDIC indemnification            (220      )       206               861               1,441             1,807
asset
Accrued interest                6,690             6,516             6,450             7,339             7,201
receivable
Other assets                    35,277            35,880            35,239            35,935            38,484
Total assets                  $ 2,755,184         2,744,066         2,632,106         2,587,931         2,612,433
Deposits:
    Noninterest-bearing         728,492           789,458           656,266           645,461           639,420
    demand deposits
    Interest-bearing            554,296           533,351           524,897           514,088           531,695
    demand deposits
    Savings deposits            856,811           798,986           811,182           791,978           786,352
    Time certificates           271,521           288,688           300,966           315,175           328,083
Total deposits                  2,411,120         2,410,483         2,293,311         2,266,702         2,285,550
Accrued interest                865               938               937               944               975
payable
Reserve for unfunded            2,230             2,415             2,875             3,210             3,175
commitments
Other liabilities               36,035            31,711            33,667            29,936            37,340
Other borrowings                6,719             6,335             14,626            6,575             8,125
Junior subordinated             41,238            41,238            41,238            41,238            41,238
debt
Total liabilities               2,498,207         2,493,120         2,386,654         2,348,605         2,376,403
Total shareholders'             256,977           250,946           245,452           239,326           236,030
equity
Accumulated other
    comprehensive gain          1,802             1,857             132               49                1,538
Average loans                   1,671,231         1,649,692         1,635,506         1,608,511         1,548,565
Average                         2,552,912         2,511,318         2,405,194         2,422,818         2,434,920
interest-earning assets
Average total assets            2,737,764         2,693,231         2,603,243         2,584,734         2,609,794
Average deposits                2,399,918         2,357,230         2,274,042         2,259,471         2,287,539
Average total equity          $ 254,885         $ 249,020         $ 243,776         $ 239,985         $ 233,679
Total risk based                14.8      %       14.8      %       14.9      %       14.7      %       15.2      %
capital ratio
Tier 1 capital ratio            13.6      %       13.5      %       13.6      %       13.5      %       13.9      %
Tier 1 leverage ratio           10.2      %       10.2      %       10.4      %       10.2      %       9.9       %
Tangible capital ratio          8.8       %       8.6       %       8.8       %       8.7       %       8.5       %

Contact:

TriCo Bancshares
Richard P. Smith, 530-898-0300
President & CEO
 
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