TriCo Bancshares : Announces Quarter 4 Earnings

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TRICO BANCSHARES

Donnelley Financial

12.1.11

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30-Jan-2017 12:10 EST 337182 TX 1 3* FORM 8-K

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 8-K Current report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 30, 2017 TriCo Bancshares

(Exact name of registrant as specified in its charter)

California 0-10661 94-2792841

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(State or other jurisdiction

of incorporation or organization)

(Commission File No.)

(I.R.S. Employer Identification No.)

63 Constitution Drive, Chico, California 95973

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: [phone]

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

• Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

• Soliciting material pursuant to rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

• Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

• Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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FORM 8-K

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TRICO BANCSHARES

Donnelley Financial

12.1.11

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30-Jan-2017 12:10 EST 337182 TX 2 3* FORM 8-K

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Item 2.02. Results of Operations and Financial Condition.

On January 30, 2017, TriCo Bancshares announced its financial results for the three and twelve month periods ended December 31, 2016. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.

Item 9.01: Financial Statements and Exhibits

(d) Exhibits

99.1 Press release dated January 30, 2017

* The information furnished under Item 2.02 and Item 9.01 of this Current Period on Form 8-K, including the exhibit, shall not be deemed "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section, nor shall it be deemed incorporated by reference in any registration statement or other filings of TriCo Bancshares under the Securities Act of 1933, as amended, except as shall be set forth by specific reference in such filing.

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TRICO BANCSHARES

Donnelley Financial

12.1.11

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30-Jan-2017 12:10 EST 337182 TX 3 3* FORM 8-K

SIGNATURES

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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

TRICO BANCSHARES

Date: January 30, 2017 By /s/ Thomas J. Reddish Thomas J. Reddish, Executive Vice President and

Chief Financial Officer

(Principal Financial and Accounting Officer)

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TRICO BANCSHARES

Donnelley Financial

12.1.11

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30-Jan-2017 12:47 EST 337182 EX99_1 1 3* FORM 8-K

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Exhibit 99.1

PRESS RELEASE Contact: Richard P. Smith

For Immediate Release President & CEO [phone]

TRICO BANCSHARES ANNOUNCES QUARTERLY AND ANNUAL RESULTS

CHICO, Calif. - (January 30, 2017) - TriCo Bancshares (NASDAQ: TCBK) (the "Company"), parent company of Tri Counties Bank, today announced earnings of $12,533,000, or $0.54 per diluted share, for the three months ended December 31, 2016. For the three months ended December 31, 2015 the Company reported earnings of $11,422,000, or $0.50 per diluted share. Diluted shares outstanding were 23,115,708 and 23,055,900 for the three months ended December 31, 2016 and 2015, respectively.

For the year ended December 31, 2016 the Company reported earnings of $44,811,000, or $1.94 per diluted share. For the year ended December 31, 2015 the Company reported earnings of $43,818,000, or $1.91 per diluted share.

The following is a summary of the components of the Company's consolidated net income, average common shares, and average diluted common shares outstanding for the periods indicated:

Three months ended December 31,

(dollars and shares in thousands)	2016	2015	$ Change	% Change
Net Interest Income	$ 43,155	$ 41,141	$ 2,014	4.9%
Reversal of provision for loan losses	1,433	908	525
Noninterest income	12,462	11,445	1,017	8.9%
Noninterest expense	(36,563)	(34,684)	(1,879)	5.4%
Provision for income taxes	(7,954)	(7,388)	(566)	7.7%
Net income	$ 12,533	$ 11,422	$ 1,111	9.7%
Average common shares	22,846	22,770	76	0.3%
Average diluted common shares	23,116	23,056	60	0.3%

The following is a summary of certain of the Company's consolidated assets and deposits as of the dates indicated:

Ending balances ($'s in thousands)	As of December 31, 2016 2015		$ Change	% Change
Total assets	$4,517,968	$4,220,722	$297,246	7.0%
Total loans	2,759,593	2,522,937	236,656	9.4%
Total investments	1,169,725	1,148,371	21,354	1.9%
Total deposits	$3,895,560	$3,631,266	$264,294	7.3%
Qtrly Avg balances ($'s in thousands)	As of December 31, 2016 2015		$ Change	% Change
Total assets	$4,445,310	$4,115,369	$329,941	8.0%
Total loans	2,695,743	2,489,406	206,337	8.3%
Total investments	1,174,705	1,112,992	61,713	5.5%
Total deposits	$3,820,773	$3,543,423	$277,350	7.8%

Included in the period ending balances and quarterly average balances is the addition of deposits from the acquisition of three bank branches from Bank of America, that totaled $161 million on the date of acquisition, March 18, 2016. These three acquired branches are located in the cities of Arcata, Eureka, and Fortuna in Humboldt County, California. The Bank paid $3,204,000 for deposit relationships with balances of $161,231,000, loans with balances of $289,000, premises and equipment valued at $1,590,000, other assets valued at $141,000, and recorded a core deposit intangible asset of $2,046,000 and goodwill of $849,000.