TriCo Bancshares (TCBK) 8-K Trico Bancshares Announces Quarterly Results

Exhibit 99.1

PRESS RELEASE	Contact:             Richard P. Smith
For Immediate Release	President & CEO (530) 898-0300

TRICO BANCSHARES ANNOUNCES QUARTERLY RESULTS

CHICO, Calif. – (October 29, 2014) – TriCo Bancshares (NASDAQ: TCBK) (the “Company”), parent company of Tri Counties Bank, today announced earnings of $8,234,000, or $0.50 per diluted share, for the three months ended September 30, 2014. These results compare to earnings of $7,361,000, or $0.45 per diluted share reported by the Company for the three months ended September 30, 2013.

Included in the results for the three months ended September 30, 2014 were $799,000 of noninterest expenses related to the merger with North Valley Bancorp that were incurred by the Company during the three months ended September 30, 2014 of which $688,000 are not deductible for income tax purposes, the recovery of $769,000 related to an originated residential construction loan that was previously charged off and resulted in a reversal of provision for loan losses of $769,000, the receipt of $2,500,000 representing the complete payoff of all principal and interest due on a purchased credit impaired commercial real estate loan that was accounted for as part of a pool of loans that resulted in a reversal of provision for loan losses of $670,000, and gains on the sale of foreclosed assets of $385,000. Excluding these merger related expenses, loan recoveries, and gain on sale of foreclosed assets, earnings for the three months ended September 30, 2014 would have been $7,865,000 or $0.48 per diluted share.

The Company’s results for the three months ended September 30, 2014 do not include the effect of revenue and expenses from the operations of North Valley Bancorp, or the TriCo Bancshares common stock issued in consideration of the merger, as the merger with North Valley Bancorp occurred on October 3, 2014. Beginning on October 4, 2014, the effect of revenue and expenses from the operations of North Valley Bancorp, and the TriCo Bancshares common stock issued in consideration of the merger will be included in the results of the Company.

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

	Three months ended
	September 30,
(dollars in thousands)	2014			2013			$ Change			% Change
Net Interest Income	$	28,049		$	26,367		$	1,682			6.4	%
Benefit from reversal of provision for loan losses		2,977			393			2,584			657.5	%
Noninterest income		8,589			9,127			(538	)		(5.9	%)
Noninterest expense		(25,380	)		(23,616	)		(1,764	)		7.5	%
Provision for income taxes		(6,001	)		(4,910	)		(1,091	)		22.2	%
Net income	$	8,234		$	7,361		$	873			11.9	%

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

	As of September 30,
(dollars in thousands)	2014		2013		$ Change		% Change
Total assets	$	2,794,943	$	2,632,106	$	162,837		6.2	%
Total loans		1,765,871		1,657,051	$	108,820		6.6	%
Total investments		540,053		317,640	$	222,413		70.0	%
Total deposits	$	2,437,356	$	2,293,311	$	144,045		6.3	%

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
	September 30, 2014								June 30, 2014								September 30, 2013
	Average		Income/			Yield/			Average		Income/			Yield/			Average		Income/			Yield/
	Balance		Expense			Rate			Balance		Expense			Rate			Balance		Expense			Rate
Assets
Earning assets
Loans	$	1,752,026	$	24,980			5.70	%	$	1,714,061	$	24,433			5.70	%	$	1,635,506	$	25,123			6.14	%
Investments - taxable		478,223		3,823			3.20	%		478,904		3,594			3.00	%		249,901		1,863			2.98	%
Investments - nontaxable		15,881		184			4.63	%		16,102		187			4.65	%		20,809		275			5.29	%
Cash at Federal Reserve and other banks		315,267		213			0.27	%		350,229		274			0.31	%		498,978		378			0.30	%
Total earning assets		2,561,397		29,200			4.56	%		2,559,296		28,488			4.45	%		2,405,194		27,639			4.60	%
Other assets, net		210,575								178,338								198,049
Total assets	$	2,771,972							$	2,737,634							$	2,603,243
Liabilities and shareholders’ equity
Interest-bearing
Demand deposits	$	556,406		111			0.08	%	$	550,372		115			0.08	%	$	522,784		145			0.11	%
Savings deposits		870,615		273			0.13	%		853,643		263			0.12	%		800,126		249			0.12	%
Time deposits		256,155		388			0.61	%		268,352		390			0.58	%		307,957		460			0.60	%
Other borrowings		6,829		—			0.00	%		6,217		1			0.06	%		7,693		1			0.05	%
Trust preferred securities		41,238		310			3.01	%		41,238		306			2.97	%		41,238		314			3.05	%
Total interest-bearing liabilities		1,731,243		1,082			0.25	%		1,719,822		1,075			0.25	%		1,679,799		1,169			0.28	%
Noninterest-bearing deposits		741,792								722,779								643,175
Other liabilities		33,089								34,216								36,494
Shareholders’ equity		265,848								260,817								243,776
Total liabilities and shareholders’ equity	$	2,771,972							$	2,737,634							$	2,603,243
Net interest rate spread							4.31	%							4.20	%							4.32	%
Net interest income/net interest margin (FTE)				28,118			4.39	%				27,413			4.28	%				26,470			4.40	%
FTE adjustment				(69	)							(70	)							(103	)
Net interest income (not FTE)			$	28,049							$	27,343							$	26,367

Net interest income (FTE) during the third quarter of 2014 increased $1,648,000 (6.2%) from the same period in 2013 to $28,118,000. The increase in net interest income (FTE) was due primarily to a $223,394,000 (83%) increase in the average balance of investments to $494,104,000, and a $116,520,000 (7.1%) increase in the average balance of loans to $1,752,026,000 that were partially offset by a 44 basis point decrease in the average yield on loans from 6.14% during the three months ended September 30, 2013 to 5.70% during the three months ended September 30, 2014. During much of 2013 and the nine months ended September 30, 2014, the Company used a portion of its Fed funds sold to buy investments with higher yields while maintaining an appropriate level of interest rate risk. The increase in average loan balances was due to organic loan growth and the purchase of $19,690,000 and $12,327,000 of single family residential real estate loans during the second and third quarters of 2014, respectively. The decrease in average loan yields is 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 $1,636,000 and $1,789,000 to net interest income (FTE) while the decrease in average loan yields reduced net interest income (FTE) by $1,932,000 when compared to the year-ago quarter. During the three and nine months ended September 30, 2014 and some of 2013, the Company continued to experience some increase in loan demand albeit generally at lower yields than existing loans.

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 pay off 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 $2,977,000 reversal of provision for loan losses during the three months ended September 30, 2014 versus a $393,000 reversal of provision during the three months ended September 30, 2013. As noted above, during the three months ended September 30, 2014, the Company recovered $769,000 related to an originated residential construction loan that was previously charged off that resulted in a reversal of provision for loan losses of $769,000, and received $2,500,000 representing the complete payoff of all principal and interest due on a purchased credit impaired commercial real estate loan that was accounted for as part of a pool of loans that resulted in a reversal of provision for loan losses of $670,000. Excluding these items, the benefit from reversal of provision for loan losses would have been $1,538,000 for the three months ended September 30, 2014. In general, the credit quality of the Company’s loans continued to improve during the quarter ended September 30, 2014 due to 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 decreases in loss histories for performing originated loans compared to year-ago levels.

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

	Three months ended
	September 30,
(dollars in thousands)	2014			2013			$ Change			% Change
Service charges on deposit accounts		2,885			3,353			(468	)		(14.0	%)
ATM fees and interchange		2,329			2,132			197			9.2	%
Other service fees		545			562			(17	)		(3.0	%)
Mortgage banking service fees		419			434			(15	)		(3.5	%)
Change in value of mortgage servicing rights		(88	)		181			(269	)		(148.6	%)
Total service charges and fees		6,090			6,662			(572	)		(8.6	%)
Gain on sale of loans		509			1,083			(574	)		(53.0	%)
Commission on NDIP		703			692			11			1.6	%
Increase in cash value of life insurance		490			531			(41	)		(7.7	%)
Change in indemnification asset		14			(461	)		475			(103.0	%)
Gain on sale of foreclosed assets		385			313			72			23.0	%
Other noninterest income		398			307			91			29.6	%
Total other noninterest income		2,499			2,465			34			1.4	%
Total noninterest income	$	8,589		$	9,127		($	538	)		(5.9	%)

Noninterest income decreased $538,000 (5.9%) to $8,589,000 during the three months ended September 30, 2014 compared to the three months ended September 30, 2013. The decrease in noninterest income was due primarily to a $574,000 (53.0%) decrease in gain on sale of loans to $509,000, a $468,000 (14.0%) decrease in service charges on deposit accounts, and a $269,000 decrease in change in value of mortgage servicing rights, that were partially offset by a $475,000 improvement in change in indemnification asset and a $197,000 (9.2%) increase in ATM fees and interchange revenue. The decrease in gain on sale of loans was primarily due to a significant decrease in newly originated mortgages for the Company to sell, following the increase in residential real estate mortgage rates that occurred in May 2013 that resulted in a significant decrease in mortgage refinance activity. 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 decrease in the change in value of mortgage servicing rights was due primarily to a decrease in the balance of mortgages serviced during the quarter ended September 30, 2014 compared to an increase in such balances during the quarter ended September 30, 2013, and a slight decrease in estimated prepayment speeds of such mortgages during the three months ended September 30, 2014 versus a larger decrease in estimated prepayment speeds during the three months ended September 30, 2013. An increase in prepayment speed decreases the value of mortgage servicing rights and a decrease in mortgage prepayment speed increases the value of mortgage servicing rights. Mortgage prepayment speed generally increases when market rates for mortgages decrease, and vice versa. The improvement in change in indemnification asset was primarily due to stable and low expectations of future covered losses when compared to changes in the year-ago quarter. The increase in ATM fees and interchange revenue was primarily due to increased interchange revenue from the negotiation of a more favorable agreement with the Company’s interchange service provider and increased sales efforts in this area.

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

	Three months ended
	September 30,
(dollars in thousands)	2014		2013			$ Change			% Change
Salaries		9,066		8,716		$	350			4.0	%
Commissions and incentives		1,265		1,166			99			8.5	%
Employee benefits		3,038		2,979			59			2.0	%
Total salaries and benefits expense		13,369		12,861			508			3.9	%
Occupancy		1,971		1,925			46			2.4	%
Equipment		995		1,089			(94	)		(8.6	%)
Change in reserve for unfunded commitments		175		(335	)		510			(152.2	%)
Data processing and software		1,637		1,184			453			38.3	%
Telecommunications		648		629			19			3.0	%
ATM network charges		657		626			31			5.0	%
Professional fees		1,468		776			692			89.2	%
Advertising and marketing		581		492			89			18.1	%
Postage		179		269			(90	)		(33.5	%)
Courier service		269		217			52			24.0	%
Intangible amortization		53		53			0			0.0	%
Operational losses		138		137			1			0.7	%
Provision for foreclosed asset losses		98		47			51			108.5	%
Foreclosed asset expense		94		48			46			95.8	%
Assessments		493		572			(79	)		(13.8	%)
Other		2,555		3,026			(471	)		(15.6	%)
Total other noninterest expense		12,011		10,755			1,256			11.7	%
Total noninterest expense	$	25,380	$	23,616		$	1,764			7.5	%

Salary and benefit expenses increased $508,000 (3.9%) to $13,369,000 during the three months ended September 30, 2014 compared to the three months ended September 30, 2013. Base salaries increased $350,000 (4.0%) to $9,066,000 during the three months ended September 30, 2014 versus the year ago period despite a 2.0% decrease in the average number of full time equivalent employees from 732 to 717. The average number of full time equivalent employees decreased primarily due to the reductions in staff from the closing of six 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 salary expense attributable to 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 increased $99,000 (8.5%) to $1,265,000 during three months ended September 30, 2014. Benefits expense, including retirement, medical and workers’ compensation insurance, and taxes, increased $59,000 (2.0%) to $3,038,000 during the three months ended September 30, 2014.

Other noninterest expense increased $1,256,000 (11.7%) to $12,011,000 during the three months ended September 30, 2014 compared to the three months ended September 30, 2013. The increase in other noninterest expense was due primarily to a $692,000 (89.2%) increase in professional fees to $1,468,000, a $510,000 increase in provision for losses for unfunded commitments to $175,000, and a $453,000 (38.3%) increase in data processing and software expenses to $1,637,000 that were partially offset by a $471,000 (15.6%) decrease in other noninterest expenses. The increase in professional fees was mainly due to $492,000 of legal and consulting expenses related to the North Valley Bancorp merger. The increase in provision for losses for unfunded commitments was due to increased unfunded commitments during the three months ended September 30, 2014 compared to a decrease in unfunded commitments in the year-ago quarter. The increase in data processing and software expenses was due primarily to $307,000 of system conversion planning expenses related to the North Valley Bancorp merger. The decrease in other noninterest expense was due primarily to $339,000 of legal settlement expense during the three months ended September 30, 2013 compared to no legal settlement expenses during the three months ended September 30, 2014. During the three months ended September 30, 2014, the Company incurred $799,000 of noninterest expense related to the North Valley Bancorp merger.

On October 3, 2014, TriCo completed its acquisition of North Valley Bancorp. Based on an exchange ratio of 0.9433 shares of TriCo common stock for each share of North Valley Bancorp common stock, North Valley Bancorp shareholders received a total of 6,575,550 shares of TriCo common stock and $6,823 of cash in-lieu of fractional shares for all of the common shares of North Valley Bancorp. The 6,575,550 shares of TriCo common stock issued to North Valley Bancorp shareholders represents, on a pro forma basis, 28.9% of the 22,714,964 shares of the combined Company’s outstanding common stock on October 3, 2014. Based on TriCo’s closing stock price of $23.01 on October 3, 2014, North Valley Bancorp shareholders received consideration valued at $151,310,000 or approximately $21.71 for each of the 6,971,105 shares of North Valley Bancorp common stock outstanding immediately prior to the merger. TriCo appointed three North Valley Bancorp directors to TriCo’s board upon closing of the merger on October 3, 2014 as contemplated by the merger agreement.

North Valley Bancorp was headquartered in Redding, California, and was the parent of North Valley Bank that had approximately $935 million in assets and 22 commercial banking offices in Shasta, Humboldt, Del Norte, Mendocino, Yolo, Sonoma, Placer and Trinity Counties in Northern California at June 30, 2014. In connection with the acquisition, North Valley Bank was merged into Tri Counties Bank.

Richard Smith, President and CEO of Tri Counties Bank commented, “We are very excited with the addition of the talented bankers that have joined our team as a result of our acquisition of North Valley Bank. We continue to be impressed with their efforts to capitalize on opportunities afforded them by our business combination. We are quickly becoming one team working together for a common goal. Together we are better.”

Smith added, “Our acquisition of North Valley Bancorp was completed on October 3, 2014. On October 25, 2014, we completed the data conversion of the information systems from North Valley Bancorp to Tri Counties Bank. This integration of data systems is a critical phase of our merger plan, and allows us to continue forward during the 4th quarter of 2014 to further integrate and consolidate our banking operations. We are pleased with our progress to date as we continue to execute our merger plan.”

In addition to the historical information contained herein, this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to various uncertainties and risks that could affect their outcome. The Company’s actual results could differ materially. 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, the Company’s ability to effectively integrate the business of North Valley as anticipated following the merger, 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. The Company does not intend to update any of the forward-looking statements after the date of this release.

Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ: TCBK) headquartered in Chico, California, providing a unique brand of customerService with Solutions available in traditional stand-alone and in-store bank branches in communities throughout Northern and Central California. Tri Counties Bank provides an extensive and competitive breadth of consumer, small business and commercial banking financial services, along with convenient around-the-clock ATM, online and mobile banking access. Brokerage services are provided by the Bank’s investment services through affiliation with Raymond James Financial Services, Inc. Visitwww.TriCountiesBank.com to learn more.

TRICO BANCSHARES – CONSOLIDATED FINANCIAL DATA

(Unaudited. Dollars in thousands, except share data)

	Three months ended
	September 30,			June 30,			March 31,			December 31,			September 30,
	2014			2014			2014			2013			2013
Statement of Income Data
Interest income	$	29,131		$	28,418		$	27,159		$	27,462		$	27,536
Interest expense		1,082			1,075			1,087			1,123			1,169
Net interest income		28,049			27,343			26,072			26,339			26,367
(Benefit from) provision for loan losses		(2,977	)		1,708			(1,355	)		172			(393	)
Noninterest income:
Service charges and fees		6,090			5,519			5,462			5,973			6,662
Other income		2,499			2,358			2,833			1,380			2,465
Total noninterest income		8,589			7,877			8,295			7,353			9,127
Noninterest expense:
Base salaries net of deferred loan origination costs		9,066			9,008			8,866			8,832			8,716
Incentive compensation expense		1,265			1,205			1,123			943			1,166
Employee benefits and other compensation expense		3,038			3,104			3,314			3,449			2,979
Total salaries and benefits expense		13,369			13,317			13,303			13,224			12,861
Other noninterest expense		12,011			11,799			10,014			11,654			10,755
Total noninterest expense		25,380			25,116			23,317			24,878			23,616
Income before taxes		14,235			8,396			12,405			8,642			12,271
Net income	$	8,234		$	4,859		$	7,365		$	5,236		$	7,361
Share Data
Basic earnings per share	$	0.51		$	0.30		$	0.46		$	0.33		$	0.46
Diluted earnings per share	$	0.50		$	0.30		$	0.45		$	0.32		$	0.45
Book value per common share	$	16.57		$	16.17		$	15.94		$	15.61		$	15.27
Tangible book value per common share	$	15.56		$	15.16		$	14.93		$	14.59		$	14.24
Shares outstanding		16,139,414			16,133,414			16,120,297			16,076,662			16,076,662
Weighted average shares		16,136,675			16,128,550			16,096,569			16,076,662			16,073,864
Weighted average diluted shares		16,330,746			16,310,463			16,322,295			16,333,476			16,230,160
Credit Quality
Nonperforming originated loans	$	33,849		$	37,164		$	44,334		$	45,131		$	53,261
Total nonperforming loans		40,643			44,200			51,968			53,216			61,384
Foreclosed assets, net of allowance		5,096			5,785			3,215			6,262			4,140
Loans charged-off		345			1,028			766			1,840			985
Loans recovered	$	1,274		$	967		$	2,197		$	574		$	1,119
Selected Financial Ratios
Return on average total assets		1.19	%		0.71	%		1.08	%		0.78	%		1.13	%
Return on average equity		12.39	%		7.45	%		11.56	%		8.41	%		12.08	%
Average yield on loans		5.70	%		5.70	%		5.68	%		5.93	%		6.14	%
Average yield on interest-earning assets		4.56	%		4.45	%		4.27	%		4.39	%		4.60	%
Average rate on interest-bearing liabilities		0.25	%		0.25	%		0.25	%		0.26	%		0.28	%
Net interest margin (fully tax-equivalent)		4.39	%		4.28	%		4.10	%		4.21	%		4.40	%
Supplemental Loan Interest Income Data:
Discount accretion PCI - cash basis loans	$	290		$	69		$	203		$	255		$	140
Discount accretion PCI - other loans		822			811			984			893			898
Discount accretion PNCI loans		402			624			379			568			1,115
All other loan interest income		23,466			22,929			22,172			22,754			22,970
Total loan interest income	$	24,980		$	24,433		$	23,738		$	24,470		$	25,123

TRICO BANCSHARES – CONSOLIDATED FINANCIAL DATA

(Unaudited. Dollars in thousands)

	Three months ended
	September 30,			June 30,			March 31,			December 31,			September 30,
	2014			2014			2014			2013			2013
Balance Sheet Data
Cash and due from banks	$	369,679		$	344,383		$	502,251		$	598,368		$	541,150
Securities, available for sale		84,962			91,514			97,269			104,647			115,215
Securities, held to maturity		443,509			422,502			344,523			240,504			193,262
Federal Home Loan Bank Stock		11,582			11,582			9,163			9,163			9,163
Loans held for sale		2,724			1,671			1,119			2,270			3,247
Loans:
Commercial loans		135,085			137,341			119,418			131,878			133,616
Consumer loans		373,620			377,143			381,786			383,163			389,711
Real estate mortgage loans		1,214,153			1,167,856			1,126,298			1,107,863			1,091,475
Real estate construction loans		43,013			56,246			59,550			49,103			42,249
Total loans, gross		1,765,871			1,738,586			1,687,052			1,672,007			1,657,051
Allowance for loan losses		(37,920	)		(39,968	)		(38,322	)		(38,245	)		(39,340	)
Foreclosed assets		5,096			5,785			3,215			6,262			4,140
Premises and equipment		32,181			31,880			32,004			31,612			31,246
Cash value of life insurance		53,596			53,106			52,706			52,309			51,919
Goodwill		15,519			15,519			15,519			15,519			15,519
Intangible assets		726			779			831			883			935
Mortgage servicing rights		5,985			5,909			6,107			6,165			6,049
Indemnification (liability) asset		(3	)		(37	)		(220	)		206			861
Accrued interest receivable		6,862			7,008			6,690			6,516			6,450
Other assets		34,574			34,262			35,277			35,880			35,239
Total assets	$	2,794,943			2,724,481			2,755,184			2,744,066			2,632,106
Deposits:
Noninterest-bearing demand deposits		762,452			720,743			728,492			789,458			656,266
Interest-bearing demand deposits		553,053			547,110			554,296			533,351			524,897
Savings deposits		872,432			854,127			856,811			798,986			811,182
Time certificates		249,419			263,216			271,521			288,688			300,966
Total deposits		2,437,356			2,385,196			2,411,120			2,410,483			2,293,311
Accrued interest payable		753			849			865			938			937
Reserve for unfunded commitments		2,220			2,045			2,230			2,415			2,875
Other liabilities		33,331			28,135			36,035			31,711			33,667
Other borrowings		12,665			6,075			6,719			6,335			14,626
Junior subordinated debt		41,238			41,238			41,238			41,238			41,238
Total liabilities		2,527,563			2,463,538			2,498,207			2,493,120			2,386,654
Total shareholders’ equity		267,380			260,943			256,977			250,946			245,452
Accumulated other comprehensive gain		1,796			2,188			1,802			1,857			132
Average loans		1,752,026			1,714,061			1,671,231			1,649,692			1,635,506
Average interest-earning assets		2,561,398			2,559,296			2,552,912			2,511,318			2,405,194
Average total assets		2,771,972			2,737,634			2,737,764			2,693,231			2,603,243
Average deposits		2,424,968			2,395,146			2,399,918			2,357,230			2,274,042
Average total equity	$	265,848		$	260,817		$	254,885		$	249,020		$	243,776
Total risk based capital ratio		14.8	%		14.6	%		14.8	%		14.8	%		14.9	%
Tier 1 capital ratio		13.5	%		13.4	%		13.6	%		13.5	%		13.6	%
Tier 1 leverage ratio		10.5	%		10.4	%		10.2	%		10.2	%		10.4	%
Tangible capital ratio		9.0	%		9.0	%		8.8	%		8.6	%		8.8	%