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):
March 11, 2004
TriCo Bancshares
(Exact name of registrant as specified in its charter)
California 0-10661 94-2792841
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(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
incorporation or organization)
63 Constitution Drive, Chico, California 95973
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(530) 898-0300
Item 5: Other Events
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On March 11, 2004 the Board of Directors of TriCo Bancshares (NASDAQ: TCBK),
parent company of Tri Counties Bank, approved a two-for-one stock split of its
common stock to be effective April 9, 2004. The Board also increased the number
of shares to be repurchased under its repurchase plan originally announced on
July 31, 2003. A copy of the press release is attached as Exhibit 99.1 to this
Form 8-K and is incorporated herein by reference.
Item 7(c): Exhibits
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99.1 Press release dated March 11, 2004
SIGNATURES
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: March 11, 2004 By: /s/ Thomas J. Reddish
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Thomas J. Reddish, Executive Vice
President and Chief Financial Officer
(Principal Financial and Accounting
Officer)
INDEX TO EXHIBITS
Exhibit No. Description
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99.1 Press release dated March 11, 2004
TRICO BANCSHARES ANNOUNCES 2-FOR-1 STOCK SPLIT
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PRESS RELEASE Contact: Thomas J. Reddish
Executive Vice President & CFO
FOR IMMEDIATE RELEASE (530) 898-0300
Chico, CA - March 11, 2004. The Board of Directors of TriCo Bancshares
(NASDAQ: TCBK), parent company of Tri Counties Bank, approved a two-for-one
stock split of its common stock at its meeting held on March 11, 2004. The stock
split will be effected in the form of a stock dividend and will entitle each
stockholder of record at the close of business on April 9, 2004 to receive one
additional share for every share of TriCo common stock held on that date. Shares
resulting from the split will be distributed on April 30, 2004. As of March 11,
2004, the Company had 7,817,761 common shares outstanding. This stock dividend
is in addition to the Company's previously declared quarterly cash dividend of
$0.20 per share payable on March 31, 2004 to stockholders of record at the close
of business on March 10, 2004.
Also at its meeting on March 11, 2004, the Board of Directors of TriCo
Bancshares approved an increase in the maximum number of shares to be
repurchased under the Company's stock repurchase plan originally announced on
July 31, 2003 from 250,000 to 500,000 to be effective on April 9, 2004, solely
to conform with the two-for-one stock split noted above. The 250,000 shares
originally authorized for repurchase under this plan represented approximately
3.2% of the Company's approximately 7,852,000 common shares outstanding as of
July 31, 2003. This plan has no stated expiration date for the repurchases,
which may occur from time to time as market conditions allow. As of March 11,
2004, the Company had purchased 111,300 shares under this plan which will leave
277,400 shares available for repurchase under the plan on April 9, 2004,
assuming (i) application of the stock split to shares already repurchased under
the plan and (ii) no additional shares are repurchased prior to April 9, 2004.
TriCo Bancshares and Tri Counties Bank are headquartered in Chico,
California. Tri Counties Bank has a 28-year history in the banking industry. As
of December 31, 2003, Tri Counties Bank has over $1.46 billion in assets, and
operates 33 traditional branch locations and 12 in-store branch locations in 21
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 56 ATMs and a 24-hour, seven days a week telephone customer service
center. Brokerage services are provided at the Bank's offices by the Bank's
association with Raymond James Financial, Inc. For further information please
visit the Tri Counties Bank web-site at http://www.tricountiesbank.com.