•Net income was $29.0 million or $0.88 per diluted share as compared to $29.1 million or $0.88 per diluted share in the trailing quarter

•Net interest margin (FTE) was 3.76% in the recent quarter, an increase of 5 basis points over 3.71% in the trailing quarter; net interest income (FTE) was $84.4 million, and increase of $1.5 million over the trailing quarter

•Loan balances increased $84.6 million or 5.1% (annualized) from the trailing quarter and decreased $25.9 million or 0.4% from the same quarter of the prior year

•Deposit balances increased $50.5 million or 2.5% (annualized) from the trailing quarter and increased $253.5 million or 3.2% from the same quarter of the prior year

•Average yield on earning assets was 5.22%, a decrease of 4 basis points over the 5.26% in the trailing quarter; average yield on loans was 5.78%, a decrease of 5 basis points over the 5.83% in the trailing quarter

•Non-interest bearing deposits averaged 31.8% of total deposits during the quarter

•The average cost of total deposits was 1.46%, a decrease of 6 basis points as compared to 1.52% in the trailing quarter, and an increase of 41 basis points from 1.05% in the same quarter of the prior year

•For the quarter ended December 31, 2024, the Company’s return on average assets was 1.19%, while the return on average equity was 9.30%; for the trailing quarter ended September 30, 2024, the Company’s return on average assets was 1.20%, while the return on average equity was 9.52%

•Diluted earnings per share were $0.88 for the fourth quarter of 2024, compared to $0.88 for the trailing quarter and $0.78 during the fourth quarter of 2023

•The loan to deposit ratio increased to 83.7% as of December 31, 2024, as compared to 83.2% for the trailing quarter end, as a result of loan growth outpacing deposit growth during the quarter

•The efficiency ratio was 59.56% for the quarter ended December 31, 2024, as compared to 60.02% for the trailing quarter

•The provision for credit losses was approximately $1.7 million during the quarter ended December 31, 2024, as compared to $0.2 million during the trailing quarter end, and was necessitated by the $84.6 million in loan growth during the quarter

•The allowance for credit losses (ACL) to total loans was 1.85% as of December 31, 2024, compared to 1.85% as of the trailing quarter end, and 1.79% as of December 31, 2023. Non-performing assets to total assets were 0.48% on December 31, 2024, as compared to 0.45% as of September 30, 2024, and 0.35% at December 31, 2023. At December 31, 2024, the ACL represented 284% of non-performing loans

Total loans outstanding were $6.8 billion as of December 31, 2024, a decrease of $25.9 million or 0.4% over December 31, 2023, but an increase of $84.6 million or 5.1% annualized as compared to the trailing quarter ended September 30, 2024. Investments decreased by $79.9 million and $269.3 million for the three and twelve month periods ended December 31, 2024, respectively, and ended the quarter with a balance of $2.04 billion or 21.1% of total assets. Quarterly average earning assets to quarterly total average assets was 91.8% on December 31, 2024, compared to 91.6% at December 31, 2023. The loan-to-deposit ratio was 83.7% on December 31, 2024, as compared to 86.7% at December 31, 2023. The Company did not utilize brokered deposits during 2024 or 2023 and continues to rely on organic deposit customers and short-term borrowings to fund cash flow timing differences.

Total shareholders' equity decreased by $18.1 million during the quarter ended December 31, 2024, as net income of $29.0 million was partially offset by a $35.5 million increase in accumulated other comprehensive losses and cash dividend payments on common stock of approximately $10.9 million. As a result, the Company’s book value declined to $37.03 per share at December 31, 2024, compared to $37.55 at September 30, 2024. The Company’s tangible book value per share, a non-GAAP measure, calculated by subtracting goodwill and other intangible assets from total shareholders’ equity and dividing that sum by total shares outstanding, was $27.60 per share at December 31, 2024, as compared to $28.09 at September 30, 2024. Changes in the fair value of available-for-sale investment securities, net of deferred taxes, continue to create moderate levels of volatility in tangible book value per share.

Loans outstanding increased by $84.6 million or 5.1% on an annualized basis during the quarter ended December 31, 2024. During the quarter, loan originations/draws totaled approximately $487.9 million while payoffs/repayments of loans totaled $408.5 million, which compares to originations/draws and payoffs/repayments during the trailing quarter ended of $351.1 million and $418.8 million, respectively. Origination volume was elevated relative to the comparative period in 2023 due in large part to a dip in benchmark interest rates leading to increased borrower demand. The activity within loan payoffs/repayments remains spread amongst numerous borrowers, regions and loan types.

Investment security balances decreased $79.9 million or 15.1% on an annualized basis during the quarter as a result of net decreases in the market value of securities of $53.1 million and net prepayments and maturities, collectively totaling approximating $91.0 million, offset partially by purchases totaling $64.8 million. There were no investment securities sold during the quarter. Investment security purchases were comprised of fixed rate agency mortgage backed securities and fixed rate agency collateralized mortgage obligations. While management intends to primarily utilize cash flows from the investment security portfolio and organic deposit growth to support loan growth, excess liquidity will be utilized for purchases of investment securities to support net interest income growth and net interest margin expansion.

Deposit balances increased by $50.5 million or 2.5% annualized during the period, primarily due to increases in interest-bearing demand deposits and time certificates, partially offset by decreases in savings deposits.

On December 31, 2024, the Company's primary sources of liquidity represented 51% of total deposits and 160% of estimated total uninsured (excluding collateralized municipal deposits and intercompany balances) deposits, respectively. As secondary sources of liquidity, the Company's held-to-maturity investment securities had a fair value of $104.3 million, including approximately $7.5 million in net unrealized losses.

The Company's yield on total loans increased 14 basis points to 5.78% for the three months ended December 31, 2024, from 5.64% for the three months ended December 31, 2023. The tax equivalent yield on the Company's investment security portfolio was 3.38% for the quarter ended December 31, 2024, a decrease of 9 basis points from the 3.47% for the three months ended December 31, 2023. The cost of total interest-bearing deposits and total interest-bearing liabilities increased by 53 basis points and 26 basis points, respectively, between the three-month periods ended December 31, 2024 and 2023. In September 2024, the FOMC began reducing short term rates and through December 2024 there were three rate cuts totaling 100 basis points. Net interest income and net interest margin increased in both the third and fourth quarters of 2024. More specifically, the fully tax-equivalent net interest income and net interest margin was $82.3 million and 3.68%, respectively for the quarter ended June 30, 2024, and was $84.4 million and 3.76%, respectively for the quarter ended December 31, 2024.

The Company continues to manage its cost of deposits through the use of various pricing and product mix strategies. As of December 31, 2024 and December 31, 2023, deposits priced utilizing these strategies totaled $1.05 billion and $1.3 billion and carried weighted average rates of 3.59% and 3.60%, respectively.

(1)Certain information included herein is presented on a fully tax-equivalent (FTE) basis and / or to present additional financial details which may be desired by users of this financial information. The Company believes the use of these non-generally accepted accounting principles (non-GAAP) measures provide additional clarity in assessing its results, and the presentation of these measures are common practice within the banking industry. See additional information related to non-GAAP measures at the back of this document.

(1)Fully taxable equivalent (FTE). All yields and rates are calculated using specific day counts for the period and year as applicable.

(2)Net interest spread is the average yield earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(3)Net interest margin is computed by calculating the difference between interest income and interest expense, divided by the average balance of interest-earning assets.

Net interest income (FTE) during the three months ended December 31, 2024, increased $1.5 million or 1.8% to $84.4 million compared to $82.9 million during the three months ended September 30, 2024. Net interest margin totaled 3.76% for the three months ended December 31, 2024, an increase of 5 basis points from the trailing quarter. The increase in net interest income is primarily attributed to a $1.1 million decline in interest expense on other borrowings due to a $80.1 million decrease in the average balance of borrowings and a $0.8 million decrease in interest expense on deposits from an improved product rate mix, during the three months ended December 31, 2024 as compared to the trailing quarter. This decline in interest expense was partially offset by a decrease in total interest income from earning assets totaling $0.5 million, primarily related to a decline in yields on loans and declines in the average balance of investments totaling $42.0 million, as compared to the trailing quarter.

As compared to the same quarter in the prior year, average loan yields increased 14 basis points from 5.64% during the three months ended December 31, 2023, to 5.78% during the three months ended December 31, 2024. The accretion of discounts from acquired loans added 6 basis points and 9 basis points to loan yields during the quarters ended December 31, 2024 and December 31, 2023, respectively. The cost of interest-bearing deposits increased by 53 basis points between the quarter ended December 31, 2024, and the same quarter of the prior year. In addition, the average balance of noninterest-bearing deposits decreased by $231.2 million from the three-month average for the period ended December 31, 2023 amidst a continued migration of customer funds to interest-bearing products.

For the quarter ended December 31, 2024, the ratio of average total noninterest-bearing deposits to total average deposits was 31.8%, as compared to 31.7% and 35.2% for the quarters ended September 30, 2024 and December 31, 2023, respectively.

(1)Fully taxable equivalent (FTE). All yields and rates are calculated using specific day counts for the period and year as applicable.

(2)Net interest spread is the average yield earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(3)Net interest margin is computed by calculating the difference between interest income and interest expense, divided by the average balance of interest-earning assets.

As of December 31, 2024, the Company's loan portfolio consisted of approximately $6.8 billion in outstanding principal with a weighted average coupon rate of 5.47%. During the three-month periods ending December 31, 2024, September 30, 2024, and December 31, 2023, the weighted average coupon on loan production in the quarter was 6.94%, 7.63% and 7.31%, respectively. Included in the December 31, 2024, total loans are adjustable rate loans totaling $4.3 billion, of which, $907.1 million are considered floating based on the Wall Street Prime index. In addition, the Company holds certain investment securities with fair values totaling $355.4 million which are subject to repricing on not less than a quarterly basis.

During the three months ended December 31, 2024, the Company recorded a provision for credit losses of $1.7 million, as compared to $0.2 million during the trailing quarter, and $6.0 million during the fourth quarter of 2023.

The provision for credit losses on loans of $1.8 million during the current quarter resulted from net charge-offs approximating $0.2 million and increases in general reserves, for both qualitative and quantitative factors, as a result of loan growth and, to a lesser extent, changes in loan risk grades. Changes in specific reserves on individually evaluated credits were not meaningful during the quarter.

The allowance for credit losses (ACL) was $125.4 million or 1.85% of total loans as of December 31, 2024. The Company utilizes a forecast period of approximately eight quarters and obtains the forecast data from publicly available sources as of the balance sheet date. This forecast data continues to evolve and includes improving shifts in the magnitude of changes for both the unemployment and GDP factors leading up to the balance sheet date. Core inflation is slowing but prices remain elevated relative to wage increases, as reflected by higher living costs such as housing, energy and general services. Actions by the Federal Reserve to cut rates during 2024 and beyond may help improve this outlook overall, but the uncertainty associated with the extent and timing of these potential reductions has inhibited a material change to forecasted reserve levels. Furthermore, geopolitical risks remain elevated, which may lead to further negative effects on domestic economic outcomes. As a result, management continues to believe that certain credit weaknesses are present in the overall economy and that it is appropriate to maintain a reserve level that incorporates such risk factors.

Loans past due 30 days or more decreased by $5.2 million during the quarter ended December 31, 2024, to $32.7 million, as compared to $37.9 million at September 30, 2024. The majority of loans identified as past due are well-secured by collateral, and approximately $13.1 million is less than 90 days delinquent. Non-performing loans were $44.1 million at December 31, 2024, an increase of $2.5 million from $41.6 million as of September 30, 2024, and an increase of $12.2 million from $31.9 million as of December 31, 2023. Management continues to proactively work with these borrowers to identify actionable and appropriate resolution strategies which are customary for the industries. Of the $44.1 million loans designated as non-performing as of December 31, 2024, approximately $13.2 million are current or less than 30 days past due with respect to payments required under their existing loan agreements.

The ratio of classified loans to total loans of 1.74% as of December 31, 2024, increased 3 basis points from September 30, 2024, and increased 45 basis points from the comparative quarter ended 2023. The change in classified loans outstanding as compared to the trailing quarter totaled $6.5 million. Loans with the risk grade classification substandard increased by $0.3 million over the trailing quarter without any material changes in the mix of underlying collateral type. As a percentage of total loans outstanding, classified assets remain consistent with volumes experienced prior to the recent quantitative easing cycle spurred by the COVID pandemic and reflect management's historically conservative approach to credit risk monitoring. The Company's combined criticized loan balances totaled $229.0 million as of December 31, 2024, an increase of $37.7 million from December 31, 2023.

Management continues to proactively assess the repayment capacity of borrowers that will be subject to rate resets in the near term. To date this analysis as well as management's observations of loans that have experienced a rate reset, have resulted in an insignificant need to provide concessions to borrowers.

As of December 31, 2024, other real estate owned consisted of 10 properties with a carrying value of approximately $2.8 million, compared to 10 properties with a carrying value of approximately $2.8 million as of September 30, 2024. Non-performing assets of $46.9 million at December 31, 2024, represented 0.48% of total assets, a change from the $44.4 million or 0.45% and $34.6 million or 0.35% as of September 30, 2024 and December 31, 2023, respectively.

In addition to the allowance for credit losses above, the Company has acquired various performing loans whose fair value as of the acquisition date was determined to be less than the principal balance owed on those loans. This difference represents the collective discount of credit, interest rate and liquidity measurements which is expected to be amortized over the life of the loans. As of December 31, 2024, the unamortized discount associated with acquired loans totaled $20.3 million, which, when combined with the total allowance for credit losses above, represents 2.24% of total loans.

Total non-interest income decreased $0.2 million or 1.3% to $16.3 million during the three months ended December 31, 2024, compared to $16.5 million during the quarter ended September 30, 2024. Net gain (loss) from the change in value of equity securities declined by $0.4 million as compared to the prior quarter, largely the result of $0.3 million in non-recurring benefit earned in the trailing quarter from the valuation change in Visa equity securities. The remaining components of non-interest income are largely consistent period over period.

Non-interest income increased $0.2 million or 1.5% to $16.3 million during the three months ended December 31, 2024, compared to $16.0 million during the comparative quarter ended December 31, 2023. Elevated activity and volumes of assets under management drove an increase in asset management and commission income totaling $0.3 million or 23.4%.

Non-interest income increased $3.0 million or 4.9% to $64.4 million during the twelve months ended December 31, 2024, compared to $61.4 million during the comparative twelve months ended December 31, 2023. ATM and interchange fees declined in the 2024 period and resulted in a decrease of $1.1 million as compared to the twelve months ended December 31, 2024. Meanwhile, service charges on deposit accounts and other service fees increased by $1.9 million and $0.6 million, respectively, as compared to the equivalent period in 2023 following $0.9 million in waived or reversed fees as a courtesy to customers in the prior year. As noted above, elevated activity within asset management and the increases in value of Visa equity securities further contributed to the overall improvement in income during the year ended 2024.

Total non-interest expense for the quarter ended December 31, 2024, increased $0.3 million or 0.5% to $59.8 million as compared to $59.5 million during the trailing quarter ended September 30, 2024. Total salaries and benefits expense, the largest non-interest expense component, decreased nominally by $0.2 million or 0.6% as estimates associated with retirement benefits were reduced by $513,000 in the quarter. Other miscellaneous expenses increased by $0.6 million or 13.8% due to several factors, including increased business travel and elevated expenses on real estate owned.

Total non-interest expense decreased $0.5 million or 0.8% to $59.8 million during the three months ended December 31, 2024, as compared to $60.3 million for the quarter ended December 31, 2023. Total salaries and benefits expense increased by $1.3 million or 3.7%, reflecting the increase of $0.7 million in salaries, largely the result of routine merit increases and more recently strategic hiring focused on loan and deposit production; incentive compensation costs also increased by $0.7 million, reflecting changes in the design of those plans.

Total non-interest expense increased $0.9 million or 0.4% to $234.1 million during the twelve months ended December 31, 2024, as compared to $233.2 million for the twelve months ended December 31, 2023. This was largely attributed to an increase of $4.8 million or 3.5% in total salaries and benefits expense to $140.6 million, from routine compensation adjustments and other increases in benefits and compensation. As noted above, salaries expense was also impacted by an increase in average compensation per employee as various strategic talent acquisitions were made in order to further prepare the Company to execute its growth objectives beyond $10 billion in total assets. Additionally, data processing and software expenses increased by $2.0 million or 10.7% related to ongoing investments in the Company's data management and security infrastructure. These increases were partially offset by declines in non-cash intangible amortization expense of $2.0 million or 32.7% and reductions in operational losses of $0.8 million or 31.2% due to non-recurring ATM burglary expenses totaling $0.7 million in the comparative period.

The Company’s effective tax rate was 25.3% for the quarter ended December 31, 2024, as compared to 26.3% for the quarter ended September 30, 2024, and 25.9% for the year ended December 31, 2024, compared to 28.4% for the year ended December 31, 2023. Differences between the Company's effective tax rate and applicable federal and state blended statutory rate of approximately 29.6% are due to the proportion of non-taxable revenues, non-deductible expenses, and benefits from tax credits as compared to the levels of pre-tax earnings.

Peter G. Wiese, EVP & CFO, (530) 898-0300

About TriCo Bancshares

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 customer Service with Solutions available in traditional stand-alone and in-store bank branches and loan production offices in communities throughout 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 ATMs, online and mobile banking access. Brokerage services are provided by Tri Counties Advisors through affiliation with Raymond James Financial Services, Inc. Visit www.TriCountiesBank.com to learn more.

The statements contained herein that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond our control. We caution readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. These risks and uncertainties include, but are not limited to, the following: the conditions of the United States economy in general and the strength of the local economies in which we conduct operations; the impact of any future federal government shutdown and uncertainty regarding the federal government’s debt limit or changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; the impacts of inflation, interest rate, market and monetary fluctuations on the Company's business condition and financial operating results; the impact of changes in financial services industry policies, laws and regulations; regulatory restrictions affecting our ability to successfully market and price our products to consumers; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learning; extreme weather, natural disasters and other catastrophic events that may or may not be caused by climate change and their effects on the Company's customers and the economic and business environments in which the Company operates; current and future economic and market conditions, including declines in housing and commercial real estate prices, and potentially increased unemployment on the performance of our loan portfolio, the market value of our investment securities and possible other-than-temporary impairment of securities held by us due to changes in credit quality or rates; the availability of, and cost of, sources of funding and the demand for our products; adverse developments with respect to U.S. or global economic conditions and other uncertainties, including the impact of supply chain disruptions, commodities prices, inflationary pressures and labor shortages on the economic recovery and our business; the impacts of international hostilities, wars, terrorism or geopolitical events; adverse developments in the financial services industry generally such as bank failures and any related impact on depositor behavior or investor sentiment; risks related to the sufficiency of liquidity; the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; the costs or effects of mergers, acquisitions or dispositions we may make, as well as whether we are able to obtain any required governmental approvals in connection with any such activities, or identify and complete favorable transactions in the future, and/or realize the anticipated financial and business benefits; the regulatory and financial impacts associated with exceeding $10 billion in total assets; the negative impact on our reputation and profitability in the event customers experience economic harm or in the event that regulatory violations are identified; the ability to execute our business plan in new markets; the future operating or financial performance of the Company, including our outlook for future growth and changes in the level and direction of our nonperforming assets and charge-offs; the appropriateness of the allowance for credit losses, including the assumptions made under our current expected credit losses model; any deterioration in values of California real estate, both residential and commercial; the effectiveness of the Company's asset management activities managing the mix of earning assets and in improving, resolving or liquidating lower-quality assets; the effect of changes in the financial performance and/or condition of our borrowers; changes in accounting standards and practices; changes in consumer spending, borrowing and savings habits; our ability to attract and maintain deposits and other sources of liquidity; the effects of changes in the level or cost of checking or savings account deposits on our funding costs and net interest margin; increasing noninterest expense and its impact on our financial performance; competition and innovation with respect to financial products and services by banks, financial institutions and non-traditional competitors including retail businesses and technology companies; the challenges of attracting, integrating and retaining key employees; the impact of the 2023 cyber security ransomware incident, including the pending litigation, on our operations and reputation; the vulnerability of the Company's operational or security systems or infrastructure, the systems of third-party vendors or other service providers with whom the Company contracts, and the Company's customers to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and data/security breaches and the cost to defend against and respond to such incidents; increased data security risks due to work from home arrangements and email vulnerability; failure to safeguard personal information, and any resulting litigation; the effect of a fall in stock market prices on our brokerage and wealth management businesses; the emergence or continuation of widespread health emergencies or pandemics; the Company’s potential judgments, orders, settlements, penalties, fines and reputational damage resulting from pending or future litigation and regulatory investigations, proceedings and enforcement actions; and our ability to manage the risks involved in the foregoing. There can be no assurance that future developments affecting us will be the same as those anticipated by management. Additional factors that could cause results to differ materially from those described above can be found in our Annual Report on Form 10-K for the year ended December 31, 2023, which has been filed with the Securities and Exchange Commission (the “SEC”) and all subsequent filings with the SEC under Sections 13(a), 13(c), 14, and 15(d) of the Securities Act of 1934, as amended. Such filings are also available in the “Investor Relations” section of our website, https://www.tcbk.com/investor-relations and in other documents we file with the SEC. Annualized, pro forma, projections and estimates are not forecasts and may not reflect actual results. We undertake no obligation (and expressly disclaim any such obligation) to update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

TriCo Bancshares—Condensed Consolidated Financial Data (unaudited)

(dollars in thousands, except per share data)
Balance Sheet Data			December 31, 2024						September 30, 2024						June 30, 2024						March 31, 2024						December 31, 2023
Cash and due from banks			$	144,956					$	320,114					$	206,558					$	82,836					$	98,701
Securities, available for sale, net			1,907,494						1,981,960						1,946,167						2,076,494						2,155,138
Securities, held to maturity, net			111,866						117,259						122,673						127,811						133,494
Restricted equity securities			17,250						17,250						17,250						17,250						17,250
Loans held for sale			709						1,995						474						1,346						458
Loans:
Commercial real estate			4,577,632						4,487,524						4,461,111						4,443,768						4,394,802
Consumer			1,281,059						1,283,963						1,300,727						1,303,757						1,313,268
Commercial and industrial			471,271						484,763						548,625						549,780						586,455
Construction			279,933						276,095						283,374						348,981						347,198
Agriculture production			151,822						144,123						140,239						145,159						144,497
Leases			6,806						7,423						8,450						9,250						8,250
Total loans, gross			6,768,523						6,683,891						6,742,526						6,800,695						6,794,470
Allowance for credit losses			(125,366)						(123,760)						(123,517)						(124,394)						(121,522)
Total loans, net			6,643,157						6,560,131						6,619,009						6,676,301						6,672,948
Premises and equipment			70,287						70,423						70,621						71,001						71,347
Cash value of life insurance			140,149						139,312						138,525						137,695						136,892
Accrued interest receivable			34,810						33,061						35,527						35,783						36,768
Goodwill			304,442						304,442						304,442						304,442						304,442
Other intangible assets			6,432						7,462						8,492						9,522						10,552
Operating leases, right-of-use			23,529						24,716						25,113						26,240						26,133
Other assets			268,647						245,765						246,548						247,046						245,966
Total assets			$	9,673,728					$	9,823,890					$	9,741,399					$	9,813,767					$	9,910,089
Deposits:
Noninterest-bearing demand deposits			$	2,548,613					$	2,547,736					$	2,557,063					$	2,600,448					$	2,722,689
Interest-bearing demand deposits			1,758,629						1,708,726						1,791,466						1,742,875						1,731,814
Savings deposits			2,657,849						2,690,045						2,667,006						2,672,537						2,682,068
Time certificates			1,122,485						1,090,584						1,034,695						971,798						697,467
Total deposits			8,087,576						8,037,091						8,050,230						7,987,658						7,834,038
Accrued interest payable			11,501						11,664						12,018						10,224						8,445
Operating lease liability			25,437						26,668						27,122						28,299						28,261
Other liabilities			137,506						141,521						128,063						131,006						145,982
Other borrowings			89,610						266,767						247,773						392,409						632,582
Junior subordinated debt			101,191						101,164						101,143						101,120						101,099
Total liabilities			8,452,821						8,584,875						8,566,349						8,650,716						8,750,407
Common stock			693,462						693,176						691,878						696,464						697,349
Retained earnings			679,907						662,816						644,687						630,954						615,502
Accumulated other comprehensive loss, net of tax			(152,462)						(116,977)						(161,515)						(164,367)						(153,169)
Total shareholders’ equity			$	1,220,907					$	1,239,015					$	1,175,050					$	1,163,051					$	1,159,682
Quarterly Average Balance Data
Average loans			$	6,720,732					$	6,690,326					$	6,792,303					$	6,785,840					$	6,746,153
Average interest-earning assets			$	8,932,077					$	8,892,223					$	9,001,674					$	9,066,537					$	9,064,483
Average total assets			$	9,725,643					$	9,666,979					$	9,782,228					$	9,855,797					$	9,879,355
Average deposits			$	8,118,663					$	8,020,936					$	8,024,441					$	7,821,044					$	7,990,993
Average borrowings and subordinated debt			$	196,375					$	276,418					$	426,732					$	685,802					$	617,046
Average total equity			$	1,241,522					$	1,214,510					$	1,169,324					$	1,174,592					$	1,097,431
Capital Ratio Data
Total risk-based capital ratio			15.7		%				15.6		%				15.2		%				15.0		%				14.7		%
Tier 1 capital ratio			14.0		%				13.8		%				13.4		%				13.2		%				12.9		%
Tier 1 common equity ratio			13.2		%				13.1		%				12.7		%				12.5		%				12.2		%
Tier 1 leverage ratio			11.7		%				11.6		%				11.2		%				11.0		%				10.7		%
Tangible capital ratio (1)			9.7		%				9.7		%				9.1		%				8.9		%				8.8		%