Capital City Bank Group Q3 2024 Update

TL;DR

CCBG Q3 results in: Retained earnings up, some adjustments to LLC interests. Solid.

AI Summary

Capital City Bank Group Inc. reported its Q3 results for the period ending September 30, 2024. The company's financial statements include details on retained earnings, accumulated net unrealized investment gains/losses, and additional paid-in capital. An adjustment was made to the redemption value for a non-controlling interest in Capital City Home Loans, LLC.

Why It Matters

This filing provides insight into the financial health and operational adjustments of Capital City Bank Group, impacting investors and stakeholders.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative events.

Key Numbers

• $169,502,222 — Retained Earnings (As of September 30, 2024)
• $169,443,700 — Additional Paid-In Capital (As of September 30, 2024)
• $90,000,000 — Commitments to Extend Credit (As of September 30, 2024)

Key Players & Entities

• Capital City Bank Group Inc. (company) — Filer of the 10-Q
• Capital City Home Loans, LLC (company) — Subsidiary with an adjustment to redemption value
• 20240930 (date) — End of the reporting period
• 20241104 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, Par value $0.01 CCBG Nasdaq Stock Market , LLC Indi

Filing Documents

• ccbg-20240930.htm (10-Q) — 3591KB
• exhibit311.htm (EX-31.1) — 11KB
• exhibit312.htm (EX-31.2) — 11KB
• exhibit321.htm (EX-32.1) — 5KB
• exhibit322.htm (EX-32.2) — 5KB
• 0000726601-24-000040.txt ( ) — 17064KB
• ccbg-20240930.xsd (EX-101.SCH) — 63KB
• ccbg-20240930_cal.xml (EX-101.CAL) — 100KB
• ccbg-20240930_def.xml (EX-101.DEF) — 385KB
• ccbg-20240930_lab.xml (EX-101.LAB) — 778KB
• ccbg-20240930_pre.xml (EX-101.PRE) — 560KB
• ccbg-20240930_htm.xml (XML) — 4632KB

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 3. Quantitative and Qualitative Disclosure About Market Risk 49 Item 4.

Controls and Procedures

Controls and Procedures 49 PART II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 50 Item 1A.

Risk Factors

Risk Factors 50 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 50 Item 3. Defaults Upon Senior Securities 50 Item 4. Mine Safety Disclosure 50 Item 5. Other Information 50 Item 6. Exhibits 51

Signatures

Signatures 52 3 INTRODUCTORY NOTE Caution Concerning Forward-Looking Statements This Quarterly Report on Form 10-Q contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements about our beliefs, plans, objectives, goals, expectations, estimates and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. The words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "target," "vision," "goal," and similar expressions are intended to identify forward-looking statements. All forward-looking statements, by their nature, are subject to risks and uncertainties. Our actual future results may differ materially from those set forth in our forward-looking statements. Our ability to achieve our financial objectives could be adversely affected by the factors discussed in detail in Part II, Item 1A. "Risk Factors" in this Quarterly Report on Form 10-Q and in Part I, Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023, as amended (the "2023 Form 10-K"), as updated in our subsequent quarterly reports filed on Form 10-Q, as well as, among other factors: our ability to successfully manage credit risk, interest rate risk, liquidity risk, and other risks inherent to our industry; the effects of changes in the level of checking or savings account deposits and the competition for deposits on our funding costs, net interest margin and ability to replace maturing deposits and advances; legislative or regulatory changes; adverse developments in the financial services industry generally; inflation, interest rate, market and monetary fluctuations; uncertainty in the pricing of residential mortgage loans that we sell, a

Risk Factors

Item 1A Risk Factors or discussed in this Form 10-Q also could adversely affect our results, and you should not consider any such list of factors to be a complete set of all potential risks or uncertainties. Any forward-looking We do not undertake to update any forward-looking 4 PART I. FINANCIAL INFORMATION Item 1. CAPITAL CITY BANK GROUP, INC. CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) September 30, December 31, (Dollars in Thousands, Except Par Value) 2024 2023 ASSETS Cash and Due From Banks $ 83,431 $ 83,118 Federal Funds Sold and Interest Bearing Deposits 261,779 228,949 Total Cash and Cash Equivalents 345,210 312,067 Investment Securities, Available for Sale, at fair value (amortized cost of $ 356,994 and $ 367,747 ) 336,187 337,902 Investment Securities, Held to Maturity (fair value of $ 542,328 and $ 591,751 ) 561,480 625,022 Equity Securities 6,976 3,450 Total Investment Securities 904,643 966,374 Loans Held For Sale, at fair value 31,251 28,211 Loans Held for Investment 2,683,096 2,733,918 Allowance for Credit Losses ( 29,836 ) ( 29,941 ) Loans Held for Investment, Net 2,653,260 2,703,977 Premises and Equipment, Net 81,876 81,266 Goodwill and Other Intangibles 92,813 92,933 Other Real Estate Owned 650 1 Other Assets 115,613 119,648 Total Assets $ 4,225,316 $ 4,304,477 LIABILITIES Deposits: Noninterest Bearing Deposits $ 1,330,715 $ 1,377,934 Interest Bearing Deposits 2,248,362 2,323,888 Total Deposits 3,579,077 3,701,822 Short-Term Borrowings 37,268 35,341 Subordinated Notes Payable 52,887 52,887 Other Long-Term Borrowings 794 315 Other Liabilities 71,974 66,080 Total Liabilities 3,742,000 3,856,445 Temporary Equity 6,817 7,407 SHAREOWNERS' EQUITY Preferred

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS NOTE 1 – BUSINESS AND BASIS OF PRESENTATION Nature of Operations . Capital City Bank Group, Inc. ("CCBG" or the "Company") provides a full range of banking and banking- related services to individual and corporate clients through its wholly owned subsidiary, Capital City Bank ("CCB" or the "Bank"), with banking offices located in Florida, Georgia, and Alabama. The Company is subject to competition from other financial institutions, is subject to regulation by certain government agencies and undergoes periodic examinations by those regulatory authorities. Basis of Presentation . The consolidated financial statements in this Quarterly Report on Form 10-Q include the accounts of CCBG and CCB. All material inter-company transactions and accounts have been eliminated. Certain previously reported amounts have been reclassified to conform to the current year's presentation. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The Consolidated Statement of Financial Condition at December 31, 2023 has been derived from the audited consolidated financial required by generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and notes thereto included in the Company's 2023 Form 10-K, as amended. Accounting Standards Updates Proposed Accounting Standards , A

View Full Filing

View this 10-Q filing on SEC EDGAR