Capital City Bank Enters Material Definitive Agreement
Ticker: CCBG · Form: 8-K · Filed: Nov 19, 2024 · CIK: 726601
Sentiment: neutral
Topics: material-definitive-agreement, exhibits, financial-statements
Related Tickers: CCBG
TL;DR
CCBG signed a big deal, filing shows financials & exhibits.
AI Summary
Capital City Bank Group, Inc. announced on November 15, 2024, that it entered into a material definitive agreement. The filing also includes financial statements and exhibits related to this agreement. The company is incorporated in Florida and headquartered in Tallahassee.
Why It Matters
This filing indicates a significant new contract or partnership for Capital City Bank Group, Inc., which could impact its future financial performance and strategic direction.
Risk Assessment
Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities that are not yet fully understood.
Key Players & Entities
- Capital City Bank Group, Inc. (company) — Registrant
- November 15, 2024 (date) — Date of earliest event reported
- 217 North Monroe Street, Tallahassee, Florida 32301 (location) — Principal executive offices
- Florida (location) — State of incorporation
FAQ
What is the nature of the material definitive agreement entered into by Capital City Bank Group, Inc.?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into on November 15, 2024.
When was the material definitive agreement entered into?
The material definitive agreement was entered into on November 15, 2024.
What are the principal executive offices of Capital City Bank Group, Inc.?
The principal executive offices are located at 217 North Monroe Street, Tallahassee, Florida 32301.
In which state is Capital City Bank Group, Inc. incorporated?
Capital City Bank Group, Inc. is incorporated in Florida.
What other information is included with the Form 8-K filing?
The filing includes financial statements and exhibits related to the material definitive agreement.
Filing Stats: 739 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-11-19 16:05:27
Key Financial Figures
- $0.01 — ch registered Common Stock, Par value $0.01 CCBG Nasdaq Stock Market, LLC Indic
Filing Documents
- i24448_ccbg-8k.htm (8-K) — 28KB
- i24448_ex10-1.htm (EX-10.1) — 11KB
- logo.jpg (GRAPHIC) — 3KB
- 0001171200-24-000335.txt ( ) — 217KB
- ccbg-20241115.xsd (EX-101.SCH) — 3KB
- ccbg-20241115_lab.xml (EX-101.LAB) — 33KB
- ccbg-20241115_pre.xml (EX-101.PRE) — 22KB
- i24448_ccbg-8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On November 15, 2024, Capital City Bank (the "Bank"), a wholly owned subsidiary of Capital City Bank Group, Inc. (the "Company"), entered into that certain Assignment of Membership Interests (the "Assignment") with BMGBMG, LLC ("BMG"). Pursuant to the Assignment, on January 1, 2025, BMG will transfer 49% of the issued and outstanding membership interests in Capital City Home Loans, LLC ("CCHL") to the Bank (the "Transfer"). The Bank currently owns 51% of the issued and outstanding membership interests in CCHL, and the Company has treated CCHL as a consolidated subsidiary since the Bank acquired those interests in 2020. BMG initiated the Transfer by exercising a put option in CCHL's operating agreement. The Bank will pay a purchase price in connection with the Transfer determined in accordance with the terms of CCHL's operating agreement, but the amount of the purchase price has not yet been determined because it is based, in part, on the capital account balances of CCHL's members as of December 31, 2024. CCHL is a mortgage banking business with 27 offices in the Southeast. The Bank provides residential real estate lending products through CCHL to help meet the home financing needs of consumers, including conventional permanent and construction/permanent (fixed, adjustable, or variable rate) financing arrangements and loans under programs offered by the Federal Housing Authority, the U.S. Department of Veterans Affairs and the Government National Mortgage Association. Additional information on CCHL's operations is provided in the Company's SEC filings. The foregoing description of the Assignment does not purport to be complete and is qualified in its entirety by reference to the full text of the Assignment, a copy of which is attached as Exhibit 10.1 and is incorporated by reference herein.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Item No. Description of Exhibit 10.1 Assignment of Membership Interests, dated as of November 15, 2024, by and between Capital City Bank and BMGBMG, LLC. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CAPITAL CITY BANK GROUP, INC. Date: November 19, 2024 By: /s/ Jeptha E. Larkin Jeptha E. Larkin, Executive Vice President and Chief Financial Officer EXHIBIT INDEX Exhibit Number Description 10.1 Assignment of Membership Interests, dated as of November 15, 2024, by and between Capital City Bank and BMGBMG, LLC 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)