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About Capital City Bank Group, Inc.
Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest
publicly traded financial holding companies headquartered
in Florida and has approximately $4.3
billion in assets.
We provide
a full range of banking services, including traditional deposit
and credit services, mortgage banking, asset management, trust, merchant
services, bankcards,
securities brokerage services and
financial advisory services, including the sale of life insurance, risk management
and asset protection services.
Our bank
subsidiary, Capital City Bank,
was founded in 1895 and now has 63 banking offices and 104 ATM
s/ITMs in Florida, Georgia and
Alabama.
For more information about Capital City Bank Group, Inc., visit www.ccbg.com
.
FORWARD
-LOOKING STATEMENTS
Forward-looking statements in this Press Release are based on current plans
and expectations that are subject to uncertainties and
risks, which could cause our future results to differ materially.
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. The following factors, among others, could cause our actual
results to differ: our ability to successfully
manage credit risk, interest rate risk, liquidity risk, and other risks inherent
to our industry; legislative or regulatory changes; adverse
developments in the financial services industry generally,
such as bank failures and any related impact on depositor behavior; 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,
as necessary; inflation, interest rate, market and monetary
fluctuations; uncertainty in the pricing of residential mortgage loans
that we sell, as well as competition for the mortgage servicing
rights related to these loans and related interest rate risk or price risk resulting
from retaining mortgage servicing rights and the
potential effects of higher interest rates on our loan origination
volumes; the effects of actions taken by governmental agencies
to
stabilize the recent volatility in the financial system and the effectiveness
of such actions; changes in monetary and fiscal policies of
the U.S. Government; the effects of security breaches and computer
viruses that may affect our computer systems or fraud related
to
debit card products; the accuracy of our financial statement estimates and
assumptions, including the estimates used for our
allowance for credit losses, deferred tax asset valuation and pension plan;
changes in our liquidity position; changes in accounting
principles, policies, practices or guidelines; the frequency and magnitude
of foreclosure of our loans; the effects of our lack of a
diversified loan portfolio, including the risks of loan segments, geographic
and industry concentrations; the strength of the United
States economy in general and the strength of the local economies in which
we conduct operations; our ability to declare and pay
dividends, the payment of which is subject to our capital requirements; changes
in the securities and real estate markets; structural
changes in the markets for origination, sale and servicing of residential mortgages;
our ability to retain key personnel; the effect of
corporate restructuring, acquisitions or dispositions, including the actual
restructuring and other related charges and the failure to
achieve the expected gains, revenue growth or expense savings from such
corporate restructuring, acquisitions or dispositions; the
effects of natural disasters, harsh weather conditions (including
hurricanes), widespread health emergencies (including pandemics,
such as the COVID-19 pandemic), military conflict, terrorism, civil unrest
or other geopolitical events; our ability to comply with the
extensive laws and regulations to which we are subject, including the
laws for each jurisdiction where we operate; the impact of the
restatement of our previously issued consolidated statements of
cash flows for the years ended December 31, 2021 and 2022 and for
the each of the three month periods ended March 31, 2022 and 2023, six month periods
ended June 30, 2022 and 2023 and nine
month periods ended September 30, 2022 and 2023; any inability to implement
and maintain effective internal control over financial
reporting and/or disclosure control or inability to remediate our existing material
weaknesses in our internal controls deemed
ineffective; the willingness of clients to accept third-party
products and services rather than our products and services and vice versa;
increased competition and its effect on pricing; technological changes;
the cost and effects of cybersecurity incidents or other
failures, interruptions, or security breaches of our systems or those of our
customers or third-party providers; the outcomes of
litigation or regulatory proceedings; negative publicity and the impact on our
reputation; changes in consumer spending and saving
habits; growth and profitability of our noninterest income; the limited trading
activity of our common stock; the concentration of
ownership of our common stock; anti-takeover provisions under
federal and state law as well as our Articles of Incorporation and
our Bylaws; other risks described from time to time in our filings with the Securities and
Exchange Commission; and our ability to
manage the risks involved in the foregoing.
Additional factors can be found in our Annual Report on Form 10-K for the fiscal year
ended December 31, 2023, and our other filings with the SEC, which are available
at the SEC’s internet site (http://www.sec.gov).
Forward-looking statements in this Press Release speak only as of the date of the
Press Release, and we assume no obligation to
update forward-looking statements or the reasons why actual results could
differ, except as may be required by
law.