Annual report pursuant to Section 13 and 15(d)

RESTATED QUARTERLY CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.24.0.1
RESTATED QUARTERLY CONSOLIDATED STATEMENTS OF CASH FLOWS
12 Months Ended
Dec. 31, 2023
Restated Quarterly Consolidated Statements of Cash Flows [Abstract]  
Restated Quarterly Consolidated Statements of Cash Flows
Note 24
RESTATED
 
QUARTERLY
 
CONSOLIDATED STATEMENTS
 
OF CASH FLOWS (UNAUDITED)
As further described in Note 1, the Impacted Statements of Cash Flows for 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 have
been restated and are reflected in the tables that follow.
 
See “Restatement of Previously Issued Consolidated Financial
Statements” in Note 1. The unaudited interim Consolidated Statements of Cash Flows reflect
 
all adjustments that are, in the
opinion of management, necessary for a fair statement of the cash flows for the interim
 
periods presented. Restated amounts are
computed independently for each quarter presented; therefore, the sum of the quarterly
 
amounts may not equal the total amount
for the respective year due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF CASH FLOWS (Unaudited)
As Restated
(Dollars in Thousands)
For Three
Months
Ended
 
Mar 31, 2022
For Six
Months
Ended
 
Jun 30, 2022
For Nine
Months
Ended
 
Sept 30, 2022
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income Attributable to Common Shareowners
$
6,938
$
14,198
$
23,803
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
32
1,724
3,878
 
Depreciation
1,907
3,802
5,689
 
Amortization of Premiums, Discounts, and Fees, net
2,610
5,053
6,618
 
Amortization of Intangible Assets
40
80
120
 
Pension Settlement Charge
209
378
480
 
Originations of Loans Held-for-Sale
(177,933)
(316,372)
(399,041)
 
Proceeds From Sales of Loans Held-for-Sale
188,264
352,830
440,219
 
Mortgage Banking Revenues
(4,055)
(8,912)
(11,807)
 
Net Additions for Capitalized Mortgage Servicing Rights
364
360
570
 
Stock Compensation
245
489
904
 
Net Tax Benefit From Stock-Based
 
Compensation
(19)
(19)
(19)
 
Deferred Income Taxes Benefit
(6,682)
(9,887)
(12,854)
 
Net Change in Operating Leases
(27)
(72)
(83)
 
Net Gain on Sales and Write-Downs of Other Real Estate Owned
-
(26)
(136)
 
Net Decrease in Other Assets
1,897
3,516
3,696
 
Net Increase in Other Liabilities
7,036
22,040
12,839
Net Cash Provided By Operating Activities
20,826
69,182
74,876
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Purchases
(194,448)
(218,548)
(219,865)
 
Payments, Maturities, and Calls
14,441
28,111
40,096
Securities Available for
 
Sale:
 
Purchases
(25,139)
(37,044)
(41,880)
 
Proceeds from Sale of Securities
3,365
3,365
3,365
 
Payments, Maturities, and Calls
24,824
47,413
64,301
Purchase of loans held for investment
(381)
(15,985)
(16,324)
Net Increase in Loans Held for Investment
(57,592)
(289,707)
(426,273)
Proceeds From Sales of Other Real Estate Owned
-
30
1,683
Purchases of Premises and Equipment, net
(1,013)
(3,322)
(4,013)
Noncontrolling interest contributions received
1,838
2,573
2,867
Net Cash Used In Investing Activities
(234,105)
(483,114)
(596,043)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Increase in Deposits
52,645
73,396
46,516
Net (Decrease) Increase in Other Short-Term
 
Borrowings
(3,692)
4,784
17,592
Repayment of Other Long-Term
 
Borrowings
(78)
(150)
(200)
Dividends Paid
(2,712)
(5,424)
(8,307)
Issuance of Common Stock Under Compensation Plans
190
496
577
Net Cash Provided By Financing Activities
46,353
73,102
56,178
NET DECREASE IN CASH AND CASH EQUIVALENTS
(166,926)
(340,830)
(464,989)
Cash and Cash Equivalents at Beginning of Period
 
1,035,354
1,035,354
1,035,354
Cash and Cash Equivalents at End of Period
 
$
868,428
$
694,524
$
570,365
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
715
$
1,617
$
3,588
 
Income Taxes Paid
$
20
$
3,765
$
6,410
Noncash Investing and Financing Activities:
 
Loans and Premises Transferred to Other Real Estate Owned
$
-
$
77
$
1,543
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF CASH FLOWS (Unaudited)
As Restated
(Dollars in Thousands)
For Three
Months
Ended
 
Mar 31, 2023
For Six
Months
Ended
 
Jun 30, 2023
For Nine
Months
Ended
 
Sept 30, 2023
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income Attributable to Common Shareowners
$
13,709
$
27,883
$
40,539
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
3,099
5,296
7,689
 
Depreciation
1,969
3,927
5,920
 
Amortization of Premiums, Discounts, and Fees, net
1,067
2,117
3,216
 
Amortization of Intangible Assets
40
80
120
 
Pension Settlement Charge
-
(291)
(291)
 
Originations of Loans Held-for-Sale
(62,745)
(164,173)
(246,198)
 
Proceeds From Sales of Loans Held-for-Sale
64,050
152,657
247,166
 
Mortgage Banking Revenues
(2,871)
(6,234)
(8,072)
 
Net Additions for Capitalized Mortgage Servicing Rights
(91)
(253)
(392)
 
Stock Compensation
536
764
1,110
 
Deferred Income Taxes Benefit
(1,170)
(2,849)
(2,464)
 
Net Change in Operating Leases
(3)
(3)
(12)
 
Net Gain on Sales and Write-Downs of Other Real Estate Owned
(1,858)
(1,900)
(1,915)
 
Net (Increase) Decrease in Other Assets
(4,349)
4,593
8,207
 
Net Increase in Other Liabilities
12,471
3,815
1,069
Net Cash Provided By Operating Activities
23,854
25,429
55,692
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Payments, Maturities, and Calls
8,820
18,992
28,159
Securities Available for
 
Sale:
 
Purchases
(2,017)
(4,634)
(9,399)
 
Proceeds from Sale of Securities
-
-
30,420
 
Payments, Maturities, and Calls
16,559
32,490
53,045
Purchase of loans held for investment
(923)
(1,463)
(2,249)
Net Increase in Loans Held for Investment
(110,477)
(138,244)
(161,006)
Proceeds From Sales of Other Real Estate Owned
2,699
3,772
3,840
Purchases of Premises and Equipment, net
(1,886)
(3,851)
(5,459)
Net Cash Used In Investing Activities
(87,225)
(92,938)
(62,649)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Decrease in Deposits
(115,397)
(150,451)
(398,872)
Net Decrease in Other Short-Term
 
Borrowings
(30,161)
(6,120)
(15,097)
Repayment of Other Long-Term
 
Borrowings
(50)
(99)
(149)
Dividends Paid
(3,064)
(6,121)
(9,518)
Payments to Repurchase Common Stock
(819)
(2,022)
(3,121)
Issuance of Common Stock Under Compensation Plans
164
480
562
Net Cash Provided By Financing Activities
(149,327)
(164,333)
(426,195)
NET DECREASE IN CASH AND CASH EQUIVALENTS
(212,698)
(231,842)
(433,152)
Cash and Cash Equivalents at Beginning of Period
 
600,650
600,650
600,650
Cash and Cash Equivalents at End of Period
 
$
387,952
$
368,808
$
167,498
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
3,723
$
8,720
$
15,026
 
Income Taxes Paid
$
7,466
$
3,860
$
7,395
Noncash Investing and Financing Activities:
 
Loans and Premises Transferred to Other Real Estate Owned
$
423
$
1,442
$
1,495
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CASH FLOWS (Unaudited)
For the Three Months Ended March 31, 2022
(Dollars in Thousands)
As Previously
Reported
Restatement
Impact
As Restated
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income
 
$
6,938
$
-
$
6,938
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
32
-
32
 
Depreciation
1,907
-
1,907
 
Amortization of Premiums, Discounts, and Fees, net
2,610
-
2,610
 
Amortization of Intangible Assets
40
-
40
 
Pension Settlement Charges
209
-
209
 
Originations of Loans Held for Sale
(242,253)
64,320
(177,933)
 
Proceeds From Sales of Loans Held for Sale
252,584
(64,320)
188,264
 
Mortgage Banking Revenues
(4,055)
-
(4,055)
 
Net Additions for Capitalized Mortgage Servicing Rights
364
-
364
 
Stock Compensation
245
-
245
 
Net Tax Benefit from
 
Stock Compensation
(19)
-
(19)
 
Deferred Income Taxes Benefit
(6,682)
-
(6,682)
 
Net Change in Operating Leases
(27)
-
(27)
 
Net Decrease in Other Assets
1,897
-
1,897
 
Net Increase in Other Liabilities
7,036
-
7,036
Net Cash Provided By Operating Activities
20,826
-
20,826
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Purchases
(194,448)
-
(194,448)
 
Payments, Maturities, and Calls
14,441
-
14,441
Securities Available for
 
Sale:
 
Purchases
(25,139)
-
(25,139)
 
Proceeds from the Sale of Securities
3,365
-
3,365
 
Payments, Maturities, and Calls
24,824
-
24,824
Purchases of Loans Held for Investment
(26,713)
26,332
(381)
Net Decrease in Loans Held for Investment
(31,260)
(26,332)
(57,592)
Purchases of Premises and Equipment, net
(1,013)
-
(1,013)
Noncontrolling Interest Contributions
1,838
-
1,838
Net Cash Used In Investing Activities
(234,105)
-
(234,105)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Increase in Deposits
52,645
-
52,645
Net Decrease in Other Short-Term
 
Borrowings
(3,692)
-
(3,692)
Repayment of Other Long-Term
 
Borrowings
(78)
-
(78)
Dividends Paid
(2,712)
-
(2,712)
Issuance of Common Stock Under Compensation Plans
190
-
190
Net Cash Provided By Financing Activities
46,353
-
46,353
NET DECREASE IN CASH AND CASH EQUIVALENTS
(166,926)
-
(166,926)
Cash and Cash Equivalents at Beginning of Period
 
1,035,354
-
1,035,354
Cash and Cash Equivalents at End of Period
 
$
868,428
$
-
$
868,428
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
715
$
-
$
715
 
Income Taxes Paid
$
20
$
-
$
20
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CASH FLOWS (Unaudited)
For the Six Months Ended June 30, 2022
(Dollars in Thousands)
As Previously
Reported
Restatement
Impact
As Restated
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income Attributable to Common Shareowners
$
14,198
$
-
$
14,198
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
1,724
-
1,724
 
Depreciation
3,802
-
3,802
 
Amortization of Premiums, Discounts, and Fees, net
5,053
-
5,053
 
Amortization of Intangible Assets
80
-
80
 
Pension Settlement Charges
378
-
378
 
Originations of Loans Held for Sale
(549,018)
232,646
(316,372)
 
Proceeds From Sales of Loans Held for Sale
585,476
(232,646)
352,830
 
Mortgage Banking Revenues
(8,912)
-
(8,912)
 
Net Additions for Capitalized Mortgage Servicing Rights
360
-
360
 
Stock Compensation
489
-
489
 
Net Tax Benefit from
 
Stock Compensation
(19)
-
(19)
 
Deferred Income Taxes Benefit
(9,887)
-
(9,887)
 
Net Change in Operating Leases
(72)
-
(72)
 
Net Gain on Sales and Write-Downs of Other Real Estate Owned
(26)
-
(26)
 
Net Decrease in Other Assets
3,516
-
3,516
 
Net Increase in Other Liabilities
22,040
-
22,040
Net Cash Provided By Operating Activities
69,182
-
69,182
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Purchases
(218,548)
-
(218,548)
 
Payments, Maturities, and Calls
28,111
-
28,111
Securities Available
 
for Sale:
 
Purchases
(37,044)
-
(37,044)
 
Proceeds from the Sale of Securities
3,365
-
3,365
 
Payments, Maturities, and Calls
47,413
-
47,413
Purchases of Loans Held for Investment
(174,779)
158,794
(15,985)
Net Increase in Loans Held for Investment
(130,913)
(158,794)
(289,707)
Proceeds From Sales of Other Real Estate Owned
30
-
30
Purchases of Premises and Equipment, net
(3,322)
-
(3,322)
Noncontrolling Interest Contributions
2,573
-
2,573
Net Cash Used In Investing Activities
(483,114)
-
(483,114)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Increase in Deposits
73,396
-
73,396
Net Increase in Other Short-Term
 
Borrowings
4,784
-
4,784
Repayment of Other Long-Term
 
Borrowings
(150)
-
(150)
Dividends Paid
(5,424)
-
(5,424)
Issuance of Common Stock Under Compensation Plans
496
-
496
Net Cash Provided By Financing Activities
73,102
-
73,102
NET DECREASE IN CASH AND CASH EQUIVALENTS
(340,830)
-
(340,830)
Cash and Cash Equivalents at Beginning of Period
 
1,035,354
-
1,035,354
Cash and Cash Equivalents at End of Period
 
$
694,524
$
-
$
694,524
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
1,617
$
-
$
1,617
 
Income Taxes Paid
$
3,765
$
-
$
3,765
Noncash Investing and Financing Activities:
 
Loans and Premises Transferred to Other Real Estate Owned
$
77
$
-
$
77
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CASH FLOWS (Unaudited)
For the Nine Months Ended September 30, 2022
(Dollars in Thousands)
As Previously
Reported
Restatement
Impact
As Restated
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income Attributable to Common Shareowners
$
23,803
$
-
$
23,803
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
3,878
-
3,878
 
Depreciation
5,689
-
5,689
 
Amortization of Premiums, Discounts, and Fees, net
6,618
-
6,618
 
Amortization of Intangible Assets
120
-
120
 
Pension Settlement Charge
480
-
480
 
Originations of Loans Held for Sale
(772,089)
373,048
(399,041)
 
Proceeds From Sales of Loans Held for Sale
813,267
(373,048)
440,219
 
Mortgage Banking Revenues
(11,807)
-
(11,807)
 
Net Additions for Capitalized Mortgage Servicing Rights
570
-
570
 
Stock Compensation
904
-
904
 
Net Tax Benefit from
 
Stock Compensation
(19)
-
(19)
 
Deferred Income Taxes Benefit
(12,854)
-
(12,854)
 
Net Change in Operating Leases
(83)
-
(83)
 
Net Gain on Sales and Write-Downs of Other Real Estate Owned
(136)
-
(136)
 
Net Decrease in Other Assets
3,696
-
3,696
 
Net Increase in Other Liabilities
12,839
-
12,839
Net Cash Provided By Operating Activities
74,876
-
74,876
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Purchases
(219,865)
-
(219,865)
 
Payments, Maturities, and Calls
40,096
-
40,096
Securities Available for
 
Sale:
 
Purchases
(41,880)
-
(41,880)
 
Proceeds from the Sale of Securities
3,365
-
3,365
 
Payments, Maturities, and Calls
64,301
-
64,301
Purchases of Loans Held for Investment
(329,481)
313,157
(16,324)
Net Increase in Loans Held for Investment
(113,116)
(313,157)
(426,273)
Proceeds From Sales of Other Real Estate Owned
1,683
-
1,683
Purchases of Premises and Equipment, net
(4,013)
-
(4,013)
Noncontrolling Interest Contributions
2,867
-
2,867
Net Cash Used In Investing Activities
(596,043)
-
(596,043)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Increase in Deposits
46,516
-
46,516
Net Increase in Other Short-Term
 
Borrowings
17,592
-
17,592
Repayment of Other Long-Term
 
Borrowings
(200)
-
(200)
Dividends Paid
(8,307)
-
(8,307)
Issuance of Common Stock Under Compensation Plans
577
-
577
Net Cash Provided By Financing Activities
56,178
-
56,178
NET DECREASE IN CASH AND CASH EQUIVALENTS
(464,989)
-
(464,989)
Cash and Cash Equivalents at Beginning of Period
 
1,035,354
-
1,035,354
Cash and Cash Equivalents at End of Period
 
$
570,365
$
-
$
570,365
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
3,588
$
-
$
3,588
 
Income Taxes Paid
$
6,410
$
-
$
6,410
Noncash Investing and Financing Activities:
 
Loans and Premises Transferred to Other Real Estate Owned
$
1,543
$
-
$
1,543
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CASH FLOWS (Unaudited)
For the Three Months Ended March 31, 2023
(Dollars in Thousands)
As Previously
Reported
Restatement
Impact
As Restated
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income
 
$
13,709
$
-
$
13,709
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
3,099
-
3,099
 
Depreciation
1,969
-
1,969
 
Amortization of Premiums, Discounts, and Fees, net
1,067
-
1,067
 
Amortization of Intangible Assets
40
-
40
 
Originations of Loans Held for Sale
(213,240)
150,495
(62,745)
 
Proceeds From Sales of Loans Held for Sale
214,545
(150,495)
64,050
 
Mortgage Banking Revenues
(2,871)
-
(2,871)
 
Net Additions for Capitalized Mortgage Servicing Rights
(91)
-
(91)
 
Stock Compensation
536
-
536
 
Deferred Income Taxes Benefit
(1,170)
-
(1,170)
 
Net Change in Operating Leases
(3)
-
(3)
 
Net Gain on Sales and Write-Downs of Other Real Estate Owned
(1,858)
-
(1,858)
 
Net Increase in Other Assets
(4,349)
-
(4,349)
 
Net Increase in Other Liabilities
12,471
-
12,471
Net Cash Provided By Operating Activities
23,854
-
23,854
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Payments, Maturities, and Calls
8,820
-
8,820
Securities Available for
 
Sale:
 
Purchases
(2,017)
-
(2,017)
 
Payments, Maturities, and Calls
16,559
-
16,559
Purchases of Loans Held for Investment
(121,029)
120,106
(923)
Net Decrease (Increase) in Loans Held for Investment
9,629
(120,106)
(110,477)
Proceeds From Sales of Other Real Estate Owned
2,699
-
2,699
Purchases of Premises and Equipment, net
(1,886)
-
(1,886)
Net Cash Used In Investing Activities
(87,225)
-
(87,225)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Decrease in Deposits
(115,397)
-
(115,397)
Net Decrease in Other Short-Term
 
Borrowings
(30,161)
-
(30,161)
Repayment of Other Long-Term
 
Borrowings
(50)
-
(50)
Dividends Paid
(3,064)
-
(3,064)
Payments to Repurchase Common Stock
(819)
-
(819)
Issuance of Common Stock Under Compensation Plans
164
-
164
Net Cash Provided By Financing Activities
(149,327)
-
(149,327)
NET DECREASE IN CASH AND CASH EQUIVALENTS
(212,698)
-
(212,698)
Cash and Cash Equivalents at Beginning of Period
 
600,650
-
600,650
Cash and Cash Equivalents at End of Period
 
$
387,952
$
-
$
387,952
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
3,723
$
-
$
3,723
 
Income Taxes Paid
$
7,466
$
-
$
7,466
Noncash Investing and Financing Activities:
 
Loans and Premises Transferred to Other Real Estate Owned
$
423
$
-
$
423
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CASH FLOWS (Unaudited)
For the Six Months Ended June 30, 2023
(Dollars in Thousands)
As Previously
Reported
Restatement
Impact
As Restated
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income Attributable to Common Shareowners
$
27,883
$
-
$
27,883
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
5,296
-
5,296
 
Depreciation
3,927
-
3,927
 
Amortization of Premiums, Discounts, and Fees, net
2,117
-
2,117
 
Amortization of Intangible Assets
80
-
80
 
Pension Settlement Gain
(291)
-
(291)
 
Originations of Loans Held for Sale
(214,364)
50,191
(164,173)
 
Proceeds From Sales of Loans Held for Sale
202,848
(50,191)
152,657
 
Mortgage Banking Revenues
(6,234)
-
(6,234)
 
Net Additions for Capitalized Mortgage Servicing Rights
(253)
-
(253)
 
Stock Compensation
764
-
764
 
Deferred Income Taxes Benefit
(2,849)
-
(2,849)
 
Net Change in Operating Leases
(3)
-
(3)
 
Net Gain on Sales and Write-Downs of Other Real Estate Owned
(1,900)
-
(1,900)
 
Net Decrease in Other Assets
4,593
-
4,593
 
Net Increase in Other Liabilities
3,815
-
3,815
Net Cash Provided By Operating Activities
25,429
-
25,429
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Payments, Maturities, and Calls
18,992
-
18,992
Securities Available for
 
Sale:
 
Purchases
(4,634)
-
(4,634)
 
Payments, Maturities, and Calls
32,490
-
32,490
Purchases of Loans Held for Investment
(201,000)
199,537
(1,463)
Net Decrease (Increase) in Loans Held for Investment
61,293
(199,537)
(138,244)
Proceeds From Sales of Other Real Estate Owned
3,772
-
3,772
Purchases of Premises and Equipment, net
(3,851)
-
(3,851)
Net Cash Used In Investing Activities
(92,938)
-
(92,938)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Decrease in Deposits
(150,451)
-
(150,451)
Net Decrease in Other Short-Term
 
Borrowings
(6,120)
-
(6,120)
Repayment of Other Long-Term
 
Borrowings
(99)
-
(99)
Dividends Paid
(6,121)
-
(6,121)
Payments to Repurchase Common Stock
(2,022)
-
(2,022)
Issuance of Common Stock Under Compensation Plans
480
-
480
Net Cash Provided By Financing Activities
(164,333)
-
(164,333)
NET DECREASE IN CASH AND CASH EQUIVALENTS
(231,842)
-
(231,842)
Cash and Cash Equivalents at Beginning of Period
 
600,650
-
600,650
Cash and Cash Equivalents at End of Period
 
$
368,808
$
-
$
368,808
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
8,720
$
-
$
8,720
 
Income Taxes Paid
$
3,860
$
-
$
3,860
Noncash Investing and Financing Activities:
 
Loans and Premises Transferred to Other Real Estate Owned
$
1,442
$
-
$
1,442
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CASH FLOWS (Unaudited)
For the Nine Months Ended September 30, 2023
(Dollars in Thousands)
As Previously
Reported
Restatement
Impact
As Restated
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income Attributable to Common Shareowners
$
40,539
$
-
$
40,539
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
7,689
-
7,689
 
Depreciation
5,920
-
5,920
 
Amortization of Premiums, Discounts, and Fees, net
3,216
-
3,216
 
Amortization of Intangible Assets
120
-
120
 
Pension Settlement Gain
(291)
-
(291)
 
Originations of Loans Held for Sale
(222,575)
(23,623)
(246,198)
 
Proceeds From Sales of Loans Held for Sale
223,543
23,623
247,166
 
Mortgage Banking Revenues
(8,072)
-
(8,072)
 
Net Additions for Capitalized Mortgage Servicing Rights
(392)
-
(392)
 
Stock Compensation
1,110
-
1,110
 
Deferred Income Taxes Benefit
(2,464)
-
(2,464)
 
Net Change in Operating Leases
(12)
-
(12)
 
Net Gain on Sales and Write-Downs of Other Real Estate Owned
(1,915)
-
(1,915)
 
Net Decrease in Other Assets
8,207
-
8,207
 
Net Increase in Other Liabilities
1,069
-
1,069
Net Cash Provided By Operating Activities
55,692
-
55,692
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Payments, Maturities, and Calls
28,159
-
28,159
Securities Available for
 
Sale:
 
Purchases
(9,399)
-
(9,399)
 
Proceeds from the Sale of Securities
30,420
-
30,420
 
Payments, Maturities, and Calls
53,045
-
53,045
Purchases of Loans Held for Investment
(295,360)
293,111
(2,249)
Net Decrease (Increase) in Loans Held for Investment
132,105
(293,111)
(161,006)
Proceeds From Sales of Other Real Estate Owned
3,840
-
3,840
Purchases of Premises and Equipment, net
(5,459)
-
(5,459)
Net Cash Used In Investing Activities
(62,649)
-
(62,649)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Decrease in Deposits
(398,872)
-
(398,872)
Net Decrease in Other Short-Term
 
Borrowings
(15,097)
-
(15,097)
Repayment of Other Long-Term
 
Borrowings
(149)
-
(149)
Dividends Paid
(9,518)
-
(9,518)
Payments to Repurchase Common Stock
(3,121)
-
(3,121)
Issuance of Common Stock Under Compensation Plans
562
-
562
Net Cash Provided By Financing Activities
(426,195)
-
(426,195)
NET DECREASE IN CASH AND CASH EQUIVALENTS
(433,152)
-
(433,152)
Cash and Cash Equivalents at Beginning of Period
 
600,650
-
600,650
Cash and Cash Equivalents at End of Period
 
$
167,498
$
-
$
167,498
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
15,026
$
-
$
15,026
 
Income Taxes Paid
$
7,395
$
-
$
7,395
Noncash Investing and Financing Activities:
 
Loans and Premises Transferred to Other Real Estate Owned
$
1,495
$
-
$
1,495
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.