UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
____________________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of Report (Date of earliest
event reported): March 28,
2008
CAPITAL CITY BANK GROUP,
INC.
(Exact
name of registrant as specified in its charter)
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(State
of Incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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217
North Monroe Street, Tallahassee, Florida
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
telephone number, including area code: (850)
671-0300
___________________________________________________
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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CAPITAL
CITY BANK GROUP, INC.
FORM
8-K
CURRENT
REPORT
Item
8.01. Other Events.
Capital
City Bank Group, Inc. (the “Company”) expects to report a first quarter 2008
pre-tax cash gain of approximately $2.4 million on the partial redemption of its
equity interest in Visa Inc. In addition, the Company expects to
reverse approximately $1.1 million of indemnification liabilities related to
certain Visa litigation, which the Company has referred to as the Covered
Litigation, established in the fourth quarter 2007. As a result, the
Company’s first quarter 2008 results are expected to benefit from these events
by approximately $2.2 million after-tax, equivalent to $0.13 per diluted
share.
FORWARD-LOOKING
STATEMENTS
Forward-looking
statements in this Form 8-K are based on current plans and expectations that are
subject to uncertainties and risks, which could cause the Company’s future
results to differ materially. The following factors, among others,
could cause the Company’s actual results to differ: the frequency and magnitude
of foreclosure of the Company’s loans; the effects of the Company’s lack of a
diversified loan portfolio, including the risks of geographic and industry
concentrations; the accuracy of the Company’s financial statement estimates and
assumptions, including the estimate for the Company’s loan loss provision; the
Company’s ability to integrate acquisitions; the strength of the U.S. economy
and the local economies where the Company conducts operations; harsh weather
conditions; fluctuations in inflation, interest rates, or monetary policies;
changes in the stock market and other capital and real estate markets;
legislative or regulatory changes; customer acceptance of third-party products
and services; increased competition and its effect on
pricing; technological changes; the effects of security breaches and
computer viruses that may affect the Company’s computer systems; changes in
consumer spending and savings habits; the Company’s growth and
profitability; changes in accounting; and the Company’s ability to manage
the risks involved in the foregoing. Additional factors can be found
in the Company’s Annual Report on Form 10-K for the fiscal year ended December
31, 2007, and the Company’s other filings with the SEC, which are available at
the SEC’s internet site (http://www.sec.gov). Forward-looking
statements in this Form 8-K speak only as of the date of the Form 8-K, and the
Company assumes no obligation to update forward-looking statements or the
reasons why actual results could differ.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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CAPITAL
CITY BANK GROUP, INC. |
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Date:
April 3,
2008
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By:
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J.
Kimbrough Davis |
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Executive
Vice President |
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and
Chief Financial Officer |
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