167715440.0130000000.010.0190000000167614640.01FALSE--12-3120200000726601Interest is at LIBOR plus 2.25%Interest is at the LIBOR plus 2.24% to 3.00%Interest is at the LIBOR plus 2.25%YesQ3--10/31/20209/30/2020 0000726601 2020-01-01 2020-09-30 0000726601 2020-07-01 2020-09-30 0000726601 us-gaap:CommitmentsToExtendCreditMember 2020-09-30 0000726601 2020-09-30 0000726601 us-gaap:MortgageBackedSecuritiesMember 2019-12-31 0000726601 us-gaap:MortgagesMember 2019-12-31 0000726601 us-gaap:HomeEquityMember 2020-09-30 0000726601 us-gaap:RetainedEarningsMember 2020-07-01 2020-09-30 0000726601 2019-12-31 0000726601 us-gaap:StandbyLettersOfCreditMember 2019-12-31 0000726601 us-gaap:PensionPlansDefinedBenefitMember 2020-07-01 2020-09-30 0000726601 us-gaap:CommonStockMember 2019-07-01 2019-09-30 0000726601 us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-09-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-09-30 0000726601 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ResidentialRealEstateMember 2020-09-30 0000726601 us-gaap:ConstructionLoansMember 2020-09-30 0000726601 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-12-31 0000726601 us-gaap:ConsumerLoanMember 2019-12-31 0000726601 us-gaap:ResidentialRealEstateMember 2020-09-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-09-30 0000726601 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ResidentialRealEstateMember 2020-09-30 0000726601 us-gaap:ResidentialRealEstateMember 2019-12-31 0000726601 us-gaap:FairValueInputsLevel2Member 2019-12-31 0000726601 us-gaap:AdditionalPaidInCapitalMember 2020-07-01 2020-09-30 0000726601 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-07-01 2020-09-30 0000726601 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2020-09-30 0000726601 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-07-01 2019-09-30 0000726601 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2020-09-30 0000726601 us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000726601 2019-07-01 2019-09-30 0000726601 us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-09-30 0000726601 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerLoanMember 2019-12-31 0000726601 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2020-09-30 0000726601 us-gaap:MortgageBackedSecuritiesMember 2020-09-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2019-12-31 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:USTreasurySecuritiesMember 2019-12-31 0000726601 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-01-01 2020-09-30 0000726601 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerLoanMember 2020-09-30 0000726601 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerLoanMember 2019-12-31 0000726601 us-gaap:HomeEquityMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-09-30 0000726601 us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember 2020-07-01 2020-09-30 0000726601 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2020-09-30 0000726601 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2019-12-31 0000726601 us-gaap:FairValueInputsLevel1Member 2020-09-30 0000726601 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-09-30 0000726601 us-gaap:CommonStockMember 2019-12-31 0000726601 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000726601 us-gaap:CommonStockMember 2020-07-01 2020-09-30 0000726601 us-gaap:FairValueInputsLevel2Member 2020-09-30 0000726601 us-gaap:MortgagesMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000726601 us-gaap:HomeEquityMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-09-30 0000726601 us-gaap:AdditionalPaidInCapitalMember 2019-07-01 2019-09-30 0000726601 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2019-12-31 0000726601 us-gaap:ConsumerLoanMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-09-30 0000726601 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0000726601 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-12-31 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember 2020-09-30 0000726601 us-gaap:USTreasurySecuritiesMember 2019-12-31 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000726601 us-gaap:HomeEquityMember 2019-12-31 0000726601 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-01-01 2019-09-30 0000726601 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember 2019-12-31 0000726601 us-gaap:RetainedEarningsMember 2019-07-01 2019-09-30 0000726601 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-09-30 0000726601 us-gaap:ConstructionLoansMember 2019-12-31 0000726601 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000726601 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel3Member 2020-09-30 0000726601 us-gaap:ConsumerLoanMember 2020-09-30 0000726601 us-gaap:FairValueInputsLevel1Member 2019-12-31 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000726601 us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0000726601 us-gaap:MortgagesMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000726601 us-gaap:StandbyLettersOfCreditMember 2020-09-30 0000726601 us-gaap:FairValueInputsLevel3Member 2020-09-30 0000726601 us-gaap:FinancingReceivables60To89DaysPastDueMember ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2019-12-31 0000726601 us-gaap:MortgagesMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-09-30 0000726601 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000726601 us-gaap:RetainedEarningsMember 2020-09-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000726601 us-gaap:FairValueInputsLevel3Member 2019-12-31 0000726601 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000726601 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000726601 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-12-31 0000726601 us-gaap:ConstructionLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-09-30 0000726601 us-gaap:EquitySecuritiesMember 2020-09-30 0000726601 us-gaap:CommitmentsToExtendCreditMember 2019-12-31 0000726601 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ResidentialRealEstateMember 2019-12-31 0000726601 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2019-12-31 0000726601 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ResidentialRealEstateMember 2019-12-31 0000726601 us-gaap:FinancingReceivables60To89DaysPastDueMember ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2019-12-31 0000726601 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000726601 us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-09-30 0000726601 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000726601 us-gaap:CommonStockMember 2018-12-31 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member 2020-09-30 0000726601 us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2020-09-30 0000726601 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0000726601 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2020-09-30 0000726601 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-09-30 0000726601 us-gaap:HomeEquityMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-09-30 0000726601 us-gaap:CommonStockMember 2020-09-30 0000726601 2019-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel1Member 2020-09-30 0000726601 us-gaap:HomeEquityMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0000726601 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2019-12-31 0000726601 us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-09-30 0000726601 us-gaap:MortgagesMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-09-30 0000726601 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2020-09-30 0000726601 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2020-01-01 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel1Member 2020-09-30 0000726601 us-gaap:HomeEquityMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000726601 us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-09-30 0000726601 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-09-30 0000726601 us-gaap:MortgagesMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-09-30 0000726601 us-gaap:ConsumerLoanMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000726601 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2020-09-30 0000726601 us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-09-30 0000726601 us-gaap:HomeEquityMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000726601 us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel1Member 2020-09-30 0000726601 us-gaap:AdditionalPaidInCapitalMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000726601 us-gaap:RetainedEarningsMember 2019-12-31 0000726601 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-01-01 2019-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2019-12-31 0000726601 us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member 2020-09-30 0000726601 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-09-30 0000726601 us-gaap:MortgagesMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0000726601 us-gaap:ConstructionLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:USTreasurySecuritiesMember 2020-09-30 0000726601 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2019-12-31 0000726601 us-gaap:MortgagesMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000726601 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerLoanMember 2020-09-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000726601 2019-06-30 0000726601 us-gaap:DepositAccountMember 2020-07-01 2020-09-30 0000726601 us-gaap:CreditAndDebitCardMember 2020-07-01 2020-09-30 0000726601 us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember 2020-07-01 2020-09-30 0000726601 us-gaap:MortgageBankingMember 2020-07-01 2020-09-30 0000726601 ccbg:LeasePaymentTransactionMember 2020-09-30 0000726601 2018-12-31 0000726601 us-gaap:DepositAccountMember 2019-07-01 2019-09-30 0000726601 us-gaap:CreditAndDebitCardMember 2019-07-01 2019-09-30 0000726601 us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember 2019-07-01 2019-09-30 0000726601 us-gaap:MortgageBankingMember 2019-07-01 2019-09-30 0000726601 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000726601 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000726601 us-gaap:RetainedEarningsMember 2018-12-31 0000726601 us-gaap:CommonStockMember 2019-09-30 0000726601 us-gaap:AdditionalPaidInCapitalMember 2019-09-30 0000726601 us-gaap:RetainedEarningsMember 2019-09-30 0000726601 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-09-30 0000726601 us-gaap:RetainedEarningsMember 2019-06-30 0000726601 us-gaap:CommonStockMember 2019-06-30 0000726601 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0000726601 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0000726601 us-gaap:MortgagesMember 2019-07-01 2019-09-30 0000726601 us-gaap:ConsumerLoanMember 2019-07-01 2019-09-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2019-07-01 2019-09-30 0000726601 us-gaap:HomeEquityMember 2019-07-01 2019-09-30 0000726601 us-gaap:ResidentialRealEstateMember 2019-07-01 2019-09-30 0000726601 us-gaap:ConstructionLoansMember 2019-07-01 2019-09-30 0000726601 us-gaap:PensionPlansDefinedBenefitMember 2019-07-01 2019-09-30 0000726601 us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember 2019-07-01 2019-09-30 0000726601 us-gaap:PensionPlansDefinedBenefitMember 2020-01-01 2020-09-30 0000726601 srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember 2019-12-31 0000726601 2020-03-01 0000726601 2020-03-01 2020-03-01 0000726601 srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember 2020-01-01 0000726601 srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember us-gaap:UnfundedLoanCommitmentMember 2020-01-01 0000726601 us-gaap:USTreasurySecuritiesMember 2020-09-30 0000726601 us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-09-30 0000726601 us-gaap:EquitySecuritiesMember 2019-12-31 0000726601 us-gaap:DebtSecuritiesMember 2020-09-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember ccbg:RealEstateSecuredMember 2020-09-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember ccbg:NonRealEstateSecuredMember 2020-09-30 0000726601 us-gaap:MortgagesMember ccbg:RealEstateSecuredMember 2020-09-30 0000726601 us-gaap:MortgagesMember ccbg:NonRealEstateSecuredMember 2020-09-30 0000726601 us-gaap:ResidentialRealEstateMember ccbg:RealEstateSecuredMember 2020-09-30 0000726601 us-gaap:ResidentialRealEstateMember ccbg:NonRealEstateSecuredMember 2020-09-30 0000726601 us-gaap:HomeEquityMember ccbg:RealEstateSecuredMember 2020-09-30 0000726601 us-gaap:HomeEquityMember ccbg:NonRealEstateSecuredMember 2020-09-30 0000726601 us-gaap:ConsumerLoanMember ccbg:RealEstateSecuredMember 2020-09-30 0000726601 us-gaap:ConsumerLoanMember ccbg:NonRealEstateSecuredMember 2020-09-30 0000726601 ccbg:RealEstateSecuredMember 2020-09-30 0000726601 ccbg:NonRealEstateSecuredMember 2020-09-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember us-gaap:PassMember 2020-09-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember us-gaap:SpecialMentionMember 2020-09-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember us-gaap:SubstandardMember 2020-09-30 0000726601 us-gaap:PassMember us-gaap:ConstructionLoansMember 2020-09-30 0000726601 us-gaap:MortgagesMember us-gaap:PassMember 2020-09-30 0000726601 us-gaap:MortgagesMember us-gaap:SpecialMentionMember 2020-09-30 0000726601 us-gaap:MortgagesMember us-gaap:SubstandardMember 2020-09-30 0000726601 us-gaap:ResidentialRealEstateMember us-gaap:PassMember 2020-09-30 0000726601 us-gaap:ResidentialRealEstateMember us-gaap:SpecialMentionMember 2020-09-30 0000726601 us-gaap:ResidentialRealEstateMember us-gaap:SubstandardMember 2020-09-30 0000726601 us-gaap:HomeEquityMember us-gaap:PerformingFinancingReceivableMember 2020-09-30 0000726601 us-gaap:HomeEquityMember us-gaap:NonperformingFinancingReceivableMember 2020-09-30 0000726601 us-gaap:ConsumerLoanMember us-gaap:PerformingFinancingReceivableMember 2020-09-30 0000726601 us-gaap:ConsumerLoanMember us-gaap:NonperformingFinancingReceivableMember 2020-09-30 0000726601 2019-01-01 2019-12-31 0000726601 2020-01-01 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2020-01-01 0000726601 us-gaap:ConstructionLoansMember 2020-01-01 0000726601 us-gaap:MortgagesMember 2020-01-01 0000726601 us-gaap:ResidentialRealEstateMember 2020-01-01 0000726601 us-gaap:HomeEquityMember 2020-01-01 0000726601 us-gaap:ConsumerLoanMember 2020-01-01 0000726601 srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember us-gaap:ConstructionLoansMember 2019-12-31 0000726601 srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember us-gaap:MortgagesMember 2019-12-31 0000726601 srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember us-gaap:ResidentialRealEstateMember 2019-12-31 0000726601 srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember us-gaap:ConsumerLoanMember 2019-12-31 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2020-07-01 2020-09-30 0000726601 us-gaap:ConstructionLoansMember 2020-07-01 2020-09-30 0000726601 us-gaap:MortgagesMember 2020-07-01 2020-09-30 0000726601 us-gaap:ResidentialRealEstateMember 2020-07-01 2020-09-30 0000726601 us-gaap:HomeEquityMember 2020-07-01 2020-09-30 0000726601 us-gaap:ConsumerLoanMember 2020-07-01 2020-09-30 0000726601 us-gaap:ResidentialMortgageMember 2020-09-30 0000726601 us-gaap:ResidentialMortgageMember ccbg:ResidentialMortgageLoanCommitmentsDerivativeContractsMember 2020-09-30 0000726601 us-gaap:ResidentialMortgageMember ccbg:ForwardSalesContractsMember 2020-09-30 0000726601 us-gaap:MortgageBankingMember 2020-01-01 2020-09-30 0000726601 us-gaap:ResidentialMortgageMember 2020-09-30 0000726601 us-gaap:ResidentialMortgageMember 2020-01-01 2020-09-30 0000726601 us-gaap:WarehouseAgreementBorrowingsMember ccbg:LineOfCreditAgreementExpiringOcotber2020Member 2020-09-30 0000726601 us-gaap:WarehouseAgreementBorrowingsMember ccbg:MasterRepurchaseAgreementMember 2020-09-30 0000726601 us-gaap:WarehouseAgreementBorrowingsMember ccbg:LineOfCreditExpiringSeptember2020Member 2020-09-30 0000726601 us-gaap:WarehouseAgreementBorrowingsMember 2020-09-30 0000726601 us-gaap:WarehouseAgreementBorrowingsMember ccbg:LineOfCreditAgreementExpiringOcotber2020Member 2020-01-01 2020-09-30 0000726601 us-gaap:WarehouseAgreementBorrowingsMember ccbg:MasterRepurchaseAgreementMember 2020-01-01 2020-09-30 0000726601 us-gaap:WarehouseAgreementBorrowingsMember ccbg:LineOfCreditExpiringSeptember2020Member 2020-01-01 2020-09-30 0000726601 us-gaap:WarehouseAgreementBorrowingsMember ccbg:MasterRepurchaseAgreementMember srt:MinimumMember 2020-01-01 2020-09-30 0000726601 us-gaap:WarehouseAgreementBorrowingsMember ccbg:MasterRepurchaseAgreementMember srt:MaximumMember 2020-01-01 2020-09-30 0000726601 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember ccbg:ResidentialMortgageLoansHeldForSaleMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member ccbg:ResidentialMortgageLoansHeldForSaleMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member ccbg:ResidentialMortgageLoansHeldForSaleMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember ccbg:ResidentialMortgageLoansHeldForSaleMember 2020-09-30 0000726601 2020-10-31 0000726601 us-gaap:DepositAccountMember 2020-01-01 2020-09-30 0000726601 us-gaap:CreditAndDebitCardMember 2020-01-01 2020-09-30 0000726601 us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember 2020-01-01 2020-09-30 0000726601 2019-01-01 2019-09-30 0000726601 us-gaap:DepositAccountMember 2019-01-01 2019-09-30 0000726601 us-gaap:CreditAndDebitCardMember 2019-01-01 2019-09-30 0000726601 us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember 2019-01-01 2019-09-30 0000726601 us-gaap:MortgageBankingMember 2019-01-01 2019-09-30 0000726601 us-gaap:RetainedEarningsMember 2020-01-01 2020-09-30 0000726601 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-09-30 0000726601 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-09-30 0000726601 us-gaap:CommonStockMember 2020-01-01 2020-09-30 0000726601 us-gaap:CommonStockMember 2019-01-01 2019-09-30 0000726601 us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember 2020-01-01 2020-09-30 0000726601 us-gaap:PensionPlansDefinedBenefitMember 2019-01-01 2019-09-30 0000726601 us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember 2019-01-01 2019-09-30 0000726601 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-12-31 0000726601 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-12-31 0000726601 us-gaap:MortgagesMember 2019-01-01 2019-09-30 0000726601 us-gaap:ConsumerLoanMember 2019-01-01 2019-09-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2019-01-01 2019-09-30 0000726601 us-gaap:HomeEquityMember 2019-01-01 2019-09-30 0000726601 us-gaap:ResidentialRealEstateMember 2019-01-01 2019-09-30 0000726601 us-gaap:ConstructionLoansMember 2019-01-01 2019-09-30 0000726601 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-09-30 0000726601 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-09-30 0000726601 us-gaap:RetainedEarningsMember 2019-01-01 2019-09-30 0000726601 2020-06-30 0000726601 us-gaap:CommonStockMember 2020-06-30 0000726601 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0000726601 us-gaap:RetainedEarningsMember 2020-06-30 0000726601 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-06-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2020-06-30 0000726601 us-gaap:ConstructionLoansMember 2020-06-30 0000726601 us-gaap:MortgagesMember 2020-06-30 0000726601 us-gaap:ResidentialRealEstateMember 2020-06-30 0000726601 us-gaap:HomeEquityMember 2020-06-30 0000726601 us-gaap:ConsumerLoanMember 2020-06-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2020-01-01 2020-09-30 0000726601 us-gaap:ConstructionLoansMember 2020-01-01 2020-09-30 0000726601 us-gaap:MortgagesMember 2020-01-01 2020-09-30 0000726601 us-gaap:ResidentialRealEstateMember 2020-01-01 2020-09-30 0000726601 us-gaap:HomeEquityMember 2020-01-01 2020-09-30 0000726601 us-gaap:ConsumerLoanMember 2020-01-01 2020-09-30 0000726601 srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember us-gaap:HomeEquityMember 2019-12-31 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2019-09-30 0000726601 us-gaap:ConstructionLoansMember 2019-09-30 0000726601 us-gaap:MortgagesMember 2019-09-30 0000726601 us-gaap:ResidentialRealEstateMember 2019-09-30 0000726601 us-gaap:HomeEquityMember 2019-09-30 0000726601 us-gaap:ConsumerLoanMember 2019-09-30 0000726601 us-gaap:ConstructionLoansMember us-gaap:SubstandardMember 2020-09-30 0000726601 us-gaap:InterestRateSwapMember 2020-09-30 0000726601 us-gaap:InterestRateSwapMember 2020-01-01 2020-09-30 0000726601 us-gaap:InterestRateContractMember 2020-01-01 2020-09-30 0000726601 us-gaap:InterestRateContractMember 2020-09-30 0000726601 2020-03-01 2020-09-30 0000726601 us-gaap:SecuritiesInvestmentMember 2020-09-30 0000726601 us-gaap:InterestRateSwapMember 2019-12-31 0000726601 us-gaap:InterestRateSwapMember 2018-12-31 0000726601 us-gaap:InterestRateSwapMember 2019-01-01 2019-09-30 0000726601 us-gaap:InterestRateSwapMember 2019-09-30 0000726601 us-gaap:ConstructionLoansMember ccbg:RealEstateSecuredMember 2020-09-30 0000726601 us-gaap:ConstructionLoansMember ccbg:NonRealEstateSecuredMember 2020-09-30 0000726601 srt:MinimumMember 2020-09-30 0000726601 srt:MaximumMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:InterestRateSwapMember 2020-09-30 0000726601 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:InterestRateSwapMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:InterestRateSwapMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member ccbg:MortgageBankingDerivativeAssetMember 2020-09-30 0000726601 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember ccbg:MortgageBankingDerivativeAssetMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member ccbg:MortgageBankingDerivativeAssetMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:InterestRateSwapMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember ccbg:MortgageBankingDerivativeAssetMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member ccbg:MortgageBankingDerivativeLiabilityMember 2020-09-30 0000726601 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember ccbg:MortgageBankingDerivativeLiabilityMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member ccbg:MortgageBankingDerivativeLiabilityMember 2020-09-30 0000726601 us-gaap:FairValueMeasurementsRecurringMember ccbg:MortgageBankingDerivativeLiabilityMember 2020-09-30 0000726601 us-gaap:PaymentDeferralMember 2020-09-30 0000726601 us-gaap:PaymentDeferralMember 2020-01-01 2020-09-30 0000726601 us-gaap:CommonStockMember us-gaap:AccountingStandardsUpdate201911Member 2019-12-31 0000726601 us-gaap:AdditionalPaidInCapitalMember us-gaap:AccountingStandardsUpdate201911Member 2019-12-31 0000726601 us-gaap:RetainedEarningsMember us-gaap:AccountingStandardsUpdate201911Member 2019-12-31 0000726601 us-gaap:AccumulatedOtherComprehensiveIncomeMember us-gaap:AccountingStandardsUpdate201911Member 2019-12-31 0000726601 us-gaap:AccountingStandardsUpdate201911Member 2019-12-31 0000726601 srt:MinimumMember 2020-01-01 2020-09-30 0000726601 srt:MaximumMember 2020-01-01 2020-09-30 0000726601 us-gaap:InterestRateContractMember 2020-07-01 2020-09-30 0000726601 srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember srt:MinimumMember ccbg:IndependentAppraisalOfUnderlyingCollateralMember 2020-09-30 0000726601 srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember srt:MaximumMember ccbg:LossRatesForSimilarLoanTypesMember 2020-09-30 0000726601 us-gaap:WarehouseAgreementBorrowingsMember ccbg:LineOfCreditExpiringNovember152020Member us-gaap:SubsequentEventMember 2020-10-31 0000726601 us-gaap:WarehouseAgreementBorrowingsMember ccbg:LineOfCreditExpiringNovember152020Member us-gaap:SubsequentEventMember 2020-10-01 2020-10-31 0000726601 us-gaap:WarehouseAgreementBorrowingsMember us-gaap:SubsequentEventMember ccbg:LineOfCreditExpiringSeptember302021Member 2020-10-01 2020-10-31 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2019-06-30 0000726601 us-gaap:ConstructionLoansMember 2019-06-30 0000726601 us-gaap:MortgagesMember 2019-06-30 0000726601 us-gaap:ResidentialRealEstateMember 2019-06-30 0000726601 us-gaap:HomeEquityMember 2019-06-30 0000726601 us-gaap:ConsumerLoanMember 2019-06-30 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember 2018-12-31 0000726601 us-gaap:ConstructionLoansMember 2018-12-31 0000726601 us-gaap:MortgagesMember 2018-12-31 0000726601 us-gaap:ResidentialRealEstateMember 2018-12-31 0000726601 us-gaap:HomeEquityMember 2018-12-31 0000726601 us-gaap:ConsumerLoanMember 2018-12-31 0000726601 ccbg:LoansReceivableForCommercialAndFinancialAndAgriculturalMember srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember 2019-12-31 iso4217:USD xbrli:pure xbrli:shares iso4217:USD xbrli:shares dummy:Contracts dummy:Investment_Positions ccbg:BankingOffices

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the Quarterly Period Ended September 30, 2020

 

OR

TRANSITION REPORTPURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from ____________ to ____________

 

Commission File Number: 0-13358

 

Capital City Bank Group, Inc.

(Exact name of Registrant as specified in its charter)

 

Florida

 

59-2273542

(State or other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification No.)

 

217 North Monroe Street, Tallahassee, Florida

 

32301

(Address of principal executive office)

 

(Zip Code)

 

(850) 402-7821

 

 

(Registrant's telephone number, including area code)

 

 

 

Securities registered pursuant to Section 12(b) of the Act

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, Par value $0.01

CCBG

Nasdaq Stock Market, LLC

 

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes [X] No [ ]

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ☐

Accelerated filer

Non-accelerated filer ☐

Smaller reporting company

 

 

 

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of The Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

 

At October 31, 2020, 16,761,464 shares of the Registrant's Common Stock, $.01 par value, were outstanding.

 


 

CAPITAL CITY BANK GROUP, INC.

QUARTERLY REPORT ON FORM 10-Q

FOR THE PERIOD ENDED SEPTEMBER 30, 2020

TABLE OF CONTENTS

 

PART I – Financial Information

 

Page

 

Item 1.

Consolidated Financial Statements (Unaudited)

 

 

Consolidated Statements of Financial Condition – September 30, 2020 and December 31, 2019

4

 

Consolidated Statements of Income – Three and Nine Months Ended September 30, 2020 and 2019

5

 

Consolidated Statements of Comprehensive Income – Three and Nine Months Ended September 30, 2020 and 2019

6

 

Consolidated Statements of Changes in Shareowners’ Equity – Three and Nine Months Ended September 30, 2020 and 2019

7

 

Consolidated Statements of Cash Flows – Nine Months Ended September 30, 2020 and 2019

8

 

Notes to Consolidated Financial Statements

9

 

 

 

Item 2.

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

36

 

 

 

Item 3.

Quantitative and Qualitative Disclosure About Market Risk

53

 

 

 

Item 4.

Controls and Procedures

53

 

 

 

PART II – Other Information

 

 

 

Item 1.

Legal Proceedings

53

 

 

 

Item 1A.

Risk Factors

53

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

53

 

 

 

Item 3.

Defaults Upon Senior Securities

54

 

 

 

Item 4.

Mine Safety Disclosure

54

 

 

 

Item 5.

Other Information

54

 

 

 

Item 6.

Exhibits

55

 

 

 

Signatures

 

56

 

 

 

 

 

 

 

 

 

 

 

2


 

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,” “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 I, Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Part II, Item 1A. “Risk Factors” in this Quarterly Report on Form 10-Q and the following sections of our Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”): (a) “Introductory Note” in Part I, Item 1. “Business”; (b) “Risk Factors” in Part I, Item 1A, as updated in our subsequent quarterly reports filed on Form 10-Q; and (c) “Introduction” in “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in Part II, Item 7, as well as:

 

the magnitude and duration of the ongoing COVID-19 pandemic and its impact on the global and local economies and financial market conditions and our business, results of operations and financial condition, including the impact of our participation in government programs related to COVID-19;

our ability to successfully manage credit risk, interest rate risk, liquidity risk, and other risks inherent to our industry;

legislative or regulatory changes;

changes in monetary and fiscal policies of the U.S. Government;

inflation, interest rate, market and monetary fluctuations;

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 loan loss reserve, deferred tax asset valuation and pension plan;

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 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;

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, 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 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;

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.

 

However, other factors besides those listed in 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 statements made by us or on our behalf speak only as of the date they are made. We do not undertake to update any forward-looking statement, except as required by applicable law.

3


 

PART I. FINANCIAL INFORMATION

Item 1.

 

 

 

 

 

 

 

 

CAPITAL CITY BANK GROUP, INC.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

September 30,

 

December 31,

(Dollars in Thousands)

2020

 

2019

ASSETS

 

 

 

 

 

Cash and Due From Banks

$

76,509

 

$

60,087

Federal Funds Sold and Interest Bearing Deposits

 

626,104

 

 

318,336

 

 

Total Cash and Cash Equivalents

 

702,613

 

 

378,423

 

 

 

 

 

 

 

 

Investment Securities, Available for Sale, at fair value

 

328,253

 

 

403,601

Investment Securities, Held to Maturity (fair value of $208,266 and $241,429)

 

202,593

 

 

239,539

 

 

Total Investment Securities

 

530,846

 

 

643,140

 

 

 

 

 

 

 

 

Loans Held For Sale, at fair value

 

116,561

 

 

9,509

 

 

 

 

 

 

 

 

Loans Held for Investment

 

1,998,161

 

 

1,835,929

 

Allowance for Credit Losses

 

(23,137)

 

 

(13,905)

 

 

Loans Held for Investment, Net

 

1,975,024

 

 

1,822,024

 

 

 

 

 

 

 

 

Premises and Equipment, Net

 

87,192

 

 

84,543

Goodwill

 

89,095

 

 

84,811

Other Real Estate Owned

 

1,227

 

 

953

Other Assets

 

84,483

 

 

65,550

 

 

Total Assets

$

3,587,041

 

$

3,088,953

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

Deposits:

 

 

 

 

 

 

Noninterest Bearing Deposits

$

1,378,314

 

$

1,044,699

 

Interest Bearing Deposits

 

1,631,132

 

 

1,600,755

 

 

Total Deposits

 

3,009,446

 

 

2,645,454

 

 

 

 

 

 

 

 

Short-Term Borrowings

 

90,936

 

 

6,404

Subordinated Notes Payable

 

52,887

 

 

52,887

Other Long-Term Borrowings

 

5,268

 

 

6,514

Other Liabilities

 

71,880

 

 

50,678

 

 

Total Liabilities

 

3,230,417

 

 

2,761,937

 

 

 

 

 

 

 

 

Temporary Equity

 

17,199

 

 

-

 

 

 

 

 

 

 

 

SHAREOWNERS’ EQUITY

 

 

 

 

 

Preferred Stock, $.01 par value; 3,000,000 shares authorized; no shares issued and outstanding

 

-

 

 

-

Common Stock, $.01 par value; 90,000,000 shares authorized; 16,761,464 and 16,771,544 shares

 

 

 

 

issued and outstanding at September 30, 2020 and December 31, 2019, respectively

 

168

 

 

168

Additional Paid-In Capital

 

31,425

 

 

32,092

Retained Earnings

 

333,545

 

 

322,937

Accumulated Other Comprehensive Loss, net of tax

 

(25,713)

 

 

(28,181)

Total Shareowners’ Equity

 

339,425

 

 

327,016

Total Liabilities, Temporary Equity, and Shareowners' Equity

$

3,587,041

 

$

3,088,953

 

 

 

 

 

 

 

 

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

4


 

CAPITAL CITY BANK GROUP, INC.

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

(Dollars in Thousands, Except Per Share Data)

2020

 

2019

 

2020

 

2019

INTEREST INCOME

 

 

 

 

 

 

 

 

 

 

 

Loans, including Fees

$

23,594

 

$

23,992

 

$

70,874

 

$

70,373

Investment Securities:

 

 

 

 

 

 

 

 

 

 

 

 

Taxable

 

2,400

 

 

3,249

 

 

8,105

 

 

9,937

 

Tax Exempt

 

26

 

 

58

 

 

73

 

 

276

Federal Funds Sold and Interest Bearing Deposits

 

146

 

 

1,142

 

 

991

 

 

4,242

Total Interest Income

 

26,166

 

 

28,441

 

 

80,043

 

 

84,828

 

 

 

 

 

 

 

 

 

 

 

 

 

INTEREST EXPENSE

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

190

 

 

1,596

 

 

1,347

 

 

5,683

Short-Term Borrowings

 

498

 

 

27

 

 

1,051

 

 

93

Subordinated Notes Payable

 

316

 

 

558

 

 

1,161

 

 

1,762

Other Long-Term Borrowings

 

40

 

 

63

 

 

131

 

 

201

Total Interest Expense

 

1,044

 

 

2,244

 

 

3,690

 

 

7,739

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INTEREST INCOME

 

25,122

 

 

26,197

 

 

76,353

 

 

77,089

Provision for Credit Losses

 

1,308

 

 

776

 

 

8,303

 

 

2,189

Net Interest Income After Provision For Credit Losses

 

23,814

 

 

25,421

 

 

68,050

 

 

74,900

 

 

 

 

 

 

 

 

 

 

 

 

 

NONINTEREST INCOME

 

 

 

 

 

 

 

 

 

 

 

Deposit Fees

 

4,316

 

 

4,961

 

 

13,087

 

 

14,492

Bank Card Fees

 

3,389

 

 

2,972

 

 

9,582

 

 

8,863

Wealth Management Fees

 

2,808

 

 

2,992

 

 

7,966

 

 

7,719

Mortgage Banking Revenues

 

22,983

 

 

1,587

 

 

45,633

 

 

3,779

Other

 

1,469

 

 

1,391

 

 

4,374

 

 

4,372

Total Noninterest Income

 

34,965

 

 

13,903

 

 

80,642

 

 

39,225

 

 

 

 

 

 

 

 

 

 

 

 

 

NONINTEREST EXPENSE

 

 

 

 

 

 

 

 

 

 

 

Compensation

 

26,164

 

 

16,203

 

 

69,558

 

 

48,989

Occupancy, Net

 

5,906

 

 

4,710

 

 

16,683

 

 

13,756

Other Real Estate Owned, Net

 

219

 

 

6

 

 

(463)

 

 

444

Other

 

8,053

 

 

6,954

 

 

22,836

 

 

21,278

Total Noninterest Expense

 

40,342

 

 

27,873

 

 

108,614

 

 

84,467

 

 

 

 

 

 

 

 

 

 

 

 

 

INCOME BEFORE INCOME TAXES

 

18,437

 

 

11,451

 

 

40,078

 

 

29,658

Income Tax Expense

 

3,165

 

 

2,970

 

 

7,397

 

 

7,416

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INCOME

 

15,272

 

 

8,481

 

 

32,681

 

 

22,242

Pre-Tax Income Attributable to Noncontrolling Interests

 

(4,875)

 

 

-

 

 

(8,851)

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS

$

10,397

 

$

8,481

 

$

23,830

 

$

22,242

 

 

 

 

 

 

 

 

 

 

 

 

 

BASIC NET INCOME PER SHARE

$

0.62

 

$

0.51

 

$

1.42

 

$

1.33

DILUTED NET INCOME PER SHARE

$

0.62

 

$

0.50

 

$

1.42

 

$

1.32

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Common Basic Shares Outstanding

 

16,771

 

 

16,747

 

 

16,792

 

 

16,776

Average Common Diluted Shares Outstanding

 

16,810

 

 

16,795

 

 

16,823

 

 

16,810

 

 

 

 

 

 

 

 

 

 

 

 

 

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

5


 

CAPITAL CITY BANK GROUP, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

September 30,

 

September 30,

(Dollars in Thousands)

2020

 

2019

 

2020

 

2019

NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS

$

10,397

 

$

8,481

 

$

23,830

 

$

22,242

Other comprehensive income, before tax:

 

 

 

 

 

 

 

 

 

 

 

Change in net unrealized gain/loss on securities available for sale

 

(773)

 

 

443

 

 

3,189

 

 

3,427

Amortization of unrealized losses on securities transferred from

 

 

 

 

 

 

 

 

 

 

 

available for sale to held to maturity

 

10

 

 

11

 

 

28

 

 

33

Total Investment Securities

 

(763)

 

 

454

 

 

3,217

 

 

3,460

Change in net unrealized gain/loss on interest rate swap

 

157

 

 

-

 

 

52

 

 

-

Other comprehensive (loss) income, before tax

 

(606)

 

 

454

 

 

3,269

 

 

3,460

Deferred tax (benefit) expense related to other comprehensive income

 

(149)

 

 

115

 

 

801

 

 

876

Other comprehensive (loss) income, net of tax

 

(457)

 

 

339

 

 

2,468

 

 

2,584

Total comprehensive income attributable to common shareowners

$

9,940

 

$

8,820

 

$

26,298

 

$

24,826

 

 

 

 

 

 

 

 

 

 

 

 

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

6


 

CAPITAL CITY BANK GROUP, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREOWNERS' EQUITY

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

Comprehensive

 

 

 

 

Shares

Common

 

Paid-In

 

Retained

 

(Loss) Income,

 

 

 

(Dollars In Thousands, Except Share Data)

Outstanding

Stock

 

Capital

 

Earnings

 

Net of Taxes

 

Total

Balance, July 1, 2020

16,780,276

 

$

168

 

$

31,575

 

$

328,570

 

$

(25,256)

 

$

335,057

Net Income

-

 

 

-

 

 

-

 

 

10,397

 

 

-

 

 

10,397

Reclassification to Temporary Equity(1)

-

 

 

-

 

 

-

 

 

(3,075)

 

 

-

 

 

(3,075)

Other Comprehensive Income, net of tax

-

 

 

-

 

 

-

 

 

-

 

 

(457)

 

 

(457)

Cash Dividends ($0.1400 per share)

-

 

 

-

 

 

-

 

 

(2,347)

 

 

-

 

 

(2,347)

Repurchase of Common Stock

23,000

 

 

-

 

 

(472)

 

 

-

 

 

-

 

 

(472)

Stock Based Compensation

-

 

 

-

 

 

242

 

 

-

 

 

-

 

 

242

Stock Compensation Plan Transactions, net

4,188

 

 

-

 

 

80

 

 

-

 

 

-

 

 

80

Balance, September 30, 2020

16,761,464

 

$

168

 

$

31,425

 

$

333,545

 

$

(25,713)

 

$

339,425

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, July 1, 2019

16,745,866

 

$

167

 

$

30,751

 

$

310,247

 

$

(26,570)

 

$

314,595

Net Income

-

 

 

-

 

 

-

 

 

8,481

 

 

-

 

 

8,481

Other Comprehensive Income, net of tax

-

 

 

-

 

 

-

 

 

-

 

 

339

 

 

339

Cash Dividends ($0.1300 per share)

-

 

 

-

 

 

-

 

 

(2,177)

 

 

-

 

 

(2,177)

Stock Based Compensation

-

 

 

-

 

 

249

 

 

-

 

 

-

 

 

249

Stock Compensation Plan Transactions, net

2,992

 

 

-

 

 

75

 

 

-

 

 

-

 

 

75

Balance, September 30, 2019

16,748,858

 

$

167

 

$

31,075

 

$

316,551

 

$

(26,231)

 

$

321,562

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2020

16,771,544

 

$

168

 

$

32,092

 

$

322,937

 

$

(28,181)

 

$

327,016

Adoption of ASC 326 - See Note 1

-

 

 

-

 

 

-

 

 

(3,095)

 

 

-

 

 

(3,095)

Net Income

-

 

 

-

 

 

-

 

 

23,830

 

 

-

 

 

23,830

Reclassification to Temporary Equity(1)

-

 

 

-

 

 

-

 

 

(3,075)

 

 

-

 

 

(3,075)

Other Comprehensive Income, net of tax

-

 

 

-

 

 

-

 

 

-

 

 

2,468

 

 

2,468

Cash Dividends ($0.4200 per share)

-

 

 

-

 

 

-

 

 

(7,052)

 

 

-

 

 

(7,052)

Repurchase of Common Stock

99,952

 

 

(1)

 

 

(2,042)

 

 

-

 

 

-

 

 

(2,043)

Stock Based Compensation

-

 

 

-

 

 

610

 

 

-

 

 

-

 

 

610

Stock Compensation Plan Transactions, net

89,872

 

 

1

 

 

765

 

 

-

 

 

-

 

 

766

Balance, September 30, 2020

16,761,464

 

$

168

 

$

31,425

 

$

333,545

 

$

(25,713)

 

$

339,425

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2019

16,747,571

 

$

167

 

$

31,058

 

$

300,177

 

$

(28,815)

 

$

302,587

Net Income

-

 

 

-

 

 

-

 

 

22,242

 

 

-

 

 

22,242

Other Comprehensive Income, net of tax

-

 

 

-

 

 

-

 

 

-

 

 

2,584

 

 

2,584

Cash Dividends ($0.3500 per share)

-

 

 

-

 

 

-

 

 

(5,868)

 

 

-

 

 

(5,868)

Repurchase of Common Stock

(77,000)

 

 

(1)

 

 

(1,805)

 

 

-

 

 

-

 

 

(1,806)

Stock Based Compensation

-

 

 

-

 

 

1,134

 

 

-

 

 

-

 

 

1,134

Stock Compensation Plan Transactions, net

78,287

 

 

1

 

 

688

 

 

-

 

 

-

 

 

689

Balance, September 30, 2019

16,748,858

 

$

167

 

$

31,075

 

$

316,551

 

$

(26,231)

 

$

321,562

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)Adjustment to redemption value for non-controlling interest in Capital City Home Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

 

7


 

CAPITAL CITY BANK GROUP, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

 

 

 

 

 

 

Nine Months Ended September 30,

(Dollars in Thousands)

2020

 

2019

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

Net Income

$

23,830

 

$

22,242

Adjustments to Reconcile Net Income to

 

 

 

 

 

Cash Provided by Operating Activities:

 

 

 

 

 

Provision for Credit Losses

 

8,303

 

 

2,189

Depreciation

 

5,174

 

 

4,693

Amortization of Premiums, Discounts and Fees, net

 

5,256

 

 

3,826

Originations of Loans Held-for-Sale

 

(561,609)

 

 

(160,720)

Proceeds From Sales of Loans Held-for-Sale

 

500,190

 

 

158,293

Net Gain From Sales of Loans Held-for-Sale