4
Capital
Shareowners’ equity was $394.0 million at December 31, 2022
compared to $373.2 million at September 30, 2022 and $383.2
million at December 31, 2021.
For the full year 2022, shareowners’ equity was positively impacted by net
income attributable to
common shareowners of $40.1 million, a $3.1 million increase in the
fair value of the interest rate swap related to subordinated debt,
stock compensation accretion of $1.3 million, net adjustments totaling
$1.6 million related to transactions under our stock
compensation plans, and an $8.7 million decrease in the accumulated
other comprehensive loss for our pension plan.
Shareowners’
equity was reduced by common stock dividends
of $11.2 million ($0.66 per share) and a $32.8 million
increase in the unrealized
loss on investment securities.
At December 31, 2022, our total risk-based capital ratio was 15.52%
compared to 15.75% at September 30, 2022 and 17.15% at
December 31, 2021.
Our common equity tier 1 capital ratio was 12.64%, 12.83%, and 13.86%,
respectively, on these
dates.
Our
leverage ratio was 9.06%, 8.91%, and 8.95%, respectively,
on these dates.
Further, our tangible common equity ratio was 6.79%
at
December 31, 2022 compared to 6.61% and 6.95% at September 30, 2022
and December 31, 2021, respectively.
The decline in our
regulatory capital ratios compared to 2021 was attributable to strong loan growth
during 2022.
At December 31, 2022, all of our
regulatory capital ratios exceeded the threshold to be designated as “well-capitalized”
under the Basel III capital standards.
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 $4.5 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 58 banking offices and 89 ATMs/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;
fluctuations in inflation, interest rates, or monetary and fiscal policies; the effects
of security breaches and computer viruses that may
affect our computer systems; the accuracy of our financial
statement estimates and assumptions; fraud related to debit card products;
changes in accounting principles, policies, practices, or guidelines; the frequency
and magnitude of foreclosure on our loans; the
effects of a non-diversified loan portfolio, including the
risks of geographic and industry concentrations; the strength of the U.S.
economy and the local economies where we conduct operations; our
ability to declare and pay dividends, the payment of which is
subject to our capital requirements; changes in the stock market and other
capital and real estate markets; structural changes in the
markets for origination, sale and servicing of residential mortgages; 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 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 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 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, 2021, 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