5
At December 31, 2023, our total risk-based capital ratio was 16.57% compared
to 16.30% at September 30, 2023 and 15.30% at
December 31, 2022.
Our common equity tier 1 capital ratio was 13.52%, 13.26%, and 12.38%, respectively,
on these dates.
Our
leverage ratio was 10.30%, 9.98%, and 8.91%, respectively,
on these dates.
At December 31, 2023, all our regulatory capital ratios
exceeded the thresholds
to be designated as “well-capitalized” under the Basel III capital standards.
Further, our tangible common
equity ratio was 8.26% at December 31, 2023 compared to 8.08% and 6.65% at
September 30, 2023 and December 31, 2022,
respectively.
If our unrealized held-to-maturity securities losses of $21.5 million (after-tax)
were recognized in accumulated other
comprehensive loss, our adjusted tangible capital ratio would be
7.74%.
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 103 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 impacts 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 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; risks related to changes
in key personnel and any changes in 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), acts of war, 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 financial
statements as of and for the year ended December
31, 2022, the three months ended March 31, 2022 and 2023, the three and six months
ended June 30, 2022 and 2023, and the three
and nine months ended September 30, 2022; any inability to implement
and maintain effective internal control over financial
reporting or inability to remediate our existing material weaknesses in our
internal controls deemed ineffective; the inherent
limitations in internal control over financial reporting and disclosure controls
and procedures; 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/A for the fiscal year ended December 31, 2022,
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.