Capital City Bank Group, Inc. Annual report pursuant to Section 13 and 15(d)

PARENT COMPANY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2014

The following are condensed statements of financial condition of the parent company at December 31:

Parent Company Statements of Financial Condition

(Dollars in Thousands, Except Per Share Data)	2014			2013
ASSETS
Cash and Due From Subsidiary Bank	$	11,741		$	6,209
Investment in Subsidiary Bank		329,632			337,809
Other Assets		2,906			3,347
Total Assets	$	344,279		$	347,365

LIABILITIES
Subordinated Notes Payable	$	62,887		$	62,887
Other Liabilities		8,852			8,078
Total Liabilities		71,739			70,965

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; 17,447,223 and 17,360,960 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively		174			174
Additional Paid-In Capital		42,569			41,152
Retained Earnings		251,306			243,614
Accumulated Other Comprehensive Loss, Net of Tax		(21,509	)		(8,540	)
Total Shareowners Equity		272,540			276,400
Total Liabilities and Shareowners Equity	$	344,279		$	347,365

The operating results of the parent company for the three years ended December 31 are shown below:

Parent Company Statements of Operations

(Dollars in Thousands)	2014			2013			2012
OPERATING INCOME
Income Received from Subsidiary Bank:
Overhead Fees	$	4,468		$	4,417		$	4,536
Dividends		6,000
Other Income		138			208			130
Total Operating Income		10,606			4,625			4,666

OPERATING EXPENSE
Salaries and Associate Benefits		3,156			3,130			2,059
Interest on Subordinated Notes Payable		1,328			1,419			1,477
Professional Fees		1,024			1,491			1,781
Advertising		141			142			140
Legal Fees		243			245			332
Other		624			1,117			478
Total Operating Expense		6,516			7,544			6,267
Earnings (Loss) Before Income Taxes and Equity in Undistributed Earnings of Subsidiary Bank		4,090			(2,919	)		(1,601	)
Income Tax Benefit		(433	)		(1,036	)		(10	)
Earnings (Loss) Before Equity in Undistributed Earnings of Subsidiary Bank		4,523			(1,883	)		(1,591	)
Equity in Undistributed Earnings of Subsidiary Bank		4,737			7,928			1,699
Net Income	$	9,260		$	6,045		$	108

The cash flows for the parent company for the three years ended December 31 were as follows:

Parent Company Statements of Cash Flows

(Dollars in Thousands)	2014			2013			2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$	9,260		$	6,045		$	108
Adjustments to Reconcile Net Income to Net Cash Provided By (Used In) Operating Activities:
Equity in Undistributed Earnings of Subsidiary Bank		(4,737	)		(7,928	)		(1,699	)
Stock Compensation		1,349			1,296			262
Decrease (Increase) in Other Assets		387			339			(491	)
Increase (Decrease) in Other Liabilities		532			(1,755	)		2,005
Net Cash Provided By (Used In) Operating Activities		6,791			(2,003	)		185

CASH FROM FINANCING ACTIVITIES:
Dividends Paid		(1,568	)
Issuance of Common Stock Under Compensation Plans		578			1,151			607
Payments to Repurchase Common Stock		(269	)
Net Cash (Used In) Provided By in Financing Activities		(1,259	)		1,151			607

Net Increase (Decrease) in Cash		5,532			(852	)		792
Cash at Beginning of Year		6,209			7,061			6,269
Cash at End of Year	$	11,741		$	6,209		$	7,061