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

PARENT COMPANY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2015

Note 20

PARENT COMPANY FINANCIAL INFORMATION

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)	2015			2014
ASSETS
Cash and Due From Subsidiary Bank	$	13,527		$	11,741
Investment in Subsidiary Bank		327,794			329,632
Other Assets		5,164			2,906
Total Assets	$	346,485		$	344,279

LIABILITIES
Subordinated Notes Payable	$	62,887		$	62,887
Other Liabilities		9,246			8,852
Total Liabilities		72,133			71,739

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; 17,156,919 and 17,447,223 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively		172			174
Additional Paid-In Capital		38,256			42,569
Retained Earnings		258,181			251,306
Accumulated Other Comprehensive Loss, Net of Tax		(22,257	)		(21,509	)
Total Shareowners Equity		274,352			272,540
Total Liabilities and Shareowners Equity	$	346,485		$	344,279

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)	2015			2014			2013
OPERATING INCOME
Income Received from Subsidiary Bank:
Overhead Fees	$	4,604		$	4,468		$	4,417
Dividends		9,200			6,000
Other Income		424			138			208
Total Operating Income		14,228			10,606			4,625

OPERATING EXPENSE
Salaries and Associate Benefits		3,395			3,156			3,130
Interest on Subordinated Notes Payable		1,368			1,328			1,419
Professional Fees		1,078			1,024			1,491
Advertising		105			141			142
Legal Fees		168			243			245
Other		699			624			1,117
Total Operating Expense		6,813			6,516			7,544
Earnings (Loss) Before Income Taxes and Equity in Undistributed Earnings of Subsidiary Bank		7,415			4,090			(2,919	)
Income Tax Benefit		(342	)		(433	)		(1,036	)
Earnings (Loss) Before Equity in Undistributed Earnings of Subsidiary Bank		7,757			4,523			(1,883	)
Equity in Undistributed Earnings of Subsidiary Bank		1,359			4,737			7,928
Net Income	$	9,116		$	9,260		$	6,045

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)	2015			2014			2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$	9,116		$	9,260		$	6,045
Adjustments to Reconcile Net Income to Net Cash Provided By (Used In) Operating Activities:
Equity in Undistributed Earnings of Subsidiary Bank		(1,359	)		(4,737	)		(7,928	)
Stock Compensation		1,109			1,349			1,296
Decrease in Other Assets		191			387			339
Increase (Decrease) in Other Liabilities		444			532			(1,755	)
Net Cash Provided By (Used In) Operating Activities		9,501			6,791			(2,003	)

CASH FROM FINANCING ACTIVITIES:
Dividends Paid		(2,241	)		(1,568	)
Issuance of Common Stock Under Compensation Plans		507			578			1,151
Payments to Repurchase Common Stock		(5,981	)		(269	)
Net Cash (Used In) Provided By in Financing Activities		(7,715	)		(1,259	)		1,151

Net Increase (Decrease) in Cash		1,786			5,532			(852	)
Cash at Beginning of Year		11,741			6,209			7,061
Cash at End of Year	$	13,527		$	11,741		$	6,209