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

Quarterly report pursuant to Section 13 or 15(d)

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
EMPLOYEE BENEFIT PLANS	Sep. 30, 2022
Employee Benefit Plans [Abstract]
Employee benefit plans	NOTE 7 - EMPLOYEE BENEFIT PLANS The Company has a defined benefit pension plan covering substantially all full-time and eligible part-time associates and a Supplemental Executive Retirement Plan (“SERP”) and a Supplemental Executive Retirement Plan II (“SERP II”) covering its executive officers. The defined benefit plan was amended in December 2019 to remove plan eligibility for new associates hired after December 31, 2019. The SERP II was adopted by the Company’s Board on May 21, 2020 and covers certain executive officers that were not covered by the SERP. The components of the net periodic benefit cost for the Company’s qualified benefit pension plan were as follows: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in Thousands) 2022 2021 2022 2021 Service Cost $ 1,572 $ 1,743 $ 4,717 $ 5,229 Interest Cost 1,166 1,221 3,499 3,664 Expected Return on Plan Assets (2,675) (2,787) (8,026) (8,361) Prior Service Cost Amortization 4 4 11 11 Net Loss Amortization 428 1,691 1,285 5,073 Pension Settlement 102 500 480 2,500 Net Periodic Benefit Cost $ 597 $ 2,372 $ 1,966 $ 8,116 Discount Rate 3.11% 2.88% 3.11% 2.88% Long-term Rate of Return on Assets 6.75% 6.75% 6.75% 6.75% The components of the net periodic benefit cost for the Company’s SERP and SERP II were as follows: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in Thousands) 2022 2021 2022 2021 Service Cost $ 8 $ 9 $ 24 $ 27 Interest Cost 79 61 237 183 Prior Service Cost Amortization 69 69 207 157 Net Loss Amortization 180 243 540 683 Net Periodic Benefit Cost $ 336 $ 382 $ 1,008 $ 1,050 Discount Rate 2.80% 2.38% 2.80% 2.38% The service cost component of net periodic benefit cost is reflected in compensation expense in the accompanying statements of income. The other components of net periodic cost are included in “other” within the noninterest expense category in the statements of income.