Annual report pursuant to Section 13 and 15(d)

REGULATORY MATTERS

v3.22.4
REGULATORY MATTERS
12 Months Ended
Dec. 31, 2022
Regulatory matters [Abstract]  
REGULATORY MATTERS
Note 17
REGULATORY
 
MATTERS
Regulatory Capital Requirements
.
 
The Company (on a consolidated basis) and the Bank are subject to various regulatory
 
capital
requirements administered by the federal banking agencies.
 
Failure to meet minimum capital requirements can initiate certain
mandatory and possible additional discretionary actions by regulators that,
 
if undertaken, could have a direct material effect on
the Company and Bank’s financial statements.
 
Under
 
capital
 
adequacy guidelines
 
and the
 
regulatory framework
 
for
 
prompt
corrective action
,
the Company and the Bank must meet specific capital guidelines that involve quantitative
 
measures of their
assets, liabilities and certain off-balance sheet items as calculated under
 
regulatory accounting practices.
 
The capital amounts and
classification are also subject to qualitative judgments by the regulators about
 
components, risk weightings, and other factors.
 
Prompt corrective action provisions are not applicable to bank holding
 
companies.
 
A detailed description of these regulatory
capital requirements is provided in the section captioned “Regulatory
 
Considerations – Capital Regulations” section on page 15.
Management believes, at December 31, 2022 and 2021, that the Company
 
and the Bank meet all capital adequacy requirements to
which they are subject.
 
At December 31, 2022, the most recent notification from the Federal Deposit Insurance
 
Corporation
categorized the Bank as well capitalized under the regulatory framework for prompt
 
corrective action.
 
To be categorized as well
capitalized, an institution must maintain minimum common equity
 
Tier 1, total risk-based, Tier
 
1 risk based and Tier 1 leverage
ratios as set forth in the following tables.
 
There are not conditions or events since the notification that management believes have
changed the Bank’s category.
 
The Company and Bank’s actual capital
 
amounts and ratios at December 31, 2022 and 2021 are
presented in the following table.
To Be Well
 
-
Capitalized Under
Required
Prompt
For Capital
Corrective
Actual
Adequacy Purposes
Action Provisions
(Dollars in Thousands)
Amount
Ratio
Amount
Ratio
Amount
Ratio
2022
Common Equity Tier 1:
CCBG
$
 
342,246
12.64%
$
121,805
4.50%
*
*
CCB
365,616
13.51%
121,812
4.50%
$
175,950
6.50%
Tier 1 Capital:
CCBG
 
393,246
14.53%
162,406
6.00%
*
*
CCB
365,616
13.51%
162,415
6.00%
216,554
8.00%
Total
 
Capital:
CCBG
420,099
15.52%
216,542
8.00%
*
*
CCB
392,469
14.50%
216,554
8.00%
270,692
10.00%
Tier 1 Leverage:
CCBG
393,246
9.06%
173,546
4.00%
*
*
CCB
365,616
8.43%
173,505
4.00%
216,881
5.00%
2021
Common Equity Tier 1:
CCBG
$
 
310,947
13.86%
$
100,925
4.50%
*
*
CCB
346,959
15.50%
100,725
4.50%
$
145,491
6.50%
Tier 1 Capital:
CCBG
361,947
16.14%
134,566
6.00%
*
*
CCB
346,959
15.50%
134,300
6.00%
179,066
8.00%
Total
 
Capital:
CCBG
384,743
17.15%
179,422
8.00%
*
*
CCB
369,754
16.52%
179,066
8.00%
223,833
10.00%
Tier 1 Leverage:
CCBG
361,947
8.95%
161,749
4.00%
*
*
CCB
346,959
8.59%
161,515
4.00%
201,894
5.00%
*
 
Not applicable to bank holding companies.
Dividend Restrictions
.
 
In the ordinary course of business, the Company is dependent upon dividends
 
from its banking subsidiary
to provide funds for the payment of dividends to shareowners and to provide
 
for other cash requirements.
 
Banking regulations
may limit the amount of dividends that may be paid.
 
Approval by regulatory authorities is required if the effect of dividends
declared would cause the regulatory capital of the Company’s
 
banking subsidiary to fall below specified minimum levels.
 
Approval is also required if dividends declared exceed the net profits of
 
the banking subsidiary for that year combined with the
retained net profits for proceeding two years.
 
In 2023, the bank subsidiary may declare dividends without regulatory approval
 
of
$
47.0
 
million plus an additional amount equal to net profits of the Company’s
 
subsidiary bank for 2023 up to the date of any such
dividend declaration.