Annual report pursuant to Section 13 and 15(d)

QUARTERLY RESULTS OF OPERATIONS

v3.23.4
QUARTERLY RESULTS OF OPERATIONS
12 Months Ended
Dec. 31, 2022
Quarterly Results of Operations [Abstract]  
QUARTERLY RESULTS OF OPERATIONS
Note 24
QUARTERLY
 
RESULTS
 
OF OPERATIONS
 
(UNAUDITED)
As further described in Note 1, the previously reported financial information
 
for each of the quarters ended March 31, 2022, June
30, 2022 and September 30, 2022 have been restated and are reflected in the tables that
 
follow. See “Restatement of Previously
Issued Consolidated Financial Statements – Description of Misstatements”
 
in Note 1. The unaudited interim financial statements
reflect all adjustments that are, in the opinion of management, necessary for a fair statement of
 
the results for the interim periods
presented. Restated amounts are computed independently for each quarter
 
presented; therefore, the sum of the quarterly amounts
may not equal the total amount for the respective year due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF FINANCIAL CONDITION (Unaudited)
As Restated
(Dollars in Thousands, except per share data)
Mar 31, 2022
Jun 30, 2022
Sept 30, 2022
ASSETS:
Cash and Due From Banks
$
77,963
$
91,209
$
72,686
Federal Funds Sold and Interest Bearing Deposits
790,465
603,315
497,679
Total Cash and Cash Equivalents
868,428
694,524
570,365
Investment Securities Available
 
for Sale (amortized cost of $
655,927
,
$
643,679
, and $
461,646
)
624,361
601,405
416,745
Investment Securities Held to Maturity (fair value of $
501,277
 
and $
498,963
,
and $
623,628
)
518,678
528,258
676,178
Other Equity Securities
855
900
1,349
 
Total Investment Securities
 
1,143,894
1,130,563
1,094,272
Loans Held For Sale
46,256
24,986
23,162
Loans, Net of Unearned Income
1,988,660
2,235,252
2,369,785
Allowance for Loan Losses
(20,788)
(21,463)
(22,747)
Loans, Net
1,967,872
2,213,789
2,347,038
Premises and Equipment, Net
82,518
82,932
81,736
Goodwill
93,213
93,173
93,133
Other Real Estate Owned
17
90
13
Other Assets
106,330
111,270
118,272
Total Assets
$
4,308,528
$
4,351,327
$
4,327,991
LIABILITIES
Deposits:
Noninterest Bearing Deposits
$
1,704,329
$
1,724,671
$
1,737,046
Interest Bearing Deposits
2,061,178
2,061,587
2,022,332
Total Deposits
3,765,507
3,786,258
3,759,378
Short-Term
 
Borrowings
30,865
39,463
52,271
Subordinated Notes Payable
52,887
52,887
52,887
Other Long-Term
 
Borrowings
806
612
562
Other Liabilities
77,323
93,319
84,657
Total Liabilities
3,927,388
3,972,539
3,949,755
Temporary Equity
10,512
10,083
9,751
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;
16,947,602
,
16,959,280
, and $
16,961,812
 
shares issued and outstanding, respectively
169
170
170
Additional Paid-In Capital
35,188
35,738
36,234
Retained Earnings
369,014
373,562
380,284
Accumulated Other Comprehensive Loss, Net of Tax
(33,743)
(40,765)
(48,203)
Total Shareowners' Equity
370,628
368,705
368,485
 
Total Liabilities, Temporary
 
Equity, and Shareowners' Equity
$
4,308,528
$
4,351,327
$
4,327,991
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF INCOME (Unaudited)
As Restated
For Three Months Ended
(Dollars in thousands, except per share data)
Mar 31,
2022
Jun 30,
2022
Sept 30,
2022
INTEREST INCOME
Loans, Including Fees
$
22,429
$
24,268
$
27,839
Investment Securities:
Taxable Securities
2,890
3,833
4,360
Tax Exempt Securities
6
7
12
Funds Sold
409
1,408
3,231
Total Interest Income
25,734
29,516
35,442
INTEREST EXPENSE
Deposits
224
266
1,052
Short-Term
 
Borrowings
192
343
536
Subordinated Notes Payable
317
370
443
Other Long-Term
 
Borrowings
9
8
6
Total Interest Expense
742
987
2,037
Net Interest Income
24,992
28,529
33,405
Provision for Loan Losses
32
1,692
2,154
Net Interest Income After Provision For Loan Losses
24,960
26,837
31,251
NONINTEREST INCOME
Deposit Fees
5,191
5,447
5,947
Bank Card Fees
3,763
4,034
3,860
Wealth Management
 
Fees
6,070
4,403
3,937
Mortgage Banking Fees
4,055
4,857
2,895
Other
 
1,733
1,823
1,870
Total Noninterest
 
Income
20,812
20,564
18,509
NONINTEREST EXPENSE
Compensation
22,298
23,222
22,967
Occupancy, Net
6,093
6,075
6,153
Other
 
8,132
8,853
8,579
Total Noninterest
 
Expense
36,523
38,150
37,699
INCOME BEFORE INCOME TAXES
9,249
9,251
12,061
Income Tax Expense
1,720
1,685
2,493
NET INCOME
7,529
7,566
9,568
Pre-Tax Income
 
Attributable to Noncontrolling Interests
(591)
(306)
37
NET INCOME ATTRIBUTABLE
 
TO COMMON SHAREOWNERS
$
6,938
$
7,260
$
9,605
BASIC NET INCOME PER SHARE
$
0.41
$
0.43
$
0.57
DILUTED NET INCOME PER SHARE
$
0.41
$
0.43
$
0.57
AVERAGE
 
SHARES:
Basic
 
16,931
16,949
16,960
Diluted
 
16,946
16,971
16,996
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF COMPREHENSIVE (LOSS) INCOME (Unaudited)
As Restated
For Three Months Ended
(Dollars in thousands, except per share data)
Mar 31,
2022
Jun 30,
2022
Sept 30,
2022
NET INCOME
$
6,938
$
7,260
$
9,605
Other comprehensive income (loss), before
 
tax:
Investment Securities:
Change in net unrealized (loss) gain on securities available for sale
(25,445)
(10,714)
(2,618)
Unrealized losses on securities transferred from available for sale to held
 
to
maturity
-
-
(9,384)
Amortization of unrealized losses on securities transferred from available
 
for sale to
held to maturity
-
-
586
Total Investment
 
Securities
(25,445)
(10,714)
(11,416)
Derivative:
Change in net unrealized gain on effective cash flow
 
derivative
1,836
1,161
1,407
Benefit Plans:
Defined benefit plan settlement
209
169
102
 
Total Benefit Plans
209
169
102
Other comprehensive income (loss), before
 
tax:
(23,400)
(9,384)
(9,907)
Deferred tax (benefit) expense related to other comprehensive income
(5,871)
(2,362)
(2,469)
Other comprehensive income (loss), net of tax
(17,529)
(7,022)
(7,438)
TOTAL COMPREHENSIVE
 
(LOSS) INCOME
$
(10,591)
$
238
$
2,167
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF CHANGES IN SHAREOWNERS' EQUITY (Unaudited)
As Restated
For Three Months Ended March 31, 2022
(Dollars in thousands, except per share data)
Shares
Outstanding
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Loss, Net of
Taxes
Total
 
Balance, January 1, 2022, as restated
16,892,060
$
169
$
34,423
$
364,788
$
(16,214)
$
383,166
Net Income Attributable to Common Shareowners
-
-
-
6,938
-
6,938
Other Comprehensive Loss, Net of Tax
-
-
-
-
(17,529)
(17,529)
Cash Dividends ($
0.16
 
per share)
-
-
-
(2,712)
-
(2,712)
Stock Based Compensation
-
-
245
-
-
245
Stock Compensation Plan Transactions, net
55,542
520
-
-
520
Balance, March 31, 2022, as restated
16,947,602
$
169
$
35,188
$
369,014
$
(33,743)
$
370,628
As Restated
For Six Months Ended June 30, 2022
(Dollars in thousands, except per share data)
Shares
Outstanding
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Loss, Net of
Taxes
Total
 
Balance, January 1, 2022, as restated
16,892,060
$
169
$
34,423
$
364,788
$
(16,214)
$
383,166
Net Income
-
-
-
14,198
-
14,198
Other Comprehensive Loss, Net of Tax
-
-
-
-
(24,551)
(24,551)
Cash Dividends ($
0.32
 
per share)
-
-
-
(5,424)
-
(5,424)
Stock Based Compensation
-
-
489
-
-
489
Stock Compensation Plan Transactions, net
67,220
1
826
-
-
827
Balance, June 30, 2022, as restated
16,959,280
$
170
$
35,738
$
373,562
$
(40,765)
$
368,705
As Restated
For Nine Months Ended
 
September 30, 2022
(Dollars in thousands, except per share data)
Shares
Outstanding
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Loss, Net of
Taxes
Total
 
Balance, January 1, 2022
16,892,060
$
169
$
34,423
$
364,788
$
(16,214)
$
383,166
Net Income
-
-
-
23,803
-
23,803
Other Comprehensive Loss, Net of Tax
-
-
-
-
(31,989)
(31,989)
Cash Dividends ($
0.49
 
per share)
-
-
-
(8,307)
-
(8,307)
Stock Based Compensation
-
-
904
-
904
Stock Compensation Plan Transactions, net
69,752
1
907
-
908
Balance, September 30, 2022
16,961,812
$
170
$
36,234
$
380,284
$
(48,203)
$
368,485
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF CASH FLOWS (Unaudited)
As Restated
(Dollars in Thousands)
For Three
Months
Ended
 
Mar 31, 2022
For Six
Months
Ended
 
Jun 30, 2022
For Nine
Months
Ended
 
Sept 30, 2022
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income Attributable to Common Shareowners
$
6,938
$
14,198
$
23,803
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
32
1,724
3,878
 
Depreciation
1,907
3,802
5,689
 
Amortization of Premiums, Discounts, and Fees, net
2,610
5,053
6,618
 
Amortization of Intangible Assets
40
80
120
 
Pension Settlement Charge
209
378
480
 
Originations of Loans Held-for-Sale
(242,253)
(549,018)
(772,089)
 
Proceeds From Sales of Loans Held-for-Sale
252,584
585,476
813,267
 
Mortgage Banking Revenues
(4,055)
(8,912)
(11,807)
 
Net Additions for Capitalized Mortgage Servicing Rights
364
360
570
 
Stock Compensation
245
489
904
 
Net Tax Benefit From Stock-Based
 
Compensation
(19)
(19)
(19)
 
Deferred Income Taxes (Benefit)
(6,682)
(9,887)
(12,854)
 
Net Change in Operating Leases
(27)
(72)
(83)
 
Net (Gain) Loss on Sales and Write-Downs of Other Real Estate Owned
-
(26)
(136)
 
Net Decrease (Increase) in Other Assets
1,897
3,516
3,696
 
Net (Decrease) Increase in Other Liabilities
7,036
22,040
12,839
Net Cash Provided (Used In) By Operating Activities
20,826
69,182
74,876
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Purchases
(194,448)
(218,548)
(219,865)
 
Payments, Maturities, and Calls
14,441
28,111
40,096
 
Purchases
(25,139)
(37,044)
(41,880)
 
Proceeds from Sale of Securities
3,365
3,365
3,365
 
Payments, Maturities, and Calls
24,824
47,413
64,301
Purchase of loans held for investment
(26,713)
(174,779)
(329,481)
Net Increase in Loans Held for Investment
(31,260)
(130,913)
(113,116)
Proceeds From Sales of Other Real Estate Owned
-
30
1,683
Purchases of Premises and Equipment
(1,013)
(3,322)
(4,013)
Noncontrolling interest contributions received
1,838
2,573
2,867
Net Cash Used In Investing Activities
(234,105)
(483,114)
(596,043)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Increase in Deposits
52,645
73,396
46,516
Net (Decrease) Increase in Other Short-Term
 
Borrowings
(3,692)
4,784
17,592
Repayment of Other Long-Term
 
Borrowings
(78)
(150)
(200)
Dividends Paid
(2,712)
(5,424)
(8,307)
Issuance of Common Stock Under Compensation Plans
190
496
577
Net Cash Provided By Financing Activities
46,353
73,102
56,178
NET DECREASE IN CASH AND CASH EQUIVALENTS
(166,926)
(340,830)
(464,989)
Cash and Cash Equivalents at Beginning of Period
 
1,035,354
1,035,354
1,035,354
Cash and Cash Equivalents at End of Period
 
$
868,428
$
694,524
$
570,365
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
715
$
1,617
$
3,588
 
Income Taxes Paid
$
20
$
3,765
$
6,410
Noncash Investing and Financing Activities:
 
Loans and Premises Transferred to Other Real Estate Owned
$
-
$
77
$
1,543
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF FINANCIAL CONDITION (Unaudited)
As of March 31, 2022
(Dollars in Thousands, except per share data)
As
Previously
Reported
Restatement
Impact
As
Restated
ASSETS:
Cash and Due From Banks
$
77,963
$
-
$
77,963
Federal Funds Sold and Interest Bearing Deposits
790,465
-
790,465
Total Cash and Cash Equivalents
868,428
-
868,428
Investment Securities Available
 
for Sale (amortized cost of $
655,927
)
624,361
-
624,361
Investment Securities Held to Maturity (fair value of $
501,277
)
518,678
-
518,678
Other Equity Securities
855
-
855
 
Total Investment Securities
 
1,143,894
-
1,143,894
Loans Held For Sale
50,815
(4,559)
46,256
Loans, Net of Unearned Income
1,985,509
3,151
1,988,660
Allowance for Loan Losses
(20,756)
(32)
(20,788)
Loans, Net
1,964,753
3,119
1,967,872
Premises and Equipment, Net
82,518
-
82,518
Goodwill
93,213
-
93,213
Other Real Estate Owned
17
-
17
Other Assets
106,407
(77)
106,330
Total Assets
$
4,310,045
$
(1,517)
$
4,308,528
LIABILITIES
Deposits:
Noninterest Bearing Deposits
$
1,704,329
$
-
$
1,704,329
Interest Bearing Deposits
2,061,178
-
2,061,178
Total Deposits
3,765,507
-
3,765,507
Short-Term
 
Borrowings
30,865
-
30,865
Subordinated Notes Payable
52,887
-
52,887
Other Long-Term
 
Borrowings
806
-
806
Other Liabilities
77,323
-
77,323
Total Liabilities
3,927,388
-
3,927,388
Temporary Equity
10,512
-
10,512
SHAREOWNERS' EQUITY
Preferred Stock: $
.01
 
par value,
3,000,000
 
shares authorized
no
 
shares issues and outstanding
-
-
-
Common Stock, $
.01
 
par value,
90,000,000
 
shares authorized
16,947,602
 
shares issued and outstanding
169
-
169
Additional Paid-In Capital
35,188
-
35,188
Retained Earnings
370,531
(1,517)
369,014
Accumulated Other Comprehensive Loss, Net of Tax
(33,743)
-
(33,743)
Total Shareowners' Equity
372,145
(1,517)
370,628
 
Total Liabilities, Temporary
 
Equity, and Shareowners' Equity
$
4,310,045
$
(1,517)
$
4,308,528
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF FINANCIAL CONDITION (Unaudited)
As of June 30, 2022
(Dollars in Thousands, except per share data)
As
Previously
Reported
Restatement
Impact
As
Restated
ASSETS:
Cash and Due From Banks
$
91,209
$
-
$
91,209
Federal Funds Sold and Interest Bearing Deposits
603,315
-
603,315
Total Cash and Cash Equivalents
694,524
-
694,524
Investment Securities Available
 
for Sale (amortized cost of $
643,679
)
601,405
-
601,405
Investment Securities Held to Maturity (fair value of $
498,963
)
528,258
-
528,258
Other Equity Securities
900
-
900
 
Total Investment Securities
 
1,130,563
-
1,130,563
Loans Held For Sale
48,708
(23,722)
24,986
Loans, Net of Unearned Income
2,213,653
21,599
2,235,252
Allowance for Loan Losses
(21,281)
(182)
(21,463)
Loans, Net
2,192,372
21,417
2,213,789
Premises and Equipment, Net
82,932
-
82,932
Goodwill
93,173
-
93,173
Other Real Estate Owned
90
-
90
Other Assets
111,935
(665)
111,270
Total Assets
$
4,354,297
$
(2,970)
$
4,351,327
LIABILITIES
Deposits:
Noninterest Bearing Deposits
$
1,724,671
$
-
$
1,724,671
Interest Bearing Deposits
2,061,587
-
2,061,587
Total Deposits
3,786,258
-
3,786,258
Short-Term
 
Borrowings
39,463
-
39,463
Subordinated Notes Payable
52,887
-
52,887
Other Long-Term
 
Borrowings
612
-
612
Other Liabilities
93,319
-
93,319
Total Liabilities
3,972,539
-
3,972,539
Temporary Equity
10,083
-
10,083
SHAREOWNERS' EQUITY
Preferred Stock: $
.01
 
par value,
3,000,000
 
shares authorized
no
 
shares issues and outstanding
-
-
-
Common Stock, $
.01
 
par value,
90,000,000
 
shares authorized
16,959,280
 
shares issued and outstanding
170
-
170
Additional Paid-In Capital
35,738
-
35,738
Retained Earnings
376,532
(2,970)
373,562
Accumulated Other Comprehensive Loss, Net of Tax
(40,765)
-
(40,765)
Total Shareowners' Equity
371,675
(2,970)
368,705
 
Total Liabilities, Temporary
 
Equity, and Shareowners' Equity
$
4,354,297
$
(2,970)
$
4,351,327
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF FINANCIAL CONDITION (Unaudited)
As of September 30, 2022
(Dollars in Thousands, except per share data)
As
Previously
Reported
Restatement
Impact
As
Restated
ASSETS:
Cash and Due From Banks
$
72,686
$
-
$
72,686
Federal Funds Sold and Interest Bearing Deposits
497,679
-
497,679
Total Cash and Cash Equivalents
570,365
-
570,365
Investment Securities Available
 
for Sale (amortized cost of $
461,646
)
416,745
-
416,745
Investment Securities Held to Maturity (fair value of $
623,628
)
676,178
-
676,178
Other Equity Securities
1,349
-
1,349
 
Total Investment Securities
 
1,094,272
-
1,094,272
Loans Held For Sale
50,304
(27,142)
23,162
Loans, Net of Unearned Income
2,346,185
23,600
2,369,785
Allowance for Loan Losses
(22,510)
(237)
(22,747)
Loans, Net
2,323,675
23,363
2,347,038
Premises and Equipment, Net
81,736
-
81,736
Goodwill
93,133
-
93,133
Other Real Estate Owned
13
-
13
Other Assets
119,173
(901)
118,272
Total Assets
$
4,332,671
$
(4,680)
$
4,327,991
LIABILITIES
Deposits:
Noninterest Bearing Deposits
$
1,737,046
$
-
$
1,737,046
Interest Bearing Deposits
2,022,332
-
2,022,332
Total Deposits
3,759,378
-
3,759,378
Short-Term
 
Borrowings
52,271
-
52,271
Subordinated Notes Payable
52,887
-
52,887
Other Long-Term
 
Borrowings
562
-
562
Other Liabilities
84,657
-
84,657
Total Liabilities
3,949,755
-
3,949,755
Temporary Equity
9,751
-
9,751
SHAREOWNERS' EQUITY
Preferred Stock: $
.01
 
par value,
3,000,000
 
shares authorized
no
 
shares issues and outstanding
-
-
-
Common Stock, $
.01
 
par value,
90,000,000
 
shares authorized
16,961,812
 
shares issued and outstanding
170
-
170
Additional Paid-In Capital
36,234
-
36,234
Retained Earnings
384,964
(4,680)
380,284
Accumulated Other Comprehensive Loss, Net of Tax
(48,203)
-
(48,203)
Total Shareowners' Equity
373,165
(4,680)
368,485
 
Total Liabilities, Temporary
 
Equity, and Shareowners' Equity
$
4,332,671
$
(4,680)
$
4,327,991
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF INCOME (Unaudited)
For Three Months Ended March 31, 2022
(Dollars in thousands, except per share data)
As Previously
Reported
Restatement
Impact
As Restated
INTEREST INCOME
Loans, Including Fees
$
22,133
$
296
$
22,429
Taxable Securities
2,890
-
2,890
Tax Exempt Securities
6
-
6
Funds Sold
409
-
409
Total Interest Income
25,438
296
25,734
INTEREST EXPENSE
Deposits
224
-
224
Short-Term
 
Borrowings
192
-
192
Subordinated Notes Payable
317
-
317
Other Long-Term
 
Borrowings
9
-
9
Total Interest Expense
742
-
742
Net Interest Income
24,696
296
24,992
Provision for Loan Losses
-
32
32
Net Interest Income After Provision For Loan Losses
24,696
264
24,960
NONINTEREST INCOME
Deposit Fees
5,191
-
5,191
Bank Card Fees
3,763
-
3,763
Wealth Management
 
Fees
6,070
-
6,070
Mortgage Banking Fees
8,946
(4,891)
4,055
Other
 
1,848
(115)
1,733
Total Noninterest
 
Income
25,818
(5,006)
20,812
NONINTEREST EXPENSE
Compensation
24,856
(2,558)
22,298
Occupancy, Net
6,093
-
6,093
Other Real Estate, Net
25
-
25
Pension Settlement
 
209
-
209
Other
 
8,050
(152)
7,898
Total Noninterest
 
Expense
39,233
(2,710)
36,523
INCOME BEFORE INCOME TAXES
11,281
(2,032)
9,249
Income Tax Expense
2,235
(515)
1,720
NET INCOME
9,046
(1,517)
7,529
Pre-Tax Income
 
Attributable to Noncontrolling Interests
(591)
-
(591)
NET INCOME ATTRIBUTABLE
 
TO COMMON SHAREOWNERS
$
8,455
$
(1,517)
$
6,938
BASIC NET INCOME PER SHARE
$
0.50
$
(0.09)
$
0.41
DILUTED NET INCOME PER SHARE
$
0.50
$
(0.09)
$
0.41
AVERAGE
 
SHARES:
Basic
 
16,931
-
16,931
Diluted
 
16,946
-
16,946
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF INCOME (Unaudited)
For Three Months Ended June 30, 2022
(Dollars in thousands, except per share data)
As Previously
Reported
Restatement
Impact
As Restated
INTEREST INCOME
Loans, Including Fees
$
24,072
$
196
$
24,268
Taxable Securities
3,833
-
3,833
Tax Exempt Securities
7
-
7
Funds Sold
1,408
-
1,408
Total Interest Income
29,320
196
29,516
INTEREST EXPENSE
Deposits
266
-
266
Short-Term
 
Borrowings
343
-
343
Subordinated Notes Payable
370
-
370
Other Long-Term
 
Borrowings
8
-
8
Total Interest Expense
987
-
987
Net Interest Income
28,333
196
28,529
Provision for Loan Losses
1,542
150
1,692
Net Interest Income After Provision For Loan Losses
26,791
46
26,837
NONINTEREST INCOME
Deposit Fees
5,447
-
5,447
Bank Card Fees
4,034
-
4,034
Wealth Management
 
Fees
4,403
-
4,403
Mortgage Banking Fees
9,065
(4,208)
4,857
Other
 
1,954
(131)
1,823
Total Noninterest
 
Income
24,903
(4,339)
20,564
NONINTEREST EXPENSE
Compensation
25,383
(2,161)
23,222
Occupancy, Net
6,075
-
6,075
Other Real Estate, Net
(29)
-
(29)
Pension Settlement
 
169
-
169
Other
 
8,900
(187)
8,713
Total Noninterest
 
Expense
40,498
(2,348)
38,150
INCOME BEFORE INCOME TAXES
11,196
(1,945)
9,251
Income Tax Expense
2,177
(492)
1,685
NET INCOME
9,019
(1,453)
7,566
Pre-Tax Income
 
Attributable to Noncontrolling Interests
(306)
-
(306)
NET INCOME ATTRIBUTABLE
 
TO COMMON SHAREOWNERS
$
8,713
$
(1,453)
$
7,260
BASIC NET INCOME PER SHARE
$
0.51
$
(0.08)
$
0.43
DILUTED NET INCOME PER SHARE
$
0.51
$
(0.08)
$
0.43
AVERAGE
 
SHARES:
Basic
 
16,949
-
16,949
Diluted
 
16,971
-
16,971
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF INCOME (Unaudited)
For Six Months Ended June 30, 2022
(Dollars in thousands, except per share data)
As Previously
Reported
Restatement
Impact
As Restated
INTEREST INCOME
Loans, Including Fees
$
46,205
$
492
$
46,697
Taxable Securities
6,723
-
6,723
Tax Exempt Securities
13
-
13
Funds Sold
1,817
-
1,817
Total Interest Income
54,758
492
55,250
INTEREST EXPENSE
Deposits
490
-
490
Short-Term
 
Borrowings
535
-
535
Subordinated Notes Payable
687
-
687
Other Long-Term
 
Borrowings
17
-
17
Total Interest Expense
1,729
-
1,729
Net Interest Income
53,029
492
53,521
Provision for Loan Losses
1,542
182
1,724
Net Interest Income After Provision For Loan Losses
51,487
310
51,797
NONINTEREST INCOME
Deposit Fees
10,638
-
10,638
Bank Card Fees
7,797
-
7,797
Wealth Management
 
Fees
10,473
-
10,473
Mortgage Banking Fees
18,011
(9,099)
8,912
Other
 
3,802
(246)
3,556
Total Noninterest
 
Income
50,721
(9,345)
41,376
NONINTEREST EXPENSE
Compensation
50,239
(4,719)
45,520
Occupancy, Net
12,168
-
12,168
Other
 
17,324
(339)
16,985
Total Noninterest
 
Expense
79,731
(5,058)
74,673
INCOME BEFORE INCOME TAXES
22,477
(3,977)
18,500
Income Tax Expense
4,412
(1,007)
3,405
NET INCOME
18,065
(2,970)
15,095
Pre-Tax Income
 
Attributable to Noncontrolling Interests
(897)
-
(897)
NET INCOME ATTRIBUTABLE
 
TO COMMON SHAREOWNERS
$
17,168
$
(2,970)
$
14,198
BASIC NET INCOME PER SHARE
$
1.01
$
(0.17)
$
0.84
DILUTED NET INCOME PER SHARE
$
1.01
$
(0.17)
$
0.84
AVERAGE
 
SHARES:
Basic
 
16,940
-
16,940
Diluted
 
16,958
-
16,958
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF INCOME (Unaudited)
For Three Months Ended September 30,
2022
(Dollars in thousands, except per share data)
As Previously
Reported
Restatement
Impact
As Restated
INTEREST INCOME
Loans, Including Fees
$
27,761
$
78
$
27,839
Taxable Securities
4,360
-
4,360
Tax Exempt Securities
12
-
12
Funds Sold
3,231
-
3,231
Total Interest Income
35,364
78
35,442
INTEREST EXPENSE
Deposits
1,052
-
1,052
Short-Term
 
Borrowings
536
-
536
Subordinated Notes Payable
443
-
443
Other Long-Term
 
Borrowings
6
-
6
Total Interest Expense
2,037
-
2,037
Net Interest Income
33,327
78
33,405
Provision for Loan Losses
2,099
55
2,154
Net Interest Income After Provision For Loan Losses
31,228
23
31,251
NONINTEREST INCOME
Deposit Fees
5,947
-
5,947
Bank Card Fees
3,860
-
3,860
Wealth Management
 
Fees
3,937
-
3,937
Mortgage Banking Fees
7,116
(4,221)
2,895
Other
 
2,074
(204)
1,870
Total Noninterest
 
Income
22,934
(4,425)
18,509
NONINTEREST EXPENSE
Compensation
24,738
(1,771)
22,967
Occupancy, Net
6,153
-
6,153
Other
 
8,919
(340)
8,579
Total Noninterest
 
Expense
39,810
(2,111)
37,699
INCOME BEFORE INCOME TAXES
14,352
(2,291)
12,061
Income Tax Expense
3,074
(581)
2,493
NET INCOME
11,278
(1,710)
9,568
Pre-Tax Income
 
Attributable to Noncontrolling Interests
37
-
37
NET INCOME ATTRIBUTABLE
 
TO COMMON SHAREOWNERS
$
11,315
$
(1,710)
$
9,605
BASIC NET INCOME PER SHARE
$
0.67
$
(0.10)
$
0.57
DILUTED NET INCOME PER SHARE
$
0.67
$
(0.10)
$
0.57
AVERAGE
 
SHARES:
Basic
 
16,960
-
16,960
Diluted
 
16,996
-
16,996
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF INCOME (Unaudited)
For Nine Months Ended September 30, 2022
(Dollars in thousands, except per share data)
As Previously
Reported
Restatement
Impact
As Restated
INTEREST INCOME
Loans, Including Fees
$
73,966
$
570
$
74,536
Taxable Securities
11,083
-
11,083
Tax Exempt Securities
25
-
25
Funds Sold
5,048
-
5,048
Total Interest Income
90,122
570
90,692
INTEREST EXPENSE
Deposits
1,542
-
1,542
Short-Term
 
Borrowings
1,071
-
1,071
Subordinated Notes Payable
1,130
-
1,130
Other Long-Term
 
Borrowings
23
-
23
Total Interest Expense
3,766
-
3,766
Net Interest Income
86,356
570
86,926
Provision for Loan Losses
3,641
237
3,878
Net Interest Income After Provision For Loan Losses
82,715
333
83,048
NONINTEREST INCOME
Deposit Fees
16,585
-
16,585
Bank Card Fees
11,657
-
11,657
Wealth Management
 
Fees
14,410
-
14,410
Mortgage Banking Fees
25,127
(13,320)
11,807
Other
 
5,876
(450)
5,426
Total Noninterest
 
Income
73,655
(13,770)
59,885
NONINTEREST EXPENSE
Compensation
74,977
(6,490)
68,487
Occupancy, Net
18,321
-
18,321
Other
 
26,243
(679)
25,564
Total Noninterest
 
Expense
119,541
(7,169)
112,372
INCOME BEFORE INCOME TAXES
36,829
(6,268)
30,561
Income Tax Expense
7,486
(1,588)
5,898
NET INCOME
29,343
(4,680)
24,663
Pre-Tax Income
 
Attributable to Noncontrolling Interests
(860)
-
(860)
NET INCOME ATTRIBUTABLE
 
TO COMMON SHAREOWNERS
$
28,483
$
(4,680)
$
23,803
BASIC NET INCOME PER SHARE
$
1.68
$
(0.28)
$
1.40
DILUTED NET INCOME PER SHARE
$
1.68
$
(0.28)
$
1.40
AVERAGE
 
SHARES:
Basic
 
16,947
-
16,947
Diluted
 
16,973
-
16,973
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF COMPREHENSIVE (LOSS) INCOME (Unaudited)
For Three Months Ended March 31, 2022
(Dollars in thousands, except per share data)
As Previously
Reported
Restatement
Impact
As Restated
NET INCOME
$
8,455
$
(1,517)
$
6,938
Other comprehensive income (loss), before
 
tax:
Investment Securities:
Change in net unrealized (loss) gain on securities available for sale
(25,445)
-
(25,445)
Derivative:
Change in net unrealized gain on effective cash flow
 
derivative
1,836
-
1,836
Benefit Plans:
Defined benefit plan settlement
209
-
209
 
Total Benefit Plans
209
-
209
Other comprehensive income (loss), before
 
tax:
(23,400)
-
(23,400)
Deferred tax (benefit) expense related to other comprehensive income
(5,871)
-
(5,871)
Other comprehensive income (loss), net of tax
(17,529)
-
(17,529)
TOTAL COMPREHENSIVE
 
(LOSS) INCOME
$
(9,074)
$
(1,517)
$
(10,591)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF COMPREHENSIVE (LOSS) INCOME (Unaudited)
For Three Months Ended June 30, 2022
(Dollars in thousands, except per share data)
As Previously
Reported
Restatement
Impact
As Restated
NET INCOME
$
8,713
$
(1,453)
$
7,260
Other comprehensive income (loss), before
 
tax:
Investment Securities:
Change in net unrealized (loss) gain on securities available for sale
(10,714)
-
(10,714)
Derivative:
Change in net unrealized gain on effective cash flow
 
derivative
1,161
-
1,161
Benefit Plans:
Defined benefit plan settlement
169
-
169
 
Total Benefit Plans
169
-
169
Other comprehensive income (loss), before
 
tax:
(9,384)
-
(9,384)
Deferred tax (benefit) expense related to other comprehensive income
(2,362)
-
(2,362)
Other comprehensive income (loss), net of tax
(7,022)
-
(7,022)
TOTAL COMPREHENSIVE
 
INCOME (LOSS)
$
1,691
$
(1,453)
$
238
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF COMPREHENSIVE (LOSS) INCOME (Unaudited)
For Six Months Ended June 30, 2022
(Dollars in thousands, except per share data)
As Previously
Reported
Restatement
Impact
As Restated
NET INCOME
$
17,168
$
(2,970)
$
14,198
Other comprehensive income (loss), before
 
tax:
Investment Securities:
Change in net unrealized (loss) gain on securities available for sale
(36,158)
-
(36,158)
Derivative:
Change in net unrealized gain on effective cash flow
 
derivative
2,997
-
2,997
Benefit Plans:
Defined benefit plan settlement
378
-
378
 
Total Benefit Plans
378
-
378
Other comprehensive income (loss), before
 
tax:
(32,783)
-
(32,783)
Deferred tax (benefit) expense related to other comprehensive income
(8,232)
-
(8,232)
Other comprehensive income (loss), net of tax
(24,551)
-
(24,551)
TOTAL COMPREHENSIVE
 
(LOSS) INCOME
$
(7,383)
$
(2,970)
$
(10,353)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF COMPREHENSIVE (LOSS) INCOME (Unaudited)
For Three Months Ended September 30, 2022
(Dollars in thousands, except per share data)
As Previously
Reported
Restatement
Impact
As Restated
NET INCOME
$
11,315
$
(1,710)
$
9,605
Other comprehensive income (loss), before
 
tax:
Investment Securities:
Change in net unrealized (loss) gain on securities available for sale
(2,618)
-
(2,618)
Unrealized losses on securities transferred from available for sale to held
 
to
maturity
(9,384)
-
(9,384)
Amortization of unrealized losses on securities transferred from available
 
for
sale to held to maturity
586
-
586
Derivative:
Change in net unrealized gain on effective cash flow
 
derivative
1,407
-
1,407
Benefit Plans:
Defined benefit plan settlement
102
-
102
 
Total Benefit Plans
102
-
102
Other comprehensive income (loss), before
 
tax:
(9,907)
-
(9,907)
Deferred tax (benefit) expense related to other comprehensive income
(2,469)
-
(2,469)
Other comprehensive income (loss), net of tax
(7,438)
-
(7,438)
TOTAL COMPREHENSIVE
 
INCOME (LOSS)
$
3,877
$
(1,710)
$
2,167
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF COMPREHENSIVE INCOME (Unaudited)
For Nine Months Ended September 30, 2022
(Dollars in thousands, except per share data)
As Previously
Reported
Restatement
Impact
As Restated
NET INCOME
$
28,483
$
(4,680)
$
23,803
Other comprehensive income (loss), before
 
tax:
Investment Securities:
Change in net unrealized (loss) gain on securities available for sale
(38,778)
-
(38,778)
Unrealized losses on securities transferred from available for sale to held
 
to
maturity
(9,384)
-
(9,384)
Amortization of unrealized losses on securities transferred from available
 
for
sale to held to maturity
586
-
586
Derivative:
Change in net unrealized gain on effective cash flow
 
derivative
4,403
-
4,403
Benefit Plans:
Defined benefit plan settlement
480
-
480
 
Total Benefit Plans
480
-
480
Other comprehensive income (loss), before
 
tax:
(42,693)
-
(42,693)
Deferred tax expense (benefit) related to other comprehensive income
10,704
-
10,704
Other comprehensive income (loss), net of tax
(31,989)
-
(31,989)
TOTAL COMPREHENSIVE
 
INCOME
$
(3,506)
$
(4,680)
$
(8,186)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CHANGES IN SHAREOWNERS' EQUITY (Unaudited)
(Dollars in thousands, except per share data)
Shares
Outstanding
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Loss, Net of
Taxes
Total
 
As Previously Reported
Balance, January 1, 2022, as previously reported
16,892,060
$
169
$
34,423
$
364,788
$
(16,214)
$
383,166
Net Income Attributable to Common Shareowners
-
-
-
8,455
-
8,455
Other Comprehensive Loss, Net of Tax
-
-
-
-
(17,529)
(17,529)
Cash Dividends ($
0.16
 
per share)
-
-
-
(2,712)
-
(2,712)
Stock Based Compensation
-
-
245
-
-
245
Stock Compensation Plan Transactions, net
55,542
-
520
-
-
520
Balance, March 31, 2022, as previously reported
16,947,602
169
35,188
370,531
(33,743)
372,145
Restatement Impacts
Net Income Attributable to Common Shareowners
-
-
-
(1,517)
-
(1,517)
Balance, March 31, 2022
-
-
-
(1,517)
-
(1,517)
As Restated
Balance, January 1, 2022, as restated
16,892,060
169
34,423
364,788
(16,214)
383,166
Net Income Attributable to Common Shareowners
-
-
-
6,938
-
6,938
Other Comprehensive Loss, Net of Tax
-
-
-
(17,529)
(17,529)
Cash Dividends ($
0.16
 
per share)
-
-
-
(2,712)
-
(2,712)
Stock Based Compensation
-
-
245
-
-
245
Stock Compensation Plan Transactions, net
55,542
-
520
-
-
520
Balance, March 31, 2022, as restated
16,947,602
$
169
$
35,188
$
369,014
$
(33,743)
$
370,628
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CHANGES IN SHAREOWNERS' EQUITY (Unaudited)
(Dollars in thousands, except per share data)
Shares
Outstanding
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Loss, Net of
Taxes
Total
 
As Previously Reported
Balance, April 1, 2022, as previously reported
16,947,602
$
169
$
35,188
$
370,531
$
(33,743)
$
372,145
Net Income Attributable to Common Shareowners
-
-
-
8,713
-
8,713
Other Comprehensive Loss, Net of Tax
-
-
-
(7,022)
(7,022)
Cash Dividends ($
0.16
 
per share)
-
-
-
(2,712)
-
(2,712)
Stock Based Compensation
-
-
244
-
-
244
Stock Compensation Plan Transactions, net
11,678
1
306
-
-
307
Balance, June 30, 2022, as previously reported
16,959,280
170
35,738
376,532
(40,765)
371,675
Restatement Impacts
Balance, April 1, 2022
-
-
-
(1,517)
-
(1,517)
Net Income Attributable to Common Shareowners
-
-
-
(1,453)
-
(1,453)
Balance, June 30, 2022
-
-
-
(2,970)
-
(2,970)
As Restated
Balance, April 1, 2022, as restated
16,947,602
169
35,188
369,014
(33,743)
370,628
Net Income Attributable to Common Shareowners
-
-
-
7,260
-
7,260
Other Comprehensive Loss, Net of Tax
-
-
-
-
(7,022)
(7,022)
Cash Dividends ($
0.16
 
per share)
-
-
-
(2,712)
-
(2,712)
Stock Based Compensation
-
-
244
-
-
244
Stock Compensation Plan Transactions, net
11,678
1
306
-
-
307
Balance, June 30, 2022, as restated
16,959,280
$
170
$
35,738
$
373,562
$
(40,765)
$
368,705
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CHANGES IN SHAREOWNERS' EQUITY (Unaudited)
(Dollars in thousands, except per share data)
Shares
Outstanding
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Loss, Net of
Taxes
Total
 
As Previously Reported
Balance, January 1, 2022, as previously reported
16,892,060
$
169
$
34,423
$
364,788
$
(16,214)
$
383,166
Net Income Attributable to Common Shareowners
-
-
-
17,168
-
17,168
Other Comprehensive Loss, Net of Tax
-
-
-
-
(24,551)
(24,551)
Cash Dividends ($
0.32
 
per share)
-
-
-
(5,424)
-
(5,424)
Stock Based Compensation
-
-
489
-
-
489
Stock Compensation Plan Transactions, net
67,220
1
826
-
-
827
Balance, June 30, 2022, as previously reported
16,959,280
170
35,738
376,532
(40,765)
371,675
Restatement Impacts
Net Income Attributable to Common Shareowners
-
-
-
(2,970)
-
(2,970)
Balance, June 30, 2022
-
-
-
(2,970)
(2,970)
As Restated
Balance, January 1, 2022, as restated
16,892,060
169
34,423
364,788
(16,214)
383,166
Net Income Attributable to Common Shareowners
-
-
-
14,198
-
14,198
Other Comprehensive Loss, Net of Tax
-
-
-
(24,551)
(24,551)
Cash Dividends ($
0.32
 
per share)
-
-
-
(5,424)
-
(5,424)
Stock Based Compensation
-
-
489
-
-
489
Stock Compensation Plan Transactions, net
67,220
1
826
-
-
827
Balance, June 30, 2022, as restated
16,959,280
$
170
$
35,738
$
373,562
$
(40,765)
$
368,705
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CHANGES IN SHAREOWNERS' EQUITY (Unaudited)
(Dollars in thousands, except per share data)
Shares
Outstanding
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Loss, Net of
Taxes
Total
 
As Previously Reported
Balance, July 1, 2022, as previously reported
16,959,280
$
170
$
35,738
$
376,532
$
(40,765)
$
371,675
Net Income Attributable to Common Shareowners
-
-
-
11,315
-
11,315
Other Comprehensive Loss, Net of Tax
-
-
-
-
(7,438)
(7,438)
Cash Dividends ($
0.16
 
per share)
-
-
-
(2,883)
-
(2,883)
Stock Based Compensation
-
-
415
-
-
415
Stock Compensation Plan Transactions, net
2,532
-
81
-
-
81
Balance, September 30, 2022, as previously
reported
16,961,812
170
36,234
384,964
(48,203)
373,165
Restatement Impacts
Balance, July 1, 2022
-
-
-
(2,970)
-
(2,970)
Net Income Attributable to Common Shareowners
-
-
-
(1,710)
-
(1,710)
Balance, September 30, 2022
-
-
-
(4,680)
-
(4,680)
As Restated
Balance, July 1, 2022, as restated
16,959,280
170
35,738
373,562
(40,765)
368,705
Net Income Attributable to Common Shareowners
-
-
-
9,605
-
9,605
Other Comprehensive Loss, Net of Tax
-
-
-
-
(7,438)
(7,438)
Cash Dividends ($
0.16
 
per share)
-
-
-
(2,883)
-
(2,883)
Stock Based Compensation
-
-
415
-
-
415
Stock Compensation Plan Transactions, net
2,532
-
81
-
-
81
Balance, September 30, 2022, as restated
16,961,812
$
170
$
36,234
$
380,284
$
(48,203)
$
368,485
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CHANGES IN SHAREOWNERS' EQUITY (Unaudited)
(Dollars in thousands, except per share data)
Shares
Outstanding
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Loss, Net of
Taxes
Total
 
As Previously Reported
Balance, January 1, 2022, as previously reported
16,892,060
$
169
$
34,423
$
364,788
$
(16,214)
$
383,166
Net Income Attributable to Common Shareowners
-
-
-
28,483
-
28,483
Other Comprehensive Loss, Net of Tax
-
-
-
-
(31,989)
(31,989)
Cash Dividends ($
0.49
 
per share)
-
-
-
(8,307)
-
(8,307)
Stock Based Compensation
-
-
904
-
-
904
Stock Compensation Plan Transactions, net
69,752
1
907
-
-
908
Balance, September 30, 2022, as previously
reported
16,961,812
170
36,234
384,964
(48,203)
373,165
Restatement Impacts
Net Income Attributable to Common Shareowners
-
-
-
(4,680)
-
(4,680)
Balance, September 30, 2022
-
-
-
(4,680)
(4,680)
As Restated
Balance, January 1, 2022, as restated
16,892,060
169
34,423
364,788
(16,214)
383,166
Net Income Attributable to Common Shareowners
-
-
-
23,803
-
23,803
Other Comprehensive Loss, Net of Tax
-
-
-
-
(31,989)
(31,989)
Cash Dividends ($
0.49
 
per share)
-
-
-
(8,307)
-
(8,307)
Stock Based Compensation
-
-
904
-
-
904
Stock Compensation Plan Transactions, net
69,752
1
907
-
-
908
Balance, September 30, 2022, as restated
16,961,812
$
170
$
36,234
$
380,284
$
(48,203)
$
368,485
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CASH FLOWS (Unaudited)
For the Three Months Ended March 31, 2022
(Dollars in Thousands)
As Previously
Reported
Restatement
Impact
As Restated
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income
 
$
8,455
$
(1,517)
$
6,938
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
-
32
32
 
Depreciation
1,907
-
1,907
 
Amortization of Premiums, Discounts, and Fees, net
2,907
(297)
2,610
 
Amortization of Intangible Assets
40
-
40
 
Pension Settlement Charges
209
-
209
 
Originations of Loans Held for Sale
(246,887)
4,634
(242,253)
 
Proceeds From Sales of Loans Held for Sale
257,550
(4,966)
252,584
 
Mortgage Banking Revenues
(8,946)
4,891
(4,055)
 
Net Additions for Capitalized Mortgage Servicing Rights
227
137
364
 
Stock Compensation
245
-
245
 
Net Tax Benefit from
 
Stock Compensation
(19)
-
(19)
 
Deferred Income Taxes (Benefit)
(6,167)
(515)
(6,682)
 
Net Change in Operating Leases
(27)
-
(27)
 
Net (Increase) Decrease in Other Assets
1,441
456
1,897
 
Net Increase (Decrease) in Other Liabilities
7,036
-
7,036
Net Cash Provided (Used In) By Operating Activities
17,971
2,855
20,826
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Purchases
(194,448)
-
(194,448)
 
Payments, Maturities, and Calls
14,441
-
14,441
Securities Available for
 
Sale:
 
Purchases
(25,139)
-
(25,139)
 
Proceeds from the Sale of Securities
3,365
-
3,365
 
Payments, Maturities, and Calls
24,824
-
24,824
Purchases of Loans Held for Investment
(26,713)
-
(26,713)
Net (Increase) Decrease in Loans
(28,405)
(2,855)
(31,260)
Purchases of Premises and Equipment, net
(1,013)
-
(1,013)
Noncontrolling Interest Contributions
1,838
-
1,838
Net Cash Used In Investing Activities
(231,250)
(2,855)
(234,105)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Increase in Deposits
52,645
-
52,645
Net (Decrease) Increase
 
in Other Short-Term Borrowings
(3,692)
-
(3,692)
Repayment of Other Long-Term
 
Borrowings
(78)
-
(78)
Dividends Paid
(2,712)
-
(2,712)
Issuance of Common Stock Under Compensation Plans
190
-
190
Net Cash Provided By Financing Activities
46,353
-
46,353
NET DECREASE IN CASH AND CASH EQUIVALENTS
(166,926)
-
(166,926)
Cash and Cash Equivalents at Beginning of Period
 
1,035,354
-
1,035,354
Cash and Cash Equivalents at End of Period
 
$
868,428
$
-
$
868,428
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
715
$
-
$
715
 
Income Taxes Paid
$
20
$
-
$
20
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CASH FLOWS (Unaudited)
For the Six Months Ended June 30, 2022
(Dollars in Thousands)
As Previously
Reported
Restatement
Impact
As Restated
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income Attributable to Common Shareowners
$
17,168
$
(2,970)
$
14,198
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
1,542
182
1,724
 
Depreciation
3,802
-
3,802
 
Amortization of Premiums, Discounts, and Fees, net
5,545
(492)
5,053
 
Amortization of Intangible Assets
80
-
80
 
Pension Settlement Charges
378
-
378
 
Originations of Loans Held for Sale
(573,239)
24,221
(549,018)
 
Proceeds From Sales of Loans Held for Sale
595,074
(9,598)
585,476
 
Mortgage Banking Revenues
(18,011)
9,099
(8,912)
 
Net Additions for Capitalized Mortgage Servicing Rights
1,358
(998)
360
 
Stock Compensation
489
-
489
 
Net Tax Benefit from
 
Stock Compensation
(19)
-
(19)
 
Deferred Income Taxes (Benefit)
(8,879)
(1,008)
(9,887)
 
Net Change in Operating Leases
(72)
-
(72)
 
Net Gain on Sales and Write-Downs of Other Real Estate Owned
(26)
-
(26)
 
Net (Increase) Decrease in Other Assets
845
2,671
3,516
 
Net Increase (Decrease) in Other Liabilities
22,040
-
22,040
Net Cash Provided (Used In) By Operating Activities
48,075
21,107
69,182
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Purchases
(218,548)
-
(218,548)
 
Payments, Maturities, and Calls
28,111
-
28,111
 
Purchases
(37,044)
-
(37,044)
 
Proceeds from the Sale of Securities
3,365
-
3,365
 
Payments, Maturities, and Calls
47,413
-
47,413
Purchases of Loans Held for Investment
(174,779)
-
(174,779)
Net (Increase) Decrease in Loans
(109,806)
(21,107)
(130,913)
Proceeds From Sales of Other Real Estate Owned
30
-
30
Purchases of Premises and Equipment, net
(3,322)
-
(3,322)
Noncontrolling Interest Contributions
2,573
-
2,573
Net Cash Used In Investing Activities
(462,007)
(21,107)
(483,114)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Increase in Deposits
73,396
-
73,396
Net (Decrease) Increase
 
in Other Short-Term Borrowings
4,784
-
4,784
Repayment of Other Long-Term
 
Borrowings
(150)
-
(150)
Dividends Paid
(5,424)
-
(5,424)
Issuance of Common Stock Under Compensation Plans
496
-
496
Net Cash Provided By Financing Activities
73,102
-
73,102
NET DECREASE IN CASH AND CASH EQUIVALENTS
(340,830)
-
(340,830)
Cash and Cash Equivalents at Beginning of Period
 
1,035,354
-
1,035,354
Cash and Cash Equivalents at End of Period
 
$
694,524
$
-
$
694,524
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
1,617
$
-
$
1,617
 
Income Taxes Paid
$
3,765
$
-
$
3,765
Noncash Investing and Financing Activities:
 
Loans and Premises Transferred to Other Real Estate Owned
$
77
$
-
$
77
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CASH FLOWS (Unaudited)
For the Nine Months Ended September 30, 2022
(Dollars in Thousands)
As Previously
Reported
Restatement
Impact
As Restated
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income Attributable to Common Shareowners
$
28,483
$
(4,680)
$
23,803
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
3,641
237
3,878
 
Depreciation
5,689
-
5,689
 
Amortization of Premiums, Discounts, and Fees, net
7,190
(572)
6,618
 
Amortization of Intangible Assets
120
-
120
 
Pension Settlement Charges
480
-
480
 
Originations of Loans Held for Sale
(799,482)
27,393
(772,089)
 
Proceeds From Sales of Loans Held for Sale
826,837
(13,570)
813,267
 
Mortgage Banking Revenues
(25,127)
13,320
(11,807)
 
Net Additions for Capitalized Mortgage Servicing Rights
(1,921)
2,491
570
 
Stock Compensation
904
-
904
 
Net Tax Benefit from
 
Stock Compensation
(19)
-
(19)
 
Deferred Income Taxes (Benefit)
(11,265)
(1,589)
(12,854)
 
Net Change in Operating Leases
(83)
-
(83)
 
Net Gain on Sales and Write-Downs of Other Real Estate Owned
(136)
-
(136)
 
Net (Increase) Decrease in Other Assets
3,696
-
3,696
 
Net Increase (Decrease) in Other Liabilities
12,839
-
12,839
Net Cash Provided (Used In) By Operating Activities
51,846
23,030
74,876
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Purchases
(219,865)
-
(219,865)
 
Payments, Maturities, and Calls
40,096
-
40,096
 
Purchases
(41,880)
-
(41,880)
 
Proceeds from the Sale of Securities
3,365
-
3,365
 
Payments, Maturities, and Calls
64,301
-
64,301
Purchases of Loans Held for Investment
(329,481)
-
(329,481)
Net (Increase) Decrease in Loans
(90,086)
(23,030)
(113,116)
Proceeds From Sales of Other Real Estate Owned
1,683
-
1,683
Purchases of Premises and Equipment, net
(4,013)
-
(4,013)
Noncontrolling Interest Contributions
2,867
-
2,867
Net Cash Used In Investing Activities
(573,013)
(23,030)
(596,043)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Increase in Deposits
46,516
-
46,516
Net (Decrease) Increase
 
in Other Short-Term Borrowings
17,592
-
17,592
Repayment of Other Long-Term
 
Borrowings
(200)
-
(200)
Dividends Paid
(8,307)
-
(8,307)
Issuance of Common Stock Under Compensation Plans
577
-
577
Net Cash Provided By Financing Activities
56,178
-
56,178
NET DECREASE IN CASH AND CASH EQUIVALENTS
(464,989)
-
(464,989)
Cash and Cash Equivalents at Beginning of Period
 
1,035,354
-
1,035,354
Cash and Cash Equivalents at End of Period
 
$
570,365
$
-
$
570,365
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
3,588
$
-
$
3,588
 
Income Taxes Paid
$
6,410
$
-
$
6,410
Noncash Investing and Financing Activities:
 
Loans and Premises Transferred to Other Real Estate Owned
$
1,543
$
-
$
1,543
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.