Quarterly report pursuant to Section 13 or 15(d)

BUSINESS AND BASIS OF PRESENTATION (Tables)

v3.23.4
BUSINESS AND BASIS OF PRESENTATION (Tables)
 6 Months Ended
Jun. 30, 2023
Business and Basis of Presentation [Abstract]  
Schedule Of Restatement Impacts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PART
 
I.
 
FINANCIAL INFORMATION
Item 1.
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF FINANCIAL CONDITION
(Unaudited)
June 30, 2023
December 31, 2022
(Dollars in Thousands, Except Par Value)
As Previously
Reported
As Restated
As Previously
Reported
As Restated
ASSETS
 
 
 
 
Cash and Due From Banks
$
83,679
$
83,679
$
72,114
$
72,114
Federal Funds Sold and Interest Bearing Deposits
 
285,129
 
285,129
 
528,536
 
528,536
Total Cash and Cash Equivalents
 
368,808
 
368,808
 
600,650
 
600,650
 
 
 
 
 
Investment Securities, Available
 
for Sale, at fair value (amortized
cost of $
424,220
 
and $
455,232
)
 
386,220
 
386,220
 
413,294
 
413,294
Investment Securities, Held to Maturity (fair value of $
595,219
and $
612,701
)
 
641,398
 
641,398
 
660,744
 
660,744
Equity Securities
1,703
 
1,703
10
 
10
Total Investment
 
Securities
 
1,029,321
 
1,029,321
 
1,074,048
 
1,074,048
 
 
Loans Held For Sale, at fair value
67,908
 
44,659
54,635
 
26,909
 
 
Loans Held for Investment
2,667,003
 
2,683,512
2,525,180
 
2,547,685
Allowance for Credit Losses
 
(27,964)
 
(28,243)
 
(24,736)
 
(25,068)
Loans Held for Investment, Net
 
2,639,039
 
2,655,269
 
2,500,444
 
2,522,617
 
 
 
 
 
Premises and Equipment, Net
 
82,062
 
82,062
 
82,138
 
82,138
Goodwill and Other Intangibles
 
93,013
 
93,013
 
93,093
 
93,093
Other Real Estate Owned
1
1
431
431
Other Assets
 
119,411
 
118,073
 
120,519
 
119,337
Total Assets
$
4,399,563
$
4,391,206
$
4,525,958
$
4,519,223
 
 
 
 
 
LIABILITIES
 
 
 
 
Deposits:
 
 
 
 
Noninterest Bearing Deposits
$
1,520,134
$
1,520,134
$
1,653,620
$
1,653,620
Interest Bearing Deposits
 
2,268,732
 
2,268,732
 
2,285,697
 
2,285,697
Total Deposits
 
3,788,866
 
3,788,866
 
3,939,317
 
3,939,317
 
 
 
 
 
Short-Term
 
Borrowings
 
50,673
50,673
 
56,793
56,793
Subordinated Notes Payable
 
52,887
52,887
 
52,887
52,887
Other Long-Term
 
Borrowings
 
414
414
 
513
513
Other Liabilities
 
77,192
77,192
 
73,675
73,675
Total Liabilities
3,970,032
3,970,032
4,123,185
4,123,185
Temporary Equity
8,752
8,752
8,757
8,757
 
 
 
 
 
SHAREOWNERS’ EQUITY
 
 
 
 
Preferred Stock, $
0.01
 
par value;
3,000,000
 
shares authorized;
no
shares issued and outstanding
 
-
-
 
-
-
Common Stock, $
0.01
 
par value;
90,000,000
 
shares authorized;
16,991,634
 
and
16,986,785
 
shares issued and outstanding at June 30, 2023 and December 31,
2022, respectively
170
170
170
170
Additional Paid-In Capital
 
36,853
36,853
 
37,331
37,331
Retained Earnings
 
417,128
408,771
 
393,744
387,009
Accumulated Other Comprehensive Loss, net of tax
 
(33,372)
(33,372)
 
(37,229)
(37,229)
Total Shareowners’
Equity
 
420,779
412,422
 
394,016
387,281
Total Liabilities, Temporary
 
Equity, and Shareowners’ Equity
$
4,399,563
$
4,391,206
$
4,525,958
$
4,519,223
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF INCOME
(Unaudited)
Three Months Ended
Three Months Ended
June 30, 2023
June 30, 2022
(Dollars in Thousands, Except Per Share
 
Data)
As Previously
Reported
As Restated
As Previously
Reported
As Restated
INTEREST INCOME
Loans, including Fees
$
37,477
$
37,608
$
24,072
$
24,268
Investment Securities:
Taxable Securities
4,803
4,803
3,833
3,833
Tax Exempt Securities
12
12
7
7
Federal Funds Sold and Interest Bearing Deposits
2,782
2,782
1,408
1,408
Total Interest Income
45,074
45,205
29,320
29,516
INTEREST EXPENSE
Deposits
4,008
4,008
266
266
Short-Term
 
Borrowings
451
451
343
343
Subordinated Notes Payable
604
604
370
370
Other Long-Term
 
Borrowings
5
5
8
8
Total Interest Expense
5,068
5,068
987
987
NET INTEREST INCOME
40,006
40,137
28,333
28,529
Provision for Credit Losses
2,219
2,197
1,542
1,692
Net Interest Income After Provision for Credit Losses
37,787
37,940
26,791
26,837
NONINTEREST INCOME
Deposit Fees
5,326
5,326
5,447
5,447
Bank Card Fees
3,795
3,795
4,034
4,034
Wealth Management
 
Fees
4,149
4,149
4,403
4,403
Mortgage Banking Revenues
5,837
3,363
9,065
4,857
Other
3,766
3,334
1,954
1,823
Total Noninterest
 
Income
22,873
19,967
24,903
20,564
NONINTEREST EXPENSE
Compensation
24,884
23,438
25,383
23,222
Occupancy, Net
6,820
6,820
6,075
6,075
Other
10,830
10,027
9,040
8,853
Total Noninterest
 
Expense
42,534
40,285
40,498
38,150
INCOME BEFORE INCOME TAXES
18,126
17,622
11,196
9,251
Income Tax Expense
3,544
3,417
2,177
1,685
NET INCOME
$
14,582
$
14,205
$
9,019
$
7,566
Loss (Income) Attributable to Noncontrolling Interests
(31)
(31)
(306)
(306)
NET INCOME ATTRIBUTABLE
 
TO COMMON
SHAREOWNERS
$
14,551
$
14,174
$
8,713
$
7,260
BASIC NET INCOME PER SHARE
$
0.86
$
0.83
$
0.51
$
0.43
DILUTED NET INCOME PER SHARE
$
0.85
$
0.83
$
0.51
$
0.43
Average Basic Shares
 
Outstanding
17,002
17,002
16,949
16,949
Average Diluted
 
Shares Outstanding
17,035
17,035
16,971
16,971
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF INCOME
(Unaudited)
Six Months Ended
Six Months Ended
June 30, 2023
June 30, 2022
(Dollars in Thousands, Except Per Share
 
Data)
As Previously
Reported
As Restated
As Previously
Reported
As Restated
INTEREST INCOME
Loans, including Fees
$
72,357
$
72,499
$
46,205
$
46,697
Taxable Securities
9,716
9,716
6,723
6,723
Tax Exempt Securities
23
23
13
13
Federal Funds Sold and Interest Bearing Deposits
6,893
6,893
1,817
1,817
Total Interest Income
88,989
89,131
54,758
55,250
INTEREST EXPENSE
Deposits
6,496
6,496
490
490
Short-Term
 
Borrowings
912
912
535
535
Subordinated Notes Payable
1,175
1,175
687
687
Other Long-Term
 
Borrowings
11
11
17
17
Total Interest Expense
8,594
8,594
1,729
1,729
NET INTEREST INCOME
80,395
80,537
53,029
53,521
Provision for Credit Losses
5,349
5,296
1,542
1,724
Net Interest Income After Provision for Credit Losses
75,046
75,241
51,487
51,797
NONINTEREST INCOME
Deposit Fees
10,565
10,565
10,638
10,638
Bank Card Fees
7,521
7,521
7,797
7,797
Wealth Management
 
Fees
8,077
8,077
10,473
10,473
Mortgage Banking Revenues
12,832
6,234
18,011
8,912
Other
6,126
5,328
3,802
3,556
Total Noninterest
 
Income
45,121
37,725
50,721
41,376
NONINTEREST EXPENSE
Compensation
50,520
46,962
50,239
45,520
Occupancy, Net
13,582
13,582
12,168
12,168
Other
18,887
17,417
17,324
16,985
Total Noninterest
 
Expense
82,989
77,961
79,731
74,673
INCOME BEFORE INCOME TAXES
37,178
35,005
22,477
18,500
Income Tax Expense
7,677
7,126
4,412
3,405
NET INCOME
$
29,501
27,879
18,065
15,095
Loss (Income) Attributable to Noncontrolling Interests
4
4
(897)
(897)
NET INCOME ATTRIBUTABLE
 
TO COMMON
SHAREOWNERS
$
29,505
$
27,883
$
17,168
$
14,198
BASIC NET INCOME PER SHARE
$
1.73
$
1.64
$
1.01
$
0.84
DILUTED NET INCOME PER SHARE
$
1.73
$
1.64
$
1.01
$
0.84
Average Basic Shares
 
Outstanding
17,009
17,009
16,940
16,940
Average Diluted
 
Shares Outstanding
17,040
17,040
16,958
16,958
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF COMPREHENSIVE INCOME (LOSS)
 
(Unaudited)
Three Months Ended
Three Months Ended
June 30, 2023
June 30, 2022
(Dollars in Thousands)
As
Previously
Reported
As Restated
As
Previously
Reported
As Restated
NET INCOME ATTRIBUTABLE
 
TO COMMON SHAREOWNERS
$
14,551
$
14,174
$
8,713
$
7,260
Other comprehensive income (loss), before
 
tax:
Investment Securities:
Change in net unrealized gain (loss) on securities available for sale
(2,887)
(2,887)
(10,718)
(10,718)
Amortization of unrealized losses on securities transferred from
available for sale to held to maturity
876
876
4
4
Derivative:
Change in net unrealized (loss) gain on effective cash flow
 
derivative
585
585
1,161
1,161
Benefit Plans:
Pension Settlement
(217)
(217)
169
169
Total Benefit Plans
(217)
(217)
169
169
Other comprehensive income (loss), before
 
tax
(1,643)
(1,643)
(9,384)
(9,384)
Deferred tax (benefit) expense related to other comprehensive income
(347)
(347)
(2,362)
(2,362)
Other comprehensive income (loss), net of tax
(1,296)
(1,296)
(7,022)
(7,022)
TOTAL COMPREHENSIVE
 
INCOME (LOSS)
$
13,255
$
12,878
$
1,691
$
238
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF COMPREHENSIVE INCOME (LOSS)
 
(Unaudited)
Six Months Ended
Six Months Ended
June 30, 2023
June 30, 2022
(Dollars in Thousands)
As
Previously
Reported
As Restated
As
Previously
Reported
As Restated
NET INCOME ATTRIBUTABLE
 
TO COMMON SHAREOWNERS
$
29,505
$
27,883
$
17,168
$
14,198
Other comprehensive income (loss), before
 
tax:
Investment Securities:
Change in net unrealized gain (loss) on securities available for sale
3,921
3,921
(36,167)
(36,167)
Amortization of unrealized losses on securities transferred from
available for sale to held to maturity
1,741
1,741
9
9
Derivative:
Change in net unrealized (loss) gain on effective cash flow
 
derivative
(217)
(217)
2,997
2,997
Benefit Plans:
Pension Settlement
(217)
(217)
378
378
Total Benefit Plans
(217)
(217)
378
378
Other comprehensive income (loss), before
 
tax
5,228
5,228
(32,783)
(32,783)
Deferred tax expense (benefit) related to other comprehensive income
1,371
1,371
(8,232)
(8,232)
Other comprehensive income (loss), net of tax
3,857
3,857
(24,551)
(24,551)
TOTAL COMPREHENSIVE
 
INCOME (LOSS)
$
33,362
$
31,740
$
(7,383)
$
(10,353)
The accompanying Notes to Consolidated Financial Statements are
 
an integral part of these statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENTS
 
OF CHANGES IN SHAREOWNERS' EQUITY
(Unaudited)
Three Months Ended June 30, 2023
(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, 2023, as previously reported
17,021,748
$
170
$
37,512
$
405,634
$
(32,076)
$
411,240
Net Income Attributable to Common Shareowners
14,551
14,551
Other Comprehensive Loss, Net of Tax
(1,296)
(1,296)
Cash Dividends ($
0.18
 
per share)
(3,057)
(3,057)
Repurchase of Common Stock
 
(40,495)
(1,203)
(1,203)
Stock Based Compensation
228
228
Stock Compensation Plan Transactions, net
10,381
-
316
316
Balance, June 30, 2023, as previously reported
16,991,634
$
170
$
36,853
$
417,128
$
(33,372)
$
420,779
As Restated
Balance, April 1, 2023, as restated
17,021,748
$
170
$
37,512
$
397,654
$
(32,076)
$
403,260
Net Income Attributable to Common Shareowners
14,174
14,174
Other Comprehensive Loss, Net of Tax
(1,296)
(1,296)
Cash Dividends ($
0.18
 
per share)
(3,057)
(3,057)
Repurchase of Common Stock
 
(40,495)
(1,203)
(1,203)
Stock Based Compensation
228
228
Stock Compensation Plan Transactions, net
10,381
-
316
316
Balance, June 30, 2023, as restated
16,991,634
$
170
$
36,853
$
408,771
$
(33,372)
$
412,422
Three 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
 
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
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 STATEMENTS
 
OF CHANGES IN SHAREOWNERS' EQUITY
(Unaudited)
Six Months Ended June 30, 2023
(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, 2023, as previously reported
16,986,785
$
170
$
37,331
$
393,744
$
(37,229)
$
394,016
Net Income Attributable to Common Shareowners
29,505
29,505
Other Comprehensive Loss, Net of Tax
3,857
3,857
Cash Dividends ($
0.36
 
per share)
(6,121)
(6,121)
Repurchase of Common Stock
 
(65,736)
(2,022)
(2,022)
Stock Based Compensation
764
764
Stock Compensation Plan Transactions, net
70,585
-
780
780
Balance, June 30, 2023, as previously reported
16,991,634
$
170
$
36,853
$
417,128
$
(33,372)
$
420,779
As Restated
Balance, January 1, 2023, as restated
16,986,785
$
170
$
37,331
$
387,009
$
(37,229)
$
387,281
Net Income Attributable to Common Shareowners
27,883
27,883
Other Comprehensive Loss, Net of Tax
3,857
3,857
Cash Dividends ($
0.36
 
per share)
(6,121)
(6,121)
Repurchase of Common Stock
 
(65,736)
(2,022)
(2,022)
Stock Based Compensation
764
764
Stock Compensation Plan Transactions, net
70,585
-
780
780
Balance, June 30, 2023, as restated
16,991,634
$
170
$
36,853
$
408,771
$
(33,372)
$
412,422
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
 
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
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 STATEMENTS
 
OF CASH FLOWS (Unaudited)
Six Months Ended
Six Months Ended
Jun 30, 2023
Jun 30, 2022
(Dollars in Thousands)
As Previously
Reported
As Restated
As Previously
Reported
As Restated
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income Attributable to Common Shareowners
$
29,505
$
27,883
$
17,168
$
14,198
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
5,349
5,296
1,542
1,724
 
Depreciation
3,927
3,927
3,802
3,802
 
Amortization of Premiums, Discounts, and Fees, net
2,260
2,117
5,545
5,053
 
Amortization of Intangible Assets
80
80
80
80
 
Pension Settlement Charge
(291)
(291)
378
378
 
Originations of Loans Held-for-Sale
(209,775)
(214,364)
(573,239)
(549,018)
 
Proceeds From Sales of Loans Held-for-Sale
209,334
202,848
595,074
585,476
 
Mortgage Banking Revenues
(12,832)
(6,234)
(18,011)
(8,912)
 
Net Additions for Capitalized Mortgage Servicing Rights
(859)
(253)
1,358
360
 
Stock Compensation
764
764
489
489
 
Net Tax Benefit From Stock-Based
 
Compensation
-
-
(19)
(19)
 
Deferred Income Taxes (Benefit)
(2,298)
(2,849)
(8,879)
(9,887)
 
Net Change in Operating Leases
(3)
(3)
(72)
(72)
 
Net (Gain) Loss on Sales and Write-Downs of Other Real Estate Owned
(1,900)
(1,900)
(26)
(26)
 
Net Decrease (Increase) in Other Assets
4,492
4,593
845
3,516
 
Net (Decrease) Increase in Other Liabilities
3,815
3,815
22,040
22,040
Net Cash Provided (Used In) By Operating Activities
31,568
25,429
48,075
69,182
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Purchases
-
-
(218,548)
(218,548)
 
Payments, Maturities, and Calls
18,992
18,992
28,111
28,111
Securities Available for
 
Sale:
 
Purchases
(4,634)
(4,634)
(37,044)
(37,044)
 
Proceeds from Sale of Securities
-
-
3,365
3,365
 
Payments, Maturities, and Calls
32,490
32,490
47,413
47,413
Purchase of loans held for investment
(201,000)
(201,000)
(174,779)
(174,779)
Net Increase in Loans Held for Investment
55,154
61,293
(109,806)
(130,913)
Proceeds From Sales of Other Real Estate Owned
3,772
3,772
30
30
Purchases of Premises and Equipment
(3,851)
(3,851)
(3,322)
(3,322)
Noncontrolling interest contributions received
-
-
2,573
2,573
Net Cash Used In Investing Activities
(99,077)
(92,938)
(462,007)
(483,114)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Increase in Deposits
(150,451)
(150,451)
73,396
73,396
Net (Decrease) Increase in Other Short-Term
 
Borrowings
(6,120)
(6,120)
4,784
4,784
Repayment of Other Long-Term
 
Borrowings
(99)
(99)
(150)
(150)
Dividends Paid
(6,121)
(6,121)
(5,424)
(5,424)
Payments to Repurchase Common Stock
(2,022)
(2,022)
-
-
Issuance of Common Stock Under Compensation Plans
480
480
496
496
Net Cash Provided By Financing Activities
(164,333)
(164,333)
73,102
73,102
NET DECREASE IN CASH AND CASH EQUIVALENTS
(231,842)
(231,842)
(340,830)
(340,830)
Cash and Cash Equivalents at Beginning of Period
 
600,650
600,650
1,035,354
1,035,354
Cash and Cash Equivalents at End of Period
 
$
368,808
$
368,808
$
694,524
$
694,524
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
8,720
$
8,720
$
1,617
$
1,617
 
Income Taxes Paid
$
3,860
$
3,860
$
3,765
$
3,765
Noncash Investing and Financing Activities:
 
Loans and Premises Transferred to Other Real Estate Owned
$
1,442
$
1,442
$
77
$
77
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF FINANCIAL CONDITION
(Unaudited)
As of June 30, 2023
(Dollars in Thousands, except per share data)
As Previously
Reported
Restatement
Impact
As Restated
ASSETS:
Cash and Due From Banks
$
83,679
$
-
$
83,679
Federal Funds Sold and Interest Bearing Deposits
285,129
-
285,129
Total Cash and Cash Equivalents
368,808
-
368,808
Investment Securities, Available
 
for Sale, at fair value (amortized cost
of $
424,220
 
)
386,220
-
386,220
Investment Securities, Held to Maturity (fair value of $
595,219
)
641,398
-
641,398
Other Equity Securities
1,703
-
1,703
 
Total Investment Securities
 
1,029,321
-
1,029,321
Loans Held For Sale
67,908
(23,249)
44,659
Loans, Net of Unearned Income
2,667,003
16,509
2,683,512
Allowance for Loan Losses
(27,964)
(279)
(28,243)
Loans, Net
2,639,039
16,230
2,655,269
Premises and Equipment, Net
82,062
-
82,062
Goodwill
93,013
-
93,013
Other Real Estate Owned
1
-
1
Other Assets
119,411
(1,338)
118,073
Total Assets
$
4,399,563
$
(8,357)
$
4,391,206
LIABILITIES
Deposits:
Noninterest Bearing Deposits
$
1,520,134
$
-
$
1,520,134
Interest Bearing Deposits
2,268,732
-
2,268,732
Total Deposits
3,788,866
-
3,788,866
Short-Term
 
Borrowings
50,673
-
50,673
Subordinated Notes Payable
52,887
-
52,887
Other Long-Term
 
Borrowings
414
-
414
Other Liabilities
77,192
-
77,192
Total Liabilities
3,970,032
-
3,970,032
Temporary Equity
8,752
-
8,752
SHAREOWNERS' EQUITY
Preferred Stock: $
0.01
 
par value,
3,000,000
 
shares authorized
no
 
shares issued and outstanding
-
-
-
Common Stock, $
0.01
 
par value,
90,000,000
 
shares authorized
16,991,634
 
shares issued and outstanding
170
-
170
Additional Paid-In Capital
36,853
-
36,853
Retained Earnings
417,128
(8,357)
408,771
Accumulated Other Comprehensive Loss, Net of Tax
(33,372)
-
(33,372)
Total Shareowners' Equity
420,779
(8,357)
412,422
 
Total Liabilities, Temporary
 
Equity, and Shareowners' Equity
$
4,399,563
$
(8,357)
$
4,391,206
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF INCOME
(Unaudited)
For Three Months Ended June 30, 2023
(Dollars in thousands, except per share data)
As
Previously
Reported
Restatement
Impact
As Restated
INTEREST INCOME
Loans, Including Fees
$
37,477
$
131
$
37,608
Taxable Securities
4,803
-
4,803
Tax Exempt Securities
12
-
12
Funds Sold
2,782
-
2,782
Total Interest Income
45,074
131
45,205
INTEREST EXPENSE
Deposits
4,008
-
4,008
Short-Term
 
Borrowings
451
-
451
Subordinated Notes Payable
604
-
604
Other Long-Term
 
Borrowings
5
-
5
Total Interest Expense
5,068
-
5,068
Net Interest Income
40,006
131
40,137
Provision for Loan Losses
2,219
(22)
2,197
Net Interest Income After Provision For Loan Losses
37,787
153
37,940
NONINTEREST INCOME
Deposit Fees
5,326
-
5,326
Bank Card Fees
3,795
-
3,795
Wealth Management
 
Fees
4,149
-
4,149
Mortgage Banking Fees
5,837
(2,474)
3,363
Other
 
3,766
(432)
3,334
Total Noninterest
 
Income
22,873
(2,906)
19,967
NONINTEREST EXPENSE
Compensation
24,884
(1,446)
23,438
Occupancy, Net
6,820
-
6,820
Other
 
10,830
(803)
10,027
Total Noninterest
 
Expense
42,534
(2,249)
40,285
INCOME BEFORE INCOME TAXES
18,126
(504)
17,622
Income Tax Expense
3,544
(127)
3,417
NET INCOME
14,582
(377)
14,205
Pre-Tax Income
 
Attributable to Noncontrolling Interests
(31)
-
(31)
NET INCOME ATTRIBUTABLE
 
TO COMMON SHAREOWNERS
$
14,551
$
(377)
$
14,174
BASIC NET INCOME PER SHARE
$
0.86
$
(0.03)
$
0.83
DILUTED NET INCOME PER SHARE
$
0.85
$
(0.02)
$
0.83
AVERAGE
 
SHARES:
Basic
 
17,002
-
17,002
Diluted
 
17,035
-
17,035
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF INCOME
(Unaudited)
For Six Months Ended June 30, 2023
(Dollars in thousands, except per share data)
As
Previously
Reported
Restatement
Impact
As Restated
INTEREST INCOME
Loans, Including Fees
$
72,357
$
142
$
72,499
Taxable Securities
9,716
-
9,716
Tax Exempt Securities
23
-
23
Funds Sold
6,893
-
6,893
Total Interest Income
88,989
142
89,131
INTEREST EXPENSE
Deposits
6,496
-
6,496
Short-Term
 
Borrowings
912
-
912
Subordinated Notes Payable
1,175
-
1,175
Other Long-Term
 
Borrowings
11
-
11
Total Interest Expense
8,594
-
8,594
Net Interest Income
80,395
142
80,537
Provision for Loan Losses
5,349
(53)
5,296
Net Interest Income After Provision For Loan Losses
75,046
195
75,241
NONINTEREST INCOME
Deposit Fees
10,565
-
10,565
Bank Card Fees
7,521
-
7,521
Wealth Management
 
Fees
8,077
-
8,077
Mortgage Banking Fees
12,832
(6,598)
6,234
Other
 
6,126
(798)
5,328
Total Noninterest
 
Income
45,121
(7,396)
37,725
NONINTEREST EXPENSE
Compensation
50,520
(3,558)
46,962
Occupancy, Net
13,582
-
13,582
Other
 
18,887
(1,470)
17,417
Total Noninterest
 
Expense
82,989
(5,028)
77,961
INCOME BEFORE INCOME TAXES
37,178
(2,173)
35,005
Income Tax Expense
7,677
(551)
7,126
NET INCOME
29,501
(1,622)
27,879
Pre-Tax Income
 
Attributable to Noncontrolling Interests
4
-
4
NET INCOME ATTRIBUTABLE
 
TO COMMON SHAREOWNERS
$
29,505
$
(1,622)
$
27,883
BASIC NET INCOME PER SHARE
$
1.73
$
(0.09)
$
1.64
DILUTED NET INCOME PER SHARE
$
1.73
$
(0.09)
$
1.64
AVERAGE
 
SHARES:
Basic
 
17,009
-
17,009
Diluted
 
17,040
-
17,040
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF COMPREHENSIVE INCOME (LOSS)
(Unaudited)
For Three Months Ended June 30, 2023
(Dollars in thousands, except per share data)
As
Previously
Reported
Restatement
Impact
As Restated
NET INCOME
$
14,551
$
(377)
$
14,174
Other comprehensive income (loss), before
 
tax:
Investment Securities:
Change in net unrealized (loss) gain on securities available for sale
(2,887)
-
(2,887)
Amortization of unrealized losses on securities transferred from available
 
for sale to
held to maturity
876
-
876
Derivative:
Change in net unrealized gain on effective cash flow
 
derivative
585
-
585
Benefit Plans:
Current year acturial loss
(217)
-
(217)
 
Total Benefit Plans
(217)
-
(217)
Other comprehensive income (loss), before
 
tax:
(1,643)
-
(1,643)
Deferred tax (benefit) expense related to other comprehensive income
(347)
-
(347)
Other comprehensive income (loss), net of tax
(1,296)
-
(1,296)
TOTAL COMPREHENSIVE
 
INCOME
$
13,255
$
(377)
$
12,878
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF COMPREHENSIVE INCOME
(Unaudited)
For Six Months Ended June 30, 2023
(Dollars in thousands, except per share data)
As
Previously
Reported
Restatement
Impact
As Restated
NET INCOME
$
29,505
$
(1,622)
$
27,883
Other comprehensive income (loss), before
 
tax:
Investment Securities:
Change in net unrealized (loss) gain on securities available for sale
3,921
-
3,921
Amortization of unrealized losses on securities transferred from available
 
for sale to
held to maturity
1,741
-
1,741
Derivative:
Change in net unrealized gain on effective cash flow
 
derivative
(217)
-
(217)
Benefit Plans:
Current year acturial loss
(217)
-
(217)
 
Total Benefit Plans
(217)
-
(217)
Other comprehensive income (loss), before
 
tax:
5,228
-
5,228
Deferred tax expense (benefit) related to other comprehensive income
1,371
-
1,371
Other comprehensive income (loss), net of tax
3,857
-
3,857
TOTAL COMPREHENSIVE
 
INCOME
$
33,362
$
(1,622)
$
31,740
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CHANGES IN SHAREOWNERS' EQUITY
(Unaudited)
Three Months Ended June 30, 2023
(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, 2023, as previously reported
17,021,748
$
170
$
37,512
$
405,634
$
(32,076)
$
411,240
Net Income Attributable to Common Shareowners
14,551
14,551
Other Comprehensive Loss, Net of Tax
(1,296)
(1,296)
Cash Dividends ($
0.18
 
per share)
(3,057)
(3,057)
 
Repurchase of Common Stock
 
(40,495)
(1,203)
(1,203)
 
Stock Based Compensation
228
228
 
Stock Compensation Plan Transactions, net
10,381
-
316
316
Balance, June 30, 2023, as previously reported
16,991,634
$
170
$
36,853
$
417,128
$
(33,372)
$
420,779
Restatement Impacts
Balance, April 1, 2023
-
$
-
$
-
$
(7,980)
$
-
$
(7,980)
Net Income Attributable to Common Shareowners
(377)
(377)
Balance, June 30, 2023
-
$
-
$
-
$
(8,357)
$
-
$
(8,357)
As Restated
Balance, April 1, 2023, as restated
17,021,748
$
170
$
37,512
$
397,654
$
(32,076)
$
403,260
Net Income Attributable to Common Shareowners
14,174
14,174
Other Comprehensive Loss, Net of Tax
(1,296)
(1,296)
Cash Dividends ($
0.18
 
per share)
(3,057)
(3,057)
 
Repurchase of Common Stock
 
(40,495)
(1,203)
(1,203)
 
Stock Based Compensation
228
228
 
Stock Compensation Plan Transactions, net
10,381
-
316
316
Balance, June 30, 2023, as restated
16,991,634
$
170
$
36,853
$
408,771
$
(33,372)
$
412,422
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CHANGES IN SHAREOWNERS' EQUITY
(Unaudited)
Six Months Ended June 30, 2023
(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, 2023, as previously reported
16,986,785
$
170
$
37,331
$
393,744
$
(37,229)
$
394,016
Net Income Attributable to Common Shareowners
29,505
29,505
Other Comprehensive Loss, Net of Tax
3,857
3,857
Cash Dividends ($
0.36
 
per share)
(6,121)
(6,121)
 
Repurchase of Common Stock
 
(65,736)
(2,022)
(2,022)
 
Stock Based Compensation
764
764
 
Stock Compensation Plan Transactions, net
70,585
-
780
780
Balance, June 30, 2023, as previously reported
16,991,634
$
170
$
36,853
$
417,128
$
(33,372)
$
420,779
Restatement Impacts
Balance, January 1, 2023
-
$
-
$
-
$
(6,735)
$
-
$
(6,735)
Net Income Attributable to Common Shareowners
(1,622)
(1,622)
Balance, June 30, 2023
-
$
-
$
-
$
(8,357)
$
-
$
(8,357)
As Restated
Balance, January 1, 2023, as restated
16,986,785
$
170
$
37,331
$
387,009
$
(37,229)
$
387,281
Net Income Attributable to Common Shareowners
27,883
27,883
Other Comprehensive Loss, Net of Tax
3,857
3,857
Cash Dividends ($
0.36
 
per share)
(6,121)
(6,121)
 
Repurchase of Common Stock
 
(65,736)
(2,022)
(2,022)
 
Stock Based Compensation
764
764
 
Stock Compensation Plan Transactions, net
70,585
-
780
780
Balance, June 30, 2023, as restated
16,991,634
$
170
$
36,853
$
408,771
$
(33,372)
$
412,422
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL CITY BANK
 
GROUP,
 
INC.
CONSOLIDATED STATEMENT
 
OF CASH FLOWS
(Unaudited)
Six Months Ended June 30, 2023
(Dollars in Thousands)
As Previously
Reported
Restatement
Impact
As Restated
CASH FLOWS FROM OPERATING
 
ACTIVITIES
Net Income Attributable to Common Shareowners
$
29,505
$
(1,622)
$
27,883
Adjustments to Reconcile Net Income to
 
Provision for Credit Losses
5,349
(53)
5,296
 
Depreciation
3,927
-
3,927
 
Amortization of Premiums, Discounts, and Fees, net
2,260
(143)
2,117
 
Amortization of Intangible Assets
80
-
80
 
Pension Settlement Charge
(291)
-
(291)
 
Originations of Loans Held-for-Sale
(209,775)
(4,589)
(214,364)
 
Proceeds From Sales of Loans Held-for-Sale
209,334
(6,486)
202,848
 
Mortgage Banking Revenues
(12,832)
6,598
(6,234)
 
Net Additions for Capitalized Mortgage Servicing Rights
(859)
606
(253)
 
Stock Compensation
764
-
764
 
Deferred Income Taxes (Benefit)
(2,298)
(551)
(2,849)
 
Net Change in Operating Leases
(3)
-
(3)
 
Net (Gain) Loss on Sales and Write-Downs of Other Real Estate Owned
(1,900)
-
(1,900)
 
Net Decrease (Increase) in Other Assets
4,492
101
4,593
 
Net (Decrease) Increase in Other Liabilities
3,815
-
3,815
Net Cash Provided (Used In) By Operating Activities
31,568
(6,139)
25,429
CASH FLOWS FROM INVESTING ACTIVITIES
Securities Held to Maturity:
 
Payments, Maturities, and Calls
18,992
-
18,992
Securities Available for
 
Sale:
 
Purchases
(4,634)
-
(4,634)
 
Payments, Maturities, and Calls
32,490
-
32,490
Purchase of loans held for investment
(201,000)
-
(201,000)
Net Increase in Loans Held for Investment
55,154
6,139
61,293
Proceeds From Sales of Other Real Estate Owned
3,772
-
3,772
Purchases of Premises and Equipment
(3,851)
-
(3,851)
Net Cash Used In Investing Activities
(99,077)
6,139
(92,938)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Increase in Deposits
(150,451)
-
(150,451)
Net (Decrease) Increase
 
in Other Short-Term Borrowings
(6,120)
-
(6,120)
Repayment of Other Long-Term
 
Borrowings
(99)
-
(99)
Dividends Paid
(6,121)
-
(6,121)
Payments to Repurchase Common Stock
(2,022)
-
(2,022)
Issuance of Common Stock Under Compensation Plans
480
-
480
Net Cash Provided By Financing Activities
(164,333)
-
(164,333)
NET DECREASE IN CASH AND CASH EQUIVALENTS
(231,842)
-
(231,842)
Cash and Cash Equivalents at Beginning of Period
 
600,650
-
600,650
Cash and Cash Equivalents at End of Period
 
$
368,808
$
-
$
368,808
Supplemental Cash Flow Disclosures:
 
Interest Paid
$
8,720
$
-
$
8,720
 
Income Taxes Paid
$
3,860
$
-
$
3,860
Noncash Investing and Financing Activities:
 
Loans and Premises Transferred to Other Real Estate Owned
$
1,442
$
-
$
1,442