Capital City Bank Group, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	12 Months Ended
GOODWILL AND OTHER INTANGIBLES	Dec. 31, 2024
Goodwill And Other Intangibles [Abstract]
GOODWILL AND OTHER INTANGIBLES	Note 8 GOODWILL AND OTHER INTANGIBLES At December 31, 2024 and 2023, the Company had goodwill of $ 91.8 million. Goodwill is tested for impairment on an annual basis, or more often if impairment indicators exist. Testing allows for a qualitative assessment of goodwill impairment indicators. If the assessment indicates that impairment has more than likely occurred, the Company must compare the estimated fair value of the reporting unit to its carrying amount. If the carrying amount of the reporting unit exceeds its estimated fair value, an impairment charge is recorded equal to the excess. On April 30, 2021, CCSW acquired substantially all of the assets of Strategic Wealth Group, LLC (“SWG”), including advisory, service, and insurance carrier agreements, and the assignment of all related revenues thereof. Under the terms of the purchase agreement, SWG principles became officers of CCSW and will continue the operation of their five offices in South Georgia offering wealth management services and comprehensive risk management and asset protection services for individuals and businesses. CCBG paid $ 4.5 million in cash consideration and recorded goodwill of $ 2.8 million and a customer relationship intangible asset ( 10 year life) of $ 1.6 million. Amortization expense related to the customer relationship intangible totaled $ 0.2 million in each of 2024 and 2023. The intangible asset balance as of December 31, 2024 and December 31, 2023 was $ 1.0 million and $ 1.2 million, respectively. The estimated amortization expense for each of the seven succeeding fiscal years is $ 0.2 million per year. During the fourth quarter of 2024, the Company performed its annual goodwill impairment testing and determined that no goodwill impairment existed at December 31, 2024 and no goodwill impairment existed at December 31, 2023. The Company will continue to evaluate goodwill for impairment as defined by ASC Topic 350.