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

RELATED PARTY TRANSACTIONS

v3.25.0.1
RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS
Note 19
RELATED PARTY
 
TRANSACTIONS
At December 31, 2024 and 2023, certain officers and directors were indebted
 
to the Bank in the aggregate amount of $
4.8
 
million
and $
6.3
 
million, respectively.
 
During 2024 and 2023, $
0.7
 
million and $
1.7
 
million in new loans were made, respectively,
 
and
repayments totaled $
2.2
 
million and $
2.7
 
million, respectively.
 
These loans were all current at December 31, 2024 and 2023.
Deposits from certain directors, executive officers, and
 
their related interests totaled $
42.7
 
million and $
36.9
 
million at December
31, 2024 and 2023, respectively.
The Company leases land from a partnership (Smith Interests General
 
Partnership L.L.P.)
 
in which William G. Smith, Jr.
 
has an
interest.
 
The Company made lease payments totaling $
0.1
 
million in 2024 and $
0.2
 
million in 2023.
 
In December 2023 the lease
payments adjusted to $
0.1
 
million annually due to a reduction in the size of the parcel leased by the Company.
 
The payments
under the lease agreement provide for annual lease payments of approximately
 
$
0.1
 
million annually through December 2033,
and thereafter, increase by
5
% every
10
 
years until 2053 at which time the rent amount will adjust based on reappraisal of
 
the
parcel rental value.
 
The Company then has
four
 
successive options to extend the lease for
five years
 
each with rental increases of
5
% at each extension. Further, in accordance
 
with this lease agreement, the Company made a $
0.5
 
million payment in May 2024
to the lessor as reimbursement for a portion of the costs related to the development
 
of subject property to support the construction
of a new banking office by the Company.
 
William G. Smith, III, the son of our Chairman,
 
President and Chief Executive Officer,
 
William G. Smith, Jr.,
 
is employed as
Chief Lending Officer at Capital City Bank.
 
In 2024, William G. Smith, III’s
 
total compensation (consisting of annual base
salary, annual bonus,
 
and stock-based compensation) was determined in accordance with
 
the Company’s standard employment
and compensation practices applicable to associates with similar responsibilities
 
and positions.