Annual report pursuant to Section 13 and 15(d)

REGULATORY MATTERS

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REGULATORY MATTERS
 12 Months Ended
Dec. 31, 2013
Banking and Thrift [Abstract]  
REGULATORY MATTERS

Note 13

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.

 

Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the following table) of total and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). Management believes, as of December 31, 2013 and 2012, that the Company and the Bank meet all capital adequacy requirements to which they are subject.

 

As of December 31, 2013, 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 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 as of December 31, 2013 and 2012 are also presented in the table.

 

    Actual   Required
For Capital
Adequacy Purposes		   To Be Well-
Capitalized Under
Prompt Corrective
Action Provisions
(Dollars in Thousands)   Amount   Ratio   Amount   Ratio   Amount   Ratio
2013                        
Tier I Capital:                                                
CCBG   $ 256,338       16.56 %   $ 62,058       4.00 %     *       *  
CCB     256,554       16.59 %     61,992       4.00 %   $ 92,988       6.00 %
                                                 
Total Capital:                                                
CCBG     277,618       17.94 %     124,116       8.00 %     *       *  
CCB     275,927       17.85 %     123,984       8.00 %     154,980       10.00 %
                                                 
Tier I Leverage:                                                
CCBG     256,338       10.46 %     98,029       4.00 %     *       *  
CCB     256,554       10.48 %     97,931       4.00 %     122,414       5.00 %
                                                 
2012                                                
Tier I Capital:                                                
CCBG   $ 239,520       14.35 %   $ 67,104       4.00 %     *       *  
CCB     239,955       14.39 %     67,045       4.00 %   $ 100,567       6.00 %
                                                 
Total Capital:                                                
CCBG     262,377       15.72 %     134,207       8.00 %     *       *  
CCB     260,906       15.64 %     134,089       8.00 %     167,612       10.00 %
                                                 
Tier I Leverage:                                                
CCBG     239,520       9.90 %     96,824       4.00 %     *       *  
CCB     239,955       9.93 %     96,694       4.00 %     120,868       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 2014, the bank subsidiary may declare dividends without regulatory approval of $4.5 million plus an additional amount equal to net profits of the Company’s subsidiary bank for 2014 up to the date of any such dividend declaration.