Note 17

RELATED PARTY TRANSACTIONS

At December 31, 2019 and 2018, certain officers and directors were indebted to the Company’s bank subsidiary in the aggregate amount of $7.7 million and $8.6 million, respectively.  During 2019, $10.9 million in new loans were made and repayments totaled $11.8 million.  These loans were all current at year-end.

Deposits from certain directors, executive officers, and their related interests totaled $29.7 million and $37.9 million at December 31, 2019 and 2018, respectively.

Under a lease agreement expiring in 2024, the Bank leases land from a partnership in which William G. Smith, Jr. has an interest. The lease agreement with Smith Interests General Partnership L.L.P. provides for annual lease payments of approximately $177,000, to be adjusted for inflation in future years.

William G. Smith, III, the son of our Chairman, President and Chief Executive Officer, William G. Smith, Jr., is employed as a Vice President of Capital City Bank.  In 2019, William G. Smith, III’s total compensation (consisting of annual base salary, annual bonus, and stock-based compensation) was approximately $152,000. His compensation was determined in accordance with our standard employment and compensation practices applicable to associates with similar responsibilities and positions.