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CAPITAL CITY BANK GROUP INC

For the period ended Dec 31, 2024. Filed Mar 11, 2025.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 11, 2025

CCBG$51.35+2.1%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Item 6. Selected Financial Data

(Dollars in Thousands, Except Per Share Data)

Interest Income

$

194,657

$

181,068

$

131,910

Net Interest Income

158,938

158,988

125,022

4,031

9,714

7,494

75,976

71,610

75,181

(1)

165,315

157,023

151,634

Pre-Tax Loss Attributable to Noncontrolling Interests

(2)

1,271

1,437

52,915

52,258

33,412

Per Common Share:

Basic Net Income

$

3.12

$

3.08

$

1.97

Diluted Net Income

3.12

3.07

1.97

Cash Dividends Declared

0.88

0.76

0.66

Diluted Book Value

29.11

25.92

22.73

Diluted Tangible Book Value

(3)

23.65

20.45

17.27

Performance Ratios:

Return on Average Assets

1.25

%

1.22

%

0.77

%

Return on Average Equity

11.18

12.40

8.81

Net Interest Margin (FTE)

4.08

4.05

3.14

Noninterest Income as % of Operating Revenues

32.34

31.05

37.55

Efficiency Ratio

70.30

67.99

75.62

Asset Quality:

Allowance for Credit Losses ("ACL")

$

29,251

$

29,941

$

25,068

ACL to Loans Held for Investment ("HFI")

1.10

%

1.10

%

0.98

%

Nonperforming Assets ("NPAs")

6,669

6,243

2,728

NPAs to Total

Assets

0.15

0.15

0.06

NPAs to Loans HFI plus OREO

0.25

0.23

0.11

ACL to Non-Performing Loans

464.14

479.70

1091.33

Net Charge-Offs to Average Loans HFI

0.21

0.18

0.18

Capital Ratios:

Tier 1 Capital

17.46

%

15.37

%

14.27

%

Total Capital

18.64

16.57

15.30

Common Equity Tier 1 Capital

15.54

13.52

12.38

Tangible Common Equity

(3)

9.51

8.26

6.65

Leverage

11.05

10.30

8.91

Equity to Assets

11.45

10.24

8.57

Dividend Pay-Out

28.21

24.76

33.50

Averages for the Year:

$

2,706,461

$

2,656,394

$

2,189,440

3,897,580

3,933,800

3,989,248

3,597,438

3,669,612

3,763,336

Shareowners’ Equity

473,216

421,482

379,290

Year

-End Balances:

$

$

$

2,547,685

3,974,431

3,957,452

4,177,177

4,519,223

3,939,317

Shareowners’ Equity

495,317

440,625

387,281

Other Data:

Basic Average Shares Outstanding

16,942,788

16,987,167

16,950,810

Diluted Average Shares Outstanding

16,968,623

17,022,922

16,984,740

Shareowners of Record

(4)

1,027

1,080

1,124

Banking Locations

(4)

Full-Time Equivalent Associates

(5)

(1)

For 2023 and 2022, includes pension settlement gain of

$0.3 million and charge of $2.3 million, respectively.

(2)

Acquired 51% membership interest in Brand Mortgage Group, LLC, re-named as Capital City Home Loans,

LLC, on March 1, 2020 - fully consolidated.

(3)

Diluted tangible book value and tangible common equity

ratio are non-GAAP financial measures. For additional information, including a reconciliation

to GAAP, refer

to page 42.

(4)

As of January 31st of the following year.

(5)

As of December 31, 2024.

NON-GAAP FINANCIAL MEASURES

We present a tangible

common equity ratio and a tangible book value per diluted share that, in each case,

removes the effect of

goodwill that resulted from merger and acquisition activity.

We believe these

measures

are useful to investors because it allows

investors to more easily compare our capital adequacy to other companies in

the industry.

The generally accepted accounting

principles (“GAAP”) to non-GAAP reconciliation for selected year-to-date

financial data is provided below.

Non-GAAP Reconciliation - Selected Financial Data

(Dollars in Thousands, except per share data)

Shareowners' Equity (GAAP)

$

495,317

$

440,625

$

387,281

Less: Goodwill and Other Intangibles (GAAP)

92,773

92,933

93,093

Tangible Shareowners' Equity (non-GAAP)

A

402,544

347,692

294,188

Total Assets (GAAP)

4,519,223

Less: Goodwill and Other Intangibles (GAAP)

92,773

92,933

93,093

Tangible Assets (non-GAAP)

B

$

4,232,159

$

4,211,544

$

4,426,130

Tangible Common Equity Ratio (non-GAAP)

A/B

9.51%

8.26%

6.65%

Actual Diluted Shares Outstanding (GAAP)

C

17,018,122

17,000,758

17,039,401

Tangible Book Value

per Diluted Share (non-GAAP)

A/C

23.65

20.45

17.27

Management’s

Discussion and Analysis of Financial Condition and Results of Operations

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