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CAPITAL CITY BANK GROUP INC

For the period ended Dec 31, 2025. Filed Feb 27, 2026.

View on SEC.gov

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.

FY2025 · Filed Feb 27, 2026

CCBG$50.31-0.1%Stored close · as of Nov 6, 2026

What changed in Risk Factors?

Read the current filing

Previous report: 10-K

Period ended 2024-12-31; filed 2025-03-11.

0000726601-25-000013

Item 1A. Risk Factors

Current report: 10-K

Period ended 2025-12-31; filed 2026-02-27.

0000726601-26-000007

Item 1A. Risk Factors

The baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.

Compared 1875 previous paragraphs and 1995 current paragraphs.

1485 unchanged; 203 reworded; 292 added; 170 removed; 17 previous and 15 current paragraphs rearranged.

Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.

A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.

Added paragraphs (292)

Current report

including inflation, changes in trade policies by the United States or other

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countries, such as tariffs or retaliatory tariffs, recession,

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domestic and international events and changes in the United States and

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liabilities than interest-earning assets

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decrease of 1.00%. We

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are currently

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operating in an environment in which the Federal Reserve has shifted toward reducing

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interest rates, although modestly,

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implemented in September, October

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and December 2025.

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However, the inflationary outlook remains uncertain

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and if the Federal

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Reserve were to further decrease interest rates, this may constrain our interest

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rate spread due to our asset sensitivity and may

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adversely affect our business forecasts. On the other hand,

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rapid increases in the target federal funds rate may result in a change

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the mix of noninterest and interest-bearing accounts and effect

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our interest rate spread. New appointments to the Board of

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Governors at the Federal Reserve could result in a change in monetary policy

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and interest rates, and the potential erosion of

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Federal Reserve independence could negatively impact financial markets

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and impact our profitability.

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We are unable to

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our control, including inflation, deflation, recession,

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unemployment, money supply and other changes in financial markets.

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businesses. Consequently, the

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ability of our business customers

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results of operations and financial condition. Furthermore, a prolonged

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weaken economic activity.

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an increase

Showing the first 40 of 292 passages. Open the source sections for the rest.

Removed paragraphs (170)

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rate, money supply, domestic and

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international events and

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interest rates are rising.

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decrease of 1.00%. In December 2024,

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the Federal Reserve released its economic projections suggesting that it will reduce

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the federal funds rate twice in 2025 for a

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cumulative decrease of 0.50% for the year, but

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there is no guarantee that the Federal Reserve will further reduce the federal funds

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rate in the near-term and could maintain the rate at the current level or

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even increase it.

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Inflation rose sharply at the end of 2021 and continued rising in 2022 at levels not

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seen for over 40 years. Inflationary pressures

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eased but remained elevated throughout 2023 and 2024. Small to medium

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to larger businesses.

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Consequently, the

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occur quickly,

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a prolonged period

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activity. A deterioration in economic

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conditions in the

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condition, and results of operations.

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adversely affect

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our ability

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to anticipate

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business needs

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regulatory requirements.

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difficult economic

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conditions

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may negatively

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affect consumer

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confidence levels.

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A decrease in

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consumer confidence

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likely aggravate

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the adverse

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of our total loan portfolio.

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of the borrower’s business. In

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2024, construction loans comprised approximately 8.3% of our total loan portfolio.

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approximately 3.7% of our total loan portfolio.

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at maturity.

Showing the first 40 of 170 passages. Open the source sections for the rest.

Reworded paragraphs (203)

Previous wording

including inflation, recession, unemployment, federal funds target

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unemployment, federal funds target rate, money supply,

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may be reduced if: (i) more interest-earning

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other financial markets. Our net interest income may be reduced if: (i) more

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interest rates are declining or (ii) more interest-bearing

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reprice or mature during a time when interest rates are declining or (ii) more interest-bearing

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assets than interest-bearing liabilities reprice or mature during a time when

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reprice or mature during a time when interest rates are rising.

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-sized businesses may be impacted more during periods

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Small to medium-sized businesses may be impacted more during periods

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of high inflation as they are not able to leverage economies of scale to mitigate cost pressures compared

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of high inflation as they are not able to leverage

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ability of our business customers to repay their loans may deteriorate, and in some cases this deterioration

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to repay their loans may deteriorate, and in some cases this deterioration may occur

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which would adversely impact our results of operations and financial condition. Furthermore,

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quickly, which would adversely impact

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of inflation could cause wages and other costs to further increase which could

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period of inflation could cause wages and other costs to

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financial condition. Sustained higher interest rates by the Federal Reserve may

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operations and financial condition. Sustained higher interest rates by

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be needed to tame persistent inflationary price

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the Federal Reserve may be needed to tame persistent inflationary price

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pressures, which could push down asset prices and weaken economic

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pressures, which could push down asset prices and

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United States and our markets could result in an increase in loan delinquencies

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A deterioration in economic conditions in the United States and our markets could result in

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and non-performing assets, decreases in loan

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in loan delinquencies and non-performing assets, decreases in loan collateral

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collateral values and a decrease in demand for our products and services, all of

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values and a decrease in demand for our products

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which, in turn, would adversely affect our

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and services, all of which, in turn, would adversely affect our business,

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Our profitability and the success of our business depends substantially on the

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Our profitability and the success of our business depends substantially on the general

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general economic conditions of the States of Florida

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economic conditions of the States of Florida

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effects of these difficult market conditions

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likely aggravate the adverse effects of these difficult

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on us and our customers.

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market conditions on us and our customers.

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A portion of our investment securities portfolio (41.5%) at December 31,

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A portion of our investment securities portfolio (62.9%) at December

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2024 has been designated as available-for-sale pursuant

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31, 2025 has been designated as available-for-sale pursuant

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December 31, 2024 was approximately 31,390 shares. Due to the limited trading

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December 31, 2025 was approximately 37,371 shares. Due to the limited

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activity of our common stock, relativity small

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trading activity of our common stock, relativity small

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31, 2024, commercial mortgage loans comprised approximately 29.4%

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31, 2025, commercial mortgage loans comprised approximately

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. Repayment is generally dependent upon the successful operation

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. Repayment is generally dependent upon the successful operation of the borrower’s

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value based on the success of the business. At December 31, 2024, commercial

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value based on the success of the business. These loans are also sensitive to broader

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loans comprised approximately 7.1% of

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approximately 7.1% of our total loan portfolio.

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construction costs exceed estimates, the value of the property securing our

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and immigration policies, the value of the property securing our

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loan may be insufficient to ensure full

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loan may be insufficient to ensure full repayment when

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repayment when completed through a permanent loan, sale of the property,

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completed through a permanent loan, sale of the property,

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amortizing over the loan period, but rather have a balloon payment due

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amortizing over the loan period but rather have a balloon payment due at maturity.

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At December 31, 2024, HELOCs comprised approximately 8.3% of

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At December 31, 2025, HELOCs comprised approximately 9.5% of

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December 31, 2024, consumer loans comprised approximately 7.6%

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December 31, 2025, consumer loans comprised approximately 7.2%

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making up a majority of this portfolio at approximately 87.9% of the total balance.

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making up a majority of this portfolio at approximately 85.9% of the total balance.

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At December 31, 2024, approximately 85.3% of our loans included real estate as a primary,

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At December 31, 2025, approximately 85.7% of our loans included real estate as a primary,

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or loss on loans originated by us. We

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or loss on loans originated by us. Severe weather

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further losses due to the decline in the value of the properties underlying our

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suffer further losses due to the decline in the value of the properties underlying

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mortgage loans, which would have an adverse

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our mortgage loans, which would have an adverse

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As of this same date, approximately 8.3% was secured by property under construction.

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As of this same date, approximately 5.8% was secured by property under construction.

Showing the first 40 of 203 pairs. Open the source sections for the rest.

Rearranged current paragraphs (15)

Current report — wording carried from elsewhere

interest-earning assets than interest-bearing liabilities

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changes in interest rates, which are affected by factors beyond

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economies of scale to mitigate cost pressures compared to larger

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further increase which could adversely affect our results of

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with the ownership of real property as a

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to store sensitive data, including our proprietary business information

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or to introduce viruses or other malware programs to our

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material adverse effect on our business, financial condition,

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impact of the incident on our business, financial condition, and results of

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and adversely affecting our business, financial condition,

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the activity of financial technology companies has grown significantly over recent

Current report — wording carried from elsewhere

intermediation, including distributed ledgers such as digital assets and blockchain,

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Company’s, or its third-party providers’,

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have a material adverse effect on our business, financial

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approval of mergers, acquisitions or other extraordinary
Rearranged previous paragraphs (17)

Previous report — wording carried elsewhere

changes in the United States and other financial markets. Our net interest income

Previous report — wording carried elsewhere

liabilities than interest-earning assets reprice or mature during a time when

Previous report — wording carried elsewhere

adversely affect our results of operations and

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the risk characteristics of various classifications of loans;

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with the ownership of real property

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foregoing could have a material adverse effect on our

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business, financial condition, and results of operations.

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turn, could have an adverse effect on our financial condition and

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malware programs to our information systems, the

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our operations and those of our customers; (ii) result

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our business, financial condition, and results of

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In particular, the activity of financial technology

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our Chairman, President and Chief Executive Officer

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tangible book value and net income per common share may occur in

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cost savings, increases in geographic or product

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a material adverse effect on our business, financial

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business, financial condition and results of operations.