Welcome to our dedicated page for Capital City Bank Group news (Ticker: CCBG), a resource for investors and traders seeking the latest updates and insights on Capital City Bank Group stock.
Capital City Bank Group Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial holding companies based in Florida, boasting approximately $4.3 billion in assets. Established in 1895, the company's primary subsidiary, Capital City Bank, serves clients through 63 banking offices and 103 ATMs/ITMs in Florida, Georgia, and Alabama.
The company offers a comprehensive suite of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust services, merchant services, bankcards, securities brokerage services, and financial advisory services such as life insurance sales, risk management, and asset protection. Capital City Bank Group's diversified revenue streams, strong core deposit franchise, and stable credit quality have been key drivers of its robust financial performance.
Recent highlights include net income attributable to common shareholders of $52.3 million for the full year 2023, a significant increase from $33.4 million in 2022. The company has seen strong loan growth and higher interest rates across its earning assets, contributing to a net interest margin of 4.05% for 2023.
CCBG continues to enhance its market reach and service offerings. The bank maintained a strong liquidity position with the ability to generate approximately $1.542 billion in additional liquidity through various sources. The company's capital ratios remain robust, with a total risk-based capital ratio of 16.84% as of March 31, 2024, well above regulatory requirements for being considered 'well-capitalized.'
Consistently focused on exceeding client expectations, Capital City Bank Group aims to foster long-term value for both clients and shareholders. For more information about Capital City Bank Group, Inc., visit www.ccbg.com. Member FDIC, Equal Housing Lender, Equal Opportunity Employer.
Capital City Bank has been recognized as one of American Banker's 'Best Banks to Work For' for the 12th consecutive year, ranking #56 out of 90 banks nationwide and #15 among banks with assets between $3-10 billion. The bank, serving Florida, Georgia, and Alabama for 129 years, emphasizes associate development through comprehensive benefits, including insurance, stock purchase plans, and 401(k).
Recent initiatives include a new social recognition program, revamped intranet, and Culture Camp for two-year work anniversaries. The ranking process involved evaluating workplace policies (25%) and employee surveys (75%). Banks needed at least 50 U.S. employees and one year in business to qualify.
Capital City Bank Group (NASDAQ: CCBG) reported net income of $13.1 million, or $0.78 per diluted share, for Q3 2024. Key highlights include:
- Tax-equivalent net interest income increased to $40.3 million
- Net interest margin rose 10 basis points to 4.12%
- Noninterest income remained stable at $19.5 million
- Noninterest expense increased 6.1% to $42.9 million
- Loan balances decreased 0.3% to $2.68 billion
- Deposit balances decreased 0.8% to $3.58 billion
- Tangible book value per share grew 4.2% to $22.61
The company maintained stable credit quality with net loan charge-offs at 19 basis points. The allowance for credit losses increased to 1.11% of loans. Capital ratios remained strong, with a total risk-based capital ratio of 17.97%.
Capital City Bank has announced the promotion of Matthew Henderson to chief information security officer, effective October 1, 2024. He will succeed LeAnne Staalenburg McCorvey, who will retire on December 31, 2024. Henderson will lead the Corporate Security & Risk Department, overseeing both information and physical security teams.
Henderson joined Capital City Bank in September 2022 as an information security officer. He holds a Bachelor of Science and Master of Science in Management Information Systems and has multiple certifications in information security. With over 15 years of experience in IT, cybersecurity, and physical security, Henderson also serves on several advisory boards in the financial sector.
Bill Smith, Capital City Bank Group chairman, president and CEO, expressed confidence in Henderson's leadership for upholding high standards of security and risk management.
Capital City Bank Group, Inc. (NASDAQ: CCBG) has announced a 9.5% increase in its quarterly cash dividend. The Board of Directors declared a dividend of $0.23 per share, up from the previous $0.21 per share. This increase results in an annualized dividend rate of $0.92 per common share. The dividend will be payable on September 23, 2024, to shareholders of record as of September 9, 2024. Based on the closing stock price of $34.40 on August 28, 2024, the annualized dividend yield stands at 2.67%. This dividend hike demonstrates CCBG's commitment to delivering value to its shareholders and may indicate confidence in the company's financial performance.
Capital City Bank has promoted Lynne Jensen to Chief Technology Officer. In this role, Jensen will lead the bank's technology strategy, overseeing product development, cybersecurity, application architecture, AI platforms, infrastructure management, budgeting, and operational efficiency. With nearly three decades of experience in the technology sector, Jensen has been with Capital City Bank since 2004, most recently serving as IT network manager. Her promotion underscores the bank's commitment to technological advancement and expansion.
Jensen's prior experience includes roles at the Florida House of Representatives, PresGar Companies, iLIANT , and Medical Manager Health Systems/WebMD. She holds a Bachelor of Science in Information Technology from Colorado Technical University and is actively involved in animal welfare causes, volunteering with Born Free USA for the past eight years.
Capital City Bank has appointed Ashley Leggett as its new Chief People Officer. In this role, Leggett will oversee a newly formed talent division, encompassing Human Resources, Culture, and Learning and Development departments. Her primary focus will be on enhancing associate experiences throughout their tenure with the bank.
Leggett, a Tallahassee native and second-generation banker, brings 16 years of experience in various banking roles. She has served as the Human Resources senior operations manager for the past 18 months. Leggett's commitment to community service is evident through her involvement with numerous organizations and her receipt of the Julian V. Smith Community Involvement Award in 2024.
Bill Smith, Capital City Bank Group chairman, president and CEO, emphasized the importance of workplace culture, associate services, and development in delivering quality experiences for both internal and external stakeholders.
Capital City Bank has climbed to 19th place among Florida Trend's 'Best Companies To Work For In Florida' in the 'Large Companies' category, up from 24th last year. This marks the bank's 13th consecutive year on the list. The recognition highlights Capital City Bank's commitment to enhancing employee experience through initiatives focused on skill-building, career progression, and peer connections.
In addition to this accolade, Capital City Bank has received other notable recognitions:
- Ranked 15th out of 100 in Forbes' America's Best Banks list
- Consistently ranked among top employers in the financial industry by American Banker magazine
- Named in the 'Best Banks to Work For' feature for the 11th consecutive year
The 'Best Companies To Work For In Florida' program evaluates workplace policies, practices, and employee satisfaction, providing valuable insights for companies seeking to improve their work environments.
Capital City Bank Group (NASDAQ: CCBG) reported net income of $14.2 million, or $0.83 per diluted share, for Q2 2024. Key highlights include:
- Tax-equivalent net interest income increased to $39.3 million from $38.4 million in Q1 2024
- Net interest margin rose slightly to 4.02%
- Noninterest income grew by $1.5 million, or 8.3%, due to higher mortgage banking revenues
- Loan balances decreased slightly by 0.1% (average) and 1.5% (end of period)
- Deposit balances increased by 1.8% (average) but decreased 1.3% (end of period)
- Tangible book value per diluted share increased by 3.4%
The company maintained stable credit quality metrics and a well-controlled noninterest expense. The effective tax rate was reduced due to a new investment in a solar tax credit fund.
On May 30, 2024, Capital City Bank Group announced a quarterly cash dividend of $0.21 per share on its common stock, payable on June 24, 2024, to shareholders of record as of June 10, 2024. The annualized dividend amounts to $0.84 per share, yielding 3.14% based on a closing stock price of $26.74 on May 29, 2024.
Capital City Bank Group (CCBG) announced on May 24, 2024, that it received a notice from Nasdaq on May 21, 2024, regarding a deficiency due to the delayed filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. This delay means CCBG is not in compliance with Nasdaq Listing Rule 5250(c)(1). However, this notice has no immediate effect on the listing or trading of CCBG stock. The company has 60 days from the notice date to submit a compliance plan to Nasdaq and potentially up to 180 days to meet the requirements if the plan is accepted. CCBG aims to file the Form 10-Q within the prescribed timeline to avoid submitting a compliance plan.
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