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Capital City Bank Group Inc - CCBG STOCK NEWS

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.

News

Capital City Bank Group, Inc. Reports First Quarter 2024 Results

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Capital City Bank Group, Inc. reported net income of $12.6 million for Q1 2024, up from $11.7 million in Q4 2023. Tax-equivalent net interest income decreased to $38.4 million, with a net interest margin of 4.01%. Noninterest income increased to $18.1 million, while noninterest expense was $40.2 million. Loan balances grew by $17.4 million, and deposit balances increased by $28.0 million. Overall, credit quality remained stable.
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Capital City Bank Group, Inc. Increases Cash Dividend

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Capital City Bank Group, Inc. (CCBG) announced a 5% increase in its quarterly cash dividend to $0.21 per share, with an annualized rate of $0.84 per share. The dividend yield stands at 3.04% based on a closing stock price of $27.61 on February 28, 2024.
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Capital City Bank Group, Inc. Announces Replacement Stock Repurchase Program

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Capital City Bank Group, Inc. (CCBG) has approved a new stock repurchase program, authorizing the repurchase of up to 750,000 shares of its common stock over the next five years. The program represents approximately 4.4% of the company's issued and outstanding shares of common stock. The Board of Directors also terminated the existing stock repurchase program.
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Capital City Bank Group, Inc. Reports Fourth Quarter 2023 Results

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Capital City Bank Group, Inc. (NASDAQ: CCBG) reported net income of $11.7 million for Q4 2023, compared to $12.7 million for Q3 2023, and $9.6 million for Q4 2022. Full year 2023 saw net income of $52.3 million, compared to $33.4 million for 2022. Loan balances grew by $38.6 million, while deposit balances declined by $46.8 million. The tangible book value per share increased by $1.23, reflecting a 6.4% increase. Tax-equivalent net interest income totaled $159.4 million for 2023, with a net interest margin of 4.05%. Noninterest income decreased by $3.6 million, and noninterest expense increased by $5.4 million. The effective tax rate for 2023 was 20.4%. Nonperforming assets totaled $6.2 million at December 31, 2023, and average total deposits were $3.549 billion for Q4 2023.
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Capital City Bank Named Among “Best Banks to Work For” By American Banker For 11 Years In A Row

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Capital City Bank (CCBG) has been named one of the 'Best Banks to Work For' by American Banker magazine for the eleventh consecutive year. With an overall rank of #40 out of 90 banks nationwide and #9 within the category of banks with assets more than $3 billion and less than $10 billion, Capital City Bank has been recognized for its commitment to fostering a positive and supportive work environment for its associates. The company offers an excellent benefits package, ongoing training programs, and incentives for associates learning new skills and utilizing technology to streamline processes.
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Related to Delayed Filing of Quarterly Report on Form 10-Q

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Capital City Bank Group, Inc. (CCBG) has received a notice from Nasdaq stating that it is not in compliance with the continued listing requirements due to the untimely filing of its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023. This does not immediately affect the listing or trading of CCBG's common stock on the Nasdaq Global Select Market. The company has 60 calendar days to submit a plan to regain compliance, with a possible extension of up to 180 days if the plan is accepted. CCBG expects to submit a plan or file the Form 10-Q within the prescribed timeline.
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Capital City Bank Group, Inc. Announces Cash Dividend

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Capital City Bank Group, Inc. (NASDAQ: CCBG) declares a quarterly cash dividend of $0.20 per share, resulting in an annualized rate of $0.80 per common share. The dividend, with an annualized yield of 2.76% based on a closing stock price of $29.02 on November 15, 2023, is payable on December 18, 2023, to shareowners of record as of December 4, 2023.
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Capital City Bank Group, Inc. Announces Late Filing of Third Quarter 2023 10-Q and Planned Restatements

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Capital City Bank Group, Inc. (CCBG) announced the identification of inter-company transactions between its subsidiaries, impacting its earnings release and financial statements. This discovery led to the delay in filing its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, and the need to restate certain historical financial information. The company is reassessing its internal controls and expects to report a material weakness in its internal controls. Management is committed to rectifying affected prior period financials and implementing new controls. The company intends to file amendments to its Annual Report on Form 10-K for the year ended December 31, 2022, and its Quarterly Reports on Form 10-Q for the three months ended March 31, 2023, and the three and six months ended June 30, 2023, including restated financial statements and related disclosures as promptly as practicable.
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Capital City Bank Group, Inc. Reports Third Quarter 2023 Results

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Capital City Bank Group reports net income of $13.2 million for Q3 2023, compared to $14.6 million in Q2 2023 and $11.3 million in Q3 2022. Net income for the first nine months of 2023 is $42.7 million, compared to $28.5 million for the same period in 2022.
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Capital City Bank Group, Inc. Increases Cash Dividend

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Capital City Bank Group, Inc. declares quarterly cash dividend of $0.20 per share, an 11.1% increase over the prior quarter. Annualized dividend yield is 2.66% based on closing stock price of $30.06 on August 23, 2023.
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FAQ

What is the current stock price of Capital City Bank Group (CCBG)?

The current stock price of Capital City Bank Group (CCBG) is $38.35 as of November 20, 2024.

What is the market cap of Capital City Bank Group (CCBG)?

The market cap of Capital City Bank Group (CCBG) is approximately 645.9M.

What services does Capital City Bank Group Inc. offer?

Capital City Bank Group Inc. offers a wide range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust services, merchant services, bankcards, securities brokerage, and financial advisory services.

How many banking offices does Capital City Bank Group Inc. have?

Capital City Bank Group Inc. operates 63 banking offices and 103 ATMs/ITMs in Florida, Georgia, and Alabama.

What was the net income for Capital City Bank Group Inc. in 2023?

For the full year of 2023, the net income attributable to common shareholders totaled $52.3 million, or $3.07 per diluted share.

What are the capital ratios for Capital City Bank Group Inc.?

As of March 31, 2024, Capital City Bank Group Inc.'s total risk-based capital ratio was 16.84%, with a common equity tier 1 capital ratio of 13.82% and a leverage ratio of 10.45%.

How does Capital City Bank Group Inc. ensure liquidity?

Capital City Bank Group Inc. maintains a strong liquidity position with the ability to generate approximately $1.542 billion in additional liquidity through various sources including federal funds purchased lines, Federal Home Loan Bank borrowings, and brokered deposits.

How has Capital City Bank Group Inc. performed financially in recent quarters?

Capital City Bank Group Inc. has seen significant financial growth, with net interest income totaling $159.4 million for 2023 and strong performance in loan growth and higher interest rates across its assets.

What are the credit quality metrics for Capital City Bank Group Inc.?

As of March 31, 2024, nonperforming assets totaled $6.8 million, representing 0.16% of total assets, indicating stable credit quality.

What is the history of Capital City Bank Group Inc.?

Capital City Bank Group Inc. was founded in 1895 and has grown to become one of the largest publicly traded financial holding companies headquartered in Florida.

Where can I find more information about Capital City Bank Group Inc.?

For more detailed information, visit the company's official website at www.ccbg.com.

What are the future plans for Capital City Bank Group Inc.?

Capital City Bank Group Inc. remains focused on client acquisition, enhancing client relationships, and exploring long-term value strategies for both clients and shareholders.

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Capital City Bank Group Inc

Nasdaq:CCBG

CCBG Rankings

#2886 Ranked by Market Cap
#1241 Ranked by Dividends

CCBG Stock Data

645.92M
13.64M
19.5%
47.65%
0.27%
Banks - Regional
State Commercial Banks
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United States of America
TALLAHASSEE