Core Insights - Capital City Bank has been recognized as one of American Banker's "Best Banks to Work For" for the 13th consecutive year, ranking 37 nationwide and 8 among banks with assets between $3 billion and $10 billion, showing significant improvement from its previous year's rankings of 56 and 15 respectively [1] Company Overview - Capital City Bank Group, Inc. is a publicly traded financial holding company based in Florida with approximately $4.3 billion in assets, offering a full range of banking services including traditional deposit and credit services, mortgage banking, asset management, and securities brokerage [5] Employee Engagement and Culture - The recognition reflects the commitment of the bank's associates, emphasizing a workplace culture that values, supports, and inspires personal and professional growth [2] - The bank provides a comprehensive benefits package, including insurance, a stock purchase plan, 401(k), paid time off, and tuition assistance, alongside continuous learning programs to encourage skill development [2] Initiatives for Associate Support - Capital City Bank launched initiatives such as The Spotlight and Navigator to enhance associate engagement and support, focusing on both work-related and personal needs [3][6] Evaluation Process for Rankings - The "Best Banks to Work For" rankings are determined through a two-step evaluation process, with 25% based on workplace policies and practices, and 75% based on associate surveys assessing individual experiences and attitudes [3][4]

Core Insights - Capital City Bank has been recognized as one of American Banker's "Best Banks to Work For" for the 13th consecutive year, ranking 37 out of 90 banks nationwide and 8 among banks with assets between $3 billion and $10 billion, showing significant improvement from its previous year's rankings of 56 and 15 respectively [1] Company Overview - Capital City Bank Group, Inc. is a publicly traded financial holding company headquartered in Florida with approximately $4.3 billion in assets, offering a full range of banking services including traditional deposit and credit services, mortgage banking, asset management, and securities brokerage [5] Employee Engagement and Culture - The recognition reflects the commitment of the bank's associates, emphasizing a workplace culture where employees feel valued and supported, with a focus on personal and professional growth [2] - The bank provides a comprehensive benefits package, including insurance, a stock purchase plan, 401(k), paid time off, and tuition assistance, alongside continuous learning programs to encourage skill development [2] Initiatives for Associate Support - Capital City Bank launched initiatives such as The Spotlight and Navigator to enhance associate engagement, providing platforms for recognition and resources for essential needs [3][6] - The evaluation process for the "Best Banks to Work For" involved assessing workplace policies and practices (25% of total evaluation) and associate surveys (75% of total evaluation) to gauge employee experiences [3][4]

Core Insights - Capital City Bank has appointed Alicia Williams-Ronan as the new chief retail officer, succeeding Randy Lashua who will retire on December 31 after 20 years of service [1][2] - Williams-Ronan will oversee strategy and management for retail sales, service, and operations, leading 350 associates across 63 banking offices in Florida, Georgia, and Alabama [1][6] Company Overview - Capital City Bank Group, Inc. is one of the largest publicly traded financial holding companies in Florida, with approximately $4.3 billion in assets [5] - The bank provides a full range of banking services, including traditional deposit and credit services, mortgage banking, asset management, and financial advisory services [5] Leadership Background - Alicia Williams-Ronan has been with Capital City Bank since 2005, advancing through various roles in client service, technology, and senior operations leadership [2][3] - Prior to her new role, she served as the Bank Operations Group manager for over five years, focusing on optimizing workflows and enhancing client satisfaction [3][4] Community Engagement - Williams-Ronan is dedicated to community service and has been a long-time supporter of the United Way of the Big Bend [4]

Financial Performance - Net income attributable to common shareholders for Q3 2025 was $16.0 million, or $0.93 per diluted share, compared to $15.0 million, or $0.88 per diluted share in Q2 2025, and $13.1 million, or $0.77 per diluted share in Q3 2024 [170]. - For the first nine months of 2025, net income attributable to common shareholders was $47.9 million, or $2.80 per diluted share, compared to $39.8 million, or $2.35 per diluted share for the same period in 2024 [170]. - Noninterest income for Q3 2025 was $22.3 million, compared to $20.0 million in Q2 2025 and $19.5 million in Q3 2024 [168]. - Noninterest income for the first nine months of 2025 totaled $62.3 million, a 9.3% increase from $57.2 million in the same period of 2024, driven by increases in wealth management fees, mortgage banking revenues, and other income [189]. - Net interest income for Q3 2025 was $43.6 million, an increase from $43.2 million in Q2 2025 and $40.3 million in Q3 2024 [184]. - Net interest income for the three months ended September 30, 2025, was $43,602 thousand, up from $40,260 thousand in the same period of 2024, representing an increase of 5.8% [256]. - The company reported a net interest income of $128,421 thousand for the nine months ended September 30, 2025, compared to $118,029 thousand for the same period in 2024, marking an increase of 8.5% [256]. Asset and Capital Management - Total assets as of Q3 2025 were $4.32 billion, a decrease from $4.39 billion in Q2 2025 [167]. - Total assets increased to $4,317,951 thousand in Q3 2025 from $4,215,862 thousand in Q3 2024, reflecting a growth of 2.6% [256]. - The tangible common equity ratio for Q3 2025 was 10.66%, up from 10.09% in Q2 2025 and 9.28% in Q3 2024 [167]. - Shareowners' equity rose to $540.6 million at September 30, 2025, up from $526.4 million at June 30, 2025, driven by net income of $47.9 million and a decrease in accumulated other comprehensive loss [247]. - The total risk-based capital ratio was 20.59% at September 30, 2025, compared to 19.60% at June 30, 2025, indicating strong capital adequacy [248]. Income and Expense Analysis - Noninterest expense for Q3 2025 was $42.9 million, a slight increase of $0.4 million or 0.9% from Q2 2025, and unchanged from Q3 2024 [174]. - Noninterest expense for the first nine months of 2025 totaled $124.2 million, a 0.5% increase from $123.5 million in the same period of 2024, primarily due to a $4.2 million increase in compensation expense [199]. - Total noninterest expense for Q3 2025 was $42.9 million, comparable to Q3 2024, with a slight increase from $42.5 million in Q2 2025 [198]. - Compensation expense for the first nine months of 2025 was $78.8 million, a $4.2 million increase from $74.6 million in the same period of 2024, driven by increases in salary and associate benefit expenses [202]. Credit Quality and Loss Provisions - The provision for credit losses in Q3 2025 was $1.9 million, significantly higher than $0.6 million in Q2 2025 and $1.2 million in Q3 2024 [168]. - Nonperforming assets increased to $10.0 million in Q3 2025 from $6.6 million in Q2 2025 [168]. - The allowance for credit losses for loans HFI was $30.2 million at September 30, 2025, representing 1.17% of loans HFI, up from 1.13% at June 30, 2025 [221]. - Nonperforming assets totaled $10.0 million at September 30, 2025, representing 0.23% of total assets, up from $6.6 million (0.15%) at June 30, 2025 [217]. Deposits and Funding - Average total deposits were $3.612 billion in Q3 2025, a decrease of $68.4 million or 1.86% from Q2 2025 [178]. - Total deposits at September 30, 2025, were $3.615 billion, a decrease of $89.9 million (2.4%) from June 30, 2025 [224]. - Average short-term borrowings totaled $34.7 million in Q3 2025, slightly up from $33.1 million in Q2 2025, primarily due to mortgage warehouse borrowing activity [243]. - The company continues to monitor its cost of deposits and deposit mix amid the current rate environment [226]. Interest Rates and Economic Value - The interest rate spread improved to 3.81% in Q3 2025 from 3.49% in Q3 2024 [256]. - The estimated changes in net interest income (NII) for a 12-month shock indicate a potential increase of 18.9% to 4.9% under rising rate scenarios, while a decrease of -5.3% to -23.8% is expected under falling rate scenarios as of September 30, 2025 [233]. - The economic value of equity (EVE) is projected to increase by 34.2% to 10.5% in rising rate environments, but decrease by -12.0% to -40.7% in falling rate environments as of September 30, 2025 [235].

Core Viewpoint - Capital City Bank Group (NASDAQ: CCBG) has demonstrated consistent performance among small regional banks, with an 11% increase year-to-date and an impressive 86.9% rise over the past decade [1]. Group 1: Company Performance - CCBG's stock has been one of the more consistent performers in the small regional bank sector over the last 10 years [1]. - The stock has increased by 11% year-to-date, indicating strong current performance [1]. - Over the past decade, CCBG's stock has risen by 86.9%, showcasing significant long-term growth [1]. Group 2: Market Perspective - The financial markets are viewed as efficient, with most stocks reflecting their real current value [1]. - The best investment opportunities are often found in stocks that are less widely followed or those that do not accurately reflect market opportunities [1].

Core Viewpoint - Capital City Bank Group (NASDAQ: CCBG) has demonstrated consistent performance among small regional banks, with a year-to-date stock increase of 11% and a total rise of 86.9% over the past decade [1]. Group 1 - CCBG's stock performance has been notably strong, making it one of the better performers in its category over the last 10 years [1]. - The stock has shown a year-to-date increase of 11%, indicating positive market sentiment and investor confidence [1]. - Over the last decade, CCBG's stock has appreciated by 86.9%, reflecting its robust growth trajectory [1].

[Executive Summary & Quarter Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Quarter%20Highlights) [Quarter Highlights (Q3 2025 vs Q2 2025)](index=1&type=section&id=Quarter%20Highlights) Capital City Bank Group reported strong Q3 2025 results, with increased net income, robust ROA and ROE, and revenue growth | Metric | Q3 2025 | Q2 2025 | Q3 2024 | | :-------------------------------- | :------ | :------ | :------ | | Net Income Attributable to Common Shareowners | $16.0 million | $15.0 million | $13.1 million | | Diluted EPS | $0.93 | $0.88 | $0.77 | | Return on Average Assets (ROA) | 1.47% | - | - | | Return on Average Equity (ROE) | 11.67% | - | - | | Tangible Book Value per Diluted Share Increase | $1.01 (4.0%) | - | - | - Revenue growth was driven by continued **net interest margin expansion** and **higher noninterest income**[3](index=3&type=chunk) | Metric (Q3 2025 vs Q2 2025) | Value | Change | | :-------------------------------- | :---- | :----- | | Tax-equivalent Net Interest Income | $43.6 million | Up $0.4 million | | Net Interest Margin | 4.34% | Up 4 basis points | | Cost of Funds | 78 basis points | Down 4 basis points | | Provision for Credit Losses | $1.9 million | Up $1.3 million | | Net Loan Charge-offs (annualized) | 18 basis points | - | | Allowance Coverage Ratio | 1.17% | Up from 1.13% | | Noninterest Income | Up $2.3 million | Up 11.6% | | Noninterest Expense | Up $0.4 million | Up 0.9% | | Loan Balances (average) | Down $46.4 million | Down 1.7% | | Deposit Balances (average) | Down $68.4 million | Down 1.9% | | Noninterest Bearing Deposits (% of total deposits) | 36.4% | - | [Discussion of Operating Results](index=2&type=section&id=Discussion%20of%20Operating%20Results) [Net Interest Income/Net Interest Margin](index=2&type=section&id=Net%20Interest%20Income%2FNet%20Interest%20Margin) Net interest income and margin grew, driven by increased investment securities income and lower interest expense | Metric | Q3 2025 | Q2 2025 | Q3 2024 | YTD 2025 | YTD 2024 | | :-------------------------------- | :------ | :------ | :------ | :------- | :------- | | Tax-equivalent Net Interest Income | $43.6M | $43.2M | $40.3M | $128.4M | $118.0M | | Net Interest Margin | 4.34% | 4.30% | 4.12% | 4.28% | 4.05% | | Cost of Funds | 78 bps | 82 bps | 93 bps | - | - | | Cost of Deposits | 80 bps | 81 bps | 92 bps | - | - | - The increase in net interest income was primarily due to a **$3.0 million increase in investment securities income (YoY)** and a **$0.4 million decrease in interest expense (QoQ)**, driven by new investment purchases at higher yields and gradual decreases in deposit rates[5](index=5&type=chunk) - Net interest margin improved by **4 basis points QoQ** and **22 basis points YoY**, reaching **4.34%** in Q3 2025, reflecting a higher yield in the investment portfolio and lower deposit costs[7](index=7&type=chunk) [Provision for Credit Losses](index=2&type=section&id=Provision%20for%20Credit%20Losses) Provision for credit losses increased significantly in Q3 2025, but year-to-date provision remained comparable | Metric | Q3 2025 | Q2 2025 | Q3 2024 | YTD 2025 | YTD 2024 | | :-------------------------- | :------ | :------ | :------ | :------- | :------- | | Provision for Credit Losses | $1.9 million | $0.6 million | $1.2 million | $3.3 million | $3.3 million | [Noninterest Income and Noninterest Expense](index=3&type=section&id=Noninterest%20Income%20and%20Noninterest%20Expense) Noninterest income grew substantially in Q3 2025, driven by an insurance subsidiary sale; noninterest expense slightly increased | Metric | Q3 2025 | Q2 2025 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------- | :------ | :------ | :------ | :------- | :------- | | Noninterest Income | $22.3 million | $20.0 million | $19.5 million | $62.3 million | $57.2 million | | Noninterest Expense | $42.9 million | $42.5 million | $42.9 million | $124.2 million | $123.5 million | - The **$2.3 million (11.6%) QoQ increase in noninterest income** was primarily driven by a **$1.2 million increase in other income** (including a **$0.7 million gain from the sale of an insurance subsidiary**), **$0.6 million in mortgage banking revenues**, and **$0.6 million in deposit fees**[10](index=10&type=chunk) - The **$0.4 million (0.9%) QoQ increase in noninterest expense** was due to an **$0.8 million increase in other expense** (higher miscellaneous and professional fees), partially offset by a **$0.4 million decrease in compensation expense**[13](index=13&type=chunk) [Income Taxes](index=3&type=section&id=Income%20Taxes) Income tax expense and effective tax rate increased due to reduced tax benefits; a 24% annual rate is expected for 2025 | Metric | Q3 2025 | Q2 2025 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------ | :------ | :------ | :------ | :------- | :------- | | Income Tax Expense | $5.1 million | $5.0 million | $3.0 million | $15.3 million | $9.7 million | | Effective Tax Rate | 24.4% | 24.9% | 19.1% | 24.2% | 20.1% | - The increase in the effective tax rate compared to prior year periods was driven by a **lower level of tax benefit accrued from a solar tax credit equity fund**[15](index=15&type=chunk) - The company expects its annual effective tax rate to approximate **24% for 2025**, absent discrete items or new tax credit investments[15](index=15&type=chunk) [Discussion of Financial Condition](index=4&type=section&id=Discussion%20of%20Financial%20Condition) [Earning Assets](index=4&type=section&id=Earning%20Assets) Average earning assets slightly decreased QoQ, mainly from lower loans HFI and investment securities, partially offset by overnight funds | Metric | Q3 2025 (Average) | Q2 2025 (Average) | Q4 2024 (Average) | | :-------------------- | :---------------- | :---------------- | :---------------- | | Total Earning Assets | $3.982 billion | $4.032 billion | $3.922 billion | | Change QoQ | Down $50.5 million (1.3%) | - | - | | Change vs Q4 2024 | Up $59.6 million (1.5%) | - | - | - The QoQ change in earning asset mix reflected a **$46.4 million decrease in loans HFI** and a **$14.1 million decrease in investment securities**, partially offset by a **$7.4 million increase in overnight funds sold** and a **$2.6 million increase in loans HFS**[16](index=16&type=chunk) [Loans Held for Investment (HFI)](index=4&type=section&id=Loans%20Held%20for%20Investment%20%28HFI%29) Loans HFI decreased on average and end-of-period, with declines in construction and consumer loans, partially offset by home equity growth | Metric | Q3 2025 (Average) | Q2 2025 (Average) | Q4 2024 (Average) | | :-------------------------- | :---------------- | :---------------- | :---------------- | | Average Loans HFI | Down $46.4 million (1.8%) | - | - | | Average Loans HFI vs Q4 2024 | Down $71.2 million (2.7%) | - | - | | EOP Loans HFI (Sep 30, 2025) | $2.582 billion | Down $49.5 million (1.9%) QoQ | Down $69.5 million (2.6%) vs Dec 31, 2024 | - The QoQ decline in average loans HFI was primarily in **construction loans ($22.4 million)**, **consumer loans ($10.4 million)**, and **commercial real estate loans ($8.7 million)**, partially offset by a **$2.0 million increase in home equity loans**[17](index=17&type=chunk) [Allowance for Credit Losses](index=4&type=section&id=Allowance%20for%20Credit%20Losses) Allowance for credit losses for loans HFI slightly increased due to qualitative adjustments; net charge-offs rose QoQ but fell YTD | Metric | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | | :-------------------------------- | :----------- | :----------- | :----------- | | Allowance for Credit Losses (HFI) | $30.2 million | $29.9 million | $29.3 million | | Allowance as % of Loans HFI | 1.17% | 1.13% | 1.10% | | Net Loan Charge-offs (Q3 2025) | 18 bps of average loans | 9 bps (Q2 2025) | - | | Net Loan Charge-offs (YTD 2025) | 12 bps | - | 20 bps (YTD 2024) | - The slight increase in the allowance was primarily attributable to **qualitative factor adjustments** that were partially offset by lower loan balances[19](index=19&type=chunk) [Credit Quality](index=4&type=section&id=Credit%20Quality) Nonperforming assets and nonaccrual loans significantly increased in Q3 2025, mainly from home equity loans, while classified loans decreased QoQ | Metric | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | | :-------------------------------- | :----------- | :----------- | :----------- | | Nonperforming Assets (NPAs) | $10.0 million | $6.6 million | $6.7 million | | NPAs as % of Total Assets | 0.23% | 0.15% | 0.15% | | Nonaccrual Loans | $8.2 million | $6.4 million | $6.3 million | | Classified Loans | $26.5 million | $28.6 million | $19.9 million | - The increase in nonaccrual loans was primarily attributable to **two home equity loans totaling $1.8 million**[20](index=20&type=chunk) [Deposits](index=4&type=section&id=Deposits) Total deposits decreased due to seasonal public fund reductions, partially offset by core deposit growth | Metric | Q3 2025 (Average) | Q2 2025 (Average) | Q4 2024 (Average) | | :-------------------- | :---------------- | :---------------- | :---------------- | | Average Total Deposits | $3.612 billion | Down $68.4 million (1.86%) QoQ | Up $11.9 million (0.33%) vs Q4 2024 | | EOP Total Deposits (Sep 30, 2025) | $3.615 billion | Down $89.9 million (2.4%) QoQ | Down $57.1 million (1.6%) vs Dec 31, 2024 | | Public Funds (EOP) | $497.9 million | $596.6 million (Jun 30, 2025) | $660.9 million (Dec 31, 2024) | - The decrease in deposits compared to both prior periods was due to a **decline in public fund deposits**, partially offset by **growth in core deposits**[22](index=22&type=chunk) [Liquidity](index=5&type=section&id=Liquidity) The company maintained strong liquidity with increased average net overnight funds sold and substantial additional capacity from various sources | Metric | Q3 2025 (Average) | Q2 2025 (Average) | Q4 2024 (Average) | | :-------------------------- | :---------------- | :---------------- | :---------------- | | Average Net Overnight Funds Sold | $356.2 million | $348.8 million | $298.3 million | | Additional Liquidity Capacity | ~$1.625 billion | - | - | | Investment Portfolio Weighted-Average Maturity | 2.66 years | - | - | | Investment Portfolio Duration | 2.15 years | - | - | | Available-for-Sale Portfolio Net Unrealized After-Tax Loss | $11.2 million | - | - | - The company had the ability to generate approximately **$1.625 billion in additional liquidity** through various sources including federal funds purchased lines, Federal Home Loan Bank borrowings, the Federal Reserve Discount Window, and brokered deposits[25](index=25&type=chunk) [Capital](index=5&type=section&id=Capital) Shareowners' equity and all regulatory capital ratios significantly improved, exceeding 'well-capitalized' thresholds, driven by net income and reduced AOCI | Metric | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | | :-------------------------- | :----------- | :----------- | :----------- | | Shareowners' Equity | $540.6 million | $526.4 million | $495.3 million | | Total Risk-Based Capital Ratio | 20.59% | 19.60% | 18.64% | | Common Equity Tier 1 Capital Ratio | 17.73% | 16.81% | 15.54% | | Leverage Ratio | 11.64% | 11.14% | 11.05% | | Tangible Common Equity Ratio | 10.66% | 10.09% | 9.51% | - Shareowners' equity was positively impacted by **net income attributable to shareowners of $47.9 million** and a **net $7.7 million decrease in the accumulated other comprehensive loss** for the first nine months of 2025[27](index=27&type=chunk) - All regulatory capital ratios exceeded the thresholds to be designated as **'well-capitalized'** under the Basel III capital standards at September 30, 2025[28](index=28&type=chunk) [About Capital City Bank Group, Inc.](index=6&type=section&id=About%20Capital%20City%20Bank%20Group%2C%20Inc.) [Company Overview](index=6&type=section&id=Company%20Overview) Capital City Bank Group, Inc. is a Florida-headquartered publicly traded financial holding company offering comprehensive banking services across three states - Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial holding companies headquartered in Florida, with approximately **$4.3 billion in assets**[30](index=30&type=chunk) - The company provides a full range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services, bankcards, and securities brokerage services[30](index=30&type=chunk) - Its bank subsidiary, Capital City Bank, founded in 1895, operates **62 banking offices** and **108 ATMs/ITMs** in Florida, Georgia, and Alabama[30](index=30&type=chunk) [FORWARD-LOOKING STATEMENTS](index=6&type=section&id=FORWARD-LOOKING%20STATEMENTS) [Disclaimer on Future Results](index=6&type=section&id=Disclaimer%20on%20Future%20Results) Forward-looking statements are subject to uncertainties and risks, which could cause actual results to differ materially due to economic, regulatory, and operational factors - Forward-looking statements are based on current plans and expectations that are subject to uncertainties and risks, which could cause future results to differ materially[31](index=31&type=chunk) - Key factors that could cause actual results to differ include changes in trade, monetary, and fiscal policies, inflation, interest rate fluctuations, economic conditions, legal and regulatory developments, and technological changes[31](index=31&type=chunk) - The company assumes no obligation to update forward-looking statements or the reasons why actual results could differ, except as required by law[31](index=31&type=chunk) [USE OF NON-GAAP FINANCIAL MEASURES](index=7&type=section&id=USE%20OF%20NON-GAAP%20FINANCIAL%20MEASURES) [Non-GAAP Reconciliation](index=7&type=section&id=Non-GAAP%20Reconciliation) Non-GAAP measures like tangible common equity and book value per share are presented to compare capital adequacy by excluding goodwill and intangibles - The company presents **tangible common equity ratio** and **tangible book value per diluted share**, which remove the effect of goodwill and other intangibles resulting from merger and acquisition activity[33](index=33&type=chunk) - These non-GAAP measures are considered useful to investors for comparing capital adequacy to other companies in the industry[33](index=33&type=chunk) | (Dollars in Thousands, except per share data) | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :------------------------------------------ | :----------- | :----------- | :----------- | :----------- | | Shareowners' Equity (GAAP) | $540,635 | $526,423 | $495,317 | $476,499 | | Less: Goodwill and Other Intangibles (GAAP) | 89,095 | 92,693 | 92,773 | 92,813 | | Tangible Shareowners' Equity (non-GAAP) | 451,540 | 433,730 | 402,544 | 383,686 | | Total Assets (GAAP) | 4,323,774 | 4,391,753 | 4,461,233 | 4,225,316 | | Less: Goodwill and Other Intangibles (GAAP) | 89,095 | 92,693 | 92,773 | 92,813 | | Tangible Assets (non-GAAP) | $4,234,679 | $4,299,060 | $4,232,159 | $4,132,503 | | Tangible Common Equity Ratio (non-GAAP) | 10.66% | 10.09% | 9.51% | 9.28% | | Actual Diluted Shares Outstanding (GAAP) | 17,115,336 | 17,097,986 | 17,018,122 | 16,980,686 | | Tangible Book Value per Diluted Share (non-GAAP) | $26.38 | $25.37 | $23.65 | $22.60 | [EARNINGS HIGHLIGHTS](index=8&type=section&id=EARNINGS%20HIGHLIGHTS) [Earnings Highlights Table](index=8&type=section&id=Earnings%20Highlights%20Table) This table summarizes key earnings, performance, capital adequacy, asset quality, and stock metrics for Q3 and YTD 2025, with comparative data | (Dollars in thousands, except per share data) | Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | Sep 30, 2025 (YTD) | Sep 30, 2024 (YTD) | | :------------------------------------------ | :----------- | :----------- | :----------- | :----------------- | :----------------- | | **EARNINGS** | | | | | | | Net Income Attributable to Common Shareowners | $15,950 | $15,044 | $13,118 | $47,852 | $39,825 | | Diluted Net Income Per Share | $0.93 | $0.88 | $0.77 | $2.80 | $2.35 | | **PERFORMANCE** | | | | | | | Return on Average Assets (annualized) | 1.47 % | 1.38 % | 1.24 % | 1.47 % | 1.26 % | | Return on Average Equity (annualized) | 11.67 | 11.44 | 10.87 | 12.12 | 11.39 | | Net Interest Margin | 4.34 | 4.30 | 4.12 | 4.28 | 4.05 | | Noninterest Income as % of Operating Revenue | 33.89 | 31.67 | 32.67 | 32.67 | 32.69 | | Efficiency Ratio | 65.09 % | 67.26 % | 71.81 % | 65.11 % | 70.49 % | | **CAPITAL ADEQUACY** | | | | | | | Tier 1 Capital | 19.33 % | 18.38 % | 16.77 % | 19.33 % | 16.77 % | | Total Capital | 20.59 | 19.60 | 17.97 | 20.59 | 17.97 | | Leverage | 11.64 | 11.14 | 10.89 | 11.64 | 10.89 | | Common Equity Tier 1 | 17.73 | 16.81 | 14.88 | 17.73 | 14.88 | | Tangible Common Equity (1) | 10.66 | 10.09 | 9.28 | 10.66 | 9.28 | | Equity to Assets | 12.50 % | 11.99 % | 11.28 % | 12.50 % | 11.28 % | | **ASSET QUALITY** | | | | | | | Allowance as % of Non-Performing Loans | 368.54 % | 463.01 % | 452.64 % | 368.54 % | 452.64 % | | Allowance as a % of Loans HFI | 1.17 | 1.13 | 1.11 | 1.17 | 1.11 | | Net Charge-Offs as % of Average Loans HFI | 0.18 | 0.09 | 0.19 | 0.12 | 0.20 | | Nonperforming Assets as % of Loans HFI and OREO | 0.39 | 0.25 | 0.27 | 0.39 | 0.27 | | Nonperforming Assets as % of Total Assets | 0.23 % | 0.15 % | 0.17 % | 0.23 % | 0.17 % | | **STOCK PERFORMANCE** | | | | | | | Close | $41.79 | $39.35 | $35.29 | $41.79 | $35.29 | | Average Daily Trading Volume | 42,187 | 27,397 | 37,151 | 31,559 | 32,720 | [CONSOLIDATED STATEMENT OF FINANCIAL CONDITION](index=9&type=section&id=CONSOLIDATED%20STATEMENT%20OF%20FINANCIAL%20CONDITION) [Balance Sheet Data](index=9&type=section&id=Balance%20Sheet%20Data) This table presents the consolidated statement of financial condition, detailing assets, liabilities, and equity, showing decreased assets and deposits, and increased shareowners' equity | (Dollars in thousands) | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :-------------------------------- | :----------- | :----------- | :----------- | :----------- | :----------- | | **ASSETS** | | | | | | | Total Cash and Cash Equivalents | $465,899 | $473,402 | $524,563 | $391,854 | $345,210 | | Total Investment Securities | 984,137 | 999,298 | 980,715 | 972,899 | 904,643 | | Loans Held for Investment, Net | 2,551,805 | 2,601,628 | 2,631,036 | 2,622,299 | 2,653,260 | | Total Assets | $4,323,774 | $4,391,753 | $4,461,233 | $4,324,932 | $4,225,316 | | **LIABILITIES** | | | | | | | Total Deposits | 3,614,912 | 3,704,853 | 3,783,890 | 3,671,977 | 3,579,077 | | Total Liabilities | 3,783,139 | 3,865,330 | 3,948,658 | 3,829,615 | 3,742,000 | | **SHAREOWNERS' EQUITY** | | | | | | | Total Shareowners' Equity | 540,635 | 526,423 | 512,575 | 495,317 | 476,499 | | Book Value Per Diluted Share | $31.59 | $30.79 | $30.02 | $29.11 | $28.06 | | Tangible Book Value Per Diluted Share | 26.38 | 25.37 | 24.59 | 23.65 | 22.60 | [CONSOLIDATED STATEMENT OF OPERATIONS](index=10&type=section&id=CONSOLIDATED%20STATEMENT%20OF%20OPERATIONS) [Income Statement Data](index=10&type=section&id=Income%20Statement%20Data) This table details the consolidated statement of operations, including interest income/expense, net interest income, noninterest income/expense, and net income for Q3 and YTD 2025 | (Dollars in thousands, except per share data) | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------------ | :------ | :------ | :------ | :------ | :------ | :------- | :------- | | **INTEREST INCOME** | | | | | | | | | Total Interest Income | $51,431 | $51,459 | $49,782 | $49,743 | $49,328 | $152,672 | $144,914 | | **INTEREST EXPENSE** | | | | | | | | | Total Interest Expense | 7,874 | 8,275 | 8,235 | 8,640 | 9,117 | 24,384 | 27,079 | | Net Interest Income | 43,557 | 43,184 | 41,547 | 41,103 | 40,211 | 128,288 | 117,835 | | Provision for Credit Losses | 1,881 | 620 | 768 | 701 | 1,206 | 3,269 | 3,330 | | Net Interest Income after Provision for Credit Losses | 41,676 | 42,564 | 40,779 | 40,402 | 39,005 | 125,019 | 114,505 | | **NONINTEREST INCOME** | | | | | | | | | Total Noninterest Income | 22,331 | 20,014 | 19,907 | 18,760 | 19,513 | 62,252 | 57,216 | | **NONINTEREST EXPENSE** | | | | | | | | | Total Noninterest Expense | 42,916 | 42,538 | 38,701 | 41,782 | 42,921 | 124,155 | 123,533 | | OPERATING PROFIT | 21,091 | 20,040 | 21,985 | 17,380 | 15,597 | 63,116 | 48,188 | | Income Tax Expense | 5,141 | 4,996 | 5,127 | 4,219 | 2,980 | 15,264 | 9,705 | | Net Income | 15,950 | 15,044 | 16,858 | 13,161 | 12,617 | 47,852 | 38,483 | | NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $15,950 | $15,044 | $16,858 | $13,090 | $13,118 | $47,852 | $39,825 | | **PER COMMON SHARE** | | | | | | | | | Diluted Net Income | 0.93 | 0.88 | 0.99 | 0.77 | 0.77 | 2.80 | 2.35 | | Cash Dividend | $0.26 | $0.24 | $0.24 | $0.23 | $0.23 | $0.74 | $0.65 | [ALLOWANCE FOR CREDIT LOSSES ("ACL") AND CREDIT QUALITY](index=11&type=section&id=ALLOWANCE%20FOR%20CREDIT%20LOSSES%20%28%22ACL%22%29%20AND%20CREDIT%20QUALITY) [ACL and Credit Quality Data](index=11&type=section&id=ACL%20and%20Credit%20Quality%20Data) This table details the Allowance for Credit Losses (ACL) for HFI loans, unfunded commitments, and debt securities, including charge-offs, recoveries, and key credit quality indicators | (Dollars in thousands, except per share data) | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------------ | :------ | :------ | :------ | :------ | :------ | :------- | :------- | | **ACL - HELD FOR INVESTMENT LOANS** | | | | | | | | | Balance at End of Period | $30,202 | $29,862 | $29,734 | $29,251 | $29,836 | $30,202 | $29,836 | | As a % of Loans HFI | 1.17% | 1.13% | 1.12% | 1.10% | 1.11% | 1.17% | 1.11% | | As a % of Nonperforming Loans | 368.54% | 463.01% | 692.10% | 464.14% | 452.64% | 368.54% | 452.64% | | **ACL - UNFUNDED COMMITMENTS** | | | | | | | | | Balance at End of Period | 2,095 | 1,738 | 1,832 | 2,155 | 2,522 | 2,095 | 2,522 | | **CHARGE-OFFS** | | | | | | | | | Total Charge-Offs | $1,968 | $1,498 | $1,611 | $2,504 | $2,283 | $5,077 | $6,878 | | Total Recoveries | $758 | $908 | $1,011 | $834 | $1,021 | $2,677 | $2,883 | | NET CHARGE-OFFS (RECOVERIES) | $1,210 | $590 | $600 | $1,670 | $1,262 | $2,400 | $3,995 | | Net Charge-Offs as a % of Average Loans HFI | 0.18% | 0.09% | 0.09% | 0.25% | 0.19% | 0.12% | 0.20% | | **CREDIT QUALITY** | | | | | | | | | Nonaccruing Loans | $8,195 | $6,449 | $4,296 | $6,302 | $6,592 | | | | Total Nonperforming Assets ("NPAs") | $10,026 | $6,581 | $4,428 | $6,669 | $7,242 | | | | NPAs as a % of Total Assets | 0.23% | 0.15% | 0.10% | 0.15% | 0.17% | | | [AVERAGE BALANCE AND INTEREST RATES](index=12&type=section&id=AVERAGE%20BALANCE%20AND%20INTEREST%20RATES) [Average Balance and Interest Rates Data](index=12&type=section&id=Average%20Balance%20and%20Interest%20Rates%20Data) This table details average balances, interest income/expense, and rates for earning assets and interest-bearing liabilities for Q3 2025 and comparative periods | (Dollars in thousands) | Q3 2025 Average Balance | Q3 2025 Average Interest | Q3 2025 Rate | Q2 2025 Average Balance | Q2 2025 Average Interest | Q2 2025 Rate | Q3 2024 Average Balance | Q3 2024 Average Interest | Q3 2024 Rate | | :------------------------------------------ | :---------------------- | :----------------------- | :----------- | :---------------------- | :----------------------- | :----------- | :---------------------- | :----------------------- | :----------- | | **ASSETS:** | | | | | | | | | | | Loans Held for Investment (1) | 2,606,213 | 39,894 | 6.07% | 2,652,572 | 40,436 | 6.11% | 2,693,533 | 40,985 | 6.09% | | Total Investment Securities | 993,880 | 7,193 | 2.88% | 1,007,981 | 6,683 | 2.65% | 908,456 | 4,158 | 1.82% | | Federal Funds Sold and Interest Bearing Deposits | 356,161 | 3,964 | 4.42% | 348,787 | 3,909 | 4.49% | 256,855 | 3,514 | 5.44% | | Total Earning Assets | $3,981,530 | $51,476 | 5.12% | $4,032,008 | $51,503 | 5.12% | $3,883,414 | $49,377 | 5.06% | | **LIABILITIES:** | | | | | | | | | | | Total Interest Bearing Deposits | 2,297,771 | 7,265 | 1.25% | 2,338,403 | 7,405 | 1.27% | 2,239,729 | 8,223 | 1.46% | | Total Interest Bearing Liabilities | $2,375,753 | $7,874 | 1.32% | $2,424,236 | $8,275 | 1.37% | $2,323,210 | $9,117 | 1.56% | | Interest Rate Spread | | $43,602 | 3.81% | | $43,228 | 3.75% | | $40,260 | 3.49% | | Net Interest Margin | | $43,602 | 4.34% | | $43,228 | 4.30% | | $40,260 | 4.12% |

Core Insights - Capital City Bank (CCBG) reported quarterly earnings of $0.93 per share, exceeding the Zacks Consensus Estimate of $0.87 per share, and showing an increase from $0.78 per share a year ago, resulting in an earnings surprise of +6.90% [1] - The bank's revenues for the quarter ended September 2025 were $65.89 million, surpassing the Zacks Consensus Estimate by 4.09%, and up from $59.72 million year-over-year [2] - The stock has gained approximately 11.8% since the beginning of the year, compared to the S&P 500's gain of 14.5% [3] Earnings Outlook - The earnings outlook for Capital City Bank is mixed, with the current consensus EPS estimate for the upcoming quarter at $0.82 on revenues of $62.7 million, and for the current fiscal year at $3.43 on revenues of $250.6 million [7] - The company has consistently surpassed consensus EPS estimates over the last four quarters [2] Industry Context - The Zacks Industry Rank for Banks - Southeast is currently in the top 27% of over 250 Zacks industries, indicating a favorable outlook for the sector [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Capital City Bank's stock performance [5][6]

Core Viewpoint - Capital City Bank Group, Inc. reported strong financial results for the third quarter of 2025, with net income of $16.0 million, reflecting growth in net interest income and noninterest income, alongside an increase in tangible book value per share [1][2]. Income Statement - Net income attributable to common shareowners for Q3 2025 was $16.0 million, or $0.93 per diluted share, compared to $15.0 million, or $0.88 per diluted share in Q2 2025, and $13.1 million, or $0.77 per diluted share in Q3 2024 [1][32]. - Noninterest income for Q3 2025 totaled $22.3 million, an increase of $2.3 million, or 11.6%, from Q2 2025, driven by higher other income, mortgage banking revenues, and deposit fees [7][8]. Balance Sheet - Average earning assets for Q3 2025 were $3.982 billion, a decrease of $50.5 million, or 1.3%, from Q2 2025, but an increase of $59.6 million, or 1.5%, from Q4 2024 [15]. - Total deposits at September 30, 2025, were $3.615 billion, a decrease of $89.9 million, or 2.4%, from June 30, 2025, primarily due to a decline in public fund deposits [21]. Net Interest Income/Net Interest Margin - Tax-equivalent net interest income for Q3 2025 was $43.6 million, up from $43.2 million in Q2 2025 and $40.3 million in Q3 2024 [3][11]. - The net interest margin for Q3 2025 was 4.34%, an increase of four basis points from Q2 2025 and 22 basis points from Q3 2024 [5][11]. Provision for Credit Losses - The provision for credit losses was $1.9 million for Q3 2025, compared to $0.6 million in Q2 2025 and $1.2 million in Q3 2024 [6][11]. Credit Quality - Nonperforming assets totaled $10.0 million at September 30, 2025, compared to $6.6 million at June 30, 2025, and $6.7 million at December 31, 2024 [19]. - The allowance for credit losses for loans held for investment was $30.2 million at September 30, 2025, representing 1.17% of loans held for investment [18][33]. Capital Adequacy - Shareowners' equity was $540.6 million at September 30, 2025, an increase from $526.4 million at June 30, 2025, and $495.3 million at December 31, 2024 [25][26]. - The total risk-based capital ratio was 20.59% at September 30, 2025, compared to 19.60% at June 30, 2025 [26][33].

Core Viewpoint - Capital City Bank Group, Inc. is set to release its third quarter 2025 financial results on October 21, 2025, before market opening, providing investors access to the earnings results via its Investor Relations website [1] Company Overview - Capital City Bank Group, Inc. is one of the largest publicly traded financial holding companies in Florida, with approximately $4.3 billion in assets [2] - The company offers a comprehensive range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services, bankcards, and securities brokerage services [2] - Founded in 1895, Capital City Bank operates 62 banking offices and 107 ATMs/ITMs across Florida, Georgia, and Alabama [2]