CCBGMEDIUM SIGNALFINANCIAL10-K

CCBG shows improved financial performance with higher profitability and strengthened capital position, while geographic revenue mix shifted toward Florida operations.

The company demonstrates solid operational execution with reduced credit provisions suggesting improving asset quality and debt reduction strengthening the balance sheet. However, the increased concentration in Florida markets (rising from 85% to 81% excluding CCHL operations) may present geographic concentration risk that investors should monitor.

Comparing 2026-02-27 vs 2025-03-11View on EDGAR →
FINANCIAL ANALYSIS

CCBG delivered a solid financial performance with net income growing 16.3% to $61.6M and operating cash flow expanding meaningfully by 37.8% to $87.6M. Credit quality appears to be improving as provision for credit losses declined 30.6% to $2.0M, while the balance sheet strengthened with stockholders' equity rising 11.6% to $552.9M and total debt falling 38.8%. The overall picture signals a financially healthier institution with improved profitability, stronger capital ratios, and better asset quality.

FINANCIAL STATEMENT CHANGES
Total Debt
Balance Sheet
-38.8%
$513K→$314K

Debt reduced 38.8% — deleveraging strengthens balance sheet and reduces financial risk.

Operating Cash Flow
Cash Flow
+37.8%
$63.6M→$87.6M

Operating cash flow surged 37.8% — exceptional cash generation, highest quality earnings signal.

Provision for Credit Losses
P&L
-30.6%
$2.9M→$2.0M

Provisions reduced 30.6% — improving credit quality or reserve release boosting reported earnings.

Net Income
P&L
+16.3%
$52.9M→$61.6M

Net income grew 16.3% — bottom-line growth signals improving overall business health.

Stockholders Equity
Balance Sheet
+11.6%
$495.3M→$552.9M

Equity base grew 11.6% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-02-27
PRIOR — 2025-03-11
ADDED
Management's Discussion and Analysis of Financial Condition and Results of Operations 45 Item 7A.
Forward-looking statements are based on current assumptions and expectations that are subject to change and may prove to be inaccurate.
financial system; 4 A deterioration of the credit rating for U.S.
CCBG is one of the largest publicly traded financial holding companies headquartered in Florida and has approximately $4.
The majority of the revenue, approximately 81%, is derived from our Florida market areas while approximately 17% and 2% of the revenue is derived from our Georgia and other market areas, respectively.
Our financial condition and results of operations are more fully discussed in our Management s Discussion and Analysis on page 45 and our consolidated financial statements on page 70.
Dollars in millions Year Ended December 31, Assets Deposits Shareowners Equity Revenue (1) Net Income 2025 $4,385.8 $3,662.3 $552.9 $286.7 $61.6 2024 $4,324.9 $3,672.0 $495.3 $270.6 $52.9 2023 $4,304.5 $3,701.8 $440.6 $252.7 $52.3 (1) Revenue represents interest income plus noninterest income Dividends and management fees received from the Bank are CCBG s primary source of income.
CCBG previously maintained an insurance subsidiary, Capital City Strategic Wealth, LLC, which was sold in August 2025.
(or Capital City Investments ) which are wholly owned, and CCHL which became wholly owned effective January 1, 2025.
Banking Services are operated at CCB, and Wealth Management Services are operated under two divisions (Capital City Trust Company and Capital City Investments).
REMOVED
Management's Discussion and Analysis of Financial Condition and Results of Operations 43 Item 7A.
CCBG is one of the largest publicly traded financial holding companies headquartered in Florida and has approximately $4.3 billion in assets.
The majority of the revenue (excluding CCHL), approximately 85%, is derived from our Florida market areas while approximately 14% and 1% of the revenue is derived from our Georgia and other market areas, respectively.
Approximately 55% of the revenue from CCHL is derived from our Georgia market areas while approximately 33% and 12% is derived from our Florida and other market areas, respectively.
Our financial condition and results of operations are more fully discussed in our Management s Discussion and Analysis on page 43 and our consolidated financial statements on page 72.
Dollars in millions Year Ended December 31, Assets Deposits Shareowners Equity Revenue (1) Net Income 2024 $4,324.9 $3,672.0 $495.3 $270.6 $52.9 2023 $4,304.5 $3,701.8 $440.6 $252.7 $52.3 2022 $4,519.2 $3,939.3 $387.3 $207.1 $33.4 (1) Revenue represents interest income plus noninterest income Dividends and management fees received from the Bank are CCBG s primary source of income.
CCBG also maintains an insurance subsidiary, Capital City Strategic Wealth, LLC.
which are wholly owned, and CCHL which became wholly owned effective January 1, 2025.
Banking Services are operated at CCB, and Wealth Management Services are operated under three divisions (Capital City Trust Company, Capital City Investments, and Capital City Strategic Wealth, LLC).
Revenues from these principal services for the year ended 2024 totaled approximately 92.6% and 7.4% of our total revenue, respectively.
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