Capital City Bk - CCBG STOCK NEWS

Capital City Bank Group (NASDAQ: CCBG) has scheduled the release of its first quarter 2025 financial results for Monday, April 21, 2025, before market opening. The earnings report will be made available to investors through the company's Investor Relations website at investors.ccbg.com.

Capital City Bank has inaugurated its new banking office at 8403 West Bay Parkway, Panama City Beach, at the entrance of the Latitude Margaritaville Watersound community on March 11, 2025. This marks the bank's fifth service location across Bay and Walton counties.

The new West Bay Office features advanced virtual teller technology, offering live banker assistance via video chat from 7 a.m. to 9 p.m. on weekdays and 9 a.m. to 3 p.m. on Saturdays. The location is equipped with a Smart ATM for 24/7 self-service banking, capable of processing up to 30 items per transaction.

Since establishing its first loan production office in Panama City Beach in March 2018, Capital City Bank has steadily expanded its presence in the region. The bank now operates multiple locations including Santa Rosa Beach, Breakfast Point community, Watersound Town Center in Inlet Beach, and Lynn Haven, providing comprehensive consumer and business banking, lending, trust and wealth management solutions.

Capital City Bank Group (NASDAQ: CCBG) has announced a quarterly dividend increase to $0.24 per share, representing a 4.35% rise from the previous quarter's $0.23. The dividend will be paid on March 24, 2025 to shareholders of record as of March 10, 2025.

Based on the February 26, 2025 closing price of $36.44, this new dividend translates to an annualized yield of 2.63% and an annualized rate of $0.96 per common share.

Capital City Bank has announced strategic leadership changes with the creation of a new executive role of chief banking officer. Ramsay Sims, previously serving as chief lending officer, has been promoted to this position to provide comprehensive oversight of the bank's lending and deposit functions, focusing on growth, efficiency, and operational cohesion.

Concurrently, William Smith has been promoted to chief lending officer, filling the vacancy left by Sims. Smith previously served as North Florida Region executive, overseeing operations across multiple counties in Florida and Georgia. The reorganization aims to streamline strategic direction and enhance management efficiency.

Sims joined Capital City Bank in 2010 and brings extensive experience from previous roles at Merrill Lynch, Banc of America Securities, and GE Capital. Smith, who joined in 2007, has expertise in small business, commercial real estate, special assets, and private banking.

Capital City Bank Group (NASDAQ: CCBG) reported Q4 2024 net income of $13.1 million ($0.77 per diluted share), matching Q3 2024 and up from $11.7 million ($0.70 per diluted share) in Q4 2023. Full-year 2024 net income reached $52.9 million ($3.12 per diluted share), compared to $52.3 million ($3.07 per diluted share) in 2023.

Q4 2024 highlights include a net interest margin increase to 4.17%, deposit growth of $92.9 million (2.6%), and a 4.6% increase in tangible book value per share. The bank maintained strong credit quality with an allowance coverage ratio of 1.10%. Full-year performance showed stable net interest income at $159.2 million, increased noninterest income of 6.1%, and higher noninterest expense of 5.3%.

The bank's balance sheet reflected a $31.5 million (1.2%) quarterly decrease in loans and increased liquidity with average net overnight funds of $298.3 million.

Capital City Bank Group (NASDAQ: CCBG) has announced a quarterly cash dividend of $0.23 per share on its common stock. The dividend will be paid on December 23, 2024, to shareholders of record as of December 9, 2024. Based on the closing stock price of $38.35 on November 20, 2024, this represents an annualized dividend yield of 2.40%. The quarterly dividend translates to an annualized rate of $0.92 per common share.

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.