Capital City Bank Group Inc 2024年度报告

ANNUAL SHAREOWNERS’ MEETING APRIL 22, 2025|10 A.M. E.T. About Capital City Bank Group, Inc. Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial holding companiesheadquartered in Florida and has approximately $4.3 billion in assets. We provide a full range of banking services,including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services,bankcards, securities brokerage services and life insurance. Our bank subsidiary, Capital City Bank, was foundedin 1895 and now has 63 banking offices and 104 ATMs/ITMs in Florida, Georgia and Alabama.www.ccbg.com. DEARSHAREOWNERS Capital City achieved outstanding success onmultiple fronts in 2024, delivering another yearof record earnings, strong capital growth andreturns for our shareowners. We madesignificant progress across our business linesand introduced culture initiatives to uphold theprinciples that have guided us for 130 years. >Net interest income remained stable, withthe net interest margin expanding threebasis points to 4.08% in a challengingdeposit pricing environment – total depositcosts remained below 1% at 89 basis points. >Average loans held for investment grew$50.1 million, or 1.9%, and average depositsdeclined by $72.2 million, or 2.0%. I am pleased to share my thoughts on thefundamental strengths that have driven oursuccess throughout the year and will continue toshape our vision. >Credit quality metrics remained strong– allowance coverage of 1.10% – net loancharge-offs at 21 basis points of averageloans. STRONG FUNDAMENTALSDRIVING GROWTH >Tangible book value per diluted shareincreased $3.20, or 16%, and we returned$15 million to shareowners throughdividends, which increased by 16% pershare. Our strong deposit franchise, which wasrecognized as the fourth-best among largecommunity banks by S&P Global MarketIntelligence, was a key driver of ourperformance. Strong credit quality andcontinued growth in our wealth managementbusiness further strengthened our results.Below is a summary of key 2024 highlights. A COMMITMENT TO CLIENT FOCUS &TRUSTED ADVICE Strong client relationships and a deepunderstanding of their needs are the foundationof our business. Despite persistent inflation andeconomic uncertainty, we remained committedto delivering exceptional service, expertise andtrust – qualities that define a strong bankingpartner. >Net income totaled $52.9 million, up $0.7million, or 1.3%, continuing our seventhconsecutive year of net income growth. While loan demand and growth slowed, weremained diligent in our approach to creditunderwriting, portfolio risk management anddiversification, as evidenced by our strong creditmetrics. Deposit balances stabilized this year,demonstrating our bankers’ success in deepeningclient relationships and serving as trusted advisors. enhance efficiencies, strengthen collaboration andstreamline operations. Market expansion has focused on two high-growth regions: the Northern Arc of Atlanta,Georgia, and Florida’s Emerald Coast. Throughstrategic investments in these markets, we continueto expand our presence, financial solutions and ourteam of talented bankers. 130 YEARS AND BEYOND Strong client relationshipsand a deep understandingof their needs are the foundationof our business. As we approach a proud milestone – 130 years inbusiness on April 1, 2025 – one truth remainsconstant: relationships have always been at theheart of who we are. This people-first philosophycontinues to influence every decision, guide everyinnovation and define our way of doing business. In 2024, we formally introduced a set of corevalues articulating the beliefs that have shaped usfor over a century. Rooted in our brand promise,More than your bank. Your banker., and driven byour purpose – empowering clients’ financialwellness and helping build secure futures – theyreinforce our commitment to integrity, relationshipbuilding, valuing people and investing in thecommunities we serve. The transfer of generational wealth continues tobe a transformative trend. While many banks are justbeginning to develop wealth strategies, we havebeen a leader in trust and investment advisoryservices for more than 64 years. Under the CapitalCity Wealth brand, we provide a suite of trust andinvestment advisory services, insurance and assetprotection solutions, and an expanding privatebanking offering. This division delivered a strongperformance, growing assets under managementby 18% to $3.049 billion, generating diversified feeincome and positioning us for growth in keymarkets. As we step into the next chapter of our journey,Capital City remains committed to building on thislegacy, advancing with purpose, and creatinglong-term value for our clients, shareowners andassociates. Above all, our people-first approach tobanking will continue to be our defining strength. A FUTURE BUILT ON STRENGTH ANDOPPORTUNITY As always, I welcome your comments and questions.Your banker, P