Capital City Bank Group, Inc. (CCBG) Bundle
An Overview of Capital City Bank Group, Inc. (CCBG)
General Summary of Capital City Bank Group, Inc. (CCBG)
Capital City Bank Group, Inc. (CCBG) was founded in 1895 and has grown to be a prominent financial institution serving communities across Florida and Georgia. The company primarily operates through its wholly-owned subsidiary, Capital City Bank, which offers a diverse range of banking services, including personal banking, business banking, wealth management, and mortgage services.
As of 2024, CCBG provides a variety of financial products, including:
- Checking and savings accounts
- Loans (including personal, home equity, and commercial loans)
- Investment services through Capital City Trust
- Insurance products via Capital City Insurance
- Wealth management services
In 2024, Capital City Bank Group reported total sales of approximately $118 million, reflecting a steady demand for its banking and financial services across its operating regions.
Company's Financial Performance in the Latest Financial Reports
In the third quarter of 2024, Capital City Bank Group achieved a net income attributable to common shareholders of $13.1 million, or $0.77 per diluted share. This represents a slight decrease from $14.2 million, or $0.83 per diluted share, in the previous quarter but an increase from $12.7 million, or $0.74 per diluted share, in the third quarter of 2023.
For the first nine months of 2024, net income totaled $39.8 million, or $2.35 per diluted share, compared to $40.5 million, or $2.38 per diluted share, for the same period in 2023.
Key financial highlights include:
| Financial Metric | Q3 2024 | Q2 2024 | Q3 2023 |
|---|---|---|---|
| Net Interest Income | $40.2 million | $39.3 million | $39.4 million |
| Noninterest Income | $19.5 million | $19.6 million | $16.7 million |
| Total Assets | $4.216 billion | $4.272 billion | $4.190 billion |
| Total Deposits | $3.579 billion | $3.641 billion | $3.702 billion |
| Return on Average Assets | 1.24% | 1.33% | 1.21% |
| Return on Average Equity | 10.87% | 12.23% | 11.07% |
CCBG's net interest margin for the third quarter of 2024 was 4.12%, showing an increase of 10 basis points over the previous quarter and 9 basis points over the same quarter last year. The company also recorded a provision expense for credit losses of $1.2 million, consistent with the prior quarter.
Introduction to CCBG as a Leader in the Industry
Capital City Bank Group stands out as a leader in the banking sector, particularly noted for its customer-centric approach and commitment to community engagement. The bank's strategic initiatives and strong financial performance have positioned it well within the industry, making it a preferred choice for personal and business banking solutions in its operating regions.
With total assets reaching approximately $4.216 billion and a focus on sustainable growth, CCBG continues to adapt to market demands while enhancing its product offerings. Investors and stakeholders are encouraged to explore further details about the company's robust business model and strategic vision for continued success in 2024 and beyond.
Mission Statement of Capital City Bank Group, Inc. (CCBG)
Company's Mission Statement Overview
The mission statement of Capital City Bank Group, Inc. (CCBG) serves as a guiding principle for the company’s operations and strategic direction. It articulates the organization's purpose, reflecting its commitment to providing exceptional financial services while fostering community relationships. As of 2024, CCBG emphasizes its dedication to integrity, customer satisfaction, and financial stability, which are crucial for achieving long-term goals.
Core Component 1: Customer Commitment
CCBG's mission underscores a strong commitment to its customers, aiming to deliver high-quality financial products and services tailored to meet diverse needs. In 2023, the bank reported a net interest income of $120.1 million, highlighting its focus on customer-centric solutions. For the first nine months of 2024, net interest income was $118.0 million, demonstrating consistent performance even amidst fluctuations in market conditions.
Core Component 2: Community Engagement
Another integral aspect of CCBG's mission is its engagement with the communities it serves. The bank actively participates in local initiatives, supporting economic growth and development. As of September 30, 2024, total deposits were $3.579 billion, a reflection of the trust and relationships built within the community. CCBG's community-focused approach includes providing access to financial education and resources, which enhances its reputation and fosters customer loyalty.
Core Component 3: Financial Integrity
Financial integrity is a cornerstone of CCBG's mission statement, emphasizing responsible banking practices and transparency. The company maintains a total risk-based capital ratio of 17.97% as of September 30, 2024, well above the regulatory minimum required to be classified as "well-capitalized". This strong capital position underscores CCBG's commitment to maintaining fiscal responsibility, ensuring that it can weather economic challenges while continuing to support its clients and communities.
| Financial Metric | Q3 2024 | Q2 2024 | Q3 2023 |
|---|---|---|---|
| Net Interest Income | $40.2 million | $39.3 million | $39.4 million |
| Noninterest Income | $19.5 million | $19.6 million | $16.7 million |
| Total Deposits | $3.579 billion | $3.608 billion | $3.701 billion |
| Total Risk-Based Capital Ratio | 17.97% | 17.50% | 16.84% |
Capital City Bank Group's mission statement reflects its unwavering commitment to customer satisfaction, community involvement, and financial integrity. These core components drive the company’s strategic initiatives and ensure that it remains a trusted financial partner in the markets it serves.
Vision Statement of Capital City Bank Group, Inc. (CCBG)
Vision Statement Overview
The vision statement of Capital City Bank Group, Inc. (CCBG) reflects its commitment to being a leading financial institution in the communities it serves. It emphasizes innovation, customer satisfaction, and sustainable growth.
Commitment to Community
CCBG aims to enhance the quality of life in its service areas through community engagement and support. In 2024, the bank has allocated approximately $500,000 towards community development projects and local non-profits, showing a strong dedication to improving local economies.
Customer-Centric Approach
In 2024, CCBG continues to prioritize customer satisfaction. The bank's Net Promoter Score (NPS) stands at 75, indicating a high level of customer loyalty and satisfaction. The total number of active customer accounts has reached 200,000, reflecting robust customer growth.
Innovation and Technology
CCBG is committed to leveraging technology to enhance customer experience. In 2024, the bank invested $2 million in digital banking platforms, resulting in a 30% increase in mobile banking users compared to the previous year. The bank’s digital transactions now account for 65% of all transactions, up from 50% in 2023.
Sustainable Growth
Capital City Bank Group is focused on sustainable financial growth. As of September 30, 2024, total assets are reported at $4.22 billion, with a year-over-year growth of 5%. The bank maintains a total risk-based capital ratio of 17.97%, exceeding the regulatory minimum and indicating a strong capital position.
Financial Performance Metrics
| Metric | Value |
|---|---|
| Total Assets | $4.22 billion |
| Net Promoter Score (NPS) | 75 |
| Investment in Digital Banking | $2 million |
| Active Customer Accounts | 200,000 |
| Total Risk-Based Capital Ratio | 17.97% |
| Year-over-Year Asset Growth | 5% |
| Percentage of Digital Transactions | 65% |
Strategic Goals for 2024
CCBG's strategic goals include expanding its market presence and enhancing product offerings. The bank plans to open two new branches in underserved areas and introduce three new financial products aimed at small businesses by mid-2024.
Conclusion of Vision Statement Components
Through its vision statement, Capital City Bank Group, Inc. underlines its commitment to community involvement, customer satisfaction, technological innovation, and sustainable growth, positioning itself as a forward-thinking leader in the financial services industry.
Core Values of Capital City Bank Group, Inc. (CCBG)
Integrity
Integrity is a core value at Capital City Bank Group, Inc. (CCBG), emphasizing transparency, honesty, and ethical behavior in all business dealings. This commitment to integrity is crucial for maintaining trust with customers, employees, and stakeholders.
In 2024, CCBG demonstrated its integrity through various initiatives, including compliance with regulatory standards and ethical lending practices. The bank has maintained a total risk-based capital ratio of 17.97% as of September 30, 2024, exceeding the minimum requirements set forth under the Basel III capital standards. This reflects the bank's commitment to financial prudence and ethical governance.
Customer Focus
Customer focus is a fundamental value that drives CCBG's operations. The bank prioritizes understanding and responding to customer needs, ensuring that their services align with client expectations.
In the first nine months of 2024, CCBG reported noninterest income of $57.2 million, which includes fees from wealth management and banking services tailored to enhance customer experience. Additionally, the bank's wealth management fees totaled $13.9 million, marking a 15.2% increase compared to the same period in 2023. This growth indicates that CCBG is effectively meeting the diverse financial needs of its clientele.
Community Involvement
Community involvement reflects CCBG's commitment to social responsibility and supporting local initiatives. The bank actively participates in community development programs and charitable contributions.
In 2024, CCBG allocated a significant portion of its resources to community-oriented projects, including educational scholarships and local business support initiatives. The bank's total assets under management reached approximately $2.950 billion by September 30, 2024, allowing for increased investment in community projects. This commitment underscores the bank's role as a community partner, fostering economic growth and development.
Teamwork
Teamwork is essential at CCBG, promoting collaboration and mutual respect among employees to achieve common goals.
As of September 30, 2024, CCBG reported a noninterest expense of $42.9 million, reflecting investments in employee development and team-building initiatives. The bank's focus on enhancing employee engagement has resulted in improved performance metrics, including a return on average assets of 1.24%, indicating that teamwork contributes positively to the bank's financial health.
Excellence
Excellence is a core value that drives CCBG to pursue the highest standards in service delivery and operational efficiency.
The bank's net interest income for the third quarter of 2024 was reported at $40.2 million, showcasing effective asset management and operational excellence. Furthermore, CCBG’s net income attributable to common shareowners was $13.1 million for the same period, reflecting the bank's strong financial performance and commitment to excellence in all aspects of its operations.
| Core Value | Key Metrics |
|---|---|
| Integrity | Risk-based capital ratio: 17.97% |
| Customer Focus | Noninterest income: $57.2 million; Wealth management fees: $13.9 million |
| Community Involvement | Total assets under management: $2.950 billion |
| Teamwork | Noninterest expense: $42.9 million; Return on average assets: 1.24% |
| Excellence | Net interest income: $40.2 million; Net income: $13.1 million |
CCBG's overall commitment to its core values positions it as a leader in the banking industry, fostering trust, satisfaction, and community support.
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Resources:
- Capital City Bank Group, Inc. (CCBG) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Capital City Bank Group, Inc. (CCBG)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Capital City Bank Group, Inc. (CCBG)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.