Open the filing on EDGARCapital City Bank Group, Inc. Reports Third Quarter 2026 Results
TALLAHASSEE, Fla. (October 20, 2026) - Capital City Bank Group, Inc. (NASDAQ: CCBG) today reported net income attributable to common shareowners of $16.9 million, or $0.99 per diluted share, for the third quarter of 2026 compared to $16.3 million, or $0.95 per diluted share, for the second quarter of 2026, and $16.0 million, or $0.93 per diluted share, for the third quarter of 2025.
Return on Assets was 1.53% and Return on Equity was 11.67% for the third quarter of 2026 compared to 1.48% and 11.38%, respectively, for the second quarter of 2026, and 1.47% and 11.67%, respectively , for the third quarter of 2025.
QUARTER HIGHLIGHTS (3 rd Quarter 2026 versus 2 nd Quarter 2026)
Income Statement
- Tax-equivalent net interest income totaled $45.1 million compared to $44.2 million for the prior quarter and reflected one additional calendar day in the third quarter
- Net interest margin increased 7 basis points to 4.42% (earning asset yield increased 4 basis points to 5.15% and cost of funds decreased 2 basis points to 73 basis points)
- Credit loss provision decreased $1.0 million - net loan charge-offs of 8 basis points (annualized) of average loans - allowance coverage ratio decreased two basis points to 1.22% at September 30, 2026
- Noninterest income decreased $1.2 million, or 5.9%, driven by lower mortgage banking revenues and deposit fees
- Noninterest expense decreased $0.3 million, or 0.8%, primarily due to lower compensation expense of $0.2 million
Balance Sheet
- Loan balances decreased $10.3 million, or 0.4% (average), and decreased $10.1 million, or 0.4% (end of period)
- Improved credit quality - total nonperforming assets of $9.7 million (22 basis points of total assets) at September 30, 2026, a $3.7 million decrease from the prior quarter
- Deposit balances decreased $31.2 million, or 0.9% (average), and decreased $54.4 million, or 1.5% (end of period) due to the normal seasonal decrease in our public fund balances
- Investment security loss AFS and HTM of 3.2% (after-tax) of book value - total security portfolio duration of 2.6 years
- Tangible book value per diluted share (non-GAAP financial measure) increased $0.19, or 0.7%, and reflected the negative impact of higher bond interest rates on our quarter-end AFS fair value AOCI adjustment
“The third quarter delivered strong earnings and solid momentum across our Company,” said William G. Smith, Jr., Chairman and Chief Executive Officer. “Continued net interest margin expansion and improved credit quality contributed meaningfully to our third quarter results. We remain well positioned to build on this momentum and finish the year strong.”
Discussion of Operating Results
Net Interest Income/Net Interest Margin
Tax -equivalent net interest income for the third quarter of 2026 totaled $45.1 million, compared to $44.2 million for the second quarter of 2026, and $43.6 million for the third quarter of 2025. Compared to the second quarter of 2026, the increase was primarily attributable to higher income from investment securities and loan interest income, in addition to lower deposit interest expense, partially offset by lower overnight funds income due to lower average balances. The increase in investment securities income reflected new investment purchases at higher rates and higher balances as we deploy additional liquidity into the investment security portfolio. The decrease in deposit interest expense was primarily driven by lower average balances on seasonal public funds accounts and lower rates on time deposits. One additional calendar day also contributed to the increase over the second quarter of 2026. The increase over the third quarter of 2025 was also driven by the same aforementioned factors.
For the first nine months of 2026, tax -equivalent net interest income totaled $132.2 million compared to $128.4 million for the same period of 2025 . The increase was primarily attributable to higher investment securities income and lower deposit interest expense, partially offset by lower loan interest income and overnight funds income. New investment purchases at higher yields and higher balances drove the increase in investment securities income. The decrease in deposit interest expense was primarily attributable to lower rates across several product lines. Lower average loan balances contributed to the decrease in loan interest income, while the decrease in overnight funds income reflected the deployment of more liquidity into the investment portfolio as well as a lower average overnight funds rate.
Our net interest margin for the third quarter of 2026 was 4.42%, an increase of seven basis points over the second quarter of 2026 and an increase of eight basis points over the third quarter of 2025. For the first nine months of 2026, our net interest margin increased by six basis points to 4.34% compared to the same period of 2025. The increase in net interest margin over all prior periods was largely attributable to higher investment security yield driven by new purchases at higher rates and lower deposit costs. For the third quarter of 2026, our cost of funds was 73 basis points, a decrease of two basis points from the second quarter of 2026 and five basis points from the third quarter of 2025. Our cost of deposits (including noninterest bearing accounts) was 74 basis points, 76 basis points, and 80 basis points, respectively, for the same periods.
Provision for Credit Losses
We recorded a provision benefit for credit losses of $0. 1 million for the third quarter of 2026, compared to a provision expense of $0.9 million for the second quarter of 2026 and $1.9 million for the third quarter of 2025. For the first nine months of 2026, we recorded a provision expense for credit losses of $1.6 million compared to $3.3 million for the same period of 2025. Activity within the components of the provision (loans held for investment (“HFI”) and unfunded loan commitments) for each reported period is provided in the table on page 10. We discuss the various factors that impacted our provision expense for Loans HFI in further detail below under the heading Allowance for Credit Losses .
Noninterest Income and Noninterest Expense
Noninterest income for the third quarter of 2026 totaled $19.4 million, a $1.2 million, or 5.9%, decrease from the second quarter of 2026 and a $2.9 million, or 13.2%, decrease from the third quarter of 2025. The decrease from the second quarter of 2026 was attributable to decreases in mortgage banking revenues of $1.0 million, deposit fees of $0.5 million and other income of $0.2 million partially offset by a $0.5 million increase in wealth management fees. The decrease in mortgage banking revenues was primarily due to lower production volume and the decrease in deposit fees reflected lower overdraft fees attributable to processing changes that better align with industry practices . The increase in wealth management fees was primarily due to higher retail brokerage fees.
The decrease from the third quarter of 2025 was driven by decreases in mortgage banking revenues of $1.1 million, deposit fees of $0.7 million, other income of $0.7 million and wealth management fees of $0.5 million, partially offset by an increase in bank card fees of $0.1 million. The decrease in mortgage banking revenues was due to lower production volume and gain on sale margin. The decrease in deposit fees reflected lower overdraft fees. The decrease in other income reflected a $0.7 million gain from the sale of our insurance subsidiary in the third quarter of 2025 - the advisors at this subsidiary also serviced retail brokerage clients which drove the decline in wealth management fees.
For the first nine months of 2026, noninterest income totaled $59.9 million, a $2.3 million, or 3.8%, decrease from the same period of 2025, attributable to decreases in wealth management fees of $3.3 million partially offset by increases in other income of $0.7 million and bank card fees of $0.3 million. The decrease in wealth management fees was attributable to decreases in retail brokerage fees (due to lower assets under management ) and lower insurance commissions (attributable to the aforementioned sale of our insurance subsidiary) . The increase in other income was primarily attributable to increases in other fees/commissions of $0.3 million and bank owned life insurance income of $0.2 million. The increase in bank card fees reflected higher card volume.
Noninterest expense for the third quarter of 2026 totaled $42. 3 million, a $0.3 million, or 0.8%, decrease from the second quarter of 2026 and a $0.6 million, or 1.4%, decrease from the third quarter of 2025. The decrease from the second quarter of 2026 was primarily attributable to decreases in compensation expense of $0.2 million (commission expense) and other expense of $0.1 million. A $0.5 million decrease in other real estate expense that was partially offset by a $0.3 million increase in telephone expense drove the variance in other expense. The decrease from the third quarter of 2025 was also driven by the same aforementioned factors .
For the first nine months of 2026, noninterest expense totaled $126.3 million, a $2.2 million, or 1.7%, increase over the same period of 2025 and reflected increases in other expense of $3.0 million and occupancy expense of $0.8 million partially offset by a $1.6 million decrease in compensation expense. The increase in other expense was primarily due to a $3.9 million increase in ORE expense, reflecting lower gains on property sales compared to the prior year period, which included a significant gain from the sale of our operations center building in the first quarter of 2025. Lower charitable contribution expense of $0.6 million and professional fee expense of $0.6 million partially offset the increase. The increase in occupancy expense reflected higher expense for FF&E maintenance agreements and software licenses. The decrease in compensation expense reflected lower salary expense of $1.1 million and associate benefit expense of $0.5 million. Lower commission expense drove the decline in salary expense and the decrease in associate benefit expense was primarily attributable to lower stock based compensation.
Income Taxes
We realized income tax expense of $5.2 million (effective rate of 23.6%) for the third quarter of 2026, compared to $5.0 million (effective rate of 23.4%) for the second quarter of 2026 and $5. 1 million (effective rate of 24.4%) for the third quarter of 2025. For the first nine months of 2026, we realized income tax expense of $15.0 million (effective rate of 23.5%) compared to $15.3 million (effective rate of 24.2%) for the same period of 2025. Tax benefits accrued from a solar tax credit investment in 2026 drove the decrease in our effective tax rate compared to the prior year periods. Absent discrete items or new tax credit investments, we expect our annual effective tax rate to approximate 23-24% for 2026.
Discussion of Financial Condition
Earning Assets
Average earning assets totaled $4.038 billion for the third quarter of 2026, a decrease of $30.6 million, or 0.8%, from the second quarter of 2026, and an increase of $2.4 million, or 0.1% over the fourth quarter of 2025. Compared to the second quarter of 2026, the change in earning asset mix reflected a $27.2 million decrease in overnight funds, a $10.3 million decrease in loans held for investment, and a $3.5 million decrease in loans held for sale (“HFS”), partially offset by a $10.5 million increase in investment securities. Compared to the fourth quarter of 2025, the change reflected a $171.8 million increase in investment securities and a $2.7 million increase in loans HFS, partially offset by a $99.7 million decrease in overnight funds and a $72.5 million decrease in loans held for investment.
Average loans HFI decreased by $10.3 million, or 0.4% from the second quarter of 2026, and decreased by $72.5 million, or 2.8% from the fourth quarter of 2025. Compared to the second quarter of 2026, the decline was primarily attributable to decreases in commercial real estate loans of $8.4 million, residential real estate loans of $4.5 million, and construction loans of $3.7 million, partially offset by increases in consumer loans (primarily indirect auto) of $2.2 million, home equity loans of $2.0 million, and commercial loans of $1.5 million. Compared to the fourth quarter of 2025, the decline was primarily attributable to decreases in residential real estate loans of $35.2 million, commercial real estate loans of $33.0 million, construction loans of $7.8 million, commercial loans of $5.1 million, and consumer loans of $0.7 million, partially offset by increases in home equity loans of $7.9 million.
Loans HFI at September 30, 2026, decreased $10.1 million, or 0.4% from June 30, 2026, and decreased $56.4 million, or 2.2% from December 31, 2025. Compared to June 30, 2026, the decline was primarily attributable to decreases in commercial real estate loans of $14.3 million, commercial loans of $4.4 million, and other loans of $2.3 million, partially offset by increases in residential real estate loans of $5.9 million, consumer loans (primarily indirect auto) of $3.2 million, home equity loans of $1.7 million, and construction loans of $0.2 million. Compared to December 31, 2025, the decline was primarily attributable to decreases in commercial real estate loans of $32.4 million, residential real estate loans of $16.9 million, commercial loans of $12.2 million, and other loans of $4.4 million, partially offset by increases in home equity loans of $5.2 million, construction loans of $2.4 million, and consumer loans (primarily indirect auto) of $1.7 million.
Allowance for Credit Losses
At September 30, 2026, the allowance for credit losses for loans HFI totaled $30.4 million compared to $31.0 million at June 30, 2026 and $31.0 million at December 31, 2025. Activity within the allowance is provided on page 10. The decline in the allowance reflected improved credit quality metrics and a lower level of net loan charge-offs of 8 basis points of average loans for the third quarter of 2026 versus 14 basis points for the second quarter of 2026 and 18 basis points for the third quarter of 2025. Net loan charge-offs for the nine months ended September 30, 2026 were 11 basis points compared to 12 basis points for the same period of 2025. At September 30, 2026, the allowance represented 1.22% of loans HFI compared to 1.24% at June 30, 2026, and 1.22% at December 31, 2025.
Credit Quality
Nonperforming assets (nonaccrual loans and other real estate) totaled $9.7 million at September 30, 2026, compared to $13.4 million at June 30, 2026 and $10.5 million at December 31, 2025. At September 30, 2026, nonperforming assets as a percentage of total assets was 0.22%, compared to 0.30% at June 30, 2026 and 0.24% at December 31, 2025. Nonaccrual loans totaled $7.4 million at September 30, 2026, a $2.7 million decrease from June 30, 2026 and a $1.2 million decrease from December 31, 2025. Other real estate totaled $2.4 million at September 30, 2026, a $1.1 million decrease from June 30, 2026 and a $0.4 million increase over December 31, 2025. Further, classified loans totaled $2 0.8 million at September 30, 2026, a $9.0 million decrease from June 30, 2026 and a $6.5 million increase over December 31, 2025.
Deposits
Average total deposits were $3.648 billion for the third quarter of 2026, a decrease of $31.2 million, or 0.9%, from the second quarter of 2026, and comparable to the fourth quarter of 2025. Compared to the second quarter of 2026, the decrease was primarily due to lower public funds balances of $63.8 million (primarily NOW accounts) due to the seasonal reduction in those balances, partially offset by higher core account balances of $32.6 million (primarily money market and noninterest bearing checking).
At September 30, 2026, total deposits were $3.667 billion, a decrease of $54.4 million, or 1. 5% from June 30, 2026, and an increase of $4.3 million, or 0.1% over December 31, 2025. The decrease from June 30, 2026, was driven by lower public funds balances o f $58.3 million (primarily NOW accounts), partially offset by an increase in core deposit balances of $3.9 million (primarily money market accounts). The increase over December 31, 2025 reflected core deposit growth of $155.8 million, partially offset by lower public funds balances of $151.5 million. Total public funds balances were $503.2 million at September 30, 2026, $561.5 million at June 30, 2026, and $654.7 million at December 31, 2025, respectively.
Liquidity
The Bank maintained an average net overnight funds (i.e., deposits with banks plus FED funds sold, less FED funds purchased) sold position of $337.9 million in the third quarter of 2026 compared to $365.1 million in the second quarter of 2026 and $437.5 million in the fourth quarter of 2025. Compared to the second quarter of 2026, the variance reflected lower average deposits and the deployment of excess liquidity into the investment security portfolio. Compared to the fourth quarter of 2025, the variance was driven by the deployment of excess liquidity into the investment security portfolio.
We also view our investment portfolio as a liquidity source as we have the option to pledge securities in our portfolio as collateral for borrowings or deposits and/or to sell selected securities in our portfolio. Our portfolio consists of debt issued by the U.S. Treasury, U.S. governmental agencies, municipal governments, and corporate entities. At September 30, 2026, the weightedaverage maturity and duration of our portfolio were 2.98 years and 2.63 year s, respectively, and the available -for-sale portfolio had a net unrealized after-tax loss of $23.1 million, or 2.7% of book value.
At September 30, 2026, we had the ability to generate approximately $1.745 billion (excludes overnight funds position of $340 million) in additional liquidity through various sources including various federal funds purchased lines, Federal Home Loan Bank borrowings, the Federal Reserve Discount Window, and brokered deposits.
Capital
Shareowners’ equity was $573.9 million at September 30, 2026 , compared to $570.1 million at June 30, 2026, and $552.9 million at December 31, 2025. For the first nine months of 2026, shareowners’ equity was positively impacted by net income of $49.0 million, the issuance of stock of $3.5 million, and stock compensation accretion of $1.5 million. Shareowners’ equity was reduced by common stock dividends of $13.9 million ($0.81 per share), repurchases of our common stock of $2.6 million (63,088 shares), net adjustments totaling $2.5 million related to transactions under our stock-based compensation plans, and an unfavorable net change of $14.0 million in accumulated other comprehensive loss due to an unfavorable fair value mark on investment securities driven by higher bond rates.
At September 30, 2026, our total risk-based capital ratio was 22.99%, compared to 22.35% at June 30, 2026, and 21.45% at December 31, 2025. Our common equity tier 1 capital ratio was 20.43%, 19.80%, and 18.56%, respectively, on these dates. Our leverage ratio was 12.31%, 11.96%, and 11.77%, respectively, on these dates. At September 30, 2026, all our regulatory capita l ratios exceeded the thresholds to be designated as “well-capitalized” under the Basel III capital standards. Further, our tangible common equity ratio (non-GAAP financial measure) was 11.25% at September 30, 2026, compared to 11.03% at June 30, 2026, and 10.79% at December 31, 2025. If our unrealized held-to-maturity securities loss of $16.0 million (after -tax) was recognized in accumulated other comprehensive loss, our adjusted tangible capital ratio would be 10.88%.
About Capital City Bank Group, Inc.
Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial holding companies headquartered in Florida and has approximately $4.4 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, and securities brokerage services. Our bank subsidiary, Capital City Bank, was founded in 1895 and has 62 banking offices and 107 ATMs/ITMs in Florida, Georgia and Alabama. For more information about Capital City Bank Group, Inc., visit https://www.ccbg.com/ .
FORWARD-LOOKING STATEMENTS
Forward-looking statements notice
Forward-looking statements in this press release are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future results to differ materially. The words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “target,” “vision,” “goal,” “will,” “project,” “continue,” “outlook,” “approximate,” “seasonal,” “future” and similar expressions are intended to identify forward -looking statements. The following factors, among others, could cause our actual results to differ: the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board; inflation, interest rate, market and monetary fluctuations; local, regional, national, and international economic conditions and the impact they may have on us and our clients and our assessment of that impact; supply-demand imbalances and general economic conditions affecting local real estate prices and a general deterioration in commercial real estate market fundamentals; the costs and effects of legal and regulatory developments, the outcomes of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals; the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities, and insurance) and their application with which we and our subsidiaries must comply; the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as other accounting standard setters; the accuracy of our financial statement estimates and assumptions; changes in the financial performance and/or condition of our borrowers; changes in the mix of loan geographies, sectors and types or the level of non -performing assets and charge-offs; changes in estimates of future credit loss reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements; changes in our liquidity position; the timely development and acceptance of new products and services and perceived overall value of these products and services by users; changes in consumer spending, borrowing, and saving habits; greater than expected costs or difficulties related to the integration of new products and lines of business; increased competition and its effect on deposit fees; technological changes, including the impact of generative artificial intelligence; the costs and effects of cyber incidents or other failures, interruptions, or security breaches of our systems or those of our customer s or thirdparty providers; dispositions; acquisitions and integration of acquired businesses; impairment of our goodwill or other intangible assets; changes in the reliability of our vendors, internal control systems, or information systems; our ability to increase market share and control expenses; our ability to attract and retain qualified employees; changes in our organization, compensation, and benefit plans; the soundness of other financial institutions; volatility and disruption in national and international financial and commodity markets; changes in the competitive environment in our markets and among banking organizations and other financial service providers; action or inaction by the federal government, including tariffs or trade wars (including potential resulting reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), government intervention in the U.S. financial system; policies related to credit card interest rates, and legislative, regulatory or supervisory actions related to so-called “de -banking,” including any new prohibitions, requirements or enforcement priorities that could affect customer relationships, compliance obligations, or operational practices; the effects of natural disasters (including hurricanes), widespread health emergencies (including pandemics), military conflict (including impacts related to the conflicts in the Middle East and resulting disruptions to energy and other commodities markets and supply chains), terrorism, civil unrest, climate change or other geopolitical events; our ability to declare and pay dividends; structural changes in the markets for origination, sale and servicing of residential mortgages; any inability to implement and maintain effective internal control over financial reporting and/or disclosure control; negative publicity and the impact on our reputation; and the limited trading activity and concentration of ownership of our common stock. Additional information regarding these and other risks and uncertainties can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and our other filings with the SEC, which are available at the SEC’s internet site (https://www.sec.gov). Forward-looking statements in this Press Release speak only as of the date of the Press Release, and we assume no obligation to update forwardlooking statements or the reasons why actual results could differ, except as may be required by law.
USE OF NON-GAAP FINANCIAL MEASURES Unaudited
We present a tangible common equity ratio and a tangible book value per diluted share that removes the effect of goodwill and other intangibles resulting from merger and acquisition activity. We believe these measures are useful to investors because they allow investors to more easily compare our capital adequacy to other companies in the industry. Non-GAAP financial measures should not be considered alternatives to GAAP-basis financial statements and other bank holding companies may define or calculate these non- GAAP measures or similar measures differently.
The GAAP to non -GAAP reconciliations are provided below.
| (Dollars in Thousands, except per share data) | | Sep 30, 2026 Jun 30, 2026 | Mar 31, 2026 | | Dec 31, 2025 Sep 30, 2025 |
| Shareowners' Equity (GAAP) | $573,862 | 570,095 | 559,912 | 552,851 | 540,635 |
| Less: Goodwill and Other Intangibles (GAAP) | 89,095 | 89,095 | 89,095 | 89,095 | 89,095 |
| Tangible Shareowners' Equity (non-GAAP) | A 484,767 | 481,000 | 470,817 | 463,756 | 451,540 |
| Total Assets (GAAP) | 4,396,752 | 4,450,483 | 4,453,734 | 4,385,765 | 4,323,774 |
| Less: Goodwill and Other Intangibles (GAAP) | 89,095 | 89,095 | 89,095 | 89,095 | 89,095 |
| Tangible Assets (non-GAAP) | B $4,307,657 | 4,361,388 | 4,364,639 | 4,296,670 | 4,234,679 |
| Tangible Common Equity Ratio (non-GAAP) | A/B 11.25% | 11.03% | 10.79% | 10.79% | 10.66% |
| Actual Diluted Shares Outstanding (GAAP) | C 17,152,603 | 17,135,824 | 17,114,954 | 17,154,586 | 17,115,336 |
| Tangible Book Value per Diluted Share (non-GAAP) A/C $ | 28.26 | 28.07 | 27.51 | 27.03 | 26.38 |
CAPITAL CITY BANK GROUP, INC. EARNINGS HIGHLIGHTS Unaudited
Three Months Ended Nine Months Ended
| (Dollars in thousands, except per share data) | Sep 30, 2026 | Jun 30, 2026 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 |
| EARNINGS | | | | | |
| Net Income Attributable to Common Shareowners $ | 16,940 | 16,277 | 15,950 | 49,034 | 47,852 |
| Diluted Net Income Per Share | $0.99 | 0.95 | 0.93 | 2.86 | 2.80 |
| PERFORMANCE | | | | | |
| Return on Average Assets (annualized) | 1.53 % | 1.48 % | 1.47 % | 1.49 % | 1.47 % |
| Return on Average Equity (annualized) | 11.67 | 11.38 | 11.67 | 11.45 | 12.12 |
| Net Interest Margin | 4.42 | 4.35 | 4.34 | 4.34 | 4.28 |
| Noninterest Income as % of Operating Revenue | 30.10 | 31.79 | 33.89 | 31.22 | 32.67 |
| Efficiency Ratio | 65.63 % | 65.76 % | 65.09 % | 65.76 % | 65.11 % |
| CAPITAL ADEQUACY | | | | | |
| Tier 1 Capital | 21.74 % | 21.10 % | 19.33 % | 21.74 % | 19.33 % |
| Total Capital | 22.99 | 22.35 | 20.59 | 22.99 | 20.59 |
| Leverage | 12.31 | 11.96 | 11.64 | 12.31 | 11.64 |
| Common Equity Tier 1 | 20.43 | 19.80 | 17.73 | 20.43 | 17.73 |
| Tangible Common Equity (1) | 11.25 | 11.03 | 10.66 | 11.25 | 10.66 |
| Equity to Assets | 13.05 % | 12.81 % | 12.50 % | 13.05 % | 12.50 % |
| ASSET QUALITY | | | | | |
| Allowance as % of Non-Performing Loans | 412.92 % | 309.72 % | 368.54 % | 412.92 % | 368.54 % |
| Allowance as a % of Loans HFI | 1.22 | 1.24 | 1.17 | 1.22 | 1.17 |
| Net Charge-Offs as % of Average Loans HFI | 0.08 | 0.14 | 0.18 | 0.11 | 0.12 |
| Nonperforming Assets as % of Loans HFI and OREO | 0.39 | 0.54 | 0.39 | 0.39 | 0.39 |
| Nonperforming Assets as % of Total Assets | 0.22 % | 0.30 % | 0.23 % | 0.22 % | 0.23 % |
| STOCK PERFORMANCE | | | | | |
| High | $53.60 | 51.04 | 44.69 | 53.60 | 44.69 |
| Low | 47.63 | 42.79 | 38.00 | 39.26 | 32.38 |
| Close | $48.33 | 49.42 | 41.79 | 48.33 | 41.79 |
| Average Daily Trading Volume | 78,025 | 95,532 | 42,187 | 91,046 | 31,559 |
| (1) Tangible common equity ratio is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 9. | | | | | |
CAPITAL CITY BANK GROUP, INC. CONSOLIDATED STATEMENT OF FINANCIAL CONDITION Unaudited
| | 2026 | | 2025 | |
|---|
| (Dollars in thousands) | Third Quarter | Second Quarter | First Quarter | Fourth Quarter | Third Quarter |
| ASSETS | | | | | |
| Cash and Due From Banks | $71,617 | 67,124 | 64,214 | 62,189 | 68,397 |
| Funds Sold and Interest Bearing Deposits | 340,015 | 412,609 | 424,756 | 467,782 | 397,502 |
| Total Cash and Cash Equivalents | 411,632 | 479,733 | 488,970 | 529,971 | 465,899 |
| Investment Securities Available for Sale | 862,097 | 853,608 | 800,550 | 643,922 | 577,333 |
| Investment Securities Held to Maturity | 315,142 | 304,460 | 353,296 | 377,446 | 404,659 |
| Other Equity Securities | 3,203 | 2,068 | 2,083 | 2,069 | 2,145 |
| Total Investment Securities | 1,180,442 | 1,160,136 | 1,155,929 | 1,023,437 | 984,137 |
| Loans Held for Sale ("HFS"): | 23,455 | 34,278 | 25,088 | 21,695 | 24,204 |
| Loans Held for Investment ("HFI"): | | | | | |
| Commercial, Financial, & Agricultural | 168,144 | 172,536 | 170,268 | 180,341 | 179,018 |
| Real Estate - Construction | 149,335 | 149,127 | 156,630 | 146,920 | 156,756 |
| Real Estate - Commercial | 736,380 | 750,637 | 755,800 | 768,731 | 785,290 |
| Real Estate - Residential | 1,004,083 | 998,145 | 998,720 | 1,020,942 | 1,037,324 |
| Real Estate - Home Equity | 246,120 | 244,462 | 243,932 | 240,897 | 234,111 |
| Consumer | 184,020 | 180,859 | 179,515 | 182,327 | 185,847 |
| Other Loans | 355 | 2,668 | 12,347 | 4,748 | 2,283 |
| Overdrafts | 1,287 | 1,437 | 1,192 | 1,212 | 1,378 |
| Total Loans Held for Investment | 2,489,724 | 2,499,871 | 2,518,404 | 2,546,118 | 2,582,007 |
| Allowance for Credit Losses | (30,369) | (31,007) | (30,999) | (31,001) | (30,202) |
| Loans Held for Investment, Net | 2,459,355 | 2,468,864 | 2,487,405 | 2,515,117 | 2,551,805 |
| Premises and Equipment, Net | 83,257 | 81,148 | 77,670 | 79,457 | 79,748 |
| Goodwill and Other Intangibles | 89,095 | 89,095 | 89,095 | 89,095 | 89,095 |
| Other Real Estate Owned | 2,353 | 3,424 | 1,822 | 1,936 | 1,831 |
| Other Assets | 147,163 | 133,805 | 127,755 | 125,057 | 127,055 |
| Total Other Assets | 321,868 | 307,472 | 296,342 | 295,545 | 297,729 |
| Total Assets | $4,396,752 | 4,450,483 | 4,453,734 | 4,385,765 | 4,323,774 |
| LIABILITIES | | | | | |
| Deposits: | | | | | |
| Noninterest Bearing Deposits | $1,331,669 | 1,344,694 | 1,299,933 | 1,251,886 | 1,303,786 |
| NOW Accounts | 1,248,073 | 1,282,360 | 1,309,527 | 1,322,114 | 1,222,861 |
| Money Market Accounts | 420,163 | 418,342 | 432,874 | 390,888 | 405,846 |
| Savings Accounts | 509,387 | 511,000 | 516,149 | 503,485 | 500,323 |
| Certificates of Deposit | 157,276 | 164,613 | 193,134 | 193,939 | 182,096 |
| Total Deposits | 3,666,568 | 3,721,009 | 3,751,617 | 3,662,312 | 3,614,912 |
| Repurchase Agreements | 7,187 | 7,420 | 4,561 | 22,018 | 25,629 |
| Other Short-Term Borrowings | 31,694 | 39,487 | 28,715 | 28,074 | 14,615 |
| Subordinated Notes Payable | 33,303 | 33,303 | 33,303 | 42,582 | 42,582 |
| Other Long-Term Borrowings | 567 | 567 | 680 | 680 | 680 |
| Other Liabilities | 83,571 | 78,602 | 74,946 | 77,248 | 84,721 |
| Total Liabilities | 3,822,890 | 3,880,388 | 3,893,822 | 3,832,914 | 3,783,139 |
| SHAREOWNERS' EQUITY | | | | | |
| Common Stock | 171 | 171 | 171 | 171 | 171 |
| Additional Paid-In Capital | 41,516 | 40,821 | 39,854 | 41,650 | 40,067 |
| Retained Earnings | 543,611 | 531,291 | 519,632 | 508,443 | 499,176 |
| Accumulated Other Comprehensive (Loss) Income, Net of Tax | (11,436) | (2,188) | 255 | 2,587 | 1,221 |
| Total Shareowners' Equity | 573,862 | 570,095 | 559,912 | 552,851 | 540,635 |
| Total Liabilities and Shareowners' Equity | $4,396,752 | 4,450,483 | 4,453,734 | 4,385,765 | 4,323,774 |
| OTHER BALANCE SHEET DATA | | | | | |
| Earning Assets | $4,033,636 | 4,106,894 | 4,124,177 | 4,059,032 | 3,987,850 |
| Interest Bearing Liabilities | 2,407,650 | 2,457,092 | 2,518,943 | 2,503,780 | 2,394,632 |
| Book Value Per Diluted Share | $33.46 | 33.27 | 32.71 | 32.23 | 31.59 |
| Tangible Book Value Per Diluted Share (1) | 28.26 | 28.07 | 27.51 | 27.03 | 26.38 |
| Actual Basic Shares Outstanding | 17,113 | 17,111 | 17,098 | 17,084 | 17,069 |
| Actual Diluted Shares Outstanding | 17,153 | 17,136 | 17,115 | 17,155 | 17,115 |
(1) Tangible book value per diluted share is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 9.
CAPITAL CITY BANK GROUP, INC. CONSOLIDATED STATEMENT OF OPERATIONS Unaudited
Nine Months Ended
| | 2026 | | 2025 | | | September 30, |
|---|
| Third | Second | First | Fourth | Third | | |
|---|
| (Dollars in thousands, except per share data) | Quarter | Quarter | Quarter | Quarter | Quarter | 2026 | 2025 |
| INTEREST INCOME | | | | | | | |
| Loans, including Fees | $38,652 | | 38,212 $38,254 | | | | 39,565 $40,279 $115,118 $121,629 |
| Investment Securities | 10,640 | 10,260 | 9,055 | 7,768 | 7,188 | 29,955 | 19,674 |
| Federal Funds Sold and Interest Bearing Deposits | 3,194 | 3,366 | 3,711 | 4,382 | 3,964 | 10,271 | 11,369 |
| Total Interest Income | 52,486 | 51,838 | 51,020 | 51,715 | 51,431 | 155,344 | 152,672 |
| INTEREST EXPENSE | | | | | | | |
| Deposits | 6,780 | 6,933 | 7,395 | 7,544 | 7,265 | 21,108 | 22,053 |
| Repurchase Agreements | 79 | 61 | 73 | 134 | 158 | 213 | 478 |
| Other Short-Term Borrowings | 316 | 349 | 327 | 217 | 58 | 992 | 354 |
| Subordinated Notes Payable | 293 | 288 | 398 | 451 | 383 | 979 | 1,473 |
| Other Long-Term Borrowings | 8 | 9 | 10 | 9 | 10 | 27 | 26 |
| Total Interest Expense | 7,476 | 7,640 | 8,203 | 8,355 | 7,874 | 23,319 | 24,384 |
| Net Interest Income | 45,010 | 44,198 | 42,817 | 43,360 | 43,557 | 132,025 | 128,288 |
| Provision for Credit Losses | (80) | 919 | 712 | 1,995 | 1,881 | 1,551 | 3,269 |
| Net Interest Income after Provision for Credit Losses | 45,090 | 43,279 | 42,105 | 41,365 | 41,676 | 130,474 | 125,019 |
| NONINTEREST INCOME | | | | | | | |
| Deposit Fees | 5,168 | 5,656 | 5,598 | 5,811 | 5,877 | 16,422 | 16,258 |
| Bank Card Fees | 3,830 | 3,858 | 3,630 | 3,684 | 3,733 | 11,318 | 11,021 |
| Wealth Management Fees | 4,640 | 4,185 | 4,051 | 4,525 | 5,173 | 12,876 | 16,142 |
| Mortgage Banking Revenues | 3,673 | 4,660 | 4,252 | 4,155 | 4,794 | 12,585 | 12,804 |
| Other | 2,073 | 2,240 | 2,402 | 1,928 | 2,754 | 6,715 | 6,027 |
| Total Noninterest Income | 19,384 | 20,599 | 19,933 | 20,103 | 22,331 | 59,916 | 62,252 |
| NONINTEREST EXPENSE | | | | | | | |
| Compensation | 25,620 | 25,836 | 25,703 | 28,384 | 26,056 | 77,159 | 78,794 |
| Occupancy, Net | 7,294 | 7,319 | 7,083 | 7,052 | 7,037 | 21,696 | 20,901 |
| Other | 9,381 | 9,485 | 8,587 | 7,431 | 9,823 | 27,453 | 24,460 |
| Total Noninterest Expense | 42,295 | 42,640 | 41,373 | 42,867 | 42,916 | 126,308 | 124,155 |
| OPERATING PROFIT | 22,179 | 21,238 | 20,665 | 18,601 | 21,091 | 64,082 | 63,116 |
| Income Tax Expense | 5,239 | 4,961 | 4,848 | 4,896 | 5,141 | 15,048 | 15,264 |
| NET INCOME | $16,940 | | 16,277 $15,817 | | 13,705 $15,950 | | 49,034 $47,852 |
| PER COMMON SHARE | | | | | | | |
| Basic Net Income | $0.99 | 0.95 | 0.92 | 0.80 | 0.93 | 2.87 | 2.81 |
| Diluted Net Income | 0.99 | 0.95 | 0.92 | 0.80 | 0.93 | 2.86 | 2.80 |
| Cash Dividend | $0.27 | 0.27 | 0.27 | 0.26 | 0.26 | 0.81 | 0.74 |
| AVERAGE SHARES | | | | | | | |
| Basic | 17,113 | 17,101 | 17,129 | 17,070 | 17,068 | 17,114 | 17,050 |
| Diluted | 17,152 | 17,126 | 17,146 | 17,140 | 17,114 | 17,141 | 17,083 |
CAPITAL CITY BANK GROUP, INC. ALLOWANCE FOR CREDIT LOSSES ("ACL") AND CREDIT QUALITY Unaudited
Nine Months Ended
| | 2026 | | 2025 | | | September 30, |
|---|
| Third | | Second | First | Fourth | Third | | |
| (Dollars in thousands, except per share data) | Quarter | Quarter | Quarter | Quarter | Quarter | 2026 | 2025 |
| ACL - HELD FOR INVESTMENT LOANS | | | | | | | |
| Balance at Beginning of Period | $31,007 | 30,999 | 31,001 | 30,202 | 29,862 | 31,001 | 29,251 |
| Provision for Credit Losses | (129) | 904 | 635 | 1,984 | 1,550 | 1,410 | 3,351 |
| Net Charge-Offs | 509 | 896 | 637 | 1,185 | 1,210 | 2,042 | 2,400 |
| Balance at End of Period | $30,369 | 31,007 | 30,999 | 31,001 | 30,202 | 30,369 | 30,202 |
| As a % of Loans HFI | 1.22% | 1.24% | 1.23% | 1.22% | 1.17% | 1.22% | 1.17% |
| As a % of Nonperforming Loans | 412.92% | 309.72% | 278.19% | 360.69% | 368.54% | 412.92% | 368.54% |
| ACL - UNFUNDED COMMITMENTS | | | | | | | |
| Balance at Beginning of Period | $2,197 | 2,189 | 2,107 | 2,095 | 1,738 | 2,107 | 2,155 |
| Provision for Credit Losses | 44 | 8 | 82 | 12 | 357 | 134 | (60) |
| Balance at End of Period (1) | $2,241 | 2,197 | 2,189 | 2,107 | 2,095 | 2,241 | 2,095 |
| ACL - DEBT SECURITIES | | | | | | | |
| Provision for Credit Losses | $5 | 7 | (5) | (1) | (26) | 7 | (22) |
| CHARGE-OFFS | | | | | | | |
| Commercial, Financial and Agricultural | $251 | 577 | 300 | 167 | 373 | 1,128 | 615 |
| Real Estate - Construction | - | - | - | - | - | - | - |
| Real Estate - Commercial | - | - | - | 4 | - | - | - |
| Real Estate - Residential | 9 | 38 | - | 67 | 12 | 47 | 69 |
| Real Estate - Home Equity | (7) | - | 13 | 10 | 10 | 6 | 34 |
| Consumer | 825 | 613 | 852 | 925 | 954 | 2,290 | 2,733 |
| Overdrafts | 1,058 | 524 | 631 | 670 | 619 | 2,213 | 1,626 |
| Total Charge-Offs | $2,136 | 1,752 | 1,796 | 1,843 | 1,968 | 5,684 | 5,077 |
| RECOVERIES | | | | | | | |
| Commercial, Financial and Agricultural | $282 | 65 | 74 | 44 | 95 | 421 | 287 |
| Real Estate - Construction | - | - | - | - | - | - | - |
| Real Estate - Commercial | 7 | 7 | 84 | 29 | 8 | 98 | 17 |
| Real Estate - Residential | 163 | 27 | 77 | 8 | 13 | 267 | 197 |
| Real Estate - Home Equity | 4 | 4 | 10 | 6 | 10 | 18 | 61 |
| Consumer | 401 | 468 | 579 | 246 | 369 | 1,448 | 1,306 |
| Overdrafts | 770 | 285 | 335 | 325 | 263 | 1,390 | 809 |
| Total Recoveries | $1,627 | 856 | 1,159 | 658 | 758 | 3,642 | 2,677 |
| NET CHARGE-OFFS | $509 | 896 | 637 | 1,185 | 1,210 | 2,042 | 2,400 |
| Net Charge-Offs as a % of Average Loans HFI (2) | 0.08% | 0.14% | 0.10% | 0.18% | 0.18% | 0.11% | 0.12% |
| CREDIT QUALITY | | | | | | | |
| Nonaccruing Loans | $7,355 | 10,011 | 11,143 | 8,595 | 8,195 | | |
| Other Real Estate Owned | 2,353 | 3,424 | 1,822 | 1,936 | 1,831 | | |
| Total Nonperforming Assets ("NPAs") | $9,708 | 13,435 | 12,965 | 10,531 | 10,026 | | |
| Past Due Loans 30-89 Days | $4,187 | 2,680 | 6,643 | 7,017 | 5,468 | | |
| Classified Loans | | | | | | | |
| Commercial, Financial and Agricultural | 407 | 1,479 | 1,660 | 1,650 | 1,514 | | |
| Real Estate - Construction | 1,013 | 379 | - | - | 718 | | |
| Real Estate - Commercial | 13,783 | 21,638 | 6,374 | 5,897 | 11,745 | | |
| Real Estate - Residential | 3,693 | 3,825 | 3,497 | 3,601 | 8,348 | | |
| Real Estate - Home Equity | 1,101 | 1,461 | 2,003 | 1,957 | 3,043 | | |
| Consumer | 820 | 1,020 | 1,011 | 1,229 | 1,144 | | |
| Total Classified Loans | 20,817 | 29,802 | 14,545 | 14,334 | 26,512 | | |
| Nonperforming Loans as a % of Loans HFI | 0.30% | 0.40% | 0.44% | 0.34% | 0.32% | | |
| NPAs as a % of Loans HFI and Other Real Estate | 0.39% | 0.54% | 0.51% | 0.41% | 0.39% | | |
| NPAs as a % of Total Assets | 0.22% | 0.30% | 0.29% | 0.24% | 0.23% | | |
(1) Recorded in other liabilities.
(2) Annualized.
CAPITAL CITY BANK GROUP, INC. AVERAGE BALANCE AND INTEREST RATES Unaudited
Third Quarter 2026 Second Quarter 2026 First Quarter 2026 Fourth Quarter 2025 Third Quarter 2025 September 2026 YTD September 2025 YTD
Average Average Average Average Average Average Average Average Average Average Average Average Average Average (Dollars in thousands) Balance Interest Rate Balance Interest Rate Balance Interest Rate Balance Interest Rate Balance Interest Rate Balance Interest Rate Balance Interest Rate
ASSETS:
| Loans Held for Sale | | 26,993 $420 | | | 6.17 % $30,505 $500 | | | 6.57 % $24,716 $404 | | 6.63 % $24,261 | 374 | | | 6.11 % $25,276 $425 | | | 6.68 % $27,413 $1,324 | | | 6.46 % $24,226 $1,390 | 7.67 % |
| Loans Held for Investment (1) 2,495,535 38,277 6.09 2,505,875 37,751 6.04 | | | | | | | | | 2,538,318 37,886 6.05 | | | 2,568,073 39,230 6.06 | | | 2,606,213 39,894 6.07 | | | 2,513,086 113,914 6.06 | | | 2,641,346 120,359 6.09 |
| Investment Securities | | | | | | | | | | | | | | | | | | | | | |
| Taxable Investment Securities 1,176,534 10,629 3.60 1,165,965 10,249 3.52 | | | | | | | | 1,117,505 9,042 | 3.26 | | 1,004,420 7,756 | 3.07 | | 992,260 7,175 | 2.88 | | 1,153,550 29,920 | 3.46 | | 993,460 19,644 | 2.64 |
| Tax-Exempt Investment Securities (1) 1,349 15 4.39 | | | | 1,356 | 15 | 4.41 | 1,620 | 17 | 4.25 | 1,620 | 17 | 4.30 | 1,620 | 18 | 4.44 | 1,441 | 47 | 4.35 | 1,313 | 43 | 4.43 |
| Total Investment Securities 1,177,883 10,644 3.60 1,167,321 10,264 | | | | | | 3.52 | | 1,119,125 9,059 | 3.26 | | 1,006,040 7,773 | 3.08 | | 993,880 7,193 | 2.88 | | 1,154,991 29,967 | 3.46 | | 994,773 19,687 | 2.64 |
| Federal Funds Sold and Interest | | | | | | | | | | | | | | | | | | | | | |
| Bearing Deposits | | 337,862 3,194 | 3.75 | | 365,126 3,366 | 3.70 | | 407,679 3,711 | 3.69 | | 437,536 4,382 | 3.97 | | 356,161 3,964 | 4.42 | 369,967 | 10,271 | 3.71 | | 342,094 11,369 | 4.44 |
| Total Earning Assets | | | | | | | | | | | | | | | | | | | | | 4,038,273 $52,535 5.15 % 4,068,827 $51,881 5.11 % 4,089,838 $51,060 5.06 % 4,035,910 $51,759 5.08 % 3,981,530 $51,476 5.12 % 4,065,457 $155,476 5.11 % 4,002,439 $152,805 5.10 % |
| Cash and Due From Banks | 70,540 | | | 64,337 | | | 63,079 | | | 67,291 | | | 65,085 | | | 66,013 | | | 68,074 | | |
| Allowance for Credit Losses (31,607) | | | | (31,602) | | | (31,545) | | | (30,922) | | | (30,342) | | | (31,585) | | | (30,282) | | |
| Other Assets | 309,290 | | | 305,809 | | | 297,532 | | | 294,757 | | | 301,678 | | | 304,254 | | | 300,788 | | |
| Total Assets | $4,386,496 | | | $4,407,371 | | | $4,418,904 | | | $4,367,036 | | | $4,317,951 | | | $4,404,139 | | | $4,341,019 | | |
| LIABILITIES: | | | | | | | | | | | | | | | | | | | | | |
| Noninterest Bearing Deposits $ 1,316,425 | | | | $1,308,276 | | | $1,282,988 | | | $1,303,266 | | | $1,314,560 | | | $1,302,686 | | | $1,324,753 | | |
| NOW Accounts | | | | | | | | | | | | 1,224,587 $3,804 1.23 % 1,263,616 $3,938 1.25 % 1,302,894 $4,221 1.31 % 1,235,961 $4,055 | | | | | 1.30 % 1,198,124 $3,782 1.25 % 1,263,412 $11,963 | | | | 1.27 % 1,224,402 $11,386 1.24 % |
| Money Market Accounts | | 433,430 1,964 | 1.80 | | 419,983 1,857 | 1.77 | | 403,340 1,752 | 1.76 | | 415,577 1,977 | 1.89 | | 416,656 2,090 | 1.99 | 419,028 | 5,573 | 1.78 | 422,817 | 6,617 | 2.09 |
| Savings Accounts | 511,313 | 102 | 0.08 | 513,815 | 100 | 0.08 | 509,351 | 132 | 0.10 | 501,080 | 157 | 0.12 | 503,189 | 159 | 0.13 | 511,500 | 334 | 0.09 | 506,255 | 509 | 0.13 |
| Time Deposits | 161,771 | 910 | 2.23 | | 173,086 1,038 | 2.41 | | 192,443 1,290 | 2.72 | | 191,626 1,355 | 2.80 | | 179,802 1,234 | 2.72 | 175,655 | 3,238 | 2.46 | 174,418 | 3,541 | 2.71 |
| Total Interest Bearing Deposits 2,331,101 6,780 1.15 2,370,500 6,933 1.17 | | | | | | | | 2,408,028 7,395 | 1.25 | | 2,344,244 7,544 | 1.28 | | 2,297,771 7,265 | 1.25 | | 2,369,595 21,108 | 1.19 | | 2,327,892 22,053 | 1.27 |
| Total Deposits | | 3,647,526 6,780 | 0.74 | | 3,678,776 6,933 | 0.76 | | 3,691,016 7,395 | 0.81 | | 3,647,510 7,544 | 0.82 | | 3,612,331 7,265 | 0.80 | | 3,672,281 21,108 | 0.77 | | 3,652,645 22,053 | 0.81 |
| Repurchase Agreements | 14,160 | 79 | 2.20 | 10,917 | 61 | 2.24 | 15,789 | 73 | 1.88 | 20,690 | 134 | 2.57 | 21,966 | 158 | 2.86 | 13,616 | 213 | 2.09 | 24,752 | 478 | 2.58 |
| Other Short-Term Borrowings 31,532 | | 316 | 3.98 | 33,545 | 349 | 4.17 | 27,836 | 327 | 4.76 | 20,954 | 217 | 4.09 | 12,753 | 58 | 1.82 | 30,984 | 992 | 4.28 | 10,251 | 354 | 4.62 |
| Subordinated Notes Payable 33,303 | | 293 | 3.45 | 33,303 | 288 | 3.42 | 41,620 | 398 | 3.83 | 42,582 | 451 | 4.15 | 42,582 | 383 | 3.52 | 36,045 | 979 | 3.58 | 49,113 | 1,473 | 3.95 |
| Other Long-Term Borrowings | 567 | 8 | 5.55 | 660 | 9 | 5.78 | 680 | 10 | 5.68 | 680 | 9 | 5.55 | 681 | 10 | 5.55 | 635 | 27 | 5.68 | 755 | 26 | 4.50 |
| Total Interest Bearing Liabilities 2,410,663 $ 7,476 1.23 % 2,448,925 $ 7,640 1.25 % 2,493,953 $ 8,203 1.33 % 2,429,150 $ 8,355 1.36 % 2,375,753 $ 7,874 1.32 % 2,450,875 $ 23,319 1.27 % 2,412,763 $ 24,384 1.35 % | | | | | | | | | | | | | | | | | | | | | |
| Other Liabilities | 83,642 | | | 76,331 | | | 74,300 | | | 78,520 | | | 85,422 | | | 78,126 | | | 75,664 | | |
| Total Liabilities | 3,810,730 | | | 3,833,532 | | | 3,851,241 | | | 3,810,936 | | | 3,775,735 | | | 3,831,687 | | | 3,813,180 | | |
| SHAREOWNERS' EQUITY: | 575,766 | | | 573,839 | | | 567,663 | | | 556,100 | | | 542,216 | | | 572,452 | | | 527,839 | | |
| Total Liabilities, Temporary Equity | | | | | | | | | | | | | | | | | | | | | |
| and Shareowners' Equity $ 4,386,496 | | | | $4,407,371 | | | $4,418,904 | | | $4,367,036 | | | $4,317,951 | | | $4,404,139 | | | $4,341,019 | | |
| Interest Rate Spread | | $45,059 | 3.92 % | | $44,241 | 3.86 % | | $42,857 | 3.72 % | | $43,404 | 3.72 % | | $43,602 | 3.81 % | | $132,157 | 3.83 % | | $128,421 | 3.75 % |
| Interest Income and Rate Earned (1) 52,535 5.15 | | | | | 51,881 | 5.11 | | 51,060 | 5.06 | | 51,759 | 5.08 | | 51,476 | 5.12 | | 155,476 | 5.11 | | 152,805 | 5.10 |
| Interest Expense and Rate Paid (2) 7,476 | | | 0.73 | | 7,640 | 0.75 | | 8,203 | 0.81 | | 8,355 | 0.82 | | 7,874 | 0.78 | | 23,319 | 0.77 | | 24,384 | 0.81 |
| Net Interest Margin | | $45,059 | 4.42 % | | $44,241 | 4.35 % | | $42,857 | 4.24 % | | $43,404 | 4.26 % | | $43,602 | 4.34 % | | $132,157 | 4.34 % | | $128,421 | 4.28 % |
(1) Interest and average rates are calculated on a tax-equivalent basis using a 21% Federal tax rate.
(2) Rate calculated based on average earning assets.