Capital City Bank (CCBG) 8-K Results of Operations and Financial Condition

FINANCIAL HIGHLIGHTS - 2006

·   2006 earnings of $33.3 million, or $1.79 per diluted share, an increase of 9.9% and 7.8%, respectively, over 2005. Fourth quarter earnings totaled $8.8 million, or $.48 per diluted share compared to $7.5 million, or $.40 per diluted share for the same period in 2005.

·   Strong growth in operating revenuse led by an 8.3% improvement in net interest income and a 13.0% increase in noninterest income.

·   Improvement in net interest margin as reflected by a 26 basis point increase over 2005 - net interest margin of 5.35% significantly exceeds peer group.

·   Continued Strong credit quality as reflected by a nonperforming asset ratio of .44% and an annualized net charge-off ratio of .11%

·   Well-capitalized with a risk based capital ratio of 14.95%.

	Three Months Ended								Twelve Months Ended
		Dec 31,			Sept 30,		Dec 31,		Dec 31,		Dec 31,
(Dollars in thousands, except per share data)		2006			2006		2005		2006		2005
EARNINGS
Net Income		$	8,850			8,680		7,459		33,265		30,281
Diluted Earnings Per Common Share			0.48			0.47		0.40		1.79		1.66
PERFORMANCE
Return on Average Equity			10.84	%		10.83		9.67		10.48		10.56
Return on Average Assets			1.37			1.35		1.14		1.29		1.22
Net Interest Margin			5.35			5.45		5.16		5.35		5.09
Noninterest Income as % of Operating Revenue			32.71			31.88		30.68		31.81		30.91
Efficiency Ratio			63.99			64.35		65.22		65.42		64.79
CAPITAL ADEQUACY
Tier 1 Capital Ratio			14.00	%		13.76		12.61		14.00		12.61
Total Capital Ratio			14.95			14.72		13.56		14.95		13.56
Leverage Ratio			11.30			11.26		10.27		11.30		10.27
Equity to Assets			12.15			12.47		11.66		12.15		11.66

	Three Months Ended								Twelve Months Ended
		Dec 31,			Sept 30,		Dec 31,			Dec 31,		Dec 31,
(Dollars in thousands, except per share data)		2006			2006		2005			2006		2005
ASSET QUALITY
Allowance as % of Non-Performing Loans			214.09	%		269.35		331.11			214.09		331.11
Allowance as a % of Loans			0.86			0.86		0.84			0.86		0.84
Net Charge-Offs as % of Average Loans			0.11			0.13		0.26			0.11		0.13
Nonperforming Assets as % of Loans and ORE			0.44			0.34		0.27			0.44		0.27
STOCK PERFORMANCE
High		$	35.98			33.25		39.33			37.97		39.33
Low			30.14			29.87		33.21			29.51		28.02
Close		$	35.30			31.10		34.29			35.30		34.29
Average Daily Trading Volume			19,826			19,185		15,266			20,449		19,493

Capital City Bank Group, Inc. (NASDAQ: CCBG) reported earnings for the year ended 2006 totaling $33.3 million, or $1.79 per diluted share. This compares to $30.3 million or $1.66 per diluted share in 2005. Results in 2006 reflect the acquisition of First National Bank of Alachua in May 2005. Earnings increased 9.9% and 7.8% on a dollar and per diluted share basis, respectively. For the fourth quarter of 2006, earnings totaled $8.8 million, or $.48 per diluted share. This compares to $7.5 million or $.40 per diluted share for the fourth quarter of 2005. For the year 2006, the Return on Average Assets was 1.29% and the Return on Average Equity was 10.48%, compared to 1.22% and 10.56%, respectively, for 2005.

The increase in earnings for the year was attributable to an increase in operating revenues (net interest income plus noninterest income) of $15.5 million and a reduction in the loan loss provision of $548,000, partially offset by an increase in noninterest expense of $11.8 million and income taxes of $1.3 million. The increase in operating revenues is reflective of an 8.3% increase in net interest income and a 13.0% increase in noninterest income.

Earnings for the fourth quarter 2006 increased due to an increase in operating revenue of $1.7 million and a decrease in the loan loss provision of $873,000, partially offset by an increase in noninterest expense of $642,000 and income taxes of $538,000. The increase in operating revenues is due to a 1.0% increase in net interest income and a 10.9% increase in noninterest income. A 19 basis point improvement in the net interest margin drove the improvement in net interest income while higher deposit fees, retail brokerage fees, and card processing fees were the primary reasons for the improvement in noninterest income. The lower loan loss provision is reflective of a lower level of required reserves. The higher expense level is primarily attributable to higher compensation, primarily higher associate salaries reflective of merit and market salary increases and new associates added during 2006.

William G. Smith, Jr., Chairman, President and CEO, stated, “Capital City enjoyed another record year, and we enter 2007 with a good deal of confidence. Our diverse markets offer many growth opportunities and we have four new offices scheduled to come on-line during 2007. Our strategy is well-defined and our associates continue to focus on achieving our goal of earning $50 million in 2010.”

Tax equivalent net interest income in 2006 increased $9.7 million, or 8.8% over 2005 due to improvement in the net interest margin. The full year net interest margin of 5.35% increased 26 basis points from the comparable period in 2005, attributable to a 96 basis point improvement in earning asset yields partially offset by the higher cost of funds of 70 basis points. The higher rate environment resulted in a favorable re-pricing spread on existing earning assets and higher yield on new loan production, which was partially offset by a decrease in earning asset volume.

Provision for loan losses of $2.0 million for the year was $548,000 lower than 2005 due to a lower level of required reserves, Net charge-offs totaled $2.1 million, or .11%, of average loans for 2006 compared to $2.5 million, or .13%, for 2005. At year-end, the allowance for loan losses was .86% of outstanding loans and provided coverage of 214% of nonperforming loans.

Noninterest income increased $6.4 million, or 13.0%, over 2005 primarily due to higher deposit fees, retail brokerage fees, and card processing fees. The increase in deposit fees is due to the growth in deposit accounts reflective of strong deposit growth that has resulted from the Company’s “Absolutely Free" checking products. The improvement in retail brokerage fees is due to an increase in the sales force, which has increased production. Card processing fees were driven higher by increased transaction volume for merchant services and increased bank card activity.

Noninterest expense grew by $11.8 million, or 10.7%, over 2005. Higher expense for compensation, occupancy, intangible amortization, and interchange fees were the primary reasons for the increase. The increase in compensation, occupancy, and intangible amortization are primarily reflective of the mid-2005 acquisition of First National Bank of Alachua. The increase in interchange fees was driven by higher transaction volume for merchant services and increase bank card activity.

Average earning assets for the fourth quarter decreased $40.9 million, or 1.80%, over the comparable quarter in 2005. The decrease in earning assets is primarily reflective of a decrease in average loans reflective of higher principal pay-downs and loan pay-offs, and lower new loan production.

Nonperforming assets of $8.7 million increased from the comparable period of 2005 by $3.2 million. The increase in the level of nonperforming assets is due to an increase in non-accrual loans. Despite the increase in non-accrual loans, there was a net reduction in the level of required reserves for these assets due to the resolution of several loans and strong collateral valuations for new loans added during the year. Nonperforming assets represented .44% of loans and other real estate at the end of the fourth quarter compared to .27% for the same period in 2005.

Average total deposits increased $4.4 million, or .22%, from the fourth quarter of 2005 driven by an $80.7 million increase in transaction accounts, partially offset by a $21.4 million decrease in savings deposits and $54.9 million decrease in certificates of deposit. The increase in transaction accounts is reflective of growth in balances related to “Absolutely Free” deposit products, and the Company’s Cash Power money market account products.

The Company had approximately $26.1 million in average net overnight funds sold for the fourth quarter of 2006 as compared to $5.7 million in average net overnight funds purchased in the fourth quarter of 2005. The improvement is due primarily to the aforementioned deposit growth and an overall reduction in the loan portfolio.

About Capital City Bank Group, Inc.

Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest financial services companies headquartered in Florida and has approximately $2.6 billion in assets. The Company provides a full range of banking services, including traditional deposit and credit services, asset management, trust, mortgage banking, merchant services, bankcards, data processing and securities brokerage services. The Company's bank subsidiary, Capital City Bank, was founded in 1895 and now has 69 banking offices, four mortgage lending offices, and 80 ATMs in Florida, Georgia and Alabama. In 2006, Mergent, Inc., a leading provider of information on publicly traded companies, named the Company as a Dividend Achiever. To be named a Dividend Achiever, a public company must have increased its regular cash dividends for at least 10 consecutive years. Of all publicly traded U.S. companies that pay dividends, less than three percent made this list. Capital City Bank Group, Inc. was also named to this list in 2005. For more information about Capital City Bank Group, Inc., visit www.ccbg.com.

FORWARD-LOOKING STATEMENTS

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 following factors, among others, could cause our actual results to differ: our ability to integrate acquisitions; the strength of the U.S. economy and the local economies where we conduct operations; harsh weather conditions; fluctuations in inflation, interest rates, or monetary policies; changes in the stock market and other capital and real estate markets; legislative or regulatory changes; customer acceptance of third-party products and services; increased competition and its effect on pricing; technological changes; changes in consumer spending and savings habits; our growth and profitability; changes in accounting; and our ability to manage the risks involved in the foregoing. Additional factors can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2005, and our other filings with the SEC, which are available at the SEC’s internet site (http://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 forward-looking statements or the reasons why actual results could differ.

CAPITAL CITY BANK GROUP, INC.
CONSOLIDATED STATEMENT OF INCOME
Unaudited
	2006										2005		Twelve Months Ended
	Fourth			Third		Second			First		Fourth		December 31,
(Dollars in thousands, except per share data)	Quarter			Quarter		Quarter			Quarter		Quarter		2006			2005
INTEREST INCOME
Interest and Fees on Loans		$	40,096	$	40,260		38,967			37,343		36,990		156,666			133,268
Investment Securities			1,928		1,914		1,816			1,530		1,437		7,188			5,794
Funds Sold			576		338		586			539		353		2,039			991
Total Interest Income			42,600		42,512		41,369			39,412		38,780		165,893			140,053
INTEREST EXPENSE
Deposits			10,830		9,985		8,716			7,722		6,727		37,253			21,134
Short-Term Borrowings			722		753		776			824		979		3,075			2,854
Subordinated Notes Payable			936		936		926			926		942		3,725			2,981
Other Long-Term Borrowings			515		615		764			810		822		2,704			3,094
Total Interest Expense			13,003		12,289		11,182			10,282		9,470		46,757			30,063
Net Interest Income			29,597		30,223		30,187			29,130		29,310		119,136			109,990
Provision for Loan Losses			460		711		121			667		1,333		1,959			2,507
Net Interest Income after Provision for Loan Losses			29,137		29,512		30,066			28,463		27,977		117,177			107,483
NONINTEREST INCOME
Service Charges on Deposit Accounts			6,394		6,450		6,096			5,680		5,722		24,620			20,740
Data Processing			709		674		703			637		693		2,723			2,610
Asset Management Fees			1,180		1,215		1,155			1,050		1,244		4,600			4,419
Retail Brokerage Fees			586		520		502			483		404		2,091			1,321
Gain on Sale of Investment Securities			-		-		(4	)		-		-		(4	)		9
Mortgage Banking Revenues			787		824		903			721		956		3,235			4,072
Merchant Fees			1,694		1,766		1,793			1,725		1,522		6,978			6,174
Interchange Fees			845		797		788			675		631		3,105			2,239
ATM/Debit Card Fees			658		635		627			599		582		2,519			2,206
Other			1,532		1,263		1,440			1,475		1,220		5,710			5,408
Total Noninterest Income			14,385		14,144		14,003			13,045		12,974		55,577			49,198
NONINTEREST EXPENSE
Salaries and Associate Benefits			14,943		15,278		15,204			15,430		13,894		60,855			53,687
Occupancy, Net			2,460		2,354		2,358			2,223		2,202		9,395			8,293
Furniture and Equipment			2,259		2,491		2,661			2,500		2,381		9,911			8,970
Intangible Amortization			1,484		1,536		1,536			1,530		1,518		6,085			5,440
Other			8,838		8,763		9,311			8,409		9,347		35,322			33,424
Total Noninterest Expense			29,984		30,422		31,070			30,092		29,342		121,568			109,814
OPERATING PROFIT			13,538		13,234		12,999			11,416		11,609		51,186			46,867
Provision for Income Taxes			4,688		4,554		4,684			3,995		4,150		17,921			16,586
NET INCOME		$	8,850	$	8,680		8,315			7,421		7,459		33,265			30,281
PER SHARE DATA
Basic Earnings		$	0.48	$	0.47		0.44			0.40		0.40		1.79			1.66
Diluted Earnings			0.48		0.47		0.44			0.40		0.40		1.79			1.66
Cash Dividends			0.175		0.163		0.163			0.163		0.163		0.663			0.619
AVERAGE SHARES
Basic			18,525		18,530		18,633			18,652		18,624		18,585			18,264
Diluted			18,569		18,565		18,653			18,665		18,654		18,610			18,281

CAPITAL CITY BANK GROUP, INC.
CONSOLIDATED STATEMENT OF FINANCIAL CONDITION
Unaudited
	2006													2005
		Fourth			Third			Second			First			Fourth
(Dollars in thousands, except per share data)		Quarter			Quarter			Quarter			Quarter			Quarter
ASSETS
Cash and Due From Banks		$	98,769			100,781			103,078			104,486			105,195
Funds Sold and Interest Bearing Deposits			78,795			35,631			126,210			110,604			61,164
Total Cash and Cash Equivalents			177,564			136,412			229,288			215,090			166,359
Investment Securities, Available-for-Sale			191,894			190,617			191,232			180,760			171,019
Loans, Net of Unearned Interest
Commercial, Financial, & Agricultural			229,327			218,442			220,345			223,310			232,294
Real Estate - Construction			179,072			183,238			180,049			172,317			160,914
Real Estate - Commercial			643,885			647,302			672,881			679,948			704,881
Real Estate - Residential			524,301			529,087			536,346			543,373			531,653
Real Estate - Home Equity			173,597			174,577			171,835			163,189			165,336
Consumer			234,596			237,069			238,381			240,921			242,481
Credit Card			-			-			-			-			-
Other Loans			11,837			14,521			29,784			26,951			26,346
Overdrafts			3,106			5,223			3,239			4,647			3,589
Total Loans, Net of Unearned Interest			1,999,721			2,009,459			2,052,860			2,054,656			2,067,494
Allowance for Loan Losses			(17,217	)		(17,311	)		(17,264	)		(17,279	)		(17,410	)
Loans, Net			1,982,504			1,992,148			2,035,596			2,037,377			2,050,084
Premises and Equipment, Net			86,538			84,915			81,407			76,693			73,818
Intangible Assets			104,402			105,886			107,422			108,958			110,451
Other Assets			55,008			48,895			52,541			55,841			53,731
Total Other Assets			245,948			239,696			241,370			241,492			238,000
Total Assets		$	2,597,910			2,558,873			2,697,486			2,674,719			2,625,462
LIABILITIES
Deposits:
Noninterest Bearing Deposits		$	490,014			506,331			572,549			562,140			559,492
NOW Accounts			599,433			533,549			555,350			518,024			520,878
Money Market Accounts			384,568			387,906			377,958			369,416			331,094
Regular Savings Accounts			125,500			129,884			135,330			137,780			144,296
Certificates of Deposit			482,139			491,569			512,672			521,796			523,586
Total Deposits			2,081,654			2,049,239			2,153,859			2,109,156			2,079,346
Short-Term Borrowings			65,023			54,171			77,571			89,105			82,973
Subordinated Notes Payable			62,887			62,887			62,887			62,887			62,887
Other Long-Term Borrowings			43,083			43,701			63,022			68,764			69,630
Other Liabilities			29,493			29,833			28,403			33,744			24,850
Total Liabilities			2,282,140			2,239,831			2,385,742			2,363,656			2,319,686
SHAREOWNERS' EQUITY
Common Stock			185			185			185			187			186
Additional Paid-In Capital			80,654			80,938			80,272			84,291			83,304
Retained Earnings			243,242			238,870			233,201			227,920			223,532
Accumulated Other Comprehensive Loss, Net of Tax			(8,311	)		(951	)		(1,914	)		(1,335	)		(1,246	)
Total Shareowners' Equity			315,770			319,042			311,744			311,063			305,776
Total Liabilities and Shareowners' Equity		$	2,597,910			2,558,873			2,697,486			2,674,719			2,625,462
OTHER BALANCE SHEET DATA
Earning Assets		$	2,270,410			2,235,707			2,370,302			2,346,020			2,299,677
Intangible Assets
Goodwill			84,811			84,811			84,811			84,811			84,828
Deposit Base			18,221			19,632			21,042			22,453			23,864
Other			1,370			1,443			1,569			1,694			1,759
Interest Bearing Liabilities			1,762,633			1,703,667			1,784,790			1,767,772			1,735,344
Book Value Per Diluted Share		$	17.01			17.18			16.81			16.65			16.39
Tangible Book Value Per Diluted Share			11.39			11.48			11.01			10.82			10.47
									18,530
Actual Basic Shares Outstanding			18,518			18,532			18,530			18,667			18,632
Actual Diluted Shares Outstanding			18,562			18,567			18,550			18,680			18,662

CAPITAL CITY BANK GROUP, INC.
ALLOWANCE FOR LOAN LOSSES
AND NONPERFORMING ASSETS
Unaudited
	2006											2005
		Fourth			Third			Second		First		Fourth
(Dollars in thousands)		Quarter			Quarter			Quarter		Quarter		Quarter
ALLOWANCE FOR LOAN LOSSES
Balance at Beginning of Period		$	17,311			17,264			17,279		17,410		17,424
Provision for Loan Losses			460			711			121		667		1,333
Net Charge-Offs			554			664			136		798		1,347
Balance at End of Period		$	17,217			17,311			17,264		17,279		17,410
As a % of Loans			0.86	%		0.86	%		0.84		0.84		0.84
As a % of Nonperforming Loans			214.09			269.35			325.80		330.70		331.11
As a % of Nonperforming Assets			197.19			253.79			299.72		298.27		313.69
CHARGE-OFFS
Commercial, Financial and Agricultural		$	81			294			144		322		745
Real Estate - Construction			-			-			-		-		-
Real Estate - Commercial			54			-			-		291		245
Real Estate - Residential			154			81			23		22		145
Consumer			787			690			448		591		575
Total Charge-Offs		$	1,076			1,065			615		1,226		1,710
RECOVERIES
Commercial, Financial and Agricultural		$	77			43			63		62		30
Real Estate - Construction			-			-			-		-		-
Real Estate - Commercial			9			4			2		3		1
Real Estate - Residential			1			2			2		7		1
Consumer			435			352			412		356		331
Total Recoveries		$	522			401			479		428		363
NET CHARGE-OFFS		$	554			664			136		798		1,347
Net Charge-Offs as a % of Average Loans (1)			0.11	%		0.13	%		0.03		0.16		0.26
RISK ELEMENT ASSETS
Nonaccruing Loans		$	8,042			6,427			5,299		5,225		5,258
Restructured			-			-			-		-		-
Total Nonperforming Loans			8,042			6,427			5,299		5,225		5,258
Other Real Estate			689			394			461		568		292
Total Nonperforming Assets		$	8,731			6,821			5,760		5,793		5,550
Past Due Loans 90 Days or More		$	135			300			205		367		309
Nonperforming Loans as a % of Loans			0.40	%		0.32	%		0.26		0.25		0.25
Nonperforming Assets as a % of
Loans and Other Real Estate			0.44			0.34			0.28		0.28		0.27
Nonperforming Assets as a % of Capital (2)			2.62			2.03			1.75		1.76		1.72
(1) Annualized
(2) Capital includes allowance for loan losses.

AVERAGE BALANCE AND INTEREST RATES (1)
Unaudited
	Fourth Quarter 2006								Third Quarter 2006							Second Quarter 2006							First Quarter 2006								Fourth Quarter 2005							Twelve Months Ended December 31, 2006								Twelve Months Ended December 31, 2005
	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, Net of Unearned Interest	$	2,003,719		$	40,296		7.98	%		2,025,112			40,433		7.92		2,040,656			39,059		7.68	$	2,048,642		$	37,439		7.41	%		2,062,775			37,112		7.14	$	2,029,397		$	157,227		7.75	%		1,968,289			133,665		6.79
Investment Securities
Taxable Investment Securities		108,041			1,263		4.66			109,097			1,264		4.60		114,521			1,233		4.30		118,055			1,091		3.70			128,478			1,025		3.18		112,392			4,851		4.31			142,406			4,250		2.98
Tax-Exempt Investment Securities		82,568			1,020		4.94			81,409			999		4.90		74,862			895		4.78		59,368			674		4.54			55,481			632		4.55		74,634			3,588		4.81			49,252			2,369		4.81
Total Investment Securities		190,609			2,283		4.78			190,506			2,263		4.73		189,383			2,128		4.49		177,423			1,765		3.98			183,959			1,657		3.60		187,026			8,439		4.51			191,658			6,619		3.45
Funds Sold		43,738			576		5.15			25,540			338		5.19		48,778			586		4.75		49,602			539		4.36			32,276			353		4.28		41,854			2,039		4.81			27,725			991		3.53
Total Earning Assets		2,238,066		$	43,155		7.65	%		2,241,158			43,034		7.62		2,278,817			41,773		7.35		2,275,667		$	39,743		7.08	%		2,279,010			39,122		6.81		2,258,277		$	167,705		7.42	%		2,187,672			141,275		6.46
Cash and Due From Banks		94,449								96,969							99,830							109,907								114,650							100,237								105,787
Allowance For Loan Losses		(17,503	)							(17,420	)						(17,443	)						(17,582	)							(17,568	)						(17,486	)							(17,081	)
Other Assets		242,345								239,448							241,886							236,466								231,505							240,050								210,355
Total Assets	$	2,557,357								2,560,155							2,603,090						$	2,604,458								2,607,597						$	2,581,078								2,486,733
LIABILITIES:
Interest Bearing Deposits
NOW Accounts	$	542,751		$	2,522		1.84	%		511,299			2,026		1.57		510,088			1,664		1.31	$	510,270			1,446		1.15	%		483,780			1,088		0.89	$	518,671		$	7,658		1.48	%		430,601			2,868		0.67
Money Market Accounts		391,346			3,488		3.54			381,628			3,259		3.39		363,754			2,642		2.91		343,652			2,298		2.71			307,971			1,820		2.34		370,257			11,687		3.16			275,830			4,337		1.57
Savings Accounts		128,027			76		0.24			132,421			73		0.22		136,168			67		0.20		139,664			62		0.18			149,431			67		0.18		134,033			278		0.21			152,890			292		0.19
Time Deposits		484,807			4,744		3.88			504,121			4,627		3.64		518,679			4,343		3.36		521,966			3,916		3.04			539,695			3,752		2.76		507,283			17,630		3.48			550,821			13,637		2.48
Total Interest Bearing Deposits		1,546,931			10,830		2.78			1,529,469			9,985		2.59		1,528,689			8,716		2.29		1,515,552			7,722		2.07			1,480,877			6,727		1.80		1,530,244			37,253		2.43			1,410,142			21,134		1.50
Short-Term Borrowings		65,385			722		4.36			73,078			753		4.07		82,846			776		3.75		93,867			824		3.55			113,600			979		3.42		78,700			3,075		3.89			97,863			2,854		2.92
Subordinated Notes Payable		62,887			936		5.91			62,887			936		5.91		62,887			926		5.91		62,887			926		5.97			62,887			942		5.94		62,887			3,724		5.92			50,717			2,981		5.88
Other Long-Term Borrowings		43,453			515		4.71			52,367			615		4.66		63,597			764		4.82		69,966			810		4.70			71,224			822		4.58		57,260			2,704		4.72			70,216			3,094		4.41
Total Interest Bearing Liabilities		1,718,656		$	13,003		3.00	%		1,717,801			12,289		2.84		1,738,019			11,182		2.58		1,742,272		$	10,282		2.39	%		1,728,588			9,470		2.17		1,729,091		$	46,756		2.70	%		1,628,938			30,063		1.85
Noninterest Bearing Deposits		481,522								494,054							519,066							524,696								543,140							504,687								544,746
Other Liabilities		33,276								30,259							30,211							26,029								29,661							29,964								26,337
Total Liabilities		2,233,454								2,242,114							2,287,296							2,292,997								2,301,389							2,263,742								2,200,021
SHAREOWNERS' EQUITY:	$	323,903								318,041							315,794						$	311,461								306,208						$	317,336								286,712
Total Liabilities and Shareowners' Equity	$	2,557,357								2,560,155							2,603,090						$	2,604,458								2,607,597						$	2,581,078								2,486,733
Interest Rate Spread				$	30,152		4.65	%					30,745		4.78					30,591		4.77				$	29,461		4.69	%					29,652		4.64				$	120,949		4.72	%					111,212		4.61
Interest Income and Rate Earned (2)				$	43,155		7.65						43,034		7.62					41,773		7.35				$	39,743		7.08						39,122		6.81				$	167,705		7.42						141,275		6.46
Interest Expense and Rate Paid (2)					13,003		2.30						12,289		2.17					11,182		1.97					10,282		1.83						9,470		1.65					46,756		2.07						30,063		1.37
Net Interest Margin				$	30,152		5.35	%					30,745		5.45					30,591		5.38				$	29,461		5.25	%					29,652		5.16				$	120,949		5.35	%					111,212		5.09