Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 25, 2022 | Jun. 30, 2021 | |
Document And Entity Information | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Transition Report | false | ||
Commission file number | 0-13358 | ||
Entity Registrant Name | Capital City Bank Group, Inc. | ||
Entity's state or country of incorporation | FL | ||
Employer Identification Number | 59-2273542 | ||
Entity Address Address Line1 | 217 North Monroe Street | ||
Entity Address City Or Town | Tallahassee | ||
Entity Address State Or Province | FL | ||
Entity Address Postal Zip Code | 32301 | ||
City area code | 850 | ||
Local phone number | 402-7821 | ||
Title of 12(b) Security | Common Stock, $0.01 par value | ||
Trading Symbol | CCBG | ||
Name of the Exchange | NASDAQ | ||
Entity a Well-known Seasoned Issuer | No | ||
Entity's Reporting Status Current | Yes | ||
Entity Interactive Data Current | Yes | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 332,551,460 | ||
Entity Common Stock, Shares Outstanding | 16,941,721 | ||
Documents incorporated by reference | DOCUMENTS INCORPORATED BY REFERENCE Portions of our Proxy Statement for the Annual Meeting of Shareowners to be held on April 26, 2022, are incorporated by reference in Part III. | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Amendment Flag | false | ||
Entity a Voluntary Filer | No | ||
Entity Central Index Key | 0000726601 | ||
Icfr Auditor Attestation Flag | true | ||
Auditor | 686 | ||
Auditor name | BKD, LLP | ||
Auditor location | Little Rock, Arkansas |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and Due From Banks | $ 65,313 | $ 67,919 |
Federal Funds Sold and Interest Bearing Deposits | 970,041 | 860,630 |
Total Cash and Cash Equivalents | 1,035,354 | 928,549 |
Investment Securities, Available for Sale, at fair value (amortized cost of $660,732 and $321,191) | 654,611 | 324,870 |
Investment Securities, Held to Maturity (fair value of $339,699 and $175,175) | 339,601 | 169,939 |
Equity Securities | 861 | 0 |
Total Investment Securities | 995,073 | 494,809 |
Loans Held For Sale, at fair value | 52,532 | 114,039 |
Loans Held for Investment | 1,931,465 | 2,006,426 |
Allowance for Credit Losses | (21,606) | (23,816) |
Loans Held for Investment, Net | 1,909,859 | 1,982,610 |
Premises and Equipment, Net | 83,412 | 86,791 |
Goodwill and Other Intangibles | 93,253 | 89,095 |
Other Real Estate Owned | 17 | 808 |
Other Assets | 94,349 | 101,370 |
Total Assets | 4,263,849 | 3,798,071 |
Deposits [Abstract] | ||
Noninterest Bearing Deposits | 1,668,912 | 1,328,809 |
Interest Bearing Deposits | 2,043,950 | 1,888,751 |
Total Deposits | 3,712,862 | 3,217,560 |
Short-Term Borrowings | 34,557 | 79,654 |
Subordinated Notes Payable | 52,887 | 52,887 |
Other Long-Term Borrowings | 884 | 3,057 |
Other Liabilities | 67,735 | 102,076 |
Total Liabilities | 3,868,925 | 3,455,234 |
Temporary Equity | 11,758 | 22,000 |
SHAREOWNERS' EQUITY | ||
Preferred Stock, $.01 par value; 3,000,000 shares authorized; no shares issued and outstanding | ||
Common Stock, $.01 par value; 90,000,000 shares authorized;16,892,060 and 16,790,573 shares issued and outstanding at December 31, 2021 and 2020, respectively | 169 | 168 |
Additional Paid-In Capital | 34,423 | 32,283 |
Retained Earnings | 364,788 | 332,528 |
Accumulated Other Comprehensive Loss, Net of Tax | (16,214) | (44,142) |
Total Shareowners' Equity | 383,166 | 320,837 |
Total Liabilities, Temporary Equity, and Shareowners' Equity | $ 4,263,849 | $ 3,798,071 |
CONSOLIDATED STATEMENTS OF FI_2
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Amortized Cost | $ 660,732 | $ 321,191 |
Investment securities, held to maturity, fair value | $ 339,699 | $ 175,175 |
Preferred Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred Stock, authorized | 3,000,000 | 3,000,000 |
Preferred Stock, issued | 0 | 0 |
Preferred Stock, outstanding | 0 | 0 |
Common Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, authorized | 90,000,000 | 90,000,000 |
Common Stock, issued | 16,892,060 | 16,790,573 |
Common Stock, outstanding | 16,892,060 | 16,790,573 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
INTEREST INCOME | |||
Loans, including Fees | $ 96,561 | $ 94,752 | $ 94,215 |
Investment Securities: | |||
Taxable | 8,724 | 10,176 | 13,122 |
Tax Exempt | 68 | 98 | 312 |
Federal Funds Sold and Interest Bearing Deposits | 998 | 1,171 | 5,187 |
Total Interest Income | 106,351 | 106,197 | 112,836 |
INTEREST EXPENSE | |||
Deposits | 839 | 1,548 | 6,840 |
Short-Term Borrowings | 1,360 | 1,690 | 109 |
Subordinated Notes Payable | 1,228 | 1,472 | 2,287 |
Other Long-Term Borrowings | 63 | 161 | 257 |
Total Interest Expense | 3,490 | 4,871 | 9,493 |
NET INTEREST INCOME | 102,861 | 101,326 | 103,343 |
Provision for Credit Losses | (1,553) | 9,645 | 2,027 |
Net Interest Income After Provision for Credit Losses | 104,414 | 91,681 | 101,316 |
NONINTEREST INCOME | |||
Other | 7,271 | 5,942 | 5,786 |
Total Noninterest Income | 107,545 | 111,165 | 53,053 |
NONINTEREST EXPENSE | |||
Compensation | 101,470 | 96,280 | 66,352 |
Occupancy, Net | 23,932 | 22,659 | 18,436 |
Other Real Estate Owned, Net | (1,488) | 104 | 546 |
Pension Settlement | 3,072 | 0 | 0 |
Other | 35,522 | 30,919 | 28,275 |
Total Noninterest Expense | 162,508 | 149,962 | 113,609 |
INCOME BEFORE INCOME TAXES | 49,451 | 52,884 | 40,760 |
Income Tax Benefit | 9,835 | 10,230 | 9,953 |
NET INCOME | 39,616 | 42,654 | 30,807 |
Pre-Tax Income Attributable to Noncontrolling Interests | (6,220) | (11,078) | 0 |
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ 33,396 | $ 31,576 | $ 30,807 |
BASIC NET INCOME PER SHARE (in dollars per share) | $ 1.98 | $ 1.88 | $ 1.84 |
DILUTED NET INCOME PER SHARE (in dollars per share) | $ 1.98 | $ 1.88 | $ 1.83 |
Average Basic Common Shares Outstanding (in shares) | 16,863 | 16,785 | 16,770 |
Average Diluted Common Shares Outstanding (in shares) | 16,893 | 16,822 | 16,827 |
Deposit fees [Member] | |||
NONINTEREST INCOME | |||
Revenue, fees and commissions | $ 18,882 | $ 17,800 | $ 19,472 |
Bank card fees [Member] | |||
NONINTEREST INCOME | |||
Revenue, fees and commissions | 15,274 | 13,044 | 11,994 |
Wealth managment fees [Member] | |||
NONINTEREST INCOME | |||
Revenue, fees and commissions | 13,693 | 11,035 | 10,480 |
Mortgage Banking Revenues [Member] | |||
NONINTEREST INCOME | |||
Revenue, fees and commissions | $ 52,425 | $ 63,344 | $ 5,321 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Statement [Abstract] | |||
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ 33,396 | $ 31,576 | $ 30,807 |
Investment Securities: | |||
Change in net unrealized (loss) gain on securities available for sale | (9,647) | 2,473 | 3,833 |
Change in net unrealized gain on effective cash flow derivative | 1,476 | 574 | 0 |
Benefit Plans: | |||
Reclassification adjustment for amortization of prior service cost | 234 | (880) | 15 |
Reclassification adjustment for amortization of net loss | 10,806 | 4,391 | 4,623 |
Defined benefit plan settlement | 3,072 | 0 | 0 |
Current year actuarial gain (loss) | 31,339 | (27,924) | (7,642) |
Total Benefit Plans | 45,451 | (24,413) | (3,004) |
Other comprehensive income (loss), before tax: | 37,280 | (21,366) | 829 |
Deferred tax (expense) benefit related to other comprehensive income | (9,352) | 5,405 | (195) |
Other comprehensive income (loss), net of tax | 27,928 | (15,961) | 634 |
TOTAL COMPREHENSIVE INCOME | $ 61,324 | $ 15,615 | $ 31,441 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREOWNERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) Income [Member] | |
Balance beginning at Dec. 31, 2018 | $ 302,587 | $ 167 | $ 31,058 | $ 300,177 | $ (28,815) | |
Balance beginning (in shares) at Dec. 31, 2018 | 16,747,571 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | $ 30,807 | 0 | 0 | 30,807 | 0 | |
Other Comprehensive (Income) Loss, Net of Tax | 634 | 0 | 0 | 0 | 634 | |
Cash Dividends $0.62,$0.57, $0.48, per share for years 2021, 2020 and 2019 respectively | (8,047) | 0 | 0 | (8,047) | 0 | |
Stock Based Compensation | 1,569 | 0 | 1,569 | 0 | 0 | |
Stock Compensation Plan Transactions, net | $ 1,271 | $ 1 | 1,270 | 0 | 0 | |
Stock Compensation Plan Transactions, net (in shares) | 100,973 | 100,973 | ||||
Repurchase of Common Stock | $ (1,805) | $ 0 | (1,805) | 0 | 0 | |
Repurchase of Common Stock (in shares) | (77,000) | (77,000) | ||||
Balance ending at Dec. 31, 2019 | $ 327,016 | $ 168 | 32,092 | 322,937 | (28,181) | |
Balance ending (Adoption of ASC 326 [Member]) at Dec. 31, 2019 | $ (3,095) | 0 | 0 | (3,095) | 0 | |
Balance ending (in shares) at Dec. 31, 2019 | 16,771,544 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | $ 31,576 | 0 | 0 | 31,576 | 0 | |
Reclassification to Temporary Equity | [1] | (9,323) | 0 | 0 | (9,323) | 0 |
Other Comprehensive (Income) Loss, Net of Tax | (15,961) | 0 | 0 | 0 | (15,961) | |
Cash Dividends $0.62,$0.57, $0.48, per share for years 2021, 2020 and 2019 respectively | (9,567) | 0 | 0 | (9,567) | 0 | |
Stock Based Compensation | 892 | 0 | 892 | 0 | 0 | |
Stock Compensation Plan Transactions, net | $ 1,341 | $ 1 | 1,340 | 0 | 0 | |
Stock Compensation Plan Transactions, net (in shares) | 118,981 | 118,981 | ||||
Repurchase of Common Stock | $ (2,042) | $ (1) | (2,041) | 0 | 0 | |
Repurchase of Common Stock (in shares) | (99,952) | (99,952) | ||||
Balance ending at Dec. 31, 2020 | $ 320,837 | $ 168 | 32,283 | 332,528 | (44,142) | |
Balance ending (in shares) at Dec. 31, 2020 | 16,790,573 | 16,790,573 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | $ 33,396 | $ 0 | 0 | 33,396 | 0 | |
Reclassification to Temporary Equity | [1] | 9,323 | 0 | 0 | 9,323 | 0 |
Other Comprehensive (Income) Loss, Net of Tax | 27,928 | 0 | 0 | 0 | 27,928 | |
Cash Dividends $0.62,$0.57, $0.48, per share for years 2021, 2020 and 2019 respectively | (10,459) | 0 | 0 | (10,459) | 0 | |
Stock Based Compensation | 843 | 0 | 843 | 0 | 0 | |
Stock Compensation Plan Transactions, net | $ 1,298 | $ 1 | 1,297 | 0 | 0 | |
Stock Compensation Plan Transactions, net (in shares) | 101,487 | 101,487 | ||||
Repurchase of Common Stock | $ 0 | $ 0 | 0 | 0 | 0 | |
Repurchase of Common Stock (in shares) | 0 | 0 | ||||
Balance ending at Dec. 31, 2021 | $ 383,166 | $ 169 | $ 34,423 | $ 364,788 | $ (16,214) | |
Balance ending (in shares) at Dec. 31, 2021 | 16,892,060 | 16,892,060 | ||||
[1] | Adjustments to redemption value for non-controlling interest in CCHL |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREOWNERS' EQUITY (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of Stockholders' Equity [Abstract] | |||
Cash Dividends (in dollars per share) | $ 0.62 | $ 0.57 | $ 0.48 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net Income | $ 33,396 | $ 31,576 | $ 30,807 |
Adjustments to Reconcile Net Income to Cash From Operating Activities: | |||
Provision for Credit Losses | (1,553) | 9,645 | 2,027 |
Depreciation | 7,607 | 7,230 | 6,253 |
Amortization of Premiums, Discounts, and Fees, net | 14,072 | 7,533 | 5,206 |
Amortization of Intangible Assets | 107 | 0 | 0 |
Pension Settlement Charges | 3,072 | 0 | 0 |
Originations of Loans Held for Sale | (1,541,356) | (606,337) | (232,259) |
Proceeds From Sales of Loans Held-for-Sale | 1,655,288 | 565,151 | 234,940 |
Net Gain From Sales of Loans Held-for-Sale | (52,425) | (63,344) | (5,321) |
Net Additions for Capitalized Mortgage Servicing Rights | 72 | (2,792) | 0 |
Change in Valuation Provision for Mortgage Servicing Rights | (250) | 250 | 0 |
Stock Compensation | 843 | 892 | 1,569 |
Net Tax Benefit from Stock Compensation | (4) | (84) | (14) |
Deferred Income Taxes | (4,157) | (53) | 1,225 |
Net Change in Operating Leases | (165) | (156) | 90 |
Net (Gain) Loss on Sales and Write-Downs of Other Real Estate | (1,662) | (393) | 214 |
Proceeds From Insurance Claim for Operating Loss | 0 | 0 | 268 |
Loss on Disposal of Premises and Equipment | 0 | 0 | 30 |
Net Decrease (Increase) in Other Assets | 10,885 | (38,353) | 9,830 |
Net Increase (Decrease) in Other Liabilities | (7,846) | 40,624 | (1,176) |
Net Cash Provided By (Used In) Operating Activities | 115,924 | (48,611) | 53,689 |
Securities Held to Maturity: | |||
Purchases | (251,525) | (32,250) | (92,186) |
Payments, Maturities, and Calls | 78,544 | 99,251 | 68,185 |
Securities Available for Sale: | |||
Purchases | (523,961) | (108,728) | (119,685) |
Proceeds from the Sale of Securities | 495 | 0 | 0 |
Payments, Maturities, and Calls | 178,425 | 186,499 | 162,260 |
Purchases of Loans Held for Investment | (114,913) | (43,804) | (25,256) |
Net Decrease (Increase) in Loans | 183,249 | (130,020) | (39,608) |
Net Cash Paid for Acquisition | (4,482) | (2,405) | 0 |
Proceeds From Insurance Claims on Premises | 0 | 0 | 814 |
Proceeds From Sales of Other Real Estate Owned | 4,502 | 2,835 | 2,360 |
Purchases of Premises and Equipment, net | (5,193) | (9,738) | (3,759) |
Noncontrolling Interest Contributions | 7,139 | 5,766 | 0 |
Net Cash Used In Investing Activities | (447,720) | (32,594) | (46,875) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net Increase in Deposits | 495,302 | 572,106 | 113,598 |
Net (Decrease) Increase in Short-Term Borrowings | (45,938) | 73,156 | (7,497) |
Repayment of Other Long-Term Borrowings | (1,332) | (3,363) | (1,694) |
Dividends Paid | (10,459) | (9,567) | (8,047) |
Payments to Repurchase Common Stock | 0 | (2,042) | (1,805) |
Issuance of Common Stock Under Compensation Plans | 1,028 | 1,041 | 1,054 |
Net Cash Provided By Financing Activities | 438,601 | 631,331 | 95,609 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 106,805 | 550,126 | 102,423 |
Cash and Cash Equivalents at Beginning of Year | 928,549 | 378,423 | 276,000 |
Cash and Cash Equivalents at End of Year | 1,035,354 | 928,549 | 378,423 |
Supplemental Cash Flow Disclosures: | |||
Interest Paid | 3,547 | 4,841 | 9,521 |
Income Taxes Paid | 16,339 | 9,171 | 6,255 |
Noncash Investing and Financing Activities: | |||
Loans and Premises Transferred to Other Real Estate Owned | $ 1,717 | $ 2,297 | $ 1,298 |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2021 | |
Significant accounting policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | Note 1 SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Capital City Bank Group, Inc. (“CCBG”) provides a full range of banking corporate clients through its subsidiary, Company is subject to competition from other financial institutions, is subject to regulation undergoes periodic examinations by those regulatory Basis of Presentation The consolidated financial statements include the accounts of CCBG and or the “Bank” and together with CCBG, the “Company”). eliminated in consolidation. The Company, which Florida, Georgia, and Alabama, follows accounting principles generally practices applicable to the banking industry. and cash flows are summarized below. The Company determines whether it has a controlling financial interest in an voting interest entity or a variable interest entity under accounting principles Voting independently and provide the equity holders with the obligation to absorb losses, the right to make decisions about the entity’s least a majority of, the voting interest. entities that lack one or more of the characteristics of a voting interest entity. present when an enterprise has a variable interest, or a combination of variable expected losses, receive a majority of the entity’s interest, known as the primary beneficiary, Trust I (established November 1, 2004) and is not the primary beneficiary. financial statements. Certain previously reported amounts have been reclassified to conform evaluated subsequent events for potential recognition and/or disclosure included in this Annual Report on Form 10-K were filed with the Use of Estimates The preparation of financial statements in conformity with accounting America requires management to make estimates and assumptions that affect disclosure of contingent assets and liabilities at the date of financial statements and expenses during the reporting period. susceptible to significant changes in the near-term income taxes, loss contingencies, valuation of other real estate owned, and impairment. Business Combination On April 30, 2021, a newly formed subsidiary of CCBG, Capital City Strategic Wealth, of the assets of Strategic Wealth carrier agreements, and the assignment of all related revenues thereof. principles became officers of CCSW and will continue the operation management services and comprehensive risk management and CCBG paid $ 4.5 2.8 1.6 million. On March 1, 2020, CCB completed its acquisition of a 51 % membership interest in Brand Mortgage Group, LLC (“Brand”), which is now operated as Capital City Home Loans (“CCHL”). effective March 1, 2020. 52 totaled $ 42 alliance with Brand was to gain access to an expanded residential mortgage product mandatory delivery channel for loan sales), to hedge our net interest income and cost savings. 7.1 51 % membership interest and entered into a buyout agreement for the remaining 49 % noncontrolling interest resulting in temporary equity with a fair value of $ 7.4 $ 4.3 include Brand’s strong management synergies created as part of the strategic alliance. Recently Adopted Accounting Pronouncements On January 1, 2020, the Company adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic Credit Losses on Financial Instruments , which replaces the incurred loss methodology with an expected referred to as the current expected credit loss (“CECL”) methodology. CECL methodology is applicable to financial assets measured at debt securities. letters of credit, financial guarantees, and other 326-30 provides a new credit loss model for available-for-sale to be presented as an allowance rather than as a write-down on available-for to sell or believes that it is not more likely than not they will be required to modified retrospective method for all financial assets measured at amortized accounting policies changed significantly with the adoption of were based on incurred credit losses in accordance with accounting policies Statements included in the 2019 Form 10-K. 4.0 3.3 increase in the allowance for credit losses and $ 0.7 account)) that was offset by a corresponding decrease in 3.1 0.9 tax assets. in the 2020 Form 10-K for additional information regarding the impact The Company also adopted ASU 2019-12 “ Income Taxes 2020-01 “ Investments – Equity Securities (Topic ASU 2020-08 “ Codification Improvements to Subtopic 310-20, Receivables and ASU 2020- 09 “ Debt (Topic with no material impact on its financial statements. Cash and Cash Equivalents Cash and cash equivalents include cash and due from banks, interest-bearing sold. Generally, days or less. percentage of deposits. zero . The Company maintains certain cash balances that are restricted under agreements. 0.5 Investment Securities Investment securities are classified as held-to-maturity (“HTM”) and intent and ability to hold them until maturity. classified as available-for-sale (“AFS”) and carried at fair value. have readily determinable fair values, are measured at cost and remeasured transaction prices. risk management purposes, we further segment investment securities by profile: U.S. government treasury, corporate debt securities. Federal Home Loan Bank, are classified as available-for-sale and carried Interest income includes amortization and accretion of purchase premiums from the amortized cost of the security sold. determined using the specific identification method. recorded at amortized cost plus or minus any unrealized gain or loss at the time loss continues to be reported in accumulated other comprehensive income income over the remaining life of the security. Subsequent to transfer, the allowance policy for held-to-maturity securities. presented on a gross basis in the consolidated statement of income. The accrual of interest is generally suspended on securities more than a security is placed on nonaccrual status, all previously accrued and uncollected interest thus not included in the estimate of credit losses. Credit losses and changes thereto, are established as an allowance for Losses are charged against the allowance when management either of the criteria regarding intent or requirement to sell is met. Certain debt securities in the Company’s explicitly or implicitly guaranteed by the U.S. government. securities indicates that the expectation of nonpayment of the amortized technically default. government guaranteed treasuries. credit losses due to the zero loss assumption. Impairment - Available . Unrealized gains on available-for-sale securities are excluded from income. sell, or whether it is more likely than not it will be required to sell the security before either of the criteria regarding intent or requirement to sell is met, the security’s through income. Company evaluates whether the decline in fair value has resulted from management considers the extent to which fair value is less than amortized rating agency, and credit loss exists, the present value of cash flows to be collected from the security security. an allowance for credit losses is recorded through a provision for than the amortized cost basis. Allowance for Credit Losses - Held-to-Maturity Management measures expected credit losses on each individual held-to-maturity debt a zero assumption. value, or the difference between the discounted recorded amortized basis of the security. through a provision for credit loss expense. Loans Held for Investment Loans held for investment (“HFI”) are stated at amortized cost which includes and discounts, and net deferred loan fees and costs. included in the amortized cost basis of loans. principal balances and includes loan late fees. amortized over the life of the loan as a yield adjustment. The Company defines loans as past due when one full payment is past due or accrual of interest is generally suspended on loans more than 90 days past placed on nonaccrual status, all previously accrued and uncollected election has been made to not include in the estimate of credit losses. ultimate collectability is no longer considered doubtful. amounts contractually due are brought current or when future payments Loan charge-offs on commercial and loan confirm the loan is not fully collectible and the loss is reasonably quantifiable. determinations are the borrower’s and any guarantor’s (if applicable), and collateral value. Examination Council’s (FFIEC) standards for the classification and treatment of consumer loans, which delinquency. The Company has adopted comprehensive lending policies, underwritin maximize loan income within an acceptable level of risk. concentrations, loan delinquencies, nonperforming and potential problem review of loan portfolio quality and trends by Management and the Credit estimating the allowance for credit losses. Allowance for Credit Losses The allowance for credit losses is a valuation account that is deducted from amount expected to be collected on the loans. reported in earnings, and reduced by the charge-off allowance when management believes the uncollectability of a loan aggregate of amounts previously charged-off off-balance sheet credit exposures is accounted for as a separate liability Management past events, current conditions, and reasonable and supportable forecasts. starting basis for the estimation of expected credit losses. view of current conditions and forecasts. The methodology for estimating the amount of credit losses reported in first, an asset-specific component involving loans that do not share risk losses for such individual loans; and second, a pooled component for risk characteristics. Loans That Do Not Share Risk Characteristics (Individually Loans that do not share similar risk characteristics are evaluated on an individual have differing risk characteristics and are individually dependent when the borrower is experiencing financial difficulty sale of the underlying collateral. measured based on the difference between the fair asset. by ASC 326-20 to measure the expected credit loss under the same approach as those loans with balances greater than $ 250,000 underlying collateral. 250,000 , the Company has made a policy election to measure expected loss for these individual loans utilizing loss rates for similar loan types. collateral dependent troubled debt restructurings. Loans That Share Similar Risk Characteristics (Pooled The general steps in determining expected credit losses for the pooled ● Segment loans into pools according to similar risk characteristics ● Develop historical loss rates for each loan pool segment ● Incorporate the impact of forecasts ● Incorporate the impact of other qualitative factors ● Calculate and review pool specific allowance for credit loss estimate A discounted cash flow (“DCF”) methodology is utilized to calculate expected The discounted present value of expected cash flow is then compared to loss estimate. The primary inputs used to calculate expected cash flows include historical and loss given default (“LGD”), and prepayment rates. rate and is based on management’s assessment the Company’s risk rating process are reflect the historical average net loss rate by loan pool. prepayments which will vary by loan segment and interest rate conditions. prepayment rates occurring in the loan portfolio and consideration of forecasted In developing loss rates, adjustments are made to incorporate the impact applied, including the length of the forecast and reversion periods. able to make a reasonable and supportable assessment of future conditions. management believes it can develop a reasonable and supportable forecast, the use of historical default and loss rates. and reversion periods are periodically evaluated and based on management’s may vary by loan pool. utilizes established industry and economic data points and sources, the forecasted unemployment rate being a significant factor. on management’s assessment of Reversion period PD rates reflect the difference between adjustment over the reversion period. Loss rates are further adjusted to account for other risk factors that impact loan on management’s assessment of and external factors that are independent of and not reflected in the quantitative considers in this assessment include trends in underwriting standards, loan review systems, collateral valuations, concentrations, legal/regulatory/pol natural disasters. Allowance for Credit Losses on Off-Balance The Company estimates expected credit losses over the contractual period contractual obligation to extend credit, unless that obligation is unconditionally credit losses on off-balance sheet credit exposures is adjusted as a provision liabilities. on commitments expected to be funded over its estimated life and applies the outstanding loan balances by segment. the allowance for credit losses with similar risk characteristics that have Mortgage Banking Activities Mortgage Loans Held for Sale and Revenue Recognition Mortgage loans held for sale (“HFS”) are carried at fair value under the fair value mortgage banking revenues on the consolidated statements of investors is calculated using observable market information such mandatory delivery commitment prices. The Company bases loans mortgage backed security (MBS) prices. The fair value of mortgage quoted best execution secondary market prices. If no such quoted price a similar asset or assets, such as MBS prices, adjusted for the specific attributes of participants. Gains and losses from the sale of mortgage loans held for sale are recognized based proceeds and carrying value of the related loans upon sale and are recorded statements of income. Sales proceeds reflect the cash received from investors premium. If the related mortgage loan is sold servicing retained, the MSR addition the consolidated statements of income. the changes in the fair value of mortgage loans held for sale, and the realized instruments. Mortgage loans held for sale are considered sold when the Company surrenders considered to have been surrendered when the transferred assets have been Company and its creditors; the purchaser obtains the right (free of conditions to pledge or exchange the transferred assets; and the Company does not through either an agreement that both entitles and obligates the Company their maturity or the ability to unilaterally cause the holder to return specific criteria to have been met upon acceptance and receipt of sales proceeds Government National Mortgage Association (GNMA) optional repurchase individual delinquent mortgage loans that meet certain criteria from servicing. for an amount equal to 100 percent of the remaining principal balance of (“FASB”) ASC Topic delinquency criteria are met, at which time the option becomes unconditional. effective control over these loans under the unconditional buy-back be brought back onto the statement of financial condition, These loans are reported in other assets with the offsetting liability Derivative Instruments (IRLC/Forward Commitments) The Company holds and issues derivative financial instruments such as interest sale commitments. IRLCs are subject to price risk primarily related to rate risk on certain IRLCs, the Company uses forward sale commitments, mandatory delivery commitments with investors. Management fair value opposite to the changes in fair value of the also used to hedge the interest rate risk on mortgage loans held for sale that price risk. If the mandatory delivery commitments are not fulfilled, the commitments are also executed with investors, whereby certain loans to an investor at a fixed price. If the best effort IRLC does not fund, The Company considers various factors and strategies in determining held for sale to economically hedge. consolidated statements of financial condition at their fair value. Changes recognized in mortgage banking revenues on the consolidated losses resulting from the pairing-out of forward sale commitments are consolidated statements of income. The Company accounts for and does not designate any for hedge accounting. Mortgage Servicing Rights (“MSRs”) and Revenue Recognition The Company sells residential mortgage loans in the secondary market and sale, an MSR asset is capitalized, which represents the then current fair value of performing servicing activities. fair value measurement method, the Company follows the amortization (other income) in proportion to and over the period of estimated net servicing reporting date. value, and included in other assets, net, on the consolidated statements of financial The Company periodically evaluates its MSRs asset for impairment. date using estimated prepayment speeds of the underlying mortgage characteristics of the underlying loans (predominantly loan type and note prepayment speeds are usually faster and the value of the MSRs asset generally Conversely, as mortgage increases, requiring less valuation reserve. amortized cost of the MSRs exceeds the estimated fair value by stratification. temporary impairment no longer exists for a stratification, the valuation temporary impairment (i.e., recoverability is considered remote when recognized as a write-down of the MSRs asset and the related valuation allowance available) and then against earnings. valuation allowance, precluding subsequent recoveries. Derivative/Hedging Activities At the inception of a derivative contract, the Company designates the derivative intentions and belief as to the likely effectiveness as a hedge. These asset or liability or of an unrecognized firm commitment ("fair value variability of cash flows to be received or paid related to a recognized with no hedging designation ("standalone derivative"). For a fair value hedge, offsetting loss or gain on the hedged item, are recognized gain or loss on the derivative is reported in other comprehensive income during which the hedged transaction affects earnings. not highly effective in hedging the changes in fair value current earnings. Net cash settlements on derivatives that qualify for expense, based on the item being hedged. Net cash settlements on derivatives reported in non-interest income. Cash flows on hedges are classified in the cash flow items being hedged. The Company formally documents the relationship between derivatives objective and the strategy for undertaking hedge transactions at the inception includes linking fair value or cash flow hedges to specific assets and liabilities on specific firm commitments or forecasted transactions. The Company an ongoing basis, whether the derivative instruments that are used are flows of the hedged items. The Company discontinues hedge accounting effective in offsetting changes in the fair value forecasted transaction is no longer probable, a hedged firm commitment hedge is no longer appropriate or intended. When hedge accounting is discontinued, derivative are recorded as non-interest income. When a fair value hedge adjusted for changes in fair value and the existing basis adjustment is amortized liability. When a cash flow gains or losses that were accumulated in other comprehensive income the hedged transactions will affect earnings. Long-Lived Assets Premises and equipment is stated at cost less accumulated depreciation, useful lives for each type of asset with premises being depreciated over 10 40 depreciated over a range of 3 10 depreciated over the lesser of the useful life or the remaining lease term. expense as incurred. Long-lived assets are evaluated for impairment if circumstances suggest that comparing the carrying value to estimated undiscounted cash flows. recorded equal to the carrying value less the fair value. See Note 6 – Premises and Leases The Company has entered into various operating leases, primarily for terms from one to ten years. at the Company’s sole discretion. Certain of the lease contain early termination options. calculation of the operating right-of-use assets or operating lease liabilities. adjustments to rental payments for inflation. the present value of the lease payments not yet paid, discounted using incremental borrowing rate. incremental borrowing rate at the commencement date in determining borrowing rate is based on the term of the lease. that commenced prior to that date. the initial measurement of the lease liability; (ii) any lease payments any lease incentives received; and (iii) any initial direct costs incurred by the less are not recorded on the Statement of Financial Condition. straight-line basis over the lease term. additional information. Bank Owned Life Insurance (BOLI) The Company, through insurance is recorded at the amount that can be realized under the insurance which is the cash surrender value adjusted for other charges or Goodwill and Other Intangibles Goodwill represents the excess of the cost of businesses acquired over the fair with FASB ASC Topic annually during the fourth quarter or on an interim basis if an event occurs not reduce the fair value of the reporting unit below its carrying value. purchased as part of a business acquisition. circumstances indicate the carrying amount of the assets may not – Goodwill and Other Intangibles for additional information . Other Real Estate Owned Assets acquired through, or in lieu of, loan foreclosure are held for sale and are less estimated selling costs, establishing a new cost basis. management and the assets are carried at the lower of carrying amount or fair value assets is subjective in nature and may be adjusted in the future because of changes in economic expenses from operations and changes in value are included in noninterest Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary the likelihood of loss is probable and an amount or range of loss can be reasonably Contingencies for additional information. Noncontrolling Interest To the extent recognizes noncontrolling interests in subsidiaries. Combination), the noncontrolling interest represents equity which is redeemable holder and is classified within temporary equity in the mezzanine The call/put option is redeemable at the option of either CCBG (call) or the January 1, 2025, and therefore, not entirely within CCBG’s allocated to CCBG and the noncontrolling interest holder based on their relative interest carrying value is adjusted on a quarterly basis to the higher of Statement of Financial Condition date, through a corresponding adjustment calculated quarterly and is based on the higher of a predetermined book value redemption value exceeds the fair value of the noncontrolling interest, shareowners is adjusted by that amount. of the noncontrolling interest using: 1) the discounted cash flow methodology public company methodology under the market approach. each of the two methodologies. volumes; (2) projected pre-tax profit margins; (3) tax rates Income Taxes Income tax expense is the total of the current year income tax due or refundable liabilities (excluding deferred tax assets and liabilities related to business income). amounts and tax bases of assets and liabilities, computed using enacted tax deferred tax assets to the expected amount most likely to be realized. generation of a sufficient level of future taxable income and recoverable to settlements of share-based payment awards are reported in earnings as an The Company files a consolidated federal income tax return and a separate separate state income tax return. Earnings Per Common Share Basic earnings per common share is based on net income divided by the weighted during the period excluding non-vested stock. non-vested stock awards granted using the treasury stock method. calculating basic earnings per common share and the weighted average common share for the reported periods is provided in Note 16 — Earnings Comprehensive Income Comprehensive income includes all changes in shareowners’ equity shareowners. changes in the net unrealized gain/loss on securities available for sale and supplemental executive retirement plans. Comprehensive Income and Changes in Shareowners’ Equity. Stock Based Compensation Compensation cost is recognized for share-based awards issued to employees, of grant. price of the Company’s common a Black-Scholes model is utilized to estimate the fair value of the award. compensation expense is recognized as forfeitures occur. Revenue Recognition ASC 606, Revenue from Contracts with Customers ("ASC 606"), nature, amount, timing and uncertainty of revenue and cash flows arising to customers. The core principle requires an entity to recognize revenue an amount that reflects the consideration that it expects to be entitled to receive recognized as performance obligations are satisfied. The majority of the Company’s revenue financial instruments, such as our loans, letters of credit, and investment mortgages in the secondary market, as these activities are subject to other Company recognizes revenue from these activities as it is earned based are provided and collectability is reasonably assured. scope of ASC 606, which are presented in the accompanying statements follows: Deposit Fees - these represent general service fees for monthly account consist of transaction-based revenue, time-based revenue (service period), based revenue. account maintenance services or when a transaction has been completed. received at the time the performance obligations are satisfied. Wealth Management as consideration for managing the client’s services and similar fiduciary activities. Revenue is recognized when month or quarter, which is the time that payment dealer, for which the Company acts as an agent, referred to the third party. basis and recognized ratably throughout the quarter as the Company’s Bank Card Fees – bank card related fees primarily includes interchange cards. Interchange fees are set by the credit card associations and are based on cardholder interchange income as transactions occur. Gains and Losses from the Sale of Bank Owned Property – the performance typically will be the delivery of control over the property to the buyer. the transaction price is typically identified in the purchase and sale agreement. financing, the Company must determine a transaction price, depending account the credit risk inherent in the arrangement. Insurance Commissions – insurance commissions recorded by the contractual agreements to sell policies to customers on behalf of sell life and health insurance policies to customers. or when an existing policy renews. New policies and renewals generally have a one insurance carriers, a commission rate is agreed upon. The commission date) or when a policy renews. Other non-interest income primarily includes items such as mortgage loans held for sale), bank-owned life insurance, and safe deposit box fees, 606. The Company has made no significant judgments in applying the revenue determination of the amount and timing of revenue from the above-described Accounting Standard Updates ASU 2020-04, "Reference Rate Reform (Topic ASU 2020-04 provides optional expedients and exceptions for applying GAAP to loan and lease agreements, derivative contracts, and other LIBOR toward new interest rate benchmarks. For transactions that are certain scope guidance (i) modifications of loan agreements should interest rate and the modification will be considered "minor" so that any forward and continue to be amortized and (ii) modifications of lease agreements existing agreement with no reassessments of the lease classification that otherwise would be required for modifications not accounted for as separate optional expedients for derivative accounting. may elect to apply ASU 2020-04 for contract modifications as of January period that includes or is subsequent to March 12, 2020, up to the date Once elected for a Topic prospectively for all eligible contract modifications for that Topic any modifications executed between the selected start date (yet to be determined) to LIBOR transition by allowing prospective recognition of contract resulting in writing off unamortized fees/costs. The Company believes the adoption of this guidance will not have a material impact on its consolidated financial statements. Further, ASU 2021-01, “Reference Rate Reform (Topic clarifies that certain optional expedients and exceptions in ASC 848 for derivatives that are affected by the discounting transition. to capture the incremental consequences of the scope clarification and The Company believes the adoption of this guidance will not have a material |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 12 Months Ended |
Dec. 31, 2021 | |
Investments Securities [Abstract] | |
INVESTMENT SECURITIES | Note 2 INVESTMENT SECURITIES Investment Portfolio Composition . securities available-for-sale and securities held-to-maturity, allowance for credit losses. Available for Amortized Unrealized Unrealized Allowance for Fair (Dollars in Thousands) Cost Gains Losses Credit Losses Value December 31, 2021 U.S. Government Treasury $ 190,409 $ 65 $ 2,606 $ - $ 187,868 U.S. Government Agency 238,490 1,229 2,141 - 237,578 States and Political Subdivisions 47,762 44 811 (15) 46,980 Mortgage-Backed Securities 89,440 27 598 - 88,869 Corporate Debt Securities 87,537 10 1,304 (21) 86,222 Other Securities (1) 7,094 - - - 7,094 Total $ 660,732 $ 1,375 $ 7,460 $ (36) $ 654,611 December 31, 2020 U.S. Government Treasury $ 103,547 $ 972 $ - $ - $ 104,519 U.S. Government Agency 205,972 2,743 184 - 208,531 States and Political Subdivisions 3,543 89 - - 3,632 Mortgage-Backed Securities 456 59 - - 515 Other Securities (1) 7,673 - - - 7,673 Total $ 321,191 $ 3,863 $ 184 $ - $ 324,870 Held to Maturity Amortized Unrealized Unrealized Fair (Dollars in Thousands) Cost Gains Losses Value December 31, 2021 U.S. Government Treasury $ 115,499 $ - $ 1,622 $ 113,877 Mortgage-Backed Securities 224,102 2,819 1,099 225,822 Total $ 339,601 $ 2,819 $ 2,721 $ 339,699 December 31, 2020 U.S. Government Treasury $ 5,001 $ 13 $ - $ 5,014 Mortgage-Backed Securities 164,938 5,223 - 170,161 Total $ 169,939 $ 5,236 $ - $ 175,175 (1) Includes Federal Home Loan Bank and Federal Reserve Bank recorded 2.0 5.1 2.9 4.8 At December 31, 2021, the investment portfolio had $ 0.9 determinable fair value and were not credit impaired. comprised solely of residential mortgages. Securities with an amortized cost of $ 463.8 308.2 pledged to secure public deposits and for other purposes. At December 31, 2021 and 2020, there were no holdings of securities of any one agencies, in an amount greater than 10% of shareowners’ equity. The Bank, as a member of the Federal Home Loan Bank of Atlanta (“FHLB”), is required generally upon the balances of residential and commercial real estate loans, and in other securities is pledged to secure FHLB advances. however, redemption of this stock has historically As a member of the Federal Reserve Bank of Atlanta, the Bank is required to Atlanta based on a specified ratio relative to the Bank’s Investment Sales . There were no significant sales of investment securities for each of the Maturity Distribution . based on contractual maturity at December 31, 2021. borrowers may have the right to call or prepay obligations. agency securities are shown separately since they are not due at a certain maturity contractual maturity date. Available for Held to Maturity Amortized Fair Amortized Fair (Dollars in Thousands) Cost Value Cost Value Due in one year or less $ 40,322 $ 39,916 $ - $ - Due after one through five years 297,352 293,514 115,499 113,877 Due after five thru ten years 67,522 66,006 - - Mortgage-Backed Securities 89,440 88,869 224,102 225,822 U.S. Government Agency 159,002 159,212 - - Other Securities 7,094 7,094 - - Total $ 660,732 $ 654,611 $ 339,601 $ 339,699 Unrealized Losses . The following table summarizes the investment securities with unrealized by major security type and length of time in a continuous unrealized loss position: Less Than 12 Months Greater Than 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in Thousands) Value Losses Value Losses Value Losses December 31, 2021 Available for U.S. Government Treasury $ 172,206 $ 2,606 $ - $ - $ 172,206 $ 2,606 U.S. Government Agency 127,484 1,786 17,986 355 145,470 2,141 States and Political Subdivisions 42,122 811 - - 42,122 811 Mortgage-Backed Securities 81,832 598 - - 81,832 598 Corporate Debt Securities 69,354 1,304 - - 69,354 1,304 Total 492,998 7,105 17,986 355 510,984 7,460 Held to Maturity U.S. Government Treasury 113,877 1,622 - - 113,877 1,622 Mortgage-Backed Securities 115,015 1,099 - - 115,015 1,099 Total $ 228,892 $ 2,721 $ - $ - $ 228,892 $ 2,721 December 31, 2020 Available for U.S. Government Agency $ 28,266 $ 156 $ 4,670 $ 28 $ 32,936 $ 184 Total 28,266 156 4,670 28 32,936 184 At December 31, 2021, there were 401 10.2 million. 47 0.2 59 of these positions were U.S. government treasury securities guaranteed 234 government agency and mortgage-backed securities issued by U.S. of these securities are attributable to changes in interest rates and not credit 44 and 64 interest rates. 36,000 collateralized loan obligation securities. No ne of the securities held by the Company were past due or in nonaccrual status at December 31, 2021. Credit The Company monitors the credit quality of its investment securities through monitoring of credit ratings. government entity or agency and are either explicitly or implicitly guaranteed the long history of no credit losses on these securities indicates that the zero, even if the U.S. government were to technically default. been pre-refunded and secured by government guaranteed does municipal and corporate securities portfolio via credit ratings which are municipal and corporate securities in an unrealized loss position are related factors and if an allowance for credit loss is needed. |
LOANS HELD FOR INVESTMENT AND A
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES | 12 Months Ended |
Dec. 31, 2021 | |
Loans, net [Abstract] | |
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES | Note 3 LOANS HELD FOR INVESTMENT AND ALLOWANCE Loan Portfolio Composition . (Dollars in Thousands) 2021 2020 Commercial, Financial and Agricultural (1) $ 223,086 $ 393,930 Real Estate – Construction 174,394 135,831 Real Estate – Commercial Mortgage 663,550 648,393 Real Estate – Residential (2) 360,021 352,543 Real Estate – Home Equity 187,821 205,479 Consumer (3) 322,593 270,250 Loans Held for Investment, Net of Unearned Income $ 1,931,465 $ 2,006,426 (1) 0.1 175.3 (2) Includes loans in process with outstanding balances 13.6 10.9 (3) 1.1 0.7 Net deferred costs, which include premiums on purchased loans, included 3.9 net deferred fees were $ 0.1 3.2 fees for SBA PPP loans. Accrued interest receivable on loans which is excluded from amortized 5.3 6.9 million at December 31, 2020, and is reported separately in Other Assets. The Company has pledged a floating lien on certain 1-4 family residential and home equity loans to support available borrowing capacity at the FHLB of Atlanta all consumer loans, commercial loans, and construction loans to support Bank of Atlanta. Loan Purchases . from CCHL, a related party effective on March 1, 2020 (see Note totaled $ 97.5 48.4 impaired. 17.4 were not credit impaired. The Company transferred $ 9.4 no Allowance for Credit Losses . losses (“ACL”) has two basic components: first, an asset-specific component and the measurement of expected credit losses for such individual loans; losses for pools of loans that share similar risk characteristics. Accounting Policies. The following table details the activity in the allowance for credit losses by portfolio Allocation of a portion of the allowance to one category of loans does not categories. Commercial, Real Estate Financial, Real Estate Commercial Real Estate Real Estate (Dollars in Thousands) Agricultural Construction Mortgage Residential Home Equity Consumer Total 2021 Beginning Balance $ 2,204 $ 2,479 $ 7,029 $ 5,440 $ 3,111 $ 3,553 $ 23,816 (227) 813 (1,679) (1,956) (1,125) 1,332 (2,842) (239) - (405) (108) (103) (3,972) (4,827) 453 10 865 753 413 2,965 5,459 214 10 460 645 310 (1,007) 632 Ending Balance $ 2,191 $ 3,302 $ 5,810 $ 4,129 $ 2,296 $ 3,878 $ 21,606 2020 Beginning Balance $ 1,675 $ 370 $ 3,416 $ 3,128 $ 2,224 $ 3,092 $ 13,905 488 302 1,458 1,243 374 (596) 3,269 578 1,757 1,865 940 486 3,409 9,035 (789) - (28) (150) (151) (5,042) (6,160) 252 50 318 279 178 2,690 3,767 (537) 50 290 129 27 (2,352) (2,393) Ending Balance $ 2,204 $ 2,479 $ 7,029 $ 5,440 $ 3,111 $ 3,553 $ 23,816 2019 Beginning Balance $ 1,434 $ 280 $ 4,181 $ 3,400 $ 2,301 $ 2,614 $ 14,210 664 371 (1,129) (301) 178 2,244 2,027 (768) (281) (214) (400) (430) (2,878) (4,971) 345 - 578 429 175 1,112 2,639 (423) (281) 364 29 (255) (1,766) (2,332) Ending Balance $ 1,675 $ 370 $ 3,416 $ 3,128 $ 2,224 $ 3,092 $ 13,905 The $ 2.8 favorable loan migration and net loan recoveries totaling $ 0.6 growth (excluding SBA PPP). 9.9 reserves attributable to a deterioration in economic conditions, primarily pandemic and its potential effect on rates of default. estimate probability of default and are weighted based on management’s unprecedented fiscal stimulus, including direct payments government sponsored loan programs, was also considered. calculation of the provision for credit losses. credit losses related to off-balance sheet commitments. Loan Portfolio Aging. A loan is defined as a past due loan when one full payment is past due or a contractual maturity days past due (“DPD”). The following table presents the aging of the amortized cost basis in accruing 30-59 60-89 90 + Total Total Nonaccrual Total (Dollars in Thousands) DPD DPD DPD Past Due Current Loans Loans 2021 Commercial, Financial and Agricultural $ 100 $ 23 $ - $ 123 $ 222,873 $ 90 $ 223,086 Real Estate – Construction - - - - 174,394 - 174,394 Real Estate – Commercial Mortgage 151 - - 151 662,795 604 663,550 Real Estate – Residential 365 151 - 516 357,408 2,097 360,021 Real Estate – Home Equity 210 - - 210 186,292 1,319 187,821 Consumer 1,964 636 - 2,600 319,781 212 322,593 Total $ 2,790 $ 810 $ - $ 3,600 $ 1,923,543 $ 4,322 $ 1,931,465 2020 Commercial, Financial and Agricultural $ 194 $ 124 $ - $ 318 $ 393,451 $ 161 $ 393,930 Real Estate – Construction - 717 - 717 134,935 179 135,831 Real Estate – Commercial Mortgage 293 - - 293 646,688 1,412 648,393 Real Estate – Residential 375 530 - 905 348,508 3,130 352,543 Real Estate – Home Equity 325 138 - 463 204,321 695 205,479 Consumer 1,556 342 - 1,898 268,058 294 270,250 Total $ 2,743 $ 1,851 $ - $ 4,594 $ 1,995,961 $ 5,871 $ 2,006,426 Nonaccrual Loans . and/or management deems the collectability of the principal and/or when the principal and interest amounts contractually due are brought The Company did not recognize a significant amount of interest income 2021 and 2020. The following table presents the amortized cost basis of loans in nonaccrual accrual by class of loans. 2021 2020 Nonaccrual Nonaccrual 90 + Days Nonaccrual Nonaccrual 90 + Days With No With Still With No With Still (Dollars in Thousands) ACL ACL Accruing ACL ACL Accruing Commercial, Financial and Agricultural $ 67 $ 23 $ - $ - $ 161 $ - Real Estate – Construction - - - - 179 - Real Estate – Commercial Mortgage - 604 - 1,075 337 - Real Estate – Residential 928 1,169 - 1,513 1,617 - Real Estate – Home Equity 463 856 - - 695 - Consumer - 212 - - 294 - Total $ 1,458 $ 2,864 $ - $ 2,588 $ 3,283 $ - Collateral Dependent Loans . 2021 2020 Real Estate Non Real Estate Real Estate Non Real Estate (Dollars in Thousands) Secured Secured Secured Secured Commercial, Financial and Agricultural $ - $ 67 $ - $ - Real Estate – Commercial Mortgage 455 - 3,900 - Real Estate – Residential 1,645 - 3,022 - Real Estate – Home Equity 649 - 219 - Consumer - - - 29 Total $ 2,749 $ 67 $ 7,141 $ 29 A loan is collateral dependent when the borrower is experiencing financial the sale or operation of the underlying collateral. The Bank’s collateral dependent residential or commercial collateral types. independent appraisals or internal evaluations, adjusted for selling costs or expected net sales proceeds. Residential Real Estate Loans In Process of Foreclosure . 0.9 $ 1.6 Troubled . Company has granted an economic concession to the borrower that it would not a work-out alternative, the Company will make concessions including the extension reduction in the interest rate, or a combination thereof. allowance for credit losses on a loan-by-loan basis. discounted cash flow analysis or the underlying collateral value, if the classification can be removed if the borrower’s difficulty, market terms and qualifies as a new loan. At December 31, 2021, the Company had $ 8.0 7.6 modified terms. 14.3 13.9 accordance with modified terms. 0.3 0.6 December 31, 2021 and 2020, respectively. The modifications made to TDRs involved either an extension of the loan term, rate, or a combination thereof. three investment of $ 0.6 three of $ 0.2 seven 0.5 million. For the years ended December 31, 2021 and 2020, there were no and the loans were modified within the 12 months prior to default. Credit Risk Management . procedures designed to maximize loan income within an acceptable and approve these policies and procedures on a regular basis (at least annually). Reporting systems are used to monitor loan originations, loan quality, nonperforming loans and potential problem loans. our lines of business to monitor asset quality trends and the appropriateness exposure limits are established and concentration risk is monitored. portfolio is reviewed to gauge diversification of risk, client concentrations, relevant classifications of loans. basis and have strategic plans in place to supplement Board approved standards. Commercial, Financial, and Agricultural – Loans in this category borrower with consideration given to underlying collateral and service coverage ratio limits that require a borrower’s cash flow to new and existing debt. accounts receivable, inventory, Loan to value ratios at origination are governed by established policy guidelines. Real Estate Construction – Loans in this category consist of short-term lines and construction/permanent loans made to individuals rehabilitation of real property. generally secured by the property being financed, including 1-4 either owner-occupied or investment in nature. loans are generally based upon estimates of costs and value associated with determined based upon third party appraisals and evaluations. policy guidelines. these loans are closely monitored by on-site inspections. Real Estate Commercial Mortgage – Loans in this category consists of commercial either owner-occupied or investment in nature. project with consideration given to underlying real estate collateral and service coverage ratios and loan to value ratios specific to the property type. party appraisals and evaluations. Real Estate Residential – Residential mortgage loans held in the Company’s demonstrate the ability to make scheduled payments with full conside employment status, current assets, and other financial resources, credit of mortgage liens on 1-4 family residential properties. evaluations. Real Estate Home Equity – Home equity loans and lines are made to qualified secured by senior or junior mortgage liens on owner-occupied include favorable credit history combined with supportive income within established policy guidelines. Consumer Loans – This loan category includes personal installment loans, lines of credit. establishes maximum debt to income ratios, minimum credit scores, and and receipt of credit reports. Credit Quality Indicators . loans into risk categories based on relevant information about the financial information, historical payment performance, credit documentation, other factors. individual loan relationships over a predetermined amount uses the definitions noted below for categorizing and managing its criticized criteria set forth below and are not considered criticized. Special Mention – Loans in this category are presently protected from loss, but could cause future problems. factors. Substandard – Loans in this category exhibit well-defined weaknesses that would These loans are no longer adequately protected due to well-defined borrower. Doubtful – Loans in this category have all the weaknesses inherent in a loan categorized that the weaknesses make collection or liquidation in full, on the basis of currently questionable and improbable. Performing/Nonperforming – Loans within certain homogenous reviewed, but are monitored for credit quality via the aging status of the loan nonperforming status is updated on an on-going basis dependent upon The following table summarizes gross loans held for investment at December assigned credit risk ratings (refer to Credit Risk Management section for detail Term Loans by Origination Year Revolving (Dollars in Thousands) 2021 2020 2019 2018 2017 Prior Loans Total Commercial, Financial, Agricultural: Pass $ 69,531 $ 31,335 $ 30,084 $ 20,276 $ 9,578 $ 11,836 $ 50,030 $ 222,670 Special Mention - - 3 6 - 25 - 34 Substandard 35 10 67 178 46 46 - 382 Total $ 69,566 $ 31,345 $ 30,154 $ 20,460 $ 9,624 $ 11,907 $ 50,030 $ 223,086 Real Estate - Construction: Pass $ 95,457 $ 56,875 $ 15,770 $ 453 $ 130 $ - $ 5,709 $ 174,394 Total $ 95,457 $ 56,875 $ 15,770 $ 453 $ 130 $ - $ 5,709 $ 174,394 Real Estate - Commercial Mortgage: Pass $ 173,502 $ 134,418 $ 79,969 $ 79,575 $ 55,417 $ 91,938 $ 21,508 $ 636,327 Special Mention 7,004 - 1,760 2,639 426 5,374 1,000 18,203 Substandard 1,483 1,034 4,083 - 1,236 1,111 73 9,020 Total $ 181,989 $ 135,452 $ 85,812 $ 82,214 $ 57,079 $ 98,423 $ 22,581 $ 663,550 Real Estate - Residential: Pass $ 130,424 $ 62,509 $ 38,617 $ 27,332 $ 26,829 $ 60,467 $ 6,600 $ 352,778 Special Mention - 134 20 121 167 412 - 854 Substandard 1,651 - 1,038 806 218 2,676 - 6,389 Total $ 132,075 $ 62,643 $ 39,675 $ 28,259 $ 27,214 $ 63,555 $ 6,600 $ 360,021 Real Estate - Home Equity: Performing $ 137 $ 53 $ 257 $ 130 $ 743 $ 1,510 $ 183,672 $ 186,502 Nonperforming - - 18 - - 78 1,223 1,319 Total $ 137 53 275 130 743 1,588 184,895 187,821 Consumer: Performing $ 173,031 $ 64,805 $ 39,045 $ 26,383 $ 10,759 $ 3,138 $ 5,220 $ 322,381 Nonperforming 58 44 37 66 1 6 - 212 Total $ 173,089 64,849 39,082 26,449 10,760 3,144 5,220 322,593 |
MORTGAGE BANKING ACTIVITIES
MORTGAGE BANKING ACTIVITIES | 12 Months Ended |
Dec. 31, 2021 | |
Mortgage Banking Activities [Abstract] | |
Mortgage Banking Activities | Note 4 MORTGAGE BANKING ACTIVITIES The Company’s mortgage contracts used to manage residential loan pipeline price risk, utilization loan closings, and residential mortgage servicing. CCHL activities for the period March 1, 2020 to December 31, 2020 period January 1, 2020 to March 1, 2020. Residential Mortgage Loan Production The Company originates, markets, and services conventional and conforming fixed rate residential mortgage loans are held for sale in the rate residential mortgage loans may be held for investment. secondary market prices are the primary drivers of origination revenue. Residential mortgage loan commitments are generally outstanding for 30 commitment to originate a residential mortgage loan to when the closed commitments are subject to both credit and price risk. including collateral requirements, which are generally accepted by interest rate fluctuations and is partially managed through forward sales of announced securities, or TBAs) or mandatory delivery commitments with The unpaid principal balance of residential mortgage loans held for sale, residential mortgage loan commitments and forward contract sales and their December 31, 2021 December 31, 2020 Unpaid Principal Unpaid Principal (Dollars in Thousands) Balance/Notional Fair Value Balance/Notional Fair Value Residential Mortgage Loans Held for Sale $ 50,733 $ 52,532 $ 109,831 $ 114,039 Residential Mortgage Loan Commitments ("IRLCs") (1) 51,883 1,258 147,494 4,825 Forward Sales Contracts (2) 48,000 (7) 158,500 (907) $ 53,783 $ 117,957 (1) Recorded in other assets at fair value (2) Recorded in other liabilities at fair value Residential mortgage loans held for sale that were 30-69 days outstanding 0.2 held for sale that were 90 days or more outstanding or on nonaccrual totaled $ 0.6 Mortgage banking revenues for the year ended December 31, was as follows: (Dollars in Thousands) 2021 2020 Net realized gains on sales of mortgage loans $ 49,355 $ 59,709 Net change in unrealized gain on mortgage loans held for sale (2,410) 2,926 Net change in the fair value of mortgage loan commitments (IRLCs) (3,567) 2,625 Net change in the fair value of forward sales contracts 900 284 Pair-Offs on net settlement of forward 2,956 (9,602) Mortgage servicing rights additions 1,416 3,448 Net origination fees 3,775 3,954 Total mortgage banking $ 52,425 $ 63,344 Residential Mortgage Servicing The Company may retain the right to service residential mortgage loans others is the primary driver of servicing revenue. The following represents a summary of mortgage servicing rights. (Dollars in Thousands) 2021 2020 Number of residential mortgage loans serviced for others 2,106 1,796 Outstanding principal balance of residential mortgage loans serviced $ 532,967 $ 456,135 Weighted average 3.59% 3.64% Remaining contractual term (in months) 317 321 Conforming conventional loans serviced by the Company are sold to FNMA on are generally the responsibility of FNMA and not the Company. through GNMA, whereby the Company is insured against loss by the Federal against loss by the Veterans loan types: FNMA ( 60 %), GNMA ( 9 %), and private investor ( 31 %). actual/actual payment remittance. The Company had $ 2.0 4.9 the Company at December 31, 2021 and 2020, respectively. has been recorded in other assets and other liabilities, respectively, the years ended December 31, 2021, the Company repurchased 2.8 with the intention to modify their terms and include the loans in new GNMA no t repurchase any of these loans for the year ended December 31, 2020. Activity in the capitalized mortgage servicing rights for the year ended (Dollars in Thousands) 2021 2020 Beginning balance $ 3,452 $ 910 Additions due to loans sold with servicing retained 1,416 3,448 Deletions and amortization (1,344) (656) Valuation 250 (250) Ending balance $ 3,774 $ 3,452 The Company had no 2020. The key unobservable inputs used in determining the fair value of the Company’s as follows: 2021 2020 Minimum Maximum Minimum Maximum Discount rates 11.00% 15.00% 11.00% 15.00% Annual prepayment speeds 11.98% 23.79% 13.08% 23.64% Cost of servicing (per loan) $ 60 73 $ 90 110 Changes in residential mortgage interest rates directly affect servicing rights. rates, estimated loan curtailment, anticipated defaults, and other relevant was 15.85 % at December 31, 2021 and 17.10 % at December 31, 2020. Warehouse The Company has the following warehouse lines of credit and master repurchase December 31, 2021. Amounts (Dollars in Thousands) Outstanding $ 75 1.00% to plus 1.00% , with a floor rate of 3.25% . 0.5 $ 11,607 $ 75 November 2022 . 2.25% to 3.25% . 17,371 $ 28,978 Warehouse $ 74.8 as collateral under the above warehouse lines of credit and master repurchase agreements. covenants which include certain financial requirements, including assets and maximum debt to net worth ratio, as defined in the agreements. debt covenants at December 31, 2021. The Company intends to renew the warehouse lines of credit and master repurchase The Company has extended a $ 50 51 % owned subsidiary entity. transactions under this line of credit are eliminated in the Company’s the total short term borrowings noted on the consolidated statement of December 31, 2021 was $ 14.8 |
DERIVATIVES
DERIVATIVES | 12 Months Ended |
Dec. 31, 2021 | |
Derivatives [Abstract] | |
Derivatives | Note 5 DERIVATIVES The Company enters into derivative financial instruments to manage exposures receipt or payment of future known and uncertain cash amounts, the value of Company’s derivative financial known or expected cash receipts and its known or expected cash payments debt. Cash Flow Hedges of Interest Rate Risk Interest rate swaps with notional amounts totaling $ 30 subordinated debt. 2.50 % and receive a variable interest rate based on three-month LIBOR plus a weighted average 1.83 %. For derivatives designated and that qualify as cash flow hedges of interest rate in accumulated other comprehensive income (“AOCI”) and subsequently during which the hedged transaction affects earnings. Amounts derivatives will be reclassified to interest expense as interest payments debt. The following table reflects the cash flow hedges included in the consolidated Statement of Financial Notional Fair Weighted Average (Dollars in Thousands) Condition Location Value Interest rate swaps related to subordinated debt: December 31, 2021 Other Assets $ 30,000 $ 2,050 8.5 December 31, 2020 Other Assets $ 30,000 $ 574 9.5 The following table presents the net gains (losses) recorded in AOCI and cash flow derivative instruments (interest rate swaps related to subordinated debt). Amount of Gain Amount of Gain (Loss) Recognized (Loss) Reclassified (Dollars in Thousands) Category in AOCI from AOCI to Income December 31, 2021 Interest Expense $ 1,530 $ (151) December 31, 2020 Interest Expense $ 428 $ (64) The Company estimates there will be approximately $ 0.1 months. At December 31, 2021 and 2020, the Company had a collateral liability of 2.0 0.5 |
PREMISES AND EQUIPMENT
PREMISES AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2021 | |
Premises and equipment [Abstract] | |
PREMISES AND EQUIPMENT | Note 6 PREMISES AND EQUIPMENT The composition of the Company's premises and equipment at December 31 was as follows: (Dollars in Thousands) 2021 2020 Land $ 23,575 $ 23,744 Buildings 110,503 114,306 Fixtures and Equipment 57,010 55,916 Total 191,088 193,966 Accumulated Depreciation (107,676) (107,175) Premises and Equipment, Net $ 83,412 $ 86,791 Depreciation expense for the above premises and equipment was approximately 7.6 7.0 6.3 2021, 2020, and 2019, respectively |
LEASES
LEASES | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Leases | Note 7 LEASES Operating leases in which the Company is the lessee are recorded as operating liabilities, included in other assets and liabilities, respectively, Operating lease ROU assets represent the Company’s liabilities represent the Company’s liabilities are recognized at lease commencement based on the present value of that represents the Company’s incremental comprised of amortization of the ROU asset and the implicit interest accreted straight-line basis over the lease term, and is recorded in occupancy expense in The Company’s operating one forty-four years . Company’s leases are not complex assumptions or judgments made in applying the requirements of Topic less are not recorded on the consolidated statements of financial condition straight-line basis over the lease term. 11.5 12.2 respectively. 12.0 12.8 respectively. The table below summarizes our lease expense and other information at (Dollars in Thousands) 2021 2020 2019 Operating lease expense $ 1,445 $ 1,018 $ 325 Short-term lease expense 663 530 120 Total lease expense $ 2,108 $ 1,548 $ 445 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,609 $ 1,174 $ 331 Right-of-use assets obtained in exchange for new operating lease liabilities 784 11,101 1,739 Weighted-average 25.3 25.4 6.8 Weighted-average 2.0 % 2.1 % 2.9 % The table below summarizes the maturity of remaining lease liabilities: (Dollars in Thousands) December 31, 2021 2022 $ 1,499 2023 1,129 2024 1,088 2025 911 2026 835 2027 and thereafter 10,364 Total $ 15,826 Less: Interest (3,658) Present value of lease liability $ 12,168 At December 31, 2021, the Company had four additional operating have not yet commenced. 9.3 15 and the fourth lease has payments totaling $ 1.4 10 offices are expected to commence after the construction periods 2022 A related party is the lessor in an operating lease with the Company. 0.2 through 2024, for an aggregate remaining obligation of $ 0.6 |
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill [Abstract] | |
GOODWILL | Note 8 GOODWILL AND OTHER INTANGIBLES At December 31, 2021 and 2020, the Company had goodwill of $ 91.8 89.1 for impairment on an annual basis, or more often if impairment indicators exist. goodwill impairment indicators. compare the estimated fair value of the reporting unit to its carrying amount. its estimated fair value, an impairment charge is recorded On April 30, 2021, a newly formed subsidiary of CCBG, Capital City Strategic Wealth, of the assets of Strategic Wealth carrier agreements, and the assignment of all related revenues thereof. principles became officers of CCSW and will continue the operation management services and comprehensive risk management and asset protection CCBG paid $ 4.5 2.8 10 year 1.6 0.1 estimated amortization expense for each of the ten succeeding fiscal years is $ 0.2 On March 1, 2020, CCB completed its acquisition of a 51 % membership interest in Brand Mortgage Group, LLC (“Brand”), which is now operated as Capital City Home Loans (“CCHL”). Combination for additional information. 7.1 51 % membership interest and recorded goodwill totaling $ 4.3 During the fourth quarter of 2021, the Company performed its annual goodwill no goodwill impairment existed at December 31, 2021 and no will continue to evaluate goodwill for impairment as defined by ASC Topic |
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED | 12 Months Ended |
Dec. 31, 2021 | |
Other Real Estate Owned [Abstract] | |
OTHER REAL ESTATE OWNED | Note 9 OTHER REAL ESTATE The following table presents other real estate owned activity at December 31, (Dollars in Thousands) 2021 2020 2019 Beginning Balance $ 808 $ 953 $ 2,229 Additions 1,717 2,297 1,298 Valuation (31) (792) (300) Sales (2,809) (1,650) (2,274) Other 332 - - Ending Balance $ 17 $ 808 $ 953 Net expenses applicable to other real estate owned for the three years ended December (Dollars in Thousands) 2021 2020 2019 Gains from the Sale of Properties $ (1,711) $ (1,218) $ (244) Losses from the Sale of Properties 18 33 159 Rental Income from Properties - - (4) Property Carrying Costs 174 497 335 Valuation 31 792 300 Total $ (1,488) $ 104 $ 546 |
DEPOSITS
DEPOSITS | 12 Months Ended |
Dec. 31, 2021 | |
Deposits [Abstract] | |
DEPOSITS | Note 10 DEPOSITS The composition of the Company's interest bearing deposits at December 31 was as follows: (Dollars in Thousands) 2021 2020 NOW Accounts $ 1,070,154 $ 1,046,408 Money Market Accounts 274,611 266,649 Savings Deposits 599,811 474,100 Time Deposits 99,374 101,594 Total Interest Bearing $ 2,043,950 $ 1,888,751 At December 31, 2021 and 2020, $ 1.1 0.7 loans. The amount of time deposits that meet or exceed the FDIC insurance limit of $250,000 10.0 8.5 December 31, 2021 and 2020, respectively. At December 31, the scheduled maturities of time deposits were as follows: (Dollars in Thousands) 2021 2022 $ 81,504 2023 9,453 2024 4,885 2025 1,877 2026 and thereafter 1,655 Total $ 99,374 Interest expense on deposits for the three years ended December 31, was as follows: (Dollars in Thousands) 2021 2020 2019 NOW Accounts $ 294 $ 930 $ 5,502 Money Market Accounts 134 223 946 Savings Deposits 263 207 182 Time Deposits < $250,000 145 179 201 Time Deposits > $250,000 3 9 9 Total $ 839 $ 1,548 $ 6,840 |
SHORT-TERM BORROWINGS
SHORT-TERM BORROWINGS | 12 Months Ended |
Dec. 31, 2021 | |
Short Term Borrowings [Abstract] | |
SHORT-TERM BORROWINGS | Note 11 SHORT-TERM BORROWINGS Short-term borrowings included the following: (Dollars in Thousands) Federal Funds Purchased Securities Sold Under Repurchase Agreements (1) Other Short-Term Borrowings (2) 2021 Balance at December 31 $ - $ 4,955 $ 29,602 Maximum indebtedness at any month end - 6,755 58,309 Daily average indebtedness outstanding 2 5,762 47,748 Average rate paid 2.39 % 0.04 % 2.84 % Average rate paid - % 0.04 % 2.36 % 2020 Balance at December 31 $ - $ 4,851 $ 74,803 Maximum indebtedness at any month end - 5,922 94,071 Daily average indebtedness outstanding 2 5,384 63,733 Average rate paid 2.56 % 0.10 % 4.36 % Average rate paid - % 0.04 % 3.00 % 2019 Balance at December 31 $ - $ 6,065 $ 339 Maximum indebtedness at any month end - 9,141 3,746 Daily average indebtedness outstanding 47 6,180 3,047 Average rate paid 2.85 % 0.91 % 1.73 % Average rate paid - % 0.46 % 4.11 % (1) Balances are fully collateralized by government treasury or agency securities held in the Company's investment portfolio. (2) Comprised of FHLB advances totaling $ 0.6 29.0 |
LONG-TERM BORROWINGS
LONG-TERM BORROWINGS | 12 Months Ended |
Dec. 31, 2021 | |
Long-term Borrowings [Abstract] | |
LONG-TERM BORROWINGS | Note 12 LONG-TERM BORROWINGS Federal Home Loan Bank Advances. FHLB long-term advances totaled $ 0.9 2.2 December 31, 2020. The advances mature at varying dates from 2022 through 2025 and had a weighted-average rate of 3.37% and 3.47% at December 31, 2021 and 2020, respectively. family residential mortgage loans, commercial real estate mortgage advances is paid on a monthly basis. Note Payable. Long-term note payable was paid in full at December 31, 2021 and totaled $ 0.9 Scheduled minimum future principal payments on our other long-term (Dollars in Thousands) 2021 2022 $ 312 2023 257 2024 199 2025 116 Total $ 884 Junior Subordinated Deferrable Interest The Company has issued two junior subordinated deferrable interest notes to wholly owned Delaware statutory trusts. 30.9 for $ 32.0 Company is not the primary beneficiary. financial statements. See Note 1 - Significant Accounting Policies for additional policy. In November 2004, CCBG Capital Trust I 30.0 of the trust. 3-month LIBOR 1.90 %, adjusted quarterly. preferred securities will mature on December 31, 2034 , and are redeemable upon approval of the Federal Reserve in whole or in part at the option of the Company at any time after December 31, 2009 and in whole at any events affecting their tax or regulatory capital treatment. March 31, June 30, September 30, and December 31 of each year. 0.9 equity securities to CCBG. purchase a $ 30.9 preferred securities. 10 auctioned as part of a liquidation of a pooled collateralized debt obligation fund. issued through CCBG Capital Trust In May 2005, CCBG Capital Trust II issued 31.0 trust. 3-month LIBOR 1.80 %, adjusted quarterly. securities will mature on June 15, 2035 , and are redeemable upon approval of the Federal Reserve in whole or in part of the Company and in whole at any time upon occurrence of certain events affecting Distributions on the trust preferred securities are payable quarterly on March 15, each year. 0.9 of trust preferred securities and common equity securities were used to purchase 32.0 interest note issued by the Company, The Company has the right to defer payments of interest on the two notes twenty consecutive quarterly interest payment periods. circumstances there is an event of default under the note or the Company has may not, with certain exceptions, declare or pay any dividends or distributions its capital stock. The Company has entered into agreements to guarantee the payments of payments of redemption of the trust preferred securities. basis, to pay expenses and liabilities of the two trusts other than those arising of the Company under the two junior subordinated notes, the trust agreements establishing agreement as to expenses and liabilities, in aggregate, constitute a full trusts' obligations under the two trust preferred security issuances. Despite the fact that the accounts of CCBG Capital Trust consolidated financial statements, the $ 20.0 31.0 subsidiary trusts are included in the Tier 1 Capital of |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax [Abstract] | |
INCOME TAXES | Note 13 INCOME TAXES The provision for income taxes reflected in the statements of comprehensive (Dollars in Thousands) 2021 2020 2019 Current: Federal $ 12,039 $ 8,625 $ 8,481 State 1,044 1,658 247 13,083 10,283 8,728 Deferred: Federal (3,246) (143) (680) State (10) 130 1,913 Change in Valuation 8 (40) (8) (3,248) (53) 1,225 Total: Federal 8,793 8,482 7,801 State 1,034 1,788 2,160 Change in Valuation 8 (40) (8) Total $ 9,835 $ 10,230 $ 9,953 Income taxes provided were different than the tax expense 21 % to pre-tax income as a result of the following: (Dollars in Thousands) 2021 2020 2019 Tax Expense at Federal $ 10,385 $ 11,106 $ 8,560 Increases (Decreases) Resulting From: Tax-Exempt Interest (271) (341) (425) State Taxes, Net of Federal 819 1,413 1,342 Other 375 601 294 Change in Valuation 8 (40) (8) Tax-Exempt Cash Surrender (173) (173) (175) Expense Due to Reduction of Florida Corporate Income Tax - - 365 Noncontrolling Interest (1,308) (2,336) - Actual Tax Expense $ 9,835 $ 10,230 $ 9,953 Deferred income tax liabilities and assets result from differences between purposes and for income tax return purposes. are currently in effect. The net deferred tax asset and the temporary differences comprising (Dollars in Thousands) 2021 2020 Deferred Tax Assets Attributable Allowance for Credit Losses $ 5,308 $ 6,037 Accrued Pension/SERP 4,468 16,052 State Net Operating Loss and Tax 1,984 2,335 Other Real Estate Owned 1,029 1,066 Accrued SERP Liability 2,442 2,104 Lease Liability 2,597 2,581 Net Unrealized Losses on Investment Securities 1,532 - Other 2,325 2,637 Total Deferred $ 21,685 $ 32,812 Deferred Tax Liabilities Depreciation on Premises and Equipment $ 3,208 $ 4,408 Deferred Loan Fees and Costs 2,016 2,824 Intangible Assets 3,276 3,290 Accrued Pension Liability 2,138 4,723 Right of Use Asset 2,453 2,411 Investments 469 469 Other 857 1,165 Total Deferred 14,417 19,290 Valuation 1,648 1,640 Net Deferred Tax Asset $ 5,620 $ 11,882 In the opinion of management, it is more likely than not that all of the deferred tax operating loss carry-forwards and certain state tax credit carry-forwards expected Accordingly, a valuation 1.6 state loss and tax credit carry-forwards of approximately $ 2.0 2022 2041 . The Company had $ 0.1 operations. It is the Company’s policy to recognize federal or state income taxes accounts. no statements of income for the years ended December 31, 2021, 2020, and 2019. no consolidated statements of financial condition for penalties and interest The Company files a consolidated U.S. federal income tax return and a separate subsidiary files various returns in states where its banking offices or state tax examinations for years before 2018. |
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION | 12 Months Ended |
Dec. 31, 2021 | |
Stock-Based Compensation [Abstract] | |
STOCK-BASED COMPENSATION | Note 14 STOCK-BASED COMPENSATION At December 31, 2021, the Company had three stock-based compensation (“AIP”), the 2021 Associate Stock Purchase Plan (“ASPP”), and which were approved by the shareowners in April 2021, replaced substantially 2011. 2.2 1.6 1.6 million, respectively. AIP. AIP there were 700,000 the AIP, Awards date fair value of the shares eligible to be awarded in 2021 was approximately 1.0 60 % of the award is in the form of stock and 40 % in the form of a cash bonus. 25,356 additional shares could be earned if performance exceeded established goals. 29,926 were issued in January 2022. 10,377 1.2 million, $ 1.0 0.9 Executive Long-Term . provisions of the AIP that allows William G. Smith, Thomas A. Barron, the President of CCB, and J. Kimbrough Davis, Chief Financial on the compound annual growth rate in diluted earnings per share over $ 0.2 0.4 1.2 under the plan were 27,915 , 32,482 , and 15,272 6,849 After deducting the shares earned, but not issued, in 2021 under the AIP and LTIP, 603,251 under the 2021 AIP. DSPP. The Company’s DSPP allows the directors 90 % of the closing price on the date of purchase. and meeting fees. 300,000 0.1 million in expense under the DSPP for the years ended December 31, 2021, 2020 the DSPP totaling 19,362 , 16,119 15,332 31, 2021, there are 280,638 ASPP. Under the Company’s ASPP, deductions at a price equal to 90 % of the lower of the fair market value at the beginning or end of each six-month offering period. 10 % of an associate's eligible compensation, up to a maximum of $ 25,000 (fair market value on each enrollment date) in any plan year. 400,000 reserved for issuance. 0.1 0.2 0.1 years ended December 31, 2021, 2020 and 2019, respectively. 22,126 , 33,910 27,304 377,874 remained eligible for issuance under the ASPP. Based on the Black-Scholes option pricing model, the weighted average granted under the ASPP was $ 3.96 $ 5.83 3.61 , respectively. of grant using the following weighted average assumptions: 2021 2020 2019 Dividend yield 2.5 % 2.4 % 2.0 % Expected volatility 21.8 % 45.6 % 17.4 % Risk-free interest rate 0.1 % 0.9 % 2.3 % Expected life (in years) 0.5 0.5 0.5 |
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS | 12 Months Ended |
Dec. 31, 2021 | |
Employee benefits plans [Abstract] | |
EMPLOYEE BENEFIT PLANS | Note 15 EMPLOYEE BENEFIT PLANS Pension Plan The Company sponsors a noncontributory pension plan covering generally are based on the associate's total years of service and average of the years immediately preceding their departure. minimum funding requirements as set by law and to ensure deductibility 2019, the plan was amended to remove plan eligibility for new associates hired after The following table details on a consolidated basis the changes in benefit the plan, components of pension expense, amounts recognized in the and major assumptions used to determine these amounts. (Dollars in Thousands) 2021 2020 2019 Change in Projected Benefit Obligation: Benefit Obligation at Beginning of Year $ 212,566 $ 180,830 $ 149,347 Service Cost 6,971 5,828 6,114 Interest Cost 4,885 5,612 6,178 Actuarial (Gain) Loss (14,934) 32,172 25,715 Benefits Paid (2,087) (11,677) (6,255) Expenses Paid (259) (260) (269) Settlements (34,634) - - Special/Contractual Termination - 61 - Projected Benefit Obligation at End of Year $ 172,508 $ 212,566 $ 180,830 Change in Plan Assets: Fair Value $ 171,775 $ 161,646 $ 134,535 Actual Return on Plan Assets 30,479 17,066 28,635 Employer Contributions - 5,000 5,000 Benefits Paid (2,087) (11,677) (6,255) Expenses Paid (259) (260) (269) Settlements (34,634) - - Fair Value $ 165,274 $ 171,775 $ 161,646 Funded Status of Plan and Accrued Liability Recognized at End of Year: Other Liabilities $ 7,234 $ 40,791 $ 19,184 Accumulated Benefit Obligation at End of Year $ 149,569 $ 177,362 $ 156,327 Components of Net Periodic Benefit Costs: Service Cost $ 6,971 $ 5,828 $ 6,114 Interest Cost 4,885 5,612 6,178 Expected Return on Plan Assets (11,147) (10,993) (9,527) Amortization of Prior Service Costs 15 15 15 Special/Contractual Termination - 61 - Net Loss Amortization 6,764 3,933 3,862 Net Loss Settlements 3,072 - - Net Periodic Benefit Cost $ 10,560 $ 4,456 $ 6,642 Weighted-Average Discount Rate 3.11% 2.88% 3.53% Rate of Compensation Increase (1) 4.40% 4.00% 4.00% Measurement Date 12/31/21 12/31/20 12/31/19 Weighted-Average Discount Rate 2.88% 3.53% 4.43% Expected Return on Plan Assets 6.75% 7.00% 7.25% Rate of Compensation Increase (1) 4.00% 4.00% 4.00% Amortization Amounts from Accumulated Other Comprehensive Income: Net Actuarial Loss (Gain) $ (34,265) $ 26,098 $ 6,606 Prior Service Cost (15) (15) (15) Net Loss (9,836) (3,933) (3,862) Deferred Tax (Benefit) 11,183 (5,615) (694) Other Comprehensive Loss (Gain), net of tax $ (32,933) $ 16,535 $ 2,035 Amounts Recognized in Accumulated Other Comprehensive Income: Net Actuarial Losses $ 15,300 $ 59,400 $ 37,235 Prior Service Cost 20 35 50 Deferred Tax Benefit (3,884) (15,066) (9,451) Accumulated Other Comprehensive Loss, net of tax $ 11,436 $ 44,369 $ 27,834 (1) During 2021, lump sum payments made under the Company’s accordance with the applicable accounting guidance for defined 3.1 million. The service cost component of net periodic benefit cost is reflected in compensation income. statements of income. The Company expects to recognize $ 1.7 December 31, 2021 as a component of net periodic benefit cost during 2022. Plan Assets. The Company’s pension 2021 are as follows: Target Percentage of Plan Allocation Assets at December 31 (1) 2022 2021 2020 Equity Securities 68 % 73 % 71 % Debt Securities 27 % 23 % 21 % Cash and Cash Equivalents 5 % 4 % 8 % Total 100 % 100 % 100 % (1) Represents asset allocation at December 31 which end cash contribution to the plan. The Company’s pension plan assets are overseen investment manager for the plan. Company believes the best way to accomplish this goal is to take a conservative in mutual funds that include various high-grade equity securities and investment strategies. following investment policy statement allocation ranges: equity securities ranging 55 % and 81 %, debt securities ranging from 17 % and 37 %, and cash and cash equivalents ranging from 0 % and 10 %. assets is a weighted-average expectation for the return on plan assets. economic/financial data to arrive at expected long-term rates of return for each asset category. The major categories of assets in the Company’s segregated by the level of the valuation inputs within the fair value hierarchy fair value (see Note 22 – Fair Value (Dollars in Thousands) 2021 2020 Level 1: U.S. Treasury Securities $ 200 $ 405 Mutual Funds 156,726 155,192 Cash and Cash Equivalents 6,881 12,789 Level 2: U.S. Government Agency 527 1,555 Corporate Notes/Bonds 940 1,834 Total Fair Value $ 165,274 $ 171,775 Expected Benefit Payments. follows: (Dollars in Thousands) 2021 2022 $ 13,463 2023 12,567 2024 12,774 2025 12,703 2026 12,070 2027 through 2031 51,009 Total $ 114,586 Contributions. The following table details the amounts contributed to the pension plan in 2021 amount to be contributed in 2022. Expected Contribution (Dollars in Thousands) 2020 2021 2022 (1) Actual Contributions $ 5,000 $ - $ - 5,000 (1) For 2022, the Company will have the option to make a cash contribution Supplemental Executive Retirement Plan The Company has a Supplemental Executive Retirement Plan (“SERP”) and (“SERP II”) covering selected executive officers. compensation as used for the pension plan, except the benefits are calculated without Revenue Code on compensation and benefits. and the benefit payable by the pension plan. certain executive officers that were not covered by The following table details on a consolidated basis the changes in benefit pension expense, amounts recognized in the Company's consolidated used to determine these amounts. (Dollars in Thousands) 2021 2020 2019 Change in Projected Benefit Obligation: Benefit Obligation at Beginning of Year $ 13,402 $ 10,244 $ 8,860 Service Cost 35 31 - Interest Cost 243 321 349 Actuarial (Gain) Loss (146) 1,826 1,035 Plan Amendments - 980 - Projected Benefit Obligation at End of Year $ 13,534 $ 13,402 $ 10,244 Funded Status of Plan and Accrued Liability Recognized at End of Year: Other Liabilities $ 13,534 $ 13,402 $ 10,244 Accumulated Benefit Obligation at End of Year $ 12,803 $ 12,339 $ 8,778 Components of Net Periodic Benefit Costs: Service Cost $ 35 $ 31 $ - Interest Cost 243 321 349 Amortization of Prior Service Cost 277 327 - Net Loss Amortization 970 503 761 Net Periodic Benefit Cost $ 1,525 $ 1,182 $ 1,110 Weighted-Average Discount Rate 2.80% 2.38% 3.16% Rate of Compensation Increase (1) 4.40% 4.00% 4.00% Measurement Date 12/31/21 12/31/20 12/31/19 Weighted-Average Discount Rate 2.38% 3.16% 4.23% Rate of Compensation Increase (1) 4.00% 3.50% 3.50% Amortization Amounts from Accumulated Other Comprehensive Income: Net Actuarial $ (146) $ 1,826 $ 1,035 Prior Service (Benefit) Cost (219) 895 - Net Loss (970) (458) (761) Deferred Tax (Benefit) 154 (573) (70) Other Comprehensive (Gain) Loss, net of tax $ (1,181) $ 1,690 $ 204 Amounts Recognized in Accumulated Other Comprehensive Income: Net Actuarial Loss $ 1,875 $ 2,991 $ 1,622 Prior Service Cost 429 895 - Deferred Tax Benefit (584) (985) (411) Accumulated Other Comprehensive Loss, net of tax $ 1,720 $ 2,901 $ 1,211 (1) The Company expects to recognize approximately $ 1.0 comprehensive income at December 31, 2021 as a component of net periodic Expected Benefit Payments . As of December 31, expected benefit payments related to the SERP were as follows: (Dollars in Thousands) 2021 2022 $ 7,521 2023 4,994 2024 952 2025 36 2026 28 2027 through 2031 316 Total $ 13,847 401(k) Plan The Company has a 401(k) Plan which enables CCB and CCBG associates to defer basis. enable participants to contribute any amount, up to the maximum annual limit allowed in any plan year placed in the 401(k) Plan trust account. 50 % from the Company are made up to 6 % of the participant's compensation for eligible associates. 50 % match, all associates hired after December 31, 2019 will receive annually a contribution by the Company equal to 3 % of their compensation. annual matching contributions of $ 1.0 0.8 million and $ 0.7 options available to 401(k) participants, including the Company’s 50,000 stock have been reserved for issuance. CCHL, a 51 % owned subsidiary of the Company has a 401(k) Plan available to allows participants to contribute any amount, up to the maximum annual limit allowed in any plan year placed in the 401(k) Plan trust account. For 2021 and 2020, matching contributions were made by CCHL up to 3 % of eligible participant's compensation totaling $ 0.7 million and $ 0.5 Other Plans The Company has a Dividend Reinvestment and Optional Stock Purchase 250,000 issuance. market and, thus, the Company did not issue any shares under this plan in 2021, |
EARNINGS PER SHARE
EARNINGS PER SHARE | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | Note 16 EARNINGS PER SHARE The following table sets forth the computation of basic and diluted (Dollars and Per Share Data in Thousands) 2021 2020 2019 Numerator: Net Income Attributable to Common Shareowners $ 33,396 $ 31,576 $ 30,807 Denominator: Denominator for Basic Earnings Per Share Weighted 16,863 16,785 16,770 Effects of Dilutive Securities Stock Compensation 30 37 57 Denominator for Diluted Earnings Per Share Adjusted Weighted 16,893 16,822 16,827 Basic Earnings Per Share $ 1.98 $ 1.88 $ 1.84 Diluted Earnings Per Share $ 1.98 $ 1.88 $ 1.83 |
REGULATORY MATTERS
REGULATORY MATTERS | 12 Months Ended |
Dec. 31, 2021 | |
Regulatory matters [Abstract] | |
REGULATORY MATTERS | Note 17 REGULATORY Regulatory Capital Requirements . requirements administered by the federal banking agencies. mandatory and possible additional discretionary actions by regulators that, the Company and Bank’s financial statements. corrective action , the Company and the Bank must meet specific capital guidelines that involve quantitative assets, liabilities and certain off-balance sheet items as calculated under classification are also subject to qualitative judgments by the regulators about Prompt corrective action provisions are not applicable to bank holding capital requirements is provided in the section captioned “Regulatory Management believes, at December 31, 2021 and 2020, that the Company which they are subject. categorized the Bank as well capitalized under the regulatory framework for prompt capitalized, an institution must maintain minimum common equity ratios as set forth in the following tables. changed the Bank’s category. presented in the following table. To Be Well Capitalized Under Required Prompt For Capital Corrective Actual Adequacy Purposes Action Provisions (Dollars in Thousands) Amount Ratio Amount Ratio Amount Ratio 2021 Common Equity Tier 1: CCBG $ 310,947 13.86% $ 100,925 4.50% * * CCB 346,959 15.50% 100,725 4.50% $ 145,491 6.50% Tier 1 Capital: CCBG 361,947 16.14% 134,566 6.00% * * CCB 346,959 15.50% 134,300 6.00% 179,066 8.00% Total CCBG 384,743 17.15% 179,422 8.00% * * CCB 369,754 16.52% 179,066 8.00% 223,833 10.00% Tier 1 Leverage: CCBG 361,947 8.95% 161,749 4.00% * * CCB 346,959 8.59% 161,515 4.00% 201,894 5.00% 2020 Common Equity Tier 1: CCBG $ 281,494 13.71% $ 92,424 4.50% * * CCB 302,147 14.75% 92,177 4.50% $ 133,145 6.50% Tier 1 Capital: CCBG 332,494 16.19% 123,232 6.00% * * CCB 302,147 14.75% 122,903 6.00% 163,870 8.00% Total CCBG 355,338 17.30% 164,310 8.00% * * CCB 324,991 15.87% 163,870 8.00% 204,838 10.00% Tier 1 Leverage: CCBG 332,494 9.33% 142,560 4.00% * * CCB 302,147 8.49% 142,280 4.00% 177,850 5.00% * Dividend Restrictions . to provide funds for the payment of dividends to shareowners and to provide may limit the amount of dividends that may be paid. declared would cause the regulatory capital of the Company’s Approval is also required if dividends declared exceed the net profits of retained net profits for proceeding two years. $ 43.0 dividend declaration. |
ACCUMULATED OTHER COMPREHENSIVE
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | Note 18 ACCUMULATED OTHER FASB Topic income statement be displayed as other comprehensive income. statements of comprehensive income and changes in shareowners’ equity. The following table shows the amounts allocated to accumulated other Accumulated Securities Other Available Interest Rate Retirement Comprehensive for Sale Swap Plans (Loss) Income Balance as of January 1, 2021 $ 2,700 $ 428 $ (47,270) $ (44,142) Other comprehensive (loss) income during the period (7,288) 1,102 34,114 27,928 Balance as of December 31, 2021 $ (4,588) $ 1,530 $ (13,156) $ (16,214) Balance as of January 1, 2020 $ 864 $ - $ (29,045) $ (28,181) Other comprehensive income (loss) during the period 1,836 428 (18,225) (15,961) Balance as of December 31, 2020 $ 2,700 $ 428 $ (47,270) $ (44,142) Balance as of January 1, 2019 $ (2,008) $ - $ (26,807) $ (28,815) Other comprehensive income (loss) during the period 2,872 - (2,238) 634 Balance as of December 31, 2019 $ 864 $ - $ (29,045) $ (28,181) |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | Note 19 RELATED PARTY At December 31, 2021 and 2020, certain officers and directors were indebted amount of $ 3.8 4.3 2.4 $ 2.9 Deposits from certain directors, executive officers, and 50.1 41.9 31, 2021 and 2020, respectively. Under a lease agreement expiring in 2024, the Bank leases land from a partnership The lease agreement with Smith Interests General Partnership L.L.P. 0.2 million, to be adjusted for inflation in future years. William G. Smith, III, the son of our Chairman, President, Leon County at Capital City Bank. salary, annual bonus, and compensation practices applicable to associates with similar responsibilities |
OTHER NONINTEREST EXPENSE
OTHER NONINTEREST EXPENSE | 12 Months Ended |
Dec. 31, 2021 | |
Other Noninterest Expense [Abstract] | |
OTHER NONINTEREST EXPENSE | Note 20 OTHER NONINTEREST EXPENSE Components of other noninterest expense in excess of 1% of the sum of total interest income not disclosed separately elsewhere, are presented below for each of (Dollars in Thousands) 2021 2020 2019 Legal Fees $ 1,411 $ 1,570 $ 1,722 Professional Fees 5,633 4,863 4,345 Telephone 2,975 2,869 2,645 Advertising 2,683 2,998 2,056 Processing Services 6,569 5,832 5,779 Insurance – Other 2,096 1,607 1,007 Pension – Other 1,913 (216) 1,642 Other 12,242 11,396 9,079 Total $ 35,522 $ 30,919 $ 28,275 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies [Abstract] | |
COMMITMENTS AND CONTINGENCIES | Note 21 COMMITMENTS AND CONTINGENCIES Lending Commitments . business to meet the financing needs of its clients. standby letters of credit. The Company’s maximum exposure represented by the contractual amount of those instruments. commitments and issuing letters of credit as it does for on-balance sheet instruments. with the Company’s off-balance 2021 2020 (Dollars in Thousands) Fixed Variable Total Fixed Variable Total Commitments to Extend Credit (1) $ 217,531 $ 505,897 $ 723,428 $ 160,372 $ 596,572 $ 756,944 Standby Letters of Credit 5,205 - 5,205 6,550 - 6,550 Total $ 222,736 $ 505,897 $ 728,633 $ 166,922 $ 596,572 $ 763,494 (1) Commitments to extend credit are agreements to lend to a client so long as there is no the contract. Commitments generally have fixed expiration dates or other Since many of the commitments are expected to expire without being necessarily represent future cash requirements. Standby letters of credit are conditional commitments issued by the party. general, management does not anticipate any material losses as a result of any potential losses arising from such transactions are reserved for in the same manner credit facilities. For both on- and off-balance sheet financial instruments, the Company deemed necessary. obtained upon extension of credit is based on management’s may include deposits held in financial institutions; U.S. Treasury receivable; property, The allowance for credit losses for off-balance sheet credit commitments adjusted as a provision for credit loss expense and is recorded in other liabilities. allowance. (Dollars in Thousands) 2021 2020 2019 Beginning Balance $ 1,644 $ 157 $ 160 Impact of Adoption of ASC 326 - 876 - Provision for Credit Losses 1,253 611 (3) Ending Balance $ 2,897 $ 1,644 $ 157 Other Commitments . operating leases. Contingencies . opinion, there are no known pending claims or litigation, the outcome of material effect on the consolidated results of operations, Indemnification Obligation . are required to indemnify it for potential future settlement of certain litigation antitrust lawsuits challenging the practices of Visa U.S.A. network, obtained Class B shares of Visa, has funded a litigation reserve for the Covered Litigation resulting in a reduction in the During the first quarter of 2011, the Company into a swap contract with the purchaser of the shares that requires a payment to the subsequent revisions to the conversion ratio for its Class B shares. quarterly until the litigation reserve is fully liquidated and at which time the Conversion ratio payments and ongoing fixed quarterly charges 2021 totaled $ 0.8 0.7 0.6 |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Measurements [Abstract] | |
FAIR VALUE MEASUREMENTS | Note 22 FAIR VALUE The fair value of an asset or liability is the price that would be received to sell that asset or paid orderly transaction occurring in the principal market (or most advantageous market asset or liability. the income approach and/or the cost approach. include the assumptions that market participants would use in pricing hierarchy for valuation inputs that gives the highest priority to quoted prices the lowest priority to unobservable inputs. ● Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting the ability to access at the measurement date . ● Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, directly or indirectly. for identical or similar assets or liabilities in markets that are not active, observable for the asset or liability (such as interest rates, volatilities, prepayment are derived principally from, or corroborated, by market data by correlation . ● Level 3 Inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an assumptions about the assumptions that market participants would Assets and Liabilities Measured at Fair Value Securities Available for Sale. U.S. Treasury securities are reported at fair value classified as available for sale are reported at fair value utilizing Level 2 inputs. value measurements from an independent pricing service. include dealer quotes, market spreads, cash flows, the U.S. Treasury information and the bond’s In general, the Company does not purchase securities that have a complicated structure. of traditional investments, nearly all of which are U.S. Treasury securities, or general obligation or revenue based municipal bonds. annually, the Company from an independent third-party source. Loans Held for Sale . The fair value of residential mortgage loans held for sale based on Level 2 inputs is determined, possible, using either quoted secondary-market prices or investor commitments. determined using quoted prices for a similar asset or assets, adjusted for by other market participants. The Company has elected the fair value option Mortgage Banking Derivative Instruments. The fair values of interest rate lock commitments are derived by valuation incorporating market pricing for instruments with similar characteristics, commonly investor commitment prices for best effort IRLCs which have servicing rights expected to be recorded upon sale of the loans, net estimated costs to rate, and are therefore classified as Level 3 within the fair value hierarchy. on observable market pricing for similar instruments and are therefore Interest Rate Swap. The Company’s derivative positions are using models generally accepted in the financial services industry and from external market data providers. The fair value derivatives are determined Fair Value . valuation represents the amount due and payable to the counterparty based upon the period. 0.1 No A summary of fair values for assets and liabilities at December 31 consisted (Dollars in Thousands) Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Value 2021 ASSETS: Securities Available for U.S. Government Treasury $ 187,868 $ - $ - $ 187,868 U.S. Government Agency - 237,578 - 237,578 States and Political Subdivisions - 46,980 - 46,980 Mortgage-Backed Securities - 88,869 - 88,869 Corporate Debt Securities - 86,222 - 86,222 Other Securities - 7,094 - 7,094 Held for Sale Loans - 52,532 - 52,532 Interest Rate Swap Derivative - 2,050 - 2,050 Mortgage Banking IRLC Derivative - - 1,258 1,258 Mortgage Servicing Rights $ - $ - $ 4,718 $ 4,718 LIABILITIES: Mortgage Banking Hedge Derivative $ - $ 7 $ - $ 7 2020 ASSETS: Securities Available for U.S. Government Treasury $ 104,519 $ - $ - $ 104,519 U.S. Government Agency - 208,531 - 208,531 State and Political Subdivisions - 3,632 - 3,632 Mortgage-Backed Securities - 515 - 515 Other Securities - 7,673 - 7,673 Held for Sale Loans - 114,039 - 114,039 Interest Rate Swap Derivative - 574 - 574 Mortgage Banking IRLC Derivative $ - $ - $ 4,825 $ 4,825 LIABILITIES: Mortgage Banking Hedge Derivative $ - $ 907 $ - $ 907 Mortgage Banking Activities. The Company had Level 3 issuances and transfers of $ 31.3 47.7 ended December 31, 2021 related to mortgage banking activities. 50.7 million and $ 56.0 value of the underlying mortgage loan from inception of the IRLC to the statement of through rates and costs to originate. loans held for sale, at fair value. Assets Measured at Fair Value Certain assets are measured at fair value on a non-recurring basis (i.e., the basis but are subject to fair value adjustments in certain circumstances). impairment. Collateral Dependent Loans . selling costs. banking regulations. judgment and estimation involved in the real estate appraisal process. at least a quarterly basis for additional impairment and adjusted accordingly. techniques applied in prior periods. 2.8 $ 0.2 7.1 $ 0.1 Other Real Estate Owned . at fair value through a charge-off to the allowance cost to sell. conformance with banking regulations. valuation adjustments as necessary. estimation involved in the real estate valuation process. Mortgage Servicing Rights . Residential mortgage loan servicing rights are evaluated for impairment based upon the fair value of the rights as compared to the carrying amount. model using estimated prepayment speeds of the underlying mortgage characteristics of the underlying loans (predominantly loan type and note inputs, including a discount rate, weighted average prepayment speed, inputs utilized are provided in Note 4 – Mortgage Banking Activities. Assets and Liabilities Disclosed at Fair Value The Company is required to disclose the estimated fair value of financial instruments, practical to estimate fair value and the following is a description of valuation Cash and Short-Term The carrying amount of cash and short-term investments is used to approximate given the short time frame to maturity and as such assets do not present unanticipated Securities Held to Maturity . caption “Assets and Liabilities Measured at Fair Value Loans. techniques based upon projected cash flows and estimated discount Recognition and Measurement of Financial Assets and Financial , the values reported reflect the incorporation of a liquidity discount to meet the objective of “exit price” valuation. Deposits. the amounts payable on demand at the reporting date. The fair value of present value techniques and rates currently offered for deposits of similar remaining Subordinated Notes Payable. flows and estimated discount rates as well as rates being offered Short-Term projected cash flows and estimated discount rates as well as rates being offered A summary of estimated fair values of significant financial instruments at December 2021 (Dollars in Thousands) Carrying Level 1 Level 2 Level 3 Value Inputs Inputs Inputs ASSETS: Cash $ 65,313 $ 65,313 $ - $ - Short-Term Investments 970,041 970,041 - - Investment Securities, Available 654,611 187,868 466,743 - Investment Securities, Held to Maturity 339,601 113,877 225,822 - Equity Securities (1) 861 - 861 - Loans Held for Sale 52,532 - 52,532 - Other Equity Securities (2) 2,848 - 2,848 - Interest Rate Swap Derivative 2,050 - 2,050 - Mortgage Servicing Rights 3,774 - - 4,718 Mortgage Banking IRLC Derivative 1,258 - - 1,258 Loans, Net of Allowance for Credit Losses $ 1,909,859 $ - $ - $ 1,903,640 LIABILITIES: Deposits $ 3,712,862 $ - $ 3,713,478 $ - Short-Term 34,557 - 34,557 - Subordinated Notes Payable 52,887 - 42,609 - Long-Term Borrowings 884 - 938 - Mortgage Banking Hedge Derivative $ 7 $ - $ 7 $ - (1) (2) 2020 (Dollars in Thousands) Carrying Level 1 Level 2 Level 3 Value Inputs Inputs Inputs ASSETS: Cash $ 67,919 $ 67,919 $ - $ - Short-Term Investments 860,630 860,630 - - Investment Securities, Available 324,870 104,519 220,351 - Investment Securities, Held to Maturity 169,939 5,014 170,161 - Loans Held for Sale 114,039 - 114,039 - Other Equity Securities (1) 3,589 - 3,589 - Interest Rate Swap Derivative 574 - 574 - Mortgage Servicing Rights 3,452 - - 3,451 Mortgage Banking IRLC Derivative 4,825 - - 4,825 Loans, Net of Allowance for Credit Losses $ 1,982,610 $ - $ - $ 1,990,740 LIABILITIES: Deposits $ 3,217,560 $ - $ 3,217,615 $ - Short-Term 79,654 - 79,654 - Subordinated Notes Payable 52,887 - 43,449 - Long-Term Borrowings 3,057 - 3,174 - Mortgage Banking Hedge Derivative $ 907 $ - $ 907 $ - All non-financial instruments are excluded from the above table. aggregate fair value amounts presented do not represent the underlying |
PARENT COMPANY FINANCIAL INFORM
PARENT COMPANY FINANCIAL INFORMATION | 12 Months Ended |
Dec. 31, 2021 | |
Parent Company Financial Information [Abstract] | |
PARENT COMPANY FINANCIAL INFORMATION | Note 23 PARENT COMPANY The following are condensed statements of financial condition of the parent company Parent Company Statements of Financial Condition (Dollars in Thousands, Except Per Share 2021 2020 ASSETS Cash and Due From Subsidiary Bank $ 25,768 $ 39,718 Equity Securities 120 - Investment in Subsidiary Bank 415,580 342,958 Goodwill and Other Intangibles 4,158 - Other Assets 7,866 6,530 Total Assets $ 453,492 $ 389,206 LIABILITIES Long-Term Borrowings $ - $ 900 Subordinated Notes Payable 52,887 52,887 Other Liabilities 17,439 14,582 Total Liabilities $ 70,326 $ 68,369 SHAREOWNERS’ EQUITY Common Stock, $ .01 90,000,000 16,892,060 16,790,573 issued and outstanding at December 31, 2021 and 2020, respectively 169 168 Additional Paid-In Capital 34,423 32,283 Retained Earnings 364,788 332,528 Accumulated Other Comprehensive Loss, Net of Tax (16,214) (44,142) Total Shareowners’ 383,166 320,837 Total Liabilities and Shareowners’ $ 453,492 $ 389,206 The operating results of the parent company for the three years ended December Parent Company Statements of Operations (Dollars in Thousands) 2021 2020 2019 OPERATING INCOME Income Received from Subsidiary Bank: Administrative Fees $ 5,516 $ 6,068 $ 6,517 Dividends 10,000 21,000 19,000 Other Income 174 193 203 Total Operating 15,690 27,261 25,720 OPERATING EXPENSE Salaries and Associate Benefits 3,558 3,418 3,928 Interest on Subordinated Notes Payable 1,233 1,514 2,381 Professional Fees 1,113 1,079 1,196 Advertising 134 140 157 Legal Fees 589 456 391 Other 2,087 1,673 1,711 Total Operating 8,714 8,280 9,764 Earnings Before Income Taxes Earnings of Subsidiary Bank 6,976 18,981 15,956 Income Tax Benefit (717) (406) (632) Earnings Before Equity in Undistributed Earnings of Subsidiary Bank 7,693 19,387 16,588 Equity in Undistributed Earnings of Subsidiary Bank 25,703 12,189 14,219 Net Income $ 33,396 $ 31,576 $ 30,807 The cash flows for the parent company for the three years ended December 31 were Parent Company Statements of Cash Flows (Dollars in Thousands) 2021 2020 2019 CASH FLOWS FROM OPERATING Net Income $ 33,396 $ 31,576 $ 30,807 Adjustments to Reconcile Net Income to Net Cash Provided By Equity in Undistributed Earnings of Subsidiary Bank (25,703) (12,189) (14,219) Stock Compensation 843 892 1,569 Amortization of Intangible Asset 107 - - Increase in Other Assets (21) (217) (445) Increase in Other Liabilities 3,131 1,900 1,557 Net Cash Provided By Operating Activities $ 11,753 $ 21,962 $ 19,269 CASH FROM INVESTING ACTIVITIES: Purchase of Equity Securities $ (120) $ - $ - Net Cash Paid for Acquisition (4,482) - - Increase in Investment in Subsidiaries (10,770) - - Net Cash Used in Investing Activities $ (15,372) $ - $ - CASH FROM FINANCING ACTIVITIES: Repayment of Long-Term (900) (600) (600) Dividends Paid (10,459) (9,567) (8,047) Issuance of Common Stock Under Compensation Plans 1,028 1,041 1,054 Payments to Repurchase Common Stock - (2,042) (1,805) Net Cash Used In Financing Activities $ (10,331) $ (11,168) $ (9,398) Net (Decrease) Increase in Cash (13,950) 10,794 9,871 Cash at Beginning of Year 39,718 28,924 19,053 Cash at End of Year $ 25,768 $ 39,718 $ 28,924 |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Significant Accounting Policies Policies | |
Nature of Operations | Nature of Operations Capital City Bank Group, Inc. (“CCBG”) provides a full range of banking corporate clients through its subsidiary, Company is subject to competition from other financial institutions, is subject to regulation undergoes periodic examinations by those regulatory |
Basis of Presentation | Basis of Presentation The consolidated financial statements include the accounts of CCBG and or the “Bank” and together with CCBG, the “Company”). eliminated in consolidation. The Company, which Florida, Georgia, and Alabama, follows accounting principles generally practices applicable to the banking industry. and cash flows are summarized below. The Company determines whether it has a controlling financial interest in an voting interest entity or a variable interest entity under accounting principles Voting independently and provide the equity holders with the obligation to absorb losses, the right to make decisions about the entity’s least a majority of, the voting interest. entities that lack one or more of the characteristics of a voting interest entity. present when an enterprise has a variable interest, or a combination of variable expected losses, receive a majority of the entity’s interest, known as the primary beneficiary, Trust I (established November 1, 2004) and is not the primary beneficiary. financial statements. Certain previously reported amounts have been reclassified to conform evaluated subsequent events for potential recognition and/or disclosure included in this Annual Report on Form 10-K were filed with the |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting America requires management to make estimates and assumptions that affect disclosure of contingent assets and liabilities at the date of financial statements and expenses during the reporting period. susceptible to significant changes in the near-term income taxes, loss contingencies, valuation of other real estate owned, and impairment. |
Business Combination | Business Combination On April 30, 2021, a newly formed subsidiary of CCBG, Capital City Strategic Wealth, of the assets of Strategic Wealth carrier agreements, and the assignment of all related revenues thereof. principles became officers of CCSW and will continue the operation management services and comprehensive risk management and CCBG paid $ 4.5 2.8 1.6 million. On March 1, 2020, CCB completed its acquisition of a 51 % membership interest in Brand Mortgage Group, LLC (“Brand”), which is now operated as Capital City Home Loans (“CCHL”). effective March 1, 2020. 52 totaled $ 42 alliance with Brand was to gain access to an expanded residential mortgage product mandatory delivery channel for loan sales), to hedge our net interest income and cost savings. 7.1 51 % membership interest and entered into a buyout agreement for the remaining 49 % noncontrolling interest resulting in temporary equity with a fair value of $ 7.4 $ 4.3 include Brand’s strong management synergies created as part of the strategic alliance. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements On January 1, 2020, the Company adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic Credit Losses on Financial Instruments , which replaces the incurred loss methodology with an expected referred to as the current expected credit loss (“CECL”) methodology. CECL methodology is applicable to financial assets measured at debt securities. letters of credit, financial guarantees, and other 326-30 provides a new credit loss model for available-for-sale to be presented as an allowance rather than as a write-down on available-for to sell or believes that it is not more likely than not they will be required to modified retrospective method for all financial assets measured at amortized accounting policies changed significantly with the adoption of were based on incurred credit losses in accordance with accounting policies Statements included in the 2019 Form 10-K. 4.0 3.3 increase in the allowance for credit losses and $ 0.7 account)) that was offset by a corresponding decrease in 3.1 0.9 tax assets. in the 2020 Form 10-K for additional information regarding the impact The Company also adopted ASU 2019-12 “ Income Taxes 2020-01 “ Investments – Equity Securities (Topic ASU 2020-08 “ Codification Improvements to Subtopic 310-20, Receivables and ASU 2020- 09 “ Debt (Topic with no material impact on its financial statements. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash and due from banks, interest-bearing sold. Generally, days or less. percentage of deposits. zero . The Company maintains certain cash balances that are restricted under agreements. 0.5 |
Investment Securities | Investment Securities Investment securities are classified as held-to-maturity (“HTM”) and intent and ability to hold them until maturity. classified as available-for-sale (“AFS”) and carried at fair value. have readily determinable fair values, are measured at cost and remeasured transaction prices. risk management purposes, we further segment investment securities by profile: U.S. government treasury, corporate debt securities. Federal Home Loan Bank, are classified as available-for-sale and carried Interest income includes amortization and accretion of purchase premiums from the amortized cost of the security sold. determined using the specific identification method. recorded at amortized cost plus or minus any unrealized gain or loss at the time loss continues to be reported in accumulated other comprehensive income income over the remaining life of the security. Subsequent to transfer, the allowance policy for held-to-maturity securities. presented on a gross basis in the consolidated statement of income. The accrual of interest is generally suspended on securities more than a security is placed on nonaccrual status, all previously accrued and uncollected interest thus not included in the estimate of credit losses. Credit losses and changes thereto, are established as an allowance for Losses are charged against the allowance when management either of the criteria regarding intent or requirement to sell is met. Certain debt securities in the Company’s explicitly or implicitly guaranteed by the U.S. government. securities indicates that the expectation of nonpayment of the amortized technically default. government guaranteed treasuries. credit losses due to the zero loss assumption. Impairment - Available . Unrealized gains on available-for-sale securities are excluded from income. sell, or whether it is more likely than not it will be required to sell the security before either of the criteria regarding intent or requirement to sell is met, the security’s through income. Company evaluates whether the decline in fair value has resulted from management considers the extent to which fair value is less than amortized rating agency, and credit loss exists, the present value of cash flows to be collected from the security security. an allowance for credit losses is recorded through a provision for than the amortized cost basis. Allowance for Credit Losses - Held-to-Maturity Management measures expected credit losses on each individual held-to-maturity debt a zero assumption. value, or the difference between the discounted recorded amortized basis of the security. through a provision for credit loss expense. |
Loans Held for Invesment | Loans Held for Investment Loans held for investment (“HFI”) are stated at amortized cost which includes and discounts, and net deferred loan fees and costs. included in the amortized cost basis of loans. principal balances and includes loan late fees. amortized over the life of the loan as a yield adjustment. The Company defines loans as past due when one full payment is past due or accrual of interest is generally suspended on loans more than 90 days past placed on nonaccrual status, all previously accrued and uncollected election has been made to not include in the estimate of credit losses. ultimate collectability is no longer considered doubtful. amounts contractually due are brought current or when future payments Loan charge-offs on commercial and loan confirm the loan is not fully collectible and the loss is reasonably quantifiable. determinations are the borrower’s and any guarantor’s (if applicable), and collateral value. Examination Council’s (FFIEC) standards for the classification and treatment of consumer loans, which delinquency. The Company has adopted comprehensive lending policies, underwritin maximize loan income within an acceptable level of risk. concentrations, loan delinquencies, nonperforming and potential problem review of loan portfolio quality and trends by Management and the Credit estimating the allowance for credit losses. |
Allowance for Credit Losses | Allowance for Credit Losses The allowance for credit losses is a valuation account that is deducted from amount expected to be collected on the loans. reported in earnings, and reduced by the charge-off allowance when management believes the uncollectability of a loan aggregate of amounts previously charged-off off-balance sheet credit exposures is accounted for as a separate liability Management past events, current conditions, and reasonable and supportable forecasts. starting basis for the estimation of expected credit losses. view of current conditions and forecasts. The methodology for estimating the amount of credit losses reported in first, an asset-specific component involving loans that do not share risk losses for such individual loans; and second, a pooled component for risk characteristics. Loans That Do Not Share Risk Characteristics (Individually Loans that do not share similar risk characteristics are evaluated on an individual have differing risk characteristics and are individually dependent when the borrower is experiencing financial difficulty sale of the underlying collateral. measured based on the difference between the fair asset. by ASC 326-20 to measure the expected credit loss under the same approach as those loans with balances greater than $ 250,000 underlying collateral. 250,000 , the Company has made a policy election to measure expected loss for these individual loans utilizing loss rates for similar loan types. collateral dependent troubled debt restructurings. Loans That Share Similar Risk Characteristics (Pooled The general steps in determining expected credit losses for the pooled ● Segment loans into pools according to similar risk characteristics ● Develop historical loss rates for each loan pool segment ● Incorporate the impact of forecasts ● Incorporate the impact of other qualitative factors ● Calculate and review pool specific allowance for credit loss estimate A discounted cash flow (“DCF”) methodology is utilized to calculate expected The discounted present value of expected cash flow is then compared to loss estimate. The primary inputs used to calculate expected cash flows include historical and loss given default (“LGD”), and prepayment rates. rate and is based on management’s assessment the Company’s risk rating process are reflect the historical average net loss rate by loan pool. prepayments which will vary by loan segment and interest rate conditions. prepayment rates occurring in the loan portfolio and consideration of forecasted In developing loss rates, adjustments are made to incorporate the impact applied, including the length of the forecast and reversion periods. able to make a reasonable and supportable assessment of future conditions. management believes it can develop a reasonable and supportable forecast, the use of historical default and loss rates. and reversion periods are periodically evaluated and based on management’s may vary by loan pool. utilizes established industry and economic data points and sources, the forecasted unemployment rate being a significant factor. on management’s assessment of Reversion period PD rates reflect the difference between adjustment over the reversion period. Loss rates are further adjusted to account for other risk factors that impact loan on management’s assessment of and external factors that are independent of and not reflected in the quantitative considers in this assessment include trends in underwriting standards, loan review systems, collateral valuations, concentrations, legal/regulatory/pol natural disasters. Allowance for Credit Losses on Off-Balance The Company estimates expected credit losses over the contractual period contractual obligation to extend credit, unless that obligation is unconditionally credit losses on off-balance sheet credit exposures is adjusted as a provision liabilities. on commitments expected to be funded over its estimated life and applies the outstanding loan balances by segment. the allowance for credit losses with similar risk characteristics that have Mortgage Banking Activities Mortgage Loans Held for Sale and Revenue Recognition Mortgage loans held for sale (“HFS”) are carried at fair value under the fair value mortgage banking revenues on the consolidated statements of investors is calculated using observable market information such mandatory delivery commitment prices. The Company bases loans mortgage backed security (MBS) prices. The fair value of mortgage quoted best execution secondary market prices. If no such quoted price a similar asset or assets, such as MBS prices, adjusted for the specific attributes of participants. Gains and losses from the sale of mortgage loans held for sale are recognized based proceeds and carrying value of the related loans upon sale and are recorded statements of income. Sales proceeds reflect the cash received from investors premium. If the related mortgage loan is sold servicing retained, the MSR addition the consolidated statements of income. the changes in the fair value of mortgage loans held for sale, and the realized instruments. Mortgage loans held for sale are considered sold when the Company surrenders considered to have been surrendered when the transferred assets have been Company and its creditors; the purchaser obtains the right (free of conditions to pledge or exchange the transferred assets; and the Company does not through either an agreement that both entitles and obligates the Company their maturity or the ability to unilaterally cause the holder to return specific criteria to have been met upon acceptance and receipt of sales proceeds Government National Mortgage Association (GNMA) optional repurchase individual delinquent mortgage loans that meet certain criteria from servicing. for an amount equal to 100 percent of the remaining principal balance of (“FASB”) ASC Topic delinquency criteria are met, at which time the option becomes unconditional. effective control over these loans under the unconditional buy-back be brought back onto the statement of financial condition, These loans are reported in other assets with the offsetting liability Derivative Instruments (IRLC/Forward Commitments) The Company holds and issues derivative financial instruments such as interest sale commitments. IRLCs are subject to price risk primarily related to rate risk on certain IRLCs, the Company uses forward sale commitments, mandatory delivery commitments with investors. Management fair value opposite to the changes in fair value of the also used to hedge the interest rate risk on mortgage loans held for sale that price risk. If the mandatory delivery commitments are not fulfilled, the commitments are also executed with investors, whereby certain loans to an investor at a fixed price. If the best effort IRLC does not fund, |
Mortgage Banking Activities | Mortgage Banking Activities Mortgage Loans Held for Sale and Revenue Recognition Mortgage loans held for sale (“HFS”) are carried at fair value under the fair value mortgage banking revenues on the consolidated statements of investors is calculated using observable market information such mandatory delivery commitment prices. The Company bases loans mortgage backed security (MBS) prices. The fair value of mortgage quoted best execution secondary market prices. If no such quoted price a similar asset or assets, such as MBS prices, adjusted for the specific attributes of participants. Gains and losses from the sale of mortgage loans held for sale are recognized based proceeds and carrying value of the related loans upon sale and are recorded statements of income. Sales proceeds reflect the cash received from investors premium. If the related mortgage loan is sold servicing retained, the MSR addition the consolidated statements of income. the changes in the fair value of mortgage loans held for sale, and the realized instruments. Mortgage loans held for sale are considered sold when the Company surrenders considered to have been surrendered when the transferred assets have been Company and its creditors; the purchaser obtains the right (free of conditions to pledge or exchange the transferred assets; and the Company does not through either an agreement that both entitles and obligates the Company their maturity or the ability to unilaterally cause the holder to return specific criteria to have been met upon acceptance and receipt of sales proceeds Government National Mortgage Association (GNMA) optional repurchase individual delinquent mortgage loans that meet certain criteria from servicing. for an amount equal to 100 percent of the remaining principal balance of (“FASB”) ASC Topic delinquency criteria are met, at which time the option becomes unconditional. effective control over these loans under the unconditional buy-back be brought back onto the statement of financial condition, These loans are reported in other assets with the offsetting liability Derivative Instruments (IRLC/Forward Commitments) The Company holds and issues derivative financial instruments such as interest sale commitments. IRLCs are subject to price risk primarily related to rate risk on certain IRLCs, the Company uses forward sale commitments, mandatory delivery commitments with investors. Management fair value opposite to the changes in fair value of the also used to hedge the interest rate risk on mortgage loans held for sale that price risk. If the mandatory delivery commitments are not fulfilled, the commitments are also executed with investors, whereby certain loans to an investor at a fixed price. If the best effort IRLC does not fund, The Company considers various factors and strategies in determining held for sale to economically hedge. consolidated statements of financial condition at their fair value. Changes recognized in mortgage banking revenues on the consolidated losses resulting from the pairing-out of forward sale commitments are consolidated statements of income. The Company accounts for and does not designate any for hedge accounting. Mortgage Servicing Rights (“MSRs”) and Revenue Recognition The Company sells residential mortgage loans in the secondary market and sale, an MSR asset is capitalized, which represents the then current fair value of performing servicing activities. fair value measurement method, the Company follows the amortization (other income) in proportion to and over the period of estimated net servicing reporting date. value, and included in other assets, net, on the consolidated statements of financial The Company periodically evaluates its MSRs asset for impairment. date using estimated prepayment speeds of the underlying mortgage characteristics of the underlying loans (predominantly loan type and note prepayment speeds are usually faster and the value of the MSRs asset generally Conversely, as mortgage increases, requiring less valuation reserve. amortized cost of the MSRs exceeds the estimated fair value by stratification. temporary impairment no longer exists for a stratification, the valuation temporary impairment (i.e., recoverability is considered remote when recognized as a write-down of the MSRs asset and the related valuation allowance available) and then against earnings. valuation allowance, precluding subsequent recoveries. Derivative/Hedging Activities At the inception of a derivative contract, the Company designates the derivative intentions and belief as to the likely effectiveness as a hedge. These asset or liability or of an unrecognized firm commitment ("fair value variability of cash flows to be received or paid related to a recognized with no hedging designation ("standalone derivative"). For a fair value hedge, offsetting loss or gain on the hedged item, are recognized gain or loss on the derivative is reported in other comprehensive income during which the hedged transaction affects earnings. not highly effective in hedging the changes in fair value current earnings. Net cash settlements on derivatives that qualify for expense, based on the item being hedged. Net cash settlements on derivatives reported in non-interest income. Cash flows on hedges are classified in the cash flow items being hedged. The Company formally documents the relationship between derivatives objective and the strategy for undertaking hedge transactions at the inception includes linking fair value or cash flow hedges to specific assets and liabilities on specific firm commitments or forecasted transactions. The Company an ongoing basis, whether the derivative instruments that are used are flows of the hedged items. The Company discontinues hedge accounting effective in offsetting changes in the fair value forecasted transaction is no longer probable, a hedged firm commitment hedge is no longer appropriate or intended. When hedge accounting is discontinued, derivative are recorded as non-interest income. When a fair value hedge adjusted for changes in fair value and the existing basis adjustment is amortized liability. When a cash flow gains or losses that were accumulated in other comprehensive income the hedged transactions will affect earnings. |
Derivative/Hedging Activities | Derivative/Hedging Activities At the inception of a derivative contract, the Company designates the derivative intentions and belief as to the likely effectiveness as a hedge. These asset or liability or of an unrecognized firm commitment ("fair value variability of cash flows to be received or paid related to a recognized with no hedging designation ("standalone derivative"). For a fair value hedge, offsetting loss or gain on the hedged item, are recognized gain or loss on the derivative is reported in other comprehensive income during which the hedged transaction affects earnings. not highly effective in hedging the changes in fair value current earnings. Net cash settlements on derivatives that qualify for expense, based on the item being hedged. Net cash settlements on derivatives reported in non-interest income. Cash flows on hedges are classified in the cash flow items being hedged. The Company formally documents the relationship between derivatives objective and the strategy for undertaking hedge transactions at the inception includes linking fair value or cash flow hedges to specific assets and liabilities on specific firm commitments or forecasted transactions. The Company an ongoing basis, whether the derivative instruments that are used are flows of the hedged items. The Company discontinues hedge accounting effective in offsetting changes in the fair value forecasted transaction is no longer probable, a hedged firm commitment hedge is no longer appropriate or intended. When hedge accounting is discontinued, derivative are recorded as non-interest income. When a fair value hedge adjusted for changes in fair value and the existing basis adjustment is amortized liability. When a cash flow gains or losses that were accumulated in other comprehensive income the hedged transactions will affect earnings. |
Long-Lived Assets | Long-Lived Assets Premises and equipment is stated at cost less accumulated depreciation, useful lives for each type of asset with premises being depreciated over 10 40 depreciated over a range of 3 10 depreciated over the lesser of the useful life or the remaining lease term. expense as incurred. Long-lived assets are evaluated for impairment if circumstances suggest that comparing the carrying value to estimated undiscounted cash flows. recorded equal to the carrying value less the fair value. See Note 6 – Premises and |
Leases | Leases The Company has entered into various operating leases, primarily for terms from one to ten years. at the Company’s sole discretion. Certain of the lease contain early termination options. calculation of the operating right-of-use assets or operating lease liabilities. adjustments to rental payments for inflation. the present value of the lease payments not yet paid, discounted using incremental borrowing rate. incremental borrowing rate at the commencement date in determining borrowing rate is based on the term of the lease. that commenced prior to that date. the initial measurement of the lease liability; (ii) any lease payments any lease incentives received; and (iii) any initial direct costs incurred by the less are not recorded on the Statement of Financial Condition. straight-line basis over the lease term. additional information. |
Bank Owned Life Insurance (BOLI) | Bank Owned Life Insurance (BOLI) The Company, through insurance is recorded at the amount that can be realized under the insurance which is the cash surrender value adjusted for other charges or |
Goodwill and Intangibles | Goodwill and Other Intangibles Goodwill represents the excess of the cost of businesses acquired over the fair with FASB ASC Topic annually during the fourth quarter or on an interim basis if an event occurs not reduce the fair value of the reporting unit below its carrying value. purchased as part of a business acquisition. circumstances indicate the carrying amount of the assets may not – Goodwill and Other Intangibles for additional information |
Other Real Estate Owned | Other Real Estate Owned Assets acquired through, or in lieu of, loan foreclosure are held for sale and are less estimated selling costs, establishing a new cost basis. management and the assets are carried at the lower of carrying amount or fair value assets is subjective in nature and may be adjusted in the future because of changes in economic expenses from operations and changes in value are included in noninterest |
Loss Contingencies | Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary the likelihood of loss is probable and an amount or range of loss can be reasonably Contingencies for additional information. |
Noncontrolling Interest | Noncontrolling Interest To the extent recognizes noncontrolling interests in subsidiaries. Combination), the noncontrolling interest represents equity which is redeemable holder and is classified within temporary equity in the mezzanine The call/put option is redeemable at the option of either CCBG (call) or the January 1, 2025, and therefore, not entirely within CCBG’s allocated to CCBG and the noncontrolling interest holder based on their relative interest carrying value is adjusted on a quarterly basis to the higher of Statement of Financial Condition date, through a corresponding adjustment calculated quarterly and is based on the higher of a predetermined book value redemption value exceeds the fair value of the noncontrolling interest, shareowners is adjusted by that amount. of the noncontrolling interest using: 1) the discounted cash flow methodology public company methodology under the market approach. each of the two methodologies. volumes; (2) projected pre-tax profit margins; (3) tax rates |
Income Taxes | Income Taxes Income tax expense is the total of the current year income tax due or refundable liabilities (excluding deferred tax assets and liabilities related to business income). amounts and tax bases of assets and liabilities, computed using enacted tax deferred tax assets to the expected amount most likely to be realized. generation of a sufficient level of future taxable income and recoverable to settlements of share-based payment awards are reported in earnings as an The Company files a consolidated federal income tax return and a separate separate state income tax return. |
Earnings Per Common Share | Earnings Per Common Share Basic earnings per common share is based on net income divided by the weighted during the period excluding non-vested stock. non-vested stock awards granted using the treasury stock method. calculating basic earnings per common share and the weighted average common share for the reported periods is provided in Note 16 — Earnings |
Comprehensive Income | Comprehensive Income Comprehensive income includes all changes in shareowners’ equity shareowners. changes in the net unrealized gain/loss on securities available for sale and supplemental executive retirement plans. Comprehensive Income and Changes in Shareowners’ Equity. |
Stock Based Compensation | Stock Based Compensation Compensation cost is recognized for share-based awards issued to employees, of grant. price of the Company’s common a Black-Scholes model is utilized to estimate the fair value of the award. compensation expense is recognized as forfeitures occur. |
Revenue Recognition | Revenue Recognition ASC 606, Revenue from Contracts with Customers ("ASC 606"), nature, amount, timing and uncertainty of revenue and cash flows arising to customers. The core principle requires an entity to recognize revenue an amount that reflects the consideration that it expects to be entitled to receive recognized as performance obligations are satisfied. The majority of the Company’s revenue financial instruments, such as our loans, letters of credit, and investment mortgages in the secondary market, as these activities are subject to other Company recognizes revenue from these activities as it is earned based are provided and collectability is reasonably assured. scope of ASC 606, which are presented in the accompanying statements follows: Deposit Fees - these represent general service fees for monthly account consist of transaction-based revenue, time-based revenue (service period), based revenue. account maintenance services or when a transaction has been completed. received at the time the performance obligations are satisfied. Wealth Management as consideration for managing the client’s services and similar fiduciary activities. Revenue is recognized when month or quarter, which is the time that payment dealer, for which the Company acts as an agent, referred to the third party. basis and recognized ratably throughout the quarter as the Company’s Bank Card Fees – bank card related fees primarily includes interchange cards. Interchange fees are set by the credit card associations and are based on cardholder interchange income as transactions occur. Gains and Losses from the Sale of Bank Owned Property – the performance typically will be the delivery of control over the property to the buyer. the transaction price is typically identified in the purchase and sale agreement. financing, the Company must determine a transaction price, depending account the credit risk inherent in the arrangement. Insurance Commissions – insurance commissions recorded by the contractual agreements to sell policies to customers on behalf of sell life and health insurance policies to customers. or when an existing policy renews. New policies and renewals generally have a one insurance carriers, a commission rate is agreed upon. The commission date) or when a policy renews. Other non-interest income primarily includes items such as mortgage loans held for sale), bank-owned life insurance, and safe deposit box fees, 606. The Company has made no significant judgments in applying the revenue determination of the amount and timing of revenue from the above-described |
Accounting standard updates | ASU 2020-04, "Reference Rate Reform (Topic ASU 2020-04 provides optional expedients and exceptions for applying GAAP to loan and lease agreements, derivative contracts, and other LIBOR toward new interest rate benchmarks. For transactions that are certain scope guidance (i) modifications of loan agreements should interest rate and the modification will be considered "minor" so that any forward and continue to be amortized and (ii) modifications of lease agreements existing agreement with no reassessments of the lease classification that otherwise would be required for modifications not accounted for as separate optional expedients for derivative accounting. may elect to apply ASU 2020-04 for contract modifications as of January period that includes or is subsequent to March 12, 2020, up to the date Once elected for a Topic prospectively for all eligible contract modifications for that Topic any modifications executed between the selected start date (yet to be determined) to LIBOR transition by allowing prospective recognition of contract resulting in writing off unamortized fees/costs. The Company believes the adoption of this guidance will not have a material impact on its consolidated financial statements. Further, ASU 2021-01, “Reference Rate Reform (Topic clarifies that certain optional expedients and exceptions in ASC 848 for derivatives that are affected by the discounting transition. to capture the incremental consequences of the scope clarification and The Company believes the adoption of this guidance will not have a material |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Investments Securities [Abstract] | |
Schedule of amortized cost and related market value of investment securities available-for-sale | Available for Amortized Unrealized Unrealized Allowance for Fair (Dollars in Thousands) Cost Gains Losses Credit Losses Value December 31, 2021 U.S. Government Treasury $ 190,409 $ 65 $ 2,606 $ - $ 187,868 U.S. Government Agency 238,490 1,229 2,141 - 237,578 States and Political Subdivisions 47,762 44 811 (15) 46,980 Mortgage-Backed Securities 89,440 27 598 - 88,869 Corporate Debt Securities 87,537 10 1,304 (21) 86,222 Other Securities (1) 7,094 - - - 7,094 Total $ 660,732 $ 1,375 $ 7,460 $ (36) $ 654,611 December 31, 2020 U.S. Government Treasury $ 103,547 $ 972 $ - $ - $ 104,519 U.S. Government Agency 205,972 2,743 184 - 208,531 States and Political Subdivisions 3,543 89 - - 3,632 Mortgage-Backed Securities 456 59 - - 515 Other Securities (1) 7,673 - - - 7,673 Total $ 321,191 $ 3,863 $ 184 $ - $ 324,870 Held to Maturity Amortized Unrealized Unrealized Fair (Dollars in Thousands) Cost Gains Losses Value December 31, 2021 U.S. Government Treasury $ 115,499 $ - $ 1,622 $ 113,877 Mortgage-Backed Securities 224,102 2,819 1,099 225,822 Total $ 339,601 $ 2,819 $ 2,721 $ 339,699 December 31, 2020 U.S. Government Treasury $ 5,001 $ 13 $ - $ 5,014 Mortgage-Backed Securities 164,938 5,223 - 170,161 Total $ 169,939 $ 5,236 $ - $ 175,175 (1) Includes Federal Home Loan Bank and Federal Reserve Bank recorded 2.0 5.1 2.9 4.8 |
Schedule of investment securities with maturity distribution based on contractual maturities | Available for Held to Maturity Amortized Fair Amortized Fair (Dollars in Thousands) Cost Value Cost Value Due in one year or less $ 40,322 $ 39,916 $ - $ - Due after one through five years 297,352 293,514 115,499 113,877 Due after five thru ten years 67,522 66,006 - - Mortgage-Backed Securities 89,440 88,869 224,102 225,822 U.S. Government Agency 159,002 159,212 - - Other Securities 7,094 7,094 - - Total $ 660,732 $ 654,611 $ 339,601 $ 339,699 |
Schedule of investment securities with continuous unrealized loss position | Less Than 12 Months Greater Than 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in Thousands) Value Losses Value Losses Value Losses December 31, 2021 Available for U.S. Government Treasury $ 172,206 $ 2,606 $ - $ - $ 172,206 $ 2,606 U.S. Government Agency 127,484 1,786 17,986 355 145,470 2,141 States and Political Subdivisions 42,122 811 - - 42,122 811 Mortgage-Backed Securities 81,832 598 - - 81,832 598 Corporate Debt Securities 69,354 1,304 - - 69,354 1,304 Total 492,998 7,105 17,986 355 510,984 7,460 Held to Maturity U.S. Government Treasury 113,877 1,622 - - 113,877 1,622 Mortgage-Backed Securities 115,015 1,099 - - 115,015 1,099 Total $ 228,892 $ 2,721 $ - $ - $ 228,892 $ 2,721 December 31, 2020 Available for U.S. Government Agency $ 28,266 $ 156 $ 4,670 $ 28 $ 32,936 $ 184 Total 28,266 156 4,670 28 32,936 184 |
LOANS HELD FOR INVESTMENT AND_2
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Loans, net [Abstract] | |
Schedule of composition of the loan portfolio | (Dollars in Thousands) 2021 2020 Commercial, Financial and Agricultural (1) $ 223,086 $ 393,930 Real Estate – Construction 174,394 135,831 Real Estate – Commercial Mortgage 663,550 648,393 Real Estate – Residential (2) 360,021 352,543 Real Estate – Home Equity 187,821 205,479 Consumer (3) 322,593 270,250 Loans Held for Investment, Net of Unearned Income $ 1,931,465 $ 2,006,426 (1) 0.1 175.3 (2) Includes loans in process with outstanding balances 13.6 10.9 (3) 1.1 0.7 |
Schedule of activity in the allowance for loan losses by portfolio class | Commercial, Real Estate Financial, Real Estate Commercial Real Estate Real Estate (Dollars in Thousands) Agricultural Construction Mortgage Residential Home Equity Consumer Total 2021 Beginning Balance $ 2,204 $ 2,479 $ 7,029 $ 5,440 $ 3,111 $ 3,553 $ 23,816 (227) 813 (1,679) (1,956) (1,125) 1,332 (2,842) (239) - (405) (108) (103) (3,972) (4,827) 453 10 865 753 413 2,965 5,459 214 10 460 645 310 (1,007) 632 Ending Balance $ 2,191 $ 3,302 $ 5,810 $ 4,129 $ 2,296 $ 3,878 $ 21,606 2020 Beginning Balance $ 1,675 $ 370 $ 3,416 $ 3,128 $ 2,224 $ 3,092 $ 13,905 488 302 1,458 1,243 374 (596) 3,269 578 1,757 1,865 940 486 3,409 9,035 (789) - (28) (150) (151) (5,042) (6,160) 252 50 318 279 178 2,690 3,767 (537) 50 290 129 27 (2,352) (2,393) Ending Balance $ 2,204 $ 2,479 $ 7,029 $ 5,440 $ 3,111 $ 3,553 $ 23,816 2019 Beginning Balance $ 1,434 $ 280 $ 4,181 $ 3,400 $ 2,301 $ 2,614 $ 14,210 664 371 (1,129) (301) 178 2,244 2,027 (768) (281) (214) (400) (430) (2,878) (4,971) 345 - 578 429 175 1,112 2,639 (423) (281) 364 29 (255) (1,766) (2,332) Ending Balance $ 1,675 $ 370 $ 3,416 $ 3,128 $ 2,224 $ 3,092 $ 13,905 |
Schedule of aging of the recorded investment in accruing past due loans by class of loans | 30-59 60-89 90 + Total Total Nonaccrual Total (Dollars in Thousands) DPD DPD DPD Past Due Current Loans Loans 2021 Commercial, Financial and Agricultural $ 100 $ 23 $ - $ 123 $ 222,873 $ 90 $ 223,086 Real Estate – Construction - - - - 174,394 - 174,394 Real Estate – Commercial Mortgage 151 - - 151 662,795 604 663,550 Real Estate – Residential 365 151 - 516 357,408 2,097 360,021 Real Estate – Home Equity 210 - - 210 186,292 1,319 187,821 Consumer 1,964 636 - 2,600 319,781 212 322,593 Total $ 2,790 $ 810 $ - $ 3,600 $ 1,923,543 $ 4,322 $ 1,931,465 2020 Commercial, Financial and Agricultural $ 194 $ 124 $ - $ 318 $ 393,451 $ 161 $ 393,930 Real Estate – Construction - 717 - 717 134,935 179 135,831 Real Estate – Commercial Mortgage 293 - - 293 646,688 1,412 648,393 Real Estate – Residential 375 530 - 905 348,508 3,130 352,543 Real Estate – Home Equity 325 138 - 463 204,321 695 205,479 Consumer 1,556 342 - 1,898 268,058 294 270,250 Total $ 2,743 $ 1,851 $ - $ 4,594 $ 1,995,961 $ 5,871 $ 2,006,426 |
Schedule of recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans | 2021 2020 Nonaccrual Nonaccrual 90 + Days Nonaccrual Nonaccrual 90 + Days With No With Still With No With Still (Dollars in Thousands) ACL ACL Accruing ACL ACL Accruing Commercial, Financial and Agricultural $ 67 $ 23 $ - $ - $ 161 $ - Real Estate – Construction - - - - 179 - Real Estate – Commercial Mortgage - 604 - 1,075 337 - Real Estate – Residential 928 1,169 - 1,513 1,617 - Real Estate – Home Equity 463 856 - - 695 - Consumer - 212 - - 294 - Total $ 1,458 $ 2,864 $ - $ 2,588 $ 3,283 $ - |
Amortized cost basis of collateral-dependent loans | 2021 2020 Real Estate Non Real Estate Real Estate Non Real Estate (Dollars in Thousands) Secured Secured Secured Secured Commercial, Financial and Agricultural $ - $ 67 $ - $ - Real Estate – Commercial Mortgage 455 - 3,900 - Real Estate – Residential 1,645 - 3,022 - Real Estate – Home Equity 649 - 219 - Consumer - - - 29 Total $ 2,749 $ 67 $ 7,141 $ 29 |
Summary of gross loans held for investment by years of origination | Term Loans by Origination Year Revolving (Dollars in Thousands) 2021 2020 2019 2018 2017 Prior Loans Total Commercial, Financial, Agricultural: Pass $ 69,531 $ 31,335 $ 30,084 $ 20,276 $ 9,578 $ 11,836 $ 50,030 $ 222,670 Special Mention - - 3 6 - 25 - 34 Substandard 35 10 67 178 46 46 - 382 Total $ 69,566 $ 31,345 $ 30,154 $ 20,460 $ 9,624 $ 11,907 $ 50,030 $ 223,086 Real Estate - Construction: Pass $ 95,457 $ 56,875 $ 15,770 $ 453 $ 130 $ - $ 5,709 $ 174,394 Total $ 95,457 $ 56,875 $ 15,770 $ 453 $ 130 $ - $ 5,709 $ 174,394 Real Estate - Commercial Mortgage: Pass $ 173,502 $ 134,418 $ 79,969 $ 79,575 $ 55,417 $ 91,938 $ 21,508 $ 636,327 Special Mention 7,004 - 1,760 2,639 426 5,374 1,000 18,203 Substandard 1,483 1,034 4,083 - 1,236 1,111 73 9,020 Total $ 181,989 $ 135,452 $ 85,812 $ 82,214 $ 57,079 $ 98,423 $ 22,581 $ 663,550 Real Estate - Residential: Pass $ 130,424 $ 62,509 $ 38,617 $ 27,332 $ 26,829 $ 60,467 $ 6,600 $ 352,778 Special Mention - 134 20 121 167 412 - 854 Substandard 1,651 - 1,038 806 218 2,676 - 6,389 Total $ 132,075 $ 62,643 $ 39,675 $ 28,259 $ 27,214 $ 63,555 $ 6,600 $ 360,021 Real Estate - Home Equity: Performing $ 137 $ 53 $ 257 $ 130 $ 743 $ 1,510 $ 183,672 $ 186,502 Nonperforming - - 18 - - 78 1,223 1,319 Total $ 137 53 275 130 743 1,588 184,895 187,821 Consumer: Performing $ 173,031 $ 64,805 $ 39,045 $ 26,383 $ 10,759 $ 3,138 $ 5,220 $ 322,381 Nonperforming 58 44 37 66 1 6 - 212 Total $ 173,089 64,849 39,082 26,449 10,760 3,144 5,220 322,593 |
MORTGAGE BANKING ACTIVITIES (Ta
MORTGAGE BANKING ACTIVITIES (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Mortgage Banking Activities [Abstract] | |
Summary of unpaid principal balance of residential mortgage loans | December 31, 2021 December 31, 2020 Unpaid Principal Unpaid Principal (Dollars in Thousands) Balance/Notional Fair Value Balance/Notional Fair Value Residential Mortgage Loans Held for Sale $ 50,733 $ 52,532 $ 109,831 $ 114,039 Residential Mortgage Loan Commitments ("IRLCs") (1) 51,883 1,258 147,494 4,825 Forward Sales Contracts (2) 48,000 (7) 158,500 (907) $ 53,783 $ 117,957 (1) Recorded in other assets at fair value (2) Recorded in other liabilities at fair value |
Mortgage banking revenue | (Dollars in Thousands) 2021 2020 Net realized gains on sales of mortgage loans $ 49,355 $ 59,709 Net change in unrealized gain on mortgage loans held for sale (2,410) 2,926 Net change in the fair value of mortgage loan commitments (IRLCs) (3,567) 2,625 Net change in the fair value of forward sales contracts 900 284 Pair-Offs on net settlement of forward 2,956 (9,602) Mortgage servicing rights additions 1,416 3,448 Net origination fees 3,775 3,954 Total mortgage banking $ 52,425 $ 63,344 |
Summary of mortgage servicing rights | (Dollars in Thousands) 2021 2020 Number of residential mortgage loans serviced for others 2,106 1,796 Outstanding principal balance of residential mortgage loans serviced $ 532,967 $ 456,135 Weighted average 3.59% 3.64% Remaining contractual term (in months) 317 321 |
Activity in the capitalized mortgage servicing rights | (Dollars in Thousands) 2021 2020 Beginning balance $ 3,452 $ 910 Additions due to loans sold with servicing retained 1,416 3,448 Deletions and amortization (1,344) (656) Valuation 250 (250) Ending balance $ 3,774 $ 3,452 |
Key unobservable inputs used in determining the fair value of mortgage servicing rights | 2021 2020 Minimum Maximum Minimum Maximum Discount rates 11.00% 15.00% 11.00% 15.00% Annual prepayment speeds 11.98% 23.79% 13.08% 23.64% Cost of servicing (per loan) $ 60 73 $ 90 110 |
Warehouse Line Borrowings | Amounts (Dollars in Thousands) Outstanding $ 75 1.00% to plus 1.00% , with a floor rate of 3.25% . 0.5 $ 11,607 $ 75 November 2022 . 2.25% to 3.25% . 17,371 $ 28,978 |
DERIVATIVES (Tables)
DERIVATIVES (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Derivatives [Abstract] | |
Cash flow hedges included in the Consolidated Statement of Financial Condition | Statement of Financial Notional Fair Weighted Average (Dollars in Thousands) Condition Location Value Interest rate swaps related to subordinated debt: December 31, 2021 Other Assets $ 30,000 $ 2,050 8.5 December 31, 2020 Other Assets $ 30,000 $ 574 9.5 |
Net gains (losses) recorded in accumulated other comprehensive income | Amount of Gain Amount of Gain (Loss) Recognized (Loss) Reclassified (Dollars in Thousands) Category in AOCI from AOCI to Income December 31, 2021 Interest Expense $ 1,530 $ (151) December 31, 2020 Interest Expense $ 428 $ (64) |
PREMISES AND EQUIPMENT (Tables)
PREMISES AND EQUIPMENT (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Premises and equipment [Abstract] | |
Schedule of composition of premises and equipment | (Dollars in Thousands) 2021 2020 Land $ 23,575 $ 23,744 Buildings 110,503 114,306 Fixtures and Equipment 57,010 55,916 Total 191,088 193,966 Accumulated Depreciation (107,676) (107,175) Premises and Equipment, Net $ 83,412 $ 86,791 |
LEASES (Table)
LEASES (Table) | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Lease expense and other information related to the Company's operating leases | (Dollars in Thousands) 2021 2020 2019 Operating lease expense $ 1,445 $ 1,018 $ 325 Short-term lease expense 663 530 120 Total lease expense $ 2,108 $ 1,548 $ 445 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,609 $ 1,174 $ 331 Right-of-use assets obtained in exchange for new operating lease liabilities 784 11,101 1,739 Weighted-average 25.3 25.4 6.8 Weighted-average 2.0 % 2.1 % 2.9 % |
Maturity of remaining lease liabilities | The table below summarizes the maturity of remaining lease liabilities: (Dollars in Thousands) December 31, 2021 2022 $ 1,499 2023 1,129 2024 1,088 2025 911 2026 835 2027 and thereafter 10,364 Total $ 15,826 Less: Interest (3,658) Present value of lease liability $ 12,168 |
OTHER REAL ESTATE OWNED (Tables
OTHER REAL ESTATE OWNED (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Real Estate Owned [Abstract] | |
Schedule of other real estate owned activity | (Dollars in Thousands) 2021 2020 2019 Beginning Balance $ 808 $ 953 $ 2,229 Additions 1,717 2,297 1,298 Valuation (31) (792) (300) Sales (2,809) (1,650) (2,274) Other 332 - - Ending Balance $ 17 $ 808 $ 953 |
Schedule of net expenses | Net expenses applicable to other real estate owned for the three years ended December (Dollars in Thousands) 2021 2020 2019 Gains from the Sale of Properties $ (1,711) $ (1,218) $ (244) Losses from the Sale of Properties 18 33 159 Rental Income from Properties - - (4) Property Carrying Costs 174 497 335 Valuation 31 792 300 Total $ (1,488) $ 104 $ 546 |
DEPOSITS (Tables)
DEPOSITS (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Regulatory matters [Abstract] | |
Schedule of Interest bearing deposits | (Dollars in Thousands) 2021 2020 NOW Accounts $ 1,070,154 $ 1,046,408 Money Market Accounts 274,611 266,649 Savings Deposits 599,811 474,100 Time Deposits 99,374 101,594 Total Interest Bearing $ 2,043,950 $ 1,888,751 |
Schedule of maturities of time deposits | (Dollars in Thousands) 2021 2022 $ 81,504 2023 9,453 2024 4,885 2025 1,877 2026 and thereafter 1,655 Total $ 99,374 |
Schedule of interest expense on deposits | Interest expense on deposits for the three years ended December 31, was as follows: (Dollars in Thousands) 2021 2020 2019 NOW Accounts $ 294 $ 930 $ 5,502 Money Market Accounts 134 223 946 Savings Deposits 263 207 182 Time Deposits < $250,000 145 179 201 Time Deposits > $250,000 3 9 9 Total $ 839 $ 1,548 $ 6,840 |
SHORT-TERM BORROWINGS (Tables)
SHORT-TERM BORROWINGS (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Short Term Borrowings [Abstract] | |
Schedule of Short-term borrowings | (Dollars in Thousands) Federal Funds Purchased Securities Sold Under Repurchase Agreements (1) Other Short-Term Borrowings (2) 2021 Balance at December 31 $ - $ 4,955 $ 29,602 Maximum indebtedness at any month end - 6,755 58,309 Daily average indebtedness outstanding 2 5,762 47,748 Average rate paid 2.39 % 0.04 % 2.84 % Average rate paid - % 0.04 % 2.36 % 2020 Balance at December 31 $ - $ 4,851 $ 74,803 Maximum indebtedness at any month end - 5,922 94,071 Daily average indebtedness outstanding 2 5,384 63,733 Average rate paid 2.56 % 0.10 % 4.36 % Average rate paid - % 0.04 % 3.00 % 2019 Balance at December 31 $ - $ 6,065 $ 339 Maximum indebtedness at any month end - 9,141 3,746 Daily average indebtedness outstanding 47 6,180 3,047 Average rate paid 2.85 % 0.91 % 1.73 % Average rate paid - % 0.46 % 4.11 % (1) Balances are fully collateralized by government treasury or agency securities held in the Company's investment portfolio. (2) Comprised of FHLB advances totaling $ 0.6 29.0 |
LONG-TERM BORROWINGS (Tables)
LONG-TERM BORROWINGS (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Long-term Borrowings [Abstract] | |
Schedule of minimum future principal payments on FHLB advances | (Dollars in Thousands) 2021 2022 $ 312 2023 257 2024 199 2025 116 Total $ 884 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax [Abstract] | |
Schedule of provision for income taxes | (Dollars in Thousands) 2021 2020 2019 Current: Federal $ 12,039 $ 8,625 $ 8,481 State 1,044 1,658 247 13,083 10,283 8,728 Deferred: Federal (3,246) (143) (680) State (10) 130 1,913 Change in Valuation 8 (40) (8) (3,248) (53) 1,225 Total: Federal 8,793 8,482 7,801 State 1,034 1,788 2,160 Change in Valuation 8 (40) (8) Total $ 9,835 $ 10,230 $ 9,953 |
Schedule of effective income tax rate reconciliation | (Dollars in Thousands) 2021 2020 2019 Tax Expense at Federal $ 10,385 $ 11,106 $ 8,560 Increases (Decreases) Resulting From: Tax-Exempt Interest (271) (341) (425) State Taxes, Net of Federal 819 1,413 1,342 Other 375 601 294 Change in Valuation 8 (40) (8) Tax-Exempt Cash Surrender (173) (173) (175) Expense Due to Reduction of Florida Corporate Income Tax - - 365 Noncontrolling Interest (1,308) (2,336) - Actual Tax Expense $ 9,835 $ 10,230 $ 9,953 |
Schedule of deferred income tax liabilities and assets | (Dollars in Thousands) 2021 2020 Deferred Tax Assets Attributable Allowance for Credit Losses $ 5,308 $ 6,037 Accrued Pension/SERP 4,468 16,052 State Net Operating Loss and Tax 1,984 2,335 Other Real Estate Owned 1,029 1,066 Accrued SERP Liability 2,442 2,104 Lease Liability 2,597 2,581 Net Unrealized Losses on Investment Securities 1,532 - Other 2,325 2,637 Total Deferred $ 21,685 $ 32,812 Deferred Tax Liabilities Depreciation on Premises and Equipment $ 3,208 $ 4,408 Deferred Loan Fees and Costs 2,016 2,824 Intangible Assets 3,276 3,290 Accrued Pension Liability 2,138 4,723 Right of Use Asset 2,453 2,411 Investments 469 469 Other 857 1,165 Total Deferred 14,417 19,290 Valuation 1,648 1,640 Net Deferred Tax Asset $ 5,620 $ 11,882 |
STOCK-BASED COMPENSATION (Table
STOCK-BASED COMPENSATION (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Stock-Based Compensation [Abstract] | |
Schedule of stock purchase right estimated on the date of grant using weighted average assumption | 2021 2020 2019 Dividend yield 2.5 % 2.4 % 2.0 % Expected volatility 21.8 % 45.6 % 17.4 % Risk-free interest rate 0.1 % 0.9 % 2.3 % Expected life (in years) 0.5 0.5 0.5 |
EMPLOYEE BENEFIT PLANS (Tables)
EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Employee benefits plans [Abstract] | |
Schedule of components of pension expense, the funded status of the plan, amounts recognized in the consolidated statements of financial condition, and major assumptions | (Dollars in Thousands) 2021 2020 2019 Change in Projected Benefit Obligation: Benefit Obligation at Beginning of Year $ 212,566 $ 180,830 $ 149,347 Service Cost 6,971 5,828 6,114 Interest Cost 4,885 5,612 6,178 Actuarial (Gain) Loss (14,934) 32,172 25,715 Benefits Paid (2,087) (11,677) (6,255) Expenses Paid (259) (260) (269) Settlements (34,634) - - Special/Contractual Termination - 61 - Projected Benefit Obligation at End of Year $ 172,508 $ 212,566 $ 180,830 Change in Plan Assets: Fair Value $ 171,775 $ 161,646 $ 134,535 Actual Return on Plan Assets 30,479 17,066 28,635 Employer Contributions - 5,000 5,000 Benefits Paid (2,087) (11,677) (6,255) Expenses Paid (259) (260) (269) Settlements (34,634) - - Fair Value $ 165,274 $ 171,775 $ 161,646 Funded Status of Plan and Accrued Liability Recognized at End of Year: Other Liabilities $ 7,234 $ 40,791 $ 19,184 Accumulated Benefit Obligation at End of Year $ 149,569 $ 177,362 $ 156,327 Components of Net Periodic Benefit Costs: Service Cost $ 6,971 $ 5,828 $ 6,114 Interest Cost 4,885 5,612 6,178 Expected Return on Plan Assets (11,147) (10,993) (9,527) Amortization of Prior Service Costs 15 15 15 Special/Contractual Termination - 61 - Net Loss Amortization 6,764 3,933 3,862 Net Loss Settlements 3,072 - - Net Periodic Benefit Cost $ 10,560 $ 4,456 $ 6,642 Weighted-Average Discount Rate 3.11% 2.88% 3.53% Rate of Compensation Increase (1) 4.40% 4.00% 4.00% Measurement Date 12/31/21 12/31/20 12/31/19 Weighted-Average Discount Rate 2.88% 3.53% 4.43% Expected Return on Plan Assets 6.75% 7.00% 7.25% Rate of Compensation Increase (1) 4.00% 4.00% 4.00% Amortization Amounts from Accumulated Other Comprehensive Income: Net Actuarial Loss (Gain) $ (34,265) $ 26,098 $ 6,606 Prior Service Cost (15) (15) (15) Net Loss (9,836) (3,933) (3,862) Deferred Tax (Benefit) 11,183 (5,615) (694) Other Comprehensive Loss (Gain), net of tax $ (32,933) $ 16,535 $ 2,035 Amounts Recognized in Accumulated Other Comprehensive Income: Net Actuarial Losses $ 15,300 $ 59,400 $ 37,235 Prior Service Cost 20 35 50 Deferred Tax Benefit (3,884) (15,066) (9,451) Accumulated Other Comprehensive Loss, net of tax $ 11,436 $ 44,369 $ 27,834 (1) |
Schedule of pension plan asset allocation and the target asset allocation | Target Percentage of Plan Allocation Assets at December 31 (1) 2022 2021 2020 Equity Securities 68 % 73 % 71 % Debt Securities 27 % 23 % 21 % Cash and Cash Equivalents 5 % 4 % 8 % Total 100 % 100 % 100 % (1) Represents asset allocation at December 31 which end cash contribution to the plan. |
Schedule of fair value of plan assets by level of the valuation inputs within the fair value hierarchy | (Dollars in Thousands) 2021 2020 Level 1: U.S. Treasury Securities $ 200 $ 405 Mutual Funds 156,726 155,192 Cash and Cash Equivalents 6,881 12,789 Level 2: U.S. Government Agency 527 1,555 Corporate Notes/Bonds 940 1,834 Total Fair Value $ 165,274 $ 171,775 |
Schedule of expected benefit payments related to the defined benefit pension plan | Expected Benefit Payments. follows: (Dollars in Thousands) 2021 2022 $ 13,463 2023 12,567 2024 12,774 2025 12,703 2026 12,070 2027 through 2031 51,009 Total $ 114,586 |
Schedule of amounts contributed to the pension plan and the expected amount to be contributed | Expected Contribution (Dollars in Thousands) 2020 2021 2022 (1) Actual Contributions $ 5,000 $ - $ - 5,000 For 2022, the Company will have the option to make a cash contribution |
Schedule of components of SERP's periodic benefit cost, the funded status of the plan, amounts recognized in the consolidated statements of financial condition, and major assumptions | (Dollars in Thousands) 2021 2020 2019 Change in Projected Benefit Obligation: Benefit Obligation at Beginning of Year $ 13,402 $ 10,244 $ 8,860 Service Cost 35 31 - Interest Cost 243 321 349 Actuarial (Gain) Loss (146) 1,826 1,035 Plan Amendments - 980 - Projected Benefit Obligation at End of Year $ 13,534 $ 13,402 $ 10,244 Funded Status of Plan and Accrued Liability Recognized at End of Year: Other Liabilities $ 13,534 $ 13,402 $ 10,244 Accumulated Benefit Obligation at End of Year $ 12,803 $ 12,339 $ 8,778 Components of Net Periodic Benefit Costs: Service Cost $ 35 $ 31 $ - Interest Cost 243 321 349 Amortization of Prior Service Cost 277 327 - Net Loss Amortization 970 503 761 Net Periodic Benefit Cost $ 1,525 $ 1,182 $ 1,110 Weighted-Average Discount Rate 2.80% 2.38% 3.16% Rate of Compensation Increase (1) 4.40% 4.00% 4.00% Measurement Date 12/31/21 12/31/20 12/31/19 Weighted-Average Discount Rate 2.38% 3.16% 4.23% Rate of Compensation Increase (1) 4.00% 3.50% 3.50% Amortization Amounts from Accumulated Other Comprehensive Income: Net Actuarial $ (146) $ 1,826 $ 1,035 Prior Service (Benefit) Cost (219) 895 - Net Loss (970) (458) (761) Deferred Tax (Benefit) 154 (573) (70) Other Comprehensive (Gain) Loss, net of tax $ (1,181) $ 1,690 $ 204 Amounts Recognized in Accumulated Other Comprehensive Income: Net Actuarial Loss $ 1,875 $ 2,991 $ 1,622 Prior Service Cost 429 895 - Deferred Tax Benefit (584) (985) (411) Accumulated Other Comprehensive Loss, net of tax $ 1,720 $ 2,901 $ 1,211 (1) |
Schedule of expected benefit payments related to the SERP | (Dollars in Thousands) 2021 2022 $ 7,521 2023 4,994 2024 952 2025 36 2026 28 2027 through 2031 316 Total $ 13,847 |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of computation of basic and diluted earnings per share | (Dollars and Per Share Data in Thousands) 2021 2020 2019 Numerator: Net Income Attributable to Common Shareowners $ 33,396 $ 31,576 $ 30,807 Denominator: Denominator for Basic Earnings Per Share Weighted 16,863 16,785 16,770 Effects of Dilutive Securities Stock Compensation 30 37 57 Denominator for Diluted Earnings Per Share Adjusted Weighted 16,893 16,822 16,827 Basic Earnings Per Share $ 1.98 $ 1.88 $ 1.84 Diluted Earnings Per Share $ 1.98 $ 1.88 $ 1.83 |
REGULATORY MATTERS (Tables)
REGULATORY MATTERS (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Regulatory matters [Abstract] | |
Schedule of Company and Bank's actual capital amounts and ratios | To Be Well Capitalized Under Required Prompt For Capital Corrective Actual Adequacy Purposes Action Provisions (Dollars in Thousands) Amount Ratio Amount Ratio Amount Ratio 2021 Common Equity Tier 1: CCBG $ 310,947 13.86% $ 100,925 4.50% * * CCB 346,959 15.50% 100,725 4.50% $ 145,491 6.50% Tier 1 Capital: CCBG 361,947 16.14% 134,566 6.00% * * CCB 346,959 15.50% 134,300 6.00% 179,066 8.00% Total CCBG 384,743 17.15% 179,422 8.00% * * CCB 369,754 16.52% 179,066 8.00% 223,833 10.00% Tier 1 Leverage: CCBG 361,947 8.95% 161,749 4.00% * * CCB 346,959 8.59% 161,515 4.00% 201,894 5.00% 2020 Common Equity Tier 1: CCBG $ 281,494 13.71% $ 92,424 4.50% * * CCB 302,147 14.75% 92,177 4.50% $ 133,145 6.50% Tier 1 Capital: CCBG 332,494 16.19% 123,232 6.00% * * CCB 302,147 14.75% 122,903 6.00% 163,870 8.00% Total CCBG 355,338 17.30% 164,310 8.00% * * CCB 324,991 15.87% 163,870 8.00% 204,838 10.00% Tier 1 Leverage: CCBG 332,494 9.33% 142,560 4.00% * * CCB 302,147 8.49% 142,280 4.00% 177,850 5.00% * |
ACCUMULATED OTHER COMPREHENSI_2
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Activity in accumulated other comprehensive loss, net of tax | Accumulated Securities Other Available Interest Rate Retirement Comprehensive for Sale Swap Plans (Loss) Income Balance as of January 1, 2021 $ 2,700 $ 428 $ (47,270) $ (44,142) Other comprehensive (loss) income during the period (7,288) 1,102 34,114 27,928 Balance as of December 31, 2021 $ (4,588) $ 1,530 $ (13,156) $ (16,214) Balance as of January 1, 2020 $ 864 $ - $ (29,045) $ (28,181) Other comprehensive income (loss) during the period 1,836 428 (18,225) (15,961) Balance as of December 31, 2020 $ 2,700 $ 428 $ (47,270) $ (44,142) Balance as of January 1, 2019 $ (2,008) $ - $ (26,807) $ (28,815) Other comprehensive income (loss) during the period 2,872 - (2,238) 634 Balance as of December 31, 2019 $ 864 $ - $ (29,045) $ (28,181) |
OTHER NONINTEREST EXPENSE (Tabl
OTHER NONINTEREST EXPENSE (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Noninterest Expense [Abstract] | |
Schedule of components of other noninterest expense | (Dollars in Thousands) 2021 2020 2019 Legal Fees $ 1,411 $ 1,570 $ 1,722 Professional Fees 5,633 4,863 4,345 Telephone 2,975 2,869 2,645 Advertising 2,683 2,998 2,056 Processing Services 6,569 5,832 5,779 Insurance – Other 2,096 1,607 1,007 Pension – Other 1,913 (216) 1,642 Other 12,242 11,396 9,079 Total $ 35,522 $ 30,919 $ 28,275 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies [Abstract] | |
Schedule of amounts associated with the entities off-balance sheet obligations | 2021 2020 (Dollars in Thousands) Fixed Variable Total Fixed Variable Total Commitments to Extend Credit (1) $ 217,531 $ 505,897 $ 723,428 $ 160,372 $ 596,572 $ 756,944 Standby Letters of Credit 5,205 - 5,205 6,550 - 6,550 Total $ 222,736 $ 505,897 $ 728,633 $ 166,922 $ 596,572 $ 763,494 (1) |
Allowance for credit losses for off-balance sheet credit commitments | (Dollars in Thousands) 2021 2020 2019 Beginning Balance $ 1,644 $ 157 $ 160 Impact of Adoption of ASC 326 - 876 - Provision for Credit Losses 1,253 611 (3) Ending Balance $ 2,897 $ 1,644 $ 157 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Measurements [Abstract] | |
Schedule of financial assets and financial liabilities measured at fair value on a recurring basis | (Dollars in Thousands) Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Value 2021 ASSETS: Securities Available for U.S. Government Treasury $ 187,868 $ - $ - $ 187,868 U.S. Government Agency - 237,578 - 237,578 States and Political Subdivisions - 46,980 - 46,980 Mortgage-Backed Securities - 88,869 - 88,869 Corporate Debt Securities - 86,222 - 86,222 Other Securities - 7,094 - 7,094 Held for Sale Loans - 52,532 - 52,532 Interest Rate Swap Derivative - 2,050 - 2,050 Mortgage Banking IRLC Derivative - - 1,258 1,258 Mortgage Servicing Rights $ - $ - $ 4,718 $ 4,718 LIABILITIES: Mortgage Banking Hedge Derivative $ - $ 7 $ - $ 7 2020 ASSETS: Securities Available for U.S. Government Treasury $ 104,519 $ - $ - $ 104,519 U.S. Government Agency - 208,531 - 208,531 State and Political Subdivisions - 3,632 - 3,632 Mortgage-Backed Securities - 515 - 515 Other Securities - 7,673 - 7,673 Held for Sale Loans - 114,039 - 114,039 Interest Rate Swap Derivative - 574 - 574 Mortgage Banking IRLC Derivative $ - $ - $ 4,825 $ 4,825 LIABILITIES: Mortgage Banking Hedge Derivative $ - $ 907 $ - $ 907 |
Schedule of financial instruments with estimated fair values | 2021 (Dollars in Thousands) Carrying Level 1 Level 2 Level 3 Value Inputs Inputs Inputs ASSETS: Cash $ 65,313 $ 65,313 $ - $ - Short-Term Investments 970,041 970,041 - - Investment Securities, Available 654,611 187,868 466,743 - Investment Securities, Held to Maturity 339,601 113,877 225,822 - Equity Securities (1) 861 - 861 - Loans Held for Sale 52,532 - 52,532 - Other Equity Securities (2) 2,848 - 2,848 - Interest Rate Swap Derivative 2,050 - 2,050 - Mortgage Servicing Rights 3,774 - - 4,718 Mortgage Banking IRLC Derivative 1,258 - - 1,258 Loans, Net of Allowance for Credit Losses $ 1,909,859 $ - $ - $ 1,903,640 LIABILITIES: Deposits $ 3,712,862 $ - $ 3,713,478 $ - Short-Term 34,557 - 34,557 - Subordinated Notes Payable 52,887 - 42,609 - Long-Term Borrowings 884 - 938 - Mortgage Banking Hedge Derivative $ 7 $ - $ 7 $ - (1) (2) 2020 (Dollars in Thousands) Carrying Level 1 Level 2 Level 3 Value Inputs Inputs Inputs ASSETS: Cash $ 67,919 $ 67,919 $ - $ - Short-Term Investments 860,630 860,630 - - Investment Securities, Available 324,870 104,519 220,351 - Investment Securities, Held to Maturity 169,939 5,014 170,161 - Loans Held for Sale 114,039 - 114,039 - Other Equity Securities (1) 3,589 - 3,589 - Interest Rate Swap Derivative 574 - 574 - Mortgage Servicing Rights 3,452 - - 3,451 Mortgage Banking IRLC Derivative 4,825 - - 4,825 Loans, Net of Allowance for Credit Losses $ 1,982,610 $ - $ - $ 1,990,740 LIABILITIES: Deposits $ 3,217,560 $ - $ 3,217,615 $ - Short-Term 79,654 - 79,654 - Subordinated Notes Payable 52,887 - 43,449 - Long-Term Borrowings 3,057 - 3,174 - Mortgage Banking Hedge Derivative $ 907 $ - $ 907 $ - |
PARENT COMPANY FINANCIAL INFO_2
PARENT COMPANY FINANCIAL INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Parent Company Financial Information [Abstract] | |
Schedule of condensed statements of financial condition of the parent company | (Dollars in Thousands, Except Per Share 2021 2020 ASSETS Cash and Due From Subsidiary Bank $ 25,768 $ 39,718 Equity Securities 120 - Investment in Subsidiary Bank 415,580 342,958 Goodwill and Other Intangibles 4,158 - Other Assets 7,866 6,530 Total Assets $ 453,492 $ 389,206 LIABILITIES Long-Term Borrowings $ - $ 900 Subordinated Notes Payable 52,887 52,887 Other Liabilities 17,439 14,582 Total Liabilities $ 70,326 $ 68,369 SHAREOWNERS’ EQUITY Common Stock, $ .01 90,000,000 16,892,060 16,790,573 issued and outstanding at December 31, 2021 and 2020, respectively 169 168 Additional Paid-In Capital 34,423 32,283 Retained Earnings 364,788 332,528 Accumulated Other Comprehensive Loss, Net of Tax (16,214) (44,142) Total Shareowners’ 383,166 320,837 Total Liabilities and Shareowners’ $ 453,492 $ 389,206 |
Schedule of operating results of the parent company | (Dollars in Thousands) 2021 2020 2019 OPERATING INCOME Income Received from Subsidiary Bank: Administrative Fees $ 5,516 $ 6,068 $ 6,517 Dividends 10,000 21,000 19,000 Other Income 174 193 203 Total Operating 15,690 27,261 25,720 OPERATING EXPENSE Salaries and Associate Benefits 3,558 3,418 3,928 Interest on Subordinated Notes Payable 1,233 1,514 2,381 Professional Fees 1,113 1,079 1,196 Advertising 134 140 157 Legal Fees 589 456 391 Other 2,087 1,673 1,711 Total Operating 8,714 8,280 9,764 Earnings Before Income Taxes Earnings of Subsidiary Bank 6,976 18,981 15,956 Income Tax Benefit (717) (406) (632) Earnings Before Equity in Undistributed Earnings of Subsidiary Bank 7,693 19,387 16,588 Equity in Undistributed Earnings of Subsidiary Bank 25,703 12,189 14,219 Net Income $ 33,396 $ 31,576 $ 30,807 |
Schedule of cash flows for the parent company | (Dollars in Thousands) 2021 2020 2019 CASH FLOWS FROM OPERATING Net Income $ 33,396 $ 31,576 $ 30,807 Adjustments to Reconcile Net Income to Net Cash Provided By Equity in Undistributed Earnings of Subsidiary Bank (25,703) (12,189) (14,219) Stock Compensation 843 892 1,569 Amortization of Intangible Asset 107 - - Increase in Other Assets (21) (217) (445) Increase in Other Liabilities 3,131 1,900 1,557 Net Cash Provided By Operating Activities $ 11,753 $ 21,962 $ 19,269 CASH FROM INVESTING ACTIVITIES: Purchase of Equity Securities $ (120) $ - $ - Net Cash Paid for Acquisition (4,482) - - Increase in Investment in Subsidiaries (10,770) - - Net Cash Used in Investing Activities $ (15,372) $ - $ - CASH FROM FINANCING ACTIVITIES: Repayment of Long-Term (900) (600) (600) Dividends Paid (10,459) (9,567) (8,047) Issuance of Common Stock Under Compensation Plans 1,028 1,041 1,054 Payments to Repurchase Common Stock - (2,042) (1,805) Net Cash Used In Financing Activities $ (10,331) $ (11,168) $ (9,398) Net (Decrease) Increase in Cash (13,950) 10,794 9,871 Cash at Beginning of Year 39,718 28,924 19,053 Cash at End of Year $ 25,768 $ 39,718 $ 28,924 |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Apr. 30, 2021 | Mar. 01, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
Business combination abstract | |||||||
Acquisition of equity interest in Brand Mortgage, LLC | 51.00% | 51.00% | |||||
Total assets acquired | $ 52,000,000 | ||||||
Liabilities assumed | 42,000,000 | ||||||
Payments to Acquire Businesses, Gross | $ 4,500,000 | 7,100,000 | |||||
Temporary Equity | $ 7,400,000 | $ 11,758,000 | $ 22,000,000 | ||||
Noncontrolling interest in subsidiary | 49.00% | ||||||
Additional goodwill | 2,800,000 | $ 4,300,000 | |||||
Intangible assets acquired | $ 1,600,000 | ||||||
Relcasification from permenent to temporary equity | [1] | 9,323,000 | (9,323,000) | ||||
Restricted cash balance | 500,000 | ||||||
Average federal reserves | 0 | ||||||
Impact of ASC 326 [Line Items] | |||||||
Liabilities | 3,868,925,000 | 3,455,234,000 | |||||
Retained Earnings | 364,788,000 | 332,528,000 | |||||
Deferred Tax Assets, Net | 5,620,000 | 11,882,000 | |||||
Financing Receivable, Allowance for Credit Loss | 21,606,000 | $ 23,816,000 | $ 13,905,000 | ||||
Impact of Adoption of ASC 326 [Member] | |||||||
Impact of ASC 326 [Line Items] | |||||||
Liabilities | $ 4,000,000 | ||||||
Retained Earnings | (3,100,000) | ||||||
Deferred Tax Assets, Net | 900,000 | ||||||
Financing Receivable, Allowance for Credit Loss | 3,300,000 | ||||||
Impact of Adoption of ASC 326 [Member] | Unfunded Loan Commitment [Member] | |||||||
Impact of ASC 326 [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | $ 700,000 | ||||||
Impact of Adoption of ASC 326 [Member] | Minimum [Member] | Independent appraisal of underlying collateral [Member] | |||||||
Impact of ASC 326 [Line Items] | |||||||
Collateral-dependent loans | 250,000 | ||||||
Impact of Adoption of ASC 326 [Member] | Maximum [Member] | Loss rates for similar loan types [Member] | |||||||
Impact of ASC 326 [Line Items] | |||||||
Collateral-dependent loans | $ 250,000 | ||||||
Premises [Member] | Minimum [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Estimated useful life (in years) | 10 years | ||||||
Premises [Member] | Maximum [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Estimated useful life (in years) | 40 years | ||||||
Equipment [Member] | Minimum [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Estimated useful life (in years) | 3 years | ||||||
Equipment [Member] | Maximum [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Estimated useful life (in years) | 10 years | ||||||
[1] | Adjustments to redemption value for non-controlling interest in CCHL |
INVESTMENT SECURITIES- Investme
INVESTMENT SECURITIES- Investment Portfolio Composition (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Available-for-sale | ||
Amortized Cost | $ 660,732 | $ 321,191 |
Unrealized Gains | 1,375 | 3,863 |
Unrealized Losses | 7,460 | 184 |
Allowance for Credit Loss | (36) | 0 |
Fair Value | 654,611 | 324,870 |
Federal Home Loan Bank | 2,000 | 2,900 |
Federal Reserve Bank stock | 5,100 | 4,800 |
Held to Maturity | ||
Amortized Cost | 339,601 | 169,939 |
Unrealized Gains | 2,819 | 5,236 |
Unrealized Losses | 2,721 | 0 |
Fair value | 339,699 | 175,175 |
U.S. Government Treasury [Member] | ||
Available-for-sale | ||
Amortized Cost | 190,409 | 103,547 |
Unrealized Gains | 65 | 972 |
Unrealized Losses | 2,606 | 0 |
Allowance for Credit Loss | 0 | 0 |
Fair Value | 187,868 | 104,519 |
Held to Maturity | ||
Amortized Cost | 115,499 | 5,001 |
Unrealized Gains | 0 | 13 |
Unrealized Losses | 1,622 | 0 |
Fair value | 113,877 | 5,014 |
U.S. Government Agency [Member] | ||
Available-for-sale | ||
Amortized Cost | 238,490 | 205,972 |
Unrealized Gains | 1,229 | 2,743 |
Unrealized Losses | 2,141 | 184 |
Allowance for Credit Loss | 0 | 0 |
Fair Value | 237,578 | 208,531 |
States and Political Subdivisions [Member] | ||
Available-for-sale | ||
Amortized Cost | 47,762 | 3,543 |
Unrealized Gains | 44 | 89 |
Unrealized Losses | 811 | 0 |
Allowance for Credit Loss | (15) | 0 |
Fair Value | 46,980 | 3,632 |
Mortgage-Backed Securities [Member] | ||
Available-for-sale | ||
Amortized Cost | 89,440 | 456 |
Unrealized Gains | 27 | 59 |
Unrealized Losses | 598 | 0 |
Allowance for Credit Loss | 0 | 0 |
Fair Value | 88,869 | 515 |
Held to Maturity | ||
Amortized Cost | 224,102 | 164,938 |
Unrealized Gains | 2,819 | 5,223 |
Unrealized Losses | 1,099 | 0 |
Fair value | 225,822 | 170,161 |
Corporate Debt Securities [Member] | ||
Available-for-sale | ||
Amortized Cost | 87,537 | |
Unrealized Gains | 10 | |
Unrealized Losses | 1,304 | |
Allowance for Credit Loss | (21) | |
Fair Value | 86,222 | |
Other Securities [Member] | ||
Available-for-sale | ||
Amortized Cost | 7,094 | 7,673 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Allowance for Credit Loss | 0 | 0 |
Fair Value | $ 7,094 | $ 7,673 |
INVESTMENT SECURITIES - Maturit
INVESTMENT SECURITIES - Maturity Distribution (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Amortized Cost | ||
Due in one year or less | $ 40,322 | |
Due after one through five years | 297,352 | |
Due after five thru ten years | 67,522 | |
Total Investment Securities | 660,732 | $ 321,191 |
Fair Value | ||
Due in one year or less | 39,916 | |
Due after one through five years | 293,514 | |
Due after five thru ten years | 66,006 | |
Total Investment Securities | 654,611 | 324,870 |
Amortized Cost | ||
Due in one year or less | 0 | |
Due after one through five years | 115,499 | |
Total Investment Securities | 339,601 | 169,939 |
Fair Value | ||
Due in one year or less | 0 | |
Due after one through five years | 113,877 | |
Total Investment Securities | 339,699 | 175,175 |
Mortgage-Backed Securities [Member] | ||
Amortized Cost | ||
Due without single maturity date | 89,440 | |
Total Investment Securities | 89,440 | 456 |
Fair Value | ||
Due without single maturity date | 88,869 | |
Total Investment Securities | 88,869 | 515 |
Amortized Cost | ||
Due without single maturity date | 224,102 | |
Total Investment Securities | 224,102 | 164,938 |
Fair Value | ||
Due without single maturity date | 225,822 | |
Total Investment Securities | 225,822 | 170,161 |
U.S. Government Agency [Member] | ||
Amortized Cost | ||
Due without single maturity date | 159,002 | |
Total Investment Securities | 238,490 | 205,972 |
Fair Value | ||
Due without single maturity date | 159,212 | |
Total Investment Securities | 237,578 | 208,531 |
Other Securities [Member] | ||
Amortized Cost | ||
Due without single maturity date | 7,094 | |
Total Investment Securities | 7,094 | 7,673 |
Fair Value | ||
Due without single maturity date | 7,094 | |
Total Investment Securities | $ 7,094 | $ 7,673 |
INVESTMENT SECURITIES - Unreali
INVESTMENT SECURITIES - Unrealized Losses (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | $ 492,998 | $ 28,266 |
Less Than 12 Months, Unrealized Losses | 7,105 | 156 |
Greater Than 12 Months, Fair Value | 17,986 | 4,670 |
Greater Than 12 Months, Unrealized Losses | 355 | 28 |
Total Fair Value | 510,984 | 32,936 |
Total Unrealized Losses | 7,460 | 184 |
Held-to-maturity debt securities | ||
Less Than 12 Months, Fair Value | 228,892 | |
Less Than 12 Months, Unrealized Losses | 2,721 | |
Greater Than 12 Months, Fair Value | 0 | |
Greater Than 12 Months Or Longer, Unrealized Losses | 0 | |
Total Fair Value | 228,892 | |
Total Unrealized Losses | 2,721 | |
U.S. Government Treasury [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 172,206 | |
Less Than 12 Months, Unrealized Losses | 2,606 | |
Greater Than 12 Months, Fair Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Fair Value | 172,206 | |
Total Unrealized Losses | 2,606 | |
Held-to-maturity debt securities | ||
Less Than 12 Months, Fair Value | 113,877 | |
Less Than 12 Months, Unrealized Losses | 1,622 | |
Greater Than 12 Months, Fair Value | 0 | |
Greater Than 12 Months Or Longer, Unrealized Losses | 0 | |
Total Fair Value | 113,877 | |
Total Unrealized Losses | 1,622 | |
U.S. Government Agency [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 127,484 | 28,266 |
Less Than 12 Months, Unrealized Losses | 1,786 | 156 |
Greater Than 12 Months, Fair Value | 17,986 | 4,670 |
Greater Than 12 Months, Unrealized Losses | 355 | 28 |
Total Fair Value | 145,470 | 32,936 |
Total Unrealized Losses | 2,141 | $ 184 |
States and Political Subdivisions [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 42,122 | |
Less Than 12 Months, Unrealized Losses | 811 | |
Greater Than 12 Months, Fair Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Fair Value | 42,122 | |
Total Unrealized Losses | 811 | |
Mortgage-Backed Securities [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 81,832 | |
Less Than 12 Months, Unrealized Losses | 598 | |
Greater Than 12 Months, Fair Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Fair Value | 81,832 | |
Total Unrealized Losses | 598 | |
Held-to-maturity debt securities | ||
Less Than 12 Months, Fair Value | 115,015 | |
Less Than 12 Months, Unrealized Losses | 1,099 | |
Greater Than 12 Months, Fair Value | 0 | |
Greater Than 12 Months Or Longer, Unrealized Losses | 0 | |
Total Fair Value | 115,015 | |
Total Unrealized Losses | 1,099 | |
Corporate Debt Securities [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 69,354 | |
Less Than 12 Months, Unrealized Losses | 1,304 | |
Greater Than 12 Months, Fair Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Fair Value | 69,354 | |
Total Unrealized Losses | $ 1,304 |
INVESTMENT SECURITIES - Narrati
INVESTMENT SECURITIES - Narrative (Details) | 12 Months Ended | |
Dec. 31, 2021USD ($)Securities | Dec. 31, 2020USD ($)Securities | |
Investments Securities [Abstract] | ||
Securities pledged to secure public deposits | $ 463,800,000 | $ 308,200,000 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Securities | 401 | 47 |
Available-for-sale Securities and Held-To-Maturity, Continuous Unrealized Loss Position, Accumulated Loss | $ 10,200,000 | $ 200,000 |
Provision For Loan Losses Expensed | (2,842,000) | 9,035,000 |
Equity Securities | 861,000 | $ 0 |
Securities held nonaccrual status | $ 0 | |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Securities | 44 | |
Municipal securities and collateralized loan obligation securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Provision For Loan Losses Expensed | $ 36,000 | |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Securities | 64 | |
U.S. Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Securities | 59 | |
U.S. government agency and mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Securities | 234 |
LOANS HELD FOR INVESTMENT AND_3
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES - Loan Portfolio Composition (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Held for Investment | $ 1,931,465 | $ 2,006,426 |
Loans in process with outstanding balances | 13,600 | 10,900 |
Commercial, Financial, Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Held for Investment | 223,086 | 393,930 |
Commercial, Financial, Agricultural [Member] | SBA PPP Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Held for Investment | 100 | 175,300 |
Real Estate - Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Held for Investment | 174,394 | 135,831 |
Real Estate - Commercial Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Held for Investment | 663,550 | 648,393 |
Real Estate - Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Held for Investment | 360,021 | 352,543 |
Real Estate - Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Held for Investment | 187,821 | 205,479 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Held for Investment | 322,593 | 270,250 |
Consumer [Member] | Overdraft deposits [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Held for Investment | $ 1,100 | $ 700 |
LOANS HELD FOR INVESTMENT AND_4
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES - allowance for loan losses by portfolio segment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Activity in the allowance for loan losses by portfolio class | |||
Beginning Balance | $ 13,905 | $ 14,210 | |
Provision for Credit Losses | 2,027 | ||
Charge-Offs | (4,971) | ||
Recoveries | 2,639 | ||
Net (Charge-Offs) Recoveries | (2,332) | ||
Ending Balance | 13,905 | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | $ 23,816 | 13,905 | |
Provision for credit losses | (2,842) | 9,035 | |
Charge-Offs | (4,827) | (6,160) | |
Recoveries | 5,459 | 3,767 | |
Net (Charge-Offs) Recoveries | 632 | (2,393) | |
Ending Balance | 21,606 | 23,816 | 13,905 |
Adoption of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 3,269 | ||
Ending Balance | 3,269 | ||
Commercial, Financial, Agricultural [Member] | |||
Activity in the allowance for loan losses by portfolio class | |||
Beginning Balance | 1,675 | 1,434 | |
Provision for Credit Losses | 664 | ||
Charge-Offs | (768) | ||
Recoveries | 345 | ||
Net (Charge-Offs) Recoveries | (423) | ||
Ending Balance | 1,675 | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 2,204 | 1,675 | |
Provision for credit losses | (227) | 578 | |
Charge-Offs | (239) | (789) | |
Recoveries | 453 | 252 | |
Net (Charge-Offs) Recoveries | 214 | (537) | |
Ending Balance | 2,191 | 2,204 | 1,675 |
Commercial, Financial, Agricultural [Member] | Adoption of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 488 | ||
Ending Balance | 488 | ||
Real Estate - Construction [Member] | |||
Activity in the allowance for loan losses by portfolio class | |||
Beginning Balance | 370 | 280 | |
Provision for Credit Losses | 371 | ||
Charge-Offs | (281) | ||
Recoveries | 0 | ||
Net (Charge-Offs) Recoveries | (281) | ||
Ending Balance | 370 | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 2,479 | 370 | |
Provision for credit losses | 813 | 1,757 | |
Charge-Offs | 0 | 0 | |
Recoveries | 10 | 50 | |
Net (Charge-Offs) Recoveries | 10 | 50 | |
Ending Balance | 3,302 | 2,479 | 370 |
Real Estate - Construction [Member] | Adoption of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 302 | ||
Ending Balance | 302 | ||
Real Estate - Commercial Mortgage [Member] | |||
Activity in the allowance for loan losses by portfolio class | |||
Beginning Balance | 3,416 | 4,181 | |
Provision for Credit Losses | (1,129) | ||
Charge-Offs | (214) | ||
Recoveries | 578 | ||
Net (Charge-Offs) Recoveries | 364 | ||
Ending Balance | 3,416 | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 7,029 | 3,416 | |
Provision for credit losses | (1,679) | 1,865 | |
Charge-Offs | (405) | (28) | |
Recoveries | 865 | 318 | |
Net (Charge-Offs) Recoveries | 460 | 290 | |
Ending Balance | 5,810 | 7,029 | 3,416 |
Real Estate - Commercial Mortgage [Member] | Adoption of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 1,458 | ||
Ending Balance | 1,458 | ||
Real Estate - Residential [Member] | |||
Activity in the allowance for loan losses by portfolio class | |||
Beginning Balance | 3,128 | 3,400 | |
Provision for Credit Losses | (301) | ||
Charge-Offs | (400) | ||
Recoveries | 429 | ||
Net (Charge-Offs) Recoveries | 29 | ||
Ending Balance | 3,128 | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 5,440 | 3,128 | |
Provision for credit losses | (1,956) | 940 | |
Charge-Offs | (108) | (150) | |
Recoveries | 753 | 279 | |
Net (Charge-Offs) Recoveries | 645 | 129 | |
Ending Balance | 4,129 | 5,440 | 3,128 |
Real Estate - Residential [Member] | Adoption of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 1,243 | ||
Ending Balance | 1,243 | ||
Real Estate - Home Equity [Member] | |||
Activity in the allowance for loan losses by portfolio class | |||
Beginning Balance | 2,224 | 2,301 | |
Provision for Credit Losses | 178 | ||
Charge-Offs | (430) | ||
Recoveries | 175 | ||
Net (Charge-Offs) Recoveries | (255) | ||
Ending Balance | 2,224 | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 3,111 | 2,224 | |
Provision for credit losses | (1,125) | 486 | |
Charge-Offs | (103) | (151) | |
Recoveries | 413 | 178 | |
Net (Charge-Offs) Recoveries | 310 | 27 | |
Ending Balance | 2,296 | 3,111 | 2,224 |
Real Estate - Home Equity [Member] | Adoption of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 374 | ||
Ending Balance | 374 | ||
Consumer [Member] | |||
Activity in the allowance for loan losses by portfolio class | |||
Beginning Balance | 3,092 | 2,614 | |
Provision for Credit Losses | 2,244 | ||
Charge-Offs | (2,878) | ||
Recoveries | 1,112 | ||
Net (Charge-Offs) Recoveries | (1,766) | ||
Ending Balance | 3,092 | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 3,553 | 3,092 | |
Provision for credit losses | 1,332 | 3,409 | |
Charge-Offs | (3,972) | (5,042) | |
Recoveries | 2,965 | 2,690 | |
Net (Charge-Offs) Recoveries | (1,007) | (2,352) | |
Ending Balance | $ 3,878 | 3,553 | 3,092 |
Consumer [Member] | Adoption of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | $ (596) | ||
Ending Balance | $ (596) |
LOANS HELD FOR INVESTMENT AND_5
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES - aging of the amortized cost basis in accruing past due loans by class (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans | $ 4,322 | $ 5,871 |
Total Loans | 1,931,465 | 2,006,426 |
Commercial, Financial, Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 223,086 | |
Nonaccrual Loans | 90 | 161 |
Total Loans | 223,086 | 393,930 |
Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 174,394 | |
Nonaccrual Loans | 0 | 179 |
Total Loans | 174,394 | 135,831 |
Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 663,550 | |
Nonaccrual Loans | 604 | 1,412 |
Total Loans | 663,550 | 648,393 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 360,021 | |
Nonaccrual Loans | 2,097 | 3,130 |
Total Loans | 360,021 | 352,543 |
Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 187,821 | |
Nonaccrual Loans | 1,319 | 695 |
Total Loans | 187,821 | 205,479 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 322,593 | |
Nonaccrual Loans | 212 | 294 |
Total Loans | 322,593 | 270,250 |
Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,923,543 | 1,995,961 |
Current [Member] | Commercial, Financial, Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 222,873 | 393,451 |
Current [Member] | Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 174,394 | 134,935 |
Current [Member] | Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 662,795 | 646,688 |
Current [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 357,408 | 348,508 |
Current [Member] | Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 186,292 | 204,321 |
Current [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 319,781 | 268,058 |
Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 3,600 | 4,594 |
Past Due [Member] | Commercial, Financial, Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 123 | 318 |
Past Due [Member] | Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 717 |
Past Due [Member] | Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 151 | 293 |
Past Due [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 516 | 905 |
Past Due [Member] | Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 210 | 463 |
Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 2,600 | 1,898 |
30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 2,790 | 2,743 |
30-59 DPD [Member] | Commercial, Financial, Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 100 | 194 |
30-59 DPD [Member] | Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
30-59 DPD [Member] | Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 151 | 293 |
30-59 DPD [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 365 | 375 |
30-59 DPD [Member] | Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 210 | 325 |
30-59 DPD [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,964 | 1,556 |
60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 810 | 1,851 |
60-89 DPD [Member] | Commercial, Financial, Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 23 | 124 |
60-89 DPD [Member] | Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 717 |
60-89 DPD [Member] | Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
60-89 DPD [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 151 | 530 |
60-89 DPD [Member] | Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 138 |
60-89 DPD [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 636 | 342 |
90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
90 +DPD [Member] | Commercial, Financial, Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
90 +DPD [Member] | Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
90 +DPD [Member] | Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
90 +DPD [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
90 +DPD [Member] | Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
90 +DPD [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT AND_6
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES - nonaccrual loans and loans past due over 90 days (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual With No ACL | $ 1,458 | $ 2,588 |
Nonaccrual With ACL | 2,864 | 3,283 |
90 + Days Still Accruing | 0 | 0 |
Commercial, Financial, Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual With No ACL | 67 | 0 |
Nonaccrual With ACL | 23 | 161 |
90 + Days Still Accruing | 0 | 0 |
Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual With No ACL | 0 | 0 |
Nonaccrual With ACL | 0 | 179 |
90 + Days Still Accruing | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual With No ACL | 0 | 1,075 |
Nonaccrual With ACL | 604 | 337 |
90 + Days Still Accruing | 0 | 0 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual With No ACL | 928 | 1,513 |
Nonaccrual With ACL | 1,169 | 1,617 |
90 + Days Still Accruing | 0 | 0 |
Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual With No ACL | 463 | 0 |
Nonaccrual With ACL | 856 | 695 |
90 + Days Still Accruing | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual With No ACL | 0 | 0 |
Nonaccrual With ACL | 212 | 294 |
90 + Days Still Accruing | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT AND_7
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES - amortized cost basis of collateral dependent loans (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Real estate secured [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collateral-dependent loans | $ 2,749 | $ 7,141 |
Non real estate secured [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collateral-dependent loans | 67 | 29 |
Commercial, Financial, Agricultural [Member] | Real estate secured [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collateral-dependent loans | 0 | |
Commercial, Financial, Agricultural [Member] | Non real estate secured [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collateral-dependent loans | 67 | |
Real Estate - Commercial Mortgage [Member] | Real estate secured [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collateral-dependent loans | 455 | 3,900 |
Real Estate - Commercial Mortgage [Member] | Non real estate secured [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Real Estate - Residential [Member] | Real estate secured [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collateral-dependent loans | 1,645 | 3,022 |
Real Estate - Residential [Member] | Non real estate secured [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Real Estate - Home Equity [Member] | Real estate secured [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collateral-dependent loans | 649 | 219 |
Real Estate - Home Equity [Member] | Non real estate secured [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Consumer [Member] | Real estate secured [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Consumer [Member] | Non real estate secured [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collateral-dependent loans | $ 0 | $ 29 |
LOANS HELD FOR INVESTMENT AND_8
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES - Loans held for investment by years of origination) (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Commercial, Financial, Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | $ 69,566 |
2020 | 31,345 |
2019 | 30,154 |
2018 | 20,460 |
2017 | 9,624 |
Prior | 11,907 |
Revolving | 50,030 |
Total | 223,086 |
Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 95,457 |
2020 | 56,875 |
2019 | 15,770 |
2018 | 453 |
2017 | 130 |
Prior | 0 |
Revolving | 5,709 |
Total | 174,394 |
Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 181,989 |
2020 | 135,452 |
2019 | 85,812 |
2018 | 82,214 |
2017 | 57,079 |
Prior | 98,423 |
Revolving | 22,581 |
Total | 663,550 |
Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 132,075 |
2020 | 62,643 |
2019 | 39,675 |
2018 | 28,259 |
2017 | 27,214 |
Prior | 63,555 |
Revolving | 6,600 |
Total | 360,021 |
Real Estate - Home Equity [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 137 |
2020 | 53 |
2019 | 275 |
2018 | 130 |
2017 | 743 |
Prior | 1,588 |
Revolving | 184,895 |
Total | 187,821 |
Real Estate - Home Equity [Member] | Performing [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 137 |
2020 | 53 |
2019 | 257 |
2018 | 130 |
2017 | 743 |
Prior | 1,510 |
Revolving | 183,672 |
Total | 186,502 |
Real Estate - Home Equity [Member] | Nonperforming [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 0 |
2019 | 18 |
2018 | 0 |
2017 | 0 |
Prior | 78 |
Revolving | 1,223 |
Total | 1,319 |
Consumer [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 173,089 |
2020 | 64,849 |
2019 | 39,082 |
2018 | 26,449 |
2017 | 10,760 |
Prior | 3,144 |
Revolving | 5,220 |
Total | 322,593 |
Consumer [Member] | Performing [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 173,031 |
2020 | 64,805 |
2019 | 39,045 |
2018 | 26,383 |
2017 | 10,759 |
Prior | 3,138 |
Revolving | 5,220 |
Total | 322,381 |
Consumer [Member] | Nonperforming [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 58 |
2020 | 44 |
2019 | 37 |
2018 | 66 |
2017 | 1 |
Prior | 6 |
Revolving | 0 |
Total | 212 |
Pass [Member] | Commercial, Financial, Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 69,531 |
2020 | 31,335 |
2019 | 30,084 |
2018 | 20,276 |
2017 | 9,578 |
Prior | 11,836 |
Revolving | 50,030 |
Total | 222,670 |
Pass [Member] | Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 95,457 |
2020 | 56,875 |
2019 | 15,770 |
2018 | 453 |
2017 | 130 |
Prior | 0 |
Revolving | 5,709 |
Total | 174,394 |
Pass [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 173,502 |
2020 | 134,418 |
2019 | 79,969 |
2018 | 79,575 |
2017 | 55,417 |
Prior | 91,938 |
Revolving | 21,508 |
Total | 636,327 |
Pass [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 130,424 |
2020 | 62,509 |
2019 | 38,617 |
2018 | 27,332 |
2017 | 26,829 |
Prior | 60,467 |
Revolving | 6,600 |
Total | 352,778 |
Special Mention [Member] | Commercial, Financial, Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 0 |
2019 | 3 |
2018 | 6 |
2017 | 0 |
Prior | 25 |
Revolving | 0 |
Total | 34 |
Special Mention [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 7,004 |
2020 | 0 |
2019 | 1,760 |
2018 | 2,639 |
2017 | 426 |
Prior | 5,374 |
Revolving | 1,000 |
Total | 18,203 |
Special Mention [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 134 |
2019 | 20 |
2018 | 121 |
2017 | 167 |
Prior | 412 |
Revolving | 0 |
Total | 854 |
Substandard [Member] | Commercial, Financial, Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 35 |
2020 | 10 |
2019 | 67 |
2018 | 178 |
2017 | 46 |
Prior | 46 |
Revolving | 0 |
Total | 382 |
Substandard [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 1,483 |
2020 | 1,034 |
2019 | 4,083 |
2018 | 0 |
2017 | 1,236 |
Prior | 1,111 |
Revolving | 73 |
Total | 9,020 |
Substandard [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 1,651 |
2020 | 0 |
2019 | 1,038 |
2018 | 806 |
2017 | 218 |
Prior | 2,676 |
Revolving | 0 |
Total | $ 6,389 |
LOANS HELD FOR INVESTMENT AND_9
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES - Narratives (Details) | 12 Months Ended | |||
Dec. 31, 2021USD ($)LoanContracts | Dec. 31, 2020USD ($)LoanContracts | Dec. 31, 2019USD ($)LoanContracts | Jan. 01, 2020USD ($) | |
Loans, net [Abstract] | ||||
Accrued interest receivable | $ 5,300,000 | $ 6,900,000 | ||
Real estate loans for which formal foreclosure proceedings were in process | 900,000 | 1,600,000 | ||
TDRs | 8,000,000 | 14,300,000 | ||
TDRs performing in accordance with modified terms | 7,600,000 | 13,900,000 | ||
Estimated loan loss reserves | $ 300,000 | $ 600,000 | ||
Number of Contracts | LoanContracts | 3 | 3 | 7 | |
TDRs, for which there was a payment default and the loans were modified within the twelve months prior to default | $ 0 | $ 0 | ||
Loan modified with a recorded investment | 600,000 | 200,000 | $ 500,000 | |
Financing Receivable, Allowance for Credit Loss | 21,606,000 | 23,816,000 | $ 13,905,000 | |
Provision For Loan Losses Expensed | (2,842,000) | 9,035,000 | ||
Net loan charge-offs | (632,000) | 2,393,000 | ||
Purchase of real estate secured adjustable rate loans | 97,500,000 | 48,400,000 | ||
Net deferred costs | 3,900,000 | |||
Net deferred fees | 100,000 | |||
Tranfers from HFI to HFS | 9,400,000 | $ 0 | ||
SBA PPP Loans [Member] | ||||
Net deferred fees | 3,200,000 | |||
Third Party [Member] | ||||
Purchase of real estate secured adjustable rate loans | 17,400,000 | |||
Adjustments related to Covid 19 [Member] | ||||
Financing Receivable, Allowance for Credit Loss | $ 9,900,000 | |||
Impact of Adoption of ASC 326 [Member] | ||||
Financing Receivable, Allowance for Credit Loss | $ 3,300,000 |
MORTGAGE BANKING ACTIVITIES - U
MORTGAGE BANKING ACTIVITIES - Unpaid principal balance (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Other Assets | $ 94,349 | $ 101,370 |
Other Liabilities | 67,735 | 102,076 |
Loans Held For Sale, at fair value | 52,532 | 114,039 |
Residential Mortgage [Member] | ||
Loans held-for-sale | 50,733 | 109,831 |
Loans Held For Sale, at fair value | 52,532 | 114,039 |
Fair value | 53,783 | 117,957 |
Residential Mortgage [Member] | Loan Commitments (IRLCs) [Member] | ||
Other Assets | 51,883 | 147,494 |
Other assets fair value | 1,258 | 4,825 |
Residential Mortgage [Member] | Forward Sales Contracts [Member] | ||
Other Liabilities | 48,000 | 158,500 |
Other liabilities at fair value | $ (7) | $ (907) |
MORTGAGE BANKING ACTIVITIES - M
MORTGAGE BANKING ACTIVITIES - Mortgage banking revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net Realized Gains on Sales of Mortgage Loans | $ 52,425 | $ 63,344 | $ 5,321 |
Mortgage Servicing Rights Additions | (2,792) | 0 | |
Mortgage Banking Revenues [Member] | |||
Net Realized Gains on Sales of Mortgage Loans | 49,355 | 59,709 | |
Net Change in Unrealized Gain on Mortgage Loans Held for Sale | (2,410) | 2,926 | |
Net Change in the Fair Value of Mortgage Loan Commitments (IRLCs) | (3,567) | 2,625 | |
Net Change in the Fair Value of Forward Sales Contracts | 900 | 284 | |
Pair-Offs on Net Settlement of Forward Sales Contracts | 2,956 | (9,602) | |
Mortgage Servicing Rights Additions | 1,416 | 3,448 | |
Net orignination fees | 3,775 | 3,954 | |
Total mortgage banking revenues | $ 52,425 | $ 63,344 | $ 5,321 |
MORTGAGE BANKING ACTIVITIES - S
MORTGAGE BANKING ACTIVITIES - Summary of mortgage servicing rights (Details) - Residential Mortgage [Member] $ in Thousands | 12 Months Ended | |
Dec. 31, 2021USD ($)LoanContracts | Dec. 31, 2020USD ($)LoanContracts | |
Servicing Assets at Fair Value [Line Items] | ||
Number of Residential Mortgage Loans Serviced for Others | LoanContracts | 2,106 | 1,796 |
Outstanding Principal Balance of Residential Mortgage Loans Serviced for Others | $ | $ 532,967 | $ 456,135 |
Weighted Average Interest Rate | 3.59% | 3.64% |
Remaining contractual term (in months) | 317 months | 321 months |
MORTGAGE BANKING ACTIVITIES - C
MORTGAGE BANKING ACTIVITIES - Capitalized mortgage servicing rights (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Servicing Asset at Fair Value, Amount [Roll Forward | |||
Beginning Balance | $ 3,452 | $ 910 | |
Additions due to loans sold with servicing retained | 1,416 | 3,448 | |
Deletions and amortization | (1,344) | (656) | |
Valuation Allowance (temporary impairment) | (250) | 250 | $ 0 |
Ending Balance | $ 3,774 | $ 3,452 | $ 910 |
MORTGAGE BANKING ACTIVITIES - K
MORTGAGE BANKING ACTIVITIES - Key unobservable inputs used in determining the fair value (Details) - $ / LoanContracts | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Maximum [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Discount Rates | 15.00% | 15.00% |
Annual prepayment speeds | 23.79% | 23.64% |
Cost of servicing (per loan) | 73 | 110 |
Minimum [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Discount Rates | 11.00% | 11.00% |
Annual prepayment speeds | 11.98% | 13.08% |
Cost of servicing (per loan) | 60 | 90 |
MORTGAGE BANKING ACTIVITIES - W
MORTGAGE BANKING ACTIVITIES - Warehouse Line Borrowings (Details) - Warehouse Line Borrowings [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Short-term Debt [Line Items] | ||
Line of credit outstanding | $ 28,978 | $ 74,800 |
Master Repurchase Agreement [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 75,000 | |
Floor rate | 3.25% | |
Line of credit outstanding | $ 11,607 | |
Cash pledge deposit | $ 500 | |
Master Repurchase Agreement [Member] | Maximum [Member] | ||
Short-term Debt [Line Items] | ||
Interest rate, basis spread (in percent) | 1.00% | |
Master Repurchase Agreement [Member] | Minimum [Member] | ||
Short-term Debt [Line Items] | ||
Interest rate, basis spread (in percent) | 1.00% | |
Line of credit expiring November 2022 [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 75,000 | |
Line of credit outstanding | $ 17,371 | |
Line of Credit Facility, Expiration Date | Nov. 30, 2022 | |
Line of credit expiring November 2022 [Member] | Maximum [Member] | ||
Short-term Debt [Line Items] | ||
Interest rate, basis spread (in percent) | 3.25% | |
Line of credit expiring November 2022 [Member] | Minimum [Member] | ||
Short-term Debt [Line Items] | ||
Interest rate, basis spread (in percent) | 2.25% |
MORTGAGE BANKING ACTIVITIES - N
MORTGAGE BANKING ACTIVITIES - Narrative (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Mar. 01, 2020 | |
Mortgage Banking Activities [Abstract] | |||
Residential mortgage loans held for sale that were 30 to 60 days outstanding | $ 200,000 | ||
Residential mortgage loans held for sale that were 90 days or more outstanding | $ 600,000 | ||
Percentage of FNMA loan type of total loans serviced | 60.00% | ||
Percentage of GNMA loan type of total loans serviced | 9.00% | ||
Percentage of Private Investor loan type of total loans serviced | 31.00% | ||
Repurchase of GNMA delinquent or defaulted mortgage loans to be modified | $ 2,800,000 | $ 0 | |
Weighted average prepayment speed | 15.85% | 17.10% | |
Warehouse lines of credit extended to CCHL | $ 50,000,000 | ||
Interest in CCHL subsidiary entity | 51.00% | 51.00% | |
Balance of lines of credit receivable from CCHL | $ 14,800,000 | ||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | 0 | ||
Delinquent residential mortgage loans currently in GNMA pools | 2,000,000 | $ 4,900,000 | |
Warehouse Line Borrowings [Member] | |||
Short-term Debt [Line Items] | |||
Line of credit outstanding | $ 28,978,000 | $ 74,800,000 |
DERIVATIVES - Cash flow hedges
DERIVATIVES - Cash flow hedges included in the Consolidated Statement of Financial Condition (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Derivatives, Fair Value [Line Items] | ||
Notional Amount | $ 30,000 | $ 30,000 |
Fair Value | $ 2,050 | $ 574 |
Weighted average rate paid (Fixed) | 2.50% | |
Weighted average maturity years | 8 years 6 months | 9 years 6 months |
LIBOR plus a weighted average margin | 1.83% |
DERIVATIVES - Net gains (losses
DERIVATIVES - Net gains (losses) recorded in accumulated other comprehensive income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Collateral liabilities | $ 2,000 | $ 500 |
Interest rate product [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Amount of Gain (Loss) Recognized in AOCI | 1,530 | 428 |
Amount of Gain (Loss) Reclassified from AOCI to Income | (151) | $ (64) |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | $ 100 |
PREMISES AND EQUIPMENT (Details
PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | |||
Total | $ 191,088 | $ 193,966 | |
Accumulated Depreciation | (107,676) | (107,175) | |
Premises and Equipment, Net | 83,412 | 86,791 | |
Depreciation | 7,607 | 7,230 | $ 6,253 |
Land [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total | 23,575 | 23,744 | |
Buildings [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total | 110,503 | 114,306 | |
Fixtures and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total | $ 57,010 | $ 55,916 |
LEASES - lease expense and othe
LEASES - lease expense and other information related to the Company's operating leases (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Lease expenses: | |||
Operating lease expense | $ 1,445 | $ 1,018 | $ 325 |
Short-term lease expense | 663 | 530 | 120 |
Total lease expense | 2,108 | 1,548 | 445 |
Other information: | |||
Operating cash flows from operating leases | 1,609 | 1,174 | 331 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 784 | $ 11,101 | $ 1,739 |
Weighted-average remaining lease term - operating leases (in years ) | 25 years 3 months 18 days | 25 years 4 months 24 days | 6 years 9 months 18 days |
Weighted-average discount rate - operating leases | 2.00% | 2.10% | 2.90% |
LEASES - maturity of remaining
LEASES - maturity of remaining lease liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | ||
2022 | $ 1,499 | |
2023 | 1,129 | |
2024 | 1,088 | |
2025 | 911 | |
2026 | 835 | |
2027 and thereafter | 10,364 | |
Total | 15,826 | |
Less: Interest | (3,658) | |
Present value of lease liability | $ 12,168 | $ 12,800 |
LEASES - Narrative (Details)
LEASES - Narrative (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Lessee Lease Description [Line Items] | ||
Right-of-use (ROU) assets | $ 11,500 | $ 12,000 |
Operating lease liability | 12,168 | $ 12,800 |
Total lease payments | 15,826 | |
Operating leases related party transaction [Member] | ||
Lessee Lease Description [Line Items] | ||
Total lease payments | 600 | |
Operating leases minimum annual payment | 200 | |
Three of the leases [Member] | ||
Lessee Lease Description [Line Items] | ||
Total lease payments | $ 9,300 | |
Lessee, Operating Lease, Term of Contract for two new leases | 15 years | |
Fourth lease [Member] | ||
Lessee Lease Description [Line Items] | ||
Total lease payments | $ 1,400 | |
Lessee, Operating Lease, Term of Contract for two new leases | 10 years | |
Minimum [Member] | ||
Lessee Lease Description [Line Items] | ||
Remaining lease term of operating lease | 1 year | |
Maximum [Member] | ||
Lessee Lease Description [Line Items] | ||
Remaining lease term of operating lease | 44 years |
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES (Details) - USD ($) | Apr. 30, 2021 | Mar. 01, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Goodwill [Abstract] | |||||
Goodwill | $ 91,800,000 | $ 89,100,000 | |||
Goodwill impairment | $ 0 | 0 | |||
Business combination abstract | |||||
Acquisition of equity interest in Brand Mortgage, LLC | 51.00% | 51.00% | |||
Payments to Acquire Businesses, Gross | $ 4,500,000 | $ 7,100,000 | |||
Additional goodwill | 2,800,000 | $ 4,300,000 | |||
Intangible assets acquired | 1,600,000 | ||||
Amortization of Intangible Assets | $ 100,000 | $ 107,000 | $ 0 | $ 0 | |
Intangible assets useful life | 10 years | ||||
Estimated amortization expense for each of the ten succeeding fiscal years | $ 200,000 |
OTHER REAL ESTATE OWNED (Detail
OTHER REAL ESTATE OWNED (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Real Estate [Roll Forward] | |||
Beginning Balance | $ 808 | $ 953 | $ 2,229 |
Additions | 1,717 | 2,297 | 1,298 |
Valuation Write-Downs | (31) | (792) | (300) |
Sales | (2,809) | (1,650) | (2,274) |
Other | 332 | 0 | 0 |
Ending Balance | $ 17 | $ 808 | $ 953 |
OTHER REAL ESTATE OWNED - Net e
OTHER REAL ESTATE OWNED - Net expenses applicable (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Real Estate Owned [Abstract] | |||
Gains from the Sale of Properties | $ (1,711) | $ (1,218) | $ (244) |
Losses from the Sale of Properties | 18 | 33 | 159 |
Rental Income from Properties | 0 | 0 | (4) |
Property Carrying Costs | 174 | 497 | 335 |
Valuation Adjustments | 31 | 792 | 300 |
Total | $ (1,488) | $ 104 | $ 546 |
DEPOSITS - Composition of Compa
DEPOSITS - Composition of Company's interest bearing deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deposits [Abstract] | ||
NOW Accounts | $ 1,070,154 | $ 1,046,408 |
Money Market Accounts | 274,611 | 266,649 |
Savings Deposits | 599,811 | 474,100 |
Time Deposits | 99,374 | 101,594 |
Total Interest Bearing Deposits | $ 2,043,950 | $ 1,888,751 |
DEPOSITS - Scheduled maturities
DEPOSITS - Scheduled maturities of time deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deposits [Abstract] | ||
2022 | $ 81,504 | |
2023 | 9,453 | |
2024 | 4,885 | |
2025 | 1,877 | |
2026 and thereafter | 1,655 | |
Total | $ 99,374 | $ 101,594 |
DEPOSITS - Interest expense on
DEPOSITS - Interest expense on deposits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Deposits [Abstract] | |||
NOW Accounts | $ 294 | $ 930 | $ 5,502 |
Money Market Accounts | 134 | 223 | 946 |
Savings Deposits | 263 | 207 | 182 |
Time Deposits less than $250,000 | 145 | 179 | 201 |
Time Deposits more than $250,000 | 3 | 9 | 9 |
Total | $ 839 | $ 1,548 | $ 6,840 |
DEPOSITS - Narrative (Details)
DEPOSITS - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Deposits [Abstract] | ||
Overdrawn deposit accounts of loan | $ 1.1 | $ 0.7 |
Time deposits that meet or exceed the FDIC insurance limit of $250,000 | $ 10 | $ 8.5 |
SHORT-TERM BORROWINGS (Details)
SHORT-TERM BORROWINGS (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Short-term Debt [Line Items] | ||||
Balance at December 31 | $ 34,557 | $ 79,654 | ||
Federal Funds Purchased [Member] | ||||
Short-term Debt [Line Items] | ||||
Balance at December 31 | 0 | 0 | $ 0 | |
Maximum indebtedness at any month end | 0 | 0 | 0 | |
Daily average indebtedness outstanding | $ 2 | $ 2 | $ 47 | |
Average rate paid for the year (in percent) | 2.39% | 2.56% | 2.85% | |
Average rate paid on period-end borrowings (in percent) | 0.00% | 0.00% | 0.00% | |
Securities Sold Under Repurchase Agreements [Member] | ||||
Short-term Debt [Line Items] | ||||
Balance at December 31 | [1] | $ 4,955 | $ 4,851 | $ 6,065 |
Maximum indebtedness at any month end | [1] | 6,755 | 5,922 | 9,141 |
Daily average indebtedness outstanding | [1] | $ 5,762 | $ 5,384 | $ 6,180 |
Average rate paid for the year (in percent) | 0.04% | 0.10% | 0.91% | |
Average rate paid on period-end borrowings (in percent) | 0.04% | 0.04% | 0.46% | |
Other Short-Term Borrowings [Member] | ||||
Short-term Debt [Line Items] | ||||
Balance at December 31 | [2] | $ 29,602 | $ 74,803 | $ 339 |
Maximum indebtedness at any month end | [2] | 58,309 | 94,071 | 3,746 |
Daily average indebtedness outstanding | [2] | $ 47,748 | $ 63,733 | $ 3,047 |
Average rate paid for the year (in percent) | 2.84% | 4.36% | 1.73% | |
Average rate paid on period-end borrowings (in percent) | 2.36% | 3.00% | 4.11% | |
FHLB Advances [Member] | ||||
Short-term Debt [Line Items] | ||||
Balance at December 31 | $ 600 | |||
Warehouse Line Borrowings [Member] | ||||
Short-term Debt [Line Items] | ||||
Balance at December 31 | $ 29,000 | |||
[1] | Balances are fully collateralized by government treasury or agency securities held in the Company's investment portfolio. | |||
[2] | Comprised of FHLB advances totaling $ 0.6 29.0 |
LONG-TERM BORROWINGS - Schedule
LONG-TERM BORROWINGS - Scheduled minimum future principal payments (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Long-term Borrowings [Abstract] | |
2022 | $ 312 |
2023 | 257 |
2024 | 199 |
2025 | 116 |
Total | $ 884 |
LONG-TERM BORROWINGS - Narrativ
LONG-TERM BORROWINGS - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Federal Home Loan Bank Advances [Member] | ||
Debt Instrument [Line Items] | ||
FHLB advances | $ 0.9 | $ 2.2 |
Weighted-average rate (in percent) | 3.37% | 3.47% |
FHLB Debt instrument payment terms | The advances mature at varying dates from 2022 through 2025 and had a weighted-average rate of 3.37% and 3.47% at December 31, 2021 and 2020, respectively. | |
Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Note Payable Amount | $ 0.9 |
LONG-TERM BORROWINGS - Narrat_2
LONG-TERM BORROWINGS - Narrative 2 (Details) - USD ($) $ in Millions | Apr. 12, 2016 | May 31, 2005 | Nov. 30, 2004 | Dec. 31, 2021 |
CCBG Capital Trust II [Member] | ||||
Debt Instrument [Line Items] | ||||
Description of interest rate basis | 3-month LIBOR | |||
CCBG Capital Trust I [Member] | ||||
Debt Instrument [Line Items] | ||||
Description of interest rate basis | 3-month LIBOR | |||
Junior Subordinated Deferrable Interest Notes [Member] | CCBG Capital Trust II [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes Issued | $ 32 | |||
Debt Instrument Issued | $ 31 | |||
Note Payable Maturity Date | Jun. 15, 2035 | |||
Interest rate, basis spread (in percent) | 1.80% | |||
Proceeds received from the Trust | $ 32 | |||
Tier One Risk Based Capital | 31 | |||
Junior Subordinated Deferrable Interest Notes [Member] | CCBG Capital Trust II [Member] | Common Stock [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes Issued | $ 0.9 | |||
Junior Subordinated Deferrable Interest Notes [Member] | CCBG Capital Trust I [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes Issued | 30.9 | |||
Debt Instrument Issued | $ 30 | |||
Note Payable Maturity Date | Dec. 31, 2034 | |||
Interest rate, basis spread (in percent) | 1.90% | |||
Proceeds received from the Trust | $ 30.9 | |||
Tier One Risk Based Capital | $ 20 | |||
Junior Subordinated Deferrable Interest Notes [Member] | CCBG Capital Trust I [Member] | Common Stock [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes Issued | $ 0.9 | |||
Subordinated Debt [Member] | ||||
Extinguishment Of Debt [Line Items] | ||||
Extinguishment Of Debt Amount | $ 10 |
INCOME TAXES - Provision for in
INCOME TAXES - Provision for income taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current: | |||
Federal | $ 12,039 | $ 8,625 | $ 8,481 |
State | 1,044 | 1,658 | 247 |
Total | 13,083 | 10,283 | 8,728 |
Deferred: | |||
Federal | (3,246) | (143) | (680) |
State | (10) | 130 | 1,913 |
Change in Valuation Allowance | 8 | (40) | (8) |
Total | (3,248) | (53) | 1,225 |
Total | |||
Federal | 8,793 | 8,482 | 7,801 |
State | 1,034 | 1,788 | 2,160 |
Change in Valuation Allowance | 8 | (40) | (8) |
Total | $ 9,835 | $ 10,230 | $ 9,953 |
INCOME TAXES - Income tax recon
INCOME TAXES - Income tax reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax [Abstract] | |||
Tax Expense at Federal Statutory Rate | $ 10,385 | $ 11,106 | $ 8,560 |
Increases (Decreases) Resulting From: | |||
Tax-Exempt Interest Income | (271) | (341) | (425) |
State Taxes, Net of Federal Benefit | 819 | 1,413 | 1,342 |
Other | 375 | 601 | 294 |
Change in Valuation Allowance | 8 | (40) | (8) |
Tax-Exempt Cash Surrender Value Life Insurance Benefit | (173) | (173) | (175) |
Expense Due to Reduction of Florida Corporate Income Tax Rate | 0 | 0 | 365 |
Noncontrolling Interest | (1,308) | (2,336) | 0 |
Actual Tax Expense | $ 9,835 | $ 10,230 | $ 9,953 |
INCOME TAXES - Deferred income
INCOME TAXES - Deferred income tax liabilities and assets (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred Tax Assets attributable to: | ||
Allowance for Credit Losses | $ 5,308,000 | $ 6,037,000 |
Accrued Pension/SERP | 4,468,000 | 16,052,000 |
State Net Operating Loss and Tax Credit Carry-Forwards | 1,984,000 | 2,335,000 |
Other Real Estate Owned | 1,029,000 | 1,066,000 |
Accrued SERP Liability | 2,442,000 | 2,104,000 |
Lease Liability | 2,597,000 | 2,581,000 |
Net Unrealized Losses on Investment Securities | 1,532,000 | 0 |
Other | 2,325,000 | 2,637,000 |
Total Deferred Tax Assets | 21,685,000 | 32,812,000 |
Deferred Tax Liabilities attributable to: | ||
Depreciation on Premises and Equipment | 3,208,000 | 4,408,000 |
Deferred Loan Fees and Costs | 2,016,000 | 2,824,000 |
Intangible Assets | 3,276,000 | 3,290,000 |
Accrued Pension Liability | 2,138,000 | 4,723,000 |
Right of Use Asset | 2,453,000 | 2,411,000 |
Investments | 469,000 | 469,000 |
Other | 857,000 | 1,165,000 |
Total Deferred Tax Liabilities | 14,417,000 | 19,290,000 |
Valuation Allowance | 1,648,000 | 1,640,000 |
Net Deferred Tax Assets | $ 5,620,000 | $ 11,882,000 |
INCOME TAXES - Narrative 2 (Det
INCOME TAXES - Narrative 2 (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating Loss Carryforwards [Line Items] | |||
Unrecognized tax benefits | $ 0.1 | ||
Statutory federal income tax rate to pre-tax income (in percent) | 21.00% | 21.00% | 21.00% |
Minimum [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Tax credit carry forwards, expiration dates | Dec. 31, 2022 | ||
Maximum [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Tax credit carry forwards, expiration dates | Dec. 31, 2041 | ||
State [Member] | 2022 through 2041 [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss and Tax credit carryforward, valuation allowance | $ 2 | ||
Inactive Subsidiary [Member] | State [Member] | 2022 through 2041 [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards, valuation allowance | $ 1.6 |
INCOME TAXES - Narrative 3 (Det
INCOME TAXES - Narrative 3 (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Income Tax [Abstract] | |||
Interest and penalties | $ 0 | $ 0 | $ 0 |
Amounts accrued for interest and penalties | $ 0 | $ 0 |
STOCK-BASED COMPENSATION - Blac
STOCK-BASED COMPENSATION - Black-Scholes option pricing model (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stock-Based Compensation [Abstract] | |||
Dividend yield | 2.50% | 2.40% | 2.00% |
Expected volatility | 21.80% | 45.60% | 17.40% |
Risk-free interest rate | 0.10% | 0.90% | 2.30% |
Expected life (in months) | 6 months | 6 months | 6 months |
STOCK-BASED COMPENSATION - Narr
STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation Expense | $ 1,600,000 | $ 1,600,000 | $ 2,200,000 |
2021 Director Stock Purchase Plan (DSPP) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of common stock purchase (in percent) | 90.00% | ||
Shares reserved for issuance (in shares) | 300,000 | ||
Shares eligible for issuance (in shares) | 280,638 | ||
Shares issued (in shares) | 19,362 | 16,119 | 15,332 |
Compensation Expense | $ 100,000 | $ 100,000 | $ 100,000 |
2021 Associate Stock Purchase Plan (ASPP) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of common stock purchase (in percent) | 90.00% | ||
Shares reserved for issuance (in shares) | 400,000 | ||
Shares eligible for issuance (in shares) | 377,874 | ||
Shares issued (in shares) | 22,126 | 33,910 | 27,304 |
Compensation Expense | $ 100,000 | $ 200,000 | $ 100,000 |
Percentage of outstanding stock purchase (in percent) | 10.00% | ||
Maximum Stock purchases under the plan | $ 25,000 | ||
Weighted average estimated fair value (in dollars per shares) | $ 3.96 | $ 5.83 | $ 3.61 |
2021 Associate Incentive Plan (AIP) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares reserved for issuance (in shares) | 700,000 | ||
Shares eligible for issuance (in shares) | 25,356 | ||
Shares remain eligible for issuance | 603,251 | ||
Percentage of award in form of stock | 60.00% | ||
Percentage of award in form of cash bonus | 40.00% | ||
Common Stock Capital Shares earned not issued | 29,926 | ||
Compensation Expense | $ 1,200,000 | $ 1,000,000 | $ 900,000 |
Share Based Compensation Arrangement By Share Based Payment Award Grant Date Fair Value of Shares | $ 1,000,000 | ||
2021 Associate Incentive Plan (AIP) [Member] | Director [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares issued (in shares) | 10,377 | ||
Executive Long-Term Incentive Plan President[Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Common Stock Capital Shares earned not issued | 6,849 | ||
Executive Long-Term Incentive Plan (LTIP) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares issued (in shares) | 27,915 | 32,482 | 15,272 |
Compensation Expense | $ 200,000 | $ 400,000 | $ 1,200,000 |
EMPLOYEE BENEFIT PLANS - Change
EMPLOYEE BENEFIT PLANS - Changes in benefit obligation, changes in plan assets, the funded status (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Change in Projected Benefit Obligation: | |||
Actuarial (Gain) Loss | $ (31,339) | $ 27,924 | $ 7,642 |
Components of Net Periodic Benefit Costs: | |||
Defined benefit plan settlement | 3,072 | 0 | 0 |
Defined benefit pension plan [Member] | |||
Change in Projected Benefit Obligation: | |||
Benefit Obligation at Beginning of Year | 212,566 | 180,830 | 149,347 |
Service Cost | 6,971 | 5,828 | 6,114 |
Interest Cost | 4,885 | 5,612 | 6,178 |
Actuarial (Gain) Loss | (14,934) | 32,172 | 25,715 |
Benefits Paid | (2,087) | (11,677) | (6,255) |
Expenses Paid | (259) | (260) | (269) |
Settlements | (34,634) | 0 | 0 |
Special/Contractual Termination Benefits | 0 | 61 | 0 |
Projected Benefit Obligation at End of Year | 172,508 | 212,566 | 180,830 |
Change in Plan Assets: | |||
Fair Value of Plan Assets at Beginning of Year | 171,775 | 161,646 | 134,535 |
Actual Return (Loss) on Plan Assets | 30,479 | 17,066 | 28,635 |
Employer Contributions | 0 | 5,000 | 5,000 |
Benefits Paid | (2,087) | (11,677) | (6,255) |
Expenses Paid | (259) | (260) | (269) |
Settlements | (34,634) | 0 | 0 |
Fair Value of Plan Assets at End of Year | 165,274 | 171,775 | 161,646 |
Funded Status of Plan and Accrued Liability Recognized at End of Year: | |||
Other Liabilities | 7,234 | 40,791 | 19,184 |
Accumulated Benefit Obligation at End of Year | 149,569 | 177,362 | 156,327 |
Components of Net Periodic Benefit Costs: | |||
Service Cost | 6,971 | 5,828 | 6,114 |
Interest Cost | 4,885 | 5,612 | 6,178 |
Expected Return on Plan Assets | (11,147) | (10,993) | (9,527) |
Amortization of Prior Service Costs | 15 | 15 | 15 |
Special/Contractual Termination Benefits | 0 | 61 | 0 |
Net Loss Amortization | 6,764 | 3,933 | 3,862 |
Defined benefit plan settlement | 3,072 | 0 | 0 |
Net Periodic Benefit Cost | $ 10,560 | $ 4,456 | $ 6,642 |
Weighted-average assumptions used to determine benefit obligations: | |||
Discount Rate (in percent) | 3.11% | 2.88% | 3.53% |
Rate of Compensation Increase (in percent) | 4.40% | 4.00% | 4.00% |
Measurement Date | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Weighted-Average Assumptions Used to Determine Benefit Cost: | |||
Discount Rate (in percent) | 2.88% | 3.53% | 4.43% |
Expected Return on Plan Assets (in percent) | 6.75% | 7.00% | 7.25% |
Rate of Compensation Increase (in percent) | 4.00% | 4.00% | 4.00% |
Amortization Amounts from Accumulated Other Comprehensive Income: | |||
Net Actuarial Loss (Gain) | $ (34,265) | $ 26,098 | $ 6,606 |
Prior Service Cost | (15) | (15) | (15) |
Net Loss | (9,836) | (3,933) | (3,862) |
Deferred Tax (Benefit) Expense | 11,183 | (5,615) | (694) |
Other Comprehensive Loss (Gain), net of tax | (32,933) | 16,535 | 2,035 |
Amounts Recognized in Accumulated Other Comprehensive Income: | |||
Net Actuarial Losses | 15,300 | 59,400 | 37,235 |
Prior Service Cost | 20 | 35 | 50 |
Deferred Tax Benefit | (3,884) | (15,066) | (9,451) |
Accumulated Other Comprehensive Loss, net of tax | $ 11,436 | $ 44,369 | $ 27,834 |
EMPLOYEE BENEFIT PLANS - Pensio
EMPLOYEE BENEFIT PLANS - Pension plan asset allocation (Details) - Defined benefit pension plan [Member] | Dec. 31, 2021 | Dec. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation (in percent) | 100.00% | |
Percentage of Plan Assets at Year-End (in percent) | 100.00% | 100.00% |
Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation (in percent) | 68.00% | |
Percentage of Plan Assets at Year-End (in percent) | 73.00% | 71.00% |
Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation (in percent) | 27.00% | |
Percentage of Plan Assets at Year-End (in percent) | 23.00% | 21.00% |
Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation (in percent) | 5.00% | |
Percentage of Plan Assets at Year-End (in percent) | 4.00% | 8.00% |
EMPLOYEE BENEFIT PLANS - Major
EMPLOYEE BENEFIT PLANS - Major categories of assets in the Company's pension plan (Details) - Defined benefit pension plan [Member] - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair Value of Plan Assets | $ 165,274 | $ 171,775 | $ 161,646 | $ 134,535 |
U.S. Treasury Securities [Member] | Level 1 Inputs [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair Value of Plan Assets | 200 | 405 | ||
Mutual Funds [Member] | Level 1 Inputs [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair Value of Plan Assets | 156,726 | 155,192 | ||
Cash and Cash Equivalents [Member] | Level 1 Inputs [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair Value of Plan Assets | 6,881 | 12,789 | ||
U.S. Government Agency [Member] | Level 2 Inputs [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair Value of Plan Assets | 527 | 1,555 | ||
Corporate Notes/Bonds [Member] | Level 2 Inputs [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair Value of Plan Assets | $ 940 | $ 1,834 |
EMPLOYEE BENEFIT PLANS - Expect
EMPLOYEE BENEFIT PLANS - Expected Benefit Payments (Details) - Defined benefit pension plan [Member] $ in Thousands | Dec. 31, 2021USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
2022 | $ 13,463 |
2023 | 12,567 |
2024 | 12,774 |
2025 | 12,703 |
2026 | 12,070 |
2027 through 2031 | 51,009 |
Total | $ 114,586 |
EMPLOYEE BENEFIT PLANS - Amount
EMPLOYEE BENEFIT PLANS - Amounts contributed to pension plan in 2021 and 2020 (Details) - Defined benefit pension plan [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Actual Contributions | $ 0 | $ 5,000 |
Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Expected contribution for 2022 | 5,000 | |
Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Expected contribution for 2022 | $ 0 |
EMPLOYEE BENEFIT PLANS - SERP c
EMPLOYEE BENEFIT PLANS - SERP changes in benefit obligation, the funded status of the plan, components of pension expense (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Change in Projected Benefit Obligation: | |||
Actuarial (Gain) Loss | $ (31,339,000) | $ 27,924,000 | $ 7,642,000 |
Supplemental Executive Retirement Plan ("SERP") [Member] | |||
Change in Projected Benefit Obligation: | |||
Benefit Obligation at Beginning of Year | 13,402,000 | 10,244,000 | 8,860,000 |
Service Cost | 35,000 | 31,000 | 0 |
Interest Cost | 243,000 | 321,000 | 349,000 |
Actuarial (Gain) Loss | (146,000) | 1,826,000 | 1,035,000 |
Plan Amendments | 0 | 980,000 | 0 |
Projected Benefit Obligation at End of Year | 13,534,000 | 13,402,000 | 10,244,000 |
Funded Status of Plan and Accrued Liability Recognized at End of Year: | |||
Other Liabilities | 13,534,000 | 13,402,000 | 10,244,000 |
Accumulated Benefit Obligation at End of Year | 12,803,000 | 12,339,000 | 8,778,000 |
Components of Net Periodic Benefit Costs: | |||
Service Cost | 35,000 | 31,000 | 0 |
Interest Cost | 243,000 | 321,000 | 349,000 |
Amortization of Prior Service Cost | 277,000 | 327,000 | 0 |
Net Loss Amortization | 970,000 | 503,000 | 761,000 |
Net Periodic Benefit Cost | $ 1,525,000 | $ 1,182,000 | $ 1,110,000 |
Weighted-average used to determine the benefit obligations: | |||
Discount Rate (in percent) | 2.80% | 2.38% | 3.16% |
Rate of Compensation Increase (in percent) | 4.40% | 4.00% | 4.00% |
Measurement Date | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Weighted-Average Assumptions Used to Determine Benefit Cost: | |||
Discount Rate (in percent) | 2.38% | 3.16% | 4.23% |
Rate of Compensation Increase (in percent) | 4.00% | 3.50% | 3.50% |
Amortization Amounts from Accumulated Other Comprehensive Income: | |||
Net Actuarial Loss (Gain) | $ (146,000) | $ 1,826,000 | $ 1,035,000 |
Prior Service Cost | (219,000) | 895,000 | 0 |
Net Loss | (970,000) | (458,000) | (761,000) |
Deferred Tax (Benefit) Expense | 154,000 | (573,000) | (70,000) |
Other Comprehensive Loss (Gain), net of tax | (1,181,000) | 1,690,000 | 204,000 |
Amounts Recognized in Accumulated Other Comprehensive Income: | |||
Net Actuarial Loss | (1,875,000) | (2,991,000) | 1,622,000 |
Prior Service Cost | 429,000 | 895,000 | 0 |
Deferred Tax Benefit | (584,000) | (985,000) | (411,000) |
Accumulated Other Comprehensive Loss, net of tax | $ 1,720,000 | $ 2,901,000 | $ 1,211,000 |
EMPLOYEE BENEFIT PLANS - SERP E
EMPLOYEE BENEFIT PLANS - SERP Expected Benefit Payments (Details) - Supplemental Executive Retirement Plan ("SERP") [Member] $ in Thousands | Dec. 31, 2021USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
2022 | $ 7,521 |
2023 | 4,994 |
2024 | 952 |
2025 | 36 |
2027 through 2031 | 316 |
Total | $ 13,847 |
EMPLOYEE BENEFIT PLANS - Narrat
EMPLOYEE BENEFIT PLANS - Narrative 1 (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Net actuarial loss | $ 1,000 | ||
Settlement loss | (3,072) | $ 0 | $ 0 |
Defined benefit pension plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net actuarial loss | (1,700) | ||
Settlement loss | $ (3,072) | $ 0 | $ 0 |
EMPLOYEE BENEFIT PLANS - Narr_2
EMPLOYEE BENEFIT PLANS - Narrative 2 (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Mar. 01, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest in CCHL subsidiary entity | 51.00% | 51.00% | ||
Minimum [Member] | Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation (in percent) | 55.00% | |||
Minimum [Member] | Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation (in percent) | 17.00% | |||
Minimum [Member] | Cash and Cash Equivalents [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation (in percent) | 0.00% | |||
Maximum [Member] | Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation (in percent) | 81.00% | |||
Maximum [Member] | Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation (in percent) | 37.00% | |||
Maximum [Member] | Cash and Cash Equivalents [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation (in percent) | 10.00% | |||
Employee Benefit 401 K Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Matching contributions (in percent) | 50.00% | |||
Participant's compensation for eligible associates (in percent) | 6.00% | |||
Matching contributions | $ 1 | $ 0.8 | $ 0.7 | |
Shares reserved for issuance (in shares) | 50,000 | |||
Additional Employers Contribution for Associates Hired After Year 2019 as a percentage of compensation | 3.00% | |||
Employee Benefit 401 K Plan [Member] | CCHL associates [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Matching contributions | $ 0.7 | $ 0.5 | ||
Employee Benefit 401 K Plan [Member] | Maximum [Member] | CCHL associates [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Matching contributions (in percent) | 3.00% | |||
Dividend Reinvestment and Optional Stock Purchase Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Shares reserved for issuance (in shares) | 250,000 |
EARNINGS PER SHARE - Computatio
EARNINGS PER SHARE - Computation of basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Numerator: | |||
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ 33,396 | $ 31,576 | $ 30,807 |
Denominator: | |||
Denominator for Basic Earnings Per Share Weighted-Average Shares | 16,863 | 16,785 | 16,770 |
Effects of Dilutive Securities Stock Compensation Plans | 30 | 37 | 57 |
Denominator for Diluted Earnings Per Share Adjusted Weighted-Average Shares and Assumed Conversions | 16,893 | 16,822 | 16,827 |
Basic Earnings Per Share (in dollers per shares) | $ 1.98 | $ 1.88 | $ 1.84 |
Diluted Earnings Per Share (in dollers per shares) | $ 1.98 | $ 1.88 | $ 1.83 |
REGULATORY MATTERS - Company an
REGULATORY MATTERS - Company and Bank's actual capital amounts and ratios (Details) $ in Thousands | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Capital City Bank Group [Member] | ||
Actual [Abstract] | ||
Common Equity Tier 1 | $ 310,947 | $ 281,494 |
Tier I capital to total average assets | 361,947 | 332,494 |
Capital | 384,743 | 355,338 |
Tier 1 leverage | $ 361,947 | $ 332,494 |
Common Equity Tier 1, percent | 0.1386 | 0.1371 |
Tier 1 Based Capital, percent | 0.1614 | 0.1619 |
Total Capital, percent | 0.1715 | 0.1730 |
Tier 1 Leverage, percent | 0.0895 | 0.0933 |
Required for Capital Adequacy Purposes [Abstract] | ||
Common Equity Tier 1, Required for Capital | $ 100,925 | $ 92,424 |
Tier I Capital, Requied for Capital | 134,566 | 123,232 |
Total Capital, Requied for Capital | 179,422 | 164,310 |
Tier 1 Leverage, Required for Capital | $ 161,749 | $ 142,560 |
Common Equity Tier 1, Required for Capital, percent | 0.0450 | 0.0450 |
Tier 1 Capital, Required for Capital, percent | 0.0600 | 0.0600 |
Total Capital, Required for Capital, percent | 0.0800 | 0.0800 |
Tier I Leverage, Required for Capital, percent | 0.0400 | 0.0400 |
Capital City Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 43,000 | |
Actual [Abstract] | ||
Common Equity Tier 1 | 346,959 | $ 302,147 |
Tier I capital to total average assets | 346,959 | 302,147 |
Capital | 369,754 | 324,991 |
Tier 1 leverage | $ 346,959 | $ 302,147 |
Common Equity Tier 1, percent | 0.1550 | 0.1475 |
Tier 1 Based Capital, percent | 0.1550 | 0.1475 |
Total Capital, percent | 0.1652 | 0.1587 |
Tier 1 Leverage, percent | 0.0859 | 0.0849 |
Required for Capital Adequacy Purposes [Abstract] | ||
Common Equity Tier 1, Required for Capital | $ 100,725 | $ 92,177 |
Tier I Capital, Requied for Capital | 134,300 | 122,903 |
Total Capital, Requied for Capital | 179,066 | 163,870 |
Tier 1 Leverage, Required for Capital | $ 161,515 | $ 142,280 |
Common Equity Tier 1, Required for Capital, percent | 0.0450 | 0.0450 |
Tier 1 Capital, Required for Capital, percent | 0.0600 | 0.0600 |
Total Capital, Required for Capital, percent | 0.0800 | 0.0800 |
Tier I Leverage, Required for Capital, percent | 0.0400 | 0.0400 |
To Be Well Capitialized Under Prompt Corrective Action Provisions [Abstract] | ||
Common Equity Tier 1, Well-Capitialized | $ 145,491 | $ 133,145 |
Tier 1 Capital, Well-Capitalized | 179,066 | 163,870 |
Total Capital, Well-Capitalized | 223,833 | 204,838 |
Tier 1 Leverage, Well-Capitalized | $ 201,894 | $ 177,850 |
Common Equity Tier 1, Well-Capitalized, percent | 0.0650 | 0.0650 |
Tier 1 Capital, Well-Capitalized, percent | 0.0800 | 0.0800 |
Total Capital, Well-Capitalized, percent | 0.1000 | 0.1000 |
Tier 1 Leverage, Well-Capitalized, percent | 0.0500 | 0.0500 |
ACCUMULATED OTHER COMPREHENSI_3
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Accumulated other comprehensive loss (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Activity in accumulated other comprehensive loss, net of tax | |||
Balance, Begining | $ (44,142) | $ (28,815) | |
Other comprehensive loss during the period | 27,928 | $ (15,961) | 634 |
Balance, Ending | (16,214) | (44,142) | |
Interest rate swaps [Member] | |||
Activity in accumulated other comprehensive loss, net of tax | |||
Balance, Begining | 428 | 0 | 0 |
Other comprehensive loss during the period | 1,102 | 428 | 0 |
Balance, Ending | 1,530 | 428 | 0 |
Securities Available for Sale [Member] | |||
Activity in accumulated other comprehensive loss, net of tax | |||
Balance, Begining | 2,700 | 864 | (2,008) |
Other comprehensive loss during the period | (7,288) | 1,836 | 2,872 |
Balance, Ending | (4,588) | 2,700 | 864 |
Retirement plan [member] | |||
Activity in accumulated other comprehensive loss, net of tax | |||
Balance, Begining | (47,270) | (29,045) | (26,807) |
Other comprehensive loss during the period | 34,114 | (18,225) | (2,238) |
Balance, Ending | (13,156) | (47,270) | (29,045) |
Accumulated Other Comprehensive (Loss) Income [Member] | |||
Activity in accumulated other comprehensive loss, net of tax | |||
Balance, Begining | (44,142) | (28,181) | (28,815) |
Other comprehensive loss during the period | 27,928 | (15,961) | 634 |
Balance, Ending | $ (16,214) | $ (44,142) | $ (28,181) |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Management [Member] | ||
Related Party Transaction [Line Items] | ||
Officers and directors indebted aggregate amount | $ 3.8 | $ 4.3 |
Loan taken | 2.4 | |
Loan payment made | 2.9 | |
Deposits from certain directors, executive officers, and their related interests | 50.1 | $ 41.9 |
Lease Agreement [Member] | ||
Related Party Transaction [Line Items] | ||
Annual lease payments of approximately | $ 0.2 |
OTHER NONINTEREST EXPENSE (Deta
OTHER NONINTEREST EXPENSE (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Noninterest Expense: | |||
Legal Fees | $ 1,411 | $ 1,570 | $ 1,722 |
Professional Fees | 5,633 | 4,863 | 4,345 |
Telephone | 2,975 | 2,869 | 2,645 |
Advertising | 2,683 | 2,998 | 2,056 |
Processing Services | 6,569 | 5,832 | 5,779 |
Insurance - Other | 2,096 | 1,607 | 1,007 |
Pension - Other | 1,913 | (216) | 1,642 |
Other | 12,242 | 11,396 | 9,079 |
Total | $ 35,522 | $ 30,919 | $ 28,275 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Company's off-balance sheet obligations) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Loss Contingencies [Line Items] | ||
Fixed | $ 222,736 | $ 166,922 |
Variable | 505,897 | 596,572 |
Total | 728,633 | 763,494 |
Commitments to Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Fixed | 217,531 | 160,372 |
Variable | 505,897 | 596,572 |
Total | 723,428 | 756,944 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Fixed | 5,205 | 6,550 |
Variable | 0 | 0 |
Total | $ 5,205 | $ 6,550 |
COMMITMENTS AND CONTINGENCIES_3
COMMITMENTS AND CONTINGENCIES (Allowance for credit losses for off-balance sheet credit commitments) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Beginning Balance | $ 1,644 | $ 157 | $ 160 |
Provision for Credit Losses | 1,253 | 611 | (3) |
Ending Balance | 2,897 | 1,644 | 157 |
Adoption of ASC 326 [Member] | |||
Beginning Balance | $ 0 | 876 | 0 |
Ending Balance | $ 0 | $ 876 |
COMMITMENTS AND CONTINGENCIES -
COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Visa U.S.A. network [Member] | Indemnification Obligation [Member] | |||
Loss Contingencies [Line Items] | |||
Increase in litigation reserves | $ 0.8 | $ 0.7 | $ 0.6 |
FAIR VALUE MEASUREMENTS - Summa
FAIR VALUE MEASUREMENTS - Summary of fair values for assets and liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
ASSETS: | |||
Loans Held for Sale | $ 52,532 | $ 114,039 | |
Mortgage Servicing Rights | 3,774 | 3,452 | $ 910 |
Fair Value, Measurements, Recurring [Member] | |||
ASSETS: | |||
Loans Held for Sale | 52,532 | 114,039 | |
Interest Rate Swap Derivative | 2,050 | 574 | |
Mortgage Servicing Rights | 4,718 | ||
LIABILITIES: | |||
Derivative Liabilities | 7 | ||
Fair Value, Measurements, Recurring [Member] | U.S. Government Treasury [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 187,868 | 104,519 | |
Fair Value, Measurements, Recurring [Member] | U.S. Government Agency [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 237,578 | 208,531 | |
Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 46,980 | 3,632 | |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 88,869 | 515 | |
Fair Value, Measurements, Recurring [Member] | Other Securities [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 7,094 | 7,673 | |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 86,222 | ||
Fair Value, Measurements, Recurring [Member] | Mortgage Banking IRLC Derivative [Member] | |||
ASSETS: | |||
Interest Rate Swap Derivative | 1,258 | ||
Mortgage Banking Derivative Asset | 4,825 | ||
Fair Value, Measurements, Recurring [Member] | Mortgage Banking Hedge Derivative [Member] | |||
LIABILITIES: | |||
Derivative Liabilities | 907 | ||
Level 1 Inputs [Member] | |||
ASSETS: | |||
Loans Held for Sale | 0 | 0 | |
Interest Rate Swap Derivative | 0 | 0 | |
Mortgage Banking Derivative Asset | 0 | ||
Mortgage Servicing Rights | 0 | 0 | |
Level 1 Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | |||
ASSETS: | |||
Mortgage Banking Derivative Asset | 0 | ||
Level 1 Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | |||
LIABILITIES: | |||
Derivative Liabilities | 0 | 0 | |
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | |||
ASSETS: | |||
Loans Held for Sale | 0 | 0 | |
Interest Rate Swap Derivative | 0 | 0 | |
Mortgage Servicing Rights | 0 | ||
LIABILITIES: | |||
Derivative Liabilities | 0 | ||
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government Treasury [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 187,868 | 104,519 | |
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government Agency [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Other Securities [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 0 | ||
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage Banking IRLC Derivative [Member] | |||
ASSETS: | |||
Interest Rate Swap Derivative | 0 | ||
Mortgage Banking Derivative Asset | 0 | ||
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage Banking Hedge Derivative [Member] | |||
LIABILITIES: | |||
Derivative Liabilities | 0 | ||
Level 2 Inputs [Member] | |||
ASSETS: | |||
Loans Held for Sale | 52,532 | 114,039 | |
Interest Rate Swap Derivative | 2,050 | 574 | |
Mortgage Banking Derivative Asset | 0 | ||
Mortgage Servicing Rights | 0 | 0 | |
Level 2 Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | |||
ASSETS: | |||
Mortgage Banking Derivative Asset | 0 | ||
Level 2 Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | |||
LIABILITIES: | |||
Derivative Liabilities | 7 | 907 | |
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | |||
ASSETS: | |||
Loans Held for Sale | 52,532 | 114,039 | |
Interest Rate Swap Derivative | 2,050 | 574 | |
Mortgage Servicing Rights | 0 | ||
LIABILITIES: | |||
Derivative Liabilities | 7 | ||
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government Treasury [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government Agency [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 237,578 | 208,531 | |
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 46,980 | 3,632 | |
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 88,869 | 515 | |
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Other Securities [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 7,094 | 7,673 | |
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 86,222 | ||
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage Banking IRLC Derivative [Member] | |||
ASSETS: | |||
Interest Rate Swap Derivative | 0 | ||
Mortgage Banking Derivative Asset | 0 | ||
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage Banking Hedge Derivative [Member] | |||
LIABILITIES: | |||
Derivative Liabilities | 907 | ||
Level 3 Inputs [Member] | |||
ASSETS: | |||
Loans Held for Sale | 0 | 0 | |
Interest Rate Swap Derivative | 0 | 0 | |
Mortgage Banking Derivative Asset | 1,258 | ||
Mortgage Servicing Rights | 4,718 | 3,451 | |
Level 3 Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | |||
ASSETS: | |||
Mortgage Banking Derivative Asset | 4,825 | ||
Level 3 Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | |||
LIABILITIES: | |||
Derivative Liabilities | 0 | 0 | |
Level 3 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | |||
ASSETS: | |||
Loans Held for Sale | 0 | 0 | |
Interest Rate Swap Derivative | 0 | 0 | |
Mortgage Servicing Rights | 4,718 | ||
LIABILITIES: | |||
Derivative Liabilities | 0 | ||
Level 3 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government Treasury [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Level 3 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government Agency [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Level 3 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Level 3 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Level 3 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Other Securities [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Level 3 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | |||
ASSETS: | |||
Assets, Fair Value Disclosure | 0 | ||
Level 3 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage Banking IRLC Derivative [Member] | |||
ASSETS: | |||
Interest Rate Swap Derivative | $ 1,258 | ||
Mortgage Banking Derivative Asset | 4,825 | ||
Level 3 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage Banking Hedge Derivative [Member] | |||
LIABILITIES: | |||
Derivative Liabilities | $ 0 |
FAIR VALUE MEASUREMENTS - Sum_2
FAIR VALUE MEASUREMENTS - Summary of estimated fair values of significant financial instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
ASSETS: | |||
Investment Securities Available for Sale | $ 654,611 | $ 324,870 | |
Equity Securities | 861 | 0 | |
Loans Held for Sale | 52,532 | 114,039 | |
Mortgage Servicing Rights | 3,774 | 3,452 | $ 910 |
Level 1 Inputs [Member] | |||
ASSETS: | |||
Cash | 65,313 | 67,919 | |
Short-Term Investments | 970,041 | 860,630 | |
Investment Securities Available for Sale | 187,868 | 104,519 | |
Investment Securities Held to Maturity | 113,877 | 5,014 | |
Equity Securities | 0 | ||
Loans Held for Sale | 0 | 0 | |
Other equity securities | 0 | 0 | |
Interest Rate Swap Derivative | 0 | 0 | |
Mortgage Servicing Rights | 0 | 0 | |
Derivative Assets | 0 | ||
Loans, Net of Allowance for Credit Losses | 0 | 0 | |
LIABILITIES: | |||
Deposits | 0 | 0 | |
Short-Term Borrowings | 0 | 0 | |
Subordinated Notes Payable | 0 | 0 | |
Long-Term Borrowings | 0 | 0 | |
Level 1 Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | |||
ASSETS: | |||
Derivative Assets | 0 | ||
Level 1 Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | |||
LIABILITIES: | |||
Derivative Liabilities | 0 | 0 | |
Level 2 Inputs [Member] | |||
ASSETS: | |||
Cash | 0 | 0 | |
Short-Term Investments | 0 | 0 | |
Investment Securities Available for Sale | 466,743 | 220,351 | |
Investment Securities Held to Maturity | 225,822 | 170,161 | |
Equity Securities | 861 | ||
Loans Held for Sale | 52,532 | 114,039 | |
Other equity securities | 2,848 | 3,589 | |
Interest Rate Swap Derivative | 2,050 | 574 | |
Mortgage Servicing Rights | 0 | 0 | |
Derivative Assets | 0 | ||
Loans, Net of Allowance for Credit Losses | 0 | 0 | |
LIABILITIES: | |||
Deposits | 3,713,478 | 3,217,615 | |
Short-Term Borrowings | 34,557 | 79,654 | |
Subordinated Notes Payable | 42,609 | 43,449 | |
Long-Term Borrowings | 938 | 3,174 | |
Level 2 Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | |||
ASSETS: | |||
Derivative Assets | 0 | ||
Level 2 Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | |||
LIABILITIES: | |||
Derivative Liabilities | 7 | 907 | |
Level 3 Inputs [Member] | |||
ASSETS: | |||
Cash | 0 | 0 | |
Short-Term Investments | 0 | 0 | |
Investment Securities Available for Sale | 0 | 0 | |
Investment Securities Held to Maturity | 0 | 0 | |
Equity Securities | 0 | ||
Loans Held for Sale | 0 | 0 | |
Other equity securities | 0 | 0 | |
Interest Rate Swap Derivative | 0 | 0 | |
Mortgage Servicing Rights | 4,718 | 3,451 | |
Derivative Assets | 1,258 | ||
Loans, Net of Allowance for Credit Losses | 1,903,640 | 1,990,740 | |
LIABILITIES: | |||
Deposits | 0 | 0 | |
Short-Term Borrowings | 0 | 0 | |
Subordinated Notes Payable | 0 | 0 | |
Long-Term Borrowings | 0 | 0 | |
Level 3 Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | |||
ASSETS: | |||
Derivative Assets | 4,825 | ||
Level 3 Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | |||
LIABILITIES: | |||
Derivative Liabilities | 0 | 0 | |
Carrying Value [Member] | |||
ASSETS: | |||
Cash | 65,313 | 67,919 | |
Short-Term Investments | 970,041 | 860,630 | |
Investment Securities Available for Sale | 654,611 | 324,870 | |
Investment Securities Held to Maturity | 339,601 | 169,939 | |
Equity Securities | 861 | 3,589 | |
Loans Held for Sale | 52,532 | 114,039 | |
Other equity securities | 2,848 | 3,589 | |
Interest Rate Swap Derivative | 2,050 | 574 | |
Mortgage Servicing Rights | 3,774 | 3,452 | |
Derivative Assets | 1,258 | ||
Loans, Net of Allowance for Credit Losses | 1,909,859 | 1,982,610 | |
LIABILITIES: | |||
Deposits | 3,712,862 | 3,217,560 | |
Short-Term Borrowings | 34,557 | 79,654 | |
Subordinated Notes Payable | 52,887 | 52,887 | |
Long-Term Borrowings | 884 | 3,057 | |
Carrying Value [Member] | Mortgage Banking IRLC Derivative [Member] | |||
ASSETS: | |||
Derivative Assets | 4,825 | ||
Carrying Value [Member] | Mortgage Banking Hedge Derivative [Member] | |||
LIABILITIES: | |||
Derivative Liabilities | $ 7 | $ 907 |
FAIR VALUE MEASUREMENTS - Narra
FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) | 10 Months Ended | 12 Months Ended |
Dec. 31, 2020 | Dec. 31, 2021 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional Amount | $ 30,000,000 | $ 30,000,000 |
Issuances | 50,700,000 | 31,300,000 |
Transfers | 56,000,000 | 47,700,000 |
Fair value swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional Amount | 0 | 100,000 |
Fair Value, Measurements, Nonrecurring [Member] | Level 3 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans, Carrying value | 7,100,000 | 2,800,000 |
Impaired loans valuation allowance | $ 100,000 | $ 200,000 |
PARENT COMPANY FINANCIAL INFO_3
PARENT COMPANY FINANCIAL INFORMATION - Statements of Financial Condition (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||||
Cash and Due From Subsidiary Bank | $ 65,313 | $ 67,919 | ||
Equity Securities | 861 | 0 | ||
Goodwill and Other Intangibles | 93,253 | 89,095 | ||
Other Assets | 94,349 | 101,370 | ||
Total Assets | 4,263,849 | 3,798,071 | ||
LIABILITIES | ||||
Short-Term Borrowings | 34,557 | 79,654 | ||
Other Long-Term Borrowings | 884 | 3,057 | ||
Subordinated Notes Payable | 52,887 | 52,887 | ||
Other Liabilities | 67,735 | 102,076 | ||
Total Liabilities | 3,868,925 | 3,455,234 | ||
SHAREOWNERS' EQUITY | ||||
Common Stock, $.01 par value; 90,000,000 shares authorized;16,892,060 and 16,790,573 shares issued and outstanding at December 31, 2021 and 2020, respectively | 169 | 168 | ||
Additional Paid-In Capital | 34,423 | 32,283 | ||
Retained Earnings | 364,788 | 332,528 | ||
Accumulated Other Comprehensive Loss, Net of Tax | (16,214) | (44,142) | $ (28,815) | |
Total Shareowners' Equity | 383,166 | 320,837 | $ 327,016 | $ 302,587 |
Total Liabilities and Shareowners' Equity | 4,263,849 | 3,798,071 | ||
CCBG [Member] | ||||
ASSETS | ||||
Cash and Due From Subsidiary Bank | 25,768 | 39,718 | ||
Equity Securities | 120 | 0 | ||
Investment in Subsidiary Bank | 415,580 | 342,958 | ||
Goodwill and Other Intangibles | 4,158 | 0 | ||
Other Assets | 7,866 | 6,530 | ||
Total Assets | 453,492 | 389,206 | ||
LIABILITIES | ||||
Other Long-Term Borrowings | 0 | 900 | ||
Subordinated Notes Payable | 52,887 | 52,887 | ||
Other Liabilities | 17,439 | 14,582 | ||
Total Liabilities | 70,326 | 68,369 | ||
SHAREOWNERS' EQUITY | ||||
Common Stock, $.01 par value; 90,000,000 shares authorized;16,892,060 and 16,790,573 shares issued and outstanding at December 31, 2021 and 2020, respectively | 169 | 168 | ||
Additional Paid-In Capital | 34,423 | 32,283 | ||
Retained Earnings | 364,788 | 332,528 | ||
Accumulated Other Comprehensive Loss, Net of Tax | (16,214) | (44,142) | ||
Total Shareowners' Equity | 383,166 | 320,837 | ||
Total Liabilities and Shareowners' Equity | $ 453,492 | $ 389,206 |
PARENT COMPANY FINANCIAL INFO_4
PARENT COMPANY FINANCIAL INFORMATION - Statements of Financial Condition (Parentheticals) (Details) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Condensed Financial Statements, Captions [Line Items] | ||||
Common stock, par value (in dollar per share) | $ 0.01 | $ 0.01 | ||
Common stock, shares authorized | 90,000,000 | 90,000,000 | ||
Common stock, shares issued | 16,892,060 | 16,790,573 | ||
Common stock, shares outstanding | 16,892,060 | 16,790,573 | 16,771,544 | 16,747,571 |
CCBG [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Common stock, par value (in dollar per share) | $ 0.01 | $ 0.01 | ||
Common stock, shares authorized | 90,000,000 | 90,000,000 | ||
Common stock, shares issued | 16,892,060 | 16,790,573 | ||
Common stock, shares outstanding | 16,892,060 | 16,790,573 |
PARENT COMPANY FINANCIAL INFO_5
PARENT COMPANY FINANCIAL INFORMATION - Statements of Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
OPERATING EXPENSE | |||
Salaries and Associate Benefits | $ 101,470 | $ 96,280 | $ 66,352 |
Interest on Subordinated Notes Payable | 1,228 | 1,472 | 2,287 |
Professional Fees | 5,633 | 4,863 | 4,345 |
Advertising | 2,683 | 2,998 | 2,056 |
Legal Fees | 1,411 | 1,570 | 1,722 |
Earnings Before Income Taxes and Equity in Undistributed Earnings of Subsidiary Bank | 49,451 | 52,884 | 40,760 |
Income Tax Benefit | 9,835 | 10,230 | 9,953 |
Net Income | 33,396 | 31,576 | 30,807 |
CCBG [Member] | |||
OPERATING INCOME | |||
Administrative Fees | 5,516 | 6,068 | 6,517 |
Dividends | 10,000 | 21,000 | 19,000 |
Other Income | 174 | 193 | 203 |
Total Operating Income | 15,690 | 27,261 | 25,720 |
OPERATING EXPENSE | |||
Salaries and Associate Benefits | 3,558 | 3,418 | 3,928 |
Interest on Subordinated Notes Payable | 1,233 | 1,514 | 2,381 |
Professional Fees | 1,113 | 1,079 | 1,196 |
Advertising | 134 | 140 | 157 |
Legal Fees | 589 | 456 | 391 |
Other | 2,087 | 1,673 | 1,711 |
Total Operating Expense | 8,714 | 8,280 | 9,764 |
Earnings Before Income Taxes and Equity in Undistributed Earnings of Subsidiary Bank | 6,976 | 18,981 | 15,956 |
Income Tax Benefit | (717) | (406) | (632) |
Earnings Before Equity in Undistributed Earnings of Subsidiary Bank | 7,693 | 19,387 | 16,588 |
Equity in Undistributed Earnings of Subsidiary Bank | 25,703 | 12,189 | 14,219 |
Net Income | $ 33,396 | $ 31,576 | $ 30,807 |
PARENT COMPANY FINANCIAL INFO_6
PARENT COMPANY FINANCIAL INFORMATION - Statements of Cash Flows (Details) - USD ($) $ in Thousands | Apr. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
Net Income | $ 33,396 | $ 31,576 | $ 30,807 | |
Adjustments to Reconcile Net Income to Net Cash Provided By (Used In) Operating Activities: | ||||
Stock Compensation | 843 | 892 | 1,569 | |
Amortization of Intangible Assets | $ 100 | 107 | 0 | 0 |
Increase) Decrease in Other Assets | 10,885 | (38,353) | 9,830 | |
Increase in Other Liabilities | (7,846) | 40,624 | (1,176) | |
Net Cash Provided By Operating Activities | 115,924 | (48,611) | 53,689 | |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Net Cash Paid for Acquisition | (4,482) | (2,405) | 0 | |
Net Cash Used In Investing Activities | (447,720) | (32,594) | (46,875) | |
CASH FROM FINANCING ACTIVITIES: | ||||
Repayment of Other Long-Term Borrowings | (1,332) | (3,363) | (1,694) | |
Dividends Paid | (10,459) | (9,567) | (8,047) | |
Issuance of Common Stock Under Compensation Plans | 1,028 | 1,041 | 1,054 | |
Payments to Repurchase Common Stock | 0 | 2,042 | 1,805 | |
Net Cash (Used In) Provided By in Financing Activities | 438,601 | 631,331 | 95,609 | |
Net (Decrease) Increase in Cash | 106,805 | 550,126 | 102,423 | |
Cash and Cash Equivalents at Beginning of Year | 928,549 | 378,423 | 276,000 | |
Cash and Cash Equivalents at End of Year | 1,035,354 | 928,549 | 378,423 | |
CCBG [Member] | ||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
Net Income | 33,396 | 31,576 | 30,807 | |
Adjustments to Reconcile Net Income to Net Cash Provided By (Used In) Operating Activities: | ||||
Equity in Undistributed Earnings of Subsidiary Bank | (25,703) | (12,189) | (14,219) | |
Stock Compensation | 843 | 892 | 1,569 | |
Amortization of Intangible Assets | 107 | 0 | 0 | |
Increase) Decrease in Other Assets | (21) | (217) | (445) | |
Increase in Other Liabilities | 3,131 | 1,900 | 1,557 | |
Net Cash Provided By Operating Activities | 11,753 | 21,962 | 19,269 | |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Purchase of Equity Securities | (120) | 0 | 0 | |
Net Cash Paid for Acquisition | (4,482) | 0 | 0 | |
Increase in Investment in Subsidiaries | (10,770) | 0 | 0 | |
Net Cash Used In Investing Activities | (15,372) | 0 | 0 | |
CASH FROM FINANCING ACTIVITIES: | ||||
Repayment of Other Long-Term Borrowings | (900) | (600) | (600) | |
Dividends Paid | (10,459) | (9,567) | (8,047) | |
Issuance of Common Stock Under Compensation Plans | 1,028 | 1,041 | 1,054 | |
Payments to Repurchase Common Stock | 0 | (2,042) | (1,805) | |
Net Cash (Used In) Provided By in Financing Activities | (10,331) | (11,168) | (9,398) | |
Net (Decrease) Increase in Cash | (13,950) | 10,794 | 9,871 | |
Cash and Cash Equivalents at Beginning of Year | 39,718 | 28,924 | 19,053 | |
Cash and Cash Equivalents at End of Year | $ 25,768 | $ 39,718 | $ 28,924 |