Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Feb. 28, 2023 | Jun. 30, 2022 | |
Document And Entity Information | |||
Document Type | 10-K/A | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2022 | ||
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 | No | ||
Entity Interactive Data Current | No | ||
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 | $ 359,832,091 | ||
Entity Common Stock, Shares Outstanding | 17,016,994 | ||
Documents incorporated by reference | DOCUMENTS INCORPORATED BY REFERENCE Portions of our Proxy Statement for the Annual Meeting of Shareowners held on April 25, 2023, are incorporated by reference in Part III. | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Amendment Flag | true | ||
Entity a Voluntary Filer | No | ||
Entity Central Index Key | 0000726601 | ||
Icfr Auditor Attestation Flag | true | ||
Auditor | 686 | ||
Auditor name | FORVIS, LLP | ||
Auditor location | Little Rock, Arkansas | ||
Amendment Description | EXPLANATORY NOTE Capital City Bank Group, Inc. (the “Company”) is filing this Amendment No. 1 on Form 10-K/A (the “Amendment” or “Form 10-K/A”) to amend and restate certain items in its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, originally filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 1, 2023 (the “Original Form 10-K”). Except as described below, no other information included in the Original Form 10-K is being amended or updated by this Amendment and this Amendment does not purport to reflect any information or events subsequent to the filing of the Original Form 10-K. Restatement Background As previously disclosed in the Company’s Current Report on Form 8-K filed with the SEC on November 13, 2023, the Company identified certain inter-company transactions between its subsidiaries, Capital City Home Loans Inc. (“CCHL”), and Capital City Bank (“CCB”), involving residential mortgage loan purchases that were not properly recorded. The inaccuracies materially impacted the Company’s previously issued financial statements as of and for the annual period ended December 31, 2022, the three months ended March 31, 2022 and 2023, the three and six months ended June 30, 2022 and 2023, and the three and nine months ended September 30, 2022 (the “Impacted Financials”). In connection with these transactions, CCHL recorded mortgage banking revenue and a mortgage servicing right. On an ongoing basis, CCHL recognized noninterest income for servicing these loans on behalf of CCB. Because these inter-company transactions were not properly eliminated and net loan fees were not properly recorded, management, after discussion with the Company’s independent registered public accounting firm, FORVIS, LLP (“FORVIS”), and the chair of the Audit Committee of the Company’s Board of Directors, determined that the Impacted Financials should no longer be relied upon, and certain consolidated statement of financial condition line items, including loans, allowance for credit losses, other assets, other liabilities, and equity, and consolidated statement of income line items, including mortgage banking revenues, loan interest income, compensation expense, other income, income taxes, and net income, needed to be restated. For additional information on the restatements, see “Part II – Item 8. Financial Statements and Supplementary – Note 1 – Restatement of Previously Issued Consolidated Financial Statements” in this Form 10-K/A. The Company determined that it would file amendments to the Original Form 10-K and its Quarterly Reports on Form 10-Q for the three months ended March 31, 2023 and the three and six months ended June 30, 2023, including restated financial statements and related disclosures (collectively, the “Amended Reports”). All material restatement information will be included in the Amended Reports, and we do not intend to separately amend the Quarterly Reports on Form 10-Q that the Company has previously filed with the SEC for the three months ended March 31, 2022, the three and six months ended June 30, 2022, and the three and nine months ended September 30, 2022 (collectively, the “2022 Form 10-Qs”). As a result, the 2022 Form 10-Qs should no longer be relied upon. Restatement of Previously Issued Consolidated Financial Statements This Form 10-K/A includes audited restated consolidated financial statements for the year ended December 31, 2022, as well as unaudited restated interim financial information for the quarterly periods in 2022. In addition to correcting the accounting treatment for the inter-company transactions described above, the restated consolidated financial statements for the year ended December 31, 2022 included herein also correct previously identified errors that the Company determined to be immaterial, both individually and in the aggregate. For additional information on the audited consolidated financial statements for the year ended December 31, 2022 and the quarterly consolidated financial statements for the year ended December 31, 2022, see Note 24 in “Part II – Item 8, Financial Statements and Supplementary Data” in this Form 10-K/A. This Form 10-K/A also amends and restates the following items included in the Original Form 10-K as appropriate to reflect the restatement and revision of the relevant periods: Item 1. Business; Item 1A. Risk Factors; Item 6. Selected Financial Data; Item 7. Management’s Discussions and Analysis of Financial Condition and Results of Operations; Item 8. Financial Statements and Supplementary Data; Item 9A. Controls and Procedures: and Item 15. Exhibits and Financial Statement Schedules. In accordance with Rule 12b-15 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Company is also including with this Form 10-K/A currently dated certifications of the Company’s Chief Executive Officer and Chief Financial Officer (attached as Exhibits 31.1, 31.2, 32.1, and 32.2). This Form 10-K/A also contains a modified report from FORVIS on the consolidated financial statements for years ended December 31, 2022 and December 31, 2021, a modified FORVIS opinion on the effectiveness of the Company’s internal control over financial reporting as of December 31, 2022 and December 31, 2021, and a new consent of FORVIS. Except as discussed above and as further described herein, the Company has not modified or updated the disclosures presented in the Original Form 10-K. Accordingly, this Form 10-K/A does not reflect events occurring after the filing of the Original Form 10-K or modify or update those disclosures affected by any such subsequent events. Information not affected by the restatements reflects disclosures made at the time of the filing of the Original Form 10-K. Forward-looking statements included in this Form 10-K/A represent management’s views as of the date of the Original Form 10-K and should not be assumed to be accurate as of any date thereafter. This Amendment No. 1 should be read in conjunction with the Company's filings made with the SEC subsequent to the filing of the Original Form 10-K, including any amendment to those filings. Control Considerations In connection with the restatements discussed above, management has re-assessed the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures as of December 31, 2022. Based on this assessment, the Company identified a material weakness in its internal control over financial reporting for inter-company mortgage sales and servicing. As a result, the Company’s Chief Financial Officer concluded that the internal control over financial reporting and disclosure controls and procedures were not effective in 2022 and continuing during the periods covered by the Impacted Financials. Management has taken steps towards remediating the material weakness in the Company’s internal control over financial reporting. For additional information related to the material weakness in internal control over financial and the related remedial measures, see “Part II – Item 9A. Controls and Procedures.” |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 01, 2020 | Dec. 31, 2019 |
ASSETS | ||||||||
Cash and Due From Banks | $ 72,114 | $ 72,686 | $ 91,209 | $ 77,963 | $ 65,313 | |||
Federal Funds Sold and Interest Bearing Deposits | 528,536 | 497,679 | 603,315 | 790,465 | 970,041 | |||
Total Cash and Cash Equivalents | 600,650 | 570,365 | 694,524 | 868,428 | 1,035,354 | $ 928,549 | $ 378,423 | |
Investment Securities, Available for Sale, at fair value (amortized cost of $455,232 and $660,732) | 413,294 | 416,745 | 601,405 | 624,361 | 654,611 | |||
Investment Securities, Held to Maturity (fair value of $612,702 and $339,699) | 660,744 | 676,178 | 528,258 | 518,678 | 339,601 | |||
Equity Securities | 10 | 1,349 | 900 | 855 | 861 | |||
Total Investment Securities | 1,074,048 | 1,094,272 | 1,130,563 | 1,143,894 | 995,073 | |||
Loans Held For Sale, at fair value | 26,909 | 23,162 | 24,986 | 46,256 | 52,532 | |||
Loans Held for Investment | 2,547,685 | 2,369,785 | 2,235,252 | 1,988,660 | 1,931,465 | |||
Allowance for Credit Losses | (25,068) | (22,747) | (21,463) | (20,788) | (21,606) | $ (23,816) | (13,905) | |
Loans Held for Investment, Net | 2,522,617 | 2,347,038 | 2,213,789 | 1,967,872 | 1,909,859 | |||
Premises and Equipment, Net | 82,138 | 81,736 | 82,932 | 82,518 | 83,412 | |||
Goodwill and Other Intangibles | 93,093 | 93,133 | 93,173 | 93,213 | 93,253 | |||
Other Real Estate Owned | 431 | 13 | 90 | 17 | 17 | |||
Other Assets | 119,337 | 118,272 | 111,270 | 106,330 | 94,349 | |||
Total Assets | 4,519,223 | 4,327,991 | 4,351,327 | 4,308,528 | 4,263,849 | |||
Deposits [Abstract] | ||||||||
Noninterest Bearing Deposits | 1,653,620 | 1,737,046 | 1,724,671 | 1,704,329 | 1,668,912 | |||
Interest Bearing Deposits | 2,285,697 | 2,022,332 | 2,061,587 | 2,061,178 | 2,043,950 | |||
Total Deposits | 3,939,317 | 3,759,378 | 3,786,258 | 3,765,507 | 3,712,862 | |||
Short-Term Borrowings | 56,793 | 52,271 | 39,463 | 30,865 | 34,557 | |||
Subordinated Notes Payable | 52,887 | 52,887 | 52,887 | 52,887 | 52,887 | |||
Other Long-Term Borrowings | 513 | 562 | 612 | 806 | 884 | |||
Other Liabilities | 73,675 | 84,657 | 93,319 | 77,323 | 67,735 | |||
Total Liabilities | 4,123,185 | 3,949,755 | 3,972,539 | 3,927,388 | 3,868,925 | |||
Temporary Equity | 8,757 | 9,751 | 10,083 | 10,512 | 11,758 | $ 7,400 | ||
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;16,986,785 and 16,892,060 shares issued and outstanding at December 31, 2022 and 2021, respectively | 170 | 170 | 170 | 169 | 169 | |||
Additional Paid-In Capital | 37,331 | 36,234 | 35,738 | 35,188 | 34,423 | |||
Retained Earnings | 387,009 | 380,284 | 373,562 | 369,014 | 364,788 | |||
Accumulated Other Comprehensive Loss, Net of Tax | (37,229) | (48,203) | (40,765) | (33,743) | (16,214) | |||
Total Shareowners' Equity | 387,281 | 368,485 | 368,705 | 370,628 | 383,166 | $ 327,016 | ||
Total Liabilities, Temporary Equity, and Shareowners' Equity | $ 4,519,223 | $ 4,327,991 | $ 4,351,327 | $ 4,308,528 | $ 4,263,849 |
CONSOLIDATED STATEMENTS OF FI_2
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | |||||||
Amortized Cost | $ 455,232 | $ 461,646 | $ 643,679 | $ 655,927 | $ 660,732 | ||
Investment securities, held to maturity, fair value | $ 612,701 | $ 623,628 | $ 498,963 | $ 501,277 | $ 339,699 | ||
Preferred Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||
Preferred Stock, authorized | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | ||
Preferred Stock, issued | 0 | 0 | 0 | 0 | 0 | ||
Preferred Stock, outstanding | 0 | 0 | 0 | 0 | 0 | ||
Common Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||
Common Stock, authorized | 90,000,000 | 90,000,000 | 90,000,000 | 90,000,000 | 90,000,000 | ||
Common Stock, issued | 16,986,785 | 16,961,812 | 16,959,280 | 16,947,602 | 16,892,060 | ||
Common Stock, outstanding | 16,986,785 | 16,961,812 | 16,959,280 | 16,947,602 | 16,892,060 | 16,790,573 | 16,771,544 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
INTEREST INCOME | ||||||||
Loans, including Fees | $ 27,839 | $ 24,268 | $ 22,429 | $ 46,697 | $ 74,536 | $ 106,444 | $ 96,561 | $ 94,752 |
Investment Securities: | ||||||||
Taxable | 4,360 | 3,833 | 2,890 | 6,723 | 11,083 | 15,917 | 8,724 | 10,176 |
Tax Exempt | 12 | 7 | 6 | 13 | 25 | 38 | 68 | 98 |
Federal Funds Sold and Interest Bearing Deposits | 3,231 | 1,408 | 409 | 1,817 | 5,048 | 9,511 | 998 | 1,171 |
Total Interest Income | 35,442 | 29,516 | 25,734 | 55,250 | 90,692 | 131,910 | 106,351 | 106,197 |
INTEREST EXPENSE | ||||||||
Deposits | 1,052 | 266 | 224 | 490 | 1,542 | 3,444 | 839 | 1,548 |
Short-Term Borrowings | 536 | 343 | 192 | 535 | 1,071 | 1,761 | 1,360 | 1,690 |
Subordinated Notes Payable | 443 | 370 | 317 | 687 | 1,130 | 1,652 | 1,228 | 1,472 |
Other Long-Term Borrowings | 6 | 8 | 9 | 17 | 23 | 31 | 63 | 161 |
Total Interest Expense | 2,037 | 987 | 742 | 1,729 | 3,766 | 6,888 | 3,490 | 4,871 |
NET INTEREST INCOME | 33,405 | 28,529 | 24,992 | 53,521 | 86,926 | 125,022 | 102,861 | 101,326 |
Provision for Credit Losses | 2,154 | 1,692 | 32 | 1,724 | 3,878 | 7,494 | (1,553) | 9,645 |
Net Interest Income After Provision for Credit Losses | 31,251 | 26,837 | 24,960 | 51,797 | 83,048 | 117,528 | 104,414 | 91,681 |
NONINTEREST INCOME | ||||||||
Other | 1,870 | 1,823 | 1,733 | 3,556 | 5,426 | 7,691 | 7,271 | 5,942 |
Total Noninterest Income | 18,509 | 20,564 | 20,812 | 41,376 | 59,885 | 75,181 | 107,545 | 111,165 |
NONINTEREST EXPENSE | ||||||||
Compensation | 22,967 | 23,222 | 22,298 | 45,520 | 68,487 | 91,519 | 101,470 | 96,280 |
Occupancy, Net | 6,153 | 6,075 | 6,093 | 12,168 | 18,321 | 24,574 | 23,932 | 22,659 |
Other | 8,579 | 16,985 | 25,564 | 35,541 | 37,106 | 31,023 | ||
Total Noninterest Expense | 37,699 | 38,150 | 36,523 | 74,673 | 112,372 | 151,634 | 162,508 | 149,962 |
INCOME BEFORE INCOME TAXES | 12,061 | 9,251 | 9,249 | 18,500 | 30,561 | 41,075 | 49,451 | 52,884 |
Income Tax Benefit | 2,493 | 1,685 | 1,720 | 3,405 | 5,898 | 7,798 | 9,835 | 10,230 |
NET INCOME | 9,568 | 7,566 | 7,529 | 15,095 | 24,663 | 33,277 | 39,616 | 42,654 |
Loss (Income) Attributable to Noncontrolling Interests | (37) | 306 | 591 | 897 | 860 | 135 | (6,220) | (11,078) |
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 |
BASIC NET INCOME PER SHARE (in dollars per share) | $ 0.57 | $ 0.43 | $ 0.41 | $ 0.84 | $ 1.40 | $ 1.97 | $ 1.98 | $ 1.88 |
DILUTED NET INCOME PER SHARE (in dollars per share) | $ 0.57 | $ 0.43 | $ 0.41 | $ 0.84 | $ 1.40 | $ 1.97 | $ 1.98 | $ 1.88 |
Average Basic Common Shares Outstanding (in shares) | 16,960 | 16,949 | 16,931 | 16,940 | 16,947 | 16,951 | 16,863 | 16,785 |
Average Diluted Common Shares Outstanding (in shares) | 16,996 | 16,971 | 16,946 | 16,958 | 16,973 | 16,985 | 16,893 | 16,822 |
Deposit fees [Member] | ||||||||
NONINTEREST INCOME | ||||||||
Revenue, fees and commissions | $ 5,947 | $ 5,447 | $ 5,191 | $ 10,638 | $ 16,585 | $ 22,121 | $ 18,882 | $ 17,800 |
Bank card fees [Member] | ||||||||
NONINTEREST INCOME | ||||||||
Revenue, fees and commissions | 3,860 | 4,034 | 3,763 | 7,797 | 11,657 | 15,401 | 15,274 | 13,044 |
Wealth management fees [Member] | ||||||||
NONINTEREST INCOME | ||||||||
Revenue, fees and commissions | 3,937 | 4,403 | 6,070 | 10,473 | 14,410 | 18,059 | 13,693 | 11,035 |
Mortgage Banking Revenues [Member] | ||||||||
NONINTEREST INCOME | ||||||||
Revenue, fees and commissions | $ 2,895 | $ 4,857 | $ 4,055 | $ 8,912 | $ 11,807 | $ 11,909 | $ 52,425 | $ 63,344 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Abstract] | ||||||||
Net Income Attributable to Common Shareowners | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 |
Investment Securities: | ||||||||
Change in net unrealized (loss) gain on securities available for sale | (2,618) | (10,714) | (25,445) | (36,158) | (38,778) | (35,814) | (9,673) | 2,437 |
Unrealized losses on securities transferred from available for sale to held to maturity | (9,384) | 0 | 0 | (9,384) | (9,384) | 0 | 0 | |
Amortization of unrealized losses on securities transferred from available for sale to held to maturity | 586 | 0 | 0 | 586 | 1,469 | 26 | 36 | |
Change in net unrealized gain on effective cash flow derivative | 1,407 | 1,161 | 1,836 | 2,997 | 4,403 | 4,146 | 1,476 | 574 |
Benefit Plans: | ||||||||
Reclassification adjustment for amortization of prior service cost | 292 | 234 | (880) | |||||
Reclassification adjustment for amortization of net loss | 4,752 | 10,806 | 4,391 | |||||
Defined benefit plan settlement | 102 | 169 | 209 | 378 | 480 | 2,321 | 3,072 | 0 |
Current year actuarial gain (loss) | 4,223 | 31,339 | (27,924) | |||||
Total Benefit Plans | 102 | 169 | 209 | 378 | 480 | 11,588 | 45,451 | (24,413) |
Other comprehensive (loss) income, before tax: | (9,907) | (9,384) | (23,400) | (32,783) | (42,693) | (27,995) | 37,280 | (21,366) |
Deferred tax (expense) benefit related to other comprehensive income | 2,469 | 2,362 | 5,871 | 8,232 | 10,704 | 6,980 | (9,352) | 5,405 |
Other comprehensive (loss) income, net of tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | 27,928 | (15,961) |
TOTAL COMPREHENSIVE INCOME | $ 2,167 | $ 238 | $ (10,591) | $ (10,353) | $ (8,186) | $ 12,397 | $ 61,324 | $ 15,615 |
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, Net of Taxes [Member] | |
Balance beginning at Dec. 31, 2019 | $ 327,016 | $ 168 | $ 32,092 | $ 322,937 | $ (28,181) | |
Balance beginning (Impact Of Adoption Of ASC 326 [Member]) at Dec. 31, 2019 | $ (3,095) | 0 | 0 | (3,095) | 0 | |
Balance beginning (in shares) at Dec. 31, 2019 | 16,771,544 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income Attributable to Common Shareowners | $ 31,576 | 0 | 0 | 31,576 | 0 | |
Reclassification to Temporary Equity | (9,323) | 0 | 0 | (9,323) | 0 | |
Other Comprehensive (Income) Loss, Net of Tax | (15,961) | 0 | 0 | 0 | (15,961) | |
Cash Dividends | (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 | |||||
Repurchase of Common Stock | (2,042) | $ (1) | (2,041) | 0 | 0 | |
Repurchase of Common Stock (in shares) | (99,952,000) | |||||
Balance ending (Impact Of Adoption Of ASC 326 [Member]) at Dec. 31, 2020 | $ 320,837 | $ 168 | 32,283 | 332,528 | (44,142) | |
Balance ending (in shares) at Dec. 31, 2020 | 16,790,573 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income Attributable to Common Shareowners | $ 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 | (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 | ||||
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 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income Attributable to Common Shareowners | $ 6,938 | 6,938 | ||||
Other Comprehensive (Income) Loss, Net of Tax | (17,529) | (17,529) | ||||
Cash Dividends | (2,712) | (2,712) | ||||
Stock Based Compensation | 245 | 245 | ||||
Stock Compensation Plan Transactions, net | $ 520 | 520 | ||||
Stock Compensation Plan Transactions, net (in shares) | 55,542 | |||||
Balance ending at Mar. 31, 2022 | $ 370,628 | $ 169 | 35,188 | 369,014 | (33,743) | |
Balance ending (in shares) at Mar. 31, 2022 | 16,947,602 | |||||
Balance beginning at Dec. 31, 2021 | $ 383,166 | $ 169 | 34,423 | 364,788 | (16,214) | |
Balance beginning (in shares) at Dec. 31, 2021 | 16,892,060 | 16,892,060 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income Attributable to Common Shareowners | $ 14,198 | 14,198 | ||||
Other Comprehensive (Income) Loss, Net of Tax | (24,551) | (24,551) | ||||
Cash Dividends | (5,424) | (5,424) | ||||
Stock Based Compensation | 489 | 489 | ||||
Stock Compensation Plan Transactions, net | $ 827 | $ 1 | 826 | |||
Stock Compensation Plan Transactions, net (in shares) | 67,220 | |||||
Balance ending at Jun. 30, 2022 | $ 368,705 | 170 | 35,738 | 373,562 | (40,765) | |
Balance ending (in shares) at Jun. 30, 2022 | 16,959,280 | |||||
Balance beginning at Dec. 31, 2021 | $ 383,166 | $ 169 | 34,423 | 364,788 | (16,214) | |
Balance beginning (in shares) at Dec. 31, 2021 | 16,892,060 | 16,892,060 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income Attributable to Common Shareowners | $ 23,803 | 23,803 | ||||
Other Comprehensive (Income) Loss, Net of Tax | (31,989) | (31,989) | ||||
Cash Dividends | (8,307) | (8,307) | ||||
Stock Based Compensation | 904 | 904 | ||||
Stock Compensation Plan Transactions, net | $ 908 | $ 1 | 907 | |||
Stock Compensation Plan Transactions, net (in shares) | 69,752 | |||||
Balance ending at Sep. 30, 2022 | $ 368,485 | 170 | 36,234 | 380,284 | (48,203) | |
Balance ending (in shares) at Sep. 30, 2022 | 16,961,812 | |||||
Balance beginning at Dec. 31, 2021 | $ 383,166 | $ 169 | 34,423 | 364,788 | (16,214) | |
Balance beginning (in shares) at Dec. 31, 2021 | 16,892,060 | 16,892,060 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income Attributable to Common Shareowners | $ 33,412 | $ 0 | 0 | 33,412 | 0 | |
Other Comprehensive (Income) Loss, Net of Tax | (21,015) | 0 | 0 | 0 | (21,015) | |
Cash Dividends | (11,191) | 0 | 0 | (11,191) | 0 | |
Stock Based Compensation | 1,630 | 0 | 1,630 | 0 | 0 | |
Stock Compensation Plan Transactions, net | $ 1,279 | $ 1 | 1,278 | 0 | 0 | |
Stock Compensation Plan Transactions, net (in shares) | 94,725 | 94,725 | ||||
Balance ending at Dec. 31, 2022 | $ 387,281 | $ 170 | 37,331 | 387,009 | (37,229) | |
Balance ending (in shares) at Dec. 31, 2022 | 16,986,785 | 16,986,785 | ||||
Balance beginning at Mar. 31, 2022 | $ 370,628 | $ 169 | 35,188 | 369,014 | (33,743) | |
Balance beginning (in shares) at Mar. 31, 2022 | 16,947,602 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income Attributable to Common Shareowners | $ 7,260 | 7,260 | ||||
Other Comprehensive (Income) Loss, Net of Tax | (7,022) | (7,022) | ||||
Cash Dividends | (2,712) | (2,712) | ||||
Stock Based Compensation | 244 | 244 | ||||
Stock Compensation Plan Transactions, net | $ 307 | 1 | 306 | |||
Stock Compensation Plan Transactions, net (in shares) | 11,678 | |||||
Balance ending at Jun. 30, 2022 | $ 368,705 | 170 | 35,738 | 373,562 | (40,765) | |
Balance ending (in shares) at Jun. 30, 2022 | 16,959,280 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income Attributable to Common Shareowners | $ 9,605 | 9,605 | ||||
Other Comprehensive (Income) Loss, Net of Tax | (7,438) | (7,438) | ||||
Cash Dividends | (2,883) | (2,883) | ||||
Stock Based Compensation | 415 | 415 | ||||
Stock Compensation Plan Transactions, net | $ 81 | 81 | ||||
Stock Compensation Plan Transactions, net (in shares) | 2,532 | |||||
Balance ending at Sep. 30, 2022 | $ 368,485 | $ 170 | $ 36,234 | $ 380,284 | $ (48,203) | |
Balance ending (in shares) at Sep. 30, 2022 | 16,961,812 | |||||
[1] (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 | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of Stockholders' Equity [Abstract] | ||||||||
Cash Dividends (in dollars per share) | $ 0.16 | $ 0.16 | $ 0.16 | $ 0.32 | $ 0.49 | $ 0.66 | $ 0.62 | $ 0.57 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
Net Income Attributable to Common Shareowners | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 |
Adjustments to Reconcile Net Income to Cash From Operating Activities: | ||||||
Provision for Credit Losses | 32 | 1,724 | 3,878 | 7,494 | (1,553) | 9,645 |
Depreciation | 1,907 | 3,802 | 5,689 | 7,596 | 7,607 | 7,230 |
Amortization of Premiums, Discounts, and Fees, net | 2,610 | 5,053 | 6,618 | 7,772 | 14,072 | 7,533 |
Amortization of Intangible Assets | 40 | 80 | 120 | 160 | 107 | 0 |
Pension Settlement Charges | 209 | 378 | 480 | 2,321 | 3,072 | 0 |
Originations of Loans Held for Sale | (242,253) | (549,018) | (772,089) | (996,312) | (1,541,356) | (606,337) |
Proceeds From Sales of Loans Held-for-Sale | 252,584 | 585,476 | 813,267 | 1,033,844 | 1,655,288 | 565,151 |
Mortgage Banking Revenues | (11,909) | (52,425) | (63,344) | |||
Net Decrease for Capitalized Mortgage Servicing Rights | 364 | 360 | 570 | 726 | 72 | (2,792) |
Change in Valuation Provision for Mortgage Servicing Rights | 0 | (250) | 250 | |||
Stock Compensation | 245 | 489 | 904 | 1,630 | 843 | 892 |
Net Tax Benefit from Stock Compensation | (19) | (19) | (19) | (27) | (4) | (84) |
Deferred Income Taxes | (6,682) | (9,887) | (12,854) | (3,870) | (4,157) | (53) |
Net Change in Operating Leases | (27) | (72) | (83) | (108) | (165) | (156) |
Net Gain (Loss) on Sales and Write-Downs of Other Real Estate Owned | 0 | (26) | (136) | (422) | (1,662) | (393) |
Net (Increase) Decrease in Other Assets | 1,897 | 3,516 | 3,696 | (8,636) | 10,885 | (38,353) |
Net Increase (Decrease) in Other Liabilities | 7,036 | 22,040 | 12,839 | 8,837 | (7,846) | 40,624 |
Net Cash Provided By (Used In) Operating Activities | 20,826 | 69,182 | 74,876 | 82,508 | 115,924 | (48,611) |
Securities Held to Maturity: | ||||||
Purchases | (194,448) | (218,548) | (219,865) | (219,865) | (251,525) | (32,250) |
Payments, Maturities, and Calls | 14,441 | 28,111 | 40,096 | 55,314 | 78,544 | 99,251 |
Securities Available for Sale: | ||||||
Purchases | (25,139) | (37,044) | (41,880) | (52,238) | (523,961) | (108,728) |
Proceeds from the Sale of Securities | 3,365 | 3,365 | 3,365 | 3,365 | 495 | 0 |
Payments, Maturities, and Calls | 24,824 | 47,413 | 64,301 | 81,596 | 178,425 | 186,499 |
Purchases of Loans Held for Investment | (26,713) | (174,779) | (329,481) | (438,415) | (114,913) | (43,804) |
Net (Increase) Decrease in Loans | (31,260) | (130,913) | (113,116) | (184,349) | 183,249 | (130,020) |
Net Cash Paid for Acquisition | 0 | (4,482) | (2,405) | |||
Proceeds From Sales of Other Real Estate Owned | 0 | 30 | 1,683 | 2,406 | 4,502 | 2,835 |
Purchases of Premises and Equipment, net | (1,013) | (3,322) | (4,013) | (6,322) | (5,193) | (9,738) |
Noncontrolling Interest Contributions | 1,838 | 2,573 | 2,867 | 2,867 | 7,139 | 5,766 |
Net Cash Used In Investing Activities | (234,105) | (483,114) | (596,043) | (755,641) | (447,720) | (32,594) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||
Net Increase in Deposits | 52,645 | 73,396 | 46,516 | 226,455 | 495,302 | 572,106 |
Net Increase (Decrease) in Short-Term Borrowings | (3,692) | 4,784 | 17,592 | 22,114 | (45,938) | 73,156 |
Repayment of Long-Term Borrowings | (78) | (150) | (200) | (249) | (1,332) | (3,363) |
Dividends Paid | (2,712) | (5,424) | (8,307) | (11,191) | (10,459) | (9,567) |
Payments to Repurchase Common Stock | 0 | 0 | (2,042) | |||
Issuance of Common Stock Under Compensation Plans | (190) | (496) | (577) | 1,300 | 1,028 | 1,041 |
Net Cash Provided By Financing Activities | 46,353 | 73,102 | 56,178 | 238,429 | 438,601 | 631,331 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (166,926) | (340,830) | (464,989) | (434,704) | 106,805 | 550,126 |
Cash at Beginning of Year | 1,035,354 | 1,035,354 | 1,035,354 | 1,035,354 | 928,549 | 378,423 |
Cash at End of Year | 868,428 | 694,524 | 570,365 | 600,650 | 1,035,354 | 928,549 |
Supplemental Cash Flow Disclosures: | ||||||
Interest Paid | 715 | 1,617 | 3,588 | 6,586 | 3,547 | 4,841 |
Income Taxes Paid | 20 | 3,765 | 6,410 | 7,466 | 16,339 | 9,171 |
Noncash Investing and Financing Activities: | ||||||
Loans and Premises Transferred to Other Real Estate Owned | $ 0 | $ 77 | $ 1,543 | $ 2,398 | $ 1,717 | $ 2,297 |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2022 | |
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 wholly-owned subsidiary, “Company”), with banking offices located in Florida, financial institutions, is subject to regulation by certain government regulatory authorities. Basis of Presentation The consolidated financial statements include the accounts of CCBG Capital City Strategic Wealth, Company and Capital City Investments. CCB also maintains a 51 % membership interest in a consolidated subsidiary, Home Loans, LLC (“CCHL”). The Company, which operates 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, CCSW acquired Group, LLC and certain related businesses (“SWG”), including advisory, assignment of all related revenues thereof. Under the terms of the purchase agreement, and will continue the operation of their five offices in South Georgia risk management and asset protection services for individuals and businesses. CCBG paid $ 4.5 recorded goodwill of $ 2.8 1.6 On March 1, 2020, CCB completed its acquisition of a 51 % membership interest in Brand Mortgage Group, LLC (“Brand”), which is now operated as CCHL. acquired totaled $ 52 42 primarily of warehouse line borrowings). access to an expanded residential mortgage product line-up and investor sales), to hedge our net interest income business and to generate other operational 7.1 million cash payment for its 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 with this acquisition. team and expertise in the mortgage industry, strategic alliance. Recently Adopted Accounting Pronouncements Since 2019, the Company has adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic Losses on Financial Instruments, ASU 2019-12 “ Income Taxes (Topic 2020-01 “ Investments – Equity Securities (Topic ASU 2020-04 “ Reference Rate Reform (Topic ASU 2020-08 “ Codification Improvements to Subtopic 310-20, Nonrefundable Fees and Other Costs”, and ASU 2020-09 “ Debt (Topic Release No. 33-10762” . Restatement of Previously Issued Consolidated Financial We have restated restated interim financial statement periods for the each of the quarters 2022 and restated the impacted balances within the accompanying Restatement Background As part of the normal course of business, CCHL sold residential mortgage revenue and a mortgage servicing right on the aforementioned loans. for servicing these loans on behalf of CCB, which required elimination entries were not made, resulting in misstatements. As a result of this misstatement, assets are overstated 6.7 31, 2022 and net income is overstated by $ 6.7 0.15 % of previously reported total assets as of December 31, 2022 and 16.78 % of previously reported net income for the year ended December 31, 2022. As a result, diluted EPS decreased from $ 2.36 1.97 Description of Misstatements Misstatements Associated with Mortgage Loan Sale Transactions a) CCHL originated certain mortgage loans that were sold to the Bank for corresponding loan purchase premium recorded by the Bank should the Company did not defer net loan origination costs on these loans. The on sale of loan misstatements on each period are presented in this note and Note 24, Quarterly Financial Data (Unaudited) . b) Mortgage Servicing Right (“MSR”) Asset CCHL recorded an MSR asset and recognized a corresponding gain related serviced for the Bank. As the MSR asset is recorded at amortized cost, CCHL also recorded each period in other non-interest expense. The MSR asset, gain, and amortization in consolidation. The impacts of the MSR asset misstatements on each period Quarterly Financial Data (Unaudited) . c) Mortgage Servicing The Bank recorded servicing fee expense and CCHL recorded servicing eliminated in consolidation. The impacts of the mortgage servicing misstatements note and Note 24, Quarterly Financial Data (Unaudited) . d) Statement of Financial Condition Misclassification CCHL classifies all mortgage production as loans held for sale. The portion sold to the Bank should have been designated as loans held for investment This reclassification includes the reversal of the related mark-to-market Allowance for Credit Losses (“ACL”) on these loans. While previously the mark-to-market reversed and the ACL established at the time the loans were sold to the Bank, appropriate periods. The impacts of the restatement on each period Quarterly Financial Data (Unaudited) . Other Immaterial Adjustments As part of the restatement, we made corrections to the Consolidated determined to be immaterial, both individually and in the aggregate (the “Other Adjustments”). The Other Adjustments included corrections and reclassifications on December 31, 2022 that had no impact on shareowners’ equity. the misstatements associated with mortgage loan sale transactions noted Statement of Financial Condition to record net deferred fees and costs that 3.4 which represent the amount that should have been recorded in prior periods. Additionally, market and ACL adjustments that were related to the “Statement of resulted in less than a $ 156 156 The combined impacts of the correction of the misstatement associated with the Adjustments are reflected in the “restatement impacts” column of Quarterly Financial Data (Unaudited) . Description of Restatement Tables The following tables present the amounts previously reported and a reconciliation restated Consolidated Statement of Financial Condition as of December the restated Consolidated Statement of Comprehensive Income, ’ Equity and the restated Consolidated Statement of Cash Flows for the year ended reported for the year ended December 31, 2022 were derived from our Annual 31, 2022, originally filed March 1, 2023. CAPITAL CITY BANK CONSOLIDATED STATEMENT As of December 31, 2022 (Dollars in Thousands, except per share data) As Previously Reported Restatement Impact As Restated ASSETS: Cash and Due From Banks $ 72,114 $ - $ 72,114 Federal Funds Sold and Interest Bearing Deposits 528,536 - 528,536 Total Cash and Cash Equivalents 600,650 - 600,650 Investment Securities, Available $ 455,232 ) 413,294 - 413,294 Investment Securities Held to Maturity (fair value of $ 612,701 ) 660,744 - 660,744 Other Equity Securities 10 - 10 1,074,048 - 1,074,048 Loans Held For Sale 54,635 (27,726) 26,909 Loans, Net of Unearned Income 2,525,180 22,505 2,547,685 Allowance for Loan Losses (24,736) (332) (25,068) Loans, Net 2,500,444 22,173 2,522,617 Premises and Equipment, Net 82,138 - 82,138 Goodwill 93,093 - 93,093 Other Real Estate Owned 431 - 431 Other Assets 120,519 (1,182) 119,337 Total Assets $ 4,525,958 $ (6,735) $ 4,519,223 LIABILITIES Deposits: Noninterest Bearing Deposits $ 1,653,620 $ - $ 1,653,620 Interest Bearing Deposits 2,285,697 - 2,285,697 Total Deposits 3,939,317 - 3,939,317 Short-Term 56,793 - 56,793 Subordinated Notes Payable 52,887 - 52,887 Other Long-Term 513 - 513 Other Liabilities 73,675 - 73,675 Total Liabilities 4,123,185 - 4,123,185 Temporary Equity 8,757 - 8,757 SHAREOWNERS' EQUITY Preferred Stock, $ .01 3,000,000 no outstanding - - - Common Stock, $ .01 90,000,000 16,986,785 issued and outstanding at December 31, 2022 170 - 170 Additional Paid-In Capital 37,331 - 37,331 Retained Earnings 393,744 (6,735) 387,009 Accumulated Other Comprehensive Loss, Net of Tax (37,229) - (37,229) Total Shareowners' Equity 394,016 (6,735) 387,281 $ 4,525,958 $ (6,735) $ 4,519,223 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Year (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 105,882 $ 562 $ 106,444 Investment Securities: Taxable Securities 15,917 - 15,917 Tax Exempt Securities 38 - 38 Funds Sold 9,511 - 9,511 Total Interest Income 131,348 562 131,910 INTEREST EXPENSE Deposits 3,444 - 3,444 Short-Term 1,761 - 1,761 Subordinated Notes Payable 1,652 - 1,652 Other Long-Term 31 - 31 Total Interest Expense 6,888 - 6,888 Net Interest Income 124,460 562 125,022 Provision for Loan Losses 7,162 332 7,494 Net Interest Income After Provision For Loan Losses 117,298 230 117,528 NONINTEREST INCOME Deposit Fees 22,121 - 22,121 Bank Card Fees 15,401 - 15,401 Wealth Management 18,059 - 18,059 Mortgage Banking Fees 30,624 (18,715) 11,909 Other 8,422 (731) 7,691 Total Noninterest 94,627 (19,446) 75,181 NONINTEREST EXPENSE Compensation 100,542 (9,023) 91,519 Occupancy, Net 24,574 - 24,574 Other 36,712 (1,171) 35,541 Total Noninterest 161,828 (10,194) 151,634 INCOME BEFORE INCOME TAXES 50,097 (9,022) 41,075 Income Tax Expense 10,085 (2,287) 7,798 NET INCOME 40,012 (6,735) 33,277 Pre-Tax Income 135 - 135 NET INCOME ATTRIBUTABLE $ 40,147 $ (6,735) $ 33,412 BASIC NET INCOME PER SHARE $ 2.37 $ (0.40) $ 1.97 DILUTED NET INCOME PER SHARE $ 2.36 $ (0.39) $ 1.97 AVERAGE Basic 16,951 - 16,951 Diluted 16,985 - 16,985 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Year (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 40,147 $ (6,735) $ 33,412 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (35,814) - (35,814) Unrealized losses on securities transferred from available for sale to held maturity (9,384) - (9,384) Amortization of unrealized losses on securities transferred from available held to maturity 1,469 - 1,469 Total Investment (43,729) - (43,729) Derivative: Change in net unrealized gain on effective cash flow 4,146 - 4,146 Benefit Plans: Reclassification adjustment for amortization of prior service cost 292 - 292 Reclassification adjustment for amortization of net loss 4,752 - 4,752 Defined benefit plan settlement 2,321 - 2,321 Current year actuarial loss 4,223 - 4,223 11,588 - 11,588 Other comprehensive income (loss), before (27,995) - (27,995) Deferred tax expense (benefit) related to other comprehensive income 6,980 - 6,980 Other comprehensive income (loss), net of tax (21,015) - (21,015) TOTAL COMPREHENSIVE $ 19,132 $ (6,735) $ 12,397 CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, January 1, 2022, as previously reported 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income - - - 40,147 - 40,147 Other Comprehensive Loss, Net of Tax - - - - (21,015) (21,015) Cash Dividends ($ 0.66 - - - (11,191) - (11,191) - - 1,630 - - 1,630 94,725 1 1,278 - - 1,279 Balance, December 31, 2022, as previously reported 16,986,785 170 37,331 393,744 (37,229) 394,016 Restatement Impacts Net Income - - - (6,735) - (6,735) Balance, December 31, 2022 - - - (6,735) - (6,735) As Restated Balance, January 1, 2022, as restated 16,892,060 169 34,423 364,788 (16,214) 383,166 Net Income - - - 33,412 - 33,412 Other Comprehensive Loss, Net of Tax - - - - (21,015) (21,015) Cash Dividends ($ 0.66 - - - (11,191) - (11,191) - - 1,630 - - 1,630 94,725 1 1,278 - - 1,279 Balance, December 31, 2022, as restated 16,986,785 $ 170 $ 37,331 $ 387,009 $ (37,229) $ 387,281 CAPITAL CITY BANK CONSOLIDATED STATEMENT For the Year (Dollars in Thousands) As Previously Reported Restatement Impact As Restated CASH FLOWS FROM OPERATING Net Income Attributable to Common Shareowners $ 40,147 $ (6,735) $ 33,412 Adjustments to Reconcile Net Income to 7,162 332 7,494 7,596 - 7,596 8,333 (561) 7,772 160 - 160 2,321 - 2,321 (1,024,526) 28,214 (996,312) 1,053,047 (19,203) 1,033,844 (30,624) 18,715 (11,909) (2,742) 3,468 726 1,630 - 1,630 (27) - (27) (1,583) (2,287) (3,870) (108) - (108) (422) - (422) (8,636) - (8,636) 8,837 - 8,837 Net Cash Provided (Used In) By Operating Activities 60,565 21,943 82,508 CASH FLOWS FROM INVESTING ACTIVITIES Securities Held to Maturity: (219,865) - (219,865) 55,314 - 55,314 Securities Available for (52,238) - (52,238) 3,365 - 3,365 81,596 - 81,596 Purchase of loans held for investment (438,415) - (438,415) Net Increase in Loans Held for Investment (162,406) (21,943) (184,349) Proceeds From Sales of Other Real Estate Owned 2,406 - 2,406 Purchases of Premises and Equipment (6,322) - (6,322) Noncontrolling interest contributions received 2,867 - 2,867 Net Cash Used In Investing Activities (733,698) (21,943) (755,641) CASH FLOWS FROM FINANCING ACTIVITIES Net Increase in Deposits 226,455 - 226,455 Net (Decrease) Increase 22,114 - 22,114 Repayment of Other Long-Term (249) - (249) Dividends Paid (11,191) - (11,191) Issuance of Common Stock Under Compensation Plans 1,300 - 1,300 Net Cash Provided By Financing Activities 238,429 - 238,429 NET DECREASE IN CASH AND CASH EQUIVALENTS (434,704) - (434,704) Cash and Cash Equivalents at Beginning of Period 1,035,354 - 1,035,354 Cash and Cash Equivalents at End of Period $ 600,650 $ - $ 600,650 Supplemental Cash Flow Disclosures: $ 6,586 $ - $ 6,586 $ 7,466 $ - $ 7,466 Noncash Investing and Financing Activities: $ 2,398 $ - $ 2,398 The accompanying Notes to Consolidated Financial Statements are 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 warehouse agreements. 0.5 Investment Securities Investment securities are classified as held-to-maturity (“HTM”) and intent and ability to hold them until maturity. for-sale (“AFS”) and carried at fair value. classified as equity securities that do not have readily determinable fair when impaired or upon observable transaction prices. time of purchase. security which correlates to its risk profile: U.S. government treasury, mortgage-backed securities, the Federal Reserve Bank and the Federal Home Loan Bank, are classified as available 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 for credit 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 90 days 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 credit loss through 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 credit management considers the extent to which fair value is less than amortized rating agency, and adverse credit loss exists, the present value of cash flows to be collected from the security are compared security. an allowance for credit losses is recorded through a provision for than the amortized cost basis. Allowance for Credit Losses - Held-to-Maturity Securities. Management measures expected credit losses on each individual held-to-maturity debt security a zero assumption. value, or the difference between the discounted value of 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 the 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 a contractual maturity accrual of interest is generally suspended on loans more than 90 days past due placed on nonaccrual status, all previously accrued and uncollected interest 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 investor 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 Uniform classification and treatment of consumer loans, which generally require The Company has adopted comprehensive lending policies, underwriting 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 Risk Oversight estimating the allowance for credit losses. Allowance for Credit Losses The allowance for credit losses is a valuation account that is deducted from the 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 balance aggregate of amounts previously charged-off off-balance sheet credit exposures is provided for through the credit Management estimates the allowance balance using relevant available past events, current conditions, and reasonable and supportable forecasts. basis for the estimation of expected credit losses. current conditions and forecasts. The methodology for estimating the amount of credit losses reported in the first, an asset-specific component involving loans that do not share risk characteristics losses for such individual loans; and second, a pooled component for expected 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 analyzed to dependent when the borrower is experiencing financial difficulty sale of the underlying collateral. measured based on the difference between the fair asset. by Financial Accounting Standards Board (“FASB”) expected credit loss under the same approach as those loans where foreclosure $250,000, balances less than $250,000, the Company has made a policy election to measure expected loss rates for similar loan types. restructurings. Loans That Share Similar Risk Characteristics (Pooled The general steps in determining expected credit losses for the pooled loan component ● 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 methodology is utilized to calculate expected discounted present value of expected cash flow is then compared to 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 of forecasted 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 forecast adjustment over the reversion period. Loss rates are further adjusted to account for other risk factors that impact loan defaults 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/political 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 same outstanding loan balances by segment. the allowance for credit losses with similar risk characteristics that have been previously 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 to investors is calculated using observable market information such mandatory delivery commitment prices. The Company bases loans committed (“FNMA”), Government National Mortgage Association (“GNMA”), and (“FHLMC”) (“Agency”) investors based on the Agency’s mortgage loans held for sale not committed to investors is based on quoted best execution quoted price exists, the fair value is determined using quoted prices for the specific attributes of that loan, which would be used by other market Gains and losses from the sale of mortgage loans held for sale are recognized based upon 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 with servicing retained, the on the Consolidated Statements of Income. with the changes in the fair value of mortgage loans held for sale, and the realized and 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 that 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 individual delinquent mortgage loans that meet certain criteria from servicing. for an amount equal to 100 percent of the remaining principal balance of Servicing,” this buy-back option is considered a conditional option until becomes unconditional. unconditional buy-back option, the loans can no longer be reported Statement of Financial Condition, regardless of whether there is intent to exercise in other assets with the offsetting liability being reported Derivative Instruments (IRLC/Forward Commitments) The Company holds and issues derivative financial instruments such as interest rate forward sale commitments. IRLCs are subject to price risk primarily related interest rate risk on certain IRLCs, the Company uses forward sale commitments, mandatory delivery commitments with investors. Management expects fair value opposite to the changes in fair value of the IRLCs thereby reducing also used to hedge the interest rate risk on mortgage loans held for sale that are not price risk. If the mandatory delivery commitments are not fulfilled, the Company 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. recognized in mortgage banking revenues on the Consolidated Statements losses resulting from the pairing-out of forward sale commitments are recognized 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 may 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 method. (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 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 three 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 and is reclassified during which the hedged transaction affects earnings. For not highly effective in hedging the changes in fair value or expected current earnings. Net cash settlements on derivatives that qualify for hedge 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 the Condition or to specific firm commitments or forecasted transactions. The Company inception and on an ongoing basis, whether the derivative instruments that are used fair values or cash flows of the hedged items. The Company discontinues hedge is no longer effective in offsetting changes in the terminates, a hedged forecasted transaction is no longer probable, a hedged derivative as a hedge is no longer appropriate or intended. When hedge accounting value of the derivative are recorded as non-interest income. When a fair is no longer adjusted for changes in fair value and the existing basis adjustment is amortized the asset or liability. When expected to occur, gains or losses that were accumulated same periods, in which 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 their 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. measured at (i) the initial measurement of the lease liability; (ii) any lease payments made commencement date less any lease incentives received; and (iii) any initial direct initial term of 12 months or less are not recorded on the Consolidated Statement leases, lease expense is recognized on a straight-line basis over the lease term. leases. Bank Owned Life Insurance The Company, through insurance is recorded at the amount that can be realized under the insurance contract 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 estimated. Contingencies for additional information. Noncontrolling Interest To the extent recognizes noncontrolling interests in subsidiaries. Combination), the noncontrolling interest repre |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022 U.S. Government Treasury $ 23,977 $ 1 $ 1,928 $ - $ 22,050 U.S. Government Agency 198,888 27 12,863 - 186,052 States and Political Subdivisions 47,197 - 6,855 (13) 40,329 Mortgage-Backed Securities (1) 80,829 2 11,426 - 69,405 Corporate Debt Securities 97,119 19 8,874 (28) 88,236 Other Securities (2) 7,222 - - - 7,222 Total $ 455,232 $ 49 $ 41,946 $ (41) $ 413,294 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 (1) 89,440 27 598 - 88,869 Corporate Debt Securities 87,537 10 1,304 (21) 86,222 Other Securities (2) 7,094 - - - 7,094 Total $ 660,732 $ 1,375 $ 7,460 $ (36) $ 654,611 Held to Maturity Amortized Unrealized Unrealized Fair (Dollars in Thousands) Cost Gains Losses Value December 31, 2022 U.S. Government Treasury $ 457,374 $ - $ 25,641 $ 431,733 Mortgage-Backed Securities 203,370 8 22,410 180,968 Total $ 660,744 $ 8 $ 48,051 $ 612,701 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 (1) Comprised of residential mortgage-backed (2) Includes Federal Home Loan Bank and Federal Reserve Bank recorded 2.1 5.1 2.0 5.1 At December 31, 2022, and 2021, the investment portfolio had $ 0.01 0.9 These securities do not have a readily determinable fair value and were not Securities with an amortized cost of $ 656.1 463.8 pledged to secure public deposits and for other purposes. At December 31, 2022 and 2021, there were no 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 Bank is required to maintain stock in the Federal Reserve Bank of Atlanta based Federal Reserve Bank stock is carried at cost. During the third quarter of 2022, the Company transferred certain securities from made at fair value on the date of the transfer. 33 168.4 $ 159.0 in accumulated other comprehensive loss in the accompanying Consolidated 2022 totaled $ 7.9 the underlying securities as an adjustment of the yield on those securities. Investment Sales . There were no significant sales of investment securities for each of the Maturity Distribution . based on contractual maturity at December 31, 2022. 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 $ 47,408 $ 44,255 $ - $ - Due after one through five years 153,009 140,296 457,374 431,733 Due after five through ten years 51,785 42,566 - - Mortgage-Backed Securities 80,829 69,405 203,370 180,968 U.S. Government Agency 114,979 109,550 - - Other Securities 7,222 7,222 - - Total $ 455,232 $ 413,294 $ 660,744 $ 612,701 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, 2022 Available for U.S. Government Treasury $ 983 $ - $ 19,189 $ 1,928 $ 20,172 $ 1,928 U.S. Government Agency 63,112 2,572 113,004 10,291 176,116 12,863 States and Political Subdivisions 1,425 2 38,760 6,853 40,185 6,855 Mortgage-Backed Securities 6,594 959 60,458 10,467 67,052 11,426 Corporate Debt Securities 26,959 878 58,601 7,996 85,560 8,874 Total 99,073 4,411 290,012 37,535 389,085 41,946 Held to Maturity U.S. Government Treasury 177,552 11,018 254,181 14,623 431,733 25,641 Mortgage-Backed Securities 88,723 6,814 91,462 15,596 180,185 22,410 Total $ 266,275 $ 17,832 $ 345,643 $ 30,219 $ 611,918 $ 48,051 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 Equity 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 At December 31, 2022, there were 928 90.0 million. 401 $ 10.2 87 Government. 714 sponsored entities. no nonpayment of the amortized cost basis is zero . 127 credit component. Administration securities (“SBA”), U.S. Agency, corporate debt securities had an allowance for credit losses of $ 28,000 13,000 . No ne of the securities held by the Company were past due or in nonaccrual status at December Credit Quality Indicators 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 expectation zero, even if the U.S. government were to technically default. been pre-refunded and secured by government guaranteed treasuries. does not assess or record expected credit losses due to the zero loss assumption. municipal and corporate securities portfolio via credit ratings which 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, 2022 | |
Loans, net [Abstract] | |
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES | Note 3 LOANS HELD FOR INVESTMENT AND ALLOWANCE Loan Portfolio Composition . (As Restated) (Dollars in Thousands) 2022 2021 Commercial, Financial and Agricultural $ 247,362 $ 223,086 Real Estate – Construction 234,519 174,394 Real Estate – Commercial Mortgage 782,557 663,550 Real Estate – Residential (1) 749,513 360,021 Real Estate – Home Equity 208,217 187,821 Consumer (2) 325,517 322,593 Loans Held for Investment, Net of Unearned Income $ 2,547,685 $ 1,931,465 (1) Includes loans in process with outstanding balances 6.1 13.6 (2) 1.1 1.1 Net deferred costs, which include premiums on purchased loans, included 5.1 $ 3.9 Accrued interest receivable on loans which is excluded from amortized 8.0 5.3 million at December 31, 2021, 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 and consumer loans, commercial loans, and construction loans to support available Atlanta. Loan Purchases and Sales . from CCHL, a related party effective on March 1, 2020 (see Note 1 totaled $ 421.7 97.5 impaired. totaling $ 15.0 17.4 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; and 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 preclude categories. Commercial, Real Estate Financial, Real Estate Commercial Real Estate Real Estate (Dollars in Thousands) Agricultural Construction Mortgage Residential Home Equity Consumer Total 2022 (As Restated) Beginning Balance $ 2,191 $ 3,302 $ 5,810 $ 4,129 $ 2,296 $ 3,878 $ 21,606 Restated) 316 (658) (746) 6,328 (422) 2,579 7,397 (1,308) - (355) - (193) (6,050) (7,906) 307 10 106 284 183 3,081 3,971 (1,001) 10 (249) 284 (10) (2,969) (3,935) Ending Balance (As Restated) $ 1,506 $ 2,654 $ 4,815 $ 10,741 $ 1,864 $ 3,488 $ 25,068 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 The $ 3.5 growth, a higher projected rate of unemployment and its effect on interest rates). 2.8 economic conditions, favorable loan migration and net recoveries totaling $ 0.6 needed for loan growth (excluding Small Business Administration Paycheck forecast scenarios continue to be utilized to estimate probability of default and probability. 21 – Commitments and Contingencies for information on the provision 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 2022 (As Restated) Commercial, Financial and Agricultural $ 109 $ 126 $ - $ 235 $ 247,086 $ 41 $ 247,362 Real Estate – Construction 359 - - 359 234,143 17 234,519 Real Estate – Commercial Mortgage 158 149 - 307 781,605 645 782,557 Real Estate – Residential (1) 845 530 - 1,375 747,899 239 749,513 Real Estate – Home Equity - 35 - 35 207,411 771 208,217 Consumer 3,666 1,852 - 5,518 319,415 584 325,517 Total $ 5,137 $ 2,692 $ - $ 7,829 $ 2,537,559 $ 2,297 $ 2,547,685 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 Nonaccrual Loans . and/or management deems the collectability of the principal and/or when the principal and interest amounts contractually due are brought current or The Company did not recognize a significant amount of interest income on nonaccrual 2022 and 2021. The following table presents the amortized cost basis of loans in nonaccrual status and accrual by class of loans. 2022 2021 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 $ - $ 41 $ - $ 67 $ 23 $ - Real Estate – Construction - 17 - - - - Real Estate – Commercial Mortgage 389 256 - - 604 - Real Estate – Residential - 239 - 928 1,169 - Real Estate – Home Equity - 771 - 463 856 - Consumer - 584 - - 212 - Total $ 389 $ 1,908 $ - $ 1,458 $ 2,864 $ - Collateral Dependent Loans . 2022 2021 Real Estate Non Real Estate Real Estate Non Real Estate (Dollars in Thousands) Secured Secured Secured Secured Commercial, Financial and Agricultural $ - $ - $ - $ 67 Real Estate – Construction - - - - Real Estate – Commercial Mortgage 389 - 455 - Real Estate – Residential 160 - 1,645 - Real Estate – Home Equity 130 - 649 - Consumer 21 - - - Total $ 700 $ - $ 2,749 $ 67 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 other expected net sales proceeds. Residential Real Estate Loans In Process of Foreclosure . 0.6 $ 0.9 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 loan is deemed classification can be removed if the borrower’s financial difficulty, market terms and qualifies as a new loan. At December 31, 2022, the Company had $ 6.1 5.9 modified terms. 8.0 7.6 accordance with modified terms. 0.3 0.3 December 31, 2022 and 2021, respectively. The modifications made to TDRs involved either an extension of the loan term, a principal moratorium, rate, or a combination thereof. two of $ 0.1 three 0.6 million. three 0.2 financial impact of these modifications was not material. For the years ended December 31, 2022 and 2021, 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 level Company (the “Board”) review and approve these policies and procedures 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 of 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 personal service coverage ratio limits that require a borrower’s cash flow to be 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 and investors 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 the 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 consist 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 consideration employment status, current assets, other financial resources, credit history, mortgage liens on 1-4 family residential properties. evaluations. Real Estate Home Equity – Home equity loans and lines are made to qualified individuals secured by senior or junior mortgage liens on owner-occupied 1-4 include favorable credit history combined with supportive income and debt 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 includes and receipt of credit reports. Credit Quality Indicators . loans into risk categories based on relevant information about the ability financial information, historical payment performance, credit documentation, other factors. individual loan relationships over a predetermined amount and review uses the definitions noted below for categorizing and managing its criticized loans. 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 and by payment nonperforming status is updated on an on-going basis dependent upon improvement 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 (As Restated) Revolving (As Restated) (Dollars in Thousands) 2022 2021 2020 2019 2018 Prior Loans Total Commercial, Financial, Agricultural: Pass $ 96,326 $ 43,584 $ 20,061 $ 14,744 $ 6,899 $ 11,970 $ 50,934 $ 244,518 Special Mention - 262 7 - 51 - 2,330 2,650 Substandard - - - - 13 133 48 194 Total $ 96,326 $ 43,846 $ 20,068 $ 14,744 $ 6,963 $ 12,103 $ 53,312 $ 247,362 Real Estate - Construction: Pass $ 141,784 $ 73,219 $ 11,928 $ 397 $ - $ 123 $ 4,431 $ 231,882 Special Mention - 716 384 832 - - - 1,932 Substandard 17 - 688 - - - - 705 Total $ 141,801 $ 73,935 $ 13,000 $ 1,229 $ - $ 123 $ 4,431 $ 234,519 Real Estate - Commercial Mortgage: Pass $ 243,818 $ 159,334 $ 131,131 $ 55,122 $ 51,864 $ 101,175 $ 20,575 $ 763,019 Special Mention 635 1,860 931 1,420 724 2,405 549 8,524 Substandard 9,115 - - 659 220 631 389 11,014 Total $ 253,568 $ 161,194 $ 132,062 $ 57,201 $ 52,808 $ 104,211 $ 21,513 $ 782,557 Real Estate - Residential: Pass $ 473,235 $ 97,083 $ 46,322 $ 29,179 $ 19,791 $ 65,071 $ 10,822 $ 741,503 Special Mention 94 360 533 - - 648 - 1,635 Substandard 560 766 1,034 913 714 2,388 - 6,375 Total $ 473,889 $ 98,209 $ 47,889 $ 30,092 $ 20,505 $ 68,107 $ 10,822 $ 749,513 Real Estate - Home Equity: Performing $ 149 $ 136 $ 12 $ 397 $ 147 $ 1,215 $ 205,390 $ 207,446 Nonperforming - - - 15 - 13 743 771 Total $ 149 136 12 412 147 1,228 206,133 208,217 Consumer: Performing $ 134,021 $ 111,762 $ 37,010 $ 21,065 $ 12,273 $ 3,739 $ 5,064 $ 324,934 Nonperforming 248 59 120 115 7 30 4 583 Total $ 134,269 $ 111,821 $ 37,130 $ 21,180 $ 12,280 $ 3,769 $ 5,068 $ 325,517 |
MORTGAGE BANKING ACTIVITIES
MORTGAGE BANKING ACTIVITIES | 12 Months Ended |
Dec. 31, 2022 | |
Mortgage Banking Activities [Abstract] | |
Mortgage Banking Activities | Note 4 MORTGAGE BANKING ACTIVITIES The Company’s mortgage residential loan pipeline price risk, utilization of warehouse lines to fund residential mortgage servicing. Residential Mortgage Loan Production The Company originates, markets, and services conventional and government conforming fixed rate residential mortgage loans are held for sale in the secondary 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 residential TBAs) or mandatory delivery commitments with investors. The unpaid principal balance of residential mortgage loans held for sale, residential mortgage loan commitments and forward contract sales and their related (As Restated) December 31, 2022 December 31, 2021 Unpaid Principal Unpaid Principal (Dollars in Thousands) Balance/Notional Fair Value Balance/Notional Fair Value Residential Mortgage Loans Held for Sale $ 26,274 $ 26,909 $ 50,773 $ 52,532 Residential Mortgage Loan Commitments (1) 36,535 819 51,883 1,258 Forward Sales Contracts (2) 15,500 187 48,000 (7) $ 27,915 $ 53,783 (1) Recorded in other assets at fair value (2) Recorded in other assets and (other liabilities) At December 31, 2022, the Company had $ 0.6 0.1 million of loans were on nonaccrual status. 0.2 held for sale 30-89 days past due and no loans were on nonaccrual status. Mortgage banking revenues for the year ended December 31, was as follows: (Dollars in Thousands) (As Restated) 2022 2021 2020 Net realized gain on sales of mortgage loans $ 5,565 $ 49,355 $ 59,709 Net change in unrealized gain on mortgage loans held for sale (1,164) (2,410) 2,926 Net change in the fair value of mortgage loan commitments (439) (3,567) 2,625 Net change in the fair value of forward sales contracts 192 900 284 Pair-Offs on net settlement of forward 4,956 2,956 (9,602) Mortgage servicing rights additions 565 1,416 3,448 Net origination fees 2,234 3,775 3,954 Total mortgage banking $ 11,909 $ 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. (As Restated) (Dollars in Thousands) 2022 2021 Number of residential mortgage loans serviced for others 1,769 2,106 Outstanding principal balance of residential mortgage loans serviced $ 410,740 $ 532,967 Weighted average 3.62% 3.59% Remaining contractual term (in months) 298 317 Conforming conventional loans serviced by the Company are sold to the non-recourse basis, whereby foreclosure losses are generally the responsibility loans serviced by the Company are secured through the GNMA, whereby Housing Administration or partially guaranteed against loss by servicing portfolio balance consisted of the following loan types: FNMA 60.2 %), GNMA ( 0.1 %), and private investor ( 39.7 %). FNMA and private investor loans are structured as actual/actual payment remittance The Company had $ 0.3 2.0 the Company at December 31, 2022 and 2021, respectively. has been recorded in other assets and other liabilities, respectively, the years ended December 31, 2022 and 2021, respectively, 1.7 2.8 delinquent or defaulted mortgage loans with the intention to modify their Activity in the capitalized mortgage servicing rights for the year ended (As Restated) (Dollars in Thousands) 2022 2021 2020 Beginning balance $ 3,774 $ 3,452 $ 910 Additions due to loans sold with servicing retained 565 1,416 3,448 Deletions and amortization (1,291) (1,344) (656) Valuation - 250 (250) Sale of Servicing Rights (1) (449) - - Ending balance $ 2,599 $ 3,774 $ 3,452 (1) The Company sold an MSR portfolio with an unpaid principal balance of $ 50 0.6 0.2 The Company did no t record any permanent impairment losses on mortgage servicing rights for the 2022 The key unobservable inputs used in determining the fair value of the Company’s as follows: 2022 2021 Minimum Maximum Minimum Maximum Discount rates 9.50% 12.00% 11.00% 15.00% Annual prepayment speeds 12.33% 20.23% 11.98% 23.79% Cost of servicing (per loan) $ 85 95 $ 60 73 Changes in residential mortgage interest rates directly affect servicing rights. rates, estimated loan curtailment, anticipated defaults, and other relevant was 13.42 % at December 31, 2022 and 15.85 % at December 31, 2021. Warehouse The Company has the following warehouse lines of credit and master repurchase December 31, 2022. Amounts (Dollars in Thousands) Outstanding $ 75 1.00% to plus 1.00% , with a floor rate of 3.25% . 0.5 $ 9,577 $ 75 December 2022 . 2.25% to 3.25% . 40,575 $ 50,152 Warehouse $ 29.0 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, 2022. The Company intends to renew the warehouse lines of credit and master repurchase The Company has extended a $ 50 are eliminated in the Company’s consolidated on the Consolidated Statement of Financial Condition. 2021 was $ 22.9 14.8 |
DERIVATIVES
DERIVATIVES | 12 Months Ended |
Dec. 31, 2022 | |
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 %. the swap agreement and the Adjustable Interest Rate (LIBOR) Act of 2021, overnight financing rate) as the interest rate index. 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 are 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, 2022 Other Assets $ 30,000 $ 6,195 7.5 December 31, 2021 Other Assets $ 30,000 $ 2,050 8.5 The following table presents the net gains (losses) recorded in AOCI and the 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, 2022 Interest Expense $ 4,625 $ 337 December 31, 2021 Interest Expense $ 1,530 $ (151) December 31, 2020 Interest Expense $ 428 $ (64) The Company estimates there will be approximately $ 1.3 months. At December 31, 2022 and 2021, the Company had a collateral liability of 5.8 2.0 |
PREMISES AND EQUIPMENT
PREMISES AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2022 | |
Premises and equipment [Abstract] | |
PREMISES AND EQUIPMENT | Note 6 PREMISES AND EQUIPMENT The composition of the Company’s (Dollars in Thousands) 2022 2021 Land $ 22,847 $ 23,575 Buildings 109,849 110,503 Fixtures and Equipment 59,627 57,010 Total Premises and Equipment 192,323 191,088 Accumulated Depreciation (110,185) (107,676) Premises and Equipment, Net $ 82,138 $ 83,412 Depreciation expense for the above premises and equipment was approximately 7.6 7.6 7.0 2022, 2021, and 2020, respectively |
LEASES
LEASES | 12 Months Ended |
Dec. 31, 2022 | |
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 forty-three years . Company’s leases are not complex assumptions or judgments made in applying the requirements of ASC Topic months or less are not recorded on the Consolidated Statement of Financial Condition on a straight-line basis over the lease term. 22.3 22.7 million, respectively. 11.5 12.2 respectively. The table below summarizes our lease expense and other information at (Dollars in Thousands) 2022 2021 2020 Operating lease expense $ 1,719 $ 1,445 $ 1,018 Short-term lease expense 658 663 530 Total lease expense $ 2,377 $ 2,108 $ 1,548 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,937 $ 1,609 $ 1,174 Right-of-use assets obtained in exchange for new operating lease liabilities 12,475 784 11,101 Weighted-average 19.5 25.3 25.4 Weighted-average 3.1 % 2.0 % 2.1 % The table below summarizes the maturity of remaining lease liabilities: (Dollars in Thousands) December 31, 2022 2022 $ 2,482 2023 2,307 2024 2,089 2025 2,013 2026 1,939 2027 and thereafter 18,922 Total $ 29,752 Less: Interest (7,086) Present Value $ 22,666 At December 31, 2022, the Company had three additional operating commenced. 1.9 15 payments totaling $ 1.4 10 0.1 based on the initial contract term of 5 quarter of 2023. A related party is the lessor in an operating lease with the Company. 0.2 through 2042, and will reprice at annual fair market rental value until 2052, 2.4 at December 31, 2022. |
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill And Other Intangibles [Abstract] | |
GOODWILL AND OTHER INTANGIBLES | Note 8 GOODWILL AND OTHER INTANGIBLES At December 31, 2022 and 2021, the Company had goodwill of $ 91.8 basis, or more often if impairment indicators exist. If the assessment indicates that impairment has more than likely occurred, the the reporting unit to its carrying amount. impairment charge is recorded equal to the excess. On April 30, 2021, CCSW acquired substantially all of the assets of SWG, including agreements, and the assignment of all related revenues thereof. Under the became officers of CCSW and will continue the operation of their services and comprehensive risk management and asset protection CCBG paid $ 4.5 million in cash consideration and recorded goodwill of $ 2.8 10 year $ 1.6 0.2 0.1 and 2021, respectively. 1.3 and $ 1.6 0.2 year. During the fourth quarter of 2022, the Company performed its annual goodwill no goodwill impairment existed at December 31, 2022 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, 2022 | |
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 (Dollars in Thousands) 2022 2021 2020 Beginning Balance $ 17 $ 808 $ 953 Additions 2,398 1,717 2,297 Valuation (11) (31) (792) Sales (1,973) (2,809) (1,650) Other - 332 - Ending Balance $ 431 $ 17 $ 808 Net expenses applicable to other real estate owned for the three years ended December (Dollars in Thousands) 2022 2021 2020 Gains from the Sale of Properties $ (480) $ (1,711) $ (1,218) Losses from the Sale of Properties 47 18 33 Rental Income from Properties (21) - - Property Carrying Costs 106 174 497 Valuation 11 31 792 Total $ (337) $ (1,488) $ 104 |
DEPOSITS
DEPOSITS | 12 Months Ended |
Dec. 31, 2022 | |
Deposits [Abstract] | |
DEPOSITS | Note 10 DEPOSITS The composition of the Company’s (Dollars in Thousands) 2022 2021 NOW Accounts $ 1,290,494 $ 1,070,154 Money Market Accounts 267,383 274,611 Savings Deposits 637,374 599,811 Time Deposits 90,446 99,374 Total Interest Bearing $ 2,285,697 $ 2,043,950 At December 31, 2022 and 2021, $ 1.1 The amount of time deposits that meet or exceed the FDIC insurance limit of $250,000 11.1 10.0 December 31, 2022 and 2021, respectively. At December 31, the scheduled maturities of time deposits were as follows: (Dollars in Thousands) 2022 2023 $ 69,221 2024 10,284 2025 5,122 2026 1,737 2027 4,082 Total $ 90,446 Interest expense on deposits for the three years ended December 31, was as follows: (Dollars in Thousands) 2022 2021 2020 NOW Accounts $ 2,800 $ 294 $ 930 Money Market Accounts 203 134 223 Savings Deposits 309 263 207 Time Deposits < $250,000 129 145 179 Time Deposits > $250,000 3 3 9 Total Interest Expense $ 3,444 $ 839 $ 1,548 |
SHORT-TERM BORROWINGS
SHORT-TERM BORROWINGS | 12 Months Ended |
Dec. 31, 2022 | |
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) 2022 Balance at December 31 $ - $ 6,582 $ 50,211 Maximum indebtedness at any month end - 9,452 50,211 Daily average indebtedness outstanding 2 8,095 32,386 Average rate paid 3.39 % 0.17 % 5.40 % Average rate paid - % 0.40 % 7.61 % 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 % (1) Balances are fully collateralized by government treasury or agency securities held in the Company's investment portfolio. (2) Comprised of FHLB advances totaling $ 0.1 50.1 |
LONG-TERM BORROWINGS
LONG-TERM BORROWINGS | 12 Months Ended |
Dec. 31, 2022 | |
Long-term Borrowings [Abstract] | |
LONG-TERM BORROWINGS | Note 12 LONG-TERM BORROWINGS Federal Home Loan Bank Advances. The Company had one FHLB long-term advance totaling $ 0.5 2022. The advance matures in 2025 and has a rate of 4.80%. The Company had FHLB long-term advances totaling $0.9 million at December 31, 2021 with a weighted-average rate of 3.37%. 1-4 family residential mortgage loans, commercial real estate mortgage loans, FHLB advances is paid on a monthly basis. Scheduled minimum future principal payments on our other long-term (Dollars in Thousands) 2022 2023 $ 199 2024 198 2025 116 Total $ 513 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. June 30, 2023, in accordance with the trust agreement and the Adjustable Interest replaced with 3-month CME term SOFR (secured overnight financing 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 their tax or regulatory capital treatment. Distributions on the trust preferred September 30, and December 31 of each year. 0.9 CCBG. 30.9 million junior subordinated deferrable interest note issued by the Company, securities. 10 part of a liquidation of a pooled collateralized debt obligation fund. CCBG Capital Trust I. 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 at any time twenty consecutive quarterly interest payment periods. circumstances there is an event of default under the note or the Company has elected 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 under the of the Company under the two junior subordinated notes, the trust agreements establishing agreement as to expenses and liabilities, in aggregate, constitute a full and unconditional 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, 2022 | |
Income Tax [Abstract] | |
INCOME TAXES | Note 13 INCOME TAXES The provision for income taxes reflected in the Consolidated Statements of Comprehensive components: 2022 (Dollars in Thousands) (As Restated) 2021 2020 Current: Federal $ 10,646 $ 12,039 $ 8,625 State 1,022 1,044 1,658 11,668 13,083 10,283 Deferred: Federal (2,994) (3,246) (143) State (899) (10) 130 Change in Valuation 23 8 (40) (3,870) (3,248) (53) Total: Federal 7,652 8,793 8,482 State 123 1,034 1,788 Change in Valuation 23 8 (40) Total $ 7,798 $ 9,835 $ 10,230 Income taxes provided were different than the tax expense 21 % to pre-tax income as a result of the following: 2022 (Dollars in Thousands) (As Restated) 2021 2020 Tax Expense at Federal $ 8,625 $ 10,385 $ 11,106 Increases (Decreases) Resulting From: Tax-Exempt Interest (248) (271) (341) State Taxes, Net of Federal 94 819 1,413 Other (546) 375 601 Change in Valuation 23 8 (40) Tax-Exempt Cash Surrender (175) (173) (173) Noncontrolling Interest 25 (1,308) (2,336) Actual Tax Expense $ 7,798 $ 9,835 $ 10,230 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 (As Restated) (Dollars in Thousands) 2022 2021 Deferred Tax Assets Attributable Allowance for Credit Losses $ 6,042 $ 5,308 Accrued Pension/SERP 1,530 4,468 State Net Operating Loss and Tax 1,920 1,984 Other Real Estate Owned 917 1,029 Accrued SERP Liability 3,246 2,442 Lease Liability 4,547 2,597 Net Unrealized Losses on Investment Securities 12,499 1,532 Other 3,043 2,325 Investment in Partnership 1,544 Total Deferred $ 35,288 $ 21,685 Deferred Tax Liabilities Depreciation on Premises and Equipment $ 3,382 $ 3,208 Deferred Loan Fees and Costs 2,372 2,016 Intangible Assets 3,310 3,276 Accrued Pension Liability 1,043 2,138 Right of Use Asset 4,474 2,453 Investments 469 469 Other 2,099 857 Total Deferred 17,149 14,417 Valuation 1,671 1,648 Net Deferred Tax Asset $ 16,468 $ 5,620 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 $ 1.9 2023 2037 . At December 31, 2022, and December 31, 2021, the Company had no It is the Company’s policy to recognize federal or state income taxes accounts. no Statements of Income for the years ended December 31, 2022, 2021, 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 are or state tax examinations for years before 2019. |
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION | 12 Months Ended |
Dec. 31, 2022 | |
Stock-Based Compensation [Abstract] | |
STOCK-BASED COMPENSATION | Note 14 STOCK-BASED COMPENSATION At December 31, 2022, 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. 1.6 1.6 2.3 million, respectively. AIP. there were 700,000 AIP, for associates under the 2021 Plan were tied to internally established performance value of the shares eligible to be awarded in 2022 was approximately $ 1.1 60 % of the award is in the form of stock and 40 % in the form of a cash bonus. 24,222 shares could be earned if performance exceeded established goals. 41,460 in January 2023. 11,847 10,377 under the Plan. The Company recognized expense of $ 1.9 1.2 1.0 31, 2022, 2021 and 2020, respectively, Executive Long-Term . provisions of the AIP that allows William G. Smith, Jr., 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 0.2 0.4 under the plan were 6,849 , 27,915 , and 32,482 4,909 After deducting the shares earned, but not issued, in 2022 under the AIP and 545,035 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 expense under the DSPP for the years ended December 31, 2022, 2021 and 2020. totaling 14,977 , 19,362 16,119 there were 265,661 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, 25,000 (fair market value on each enrollment date) in any plan year. 400,000 reserved for issuance. 0.1 0.1 0.2 years ended December 31, 2022, 2021 and 2020, respectively. 31,101 , 22,126 33,910 346,773 remained eligible for issuance under the ASPP. Based on the Black-Scholes option pricing model, the weighted average granted under the ASPP was $ 4.03 $ 3.96 5.83 , respectively. of grant using the following weighted average assumptions: 2022 2021 2020 Dividend yield 2.4 % 2.5 % 2.4 % Expected volatility 17.6 % 21.8 % 45.6 % Risk-free interest rate 1.4 % 0.1 % 0.9 % Expected life (in years) 0.5 0.5 0.5 |
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS | 12 Months Ended |
Dec. 31, 2022 | |
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 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) 2022 2021 2020 Change in Projected Benefit Obligation: Benefit Obligation at Beginning of Year $ 172,508 $ 212,566 $ 180,830 Service Cost 6,289 6,971 5,828 Interest Cost 4,665 4,885 5,612 Actuarial (Gain) Loss (39,962) (14,934) 32,172 Benefits Paid (2,139) (2,087) (11,677) Expenses Paid (416) (259) (260) Settlements (32,794) (34,634) - Special/Contractual Termination - - 61 Projected Benefit Obligation at End of Year $ 108,151 $ 172,508 $ 212,566 Change in Plan Assets: Fair Value $ 165,274 $ 171,775 $ 161,646 Actual Return on Plan Assets (25,649) 30,479 17,066 Employer Contributions - - 5,000 Benefits Paid (2,139) (2,087) (11,677) Expenses Paid (416) (259) (260) Settlements (32,794) (34,634) - Fair Value $ 104,276 $ 165,274 $ 171,775 Funded Status of Plan and Accrued Liability Recognized at End of Year: Other Liabilities $ 3,875 $ 7,234 $ 40,791 Accumulated Benefit Obligation at End of Year $ 91,770 $ 149,569 $ 177,362 Components of Net Periodic Benefit Costs: Service Cost $ 6,289 $ 6,971 $ 5,828 Interest Cost 4,665 4,885 5,612 Expected Return on Plan Assets (10,701) (11,147) (10,993) Amortization of Prior Service Costs 15 15 15 Special/Contractual Termination - - 61 Net Loss Amortization 1,713 6,764 3,933 Net Loss Settlements 2,321 3,072 - Net Periodic Benefit Cost $ 4,302 $ 10,560 $ 4,456 Weighted-Average Discount Rate 5.63% 3.11% 2.88% Rate of Compensation Increase (1) 5.10% 4.40% 4.00% Measurement Date 12/31/22 12/31/21 12/31/20 Weighted-Average Discount Rate 3.11% 2.88% 3.53% Expected Return on Plan Assets 6.75% 6.75% 7.00% Rate of Compensation Increase (1) 4.40% 4.00% 4.00% Amortization Amounts from Accumulated Other Comprehensive Income: Net Actuarial Loss (Gain) $ (3,612) $ (34,265) $ 26,098 Prior Service Cost (15) (15) (15) Net Loss (4,034) (9,836) (3,933) Deferred Tax Expense 1,942 11,183 (5,615) Other Comprehensive Loss (Gain), net of tax $ (5,719) $ (32,933) $ 16,535 Amounts Recognized in Accumulated Other Comprehensive Income: Net Actuarial Losses $ 7,653 $ 15,300 $ 59,400 Prior Service Cost 5 20 35 Deferred Tax Benefit (1,941) (3,884) (15,066) Accumulated Other Comprehensive Loss, net of tax $ 5,717 $ 11,436 $ 44,369 (1) During 2022 and 2021, lump sum payments made under the Company’s accounting. losses of $ 2.3 3.1 The service cost component of net periodic benefit cost is reflected in compensation Statements of Income. in the Consolidated Statements of Income. The Company expects to recognize $ 0.9 December 31, 2022 as a component of net periodic benefit cost during 2023. Plan Assets. The Company’s pension 2022 are as follows: Target Percentage of Plan Allocation Assets at December 31 (1) 2023 2022 2021 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) 2022 2021 Level 1: U.S. Treasury Securities $ 17,264 $ 200 Mutual Funds 81,231 156,726 Cash and Cash Equivalents 5,327 6,881 Level 2: U.S. Government Agency - 527 Corporate Notes/Bonds 454 940 Total Fair Value $ 104,276 $ 165,274 Expected Benefit Payments. follows: (Dollars in Thousands) 2022 2023 $ 9,446 2024 8,896 2025 9,966 2026 9,638 2027 9,270 2028 through 2032 43,323 Total $ 90,539 Contributions. The following table details the amounts contributed to the pension plan in 2022 amount to be contributed in 2023. Expected Contribution (Dollars in Thousands) 2021 2022 2023 (1) Actual Contributions $ 5,000 $ - $ - 10,000 (1) 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 used to determine these amounts. (Dollars in Thousands) 2022 2021 2020 Change in Projected Benefit Obligation: Benefit Obligation at Beginning of Year $ 13,534 $ 13,402 $ 10,244 Service Cost 31 35 31 Interest Cost 315 243 321 Actuarial (Gain) Loss (2,932) (146) 1,826 Plan Amendments - - 980 Projected Benefit Obligation at End of Year $ 10,948 $ 13,534 $ 13,402 Funded Status of Plan and Accrued Liability Recognized at End of Year: Other Liabilities $ 10,948 $ 13,534 $ 13,402 Accumulated Benefit Obligation at End of Year $ 10,887 $ 12,803 $ 12,339 Components of Net Periodic Benefit Costs: Service Cost $ 31 $ 35 $ 31 Interest Cost 315 243 321 Amortization of Prior Service Cost 277 277 327 Net Loss Amortization 718 970 503 Net Periodic Benefit Cost $ 1,341 $ 1,525 $ 1,182 Weighted-Average Discount Rate 5.45% 2.80% 2.38% Rate of Compensation Increase (1) 5.10% 4.40% 4.00% Measurement Date 12/31/22 12/31/21 12/31/20 Weighted-Average Discount Rate 2.80% 2.38% 3.16% Rate of Compensation Increase (1) 4.40% 4.00% 3.50% Amortization Amounts from Accumulated Other Comprehensive Income: Net Actuarial $ (2,932) $ (146) $ 1,826 Prior Service (Benefit) Cost (277) (219) 895 Net Loss (718) (970) (458) Deferred Tax Expense 995 154 (573) Other Comprehensive (Gain) Loss, net of tax $ (2,932) $ (1,181) $ 1,690 Amounts Recognized in Accumulated Other Comprehensive Income: Net Actuarial Loss $ (1,775) $ 1,875 $ 2,991 Prior Service Cost 151 429 895 Deferred Tax Benefit 412 (584) (985) Accumulated Other Comprehensive (Loss) Gain, net of tax $ (1,212) $ 1,720 $ 2,901 (1) The Company expects to recognize approximately $ 0.5 comprehensive income at December 31, 2022 as a component of net periodic In June 2023, lump sum retirement distributions to two plan participants The amount of the settlement charge cannot be determined until the Expected Benefit Payments . As of December 31, expected benefit payments related to the SERP were as follows: (Dollars in Thousands) 2022 2023 $ 9,182 2024 1,044 2025 18 2026 19 2027 20 2028 through 2032 261 Total $ 10,544 401(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 for up to 6 % of the participant’s compensation for 50 % match, all associates hired after December 31, 2019 will receive annually a contribution by the Company 3 % of their compensation. Company made annual matching contributions of $ 1.4 contributions of $ 1.0 0.8 four investment options available to 401(k) participants, including the Company’s 50,000 CCBG common stock have been reserved for issuance. market. CCHL has a 401(k) Plan available to all CCHL associates who are amount, up to the maximum annual limit allowed by the IRS, of their compensation 401(k) Plan trust account. matching contributions were made by CCHL up to 3 % of eligible participant’s 0.4 0.7 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 2022, |
EARNINGS PER SHARE
EARNINGS PER SHARE | 12 Months Ended |
Dec. 31, 2022 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | Note 16 EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings (As Restated) (Dollars and Per Share Data in Thousands) 2022 2021 2020 Numerator: Net Income Attributable to Common Shareowners $ 33,412 $ 33,396 $ 31,576 Denominator: Denominator for Basic Earnings Per Share Weighted 16,951 16,863 16,785 Effects of Dilutive Securities Stock Compensation 34 30 37 Denominator for Diluted Earnings Per Share Adjusted Weighted 16,985 16,893 16,822 Basic Earnings Per Share $ 1.97 $ 1.98 $ 1.88 Diluted Earnings Per Share $ 1.97 $ 1.98 $ 1.88 |
REGULATORY MATTERS
REGULATORY MATTERS | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022 and 2021, 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 2022 (As Restated) Common Equity Tier 1: CCBG $ 335,512 12.38% $ 121,918 4.50% * * CCB 358,882 13.25% 121,913 4.50% $ 176,096 6.50% Tier 1 Capital: CCBG 386,512 14.27% 162,557 6.00% * * CCB 358,882 13.25% 162,550 6.00% 216,733 8.00% Total Capital: CCBG 414,569 15.30% 216,743 8.00% * * CCB 386,067 14.25% 216,733 8.00% 270,917 10.00% Tier 1 Leverage: CCBG 386,512 8.91% 173,546 4.00% * * CCB 358,882 8.27% 173,505 4.00% 216,881 5.00% 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 Capital: 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% * 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. $ 47.0 dividend declaration. |
ACCUMULATED OTHER COMPREHENSIVE
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 12 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | Note 18 ACCUMULATED OTHER FASB Topic Consolidated Statements of Income be displayed as other comprehensive the Consolidated Statements of Comprehensive Income (net of 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, 2022 $ (4,588) $ 1,530 $ (13,156) $ (16,214) Other comprehensive (loss) income during the period (32,761) 3,095 8,651 (21,015) Balance as of December 31, 2022 $ (37,349) $ 4,625 $ (4,505) $ (37,229) Balance as of January 1, 2021 $ 2,700 $ 428 $ (47,270) $ (44,142) Other comprehensive income (loss) 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) |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | Note 19 RELATED PARTY At December 31, 2022 and 2021, certain officers and directors were indebted 7.3 and $ 3.8 8.5 2.4 totaled $ 5.0 2.9 Deposits from certain directors, executive officers, and 66.3 50.1 31, 2022 and 2021, respectively. Under a lease agreement expiring in 2052 , the Bank leases land from a partnership in which William G. Smith, 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, North Florida Region at Capital City Bank. base salary, annual bonus, employment and compensation practices applicable to associates with similar responsibilities |
OTHER NONINTEREST EXPENSE
OTHER NONINTEREST EXPENSE | 12 Months Ended |
Dec. 31, 2022 | |
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 and noninterest income, which are not disclosed separately elsewhere, are presented below for each of (Dollars in Thousands) 2022 2021 2020 Legal Fees $ 1,413 $ 1,411 $ 1,570 Professional Fees 5,437 5,633 4,863 Telephone 2,851 2,975 2,869 Advertising 3,208 2,683 2,998 Processing Services 6,534 6,569 5,832 Insurance – Other 2,409 2,096 1,607 Pension – Other (3,043) 1,913 (216) Pension – Settlement 2,321 3,072 - Other 14,411 10,754 11,500 Total $ 35,541 37,106 31,023 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2022 | |
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 2022 2021 (Dollars in Thousands) Fixed Variable Total Fixed Variable Total Commitments to Extend Credit (1) $ 243,614 $ 531,873 $ 775,487 $ 217,531 $ 505,897 $ 723,428 Standby Letters of Credit 5,619 - 5,619 5,205 - 5,205 Total $ 249,233 $ 531,873 $ 781,106 $ 222,736 $ 505,897 $ 728,633 (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 drawn 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) 2022 2021 2020 Beginning Balance $ 2,897 $ 1,644 $ 157 Impact of Adoption of ASC 326 - - 876 Provision for Credit Losses 92 1,253 611 Ending Balance $ 2,989 $ 2,897 $ 1,644 Other Commitments . operating leases. Furthermore, the Company has an outstanding commitment of up to 1.0 finding and funding technology solutions for community banks and a commitment 7.0 fund. 0.2 1.0 solar fund commitment. 0.1 Contingencies . opinion, there are no 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 Conversion ratio payments and ongoing fixed quarterly charges 2022 totaled $ 0.9 0.8 0.7 December 31, 2022, there was $ 0.1 0.1 |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 12 Months Ended |
Dec. 31, 2022 | |
Fair Value Measurements [Abstract] | |
FAIR VALUE MEASUREMENTS | Note 22 FAIR VALUE The fair value of an asset or liability is the exchange price that would be received transfer that liability (exit price) in an orderly transaction occurring in the principal absence of a principal market) for such asset or liability. are consistent with the market approach, the income approach and/or consistently applied. or liability. in active markets for identical assets or liabilities and the lowest priority to unobservable follows: ● 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 IRLCs are derived by valuation models incorporating pricing for instruments with similar characteristics, commonly referred prices for best effort IRLCs which have unobservable inputs, such as an to be recorded upon sale of the loans, net estimated costs to originate the loans, and the pull-through classified as Level 3 within the fair value hierarchy. pricing for similar instruments and are therefore classified as Level 2 within 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 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 2022 (As Restated) ASSETS: Securities Available for U.S. Government Treasury $ 22,050 $ - $ - $ 22,050 U.S. Government Agency - 186,052 - 186,052 States and Political Subdivisions - 40,329 - 40,329 Mortgage-Backed Securities - 69,405 - 69,405 Corporate Debt Securities - 88,236 - 88,236 Loans Held for Sale - 26,909 - 26,909 Interest Rate Swap Derivative - 6,195 - 6,195 Mortgage Banking Hedge Derivative - 187 - 187 Mortgage Banking IRLC Derivative - - 819 819 2021 ASSETS: Securities Available for U.S. Government Treasury $ 187,868 $ - $ - $ 187,868 U.S. Government Agency - 237,578 - 237,578 State and Political Subdivisions - 46,980 - 46,980 Mortgage-Backed Securities - 88,869 - 88,869 Corporate Debt Securities - 86,222 - 86,222 Loans Held for Sale - 52,532 - 52,532 Interest Rate Swap Derivative - 2,050 - 2,050 Mortgage Banking IRLC Derivative - - 1,258 1,258 LIABILITIES: Mortgage Banking Hedge Derivative $ - $ 7 $ - $ 7 Mortgage Banking Activities. The Company had Level 3 issuances and transfers of $ 15.4 28.5 for the year ended December 31, 2022 related to mortgage banking of $ 31.3 47.7 change in fair value of the underlying mortgage loan from inception of the IRLC to the Consolidated Condition date, adjusted for pull-through rates and costs to originate. funded and moved to mortgage 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. 0.7 $ 0.1 2.8 $ 0.2 Other Real Estate Owned . at fair value through a charge-off to the allowance cost to sell. valuation or professional appraisal in conformance with banking regulations. on foreclosed assets and record valuation adjustments as necessary. inputs due to the judgment and 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 loans 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. no allowance for mortgage servicing rights. 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 fixed 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 2022 (As Restated) (Dollars in Thousands) Carrying Level 1 Level 2 Level 3 Value Inputs Inputs Inputs ASSETS: Cash $ 72,114 $ 72,114 $ - $ - Short-Term Investments 528,536 528,536 - - Investment Securities, Held to Maturity 660,774 431,733 180,968 - Equity Securities (1) 10 - 10 - Other Equity Securities (2) 2,848 - 2,848 - Mortgage Servicing Rights 2,599 - - 4,491 Loans, Net of Allowance for Credit Losses 2,522,617 - - 2,377,229 LIABILITIES: Deposits $ 3,939,317 $ - $ 3,310,383 $ - Short-Term 56,793 - 56,793 - Subordinated Notes Payable 52,887 - 45,763 - Long-Term Borrowings 513 - 513 - 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, Held to Maturity 339,601 113,877 225,822 - Equity Securities (1) 861 - 861 - Other Equity Securities (2) 2,848 - 2,848 - Mortgage Servicing Rights 3,774 - - 4,718 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 - (1) (2) 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, 2022 | |
Parent Company Financial Information [Abstract] | |
PARENT COMPANY FINANCIAL INFORMATION | Note 23 PARENT COMPANY The following are condensed statements of financial condition of Parent Company Statements of Financial Condition (As Restated) (Dollars in Thousands, Except Per Share 2022 2021 ASSETS Cash and Due From Subsidiary Bank $ 42,737 $ 25,768 Equity Securities 199 120 Investment in Subsidiary Bank 404,892 415,580 Goodwill and Other Intangibles 3,998 4,158 Other Assets 11,297 7,866 Total Assets $ 463,123 $ 453,492 LIABILITIES Subordinated Notes Payable 52,887 52,887 Other Liabilities 22,955 17,439 Total Liabilities $ 75,842 $ 70,326 SHAREOWNERS’ EQUITY Common Stock, $ .01 90,000,000 16,986,785 16,892,060 issued and outstanding at December 31, 2022 and 2021, respectively 170 169 Additional Paid-In Capital 37,331 34,423 Retained Earnings 387,009 364,788 Accumulated Other Comprehensive Loss, Net of Tax (37,229) (16,214) Total Shareowners’ 387,281 383,166 Total Liabilities and Shareowners’ $ 463,123 $ 453,492 The operating results of the parent company for the three years ended December Parent Company Statements of Operations (As Restated) (Dollars in Thousands) 2022 2021 2020 OPERATING INCOME Income Received from Subsidiary Bank: Administrative Fees $ 5,396 $ 5,516 $ 6,068 Dividends 23,000 10,000 21,000 Other Income 253 174 193 Total Operating 28,649 15,690 27,261 OPERATING EXPENSE Salaries and Associate Benefits 5,034 3,558 3,418 Interest on Subordinated Notes Payable 1,652 1,233 1,514 Professional Fees 616 1,113 1,079 Advertising 232 134 140 Legal Fees 370 589 456 Other 2,186 2,087 1,673 Total Operating 10,090 8,714 8,280 Earnings Before Income Taxes Earnings of Subsidiary Bank 18,559 6,976 18,981 Income Tax Benefit (661) (717) (406) Earnings Before Equity in Undistributed Earnings of Subsidiary Bank 19,220 7,693 19,387 Equity in Undistributed Earnings of Subsidiary Bank 14,192 25,703 12,189 Net Income Attributable to Common Shareowners $ 33,412 $ 33,396 $ 31,576 The cash flows for the parent company for the three years ended December 31 were Parent Company Statements of Cash Flows (As Restated) (Dollars in Thousands) 2022 2021 2020 CASH FLOWS FROM OPERATING Net Income Attributable to Common Shareowners $ 33,412 $ 33,396 $ 31,576 Adjustments to Reconcile Net Income to Net Cash Provided By Equity in Undistributed Earnings of Subsidiary Bank (14,192) (25,703) (12,189) Stock Compensation 1,278 843 892 Amortization of Intangible Asset 160 107 - Increase in Other Assets (336) (21) (217) Increase in Other Liabilities 5,847 3,131 1,900 Net Cash Provided By Operating Activities $ 26,169 $ 11,753 $ 21,962 CASH FROM INVESTING ACTIVITIES: Purchase of Equity Securities $ (79) $ (120) $ - Net Cash Paid for Acquisition - (4,482) - Decrease (Increase) in Investment in Subsidiaries 770 (10,770) - Net Cash Provided by (Used in) Investing Activities $ 691 $ (15,372) $ - CASH FROM FINANCING ACTIVITIES: Repayment of Long-Term - (900) (600) Dividends Paid (11,191) (10,459) (9,567) Issuance of Common Stock Under Compensation Plans 1,300 1,028 1,041 Payments to Repurchase Common Stock - - (2,042) Net Cash Used In Financing Activities $ (9,891) $ (10,331) $ (11,168) Net Increase (Decrease) in Cash 16,969 (13,950) 10,794 Cash at Beginning of Year 25,768 39,718 28,924 Cash at End of Year $ 42,737 $ 25,768 $ 39,718 |
QUARTERLY RESULTS OF OPERATIONS
QUARTERLY RESULTS OF OPERATIONS | 12 Months Ended |
Dec. 31, 2022 | |
Quarterly Results of Operations [Abstract] | |
QUARTERLY RESULTS OF OPERATIONS | Note 24 QUARTERLY As further described in Note 1, the previously reported financial information 30, 2022 and September 30, 2022 have been restated and are reflected in the tables that Issued Consolidated Financial Statements – Description of Misstatements” reflect all adjustments that are, in the opinion of management, necessary for a fair statement of presented. Restated amounts are computed independently for each quarter may not equal the total amount for the respective year due to rounding. CAPITAL CITY BANK CONSOLIDATED STATEMENTS As Restated (Dollars in Thousands, except per share data) Mar 31, 2022 Jun 30, 2022 Sept 30, 2022 ASSETS: Cash and Due From Banks $ 77,963 $ 91,209 $ 72,686 Federal Funds Sold and Interest Bearing Deposits 790,465 603,315 497,679 Total Cash and Cash Equivalents 868,428 694,524 570,365 Investment Securities Available 655,927 , $ 643,679 , and $ 461,646 ) 624,361 601,405 416,745 Investment Securities Held to Maturity (fair value of $ 501,277 498,963 , and $ 623,628 ) 518,678 528,258 676,178 Other Equity Securities 855 900 1,349 1,143,894 1,130,563 1,094,272 Loans Held For Sale 46,256 24,986 23,162 Loans, Net of Unearned Income 1,988,660 2,235,252 2,369,785 Allowance for Loan Losses (20,788) (21,463) (22,747) Loans, Net 1,967,872 2,213,789 2,347,038 Premises and Equipment, Net 82,518 82,932 81,736 Goodwill 93,213 93,173 93,133 Other Real Estate Owned 17 90 13 Other Assets 106,330 111,270 118,272 Total Assets $ 4,308,528 $ 4,351,327 $ 4,327,991 LIABILITIES Deposits: Noninterest Bearing Deposits $ 1,704,329 $ 1,724,671 $ 1,737,046 Interest Bearing Deposits 2,061,178 2,061,587 2,022,332 Total Deposits 3,765,507 3,786,258 3,759,378 Short-Term 30,865 39,463 52,271 Subordinated Notes Payable 52,887 52,887 52,887 Other Long-Term 806 612 562 Other Liabilities 77,323 93,319 84,657 Total Liabilities 3,927,388 3,972,539 3,949,755 Temporary Equity 10,512 10,083 9,751 SHAREOWNERS' EQUITY Preferred Stock, $ .01 3,000,000 no and outstanding - - - Common Stock, $ .01 90,000,000 16,947,602 , 16,959,280 , and $ 16,961,812 169 170 170 Additional Paid-In Capital 35,188 35,738 36,234 Retained Earnings 369,014 373,562 380,284 Accumulated Other Comprehensive Loss, Net of Tax (33,743) (40,765) (48,203) Total Shareowners' Equity 370,628 368,705 368,485 $ 4,308,528 $ 4,351,327 $ 4,327,991 CAPITAL CITY BANK CONSOLIDATED STATEMENTS As Restated For Three Months Ended (Dollars in thousands, except per share data) Mar 31, 2022 Jun 30, 2022 Sept 30, 2022 INTEREST INCOME Loans, Including Fees $ 22,429 $ 24,268 $ 27,839 Investment Securities: Taxable Securities 2,890 3,833 4,360 Tax Exempt Securities 6 7 12 Funds Sold 409 1,408 3,231 Total Interest Income 25,734 29,516 35,442 INTEREST EXPENSE Deposits 224 266 1,052 Short-Term 192 343 536 Subordinated Notes Payable 317 370 443 Other Long-Term 9 8 6 Total Interest Expense 742 987 2,037 Net Interest Income 24,992 28,529 33,405 Provision for Loan Losses 32 1,692 2,154 Net Interest Income After Provision For Loan Losses 24,960 26,837 31,251 NONINTEREST INCOME Deposit Fees 5,191 5,447 5,947 Bank Card Fees 3,763 4,034 3,860 Wealth Management 6,070 4,403 3,937 Mortgage Banking Fees 4,055 4,857 2,895 Other 1,733 1,823 1,870 Total Noninterest 20,812 20,564 18,509 NONINTEREST EXPENSE Compensation 22,298 23,222 22,967 Occupancy, Net 6,093 6,075 6,153 Other 8,132 8,853 8,579 Total Noninterest 36,523 38,150 37,699 INCOME BEFORE INCOME TAXES 9,249 9,251 12,061 Income Tax Expense 1,720 1,685 2,493 NET INCOME 7,529 7,566 9,568 Pre-Tax Income (591) (306) 37 NET INCOME ATTRIBUTABLE $ 6,938 $ 7,260 $ 9,605 BASIC NET INCOME PER SHARE $ 0.41 $ 0.43 $ 0.57 DILUTED NET INCOME PER SHARE $ 0.41 $ 0.43 $ 0.57 AVERAGE Basic 16,931 16,949 16,960 Diluted 16,946 16,971 16,996 CAPITAL CITY BANK CONSOLIDATED STATEMENTS As Restated For Three Months Ended (Dollars in thousands, except per share data) Mar 31, 2022 Jun 30, 2022 Sept 30, 2022 NET INCOME $ 6,938 $ 7,260 $ 9,605 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (25,445) (10,714) (2,618) Unrealized losses on securities transferred from available for sale to held maturity - - (9,384) Amortization of unrealized losses on securities transferred from available held to maturity - - 586 Total Investment (25,445) (10,714) (11,416) Derivative: Change in net unrealized gain on effective cash flow 1,836 1,161 1,407 Benefit Plans: Defined benefit plan settlement 209 169 102 209 169 102 Other comprehensive income (loss), before (23,400) (9,384) (9,907) Deferred tax (benefit) expense related to other comprehensive income (5,871) (2,362) (2,469) Other comprehensive income (loss), net of tax (17,529) (7,022) (7,438) TOTAL COMPREHENSIVE $ (10,591) $ 238 $ 2,167 CAPITAL CITY BANK CONSOLIDATED STATEMENTS As Restated For Three Months Ended March 31, 2022 (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total Balance, January 1, 2022, as restated 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income Attributable to Common Shareowners - - - 6,938 - 6,938 Other Comprehensive Loss, Net of Tax - - - - (17,529) (17,529) Cash Dividends ($ 0.16 - - - (2,712) - (2,712) Stock Based Compensation - - 245 - - 245 Stock Compensation Plan Transactions, net 55,542 520 - - 520 Balance, March 31, 2022, as restated 16,947,602 $ 169 $ 35,188 $ 369,014 $ (33,743) $ 370,628 As Restated For Six Months Ended June 30, 2022 (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total Balance, January 1, 2022, as restated 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income - - - 14,198 - 14,198 Other Comprehensive Loss, Net of Tax - - - - (24,551) (24,551) Cash Dividends ($ 0.32 - - - (5,424) - (5,424) Stock Based Compensation - - 489 - - 489 Stock Compensation Plan Transactions, net 67,220 1 826 - - 827 Balance, June 30, 2022, as restated 16,959,280 $ 170 $ 35,738 $ 373,562 $ (40,765) $ 368,705 As Restated For Nine Months Ended (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total Balance, January 1, 2022 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income - - - 23,803 - 23,803 Other Comprehensive Loss, Net of Tax - - - - (31,989) (31,989) Cash Dividends ($ 0.49 - - - (8,307) - (8,307) Stock Based Compensation - - 904 - 904 Stock Compensation Plan Transactions, net 69,752 1 907 - 908 Balance, September 30, 2022 16,961,812 $ 170 $ 36,234 $ 380,284 $ (48,203) $ 368,485 CAPITAL CITY BANK CONSOLIDATED STATEMENTS As Restated (Dollars in Thousands) For Three Months Ended Mar 31, 2022 For Six Months Ended Jun 30, 2022 For Nine Months Ended Sept 30, 2022 CASH FLOWS FROM OPERATING Net Income Attributable to Common Shareowners $ 6,938 $ 14,198 $ 23,803 Adjustments to Reconcile Net Income to 32 1,724 3,878 1,907 3,802 5,689 2,610 5,053 6,618 40 80 120 209 378 480 (242,253) (549,018) (772,089) 252,584 585,476 813,267 (4,055) (8,912) (11,807) 364 360 570 245 489 904 (19) (19) (19) (6,682) (9,887) (12,854) (27) (72) (83) - (26) (136) 1,897 3,516 3,696 7,036 22,040 12,839 Net Cash Provided (Used In) By Operating Activities 20,826 69,182 74,876 CASH FLOWS FROM INVESTING ACTIVITIES Securities Held to Maturity: (194,448) (218,548) (219,865) 14,441 28,111 40,096 (25,139) (37,044) (41,880) 3,365 3,365 3,365 24,824 47,413 64,301 Purchase of loans held for investment (26,713) (174,779) (329,481) Net Increase in Loans Held for Investment (31,260) (130,913) (113,116) Proceeds From Sales of Other Real Estate Owned - 30 1,683 Purchases of Premises and Equipment (1,013) (3,322) (4,013) Noncontrolling interest contributions received 1,838 2,573 2,867 Net Cash Used In Investing Activities (234,105) (483,114) (596,043) CASH FLOWS FROM FINANCING ACTIVITIES Net Increase in Deposits 52,645 73,396 46,516 Net (Decrease) Increase in Other Short-Term (3,692) 4,784 17,592 Repayment of Other Long-Term (78) (150) (200) Dividends Paid (2,712) (5,424) (8,307) Issuance of Common Stock Under Compensation Plans 190 496 577 Net Cash Provided By Financing Activities 46,353 73,102 56,178 NET DECREASE IN CASH AND CASH EQUIVALENTS (166,926) (340,830) (464,989) Cash and Cash Equivalents at Beginning of Period 1,035,354 1,035,354 1,035,354 Cash and Cash Equivalents at End of Period $ 868,428 $ 694,524 $ 570,365 Supplemental Cash Flow Disclosures: $ 715 $ 1,617 $ 3,588 $ 20 $ 3,765 $ 6,410 Noncash Investing and Financing Activities: $ - $ 77 $ 1,543 CAPITAL CITY BANK CONSOLIDATED STATEMENT As of March 31, 2022 (Dollars in Thousands, except per share data) As Previously Reported Restatement Impact As Restated ASSETS: Cash and Due From Banks $ 77,963 $ - $ 77,963 Federal Funds Sold and Interest Bearing Deposits 790,465 - 790,465 Total Cash and Cash Equivalents 868,428 - 868,428 Investment Securities Available 655,927 ) 624,361 - 624,361 Investment Securities Held to Maturity (fair value of $ 501,277 ) 518,678 - 518,678 Other Equity Securities 855 - 855 1,143,894 - 1,143,894 Loans Held For Sale 50,815 (4,559) 46,256 Loans, Net of Unearned Income 1,985,509 3,151 1,988,660 Allowance for Loan Losses (20,756) (32) (20,788) Loans, Net 1,964,753 3,119 1,967,872 Premises and Equipment, Net 82,518 - 82,518 Goodwill 93,213 - 93,213 Other Real Estate Owned 17 - 17 Other Assets 106,407 (77) 106,330 Total Assets $ 4,310,045 $ (1,517) $ 4,308,528 LIABILITIES Deposits: Noninterest Bearing Deposits $ 1,704,329 $ - $ 1,704,329 Interest Bearing Deposits 2,061,178 - 2,061,178 Total Deposits 3,765,507 - 3,765,507 Short-Term 30,865 - 30,865 Subordinated Notes Payable 52,887 - 52,887 Other Long-Term 806 - 806 Other Liabilities 77,323 - 77,323 Total Liabilities 3,927,388 - 3,927,388 Temporary Equity 10,512 - 10,512 SHAREOWNERS' EQUITY Preferred Stock: $ .01 3,000,000 no - - - Common Stock, $ .01 90,000,000 16,947,602 169 - 169 Additional Paid-In Capital 35,188 - 35,188 Retained Earnings 370,531 (1,517) 369,014 Accumulated Other Comprehensive Loss, Net of Tax (33,743) - (33,743) Total Shareowners' Equity 372,145 (1,517) 370,628 $ 4,310,045 $ (1,517) $ 4,308,528 CAPITAL CITY BANK CONSOLIDATED STATEMENT As of June 30, 2022 (Dollars in Thousands, except per share data) As Previously Reported Restatement Impact As Restated ASSETS: Cash and Due From Banks $ 91,209 $ - $ 91,209 Federal Funds Sold and Interest Bearing Deposits 603,315 - 603,315 Total Cash and Cash Equivalents 694,524 - 694,524 Investment Securities Available 643,679 ) 601,405 - 601,405 Investment Securities Held to Maturity (fair value of $ 498,963 ) 528,258 - 528,258 Other Equity Securities 900 - 900 1,130,563 - 1,130,563 Loans Held For Sale 48,708 (23,722) 24,986 Loans, Net of Unearned Income 2,213,653 21,599 2,235,252 Allowance for Loan Losses (21,281) (182) (21,463) Loans, Net 2,192,372 21,417 2,213,789 Premises and Equipment, Net 82,932 - 82,932 Goodwill 93,173 - 93,173 Other Real Estate Owned 90 - 90 Other Assets 111,935 (665) 111,270 Total Assets $ 4,354,297 $ (2,970) $ 4,351,327 LIABILITIES Deposits: Noninterest Bearing Deposits $ 1,724,671 $ - $ 1,724,671 Interest Bearing Deposits 2,061,587 - 2,061,587 Total Deposits 3,786,258 - 3,786,258 Short-Term 39,463 - 39,463 Subordinated Notes Payable 52,887 - 52,887 Other Long-Term 612 - 612 Other Liabilities 93,319 - 93,319 Total Liabilities 3,972,539 - 3,972,539 Temporary Equity 10,083 - 10,083 SHAREOWNERS' EQUITY Preferred Stock: $ .01 3,000,000 no - - - Common Stock, $ .01 90,000,000 16,959,280 170 - 170 Additional Paid-In Capital 35,738 - 35,738 Retained Earnings 376,532 (2,970) 373,562 Accumulated Other Comprehensive Loss, Net of Tax (40,765) - (40,765) Total Shareowners' Equity 371,675 (2,970) 368,705 $ 4,354,297 $ (2,970) $ 4,351,327 CAPITAL CITY BANK CONSOLIDATED STATEMENT As of September 30, 2022 (Dollars in Thousands, except per share data) As Previously Reported Restatement Impact As Restated ASSETS: Cash and Due From Banks $ 72,686 $ - $ 72,686 Federal Funds Sold and Interest Bearing Deposits 497,679 - 497,679 Total Cash and Cash Equivalents 570,365 - 570,365 Investment Securities Available 461,646 ) 416,745 - 416,745 Investment Securities Held to Maturity (fair value of $ 623,628 ) 676,178 - 676,178 Other Equity Securities 1,349 - 1,349 1,094,272 - 1,094,272 Loans Held For Sale 50,304 (27,142) 23,162 Loans, Net of Unearned Income 2,346,185 23,600 2,369,785 Allowance for Loan Losses (22,510) (237) (22,747) Loans, Net 2,323,675 23,363 2,347,038 Premises and Equipment, Net 81,736 - 81,736 Goodwill 93,133 - 93,133 Other Real Estate Owned 13 - 13 Other Assets 119,173 (901) 118,272 Total Assets $ 4,332,671 $ (4,680) $ 4,327,991 LIABILITIES Deposits: Noninterest Bearing Deposits $ 1,737,046 $ - $ 1,737,046 Interest Bearing Deposits 2,022,332 - 2,022,332 Total Deposits 3,759,378 - 3,759,378 Short-Term 52,271 - 52,271 Subordinated Notes Payable 52,887 - 52,887 Other Long-Term 562 - 562 Other Liabilities 84,657 - 84,657 Total Liabilities 3,949,755 - 3,949,755 Temporary Equity 9,751 - 9,751 SHAREOWNERS' EQUITY Preferred Stock: $ .01 3,000,000 no - - - Common Stock, $ .01 90,000,000 16,961,812 170 - 170 Additional Paid-In Capital 36,234 - 36,234 Retained Earnings 384,964 (4,680) 380,284 Accumulated Other Comprehensive Loss, Net of Tax (48,203) - (48,203) Total Shareowners' Equity 373,165 (4,680) 368,485 $ 4,332,671 $ (4,680) $ 4,327,991 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Three Months Ended March 31, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 22,133 $ 296 $ 22,429 Taxable Securities 2,890 - 2,890 Tax Exempt Securities 6 - 6 Funds Sold 409 - 409 Total Interest Income 25,438 296 25,734 INTEREST EXPENSE Deposits 224 - 224 Short-Term 192 - 192 Subordinated Notes Payable 317 - 317 Other Long-Term 9 - 9 Total Interest Expense 742 - 742 Net Interest Income 24,696 296 24,992 Provision for Loan Losses - 32 32 Net Interest Income After Provision For Loan Losses 24,696 264 24,960 NONINTEREST INCOME Deposit Fees 5,191 - 5,191 Bank Card Fees 3,763 - 3,763 Wealth Management 6,070 - 6,070 Mortgage Banking Fees 8,946 (4,891) 4,055 Other 1,848 (115) 1,733 Total Noninterest 25,818 (5,006) 20,812 NONINTEREST EXPENSE Compensation 24,856 (2,558) 22,298 Occupancy, Net 6,093 - 6,093 Other Real Estate, Net 25 - 25 Pension Settlement 209 - 209 Other 8,050 (152) 7,898 Total Noninterest 39,233 (2,710) 36,523 INCOME BEFORE INCOME TAXES 11,281 (2,032) 9,249 Income Tax Expense 2,235 (515) 1,720 NET INCOME 9,046 (1,517) 7,529 Pre-Tax Income (591) - (591) NET INCOME ATTRIBUTABLE $ 8,455 $ (1,517) $ 6,938 BASIC NET INCOME PER SHARE $ 0.50 $ (0.09) $ 0.41 DILUTED NET INCOME PER SHARE $ 0.50 $ (0.09) $ 0.41 AVERAGE Basic 16,931 - 16,931 Diluted 16,946 - 16,946 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Three Months Ended June 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 24,072 $ 196 $ 24,268 Taxable Securities 3,833 - 3,833 Tax Exempt Securities 7 - 7 Funds Sold 1,408 - 1,408 Total Interest Income 29,320 196 29,516 INTEREST EXPENSE Deposits 266 - 266 Short-Term 343 - 343 Subordinated Notes Payable 370 - 370 Other Long-Term 8 - 8 Total Interest Expense 987 - 987 Net Interest Income 28,333 196 28,529 Provision for Loan Losses 1,542 150 1,692 Net Interest Income After Provision For Loan Losses 26,791 46 26,837 NONINTEREST INCOME Deposit Fees 5,447 - 5,447 Bank Card Fees 4,034 - 4,034 Wealth Management 4,403 - 4,403 Mortgage Banking Fees 9,065 (4,208) 4,857 Other 1,954 (131) 1,823 Total Noninterest 24,903 (4,339) 20,564 NONINTEREST EXPENSE Compensation 25,383 (2,161) 23,222 Occupancy, Net 6,075 - 6,075 Other Real Estate, Net (29) - (29) Pension Settlement 169 - 169 Other 8,900 (187) 8,713 Total Noninterest 40,498 (2,348) 38,150 INCOME BEFORE INCOME TAXES 11,196 (1,945) 9,251 Income Tax Expense 2,177 (492) 1,685 NET INCOME 9,019 (1,453) 7,566 Pre-Tax Income (306) - (306) NET INCOME ATTRIBUTABLE $ 8,713 $ (1,453) $ 7,260 BASIC NET INCOME PER SHARE $ 0.51 $ (0.08) $ 0.43 DILUTED NET INCOME PER SHARE $ 0.51 $ (0.08) $ 0.43 AVERAGE Basic 16,949 - 16,949 Diluted 16,971 - 16,971 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Six Months Ended June 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 46,205 $ 492 $ 46,697 Taxable Securities 6,723 - 6,723 Tax Exempt Securities 13 - 13 Funds Sold 1,817 - 1,817 Total Interest Income 54,758 492 55,250 INTEREST EXPENSE Deposits 490 - 490 Short-Term 535 - 535 Subordinated Notes Payable 687 - 687 Other Long-Term 17 - 17 Total Interest Expense 1,729 - 1,729 Net Interest Income 53,029 492 53,521 Provision for Loan Losses 1,542 182 1,724 Net Interest Income After Provision For Loan Losses 51,487 310 51,797 NONINTEREST INCOME Deposit Fees 10,638 - 10,638 Bank Card Fees 7,797 - 7,797 Wealth Management 10,473 - 10,473 Mortgage Banking Fees 18,011 (9,099) 8,912 Other 3,802 (246) 3,556 Total Noninterest 50,721 (9,345) 41,376 NONINTEREST EXPENSE Compensation 50,239 (4,719) 45,520 Occupancy, Net 12,168 - 12,168 Other 17,324 (339) 16,985 Total Noninterest 79,731 (5,058) 74,673 INCOME BEFORE INCOME TAXES 22,477 (3,977) 18,500 Income Tax Expense 4,412 (1,007) 3,405 NET INCOME 18,065 (2,970) 15,095 Pre-Tax Income (897) - (897) NET INCOME ATTRIBUTABLE $ 17,168 $ (2,970) $ 14,198 BASIC NET INCOME PER SHARE $ 1.01 $ (0.17) $ 0.84 DILUTED NET INCOME PER SHARE $ 1.01 $ (0.17) $ 0.84 AVERAGE Basic 16,940 - 16,940 Diluted 16,958 - 16,958 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Three Months Ended September 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 27,761 $ 78 $ 27,839 Taxable Securities 4,360 - 4,360 Tax Exempt Securities 12 - 12 Funds Sold 3,231 - 3,231 Total Interest Income 35,364 78 35,442 INTEREST EXPENSE Deposits 1,052 - 1,052 Short-Term 536 - 536 Subordinated Notes Payable 443 - 443 Other Long-Term 6 - 6 Total Interest Expense 2,037 - 2,037 Net Interest Income 33,327 78 33,405 Provision for Loan Losses 2,099 55 2,154 Net Interest Income After Provision For Loan Losses 31,228 23 31,251 NONINTEREST INCOME Deposit Fees 5,947 - 5,947 Bank Card Fees 3,860 - 3,860 Wealth Management 3,937 - 3,937 Mortgage Banking Fees 7,116 (4,221) 2,895 Other 2,074 (204) 1,870 Total Noninterest 22,934 (4,425) 18,509 NONINTEREST EXPENSE Compensation 24,738 (1,771) 22,967 Occupancy, Net 6,153 - 6,153 Other 8,919 (340) 8,579 Total Noninterest 39,810 (2,111) 37,699 INCOME BEFORE INCOME TAXES 14,352 (2,291) 12,061 Income Tax Expense 3,074 (581) 2,493 NET INCOME 11,278 (1,710) 9,568 Pre-Tax Income 37 - 37 NET INCOME ATTRIBUTABLE $ 11,315 $ (1,710) $ 9,605 BASIC NET INCOME PER SHARE $ 0.67 $ (0.10) $ 0.57 DILUTED NET INCOME PER SHARE $ 0.67 $ (0.10) $ 0.57 AVERAGE Basic 16,960 - 16,960 Diluted 16,996 - 16,996 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Nine Months Ended September 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 73,966 $ 570 $ 74,536 Taxable Securities 11,083 - 11,083 Tax Exempt Securities 25 - 25 Funds Sold 5,048 - 5,048 Total Interest Income 90,122 570 90,692 INTEREST EXPENSE Deposits 1,542 - 1,542 Short-Term 1,071 - 1,071 Subordinated Notes Payable 1,130 - 1,130 Other Long-Term 23 - 23 Total Interest Expense 3,766 - 3,766 Net Interest Income 86,356 570 86,926 Provision for Loan Losses 3,641 237 3,878 Net Interest Income After Provision For Loan Losses 82,715 333 83,048 NONINTEREST INCOME Deposit Fees 16,585 - 16,585 Bank Card Fees 11,657 - 11,657 Wealth Management 14,410 - 14,410 Mortgage Banking Fees 25,127 (13,320) 11,807 Other 5,876 (450) 5,426 Total Noninterest 73,655 (13,770) 59,885 NONINTEREST EXPENSE Compensation 74,977 (6,490) 68,487 Occupancy, Net 18,321 - 18,321 Other 26,243 (679) 25,564 Total Noninterest 119,541 (7,169) 112,372 INCOME BEFORE INCOME TAXES 36,829 (6,268) 30,561 Income Tax Expense 7,486 (1,588) 5,898 NET INCOME 29,343 (4,680) 24,663 Pre-Tax Income (860) - (860) NET INCOME ATTRIBUTABLE $ 28,483 $ (4,680) $ 23,803 BASIC NET INCOME PER SHARE $ 1.68 $ (0.28) $ 1.40 DILUTED NET INCOME PER SHARE $ 1.68 $ (0.28) $ 1.40 AVERAGE Basic 16,947 - 16,947 Diluted 16,973 - 16,973 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Three Months Ended March 31, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 8,455 $ (1,517) $ 6,938 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (25,445) - (25,445) Derivative: Change in net unrealized gain on effective cash flow 1,836 - 1,836 Benefit Plans: Defined benefit plan settlement 209 - 209 209 - 209 Other comprehensive income (loss), before (23,400) - (23,400) Deferred tax (benefit) expense related to other comprehensive income (5,871) - (5,871) Other comprehensive income (loss), net of tax (17,529) - (17,529) TOTAL COMPREHENSIVE $ (9,074) $ (1,517) $ (10,591) CAPITAL CITY BANK CONSOLIDATED STATEMENT For Three Months Ended June 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 8,713 $ (1,453) $ 7,260 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (10,714) - (10,714) Derivative: Change in net unrealized gain on effective cash flow 1,161 - 1,161 Benefit Plans: Defined benefit plan settlement 169 - 169 169 - 169 Other comprehensive income (loss), before (9,384) - (9,384) Deferred tax (benefit) expense related to other comprehensive income (2,362) - (2,362) Other comprehensive income (loss), net of tax (7,022) - (7,022) TOTAL COMPREHENSIVE $ 1,691 $ (1,453) $ 238 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Six Months Ended June 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 17,168 $ (2,970) $ 14,198 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (36,158) - (36,158) Derivative: Change in net unrealized gain on effective cash flow 2,997 - 2,997 Benefit Plans: Defined benefit plan settlement 378 - 378 378 - 378 Other comprehensive income (loss), before (32,783) - (32,783) Deferred tax (benefit) expense related to other comprehensive income (8,232) - (8,232) Other comprehensive income (loss), net of tax (24,551) - (24,551) TOTAL COMPREHENSIVE $ (7,383) $ (2,970) $ (10,353) CAPITAL CITY BANK CONSOLIDATED STATEMENT For Three Months Ended September 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 11,315 $ (1,710) $ 9,605 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (2,618) - (2,618) Unrealized losses on securities transferred from available for sale to held maturity (9,384) - (9,384) Amortization of unrealized losses on securities transferred from available sale to held to maturity 586 - 586 Derivative: Change in net unrealized gain on effective cash flow 1,407 - 1,407 Benefit Plans: Defined benefit plan settlement 102 - 102 102 - 102 Other comprehensive income (loss), before (9,907) - (9,907) Deferred tax (benefit) expense related to other comprehensive income (2,469) - (2,469) Other comprehensive income (loss), net of tax (7,438) - (7,438) TOTAL COMPREHENSIVE $ 3,877 $ (1,710) $ 2,167 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Nine Months Ended September 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 28,483 $ (4,680) $ 23,803 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (38,778) - (38,778) Unrealized losses on securities transferred from available for sale to held maturity (9,384) - (9,384) Amortization of unrealized losses on securities transferred from available sale to held to maturity 586 - 586 Derivative: Change in net unrealized gain on effective cash flow 4,403 - 4,403 Benefit Plans: Defined benefit plan settlement 480 - 480 480 - 480 Other comprehensive income (loss), before (42,693) - (42,693) Deferred tax expense (benefit) related to other comprehensive income 10,704 - 10,704 Other comprehensive income (loss), net of tax (31,989) - (31,989) TOTAL COMPREHENSIVE $ (3,506) $ (4,680) $ (8,186) CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, January 1, 2022, as previously reported 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income Attributable to Common Shareowners - - - 8,455 - 8,455 Other Comprehensive Loss, Net of Tax - - - - (17,529) (17,529) Cash Dividends ($ 0.16 - - - (2,712) - (2,712) Stock Based Compensation - - 245 - - 245 Stock Compensation Plan Transactions, net 55,542 - 520 - - 520 Balance, March 31, 2022, as previously reported 16,947,602 169 35,188 370,531 (33,743) 372,145 Restatement Impacts Net Income Attributable to Common Shareowners - - - (1,517) - (1,517) Balance, March 31, 2022 - - - (1,517) - (1,517) As Restated Balance, January 1, 2022, as restated 16,892,060 169 34,423 364,788 (16,214) 383,166 Net Income Attributable to Common Shareowners - - - 6,938 - 6,938 Other Comprehensive Loss, Net of Tax - - - (17,529) (17,529) Cash Dividends ($ 0.16 - - - (2,712) - (2,712) Stock Based Compensation - - 245 - - 245 Stock Compensation Plan Transactions, net 55,542 - 520 - - 520 Balance, March 31, 2022, as restated 16,947,602 $ 169 $ 35,188 $ 369,014 $ (33,743) $ 370,628 CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, April 1, 2022, as previously reported 16,947,602 $ 169 $ 35,188 $ 370,531 $ (33,743) $ 372,145 Net Income Attributable to Common Shareowners - - - 8,713 - 8,713 Other Comprehensive Loss, Net of Tax - - - (7,022) (7,022) Cash Dividends ($ 0.16 - - - (2,712) - (2,712) Stock Based Compensation - - 244 - - 244 Stock Compensation Plan Transactions, net 11,678 1 306 - - 307 Balance, June 30, 2022, as previously reported 16,959,280 170 35,738 376,532 (40,765) 371,675 Restatement Impacts Balance, April 1, 2022 - - - (1,517) - (1,517) Net Income Attributable to Common Shareowners - - - (1,453) - (1,453) Balance, June 30, 2022 - - - (2,970) - (2,970) As Restated Balance, April 1, 2022, as restated 16,947,602 169 35,188 369,014 (33,743) 370,628 Net Income Attributable to Common Shareowners - - - 7,260 - 7,260 Other Comprehensive Loss, Net of Tax - - - - (7,022) (7,022) Cash Dividends ($ 0.16 - - - (2,712) - (2,712) Stock Based Compensation - - 244 - - 244 Stock Compensation Plan Transactions, net 11,678 1 306 - - 307 Balance, June 30, 2022, as restated 16,959,280 $ 170 $ 35,738 $ 373,562 $ (40,765) $ 368,705 CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, January 1, 2022, as previously reported 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income Attributable to Common Shareowners - - - 17,168 - 17,168 Other Comprehensive Loss, Net of Tax - - - - (24,551) (24,551) Cash Dividends ($ 0.32 - - - (5,424) - (5,424) Stock Based Compensation - - 489 - - 489 Stock Compensation Plan Transactions, net 67,220 1 826 - - 827 Balance, June 30, 2022, as previously reported 16,959,280 170 35,738 376,532 (40,765) 371,675 Restatement Impacts Net Income Attributable to Common Shareowners - - - (2,970) - (2,970) Balance, June 30, 2022 - - - (2,970) (2,970) As Restated Balance, January 1, 2022, as restated 16,892,060 169 34,423 364,788 (16,214) 383,166 Net Income Attributable to Common Shareowners - - - 14,198 - 14,198 Other Comprehensive Loss, Net of Tax - - - (24,551) (24,551) Cash Dividends ($ 0.32 - - - (5,424) - (5,424) Stock Based Compensation - - 489 - - 489 Stock Compensation Plan Transactions, net 67,220 1 826 - - 827 Balance, June 30, 2022, as restated 16,959,280 $ 170 $ 35,738 $ 373,562 $ (40,765) $ 368,705 CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, July 1, 2022, as previously reported 16,959,280 $ 170 $ 35,738 $ 376,532 $ (40,765) $ 371,675 Net Income Attributable to Common Shareowners - - - 11,315 - 11,315 Other Comprehensive Loss, Net of Tax - - - - (7,438) (7,438) Cash Dividends ($ 0.16 - - - (2,883) - (2,883) Stock Based Compensation - - 415 - - 415 Stock Compensation Plan Transactions, net 2,532 - 81 - - 81 Balance, September 30, 2022, as previously reported 16,961,812 170 36,234 384,964 (48,203) 373,165 Restatement Impacts Balance, July 1, 2022 - - - (2,970) - (2,970) Net Income Attributable to Common Shareowners - - - (1,710) - (1,710) Balance, September 30, 2022 - - - (4,680) - (4,680) As Restated Balance, July 1, 2022, as restated 16,959,280 170 35,738 373,562 (40,765) 368,705 Net Income Attributable to Common Shareowners - - - 9,605 - 9,605 Other Comprehensive Loss, Net of Tax - - - - (7,438) (7,438) Cash Dividends ($ 0.16 - - - (2,883) - (2,883) Stock Based Compensation - - 415 - - 415 Stock Compensation Plan Transactions, net 2,532 - 81 - - 81 Balance, September 30, 2022, as restated 16,961,812 $ 170 $ 36,234 $ 380,284 $ (48,203) $ 368,485 CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, January 1, 2022, as previously reported 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income Attributable to Common Shareowners - - - 28,483 - 28,483 Other Comprehensive Loss, Net of Tax - - - - (31,989) (31,989) Cash Dividends ($ 0.49 - - - (8,307) - (8,307) Stock Based Compensation - - 904 - - 904 Stock Compensation Plan Transactions, net 69,752 1 907 - - 908 Balance, September 30, 2022, as previously reported 16,961,812 170 36,234 384,964 (48,203) 373,165 Restatement Impacts Net Income Attributable to Common Shareowners - - - (4,680) - (4,680) Balance, September 30, 2022 - - - (4,680) (4,680) As Restated Balance, January 1, 2022, as restated 16,892,060 169 34,423 364,788 (16,214) 383,166 Net Income Attributable to Common Shareowners - - - 23,803 - 23,803 Other Comprehensive Loss, Net of Tax - - - - (31,989) (31,989) Cash Dividends ($ 0.49 - - - (8,307) - (8,307) Stock Based Compensation - - 904 - - 904 Stock Compensation Plan Transactions, net 69,752 1 907 - - 908 Balance, September 30, 2022, as restated 16,961,812 $ 170 $ 36,234 $ 380,284 $ (48,203) $ 368,485 CAPITAL CITY BANK CONSOLIDATED STATEMENT For the Three Months Ended March 31, 2022 (Dollars in Thousands) As Previously Reported Restatement Impact As Restated CASH FLOWS FROM OPERATING Net Income $ 8,455 $ (1,517) $ 6,938 Adjustments to Reconcile Net Income to - 32 32 1,907 - 1,907 2,907 (297) 2,610 40 - 40 209 - 209 (246,887) 4,634 (242,253) 257,550 (4,966) 252,584 (8,946) 4,891 (4,055) 227 137 364 245 - 245 (19) - (19) (6,167) (515) (6,682) (27) - (27) 1,441 456 1,897 7,036 - 7,036 Net Cash Provided (Used In) By Operating Activities 17,971 2,855 20,826 CASH FLOWS FROM INVESTING ACTIVITIES Securities Held to Maturity: (194,448) - (194,448) 14,441 - 14,441 Securities Available for (25,139) - (25,139) 3,365 - 3,365 24,824 - 24,824 Purchases of Loans Held for Investment (26,713) - (26,713) Net (Increase) Decrease in Loans (28,405) (2,855) (31,260) Purchases of Premises and Equipment, net (1,013) - (1,013) Noncontrolling Interest Contributions 1,8 |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
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 wholly-owned subsidiary, “Company”), with banking offices located in Florida, financial institutions, is subject to regulation by certain government regulatory authorities. |
Basis of Presentation | Basis of Presentation The consolidated financial statements include the accounts of CCBG Capital City Strategic Wealth, Company and Capital City Investments. CCB also maintains a 51 % membership interest in a consolidated subsidiary, Home Loans, LLC (“CCHL”). The Company, which operates 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, CCSW acquired Group, LLC and certain related businesses (“SWG”), including advisory, assignment of all related revenues thereof. Under the terms of the purchase agreement, and will continue the operation of their five offices in South Georgia risk management and asset protection services for individuals and businesses. CCBG paid $ 4.5 recorded goodwill of $ 2.8 1.6 On March 1, 2020, CCB completed its acquisition of a 51 % membership interest in Brand Mortgage Group, LLC (“Brand”), which is now operated as CCHL. acquired totaled $ 52 42 primarily of warehouse line borrowings). access to an expanded residential mortgage product line-up and investor sales), to hedge our net interest income business and to generate other operational 7.1 million cash payment for its 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 with this acquisition. team and expertise in the mortgage industry, strategic alliance. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements Since 2019, the Company has adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic Losses on Financial Instruments, ASU 2019-12 “ Income Taxes (Topic 2020-01 “ Investments – Equity Securities (Topic ASU 2020-04 “ Reference Rate Reform (Topic ASU 2020-08 “ Codification Improvements to Subtopic 310-20, Nonrefundable Fees and Other Costs”, and ASU 2020-09 “ Debt (Topic Release No. 33-10762” . |
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 warehouse 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. for-sale (“AFS”) and carried at fair value. classified as equity securities that do not have readily determinable fair when impaired or upon observable transaction prices. time of purchase. security which correlates to its risk profile: U.S. government treasury, mortgage-backed securities, the Federal Reserve Bank and the Federal Home Loan Bank, are classified as available 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 for credit 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 90 days 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 credit loss through 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 credit management considers the extent to which fair value is less than amortized rating agency, and adverse credit loss exists, the present value of cash flows to be collected from the security are compared security. an allowance for credit losses is recorded through a provision for than the amortized cost basis. Allowance for Credit Losses - Held-to-Maturity Securities. Management measures expected credit losses on each individual held-to-maturity debt security a zero assumption. value, or the difference between the discounted value of recorded amortized basis of the security. through a provision for credit loss expense. |
Loans Held for Investment | Loans Held for Investment Loans held for investment (“HFI”) are stated at amortized cost which includes the 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 a contractual maturity accrual of interest is generally suspended on loans more than 90 days past due placed on nonaccrual status, all previously accrued and uncollected interest 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 investor 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 Uniform classification and treatment of consumer loans, which generally require The Company has adopted comprehensive lending policies, underwriting 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 Risk Oversight 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 the 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 balance aggregate of amounts previously charged-off off-balance sheet credit exposures is provided for through the credit Management estimates the allowance balance using relevant available past events, current conditions, and reasonable and supportable forecasts. basis for the estimation of expected credit losses. current conditions and forecasts. The methodology for estimating the amount of credit losses reported in the first, an asset-specific component involving loans that do not share risk characteristics losses for such individual loans; and second, a pooled component for expected 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 analyzed to dependent when the borrower is experiencing financial difficulty sale of the underlying collateral. measured based on the difference between the fair asset. by Financial Accounting Standards Board (“FASB”) expected credit loss under the same approach as those loans where foreclosure $250,000, balances less than $250,000, the Company has made a policy election to measure expected loss rates for similar loan types. restructurings. Loans That Share Similar Risk Characteristics (Pooled The general steps in determining expected credit losses for the pooled loan component ● 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 methodology is utilized to calculate expected discounted present value of expected cash flow is then compared to 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 of forecasted 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 forecast adjustment over the reversion period. Loss rates are further adjusted to account for other risk factors that impact loan defaults 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/political 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 same outstanding loan balances by segment. the allowance for credit losses with similar risk characteristics that have been previously |
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 to investors is calculated using observable market information such mandatory delivery commitment prices. The Company bases loans committed (“FNMA”), Government National Mortgage Association (“GNMA”), and (“FHLMC”) (“Agency”) investors based on the Agency’s mortgage loans held for sale not committed to investors is based on quoted best execution quoted price exists, the fair value is determined using quoted prices for the specific attributes of that loan, which would be used by other market Gains and losses from the sale of mortgage loans held for sale are recognized based upon 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 with servicing retained, the on the Consolidated Statements of Income. with the changes in the fair value of mortgage loans held for sale, and the realized and 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 that 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 individual delinquent mortgage loans that meet certain criteria from servicing. for an amount equal to 100 percent of the remaining principal balance of Servicing,” this buy-back option is considered a conditional option until becomes unconditional. unconditional buy-back option, the loans can no longer be reported Statement of Financial Condition, regardless of whether there is intent to exercise in other assets with the offsetting liability being reported Derivative Instruments (IRLC/Forward Commitments) The Company holds and issues derivative financial instruments such as interest rate forward sale commitments. IRLCs are subject to price risk primarily related interest rate risk on certain IRLCs, the Company uses forward sale commitments, mandatory delivery commitments with investors. Management expects fair value opposite to the changes in fair value of the IRLCs thereby reducing also used to hedge the interest rate risk on mortgage loans held for sale that are not price risk. If the mandatory delivery commitments are not fulfilled, the Company 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. recognized in mortgage banking revenues on the Consolidated Statements losses resulting from the pairing-out of forward sale commitments are recognized 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 may 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 method. (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 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 | 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 three 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 and is reclassified during which the hedged transaction affects earnings. For not highly effective in hedging the changes in fair value or expected current earnings. Net cash settlements on derivatives that qualify for hedge 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 the Condition or to specific firm commitments or forecasted transactions. The Company inception and on an ongoing basis, whether the derivative instruments that are used fair values or cash flows of the hedged items. The Company discontinues hedge is no longer effective in offsetting changes in the terminates, a hedged forecasted transaction is no longer probable, a hedged derivative as a hedge is no longer appropriate or intended. When hedge accounting value of the derivative are recorded as non-interest income. When a fair is no longer adjusted for changes in fair value and the existing basis adjustment is amortized the asset or liability. When expected to occur, gains or losses that were accumulated same periods, in which 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 their 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. measured at (i) the initial measurement of the lease liability; (ii) any lease payments made commencement date less any lease incentives received; and (iii) any initial direct initial term of 12 months or less are not recorded on the Consolidated Statement leases, lease expense is recognized on a straight-line basis over the lease term. leases. |
Bank Owned Life Insurance | Bank Owned Life Insurance The Company, through insurance is recorded at the amount that can be realized under the insurance contract 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 estimated. 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 the 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 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 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, in the funded status of defined benefit and supplemental executive retirement plans. accompanying Consolidated Statements of Comprehensive Income |
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 FASB ASC Topic about the nature, amount, timing and uncertainty of revenue and cash flows services to customers. The core principle requires an entity to recognize revenue customers in an amount that reflects the consideration that it expects to be entitled services recognized as performance obligations are satisfied. The majority of the Company’s revenue financial instruments, such as our loans, letters of credit, and investment securities, mortgages in the secondary market, as these activities are subject to other Company recognizes revenue from these activities as it is earned based on are provided and collectability is reasonably assured. scope of ASC 606, which are presented in the accompanying Consolidated income are as follows: Deposit Fees - these represent general service fees for monthly account maintenance 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 the Company’s month or quarter, which is the time that payment is received. 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 purchase volumes. 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 the carriers. sell life and health insurance policies to customers. or when an existing policy renews. New policies and renewals generally have insurance carriers, a commission rate is agreed upon. The commission is recognized 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 guidance determination of the amount and timing of revenue from the above-described |
Accounting standard updates | ASU 2022-02, “Financial Instruments – Credit Losses The amendments eliminate the accounting guidance for troubled debt and enhance the disclosure requirements for loan modifications and difficulty. investment in leases by year of origination in the vintage disclosures. beginning after December 15, 2022, including interim periods within those this guidance will not have a material impact on its consolidated financial |
Restatement of Previously Issued Consolidated Financial Statements | Restatement of Previously Issued Consolidated Financial We have restated restated interim financial statement periods for the each of the quarters 2022 and restated the impacted balances within the accompanying Restatement Background As part of the normal course of business, CCHL sold residential mortgage revenue and a mortgage servicing right on the aforementioned loans. for servicing these loans on behalf of CCB, which required elimination entries were not made, resulting in misstatements. As a result of this misstatement, assets are overstated 6.7 31, 2022 and net income is overstated by $ 6.7 0.15 % of previously reported total assets as of December 31, 2022 and 16.78 % of previously reported net income for the year ended December 31, 2022. As a result, diluted EPS decreased from $ 2.36 1.97 Description of Misstatements Misstatements Associated with Mortgage Loan Sale Transactions a) CCHL originated certain mortgage loans that were sold to the Bank for corresponding loan purchase premium recorded by the Bank should the Company did not defer net loan origination costs on these loans. The on sale of loan misstatements on each period are presented in this note and Note 24, Quarterly Financial Data (Unaudited) . b) Mortgage Servicing Right (“MSR”) Asset CCHL recorded an MSR asset and recognized a corresponding gain related serviced for the Bank. As the MSR asset is recorded at amortized cost, CCHL also recorded each period in other non-interest expense. The MSR asset, gain, and amortization in consolidation. The impacts of the MSR asset misstatements on each period Quarterly Financial Data (Unaudited) . c) Mortgage Servicing The Bank recorded servicing fee expense and CCHL recorded servicing eliminated in consolidation. The impacts of the mortgage servicing misstatements note and Note 24, Quarterly Financial Data (Unaudited) . d) Statement of Financial Condition Misclassification CCHL classifies all mortgage production as loans held for sale. The portion sold to the Bank should have been designated as loans held for investment This reclassification includes the reversal of the related mark-to-market Allowance for Credit Losses (“ACL”) on these loans. While previously the mark-to-market reversed and the ACL established at the time the loans were sold to the Bank, appropriate periods. The impacts of the restatement on each period Quarterly Financial Data (Unaudited) . Other Immaterial Adjustments As part of the restatement, we made corrections to the Consolidated determined to be immaterial, both individually and in the aggregate (the “Other Adjustments”). The Other Adjustments included corrections and reclassifications on December 31, 2022 that had no impact on shareowners’ equity. the misstatements associated with mortgage loan sale transactions noted Statement of Financial Condition to record net deferred fees and costs that 3.4 which represent the amount that should have been recorded in prior periods. Additionally, market and ACL adjustments that were related to the “Statement of resulted in less than a $ 156 156 The combined impacts of the correction of the misstatement associated with the Adjustments are reflected in the “restatement impacts” column of Quarterly Financial Data (Unaudited) . Description of Restatement Tables The following tables present the amounts previously reported and a reconciliation restated Consolidated Statement of Financial Condition as of December the restated Consolidated Statement of Comprehensive Income, ’ Equity and the restated Consolidated Statement of Cash Flows for the year ended reported for the year ended December 31, 2022 were derived from our Annual 31, 2022, originally filed March 1, 2023. CAPITAL CITY BANK CONSOLIDATED STATEMENT As of December 31, 2022 (Dollars in Thousands, except per share data) As Previously Reported Restatement Impact As Restated ASSETS: Cash and Due From Banks $ 72,114 $ - $ 72,114 Federal Funds Sold and Interest Bearing Deposits 528,536 - 528,536 Total Cash and Cash Equivalents 600,650 - 600,650 Investment Securities, Available $ 455,232 ) 413,294 - 413,294 Investment Securities Held to Maturity (fair value of $ 612,701 ) 660,744 - 660,744 Other Equity Securities 10 - 10 1,074,048 - 1,074,048 Loans Held For Sale 54,635 (27,726) 26,909 Loans, Net of Unearned Income 2,525,180 22,505 2,547,685 Allowance for Loan Losses (24,736) (332) (25,068) Loans, Net 2,500,444 22,173 2,522,617 Premises and Equipment, Net 82,138 - 82,138 Goodwill 93,093 - 93,093 Other Real Estate Owned 431 - 431 Other Assets 120,519 (1,182) 119,337 Total Assets $ 4,525,958 $ (6,735) $ 4,519,223 LIABILITIES Deposits: Noninterest Bearing Deposits $ 1,653,620 $ - $ 1,653,620 Interest Bearing Deposits 2,285,697 - 2,285,697 Total Deposits 3,939,317 - 3,939,317 Short-Term 56,793 - 56,793 Subordinated Notes Payable 52,887 - 52,887 Other Long-Term 513 - 513 Other Liabilities 73,675 - 73,675 Total Liabilities 4,123,185 - 4,123,185 Temporary Equity 8,757 - 8,757 SHAREOWNERS' EQUITY Preferred Stock, $ .01 3,000,000 no outstanding - - - Common Stock, $ .01 90,000,000 16,986,785 issued and outstanding at December 31, 2022 170 - 170 Additional Paid-In Capital 37,331 - 37,331 Retained Earnings 393,744 (6,735) 387,009 Accumulated Other Comprehensive Loss, Net of Tax (37,229) - (37,229) Total Shareowners' Equity 394,016 (6,735) 387,281 $ 4,525,958 $ (6,735) $ 4,519,223 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Year (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 105,882 $ 562 $ 106,444 Investment Securities: Taxable Securities 15,917 - 15,917 Tax Exempt Securities 38 - 38 Funds Sold 9,511 - 9,511 Total Interest Income 131,348 562 131,910 INTEREST EXPENSE Deposits 3,444 - 3,444 Short-Term 1,761 - 1,761 Subordinated Notes Payable 1,652 - 1,652 Other Long-Term 31 - 31 Total Interest Expense 6,888 - 6,888 Net Interest Income 124,460 562 125,022 Provision for Loan Losses 7,162 332 7,494 Net Interest Income After Provision For Loan Losses 117,298 230 117,528 NONINTEREST INCOME Deposit Fees 22,121 - 22,121 Bank Card Fees 15,401 - 15,401 Wealth Management 18,059 - 18,059 Mortgage Banking Fees 30,624 (18,715) 11,909 Other 8,422 (731) 7,691 Total Noninterest 94,627 (19,446) 75,181 NONINTEREST EXPENSE Compensation 100,542 (9,023) 91,519 Occupancy, Net 24,574 - 24,574 Other 36,712 (1,171) 35,541 Total Noninterest 161,828 (10,194) 151,634 INCOME BEFORE INCOME TAXES 50,097 (9,022) 41,075 Income Tax Expense 10,085 (2,287) 7,798 NET INCOME 40,012 (6,735) 33,277 Pre-Tax Income 135 - 135 NET INCOME ATTRIBUTABLE $ 40,147 $ (6,735) $ 33,412 BASIC NET INCOME PER SHARE $ 2.37 $ (0.40) $ 1.97 DILUTED NET INCOME PER SHARE $ 2.36 $ (0.39) $ 1.97 AVERAGE Basic 16,951 - 16,951 Diluted 16,985 - 16,985 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Year (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 40,147 $ (6,735) $ 33,412 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (35,814) - (35,814) Unrealized losses on securities transferred from available for sale to held maturity (9,384) - (9,384) Amortization of unrealized losses on securities transferred from available held to maturity 1,469 - 1,469 Total Investment (43,729) - (43,729) Derivative: Change in net unrealized gain on effective cash flow 4,146 - 4,146 Benefit Plans: Reclassification adjustment for amortization of prior service cost 292 - 292 Reclassification adjustment for amortization of net loss 4,752 - 4,752 Defined benefit plan settlement 2,321 - 2,321 Current year actuarial loss 4,223 - 4,223 11,588 - 11,588 Other comprehensive income (loss), before (27,995) - (27,995) Deferred tax expense (benefit) related to other comprehensive income 6,980 - 6,980 Other comprehensive income (loss), net of tax (21,015) - (21,015) TOTAL COMPREHENSIVE $ 19,132 $ (6,735) $ 12,397 CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, January 1, 2022, as previously reported 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income - - - 40,147 - 40,147 Other Comprehensive Loss, Net of Tax - - - - (21,015) (21,015) Cash Dividends ($ 0.66 - - - (11,191) - (11,191) - - 1,630 - - 1,630 94,725 1 1,278 - - 1,279 Balance, December 31, 2022, as previously reported 16,986,785 170 37,331 393,744 (37,229) 394,016 Restatement Impacts Net Income - - - (6,735) - (6,735) Balance, December 31, 2022 - - - (6,735) - (6,735) As Restated Balance, January 1, 2022, as restated 16,892,060 169 34,423 364,788 (16,214) 383,166 Net Income - - - 33,412 - 33,412 Other Comprehensive Loss, Net of Tax - - - - (21,015) (21,015) Cash Dividends ($ 0.66 - - - (11,191) - (11,191) - - 1,630 - - 1,630 94,725 1 1,278 - - 1,279 Balance, December 31, 2022, as restated 16,986,785 $ 170 $ 37,331 $ 387,009 $ (37,229) $ 387,281 CAPITAL CITY BANK CONSOLIDATED STATEMENT For the Year (Dollars in Thousands) As Previously Reported Restatement Impact As Restated CASH FLOWS FROM OPERATING Net Income Attributable to Common Shareowners $ 40,147 $ (6,735) $ 33,412 Adjustments to Reconcile Net Income to 7,162 332 7,494 7,596 - 7,596 8,333 (561) 7,772 160 - 160 2,321 - 2,321 (1,024,526) 28,214 (996,312) 1,053,047 (19,203) 1,033,844 (30,624) 18,715 (11,909) (2,742) 3,468 726 1,630 - 1,630 (27) - (27) (1,583) (2,287) (3,870) (108) - (108) (422) - (422) (8,636) - (8,636) 8,837 - 8,837 Net Cash Provided (Used In) By Operating Activities 60,565 21,943 82,508 CASH FLOWS FROM INVESTING ACTIVITIES Securities Held to Maturity: (219,865) - (219,865) 55,314 - 55,314 Securities Available for (52,238) - (52,238) 3,365 - 3,365 81,596 - 81,596 Purchase of loans held for investment (438,415) - (438,415) Net Increase in Loans Held for Investment (162,406) (21,943) (184,349) Proceeds From Sales of Other Real Estate Owned 2,406 - 2,406 Purchases of Premises and Equipment (6,322) - (6,322) Noncontrolling interest contributions received 2,867 - 2,867 Net Cash Used In Investing Activities (733,698) (21,943) (755,641) CASH FLOWS FROM FINANCING ACTIVITIES Net Increase in Deposits 226,455 - 226,455 Net (Decrease) Increase 22,114 - 22,114 Repayment of Other Long-Term (249) - (249) Dividends Paid (11,191) - (11,191) Issuance of Common Stock Under Compensation Plans 1,300 - 1,300 Net Cash Provided By Financing Activities 238,429 - 238,429 NET DECREASE IN CASH AND CASH EQUIVALENTS (434,704) - (434,704) Cash and Cash Equivalents at Beginning of Period 1,035,354 - 1,035,354 Cash and Cash Equivalents at End of Period $ 600,650 $ - $ 600,650 Supplemental Cash Flow Disclosures: $ 6,586 $ - $ 6,586 $ 7,466 $ - $ 7,466 Noncash Investing and Financing Activities: $ 2,398 $ - $ 2,398 The accompanying Notes to Consolidated Financial Statements are |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Schedule Of Restatement Impacts | CAPITAL CITY BANK CONSOLIDATED STATEMENT As of December 31, 2022 (Dollars in Thousands, except per share data) As Previously Reported Restatement Impact As Restated ASSETS: Cash and Due From Banks $ 72,114 $ - $ 72,114 Federal Funds Sold and Interest Bearing Deposits 528,536 - 528,536 Total Cash and Cash Equivalents 600,650 - 600,650 Investment Securities, Available $ 455,232 ) 413,294 - 413,294 Investment Securities Held to Maturity (fair value of $ 612,701 ) 660,744 - 660,744 Other Equity Securities 10 - 10 1,074,048 - 1,074,048 Loans Held For Sale 54,635 (27,726) 26,909 Loans, Net of Unearned Income 2,525,180 22,505 2,547,685 Allowance for Loan Losses (24,736) (332) (25,068) Loans, Net 2,500,444 22,173 2,522,617 Premises and Equipment, Net 82,138 - 82,138 Goodwill 93,093 - 93,093 Other Real Estate Owned 431 - 431 Other Assets 120,519 (1,182) 119,337 Total Assets $ 4,525,958 $ (6,735) $ 4,519,223 LIABILITIES Deposits: Noninterest Bearing Deposits $ 1,653,620 $ - $ 1,653,620 Interest Bearing Deposits 2,285,697 - 2,285,697 Total Deposits 3,939,317 - 3,939,317 Short-Term 56,793 - 56,793 Subordinated Notes Payable 52,887 - 52,887 Other Long-Term 513 - 513 Other Liabilities 73,675 - 73,675 Total Liabilities 4,123,185 - 4,123,185 Temporary Equity 8,757 - 8,757 SHAREOWNERS' EQUITY Preferred Stock, $ .01 3,000,000 no outstanding - - - Common Stock, $ .01 90,000,000 16,986,785 issued and outstanding at December 31, 2022 170 - 170 Additional Paid-In Capital 37,331 - 37,331 Retained Earnings 393,744 (6,735) 387,009 Accumulated Other Comprehensive Loss, Net of Tax (37,229) - (37,229) Total Shareowners' Equity 394,016 (6,735) 387,281 $ 4,525,958 $ (6,735) $ 4,519,223 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Year (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 105,882 $ 562 $ 106,444 Investment Securities: Taxable Securities 15,917 - 15,917 Tax Exempt Securities 38 - 38 Funds Sold 9,511 - 9,511 Total Interest Income 131,348 562 131,910 INTEREST EXPENSE Deposits 3,444 - 3,444 Short-Term 1,761 - 1,761 Subordinated Notes Payable 1,652 - 1,652 Other Long-Term 31 - 31 Total Interest Expense 6,888 - 6,888 Net Interest Income 124,460 562 125,022 Provision for Loan Losses 7,162 332 7,494 Net Interest Income After Provision For Loan Losses 117,298 230 117,528 NONINTEREST INCOME Deposit Fees 22,121 - 22,121 Bank Card Fees 15,401 - 15,401 Wealth Management 18,059 - 18,059 Mortgage Banking Fees 30,624 (18,715) 11,909 Other 8,422 (731) 7,691 Total Noninterest 94,627 (19,446) 75,181 NONINTEREST EXPENSE Compensation 100,542 (9,023) 91,519 Occupancy, Net 24,574 - 24,574 Other 36,712 (1,171) 35,541 Total Noninterest 161,828 (10,194) 151,634 INCOME BEFORE INCOME TAXES 50,097 (9,022) 41,075 Income Tax Expense 10,085 (2,287) 7,798 NET INCOME 40,012 (6,735) 33,277 Pre-Tax Income 135 - 135 NET INCOME ATTRIBUTABLE $ 40,147 $ (6,735) $ 33,412 BASIC NET INCOME PER SHARE $ 2.37 $ (0.40) $ 1.97 DILUTED NET INCOME PER SHARE $ 2.36 $ (0.39) $ 1.97 AVERAGE Basic 16,951 - 16,951 Diluted 16,985 - 16,985 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Year (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 40,147 $ (6,735) $ 33,412 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (35,814) - (35,814) Unrealized losses on securities transferred from available for sale to held maturity (9,384) - (9,384) Amortization of unrealized losses on securities transferred from available held to maturity 1,469 - 1,469 Total Investment (43,729) - (43,729) Derivative: Change in net unrealized gain on effective cash flow 4,146 - 4,146 Benefit Plans: Reclassification adjustment for amortization of prior service cost 292 - 292 Reclassification adjustment for amortization of net loss 4,752 - 4,752 Defined benefit plan settlement 2,321 - 2,321 Current year actuarial loss 4,223 - 4,223 11,588 - 11,588 Other comprehensive income (loss), before (27,995) - (27,995) Deferred tax expense (benefit) related to other comprehensive income 6,980 - 6,980 Other comprehensive income (loss), net of tax (21,015) - (21,015) TOTAL COMPREHENSIVE $ 19,132 $ (6,735) $ 12,397 CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, January 1, 2022, as previously reported 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income - - - 40,147 - 40,147 Other Comprehensive Loss, Net of Tax - - - - (21,015) (21,015) Cash Dividends ($ 0.66 - - - (11,191) - (11,191) - - 1,630 - - 1,630 94,725 1 1,278 - - 1,279 Balance, December 31, 2022, as previously reported 16,986,785 170 37,331 393,744 (37,229) 394,016 Restatement Impacts Net Income - - - (6,735) - (6,735) Balance, December 31, 2022 - - - (6,735) - (6,735) As Restated Balance, January 1, 2022, as restated 16,892,060 169 34,423 364,788 (16,214) 383,166 Net Income - - - 33,412 - 33,412 Other Comprehensive Loss, Net of Tax - - - - (21,015) (21,015) Cash Dividends ($ 0.66 - - - (11,191) - (11,191) - - 1,630 - - 1,630 94,725 1 1,278 - - 1,279 Balance, December 31, 2022, as restated 16,986,785 $ 170 $ 37,331 $ 387,009 $ (37,229) $ 387,281 CAPITAL CITY BANK CONSOLIDATED STATEMENT For the Year (Dollars in Thousands) As Previously Reported Restatement Impact As Restated CASH FLOWS FROM OPERATING Net Income Attributable to Common Shareowners $ 40,147 $ (6,735) $ 33,412 Adjustments to Reconcile Net Income to 7,162 332 7,494 7,596 - 7,596 8,333 (561) 7,772 160 - 160 2,321 - 2,321 (1,024,526) 28,214 (996,312) 1,053,047 (19,203) 1,033,844 (30,624) 18,715 (11,909) (2,742) 3,468 726 1,630 - 1,630 (27) - (27) (1,583) (2,287) (3,870) (108) - (108) (422) - (422) (8,636) - (8,636) 8,837 - 8,837 Net Cash Provided (Used In) By Operating Activities 60,565 21,943 82,508 CASH FLOWS FROM INVESTING ACTIVITIES Securities Held to Maturity: (219,865) - (219,865) 55,314 - 55,314 Securities Available for (52,238) - (52,238) 3,365 - 3,365 81,596 - 81,596 Purchase of loans held for investment (438,415) - (438,415) Net Increase in Loans Held for Investment (162,406) (21,943) (184,349) Proceeds From Sales of Other Real Estate Owned 2,406 - 2,406 Purchases of Premises and Equipment (6,322) - (6,322) Noncontrolling interest contributions received 2,867 - 2,867 Net Cash Used In Investing Activities (733,698) (21,943) (755,641) CASH FLOWS FROM FINANCING ACTIVITIES Net Increase in Deposits 226,455 - 226,455 Net (Decrease) Increase 22,114 - 22,114 Repayment of Other Long-Term (249) - (249) Dividends Paid (11,191) - (11,191) Issuance of Common Stock Under Compensation Plans 1,300 - 1,300 Net Cash Provided By Financing Activities 238,429 - 238,429 NET DECREASE IN CASH AND CASH EQUIVALENTS (434,704) - (434,704) Cash and Cash Equivalents at Beginning of Period 1,035,354 - 1,035,354 Cash and Cash Equivalents at End of Period $ 600,650 $ - $ 600,650 Supplemental Cash Flow Disclosures: $ 6,586 $ - $ 6,586 $ 7,466 $ - $ 7,466 Noncash Investing and Financing Activities: $ 2,398 $ - $ 2,398 The accompanying Notes to Consolidated Financial Statements are |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022 U.S. Government Treasury $ 23,977 $ 1 $ 1,928 $ - $ 22,050 U.S. Government Agency 198,888 27 12,863 - 186,052 States and Political Subdivisions 47,197 - 6,855 (13) 40,329 Mortgage-Backed Securities (1) 80,829 2 11,426 - 69,405 Corporate Debt Securities 97,119 19 8,874 (28) 88,236 Other Securities (2) 7,222 - - - 7,222 Total $ 455,232 $ 49 $ 41,946 $ (41) $ 413,294 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 (1) 89,440 27 598 - 88,869 Corporate Debt Securities 87,537 10 1,304 (21) 86,222 Other Securities (2) 7,094 - - - 7,094 Total $ 660,732 $ 1,375 $ 7,460 $ (36) $ 654,611 Held to Maturity Amortized Unrealized Unrealized Fair (Dollars in Thousands) Cost Gains Losses Value December 31, 2022 U.S. Government Treasury $ 457,374 $ - $ 25,641 $ 431,733 Mortgage-Backed Securities 203,370 8 22,410 180,968 Total $ 660,744 $ 8 $ 48,051 $ 612,701 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 (1) Comprised of residential mortgage-backed (2) Includes Federal Home Loan Bank and Federal Reserve Bank recorded 2.1 5.1 2.0 5.1 |
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 $ 47,408 $ 44,255 $ - $ - Due after one through five years 153,009 140,296 457,374 431,733 Due after five through ten years 51,785 42,566 - - Mortgage-Backed Securities 80,829 69,405 203,370 180,968 U.S. Government Agency 114,979 109,550 - - Other Securities 7,222 7,222 - - Total $ 455,232 $ 413,294 $ 660,744 $ 612,701 |
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, 2022 Available for U.S. Government Treasury $ 983 $ - $ 19,189 $ 1,928 $ 20,172 $ 1,928 U.S. Government Agency 63,112 2,572 113,004 10,291 176,116 12,863 States and Political Subdivisions 1,425 2 38,760 6,853 40,185 6,855 Mortgage-Backed Securities 6,594 959 60,458 10,467 67,052 11,426 Corporate Debt Securities 26,959 878 58,601 7,996 85,560 8,874 Total 99,073 4,411 290,012 37,535 389,085 41,946 Held to Maturity U.S. Government Treasury 177,552 11,018 254,181 14,623 431,733 25,641 Mortgage-Backed Securities 88,723 6,814 91,462 15,596 180,185 22,410 Total $ 266,275 $ 17,832 $ 345,643 $ 30,219 $ 611,918 $ 48,051 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 Equity 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 |
LOANS HELD FOR INVESTMENT AND_2
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Loans, net [Abstract] | |
Schedule of composition of the loan portfolio | (As Restated) (Dollars in Thousands) 2022 2021 Commercial, Financial and Agricultural $ 247,362 $ 223,086 Real Estate – Construction 234,519 174,394 Real Estate – Commercial Mortgage 782,557 663,550 Real Estate – Residential (1) 749,513 360,021 Real Estate – Home Equity 208,217 187,821 Consumer (2) 325,517 322,593 Loans Held for Investment, Net of Unearned Income $ 2,547,685 $ 1,931,465 (1) Includes loans in process with outstanding balances 6.1 13.6 (2) 1.1 1.1 |
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 2022 (As Restated) Beginning Balance $ 2,191 $ 3,302 $ 5,810 $ 4,129 $ 2,296 $ 3,878 $ 21,606 Restated) 316 (658) (746) 6,328 (422) 2,579 7,397 (1,308) - (355) - (193) (6,050) (7,906) 307 10 106 284 183 3,081 3,971 (1,001) 10 (249) 284 (10) (2,969) (3,935) Ending Balance (As Restated) $ 1,506 $ 2,654 $ 4,815 $ 10,741 $ 1,864 $ 3,488 $ 25,068 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 |
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 2022 (As Restated) Commercial, Financial and Agricultural $ 109 $ 126 $ - $ 235 $ 247,086 $ 41 $ 247,362 Real Estate – Construction 359 - - 359 234,143 17 234,519 Real Estate – Commercial Mortgage 158 149 - 307 781,605 645 782,557 Real Estate – Residential (1) 845 530 - 1,375 747,899 239 749,513 Real Estate – Home Equity - 35 - 35 207,411 771 208,217 Consumer 3,666 1,852 - 5,518 319,415 584 325,517 Total $ 5,137 $ 2,692 $ - $ 7,829 $ 2,537,559 $ 2,297 $ 2,547,685 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 |
Schedule of recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans | 2022 2021 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 $ - $ 41 $ - $ 67 $ 23 $ - Real Estate – Construction - 17 - - - - Real Estate – Commercial Mortgage 389 256 - - 604 - Real Estate – Residential - 239 - 928 1,169 - Real Estate – Home Equity - 771 - 463 856 - Consumer - 584 - - 212 - Total $ 389 $ 1,908 $ - $ 1,458 $ 2,864 $ - |
Amortized cost basis of collateral-dependent loans | 2022 2021 Real Estate Non Real Estate Real Estate Non Real Estate (Dollars in Thousands) Secured Secured Secured Secured Commercial, Financial and Agricultural $ - $ - $ - $ 67 Real Estate – Construction - - - - Real Estate – Commercial Mortgage 389 - 455 - Real Estate – Residential 160 - 1,645 - Real Estate – Home Equity 130 - 649 - Consumer 21 - - - Total $ 700 $ - $ 2,749 $ 67 |
Summary of gross loans held for investment by years of origination | Term Loans by Origination Year (As Restated) Revolving (As Restated) (Dollars in Thousands) 2022 2021 2020 2019 2018 Prior Loans Total Commercial, Financial, Agricultural: Pass $ 96,326 $ 43,584 $ 20,061 $ 14,744 $ 6,899 $ 11,970 $ 50,934 $ 244,518 Special Mention - 262 7 - 51 - 2,330 2,650 Substandard - - - - 13 133 48 194 Total $ 96,326 $ 43,846 $ 20,068 $ 14,744 $ 6,963 $ 12,103 $ 53,312 $ 247,362 Real Estate - Construction: Pass $ 141,784 $ 73,219 $ 11,928 $ 397 $ - $ 123 $ 4,431 $ 231,882 Special Mention - 716 384 832 - - - 1,932 Substandard 17 - 688 - - - - 705 Total $ 141,801 $ 73,935 $ 13,000 $ 1,229 $ - $ 123 $ 4,431 $ 234,519 Real Estate - Commercial Mortgage: Pass $ 243,818 $ 159,334 $ 131,131 $ 55,122 $ 51,864 $ 101,175 $ 20,575 $ 763,019 Special Mention 635 1,860 931 1,420 724 2,405 549 8,524 Substandard 9,115 - - 659 220 631 389 11,014 Total $ 253,568 $ 161,194 $ 132,062 $ 57,201 $ 52,808 $ 104,211 $ 21,513 $ 782,557 Real Estate - Residential: Pass $ 473,235 $ 97,083 $ 46,322 $ 29,179 $ 19,791 $ 65,071 $ 10,822 $ 741,503 Special Mention 94 360 533 - - 648 - 1,635 Substandard 560 766 1,034 913 714 2,388 - 6,375 Total $ 473,889 $ 98,209 $ 47,889 $ 30,092 $ 20,505 $ 68,107 $ 10,822 $ 749,513 Real Estate - Home Equity: Performing $ 149 $ 136 $ 12 $ 397 $ 147 $ 1,215 $ 205,390 $ 207,446 Nonperforming - - - 15 - 13 743 771 Total $ 149 136 12 412 147 1,228 206,133 208,217 Consumer: Performing $ 134,021 $ 111,762 $ 37,010 $ 21,065 $ 12,273 $ 3,739 $ 5,064 $ 324,934 Nonperforming 248 59 120 115 7 30 4 583 Total $ 134,269 $ 111,821 $ 37,130 $ 21,180 $ 12,280 $ 3,769 $ 5,068 $ 325,517 |
MORTGAGE BANKING ACTIVITIES (Ta
MORTGAGE BANKING ACTIVITIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Mortgage Banking Activities [Abstract] | |
Summary of unpaid principal balance of residential mortgage loans | (As Restated) December 31, 2022 December 31, 2021 Unpaid Principal Unpaid Principal (Dollars in Thousands) Balance/Notional Fair Value Balance/Notional Fair Value Residential Mortgage Loans Held for Sale $ 26,274 $ 26,909 $ 50,773 $ 52,532 Residential Mortgage Loan Commitments (1) 36,535 819 51,883 1,258 Forward Sales Contracts (2) 15,500 187 48,000 (7) $ 27,915 $ 53,783 (1) Recorded in other assets at fair value (2) Recorded in other assets and (other liabilities) |
Mortgage banking revenue | (Dollars in Thousands) (As Restated) 2022 2021 2020 Net realized gain on sales of mortgage loans $ 5,565 $ 49,355 $ 59,709 Net change in unrealized gain on mortgage loans held for sale (1,164) (2,410) 2,926 Net change in the fair value of mortgage loan commitments (439) (3,567) 2,625 Net change in the fair value of forward sales contracts 192 900 284 Pair-Offs on net settlement of forward 4,956 2,956 (9,602) Mortgage servicing rights additions 565 1,416 3,448 Net origination fees 2,234 3,775 3,954 Total mortgage banking $ 11,909 $ 52,425 $ 63,344 |
Summary of mortgage servicing rights | (As Restated) (Dollars in Thousands) 2022 2021 Number of residential mortgage loans serviced for others 1,769 2,106 Outstanding principal balance of residential mortgage loans serviced $ 410,740 $ 532,967 Weighted average 3.62% 3.59% Remaining contractual term (in months) 298 317 |
Activity in the capitalized mortgage servicing rights | (As Restated) (Dollars in Thousands) 2022 2021 2020 Beginning balance $ 3,774 $ 3,452 $ 910 Additions due to loans sold with servicing retained 565 1,416 3,448 Deletions and amortization (1,291) (1,344) (656) Valuation - 250 (250) Sale of Servicing Rights (1) (449) - - Ending balance $ 2,599 $ 3,774 $ 3,452 (1) The Company sold an MSR portfolio with an unpaid principal balance of $ 50 0.6 0.2 |
Key unobservable inputs used in determining the fair value of mortgage servicing rights | 2022 2021 Minimum Maximum Minimum Maximum Discount rates 9.50% 12.00% 11.00% 15.00% Annual prepayment speeds 12.33% 20.23% 11.98% 23.79% Cost of servicing (per loan) $ 85 95 $ 60 73 |
Warehouse Line Borrowings | Amounts (Dollars in Thousands) Outstanding $ 75 1.00% to plus 1.00% , with a floor rate of 3.25% . 0.5 $ 9,577 $ 75 December 2022 . 2.25% to 3.25% . 40,575 $ 50,152 |
DERIVATIVES (Tables)
DERIVATIVES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022 Other Assets $ 30,000 $ 6,195 7.5 December 31, 2021 Other Assets $ 30,000 $ 2,050 8.5 |
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, 2022 Interest Expense $ 4,625 $ 337 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, 2022 | |
Premises and equipment [Abstract] | |
Schedule of composition of premises and equipment | (Dollars in Thousands) 2022 2021 Land $ 22,847 $ 23,575 Buildings 109,849 110,503 Fixtures and Equipment 59,627 57,010 Total Premises and Equipment 192,323 191,088 Accumulated Depreciation (110,185) (107,676) Premises and Equipment, Net $ 82,138 $ 83,412 |
LEASES (Table)
LEASES (Table) | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Lease expense and other information related to the Company's operating leases | (Dollars in Thousands) 2022 2021 2020 Operating lease expense $ 1,719 $ 1,445 $ 1,018 Short-term lease expense 658 663 530 Total lease expense $ 2,377 $ 2,108 $ 1,548 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,937 $ 1,609 $ 1,174 Right-of-use assets obtained in exchange for new operating lease liabilities 12,475 784 11,101 Weighted-average 19.5 25.3 25.4 Weighted-average 3.1 % 2.0 % 2.1 % |
Maturity of remaining lease liabilities | The table below summarizes the maturity of remaining lease liabilities: (Dollars in Thousands) December 31, 2022 2022 $ 2,482 2023 2,307 2024 2,089 2025 2,013 2026 1,939 2027 and thereafter 18,922 Total $ 29,752 Less: Interest (7,086) Present Value $ 22,666 |
OTHER REAL ESTATE OWNED (Tables
OTHER REAL ESTATE OWNED (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Real Estate Owned [Abstract] | |
Schedule of other real estate owned activity | (Dollars in Thousands) 2022 2021 2020 Beginning Balance $ 17 $ 808 $ 953 Additions 2,398 1,717 2,297 Valuation (11) (31) (792) Sales (1,973) (2,809) (1,650) Other - 332 - Ending Balance $ 431 $ 17 $ 808 |
Schedule of net expenses | Net expenses applicable to other real estate owned for the three years ended December (Dollars in Thousands) 2022 2021 2020 Gains from the Sale of Properties $ (480) $ (1,711) $ (1,218) Losses from the Sale of Properties 47 18 33 Rental Income from Properties (21) - - Property Carrying Costs 106 174 497 Valuation 11 31 792 Total $ (337) $ (1,488) $ 104 |
DEPOSITS (Tables)
DEPOSITS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Regulatory matters [Abstract] | |
Schedule of Interest bearing deposits | (Dollars in Thousands) 2022 2021 NOW Accounts $ 1,290,494 $ 1,070,154 Money Market Accounts 267,383 274,611 Savings Deposits 637,374 599,811 Time Deposits 90,446 99,374 Total Interest Bearing $ 2,285,697 $ 2,043,950 |
Schedule of maturities of time deposits | (Dollars in Thousands) 2022 2023 $ 69,221 2024 10,284 2025 5,122 2026 1,737 2027 4,082 Total $ 90,446 |
Schedule of interest expense on deposits | Interest expense on deposits for the three years ended December 31, was as follows: (Dollars in Thousands) 2022 2021 2020 NOW Accounts $ 2,800 $ 294 $ 930 Money Market Accounts 203 134 223 Savings Deposits 309 263 207 Time Deposits < $250,000 129 145 179 Time Deposits > $250,000 3 3 9 Total Interest Expense $ 3,444 $ 839 $ 1,548 |
SHORT-TERM BORROWINGS (Tables)
SHORT-TERM BORROWINGS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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) 2022 Balance at December 31 $ - $ 6,582 $ 50,211 Maximum indebtedness at any month end - 9,452 50,211 Daily average indebtedness outstanding 2 8,095 32,386 Average rate paid 3.39 % 0.17 % 5.40 % Average rate paid - % 0.40 % 7.61 % 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 % (1) Balances are fully collateralized by government treasury or agency securities held in the Company's investment portfolio. (2) Comprised of FHLB advances totaling $ 0.1 50.1 |
LONG-TERM BORROWINGS (Tables)
LONG-TERM BORROWINGS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Long-term Borrowings [Abstract] | |
Schedule of minimum future principal payments on FHLB advances | (Dollars in Thousands) 2022 2023 $ 199 2024 198 2025 116 Total $ 513 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax [Abstract] | |
Schedule of provision for income taxes | 2022 (Dollars in Thousands) (As Restated) 2021 2020 Current: Federal $ 10,646 $ 12,039 $ 8,625 State 1,022 1,044 1,658 11,668 13,083 10,283 Deferred: Federal (2,994) (3,246) (143) State (899) (10) 130 Change in Valuation 23 8 (40) (3,870) (3,248) (53) Total: Federal 7,652 8,793 8,482 State 123 1,034 1,788 Change in Valuation 23 8 (40) Total $ 7,798 $ 9,835 $ 10,230 |
Schedule of effective income tax rate reconciliation | 2022 (Dollars in Thousands) (As Restated) 2021 2020 Tax Expense at Federal $ 8,625 $ 10,385 $ 11,106 Increases (Decreases) Resulting From: Tax-Exempt Interest (248) (271) (341) State Taxes, Net of Federal 94 819 1,413 Other (546) 375 601 Change in Valuation 23 8 (40) Tax-Exempt Cash Surrender (175) (173) (173) Noncontrolling Interest 25 (1,308) (2,336) Actual Tax Expense $ 7,798 $ 9,835 $ 10,230 |
Schedule of deferred income tax liabilities and assets | (As Restated) (Dollars in Thousands) 2022 2021 Deferred Tax Assets Attributable Allowance for Credit Losses $ 6,042 $ 5,308 Accrued Pension/SERP 1,530 4,468 State Net Operating Loss and Tax 1,920 1,984 Other Real Estate Owned 917 1,029 Accrued SERP Liability 3,246 2,442 Lease Liability 4,547 2,597 Net Unrealized Losses on Investment Securities 12,499 1,532 Other 3,043 2,325 Investment in Partnership 1,544 Total Deferred $ 35,288 $ 21,685 Deferred Tax Liabilities Depreciation on Premises and Equipment $ 3,382 $ 3,208 Deferred Loan Fees and Costs 2,372 2,016 Intangible Assets 3,310 3,276 Accrued Pension Liability 1,043 2,138 Right of Use Asset 4,474 2,453 Investments 469 469 Other 2,099 857 Total Deferred 17,149 14,417 Valuation 1,671 1,648 Net Deferred Tax Asset $ 16,468 $ 5,620 |
STOCK-BASED COMPENSATION (Table
STOCK-BASED COMPENSATION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Stock-Based Compensation [Abstract] | |
Schedule of stock purchase right estimated on the date of grant using weighted average assumption | 2022 2021 2020 Dividend yield 2.4 % 2.5 % 2.4 % Expected volatility 17.6 % 21.8 % 45.6 % Risk-free interest rate 1.4 % 0.1 % 0.9 % Expected life (in years) 0.5 0.5 0.5 |
EMPLOYEE BENEFIT PLANS (Tables)
EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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) 2022 2021 2020 Change in Projected Benefit Obligation: Benefit Obligation at Beginning of Year $ 172,508 $ 212,566 $ 180,830 Service Cost 6,289 6,971 5,828 Interest Cost 4,665 4,885 5,612 Actuarial (Gain) Loss (39,962) (14,934) 32,172 Benefits Paid (2,139) (2,087) (11,677) Expenses Paid (416) (259) (260) Settlements (32,794) (34,634) - Special/Contractual Termination - - 61 Projected Benefit Obligation at End of Year $ 108,151 $ 172,508 $ 212,566 Change in Plan Assets: Fair Value $ 165,274 $ 171,775 $ 161,646 Actual Return on Plan Assets (25,649) 30,479 17,066 Employer Contributions - - 5,000 Benefits Paid (2,139) (2,087) (11,677) Expenses Paid (416) (259) (260) Settlements (32,794) (34,634) - Fair Value $ 104,276 $ 165,274 $ 171,775 Funded Status of Plan and Accrued Liability Recognized at End of Year: Other Liabilities $ 3,875 $ 7,234 $ 40,791 Accumulated Benefit Obligation at End of Year $ 91,770 $ 149,569 $ 177,362 Components of Net Periodic Benefit Costs: Service Cost $ 6,289 $ 6,971 $ 5,828 Interest Cost 4,665 4,885 5,612 Expected Return on Plan Assets (10,701) (11,147) (10,993) Amortization of Prior Service Costs 15 15 15 Special/Contractual Termination - - 61 Net Loss Amortization 1,713 6,764 3,933 Net Loss Settlements 2,321 3,072 - Net Periodic Benefit Cost $ 4,302 $ 10,560 $ 4,456 Weighted-Average Discount Rate 5.63% 3.11% 2.88% Rate of Compensation Increase (1) 5.10% 4.40% 4.00% Measurement Date 12/31/22 12/31/21 12/31/20 Weighted-Average Discount Rate 3.11% 2.88% 3.53% Expected Return on Plan Assets 6.75% 6.75% 7.00% Rate of Compensation Increase (1) 4.40% 4.00% 4.00% Amortization Amounts from Accumulated Other Comprehensive Income: Net Actuarial Loss (Gain) $ (3,612) $ (34,265) $ 26,098 Prior Service Cost (15) (15) (15) Net Loss (4,034) (9,836) (3,933) Deferred Tax Expense 1,942 11,183 (5,615) Other Comprehensive Loss (Gain), net of tax $ (5,719) $ (32,933) $ 16,535 Amounts Recognized in Accumulated Other Comprehensive Income: Net Actuarial Losses $ 7,653 $ 15,300 $ 59,400 Prior Service Cost 5 20 35 Deferred Tax Benefit (1,941) (3,884) (15,066) Accumulated Other Comprehensive Loss, net of tax $ 5,717 $ 11,436 $ 44,369 (1) |
Schedule of pension plan asset allocation and the target asset allocation | Target Percentage of Plan Allocation Assets at December 31 (1) 2023 2022 2021 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) 2022 2021 Level 1: U.S. Treasury Securities $ 17,264 $ 200 Mutual Funds 81,231 156,726 Cash and Cash Equivalents 5,327 6,881 Level 2: U.S. Government Agency - 527 Corporate Notes/Bonds 454 940 Total Fair Value $ 104,276 $ 165,274 |
Schedule of expected benefit payments related to the defined benefit pension plan | Expected Benefit Payments. follows: (Dollars in Thousands) 2022 2023 $ 9,446 2024 8,896 2025 9,966 2026 9,638 2027 9,270 2028 through 2032 43,323 Total $ 90,539 |
Schedule of amounts contributed to the pension plan and the expected amount to be contributed | Expected Contribution (Dollars in Thousands) 2021 2022 2023 (1) Actual Contributions $ 5,000 $ - $ - 10,000 (1) |
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) 2022 2021 2020 Change in Projected Benefit Obligation: Benefit Obligation at Beginning of Year $ 13,534 $ 13,402 $ 10,244 Service Cost 31 35 31 Interest Cost 315 243 321 Actuarial (Gain) Loss (2,932) (146) 1,826 Plan Amendments - - 980 Projected Benefit Obligation at End of Year $ 10,948 $ 13,534 $ 13,402 Funded Status of Plan and Accrued Liability Recognized at End of Year: Other Liabilities $ 10,948 $ 13,534 $ 13,402 Accumulated Benefit Obligation at End of Year $ 10,887 $ 12,803 $ 12,339 Components of Net Periodic Benefit Costs: Service Cost $ 31 $ 35 $ 31 Interest Cost 315 243 321 Amortization of Prior Service Cost 277 277 327 Net Loss Amortization 718 970 503 Net Periodic Benefit Cost $ 1,341 $ 1,525 $ 1,182 Weighted-Average Discount Rate 5.45% 2.80% 2.38% Rate of Compensation Increase (1) 5.10% 4.40% 4.00% Measurement Date 12/31/22 12/31/21 12/31/20 Weighted-Average Discount Rate 2.80% 2.38% 3.16% Rate of Compensation Increase (1) 4.40% 4.00% 3.50% Amortization Amounts from Accumulated Other Comprehensive Income: Net Actuarial $ (2,932) $ (146) $ 1,826 Prior Service (Benefit) Cost (277) (219) 895 Net Loss (718) (970) (458) Deferred Tax Expense 995 154 (573) Other Comprehensive (Gain) Loss, net of tax $ (2,932) $ (1,181) $ 1,690 Amounts Recognized in Accumulated Other Comprehensive Income: Net Actuarial Loss $ (1,775) $ 1,875 $ 2,991 Prior Service Cost 151 429 895 Deferred Tax Benefit 412 (584) (985) Accumulated Other Comprehensive (Loss) Gain, net of tax $ (1,212) $ 1,720 $ 2,901 (1) |
Schedule of expected benefit payments related to the SERP | (Dollars in Thousands) 2022 2023 $ 9,182 2024 1,044 2025 18 2026 19 2027 20 2028 through 2032 261 Total $ 10,544 |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of computation of basic and diluted earnings per share | (As Restated) (Dollars and Per Share Data in Thousands) 2022 2021 2020 Numerator: Net Income Attributable to Common Shareowners $ 33,412 $ 33,396 $ 31,576 Denominator: Denominator for Basic Earnings Per Share Weighted 16,951 16,863 16,785 Effects of Dilutive Securities Stock Compensation 34 30 37 Denominator for Diluted Earnings Per Share Adjusted Weighted 16,985 16,893 16,822 Basic Earnings Per Share $ 1.97 $ 1.98 $ 1.88 Diluted Earnings Per Share $ 1.97 $ 1.98 $ 1.88 |
REGULATORY MATTERS (Tables)
REGULATORY MATTERS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2022 (As Restated) Common Equity Tier 1: CCBG $ 335,512 12.38% $ 121,918 4.50% * * CCB 358,882 13.25% 121,913 4.50% $ 176,096 6.50% Tier 1 Capital: CCBG 386,512 14.27% 162,557 6.00% * * CCB 358,882 13.25% 162,550 6.00% 216,733 8.00% Total Capital: CCBG 414,569 15.30% 216,743 8.00% * * CCB 386,067 14.25% 216,733 8.00% 270,917 10.00% Tier 1 Leverage: CCBG 386,512 8.91% 173,546 4.00% * * CCB 358,882 8.27% 173,505 4.00% 216,881 5.00% 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 Capital: 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% * |
ACCUMULATED OTHER COMPREHENSI_2
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022 $ (4,588) $ 1,530 $ (13,156) $ (16,214) Other comprehensive (loss) income during the period (32,761) 3,095 8,651 (21,015) Balance as of December 31, 2022 $ (37,349) $ 4,625 $ (4,505) $ (37,229) Balance as of January 1, 2021 $ 2,700 $ 428 $ (47,270) $ (44,142) Other comprehensive income (loss) 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) |
OTHER NONINTEREST EXPENSE (Tabl
OTHER NONINTEREST EXPENSE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Noninterest Expense [Abstract] | |
Schedule of components of other noninterest expense | (Dollars in Thousands) 2022 2021 2020 Legal Fees $ 1,413 $ 1,411 $ 1,570 Professional Fees 5,437 5,633 4,863 Telephone 2,851 2,975 2,869 Advertising 3,208 2,683 2,998 Processing Services 6,534 6,569 5,832 Insurance – Other 2,409 2,096 1,607 Pension – Other (3,043) 1,913 (216) Pension – Settlement 2,321 3,072 - Other 14,411 10,754 11,500 Total $ 35,541 37,106 31,023 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies [Abstract] | |
Schedule of amounts associated with the entities off-balance sheet obligations | 2022 2021 (Dollars in Thousands) Fixed Variable Total Fixed Variable Total Commitments to Extend Credit (1) $ 243,614 $ 531,873 $ 775,487 $ 217,531 $ 505,897 $ 723,428 Standby Letters of Credit 5,619 - 5,619 5,205 - 5,205 Total $ 249,233 $ 531,873 $ 781,106 $ 222,736 $ 505,897 $ 728,633 (1) |
Allowance for credit losses for off-balance sheet credit commitments | (Dollars in Thousands) 2022 2021 2020 Beginning Balance $ 2,897 $ 1,644 $ 157 Impact of Adoption of ASC 326 - - 876 Provision for Credit Losses 92 1,253 611 Ending Balance $ 2,989 $ 2,897 $ 1,644 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2022 (As Restated) ASSETS: Securities Available for U.S. Government Treasury $ 22,050 $ - $ - $ 22,050 U.S. Government Agency - 186,052 - 186,052 States and Political Subdivisions - 40,329 - 40,329 Mortgage-Backed Securities - 69,405 - 69,405 Corporate Debt Securities - 88,236 - 88,236 Loans Held for Sale - 26,909 - 26,909 Interest Rate Swap Derivative - 6,195 - 6,195 Mortgage Banking Hedge Derivative - 187 - 187 Mortgage Banking IRLC Derivative - - 819 819 2021 ASSETS: Securities Available for U.S. Government Treasury $ 187,868 $ - $ - $ 187,868 U.S. Government Agency - 237,578 - 237,578 State and Political Subdivisions - 46,980 - 46,980 Mortgage-Backed Securities - 88,869 - 88,869 Corporate Debt Securities - 86,222 - 86,222 Loans Held for Sale - 52,532 - 52,532 Interest Rate Swap Derivative - 2,050 - 2,050 Mortgage Banking IRLC Derivative - - 1,258 1,258 LIABILITIES: Mortgage Banking Hedge Derivative $ - $ 7 $ - $ 7 |
Schedule of financial instruments with estimated fair values | 2022 (As Restated) (Dollars in Thousands) Carrying Level 1 Level 2 Level 3 Value Inputs Inputs Inputs ASSETS: Cash $ 72,114 $ 72,114 $ - $ - Short-Term Investments 528,536 528,536 - - Investment Securities, Held to Maturity 660,774 431,733 180,968 - Equity Securities (1) 10 - 10 - Other Equity Securities (2) 2,848 - 2,848 - Mortgage Servicing Rights 2,599 - - 4,491 Loans, Net of Allowance for Credit Losses 2,522,617 - - 2,377,229 LIABILITIES: Deposits $ 3,939,317 $ - $ 3,310,383 $ - Short-Term 56,793 - 56,793 - Subordinated Notes Payable 52,887 - 45,763 - Long-Term Borrowings 513 - 513 - 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, Held to Maturity 339,601 113,877 225,822 - Equity Securities (1) 861 - 861 - Other Equity Securities (2) 2,848 - 2,848 - Mortgage Servicing Rights 3,774 - - 4,718 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 - (1) (2) |
PARENT COMPANY FINANCIAL INFO_2
PARENT COMPANY FINANCIAL INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Parent Company Financial Information [Abstract] | |
Schedule of condensed statements of financial condition of the parent company | (As Restated) (Dollars in Thousands, Except Per Share 2022 2021 ASSETS Cash and Due From Subsidiary Bank $ 42,737 $ 25,768 Equity Securities 199 120 Investment in Subsidiary Bank 404,892 415,580 Goodwill and Other Intangibles 3,998 4,158 Other Assets 11,297 7,866 Total Assets $ 463,123 $ 453,492 LIABILITIES Subordinated Notes Payable 52,887 52,887 Other Liabilities 22,955 17,439 Total Liabilities $ 75,842 $ 70,326 SHAREOWNERS’ EQUITY Common Stock, $ .01 90,000,000 16,986,785 16,892,060 issued and outstanding at December 31, 2022 and 2021, respectively 170 169 Additional Paid-In Capital 37,331 34,423 Retained Earnings 387,009 364,788 Accumulated Other Comprehensive Loss, Net of Tax (37,229) (16,214) Total Shareowners’ 387,281 383,166 Total Liabilities and Shareowners’ $ 463,123 $ 453,492 |
Schedule of operating results of the parent company | (As Restated) (Dollars in Thousands) 2022 2021 2020 OPERATING INCOME Income Received from Subsidiary Bank: Administrative Fees $ 5,396 $ 5,516 $ 6,068 Dividends 23,000 10,000 21,000 Other Income 253 174 193 Total Operating 28,649 15,690 27,261 OPERATING EXPENSE Salaries and Associate Benefits 5,034 3,558 3,418 Interest on Subordinated Notes Payable 1,652 1,233 1,514 Professional Fees 616 1,113 1,079 Advertising 232 134 140 Legal Fees 370 589 456 Other 2,186 2,087 1,673 Total Operating 10,090 8,714 8,280 Earnings Before Income Taxes Earnings of Subsidiary Bank 18,559 6,976 18,981 Income Tax Benefit (661) (717) (406) Earnings Before Equity in Undistributed Earnings of Subsidiary Bank 19,220 7,693 19,387 Equity in Undistributed Earnings of Subsidiary Bank 14,192 25,703 12,189 Net Income Attributable to Common Shareowners $ 33,412 $ 33,396 $ 31,576 |
Schedule of cash flows for the parent company | (As Restated) (Dollars in Thousands) 2022 2021 2020 CASH FLOWS FROM OPERATING Net Income Attributable to Common Shareowners $ 33,412 $ 33,396 $ 31,576 Adjustments to Reconcile Net Income to Net Cash Provided By Equity in Undistributed Earnings of Subsidiary Bank (14,192) (25,703) (12,189) Stock Compensation 1,278 843 892 Amortization of Intangible Asset 160 107 - Increase in Other Assets (336) (21) (217) Increase in Other Liabilities 5,847 3,131 1,900 Net Cash Provided By Operating Activities $ 26,169 $ 11,753 $ 21,962 CASH FROM INVESTING ACTIVITIES: Purchase of Equity Securities $ (79) $ (120) $ - Net Cash Paid for Acquisition - (4,482) - Decrease (Increase) in Investment in Subsidiaries 770 (10,770) - Net Cash Provided by (Used in) Investing Activities $ 691 $ (15,372) $ - CASH FROM FINANCING ACTIVITIES: Repayment of Long-Term - (900) (600) Dividends Paid (11,191) (10,459) (9,567) Issuance of Common Stock Under Compensation Plans 1,300 1,028 1,041 Payments to Repurchase Common Stock - - (2,042) Net Cash Used In Financing Activities $ (9,891) $ (10,331) $ (11,168) Net Increase (Decrease) in Cash 16,969 (13,950) 10,794 Cash at Beginning of Year 25,768 39,718 28,924 Cash at End of Year $ 42,737 $ 25,768 $ 39,718 |
QUARTERLY RESULTS OF OPERATIO_2
QUARTERLY RESULTS OF OPERATIONS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Quarterly Results of Operations [Abstract] | |
Schedule of interim financial statements | CAPITAL CITY BANK CONSOLIDATED STATEMENTS As Restated (Dollars in Thousands, except per share data) Mar 31, 2022 Jun 30, 2022 Sept 30, 2022 ASSETS: Cash and Due From Banks $ 77,963 $ 91,209 $ 72,686 Federal Funds Sold and Interest Bearing Deposits 790,465 603,315 497,679 Total Cash and Cash Equivalents 868,428 694,524 570,365 Investment Securities Available 655,927 , $ 643,679 , and $ 461,646 ) 624,361 601,405 416,745 Investment Securities Held to Maturity (fair value of $ 501,277 498,963 , and $ 623,628 ) 518,678 528,258 676,178 Other Equity Securities 855 900 1,349 1,143,894 1,130,563 1,094,272 Loans Held For Sale 46,256 24,986 23,162 Loans, Net of Unearned Income 1,988,660 2,235,252 2,369,785 Allowance for Loan Losses (20,788) (21,463) (22,747) Loans, Net 1,967,872 2,213,789 2,347,038 Premises and Equipment, Net 82,518 82,932 81,736 Goodwill 93,213 93,173 93,133 Other Real Estate Owned 17 90 13 Other Assets 106,330 111,270 118,272 Total Assets $ 4,308,528 $ 4,351,327 $ 4,327,991 LIABILITIES Deposits: Noninterest Bearing Deposits $ 1,704,329 $ 1,724,671 $ 1,737,046 Interest Bearing Deposits 2,061,178 2,061,587 2,022,332 Total Deposits 3,765,507 3,786,258 3,759,378 Short-Term 30,865 39,463 52,271 Subordinated Notes Payable 52,887 52,887 52,887 Other Long-Term 806 612 562 Other Liabilities 77,323 93,319 84,657 Total Liabilities 3,927,388 3,972,539 3,949,755 Temporary Equity 10,512 10,083 9,751 SHAREOWNERS' EQUITY Preferred Stock, $ .01 3,000,000 no and outstanding - - - Common Stock, $ .01 90,000,000 16,947,602 , 16,959,280 , and $ 16,961,812 169 170 170 Additional Paid-In Capital 35,188 35,738 36,234 Retained Earnings 369,014 373,562 380,284 Accumulated Other Comprehensive Loss, Net of Tax (33,743) (40,765) (48,203) Total Shareowners' Equity 370,628 368,705 368,485 $ 4,308,528 $ 4,351,327 $ 4,327,991 CAPITAL CITY BANK CONSOLIDATED STATEMENTS As Restated For Three Months Ended (Dollars in thousands, except per share data) Mar 31, 2022 Jun 30, 2022 Sept 30, 2022 INTEREST INCOME Loans, Including Fees $ 22,429 $ 24,268 $ 27,839 Investment Securities: Taxable Securities 2,890 3,833 4,360 Tax Exempt Securities 6 7 12 Funds Sold 409 1,408 3,231 Total Interest Income 25,734 29,516 35,442 INTEREST EXPENSE Deposits 224 266 1,052 Short-Term 192 343 536 Subordinated Notes Payable 317 370 443 Other Long-Term 9 8 6 Total Interest Expense 742 987 2,037 Net Interest Income 24,992 28,529 33,405 Provision for Loan Losses 32 1,692 2,154 Net Interest Income After Provision For Loan Losses 24,960 26,837 31,251 NONINTEREST INCOME Deposit Fees 5,191 5,447 5,947 Bank Card Fees 3,763 4,034 3,860 Wealth Management 6,070 4,403 3,937 Mortgage Banking Fees 4,055 4,857 2,895 Other 1,733 1,823 1,870 Total Noninterest 20,812 20,564 18,509 NONINTEREST EXPENSE Compensation 22,298 23,222 22,967 Occupancy, Net 6,093 6,075 6,153 Other 8,132 8,853 8,579 Total Noninterest 36,523 38,150 37,699 INCOME BEFORE INCOME TAXES 9,249 9,251 12,061 Income Tax Expense 1,720 1,685 2,493 NET INCOME 7,529 7,566 9,568 Pre-Tax Income (591) (306) 37 NET INCOME ATTRIBUTABLE $ 6,938 $ 7,260 $ 9,605 BASIC NET INCOME PER SHARE $ 0.41 $ 0.43 $ 0.57 DILUTED NET INCOME PER SHARE $ 0.41 $ 0.43 $ 0.57 AVERAGE Basic 16,931 16,949 16,960 Diluted 16,946 16,971 16,996 CAPITAL CITY BANK CONSOLIDATED STATEMENTS As Restated For Three Months Ended (Dollars in thousands, except per share data) Mar 31, 2022 Jun 30, 2022 Sept 30, 2022 NET INCOME $ 6,938 $ 7,260 $ 9,605 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (25,445) (10,714) (2,618) Unrealized losses on securities transferred from available for sale to held maturity - - (9,384) Amortization of unrealized losses on securities transferred from available held to maturity - - 586 Total Investment (25,445) (10,714) (11,416) Derivative: Change in net unrealized gain on effective cash flow 1,836 1,161 1,407 Benefit Plans: Defined benefit plan settlement 209 169 102 209 169 102 Other comprehensive income (loss), before (23,400) (9,384) (9,907) Deferred tax (benefit) expense related to other comprehensive income (5,871) (2,362) (2,469) Other comprehensive income (loss), net of tax (17,529) (7,022) (7,438) TOTAL COMPREHENSIVE $ (10,591) $ 238 $ 2,167 CAPITAL CITY BANK CONSOLIDATED STATEMENTS As Restated For Three Months Ended March 31, 2022 (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total Balance, January 1, 2022, as restated 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income Attributable to Common Shareowners - - - 6,938 - 6,938 Other Comprehensive Loss, Net of Tax - - - - (17,529) (17,529) Cash Dividends ($ 0.16 - - - (2,712) - (2,712) Stock Based Compensation - - 245 - - 245 Stock Compensation Plan Transactions, net 55,542 520 - - 520 Balance, March 31, 2022, as restated 16,947,602 $ 169 $ 35,188 $ 369,014 $ (33,743) $ 370,628 As Restated For Six Months Ended June 30, 2022 (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total Balance, January 1, 2022, as restated 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income - - - 14,198 - 14,198 Other Comprehensive Loss, Net of Tax - - - - (24,551) (24,551) Cash Dividends ($ 0.32 - - - (5,424) - (5,424) Stock Based Compensation - - 489 - - 489 Stock Compensation Plan Transactions, net 67,220 1 826 - - 827 Balance, June 30, 2022, as restated 16,959,280 $ 170 $ 35,738 $ 373,562 $ (40,765) $ 368,705 As Restated For Nine Months Ended (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total Balance, January 1, 2022 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income - - - 23,803 - 23,803 Other Comprehensive Loss, Net of Tax - - - - (31,989) (31,989) Cash Dividends ($ 0.49 - - - (8,307) - (8,307) Stock Based Compensation - - 904 - 904 Stock Compensation Plan Transactions, net 69,752 1 907 - 908 Balance, September 30, 2022 16,961,812 $ 170 $ 36,234 $ 380,284 $ (48,203) $ 368,485 CAPITAL CITY BANK CONSOLIDATED STATEMENTS As Restated (Dollars in Thousands) For Three Months Ended Mar 31, 2022 For Six Months Ended Jun 30, 2022 For Nine Months Ended Sept 30, 2022 CASH FLOWS FROM OPERATING Net Income Attributable to Common Shareowners $ 6,938 $ 14,198 $ 23,803 Adjustments to Reconcile Net Income to 32 1,724 3,878 1,907 3,802 5,689 2,610 5,053 6,618 40 80 120 209 378 480 (242,253) (549,018) (772,089) 252,584 585,476 813,267 (4,055) (8,912) (11,807) 364 360 570 245 489 904 (19) (19) (19) (6,682) (9,887) (12,854) (27) (72) (83) - (26) (136) 1,897 3,516 3,696 7,036 22,040 12,839 Net Cash Provided (Used In) By Operating Activities 20,826 69,182 74,876 CASH FLOWS FROM INVESTING ACTIVITIES Securities Held to Maturity: (194,448) (218,548) (219,865) 14,441 28,111 40,096 (25,139) (37,044) (41,880) 3,365 3,365 3,365 24,824 47,413 64,301 Purchase of loans held for investment (26,713) (174,779) (329,481) Net Increase in Loans Held for Investment (31,260) (130,913) (113,116) Proceeds From Sales of Other Real Estate Owned - 30 1,683 Purchases of Premises and Equipment (1,013) (3,322) (4,013) Noncontrolling interest contributions received 1,838 2,573 2,867 Net Cash Used In Investing Activities (234,105) (483,114) (596,043) CASH FLOWS FROM FINANCING ACTIVITIES Net Increase in Deposits 52,645 73,396 46,516 Net (Decrease) Increase in Other Short-Term (3,692) 4,784 17,592 Repayment of Other Long-Term (78) (150) (200) Dividends Paid (2,712) (5,424) (8,307) Issuance of Common Stock Under Compensation Plans 190 496 577 Net Cash Provided By Financing Activities 46,353 73,102 56,178 NET DECREASE IN CASH AND CASH EQUIVALENTS (166,926) (340,830) (464,989) Cash and Cash Equivalents at Beginning of Period 1,035,354 1,035,354 1,035,354 Cash and Cash Equivalents at End of Period $ 868,428 $ 694,524 $ 570,365 Supplemental Cash Flow Disclosures: $ 715 $ 1,617 $ 3,588 $ 20 $ 3,765 $ 6,410 Noncash Investing and Financing Activities: $ - $ 77 $ 1,543 CAPITAL CITY BANK CONSOLIDATED STATEMENT As of March 31, 2022 (Dollars in Thousands, except per share data) As Previously Reported Restatement Impact As Restated ASSETS: Cash and Due From Banks $ 77,963 $ - $ 77,963 Federal Funds Sold and Interest Bearing Deposits 790,465 - 790,465 Total Cash and Cash Equivalents 868,428 - 868,428 Investment Securities Available 655,927 ) 624,361 - 624,361 Investment Securities Held to Maturity (fair value of $ 501,277 ) 518,678 - 518,678 Other Equity Securities 855 - 855 1,143,894 - 1,143,894 Loans Held For Sale 50,815 (4,559) 46,256 Loans, Net of Unearned Income 1,985,509 3,151 1,988,660 Allowance for Loan Losses (20,756) (32) (20,788) Loans, Net 1,964,753 3,119 1,967,872 Premises and Equipment, Net 82,518 - 82,518 Goodwill 93,213 - 93,213 Other Real Estate Owned 17 - 17 Other Assets 106,407 (77) 106,330 Total Assets $ 4,310,045 $ (1,517) $ 4,308,528 LIABILITIES Deposits: Noninterest Bearing Deposits $ 1,704,329 $ - $ 1,704,329 Interest Bearing Deposits 2,061,178 - 2,061,178 Total Deposits 3,765,507 - 3,765,507 Short-Term 30,865 - 30,865 Subordinated Notes Payable 52,887 - 52,887 Other Long-Term 806 - 806 Other Liabilities 77,323 - 77,323 Total Liabilities 3,927,388 - 3,927,388 Temporary Equity 10,512 - 10,512 SHAREOWNERS' EQUITY Preferred Stock: $ .01 3,000,000 no - - - Common Stock, $ .01 90,000,000 16,947,602 169 - 169 Additional Paid-In Capital 35,188 - 35,188 Retained Earnings 370,531 (1,517) 369,014 Accumulated Other Comprehensive Loss, Net of Tax (33,743) - (33,743) Total Shareowners' Equity 372,145 (1,517) 370,628 $ 4,310,045 $ (1,517) $ 4,308,528 CAPITAL CITY BANK CONSOLIDATED STATEMENT As of June 30, 2022 (Dollars in Thousands, except per share data) As Previously Reported Restatement Impact As Restated ASSETS: Cash and Due From Banks $ 91,209 $ - $ 91,209 Federal Funds Sold and Interest Bearing Deposits 603,315 - 603,315 Total Cash and Cash Equivalents 694,524 - 694,524 Investment Securities Available 643,679 ) 601,405 - 601,405 Investment Securities Held to Maturity (fair value of $ 498,963 ) 528,258 - 528,258 Other Equity Securities 900 - 900 1,130,563 - 1,130,563 Loans Held For Sale 48,708 (23,722) 24,986 Loans, Net of Unearned Income 2,213,653 21,599 2,235,252 Allowance for Loan Losses (21,281) (182) (21,463) Loans, Net 2,192,372 21,417 2,213,789 Premises and Equipment, Net 82,932 - 82,932 Goodwill 93,173 - 93,173 Other Real Estate Owned 90 - 90 Other Assets 111,935 (665) 111,270 Total Assets $ 4,354,297 $ (2,970) $ 4,351,327 LIABILITIES Deposits: Noninterest Bearing Deposits $ 1,724,671 $ - $ 1,724,671 Interest Bearing Deposits 2,061,587 - 2,061,587 Total Deposits 3,786,258 - 3,786,258 Short-Term 39,463 - 39,463 Subordinated Notes Payable 52,887 - 52,887 Other Long-Term 612 - 612 Other Liabilities 93,319 - 93,319 Total Liabilities 3,972,539 - 3,972,539 Temporary Equity 10,083 - 10,083 SHAREOWNERS' EQUITY Preferred Stock: $ .01 3,000,000 no - - - Common Stock, $ .01 90,000,000 16,959,280 170 - 170 Additional Paid-In Capital 35,738 - 35,738 Retained Earnings 376,532 (2,970) 373,562 Accumulated Other Comprehensive Loss, Net of Tax (40,765) - (40,765) Total Shareowners' Equity 371,675 (2,970) 368,705 $ 4,354,297 $ (2,970) $ 4,351,327 CAPITAL CITY BANK CONSOLIDATED STATEMENT As of September 30, 2022 (Dollars in Thousands, except per share data) As Previously Reported Restatement Impact As Restated ASSETS: Cash and Due From Banks $ 72,686 $ - $ 72,686 Federal Funds Sold and Interest Bearing Deposits 497,679 - 497,679 Total Cash and Cash Equivalents 570,365 - 570,365 Investment Securities Available 461,646 ) 416,745 - 416,745 Investment Securities Held to Maturity (fair value of $ 623,628 ) 676,178 - 676,178 Other Equity Securities 1,349 - 1,349 1,094,272 - 1,094,272 Loans Held For Sale 50,304 (27,142) 23,162 Loans, Net of Unearned Income 2,346,185 23,600 2,369,785 Allowance for Loan Losses (22,510) (237) (22,747) Loans, Net 2,323,675 23,363 2,347,038 Premises and Equipment, Net 81,736 - 81,736 Goodwill 93,133 - 93,133 Other Real Estate Owned 13 - 13 Other Assets 119,173 (901) 118,272 Total Assets $ 4,332,671 $ (4,680) $ 4,327,991 LIABILITIES Deposits: Noninterest Bearing Deposits $ 1,737,046 $ - $ 1,737,046 Interest Bearing Deposits 2,022,332 - 2,022,332 Total Deposits 3,759,378 - 3,759,378 Short-Term 52,271 - 52,271 Subordinated Notes Payable 52,887 - 52,887 Other Long-Term 562 - 562 Other Liabilities 84,657 - 84,657 Total Liabilities 3,949,755 - 3,949,755 Temporary Equity 9,751 - 9,751 SHAREOWNERS' EQUITY Preferred Stock: $ .01 3,000,000 no - - - Common Stock, $ .01 90,000,000 16,961,812 170 - 170 Additional Paid-In Capital 36,234 - 36,234 Retained Earnings 384,964 (4,680) 380,284 Accumulated Other Comprehensive Loss, Net of Tax (48,203) - (48,203) Total Shareowners' Equity 373,165 (4,680) 368,485 $ 4,332,671 $ (4,680) $ 4,327,991 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Three Months Ended March 31, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 22,133 $ 296 $ 22,429 Taxable Securities 2,890 - 2,890 Tax Exempt Securities 6 - 6 Funds Sold 409 - 409 Total Interest Income 25,438 296 25,734 INTEREST EXPENSE Deposits 224 - 224 Short-Term 192 - 192 Subordinated Notes Payable 317 - 317 Other Long-Term 9 - 9 Total Interest Expense 742 - 742 Net Interest Income 24,696 296 24,992 Provision for Loan Losses - 32 32 Net Interest Income After Provision For Loan Losses 24,696 264 24,960 NONINTEREST INCOME Deposit Fees 5,191 - 5,191 Bank Card Fees 3,763 - 3,763 Wealth Management 6,070 - 6,070 Mortgage Banking Fees 8,946 (4,891) 4,055 Other 1,848 (115) 1,733 Total Noninterest 25,818 (5,006) 20,812 NONINTEREST EXPENSE Compensation 24,856 (2,558) 22,298 Occupancy, Net 6,093 - 6,093 Other Real Estate, Net 25 - 25 Pension Settlement 209 - 209 Other 8,050 (152) 7,898 Total Noninterest 39,233 (2,710) 36,523 INCOME BEFORE INCOME TAXES 11,281 (2,032) 9,249 Income Tax Expense 2,235 (515) 1,720 NET INCOME 9,046 (1,517) 7,529 Pre-Tax Income (591) - (591) NET INCOME ATTRIBUTABLE $ 8,455 $ (1,517) $ 6,938 BASIC NET INCOME PER SHARE $ 0.50 $ (0.09) $ 0.41 DILUTED NET INCOME PER SHARE $ 0.50 $ (0.09) $ 0.41 AVERAGE Basic 16,931 - 16,931 Diluted 16,946 - 16,946 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Three Months Ended June 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 24,072 $ 196 $ 24,268 Taxable Securities 3,833 - 3,833 Tax Exempt Securities 7 - 7 Funds Sold 1,408 - 1,408 Total Interest Income 29,320 196 29,516 INTEREST EXPENSE Deposits 266 - 266 Short-Term 343 - 343 Subordinated Notes Payable 370 - 370 Other Long-Term 8 - 8 Total Interest Expense 987 - 987 Net Interest Income 28,333 196 28,529 Provision for Loan Losses 1,542 150 1,692 Net Interest Income After Provision For Loan Losses 26,791 46 26,837 NONINTEREST INCOME Deposit Fees 5,447 - 5,447 Bank Card Fees 4,034 - 4,034 Wealth Management 4,403 - 4,403 Mortgage Banking Fees 9,065 (4,208) 4,857 Other 1,954 (131) 1,823 Total Noninterest 24,903 (4,339) 20,564 NONINTEREST EXPENSE Compensation 25,383 (2,161) 23,222 Occupancy, Net 6,075 - 6,075 Other Real Estate, Net (29) - (29) Pension Settlement 169 - 169 Other 8,900 (187) 8,713 Total Noninterest 40,498 (2,348) 38,150 INCOME BEFORE INCOME TAXES 11,196 (1,945) 9,251 Income Tax Expense 2,177 (492) 1,685 NET INCOME 9,019 (1,453) 7,566 Pre-Tax Income (306) - (306) NET INCOME ATTRIBUTABLE $ 8,713 $ (1,453) $ 7,260 BASIC NET INCOME PER SHARE $ 0.51 $ (0.08) $ 0.43 DILUTED NET INCOME PER SHARE $ 0.51 $ (0.08) $ 0.43 AVERAGE Basic 16,949 - 16,949 Diluted 16,971 - 16,971 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Six Months Ended June 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 46,205 $ 492 $ 46,697 Taxable Securities 6,723 - 6,723 Tax Exempt Securities 13 - 13 Funds Sold 1,817 - 1,817 Total Interest Income 54,758 492 55,250 INTEREST EXPENSE Deposits 490 - 490 Short-Term 535 - 535 Subordinated Notes Payable 687 - 687 Other Long-Term 17 - 17 Total Interest Expense 1,729 - 1,729 Net Interest Income 53,029 492 53,521 Provision for Loan Losses 1,542 182 1,724 Net Interest Income After Provision For Loan Losses 51,487 310 51,797 NONINTEREST INCOME Deposit Fees 10,638 - 10,638 Bank Card Fees 7,797 - 7,797 Wealth Management 10,473 - 10,473 Mortgage Banking Fees 18,011 (9,099) 8,912 Other 3,802 (246) 3,556 Total Noninterest 50,721 (9,345) 41,376 NONINTEREST EXPENSE Compensation 50,239 (4,719) 45,520 Occupancy, Net 12,168 - 12,168 Other 17,324 (339) 16,985 Total Noninterest 79,731 (5,058) 74,673 INCOME BEFORE INCOME TAXES 22,477 (3,977) 18,500 Income Tax Expense 4,412 (1,007) 3,405 NET INCOME 18,065 (2,970) 15,095 Pre-Tax Income (897) - (897) NET INCOME ATTRIBUTABLE $ 17,168 $ (2,970) $ 14,198 BASIC NET INCOME PER SHARE $ 1.01 $ (0.17) $ 0.84 DILUTED NET INCOME PER SHARE $ 1.01 $ (0.17) $ 0.84 AVERAGE Basic 16,940 - 16,940 Diluted 16,958 - 16,958 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Three Months Ended September 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 27,761 $ 78 $ 27,839 Taxable Securities 4,360 - 4,360 Tax Exempt Securities 12 - 12 Funds Sold 3,231 - 3,231 Total Interest Income 35,364 78 35,442 INTEREST EXPENSE Deposits 1,052 - 1,052 Short-Term 536 - 536 Subordinated Notes Payable 443 - 443 Other Long-Term 6 - 6 Total Interest Expense 2,037 - 2,037 Net Interest Income 33,327 78 33,405 Provision for Loan Losses 2,099 55 2,154 Net Interest Income After Provision For Loan Losses 31,228 23 31,251 NONINTEREST INCOME Deposit Fees 5,947 - 5,947 Bank Card Fees 3,860 - 3,860 Wealth Management 3,937 - 3,937 Mortgage Banking Fees 7,116 (4,221) 2,895 Other 2,074 (204) 1,870 Total Noninterest 22,934 (4,425) 18,509 NONINTEREST EXPENSE Compensation 24,738 (1,771) 22,967 Occupancy, Net 6,153 - 6,153 Other 8,919 (340) 8,579 Total Noninterest 39,810 (2,111) 37,699 INCOME BEFORE INCOME TAXES 14,352 (2,291) 12,061 Income Tax Expense 3,074 (581) 2,493 NET INCOME 11,278 (1,710) 9,568 Pre-Tax Income 37 - 37 NET INCOME ATTRIBUTABLE $ 11,315 $ (1,710) $ 9,605 BASIC NET INCOME PER SHARE $ 0.67 $ (0.10) $ 0.57 DILUTED NET INCOME PER SHARE $ 0.67 $ (0.10) $ 0.57 AVERAGE Basic 16,960 - 16,960 Diluted 16,996 - 16,996 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Nine Months Ended September 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated INTEREST INCOME Loans, Including Fees $ 73,966 $ 570 $ 74,536 Taxable Securities 11,083 - 11,083 Tax Exempt Securities 25 - 25 Funds Sold 5,048 - 5,048 Total Interest Income 90,122 570 90,692 INTEREST EXPENSE Deposits 1,542 - 1,542 Short-Term 1,071 - 1,071 Subordinated Notes Payable 1,130 - 1,130 Other Long-Term 23 - 23 Total Interest Expense 3,766 - 3,766 Net Interest Income 86,356 570 86,926 Provision for Loan Losses 3,641 237 3,878 Net Interest Income After Provision For Loan Losses 82,715 333 83,048 NONINTEREST INCOME Deposit Fees 16,585 - 16,585 Bank Card Fees 11,657 - 11,657 Wealth Management 14,410 - 14,410 Mortgage Banking Fees 25,127 (13,320) 11,807 Other 5,876 (450) 5,426 Total Noninterest 73,655 (13,770) 59,885 NONINTEREST EXPENSE Compensation 74,977 (6,490) 68,487 Occupancy, Net 18,321 - 18,321 Other 26,243 (679) 25,564 Total Noninterest 119,541 (7,169) 112,372 INCOME BEFORE INCOME TAXES 36,829 (6,268) 30,561 Income Tax Expense 7,486 (1,588) 5,898 NET INCOME 29,343 (4,680) 24,663 Pre-Tax Income (860) - (860) NET INCOME ATTRIBUTABLE $ 28,483 $ (4,680) $ 23,803 BASIC NET INCOME PER SHARE $ 1.68 $ (0.28) $ 1.40 DILUTED NET INCOME PER SHARE $ 1.68 $ (0.28) $ 1.40 AVERAGE Basic 16,947 - 16,947 Diluted 16,973 - 16,973 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Three Months Ended March 31, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 8,455 $ (1,517) $ 6,938 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (25,445) - (25,445) Derivative: Change in net unrealized gain on effective cash flow 1,836 - 1,836 Benefit Plans: Defined benefit plan settlement 209 - 209 209 - 209 Other comprehensive income (loss), before (23,400) - (23,400) Deferred tax (benefit) expense related to other comprehensive income (5,871) - (5,871) Other comprehensive income (loss), net of tax (17,529) - (17,529) TOTAL COMPREHENSIVE $ (9,074) $ (1,517) $ (10,591) CAPITAL CITY BANK CONSOLIDATED STATEMENT For Three Months Ended June 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 8,713 $ (1,453) $ 7,260 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (10,714) - (10,714) Derivative: Change in net unrealized gain on effective cash flow 1,161 - 1,161 Benefit Plans: Defined benefit plan settlement 169 - 169 169 - 169 Other comprehensive income (loss), before (9,384) - (9,384) Deferred tax (benefit) expense related to other comprehensive income (2,362) - (2,362) Other comprehensive income (loss), net of tax (7,022) - (7,022) TOTAL COMPREHENSIVE $ 1,691 $ (1,453) $ 238 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Six Months Ended June 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 17,168 $ (2,970) $ 14,198 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (36,158) - (36,158) Derivative: Change in net unrealized gain on effective cash flow 2,997 - 2,997 Benefit Plans: Defined benefit plan settlement 378 - 378 378 - 378 Other comprehensive income (loss), before (32,783) - (32,783) Deferred tax (benefit) expense related to other comprehensive income (8,232) - (8,232) Other comprehensive income (loss), net of tax (24,551) - (24,551) TOTAL COMPREHENSIVE $ (7,383) $ (2,970) $ (10,353) CAPITAL CITY BANK CONSOLIDATED STATEMENT For Three Months Ended September 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 11,315 $ (1,710) $ 9,605 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (2,618) - (2,618) Unrealized losses on securities transferred from available for sale to held maturity (9,384) - (9,384) Amortization of unrealized losses on securities transferred from available sale to held to maturity 586 - 586 Derivative: Change in net unrealized gain on effective cash flow 1,407 - 1,407 Benefit Plans: Defined benefit plan settlement 102 - 102 102 - 102 Other comprehensive income (loss), before (9,907) - (9,907) Deferred tax (benefit) expense related to other comprehensive income (2,469) - (2,469) Other comprehensive income (loss), net of tax (7,438) - (7,438) TOTAL COMPREHENSIVE $ 3,877 $ (1,710) $ 2,167 CAPITAL CITY BANK CONSOLIDATED STATEMENT For Nine Months Ended September 30, 2022 (Dollars in thousands, except per share data) As Previously Reported Restatement Impact As Restated NET INCOME $ 28,483 $ (4,680) $ 23,803 Other comprehensive income (loss), before Investment Securities: Change in net unrealized (loss) gain on securities available for sale (38,778) - (38,778) Unrealized losses on securities transferred from available for sale to held maturity (9,384) - (9,384) Amortization of unrealized losses on securities transferred from available sale to held to maturity 586 - 586 Derivative: Change in net unrealized gain on effective cash flow 4,403 - 4,403 Benefit Plans: Defined benefit plan settlement 480 - 480 480 - 480 Other comprehensive income (loss), before (42,693) - (42,693) Deferred tax expense (benefit) related to other comprehensive income 10,704 - 10,704 Other comprehensive income (loss), net of tax (31,989) - (31,989) TOTAL COMPREHENSIVE $ (3,506) $ (4,680) $ (8,186) CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, January 1, 2022, as previously reported 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income Attributable to Common Shareowners - - - 8,455 - 8,455 Other Comprehensive Loss, Net of Tax - - - - (17,529) (17,529) Cash Dividends ($ 0.16 - - - (2,712) - (2,712) Stock Based Compensation - - 245 - - 245 Stock Compensation Plan Transactions, net 55,542 - 520 - - 520 Balance, March 31, 2022, as previously reported 16,947,602 169 35,188 370,531 (33,743) 372,145 Restatement Impacts Net Income Attributable to Common Shareowners - - - (1,517) - (1,517) Balance, March 31, 2022 - - - (1,517) - (1,517) As Restated Balance, January 1, 2022, as restated 16,892,060 169 34,423 364,788 (16,214) 383,166 Net Income Attributable to Common Shareowners - - - 6,938 - 6,938 Other Comprehensive Loss, Net of Tax - - - (17,529) (17,529) Cash Dividends ($ 0.16 - - - (2,712) - (2,712) Stock Based Compensation - - 245 - - 245 Stock Compensation Plan Transactions, net 55,542 - 520 - - 520 Balance, March 31, 2022, as restated 16,947,602 $ 169 $ 35,188 $ 369,014 $ (33,743) $ 370,628 CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, April 1, 2022, as previously reported 16,947,602 $ 169 $ 35,188 $ 370,531 $ (33,743) $ 372,145 Net Income Attributable to Common Shareowners - - - 8,713 - 8,713 Other Comprehensive Loss, Net of Tax - - - (7,022) (7,022) Cash Dividends ($ 0.16 - - - (2,712) - (2,712) Stock Based Compensation - - 244 - - 244 Stock Compensation Plan Transactions, net 11,678 1 306 - - 307 Balance, June 30, 2022, as previously reported 16,959,280 170 35,738 376,532 (40,765) 371,675 Restatement Impacts Balance, April 1, 2022 - - - (1,517) - (1,517) Net Income Attributable to Common Shareowners - - - (1,453) - (1,453) Balance, June 30, 2022 - - - (2,970) - (2,970) As Restated Balance, April 1, 2022, as restated 16,947,602 169 35,188 369,014 (33,743) 370,628 Net Income Attributable to Common Shareowners - - - 7,260 - 7,260 Other Comprehensive Loss, Net of Tax - - - - (7,022) (7,022) Cash Dividends ($ 0.16 - - - (2,712) - (2,712) Stock Based Compensation - - 244 - - 244 Stock Compensation Plan Transactions, net 11,678 1 306 - - 307 Balance, June 30, 2022, as restated 16,959,280 $ 170 $ 35,738 $ 373,562 $ (40,765) $ 368,705 CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, January 1, 2022, as previously reported 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income Attributable to Common Shareowners - - - 17,168 - 17,168 Other Comprehensive Loss, Net of Tax - - - - (24,551) (24,551) Cash Dividends ($ 0.32 - - - (5,424) - (5,424) Stock Based Compensation - - 489 - - 489 Stock Compensation Plan Transactions, net 67,220 1 826 - - 827 Balance, June 30, 2022, as previously reported 16,959,280 170 35,738 376,532 (40,765) 371,675 Restatement Impacts Net Income Attributable to Common Shareowners - - - (2,970) - (2,970) Balance, June 30, 2022 - - - (2,970) (2,970) As Restated Balance, January 1, 2022, as restated 16,892,060 169 34,423 364,788 (16,214) 383,166 Net Income Attributable to Common Shareowners - - - 14,198 - 14,198 Other Comprehensive Loss, Net of Tax - - - (24,551) (24,551) Cash Dividends ($ 0.32 - - - (5,424) - (5,424) Stock Based Compensation - - 489 - - 489 Stock Compensation Plan Transactions, net 67,220 1 826 - - 827 Balance, June 30, 2022, as restated 16,959,280 $ 170 $ 35,738 $ 373,562 $ (40,765) $ 368,705 CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, July 1, 2022, as previously reported 16,959,280 $ 170 $ 35,738 $ 376,532 $ (40,765) $ 371,675 Net Income Attributable to Common Shareowners - - - 11,315 - 11,315 Other Comprehensive Loss, Net of Tax - - - - (7,438) (7,438) Cash Dividends ($ 0.16 - - - (2,883) - (2,883) Stock Based Compensation - - 415 - - 415 Stock Compensation Plan Transactions, net 2,532 - 81 - - 81 Balance, September 30, 2022, as previously reported 16,961,812 170 36,234 384,964 (48,203) 373,165 Restatement Impacts Balance, July 1, 2022 - - - (2,970) - (2,970) Net Income Attributable to Common Shareowners - - - (1,710) - (1,710) Balance, September 30, 2022 - - - (4,680) - (4,680) As Restated Balance, July 1, 2022, as restated 16,959,280 170 35,738 373,562 (40,765) 368,705 Net Income Attributable to Common Shareowners - - - 9,605 - 9,605 Other Comprehensive Loss, Net of Tax - - - - (7,438) (7,438) Cash Dividends ($ 0.16 - - - (2,883) - (2,883) Stock Based Compensation - - 415 - - 415 Stock Compensation Plan Transactions, net 2,532 - 81 - - 81 Balance, September 30, 2022, as restated 16,961,812 $ 170 $ 36,234 $ 380,284 $ (48,203) $ 368,485 CAPITAL CITY BANK CONSOLIDATED STATEMENT (Dollars in thousands, except per share data) Shares Outstanding Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss, Net of Taxes Total As Previously Reported Balance, January 1, 2022, as previously reported 16,892,060 $ 169 $ 34,423 $ 364,788 $ (16,214) $ 383,166 Net Income Attributable to Common Shareowners - - - 28,483 - 28,483 Other Comprehensive Loss, Net of Tax - - - - (31,989) (31,989) Cash Dividends ($ 0.49 - - - (8,307) - (8,307) Stock Based Compensation - - 904 - - 904 Stock Compensation Plan Transactions, net 69,752 1 907 - - 908 Balance, September 30, 2022, as previously reported 16,961,812 170 36,234 384,964 (48,203) 373,165 Restatement Impacts Net Income Attributable to Common Shareowners - - - (4,680) - (4,680) Balance, September 30, 2022 - - - (4,680) (4,680) As Restated Balance, January 1, 2022, as restated 16,892,060 169 34,423 364,788 (16,214) 383,166 Net Income Attributable to Common Shareowners - - - 23,803 - 23,803 Other Comprehensive Loss, Net of Tax - - - - (31,989) (31,989) Cash Dividends ($ 0.49 - - - (8,307) - (8,307) Stock Based Compensation - - 904 - - 904 Stock Compensation Plan Transactions, net 69,752 1 907 - - 908 Balance, September 30, 2022, as restated 16,961,812 $ 170 $ 36,234 $ 380,284 $ (48,203) $ 368,485 CAPITAL CITY BANK CONSOLIDATED STATEMENT For the Three Months Ended March 31, 2022 (Dollars in Thousands) As Previously Reported Restatement Impact As Restated CASH FLOWS FROM OPERATING Net Income $ 8,455 $ (1,517) $ 6,938 Adjustments to Reconcile Net Income to - 32 32 1,907 - 1,907 2,907 (297) 2,610 40 - 40 209 - 209 (246,887) 4,634 (242,253) 257,550 (4,966) 252,584 (8,946) 4,891 (4,055) 227 137 364 245 - 245 (19) - (19) (6,167) (515) (6,682) (27) - (27) 1,441 456 1,897 7,036 - 7,036 Net Cash Provided (Used In) By Operating Activities 17,971 2,855 20,826 CASH FLOWS FROM INVESTING ACTIVITIES Securities Held to Maturity: (194,448) - (194,448) 14,441 - 14,441 Securities Available for (25,139) - (25,139) 3,365 - 3,365 24,824 - 24,824 Purchases of Loans Held for Investment (26,713) - (26,713) Net (Increase) Decrease in Loans (28,405) (2,855) (31,260) Purchases of Premises and Equipment, net (1,013) - (1,013) Noncontrolling Interest Contributions 1,838 - 1,838 Net Cash Used In Investing Activities (231,250) (2,855) (234,105) CASH FLOWS FROM FINANCING ACTIVITIES Net Increase in Deposits 52,645 - 52,645 Net (Decrease) Increase (3,692) - (3,692) Repayment of Other Long-Term (78) - (78) Dividends Paid (2,712) - (2,712) Issuance of Common Stock Under Compensation Plans 190 - 190 Net Cash Provided By Financing Activities 46,353 - 46,353 NET DECREASE IN CASH AND CASH EQUIVALENTS (166,926) - (166,926) Cash and Cash Equivalents at Beginning of Per |
SIGNIFICANT ACCOUNTING POLICI_4
SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Apr. 30, 2021 | Mar. 01, 2020 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Accounting Policies [Abstract] | ||||||||||||
Average federal reserves | $ 0 | |||||||||||
Impact of ASC 326 [Line Items] | ||||||||||||
Financing Receivable, Allowance for Credit Loss | $ 22,747,000 | $ 21,463,000 | $ 20,788,000 | $ 21,463,000 | $ 22,747,000 | 25,068,000 | $ 21,606,000 | $ 23,816,000 | $ 13,905,000 | |||
Business combination abstract | ||||||||||||
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 | 9,751,000 | 10,083,000 | 10,512,000 | 10,083,000 | 9,751,000 | 8,757,000 | 11,758,000 | ||||
Noncontrolling interest in subsidiary | 49% | |||||||||||
Additional goodwill | 2,800,000 | $ 4,300,000 | ||||||||||
Intangible assets acquired | $ 1,600,000 | |||||||||||
Relcasification from permenent to temporary equity | 9,323,000 | [1] | (9,323,000) | |||||||||
Restricted cash balance | 500,000 | |||||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||||||
Assets | 4,327,991,000 | 4,351,327,000 | 4,308,528,000 | 4,351,327,000 | 4,327,991,000 | 4,519,223,000 | 4,263,849,000 | |||||
Net Income (Loss) | $ 9,605,000 | $ 7,260,000 | $ 6,938,000 | $ 14,198,000 | $ 23,803,000 | $ 33,412,000 | $ 33,396,000 | $ 31,576,000 | ||||
Diluted Earnings Per Share (in dollars per shares) | $ 0.57 | $ 0.43 | $ 0.41 | $ 0.84 | $ 1.40 | $ 1.97 | $ 1.98 | $ 1.88 | ||||
Scenario Previously Reported [Member] | ||||||||||||
Impact of ASC 326 [Line Items] | ||||||||||||
Financing Receivable, Allowance for Credit Loss | $ 22,510,000 | $ 21,281,000 | $ 20,756,000 | $ 21,281,000 | $ 22,510,000 | $ 24,736,000 | ||||||
Business combination abstract | ||||||||||||
Temporary Equity | 9,751,000 | 10,083,000 | 10,512,000 | 10,083,000 | 9,751,000 | 8,757,000 | ||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||||||
Assets | 4,332,671,000 | 4,354,297,000 | 4,310,045,000 | 4,354,297,000 | 4,332,671,000 | 4,525,958,000 | ||||||
Net Income (Loss) | $ 11,315,000 | $ 8,713,000 | $ 8,455,000 | $ 17,168,000 | $ 28,483,000 | $ 40,147,000 | ||||||
Diluted Earnings Per Share (in dollars per shares) | $ 0.67 | $ 0.51 | $ 0.50 | $ 1.01 | $ 1.68 | $ 2.36 | ||||||
Restatement Adjustment [Member] | ||||||||||||
Impact of ASC 326 [Line Items] | ||||||||||||
Financing Receivable, Allowance for Credit Loss | $ 237,000 | $ 182,000 | $ 32,000 | $ 182,000 | $ 237,000 | $ 332,000 | ||||||
Business combination abstract | ||||||||||||
Temporary Equity | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||||||
Assets | (4,680,000) | (2,970,000) | (1,517,000) | (2,970,000) | (4,680,000) | (6,735,000) | ||||||
Net Income (Loss) | $ (1,710,000) | $ (1,453,000) | $ (1,517,000) | $ (2,970,000) | $ (4,680,000) | $ (6,735,000) | ||||||
Diluted Earnings Per Share (in dollars per shares) | $ (0.10) | $ (0.08) | $ (0.09) | $ (0.17) | $ (0.28) | $ (0.39) | ||||||
Deferred fees and costs | $ 3,400,000 | |||||||||||
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 | |||||||||||
Capital City Home Loans, LLC [Member] | ||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||
Subsidiary, Ownership Percentage, Parent | 51% | |||||||||||
Overstated [Member] | ||||||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||||||
Assets | $ 6,700,000 | |||||||||||
Net Income (Loss) | $ 6,700,000 | |||||||||||
Percent of total assets overstated | 0.15% | |||||||||||
Percent of net income overstated | 16.78% | |||||||||||
Increase In Total Assets [Member] | Restatement Adjustment [Member] | ||||||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||||||
Mark-to-market and acl adjustment | $ 156,000 | |||||||||||
Decrease In Net Income [Member] | Restatement Adjustment [Member] | ||||||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||||||
Mark-to-market and acl adjustment | $ 156,000 | |||||||||||
Brand Mortgage Group [Member] | ||||||||||||
Business combination abstract | ||||||||||||
Acquisition of equity interest in Brand Mortgage, LLC | 51% | |||||||||||
[1] (1) Adjustments to redemption value for non-controlling interest in CCHL |
SIGNIFICANT ACCOUNTING POLICI_5
SIGNIFICANT ACCOUNTING POLICIES - (Restatment Impact of Consolidated Statement of Financial Condition) (Details) - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 01, 2020 | Dec. 31, 2019 |
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Cash and Due From Banks | $ 72,114 | $ 72,686 | $ 91,209 | $ 77,963 | $ 65,313 | |||
Federal Funds Sold and Interest Bearing Deposits | 528,536 | 497,679 | 603,315 | 790,465 | 970,041 | |||
Total Cash and Cash Equivalents | 600,650 | 570,365 | 694,524 | 868,428 | 1,035,354 | $ 928,549 | $ 378,423 | |
Investment Securities Available for Sale | 413,294 | 416,745 | 601,405 | 624,361 | 654,611 | |||
Investment Securities, Held to Maturity | 660,744 | 676,178 | 528,258 | 518,678 | 339,601 | |||
Other Equity Securities | 10 | 1,349 | 900 | 855 | 861 | |||
Total Investment Securities | 1,074,048 | 1,094,272 | 1,130,563 | 1,143,894 | 995,073 | |||
Loans Held for Sale | 26,909 | 23,162 | 24,986 | 46,256 | 52,532 | |||
Loans, Net of Unearned Income | 2,547,685 | 2,369,785 | 2,235,252 | 1,988,660 | 1,931,465 | |||
Allowance for Loan Losses | (25,068) | (22,747) | (21,463) | (20,788) | (21,606) | $ (23,816) | (13,905) | |
Loans Held for Investment, Net | 2,522,617 | 2,347,038 | 2,213,789 | 1,967,872 | 1,909,859 | |||
Premises and Equipment, Net | 82,138 | 81,736 | 82,932 | 82,518 | 83,412 | |||
Goodwill | 93,093 | 93,133 | 93,173 | 93,213 | 93,253 | |||
Other Real Estate Owned | 431 | 13 | 90 | 17 | 17 | |||
Other Assets | 119,337 | 118,272 | 111,270 | 106,330 | 94,349 | |||
Total Assets | 4,519,223 | 4,327,991 | 4,351,327 | 4,308,528 | 4,263,849 | |||
Noninterest Bearing Deposits | 1,653,620 | 1,737,046 | 1,724,671 | 1,704,329 | 1,668,912 | |||
Interest Bearing Deposits | 2,285,697 | 2,022,332 | 2,061,587 | 2,061,178 | 2,043,950 | |||
Total Deposits | 3,939,317 | 3,759,378 | 3,786,258 | 3,765,507 | 3,712,862 | |||
Short-Term Borrowings | 56,793 | 52,271 | 39,463 | 30,865 | 34,557 | |||
Subordinated Notes Payable | 52,887 | 52,887 | 52,887 | 52,887 | 52,887 | |||
Other Long-Term Borrowings | 513 | 562 | 612 | 806 | 884 | |||
Other Liabilities | 73,675 | 84,657 | 93,319 | 77,323 | 67,735 | |||
Total Liabilities | 4,123,185 | 3,949,755 | 3,972,539 | 3,927,388 | 3,868,925 | |||
Temporary Equity | 8,757 | 9,751 | 10,083 | 10,512 | 11,758 | $ 7,400 | ||
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 | 170 | 170 | 170 | 169 | 169 | |||
Additional Paid-In Capital | 37,331 | 36,234 | 35,738 | 35,188 | 34,423 | |||
Retained Earnings | 387,009 | 380,284 | 373,562 | 369,014 | 364,788 | |||
Accumulated Other Comprehensive Loss, Net of Tax | (37,229) | (48,203) | (40,765) | (33,743) | (16,214) | |||
Total Shareowners' Equity | 387,281 | 368,485 | 368,705 | 370,628 | 383,166 | $ 327,016 | ||
Total Liabilities, Temporary Equity, and Shareowners' Equity | 4,519,223 | 4,327,991 | 4,351,327 | 4,308,528 | 4,263,849 | |||
Amortized Cost | 455,232 | 461,646 | 643,679 | 655,927 | 660,732 | |||
Investment securities, held to maturity, fair value | $ 612,701 | $ 623,628 | $ 498,963 | $ 501,277 | $ 339,699 | |||
Preferred Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||
Preferred Stock, authorized | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | |||
Preferred Stock, issued | 0 | 0 | 0 | 0 | 0 | |||
Preferred Stock, outstanding | 0 | 0 | 0 | 0 | 0 | |||
Common Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||
Common Stock, authorized | 90,000,000 | 90,000,000 | 90,000,000 | 90,000,000 | 90,000,000 | |||
Common Stock, issued | 16,986,785 | 16,961,812 | 16,959,280 | 16,947,602 | 16,892,060 | |||
Common Stock, outstanding | 16,986,785 | 16,961,812 | 16,959,280 | 16,947,602 | 16,892,060 | 16,790,573 | 16,771,544 | |
Scenario Previously Reported [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Cash and Due From Banks | $ 72,114 | $ 72,686 | $ 91,209 | $ 77,963 | ||||
Federal Funds Sold and Interest Bearing Deposits | 528,536 | 497,679 | 603,315 | 790,465 | ||||
Total Cash and Cash Equivalents | 600,650 | 570,365 | 694,524 | 868,428 | $ 1,035,354 | |||
Investment Securities Available for Sale | 413,294 | 416,745 | 601,405 | 624,361 | ||||
Investment Securities, Held to Maturity | 660,744 | 676,178 | 528,258 | 518,678 | ||||
Other Equity Securities | 10 | 1,349 | 900 | 855 | ||||
Total Investment Securities | 1,074,048 | 1,094,272 | 1,130,563 | 1,143,894 | ||||
Loans Held for Sale | 54,635 | 50,304 | 48,708 | 50,815 | ||||
Loans, Net of Unearned Income | 2,525,180 | 2,346,185 | 2,213,653 | 1,985,509 | ||||
Allowance for Loan Losses | (24,736) | (22,510) | (21,281) | (20,756) | ||||
Loans Held for Investment, Net | 2,500,444 | 2,323,675 | 2,192,372 | 1,964,753 | ||||
Premises and Equipment, Net | 82,138 | 81,736 | 82,932 | 82,518 | ||||
Goodwill | 93,093 | 93,133 | 93,173 | 93,213 | ||||
Other Real Estate Owned | 431 | 13 | 90 | 17 | ||||
Other Assets | 120,519 | 119,173 | 111,935 | 106,407 | ||||
Total Assets | 4,525,958 | 4,332,671 | 4,354,297 | 4,310,045 | ||||
Noninterest Bearing Deposits | 1,653,620 | 1,737,046 | 1,724,671 | 1,704,329 | ||||
Interest Bearing Deposits | 2,285,697 | 2,022,332 | 2,061,587 | 2,061,178 | ||||
Total Deposits | 3,939,317 | 3,759,378 | 3,786,258 | 3,765,507 | ||||
Short-Term Borrowings | 56,793 | 52,271 | 39,463 | 30,865 | ||||
Subordinated Notes Payable | 52,887 | 52,887 | 52,887 | 52,887 | ||||
Other Long-Term Borrowings | 513 | 562 | 612 | 806 | ||||
Other Liabilities | 73,675 | 84,657 | 93,319 | 77,323 | ||||
Total Liabilities | 4,123,185 | 3,949,755 | 3,972,539 | 3,927,388 | ||||
Temporary Equity | 8,757 | 9,751 | 10,083 | 10,512 | ||||
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 | 170 | 170 | 170 | 169 | ||||
Additional Paid-In Capital | 37,331 | 36,234 | 35,738 | 35,188 | ||||
Retained Earnings | 393,744 | 384,964 | 376,532 | 370,531 | ||||
Accumulated Other Comprehensive Loss, Net of Tax | (37,229) | (48,203) | (40,765) | (33,743) | ||||
Total Shareowners' Equity | 394,016 | 373,165 | 371,675 | 372,145 | $ 383,166 | |||
Total Liabilities, Temporary Equity, and Shareowners' Equity | $ 4,525,958 | $ 4,332,671 | $ 4,354,297 | $ 4,310,045 | ||||
Common Stock, outstanding | 16,986,785 | 16,961,812 | 16,959,280 | 16,947,602 | 16,892,060 | |||
Restatement Adjustment [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Cash and Due From Banks | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Federal Funds Sold and Interest Bearing Deposits | 0 | 0 | 0 | 0 | ||||
Total Cash and Cash Equivalents | 0 | 0 | 0 | 0 | $ 0 | |||
Investment Securities Available for Sale | 0 | 0 | 0 | 0 | ||||
Investment Securities, Held to Maturity | 0 | 0 | 0 | 0 | ||||
Other Equity Securities | 0 | 0 | 0 | 0 | ||||
Total Investment Securities | 0 | 0 | 0 | 0 | ||||
Loans Held for Sale | (27,726) | (27,142) | (23,722) | (4,559) | ||||
Loans, Net of Unearned Income | 22,505 | 23,600 | 21,599 | 3,151 | ||||
Allowance for Loan Losses | (332) | (237) | (182) | (32) | ||||
Loans Held for Investment, Net | 22,173 | 23,363 | 21,417 | 3,119 | ||||
Premises and Equipment, Net | 0 | 0 | 0 | 0 | ||||
Goodwill | 0 | 0 | 0 | 0 | ||||
Other Real Estate Owned | 0 | 0 | 0 | 0 | ||||
Other Assets | (1,182) | (901) | (665) | (77) | ||||
Total Assets | (6,735) | (4,680) | (2,970) | (1,517) | ||||
Noninterest Bearing Deposits | 0 | 0 | 0 | 0 | ||||
Interest Bearing Deposits | 0 | 0 | 0 | 0 | ||||
Total Deposits | 0 | 0 | 0 | 0 | ||||
Short-Term Borrowings | 0 | 0 | 0 | 0 | ||||
Subordinated Notes Payable | 0 | 0 | 0 | 0 | ||||
Other Long-Term Borrowings | 0 | 0 | 0 | 0 | ||||
Other Liabilities | 0 | 0 | 0 | 0 | ||||
Total Liabilities | 0 | 0 | 0 | 0 | ||||
Temporary Equity | 0 | 0 | 0 | 0 | ||||
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 | 0 | 0 | 0 | 0 | ||||
Additional Paid-In Capital | 0 | 0 | 0 | 0 | ||||
Retained Earnings | (6,735) | (4,680) | (2,970) | (1,517) | ||||
Accumulated Other Comprehensive Loss, Net of Tax | 0 | 0 | 0 | 0 | ||||
Total Shareowners' Equity | (6,735) | (4,680) | (2,970) | (1,517) | ||||
Total Liabilities, Temporary Equity, and Shareowners' Equity | $ (6,735) | $ (4,680) | $ (2,970) | $ (1,517) |
SIGNIFICANT ACCOUNTING POLICI_6
SIGNIFICANT ACCOUNTING POLICIES - (Restatment Impact of Consolidated Statement of Operations) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Loans, Including Fees | $ 27,839 | $ 24,268 | $ 22,429 | $ 46,697 | $ 74,536 | $ 106,444 | $ 96,561 | $ 94,752 |
Taxable Securities | 4,360 | 3,833 | 2,890 | 6,723 | 11,083 | 15,917 | 8,724 | 10,176 |
Tax Exempt Securities | 12 | 7 | 6 | 13 | 25 | 38 | 68 | 98 |
Funds Sold | 3,231 | 1,408 | 409 | 1,817 | 5,048 | 9,511 | 998 | 1,171 |
Total Interest Income | 35,442 | 29,516 | 25,734 | 55,250 | 90,692 | 131,910 | 106,351 | 106,197 |
Deposits | 1,052 | 266 | 224 | 490 | 1,542 | 3,444 | 839 | 1,548 |
Short-Term Borrowings | 536 | 343 | 192 | 535 | 1,071 | 1,761 | 1,360 | 1,690 |
Subordinated Notes Payable | 443 | 370 | 317 | 687 | 1,130 | 1,652 | 1,228 | 1,472 |
Other Long-Term Borrowings | 6 | 8 | 9 | 17 | 23 | 31 | 63 | 161 |
Total Interest Expense | 2,037 | 987 | 742 | 1,729 | 3,766 | 6,888 | 3,490 | 4,871 |
NET INTEREST INCOME | 33,405 | 28,529 | 24,992 | 53,521 | 86,926 | 125,022 | 102,861 | 101,326 |
Provision for Loan Losses | 2,154 | 1,692 | 32 | 1,724 | 3,878 | 7,494 | (1,553) | 9,645 |
Net Interest Income After Provision for Credit Losses | 31,251 | 26,837 | 24,960 | 51,797 | 83,048 | 117,528 | 104,414 | 91,681 |
Other | 1,870 | 1,823 | 1,733 | 3,556 | 5,426 | 7,691 | 7,271 | 5,942 |
Total Noninterest Income | 18,509 | 20,564 | 20,812 | 41,376 | 59,885 | 75,181 | 107,545 | 111,165 |
Compensation | 22,967 | 23,222 | 22,298 | 45,520 | 68,487 | 91,519 | 101,470 | 96,280 |
Occupancy, Net | 6,153 | 6,075 | 6,093 | 12,168 | 18,321 | 24,574 | 23,932 | 22,659 |
Other | 8,579 | 16,985 | 25,564 | 35,541 | 37,106 | 31,023 | ||
Total Noninterest Expense | 37,699 | 38,150 | 36,523 | 74,673 | 112,372 | 151,634 | 162,508 | 149,962 |
INCOME BEFORE INCOME TAXES | 12,061 | 9,251 | 9,249 | 18,500 | 30,561 | 41,075 | 49,451 | 52,884 |
Income Tax Benefit | 2,493 | 1,685 | 1,720 | 3,405 | 5,898 | 7,798 | 9,835 | 10,230 |
NET INCOME | 9,568 | 7,566 | 7,529 | 15,095 | 24,663 | 33,277 | 39,616 | 42,654 |
Loss (Income) Attributable to Noncontrolling Interests | (37) | 306 | 591 | 897 | 860 | 135 | (6,220) | (11,078) |
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 |
BASIC NET INCOME PER SHARE (in dollars per share) | $ 0.57 | $ 0.43 | $ 0.41 | $ 0.84 | $ 1.40 | $ 1.97 | $ 1.98 | $ 1.88 |
DILUTED NET INCOME PER SHARE (in dollars per share) | $ 0.57 | $ 0.43 | $ 0.41 | $ 0.84 | $ 1.40 | $ 1.97 | $ 1.98 | $ 1.88 |
Average Basic Common Shares Outstanding (in shares) | 16,960 | 16,949 | 16,931 | 16,940 | 16,947 | 16,951 | 16,863 | 16,785 |
Average Diluted Common Shares Outstanding (in shares) | 16,996 | 16,971 | 16,946 | 16,958 | 16,973 | 16,985 | 16,893 | 16,822 |
Deposit fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | $ 5,947 | $ 5,447 | $ 5,191 | $ 10,638 | $ 16,585 | $ 22,121 | $ 18,882 | $ 17,800 |
Bank card fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 3,860 | 4,034 | 3,763 | 7,797 | 11,657 | 15,401 | 15,274 | 13,044 |
Wealth management fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 3,937 | 4,403 | 6,070 | 10,473 | 14,410 | 18,059 | 13,693 | 11,035 |
Mortgage Banking Revenues [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 2,895 | 4,857 | 4,055 | 8,912 | 11,807 | 11,909 | $ 52,425 | $ 63,344 |
Scenario Previously Reported [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Loans, Including Fees | 27,761 | 24,072 | 22,133 | 46,205 | 73,966 | 105,882 | ||
Taxable Securities | 4,360 | 3,833 | 2,890 | 6,723 | 11,083 | 15,917 | ||
Tax Exempt Securities | 12 | 7 | 6 | 13 | 25 | 38 | ||
Funds Sold | 3,231 | 1,408 | 409 | 1,817 | 5,048 | 9,511 | ||
Total Interest Income | 35,364 | 29,320 | 25,438 | 54,758 | 90,122 | 131,348 | ||
Deposits | 1,052 | 266 | 224 | 490 | 1,542 | 3,444 | ||
Short-Term Borrowings | 536 | 343 | 192 | 535 | 1,071 | 1,761 | ||
Subordinated Notes Payable | 443 | 370 | 317 | 687 | 1,130 | 1,652 | ||
Other Long-Term Borrowings | 6 | 8 | 9 | 17 | 23 | 31 | ||
Total Interest Expense | 2,037 | 987 | 742 | 1,729 | 3,766 | 6,888 | ||
NET INTEREST INCOME | 33,327 | 28,333 | 24,696 | 53,029 | 86,356 | 124,460 | ||
Provision for Loan Losses | 2,099 | 1,542 | 0 | 1,542 | 3,641 | 7,162 | ||
Net Interest Income After Provision for Credit Losses | 31,228 | 26,791 | 24,696 | 51,487 | 82,715 | 117,298 | ||
Other | 2,074 | 1,954 | 1,848 | 3,802 | 5,876 | 8,422 | ||
Total Noninterest Income | 22,934 | 24,903 | 25,818 | 50,721 | 73,655 | 94,627 | ||
Compensation | 24,738 | 25,383 | 24,856 | 50,239 | 74,977 | 100,542 | ||
Occupancy, Net | 6,153 | 6,075 | 6,093 | 12,168 | 18,321 | 24,574 | ||
Other | 8,919 | 8,900 | 8,050 | 17,324 | 26,243 | 36,712 | ||
Total Noninterest Expense | 39,810 | 40,498 | 39,233 | 79,731 | 119,541 | 161,828 | ||
INCOME BEFORE INCOME TAXES | 14,352 | 11,196 | 11,281 | 22,477 | 36,829 | 50,097 | ||
Income Tax Benefit | 3,074 | 2,177 | 2,235 | 4,412 | 7,486 | 10,085 | ||
NET INCOME | 11,278 | 9,019 | 9,046 | 18,065 | 29,343 | 40,012 | ||
Loss (Income) Attributable to Noncontrolling Interests | (37) | 306 | 591 | 897 | 860 | 135 | ||
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ 11,315 | $ 8,713 | $ 8,455 | $ 17,168 | $ 28,483 | $ 40,147 | ||
BASIC NET INCOME PER SHARE (in dollars per share) | $ 0.67 | $ 0.51 | $ 0.50 | $ 1.01 | $ 1.68 | $ 2.37 | ||
DILUTED NET INCOME PER SHARE (in dollars per share) | $ 0.67 | $ 0.51 | $ 0.50 | $ 1.01 | $ 1.68 | $ 2.36 | ||
Average Basic Common Shares Outstanding (in shares) | 16,960 | 16,949 | 16,931 | 16,940 | 16,947 | 16,951 | ||
Average Diluted Common Shares Outstanding (in shares) | 16,996 | 16,971 | 16,946 | 16,958 | 16,973 | 16,985 | ||
Scenario Previously Reported [Member] | Deposit fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | $ 5,947 | $ 5,447 | $ 5,191 | $ 10,638 | $ 16,585 | $ 22,121 | ||
Scenario Previously Reported [Member] | Bank card fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 3,860 | 4,034 | 3,763 | 7,797 | 11,657 | 15,401 | ||
Scenario Previously Reported [Member] | Wealth management fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 3,937 | 4,403 | 6,070 | 10,473 | 14,410 | 18,059 | ||
Scenario Previously Reported [Member] | Mortgage Banking Revenues [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 7,116 | 9,065 | 8,946 | 18,011 | 25,127 | 30,624 | ||
Restatement Adjustment [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Loans, Including Fees | 78 | 196 | 296 | 492 | 570 | 562 | ||
Taxable Securities | 0 | 0 | 0 | 0 | 0 | 0 | ||
Tax Exempt Securities | 0 | 0 | 0 | 0 | 0 | 0 | ||
Funds Sold | 0 | 0 | 0 | 0 | 0 | 0 | ||
Total Interest Income | 78 | 196 | 296 | 492 | 570 | 562 | ||
Deposits | 0 | 0 | 0 | 0 | 0 | 0 | ||
Short-Term Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | ||
Subordinated Notes Payable | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other Long-Term Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | ||
Total Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | ||
NET INTEREST INCOME | 78 | 196 | 296 | 492 | 570 | 562 | ||
Provision for Loan Losses | 55 | 150 | 32 | 182 | 237 | 332 | ||
Net Interest Income After Provision for Credit Losses | 23 | 46 | 264 | 310 | 333 | 230 | ||
Other | (204) | (131) | (115) | (246) | (450) | (731) | ||
Total Noninterest Income | (4,425) | (4,339) | (5,006) | (9,345) | (13,770) | (19,446) | ||
Compensation | (1,771) | (2,161) | (2,558) | (4,719) | (6,490) | (9,023) | ||
Occupancy, Net | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other | (340) | (187) | (152) | (339) | (679) | (1,171) | ||
Total Noninterest Expense | (2,111) | (2,348) | (2,710) | (5,058) | (7,169) | (10,194) | ||
INCOME BEFORE INCOME TAXES | (2,291) | (1,945) | (2,032) | (3,977) | (6,268) | (9,022) | ||
Income Tax Benefit | (581) | (492) | (515) | (1,007) | (1,588) | (2,287) | ||
NET INCOME | (1,710) | (1,453) | (1,517) | (2,970) | (4,680) | (6,735) | ||
Loss (Income) Attributable to Noncontrolling Interests | 0 | 0 | 0 | 0 | 0 | 0 | ||
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ (1,710) | $ (1,453) | $ (1,517) | $ (2,970) | $ (4,680) | $ (6,735) | ||
BASIC NET INCOME PER SHARE (in dollars per share) | $ (0.10) | $ (0.08) | $ (0.09) | $ (0.17) | $ (0.28) | $ (0.40) | ||
DILUTED NET INCOME PER SHARE (in dollars per share) | $ (0.10) | $ (0.08) | $ (0.09) | $ (0.17) | $ (0.28) | $ (0.39) | ||
Average Basic Common Shares Outstanding (in shares) | 0 | 0 | 0 | 0 | 0 | 0 | ||
Average Diluted Common Shares Outstanding (in shares) | 0 | 0 | 0 | 0 | 0 | 0 | ||
Restatement Adjustment [Member] | Deposit fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Restatement Adjustment [Member] | Bank card fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 0 | 0 | 0 | 0 | 0 | 0 | ||
Restatement Adjustment [Member] | Wealth management fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 0 | 0 | 0 | 0 | 0 | 0 | ||
Restatement Adjustment [Member] | Mortgage Banking Revenues [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | $ (4,221) | $ (4,208) | $ (4,891) | $ (9,099) | $ (13,320) | $ (18,715) |
SIGNIFICANT ACCOUNTING POLICI_7
SIGNIFICANT ACCOUNTING POLICIES - (Restatment Impact of Consolidated Statement of Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
NET INCOME | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 |
Change in net unrealized (loss) gain on securities available for sale | (2,618) | (10,714) | (25,445) | (36,158) | (38,778) | (35,814) | (9,673) | 2,437 |
Unrealized losses on securities transferred from available for sale to held to maturity | (9,384) | 0 | 0 | (9,384) | (9,384) | 0 | 0 | |
Amortization of unrealized losses on securities transferred from available for sale to held to maturity | 586 | 0 | 0 | 586 | 1,469 | 26 | 36 | |
Total Investment Securities | (11,416) | (10,714) | (25,445) | (43,729) | ||||
Change in net unrealized gain on effective cash flow derivative | 1,407 | 1,161 | 1,836 | 2,997 | 4,403 | 4,146 | 1,476 | 574 |
Reclassification adjustment for amortization of prior service cost | 292 | 234 | (880) | |||||
Reclassification adjustment for amortization of net loss | 4,752 | 10,806 | 4,391 | |||||
Defined benefit plan settlement | 102 | 169 | 209 | 378 | 480 | 2,321 | 3,072 | 0 |
Current year actuarial gain (loss) | 4,223 | 31,339 | (27,924) | |||||
Total Benefit Plans | 102 | 169 | 209 | 378 | 480 | 11,588 | 45,451 | (24,413) |
Other comprehensive (loss) income, before tax: | (9,907) | (9,384) | (23,400) | (32,783) | (42,693) | (27,995) | 37,280 | (21,366) |
Deferred tax (expense) benefit related to other comprehensive income | 2,469 | 2,362 | 5,871 | 8,232 | 10,704 | 6,980 | (9,352) | 5,405 |
Other comprehensive (loss) income, net of tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | 27,928 | (15,961) |
TOTAL COMPREHENSIVE INCOME | 2,167 | 238 | (10,591) | (10,353) | (8,186) | 12,397 | $ 61,324 | $ 15,615 |
Scenario Previously Reported [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
NET INCOME | 11,315 | 8,713 | 8,455 | 17,168 | 28,483 | 40,147 | ||
Change in net unrealized (loss) gain on securities available for sale | (2,618) | (10,714) | (25,445) | (36,158) | (38,778) | (35,814) | ||
Unrealized losses on securities transferred from available for sale to held to maturity | (9,384) | (9,384) | (9,384) | |||||
Amortization of unrealized losses on securities transferred from available for sale to held to maturity | 586 | 586 | 1,469 | |||||
Total Investment Securities | (43,729) | |||||||
Change in net unrealized gain on effective cash flow derivative | 1,407 | 1,161 | 1,836 | 2,997 | 4,403 | 4,146 | ||
Reclassification adjustment for amortization of prior service cost | 292 | |||||||
Reclassification adjustment for amortization of net loss | 4,752 | |||||||
Defined benefit plan settlement | 102 | 169 | 209 | 378 | 480 | 2,321 | ||
Current year actuarial gain (loss) | 4,223 | |||||||
Total Benefit Plans | 102 | 169 | 209 | 378 | 480 | 11,588 | ||
Other comprehensive (loss) income, before tax: | (9,907) | (9,384) | (23,400) | (32,783) | (42,693) | (27,995) | ||
Deferred tax (expense) benefit related to other comprehensive income | 2,469 | 2,362 | 5,871 | 8,232 | 10,704 | 6,980 | ||
Other comprehensive (loss) income, net of tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | ||
TOTAL COMPREHENSIVE INCOME | 3,877 | 1,691 | (9,074) | (7,383) | (3,506) | 19,132 | ||
Restatement Adjustment [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
NET INCOME | (1,710) | (1,453) | (1,517) | (2,970) | (4,680) | (6,735) | ||
Change in net unrealized (loss) gain on securities available for sale | 0 | 0 | 0 | 0 | 0 | 0 | ||
Unrealized losses on securities transferred from available for sale to held to maturity | 0 | 0 | 0 | |||||
Amortization of unrealized losses on securities transferred from available for sale to held to maturity | 0 | 0 | 0 | |||||
Total Investment Securities | 0 | |||||||
Change in net unrealized gain on effective cash flow derivative | 0 | 0 | 0 | 0 | 0 | 0 | ||
Reclassification adjustment for amortization of prior service cost | 0 | |||||||
Reclassification adjustment for amortization of net loss | 0 | |||||||
Defined benefit plan settlement | 0 | 0 | 0 | 0 | 0 | 0 | ||
Current year actuarial gain (loss) | 0 | |||||||
Total Benefit Plans | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other comprehensive (loss) income, before tax: | 0 | 0 | 0 | 0 | 0 | 0 | ||
Deferred tax (expense) benefit related to other comprehensive income | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other comprehensive (loss) income, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | ||
TOTAL COMPREHENSIVE INCOME | $ (1,710) | $ (1,453) | $ (1,517) | $ (2,970) | $ (4,680) | $ (6,735) |
SIGNIFICANT ACCOUNTING POLICI_8
SIGNIFICANT ACCOUNTING POLICIES - (Restatment Impact of Consolidated Statement of Changes in Shareholders' Equity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | $ 368,705 | $ 370,628 | $ 383,166 | $ 383,166 | $ 383,166 | $ 383,166 | $ 327,016 | ||
Balance beginning (in shares) | 16,959,280 | 16,947,602 | 16,892,060 | 16,892,060 | 16,892,060 | 16,892,060 | 16,790,573 | 16,771,544 | |
Net Income (Loss) | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 | |
Reclassification to Temporary Equity | 9,323 | [1] | (9,323) | ||||||
Other Comprehensive (Income) Loss, Net of Tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | 27,928 | (15,961) | |
Cash Dividends | (2,883) | (2,712) | (2,712) | (5,424) | (8,307) | (11,191) | (10,459) | (9,567) | |
Stock Based Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | 843 | 892 | |
Stock Compensation Plan Transactions, net | $ 81 | $ 307 | $ 520 | $ 827 | $ 908 | $ 1,279 | $ 1,298 | 1,341 | |
Stock Compensation Plan Transactions, net (in shares) | 2,532 | 11,678 | 55,542 | 67,220 | 69,752 | 94,725 | 101,487 | ||
Repurchase of Common Stock | $ (2,042) | ||||||||
Balance ending | $ 368,485 | $ 368,705 | $ 370,628 | $ 368,705 | $ 368,485 | $ 387,281 | $ 383,166 | ||
Balance ending (in shares) | 16,961,812 | 16,959,280 | 16,947,602 | 16,959,280 | 16,961,812 | 16,986,785 | 16,892,060 | 16,790,573 | |
Cash Dividends (in dollars per share) | $ 0.16 | $ 0.16 | $ 0.16 | $ 0.32 | $ 0.49 | $ 0.66 | $ 0.62 | $ 0.57 | |
Impact Of Adoption Of ASC 326 [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | $ 320,837 | $ (3,095) | |||||||
Balance ending | 320,837 | ||||||||
Common Stock [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | $ 170 | $ 169 | $ 169 | $ 169 | $ 169 | $ 169 | 168 | ||
Balance beginning (in shares) | 16,892,060 | 16,892,060 | 16,892,060 | 16,892,060 | |||||
Net Income (Loss) | $ 0 | 0 | 0 | ||||||
Reclassification to Temporary Equity | 0 | [1] | 0 | ||||||
Other Comprehensive (Income) Loss, Net of Tax | 0 | 0 | 0 | ||||||
Cash Dividends | 0 | 0 | 0 | ||||||
Stock Based Compensation | 0 | 0 | 0 | ||||||
Stock Compensation Plan Transactions, net | 1 | $ 1 | $ 1 | $ 1 | $ 1 | $ 1 | |||
Stock Compensation Plan Transactions, net (in shares) | 94,725 | 101,487 | 118,981 | ||||||
Repurchase of Common Stock | $ (1) | ||||||||
Repurchase of Common Stock (in shares) | (99,952,000) | ||||||||
Balance ending | 170 | 170 | $ 169 | 170 | 170 | $ 170 | $ 169 | ||
Balance ending (in shares) | 16,986,785 | 16,892,060 | |||||||
Common Stock [Member] | Impact Of Adoption Of ASC 326 [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | $ 168 | $ 0 | |||||||
Balance ending | 168 | ||||||||
Additional Paid-In Capital [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | 35,738 | 35,188 | 34,423 | 34,423 | 34,423 | $ 34,423 | 32,092 | ||
Net Income (Loss) | 0 | 0 | 0 | ||||||
Reclassification to Temporary Equity | 0 | [1] | 0 | ||||||
Other Comprehensive (Income) Loss, Net of Tax | 0 | 0 | 0 | ||||||
Cash Dividends | 0 | 0 | 0 | ||||||
Stock Based Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | 843 | 892 | |
Stock Compensation Plan Transactions, net | 81 | 306 | 520 | 826 | 907 | 1,278 | 1,297 | 1,340 | |
Repurchase of Common Stock | (2,041) | ||||||||
Balance ending | 36,234 | 35,738 | 35,188 | 35,738 | 36,234 | 37,331 | 34,423 | ||
Additional Paid-In Capital [Member] | Impact Of Adoption Of ASC 326 [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | 32,283 | 0 | |||||||
Balance ending | 32,283 | ||||||||
Retained Earnings [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | 373,562 | 369,014 | 364,788 | 364,788 | 364,788 | 364,788 | 322,937 | ||
Net Income (Loss) | 9,605 | 7,260 | 6,938 | 14,198 | 23,803 | 33,412 | 33,396 | 31,576 | |
Reclassification to Temporary Equity | 9,323 | [1] | (9,323) | ||||||
Other Comprehensive (Income) Loss, Net of Tax | 0 | 0 | 0 | ||||||
Cash Dividends | (2,883) | (2,712) | (2,712) | (5,424) | (8,307) | (11,191) | (10,459) | (9,567) | |
Stock Based Compensation | 0 | 0 | 0 | ||||||
Stock Compensation Plan Transactions, net | 0 | 0 | 0 | ||||||
Repurchase of Common Stock | 0 | ||||||||
Balance ending | 380,284 | 373,562 | 369,014 | 373,562 | 380,284 | 387,009 | 364,788 | ||
Retained Earnings [Member] | Impact Of Adoption Of ASC 326 [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | 332,528 | (3,095) | |||||||
Balance ending | 332,528 | ||||||||
Accumulated Other Comprehensive (Loss) Income [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | (40,765) | (33,743) | (16,214) | (16,214) | (16,214) | (16,214) | (28,181) | ||
Net Income (Loss) | 0 | 0 | 0 | ||||||
Reclassification to Temporary Equity | 0 | [1] | 0 | ||||||
Other Comprehensive (Income) Loss, Net of Tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | 27,928 | (15,961) | |
Cash Dividends | 0 | 0 | 0 | ||||||
Stock Based Compensation | 0 | 0 | 0 | ||||||
Stock Compensation Plan Transactions, net | 0 | 0 | 0 | ||||||
Repurchase of Common Stock | 0 | ||||||||
Balance ending | (48,203) | (40,765) | (33,743) | (40,765) | (48,203) | (37,229) | (16,214) | ||
Accumulated Other Comprehensive (Loss) Income [Member] | Impact Of Adoption Of ASC 326 [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | (44,142) | 0 | |||||||
Balance ending | $ (44,142) | ||||||||
Scenario Previously Reported [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | $ 371,675 | $ 372,145 | $ 383,166 | $ 383,166 | $ 383,166 | $ 383,166 | |||
Balance beginning (in shares) | 16,959,280 | 16,947,602 | 16,892,060 | 16,892,060 | 16,892,060 | 16,892,060 | |||
Net Income (Loss) | $ 11,315 | $ 8,713 | $ 8,455 | $ 17,168 | $ 28,483 | $ 40,147 | |||
Other Comprehensive (Income) Loss, Net of Tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | |||
Cash Dividends | (2,883) | (2,712) | (2,712) | (5,424) | (8,307) | (11,191) | |||
Stock Based Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | |||
Stock Compensation Plan Transactions, net | $ 81 | $ 307 | $ 520 | $ 827 | $ 908 | $ 1,279 | |||
Stock Compensation Plan Transactions, net (in shares) | 2,532 | 11,678 | 55,542 | 67,220 | 69,752 | 94,725 | |||
Balance ending | $ 373,165 | $ 371,675 | $ 372,145 | $ 371,675 | $ 373,165 | $ 394,016 | $ 383,166 | ||
Balance ending (in shares) | 16,961,812 | 16,959,280 | 16,947,602 | 16,959,280 | 16,961,812 | 16,986,785 | 16,892,060 | ||
Scenario Previously Reported [Member] | Common Stock [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | $ 170 | $ 169 | $ 169 | $ 169 | $ 169 | $ 169 | |||
Stock Compensation Plan Transactions, net | 0 | 1 | 1 | 1 | 1 | ||||
Balance ending | 170 | 170 | 169 | 170 | 170 | 170 | $ 169 | ||
Scenario Previously Reported [Member] | Additional Paid-In Capital [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | 35,738 | 35,188 | 34,423 | 34,423 | 34,423 | 34,423 | |||
Stock Based Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | |||
Stock Compensation Plan Transactions, net | 81 | 306 | 520 | 826 | 907 | 1,278 | |||
Balance ending | 36,234 | 35,738 | 35,188 | 35,738 | 36,234 | 37,331 | 34,423 | ||
Scenario Previously Reported [Member] | Retained Earnings [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | 376,532 | 370,531 | 364,788 | 364,788 | 364,788 | 364,788 | |||
Net Income (Loss) | 11,315 | 8,713 | 8,455 | 17,168 | 28,483 | 40,147 | |||
Cash Dividends | (2,883) | (2,712) | (2,712) | (5,424) | (8,307) | (11,191) | |||
Balance ending | 384,964 | 376,532 | 370,531 | 376,532 | 384,964 | 393,744 | 364,788 | ||
Scenario Previously Reported [Member] | Accumulated Other Comprehensive (Loss) Income [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | (40,765) | (33,743) | (16,214) | (16,214) | (16,214) | (16,214) | |||
Other Comprehensive (Income) Loss, Net of Tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | |||
Balance ending | (48,203) | (40,765) | (33,743) | (40,765) | (48,203) | (37,229) | $ (16,214) | ||
Restatement Adjustment [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | (2,970) | (1,517) | |||||||
Net Income (Loss) | (1,710) | (1,453) | (1,517) | (2,970) | (4,680) | (6,735) | |||
Stock Based Compensation | 0 | 0 | 0 | 0 | |||||
Balance ending | (4,680) | (2,970) | (1,517) | (2,970) | (4,680) | (6,735) | |||
Restatement Adjustment [Member] | Retained Earnings [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | (2,970) | (1,517) | |||||||
Net Income (Loss) | (1,710) | (1,453) | (1,517) | (2,970) | (4,680) | (6,735) | |||
Balance ending | $ (4,680) | $ (2,970) | $ (1,517) | $ (2,970) | $ (4,680) | $ (6,735) | |||
[1] (1) Adjustments to redemption value for non-controlling interest in CCHL |
SIGNIFICANT ACCOUNTING POLICI_9
SIGNIFICANT ACCOUNTING POLICIES - (Restatment Impact of Consolidated Statement of Cash Flows) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Net Income Attributable to Common Shareowners | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 |
Provision for Credit Losses | 2,154 | 1,692 | 32 | 1,724 | 3,878 | 7,494 | (1,553) | 9,645 |
Depreciation | 1,907 | 3,802 | 5,689 | 7,596 | 7,607 | 7,230 | ||
Amortization of Premiums, Discounts, and Fees, net | 2,610 | 5,053 | 6,618 | 7,772 | 14,072 | 7,533 | ||
Amortization of Intangible Assets | 40 | 80 | 120 | 160 | 107 | 0 | ||
Pension Settlement Charges | 169 | 209 | 378 | 480 | 2,321 | 3,072 | 0 | |
Originations of Loans Held for Sale | (242,253) | (549,018) | (772,089) | (996,312) | (1,541,356) | (606,337) | ||
Proceeds From Sales of Loans Held-for-Sale | 252,584 | 585,476 | 813,267 | 1,033,844 | 1,655,288 | 565,151 | ||
Mortgage Banking Revenues | (4,055) | (8,912) | (11,807) | (11,909) | ||||
Net Decrease for Capitalized Mortgage Servicing Rights | 364 | 360 | 570 | 726 | 72 | (2,792) | ||
Stock Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | 843 | 892 |
Net Tax Benefit from Stock Compensation | (19) | (19) | (19) | (27) | (4) | (84) | ||
Deferred Income Taxes (Benefit) | (6,682) | (9,887) | (12,854) | (3,870) | (4,157) | (53) | ||
Net Change in Operating Leases | (27) | (72) | (83) | (108) | (165) | (156) | ||
Net Gain (Loss) on Sales and Write-Downs of Other Real Estate Owned | 0 | (26) | (136) | (422) | (1,662) | (393) | ||
Net Decrease (Increase) in Other Assets | 1,897 | 3,516 | 3,696 | (8,636) | 10,885 | (38,353) | ||
Net (Decrease) Increase in Other Liabilities | 7,036 | 22,040 | 12,839 | 8,837 | (7,846) | 40,624 | ||
Net Cash Provided By (Used In) Operating Activities | 20,826 | 69,182 | 74,876 | 82,508 | 115,924 | (48,611) | ||
Purchases | (194,448) | (218,548) | (219,865) | (219,865) | (251,525) | (32,250) | ||
Payments, Maturities, and Calls | 14,441 | 28,111 | 40,096 | 55,314 | 78,544 | 99,251 | ||
Purchases | (25,139) | (37,044) | (41,880) | (52,238) | (523,961) | (108,728) | ||
Proceeds from the Sale of Securities | 3,365 | 3,365 | 3,365 | 3,365 | 495 | 0 | ||
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities | 24,824 | 47,413 | 64,301 | 81,596 | 178,425 | 186,499 | ||
Purchases of Loans Held for Investment | (26,713) | (174,779) | (329,481) | (438,415) | (114,913) | (43,804) | ||
Net (Increase) Decrease in Loans | (31,260) | (130,913) | (113,116) | (184,349) | 183,249 | (130,020) | ||
Proceeds From Sales of Other Real Estate Owned | 0 | 30 | 1,683 | 2,406 | 4,502 | 2,835 | ||
Purchases of Premises and Equipment, net | (1,013) | (3,322) | (4,013) | (6,322) | (5,193) | (9,738) | ||
Noncontrolling Interest Contributions | 1,838 | 2,573 | 2,867 | 2,867 | 7,139 | 5,766 | ||
Net Cash Used In Investing Activities | (234,105) | (483,114) | (596,043) | (755,641) | (447,720) | (32,594) | ||
Net Increase in Deposits | 52,645 | 73,396 | 46,516 | 226,455 | 495,302 | 572,106 | ||
Net Increase (Decrease) in Short-Term Borrowings | (3,692) | 4,784 | 17,592 | 22,114 | (45,938) | 73,156 | ||
Repayment of Other Long-Term Borrowings | (78) | (150) | (200) | (249) | (1,332) | (3,363) | ||
Dividends Paid | (2,712) | (5,424) | (8,307) | (11,191) | (10,459) | (9,567) | ||
Issuance of Common Stock Under Compensation Plans | 190 | 496 | 577 | (1,300) | (1,028) | (1,041) | ||
Net Cash Provided By Financing Activities | 46,353 | 73,102 | 56,178 | 238,429 | 438,601 | 631,331 | ||
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (166,926) | (340,830) | (464,989) | (434,704) | 106,805 | 550,126 | ||
Cash at Beginning of Year | 694,524 | 868,428 | 1,035,354 | 1,035,354 | 1,035,354 | 1,035,354 | 928,549 | 378,423 |
Cash at End of Year | 570,365 | 694,524 | 868,428 | 694,524 | 570,365 | 600,650 | 1,035,354 | 928,549 |
Interest Paid | 715 | 1,617 | 3,588 | 6,586 | 3,547 | 4,841 | ||
Income Taxes Paid | 20 | 3,765 | 6,410 | 7,466 | 16,339 | 9,171 | ||
Loans and Premises Transferred to Other Real Estate Owned | 0 | 77 | 1,543 | 2,398 | 1,717 | $ 2,297 | ||
Scenario Previously Reported [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Net Income Attributable to Common Shareowners | 11,315 | 8,713 | 8,455 | 17,168 | 28,483 | 40,147 | ||
Provision for Credit Losses | 2,099 | 1,542 | 0 | 1,542 | 3,641 | 7,162 | ||
Depreciation | 1,907 | 3,802 | 5,689 | 7,596 | ||||
Amortization of Premiums, Discounts, and Fees, net | 2,907 | 5,545 | 7,190 | 8,333 | ||||
Amortization of Intangible Assets | 40 | 80 | 120 | 160 | ||||
Pension Settlement Charges | 169 | 209 | 378 | 480 | 2,321 | |||
Originations of Loans Held for Sale | (246,887) | (573,239) | (799,482) | (1,024,526) | ||||
Proceeds From Sales of Loans Held-for-Sale | 257,550 | 595,074 | 826,837 | 1,053,047 | ||||
Mortgage Banking Revenues | (8,946) | (18,011) | (25,127) | (30,624) | ||||
Net Decrease for Capitalized Mortgage Servicing Rights | 227 | 1,358 | (1,921) | (2,742) | ||||
Stock Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | ||
Net Tax Benefit from Stock Compensation | (19) | (19) | (19) | (27) | ||||
Deferred Income Taxes (Benefit) | (6,167) | (8,879) | (11,265) | (1,583) | ||||
Net Change in Operating Leases | (27) | (72) | (83) | (108) | ||||
Net Gain (Loss) on Sales and Write-Downs of Other Real Estate Owned | (26) | (136) | (422) | |||||
Net Decrease (Increase) in Other Assets | 1,441 | 845 | 3,696 | (8,636) | ||||
Net (Decrease) Increase in Other Liabilities | 7,036 | 22,040 | 12,839 | 8,837 | ||||
Net Cash Provided By (Used In) Operating Activities | 17,971 | 48,075 | 51,846 | 60,565 | ||||
Purchases | (194,448) | (218,548) | (219,865) | (219,865) | ||||
Payments, Maturities, and Calls | 14,441 | 28,111 | 40,096 | 55,314 | ||||
Purchases | (25,139) | (37,044) | (41,880) | (52,238) | ||||
Proceeds from the Sale of Securities | 3,365 | 3,365 | 3,365 | 3,365 | ||||
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities | 24,824 | 47,413 | 64,301 | 81,596 | ||||
Purchases of Loans Held for Investment | (26,713) | (174,779) | (329,481) | (438,415) | ||||
Net (Increase) Decrease in Loans | (28,405) | (109,806) | (90,086) | (162,406) | ||||
Proceeds From Sales of Other Real Estate Owned | 30 | 1,683 | 2,406 | |||||
Purchases of Premises and Equipment, net | (1,013) | (3,322) | (4,013) | (6,322) | ||||
Noncontrolling Interest Contributions | 1,838 | 2,573 | 2,867 | 2,867 | ||||
Net Cash Used In Investing Activities | (231,250) | (462,007) | (573,013) | (733,698) | ||||
Net Increase in Deposits | 52,645 | 73,396 | 46,516 | 226,455 | ||||
Net Increase (Decrease) in Short-Term Borrowings | (3,692) | 4,784 | 17,592 | 22,114 | ||||
Repayment of Other Long-Term Borrowings | (78) | (150) | (200) | (249) | ||||
Dividends Paid | (2,712) | (5,424) | (8,307) | (11,191) | ||||
Issuance of Common Stock Under Compensation Plans | 190 | 496 | 577 | (1,300) | ||||
Net Cash Provided By Financing Activities | 46,353 | 73,102 | 56,178 | 238,429 | ||||
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (166,926) | (340,830) | (464,989) | (434,704) | ||||
Cash at Beginning of Year | 694,524 | 868,428 | 1,035,354 | 1,035,354 | 1,035,354 | 1,035,354 | ||
Cash at End of Year | 570,365 | 694,524 | 868,428 | 694,524 | 570,365 | 600,650 | 1,035,354 | |
Interest Paid | 715 | 1,617 | 3,588 | 6,586 | ||||
Income Taxes Paid | 20 | 3,765 | 6,410 | 7,466 | ||||
Loans and Premises Transferred to Other Real Estate Owned | 77 | 1,543 | 2,398 | |||||
Restatement Adjustment [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Net Income Attributable to Common Shareowners | (1,710) | (1,453) | (1,517) | (2,970) | (4,680) | (6,735) | ||
Provision for Credit Losses | 55 | 150 | 32 | 182 | 237 | 332 | ||
Depreciation | 0 | 0 | 0 | 0 | ||||
Amortization of Premiums, Discounts, and Fees, net | (297) | (492) | (572) | (561) | ||||
Amortization of Intangible Assets | 0 | 0 | 0 | 0 | ||||
Pension Settlement Charges | 0 | 0 | 0 | 0 | 0 | |||
Originations of Loans Held for Sale | 4,634 | 24,221 | 27,393 | 28,214 | ||||
Proceeds From Sales of Loans Held-for-Sale | (4,966) | (9,598) | (13,570) | (19,203) | ||||
Mortgage Banking Revenues | 4,891 | 9,099 | 13,320 | 18,715 | ||||
Net Decrease for Capitalized Mortgage Servicing Rights | 137 | (998) | 2,491 | 3,468 | ||||
Stock Compensation | 0 | 0 | 0 | 0 | ||||
Net Tax Benefit from Stock Compensation | 0 | 0 | 0 | 0 | ||||
Deferred Income Taxes (Benefit) | (515) | (1,008) | (1,589) | (2,287) | ||||
Net Change in Operating Leases | 0 | 0 | 0 | 0 | ||||
Net Gain (Loss) on Sales and Write-Downs of Other Real Estate Owned | 0 | 0 | 0 | |||||
Net Decrease (Increase) in Other Assets | 456 | 2,671 | 0 | 0 | ||||
Net (Decrease) Increase in Other Liabilities | 0 | 0 | 0 | 0 | ||||
Net Cash Provided By (Used In) Operating Activities | 2,855 | 21,107 | 23,030 | 21,943 | ||||
Purchases | 0 | 0 | 0 | 0 | ||||
Payments, Maturities, and Calls | 0 | 0 | 0 | 0 | ||||
Purchases | 0 | 0 | 0 | 0 | ||||
Proceeds from the Sale of Securities | 0 | 0 | 0 | 0 | ||||
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities | 0 | 0 | 0 | 0 | ||||
Purchases of Loans Held for Investment | 0 | 0 | 0 | 0 | ||||
Net (Increase) Decrease in Loans | (2,855) | (21,107) | (23,030) | (21,943) | ||||
Proceeds From Sales of Other Real Estate Owned | 0 | 0 | 0 | |||||
Purchases of Premises and Equipment, net | 0 | 0 | 0 | 0 | ||||
Noncontrolling Interest Contributions | 0 | 0 | 0 | 0 | ||||
Net Cash Used In Investing Activities | (2,855) | (21,107) | (23,030) | (21,943) | ||||
Net Increase in Deposits | 0 | 0 | 0 | 0 | ||||
Net Increase (Decrease) in Short-Term Borrowings | 0 | 0 | 0 | 0 | ||||
Repayment of Other Long-Term Borrowings | 0 | 0 | 0 | 0 | ||||
Dividends Paid | 0 | 0 | 0 | 0 | ||||
Issuance of Common Stock Under Compensation Plans | 0 | 0 | 0 | 0 | ||||
Net Cash Provided By Financing Activities | 0 | 0 | 0 | 0 | ||||
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 0 | 0 | 0 | 0 | ||||
Cash at Beginning of Year | 0 | 0 | 0 | 0 | 0 | 0 | ||
Cash at End of Year | $ 0 | $ 0 | 0 | 0 | 0 | 0 | $ 0 | |
Interest Paid | 0 | 0 | 0 | 0 | ||||
Income Taxes Paid | $ 0 | 0 | 0 | 0 | ||||
Loans and Premises Transferred to Other Real Estate Owned | $ 0 | $ 0 | $ 0 |
INVESTMENT SECURITIES - (Narrat
INVESTMENT SECURITIES - (Narrative) (Details) | 12 Months Ended | ||||||
Dec. 31, 2022 USD ($) Securities | Dec. 31, 2021 USD ($) Securities | Dec. 31, 2020 USD ($) | Sep. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2019 USD ($) | |
Investments Securities [Abstract] | |||||||
Securities pledged to secure public deposits | $ 656,100,000 | $ 463,800,000 | |||||
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 | 928 | 401 | |||||
Available-for-sale Securities and Held-To-Maturity, Continuous Unrealized Loss Position, Accumulated Loss | $ 90,000,000 | $ 10,200,000 | |||||
Provision For Loan Losses Expensed | $ 7,397,000 | (2,842,000) | $ 9,035,000 | ||||
Number of holdings securities in an amount greater than 10% of shareowner's equity | Securities | 0 | ||||||
Amortized Cost | $ 455,232,000 | 660,732,000 | $ 461,646,000 | $ 643,679,000 | $ 655,927,000 | ||
Fair Value | 413,294,000 | 654,611,000 | 416,745,000 | 601,405,000 | 624,361,000 | ||
Unrealized Losses | 41,946,000 | 7,460,000 | |||||
Allowance for Credit Losses | 25,068,000 | 21,606,000 | $ 23,816,000 | 22,747,000 | 21,463,000 | 20,788,000 | $ 13,905,000 |
Equity Securities | 10,000 | 861,000 | $ 1,349,000 | $ 900,000 | $ 855,000 | ||
Securities held nonaccrual status | $ 0 | ||||||
Municipal 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 | 127 | ||||||
Allowance for Credit Losses | $ 13,000 | ||||||
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 | 87 | ||||||
Amortized Cost | $ 23,977,000 | 190,409,000 | |||||
Fair Value | 22,050,000 | 187,868,000 | |||||
Unrealized Losses | 1,928,000 | 2,606,000 | |||||
U.S. Government Agency [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Amortized Cost | 198,888,000 | 238,490,000 | |||||
Fair Value | 186,052,000 | 237,578,000 | |||||
Unrealized Losses | 12,863,000 | 2,141,000 | |||||
Allowance for Credit Losses | 0 | ||||||
Estimated write off of loans and leases receivable | $ 0 | ||||||
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 | 714 | ||||||
Available-for-sale Securities [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Number of available for sale securities transferred | Securities | 33 | ||||||
Amortized Cost | $ 168,400,000 | ||||||
Fair Value | 159,000,000 | ||||||
Unrealized Losses | 7,900,000 | ||||||
Corporate Debt Securities [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Amortized Cost | 97,119,000 | 87,537,000 | |||||
Fair Value | 88,236,000 | 86,222,000 | |||||
Unrealized Losses | 8,874,000 | $ 1,304,000 | |||||
Allowance for Credit Losses | $ 28,000 |
INVESTMENT SECURITIES- (Investm
INVESTMENT SECURITIES- (Investment Portfolio Composition) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Available-for-sale | |||||
Amortized Cost | $ 455,232 | $ 461,646 | $ 643,679 | $ 655,927 | $ 660,732 |
Unrealized Gains | 49 | 1,375 | |||
Unrealized Losses | 41,946 | 7,460 | |||
Allowance for Credit Loss | (41) | (36) | |||
Fair Value | 413,294 | 416,745 | 601,405 | 624,361 | 654,611 |
Federal Home Loan Bank | 2,100 | 2,000 | |||
Federal Reserve Bank stock | 5,100 | 5,100 | |||
Held to Maturity | |||||
Amortized Cost | 660,744 | 676,178 | 528,258 | 518,678 | 339,601 |
Unrealized Gains | 8 | 2,819 | |||
Unrealized Losses | 48,051 | 2,721 | |||
Fair value | 612,701 | $ 623,628 | $ 498,963 | $ 501,277 | 339,699 |
U.S. Government Treasury [Member] | |||||
Available-for-sale | |||||
Amortized Cost | 23,977 | 190,409 | |||
Unrealized Gains | 1 | 65 | |||
Unrealized Losses | 1,928 | 2,606 | |||
Allowance for Credit Loss | 0 | 0 | |||
Fair Value | 22,050 | 187,868 | |||
Held to Maturity | |||||
Amortized Cost | 457,374 | 115,499 | |||
Unrealized Gains | 0 | 0 | |||
Unrealized Losses | 25,641 | 1,622 | |||
Fair value | 431,733 | 113,877 | |||
U.S. Government Agency [Member] | |||||
Available-for-sale | |||||
Amortized Cost | 198,888 | 238,490 | |||
Unrealized Gains | 27 | 1,229 | |||
Unrealized Losses | 12,863 | 2,141 | |||
Allowance for Credit Loss | 0 | 0 | |||
Fair Value | 186,052 | 237,578 | |||
States and Political Subdivisions [Member] | |||||
Available-for-sale | |||||
Amortized Cost | 47,197 | 47,762 | |||
Unrealized Gains | 0 | 44 | |||
Unrealized Losses | 6,855 | 811 | |||
Allowance for Credit Loss | 13 | (15) | |||
Fair Value | 40,329 | 46,980 | |||
Mortgage-Backed Securities [Member] | |||||
Available-for-sale | |||||
Amortized Cost | 80,829 | 89,440 | |||
Unrealized Gains | 2 | 27 | |||
Unrealized Losses | 11,426 | 598 | |||
Allowance for Credit Loss | 0 | 0 | |||
Fair Value | 69,405 | 88,869 | |||
Held to Maturity | |||||
Amortized Cost | 203,370 | 224,102 | |||
Unrealized Gains | 8 | 2,819 | |||
Unrealized Losses | 22,410 | 1,099 | |||
Fair value | 180,968 | 225,822 | |||
Corporate Debt Securities [Member] | |||||
Available-for-sale | |||||
Amortized Cost | 97,119 | 87,537 | |||
Unrealized Gains | 19 | 10 | |||
Unrealized Losses | 8,874 | 1,304 | |||
Allowance for Credit Loss | 28 | (21) | |||
Fair Value | 88,236 | 86,222 | |||
Other Securities [Member] | |||||
Available-for-sale | |||||
Amortized Cost | 7,222 | 7,094 | |||
Unrealized Gains | 0 | 0 | |||
Unrealized Losses | 0 | 0 | |||
Allowance for Credit Loss | 0 | 0 | |||
Fair Value | $ 7,222 | $ 7,094 |
INVESTMENT SECURITIES - (Maturi
INVESTMENT SECURITIES - (Maturity Distribution) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Amortized Cost | |||||
Due in one year or less | $ 47,408 | ||||
Due after one through five years | 153,009 | ||||
Due after five through ten years | 51,785 | ||||
Total Investment Securities | 455,232 | $ 461,646 | $ 643,679 | $ 655,927 | $ 660,732 |
Fair Value | |||||
Due in one year or less | 44,255 | ||||
Due after one through five years | 140,296 | ||||
Due after five through ten years | 42,566 | ||||
Total Investment Securities | 413,294 | 416,745 | 601,405 | 624,361 | 654,611 |
Amortized Cost | |||||
Due in one year or less | 0 | ||||
Due after one through five years | 457,374 | ||||
Total Investment Securities | 660,744 | 676,178 | 528,258 | 518,678 | 339,601 |
Fair Value | |||||
Due in one year or less | 0 | ||||
Due after one through five years | 431,733 | ||||
Total Investment Securities | 612,701 | $ 623,628 | $ 498,963 | $ 501,277 | 339,699 |
Mortgage-Backed Securities [Member] | |||||
Amortized Cost | |||||
Due without single maturity date | 80,829 | ||||
Total Investment Securities | 80,829 | 89,440 | |||
Fair Value | |||||
Due without single maturity date | 69,405 | ||||
Total Investment Securities | 69,405 | 88,869 | |||
Amortized Cost | |||||
Due without single maturity date | 203,370 | ||||
Total Investment Securities | 203,370 | 224,102 | |||
Fair Value | |||||
Due without single maturity date | 180,968 | ||||
Total Investment Securities | 180,968 | 225,822 | |||
U.S. Government Agency [Member] | |||||
Amortized Cost | |||||
Due without single maturity date | 114,979 | ||||
Total Investment Securities | 198,888 | 238,490 | |||
Fair Value | |||||
Due without single maturity date | 109,550 | ||||
Total Investment Securities | 186,052 | 237,578 | |||
Other Securities [Member] | |||||
Amortized Cost | |||||
Due without single maturity date | 7,222 | ||||
Total Investment Securities | 7,222 | 7,094 | |||
Fair Value | |||||
Due without single maturity date | 7,222 | ||||
Total Investment Securities | $ 7,222 | $ 7,094 |
INVESTMENT SECURITIES - (Unreal
INVESTMENT SECURITIES - (Unrealized Losses) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | $ 99,073 | $ 492,998 |
Less Than 12 Months, Unrealized Losses | 4,411 | 7,105 |
Greater Than 12 Months, Fair Value | 290,012 | 17,986 |
Greater Than 12 Months, Unrealized Losses | 37,535 | 355 |
Total Fair Value | 389,085 | 510,984 |
Total Unrealized Losses | 41,946 | 7,460 |
Held-to-maturity debt securities | ||
Less Than 12 Months, Fair Value | 266,275 | 228,892 |
Less Than 12 Months, Unrealized Losses | 17,832 | 2,721 |
Greater Than 12 Months, Fair Value | 345,643 | 0 |
Greater Than 12 Months Or Longer, Unrealized Losses | 30,219 | 0 |
Total Fair Value | 611,918 | 228,892 |
Total Unrealized Losses | 48,051 | 2,721 |
U.S. Government Treasury [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 983 | 172,206 |
Less Than 12 Months, Unrealized Losses | 0 | 2,606 |
Greater Than 12 Months, Fair Value | 19,189 | 0 |
Greater Than 12 Months, Unrealized Losses | 1,928 | 0 |
Total Fair Value | 20,172 | 172,206 |
Total Unrealized Losses | 1,928 | 2,606 |
Held-to-maturity debt securities | ||
Less Than 12 Months, Fair Value | 177,552 | 113,877 |
Less Than 12 Months, Unrealized Losses | 11,018 | 1,622 |
Greater Than 12 Months, Fair Value | 254,181 | 0 |
Greater Than 12 Months Or Longer, Unrealized Losses | 14,623 | 0 |
Total Fair Value | 431,733 | 113,877 |
Total Unrealized Losses | 25,641 | 1,622 |
U.S. Government Agency [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 63,112 | 127,484 |
Less Than 12 Months, Unrealized Losses | 2,572 | 1,786 |
Greater Than 12 Months, Fair Value | 113,004 | 17,986 |
Greater Than 12 Months, Unrealized Losses | 10,291 | 355 |
Total Fair Value | 176,116 | 145,470 |
Total Unrealized Losses | 12,863 | 2,141 |
States and Political Subdivisions [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 1,425 | 42,122 |
Less Than 12 Months, Unrealized Losses | 2 | 811 |
Greater Than 12 Months, Fair Value | 38,760 | 0 |
Greater Than 12 Months, Unrealized Losses | 6,853 | 0 |
Total Fair Value | 40,185 | 42,122 |
Total Unrealized Losses | 6,855 | 811 |
Mortgage-Backed Securities [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 6,594 | 81,832 |
Less Than 12 Months, Unrealized Losses | 959 | 598 |
Greater Than 12 Months, Fair Value | 60,458 | 0 |
Greater Than 12 Months, Unrealized Losses | 10,467 | 0 |
Total Fair Value | 67,052 | 81,832 |
Total Unrealized Losses | 11,426 | 598 |
Held-to-maturity debt securities | ||
Less Than 12 Months, Fair Value | 88,723 | 115,015 |
Less Than 12 Months, Unrealized Losses | 6,814 | 1,099 |
Greater Than 12 Months, Fair Value | 91,462 | 0 |
Greater Than 12 Months Or Longer, Unrealized Losses | 15,596 | 0 |
Total Fair Value | 180,185 | 115,015 |
Total Unrealized Losses | 22,410 | 1,099 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 26,959 | |
Less Than 12 Months, Unrealized Losses | 878 | |
Greater Than 12 Months, Fair Value | 58,601 | |
Greater Than 12 Months, Unrealized Losses | 7,996 | |
Total Fair Value | 85,560 | |
Total Unrealized Losses | $ 8,874 | |
Equity 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 |
LOANS HELD FOR INVESTMENT AND_3
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES - (Narratives) (Details) | 12 Months Ended | ||||||
Dec. 31, 2022 USD ($) LoanContracts | Dec. 31, 2021 USD ($) LoanContracts | Dec. 31, 2020 USD ($) LoanContracts | Sep. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2019 USD ($) | |
Loans, net [Abstract] | |||||||
Accrued interest receivable | $ 8,000,000 | $ 5,300,000 | |||||
Real estate loans for which formal foreclosure proceedings were in process | 600,000 | 900,000 | |||||
TDRs | 6,100,000 | 8,000,000 | |||||
TDRs performing in accordance with modified terms | 5,900,000 | 7,600,000 | |||||
Estimated loan loss reserves | $ 300,000 | $ 300,000 | |||||
Number of Contracts | LoanContracts | 2 | 3 | 3 | ||||
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 | 100,000 | 600,000 | $ 200,000 | ||||
Financing Receivable, Allowance for Credit Loss | 25,068,000 | 21,606,000 | 23,816,000 | $ 22,747,000 | $ 21,463,000 | $ 20,788,000 | $ 13,905,000 |
Increase (decrease) in allowance | 3,500,000 | (2,800,000) | |||||
Provision For Loan Losses Expensed | 7,397,000 | (2,842,000) | 9,035,000 | ||||
Net loan charge-offs or (recoveries) | 3,935,000 | (632,000) | $ 2,393,000 | ||||
Purchase of real estate secured adjustable rate loans | 421,700,000 | 97,500,000 | |||||
Net deferred costs | 5,100,000 | 3,900,000 | |||||
Transfers from HFI to HFS | 0 | 9,400,000 | |||||
Third Party [Member] | |||||||
Purchase of real estate secured adjustable rate loans | $ 15,000,000 | $ 17,400,000 |
LOANS HELD FOR INVESTMENT AND_4
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES - (Loan Portfolio Composition) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans Held for Investment | $ 2,547,685 | $ 2,369,785 | $ 2,235,252 | $ 1,988,660 | $ 1,931,465 |
Loans in process with outstanding balances | 6,100 | 13,600 | |||
Commercial, Financial, Agricultural [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans Held for Investment | 247,362 | 223,086 | |||
Real Estate - Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans Held for Investment | 234,519 | 174,394 | |||
Real Estate - Commercial Mortgage [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans Held for Investment | 782,557 | 663,550 | |||
Real Estate - Residential [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans Held for Investment | 749,513 | 360,021 | |||
Real Estate - Home Equity [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans Held for Investment | 208,217 | 187,821 | |||
Consumer [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans Held for Investment | 325,517 | 322,593 | |||
Consumer [Member] | Overdraft deposits [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans Held for Investment | $ 1,100 | $ 1,100 |
LOANS HELD FOR INVESTMENT AND_5
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | $ 21,606 | $ 23,816 | $ 13,905 |
Provision for credit losses | 7,397 | (2,842) | 9,035 |
Charge-Offs | (7,906) | (4,827) | (6,160) |
Recoveries | 3,971 | 5,459 | 3,767 |
Net (Charge-Offs) Recoveries | (3,935) | 632 | (2,393) |
Ending Balance | 25,068 | 21,606 | 23,816 |
Impact Of Adoption Of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 3,269 | ||
Commercial, Financial, Agricultural [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 2,191 | 2,204 | 1,675 |
Provision for credit losses | 316 | (227) | 578 |
Charge-Offs | (1,308) | (239) | (789) |
Recoveries | 307 | 453 | 252 |
Net (Charge-Offs) Recoveries | (1,001) | 214 | (537) |
Ending Balance | 1,506 | 2,191 | 2,204 |
Commercial, Financial, Agricultural [Member] | Impact Of Adoption Of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 488 | ||
Real Estate - Construction [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 3,302 | 2,479 | 370 |
Provision for credit losses | (658) | 813 | 1,757 |
Charge-Offs | 0 | 0 | 0 |
Recoveries | 10 | 10 | 50 |
Net (Charge-Offs) Recoveries | 10 | 10 | 50 |
Ending Balance | 2,654 | 3,302 | 2,479 |
Real Estate - Construction [Member] | Impact Of Adoption Of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 302 | ||
Real Estate - Commercial Mortgage [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 5,810 | 7,029 | 3,416 |
Provision for credit losses | (746) | (1,679) | 1,865 |
Charge-Offs | (355) | (405) | (28) |
Recoveries | 106 | 865 | 318 |
Net (Charge-Offs) Recoveries | (249) | 460 | 290 |
Ending Balance | 4,815 | 5,810 | 7,029 |
Real Estate - Commercial Mortgage [Member] | Impact Of Adoption Of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 1,458 | ||
Real Estate - Residential [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 4,129 | 5,440 | 3,128 |
Provision for credit losses | 6,328 | (1,956) | 940 |
Charge-Offs | 0 | (108) | (150) |
Recoveries | 284 | 753 | 279 |
Net (Charge-Offs) Recoveries | 284 | 645 | 129 |
Ending Balance | 10,741 | 4,129 | 5,440 |
Real Estate - Residential [Member] | Impact Of Adoption Of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 1,243 | ||
Real Estate - Home Equity [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 2,296 | 3,111 | 2,224 |
Provision for credit losses | (422) | (1,125) | 486 |
Charge-Offs | (193) | (103) | (151) |
Recoveries | 183 | 413 | 178 |
Net (Charge-Offs) Recoveries | (10) | 310 | 27 |
Ending Balance | 1,864 | 2,296 | 3,111 |
Real Estate - Home Equity [Member] | Impact Of Adoption Of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 374 | ||
Consumer [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | 3,878 | 3,553 | 3,092 |
Provision for credit losses | 2,579 | 1,332 | 3,409 |
Charge-Offs | (6,050) | (3,972) | (5,042) |
Recoveries | 3,081 | 2,965 | 2,690 |
Net (Charge-Offs) Recoveries | (2,969) | (1,007) | (2,352) |
Ending Balance | $ 3,488 | $ 3,878 | 3,553 |
Consumer [Member] | Impact Of Adoption Of ASC 326 [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning Balance | $ (596) |
LOANS HELD FOR INVESTMENT AND_6
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, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Nonaccrual Loans | $ 2,297 | $ 4,322 | |||
Total Loans | 2,547,685 | $ 2,369,785 | $ 2,235,252 | $ 1,988,660 | 1,931,465 |
Commercial, Financial, Agricultural [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 247,362 | ||||
Nonaccrual Loans | 41 | 90 | |||
Total Loans | 247,362 | 223,086 | |||
Real Estate - Construction [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 234,519 | ||||
Nonaccrual Loans | 17 | 0 | |||
Total Loans | 234,519 | 174,394 | |||
Real Estate - Commercial Mortgage [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 782,557 | ||||
Nonaccrual Loans | 645 | 604 | |||
Total Loans | 782,557 | 663,550 | |||
Real Estate - Residential [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 749,513 | ||||
Nonaccrual Loans | 239 | 2,097 | |||
Total Loans | 749,513 | 360,021 | |||
Real Estate - Home Equity [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 208,217 | ||||
Nonaccrual Loans | 771 | 1,319 | |||
Total Loans | 208,217 | 187,821 | |||
Consumer [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 325,517 | ||||
Nonaccrual Loans | 584 | 212 | |||
Total Loans | 325,517 | 322,593 | |||
Current [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 2,537,559 | 1,923,543 | |||
Current [Member] | Commercial, Financial, Agricultural [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 247,086 | 222,873 | |||
Current [Member] | Real Estate - Construction [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 234,143 | 174,394 | |||
Current [Member] | Real Estate - Commercial Mortgage [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 781,605 | 662,795 | |||
Current [Member] | Real Estate - Residential [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 747,899 | 357,408 | |||
Current [Member] | Real Estate - Home Equity [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 207,411 | 186,292 | |||
Current [Member] | Consumer [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 319,415 | 319,781 | |||
Past Due [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 7,829 | 3,600 | |||
Past Due [Member] | Commercial, Financial, Agricultural [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 235 | 123 | |||
Past Due [Member] | Real Estate - Construction [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 359 | 0 | |||
Past Due [Member] | Real Estate - Commercial Mortgage [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 307 | 151 | |||
Past Due [Member] | Real Estate - Residential [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 1,375 | 516 | |||
Past Due [Member] | Real Estate - Home Equity [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 35 | 210 | |||
Past Due [Member] | Consumer [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 5,518 | 2,600 | |||
30-59 DPD [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 5,137 | 2,790 | |||
30-59 DPD [Member] | Commercial, Financial, Agricultural [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 109 | 100 | |||
30-59 DPD [Member] | Real Estate - Construction [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 359 | 0 | |||
30-59 DPD [Member] | Real Estate - Commercial Mortgage [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 158 | 151 | |||
30-59 DPD [Member] | Real Estate - Residential [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 845 | 365 | |||
30-59 DPD [Member] | Real Estate - Home Equity [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 0 | 210 | |||
30-59 DPD [Member] | Consumer [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 3,666 | 1,964 | |||
60-89 DPD [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 2,692 | 810 | |||
60-89 DPD [Member] | Commercial, Financial, Agricultural [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 126 | 23 | |||
60-89 DPD [Member] | Real Estate - Construction [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 0 | 0 | |||
60-89 DPD [Member] | Real Estate - Commercial Mortgage [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 149 | 0 | |||
60-89 DPD [Member] | Real Estate - Residential [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 530 | 151 | |||
60-89 DPD [Member] | Real Estate - Home Equity [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 35 | 0 | |||
60-89 DPD [Member] | Consumer [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans | 1,852 | 636 | |||
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_7
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES - (Nonaccrual loans and loans past due over 90 days) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual With No ACL | $ 389 | $ 1,458 |
Total Nonaccrual With ACL | 1,908 | 2,864 |
90 + Days Still Accruing | 0 | 0 |
Commercial, Financial, Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual With No ACL | 0 | 67 |
Total Nonaccrual With ACL | 41 | 23 |
90 + Days Still Accruing | 0 | 0 |
Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual With No ACL | 0 | 0 |
Total Nonaccrual With ACL | 17 | 0 |
90 + Days Still Accruing | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual With No ACL | 389 | 0 |
Total Nonaccrual With ACL | 256 | 604 |
90 + Days Still Accruing | 0 | 0 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual With No ACL | 0 | 928 |
Total Nonaccrual With ACL | 239 | 1,169 |
90 + Days Still Accruing | 0 | 0 |
Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual With No ACL | 0 | 463 |
Total Nonaccrual With ACL | 771 | 856 |
90 + Days Still Accruing | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual With No ACL | 0 | 0 |
Total Nonaccrual With ACL | 584 | 212 |
90 + Days Still Accruing | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT AND_8
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES - (Amortized cost basis of collateral dependent loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | $ 700 | $ 2,749 |
Non real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 0 | 67 |
Commercial, Financial, Agricultural [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 247,362 | |
Commercial, Financial, Agricultural [Member] | Real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial, Financial, Agricultural [Member] | Non real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 0 | 67 |
Real Estate - Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 234,519 | |
Real Estate - Construction [Member] | Real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Real Estate - Construction [Member] | Non real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 782,557 | |
Real Estate - Commercial Mortgage [Member] | Real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 389 | 455 |
Real Estate - Commercial Mortgage [Member] | Non real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Real Estate - Residential [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 749,513 | |
Real Estate - Residential [Member] | Real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 160 | 1,645 |
Real Estate - Residential [Member] | Non real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Real Estate - Home Equity [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 208,217 | |
Real Estate - Home Equity [Member] | Real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 130 | 649 |
Real Estate - Home Equity [Member] | Non real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 325,517 | |
Consumer [Member] | Real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | 21 | 0 |
Consumer [Member] | Non real estate secured [Member] | Asset Pledged As Collateral [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Notes Receivable Gross | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT AND_9
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES - (Loans held for investment by years of origination) (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Commercial, Financial, Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | $ 96,326 |
2021 | 43,846 |
2020 | 20,068 |
2019 | 14,744 |
2018 | 6,963 |
Prior | 12,103 |
Revolving | 53,312 |
Total | 247,362 |
Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 141,801 |
2021 | 73,935 |
2020 | 13,000 |
2019 | 1,229 |
2018 | 0 |
Prior | 123 |
Revolving | 4,431 |
Total | 234,519 |
Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 253,568 |
2021 | 161,194 |
2020 | 132,062 |
2019 | 57,201 |
2018 | 52,808 |
Prior | 104,211 |
Revolving | 21,513 |
Total | 782,557 |
Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 473,889 |
2021 | 98,209 |
2020 | 47,889 |
2019 | 30,092 |
2018 | 20,505 |
Prior | 68,107 |
Revolving | 10,822 |
Total | 749,513 |
Real Estate - Home Equity [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 149 |
2021 | 136 |
2020 | 12 |
2019 | 412 |
2018 | 147 |
Prior | 1,228 |
Revolving | 206,133 |
Total | 208,217 |
Real Estate - Home Equity [Member] | Performing [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 149 |
2021 | 136 |
2020 | 12 |
2019 | 397 |
2018 | 147 |
Prior | 1,215 |
Revolving | 205,390 |
Total | 207,446 |
Real Estate - Home Equity [Member] | Nonperforming [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 0 |
2021 | 0 |
2020 | 0 |
2019 | 15 |
2018 | 0 |
Prior | 13 |
Revolving | 743 |
Total | 771 |
Consumer [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 134,269 |
2021 | 111,821 |
2020 | 37,130 |
2019 | 21,180 |
2018 | 12,280 |
Prior | 3,769 |
Revolving | 5,068 |
Total | 325,517 |
Consumer [Member] | Performing [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 134,021 |
2021 | 111,762 |
2020 | 37,010 |
2019 | 21,065 |
2018 | 12,273 |
Prior | 3,739 |
Revolving | 5,064 |
Total | 324,934 |
Consumer [Member] | Nonperforming [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 248 |
2021 | 59 |
2020 | 120 |
2019 | 115 |
2018 | 7 |
Prior | 30 |
Revolving | 4 |
Total | 583 |
Pass [Member] | Commercial, Financial, Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 96,326 |
2021 | 43,584 |
2020 | 20,061 |
2019 | 14,744 |
2018 | 6,899 |
Prior | 11,970 |
Revolving | 50,934 |
Total | 244,518 |
Pass [Member] | Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 141,784 |
2021 | 73,219 |
2020 | 11,928 |
2019 | 397 |
2018 | 0 |
Prior | 123 |
Revolving | 4,431 |
Total | 231,882 |
Pass [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 243,818 |
2021 | 159,334 |
2020 | 131,131 |
2019 | 55,122 |
2018 | 51,864 |
Prior | 101,175 |
Revolving | 20,575 |
Total | 763,019 |
Pass [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 473,235 |
2021 | 97,083 |
2020 | 46,322 |
2019 | 29,179 |
2018 | 19,791 |
Prior | 65,071 |
Revolving | 10,822 |
Total | 741,503 |
Special Mention [Member] | Commercial, Financial, Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 0 |
2021 | 262 |
2020 | 7 |
2019 | 0 |
2018 | 51 |
Prior | 0 |
Revolving | 2,330 |
Total | 2,650 |
Special Mention [Member] | Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 0 |
2021 | 716 |
2020 | 384 |
2019 | 832 |
2018 | 0 |
Prior | 0 |
Revolving | 0 |
Total | 1,932 |
Special Mention [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 635 |
2021 | 1,860 |
2020 | 931 |
2019 | 1,420 |
2018 | 724 |
Prior | 2,405 |
Revolving | 549 |
Total | 8,524 |
Special Mention [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 94 |
2021 | 360 |
2020 | 533 |
2019 | 0 |
2018 | 0 |
Prior | 648 |
Revolving | 0 |
Total | 1,635 |
Substandard [Member] | Commercial, Financial, Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 0 |
2021 | 0 |
2020 | 0 |
2019 | 0 |
2018 | 13 |
Prior | 133 |
Revolving | 48 |
Total | 194 |
Substandard [Member] | Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 17 |
2021 | 0 |
2020 | 688 |
2019 | 0 |
2018 | 0 |
Prior | 0 |
Revolving | 0 |
Total | 705 |
Substandard [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 9,115 |
2021 | 0 |
2020 | 0 |
2019 | 659 |
2018 | 220 |
Prior | 631 |
Revolving | 389 |
Total | 11,014 |
Substandard [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 560 |
2021 | 766 |
2020 | 1,034 |
2019 | 913 |
2018 | 714 |
Prior | 2,388 |
Revolving | 0 |
Total | $ 6,375 |
MORTGAGE BANKING ACTIVITIES - (
MORTGAGE BANKING ACTIVITIES - (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Mortgage Banking Activities [Abstract] | |||||
Percentage of FNMA loan type of total loans serviced | 60.20% | ||||
Percentage of GNMA loan type of total loans serviced | 0.10% | ||||
Percentage of Private Investor loan type of total loans serviced | 39.70% | ||||
Repurchase of GNMA delinquent or defaulted mortgage loans to be modified | $ 1,700,000 | $ 2,800,000 | |||
Weighted average prepayment speed | 13.42% | 15.85% | |||
Warehouse lines of credit extended to CCHL | $ 50,000,000 | ||||
Balance of lines of credit receivable from CCHL | 22,900,000 | $ 14,800,000 | |||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | 0 | ||||
Delinquent residential mortgage loans currently in GNMA pools | 300,000 | 2,000,000 | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Nonaccrual Loans | 2,297,000 | 4,322,000 | |||
Net Realized Gains on Sales of Mortgage Loans | $ 4,055,000 | $ 8,912,000 | $ 11,807,000 | 11,909,000 | |
Residential Mortgage [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Nonaccrual Loans | 100,000 | ||||
Loans held-for-sale | 26,274,000 | 50,773,000 | |||
Mortgage Servicing Rights [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-for-sale | 50,000,000 | ||||
Sale price of loans held for sale | 600,000 | ||||
Net Realized Gains on Sales of Mortgage Loans | 200,000 | ||||
Warehouse Line Borrowings [Member] | |||||
Short-term Debt [Line Items] | |||||
Line of credit outstanding | 50,152,000 | 29,000,000 | |||
Financial Asset, 30 to 89 Days Past Due [Member] | Residential Mortgage [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-for-sale | $ 600,000 | $ 200,000 |
MORTGAGE BANKING ACTIVITIES -_2
MORTGAGE BANKING ACTIVITIES - (Summary of unpaid principal balance of residential mortgage loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Other Assets | $ 119,337 | $ 118,272 | $ 111,270 | $ 106,330 | $ 94,349 |
Other Liabilities | 73,675 | 84,657 | 93,319 | 77,323 | 67,735 |
Loans Held For Sale, at fair value | 26,909 | $ 23,162 | $ 24,986 | $ 46,256 | 52,532 |
Residential Mortgage [Member] | |||||
Loans held-for-sale | 26,274 | 50,773 | |||
Loans Held For Sale, at fair value | 26,909 | 52,532 | |||
Fair value | 27,915 | 53,783 | |||
Residential Mortgage [Member] | Loan Commitments (IRLCs) [Member] | |||||
Other Assets | 36,535 | 51,883 | |||
Other assets fair value | 819 | 1,258 | |||
Residential Mortgage [Member] | Forward Sales Contracts [Member] | |||||
Other Liabilities | 15,500 | 48,000 | |||
Other assets fair value | $ 187 | ||||
Other liabilities at fair value | $ (7) |
MORTGAGE BANKING ACTIVITIES -_3
MORTGAGE BANKING ACTIVITIES - (Mortgage banking revenue) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net realized gain on sales of mortgage loans | $ 11,909 | $ 52,425 | $ 63,344 | |||||
Mortgage servicing rights additions | 72 | (2,792) | ||||||
Mortgage Banking Revenues [Member] | ||||||||
Net realized gain on sales of mortgage loans | 5,565 | 49,355 | 59,709 | |||||
Net change in unrealized gain on mortgage loans held for sale | (1,164) | (2,410) | 2,926 | |||||
Net change in the fair value of mortgage loan commitments (IRLCs) | (439) | (3,567) | 2,625 | |||||
Net change in the fair value of forward sales contracts | 192 | 900 | 284 | |||||
Pair-Offs on net settlement of forward sales contracts | 4,956 | 2,956 | (9,602) | |||||
Mortgage servicing rights additions | 565 | 1,416 | 3,448 | |||||
Net origination fees | 2,234 | 3,775 | 3,954 | |||||
Total mortgage banking revenues | $ 2,895 | $ 4,857 | $ 4,055 | $ 8,912 | $ 11,807 | $ 11,909 | $ 52,425 | $ 63,344 |
MORTGAGE BANKING ACTIVITIES -_4
MORTGAGE BANKING ACTIVITIES - (Summary of mortgage servicing rights) (Details) - Residential Mortgage [Member] $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 USD ($) LoanContracts | Dec. 31, 2021 USD ($) LoanContracts | |
Servicing Assets at Fair Value [Line Items] | ||
Number of Residential Mortgage Loans Serviced for Others | LoanContracts | 1,769 | 2,106 |
Outstanding Principal Balance of Residential Mortgage Loans Serviced for Others | $ | $ 410,740 | $ 532,967 |
Weighted Average Interest Rate | 3.62% | 3.59% |
Remaining contractual term (in months) | 298 months | 317 months |
MORTGAGE BANKING ACTIVITIES -_5
MORTGAGE BANKING ACTIVITIES - (Capitalized mortgage servicing rights) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Servicing Asset at Fair Value, Amount [Roll Forward | |||
Beginning Balance | $ 3,774 | $ 3,452 | $ 910 |
Additions due to loans sold with servicing retained | 565 | 1,416 | 3,448 |
Deletions and amortization | (1,291) | (1,344) | (656) |
Valuation Allowance reversal | 0 | 250 | (250) |
Sale of Servicing Rights | (449) | 0 | 0 |
Ending Balance | $ 2,599 | $ 3,774 | $ 3,452 |
MORTGAGE BANKING ACTIVITIES -_6
MORTGAGE BANKING ACTIVITIES - (Key unobservable inputs used in determining the fair value) (Details) - $ / LoanContracts | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Maximum [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Discount Rates | 12% | 15% |
Annual prepayment speeds | 20.23% | 23.79% |
Cost of servicing (per loan) | 95 | 73 |
Minimum [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Discount Rates | 9.50% | 11% |
Annual prepayment speeds | 12.33% | 11.98% |
Cost of servicing (per loan) | 85 | 60 |
MORTGAGE BANKING ACTIVITIES -_7
MORTGAGE BANKING ACTIVITIES - (Warehouse Line Borrowings) (Details) - Warehouse Line Borrowings [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Short-term Debt [Line Items] | ||
Line of credit outstanding | $ 50,152 | $ 29,000 |
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 | $ 9,577 | |
Cash pledge deposit | $ 500 | |
Master Repurchase Agreement [Member] | Maximum [Member] | ||
Short-term Debt [Line Items] | ||
Interest rate, basis spread (in percent) | 1% | |
Master Repurchase Agreement [Member] | Minimum [Member] | ||
Short-term Debt [Line Items] | ||
Interest rate, basis spread (in percent) | 1% | |
Line of credit expiring December 2022 [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 75,000 | |
Line of credit outstanding | $ 40,575 | |
Line of Credit Facility, Expiration Date | Dec. 31, 2022 | |
Line of credit expiring December 2022 [Member] | Maximum [Member] | ||
Short-term Debt [Line Items] | ||
Interest rate, basis spread (in percent) | 3.25% | |
Line of credit expiring December 2022 [Member] | Minimum [Member] | ||
Short-term Debt [Line Items] | ||
Interest rate, basis spread (in percent) | 2.25% |
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, 2022 | Dec. 31, 2021 | |
Derivatives, Fair Value [Line Items] | ||
Notional Amount | $ 30,000 | $ 30,000 |
Fair Value | $ 6,195 | $ 2,050 |
Weighted average rate paid (Fixed) | 2.50% | |
Weighted average maturity years | 7 years 6 months | 8 years 6 months |
LIBOR plus a weighted average margin | 1.83% |
DERIVATIVES - (Net gains (losse
DERIVATIVES - (Net gains (losses) recorded in accumulated other comprehensive income) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Collateral liabilities | $ 5,800 | $ 2,000 | |
Interest rate product [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of Gain (Loss) Recognized in AOCI | 4,625 | 1,530 | $ 428 |
Amount of Gain (Loss) Reclassified from AOCI to Income | 337 | $ (151) | $ (64) |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | $ 1,300 |
PREMISES AND EQUIPMENT (Schedul
PREMISES AND EQUIPMENT (Schedule of composition of premises and equipment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | ||||||
Total Premises and Equipment | $ 192,323 | $ 191,088 | ||||
Accumulated Depreciation | (110,185) | (107,676) | ||||
Premises and Equipment, Net | $ 82,518 | $ 82,932 | $ 81,736 | 82,138 | 83,412 | |
Depreciation | $ 1,907 | $ 3,802 | $ 5,689 | 7,596 | 7,607 | $ 7,230 |
Land [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Total Premises and Equipment | 22,847 | 23,575 | ||||
Buildings [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Total Premises and Equipment | 109,849 | 110,503 | ||||
Fixtures and Equipment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Total Premises and Equipment | $ 59,627 | $ 57,010 |
LEASES - (Narrative) (Details)
LEASES - (Narrative) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Lessee Lease Description [Line Items] | ||
Right-of-use (ROU) assets | $ 22,300 | $ 11,500 |
Operating lease liability | 22,666 | $ 12,200 |
Total lease payments | 29,752 | |
Operating leases related party transaction [Member] | ||
Lessee Lease Description [Line Items] | ||
Total lease payments | 2,400 | |
Operating leases minimum annual payment | 200 | |
First lease [Member] | ||
Lessee Lease Description [Line Items] | ||
Total lease payments | $ 1,900 | |
Lessee, Operating Lease, Term of Contract for two new leases | 15 years | |
Second lease [Member] | ||
Lessee Lease Description [Line Items] | ||
Total lease payments | $ 1,400 | |
Lessee, Operating Lease, Term of Contract for two new leases | 10 years | |
Third lease [Member] | ||
Lessee Lease Description [Line Items] | ||
Total lease payments | $ 100 | |
Lessee, Operating Lease, Term of Contract for two new leases | 5 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 | 43 years |
LEASES - (lease expense and oth
LEASES - (lease expense and other information related to the Company's operating leases) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lease expenses: | |||
Operating lease expense | $ 1,719 | $ 1,445 | $ 1,018 |
Short-term lease expense | 658 | 663 | 530 |
Total lease expense | 2,377 | 2,108 | 1,548 |
Other information: | |||
Operating cash flows from operating leases | 1,937 | 1,609 | 1,174 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 12,475 | $ 784 | $ 11,101 |
Weighted-average remaining lease term - operating leases (in years ) | 19 years 6 months | 25 years 3 months 18 days | 25 years 4 months 24 days |
Weighted-average discount rate - operating leases | 3.10% | 2% | 2.10% |
LEASES - (maturity of remaining
LEASES - (maturity of remaining lease liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | ||
2022 | $ 2,482 | |
2023 | 2,307 | |
2024 | 2,089 | |
2025 | 2,013 | |
2026 | 1,939 | |
2027 and thereafter | 18,922 | |
Total | 29,752 | |
Less: Interest | (7,086) | |
Present Value of Lease Liability | $ 22,666 | $ 12,200 |
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Apr. 30, 2021 | Mar. 01, 2020 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill And Other Intangibles [Abstract] | ||||||||
Goodwill | $ 91,800,000 | |||||||
Goodwill impairment | 0 | $ 0 | ||||||
Intangible Assets, Current | 1,300,000 | 1,600,000 | ||||||
Business combination abstract | ||||||||
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 | $ 40,000 | $ 80,000 | $ 120,000 | $ 160,000 | $ 107,000 | $ 0 | ||
Intangible assets useful life | 10 years | |||||||
Estimated amortization expense for each of the ten succeeding fiscal years | $ 200,000 |
OTHER REAL ESTATE OWNED (Schedu
OTHER REAL ESTATE OWNED (Schedule of other real estate owned activity) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Real Estate [Roll Forward] | |||
Beginning Balance | $ 17 | $ 808 | $ 953 |
Additions | 2,398 | 1,717 | 2,297 |
Valuation Write-Downs | (11) | (31) | (792) |
Sales | (1,973) | (2,809) | (1,650) |
Other | 0 | 332 | 0 |
Ending Balance | $ 431 | $ 17 | $ 808 |
OTHER REAL ESTATE OWNED - (Net
OTHER REAL ESTATE OWNED - (Net expenses applicable) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Real Estate Owned [Abstract] | |||||
Gains from the Sale of Properties | $ (480) | $ (1,711) | $ (1,218) | ||
Losses from the Sale of Properties | 47 | 18 | 33 | ||
Rental Income from Properties | (21) | 0 | 0 | ||
Property Carrying Costs | 106 | 174 | 497 | ||
Valuation Adjustments | 11 | 31 | 792 | ||
Total | $ (29) | $ 25 | $ (337) | $ (1,488) | $ 104 |
DEPOSITS - (Narrative) (Details
DEPOSITS - (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Deposits [Abstract] | ||
Overdrawn deposit accounts of loan | $ 1.1 | |
Time deposits that meet or exceed the FDIC insurance limit of $250,000 | $ 11.1 | $ 10 |
DEPOSITS - (Composition of Comp
DEPOSITS - (Composition of Company's interest bearing deposits) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Deposits [Abstract] | |||||
NOW Accounts | $ 1,290,494 | $ 1,070,154 | |||
Money Market Accounts | 267,383 | 274,611 | |||
Savings Deposits | 637,374 | 599,811 | |||
Time Deposits | 90,446 | 99,374 | |||
Total Interest Bearing Deposits | $ 2,285,697 | $ 2,022,332 | $ 2,061,587 | $ 2,061,178 | $ 2,043,950 |
DEPOSITS - (Scheduled maturitie
DEPOSITS - (Scheduled maturities of time deposits) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Deposits [Abstract] | ||
2023 | $ 69,221 | |
2024 | 10,284 | |
2025 | 5,122 | |
2026 | 1,737 | |
2027 and thereafter | 4,082 | |
Total | $ 90,446 | $ 99,374 |
DEPOSITS - (Interest expense on
DEPOSITS - (Interest expense on deposits) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Deposits [Abstract] | ||||||||
NOW Accounts | $ 2,800 | $ 294 | $ 930 | |||||
Money Market Accounts | 203 | 134 | 223 | |||||
Savings Deposits | 309 | 263 | 207 | |||||
Time Deposits less than $250,000 | 129 | 145 | 179 | |||||
Time Deposits more than $250,000 | 3 | 3 | 9 | |||||
Total Interest Expense | $ 1,052 | $ 266 | $ 224 | $ 490 | $ 1,542 | $ 3,444 | $ 839 | $ 1,548 |
SHORT-TERM BORROWINGS (Schedule
SHORT-TERM BORROWINGS (Schedule of Short-term borrowings) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | ||
Short-term Debt [Line Items] | |||||||
Balance at December 31 | $ 56,793 | $ 34,557 | $ 52,271 | $ 39,463 | $ 30,865 | ||
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 | $ 2 | ||||
Average rate paid for the year (in percent) | 3.39% | 2.39% | 2.56% | ||||
Average rate paid on period-end borrowings (in percent) | 0% | 0% | 0% | ||||
Securities Sold Under Repurchase Agreements [Member] | |||||||
Short-term Debt [Line Items] | |||||||
Balance at December 31 | [1] | $ 6,582 | $ 4,955 | $ 4,851 | |||
Maximum indebtedness at any month end | [1] | 9,452 | 6,755 | 5,922 | |||
Daily average indebtedness outstanding | [1] | $ 8,095 | $ 5,762 | $ 5,384 | |||
Average rate paid for the year (in percent) | 0.17% | 0.04% | 0.10% | ||||
Average rate paid on period-end borrowings (in percent) | 0.40% | 0.04% | 0.04% | ||||
Other Short-Term Borrowings [Member] | |||||||
Short-term Debt [Line Items] | |||||||
Balance at December 31 | [2] | $ 50,211 | $ 29,602 | $ 74,803 | |||
Maximum indebtedness at any month end | [2] | 50,211 | 58,309 | 94,071 | |||
Daily average indebtedness outstanding | [2] | $ 32,386 | $ 47,748 | $ 63,733 | |||
Average rate paid for the year (in percent) | 5.40% | 2.84% | 4.36% | ||||
Average rate paid on period-end borrowings (in percent) | 7.61% | 2.36% | 3% | ||||
FHLB Advances [Member] | |||||||
Short-term Debt [Line Items] | |||||||
Balance at December 31 | $ 100 | ||||||
Warehouse Line Borrowings [Member] | |||||||
Short-term Debt [Line Items] | |||||||
Balance at December 31 | $ 50,100 | ||||||
[1] (1) Balances are fully collateralized by government treasury or agency securities held in the Company's investment portfolio. (2) Comprised of FHLB advances totaling $ 0.1 50.1 |
LONG-TERM BORROWINGS - (Narrati
LONG-TERM BORROWINGS - (Narrative) (Details) - Federal Home Loan Bank Advances [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Debt Instrument [Line Items] | ||
FHLB advances | $ 0.5 | $ 0.9 |
Weighted-average rate (in percent) | 4.80% | 3.37% |
FHLB Debt instrument payment terms | The advance matures in 2025 and has a rate of 4.80%. The Company had FHLB long-term advances totaling $0.9 million at December 31, 2021 with a weighted-average rate of 3.37%. |
LONG-TERM BORROWINGS - (Narra_2
LONG-TERM BORROWINGS - (Narrative 2) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Apr. 12, 2016 | May 31, 2005 | Nov. 30, 2004 | Dec. 31, 2022 | |
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 |
LONG-TERM BORROWINGS - (Schedul
LONG-TERM BORROWINGS - (Scheduled minimum future principal payments) (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Long-term Borrowings [Abstract] | |
2022 | $ 199 |
2023 | 198 |
2024 | 116 |
Total | $ 513 |
INCOME TAXES - (Narrative 1) (D
INCOME TAXES - (Narrative 1) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating Loss Carryforwards [Line Items] | |||
Unrecognized tax benefits | $ 0 | ||
Statutory federal income tax rate to pre-tax income (in percent) | 21% | 21% | 21% |
Minimum [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Tax credit carry forwards, expiration dates | Dec. 31, 2023 | ||
Maximum [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Tax credit carry forwards, expiration dates | Dec. 31, 2037 | ||
State [Member] | 2022 through 2041 [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss and Tax credit carryforward, valuation allowance | $ 1,900,000 | ||
Inactive Subsidiary [Member] | State [Member] | 2022 through 2041 [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards, valuation allowance | $ 1,600,000 |
INCOME TAXES - (Narrative 2) (D
INCOME TAXES - (Narrative 2) (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Income Tax [Abstract] | |||
Interest and penalties | $ 0 | $ 0 | $ 0 |
Amounts accrued for interest and penalties | $ 0 | $ 0 |
INCOME TAXES - (Provision for i
INCOME TAXES - (Provision for income taxes) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Current: | ||||||||
Federal | $ 10,646 | $ 12,039 | $ 8,625 | |||||
State | 1,022 | 1,044 | 1,658 | |||||
Total | 11,668 | 13,083 | 10,283 | |||||
Deferred: | ||||||||
Federal | (2,994) | (3,246) | (143) | |||||
State | (899) | (10) | 130 | |||||
Change in Valuation Allowance | 23 | 8 | (40) | |||||
Total | (3,870) | (3,248) | (53) | |||||
Total | ||||||||
Federal | 7,652 | 8,793 | 8,482 | |||||
State | 123 | 1,034 | 1,788 | |||||
Change in Valuation Allowance | 23 | 8 | (40) | |||||
Total | $ 2,493 | $ 1,685 | $ 1,720 | $ 3,405 | $ 5,898 | $ 7,798 | $ 9,835 | $ 10,230 |
INCOME TAXES - (Income tax reco
INCOME TAXES - (Income tax reconciliation) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax [Abstract] | ||||||||
Tax Expense at Federal Statutory Rate | $ 8,625 | $ 10,385 | $ 11,106 | |||||
Increases (Decreases) Resulting From: | ||||||||
Tax-Exempt Interest Income | (248) | (271) | (341) | |||||
State Taxes, Net of Federal Benefit | 94 | 819 | 1,413 | |||||
Other | (546) | 375 | 601 | |||||
Change in Valuation Allowance | 23 | 8 | (40) | |||||
Tax-Exempt Cash Surrender Value Life Insurance Benefit | (175) | (173) | (173) | |||||
Noncontrolling Interest | 25 | (1,308) | (2,336) | |||||
Actual Tax Expense | $ 2,493 | $ 1,685 | $ 1,720 | $ 3,405 | $ 5,898 | $ 7,798 | $ 9,835 | $ 10,230 |
INCOME TAXES - (Deferred income
INCOME TAXES - (Deferred income tax liabilities and assets) (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred Tax Assets attributable to: | ||
Allowance for Credit Losses | $ 6,042,000 | $ 5,308,000 |
Accrued Pension/SERP | 1,530,000 | 4,468,000 |
State Net Operating Loss and Tax Credit Carry-Forwards | 1,920,000 | 1,984,000 |
Other Real Estate Owned | 917,000 | 1,029,000 |
Accrued SERP Liability | 3,246,000 | 2,442,000 |
Lease Liability | 4,547,000 | 2,597,000 |
Net Unrealized Losses on Investment Securities | 12,499,000 | 1,532,000 |
Other | 3,043,000 | 2,325,000 |
Investment in Partnership | 1,544,000 | |
Total Deferred Tax Assets | 35,288,000 | 21,685,000 |
Deferred Tax Liabilities attributable to: | ||
Depreciation on Premises and Equipment | 3,382,000 | 3,208,000 |
Deferred Loan Fees and Costs | 2,372,000 | 2,016,000 |
Intangible Assets | 3,310,000 | 3,276,000 |
Accrued Pension Liability | 1,043,000 | 2,138,000 |
Right of Use Asset | 4,474,000 | 2,453,000 |
Investments | 469,000 | 469,000 |
Other | 2,099,000 | 857,000 |
Total Deferred Tax Liabilities | 17,149,000 | 14,417,000 |
Valuation Allowance | 1,671,000 | 1,648,000 |
Net Deferred Tax Assets | $ 16,468,000 | $ 5,620,000 |
STOCK-BASED COMPENSATION - (Nar
STOCK-BASED COMPENSATION - (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation Expense | $ 2,300,000 | $ 1,600,000 | $ 1,600,000 |
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% | ||
Shares reserved for issuance (in shares) | 300,000 | ||
Shares eligible for issuance (in shares) | 265,661 | ||
Shares issued (in shares) | 14,977 | 19,362 | 16,119 |
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% | ||
Shares reserved for issuance (in shares) | 400,000 | ||
Shares eligible for issuance (in shares) | 346,773 | ||
Shares issued (in shares) | 31,101 | 22,126 | 33,910 |
Compensation Expense | $ 100,000 | $ 100,000 | $ 200,000 |
Percentage of outstanding stock purchase (in percent) | 10% | ||
Maximum Stock purchases under the plan | $ 25,000 | ||
Weighted average estimated fair value (in dollars per shares) | $ 4.03 | $ 3.96 | $ 5.83 |
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) | 24,222 | ||
Shares remain eligible for issuance | 545,035 | ||
Percentage of award in form of stock | 60% | ||
Percentage of award in form of cash bonus | 40% | ||
Common Stock Capital Shares earned not issued | 41,460 | ||
Compensation Expense | $ 1,900,000 | $ 1,200,000 | $ 1,000,000 |
Share Based Compensation Arrangement By Share Based Payment Award Grant Date Fair Value of Shares | $ 1,100,000 | ||
2021 Associate Incentive Plan (AIP) [Member] | Director [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares issued (in shares) | 11,847 | 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 | 4,909 | ||
Executive Long-Term Incentive Plan (LTIP) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares issued (in shares) | 6,849 | 27,915 | 32,482 |
Compensation Expense | $ 200,000 | $ 200,000 | $ 400,000 |
STOCK-BASED COMPENSATION - (Bla
STOCK-BASED COMPENSATION - (Black-Scholes option pricing model) (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Stock-Based Compensation [Abstract] | |||
Dividend yield | 2.40% | 2.50% | 2.40% |
Expected volatility | 17.60% | 21.80% | 45.60% |
Risk-free interest rate | 1.40% | 0.10% | 0.90% |
Expected life (in months) | 6 months | 6 months | 6 months |
EMPLOYEE BENEFIT PLANS - (Narra
EMPLOYEE BENEFIT PLANS - (Narrative 1) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||||||
Net actuarial gain (loss) | $ (500) | ||||||
Settlement loss | $ (169) | $ (209) | $ (378) | $ (480) | (2,321) | $ (3,072) | $ 0 |
Defined benefit pension plan [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Net actuarial gain (loss) | (900) | ||||||
Settlement loss | $ (2,321) | $ (3,072) | $ 0 |
EMPLOYEE BENEFIT PLANS - (Nar_2
EMPLOYEE BENEFIT PLANS - (Narrative 2) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Minimum [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation (in percent) | 55% | ||
Minimum [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation (in percent) | 17% | ||
Minimum [Member] | Cash and Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation (in percent) | 0% | ||
Maximum [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation (in percent) | 81% | ||
Maximum [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation (in percent) | 37% | ||
Maximum [Member] | Cash and Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation (in percent) | 10% | ||
Employee Benefit 401 K Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Matching contributions (in percent) | 50% | ||
Participant's compensation for eligible associates (in percent) | 6% | ||
Matching contributions | $ 1.4 | $ 1 | $ 0.8 |
Shares reserved for issuance (in shares) | 50,000 | ||
Additional Employers Contribution for Associates Hired After Year 2019 as a percentage of compensation | 3% | ||
Employee Benefit 401 K Plan [Member] | CCHL associates [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Matching contributions | $ 0.4 | $ 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% | ||
Dividend Reinvestment and Optional Stock Purchase Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Shares reserved for issuance (in shares) | 250,000 |
EMPLOYEE BENEFIT PLANS - (Chang
EMPLOYEE BENEFIT PLANS - (Changes in benefit obligation, changes in plan assets, the funded status) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Change in Projected Benefit Obligation: | |||||||
Actuarial (Gain) Loss | $ (4,223) | $ (31,339) | $ 27,924 | ||||
Components of Net Periodic Benefit Costs: | |||||||
Defined benefit plan settlement | $ 169 | $ 209 | $ 378 | $ 480 | 2,321 | 3,072 | 0 |
Defined benefit pension plan [Member] | |||||||
Change in Projected Benefit Obligation: | |||||||
Benefit Obligation at Beginning of Year | 172,508 | 172,508 | 172,508 | 172,508 | 212,566 | 180,830 | |
Service Cost | 6,289 | 6,971 | 5,828 | ||||
Interest Cost | 4,665 | 4,885 | 5,612 | ||||
Actuarial (Gain) Loss | (39,962) | (14,934) | 32,172 | ||||
Benefits Paid | (2,139) | (2,087) | (11,677) | ||||
Expenses Paid | (416) | (259) | (260) | ||||
Settlements | (32,794) | (34,634) | 0 | ||||
Special/Contractual Termination Benefits | 0 | 0 | 61 | ||||
Projected Benefit Obligation at End of Year | 108,151 | 172,508 | 212,566 | ||||
Change in Plan Assets: | |||||||
Fair Value of Plan Assets at Beginning of Year | $ 165,274 | $ 165,274 | $ 165,274 | 165,274 | 171,775 | 161,646 | |
Actual Return (Loss) on Plan Assets | (25,649) | 30,479 | 17,066 | ||||
Employer Contributions | 0 | 0 | 5,000 | ||||
Benefits Paid | (2,139) | (2,087) | (11,677) | ||||
Expenses Paid | (416) | (259) | (260) | ||||
Settlements | (32,794) | (34,634) | 0 | ||||
Fair Value of Plan Assets at End of Year | 104,276 | 165,274 | 171,775 | ||||
Funded Status of Plan and Accrued Liability Recognized at End of Year: | |||||||
Other Liabilities | 3,875 | 7,234 | 40,791 | ||||
Accumulated Benefit Obligation at End of Year | 91,770 | 149,569 | 177,362 | ||||
Components of Net Periodic Benefit Costs: | |||||||
Service Cost | 6,289 | 6,971 | 5,828 | ||||
Interest Cost | 4,665 | 4,885 | 5,612 | ||||
Expected Return on Plan Assets | (10,701) | (11,147) | (10,993) | ||||
Amortization of Prior Service Costs | 15 | 15 | 15 | ||||
Special/Contractual Termination Benefits | 0 | 0 | 61 | ||||
Net Loss Amortization | 1,713 | 6,764 | 3,933 | ||||
Defined benefit plan settlement | 2,321 | 3,072 | 0 | ||||
Net Periodic Benefit Cost | $ 4,302 | $ 10,560 | $ 4,456 | ||||
Weighted-average assumptions used to determine benefit obligations: | |||||||
Discount Rate (in percent) | 5.63% | 3.11% | 2.88% | ||||
Rate of Compensation Increase (in percent) | 5.10% | 4.40% | 4% | ||||
Measurement Date | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||||
Weighted-Average Assumptions Used to Determine Benefit Cost: | |||||||
Discount Rate (in percent) | 3.11% | 2.88% | 3.53% | ||||
Expected Return on Plan Assets (in percent) | 6.75% | 6.75% | 7% | ||||
Rate of Compensation Increase (in percent) | 4.40% | 4% | 4% | ||||
Amortization Amounts from Accumulated Other Comprehensive Income: | |||||||
Net Actuarial Loss (Gain) | $ (3,612) | $ (34,265) | $ 26,098 | ||||
Prior Service Cost | (15) | (15) | (15) | ||||
Net Loss | (4,034) | (9,836) | (3,933) | ||||
Deferred Tax Expense (Benefit) | 1,942 | 11,183 | (5,615) | ||||
Other Comprehensive (Gain) Loss, net of tax | (5,719) | (32,933) | 16,535 | ||||
Amounts Recognized in Accumulated Other Comprehensive Income: | |||||||
Net Actuarial Losses | 7,653 | 15,300 | 59,400 | ||||
Prior Service Cost | 5 | 20 | 35 | ||||
Deferred Tax Benefit | (1,941) | (3,884) | (15,066) | ||||
Accumulated Other Comprehensive Loss, net of tax | $ 5,717 | $ 11,436 | $ 44,369 |
EMPLOYEE BENEFIT PLANS - (Pensi
EMPLOYEE BENEFIT PLANS - (Pension plan asset allocation) (Details) - Defined benefit pension plan [Member] | Dec. 31, 2022 | Dec. 31, 2021 |
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation (in percent) | 100% | |
Percentage of Plan Assets at Year-End (in percent) | 100% | 100% |
Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation (in percent) | 68% | |
Percentage of Plan Assets at Year-End (in percent) | 73% | 71% |
Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation (in percent) | 27% | |
Percentage of Plan Assets at Year-End (in percent) | 23% | 21% |
Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation (in percent) | 5% | |
Percentage of Plan Assets at Year-End (in percent) | 4% | 8% |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair Value of Plan Assets | $ 104,276 | $ 165,274 | $ 171,775 | $ 161,646 |
U.S. Treasury Securities [Member] | Level 1 Inputs [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair Value of Plan Assets | 17,264 | 200 | ||
Mutual Funds [Member] | Level 1 Inputs [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair Value of Plan Assets | 81,231 | 156,726 | ||
Cash and Cash Equivalents [Member] | Level 1 Inputs [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair Value of Plan Assets | 5,327 | 6,881 | ||
U.S. Government Agency [Member] | Level 2 Inputs [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair Value of Plan Assets | 0 | 527 | ||
Corporate Notes/Bonds [Member] | Level 2 Inputs [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair Value of Plan Assets | $ 454 | $ 940 |
EMPLOYEE BENEFIT PLANS - (Expec
EMPLOYEE BENEFIT PLANS - (Expected Benefit Payments) (Details) - Defined benefit pension plan [Member] $ in Thousands | Dec. 31, 2022 USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
2023 | $ 9,446 |
2024 | 8,896 |
2025 | 9,966 |
2026 | 9,638 |
2027 | 9,270 |
2028 through 2032 | 43,323 |
Total | $ 90,539 |
EMPLOYEE BENEFIT PLANS - (Amoun
EMPLOYEE BENEFIT PLANS - (Amounts contributed to pension plan in 2022 and 2021) (Details) - Defined benefit pension plan [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Actual Contributions | $ 0 | $ 5,000 |
Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Expected contribution for 2023 | 10,000 | |
Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Expected contribution for 2023 | $ 0 |
EMPLOYEE BENEFIT PLANS - (SERP
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Change in Projected Benefit Obligation: | |||
Actuarial (Gain) Loss | $ (4,223,000) | $ (31,339,000) | $ 27,924,000 |
Supplemental Executive Retirement Plan ("SERP") [Member] | |||
Change in Projected Benefit Obligation: | |||
Benefit Obligation at Beginning of Year | 13,534,000 | 13,402,000 | 10,244,000 |
Service Cost | 31,000 | 35,000 | 31,000 |
Interest Cost | 315,000 | 243,000 | 321,000 |
Actuarial (Gain) Loss | (2,932,000) | (146,000) | 1,826,000 |
Plan Amendments | 0 | 0 | 980,000 |
Projected Benefit Obligation at End of Year | 10,948,000 | 13,534,000 | 13,402,000 |
Funded Status of Plan and Accrued Liability Recognized at End of Year: | |||
Other Liabilities | 10,948,000 | 13,534,000 | 13,402,000 |
Accumulated Benefit Obligation at End of Year | 10,887,000 | 12,803,000 | 12,339,000 |
Components of Net Periodic Benefit Costs: | |||
Service Cost | 31,000 | 35,000 | 31,000 |
Interest Cost | 315,000 | 243,000 | 321,000 |
Amortization of Prior Service Cost | 277,000 | 277,000 | 327,000 |
Net Loss Amortization | 718,000 | 970,000 | 503,000 |
Net Periodic Benefit Cost | $ 1,341,000 | $ 1,525,000 | $ 1,182,000 |
Weighted-Average Assumptions Used to Determine Benefit Obligation: | |||
Discount Rate (in percent) | 5.45% | 2.80% | 2.38% |
Rate of Compensation Increase (in percent) | 5.10% | 4.40% | 4% |
Measurement Date | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Weighted-Average Assumptions Used to Determine Benefit Cost: | |||
Discount Rate (in percent) | 2.80% | 2.38% | 3.16% |
Rate of Compensation Increase (in percent) | 4.40% | 4% | 3.50% |
Amortization Amounts from Accumulated Other Comprehensive Income: | |||
Net Actuarial Loss (Gain) | $ (2,932,000) | $ (146,000) | $ 1,826,000 |
Prior Service (Benefit) Cost | (277,000) | (219,000) | 895,000 |
Net Loss | (718,000) | (970,000) | (458,000) |
Deferred Tax Expense (Benefit) | 995,000 | 154,000 | (573,000) |
Other Comprehensive (Gain) Loss, net of tax | (2,932,000) | (1,181,000) | 1,690,000 |
Amounts Recognized in Accumulated Other Comprehensive Income: | |||
Net Actuarial Loss | (1,775,000) | 1,875,000 | 2,991,000 |
Prior Service Cost | 151,000 | 429,000 | 895,000 |
Deferred Tax Benefit | 412,000 | (584,000) | (985,000) |
Accumulated Other Comprehensive Loss, net of tax | $ (1,212,000) | $ 1,720,000 | $ 2,901,000 |
EMPLOYEE BENEFIT PLANS - (SER_2
EMPLOYEE BENEFIT PLANS - (SERP Expected Benefit Payments) (Details) - Supplemental Executive Retirement Plan ("SERP") [Member] $ in Thousands | Dec. 31, 2022 USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
2023 | $ 9,182 |
2024 | 1,044 |
2025 | 18 |
2026 | 19 |
2027 | 20 |
2028 through 2032 | 261 |
Total | $ 10,544 |
EARNINGS PER SHARE - (Computati
EARNINGS PER SHARE - (Computation of basic and diluted earnings per share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Numerator: | ||||||||
Net Income Attributable to Common Shareowners | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 |
Denominator: | ||||||||
Denominator for Basic Earnings Per Share Weighted-Average Shares | 16,960 | 16,949 | 16,931 | 16,940 | 16,947 | 16,951 | 16,863 | 16,785 |
Effects of Dilutive Securities Stock Compensation Plans | 34 | 30 | 37 | |||||
Denominator for Diluted Earnings Per Share Adjusted Weighted-Average Shares and Assumed Conversions | 16,996 | 16,971 | 16,946 | 16,958 | 16,973 | 16,985 | 16,893 | 16,822 |
Basic Earnings Per Share (in dollars per shares) | $ 0.57 | $ 0.43 | $ 0.41 | $ 0.84 | $ 1.40 | $ 1.97 | $ 1.98 | $ 1.88 |
Diluted Earnings Per Share (in dollars per shares) | $ 0.57 | $ 0.43 | $ 0.41 | $ 0.84 | $ 1.40 | $ 1.97 | $ 1.98 | $ 1.88 |
REGULATORY MATTERS - (Company a
REGULATORY MATTERS - (Company and Bank's actual capital amounts and ratios) (Details) $ in Thousands | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Capital City Bank Group [Member] | ||
Actual [Abstract] | ||
Common Equity Tier 1 | $ 335,512 | $ 310,947 |
Tier 1 Capital | 386,512 | 361,947 |
Total Capital | 414,569 | 384,743 |
Tier 1 leverage | $ 386,512 | $ 361,947 |
Common Equity Tier 1, percent | 0.1238 | 0.1386 |
Tier 1 Capital, percent | 0.1427 | 0.1614 |
Total Capital, percent | 0.1530 | 0.1715 |
Tier 1 Leverage, percent | 0.0891 | 0.0895 |
Required for Capital Adequacy Purposes [Abstract] | ||
Common Equity Tier 1, Required for Capital | $ 121,918 | $ 100,925 |
Tier I Capital, Required for Capital | 162,557 | 134,566 |
Total Capital, Required for Capital | 216,743 | 179,422 |
Tier 1 Leverage, Required for Capital | $ 173,546 | $ 161,749 |
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 | $ 47,000 | |
Actual [Abstract] | ||
Common Equity Tier 1 | 358,882 | $ 346,959 |
Tier 1 Capital | 358,882 | 346,959 |
Total Capital | 386,067 | 369,754 |
Tier 1 leverage | $ 358,882 | $ 346,959 |
Common Equity Tier 1, percent | 0.1325 | 0.1550 |
Tier 1 Capital, percent | 0.1325 | 0.1550 |
Total Capital, percent | 0.1425 | 0.1652 |
Tier 1 Leverage, percent | 0.0827 | 0.0859 |
Required for Capital Adequacy Purposes [Abstract] | ||
Common Equity Tier 1, Required for Capital | $ 121,913 | $ 100,725 |
Tier I Capital, Required for Capital | 162,550 | 134,300 |
Total Capital, Required for Capital | 216,733 | 179,066 |
Tier 1 Leverage, Required for Capital | $ 173,505 | $ 161,515 |
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 Capitalized Under Prompt Corrective Action Provisions [Abstract] | ||
Common Equity Tier 1, Well-Capitalized | $ 176,096 | $ 145,491 |
Tier 1 Capital, Well-Capitalized | 216,733 | 179,066 |
Total Capital, Well-Capitalized | 270,917 | 223,833 |
Tier 1 Leverage, Well-Capitalized | $ 216,881 | $ 201,894 |
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) - (Schedule of other comprehensive income (loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Activity in accumulated other comprehensive loss, net of tax | ||||||||
Balance, Beginning | $ (40,765) | $ (33,743) | $ (16,214) | $ (16,214) | $ (16,214) | $ (16,214) | ||
Other comprehensive (loss) income during the period | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | $ 27,928 | $ (15,961) |
Balance, Ending | (48,203) | (40,765) | (33,743) | (40,765) | (48,203) | (37,229) | (16,214) | |
Interest Rate Swaps [Member] | ||||||||
Activity in accumulated other comprehensive loss, net of tax | ||||||||
Balance, Beginning | 1,530 | 1,530 | 1,530 | 1,530 | 428 | 0 | ||
Other comprehensive (loss) income during the period | 3,095 | 1,102 | 428 | |||||
Balance, Ending | 4,625 | 1,530 | 428 | |||||
Securities Available For Sale [Member] | ||||||||
Activity in accumulated other comprehensive loss, net of tax | ||||||||
Balance, Beginning | (4,588) | (4,588) | (4,588) | (4,588) | 2,700 | 864 | ||
Other comprehensive (loss) income during the period | (32,761) | (7,288) | 1,836 | |||||
Balance, Ending | (37,349) | (4,588) | 2,700 | |||||
Retirement Plan [member] | ||||||||
Activity in accumulated other comprehensive loss, net of tax | ||||||||
Balance, Beginning | (13,156) | (13,156) | (13,156) | (13,156) | (47,270) | (29,045) | ||
Other comprehensive (loss) income during the period | 8,651 | 34,114 | (18,225) | |||||
Balance, Ending | (4,505) | (13,156) | (47,270) | |||||
Accumulated Other Comprehensive (Loss) Income [Member] | ||||||||
Activity in accumulated other comprehensive loss, net of tax | ||||||||
Balance, Beginning | (16,214) | (16,214) | (16,214) | (16,214) | (44,142) | (28,181) | ||
Other comprehensive (loss) income during the period | $ (7,438) | $ (7,022) | $ (17,529) | $ (24,551) | $ (31,989) | (21,015) | 27,928 | (15,961) |
Balance, Ending | $ (37,229) | $ (16,214) | $ (44,142) |
RELATED PARTY TRANSACTIONS (Nar
RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Management [Member] | ||
Related Party Transaction [Line Items] | ||
Officers and directors indebted aggregate amount | $ 7.3 | $ 3.8 |
Loan taken | 8.5 | 2.4 |
Loan payment made | 5 | 2.9 |
Deposits from certain directors, executive officers, and their related interests | 66.3 | $ 50.1 |
Lease Agreement [Member] | ||
Related Party Transaction [Line Items] | ||
Annual lease payments of approximately | $ 0.2 | |
Lease Expiration Date | Dec. 31, 2052 |
OTHER NONINTEREST EXPENSE - (Na
OTHER NONINTEREST EXPENSE - (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Other Noninterest Expense [Abstract] | |
Expense not disclosed separately of percentage of total interest and non interest expense | 1% |
OTHER NONINTEREST EXPENSE (Sche
OTHER NONINTEREST EXPENSE (Schedule of components of other noninterest expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Noninterest Expense: | ||||||||
Legal Fees | $ 1,413 | $ 1,411 | $ 1,570 | |||||
Professional Fees | 5,437 | 5,633 | 4,863 | |||||
Telephone | 2,851 | 2,975 | 2,869 | |||||
Advertising | 3,208 | 2,683 | 2,998 | |||||
Processing Services | 6,534 | 6,569 | 5,832 | |||||
Insurance - Other | 2,409 | 2,096 | 1,607 | |||||
Pension - Other | (3,043) | 1,913 | (216) | |||||
Pension - Settlement | $ 169 | $ 209 | $ 378 | $ 480 | 2,321 | 3,072 | 0 | |
Other | 14,411 | 10,754 | 11,500 | |||||
Total | $ 8,579 | $ 16,985 | $ 25,564 | $ 35,541 | $ 37,106 | $ 31,023 |
COMMITMENTS AND CONTINGENCIES -
COMMITMENTS AND CONTINGENCIES - (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Loss Contingencies [Line Items] | |||
Loss Contingency Pending Claims Number | 0 | ||
Banktech Ventures [Member] | |||
Other Commitments [Line Items] | |||
General Partners' Contributed Capital | $ 0.2 | $ 0.1 | |
Banktech Ventures [Member] | Maximum [Member] | |||
Other Commitments [Line Items] | |||
Outstanding commitment | 1 | ||
Solar Tax Credit Equity Fund [Member] | |||
Other Commitments [Line Items] | |||
General Partners' Contributed Capital | 1 | ||
Solar Tax Credit Equity Fund [Member] | Maximum [Member] | |||
Other Commitments [Line Items] | |||
Outstanding commitment | 7 | ||
Visa U.S.A. network [Member] | Indemnification Obligation [Member] | |||
Loss Contingencies [Line Items] | |||
Loss Contingency Accrual, Payments | 0.9 | 0.8 | $ 0.7 |
Loss Contingency Accrual | $ 0.1 | $ 0.1 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Company's off-balance sheet obligations) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Loss Contingencies [Line Items] | ||
Fixed | $ 249,233 | $ 222,736 |
Variable | 531,873 | 505,897 |
Total | 781,106 | 728,633 |
Commitments to Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Fixed | 243,614 | 217,531 |
Variable | 531,873 | 505,897 |
Total | 775,487 | 723,428 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Fixed | 5,619 | 5,205 |
Variable | 0 | 0 |
Total | $ 5,619 | $ 5,205 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Beginning Balance | $ 2,897 | $ 1,644 | $ 157 |
Provision for Credit Losses | 92 | 1,253 | 611 |
Ending Balance | 2,989 | 2,897 | 1,644 |
Impact Of Adoption Of ASC 326 [Member] | |||
Beginning Balance | $ 0 | 0 | 876 |
Ending Balance | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS - (Narr
FAIR VALUE MEASUREMENTS - (Narrative) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | 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 | 15,400,000 | 31,300,000 |
Transfers | 28,500,000 | 47,700,000 |
Valuation allowance for mortgage servicing rights | 0 | 0 |
Fair value swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional Amount | 100,000 | 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 | 700,000 | 2,800,000 |
Impaired loans valuation allowance | $ 100,000 | $ 200,000 |
FAIR VALUE MEASUREMENTS - (Summ
FAIR VALUE MEASUREMENTS - (Summary of fair values for assets and liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
ASSETS: | |||||
Loans Held for Sale | $ 26,909 | $ 23,162 | $ 24,986 | $ 46,256 | $ 52,532 |
Other Assets | 119,337 | 118,272 | 111,270 | 106,330 | 94,349 |
LIABILITIES: | |||||
Other Liabilities | 73,675 | $ 84,657 | $ 93,319 | $ 77,323 | 67,735 |
Fair Value, Measurements, Recurring [Member] | |||||
ASSETS: | |||||
Loans Held for Sale | 26,909 | 52,532 | |||
Interest Rate Swap Derivative | 6,195 | 2,050 | |||
Fair Value, Measurements, Recurring [Member] | U.S. Government Treasury [Member] | |||||
ASSETS: | |||||
Assets, Fair Value Disclosure | 22,050 | 187,868 | |||
Fair Value, Measurements, Recurring [Member] | U.S. Government Agency [Member] | |||||
ASSETS: | |||||
Assets, Fair Value Disclosure | 186,052 | 237,578 | |||
Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | |||||
ASSETS: | |||||
Assets, Fair Value Disclosure | 40,329 | 46,980 | |||
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | |||||
ASSETS: | |||||
Assets, Fair Value Disclosure | 69,405 | 88,869 | |||
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | |||||
ASSETS: | |||||
Assets, Fair Value Disclosure | 88,236 | 86,222 | |||
Fair Value, Measurements, Recurring [Member] | Mortgage Banking IRLC Derivative [Member] | |||||
ASSETS: | |||||
Other Assets | 819 | 1,258 | |||
Fair Value, Measurements, Recurring [Member] | Mortgage Banking Hedge Derivative [Member] | |||||
ASSETS: | |||||
Other Assets | 187 | ||||
LIABILITIES: | |||||
Other Liabilities | 7 | ||||
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | |||||
ASSETS: | |||||
Loans Held for Sale | 0 | 0 | |||
Interest Rate Swap Derivative | 0 | 0 | |||
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government Treasury [Member] | |||||
ASSETS: | |||||
Assets, Fair Value Disclosure | 22,050 | 187,868 | |||
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] | Corporate Debt Securities [Member] | |||||
ASSETS: | |||||
Assets, Fair Value Disclosure | 0 | 0 | |||
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage Banking IRLC Derivative [Member] | |||||
ASSETS: | |||||
Other Assets | 0 | 0 | |||
Level 1 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage Banking Hedge Derivative [Member] | |||||
ASSETS: | |||||
Other Assets | 0 | ||||
LIABILITIES: | |||||
Other Liabilities | 0 | ||||
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | |||||
ASSETS: | |||||
Loans Held for Sale | 26,909 | 52,532 | |||
Interest Rate Swap Derivative | 6,195 | 2,050 | |||
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 | 186,052 | 237,578 | |||
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | |||||
ASSETS: | |||||
Assets, Fair Value Disclosure | 40,329 | 46,980 | |||
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | |||||
ASSETS: | |||||
Assets, Fair Value Disclosure | 69,405 | 88,869 | |||
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | |||||
ASSETS: | |||||
Assets, Fair Value Disclosure | 88,236 | 86,222 | |||
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage Banking IRLC Derivative [Member] | |||||
ASSETS: | |||||
Other Assets | 0 | 0 | |||
Level 2 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage Banking Hedge Derivative [Member] | |||||
ASSETS: | |||||
Other Assets | 187 | ||||
LIABILITIES: | |||||
Other Liabilities | 7 | ||||
Level 3 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | |||||
ASSETS: | |||||
Loans Held for Sale | 0 | 0 | |||
Interest Rate Swap Derivative | 0 | 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] | Corporate Debt Securities [Member] | |||||
ASSETS: | |||||
Assets, Fair Value Disclosure | 0 | 0 | |||
Level 3 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage Banking IRLC Derivative [Member] | |||||
ASSETS: | |||||
Other Assets | 819 | 1,258 | |||
Level 3 Inputs [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage Banking Hedge Derivative [Member] | |||||
ASSETS: | |||||
Other Assets | $ 0 | ||||
LIABILITIES: | |||||
Other Liabilities | $ 0 |
FAIR VALUE MEASUREMENTS - (Su_2
FAIR VALUE MEASUREMENTS - (Summary of estimated fair values of significant financial instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
ASSETS: | |||||||
Investment Securities Available for Sale | $ 413,294 | $ 416,745 | $ 601,405 | $ 624,361 | $ 654,611 | ||
Equity Securities | 10 | 1,349 | 900 | 855 | 861 | ||
Loans Held for Sale | 26,909 | 23,162 | 24,986 | 46,256 | 52,532 | ||
Mortgage Servicing Rights | 2,599 | 3,774 | $ 3,452 | $ 910 | |||
LIABILITIES: | |||||||
Derivative Liabilities | 73,675 | $ 84,657 | $ 93,319 | $ 77,323 | 67,735 | ||
Level 1 Inputs [Member] | |||||||
ASSETS: | |||||||
Cash | 72,114 | 65,313 | |||||
Short-Term Investments | 528,536 | 970,041 | |||||
Investment Securities, Held to Maturity | 431,733 | 113,877 | |||||
Equity Securities | 0 | ||||||
Other Equity Securities | 0 | ||||||
Mortgage Servicing Rights | 0 | 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 2 Inputs [Member] | |||||||
ASSETS: | |||||||
Cash | 0 | 0 | |||||
Short-Term Investments | 0 | 0 | |||||
Investment Securities, Held to Maturity | 180,968 | 225,822 | |||||
Equity Securities | 10 | ||||||
Other Equity Securities | 2,848 | ||||||
Mortgage Servicing Rights | 0 | 0 | |||||
Loans, Net of Allowance for Credit Losses | 0 | 0 | |||||
LIABILITIES: | |||||||
Deposits | 3,310,383 | 3,713,478 | |||||
Short-Term Borrowings | 56,793 | 34,557 | |||||
Subordinated Notes Payable | 45,763 | 42,609 | |||||
Long-Term Borrowings | 513 | 938 | |||||
Level 3 Inputs [Member] | |||||||
ASSETS: | |||||||
Cash | 0 | 0 | |||||
Short-Term Investments | 0 | 0 | |||||
Investment Securities, Held to Maturity | 0 | 0 | |||||
Equity Securities | 0 | ||||||
Other Equity Securities | 0 | ||||||
Mortgage Servicing Rights | 4,491 | 4,718 | |||||
Loans, Net of Allowance for Credit Losses | 2,377,229 | 1,903,640 | |||||
LIABILITIES: | |||||||
Deposits | 0 | 0 | |||||
Short-Term Borrowings | 0 | 0 | |||||
Subordinated Notes Payable | 0 | 0 | |||||
Long-Term Borrowings | 0 | 0 | |||||
Carrying Value [Member] | |||||||
ASSETS: | |||||||
Cash | 72,114 | 65,313 | |||||
Short-Term Investments | 528,536 | 970,041 | |||||
Investment Securities, Held to Maturity | 660,774 | 339,601 | |||||
Equity Securities | 10 | 861 | |||||
Other Equity Securities | 2,848 | 2,848 | |||||
Mortgage Servicing Rights | 2,599 | 3,774 | |||||
Loans, Net of Allowance for Credit Losses | 2,522,617 | 1,909,859 | |||||
LIABILITIES: | |||||||
Deposits | 3,939,317 | 3,712,862 | |||||
Short-Term Borrowings | 56,793 | 34,557 | |||||
Subordinated Notes Payable | 52,887 | 52,887 | |||||
Long-Term Borrowings | $ 513 | 884 | |||||
Carrying Value [Member] | Level 1 Inputs [Member] | |||||||
ASSETS: | |||||||
Equity Securities | 0 | ||||||
Other Equity Securities | 0 | ||||||
Carrying Value [Member] | Level 2 Inputs [Member] | |||||||
ASSETS: | |||||||
Equity Securities | 861 | ||||||
Other Equity Securities | 2,848 | ||||||
Carrying Value [Member] | Level 3 Inputs [Member] | |||||||
ASSETS: | |||||||
Equity Securities | 0 | ||||||
Other Equity Securities | $ 0 |
PARENT COMPANY FINANCIAL INFO_3
PARENT COMPANY FINANCIAL INFORMATION - (Statements of Financial Condition) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2019 |
ASSETS | ||||||
Cash and Due From Subsidiary Bank | $ 72,114 | $ 72,686 | $ 91,209 | $ 77,963 | $ 65,313 | |
Equity Securities | 10 | 1,349 | 900 | 855 | 861 | |
Goodwill and Other Intangibles | 93,093 | 93,133 | 93,173 | 93,213 | 93,253 | |
Other Assets | 119,337 | 118,272 | 111,270 | 106,330 | 94,349 | |
Total Assets | 4,519,223 | 4,327,991 | 4,351,327 | 4,308,528 | 4,263,849 | |
LIABILITIES | ||||||
Short-Term Borrowings | 56,793 | 52,271 | 39,463 | 30,865 | 34,557 | |
Other Long-Term Borrowings | 513 | 562 | 612 | 806 | 884 | |
Subordinated Notes Payable | 52,887 | 52,887 | 52,887 | 52,887 | 52,887 | |
Other Liabilities | 73,675 | 84,657 | 93,319 | 77,323 | 67,735 | |
Total Liabilities | 4,123,185 | 3,949,755 | 3,972,539 | 3,927,388 | 3,868,925 | |
SHAREOWNERS' EQUITY | ||||||
Common Stock, $.01 par value; 90,000,000 shares authorized;16,986,785 and 16,892,060 shares issued and outstanding at December 31, 2022 and 2021, respectively | 170 | 170 | 170 | 169 | 169 | |
Additional Paid-In Capital | 37,331 | 36,234 | 35,738 | 35,188 | 34,423 | |
Retained Earnings | 387,009 | 380,284 | 373,562 | 369,014 | 364,788 | |
Accumulated Other Comprehensive Loss, Net of Tax | (37,229) | (48,203) | (40,765) | (33,743) | (16,214) | |
Total Shareowners' Equity | 387,281 | 368,485 | 368,705 | 370,628 | 383,166 | $ 327,016 |
Total Liabilities and Shareowners' Equity | 4,519,223 | $ 4,327,991 | $ 4,351,327 | $ 4,308,528 | 4,263,849 | |
CCBG [Member] | ||||||
ASSETS | ||||||
Cash and Due From Subsidiary Bank | 42,737 | 25,768 | ||||
Equity Securities | 199 | 120 | ||||
Investment in Subsidiary Bank | 404,892 | 415,580 | ||||
Goodwill and Other Intangibles | 3,998 | 4,158 | ||||
Other Assets | 11,297 | 7,866 | ||||
Total Assets | 463,123 | 453,492 | ||||
LIABILITIES | ||||||
Subordinated Notes Payable | 52,887 | 52,887 | ||||
Other Liabilities | 22,955 | 17,439 | ||||
Total Liabilities | 75,842 | 70,326 | ||||
SHAREOWNERS' EQUITY | ||||||
Common Stock, $.01 par value; 90,000,000 shares authorized;16,986,785 and 16,892,060 shares issued and outstanding at December 31, 2022 and 2021, respectively | 170 | 169 | ||||
Additional Paid-In Capital | 37,331 | 34,423 | ||||
Retained Earnings | 387,009 | 364,788 | ||||
Accumulated Other Comprehensive Loss, Net of Tax | (37,229) | (16,214) | ||||
Total Shareowners' Equity | 387,281 | 383,166 | ||||
Total Liabilities and Shareowners' Equity | $ 463,123 | $ 453,492 |
PARENT COMPANY FINANCIAL INFO_4
PARENT COMPANY FINANCIAL INFORMATION - (Statements of Financial Condition (Parenthetical)) (Details) - $ / shares | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Condensed Financial Statements, Captions [Line Items] | |||||||
Common stock, par value (in dollar per share) | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||
Common stock, shares authorized | 90,000,000 | 90,000,000 | 90,000,000 | 90,000,000 | 90,000,000 | ||
Common stock, shares issued | 16,986,785 | 16,961,812 | 16,959,280 | 16,947,602 | 16,892,060 | ||
Common stock, shares outstanding | 16,986,785 | 16,961,812 | 16,959,280 | 16,947,602 | 16,892,060 | 16,790,573 | 16,771,544 |
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 | 16,986,785 | 16,892,060 | |||||
Common stock, shares outstanding | 16,986,785 | 16,892,060 |
PARENT COMPANY FINANCIAL INFO_5
PARENT COMPANY FINANCIAL INFORMATION - (Statements of Operations) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
OPERATING EXPENSE | ||||||||
Salaries and Associate Benefits | $ 22,967 | $ 23,222 | $ 22,298 | $ 45,520 | $ 68,487 | $ 91,519 | $ 101,470 | $ 96,280 |
Interest on Subordinated Notes Payable | 443 | 370 | 317 | 687 | 1,130 | 1,652 | 1,228 | 1,472 |
Professional Fees | 5,437 | 5,633 | 4,863 | |||||
Advertising | 3,208 | 2,683 | 2,998 | |||||
Legal Fees | 1,413 | 1,411 | 1,570 | |||||
Earnings Before Income Taxes and Equity in Undistributed Earnings of Subsidiary Bank | 12,061 | 9,251 | 9,249 | 18,500 | 30,561 | 41,075 | 49,451 | 52,884 |
Income Tax Benefit | 2,493 | 1,685 | 1,720 | 3,405 | 5,898 | 7,798 | 9,835 | 10,230 |
Net Income Attributable to Common Shareowners | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | 33,412 | 33,396 | 31,576 |
CCBG [Member] | ||||||||
OPERATING INCOME | ||||||||
Administrative Fees | 5,396 | 5,516 | 6,068 | |||||
Dividends | 23,000 | 10,000 | 21,000 | |||||
Other Income | 253 | 174 | 193 | |||||
Total Operating Income | 28,649 | 15,690 | 27,261 | |||||
OPERATING EXPENSE | ||||||||
Salaries and Associate Benefits | 5,034 | 3,558 | 3,418 | |||||
Interest on Subordinated Notes Payable | 1,652 | 1,233 | 1,514 | |||||
Professional Fees | 616 | 1,113 | 1,079 | |||||
Advertising | 232 | 134 | 140 | |||||
Legal Fees | 370 | 589 | 456 | |||||
Other | 2,186 | 2,087 | 1,673 | |||||
Total Operating Expense | 10,090 | 8,714 | 8,280 | |||||
Earnings Before Income Taxes and Equity in Undistributed Earnings of Subsidiary Bank | 18,559 | 6,976 | 18,981 | |||||
Income Tax Benefit | (661) | (717) | (406) | |||||
Earnings Before Equity in Undistributed Earnings of Subsidiary Bank | 19,220 | 7,693 | 19,387 | |||||
Equity in Undistributed Earnings of Subsidiary Bank | 14,192 | 25,703 | 12,189 | |||||
Net Income Attributable to Common Shareowners | $ 33,412 | $ 33,396 | $ 31,576 |
PARENT COMPANY FINANCIAL INFO_6
PARENT COMPANY FINANCIAL INFORMATION - (Statements of Cash Flows) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
Net Income Attributable to Common Shareowners | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 |
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities: | ||||||||
Stock Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | 843 | 892 |
Amortization of Intangible Assets | 40 | 80 | 120 | 160 | 107 | 0 | ||
Increase in Other Assets | 1,897 | 3,516 | 3,696 | (8,636) | 10,885 | (38,353) | ||
Increase in Other Liabilities | 7,036 | 22,040 | 12,839 | 8,837 | (7,846) | 40,624 | ||
Net Cash Provided By Operating Activities | 20,826 | 69,182 | 74,876 | 82,508 | 115,924 | (48,611) | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
Net Cash Paid for Acquisition | 0 | (4,482) | (2,405) | |||||
Net Cash Provided by (Used in) Investing Activities | (234,105) | (483,114) | (596,043) | (755,641) | (447,720) | (32,594) | ||
CASH FROM FINANCING ACTIVITIES: | ||||||||
Repayment of Long-Term Borrowings | (78) | (150) | (200) | (249) | (1,332) | (3,363) | ||
Dividends Paid | (2,712) | (5,424) | (8,307) | (11,191) | (10,459) | (9,567) | ||
Issuance of Common Stock Under Compensation Plans | (190) | (496) | (577) | 1,300 | 1,028 | 1,041 | ||
Payments to Repurchase Common Stock | 0 | 0 | 2,042 | |||||
Net Cash Used In Financing Activities | 46,353 | 73,102 | 56,178 | 238,429 | 438,601 | 631,331 | ||
Net Increase (Decrease) in Cash | (166,926) | (340,830) | (464,989) | (434,704) | 106,805 | 550,126 | ||
Cash at Beginning of Year | 694,524 | 868,428 | 1,035,354 | 1,035,354 | 1,035,354 | 1,035,354 | 928,549 | 378,423 |
Cash at End of Year | $ 570,365 | $ 694,524 | 868,428 | 694,524 | 570,365 | 600,650 | 1,035,354 | 928,549 |
CCBG [Member] | ||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
Net Income Attributable to Common Shareowners | 33,412 | 33,396 | 31,576 | |||||
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities: | ||||||||
Equity in Undistributed Earnings of Subsidiary Bank | (14,192) | (25,703) | (12,189) | |||||
Stock Compensation | 1,278 | 843 | 892 | |||||
Amortization of Intangible Assets | 160 | 107 | 0 | |||||
Increase in Other Assets | (336) | (21) | (217) | |||||
Increase in Other Liabilities | 5,847 | 3,131 | 1,900 | |||||
Net Cash Provided By Operating Activities | 26,169 | 11,753 | 21,962 | |||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
Purchase of Equity Securities | (79) | (120) | 0 | |||||
Net Cash Paid for Acquisition | 0 | (4,482) | 0 | |||||
Decrease (Increase) in Investment in Subsidiaries | 770 | (10,770) | 0 | |||||
Net Cash Provided by (Used in) Investing Activities | 691 | (15,372) | 0 | |||||
CASH FROM FINANCING ACTIVITIES: | ||||||||
Repayment of Long-Term Borrowings | 0 | (900) | (600) | |||||
Dividends Paid | (11,191) | (10,459) | (9,567) | |||||
Issuance of Common Stock Under Compensation Plans | 1,300 | 1,028 | 1,041 | |||||
Payments to Repurchase Common Stock | 0 | 0 | (2,042) | |||||
Net Cash Used In Financing Activities | (9,891) | (10,331) | (11,168) | |||||
Net Increase (Decrease) in Cash | 16,969 | (13,950) | 10,794 | |||||
Cash at Beginning of Year | $ 25,768 | $ 25,768 | $ 25,768 | 25,768 | 39,718 | 28,924 | ||
Cash at End of Year | $ 42,737 | $ 25,768 | $ 39,718 |
QUARTERLY RESULTS OF OPERATIO_3
QUARTERLY RESULTS OF OPERATIONS - (Schedule of Interim Consolidated Statement of Financial Condition) (Details) - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 01, 2020 | Dec. 31, 2019 |
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Cash and Due From Banks | $ 72,114 | $ 72,686 | $ 91,209 | $ 77,963 | $ 65,313 | |||
Federal Funds Sold and Interest Bearing Deposits | 528,536 | 497,679 | 603,315 | 790,465 | 970,041 | |||
Total Cash and Cash Equivalents | 600,650 | 570,365 | 694,524 | 868,428 | 1,035,354 | $ 928,549 | $ 378,423 | |
Investment Securities, Available for Sale, at fair value (amortized cost of $455,232 and $660,732) | 413,294 | 416,745 | 601,405 | 624,361 | 654,611 | |||
Investment Securities, Held to Maturity (fair value of $612,702 and $339,699) | 660,744 | 676,178 | 528,258 | 518,678 | 339,601 | |||
Other Equity Securities | 10 | 1,349 | 900 | 855 | 861 | |||
Total Investment Securities | 1,074,048 | 1,094,272 | 1,130,563 | 1,143,894 | 995,073 | |||
Loans Held for Sale | 26,909 | 23,162 | 24,986 | 46,256 | 52,532 | |||
Loans, Net of Unearned Income | 2,547,685 | 2,369,785 | 2,235,252 | 1,988,660 | 1,931,465 | |||
Allowance for Credit Losses | (25,068) | (22,747) | (21,463) | (20,788) | (21,606) | $ (23,816) | (13,905) | |
Loans Held for Investment, Net | 2,522,617 | 2,347,038 | 2,213,789 | 1,967,872 | 1,909,859 | |||
Premises and Equipment, Net | 82,138 | 81,736 | 82,932 | 82,518 | 83,412 | |||
Goodwill | 93,093 | 93,133 | 93,173 | 93,213 | 93,253 | |||
Other Real Estate Owned | 431 | 13 | 90 | 17 | 17 | |||
Other Assets | 119,337 | 118,272 | 111,270 | 106,330 | 94,349 | |||
Total Assets | 4,519,223 | 4,327,991 | 4,351,327 | 4,308,528 | 4,263,849 | |||
Noninterest Bearing Deposits | 1,653,620 | 1,737,046 | 1,724,671 | 1,704,329 | 1,668,912 | |||
Interest Bearing Deposits | 2,285,697 | 2,022,332 | 2,061,587 | 2,061,178 | 2,043,950 | |||
Total Deposits | 3,939,317 | 3,759,378 | 3,786,258 | 3,765,507 | 3,712,862 | |||
Short-Term Borrowings | 56,793 | 52,271 | 39,463 | 30,865 | 34,557 | |||
Subordinated Notes Payable | 52,887 | 52,887 | 52,887 | 52,887 | 52,887 | |||
Other Long-Term Borrowings | 513 | 562 | 612 | 806 | 884 | |||
Other Liabilities | 73,675 | 84,657 | 93,319 | 77,323 | 67,735 | |||
Total Liabilities | 4,123,185 | 3,949,755 | 3,972,539 | 3,927,388 | 3,868,925 | |||
Temporary Equity | 8,757 | 9,751 | 10,083 | 10,512 | 11,758 | $ 7,400 | ||
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;16,986,785 and 16,892,060 shares issued and outstanding at December 31, 2022 and 2021, respectively | 170 | 170 | 170 | 169 | 169 | |||
Additional Paid-In Capital | 37,331 | 36,234 | 35,738 | 35,188 | 34,423 | |||
Retained Earnings | 387,009 | 380,284 | 373,562 | 369,014 | 364,788 | |||
Accumulated Other Comprehensive Loss, Net of Tax | (37,229) | (48,203) | (40,765) | (33,743) | (16,214) | |||
Total Shareowners' Equity | 387,281 | 368,485 | 368,705 | 370,628 | 383,166 | $ 327,016 | ||
Total Liabilities, Temporary Equity, and Shareowners' Equity | 4,519,223 | 4,327,991 | 4,351,327 | 4,308,528 | 4,263,849 | |||
Amortized Cost | 455,232 | 461,646 | 643,679 | 655,927 | 660,732 | |||
Investment securities, held to maturity, fair value | $ 612,701 | $ 623,628 | $ 498,963 | $ 501,277 | $ 339,699 | |||
Preferred Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||
Preferred Stock, authorized | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | |||
Preferred Stock, issued | 0 | 0 | 0 | 0 | 0 | |||
Preferred Stock, outstanding | 0 | 0 | 0 | 0 | 0 | |||
Common Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||
Common Stock, authorized | 90,000,000 | 90,000,000 | 90,000,000 | 90,000,000 | 90,000,000 | |||
Common Stock, issued | 16,986,785 | 16,961,812 | 16,959,280 | 16,947,602 | 16,892,060 | |||
Common Stock, outstanding | 16,986,785 | 16,961,812 | 16,959,280 | 16,947,602 | 16,892,060 | 16,790,573 | 16,771,544 | |
Scenario Previously Reported [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Cash and Due From Banks | $ 72,114 | $ 72,686 | $ 91,209 | $ 77,963 | ||||
Federal Funds Sold and Interest Bearing Deposits | 528,536 | 497,679 | 603,315 | 790,465 | ||||
Total Cash and Cash Equivalents | 600,650 | 570,365 | 694,524 | 868,428 | $ 1,035,354 | |||
Investment Securities, Available for Sale, at fair value (amortized cost of $455,232 and $660,732) | 413,294 | 416,745 | 601,405 | 624,361 | ||||
Investment Securities, Held to Maturity (fair value of $612,702 and $339,699) | 660,744 | 676,178 | 528,258 | 518,678 | ||||
Other Equity Securities | 10 | 1,349 | 900 | 855 | ||||
Total Investment Securities | 1,074,048 | 1,094,272 | 1,130,563 | 1,143,894 | ||||
Loans Held for Sale | 54,635 | 50,304 | 48,708 | 50,815 | ||||
Loans, Net of Unearned Income | 2,525,180 | 2,346,185 | 2,213,653 | 1,985,509 | ||||
Allowance for Credit Losses | (24,736) | (22,510) | (21,281) | (20,756) | ||||
Loans Held for Investment, Net | 2,500,444 | 2,323,675 | 2,192,372 | 1,964,753 | ||||
Premises and Equipment, Net | 82,138 | 81,736 | 82,932 | 82,518 | ||||
Goodwill | 93,093 | 93,133 | 93,173 | 93,213 | ||||
Other Real Estate Owned | 431 | 13 | 90 | 17 | ||||
Other Assets | 120,519 | 119,173 | 111,935 | 106,407 | ||||
Total Assets | 4,525,958 | 4,332,671 | 4,354,297 | 4,310,045 | ||||
Noninterest Bearing Deposits | 1,653,620 | 1,737,046 | 1,724,671 | 1,704,329 | ||||
Interest Bearing Deposits | 2,285,697 | 2,022,332 | 2,061,587 | 2,061,178 | ||||
Total Deposits | 3,939,317 | 3,759,378 | 3,786,258 | 3,765,507 | ||||
Short-Term Borrowings | 56,793 | 52,271 | 39,463 | 30,865 | ||||
Subordinated Notes Payable | 52,887 | 52,887 | 52,887 | 52,887 | ||||
Other Long-Term Borrowings | 513 | 562 | 612 | 806 | ||||
Other Liabilities | 73,675 | 84,657 | 93,319 | 77,323 | ||||
Total Liabilities | 4,123,185 | 3,949,755 | 3,972,539 | 3,927,388 | ||||
Temporary Equity | 8,757 | 9,751 | 10,083 | 10,512 | ||||
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;16,986,785 and 16,892,060 shares issued and outstanding at December 31, 2022 and 2021, respectively | 170 | 170 | 170 | 169 | ||||
Additional Paid-In Capital | 37,331 | 36,234 | 35,738 | 35,188 | ||||
Retained Earnings | 393,744 | 384,964 | 376,532 | 370,531 | ||||
Accumulated Other Comprehensive Loss, Net of Tax | (37,229) | (48,203) | (40,765) | (33,743) | ||||
Total Shareowners' Equity | 394,016 | 373,165 | 371,675 | 372,145 | $ 383,166 | |||
Total Liabilities, Temporary Equity, and Shareowners' Equity | $ 4,525,958 | $ 4,332,671 | $ 4,354,297 | $ 4,310,045 | ||||
Common Stock, outstanding | 16,986,785 | 16,961,812 | 16,959,280 | 16,947,602 | 16,892,060 | |||
Restatement Adjustment [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Cash and Due From Banks | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Federal Funds Sold and Interest Bearing Deposits | 0 | 0 | 0 | 0 | ||||
Total Cash and Cash Equivalents | 0 | 0 | 0 | 0 | $ 0 | |||
Investment Securities, Available for Sale, at fair value (amortized cost of $455,232 and $660,732) | 0 | 0 | 0 | 0 | ||||
Investment Securities, Held to Maturity (fair value of $612,702 and $339,699) | 0 | 0 | 0 | 0 | ||||
Other Equity Securities | 0 | 0 | 0 | 0 | ||||
Total Investment Securities | 0 | 0 | 0 | 0 | ||||
Loans Held for Sale | (27,726) | (27,142) | (23,722) | (4,559) | ||||
Loans, Net of Unearned Income | 22,505 | 23,600 | 21,599 | 3,151 | ||||
Allowance for Credit Losses | (332) | (237) | (182) | (32) | ||||
Loans Held for Investment, Net | 22,173 | 23,363 | 21,417 | 3,119 | ||||
Premises and Equipment, Net | 0 | 0 | 0 | 0 | ||||
Goodwill | 0 | 0 | 0 | 0 | ||||
Other Real Estate Owned | 0 | 0 | 0 | 0 | ||||
Other Assets | (1,182) | (901) | (665) | (77) | ||||
Total Assets | (6,735) | (4,680) | (2,970) | (1,517) | ||||
Noninterest Bearing Deposits | 0 | 0 | 0 | 0 | ||||
Interest Bearing Deposits | 0 | 0 | 0 | 0 | ||||
Total Deposits | 0 | 0 | 0 | 0 | ||||
Short-Term Borrowings | 0 | 0 | 0 | 0 | ||||
Subordinated Notes Payable | 0 | 0 | 0 | 0 | ||||
Other Long-Term Borrowings | 0 | 0 | 0 | 0 | ||||
Other Liabilities | 0 | 0 | 0 | 0 | ||||
Total Liabilities | 0 | 0 | 0 | 0 | ||||
Temporary Equity | 0 | 0 | 0 | 0 | ||||
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;16,986,785 and 16,892,060 shares issued and outstanding at December 31, 2022 and 2021, respectively | 0 | 0 | 0 | 0 | ||||
Additional Paid-In Capital | 0 | 0 | 0 | 0 | ||||
Retained Earnings | (6,735) | (4,680) | (2,970) | (1,517) | ||||
Accumulated Other Comprehensive Loss, Net of Tax | 0 | 0 | 0 | 0 | ||||
Total Shareowners' Equity | (6,735) | (4,680) | (2,970) | (1,517) | ||||
Total Liabilities, Temporary Equity, and Shareowners' Equity | $ (6,735) | $ (4,680) | $ (2,970) | $ (1,517) |
QUARTERLY RESULTS OF OPERATIO_4
QUARTERLY RESULTS OF OPERATIONS - (Schedule of Interim Consolidated Statement of Income) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Loans, including Fees | $ 27,839 | $ 24,268 | $ 22,429 | $ 46,697 | $ 74,536 | $ 106,444 | $ 96,561 | $ 94,752 |
Taxable Securities | 4,360 | 3,833 | 2,890 | 6,723 | 11,083 | 15,917 | 8,724 | 10,176 |
Tax Exempt Securities | 12 | 7 | 6 | 13 | 25 | 38 | 68 | 98 |
Funds Sold | 3,231 | 1,408 | 409 | 1,817 | 5,048 | 9,511 | 998 | 1,171 |
Total Interest Income | 35,442 | 29,516 | 25,734 | 55,250 | 90,692 | 131,910 | 106,351 | 106,197 |
Deposits | 1,052 | 266 | 224 | 490 | 1,542 | 3,444 | 839 | 1,548 |
Short-Term Borrowings | 536 | 343 | 192 | 535 | 1,071 | 1,761 | 1,360 | 1,690 |
Subordinated Notes Payable | 443 | 370 | 317 | 687 | 1,130 | 1,652 | 1,228 | 1,472 |
Other Long-Term Borrowings | 6 | 8 | 9 | 17 | 23 | 31 | 63 | 161 |
Total Interest Expense | 2,037 | 987 | 742 | 1,729 | 3,766 | 6,888 | 3,490 | 4,871 |
NET INTEREST INCOME | 33,405 | 28,529 | 24,992 | 53,521 | 86,926 | 125,022 | 102,861 | 101,326 |
Provision for Loan Losses | 2,154 | 1,692 | 32 | 1,724 | 3,878 | 7,494 | (1,553) | 9,645 |
Net Interest Income After Provision for Credit Losses | 31,251 | 26,837 | 24,960 | 51,797 | 83,048 | 117,528 | 104,414 | 91,681 |
Other | 1,870 | 1,823 | 1,733 | 3,556 | 5,426 | 7,691 | 7,271 | 5,942 |
Total Noninterest Income | 18,509 | 20,564 | 20,812 | 41,376 | 59,885 | 75,181 | 107,545 | 111,165 |
Compensation | 22,967 | 23,222 | 22,298 | 45,520 | 68,487 | 91,519 | 101,470 | 96,280 |
Occupancy, Net | 6,153 | 6,075 | 6,093 | 12,168 | 18,321 | 24,574 | 23,932 | 22,659 |
Other Real Estate Owned, Net | (29) | 25 | (337) | (1,488) | 104 | |||
Pension - Settlement | 169 | 209 | 378 | 480 | 2,321 | 3,072 | 0 | |
Other | 8,579 | 16,985 | 25,564 | 35,541 | 37,106 | 31,023 | ||
Total Noninterest Expense | 37,699 | 38,150 | 36,523 | 74,673 | 112,372 | 151,634 | 162,508 | 149,962 |
INCOME BEFORE INCOME TAXES | 12,061 | 9,251 | 9,249 | 18,500 | 30,561 | 41,075 | 49,451 | 52,884 |
Income Tax Benefit | 2,493 | 1,685 | 1,720 | 3,405 | 5,898 | 7,798 | 9,835 | 10,230 |
NET INCOME | 9,568 | 7,566 | 7,529 | 15,095 | 24,663 | 33,277 | 39,616 | 42,654 |
Loss (Income) Attributable to Noncontrolling Interests | (37) | 306 | 591 | 897 | 860 | 135 | (6,220) | (11,078) |
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 |
BASIC NET INCOME PER SHARE (in dollars per share) | $ 0.57 | $ 0.43 | $ 0.41 | $ 0.84 | $ 1.40 | $ 1.97 | $ 1.98 | $ 1.88 |
DILUTED NET INCOME PER SHARE (in dollars per share) | $ 0.57 | $ 0.43 | $ 0.41 | $ 0.84 | $ 1.40 | $ 1.97 | $ 1.98 | $ 1.88 |
Average Basic Common Shares Outstanding (in shares) | 16,960 | 16,949 | 16,931 | 16,940 | 16,947 | 16,951 | 16,863 | 16,785 |
Average Diluted Common Shares Outstanding (in shares) | 16,996 | 16,971 | 16,946 | 16,958 | 16,973 | 16,985 | 16,893 | 16,822 |
Deposit fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | $ 5,947 | $ 5,447 | $ 5,191 | $ 10,638 | $ 16,585 | $ 22,121 | $ 18,882 | $ 17,800 |
Bank card fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 3,860 | 4,034 | 3,763 | 7,797 | 11,657 | 15,401 | 15,274 | 13,044 |
Wealth management fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 3,937 | 4,403 | 6,070 | 10,473 | 14,410 | 18,059 | 13,693 | 11,035 |
Mortgage Banking Revenues [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 2,895 | 4,857 | 4,055 | 8,912 | 11,807 | 11,909 | $ 52,425 | $ 63,344 |
Scenario Previously Reported [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Loans, including Fees | 27,761 | 24,072 | 22,133 | 46,205 | 73,966 | 105,882 | ||
Taxable Securities | 4,360 | 3,833 | 2,890 | 6,723 | 11,083 | 15,917 | ||
Tax Exempt Securities | 12 | 7 | 6 | 13 | 25 | 38 | ||
Funds Sold | 3,231 | 1,408 | 409 | 1,817 | 5,048 | 9,511 | ||
Total Interest Income | 35,364 | 29,320 | 25,438 | 54,758 | 90,122 | 131,348 | ||
Deposits | 1,052 | 266 | 224 | 490 | 1,542 | 3,444 | ||
Short-Term Borrowings | 536 | 343 | 192 | 535 | 1,071 | 1,761 | ||
Subordinated Notes Payable | 443 | 370 | 317 | 687 | 1,130 | 1,652 | ||
Other Long-Term Borrowings | 6 | 8 | 9 | 17 | 23 | 31 | ||
Total Interest Expense | 2,037 | 987 | 742 | 1,729 | 3,766 | 6,888 | ||
NET INTEREST INCOME | 33,327 | 28,333 | 24,696 | 53,029 | 86,356 | 124,460 | ||
Provision for Loan Losses | 2,099 | 1,542 | 0 | 1,542 | 3,641 | 7,162 | ||
Net Interest Income After Provision for Credit Losses | 31,228 | 26,791 | 24,696 | 51,487 | 82,715 | 117,298 | ||
Other | 2,074 | 1,954 | 1,848 | 3,802 | 5,876 | 8,422 | ||
Total Noninterest Income | 22,934 | 24,903 | 25,818 | 50,721 | 73,655 | 94,627 | ||
Compensation | 24,738 | 25,383 | 24,856 | 50,239 | 74,977 | 100,542 | ||
Occupancy, Net | 6,153 | 6,075 | 6,093 | 12,168 | 18,321 | 24,574 | ||
Other Real Estate Owned, Net | (29) | 25 | ||||||
Pension - Settlement | 169 | 209 | 378 | 480 | 2,321 | |||
Other | 8,919 | 8,900 | 8,050 | 17,324 | 26,243 | 36,712 | ||
Total Noninterest Expense | 39,810 | 40,498 | 39,233 | 79,731 | 119,541 | 161,828 | ||
INCOME BEFORE INCOME TAXES | 14,352 | 11,196 | 11,281 | 22,477 | 36,829 | 50,097 | ||
Income Tax Benefit | 3,074 | 2,177 | 2,235 | 4,412 | 7,486 | 10,085 | ||
NET INCOME | 11,278 | 9,019 | 9,046 | 18,065 | 29,343 | 40,012 | ||
Loss (Income) Attributable to Noncontrolling Interests | (37) | 306 | 591 | 897 | 860 | 135 | ||
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ 11,315 | $ 8,713 | $ 8,455 | $ 17,168 | $ 28,483 | $ 40,147 | ||
BASIC NET INCOME PER SHARE (in dollars per share) | $ 0.67 | $ 0.51 | $ 0.50 | $ 1.01 | $ 1.68 | $ 2.37 | ||
DILUTED NET INCOME PER SHARE (in dollars per share) | $ 0.67 | $ 0.51 | $ 0.50 | $ 1.01 | $ 1.68 | $ 2.36 | ||
Average Basic Common Shares Outstanding (in shares) | 16,960 | 16,949 | 16,931 | 16,940 | 16,947 | 16,951 | ||
Average Diluted Common Shares Outstanding (in shares) | 16,996 | 16,971 | 16,946 | 16,958 | 16,973 | 16,985 | ||
Scenario Previously Reported [Member] | Deposit fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | $ 5,947 | $ 5,447 | $ 5,191 | $ 10,638 | $ 16,585 | $ 22,121 | ||
Scenario Previously Reported [Member] | Bank card fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 3,860 | 4,034 | 3,763 | 7,797 | 11,657 | 15,401 | ||
Scenario Previously Reported [Member] | Wealth management fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 3,937 | 4,403 | 6,070 | 10,473 | 14,410 | 18,059 | ||
Scenario Previously Reported [Member] | Mortgage Banking Revenues [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 7,116 | 9,065 | 8,946 | 18,011 | 25,127 | 30,624 | ||
Restatement Adjustment [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Loans, including Fees | 78 | 196 | 296 | 492 | 570 | 562 | ||
Taxable Securities | 0 | 0 | 0 | 0 | 0 | 0 | ||
Tax Exempt Securities | 0 | 0 | 0 | 0 | 0 | 0 | ||
Funds Sold | 0 | 0 | 0 | 0 | 0 | 0 | ||
Total Interest Income | 78 | 196 | 296 | 492 | 570 | 562 | ||
Deposits | 0 | 0 | 0 | 0 | 0 | 0 | ||
Short-Term Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | ||
Subordinated Notes Payable | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other Long-Term Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | ||
Total Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | ||
NET INTEREST INCOME | 78 | 196 | 296 | 492 | 570 | 562 | ||
Provision for Loan Losses | 55 | 150 | 32 | 182 | 237 | 332 | ||
Net Interest Income After Provision for Credit Losses | 23 | 46 | 264 | 310 | 333 | 230 | ||
Other | (204) | (131) | (115) | (246) | (450) | (731) | ||
Total Noninterest Income | (4,425) | (4,339) | (5,006) | (9,345) | (13,770) | (19,446) | ||
Compensation | (1,771) | (2,161) | (2,558) | (4,719) | (6,490) | (9,023) | ||
Occupancy, Net | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other Real Estate Owned, Net | 0 | 0 | ||||||
Pension - Settlement | 0 | 0 | 0 | 0 | 0 | |||
Other | (340) | (187) | (152) | (339) | (679) | (1,171) | ||
Total Noninterest Expense | (2,111) | (2,348) | (2,710) | (5,058) | (7,169) | (10,194) | ||
INCOME BEFORE INCOME TAXES | (2,291) | (1,945) | (2,032) | (3,977) | (6,268) | (9,022) | ||
Income Tax Benefit | (581) | (492) | (515) | (1,007) | (1,588) | (2,287) | ||
NET INCOME | (1,710) | (1,453) | (1,517) | (2,970) | (4,680) | (6,735) | ||
Loss (Income) Attributable to Noncontrolling Interests | 0 | 0 | 0 | 0 | 0 | 0 | ||
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ (1,710) | $ (1,453) | $ (1,517) | $ (2,970) | $ (4,680) | $ (6,735) | ||
BASIC NET INCOME PER SHARE (in dollars per share) | $ (0.10) | $ (0.08) | $ (0.09) | $ (0.17) | $ (0.28) | $ (0.40) | ||
DILUTED NET INCOME PER SHARE (in dollars per share) | $ (0.10) | $ (0.08) | $ (0.09) | $ (0.17) | $ (0.28) | $ (0.39) | ||
Average Basic Common Shares Outstanding (in shares) | 0 | 0 | 0 | 0 | 0 | 0 | ||
Average Diluted Common Shares Outstanding (in shares) | 0 | 0 | 0 | 0 | 0 | 0 | ||
Restatement Adjustment [Member] | Deposit fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Restatement Adjustment [Member] | Bank card fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 0 | 0 | 0 | 0 | 0 | 0 | ||
Restatement Adjustment [Member] | Wealth management fees [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | 0 | 0 | 0 | 0 | 0 | 0 | ||
Restatement Adjustment [Member] | Mortgage Banking Revenues [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Revenue, fees and commissions | $ (4,221) | $ (4,208) | $ (4,891) | $ (9,099) | $ (13,320) | $ (18,715) |
QUARTERLY RESULTS OF OPERATIO_5
QUARTERLY RESULTS OF OPERATIONS - (Schedule of Interim Consolidated Statement of Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Net Income Attributable to Common Shareowners | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 |
Change in net unrealized (loss) gain on securities available for sale | (2,618) | (10,714) | (25,445) | (36,158) | (38,778) | (35,814) | (9,673) | 2,437 |
Unrealized losses on securities transferred from available for sale to held to maturity | (9,384) | 0 | 0 | (9,384) | (9,384) | 0 | 0 | |
Amortization of unrealized losses on securities transferred from available for sale to held to maturity | 586 | 0 | 0 | 586 | 1,469 | 26 | 36 | |
Total Investment Securities | (11,416) | (10,714) | (25,445) | (43,729) | ||||
Change in net unrealized gain on effective cash flow derivative | 1,407 | 1,161 | 1,836 | 2,997 | 4,403 | 4,146 | 1,476 | 574 |
Defined benefit plan settlement | 102 | 169 | 209 | 378 | 480 | 2,321 | 3,072 | 0 |
Total Benefit Plans | 102 | 169 | 209 | 378 | 480 | 11,588 | 45,451 | (24,413) |
Other comprehensive (loss) income, before tax: | (9,907) | (9,384) | (23,400) | (32,783) | (42,693) | (27,995) | 37,280 | (21,366) |
Deferred tax (benefit) expense related to other comprehensive income | (2,469) | (2,362) | (5,871) | (8,232) | (10,704) | (6,980) | 9,352 | (5,405) |
Other comprehensive (loss) income, net of tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | 27,928 | (15,961) |
TOTAL COMPREHENSIVE INCOME | 2,167 | 238 | (10,591) | (10,353) | (8,186) | 12,397 | $ 61,324 | $ 15,615 |
Scenario Previously Reported [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Net Income Attributable to Common Shareowners | 11,315 | 8,713 | 8,455 | 17,168 | 28,483 | 40,147 | ||
Change in net unrealized (loss) gain on securities available for sale | (2,618) | (10,714) | (25,445) | (36,158) | (38,778) | (35,814) | ||
Unrealized losses on securities transferred from available for sale to held to maturity | (9,384) | (9,384) | (9,384) | |||||
Amortization of unrealized losses on securities transferred from available for sale to held to maturity | 586 | 586 | 1,469 | |||||
Total Investment Securities | (43,729) | |||||||
Change in net unrealized gain on effective cash flow derivative | 1,407 | 1,161 | 1,836 | 2,997 | 4,403 | 4,146 | ||
Defined benefit plan settlement | 102 | 169 | 209 | 378 | 480 | 2,321 | ||
Total Benefit Plans | 102 | 169 | 209 | 378 | 480 | 11,588 | ||
Other comprehensive (loss) income, before tax: | (9,907) | (9,384) | (23,400) | (32,783) | (42,693) | (27,995) | ||
Deferred tax (benefit) expense related to other comprehensive income | (2,469) | (2,362) | (5,871) | (8,232) | (10,704) | (6,980) | ||
Other comprehensive (loss) income, net of tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | ||
TOTAL COMPREHENSIVE INCOME | 3,877 | 1,691 | (9,074) | (7,383) | (3,506) | 19,132 | ||
Restatement Adjustment [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Net Income Attributable to Common Shareowners | (1,710) | (1,453) | (1,517) | (2,970) | (4,680) | (6,735) | ||
Change in net unrealized (loss) gain on securities available for sale | 0 | 0 | 0 | 0 | 0 | 0 | ||
Unrealized losses on securities transferred from available for sale to held to maturity | 0 | 0 | 0 | |||||
Amortization of unrealized losses on securities transferred from available for sale to held to maturity | 0 | 0 | 0 | |||||
Total Investment Securities | 0 | |||||||
Change in net unrealized gain on effective cash flow derivative | 0 | 0 | 0 | 0 | 0 | 0 | ||
Defined benefit plan settlement | 0 | 0 | 0 | 0 | 0 | 0 | ||
Total Benefit Plans | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other comprehensive (loss) income, before tax: | 0 | 0 | 0 | 0 | 0 | 0 | ||
Deferred tax (benefit) expense related to other comprehensive income | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other comprehensive (loss) income, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | ||
TOTAL COMPREHENSIVE INCOME | $ (1,710) | $ (1,453) | $ (1,517) | $ (2,970) | $ (4,680) | $ (6,735) |
QUARTERLY RESULTS OF OPERATIO_6
QUARTERLY RESULTS OF OPERATIONS - (Schedule of Interim Consolidated Statement of Changes in Shareholders Equity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | $ 368,705 | $ 370,628 | $ 383,166 | $ 383,166 | $ 383,166 | $ 383,166 | $ 327,016 | ||
Balance beginning (in shares) | 16,959,280 | 16,947,602 | 16,892,060 | 16,892,060 | 16,892,060 | 16,892,060 | 16,790,573 | 16,771,544 | |
Net Income (Loss) | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 | |
Reclassification to Temporary Equity | 9,323 | [1] | (9,323) | ||||||
Other Comprehensive (Income) Loss, Net of Tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | 27,928 | (15,961) | |
Cash Dividends | (2,883) | (2,712) | (2,712) | (5,424) | (8,307) | (11,191) | (10,459) | (9,567) | |
Stock Based Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | 843 | 892 | |
Stock Compensation Plan Transactions, net | $ 81 | $ 307 | $ 520 | $ 827 | $ 908 | $ 1,279 | $ 1,298 | $ 1,341 | |
Stock Compensation Plan Transactions, net (in shares) | 2,532 | 11,678 | 55,542 | 67,220 | 69,752 | 94,725 | 101,487 | ||
Balance ending | $ 368,485 | $ 368,705 | $ 370,628 | $ 368,705 | $ 368,485 | $ 387,281 | $ 383,166 | ||
Balance ending (in shares) | 16,961,812 | 16,959,280 | 16,947,602 | 16,959,280 | 16,961,812 | 16,986,785 | 16,892,060 | 16,790,573 | |
Cash Dividends (in dollars per share) | $ 0.16 | $ 0.16 | $ 0.16 | $ 0.32 | $ 0.49 | $ 0.66 | $ 0.62 | $ 0.57 | |
Common Stock [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | $ 170 | $ 169 | $ 169 | $ 169 | $ 169 | $ 169 | $ 168 | ||
Balance beginning (in shares) | 16,892,060 | 16,892,060 | 16,892,060 | 16,892,060 | |||||
Net Income (Loss) | $ 0 | $ 0 | 0 | ||||||
Reclassification to Temporary Equity | 0 | [1] | 0 | ||||||
Other Comprehensive (Income) Loss, Net of Tax | 0 | 0 | 0 | ||||||
Cash Dividends | 0 | 0 | 0 | ||||||
Stock Based Compensation | 0 | 0 | 0 | ||||||
Stock Compensation Plan Transactions, net | 1 | $ 1 | $ 1 | $ 1 | $ 1 | $ 1 | |||
Stock Compensation Plan Transactions, net (in shares) | 94,725 | 101,487 | 118,981 | ||||||
Balance ending | 170 | 170 | $ 169 | 170 | 170 | $ 170 | $ 169 | ||
Balance ending (in shares) | 16,986,785 | 16,892,060 | |||||||
Additional Paid-In Capital [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | 35,738 | 35,188 | 34,423 | 34,423 | 34,423 | $ 34,423 | $ 32,092 | ||
Net Income (Loss) | 0 | $ 0 | 0 | ||||||
Reclassification to Temporary Equity | 0 | [1] | 0 | ||||||
Other Comprehensive (Income) Loss, Net of Tax | 0 | 0 | 0 | ||||||
Cash Dividends | 0 | 0 | 0 | ||||||
Stock Based Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | 843 | 892 | |
Stock Compensation Plan Transactions, net | 81 | 306 | 520 | 826 | 907 | 1,278 | 1,297 | 1,340 | |
Balance ending | 36,234 | 35,738 | 35,188 | 35,738 | 36,234 | 37,331 | 34,423 | ||
Retained Earnings [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | 373,562 | 369,014 | 364,788 | 364,788 | 364,788 | 364,788 | 322,937 | ||
Net Income (Loss) | 9,605 | 7,260 | 6,938 | 14,198 | 23,803 | 33,412 | 33,396 | 31,576 | |
Reclassification to Temporary Equity | 9,323 | [1] | (9,323) | ||||||
Other Comprehensive (Income) Loss, Net of Tax | 0 | 0 | 0 | ||||||
Cash Dividends | (2,883) | (2,712) | (2,712) | (5,424) | (8,307) | (11,191) | (10,459) | (9,567) | |
Stock Based Compensation | 0 | 0 | 0 | ||||||
Stock Compensation Plan Transactions, net | 0 | 0 | 0 | ||||||
Balance ending | 380,284 | 373,562 | 369,014 | 373,562 | 380,284 | 387,009 | 364,788 | ||
Accumulated Other Comprehensive (Loss) Income [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | (40,765) | (33,743) | (16,214) | (16,214) | (16,214) | (16,214) | (28,181) | ||
Net Income (Loss) | 0 | 0 | 0 | ||||||
Reclassification to Temporary Equity | 0 | [1] | 0 | ||||||
Other Comprehensive (Income) Loss, Net of Tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | 27,928 | (15,961) | |
Cash Dividends | 0 | 0 | 0 | ||||||
Stock Based Compensation | 0 | 0 | 0 | ||||||
Stock Compensation Plan Transactions, net | 0 | 0 | $ 0 | ||||||
Balance ending | (48,203) | (40,765) | (33,743) | (40,765) | (48,203) | (37,229) | (16,214) | ||
Scenario Previously Reported [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | $ 371,675 | $ 372,145 | $ 383,166 | $ 383,166 | $ 383,166 | $ 383,166 | |||
Balance beginning (in shares) | 16,959,280 | 16,947,602 | 16,892,060 | 16,892,060 | 16,892,060 | 16,892,060 | |||
Net Income (Loss) | $ 11,315 | $ 8,713 | $ 8,455 | $ 17,168 | $ 28,483 | $ 40,147 | |||
Other Comprehensive (Income) Loss, Net of Tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | |||
Cash Dividends | (2,883) | (2,712) | (2,712) | (5,424) | (8,307) | (11,191) | |||
Stock Based Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | |||
Stock Compensation Plan Transactions, net | $ 81 | $ 307 | $ 520 | $ 827 | $ 908 | $ 1,279 | |||
Stock Compensation Plan Transactions, net (in shares) | 2,532 | 11,678 | 55,542 | 67,220 | 69,752 | 94,725 | |||
Balance ending | $ 373,165 | $ 371,675 | $ 372,145 | $ 371,675 | $ 373,165 | $ 394,016 | $ 383,166 | ||
Balance ending (in shares) | 16,961,812 | 16,959,280 | 16,947,602 | 16,959,280 | 16,961,812 | 16,986,785 | 16,892,060 | ||
Scenario Previously Reported [Member] | Common Stock [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | $ 170 | $ 169 | $ 169 | $ 169 | $ 169 | $ 169 | |||
Stock Compensation Plan Transactions, net | 0 | 1 | 1 | 1 | 1 | ||||
Balance ending | 170 | 170 | 169 | 170 | 170 | 170 | $ 169 | ||
Scenario Previously Reported [Member] | Additional Paid-In Capital [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | 35,738 | 35,188 | 34,423 | 34,423 | 34,423 | 34,423 | |||
Stock Based Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | |||
Stock Compensation Plan Transactions, net | 81 | 306 | 520 | 826 | 907 | 1,278 | |||
Balance ending | 36,234 | 35,738 | 35,188 | 35,738 | 36,234 | 37,331 | 34,423 | ||
Scenario Previously Reported [Member] | Retained Earnings [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | 376,532 | 370,531 | 364,788 | 364,788 | 364,788 | 364,788 | |||
Net Income (Loss) | 11,315 | 8,713 | 8,455 | 17,168 | 28,483 | 40,147 | |||
Cash Dividends | (2,883) | (2,712) | (2,712) | (5,424) | (8,307) | (11,191) | |||
Balance ending | 384,964 | 376,532 | 370,531 | 376,532 | 384,964 | 393,744 | 364,788 | ||
Scenario Previously Reported [Member] | Accumulated Other Comprehensive (Loss) Income [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | (40,765) | (33,743) | (16,214) | (16,214) | (16,214) | (16,214) | |||
Other Comprehensive (Income) Loss, Net of Tax | (7,438) | (7,022) | (17,529) | (24,551) | (31,989) | (21,015) | |||
Balance ending | (48,203) | (40,765) | (33,743) | (40,765) | (48,203) | (37,229) | $ (16,214) | ||
Restatement Adjustment [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | (2,970) | (1,517) | |||||||
Net Income (Loss) | (1,710) | (1,453) | (1,517) | (2,970) | (4,680) | (6,735) | |||
Stock Based Compensation | 0 | 0 | 0 | 0 | |||||
Balance ending | (4,680) | (2,970) | (1,517) | (2,970) | (4,680) | (6,735) | |||
Restatement Adjustment [Member] | Retained Earnings [Member] | |||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | |||||||||
Balance beginning | (2,970) | (1,517) | |||||||
Net Income (Loss) | (1,710) | (1,453) | (1,517) | (2,970) | (4,680) | (6,735) | |||
Balance ending | $ (4,680) | $ (2,970) | $ (1,517) | $ (2,970) | $ (4,680) | $ (6,735) | |||
[1] (1) Adjustments to redemption value for non-controlling interest in CCHL |
QUARTERLY RESULTS OF OPERATIO_7
QUARTERLY RESULTS OF OPERATIONS - (Schedule of Interim Consolidated Statement of Cash Flows) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Net Income Attributable to Common Shareowners | $ 9,605 | $ 7,260 | $ 6,938 | $ 14,198 | $ 23,803 | $ 33,412 | $ 33,396 | $ 31,576 |
Provision for Credit Losses | 2,154 | 1,692 | 32 | 1,724 | 3,878 | 7,494 | (1,553) | 9,645 |
Depreciation | 1,907 | 3,802 | 5,689 | 7,596 | 7,607 | 7,230 | ||
Amortization of Premiums, Discounts, and Fees, net | 2,610 | 5,053 | 6,618 | 7,772 | 14,072 | 7,533 | ||
Amortization of Intangible Assets | 40 | 80 | 120 | 160 | 107 | 0 | ||
Pension Settlement Charges | 169 | 209 | 378 | 480 | 2,321 | 3,072 | 0 | |
Originations of Loans Held for Sale | (242,253) | (549,018) | (772,089) | (996,312) | (1,541,356) | (606,337) | ||
Proceeds From Sales of Loans Held-for-Sale | 252,584 | 585,476 | 813,267 | 1,033,844 | 1,655,288 | 565,151 | ||
Mortgage Banking Revenues | (4,055) | (8,912) | (11,807) | (11,909) | ||||
Net Decrease for Capitalized Mortgage Servicing Rights | 364 | 360 | 570 | 726 | 72 | (2,792) | ||
Stock Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | 843 | 892 |
Net Tax Benefit from Stock Compensation | (19) | (19) | (19) | (27) | (4) | (84) | ||
Deferred Income Taxes (Benefit) | (6,682) | (9,887) | (12,854) | (3,870) | (4,157) | (53) | ||
Net Change in Operating Leases | (27) | (72) | (83) | (108) | (165) | (156) | ||
Net Gain (Loss) on Sales and Write-Downs of Other Real Estate Owned | 0 | (26) | (136) | (422) | (1,662) | (393) | ||
Net Decrease (Increase) in Other Assets | 1,897 | 3,516 | 3,696 | (8,636) | 10,885 | (38,353) | ||
Net (Decrease) Increase in Other Liabilities | 7,036 | 22,040 | 12,839 | 8,837 | (7,846) | 40,624 | ||
Net Cash Provided By (Used In) Operating Activities | 20,826 | 69,182 | 74,876 | 82,508 | 115,924 | (48,611) | ||
Purchases | (194,448) | (218,548) | (219,865) | (219,865) | (251,525) | (32,250) | ||
Payments, Maturities, and Calls | 14,441 | 28,111 | 40,096 | 55,314 | 78,544 | 99,251 | ||
Purchases | (25,139) | (37,044) | (41,880) | (52,238) | (523,961) | (108,728) | ||
Proceeds from the Sale of Securities | 3,365 | 3,365 | 3,365 | 3,365 | 495 | 0 | ||
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities | 24,824 | 47,413 | 64,301 | 81,596 | 178,425 | 186,499 | ||
Purchases of Loans Held for Investment | (26,713) | (174,779) | (329,481) | (438,415) | (114,913) | (43,804) | ||
Net (Increase) Decrease in Loans | (31,260) | (130,913) | (113,116) | (184,349) | 183,249 | (130,020) | ||
Proceeds From Sales of Other Real Estate Owned | 0 | 30 | 1,683 | 2,406 | 4,502 | 2,835 | ||
Purchases of Premises and Equipment, net | (1,013) | (3,322) | (4,013) | (6,322) | (5,193) | (9,738) | ||
Noncontrolling Interest Contributions | 1,838 | 2,573 | 2,867 | 2,867 | 7,139 | 5,766 | ||
Net Cash Used In Investing Activities | (234,105) | (483,114) | (596,043) | (755,641) | (447,720) | (32,594) | ||
Net Increase in Deposits | 52,645 | 73,396 | 46,516 | 226,455 | 495,302 | 572,106 | ||
Net Increase (Decrease) in Short-Term Borrowings | (3,692) | 4,784 | 17,592 | 22,114 | (45,938) | 73,156 | ||
Repayment of Other Long-Term Borrowings | (78) | (150) | (200) | (249) | (1,332) | (3,363) | ||
Dividends Paid | (2,712) | (5,424) | (8,307) | (11,191) | (10,459) | (9,567) | ||
Issuance of Common Stock Under Compensation Plans | 190 | 496 | 577 | (1,300) | (1,028) | (1,041) | ||
Net Cash (Used In) Provided By in Financing Activities | 46,353 | 73,102 | 56,178 | 238,429 | 438,601 | 631,331 | ||
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (166,926) | (340,830) | (464,989) | (434,704) | 106,805 | 550,126 | ||
Cash at Beginning of Year | 694,524 | 868,428 | 1,035,354 | 1,035,354 | 1,035,354 | 1,035,354 | 928,549 | 378,423 |
Cash at End of Year | 570,365 | 694,524 | 868,428 | 694,524 | 570,365 | 600,650 | 1,035,354 | 928,549 |
Interest Paid | 715 | 1,617 | 3,588 | 6,586 | 3,547 | 4,841 | ||
Income Taxes Paid | 20 | 3,765 | 6,410 | 7,466 | 16,339 | 9,171 | ||
Loans and Premises Transferred to Other Real Estate Owned | 0 | 77 | 1,543 | 2,398 | 1,717 | $ 2,297 | ||
Scenario Previously Reported [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Net Income Attributable to Common Shareowners | 11,315 | 8,713 | 8,455 | 17,168 | 28,483 | 40,147 | ||
Provision for Credit Losses | 2,099 | 1,542 | 0 | 1,542 | 3,641 | 7,162 | ||
Depreciation | 1,907 | 3,802 | 5,689 | 7,596 | ||||
Amortization of Premiums, Discounts, and Fees, net | 2,907 | 5,545 | 7,190 | 8,333 | ||||
Amortization of Intangible Assets | 40 | 80 | 120 | 160 | ||||
Pension Settlement Charges | 169 | 209 | 378 | 480 | 2,321 | |||
Originations of Loans Held for Sale | (246,887) | (573,239) | (799,482) | (1,024,526) | ||||
Proceeds From Sales of Loans Held-for-Sale | 257,550 | 595,074 | 826,837 | 1,053,047 | ||||
Mortgage Banking Revenues | (8,946) | (18,011) | (25,127) | (30,624) | ||||
Net Decrease for Capitalized Mortgage Servicing Rights | 227 | 1,358 | (1,921) | (2,742) | ||||
Stock Compensation | 415 | 244 | 245 | 489 | 904 | 1,630 | ||
Net Tax Benefit from Stock Compensation | (19) | (19) | (19) | (27) | ||||
Deferred Income Taxes (Benefit) | (6,167) | (8,879) | (11,265) | (1,583) | ||||
Net Change in Operating Leases | (27) | (72) | (83) | (108) | ||||
Net Gain (Loss) on Sales and Write-Downs of Other Real Estate Owned | (26) | (136) | (422) | |||||
Net Decrease (Increase) in Other Assets | 1,441 | 845 | 3,696 | (8,636) | ||||
Net (Decrease) Increase in Other Liabilities | 7,036 | 22,040 | 12,839 | 8,837 | ||||
Net Cash Provided By (Used In) Operating Activities | 17,971 | 48,075 | 51,846 | 60,565 | ||||
Purchases | (194,448) | (218,548) | (219,865) | (219,865) | ||||
Payments, Maturities, and Calls | 14,441 | 28,111 | 40,096 | 55,314 | ||||
Purchases | (25,139) | (37,044) | (41,880) | (52,238) | ||||
Proceeds from the Sale of Securities | 3,365 | 3,365 | 3,365 | 3,365 | ||||
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities | 24,824 | 47,413 | 64,301 | 81,596 | ||||
Purchases of Loans Held for Investment | (26,713) | (174,779) | (329,481) | (438,415) | ||||
Net (Increase) Decrease in Loans | (28,405) | (109,806) | (90,086) | (162,406) | ||||
Proceeds From Sales of Other Real Estate Owned | 30 | 1,683 | 2,406 | |||||
Purchases of Premises and Equipment, net | (1,013) | (3,322) | (4,013) | (6,322) | ||||
Noncontrolling Interest Contributions | 1,838 | 2,573 | 2,867 | 2,867 | ||||
Net Cash Used In Investing Activities | (231,250) | (462,007) | (573,013) | (733,698) | ||||
Net Increase in Deposits | 52,645 | 73,396 | 46,516 | 226,455 | ||||
Net Increase (Decrease) in Short-Term Borrowings | (3,692) | 4,784 | 17,592 | 22,114 | ||||
Repayment of Other Long-Term Borrowings | (78) | (150) | (200) | (249) | ||||
Dividends Paid | (2,712) | (5,424) | (8,307) | (11,191) | ||||
Issuance of Common Stock Under Compensation Plans | 190 | 496 | 577 | (1,300) | ||||
Net Cash (Used In) Provided By in Financing Activities | 46,353 | 73,102 | 56,178 | 238,429 | ||||
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (166,926) | (340,830) | (464,989) | (434,704) | ||||
Cash at Beginning of Year | 694,524 | 868,428 | 1,035,354 | 1,035,354 | 1,035,354 | 1,035,354 | ||
Cash at End of Year | 570,365 | 694,524 | 868,428 | 694,524 | 570,365 | 600,650 | 1,035,354 | |
Interest Paid | 715 | 1,617 | 3,588 | 6,586 | ||||
Income Taxes Paid | 20 | 3,765 | 6,410 | 7,466 | ||||
Loans and Premises Transferred to Other Real Estate Owned | 77 | 1,543 | 2,398 | |||||
Restatement Adjustment [Member] | ||||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||||
Net Income Attributable to Common Shareowners | (1,710) | (1,453) | (1,517) | (2,970) | (4,680) | (6,735) | ||
Provision for Credit Losses | 55 | 150 | 32 | 182 | 237 | 332 | ||
Depreciation | 0 | 0 | 0 | 0 | ||||
Amortization of Premiums, Discounts, and Fees, net | (297) | (492) | (572) | (561) | ||||
Amortization of Intangible Assets | 0 | 0 | 0 | 0 | ||||
Pension Settlement Charges | 0 | 0 | 0 | 0 | 0 | |||
Originations of Loans Held for Sale | 4,634 | 24,221 | 27,393 | 28,214 | ||||
Proceeds From Sales of Loans Held-for-Sale | (4,966) | (9,598) | (13,570) | (19,203) | ||||
Mortgage Banking Revenues | 4,891 | 9,099 | 13,320 | 18,715 | ||||
Net Decrease for Capitalized Mortgage Servicing Rights | 137 | (998) | 2,491 | 3,468 | ||||
Stock Compensation | 0 | 0 | 0 | 0 | ||||
Net Tax Benefit from Stock Compensation | 0 | 0 | 0 | 0 | ||||
Deferred Income Taxes (Benefit) | (515) | (1,008) | (1,589) | (2,287) | ||||
Net Change in Operating Leases | 0 | 0 | 0 | 0 | ||||
Net Gain (Loss) on Sales and Write-Downs of Other Real Estate Owned | 0 | 0 | 0 | |||||
Net Decrease (Increase) in Other Assets | 456 | 2,671 | 0 | 0 | ||||
Net (Decrease) Increase in Other Liabilities | 0 | 0 | 0 | 0 | ||||
Net Cash Provided By (Used In) Operating Activities | 2,855 | 21,107 | 23,030 | 21,943 | ||||
Purchases | 0 | 0 | 0 | 0 | ||||
Payments, Maturities, and Calls | 0 | 0 | 0 | 0 | ||||
Purchases | 0 | 0 | 0 | 0 | ||||
Proceeds from the Sale of Securities | 0 | 0 | 0 | 0 | ||||
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities | 0 | 0 | 0 | 0 | ||||
Purchases of Loans Held for Investment | 0 | 0 | 0 | 0 | ||||
Net (Increase) Decrease in Loans | (2,855) | (21,107) | (23,030) | (21,943) | ||||
Proceeds From Sales of Other Real Estate Owned | 0 | 0 | 0 | |||||
Purchases of Premises and Equipment, net | 0 | 0 | 0 | 0 | ||||
Noncontrolling Interest Contributions | 0 | 0 | 0 | 0 | ||||
Net Cash Used In Investing Activities | (2,855) | (21,107) | (23,030) | (21,943) | ||||
Net Increase in Deposits | 0 | 0 | 0 | 0 | ||||
Net Increase (Decrease) in Short-Term Borrowings | 0 | 0 | 0 | 0 | ||||
Repayment of Other Long-Term Borrowings | 0 | 0 | 0 | 0 | ||||
Dividends Paid | 0 | 0 | 0 | 0 | ||||
Issuance of Common Stock Under Compensation Plans | 0 | 0 | 0 | 0 | ||||
Net Cash (Used In) Provided By in Financing Activities | 0 | 0 | 0 | 0 | ||||
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 0 | 0 | 0 | 0 | ||||
Cash at Beginning of Year | 0 | 0 | 0 | 0 | 0 | 0 | ||
Cash at End of Year | $ 0 | $ 0 | 0 | 0 | 0 | 0 | $ 0 | |
Interest Paid | 0 | 0 | 0 | 0 | ||||
Income Taxes Paid | $ 0 | 0 | 0 | 0 | ||||
Loans and Premises Transferred to Other Real Estate Owned | $ 0 | $ 0 | $ 0 |