Exhibit 99.2 CCBG Quarterly Financial Data Supplement for the quarter
ended March 31, 2006.
EARNINGS HIGHLIGHTS
Three Months Ended
---------------------------------
March 31, Dec. 30, March 31,
(Dollars in thousands, except per share data)(1) 2006 2005 2005
- ----------------------------------------------------------------------------------
EARNINGS
Net Income $7,421 7,459 6,377
Diluted Earnings Per Common Share 0.40 0.40 0.36
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PERFORMANCE
Return on Average Equity 9.66% 9.67 9.91
Return on Average Assets 1.16 1.14 1.12
Net Interest Margin 5.25 5.16 4.92
Noninterest Income as % of Operating Revenue 30.93 30.68 31.06
Efficiency Ratio 67.20 65.22 67.06
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CAPITAL ADEQUACY
Tier 1 Capital Ratio 13.00% 12.61 11.52
Total Capital Ratio 13.94 13.56 12.39
Leverage Ratio 10.34 10.27 9.03
Equity to Assets 11.63 11.66 11.07
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ASSET QUALITY
Allowance as % of Non-Performing Loans 330.70% 333.11 302.13
Allowance as a % of Loans 0.84 0.84 0.87
Net Charge-Offs as % of Average Loans 0.16 0.26 0.09
Nonperforming Assets as % of Loans and ORE 0.28 0.27 0.31
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STOCK PERFORMANCE
High $ 37.97 39.33 33.60
Low 33.79 33.21 29.30
Close $ 35.55 34.29 32.41
Average Daily Trading Volume 15,281 15,266 21,025
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(1) All share and per share data have been restated to reflect the 5-for-4 stock
split effective July 1, 2005.
CAPITAL CITY BANK GROUP, INC.
CONSOLIDATED STATEMENT OF INCOME
Unaudited
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2006 2005
--------- --------------------------------------------
First Fourth Third Second First
(Dollars in thousands, except per share data)(1) Quarter Quarter Quarter Quarter Quarter
- ----------------------------------------------------------------------------------------------------------------
INTEREST INCOME
Interest and Fees on Loans $ 37,343 36,990 35,331 32,105 28,842
Investment Securities 1,530 1,437 1,437 1,447 1,473
Funds Sold 539 353 121 358 159
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Total Interest Income 39,412 38,780 36,889 33,910 30,474
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INTEREST EXPENSE
Deposits 7,722 6,727 5,480 4,618 4,309
Short-Term Borrowings 824 979 691 734 450
Subordinated Notes Payable 926 942 931 667 441
Other Long-term Borrowings 810 822 783 769 720
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Total Interest Expense 10,282 9,470 7,885 6,788 5,920
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Net Interest Income 29,130 29,310 29,004 27,122 24,554
Provision for Loan Losses 667 1,333 376 388 410
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Net Interest Income after Provision for Loan Losses 28,463 27,977 28,628 26,734 24,144
================================================================================================================
NONINTEREST INCOME
Service Charges on Deposit Accounts 5,680 5,722 5,635 5,035 4,348
Data Processing 637 693 660 650 607
Asset Management Fees 1,050 1,244 1,050 1,013 1,112
Retail Brokerage Fees 483 404 305 313 299
Gain on Sale of Investment Securities - - 9 - -
Mortgage Banking Revenues 721 956 1,317 1,036 763
Merchant Fees 1,725 1,522 1,556 1,532 1,564
Interchange Fees 675 631 582 535 491
ATM/Debit Card Fees 599 582 550 536 538
Other 1,475 1,220 1,459 1,391 1,338
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Total Noninterest Income 13,045 12,974 13,123 12,041 11,060
================================================================================================================
NONINTEREST EXPENSE
Salaries and Associate Benefits 15,430 13,894 14,046 13,187 12,560
Occupancy, Net 2,223 2,202 2,119 2,035 1,937
Furniture and Equipment 2,500 2,381 2,285 2,192 2,112
Intangible Amortization 1,530 1,518 1,430 1,296 1,196
Other 8,409 9,347 8,729 7,886 7,462
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Total Noninterest Expense 30,092 29,342 28,609 26,596 25,267
================================================================================================================
OPERATING PROFIT 11,416 11,609 13,142 12,179 9,937
Provision for Income Taxes 3,995 4,150 4,565 4,311 3,560
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NET INCOME $ 7,421 7,459 8,577 7,868 6,377
================================================================================================================
PER SHARE DATA
Basic Earnings $ 0.40 0.40 0.46 0.44 0.36
Diluted Earnings 0.40 0.40 0.46 0.44 0.36
Cash Dividends 0.163 0.163 0.152 0.152 0.152
AVERAGE SHARES
Basic 18,652 18,624 18,623 18,094 17,700
Diluted 18,665 18,654 18,649 18,102 17,708
================================================================================================================
(1) All share and per share data have been restated to reflect the 5-for-4 stock split effective July 1, 2005.
CAPITAL CITY BANK GROUP, INC.
CONSOLIDATED STATEMENT OF FINANCIAL CONDITION
Unaudited
================================================================================================================
2006 2005
---------- --------------------------------------------
First Fourth Third Second First
(Dollars in thousands, except per share data)(1) Quarter Quarter Quarter Quarter Quarter
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ASSETS
Cash and Due From Banks $ 104,486 105,195 109,847 117,921 92,868
Funds Sold and Interest Bearing Deposits 110,604 61,164 16,382 59,062 57,115
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Total Cash and Cash Equivalents 215,090 166,359 126,229 176,983 149,983
Investment Securities, Available-for-Sale 180,760 171,019 192,435 195,860 190,945
Loans, Net of Unearned Interest
Commercial 195,412 196,537 197,809 197,098 179,653
Tax-Free 27,898 35,757 32,366 31,122 29,928
Real Estate - Construction 172,317 160,914 151,951 148,367 142,044
Real Estate - Commercial 679,948 704,881 699,293 700,477 635,787
Real Estate - Residential 543,373 531,653 526,167 519,441 437,520
Real Estate - Home Equity 163,189 165,336 162,309 160,767 151,464
Consumer 240,921 242,481 243,081 242,922 223,145
Credit Card - - 1 49 48
Other Loans 26,951 26,346 34,225 43,217 42,046
Overdrafts 4,647 3,589 5,690 3,314 2,168
- ----------------------------------------------------------------------------------------------------------------
Total Loans, Net of Unearned Interest 2,054,656 2,067,494 2,052,892 2,046,774 1,843,803
Allowance for Loan Losses (17,279) (17,410) (17,424) (17,451) (16,040)
- ----------------------------------------------------------------------------------------------------------------
Loans, Net 2,037,377 2,050,084 2,035,468 2,029,323 1,827,763
Premises and Equipment, Net 76,693 73,818 71,044 69,294 60,443
Intangible Assets 108,958 110,451 111,851 113,081 79,139
Other Assets 55,841 53,731 46,475 45,344 40,819
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Total Other Assets 241,492 238,000 229,370 227,719 180,401
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Total Assets $2,674,719 2,625,462 2,583,502 2,629,885 2,349,092
================================================================================================================
LIABILITIES
Deposits:
Noninterest Bearing Deposits $ 562,140 559,492 571,880 598,602 555,758
NOW Accounts 518,024 520,878 481,767 475,687 400,816
Money Market Accounts 369,416 331,094 267,074 287,601 250,433
Regular Savings Accounts 137,780 144,296 155,471 162,665 148,578
Certificates of Deposit 521,796 523,586 549,296 576,074 533,773
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Total Deposits 2,109,156 2,079,346 2,025,488 2,100,629 1,889,358
Short-Term Borrowings 89,105 82,973 92,746 71,148 78,593
Subordinated Notes Payable 62,887 62,887 62,887 62,887 30,928
Other Long-Term Borrowings 68,764 69,630 71,526 73,144 67,879
Other Liabilities 33,744 24,850 29,278 26,655 22,236
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Total Liabilities 2,363,656 2,319,686 2,281,925 2,334,463 2,088,994
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SHAREOWNERS' EQUITY
Common Stock 187 186 186 186 178
Additional Paid-In Capital 84,291 83,304 83,185 82,582 52,736
Retained Earnings 227,920 223,532 219,099 213,352 208,334
Accumulated Other Comprehensive Loss, Net of Tax (1,335) (1,246) (893) (698) (1,150)
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Total Shareowners' Equity 311,063 305,776 301,577 295,422 260,098
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Total Liabilities and Shareowners' Equity $2,674,719 2,625,462 2,583,502 2,629,885 2,349,092
================================================================================================================
OTHER BALANCE SHEET DATA
Earning Assets $2,346,020 2,299,677 2,261,709 2,301,696 2,091,863
Intangible Assets
Goodwill 84,811 84,828 84,710 84,511 54,371
Deposit Base 22,453 23,864 25,275 26,598 22,689
Other 1,694 1,759 1,866 1,972 2,079
Interest Bearing Liabilities 1,767,772 1,735,344 1,680,767 1,709,206 1,511,000
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Book Value Per Diluted Share $ 16.65 16.39 16.17 15.87 14.69
Tangible Book Value Per Diluted Share 10.82 10.47 10.17 9.79 10.22
- ----------------------------------------------------------------------------------------------------------------
Actual Basic Shares Outstanding 18,667 18,632 18,624 18,614 17,703
Actual Diluted Shares Outstanding 18,680 18,662 18,649 18,617 17,705
================================================================================================================
(1) All share and per share data have been restated to reflect the 5-for-4 stock split effective July 1, 2005.
CAPITAL CITY BANK GROUP, INC.
ALLOWANCE FOR LOAN LOSSES
AND NONPERFORMING ASSETS
Unaudited
- ------------------------------------------------------------------------------------------------------------
2006 2005
--------- ---------------------------------------------
First Fourth Third Second First
(Dollars in thousands) Quarter Quarter Quarter Quarter Quarter
- ------------------------------------------------------------------------------------------------------------
ALLOWANCE FOR LOAN LOSSES
Balance at Beginning of Period $17,410 17,424 17,451 16,040 16,037
Acquired Reserves - - - 1,385 -
Provision for Loan Losses 667 1,333 376 388 410
Net Charge-offs 798 1,347 403 362 407
- -----------------------------------------------------------------------------------------------------------
Balance at End of Period $17,279 17,410 17,424 17,451 16,040
===========================================================================================================
As a % of Loans 0.84% 0.84 0.85 0.85 0.87
As a % of Nonperforming Loans 330.70 333.11 342.79 289.12 302.13
As a % of Nonperforming Assets 298.27 313.69 236.07 280.65 284.25
===========================================================================================================
CHARGE-OFFS
Commercial, Financial and Agricultural $ 322 745 151 302 88
Real Estate - Construction - - - - -
Real Estate - Commercial 291 245 4 2 4
Real Estate - Residential 22 145 115 37 25
Consumer 591 575 551 536 718
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Total Charge-offs $ 1,226 1,710 821 877 835
===========================================================================================================
RECOVERIES
Commercial, Financial and Agricultural $ 62 30 43 98 9
Real Estate - Construction - - - - -
Real Estate - Commercial 3 1 1 - -
Real Estate - Residential 7 1 20 14 2
Consumer 356 331 354 403 417
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Total Recoveries $ 428 363 418 515 428
===========================================================================================================
NET CHARGE-OFFS $ 798 1,347 403 362 407
===========================================================================================================
Net charge-offs as a % of Average Loans(1) 0.16% 0.26 0.08 0.08 0.09
===========================================================================================================
RISK ELEMENT ASSETS
Nonaccruing Loans $ 5,225 5,258 5,083 6,036 5,309
Restructured - - - - -
- -----------------------------------------------------------------------------------------------------------
Total Nonperforming Loans 5,225 5,258 5,083 6,036 5,309
Other Real Estate 568 292 2,298 182 334
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Total Nonperforming Assets $ 5,793 5,550 7,381 6,218 5,643
===========================================================================================================
Past Due Loans 90 Days or More $ 367 309 473 562 298
===========================================================================================================
Nonperforming Loans as a % of Loans 0.25% 0.25 0.25 0.29 0.29
Nonperforming Assets as a % of
Loans and Other Real Estate 0.28 0.27 0.36 0.30 0.31
Nonperforming Assets as a % of Capital(2) 1.76 1.72 2.31 1.99 2.04
===========================================================================================================
(1) Annualized
(2) Capital includes allowance for loan losses.
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First Quarter 2006 Fourth Quarter 2005 Third Quarter of 2005
------------------------- -------------------------- -------------------------
Average Average Average Average Average Average
(Dollars in thousands) Balance Interest Rate Balance Interest Rate Balance Interest Rate
- ------------------------------------------------------------------------- ------------------------- ------------------------
ASSETS:
Loans, Net of Unearned Interest $2,048,642 $37,439 7.41% 2,062,775 37,112 7.14 2,046,968 35,433 6.87
Investment Securities
Taxable Investment Securities 118,055 1,091 3.70 128,478 1,025 3.18 137,970 1,022 2.95
Tax-Exempt Investment Securities 59,368 674 4.54 55,481 632 4.55 56,079 638 4.55
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Total Investment Securities 177,423 1,765 3.98 183,959 1,657 3.60 194,049 1,660 3.42
Funds Sold 49,602 539 4.36 32,276 353 4.28 9,885 121 4.79
- ----------------------------------------------------------------------------------------------------------------------------------
Total Earning Assets 2,275,667 $39,743 7.08% 2,279,010 39,122 6.81 2,250,902 37,214 6.56
============== ============ ============
Cash and Due From Banks 109,907 114,650 106,638
Allowance For Loan Losses (17,582) (17,568) (17,570)
Other Assets 236,467 231,505 229,554
- -------------------------------------------------------- --------- ---------
Total Assets $2,604,459 2,607,597 2,569,524
======================================================== ========= =========
LIABILITIES:
Interest Bearing Deposits
NOW Accounts $ 510,270 $ 1,446 1.15% 483,780 1,088 0.89 463,936 773 0.66
Money Market Accounts 343,652 2,298 2.71 307,971 1,820 2.34 272,724 1,062 1.54
Savings Accounts 139,664 62 0.18 149,431 67 0.18 159,080 75 0.19
Time Deposits 521,966 3,916 3.04 539,695 3,752 2.76 563,595 3,570 2.51
- ----------------------------------------------------------------------------------------------------------------------------------
Total Interest Bearing Deposits 1,515,552 7,722 2.07 1,480,877 6,727 1.80 1,459,335 5,480 1.49
Short-Term Borrowings 93,867 824 3.55 113,600 979 3.42 89,483 691 3.07
Subordinated Note Payable 62,887 926 5.97 62,887 942 5.94 62,887 931 5.87
Other Long-Term Borrowings 69,966 810 4.70 71,224 822 4.58 72,408 783 4.29
- ----------------------------------------------------------------------------------------------------------------------------------
Total Interest Bearing Liabilities 1,742,272 $10,282 2.39% 1,728,588 9,470 2.17 1,684,113 7,885 1.86
============== ============ ============
Noninterest Bearing Deposits 524,696 543,140 554,092
Other Liabilities 26,029 29,661 30,388
- -------------------------------------------------------- --------- ---------
Total Liabilities 2,292,997 2,301,389 2,268,593
SHAREOWNERS' EQUITY: $ 311,461 306,208 300,931
- -------------------------------------------------------- --------- ---------
Total Liabilities and Shareowners' Equity $2,604,458 2,607,597 2,569,524
======================================================== ========= =========
Interest Rate Spread $29,461 4.69% 29,652 4.64 29,329 4.70
======================================================================== ============ ============
Interest Income and Rate Earned(2) $39,743 7.08 39,122 6.81 37,214 6.56
Interest Expense and Rate Paid 10,282 1.83 9,470 1.65 7,885 1.39
- ------------------------------------------------------------------------ ------------ ------------
Net Interest Margin $29,461 5.25% 29,652 5.16 29,329 5.17
======================================================================== ============ ============
(1) Interest and average rates are calculated on a tax-equivalent basis using the 35% Federal tax rate.
(2) Rate calculated based on average earning assets.
CAPITAL CITY BANK GROUP, INC.
AVERAGE BALANCE AND INTEREST RATES(1)
Unaudited
- ----------------------------------------------------------------------------------------------------
Second Quarter of 2005 First Quarter 2005
------------------------- -------------------------
Average Average Average Average
(Dollars in thousands) Balance Interest Rate Balance Interest Rate
- ------------------------------------------------------------------------ -------------------------
ASSETS:
Loans, Net of Unearned Interest $1,932,637 $32,200 6.68% 1,827,327 28,920 6.42
Investment Securities
Taxable Investment Securities 149,958 1,113 2.96 153,543 1,090 2.85
Tax-Exempt Investment Securities 41,316 513 4.97 43,928 586 5.33
- ---------------------------------------------------------------------------------------------------
Total Investment Securities 191,274 1,626 3.40 197,471 1,676 3.40
Funds Sold 46,572 358 3.04 22,251 159 2.85
- ---------------------------------------------------------------------------------------------------
Total Earning Assets 2,170,483 $34,184 6.32% 2,047,049 30,755 6.09
============== ============
Cash and Due From Banks 104,336 97,322
Allowance For Loan Losses (16,998) (16,167)
Other Assets 200,967 178,603
- -------------------------------------------------------- ---------
Total Assets $2,458,788 2,306,807
======================================================== =========
LIABILITIES:
Interest Bearing Deposits
NOW Accounts $ 413,799 $ 560 0.54% 359,151 447 0.50
Money Market Accounts 270,195 830 1.23 251,849 625 1.01
Savings Accounts 155,286 75 0.19 147,676 75 0.21
Time Deposits 547,919 3,153 2.31 552,069 3,162 2.32
- ---------------------------------------------------------------------------------------------------
1,387,199 4,618 1.34 1,310,745 4,309 1.33
Short-Term Borrowings 108,508 734 2.71 79,582 450 2.29
Subordinated Note Payable 45,681 667 5.86 30,928 441 5.79
Other Long-Term Borrowings 68,975 769 4.47 68,200 720 4.28
- ---------------------------------------------------------------------------------------------------
Total Interest Bearing Liabilities 1,610,363 $ 6,788 1.69% 1,489,455 5,920 1.61
============== ============
Noninterest Bearing Deposits 544,945 536,633
Other Liabilities 25,373 19,773
- -------------------------------------------------------- ---------
Total Liabilities 2,180,681 2,045,861
SHAREOWNERS' EQUITY: $ 278,107 260,946
- -------------------------------------------------------- ---------
Total Liabilities and Shareowners' Equity $2,458,788 2,306,807
======================================================== =========
Interest Rate Spread $27,396 4.63% 24,835 4.48
======================================================================== ============
Interest Income and Rate Earned(2) $34,184 6.32 30,755 6.09
Interest Expense and Rate Paid 6,788 1.25 5,920 1.17
- ------------------------------------------------------------------------ ------------
Net Interest Margin $27,396 5.07% 24,835 4.92
======================================================================== ============
(1) Interest and average rates are calculated on a tax-equivalent basis using the 35% Federal tax rate.
(2) Rate calculated based on average earning assets.