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Form 8-K

sec.gov

8-K — CAPITAL CITY BANK GROUP INC

Accession: 0000726601-26-000009

Filed: 2026-04-20

Period: 2026-04-20

CIK: 0000726601

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ccbg-20260420.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (ex991.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K — FORM 8-K

8-K (Primary)

Filename: ccbg-20260420.htm · Sequence: 1

ccbg-20260420

FALSE

0000726601

0000726601

2026-04-20

2026-04-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON,

DC 20549

FORM

8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

April 20, 2026

CAPITAL CITY BANK GROUP, INC.

(Exact name of registrant as specified in its charter)

Florida

0-13358

59-2273542

(State of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

217 North Monroe Street,

Tallahassee

,

Florida

32301

(Address of principal executive offices)

(Zip Code)

Registrant's telephone number, including

area code: (

850

)

402-7821

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended

to simultaneously satisfy the filing obligation of the registrant

under any of the following provisions (see General Instruction

A.2. below):

Written communications pursuant to Rule

425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a

-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange

Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the

Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, Par value $0.01

CCBG

Nasdaq Stock Market

, LLC

Indicate by check mark whether the registrant is an emerging

growth company as defined in Rule 405 of the Securities Act of 1933

(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act

of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company,

indicate by check mark if the registrant has elected not to use the extended transition

period for

complying with any new or revised financial accounting standards pursuant

to Section 13(a) of The Exchange Act.

CAPITAL CITY BANK

GROUP,

INC.

FORM 8-

K

CURRENT REPORT

Item 2.02.

Results of Operations and Financial Condition.

On April 20, 2026, Capital City Bank Group, Inc. (“CCBG”) issued an earnings press release

reporting CCBG’s financial

results for the three month period ended March 31, 2026.

A copy of the press release is attached as Exhibit 99.1 hereto and

incorporated herein by reference.

The information furnished under Item 2.02 of this Current Report, including

the Exhibits attached hereto, shall not be deemed

“filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor

shall it be deemed incorporated by reference in any

filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference

in such filing.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits

.

Item No.

Description of Exhibit

99.1

Press release, dated April 20, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

Exhibit 99.1 referenced herein, contains “forward-looking statements” within

the meaning, and protections, of Section 27A

of the Securities Act of 1933, as amended, and Section 21E of the Securities

Exchange Act of 1934, as amended, including,

without limitation, statements about future financial and operating results,

economic and seasonal conditions in CCBG’s

markets, and improvements to reported earnings that may or may not be

realized, as well as statements with respect to

CCBG’s objectives, strategic

plans, expectations and intentions and other statements that are not historical

facts. Actual

results may differ from those set forth in the forward-looking statements.

Forward-looking statements include statements with respect to CCBG’s

beliefs, plans, objectives, goals, expectations,

anticipations, assumptions, estimates and intentions about future performance

and involve known and unknown risks,

uncertainties and other factors, which may be beyond CCBG’s

control, and which may cause the actual results, performance

or achievements of CCBG or its wholly-owned banking subsidiary,

Capital City Bank, to be materially different from future

results, performance or achievements expressed or implied by such forward-looking

statements. You

should not expect

CCBG to update any forward-looking statements.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has

duly caused this report to be signed

on its behalf by the undersigned hereunto duly authorized.

CAPITAL CITY BANK

GROUP,

INC.

Date:

April 20, 2026

By:

/s/ Jeptha E. Larkin

Jeptha E. Larkin,

Executive Vice President

and Chief Financial Officer

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: ex991.htm · Sequence: 2

ex991

Capital City Bank Group, Inc.

Reports First Quarter 2026

Results

TALLAHASSEE, Fla.

(April 20, 2026) – Capital City Bank Group, Inc. (NASDAQ: CCBG) today

reported net income attributable

to common shareowners of $15.8 million, or $0.92 per diluted share, for the first quarter

of 2026

compared to $13.7 million, or $0.80

per diluted share, for the fourth quarter of 2025, and $16.9 million, or $0.

99 per diluted share, for the first quarter of 2025.

Return on Assets of 1.45% and Return on Equity of 11.30%

for the first quarter of 2026 compared to 1.25% and 9.78%, respectively

for the fourth quarter of 2025, and 1.58% and 13.32%,

respectively for the first quarter of 2025.

QUARTER HIGHLIGHTS (1

st

Quarter 2026

versus 4

th

Quarter 2025)

Income Statement

Tax-equivalent

net interest income totaled $42.9 million compared

to $43.4 million for the prior quarter and reflected

two

less calendar days in the first quarter

-

Net interest margin decreased

two basis points to 4.24%

Credit quality metrics remained

stable, with net loan charge‑offs of 10 basis points (annualized)

of average loans, while the

allowance coverage ratio increased one basis

point to 1.23% as of March 31, 2026

Noninterest income decreased

$0.2 million, or 0.8%, and reflected lower wealth management

fees of $0.5

million and deposit

fees of $0.2 million, partially offset by a miscellaneous recovery

of $0.5 million

Noninterest expense decreased

$1.5 million, or 3.5%, primarily due to a $2.7 million decrease

in compensation expense

(lower performance-based incentives) that was partially offset by an

increase in other expense which reflected

a $1.5

million

pension plan settlement gain recognized in

the prior quarter

Balance Sheet

Loan balances decreased $29.8 million,

or 1.2% (average), and decreased $27.7 million, or 1.1%

(end of period)

Deposit balances increased by $43.5 million,

or 1.2% (average), and increased $89.3 million,

or 2.4% (end of period), driven

by strong core deposit

growth

Tangible

book value per diluted share (non-GAAP financial measure)

increased $0.48, or 1.8%

Repurchased 63,088 shares

of our common stock

“We are off

to a strong start to the year, with earnings growth of 15% over

the prior quarter driven by solid deposit trends,

disciplined credit performance, and continued expense control,” said William

G. Smith, Jr., Chairman and CEO.

“We remain

focused on deepening client relationships and executing consistently,

while maintaining the balance sheet strength and flexibility

to perform across a range of economic conditions.”

Discussion of Operating Results

Net Interest Income/Net Interest

Margin

Tax-equivalent net

interest income for the first quarter of 2026

totaled $42.9 million, compared to $43.4 million for the fourth

quarter of 2025, and $41.6 million for the first quarter of 2025. Compared to

the fourth quarter of 2025, the decrease was primarily

driven by lower loan interest income due to lower average loan balances and

lower overnight funds income, partially offset by higher

investment securities income due to new investment purchases at higher

yields and lower deposit interest expense.

Two less calendar

days contributed to the decline compared to the fourth quarter of 2025.

Compared to the first quarter of 2025, the increase was

primarily attributable to higher investment securities income due

to new investment purchases at higher yields and higher overnight

funds income due to higher average balances that outpaced a decrease in loan interest

income due to lower average balances.

Our net interest margin for the first quarter of 2026 was 4.24%, a decrease

of two basis points from the fourth quarter of 2025

and an

increase of two basis points over the first quarter of 2025. Compared to

the fourth quarter of 2025 the decrease was primarily

attributable to a lower overnight funds rate and lower average loan balances.

Compared to the first quarter of 2025, the increase

reflected favorable investment securities repricing partially offset

by a lower overnight funds rate and lower average loan balances.

For the first quarter of 2026, our cost of funds was 81 basis points, a decrease of one basis point

from the fourth quarter of 2025 and

a decrease of three basis points from the first quarter of 2025. Our cost of deposits (including

noninterest bearing accounts) was 81

basis points, 82 basis points, and 82 basis points, respectively,

for the same periods.

2

Provision for Credit Losses

We recorded

a provision expense for credit losses of $0.7 million for the first quarter of 2026, compared

to $2.0 million for the

fourth quarter of 2025 and $0.8 million for the first quarter of 2025. Activity

within the components of the provision (loans held for

investment (“HFI”) and unfunded loan commitments) for each reported

period is provided in the table on page 14. We

discuss the

various factors that impacted our provision expense for Loans HFI in further

detail below under the heading

Allowance for Credit

Losses

.

Noninterest Income and Noninterest

Expense

Noninterest income for the first quarter of 2026 totaled $19.9 million,

a $0.2 million, or 0.8%, decrease from the fourth quarter of

2025 and similar to the first quarter of 2025. The decrease from the fourth

quarter of 2025 reflected a $0.5 million decrease in

wealth management fees and a $0.2 million decrease in deposit fees, partially

offset by a $0.5 million increase in other income. The

decline in wealth management fees was primarily due to a decrease in retail

brokerage fees. The increase in other income was due to

a $0.5 million miscellaneous recovery.

Compared to the first quarter of 2025, a $1.7 million decrease in wealth

management fees

was offset by a $0.7 million increase in other income, a $0.5

million increase in deposit related fees, and a $0.4 million increase in

mortgage banking revenues. The decline in wealth management

fees was attributable to a decrease in retail brokerage assets under

management and lower insurance commission revenue due to the sale of our

insurance subsidiary in 2025. The increase in other

income reflected the aforementioned miscellaneous recovery of

$0.5 million.

Noninterest expense for the first quarter of 2026

totaled $41.4 million, a $1.5 million, or 3.5%, decrease from the fourth quarter of

2025

and a $2.7 million, or 6.9%, increase over the first quarter of 2025. The decrease

from the fourth quarter of 2025 reflected a

$2.7 million decrease in compensation expense, partially offset by

a $1.2 million increase in other expense. The decrease in

compensation expense was primarily due to higher performance-based

incentive pay of $2.6 million in the fourth quarter of 2025.

The increase in other expense reflected a $1.5 million pension plan settlement

gain recorded in the fourth quarter of 2025.

Compared to the first quarter of 2025, the increase reflected a $2.9 million

increase in other expense and a $0.3 million increase in

occupancy expense, which was partially offset by a $0.5 million decrease

in compensation expense. The increase in other expense

was primarily attributable to a $4.1

million increase in other real estate expense that reflected a gain from

the sale of our operations

center building in the first quarter of 2025, partially offset

by decreases

in charitable contributions, professional fees, and other

miscellaneous expenses.

The increase in occupancy expense was primarily attributable to higher

expense for maintenance

agreements and software. The decrease in compensation expense reflected

a decrease in commission expense related to the sale of

our insurance subsidiary.

Income Taxes

We realized income

tax expense of $4.8 million (effective rate of 23.5%) for the

first quarter of 2026, compared to $4.9 million

(effective rate of 26.3%) for the fourth quarter of 2025

and $5.1 million (effective rate of 23.3%) for the first quarter of 2025.

Compared to the fourth quarter of 2025, the variance in the effective

tax rate reflected discrete items for both quarters, including a

benefit in the first quarter of 2026 related to stock-based compensation

and an expense in the fourth quarter of 2025 related to an

Internal Revenue Code (“IRC”) Section 162(m) limitation for executive

compensation. Absent discrete items or new tax credit

investments,

we expect our annual effective tax rate to approximate 24% for

2026.

3

Discussion of Financial Condition

Earning Assets

Average earning

assets totaled $4.090 billion for the first quarter of 2026, an increase of $53.9 million,

or 1.3% over the fourth

quarter of 2025, and an increase of $95.9 million, or 2.4% over the first

quarter of 2025. Compared to the fourth quarter of 2025, the

change in earning asset mix reflected a $113.1 million

increase in investment securities and a $0.5 million increase in loans held for

sale (“HFS”), partially offset by a $29.9 million decrease in overnight

funds sold and a $29.8 million decrease in loans held for

investment. Compared to the first quarter of 2025, the increase was primarily attributable

to a $136.8 million increase in investment

securities and an $86.7 million increase in overnight funds sold, partially

offset by a $127.6 million decrease in loans held for

investment.

Average loans

HFI decreased by $29.8 million, or 1.16% from the fourth quarter of 2025, and

decreased by $127.6 million, or 4.8%

from the first quarter of 2025. Compared to the fourth quarter of 2025, the

decline was primarily attributable to decreases in

residential real estate loans of $16.3 million, commercial real estate loans of $10.2

million, construction loans of $4.2 million,

consumer loans (primarily indirect auto) of $2.3 million, and commercial

loans of $1.5 million, partially offset by an increase in

home equity loans of $4.0 million. Compared to the first quarter of 2025, the decline

was primarily attributable to declines in

construction loans of $56.8 million, commercial real estate loans of

$32.6 million, consumer loans (primarily indirect auto) of $23.4

million, residential real estate loans of $21.8 million, and commercial

loans of $11.3 million, partially offset

by an increase in home

equity loans of $19.1 million.

Loans HFI at March 31, 2026, decreased by $27.7 million, or 1.1%, from

December 31, 2025, and decreased by $142.4 million, or

5.4%, from March 31, 2025. Compared to December 31, 2025,

the decline was primarily due to decreases in residential real estate

loans of $22.2 million, commercial real estate loans of $12.9 million, commercial

loans of $10.1 million, other loans of $7.6 million

and consumer loans (primarily indirect auto) of $2.8 million, partially

offset by increases in construction loans of $9.7 million and

home equity loans of $3.0 million. Compared to the first quarter of 2025, the decrease

was primarily attributable to declines in

commercial real estate loans of $51.1 million, residential real estate loans of $41.9

million, construction loans of $35.7 million,

consumer loans (primarily indirect auto) of $26.7 million, and commercial

loans of $14.1 million, partially offset by an increase in

home equity loans of $17.9 million.

Allowance for Credit Losses

At March 31, 2026, the allowance for credit losses for loans HFI totaled $31.0

million comparable to $31.0 million and $29.7

million at December 31, 2025 and March 31, 2025, respectively.

Activity within the allowance is provided on Page 10. The slight

increase in the allowance over March 31, 2025 was primarily attributable

to utilization of a higher forecasted unemployment rate in

calculating loan loss rates.

Net loan charge-offs were 10 basis points of average loans

for the first quarter of 2026

versus 18 basis

points for the fourth quarter of 2025

and 9 basis points for the first quarter of 2025. At March 31, 2026, the allowance

represented

1.23% of loans HFI compared to 1.22% at December 31, 2025, and 1.12%

at March 31, 2025.

Credit Quality

Nonperforming assets (nonaccrual loans and other real estate) totaled $13.0

million at March 31, 2026

compared to $10.5 million at

December 31, 2025 and $4.4 million at March 31, 2025. At March 31, 2026,

nonperforming assets as a percentage of total assets

was 0.29%, compared to 0.24% at December 31, 2025 and 0.10% at March 31, 2025.

Nonaccrual loans totaled $11.1 million at

March 31, 2026, a $2.5

million increase over December 31, 2025

and a $6.8 million increase over March 31, 2025. The increase

over December 31, 2025 was primarily attributable to the addition of four

residential 1-4 family real estate loans totaling $1.9

million. Other real estate totaled $1.8 million at March 31, 2026 and reflected

the addition of a banking office property for $1.2

million during the first quarter of 2026. Further,

classified loans totaled $14.5 million at March 31, 2026, a $0.2

million increase

over December 31, 2025 and a $4.6 million decrease from March

31, 2025.

Deposits

Average total

deposits were $3.691 billion for the first quarter of 2026, an increase of $43.5 million,

or 1.2%, over the fourth quarter

of 2025 and an increase of $25.5 million, or 0.7%, over the first quarter

of 2025. Compared to the fourth quarter of 2025, the

increase was primarily attributable to higher public funds balances of

$99 million, driven by seasonal inflows from municipal clients

as they receive their tax receipts beginning in late November,

partially offset by declines in core deposits of $64 million (noninterest

bearing and interest bearing DDAs). The increase over the first quarter

of 2025 was due to growth in both core deposit balances, and

public funds.

4

At March 31, 2026, total deposits were $3.752 billion, an increase of $89.3 million,

or 2.4%, over December 31, 2025, and a

decrease of $32.3 million, or 0.9%, from March 31, 2025.

The increase over December 31, 2025,

was driven by higher core deposit

balances of $103 million (primarily noninterest bearing and NOW accounts),

partially offset by a decrease in public funds balances

of $25 million (primarily NOW accounts). The decrease from March

31, 2025, was primarily due to lower public funds balances

(noninterest bearing accounts). Total

public funds balances were $629.9 million at March 31, 2026, $654.7 million

at December 31,

2025, and $648.0 million at March 31, 2025.

Liquidity

The Bank maintained an average net overnight funds (i.e., deposits with banks plus

FED funds sold, less FED funds purchased) sold

position of $407.7 million in the first quarter of 2026

compared to $437.5 million in the fourth quarter of 2025 and $320.9 million in

the first quarter of 2025. Compared to both prior periods, the variance

reflected higher average deposits and lower average loans and

the deployment of excess liquidity into the investment security portfolio.

We also view our

investment portfolio as a liquidity source as we have the option to pledge securities in our

portfolio as collateral

for borrowings or deposits, and/or to sell selected securities in our portfolio.

Our portfolio consists of debt issued by the U.S.

Treasury,

U.S. governmental agencies, municipal governments, and corporate entities.

At March 31, 2026, the weighted-average

maturity and duration of our portfolio were 2.98 years and 2.64 years,

respectively, and the available

-for-sale portfolio had a net

unrealized after-tax loss of $11.7

million.

At March 31, 2026, we had the ability to generate approximately $1.651 billion

(excludes overnight funds position of $425 million)

in additional liquidity through various sources including various federal funds

purchased lines, Federal Home Loan Bank

borrowings, the Federal Reserve Discount Window,

and brokered deposits.

Capital

Shareowners’ equity was $559.9 million at March 31, 2026 compared to

$552.9 million at December 31, 2025 and $512.6 million at

March 31, 2025. For the first three months of 2026, shareowners’ equity

was positively impacted by net income attributable to

shareowners of $15.8 million, the issuance of stock of $2.8 million, and

stock compensation accretion of $0.5

million. Shareowners’

equity was reduced by a common stock dividend of $4.6 million ($0.27

per share),

repurchases of our common stock of $2.6

million

(63,088 shares), net adjustments totaling $2.6 million related to

transactions under our stock-based compensation plans,

and a net

$2.3 million decrease in the accumulated other comprehensive gain.

The net unfavorable change in accumulated other

comprehensive gain was primarily due to a $2.2 million increase in the investment

securities loss.

At March 31, 2026, our total risk-based capital ratio was 21.62%, compared

to 21.45% at December 31, 2025 and 19.20% at March

31, 2025. Our common equity tier 1 capital ratio was 19.08%, 18.56%,

and 16.08%, respectively, on

these dates. Our leverage ratio

was 11.65%, 11.77%,

and 11.17%, respectively,

on these dates. At March 31, 2026, all our regulatory capital ratios

exceeded the

thresholds to be designated as “well-capitalized” under the Basel III

capital standards. Further, our tangible common

equity ratio

(non-GAAP financial measure) was 10.79%

at March 31, 2026

and December 31, 2025, compared to 9.61% at March 31, 2025. If

our unrealized held-to-maturity securities loss of $7.2 million (after

-tax) were recognized in accumulated other comprehensive loss,

our adjusted tangible capital ratio would be 10.62%.

5

About Capital City Bank Group, Inc.

Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest

publicly traded financial holding companies headquartered

in Florida and has approximately $4.5

billion in assets.

We provide

a full range of banking services, including traditional deposit

and credit services, mortgage banking, asset management, trust, merchant

services, bankcards,

and securities brokerage services.

Our bank subsidiary,

Capital City Bank, was founded in 1895 and has 62 banking offices and 107

ATM

s/ITMs in Florida, Georgia

and Alabama.

For more information about Capital City Bank Group, Inc., visit

https://www.ccbg.com/

.

FORWARD

-LOOKING STATEMENTS

Forward-looking statements in this Press Release are based on current plans

and expectations that are subject to uncertainties and

risks, which could cause our future results to differ materially.

The words “may,” “could,” “should,”

“would,” “believe,”

“anticipate,” “estimate,” “expect,” “intend,” “plan,” “target,” “vision,”

“goal,” and similar expressions are intended to identify

forward-looking statements.

The following factors, among others, could cause our actual results to differ:

the effects of and changes

in trade and monetary and fiscal policies and laws, including the interest rate policies of

the Federal Reserve Board; inflation,

interest rate, market and monetary fluctuations; local, regional, national, and international

economic conditions and the impact they

may have on us and our clients and our assessment of that impact; supply

-demand imbalances and general economic conditions

affecting local real estate prices and a general deterioration

in commercial real estate market fundamentals;

the costs and effects of

legal and regulatory developments, the outcomes of legal proceedings or

regulatory or other governmental inquiries, the results of

regulatory examinations or reviews and the ability to obtain required

regulatory approvals; the effect of changes in laws and

regulations (including laws and regulations concerning taxes, banking,

securities, and insurance) and their application with which we

and our subsidiaries must comply; the effect of changes in

accounting policies and practices, as may be adopted by the regulatory

agencies, as well as other accounting standard setters; the accuracy of our

financial statement estimates and assumptions; changes in

the financial performance and/or condition of our borrowers; changes in the mix

of loan geographies, sectors and types or the level

of non-performing assets and charge-offs; changes

in estimates of future credit loss reserve requirements based upon the periodic

review thereof under relevant regulatory and accounting requirements; changes

in our liquidity position; the timely development and

acceptance of new products and services and perceived overall value

of these products and services by users; changes in consumer

spending, borrowing, and saving habits; greater than expected costs or difficulties

related to the integration of new products and lines

of business; technological changes, including the impact of generative

artificial intelligence; the costs and effects of cyber incidents

or other failures, interruptions, or security breaches of our systems or those of

our customers or third-party providers; dispositions

(including the impact from the sale of our insurance subsidiary); acquisitions and

integration of acquired businesses; impairment of

our goodwill or other intangible assets; changes in the reliability of our vendors,

internal control systems, or information systems;

our ability to increase market share and control expenses; our ability to attract and

retain qualified employees; changes in our

organization, compensation, and benefit plans; the soundness of

other financial institutions; volatility and disruption in national and

international financial and commodity markets; changes in the competitive

environment in our markets and among banking

organizations and other financial service providers; action or inaction

by the federal government, including tariffs or trade wars

(including potential resulting reduced consumer spending, lower economic

growth or recession, reduced demand for U.S. exports,

disruptions to supply chains, and decreased demand for other banking

products and services), government intervention in the U.S.

financial system; policies related to credit card interest rates, and legislative,

regulatory or supervisory actions related to so-called

“de-banking,” including any new prohibitions, requirements or enforcement

priorities that could affect customer relationships,

compliance obligations, or operational practices; the effects

of natural disasters (including hurricanes), widespread health

emergencies (including pandemics), military conflict

(including impacts related to the conflict in the Middle East and resulting

disruptions to energy and other commodities markets and

supply chains), terrorism, civil unrest, climate change or other geopolitical

events; our ability to declare and pay dividends; structural changes in the markets

for origination, sale and servicing of residential

mortgages; any inability to implement and maintain effective internal

control over financial reporting and/or disclosure control;

negative publicity and the impact on our reputation; and the limited trading

activity and concentration of ownership of our common

stock.

Additional factors can be found in our Annual Report on Form 10-K for

the fiscal year ended December 31, 2025 and our

other filings with the SEC, which are available at the SEC’s

internet site (

https://www.sec.gov

).

Forward-looking statements in this

Press Release speak only as of the date of the Press Release, and we assume no obligation

to update forward-looking statements or

the reasons why actual results could differ,

except as may be required by law.

6

USE OF NON-GAAP FINANCIAL MEASURES

Unaudited

We

present a tangible common equity ratio and a tangible book value per diluted

share that removes the effect of goodwill and other

intangibles resulting from merger and acquisition activity.

We

believe these measures are useful to investors because they allow

investors to more easily compare our capital adequacy to other companies in the

industry. Non-GAAP financial

measures should not

be considered alternatives to GAAP-basis financial statements and

other bank holding companies may define or calculate these non-

GAAP measures or similar measures differently.

The GAAP to non-GAAP reconciliations are provided below.

(Dollars in Thousands, except per share data)

Mar 31, 2026

Dec 31, 2025

Sep 30, 2025

Jun 30, 2025

Mar 31, 2025

Shareowners' Equity (GAAP)

$

559,912

$

552,851

$

540,635

$

526,423

$

512,575

Less: Goodwill and Other Intangibles (GAAP)

89,095

89,095

89,095

92,693

92,733

Tangible Shareowners' Equity (non-GAAP)

A

470,817

463,756

451,540

433,730

419,842

Total Assets (GAAP)

4,453,734

4,385,765

4,323,774

4,391,753

4,461,233

Less: Goodwill and Other Intangibles (GAAP)

89,095

89,095

89,095

92,693

92,733

Tangible Assets (non-GAAP)

B

$

4,364,639

$

4,296,670

$

4,234,679

$

4,299,060

$

4,368,500

Tangible Common Equity Ratio (non-GAAP)

A/B

10.79%

10.79%

10.66%

10.09%

9.61%

Actual Diluted Shares Outstanding (GAAP)

C

17,114,954

17,154,586

17,115,336

17,097,986

17,072,330

Tangible Book Value

per Diluted Share (non-GAAP)

A/C

$

27.51

$

27.03

$

26.38

$

25.37

$

24.59

7

CAPITAL CITY BANK

GROUP,

INC.

EARNINGS HIGHLIGHTS

Unaudited

Three Months Ended

(Dollars in thousands, except per share data)

Mar 31, 2026

Dec 31, 2025

Mar 31, 2025

EARNINGS

Net Income Attributable to Common Shareowners

$

15,817

$

13,705

$

16,858

Diluted Net Income Per Share

$

0.92

$

0.80

$

0.99

PERFORMANCE

Return on Average Assets (annualized)

1.45

%

1.25

%

1.58

%

Return on Average Equity (annualized)

11.30

9.78

13.32

Net Interest Margin

4.24

4.26

4.22

Noninterest Income as % of Operating Revenue

31.77

31.68

32.39

Efficiency Ratio

65.89

%

67.50

%

62.93

%

CAPITAL ADEQUACY

Tier 1 Capital

20.37

%

20.20

%

18.01

%

Total Capital

21.62

21.45

19.20

Leverage

11.65

11.77

11.17

Common Equity Tier 1

19.08

18.56

16.08

Tangible Common Equity

(1)

10.79

10.79

9.61

Equity to Assets

12.57

%

12.61

%

11.49

%

ASSET QUALITY

Allowance as % of Non-Performing Loans

278.19

%

360.69

%

692.10

%

Allowance as a % of Loans HFI

1.23

1.22

1.12

Net Charge-Offs as % of Average Loans HFI

0.10

0.18

0.09

Nonperforming Assets as % of Loans HFI and OREO

0.51

0.41

0.17

Nonperforming Assets as % of Total Assets

0.29

%

0.24

%

0.10

%

STOCK PERFORMANCE

High

$

46.83

$

45.63

$

38.27

Low

39.26

38.27

33.00

Close

$

43.46

$

42.57

$

35.96

Average Daily Trading Volume

100,149

54,533

24,486

(1)

Tangible common equity ratio is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP,

refer to Page 9.

8

CAPITAL CITY BANK GROUP, INC.

CONSOLIDATED STATEMENT

OF FINANCIAL CONDITION

Unaudited

2026

2025

(Dollars in thousands)

First Quarter

Fourth Quarter

Third Quarter

Second Quarter

First Quarter

ASSETS

Cash and Due From Banks

$

64,214

$

62,189

$

68,397

$

78,485

$

78,521

Funds Sold and Interest Bearing Deposits

424,756

467,782

397,502

394,917

446,042

Total Cash and Cash Equivalents

488,970

529,971

465,899

473,402

524,563

Investment Securities Available for Sale

800,550

643,922

577,333

533,457

461,224

Investment Securities Held to Maturity

353,296

377,446

404,659

462,599

517,176

Other Equity Securities

2,083

2,069

2,145

3,242

2,315

Total Investment Securities

1,155,929

1,023,437

984,137

999,298

980,715

Loans Held for Sale ("HFS"):

25,088

21,695

24,204

19,181

21,441

Loans Held for Investment ("HFI"):

Commercial, Financial, & Agricultural

170,268

180,341

179,018

180,008

184,393

Real Estate - Construction

156,630

146,920

156,756

174,115

192,282

Real Estate - Commercial

755,800

768,731

785,290

802,504

806,942

Real Estate - Residential

998,720

1,020,942

1,037,324

1,046,368

1,040,594

Real Estate - Home Equity

243,932

240,897

234,111

228,201

225,987

Consumer

179,515

182,327

185,847

197,483

206,191

Other Loans

12,347

4,748

2,283

1,552

3,227

Overdrafts

1,192

1,212

1,378

1,259

1,154

Total Loans Held for Investment

2,518,404

2,546,118

2,582,007

2,631,490

2,660,770

Allowance for Credit Losses

(30,999)

(31,001)

(30,202)

(29,862)

(29,734)

Loans Held for Investment, Net

2,487,405

2,515,117

2,551,805

2,601,628

2,631,036

Premises and Equipment, Net

77,670

79,457

79,748

79,906

80,043

Goodwill and Other Intangibles

89,095

89,095

89,095

92,693

92,733

Other Real Estate Owned

1,822

1,936

1,831

132

132

Other Assets

127,755

125,057

127,055

125,513

130,570

Total Other Assets

296,342

295,545

297,729

298,244

303,478

Total Assets

$

4,453,734

$

4,385,765

$

4,323,774

$

4,391,753

$

4,461,233

LIABILITIES

Deposits:

Noninterest Bearing Deposits

$

1,299,933

$

1,251,886

$

1,303,786

$

1,332,080

$

1,363,739

NOW Accounts

1,309,527

1,322,114

1,222,861

1,284,137

1,292,654

Money Market Accounts

432,874

390,888

405,846

408,666

445,999

Savings Accounts

516,149

503,485

500,323

504,331

511,265

Certificates of Deposit

193,134

193,939

182,096

175,639

170,233

Total Deposits

3,751,617

3,662,312

3,614,912

3,704,853

3,783,890

Repurchase Agreements

4,561

22,018

25,629

21,800

22,799

Other Short-Term Borrowings

28,715

28,074

14,615

12,741

14,401

Subordinated Notes Payable

33,303

42,582

42,582

42,582

52,887

Other Long-Term Borrowings

680

680

680

680

794

Other Liabilities

74,946

77,248

84,721

82,674

73,887

Total Liabilities

3,893,822

3,832,914

3,783,139

3,865,330

3,948,658

SHAREOWNERS' EQUITY

Common Stock

171

171

171

171

171

Additional Paid-In Capital

39,854

41,650

40,067

39,527

38,576

Retained Earnings

519,632

508,443

499,176

487,665

476,715

Accumulated Other Comprehensive Income (Loss), Net

of Tax

255

2,587

1,221

(940)

(2,887)

Total Shareowners' Equity

559,912

552,851

540,635

526,423

512,575

Total Liabilities, Temporary Equity and Shareowners' Equity

$

4,453,734

$

4,385,765

$

4,323,774

$

4,391,753

$

4,461,233

OTHER BALANCE SHEET DATA

Earning Assets

$

4,124,177

$

4,059,032

$

3,987,850

$

4,044,886

$

4,108,968

Interest Bearing Liabilities

2,518,943

2,503,780

2,394,632

2,450,576

2,511,032

Book Value Per Diluted Share

$

32.71

$

32.23

$

31.59

$

30.79

$

30.02

Tangible Book Value

Per Diluted Share

(1)

27.51

27.03

26.38

25.37

24.59

Actual Basic Shares Outstanding

17,098

17,084

17,069

17,066

17,055

Actual Diluted Shares Outstanding

17,115

17,155

17,115

17,098

17,072

(1)

Tangible book value per diluted share is a non-GAAP financial measure. For additional

information, including a reconciliation to GAAP, refer to Page 9.

9

CAPITAL CITY BANK

GROUP,

INC.

CONSOLIDATED STATEMENT

OF OPERATIONS

Unaudited

2026

2025

(Dollars in thousands, except per share data)

First

Quarter

Fourth

Quarter

Third

Quarter

Second

Quarter

First

Quarter

INTEREST INCOME

Loans, including Fees

$

38,254

$

39,565

$

40,279

$

40,872

$

40,478

Investment Securities

9,055

7,768

7,188

6,678

5,808

Federal Funds Sold and Interest Bearing Deposits

3,711

4,382

3,964

3,909

3,496

Total Interest Income

51,020

51,715

51,431

51,459

49,782

INTEREST EXPENSE

Deposits

7,395

7,544

7,265

7,405

7,383

Repurchase Agreements

73

134

158

156

164

Other Short-Term Borrowings

327

217

58

179

117

Subordinated Notes Payable

398

451

383

530

560

Other Long-Term Borrowings

10

9

10

5

11

Total Interest Expense

8,203

8,355

7,874

8,275

8,235

Net Interest Income

42,817

43,360

43,557

43,184

41,547

Provision for Credit Losses

712

1,995

1,881

620

768

Net Interest Income after Provision for Credit Losses

42,105

41,365

41,676

42,564

40,779

NONINTEREST INCOME

Deposit Fees

5,598

5,811

5,877

5,320

5,061

Bank Card Fees

3,630

3,684

3,733

3,774

3,514

Wealth Management Fees

4,051

4,525

5,173

5,206

5,763

Mortgage Banking Revenues

4,252

4,155

4,794

4,190

3,820

Other

2,402

1,928

2,754

1,524

1,749

Total Noninterest Income

19,933

20,103

22,331

20,014

19,907

NONINTEREST EXPENSE

Compensation

25,703

28,384

26,056

26,490

26,248

Occupancy, Net

7,083

7,052

7,037

7,071

6,793

Other

8,587

7,431

9,823

8,977

5,660

Total Noninterest Expense

41,373

42,867

42,916

42,538

38,701

OPERATING PROFIT

20,665

18,601

21,091

20,040

21,985

Income Tax Expense

4,848

4,896

5,141

4,996

5,127

Net Income

15,817

13,705

15,950

15,044

16,858

NET INCOME ATTRIBUTABLE

TO

COMMON SHAREOWNERS

$

15,817

$

13,705

$

15,950

$

15,044

$

16,858

PER COMMON SHARE

Basic Net Income

$

0.92

$

0.80

$

0.93

$

0.88

$

0.99

Diluted Net Income

0.92

0.80

0.93

0.88

0.99

Cash Dividend

$

0.27

$

0.26

$

0.26

$

0.24

$

0.24

AVERAGE

SHARES

Basic

17,129

17,070

17,068

17,056

17,027

Diluted

17,146

17,140

17,114

17,088

17,044

10

CAPITAL CITY BANK GROUP,

INC.

ALLOWANCE FOR CREDIT LOSSES ("ACL")

AND CREDIT QUALITY

Unaudited

2026

2025

(Dollars in thousands, except per share data)

First

Quarter

Fourth

Quarter

Third

Quarter

Second

Quarter

First

Quarter

ACL - HELD FOR INVESTMENT LOANS

Balance at Beginning of Period

$

31,001

$

30,202

$

29,862

$

29,734

$

29,251

Provision for Credit Losses

635

1,984

1,550

718

1,083

Net Charge-Offs (Recoveries)

637

1,185

1,210

590

600

Balance at End of Period

$

30,999

$

31,001

$

30,202

$

29,862

$

29,734

As a % of Loans HFI

1.23%

1.22%

1.17%

1.13%

1.12%

As a % of Nonperforming Loans

278.19%

360.69%

368.54%

463.01%

692.10%

ACL - UNFUNDED COMMITMENTS

Balance at Beginning of Period

2,107

$

2,095

$

1,738

$

1,832

$

2,155

Provision for Credit Losses

82

12

357

(94)

(323)

Balance at End of Period

(1)

2,189

2,107

2,095

1,738

1,832

ACL - DEBT SECURITIES

Provision for Credit Losses

$

(5)

$

(1)

$

(26)

$

(4)

$

8

CHARGE-OFFS

Commercial, Financial and Agricultural

$

300

$

167

$

373

$

74

$

168

Real Estate - Commercial

-

4

-

-

-

Real Estate - Residential

-

67

12

49

8

Real Estate - Home Equity

13

10

10

24

-

Consumer

852

925

954

914

865

Overdrafts

631

670

619

437

570

Total Charge-Offs

$

1,796

$

1,843

$

1,968

$

1,498

$

1,611

RECOVERIES

Commercial, Financial and Agricultural

$

74

$

44

$

95

$

117

$

75

Real Estate - Commercial

84

29

8

6

3

Real Estate - Residential

77

8

13

65

119

Real Estate - Home Equity

10

6

10

42

9

Consumer

579

246

369

456

481

Overdrafts

335

325

263

222

324

Total Recoveries

$

1,159

$

658

$

758

$

908

$

1,011

NET CHARGE-OFFS (RECOVERIES)

$

637

$

1,185

$

1,210

$

590

$

600

Net Charge-Offs as a % of Average Loans

HFI

(2)

0.10%

0.18%

0.18%

0.09%

0.09%

CREDIT QUALITY

Nonaccruing Loans

$

11,143

$

8,595

$

8,195

$

6,449

$

4,296

Other Real Estate Owned

1,822

1,936

1,831

132

132

Total Nonperforming Assets ("NPAs")

$

12,965

$

10,531

$

10,026

$

6,581

$

4,428

Past Due Loans 30-89 Days

$

6,643

$

7,017

$

5,468

$

4,523

$

3,735

Classified Loans

14,545

14,334

26,512

28,623

19,194

Nonperforming Loans as a % of Loans HFI

0.44%

0.34%

0.32%

0.25%

0.16%

NPAs as a % of Loans HFI and Other Real Estate

0.51%

0.41%

0.39%

0.25%

0.17%

NPAs as a % of Total

Assets

0.29%

0.24%

0.23%

0.15%

0.10%

(1)

Recorded in other liabilities.

(2)

Annualized.

11

CAPITAL CITY BANK GROUP,

INC.

AVERAGE

BALANCE AND INTEREST RATES

Unaudited

First Quarter 2026

Fourth Quarter 2025

Third Quarter 2025

Second Quarter 2025

First Quarter 2025

(Dollars in thousands)

Average

Balance

Interest

Average

Rate

Average

Balance

Interest

Average

Rate

Average

Balance

Interest

Average

Rate

Average

Balance

Interest

Average

Rate

Average

Balance

Interest

Average

Rate

ASSETS:

Loans Held for Sale

$

24,716

$

404

6.63

%

$

24,261

$

374

6.11

%

$

25,276

$

425

6.68

%

$

22,668

475

8.40

%

$

24,726

$

490

8.04

%

Loans Held for Investment

(1)

2,538,318

37,886

6.05

2,568,073

39,230

6.06

2,606,213

39,894

6.07

2,652,572

40,436

6.11

2,665,910

40,029

6.09

Investment Securities

Taxable Investment Securities

1,117,505

9,042

3.26

1,004,420

7,756

3.07

992,260

7,175

2.88

1,006,514

6,666

2.65

981,485

5,802

2.38

Tax-Exempt Investment Securities

(1)

1,620

17

4.25

1,620

17

4.30

1,620

18

4.44

1,467

17

4.50

845

9

4.32

Total Investment Securities

1,119,125

9,059

3.26

1,006,040

7,773

3.08

993,880

7,193

2.88

1,007,981

6,683

2.65

982,330

5,811

2.38

Federal Funds Sold and Interest Bearing

Deposits

407,679

3,711

3.69

437,536

4,382

3.97

356,161

3,964

4.42

348,787

3,909

4.49

320,948

3,496

4.42

Total Earning Assets

4,089,838

$

51,060

5.06

%

4,035,910

$

51,759

5.08

%

3,981,530

$

51,476

5.12

%

4,032,008

$

51,503

5.12

%

3,993,914

$

49,826

5.06

%

Cash and Due From Banks

63,079

67,291

65,085

65,761

73,467

Allowance for Credit Losses

(31,545)

(30,922)

(30,342)

(30,492)

(30,008)

Other Assets

297,532

294,757

301,678

302,984

297,660

Total Assets

$

4,418,904

$

4,367,036

$

4,317,951

$

4,370,261

$

4,335,033

LIABILITIES:

Noninterest Bearing Deposits

$

1,282,988

$

1,303,266

$

1,314,560

$

1,342,304

$

1,317,425

NOW Accounts

1,302,894

$

4,221

1.31

%

1,235,961

$

4,055

1.30

%

1,198,124

$

3,782

1.25

%

1,225,697

$

3,750

1.23

%

1,249,955

$

3,854

1.25

%

Money Market Accounts

403,340

1,752

1.76

415,577

1,977

1.89

416,656

2,090

1.99

431,774

2,340

2.17

420,059

2,187

2.11

Savings Accounts

509,351

132

0.10

501,080

157

0.12

503,189

159

0.13

507,950

174

0.14

507,676

176

0.14

Time Deposits

192,443

1,290

2.72

191,626

1,355

2.80

179,802

1,234

2.72

172,982

1,141

2.65

170,367

1,166

2.78

Total Interest Bearing Deposits

2,408,028

7,395

1.25

2,344,244

7,544

1.28

2,297,771

7,265

1.25

2,338,403

7,405

1.27

2,348,057

7,383

1.28

Total Deposits

3,691,016

7,395

0.81

3,647,510

7,544

0.82

3,612,331

7,265

0.80

3,680,707

7,405

0.81

3,665,482

7,383

0.82

Repurchase Agreements

15,789

73

1.88

20,690

134

2.57

21,966

158

2.86

22,557

156

2.78

29,821

164

2.23

Other Short-Term Borrowings

27,836

327

4.76

20,954

217

4.09

12,753

58

1.82

10,503

179

6.82

7,437

117

6.39

Subordinated Notes Payable

41,620

398

3.83

42,582

451

4.15

42,582

383

3.52

51,981

530

4.03

52,887

560

4.23

Other Long-Term Borrowings

680

10

5.68

680

9

5.55

681

10

5.55

792

5

2.41

794

11

5.68

Total Interest Bearing Liabilities

2,493,953

$

8,203

1.33

%

2,429,150

$

8,355

1.36

%

2,375,753

$

7,874

1.32

%

2,424,236

$

8,275

1.37

%

2,438,996

$

8,235

1.37

%

Other Liabilities

74,300

78,520

85,422

76,138

65,211

Total Liabilities

3,851,241

3,810,936

3,775,735

3,842,678

3,821,632

SHAREOWNERS' EQUITY:

567,663

556,100

542,216

527,583

513,401

Total Liabilities, Temporary

Equity and

Shareowners' Equity

$

4,418,904

$

4,367,036

$

4,317,951

$

4,370,261

$

4,335,033

Interest Rate Spread

$

42,857

3.72

%

$

43,404

3.72

%

$

43,602

3.81

%

$

43,228

3.75

%

$

41,591

3.69

%

Interest Income and Rate Earned

(1)

51,060

5.06

51,759

5.08

51,476

5.12

51,503

5.12

49,826

5.06

Interest Expense and Rate Paid

(2)

8,203

0.81

8,355

0.82

7,874

0.78

8,275

0.82

8,235

0.84

Net Interest Margin

$

42,857

4.24

%

$

43,404

4.26

%

$

43,602

4.34

%

$

43,228

4.30

%

$

41,591

4.22

%

(1)

Interest and average rates are

calculated on a tax-equivalent basis using a 21% Federal tax rate.

(2)

Rate calculated based on average earning assets.

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 7

v3.26.1

Cover

Apr. 20, 2026

Document And Entity Information [Abstract]

Document Type

8-K

Amendment Flag

false

Document Period End Date

Apr. 20, 2026

Entity File Number

0-13358

Entity Registrant Name

CAPITAL CITY BANK GROUP, INC.

Entity Central Index Key

0000726601

Entity Tax Identification Number

59-2273542

Entity Incorporation, State or Country Code

FL

Entity Address, Address Line One

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

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common Stock, Par value $0.01

Trading Symbol

CCBG

Security Exchange Name

NASDAQ

Entity Emerging Growth Company

false

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The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

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Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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Local phone number for entity.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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Name of the Exchange on which a security is registered.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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