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Document and Entity Information - shares | 6 Months Ended |
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Jun. 30, 2023 | Jul. 27, 2023
Document And Entity Information |  |
Document Type | 10-Q/A |
Document Period End Date | Jun. 30, 2023 |
Document Quarterly Report | true |
Document Transition Report | false |
Entity File Number | 0-13358 |
Entity Registrant Name | Capital City Bank Group, Inc. |
Entity Incorporation State Country Code | FL |
Entity Tax Identification Number | 59-2273542 |
Address Line 1 | 217 North Monroe Street |
Name of the City or Town | Tallahassee |
Name of the state or province | FL |
Code for the postal or zip code | 32301 |
City Area Code | 850 |
Local Phone Number | 402-7821 |
Security 12b Title | Common Stock, Par value $0.01 |
Trading Symbol | CCBG |
Security Exchange Name | NASDAQ |
Entity's Reporting Status Current | No |
Entity Interactive Data Current | No |
Entity Filer Category | Accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding |  | 16,991,634
Entity Central Index Key | 0000726601 |
Amendment Flag | true |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2023 |
Amendment Description | EXPLANATORY NOTE Capital City Bank Group, Inc. (the “Company”) is filing this Amendment No. 1 on Form 10-Q/A (the “Amendment” or “Form 10-Q/A”) to amend and restate certain items in its Quarterly Report on Form 10-Q for the period ended June 30, 2023, originally filed with the U.S. Securities and Exchange Commission (the “SEC”) on July 31, 2023 (the “Original Form 10-Q”). Except as described below, no other information included in the Original Form 10-Q is being amended or updated by this Amendment and this Amendment does not purport to reflect any information or events subsequent to the Original Form 10-Q. 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” or “the Bank”), 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, 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 I – Item 1 Financial Information – Note 1 – Restatement of Previously Issued Consolidated Financial Statements” in this Form 10-Q/A. The Company determined that it would file amendments to the Annual Report on Form 10-K for the year ended December 31, 2022, its Quarterly Report on Form 10-Q for the three months ended March 31, 2023, and the Original Form 10-Q, 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-Q/A includes unaudited restated consolidated financial statements as of June 30, 2023 and for the three-month and six-month periods ended June 30, 2023, and the audited restated consolidated statements of financial condition as of December 31, 2022. In addition to correcting the accounting treatment for the mortgage banking inter-company transactions described above, the restated consolidated financial statements, 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 restatements, see “Part I – Item 1 Financial Information – Note 1 – Restatement of Previously Issued Consolidated Financial Statements” in this Form 10-Q/A. This Form 10-Q/A also amends and restates the following items included in the Original Form 10-Q as appropriate to reflect the restatement and revision of the relevant periods: Part I – Item 1 Financial Information; Item 2. Management’s Discussions and Analysis of Financial Condition and Results of Operations; Item 3. Quantitative and Qualitative Disclosures About Market Risk; Item 4. Controls and Procedures; and Part II - Item 6. Exhibits. 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-Q/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). Except as discussed above and as further described herein, the Company has not modified or updated the disclosures presented in the Original Form 10-Q/A. Accordingly, this Form 10-Q/A does not reflect events occurring after the filing of Original Form 10-Q 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-Q. Forward-looking statements included in this Form 10-Q/A represent management’s views as of the date of the Original Form 10-Q and should not be assumed to be accurate as of any date thereafter. This Form 10-Q/A should be read in conjunction with the Company's filings made with the SEC subsequent to the filing of the Original Form 10-Q, 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 June 30, 2023, as further described in “Part I – Item 4. Controls and Procedures.” Based on this assessment, the Company identified a material weakness in its internal control over financial reporting for the review of significant 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 as of June 30, 2023. 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 in the Company’s Form 10-K/A for the year ended December 31, 2022, which was filed with the SEC on December 22, 2023 (the “2022 Form 10-K/A”) for a description of these matters. |

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