UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K

ANNUAL REPORT PURSUANT TO SECTION 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

____________________________

(Mark One)

[X]

 ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF

1934

 For the fiscal year ended December 31, 2021

 OR

[ ] 

 TRANSITION

REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT

OF 1934 

 For the transition period from ____________ to ____________

Commission file number 0-13358

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

CAPITAL CITY BANK GROUP, INC. 401(k) Plan

(Exact name of the plan)

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Capital City Bank Group, Inc.

217 North Monroe Street

Tallahassee, Florida 32301

REQUIRED INFORMATION

The following financial statements shall be furnished for the plan:

The Capital City Bank Group, Inc. 401(k) Plan (“Plan”) is subject to the Employee Retirement

Income Security Act of 1974 (“ERISA”). Therefore, in lieu of the requirements of items 1-3 of Form 11-

K, the financial statements and schedule of the Plan for the two years ended December 31, 2021 and 2020

have been prepared in accordance with the financial reporting requirements of ERISA.

F

INANCIAL

S

TATEMENTS AND

S

UPPLEMENTAL

S

CHEDULE

Capital City Bank Group, Inc. 401(k) Plan

December 31, 2021 and 2020

and Year Ended December 31, 2021

With Report of Independent Registered Public Accounting Firm

Capital City Bank Group, Inc. 401(k) Plan

Financial Statements and Supplemental Schedule

December 31, 2021 and 2020 and Year Ended December 31, 2021

Contents

Reports of Independent Registered Public Accounting Firms .........................................................1

Financial Statements

Statements of Net Assets Available for Benefits .............................................................................3

Statement of Changes in Net Assets Available for Benefits ............................................................4

Notes to Financial Statements ..........................................................................................................5

Supplemental Schedule

Schedule H, Line 4i – Schedule of Assets (Held at End of Year) .................................................13

1

Report of Independent Registered Public Accounting Firm

Plan Administrator and Plan Participants

Capital City Bank Group, Inc. 401(k) Plan

Tallahassee, Florida

Opinion on the Financial Statements

We have audited the accompanying statement of net assets available for benefits of Capital City Bank Group, Inc. 401(k) Plan (the

Plan) as of December 31, 2021, the related statement of changes in net assets available for benefits for the year then ended, and the

related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements referred to above present

fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2021 and the changes in net assets

available for benefits for the year then ended in conformity with accounting principles generally accepted in the United States of

America.

Basis of Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these

financial statements based on our audit.

We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are

required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and

regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit

to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. 

The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of

our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing

an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error

or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence

regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used

and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe

that our audit provide a reasonable basis for our opinion.

Report on Supplemental Information

The supplemental information in the accompanying Schedule H, Line 4i – Schedule of Assets (Held at End of Year) as of December

31, 2021 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The

supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the

supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and

performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming

our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is

presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the

Employee

Retirement Income Security Act of 1974

. In our opinion, the supplemental information is fairly stated, in all material respects, in

relation to the basic financial statements taken as a whole.

/s/

FORVIS, LLP 

(formerly BKD, LLP)

We have served as the Plan’s auditor since 2022.

Little Rock, Arkansas

June 27, 2022

2

Report of Independent Registered Public Accounting Firm

To the Plan Participants and the Plan Administrator of Capital City Bank Group, Inc. 401(k) Plan

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of Capital City Bank Group, Inc. 401(k)

Plan (the Plan) as of December 31, 2020, and the related notes (collectively referred to as the “financial statements”). In

our opinion, the financial statement presents fairly, in all material respects, the net assets available for benefits of the Plan

at December 31, 2020, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on

the Plan’s financial statements based on our audit. We are a public accounting firm registered with the Public Company

Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in

accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange

Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and

perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement,

whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal

control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over

financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over

financial reporting. Accordingly, we express no such opinion. 

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether

due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a

test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating

the accounting principles used and significant estimates made by management, as well as evaluating the overall

presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

 /s/ Ernst & Young LLP

We served as the Plan’s auditor from 2013 to 2020.

Tallahassee, Florida

June 25, 2021

3

Capital City Bank Group, Inc. 401(k) Plan

Statements of Net Assets Available for Benefits

December 31,

2021

2020

Assets

Investments at fair value

$

49,773,148

$

43,700,762

Total assets

49,773,148

43,700,762

Net assets available for benefits

$

49,773,148

$

43,700,762

See accompanying notes.

4

Capital City Bank Group, Inc. 401(k) Plan

Statement of Changes in Net Assets Available for Benefits

Year Ended December 31, 2021

2021

Additions

Investment income: 

Dividends and interest income

$

505,852

Net appreciation in fair value of investments

5,537,667

Total Investment Income

6,043,519

Contributions:

Participants

3,232,607

Employer

1,048,368

Rollover

489,774

Total Contributions

4,770,749

Total Additions

10,814,268

Deductions

Benefit payments

4,600,317

Administrative expenses

141,565

Total deductions

4,741,882

Net increase

6,072,386

Net assets available for benefits at beginning of year

43,700,762

Net assets available for benefits at end of year

$

49,773,148

See accompanying notes.

5

Capital City Bank Group, Inc. 401(k) Plan

Notes to Financial Statements

December 31, 2021

1. Description of Plan

The following description of Capital City Bank Group, Inc. 401(k) Plan (the “Plan”) provides general

information about the Plan’s provisions. Capital City Bank Group, Inc. (the “Company”) is the plan

sponsor. Participants should refer to the Plan document and Summary Plan Description for a more

complete description of the Plan’s provisions, copies of which may be obtained from the plan sponsor.

General

The Plan is a defined contribution retirement plan established under the provisions of Section 401(a) of

the Internal Revenue Code (the IRC), which includes a qualified deferred arrangement as described in

Section 401(k) of the IRC. The Plan is intended to provide benefits to all eligible employees of the

Company. Employees of the Company become eligible to participate in the Plan at the time of

employment. Employees may enter the Plan on the first day of the month coinciding with or following the

date on which the employee becomes eligible to participate in the Plan.

The overall responsibility for administering the Plan rests with the Company. However, the Company has

delegated administration of the Plan to the Company’s Retirement Committee (the “Plan

Administrator”). The administrative and record-keeping services are outsourced to Empower Retirement. 

Reliance Trust serves as trustee and asset custodian. Strategic Retirement Partners served as the 3(38)

fiduciary for the plan year ended December 31, 2021. 

In March 2020, the World Health Organization declared the outbreak and ongoing coronavirus 2019

disease (Covid-19) a pandemic. Covid-19 has contributed to volatility in financial markets. The Plan

adopted certain features specified in recent Federal regulations of the Coronavirus Aid Relief and

Economic Security Act (“CARES Act”) for qualifying participants including Covid-19 distribution

options of up to $100,000, and elimination of 2020 Required Minimum Distributions for those

participants who meet certain qualifications. The impact of these provisions had an immaterial effect to

the Plan during 2021.

6

1. Description of Plan (continued)

Contributions

Each year, participants may elect to contribute up to 100% of pretax annual compensation, as defined in

the Plan document and subject to certain limitations under the IRC. Participants may choose to change

their deferral percentage at any time. The Plan also includes an automatic contribution arrangement that

applies to new or re-hired employees of the Company. The automatic deferral amount is 3% of eligible

compensation. On June 1, 2020, automatic contribution was extended to include any employees not

actively deferring 3% or more; these employees will be auto-enrolled with a 3% deferral rate. 

Additionally, on June 1, 2021, the plan auto-escalated participants’ deferral rate by 1% annually each

June until a 6% deferral rate is achieved. Employees who do not wish to be automatically enrolled or

auto-escalate may elect not to defer or to defer another percentage. The Plan also allows participants who

reach the age of 50 during the taxable year to make catch-up contributions. Catch-up contributions are

401(k) elective deferral contributions in excess of any limit on such contributions under the Plan subject

to IRC limitations. The Plan also allows participants to contribute monies as Roth contributions, subject

to the same limitations as are in place for pretax contributions.

For 2021, the Company provided a 50% match on participant contributions of 6% or less of eligible

compensation. Only employees hired after January 1, 2002, and who have completed 90 days of service,

are eligible for this match. Only employees hired or rehired after December 31, 2019, and who have

completed 90 days of service are eligible for the 3% automatic contribution arrangement. All new

employees hired after January 1, 2021, in addition to the 50% match, received a separate non-elective

contribution equal to 3% of their annual compensation, calculated on a monthly payroll basis. Ninety

days of service is required before this non-elective contribution begins. No additional discretionary

employer contributions were made for 2021.

Participant Accounts

Each participant’s account is credited with the participant’s contribution, the Company matching

contributions, and effective January 1, 2020 the 3% non-elective contribution for eligible employees, and

allocations of Plan earnings based on the participant’s investment elections; any withdrawal distribution

fees are charged to the participant account. Administrative expenses are paid by the plan, the participants,

or directly by the Company, as defined in the Plan document and/or vendor agreements. The benefit to

which a participant is entitled is the benefit that can be provided from the participant’s vested account. 

Each participant directs the investment of his or her account to any of the investment options available

under the Plan.

Vesting

Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the

Company’s matching portion of their accounts (including the 3% non-elective contributions) plus actual

earnings thereon is based on years of credited service. A participant is 100% vested in the Company’s

matching, 3% non-elective and discretionary contributions (if any), and related earnings thereon, after

three years of credited service (on a cliff basis). Credited service for vesting purposes requires 1,000

hours during the Plan year.

A participant becomes fully vested in his or her account balance upon retirement, death or disability.

Capital City Bank Group, Inc. 401(k) Plan

Notes to Financial Statements (continued)

7

1. Description of Plan (continued)

Forfeitures

Forfeitures are used to reduce the employer contributions and/or pay Plan administrative expenses.

Unallocated forfeited balances as of December 31, 2021 and 2020 were approximately $21,900 and

$1,300 respectively. The Company did not use forfeitures to reduce Company contributions for 2021.

Payment of Benefits

Upon termination of service due to death, disability, retirement or other reason, a participant (or their

beneficiary in the event of death) will, upon request, receive a lump-sum amount equal to the value of the

vested interest in his or her account. Participants may also receive a distribution while in service upon

demonstration of financial hardship or reaching age 59 ½. Participants that are qualified reservists and

are called upon for active duty for more than 179 days or an indefinite period may receive a distribution.

Administrative Expenses

The Plan’s administrative expenses were paid, pro rata, by participants. Forfeiture monies were used to

offset participant expenses. Expenses relating to purchases, sales, transfers or distributions of the Plan’s

investments are charged to the particular investment fund and/or participant to which the expense relates.

Plan Termination

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue

its contributions at any time and to terminate the Plan subject to the provisions of the Employee

Retirement Income Security Act of 1974, as amended (ERISA). In the event of Plan termination,

participants would become 100% vested in their employer contributions and earnings thereon.

Capital City Bank Group, Inc. 401(k) Plan

Notes to Financial Statements (continued)

8

2. Summary of Significant Accounting Policies

Basis of Accounting

The financial statements of the Plan are prepared under the accrual basis of accounting in accordance with

U.S. generally accepted accounting principles.

Payment of Benefits

Benefits are recorded when paid.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles

requires management to make estimates and assumptions that affect the amounts reported in the financial

statements and accompanying notes and supplemental schedule. Actual results could differ from those

estimates.

Investment Valuation and Income Recognition

Investments held by the Plan are stated at fair value. Fair value is defined as the price that would be

received to sell an asset or paid to transfer a liability in an orderly transaction between market participants

at the measurement date (an exit price). See Note 3 for further discussion and disclosures related to fair

value measurements.

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded as earned.

Dividends are recorded on the ex-dividend date. Net appreciation / (depreciation) include the Plan’s gains

and losses on investments bought and sold as well as held during the year.

Recent Accounting Pronouncements

Presently, Plan management is not aware of any recent accounting pronouncements from the Financial

Accounting Standards Board that will have a material impact on the Plan’s present or future financial

statements.

Capital City Bank Group, Inc. 401(k) Plan

Notes to Financial Statements (continued)

9

3. Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an

orderly transaction between market participants on the measurement date (i.e., an exit price). The fair

value hierarchy prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy

gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities

(Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value

hierarchy are described below:

Level 1: Unadjusted quoted prices in active markets that are accessible to the reporting entity at

the measurement date for identical assets and liabilities.

Level 2: Inputs other than quoted prices in active markets for identical assets and liabilities that

are observable either directly or indirectly for substantially the full term of the asset or liability. 

Level 2 inputs include the following:

●

quoted prices for similar assets and liabilities in active markets

●

quoted prices for identical or similar assets or liabilities in markets that are not active

●

observable inputs other than quoted prices that are used in the valuation of the asset or

liabilities (e.g., interest rate and yield curve quotes at commonly quoted intervals)

●

inputs that are derived principally or corroborated by observable market data by correlation or

other means

Level 3: Unobservable inputs for the asset or liability (i.e., supported by little or no market activity).

Level 3 inputs include management’s own assumption about the assumptions that market participants

would use in pricing the asset or liability (including assumptions about risk).

The level in the fair value hierarchy within which the fair value measurement is classified is determined

based upon the lowest level input that is significant to the fair value measurement in its entirety.

Following is a description of the valuation techniques and inputs used for each general type of

investments measured at fair value by the Plan.

Company common stock

: Valued at the closing price reported on the active market on which the common

stock is traded.

Mutual funds

: Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are

open-ended mutual funds that are registered with the SEC. These funds are required to publish their daily

net asset value (NAV) and to transact at that price. The mutual funds held by the Plan are deemed to be

actively traded.

Collective investment trusts:

 Valued at the NAV of units of a collective investment trust. The

NAV,

as

provided by the trustee, is used as a practical expedient to estimate fair value. The NAV is based on the

fair value of the underlying investments held by the fund less its liabilities. This practical expedient is not

used when it is determined to be probable that the fund will sell the investment for an amount different

than the reported

NAV.

Participant transactions (purchased and sales) may occur daily.

Capital City Bank Group, Inc. 401(k) Plan

Notes to Financial Statements (continued)

10

3. Fair Value Measurements (continued)

The following tables set forth by level, within the fair value hierarchy, the Plan’s assets carried at fair

value.

December 31, 2021

Level 1

Level 2

Level 3

Total

Company common stock

$

2,005,671

$

-

$

-

$

2,005,671

Mutual funds

10,578,377

-

-

10,578,377

Collective investment trusts

(a)

-

-

-

37,189,100

$

12,584,048

$

-

$

-

$

49,773,148

December 31, 2020

Level 1

Level 2

Level 3

Total

Company common stock

$

1,893,276

$

-

$

-

$

1,893,276

Mutual funds

8,748,324

-

-

8,748,324

Collective investment trusts

(a)

-

-

-

33,059,162

$

10,641,600

$

-

$

-

$

43,700,762

(a)

 These investments are valued based on NAV per unit, as provided by the trustee of the fund as

 a practical expedient, and have not been classified in the fair value hierarchy. The fair value

 amounts are provided to reconcile to the statement of net assets available for benefits.

4. Risks and Uncertainties

The Plan holds various investment securities. Investment securities are exposed to various risks such as

interest rate, market, liquidity and credit risks. Due to the level of risk associated with certain investment

securities, it is at least reasonably possible that changes in the fair values of investment securities will

occur in the near term and that such changes could materially affect participants’ account balances and the

amounts reported in the statements of net assets available for benefits.

5. Related Party and Party-In-Interest Transactions

The Plan invests in the common stock of the Company. This transaction qualifies as party-in-interest

transaction; however, it is exempt from the prohibited transaction rules under ERISA. During 2021, the

Plan received common stock cash dividends of $48,603 from the Company. Certain administrative

functions are performed by officers or employees of the Company. No such officer or employee receives

compensation from the Plan. Administrative expenses of the Plan are netted directly from the participant

accounts.

Capital City Bank Group, Inc. 401(k) Plan

Notes to Financial Statements (continued)

11

6. Tax Status

The underlying prototype plan has received opinion letters from the Internal Revenue Service (IRS) dated

March 31, 2014, and June 30, 2020, stating that the written form of the underlying prototype document is

qualified under Section 401 of the IRC. Any employer adopting this form of the plan will be considered

to have a plan qualified under Section 401 of the Code, and, therefore, the related trust is tax-exempt.

Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualified status.

The plan administrator believes the Plan is being operated in compliance with the applicable requirements

of the Code and, therefore, believes the Plan is qualified and the related trust is tax exempt. 

Accounting principles generally accepted in the United States require plan management to evaluate tax

positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that

more likely than not would not be sustained upon examination by the IRS. Plan management has analyzed

the tax positions taken by the Plan, and has concluded that there are no uncertain positions taken or

expected to be taken. The Plan is subject to routine audits by taxing jurisdictions; however, currently there

are no audits for any tax periods in progress.

Supplemental Schedule

13

Capital City Bank Group, Inc. 401(k) Plan

Plan No. 003 EIN 59-2273542

Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

December 31, 2021

Identity of Issue, Borrower,

Lessor, or Similar Party

Description of Investment Including Maturity Date, Rate of

Interest, Collateral, Par, or Maturity Value

Cost

Current

 Value

Mutual funds:

Cohen & Steers

Real Estate Securities Z, 24,780 shares

**

$

546,902

Fidelity

Advisor Small Cap Growth I, 31,437 shares

**

999,378

Fidelity

Advisor Total Bond I, 116,757 shares

**

1,289,000

Goldman Sachs

Small Cap Value Insights R6, 1,624 shares

**

94,389

Fidelity

Emerging Markets Index, 49,205 shares

**

594,884

Franklin Templeton

Franklin Utilities R6, 9,954 shares

**

221,272

Touchstone

Mid Cap Y, 8,781 shares

**

435,615

MFS

Mid Cap Value R6, 2,884 shares

**

93,528

JP Morgan

100% U.S. Treas Sec MM Inst, 2,589,740 shares

**

2,610,312

Principal

Government & High Qual Bd Inst, 4,507 shares

**

46,239

MFS

Md Cap Growth R6, 17,048 shares

**

571,780

Vanguard

Mid Cap Index Fund - Admiral, 3,837 shares

**

1,210,276

Fidelity

Advisor Growth Opps Z, 4,241 shares

**

679,740

Victory

High Yield Y, 49,529 shares

**

334,818

T. Rowe Price

U.S. Equity Research, 5,274 shares

**

238,525

Blackrock

Advantage Small Cap Core K, 16,351 shares

**

301,679

Vanguard

Equity Income ADM, 3,362 shares

**

310,040

Total

10,578,377

Collective investment trusts:

Blackrock

Equity Index Fund R, 6,540 shares

**

4,215,975

Blackrock

LifePath Index 2025 Fund CL 35, 153,532 shares

**

4,648,950

Blackrock

LifePath Index 2030 Fund CL 35, 130,397 shares

**

4,385,245

Blackrock

LifePath Index 2035 Fund CL 35, 156,277 shares

**

5,766,631

Blackrock

LifePath Index 2040 Fund CL 35, 104,901 shares

**

4,154,087

Blackrock

LifePath Index 2045 Fund CL 35, 58,867 shares

**

2,490,672

Blackrock

LifePath Index 2050 Fund CL 35, 43,276 shares

**

1,840,982

Blackrock

LifePath Index 2055 CL 35, 72,775 shares

**

1,596,683

Blackrock

LifePath Index 2060 CL 35, 14,845 shares

**

313,969

Blackrock

LifePath Index 2065 Fund CL 35, 8,842 shares

**

118,748

Blackrock

LifePath Index Retire CL 35, 153,319 shares

**

3,346,960

Blackrock

MSCI ACWI ex-U.S. Index R, 46,325 shares

**

747,218

Blackrock

Russell 1000 Growth R, 59,154 shares

**

1,927,227

Blackrock

Russell 1000 Value Index Fund R, 37,176 shares

**

726,789

Blackrock

Russell 2000 Index Fund R, 3,525 shares

**

908,964

Total

37,189,100

Company common stock:

*Capital City Bank Group, Inc.

Capital City Bank Group Stock, 75,972 shares

**

2,005,671

$

49,773,148

* Party-in-interest

** Participant-directed investment, cost not required

CAPITAL CITY BANK GROUP, INC. 401(K) PLAN

EXHIBIT INDEX

Exhibit No. Document

23.1* 

Consent of FORVIS, LLP, Independent Registered Certified Public Accounting Firm

23.2*

Consent of Ernst & Young LLP, Independent Registered Certified Public Accounting

Firm

*Filed herewith

SIGNATURES

The Plan.

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other

persons who administer the employee benefit plan) have duly caused this annual report to be signed on its

behalf by the undersigned hereunto duly authorized.

CAPITAL CITY BANK GROUP, INC. 401(K) PLAN

By: /s/Beth Corum

 Beth Corum, Chief Operating Officer

 Capital City Bank Group, Inc.

 Retirement Committee, Chairman

Dated: June 27, 2022