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BUSINESS AND BASIS OF PRESENTATION
3 Months Ended
Mar. 31, 2023
Business and Basis of Presentation [Abstract]  
Business and Basis of Presentation
NOTE 1 –
BUSINESS AND BASIS OF PRESENTATION
Nature of Operations
.
 
Capital City Bank Group, Inc. (“CCBG” or the “Company”) provides a full range of
 
banking and banking-
related services to individual and corporate clients through its subsidiary,
 
Capital City Bank, with banking offices located in Florida,
Georgia, and Alabama.
 
The Company is subject to competition from other financial institutions, is subject to
 
regulation by certain
government agencies and undergoes periodic examinations
 
by those regulatory authorities.
Basis of Presentation
.
 
The consolidated financial statements in this Quarterly Report on Form
 
10-Q include the accounts of CCBG
and its wholly owned subsidiary,
 
Capital City Bank (“CCB” or the “Bank”).
 
All material inter-company transactions and accounts
have been eliminated.
 
Certain previously reported amounts have been reclassified to conform to the current year’s
 
presentation.
The accompanying unaudited consolidated financial statements have
 
been prepared in accordance with generally accepted accounting
principles for interim financial information and with the instructions to Form
 
10-Q and Article 10 of Regulation S-X.
 
Accordingly,
they do not include all of the information and notes required by generally accepted
 
accounting principles for complete financial
statements.
 
In the opinion of management, all adjustments (consisting of normal
 
recurring accruals) considered necessary for a fair
presentation have been included.
 
The Consolidated Statement of Financial Condition at December
 
31, 2022 has been derived from the audited consolidated financial
statements at that date, but does not include all of the information and notes
 
required by generally accepted accounting principles for
complete financial statements.
 
For further information, refer to the consolidated financial statements and notes
 
thereto included in the
Company’s annual report
 
on Form 10-K for the year ended December 31, 2022.
Accounting Standards Updates
Adoption of New Accounting Standard,
 
On January 1, 2023, the Company adopted Accounting Standards Update (“ASU”) 2022-02,
“Financial Instruments – Credit Losses (Topic
 
326), Troubled Debt Restructurings and Vintage
 
Disclosures.” ASU 2022-02 eliminates
the accounting guidance for troubled debt restructurings in Accounting
 
Standards Codification (“ASC”) 310-40, “Receivables -
Troubled Debt Restructurings by Creditors
 
 
for entities that have adopted the current expected credit loss model introduced
 
by ASU
2016-13, “Financial Instruments – Credit Losses (Topic
 
326), Measurement of Credit Losses on Financial Instruments.”
 
ASU 2022-
02 also requires that public business entities disclose current-period
 
gross charge-offs by year of origination for financing receivables
and net investments in leases within the scope of Subtopic 326-20, “Financial
 
Instruments—Credit Losses—Measured at Amortized
Cost.”
Proposed Accounting Standards
,
ASU
 
2023-01, “Leases (Topic
 
842)
:
 
Common Control Arrangements.” ASU 2023-01 requires
entities to amortize leasehold improvements associated with common control
 
leases over the useful life to the common control group.
ASU 2023-01 also provides certain practical expedients applicable to private
 
companies and not-for-profit organizations. ASU 2023-
01 will be effective for us on January 1, 2024, though early adoption
 
is permitted. The Company is evaluating the effect that ASU
2023-01 will have on its consolidated financial statements and related disclosures.
ASU No.
 
2023-02, “Investments—Equity Method and Joint Ventures
 
(Topic
 
323)
: Accounting for Investments in Tax
 
Credit
Structures Using the Proportional Amortization Method.” ASU 2023-02
 
is intended to improve the accounting and disclosures for
investments in tax credit structures. ASU 2023-02 allows entities to elect to account
 
for qualifying tax equity investments using the
proportional amortization method, regardless of the program giving
 
rise to the related income tax credits. Previously,
 
this method was
only available for qualifying tax equity investments in low-income
 
housing tax credit structures. ASU 2023-02 will be effective for us
on January 1, 2024, though early adoption is permitted.
 
The Company is evaluating the effect that ASU 2023-02 will have on its
consolidated financial statements and related disclosures.