DEF 14A: Capital City Bank Group Announces 2025 Annual Shareowners Meeting and Proxy Statement

Capital City Bank Group sets date for its 2025 Annual Shareowners Meeting, outlining key proposals and voting procedures.

Summary

• Capital City Bank Group, Inc. will hold its 2025 Annual Shareowners Meeting on April 22, 2025, in Tallahassee, Florida.
• Shareowners of record as of February 20, 2025, are entitled to vote.
• The meeting will include voting on the election of 12 directors and the ratification of Forvis Mazars, LLP as the independent auditor.
• Proxy materials are available online, and the board encourages shareowners to vote by proxy via internet, telephone, or mail.
• The Board of Directors recommends voting for all director nominees and for the ratification of the independent auditor.
• In 2024, the CCBG Foundation donated approximately $0.3 million to various non-profit organizations in the communities served.
• At December 31, 2024, the company had approximately 969 associates, with 68% female and 21% ethnic minorities.
• The average tenure of associates is approximately 9.4 years, and the average tenure of the management team is 23.9 years.
• The company made commitments for a $7 million investment in SOLCAP 2022-1, LLC, a $7 million investment in SOLCAP 2023-1, LLC, and a $9.1 million investment in SOLCAP 2024-1, LLC.
• The clean power produced is equivalent to removing approximately 21,350 metric tons of greenhouse gas emissions.

Sentiment

Score: 7

Explanation: The document presents a balanced view of the company's governance and compensation practices, with a positive outlook on future strategic initiatives. The sentiment is moderately positive.

Positives

• The company emphasizes environmental stewardship through investments in renewable solar energy projects.
• The company supports community involvement and financial literacy through donations and educational outreach.
• The company fosters a positive work environment, reflected in numerous accolades and long associate tenure.
• The company offers competitive compensation and benefits to attract and retain experienced associates.
• The company has a strong corporate governance framework with an engaged, independent board.
• 2024 was a record year of earnings which totaled $53 million, a 1.3% increase over 2023.
• Since 2019, the company's EPS has grown at an average annual growth rate of 13%.
• The company increased cash dividends in 2024 by $0.12 per share, or 15.8%, over 2023.
• The company's tangible book value per share increased $3.20, or 15.6%, in 2024, and has increased $9.27 per share, or an average annual growth rate of 11.0% since 2019.

Future Outlook

The company believes it has sufficient capital and liquidity to pursue and implement its long-term strategic initiatives.

Management Comments

• William G. Smith, Jr. (Chairman, President, and Chief Executive Officer) looks forward to sharing highlights from 2024 and discussing nearand longer-term plans for Capital City.
• William G. Smith, Jr. encourages shareowners to vote as soon as possible to ensure representation at the meeting.

Industry Context

The document provides standard information related to a bank holding company's annual meeting and proxy statement, focusing on corporate governance, executive compensation, and financial performance. It does not offer specific insights into broader industry trends or competitive positioning beyond the peer group used for compensation benchmarking.

Comparison to Industry Standards

• The document mentions using a peer group of publicly traded bank holding companies with assets between $2 billion and $15 billion, located in Florida and nearby states, for executive compensation benchmarking.
• The company targets base salaries for senior executives at the 50th percentile and direct compensation at the 75th percentile of its peer group.
• The company's peer group includes companies such as Amerant Bancorp, Inc., BancPlus Corporation, and Seacoast Banking Corporation of Florida.
• The document also references the S&P U.S. SmallCap Banks Index for Total Shareholder Return (TSR) comparison.

Related Party Transactions

• The Company leases land from a partnership (Smith Interests General Partnership L.L.P.) in which William G. Smith, Jr. has an interest, with lease payments totaling $0.1 million in 2024.
• William G. Smith, III, the son of William G. Smith, Jr., is employed as Chief Lending Officer at Capital City Bank, with compensation determined in accordance with standard practices.

Stakeholder Impact

• Shareowners are provided with information to make informed voting decisions.
• Associates are recognized for their contributions and provided with competitive compensation and benefits.
• Communities benefit from the company's philanthropic activities and financial literacy programs.
• The company's commitment to environmental stewardship benefits the public at large.

Next Steps

• Shareowners are encouraged to review the proxy materials and vote on the proposals.
• The company will hold the 2025 Annual Shareowners Meeting on April 22, 2025.
• The Board will act on any tendered resignations from directors and publicly disclose its decision.

Key Dates

Keywords

Annual Meeting, Proxy Statement, Board of Directors, Shareholders, Corporate Governance, Director Election, Auditor Ratification, Executive Compensation, Financial Performance, Capital City Bank Group