Capital City Bank Group, Inc. Receives Notification of Deficiency From NASDAQ Related to Delayed Filing of Quarterly Report on Form 10-Q
May 24 2024 - 4:15PM
Capital City Bank Group, Inc. (the “Company”) today announced that
it received on May 21, 2024 a notice from the Nasdaq Stock Market
LLC (“Nasdaq”) stating that, as a result of not having timely filed
its Quarterly Report on Form 10-Q for the quarter ended March 31,
2024 (the “Form 10-Q”), the Company is no longer in compliance with
the continued listing requirements of Nasdaq Listing Rule
5250(c)(1), which requires listed companies to timely file all
required periodic financial reports with the Securities and
Exchange Commission (the “SEC”).
The notice from Nasdaq has no immediate effect
on the listing or trading of our common stock on the Nasdaq Global
Select Market. Under Nasdaq’s listing rules, the Company has 60
calendar days from the date of the notice to submit a plan to
regain compliance. If the plan is accepted by Nasdaq, the Company
can be granted up to 180 calendar days from the Form 10-Q’s due
date to regain compliance. The Company expects to file the Form
10-Q with the SEC within the timeline prescribed by Nasdaq, which
would eliminate the need to submit a plan to regain compliance.
The Company intends to file its Form 10-Q as
promptly as practicable.
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 $4.3 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, securities
brokerage services and financial advisory services, including the
sale of life insurance, risk management and asset protection
services. Our bank subsidiary, Capital City Bank, was founded in
1895 and now has 63 banking offices and 104 ATMs/ITMs in Florida,
Georgia and Alabama. For more information about Capital City Bank
Group, Inc., visit www.ccbg.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking
statements (within the meaning of the Private Securities Litigation
Reform Act of 1995 and other legal authority) that are based on
current plans and expectations that are subject to uncertainties
and risks, which could cause our actual 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. We may not actually achieve the plans,
carry out the intentions or meet the expectations disclosed in the
forward-looking statements, and you should not place undue reliance
on these forward-looking statements, due to many factors and
assumption, many of which are beyond the Company’s control. Among
the factors that could cause the Company’s financial performance to
differ materially from that suggested by forward-looking statements
include, without limitation, the inability of the Company to file
the Form 10-Q on its expected timeline and regain compliance with
Nasdaq listing requirements, and the other risks and uncertainties
described in our Annual Report on Form 10-K for the fiscal year
ended December 31, 2023 and our other filings with the SEC (as
amended), which are available at the SEC’s internet site
(http://www.sec.gov). Forward-looking statements in this press
release speak only as of the date of this 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.
For Information Contact:Jep LarkinExecutive Vice
President and Chief Financial Officer850.402. 8450
Capital City Bank (NASDAQ:CCBG)
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