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CAPITAL CITY BANK GROUP INC

For the period ended Dec 31, 2024. Filed Mar 11, 2025.

View on SEC.gov

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 11, 2025

CCBG$50.31-0.1%Stored close · as of Nov 6, 2026

What changed in Risk Factors?

Read the current filing

Previous report: 10-K

Period ended 2023-12-31; filed 2024-03-13.

0000726601-24-000007

Item 1A. Risk Factors

Current report: 10-K

Period ended 2024-12-31; filed 2025-03-11.

0000726601-25-000013

Item 1A. Risk Factors

The baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.

Compared 1677 previous paragraphs and 1875 current paragraphs.

1194 unchanged; 194 reworded; 464 added; 271 removed; 18 previous and 23 current paragraphs rearranged.

Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.

A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.

Added paragraphs (464)

Current report

lowering the federal funds rate and lowered it three times during the year for a cumulative

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decrease of 1.00%. In December 2024,

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the Federal Reserve released its economic projections suggesting that it will reduce

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the federal funds rate twice in 2025 for a

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cumulative decrease of 0.50% for the year, but

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there is no guarantee that the Federal Reserve will further reduce the federal funds

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even increase it.

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Individual,

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political, industry

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other factors

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fuel prices,

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anticipated

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adversely affect

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our ability

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to anticipate

Showing the first 40 of 464 passages. Open the source sections for the rest.

Removed paragraphs (271)

Previous report

Prior to 2022, the Federal Reserve had not raised the federal funds rate since

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December 2018. The increase in the federal funds rate could have an

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adverse effect on our net interest income and profitability.

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market interest rates start rising again, interest rate adjustment caps may also limit

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increases in the interest rates on adjustable-rate

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loans, which could further reduce our net interest income. Further,

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increased price competition for deposits resulting from the

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return to a historically normal interest rate environment could adversely

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affect our net interest margin.

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stock, or the

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common stock. If securities analysts do not cover our common stock, the lack

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of research coverage may adversely affect its

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market price. If we are covered by securities analysts, and our common stock is the subject of

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we could lose visibility in the financial markets, which may cause our

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30.2% of our total loan portfolio.

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business. In

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loans comprised approximately 8.2% of

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approximately 3.5% of our total loan portfolio.

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portfolio.

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31, 2023, approximately 30.2% and 44.4% of our $2.7 billion

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real estate, respectively.

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would sustain loan losses.

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was $29.9 million, which represented

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We had $6.2

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significant

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As market interest rates have increased, we have experienced significant unrealized

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liquidity purposes.

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capacity, or bank regulators impose

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restrictions on us that

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Regulation

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and Federal Reserve, declare a dividend from retained net income which accrued

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Additional

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state laws generally applicable to Florida corporations may also limit our ability

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the Florida Office of Financial

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regulations, policies, and supervisory guidance or changes in existing

Showing the first 40 of 271 passages. Open the source sections for the rest.

Reworded paragraphs (194)

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deciding whether to invest in our common stock. Our business, including our operating

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deciding whether to invest in our common stock. Our business, including

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results and financial condition, could be

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our operating results and financial condition, could be

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any of these risks, and you may lose all or part of your investment. In assessing these risks, you

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any of these risks, and you may lose all or part of your investment. In assessing these risks,

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should also refer to the other

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you should also refer to the other

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times for a cumulative increase of 5.25% and there is no guarantee that it will

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times for a cumulative increase of 5.25%. In 2024, the Federal Reserve began

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reduce the federal funds rate in the near-term.

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rate in the near-term and could maintain the rate at the current level or

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eased but remained elevated throughout 2023. Small to medium-sized

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eased but remained elevated throughout 2023 and 2024. Small to medium

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businesses may be impacted more during periods of high

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-sized businesses may be impacted more during periods

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inflation as they are not able to leverage economies of scale to mitigate cost pressures compared

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of high inflation as they are not able to leverage economies of scale to mitigate cost pressures compared

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Our profitability and the success of our business depends substantially on the general

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Our profitability and the success of our business depends substantially on the

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economic conditions of the States of Florida

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general economic conditions of the States of Florida

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negative impact on our business and operations.

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Changes in customer behavior may have a negative impact on our business, financial

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A portion of our investment securities portfolio (35.1%) at December

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A portion of our investment securities portfolio (41.5%) at December 31,

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31, 2023 has been designated as available-for-sale pursuant

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2024 has been designated as available-for-sale pursuant

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The shares of our common stock are not a bank deposit and will not be insured or

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The shares of our common stock are not a bank deposit and will not be insured or guaranteed

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guaranteed by the FDIC or any other

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by the FDIC or any other

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December 31, 2023 was approximately 33,775 shares. Due to the limited

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December 31, 2024 was approximately 31,390 shares. Due to the limited trading

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trading activity of our common stock, relativity small

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activity of our common stock, relativity small

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trades may have a significant impact on the price of our common stock.

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trades may have a significant impact on the price of our common stock. Similarly,

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Similarly, significant sales of our common

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significant sales of our common stock, or the

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an unfavorable report, our stock

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an unfavorable report, our stock price would

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price would likely decline. If one or more of these analysts ceases to cover our Company

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likely decline. If one or more of analysts covering our common stock ceases to cover

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or fails to publish regular reports on us,

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our Company or fails to publish regular

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stock price or trading volume to decline.

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markets may cause our stock price or trading

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fixed-rate fully amortizing loans secured by single-

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fixed-rate fully amortizing loans secured by residential

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family residential real estate because the collateral securing these loans may

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real estate because the collateral securing these loans may not be sold as easily as residential

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estate. In addition, these loan types tend to involve larger loan balances

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real estate. In addition, these loan

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to a single borrower or groups of related borrowers and

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groups of related borrowers and are more susceptible to a risk of

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are more susceptible to a risk of loss during a downturn in the business cycle. These

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loss during a downturn in the business cycle. These loans also have historically

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risk than other loans for the following reasons:

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had greater credit risk than other loans for the

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December 31, 2023, commercial mortgage loans comprised approximately

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31, 2024, commercial mortgage loans comprised approximately 29.4%

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. Repayment is generally dependent upon the successful operation of the borrower’s

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. Repayment is generally dependent upon the successful operation

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2023, construction loans comprised approximately 7.2% of our total loan

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2024, construction loans comprised approximately 8.3% of our total loan portfolio.

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At December 31, 2023, HELOCs comprised approximately 7.7% of

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At December 31, 2024, HELOCs comprised approximately 8.3% of

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December 31, 2023, consumer loans comprised approximately 9.9%

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December 31, 2024, consumer loans comprised approximately 7.6%

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making up a majority of this portfolio at approximately 91.2% of the total

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making up a majority of this portfolio at approximately 87.9% of the total balance.

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compared to fixed-rate fully amortizing single-family real estate loans). Loan

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compared to fixed-rate fully amortizing single-family real estate loans).

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defaults would likely increase our loan losses and

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Loan defaults would likely increase our loan losses and

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At December 31, 2023, approximately 81.8% of our loans included real estate as a primary,

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At December 31, 2024, approximately 85.3% of our loans included real estate as a primary,

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loan portfolio was secured by commercial real estate and residential

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portfolio was secured by commercial real estate and

Showing the first 40 of 194 pairs. Open the source sections for the rest.

Rearranged current paragraphs (23)

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types tend to involve larger loan balances to a single borrower or

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be necessitated. In the event we are required to

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our remedies in order to protect our investment,

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on our investment or in an amount sufficient to

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could have a material adverse effect on our business, financial condition, and results

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However, such unrealized losses do not

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the sale of securities for liquidity purposes.

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our ability to fund future dividends may be

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foregoing could have a material adverse effect on our

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business, financial condition, and results of operations.

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have a material adverse effect on our business and,

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in turn, our financial condition and results of operations.

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have, a negative impact on our business and

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are inherently difficult to predict. Actual legal and other costs of resolving

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our results of operations and financial condition.

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deposits. The foregoing could have a material adverse effect

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on our financial condition and results of operations. Increased

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negatively impact our ability to compete, and require

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have a material adverse effect on our business, financial

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restrictions on the types of activities in which they

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financial condition, and results of operations.

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favor, they could have a material adverse effect

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business, financial condition and results of operations.
Rearranged previous paragraphs (18)

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not be sold as easily as single-family residential real

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loans also have historically had greater credit

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loans or otherwise pursue our remedies in

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equal to our projected return on our investment

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conditions, real estate values and other factors

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principal amount of the loans, and consequently,

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business, operations and financial condition could be materially and

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incident. The risk of a cybersecurity-

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material adverse effect on our business, financial condition,

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“cyber” insurance coverage, which would apply

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incident. Furthermore, because cyber-related incidents are inherently difficult

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on our business and, in turn, our financial

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natural disasters, global climate change, acts of terrorism, global

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impact on our business and operations.

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proceeding, depending on the remedy sought and granted, could

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or adapt our existing products and services. As

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of supervisory requirements and activities, including regulatory

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and materially affect our competitive position, business