Capital City Bank Group in Tallahassee, Fla., will take over full ownership of Capital City Home Loans.
The $4.2 billion-asset Capital City, which already owns 51% of the mortgage lender, said it will buy the remaining 49% interest on Jan. 1. The purchase price will be based on the capital account balances of the mortgage lender’s members as of Dec. 31.
Capital City Home Loans has 27 offices across the Southeast. The bank bought is majority stake in 2020.