The Special Assets department is an extension of the Collections function within Credit Administration and is divided into two general areas: 

1. Workouts and Foreclosures 
2. Other Real Estate (ORE). ORE refers to real property owned by the bank which is not directly related to our business.

The primary responsibilities of Special Assets are the management and workouts of problem loans and the management and liquidation of ORE owned by Capital City Bank. ORE is most frequently a result of foreclosure on real property as a result of default by the borrower who used the property as collateral for the loan. One of the largest responsibilities of the Special Assets department is the sale of the asset and property management.

The term workout is used to describe the process that Special Assets undergoes to work with the clients to prevent the foreclosure process. If a client has the willingness and ability to bring a loan to current status, Special Assets strives to assist the client to put the loan repayment back on track. Working with the client to make the loan current is the optimal result of a workout. However, when this is not possible, and the client has defaulted on the loan without bringing the loan back to current status, the next step is the process of foreclosure.

When a loan reaches foreclosure status, an attorney acting on behalf of Capital City Bank handles the foreclosure filing. The intended outcome will be the Bank gaining official ownership of the property.

Once Capital City Bank recovers the property, it is no longer a loan and is now considered an asset that must be taken care of and sold. The Special Assets department is responsible for the inspection, maintenance, and marketing of the property as well as the eventual sale of the property.

Collectively, this is usually the most time-intensive, costly, and laborious part of property ownership for Capital City Bank. The current and back property taxes have to be paid and insurance must be obtained. The structures have to be re-keyed, cleaned, and repaired as needed. Utilities must also be turned on prior to marketing and sale. Ongoing lawn maintenance and associated home-owner fees are handled by the Bank until the property is sold.

Properties handled by Special Assets are listed and advertised for sale on BankBargains.net. The website, which is regularly updated, contains a searchable database of the properties currently for sale.