Capital City Bank Group, Inc. Reports Third Quarter 2024 Results
Capital City Bank Group (NASDAQ: CCBG) reported net income of $13.1 million, or $0.78 per diluted share, for Q3 2024. Key highlights include:
- Tax-equivalent net interest income increased to $40.3 million
- Net interest margin rose 10 basis points to 4.12%
- Noninterest income remained stable at $19.5 million
- Noninterest expense increased 6.1% to $42.9 million
- Loan balances decreased 0.3% to $2.68 billion
- Deposit balances decreased 0.8% to $3.58 billion
- Tangible book value per share grew 4.2% to $22.61
The company maintained stable credit quality with net loan charge-offs at 19 basis points. The allowance for credit losses increased to 1.11% of loans. Capital ratios remained strong, with a total risk-based capital ratio of 17.97%.
Capital City Bank Group (NASDAQ: CCBG) ha riportato un utile netto di 13,1 milioni di dollari, ovvero 0,78 dollari per azione diluita, per il terzo trimestre del 2024. I principali punti salienti includono:
- Il reddito da interessi netto equivalente alle tasse è aumentato a 40,3 milioni di dollari
- Il margine di interesse netto è salito di 10 punti base a 4,12%
- Il reddito non da interessi è rimasto stabile a 19,5 milioni di dollari
- Le spese non da interessi sono aumentate del 6,1% a 42,9 milioni di dollari
- I saldi dei prestiti sono diminuiti dello 0,3% a 2,68 miliardi di dollari
- I saldi dei depositi sono diminuiti dello 0,8% a 3,58 miliardi di dollari
- Il valore contabile tangibile per azione è cresciuto del 4,2% a 22,61 dollari
L'azienda ha mantenuto una qualità del credito stabile con perdite nette sui prestiti a 19 punti base. Il fondo per le perdite su crediti è aumentato all'1,11% dei prestiti. I rapporti patrimoniali sono rimasti solidi, con un rapporto di capitale totale basato sul rischio del 17,97%.
Capital City Bank Group (NASDAQ: CCBG) reportó un ingreso neto de 13.1 millones de dólares, o 0.78 dólares por acción diluida, para el tercer trimestre de 2024. Los aspectos más destacados incluyen:
- Los ingresos netos por intereses equivalentes a impuestos aumentaron a 40.3 millones de dólares
- El margen de interés neto subió 10 puntos básicos a 4.12%
- Los ingresos no por intereses se mantuvieron estables en 19.5 millones de dólares
- Los gastos no por intereses aumentaron un 6.1% a 42.9 millones de dólares
- Los saldos de préstamos disminuyeron un 0.3% a 2.68 mil millones de dólares
- Los saldos de depósitos disminuyeron un 0.8% a 3.58 mil millones de dólares
- El valor contable tangible por acción creció un 4.2% a 22.61 dólares
La empresa mantuvo una calidad crediticia estable con cargos netos por préstamos de 19 puntos básicos. La provisión para pérdidas crediticias aumentó al 1.11% de los préstamos. Los ratios de capital permanecieron sólidos, con un ratio de capital total basado en riesgos del 17.97%.
캐피탈 시티 뱅크 그룹 (NASDAQ: CCBG)은 2024년 3분기 동안 1310만 달러의 순이익, 즉 희석 주당 0.78달러를 보고했습니다. 주요 하이라이트는 다음과 같습니다:
- 세금 equivalente 순이자 수익이 4030만 달러로 증가했습니다.
- 순이자 마진이 10 베이시스 포인트 상승하여 4.12%에 도달했습니다.
- 비이자 수익은 1950만 달러로 ổ정되었습니다.
- 비이자 비용은 6.1% 증가하여 4290만 달러에 도달했습니다.
- 대출 잔액이 0.3% 감소하여 26억 8000만 달러가 되었습니다.
- 예치 잔액이 0.8% 감소하여 35억 8000만 달러가 되었습니다.
- 주당 실질 장부가치가 4.2% 증가하여 22.61달러가 되었습니다.
회사는 순 대출 충당금이 19 베이시스 포인트로 안정적인 신용 품질을 유지했습니다. 대출에 대한 손실 준비금은 1.11%로 증가했습니다. 자본 비율은 총 위험 기반 자본 비율이 17.97%로 강력하게 유지되었습니다.
Capital City Bank Group (NASDAQ: CCBG) a annoncé un bénéfice net de 13,1 millions de dollars, soit 0,78 dollar par action diluée, pour le 3e trimestre 2024. Les points saillants comprennent :
- Les revenus nets d'intérêts équivalents d'impôt ont augmenté à 40,3 millions de dollars
- La marge d'intérêts nets a augmenté de 10 points de base pour atteindre 4,12%
- Les revenus non liés aux intérêts sont restés stables à 19,5 millions de dollars
- Les dépenses non liées aux intérêts ont augmenté de 6,1% pour atteindre 42,9 millions de dollars
- Les soldes des prêts ont diminué de 0,3% pour atteindre 2,68 milliards de dollars
- Les soldes des dépôts ont diminué de 0,8% pour atteindre 3,58 milliards de dollars
- La valeur comptable tangible par action a augmenté de 4,2% pour atteindre 22,61 dollars
L'entreprise a maintenu une qualité de crédit stable avec des pertes sur prêts nets de 19 points de base. La provision pour pertes de crédit a augmenté à 1,11% des prêts. Les ratios de capital sont restés solides, avec un ratio de capital total basé sur les risques de 17,97%.
Capital City Bank Group (NASDAQ: CCBG) meldete einen Nettoinkommen von 13,1 Millionen Dollar, oder 0,78 Dollar pro verwässerter Aktie, für das 3. Quartal 2024. Zu den wichtigsten Höhepunkten gehören:
- Die steueräquivalenten Nettozinseinnahmen stiegen auf 40,3 Millionen Dollar
- Die Nettozinsspanne stieg um 10 Basispunkte auf 4,12%
- Die Nichtzinseinnahmen blieben stabil bei 19,5 Millionen Dollar
- Die Nichtzinsaufwendungen stiegen um 6,1% auf 42,9 Millionen Dollar
- Die Kreditbestände sanken um 0,3% auf 2,68 Milliarden Dollar
- Die Einlagenbestände sanken um 0,8% auf 3,58 Milliarden Dollar
- Der messbare Buchwert pro Aktie wuchs um 4,2% auf 22,61 Dollar
Das Unternehmen hielt die Kreditqualität stabil mit Nettoausfällen bei 19 Basispunkten. Die Rückstellung für Kreditverluste stieg auf 1,11% der Kredite. Die Kapitalquoten blieben stark, mit einer Gesamtkapitalquote von 17,97%.
- Net interest margin increased 10 basis points to 4.12%
- Tangible book value per share grew 4.2% to $22.61
- Stable credit quality with net loan charge-offs at 19 basis points
- Strong capital ratios with total risk-based capital ratio of 17.97%
- Net income decreased from $14.2 million in Q2 2024 to $13.1 million in Q3 2024
- Noninterest expense increased 6.1% to $42.9 million
- Loan balances decreased 0.3% to $2.68 billion
- Deposit balances decreased 0.8% to $3.58 billion
Insights
Capital City Bank Group's Q3 2024 results show a mixed performance with some positive trends:
- Net income of
$13.1 million ($0.78 per diluted share) decreased from Q2 2024 but increased year-over-year - Net interest margin improved to
4.12% , up 10 basis points from Q2 - Tangible book value per share grew
4.2% - Loan quality remained stable with net charge-offs at 19 basis points
- Noninterest income remained relatively flat, with mortgage banking revenues declining but wealth management fees increasing
However, there are some challenges:
- Loan balances decreased slightly, down
0.3% from Q2 - Deposit balances declined
0.8% , partly due to seasonal public fund outflows - Noninterest expenses increased
6.1% due to higher compensation and other costs
The bank maintains a strong capital position with a total risk-based capital ratio of
From a market perspective, CCBG's Q3 results present a nuanced picture:
- The
4.2% growth in tangible book value per share and9.5% dividend increase are positive signals for investors - The improved net interest margin of
4.12% demonstrates the bank's ability to manage interest rate challenges - Stable credit quality (19 bps net charge-offs) suggests prudent risk management
- The
0.3% decline in loans and0.8% drop in deposits, while small, could indicate growth challenges - The
6.1% increase in noninterest expenses may concern investors if it becomes a trend
The market cap of
TALLAHASSEE, Fla., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Capital City Bank Group, Inc. (NASDAQ: CCBG) today reported net income attributable to common shareowners of
QUARTER HIGHLIGHTS (3rd Quarter 2024 versus 2nd Quarter 2024)
Income Statement
- Tax-equivalent net interest income totaled
$40.3 million compared to$39.3 million for the prior quarter- Net interest margin increased 10 basis points to
4.12% (earning asset yield up 7 basis points and total deposit cost down 3 basis points to 92 basis points)
- Net interest margin increased 10 basis points to
- Stable credit quality metrics and credit loss provision - net loan charge-offs were 19 basis points (annualized) of average loans – allowance coverage ratio increased to
1.11% at September 30, 2024 - Noninterest income remained stable, decreasing
$0.1 million , or0.5% , and reflected a$0.4 million decline in mortgage banking revenues partially offset by a$0.3 million increase in wealth management fees - Noninterest expense increased
$2.5 million , or6.1% , due to increases in compensation (annual merit and health care) and other expenses (professional and processing). Other expense also included a$0.5 million expense related to a counterparty payment for our VISA Class B share swap
Balance Sheet
- Loan balances decreased
$33.2 million , or1.2% (average), and declined$7.1 million , or0.3% (end of period) - Deposit balances decreased by
$69.0 million , or1.9% (average), and decreased$29.5 million , or0.8% (end of period), reflecting the seasonal decline in our public fund balances - Tangible book value per diluted share (non-GAAP financial measure) increased
$0.91 , or4.2%
Commenting on the company's results, William G. Smith, Jr., Capital City Bank Group Chairman, President, and CEO, said, "I am pleased with what we accomplished in the quarter to enhance shareowner value –
Discussion of Operating Results
Net Interest Income/Net Interest Margin
Tax-equivalent net interest income for the third quarter of 2024 totaled
Compared to the third quarter of 2023, the
Our net interest margin for the third quarter of 2024 was
Provision for Credit Losses
We recorded a provision expense for credit losses of
Noninterest Income and Noninterest Expense
Noninterest income for the third quarter of 2024 totaled
For the first nine months of 2024, noninterest income totaled
Noninterest expense for the third quarter of 2024 totaled
For the first nine months of 2024, noninterest expense totaled
Income Taxes
We realized income tax expense of
Discussion of Financial Condition
Earning Assets
Average earning assets totaled
Average loans HFI decreased
Period end loans HFI decreased
Allowance for Credit Losses
At September 30, 2024, the allowance for credit losses for loans HFI totaled
Credit Quality
Nonperforming assets (nonaccrual loans and other real estate) totaled
Deposits
Average total deposits were
At September 30, 2024, total deposits were
Liquidity
The Bank maintained an average net overnight funds (i.e., deposits with banks plus FED funds sold less FED funds purchased) sold position of
At September 30, 2024, we had the ability to generate approximately
We also view our investment portfolio as a liquidity source as we have the option to pledge securities in our portfolio as collateral for borrowings or deposits, and/or to sell selected securities in our portfolio. Our portfolio consists of debt issued by the U.S. Treasury, U.S. governmental agencies, municipal governments, and corporate entities. At September 30, 2024, the weighted-average maturity and duration of our portfolio were 2.51 years and 2.17 years, respectively, and the available-for-sale portfolio had a net unrealized after-tax loss of
Capital
Shareowners’ equity was
At September 30, 2024, our total risk-based capital ratio was
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
FORWARD-LOOKING STATEMENTS
Forward-looking statements in this Press Release are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future 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. The following factors, among others, could cause our actual results to differ: our ability to successfully manage credit risk, interest rate risk, liquidity risk, and other risks inherent to our industry; the effects of changes in the level of checking or savings account deposits and the competition for deposits on our funding costs, net interest margin and ability to replace maturing deposits and advances; legislative or regulatory changes; adverse developments in the financial services industry; inflation, interest rate, market and monetary fluctuations; uncertainty in the pricing of residential mortgage loans that we sell, as well as competition for the mortgage servicing rights related to these loans; interest rate risk and price risk resulting from retaining mortgage servicing rights and the effects of higher interest rates on our loan origination volumes; changes in monetary and fiscal policies of the U.S. Government; the cost and effects of cybersecurity incidents or other failures, interruptions, or security breaches of our systems or those of our customers or third-party providers; the effects of fraud related to debit card products; the accuracy of our financial statement estimates and assumptions; changes in accounting principles, policies, practices or guidelines; the frequency and magnitude of foreclosure of our loans; the effects of our lack of a diversified loan portfolio; the strength of the local economies in which we operate; our ability to declare and pay dividends; structural changes in the markets for origination, sale and servicing of residential mortgages; our ability to retain key personnel; the effects of natural disasters (including hurricanes), widespread health emergencies (including pandemics), military conflict, terrorism, civil unrest or other geopolitical events; our ability to comply with the extensive laws and regulations to which we are subject; the impact of the restatement of our previously issued consolidated statements of cash flows; any deficiencies in the processes undertaken to effect these restatements and to identify and correct all errors in our historical financial statements that may require restatement; any inability to implement and maintain effective internal control over financial reporting and/or disclosure control or inability to remediate our existing material weaknesses in our internal controls deemed ineffective; the willingness of clients to accept third-party products and services rather than our products and services; technological changes; the outcomes of litigation or regulatory proceedings; negative publicity and the impact on our reputation; changes in consumer spending and saving habits; growth and profitability of our noninterest income; the limited trading activity of our common stock; the concentration of ownership of our common stock; anti-takeover provisions under federal and state law as well as our Articles of Incorporation and our Bylaws; other risks described from time to time in our filings with the Securities and Exchange Commission; and our ability to manage the risks involved in the foregoing. Additional factors can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as amended, and our other filings with the SEC, 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 the 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.
USE OF NON-GAAP FINANCIAL MEASURES
Unaudited
We present a tangible common equity ratio and a tangible book value per diluted share that removes the effect of goodwill and other intangibles resulting from merger and acquisition activity. We believe these measures are useful to investors because it allows investors to more easily compare our capital adequacy to other companies in the industry.
The GAAP to non-GAAP reconciliations are provided below.
(Dollars in Thousands, except per share data) | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | ||||||||||||
Shareowners' Equity (GAAP) | $ | 476,499 | $ | 460,999 | $ | 448,314 | $ | 440,625 | $ | 419,706 | |||||||
Less: Goodwill and Other Intangibles (GAAP) | 92,813 | 92,853 | 92,893 | 92,933 | 92,973 | ||||||||||||
Tangible Shareowners' Equity (non-GAAP) | A | 383,686 | 368,146 | 355,421 | 347,692 | 326,733 | |||||||||||
Total Assets (GAAP) | 4,225,316 | 4,225,695 | 4,259,922 | 4,304,477 | 4,138,287 | ||||||||||||
Less: Goodwill and Other Intangibles (GAAP) | 92,813 | 92,853 | 92,893 | 92,933 | 92,973 | ||||||||||||
Tangible Assets (non-GAAP) | B | $ | 4,132,503 | $ | 4,132,842 | $ | 4,167,029 | $ | 4,211,544 | $ | 4,045,314 | ||||||
Tangible Common Equity Ratio (non-GAAP) | A/B | 9.28% | 8.91% | 8.53% | 8.26% | 8.08% | |||||||||||
Actual Diluted Shares Outstanding (GAAP) | C | 16,980,686 | 16,970,228 | 16,947,204 | 17,000,758 | 16,997,886 | |||||||||||
Tangible Book Value per Diluted Share (non-GAAP) | A/C | $ | 22.60 | $ | 21.69 | $ | 20.97 | $ | 20.45 | $ | 19.22 | ||||||
CAPITAL CITY BANK GROUP, INC. | |||||||||||
EARNINGS HIGHLIGHTS | |||||||||||
Unaudited | |||||||||||
Three Months Ended | Nine Months Ended | ||||||||||
(Dollars in thousands, except per share data) | Sep 30, 2024 | Jun 30, 2024 | Sep 30, 2023 | Sep 30, 2024 | Sep 30, 2023 | ||||||
EARNINGS | |||||||||||
Net Income Attributable to Common Shareowners | $ | 13,118 | $ | 14,150 | $ | 12,655 | $ | 39,825 | $ | 40,539 | |
Diluted Net Income Per Share | $ | 0.78 | $ | 0.83 | $ | 0.74 | $ | 2.35 | $ | 2.38 | |
PERFORMANCE | |||||||||||
Return on Average Assets (annualized) | 1.24 | % | 1.33 | % | 1.19 | % | 1.26 | % | 1.26 | % | |
Return on Average Equity (annualized) | 10.87 | 12.23 | 11.74 | 11.39 | 13.00 | ||||||
Net Interest Margin | 4.12 | 4.02 | 4.03 | 4.05 | 4.04 | ||||||
Noninterest Income as % of Operating Revenue | 32.67 | 33.30 | 29.87 | 32.69 | 31.25 | ||||||
Efficiency Ratio | 71.81 | % | 68.61 | % | 69.88 | % | 70.49 | % | 67.07 | % | |
CAPITAL ADEQUACY | |||||||||||
Tier 1 Capital | 16.77 | % | 16.31 | % | 15.11 | % | 16.77 | % | 15.11 | % | |
Total Capital | 17.97 | 17.50 | 16.30 | 17.97 | 16.30 | ||||||
Leverage | 10.89 | 10.51 | 9.98 | 10.89 | 9.98 | ||||||
Common Equity Tier 1 | 14.88 | 14.44 | 13.26 | 14.88 | 13.26 | ||||||
Tangible Common Equity (1) | 9.28 | 8.91 | 8.08 | 9.28 | 8.08 | ||||||
Equity to Assets | 11.28 | % | 10.91 | % | 10.14 | % | 11.28 | % | 10.14 | % | |
ASSET QUALITY | |||||||||||
Allowance as % of Non-Performing Loans | 452.64 | % | 529.79 | % | 619.58 | % | 452.64 | % | 619.58 | % | |
Allowance as a % of Loans HFI | 1.11 | 1.09 | 1.08 | 1.11 | 1.08 | ||||||
Net Charge-Offs as % of Average Loans HFI | 0.19 | 0.18 | 0.17 | 0.20 | 0.16 | ||||||
Nonperforming Assets as % of Loans HFI and OREO | 0.27 | 0.23 | 0.17 | 0.27 | 0.17 | ||||||
Nonperforming Assets as % of Total Assets | 0.17 | % | 0.15 | % | 0.11 | % | 0.17 | % | 0.11 | % | |
STOCK PERFORMANCE | |||||||||||
High | $ | 36.67 | $ | 28.58 | $ | 33.44 | $ | 36.67 | $ | 36.86 | |
Low | 26.72 | 25.45 | 28.64 | 25.45 | 28.03 | ||||||
Close | $ | 35.29 | $ | 28.44 | $ | 29.83 | $ | 35.29 | $ | 29.83 | |
Average Daily Trading Volume | 37,151 | 29,861 | 26,774 | 32,720 | 33,936 | ||||||
(1) Tangible common equity ratio is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 6. | |||||||||||
CAPITAL CITY BANK GROUP, INC. | |||||||||||||||
CONSOLIDATED STATEMENT OF FINANCIAL CONDITION | |||||||||||||||
Unaudited | |||||||||||||||
2024 | 2023 | ||||||||||||||
(Dollars in thousands) | Third Quarter | Second Quarter | First Quarter | Fourth Quarter | Third Quarter | ||||||||||
ASSETS | |||||||||||||||
Cash and Due From Banks | $ | 83,431 | $ | 75,304 | $ | 73,642 | $ | 83,118 | $ | 72,379 | |||||
Funds Sold and Interest Bearing Deposits | 261,779 | 272,675 | 231,047 | 228,949 | 95,119 | ||||||||||
Total Cash and Cash Equivalents | 345,210 | 347,979 | 304,689 | 312,067 | 167,498 | ||||||||||
Investment Securities Available for Sale | 336,187 | 310,941 | 327,338 | 337,902 | 334,052 | ||||||||||
Investment Securities Held to Maturity | 561,480 | 582,984 | 603,386 | 625,022 | 632,076 | ||||||||||
Other Equity Securities | 6,976 | 2,537 | 3,445 | 3,450 | 3,585 | ||||||||||
Total Investment Securities | 904,643 | 896,462 | 934,169 | 966,374 | 969,713 | ||||||||||
Loans Held for Sale | 31,251 | 24,022 | 24,705 | 28,211 | 34,013 | ||||||||||
Loans Held for Investment ("HFI"): | |||||||||||||||
Commercial, Financial, & Agricultural | 194,625 | 204,990 | 218,298 | 225,190 | 221,704 | ||||||||||
Real Estate - Construction | 218,899 | 200,754 | 202,692 | 196,091 | 197,526 | ||||||||||
Real Estate - Commercial | 819,955 | 823,122 | 823,690 | 825,456 | 828,234 | ||||||||||
Real Estate - Residential | 1,023,485 | 1,012,541 | 1,012,791 | 1,001,257 | 966,512 | ||||||||||
Real Estate - Home Equity | 210,988 | 211,126 | 214,617 | 210,920 | 203,606 | ||||||||||
Consumer | 213,305 | 234,212 | 254,168 | 270,994 | 285,122 | ||||||||||
Other Loans | 461 | 2,286 | 3,789 | 2,962 | 1,401 | ||||||||||
Overdrafts | 1,378 | 1,192 | 1,127 | 1,048 | 1,076 | ||||||||||
Total Loans Held for Investment | 2,683,096 | 2,690,223 | 2,731,172 | 2,733,918 | 2,705,181 | ||||||||||
Allowance for Credit Losses | (29,836 | ) | (29,219 | ) | (29,329 | ) | (29,941 | ) | (29,083 | ) | |||||
Loans Held for Investment, Net | 2,653,260 | 2,661,004 | 2,701,843 | 2,703,977 | 2,676,098 | ||||||||||
Premises and Equipment, Net | 81,876 | 81,414 | 81,452 | 81,266 | 81,677 | ||||||||||
Goodwill and Other Intangibles | 92,813 | 92,853 | 92,893 | 92,933 | 92,973 | ||||||||||
Other Real Estate Owned | 650 | 650 | 1 | 1 | 1 | ||||||||||
Other Assets | 115,613 | 121,311 | 120,170 | 119,648 | 116,314 | ||||||||||
Total Other Assets | 290,952 | 296,228 | 294,516 | 293,848 | 290,965 | ||||||||||
Total Assets | $ | 4,225,316 | $ | 4,225,695 | $ | 4,259,922 | $ | 4,304,477 | $ | 4,138,287 | |||||
LIABILITIES | |||||||||||||||
Deposits: | |||||||||||||||
Noninterest Bearing Deposits | $ | 1,330,715 | $ | 1,343,606 | $ | 1,361,939 | $ | 1,377,934 | $ | 1,472,165 | |||||
NOW Accounts | 1,174,585 | 1,177,180 | 1,212,452 | 1,327,420 | 1,092,996 | ||||||||||
Money Market Accounts | 401,272 | 413,594 | 398,308 | 319,319 | 304,323 | ||||||||||
Savings Accounts | 507,604 | 514,560 | 530,782 | 547,634 | 571,003 | ||||||||||
Certificates of Deposit | 164,901 | 159,624 | 151,320 | 129,515 | 99,958 | ||||||||||
Total Deposits | 3,579,077 | 3,608,564 | 3,654,801 | 3,701,822 | 3,540,445 | ||||||||||
Repurchase Agreements | 29,339 | 22,463 | 23,477 | 26,957 | 22,910 | ||||||||||
Other Short-Term Borrowings | 7,929 | 3,307 | 8,409 | 8,384 | 18,786 | ||||||||||
Subordinated Notes Payable | 52,887 | 52,887 | 52,887 | 52,887 | 52,887 | ||||||||||
Other Long-Term Borrowings | 794 | 1,009 | 265 | 315 | 364 | ||||||||||
Other Liabilities | 71,974 | 69,987 | 65,181 | 66,080 | 75,585 | ||||||||||
Total Liabilities | 3,742,000 | 3,758,217 | 3,805,020 | 3,856,445 | 3,710,977 | ||||||||||
Temporary Equity | 6,817 | 6,479 | 6,588 | 7,407 | 7,604 | ||||||||||
SHAREOWNERS' EQUITY | |||||||||||||||
Common Stock | 169 | 169 | 169 | 170 | 170 | ||||||||||
Additional Paid-In Capital | 36,070 | 35,547 | 34,861 | 36,326 | 36,182 | ||||||||||
Retained Earnings | 454,342 | 445,959 | 435,364 | 426,275 | 418,030 | ||||||||||
Accumulated Other Comprehensive Loss, Net of Tax | (14,082 | ) | (20,676 | ) | (22,080 | ) | (22,146 | ) | (34,676 | ) | |||||
Total Shareowners' Equity | 476,499 | 460,999 | 448,314 | 440,625 | 419,706 | ||||||||||
Total Liabilities, Temporary Equity and Shareowners' Equity | $ | 4,225,316 | $ | 4,225,695 | $ | 4,259,922 | $ | 4,304,477 | $ | 4,138,287 | |||||
OTHER BALANCE SHEET DATA | |||||||||||||||
Earning Assets | $ | 3,880,769 | $ | 3,883,382 | $ | 3,921,093 | $ | 3,957,452 | $ | 3,804,026 | |||||
Interest Bearing Liabilities | 2,339,311 | 2,344,624 | 2,377,900 | 2,412,431 | 2,163,227 | ||||||||||
Book Value Per Diluted Share | $ | 28.06 | $ | 27.17 | $ | 26.45 | $ | 25.92 | $ | 24.69 | |||||
Tangible Book Value Per Diluted Share(1) | 22.60 | 21.69 | 20.97 | 20.45 | 19.22 | ||||||||||
Actual Basic Shares Outstanding | 16,944 | 16,942 | 16,929 | 16,950 | 16,958 | ||||||||||
Actual Diluted Shares Outstanding | 16,981 | 16,970 | 16,947 | 17,001 | 16,998 | ||||||||||
(1) Tangible book value per diluted share is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 6. | |||||||||||||||
CAPITAL CITY BANK GROUP, INC. | ||||||||||||||
CONSOLIDATED STATEMENT OF OPERATIONS | ||||||||||||||
Unaudited | ||||||||||||||
2024 | 2023 | Nine Months Ended September 30, | ||||||||||||
(Dollars in thousands, except per share data) | Third Quarter | Second Quarter | First Quarter | Fourth Quarter | Third Quarter | 2024 | 2023 | |||||||
INTEREST INCOME | ||||||||||||||
Loans, including Fees | $ | 41,659 | $ | 41,138 | $ | 40,683 | $ | 40,407 | $ | 39,344 | $ | 123,480 | $ | 111,845 |
Investment Securities | 4,155 | 4,004 | 4,244 | 4,392 | 4,561 | 12,403 | 14,300 | |||||||
Federal Funds Sold and Interest Bearing Deposits | 3,514 | 3,624 | 1,893 | 1,385 | 1,848 | 9,031 | 8,741 | |||||||
Total Interest Income | 49,328 | 48,766 | 46,820 | 46,184 | 45,753 | 144,914 | 134,886 | |||||||
INTEREST EXPENSE | ||||||||||||||
Deposits | 8,223 | 8,579 | 7,594 | 5,872 | 5,214 | 24,396 | 11,710 | |||||||
Repurchase Agreements | 221 | 217 | 201 | 199 | 190 | 639 | 314 | |||||||
Other Short-Term Borrowings | 52 | 68 | 39 | 310 | 440 | 159 | 1,228 | |||||||
Subordinated Notes Payable | 610 | 630 | 628 | 627 | 625 | 1,868 | 1,800 | |||||||
Other Long-Term Borrowings | 11 | 3 | 3 | 5 | 4 | 17 | 15 | |||||||
Total Interest Expense | 9,117 | 9,497 | 8,465 | 7,013 | 6,473 | 27,079 | 15,067 | |||||||
Net Interest Income | 40,211 | 39,269 | 38,355 | 39,171 | 39,280 | 117,835 | 119,819 | |||||||
Provision for Credit Losses | 1,206 | 1,204 | 920 | 2,025 | 2,393 | 3,330 | 7,689 | |||||||
Net Interest Income after Provision for Credit Losses | 39,005 | 38,065 | 37,435 | 37,146 | 36,887 | 114,505 | 112,130 | |||||||
NONINTEREST INCOME | ||||||||||||||
Deposit Fees | 5,512 | 5,377 | 5,250 | 5,304 | 5,456 | 16,139 | 16,021 | |||||||
Bank Card Fees | 3,624 | 3,766 | 3,620 | 3,713 | 3,684 | 11,010 | 11,205 | |||||||
Wealth Management Fees | 4,770 | 4,439 | 4,682 | 4,276 | 3,984 | 13,891 | 12,061 | |||||||
Mortgage Banking Revenues | 3,966 | 4,381 | 2,878 | 2,327 | 1,839 | 11,225 | 8,072 | |||||||
Other | 1,641 | 1,643 | 1,667 | 1,537 | 1,765 | 4,951 | 7,093 | |||||||
Total Noninterest Income | 19,513 | 19,606 | 18,097 | 17,157 | 16,728 | 57,216 | 54,452 | |||||||
NONINTEREST EXPENSE | ||||||||||||||
Compensation | 25,800 | 24,406 | 24,407 | 23,822 | 23,003 | 74,613 | 69,965 | |||||||
Occupancy, Net | 7,098 | 6,997 | 6,994 | 7,098 | 6,980 | 21,089 | 20,562 | |||||||
Other | 10,023 | 9,038 | 8,770 | 9,038 | 9,122 | 27,831 | 26,539 | |||||||
Total Noninterest Expense | 42,921 | 40,441 | 40,171 | 39,958 | 39,105 | 123,533 | 117,066 | |||||||
OPERATING PROFIT | 15,597 | 17,230 | 15,361 | 14,345 | 14,510 | 48,188 | 49,516 | |||||||
Income Tax Expense | 2,980 | 3,189 | 3,536 | 2,909 | 3,004 | 9,705 | 10,130 | |||||||
Net Income | 12,617 | 14,041 | 11,825 | 11,436 | 11,506 | 38,483 | 39,386 | |||||||
Pre-Tax Loss Attributable to Noncontrolling Interest | 501 | 109 | 732 | 284 | 1,149 | 1,342 | 1,153 | |||||||
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ | 13,118 | $ | 14,150 | $ | 12,557 | $ | 11,720 | $ | 12,655 | $ | 39,825 | $ | 40,539 |
PER COMMON SHARE | ||||||||||||||
Basic Net Income | $ | 0.77 | $ | 0.84 | $ | 0.74 | $ | 0.69 | $ | 0.75 | $ | 2.35 | $ | 2.38 |
Diluted Net Income | 0.78 | 0.83 | 0.74 | 0.70 | 0.74 | 2.35 | 2.38 | |||||||
Cash Dividend | $ | 0.23 | $ | 0.21 | $ | 0.21 | $ | 0.20 | $ | 0.20 | $ | 0.65 | $ | 0.56 |
AVERAGE SHARES | ||||||||||||||
Basic | 16,943 | 16,931 | 16,951 | 16,947 | 16,985 | 16,942 | 17,001 | |||||||
Diluted | 16,979 | 16,960 | 16,969 | 16,997 | 17,025 | 16,966 | 17,031 | |||||||
CAPITAL CITY BANK GROUP, INC. | ||||||||||||||||||||
ALLOWANCE FOR CREDIT LOSSES ("ACL") | ||||||||||||||||||||
AND CREDIT QUALITY | ||||||||||||||||||||
Unaudited | ||||||||||||||||||||
2024 | 2023 | Nine Months Ended September 30, | ||||||||||||||||||
(Dollars in thousands, except per share data) | Third Quarter | Second Quarter | First Quarter | Fourth Quarter | Third Quarter | 2024 | 2023 | |||||||||||||
ACL - HELD FOR INVESTMENT LOANS | ||||||||||||||||||||
Balance at Beginning of Period | $ | 29,219 | $ | 29,329 | $ | 29,941 | $ | 29,083 | $ | 28,243 | $ | 29,941 | $ | 25,068 | ||||||
Transfer from Other (Assets) Liabilities | - | - | (50 | ) | 66 | - | (50 | ) | - | |||||||||||
Provision for Credit Losses | 1,879 | 1,129 | 932 | 2,354 | 1,993 | 3,940 | 7,175 | |||||||||||||
Net Charge-Offs (Recoveries) | 1,262 | 1,239 | 1,494 | 1,562 | 1,153 | 3,995 | 3,160 | |||||||||||||
Balance at End of Period | $ | 29,836 | $ | 29,219 | $ | 29,329 | $ | 29,941 | $ | 29,083 | $ | 29,836 | $ | 29,083 | ||||||
As a % of Loans HFI | ||||||||||||||||||||
As a % of Nonperforming Loans | ||||||||||||||||||||
ACL - UNFUNDED COMMITMENTS | ||||||||||||||||||||
Balance at Beginning of Period | 3,139 | $ | 3,121 | $ | 3,191 | $ | 3,502 | $ | 3,120 | $ | 3,191 | $ | 2,989 | |||||||
Provision for Credit Losses | (617 | ) | 18 | (70 | ) | (311 | ) | 382 | (669 | ) | 513 | |||||||||
Balance at End of Period(1) | 2,522 | 3,139 | 3,121 | 3,191 | 3,502 | 2,522 | 3,502 | |||||||||||||
ACL - DEBT SECURITIES | ||||||||||||||||||||
Provision for Credit Losses | $ | (56 | ) | $ | 57 | $ | 58 | $ | (18 | ) | $ | 18 | $ | 59 | $ | 1 | ||||
CHARGE-OFFS | ||||||||||||||||||||
Commercial, Financial and Agricultural | $ | 331 | $ | 400 | $ | 282 | $ | 217 | $ | 76 | $ | 1,013 | $ | 294 | ||||||
Real Estate - Construction | - | - | - | - | - | - | - | |||||||||||||
Real Estate - Commercial | 3 | - | - | - | - | 3 | 120 | |||||||||||||
Real Estate - Residential | - | - | 17 | 79 | - | 17 | - | |||||||||||||
Real Estate - Home Equity | 23 | - | 76 | - | - | 99 | 39 | |||||||||||||
Consumer | 1,315 | 1,061 | 1,550 | 1,689 | 1,340 | 3,926 | 4,065 | |||||||||||||
Overdrafts | 611 | 571 | 638 | 602 | 659 | 1,820 | 2,187 | |||||||||||||
Total Charge-Offs | $ | 2,283 | $ | 2,032 | $ | 2,563 | $ | 2,587 | $ | 2,075 | $ | 6,878 | $ | 6,705 | ||||||
RECOVERIES | ||||||||||||||||||||
Commercial, Financial and Agricultural | $ | 176 | $ | 59 | $ | 41 | $ | 83 | $ | 28 | $ | 276 | $ | 194 | ||||||
Real Estate - Construction | - | - | - | - | - | - | 2 | |||||||||||||
Real Estate - Commercial | 5 | 19 | 204 | 16 | 17 | 228 | 36 | |||||||||||||
Real Estate - Residential | 88 | 23 | 37 | 34 | 30 | 148 | 219 | |||||||||||||
Real Estate - Home Equity | 59 | 37 | 24 | 17 | 53 | 120 | 209 | |||||||||||||
Consumer | 405 | 313 | 410 | 433 | 418 | 1,128 | 1,503 | |||||||||||||
Overdrafts | 288 | 342 | 353 | 442 | 376 | 983 | 1,382 | |||||||||||||
Total Recoveries | $ | 1,021 | $ | 793 | $ | 1,069 | $ | 1,025 | $ | 922 | $ | 2,883 | $ | 3,545 | ||||||
NET CHARGE-OFFS (RECOVERIES) | $ | 1,262 | $ | 1,239 | $ | 1,494 | $ | 1,562 | $ | 1,153 | $ | 3,995 | $ | 3,160 | ||||||
Net Charge-Offs as a % of Average Loans HFI(2) | ||||||||||||||||||||
CREDIT QUALITY | ||||||||||||||||||||
Nonaccruing Loans | $ | 6,592 | $ | 5,515 | $ | 6,798 | $ | 6,242 | $ | 4,694 | ||||||||||
Other Real Estate Owned | 650 | 650 | 1 | 1 | 1 | |||||||||||||||
Total Nonperforming Assets ("NPAs") | $ | 7,242 | $ | 6,165 | $ | 6,799 | $ | 6,243 | $ | 4,695 | ||||||||||
Past Due Loans 30-89 Days | $ | 9,388 | $ | 5,672 | $ | 5,392 | $ | 6,855 | $ | 5,577 | ||||||||||
Classified Loans | 25,501 | 25,566 | 22,305 | 22,203 | 21,812 | |||||||||||||||
Nonperforming Loans as a % of Loans HFI | ||||||||||||||||||||
NPAs as a % of Loans HFI and Other Real Estate | ||||||||||||||||||||
NPAs as a % of Total Assets | ||||||||||||||||||||
(1) Recorded in other liabilities | ||||||||||||||||||||
(2) Annualized | ||||||||||||||||||||
CAPITAL CITY BANK GROUP, INC. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AVERAGE BALANCE AND INTEREST RATES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unaudited | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third Quarter 2024 | Second Quarter 2024 | First Quarter 2024 | Fourth Quarter 2023 | Third Quarter 2023 | Sep 2024 YTD | Sep 2023 YTD | ||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Average Balance | Interest | Average Rate | Average Balance | Interest | Average Rate | Average Balance | Interest | Average Rate | Average Balance | Interest | Average Rate | Average Balance | Interest | Average Rate | Average Balance | Interest | Average Rate | Average Balance | Interest | Average Rate | |||||||||||||||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans Held for Sale | $ | 24,570 | $ | 720 | 7.49 | % | $ | 26,281 | $ | 517 | 5.26 | % | $ | 27,314 | $ | 563 | 5.99 | % | $ | 49,790 | 817 | 6.50 | % | $ | 62,768 | $ | 971 | 6.14 | % | $ | 26,050 | $ | 1,800 | 6.22 | % | $ | 57,438 | $ | 2,416 | 5.62 | % | |||||||||||||||
Loans Held for Investment(1) | 2,693,533 | 40,985 | 6.09 | 2,726,748 | 40,683 | 6.03 | 2,728,629 | 40,196 | 5.95 | 2,711,243 | 39,679 | 5.81 | 2,672,653 | 38,455 | 5.71 | 2,716,220 | 121,864 | 6.02 | 2,637,911 | 109,688 | 5.56 | |||||||||||||||||||||||||||||||||||
Investment Securities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Taxable Investment Securities | 907,610 | 4,148 | 1.82 | 918,989 | 3,998 | 1.74 | 952,328 | 4,239 | 1.78 | 962,322 | 4,389 | 1.81 | 1,002,547 | 4,549 | 1.80 | 926,241 | 12,385 | 1.78 | 1,034,825 | 14,265 | 1.84 | |||||||||||||||||||||||||||||||||||
Tax-Exempt Investment Securities(1) | 846 | 10 | 4.33 | 843 | 9 | 4.36 | 856 | 9 | 4.34 | 862 | 7 | 4.32 | 2,456 | 17 | 2.66 | 848 | 28 | 4.34 | 2,649 | 50 | 2.49 | |||||||||||||||||||||||||||||||||||
Total Investment Securities | 908,456 | 4,158 | 1.82 | 919,832 | 4,007 | 1.74 | 953,184 | 4,248 | 1.78 | 963,184 | 4,396 | 1.82 | 1,005,003 | 4,566 | 1.81 | 927,089 | 12,413 | 1.78 | 1,037,474 | 14,315 | 1.84 | |||||||||||||||||||||||||||||||||||
Federal Funds Sold and Interest Bearing Deposits | 256,855 | 3,514 | 5.44 | 262,419 | 3,624 | 5.56 | 140,488 | 1,893 | 5.42 | 99,763 | 1,385 | 5.51 | 136,556 | 1,848 | 5.37 | 220,056 | 9,031 | 5.48 | 237,987 | 8,741 | 4.91 | |||||||||||||||||||||||||||||||||||
Total Earning Assets | 3,883,414 | $ | 49,377 | 5.06 | % | 3,935,280 | $ | 48,831 | 4.99 | % | 3,849,615 | $ | 46,900 | 4.90 | % | 3,823,980 | $ | 46,277 | 4.80 | % | 3,876,980 | $ | 45,840 | 4.69 | % | 3,889,415 | $ | 145,108 | 4.98 | % | 3,970,810 | $ | 135,160 | 4.55 | % | |||||||||||||||||||||
Cash and Due From Banks | 70,994 | 74,803 | 75,763 | 76,681 | 75,941 | 73,843 | 75,483 | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses | (29,905 | ) | (29,564 | ) | (30,030 | ) | (29,998 | ) | (29,172 | ) | (29,833 | ) | (27,581 | ) | ||||||||||||||||||||||||||||||||||||||||||
Other Assets | 291,359 | 291,669 | 295,275 | 296,114 | 295,106 | 292,762 | 297,688 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | $ | 4,215,862 | $ | 4,272,188 | $ | 4,190,623 | $ | 4,166,777 | $ | 4,218,855 | $ | 4,226,187 | $ | 4,316,400 | ||||||||||||||||||||||||||||||||||||||||||
LIABILITIES: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest Bearing Deposits | $ | 1,332,305 | $ | 1,346,546 | $ | 1,344,188 | $ | 1,416,825 | $ | 1,474,574 | $ | 1,340,981 | $ | 1,538,268 | ||||||||||||||||||||||||||||||||||||||||||
NOW Accounts | 1,145,544 | $ | 4,087 | 1.42 | % | 1,207,643 | $ | 4,425 | 1.47 | % | 1,201,032 | $ | 4,497 | 1.51 | % | 1,138,461 | $ | 3,696 | 1.29 | % | 1,125,171 | $ | 3,489 | 1.23 | % | 1,184,596 | $ | 13,009 | 1.47 | % | 1,184,453 | $ | 8,679 | 0.98 | % | |||||||||||||||||||||
Money Market Accounts | 418,625 | 2,694 | 2.56 | 407,387 | 2,752 | 2.72 | 353,591 | 1,985 | 2.26 | 318,844 | 1,421 | 1.77 | 322,623 | 1,294 | 1.59 | 393,294 | 7,431 | 2.52 | 293,089 | 2,249 | 1.03 | |||||||||||||||||||||||||||||||||||
Savings Accounts | 512,098 | 180 | 0.14 | 519,374 | 176 | 0.14 | 539,374 | 188 | 0.14 | 557,579 | 202 | 0.14 | 579,245 | 200 | 0.14 | 523,573 | 544 | 0.14 | 603,643 | 396 | 0.09 | |||||||||||||||||||||||||||||||||||
Time Deposits | 163,462 | 1,262 | 3.07 | 160,078 | 1,226 | 3.08 | 138,328 | 924 | 2.69 | 116,797 | 553 | 1.88 | 95,203 | 231 | 0.96 | 153,991 | 3,412 | 2.96 | 90,970 | 386 | 0.57 | |||||||||||||||||||||||||||||||||||
Total Interest Bearing Deposits | 2,239,729 | 8,223 | 1.46 | 2,294,482 | 8,579 | 1.50 | 2,232,325 | 7,594 | 1.37 | 2,131,681 | 5,872 | 1.09 | 2,122,242 | 5,214 | 0.97 | 2,255,454 | 24,396 | 1.44 | 2,172,155 | 11,710 | 0.72 | |||||||||||||||||||||||||||||||||||
Total Deposits | 3,572,034 | 8,223 | 0.92 | 3,641,028 | 8,579 | 0.95 | 3,576,513 | 7,594 | 0.85 | 3,548,506 | 5,872 | 0.66 | 3,596,816 | 5,214 | 0.58 | 3,596,435 | 24,396 | 0.91 | 3,710,423 | 11,710 | 0.42 | |||||||||||||||||||||||||||||||||||
Repurchase Agreements | 27,126 | 221 | 3.24 | 26,999 | 217 | 3.24 | 25,725 | 201 | 3.14 | 26,831 | 199 | 2.94 | 25,356 | 190 | 2.98 | 26,619 | 639 | 3.21 | 17,588 | 314 | 2.39 | |||||||||||||||||||||||||||||||||||
Other Short-Term Borrowings | 2,673 | 52 | 7.63 | 6,592 | 68 | 4.16 | 3,758 | 39 | 4.16 | 16,906 | 310 | 7.29 | 24,306 | 440 | 7.17 | 4,334 | 159 | 4.88 | 26,586 | 1,228 | 6.17 | |||||||||||||||||||||||||||||||||||
Subordinated Notes Payable | 52,887 | 610 | 4.52 | 52,887 | 630 | 4.71 | 52,887 | 628 | 4.70 | 52,887 | 627 | 4.64 | 52,887 | 625 | 4.62 | 52,887 | 1,868 | 4.64 | 52,887 | 1,800 | 4.49 | |||||||||||||||||||||||||||||||||||
Other Long-Term Borrowings | 795 | 11 | 5.55 | 258 | 3 | 4.31 | 281 | 3 | 4.80 | 336 | 5 | 4.72 | 387 | 4 | 4.73 | 447 | 17 | 5.16 | 433 | 15 | 4.78 | |||||||||||||||||||||||||||||||||||
Total Interest Bearing Liabilities | 2,323,210 | $ | 9,117 | 1.56 | % | 2,381,218 | $ | 9,497 | 1.60 | % | 2,314,976 | $ | 8,465 | 1.47 | % | 2,228,641 | $ | 7,013 | 1.25 | % | 2,225,178 | $ | 6,473 | 1.15 | % | 2,339,741 | $ | 27,079 | 1.55 | % | 2,269,649 | $ | 15,067 | 0.89 | % | |||||||||||||||||||||
Other Liabilities | 73,767 | 72,634 | 68,295 | 78,772 | 83,099 | 71,574 | 82,877 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities | 3,729,282 | 3,800,398 | 3,727,459 | 3,724,238 | 3,782,851 | 3,752,296 | 3,890,794 | |||||||||||||||||||||||||||||||||||||||||||||||||
Temporary Equity | 6,443 | 6,493 | 7,150 | 7,423 | 8,424 | 6,694 | 8,719 | |||||||||||||||||||||||||||||||||||||||||||||||||
SHAREOWNERS' EQUITY: | 480,137 | 465,297 | 456,014 | 435,116 | 427,580 | 467,197 | 416,887 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities, Temporary Equity and Shareowners' Equity | $ | 4,215,862 | $ | 4,272,188 | $ | 4,190,623 | $ | 4,166,777 | $ | 4,218,855 | $ | 4,226,187 | $ | 4,316,400 | ||||||||||||||||||||||||||||||||||||||||||
Interest Rate Spread | $ | 40,260 | 3.49 | % | $ | 39,334 | 3.38 | % | $ | 38,435 | 3.43 | % | $ | 39,264 | 3.55 | % | $ | 39,367 | 3.54 | % | $ | 118,029 | 3.43 | % | $ | 120,093 | 3.66 | % | ||||||||||||||||||||||||||||
Interest Income and Rate Earned(1) | 49,377 | 5.06 | 48,831 | 4.99 | 46,900 | 4.90 | 46,277 | 4.80 | 45,840 | 4.69 | 145,108 | 4.98 | 135,160 | 4.55 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense and Rate Paid(2) | 9,117 | 0.93 | 9,497 | 0.97 | 8,465 | 0.88 | 7,013 | 0.73 | 6,473 | 0.66 | 27,079 | 0.93 | 15,067 | 0.51 | ||||||||||||||||||||||||||||||||||||||||||
Net Interest Margin | $ | 40,260 | 4.12 | % | $ | 39,334 | 4.02 | % | $ | 38,435 | 4.01 | % | $ | 39,264 | 4.07 | % | $ | 39,367 | 4.03 | % | $ | 118,029 | 4.05 | % | $ | 120,093 | 4.04 | % | ||||||||||||||||||||||||||||
(1) Interest and average rates are calculated on a tax-equivalent basis using a | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(2) Rate calculated based on average earning assets. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For Information Contact:
Jep Larkin
Executive Vice President and Chief Financial Officer
850.402. 8450
FAQ
What was Capital City Bank Group's (CCBG) net income for Q3 2024?
How did CCBG's net interest margin change in Q3 2024?
What was the change in CCBG's loan balances for Q3 2024?
How did CCBG's deposit balances change in Q3 2024?