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Mar 31, 2023
Capital City Bank Q1 2023 Earnings Report
Reported net income attributable to common shareowners for the first quarter of 2023.
Key Takeaways
Capital City Bank Group, Inc. reported a strong first quarter in 2023, with net income attributable to common shareowners of $15.0 million, or $0.88 per diluted share. The results were driven by strong growth in net interest income and loan growth, which led to an increase in tangible book value per share.
Net interest income grew by 6% with net interest margin percentage increase of 28 basis points to 4.04%.
Loan growth of $143 million, or 5.9% (average) and $112 million, or 4.4% (end of period) was achieved.
Noninterest income increased $1.3 million, or 6.1%, due to higher mortgage banking revenues.
Noninterest expense decreased $1.8 million, or 4.3%, due to no pension settlement expense.
Capital City Bank
Capital City Bank
Forward Guidance
While there remains uncertainty around the possibility of a near-term recession or economic slowing, Capital City Bank Group feels good about their positioning and optimistic about their full-year performance.