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Mar 31, 2024
Capital City Bank Q1 2024 Earnings Report
Reported solid earnings and capital growth amidst a challenging operating environment.
Key Takeaways
Capital City Bank Group, Inc. reported a net income attributable to common shareowners of $12.6 million, or $0.74 per diluted share, for the first quarter of 2024. Credit quality remained stable, average deposits grew, and the dividend increased 5 percent.
Tax-equivalent net interest income totaled $38.4 million.
Noninterest income increased $0.9 million, or 5.5%, due to higher mortgage banking revenues and wealth management fees.
Loan balances grew $17.4 million, or 0.6% (average).
Deposit balances increased by $28.0 million, or 0.8% (average).
Revenue by Segment
Forward Guidance
Absent discrete items or new tax credit investments, we expect our annual effective tax rate to approximate 23% for 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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