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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).
Capital City Bank
Capital City Bank
Capital City Bank Revenue by Segment
Revenue by Segment
Wealth Management Fees Revenue
CapyFin.comMortgage Banking Revenues Revenue
CapyFin.com Forward Guidance
Absent discrete items or new tax credit investments, we expect our annual effective tax rate to approximate 23% for 2024.