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Jun 30, 2021
Capital City Bank Q2 2021 Earnings Report
Reported net income of $7.4 million, with diluted earnings per share of $0.44.
Key Takeaways
Capital City Bank Group reported a net income of $7.4 million for Q2 2021, a decrease compared to both the previous quarter and the same quarter last year. The results included a $2.0 million partial pension settlement charge. Despite challenges, the bank saw net interest income growth and strong loan growth, while credit quality metrics remained strong.
Net interest income grew 6% sequentially, driven by strong loan growth and higher SBA PPP fees.
Period-end loan balances (net of SBA PPP balances) grew by $74 million, or 4.0% sequentially.
Strong credit quality metrics and a net loan loss recovery drove a negative credit loss provision of $0.6 million.
Average deposit balances grew $148 million, or 4.6% sequentially, reflecting additional stimulus inflows and strong core deposit growth.
Revenue by Segment
Forward Guidance
The company is closely monitoring conditions, including the rising case count of COVID-19 in some of its communities, and will adjust its return to work date for all associates as necessary depending on changing conditions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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