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Jun 30, 2023
Capital City Bank Q2 2023 Earnings Report
Net income and tangible book value increased, driven by stable margin and credit quality, loan growth, and expected deposit balances.
Key Takeaways
Capital City Bank Group reported a solid second quarter with net income attributable to common shareowners of $14.6 million, or $0.85 per diluted share. The bank experienced loan growth and stable credit quality, though deposit balances declined slightly.
Tax-equivalent net interest income totaled $40.1 million, with net interest margin increasing to 4.05%.
Loan balances grew by $75.3 million on average and $30.1 million at the end of the period.
Deposit balances declined by $89.2 million on average and $16.9 million at the end of the period.
Noninterest income increased by $0.7 million due to higher wealth management, deposit, and bankcard fees.
Revenue by Segment
Forward Guidance
Capital City Bank Group anticipates that funding pressures will continue for the industry into the second half of the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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