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Jun 30, 2024
Capital City Bank Q2 2024 Earnings Report
Reported net income of $14.2 million and EPS of $0.83, driven by margin expansion and stable credit quality.
Key Takeaways
Capital City Bank Group reported a net income attributable to common shareowners of $14.2 million, or $0.83 per diluted share, for the second quarter of 2024. The results reflect margin expansion and stable credit quality.
Tax-equivalent net interest income totaled $39.3 million with net interest margin at 4.02%.
Net loan charge-offs were 18 basis points of average loans, and the allowance coverage ratio increased to 1.09%.
Noninterest income increased by $1.5 million, driven by higher mortgage banking revenues.
Tangible book value per diluted share increased by $0.72, or 3.4%.
Revenue by Segment
Forward Guidance
Absent discrete items, the company expects its annual effective tax rate to approximate 20-21% for 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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