Capital City Bank Group reported a net income attributable to common shareowners of $11.3 million, or $0.67 per diluted share, for Q3 2022, compared to $10.1 million, or $0.60 per diluted share, for Q3 2021. The increase was driven by loan growth and margin expansion.
Continued strong growth in net interest income of 18% - net interest margin percentage grew 44 bps to 3.31%.
Solid loan growth of 6.0% (end of period) and 8.6% (average).
Continued strong credit quality metrics – higher credit loss provision driven primarily by loan growth.
Noninterest expense decreased $0.7 million, or 1.7%, primarily due to lower mortgage and wealth commissions, partially offset by higher performance-based compensation.
As we plan for 2023, we are focused on strategies that will further diversify and grow our revenue base, both product and geography, and improve our efficiency.
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