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Sep 30, 2023
Capital City Bank Q3 2023 Earnings Report
Net income decreased due to higher deposit cost and lower overnight funds interest, but credit quality remained strong.
Key Takeaways
Capital City Bank Group reported a net income attributable to common shareowners of $13.2 million, or $0.78 per diluted share, for the third quarter of 2023. The results reflect a decrease compared to the previous quarter, influenced by factors such as higher deposit costs and lower overnight funds interest, though the company maintained solid credit quality metrics.
Net income attributable to common shareowners was $13.2 million, or $0.78 per diluted share.
Tax-equivalent net interest income totaled $39.2 million, reflecting higher deposit costs and lower overnight funds interest.
Noninterest income decreased by $2.7 million, primarily due to lower mortgage banking revenues.
Loan balances grew by $15.0 million, while deposit balances declined by $115.3 million.
Capital City Bank
Capital City Bank
Capital City Bank Revenue by Segment
Revenue by Segment
Deposit Fees Revenue
CapyFin.comBank Card Fees Revenue
CapyFin.comWealth Management Fees Revenue
CapyFin.comOther Noninterest Income Revenue
CapyFin.com Forward Guidance
Capital City Bank Group remains focused on client acquisition and exploring opportunities to foster stronger relationships and further enhance the overall client experience as they look toward 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income