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Sep 30, 2024
Capital City Bank Q3 2024 Earnings Report
Net income of $13.1 million and EPS of $0.78 per diluted share were reported.
Key Takeaways
Capital City Bank Group reported a net income attributable to common shareowners of $13.1 million, or $0.78 per diluted share, for the third quarter of 2024. This compares to $14.2 million, or $0.83 per diluted share, for the second quarter of 2024, and $12.7 million, or $0.74 per diluted share, for the third quarter of 2023. The results were driven by margin expansion, stable credit, and core deposit growth.
Tax-equivalent net interest income totaled $40.3 million; Net interest margin increased 10 basis points to 4.12%.
Credit quality metrics were stable; allowance coverage ratio increased to 1.11% at September 30, 2024.
Noninterest income remained stable, decreasing $0.1 million, or 0.5%.
Noninterest expense increased $2.5 million, or 6.1%.
Revenue by Segment
Forward Guidance
Management remains optimistic about the full year financial performance and beyond.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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