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Dec 31, 2021
Capital City Bank Q4 2021 Earnings Report
Capital City Bank's earnings decreased due to lower SBA PPP loan income and a normalizing mortgage market, despite growth in fee-based businesses and pristine credit quality.
Key Takeaways
Capital City Bank Group reported a net income of $6.4 million, or $0.38 per diluted share, for Q4 2021, a decrease compared to the previous quarter and the same quarter of the prior year. The results were impacted by lower SBA PPP loan income and a normalizing mortgage market, although operating revenues excluding these items improved. Full year net income reached a record $33.4 million.
Net income for Q4 2021 was $6.4 million, or $0.38 per diluted share, compared to $7.7 million, or $0.46 per diluted share, for Q4 2020.
Operating revenues, excluding mortgage revenues and SBA PPP loan income, increased by 1.9%.
Noninterest expense increased by $0.5 million, primarily due to higher other real estate expense.
Average deposits grew by $101 million, driven by a seasonal increase in public fund inflows.
Revenue by Segment
Forward Guidance
Capital City Bank Group anticipates an annual effective tax rate of approximately 19%-20% in 2022, absent discrete items.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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