Capital City Bank ( (CCBG) ) has released its Q1 earnings. Here is a breakdown of the information Capital City Bank presented to its investors.
Capital City Bank Group, Inc. is a financial holding company headquartered in Florida, providing a wide range of banking services across Florida, Georgia, and Alabama through its subsidiary, Capital City Bank.
In its first quarter of 2025, Capital City Bank Group reported a net income of $16.9 million, or $0.99 per diluted share, marking an increase from the previous quarter and the same period last year. The company highlighted strong core fundamentals, strategic execution, and a significant gain from the sale of its operations center building.
Key financial metrics showed a slight increase in tax-equivalent net interest income to $41.6 million, with a net interest margin improvement to 4.22%. Noninterest income rose by 6.1%, driven by increases in mortgage banking revenues and wealth management fees. Noninterest expenses decreased by 7.4%, primarily due to gains from property sales.
The company experienced a 1.8% increase in average deposit balances and a 3.0% rise at the end of the period, largely attributed to seasonal public fund balances. Despite a decrease in average loan balances, the allowance for credit losses improved, reflecting better credit quality metrics.
Looking ahead, Capital City Bank Group remains focused on maintaining its strong balance sheet and revenue diversification, which it believes will provide flexibility in navigating market uncertainties.