Capital City Bank Reports Strong Q1 2025 Earnings

By Tamara Parker • Monday, April 21 15:15 • Permanent Link

Capital City Bank Group, Inc. has reported its first quarter 2025 results, showing an increase in net income attributable to common shareowners to $16.9 million, or $0.99 per diluted share. This is a significant improvement from the $13.1 million, or $0.77 per diluted share, reported for the fourth quarter of 2024, and the $12.6 million, or $0.74 per diluted share, reported for the first quarter of 2024.

The company's tax-equivalent net interest income for the first quarter of 2025 totaled $41.6 million, up from $41.2 million in the prior quarter, with the net interest margin increasing by five basis points to 4.22%. Noninterest income increased by $1.1 million, or 6.1%, primarily driven by higher mortgage banking revenues and wealth management fees. Noninterest expense decreased by $3.1 million, or 7.4%, mainly due to lower other expenses and gains from the sale of banking facilities.

On the balance sheet, loan balances decreased by $11.5 million, while deposit balances increased by $65.1 million, largely due to the seasonal increase in public fund balances. Tangible book value per diluted share, a non-GAAP financial measure, increased by $0.94, or 4.0%.

The company's average earning assets totaled $3.994 billion for the first quarter of 2025, an increase of $72.0 million, or 1.8%, over the fourth quarter of 2024. The allowance for credit losses for loans held for investment totaled $29.7 million at March 31, 2025, reflecting an increase over the previous quarter.

Nonperforming assets decreased to $4.4 million at March 31, 2025, compared to $6.7 million at December 31, 2024, and $6.8 million at March 31, 2024. The bank also saw an increase in average total deposits to $3.665 billion for the first quarter of 2025, up by $65.1 million from the previous quarter.

In terms of capital ratios, the total risk-based capital ratio was reported at 19.20% at March 31, 2025, compared to 18.64% at December 31, 2024, and 16.84% at March 31, 2024. The common equity tier 1 capital ratio and leverage ratio also showed improvements over the same periods.

As a result of these announcements, the company's shares have moved 4.0% on the market, and are now trading at a price of $35.66. If you want to know more, read the company's complete 8-K report here.

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