Financial Performance - Net income attributable to common shareowners for Q1 2025 was $16.9 million, or $0.99 per diluted share, up from $13.1 million, or $0.77 per diluted share in Q4 2024[1] - Net income attributable to common shareholders for the three months ended March 31, 2025, was $16.86 million, compared to $13.09 million for the previous quarter and $12.56 million for the same period last year[31] - The diluted net income per share rose to $0.99, up from $0.77 in the previous quarter and $0.74 a year ago[31] - Basic net income per share increased to $0.99 in Q1 2025, compared to $0.77 in Q4 2024, a rise of 28.57%[35] - The return on average assets (annualized) improved to 1.58% from 1.22% in the previous quarter and 1.21% a year ago[31] Income and Expenses - Tax-equivalent net interest income for Q1 2025 totaled $41.6 million, an increase of $0.4 million from Q4 2024, driven by higher investment securities interest and lower deposit interest expense[3] - Noninterest income increased by $1.1 million, or 6.1%, in Q1 2025, primarily due to a rise in mortgage banking revenues and wealth management fees[7] - Noninterest expense decreased by $3.1 million, or 7.4%, in Q1 2025, mainly due to a reduction in other expenses related to the sale of banking facilities[8] - Total noninterest expense decreased to $38,701 thousand in Q1 2025 from $41,782 thousand in Q4 2024, a reduction of 7.4%[35] Assets and Deposits - Average total deposits for Q1 2025 were $3.665 billion, an increase of $65.1 million, or 1.8%, from Q4 2024[16] - Total deposits at March 31, 2025, were $3.784 billion, an increase of $111.9 million, or 3.0%, from December 31, 2024[17] - Total assets increased to approximately $4.46 billion as of March 31, 2025, from $4.32 billion at December 31, 2024[29] - Total assets increased to $4,461,233 thousand in Q1 2025, up from $4,324,932 thousand in Q4 2024, representing a growth of 3.15%[33] - Total deposits rose to $3,783,890 thousand in Q1 2025, compared to $3,671,977 thousand in Q4 2024, marking an increase of 3.04%[33] Credit Quality - The allowance for credit losses for loans held for investment totaled $29.7 million at March 31, 2025, reflecting higher loan balances and loss rates[14] - Nonperforming assets totaled $4.4 million at March 31, 2025, a decrease from $6.7 million at December 31, 2024[15] - The allowance as a percentage of non-performing loans was 692.10%, significantly higher than 464.14% in the previous quarter and 431.46% a year ago[31] - Nonperforming loans as a percentage of loans held for investment decreased to 0.16% in Q1 2025 from 0.24% in Q4 2024[36] - Net charge-offs for Q1 2025 were $600,000, a significant decrease of 64.10% compared to $1,670,000 in Q4 2024[36] Capital Ratios - Shareowners' equity increased to $512.6 million at March 31, 2025, up from $495.3 million at December 31, 2024, driven by net income and other factors[21] - As of March 31, 2025, the total risk-based capital ratio was 19.20%, up from 18.64% at December 31, 2024, and 16.84% at March 31, 2024[23] - The common equity tier 1 capital ratio increased to 16.08% from 15.54% at December 31, 2024, and 13.82% at March 31, 2024[31] - The tangible common equity ratio (non-GAAP) was 9.61% as of March 31, 2025, compared to 9.51% at December 31, 2024, and 8.53% at March 31, 2024[29] Efficiency Metrics - The efficiency ratio improved to 62.93% from 69.74% in the previous quarter and 71.06% a year ago[31] - Net interest income after provision for credit losses reached $40,779 thousand in Q1 2025, compared to $40,402 thousand in Q4 2024, an increase of 0.93%[35]

Core Viewpoint - Capital City Bank Group, Inc. reported a strong financial performance for the first quarter of 2025, with net income of $16.9 million, reflecting growth in revenues, deposit balances, and credit quality metrics compared to previous quarters [1][2]. Income Statement - Net income attributable to common shareowners for Q1 2025 was $16.9 million, or $0.99 per diluted share, compared to $13.1 million ($0.77 per diluted share) in Q4 2024 and $12.6 million ($0.74 per diluted share) in Q1 2024 [1][28]. - Noninterest income increased by $1.1 million, or 6.1%, to $19.9 million in Q1 2025, driven by higher mortgage banking revenues and wealth management fees [6][10]. - Noninterest expense decreased by $3.1 million, or 7.4%, to $38.7 million in Q1 2025, primarily due to a reduction in other expenses [7][10]. Balance Sheet - Average earning assets totaled $3.994 billion in Q1 2025, an increase of $72 million, or 1.8%, from Q4 2024 [9]. - Total deposits were $3.784 billion at March 31, 2025, reflecting an increase of $111.9 million, or 3.0%, from December 31, 2024 [16][30]. - Loans held for investment (HFI) decreased by $11.5 million, or 0.4%, from Q4 2024, with notable declines in construction and commercial loans [11][12]. Credit Quality - The allowance for credit losses for loans HFI was $29.7 million at March 31, 2025, compared to $29.3 million at December 31, 2024 [13]. - Nonperforming assets totaled $4.4 million at March 31, 2025, down from $6.7 million at December 31, 2024 [14]. - Net loan charge-offs were 0.09% of average loans for Q1 2025, a decrease from 0.25% in Q4 2024 [10][28]. Capital Adequacy - Shareowners' equity increased to $512.6 million at March 31, 2025, compared to $495.3 million at December 31, 2024 [20]. - The total risk-based capital ratio was 19.20% at March 31, 2025, up from 18.64% at December 31, 2024 [21]. - The tangible common equity ratio was 9.61% at March 31, 2025, compared to 9.51% at December 31, 2024 [21][29].

Group 1 - Capital City Bank Group, Inc. will release its first quarter 2025 results on April 21, 2025, before the market opens [1] - Investors can access the earnings results on the Company's Investor Relations website [1] - Capital City Bank Group, Inc. is one of the largest publicly traded financial holding companies in Florida with approximately $4.5 billion in assets [2] Group 2 - The company offers a full range of banking services including traditional deposit and credit services, mortgage banking, asset management, and financial advisory services [2] - Capital City Bank, the bank subsidiary, was founded in 1895 and operates 62 banking offices and 105 ATMs/ITMs across Florida, Georgia, and Alabama [2] - For further inquiries, the Executive Vice President and Chief Financial Officer, Jep Larkin, can be contacted at 850.402.8450 [3]

Company Overview - Capital City Bank (CCBG) is headquartered in Tallahassee and operates in the Finance sector [3] - The stock has experienced a price change of -3.63% since the beginning of the year [3] Dividend Information - CCBG is currently paying a dividend of $0.24 per share, resulting in a dividend yield of 2.72%, which is higher than the Banks - Southeast industry's yield of 2.33% and the S&P 500's yield of 1.61% [3] - The annualized dividend of $0.96 represents a 9.1% increase from the previous year [4] - Over the last 5 years, CCBG has increased its dividend 5 times, with an average annual increase of 11.35% [4] - The current payout ratio is 29%, indicating that the company paid out 29% of its trailing 12-month EPS as dividends [4] Earnings Growth - CCBG is expected to see earnings expansion this fiscal year, with the Zacks Consensus Estimate for 2025 at $3.14 per share, reflecting a year-over-year earnings growth rate of 0.64% [5] Investment Opportunity - CCBG is positioned as a compelling investment opportunity due to its attractive dividend and a strong Zacks Rank of 2 (Buy) [7]

Core Points - Capital City Bank has opened a new banking office in Panama City Beach, enhancing its commitment to Bay County and expanding its service locations in the region [1][2] - The new West Bay Office is equipped with advanced virtual teller technology and a Smart ATM, providing convenient banking services to customers [3] - Capital City Bank Group, Inc. has approximately $4.3 billion in assets and operates 63 banking offices and 104 ATMs/ITMs across Florida, Georgia, and Alabama [5] Company Overview - Capital City Bank, founded in 1895 and headquartered in Tallahassee, Florida, offers a full range of consumer, wealth management, business, and commercial banking services [4] - The bank has been recognized multiple times as the best financial institution in various communities and has received accolades for being one of the best companies to work for in Florida [4] - The St. Joe Company, a partner in the new office's location, is a diversified real estate development and asset management company with significant land-use entitlements in Northwest Florida [6]

Financial Performance - CCBG's consolidated assets and net income are primarily derived from its wholly owned banking subsidiary, CCB, which accounted for nearly 100% of consolidated assets and net income as of December 31, 2024[24]. - For the year ended 2024, revenues from Banking Services and Wealth Management Services were approximately 92.6% and 7.4% of total revenue, respectively, compared to 93.5% and 90.3% in 2023 and 2022[25]. - The company recorded 9,542 community service hours in 2024, compared to 10,526 hours in 2023 and 9,508 hours in 2022[64]. - The company declared four quarterly cash dividends in 2024, but future declarations depend on sufficient profits and capital requirements[173]. - In 2024, the company collected approximately $9.5 million in net consumer overdraft transaction fees, which constitutes a significant portion of its noninterest income[189]. Market Position and Share - CCBG's market share in Gadsden County was 81.8% as of June 30, 2024, while in Bradford County it was 34.3%[45]. - The bank's primary market area includes 21 counties in Florida, six counties in Georgia, and one county in Alabama, indicating a broad geographic footprint[42]. - As of December 31, 2024, commercial mortgage loans comprised approximately 29.4% of the total loan portfolio, while commercial loans made up about 7.1%[152]. - The concentration of loans in Florida and Georgia subjects the company to higher risks of loss during economic downturns or natural disasters, potentially leading to increased delinquencies and foreclosures[155]. Employee and Workplace Culture - The bank had approximately 940 full-time associates and 29 part-time associates as of December 31, 2024, with 68% of the workforce being female[51]. - CCBG has been recognized as one of the "Best Companies to Work for in Florida" for 13 consecutive years and a "Best Bank to Work For" for 12 consecutive years[52]. - The average tenure of associates at CCBG is approximately 9.4 years, indicating strong employee retention[53]. - The company offers a voluntary wellness program, StarFit, to promote associates' well-being[62]. - The company supports a culture of diversity and inclusion, with initiatives led by the Chief Inclusion Officer and the Inclusion Council[61]. Regulatory Environment - Capital City Bank is subject to supervision and regulation by the Florida OFR, which oversees all areas of operations including capital adequacy requirements and payment of dividends[87]. - The Federal Reserve requires a capital conservation buffer of at least 2.5% of risk-weighted assets to avoid restrictions on capital distributions[93]. - The CRA regulations encourage banks to meet the credit needs of low- and moderate-income neighborhoods, with a satisfactory rating impacting branch establishment and mergers[99]. - The compliance date for significant amendments to CRA regulations is January 1, 2026, with data reporting requirements applicable from January 1, 2027[100]. - The company is subject to extensive regulation, which could impose limitations on business activities, including dividends and mergers[178]. Risk Factors - Inflationary pressures remained elevated throughout 2023 and 2024, impacting the ability of business customers to repay loans, which could adversely affect the company's financial condition[141]. - The company may incur significant costs associated with the ownership of real property due to foreclosures, which could reduce net income[161]. - Cybersecurity incidents pose a significant risk, potentially leading to unauthorized access to sensitive information and operational disruptions, which could materially affect the company's business[196]. - The company faces operational risks from technological failures, human errors, and external events, which could adversely impact its financial condition and results of operations[192]. - The company is exposed to risks from severe weather, natural disasters, and global events that could disrupt operations and negatively impact financial performance[203]. Investment and Sustainability - The market value of trust assets under discretionary management exceeded $1.234 billion, with total assets under administration exceeding $1.244 billion as of December 31, 2024[26]. - The company has committed to a $7 million investment in SOLCAP 2022-1, LLC, a $7 million investment in SOLCAP 2023-1, LLC, and a $9.1 million investment in SOLCAP 2024-1, LLC for solar tax equity investments[69]. - The solar projects are expected to produce approximately 31,778,716 kWh of clean power annually, equivalent to removing approximately 21,350 metric tons of greenhouse gas emissions[69]. - The company has implemented company-wide recycling programs and converted exterior lighting to LED at 58 offices to reduce its carbon footprint[68]. Competition and Market Challenges - The company competes with larger financial institutions and non-bank providers, which may limit its market share and net income[209]. - Increased competition in the current higher interest-rate environment could adversely affect the company's liquidity due to public fund deposit volatility[167]. - The rapid evolution of technology in the financial services industry requires substantial investment to adapt products and services, posing risks to competitiveness[213]. - The company's ability to develop and introduce new products and services in a timely manner is critical for maintaining market acceptance and profitability[214]. Financial Health and Capital Management - The allowance for credit losses for loans held for investment was $29.3 million, representing approximately 1.10% of total loans held for investment[159]. - The company may need to raise additional capital in the future, which could be challenging due to market conditions and financial institution confidence[170]. - Increased regulatory capital requirements may lower the company's return on equity and could necessitate actions such as liquidating assets or increasing borrowings[184]. - The fair value of the investment securities portfolio, with 41.5% designated as available-for-sale, may decline, causing a reduction in shareholders' equity[144].

Core Points - Capital City Bank Group, Inc. declared a quarterly cash dividend of $0.24 per share, marking a 4.35% increase from the previous quarter's dividend of $0.23 per share [1] - The annualized dividend rate is $0.96 per common share, with a dividend yield of 2.63% based on a closing stock price of $36.44 on February 26, 2025 [1] - The dividend is payable on March 24, 2025, to shareholders of record as of March 10, 2025 [1] Company Overview - Capital City Bank Group, Inc. is one of the largest publicly traded financial holding companies in Florida, with approximately $4.3 billion in assets [2] - The company offers a comprehensive range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust services, merchant services, bankcards, securities brokerage, and financial advisory services [2] - Founded in 1895, Capital City Bank operates 63 banking offices and 104 ATMs/ITMs across Florida, Georgia, and Alabama [2]

Group 1 - Capital City Bank (CCBG) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][2] - The Zacks rating system is based on changes in earnings estimates, making it a useful tool for investors to gauge stock performance [2][5] - Rising earnings estimates indicate an improvement in Capital City Bank's underlying business, which is expected to positively affect its stock price [4][9] Group 2 - The Zacks Consensus Estimate for Capital City Bank has increased by 2.6% over the past three months, with an expected earnings per share of $3.14 for the fiscal year ending December 2025, reflecting a year-over-year change of 0.6% [7] - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [6][8] - The upgrade to Zacks Rank 2 places Capital City Bank in the top 20% of Zacks-covered stocks, indicating its strong potential for market-beating returns in the near term [9]

Company Overview - Capital City Bank (CCBG) is based in Tallahassee and operates in the Finance sector, with a year-to-date share price change of -0.57% [3] - The company currently pays a dividend of $0.23 per share, resulting in a dividend yield of 2.52%, which is higher than the Banks - Southeast industry's yield of 2.26% and the S&P 500's yield of 1.54% [3] Dividend Performance - The current annualized dividend of $0.92 represents a 4.5% increase from the previous year [4] - Over the last five years, CCBG has increased its dividend five times, achieving an average annual increase of 11.35% [4] - The company's current payout ratio is 29%, indicating that it paid out 29% of its trailing 12-month earnings per share as dividends [4] Earnings Growth Expectations - For the fiscal year, CCBG anticipates solid earnings growth, with the Zacks Consensus Estimate for 2025 projected at $3.14 per share, reflecting a year-over-year earnings growth rate of 0.64% [5] Investment Appeal - CCBG is viewed as a compelling investment opportunity due to its attractive dividend and a strong Zacks Rank of 2 (Buy) [7] - Dividends are favored by investors as they enhance stock investing profits, reduce overall portfolio risk, and offer tax advantages [6]

Core Insights - Capital City Bank has created a new executive role of chief banking officer to enhance strategic growth and operational cohesion across lending and deposit functions [1][2][7] - Ramsay Sims has been appointed to this role, bringing extensive experience in financial services and leadership [1][3] - William Smith has been promoted to chief lending officer, succeeding Sims and will focus on driving the bank's lending strategies [2][4] Leadership Changes - Ramsay Sims, previously chief lending officer, has been promoted to chief banking officer, overseeing both lending and deposit functions [1][7] - William Smith, with a diverse background in banking, has been appointed as chief lending officer, emphasizing his expertise in various banking specialties [4][8] Strategic Focus - The new leadership structure aims to streamline the strategic direction of lending and deposit areas, enhancing efficiency and alignment with growth objectives [2][3] - The changes are expected to provide a solid foundation for continued progress and future growth for Capital City Bank [3] Company Overview - Capital City Bank Group, Inc. is a publicly traded financial holding company headquartered in Florida, with approximately $4.3 billion in assets [5] - The bank offers a full range of services, including traditional deposit and credit services, mortgage banking, asset management, and financial advisory services [5]