Capital City Bank Group, Inc. Reports First Quarter 2025 Results

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$3.784 billion at March 31, 2025, reflecting an increase of $111.9 million, or 3.0$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].