Capital City Bank Group (CCBG) Q2 2025 earnings summary

Executive summary

• Net income attributable to common shareowners was $15.0 million ($0.88 per diluted share) for Q2 2025, down from $16.9 million ($0.99) in Q1 2025, but up from $14.2 million ($0.83) in Q2 2024.

• For the first six months of 2025, net income was $31.9 million ($1.87 per diluted share), up from $26.7 million ($1.57) in the same period of 2024.

• Sustained revenue growth and credit strength highlighted the quarter, with a 3.9% increase in net interest income and 8 basis point expansion in net interest margin sequentially.

• Tangible book value per share rose 3.2% sequentially, and capital position further strengthened.

• Net interest income and noninterest income both increased year-over-year, while noninterest expense also rose, mainly due to higher compensation costs.

Financial highlights

• Tax-equivalent net interest income for Q2 2025 was $43.2 million, up from $41.6 million in Q1 2025 and $39.3 million in Q2 2024.

• Net interest margin for Q2 2025 was 4.30%, up 8 bps from Q1 2025 and 28 bps from Q2 2024.

• Noninterest income for Q2 2025 was $20.0 million, a 0.5% increase sequentially and 2.1% year-over-year.

• Noninterest expense for Q2 2025 was $42.5 million, up 9.9% from Q1 2025 and 5.2% from Q2 2024, mainly due to compensation and lower gains from asset sales.

• Efficiency ratio for Q2 2025 was 67.26%, compared to 62.93% in Q1 2025 and 68.61% in Q2 2024.

Outlook and guidance

• Management expects the annual effective tax rate to approximate 24% for 2025, absent discrete items or new tax credit investments.

• Capital expenditures are expected to be approximately $10 million over the next 12 months, funded with existing resources.

• Focus remains on executing strategies for consistent, profitable growth and maintaining a strong balance sheet.