Capital City Bank Group (CCBG) Q4 2024 earnings summary

Executive summary

• Achieved record earnings in 2024, with a five-year average annual EPS growth of ~13%.

• Tangible book value per share grew 16% in 2024, averaging 11% annual growth over five years.

• Dividend per share increased by ~16% in 2024, with a five-year average annual growth of 13%.

• Maintains a deposit-centric franchise with a balanced consumer and commercial deposit mix and strong presence in Florida and Georgia.

Financial highlights

• 4Q24 net interest income was $41.1M, up from $40.2M in 3Q24; net interest margin rose to 4.17%.

• Diluted EPS for 4Q24 was $0.77, flat sequentially and up from $0.70 in 4Q23.

• Return on average assets was 1.22% in 4Q24; return on average equity was 10.60%.

• Total assets at year-end 2024 were $4.3B; total deposits $3.7B; loans held for investment $2.65B.

• Tangible book value per share reached $23.65 at 4Q24, up from $22.60 in 3Q24.

Outlook and guidance

• Well-positioned for continued growth, leveraging strong deposit franchise and attractive markets in Florida and Georgia.

• Focus on expanding in high-growth regions and investing in scalable technology platforms.