Capital City Bank Group Full Year 2023 Earnings: In Line With Expectations

Capital City Bank Group (NASDAQ:CCBG) Full Year 2023 Results

Key Financial Results

• Revenue: US$220.9m (up 15% from FY 2022).
• Net income: US$52.3m (up 56% from FY 2022).
• Profit margin: 24% (up from 17% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: US$3.08 (up from US$1.97 in FY 2022).

CCBG Banking Performance Indicators

• Net interest margin (NIM): 4.05% (up from 3.14% in FY 2022).
• Cost-to-income ratio: 68.0% (down from 75.6% in FY 2022).
• Non-performing loans: 0.23% (up from 0.09% in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Capital City Bank Group Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

In the last 12 months, the only revenue segment was Commercial Banking contributing US$220.9m. The largest operating expense was General & Administrative costs, amounting to US$121.4m (72% of total expenses). Explore how CCBG's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 4.4% from a week ago.

Risk Analysis

Be aware that Capital City Bank Group is showing 1 warning sign in our investment analysis that you should know about...

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