NASDAQ$CCBG
Capital City Bank Group Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Reported net income of $4.3 million, impacted by a $5.0 million provision for credit losses due to deteriorating economic conditions related to COVID-19.
Capital City Bank Group reported a net income of $4.3 million, or $0.25 per diluted share, for Q1 2020. This includes a $5.0 million provision for credit losses, exceeding net loan charge-offs of $1.1 million, due to COVID-19's economic impact.
- Diversified revenue and strong balance sheet buffered impact of COVID-19 and Fed interest rate actions.
- Average loans (ex-held for sale) up 0.8% sequentially and 4.2% over 2019.
- Loan loss provision of $5.0 million reflected reserve build for COVID-19 impact.
- Acquisition of a 51% membership interest in Brand Mortgage Group, LLC (now operated as Capital City Home Loans (“CCHL”)) occurred March 1st – nominal net impact on earnings.
Headline financials
Revenue & EPS history
Capital City Bank · Revenue · Quarterly
$41.3M
Revenue by segment
Capital City Bank · $15.5M total across 5 segments · Q1 2020
- Deposit Fees$5.02M—32.4%
- Bank Card Fees$3.05M—19.7%
- Mortgage Banking Revenues$3.03M+205.1%19.6%
- Wealth Management Fees$2.6M—16.8%
- Other Noninterest Income$1.78M—11.5%
Forward guidance
Deposit levels remain strong, and average core deposits grew over last quarter. As a result of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and our participation in the Paycheck Participation Program (PPP) to support small businesses, the potential exists for our deposit levels to be volatile over the coming quarters due to the government’s distribution of economic impact payments and the funding of PPP loans.
Tailwinds
- Current liquidity levels will remain adequate due to our strong overnight funds sold position
- Cash flow generated from the investment portfolio.
- Short-term advances from the FHLB or FRB could be considered if necessary.
- Deposit rates are monitored on an ongoing basis and adjusted if necessary
- A prudent pricing discipline remains the key to managing our mix of deposits.
Headwinds
- The magnitude and duration of the COVID-19 pandemic and its impact on the global economy and financial market conditions and our business, results of operations and financial condition, including the impact of our participation in government programs related to COVID-19
- The accuracy of the our financial statement estimates and assumptions
- Legislative or regulatory changes
- Fluctuations in inflation, interest rates, or monetary policies
- The effects of security breaches and computer viruses that may affect our computer systems or fraud related to debit card products
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+0.4%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+2.3%
Avg return
30 days after
58%
38 / 65 earnings
Positive
+8.8%
Q4 2023
Best reaction
-10.8%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | -1.5% | -0.8% | |
| Q4 2025 | -5.0% | -6.5% | -2.8% | |
| Q3 2025 | -1.8% | +0.9% | -2.4% | |
| Q2 2025 | -1.5% | -2.9% | +3.9% | |
| Q1 2025 | +3.7% | +5.7% | +11.5% | |
| Q4 2024 | -0.8% | -0.5% | -2.2% | |
| Q3 2024 | +2.9% | +0.3% | +12.0% | |
| Q2 2024 | +4.0% | +9.1% | -0.4% | |
| Q1 2024 | +0.3% | -0.3% | +2.3% | |
| Q4 2023 | +8.8% | +10.3% | -1.2% | |
| Q3 2023 | -8.3% | -4.9% | -7.7% | |
| Q2 2023 | -0.5% | -4.3% | -9.3% | |
| Q1 2023 | +4.1% | +7.4% | +5.2% | |
| Q4 2022 | -1.2% | -0.1% | +6.7% | |
| Q3 2022 | +2.1% | +3.3% | +4.4% | |
| Q2 2022 | +2.3% | +1.2% | +5.3% | |
| Q1 2022 | +4.0% | +3.1% | +6.8% | |
| Q4 2021 | +0.3% | +0.7% | -0.3% | |
| Q3 2021 | -0.8% | -0.4% | +6.7% | |
| Q2 2021 | +1.0% | +1.8% | -5.2% | |
| Q1 2021 | -0.7% | -0.8% | +3.4% | |
| Q4 2020 | -10.8% | -7.8% | +5.1% | |
| Q3 2020 | -0.6% | -1.2% | +14.1% | |
| Q2 2020 | +2.9% | +6.9% | +7.7% | |
| Q1 2020 | +6.3% | +21.1% | +6.2% | |
| Q4 2019 | +0.6% | +4.6% | -6.0% | |
| Q3 2019 | +1.4% | +2.0% | +2.3% | |
| Q2 2019 | +5.1% | +3.9% | +0.0% | |
| Q1 2019 | -3.2% | -2.8% | +0.1% | |
| Q4 2018 | +0.6% | +0.4% | +3.3% | |
| Q3 2018 | +0.8% | +4.3% | +10.7% | |
| Q2 2018 | -3.0% | -5.9% | -2.3% | |
| Q1 2018 | -3.8% | -5.2% | -7.6% | |
| Q4 2017 | -0.8% | -0.2% | +1.5% | |
| Q3 2017 | -0.9% | +5.4% | -1.6% | |
| Q2 2017 | +6.8% | +7.0% | +2.6% | |
| Q1 2017 | +0.5% | -1.3% | -10.2% | |
| Q4 2016 | +6.4% | +6.2% | +10.3% | |
| Q3 2016 | -1.0% | -2.5% | +25.8% | |
| Q2 2016 | -2.5% | -2.3% | -5.3% | |
| Q1 2016 | +2.8% | — | — | |
| Q4 2015 | +3.0% | — | — | |
| Q3 2015 | -1.4% | — | — | |
| Q2 2015 | +2.5% | — | — | |
| Q1 2015 | -4.8% | — | — | |
| Q4 2014 | -0.6% | — | — | |
| Q3 2014 | +5.1% | — | — | |
| Q2 2014 | +0.4% | — | — | |
| Q1 2014 | +0.8% | — | — | |
| Q4 2013 | +4.7% | — | — | |
| Q3 2013 | +0.3% | — | — | |
| Q2 2013 | +0.1% | — | — | |
| Q1 2013 | +1.0% | — | — | |
| Q4 2012 | -3.4% | — | — | |
| Q3 2012 | +0.5% | — | — | |
| Q2 2012 | -1.0% | — | — | |
| Q1 2011 | -7.3% | — | — | |
| Q1 2012 | +3.2% | — | — | |
| Q4 2009 | +0.8% | — | — | |
| Q4 2010 | +0.8% | — | — | |
| Q3 2010 | -3.3% | — | — | |
| Q3 2011 | -3.3% | — | — | |
| Q2 2011 | +3.5% | — | — | |
| Q2 2010 | +3.5% | — | — | |
| Q1 2010 | -0.2% | — | — |
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