NASDAQ$CCBG

Capital City Bank Group Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Reported strong third quarter results with increased net income and improved credit quality.

Capital City Bank Group reported a net income of $10.1 million, or $0.60 per diluted share, for Q3 2021. Net interest income grew, and noninterest expense decreased due to lower pension settlement charges and a gain from the sale of a banking office. Credit quality improved, resulting in no loan loss provision for the quarter.

  • Net interest income grew by $1.7 million, driven by higher loan fees and a better earning asset mix.
  • Average loans, excluding PPP loans, increased by $35 million, and average investment securities increased by $218 million.
  • Strong credit quality metrics resulted in no loan loss provision for the quarter.
  • Noninterest expense decreased by $2.4 million due to lower pension settlement charges and a gain from the sale of a banking office.

Headline financials

Total Revenue

$54.2M

Previous: $60.1M-9.7%
EPS (adj)

$0.60

Previous: $0.62-3.2%
Return on Average Assets

1.0%

Previous: 1.2%-15.4%
Return on Average Equity

11.7%

Previous: 12.2%-3.6%
Net Interest Margin

3.0%

Previous: 3.1%-4.5%
Noninterest Income as % of Operating Revenue

49.0%

No prior period
Efficiency Ratio

73.1%

Previous: 67.0%+9.1%
Equity to Assets

8.6%

No prior period
Allowance as % of Non-Performing Loans

710.4%

No prior period
Nonperforming Assets as % of Total Assets

0.1%

No prior period
Capital Expenditures

-$4.59M

Previous: -$7.84M+41.5%
Free Cash Flow

$5.5M

Previous: $2.56M+115.3%
Net Income

$10.1M

Previous: $10.4M-2.9%
Operating Income

$42.1M

Previous: $46.7M-9.7%
Gross Profit

$54.2M

Previous: $58.8M-7.7%
Cash & Equivalents

$73.1M

Previous: $76.5M-4.4%
Total Assets

$4.05B

Previous: $3.59B+12.9%
Stock-Based Comp

$219K

Previous: $242K-9.5%

Revenue & EPS history

Capital City Bank · Revenue · Quarterly

$54.2M

Q3 2021-9.7%vs Q3 2020
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Capital City Bank · $14.3M total across 4 segments · Q3 2021

  • Deposit Fees
    $5.08M+17.6%
  • Bank Card Fees
    $3.79M+11.7%
  • Wealth Management Fees
    $3.62M+29.0%
  • Other Noninterest Income
    $1.81M+23.0%

Forward guidance

The Bank continues to focus on expansion efforts in markets in west Florida and the northern arc of Atlanta, identifying opportunities and executing on strategies that are believed to be sustainable and add long-term value for shareowners, while challenges still remain.

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 Q3 2021

Historical avgQ3 2021

+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

Earnings price reactions
QuarterReport dateReaction (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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