Capital City Bank Group Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2015
January 26, 2016 at 12:00 pm
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Capital City Bank Group Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company's net interest income was $19.794 million against $19.019 million a year ago. Operating profit was $4.222 million against $3.140 million a year ago. Net income was $2.602 million or $0.16 per diluted share against $1.921 million or $0.11 per diluted share a year ago. Return on average assets was 0.39% against 0.30% a year ago. Return on average equity was 3.74% against 2.66% a year ago. The increase in earnings was due to a $0.8 million increase in net interest income, a $0.1 million decrease in the loan loss provision, and higher noninterest income of $0.2 million, partially offset by higher income taxes of $0.4 million. Total interest income was $20.602 million against $19.871 million a year ago. Net interest income after provision for loan losses was $19.281 million against $18.396 million a year ago. book value per diluted share was $15.93 against $15.53 a year ago. Tangible book value per diluted share was $11.00 against $10.70 a year ago.
For the year, the company's net interest income was $76.351 million against $74.641 million a year ago. Operating profit was $13.575 million against $10.914 million a year ago. Net income was $9.116 million or $0.53 per diluted share against $9.260 million or $0.53 per diluted share a year ago. Return on average assets was 0.34% against 0.36% a year ago. Return on average equity was 3.31% against 3.27% a year ago. For the full year 2015, the decrease in earnings was attributable to higher noninterest expense of $0.9 million and income taxes of $2.8 million, partially offset by a $1.7 million increase in net interest income, higher noninterest income of $1.5 million, and a lower loan loss provision of $0.3 million. Total interest income was $79.658 million against $78.221 million a year ago. Net interest income after provision for loan losses was $74.757 million against $72.736 million a year ago.
For the fourth quarter of 2015, the company's net charge-offs totaled $1.3 million against $2.177 million a year ago.
Capital City Bank Group, Inc. is a financial holding company. The Company provides a full range of banking and banking-related services to individual and corporate clients through its wholly owned subsidiary, Capital City Bank (the Bank). The Company provides two principal services include Banking Services and Wealth Management Services. It provides a full range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services, bankcards, securities brokerage services and financial advisory services, including the sale of life insurance, risk management and asset protection services. The Company offers its customers access to retail investment products through LPL Financial under, which retail investment products would be offered through LPL. The Bank has approximately 63 banking offices and 103 automated teller machines ATMs/ interactive teller machines (ITMs) in Florida, Georgia, and Alabama.
Capital City Bank Group Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2015