CCBG earnings analysis
What we found in CCBG's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
CCBG delivered stronger Q2 profitability, with operating revenue of $64.8 million and diluted EPS of $0.95, both above Q1 2026 and Q2 2025, supported by a 4.35% net interest margin and higher mortgage-banking revenue. Balance-sheet capital and liquidity remain robust, but loan balances declined and asset-quality indicators deteriorated materially following $16.8 million of CRE relationship downgrades. The 10-Q provides no EPS or revenue outlook; management does expect deposit-fee income to fall beginning in Q3 2026 and projects approximately $10.0 million of capital spending over the next 12 months.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue and EPS rose sequentially and year over year
- Operating revenue (tax-equivalent net interest income plus noninterest income) was $64.8 million, up $2.0 million, or 3.3%, from $62.8 million in Q1 2026 and up $1.6 million, or 2.5%, from $63.2 million in Q2 2025. Diluted EPS increased to $0.95 from $0.92 sequentially and $0.88 a year ago.
- NII and margin expanded
- Tax-equivalent net interest income increased to $44.2 million from $42.9 million in Q1 and $43.2 million in Q2 2025; net interest margin expanded 11 basis points sequentially and 5 basis points year over year to 4.35%. Management cited higher-yielding investment purchases and lower deposit costs.
- Pre-tax profitability improved year over year
- Pre-tax income was $21.2 million, up from $20.7 million in Q1 and $20.0 million in Q2 2025; implied pre-tax operating margin increased to 32.8% from 32.9% sequentially and 31.7% year over year. The efficiency ratio improved to 65.76% from 67.26% a year earlier.
- Mortgage and card fees supported noninterest income
- Fee-income growth was led by mortgage banking revenue of $4.7 million, up $0.4 million, or 9.6%, sequentially and $0.5 million, or 11.2%, year over year. Bank-card fees rose to $3.9 million from $3.6 million sequentially.
- Capital ratios improved
- Capital strengthened: shareowners' equity rose to $570.1 million from $559.9 million at March 31, while the total risk-based capital ratio increased to 22.35% from 21.62% and tangible common equity increased to 11.03% from 10.79%.
- Liquidity deployment lifted securities income
- Management deployed liquidity into securities: average investments increased $48.2 million sequentially to $1.167 billion, helping securities income while average net overnight funds sold declined to $365.1 million from $407.7 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- CRE downgrades drove sharp classified-loan increase
- Credit migration worsened: classified loans reached $29.8 million, up $15.3 million sequentially, after downgrades of four CRE relationships totaling $16.8 million, including two private schools at $9.8 million, a $5.0 million funeral home, and a $2.0 million hotel.
- Nonperforming assets and ORE increased
- Nonperforming assets rose to $13.4 million, or 0.30% of total assets, from $13.0 million, or 0.29%, at March 31 and $10.5 million, or 0.24%, at year-end. Other real estate increased $1.6 million sequentially to $3.4 million.
- Loan balances continued to decline
- Loans held for investment at June 30 declined $18.5 million, or 0.7%, from March 31 and $46.2 million, or 1.8%, from year-end; average loans fell $32.4 million, or 1.3%, sequentially. The shrinking loan base may constrain future interest-income growth.
- Deposit fee income expected to decline
- Management expects deposit-fee revenue to decline beginning in Q3 2026 as deposit-product offerings are modified. Deposit fees were $5.7 million in Q2, representing 27.5% of $20.6 million total noninterest income.
- Wealth-management fees remain below prior year
- Wealth-management fees were $4.2 million, down $1.0 million, or 19.6%, from Q2 2025, as assets under management declined to approximately $2.839 billion from $3.192 billion. This offsets growth in mortgage and deposit fees.
- Falling-rate scenario remains unfavorable
- The filing reports no new or revised Item 1A risk factors versus prior filings. Nonetheless, rate sensitivity remains material: a modeled 200-basis-point rate decline would reduce net interest income by 4.8% over 12 months and economic value of equity by 20.7%.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.95
- Operating margin
- 32.8%
What they said about what is next.
No revenue or EPS guidance was provided in the 10-Q. Management expects its 2026 annual effective tax rate to approximate 23.5%, absent discrete items or new tax-credit investments, and expects approximately $10.0 million of capital expenditures over the next 12 months.
The filing reads about the same as the one before it.
What came before.
- 10-Q · April 28, 2026
- CCBG reported Q1 2026 diluted EPS of $0.92 and aggregated revenue of $62.79M (Net interest income (FTE) $42.857M + noninterest income $19.933M). Results showed a sequential improvement in profitability (income before…
- 10-K · February 27, 2026
- CCBG presents a community-bank strategy focused on regional relationship banking (62 offices, 108 ATMs/ITMs) with most revenue generated in Florida (~81%). The company delivered multi-year top-line growth to $552.9M in…
- 10-Q · April 30, 2025
- Capital City Bank Group (CCBG) reported Q1 2025 net revenue of $61,454,000 and diluted EPS of $0.99, up from $56,452,000 and $0.74 in Q1 2024. Profitability improved materially: income before income taxes rose to…
- 10-Q · July 12, 2024
- Q1 2024 results show pressure on profitability from higher funding costs despite stable core net interest income after reserve release; net income attributable to common shareholders declined to $12.557 million (Q1…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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