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…
Earnings analysis · 10-Q
CCBG earnings analysis
Filed July 29, 2026 · Our reading of the company's report
The latest report
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.…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.95
- Operating margin
- 32.8%
What stood out
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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.
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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.
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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.
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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.
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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%.
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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.
What to watch
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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.
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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.
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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.
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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.
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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.
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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%.
Management's outlook
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.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.