Capital City Bank Group, Inc. reported net income attributable to common shareowners of $13.1 million, or $0.77 per diluted share, for the fourth quarter of 2024. For the full year 2024, net income attributable to common shareowners totaled $52.9 million, or $3.12 per diluted share, marking record earnings for the company.
Tax-equivalent net interest income for the fourth quarter of 2024 was $41.2 million, contributing to a full-year total of $159.2 million. The net interest margin for the fourth quarter was 4.17%, an increase of five basis points over the third quarter of 2024 and 10 basis points over the fourth quarter of 2023.
The company recorded a provision expense for credit losses of $0.7 million for the fourth quarter, bringing the full-year provision to $4.0 million. Nonperforming assets totaled $6.7 million at December 31, 2024, and classified loans were $19.9 million. Capital City Bank Group expects its annual effective tax rate to approximate 24% for 2025.
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