By Chris Wack
Capital City Bank Group shares were 5% higher at $36.02, after the company reported first-quarter earnings that beat analysts' expectations.
The regional bank, headquartered in Florida, reported quarterly earnings of $16.9 million, or 99 cents a share, compared with $12.6 million, or 74 cents a share, in the same quarter last year.
Analysts polled by FactSet were looking for earnings of $12.6 million, or 74 cents a share.
The company said its first-quarter earnings included a 17-cent-a-share gain from the sale of its operations center building.
Tax-equivalent net interest income for the quarter totaled $41.6 million, compared with $38.4 million for the first quarter of 2024. The increase was driven by higher investment securities interest due to new investment purchases at higher yields, in addition to lower deposit interest expense, partially offset by lower loan interest due to lower average loan balances and interest rates.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
April 21, 2025 10:13 ET (14:13 GMT)
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