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Capital City Bank Group Q1 net income up

Capital City Bank Group has reported net income of $7.3 million for the first quarter of 2008, compared to $7 million for the same period of 2007.

The company reported earnings per diluted share of $0.42 for the first quarter of 2008, compared to $0.38 for the same period of 2007.

The non-interest income for the first quarter increased $2 million, or 12.5% for the first quarter of 2008, over the fourth quarter of 2007 and $3.8 million, or 27.5%, over the first quarter of 2007.

The non-interest expense decreased $1.8 million, or 5.7% for the first quarter of 2008, from the fourth quarter and $764,000, or 2.5%, from the first quarter of 2007.

William Smith, chairman, president, and CEO of Capital City Bank Group, said: Given the current operating environment and economic conditions, our earnings have held up well over the past few quarters as we work our way through this economic cycle.