Our performance in the fourth quarter underscored the strength of our financial standing, capping off an exceptional year. Community Capital Bancshares’s financial performance is a testament to our collective fortitude and the strength of our business model. Our record results in 2023 reflect growth in net income and earnings per share while bolstering our capital and positioning the bank for growth. 

We’re pleased to present an overview of our financial performance for the fourth quarter and for the year.

Financial Highlights:

• In 2023, Net Income increased 44.8%

• For the quarter, Net Income decreased 12.4% compared to 4Q22

• Our Efficiency Ratio improved to 53.13% for 2023 compared to 61.23% for 2022

• In 4Q23, Net Revenue grew 0.4% compared to 4Q22. For the year, Net Revenue grew 21.6% in 2023 compared to 2022

• Non-Interest Expense increased 11.9% in 4Q23 compared to 4Q22. For the year, Non-Interest Expense increased 5.6%.

• Average Loans increased 1.7% in 2023 from 2022

• Average Deposits declined 2.1% in 2023 from 2022

• Average Non-Interest-Bearing Demand Deposits were down 16.9% during that same period.

• Asset Quality remained strong with a 1.50% Allowance for Losses on Loans and Leases as a Percent of Total Loans, and Non-Performing Assets as a % of Total Assets is 0.00%.

• Tier 1 Leverage Ratio was 11.08%

• Diluted Earnings Per Share increased to $3.18 in 2023 up from $2.21 in 2022

• Fully Diluted Book Value Per Share stood at $19.37 at quarter-end, an increase of 11.6% from 4Q22

• Return on Average Assets for 2023 was 1.60%, up from 1.09% for 2022.

• Return on Average Common Equity for 2023 was 17.55%, up from 13.51% for 2022.

As we set our sights on 2024, we’re locked in on strengthening our core deposit generation, generating loans consistent with our robust credit culture, while delivering on our gold standard of community banking promise. As always, we remain committed to prudent risk management, disciplined expense management, and maximization of our core business model.

We’re grateful for your trust.