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Capital City Bank's 1Q Profit Tumbles 91 Percent

Net interest income, the difference between how much it costs a bank to borrow money and how much it receives from lending, fell to $31.1 million during the quarter, from $38.7 million during the year-ago period.

Non-interest income, money derived from fees and other charges, also fell. It declined 21 percent to $14 million during the first quarter from $17.8 million during the same quarter last year.

Shares of Capital City Bank tumbled $1.85, or 12.3 percent, to $13.12 in afternoon trading as the financial sector and broader market both declined as well.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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