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April 27 , 2021 Capital City Bank Group Capital City Bank Group , Inc. Reports First Quarter 2021 Results TALLAHASSEE , Fla . , April 27 , 2021 ( GLOBE NEWSWIRE ) -- Capital City Bank Group , Inc. ( NASDAQ : CCBG ) today reported net income of $ 9.5 million , or $ 0.56 per diluted share , for the first quarter of 2021 compared to net income of $ 7.7 million , or $ 0.46 per diluted share , for the fourth quarter of 2020 , and $ 4.3 million , or $ 0.25 per diluted share , for the first quarter of 2020 . QUARTER HIGHLIGHTS • Return on assets of 1.01 % and return on equity of 11.81 % • Credit quality metrics remained stable and reduced COVID - 19 exposure drove a negative credit loss provision of $ 1.0 million • Period - end loan balances grew by $ 51 million , or 2.6 % sequentially 。 SBA PPP Round 2 originations totaled $ 65 million through March 3ſt 。 SBA PPP Round 1 forgiveness pay - offs totaled $ 36 million - $ 143 million in balances remain at period - end 。 SBA PPP deferred fees remaining at March 3ft totaled $ 5 million ( $ 2 million for Round 1 and $ 3 million for Round 2 ) • Average deposit balances grew $ 173 million , or 5.7 % sequentially and reflected stimulus inflows as well as strong core deposit growth • Noninterest expense declined $ 0.9 million driven by lower expense for other real estate and compensation • Capital City Home Loans ( " CCHL ” ) contributed $ 0.09 per share " I am pleased with our first quarter results , " said William G. Smith , Jr. , Chairman , President and CEO of Capital City Bank Group . “ Rising consumer spending , lower unemployment , improving credit quality and a noticeable increase in loan activity in and around our markets , are contributing to a stronger economy . Our core business is performing well . In addition to round two of the SBA PPP loans , we experienced solid growth in commercial real estate and residential loans , culminating in net loan growth of $ 51 million , or 2.6 % for the quarter . Wealth management , mortgage and debit / credit cards performed well . Expenses declined $ 0.9 million , or 2 % quarter over quarter . After evaluating our credit risk , we lowered our allowance for credit losses by $ 1.8 million , or 8 % . This was based on our current level of problem assets and pandemic - related extensions , a $ 0.5 million net recovery for the quarter and our positive outlook on the economy . The past year has been challenging . Our team has responded to every challenge and we have tweaked our business model , where appropriate . While our tactics may change , our strategy remains the same to produce long - term value for our shareowners . I am optimistic about our future . ” COVID - 19 Update -- • We continue to closely monitor conditions in our communities . With case counts