Page 1

July 27 , 2021 Capital City Bank Group Capital City Bank Group , Inc. Reports Second Quarter 2021 Results TALLAHASSEE , Fla . , July 27 , 2021 ( GLOBE NEWSWIRE ) -- Capital City Bank Group , Inc. ( NASDAQ : CCBG ) today reported net income of $ 7.4 million , or $ 0.44 per diluted share , for the second quarter of 2021 compared to net income of $ 9.5 million , or $ 0.56 per diluted share , for the first quarter of 2021 , and $ 9.1 million , or $ 0.55 per diluted share , for the second quarter of 2020. Net income for the second quarter of 2021 included a partial pension settlement charge of $ 2.0 million ( pre - tax ) , or $ 0.10 per diluted share ( after tax ) . For the first six months of 2021 , net income totaled $ 16.9 million , or $ 1.00 per diluted share , compared to net income of $ 13.4 million , or $ 0.80 per diluted share , for the same period of 2020 . Our return on average assets ( " ROA ” ) was 0.75 % and our return on average equity ( " ROE " ) was 9.05 % for the second quarter of 2021. These metrics were 1.01 % and 11.81 % for the first quarter of 2021 , respectively , and 1.10 % and 11.03 % for the second quarter of 2020 , respectively . For the first six months of 2021 , our ROA was 0.88 % and our ROE was 10.42 % compared to 0.85 % and 8.12 % , respectively , for the same period of 2020 . QUARTER HIGHLIGHTS • Net interest income grew 6 % sequentially driven by strong loan growth and higher SBA PPP fees • Period - end loan balances ( net of SBA PPP balances ) grew by $ 74 million , or 4.0 % sequentially 。 Remaining SBA PPP balances and deferred fees totaled $ 80 million and $ 3.5 million , respectively , at period - end • Strong credit quality metrics and a net loan loss recovery drove a negative credit loss provision of $ 0.6 million • Average deposit balances grew $ 148 million , or 4.6 % sequentially and reflected additional stimulus inflows as well as strong core deposit growth • Noninterest expense increased $ 1.6 million and included a partial pension settlement charge of $ 2.0 million – controllable expenses at CCB continued to be well managed • Capital City Home Loans ( " CCHL " ) contributed $ 0.05 per share " Challenges remain , but Capital City produced solid results for both the second quarter and first half of 2021 , " said William G. Smith , Jr. , Chairman , President and CEO of Capital City Bank Group . " Excluding PPP loans , our loan portfolio grew $ 74.3 million , or 3.8 % , for the quarter with commercial mortgages and auto finance contributing a majority of the net growth . Continued improvement in the economy and favorable credit quality resulted in a negative credit loss provision of $ 570,000 . Quarter over quarter , our fee based businesses performed well . Wealth management revenues increased 6.0 % , and I am pleased to welcome Capital City Strategic Wealth ( " CCSW " – formerly Strategic Wealth Group ) to our