Capital City Bank Group Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company's net interest income was $20,059,000 against $19,794,000 a year ago. Operating profit was $4,813,000 against $4,222,000 a year ago. Net income was $3,296,000 or $0.20 per diluted share against $2,602,000 or $0.16 per diluted share a year ago. Return on average assets was 0.48% against 0.39% a year ago. Return on average equity was 4.70% against 3.74% a year ago. Total interest income was $20,832,000 against $20,602,000 a year ago. Net interest income after provision for loan losses was $19,595,000 against $19,281,000 a year ago. Book value per diluted share as on December 31, 2016 was $16.23 against $15.93 a year ago. Tangible book value per diluted share was $11.23 against $11.00 as on December 31, 2016. Compared to the fourth quarter of 2015, the increase in earnings was due to lower noninterest expense of $0.7 million, higher net interest income of $0.3 million, and lower income taxes of $0.1 million, partially offset by lower noninterest income of $0.4 million. The year over year increase was driven primarily by one additional calendar day and growth in the loan and investment portfolios. These increases were partially offset by generally lower loan rates.

For the year, the company's net interest income was $77,965,000 against $76,351,000 a year ago. Operating profit was $17,613,000 against $13,575,000 a year ago. Net income was $11,746,000 or $0.69 per basic and diluted share against $9,116,000 or $0.53 per basic and diluted share a year ago. Return on average assets was 0.43% against 0.34% a year ago. Return on average equity was 4.22% against 3.31% a year ago. Total interest income was $81,154,000 against $79,658,000 a year ago. Net interest income after provision for loan losses was $77,146,000 against $74,757,000 a year ago. The increase in earnings was attributable to lower noninterest expense of $2.0 million, higher net interest income of $1.6 million, and a $0.8 million decrease in the loan loss provision, partially offset by higher income taxes of $1.4 million and lower noninterest income of $0.4 million.

For the fourth quarter of 2016, the company's net charge-offs totaled $777,000 against $1,297,000 a year ago.