Capital City Bank Group Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net income of $1.9 million or $0.11 per diluted share compared to net loss of $0.5 million or $0.03 per diluted share for the fourth quarter of 2011. Compared to the fourth quarter of 2011, the increase in earnings was due to a lower loan loss provision of $4.8 million and a decline in noninterest expense of $1.6 million, partially offset by a reduction in operating revenues of $1.6 million and higher income taxes of $2.4 million. Return on average assets was 0.29% and return on average equity was 2.95% for the fourth quarter of 2012. These metrics were -0.08% and -0.80% for the fourth quarter of 2011, respectively. Tax equivalent net interest income was $20.7 million compared to $22.6 million for the fourth quarter of 2011. The company reported operating profit of $2.44 million and net interest income of $20.55 million on total interest income of $21.78 million compared to operating loss of $2.43 million and net interest income of $22.4 million on total interest income of $23.91 million reported a year ago.

For the full year 2012, the company reported net income of $0.1 million or $0.01 per diluted share compared to net income of $4.9 million or $0.29 per diluted share in 2011. The decline in earnings was attributable to lower operating revenues of $11.3 million partially offset by a lower loan loss provision of $2.8 million, a decrease in noninterest expense of $1.7 million and a reduction in income taxes of $2.0 million. Return on average assets was 0.00% and return on average equity was 0.04% compared to 0.19% and 1.86%, respectively, for the full year of 2011. Tax equivalent net interest income totaled $84.9 million compared to $92.8 million in 2011. Book value per diluted share was $14.31 compared to $14.68 as at December 31, 2011. Tangible book value per diluted share was $9.38 compared to $9.70 as at December 31, 2011. The company reported operating loss of $1.23 million and net interest income of $84.31 million on total interest income of $89.68 million compared to operating profit of $5.52 million and net interest income of $91.92 million on total interest income of $99.46 million reported a year ago.