Community Trust Bancorp, Inc. (NASDAQ:CTBI):
Earnings Summary
(in thousands except per share data)
2Q 2022
1Q 2022
2Q 2021
YTD 2022
YTD 2021
Net income
$20,271
$19,728
$23,931
$39,999
$47,549
Earnings per share
$1.14
$1.11
$1.35
$2.24
$2.67
Earnings per share - diluted
$1.14
$1.11
$1.34
$2.24
$2.67
Return on average assets
1.49%
1.48%
1.76%
1.48%
1.80%
Return on average equity
12.75%
11.77%
14.20%
12.25%
14.34%
Efficiency ratio
53.77%
53.25%
53.17%
53.51%
51.76%
Tangible common equity
10.53%
10.93%
11.39%
Dividends declared per share
$0.400
$0.400
$0.385
$0.800
$0.770
Book value per share
$35.32
$36.53
$38.36
Weighted average shares
17,835
17,820
17,784
17,827
17,779
Weighted average shares - diluted
17,843
17,832
17,800
17,838
17,794
Community Trust Bancorp, Inc. (NASDAQ-CTBI) achieved earnings
for the second quarter 2022 of $20.3 million, or $1.14 per basic
share, compared to $19.7 million, or $1.11 per basic share, earned
during the first quarter 2022 and $23.9 million, or $1.35 per basic
share, earned during the second quarter 2021. Total revenue was
$0.3 million above prior quarter but $0.2 million below prior year
same quarter. Net interest revenue increased $0.8 million compared
to prior quarter and prior year same quarter; however, noninterest
income decreased $0.5 million compared to prior quarter and $1.0
million compared to prior year same quarter. The decrease in
noninterest income quarter over quarter was primarily the result of
a variance in the valuation of our mortgage servicing rights, while
the decrease year over year was primarily the result of a decrease
in gains on sales of loans. Provision for credit losses for the
quarter was $0.1 million, compared to provision of $0.9 million for
the quarter ended March 31, 2022 and a recovery of provision of
$4.3 million for the second quarter 2022. Noninterest expense
increased $0.6 million compared to prior quarter and $0.5 million
compared to prior year same quarter. Net income for the six months
ended June 30, 2022 was below prior year by $7.5 million, primarily
due to the $6.8 million recovery of provision for credit losses
taken in 2021.
2nd Quarter 2022 Highlights
- Net interest income for the quarter of $40.8 million was $0.8
million above prior quarter and prior year same quarter.
- Provision for loan losses for the quarter was $0.1 million,
compared to provision of $0.9 million for the quarter ended March
31, 2022 and a recovery of provision of $4.3 million for the second
quarter 2021.
- Our loan portfolio increased $42.9 million, an annualized 4.9%,
during the quarter and $110.0 million, or 3.2%, from June 30,
2021.
- Net loan charge-offs were $42 thousand, or less than 0.01% of
average loans annualized, for the quarter ended June 30, 2022
compared to net loan charge-offs of $0.3 million, or 0.04% of
average loans annualized, for the first quarter 2022 and a net
recovery of loan charge-offs for the second quarter 2021 of $0.6
million.
- Our nonperforming loans, excluding troubled debt
restructurings, increased slightly to $13.8 million at June 30,
2022 from $13.7 million at March 31, 2022 but were $7.3 million
below the $21.1 million at June 30, 2021. Nonperforming assets at
$15.8 million decreased $0.2 million from March 31, 2022 and $11.2
million from June 30, 2021.
- Deposits, including repurchase agreements, increased $28.7
million, an annualized 2.5%, during the quarter and $17.4 million,
or 0.4%, from June 30, 2021.
- Shareholders’ equity declined $21.3 million, or an annualized
13.1%, during the quarter and $52.0 million, or 7.6%, from June 30,
2021, as a result of the continued increase in unrealized losses on
our securities portfolio.
- Noninterest income for the quarter ended June 30, 2022 of $14.5
million was $0.5 million, or 3.1%, below prior quarter and $1.0
million, or 6.6%, below prior year same quarter.
- Noninterest expense for the quarter ended June 30, 2022 of
$30.0 million was $0.6 million, or 2.1%, higher than prior quarter
and $0.5 million, or 1.6%, above prior year same quarter.
Net Interest Income
Percent Change
2Q 2022 Compared to:
($ in thousands)
2Q
2022
1Q
2022
2Q
2021
1Q
2022
2Q
2021
YTD
2022
YTD
2021
Percent Change
Components of net interest income:
Income on earning assets
$45,352
$43,527
$43,875
4.2%
3.4%
$88,879
$88,086
0.9%
Expense on interest bearing
liabilities
4,562
3,495
3,868
30.5%
17.9%
8,057
7,837
2.8%
Net interest income
$40,790
$40,032
$40,007
1.9%
2.0%
$80,822
$80,249
0.7%
TEQ
232
235
230
(1.3)%
0.9%
467
447
4.5%
Net interest income, tax equivalent
$41,022
$40,267
$40,237
1.9%
1.9%
$81,289
$80,696
0.7%
Average yield and rates paid:
Earning assets yield
3.56%
3.46%
3.41%
2.9%
4.2%
3.51%
3.52%
(0.4)%
Rate paid on interest bearing
liabilities
0.54%
0.42%
0.45%
28.2%
19.7%
0.48%
0.47%
3.4%
Gross interest margin
3.02%
3.04%
2.96%
(0.6)%
1.9%
3.03%
3.05%
(0.9)%
Net interest margin
3.20%
3.18%
3.11%
0.6%
2.8%
3.19%
3.21%
(0.5)%
Average balances:
Investment securities
$1,454,371
$1,486,799
$1,225,369
(2.2)%
18.7%
$1,470,495
1,145,018
28.4%
Loans
$3,538,324
$3,440,439
$3,495,655
2.8%
1.2%
$3,489,652
3,521,861
(0.9)%
Earning assets
$5,140,656
$5,134,150
$5,184,923
0.1%
(0.9)%
$5,137,421
5,071,907
1.3%
Interest-bearing liabilities
$3,373,741
$3,350,208
$3,424,218
0.7%
(1.5)%
$3,362,039
3,379,958
(0.5)%
Net interest income for the quarter of $40.8 million was $0.8
million above prior quarter and prior year same quarter. Our net
interest income excluding PPP loans for the quarter ended June 30,
2022 was $40.3 million compared to $38.6 million for the quarter
ended March 31, 2022 and $36.4 million for the quarter ended June
30, 2021. Our net interest margin, on a fully tax equivalent basis,
at 3.20% increased 2 basis points from prior quarter and 9 basis
points from prior year same quarter, as our average earning assets
increased $6.5 million from prior quarter but decreased $44.3
million from prior year same quarter. Our yield on average earning
assets increased 10 basis points from prior quarter and 15 basis
points from prior year same quarter, and our cost of funds
increased 12 basis points from prior quarter and 9 basis points
from prior year same quarter. As discussed more fully below, the
impact of the PPP loans to the net interest margin for the second
quarter 2022 was 3 basis points.
The PPP loan portfolio had an annualized yield for the quarter
of 13.56% compared to 17.03% for the first quarter 2022. Interest
income on the portfolio was $45 thousand during the quarter, down
$51 thousand from prior quarter, while the amortization of net loan
origination fees from current outstanding loans and recognition of
net fee income from paid and forgiven loans was $463 thousand, down
$915 thousand from prior quarter. These fees are amortized over the
life of the loan with any unamortized balance fully recognized at
the time of loan forgiveness. The impact of the PPP loan portfolio
to the net interest margin was an increase of 3 basis points for
the second quarter 2022 compared to an increase of 11 basis points
for the first quarter 2022.
Our ratio of average loans to deposits, including repurchase
agreements, was 75.2% for the quarter ended June 30, 2022 compared
to 74.2% for the quarter ended March 31, 2022 and 75.0% for the
quarter ended June 30, 2021.
Noninterest Income
Percent Change
2Q 2022 Compared to:
($ in thousands)
2Q
2022
1Q
2022
2Q
2021
1Q
2022
2Q
2021
YTD
2022
YTD
2021
Percent Change
Deposit related fees
$7,263
$6,746
$6,358
7.7%
14.2%
$14,009
$12,380
13.2%
Trust revenue
3,198
3,248
3,349
(1.5)%
(4.5)%
6,446
6,300
2.3%
Gains on sales of loans
519
597
1,907
(13.0)%
(72.8)%
1,116
4,340
(74.3)%
Loan related fees
1,415
2,062
1,004
(31.4)%
41.0%
3,477
3,274
6.2%
Bank owned life insurance revenue
702
691
581
1.7%
20.8%
1,393
1,154
20.7%
Brokerage revenue
459
590
554
(22.2)%
(17.2)%
1,049
1,011
3.8%
Other
945
1,031
1,768
(8.5)%
(46.7)%
1,976
2,639
(25.2)%
Total noninterest income
$14,501
$14,965
$15,521
(3.1)%
(6.6)%
$29,466
$31,098
(5.2)%
Noninterest income for the quarter ended June 30, 2022 of $14.5
million was $0.5 million, or 3.1%, below prior quarter and $1.0
million, or 6.6%, below prior year same quarter. The quarter over
quarter decrease included a $0.6 million decrease in loan related
fees and a $0.3 million decrease in securities gains, partially
offset by a $0.5 million increase in deposit related fees. The
decrease from prior year same quarter included a $1.4 million
decrease in gains on sales of loans and a $0.5 million decrease in
securities gains, partially offset by a $0.9 million increase in
deposit related fees. Year-to-date noninterest income decreased
$1.6 million from the six months ended June 30, 2021 due to a $3.2
million decline in gains on sales of loans, partially offset by a
$1.6 million increase in deposit related fees. Gains on sales of
loans were impacted by the slowdown in the industry-wide mortgage
refinancing boom. Deposit related fees were primarily impacted by
debit card income and overdraft charges. Loan related fees were
primarily impacted by the change in the fair market value of
mortgage servicing rights.
Noninterest Expense
Percent Change
2Q 2022 Compared to:
($ in thousands)
2Q
2022
1Q
2022
2Q
2021
1Q
2022
2Q
2021
YTD
2022
YTD
2021
Percent Change
Salaries
$12,219
$11,739
$11,706
4.1%
4.4%
$23,958
$23,118
3.6%
Employee benefits
6,315
5,799
7,254
8.9%
(12.9)%
12,114
12,675
(4.4)%
Net occupancy and equipment
2,756
2,854
2,668
(3.4)%
3.3%
5,610
5,496
2.1%
Data processing
2,095
2,201
1,870
(4.8)%
12.0%
4,296
4,029
6.6%
Legal and professional fees
884
867
753
1.9%
17.2%
1,751
1,646
6.4%
Advertising and marketing
659
752
710
(12.6)%
(7.3)%
1,411
1,432
(1.4)%
Taxes other than property and payroll
425
426
375
(0.3)%
13.3%
851
745
14.2%
Net other real estate owned expense
43
353
488
(87.6)%
(91.1)%
396
806
(50.8)%
Other
4,582
4,368
3,674
4.9%
24.8%
8,950
7,861
13.8%
Total noninterest expense
$29,978
$29,359
$29,498
2.1%
1.6%
$59,337
$57,808
2.6%
Noninterest expense for the quarter ended June 30, 2022 of $30.0
million was $0.6 million, or 2.1%, higher than prior quarter and
$0.5 million, or 1.6%, above prior year same quarter. The increase
in noninterest expense quarter over quarter was primarily the
result of an increase in personnel expense ($1.0 million),
partially offset by a $0.3 million decrease in net other real
estate owned expense. The increase in personnel expense was due to
increases in salaries and a higher accrual for bonuses and
incentives. Noninterest expense for the six months ended June 30,
2022 was $1.5 million higher than the six months ended June 30,
2021. The year-to-date increase was primarily the result of
increases in personnel expense, data processing expense, and loan
related expenses.
Balance Sheet Review
Total Loans
Percent Change
2Q 2022 Compared to:
($ in thousands)
2Q
2022
1Q
2022
2Q
2021
1Q
2022
2Q
2021
Commercial nonresidential real estate
$758,227
$774,791
$718,338
(2.1)%
5.6%
Commercial residential real estate
354,668
337,447
309,627
5.1%
14.5%
Hotel/motel
280,956
274,256
261,422
2.4%
7.5%
SBA guaranteed PPP loans
7,788
22,482
175,983
(65.4)%
(95.6)%
Other commercial
395,876
394,875
356,359
0.3%
11.1%
Total commercial
1,797,515
1,803,851
1,821,729
(0.4)%
(1.3)%
Residential mortgage
793,249
780,453
762,649
1.6%
4.0%
Home equity loans/lines
110,828
107,230
102,551
3.4%
8.1%
Total residential
904,077
887,683
865,200
1.8%
4.5%
Consumer indirect
697,060
667,387
610,025
4.4%
14.3%
Consumer direct
159,791
156,620
151,539
2.0%
5.4%
Total consumer
856,851
824,007
761,564
4.0%
12.5%
Total loans
$3,558,443
$3,515,541
$3,448,493
1.2%
3.2%
Total Deposits and Repurchase
Agreements
Percent Change
2Q 2022 Compared to:
($ in thousands)
2Q
2022
1Q
2022
2Q
2021
1Q
2022
2Q
2022
Non-interest bearing deposits
$1,408,148
$1,398,529
$1,286,989
0.7%
9.4%
Interest bearing deposits
Interest checking
99,055
89,863
99,226
10.2%
(0.2)%
Money market savings
1,243,817
1,200,408
1,281,431
3.6%
(2.9)%
Savings accounts
671,349
666,874
596,426
0.7%
12.6%
Time deposits
1,050,559
1,072,630
1,059,630
(2.1)%
(0.9)%
Repurchase agreements
238,733
254,623
370,568
(6.2)%
(35.6)%
Total interest bearing deposits and
repurchase agreements
3,303,513
3,284,398
3,407,281
0.6%
(3.0)%
Total deposits and repurchase
agreements
$4,711,661
$4,682,927
$4,694,270
0.6%
0.4%
CTBI’s total assets at $5.4 billion increased $4.2 million, or
0.3% annualized, from March 31, 2022 but decreased $46.8 million,
or 0.9%, from June 30, 2021. Loans outstanding at June 30, 2022
were $3.6 billion, an increase of $42.9 million, an annualized
4.9%, from March 31, 2022 and $110.0 million, or 3.2%, from June
30, 2021. Loans, excluding PPP loans, increased $57.6 million
during the quarter, with an $8.4 million increase in the commercial
loan portfolio, $16.4 million increase in the residential loan
portfolio, a $29.7 million increase in the indirect consumer loan
portfolio, and a $3.1 million increase in the consumer direct loan
portfolio. The PPP loan portfolio declined during the quarter $14.7
million as a result of SBA forgiveness. CTBI’s investment portfolio
decreased $101.3 million, or an annualized 27.0%, from March 31,
2022 but increased $44.1 million, or 3.2%, from June 30, 2021.
Deposits in other banks increased $30.2 million from prior quarter
but decreased $254.2 million from prior year same quarter.
Deposits, including repurchase agreements, at $4.7 billion
increased $28.7 million, or an annualized 2.5%, from March 31, 2022
and $17.4 million, or 0.4%, from June 30, 2021.
Shareholders’ equity declined $21.3 million, or an annualized
13.1%, during the quarter and $52.0 million, or 7.6%, from June 30,
2021, as a result of the continued increase in unrealized losses on
our securities portfolio. We experienced a $34.9 million increase
in accumulated other comprehensive loss, net of tax, resulting from
increases in unrealized losses on our securities portfolio during
the quarter. CTBI’s annualized dividend yield to shareholders as of
June 30, 2022 was 3.96%.
Asset Quality
Our total nonperforming loans, excluding troubled debt
restructurings, increased slightly to $13.8 million at June 30,
2022 from $13.7 million at March 31, 2022 but were $7.3 million
below the $21.1 million at June 30, 2021. Accruing loans 90+ days
past due at $5.0 million increased $0.2 million from prior quarter
but decreased $3.3 million from June 30, 2021. Nonaccrual loans
remained at $8.8 million from prior quarter but decreased $4.0
million from June 30, 2021. Accruing loans 30-89 days past due at
$10.6 million decreased $0.2 million from prior quarter and $0.3
million from June 30, 2021. Our loan portfolio management processes
focus on the immediate identification, management, and resolution
of problem loans to maximize recovery and minimize loss.
Our level of foreclosed properties were $2.0 million at June 30,
2022 compared to $2.3 million at March 31, 2022 and $5.8 million at
June 30, 2021. Sales of foreclosed properties for the quarter ended
June 30, 2022 totaled $0.7 million while new foreclosed properties
totaled $0.3 million. At June 30, 2022, the book value of
properties under contracts to sell was $0.4 million; however, the
closings had not occurred at quarter-end.
Net loan charge-offs were $42 thousand, or less than 0.01% of
average loans annualized, for the quarter ended June 30, 2022
compared to net loan charge-offs of $0.3 million, or 0.04% of
average loans annualized, for the first quarter 2022 and a net
recovery of loan charge-offs for the second quarter 2021 of $0.6
million. Year-to-date net loan charge-offs were $0.4 million, or
0.02% of average loans annualized, compared to a net recovery of
loan charge-offs of $0.4 million for the first six months of
2021.
Allowance for Credit Losses
Provision for credit losses for the quarter was $0.1 million,
compared to provision of $0.9 million for the quarter ended March
31, 2022 and a recovery of provision of $4.3 million for the second
quarter 2021. Year-to-date provision was $1.0 million compared to a
recovery of $6.8 million during the first six months of 2021. Our
reserve coverage (allowance for credit losses to nonperforming
loans) at June 30, 2022 was 305.9% compared to 309.1% at March 31,
2022 and 197.2% at June 30, 2021. Our credit loss reserve as a
percentage of total loans outstanding at June 30, 2022 was 1.19%
(1.19% excluding PPP loans) compared to 1.20% at March 31, 2022
(1.21% excluding PPP loans) and 1.21% at June 30, 2021 (1.27%
excluding PPP loans).
Forward-Looking Statements
Certain of the statements contained herein that are not
historical facts are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act. Community Trust
Bancorp, Inc.’s (“CTBI”) actual results may differ materially from
those included in the forward-looking statements. Forward-looking
statements are typically identified by words or phrases such as
“believe,” “expect,” “anticipate,” “intend,” “estimate,” “may
increase,” “may fluctuate,” and similar expressions or future or
conditional verbs such as “will,” “should,” “would,” and “could.”
These forward-looking statements involve risks and uncertainties
including, but not limited to, economic conditions, portfolio
growth, the credit performance of the portfolios, including
bankruptcies, and seasonal factors; changes in general economic
conditions including the performance of financial markets,
prevailing inflation and interest rates, realized gains from sales
of investments, gains from asset sales, and losses on commercial
lending activities; the effects of the COVID-19 pandemic on our
business operations and credit quality and on general economic and
financial market conditions, as well as our ability to respond to
the related challenges; results of various investment activities;
the effects of competitors’ pricing policies, changes in laws and
regulations, competition, and demographic changes on target market
populations’ savings and financial planning needs; industry changes
in information technology systems on which we are highly dependent;
failure of acquisitions to produce revenue enhancements or cost
savings at levels or within the time frames originally anticipated
or unforeseen integration difficulties; and the resolution of legal
proceedings and related matters. In addition, the banking industry
in general is subject to various monetary, operational, and fiscal
policies and regulations, which include, but are not limited to,
those determined by the Federal Reserve Board, the Federal Deposit
Insurance Corporation, the Consumer Financial Protection Bureau,
and state regulators, whose policies, regulations, and enforcement
actions could affect CTBI’s results. These statements are
representative only on the date hereof, and CTBI undertakes no
obligation to update any forward-looking statements made.
Community Trust Bancorp, Inc., with assets of $5.4 billion, is
headquartered in Pikeville, Kentucky and has 68 banking locations
across eastern, northeastern, central, and south central Kentucky,
six banking locations in southern West Virginia, three banking
locations in northeastern Tennessee, four trust offices across
Kentucky, and one trust office in Tennessee.
Additional information follows.
Community Trust Bancorp, Inc. Financial Summary
(Unaudited) June 30, 2022 (in thousands except per share
data and # of employees) Three Three Three Six Six Months
Months Months Months Months Ended Ended Ended Ended Ended June
30,2022 March 31,2022 June 30,2021 June 30,2022 June 30,2021
Interest income
$
45,352
$
43,527
$
43,875
$
88,879
$
88,086
Interest expense
4,562
3,495
3,868
8,057
7,837
Net interest income
40,790
40,032
40,007
80,822
80,249
Credit loss provision (recovery)
77
875
(4,257
)
952
(6,756
)
Gains on sales of loans
519
597
1,907
1,116
4,340
Deposit related fees
7,263
6,746
6,358
14,009
12,380
Trust revenue
3,198
3,248
3,349
6,446
6,300
Loan related fees
1,415
2,062
1,004
3,477
3,274
Securities gains (losses)
(225
)
99
280
(126
)
112
Other noninterest income
2,331
2,213
2,623
4,544
4,692
Total noninterest income
14,501
14,965
15,521
29,466
31,098
Personnel expense
18,534
17,538
18,960
36,072
35,793
Occupancy and equipment
2,756
2,854
2,668
5,610
5,496
Data processing expense
2,095
2,201
1,870
4,296
4,029
FDIC insurance premiums
358
355
323
713
649
Other noninterest expense
6,235
6,411
5,677
12,646
11,841
Total noninterest expense
29,978
29,359
29,498
59,337
57,808
Net income before taxes
25,236
24,763
30,287
49,999
60,295
Income taxes
4,965
5,035
6,356
10,000
12,746
Net income
$
20,271
$
19,728
$
23,931
$
39,999
$
47,549
Memo: TEQ interest income
$
45,584
$
43,762
$
44,105
$
89,346
$
88,533
Average shares outstanding
17,835
17,820
17,784
17,827
17,779
Diluted average shares outstanding
17,843
17,832
17,800
17,838
17,794
Basic earnings per share
$
1.14
$
1.11
$
1.35
$
2.24
$
2.67
Diluted earnings per share
$
1.14
$
1.11
$
1.34
$
2.24
$
2.67
Dividends per share
$
0.400
$
0.400
$
0.385
$
0.800
$
0.770
Average balances: Loans
$
3,538,324
$
3,440,439
$
3,495,655
$
3,489,652
$
3,521,861
Earning assets
5,140,656
5,134,150
5,184,923
5,137,421
5,071,907
Total assets
5,446,263
5,417,800
5,450,182
5,432,110
5,335,432
Deposits, including repurchase agreements
4,705,492
4,633,988
4,661,615
4,669,938
4,552,736
Interest bearing liabilities
3,373,741
3,350,208
3,424,218
3,362,039
3,379,958
Shareholders' equity
637,542
679,527
675,727
658,419
668,555
Performance ratios: Return on average assets
1.49
%
1.48
%
1.76
%
1.48
%
1.80
%
Return on average equity
12.75
%
11.77
%
14.20
%
12.25
%
14.34
%
Yield on average earning assets (tax equivalent)
3.56
%
3.46
%
3.41
%
3.51
%
3.52
%
Cost of interest bearing funds (tax equivalent)
0.54
%
0.42
%
0.45
%
0.48
%
0.47
%
Net interest margin (tax equivalent)
3.20
%
3.18
%
3.11
%
3.19
%
3.21
%
Efficiency ratio (tax equivalent)
53.77
%
53.25
%
53.17
%
53.51
%
51.76
%
Loan charge-offs
$
828
$
1,320
$
948
$
2,148
$
2,418
Recoveries
(786
)
(998
)
(1,554
)
(1,784
)
(2,847
)
Net charge-offs
$
42
$
322
$
(606
)
$
364
$
(429
)
Market Price: High
$
42.91
$
46.30
$
45.95
$
46.30
$
47.53
Low
$
39.10
$
40.53
$
39.76
$
39.10
$
36.02
Close
$
40.44
$
41.20
$
40.38
$
40.44
$
40.38
As of As of As of June 30, 2022 March 31, 2022 June 30, 2021
Assets: Loans
$
3,558,443
$
3,515,541
$
3,448,493
Loan loss reserve
(42,344
)
(42,309
)
(41,695
)
Net loans
3,516,099
3,473,232
3,406,798
Loans held for sale
936
1,941
4,912
Securities AFS
1,402,127
1,503,165
1,357,597
Equity securities at fair value
2,128
2,352
2,523
Other equity investments
13,026
13,026
13,915
Other earning assets
140,384
108,222
392,591
Cash and due from banks
75,373
58,352
63,917
Premises and equipment
40,704
40,738
40,391
Right of use asset
12,005
11,941
12,729
Goodwill and core deposit intangible
65,490
65,490
65,490
Other assets
179,078
164,674
133,300
Total Assets
$
5,447,350
$
5,443,133
$
5,494,163
Liabilities and Equity: Interest bearing checking
$
99,055
$
89,863
$
99,226
Savings deposits
1,915,166
1,867,282
1,877,857
CD's >=$100,000
573,519
590,476
561,269
Other time deposits
477,040
482,154
498,361
Total interest bearing deposits
3,064,780
3,029,775
3,036,713
Noninterest bearing deposits
1,408,148
1,398,529
1,286,989
Total deposits
4,472,928
4,428,304
4,323,702
Repurchase agreements
238,733
254,623
370,568
Other interest bearing liabilities
58,706
58,711
58,726
Lease liability
12,479
12,796
13,529
Other noninterest bearing liabilities
32,454
35,328
43,555
Total liabilities
4,815,300
4,789,762
4,810,080
Shareholders' equity
632,050
653,371
684,083
Total Liabilities and Equity
$
5,447,350
$
5,443,133
$
5,494,163
Ending shares outstanding
17,895
17,884
17,831
30 - 89 days past due loans
$
10,595
$
10,838
$
10,847
90 days past due loans
5,018
4,858
8,283
Nonaccrual loans
8,824
8,832
12,863
Restructured loans (excluding 90 days past due and nonaccrual)
75,264
70,814
66,887
Foreclosed properties
1,954
2,299
5,848
Community bank leverage ratio
13.14
%
13.15
%
12.45
%
Tangible equity to tangible assets ratio
10.53
%
10.93
%
11.39
%
FTE employees
958
963
961
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220720005240/en/
Mark A. Gooch Vice Chairman, President, and CEO Community Trust
Bancorp, Inc. (606) 437-3229
Community Trust Bancorp (NASDAQ:CTBI)
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