Community Trust Bancorp, Inc. (NASDAQ:CTBI):
Earnings Summary
(in thousands except per share data)
3Q
2022
2Q
2022
3Q
2021
YTD
2022
YTD
2021
Net income
$19,372
$20,271
$21,142
$59,371
$68,691
Earnings per share
$1.09
$1.14
$1.19
$3.33
$3.86
Earnings per share - diluted
$1.08
$1.14
$1.19
$3.33
$3.86
Return on average assets
1.40%
1.49%
1.54%
1.46%
1.71%
Return on average equity
12.08%
12.75%
12.06%
12.20%
13.55%
Efficiency ratio
53.70%
53.77%
53.50%
53.58%
52.35%
Tangible common equity
9.93%
10.53%
11.77%
Dividends declared per share
$0.44
$0.40
$0.40
$1.24
$1.17
Book value per share
$33.66
$35.32
$38.78
Weighted average shares
17,841
17,835
17,790
17,832
17,783
Weighted average shares - diluted
17,857
17,843
17,808
17,844
17,798
Community Trust Bancorp, Inc. (NASDAQ-CTBI) achieved earnings
for the third quarter 2022 of $19.4 million, or $1.09 per basic
share, compared to $20.3 million, or $1.14 per basic share, earned
during the second quarter 2022 and $21.1 million, or $1.19 per
basic share, earned during the third quarter 2021. Total revenue
was $2.9 million above prior quarter and $1.8 million above prior
year same quarter. Net interest revenue increased $2.7 million
compared to prior quarter and $1.5 million compared to prior year
same quarter, and noninterest income increased $0.2 million
compared to prior quarter and $0.3 million compared to prior year
same quarter. Provision for credit losses for the quarter was $2.4
million, compared to provision of $0.1 million for the quarter
ended June 30, 2022 and a recovery of provision of $0.2 million for
the third quarter 2021. Noninterest expense increased $1.5 million
compared to prior quarter and $1.1 million compared to prior year
same quarter. Net income for the nine months ended September 30,
2022 was below prior year by $9.3 million, primarily due to the
$6.9 million recovery of provision for credit losses taken in 2021
and the $4.2 million decline in gains on sales of loans.
3rd Quarter 2022 Highlights
- Net interest income for the quarter of $43.5 million was $2.7
million above prior quarter and $1.5 million above prior year same
quarter.
- Provision for credit losses for the quarter was $2.4 million,
compared to provision of $0.1 million for the quarter ended June
30, 2022 and a recovery of provision of $0.2 million for the third
quarter 2021.
- Our loan portfolio increased $72.2 million, an annualized 8.0%,
from June 30, 2022 and $232.4 million, or 6.8%, from September 30,
2021.
- Net loan charge-offs were $0.3 million, or 0.04% of average
loans annualized, for the quarter ended September 30, 2022 compared
to $0.04 million, or less than 0.01% of average loans annualized,
for the second quarter 2022 and $0.3 million, or 0.04% of average
loans annualized for the quarter ended September 30, 2021.
- Our nonperforming loans, excluding troubled debt
restructurings, decreased slightly to $13.7 million at September
30, 2022 from $13.8 million at June 30, 2022 but were $5.0 million
below the $18.7 million at September 30, 2021. Nonperforming assets
at $15.6 million decreased $0.2 million from June 30, 2022 and $7.5
million from September 30, 2021.
- Deposits, including repurchase agreements, at $4.8 billion
increased $53.5 million, or an annualized 4.5%, from June 30, 2022
and $176.9 million, or 3.9%, from September 30, 2021.
- Shareholders’ equity declined $29.5 million, or an annualized
18.5%, during the quarter and $89.1 million, or 12.9%, from
September 30, 2021, as a result of the continued increase in
unrealized losses on our securities portfolio.
- Noninterest income for the quarter ended September 30, 2022 of
$14.7 million was $0.2 million, or 1.2%, above prior quarter and
$0.3 million, or 2.0%, above prior year same quarter.
- Noninterest expense for the quarter ended September 30, 2022 of
$31.5 million was $1.5 million, or 5.0%, higher than prior quarter
and $1.1 million, or 3.8%, above prior year same quarter.
Net Interest Income
Percent Change
3Q 2022 Compared to:
($ in thousands)
3Q
2022
2Q
2022
3Q
2021
2Q
2022
3Q
2021
YTD
2022
YTD
2021
Percent Change
Components of net interest income:
Income on earning assets
$51,405
$45,352
$45,726
13.3%
12.4%
$140,284
$133,812
4.8%
Expense on interest bearing
liabilities
7,869
4,562
3,712
72.5%
112.0%
15,926
11,549
37.9%
Net interest income
43,536
40,790
42,014
6.7%
3.6%
124,358
122,263
1.7%
TEQ
240
233
226
3.0%
6.2%
707
673
5.1%
Net interest income, tax equivalent
$43,776
$41,023
$42,240
6.7%
3.6%
$125,065
$122,936
1.7%
Average yield and rates paid:
Earning assets yield
3.97%
3.56%
3.52%
11.6%
12.8%
3.66%
3.52%
4.1%
Rate paid on interest bearing
liabilities
0.93%
0.54%
0.43%
71.4%
115.2%
0.63%
0.46%
39.1%
Gross interest margin
3.04%
3.02%
3.09%
0.7%
(1.6%)
3.03%
3.06%
(1.0%)
Net interest margin
3.36%
3.20%
3.23%
5.1%
4.1%
3.25%
3.22%
1.0%
Average balances:
Investment securities
$1,380,881
$1,452,021
$1,511,178
(4.9%)
(8.6%)
$1,438,769
$1,266,850
13.6%
Loans
$3,568,174
$3,538,324
$3,400,194
0.8%
4.9%
$3,516,114
$3,480,860
1.0%
Earning assets
$5,163,624
$5,140,656
$5,184,749
0.4%
(0.4%)
$5,146,251
$5,109,934
0.7%
Interest-bearing liabilities
$3,359,242
$3,373,741
$3,410,286
(0.4%)
(1.5%)
$3,361,097
$3,390,178
(0.9%)
Net interest income for the quarter of $43.5 million was $2.7
million above prior quarter and $1.5 million above prior year same
quarter. Our net interest margin, on a fully tax equivalent basis,
at 3.36% increased 16 basis points from prior quarter and 13 basis
points from prior year same quarter, as our average earning assets
increased $23.0 million from prior quarter but decreased $21.1
million from prior year same quarter. Our yield on average earning
assets increased 41 basis points from prior quarter and 45 basis
points from prior year same quarter, and our cost of funds
increased 39 basis points from prior quarter and 50 basis points
from prior year same quarter. Noninterest bearing deposits
increased $72.9 million over prior quarter and $162.9 million over
prior year. Net interest income for the nine months ended September
30, 2022 increased $2.1 million or 1.7% from the nine months ended
September 30, 2021.
Our ratio of average loans to deposits, including repurchase
agreements, was 75.4% for the quarter ended September 30, 2022
compared to 75.2% for the quarter ended June 30, 2022 and 73.1% for
the quarter ended September 30, 2021.
Noninterest Income
Percent Change
3Q 2022 Compared to:
($ in thousands)
3Q
2022
2Q
2022
3Q
2021
2Q
2022
3Q
2021
YTD
2022
YTD
2021
Percent Change
Deposit related fees
$7,629
$7,263
$7,066
5.0%
8.0%
$21,638
$19,446
11.3%
Trust revenue
2,989
3,198
3,039
(6.5%)
(1.6%)
9,435
9,339
1.0%
Gains on sales of loans
235
519
1,239
(54.7%)
(81.0%)
1,351
5,579
(75.8%)
Loan related fees
1,589
1,415
1,050
12.3%
51.3%
5,066
4,324
17.2%
Bank owned life insurance revenue
743
702
654
5.8%
13.6%
2,136
1,808
18.1%
Brokerage revenue
453
459
519
(1.3%)
(12.8%)
1,502
1,530
(1.8%)
Other
1,041
945
821
10.3%
26.9%
3,017
3,460
(12.8%)
Total noninterest income
$14,679
$14,501
$14,388
1.2%
2.0%
$44,145
$45,486
(2.9%)
Noninterest income for the quarter ended September 30, 2022 of
$14.7 million was $0.2 million, or 1.2%, above prior quarter and
$0.3 million, or 2.0%, above prior year same quarter. The quarter
over quarter increase included a $0.4 million increase in deposit
related fees and a $0.2 million increase in loan related fees,
partially offset by a $0.3 million decrease in gains on sales of
loans and a $0.2 million decrease in trust revenue. Year-to-date
noninterest income decreased $1.3 million from the nine months
ended September 30, 2021 due to a $4.2 million decline in gains on
sales of loans, partially offset by a $2.2 million increase in
deposit related fees and a $0.7 million increase in loan related
fees. Gains on sales of loans continue to be impacted by the
slowdown in the industry-wide mortgage refinancing boom. Deposit
related fees were primarily impacted by debit card income and
overdraft charges. Loan related fees were primarily impacted by the
change in the fair market value of mortgage servicing rights. The
decrease in trust revenue quarter over quarter was due to the
decline in the market value of managed assets.
Noninterest Expense
Percent Change
3Q 2022 Compared to:
($ in thousands)
3Q
2022
2Q
2022
3Q
2021
2Q
2022
3Q
2021
YTD
2022
YTD
2021
Percent Change
Salaries
$12,537
$12,219
$11,962
2.6%
4.8%
$36,495
$35,080
4.0%
Employee benefits
6,009
6,315
6,891
(4.8%)
(12.8%)
18,123
19,566
(7.4%)
Net occupancy and equipment
2,897
2,756
2,733
5.1%
6.0%
8,507
8,229
3.4%
Data processing
2,270
2,095
1,911
8.3%
18.8%
6,566
5,940
10.5%
Legal and professional fees
752
884
685
(15.0%)
9.7%
2,503
2,331
7.4%
Advertising and marketing
769
659
819
16.7%
(6.1%)
2,180
2,251
(3.2%)
Taxes other than property and payroll
422
425
464
(0.8%)
(9.1%)
1,274
1,209
5.4%
Net other real estate owned expense
41
43
296
(4.3%)
(86.2%)
438
1,102
(60.2%)
Other
5,778
4,582
4,567
26.1%
26.5%
14,726
12,428
18.5%
Total noninterest expense
$31,475
$29,978
$30,328
5.0%
3.8%
$90,812
$88,136
3.0%
Noninterest expense for the quarter ended September 30, 2022 of
$31.5 million was $1.5 million, or 5.0%, higher than prior quarter
and $1.1 million, or 3.8%, above prior year same quarter. The
increase in noninterest expense quarter over quarter was primarily
the result of a $1.4 million accrual for customer refunds of
re-presented returned item fees. Noninterest expense for the nine
months ended September 30, 2022 was $2.7 million higher than the
nine months ended September 30, 2021.
Balance Sheet Review
Total Loans
Percent Change
3Q 2022 Compared to:
($ in thousands)
3Q
2022
2Q
2022
3Q
2021
2Q
2022
3Q
2021
Commercial nonresidential real estate
$756,138
$758,227
$732,442
(0.3%)
3.2%
Commercial residential real estate
359,643
354,668
330,660
1.4%
8.8%
Hotel/motel
335,253
280,956
252,951
19.3%
32.5%
SBA guaranteed PPP loans
1,958
7,788
99,116
(74.9%)
(98.0%)
Other commercial
383,398
395,876
347,632
(3.2%)
10.3%
Total commercial
1,836,390
1,797,515
1,762,801
2.2%
4.2%
Residential mortgage
814,944
793,249
763,005
2.7%
6.8%
Home equity loans/lines
115,400
110,828
105,007
4.1%
9.9%
Total residential
930,344
904,077
868,012
2.9%
7.2%
Consumer indirect
703,016
697,060
612,394
0.9%
14.8%
Consumer direct
160,866
159,791
155,022
0.7%
3.8%
Total consumer
863,882
856,851
767,416
0.8%
12.6%
Total loans
$3,630,616
$3,558,443
$3,398,229
2.0%
6.8%
Total Deposits and Repurchase
Agreements
Percent Change
3Q 2022 Compared to:
($ in thousands)
3Q
2022
2Q
2022
3Q
2021
2Q
2022
3Q
2021
Non-interest bearing deposits
$1,481,078
$1,408,148
$1,318,158
5.2%
12.4%
Interest bearing deposits
Interest checking
100,680
99,055
90,657
1.6%
11.1%
Money market savings
1,268,682
1,243,817
1,210,551
2.0%
4.8%
Savings accounts
683,697
671,349
616,561
1.8%
10.9%
Time deposits
1,000,931
1,050,559
1,060,309
(4.7%)
(5.6%)
Repurchase agreements
230,123
238,733
292,022
(3.6%)
(21.2%)
Total interest bearing deposits and
repurchase agreements
3,284,113
3,303,513
3,270,100
(0.6%)
0.4%
Total deposits and repurchase
agreements
$4,765,191
$4,711,661
$4,588,258
1.1%
3.9%
CTBI’s total assets at $5.5 billion increased $27.0 million, or
2.0% annualized, from June 30, 2022 and $88.8 million, or 1.6%,
from September 30, 2021. Loans outstanding at September 30, 2022
were $3.6 billion, an increase of $72.2 million, an annualized
8.0%, from June 30, 2022 and $232.4 million, or 6.8%, from
September 30, 2021. The increase in loans included a $38.9 million
increase in the commercial loan portfolio, a $26.3 million increase
in the residential loan portfolio, a $5.9 million increase in the
indirect consumer loan portfolio, and a $1.1 million increase in
the consumer direct loan portfolio. CTBI’s investment portfolio
decreased $103.7 million, or an annualized 29.3%, from June 30,
2022 and $227.6 million, or 14.9%, from September 30, 2021.
Deposits in other banks increased $62.8 million from prior quarter
and $58.4 million from prior year same quarter. Deposits, including
repurchase agreements, at $4.8 billion increased $53.5 million, or
an annualized 4.5%, from June 30, 2022 and $176.9 million, or 3.9%,
from September 30, 2021.
Shareholders’ equity declined $29.5 million, or an annualized
18.5%, during the quarter and $89.1 million, or 12.9%, from
September 30, 2021, as a result of the continued increase in
unrealized losses on our securities portfolio due to the current
increasing interest rate environment. Management has the ability
and intent to hold these securities to recovery or maturity. We
experienced a $41.5 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 September
30, 2022 was 4.34%.
Asset Quality
Our total nonperforming loans, excluding troubled debt
restructurings, decreased slightly to $13.7 million at September
30, 2022 from $13.8 million at June 30, 2022 but were $5.0 million
below the $18.7 million at September 30, 2021. Accruing loans 90+
days past due at $5.6 million increased $0.5 million from prior
quarter but decreased $1.1 million from September 30, 2021.
Nonaccrual loans at $8.1 million decreased $0.7 million from prior
quarter and $3.9 million from September 30, 2021. Accruing loans
30-89 days past due at $12.1 million increased $1.5 million from
prior quarter and $3.2 million from September 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 $1.9 million at
September 30, 2022 compared to $2.0 million at June 30, 2022 and
$4.3 million at September 30, 2021. Sales of foreclosed properties
for the quarter ended September 30, 2022 totaled $0.1 million while
new foreclosed properties totaled $0.03 million. At September 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 $0.3 million, or 0.04% of average
loans annualized, for the quarter ended September 30, 2022 compared
to $0.04 million, or less than 0.01% of average loans annualized,
for the second quarter 2022 and $0.3 million, or 0.04% of average
loans annualized for the quarter ended September 30, 2021.
Year-to-date net loan charge-offs were $0.7 million, or 0.03% of
average loans annualized, compared to a net recovery of loan
charge-offs of $0.1 million for the first nine months of 2021.
Allowance for Credit Losses
Provision for credit losses for the quarter was $2.4 million,
compared to provision of $0.1 million for the quarter ended June
30, 2022 and a recovery of provision of $0.2 million for the third
quarter 2021. Year-to-date provision was $3.4 million compared to a
recovery of $6.9 million during the first nine months of 2021. Our
reserve coverage (allowance for credit losses to nonperforming
loans) at September 30, 2022 was 324.5% compared to 305.9% at June
30, 2022 and 220.0% at September 30, 2021. Our credit loss reserve
as a percentage of total loans outstanding at September 30, 2022
was 1.22% compared to 1.19% at June 30, 2022 and 1.21% at September
30, 2021.
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 $5.5 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) September 30, 2022 (in thousands except per
share data and # of employees) Three Three Three Nine Nine
Months Months Months Months Months Ended Ended Ended Ended Ended
September 30, 2022 June 30, 2022 September 30, 2021 September 30,
2022 September 30, 2021 Interest income
$
51,405
$
45,352
$
45,726
$
140,284
$
133,812
Interest expense
7,869
4,562
3,712
15,926
11,549
Net interest income
43,536
40,790
42,014
124,358
122,263
Loan loss provision
2,414
77
(163)
3,366
(6,919)
Gains on sales of loans
235
519
1,239
1,351
5,579
Deposit related fees
7,629
7,263
7,066
21,638
19,446
Trust revenue
2,989
3,198
3,039
9,435
9,339
Loan related fees
1,589
1,415
1,050
5,066
4,324
Securities gains (losses)
(159)
(225)
(62)
(285)
50
Other noninterest income
2,396
2,331
2,056
6,940
6,748
Total noninterest income
14,679
14,501
14,388
44,145
45,486
Personnel expense
18,546
18,534
18,853
54,618
54,646
Occupancy and equipment
2,897
2,756
2,733
8,507
8,229
Data processing expense
2,270
2,095
1,911
6,566
5,940
FDIC insurance premiums
360
358
393
1,073
1,042
Other noninterest expense
7,402
6,235
6,438
20,048
18,279
Total noninterest expense
31,475
29,978
30,328
90,812
88,136
Net income before taxes
24,326
25,236
26,237
74,325
86,532
Income taxes
4,954
4,965
5,095
14,954
17,841
Net income
$
19,372
$
20,271
$
21,142
$
59,371
$
68,691
Memo: TEQ interest income
$
51,645
$
45,584
$
45,952
$
140,991
$
134,485
Average shares outstanding
17,841
17,835
17,790
17,832
17,783
Diluted average shares outstanding
17,857
17,843
17,808
17,844
17,798
Basic earnings per share
$
1.09
$
1.14
$
1.19
$
3.33
$
3.86
Diluted earnings per share
$
1.08
$
1.14
$
1.19
$
3.33
$
3.86
Dividends per share
$
0.440
$
0.400
$
0.400
$
1.240
$
1.170
Average balances: Loans
$
3,568,174
$
3,538,324
$
3,400,194
$
3,516,114
$
3,480,860
Earning assets
5,163,624
5,140,656
5,184,749
5,146,251
5,109,934
Total assets
5,477,596
5,446,263
5,457,558
5,447,439
5,376,588
Deposits, including repurchase agreements
4,733,393
4,705,492
4,650,885
4,691,322
4,585,812
Interest bearing liabilities
3,359,242
3,373,741
3,410,286
3,361,097
3,390,178
Shareholders' equity
636,038
637,542
695,490
650,877
677,632
Performance ratios: Return on average assets
1.40%
1.49%
1.54%
1.46%
1.71%
Return on average equity
12.08%
12.75%
12.06%
12.20%
13.55%
Yield on average earning assets (tax equivalent)
3.97%
3.56%
3.52%
3.66%
3.52%
Cost of interest bearing funds (tax equivalent)
0.93%
0.54%
0.43%
0.63%
0.46%
Net interest margin (tax equivalent)
3.36%
3.20%
3.23%
3.25%
3.22%
Efficiency ratio (tax equivalent)
53.70%
53.77%
53.50%
53.58%
52.35%
Loan charge-offs
$
1,203
$
828
$
1,042
$
3,351
$
3,460
Recoveries
(878)
(786)
(725)
(2,662)
(3,572)
Net charge-offs
$
325
$
42
$
317
$
689
$
(112)
Market Price: High
$
45.37
$
42.91
$
42.95
$
46.30
$
47.53
Low
$
39.65
$
39.10
$
38.20
$
39.10
$
36.02
Close
$
40.55
$
40.44
$
42.10
$
40.55
$
42.10
As of As of As of September 30, 2022 June 30, 2022 September
30, 2021
Assets: Loans
$
3,630,616
$
3,558,443
$
3,398,229
Loan loss reserve
(44,433)
(42,344)
(41,215)
Net loans
3,586,183
3,516,099
3,357,014
Loans held for sale
1,043
936
12,056
Securities AFS
1,298,592
1,402,127
1,525,738
Equity securities at fair value
1,969
2,128
2,461
Other equity investments
11,563
13,026
13,026
Other earning assets
201,196
140,384
143,789
Cash and due from banks
60,527
75,373
66,075
Premises and equipment
41,593
40,704
40,145
Right of use asset
12,131
12,005
12,399
Goodwill and core deposit intangible
65,490
65,490
65,490
Other assets
194,051
179,078
147,392
Total Assets
$
5,474,338
$
5,447,350
$
5,385,585
Liabilities and Equity: Interest bearing checking
$
100,680
$
99,055
$
90,657
Savings deposits
1,952,379
1,915,166
1,827,112
CD's >=$100,000
537,233
573,519
565,869
Other time deposits
463,698
477,040
494,440
Total interest bearing deposits
3,053,990
3,064,780
2,978,078
Noninterest bearing deposits
1,481,078
1,408,148
1,318,158
Total deposits
4,535,068
4,472,928
4,296,236
Repurchase agreements
230,123
238,733
292,022
Other interest bearing liabilities
58,701
58,706
58,721
Lease liability
12,636
12,479
13,229
Other noninterest bearing liabilities
35,250
32,454
33,734
Total liabilities
4,871,778
4,815,300
4,693,942
Shareholders' equity
602,560
632,050
691,643
Total Liabilities and Equity
$
5,474,338
$
5,447,350
$
5,385,585
Ending shares outstanding
17,901
17,895
17,837
30 - 89 days past due loans
$
12,058
$
10,595
$
8,874
90 days past due loans
5,554
5,018
6,650
Nonaccrual loans
8,138
8,824
12,084
Restructured loans (excluding 90 days past due and nonaccrual)
79,092
75,264
70,932
Foreclosed properties
1,864
1,954
4,314
Community bank leverage ratio
13.24%
13.14%
12.71%
Tangible equity to tangible assets ratio
9.93%
10.53%
11.77%
FTE employees
964
958
960
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221019005271/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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