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Community Trust Bancorp, Inc. - CTBI STOCK NEWS

Welcome to our dedicated page for Community Trust Bancorp news (Ticker: CTBI), a resource for investors and traders seeking the latest updates and insights on Community Trust Bancorp stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Community Trust Bancorp's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Community Trust Bancorp's position in the market.

Rhea-AI Summary

Community Trust Bancorp, Inc. (NASDAQ: CTBI) reported earnings for Q2 2024. The net income was $19.5 million, or $1.09 per basic share, similar to Q2 2023 but up from $18.7 million in Q1 2024. Total revenue rose by $2.7 million from Q1 2024 and $3.6 million from Q2 2023. Key metrics include a net interest income of $45.7 million, a 4.8% increase from Q1 2024, and a 6.0% increase from Q2 2023. The net interest margin improved to 3.38%, up by 15 basis points from Q1 2024.

The loan portfolio grew by $100.1 million from Q1 2024, reaching $4.3 billion. Deposits decreased by $57.6 million from Q1 2024 but increased by $215.7 million from Q2 2023. Shareholders' equity rose by $11.6 million during the quarter, totaling $719.3 million. Nonperforming loans increased to $19.8 million from $15.9 million in Q1 2024 and $11.7 million in Q2 2023.

Net loan charge-offs were $1.4 million, down from $1.6 million in Q1 2024. The provision for credit losses increased by $0.3 million from Q1 2024, totaling $3.0 million. The allowance for credit losses remains at 1.22% of total loans outstanding.

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3.27%
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Rhea-AI Summary
Community Trust Bancorp, Inc. declared a cash dividend of $0.46 per share, to be paid on July 1, 2024, to shareholders of record on June 15, 2024. The company, with assets of $5.9 billion, operates in Kentucky, West Virginia, and Tennessee.
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0.93%
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Rhea-AI Summary
Community Trust Bancorp, Inc. (NASDAQ: CTBI) reported earnings for the 1st Quarter of 2024, with net income at $18.7 million, or $1.04 per basic share, showing a slight decrease from the previous quarter and year. Total revenue increased, with net interest revenue up but noninterest income down. Provision for credit losses rose, impacting noninterest expenses. Loan portfolio and deposits grew, while asset quality metrics showed an increase in nonperforming loans. The company's financial health remains stable, with a focus on managing problem loans effectively.
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Community Trust Bancorp, Inc. (NASDAQ: CTBI) declared a cash dividend of $0.46 per share, payable on April 1, 2024, to shareholders of record on March 15, 2024. The company, with assets of $5.8 billion, operates across Kentucky, West Virginia, and Tennessee.
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Community Trust Bancorp, Inc. (CTBI) appoints Jeff Sandlin to its Board of Directors. Sandlin brings extensive business experience and knowledge, having worked in the mining industry and as the COO of Perry Distributors, Inc. The company has assets of $5.8 billion and operates 70 banking locations across Kentucky, West Virginia, and Tennessee.
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-0.5%
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management
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Rhea-AI Summary
Community Trust Bancorp, Inc. (NASDAQ: CTBI) reported a decrease in net income and earnings per share for the fourth quarter of 2023 compared to the same period in 2022 and the previous quarter. The company's net interest revenue and noninterest income also saw a decrease. However, the loan portfolio and deposits showed an increase. The company's asset quality and allowance for credit losses remained stable.
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Community Trust Bancorp, Inc. (CTBI) announces the promotion of Nicholas Antimisiaris to Vice President, Corporate Information Security, Resilience and Data Officer of Community Trust Bank, Inc. Mr. Antimisiaris is responsible for establishing and maintaining an enterprise-wide security program to protect employees, data information assets, and facilities. With assets of $5.6 billion, Community Trust Bancorp, Inc. is headquartered in Pikeville, Kentucky, and has 70 banking locations across eastern, northeastern, central, and south central Kentucky, six banking locations in southern West Virginia, three banking locations in Tennessee, four trust offices across Kentucky, and one trust office in Tennessee.
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Community Trust Bancorp, Inc. (CTBI) announces the promotion of Mark Smith to Executive Vice President, Chief Credit Officer, and Jeremy Clark to Senior Vice President, Loan Review Manager. The company has also announced the retirement of James J. Gartner, the current Executive Vice President, Chief Credit Officer.
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Community Trust Bancorp, Inc. (NASDAQ: CTBI) appoints Dr. Lillian (Kay) Webb to its Board of Directors. Dr. Webb, with extensive experience in education and leadership, brings valuable knowledge to the company. Community Trust Bancorp, Inc. has $5.6 billion in assets and operates across multiple states, making it a significant player in the banking industry.
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-0.88%
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management
Rhea-AI Summary
Community Trust Bancorp, Inc. declares cash dividend of $0.46 per share
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2.24%
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Community Trust Bancorp, Inc.

Nasdaq:CTBI

CTBI Rankings

CTBI Stock Data

883.64M
18.03M
3.19%
61%
0.67%
Commercial Banking
Finance and Insurance
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United States of America
PIKEVILLE