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Community Trust Bancorp, Inc. reports recurring developments for a regional bank holding company serving small and mid-sized communities in Kentucky, southern West Virginia and northeastern Tennessee. News releases focus on community banking results, loan and deposit trends, net interest income, credit-loss provision activity and noninterest income categories such as deposit fees, trust and wealth management income, brokerage revenue and bank-owned life insurance revenue.
The company also announces quarterly cash dividends and governance updates involving its board, executive leadership and wholly owned bank subsidiary, Community Trust Bank, Inc. Its updates reflect a business centered on commercial and personal banking, secured and unsecured lending, cash management, funds transfer services and trust and wealth management operations.
Community Trust Bancorp (NASDAQ: CTBI) has declared a quarterly cash dividend of $0.47 per share, as announced by its Board of Directors on April 22, 2025. The dividend will be paid on July 1, 2025, to shareholders of record on June 15, 2025.
The company, with assets of $6.3 billion, maintains a strong regional presence with 72 banking locations across Kentucky, six in southern West Virginia, and three in northeastern Tennessee. Additionally, it operates four trust offices in Kentucky and one in Tennessee.
Community Trust Bancorp (NASDAQ:CTBI) reported Q1 2025 earnings of $22.0 million, or $1.22 per basic share, compared to $22.5 million ($1.25/share) in Q4 2024 and $18.7 million ($1.04/share) in Q1 2024.
Key financial metrics include:
- Net interest income increased to $51.3 million, up 3.5% from prior quarter and 17.6% year-over-year
- Net interest margin improved to 3.57%, up 14 basis points quarterly
- Total loans grew to $4.6 billion, increasing 13.5% annualized from Q4 2024
- Deposits reached $5.4 billion, up 3.6% annualized quarterly
- Return on average assets was 1.44% compared to 1.47% in Q4 2024
Asset quality metrics showed nonperforming loans at $26.5 million, slightly down from $26.7 million in Q4 2024, with net charge-offs at 0.14% of average loans. The allowance for credit losses remained stable at 1.23% of total loans.
Community Trust Bancorp (NASDAQ: CTBI) has declared a quarterly cash dividend of $0.47 per share, as announced by its Board of Directors on January 28, 2025. The dividend will be paid on April 1, 2025, to shareholders of record as of March 15, 2025.
The company, headquartered in Pikeville, Kentucky, maintains assets of $6.2 billion and operates 72 banking locations across Kentucky, six in southern West Virginia, and three in northeastern Tennessee. Additionally, it manages four trust offices in Kentucky and one in Tennessee.
Community Trust Bancorp (NASDAQ:CTBI) reported Q4 2024 earnings of $22.5 million, or $1.25 per share, compared to $22.1 million ($1.23/share) in Q3 2024 and $18.7 million ($1.04/share) in Q4 2023. Total revenue increased by $2.9 million from the previous quarter and $9.0 million year-over-year.
For the full year 2024, net income reached $82.8 million ($4.61 per share), up from $78.0 million ($4.36 per share) in 2023. The loan portfolio grew to $4.5 billion, increasing by $435.7 million (10.8%) year-over-year, while deposits including repurchase agreements rose to $5.3 billion, up 7.3% from 2023.
Net interest income for Q4 2024 was $49.5 million, up 4.9% quarter-over-quarter and 15.2% year-over-year. The net interest margin improved to 3.43%, while nonperforming loans increased to $26.7 million from $14.0 million in Q4 2023.
Community Trust Bancorp (NASDAQ:CTBI) has declared a cash dividend of $0.47 per share, payable on January 2, 2025, to shareholders of record on December 15, 2024. The company, with $6 billion in assets, operates 72 banking locations across Kentucky, six in West Virginia, and three in Tennessee, along with five trust offices across Kentucky and Tennessee.
Community Trust Bancorp, Inc. (NASDAQ-CTBI) reported earnings of $22.1 million for the third quarter of 2024, or $1.23 per basic share, compared to $19.5 million ($1.09 per share) in Q2 2024 and $20.6 million ($1.15 per share) in Q3 2023. Key highlights include:
- Net interest income increased to $47.2 million, up 3.3% from Q2 and 9.4% year-over-year
- Loan portfolio grew to $4.4 billion, up 8.3% annualized from Q2 and 9.2% year-over-year
- Deposits, including repurchase agreements, increased to $5.1 billion, up 8.8% annualized from Q2 and 4.3% year-over-year
- Nonperforming loans increased to $25.1 million from $19.8 million in Q2 and $13.0 million in Q3 2023
- Net loan charge-offs were $1.5 million, or 0.14% of average loans annualized
- The allowance for credit losses to total loans ratio stood at 1.23%
Community Trust Bancorp (NASDAQ: CTBI) has announced a 2.2% increase in its quarterly cash dividend to $0.47 per share. This marks the 44th consecutive year of dividend increases for the company. The new dividend will be payable on October 1, 2024, to shareholders of record as of September 15, 2024.
Chairman, President, and CEO Mark A. Gooch expressed satisfaction with the company's ability to consistently increase shareholder returns. CTBI, headquartered in Pikeville, Kentucky, boasts assets of $5.8 billion and operates 72 banking locations across Kentucky, 6 in West Virginia, and 3 in Tennessee. The company also maintains 5 trust offices across Kentucky and Tennessee.
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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