Welcome to our dedicated page for Community Tr Bancorp news (Ticker: CTBI), a resource for investors and traders seeking the latest updates and insights on Community Tr Bancorp stock.
Community Trust Bancorp Inc (CTBI), a NASDAQ-listed regional bank holding company, provides centralized access to all official news and financial updates impacting its operations across Kentucky, West Virginia, and Tennessee. This page aggregates press releases, regulatory filings, and market analyses related to CTBI's commercial banking services, trust operations, and community development initiatives.
Investors and stakeholders will find timely updates on earnings reports, leadership changes, and strategic initiatives affecting this FDIC-insured institution. All content is sourced from verified channels to ensure accuracy in covering topics including loan portfolio developments, deposit growth trends, and wealth management service expansions.
Key updates include regulatory compliance announcements, merger/acquisition activity, dividend declarations, and community reinvestment programs. The curated collection enables users to track CTBI's performance in regional markets while monitoring industry trends in community banking and financial services.
Bookmark this page for streamlined access to CTBI's evolving story as a provider of personal banking solutions and commercial credit facilities in Appalachian markets. Check regularly for objective reporting on operational milestones and financial disclosures.
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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