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On April 25, 2023, Community Trust Bancorp, Inc. (NASDAQ: CTBI) declared a cash dividend of $0.44 per share. This dividend will be paid on July 1, 2023, to shareholders on record as of June 15, 2023. The company, headquartered in Pikeville, Kentucky, has total assets of $5.5 billion and operates 70 banking locations across parts of Kentucky, West Virginia, and Tennessee. This announcement reflects the company’s commitment to returning value to shareholders amid its expanding operations in the region.
Community Trust Bancorp, Inc. (NASDAQ-CTBI) reported a net income of $19.3 million for the first quarter of 2023, translating to $1.08 per basic share, a decrease from $22.4 million or $1.26 per share in Q4 2022. Year-over-year, income was down from $19.7 million or $1.11 per share. Total revenue of $44.2 million was up $2.6 million year-over-year, while noninterest income fell 8.6% compared to the previous year. The company experienced a loan portfolio growth of $68.1 million, an annualized increase of 7.4%. Notably, the efficiency ratio increased to 55.29% from 51.81%. Shareholders’ equity rose to $656.8 million, up 18.6% annualized. Overall, liquidity remains robust amidst recent banking sector challenges, with no significant changes in underwriting standards and a low level of nonperforming loans at $12.2 million.
On January 24, 2023, Community Trust Bancorp, Inc. (NASDAQ: CTBI) declared a cash dividend of $0.44 per share. This dividend will be paid on April 1, 2023, to shareholders on record as of March 15, 2023. Community Trust Bancorp has total assets of $5.4 billion and operates 70 banking locations across Kentucky, West Virginia, and Tennessee. The announcement reflects the company's commitment to shareholder returns and financial stability.
Community Trust Bancorp, Inc. (NASDAQ-CTBI) reported a net income of $22.4 million for Q4 2022, representing an increase from $19.4 million in Q3 2022 and $19.2 million in Q4 2021. Earnings per share improved to $1.26, up from $1.09 sequentially. The bank's net interest income rose to $44.7 million, a $1.2 million quarter-over-quarter increase, while noninterest income fell to $13.8 million. Yearly net income was $81.8 million, down from $87.9 million in 2021. Total loans increased by $78.7 million in Q4, and total deposits decreased by $123.6 million. Shareholders’ equity rose to $628 million, a 16.8% increase from the prior quarter.
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