Community Trust Bancorp Inc - CTBI STOCK NEWS

Community Trust Bancorp (NASDAQ:CTBI) reported 3Q 2021 earnings of $21.1 million, or $1.19 per share, a decrease from $23.9 million, or $1.35 per share in 2Q 2021, but an increase from $17.4 million, or $0.98 per share in 3Q 2020. Year-to-date earnings reached $68.7 million, up from $43.7 million in the same period last year. Net interest income rose to $42.0 million, reflecting a 5% rise from the prior quarter and an 11.5% increase year-over-year. Despite a $106 million decrease in deposits, total assets increased to $5.4 billion. Nonperforming loans decreased, reflecting improved asset quality.

Community Trust Bancorp (NASDAQ: CTBI) announces the retirement of Jean R. Hale as CEO effective February 7, 2022, after 23 years in the role. Mark A. Gooch, currently President, will succeed her as CEO and Director. During Hale's tenure, the company's assets grew 152% from $2.2 billion to $5.5 billion, and cash dividends increased 233% to $0.40 per share. Gooch, with 40 years of banking experience, expressed commitment to maintaining the company's strong financial performance and service excellence, ensuring a smooth leadership transition.

On July 27, 2021, Community Trust Bancorp (NASDAQ: CTBI) announced a quarterly cash dividend increase to $0.40 per share, effective October 1, 2021, for shareholders of record by September 15, 2021. This marks a 3.90% increase and the 41st consecutive year of dividend growth, highlighting the company's commitment to returning value to investors. Community Trust Bancorp manages assets totaling $5.5 billion and operates 70 banking locations across multiple states.

Community Trust Bancorp, Inc. (NASDAQ:CTBI) reported record earnings of $23.9 million, or $1.35 per share for Q2 2021, marking a rise from $23.6 million in Q1 2021 and $19.7 million in Q2 2020. YTD earnings reached $47.5 million compared to $26.2 million last year. Noninterest income of $15.5 million increased by 20.5% YoY, though net interest income fell to $40.0 million, down 0.6% QoQ. Total loans decreased by 10.2% annualized, while deposits increased by 9.3% during the quarter. Asset quality improved with net recoveries of loan losses and a significant reduction in nonperforming loans.

On April 27, 2021, Community Trust Bancorp, Inc. (NASDAQ:CTBI) declared a cash dividend of $0.385 per share. This payment is scheduled for July 1, 2021, to shareholders on record as of June 15, 2021. The company holds assets totalling $5.4 billion and operates 70 banking locations across Kentucky, West Virginia, and Tennessee, showcasing its significant presence in the region.

Community Trust Bancorp (NASDAQ: CTBI) reported record earnings for 1Q 2021 with a net income of $23.6 million, up from $15.8 million in 4Q 2020 and $6.6 million in 1Q 2020. Earnings per share rose to $1.33 from $0.89 in the previous quarter. Net interest income increased by 4.2% sequentially to $40.2 million. Asset quality improved with nonperforming loans decreasing to $21 million, a drop of 14.3% year-over-year. Deposits surged by $216.1 million, or 20.0%, from the prior quarter. The bank also recognized a $2.5 million credit in provisions for credit losses, indicating better loan performance.

On January 26, 2021, Community Trust Bancorp (NASDAQ: CTBI) announced a cash dividend of $0.385 per share, scheduled for payment on April 1, 2021. This dividend will benefit shareholders who are on record by March 15, 2021. Community Trust Bancorp, with total assets of $5.1 billion, operates 70 banking locations in Kentucky, six in West Virginia, and three in Tennessee, demonstrating its strong regional presence.

Community Trust Bancorp, Inc. (CTBI) reported a 4Q 2020 net income of $15.8 million ($0.89 per share), a decline from $17.4 million ($0.98) in 3Q 2020 and $16.0 million ($0.90) in 4Q 2019. Full-year earnings fell to $59.5 million ($3.35 per share) from $64.5 million ($3.64) in 2019. Net interest income rose to $38.6 million, a 2.5% increase from the previous quarter. Deposits surged by 20.4% year-over-year to $4.4 billion. However, noninterest expense rose 14.1% quarter-over-quarter, impacting profitability.

Community Trust Bancorp (NASDAQ: CTBI) has been recognized as a Winning 'W' company by 2020 Women on Boards, achieving over 20% representation of women on its board of directors. The recognition highlights the commitment of Community Trust to gender diversity in corporate governance. Ms. Jean R. Hale, the company's Chairman, President, and CEO, expressed pride in this acknowledgment, reflecting the company's core values of fairness, respect, and integrity. Community Trust Bancorp, with $5.0 billion in assets, operates 70 banking locations across Kentucky, West Virginia, and Tennessee.