Community Trust Bancorp, Inc. (NASDAQ-CTBI):
Earnings Summary
(in thousands except per share data)
4Q
2023
3Q
2023
4Q
2022
Year
2023
Year
2022
Net income
$
18,659
$
20,628
$
22,443
$
78,004
$
81,814
Earnings per share
$
1.04
$
1.15
$
1.26
$
4.36
$
4.59
Earnings per share – diluted
$
1.04
$
1.15
$
1.26
$
4.36
$
4.58
Return on average assets
1.30
%
1.46
%
1.64
%
1.40
%
1.50
%
Return on average equity
10.98
%
12.30
%
14.42
%
11.75
%
12.73
%
Efficiency ratio
55.74
%
52.66
%
51.81
%
54.29
%
53.12
%
Tangible common equity
11.16
%
10.55
%
10.58
%
Dividends declared per share
$
0.46
$
0.46
$
0.44
$
1.80
$
1.68
Book value per share
$
39.01
$
36.30
$
35.05
Weighted average shares
17,901
17,893
17,848
17,887
17,836
Weighted average shares - diluted
17,926
17,904
17,872
17,900
17,851
Community Trust Bancorp, Inc. (NASDAQ-CTBI) achieved earnings
for the fourth quarter 2023 of $18.7 million, or $1.04 per basic
share, compared to $20.6 million, or $1.15 per basic share, earned
during the third quarter 2023 and $22.4 million, or $1.26 per basic
share, earned during the fourth quarter 2022. Total revenue was
$1.9 million below prior quarter and $1.8 million below prior year
same quarter. Net interest revenue decreased $0.2 million compared
to prior quarter and $1.8 million compared to prior year same
quarter, and noninterest income decreased $1.8 million compared to
prior quarter but remained relatively flat compared to prior year
same quarter. Our provision for credit losses for the quarter
decreased $0.1 million from prior quarter but increased $0.3
million from prior year fourth quarter. Noninterest expense
increased $0.8 million compared to prior quarter and $1.4 million
compared to prior year same quarter. Earnings for the year ended
December 31, 2023 were $78.0 million, or $4.36 per basic share,
compared to $81.8 million, or $4.59 per basic share for the year
ended December 31, 2022. Year over year earnings were impacted by
increases in provision for loan losses and noninterest expense and
a decrease in noninterest income.
4th Quarter 2023 Highlights
- Net interest income for the quarter of $43.0 million was $0.2
million below prior quarter and $1.8 million below prior year same
quarter, as our net interest margin decreased 8 basis points from
prior quarter and 32 basis points from prior year same
quarter.
- Provision for credit losses at $1.8 million for the quarter
decreased $0.1 million from prior quarter but increased $0.3
million from prior year same quarter.
- Our loan portfolio at $4.1 billion increased $65.9 million, an
annualized 6.6%, from September 30, 2023 and $341.6 million, or
9.2%, from December 31, 2022.
- We had net loan charge-offs of $1.0 million, or 0.10% of
average loans annualized, for the fourth quarter 2023 compared to
$1.2 million, or 0.12% of average loans annualized, for the third
quarter 2023 and a net recovery of loan charge-offs of $9 thousand
for the fourth quarter 2022.
- Our total nonperforming loans increased to $14.0 million at
December 31, 2023 from $13.0 million at September 30, 2023 but
decreased from $15.3 million at December 31, 2022. Nonperforming
assets at $15.6 million increased $0.4 million from September 30,
2023 but decreased $3.4 million from December 31, 2022.
- Deposits, including repurchase agreements, at $4.9 billion
increased $89.4 million, or an annualized 7.3%, from September 30,
2023 and $308.3 million, or 6.6% from December 31, 2022.
- Shareholders’ equity at $702.2 million increased $49.2 million,
or an annualized 29.9%, during the quarter and $74.2 million, or
11.8%, from December 31, 2022.
- Net unrealized losses on securities, net of deferred taxes,
decreased to $103.3 million at December 31, 2023, compared to
$141.4 million at September 30, 2023 and $129.2 million at December
31, 2022.
- Noninterest income for the quarter ended December 31, 2023 of
$13.7 million was $1.8 million, or 11.4%, below prior quarter but
relatively flat to prior year same quarter.
- Noninterest expense for the quarter ended December 31, 2023 of
$31.6 million was $0.8 million, or 2.5%, above prior quarter and
$1.4 million, or 4.5%, above prior year same quarter.
Net Interest Income
Percent Change
4Q 2023
Compared to:
($ in thousands)
4Q
2023
3Q
2023
4Q
2022
3Q
2023
4Q
2022
Year
2023
Year
2022
Percent Change
Components of net interest income:
Income on earning assets
$
73,329
$
69,499
$
57,458
5.5
%
27.6
%
$
268,650
$
197,742
35.9
%
Expense on interest bearing
liabilities
30,354
26,359
12,714
15.2
%
138.8
%
95,540
28,640
233.6
%
Net interest income
42,975
43,140
44,744
(0.4
%)
(4.0
%)
173,110
169,102
2.4
%
TEQ
297
298
249
(0.4
%)
19.3
%
1,191
956
24.6
%
Net interest income, tax equivalent
$
43,272
$
43,438
$
44,993
(0.4
%)
(3.8
%)
$
174,301
$
170,058
2.5
%
Average yield and rates paid:
Earning assets yield
5.43
%
5.25
%
4.51
%
3.5
%
20.5
%
5.15
%
3.87
%
33.1
%
Rate paid on interest bearing
liabilities
3.27
%
2.93
%
1.52
%
11.4
%
115.1
%
2.72
%
0.85
%
220.0
%
Gross interest margin
2.16
%
2.32
%
2.99
%
(6.9
%)
(27.8
%)
2.43
%
3.02
%
(19.6
%)
Net interest margin
3.19
%
3.27
%
3.51
%
(2.3
%)
(9.2
%)
3.32
%
3.32
%
0.0
%
Average balances:
Investment securities
$
1,144,078
$
1,178,707
$
1,284,470
(2.9
%)
(10.9
%)
$
1,200,965
$
1,399,877
(14.2
%)
Loans
4,022,547
3,952,096
3,662,221
1.8
%
9.8
%
3,888,585
3,552,941
9.4
%
Earning assets
5,377,827
5,274,542
5,079,176
2.0
%
5.9
%
5,244,128
5,129,345
2.2
%
Interest-bearing liabilities
3,687,660
3,567,343
3,321,914
3.4
%
11.0
%
3,514,142
3,351,221
4.9
%
Net interest income for the quarter of $43.0 million was $0.2
million below prior quarter and $1.8 million below prior year same
quarter. Our net interest margin, on a fully tax equivalent basis,
at 3.19% decreased 8 basis points from prior quarter and 32 basis
points from prior year same quarter. Our average earning assets
increased $103.3 million from prior quarter and $298.7 million from
prior year same quarter. Our yield on average earning assets
increased 18 basis points from prior quarter and 92 basis points
from prior year same quarter, and our cost of funds increased 34
basis points from prior quarter and 175 basis points from prior
year same quarter. Our net interest income for the year ended
December 31, 2023 was $173.1 million compared to $169.1 million for
the year ended December 31, 2022.
Our ratio of average loans to deposits, including repurchase
agreements, was 81.8% for the quarter ended December 31, 2023
compared to 83.2% for the quarter ended September 30, 2023 and
78.2% for the quarter ended December 31, 2022.
Noninterest Income
Percent Change
4Q 2023
Compared to:
($ in thousands)
4Q
2023
3Q
2023
4Q
2022
3Q
2023
4Q
2022
Year
2023
Year
2022
Percent Change
Deposit related fees
$
7,312
$
7,823
$
7,411
(6.5
%)
(1.3
%)
$
29,935
$
29,049
3.0
%
Trust revenue
3,318
3,277
2,959
1.2
%
12.1
%
13,025
12,394
5.1
%
Gains on sales of loans
54
105
174
(48.3
%)
(68.9
%)
395
1,525
(74.1
%)
Loan related fees
467
1,283
1,119
(63.6
%)
(58.3
%)
3,792
6,185
(38.7
%)
Bank owned life insurance revenue
816
1,108
572
(26.3
%)
42.7
%
3,517
2,708
29.8
%
Brokerage revenue
285
452
344
(37.0
%)
(17.2
%)
1,473
1,846
(20.2
%)
Other
1,473
1,448
1,192
1.7
%
23.6
%
5,522
4,209
31.2
%
Total noninterest income
$
13,725
$
15,496
$
13,771
(11.4
%)
(0.3
%)
$
57,659
$
57,916
(0.4
%)
Noninterest income for the quarter ended December 31, 2023 of
$13.7 million was $1.8 million, or 11.4%, below prior quarter but
relatively flat to prior year same quarter. The quarter over
quarter decrease included a $0.5 million decrease in deposit
related fees, a $0.8 million decrease in loan related fees, a $0.3
million decrease in bank owned life insurance revenue, and a $0.2
million decrease in brokerage revenue. A year over year decrease of
$0.7 million in loan related fees was primarily offset by increases
in trust revenue ($0.4 million) and bank owned life insurance
revenue ($0.2 million). The decline in loan related fees resulted
from the fluctuation in the fair market value of our mortgage
servicing rights. Noninterest income for the year 2023 was $57.7
million compared to $57.9 million for the year 2022. Noninterest
income was impacted year over year by a $2.4 million decline in
loan related fees, a $1.1 million decline in gains on sales of
loans, and a $0.4 million decline in brokerage revenue, offset by
increases of $0.9 million in deposit related fees, $0.6 million in
trust revenue, $1.2 million in securities gains, and $0.8 million
in bank owned life insurance revenue.
Noninterest Expense
Percent Change
4Q 2023
Compared to:
($ in thousands)
4Q
2023
3Q
2023
4Q
2022
3Q
2023
4Q
2022
Year
2023
Year
2022
Percent Change
Salaries
$
13,163
$
12,755
$
12,439
3.2
%
5.8
%
$
51,283
$
48,934
4.8
%
Employee benefits
5,282
5,298
5,433
(0.3
%)
(2.8
%)
22,428
23,556
(4.8
%)
Net occupancy and equipment
3,045
2,875
2,576
5.9
%
18.2
%
11,843
11,083
6.9
%
Data processing
2,630
2,410
2,344
9.1
%
12.2
%
9,726
8,910
9.2
%
Legal and professional fees
900
722
931
24.6
%
(3.3
%)
3,350
3,434
(2.4
%)
Advertising and marketing
923
767
826
20.4
%
11.8
%
3,214
3,005
7.0
%
Taxes other than property and payroll
421
420
296
0.3
%
42.2
%
1,706
1,570
8.7
%
Net other real estate owned expense
5
165
18
(96.8
%)
(72.2
%)
350
456
(23.4
%)
Other
5,259
5,435
5,396
(3.2
%)
(2.5
%)
21,490
20,123
6.8
%
Total noninterest expense
$
31,628
$
30,847
$
30,259
2.5
%
4.5
%
$
125,390
$
121,071
3.6
%
Noninterest expense for the quarter ended December 31, 2023 of
$31.6 million was $0.8 million, or 2.5%, above prior quarter and
$1.4 million, or 4.5%, above prior year same quarter. The increase
in noninterest expense quarter over quarter included a $0.4 million
increase in personnel expense, a $0.2 million increase in occupancy
and equipment, and a $0.2 million increase in data processing
expense. The increase year over year resulted from a $0.6 million
increase in personnel expense, a $0.5 million increase in occupancy
and equipment expense, a $0.3 million increase in data processing
expense, and a $0.3 million increase in FDIC insurance premiums.
Noninterest expense for the year 2023 was $125.4 million compared
to $121.1 million for the year 2022 with increases of $1.2 million
in personnel expense, $0.8 million in occupancy and equipment, $0.8
million in data processing expense, $1.0 million in FDIC insurance
premiums, and $0.4 million in telephone expense.
The Compensation Committee of the Board of Directors has
authorized a discretionary gift/payment to all full-time employees
hired prior to July 1, 2023 of $1000 and all full-time employees
hired after June 30, 2023 of $500. The Committee also authorized a
discretionary gift/payment to our Executive Committee and other
members of senior management. This discretionary gift/payment will
occur January 19, 2024 for all eligible employees. This payment was
accrued as of December 31, 2023 in the amount of $1.2 million. The
Compensation Committee approved this gift/payment even though we
did not achieve the desired financial results for our company and
chose to do so because they recognize the significant efforts of
all our employees during this very turbulent time in the banking
industry.
Balance Sheet Review
Total Loans
Percent Change
4Q 2023 Compared to:
($ in thousands)
4Q
2023
3Q
2023
4Q
2022
3Q
2023
4Q
2022
Commercial nonresidential real estate
$
778,637
$
788,287
$
762,349
(1.2
%)
2.1
%
Commercial residential real estate
417,943
404,779
372,914
3.3
%
12.1
%
Hotel/motel
395,765
386,067
343,640
2.5
%
15.2
%
Other commercial
391,390
377,449
389,955
3.7
%
0.4
%
Total commercial
1,983,735
1,956,582
1,868,858
1.4
%
6.1
%
Residential mortgage
937,524
916,580
824,996
2.3
%
13.6
%
Home equity loans/lines
147,036
139,085
120,540
5.7
%
22.0
%
Total residential
1,084,560
1,055,665
945,536
2.7
%
14.7
%
Consumer indirect
823,505
812,060
737,392
1.4
%
11.7
%
Consumer direct
159,106
160,712
157,504
(1.0
%)
1.0
%
Total consumer
982,611
972,772
894,896
1.0
%
9.8
%
Total loans
$
4,050,906
$
3,985,019
$
3,709,290
1.7
%
9.2
%
Total Deposits and Repurchase Agreements
Percent Change
4Q 2023 Compared to:
($ in thousands)
4Q
2023
3Q
2023
4Q
2022
3Q
2023
4Q
2022
Non-interest bearing deposits
$
1,260,690
$
1,314,189
$
1,394,915
(4.1
%)
(9.6
%)
Interest bearing deposits
Interest checking
123,927
125,107
112,265
(0.9
%)
10.4
%
Money market savings
1,525,537
1,412,679
1,348,809
8.0
%
13.1
%
Savings accounts
535,063
556,820
654,380
(3.9
%)
(18.2
%)
Time deposits
1,279,405
1,219,097
915,774
4.9
%
39.7
%
Repurchase agreements
225,245
232,577
215,431
(3.2
%)
4.6
%
Total interest bearing deposits and
repurchase agreements
3,689,177
3,546,280
3,246,659
4.0
%
13.6
%
Total deposits and repurchase
agreements
$
4,949,867
$
4,860,469
$
4,641,574
1.8
%
6.6
%
CTBI’s total assets at $5.8 billion as of December 31, 2023
increased $134.8 million, or 9.5% annualized, from September 30,
2023 and $389.4 million, or 7.2%, from December 31, 2022. Loans
outstanding at $4.1 billion increased $65.9 million, an annualized
6.6%, from September 30, 2023 and $341.6 million, or 9.2%, from
December 31, 2022. The increase in loans from prior quarter
included a $27.2 million increase in the commercial loan portfolio,
a $28.9 million increase in the residential loan portfolio, a $11.4
million increase in the indirect consumer loan portfolio, and a
$1.6 million decrease in the consumer direct loan portfolio. CTBI’s
investment portfolio increased $28.1 million, or an annualized
9.8%, from September 30, 2023 but decreased $91.5 million, or 7.3%,
from December 31, 2022. Deposits in other banks increased $62.6
million from prior quarter and $135.2 million from December 31,
2022. Deposits, including repurchase agreements, at $4.9 billion
increased $89.4 million, or an annualized 7.3%, from September 30,
2023 and $308.3 million, or 6.6% from December 31, 2022. Due to the
increasing and competitive interest rate environment, we have seen
a change in our deposit mix year over year with a 9.6% decrease in
noninterest bearing deposits and a 13.6% increase in interest
bearing deposits and repurchase agreements.
Shareholders’ equity at $702.2 million increased $49.2 million,
or an annualized 29.9%, during the quarter and $74.2 million, or
11.8%, from December 31, 2022. Net unrealized losses on securities,
net of deferred taxes, decreased to $103.3 million at December 31,
2023, compared to $141.4 million at September 30, 2023 and $129.2
million at December 31, 2022. CTBI’s annualized dividend yield to
shareholders as of December 31, 2023 was 4.20%.
Asset Quality
Our total nonperforming loans increased to $14.0 million at
December 31, 2023 from $13.0 million at September 30, 2023 but
decreased from $15.3 million at December 31, 2022. Prior year
nonperforming loans, as previously reported, exclude troubled debt
restructurings which have been eliminated in the current period due
to implementation of Accounting Standard Update 2022-02. Accruing
loans 90+ days past due at $9.9 million increased $1.9 million from
prior quarter and $1.4 million from December 31, 2022. Nonaccrual
loans at $4.0 million decreased $0.9 million from prior quarter and
$2.8 million from December 31, 2022. Accruing loans 30-89 days past
due at $15.3 million increased $3.2 million from prior quarter and
were relatively flat to December 31, 2022. Our loan portfolio
management processes focus on the immediate identification,
management, and resolution of problem loans to maximize recovery
and minimize loss.
Our level of foreclosed properties was $1.6 million at December
31, 2023 compared to $2.2 million at September 30, 2023 and $3.7
million at December 31, 2022. Sales of foreclosed properties for
the quarter ended December 31, 2023 totaled $0.7 million while new
foreclosed properties totaled $0.2 million.
We had net loan charge-offs of $1.0 million, or 0.10% of average
loans annualized, for the fourth quarter 2023 compared to $1.2
million, or 0.12% of average loans annualized, for the third
quarter 2023 and a net recovery of loan charge-offs of $9 thousand
for the fourth quarter 2022. Net charge-offs for the year ended
December 31, 2023 were $3.2 million, or 0.08% of average loans
annualized compared to $0.7 million, or 0.02% of average loans
annualized, for the year ended December 31, 2022.
Allowance for Credit Losses
Our provision for credit losses for the quarter decreased $0.1
million from prior quarter but increased $0.3 million from prior
year same quarter. Provision for credit losses for the year ended
December 31, 2023 increased $1.9 million from the year ended
December 31, 2022. Our reserve coverage (allowance for credit
losses to nonperforming loans) at December 31, 2023 was 354.7%
compared to 375.2% at September 30, 2023 and 300.4% at December 31,
2022. Our credit loss reserve as a percentage of total loans
outstanding at December 31, 2023 remained at 1.22% from September
30, 2023 down from the 1.24% at December 31, 2022.
Forward-Looking Statements
Certain of the statements contained herein that are not
historical facts are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act. Community Trust
Bancorp, Inc.’s (“CTBI”) actual results may differ materially from
those included in the forward-looking statements. Forward-looking
statements are typically identified by words or phrases such as
“believe,” “expect,” “anticipate,” “intend,” “estimate,” “may
increase,” “may fluctuate,” and similar expressions or future or
conditional verbs such as “will,” “should,” “would,” and “could.”
These forward-looking statements involve risks and uncertainties
including, but not limited to, economic conditions, portfolio
growth, the credit performance of the portfolios, including
bankruptcies, and seasonal factors; changes in general economic
conditions including the performance of financial markets,
prevailing inflation and interest rates, realized gains from sales
of investments, gains from asset sales, and losses on commercial
lending activities; the effects of the COVID-19 pandemic on our
business operations and credit quality and on general economic and
financial market conditions, as well as our ability to respond to
the related challenges; results of various investment activities;
the effects of competitors’ pricing policies, changes in laws and
regulations, competition, and demographic changes on target market
populations’ savings and financial planning needs; industry changes
in information technology systems on which we are highly dependent;
failure of acquisitions to produce revenue enhancements or cost
savings at levels or within the time frames originally anticipated
or unforeseen integration difficulties; and the resolution of legal
proceedings and related matters. In addition, the banking industry
in general is subject to various monetary, operational, and fiscal
policies and regulations, which include, but are not limited to,
those determined by the Federal Reserve Board, the Federal Deposit
Insurance Corporation, the Consumer Financial Protection Bureau,
and state regulators, whose policies, regulations, and enforcement
actions could affect CTBI’s results. These statements are
representative only on the date hereof, and CTBI undertakes no
obligation to update any forward-looking statements made.
Community Trust Bancorp, Inc., with assets of $5.8 billion, 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 northeastern Tennessee, four trust offices across
Kentucky, and one trust office in Tennessee.
Additional information follows.
Community Trust Bancorp, Inc. Financial Summary
(Unaudited) December 31, 2023 (in thousands except per
share data and # of employees) Three
Three Three Twelve
Twelve Months Months
Months Months Months
Ended Ended Ended Ended Ended
December 31, 2023 September 30, 2023 December 31, 2022 December 31,
2023 December 31, 2022 Interest income
$
73,329
$
69,499
$
57,458
$
268,650
$
197,742
Interest expense
30,354
26,359
12,714
95,540
28,640
Net interest income
42,975
43,140
44,744
173,110
169,102
Loan loss provision
1,815
1,871
1,539
6,811
4,905
Gains on sales of loans
54
105
174
395
1,525
Deposit related fees
7,312
7,823
7,411
29,935
29,049
Trust revenue
3,318
3,277
2,959
13,025
12,394
Loan related fees
467
1,283
1,119
3,792
6,185
Securities gains (losses)
258
355
117
996
(168
)
Other noninterest income
2,316
2,653
1,991
9,516
8,931
Total noninterest income
13,725
15,496
13,771
57,659
57,916
Personnel expense
18,445
18,053
17,872
73,711
72,490
Occupancy and equipment
3,045
2,875
2,576
11,843
11,083
Data processing expense
2,630
2,410
2,344
9,726
8,910
FDIC insurance premiums
655
612
374
2,483
1,447
Other noninterest expense
6,853
6,897
7,093
27,627
27,141
Total noninterest expense
31,628
30,847
30,259
125,390
121,071
Net income before taxes
23,257
25,918
26,717
98,568
101,042
Income taxes
4,598
5,290
4,274
20,564
19,228
Net income
$
18,659
$
20,628
$
22,443
$
78,004
$
81,814
Memo: TEQ interest income
$
73,626
$
69,797
$
57,707
$
269,841
$
198,698
Average shares outstanding
17,901
17,893
17,848
17,887
17,836
Diluted average shares outstanding
17,926
17,904
17,872
17,900
17,851
Basic earnings per share
$
1.04
$
1.15
$
1.26
$
4.36
$
4.59
Diluted earnings per share
$
1.04
$
1.15
$
1.26
$
4.36
$
4.58
Dividends per share
$
0.46
$
0.46
$
0.44
$
1.80
$
1.68
Average balances: Loans
$
4,022,547
$
3,952,096
$
3,662,221
$
3,888,585
$
3,552,941
Earning assets
5,377,827
5,274,542
5,079,176
5,244,128
5,129,345
Total assets
5,713,977
5,603,586
5,412,752
5,572,141
5,438,696
Deposits, including repurchase agreements
4,916,208
4,750,448
4,682,014
4,771,106
4,688,976
Interest bearing liabilities
3,687,660
3,567,343
3,321,914
3,514,142
3,351,221
Shareholders' equity
674,349
665,129
617,338
663,664
642,423
Performance ratios: Return on average assets
1.30
%
1.46
%
1.64
%
1.40
%
1.50
%
Return on average equity
10.98
%
12.30
%
14.42
%
11.75
%
12.73
%
Yield on average earning assets (tax equivalent)
5.43
%
5.25
%
4.51
%
5.15
%
3.87
%
Cost of interest bearing funds (tax equivalent)
3.27
%
2.93
%
1.52
%
2.72
%
0.85
%
Net interest margin (tax equivalent)
3.19
%
3.27
%
3.51
%
3.32
%
3.32
%
Efficiency ratio (tax equivalent)
55.74
%
52.66
%
51.81
%
54.29
%
53.12
%
Loan charge-offs
$
2,529
$
2,012
$
1,995
$
8,259
$
5,346
Recoveries
(1,538
)
(842
)
(2,004
)
(5,010
)
(4,666
)
Net charge-offs
$
991
$
1,170
$
(9
)
$
3,249
$
680
Market Price: High
$
45.74
$
39.86
$
48.05
$
47.35
$
48.05
Low
$
33.91
$
33.48
$
40.81
$
32.68
$
39.10
Close
$
43.86
$
34.26
$
45.93
$
43.86
$
45.93
As of As of As of
December 31, 2023 September 30, 2023 December 31, 2022
Assets: Loans
$
4,050,906
$
3,985,019
$
3,709,290
Loan loss reserve
(49,543
)
(48,719
)
(45,981
)
Net loans
4,001,363
3,936,300
3,663,309
Loans held for sale
152
-
109
Securities AFS
1,163,724
1,135,878
1,256,226
Equity securities at fair value
3,158
2,900
2,166
Other equity investments
9,599
12,557
11,563
Other earning assets
214,664
152,064
79,475
Cash and due from banks
58,833
69,291
51,306
Premises and equipment
45,311
44,962
42,633
Right of use asset
15,703
16,100
17,071
Goodwill and core deposit intangible
65,490
65,490
65,490
Other assets
191,699
199,390
190,968
Total Assets
$
5,769,696
$
5,634,932
$
5,380,316
Liabilities and Equity: Interest bearing checking
$
123,927
$
125,107
$
112,265
Savings deposits
2,060,600
1,969,499
2,003,189
CD's >=$100,000
704,222
666,808
471,934
Other time deposits
575,183
552,289
443,840
Total interest bearing deposits
3,463,932
3,313,703
3,031,228
Noninterest bearing deposits
1,260,690
1,314,189
1,394,915
Total deposits
4,724,622
4,627,892
4,426,143
Repurchase agreements
225,245
232,577
215,431
Other interest bearing liabilities
65,075
65,136
58,696
Lease liability
16,393
16,801
17,628
Other noninterest bearing liabilities
36,153
39,492
34,371
Total liabilities
5,067,488
4,981,898
4,752,269
Shareholders' equity
702,208
653,034
628,047
Total Liabilities and Equity
$
5,769,696
$
5,634,932
$
5,380,316
Ending shares outstanding
18,000
17,991
17,918
30 - 89 days past due loans
$
15,343
$
12,098
$
15,303
90 days past due loans
9,920
8,069
8,496
Nonaccrual loans
4,048
4,916
6,813
Foreclosed properties
1,616
2,175
3,671
Community bank leverage ratio
13.69
%
13.78
%
13.55
%
Tangible equity to tangible assets ratio
11.16
%
10.55
%
10.58
%
FTE employees
967
951
985
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240117725422/en/
MARK A. GOOCH, VICE CHAIRMAN, PRESIDENT, AND CEO, COMMUNITY
TRUST BANCORP, INC. AT (606) 437-3229
Grafico Azioni Community Trust Bancorp (NASDAQ:CTBI)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Community Trust Bancorp (NASDAQ:CTBI)
Storico
Da Gen 2024 a Gen 2025
