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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Community Trust Bancorp Inc | NASDAQ:CTBI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.52 | 1.26% | 41.94 | 41.84 | 42.03 | 42.79 | 41.055 | 41.47 | 20,765 | 19:42:53 |
|
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(State or other jurisdiction of incorporation or organization)
|
(IRS Employer Identification No.)
|
|
|
(Address of principal executive offices)
|
(Zip code)
|
(
(Registrant’s telephone number)
|
|
Securities registered pursuant to Section 12(b) of the Act:
|
|
(Title of class)
|
|
|
(Trading symbol)
|
(Name of exchange on which registered)
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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99.1
|
Press Release dated January 17, 2024
|
COMMUNITY TRUST BANCORP, INC.
|
||
Date:
|
January 17, 2024
|
By:
|
/s/ Mark A. Gooch
|
||
Mark A. Gooch
|
||
Vice Chairman, President, and Chief Executive Officer
|
(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
|
❖
|
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 $1.4 million, or 4.5%, above prior year same quarter.
|
Percent Change
|
||||||||||||||||||||||||||||||||
4Q 2023
Compared to:
|
||||||||||||||||||||||||||||||||
($ 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
|
%
|
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
|
%)
|
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
|
%
|
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
|
%
|
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
|
%
|
Community Trust Bancorp, Inc.
|
||||||||||||||||||||
Financial Summary (Unaudited)
|
||||||||||||||||||||
December 31, 2022 | ||||||||||||||||||||
(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, 2022
|
September 30, 2022
|
December 31, 2021
|
December 31, 2022
|
December 31, 2021
|
||||||||||||||||
Interest income
|
$
|
57,458
|
$
|
51,405
|
$
|
44,357
|
$
|
197,742
|
$
|
178,169
|
||||||||||
Interest expense
|
12,714
|
7,869
|
3,541
|
28,640
|
15,090
|
|||||||||||||||
Net interest income
|
44,744
|
43,536
|
40,816
|
169,102
|
163,079
|
|||||||||||||||
Loan loss provision
|
1,539
|
2,414
|
533
|
4,905
|
(6,386
|
)
|
||||||||||||||
Gains on sales of loans
|
174
|
235
|
1,241
|
1,525
|
6,820
|
|||||||||||||||
Deposit related fees
|
7,411
|
7,629
|
7,083
|
29,049
|
26,529
|
|||||||||||||||
Trust revenue
|
2,959
|
2,989
|
3,305
|
12,394
|
12,644
|
|||||||||||||||
Loan related fees
|
1,119
|
1,589
|
1,254
|
6,185
|
5,578
|
|||||||||||||||
Securities gains (losses)
|
117
|
(159
|
)
|
(208
|
)
|
(168
|
)
|
(158
|
)
|
|||||||||||
Other noninterest income
|
1,991
|
2,396
|
2,302
|
8,931
|
9,050
|
|||||||||||||||
Total noninterest income
|
13,771
|
14,679
|
14,977
|
57,916
|
60,463
|
|||||||||||||||
Personnel expense
|
17,872
|
18,546
|
19,468
|
72,490
|
74,114
|
|||||||||||||||
Occupancy and equipment
|
2,576
|
2,897
|
2,625
|
11,083
|
10,854
|
|||||||||||||||
Data processing expense
|
2,344
|
2,270
|
2,099
|
8,910
|
8,039
|
|||||||||||||||
FDIC insurance premiums
|
374
|
360
|
339
|
1,447
|
1,381
|
|||||||||||||||
Other noninterest expense
|
7,093
|
7,402
|
6,618
|
27,141
|
24,897
|
|||||||||||||||
Total noninterest expense
|
30,259
|
31,475
|
31,149
|
121,071
|
119,285
|
|||||||||||||||
Net income before taxes
|
26,717
|
24,326
|
24,111
|
101,042
|
110,643
|
|||||||||||||||
Income taxes
|
4,274
|
4,954
|
4,863
|
19,228
|
22,704
|
|||||||||||||||
Net income
|
$
|
22,443
|
$
|
19,372
|
$
|
19,248
|
$
|
81,814
|
$
|
87,939
|
||||||||||
Memo: TEQ interest income
|
$
|
57,707
|
$
|
51,645
|
$
|
44,581
|
$
|
198,698
|
$
|
179,066
|
||||||||||
Average shares outstanding
|
17,848
|
17,841
|
17,796
|
17,836
|
17,786
|
|||||||||||||||
Diluted average shares outstanding
|
17,872
|
17,857
|
17,820
|
17,851
|
17,804
|
|||||||||||||||
Basic earnings per share
|
$
|
1.26
|
$
|
1.09
|
$
|
1.08
|
$
|
4.59
|
$
|
4.94
|
||||||||||
Diluted earnings per share
|
$
|
1.26
|
$
|
1.08
|
$
|
1.08
|
$
|
4.58
|
$
|
4.94
|
||||||||||
Dividends per share
|
$
|
0.44
|
$
|
0.44
|
$
|
0.40
|
$
|
1.68
|
$
|
1.57
|
||||||||||
Average balances:
|
||||||||||||||||||||
Loans
|
$
|
3,662,221
|
$
|
3,568,174
|
$
|
3,381,206
|
$
|
3,552,941
|
$
|
3,455,742
|
||||||||||
Earning assets
|
5,079,176
|
5,163,624
|
5,133,843
|
5,129,345
|
5,115,961
|
|||||||||||||||
Total assets
|
5,412,752
|
5,477,596
|
5,418,854
|
5,438,696
|
5,387,241
|
|||||||||||||||
Deposits, including repurchase agreements
|
4,682,014
|
4,733,393
|
4,612,010
|
4,688,976
|
4,592,415
|
|||||||||||||||
Interest bearing liabilities
|
3,321,914
|
3,359,242
|
3,337,053
|
3,351,221
|
3,376,788
|
|||||||||||||||
Shareholders' equity
|
617,338
|
636,038
|
697,727
|
642,423
|
682,697
|
|||||||||||||||
Performance ratios:
|
||||||||||||||||||||
Return on average assets
|
1.64
|
%
|
1.40
|
%
|
1.41
|
%
|
1.50
|
%
|
1.63
|
%
|
||||||||||
Return on average equity
|
14.42
|
%
|
12.08
|
%
|
10.94
|
%
|
12.73
|
%
|
12.88
|
%
|
||||||||||
Yield on average earning assets (tax equivalent)
|
4.51
|
%
|
3.97
|
%
|
3.45
|
%
|
3.87
|
%
|
3.50
|
%
|
||||||||||
Cost of interest bearing funds (tax equivalent)
|
1.52
|
%
|
0.93
|
%
|
0.42
|
%
|
0.85
|
%
|
0.45
|
%
|
||||||||||
Net interest margin (tax equivalent)
|
3.51
|
%
|
3.36
|
%
|
3.17
|
%
|
3.32
|
%
|
3.21
|
%
|
||||||||||
Efficiency ratio (tax equivalent)
|
51.81
|
%
|
53.70
|
%
|
55.40
|
%
|
53.12
|
%
|
53.11
|
%
|
||||||||||
Loan charge-offs
|
$
|
1,995
|
$
|
1,203
|
$
|
865
|
$
|
5,346
|
$
|
4,325
|
||||||||||
Recoveries
|
(2,004
|
)
|
(878
|
)
|
(873
|
)
|
(4,666
|
)
|
(4,445
|
)
|
||||||||||
Net charge-offs
|
$
|
(9
|
)
|
$
|
325
|
$
|
(8
|
)
|
$
|
680
|
$
|
(120
|
)
|
|||||||
Market Price:
|
||||||||||||||||||||
High
|
$
|
48.05
|
$
|
45.37
|
$
|
46.21
|
$
|
48.05
|
$
|
47.53
|
||||||||||
Low
|
$
|
40.81
|
$
|
39.65
|
$
|
41.05
|
$
|
39.10
|
$
|
36.02
|
||||||||||
Close
|
$
|
45.93
|
$
|
40.55
|
$
|
43.61
|
$
|
45.93
|
$
|
43.61
|
Community Trust Bancorp, Inc.
|
Financial Summary (Unaudited)
|
December 31, 2022 |
(in thousands except per share data and # of employees)
|
As of
|
As of
|
As of
|
||||||||||
December 31, 2022
|
September 30, 2022
|
December 31, 2021
|
||||||||||
Assets:
|
||||||||||||
Loans
|
$
|
3,709,290
|
$
|
3,630,616
|
$
|
3,408,813
|
||||||
Loan loss reserve
|
(45,981
|
)
|
(44,433
|
)
|
(41,756
|
)
|
||||||
Net loans
|
3,663,309
|
3,586,183
|
3,367,057
|
|||||||||
Loans held for sale
|
109
|
1,043
|
2,632
|
|||||||||
Securities AFS
|
1,256,226
|
1,298,592
|
1,455,429
|
|||||||||
Equity securities at fair value
|
2,166
|
1,969
|
2,253
|
|||||||||
Other equity investments
|
11,563
|
11,563
|
13,026
|
|||||||||
Other earning assets
|
79,475
|
201,196
|
267,286
|
|||||||||
Cash and due from banks
|
51,306
|
60,527
|
46,558
|
|||||||||
Premises and equipment
|
42,633
|
41,593
|
40,479
|
|||||||||
Right of use asset
|
17,071
|
12,131
|
12,148
|
|||||||||
Goodwill and core deposit intangible
|
65,490
|
65,490
|
65,490
|
|||||||||
Other assets
|
190,968
|
194,051
|
145,899
|
|||||||||
Total Assets
|
$
|
5,380,316
|
$
|
5,474,338
|
$
|
5,418,257
|
||||||
Liabilities and Equity:
|
||||||||||||
Interest bearing checking
|
$
|
112,265
|
$
|
100,680
|
$
|
97,064
|
||||||
Savings deposits
|
2,003,189
|
1,952,379
|
1,839,046
|
|||||||||
CD's >=$100,000
|
471,934
|
537,233
|
589,853
|
|||||||||
Other time deposits
|
443,840
|
463,698
|
487,226
|
|||||||||
Total interest bearing deposits
|
3,031,228
|
3,053,990
|
3,013,189
|
|||||||||
Noninterest bearing deposits
|
1,394,915
|
1,481,078
|
1,331,103
|
|||||||||
Total deposits
|
4,426,143
|
4,535,068
|
4,344,292
|
|||||||||
Repurchase agreements
|
215,431
|
230,123
|
271,088
|
|||||||||
Other interest bearing liabilities
|
58,696
|
58,701
|
58,716
|
|||||||||
Lease liability
|
17,628
|
12,636
|
13,005
|
|||||||||
Other noninterest bearing liabilities
|
34,371
|
35,250
|
32,954
|
|||||||||
Total liabilities
|
4,752,269
|
4,871,778
|
4,720,055
|
|||||||||
Shareholders' equity
|
628,047
|
602,560
|
698,202
|
|||||||||
Total Liabilities and Equity
|
$
|
5,380,316
|
$
|
5,474,338
|
$
|
5,418,257
|
||||||
Ending shares outstanding
|
17,918
|
17,901
|
17,843
|
|||||||||
30 - 89 days past due loans
|
$
|
15,303
|
$
|
12,058
|
$
|
10,874
|
||||||
90 days past due loans
|
8,496
|
5,554
|
5,954
|
|||||||||
Nonaccrual loans
|
6,813
|
8,138
|
10,671
|
|||||||||
Restructured loans (excluding 90 days past due and nonaccrual)
|
81,331
|
79,092
|
69,827
|
|||||||||
Foreclosed properties
|
3,671
|
1,864
|
3,486
|
|||||||||
Community bank leverage ratio
|
13.55
|
%
|
13.24
|
%
|
13.00
|
%
|
||||||
Tangible equity to tangible assets ratio
|
10.58
|
%
|
9.93
|
%
|
11.82
|
%
|
||||||
FTE employees
|
985
|
964
|
974
|
Document and Entity Information |
Dec. 31, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2023 |
Entity File Number | 001-31220 |
Entity Registrant Name | Community Trust Bancorp, Inc. |
Entity Central Index Key | 0000350852 |
Entity Incorporation, State or Country Code | KY |
Entity Tax Identification Number | 61-0979818 |
Entity Address, Address Line One | P.O. Box 2947 |
Entity Address, Address Line Two | 346 North Mayo Trail |
Entity Address, City or Town | Pikeville |
Entity Address, State or Province | KY |
Entity Address, Postal Zip Code | 41502 |
City Area Code | 606 |
Local Phone Number | 432-1414 |
Title of 12(b) Security | Common Stock |
Trading Symbol | CTBI |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
1 Year Community Trust Bancorp Chart |
1 Month Community Trust Bancorp Chart |
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