Community Trust Bancorp, Inc. Announces Unaudited Earnings Results for Fourth Quarter and Full Year Ended Dec. 31, 2016; Announces Unaudited Net Charge-Offs for Fourth Quarter Year Ended Dec. 31, 2016
January 18, 2017 at 09:22 am
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Community Trust Bancorp, Inc. announced unaudited earnings results for fourth quarter and full year ended Dec. 31, 2016. For the quarter, the company reported net interest income of $33,411,000, net income before taxes of $16,878,000, net income of $11,866,000, basic and diluted earnings per share of $0.67, return on average assets of 1.19%, return on average equity of 9.41% compared to the net interest income of $33,195,000, net income before taxes of $17,317,000, net income of $11,870,000, basic and diluted earnings per share of $0.68, return on average assets of 1.22%, return on average equity of 9.91% for the same quarter a year ago.
For the year, the company reported net interest income of $133,021,000, net income before taxes of $66,464,000, net income of $47,346,000, basic and diluted earnings per share of $2.7, book value per share of $28.4, return on average assets of 1.21%, return on average equity of 9.58% compared to the net interest income of $132,247,000, net income before taxes of $64,963,000, net income of $46,432,000, basic and diluted earnings per share of $2.66, book value per share of $27.12, return on average assets of 1.23%, return on average equity of 9.97% for the previous year.
For the quarter, the company's net charge-offs was $1,911,000 against $1,356,000 a year ago.
Community Trust Bancorp, Inc. (CTBI) is a bank holding company. CTBI owns all the capital stock of one commercial bank and one trust company, serving small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, southern West Virginia, and northeastern Tennessee. The commercial bank is Community Trust Bank, Inc., Pikeville, Kentucky (CTB) and the trust company is Community Trust and Investment Company, Lexington, Kentucky. CTBI is engaged in a range of commercial and personal banking, and trust and wealth management activities, which include accepting time and demand deposits; making secured and unsecured loans to corporations, individuals, and others; providing cash management services to corporate and individual customers; issuing letters of credit; renting safe deposit boxes; and providing funds transfer services. The lending activities of CTB include making commercial, construction, mortgage and personal loans.
Community Trust Bancorp, Inc. Announces Unaudited Earnings Results for Fourth Quarter and Full Year Ended Dec. 31, 2016; Announces Unaudited Net Charge-Offs for Fourth Quarter Year Ended Dec. 31, 2016