Community Trust Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 17, 2024 at 08:15 am
Share
Community Trust Bancorp, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 42.98 million compared to USD 44.74 million a year ago. Net income was USD 18.66 million compared to USD 22.44 million a year ago. Basic earnings per share from continuing operations was USD 1.04 compared to USD 1.26 a year ago. Diluted earnings per share from continuing operations was USD 1.04 compared to USD 1.26 a year ago.
For the full year, net interest income was USD 173.11 million compared to USD 169.1 million a year ago. Net income was USD 78 million compared to USD 81.81 million a year ago. Basic earnings per share from continuing operations was USD 4.36 compared to USD 4.59 a year ago. Diluted earnings per share from continuing operations was USD 4.36 compared to USD 4.58 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.