Community Trust Bancorp Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
January 15, 2014 at 09:20 am EST
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Community Trust Bancorp Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net interest income of $33,998,000 against $33,763,000 a year ago. Net income before taxes was $12,444,000 against $14,917,000 a year ago. Net income was $8,757,000 against $10,552,000 a year ago. Diluted earnings per share were $0.55 against $0.68 a year ago. Return on average assets was 0.95% against 1.15% a year ago. Return on average equity was 8.33% against 10.47% a year ago. Tangible common equity was 9.85% against 9.36% a year ago. Book value per share was $26.07 against $25.64 a year ago.
For the year, the company reported net interest income of $134,687 against $132,134,000 a year ago. Net income before taxes was $65,172,000 against $65,087,000 a year ago. Net income was $45,172,000 against $44,862,000 a year ago. Diluted earnings per share were $2.88 against $2.89 a year ago. Return on average assets was 1.24% against 1.23% a year ago. Return on average equity was 11.05% against 11.52% 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.