Community Trust Bancorp Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Reports Net Charge-Offs for the Quarter Ended December 31, 2015
January 20, 2016 at 09:11 am EST
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Community Trust Bancorp Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported net interest income of $33,195,000 against $33,499,000 a year ago. Net income before taxes was $17,317,000 against $14,143,000 a year ago. Net income was $11,870,000 against $9,992,000 a year ago. Diluted earnings per share were $0.68 against $0.57 a year ago. Return on average assets was 1.22% against 1.07% a year ago. Return on average equity was 9.91% against 8.87% a year ago. Book value per share was $27.12 against $25.64 a year ago. Interest income was $36,300,000 against $36,406,000 a year ago.
For the year, the company reported net interest income of $144,020,000 against $143,867,000 a year ago. Net income before taxes was $64,963,000 against $62,397,000 a year ago. Net income was $46,432,000 against $43,251,000 a year ago. Diluted earnings per share were $2.66 against $2.49 a year ago. Return on average assets was 1.23% against 1.18% a year ago. Return on average equity was 9.97% against 9.94% a year ago. Interest income was $144,020,000 against $143,867,000 a year ago.
For the quarter, the company reported net charge-offs were $1,356,000 against $3,018,000 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. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Reports Net Charge-Offs for the Quarter Ended December 31, 2015