Community Trust Bancorp, Inc. Reports Earnings for the 2nd Quarter 2022

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[{"type":"text","content":" PIKEVILLE, Ky.--(BUSINESS WIRE)--\nCommunity Trust Bancorp, Inc. (NASDAQ:CTBI):\n\n\n\nEarnings Summary\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n(in thousands except per share data)\n\n\n\n2Q\n2022\n\n\n\n1Q\n2022\n\n\n\n2Q\n2021\n\n\n\nYTD\n2022\n\n\n\nYTD\n2021\n\n\n\n\n\nNet income\n\n\n\n$20,271\n\n\n\n$19,728\n\n\n\n$23,931\n\n\n\n$39,999\n\n\n\n$47,549\n\n\n\n\n\nEarnings per share\n\n\n\n$1.14\n\n\n\n$1.11\n\n\n\n$1.35\n\n\n\n$2.24\n\n\n\n$2.67\n\n\n\n\n\nEarnings per share - diluted\n\n\n\n$1.14\n\n\n\n$1.11\n\n\n\n$1.34\n\n\n\n$2.24\n\n\n\n$2.67\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nReturn on average assets\n\n\n\n1.49%\n\n\n\n1.48%\n\n\n\n1.76%\n\n\n\n1.48%\n\n\n\n1.80%\n\n\n\n\n\nReturn on average equity\n\n\n\n12.75%\n\n\n\n11.77%\n\n\n\n14.20%\n\n\n\n12.25%\n\n\n\n14.34%\n\n\n\n\n\nEfficiency ratio\n\n\n\n53.77%\n\n\n\n53.25%\n\n\n\n53.17%\n\n\n\n53.51%\n\n\n\n51.76%\n\n\n\n\n\nTangible common equity\n\n\n\n10.53%\n\n\n\n10.93%\n\n\n\n11.39%\n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nDividends declared per share\n\n\n\n$0.400\n\n\n\n$0.400\n\n\n\n$0.385\n\n\n\n$0.800\n\n\n\n$0.770\n\n\n\n\n\nBook value per share\n\n\n\n$35.32\n\n\n\n$36.53\n\n\n\n$38.36\n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nWeighted average shares\n\n\n\n17,835\n\n\n\n17,820\n\n\n\n17,784\n\n\n\n17,827\n\n\n\n17,779\n\n\n\n\n\nWeighted average shares - diluted\n\n\n\n17,843\n\n\n\n17,832\n\n\n\n17,800\n\n\n\n17,838\n\n\n\n17,794\n\n\n\n\nCommunity Trust Bancorp, Inc. (NASDAQ-CTBI) achieved earnings for the second quarter 2022 of $20.3 million, or $1.14 per basic share, compared to $19.7 million, or $1.11 per basic share, earned during the first quarter 2022 and $23.9 million, or $1.35 per basic share, earned during the second quarter 2021. Total revenue was $0.3 million above prior quarter but $0.2 million below prior year same quarter. Net interest revenue increased $0.8 million compared to prior quarter and prior year same quarter; however, noninterest income decreased $0.5 million compared to prior quarter and $1.0 million compared to prior year same quarter. The decrease in noninterest income quarter over quarter was primarily the result of a variance in the valuation of our mortgage servicing rights, while ...

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