Community Trust Bancorp, Inc. Reports Earnings for the Fourth Quarter and Year 2020

About this update from Community Trust Bancorp, Inc.

[{"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\n4Q\n\n\n2020\n\n\n\n3Q\n\n\n2020\n\n\n\n4Q\n\n\n2019\n\n\n\nYear\n\n\n2020\n\n\n\nYear\n\n\n2019\n\n\n\n\n\nNet income\n\n\n\n$15,826\n\n\n\n$17,447\n\n\n\n$16,008\n\n\n\n$59,504\n\n\n\n$64,540\n\n\n\n\n\nEarnings per share\n\n\n\n$0.89\n\n\n\n$0.98\n\n\n\n$0.90\n\n\n\n$3.35\n\n\n\n$3.64\n\n\n\n\n\nEarnings per share - diluted\n\n\n\n$0.89\n\n\n\n$0.98\n\n\n\n$0.90\n\n\n\n$3.35\n\n\n\n$3.64\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\n1.24%\n\n\n\n1.38%\n\n\n\n1.46%\n\n\n\n1.23%\n\n\n\n1.49%\n\n\n\n\n\nReturn on average equity\n\n\n\n9.64%\n\n\n\n10.81%\n\n\n\n10.35%\n\n\n\n9.36%\n\n\n\n10.84%\n\n\n\n\n\nEfficiency ratio\n\n\n\n62.75%\n\n\n\n55.99%\n\n\n\n58.88%\n\n\n\n58.30%\n\n\n\n60.70%\n\n\n\n\n\nTangible common equity\n\n\n\n11.62%\n\n\n\n11.68%\n\n\n\n12.78%\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$0.385\n\n\n\n$0.385\n\n\n\n$0.380\n\n\n\n$1.530\n\n\n\n$1.480\n\n\n\n\n\nBook value per share\n\n\n\n$36.77\n\n\n\n$36.20\n\n\n\n$34.56\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\n17,755\n\n\n\n17,746\n\n\n\n17,737\n\n\n\n17,748\n\n\n\n17,724\n\n\n\n\n\nWeighted average shares - diluted\n\n\n\n17,769\n\n\n\n17,752\n\n\n\n17,760\n\n\n\n17,756\n\n\n\n17,740\n\n\n\n\nCommunity Trust Bancorp, Inc. (NASDAQ: CTBI) reports earnings for the fourth quarter 2020 of $15.8 million, or $0.89 per basic share, compared to $17.4 million, or $0.98 per basic share, earned during the third quarter 2020 and $16.0 million, or $0.90 per basic share, earned during the fourth quarter 2019. Earnings for the year ended December 31, 2020 were $59.5 million, or $3.35 per basic share, compared to $64.5 million, or $3.64 per basic share, for the year ended December 31, 2019.\n\n4th Quarter 2020 Highlights\n\n\nNet interest income for the quarter of $38.6 million was $0.9 million, or 2.5%, above prior quarter and $2.2 million, or 6.2%, above fourth quarter 2019.\n\n\n\nProvision for credit losses for the quarter ended December 31, 2020 decreased $1....

More updates from Community Trust Bancorp, Inc.