Business
Community Trust Bancorp, Inc. Reports Earnings for the Third Quarter 2021
PIKEVILLE, Ky.--(BUSINESS WIRE)-- Community Trust Bancorp, Inc. (NASDAQ:CTBI): Earnings Summary (in thousands except per share data) 3Q 2021 2Q 2021 3Q 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\n(in thousands except per share data)\n\n\n\n3Q\n2021\n\n\n\n2Q\n2021\n\n\n\n3Q\n2020\n\n\n\nYTD\n2021\n\n\n\nYTD\n2020\n\n\n \n\n\n\nNet income\n\n\n\n$21,142\n\n\n\n$23,931\n\n\n\n$17,447\n\n\n\n$68,691\n\n\n\n$43,678\n\n\n \n\n\n\nEarnings per share\n\n\n\n$1.19\n\n\n\n$1.35\n\n\n\n$0.98\n\n\n\n$3.86\n\n\n\n$2.46\n\n\n \n\n\n\nEarnings per share - diluted\n\n\n\n$1.19\n\n\n\n$1.34\n\n\n\n$0.98\n\n\n\n$3.86\n\n\n\n$2.46\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\nReturn on average assets\n\n\n\n1.54%\n\n\n\n1.76%\n\n\n\n1.38%\n\n\n\n1.71%\n\n\n\n1.23%\n\n\n \n\n\n\nReturn on average equity\n\n\n\n12.06%\n\n\n\n14.20%\n\n\n\n10.81%\n\n\n\n13.55%\n\n\n\n9.26%\n\n\n \n\n\n\nEfficiency ratio\n\n\n\n53.50%\n\n\n\n53.17%\n\n\n\n55.99%\n\n\n\n52.35%\n\n\n\n56.72%\n\n\n \n\n\n\nTangible common equity\n\n\n\n11.77%\n\n\n\n11.39%\n\n\n\n11.68%\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\n\n\nDividends declared per share\n\n\n\n$0.400\n\n\n\n$0.385\n\n\n\n$0.385\n\n\n\n$1.170\n\n\n\n$1.145\n\n\n \n\n\n\nBook value per share\n\n\n\n$38.78\n\n\n\n$38.36\n\n\n\n$36.20\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\n\n\nWeighted average shares\n\n\n\n17,790\n\n\n\n17,784\n\n\n\n17,746\n\n\n\n17,783\n\n\n\n17,746\n\n\n \n\n\n\nWeighted average shares - diluted\n\n\n\n17,808\n\n\n\n17,800\n\n\n\n17,752\n\n\n\n17,798\n\n\n\n17,753\n\n\n \n\n\nCommunity Trust Bancorp, Inc. (NASDAQ-CTBI) achieved earnings for the third quarter 2021 of $21.1 million, or $1.19 per basic share, compared to $23.9 million, or $1.35 per basic share, earned during the second quarter 2021 and $17.4 million, or $0.98 per basic share, earned during the third quarter 2020. Our loan portfolio quality continues to see improvement, allowing a further reduction in credit loss reserves. Noninterest income declined; however, total revenue increased as our net interest margin saw improvement resulting from a redeployment of Federal Reserve funds into our investment portfolio and forgiveness of Paycheck Protection Program (PPP) loans. Earnings for the nine months ended September 30, 2021 were $68.7 million c...