Community Trust Bancorp, Inc. · NASDAQ:CTBI
Community Trust Bancorp — Shareholder Meeting (April 2025)
53 slides from Community Trust Bancorp's shareholder meeting presentation, Apr 22, 2025
Slide 1: 2025 Annual Shareholders' Presentation
Slide 2: Directors
Directors CTBI Directors Mark A Gooch, Chairman Eugenia “Crit” Luallen, Vice Chairman Franklin H. Farris, Jr. Ina Michelle Matthews James E. McGhee II Franky Minnifield Jefferson F. Sandlin Anthony St. Charles Chad C. Street Lillian “Kay” Webb 2 CTB Directors Mark A. Gooch, Chairman Franklin H. Farr
Slide 3: Executive Officers
Executive Officers 3 Mark A. Gooch Chairman, President, and CEO Richard W. Newsom CTB President Andy D. Waters CTIC President and CEO Kevin J. Stumbo EVP/Chief Financial Officer Steven E. Jameson EVP/Chief Internal Audit and Risk Officer Mark E. Smith EVP/Chief Credit Officer Thomas E. McCoy EVP/Ope
Slide 4: Cautionary Statement
Cautionary Statement Information provided herein by CTBI contains “forward-looking” information. CTBI cautions that any forward-looking statements made are not guarantees of future performance and that actual results may differ materially from those in the forward-looking statements. Please refer to
Slide 5: 2024 Key Metrics
2024 Key Metrics Total Assets $6.2 billion Market Capitalization $957.6 million Cash Dividend Yield 3.55% P/E Ratio 11.5x Price to Book Value 1.3x Price to Tangible Book Value 1.4x Tangible Common Equity Ratio 11.29% Competitive Position 3rd largest Kentucky domiciled bank holding company 2nd in Ken
Slide 6: Our Banking Franchise
Our Banking Franchise Central Region Eastern Region Northeastern Region Loans - $1.1 billion Loans - $1.1 billion Loans - $494 million Deposits - $1.4 billion Deposits - $2.1 billion Deposits - $706 million • Danville • Floyd/Knott/Johnson • Advantage Valley • Lexington • Hazard • Ashland • Mt. Ster
Slide 7: Trust Assets Under Management & Trust Revenue
Trust Assets Under Management & Trust Revenue Includes CTB portfolio Assets in billions Revenue in millions 7
Slide 8: 2024 Performance
2024 Performance Community Trust Bancorp, Inc.
Slide 9: 2024 Performance Summary
2024 Performance Summary Goals Results Earnings $77.7 - $80.8 million $82.8 million EPS $4.31 - $4.49 per share $4.61 per share ROAA 1.33% - 1.39% 1.41% ROAE 10.99% - 11.44% 11.31% Assets $5.74 - $6.10 billion $6.19 billion Loans $4.18 - $4.35 billion $4.49 billion Deposits $4.97 - $5.17 billion $5.
Slide 10: Shareholder Value
Za Community Trust Bancorp, Inc. Shareholder Value
Slide 11: Dividends Per Share
Dividends Per Share 2024 cash dividends increased 3.3% Dividend payout ratio for 2024 was 40.3% Desired level between 40% and 50% December 31, 2024 cash dividend yield was 3.55% Cash dividend increased to $0.47 per share effective October 1, 2024 11
Slide 12: Shareholders' Equity
Shareholders’ Equity Shareholders’ equity has increased 15.7% during the past five years 4.3% compound growth rate for the past five years (in millions) 12 4.3%
Slide 13: Book Value Per Share; Tangible Common Equity/Assets
Book Value Per Share Tangible Common Equity/Assets 13
Slide 14: Cumulative Total Return Comparison
5 Year Cumulative Total ReturnComparison of CTBI, NASDAQ Stock Market (U.S.), and NASDAQ Bank Stocks An investment in CTBI stock on December 31, 2019 would have underperformed the NASDAQ Stock Market (U.S.) and the NASDAQ Bank Stocks Index at December 31, 2024. 15
Slide 15: Comparison to Russell 2000 Index
Comparison to Russell 2000 Indexof Small Cap Companies 3-, 5-, and 10-year total returns annualized Return to Investors December 31, 2024 16
Slide 16: Core Value Long-Term Investment
Core Value Long-Term Investment 12 stock splits and 10 stock dividends 44 years of consecutive increases in cash dividends 5-year compound growth rate of cash dividends 4.7% Stock included in the NASDAQ Global Select Market, NASDAQ Dividend Achievers Index, and NASDAQ Bank Stock Index CTBI sharehold
Slide 17: CTBI's Franchise Value
CTBI’s Franchise Value History of solid investor returns Historically strong capital position Investor focused dividend policy Dividend Achievers Index Consistent financial performance Community banking strategy Economic diversity in the markets we serve Strong experienced management team and nearly
Slide 18: Earnings Review
Earnings Review MDyemmunity Trust Bancorp, Inc.
Slide 19: Earnings Per Share
Earnings Per Share EPS increased 5.8% from 2023 to 2024 20
Slide 20: Return on Average Assets
Return on Average Assets Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 12/31/2024 for bank holding companies with consolidated assets of $3 billion to $10 billion. 21
Slide 21: Net Income
Net Income Net income increased 6.2% from 2023 to 2024 (in millions) 22
Slide 22: Revenues
Revenues Revenues increased 7.7% from 2023 to 2024 (in millions) 23
Slide 23: Noninterest Income as a % of Total Revenue
Noninterest Incomeas a % of Total Revenue Noninterest income increased 8.5% from 2023 to 2024 Increases in loan related fees, trust revenue, and bank owned life insurance revenue (in millions) 24
Slide 24: Net Interest Revenue
Net Interest Revenue Net interest revenue increased by 7.4% from 2023 to 2024 Net interest margin at 3.36% increased 4 basis points from 2023 Average earning assets increased $325.8 million, or 6.2% (in millions) 25
Slide 25: Net Interest Margin
Net Interest Margin Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 12/31/2024 for bank holding companies with consolidated assets of $3 billion to $10 billion. 26 Dec ’24 Sept ’24 Jun ’24 Mar ’24 Dec ’23 Sept ’23 Net Interest Margin 3.43% 3.34% 3.38% 3.23%
Slide 26: Net Noninterest Expense and Efficiency Ratio
Net Noninterest Expenseas a % of Average Earning Assets Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 12/31/2024 for bank holding companies with consolidated assets of $3 billion to $10 billion. (in millions) Noninterest Expense & Efficiency Ratio (in mill
Slide 27: Balance Sheet Review
Za Community Trust Bancorp, Inc. Balance Sheet Review
Slide 28: Total Assets
Total Assets Total assets at 12/31/24 increased $423.5 million, or 7.3%, from 12/31/23 Loans increased $435.7 million or 10.8% Investment portfolio decreased $107.4 million or 9.2% Deposits increased $360.5 million or 7.3% (in billions) 29
Slide 29: Total Loans
Total Loans Total loans at 12/31/24 increased 10.8% from 12/31/23 Loan and line of credit production for the year totaled $1.1 billion (in billions) 29 Loan Portfolio Mix December 31, 2024 Loan Rate Mix December 31, 2024
Slide 30: Concentrations of Credit as a % of Total Loans
Concentrations of Creditas a % of Total Loans December 31, 2024 The net losses in non-residential real estate rental were 0.01%. There were no net losses in apartments and rental housing or hospitality. There were no net losses in nonperforming loans in any of these loan categories for the year 2024
Slide 31: Indirect Lending
31 Indirect Lending (in millions)
Slide 32: Net Charge-offs as a % of Average Loans
Net Charge-offsas a % of Average Loans Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 12/31/2024 for bank holding companies with consolidated assets of $3 billion to $10 billion. Nonperforming Loansas a % of Total Loans 32
Slide 33: Nonperforming Assets as a % of Total Assets
Nonperforming Assetsas a % of Total Assets $3.6 million in other real estate owned Loan Loss Reserve as a % of Net Loans Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 12/31/2024 for bank holding companies with consolidated assets of $3 billion to $10 billi
Slide 34: Total Deposits including Repurchase Agreements
Total Depositsincluding Repurchase Agreements (in billions) December 31, 2024 35
Slide 35: 1st Quarter 2025 Review
1st Quarter 2025 Review Community Trust Bancorp, Inc.
Slide 36: Key Metrics – 1st Quarter 2025
Key Metrics – 1st Quarter 2025 Total Assets $6.3 billion Market Capitalization $911.6 million Cash Dividend Yield 3.7% P/E Ratio 10.2x Price to Book Value 1.2x Price to Tangible Book Value 1.3x Tangible Common Equity Ratio 11.57% Financial data as of March 31, 2025 37
Slide 37: Earnings Per Share
Earnings Per Share 1.09 $1.04 s Mar ‘24 Jun ‘24 $1.23 Sept '24 $1.25 Dec '24 $1.22 Mar ‘25 38
Slide 38: Net Income
Net Income (in millions) $18.7 Mar ‘24 $19.5 Jun ‘24 $22.1 Sept '24 $22.5 Dec '24 $22.0 Mar '25 39
Slide 39: Earnings
Earnings Net interest income for the quarter of $51.3 million was $1.7 million, or 3.5%, above prior quarter and $7.7 million, or 17.6%, above first quarter 2024. Provision for loan losses for the quarter of $3.6 million was $1.0 million above prior quarter and $0.9 million above first quarter 2024.
Slide 40: Noninterest Income
Noninterest Income Q-O-Q decreases in deposit related fees and loan related fees Y-O-Y decreases in loan related fees, bank owned life insurance revenue, and deposit related fees, partially offset by increases in trust revenue and securities gains (in millions) 41
Slide 41: Noninterest Expense
Noninterest Expense Q-O-Q increases in occupancy expense and legal fees, partially offset by a decrease in data processing expense Y-O-Y increase in occupancy expense, data processing expense, legal fees, operating losses, and loan related expenses 42 (in millions)
Slide 42: Total Assets
Total Assets Total assets at 3/31/25 increased $83.3 million, or an annualized 5.5%, during the first quarter Loans increased $149.9 million Investment portfolio decreased $46.7 million Deposits in other banks decreased $24.4 million Deposits, including repurchase agreements, increased $47.5 million
Slide 43: Total Loans
Total Loans Increased at an annualized rate of 13.5% during the quarter Increased from prior year first quarter 11.4% 43 (in millions)
Slide 44: Nonperforming Loans as a % of Total Loans
Nonperforming Loansas a % of Total Loans 44
Slide 45: Nonperforming Assets as a % of Total Assets
Nonperforming Assetsas a % of Total Assets 45
Slide 46: Net Charge-offs as a % of Average Loans (annualized)
Net Charge-offsas a % of Average Loans (annualized) 46
Slide 47: Allowance for Credit Losses
Allowance for Credit Losses Provision for loan losses for the quarter was $3.6 million, compared to $2.6 million for the quarter ended December 31, 2024 and $2.7 million for the first quarter 2024. $2.0 million to fund loan growth Our reserve coverage (allowance for credit losses to nonperforming lo
Slide 48: Total Deposits including Repurchase Agreements
Total Depositsincluding Repurchase Agreements Increased an annualized 3.6% from prior quarter Increased 6.8% from prior year first quarter 48 (in billions)
Slide 49: Efficiency Ratio
Efficiency Ratio 54.94% , | Mar '24 Jun ‘24 51.75% Sept '24 51.60% Dec '24 51.86% Mar ‘25 49
Slide 50: Key Strategic Initiatives
Key Strategic Initiatives
Slide 51: Operational Priorities
Operational Priorities Build core earnings capacity Quality loan growth Low cost deposit growth Branch expansion in growth markets Manage net interest margin Operational efficiency Expense control Noninterest revenue growth Compliance management Increase noninterest income Trust and wealth managemen
Slide 52: To Our Shareholders
To Our Shareholders Your management has a Strategic Plan for the performance and operations of your company. Success will be attained by the execution of this plan, not just by management, but by our nearly 1,000 employees. The continuing support by you, our shareholders, by referring your friends,
Slide 53: Community Trust Bancorp, Inc.
Community Trust Bancorp — Shareholder Meeting (April 2025) on 6ix