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Community Trust Bancorp, Inc. Reports 32% Increase In 2010 Earnings

Community Trust Bancorp, Inc. (NASDAQ: CTBI):

         
Earnings Summary
 
(in thousands except per share data)   4Q

2010

  3Q

2010

  4Q

2009

  Year

2010

  Year

2009

Net income $ 9,240 $ 8,450 $ 6,958 $ 33,034 $ 25,059
Earnings per share $ 0.61 $ 0.55 $ 0.46 $ 2.17 $ 1.66
Earnings per share—diluted $ 0.60 $ 0.55 $ 0.46 $ 2.16 $ 1.65
 
Return on average assets 1.11% 1.04% 0.90% 1.03% 0.82%
Return on average equity 10.71% 9.95% 8.58% 9.90% 7.89%
Efficiency ratio 58.50% 59.52% 60.74% 59.45% 63.56%
Tangible common equity 8.27% 8.58% 8.47% 8.27% 8.47%
 
Dividends declared per share $ 0.305 $ 0.305 $ 0.30 $ 1.21 $ 1.20
Book value per share $ 22.16 $ 22.10 $ 21.17 $ 22.16 $ 21.17
 
Weighted average shares 15,265 15,239 15,168 15,234 15,129
Weighted average shares—diluted     15,294     15,275     15,200     15,259     15,169
 

Community Trust Bancorp, Inc. (NASDAQ: CTBI) reports earnings increased 32.8% for the fourth quarter 2010 to $9.2 million, or $0.61 per basic share, compared to $7.0 million, or $0.46 per basic share, earned during the fourth quarter of 2009 and 9.4% from the $8.5 million, or $0.55 per basic share, earned during the quarter ended September 30, 2010. Earnings for the year ended December 31, 2010 increased 31.8% to $33.0 million, or $2.17 per basic share, compared to $25.1 million, or $1.66 per basic share, for the year ended December 31, 2009.

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