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Community Trust Bancorp, Inc. Reports Increased Earnings For First Quarter 2011

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

     
Earnings Summary
(in thousands except per share data)   1Q

2011

  4Q

2010

  1Q

2010

Net income $ 9,304 $ 9,240 $ 6,791
Earnings per share $ 0.61 $ 0.61 $ 0.45
Earnings per share—diluted $ 0.61 $ 0.60 $ 0.45
 
Return on average assets 1.11% 1.11% 0.88%
Return on average equity 10.96% 10.71% 8.47%
Efficiency ratio 60.78% 58.50% 59.45%
Tangible common equity 8.19% 8.26% 8.36%
 
Dividends declared per share $ 0.305 $ 0.305 $ 0.30
Book value per share $ 22.38 $ 22.08 $ 21.26
 
Weighted average shares 15,294 15,265 15,202
Weighted average shares—diluted     15,324     15,294     15,235
 

Community Trust Bancorp, Inc. (NASDAQ:CTBI) reports a 37.0% increase in earnings to $9.3 million, or $0.61 per basic share, compared to $6.8 million, or $0.45 per basic share, earned during the first quarter of 2010. Earnings increased 0.7% from the $9.2 million, or $0.61 per basic share, earned during the quarter ended December 31, 2010.

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