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Community Trust Bancorp, Inc. Reports Increased Earnings For Third Quarter And YTD 2011

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

 
Earnings Summary
(in thousands except per share data)    

3Q

2011

    2Q

2011

    3Q

2010

    9 Months

2011

    9 Months

2010

 
Net income     $ 10,665     $ 8,970     $ 8,450    

$

28,939     $ 23,794
Earnings per share $ 0.70 $ 0.59 $ 0.55 $ 1.89 $ 1.56
Earnings per share—diluted $ 0.70 $ 0.58 $ 0.55 $ 1.89 $ 1.56
 
Return on average assets 1.20% 1.03% 1.04% 1.11% 1.00%
Return on average equity 11.75% 10.23% 9.95% 10.99% 9.62%
Efficiency ratio 58.10% 61.91% 59.52% 60.25% 59.79%
Tangible common equity 8.44% 8.35% 8.58% 8.44% 8.58%
 
Dividends declared per share $ 0.310 $ 0.305 $ 0.305 $ 0.920 $ 0.905
Book value per share $ 23.44 $ 22.87 $ 22.01 $ 23.44 $ 22.01
 
Weighted average shares 15,318 15,308 15,239 15,307 15,223
Weighted average shares—diluted       15,339       15,332       15,275       15,331       15,260  
 

Community Trust Bancorp, Inc. (NASDAQ: CTBI) reports earnings of $10.7 million, or $0.70 per basic share, compared to $8.5 million, or $0.55 per basic share, earned during the third quarter of 2010 and $9.0 million, or $0.59 per basic share, earned during the second quarter 2011. Earnings for the nine months ended September 30, 2011 increased 21.6% to $28.9 million, or $1.89 per basic share, from the $23.8 million, or $1.56 per basic share, earned during the nine months ended September 30, 2010.

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