CTBI reports earnings
On July 15, 2020, the Board of Directors of Community Trust Bancorp, Inc., (NASDAQ-CTBI) reported earnings for the second quarter 2020 of $19.7 million, or $1.11 per basic share, compared to $6.6 million, or $0.37 per basic share, earned during the first quarter 2020 and $18.3 million, or $1.03 per basic share, earned during the second quarter 2019. The increase in earnings for the quarter was impacted by a $12.8 million positive variance in charges to the provision for credit losses. Year-to-date earnings for the six months ended June 30, 2020 were $26.2 million, or $1.48 per basic share, compared to $33.3 million, or $$1.88 per basic share, for the six months ended June 30, 2019. Community Trust Bancorp, Inc., with assets of $5.0 billion, is headquartered in Pikeville and has 70 banking locations across Kentucky, including two in Versailles, six banking locations in southern West Virginia, three banking locations in northeastern Tennessee, four trust offices across Kentucky, and one trust office in Tennessee.