Community Trust Bancorp, Inc. Reports Earnings for the 2nd Quarter 2023

Business Wire
22 min read
0
In this article:

PIKEVILLE, Ky., July 19, 2023--(BUSINESS WIRE)--Community Trust Bancorp, Inc. (NASDAQ-CTBI):

Earnings Summary

(in thousands except per share data)

2Q
2023

1Q
2023

2Q
2022

YTD
2023

YTD
2022

Net income

$19,404

$19,313

$20,271

$38,717

$39,999

Earnings per share

$1.09

$1.08

$1.14

$2.17

$2.24

Earnings per share - diluted

$1.08

$1.08

$1.14

$2.16

$2.24

Return on average assets

1.41%

1.44%

1.49%

1.42%

1.48%

Return on average equity

11.72%

12.03%

12.75%

11.87%

12.25%

Efficiency ratio

53.52%

55.29%

53.77%

54.40%

53.51%

Tangible common equity

10.90%

10.82%

10.53%

Dividends declared per share

$0.44

$0.44

$0.40

$0.88

$0.80

Book value per share

$36.71

$36.54

$35.32

Weighted average shares

17,884

17,872

17,835

17,877

17,827

Weighted average shares - diluted

17,890

17,884

17,843

17,885

17,838

Community Trust Bancorp, Inc. (NASDAQ-CTBI) achieved earnings for the second quarter 2023 of $19.4 million, or $1.09 per basic share, compared to $19.3 million, or $1.08 per basic share, earned during the first quarter 2023 and $20.3 million, or $1.14 per basic share, earned during the second quarter 2022. Total revenue was $0.2 million above prior quarter and $2.5 million above prior year same quarter. Net interest revenue decreased $0.8 million compared to prior quarter but increased $2.3 million compared to prior year same quarter, and noninterest income increased $1.1 million compared to prior quarter and $0.3 million compared to prior year same quarter. Our provision for credit losses for the quarter increased $0.9 million for the quarter and was $1.9 million higher than second quarter 2022. Noninterest expense decreased $0.9 million compared to prior quarter but was $1.0 million higher than prior year same quarter. Earnings for the six months ended June 30, 2023 were $38.7 million, or $2.17 per basic share, compared to $40.0 million, or $2.24 per basic share for the six months ended June 30, 2022.

2nd Quarter 2023 Highlights

  • Net interest income for the quarter of $43.1 million was $0.8 million below prior quarter but $2.3 million above prior year same quarter, as our net interest margin decreased 14 basis points from prior quarter but increased 15 basis points from prior year same quarter.

  • Provision for credit losses at $2.0 million for the quarter increased $0.9 million from prior quarter and $1.9 million from prior year same quarter.

  • Our loan portfolio at $3.9 billion increased $152.3 million, an annualized 16.2%, from March 31, 2023 and $371.3 million, or 10.4%, from June 30, 2022.

  • We had net loan charge-offs of $674 thousand, or 0.07% of average loans annualized for the second quarter 2023 compared to $414 thousand, or 0.04% of average loans annualized for the first quarter 2023 and $43 thousand, or 0.00% of average loans annualized, for the quarter ended June 30, 2022.

  • Our total nonperforming loans decreased to $11.7 million at June 30, 2023 from $12.2 million at March 31, 2023 and $13.8 million at June 30, 2022. Nonperforming assets at $13.8 million decreased $1.2 million from March 31, 2023 and $2.0 million from June 30, 2022.

  • Deposits, including repurchase agreements, at $4.7 billion decreased $6.5 million, or an annualized 0.6%, from March 31, 2023 but increased $34.0 million, or 0.7% from June 30, 2022.

  • Shareholders’ equity at $660.1 million increased $3.3 million, or an annualized 2.0%, during the quarter and $28.1 million, or 4.4%, from June 30, 2022.

  • Noninterest income for the quarter ended June 30, 2023 of $14.8 million was $1.1 million, or 7.9%, above prior quarter and $0.3 million, or 1.8%, above prior year same quarter.

  • Noninterest expense for the quarter ended June 30, 2023 of $31.0 million was $0.9 million, or 2.7%, below prior quarter but $1.0 million, or 3.5%, above prior year same quarter.

Net Interest Income

Percent Change

2Q 2023
Compared to:

($ in thousands)

2Q
2023

1Q
2023

2Q
2022

1Q
2023

2Q
2022

YTD
2023

YTD
2022

Percent
Change

Components of net interest income:

Income on earning assets

$64,827

$60,995

$45,352

6.3%

42.9%

$125,822

$88,879

41.6%

Expense on interest bearing liabilities

21,748

17,079

4,562

27.3%

376.7%

38,827

8,057

381.9%

Net interest income

43,079

43,916

40,790

(1.9%)

5.6%

86,995

80,822

7.6%

TEQ

298

298

232

0.1%

28.6%

596

467

27.6%

Net interest income, tax equivalent

$43,377

$44,214

$41,022

(1.9%)

5.7%

$87,591

$81,289

7.8%

Average yield and rates paid:

Earning assets yield

5.03%

4.84%

3.56%

3.9%

41.5%

4.94%

3.51%

40.9%

Rate paid on interest bearing liabilities

2.54%

2.06%

0.54%

23.3%

368.2%

2.30%

0.48%

376.7%

Gross interest margin

2.49%

2.78%

3.02%

(10.4%)

(17.5%)

2.64%

3.03%

(12.8%)

Net interest margin

3.35%

3.49%

3.20%

(4.1%)

4.7%

3.42%

3.19%

7.3%

Average balances:

Investment securities

$1,230,556

$1,251,948

$1,452,021

(1.7%)

(15.3%)

$1,241,193

$1,468,193

(15.5%)

Loans

$3,836,446

$3,739,443

$3,538,324

2.6%

8.4%

$3,788,213

$3,489,652

8.6%

Earning assets

$5,189,716

$5,131,385

$5,140,656

1.1%

1.0%

$5,160,712

$5,137,421

0.5%

Interest-bearing liabilities

$3,435,072

$3,362,331

$3,373,741

2.2%

1.8%

$3,398,902

$3,362,039

1.1%

Net interest income for the quarter of $43.1 million was $0.8 million below prior quarter but $2.3 million above prior year same quarter. Our net interest margin, on a fully tax equivalent basis, at 3.35% decreased 14 basis points from prior quarter but increased 15 basis points from prior year same quarter. Our average earning assets increased $58.3 million from prior quarter and $49.1 million from prior year same quarter. Our yield on average earning assets increased 19 basis points from prior quarter and 147 basis points from prior year same quarter, and our cost of funds increased 48 basis points from prior quarter and 200 basis points from prior year same quarter. Money market accounts, certificates of deposit, and other time deposits all experienced significant increases in rates during the quarter. Our net interest income for the six months ended June 30, 2023 was $87.0 million compared to $80.8 million for the six months ended June 30, 2022.

Our ratio of average loans to deposits, including repurchase agreements, was 81.2% for the quarter ended June 30, 2023 compared to 79.8% for the quarter ended March 31, 2023 and 75.2% for the quarter ended June 30, 2022.

Noninterest Income

Percent Change

2Q 2023
Compared to:

($ in thousands)

2Q
2023

1Q
2023

2Q
2022

1Q
2023

2Q
2022

YTD
2023

YTD
2022

Percent
Change

Deposit related fees

$7,513

$7,287

$7,263

3.1%

3.4%

$14,800

$14,009

5.6%

Trust revenue

3,351

3,079

3,198

8.9%

4.8%

6,430

6,446

(0.2%)

Gains on sales of loans

115

121

519

(5.3%)

(77.9%)

236

1,116

(78.9%)

Loan related fees

1,197

845

1,415

41.7%

(15.4%)

2,042

3,477

(41.3%)

Bank owned life insurance revenue

735

858

702

(14.4%)

4.7%

1,593

1,393

14.4%

Brokerage revenue

388

348

459

11.5%

(15.4%)

736

1,049

(29.8%)

Other

1,457

1,144

945

27.4%

54.3%

2,601

1,976

31.6%

Total noninterest income

$14,756

$13,682

$14,501

7.9%

1.8%

$28,438

$29,466

(3.5%)

Noninterest income for the quarter ended June 30, 2023 of $14.8 million was $1.1 million, or 7.9%, above prior quarter and $0.3 million, or 1.8%, above prior year same quarter. The quarter over quarter increase included a $0.2 million increase in deposit related fees, a $0.3 million increase in trust revenue, and a $0.4 million increase in loan related fees due to the change in the fair market value of our mortgage servicing rights. The year over year increase included a $0.3 million increase in deposit related fees, a $0.2 million increase in trust revenue, and a $0.4 million increase in securities gains, partially offset by a $0.4 million decline in gains on sales of loans and a $0.2 million decline in loan related fees also resulting from the fluctuation in the fair market value of our mortgage servicing rights. Noninterest income for the first six months of 2023 was $28.4 million compared to $29.5 million for the six months ended June 30, 2022.

Noninterest Expense

Percent Change

2Q 2023
Compared to:

($ in thousands)

2Q
2023

1Q
2023

2Q
2022

1Q
2023

2Q
2022

YTD
2023

YTD
2022

Percent
Change

Salaries

$12,732

$12,633

$12,219

0.8%

4.2%

$25,365

$23,958

5.9%

Employee benefits

5,573

6,275

6,315

(11.2%)

(11.7%)

11,848

12,114

(2.2%)

Net occupancy and equipment

2,895

3,028

2,756

(4.4%)

5.1%

5,923

5,610

5.6%

Data processing

2,383

2,303

2,095

3.5%

13.8%

4,686

4,296

9.1%

Legal and professional fees

912

816

884

11.8%

3.2%

1,728

1,751

(1.3%)

Advertising and marketing

704

820

659

(14.1%)

6.9%

1,524

1,411

8.0%

Taxes other than property and payroll

433

432

425

0.1%

1.7%

865

851

1.6%

Net other real estate owned expense

61

119

43

(48.4%)

43.6%

180

396

(54.6%)

Other

5,332

5,464

4,582

(2.4%)

16.4%

10,796

8,950

20.6%

Total noninterest expense

$31,025

$31,890

$29,978

(2.7%)

3.5%

$62,915

$59,337

6.0%

Noninterest expense for the quarter ended June 30, 2023 of $31.0 million was $0.9 million, or 2.7%, below prior quarter but $1.0 million, or 3.5%, above prior year same quarter. The decrease in noninterest expense quarter over quarter was primarily a result of a decrease in the accruals for incentive payments based on our current projected earnings for the year. The year over year increase included a $0.3 million increase in data processing expense, a $0.3 million increase in FDIC insurance premiums, and a $0.1 million increase in occupancy and equipment. A year over year decrease in personnel costs of $0.2 million was the result of reduction in the accruals for incentive payments of $1.3 million, partially offset by increases in salary expense ($0.5 million), group medical and life insurance expense ($0.5 million), and other employee benefits ($0.1 million). Noninterest expense for the first six months of 2023 was $62.9 million compared to $59.3 million for the six months ended June 30, 2022.

Balance Sheet Review

Total Loans

Percent Change

2Q 2023 Compared to:

($ in thousands)

2Q
2023

1Q
2023

2Q
2022

1Q
2023

2Q
2022

Commercial nonresidential real estate

$787,598

$750,498

$758,227

4.9%

3.9%

Commercial residential real estate

393,309

385,328

354,668

2.1%

10.9%

Hotel/motel

372,981

348,876

280,956

6.9%

32.8%

Other commercial

396,741

392,398

403,664

1.1%

(1.7%)

Total commercial

1,950,629

1,877,100

1,797,515

3.9%

8.5%

Residential mortgage

883,104

846,435

793,249

4.3%

11.3%

Home equity loans/lines

132,033

124,096

110,828

6.4%

19.1%

Total residential

1,015,137

970,531

904,077

4.6%

12.3%

Consumer indirect

806,081

772,570

697,060

4.3%

15.6%

Consumer direct

157,848

157,158

159,791

0.4%

(1.2%)

Total consumer

963,929

929,728

856,851

3.7%

12.5%

Total loans

$3,929,695

$3,777,359

$3,558,443

4.0%

10.4%

Total Deposits and Repurchase Agreements

Percent Change

2Q 2023 Compared to:

($ in thousands)

2Q
2023

1Q
2023

2Q
2022

1Q
2023

2Q
2022

Non-interest bearing deposits

$1,361,078

$1,409,839

$1,408,148

(3.5%)

(3.3%)

Interest bearing deposits

Interest checking

142,542

120,678

99,055

18.1%

43.9%

Money market savings

1,389,081

1,408,314

1,243,817

(1.4%)

11.7%

Savings accounts

611,772

642,232

671,349

(4.7%)

(8.9%)

Time deposits

1,012,187

962,361

1,050,559

5.2%

(3.7%)

Repurchase agreements

229,020

208,777

238,733

9.7%

(4.1%)

Total interest bearing deposits and repurchase agreements

3,384,602

3,342,362

3,303,513

1.3%

2.5%

Total deposits and repurchase agreements

$4,745,680

$4,752,201

$4,711,661

(0.1%)

0.7%

CTBI’s total assets at $5.5 billion as of June 30, 2023 decreased $8.5 million, or 0.6% annualized, from March 31 2023 but increased $73.4 million, or 1.3%, from June 30, 2022. Loans outstanding at June 30, 2023 were $3.9 billion, an increase of $152.3 million, an annualized 16.2%, from March 31, 2023 and $371.3 million, or 10.4%, from June 30, 2022. The increase in loans from prior quarter included a $73.5 million increase in the commercial loan portfolio, a $44.6 million increase in the residential loan portfolio, a $33.5 million increase in the indirect consumer loan portfolio, and a $0.7 million increase in the consumer direct loan portfolio. CTBI’s investment portfolio decreased $39.7 million, or an annualized 12.8%, from March 31, 2023 and $200.5 million, or 14.3%, from June 30, 2022. Deposits in other banks decreased $117.5 million from prior quarter and $78.7 million from June 30, 2022. Deposits, including repurchase agreements, at $4.7 billion decreased $6.5 million, or an annualized 0.6%, from March 31, 2023 but increased $34.0 million, or 0.7%, from June 30, 2022.

Shareholders’ equity at $660.1 million increased $3.3 million, or an annualized 2.0%, during the quarter and $28.1 million, or 4.4%, from June 30, 2022, as unrealized losses on our securities portfolio continue to impact equity. Net unrealized losses on securities, net of deferred taxes, were $121.3 million at June 30, 2023, compared to $112.4 million at March 31, 2023 and $97.9 million at June 30, 2022. Management has evaluated the unrealized losses and determined that they were primarily driven by market rates. Management has the ability and intent to hold these securities to recovery or maturity. CTBI’s annualized dividend yield to shareholders as of June 30, 2023 was 4.95%.

Asset Quality

Our total nonperforming loans decreased to $11.7 million at June 30, 2023 from $12.2 million at March 31, 2023 and $13.8 million at June 30, 2022. Prior year nonperforming loans, as previously reported, exclude troubled debt restructurings which have been eliminated in the current period due to implementation of Accounting Standard Update 2022-02. Accruing loans 90+ days past due at $6.4 million increased $0.2 million from prior quarter and $1.4 million from June 30, 2022. Nonaccrual loans at $5.3 million decreased $0.6 million from prior quarter and $3.5 million from June 30, 2022. Accruing loans 30-89 days past due at $12.2 million increased $0.4 million from prior quarter and $1.6 million from June 30, 2022. Our loan portfolio management processes focus on the immediate identification, management, and resolution of problem loans to maximize recovery and minimize loss.

Our level of foreclosed properties was $2.0 million at June 30, 2023 compared to $2.8 million at March 31, 2023 and $2.0 million at June 30, 2022. Sales of foreclosed properties for the quarter ended June 30, 2023 totaled $0.9 million while new foreclosed properties totaled $0.1 million. At June 30, 2023, the book value of properties under contracts to sell was $0.7 million; however, the closings had not occurred at quarter-end.

We had net loan charge-offs of $674 thousand, or 0.07% of average loans annualized for the second quarter 2023 compared to $414 thousand, or 0.04% of average loans annualized for the first quarter 2023 and $43 thousand, or 0.00% of average loans annualized, for the quarter ended June 30, 2022. Net charge-offs for the six months ended June 30, 2023 were $1.1 million, or 0.06% of average loans annualized compared to $0.4 million, or 0.02% of average loans annualized for the six months ended June 30, 2022.

Allowance for Credit Losses

Our provision for credit losses for the quarter increased $0.9 million from prior quarter and $1.9 million from prior year same quarter. Our reserve coverage (allowance for credit losses to nonperforming loans) at June 30, 2023 was 408.9% compared to 382.3% at March 31, 2023 and 305.9% at June 30, 2022. Our credit loss reserve as a percentage of total loans outstanding at June 30, 2023 was 1.22% compared to 1.24% at March 31, 2023 and 1.19% at June 30, 2022.

Forward-Looking Statements

Certain of the statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Community Trust Bancorp, Inc.’s ("CTBI") actual results may differ materially from those included in the forward-looking statements. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "intend," "estimate," "may increase," "may fluctuate," and similar expressions or future or conditional verbs such as "will," "should," "would," and "could." These forward-looking statements involve risks and uncertainties including, but not limited to, economic conditions, portfolio growth, the credit performance of the portfolios, including bankruptcies, and seasonal factors; changes in general economic conditions including the performance of financial markets, prevailing inflation and interest rates, realized gains from sales of investments, gains from asset sales, and losses on commercial lending activities; the effects of the COVID-19 pandemic on our business operations and credit quality and on general economic and financial market conditions, as well as our ability to respond to the related challenges; results of various investment activities; the effects of competitors’ pricing policies, changes in laws and regulations, competition, and demographic changes on target market populations’ savings and financial planning needs; industry changes in information technology systems on which we are highly dependent; failure of acquisitions to produce revenue enhancements or cost savings at levels or within the time frames originally anticipated or unforeseen integration difficulties; and the resolution of legal proceedings and related matters. In addition, the banking industry in general is subject to various monetary, operational, and fiscal policies and regulations, which include, but are not limited to, those determined by the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Consumer Financial Protection Bureau, and state regulators, whose policies, regulations, and enforcement actions could affect CTBI’s results. These statements are representative only on the date hereof, and CTBI undertakes no obligation to update any forward-looking statements made.

Community Trust Bancorp, Inc., with assets of $5.5 billion, is headquartered in Pikeville, Kentucky and has 70 banking locations across eastern, northeastern, central, and south central Kentucky, six banking locations in southern West Virginia, three banking locations in northeastern Tennessee, four trust offices across Kentucky, and one trust office in Tennessee.

Additional information follows.

Community Trust Bancorp, Inc.

Financial Summary (Unaudited)

June 30, 2023

(in thousands except per share data and # of employees)

Three

Three

Three

Six

Six

Months

Months

Months

Months

Months

Ended

Ended

Ended

Ended

Ended

June 30, 2023

March 31, 2023

June 30, 2022

June 30, 2023

June 30, 2022

Interest income

$

64,827

$

60,995

$

45,352

$

125,822

$

88,879

Interest expense

21,748

17,079

4,562

38,827

8,057

Net interest income

43,079

43,916

40,790

86,995

80,822

Loan loss provision

2,009

1,116

77

3,125

952

Gains on sales of loans

115

121

519

236

1,116

Deposit related fees

7,513

7,287

7,263

14,800

14,009

Trust revenue

3,351

3,079

3,198

6,430

6,446

Loan related fees

1,197

845

1,415

2,042

3,477

Securities gains (losses)

165

218

(225)

383

(126)

Other noninterest income

2,415

2,132

2,331

4,547

4,544

Total noninterest income

14,756

13,682

14,501

28,438

29,466

Personnel expense

18,305

18,908

18,534

37,213

36,072

Occupancy and equipment

2,895

3,028

2,756

5,923

5,610

Data processing expense

2,383

2,303

2,095

4,686

4,296

FDIC insurance premiums

610

606

358

1,216

713

Other noninterest expense

6,832

7,045

6,235

13,877

12,646

Total noninterest expense

31,025

31,890

29,978

62,915

59,337

Net income before taxes

24,801

24,592

25,236

49,393

49,999

Income taxes

5,397

5,279

4,965

10,676

10,000

Net income

$

19,404

$

19,313

$

20,271

$

38,717

$

39,999

Memo: TEQ interest income

$

65,125

$

61,293

$

45,584

$

126,418

$

89,346

Average shares outstanding

17,884

17,872

17,835

17,877

17,827

Diluted average shares outstanding

17,890

17,884

17,843

17,885

17,838

Basic earnings per share

$

1.09

$

1.08

$

1.14

$

2.17

$

2.24

Diluted earnings per share

$

1.08

$

1.08

$

1.14

$

2.16

$

2.24

Dividends per share

$

0.44

$

0.44

$

0.40

$

0.88

$

0.800

Average balances:

Loans

$

3,836,446

$

3,739,443

$

3,538,324

$

3,788,213

$

3,489,652

Earning assets

5,189,716

5,131,385

5,140,656

5,160,712

5,137,421

Total assets

5,509,776

5,458,067

5,446,263

5,484,065

5,432,110

Deposits, including repurchase agreements

4,727,386

4,688,103

4,705,492

4,707,853

4,669,938

Interest bearing liabilities

3,435,072

3,362,331

3,373,741

3,398,902

3,362,039

Shareholders' equity

663,896

651,008

637,542

657,488

658,419

Performance ratios:

Return on average assets

1.41%

1.44%

1.49%

1.42%

1.48%

Return on average equity

11.72%

12.03%

12.75%

11.87%

12.25%

Yield on average earning assets (tax equivalent)

5.03%

4.84%

3.56%

4.94%

3.51%

Cost of interest bearing funds (tax equivalent)

2.54%

2.06%

0.54%

2.30%

0.48%

Net interest margin (tax equivalent)

3.35%

3.49%

3.20%

3.42%

3.19%

Efficiency ratio (tax equivalent)

53.52%

55.29%

53.77%

54.40%

53.51%

Loan charge-offs

$

1,953

$

1,765

$

828

$

3,718

$

2,148

Recoveries

(1,279)

(1,351)

(786)

(2,630)

(1,784)

Net charge-offs

$

674

$

414

$

42

$

1,088

$

364

Market Price:

High

$

40.30

$

47.35

$

42.91

$

47.35

$

46.30

Low

$

32.68

$

37.31

$

39.10

$

32.68

$

39.10

Close

$

35.57

$

37.95

$

40.44

$

35.57

$

40.44

As of

As of

As of

June 30, 2023

March 31, 2023

June 30, 2022

Assets:

Loans

$

3,929,695

$

3,777,359

$

3,558,443

Loan loss reserve

(48,018)

(46,683)

(42,344)

Net loans

3,881,677

3,730,676

3,516,099

Loans held for sale

238

182

936

Securities AFS

1,201,253

1,241,080

1,402,127

Equity securities at fair value

2,545

2,380

2,128

Other equity investments

11,432

9,713

13,026

Other earning assets

62,726

177,209

140,384

Cash and due from banks

48,915

60,762

75,373

Premises and equipment

42,911

42,636

40,704

Right of use asset

16,678

17,037

12,005

Goodwill and core deposit intangible

65,490

65,490

65,490

Other assets

186,933

182,155

179,078

Total Assets

$

5,520,798

$

5,529,320

$

5,447,350

Liabilities and Equity:

Interest bearing checking

$

142,542

$

120,678

$

99,055

Savings deposits

2,000,853

2,050,546

1,915,166

CD's >=$100,000

538,492

501,557

573,519

Other time deposits

473,695

460,804

477,040

Total interest bearing deposits

3,155,582

3,133,585

3,064,780

Noninterest bearing deposits

1,361,078

1,409,839

1,408,148

Total deposits

4,516,660

4,543,424

4,472,928

Repurchase agreements

229,020

208,777

238,733

Other interest bearing liabilities

65,195

65,254

58,706

Lease liability

17,317

17,619

12,479

Other noninterest bearing liabilities

32,481

37,425

32,454

Total liabilities

4,860,673

4,872,499

4,815,300

Shareholders' equity

660,125

656,821

632,050

Total Liabilities and Equity

$

5,520,798

$

5,529,320

$

5,447,350

Ending shares outstanding

17,984

17,976

17,895

30 - 89 days past due loans

$

12,158

$

11,728

$

10,595

90 days past due loans

6,399

6,218

5,018

Nonaccrual loans

5,345

5,993

8,824

Foreclosed properties

2,047

2,776

1,954

Community bank leverage ratio

13.82%

13.71%

13.14%

Tangible equity to tangible assets ratio

10.90%

10.82%

10.53%

FTE employees

975

945

958

View source version on businesswire.com: https://www.businesswire.com/news/home/20230719117172/en/

Contacts

Mark A. Gooch
Vice Chairman, President, and CEO
Community Trust Bancorp, Inc.
(606) 437-3229

Advertisement

Recommended Stories