Community Trust Bancorp, Inc. CTBI reported 6.03 percent increase in net income to $11.6 million in the first quarter from $10.94 million in the preceding year period. Its earnings also grew 4.8 percent to $0.66 per share from $0.63 per share in the year-ago quarter. This was $0.03 higher than the Street expectations of $0.63 a share.
Community Trust Bancorp said its net interest income grew 1.3 percent to $33.3 million while non-interest income grew 2.2% to $11.0 million in the first quarter. Street estimated the company to generate revenue of $44.49 million.
The company stated that its non-performing loans fell to $27.0 million while deposits grew to $109.2 million. Similarly, its loan portfolio grew $142.8 million whereas investment portfolio witnessed a fall of $45.4 million.
Following the news, the stock traded up by 0.78 percent.
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