COMMUNITY TRUST BANCORP INC /KY/ CTBI Income Statement

Community trust bancorp inc /ky/ (CTBI)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest income:
Interest and fees on loans, including loans held for sale
164,991	154,552	141,497	133,965	130,829	128,457	131,725	137,653	144,635	142,109	139,736
Interest and dividends on securities
Taxable
12,516	10,015	8,715	8,265	9,153	11,314	12,425	12,009	10,133	8,934	9,569
Tax exempt
2,354	2,796	3,011	2,718	2,705	2,576	2,249	2,074	1,712	1,601	1,845
Amount of interest income and dividend income on Federal Reserve Bank and Federal Home Loan Bank stock.
947	1,303	1,189	1,011	1,010	1,136	1,367	1,433	1,374	1,351	498
Amount of interest income from interest-bearing funds deposited into Federal Reserve Bank.
4,434	2,525	1,068	536	-	-	-	-	-	-	-
Interest and dividends on Federal Reserve Bank and Federal Home Loan Bank stock
-	-	-	-	-	-	-	-	-	-	1,402
Other, including interest on federal funds sold
156	259	216	81	323	384	361	553	606	516	-
Total interest income
185,398	171,450	155,696	146,576	144,020	143,867	148,127	153,722	158,460	154,511	153,050
Interest expense:
Interest on deposits
33,371	23,714	14,350	10,921	9,616	9,798	11,313	17,911	21,282	29,152	39,793
Interest on repurchase agreements and federal funds purchased
4,631	3,312	1,832	1,155	938	841	940	1,240	1,625	2,027	2,457
Interest on advances from Federal Home Loan Bank
39	27	427	62	49	27	26	34	99	79	1,291
Interest on long-term debt
2,472	2,242	1,685	1,417	1,170	1,131	1,161	2,403	3,999	3,999	3,999
Total interest expense
40,513	29,295	18,294	13,555	11,773	11,797	13,440	21,588	27,005	35,257	47,540
Net interest income
144,885	142,155	137,402	133,021	132,247	132,070	134,687	132,134	131,455	119,254	105,510
Provision for credit losses
4,819	6,167	7,521	7,872	8,650	8,755	8,568	9,450	13,262	16,484	17,468
Net interest income after provision for credit losses
140,066	135,988	129,881	125,149	123,597	123,315	126,119	122,684	118,193	102,770	88,042
Noninterest income:
The non-interest income earned through general service fees for monthly account maintenance and activity- or transaction-based fees, consisting of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue.
26,359	25,974	25,121	24,966	24,282	23,892	24,650	23,996	25,576	23,255	21,970
Gains on sales of loans, net
1,880	1,288	1,320	1,831	1,978	1,468	3,098	2,562	1,749	1,642	4,324
The non-interest income earned from monthly or quarterly fees due from wealth management customers as consideration for managing the customers' assets, including custody of assets, investment management, escrow services, fees for trust services, and similar fiduciary activities.
10,804	11,313	10,453	9,585	9,286	9,011	8,199	6,918	6,354	5,846	5,047
The non-interest income earned from loan related fees.
2,742	3,729	3,678	4,107	3,821	3,531	4,697	4,042	2,372	3,247	3,817
Bank owned life insurance
2,397	3,672	2,172	2,199	2,158	1,996	2,747	1,760	1,721	1,676	1,241
Brokerage revenue
1,367	1,354	1,324	1,314	1,426	2,454	2,245	2,209	2,667	-	-
Securities gains
783	-85	73	522	-106	-211	-45	1,155	218	0	654
Other noninterest income
3,852	4,707	4,367	3,917	3,964	2,940	3,713	3,315	3,175	5,260	4,367
Total noninterest income
50,184	51,952	48,508	48,441	46,809	45,081	49,304	45,957	43,832	40,926	41,420
Noninterest expense:
Officer salaries and employee benefits
12,614	12,906	11,823	12,198	11,652	11,076	10,432	10,561	8,379	8,244	8,169
Other salaries and employee benefits
50,413	48,656	47,006	44,877	42,911	43,417	42,411	41,327	40,416	39,020	35,392
Occupancy, net
7,845	8,167	8,072	7,999	7,826	8,017	7,804	7,546	7,929	7,058	6,836
Equipment
3,000	2,878	3,049	2,950	3,049	3,414	3,865	3,876	3,750	3,865	4,679
Data processing
7,417	6,680	7,100	6,497	6,743	7,877	7,308	6,394	6,495	6,889	6,064
Tax assessed on banks in Kentucky in lieu of an income tax and is based on the equity of the bank (as defined by regulation).
6,771	6,557	5,478	5,671	5,174	4,857	4,493	4,571	4,290	4,065	3,684
Legal fees
1,968	1,637	1,668	1,906	2,236	2,444	2,392	2,154	2,644	2,727	2,395
Professional fees
2,188	2,093	1,991	1,890	1,884	1,832	1,790	1,545	1,256	1,199	1,350
Advertising and marketing
3,283	2,995	2,721	2,614	2,428	2,421	-	-	-	-	-
FDIC insurance
266	1,171	1,239	1,789	2,382	2,400	2,442	2,553	3,192	4,410	5,795
Other real estate owned provision and expense
-5,490	-4,324	-4,500	-2,879	-3,533	-3,897	-5,154	-5,267	-8,604	-2,626	-3,281
Repossession expense
1,042	1,249	911	1,156	1,265	1,508	1,522	1,707	3,733	-	-
Amortization expenses related to the investments in low income housing and other community related limited partnerships.
3,422	2,527	2,419	2,623	2,580	859	729	-	-	-	-
Other noninterest expense
12,539	15,558	11,901	12,077	11,780	11,980	19,909	16,053	15,699	15,947	16,156
Total noninterest expense
118,258	117,398	109,878	107,126	105,443	105,999	110,251	103,554	106,387	96,050	93,801
Income before income taxes
71,992	70,542	68,511	66,464	64,963	62,397	65,172	65,087	55,638	47,646	35,661
Income taxes
7,452	11,314	17,018	19,118	18,531	19,146	20,000	20,225	16,811	14,612	10,602
Net income
64,540	59,228	51,493	47,346	46,432	43,251	45,172	44,862	38,827	33,034	25,059
Other comprehensive income:
Unrealized holding gains on securities available-for-sale:
Unrealized holding gains arising during the period
14,270	-5,393	-820	-4,578	-342	13,928	-31,878	4,973	9,868	-464	-
Less: Reclassification adjustments for realized gains included in net income
3	-821	73	522	-106	-211	-45	1,155	-218	0	-
Tax expense
3,403	-960	-312	-1,785	-83	4,949	-11,142	1,336	3,378	-162	-
Unrealized holding gains (losses) on securities available-for-sale, net of tax
-	-	-	-	-153	-	-	-	-	-	-
Implementation of ASU 2018-02
-	-	-	-	0	-	-	-	-	-	-
Other comprehensive income, net of tax
10,864	-3,612	-581	-3,315	-153	9,190	-20,691	2,482	6,272	-302	-
Comprehensive income
75,404	55,616	50,912	44,031	46,279	52,441	24,481	47,344	45,099	32,732	-
Basic earnings per share (in dollars per share)
3.64	3.35	2.92	2.70	2.66	2.50	2.63	2.64	2.54	2.17	1.66
Diluted earnings per share (in dollars per share)
3.64	3.35	2.92	2.70	2.66	2.49	2.62	2.63	2.53	2.16	1.65
Weighted average shares outstanding-basic (in shares)
17,724	17,687	17,631	17,548	17,431	17,326	17,158	17,013	15,313	15,233	-
Weighted average shares outstanding-diluted (in shares)
17,740	17,703	17,653	17,566	17,483	17,397	17,240	17,073	15,364	15,258	-
Cash dividends declared (in dollars per share)
-	-	-	1.26	1.22	1.18	1.15	1.13	1.23	1.21	-