COMMUNITY TRUST BANCORP INC /KY/ CTBI Income Statement

Community trust bancorp inc /ky/ (CTBI)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income:
Interest and fees on loans, including loans held for sale
40,465	40,982	41,781	41,318	40,910	40,764	39,420	37,791	36,577	36,854	36,288	34,880	33,475	33,793	33,593	33,255	33,324	33,138	32,847	32,669	32,175	32,716	32,191	31,937	31,613	32,915	33,290	32,672	32,848	34,025	34,298	34,278	35,052	35,587	36,180	36,182	36,686	35,402	35,165
Interest and dividends on securities
Taxable
3,046	3,178	3,086	3,089	3,163	2,701	2,422	2,422	2,470	2,257	2,198	2,230	2,030	2,077	2,030	2,065	2,093	2,146	2,044	2,408	2,555	2,698	2,763	2,806	3,047	3,205	3,196	3,129	2,895	3,007	3,148	3,083	2,771	2,502	2,598	2,751	2,282	2,308	2,394
Tax exempt
527	544	552	580	678	694	699	706	697	800	741	721	749	715	653	658	692	673	679	682	671	664	664	664	584	573	561	557	558	550	534	513	477	449	455	412	396	388	394
Amount of interest income and dividend income on Federal Reserve Bank and Federal Home Loan Bank stock.
140	183	207	261	296	301	341	328	333	322	308	283	276	254	251	252	254	254	252	250	254	254	252	298	332	332	345	342	348	379	345	345	364	332	329	357	356	65	343
Amount of interest income from interest-bearing funds deposited into Federal Reserve Bank.
496	793	1,330	1,525	786	714	659	713	439	-	240	239	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, including interest on federal funds sold
25	25	31	44	56	64	66	65	64	-149	69	58	238	-379	152	144	164	89	90	74	70	74	87	106	117	88	63	83	127	130	125	136	162	181	146	139	140	152	148
Total interest income
44,699	45,705	46,987	46,817	45,889	45,238	43,607	42,025	40,580	40,673	39,844	38,411	36,768	36,996	36,679	36,374	36,527	36,300	35,912	36,083	35,725	36,406	35,957	35,811	35,693	37,113	37,455	36,783	36,776	38,091	38,450	38,355	38,826	39,051	39,708	39,841	39,860	38,315	38,444
Interest expense:
Interest on deposits
6,942	7,691	8,649	8,956	8,075	7,206	6,051	5,585	4,872	4,474	3,754	3,181	2,941	2,874	2,799	2,677	2,571	2,539	2,412	2,359	2,306	2,389	2,475	2,472	2,462	2,614	2,778	2,902	3,019	3,733	4,777	4,930	4,471	4,748	5,193	5,511	5,830	7,454	7,637
Interest on repurchase agreements and federal funds purchased
1,004	1,115	1,169	1,191	1,156	1,136	818	723	635	617	466	411	338	319	288	284	264	249	231	242	216	227	205	217	192	211	232	234	263	287	294	321	338	374	397	426	428	466	512
Interest on advances from Federal Home Loan Bank
0	0	0	0	39	20	3	2	2	33	226	165	3	11	3	4	44	16	9	10	14	10	6	5	6	6	7	6	7	7	8	8	11	22	23	26	28	18	17
Interest on long-term debt
509	543	650	643	636	596	599	567	480	447	428	414	396	381	362	350	324	301	295	290	284	281	283	284	283	284	288	299	290	301	325	777	1,000	999	1,000	1,000	1,000	1,000	1,000
Total interest expense
8,455	9,349	10,468	10,790	9,906	8,958	7,471	6,877	5,989	5,571	4,874	4,171	3,678	3,585	3,452	3,315	3,203	3,105	2,947	2,901	2,820	2,907	2,969	2,978	2,943	3,115	3,305	3,441	3,579	4,328	5,404	6,036	5,820	6,143	6,613	6,963	7,286	8,938	9,166
Net interest income
36,244	36,356	36,519	36,027	35,983	36,280	36,136	35,148	34,591	35,102	34,970	34,240	33,090	33,411	33,227	33,059	33,324	33,195	32,965	33,182	32,905	33,499	32,988	32,833	32,750	33,998	34,150	33,342	33,197	33,763	33,046	32,319	33,006	32,908	33,095	32,878	32,574	29,377	29,278
Provision for credit losses
12,707	1,813	1,253	1,563	190	1,749	1,543	1,929	946	2,862	666	2,764	1,229	2,043	2,191	1,873	1,765	1,910	2,520	2,319	1,901	3,375	3,300	735	1,345	1,219	2,129	3,661	1,559	2,946	2,919	2,425	1,160	3,040	2,515	3,320	4,387	3,676	3,106
Net interest income after provision for credit losses
23,537	34,543	35,266	34,464	35,793	34,531	34,593	33,219	33,645	32,240	34,304	31,476	31,861	31,368	31,036	31,186	31,559	31,285	30,445	30,863	31,004	30,124	29,688	32,098	31,405	32,779	32,021	29,681	31,638	30,817	30,127	29,894	31,846	29,868	30,580	29,558	28,187	25,701	26,172
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.
5,916	6,855	6,859	6,525	6,120	6,602	6,671	6,480	6,221	6,463	6,499	6,199	5,960	6,286	6,563	6,272	5,845	6,306	6,348	6,046	5,582	6,153	6,321	5,987	5,431	6,352	6,349	6,182	5,767	6,131	6,038	5,955	5,872	6,577	6,681	6,438	5,880	5,920	5,949
Gains on sales of loans, net
483	582	450	518	330	386	319	304	279	423	390	251	256	474	595	446	316	403	462	823	290	687	303	288	190	293	653	755	1,397	580	660	705	617	583	438	347	381	575	337
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.
2,884	2,739	2,725	2,765	2,575	2,663	2,836	2,856	2,958	2,684	2,534	2,649	2,586	2,474	2,440	2,396	2,275	2,384	2,297	2,366	2,239	2,308	2,395	2,199	2,109	2,171	2,005	2,023	2,000	1,749	1,734	1,822	1,613	1,564	1,597	1,577	1,616	1,492	1,458
The non-interest income earned from loan related fees.
95	1,107	622	440	573	644	1,022	919	1,144	1,108	792	773	1,005	1,497	1,260	739	611	1,074	641	1,242	864	958	1,128	766	679	1,165	1,088	1,496	948	1,514	631	610	1,287	763	250	476	883	862	46
Bank owned life insurance
573	560	590	689	558	560	555	793	1,764	539	583	526	524	571	560	538	530	535	581	521	521	523	523	476	474	482	517	1,327	421	440	462	430	428	452	433	426	410	451	407
Brokerage revenue
372	389	418	299	261	300	331	440	283	292	297	423	312	247	387	317	363	368	395	367	296	745	505	634	570	601	576	618	450	-	-	-	-	-	-	-	-	-	-
Securities gains
249	209	14	204	356	203	-2	2	-288	15	48	18	-8	0	458	-4	68	-248	12	-14	144	-66	-34	-51	-60	-14	-23	-8	0	-	0	819	-	-	0	0	-	-	-
Other noninterest income
949	932	711	812	1,397	881	931	1,946	949	892	1,059	1,472	944	966	923	1,065	963	988	1,299	877	800	730	865	673	672	989	906	881	937	-1,016	1,313	1,648	1,370	-1,265	1,543	1,329	1,568	1,297	1,345
Total noninterest income
11,521	13,373	12,389	12,252	12,170	12,239	12,663	13,740	13,310	12,416	12,202	12,311	11,579	12,515	13,186	11,769	10,971	11,810	12,035	12,228	10,736	12,038	12,006	10,972	10,065	12,039	12,071	13,274	11,920	11,943	10,838	11,989	11,187	11,559	10,942	10,593	10,738	10,597	9,542
Noninterest expense:
Officer salaries and employee benefits
2,751	3,131	2,812	3,297	3,374	2,997	3,475	3,220	3,214	2,963	2,933	2,663	3,264	3,051	3,090	2,964	3,093	2,473	3,288	2,919	2,972	2,870	2,584	2,784	2,838	2,541	2,705	2,635	2,551	2,833	3,048	2,324	2,356	1,782	2,087	2,337	2,173	2,193	1,945
Other salaries and employee benefits
12,280	12,830	12,208	12,790	12,585	12,260	11,789	12,202	12,405	12,819	11,146	11,381	11,660	11,353	11,126	11,358	11,040	10,848	10,687	10,703	10,673	11,467	10,881	10,490	10,579	10,858	10,543	10,579	10,431	10,555	10,237	10,078	10,457	9,972	10,153	10,380	9,911	9,367	9,687
Occupancy, net
1,985	1,951	2,031	1,812	2,051	1,989	2,019	2,043	2,116	2,030	2,043	1,972	2,027	1,964	2,012	1,966	2,057	1,889	1,942	1,908	2,087	1,909	2,007	1,937	2,164	1,960	1,945	1,972	1,927	1,865	1,969	1,859	1,853	1,886	2,013	1,933	2,097	1,725	1,742
Equipment
721	736	776	749	739	709	725	727	717	774	741	748	786	773	733	729	715	754	746	772	777	745	831	938	900	979	920	988	978	1,006	957	995	918	969	1,008	905	868	950	959
Data processing
1,978	1,878	1,987	1,789	1,763	1,715	1,695	1,634	1,636	1,782	1,772	1,757	1,789	1,768	1,601	1,559	1,569	1,539	1,577	1,695	1,932	2,002	2,017	1,933	1,925	1,870	1,850	1,775	1,813	1,623	1,644	1,548	1,579	1,503	1,550	1,650	1,792	1,759	1,697
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).
1,812	1,717	1,656	1,683	1,715	1,661	1,618	1,577	1,701	1,232	1,205	1,521	1,520	1,380	1,492	1,400	1,399	1,358	1,272	1,276	1,268	1,232	1,208	1,208	1,209	1,123	1,124	1,123	1,123	1,159	1,130	1,127	1,155	887	1,120	1,119	1,164	1,002	977
Legal fees
477	559	555	424	430	362	373	428	474	412	429	385	442	469	455	502	480	632	505	526	573	532	558	656	698	645	585	556	606	535	522	496	601	513	631	570	930	700	688
Professional fees
569	534	577	546	531	589	507	495	502	466	478	551	496	495	473	483	439	387	524	548	425	501	491	425	415	485	491	432	382	489	411	385	260	286	285	279	406	315	326
Advertising and marketing
634	723	894	874	792	643	744	876	732	623	705	708	685	731	674	580	629	568	649	645	566	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FDIC insurance
147	0	-280	369	177	264	314	279	314	316	316	315	292	161	469	576	583	584	606	586	606	618	575	558	649	579	624	637	602	640	643	613	657	638	591	839	1,124	1,118	1,140
Other real estate owned provision and expense
-869	-1,219	-2,476	-1,024	-771	-976	-1,094	-1,315	-939	-444	-1,313	-1,827	-916	-987	-873	-468	-551	-1,008	-1,289	-752	-484	-949	-707	-736	-1,505	-1,240	-905	-1,170	-1,839	-2,596	-1,123	-758	-790	-4,107	-1,465	-2,186	-846	-584	-606
Repossession expense
135	219	334	112	377	290	246	304	409	214	269	227	201	245	272	424	215	318	347	256	344	645	322	222	319	340	284	487	411	-	-	-	-	-	-	-	-	-	-
Amortization expenses related to the investments in low income housing and other community related limited partnerships.
888	734	745	1,166	777	702	609	716	500	605	605	604	605	545	546	997	535	578	1,031	718	253	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other noninterest expense
2,975	3,032	3,111	3,395	3,001	3,015	2,898	6,623	3,022	3,056	2,977	2,907	2,961	3,083	2,871	3,186	2,937	2,842	3,071	3,009	2,858	1,269	3,682	3,369	3,660	9,025	3,615	3,633	3,636	2,835	4,129	3,965	5,124	591	4,924	4,948	5,236	4,285	3,888
Total noninterest expense
28,221	29,263	29,882	30,030	29,083	28,172	28,106	32,439	28,681	27,736	26,932	27,566	27,644	27,005	26,687	27,192	26,242	25,778	27,534	26,313	25,818	28,019	25,863	25,256	26,861	32,374	25,591	25,987	26,299	27,843	25,813	24,148	25,750	26,867	25,827	27,146	26,547	23,998	23,655
Income before income taxes
6,837	18,653	17,773	16,686	18,880	18,598	19,150	14,520	18,274	16,920	19,574	16,221	15,796	16,878	17,535	15,763	16,288	17,317	14,946	16,778	15,922	14,143	15,831	17,814	14,609	12,444	18,501	16,968	17,259	14,917	15,152	17,735	17,283	14,560	15,695	13,005	12,378	12,300	12,059
Income taxes
258	2,645	2,504	-1,638	3,941	2,889	3,044	2,921	2,460	2,008	5,811	4,680	4,519	5,012	5,223	4,197	4,686	5,447	3,724	4,376	4,984	4,151	4,907	5,619	4,469	3,687	5,848	5,026	5,439	4,365	4,943	5,503	5,414	4,672	5,030	4,035	3,074	3,850	3,506
Net income
6,579	16,008	15,269	18,324	14,939	15,709	16,106	11,599	15,814	14,912	13,763	11,541	11,277	11,866	12,312	11,566	11,602	11,870	11,222	12,402	10,938	9,992	10,924	12,195	10,140	8,757	12,653	11,942	11,820	10,552	10,209	12,232	11,869	9,888	10,665	8,970	9,304	8,450	8,553
Other comprehensive income:
Unrealized holding gains on securities available-for-sale:
Unrealized holding gains arising during the period
2,147	-914	2,538	6,522	6,124	4,437	-2,521	-1,811	-5,498	-3,043	-522	1,630	1,115	-10,328	-2,374	2,321	5,803	-3,867	3,463	-5,385	5,447	3,286	-2,009	6,571	6,080	-6,974	-981	-21,337	-2,586	-2,532	3,337	6,370	-2,202	-	4,093	4,582	-	-	-
Less: Reclassification adjustments for realized gains included in net income
481	-1	-2	5	1	-970	-2	2	149	15	48	18	-8	0	458	-4	68	-248	12	-14	144	-356	34	51	60	-76	23	8	0	-	0	-819	-	-	0	0	-	-	-
Tax expense
433	-237	664	1,690	1,286	1,136	-529	-381	-1,186	-1,070	-199	564	393	-3,615	-991	814	2,007	-1,267	1,208	-1,880	1,856	1,173	-691	2,318	2,149	-2,436	-336	-7,465	-905	-1,004	1,168	1,943	-771	-17	1,432	1,604	359	-	-
Unrealized holding gains (losses) on securities available-for-sale, net of tax
-	-	-	-	-	-	-	-	-	-	-371	1,048	730	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,027	2,225	964
Implementation of ASU 2016-01
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other comprehensive income, net of tax
1,233	-676	1,876	4,827	4,837	4,271	-1,990	-1,432	-4,461	-1,988	-371	1,048	730	-6,713	-1,841	1,511	3,728	-2,352	2,243	-3,491	3,447	2,179	-1,284	4,304	3,991	-4,524	-622	-13,864	-1,681	-1,864	2,169	3,608	-1,431	-35	2,661	2,978	668	-	-
Comprehensive income
7,812	15,332	17,145	23,151	19,776	19,980	14,116	10,167	11,353	12,924	13,392	12,589	12,007	5,153	10,471	13,077	15,330	9,518	13,465	8,911	14,385	12,171	9,640	16,499	14,131	4,233	12,031	-1,922	10,139	8,688	12,378	15,840	10,438	9,853	13,326	11,948	9,972	10,675	9,517
Basic earnings per share (in dollars per share)
0.37	0.91	0.86	1.03	0.84	0.89	0.91	0.66	0.89	0.85	0.78	0.65	0.64	0.68	0.70	0.66	0.66	0.68	0.64	0.71	0.63	0.58	0.63	0.70	0.59	0.43	0.74	0.70	0.76	0.42	0.66	0.79	0.77	0.64	0.70	0.59	0.61	0.55	0.56
Diluted earnings per share (in dollars per share)
0.37	0.91	0.86	1.03	0.84	0.89	0.91	0.66	0.89	0.85	0.78	0.65	0.64	0.68	0.70	0.66	0.66	0.68	0.64	0.71	0.63	0.58	0.63	0.70	0.58	0.44	0.73	0.69	0.76	0.41	0.66	0.79	0.77	0.64	0.70	0.58	0.61	0.55	0.56
Weighted average shares outstanding-basic (in shares)
17,752	17,737	17,726	17,721	17,712	17,699	17,691	17,687	17,671	17,650	17,633	17,626	17,615	17,595	17,554	17,530	17,513	17,463	17,440	17,421	17,400	17,352	17,326	17,318	17,308	18,818	17,154	17,121	15,539	21,703	15,491	15,451	15,407	45,903	15,318	15	15	15	15
Weighted average shares outstanding-diluted (in shares)
17,763	17,761	17,743	17,733	17,723	17,712	17,710	17,703	17,687	17,676	17,653	17,645	17,638	17,620	17,569	17,542	17,533	17,525	17,491	17,465	17,451	17,390	17,402	17,393	17,403	18,906	17,257	17,205	15,592	21,780	15,555	15,501	15,456	46,086	15,339	15	15	15	15
Cash dividends declared (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.33	0.32	0.32	0.32	0.32	0.31	0.31	0.31	0.31	0.30	0.30	0.30	0.30	0.29	0.29	0.26	0.29	0.28	0.31	0.20	0.31	0.31	0.31	0.31	0.31	0.30	0.30	0.30	0.30