Community Trust Bancorp Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Community Trust Bancorp Inc. (CTBI) has filed its Q1 2024 10-Q report, detailing financial positions and equity changes.</b>

AI Summary

COMMUNITY TRUST BANCORP INC /KY/ (CTBI) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Community Trust Bancorp Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31. The filing includes data related to various equity accounts such as Additional Paid-In Capital, Common Stock, Retained Earnings, and Accumulated Other Comprehensive Income for 2023 and 2024. Specific dates related to SOFR (Secured Overnight Financing Rate) and accounting standard updates are mentioned, including January 27, 2023.

Why It Matters

For investors and stakeholders tracking COMMUNITY TRUST BANCORP INC /KY/, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and position of Community Trust Bancorp Inc., crucial for assessing the company's health and investment potential. The inclusion of detailed equity account information and specific dates related to financial instruments and accounting standards offers transparency into the company's financial structure and regulatory compliance.

Risk Assessment

Risk Level: low — COMMUNITY TRUST BANCORP INC /KY/ shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine financial disclosure.

Analyst Insight

Monitor future filings for trends in equity accounts and any impact from the mentioned accounting standards.

Key Numbers

• 2024-03-31 — Period of Report (Conformed period of report)
• 2024-05-09 — Filing Date (Filed as of date)
• 6022 — SIC Code (Standard Industrial Classification)
• 1231 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• COMMUNITY TRUST BANCORP INC /KY/ (company) — Filer name
• CTBI (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-09 (date) — Filing date
• 6022 (industry_code) — Standard Industrial Classification
• KY (location) — State of incorporation
• 1231 (date) — Fiscal year end
• 0000350852 (identifier) — Central Index Key

FAQ

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a comprehensive overview of a company's financial performance during the quarter.)

SOFR

Secured Overnight Financing Rate, a benchmark interest rate. (Relevant for understanding the company's exposure to interest rate changes and financial instrument pricing.)

Additional Paid-In Capital

Amount paid by investors for stock above its par value. (Indicates capital raised from equity issuance beyond the nominal stock value.)

Retained Earnings

Accumulated profits of a company that have not been distributed to shareholders. (Reflects the company's historical profitability and reinvestment strategy.)

Filing Documents

• ef20026286_10q.htm (10-Q) — 5408KB
• ef20026286_ex31-1.htm (EX-31.1) — 13KB
• ef20026286_ex31-2.htm (EX-31.2) — 12KB
• ef20026286_ex32-1.htm (EX-32.1) — 4KB
• ef20026286_ex32-2.htm (EX-32.2) — 4KB
• 0001140361-24-025063.txt (&nbsp;) — 25345KB
• ctbi-20240331.xsd (EX-101.SCH) — 65KB
• ctbi-20240331_cal.xml (EX-101.CAL) — 110KB
• ctbi-20240331_def.xml (EX-101.DEF) — 462KB
• ctbi-20240331_lab.xml (EX-101.LAB) — 1017KB
• ctbi-20240331_pre.xml (EX-101.PRE) — 658KB
• ef20026286_10q_htm.xml (XML) — 7896KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements The accompanying information has not been audited by our independent registered public accountants; however, in the opinion of management such information reflects all adjustments necessary for a fair presentation of the results for the interim period. All such adjustments are of a normal and recurring nature. The accompanying condensed consolidated financial statements are presented in accordance with the requirements of Form 10-Q and consequently do not include all of the disclosures normally required by accounting principles generally accepted in the United States of America or those normally made in the Registrant's annual report on Form 10-K. Accordingly, the reader of the Form 10-Q should refer to the Registrant's Form 10-K for the year ended December 31, 2023 for further information in this regard. 1 Community Trust Bancorp, Inc. Condensed Consolidated Balance Sheets (dollars in thousands) (unaudited) March 31 2024 December 31 2023 Assets: Cash and due from banks $ 55,841 $ 58,833 Interest bearing deposits 237,457 212,567 Cash and cash equivalents 293,298 271,400 Certificates of deposit in other banks 245 245 Debt securities available-for-sale at fair value (amortized cost of $ 1,253,750 and $ 1,301,244 , respectively) 1,111,505 1,163,724 Equity securities at fair value 3,529 3,158 Loans held for sale 57 152 Loans 4,161,175 4,050,906 Allowance for credit losses ( 50,571 ) ( 49,543 ) Net loans 4,110,604 4,001,363 Premises and equipment, net 46,595 45,311 Operating right-of-use assets 12,433 12,607 Finance right-of-use assets 3,067 3,096 Federal Home Loan Bank stock 4,440 4,712 Federal Reserve Bank stock 4,887 4,887 Goodwill 65,490 65,490 Bank owned life insurance 101,178 101,461 Mortgage servicing rights 7,792 7,665 Other real estate owned 1,266 1,616 Deferred tax asset 29,917 28,141 Accrued

View Full Filing

View this 10-Q filing on SEC EDGAR