Community Trust Bancorp Q2 2024 10-Q Filing
Ticker: CTBI · Form: 10-Q · Filed: Aug 8, 2024 · CIK: 350852
Sentiment: neutral
Topics: 10-Q, financials, banking
TL;DR
**CTBI Q2 2024 10-Q filed. Financials look steady.**
AI Summary
Community Trust Bancorp, Inc. (CTBI) filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial metrics and disclosures relevant to investors and stakeholders are presented.
Why It Matters
This filing provides crucial insights into Community Trust Bancorp's financial health and operational performance during the second quarter of 2024, impacting investor decisions and market perception.
Risk Assessment
Risk Level: medium — As a financial institution, Community Trust Bancorp is subject to various market, credit, and regulatory risks inherent in the banking sector.
Key Numbers
- 20240630 — Period End Date (Indicates the end of the reporting quarter.)
- 20240808 — Filing Date (Shows when the 10-Q was submitted to the SEC.)
- 2023-06-30 — Prior Year Quarter End (For comparative analysis with the current year's performance.)
Key Players & Entities
- COMMUNITY TRUST BANCORP INC /KY/ (company) — Filer
- 0000350852 (company) — Central Index Key
- 20240630 (date) — Period of Report
- 20240808 (date) — Filed as of Date
- 606-433-4643 (dollar_amount) — Business Phone
FAQ
What is the primary business of Community Trust Bancorp, Inc.?
Community Trust Bancorp, Inc. is primarily engaged in the business of commercial banking, as indicated by its Standard Industrial Classification code [6022] for State Commercial Banks.
What period does this 10-Q filing cover?
This 10-Q filing covers the period of report ending on June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 8, 2024.
What is the company's state of incorporation?
The company's state of incorporation is Kentucky (KY).
What is the company's fiscal year end?
The company's fiscal year ends on December 31 (1231).
Filing Stats: 4,445 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-08-08 08:45:29
Filing Documents
- ef20029701_10q.htm (10-Q) — 6423KB
- ef20029701_ex31-1.htm (EX-31.1) — 12KB
- ef20029701_ex31-2.htm (EX-31.2) — 12KB
- ef20029701_ex32-1.htm (EX-32.1) — 4KB
- ef20029701_ex32-2.htm (EX-32.2) — 4KB
- 0001140361-24-036298.txt ( ) — 27713KB
- ctbi-20240630.xsd (EX-101.SCH) — 64KB
- ctbi-20240630_cal.xml (EX-101.CAL) — 111KB
- ctbi-20240630_def.xml (EX-101.DEF) — 459KB
- ctbi-20240630_lab.xml (EX-101.LAB) — 1009KB
- ctbi-20240630_pre.xml (EX-101.PRE) — 653KB
- ef20029701_10q_htm.xml (XML) — 8790KB
- 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) June 30 2024 December 31 2023 Assets: Cash and due from banks $ 54,935 $ 58,833 Interest bearing deposits 106,726 212,567 Cash and cash equivalents 161,661 271,400 Certificates of deposit in other banks 245 245 Debt securities available-for-sale at fair value (amortized cost of $ 1,232,879 and $ 1,301,244 , respectively) 1,090,322 1,163,724 Equity securities at fair value 3,054 3,158 Loans held for sale 350 152 Loans 4,261,247 4,050,906 Allowance for credit losses ( 52,148 ) ( 49,543 ) Net loans 4,209,099 4,001,363 Premises and equipment, net 47,178 45,311 Operating right-of-use assets 12,084 12,607 Finance right-of-use assets 3,037 3,096 Federal Home Loan Bank stock 9,135 4,712 Federal Reserve Bank stock 4,887 4,887 Goodwill 65,490 65,490 Bank owned life insurance 100,839 101,461 Mortgage servicing rights 7,749 7,665 Other real estate owned 1,626 1,616 Deferred tax asset 29,990 28,141 Accrued