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Financial Performance - Community Trust Bancorp, Inc. reported Q3 2025 earnings of $23.9 million, or $1.33 per basic share, compared to $24.9 million, or $1.38 per basic share in Q2 2025, and $22.1 million, or $1.23 per basic share in Q3 2024 [186]. - Net interest income for Q3 2025 was $55.6 million, an increase of $1.5 million, or 2.8%, from the prior quarter, and $8.4 million, or 17.7%, from the same quarter last year [189]. - Noninterest income for Q3 2025 was $15.9 million, which was $0.2 million, or 1.4%, below the prior quarter but $0.4 million, or 2.5%, above the same quarter last year [189]. - Noninterest expense for Q3 2025 was $36.7 million, an increase of $1.1 million, or 3.0%, from the prior quarter, and $4.2 million, or 13.0%, from the same quarter last year [189]. - Total shareholders' equity increased by $24.5 million, or an annualized 12.0%, during the quarter, and by $73.8 million, or 9.7%, from the prior year end [189]. Asset and Deposit Growth - Total consolidated assets as of September 30, 2025, were $6.6 billion, with total consolidated deposits of $5.7 billion, and shareholders' equity of $831.4 million [184]. - The loan portfolio increased to $4.8 billion, reflecting a quarterly increase of $92.1 million, or an annualized 7.8%, and a year-over-year increase of $307.3 million, or 6.8% [189]. - Deposits, including repurchase agreements, increased by $212.2 million, or an annualized 15.4%, during the quarter, and by $360.0 million, or 6.8%, from the prior year end [189]. - Total assets increased to $6.6 billion, up $247.2 million (15.3% annualized) during the quarter and $444.9 million (9.6%) from the prior year end [205]. - Total deposits, including repurchase agreements, increased to $5.7 billion, up $212.2 million (15.4% annualized) during the quarter and $360.0 million (9.1%) from the prior year end [206]. Credit Quality and Loss Provisions - The provision for credit losses increased to $3.9 million for Q3 2025, up $1.8 million from the prior quarter and $1.1 million from the same quarter last year [189]. - Provision for credit losses for the nine months ended September 30, 2025, was $9,500 thousand, which is a $1,200 thousand increase over the same period in 2024 [201]. - The reserve coverage ratio (allowance for credit losses to nonperforming loans) was 239.5% as of September 30, 2025, compared to 212.7% a year earlier [201]. - Total nonperforming loans increased to $24.7 million, up $0.3 million from the prior quarter but down $2.0 million from the prior year end [213]. - Net loan charge-offs for the quarter were $2.7 million, an annualized 0.23% of average loans, compared to $1.4 million (0.12%) in the prior quarter and $1.5 million (0.14%) in the same period last year [214]. Interest Income and Margin - The net interest margin for Q3 2025 was 3.60%, reflecting a decrease of 4 basis points from the prior quarter but an increase of 21 basis points from the same quarter last year [189]. - Total interest income for the nine months ended September 30, 2025, was $24,714 thousand, with a significant contribution from loans, which increased by $23,511 thousand [199]. - The net interest margin on a fully tax equivalent basis was 3.61% for the nine months ended September 30, 2025, compared to 3.34% for the same period in 2024, reflecting an improvement of 27 basis points [200]. - The company reported a net interest spread of 2.72% for the nine months ended September 30, 2025, compared to 2.30% for the same period in 2024 [200]. Capital Management - Shareholders' equity rose to $831.4 million, an increase of $24.5 million (12.0% annualized) during the quarter and $73.8 million (13.0%) from the prior year end [208]. - Year-to-date cash dividends were $1.47 per share, with a retention rate of 62.6% of earnings compared to 58.6% in the prior year [220]. - A total of 2,465,294 shares have been repurchased under the stock repurchase program, leaving 1,034,706 shares remaining [225]. Risk Management and Credit Loss Estimation - CTBI uses a discounted cash flow (DCF) model for estimating expected credit losses, which allows for effective incorporation of reasonable forecasts [232]. - Expected credit losses are estimated based on historical credit loss experience, peer data, and current market conditions, with forecasts considered reasonable for up to one year [233]. - Qualitative factors are included in the allowance for credit losses (ACL) to capture portfolio characteristics not fully reflected in the models, requiring significant management judgment [234]. - The reserve for unfunded commitments is maintained to absorb estimated expected credit losses related to unfunded credit facilities, based on the remaining contractual life of the commitments [237]. - CTBI's interest rate risk management aims to maintain consistent growth in net interest income, with a 200 basis point increase in the yield curve estimated to increase net interest income by 2.39% over one year [239].

Core Insights - Community Trust Bancorp, Inc. (CTBI) is a significant entity in the Zacks Banks - Southeast industry, providing a wide range of banking services while striving to achieve strong financial results despite competitive pressures [1] Financial Performance - For Q3 2025, CTBI reported an Earnings Per Share (EPS) of $1.32, which was below the expected $1.38, resulting in a negative earnings surprise of 4.35%. However, this EPS reflects an improvement from the previous year's $1.23, indicating growth in profitability [2][6] - The company's revenue for the quarter was $71.5 million, slightly under the forecast of $72.05 million, but it represented a 13.4% increase compared to the same period last year. This revenue figure also marginally exceeded the Zacks Consensus Estimate of $71.4 million, leading to a positive surprise of 0.14% [3][6] - CTBI's net income for Q3 2025 was $23.9 million, a decrease from $24.9 million in the previous quarter but an increase from $22.1 million in Q3 2024, demonstrating a consistent year-over-year growth trend despite quarterly fluctuations [4][6] Financial Ratios - The return on average assets was reported at 1.46%, and the return on average equity was 11.53%, both showing slight declines from the previous quarter. The efficiency ratio was 50.86%, indicating the company's operational efficiency [5] - CTBI's debt-to-equity ratio stood at 0.38, and the current ratio was 0.18, suggesting a moderate level of debt but potential liquidity concerns [5]

Core Insights - BAD BEAT Investing, led by Quad 7 Capital, is a team of 7 analysts with nearly 12 years of experience in identifying investment opportunities [1] - The firm is recognized for its February 2020 recommendation to sell everything and go short, maintaining an average position of 95% long and 5% short since May 2020 [1] - The team possesses expertise across various fields including business, policy, economics, mathematics, game theory, and sciences [1] - BAD BEAT Investing focuses on short- and medium-term investments, income generation, special situations, and momentum trades [1] - The company emphasizes educating investors to become proficient traders through a structured playbook, providing in-depth research with clear entry and exit targets [1] Benefits of BAD BEAT Investing - Investors learn to navigate the volatile nature of markets and execute well-researched trade ideas weekly [2] - Access to 4 chat rooms and daily complimentary summaries of key analyst upgrades and downgrades [2] - Educational resources on basic options trading and a variety of extensive trading tools are provided [2]

Core Insights - The company, Quad 7 Capital, is known for its investment strategy called BAD BEAT Investing, which has been operational for nearly 12 years and emphasizes both long and short trades [1] - The team consists of 7 analysts with diverse expertise in various fields, including business, policy, economics, and game theory [1] - The investment approach focuses on short- and medium-term investments, income generation, special situations, and momentum trades, aiming to educate investors on becoming proficient traders [1] Group 1 - Quad 7 Capital has a proven track record, highlighted by a significant market call in February 2020 to sell everything and go short, maintaining an average position of 95% long and 5% short since May 2020 [1] - The company provides in-depth, high-quality research with clear entry and exit targets to save investors time [1] - The investment group shares both long and short trades and invests personally in equities discussed within the group [1] Group 2 - Benefits of BAD BEAT Investing include learning market dynamics, executing well-researched trade ideas weekly, and access to multiple chat rooms for discussions [2] - Members receive daily summaries of key analyst upgrades and downgrades, along with education on basic options trading and extensive trading tools [2]

Core Insights - Community Trust Bancorp (CTBI) reported a revenue of $71.5 million for the quarter ended September 2025, reflecting a year-over-year increase of 13.4% [1] - The earnings per share (EPS) for the quarter was $1.32, up from $1.23 in the same quarter last year, although it fell short of the consensus estimate of $1.38 by 4.35% [1] Financial Performance Metrics - The efficiency ratio was reported at 50.9%, slightly above the average estimate of 49.9% from three analysts [4] - Average balances of interest-earning assets were $6.15 billion, exceeding the average estimate of $6.07 billion [4] - The net interest margin was reported at 3.6%, matching the average estimate from three analysts [4] - Net charge-offs as a percentage of average loans and leases were 0.1%, better than the average estimate of 0.2% from two analysts [4] - Total non-interest income was $15.95 million, slightly below the average estimate of $15.97 million [4] - Net interest income was $55.55 million, surpassing the average estimate of $55.45 million [4] - Deposit-related fees were reported at $8.13 million, higher than the average estimate of $7.7 million [4] - Loan-related fees were $0.9 million, below the average estimate of $1.13 million [4] - Trust revenue was $4.28 million, exceeding the average estimate of $4.07 million [4] Stock Performance - Shares of Community Trust Bancorp have returned +0.9% over the past month, compared to a +1% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Viewpoint - Community Trust Bancorp reported quarterly earnings of $1.32 per share, missing the Zacks Consensus Estimate of $1.38 per share, but showing an increase from $1.23 per share a year ago [1] Financial Performance - The earnings surprise for the quarter was -4.35%, with the company previously exceeding expectations by +8.66% in the prior quarter [2] - Revenues for the quarter ended September 2025 were $71.5 million, surpassing the Zacks Consensus Estimate by 0.14%, and up from $63.04 million year-over-year [3] Stock Performance - Community Trust Bancorp shares have increased by approximately 5.9% since the beginning of the year, compared to a 13% gain in the S&P 500 [4] Future Outlook - The company's earnings outlook is mixed, with current consensus EPS estimates of $1.37 for the coming quarter and $5.35 for the current fiscal year [8] - The Zacks Rank for the stock is currently 3 (Hold), indicating expected performance in line with the market [7] Industry Context - The Banks - Southeast industry is currently in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [9]

[Executive Summary](index=1&type=section&id=Executive%20Summary) Community Trust Bancorp, Inc. reported Q3 2025 net income of $23.9 million, a decrease QoQ but an increase YoY, driven by strong net interest income growth despite higher credit loss provisions and noninterest expenses [Earnings Overview](index=1&type=section&id=Earnings%20Overview) Community Trust Bancorp, Inc. reported net income of $23.9 million for Q3 2025, a decrease from Q2 2025 but an increase from Q3 2024, with similar trends in earnings per share Key Financial Metrics (in thousands except per share data) | Metric (in thousands except per share data) | 3Q 2025 | 2Q 2025 | 3Q 2024 | YTD 2025 | YTD 2024 | | :--------------------------------- | :------ | :------ | :------ | :------- | :------- | | Net income | $23,911 | $24,899 | $22,142 | $70,782 | $60,320 | | Earnings per share | $1.33 | $1.38 | $1.23 | $3.93 | $3.36 | | Earnings per share - diluted | $1.32 | $1.38 | $1.23 | $3.92 | $3.36 | | Return on average assets | 1.46% | 1.58% | 1.50% | 1.50% | 1.38% | | Return on average equity | 11.53% | 12.51% | 11.77% | 11.84% | 11.15% | | Efficiency ratio | 50.86% | 50.70% | 51.75% | 51.12% | 52.91% | | Dividends declared per share | $0.53 | $0.47 | $0.47 | $1.47 | $1.39 | | Book value per share | $45.91 | $44.57 | $42.14 | | | - Net income for Q3 2025 was **$23.9 million**, or **$1.33 per basic share**, a decrease from **$24.9 million** (**$1.38 per basic share**) in Q2 2025, but an increase from **$22.1 million** (**$1.23 per basic share**) in Q3 2024[1](index=1&type=chunk) - Total revenue for the quarter increased **$1.3 million QoQ** and **$8.7 million YoY**. Net interest revenue increased **$1.5 million QoQ** and **$8.4 million YoY**[1](index=1&type=chunk) [Q3 2025 Highlights](index=1&type=section&id=Q3%202025%20Highlights) Key financial highlights for Q3 2025 include a significant increase in net interest income both quarter-over-quarter and year-over-year, despite a slight decrease in net interest margin QoQ - Net interest income for Q3 2025 was **$55.6 million**, up **2.8% QoQ** and **17.7% YoY**. Net interest margin decreased **4 basis points QoQ** but increased **21 basis points YoY**[2](index=2&type=chunk) - Provision for credit losses was **$3.9 million**, an increase of **$1.8 million QoQ** and **$1.1 million YoY**[2](index=2&type=chunk) - Noninterest income was **$15.9 million**, down **1.4% QoQ** but up **2.5% YoY**[2](index=2&type=chunk) - Noninterest expense was **$36.7 million**, up **3.0% QoQ** and **13.0% YoY**[2](index=2&type=chunk) [Financial Performance Analysis](index=2&type=section&id=Financial%20Performance%20Analysis) The company's Q3 2025 financial performance was characterized by increased net interest income and noninterest expense, with a slight decrease in noninterest income quarter-over-quarter [Net Interest Income](index=2&type=section&id=Net%20Interest%20Income) Net interest income for Q3 2025 increased significantly both quarter-over-quarter and year-over-year, driven by higher income on earning assets, with the net interest margin slightly decreasing QoQ but increasing YoY Components of Net Interest Income (in thousands) | Components of net interest income ($ in thousands) | 3Q 2025 | 2Q 2025 | 3Q 2024 | Change (%) 3Q 2025 Compared to 2Q 2025 | Change (%) 3Q 2025 Compared to 3Q 2024 | | :--------------------------------- | :------ | :------ | :------ | :------------------------------------- | :------------------------------------- | | Income on earning assets | $88,562 | $85,571 | $79,814 | 3.5 | 11.0 | | Expense on interest bearing liabilities | $33,008 | $31,531 | $32,615 | 4.7 | 1.2 | | Net interest income | $55,554 | $54,040 | $47,199 | 2.8 | 17.7 | | Net interest income, tax equivalent | $55,855 | $54,323 | $47,479 | 2.8 | 17.6 | | Net interest margin (TEQ) | 3.60% | 3.64% | 3.39% | (1.1) | 6.2 | - Net interest income for Q3 2025 was **$55.6 million**, up **$1.5 million (2.8%)** from Q2 2025 and **$8.4 million (17.7%)** from Q3 2024[3](index=3&type=chunk) - Net interest margin (tax equivalent) was **3.60%**, a decrease of **4 basis points QoQ** but an increase of **21 basis points YoY**[3](index=3&type=chunk) - Average earning assets increased **$168.0 million (11.1% annualized) QoQ** and **$581.0 million (10.4%) YoY**[3](index=3&type=chunk) [Noninterest Income](index=2&type=section&id=Noninterest%20Income) Noninterest income for Q3 2025 slightly decreased quarter-over-quarter due to lower net securities gains and loan-related fees, but increased year-over-year primarily driven by higher trust revenue and deposit-related fees Noninterest Income Components (in thousands) | ($ in thousands) | 3Q 2025 | 2Q 2025 | 3Q 2024 | Change (%) 3Q 2025 Compared to 2Q 2025 | Change (%) 3Q 2025 Compared to 3Q 2024 | | :------------------------- | :------ | :------ | :------ | :------------------------------------- | :------------------------------------- | | Deposit related fees | $8,131 | $7,350 | $7,886 | 10.6 | 3.1 | | Trust revenue | $4,277 | $4,092 | $3,707 | 4.5 | 15.4 | | Loan related fees | $897 | $1,249 | $813 | (28.1) | 10.4 | | Total noninterest income | $15,946 | $16,171 | $15,563 | (1.4) | 2.5 | - Total noninterest income for Q3 2025 was **$15.9 million**, a **1.4% decrease QoQ** but a **2.5% increase YoY**[7](index=7&type=chunk) - QoQ variance was mainly due to decreases in net securities gains (**$0.6 million**) and loan related fees (**$0.4 million**), partially offset by increased deposit related fees (**$0.8 million**)[7](index=7&type=chunk) - YoY increases in trust revenue (**$0.6 million**) and deposit related fees (**$0.2 million**) were partially offset by a decrease in securities gains (**$0.7 million**)[7](index=7&type=chunk) [Noninterest Expense](index=3&type=section&id=Noninterest%20Expense) Noninterest expense for Q3 2025 increased both quarter-over-quarter and year-over-year, driven by rises in repossession, data processing, and marketing expenses QoQ, and broader increases including personnel and data processing YoY Noninterest Expense Components (in thousands) | ($ in thousands) | 3Q 2025 | 2Q 2025 | 3Q 2024 | Change (%) 3Q 2025 Compared to 2Q 2025 | Change (%) 3Q 2025 Compared to 3Q 2024 | | :------------------------------- | :------ | :------ | :------ | :------------------------------------- | :------------------------------------- | | Salaries | $13,913 | $13,667 | $13,374 | 1.8 | 4.0 | | Employee benefits | $7,861 | $7,987 | $6,147 | (1.6) | 27.9 | | Data processing | $3,575 | $3,326 | $2,804 | 7.5 | 27.5 | | Total noninterest expense | $36,744 | $35,663 | $32,512 | 3.0 | 13.0 | - Total noninterest expense for Q3 2025 was **$36.7 million**, up **3.0% QoQ** and **13.0% YoY**[8](index=8&type=chunk) - QoQ increase was mainly due to increases in repossession expense (**$0.4 million**), data processing expense (**$0.2 million**), and marketing and promotional (**$0.2 million**)[8](index=8&type=chunk) - YoY increase included personnel expense (**$2.3 million**), data processing expense (**$0.8 million**), repossession expense (**$0.4 million**), and marketing and promotional (**$0.2 million**)[8](index=8&type=chunk) [Balance Sheet Review](index=3&type=section&id=Balance%20Sheet%20Review) The balance sheet for Q3 2025 shows growth in total loans, deposits, and shareholders' equity, with deposits outpacing loan growth [Loans](index=3&type=section&id=Loans) Total loans outstanding at September 30, 2025, reached $4.8 billion, showing growth both quarter-over-quarter and year-over-year, primarily driven by increases in commercial and residential loan portfolios Total Loans (in thousands) | Total Loans ($ in thousands) | 3Q 2025 | 2Q 2025 | 3Q 2024 | Change (%) 3Q 2025 Compared to 2Q 2025 | Change (%) 3Q 2025 Compared to 3Q 2024 | | :--------------------------------- | :---------- | :---------- | :---------- | :------------------------------------- | :------------------------------------- | | Commercial nonresidential real estate | $921,682 | $913,463 | $834,985 | 0.9 | 10.4 | | Commercial residential real estate | $573,270 | $559,906 | $485,004 | 2.4 | 18.2 | | Total commercial | $2,424,910 | $2,382,565 | $2,214,090 | 1.8 | 9.5 | | Total residential | $1,341,731 | $1,289,807 | $1,166,136 | 4.0 | 15.1 | | Total consumer | $1,027,274 | $1,029,421 | $970,248 | (0.2) | 5.9 | | Total loans | $4,793,915 | $4,701,793 | $4,350,474 | 2.0 | 10.2 | - Loans outstanding at **$4.8 billion** increased **$92.1 million (7.8% annualized) QoQ** and **$443.4 million (10.2%) YoY**[6](index=6&type=chunk)[11](index=11&type=chunk) - The QoQ increase in loans included a **$42.3 million** increase in commercial loans and a **$51.9 million** increase in residential loans, partially offset by decreases in consumer indirect and direct loans[11](index=11&type=chunk) [Deposits and Repurchase Agreements](index=4&type=section&id=Deposits%20and%20Repurchase%20Agreements) Total deposits and repurchase agreements grew to $5.7 billion, showing strong increases both quarter-over-quarter and year-over-year, primarily driven by increases in interest-bearing deposits, outpacing loan growth Total Deposits and Repurchase Agreements (in thousands) | Total Deposits and Repurchase Agreements ($ in thousands) | 3Q 2025 | 2Q 2025 | 3Q 2024 | Change (%) 3Q 2025 Compared to 2Q 2025 | Change (%) 3Q 2025 Compared to 3Q 2024 | | :---------------------------------------- | :---------- | :---------- | :---------- | :------------------------------------- | :------------------------------------- | | Noninterest bearing deposits | $1,248,573 | $1,258,205 | $1,204,515 | (0.8) | 3.7 | | Interest checking | $194,327 | $173,795 | $156,249 | 11.8 | 24.4 | | Time deposits | $1,626,261 | $1,472,311 | $1,316,807 | 10.5 | 23.5 | | Repurchase agreements | $284,863 | $225,075 | $233,324 | 26.6 | 22.1 | | Total deposits and repurchase agreements | $5,670,324 | $5,458,083 | $5,071,586 | 3.9 | 11.8 | - Deposits, including repurchase agreements, at **$5.7 billion** increased **$212.2 million (15.4% annualized) QoQ** and **$598.7 million (11.8%) YoY**[6](index=6&type=chunk)[11](index=11&type=chunk) - Deposit growth outpaced loan growth, leading to an increase in deposits in other banks by **$117.7 million QoQ** and **$281.4 million YoY**[11](index=11&type=chunk) [Shareholders' Equity](index=4&type=section&id=Shareholders'%20Equity) Shareholders' equity increased to $831.4 million, reflecting growth both quarter-over-quarter and year-over-year, alongside a reduction in net unrealized losses on securities - Shareholders' equity at **$831.4 million** increased **$24.5 million (12.0% annualized)** during the quarter and **$70.6 million (9.3%)** from September 30, 2024[6](index=6&type=chunk)[12](index=12&type=chunk) - Net unrealized losses on securities, net of deferred taxes, decreased to **$71.1 million** at September 30, 2025, from **$80.6 million** at June 30, 2025 and September 30, 2024[12](index=12&type=chunk) - The annualized dividend yield to shareholders as of September 30, 2025, was **3.79%**[12](index=12&type=chunk) [Asset Quality](index=4&type=section&id=Asset%20Quality) Asset quality in Q3 2025 saw an increase in provision for credit losses and net charge-offs, while nonperforming loans remained relatively stable [Nonperforming Assets and Past Due Loans](index=4&type=section&id=Nonperforming%20Assets%20and%20Past%20Due%20Loans) Total nonperforming loans saw a slight increase QoQ but a decrease YoY, with accruing loans 90+ days past due increasing QoQ but significantly decreasing YoY - Total nonperforming loans were **$24.7 million**, an increase of **$0.3 million QoQ** but a decrease of **$0.4 million YoY**[6](index=6&type=chunk)[13](index=13&type=chunk) - Accruing loans 90+ days past due increased **$0.6 million QoQ** to **$9.0 million**, but decreased **$10.1 million YoY**[13](index=13&type=chunk) - Nonaccrual loans decreased **$0.3 million QoQ** to **$15.6 million**, but increased **$9.7 million YoY**[13](index=13&type=chunk) [Loan Charge-offs](index=4&type=section&id=Loan%20Charge-offs) Net loan charge-offs for Q3 2025 increased significantly compared to prior periods, primarily due to a large charge-off on one commercial credit, with commercial and consumer indirect loans being the main contributors - Net loan charge-offs for Q3 2025 were **$2.7 million (0.23% annualized of average loans)**, compared to **$1.4 million (0.12% annualized)** in Q2 2025 and **$1.5 million (0.14% annualized)** in Q3 2024[6](index=6&type=chunk)[14](index=14&type=chunk) - The primary increase in net charge-offs included a **$1 million** charge-off on one commercial credit totaling **$8 million**[15](index=15&type=chunk) - Of the Q3 2025 net charge-offs, **$1.2 million** were in commercial loans and **$1.2 million** were in consumer indirect loans[14](index=14&type=chunk) [Allowance for Credit Losses](index=5&type=section&id=Allowance%20for%20Credit%20Losses) The provision for credit losses increased significantly in Q3 2025, primarily to fund changes in loan volume and composition, leading to an improved reserve coverage ratio while the loan loss reserve as a percentage of total loans remained stable - Provision for credit losses was **$3.9 million** for Q3 2025, an increase of **$1.8 million QoQ** and **$1.1 million YoY**[16](index=16&type=chunk) - Of the Q3 provision, **$3.8 million** was allotted for changes in loan volume and composition[16](index=16&type=chunk) - Reserve coverage (allowance for credit losses to nonperforming loans) improved to **239.5%** at September 30, 2025, from **237.1%** at June 30, 2025 and **212.7%** at September 30, 2024[16](index=16&type=chunk) - Loan loss reserve as a percentage of total loans outstanding remained at **1.23%** at September 30, 2025[16](index=16&type=chunk) [Company Information](index=5&type=section&id=Company%20Information) The company provides forward-looking statements with inherent risks and details its profile as a $6.6 billion asset financial institution [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) The report contains forward-looking statements subject to various risks and uncertainties, including economic conditions, portfolio performance, regulatory changes, and integration difficulties from acquisitions, with no obligation to update these statements - Forward-looking statements are identified by words like "believe," "expect," "anticipate," and similar expressions[17](index=17&type=chunk) - Risks and uncertainties include economic conditions, portfolio growth and credit performance, inflation and interest rates, regulatory changes, competition, and integration challenges from acquisitions[17](index=17&type=chunk) - CTBI undertakes no obligation to update any forward-looking statements[17](index=17&type=chunk) [Company Profile](index=5&type=section&id=Company%20Profile) Community Trust Bancorp, Inc. is headquartered in Pikeville, Kentucky, with $6.6 billion in assets and a broad banking presence across Kentucky, West Virginia, and Tennessee, including multiple trust offices - Community Trust Bancorp, Inc. has assets of **$6.6 billion**[18](index=18&type=chunk) - Headquartered in Pikeville, Kentucky, it operates **72 banking locations** across Kentucky, **six** in southern West Virginia, and **three** in northeastern Tennessee[18](index=18&type=chunk) - The company also has **four trust offices** across Kentucky and **one** in Tennessee[18](index=18&type=chunk) [Detailed Financial Statements](index=6&type=section&id=Detailed%20Financial%20Statements) This section presents comprehensive income statements, balance sheets, key financial ratios, and market price information for the reported periods [Income Statement and Performance Ratios](index=6&type=section&id=Income%20Statement%20and%20Performance%20Ratios) The detailed financial summary provides a comprehensive breakdown of the income statement for Q3 2025, Q2 2025, Q3 2024, and year-to-date figures, including interest income and expense, noninterest income and expense components, net income, and key performance ratios Income Statement and Performance Ratios (in thousands except per share data) | (in thousands except per share data) | Three Months Ended Sep 30, 2025 | Three Months Ended Jun 30, 2025 | Three Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2025 | Nine Months Ended Sep 30, 2024 | | :----------------------------------- | :------------------------------ | :------------------------------ | :------------------------------ | :----------------------------- | :----------------------------- | | Interest income | $88,562 | $85,571 | $79,814 | $256,187 | $231,464 | | Interest expense | $33,008 | $31,531 | $32,615 | $95,326 | $94,996 | | Net interest income | $55,554 | $54,040 | $47,199 | $160,861 | $136,468 | | Provision for credit losses | $3,866 | $2,094 | $2,736 | $9,528 | $8,364 | | Total noninterest income | $15,946 | $16,171 | $15,563 | $47,014 | $46,405 | | Total noninterest expense | $36,744 | $35,663 | $32,512 | $106,615 | $97,154 | | Net income | $23,911 | $24,899 | $22,142 | $70,782 | $60,320 | | Basic earnings per share | $1.33 | $1.38 | $1.23 | $3.93 | $3.36 | | Return on average assets | 1.46% | 1.58% | 1.50% | 1.50% | 1.38% | | Net interest margin (tax equivalent) | 3.60% | 3.64% | 3.39% | 3.61% | 3.34% | | Efficiency ratio (tax equivalent) | 50.86% | 50.70% | 51.75% | 51.12% | 52.91% | [Balance Sheet and Key Ratios](index=8&type=section&id=Balance%20Sheet%20and%20Key%20Ratios) The balance sheet provides a snapshot of assets, liabilities, and equity as of September 30, 2025, June 30, 2025, and September 30, 2024, including key components like loans, securities, deposits, and shareholders' equity, along with critical ratios and asset quality metrics Balance Sheet and Key Ratios (in thousands) | (in thousands) | As of Sep 30, 2025 | As of Jun 30, 2025 | As of Sep 30, 2024 | | :--------------------------------- | :----------------- | :----------------- | :----------------- | | Loans | $4,793,915 | $4,701,793 | $4,350,474 | | Allowance for credit losses | $(59,135) | $(57,825) | $(53,360) | | Total Assets | $6,638,129 | $6,390,938 | $5,962,968 | | Total deposits | $5,385,461 | $5,233,008 | $4,838,262 | | Repurchase agreements | $284,863 | $225,075 | $233,324 | | Shareholders' equity | $831,373 | $806,869 | $760,762 | | 90 days past due loans | $9,040 | $8,449 | $19,111 | | Nonaccrual loans | $15,647 | $15,937 | $5,980 | | Community bank leverage ratio | 13.68% | 13.80% | 13.99% | | Tangible equity to tangible assets ratio | 11.65% | 11.72% | 11.79% | [Market Price Information](index=7&type=section&id=Market%20Price%20Information) The market price information provides the high, low, and closing stock prices for Community Trust Bancorp, Inc. for the third quarter of 2025, second quarter of 2025, and third quarter of 2024, as well as year-to-date figures Market Price Information | Market Price | 3Q 2025 | 2Q 2025 | 3Q 2024 | YTD 2025 | YTD 2024 | | :----------- | :------ | :------ | :------ | :------- | :------- | | High | $59.67 | $53.82 | $52.22 | $59.67 | $52.22 | | Low | $52.60 | $44.60 | $41.50 | $44.60 | $38.44 | | Close | $55.95 | $52.92 | $49.66 | $55.95 | $49.66 |

Core Viewpoint - Community Trust Bancorp, Inc. reported a net income of $23.9 million for the third quarter of 2025, reflecting a decrease from the previous quarter but an increase compared to the same quarter last year. The company experienced growth in net interest income and total revenue, while facing increases in noninterest expenses and provisions for credit losses. Financial Performance - Net income for 3Q2025 was $23.9 million, or $1.33 per basic share, down from $24.9 million in 2Q2025 but up from $22.1 million in 3Q2024 [1] - Total revenue for the quarter was $1.3 million above the prior quarter and $8.7 million above the same quarter last year [1] - Net interest revenue increased by $1.5 million from the prior quarter and $8.4 million from the same quarter last year [1][2] - Noninterest income for 3Q2025 was $15.9 million, a decrease of $0.2 million from the prior quarter but an increase of $0.4 million from the same quarter last year [2][8] Loan and Deposit Growth - The loan portfolio reached $4.8 billion, increasing by $92.1 million from the previous quarter and $443.4 million from the same quarter last year [2][14] - Total deposits, including repurchase agreements, increased to $5.7 billion, up by $212.2 million from the prior quarter and $598.7 million from the same quarter last year [5][14] Expense and Efficiency Metrics - Noninterest expense for 3Q2025 was $36.7 million, an increase of $1.1 million from the prior quarter and $4.2 million from the same quarter last year [11] - The efficiency ratio improved to 50.86% from 51.75% in the same quarter last year [1] Asset Quality - The provision for credit losses was $3.9 million, an increase of $1.8 million from the prior quarter and $1.1 million from the same quarter last year [2][19] - Total nonperforming loans were $24.7 million, an increase of $0.3 million from the prior quarter but a decrease of $0.4 million from the same quarter last year [5][16] Shareholder Returns - Dividends declared per share increased to $0.53 from $0.47 in the previous quarter and the same quarter last year [1] - Shareholders' equity rose to $831.4 million, an increase of $24.5 million during the quarter and $70.6 million from the same quarter last year [15]

Group 1 - Community Trust Bancorp is expected to have a decent year in 2025, with expanding net interest margins and a growing balance sheet [1] - Asset quality for Community Trust Bancorp remains resilient for the time being [1]