Community Trust Bank(US:CTBI)2026-01-21 13:22Financial Performance - Community Trust Bancorp, Inc. reported record net income of $27.3 million for Q4 2025, an increase of 14.8% from $23.9 million in Q3 2025 and 21.5% from $22.5 million in Q4 2024[1]. - Earnings per share for Q4 2025 were $1.51, up from $1.33 in Q3 2025 and $1.25 in Q4 2024, while full-year earnings per share reached $5.44, a 17.9% increase from $4.61 in 2024[1]. - Net interest income for Q4 2025 was $58.1 million, representing a 4.6% increase from Q3 2025 and a 17.3% increase from Q4 2024[2]. - Noninterest income for Q4 2025 was $16.6 million, a 4.1% increase from Q3 2025 and a 2.7% increase from Q4 2024[6]. - Net income for the year ended December 31, 2025, was $98.058 million, a 18.4% increase from $82.813 million in 2024[21]. - Basic earnings per share for Q4 2025 were $1.51, up from $1.25 in Q4 2024, representing a 20.8% increase[21]. - The return on average assets improved to 1.63% in Q4 2025, compared to 1.47% in Q4 2024[21]. Loan and Deposit Growth - The loan portfolio increased to $4.9 billion, up $101.0 million or 8.4% from the prior quarter and $408.3 million or 9.1% from the prior year[3]. - Total loans outstanding as of Q4 2025 reached $4.9 billion, an increase of $101.0 million (2.1%) from the prior quarter and $408.3 million (9.1%) from the prior year[10]. - Deposits, including repurchase agreements, rose to $5.7 billion, an increase of $27.5 million or 1.9% from the prior quarter and $387.5 million or 7.3% from the prior year[3]. - Total deposits reached $5.389 billion as of December 31, 2025, compared to $5.070 billion a year prior, reflecting a 6.3% increase[24]. Asset Quality - Total nonperforming loans decreased to $19.2 million, down $5.5 million from the prior quarter and $7.5 million from the prior year[3]. - The provision for credit losses for Q4 2025 was $2.9 million, a decrease of $1.0 million from the prior quarter but an increase of $0.3 million from the same quarter last year[16]. - The reserve coverage ratio (allowance for credit losses to nonperforming loans) improved to 314.0% as of December 31, 2025, compared to 239.5% at September 30, 2025[16]. - The company reported net charge-offs of $7.431 million for the year, an increase from $5.526 million in the previous year[21]. Operational Efficiency - The efficiency ratio improved to 48.70% in Q4 2025, down from 50.86% in Q3 2025 and 51.60% in Q4 2024[1]. - The efficiency ratio improved to 48.70% in Q4 2025, down from 51.60% in Q4 2024, showing enhanced operational efficiency[21]. Branch and Market Expansion - The company is consolidating two branches into a newly constructed modern branch to enhance service delivery in the Mt. Sterling Market[8]. - The company operates 72 banking locations across Kentucky and additional locations in West Virginia and Tennessee, supporting its market expansion strategy[19]. Investment and Asset Growth - The investment portfolio increased to $1.1 billion, up $82.9 million (31.6%) from the prior quarter and $65.4 million (6.2%) from the prior year[11]. - Total assets as of December 31, 2025, were $6.684 billion, up from $6.193 billion a year earlier, indicating an 8.0% growth[24]. - Average loans increased to $4.821 billion in Q4 2025, compared to $4.399 billion in Q4 2024, marking a 9.6% rise[21].