{"success":true,"data":{"pressRelease":{"id":"175502","rtpr_id":"nBw8wYx7Da-20261021","ticker":"CTBI","exchange":"NASDAQ","all_tickers":["CTBI"],"title":"Community Trust Bancorp, Inc. Reports Earnings for the 3rd Quarter 2026","author":"Business Wire","published_at":"2026-10-21T12:15:00.109Z","article_body":"Community Trust Bancorp, Inc. Reports Earnings for the 3(rd) Quarter 2026\n\nCommunity Trust Bancorp, Inc. (NASDAQ:CTBI):\n\nEarnings Summary\n (in thousands except per share data) 3Q 2Q 3Q YTD YTD \n \n \n \n \n \n \n \n2026 \n2026 \n2025 \n2026 \n2025 \n Net income $25,890 $29,623 $23,911 $82,705 $70,782 \n Earnings per share $1.43 $1.64 $1.33 $4.58 $3.93 \n Earnings per share - diluted $1.43 $1.64 $1.32 $4.57 $3.92 \n             \n Return on average assets 1.46% 1.74% 1.46% 1.61% 1.50% \n Return on average equity 11.49% 13.40% 11.53% 12.49% 11.84% \n Efficiency ratio 45.90% 47.99% 50.86% 47.51% 51.12% \n Tangible common equity 11.60% 11.93% 11.65%     \n             \n Dividends declared per share $0.71 $0.53 $0.53 $1.77 $1.47 \n Book value per share $48.29 $49.10 $45.91     \n             \n Weighted average shares 18,069 18,064 18,019 18,061 18,009 \n Weighted average shares - diluted 18,114 18,099 18,053 18,098 18,037 \n\n\nCommunity Trust Bancorp, Inc. (NASDAQ-CTBI) achieved earnings for the third\nquarter 2026 of $25.9 million, or $1.43 per basic earnings per share, compared\nto $29.6 million, or $1.64 per basic share, earned during the second quarter\n2026 and $23.9 million, or $1.33 per basic share, earned during the third\nquarter 2025. Total revenue for the quarter was $1.2 million above prior\nquarter and $8.2 million above prior year same quarter. Net interest income\nfor the quarter increased $0.2 million compared to prior quarter and $5.5\nmillion compared to prior year same quarter, and noninterest income increased\n$1.0 million compared to prior quarter and $2.7 million compared to prior year\nsame quarter. Our provision for credit losses for the quarter increased $6.4\nmillion from prior quarter and $5.3 million from prior year same quarter.\nNoninterest expense decreased $0.9 million compared to prior quarter and $0.3\nmillion compared to prior year same quarter. Earnings for the nine months\nended September 30, 2026 were $82.7 million, or $4.58 per basic share,\ncompared to $70.8 million, or $3.93 per basic share, for the same period prior\nyear.\n\n3(rd) Quarter 2026 Highlights\n\n\n * Net interest income for the quarter of $61.1 million was $0.2 million, or\n0.3%, above prior quarter and $5.5 million, or 9.9%, above prior year same\nquarter, as our net interest margin decreased 17 basis points from prior\nquarter but increased 3 basis points from prior year same quarter.\n\n * Provision for credit losses at $9.2 million for the quarter increased $6.4\nmillion from prior quarter and $5.3 million from prior year same quarter.\n\n * Noninterest income for the quarter of $18.6 million was $1.0 million, or 6.0%,\nabove prior quarter and $2.7 million, or 16.9%, above prior year same quarter.\n\n * Noninterest expense for the quarter of $36.5 million was $0.9 million, or\n2.4%, below prior quarter and $0.3 million, or 0.7%, below prior year same\nquarter.\n\n * Our loan portfolio at $5.3 billion increased $177.9 million, an annualized\n13.8%, for the quarter and $509.0 million, or 10.6%, from September 30, 2025.\n\n * We had net loan charge-offs of $6.6 million, an annualized 0.50% of average\nloans, for the quarter compared to $0.9 million, an annualized 0.07% of\naverage loans, for prior quarter and $2.7 million, an annualized 0.23% of\naverage loans, for the third quarter 2025.\n\n * Our total nonperforming loans at $22.5 million at September 30, 2026 decreased\n$7.3 million for the quarter and $2.2 million from September 30, 2025.\nNonperforming assets at $27.7 million decreased $5.6 million for the quarter\nand $1.8 million from September 30, 2025.\n\n * Deposits, including repurchase agreements, at $6.0 billion increased $86.1\nmillion, an annualized 5.7%, for the quarter and $370.7 million, or 6.5%, from\nSeptember 30, 2025.\n\n * Shareholders’ equity at $877.3 million decreased $14.5 million, an\nannualized 6.4%, for the quarter but increased $46.0 million, or 5.5%, from\nSeptember 30, 2025.\n\nNet Interest Income\n Percent Change   \n 3Q 2026 \n \n \n \nCompared to: \n ($ in thousands) 3Q 2Q 3Q 2Q 3Q YTD YTD Percent \n \n \n \n \n \n \n \n \n \n \n2026 \n2026 \n2025 \n2026 \n2025 \n2026 \n2025 \nChange \n Components of net interest income: \n Income on earning assets $94,893 $91,238 $88,562 4.0% 7.1% $273,886 $256,187 6.9% \n Expense on interest bearing liabilities 33,837 30,349 33,008 11.5% 2.5% 93,159 95,326 (2.3)% \n Net interest income 61,056 60,889 55,554 0.3% 9.9% 180,727 160,861 12.3% \n TEQ 284 304 301 (6.6)% (5.4)% 905 857 5.6% \n Net interest income, tax equivalent (non-GAAP) $61,340 $61,193 $55,855 0.2% 9.8% $181,632 $161,718 12.3% \n                 \n Average yield and rates paid:                 \n Earning assets yield 5.63% 5.68% 5.73% (0.9)% (1.7)% 5.65% 5.73% (1.4)% \n Rate paid on interest bearing liabilities 2.78% 2.64% 3.01% 5.2% (7.6)% 2.68% 3.01% (11.0)% \n Gross interest margin 2.85% 3.04% 2.72% (6.3)% 4.7% 2.97% 2.72% 9.1% \n Net interest margin 3.63% 3.80% 3.60% (4.4)% 0.7% 3.74% 3.61% 3.6% \n                 \n Average balances:                 \n Investment securities $1,126,360 $1,081,411 $1,006,259 4.2% 11.9% $1,107,298 $1,018,062 8.8% \n Loans $5,175,712 $5,051,165 $4,736,104 2.5% 9.3% $5,054,596 $4,646,475 8.8% \n Earning assets $6,704,985 $6,464,479 $6,151,134 3.7% 9.0% $6,500,315 $5,995,216 8.4% \n Interest-bearing liabilities $4,832,747 $4,610,459 $4,353,313 4.8% 11.0% $4,647,249 $4,236,566 9.7% \n\n\nNet interest income for the quarter of $61.1 million was $0.2 million, or\n0.3%, above prior quarter and $5.5 million, or 9.9%, above prior year same\nquarter, as our net interest margin, on a fully tax equivalent basis,\ndecreased 17 basis points from prior quarter but increased 3 basis points from\nprior year same quarter. Our quarterly average earning assets increased $240.5\nmillion, an annualized 3.7%, from prior quarter and $553.9 million, or 9.0%,\nfrom prior year same quarter. Our yield on average earning assets decreased 5\nbasis points from prior quarter and 10 basis points from prior year same\nquarter, while our cost of funds increased 14 basis points from prior quarter\nbut decreased 23 basis points from prior year same quarter. Our ratio of\naverage loans to deposits, including repurchase agreements, for the quarter\nwas 86.2% compared to 87.2% for prior quarter and 85.6% for same quarter prior\nyear. Net interest income for the nine months ended September 30, 2026 at\n$180.7 million was $19.9 million, or 12.3%, above same period prior year.\n\nProvision for Credit Losses\n\nOur provision for credit losses at $9.2 million for the quarter increased $6.4\nmillion from prior quarter and $5.3 million from prior year same quarter. Of\nthe provision for the quarter, $5.8 million was attributable to the allowance\nfor credit losses, with an additional expense of $0.6 million recognized in\nthe provision for unfunded commitments. The increase in the provision was the\nresult of the increase in net charge-offs in addition to the significant loan\ngrowth we experienced during the quarter. Provision for credit losses for the\nnine months ended September 30, 2026 at $14.3 million was $4.7 million above\nsame period prior year.\n\nNoninterest Income\n Percent Change   \n 3Q 2026 \n \n \n \nCompared to: \n ($ in thousands) 3Q 2Q 3Q 2Q 3Q YTD YTD Percent \n \n \n \n \n \n \n \n \n \n \n2026 \n2026 \n2025 \n2026 \n2025 \n2026 \n2025 \nChange \n Deposit related fees $8,579 $7,657 $8,131 12.0% 5.5% $23,391 $22,303 4.9% \n Trust and wealth management income 4,885 4,724 4,277 3.4% 14.2% 14,071 12,350 13.9% \n Gains on sales of loans 33 61 89 (46.2)% (63.5)% 145 213 (31.8)% \n Loan related fees 1,268 1,146 897 10.7% 41.3% 3,453 3,111 11.0% \n Bank owned life insurance revenue 1,227 1,188 1,144 3.2% 7.3% 4,129 3,281 25.9% \n Brokerage revenue 727 528 588 37.8% 23.6% 1,775 1,608 10.4% \n Other 1,929 2,295 820 (16.0)% 135.2% 4,697 4,148 13.2% \n Total noninterest income $18,648 $17,599 $15,946 6.0% 16.9% $51,661 $47,014 9.9% \n\n\nNoninterest income for the quarter of $18.6 million was $1.0 million, or 6.0%,\nabove prior quarter and $2.7 million, or 16.9%, above prior year same quarter.\nThe variance quarter over quarter was primarily the result of a $0.9 million\nincrease in deposit related fees. Increases in trust and wealth management\nincome ($0.2 million) and brokerage revenue ($0.2 million) were offset by a\n$0.4 million decline in net securities gains, included in the “Other” row\nin the table above. Year over year increases for the quarter included net\nsecurities gains ($1.0 million), trust and wealth management income ($0.6\nmillion), deposit related fees ($0.4 million), and loan related fees ($0.4\nmillion). The variances in securities gains resulted primarily from changes in\nthe valuation of our equity securities. Noninterest income for the nine months\nended September 30, 2026 of $51.7 million was $4.6 million, or 9.9%, above\nprior year same period.\n\nNoninterest Expense\n Percent Change   \n 3Q 2026 \n \n \n \nCompared to: \n ($ in thousands) 3Q 2Q 3Q 2Q 3Q YTD YTD Percent \n \n \n \n \n \n \n \n \n \n \n2026 \n2026 \n2025 \n2026 \n2025 \n2026 \n2025 \nChange \n Salaries $14,252 $13,923 $13,913 2.4% 2.4% $41,804 $40,849 2.3% \n Employee benefits 7,491 9,297 7,861 (19.4)% (4.7)% 25,264 22,697 11.3% \n Net occupancy and equipment 3,489 3,367 3,261 3.6% 7.0% 10,555 9,873 6.9% \n Data processing 3,077 2,851 3,575 7.9% (13.9)% 8,883 9,760 (9.0)% \n Legal and professional fees 1,277 1,084 1,045 17.8% 22.1% 3,525 3,271 7.8% \n Advertising and marketing 907 841 953 7.9% (4.8)% 2,448 2,391 2.4% \n Taxes other than property and payroll 667 619 564 7.9% 18.3% 1,903 1,666 14.2% \n Other 5,320 5,388 5,572 (1.3)% (4.5)% 16,005 16,108 (0.6)% \n Total noninterest expense $36,480 $37,370 $36,744 (2.4)% (0.7)% $110,387 $106,615 3.5% \n\n\nNoninterest expense for the quarter of $36.5 million was $0.9 million, or\n2.4%, below prior quarter and $0.3 million, or 0.7%, below prior year same\nquarter. The quarter over quarter decrease primarily resulted from a $1.7\nmillion decrease in the cost of our group medical and life insurance, included\nin employee benefits, partially offset by increases in salaries ($0.3\nmillion), data processing expense ($0.2 million), and legal and professional\nfees ($0.2 million). The year over year decrease for the quarter primarily\nresulted from a $0.5 million decrease in data processing expense offset by a\n$0.2 million increase in legal fees. The decrease in the cost of group medical\nand life insurance year over year was offset by increases in salaries and\nbonuses. Noninterest expense for the nine months ended September 30, 2026 of\n$110.4 million was $3.8 million, or 3.5%, above prior year same period.\n\nBalance Sheet Review\n\nCTBI’s total assets at $7.1 billion increased $72.2 million, or 4.1%\nannualized, for the quarter and $423.4 million, or 6.4%, from September 30,\n2025. Loans outstanding at $5.3 billion increased $177.9 million, an\nannualized 13.8%, for the quarter and $509.0 million, or 10.6%, from September\n30, 2025. The increase in loans for the quarter included a $80.9 million\nincrease in the commercial loan portfolio, a $53.0 million increase in the\nresidential loan portfolio, and a $46.8 million increase in the consumer\nindirect loan portfolio, partially offset by a $2.8 million decrease in the\nconsumer direct loan portfolio. CTBI’s investment portfolio at $1.1 billion\nincreased $60.1 million, an annualized 22.6%, for the quarter and $74.4\nmillion, or 7.1%, from September 30, 2025. Deposits in other banks decreased\n$178.1 million for the quarter and $164.0 million from September 30, 2025.\n\nTotal Loans\n Percent Change \n 3Q 2026 Compared to: \n ($ in thousands) 3Q 2Q 3Q 2Q 3Q \n \n \n \n \n \n \n \n2026 \n2026 \n2025 \n2026 \n2025 \n Commercial nonresidential real estate $1,061,605 $1,005,462 $921,682 5.6% 15.2% \n Commercial residential real estate 633,648 599,454 573,270 5.7% 10.5% \n Hotel/motel 539,287 528,697 483,833 2.0% 11.5% \n Other commercial 443,920 463,901 446,125 (4.3)% (0.5)% \n Total commercial 2,678,460 2,597,514 2,424,910 3.1% 10.5% \n         \n Residential mortgage 1,336,242 1,289,157 1,157,540 3.7% 15.4% \n Home equity loans/lines 201,192 195,270 184,191 3.0% 9.2% \n Total residential 1,537,434 1,484,427 1,341,731 3.6% 14.6% \n         \n Consumer indirect 949,929 903,125 877,555 5.2% 8.2% \n Consumer direct 137,045 139,865 149,719 (2.0)% (8.5)% \n Total consumer 1,086,974 1,042,990 1,027,274 4.2% 5.8% \n         \n Total loans $5,302,868 $5,124,931 $4,793,915 3.5% 10.6% \n\n\nTotal Deposits and Repurchase Agreements\n Percent Change \n 3Q 2026 Compared to: \n ($ in thousands) 3Q 2Q 3Q 2Q 3Q \n \n \n \n \n \n \n \n2026 \n2026 \n2025 \n2026 \n2025 \n Noninterest bearing deposits $1,254,885 $1,259,364 $1,248,573 (0.4)% 0.5% \n Interest bearing deposits         \n Interest checking 193,714 188,978 194,327 2.5% (0.3)% \n Money market savings 1,862,607 1,963,115 1,815,111 (5.1)% 2.6% \n Savings accounts 488,796 497,390 501,189 (1.7)% (2.5)% \n Time deposits 1,889,887 1,748,916 1,626,261 8.1% 16.2% \n Repurchase agreements 351,105 297,094 284,863 18.2% 23.3% \n Total interest bearing deposits and repurchase agreements 4,786,109 4,695,493 4,421,751 1.9% 8.2% \n Total deposits and repurchase agreements $6,040,994 $5,954,857 $5,670,324 1.4% 6.5% \n\n\nDeposits, including repurchase agreements, at $6.0 billion increased $86.1\nmillion, an annualized 5.7%, for the quarter and $370.7 million, or 6.5%, from\nSeptember 30, 2025. CTBI is not dependent on any one customer or group of\ncustomers for their source of deposits. As of September 30, 2026, two\ncustomers accounted for over 3% each (3.8% and 3.7%) of our $5.7 billion in\ndeposits. Only these two customer relationships accounted for more than 1%\neach of our deposits.\n\nShareholders’ equity at $877.3 million decreased $14.5 million, an\nannualized 6.4%, for the quarter but increased $46.0 million, or 5.5%, from\nSeptember 30, 2025. Net unrealized losses on securities, net of deferred\ntaxes, were $96.7 million at September 30, 2026, compared to $68.4 million at\nJune 30, 2026 and $71.1 million at September 30, 2025. CTBI’s annualized\ndividend yield to shareholders as of September 30, 2026 was 3.83%.\n\nAsset Quality\n\nOur total nonperforming loans at $22.5 million at September 30, 2026 decreased\n$7.3 million for the quarter and $2.2 million from September 30, 2025.\nNonaccrual loans at $9.5 million decreased $1.3 million from prior quarter and\n$6.2 million from September 30, 2025. Accruing loans 90+ days past due at\n$13.0 million decreased $5.9 million from prior quarter but increased $4.0\nmillion from September 30, 2025. Accruing loans 30-89 days past due at $23.1\nmillion increased $2.8 million from prior quarter and $4.6 million from\nSeptember 30, 2025. Our loan portfolio management processes focus on the\nimmediate identification, management, and resolution of problem loans to\nmaximize recovery and minimize loss.\n\nWe had net loan charge-offs of $6.6 million, an annualized 0.50% of average\nloans, for the quarter compared to $0.9 million, an annualized 0.07% of\naverage loans, for prior quarter and $2.7 million, an annualized 0.23% of\naverage loans, for the third quarter 2025. The increase in net loan\ncharge-offs was primarily attributable to an $8.7 million commercial\nrelationship previously reported as an accruing loan 90+ past due and in the\nprocess of collection. At June 30, 2026, management's analysis suggested that\nthis loan was well secured. During September, the collateral was sold at\nauction, and we received a significantly lower amount at bid, resulting in a\n$4.3 million charge-off. Of the net charge-offs for the quarter, $5.0 million\nwere in commercial loans, $1.3 million were in consumer indirect loans, and\n$0.3 million were in consumer direct loans. Net loan charge-offs for the nine\nmonths ended September 30, 2026 were $8.8 million, or an annualized 0.23% of\naverage loans, compared to $5.7 million, or an annualized 0.16% of average\nloans, for the same period prior year.\n\nAllowance for Credit Losses\n\nOur reserve coverage (allowance for credit losses to nonperforming loans) at\nSeptember 30, 2026 was 289.3% compared to 211.8% at June 30, 2026 and 239.5%\nat September 30, 2025. Our allowance for credit losses as a percentage of\ntotal loans outstanding at September 30, 2026 remained at 1.23% from June 30,\n2026 and September 30, 2025. The table below shows the changes in components\nof the allowance for credit losses during the third quarter 2026:\n Beginning balance $63,001 \n New loan volume 6,146 \n Changes in existing loan balances (882) \n Loans exiting (2,969) \n Historical loss rate (381) \n Qualitative factors 240 \n Other changes (96) \n Ending balance $65,059 \n\n\nForward-Looking Statements\n\nCertain of the statements contained herein that are not historical facts are\nforward-looking statements within the meaning of the Private Securities\nLitigation Reform Act. CTBI’s actual results may differ materially from\nthose included in the forward-looking statements. Forward-looking statements\nare typically identified by words or phrases such as “believe,”\n“expect,” “anticipate,” “intend,” “estimate,” “may\nincrease,” “may fluctuate,” and similar expressions or future or\nconditional verbs such as “will,” “should,” “would,” and\n“could.” These forward-looking statements involve risks and uncertainties\nincluding, but not limited to, economic conditions, portfolio growth, the\ncredit performance of the portfolios, including bankruptcies, and seasonal\nfactors; changes in general economic conditions including the performance of\nfinancial markets, prevailing inflation and interest rates, realized gains\nfrom sales of investments, gains from asset sales, and losses on commercial\nlending activities; the effects of epidemics, pandemics, or other infectious\ndisease outbreaks; results of various investment activities; the effects of\ncompetitors’ pricing policies, changes in laws and regulations, competition,\nand demographic changes on target market populations’ savings and financial\nplanning needs; industry changes in information technology systems on which we\nare highly dependent; failure of acquisitions to produce revenue enhancements\nor cost savings at levels or within the time frames originally anticipated or\nunforeseen integration difficulties; the resolution of legal proceedings and\nrelated matters. In addition, the banking industry in general is subject to\nvarious monetary, operational, and fiscal policies and regulations, which\ninclude, but are not limited to, those determined by the Federal Reserve\nBoard, the Federal Deposit Insurance Corporation, the Consumer Financial\nProtection Bureau, and state regulators, whose policies, regulations, and\nenforcement actions could affect CTBI’s results. These statements are\nrepresentative only on the date hereof, and CTBI undertakes no obligation to\nupdate any forward-looking statements made.\n\nCommunity Trust Bancorp, Inc., with assets of $7.1 billion, is headquartered\nin Pikeville, Kentucky and has 69 banking locations across eastern,\nnortheastern, central, and south central Kentucky, six banking locations in\nsouthern West Virginia, three banking locations in northeastern Tennessee,\nfour trust offices across Kentucky, and one trust office in Tennessee.\n\nAdditional information follows.\n Community Trust Bancorp, Inc. \n Financial Summary (Unaudited) \n September 30, 2026 \n (in thousands except per share data and # of employees) \n   \n Three Three Three Nine Nine \n Months Months Months Months Months \n Ended Ended Ended Ended Ended \n September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 \n Interest income $ 94,893 $ 91,238 $ 88,562 $ 273,886 $ 256,187 \n Interest expense   33,837   30,349   33,008   93,159   95,326 \n Net interest income   61,056   60,889   55,554   180,727   160,861 \n Provision for credit losses   9,171   2,771   3,866   14,253   9,528 \n   \n Gains on sales of loans   33   61   89   145   213 \n Deposit related fees   8,579   7,657   8,131   23,391   22,303 \n Trust and wealth management income   4,885   4,724   4,277   14,071   12,350 \n Loan related fees   1,268   1,146   897   3,453   3,111 \n Securities gains (losses)   515   924   (449)   951   181 \n Other noninterest income   3,368   3,087   3,001   9,650   8,856 \n Total noninterest income   18,648   17,599   15,946   51,661   47,014 \n   \n Personnel expense   21,743   23,220   21,774   67,068   63,546 \n Occupancy and equipment   3,489   3,367   3,261   10,555   9,873 \n Data processing expense   3,077   2,851   3,575   8,883   9,760 \n FDIC insurance premiums   750   751   703   2,245   2,080 \n Other noninterest expense   7,421   7,181   7,431   21,636   21,356 \n Total noninterest expense   36,480   37,370   36,744   110,387   106,615 \n   \n Net income before taxes   34,053   38,347   30,890   107,748   91,732 \n Income taxes   8,163   8,724   6,979   25,043   20,950 \n Net income $ 25,890 $ 29,623 $ 23,911 $ 82,705 $ 70,782 \n   \n Memo: TEQ interest income $ 95,177 $ 91,542 $ 88,863 $ 274,791 $ 257,044 \n   \n Average shares outstanding   18,069   18,064   18,019   18,061   18,009 \n Diluted average shares outstanding   18,114   18,099   18,053   18,098   18,037 \n Basic earnings per share $ 1.43 $ 1.64 $ 1.33 $ 4.58 $ 3.93 \n Diluted earnings per share $ 1.43 $ 1.64 $ 1.32 $ 4.57 $ 3.92 \n Dividends per share $ 0.71 $ 0.53 $ 0.53 $ 1.77 $ 1.47 \n   \n Average balances: \n Loans $ 5,175,712 $ 5,051,165 $ 4,736,104 $ 5,054,596 $ 4,646,475 \n Earning assets   6,704,985   6,464,479   6,151,134   6,500,315   5,995,216 \n Total assets   7,049,781   6,817,407   6,487,817   6,846,923   6,327,184 \n Deposits, including repurchase agreements   6,008,105   5,793,767   5,531,461   5,822,548   5,399,692 \n Interest bearing liabilities   4,832,747   4,610,459   4,353,313   4,647,249   4,236,566 \n Shareholders' equity   894,271   886,914   823,016   885,046   798,996 \n   \n Performance ratios: \n Return on average assets   1.46%   1.74%   1.46%   1.61%   1.50% \n Return on average equity   11.49%   13.40%   11.53%   12.49%   11.84% \n Yield on average earning assets (tax equivalent)   5.63%   5.68%   5.73%   5.65%   5.73% \n Cost of interest bearing funds (tax equivalent)   2.78%   2.64%   3.01%   2.68%   3.01% \n Net interest margin (tax equivalent)   3.63%   3.80%   3.60%   3.74%   3.61% \n Efficiency ratio (tax equivalent)   45.90%   47.99%   50.86%   47.51%   51.12% \n   \n Loan charge-offs $ 7,724 $ 2,112 $ 4,024 $ 12,522 $ 9,274 \n Recoveries   (1,172)   (1,195)   (1,276)   (3,735)   (3,598) \n Net charge-offs $ 6,552 $ 917 $ 2,748 $ 8,787 $ 5,676 \n   \n Market Price: \n High $ 79.92 $ 73.22 $ 59.67 $ 79.92 $ 59.67 \n Low $ 70.60 $ 60.40 $ 52.60 $ 56.05 $ 44.60 \n Close $ 74.22 $ 72.36 $ 55.95 $ 74.22 $ 55.95 \n   \n Community Trust Bancorp, Inc. \n Financial Summary (Unaudited) \n September 30, 2026 \n (in thousands except per share data and # of employees) \n   \n As of As of As of \n September 30, 2026 June 30, 2026 September 30, 2025 \n Assets: \n Loans $ 5,302,868 $ 5,124,931 $ 4,793,915 \n Allowance for credit losses   (65,059)   (63,001)   (59,135) \n Net loans   5,237,809   5,061,930   4,734,780 \n Loans held for sale   150   -   483 \n Securities AFS   1,111,268   1,051,681   1,037,965 \n Equity securities at fair value   5,093   4,578   3,961 \n Other equity investments   11,176   10,412   9,948 \n Other earning assets   274,493   452,627   438,501 \n Cash and due from banks   59,170   63,815   71,218 \n Premises and equipment   53,143   53,065   52,245 \n Right of use asset   14,531   14,957   15,974 \n Goodwill and core deposit intangible   65,490   65,490   65,490 \n Other assets   229,249   210,816   207,564 \n Total Assets $ 7,061,572 $ 6,989,371 $ 6,638,129 \n   \n Liabilities and Equity: \n Interest bearing checking $ 193,714 $ 188,978 $ 194,327 \n Savings deposits   2,351,403   2,460,505   2,316,300 \n CD's >=$100,000   1,208,796   1,107,635   992,728 \n Other time deposits   681,091   641,281   633,533 \n Total interest bearing deposits   4,435,004   4,398,399   4,136,888 \n Noninterest bearing deposits   1,254,885   1,259,364   1,248,573 \n Total deposits   5,689,889   5,657,763   5,385,461 \n Repurchase agreements   351,105   297,094   284,863 \n Other interest bearing liabilities   64,383   64,448   64,641 \n Lease liabilities   15,621   16,000   16,909 \n Other noninterest bearing liabilities   63,239   62,239   54,882 \n Total liabilities   6,184,237   6,097,544   5,806,756 \n Shareholders' equity   877,335   891,827   831,373 \n Total Liabilities and Equity $ 7,061,572 $ 6,989,371 $ 6,638,129 \n   \n Ending shares outstanding   18,168   18,164   18,110 \n   \n 30 - 89 days past due loans $ 23,149 $ 20,301 $ 18,500 \n 90 days past due loans   13,022   18,951   9,040 \n Nonaccrual loans   9,465   10,794   15,647 \n Foreclosed properties   5,212   3,517   4,856 \n   \n Community bank leverage ratio   13.60%   13.89%   13.68% \n Tangible equity to tangible assets ratio   11.60%   11.93%   11.65% \n FTE employees   968   970   929 \n\n\n \n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261021205663/en/\n(https://www.businesswire.com/news/home/20261021205663/en/)\n\nFor Additional Information, Please Contact Mark A. Gooch, Chairman, President,\nand CEO, Community Trust Bancorp, Inc. at (606) 437-3229\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw8wYx7Da-20261021","title":"Community Trust Bancorp, Inc. Reports Earnings for the 3rd Quarter 2026","author":"Business Wire","ticker":"CTBI","created":"2026-10-21T12:15:00.109Z","tickers":["CTBI"],"exchange":"NASDAQ","article_body":"Community Trust Bancorp, Inc. Reports Earnings for the 3(rd) Quarter 2026\n\nCommunity Trust Bancorp, Inc. (NASDAQ:CTBI):\n\nEarnings Summary\n (in thousands except per share data) 3Q 2Q 3Q YTD YTD \n \n \n \n \n \n \n \n2026 \n2026 \n2025 \n2026 \n2025 \n Net income $25,890 $29,623 $23,911 $82,705 $70,782 \n Earnings per share $1.43 $1.64 $1.33 $4.58 $3.93 \n Earnings per share - diluted $1.43 $1.64 $1.32 $4.57 $3.92 \n             \n Return on average assets 1.46% 1.74% 1.46% 1.61% 1.50% \n Return on average equity 11.49% 13.40% 11.53% 12.49% 11.84% \n Efficiency ratio 45.90% 47.99% 50.86% 47.51% 51.12% \n Tangible common equity 11.60% 11.93% 11.65%     \n             \n Dividends declared per share $0.71 $0.53 $0.53 $1.77 $1.47 \n Book value per share $48.29 $49.10 $45.91     \n             \n Weighted average shares 18,069 18,064 18,019 18,061 18,009 \n Weighted average shares - diluted 18,114 18,099 18,053 18,098 18,037 \n\n\nCommunity Trust Bancorp, Inc. (NASDAQ-CTBI) achieved earnings for the third\nquarter 2026 of $25.9 million, or $1.43 per basic earnings per share, compared\nto $29.6 million, or $1.64 per basic share, earned during the second quarter\n2026 and $23.9 million, or $1.33 per basic share, earned during the third\nquarter 2025. Total revenue for the quarter was $1.2 million above prior\nquarter and $8.2 million above prior year same quarter. Net interest income\nfor the quarter increased $0.2 million compared to prior quarter and $5.5\nmillion compared to prior year same quarter, and noninterest income increased\n$1.0 million compared to prior quarter and $2.7 million compared to prior year\nsame quarter. Our provision for credit losses for the quarter increased $6.4\nmillion from prior quarter and $5.3 million from prior year same quarter.\nNoninterest expense decreased $0.9 million compared to prior quarter and $0.3\nmillion compared to prior year same quarter. Earnings for the nine months\nended September 30, 2026 were $82.7 million, or $4.58 per basic share,\ncompared to $70.8 million, or $3.93 per basic share, for the same period prior\nyear.\n\n3(rd) Quarter 2026 Highlights\n\n\n * Net interest income for the quarter of $61.1 million was $0.2 million, or\n0.3%, above prior quarter and $5.5 million, or 9.9%, above prior year same\nquarter, as our net interest margin decreased 17 basis points from prior\nquarter but increased 3 basis points from prior year same quarter.\n\n * Provision for credit losses at $9.2 million for the quarter increased $6.4\nmillion from prior quarter and $5.3 million from prior year same quarter.\n\n * Noninterest income for the quarter of $18.6 million was $1.0 million, or 6.0%,\nabove prior quarter and $2.7 million, or 16.9%, above prior year same quarter.\n\n * Noninterest expense for the quarter of $36.5 million was $0.9 million, or\n2.4%, below prior quarter and $0.3 million, or 0.7%, below prior year same\nquarter.\n\n * Our loan portfolio at $5.3 billion increased $177.9 million, an annualized\n13.8%, for the quarter and $509.0 million, or 10.6%, from September 30, 2025.\n\n * We had net loan charge-offs of $6.6 million, an annualized 0.50% of average\nloans, for the quarter compared to $0.9 million, an annualized 0.07% of\naverage loans, for prior quarter and $2.7 million, an annualized 0.23% of\naverage loans, for the third quarter 2025.\n\n * Our total nonperforming loans at $22.5 million at September 30, 2026 decreased\n$7.3 million for the quarter and $2.2 million from September 30, 2025.\nNonperforming assets at $27.7 million decreased $5.6 million for the quarter\nand $1.8 million from September 30, 2025.\n\n * Deposits, including repurchase agreements, at $6.0 billion increased $86.1\nmillion, an annualized 5.7%, for the quarter and $370.7 million, or 6.5%, from\nSeptember 30, 2025.\n\n * Shareholders’ equity at $877.3 million decreased $14.5 million, an\nannualized 6.4%, for the quarter but increased $46.0 million, or 5.5%, from\nSeptember 30, 2025.\n\nNet Interest Income\n Percent Change   \n 3Q 2026 \n \n \n \nCompared to: \n ($ in thousands) 3Q 2Q 3Q 2Q 3Q YTD YTD Percent \n \n \n \n \n \n \n \n \n \n \n2026 \n2026 \n2025 \n2026 \n2025 \n2026 \n2025 \nChange \n Components of net interest income: \n Income on earning assets $94,893 $91,238 $88,562 4.0% 7.1% $273,886 $256,187 6.9% \n Expense on interest bearing liabilities 33,837 30,349 33,008 11.5% 2.5% 93,159 95,326 (2.3)% \n Net interest income 61,056 60,889 55,554 0.3% 9.9% 180,727 160,861 12.3% \n TEQ 284 304 301 (6.6)% (5.4)% 905 857 5.6% \n Net interest income, tax equivalent (non-GAAP) $61,340 $61,193 $55,855 0.2% 9.8% $181,632 $161,718 12.3% \n                 \n Average yield and rates paid:                 \n Earning assets yield 5.63% 5.68% 5.73% (0.9)% (1.7)% 5.65% 5.73% (1.4)% \n Rate paid on interest bearing liabilities 2.78% 2.64% 3.01% 5.2% (7.6)% 2.68% 3.01% (11.0)% \n Gross interest margin 2.85% 3.04% 2.72% (6.3)% 4.7% 2.97% 2.72% 9.1% \n Net interest margin 3.63% 3.80% 3.60% (4.4)% 0.7% 3.74% 3.61% 3.6% \n                 \n Average balances:                 \n Investment securities $1,126,360 $1,081,411 $1,006,259 4.2% 11.9% $1,107,298 $1,018,062 8.8% \n Loans $5,175,712 $5,051,165 $4,736,104 2.5% 9.3% $5,054,596 $4,646,475 8.8% \n Earning assets $6,704,985 $6,464,479 $6,151,134 3.7% 9.0% $6,500,315 $5,995,216 8.4% \n Interest-bearing liabilities $4,832,747 $4,610,459 $4,353,313 4.8% 11.0% $4,647,249 $4,236,566 9.7% \n\n\nNet interest income for the quarter of $61.1 million was $0.2 million, or\n0.3%, above prior quarter and $5.5 million, or 9.9%, above prior year same\nquarter, as our net interest margin, on a fully tax equivalent basis,\ndecreased 17 basis points from prior quarter but increased 3 basis points from\nprior year same quarter. Our quarterly average earning assets increased $240.5\nmillion, an annualized 3.7%, from prior quarter and $553.9 million, or 9.0%,\nfrom prior year same quarter. Our yield on average earning assets decreased 5\nbasis points from prior quarter and 10 basis points from prior year same\nquarter, while our cost of funds increased 14 basis points from prior quarter\nbut decreased 23 basis points from prior year same quarter. Our ratio of\naverage loans to deposits, including repurchase agreements, for the quarter\nwas 86.2% compared to 87.2% for prior quarter and 85.6% for same quarter prior\nyear. Net interest income for the nine months ended September 30, 2026 at\n$180.7 million was $19.9 million, or 12.3%, above same period prior year.\n\nProvision for Credit Losses\n\nOur provision for credit losses at $9.2 million for the quarter increased $6.4\nmillion from prior quarter and $5.3 million from prior year same quarter. Of\nthe provision for the quarter, $5.8 million was attributable to the allowance\nfor credit losses, with an additional expense of $0.6 million recognized in\nthe provision for unfunded commitments. The increase in the provision was the\nresult of the increase in net charge-offs in addition to the significant loan\ngrowth we experienced during the quarter. Provision for credit losses for the\nnine months ended September 30, 2026 at $14.3 million was $4.7 million above\nsame period prior year.\n\nNoninterest Income\n Percent Change   \n 3Q 2026 \n \n \n \nCompared to: \n ($ in thousands) 3Q 2Q 3Q 2Q 3Q YTD YTD Percent \n \n \n \n \n \n \n \n \n \n \n2026 \n2026 \n2025 \n2026 \n2025 \n2026 \n2025 \nChange \n Deposit related fees $8,579 $7,657 $8,131 12.0% 5.5% $23,391 $22,303 4.9% \n Trust and wealth management income 4,885 4,724 4,277 3.4% 14.2% 14,071 12,350 13.9% \n Gains on sales of loans 33 61 89 (46.2)% (63.5)% 145 213 (31.8)% \n Loan related fees 1,268 1,146 897 10.7% 41.3% 3,453 3,111 11.0% \n Bank owned life insurance revenue 1,227 1,188 1,144 3.2% 7.3% 4,129 3,281 25.9% \n Brokerage revenue 727 528 588 37.8% 23.6% 1,775 1,608 10.4% \n Other 1,929 2,295 820 (16.0)% 135.2% 4,697 4,148 13.2% \n Total noninterest income $18,648 $17,599 $15,946 6.0% 16.9% $51,661 $47,014 9.9% \n\n\nNoninterest income for the quarter of $18.6 million was $1.0 million, or 6.0%,\nabove prior quarter and $2.7 million, or 16.9%, above prior year same quarter.\nThe variance quarter over quarter was primarily the result of a $0.9 million\nincrease in deposit related fees. Increases in trust and wealth management\nincome ($0.2 million) and brokerage revenue ($0.2 million) were offset by a\n$0.4 million decline in net securities gains, included in the “Other” row\nin the table above. Year over year increases for the quarter included net\nsecurities gains ($1.0 million), trust and wealth management income ($0.6\nmillion), deposit related fees ($0.4 million), and loan related fees ($0.4\nmillion). The variances in securities gains resulted primarily from changes in\nthe valuation of our equity securities. Noninterest income for the nine months\nended September 30, 2026 of $51.7 million was $4.6 million, or 9.9%, above\nprior year same period.\n\nNoninterest Expense\n Percent Change   \n 3Q 2026 \n \n \n \nCompared to: \n ($ in thousands) 3Q 2Q 3Q 2Q 3Q YTD YTD Percent \n \n \n \n \n \n \n \n \n \n \n2026 \n2026 \n2025 \n2026 \n2025 \n2026 \n2025 \nChange \n Salaries $14,252 $13,923 $13,913 2.4% 2.4% $41,804 $40,849 2.3% \n Employee benefits 7,491 9,297 7,861 (19.4)% (4.7)% 25,264 22,697 11.3% \n Net occupancy and equipment 3,489 3,367 3,261 3.6% 7.0% 10,555 9,873 6.9% \n Data processing 3,077 2,851 3,575 7.9% (13.9)% 8,883 9,760 (9.0)% \n Legal and professional fees 1,277 1,084 1,045 17.8% 22.1% 3,525 3,271 7.8% \n Advertising and marketing 907 841 953 7.9% (4.8)% 2,448 2,391 2.4% \n Taxes other than property and payroll 667 619 564 7.9% 18.3% 1,903 1,666 14.2% \n Other 5,320 5,388 5,572 (1.3)% (4.5)% 16,005 16,108 (0.6)% \n Total noninterest expense $36,480 $37,370 $36,744 (2.4)% (0.7)% $110,387 $106,615 3.5% \n\n\nNoninterest expense for the quarter of $36.5 million was $0.9 million, or\n2.4%, below prior quarter and $0.3 million, or 0.7%, below prior year same\nquarter. The quarter over quarter decrease primarily resulted from a $1.7\nmillion decrease in the cost of our group medical and life insurance, included\nin employee benefits, partially offset by increases in salaries ($0.3\nmillion), data processing expense ($0.2 million), and legal and professional\nfees ($0.2 million). The year over year decrease for the quarter primarily\nresulted from a $0.5 million decrease in data processing expense offset by a\n$0.2 million increase in legal fees. The decrease in the cost of group medical\nand life insurance year over year was offset by increases in salaries and\nbonuses. Noninterest expense for the nine months ended September 30, 2026 of\n$110.4 million was $3.8 million, or 3.5%, above prior year same period.\n\nBalance Sheet Review\n\nCTBI’s total assets at $7.1 billion increased $72.2 million, or 4.1%\nannualized, for the quarter and $423.4 million, or 6.4%, from September 30,\n2025. Loans outstanding at $5.3 billion increased $177.9 million, an\nannualized 13.8%, for the quarter and $509.0 million, or 10.6%, from September\n30, 2025. The increase in loans for the quarter included a $80.9 million\nincrease in the commercial loan portfolio, a $53.0 million increase in the\nresidential loan portfolio, and a $46.8 million increase in the consumer\nindirect loan portfolio, partially offset by a $2.8 million decrease in the\nconsumer direct loan portfolio. CTBI’s investment portfolio at $1.1 billion\nincreased $60.1 million, an annualized 22.6%, for the quarter and $74.4\nmillion, or 7.1%, from September 30, 2025. Deposits in other banks decreased\n$178.1 million for the quarter and $164.0 million from September 30, 2025.\n\nTotal Loans\n Percent Change \n 3Q 2026 Compared to: \n ($ in thousands) 3Q 2Q 3Q 2Q 3Q \n \n \n \n \n \n \n \n2026 \n2026 \n2025 \n2026 \n2025 \n Commercial nonresidential real estate $1,061,605 $1,005,462 $921,682 5.6% 15.2% \n Commercial residential real estate 633,648 599,454 573,270 5.7% 10.5% \n Hotel/motel 539,287 528,697 483,833 2.0% 11.5% \n Other commercial 443,920 463,901 446,125 (4.3)% (0.5)% \n Total commercial 2,678,460 2,597,514 2,424,910 3.1% 10.5% \n         \n Residential mortgage 1,336,242 1,289,157 1,157,540 3.7% 15.4% \n Home equity loans/lines 201,192 195,270 184,191 3.0% 9.2% \n Total residential 1,537,434 1,484,427 1,341,731 3.6% 14.6% \n         \n Consumer indirect 949,929 903,125 877,555 5.2% 8.2% \n Consumer direct 137,045 139,865 149,719 (2.0)% (8.5)% \n Total consumer 1,086,974 1,042,990 1,027,274 4.2% 5.8% \n         \n Total loans $5,302,868 $5,124,931 $4,793,915 3.5% 10.6% \n\n\nTotal Deposits and Repurchase Agreements\n Percent Change \n 3Q 2026 Compared to: \n ($ in thousands) 3Q 2Q 3Q 2Q 3Q \n \n \n \n \n \n \n \n2026 \n2026 \n2025 \n2026 \n2025 \n Noninterest bearing deposits $1,254,885 $1,259,364 $1,248,573 (0.4)% 0.5% \n Interest bearing deposits         \n Interest checking 193,714 188,978 194,327 2.5% (0.3)% \n Money market savings 1,862,607 1,963,115 1,815,111 (5.1)% 2.6% \n Savings accounts 488,796 497,390 501,189 (1.7)% (2.5)% \n Time deposits 1,889,887 1,748,916 1,626,261 8.1% 16.2% \n Repurchase agreements 351,105 297,094 284,863 18.2% 23.3% \n Total interest bearing deposits and repurchase agreements 4,786,109 4,695,493 4,421,751 1.9% 8.2% \n Total deposits and repurchase agreements $6,040,994 $5,954,857 $5,670,324 1.4% 6.5% \n\n\nDeposits, including repurchase agreements, at $6.0 billion increased $86.1\nmillion, an annualized 5.7%, for the quarter and $370.7 million, or 6.5%, from\nSeptember 30, 2025. CTBI is not dependent on any one customer or group of\ncustomers for their source of deposits. As of September 30, 2026, two\ncustomers accounted for over 3% each (3.8% and 3.7%) of our $5.7 billion in\ndeposits. Only these two customer relationships accounted for more than 1%\neach of our deposits.\n\nShareholders’ equity at $877.3 million decreased $14.5 million, an\nannualized 6.4%, for the quarter but increased $46.0 million, or 5.5%, from\nSeptember 30, 2025. Net unrealized losses on securities, net of deferred\ntaxes, were $96.7 million at September 30, 2026, compared to $68.4 million at\nJune 30, 2026 and $71.1 million at September 30, 2025. CTBI’s annualized\ndividend yield to shareholders as of September 30, 2026 was 3.83%.\n\nAsset Quality\n\nOur total nonperforming loans at $22.5 million at September 30, 2026 decreased\n$7.3 million for the quarter and $2.2 million from September 30, 2025.\nNonaccrual loans at $9.5 million decreased $1.3 million from prior quarter and\n$6.2 million from September 30, 2025. Accruing loans 90+ days past due at\n$13.0 million decreased $5.9 million from prior quarter but increased $4.0\nmillion from September 30, 2025. Accruing loans 30-89 days past due at $23.1\nmillion increased $2.8 million from prior quarter and $4.6 million from\nSeptember 30, 2025. Our loan portfolio management processes focus on the\nimmediate identification, management, and resolution of problem loans to\nmaximize recovery and minimize loss.\n\nWe had net loan charge-offs of $6.6 million, an annualized 0.50% of average\nloans, for the quarter compared to $0.9 million, an annualized 0.07% of\naverage loans, for prior quarter and $2.7 million, an annualized 0.23% of\naverage loans, for the third quarter 2025. The increase in net loan\ncharge-offs was primarily attributable to an $8.7 million commercial\nrelationship previously reported as an accruing loan 90+ past due and in the\nprocess of collection. At June 30, 2026, management's analysis suggested that\nthis loan was well secured. During September, the collateral was sold at\nauction, and we received a significantly lower amount at bid, resulting in a\n$4.3 million charge-off. Of the net charge-offs for the quarter, $5.0 million\nwere in commercial loans, $1.3 million were in consumer indirect loans, and\n$0.3 million were in consumer direct loans. Net loan charge-offs for the nine\nmonths ended September 30, 2026 were $8.8 million, or an annualized 0.23% of\naverage loans, compared to $5.7 million, or an annualized 0.16% of average\nloans, for the same period prior year.\n\nAllowance for Credit Losses\n\nOur reserve coverage (allowance for credit losses to nonperforming loans) at\nSeptember 30, 2026 was 289.3% compared to 211.8% at June 30, 2026 and 239.5%\nat September 30, 2025. Our allowance for credit losses as a percentage of\ntotal loans outstanding at September 30, 2026 remained at 1.23% from June 30,\n2026 and September 30, 2025. The table below shows the changes in components\nof the allowance for credit losses during the third quarter 2026:\n Beginning balance $63,001 \n New loan volume 6,146 \n Changes in existing loan balances (882) \n Loans exiting (2,969) \n Historical loss rate (381) \n Qualitative factors 240 \n Other changes (96) \n Ending balance $65,059 \n\n\nForward-Looking Statements\n\nCertain of the statements contained herein that are not historical facts are\nforward-looking statements within the meaning of the Private Securities\nLitigation Reform Act. CTBI’s actual results may differ materially from\nthose included in the forward-looking statements. Forward-looking statements\nare typically identified by words or phrases such as “believe,”\n“expect,” “anticipate,” “intend,” “estimate,” “may\nincrease,” “may fluctuate,” and similar expressions or future or\nconditional verbs such as “will,” “should,” “would,” and\n“could.” These forward-looking statements involve risks and uncertainties\nincluding, but not limited to, economic conditions, portfolio growth, the\ncredit performance of the portfolios, including bankruptcies, and seasonal\nfactors; changes in general economic conditions including the performance of\nfinancial markets, prevailing inflation and interest rates, realized gains\nfrom sales of investments, gains from asset sales, and losses on commercial\nlending activities; the effects of epidemics, pandemics, or other infectious\ndisease outbreaks; results of various investment activities; the effects of\ncompetitors’ pricing policies, changes in laws and regulations, competition,\nand demographic changes on target market populations’ savings and financial\nplanning needs; industry changes in information technology systems on which we\nare highly dependent; failure of acquisitions to produce revenue enhancements\nor cost savings at levels or within the time frames originally anticipated or\nunforeseen integration difficulties; the resolution of legal proceedings and\nrelated matters. In addition, the banking industry in general is subject to\nvarious monetary, operational, and fiscal policies and regulations, which\ninclude, but are not limited to, those determined by the Federal Reserve\nBoard, the Federal Deposit Insurance Corporation, the Consumer Financial\nProtection Bureau, and state regulators, whose policies, regulations, and\nenforcement actions could affect CTBI’s results. These statements are\nrepresentative only on the date hereof, and CTBI undertakes no obligation to\nupdate any forward-looking statements made.\n\nCommunity Trust Bancorp, Inc., with assets of $7.1 billion, is headquartered\nin Pikeville, Kentucky and has 69 banking locations across eastern,\nnortheastern, central, and south central Kentucky, six banking locations in\nsouthern West Virginia, three banking locations in northeastern Tennessee,\nfour trust offices across Kentucky, and one trust office in Tennessee.\n\nAdditional information follows.\n Community Trust Bancorp, Inc. \n Financial Summary (Unaudited) \n September 30, 2026 \n (in thousands except per share data and # of employees) \n   \n Three Three Three Nine Nine \n Months Months Months Months Months \n Ended Ended Ended Ended Ended \n September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 \n Interest income $ 94,893 $ 91,238 $ 88,562 $ 273,886 $ 256,187 \n Interest expense   33,837   30,349   33,008   93,159   95,326 \n Net interest income   61,056   60,889   55,554   180,727   160,861 \n Provision for credit losses   9,171   2,771   3,866   14,253   9,528 \n   \n Gains on sales of loans   33   61   89   145   213 \n Deposit related fees   8,579   7,657   8,131   23,391   22,303 \n Trust and wealth management income   4,885   4,724   4,277   14,071   12,350 \n Loan related fees   1,268   1,146   897   3,453   3,111 \n Securities gains (losses)   515   924   (449)   951   181 \n Other noninterest income   3,368   3,087   3,001   9,650   8,856 \n Total noninterest income   18,648   17,599   15,946   51,661   47,014 \n   \n Personnel expense   21,743   23,220   21,774   67,068   63,546 \n Occupancy and equipment   3,489   3,367   3,261   10,555   9,873 \n Data processing expense   3,077   2,851   3,575   8,883   9,760 \n FDIC insurance premiums   750   751   703   2,245   2,080 \n Other noninterest expense   7,421   7,181   7,431   21,636   21,356 \n Total noninterest expense   36,480   37,370   36,744   110,387   106,615 \n   \n Net income before taxes   34,053   38,347   30,890   107,748   91,732 \n Income taxes   8,163   8,724   6,979   25,043   20,950 \n Net income $ 25,890 $ 29,623 $ 23,911 $ 82,705 $ 70,782 \n   \n Memo: TEQ interest income $ 95,177 $ 91,542 $ 88,863 $ 274,791 $ 257,044 \n   \n Average shares outstanding   18,069   18,064   18,019   18,061   18,009 \n Diluted average shares outstanding   18,114   18,099   18,053   18,098   18,037 \n Basic earnings per share $ 1.43 $ 1.64 $ 1.33 $ 4.58 $ 3.93 \n Diluted earnings per share $ 1.43 $ 1.64 $ 1.32 $ 4.57 $ 3.92 \n Dividends per share $ 0.71 $ 0.53 $ 0.53 $ 1.77 $ 1.47 \n   \n Average balances: \n Loans $ 5,175,712 $ 5,051,165 $ 4,736,104 $ 5,054,596 $ 4,646,475 \n Earning assets   6,704,985   6,464,479   6,151,134   6,500,315   5,995,216 \n Total assets   7,049,781   6,817,407   6,487,817   6,846,923   6,327,184 \n Deposits, including repurchase agreements   6,008,105   5,793,767   5,531,461   5,822,548   5,399,692 \n Interest bearing liabilities   4,832,747   4,610,459   4,353,313   4,647,249   4,236,566 \n Shareholders' equity   894,271   886,914   823,016   885,046   798,996 \n   \n Performance ratios: \n Return on average assets   1.46%   1.74%   1.46%   1.61%   1.50% \n Return on average equity   11.49%   13.40%   11.53%   12.49%   11.84% \n Yield on average earning assets (tax equivalent)   5.63%   5.68%   5.73%   5.65%   5.73% \n Cost of interest bearing funds (tax equivalent)   2.78%   2.64%   3.01%   2.68%   3.01% \n Net interest margin (tax equivalent)   3.63%   3.80%   3.60%   3.74%   3.61% \n Efficiency ratio (tax equivalent)   45.90%   47.99%   50.86%   47.51%   51.12% \n   \n Loan charge-offs $ 7,724 $ 2,112 $ 4,024 $ 12,522 $ 9,274 \n Recoveries   (1,172)   (1,195)   (1,276)   (3,735)   (3,598) \n Net charge-offs $ 6,552 $ 917 $ 2,748 $ 8,787 $ 5,676 \n   \n Market Price: \n High $ 79.92 $ 73.22 $ 59.67 $ 79.92 $ 59.67 \n Low $ 70.60 $ 60.40 $ 52.60 $ 56.05 $ 44.60 \n Close $ 74.22 $ 72.36 $ 55.95 $ 74.22 $ 55.95 \n   \n Community Trust Bancorp, Inc. \n Financial Summary (Unaudited) \n September 30, 2026 \n (in thousands except per share data and # of employees) \n   \n As of As of As of \n September 30, 2026 June 30, 2026 September 30, 2025 \n Assets: \n Loans $ 5,302,868 $ 5,124,931 $ 4,793,915 \n Allowance for credit losses   (65,059)   (63,001)   (59,135) \n Net loans   5,237,809   5,061,930   4,734,780 \n Loans held for sale   150   -   483 \n Securities AFS   1,111,268   1,051,681   1,037,965 \n Equity securities at fair value   5,093   4,578   3,961 \n Other equity investments   11,176   10,412   9,948 \n Other earning assets   274,493   452,627   438,501 \n Cash and due from banks   59,170   63,815   71,218 \n Premises and equipment   53,143   53,065   52,245 \n Right of use asset   14,531   14,957   15,974 \n Goodwill and core deposit intangible   65,490   65,490   65,490 \n Other assets   229,249   210,816   207,564 \n Total Assets $ 7,061,572 $ 6,989,371 $ 6,638,129 \n   \n Liabilities and Equity: \n Interest bearing checking $ 193,714 $ 188,978 $ 194,327 \n Savings deposits   2,351,403   2,460,505   2,316,300 \n CD's >=$100,000   1,208,796   1,107,635   992,728 \n Other time deposits   681,091   641,281   633,533 \n Total interest bearing deposits   4,435,004   4,398,399   4,136,888 \n Noninterest bearing deposits   1,254,885   1,259,364   1,248,573 \n Total deposits   5,689,889   5,657,763   5,385,461 \n Repurchase agreements   351,105   297,094   284,863 \n Other interest bearing liabilities   64,383   64,448   64,641 \n Lease liabilities   15,621   16,000   16,909 \n Other noninterest bearing liabilities   63,239   62,239   54,882 \n Total liabilities   6,184,237   6,097,544   5,806,756 \n Shareholders' equity   877,335   891,827   831,373 \n Total Liabilities and Equity $ 7,061,572 $ 6,989,371 $ 6,638,129 \n   \n Ending shares outstanding   18,168   18,164   18,110 \n   \n 30 - 89 days past due loans $ 23,149 $ 20,301 $ 18,500 \n 90 days past due loans   13,022   18,951   9,040 \n Nonaccrual loans   9,465   10,794   15,647 \n Foreclosed properties   5,212   3,517   4,856 \n   \n Community bank leverage ratio   13.60%   13.89%   13.68% \n Tangible equity to tangible assets ratio   11.60%   11.93%   11.65% \n FTE employees   968   970   929 \n\n\n \n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261021205663/en/\n(https://www.businesswire.com/news/home/20261021205663/en/)\n\nFor Additional Information, Please Contact Mark A. Gooch, Chairman, President,\nand CEO, Community Trust Bancorp, Inc. at (606) 437-3229\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-10-21T12:15:00.185503968Z","server_sent_at_ms":1792584900185},"received_at":"2026-10-21T12:15:00.423Z","source_url":"https://www.businesswire.com/news/home/20261021205663/en/"},"analysis":{"id":"163514","press_release_id":"175502","analysis_json":{"industry":{"label":"Banks","sector":"Financials"},"redFlags":["provision for credit losses more than tripled QoQ to $9.2 million","net charge-offs jumped to 0.50% annualized from 0.07% prior quarter, including a $4.3M loss on a loan previously believed well-secured","90+ days past due accruing loans up $4.0M YoY and 30-89 days past due up $4.6M YoY","net interest margin compressed 17 bps QoQ to 3.63%","unrealized securities losses widened to $96.7 million from $68.4 million at June 30"],"eventType":"earnings","narrative":"Community Trust Bancorp reported Q3 2026 net income of $25.9 million, or $1.43 per diluted share, up from $23.9 million ($1.33) a year earlier but down from $29.6 million ($1.64) in Q2.\n\nNet interest income rose 9.9% YoY to $61.1 million and noninterest income climbed 16.9% to $18.6 million, while noninterest expense fell 0.7% YoY.\n\nCredit quality was the sore spot: the provision jumped to $9.2 million and net charge-offs hit an annualized 0.50% of average loans, driven largely by a $4.3 million charge-off on a commercial loan whose collateral sold well below expectations at auction.\n\nLoans grew 13.8% annualized to $5.3 billion and deposits rose to $6.0 billion; the quarterly dividend was raised to $0.71 per share from $0.53.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"Solid YoY earnings growth and a dividend hike, but a tripling credit provision and spike in charge-offs warrant watching asset quality into Q4."},"keyFigures":{"eps":1.43,"revenue":"total revenue up $8.2 million vs prior year same quarter","customDimensions":{"npl":22500000,"roaa":"1.46%","roe_avg":"11.49%","eps_diluted":1.43,"total_loans":5300000000,"total_assets":7100000000,"total_deposits":6000000000,"efficiency_ratio":"45.90%","net_income_q3_2025":23911000,"net_income_q3_2026":25890000,"noninterest_income":18648000,"net_income_ytd_2026":82705000,"net_interest_income":61056000,"net_interest_margin":"3.63%","noninterest_expense":36480000,"book_value_per_share":48.29,"provision_for_credit_losses":9171000,"dividends_declared_per_share":0.71,"net_charge_off_ratio_annualized":"0.50%"}},"namedEntities":{"people":[{"name":"Mark A. Gooch","role":"Chairman, President, and CEO"}],"products":[],"companies":[{"name":"Community Trust Bancorp, Inc.","ticker":"CTBI","relationship":"filer"}],"dollarAmounts":[{"amount":"$25.9 million","context":"Q3 2026 net income"},{"amount":"$29.6 million","context":"Q2 2026 net income"},{"amount":"$23.9 million","context":"Q3 2025 net income"},{"amount":"$82.7 million","context":"YTD 2026 net income"},{"amount":"$9.2 million","context":"Q3 2026 provision for credit losses"},{"amount":"$6.6 million","context":"Q3 2026 net loan charge-offs"},{"amount":"$4.3 million","context":"charge-off on a single commercial relationship"},{"amount":"$0.71","context":"Q3 2026 dividends declared per share"},{"amount":"$7.1 billion","context":"total assets"},{"amount":"$5.3 billion","context":"total loans"},{"amount":"$6.0 billion","context":"deposits including repurchase agreements"}]},"materialImpact":{"score":3,"reasoning":"Quarterly earnings grew 8.4% YoY ($25.9M vs $23.9M, EPS $1.43 vs $1.33) with strong 13.8% annualized loan growth, but net income fell QoQ on a sharply higher credit provision ($9.2M vs $2.8M) and net charge-offs jumped to 0.50% of average loans."},"tickerRelevance":{"others":[],"primary":"CTBI"},"globalImportance":35,"audienceRelevance":25,"eventTypeSecondary":["dividend"],"importanceComponents":{"tickerTier":"small-cap-regional-bank","eventGravity":"regional-bank-earnings-with-credit-deterioration","eventComplexity":"mixed-quarter"}},"event_type":"earnings","event_type_secondary":["dividend"],"sentiment":"mixed","material_impact_score":3,"narrative":"Community Trust Bancorp reported Q3 2026 net income of $25.9 million, or $1.43 per diluted share, up from $23.9 million ($1.33) a year earlier but down from $29.6 million ($1.64) in Q2.\n\nNet interest income rose 9.9% YoY to $61.1 million and noninterest income climbed 16.9% to $18.6 million, while noninterest expense fell 0.7% YoY.\n\nCredit quality was the sore spot: the provision jumped to $9.2 million and net charge-offs hit an annualized 0.50% of average loans, driven largely by a $4.3 million charge-off on a commercial loan whose collateral sold well below expectations at auction.\n\nLoans grew 13.8% annualized to $5.3 billion and deposits rose to $6.0 billion; the quarterly dividend was raised to $0.71 per share from $0.53.","key_figures":{"eps":1.43,"revenue":"total revenue up $8.2 million vs prior year same quarter","customDimensions":{"npl":22500000,"roaa":"1.46%","roe_avg":"11.49%","eps_diluted":1.43,"total_loans":5300000000,"total_assets":7100000000,"total_deposits":6000000000,"efficiency_ratio":"45.90%","net_income_q3_2025":23911000,"net_income_q3_2026":25890000,"noninterest_income":18648000,"net_income_ytd_2026":82705000,"net_interest_income":61056000,"net_interest_margin":"3.63%","noninterest_expense":36480000,"book_value_per_share":48.29,"provision_for_credit_losses":9171000,"dividends_declared_per_share":0.71,"net_charge_off_ratio_annualized":"0.50%"}},"named_entities":{"people":[{"name":"Mark A. Gooch","role":"Chairman, President, and CEO"}],"products":[],"companies":[{"name":"Community Trust Bancorp, Inc.","ticker":"CTBI","relationship":"filer"}],"dollarAmounts":[{"amount":"$25.9 million","context":"Q3 2026 net income"},{"amount":"$29.6 million","context":"Q2 2026 net income"},{"amount":"$23.9 million","context":"Q3 2025 net income"},{"amount":"$82.7 million","context":"YTD 2026 net income"},{"amount":"$9.2 million","context":"Q3 2026 provision for credit losses"},{"amount":"$6.6 million","context":"Q3 2026 net loan charge-offs"},{"amount":"$4.3 million","context":"charge-off on a single commercial relationship"},{"amount":"$0.71","context":"Q3 2026 dividends declared per share"},{"amount":"$7.1 billion","context":"total assets"},{"amount":"$5.3 billion","context":"total loans"},{"amount":"$6.0 billion","context":"deposits including repurchase agreements"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-21T12:15:08.926Z","global_importance":35,"audience_relevance":25,"importance_components":{"tickerTier":"small-cap-regional-bank","eventGravity":"regional-bank-earnings-with-credit-deterioration","eventComplexity":"mixed-quarter"}},"durationMs":8467,"modelName":"glm-5.3-flashx"}}