Community Trust Bancorp Q2 2024 EPS $1.09 flat YoY; loan growth 9.7% annualized, NPLs up

COMMUNITY TRUST BANCORP INC /KY/

2024-Q2 EPS reported $2.13

Net income $19.5M ($1.09 EPS) vs $18.7M ($1.04) Q1 2024 and $19.4M ($1.09) Q2 2023; essentially flat YoY.
Net interest income $45.7M, up 4.8% QoQ and 6.0% YoY; NIM (tax-eq) improved to 3.38% (+15 bps QoQ).
Loans grew $100.1M (annualized 9.7%) from March 31 to $4.26B; deposits decreased $57.6M (annualized -4.6%).
Nonperforming loans rose to $19.8M from $15.9M Q1 and $11.7M a year ago; provision for credit losses $3.0M, up $0.3M QoQ.
Dividend declared $0.46/share, unchanged QoQ but up from $0.44 YoY; annualized dividend yield 4.21%.

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