Community Trust Bancorp (CTBI) has reported 2.80 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $11.28 million, or $0.64 a share in the quarter, compared with $11.60 million, or $0.66 a share for the same period last year. Revenue during the quarter went up marginally by 2.14 percent to $43.44 million from $42.53 million in the previous year period. Net interest income for the quarter dropped 0.70 percent over the prior year period to $33.09 million. Non-interest income for the quarter rose 5.54 percent over the last year period to $11.58 million.
Community Trust Bancorp has made provision of $1.23 million for loan losses during the quarter, down 30.37 percent from $1.76 million in the same period last year.
Net interest margin contracted 8 basis points to 3.68 percent in the quarter from 3.76 percent in the last year period. Efficiency ratio for the quarter deteriorated to 61.18 percent from 58.63 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.
Assets outpace liabilities growthTotal assets stood at $4,034.16 million as on Mar. 31, 2017, up 3.98 percent compared with $3,879.84 million on Mar. 31, 2016. On the other hand, total liabilities stood at $3,526.68 million as on Mar. 31, 2017, up 3.90 percent from $3,394.20 million on Mar. 31, 2016.
Loans outpace deposit growthNet loans stood at $2,934.15 million as on Mar. 31, 2017, up 2.85 percent compared with $2,852.96 million on Mar. 31, 2016. Deposits stood at $3,159.78 million as on Mar. 31, 2017, up 4.14 percent compared with $3,034.22 million on Mar. 31, 2016. Noninterest-bearing deposit liabilities were $804.94 million or 25.47 percent of total deposits on Mar. 31, 2017, compared with $757.83 million or 24.98 percent of total deposits on Mar. 31, 2016.
Investments stood at $792.74 million as on Mar. 31, 2017, up 10.48 percent or $75.21 million from year-ago. Shareholders equity stood at $507.48 million as on Mar. 31, 2017, up 4.50 percent or $21.85 million from year-ago.
Return on average assets moved down 5 basis points to 1.15 percent in the quarter from 1.20 percent in the last year period. At the same time, return on average equity decreased 61 basis points to 9.02 percent in the quarter from 9.63 percent in the last year period.
Tier-1 leverage ratio stood at 15.21 percent for the quarter, up from 14.84 percent for the previous year quarter. Book value per share was $28.73 for the quarter, up 3.83 percent or $1.06 compared to $27.67 for the same period last year.
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