Community Trust Bancorp Profit Falls

(RTTNews) - Community Trust Bancorp Inc. (CTBI) Wednesday reported fourth-quarter net income of $8.8 million or $0.55 per share, compared with $10.6 million or $0.68 per share last year.

On average, four analysts polled by Thomson Reuters estimated earnings of $0.77 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the quarter increased 0.7% to $34 million from $33.8 million in the prior year, due to a 2 basis points growth in net interest margin.

Non interest income for the quarter edged up to $12 million from $11.94 million last year.

Analysts expected total revenue of $46.3 million for the quarter.

Non interest expense was higher at $32 million, compared with $28 million a year ago.

Loan loss provision fell to $1.2 million from $3 million in the prior year.