Community Trust Bancorp Inc Review 2019: Community Trust Bank was founded in 1903 in Kentucky. In over 115 years it has spread through Kentucky, West Virginia, and Tennessee.
The company provides commercial and personal banking services to small and mid-sized communities. The bank mainly engages in lending, investment, and funding. The company has 89 branches in total.
Community Trust Bancorp Inc Review 2019
Deposits – The company accepts time deposits and demand deposits. They also provide Keogh plans and savings certificates. Checking and savings accounts are provided to people who agree to the terms. The company also provides advice and banking for individual retirement and money market accounts.
Loans – Community Bank Trust also offers loans for commercial and residential real estate, construction and development, mortgage. Personal loans, as well as consumer, and secured and unsecured loans are also offered. Lease-financing, lines of credit, revolving lines of credit, and term loans, and asset-based financing are also a major part of the bank’s loan services.
Other services – The company also provides cash management services, rental safe deposit boxes, and funds transfer services. The bank issues letters of credit and acts as a trustee of personal trusts. The bank has also been appointed as executor of estates, trustee for employee benefit trusts on multiple occasions. Further, it offers total service for securities brokerage, and wealth management services too.
Growth – CTBI has grown consistently for the past few years. It has taken ample advantage of favorable market conditions. CTBI is working constantly toward increasing its reach through Tennessee and West Virginia. Its dividend pay-out has almost doubled over the last decade.
Consistent Dividend pay-out – The Community Trust Bancorp Inc. has not failed to pay a dividend for any year during the last decade. This is a rare sight in the banking industry. It has more than doubled its investor returns through dividends and stock splits over the years.
Acquisitions – Since incorporation, the company has acquired 9 banking companies. Eight out of them were based in Kentucky. Its largest acquisition was Woodford Bancorp Inc. in 1994. The company has grown through this simple strategy or acquiring or merging with companies having similar business strategies and nature.
Clients – Majority of the bank’s clients belong to small and mid-sized communities in Kentucky. The local businesses are also most of the times affiliated with the bank.
Stock price growth – Over the last decade, the stock price has grown from 25 dollars per share to 42 dollars per share. This increase in stock price is above and beyond the increase in dividend payout. The aggregate return to investors over the last 5 years is more than 35%.
The Community Trust Bancorp Inc. is a mid-sized bank holding company based out of Kentucky. It caters to small and medium-sized communities and services their various needs. CTBI has acquired multiple banking companies over the years.
The company has grown fastest in the last decade. It has a clean track record and also has a consistent dividend payout. Overall the Community Trust Bancorp Inc. is a good company to invest in.