Community Trust Bancorp, Inc. (CTBI) posted second quarter net income of $12.23 million or $0.79 per share versus $8.97 million or $0.58 per share a year ago.
On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.66 per share. Analysts' estimates typically exclude special items.
Net interest income was down to $32.32 million from $32.88 million a year ago. Net interest income continues to be impacted by a change in the asset mix as quality loan demand remains soft and highly competitive and investment options have limited yield. Total noninterest income increased to $11.99 million from $10.59 million in the same quarter last year.
Analysts estimated revenues of $44.63 million.
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