Business

Community Trust earnings up during fourth quarter

Community Trust Bancorp announced Wednesday that it earned $9.9 million, or 64 cents per share, during the fourth quarter of 2011, up from $9.2 million, or 60 cents per share, during the fourth quarter of 2010.

Earnings throughout 2011 increased to $38.8 million, or $2.53 per share, from $33 million, or $2.16 per share, in 2010.

The Pikeville-based bank company said vandalism led it to suffer a decline of $3.2 million in the carrying value of two groups of foreclosed properties in the fourth quarter. Insurance claims are pending.

Loan charge-offs were $4.9 million in the fourth quarter, an increase from $3.4 million in the fourth quarter of 2010.

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