Community Trust reports record earnings

Community Trust Bancorp said Wednesday it earned $11.87 million, or 77 cents a share, during the first quarter of 2012.

The Pikeville-based bank company called it a record first quarter and noted earnings were up from $9.3 million in net income, or 61 cents a share, in the first quarter of 2011.

Among the improvements, the company said its loan loss provision declined dramatically to $1.16 million in the first quarter from $4.39 million in the same period a year ago.

The Pikeville-based company operates 70 banking locations in Kentucky, six in West Virginia and four in Tennessee.