Business

Profits up at Community Trust

Community Trust Bancorp announced this week that its earnings rose during both the fourth quarter of 2012 and the year as a whole.

The Pikeville-based bank company earned $10.6 million, or 68 cents a share, during the fourth quarter. That's up from $9.9 million, or 64 cents a share, in the fourth quarter of 2011.

Earnings through 2012 increased to $44.9 million, or $2.89 a share, from $38.8 million, or $2.53 a share, in 2011.

The company's loan loss provision fell for both the quarter and year. In the fourth quarter, it was $2.95 million, down from $3.04 million in the fourth quarter of 2011. For the full year, it was $9.45 million, down from $13.26 million.

The Pikeville-based company operates 71 bank branches in Kentucky, six in West Virginia and four in Tennessee.

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