Community Trust Bancorp Inc. of Pikeville, Ky., said its second-quarter earnings rose 9% from the same period last year, to $8.5 million.
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The $2.8 billion-asset company, which announced its earnings Wednesday, attributed the gain largely to the loans it added when it acquired the $94 million-asset Heritage Community Bank in Danville on June 10.
Community Trust's loan total rose 14.4%, to $2 billion. Its return on equity rose slightly, to 13.96% at the end of the quarter, but its return on assets dropped slightly to 1.21%.
