Community Trust Bancorp Inc. reported unaudited earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported net interest income of $34,591,000 against $33,090,000 a year ago. Net income before taxes was $18,274,000 against $15,796,000 a year ago. Net income was $15,814,000 against $11,277,000 a year ago. Basic and diluted earnings per share were $0.89 against $0.64 a year ago. Return on average assets was 1.55% against 1.15% a year ago. Return on average equity was 12.00% against 9.02% a year ago. Book value per share was $30.33 against $28.73 a year ago. Interest income was $40,580,000 against $36,768,000 a year ago.

Net loan charge-offs for the quarter ended March 31, 2018 were $1,908,000 compared to $1,449,000 a year ago.

With the current tax laws, the company expects effective income tax rate for the year 2018 to be within the 13% to 17% range.