PIKEVILLE, Ky. (Oct. 5, 2012) – Jean R. Hale, chairman, president and CEO of Community Trust Bancorp Inc. has been honored by American Banker magazine as one of the nation’s “25 Most Powerful Women in Banking.”
The 10th annual ranking is published online at AmericanBanker.com/women-in-banking and is featured in the October 2012 issue of American Banker Magazine, a business management magazine that tackles all issues relevant to banks and their competitive standing in the financial services marketplace.
The award for this accomplishment will be formally presented to Hale at an Oct. 16 event. The dinner and awards ceremony at the Waldorf Astoria in New York City will be hosted by American Banker and SourceMedia, featuring keynote speaker Mika Brzezinski, co-host of MSNBC’s “Morning Joe” and the author of “Knowing Your Value: Women, Money and Getting What You’re Worth.” The evening also will honor Julie Williams, who recently stepped down from the Office of the Comptroller of the Currency, and Lynn Carter, the retired president of Capital One Bank, both of whom will receive Lifetime Achievement Awards.
American Banker noted Ms. Hale’s accomplishments:
– Runs a $3.6 billion-asset firm headquartered in Pikeville, Ky., with 81 branches in three states:Kentucky, West Virginia and Tennessee
– Improved efficiency ratio to 54.6 percent at the bank unit as of midyear, from 59.6 percent a year earlier, partly through renegotiating contracts with technology providers and controlling expenses such as legal fees
– Increased net income 31.9 percent in the first half, to $24.1 million, from $18.3 million in the same period a year earlier, and reduced nonperforming loans to 1.39 percent of total loans, well below the average for bank holding companies with assets of $3 billion to $10 billion
– Board Chair of the Kentucky Economic Development Finance Authority; also serves on the board of the state Economic Development Partnership and Commonwealth Seed Capital.
“I am both honored and humbled to have received this recognition from American Banker,” said Hale, who has been with Community Trust Bancorp, Inc. for more than 43 years. “The success of any company is not in just having a business plan, but the successful execution of that plan. That is made possible by the dedicated efforts of the more than 1,000 employees of Community Trust with whom I am proud to work.”
Hale exemplifies the opportunities that are available to employees who start with a small company and grow with the company. She has participated in the growth of the Corporation from $18 million in assets to $3.6 billion in assets. Hale assumed her current position as president and CEO of Community Trust Bancorp, Inc. in 1999 and added the position of Chairman of the Board in 2005. She also is the chairman of the board of the corporation’s two subsidiaries, Community Trust Bank, Inc. and Community Trust and Investment Company.
During her tenure, Hale has served in various capacities including president and CEO of the company’s bank subsidiary. She is very active in economic development and education initiatives. She serves on the boards of Commonwealth Seed Capital, ARH Foundation and the University of Pikeville. Previously, Hale served as chairman of the Kentucky Chamber of Commerce, chairman of the KCTCS Foundation Board and as director of the Cincinnati branch of the Federal Reserve Bank of Cleveland for six years. A native of Pike County, Ky., Hale is a graduate of the University of Pikeville and the Stonier Graduate School of Banking. She lives in Pikeville and has a son, daughter-in-law and two granddaughters residing in Nashville.