Pikeville, Ky. – Community Trust Bancorp, Inc. has been recognized for the second consecutive year by Forbes magazine as one of “America’s 50 Most Trustworthy Financial Companies.” Community Trust was ranked second in the “Small Cap” category ($250 million to $1 billion).
The Forbes list includes publicly-traded North American banks and insurance companies.
“We are pleased and humbled that Community Trust has been recognized once again in this Forbes survey,” said Community Trust President and CEO Jean R. Hale. “Stewardship of our company’s shareholder assets is a fundamental responsibility which we strive to discharge through stringent corporate governance and accounting processes. Community Trust strongly believes in serving its constituents, its shareholders, its customers, its employees and its communities with the core values of fairness, respect and integrity. Our history of investment returns continues to demonstrate the viability of our stock as a long-term core value investment.”
For its list, Forbes reviewed the accounting and governance behaviors of more than 700 publicly-traded North American companies with market caps of $250 million or greater for the year ending March 2015. In assessing each company, factors including high-risk events, revenue and expense recognition methods, SEC actions, and bankruptcy risk were considered as indicators of a company’s credibility. These factors were used to develop ‘Aggressive Accounting and Governance Risk’ (AGR) numbers, the final composite by which organizations are scored. Companies appear on the list divided into categories by market cap size, along with their current AGR and average AGR over the past four quarters.
Community Trust Bancorp, Inc., with assets of $3.8 billion, is headquartered in Pikeville, Ky., and has 70 banking locations across eastern, northeastern, central, and south central Kentucky, six banking locations in southern West Virginia, four banking locations in Tennessee, four trust offices across Kentucky, and one trust office in Tennessee.