Jean R. Hale, Chairman, President, and CEO of Community Trust Bancorp,
Inc. (NASDAQ: CTBI), announced today that Community Trust Bancorp, Inc.
has been recognized by Forbes magazine as one of “America's 50
Most Trustworthy Financial Companies.” Community Trust was ranked first
in the “Small Cap” category ($250 million to $1 billion).
The Forbes list, released on April 1, 2014, is based on
proprietary ratings provider and investment advisor GMI Ratings. The
list included publicly-traded North American bank and insurance
companies. According to James Kaplan, director of GMI Ratings, “In 2012
and 2013, governance and transparency has really improved.” To develop
lists of trustworthy organizations in different industries, GMI reviews
the accounting and governance behaviors of more than 8,000
publicly-traded companies in North America. In assessing each company,
GMI considers factors including high-risk events, revenue and expense
recognition methods, SEC actions, and bankruptcy risk as indicators of a
company’s credibility.
“We are pleased and humbled that Community Trust has been recognized in
this Forbes survey,” said Ms. 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.”
Community Trust Bancorp, Inc. has been a member of the NASDAQ Global
Select Market since its inception in 2006. The NASDAQ Global Select
Market has the highest initial listing standards of any exchange in the
world based on financial and liquidity requirements. Prior to 2006, CTBI
had been listed on the NASDAQ National Market. NASDAQ recognized CTBI’s
inclusion in the 50 Most Trustworthy Financial Companies with the
announcement on their tower at Times Square in New York City.
The full Forbes article may be found online:
http://www.forbes.com/sites/kathryndill/2014/04/01/americas-50-most-trustworthy-financial-companies/
Founded in 1917, Forbes magazine, along with forbes.com, is an
authoritative source of news and information on business, investing,
technology, entrepreneurship, leadership and affluent lifestyles. Forbes
magazine, Forbes Asia and Forbes Europe attract a
global audience of more than 5 million readers. The Company also
publishes ForbesLife magazine, as well as 33 licensed local
editions around the world.
Community Trust Bancorp, Inc., with assets of $3.6 billion, is
headquartered in Pikeville, Kentucky and has 71 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.
Copyright Business Wire 2014