Community Trust Bancorp, Inc. Announces an Increase in Its Stock Repurchase Program.Business Editors PIKEVILLE, Ky.--(BUSINESS WIRE)--May 13, 2003 Community Trust Bancorp, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CTBI CTBI Churches Together in Britain and Ireland ) announced today that its Board of Directors has approved an increase in its stock repurchase program pursuant to which the Corporation is authorized to purchase up to an additional 1,000,000 shares of its outstanding common stock. The Corporation's stock repurchase program began in December 1998 with the authorization to acquire up to 500,000 shares and was increased by an additional 1,000,000 shares in July 2000. As of May 9, 2003, the Corporation has repurchased 1,458,546 shares through this program. The increase in the repurchase program is effective immediately. Under the program, the Corporation will purchase shares from time to time both in the open market and in private transactions, depending on market prices and other considerations. Jean R. Hale, Vice Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated "We believe that investing in the Corporation's common stock represents an attractive investment and a good use of the Corporation's funds." Community Trust Bancorp, Inc., with assets of $2.5 billion, is headquartered in Pikeville, Kentucky and has 69 banking locations across eastern, northern, central, and south central Kentucky South Central Kentucky is a cultural region of 22 Kentucky counties located roughly between I-65 in the Bowling Green area and I-75 around the London area, but within three counties of the Tennessee border and south of the "Golden Triangle" (the areas around Louisville, Lexington, and 5 banking locations in southern West Virginia Southern West Virginia is a culturally and geographically distinct region in the U.S. state of West Virginia. Generally considered the heart of Appalachia, Southern West Virginia is known for its coal mining heritage and Southern affinity. . |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion