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PIKEVILLE, Ky. - Community Trust Bancorp, Inc. (NASDAQ:CTBI), a regional banking institution with a market capitalization of approximately $966 million and a P/E ratio of 11.1, has appointed David L. Baird to its Board of Directors, according to a press release statement from the company.
Baird, a Pikeville native, is an attorney and shareholder at Baird & Baird, P.S.C. He holds a Bachelor of Science degree from Miami University’s Richard T. Farmer School of Business and a Juris Doctor from Northern Kentucky University’s Salmon P. Chase College of Law.
His legal practice focuses on mineral and environmental law, real property and contract litigation, business transactions, bankruptcy, and general practice. Baird is admitted to practice in all Kentucky courts, the U.S. District Courts in both Western and Eastern Kentucky districts, and the U.S. Court of Appeals for the Sixth Circuit.
Baird currently serves on several boards including Pikeville Medical Center, The Elliott Company, Hocker Developments, and the Pike County Regional Airport Board. He previously served on the Southeast Kentucky Chamber of Commerce board from 2014 to 2019, including as chairman in 2018. According to InvestingPro, Community Trust Bancorp maintains a "Good" financial health score and has raised its dividend for 30 consecutive years, currently offering a 3.6% yield.
Mark A. Gooch, Chairman, President and CEO of Community Trust Bancorp, stated that Baird’s experience and knowledge make him "a valuable addition to our Board."
Community Trust Bancorp has assets of $6.3 billion and operates 72 banking locations across Kentucky, six in southern West Virginia, three in Tennessee, and five trust offices across Kentucky and Tennessee. InvestingPro analysis suggests the stock is currently undervalued, with analysts recently revising earnings estimates upward for the upcoming period. Discover more insights and 6 additional ProTips about CTBI with an InvestingPro subscription.
In other recent news, Community Trust Bancorp announced changes to its board of directors following the retirement of Franklin H. Farris, Jr. Farris stepped down after reaching the company’s mandatory retirement age of 75, reducing the number of board members from ten to nine. He previously served as Chairman of the Audit and Asset Quality Committee. Following his departure, Eugenia Crittenden "Crit" Luallen was appointed as the new Chairman of the Audit and Asset Quality Committee. Luallen is currently Vice Chairman and lead independent director on the board. The company has confirmed that Luallen qualifies as an audit committee financial expert and meets the independence requirements outlined in Nasdaq listing standards. These developments were disclosed in a recent press release and SEC filing by Community Trust Bancorp.
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