PIKEVILLE, Ky.--(BUSINESS WIRE)-- Jean R. Hale, Chairman, President, and CEO of Community Trust Bancorp, Inc. (NASDAQ: CTBI), has been honored by American Banker magazine as one of the nation’s “25 Most Powerful Women in Banking.” The tenth annual ranking is published online at AmericanBanker.com/women-in-banking and is featured in the October 2012 issue of American Banker Magazine.
The award for this accomplishment will be formally presented to Ms. Hale at an event to be held on October 16, 2012. 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.
The theme of this year’s 25 Most Powerful Women in Banking -- in recognition of the program’s 10th anniversary -- is “Impact.” The lead story takes a look at “How Women are Changing Everything,” drilling down into the influence they have had on The Future of Leadership, The Future of Work, and The Future of Customer Relationships.
American Banker noted Ms. Hale’s accomplishments:
* Runs a $3.6 billion-asset firm headquartered in Pikeville, Kentucky, with 81 branches in three states: Kentucky, West Virginia, and Tennessee
* Improved efficiency ratio to 54.6% at the bank unit as of midyear, from 59.6% a year earlier, partly through renegotiating contracts with technology providers and controlling expenses such as legal fees
* Increased net income 31.9% 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% 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 Ms. 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.”
Ms. Hale exemplifies the opportunities that are available to employees who start with a small company and grow with the company. Ms. Hale has been with Community Trust for 43 years and has participated in the growth of the Corporation from $18 million in assets to $3.6 billion in assets. Ms. 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 is also the Chairman of the Board of the Corporation’s two subsidiaries, Community Trust Bank, Inc. and Community Trust and Investment Company.
During her tenure with the corporation, Ms. Hale has served in various capacities including President & CEO of the company’s bank subsidiary. Ms. Hale is very active in economic development and education initiatives. Currently, Ms. Hale is Chairman of the Kentucky Economic Development and Finance Authority Board, a member of the Kentucky Economic Development Partnership Board and serves on the boards of Commonwealth Seed Capital, ARH Foundation and the University of Pikeville. Previously, Ms. 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, Kentucky, Ms. Hale is a graduate of the University of Pikeville and the Stonier Graduate School of Banking. Ms. Hale lives in Pikeville and has a son, daughter-in-law and two granddaughters residing in Nashville, Tennessee.
American Banker Magazine, the leading business management magazine, tackles all issues relevant to banks and their competitive standing in the financial services marketplace. Readers gain insight into how to maximize shareholder value; generate new and greater line-of-business revenues year over year; maximize institutional profitability; run more efficient operations firm-wide; pursue growth, organic and otherwise; and influence the U.S. and global economies.
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.
Community Trust Bancorp, Inc.
Jean R. Hale, 606-437-3294
Chairman, President & CEO
Source: Community Trust Bancorp, Inc.