Profile: Community Trust Bancorp Inc (CTBI.O)
Community Trust Bancorp, Inc. (CTBI), incorporated on August 12, 1980, is a bank holding company. CTBI owns one commercial bank and one trust company serving small and mid-sized communities in eastern, northeastern, central, and south central Kentucky, southern West Virginia, and northeastern Tennessee. The commercial bank is Community Trust Bank, Inc. (the Bank), Pikeville, Kentucky and the trust company is Community Trust and Investment Company (the Trust), Lexington, Kentucky. Through its subsidiaries, CTBI engages in a range of commercial and personal banking and trust and wealth management activities, which include accepting time and demand deposits, making secured and unsecured loans to corporations, individuals and others, providing cash management services to corporate and individual customers, issuing letters of credit, renting safe deposit boxes, and providing funds transfer services. On January 21, 2011, LaFollette Bank merged into the Bank.
Community Trust Bank, Inc. is a state-chartered bank. The corporate subsidiaries act as trustees of personal trusts, as executors of estates, as trustees for employee benefit trusts, as registrars, transfer agents, and paying agents for bond and stock issues, as depositories for securities, and as providers of full service brokerage services.
The lending activities of the Bank include making commercial, construction, mortgage, and personal loans. Lease-financing, lines of credit, revolving lines of credit, term loans, and other specialized loans, including asset-based financing, are also provided. The loan portfolio includes commercial real estate loans services, other commercial loans, and construction and development loans. As of December 31, 2011, commercial real estate loans, including multi-family loans, accounted for approximately 36% of its total loan portfolio. As of December 31, 2011, other commercial loans accounted for approximately 15% of its total loan portfolio. As of December 31, 2011, construction and development loans accounted for approximately 7% of its total loan portfolio. As of December 31, 2011, consumer loans accounted for approximately 18% of its total loan portfolio. As of December 31, 2011, the Bank’s loans totaled $ 2556.548 million.
The Bank’s securities include held-to-maturity, trading, or available-for-sale categories. The securities available-for-sale includes the United States Treasury, government agencies, and government sponsored agencies; state and municipal obligations, and other securities. The securities held-to-maturity includes state and municipal obligations, and other securities. As of the December 31, 2011, the available-for-sale securities totaled $ 25.925 million. Excluding those holdings of the investment portfolio in the United States Treasury securities, government agencies, and government sponsored agencies, there were no securities of any one issuer that exceeded 10% of its shareholders equity as of December 31, 2011.
Sources of Funds
The sources of funds include deposits and other borrowed funds. The deposists include noninterest bearing deposits, negotiable order of withdrawal (NOW) accounts, money market accounts, savings accounts, certificates of deposit of $100,000 or more and certificates of deposit more than $100,000 and other time deposits. The other borrowed funds include repurchase agreements and federal funds purchased, advances from Federal Home Loan Bank and long-term debt. As of December 31, 2011, the Bank’s deposits totaled $ 2811.333 million. As of December 31, 2011, the Bank’s borrowed funds totaled $3113.384 million. As of December 31, 2011, CTBI had a $399.4 million FHLB borrowing capacity with $21.6 million in advances and $118.5 million in letters of credit used for public fund pledging leaving $259.3 million available for additional advances.
Community Trust Bancorp Inc
346 NORTH MAYO TRAIL,
P.O. Box 2947
PIKEVILLE KY 41502-2947