Profile: Community Trust Bancorp Inc (CTBI.O)
30 Jun 2016
Community Trust Bancorp, Inc. (CTBI), incorporated on August 12, 1980, is a bank holding company. The Company operates in the community banking services segment. The Company owns a commercial bank and a 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., Pikeville, Kentucky (CTB) and the trust company is Community Trust and Investment Company in 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.
The Company's consumer and commercial community banking services include residential and commercial real estate loans; checking accounts; regular and term savings accounts and savings certificates; service securities brokerage services; consumer loans; debit cards; annuity and life insurance products; individual retirement accounts and Keogh plans; commercial loans; trust and wealth management services; commercial demand deposit accounts, and repurchase agreements. Its corporate subsidiaries act as trustees of personal trusts, as executors of estates, as trustees for employee benefit trusts, as paying agents for bond and stock issues, as investment agent, as depositories for securities, and as providers of service brokerage and insurance services.
The lending activities of CTB include making commercial loans, including construction, secured by real estate, equipment lease financing and other commercial loans; residential loans, including real estate construction, real estate mortgage and home equity, and consumer loans, including consumer direct and consumer indirect. It also includes lease-financing, lines of credit, revolving lines of credit, term loans and other specialized loans, including asset-based financing. Its total commercial loans amounted to approximately $14682.351 million; total residential loans amounted to approximately $859.074 million, and total consumer amounted to approximately $516.536 million. The Company's total loans amounted to approximately $2873.961 million.
The Company classifies its securities into held-to-maturity, trading or available-for-sale categories. Its portfolio of securities includes the United States Treasury securities, government agencies and government sponsored agency mortgage-backed securities; state and political subdivisions, and other securities. The Company's total securities available-for-sale with fair value amounted to approximately $594.93 million and securities held-to-maturity with fair value amounted to approximately $1.651 million.
Sources of Funds
The sources of funds include deposits and other borrowed funds. The deposits include non-interest bearing deposits, negotiable order of withdrawal (NOW) accounts, money market accounts, savings accounts, certificates of deposit of approximately $100,000 and other time deposits. Its total deposits amounted to approximately $2.956599 billion. The other borrowed funds include repurchase agreements and federal funds purchased; advances from Federal Home Loan Bank, and long-term debt. Its total other borrowed funds is approximately $333.253 million. Its total deposits and other borrowed funds is approximately $3.28 billion.
Community Trust Bancorp Inc
346 N Mayo Trl
PO Box 2947
PIKEVILLE KY 41502-2947