Profile: Community Trust Bancorp Inc (CTBI.OQ)
22 Mar 2019
Community Trust Bancorp, Inc., incorporated on August 12, 1980, is a bank holding company. The Company holds interests in a commercial bank, Community Trust Bank, Inc. (the Bank), and a trust company, Community Trust and Investment Company, serving small and mid-sized communities in eastern, northeastern, central and south central Kentucky; southern West Virginia, and northeastern Tennessee. Through its subsidiaries, the Company 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. 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 full-service brokerage and insurance services.
The Bank's loan portfolio includes commercial loans, such as construction loans, loans secured by real estate, equipment lease financing and commercial other loans; residential loans, such as real estate construction loans, real estate mortgages and home equity loans, and consumer loans, such as consumer direct loans and consumer indirect loans. As of December 31, 2016, the Bank's loan portfolio amounted to $2.94 billion.
The Company's investment portfolio includes its available-for-sale investment securities and held-to-maturity investment securities. As of December 31, 2016, the Company's available-for-sale investment securities included the United States Treasury, government agencies and government sponsored agency mortgage-backed securities; state and political subdivisions, and other securities. As of December 31, 2016, the Company's available-for-sale investment securities had a total fair value of $605.39 million. As of December 31, 2016, the Company's held-to-maturity investment securities included the United States Treasury, government agencies and government sponsored agency mortgage-backed securities, and state and political subdivisions. As of December 31, 2016, the Company's held-to-maturity investment securities had a total fair value of $0.87 million.
Sources of Funds
The Bank offers a range of deposit products to its customers. As of December 31, 2016, the Bank's deposits included noninterest bearing deposits, negotiable order of withdrawal (NOW) accounts, money market accounts, savings accounts and certificates of deposits. As of December 31, 2016, the Bank's other borrowed funds included repurchase agreements and federal funds purchased, advances from Federal Home Loan Bank and long-term debt. As of December 31, 2016, the Bank's total deposits and other borrowed funds amounted to $3.39 billion.
Community Trust Bancorp Inc
346 N Mayo Trl
PO Box 2947
PIKEVILLE KY 41502-2947