UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the fiscal year ended December 31, 2023 Or ☐ TR ANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the transition period from _____________ to _____________ Commission file number 001-31220 COMMUNITY TRUST BANCORP, INC. (Exact name of registrant as specified in i ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------|-------|----------------|------------------------|-------|-------|-------------------------|-------|--------------| | (in thousands) | | Amortized Cost | Gross Unrealized Gains | | | Gross Unrealized Losses | | Fair Value | | U.S. Treasury and government agencies | $ | 418,579 | $ | 212 | $ | (36,859) | $ | 381,932 | | State and political subdivisions | | 326,746 | | 32 | | (61,67 ...

When any secured commercial loan is considered uncollectable, whether past due or not, a current assessment of the value of the underlying collateral is made. If the balance of the loan exceeds the fair value of the collateral, the loan is placed on nonaccrual and the loan is charged down to the value of the collateral less estimated cost to sell. For commercial loans greater than $1 million that are categorized as individually evaluated based on the criteria listed above, a specific reserve is established ...

* A loan is considered nonperforming if it is 90 days or more past due and/or on nonaccrual. March 31, 2022 | --- | --- | --- | --- | --- | --- | |---------------------------------------------|-----------------------|-------|-----------------------------|-------|----------------------| | (in thousands) \nHotel/motel | Number of Loans \n1 | $ | Recorded Investment \n8,348 | $ | Specific Reserve \n0 | | Commercial real estate residential | 4 | | 7,119 | | 0 | | Commercial real estate nonresidential | 11 | | 1 ...

Noninterest Expense - Noninterest expense for 2022 increased by $1.8 million (1.5%) compared to 2021, driven by a $1.4 million accrual for customer refunds and increases in data processing ($0.9 million), loan-related expenses ($0.6 million), and contributions ($0.4 million), partially offset by a $1.6 million decrease in personnel expense[101] - Personnel expense increased by $1.8 million in salaries but was offset by decreases of $1.5 million in bonuses and $1.9 million in post-retirement benefits[101] - Data processing expense increased by $0.9 million year over year in 2022[101] Shareholders' Equity and Securities - Shareholders' equity decreased by $70.2 million (10.0%) to $628.0 million at December 31, 2022, due to $129.2 million in unrealized losses on securities, compared to $4.8 million in 2021[102] - Net unrealized losses on securities were $129.2 million at December 31, 2022, compared to $4.8 million at December 31, 2021[102] - CTBI's total liabilities and shareholders' equity were $5,438,696 at December 31, 2022, compared to $5,387,241 in 2021[96] Loan Portfolio Composition - Approximately 65% of the loan portfolio is secured by real estate, with 40% consisting of commercial real estate loans as of December 31, 2022[59] - Commercial real estate residential loans comprised approximately 10% of the total loan portfolio as of December 31, 2022[57] Dividends and Shareholder Returns - CTBI's annualized dividend yield to shareholders was 3.83% as of December 31, 2022[102] - The ESOP owned 734,677 shares of CTBI's common stock at December 31, 2022, with contributions of $1.7 million for the year[196] Stock Ownership and Incentive Plans - CTBI has 550,000 shares authorized under the 2015 Stock Ownership Incentive Plan, with 400,221 shares available for future issuance as of December 31, 2022[198] - 20,000 stock options are outstanding with a weighted average exercise price of $32.27[198] - The maximum number of restricted stock shares that may be granted is 550,000, with a maximum of 75,000 shares per participant annually[198] - No performance units payable in stock were issued as of December 31, 2022, with a maximum payment of $1,000,000 per participant annually[198] - No Stock Appreciation Rights (SARs) have been issued, with a maximum of 100,000 shares per participant annually[198] Credit Losses and Allowances - CTBI maintains an Allowance for Credit Losses (ACL) to absorb expected credit losses over the remaining contractual terms of loans[202] - The ACL determination involves significant management judgment and includes collective and specific allowances for loans[203] Goodwill and Fair Value Measurements - CTBI evaluates qualitative factors to assess goodwill impairment, including economic conditions and financial performance[207] - Fair value measurements significantly impact the carrying value of certain financial assets and liabilities, with detailed information in note 16[208]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission file number 001-31220 COMMUNITY TRUST BANCORP, INC. (Exact name of registrant as specified in its charter) Kentucky 61-0979 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission file number 001-31220 COMMUNITY TRUST BANCORP, INC. (Exact name of registrant as specified in its charter) Kentucky 61-0979818 ( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission file number 001-31220 COMMUNITY TRUST BANCORP, INC. (Exact name of registrant as specified in its charter) Kentucky 61-0979818 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the fiscal year ended December 31, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the transition period from _____________ to _____________ Commission file number 001-31220 COMMUNITY TRUST BANCORP, INC. (Exact name of registrant as specified in it ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission file number 001-31220 COMMUNITY TRUST BANCORP, INC. (Exact name of registrant as specified in its charter) Kentucky 61-0979 ...