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 ...

Financial Performance - Community Trust Bancorp, Inc. reported earnings of $20.3 million, or $1.14 per basic share, for Q2 2022, an increase from $19.7 million in Q1 2022 but a decrease from $23.9 million in Q2 2021[238]. - Net interest income for Q2 2022 was $40.8 million, up $0.8 million from the prior quarter and the same quarter last year, while noninterest income decreased by $1.0 million year-over-year to $14.5 million[238][244]. - Noninterest income for Q2 2022 was $14.5 million, a decrease of $0.5 million (3.1%) from the prior quarter and $1.0 million (6.6%) from the same quarter last year[253]. - Noninterest expense for Q2 2022 was $30.0 million, an increase of $0.6 million (2.1%) from the prior quarter and $0.5 million (1.6%) from the same quarter last year[255]. - The provision for credit losses for Q2 2022 was $0.1 million, compared to $0.9 million in Q1 2022 and a recovery of $4.3 million in Q2 2021[239]. Assets and Liabilities - Total consolidated assets as of June 30, 2022, were $5.4 billion, with total consolidated deposits of $4.7 billion and shareholders' equity of $632.1 million[235]. - The loan portfolio increased by $42.9 million, an annualized growth rate of 4.9%, during the quarter, and $149.6 million, or 8.9%, from December 31, 2021[240]. - Total assets as of June 30, 2022, were $5.4 billion, an increase of $4.2 million (annualized 0.3%) from March 31, 2022[256]. - Loans outstanding at June 30, 2022, were $3.6 billion, an increase of $42.9 million (annualized 4.9%) from March 31, 2022[256]. - Shareholders' equity at June 30, 2022, was $632.0 million, a decrease of $21.3 million (annualized 13.1%) from March 31, 2022, due to unrealized losses on the securities portfolio[257]. Credit Quality - Nonperforming loans slightly increased to $13.8 million at June 30, 2022, from $13.7 million at March 31, 2022, but decreased from $16.6 million at December 31, 2021[242]. - The provision for credit losses for Q2 2022 was $0.1 million, compared to $0.9 million in Q1 2022, and a recovery of $4.3 million in Q2 2021, with a reserve coverage of 305.9%[252]. - Net loan charge-offs were $42 thousand for Q2 2022, less than 0.01% of average loans annualized, compared to $0.3 million (0.04%) in Q1 2022[267]. - Total nonperforming loans slightly increased to $13.8 million at June 30, 2022, compared to $13.7 million at March 31, 2022, but decreased from $16.6 million at December 31, 2021[262]. Deposits and Funding - Deposits, including repurchase agreements, rose by $28.7 million, an annualized increase of 2.5%, during the quarter, and $96.3 million, or 4.2%, from December 31, 2021[243]. - Total deposits and repurchase agreements increased to $4,711,661 thousand in Q2 2022, a 0.6% increase compared to Q1 2022 and a 2.1% increase compared to YE 2021[260]. - Non-interest bearing deposits rose to $1,408,148 thousand, reflecting a 0.7% increase from Q1 2022 and a 5.8% increase from YE 2021[260]. Capital and Dividends - Shareholders' equity declined by $21.3 million, an annualized decrease of 13.1%, during the quarter due to unrealized losses on the securities portfolio[243]. - The Board of Directors declared a quarterly cash dividend of $0.44 per share, representing a 10% increase from the previous dividend of $0.40 per share[268]. - The annualized dividend yield to shareholders as of June 30, 2022, was 3.96%[257]. Interest Rate and Economic Impact - The Federal Open Market Committee raised the target federal funds rate three times in 2022, positively impacting the company's net interest margin[248]. - The net interest margin for Q2 2022 was 3.20%, a slight increase from 3.19% in Q1 2022 and 3.11% in Q2 2021[248]. - CTBI's financial results are significantly impacted by its ability to react to changes in interest rates, maintaining a balanced position between interest-sensitive assets and liabilities[280]. - Inflation affects the growth of assets in the banking industry, necessitating an increase in equity capital to maintain an appropriate equity-to-assets ratio[279]. Risk Management and Valuation - CTBI's allowance for credit losses (ACL) is based on ongoing assessments of loan collectability, considering historical credit loss experience and current economic conditions[289]. - The reserve for unfunded commitments is maintained to absorb estimated expected credit losses related to unfunded credit facilities[298]. - CTBI's methodology for determining the ACL requires significant management judgment, particularly in evaluating expected credit losses based on various risk factors[291]. - Fair value measurements significantly impact the carrying value of financial assets and liabilities, with potential material changes in consolidated financial statements[304]. - CTBI's fair value determination involves subjective estimates related to cash flows and discount rates, impacting the overall valuation process[302]. COVID-19 Response - CTBI has instituted programs to support customers and employees during the COVID-19 pandemic, including loan modifications and fee waivers[281]. Capital Adequacy - As of June 30, 2022, CTBI's Community Bank Leverage Ratio (CBLR) was 13.14%, while CTB's CBLR was 12.55%, indicating both are well-capitalized under applicable guidelines[277]. - The CBLR requirement was temporarily reduced to 8% in 2020, increased to 8.5% in 2021, and returned to 9% in 2022[277]. - CTBI has repurchased a total of 2,465,294 shares through its stock repurchase program since its inception[283].

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 ...

Financial Performance - Community Trust Bancorp, Inc. reported net income of $87.9 million, or $4.94 per basic share, for the year ended December 31, 2021, compared to $59.5 million, or $3.35 per basic share, for the year ended December 31, 2020, representing a 47.8% increase [159]. - Basic earnings per share for 2021 were $4.94, exceeding the goal range of $3.76 - $3.92 [158]. - The company aims for 2022 goals of net income between $74.1 million and $77.1 million, and basic earnings per share between $4.15 and $4.31 [158]. - Net income for the year ended December 31, 2021, was $87,939 thousand, representing an increase from the previous year's net income of $59,504 thousand [257]. - Basic earnings per share rose to $4.94, up from $3.35, reflecting an increase of approximately 47.4% [255]. Income and Expenses - Noninterest income for the year ended December 31, 2021, was $60.5 million, an increase of $5.9 million, or 10.8%, compared to the previous year [164]. - Total noninterest expense remained relatively flat at $119.3 million for the year ended December 31, 2021, with a slight increase in personnel expenses offset by decreases in taxes and legal fees [180]. - The company experienced a net recovery of loan losses of $0.1 million for the year ended December 31, 2021, compared to net charge-offs of $6.2 million for the previous year [162]. - The provision for credit losses for 2021 was a recovery of $6.4 million, compared to a provision of $16.0 million in 2020 [177]. Assets and Liabilities - Total consolidated assets at December 31, 2021, were $5.4 billion, with total consolidated deposits of $4.6 billion, reflecting a $243.4 million, or 5.6%, increase from December 31, 2020 [155][164]. - Total assets increased to $5,418,257, up from $5,139,141 in 2020, representing a growth of approximately 5.4% [252]. - Total liabilities increased to $4,720,055 from $4,484,276, representing a growth of about 5.3% [252]. - Shareholders' equity rose to $698.2 million, a 6.6% increase from $654.9 million at the end of 2020, with an annualized dividend yield of 3.67% [184]. Loans and Credit Quality - The loan portfolio decreased by $145.4 million, or 4.1%, from December 31, 2020, while loans excluding PPP loans increased by $59.9 million during the year [162]. - Nonperforming loans decreased by $10.0 million, or 37.4%, to $16.6 million at December 31, 2021 [163]. - The allowance for credit losses improved to $(41,756) from $(48,022), indicating a reduction in provisions by about 13.1% [252]. - Nonperforming assets to loans and foreclosed properties were 0.6% as of December 31, 2021, compared to 1.0% at the end of 2020, indicating an improvement in asset quality [193]. Investment and Securities - The investment portfolio increased by $457.9 million, or 45.8%, from December 31, 2020 [182]. - The total available-for-sale securities amounted to $1.461 billion, with a fair value of $1.455 billion as of December 31, 2021 [322]. - The percentage of total debt securities with unrealized losses rose significantly to 72.4% as of December 31, 2021, compared to 16.2% as of December 31, 2020 [329]. - The fair value adjustment in equity securities resulted in a gain of $218 million, contrasting with a loss of $(518) million in the previous year [258]. Capital Management - The company retained 68.2% of its earnings in 2021, up from 54.3% in 2020 [220]. - The stock repurchase program has repurchased a total of 2,465,294 shares, with 1,034,706 shares remaining under the current authorization [229]. - CTBI's community bank leverage ratio (CBLR) as of December 31, 2021 was 13.00%, indicating a strong capital position [222]. - The total capital surplus as of December 31, 2021, was $227,085 thousand, reflecting a slight increase from $225,507 thousand in 2020 [257]. Risk Management and Credit Losses - CTBI maintains an Allowance for Credit Losses (ACL) based on ongoing assessments, considering historical credit loss experience and current market conditions [236]. - The reserve for unfunded commitments is maintained to absorb estimated expected credit losses related to unfunded credit facilities [244]. - CTBI's expected credit loss models are based on historical credit loss experience and macroeconomic conditions, with forecasts considered reasonable for up to one year [241]. - The company utilizes an internal risk grading system for commercial credits, with loans of $1 million or greater subject to individual evaluation [282]. Tax and Regulatory Compliance - The effective income tax rate for 2021 was 21%, up from 15% in 2020, due to changes in Kentucky tax legislation [159]. - Income tax liabilities and assets are established based on current year taxes payable or refundable, involving estimates and assumptions [249]. - CTBI does not engage in material hedging or derivative activities, with interest rate sensitivity analyzed in the financial condition discussion [251].

Financial Performance - Community Trust Bancorp, Inc. reported third quarter 2021 earnings of $21.1 million, or $1.19 per basic share, compared to $23.9 million, or $1.35 per basic share in the previous quarter, and $17.4 million, or $0.98 per basic share in the same quarter last year [225]. - Noninterest income for the quarter was $14.4 million, a decrease of $1.1 million, or 7.3%, from the previous quarter and $0.5 million, or 3.5%, from the same quarter last year [232]. - Total noninterest expense for Q3 2021 was $30.3 million, an increase of $0.8 million, or 2.8%, from the prior quarter [246]. - Shareholders' equity increased to $691.6 million at September 30, 2021, up $7.6 million from June 30, 2021 [249]. - Cash dividends were $1.170 per share for the nine months ended September 30, 2021, compared to $1.145 per share for the same period in 2020 [264]. Income and Expenses - Net interest income for the third quarter 2021 was $42.0 million, an increase of $2.0 million, or 5.0%, from the previous quarter and $4.3 million, or 11.5%, from the same quarter last year [226]. - The net interest margin for the third quarter 2021 was 3.23%, an increase of 12 basis points from the previous quarter and 7 basis points from the same quarter last year [238]. - The average yield on earning assets was 3.52% for the nine months ended September 30, 2021, down from 3.99% in the same period last year, a decrease of 11.9% [236]. Loan Portfolio - The loan portfolio decreased by $50.3 million, an annualized 5.8%, during the quarter, but loans excluding PPP loans increased by $26.6 million [228]. - Total loans amounted to $3,398,229 thousand, reflecting a decrease of 4.4% compared to the prior year [251]. - Loans outstanding were $3.4 billion, a decrease of $50.3 million, or 5.8% annualized, from June 30, 2021 [247]. - The ratio of average loans to deposits was 73.1% for Q3 2021, down from 75.0% in Q2 2021 and 82.8% in Q3 2020 [241]. Credit Quality - The provision for credit losses showed a recovery of $0.2 million during the quarter, reflecting improved credit metrics [227]. - Nonperforming loans decreased to $18.7 million at September 30, 2021, down from $21.1 million at June 30, 2021, and $26.6 million from December 31, 2020 [230]. - Nonperforming loans were $18.7 million, or 0.55% of total loans, down from $21.1 million, or 0.61% at the end of the previous quarter [252]. - Net loan charge-offs for the quarter were $0.3 million, or 0.04% of average loans annualized, compared to a net recovery of $0.6 million in the prior quarter [258]. Assets and Deposits - Total consolidated assets as of September 30, 2021, were $5.4 billion, with total consolidated deposits of $4.6 billion [222]. - Total deposits and repurchase agreements were $4,588,258 thousand, a decrease of 2.3% from the previous quarter [251]. - The investment portfolio increased by $168.1 million, or 49.0% annualized, from June 30, 2021 [247]. - The total interest-bearing deposits and repurchase agreements were $3,270,100 thousand, a decrease of 4.0% from the previous quarter [251]. Capital and Liquidity - CTBI's community bank leverage ratio (CBLR) as of September 30, 2021, was 12.71%, indicating a strong capital position [267]. - As of September 30, 2021, CTBI had approximately $207.8 million in cash and cash equivalents and approximately $1.5 billion in securities available for liquidity needs, compared to $338.2 million and $997.3 million at December 31, 2020 [260]. - The reserve coverage for credit losses was 220.0% at September 30, 2021, compared to 197.2% at June 30, 2021 [242]. Risk Management - The company has a robust loan portfolio risk management process, including weekly and monthly reviews of delinquent loans [252]. - CTBI maintains an allowance for credit losses (ACL) to cover estimated credit losses on individually evaluated loans and the remainder of the loan and lease portfolio [290]. - The internal risk grading system evaluates commercial credits with outstanding bank share balances of $1 million or greater [291]. Market Conditions - A 200 basis point increase in the yield curve is estimated to increase net interest income by 3.94% over one year and 5.53% over two years [300]. - A 25 basis point decrease in the yield curve would decrease net interest income by an estimated 0.62% over one year and 1.49% over two years [300]. - Historical loss rates for loans are adjusted for significant factors reflecting current conditions, including delinquency trends and economic conditions [296]. Foreclosures and Properties - The level of foreclosed properties decreased to $4.3 million, down $1.5 million from the previous quarter [254]. - Sales of foreclosed properties for the nine months ended September 30, 2021, totaled $3.6 million, while new foreclosures totaled $0.9 million [254]. - Foreclosed properties are booked at the current fair market value less expected sales costs, with periodic appraisals typically conducted every 12 to 24 months [297].

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, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ | --- | --- | |-------------------------------------------------------------------------------------------------------------------------|-- ...

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, 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 61-0979818 ...

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, 2020 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, 2020 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 ...