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Related Party Transactions

12 Months Ended

Dec. 31, 2011

7. Related Party Transactions

In the ordinary course of business, CTB has made extensions of credit and had transactions with certain directors and executive officers of CTBI or our subsidiaries, including their associates (as defined by the Securities and Exchange Commission). We believe such extensions of credit and transactions were made on substantially the same terms, including interest rate and collateral, as those prevailing at the same time for comparable transactions with other persons.

Activity for related party transactions during 2011 and 2010 is as follows:

(in thousands)	2011			2010
Related party extensions of credit, beginning of period	$	19,545		$	18,393
New loans		5,295			2,794
Repayments		(1,281	)		(2,065	)
Decrease due to changes in related parties		(699	)		423
Related party extensions of credit, end of period	$	22,860		$	19,545

The aggregate balances of related party deposits at December 31, 2011 and 2010 were $20.7 million and $16.8 million, respectively.

A director of CTBI is a shareholder in a law firm that provides services to CTBI and its subsidiaries. The total of those payments for legal services for the years ended December 31, 2011, 2010, and 2009 were $1.4 million, $1.1 million, and $1.1 million, respectively.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details