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Employee Benefits (Tables) | 12 Months Ended
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Dec. 31, 2012
Employee Benefits [Abstract] |
Schedule of shares to be issued and remaining shares available for future issuance | CTBI currently maintains one active and one inactive incentive stock option plan covering key employees. The 2006 Stock Ownership Incentive Plan ("2006 Plan") was approved by the Board of Directors and the Shareholders in 2006. The 1998 Stock Option Plan ("1998 Plan") was approved by the Board of Directors and the Shareholders in 1998. The 1998 Plan was rendered inactive as of April 26, 2006. The 2006 Plan had 1,500,000 shares authorized, 1,245,189 of which were available at December 31, 2012 for future grants. In addition, any shares reserved for issuance under the 1998 Stock Option Plan ("1998 Plan") in excess of the number of shares as to which options or other benefits are awarded thereunder, plus any shares as to which options or other benefits granted under the 1998 Plan may lapse, expire, terminate or be canceled, shall also be reserved and available for issuance or reissuance under the 2006 Plan. As of December 31, 2012, the 1998 Plan had 1,046,831 shares authorized, 198,024 of which were transferred to the 2006 Plan. The total shares available for issuance under the 2006 Plan as of December 31, 2012 was 1,443,213. The following table provides detail of the number of shares to be issued upon exercise of outstanding stock-based awards and remaining shares available for future issuance under all of CTBI's equity compensation plans as of December 31, 2012:
Plan Category (shares in thousands) |  | Number of Shares to Be Issued Upon Exercise/Vesting |  |  | Weighted Average Price |  |  | Shares Available for Future Issuance |
Equity compensation plans approved by shareholders: |  |  |  |  |  |  |  |  |
Stock options |  | 326 |  |  | $32.64 |  |  | 1,443 (a) |
Restricted stock |  | (c) |  |  | (b) |  |  | (a) |
Performance units |  | (d) |  |  | (b) |  |  | (a) |
Stock appreciation rights ("SARs") |  | (e) |  |  | (b) |  |  | (a) |
Total |  |  |  |  |  |  |  | 1,443 |
(a) | Under the 2006 Plan, 1.5 million shares (plus any shares reserved for issuance under the 1998 Stock Option Plan) were authorized for issuance as nonqualified and incentive stock options, SARS, restricted stock and performance units. As of December 31, 2012, the above shares remained available for issuance.
(b) | Not applicable
(c) | The maximum number of shares of Restricted Stock that may be granted is 400,000 shares, and the maximum that may be granted to a participant during any calendar year is 40,000 shares.
(d) | No performance units had been issued as of December 31, 2012. The maximum payment that can be made pursuant to Performance Units granted to any one Participant in any calendar year shall be $250,000.
(e) | No SARS have been issued. The maximum number of shares with respect to which SARs may be granted to a Participant during any calendar year shall be 100,000 shares.
The following table details the shares available for future issuance under the 2006 Plan at December 31, 2012.
Plan Category |  | Shares Available for Future Issuance |
Shares available at January 1, 2012 |  | 1,442,719 |
1998 Plan forfeitures in 2012 |  | 100 |
2006 Plan restricted stock issuances in 2012 |  | (331 | )
2006 Plan forfeitures in 2012 |  | 725 |
Shares available for future issuance |  | 1,443,213 |
Schedule of weighted average assumptions used for estimating the grant-date fair value of each option grant | CTBI uses a Black-Scholes option pricing model with the following weighted average assumptions, which are evaluated and revised as necessary, in estimating the grant-date fair value of each option grant for the year end:
|  | 2012 |  |  | 2011 |  |  | 2010 |
Expected option life (in years) |  |  | -- |  |  |  | -- |  |  |  | 7.5 |
Expected volatility |  |  | -- |  |  |  | -- |  |  |  | 0.391 |
Expected dividend yield |  |  | -- |  |  |  | -- |  |  |  | 4.78 | %
Risk-free interest rate |  |  | -- |  |  |  | -- |  |  |  | 3.139 | %
Schedule of stock option activity | CTBI's stock option activity for the 2006 Plan for the years ended December 31, 2012, 2011, and 2010 is summarized as follows:
December 31 |  | 2012 |  |  | 2011 |  |  | 2010 |
|  | Options |  |  | Weighted Average Exercise Price |  |  | Options |  |  | Weighted Average Exercise Price |  |  | Options |  |  | Weighted Average Exercise Price |
Outstanding at beginning of year |  |  | 152,571 |  |  | $ | 34.57 |  |  |  | 177,125 |  |  | $ | 34.61 |  |  |  | 174,678 |  |  | $ | 34.85 |
Granted |  |  | 0 |  |  |  | -- |  |  |  | 0 |  |  |  | -- |  |  |  | 4,525 |  |  |  | 25.09 |
Exercised |  |  | (3,188 | ) |  |  | 28.51 |  |  |  | 0 |  |  |  | -- |  |  |  | 0 |  |  |  | -- |
Forfeited/expired |  |  | (725 | ) |  |  | 30.05 |  |  |  | (24,554 | ) |  |  | 34.84 |  |  |  | (2,078 | ) |  |  | 33.83 |
Outstanding at end of year |  |  | 148,658 |  |  | $ | 34.72 |  |  |  | 152,571 |  |  | $ | 34.57 |  |  |  | 177,125 |  |  | $ | 34.61 |
Exercisable at end of year |  |  | 102,323 |  |  | $ | 37.69 |  |  |  | 101,092 |  |  | $ | 37.81 |  |  |  | 90,962 |  |  | $ | 37.70 |
CTBI's stock option activity for the 1998 Plan for the years ended December 31, 2012, 2011, and 2010 is summarized as follows:
December 31 |  | 2012 |  |  | 2011 |  |  | 2010 |
|  | Options |  |  | Weighted Average Exercise Price |  |  | Options |  |  | Weighted Average Exercise Price |  |  | Options |  |  | Weighted Average Exercise Price |
Outstanding at beginning of year |  |  | 321,540 |  |  | $ | 26.85 |  |  |  | 371,077 |  |  | $ | 27.07 |  |  |  | 420,731 |  |  | $ | 25.64 |
Granted |  |  | 0 |  |  |  | -- |  |  |  | 0 |  |  |  | -- |  |  |  | 0 |  |  |  | -- |
Exercised |  |  | (143,914 | ) |  |  | 21.83 |  |  |  | (6,824 | ) |  |  | 19.63 |  |  |  | (48,730 | ) |  |  | 14.66 |
Forfeited/expired |  |  | (100 | ) |  |  | 32.44 |  |  |  | (42,713 | ) |  |  | 29.94 |  |  |  | (924 | ) |  |  | 32.44 |
Outstanding at end of year |  |  | 177,526 |  |  | $ | 30.89 |  |  |  | 321,540 |  |  | $ | 26.85 |  |  |  | 371,077 |  |  | $ | 27.07 |
Exercisable at end of year |  |  | 177,526 |  |  | $ | 30.89 |  |  |  | 321,540 |  |  | $ | 26.85 |  |  |  | 361,077 |  |  | $ | 26.92 |
Summary for nonvested shares | A summary of the status of CTBI's 2006 Plan for nonvested shares as of December 31, 2012, and changes during the year ended December 31, 2012, is presented as follows:
Nonvested Shares |  | Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested at January 1, 2012 |  |  | 51,479 |  |  | $ | 6.53 |
Granted |  |  | 0 |  |  |  | -- |
Vested |  |  | (4,894 | ) |  |  | 7.02 |
Forfeited |  |  | (250 | ) |  |  | 7.05 |
Nonvested at December 31, 2012 |  |  | 46,335 |  |  | $ | 6.48 |
Schedule of remaining life of options with weighted average price | The 2006 Plan had options with the following remaining lives at December 31, 2012:
2006 Option Plan |
Remaining Life |  | Outstanding Options |  |  | Weighted Average Price |
Four years |  |  | 89,746 |  |  | $ | 38.95 |
Five years |  |  | 46,700 |  |  |  | 28.32 |
Six years |  |  | 7,937 |  |  |  | 29.82 |
Seven years |  |  | 4,275 |  |  |  | 25.09 |
Total outstanding |  |  | 148,658 |  |  |  |  |
Weighted average price |  |  |  |  |  | $ | 34.72 |
The 1998 Plan had options with the following remaining lives at December 31, 2012:
1998 Option Plan |
Remaining Life |  | Outstanding Options |  |  | Weighted Average Price |
One year or less |  |  | 2,435 |  |  | $ | 20.99 |
Two years |  |  | 34,100 |  |  |  | 27.85 |
Three years |  |  | 57,849 |  |  |  | 30.88 |
Four years |  |  | 83,142 |  |  |  | 32.44 |
Total outstanding |  |  | 177,526 |  |  |  |  |
Weighted average price |  |  |  |  |  | $ | 30.89 |
Schedule of restricted stock activity | The following table shows restricted stock activity for the years ended December 31, 2012, 2011, and 2010:
December 31 |  | 2012 |  |  | 2011 |  |  | 2010 |
|  | Grants |  |  | Weighted Average Fair Value at Grant |  |  | Grants |  |  | Weighted Average Fair Value at Grant |  |  | Grants |  |  | Weighted Average Fair Value at Grant |
Outstanding at beginning of year |  |  | 96,543 |  |  | $ | 27.91 |  |  |  | 52,834 |  |  | $ | 26.10 |  |  |  | 16,786 |  |  | $ | 28.83 |
Granted |  |  | 331 |  |  |  | 30.92 |  |  |  | 45,542 |  |  |  | 30.09 |  |  |  | 44,996 |  |  |  | 25.09 |
Exercised |  |  | -- |  |  |  | -- |  |  |  | (1,617 | ) |  |  | 30.09 |  |  |  | (4,474 | ) |  |  | 26.14 |
Forfeited/expired |  |  | -- |  |  |  | -- |  |  |  | (216 | ) |  |  | 30.09 |  |  |  | (4,474 | ) |  |  | 26.14 |
Outstanding at end of year |  |  | 96,874 |  |  | $ | 27.92 |  |  |  | 96,543 |  |  | $ | 27.91 |  |  |  | 52,834 |  |  | $ | 26.10 |
Summary of intrinsic values of options exercised, exercisable, and outstanding | The following table shows the intrinsic values of options exercised, exercisable, and outstanding for the 2006 Plan for the years ended December 31, 2012, 2011, and 2010:
(in thousands) |  | 2012 |  |  | 2011 |  |  | 2010 |
Options exercised |  | $ | 22 |  |  | $ | 0 |  |  | $ | 0 |
Options exercisable |  |  | 88 |  |  |  | 43 |  |  |  | 0 |
Outstanding options |  |  | 388 |  |  |  | 345 |  |  |  | 0 |
The following table shows the intrinsic values of options exercised, exercisable, and outstanding for the 1998 Plan for the years ended December 31, 2012, 2011, and 2010:
(in thousands) |  | 2012 |  |  | 2011 |  |  | 2010 |
Options exercised |  | $ | 690 |  |  | $ | 27 |  |  | $ | 627 |
Options exercisable |  |  | 1,517 |  |  |  | 833 |  |  |  | 1,206 |
Outstanding options |  |  | 1,517 |  |  |  | 833 |  |  |  | 1,206 |
Schedule of unrecognized compensation cost related to nonvested awards, grant-date fair value of vested shares, and cash received from option exercises | The following table shows the unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the plans at December 31, 2012, 2011, and 2010 and the total grant-date fair value of shares vested, cash received from option exercises under all share-based payment arrangements, and the actual tax benefit realized for the tax deductions from option exercises of the share-based payment arrangements for the years ended December 31, 2012, 2011, and 2010.
(in thousands) |  | 2012 |  |  | 2011 |  |  | 2010 |
Unrecognized compensation cost of unvested share-based compensation arrangements granted under the plan at year-end |  | $ | 1,133 |  |  | $ | 1,729 |  |  | $ | 990 |
Grant date fair value of shares vested for the year |  |  | 34 |  |  |  | 284 |  |  |  | 719 |
Cash received from option exercises under all share-based payment arrangements for the year |  |  | 3,137 |  |  |  | 134 |  |  |  | 672 |
Tax benefit realized for the tax deductions from option exercises of the share-based payment arrangements for the year |  |  | 496 |  |  |  | 23 |  |  |  | 205 |

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