Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2012

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