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Stock-Based Compensation
 9 Months Ended
Sep. 30, 2013
Stock-Based Compensation [Abstract]  
Stock-Based Compensation
Note 2 – Stock-Based Compensation
 
CTBI’s compensation expense related to stock option grants was $2 thousand and $20 thousand for the three months ended September 30, 2013 and 2012, respectively, and $7 thousand and $59 thousand for the nine months ended September 30, 2013 and 2012, respectively.  Restricted stock expense for the three months ended September 30, 2013 and 2012 was $161 thousand and $159 thousand, respectively, including $31 thousand in dividends paid for each period.  Restricted stock expense for the first nine months of 2013 and 2012 was $491 thousand and $475 thousand, respectively, including $93 thousand and $91 thousand, respectively, in dividends paid for each period.  As of September 30, 2013, there was a total of $13 thousand of unrecognized compensation expense related to unvested stock option awards that will be recognized as expense as the awards vest over a weighted average period of 1.5 years and a total of $1.0 million of unrecognized compensation expense related to restricted stock grants that will be recognized as expense as the awards vest over a weighted average period of 1.3 years.
 
There were no shares of restricted stock granted during the three months ended September 30, 2013 and 2012, and 10,822 shares and 331 shares of restricted stock granted during the nine months ended September 30, 2013 and 2012.  The restrictions on the restricted stock granted in 2013 and 2012 will lapse over four years.  However, in the event of a change in control of CTBI or the death of the participant, the restrictions will lapse.  In the event of the disability of the participant, the restrictions will lapse on a pro rata basis.  The Compensation Committee of the Board of Directors will have discretion to review and revise restrictions applicable to a participant’s restricted stock in the event of the participant’s retirement.  There were no options granted to purchase shares of CTBI common stock during the three months ended September 30, 2013 and 2012.  There were 1,500 options granted to purchase shares of CTBI common stock during the nine months ended September 30, 2013.  There were no options granted to purchase shares of CTBI common stock during the nine months ended September 30, 2012.
 
The fair values of options granted during the nine months ended September 30, 2013, were established at the date of grant using a Black-Scholes option pricing model with the weighted average assumptions as follows:

   
Nine Months Ended
 
   
September 30
 
   
2013
 
Expected dividend yield
  3.74%
Risk-free interest rate
  1.33%
Expected volatility
  39.11%
Expected term (in years)
  7.5 
Weighted average fair value of options
 $9.05