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Loans (Tables)

6 Months Ended

Jun. 30, 2014

Loans [Abstract]

Summary of major classification of loans net of unearned income and deferred loan origination cost

Major classifications of loans, net of unearned income, deferred loan origination costs, and net premiums on acquired loans, are summarized as follows:

(in thousands)		June 30 2014				December 31 2013
Commercial construction		$	113,420			$	110,779
Commercial secured by real estate			905,996				872,542
Equipment lease financing			7,928				8,840
Commercial other			354,944				374,881
Real estate construction			61,184				56,075
Real estate mortgage			698,403				697,601
Home equity			87,279				84,880
Consumer direct			119,610				122,215
Consumer indirect			283,845				287,541
Total loans		$	2,632,609			$	2,615,354

Nonaccrual loans segregated by class of loans

Nonaccrual loans segregated by class of loans were as follows:

(in thousands)		June 30 2014				December 31 2013
Commercial:
Commercial construction		$	4,668			$	4,519
Commercial secured by real estate			12,568				6,576
Commercial other			2,563				2,801
Residential:
Real estate construction			162				481
Real estate mortgage			5,338				5,152
Home equity			426				429
Total nonaccrual loans		$	25,725			$	19,958

Bank's loan portfolio aging analysis, segregated by class

The following tables present CTBI’s loan portfolio aging analysis, segregated by class, as of June 30, 2014 and December 31, 2013:

		June 30, 2014
(in thousands)		30-59 Days Past Due				60-89 Days Past Due				90+ Days Past Due				Total Past Due				Current				Total Loans				90+ and Accruing*
Commercial:
Commercial construction		$	30			$	0			$	6,088			$	6,118			$	107,302			$	113,420			$	1,420
Commercial secured by real estate			7,323				2,694				15,885				25,902				880,094				905,996				4,018
Equipment lease financing			0				0				0				0				7,928				7,928				0
Commercial other			1,236				742				7,700				9,678				345,266				354,944				5,404
Residential:
Real estate construction			150				75				704				929				60,255				61,184				542
Real estate mortgage			1,074				4,211				11,184				16,469				681,934				698,403				6,428
Home equity			533				142				934				1,609				85,670				87,279				572
Consumer:
Consumer direct			1,250				247				79				1,576				118,034				119,610				79
Consumer indirect			2,262				543				344				3,149				280,696				283,845				344
Total		$	13,858			$	8,654			$	42,918			$	65,430			$	2,567,179			$	2,632,609			$	18,807

		December 31, 2013
(in thousands)		30-59 Days Past Due				60-89 Days Past Due				90+ Days Past Due				Total Past Due				Current				Total Loans				90+ and Accruing*
Commercial:
Commercial construction		$	250			$	166			$	6,012			$	6,428			$	104,351			$	110,779			$	1,673
Commercial secured by real estate			3,703				1,982				16,660				22,345				850,197				872,542				12,403
Equipment lease financing			0				0				0				0				8,840				8,840				0
Commercial other			344				422				6,156				6,922				367,959				374,881				3,723
Residential:
Real estate construction			81				383				694				1,158				54,917				56,075				213
Real estate mortgage			1,274				4,419				9,346				15,039				682,562				697,601				4,847
Home equity			786				330				737				1,853				83,027				84,880				324
Consumer:
Consumer direct			1,063				291				119				1,473				120,742				122,215				119
Consumer indirect			2,750				668				297				3,715				283,826				287,541				297
Total		$	10,251			$	8,661			$	40,021			$	58,933			$	2,556,421			$	2,615,354			$	23,599

Credit risk profile of the bank's commercial loan portfolio based on rating category and payment activity, segregated by class of loans

The following tables present the credit risk profile of CTBI’s commercial loan portfolio based on rating category and payment activity, segregated by class of loans, as of June 30, 2014 and December 31, 2013:

(in thousands)		Commercial  Construction				Commercial  Secured by Real  Estate				Equipment  Leases				Commercial Other				Total
June 30, 2014
Pass		$	92,911			$	783,366			$	7,928			$	305,702			$	1,189,907
Watch			9,179				73,612				0				31,711				114,502
OAEM			1,106				11,007				0				1,088				13,201
Substandard			5,705				26,476				0				14,296				46,477
Doubtful			4,519				11,535				0				2,147				18,201
Total		$	113,420			$	905,996			$	7,928			$	354,944			$	1,382,288
December 31, 2013
Pass		$	85,699			$	746,202			$	8,840			$	321,819			$	1,162,559
Watch			13,519				77,561				0				32,800				123,880
OAEM			0				6,639				0				6,200				12,839
Substandard			7,208				37,334				0				11,772				56,314
Doubtful			4,353				4,806				0				2,291				11,450
Total		$	110,779			$	872,542			$	8,840			$	374,881			$	1,367,042

Credit risk profile of residential real estate and consumer loan portfolio based on performing and nonperforming status segregated by class

The following tables present the credit risk profile of the CTBI’s residential real estate and consumer loan portfolios based on performing or nonperforming status, segregated by class, as of June 30, 2014 and December 31, 2013:

(in thousands)		Real Estate Construction				Real Estate  Mortgage				Home Equity				Consumer Direct				Consumer Indirect				Total
June 30, 2014
Performing		$	60,480			$	686,637			$	86,281			$	119,531			$	283,501			$	1,236,430
Nonperforming (1)			704				11,766				998				79				344				13,891
Total		$	61,184			$	698,403			$	87,279			$	119,610			$	283,845			$	1,250,321
December 31, 2013
Performing		$	55,381			$	687,602			$	84,127			$	122,096			$	287,244			$	1,236,450
Nonperforming (1)			694				9,999				753				119				297				11,862
Total		$	56,075			$	697,601			$	84,880			$	122,215			$	287,541			$	1,248,312

(1)  A loan is considered nonperforming if it is 90 days or more past due and/or on nonaccrual.

Impaired loans, average investment in impaired loans, and interest income recognized on impaired loans

The following table presents impaired loans, the average investment in impaired loans, and interest income recognized on impaired loans for the periods ended June 30, 2014, December 31, 2013, and June 30, 2013:

		June 30, 2014
(in thousands)		Recorded  Balance				Unpaid Contractual Principal Balance				Specific  Allowance
Loans without a specific valuation allowance:
Commercial construction		$	5,270			$	5,271			$	0
Commercial secured by real estate			33,504				34,523				0
Commercial other			16,947				18,527				0
Real estate mortgage			1,865				1,865				0
Loans with a specific valuation allowance:
Commercial construction			4,285				4,285				734
Commercial secured by real estate			3,968				4,272				1,077
Commercial other			339				463				84
Totals:
Commercial construction			9,555				9,556				734
Commercial secured by real estate			37,472				38,795				1,077
Commercial other			17,286				18,990				84
Real estate mortgage			1,865				1,865				0
Total		$	66,178			$	69,206			$	1,895

		Three Months Ended								Six Months Ended
		June 30, 2014								June 30, 2014
(in thousands)		Average Investment in Impaired Loans				*Interest Income Recognized				Average Investment in Impaired Loans				*Interest Income Recognized
Loans without a specific valuation allowance:
Commercial construction		$	5,291			$	78			$	5,366			$	128
Commercial secured by real estate			33,687				332				35,051				597
Commercial other			17,362				257				15,843				371
Real estate mortgage			1,866				22				1,445				32
Loans with a specific valuation allowance:
Commercial construction			4,285				0				4,299				0
Commercial secured by real estate			3,973				0				4,330				4
Commercial other			353				0				396				0
Totals:
Commercial construction			9,576				78				9,665				128
Commercial secured by real estate			37,660				332				39,381				601
Commercial other			17,715				257				16,239				371
Real estate mortgage			1,866				22				1,445				32
Total		$	66,817			$	689			$	66,730			$	1,132

		December 31, 2013
(in thousands)		Recorded Balance				Unpaid Contractual Principal Balance				Specific Allowance				Average Investment in Impaired Loans				*Interest Income Recognized
Loans without a specific valuation allowance:
Commercial construction		$	5,457			$	5,458			$	0			$	5,595			$	240
Commercial secured by real estate			35,258				36,173				0				32,472				1,231
Commercial other			14,839				16,435				0				15,396				568
Real estate mortgage			1,024				1,024				0				934				43
Loans with a specific valuation allowance:
Commercial construction			4,353				4,359				1,189				4,935				0
Commercial secured by real estate			4,039				4,326				1,005				5,033				1
Commercial other			330				453				102				525				0
Totals:
Commercial construction			9,810				9,817				1,189				10,530				240
Commercial secured by real estate			39,297				40,499				1,005				37,505				1,232
Commercial other			15,169				16,888				102				15,921				568
Real estate mortgage			1,024				1,024				0				934				43
Total		$	65,300			$	68,228			$	2,296			$	64,890			$	2,083

		June 30, 2013
(in thousands)		Recorded Balance				Unpaid Contractual Principal Balance				Specific Allowance
Loans without a specific valuation allowance:
Commercial construction		$	5,921			$	6,498			$	0
Commercial secured by real estate			29,232				30,155				0
Commercial other			16,036				19,760				0
Real estate mortgage			1,027				1,027				0
Loans with a specific valuation allowance:
Commercial construction			4,655				5,511				1,890
Commercial secured by real estate			6,194				6,448				1,866
Commercial other			353				477				83
Totals:
Commercial construction			10,576				12,009				1,890
Commercial secured by real estate			35,426				36,603				1,866
Commercial other			16,389				20,237				83
Real estate mortgage			1,027				1,027				0
Total		$	63,418			$	69,876			$	3,839

		Three Months Ended								Six Months Ended
		June 30, 2013								June 30, 2013
(in thousands)		Average Investment in Impaired Loans				*Interest Income Recognized				Average Investment in Impaired Loans				*Interest Income Recognized
Loans without a specific valuation allowance:
Commercial construction		$	6,043			$	53			$	5,634			$	127
Commercial secured by real estate			29,422				236				31,665				533
Commercial other			15,825				151				15,630				305
Real estate mortgage			1,025				17				842				24
Loans with a specific valuation allowance:
Commercial construction			4,656				0				5,366				0
Commercial secured by real estate			6,298				0				5,232				0
Commercial other			379				0				624				0
Totals:
Commercial construction			10,699				53				11,000				127
Commercial secured by real estate			35,720				236				36,897				533
Commercial other			16,204				151				16,254				305
Real estate mortgage			1,025				17				842				24
Total		$	63,648			$	457			$	64,993			$	989

*Cash basis interest is substantially the same as interest income recognized.

Troubled debt restructuring

Presented below, segregated by class of loans, are troubled debt restructurings that occurred during the three and six months ended June 30, 2014 and 2013 and the year ended December 31, 2013:

		Three Months Ended June 30, 2014
(in thousands)		Number of Loans				Term Modification				Rate Modification				Combination				Post-Modification Outstanding Balance
Commercial:
Commercial secured by real estate			1			$	106			$	0			$	0			$	106
Commercial other			1				20				0				0				20
Residential:
Real estate mortgage			2				0				0				849				849
Total troubled debt restructurings			4			$	126			$	0			$	849			$	975

		Six Months Ended June 30, 2014
(in thousands)		Number of Loans				Term Modification				Rate Modification				Combination				Post-Modification Outstanding Balance
Commercial:
Commercial secured by real estate			3			$	231			$	0			$	0			$	231
Commercial other			3				61				0				0				61
Residential:
Real estate mortgage			2				0				0				849				849
Total troubled debt restructurings			8			$	292			$	0			$	849			$	1,141

		Three Months Ended June 30, 2013
(in thousands)		Number of Loans				Term Modification				Rate Modification				Combination				Post-Modification Outstanding Balance
Commercial:
Commercial construction			3			$	493			$	0			$	0			$	493
Commercial secured by real estate			15				662				0				0				662
Commercial other			13				872				0				0				872
Residential:
Real estate mortgage			1				373				0				0				373
Total troubled debt restructurings			32			$	2,400			$	0			$	0			$	2,400

		Six Months Ended June 30, 2013
(in thousands)		Number of Loans				Term Modification				Rate Modification				Combination				Post-Modification Outstanding Balance
Commercial:
Commercial construction			6			$	2,603			$	0			$	0			$	2,603
Commercial secured by real estate			20				1,267				0				0				1,267
Commercial other			22				6,365				0				92				6,457
Residential:
Real estate mortgage			1				373				0				0				373
Total troubled debt restructurings			49			$	10,608			$	0			$	92			$	10,700

		Year Ended December 31, 2013
(in thousands)		Number of Loans				Term Modification				Rate Modification				Combination				Post-Modification Outstanding Balance
Commercial:
Commercial construction			6			$	2,603			$	0			$	0			$	2,603
Commercial secured by real estate			27				2,568				0				2,920				5,488
Commercial other			30				6,471				0				152				6,623
Residential:
Real estate mortgage			1				373				0				0				373
Total troubled debt restructurings			64			$	12,015			$	0			$	3,072			$	15,087

Summary of defaulted restructured loans

Presented below, segregated by class of loans, are loans that were modified as troubled debt restructurings within the past twelve months which have subsequently defaulted.  CTBI generally considers a loan in default when it is 90 days or more past due or transferred to nonaccrual.

(in thousands)		Three Months Ended June 30, 2014								Six Months Ended June 30, 2014
		Number of Loans				Recorded Balance				Number of Loans				Recorded Balance
Commercial:
Commercial other			0			$	0				2			$	34
Residential:
Real estate mortgage			1				581				1				581
Total defaulted restructured loans			1			$	581				3			$	615

(in thousands)		Three Months Ended June 30, 2013								Six Months Ended June 30, 2013
		Number of Loans				Recorded Balance				Number of Loans				Recorded Balance
Commercial:
Commercial construction			1			$	831				3			$	1,159
Commercial secured by real estate			1				1,229				3				1,891
Commercial other			5				2,061				6				2,073
Total defaulted restructured loans			7			$	4,121				12			$	5,123

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