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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2016
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | Note 2 – Stock-Based Compensation CTBI’s compensation expense related to stock option grants was $15 thousand and $10 thousand, respectively, for the three months ended September 30, 2016 and 2015, and $42 thousand and $29 thousand, respectively for the nine months ended September 30, 2016 and 2015. Restricted stock expense for the three months ended September 30, 2016 and 2015 was $97 thousand and $186 thousand, respectively, including $9 thousand and $20 thousand in dividends paid for each period. Restricted stock expense for the nine months ended September 30, 2016 and 2015 was $305 thousand and $554 thousand, respectively, including $28 thousand and $59 thousand in dividends. As of September 30, 2016, there was a total of $0.2 million 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 3.5 years and a total of $0.7 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 2.8 years. There were 18,069 and 10,582 shares of restricted stock granted during the nine months ended September 30, 2016 and 2015, respectively. No shares of restricted stock were granted during the three months ended September 30, 2016 and 2015. The restricted stock granted in 2016 was issued pursuant to the terms of CTBI’s 2015 Stock Ownership Incentive Plan. The restrictions on the restricted stock granted in 2016 will lapse ratably over four years. However, in the event of certain participant employee termination events occurring within 24 months of a change in control of CTBI or the death of the participant, the restrictions will lapse, and in the event of the participant’s disability, the restrictions will lapse on a pro rata basis. The Compensation Committee will have discretion to review and revise restrictions applicable to a participant’s restricted stock in the event of the participant’s retirement. The restricted stock granted in 2015 was issued pursuant to the terms of the 2006 Stock Ownership Incentive Plan. The restrictions on the restricted stock granted in 2015 lapse ratably over four years or in the event of a change in control of CTBI or the death of the participant. 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 10,000 and 20,000 stock options granted during the nine months ended September 30, 2016 and 2015. No stock options were granted during the three months ended September 30, 2016 and 2015. The fair value of stock options granted during the nine months ended September 30, 2016 and 2015 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 |
|  | 2016 |  |  | 2015 |
Expected dividend yield |  |  | 3.72 | % |  |  | 3.72 | %
Risk-free interest rate |  |  | 1.45 | % |  |  | 1.54 | %
Expected volatility |  |  | 30.77 | % |  |  | 30.77 | %
Expected term (in years) |  |  | 7.0 |  |  |  | 7.0 |
Weighted average fair value of options |  | $ | 6.80 |  |  | $ | 6.60 |

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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