XML 32 R15.htm IDEA: XBRL DOCUMENT
v3.19.3

Repurchase Agreements | 9 Months Ended
--- | ---
Sep. 30, 2019
Repurchase Agreements [Abstract] |
Repurchase Agreements | Note 8 – Repurchase Agreements We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and provide additional funding to our balance sheet. Repurchase agreements are transactions whereby we offer to sell to a counterparty an undivided interest in an eligible security at an agreed upon purchase price, and which obligates CTBI to repurchase the security on an agreed upon date at an agreed upon repurchase price plus interest at an agreed upon rate. Securities sold under agreements to repurchase are recorded at the amount of cash received in connection with the transaction and are reflected in the accompanying consolidated balance sheets. We monitor collateral levels on a continuous basis and maintain records of each transaction specifically describing the applicable security and the counterparty’s fractional interest in that security, and we segregate the security from its general assets in accordance with regulations governing custodial holdings of securities. The primary risk with our repurchase agreements is market risk associated with the securities securing the transactions, as we may be required to provide additional collateral based on fair value changes of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents. The carrying value of investment securities available-for-sale pledged as collateral under repurchase agreements totaled $262.8 million and $285.2 million at September 30, 2019 and December 31, 2018, respectively. The remaining contractual maturity of the securities sold under agreements to repurchase by class of collateral pledged included in the accompanying consolidated balance sheets as of September 30, 2019 and December 31, 2018 is presented in the following tables:
|  | September 30, 2019 |
|  | Remaining Contractual Maturity of the Agreements |
(in thousands) |  | Overnight and Continuous |  |  | Up to 30 days |  |  | 30-90 days |  |  | Greater Than 90 days |  |  | Total |
Repurchase agreements and repurchase-to-maturity transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 15,873 |  |  | $ | 11,643 |  |  | $ | 0 |  |  | $ | 48,936 |  |  | $ | 76,452 |
State and political subdivisions |  |  | 51,888 |  |  |  | 2,691 |  |  |  | 0 |  |  |  | 9,951 |  |  |  | 64,530 |
U.S. government sponsored agency mortgage-backed securities |  |  | 35,765 |  |  |  | 16,666 |  |  |  | 0 |  |  |  | 35,342 |  |  |  | 87,773 |
Total |  | $ | 103,526 |  |  | $ | 31,000 |  |  | $ | 0 |  |  | $ | 94,229 |  |  | $ | 228,755 |
|  | December 31, 2018 |
|  | Remaining Contractual Maturity of the Agreements |
(in thousands) |  | Overnight and Continuous |  |  | Up to 30 days |  |  | 30-90 days |  |  | Greater Than 90 days |  |  | Total |
Repurchase agreements and repurchase-to-maturity transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 25,346 |  |  | $ | 0 |  |  | $ | 2,548 |  |  | $ | 60,699 |  |  | $ | 88,593 |
State and political subdivisions |  |  | 58,864 |  |  |  | 0 |  |  |  | 2,995 |  |  |  | 10,384 |  |  |  | 72,243 |
U.S. government sponsored agency mortgage-backed securities |  |  | 22,076 |  |  |  | 0 |  |  |  | 1,877 |  |  |  | 47,923 |  |  |  | 71,876 |
Total |  | $ | 106,286 |  |  | $ | 0 |  |  | $ | 7,420 |  |  | $ | 119,006 |  |  | $ | 232,712 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfRepurchaseAgreementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for repurchase agreements (also known as repos), resale agreements (also known as reverse repurchase agreements or reverse repos), securities borrowed transactions, and securities loaned transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -URI http://asc.fasb.org/topic&trid=2197590 + Details
Name: | us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration