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Loans (Tables)

12 Months Ended

Dec. 31, 2019

Loans [Abstract]

Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans

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

(in thousands)		December 31 2019				December 31 2018
Commercial construction		$	104,809			$	82,715
Commercial secured by real estate			1,169,975				1,183,093
Equipment lease financing			481				1,740
Commercial other			389,683				377,198
Real estate construction			63,350				57,160
Real estate mortgage			733,003				722,417
Home equity			111,894				106,299
Consumer direct			148,051				144,289
Consumer indirect			527,418				533,727
Total loans		$	3,248,664			$	3,208,638

Nonaccrual Loans Segregated by Class of Loans

Nonaccrual loans segregated by class of loans were as follows:

(in thousands)		December 31 2019				December 31 2018
Commercial:
Commercial construction		$	230			$	639
Commercial secured by real estate			3,759				4,537
Commercial other			3,839				797
Residential:
Real estate construction			634				22
Real estate mortgage			4,821				5,395
Home equity			716				477
Total nonaccrual loans		$	13,999			$	11,867

Bank's Loan Portfolio Aging Analysis, Segregated by Class

The following tables present CTBI’s loan portfolio aging analysis, segregated by class, as of December 31, 2019 and 2018:

		December 31, 2019
(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		$	118			$	0			$	467			$	585			$	104,224			$	104,809			$	237
Commercial secured by real estate			2,734				5,969				12,366				21,069				1,148,906				1,169,975				8,820
Equipment lease financing			0				0				0				0				481				481				0
Commercial other			880				284				6,267				7,431				382,252				389,683				2,586
Residential:
Real estate construction			117				52				634				803				62,547				63,350				0
Real estate mortgage			774				5,376				10,320				16,470				716,533				733,003				7,088
Home equity			1,084				412				736				2,232				109,662				111,894				344
Consumer:
Consumer direct			945				230				97				1,272				146,779				148,051				97
Consumer indirect			4,037				909				447				5,393				522,025				527,418				448
Total		$	10,689			$	13,232			$	31,334			$	55,255			$	3,193,409			$	3,248,664			$	19,620

		December 31, 2018
(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		$	87			$	58			$	698			$	843			$	81,872			$	82,715			$	58
Commercial secured by real estate			6,287				1,204				8,776				16,267				1,166,826				1,183,093				4,632
Equipment lease financing			0				0				0				0				1,740				1,740				0
Commercial other			1,057				94				1,067				2,218				374,980				377,198				581
Residential:
Real estate construction			144				438				28				610				56,550				57,160				6
Real estate mortgage			1,272				5,645				7,607				14,524				707,893				722,417				4,095
Home equity			898				365				441				1,704				104,595				106,299				246
Consumer:
Consumer direct			918				191				74				1,183				143,106				144,289				74
Consumer indirect			4,715				975				507				6,197				527,530				533,727				506
Total		$	15,378			$	8,970			$	19,198			$	43,546			$	3,165,092			$	3,208,638			$	10,198

*90+ and Accruing are also included in 90+ Days Past Due column.

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 December 31, 2019 and 2018:

(in thousands)		Commercial Construction				Commercial Secured by Real Estate				Equipment Leases				Commercial Other				Total
December 31, 2019
Pass		$	98,102			$	1,036,573			$	481			$	358,203			$	1,493,359
Watch			3,595				54,338				0				13,618				71,551
OAEM			254				27,964				0				6,065				34,283
Substandard			2,858				51,068				0				11,737				65,663
Doubtful			0				32				0				60				92
Total		$	104,809			$	1,169,975			$	481			$	389,683			$	1,664,948
December 31, 2018
Pass		$	74,222			$	1,038,309			$	1,740			$	327,431			$	1,441,702
Watch			3,070				71,834				0				28,986				103,890
OAEM			1,594				19,734				0				5,735				27,063
Substandard			3,829				53,125				0				14,970				71,924
Doubtful			0				91				0				76				167
Total		$	82,715			$	1,183,093			$	1,740			$	377,198			$	1,644,746

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 CTBI’s residential real estate and consumer loan portfolios based on performing or nonperforming status, segregated by class, as of December 31, 2019 and 2018:

(in thousands)		Real Estate Construction				Real Estate Mortgage				Home Equity				Consumer Direct				Consumer Indirect				Total
December 31, 2019
Performing		$	62,716			$	721,094			$	110,834			$	147,954			$	526,970			$	1,569,568
Nonperforming (1)			634				11,909				1,060				97				448				14,148
Total		$	63,350			$	733,003			$	111,894			$	148,051			$	527,418			$	1,583,716
December 31, 2018
Performing		$	57,132			$	712,927			$	105,576			$	144,215			$	533,221			$	1,553,071
Nonperforming (1)			28				9,490				723				74				506				10,821
Total		$	57,160			$	722,417			$	106,299			$	144,289			$	533,727			$	1,563,892

(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 years ended December 31, 2019, 2018, and 2017:

		December 31, 2019
(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		$	2,836			$	2,837			$	0			$	3,234			$	170
Commercial secured by real estate			40,346				41,557				0				36,976				1,601
Commercial other			7,829				9,489				0				9,889				460
Real estate mortgage			2,309				2,309				0				2,385				85
Loans with a specific valuation allowance:
Commercial construction			174				174				99				215				11
Commercial secured by real estate			1,033				2,176				227				1,678				15
Commercial other			3,244				3,244				886				1,323				29
Totals:
Commercial construction			3,010				3,011				99				3,449				181
Commercial secured by real estate			41,379				43,733				227				38,654				1,616
Commercial other			11,073				12,733				886				11,212				489
Real estate mortgage			2,309				2,309				0				2,385				85
Total		$	57,771			$	61,786			$	1,212			$	55,700			$	2,371

		December 31, 2018
(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		$	4,100			$	4,100			$	0			$	3,923			$	171
Commercial secured by real estate			29,645				31,409				0				30,250				1,412
Commercial other			8,285				9,982				0				8,774				530
Real estate construction			0				0				0				106				0
Real estate mortgage			1,882				1,882				0				1,666				41
Loans with a specific valuation allowance:
Commercial construction			127				127				50				42				0
Commercial secured by real estate			1,854				2,983				605				2,051				1
Commercial other			473				473				146				285				16
Totals:
Commercial construction			4,227				4,227				50				3,965				171
Commercial secured by real estate			31,499				34,392				605				32,301				1,413
Commercial other			8,758				10,455				146				9,059				546
Real estate construction			0				0				0				106				0
Real estate mortgage			1,882				1,882				0				1,666				41
Total		$	46,366			$	50,956			$	801			$	47,097			$	2,171

		December 31, 2017
(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		$	4,431			$	4,439			$	0			$	4,835			$	200
Commercial secured by real estate			28,480				30,365				0				27,753				1,344
Equipment lease financing			0				0				0				34				0
Commercial other			9,481				11,252				0				10,444				539
Real estate construction			318				318				0				534				0
Real estate mortgage			1,564				1,570				0				1,591				36
Loans with a specific valuation allowance:
Commercial construction			153				173				25				155				0
Commercial secured by real estate			2,985				4,095				966				3,932				8
Commercial other			0				0				0				65				0
Totals:
Commercial construction			4,584				4,612				25				4,990				200
Commercial secured by real estate			31,465				34,460				966				31,685				1,352
Equipment lease financing			0				0				0				34				0
Commercial other			9,481				11,252				0				10,509				539
Real estate construction			318				318				0				534				0
Real estate mortgage			1,564				1,570				0				1,591				36
Total		$	47,412			$	52,212			$	991			$	49,343			$	2,127

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

Troubled Debt Restructurings

Presented below, segregated by class of loans, are troubled debt restructurings that occurred during the years ended December 31, 2019 and 2018:

		Year Ended December 31, 2019
(in thousands)		Number of Loans				Term Modification				Rate Modification				Combination				Post- Modification Outstanding Balance
Commercial:
Commercial construction			0			$	0			$	0			$	0			$	0
Commercial secured by real estate			17				6,105				0				679				6,784
Commercial other			17				1,565				0				264				1,829
Residential:
Real estate mortgage			1				463				0				0				463
Total troubled debt restructurings			35			$	8,133			$	0			$	943			$	9,076

		Year Ended December 31, 2018
(in thousands)		Number of Loans				Term Modification				Rate Modification				Combination				Post- Modification Outstanding Balance
Commercial:
Commercial construction			5			$	2,182			$	0			$	15			$	2,197
Commercial secured by real estate			24				4,004				0				1,383				5,387
Commercial other			8				465				0				0				465
Residential:
Real estate mortgage			3				264				0				704				968
Total troubled debt restructurings			40			$	6,915			$	0			$	2,102			$	9,017

Defaulted Restructured Loans

Loans retain their accrual status at the time of their modification. As a result, if a loan is on nonaccrual at the time it is modified, it stays as nonaccrual, and if a loan is on accrual at the time of the modification, it generally stays on accrual.  Commercial and consumer loans modified in a troubled debt restructuring are closely monitored for delinquency as an early indicator of possible future default.  If loans modified in a troubled debt restructuring subsequently default, CTBI evaluates the loan for possible further impairment.  The allowance for loan losses may be increased, adjustments may be made in the allocation of the allowance, or partial charge-offs may be taken to further write-down the carrying value of the loan.  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 considers a loan in default when it is 90 days or more past due or transferred to nonaccrual.

(in thousands)		Year Ended December 31, 2019
		Number of Loans				Recorded Balance
Commercial:
Commercial construction			0			$	0
Commercial secured by real estate			1				30
Commercial other			1				34
Residential:
Real estate mortgage			1				463
Total defaulted restructured loans			3			$	527

(in thousands)		Year Ended December 31, 2018
		Number of Loans				Recorded Balance
Commercial:
Commercial construction			2			$	148
Commercial secured by real estate			1				17
Commercial other			1				84
Total defaulted restructured loans			4			$	249

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