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Related Party Transactions
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions
6. Related Party Transactions


In the ordinary course of business, CTB has made extensions of credit and had transactions with certain directors and executive officers of CTBI or our subsidiaries, including their associates (as defined by the Securities and Exchange Commissions).  We believe such extensions of credit and transactions were made on substantially the same terms, including interest rate and collateral, as those prevailing at the same time for comparable transactions with other persons.


Activity for related party extensions of credit during 2024 and 2023 is as follows:

(in thousands)
  
2024
    
2023
  
Related party extensions of credit, beginning of year
  
$
35,315
    
$
42,067
  
New loans and advances on lines of credit
    
0
      
980
  
Repayments
    
(1,022
)
    
(7,502
)
Decrease due to changes in related parties
    
(5,136
)
    
(230
)
Related party extensions of credit, end of year
  
$
29,157
    
$
35,315
  


The aggregate balances of related party deposits at December 31, 2024 and 2023 were $29.5 million and $28.3 million, respectively.


A director of CTBI is a shareholder in a law firm that provided services to CTBI and our subsidiaries during the years 2024, 2023, and 2022.  Approximately $0.5 million in legal fees and $0.1 million in expenses paid on behalf of CTBI, $0.6 million total, were paid to this law firm during 2024.  Approximately $0.4 million in legal fees and $0.1 million in expenses paid on behalf of CTBI, $0.5 million total, were paid to this law firm during 2023.  Approximately $0.4 million in legal fees and $0.1 million in expenses paid on behalf of CTBI, $0.5 million total, were paid to this law firm during 2022.