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Securities (Tables) | 9 Months Ended
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Sep. 30, 2025
Securities [Abstract] |
Amortized Cost and Fair Value of Available-for-sale Securities | The amortized cost and fair value of debt securities at September 30, 2025 are summarized as follows: Available-for-Sale
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury and government agencies |  | $ | 244,685 |  |  | $ | 62 |  |  | $ | (10,134 | ) |  | $ | 234,613 |
State and political subdivisions |  |  | 302,981 |  |  |  | 110 |  |  |  | (39,362 | ) |  |  | 263,729 |
Agency mortgage-backed securities |  |  | 554,330 |  |  |  | 900 |  |  |  | (46,131 | ) |  |  | 509,099 |
Asset-backed securities |  |  | 30,573 |  |  |  | 49 |  |  |  | (98 | ) |  |  | 30,524 |
Total available-for-sale securities |  | $ | 1,132,569 |  |  | $ | 1,121 |  |  | $ | (95,725 | ) |  | $ | 1,037,965 |
The amortized cost and fair value of debt securities at December 31, 2024 are summarized as follows: Available-for-Sale
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury and government agencies |  | $ | 360,027 |  |  | $ | 84 |  |  | $ | (18,616 | ) |  | $ | 341,495 |
State and political subdivisions |  |  | 304,588 |  |  |  | 12 |  |  |  | (51,043 | ) |  |  | 253,557 |
Agency mortgage-backed securities |  |  | 471,000 |  |  |  | 131 |  |  |  | (61,422 | ) |  |  | 409,709 |
Asset-backed securities |  |  | 51,034 |  |  |  | 10 |  |  |  | (77 | ) |  |  | 50,967 |
Total available-for-sale securities |  | $ | 1,186,649 |  |  | $ | 237 |  |  | $ | (131,158 | ) |  | $ | 1,055,728 |
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity | The amortized cost and fair value of debt securities at September 30, 2025 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | Available-for-Sale |
(in thousands) |  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 88,818 |  |  | $ | 87,421 |
Due after one through five years |  |  | 215,974 |  |  |  | 203,827 |
Due after five through ten years |  |  | 131,800 |  |  |  | 116,328 |
Due after ten years |  |  | 111,074 |  |  |  | 90,766 |
Agency mortgage-backed securities |  |  | 554,330 |  |  |  | 509,099 |
Asset-backed securities |  |  | 30,573 |  |  |  | 30,524 |
Total debt securities |  | $ | 1,132,569 |  |  | $ | 1,037,965 |
Available for Sale Securities, Continuous Unrealized Loss Position | CTBI evaluates its investment portfolio on a quarterly basis for impairment. The analysis performed as of September 30, 2025 indicates that all impairment is market and interest rate driven and not credit-related. The percentage of total debt securities with unrealized losses as of September 30, 2025 was 88.8% compared to 95.5% as of December 31, 2024. The following table provides the amortized cost, gross unrealized losses, and fair value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of September 30, 2025 that are not deemed to have credit losses. Available-for-Sale
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Losses |  |  | Fair Value |
Less Than 12 Months |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 1,951 |  |  | $ | (6 | ) |  | $ | 1,945 |
State and political subdivisions |  |  | 4,527 |  |  |  | (223 | ) |  |  | 4,304 |
Agency mortgage-backed securities |  |  | 65,090 |  |  |  | (425 | ) |  |  | 64,665 |
Asset-backed securities |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Total <12 months AFS securities with unrealized losses |  |  | 71,568 |  |  |  | (654 | ) |  |  | 70,914 |
12 Months or More |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  |  | 238,299 |  |  |  | (10,128 | ) |  |  | 228,171 |
State and political subdivisions |  |  | 285,485 |  |  |  | (39,139 | ) |  |  | 246,346 |
Agency mortgage-backed securities |  |  | 401,088 |  |  |  | (45,706 | ) |  |  | 355,382 |
Asset-backed securities |  |  | 21,209 |  |  |  | (98 | ) |  |  | 21,111 |
Total ≥12 months AFS securities with unrealized losses |  |  | 946,081 |  |  |  | (95,071 | ) |  |  | 851,010 |
Total |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  |  | 240,250 |  |  |  | (10,134 | ) |  |  | 230,116 |
State and political subdivisions |  |  | 290,012 |  |  |  | (39,362 | ) |  |  | 250,650 |
Agency mortgage-backed securities |  |  | 466,178 |  |  |  | (46,131 | ) |  |  | 420,047 |
Asset-backed securities |  |  | 21,209 |  |  |  | (98 | ) |  |  | 21,111 |
Total AFS securities with unrealized losses |  | $ | 1,017,649 |  |  | $ | (95,725 | ) |  | $ | 921,924 |
The analysis performed as of December 31, 2024 indicated that all impairment was market and interest rate driven and not credit-related. The following table provides the amortized cost, gross unrealized losses, and fair value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of December 31, 2024 that are not deemed to have credit losses. Available-for-Sale
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Losses |  |  | Fair Value |
Less Than 12 Months |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 1,396 |  |  | $ | (2 | ) |  | $ | 1,394 |
State and political subdivisions |  |  | 14,262 |  |  |  | (192 | ) |  |  | 14,070 |
Agency mortgage-backed securities |  |  | 28,028 |  |  |  | (994 | ) |  |  | 27,034 |
Asset-backed securities |  |  | 24,545 |  |  |  | (14 | ) |  |  | 24,531 |
Total <12 months AFS securities with unrealized losses |  |  | 68,231 |  |  |  | (1,202 | ) |  |  | 67,029 |
12 Months or More |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  |  | 351,315 |  |  |  | (18,614 | ) |  |  | 332,701 |
State and political subdivisions |  |  | 288,445 |  |  |  | (50,851 | ) |  |  | 237,594 |
Agency mortgage-backed securities |  |  | 416,270 |  |  |  | (60,428 | ) |  |  | 355,842 |
Asset-backed securities |  |  | 15,579 |  |  |  | (63 | ) |  |  | 15,516 |
Total ≥12 months AFS securities with unrealized losses |  |  | 1,071,609 |  |  |  | (129,956 | ) |  |  | 941,653 |
Total |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  |  | 352,711 |  |  |  | (18,616 | ) |  |  | 334,095 |
State and political subdivisions |  |  | 302,707 |  |  |  | (51,043 | ) |  |  | 251,664 |
Agency mortgage-backed securities |  |  | 444,298 |  |  |  | (61,422 | ) |  |  | 382,876 |
Asset-backed securities |  |  | 40,124 |  |  |  | (77 | ) |  |  | 40,047 |
Total AFS securities with unrealized losses |  | $ | 1,139,840 |  |  | $ | (131,158 | ) |  | $ | 1,008,682 |

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