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Segment Reporting

9 Months Ended

Sep. 30, 2025

Note 7 – Segment Reporting

CTBI is a financial holding company, whose principal activity is the ownership and management of its wholly-owned subsidiaries, including CTB and Community Trust and Investment Company. As a community-oriented financial institution, the majority of CTBI’s operations consist of commercial and personal banking services. Management analyzes the operation of CTBI assuming one operating segment, community banking services. CTBI, through our operating subsidiaries, offers a wide range of consumer and commercial community banking services. Our chief operating decision maker is comprised of the executive officers of CTBI (the “Executive Committee”). The Executive Committee uses net income to allocate resources in the annual budget and forecasting process. The Executive Committee considers budget-to-actual variances on a monthly basis for profit measures when making decisions about allocating capital and personnel to the operating segment. The Executive Committee uses net interest income and noninterest income to allocate resources (including employees, financial, or capital resources) to that segment in the annual budget and forecasting process and uses that measure as a basis for evaluating product offerings and pricing. The following tables present information about reported segment revenue, measures of a segment’s profit or loss, and significant segment expenses for the quarters and nine months ended September 30, 2025 and 2024, and measure of a segment’s assets as of September 30, 2025 and December 31, 2024. CTBI does not allocate all holding company expenses, income taxes, or unusual items to the reportable segment. Accounting policies for the segment are the same as described in Note 1 above. All operations of CTBI are domestic. The following tables present the reconciliations of reportable segment revenues and measures of profit or loss and line item reconciliation to CTBI’s consolidated financial statement totals for the periods indicated.

(in thousands) Three Months Ended September 30, 2025	Community Banking Services		Holding Company			Eliminations			Consolidated
Interest income:
Interest and fees on loans, including loans held for sale	$	77,707	$	0		$	0		$	77,707
Interest and dividends on securities:
Taxable		5,762		0			0			5,762
Tax exempt		610		0			0			610
Interest and dividends on Federal Reserve Bank and Federal Home Loan Bank stock		190		0			0			190
Interest on Federal Reserve Bank deposits		4,194		0			0			4,194
Other, including interest on federal funds sold		70		29			0			99
Total interest income		88,533		29			0			88,562

Interest expense:
Interest on deposits		29,385		0			0			29,385
Interest on repurchase agreements and federal funds purchased		2,621		0			0			2,621
Interest on advances from Federal Home Loan Bank		0		0			0			0
Interest on long-term debt		102		954			(54	)		1,002
Total interest expense		32,108		954			(54	)		33,008

Net interest income		56,425		(925	)		54			55,554
Provision for credit losses		3,866		0			0			3,866
Net interest income after provision for credit losses		52,559		(925	)		54			51,688

Noninterest income:
Deposit related fees		8,131			0			0			8,131
Gains on sales of loans, net		89			0			0			89
Trust and wealth management income		4,419			0			(142	)		4,277
Loan related fees		897			0			0			897
Bank owned life insurance		1,144			0			0			1,144
Brokerage revenue		588			0			0			588
Securities gains (losses)		(449	)		0			0			(449	)
Dividend and undistributed income from subsidiaries		0			25,331			(25,331	)		0
Other noninterest income		1,565			310			(606	)		1,269
Total noninterest income		16,384			25,641			(26,079	)		15,946

Noninterest expense:
Officer salaries and employee benefits		3,908			650			(221	)		4,337
Other salaries and employee benefits		17,437			230			(230	)		17,437
Occupancy, net		2,468			0			0			2,468
Equipment		810			51			(68	)		793
Data processing		4,009			10			(444	)		3,575
Tax other than property and payroll		564			0			0			564
Legal fees		335			43			0			378
Professional fees		1,349			104			(786	)		667
Advertising and marketing		922			31			0			953
FDIC insurance		703			0			0			703
Other real estate owned provision and expense		99			0			0			99
Repossession expense		691			0			0			691
Other noninterest expense		3,984			245			(150	)		4,079
Total noninterest expense		37,279			1,364			(1,899	)		36,744

Income before income taxes		31,664			23,352			(24,126	)		30,890
Income taxes		7,538			(559	)		0			6,979
Net income	$	24,126		$	23,911		$	(24,126	)	$	23,911

(in thousands) Three Months Ended September 30, 2024	Community Banking Services		Holding Company			Eliminations			Consolidated
Interest income:
Interest and fees on loans, including loans held for sale	$	70,805	$	0		$	0		$	70,805
Interest and dividends on securities:
Taxable		6,025		0			0			6,025
Tax exempt		623		0			0			623
Interest and dividends on Federal Reserve Bank and Federal Home Loan Bank stock		180		0			0			180
Interest on Federal Reserve Bank deposits		2,044		0			0			2,044
Other, including interest on federal funds sold		104		33			0			137
Total interest income		79,781		33			0			79,814

Interest expense:
Interest on deposits		28,800		0			0			28,800
Interest on repurchase agreements and federal funds purchased		2,681		0			0			2,681
Interest on advances from Federal Home Loan Bank		0		0			0			0
Interest on long-term debt		94		1,103			(63	)		1,134
Total interest expense		31,575		1,103			(63	)		32,615

Net interest income		48,206		(1,070	)		63			47,199
Provision for credit losses		2,736		0			0			2,736
Net interest income after provision for credit losses		45,470		(1,070	)		63			44,463

Noninterest income:
Deposit related fees		7,886		0			0			7,886
Gains on sales of loans, net		80		0			0			80
Trust and wealth management income		3,707		0			0			3,707
Loan related fees		813		0			0			813
Bank owned life insurance		1,214		0			0			1,214
Brokerage revenue		563		0			0			563
Securities gains (losses)		213		0			0			213
Dividend and undistributed income from subsidiaries		0		23,258			(23,258	)		0
Other noninterest income		1,365		299			(577	)		1,087
Total noninterest income		15,841		23,557			(23,835	)		15,563

Noninterest expense:
Officer salaries and employee benefits		3,774		149			(208	)		3,715
Other salaries and employee benefits		15,806		218			(218	)		15,806
Occupancy, net		2,373		1			0			2,374
Equipment		697		53			(52	)		698
Data processing		3,197		4			(397	)		2,804
Taxes other than property and payroll		438		0			0			438
Legal fees		234		70			0			304
Professional fees		1,565		100			(945	)		720
Advertising and marketing		869		7			0			876
FDIC insurance		629		0			0			629
Other real estate owned provision and expense		13		0			0			13
Repossession expense		256		0			0			256
Other noninterest expense		3,759		268			(148	)		3,879
Total noninterest expense		33,610		870			(1,968	)		32,512

Income before income taxes		27,701		21,617			(21,804	)		27,514
Income taxes		5,897		(525	)		0			5,372
Net income	$	21,804	$	22,142		$	(21,804	)	$	22,142

(in thousands) Nine Months Ended September 30, 2025	Community Banking Services		Holding Company			Eliminations			Consolidated
Interest income:
Interest and fees on loans, including loans held for sale	$	226,271	$	0		$	0		$	226,271
Interest and dividends on securities:
Taxable		17,246		0			0			17,246
Tax exempt		1,840		0			0			1,840
Interest and dividends on Federal Reserve Bank and Federal Home Loan Bank stock		559		0			0			559
Interest on Federal Reserve Bank deposits		9,984		0			0			9,984
Other, including interest on federal funds sold		200		87			0			287
Total interest income		256,100		87			0			256,187

Interest expense:
Interest on deposits		85,013		0			0			85,013
Interest on repurchase agreements and federal funds purchased		7,291		0			0			7,291
Interest on advances from Federal Home Loan Bank		13		0			0			13
Interest on long-term debt		284		2,890			(165	)		3,009
Total interest expense		92,601		2,890			(165	)		95,326

Net interest income		163,499		(2,803	)		165			160,861
Provision for credit losses		9,528		0			0			9,528
Net interest income after provision for credit losses		153,971		(2,803	)		165			151,333

Noninterest income:
Deposit related fees		22,303		0			0			22,303
Gains on sales of loans, net		213		0			0			213
Trust and wealth management income		12,764		0			(414	)		12,350
Loan related fees		3,111		0			0			3,111
Bank owned life insurance		3,281		0			0			3,281
Brokerage revenue		1,608		0			0			1,608
Securities gains (losses)		181		0			0			181
Dividend and undistributed income from subsidiaries		0		75,445			(75,445	)		0
Other noninterest income		4,855		931			(1,819	)		3,967
Total noninterest income		48,316		76,376			(77,678	)		47,014

Noninterest expense:
Officer salaries and employee benefits		12,637		2,370			(663	)		14,344
Other salaries and employee benefits		49,202		690			(690	)		49,202
Occupancy, net		7,608		0			0			7,608
Equipment		2,317		154			(206	)		2,265
Data processing		11,065		27			(1,332	)		9,760
Tax other than property and payroll		1,666		0			0			1,666
Legal fees		1,043		214			0			1,257
Professional fees		4,052		309			(2,347	)		2,014
Advertising and marketing		2,376		15			0			2,391
FDIC insurance		2,080		0			0			2,080
Other real estate owned provision and expense		224		0			0			224
Repossession expense		1,148		0			0			1,148
Other noninterest expense		12,192		914			(450	)		12,656
Total noninterest expense		107,610		4,693			(5,688	)		106,615

Income before income taxes		94,677		68,880			(71,825	)		91,732
Income taxes		22,852		(1,902	)		0			20,950
Net income	$	71,825	$	70,782		$	(71,825	)	$	70,782

(in thousands) Nine Months Ended September 30, 2024	Community Banking Services		Holding Company			Eliminations			Consolidated
Interest income:
Interest and fees on loans, including loans held for sale	$	202,785	$	0		$	0		$	202,785
Interest and dividends on securities:
Taxable		19,087		0			0			19,087
Tax exempt		1,935		0			0			1,935
Interest and dividends on Federal Reserve Bank and Federal Home Loan Bank stock		564		0			0			564
Interest on Federal Reserve Bank deposits		6,756		0			0			6,756
Other, including interest on federal funds sold		236		101			0			337
Total interest income		231,363		101			0			231,464

Interest expense:
Interest on deposits		83,620		0			0			83,620
Interest on repurchase agreements and federal funds purchased		7,897		0			0			7,897
Interest on advances from Federal Home Loan Bank		15		0			0			15
Interest on long-term debt		278		3,379			(193	)		3,464
Total interest expense		91,810		3,379			(193	)		94,996

Net interest income		139,553		(3,278	)		193			136,468
Provision for credit losses		8,364		0			0			8,364
Net interest income after provision for credit losses		131,189		(3,278	)		193			128,104

Noninterest income:
Deposit related fees		22,205		0			0			22,205
Gains on sales of loans, net		244		0			0			244
Trust and wealth management income		10,960		0			0			10,960
Loan related fees		3,485		0			0			3,485
Bank owned life insurance		4,321		0			0			4,321
Brokerage revenue		1,736		0			0			1,736
Securities gains (losses)		110		0			0			110
Dividend and undistributed income from subsidiaries		0		64,526			(64,526	)		0
Other noninterest income		4,176		883			(1,715	)		3,344
Total noninterest income		47,237		65,409			(66,241	)		46,405

Noninterest expense:
Officer salaries and employee benefits		11,355		1,356			(623	)		12,088
Other salaries and employee benefits		47,146		654			(654	)		47,146
Occupancy, net		7,126		1			0			7,127
Equipment		2,086		152			(176	)		2,062
Data processing		9,157		12			(1,178	)		7,991
Taxes other than property and payroll		1,318		0			0			1,318
Legal fees		674		145			0			819
Professional fees		4,500		343			(2,828	)		2,015
Advertising and marketing		2,265		44			0			2,309
FDIC insurance		1,916		0			0			1,916
Other real estate owned provision and expense		73		0			0			73
Repossession expense		778		0			0			778
Other noninterest expense		11,131		824			(443	)		11,512
Total noninterest expense		99,525		3,531			(5,902	)		97,154

Income before income taxes		78,901		58,600			(60,146	)		77,355
Income taxes		18,755		(1,720	)		0			17,035
Net income	$	60,146	$	60,320		$	(60,146	)	$	60,320

The following tables present other segment disclosures for the periods indicated:

(in thousands) Three Months Ended September 30, 2025	Community Banking Services		Holding Company		Eliminations		Consolidated
Depreciation and amortization	$	1,025	$	51	$	0	$	1,076
Amortization of operating lease right-of-use assets		350		0		0		350
Significant non-cash items:
Provision for credit losses		3,866		0		0		3,866
Change in cash surrender value of bank owned life insurance		808		0		0		808
Expenditures for long-lived assets		1,153		35		0		1,188

(in thousands) Three Months Ended September 30, 2024	Community Banking Services		Holding Company		Eliminations		Consolidated
Depreciation and amortization	$	915	$	53	$	0	$	968
Amortization of operating lease right-of-use assets		372		0		0		372
Significant non-cash items:
Provision for credit losses		2,736		0		0		2,736
Change in cash surrender value of bank owned life insurance		909		0		0		909
Expenditures for long-lived assets		1,298		41		0		1,339

(in thousands) Nine Months Ended September 30, 2025	Community Banking Services		Holding Company		Eliminations		Consolidated
Depreciation and amortization	$	2,905	$	154	$	0	$	3,059
Amortization of operating lease right-of-use assets		1,185		0		0		1,185
Significant non-cash items:
Provision for credit losses		9,528		0		0		9,528
Change in cash surrender value of bank owned life insurance		2,262		0		0		2,262
Expenditures for long-lived assets		5,523		102		0		5,625

(in thousands) Nine Months Ended September 30, 2024	Community Banking Services		Holding Company		Eliminations		Consolidated
Depreciation and amortization	$	2,713	$	152	$	0	$	2,865
Amortization of operating lease right-of-use assets		895		0		0		895
Significant non-cash items:
Provision for credit losses		8,364		0		0		8,364
Change in cash surrender value of bank owned life insurance		3,401		0		0		3,401
Expenditures for long-lived assets		4,773		271		0		5,044

Below is a reconciliation of our reportable segment assets to CTBI’s consolidated total assets as of September 30, 2025 and December 31, 2024:

(in thousands)	September 30 2025			December 31 2024
Assets
Community banking services assets	$	6,631,839		$	6,186,518
Holding company assets		896,557			822,851
Elimination of subsidiary and parent cash and intercompany receivables		(4,082	)		(3,779	)
Elimination of investment in subsidiaries		(886,185	)		(812,345	)
Consolidated total assets	$	6,638,129		$	6,193,245

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details