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Securities (Tables)
 9 Months Ended
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