About Community Trust Bancorp

Community Trust Bancorp, Inc. (CTBI) operates as a bank holding company. CTBI owns all the capital stock of one commercial bank and one trust company, serving small and mid-sized communities in eastern, northeastern, central, and south central Kentucky, southern West Virginia, and northeastern Tennessee. The commercial bank is Community Trust Bank, Inc., Pikeville, Kentucky ('CTB') and the trust company is Community Trust and Investment Company, Lexington, Kentucky ('CTIC'). Through the company's subsidiaries, CTBI engages in a wide range of commercial and personal banking and trust and wealth management activities, which include accepting time and demand deposits; making secured and unsecured loans to corporations, individuals, and others; providing cash management services to corporate and individual customers; issuing letters of credit; renting safe deposit boxes; and providing funds transfer services. The lending activities of CTB include making commercial, construction, mortgage, and personal loans. Lines of credit, revolving lines of credit, term loans, and other specialized loans, including asset-based financing, are also available. The company's corporate subsidiaries act as trustees of personal trusts, as executors of estates, as trustees for employee benefit trusts, as paying agents for bond and stock issues, as investment agent, as depositories for securities, and as providers of full-service brokerage and insurance services. Loans CTBI has segregated and evaluates the company's loan portfolio through nine portfolio segments. CTBI serves customers in small and mid-sized communities in eastern, northeastern, central, and south central Kentucky, southern West Virginia, and northeastern Tennessee. Hotel/motel loans are a significant concentration for CTBI, representing approximately 9.8% of total loans. Additionally, any hotel/motel construction loans would be included in this segment as CTBI's construction loans are primarily completed as one loan going from construction to permanent financing. Commercial real estate residential loans are commercial purpose construction and permanent financed loans for commercial purpose 1-4 family/multi-family properties. Commercial real estate nonresidential loans are secured by nonfarm, nonresidential properties, farmland, and other commercial real estate. Construction for commercial real estate nonresidential loans are also included in this segment as these loans are generally one loan for construction to permanent financing. Dealer floorplans consist of loans to dealerships to finance inventory and are collateralized under a blanket security agreement and without specific liens on individual units. Commercial other loans consist of agricultural loans, receivable financing, loans to financial institutions, loans for purchasing or carrying securities, and other commercial purpose loans. As a general practice, the company obtains collateral, such as equipment, or other assets, although such loans may be uncollateralized but guaranteed. Residential real estate loans are a mixture of fixed rate and adjustable rate first and second lien residential mortgage loans and also include real estate construction loans, which are typically for owner-occupied properties. The terms of the real estate construction loans are generally short-term with permanent financing upon completion. As a policy, CTBI holds adjustable rate loans and sells the majority of the company's fixed rate first lien mortgage loans into the secondary market. Residential real estate loans are secured by real property. Home equity lines are primarily revolving adjustable rate credit lines secured by real property. Consumer direct loans are a mixture of fixed rate and adjustable rate products consisted of unsecured loans, consumer revolving credit lines, deposit secured loans, and all other consumer purpose loans. Indirect loans are primarily consumer fixed rate loans secured by automobiles, trucks, vans, and recreational vehicles originated at the selling dealership underwritten and purchased by CTBI's indirect lending department. Both new and used products are financed. Only dealers who have executed dealer agreements with CTBI participate in the indirect lending program. Securities As of December 31, 2023, the company's securities included U.S. Treasury and government agencies; state and political subdivisions; U.S. government sponsored agency mortgage-backed securities; and asset-backed securities. Deposits As of December 31, 2023, the company's deposits included noninterest bearing deposits; interest bearing demand deposits; money market deposits; savings; certificates of deposit and other time deposits of $100,000 or more; and certificates of deposit and other time deposits less than $100,000. Supervision and Regulation As a registered bank holding company, the company is restricted to those activities permissible under the Bank Holding Company Act of 1956, as amended, and are subject to actions of the Board of Governors of the Federal Reserve System thereunder. The company is required to file an annual report with the Federal Reserve Board and is subject to an annual examination by the Board. Community Trust Bank, Inc. is a state-chartered bank subject to state and federal banking laws and regulations and periodic examination by the Kentucky Department of Financial Institutions and the restrictions, including dividend restrictions, thereunder. CTB is also a member of the Federal Reserve System and is subject to certain restrictions imposed by and to examination and supervision under the Federal Reserve Act. Community Trust and Investment Company is also regulated by the Kentucky Department of Financial Institutions and the Federal Reserve. Deposits of CTB are insured up to applicable limits by the FDIC, which subjects banks to regulation and examination under the provisions of the Federal Deposit Insurance Act. The Securities and Exchange Commission ('SEC') maintains an internet site (http://www.sec.gov) that contains reports, proxy and information statements, and other information regarding CTBI and other issuers that file electronically with the SEC. History Community Trust Bancorp, Inc. was founded in 1903. The company was incorporated in 1980 under the laws of the Commonwealth of Kentucky.