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Fair Market Value of Financial Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Market Value of Financial Assets and Liabilities [Abstract]  
Fair Value Assets Measured on Recurring Basis
The following tables present the fair value measurements of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 and indicate the level within the fair value hierarchy of the valuation techniques.

     
Fair Value Measurements at
June 30, 2017 Using
 
(in thousands)
 
Fair Value
  
Quoted Prices in Active Markets for Identical Assets
(Level 1)
  
Significant Other Observable Inputs
(Level 2)
  
Significant Unobservable Inputs
(Level 3)
 
Assets measured – recurring basis
            
Available-for-sale securities:
            
U.S. Treasury and government agencies
 
$
236,058
  
$
80,195
  
$
155,863
  
$
0
 
State and political subdivisions
  
131,942
   
0
   
131,942
   
0
 
U.S. government sponsored agency mortgage-backed securities
  
217,872
   
0
   
217,872
   
0
 
CRA investment funds
  
24,496
   
24,496
   
0
   
0
 
Mortgage servicing rights
  
3,304
   
0
   
0
   
3,304
 

     
Fair Value Measurements at
December 31, 2016 Using
 
(in thousands)
 
Fair Value
  
Quoted Prices in Active Markets for Identical Assets
(Level 1)
  
Significant Other Observable Inputs
(Level 2)
  
Significant Unobservable Inputs
(Level 3)
 
Assets measured – recurring basis
            
Available-for-sale securities:
            
U.S. Treasury and government agencies
 
$
222,464
  
$
44,934
  
$
177,530
  
$
0
 
State and political subdivisions
  
133,516
   
0
   
133,516
   
0
 
U.S. government sponsored agency mortgage-backed securities
  
225,056
   
0
   
225,056
   
0
 
CRA investment funds
  
24,358
   
24,358
   
0
   
0
 
Mortgage servicing rights
  
3,433
   
0
   
0
   
3,433
 
Reconciliation of the Beginning and Ending Balance of Recurring Fair Value Measurements Using Significant Unobservable (Level 3) Inputs
Following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying balance sheet using significant unobservable (Level 3) inputs for the three and six months ended June 30, 2017 and 2016:

Mortgage Servicing Rights
      
  
Three Months Ended
  
Six Months Ended
 
  
June 30
  
June 30
 
(in thousands)
 
2017
  
2016
  
2017
  
2016
 
Beginning balance
 
$
3,474
  
$
2,908
  
$
3,433
  
$
3,236
 
Total recognized losses
                
Included in net income
  
(163
)
  
(160
)
  
(78
)
  
(540
)
Issues
  
88
   
127
   
171
   
221
 
Settlements
  
(95
)
  
(78
)
  
(222
)
  
(120
)
Ending balance
 
$
3,304
  
$
2,797
  
$
3,304
  
$
2,797
 
                 
Total losses for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date
 
$
(163
)
 
$
(160
)
 
$
(78
)
 
$
(540
)
Realized and Unrealized Gains and Losses for Items Included in Net Income in the Consolidated Statements of Income
Realized and unrealized gains and losses for items reflected in the table above are included in net income in the consolidated statements of income as follows:

Noninterest Income
      
  
Three Months Ended
  
Six Months Ended
 
  
June 30
  
June 30
 
(in thousands)
 
2017
  
2016
  
2017
  
2016
 
Total losses
 
$
(258
)
 
$
(238
)
 
$
(301
)
 
$
(660
)
Fair Value Measurements of Recognized Assets Measured on Nonrecurring Basis
The following tables present the fair value measurements of assets recognized in the accompanying balance sheets measured at fair value on a nonrecurring basis as of June 30, 2017 and December 31, 2016 and indicate the level within the fair value hierarchy of the valuation techniques.

     
Fair Value Measurements at
June 30, 2017 Using
 
(in thousands)
 
Fair Value
  
Quoted Prices in Active Markets for Identical Assets
(Level 1)
  
Significant Other Observable Inputs
(Level 2)
  
Significant Unobservable Inputs
(Level 3)
 
Assets measured – nonrecurring basis
            
Impaired loans (collateral dependent)
 
$
2,352
  
$
0
  
$
0
  
$
2,352
 
Other real estate/assets owned
  
17,166
   
0
   
0
   
17,166
 
 
     
Fair Value Measurements at
December 31, 2016 Using
 
(in thousands)
 
Fair Value
  
Quoted Prices in Active Markets for Identical Assets
(Level 1)
  
Significant Other Observable Inputs
(Level 2)
  
Significant Unobservable Inputs
(Level 3)
 
Assets measured – nonrecurring basis
            
Impaired loans (collateral dependent)
 
$
5,506
  
$
0
  
$
0
  
$
5,506
 
Other real estate/assets owned
  
4,388
   
0
   
0
   
4,388
 
Quantitative Information About Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements
The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements at June 30, 2017 and December 31, 2016.

(in thousands)
 
Quantitative Information about Level 3 Fair Value Measurements
  
Fair Value at June 30, 2017
 
Valuation Technique(s)
Unobservable Input
 
Range (Weighted Average)
Mortgage servicing rights
 
$
3,304
 
Discount cash flows, computer pricing model
Constant prepayment rate
  
7.0% - 29.4%
(10.6%)
        
Probability of default
  
0.0% - 100.0%
(3.9%)
        
Discount rate
  
10.0% - 11.5%
(10.1%)
          
Impaired loans (collateral-dependent)
 
$
2,352
 
Market comparable properties
Marketability discount
  
5.8% - 100.0%
(43.5%)
          
Other real estate/assets owned
 
$
17,166
 
Market comparable properties
Comparability adjustments
  
6.0% - 37.5%
(11.2%)

(in thousands)
 
Quantitative Information about Level 3 Fair Value Measurements
  
Fair Value at December 31, 2016
 
Valuation Technique(s)
Unobservable Input
 
Range (Weighted Average)
Mortgage servicing rights
 
$
3,433
 
Discount cash flows, computer pricing model
Constant prepayment rate
  
7.0% - 27.0%
(9.5%)
        
Probability of default
  
0.0% - 100.0%
(3.0%)
        
Discount rate
  
10.0% - 11.5%
(10.1%)
          
Impaired loans (collateral-dependent)
 
$
5,506
 
Market comparable properties
Marketability discount
  
0.0% - 100.0%
(33.7%)
          
Other real estate/assets owned
 
$
4,388
 
Market comparable properties
Comparability adjustments
  
10.0% - 100.0%
(14.9%)
Fair Value of Financial Instruments and Levels within the Fair Value Hierarchy of the Valuation Techniques
The following table presents estimated fair value of CTBI’s financial instruments as of June 30, 2017 and indicates the level within the fair value hierarchy of the valuation techniques.

     
Fair Value Measurements
at June 30, 2017 Using
 
(in thousands)
 
Carrying Amount
  
Quoted Prices in Active Markets for Identical Assets
(Level 1)
  
Significant Other Observable Inputs (Level 2)
  
Significant Unobservable Inputs
(Level 3)
 
Financial assets:
            
Cash and cash equivalents
 
$
127,830
  
$
127,830
  
$
0
  
$
0
 
Certificates of deposit in other banks
  
12,260
   
0
   
12,223
   
0
 
Securities available-for-sale
  
610,368
   
104,691
   
505,677
   
0
 
Securities held-to-maturity
  
858
   
0
   
858
   
0
 
Loans held for sale
  
4,624
   
4,727
   
0
   
0
 
Loans, net
  
3,050,209
   
0
   
0
   
3,028,478
 
Federal Home Loan Bank stock
  
17,927
   
0
   
17,927
   
0
 
Federal Reserve Bank stock
  
4,887
   
0
   
4,887
   
0
 
Accrued interest receivable
  
11,329
   
0
   
11,329
   
0
 
Mortgage servicing rights
  
3,304
   
0
   
0
   
3,304
 
                 
Financial liabilities:
                
Deposits
 
$
3,105,610
  
$
782,864
  
$
2,324,415
  
$
0
 
Repurchase agreements
  
257,208
   
0
   
0
   
257,148
 
Federal funds purchased
  
7,220
   
0
   
7,220
   
0
 
Advances from Federal Home Loan Bank
  
100,894
   
0
   
100,895
   
0
 
Long-term debt
  
59,341
   
0
   
0
   
49,073
 
Accrued interest payable
  
2,137
   
0
   
2,137
   
0
 
                 
Unrecognized financial instruments:
                
Letters of credit
 
$
0
  
$
0
  
$
0
  
$
0
 
Commitments to extend credit
  
0
   
0
   
0
   
0
 
Forward sale commitments
  
0
   
0
   
0
   
0
 
 
The following table presents estimated fair value of CTBI’s financial instruments as of December 31, 2016 and indicates the level within the fair value hierarchy of the valuation techniques.

 
(in thousands)
    
Fair Value Measurements
at December 31, 2016 Using
 
  
Carrying Amount
  
Quoted Prices in Active Markets for Identical Assets
(Level 1)
  
Significant Other Observable Inputs (Level 2)
  
Significant Unobservable Inputs
(Level 3)
 
Financial assets:
            
Cash and cash equivalents
 
$
144,716
  
$
144,716
  
$
0
  
$
0
 
Certificates of deposit in other banks
  
980
   
0
   
982
   
0
 
Securities available-for-sale
  
605,394
   
69,292
   
536,102
   
0
 
Securities held-to-maturity
  
866
   
0
   
867
   
0
 
Loans held for sale
  
1,244
   
1,260
   
0
   
0
 
Loans, net
  
2,902,438
   
0
   
0
   
2,882,348
 
Federal Home Loan Bank stock
  
17,927
   
0
   
17,927
   
0
 
Federal Reserve Bank stock
  
4,887
   
0
   
4,887
   
0
 
Accrued interest receivable
  
11,922
   
0
   
11,922
   
0
 
Mortgage servicing rights
  
3,433
   
0
   
0
   
3,433
 
                 
Financial liabilities:
                
Deposits
 
$
3,081,308
  
$
767,918
  
$
2,321,690
  
$
0
 
Repurchase agreements
  
251,065
   
0
   
0
   
250,820
 
Federal funds purchased
  
4,816
   
0
   
4,816
   
0
 
Advances from Federal Home Loan Bank
  
944
   
0
   
1,009
   
0
 
Long-term debt
  
61,341
   
0
   
0
   
49,073
 
Accrued interest payable
  
1,200
   
0
   
1,200
   
0
 
                 
Unrecognized financial instruments:
                
Letters of credit
 
$
0
  
$
0
  
$
0
  
$
0
 
Commitments to extend credit
  
0
   
0
   
0
   
0
 
Forward sale commitments
  
0
   
0
   
0
   
0