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Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Shares to be Issued and Remaining Shares Available for Future Issuance

As of December 31, 2020, CTBI maintained one active and one inactive incentive stock ownership plans covering key employees. The 2015 Stock Ownership Incentive Plan (“2015 Plan”) was approved by the Board of Directors and the Shareholders in 2015. The 2006 Stock Ownership Incentive Plan (“2006 Plan”) was approved by the Board of Directors and the Shareholders in 2006. The 2006 Plan was rendered inactive as of April 28, 2015. The 2015 Plan has 550,000 shares authorized, 459,852 of which were available at December 31, 2020. Shares issuable pursuant to awards which were granted under the prior plans on or before their respective expiration or termination dates will be issued from the remaining shares reserved for issuance under the prior plans. The shares of common stock reserved for issuance under the prior plans in excess of the number of shares as to which options or other benefits are awarded thereunder, and any shares as to which options or other benefits granted under the prior plans may lapse, expire, terminate or be canceled, will not be reserved and available for issuance or reissuance under the 2015 Plan. The following table provides detail of the number of shares to be issued upon exercise of outstanding stock-based awards and remaining shares available for future issuance under all of CTBI’s equity compensation plans as of December 31, 2020:

Plan Category (shares in thousands)

Number of

Shares to Be

Issued Upon

Exercise

Weighted

Average

Price

Available for

Future

Issuance

Equity compensation plans approved by shareholders:

Stock options

32.27

460(a

)

Restricted stock

(c)

(b)

(a)

Performance units

(d)

(b)

(a)

Stock appreciation rights (“SARs”)

(e)

(b)

(a)

Total

460

(a)

Under the 2015 Plan, 550,000 shares are authorized for issuance; 94,453 have been issued as of December 31, 2020 In January of 2016, 18,069 restricted stock shares were issued under the terms of the 2015 Plan pursuant to awards granted under the 2006 Plan. Additional shares will not be issued pursuant to awards granted from prior plans.

(b)	Not applicable

(c)	The maximum number of shares of restricted stock that may be granted is 550,000 shares, and the maximum that may be granted to a participant during any calendar year is 75,000 shares.

(d)	No performance units payable in stock had been issued as of December 31, 2020. The maximum payment that can be made pursuant to performance units granted to any one participant in any calendar year is $1,000,000.

(e)	No SARS have been issued. The maximum number of shares with respect to which SARs may be granted to a participant during any calendar year is 100,000 shares.

Unrecognized Compensation Cost, Grant-Date Fair Value of Shares Vested, Cash Received from Option Exercises and Actual Tax Benefit Realized for Tax Deductions from Option Exercises

The following table shows the unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the plans at December 31, 2020, 2019, and 2018 and the total grant-date fair value of shares vested, cash received from option exercises under all share-based payment arrangements, and the actual tax benefit realized for the tax deductions from option exercises of the share-based payment arrangements for the years ended December 31, 2020, 2019, and 2018.

(in thousands)	2020		2019		2018
Unrecognized compensation cost of unvested share-based compensation arrangements granted under the plan at year-end	$	1,512	$	1,410	$	1,072
Grant date fair value of shares vested for the year		887		605		645
Cash received from option exercises under all share-based payment arrangements for the year		11		401		399
Tax benefit realized for the tax deductions from option exercises of the share-based payment arrangements for the year		1		27		49

2015 Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Shares to be Issued and Remaining Shares Available for Future Issuance

The following table details the shares available for future issuance under the 2015 Plan at December 31, 2020.

Plan Category	Shares Available for Future Issuance
Shares available at January 1, 2020		481,396
Stock option grants		0
Restricted stock grants		(21,544	)
Forfeitures		0
Shares available for future issuance at December 31, 2020		459,852

Schedule of Stock Option Activity

CTBI’s stock option activity for the 2015 Plan for the years ended December 31, 2020, 2019, and 2018 is summarized as follows:

December 31	2020				_2019				_2018*
	Options		Weighted Average Exercise Price		Options		Weighted Average Exercise Price		Options			Weighted Average Exercise Price
Outstanding at beginning of year		0	$	0		0	$	0		10,000		$	33.55
Granted		0		0		0		0		0			0
Exercised		0		0		0		0		(10,000	)		33.55
Forfeited/expired		0		0		0		0		0			0
Outstanding at end of year		0	$	0		0	$	0		0		$	0

Exercisable at end of year		0	$	0		0	$	0		0		$	0

*Pursuant to the 2015 Plan provisions, the death of the option holder accelerated the vesting of 10,000 shares in 2018.

Schedule of Intrinsic Values of Options Exercised, Exercisable, and Outstanding

The following table shows the intrinsic values of options exercised, exercisable, and outstanding for the 2015 Plan for the years ended December 31, 2020, 2019, and 2018:

(in thousands)	2020		2019		2018
Options exercised	$	0	$	0	$	140
Options exercisable		0		0		0
Outstanding options		0		0		0

Schedule of Restricted Stock Activity

The following table shows restricted stock activity for the 2015 Plan for the years ended December 31, 2020, 2019, and 2018:

December 31	2020					2019					2018
	Grants			Weighted Average Fair Value at Grant		Grants			Weighted Average Fair Value at Grant		Grants			Weighted Average Fair Value at Grant
Outstanding at beginning of year		50,992		$	43.08		34,255		$	44.46		33,085		$	41.84
Granted		21,544			44.64		27,921			41.12		11,320			49.30
Vested		(16,985	)		41.92		(10,596	)		42.39		(8,761	)		40.46
Forfeited		0			-		(588	)		43.04		(1,389	)		46.77
Outstanding at end of year		55,551		$	44.04		50,992		$	43.08		34,255		$	44.46

2006 Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Stock Option Activity

CTBI’s stock option activity for the 2006 Plan for the years ended December 31, 2020, 2019, and 2018 is summarized as follows:

December 31	2020					2019					2018
	Options			Weighted Average Exercise Price		Options			Weighted Average Exercise Price		Options			Weighted Average Exercise Price
Outstanding at beginning of year		20,495		$	32.04		32,571		$	32.47		35,376		$	31.90
Granted		0			0		0			0		0			0
Exercised		(495	)		22.81		(12,076	)		33.19		(2,475	)		25.52
Forfeited/expired		0			0		0			0		(330	)		23.79
Outstanding at end of year		20,000		$	32.27		20,495		$	32.04		32,571		$	32.47

Exercisable at end of year		20,000		$	32.27		495		$	22.81		2,571		$	25.11

Summary for Status of Nonvested Options

A summary of the status of CTBI’s 2006 Plan for nonvested options as of December 31, 2020, and changes during the year ended December 31, 2020, is presented as follows:

Nonvested Options	Options		Weighted Average Grant Date Fair Value
Nonvested at January 1, 2020		20,000	$	6.59
Granted		0		0
Vested		20,000		6.59
Forfeited		0		0
Nonvested at December 31, 2020		0	$	0

Schedule of Intrinsic Values of Options Exercised, Exercisable, and Outstanding

The following table shows the intrinsic values of options exercised, exercisable, and outstanding for the 2006 Plan for the years ended December 31, 2020, 2019, and 2018:

(in thousands)	2020		2019		2018
Options exercised	$	11	$	135	$	56
Options exercisable		96		12		37
Outstanding options		96		299		233

Schedule of Restricted Stock Activity

The following table shows restricted stock activity for the years ended December 31, 2020, 2019, and 2018:

December 31	2020				2019					2018
	Grants		Weighted Average Fair Value at Grant		Grants			Weighted Average Fair Value at Grant		Grants			Weighted Average Fair Value at Grant
Outstanding at beginning of year		0	$	0		2,064		$	32.27		5,426		$	33.24
Granted		0		0		0			0		0			0
Vested		0		0		(2,064	)		32.27		(3,236	)		33.90
Forfeited		0		0		0			0		(126	)		32.27
Outstanding at end of year		0	$	0.00		0		$	0		2,064		$	32.27