Your Company
A Community Banking Success
“We are committed to increasing shareholder value by operating our community banking model
with the core values of fairness, respect, and integrity.”
-Mission Statement
Community Trust Bancorp, Inc. operates with a conservative, efficient model of traditional
community banking which has been the foundation of our customer service for more than 112 years
and has driven our strong history of earnings. Our business model has allowed us to successfully
meet the challenges of a highly competitive business environment and difficult economic recovery.
Economic conditions in most of the communities we serve in Kentucky, West Virginia, and
Tennessee have improved. However, some business sectors in our Eastern Region, particularly
the energy industry, remain negatively impacted by oversupply, low prices, and regulatory burden.
We anticipate that most of our market areas will continue to experience moderately improving
economic conditions.
In 2015, we were pleased to be named for the second consecutive year as one of “America's 50
Most Trustworthy Financial Companies,” recognizing once again the stewardship of our
shareholders' assets, through strong corporate governance. Our history of investment returns
continues to demonstrate the viability of our stock as a long-term core value investment. Having a
firm foundation for our operations, a strong capital position, a highly skilled and dedicated
workforce, and a business model of community banking allows us to operate successfully.
The directors and management of Community Trust Bancorp, Inc. are committed to meeting
operational challenges while remaining focused on our core banking business and increasing
shareholder value.
Comparison of 5-Year Cumulative Total Return
$200
$100
$0
2010
2011
2012
2013
2014
2015
Community Trust Bancorp, Inc.
NASDAQ Stock Market (U.S.)
NASDAQ Bank Stocks Index
An investment in CTBI stock on December 31, 2010 would have
outperformed the NASDAQ Bank Stocks Index but not the
NASDAQ Stock Market (U.S.) at December 31, 2015.
1
2015
Annual
Report
To Our Shareholders
Dear Shareholders:
We are pleased to report that 2015 was a year of record earnings for your
Company with net income of $46.4 million. Earnings per share were $2.66
representing a return on average assets of 1.23% and a return on average
equity of 9.97%. Also, we were pleased to continue our commitment to
sharing earnings with our shareholders by increasing your quarterly cash
dividend for the 35 consecutive year to $0.31 per share, representing a
cash dividend yield to our investors of 3.55% at December 31, 2015.
th
An Improving Economy in Most of Our Markets
Jean R. Hale
Chairman, President and CEO
We have seen improvement in the economic conditions in most of the markets where we operate.
The economic recovery within our markets has been like that of the United States, varying
geographically, by business sector, and by individual. We continue to experience weak economic
conditions within our Eastern Region with the unemployment rate remaining elevated as the
energy industry continued its downward trajectory. Your Company positioned itself to have a
diversified loan portfolio and customer base by leveraging the various economies within the
markets we serve. We believe this diversification contributed to our continued strong profitability
during this protracted and inconsistent economic recovery. We remain a margin driven institution
and will continue to have pressure on our net interest margin as long as rates remain low. During
2015, we continued our focus on improving the financial performance of the Company by improving
the asset quality of our loan portfolio, reducing loan charge-offs, and controlling expenses while
growing our loan portfolio with quality loans. We saw improvement in all of these areas during
2015.
Our focus on the growth and profitability of our subsidiary, Community Trust and Investment
Company, resulted in a record contribution to the Company's noninterest revenue. During 2015,
we added an additional life insurance product to our menu of products and services available
through our subsidiary. We believe with the pressure placed on traditional noninterest revenue
sources, our wealth management, insurance, trust, and brokerage operations provide a good
opportunity for the growth of noninterest revenue in the future.
Providing a Consistent Return to Investors
Your management is focused on providing a strong, consistent return to our investors.
Management believes an investment in Community Trust Bancorp, Inc. is a long-term core value
investment. We believe in returning to our shareholders in several ways, including cash dividends,
stock dividends, stock splits, and price appreciation. Our goal is to return between 45% and 50% of
earnings to our shareholders in the form of cash dividends. Our dividend payout ratio was 45.86%
for 2015. The balance of our earnings is retained for the continued growth of your Company to
increase its earning capacity long-term.
2
2015
Annual
Report
During 2015, the shareholders' equity of your Company grew 6.2% to $475.6 million. Stock prices
of financial sector stocks continued to be volatile during 2015, and your Company's stock
experienced that volatility. However, an investment in CTBI for a 5-year period ending December
31, 2015 provided an annualized 9.80% return to investors. The closing price of your stock on
December 31, 2015 was $34.96 per share.
Our Success
We believe that the consistently strong financial performance of your Company can be attributed to
many things including our community banking business model, the strength of our directors, the
execution of our strategic plan by a highly qualified management team, and the hard work and
dedication of our more than 1,000 employees. We believe that challenges provide opportunities,
and with our strong foundation and 112 years of experience, we have a long history of seizing
opportunities for financial success. Your management team is focused on the success of your
Company.
We appreciate the opportunity to serve our constituents….Our Shareholders, Our Customers, Our
Employees, and Our Communities, and your loyalty and support are invaluable to the success of
your Company!
Jean R. Hale
Chairman, President and CEO
2015 Common Stock
(quarterly)
Sales Price
High
Low
Close
Mar 31
$36.47
$31.53
$33.16
Jun 30
$35.49
$31.54
$34.87
Sep 30
$37.63
$33.62
$35.51
Dec 31
$37.15
$33.68
$34.96
3
2015
Annual
Report
Financial Highlights
(in thousands except ratios, per share amounts, and employees)
Net income
Basic earnings per share
Diluted earnings per share
Cash dividends per share
Average shares outstanding
For the Year
2015
2014
Percentage Change
$
46,432
2.66
2.66
1.220
17,431
$
43,251
2.50
2.49
1.181
17,326
%
7.4
6.4
6.8
3.3
0.6
At Year End
2015
2014
Percentage Change
Assets
Earning assets
Deposits, incl. repurchase agreements
Loans
Allowance for loan and lease losses
Shareholders' equity
Book value per share
Market price per common share
$
3,903,934
3,635,857
3,232,007
2,873,961
36,094
475,583
27.12
34.96
$
3,723,765
3,459,991
3,109,443
2,733,824
34,447
447,877
25.64
36.61
Common shares outstanding
Full time equivalent employees
17,537
984
17,466
1,012
4.8
5.1
3.9
5.1
4.8
6.2
5.8
(
4.5
%
)
0.4
(
2.8
)
Significant Ratios
2015
2014
Percentage Change
For the year
Return on average assets
Return on average common equity
Net interest margin
Net charge-offs to average loans
Efficiency ratio
At year end
Capital ratios:
Equity to assets
Tier 1 leverage
Common equity Tier 1
Tier 1 risk based
Total risk based
Allowance to net loans
Allowance to nonperforming loans
%
1.23
9.97
3.81
0.25
58.20
%
1.18
9.94
3.92
0.31
59.12
%
4.2
0.3
)
(
2.8
)
(
19.4
)
(
1.6
12.18
12.40
14.58
16.70
17.95
1.26
126.16
12.03
12.04
--
16.51
17.76
1.26
88.43
1.2
3.0
--
1.2
1.1
0.0
42.7
4
2015
Annual
Report
Net Income
(in thousands)
$44,862
$45,172
$43,251
$46,432
$50,000
$40,000
$38,827
$30,000
$20,000
$10,000
$0
2011
2012
2013
2014
2015
Earnings Per Share
Dividends Per Share
$1.118
$1.136
$1.154
$1.181
$1.220
$2.64
$2.63
$2.66
$2.50
$2.31
$3.00
$2.50
$2.00
$1.50
$1.00
$0.50
$0.00
$1.40
$1.20
$1.00
$0.80
$0.60
$0.40
$0.20
$0.00
2011
2012
2013
2014
2015
2011
2012
2013
2014
2015
$550,000
$500,000
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Shareholders' Equity
(in thousands)
$400,344
$412,492
$366,866
$447,877
$475,583
2011
2012
2013
2014
2015
5
2015
Annual
Report
Financial Highlights
(in thousands except per share data)
Consolidated Statements of Income
2014
2015
Year ended December 31
Percentage Change
Interest income
Interest expense
Net interest income
Provision for loan losses
Noninterest income
Noninterest expense
Income before income taxes
Income tax expense
Net Income
Cash dividends per share
Book value per share
$
$
$
$
144,020
11,773
132,247
8,650
46,809
105,443
64,963
18,531
46,432
1.220
27.12
$
$
$
$
143,867
11,797
132,070
8,755
45,081
105,999
62,397
19,146
43,251
1.181
25.64
Average shares outstanding
17,431
17,326
%
0.1
)
(
0.2
0.1
)
(
1.2
3.8
(
0.5
4.1
(
3.2
7.4
)
)
3.3
5.8
0.6
(in thousands)
Assets
Consolidated Balance Sheets
At December 31
2015
2014
Percentage Change
Cash and deposits in other banks
Federal funds sold
Securities
Loans, net of allowance
Other assets
$
190,652
791
596,597
2,837,867
278,027
$
108,781
4,933
641,848
2,699,377
268,826
Total Assets
$3,903,934
$3,723,765
Liabilities and Shareholders’ Equity
Deposits
Repurchase agreements
Federal funds purchased and other
short-term borrowings
Advances from Federal Home Loan Bank
Long-term debt
Other liabilities
$
2,980,782
251,225
$
2,874,257
235,186
3,596
101,056
61,341
30,351
11,041
61,170
61,341
32,893
Total Liabilities
3,428,351
3,275,888
Shareholders' Equity
475,583
447,877
Total Liabilities and Shareholders' Equity
$3,903,934
$3,723,765
(
%
75.3
)
84.0
)
(
7.1
5.1
3.4
4.8
3.7
6.8
(
)
67.4
65.2
0.0
)
7.7
(
4.7
6.2
4.8
6
2015
Annual
Report
Noninterest Income
(in thousands)
$43,832
$45,957
$49,304
$45,081
$46,809
$55,000
$50,000
$45,000
$40,000
$35,000
$30,000
$25,000
$20,000
$15,000
$10,000
$5,000
$0
2011
2012
2013
2014
2015
5-Year Cumulative Average Asset Growth
Nonperforming Assets to Loans
and Foreclosed Properties
4.56%
4.09%
3.56%
3.84%
3.31%
5.00%
4.50%
4.00%
3.50%
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
3.59%
3.20%
3.12%
2.74%
2.38%
4.00%
3.50%
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
2011
2012
2013
2014
2015
2011
2012
2013
2014
2015
Efficiency Ratio
60.23%
57.93%
59.33%
59.12%
58.20%
70.00%
60.00%
50.00%
40.00%
30.00%
20.00%
10.00%
0.00%
2011
2012
2013
2014
2015
7
2015
Annual
Report
Shareholders
As a performance-driven team, our directors, officers and staff focus on providing a stable and
competitive return for our investors year after year. Our history of strong returns to investors
th
continued during 2015, as we increased the cash dividend to our shareholders for the 35
consecutive year.
Although Community Trust achieved record earnings of $46.4 million, our stock experienced a
4.5% decline in its price in 2015.
While increasing our cash dividend to our shareholders, we continued to grow our shareholders'
equity to $475.6 million at December 31, 2015, a 6.2% increase from December 31, 2014. At
December 31, 2015, our cash dividend yield was 3.55%, and the five-year compound growth rate
of cash dividends per share was 2.1%. The five-year compound growth rate of earnings per share
was 6.2% at December 31, 2015.
CTBI continues to maintain a significantly higher level of capital than required by regulators in order
to be designated as “well-capitalized.” To be “well-capitalized,” banks must maintain a Tier 1
leverage ratio of no less than 5.0%, a common equity Tier 1 capital ratio of no less than 6.5%, a Tier
1 risk based ratio of no less than 8.0%, and a total risk based ratio of no less than 10.0%. Our ratios
as of December 31, 2015 were 12.40%, 14.58%, 16.70%, and 17.95%, respectively, all exceeding
the threshold for meeting the definition of “well-capitalized.” On December 31, 2015, our tangible
common equity/tangible assets ratio remained strong at 10.68%.
Our stock is included in the Russell 2000 Index of small cap companies, providing us with a good
benchmark for comparing our stock's performance. During the 10-year period ending December
31, 2015, CTBI produced an annualized return of 6.17%, while the Russell 2000 Index produced an
annualized return of 6.80%.
Our stock is traded on the prestigious NASDAQ Global Select Market (a founding stock selection)
and is also one of 50 founding stocks of the NASDAQ's Dividend Achievers Index. An investment
in CTBI stock on December 31, 2010 would have provided an annualized return of 9.80% as of
December 31, 2015.
$30.00
$25.00
$20.00
$15.00
$10.00
$5.00
$0.00
Book Value Per Share
$23.31
$23.70
$21.61
$25.64
$27.12
2011
2012
2013
2014
2015
8
2015
Annual
Report
Customers
Our customers – individuals, businesses, and organizations – know that they can turn to us, with
confidence, for their many financial product and service needs. In 2015, Community Trust served
more than 240,000 customers.
We offer our customers a wide variety of banking products and services. We are committed to
serving our customers, both large and small, with products and services designed to fit each
customer's needs. In 2015, for the seventh consecutive year, we were recognized by the Small
Business Administration (SBA) as the top community bank SBA lender in the Commonwealth of
Kentucky based on the total number of loans. We also offer USDA guaranteed loans and an entire
suite of commercial loans and leases, mortgage loans, and consumer loans.
Our deposit related products and services include certificates of deposits, savings accounts, online
banking and online bill payment (at www.ctbi.com), mobile banking, commercial account remote
deposit capture, and commercial cash management services. We offer our customers convenient
access to their accounts through our network of 85 ATMs. The total number of ATMs to which our
customers have free access is more than 160. Please visit our website at www.ctbi.com/ctbi/about-
us/atm-location-listing for a complete listing of our ATM locations.
We are proud to announce that in 2016 we will expand our menu of mobile and online banking
services to include mobile banking Check Remote Deposit Capture. This service will allow our
customers to make a deposit into their account by taking a picture of a check with their smartphone.
Also new in 2016, we will offer People Pay and External Transfers, which are banking products
allowing customers to directly pay another person or transfer funds to an external account
electronically from their Community Trust Bank account.
We offer customers a full line of wealth and trust management, estate planning, and retirement
planning services, in addition to full service brokerage and life insurance products. We have trust
and wealth management professionals dedicated to helping individuals and businesses identify the
right products and services to meet their unique needs.
Our “community banking” operational philosophy enables us to develop a banking relationship with
our customers, understand their financial needs, and serve them through our banking offices, our
trust offices and our online banking system. We are proud to have served our customers for more
than 112 years.
In 2015, our banking franchise included 70 banking locations across eastern, northeastern, central,
and south central Kentucky, six banking locations in southern West Virginia, four banking locations
in northeastern Tennessee, four trust offices across Kentucky, and one trust office in Tennessee, all
focused on providing outstanding service to our customers.
9
2015
Annual
Report
Employees
Our employees are Community Trust's most valuable asset. Our more than 1,000 employee team
works together to provide each customer the best service each and every day. Our continued
success would not be possible without the dedication of our employees to meet the financial needs
of our customers.
We remain committed to providing our employees with opportunities for personal and professional
growth, whether it is by providing reimbursement of educational expenses, encouraging
attendance at seminars and in-house training programs, or by sponsoring memberships in local
civic organizations. Our employees participated in numerous coaching, training, and education
programs throughout the year. Additionally, Community Trust makes online training available to
employees; as a result, employees completed 110 different online courses through our Regulatory
University system.
We actively support our employees with a wellness program. Since beginning the program in 2004,
participating employees have experienced improvements in preventing cardiovascular disease,
cancer, and diabetes. Many of our employees have experienced decreases in elevated medical risk
factors, including alcohol consumption, tobacco usage, physical inactivity, high stress, high
cholesterol, and high blood pressure. This ongoing positive impact to our medical plan is reflected in
our employees not experiencing a premium increase since 2012.
Our incentive programs and internal sales campaigns also promote an environment focused on
sales and service. Participants can earn cash bonuses and win awards for top achievement. In
February 2016, we held our 17 annual “Pinnacle of Success” awards banquet and recognized 51
employees for their outstanding performance in sales and service during the prior year. We have
included the names of those employees, as well as the offices, markets, and regions recognized,
following the Branch Locations listing on page 16.
th
We know that the success of our employees means success for your Company. Our employees'
commitment to the mission of your Company and our constituents is evidenced by their ownership
of the Company's stock. Through their 401(k) and ESOP plans, our employees collectively own 1.3
million shares, or 7.3%, of Community Trust Bancorp, Inc. stock, making them our largest
shareholder. In 2015, Community Trust Bancorp, Inc. contributed $2.5 million to these plans.
10
2015
Annual
Report
Communities
Our corporate motto is “building communities…built on trust .” We take this commitment seriously
every day as we work to help our friends and neighbors fulfill their financial dreams.
®
We are actively involved in every community we serve. We dedicate our resources, both human
and financial, to help make the places where we live and work better, not only for current
generations, but also for generations yet to come.
Our continuing support of our communities, both financially and through the volunteer service of
our employees, has helped build great places to live for both our customers and our fellow
employees. During 2015, we donated more than $800,000 to community organizations involved in
a wide variety of civic activities, including economic development, affordable housing, job creation,
education, cultural enrichment, medical research, and health care.
Community Trust employees provide leadership, monetary support, and countless volunteer hours
to many exceptional local community organizations in all of the communities we serve. Our
employees are active in a wide variety of community organizations, including Chambers of
Commerce, United Way, One East Kentucky, YMCA, American Cancer Society's Relay For Life,
Habitat for Humanity, Kentucky Blood Center, Diabetes Coalition, March of Dimes, little league
sports programs, Boy and Girl Scouts of America, The Salvation Army, volunteer fire departments,
home realtor and builder organizations, and independent and state supported colleges and
universities. Our employees volunteer thousands of hours each year to these and other excellent
local community organizations. In 2015, Community Trust continued to actively support the new
organization SOAR (Shaping Our Appalachian Region) which was created to expand job
opportunities; enhance the economy of the region; encourage innovation, entrepreneurship,
geographic cooperation, and a diversified workforce; improve the quality of life of our citizens; and
support all those working to achieve these goals. Community Trust has partnered with SOAR since
its inception with support, including service in leadership positions and providing office space for its
Pikeville, Kentucky headquarters.
Community Trust is dedicated to helping our communities grow and prosper now and in the future,
and we are proud to be a part of our hometowns across Kentucky, West Virginia, and Tennessee.
CTBI Cash Contributions
$811,000
$819,000
$854,000
$753,000
$621,000
2011
2012
2013
2014
2015
11
2015
Annual
Report
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
Executive Committee
JEAN R. HALE
Chairman, President
and CEO
Community Trust Bancorp, Inc.
Chairman
Community Trust Bank, Inc. and
Community Trust and
Investment Company
MARK A. GOOCH
Executive Vice President and
Secretary
Community Trust Bancorp, Inc.
Director, President and CEO
Community Trust Bank, Inc.
Director and Vice President
Community Trust and
Investment Company
ANDY WATERS
Executive Vice President
Community Trust Bancorp, Inc.
Director, President and CEO
Community Trust and Investment
Company
JAMES B. DRAUGHN
Executive Vice President
Community Trust Bancorp, Inc.
Executive Vice
President/Operations
Community Trust Bank, Inc.
JAMES J. GARTNER
Executive Vice President
Community Trust Bancorp, Inc.
Executive Vice President/
Chief Credit Officer
Community Trust Bank, Inc.
C. WAYNE HANCOCK II
Executive Vice President
Community Trust Bancorp, Inc.
Executive Vice President/
Senior Staff Attorney
Community Trust Bank, Inc.
*
STEVEN E. JAMESON
Executive Vice President
Community Trust Bancorp, Inc.
Executive Vice President/Chief
Internal Audit & Risk Officer
Community Trust Bank, Inc.
ANDREW JONES
Executive Vice President
Community Trust Bancorp, Inc.
Executive Vice President/
Northeastern Region President
Community Trust Bank, Inc.
LARRY W. JONES
Executive Vice President
Community Trust Bancorp, Inc.
Executive Vice President/
Central Kentucky Region President
Community Trust Bank, Inc.
RICHARD W. NEWSOM
Executive Vice President
Community Trust Bancorp, Inc.
Executive Vice President/
Eastern Region President
Community Trust Bank, Inc.
RICKY D. SPARKMAN
Executive Vice President
Community Trust Bancorp, Inc.
Executive Vice President/South
Central Region President
Community Trust Bank, Inc.
KEVIN J. STUMBO
Executive Vice President, CFO and Treasurer
Community Trust Bancorp, Inc.
Executive Vice President/CFO
Community Trust Bank, Inc.
Vice President
Community Trust and
Investment Company
12
2015
Annual
Report
* Non-voting Member
Boards of Directors
**
***
*
**
***
JEAN R. HALE
Chairman, President and CEO
Community Trust Bancorp, Inc.
Chairman
Community Trust Bank, Inc. and
Community Trust and Investment
Company
***
MARK A. GOOCH
Executive Vice President and
Secretary
Community Trust Bancorp, Inc.
Director, President and CEO
Community Trust Bank, Inc.
Director and Vice President
Community Trust and Investment
Company
ANDY WATERS
Executive Vice President
Community Trust Bancorp, Inc.
Director, President and CEO
Community Trust and Investment
Company
*
***
CHARLES J. BAIRD
President
Baird & Baird, P.S.C.
Pikeville, Kentucky
**
J. MARK CAMPBELL
President
Pevler Coal Sales Company, Inc.
Pikeville, Kentucky
*
NICK CARTER
Private Investor
**
DAVID E. COLLINS
Managing Partner
Collins & Love, CPA's
Pikeville, Kentucky
***
E.B. LOWMAN II
President
Cardinal Management Ltd.
Ashland, Kentucky
KRISHNA M. MALEMPATI
Vice President
OM Ventures Inc.
General Partner
Parkhills Shopping Center
Lexington, Kentucky
JAMES E. MCGHEE II
President
Three JC Investments
Pikeville, Kentucky
FRANKY MINNIFIELD
President
Minnifield Enterprize, Inc.
Lexington, Kentucky
M. LYNN PARRISH
President
Marwood Land Company, Inc.
Pikeville, Kentucky
*
DR. JAMES R. RAMSEY
President
University of Louisville
Louisville, Kentucky
*
ANTHONY W. ST. CHARLES
President and Chief Executive Officer
A. W. St. Charles & Associates, Inc.
Cincinnati, Ohio
Boards of Directors
Community Trust Bancorp, Inc.
Community Trust Bank, Inc.
Community Trust and Investment Company
13
2015
Annual
Report
Advisory Board Members
Central Region
Larry W. Jones
Regional President
Eastern Region
Northeastern Region
South Central Region
Richard Newsom
Regional President
Andrew Jones
Regional President
Lexington
Versailles
Pikeville*
Ashland
Rodney Mitchell
Market President
Robert Cleveland
Alice Kiviniemi
Mark Wainwright, M.D.
Winchester
David Wills
Market President
Thomas R. Goebel
Carl E. Jennings
Robert M. Powe, Jr.
David W. Underhill
Gardner D. Wagers
William Brett Keene
Market President
Andrew Jones
Regional President
Floyd/Knott/Johnson*
David Tackett
Market President
Hazard
Paul Daniels, Sr.
Kurt Jaenicke, M.D.
E. B. Lowman II
E. B. Lowman III
John McMeans
Ann Perkins
Janice Brafford-King
Market President
Advantage Valley
William Bettinazzi
Frances Feltner
Meriwether W. Hall
Charles Housley
Barry Martin
Syamala H. K. Reddy, M.D.
Tim Short
Alan Dale Williams
Tug Valley
Duanne Thompson
Market President
William F. Blackburn III
James H. Caines
Timothy A. Hatfield
Philip Haywood
John Mark Hubbard
Paul E. Pinson
Whitesburg
Reed Caudill
Market President
Allen Burner
Market President
Randie G. Lawson
Christopher J. Plybon
Julian Saad
Steve Smith
William Jack Stevens
Flemingsburg
Emery O. Clark
Market President
Michael A. Boyd, M.D.
Steven Humphries
Duane Lowe
T. Scott Perkins, D.M.D.
James Sauer
J.E. Smith, Jr.
Frank Vice, D.V.M.
Summersville
Clovis Lawless
Market President
Herbert Caudill
Bill Joe Collier
Sam W. Quillen, Jr., D.M.D.
Pauline C. Ritter-Combs
Ellis Frame III
David Michael Hughes
Marshall Robinson
Larry W. Jones
Regional President
James C. Baughman, Jr.
Robert A. Branham
Linda A. Carroll
C. Glen Combs
Jenny Dulworth-Albert
Robert Kelly
Danville/Harrodsburg
David Maynard
Market President
Bob Allen
Scott Burks
James Walker Cox
Bob Davis
Bruce Harper
James G. Ingram
Alvis Johnson
Myrna Miller
Larry Scott, M.D.
Walter “Skip” Stocker
Mt. Sterling
Bill McKenna
Market President
Byron Amburgey
Marcus Shane Back
Jeff Brother
Reid Evans
O. Keith Gannon
Angela Patrick
E. Dale Sorrell
Richmond
Tim Houck
Market President
Terrell Cobb
Jeannette Crockett
Alison Emmons
David Fernandez
James H. Howard
Elizabeth McCarty
David McFaddin
Randall Stone
Ricky Sparkman
Regional President
Campbellsville
Ricky Sparkman
Regional President
Barry Bertram
Salem M. George, M.D.
Jerry Russell
John Waldrop
James Whitlock
LaFollette
Rhonda Longmire
Market President
George Ellison
James C. Farris, M.D.
Peggy Payne
Tom Robards
Conrad Troutman
Robert L. Woodson III
Middlesboro
Tim Helton
Market President
Marcum Brogan
Meredith J. Evans, M.D.
S. A. Mars, Jr.
Keith A. Nagle
Richard H. Tamer
Mt. Vernon
Michael Blount
Market President
Martha Cox
Connie Hunt
Gary W. Mink
Tommy Mink
Williamsburg
Ricky Sparkman
Regional President
R. Don Adkins
E. L. Ballou, D.M.D.
Ray F. Bryant
Joseph E. Early, Sr.
Paul Estes
Vernon B. Faulkner
Dallas B. Steely
Mark S. Stephens
Lonnie D. Walden
14
2015
Annual
Report
*These markets are served by the Community Trust Bank, Inc. Board of Directors.
Shareholders’ Information
Corporate Address
Community Trust Bancorp, Inc.
346 North Mayo Trail
P.O. Box 2947
Pikeville, KY 41502-2947
606.432.1414
www.ctbi.com
Notice of Annual Meeting
The annual meeting of the
shareholders will be held at
10:00 a.m. on April 26, 2016 at:
Community Trust Bancorp, Inc.
346 North Mayo Trail
Pikeville, Kentucky
Transfer Agent
Inquiries relating to shareholder records,
stock transfers, changes of ownership,
changes of address, and dividend payments
should be sent to the transfer agent at:
Broadridge Corporate Issuer Solutions, Inc.
P.O. Box 1342
Brentwood, NY 11717-0718
866.232.3034
720.358.3637 (International)
shareholder@broadridge.com
Inquiries may also be directed to
Community Trust Bancorp, Inc.'s Stock
Transfer Administrator, Marilyn Justice, at:
Community Trust Bank, Inc.
P.O. Box 2947
Pikeville, KY 41502-2947
606.437.3279
800.422.1090, ext. 3279 (Toll Free)
justicma@ctbi.com
Dividend Reinvestment
Community Trust Bancorp, Inc. offers its
shareholders an automatic dividend
reinvestment program. The program enables
shareholders to reinvest their dividends in shares
at the prevailing market price. For more
information, contact us at:
Community Trust Bancorp, Inc.
c/o Broadridge Corporate Issuer Solutions, Inc.
P.O. Box 1342
Brentwood, NY 11717-0718
866.232.3034
shareholder@broadridge.com
Form 10-K
CTBI's annual report on Form 10-K filed
with the Securities and Exchange Commission
is available without charge on our website at
www.ctbi.com or by writing:
Community Trust Bancorp, Inc.
Jean R. Hale
Chairman, President & CEO
P.O. Box 2947
Pikeville, KY 41502-2947
Registered Market Participants
Automated Trading Desk Financial Services,
LLC; Barclays Capital Inc./Le; BNY Mellon
Capital Markets, LLC; Cantor, Fitzgerald & Co.;
Citadel Securities LLC; Citigroup Global
Markets Inc.; Credit Suisse Securities USA; G1
Execution Services, LLC; Goldman, Sachs &
Co.; Keefe, Bruyette & Woods, Inc.; Knight
Capital Americas LLC; Latour Trading LLC;
Merrill Lynch, Pierce, Fenner & Smith, Inc.;
Morgan Stanley & Co. LLC; Sandler O'Neill &
Partners; Susquehanna Capital Group;
Susquehanna Securities; Timber Hill Inc.; Two
Sigma Securities, LLC; UBS Securities LLC;
Wells Fargo Securities, LLC.
15
2015
Annual
Report
Branch Locations
Central Region
Danville
Richmond
Danville Main Street
Danville Manor
Harrodsburg
462 W. Main St.
1560 Hustonville Rd.
570 Chestnut St.
859-239-9200
859-239-9460
859-734-4354
Eastern By-Pass
Richmond Main
Berea North
860 Eastern By-Pass
128 W. Main St.
525 Walnut Meadow Rd.
859-624-4622
859-623-2747
859-985-0561
Lexington
*
Lexington Vine
Beaumont
Hamburg
Leestown
Pasadena
Richmond Road
Mt. Sterling
Versailles
100 E. Vine St.
901 Beaumont Centre Pkwy.
2417 Sir Barton Way
109 Louie Place
185 Pasadena Dr., Suite 100
3090 Richmond Rd.
859-389-5350
859-223-1111
859-264-1938
859-258-2659
859-313-5425
859-269-0164
*
Versailles Main
Woodford Plaza
Frankfort East
Frankfort West
Georgetown Wal-Mart
101 N. Main St.
480 Lexington Rd.
427 Versailles Rd.
1205 S. Hwy. 127
112 Osbourne Way
859-879-5400
859-879-5480
502-848-0913
502-696-0720
502-863-4693
Winchester
Mt. Sterling Main
Mt. Sterling North
110 N. Maysville St.
196 Evans Dr.
859-498-5332
859-497-6981
Winchester Main
Winchester Plaza
120 S. Main St.
125 Winchester Plaza
859-745-7200
859-745-7200
Eastern Region
Floyd/Knott/Johnson
Allen
Floyd County
Paintsville Wal-Mart
Knott County
6424 Ky Rt. 1428
161 S. Lake Dr.
470 N. Mayo Trl.
107 W. Main St.
Hazard
Airport Gardens
Black Gold
Hazard Village
1665 Combs Rd.
100 Citizens Ln.
101 Village Ln.
606-874-0408
606-886-2382
606-788-9934
606-785-5095
606-487-2160
606-436-2157
606-487-2152
Tug Valley
Williamson
Tug Valley
101 E. 2nd Ave.
28160 US Hwy. 119
304-235-5454
606-237-6051
Northeastern Region
Advantage Valley
Alum Creek
Hamlin
Fort Gay
Pullman Square
Flemingsburg
315 Midway Rd.
8049 Lynn Ave.
3200 Court St.
952 3rd Ave.
304-756-3317
304-824-7223
304-648-7200
304-697-0272
Ewing
Flemingsburg Main
South Ridge
1527 Ewing Rd.
36 Brookhaven Dr.
108 Clark St.
606-267-2061
606-845-3551
606-849-2304
Pikeville
*
Elkhorn City
Marrowbone
Mouthcard
Phelps
Pikeville Main
Pikeville Main Street
Pikeville Wal-Mart
Town Mountain
Virgie
Weddington Plaza
Whitesburg
Whitesburg Main
West Whitesburg
Jenkins
Isom
Neon
Ashland
*
Ashland Main
South Ashland
Summit
Westwood
Russell
Summersville
211 Russell St.
10579 Regina Belcher Hwy.
32 N. Levisa Rd.
38720 State Hwy. 194 E.
346 N. Mayo Trl.
137 Main St. # 4
254 Cassidy Blvd.
105 Northgate Dr.
1056 KY Hwy. 610 W.
4205 North Mayo Trl.
155 Main St.
24 Pkwy. Plaza Loop
9505 Hwy. 805, Suite A
56 Isom Plaza
1001 Hwy. 317
606-754-5589
606-754-4462
606-835-4907
606-456-8701
606-432-1414
606-437-3326
606-437-0048
606-437-3323
606-639-4451
606-432-4529
606-633-0161
606-633-4532
606-832-2477
606-633-5995
606-855-4435
1544 Winchester Ave.
2101 29th St.
7100 US Route 60
721 Wheatley Rd.
970 Diederich Blvd.
606-329-6000
606-329-6600
606-928-9555
606-329-6610
606-329-6680
Summersville
507 Main St.
304-872-2711
South Central Region
Campbellsville
Campbellsville Main
First Street
Columbia
Greensburg
Lebanon
Somerset North
Somerset South
Jamestown
Williamsburg
1218 E. Broadway
315 E. 1st St.
1005 Jamestown St.
205 S. Main St.
521 W. Main St.
239 N. Hwy. 27
3809 S. Hwy. 27
752 N. Main St.
Williamsburg Main
Convenience Center
Corbin
London Main
London North
201 N. Third St.
895 S. Hwy. 25 W.
678 US Hwy. 25 W.
1706 Hwy. 192 W.
38 Shiloh Dr.
270-789-5900
270-789-5900
270-384-4771
270-932-7464
270-692-0064
606-679-8826
606-679-8446
270-343-2556
606-549-5000
606-539-2251
606-526-8777
606-877-2644
606-864-2439
Middlesboro
Middlesboro Main
Middlesboro East
Pineville
Mt. Vernon
1918 Cumberland Ave.
1206 E. Cumberland Ave.
11792 US Hwy. 25 E.
606-248-9600
606-248-9642
606-337-6122
Mt. Vernon Main
Mt. Vernon Downtown
2134 Lake Cumberland Rd.
120 Main St.
606-256-5141
606-256-5142
LaFollette
*
LaFollette Main
LaFollette Mall
Jacksboro
Clinton
106 S. Tennessee Ave.
2205 Jacksboro Pike
2603 Jacksboro Pike
2106 Charles G. Seivers Blvd.
423-562-3364
423-562-9918
423-566-7800
865-457-8684
*Community Trust and Investment Company has offices in these locations.
16
2015
Annual
Report
2016
for their
2015 Sales
& Service
Individual Success
Joan Abner
Donna Angel
Steve Belcher
Cindy Blanton
Mike Bonfield
Steven Booth
Janice Brafford-King
Allen Burner
John R. Caldwell
Gerrie Clark
Kellan Clark
Forrest Cook
Amy Pollock Dailey
Tina M. Davis
Halie Elswick
Dorothy Franklin
Tim Houck
Andrew Jarvis
Brett Keene
Robert Kelly
Savi Kumar
Clovis B. Lawless
Rhonda S. Longmire
Virginia Maggard
Dave Maynard
Charlene Miller
Gaylon D. Neat
Richard R. Newsome
Bruce Nichols
Tracy Osborne
Barry Pennington
Ricky Peterson
Edward Pope
Tiffany Reeder
Ty Reynolds
Melissa Rhodes
Jeremy Rigney
Amy Selvage
Erin Serrate
Tyler Shockey
Roger Smith
Willie T. Swatzell
Helena Syck
David Tackett
Cathy Taylor
Jody L. Thompson
Betty Tibbs
Bob Watson
Bethany Wiggins-Lagoe
David Wills
Nick Woods
Team Success
Ashland Main Office
Ashland Market
Berea North Office
Central Region
Eastern Region
Flemingsburg Main Office
Lexington Market
Northeastern Region
Pikeville Main Office
Pikeville Market
Richmond Main Office
Richmond Market
www.ctbi.com