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Fair Market Value of Financial Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2016
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 March 31, 2016 and December 31, 2015 and indicate the level within the fair value hierarchy of the valuation techniques.

     
Fair Value Measurements at
March 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
 
$
235,679
  
$
44,932
  
$
190,747
  
$
0
 
State and political subdivisions
  
125,802
   
0
   
125,802
   
0
 
U.S. government sponsored agency mortgage-backed securities
  
194,372
   
0
   
194,372
   
0
 
CRA investment funds
  
25,097
   
25,097
   
0
   
0
 
Mortgage servicing rights
  
2,908
   
0
   
0
   
2,908
 
 
     
Fair Value Measurements at
December 31, 2015 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
 
$
239,394
  
$
44,702
  
$
194,692
  
$
0
 
State and political subdivisions
  
129,215
   
0
   
129,215
   
0
 
U.S. government sponsored agency mortgage-backed securities
  
201,576
   
0
   
201,576
   
0
 
CRA investment funds
  
24,751
   
24,751
   
0
   
0
 
Mortgage servicing rights
  
3,236
   
0
   
0
   
3,236
 
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 months ended March 31, 2016 and 2015:

Mortgage Servicing Rights
   
  
Three Months Ended
March 31
 
 (in thousands)
 
2016
  
2015
 
Beginning balance
 
$
3,236
  
$
2,968
 
Total recognized losses
        
Included in net income
  
(380
)
  
(161
)
Issues
  
94
   
84
 
Settlements
  
(42
)
  
(94
)
Ending balance
 
$
2,908
  
$
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
 
$
(380
)
 
$
(161
)
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 tables above are included in net income in the consolidated statements of income as follows:

Noninterest Income
 
Three Months Ended
 
  
March 31
 
(in thousands)
 
2016
  
2015
 
Total losses
 
$
(422
)
 
$
(255
)
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 March 31, 2016 and December 31, 2015 and indicate the level within the fair value hierarchy of the valuation techniques.

     
Fair Value Measurements at
March 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)
 
$
4,516
  
$
0
  
$
0
  
$
4,516
 
Other real estate/assets owned
  
374
   
0
   
0
   
374
 

     
Fair Value Measurements at
December 31, 2015 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)
 
$
3,192
  
$
0
  
$
0
  
$
3,192
 
Other real estate/assets owned
  
6,798
   
0
   
0
   
6,798
 
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 March 31, 2016 and December 31, 2015.

(in thousands)
 
Quantitative Information about Level 3 Fair Value Measurements
 
  
Fair Value at March 31, 2016
 
Valuation Technique(s)
Unobservable Input
 
Range (Weighted Average)
 
Mortgage servicing rights
 
$
2,908
 
Discount cash flows, computer pricing model
Constant prepayment rate
  
0.0% - 25.7%
(11.1
%)
        
Probability of default
  
0.0% - 100.0%
(2.8
%)
        
Discount rate
  
10.0% - 11.5%
(10.1
%)
           
Impaired loans (collateral-dependent)
 
$
4,516
 
Market comparable properties
Marketability discount
  
0.0% - 82.5%
(28.4
%)
           
Other real estate/assets owned
 
$
374
 
Market comparable properties
Comparability adjustments
  
10.0% - 100.0%
(25.0
%)
 
(in thousands)
 
Quantitative Information about Level 3 Fair Value Measurements
 
  
Fair Value at December 31, 2015
 
Valuation Technique(s)
Unobservable Input
 
Range (Weighted Average)
 
Mortgage servicing rights
 
$
3,236
 
Discount cash flows, computer pricing model
Constant prepayment rate
  
6.1% - 22.4%
(10.0
%)
        
Probability of default
  
0.0% - 100.0%
(2.6
%)
        
Discount rate
  
10.0% - 11.5%
(10.1
%)
           
Impaired loans (collateral-dependent)
 
$
3,192
 
Market comparable properties
Marketability discount
  
0.0% - 76.7%
(26.8
%)
           
Other real estate/assets owned
 
$
6,798
 
Market comparable properties
Comparability adjustments
  
5.0% - 51.8%
(11.7
%)
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 March 31, 2016 and indicates the level within the fair value hierarchy of the valuation techniques.

     
Fair Value Measurements
at March 31, 2016 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
 
$
162,389
  
$
162,389
  
$
0
  
$
0
 
Certificates of deposit in other banks
  
1,596
   
0
   
1,600
   
0
 
Securities available-for-sale
  
580,950
   
70,029
   
510,921
   
0
 
Securities held-to-maturity
  
1,661
   
0
   
1,662
   
0
 
Loans held for sale
  
2,707
   
2,770
   
0
   
0
 
Loans, net
  
2,852,962
   
0
   
0
   
2,859,537
 
Federal Home Loan Bank stock
  
17,927
   
0
   
17,927
   
0
 
Federal Reserve Bank stock
  
4,887
   
0
   
4,887
   
0
 
Accrued interest receivable
  
11,896
   
0
   
11,896
   
0
 
Mortgage servicing rights
  
2,908
   
0
   
0
   
2,908
 
                 
Financial liabilities:
                
Deposits
 
$
3,034,218
  
$
757,830
  
$
2,255,575
  
$
0
 
Repurchase agreements
  
259,083
   
0
   
0
   
258,971
 
Federal funds purchased
  
5,851
   
0
   
5,851
   
0
 
Advances from Federal Home Loan Bank
  
1,028
   
0
   
1,116
   
0
 
Long-term debt
  
61,341
   
0
   
0
   
49,073
 
Accrued interest payable
  
1,391
   
0
   
1,391
   
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, 2015 and indicates the level within the fair value hierarchy of the valuation techniques.

 
(in thousands)
    
Fair Value Measurements
at December 31, 2015 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
 
$
187,611
  
$
187,611
  
$
0
  
$
0
 
Certificates of deposit in other banks
  
3,832
   
0
   
3,836
   
0
 
Securities available-for-sale
  
594,936
   
69,453
   
525,483
   
0
 
Securities held-to-maturity
  
1,661
   
0
   
1,651
   
0
 
Loans held for sale
  
1,172
   
1,196
   
0
   
0
 
Loans, net
  
2,837,867
   
0
   
0
   
2,833,267
 
Federal Home Loan Bank stock
  
17,927
   
0
   
17,927
   
0
 
Federal Reserve Bank stock
  
4,887
   
0
   
4,887
   
0
 
Accrued interest receivable
  
12,194
   
0
   
12,194
   
0
 
Mortgage servicing rights
  
3,236
   
0
   
0
   
3,236
 
                 
Financial liabilities:
                
Deposits
 
$
2,980,782
  
$
749,975
  
$
2,208,120
  
$
0
 
Repurchase agreements
  
251,225
   
0
   
0
   
250,873
 
Federal funds purchased
  
3,596
   
0
   
3,596
   
0
 
Advances from Federal Home Loan Bank
  
101,056
   
0
   
100,905
   
0
 
Long-term debt
  
61,341
   
0
   
0
   
49,073
 
Accrued interest payable
  
1,071
   
0
   
1,071
   
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