Exhibit 99.1

FOR IMMEDIATE RELEASE

January 16, 2019

FOR ADDITIONAL INFORMATION, PLEASE CONTACT JEAN R. HALE, CHAIRMAN, PRESIDENT, AND C.E.O., COMMUNITY TRUST BANCORP, INC. AT (606) 437-3294

Pikeville, Kentucky:

COMMUNITY TRUST BANCORP, INC. REPORTS RECORD EARNINGS FOR THE YEAR 2018

Earnings Summary
(in thousands except per share data)	4Q 2018			3Q 2018			4Q 2017			Year 2018			Year 2017
Net income	$	15,709		$	16,106		$	14,912		$	59,228		$	51,493
Earnings per share	$	0.89		$	0.91		$	0.84		$	3.35		$	2.92
Earnings per share - diluted	$	0.89		$	0.91		$	0.84		$	3.35		$	2.92

Return on average assets		1.48	%		1.52	%		1.43	%		1.41	%		1.27	%
Return on average equity		11.16	%		11.62	%		11.18	%		10.83	%		9.93	%
Efficiency ratio		58.04	%		57.33	%		57.76	%		60.17	%		58.66	%
Tangible common equity		12.06	%		11.80	%		11.43	%

Dividends declared per share	$	0.36		$	0.36		$	0.33		$	1.38		$	1.30
Book value per share	$	31.81		$	31.04		$	30.00

Weighted average shares		17,696			17,691			17,650			17,687			17,631
Weighted average shares - diluted		17,714			17,710			17,674			17,703			17,653

Community Trust Bancorp, Inc. (NASDAQ-CTBI) reports earnings for the fourth quarter 2018 of $15.7 million, or $0.89 per basic share, compared to $16.1 million, or $0.91 per basic share, earned during the third quarter 2018 and $14.9 million, or $0.84 per basic share, earned during the fourth quarter 2017. Earnings for the year ended December 31, 2018 were a record $59.2 million, or $3.35 per basic share, compared to $51.5 million or $2.92 per basic share earned during the year ended December 31, 2017.

4^th Quarter 2018 Highlights

●	Net interest income for the quarter of $36.3 million was an increase of $0.1 million, or 0.4%, from third quarter 2018 and $1.2 million, or 3.4%, from prior year fourth quarter.

●	Provision for loan losses for the quarter ended December 31, 2018 increased $0.2 million from prior quarter but decreased $1.1 million from prior year same quarter.

●	Our loan portfolio increased $30.8 million, an annualized 3.8%, during the quarter and $85.7 million, or 2.7%, from December 31, 2017.

●	Net loan charge-offs for the quarter ended December 31, 2018 were $1.6 million, or 0.20% of average loans annualized, compared to $1.5 million, or 0.19%, experienced for the third quarter 2018 and $3.1 million, or 0.39%, for the fourth quarter 2017.

●	Nonperforming loans at $22.1 million increased $1.0 million from September 30, 2018 but decreased $6.2 million from December 31, 2017. Nonperforming assets at $49.4 million decreased $1.4 million from September 30, 2018 and $11.1 million from December 31, 2017.

●	Deposits, including repurchase agreements, increased $14.0 million during the quarter and $31.0 million from December 31, 2017.

●

Income tax expense continues to be positively impacted by the change in the corporate income tax rate from 35% to 21%. We utilize various tax exempt investments and loans, including municipal bonds, bank owned life insurance, and low income housing projects, to lower our effective income tax rate. With the current tax laws, our effective tax rate for the year ended December 31, 2018 was 16% compared to 28% for the year ended December 31, 2017.

Net Interest Income

Net interest income for the quarter of $36.3 million was an increase of $0.1 million, or 0.4%, from third quarter 2018 and $1.2 million, or 3.4%, from prior year fourth quarter. Our net interest margin at 3.68% was flat to prior quarter but increased 3 basis points from prior year same quarter, while our average earning assets increased $18.9 million and $68.1 million, respectively, during those same periods. Our yield on average earning assets increased 14 basis points from prior quarter and 36 basis points from prior year same quarter, and our cost of funds increased 21 basis points from prior quarter and 47 basis points from prior year same quarter. Our ratio of average loans to deposits, including repurchase agreements, was 89.8% for the quarter ended December 31, 2018 compared to 89.5% for the quarter ended September 30, 2018 and 89.1% for the quarter ended December 31, 2017. Net interest income for the year ended December 31, 2018 increased $4.8 million from December 31, 2017 with a 1 basis point decrease in our net interest margin and a $114.5 million increase in average earning assets.

Noninterest Income

Noninterest income for the quarter ended December 31, 2018 of $12.2 million was a decrease of $0.4 million, or 3.3%, from prior quarter and $0.2 million, or 1.4%, from prior year same quarter. The decrease in noninterest income was primarily the result of a decrease in loan related fees due to a decline in the fair value of our mortgage servicing rights. Noninterest income for the year ended December 31, 2018 was a $3.4 million, or 7.1%, increase from prior year. Year over year noninterest income has been positively impacted by increases in deposit service charges ($0.9 million), trust revenue ($0.9 million), and bank owned life insurance income ($1.5 million).

Noninterest Expense

Noninterest expense for the quarter ended December 31, 2018 of $28.2 million increased $0.1 million, or 0.2%, from prior quarter, and $0.4 million, or 1.6%, from prior year same quarter. The variance in noninterest expense from prior year same quarter was primarily due to increases in taxes other than property and payroll ($0.4 million) and net other real estate owned expense ($0.5 million), partially offset by a decrease in personnel expense ($0.5 million). The decrease in personnel expense was due to the 2017 one-time bonus to employees as a result of the positive impact on income tax expense during the period. Noninterest expense for the year ended December 31, 2018 was $117.4 million, a $7.5 million, or 6.8%, increase over the year 2017. The year over year increase included a $2.7 million increase in personnel expense and a $1.1 million increase in taxes other than income, property, and payroll, in addition to the $3.6 million customer reimbursement expense discussed in the second quarter 10-Q related to two deposit add-on products. The increase in personnel expense included increases in salaries ($0.7 million), bonuses ($0.2 million), and the cost of group medical and life insurance ($1.4 million).

Balance Sheet Review

CTBI’s total assets at $4.2 billion increased $27.8 million, or 2.6% annualized, from September 30, 2018 and $65.4 million, or 1.6%, from December 31, 2017. Loans outstanding at December 31, 2018 were $3.2 billion, an increase of $30.8 million, or an annualized 3.8%, from September 30, 2018 and $85.7 million, or 2.7%, from December 31, 2017. We experienced an increase during the quarter of $31.0 million in the commercial loan portfolio and $3.2 million in the indirect loan portfolio, offset by decreases of $1.7 million in both the residential and consumer loan portfolios. CTBI’s investment portfolio increased $25.7 million, or an annualized 17.9%, from September 30, 2018 and $9.1 million, or 1.6%, from December 31, 2017. Deposits in other banks decreased $35.6 million from prior quarter and $57.9 million from prior year-end. Deposits, including repurchase agreements, at $3.5 billion increased $14.0 million, or an annualized 1.6%, from September 30, 2018 and $31.0 million, or 0.9%, from December 31, 2017.

Shareholders’ equity at December 31, 2018 was $564.2 million, a 10.0% annualized increase from the $550.3 million at September 30, 2018 and a 6.3% increase from the $530.7 million at December 31, 2017. CTBI’s annualized dividend yield to shareholders as of December 31, 2018 was 3.64%.

Asset Quality

CTBI’s total nonperforming loans, not including performing troubled debt restructurings, were $22.1 million, or 0.69% of total loans, at December 31, 2018 compared to $21.0 million, or 0.66% of total loans, at September 30, 2018 and $28.3 million, or 0.91% of total loans, at December 31, 2017. Accruing loans 90+ days past due increased $2.2 million from prior quarter but remained relatively flat compared to December 31, 2017. Nonaccrual loans decreased $1.2 million during the quarter and $6.3 million from December 31, 2017. Accruing loans 30-89 days past due at $22.7 million was a decrease of $5.5 million from September 30, 2018 but increased $3.3 million from December 31, 2017. Our loan portfolio management processes focus on the immediate identification, management, and resolution of problem loans to maximize recovery and minimize loss. Impaired loans, loans not expected to meet contractual principal and interest payments other than insignificant delays, at December 31, 2018 totaled $46.4 million, compared to $46.9 million at September 30, 2018 and $47.4 million at December 31, 2017.

Our level of foreclosed properties at $27.3 million at December 31, 2018 was a $2.4 million decrease from the $29.7 million at September 30, 2018 and a $4.7 million decrease from the $32.0 million at December 31, 2017. Sales of foreclosed properties for the quarter ended December 31, 2018 totaled $3.6 million while new foreclosed properties totaled $1.8 million. At December 31, 2018, the book value of properties under contracts to sell was $3.3 million; however, the closings had not occurred at year-end. Write-downs on foreclosed properties for the fourth quarter 2018 totaled $0.5 million compared to $0.7 million in the third quarter 2018 and $0.2 in the fourth quarter 2017. Write-downs for the year 2018 were $2.5 million compared to $3.0 million for the year 2017.

Net loan charge-offs for the quarter ended December 31, 2018 were $1.6 million, or 0.20% of average loans annualized, compared to $1.5 million, or 0.19%, experienced for the third quarter 2018 and $3.1 million, or 0.39%, for the fourth quarter 2017. Of the net charge-offs for the quarter, $0.3 million were in commercial loans, $0.7 million were in indirect auto loans, $0.4 million were in residential loans, and $0.2 million were in consumer direct loans. Allocations to loan loss reserves were $1.7 million for the quarter ended December 31, 2018 compared to $1.5 million for the quarter ended September 30, 2018 and $2.9 million for the quarter ended December 31, 2017. Our reserve coverage (allowance for loan and lease loss reserve to nonperforming loans) at September 30, 2018 was 162.7% compared to 170.1% at September 30, 2018 and 127.8% at December 31, 2017. Our loan loss reserve as a percentage of total loans outstanding at December 31, 2018 was 1.12%, down from the 1.13% at September 30, 2018 and 1.16% at December 31, 2017.

Forward-Looking Statements

Certain of the statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Community Trust Bancorp, Inc.’s (“CTBI”) actual results may differ materially from those included in the forward-looking statements. Forward-looking statements are typically identified by words or phrases such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “may increase,” “may fluctuate,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” and “could.” These forward-looking statements involve risks and uncertainties including, but not limited to, economic conditions, portfolio growth, the credit performance of the portfolios, including bankruptcies, and seasonal factors; changes in general economic conditions including the performance of financial markets, prevailing inflation and interest rates, realized gains from sales of investments, gains from asset sales, and losses on commercial lending activities; results of various investment activities; the effects of competitors’ pricing policies, changes in laws and regulations, competition, and demographic changes on target market populations’ savings and financial planning needs; industry changes in information technology systems on which we are highly dependent; failure of acquisitions to produce revenue enhancements or cost savings at levels or within the time frames originally anticipated or unforeseen integration difficulties; and the resolution of legal proceedings and related matters. In addition, the banking industry in general is subject to various monetary, operational, and fiscal policies and regulations, which include, but are not limited to, those determined by the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Consumer Financial Protection Bureau, and state regulators, whose policies and regulations could affect CTBI’s results. These statements are representative only on the date hereof, and CTBI undertakes no obligation to update any forward-looking statements made.

Community Trust Bancorp, Inc., with assets of $4.2 billion, is headquartered in Pikeville, Kentucky and has 69 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.

Additional information follows.

Community Trust Bancorp, Inc.
Financial Summary (Unaudited)
December 31, 2018
(in thousands except per share data and # of employees)

	Three			Three			Three			Twelve			Twelve
	Months			Months			Months			Months			Months
	Ended			Ended			Ended			Ended			Ended
	December 31, 2018			September 30, 2018			December 31, 2017			December 31, 2018			December 31, 2017
Interest income	$	45,238		$	43,607		$	40,673		$	171,450		$	155,696
Interest expense		8,958			7,471			5,571			29,295			18,294
Net interest income		36,280			36,136			35,102			142,155			137,402
Loan loss provision		1,749			1,543			2,862			6,167			7,521

Gains on sales of loans		386			319			423			1,288			1,320
Deposit service charges		6,602			6,671			6,463			25,974			25,121
Trust revenue		2,663			2,836			2,684			11,313			10,453
Loan related fees		644			1,022			1,108			3,729			3,678
Securities gains (losses)		203			(2	)		15			(85	)		73
Other noninterest income		1,741			1,817			1,723			9,733			7,863
Total noninterest income		12,239			12,663			12,416			51,952			48,508

Personnel expense		15,257			15,264			15,782			61,562			58,829
Occupancy and equipment		2,698			2,744			2,804			11,045			11,121
Data processing expense		1,715			1,695			1,782			6,680			7,100
FDIC insurance premiums		264			314			316			1,171			1,239
Other noninterest expense		8,238			8,089			7,052			36,940			31,589
Total noninterest expense		28,172			28,106			27,736			117,398			109,878

Net income before taxes		18,598			19,150			16,920			70,542			68,511
Income taxes		2,889			3,044			2,008			11,314			17,018
Net income	$	15,709		$	16,106		$	14,912		$	59,228		$	51,493

Memo: TEQ interest income	$	45,462		$	43,833		$	41,186		$	172,352		$	157,722

Average shares outstanding		17,696			17,691			17,650			17,687			17,631
Diluted average shares outstanding		17,714			17,710			17,674			17,703			17,653
Basic earnings per share	$	0.89		$	0.91		$	0.84		$	3.35		$	2.92
Diluted earnings per share	$	0.89		$	0.91		$	0.84		$	3.35		$	2.92
Dividends per share	$	0.36		$	0.36		$	0.33		$	1.38		$	1.30

Average balances:
Loans	$	3,191,980		$	3,167,357		$	3,116,070		$	3,150,878		$	3,048,879
Earning assets		3,937,106			3,918,183			3,869,028			3,913,596			3,799,128
Total assets		4,217,158			4,190,768			4,141,555			4,187,397			4,068,970
Deposits, including repurchase agreements		3,555,292			3,539,482			3,498,571			3,540,717			3,406,627
Interest bearing liabilities		2,794,216			2,789,473			2,778,996			2,796,092			2,734,076
Shareholders' equity		558,632			549,837			529,334			546,641			518,767

Performance ratios:
Return on average assets		1.48	%		1.52	%		1.43	%		1.41	%		1.27	%
Return on average equity		11.16	%		11.62	%		11.18	%		10.83	%		9.93	%
Yield on average earning assets (tax equivalent)		4.58	%		4.44	%		4.22	%		4.40	%		4.15	%
Cost of interest bearing funds (tax equivalent)		1.27	%		1.06	%		0.80	%		1.05	%		0.67	%
Net interest margin (tax equivalent)		3.68	%		3.68	%		3.65	%		3.66	%		3.67	%
Efficiency ratio (tax equivalent)		58.04	%		57.33	%		57.76	%		60.17	%		58.66	%

Loan charge-offs	$	2,667		$	2,828		$	3,962		$	10,998		$	11,085
Recoveries		(1,035	)		(1,305	)		(860	)		(4,588	)		(3,782	)
Net charge-offs	$	1,632		$	1,523		$	3,102		$	6,410		$	7,303

Market Price:
High	$	46.86		$	52.80		$	51.90		$	53.00		$	51.90
Low	$	35.70		$	45.65		$	45.00		$	35.70		$	40.33
Close	$	39.61		$	46.35		$	47.10		$	39.61		$	47.10

Community Trust Bancorp, Inc.

Financial Summary (Unaudited)

December 31, 2018

(in thousands except per share data and # of employees)

	As of			As of			As of
	December 31, 2018			September 30, 2018			December 31, 2017
Assets:
Loans	$	3,208,638		$	3,177,888		$	3,122,940
Loan loss reserve		(35,908	)		(35,791	)		(36,151	)
Net loans		3,172,730			3,142,097			3,086,789
Loans held for sale		2,461			1,029			1,033
Securities AFS		594,919			569,208			585,761
Securities HTM		649			659			659
Other equity investments		19,600			19,600			22,814
Other earning assets		82,585			124,413			139,392
Cash and due from banks		64,632			53,912			47,528
Premises and equipment		45,291			45,808			46,318
Goodwill and core deposit intangible		65,490			65,490			65,490
Other assets		153,259			151,627			140,447
Total Assets	$	4,201,616		$	4,173,843		$	4,136,231

Liabilities and Equity:
NOW accounts	$	56,964		$	59,379		$	51,218
Savings deposits		1,294,037			1,190,977			1,108,572
CD's >=$100,000		598,125			624,801			702,218
Other time deposits		553,508			571,685			610,925
Total interest bearing deposits		2,502,634			2,446,842			2,472,933
Noninterest bearing deposits		803,316			826,804			790,930
Total deposits		3,305,950			3,273,646			3,263,863
Repurchase agreements		232,712			250,983			243,814
Other interest bearing liabilities		60,957			61,433			67,498
Noninterest bearing liabilities		37,847			37,517			30,357
Total liabilities		3,637,466			3,623,579			3,605,532
Shareholders' equity		564,150			550,264			530,699
Total Liabilities and Equity	$	4,201,616		$	4,173,843		$	4,136,231

Ending shares outstanding		17,733			17,728			17,693
Memo: Market value of HTM securities	$	649		$	660		$	660

30 - 89 days past due loans	$	22,682		$	28,172		$	19,388
90 days past due loans		10,198			8,005			10,176
Nonaccrual loans		11,867			13,032			18,119
Restructured loans (excluding 90 days past due and nonaccrual)		56,328			58,008			53,010
Foreclosed properties		27,273			29,666			31,996
Other repossessed assets		42			54			155

Common equity Tier 1 capital		16.27	%		16.08	%		15.33	%
Tier 1 leverage ratio		13.51	%		13.37	%		12.89	%
Tier 1 risk-based capital ratio		18.12	%		17.94	%		17.22	%
Total risk based capital ratio		19.29	%		19.11	%		18.41	%
Tangible equity to tangible assets ratio		12.06	%		11.80	%		11.43	%
FTE employees		978			979			990