Exhibit 99.1

FOR IMMEDIATE RELEASE

April 17, 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 EARNINGS FOR THE FIRST QUARTER 2019

Earnings Summary
(in thousands except per share data)	1Q 2019			4Q 2018			1Q 2018
Net income	$	14,939		$	15,709		$	15,814
Earnings per share	$	0.84		$	0.89		$	0.89
Earnings per share - diluted	$	0.84		$	0.89		$	0.89

Return on average assets		1.42	%		1.48	%		1.55	%
Return on average equity		10.58	%		11.16	%		12.00	%
Efficiency ratio		60.57	%		58.04	%		59.24	%
Tangible common equity		12.05	%		12.06	%		11.43	%

Dividends declared per share	$	0.36		$	0.36		$	0.33
Book value per share	$	32.50		$	31.81		$	30.33

Weighted average shares		17,712			17,696			17,671
Weighted average shares - diluted		17,723			17,714			17,687

Community Trust Bancorp, Inc. (NASDAQ-CTBI) reports earnings for the first quarter 2019 of $14.9 million, or $0.84 per basic share, compared to $15.7 million, or $0.89 per basic share, earned during the fourth quarter 2018 and $15.8 million, or $0.89 per basic share, earned during the first quarter 2018.

1^st Quarter 2019 Highlights

●	Net interest income for the quarter of $36.0 million was a decrease of $0.3 million, or 0.8%, from fourth quarter 2018 but an increase of $1.4 million, or 4.0%, from prior year first quarter.

●	Provision for loan losses for the quarter ended March 31, 2019 decreased $1.6 million from prior quarter and $0.8 million from prior year same quarter with improvement in charge-offs and credit metrics combined with a decline in loan volume during the quarter.

●	Our loan portfolio decreased $18.9 million, an annualized 2.4%, during the quarter but increased $71.5 million, or 2.3%, from March 31, 2018.

●	Net loan charge-offs for the quarter ended March 31, 2019 were $1.1 million, or 0.14% of average loans annualized, compared to $1.6 million, or 0.20%, experienced for the fourth quarter 2018 and $1.9 million, or 0.25%, for the first quarter 2018.

●	Nonperforming loans at $25.4 million increased $3.3 million from December 31, 2018 but decreased $0.6 million from March 31, 2018. Nonperforming assets at $50.4 million increased $1.0 million from December 31, 2018 but decreased $7.7 million from March 31, 2018.

●	Deposits, including repurchase agreements, increased $81.9 million, an annualized 9.4%, during the quarter and $56.1 million, or 1.6%, from March 31, 2018.

●

●	Noninterest expense for the quarter ended March 31, 2019 of $29.1 million increased $0.9 million, or 3.2%, from prior quarter, and $0.4 million, or 1.4%, from prior year same quarter. The increase in noninterest expense was primarily due to increased personnel expense.

●

In March 2019, Kentucky enacted legislation requiring financial institutions to transition from a bank franchise tax to the Kentucky corporate income tax beginning in 2021. As a result, we booked a one time charge of $1.0 million, or $0.06 per basic share, to income tax expense to recognize our Kentucky deferred tax liability at March 31, 2019. While this liability will be adjusted periodically, we do not anticipate any further adjustments to have a significant impact to income.

Net Interest Income

Net interest income for the quarter of $36.0 million was a decrease of $0.3 million, or 0.8%, from fourth quarter 2018 but an increase of $1.4 million, or 4.0%, from prior year first quarter. Our net interest margin at 3.70% was an increase of 2 basis points from prior quarter and 5 basis points from prior year same quarter, while our average earning assets increased $29.4 million and $96.2 million, respectively, during those same periods. Our yield on average earning assets increased 13 basis points from prior quarter and 43 basis points from prior year same quarter, and our cost of funds increased 16 basis points from prior quarter and 56 basis points from prior year same quarter. Our ratio of average loans to deposits, including repurchase agreements, was 89.9% for the quarter ended March 31, 2019 compared to 89.8% for the quarter ended December 31, 2018 and 88.6% for the quarter ended March 31, 2018.

Noninterest Income

Noninterest income for the quarter ended March 31, 2019 of $12.2 million was relatively flat to prior quarter, but a decrease of $1.1 million, or 8.6%, from prior year same quarter. The decrease in noninterest income from prior year was primarily the result of $1.2 million in death benefits received on bank owned life insurance in the first quarter 2018. Noninterest income for the quarter was also impacted by decreased deposit service charges ($0.1 million), trust revenue ($0.4 million), and loan related fees ($0.6 million) year over year, offset by a positive variance in securities gains of $0.6 million and miscellaneous income of $0.5 million resulting from an adjustment of a mortgage servicing account held by a third party. The decrease in loan related fees was the result of a decline in the fair value of our mortgage servicing rights.

Noninterest Expense

Noninterest expense for the quarter ended March 31, 2019 of $29.1 million increased $0.9 million, or 3.2%, from prior quarter, and $0.4 million, or 1.4%, from prior year same quarter. The increase in noninterest expense was primarily due to increased personnel expense. The $0.7 million quarter over quarter increase in personnel expense included increases in salaries ($0.3 million), bonuses ($0.5 million), and related taxes ($0.2 million), partially offset by a decrease in the cost of group medical and life insurance ($0.3 million). The $0.3 million prior year same quarter variance in personnel expense was primarily due to increased salaries ($0.5 million) and other employee benefits ($0.1 million), offset by a $0.4 million decrease in the cost of group medical and life insurance.

Balance Sheet Review

CTBI’s total assets at $4.3 billion increased $111.7 million, or 10.8% annualized, from December 31, 2018 and $117.6 million, or 2.8%, from March 31, 2018. Loans outstanding at March 31, 2019 were $3.2 billion, a decrease of $18.9 million, an annualized 2.4%, from December 31, 2018 but an increase of $71.5 million, or 2.3%, from March 31, 2018. We experienced an increase during the quarter of $2.8 million in the commercial loan portfolio, offset by decreases of $15.7 million in the indirect loan portfolio, $3.6 million in the residential loan portfolio, and $2.4 million in the consumer loan portfolio. CTBI’s investment portfolio increased $5.9 million, or an annualized 4.0%, from December 31, 2018 but decreased $4.1 million, or 0.7%, from March 31, 2018. Deposits in other banks increased $121.9 million from prior quarter and $43.8 million from prior year same quarter, as the yield earned was favorable to other investment alternatives. Deposits, including repurchase agreements, at $3.6 billion increased $81.9 million, or an annualized 9.4%, from December 31, 2018 and $56.1 million, or 1.6%, from March 31, 2018.

Shareholders’ equity at March 31, 2019 was $577.4 million, a 9.5% annualized increase from the $564.1 million at December 31, 2018 and a 7.4% increase from the $537.5 million at March 31, 2018. CTBI’s annualized dividend yield to shareholders as of March 31, 2019 was 3.51%.

Asset Quality

CTBI’s total nonperforming loans, not including performing troubled debt restructurings, were $25.4 million, or 0.80% of total loans, at March 31, 2019 compared to $22.1 million, or 0.69% of total loans, at December 31, 2018 and $25.9 million, or 0.83% of total loans, at March 31, 2018. Accruing loans 90+ days past due increased $2.8 million from prior quarter and $4.0 million from March 31, 2018. The increase in accruing loans 90+ days past due is primarily attributable to two commercial credit relationships which are income-producing, well-collateralized, and in the process of collection. Nonaccrual loans increased $0.5 million during the quarter but decreased $4.5 million from December 31, 2018. Accruing loans 30-89 days past due at $21.8 million was a decrease of $0.9 million from prior quarter but an increase of $4.9 million from March 31, 2018. 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 March 31, 2019 totaled $50.4 million, compared to $46.4 million at December 31, 2018 and $48.2 million at March 31, 2018.

Our level of foreclosed properties at $25.0 million at March 31, 2019 was a $2.3 million decrease from the $27.3 million at December 31, 2018 and a $7.0 million decrease from the $32.0 million at March 31, 2018. Sales of foreclosed properties for the quarter ended March 31, 2019 totaled $2.7 million while new foreclosed properties totaled $0.9 million. At March 31, 2019, the book value of properties under contracts to sell was $3.0 million; however, the closings had not occurred at quarter-end. Write-downs on foreclosed properties for the first quarter 2019 totaled $0.4 million compared to $0.5 million in the fourth quarter 2018 and $0.5 million in the first quarter 2018. As disclosed in our Form 10-K for the year ended December 31, 2018, CTBI is required to dispose of any foreclosed property that has not been sold within 10 years. As of December 31, 2018, foreclosed property with a total book value of $2.4 million had been held by us for at least nine years. During the first quarter 2019, $1.0 million of this total was disposed of with a gain of $0.1 million. At March 31, 2019, foreclosed property with a total book value of $1.3 million had been held by us for at least nine years.

Net loan charge-offs for the quarter ended March 31, 2019 were $1.1 million, or 0.14% of average loans annualized, compared to $1.6 million, or 0.20%, experienced for the fourth quarter 2018 and $1.9 million, or 0.25%, for the first quarter 2018. Of the net charge-offs for the quarter, $0.2 million were in commercial loans, $0.7 million were in indirect auto loans, $0.1 million were in residential loans, and $0.1 million were in consumer direct loans. Allocations to loan loss reserves were $0.2 million for the quarter ended March 31, 2019 compared to $1.7 million for the quarter ended December 31, 2018 and $0.9 million for the quarter ended March 31, 2018. Our reserve coverage (allowance for loan and lease loss reserve to nonperforming loans) at March 31, 2019 was 137.8% compared to 162.7% at December 31, 2018 and 135.6% at March 31, 2018. Our loan loss reserve as a percentage of total loans outstanding at March 31, 2019 was 1.10%, down from the 1.12% at December 31, 2018 and 1.13% at March 31, 2018. The decrease in our provision for loan losses was driven by the improvement in our twelve quarter performance metrics used in determining the allowance for loan losses, along with the 14 basis points in annualized net charge-offs for the quarter. The twelve quarter performance metrics that have contributed to the majority of the reduction in required reserves include: (1) historical losses, (2) delinquency trends, and (3) interest rate risks associated with rising interest rates.

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 $4.3 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)
March 31, 2019
(in thousands except per share data and # of employees)

	Three			Three			Three
	Months			Months			Months
	Ended			Ended			Ended
	March 31, 2019			December 31, 2018			March 31, 2018
Interest income	$	45,889		$	45,238		$	40,580
Interest expense		9,906			8,958			5,989
Net interest income		35,983			36,280			34,591
Loan loss provision		190			1,749			946

Gains on sales of loans		330			386			279
Deposit service charges		6,120			6,602			6,221
Trust revenue		2,575			2,663			2,958
Loan related fees		573			644			1,144
Securities gains (losses)		356			203			(288	)
Other noninterest income		2,216			1,741			2,996
Total noninterest income		12,170			12,239			13,310

Personnel expense		15,959			15,257			15,619
Occupancy and equipment		2,790			2,698			2,833
Data processing expense		1,763			1,715			1,636
FDIC insurance premiums		177			264			314
Other noninterest expense		8,394			8,238			8,279
Total noninterest expense		29,083			28,172			28,681

Net income before taxes		18,880			18,598			18,274
Income taxes		3,941			2,889			2,460
Net income	$	14,939		$	15,709		$	15,814

Memo: TEQ interest income	$	46,109		$	45,462		$	40,804

Average shares outstanding		17,712			17,696			17,671
Diluted average shares outstanding		17,723			17,714			17,687
Basic earnings per share	$	0.84		$	0.89		$	0.89
Diluted earnings per share	$	0.84		$	0.89		$	0.89
Dividends per share	$	0.36		$	0.36		$	0.33

Average balances:
Loans	$	3,195,348		$	3,191,980		$	3,111,142
Earning assets		3,966,483			3,937,106			3,870,242
Total assets		4,252,544			4,217,158			4,144,131
Deposits, including repurchase agreements		3,555,931			3,555,292			3,511,286
Interest bearing liabilities		2,813,957			2,794,216			2,782,455
Shareholders' equity		572,555			558,632			534,278

Performance ratios:
Return on average assets		1.42	%		1.48	%		1.55	%
Return on average equity		10.58	%		11.16	%		12.00	%
Yield on average earning assets (tax equivalent)		4.71	%		4.58	%		4.28	%
Cost of interest bearing funds (tax equivalent)		1.43	%		1.27	%		0.87	%
Net interest margin (tax equivalent)		3.70	%		3.68	%		3.65	%
Efficiency ratio (tax equivalent)		60.57	%		58.04	%		59.24	%

Loan charge-offs	$	2,055		$	2,667		$	2,977
Recoveries		(961	)		(1,035	)		(1,069	)
Net charge-offs	$	1,094		$	1,632		$	1,908

Market Price:
High	$	43.75		$	46.86		$	50.70
Low	$	38.03		$	35.70		$	43.00
Close	$	41.06		$	39.61		$	45.20

Community Trust Bancorp, Inc.
Financial Summary (Unaudited)
March 31, 2019
(in thousands except per share data and # of employees)

	As of			As of			As of
	March 31, 2019			December 31, 2018			March 31, 2018
Assets:
Loans	$	3,189,732		$	3,208,638		$	3,118,241
Loan loss reserve		(35,004	)		(35,908	)		(35,189	)
Net loans		3,154,728			3,172,730			3,083,052
Loans held for sale		13,649			2,461			1,145
Securities AFS		599,299			593,746			604,890
Securities HTM		619			649			659
Equity securities at fair value		1,528			1,173			-
Other equity investments		17,148			19,600			22,814
Other earning assets		207,876			82,585			159,608
Cash and due from banks		49,302			64,632			44,792
Premises and equipment		44,554			45,291			45,860
Right of use asset		15,128			-			-
Goodwill and core deposit intangible		65,490			65,490			65,490
Other assets		143,972			153,259			167,427
Total Assets	$	4,313,293		$	4,201,616		$	4,195,737

Liabilities and Equity:
NOW accounts	$	51,656		$	56,964		$	55,034
Savings deposits		1,366,093			1,294,037			1,131,371
CD's >=$100,000		578,043			598,125			705,978
Other time deposits		545,315			553,508			601,942
Total interest bearing deposits		2,541,107			2,502,634			2,494,325
Noninterest bearing deposits		841,996			803,316			825,345
Total deposits		3,383,103			3,305,950			3,319,670
Repurchase agreements		237,506			232,712			244,822
Other interest bearing liabilities		61,572			60,957			67,241
Lease liability		15,743			-			-
Other noninterest bearing liabilities		37,990			37,847			26,516
Total liabilities		3,735,914			3,637,466			3,658,248
Shareholders' equity		577,379			564,150			537,489
Total Liabilities and Equity	$	4,313,293		$	4,201,616		$	4,195,737

Ending shares outstanding		17,768			17,733			17,721
Memo: Market value of HTM securities	$	619		$	649		$	660

30 - 89 days past due loans	$	21,792		$	22,682		$	16,914
90 days past due loans		13,016			10,198			9,027
Nonaccrual loans		12,378			11,867			16,923
Restructured loans (excluding 90 days past due and nonaccrual)		57,553			56,328			56,119
Foreclosed properties		24,970			27,273			32,004
Other repossessed assets					42			118

Common equity Tier 1 capital		16.52	%		16.27	%		15.73	%
Tier 1 leverage ratio		13.62	%		13.51	%		13.14	%
Tier 1 risk-based capital ratio		18.37	%		18.12	%		17.62	%
Total risk based capital ratio		19.51	%		19.29	%		18.78	%
Tangible equity to tangible assets ratio		12.05	%		12.06	%		11.43	%
FTE employees		988			978			986

Kentucky	61-0979818
(State or other jurisdiction of	(IRS Employer Identification Number)
incorporation or organization)

346 North Mayo Trail
Pikeville, Kentucky	41501
(Address of principal executive offices)	(Zip code)

		COMMUNITY TRUST BANCORP, INC.

Date:	April 17, 2019	By:

		/s/ Jean R. Hale
		Jean R. Hale
		Chairman, President and Chief Executive Officer

Exhibit No.	Description

99.1	Press Release dated April 17, 2019