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Securities (Tables)
 3 Months Ended
Mar. 31, 2019
Securities [Abstract]  
Amortized Cost and Fair Value of Available-for-sale Securities
The amortized cost and fair value of securities at March 31, 2019 are summarized as follows:

Available-for-Sale

(in thousands)
 
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair Value
 
March 31, 2019                
U.S. Treasury and government agencies
 
$
178,233
  
$
195
  
$
(951
)
 
$
177,477
 
State and political subdivisions
  
123,147
   
1,524
   
(942
)
  
123,729
 
U.S. government sponsored agency mortgage-backed securities
  
299,658
   
2,036
   
(4,103
)
  
297,591
 
Other debt securities
  
506
   
0
   
(4
)
  
502
 
Total available-for-sale securities
 
$
601,544
  
$
3,755
  
$
(6,000
)
 
$
599,299
 

The amortized cost and fair value of securities at December 31, 2018 are summarized as follows:

Available-for-Sale

(in thousands)
 
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair Value
 
December 31, 2018                
U.S. Treasury and government agencies
 
$
219,358
  
$
48
  
$
(1,468
)
 
$
217,938
 
State and political subdivisions
  
126,280
   
633
   
(2,425
)
  
124,488
 
U.S. government sponsored agency mortgage-backed securities
  
255,969
   
397
   
(5,547
)
  
250,819
 
Other debt securities
  
507
   
0
   
(6
)
  
501
 
Total available-for-sale securities
 
$
602,114
  
$
1,078
  
$
(9,446
)
 
$
593,746
 
Amortized Cost and Fair Value of Held-to-maturity Securities
The amortized cost and fair value of securities at March 31, 2019 are summarized as follows:

Held-to-Maturity

(in thousands)
 
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair Value
 
March 31, 2019                
State and political subdivisions
 
$
619
  
$
0
  
$
0
  
$
619
 
Total held-to-maturity securities
 
$
619
  
$
0
  
$
0
  
$
619
 

The amortized cost and fair value of securities at December 31, 2018 are summarized as follows:
Held-to-Maturity

(in thousands)
 
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair Value
 
December 31, 2018                
State and political subdivisions
 
$
649
  
$
0
  
$
0
  
$
649
 
Total held-to-maturity securities
 
$
649
  
$
0
  
$
0
  
$
649
 
Amortized Cost and Fair Value of Securities by Contractual Maturity
The amortized cost and fair value of debt securities at March 31, 2019 by contractual maturity are shown below.  Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

  
Available-for-Sale
  
Held-to-Maturity
 
(in thousands)
 
Amortized Cost
  
Fair Value
  
Amortized Cost
  
Fair Value
 
Due in one year or less
 
$
29,546
  
$
29,499
  
$
619
  
$
619
 
Due after one through five years
  
93,079
   
93,111
   
0
   
0
 
Due after five through ten years
  
80,646
   
80,248
   
0
   
0
 
Due after ten years
  
98,109
   
98,348
   
0
   
0
 
U.S. government sponsored agency mortgage-backed securities
  
299,658
   
297,591
   
0
   
0
 
Other debt securities
  
506
   
502
   
0
   
0
 
Total debt securities
 
$
601,544
  
$
599,299
  
$
619
  
$
619
 
Available for Sale Securities and Held-to-Maturity Securities, Continuous Unrealized Loss Position
CTBI evaluates its investment portfolio on a quarterly basis for impairment.  The analysis performed as of March 31, 2019 indicates that all impairment is considered temporary, market and interest rate driven, and not credit-related.  The percentage of total debt securities with unrealized losses as of March 31, 2019 was 55.9% compared to 75.7% as of December 31, 2018.  The following tables provide the amortized cost, gross unrealized losses, and fair market value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of March 31, 2019 that are not deemed to be other-than-temporarily impaired.  There were no held-to-maturity securities that were deemed to be impaired as of March 31, 2019.

Available-for-Sale

(in thousands)
 
Amortized Cost
  
Gross Unrealized Losses
  
Fair Value
 
Less Than 12 Months
         
U.S. Treasury and government agencies
 
$
22,910
  
$
(8
)
 
$
22,902
 
State and political subdivisions
  
0
   
0
   
0
 
U.S. government sponsored agency mortgage-backed securities
  
935
   
(3
)
  
932
 
Other debt securities
  
506
   
(4
)
  
502
 
Total <12 months temporarily impaired AFS securities
  
24,351
   
(15
)
  
24,336
 
             
12 Months or More
            
U.S. Treasury and government agencies
  
120,811
   
(943
)
  
119,868
 
State and political subdivisions
  
39,558
   
(942
)
  
38,616
 
U.S. government sponsored agency mortgage-backed securities
  
156,877
   
(4,100
)
  
152,777
 
Other debt securities
  
0
   
0
   
0
 
Total ≥12 months temporarily impaired AFS securities
  
317,246
   
(5,985
)
  
311,261
 
             
Total
            
U.S. Treasury and government agencies
  
143,721
   
(951
)
  
142,770
 
State and political subdivisions
  
39,558
   
(942
)
  
38,616
 
U.S. government sponsored agency mortgage-backed securities
  
157,812
   
(4,103
)
  
153,709
 
Other debt securities
  
506
   
(4
)
  
502
 
Total temporarily impaired AFS securities
 
$
341,597
  
$
(6,000
)
 
$
335,597
 

The analysis performed as of December 31, 2018 indicated that all impairment was considered temporary, market and interest rate driven, and not credit-related.  The following tables provide the amortized cost, gross unrealized losses, and fair market value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of December 31, 2018 that are not deemed to be other-than-temporarily impaired.  There were no held-to-maturity securities that were deemed to be impaired as of December 31, 2018.

Available-for-Sale

(in thousands)
 
Amortized Cost
  
Gross Unrealized Losses
  
Fair Value
 
Less Than 12 Months
         
U.S. Treasury and government agencies
 
$
78,905
  
$
(271
)
 
$
78,634
 
State and political subdivisions
  
21,707
   
(194
)
  
21,513
 
U.S. government sponsored agency mortgage-backed securities
  
61,940
   
(377
)
  
61,563
 
Other debt securities
  
507
   
(6
)
  
501
 
Total <12 months temporarily impaired AFS securities
  
163,059
   
(848
)
  
162,211
 
             
12 Months or More
            
U.S. Treasury and government agencies
  
97,955
   
(1,197
)
  
96,758
 
State and political subdivisions
  
51,911
   
(2,231
)
  
49,680
 
U.S. government sponsored agency mortgage-backed securities
  
147,658
   
(5,170
)
  
142,488
 
Other debt securities
  
0
   
0
   
0
 
Total ≥12 months temporarily impaired AFS securities
  
297,524
   
(8,598
)
  
288,926
 
             
Total
            
U.S. Treasury and government agencies
  
176,860
   
(1,468
)
  
175,392
 
State and political subdivisions
  
73,618
   
(2,425
)
  
71,193
 
U.S. government sponsored agency mortgage-backed securities
  
209,598
   
(5,547
)
  
204,051
 
Other debt securities
  
507
   
(6
)
  
501
 
Total temporarily impaired AFS securities
 
$
460,583
  
$
(9,446
)
 
$
451,137