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Securities (Tables)
 6 Months Ended
Jun. 30, 2019
Securities [Abstract]  
Amortized Cost and Fair Value of Available-for-sale Securities

The amortized cost and fair value of securities at June 30, 2019 are summarized as follows: 

Available-for-Sale

(in thousands)
  
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair Value
  
U.S. Treasury and government agencies
  
$
150,573
    
$
638
    
$
(469
)
  
$
150,742
  
State and political subdivisions
    
103,304
      
2,385
      
(250
)
    
105,439
  
U.S. government sponsored agency mortgage-backed securities
    
331,036
      
3,757
      
(1,788
)
    
333,005
  
Other debt securities
    
2,401
      
0
      
(1
)
    
2,400
  
Total available-for-sale securities
  
$
587,314
    
$
6,780
    
$
(2,508
)
  
$
591,586
  

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
  
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 June 30, 2019 are summarized as follows: 

Held-to-Maturity

(in thousands)
  
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair Value
  
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
  
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 June 30, 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
  
$
11,295
    
$
11,322
    
$
619
    
$
619
  
Due after one through five years
    
78,460
      
79,028
      
0
      
0
  
Due after five through ten years
    
73,117
      
73,319
      
0
      
0
  
Due after ten years
    
91,005
      
92,512
      
0
      
0
  
U.S. government sponsored agency mortgage-backed securities
    
331,036
      
333,005
      
0
      
0
  
Other debt securities
    
2,401
      
2,400
      
0
      
0
  
Total debt securities
  
$
587,314
    
$
591,586
    
$
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 June 30, 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 June 30, 2019 was 41.4% 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 June 30, 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 June 30, 2019.

Available-for-Sale

(in thousands)
  
Amortized
Cost
    
Gross
Unrealized
Losses
    
Fair Value
  
Less Than 12 Months
                  
U.S. Treasury and government agencies
  
$
1,840
    
$
(6
)
  
$
1,834
  
State and political subdivisions
    
0
      
0
      
0
  
U.S. government sponsored agency mortgage-backed securities
    
0
      
0
      
0
  
Other debt securities
    
2,401
      
(1
)
    
2,400
  
Total <12 months temporarily impaired AFS securities
    
4,241
      
(7
)
    
4,234
  
                         
12 Months or More
                        
U.S. Treasury and government agencies
    
91,976
      
(463
)
    
91,513
  
State and political subdivisions
    
19,407
      
(250
)
    
19,157
  
U.S. government sponsored agency mortgage-backed securities
    
132,104
      
(1,788
)
    
130,316
  
Other debt securities
    
0
      
0
      
0
  
Total ≥12 months temporarily impaired AFS securities
    
243,487
      
(2,501
)
    
240,986
  
                         
Total
                        
U.S. Treasury and government agencies
    
93,816
      
(469
)
    
93,347
  
State and political subdivisions
    
19,407
      
(250
)
    
19,157
  
U.S. government sponsored agency mortgage-backed securities
    
132,104
      
(1,788
)
    
130,316
  
Other debt securities
    
2,401
      
(1
)
    
2,400
  
Total temporarily impaired AFS securities
  
$
247,728
    
$
(2,508
)
  
$
245,220
  


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