Exhibit 99.1
January 2025
Cautionary Statement Information provided herein by CTBI contains “forward-looking” information. CTBI cautions that any forward-looking statements made are not guarantees of future performance and that actual results may differ materially from those in the forward-looking statements. Please refer to CTBI’s 2023 Annual Report on Form 10-K, Cautionary Statement Regarding Forward Looking Statements for additional information. 2
Key Metrics Total Assets $6.2 billion Market Capitalization $957.6 million Cash Dividend Yield 3.55% P/E Ratio 11.5x Price to Book Value 1.3x Price to Tangible Book Value 1.4x Tangible Common Equity Ratio 11.29% Competitive Position 3rd largest Kentucky domiciled bank holding company 2nd in Kentucky in deposit market share of all Kentucky domiciled FDIC insured institutions 7th largest bank in Kentucky in terms of deposit market share of all FDIC insured institutions Financial data as of December 31, 2024 Deposit market share as of June 30, 2024 3
Corporate History 1903 Pikeville National bank formed 1987-2005 Acquired 14 banks and purchased 17 branch locations 1997 Changed name to Community Trust Bancorp, Inc. 2010 Acquired LaFollette First National Corporation Presently Two operational subsidiaries~ Community Trust Bank, Inc. and Community Trust and Investment Company 4
Our Banking Franchise Serving customers in 81 locations in 36 counties throughout Kentucky, Tennessee, and West Virginia, including 5 trust offices in Kentucky and Tennessee
Our Banking Franchise Central Region Eastern Region Northeastern Region Loans - $1.1 billion Loans - $1.1 billion Loans - $494 million Deposits - $1.4 billion Deposits - $2.1 billion Deposits - $706 million • Danville • Floyd/Knott/Johnson • Advantage Valley • Lexington • Hazard • Ashland • Mt. Sterling • Pikeville • Flemingsburg • Richmond • Tug Valley • Summersville • Versailles • Whitesburg • Winchester South Central Region Indirect Lending Loans - $1.0 billion Loans - $850 million Deposits - $1.1 billion • Campbellsville CTIC • LaFollette Assets Under Management - $3.7 billion (including $1.1 billion CTB) • Middlesboro Revenues - $21.3 million • Mt. Vernon • Williamsburg • Ashland • LaFollette • Lexington • Pikeville • Versailles Financial data as of December 31, 2024 6
Trust Assets Under Management & Trust Revenue Includes CTB portfolio Assets in billions Revenue in millions 7
Executive Management Team Banking Yrs. w/ Name Position Experience CTBI Mark A. Gooch Chairman, President, and CEO 43 years 43 Richard W. Newsom CTB President 41 years 41 Andy Waters CTIC President and CEO 38 years 21 Kevin J. Stumbo EVP/Chief Financial Officer 38 years 30 C. Wayne Hancock EVP/Chief Legal Officer 16 years 16 Mark Smith EVP/Chief Credit Officer 32 years 18 James B. Draughn* EVP/Operations 31 years 31 Steven E. Jameson EVP/Chief Risk Officer 39 years 20 Ricky Sparkman EVP/SC KY/TN President 39 years 30 D. Andrew Jones EVP/NE KY/WV President 37 years 37 David Tackett EVP/E KY President 37 years 33 Billie Dollins EVP/C KY President 43 years 14 * Mr. Draughn has announced his resignation effective January 31, 2025. Thomas McCoy has been named his replacement. Mr. McCoy has been with CTBI for 33 years, most recently serving as SVP/Applications System Manager. 8
Operational Philosophy Traditional community banking business model Executive management and board of director commitment to strong corporate governance Decentralized decision making and centralized operations and risk management Strong loan portfolio risk management process Specialized product offerings Maintain a strong tangible equity position Organic growth expectations combined with de novo branching and acquisition Consistent long-term performance 9
Consistent Financial Performance 2024 2023 2022 2021 2020 EPS $4.61 $4.36 $4.59 $4.94 $3.35 ROAA 1.41% 1.40% 1.50% 1.63% 1.23% ROAE 11.31% 11.75% 12.74% 12.88% 9.36% Net Int. Margin 3.36% 3.32% 3.32% 3.21% 3.33% Efficiency Ratio 52.57% 54.29% 53.07% 53.11% 58.30% Nonperforming Loans 0.59% 0.34% 0.41% 0.49% 0.75% Net Charge-offs 0.13% 0.08% 0.02% 0.00% 0.18% % of Average Assets: Noninterest Income 1.05% 1.02% 1.07% 1.13% 1.09% Noninterest Expense 2.22% 2.25% 2.23% 2.21% 2.46% 10 All information is for the year ended December 31
Earnings Review
Earnings Per Share EPS increased 5.7% from 2023 to 2024 2025 EPS goal - $4.86 to $5.06 per share 12
Net Income Net income increased 6.2% from 2023 to 2024 2025 goal for net income - $88.0 to $91.6 million (in millions) 13
Revenues Revenues increased 7.7% from 2023 to 2024 2025 goal for revenues - $261.6 to $272.3 million (in millions) 14
Noninterest Incomeas a % of Total Revenue Noninterest income increased 8.5% from 2023 to 2024 2025 goal for noninterest revenue – 23.5% to 25.5% of total revenue (in millions) 15
Net Interest Revenue Net interest revenue increased by 7.4% from 2023 Net interest margin increased 4 basis points Average earning assets increased $325.8 million, or 6.2% (in millions) 16
Net Interest Margin Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 9/30/2024 for bank holding companies with consolidated assets of $3 billion to $10 billion. 17 Dec ’24 Sept ’24 Jun ’24 Mar ’24 Dec ’23 Sept ’23 Net Interest Margin 3.43% 3.34% 3.38% 3.23% 3.19% 3.27% Yield on Earning Assets 5.66% 5.64% 5.66% 5.55% 5.43% 5.25% Cost of Interest Bearing Deposits 3.18% 3.34% 3.30% 3.35% 3.27% 2.93% Benefit of Noninterest Bearing Deposits 0.95% 1.03% 1.02% 1.03% 1.02% 0.95%
Net Noninterest Expenseas a % of Average Earning Assets Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 9/30/2024 for bank holding companies with consolidated assets of $3 billion to $10 billion. (in millions) 18 Noninterest Expense & Efficiency Ratio (in millions)
Return on Average Assets Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 9/30/2024 for bank holding companies with consolidated assets of $3 billion to $10 billion. 19
Balance Sheet Review
Total Assets Total assets at 12/31/24 increased $423.5 million, or 7.3%, from 12/31/23 Loans increased $435.7 million or 10.8% Investment portfolio decreased $107.4 million or 9.2% Deposits increased $360.5 million or 7.3% 2025 goal for total assets - $6.19 to $6.57 billion (in billions) 21
Total Loans Loans increased $435.7 million, or 10.8%, from 12/31/23 2025 goal for total loans - $4.53 to $4.71 billion (in billions) 22 Loan Portfolio Mix December 31, 2024 Loan Rate Mix
Concentrations of Creditas a % of Total Loans December 31, 2024 23 The net losses in non-residential real estate rental were 0.01%. There were no net losses in apartments and rental housing or hotel/motel. There were no net losses in nonperforming loans in any of these loan categories for the year 2024.
Indirect Lending (in millions) 24
Net Charge-offsas a % of Average Loans Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 9/30/2024 for bank holding companies with consolidated assets of $3 billion to $10 billion. 25 Nonperforming Loansas a % of Total Loans Commercial loans - $861.9 thousand Consumer indirect loans - $3.5 million Consumer direct loans - $971.5 thousand Residential loans - $159.0 thousand
Nonperforming Assetsas a % of Total Assets $3.6 million in other real estate owned 26 Loan Loss Reserve as a % of Net Loans Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 9/30/2024 for bank holding companies with consolidated assets of $3 billion to $10 billion.
Total Depositsincluding Repurchase Agreements 2025 goal for total deposits including repurchase agreements - $5.32 to $5.54 billion (in billions) 27 Total Depositsincluding Repurchase Agreements December 31, 2024
Our Hoops CD product has been offered for over 27 years 100 basis point increase in rate in 1996, 1998, and 2012 with the University of Kentucky’s NCAA Basketball Championships $293 million in Hoops CDs as of 12/31/24 12 Month Certificate of Deposit: April 10th through maturity, rate paid is adjusted by 1 basis point for each University of Kentucky win; bonus 100 basis points added to rate for National Championship win. 28
Shareholder Value
Dividends Per Share Dividend payout ratio at December 31, 2024 was 40.3% Desired level between 40% and 50% December 31, 2024 cash dividend yield was 3.55% Quarterly cash dividend increased to $0.47 per share effective October 1, 2024, an increase of 2.2% 30 *2025 is projected DPS
Shareholders’ Equity Shareholders’ equity has increased 15.7% during the past five years 4.3% compound growth rate for the past five years 2025 goal for shareholders’ equity - $797.7 to $830.3 million (in millions) 31 4.3%
Book Value Per Share Tangible Common Equity/Assets 32
5 Year Cumulative Total ReturnComparison of CTBI, NASDAQ Stock Market (U.S.), and NASDAQ Bank Stocks An investment in CTBI stock on December 31, 2019 would have underperformed the NASDAQ Stock Market (U.S.) and the NASDAQ Bank Stocks Index at December 31, 2023. 33
Comparison to Russell 2000 Indexof Small Cap Companies 3-, 5-, and 10-year total returns annualized Return to Investors 34 December 31, 2024
Core Value Long-Term Investment 12 stock splits and 10 stock dividends 44 years of consecutive increases in cash dividends 5-year compound growth rate of cash dividends 4.7% Stock included in the NASDAQ Global Select Market, NASDAQ Dividend Achievers Index, and NASDAQ Bank Stock Index CTBI shareholders include 246 institutional investors (including CTIC – 10.5%) hold 11.6 million shares (61.7%) 285 mutual funds hold 5.5 million shares (30.7%) Data as of December 31, 2024 35
Key Strategic Initiatives
Operational Priorities Build core earnings capacity Quality loan growth Low cost deposit growth Branch expansion in growth markets Maintain net interest margin Operational efficiency Expense control Noninterest revenue growth Compliance management Increase noninterest income Wealth management Brokerage Insurance Continuing focus on improving asset quality 37
CTBI’s Franchise Value History of solid investor returns Historically strong capital position Investor focused dividend policy Dividend Achievers Index Consistent financial performance Community banking strategy Economic diversity in the markets we serve Strong experienced management team and nearly 1,000 dedicated employees Our shareholders 38
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