5

                              
                              
                              
                              
                              
             SECURITIES AND EXCHANGE COMMISSION
                              
                   Washington, D.C.  20549
                              
                              
                          FORM 8-K
                              
                       CURRENT REPORT
                              
                              
              Pursuant to Section 13 or 15 (d)
           of the Securities Exchange Act of 1934
                              
      Date of Report (Date of earliest event reported)
                      January 17, 1997
                              
                              
                COMMUNITY TRUST BANCORP, INC.
   (Exact name of registrant as specified in its charter)
                              
     Kentucky             0-11129            61-0979818
     (State or other    (Commission       (IRS Employer
     jurisdiction of    File Number)     Identification
     incorporation)                           No.)

     208 North Mayo Trail
     Pikeville, Kentucky                          41501
     (Address of principal executive offices)  (Zip Code)

     Registrant's telephone number, including area code:
(606) 432-1414

                       Not Applicable
     (Former name or former address, if changed since last
report)


Item 5. Settlement of Lawsuit

     Community Trust Bancorp, Inc. reached a settlement on a
lawsuit which had been pending with a former software
vendor.

     See Exhibit 5.


                         Signatures
                              
     Pursuant to the requirements of the Securities Exchange
Act  of 1934, the registrant has duly caused this report  to
be  signed  on its behalf by the undersigned thereunto  duly
authorized.




                             Community Trust Bancorp, Inc.




January 24, 1997             By:  Richard M. Levy
                             Richard M. Levy
                             Executive Vice President
                             Chief Financial Officer


                      INDEX TO EXHIBITS
                              
                              
Exhibit                                             Sequentially Numbered Page

5         Community Trust Bancorp, Inc.                                  5
          Press Release dated January 17, 1997


Exhibit 5

FOR IMMEDIATE RELEASE
January 17, 1997

FOR ADDITIONAL INFORMATION PLEASE CONTACT RICHARD M. LEVY,
EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER,
COMMUNITY TRUST BANK, N.A. AT (606) 437-3282.

Jean R. Hale, President and CEO of Community Trust Bank,
N.A., today announced a settlement of a dispute with a
former software vendor which will increase first quarter
1997 earnings by $3.2 million, net of tax.  The settlement
will add $4.9 million to income pre-tax.

Community Trust Bancorp, Inc. with $1.8 billion in assets
has offices located in Pikeville, Whitesburg, Ashland,
Flemingsburg, Mt. Sterling, Middlesboro, Williamsburg, and
Versailles and affiliates in Campbellsville and West
Liberty.