Capital allocation remains shareholder-friendly, with quarterly dividend payments ranging from $8.2 million to $9.6 million, supported by consistent organic capital generation.
Community Trust Bancorp, Inc. (CTBI) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash from Operations | 107.89M | 104.99M | 105.17M | 85.73M | 99.68M | 115.69M | 62.38M | 83.46M | 65.49M | 62.35M | 61.42M | 54.98M | 57.53M | 90.72M | 57.9M | 64.33M | 61.3M | 37.69M | 54.76M | 51M | 55.48M | 41.33M | 52.55M | 37.3M | 198.43M | 144.06M | 72.53M | 50.15M | 29.6M | 105.3M | -40M |
| Operating CF Growth % | -43.16% | -0.17% | 22.68% | -14% | -13.84% | 85.47% | -25.26% | 27.44% | 5.03% | 1.51% | 11.72% | -4.43% | -36.58% | 56.69% | -10% | 4.93% | 62.66% | -31.18% | 7.38% | -8.09% | 34.24% | -21.35% | 40.88% | -81.2% | 37.74% | 98.62% | 44.64% | 69.41% | -71.89% | 363.25% | -296.08% |
| Net Income | 103.28M | 98.06M | 82.81M | 78M | 81.81M | 87.94M | 59.5M | 64.54M | 59.23M | 51.49M | 47.35M | 46.43M | 43.25M | 45.17M | 44.86M | 38.83M | 33.03M | 25.06M | 23.07M | 36.63M | 39.06M | 34.41M | 30.95M | 28.89M | 27.6M | 22.27M | 22.35M | 21.84M | 14M | 16M | 18.8M |
| Depreciation & Amortization | 5.84M | 5.75M | 5M | 5.35M | 5.22M | 5.03M | 5.35M | 5.51M | 3.79M | 4.01M | 3.9M | 3.93M | 4.31M | 4.56M | 4.32M | 4.22M | 4.38M | 5.24M | 5.11M | 5.67M | 6.78M | 6.82M | 5.72M | 5.85M | 5.08M | 7.16M | 7.35M | 7.65M | 5.7M | 5.1M | 4.9M |
| Deferred Taxes | -2.43M | -2.94M | -1.73M | 709K | 3.25M | 2.33M | -2.91M | -1.41M | -246K | -3.09M | 701K | 115K | -1.05M | 582K | 5.44M | -94K | 219K | 2.92M | -5.77M | 955K | 4.19M | 745K | 1.89M | 561K | 2.45M | 1.47M | 545K | 0 | 0 | 0 | 400K |
| Other Non-Cash Items | -14M | 10.14M | 7.98M | 5.12M | 7.88M | 16.84M | -3.92M | 11.92M | 8.81M | 12.09M | 9.35M | 12.48M | 11.56M | 34.73M | -6.25M | 22.69M | 20.04M | 17.3M | 29.19M | -65.47M | 4.15M | 9.62M | 9.64M | 8.24M | 166.02M | 125.43M | 37.19M | 12.79M | 13.9M | 91.8M | -62.5M |
| Working Capital Changes | 13.46M | -7.79M | 9.76M | -5.02M | 159K | 2.71M | 3.41M | 2.03M | -6.8M | -2.78M | -331K | -8.76M | -1.4M | 4.97M | 8.92M | -1.96M | 2.9M | -13.38M | 2.46M | 73.22M | 1.3M | -10.27M | 4.36M | -6.24M | -2.73M | -12.27M | 5.1M | 7.86M | -4M | -7.6M | -1.6M |
| Cash from Investing | -428.8M | -463.22M | -335.67M | -226.6M | -280.01M | -358.62M | -693.53M | -34.49M | -100.59M | -186.59M | -86.11M | -108.35M | -144.08M | -122.05M | -70.96M | -172.29M | -111.8M | -134.3M | -83.46M | 37.32M | -91.64M | -78.04M | -219.38M | -49.43M | -217.32M | -321.26M | -64.74M | -88.26M | -125.6M | -123.5M | -72.8M |
| Purchase of Investments | -254.74M | -232.46M | -55.37M | -19.48M | -179.63M | -797.45M | -857.17M | -196.73M | -281.51M | -231.68M | -176.24M | -81.46M | -217.95M | -197.26M | -285.8M | -313.1M | -169.09M | -140.48M | -58.25M | -76.05M | -218.45M | -108.08M | -305.05M | -305.9M | -327.72M | -321.3M | -54.67M | -56.53M | -195.3M | -24.7M | -51.9M |
| Sale/Maturity of Investments | 422.96M | 212.19M | 167.4M | 146.19M | 205.31M | 306.44M | 468.2M | 199.99M | 263.03M | 247.26M | 159.54M | 123.27M | 198.43M | 155.35M | 209.45M | 130.52M | 140.23M | 152.52M | 110.11M | 188.04M | 195.45M | 174.64M | 262.99M | 380.09M | 208.99M | 160.05M | 104.84M | 102.9M | 94M | 112.2M | 112.3M |
| Net Investment Activity | 168.22M | -20.27M | 112.04M | 126.71M | 25.68M | -491M | -388.97M | 3.26M | -18.48M | 15.58M | -16.69M | 41.81M | -19.52M | -41.92M | -76.35M | -182.57M | -28.87M | 12.04M | 51.85M | 111.99M | -22.99M | 66.56M | -42.05M | 74.2M | -118.73M | -161.25M | 50.17M | 46.37M | -101.3M | 87.5M | 60.4M |
| Acquisitions | 0 | 1.11M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.91M | 0 | 0 | 0 | 0 | -4.31M | 0 | 0 | -577K | -11.91M | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -585.41M | -417.34M | -439.63M | -346.98M | -299.47M | 134.76M | -303.07M | -35.19M | -79.27M | -199.77M | -65.92M | -147.91M | -122.48M | -78.03M | 9.69M | 13.4M | -83.42M | -142.14M | -132M | -71.93M | -65.83M | -134.89M | -170.32M | -120.56M | -94.47M | -141.69M | -113.18M | -132.85M | -18.2M | -205.9M | -130.1M |
| Cash from Financing | 338.9M | 352.41M | 328.61M | 283.58M | -2.75M | 216.45M | 704.7M | 74.27M | 1.28M | 154.79M | -18.21M | 135.46M | 85.42M | -69.59M | -17.85M | 187.47M | 67.35M | 97.86M | 32.43M | -108.6M | 71.48M | 29.34M | 207.45M | -41.11M | -48.7M | 217.28M | 54.47M | -87.56M | -28.9M | 15.7M | 69.7M |
| Dividends Paid | -37.09M | -35.98M | -33.41M | -32.19M | -29.94M | -27.92M | -27.14M | -26.23M | -24.39M | -22.98M | -22.19M | -21.33M | -20.57M | -24.55M | -19.21M | -18.74M | -18.33M | -18.12M | -17.4M | -16.36M | -15.66M | -14.28M | -12.38M | -11.05M | -9.77M | -9.3M | -9.1M | -10.62M | -8.1M | -7.3M | -6.6M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | -1.1M | 0 | 0 | 0 | -382K | -189K | 0 | 0 | 0 | 0 | 0 | 0 | -2.63M | -6.18M | 0 | 0 | 0 | 0 | 0 | -6.45M | -7.82M | 0 | 0 | 0 | 0 |
| Stock Issued | 1.37M | 1.32M | 1.77M | 1.13M | 1.04M | 965K | 926K | 1.26M | 1.23M | 1.51M | 2.98M | 2.08M | 1.99M | 6.35M | 4.39M | 1.29M | 1.88M | 2.29M | 2.73M | 0 | 3.18M | 3.36M | 1.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | 1.37M | 1.32M | 1.77M | 1.13M | 1.04M | 965K | -173K | 1.26M | 1.23M | 1.51M | 2.6M | 1.89M | 1.99M | 6.35M | 4.39M | 1.29M | 1.88M | 2.29M | 100K | -6.18M | 3.18M | 3.36M | 1.83M | 0 | 0 | -6.45M | -7.82M | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | -215K | 1000K | -245K | 1000K | -44K | -39K | -35K | -1000K | -409K | -1000K | -1000K | 1000K | 1000K | -143K | -1000K | 371K | -632K | -1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K |
| Other Financing | 360.97M | 318.87M | 360.49M | 308.29M | 26.19M | 243.44M | 732.05M | 100.55M | 24.85M | 177.8M | 101.49M | 115.02M | 44.12M | -51.25M | 17.15M | 204.54M | 84.44M | 153.75M | 38.34M | -48.25M | 94.62M | 36.32M | 72.85M | -60.1M | -28.06M | 211.86M | 66.58M | -43.81M | 46.7M | -15.7M | 13.4M |
| Net Change in Cash | 17.99M | -5.82M | 98.11M | 142.71M | -183.07M | -26.48M | 73.55M | 123.23M | -33.82M | 30.56M | -42.9M | 82.09M | -1.12M | -100.92M | -30.92M | 79.5M | 16.85M | 1.25M | 3.73M | -20.29M | 35.33M | -7.37M | 40.62M | -53.24M | -67.59M | 40.08M | 62.26M | -125.68M | -125M | -2.5M | -107M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 363.68M | 369.5M | 271.4M | 128.69M | 311.76M | 338.24M | 264.68M | 141.45M | 175.27M | 144.72M | 187.61M | 105.52M | 106.64M | 207.56M | 238.48M | 158.98M | 142.13M | 140.88M | 137.25M | 157.54M | 122.21M | 129.58M | 88.96M | 142.21M | 209.8M | 169.72M | 107.46M | 233.13M | 358.1M | 63.9M | 107M |
| Cash at End | 358.65M | 363.68M | 369.5M | 271.4M | 128.69M | 311.76M | 338.24M | 264.68M | 141.45M | 175.27M | 144.72M | 187.61M | 105.52M | 106.64M | 207.56M | 238.48M | 158.98M | 142.13M | 140.98M | 137.25M | 157.54M | 122.21M | 129.58M | 88.96M | 142.21M | 209.8M | 169.72M | 107.46M | 233.1M | 61.4M | 176.7M |
| Interest Paid | 124.26M | 126.58M | 126.46M | 90.39M | 27.42M | 15.32M | 27.05M | 40.58M | 28.62M | 17.27M | 13.43M | 11.61M | 11.92M | 13.72M | 22.45M | 27.68M | 36.09M | 49.42M | 65.24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 28.51M | 28.51M | 20.61M | 20.73M | 16.29M | 19.48M | 13.28M | 9.99M | 9.7M | 21.4M | 19.24M | 20.53M | 15.82M | 20.83M | 11.75M | 13.68M | 15.82M | 6.7M | 16.43M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 96.27M | 97.39M | 97.09M | 79.41M | 93.47M | 113.32M | 60.9M | 80.89M | 62.66M | 59.95M | 57.93M | 52.73M | 55.45M | 88.61M | 53.59M | 61.21M | 58.65M | 33.5M | 51.59M | 48.26M | 52.66M | 36.04M | 45.55M | 34.23M | 194.89M | 137.65M | 70.79M | 48.37M | 23.5M | 100.2M | -43.1M |
| FCF Growth % | -10.56% | 0.3% | 22.27% | -15.04% | -17.52% | 86.09% | -24.71% | 29.1% | 4.51% | 3.49% | 9.85% | -4.89% | -37.43% | 65.33% | -12.44% | 4.36% | 75.1% | -35.08% | 6.91% | -8.37% | 46.12% | -20.87% | 33.04% | -82.43% | 41.58% | 94.45% | 46.35% | 105.83% | -76.55% | 332.48% | -376.28% |
Quick answers to the most common questions about buying CTBI stock.
Community Trust Bancorp, Inc. (CTBI) generated $105.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Community Trust Bancorp, Inc. (CTBI) generated $97.4M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Community Trust Bancorp, Inc. (CTBI) spent $26.7M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Community Trust Bancorp, Inc. (CTBI) returned $36.0M to shareholders via cash dividends. This shows the company's commitment to returning capital to its equity investors.
Key Metrics
Top Statement Risk
Regional economic concentration
Metrics are mathematically derived from official filings.
Consistent Dividend Payouts Sustain Value
According to quarterly financial disclosures, CTBI has maintained a remarkably consistent dividend payout pattern, with quarterly distributions ranging from $8.2 million to $9.6 million, signaling a commitment to shareholder returns that appears well-supported by the bank's stable net income generation and conservative capital management strategy.
The absence of share buybacks in the provided data suggests that management prioritizes dividend stability and capital preservation over aggressive equity reduction. This approach appears to align with the bank's conservative profile, ensuring that capital remains available to support organic loan growth within its Appalachian footprint.
Securities Portfolio Liquidity Management Trends
Based on reported cash flow figures, CTBI frequently rotates its investment securities portfolio, evidenced by significant quarterly sales reaching as high as $251.3 million in 2025Q4, which suggests an active strategy to manage duration and liquidity in response to shifting interest rate environments.
The periodic swings between net purchases and net sales of investment securities indicate that the bank uses its portfolio as a primary lever for liquidity management. Investors should monitor whether these portfolio adjustments are intended to lock in higher yields or simply to provide the necessary cash flow to fund regional loan demand.
Conservative Provisioning Supports Asset Quality
As indicated by the bank's reported financial statements, provisions for credit losses have remained relatively modest, peaking at $3.9 million in 2025Q3, which implies a disciplined approach to credit risk management despite the inherent economic sensitivities of the bank's core Kentucky and West Virginia markets.
The variability in provisioning suggests that management adjusts its reserve builds in alignment with its internal assessment of regional economic health. This proactive stance appears to provide a necessary buffer against potential credit deterioration, reinforcing the bank's overall balance sheet stability.
Organic Capital Generation Drives Stability
Based on the provided data, CTBI demonstrates a robust ability to generate internal capital, with net income consistently exceeding dividend outflows, which suggests that the bank is well-positioned to fund its regional lending activities without relying on external capital markets or significant debt issuance.
The bank's reliance on internal capital generation underscores its operational independence and reinforces its fortress-like balance sheet. This self-funding model appears to be a key component of the bank's long-term strategy to maintain its competitive advantage in rural markets while minimizing exposure to wholesale funding volatility.