3
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)
June 26, 1998
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)
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Item 2. Acquisition or Disposition of Assets
Community Trust Bancorp, Inc.'s wholly owned
subsidiary, Community Trust Bank of West Virginia, National
Association (CTBWV), purchased sixteen Banc One Corporation
branches located in West Virginia with approximately $569
million in deposits on June 26, 1998. CTBWV paid a 9.7%
premium on these deposits. In concurrent transactions,
CTBWV sold three branches with deposits totaling $151
million to Premier Financial Bancorp, Inc. of Georgetown,
Kentucky receiving a 9.7% premium; four branches with
deposits totaling $122 million to Peoples Banking and Trust
Company of Marietta, Ohio receiving a 10.7% premium; and two
branches with deposits totaling $80 million to United
Bankshares of Charles Town, West Virginia receiving 11.7%
premium. The additional 1% premium paid by Peoples Banking
and Trust Company and the additional 2% premium paid by
United Bankshares was divided evenly between CTBWV and
Premier Financial Bancorp, Inc. as part of a prior
agreement.
CTBWV retained seven branches with deposits totaling
$216 million. The funds used to purchase these branches
were provided from the sale of Trust Preferred Securities
that occurred in April 1997 and the sale of an affiliate
bank in July 1997. The facilities that were purchased will
continue to operate as banking offices.
Financial information is not being filed pursuant to
Item 7 of Form 8-K because this transaction did not have a
financial impact sufficient to require such financial
information pursuant to Rule 3-05 of Regulation S-X.
<PAGE>
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.
July 10, 1998 By: /s/Burlin Coleman
Burlin Coleman
President and
Chief Executive Officer
