Community Trust Bancorp, Inc. Announces Departure of Director and Appointment of New Committee Chair

Strategic Insights -

Community Trust Bancorp, Inc., a financial institution based in Kentucky, has announced the retirement of one of its directors and the appointment of a new committee chair. Franklin H. Farris, Jr., who had been serving as the Chairman of the Audit and Asset Quality Committee, has retired from the Board of Directors at the age of 75, as per the company's policy. To replace him, Eugenia Crittenden "Crit" Luallen has been appointed as the new Chairman of the Audit and Asset Quality Committee. Luallen is also the Vice Chairman and lead independent director of the Board of Directors and has been determined to be an audit committee financial expert for the company, meeting the independence and qualifications standards of the Nasdaq listing standards.

Key Takeaways:

  • Franklin H. Farris, Jr. has retired from the Community Trust Bancorp, Inc. Board of Directors at the age of 75, as per the company's directors' compensation, retirement, and benefits policy.
  • Eugenia Crittenden "Crit" Luallen has been appointed as the new Chairman of the Audit and Asset Quality Committee, replacing Farris.
  • Luallen currently serves as Vice Chairman and lead independent director of the Board of Directors and has been determined to be an audit committee financial expert for the company.
  • The Board of Directors has nine members, having reduced from ten after Farris' retirement.
  • The appointment of Luallen meets the independence and qualifications standards of the Nasdaq listing standards.

Statistics:

  • Community Trust Bancorp, Inc. has a total of nine members on its Board of Directors.
  • The company's directors' compensation, retirement, and benefits policy requires directors to retire from being a voting director upon attaining the age of 75.
  • Luallen has been serving as Vice Chairman and lead independent director of CTBI's Board of Directors.
  • The company operates in Kentucky and reports to the U.S. Securities and Exchange Commission.

Sources:

  • Community Trust Bancorp, Inc. (2025, June 23). FORM 8-K. UNITED STATES SECURITIES AND EXCHANGE COMMISSION.