<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                               AMENDMENT NO. 2 TO
                                    FORM 10-K

         (Mark one)
            [X]    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                   THE SECURITIES EXCHANGE ACT OF 1934
                   For the Fiscal Year Ended:   December 31, 1998

            [ ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                   SECURITIES EXCHANGE ACT OF 1934 For the transition period
                   from __________ to __________

                         Commission File Number: 0-19179

                             CT COMMUNICATIONS, INC.
             (Exact name of registrant as specified in its charter)

<TABLE>
<CAPTION>
<S>                                                        <C>
        NORTH CAROLINA                                                   56-1837282
(State or other jurisdiction of                            (I.R.S. Employer Identification Number)
 incorporation or organization

68 CABARRUS AVENUE, EAST, CONCORD, NORTH CAROLINA                           28025
   (Address of principal executive offices)                               (Zip Code)
</TABLE>

       Registrant's telephone number, including area code: (704) 722-2500

           Securities registered pursuant to Section 12(b) of the Act:


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<CAPTION>
                Title of each class:                          Name of exchange on which registered:
                --------------------                          -------------------------------------
<S>             <C>                                           <C>
                  NONE                                                 NONE
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           Securities registered pursuant to Section 12(g) of the Act:
                                  COMMON STOCK
                         RIGHTS TO PURCHASE COMMON STOCK

Indicate by check mark whether the Company (1) has filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Company was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [ ]

The aggregate market value of the voting stock held by nonaffiliates of the
Company is approximately $322,178,318 (based on the May 25, 1999 closing price
of the Common Stock of $38.50 per share). As of May 25, 1999, there were
9,341,795 shares of the Company's Common Stock outstanding.

                       Documents Incorporated by Reference
                                      NONE
<PAGE>   2
ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K.

         Certain items in the CT Communications, Inc. Consolidated Statements of
Income for the years ended December 31, 1998, 1997 and 1996 of CT
Communications, Inc. have been reclassified. The reclassification does not
affect the net income of the Company. Also, note 15 of the Company's
Consolidated Financial Statements has been revised to reflect a change in the
Company's reported business segments, effective March 31, 1999. The reclassified
Consolidated Statements of Income, note 1(n) and note 15 are set forth in
Exhibit 99.1 hereto.

                                        2
<PAGE>   3
                                   SIGNATURES

         Pursuant to the requirements of Section 13 or 15(d) 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.


                                       CT COMMUNICATIONS, INC.


                                       By: /s/ MICHAEL R. COLTRANE
                                           ------------------------------------
                                           Michael R. Coltrane
                                           President and Chief
                                           Executive Officer

                                           Date: May 28, 1999


                                           /s/ BARRY R. RUBENS
                                           ------------------------------------
                                           Barry R. Rubens
                                           Senior Vice President, Treasurer and
                                            Chief
                                           Financial Officer
                                           (Principal Financial and Principal
                                            Accounting Officer)

                                           Date: May 28, 1999


         Pursuant to the requirements of the Securities Exchange Act of 1934,
this Report has been signed below by the following persons on behalf of the
Registrant in the capacities and on the dates indicated.

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<CAPTION>
Signature                                           Title                                Date
---------                                           -----                                ----
<S>                                          <C>                                       <C>
/s/ L.D. COLTRANE, III                       Chairman of the Board                     May 28, 1999
----------------------------------           and Director
L.D. Coltrane, III



/s/ MICHAEL R. COLTRANE                      President, Chief Executive                May 28, 1999
----------------------------------           Officer and Director
Michael R. Coltrane                          (Principal Executive Officer)


/s/ JOHN R. BOGER, JR.                       Director                                  May 28, 1999
----------------------------------
John R. Boger, Jr.
</TABLE>

                                       3
<PAGE>   4
<TABLE>
<CAPTION>
Signature                                           Title                                Date
---------                                           -----                                ----
<S>                                          <C>                                       <C>
/s/ O. CHARLIE CHEWNING, JR.                 Director                                  May 28, 1999
----------------------------------
O. Charlie Chewning, Jr.



/s/ WILLIAM A. COLEY                         Director                                  May 28, 1999
----------------------------------
William A. Coley



/s/ SAMUEL E. LEFTWICH                       Director                                  May 28, 1999
----------------------------------
Samuel E. Leftwich



/s/ JERRY H. MCCLELLAN                       Director                                  May 28, 1999
----------------------------------
Jerry H. McClellan



----------------------------------           Director                                  ______, 1999
Ben F. Mynatt



/s/ PHIL W. WIDENHOUSE                       Director                                  May 28, 1999
----------------------------------
Phil W. Widenhouse
</TABLE>

                                        4
<PAGE>   5
                                INDEX TO EXHIBITS

<TABLE>
<CAPTION>
EXHIBIT
NUMBER            DESCRIPTION OF DOCUMENT
------            -----------------------
<S>               <C>
23.3              Consent of KPMG LLP, independent public accountants

99.1              Reclassified Consolidated Statements of Income, Note 1(n)  and Note 15 thereto of CT
                  Communications, Inc.
</TABLE>