----

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| [X]                  | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)     |
|----------------------|------------------------------------------------------------------------------------------------------------|
|                 | For the fiscal year ended December 31, 2010                                                                |
|                 | Or                                                                                                         |
| [   ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) |
|                 | For the transition period from _____________ to _____________                                              |

| Kentucky                                                                        | 61-0979818                      |
|---------------------------------------------------------------------------------|---------------------------------|
| (State or other jurisdiction of incorporation or organization)                  | IRS Employer Identification No. |
| 346 North Mayo TrailPikeville, Kentucky(address of principal executive offices) | 41501(Zip Code)                 |

| Yes |    No ü |
|-----|-----------------------------|

| Yes |    No ü |
|-----|-----------------------------|

| Yes  ü | No |
|-----------------------|----|

| Yes | No |
|-----|----|

| Large accelerated filer | Accelerated filer  ü | Non-accelerated filer                         | Smaller reporting company |
|-------------------------|-------------------------------------|-----------------------------------------------|---------------------------|
|                    |                                | (Do not check if a smaller reporting company) |                      |

| Yes |    No ü |
|-----|-----------------------------|

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| DOCUMENTS INCORPORATED BY REFERENCE                                                                                       |   |
|---------------------------------------------------------------------------------------------------------------------------|--------|
|  PART I                                                                                                              |   |
| Item 1. Business                                                                                                          |   |
| Item 1A. Risk Factors                                                                                                     |   |
| Item 1B. Unresolved Staff Comments                                                                                        |   |
| Selected Statistical Information                                                                                          |   |
| Item 2. Properties                                                                                                        |   |
| Item 3. Legal Proceedings                                                                                                 |   |
| Item 4. [Removed and Reserved]                                                                                       |   |
| PART II                                                                                                                   |   |
| Item 5. Market for the Registrant's Common Equity, Related Shareholder Matters, and Issuer Purchases of Equity Securities |   |
| Item 6. Selected Financial Data 2006-2010                                                                                 |   |
| Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations                             |   |
| Item 7A. Quantitative and Qualitative Disclosures about Market Risk                                                       |   |
| Item 8. Financial Statements and Supplementary Data                                                                       |   |
| Notes to Consolidated Financial Statements                                                                                |   |
| Reports of Independent Registered Public Accounting Firm                                                                  |   |
| Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                              |   |
| Item 9A. Controls and Procedures                                                                                          |   |
| Item 9B. Other Information                                                                                           |   |
| PART III                                                                                                                  |   |
| Item 10. Directors, Executive Officers, and Corporate Governance of the Registrant                                        |   |
| Item 11.  Executive Compensation                                                                                |   |
| Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters                   |   |
| Item 13. Certain Relationships, Related Transactions, and Director Independence                                           |   |
| Item 14. Principal Accountant Fees and Services                                                                      |   |
| PART IV                                                                                                                   |   |
| Item 15. Exhibits and Financial Statement Schedules                                                                  |   |
| Signatures                                                                                                           |   |
| Index to Exhibits                                                                                                         |   |

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DOCUMENTS INCORPORATED BY REFERENCE

| Document                                                                                        | Form 10-K |
|-------------------------------------------------------------------------------------------------|-----------|
| (1)  Proxy statement for the annual meeting of shareholders to be held April 26, 2011 | Part III  |

----

PART I

Item 1.  Business

| ·   | Broaden the base for FDIC insurance assessments, eliminate the ceiling and increase the size of the floor of the Deposit Insurance Fund, and offset the impact of the minimum floor on institutions with less than $10 billion in assets. Assessments will now be based on the average consolidated total assets less tangible equity capital of a financial institution. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Remove the federal prohibition on payment of interest on demand deposits, thereby permitting businesses to have interest bearing checking accounts. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Require new capital regulations to be adopted within 18 months.  These regulations must be at least as stringent as, and may call for higher levels of capital than, current regulations.  The same leverage and risk based capital requirements that apply to depository institutions will apply to holding companies.  New issuances of trust preferred securities will no longer be eligible to qualify as Tier 1 capital.  However, CTBI’s currently outstanding trust preferred securities are grandfathered and will still be considered in Tier 1 capital under the regulations. Under Dodd-Frank, and previously under Federal Reserve policy, we are required to act as a source of financial strength for our bank subsidiary and to commit sufficient resources to support it. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Create a new agency, the Consumer Financial Protection Bureau, responsible for the implementation of federal consumer protection laws.  The Bureau will have broad rule-making authority for a wide range of consumer protection laws that apply to all banks, including the authority to prohibit "unfair, deceptive or abusive" acts and practices.  The Bureau will have examination and enforcement authority over all banks with more than $10 billion in assets.  Although CTBI does not have assets of more than $10 billion, any change in regulatory environment may have a negative impact on all financial institutions. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Permanently increase the maximum amount of deposit insurance for banks, savings institutions and credit unions to $250,000 per depositor, retroactive to January 1, 2008, with noninterest bearing transaction accounts and IOLTA accounts having unlimited deposit insurance through December 31, 2012. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Increase the authority of the Federal Reserve Board to examine CTBI and its non-bank subsidiaries and give the Federal Reserve Board the authority to establish rules regarding interchange fees charged for electronic debit transactions by payment card issuers having assets over $10 billion and to enforce a new statutory requirement that such fees be reasonable and proportional to the actual cost of a transaction to the issuer. The Federal Reserve Board recently proposed capping such fees at seven to 12 cents, subject to adjustment for fraud prevention costs.  Although this requirement does not apply to CTBI, it may impact our ability to generate revenue at the same level as we have in the past. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Restrict proprietary trading by banks, bank holding companies and others, and their acquisition and retention of ownership interests in and sponsorship of hedge funds and private equity funds, subject to an exception allowing a bank to organize and offer hedge funds and private equity funds to customers if certain conditions are met, including, among others, a requirement that the bank limit its ownership interest in any single fund to 3%, and its aggregate investment in all funds to 3%, of Tier 1 capital, with no director or employee of the bank holding an ownership interest in the fund unless he or she provides services directly to the funds. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Require publicly traded companies to give stockholders a non-binding vote on executive compensation and so-called "golden parachute" payments in mergers and acquisitions, and authorize the Securities and Exchange Commission to promulgate rules that would allow stockholders to nominate their own director candidates using a company's proxy materials. The legislation also directs the federal banking regulators to issue rules prohibiting incentive compensation that encourages inappropriate risks. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Impose new restrictions related to mortgage lending, such as new minimum underwriting standards, require certain loan provision qualifications, limitations on mortgage terms and additional disclosures to mortgage borrowers, and prohibit certain yield-spread compensation to mortgage originators. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Permit banks to establish de novo interstate branches at a location where a bank based in that state could establish a branch, and require banks and bank holding companies to be well-capitalized and well-managed in order to acquire banks outside their home state. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

Item 1A. Risk Factors

| ·   | Clients may not want, need, or qualify for our products and services; |
|--------------------|-----------------------------------------------------------------------|

| ·   | Borrowers may not be able to repay their loans; |
|--------------------|-------------------------------------------------|

| ·   | The value of the collateral securing our loans to borrowers may decline; and |
|--------------------|------------------------------------------------------------------------------|

| ·   | The quality of our loan portfolio may decline. |
|--------------------|------------------------------------------------|

| ·   | The rate of inflation; |
|--------------------|------------------------|

| ·   | The rate of economic growth; |
|--------------------|------------------------------|

| ·   | Employment levels; |
|--------------------|--------------------|

| ·   | Monetary policies; and |
|--------------------|------------------------|

| ·   | Instability in domestic and foreign financial markets. |
|--------------------|--------------------------------------------------------|

| ·   | The length and severity of downturns in the local economies in which we operate or the national economy; |
|--------------------|----------------------------------------------------------------------------------------------------------|

| ·   | The length and severity of downturns in one or more of the business sectors in which our customers operate, particularly the automobile, hotel/motel, coal, and residential development industries; or |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | A rapid increase in interest rates. |
|--------------------|-------------------------------------|

| ·   | Commercial Real Estate Loans.  Repayment is dependent on income being generated in amounts sufficient to cover operating expenses and debt service.  These loans also involve greater risks because they are generally not fully amortizing over a loan period, but rather have a balloon payment due at maturity.  A borrower’s ability to make a balloon payment typically will depend on being able to either refinance the loan or timely sell the underlying property.  As of December 31, 2010, commercial real estate loans, including multi-family loans, comprised approximately 31% of our total loan portfolio. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Other Commercial Loans.  Repayment is generally dependent upon the successful operation of the borrower’s business.  In addition, the collateral securing the loans may depreciate over time, be difficult to appraise, be illiquid, or fluctuate in value based on the success of the business.  As of December 31, 2010, other commercial loans comprised approximately 15% of our total loan portfolio. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Construction and Development Loans.  The risk of loss is largely dependent on our initial estimate of whether the property’s value at completion equals or exceeds the cost of property construction and the availability of take-out financing.  During the construction phase, a number of factors can result in delays or cost overruns.  If our estimate is inaccurate or if actual construction costs exceed estimates, the value of the property securing our loan may be insufficient to ensure full repayment when completed through a permanent loan, sale of the property, or by seizure of collateral.  As of December 31, 2010, construction and development loans comprised approximately 7% of our total loan portfolio. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Safety and soundness guidelines; |
|--------------------|----------------------------------|

| ·   | Compliance with all laws including the USA Patriot Act, the International Money Laundering Abatement and Anti-Terrorist Financing Act, the Sarbanes-Oxley Act and the related rules and regulations promulgated under such Act or the Exchange Act, the Equal Credit Opportunity Act, the Fair Housing Act, the Community Reinvestment Act, the Home Mortgage Disclosure Act, and all other applicable fair lending laws and other laws relating to discriminatory business practices; and |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Anti-competitive concerns with the proposed transaction. |
|--------------------|----------------------------------------------------------|

----

| ·   | Actual or anticipated variations in earnings; |
|--------------------|-----------------------------------------------|

| ·   | Changes in analysts' recommendations or projections; |
|--------------------|------------------------------------------------------|

| ·   | CTBI's announcements of developments related to our businesses; |
|--------------------|-----------------------------------------------------------------|

| ·   | Operating and stock performance of other companies deemed to be peers; |
|--------------------|------------------------------------------------------------------------|

| ·   | New technology used or services offered by traditional and non-traditional competitors; and |
|--------------------|---------------------------------------------------------------------------------------------|

| ·   | News reports of trends, concerns, and other issues related to the financial services industry. |
|--------------------|------------------------------------------------------------------------------------------------|

Item 1B. Unresolved Staff Comments

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SELECTED STATISTICAL INFORMATION

|                                                   |   | 2010            |      |   | 2009     |   |    | 2008        |   |
|--------------------------------------------------------|--------|-----------------|-----------|--------|----------|--------|---------|-------------|--------|
| (in thousands)                                         |   | AverageBalances |      |   | Interest |   |    | AverageRate |   |   | AverageBalances |   |   | Interest |   |   | AverageRate |   |   | AverageBalances |   |   | Interest |   |   | AverageRate |   |
| Earning assets:                                        |   |            |      |   |     |   |    |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans (1)(2)(3)                                        |   | $               | 2,461,225 |   |     | $      | 142,519 |        |   |   | 5.79 | % |   | $ | 2,383,875 |   |   | $ | 139,677 |   |   |   | 5.86 | % |   | $ | 2,283,180 |   |   | $ | 150,413 |   |   |   | 6.59 | % |
| Loans held for sale                                    |   |            | 1,040     |   |     |   | 111     |        |   |   | 10.67 | % |   |   | 1,580 |   |   |   | 359 |   |   |   | 22.72 | % |   |   | 1,752 |   |   |   | 171 |   |   |   | 9.76 | % |
| Securities:                                            |   |            |      |   |     |   |    |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S. Treasury and agencies                             |   |            | 249,835   |   |     |   | 7,983   |        |   |   | 3.20 | % |   |   | 237,641 |   |   |   | 8,792 |   |   |   | 3.70 | % |   |   | 249,515 |   |   |   | 10,912 |   |   |   | 4.37 | % |
| Tax exempt state and political subdivisions (3)        |   |            | 43,128    |   |     |   | 2,456   |        |   |   | 5.69 | % |   |   | 47,801 |   |   |   | 2,839 |   |   |   | 5.94 | % |   |   | 45,146 |   |   |   | 2,875 |   |   |   | 6.37 | % |
| Other securities                                       |   |            | 36,927    |   |     |   | 951     |        |   |   | 2.58 | % |   |   | 20,812 |   |   |   | 777 |   |   |   | 3.73 | % |   |   | 32,842 |   |   |   | 1,723 |   |   |   | 5.25 | % |
| Federal Reserve Bank and Federal Home Loan Bank stock  |   |            | 29,183    |   |     |   | 1,351   |        |   |   | 4.63 | % |   |   | 29,047 |   |   |   | 1,402 |   |   |   | 4.83 | % |   |   | 28,549 |   |   |   | 1,559 |   |   |   | 5.46 | % |
| Federal funds sold                                     |   |            | 89,598    |   |     |   | 234     |        |   |   | 0.26 | % |   |   | 66,619 |   |   |   | 193 |   |   |   | 0.29 | % |   |   | 53,816 |   |   |   | 1,083 |   |   |   | 2.01 | % |
| Interest bearing deposits                              |   |            | 37,989    |   |     |   | 85      |        |   |   | 0.22 | % |   |   | 24,203 |   |   |   | 54 |   |   |   | 0.22 | % |   |   | 6,297 |   |   |   | 121 |   |   |   | 1.92 | % |
| Other investments                                      |   |            | 11,190    |   |     |   | 77      |        |   |   | 0.69 | % |   |   | 17,267 |   |   |   | 131 |   |   |   | 0.76 | % |   |   | 100 |   |   |   | 3 |   |   |   | 3.00 | % |
| Investment in unconsolidated subsidiaries              |   |            | 1,856     |   |     |   | 120     |        |   |   | 6.47 | % |   |   | 1,856 |   |   |   | 120 |   |   |   | 6.47 | % |   |   | 1,857 |   |   |   | 120 |   |   |   | 6.46 | % |
| Total earning assets                                   |   |            | 2,961,971 |   |     | $      | 155,887 |        |   |   | 5.26 | % |   |   | 2,830,701 |   |   | $ | 154,344 |   |   |   | 5.45 | % |   |   | 2,703,054 |   |   | $ | 168,980 |   |   |   | 6.25 | % |
| Allowance for loan and lease losses                    |   |            | (35,741   | )      |     |   |    |        |   |   |   |   |   |   | (32,599 | ) |   |   |   |   |   |   |   |   |   |   | (29,901 | ) |   |   |   |   |   |   |   |   |
|                                                   |   |            | 2,926,230 |   |     |   |    |        |   |   |   |   |   |   | 2,798,102 |   |   |   |   |   |   |   |   |   |   |   | 2,673,153 |   |   |   |   |   |   |   |   |   |
| Nonearning assets:                                     |   |            |      |   |     |   |    |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash and due from banks                                |   |            | 66,740    |   |     |   |    |        |   |   |   |   |   |   | 59,940 |   |   |   |   |   |   |   |   |   |   |   | 74,264 |   |   |   |   |   |   |   |   |   |
| Premises and equipment, net                            |   |            | 49,468    |   |     |   |    |        |   |   |   |   |   |   | 50,843 |   |   |   |   |   |   |   |   |   |   |   | 52,559 |   |   |   |   |   |   |   |   |   |
| Other assets                                           |   |            | 177,649   |   |     |   |    |        |   |   |   |   |   |   | 138,215 |   |   |   |   |   |   |   |   |   |   |   | 121,241 |   |   |   |   |   |   |   |   |   |
| Total assets                                           |   | $               | 3,220,087 |   |     |   |    |        |   |   |   |   |   | $ | 3,047,100 |   |   |   |   |   |   |   |   |   |   | $ | 2,921,217 |   |   |   |   |   |   |   |   |   |
|                                                   |   |            |      |   |     |   |    |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest bearing liabilities:                          |   |            |      |   |     |   |    |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits:                                              |   |            |      |   |     |   |    |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Savings and demand deposits                            |   | $               | 668,255   |   |     | $      | 3,074   |        |   |   | 0.46 | % |   | $ | 666,874 |   |   | $ | 4,002 |   |   |   | 0.60 | % |   | $ | 655,577 |   |   | $ | 7,885 |   |   |   | 1.20 | % |
| Time deposits                                          |   |            | 1,392,510 |   |     |   | 26,078  |        |   |   | 1.87 | % |   |   | 1,271,072 |   |   |   | 35,791 |   |   |   | 2.82 | % |   |   | 1,204,550 |   |   |   | 45,964 |   |   |   | 3.82 | % |
| Repurchase agreements and federal funds purchased |   |            | 198,880   |   |     |   | 2,027   |        |   |   | 1.02 | % |   |   | 180,044 |   |   |   | 2,457 |   |   |   | 1.36 | % |   |   | 170,231 |   |   |   | 4,424 |   |   |   | 2.60 | % |
| Advances from Federal Home Loan Bank                   |   |            | 20,286    |   |     |   | 79      |        |   |   | 0.39 | % |   |   | 47,434 |   |   |   | 1,291 |   |   |   | 2.72 | % |   |   | 49,001 |   |   |   | 1,701 |   |   |   | 3.47 | % |
| Long-term debt                                         |   |            | 61,341    |   |     |   | 3,999   |        |   |   | 6.52 | % |   |   | 61,341 |   |   |   | 3,999 |   |   |   | 6.52 | % |   |   | 61,341 |   |   |   | 4,000 |   |   |   | 6.52 | % |
| Total interest bearing liabilities                     |   |            | 2,341,272 |   |     | $      | 35,257  |        |   |   | 1.51 | % |   |   | 2,226,765 |   |   | $ | 47,540 |   |   |   | 2.13 | % |   |   | 2,140,700 |   |   | $ | 63,974 |   |   |   | 2.99 | % |
| Noninterest bearing liabilities:                       |   |            |      |   |     |   |    |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand deposits                                        |   |            | 514,196   |   |     |   |    |        |   |   |   |   |   |   | 471,902 |   |   |   |   |   |   |   |   |   |   |   | 443,593 |   |   |   |   |   |   |   |   |   |
| Other liabilities                                      |   |            | 30,974    |   |     |   |    |        |   |   |   |   |   |   | 30,722 |   |   |   |   |   |   |   |   |   |   |   | 28,523 |   |   |   |   |   |   |   |   |   |
| Total liabilities                                      |   |            | 2,886,442 |   |     |   |    |        |   |   |   |   |   |   | 2,729,389 |   |   |   |   |   |   |   |   |   |   |   | 2,612,816 |   |   |   |   |   |   |   |   |   |
|                                                   |   |            |      |   |     |   |    |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Shareholders’ equity                             |   |            | 333,645   |   |     |   |    |        |   |   |   |   |   |   | 317,711 |   |   |   |   |   |   |   |   |   |   |   | 308,401 |   |   |   |   |   |   |   |   |   |
| Total liabilities and shareholders’ equity       |   | $               | 3,220,087 |   |     |   |    |        |   |   |   |   |   | $ | 3,047,100 |   |   |   |   |   |   |   |   |   |   | $ | 2,921,217 |   |   |   |   |   |   |   |   |   |
|                                                   |   |            |      |   |     |   |    |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income                                    |   |            |      |   |     | $      | 120,630 |        |   |   |   |   |   |   |   |   |   | $ | 106,804 |   |   |   |   |   |   |   |   |   |   | $ | 105,006 |   |   |   |   |   |
| Net interest spread                                    |   |            |      |   |     |   |    |        |   |   | 3.75 | % |   |   |   |   |   |   |   |   |   |   | 3.32 | % |   |   |   |   |   |   |   |   |   |   | 3.26 | % |
| Benefit of interest free funding                       |   |            |      |   |     |   |    |        |   |   | 0.32 | % |   |   |   |   |   |   |   |   |   |   | 0.45 | % |   |   |   |   |   |   |   |   |   |   | 0.62 | % |
| Net interest margin                                    |   |            |      |   |     |   |    |        |   |   | 4.07 | % |   |   |   |   |   |   |   |   |   |   | 3.77 | % |   |   |   |   |   |   |   |   |   |   | 3.88 | % |

----

|                                                  |   | Total Change |      |   | Change Due to |   |   | Total Change |   |   | Change Due to |   |
|-------------------------------------------------------|--------|--------------|-----------|--------|---------------|--------|--------|--------------|--------|--------|---------------|--------|
| (in thousands)                                        |   |         | 2010/2009 |   |          | Volume |   |         | Rate   |   |          |   | 2009/2008 |   |   | Volume |   |   | Rate |   |
| Interest income                                       |   |         |      |   |          |   |   |         |   |   |          |   |   |   |   |   |   |   |   |   |
| Loans                                                 |   | $            | 2,842     |   |          | $      | 4,493  |         |   | $      | (1,651        | )      |   | $ | (10,736 | ) |   | $ | 6,424 |   |   | $ | (17,160 | ) |
| Loans held for sale                                   |   |         | (248      | )      |          |   | (148   | )            |   |   | (100          | )      |   |   | 188 |   |   |   | (15 | ) |   |   | 203 |   |
| U.S. Treasury and agencies                            |   |         | (809      | )      |          |   | 434    |         |   |   | (1,243        | )      |   |   | (2,120 | ) |   |   | (538 | ) |   |   | (1,582 | ) |
| Tax exempt state and political subdivisions           |   |         | (383      | )      |          |   | (286   | )            |   |   | (97           | )      |   |   | (36 | ) |   |   | 164 |   |   |   | (200 | ) |
| Other securities                                      |   |         | 174       |   |          |   | 468    |         |   |   | (294          | )      |   |   | (946 | ) |   |   | (733 | ) |   |   | (213 | ) |
| Federal Reserve Bank and Federal Home Loan Bank stock |   |         | (51       | )      |          |   | 7      |         |   |   | (58           | )      |   |   | (157 | ) |   |   | 27 |   |   |   | (184 | ) |
| Federal funds sold                                    |   |         | 41        |   |          |   | 61     |         |   |   | (20           | )      |   |   | (890 | ) |   |   | 210 |   |   |   | (1,100 | ) |
| Interest bearing deposits                             |   |         | 31        |   |          |   | 31     |         |   |   | 0             |   |   |   | (67 | ) |   |   | 112 |   |   |   | (179 | ) |
| Other investments                                     |   |         | (54       | )      |          |   | (49    | )            |   |   | (5            | )      |   |   | 128 |   |   |   | 132 |   |   |   | (4 | ) |
| Investment in unconsolidated subsidiaries             |   |         | 0         |   |          |   | 0      |         |   |   | 0             |   |   |   | 0 |   |   |   | 0 |   |   |   | 0 |   |
| Total interest income                                 |   |         | 1,543     |   |          |   | 5,011  |         |   |   | (3,468        | )      |   |   | (14,636 | ) |   |   | 5,783 |   |   |   | (20,419 | ) |
|                                                  |   |         |      |   |          |   |   |         |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                      |   |         |      |   |          |   |   |         |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Savings and demand deposits                           |   |         | (928      | )      |          |   | 8      |         |   |   | (936          | )      |   |   | (3,883 | ) |   |   | 134 |   |   |   | (4,017 | ) |
| Time deposits                                         |   |         | (9,713    | )      |          |   | 3,165  |         |   |   | (12,878       | )      |   |   | (10,173 | ) |   |   | 2,423 |   |   |   | (12,596 | ) |
| Repurchase agreements and federal funds purchased     |   |         | (430      | )      |          |   | 238    |         |   |   | (668          | )      |   |   | (1,967 | ) |   |   | 242 |   |   |   | (2,209 | ) |
| Advances from Federal Home Loan Bank                  |   |         | (1,212    | )      |          |   | (992   | )            |   |   | (220          | )      |   |   | (410 | ) |   |   | (56 | ) |   |   | (354 | ) |
| Long-term debt                                        |   |         | 0         |   |          |   | 0      |         |   |   | 0             |   |   |   | (1 | ) |   |   | 0 |   |   |   | (1 | ) |
| Total interest expense                                |   |         | (12,283   | )      |          |   | 2,419  |         |   |   | (14,702       | )      |   |   | (16,434 | ) |   |   | 2,743 |   |   |   | (19,177 | ) |
|                                                  |   |         |      |   |          |   |   |         |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income                                   |   | $            | 13,826    |   |          | $      | 2,592  |         |   | $      | 11,234        |   |   | $ | 1,798 |   |   | $ | 3,040 |   |   | $ | (1,242 | ) |

|                                                                  |   | Estimated Maturity at December 31, 2010 |   |
|-----------------------------------------------------------------------|--------|-----------------------------------------|--------|
|                                                                  |   | Within 1 Year                           |   |   | 1-5 Years |   |   | 5-10 Years |   |   | After 10 Years |   |   | Total Fair Value |   |   | Amortized Cost |   |
| (in thousands)                                                        |   | Amount                                  |   |   | Yield |   |   | Amount |   |   | Yield |   |   | Amount |   |   | Yield |   |   | Amount |   |   | Yield |   |   | Amount |   |   | Yield |   |   | Amount |   |
| U.S. Treasury, government agencies, and government sponsored agencies |   | $                                       | 9,480  |   |   |   | 4.62 | % |   | $ | 230,006 |   |   |   | 3.52 | % |   | $ | 25,650 |   |   |   | 3.09 | % |   | $ | 1,361 |   |   |   | 4.06 | % |   | $ | 266,497 |   |   |   | 3.52 | % |   | $ | 260,059 |   |
| State and municipal obligations                                       |   |                                    | 3,372  |   |   |   | 5.25 |   |   |   | 14,570 |   |   |   | 4.83 |   |   |   | 12,457 |   |   |   | 4.95 |   |   |   | 21,466 |   |   |   | 5.56 |   |   |   | 51,865 |   |   |   | 5.19 |   |   |   | 52,017 |   |
| Other securities                                                      |   |                                    | 0      |   |   |   | 0.00 |   |   |   | 20,052 |   |   |   | 3.27 |   |   |   | 0 |   |   |   | 0.00 |   |   |   | 261 |   |   |   | 3.66 |   |   |   | 20,313 |   |   |   | 3.28 |   |   |   | 20,582 |   |
| Total                                                                 |   | $                                       | 12,852 |   |   |   | 4.78 | % |   | $ | 264,628 |   |   |   | 3.58 | % |   | $ | 38,107 |   |   |   | 3.70 | % |   | $ | 23,088 |   |   |   | 5.45 | % |   | $ | 338,675 |   |   |   | 3.76 | % |   | $ | 332,658 |   |

|                            |   | Estimated Maturity at December 31, 2010 |   |
|---------------------------------|--------|-----------------------------------------|--------|
|                            |   | Within 1 Year                           |   |   | 1-5 Years |   |   | 5-10 Years |   |   | After 10 Years |   |   | TotalAmortized Cost |   |   | FairValue |   |
| (in thousands)                  |   | Amount                                  |   |   | Yield |   |   | Amount |   |   | Yield |   |   | Amount |   |   | Yield |   |   | Amount |   |   | Yield |   |   | Amount |   |   | Yield |   |   | Amount |   |
| State and municipal obligations |   | $                                       | 0      |   |   |   | 0.00 | % |   | $ | 0 |   |   |   | 0.00 | % |   | $ | 1,182 |   |   |   | 4.45 | % |   | $ | 0 |   |   |   | 0.00 | % |   | $ | 1,182 |   |   |   | 4.45 | % |   | $ | 1,182 |   |
| Other securities                |   |                                    | 0      |   |   |   | 0.00 |   |   |   | 480 |   |   |   | 2.82 |   |   |   | 0 |   |   |   | 0.00 |   |   |   | 0 |   |   |   | 0.00 |   |   |   | 480 |   |   |   | 2.82 |   |   |   | 480 |   |
| Total                           |   | $                                       | 0      |   |   |   | 0.00 | % |   | $ | 480 |   |   |   | 2.82 | % |   | $ | 1,182 |   |   |   | 4.45 | % |   | $ | 0 |   |   |   | 0.00 | % |   | $ | 1,662 |   |   |   | 3.98 | % |   | $ | 1,662 |   |
|                            |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                            |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total securities                |   | $                                       | 12,852 |   |   |   | 4.78 | % |   | $ | 265,108 |   |   |   | 3.57 | % |   | $ | 39,289 |   |   |   | 3.72 | % |   | $ | 23,088 |   |   |   | 5.45 | % |   | $ | 340,337 |   |   |   | 3.76 | % |   | $ | 334,320 |   |

----

| (in thousands)                        |   | Available-for-Sale |    |   | Held-to-Maturity |   |
|---------------------------------------|--------|--------------------|---------|--------|------------------|--------|
| U.S. Treasury and government agencies |   | $                  | 18,330  |   |             | $      | 0 |   |
| State and political subdivisions      |   |               | 39,738  |   |             |   | 1,576 |   |
| U.S. government sponsored agencies    |   |               | 187,390 |   |             |   | 24,021 |   |
| Collateralized mortgage obligations   |   |               | 1       |   |             |   | 0 |   |
| Total debt securities                 |   |               | 245,459 |   |             |   | 25,597 |   |
| Marketable equity securities          |   |               | 20,540  |   |             |   | 0 |   |
| Total securities                      |   | $                  | 265,999 |   |             | $      | 25,597 |   |

| (in thousands)                  |   | 2010   |      |   | 2009   |   |      | 2008   |   |   | 2007      |   |   | 2006   |      |
|---------------------------------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|--------|-----------|
| Commercial:                     |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |
| Construction                    |   | $      | 135,091   |   |   | $      | 141,440   |   |   | $      | 156,425   |   |   | $      | 143,773   |   |   | $ | 133,902 |   |
| Secured by real estate          |   |   | 807,049   |   |   |   | 707,500   |   |   |   | 663,663   |   |   |   | 640,574   |   |   |   | 632,881 |   |
| Equipment lease financing       |   |   | 14,151    |   |   |   | 20,048    |   |   |   | 12,343    |   |   |   | 5,817     |   |   |   | 11,524 |   |
| Other commercial                |   |   | 388,746   |   |   |   | 373,829   |   |   |   | 365,685   |   |   |   | 333,774   |   |   |   | 337,075 |   |
| Total commercial                |   |   | 1,345,037 |   |   |   | 1,242,817 |   |   |   | 1,198,116 |   |   |   | 1,123,938 |   |   |   | 1,115,382 |   |
|                            |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Residential:                    |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Real estate construction        |   |   | 56,910    |   |   |   | 51,311    |   |   |   | 56,298    |   |   |   | 69,021    |   |   |   | 50,588 |   |
| Real estate mortgage            |   |   | 623,851   |   |   |   | 528,592   |   |   |   | 524,827   |   |   |   | 511,458   |   |   |   | 481,857 |   |
| Home equity                     |   |   | 85,103    |   |   |   | 82,135    |   |   |   | 84,567    |   |   |   | 88,207    |   |   |   | 97,340 |   |
| Total residential               |   |   | 765,864   |   |   |   | 662,038   |   |   |   | 665,692   |   |   |   | 668,686   |   |   |   | 629,785 |   |
|                            |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Consumer:                       |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Consumer direct                 |   |   | 126,046   |   |   |   | 115,555   |   |   |   | 117,186   |   |   |   | 119,971   |   |   |   | 120,975 |   |
| Consumer indirect               |   |   | 368,233   |   |   |   | 415,350   |   |   |   | 367,657   |   |   |   | 315,302   |   |   |   | 301,316 |   |
| Total consumer                  |   |   | 494,279   |   |   |   | 530,905   |   |   |   | 484,843   |   |   |   | 435,273   |   |   |   | 422,291 |   |
|                            |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Total loans                     |   | $      | 2,605,180 |   |   | $      | 2,435,760 |   |   | $      | 2,348,651 |   |   | $      | 2,227,897 |   |   | $ | 2,167,458 |   |
|                            |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Percent of total year-end loans |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Commercial:                     |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Construction                    |   |   | 5.19      | %      |   |   | 5.80      | %      |   |   | 6.65      | %      |   |   | 6.45      | % |   |   | 6.18 | % |
| Secured by real estate          |   |   | 30.98     |   |   |   | 29.05     |   |   |   | 28.26     |   |   |   | 28.75     |   |   |   | 29.20 |   |
| Equipment lease financing       |   |   | 0.54      |   |   |   | 0.82      |   |   |   | 0.53      |   |   |   | 0.26      |   |   |   | 0.53 |   |
| Other commercial                |   |   | 14.92     |   |   |   | 15.35     |   |   |   | 15.57     |   |   |   | 14.98     |   |   |   | 15.55 |   |
| Total commercial                |   |   | 51.63     |   |   |   | 51.02     |   |   |   | 51.01     |   |   |   | 50.44     |   |   |   | 51.46 |   |
|                            |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Residential:                    |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Real estate construction        |   |   | 2.18      |   |   |   | 2.11      |   |   |   | 2.40      |   |   |   | 3.10      |   |   |   | 2.34 |   |
| Real estate mortgage            |   |   | 23.95     |   |   |   | 21.70     |   |   |   | 22.35     |   |   |   | 22.96     |   |   |   | 22.23 |   |
| Home equity                     |   |   | 3.27      |   |   |   | 3.37      |   |   |   | 3.60      |   |   |   | 3.96      |   |   |   | 4.49 |   |
| Total residential               |   |   | 29.40     |   |   |   | 27.18     |   |   |   | 28.35     |   |   |   | 30.02     |   |   |   | 29.06 |   |
|                            |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Consumer:                       |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Consumer direct                 |   |   | 4.84      |   |   |   | 4.74      |   |   |   | 4.99      |   |   |   | 5.38      |   |   |   | 5.58 |   |
| Consumer indirect               |   |   | 14.13     |   |   |   | 17.06     |   |   |   | 15.65     |   |   |   | 14.16     |   |   |   | 13.90 |   |
| Total consumer                  |   |   | 18.97     |   |   |   | 21.80     |   |   |   | 20.64     |   |   |   | 19.54     |   |   |   | 19.48 |   |
|                            |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Total loans                     |   |   | 100.00    | %      |   |   | 100.00    | %      |   |   | 100.00    | %      |   |   | 100.00    | % |   |   | 100.00 | % |

|                                                   |   | Maturity at December 31, 2010 |    |
|--------------------------------------------------------|--------|-------------------------------|---------|
| (in thousands)                                         |   | Within One Year               |    |   | After One but Within Five Years |   |   | After Five Years |   |   | Total |   |
| Commercial secured by real estate and commercial other |   | $                             | 251,999 |   |   | $ | 274,750 |   |   | $ | 669,046 |   |   | $ | 1,195,795 |   |
| Commercial and real estate construction                |   |                          | 119,552 |   |   |   | 18,639 |   |   |   | 53,810 |   |   |   | 192,001 |   |
|                                                   |   | $                             | 371,551 |   |   | $ | 293,389 |   |   | $ | 722,856 |   |   | $ | 1,387,796 |   |
|                                                   |   |                          |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Rate sensitivity:                                      |   |                          |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed rate                                             |   | $                             | 80,865  |   |   | $ | 45,679 |   |   | $ | 55,974 |   |   | $ | 182,518 |   |
| Adjustable rate                                        |   |                          | 290,686 |   |   |   | 247,710 |   |   |   | 666,882 |   |   |   | 1,205,278 |   |
|                                                   |   | $                             | 371,551 |   |   | $ | 293,389 |   |   | $ | 722,856 |   |   | $ | 1,387,796 |   |

----

| (in thousands)                                                       |   | 2010   |    |   | 2009   |   |   | 2008   |   |   | 2007   |   |   | 2006   |   |
|----------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Nonaccrual loans                                                     |   | $      | 45,021  |   |   | $      | 32,247 |   |   | $      | 40,945 |   |   | $      | 22,230 |   |   | $ | 9,863 |   |
| 90 days or more past due and still accruing interest                 |   |   | 17,014  |   |   |   | 9,067  |   |   |   | 11,245 |   |   |   | 9,622  |   |   |   | 4,294 |   |
| Total nonperforming loans                                            |   |   | 62,035  |   |   |   | 41,314 |   |   |   | 52,190 |   |   |   | 31,859 |   |   |   | 14,157 |   |
|                                                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other repossessed assets                                             |   |   | 129     |   |   |   | 276    |   |   |   | 239    |   |   |   | 241    |   |   |   | 3 |   |
| Foreclosed properties                                                |   |   | 42,935  |   |   |   | 37,333 |   |   |   | 10,425 |   |   |   | 7,851  |   |   |   | 4,524 |   |
| Total nonperforming assets                                           |   | $      | 105,099 |   |   | $      | 78,923 |   |   | $      | 62,854 |   |   | $      | 39,951 |   |   | $ | 18,684 |   |
|                                                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Nonperforming assets to total loans and foreclosed properties/assets |   |   | 3.97    | %      |   |   | 3.19   | %      |   |   | 2.66   | %      |   |   | 1.79   | % |   |   | 0.86 | % |
| Allowance to nonperforming loans                                     |   |   | 56.10   | %      |   |   | 79.01  | %      |   |   | 59.06  | %      |   |   | 88.06  | % |   |   | 194.43 | % |

| (in thousands)                    |   | Nonaccrual loans |   |   | As a % of Loan Balances by Category |   |   | Accruing Loans Past Due 90 Days or More |   |   | As a % of Loan Balances by Category |   |   | Balances |   |
|-----------------------------------|--------|------------------|--------|--------|-------------------------------------|--------|--------|-----------------------------------------|--------|--------|-------------------------------------|--------|--------|----------|--------|
| December 31, 2010                 |   |             |   |   |                                |   |   |                                    |   |   |                                |   |   |     |   |
| Commercial construction           |   | $                | 13,138 |   |                                |   | 9.73   | %                                       |   | $      | 1,178                               |   |   |     | 0.87   | % |   | $ | 135,091 |   |
| Commercial secured by real estate |   |             | 15,608 |   |                                |   | 1.93   |                                    |   |   | 9,641                               |   |   |     | 1.19   |   |   |   | 807,049 |   |
| Equipment lease financing         |   |             | 0      |   |                                |   | 0.00   |                                    |   |   | 0                                   |   |   |     | 0.00   |   |   |   | 14,151 |   |
| Commercial other                  |   |             | 9,338  |   |                                |   | 2.40   |                                    |   |   | 1,692                               |   |   |     | 0.44   |   |   |   | 388,746 |   |
| Real estate construction          |   |             | 636    |   |                                |   | 1.12   |                                    |   |   | 372                                 |   |   |     | 0.65   |   |   |   | 56,910 |   |
| Real estate mortgage              |   |             | 6,137  |   |                                |   | 0.98   |                                    |   |   | 3,337                               |   |   |     | 0.53   |   |   |   | 623,851 |   |
| Home equity                       |   |             | 164    |   |                                |   | 0.19   |                                    |   |   | 226                                 |   |   |     | 0.27   |   |   |   | 85,103 |   |
| Consumer direct                   |   |             | 0      |   |                                |   | 0.00   |                                    |   |   | 70                                  |   |   |     | 0.06   |   |   |   | 126,046 |   |
| Consumer indirect                 |   |             | 0      |   |                                |   | 0.00   |                                    |   |   | 498                                 |   |   |     | 0.14   |   |   |   | 368,233 |   |
| Total                             |   | $                | 45,021 |   |                                |   | 1.73   | %                                       |   | $      | 17,014                              |   |   |     | 0.65   | % |   | $ | 2,605,180 |   |
|                              |   |             |   |   |                                |   |   |                                    |   |   |                                |   |   |     |   |   |   |   |   |   |
| December 31, 2009                 |   |             |   |   |                                |   |   |                                    |   |   |                                |   |   |     |   |   |   |   |   |   |
| Commercial construction           |   | $                | 12,312 |   |                                |   | 8.70   | %                                       |   | $      | 865                                 |   |   |     | 0.61   | % |   | $ | 141,440 |   |
| Commercial secured by real estate |   |             | 9,803  |   |                                |   | 1.39   |                                    |   |   | 5,640                               |   |   |     | 0.80   |   |   |   | 707,500 |   |
| Equipment lease financing         |   |             | 0      |   |                                |   | 0.00   |                                    |   |   | 0                                   |   |   |     | 0.00   |   |   |   | 20,048 |   |
| Commercial other                  |   |             | 4,489  |   |                                |   | 1.20   |                                    |   |   | 286                                 |   |   |     | 0.08   |   |   |   | 373,829 |   |
| Real estate construction          |   |             | 1,244  |   |                                |   | 2.42   |                                    |   |   | 0                                   |   |   |     | 0.00   |   |   |   | 51,311 |   |
| Real estate mortgage              |   |             | 3,781  |   |                                |   | 0.72   |                                    |   |   | 1,540                               |   |   |     | 0.29   |   |   |   | 528,592 |   |
| Home equity                       |   |             | 618    |   |                                |   | 0.75   |                                    |   |   | 158                                 |   |   |     | 0.19   |   |   |   | 82,135 |   |
| Consumer direct                   |   |             | 0      |   |                                |   | 0.00   |                                    |   |   | 160                                 |   |   |     | 0.14   |   |   |   | 115,555 |   |
| Consumer indirect                 |   |             | 0      |   |                                |   | 0.00   |                                    |   |   | 418                                 |   |   |     | 0.10   |   |   |   | 415,350 |   |
| Total                             |   | $                | 32,247 |   |                                |   | 1.32   | %                                       |   | $      | 9,067                               |   |   |     | 0.37   | % |   | $ | 2,435,760 |   |

----

|  (in thousands)                                                  |   | 2010   |      |   | 2009   |   |      | 2008   |   |   | 2007      |   |   | 2006   |      |
|-----------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|--------|-----------|
| Allowance for loan and lease losses, beginning of year                |   | $      | 32,643    |   |   | $      | 30,821    |   |   | $      | 28,054    |   |   | $      | 27,526    |   |   | $ | 29,506 |   |
| Loans charged off:                                                    |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Commercial construction                                               |   |   | 1,695     |   |   |   | 3,435     |   |   |   | 1,491     |   |   |   | 273       |   |   |   | 23 |   |
| Commercial secured by real estate                                     |   |   | 3,826     |   |   |   | 3,192     |   |   |   | 914       |   |   |   | 1,106     |   |   |   | 872 |   |
| Commercial other                                                      |   |   | 5,184     |   |   |   | 4,342     |   |   |   | 2,080     |   |   |   | 2,134     |   |   |   | 3,816 |   |
| Real estate construction                                              |   |   | 22        |   |   |   | 330       |   |   |   | 125       |   |   |   | 32        |   |   |   | 56 |   |
| Real estate mortgage                                                  |   |   | 684       |   |   |   | 858       |   |   |   | 458       |   |   |   | 414       |   |   |   | 538 |   |
| Home equity                                                           |   |   | 358       |   |   |   | 223       |   |   |   | 288       |   |   |   | 133       |   |   |   | 34 |   |
| Consumer direct                                                       |   |   | 1,256     |   |   |   | 1,892     |   |   |   | 1,891     |   |   |   | 1,602     |   |   |   | 1,657 |   |
| Consumer indirect                                                     |   |   | 4,611     |   |   |   | 4,587     |   |   |   | 4,051     |   |   |   | 2,738     |   |   |   | 2,434 |   |
| Total charge-offs                                                     |   |   | 17,636    |   |   |   | 18,859    |   |   |   | 11,298    |   |   |   | 8,432     |   |   |   | 9,430 |   |
|                                                                  |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Recoveries of loans previously charged off:                           |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Commercial construction                                               |   |   | 6         |   |   |   | 204       |   |   |   | 25        |   |   |   | 0         |   |   |   | 0 |   |
| Commercial secured by real estate                                     |   |   | 163       |   |   |   | 415       |   |   |   | 177       |   |   |   | 180       |   |   |   | 132 |   |
| Commercial other                                                      |   |   | 688       |   |   |   | 350       |   |   |   | 534       |   |   |   | 428       |   |   |   | 689 |   |
| Real estate construction                                              |   |   | 19        |   |   |   | 7         |   |   |   | 5         |   |   |   | 1         |   |   |   | 0 |   |
| Real estate mortgage                                                  |   |   | 99        |   |   |   | 132       |   |   |   | 50        |   |   |   | 242       |   |   |   | 192 |   |
| Home equity                                                           |   |   | 23        |   |   |   | 18        |   |   |   | 10        |   |   |   | 8         |   |   |   | 18 |   |
| Consumer direct                                                       |   |   | 635       |   |   |   | 792       |   |   |   | 654       |   |   |   | 680       |   |   |   | 848 |   |
| Consumer indirect                                                     |   |   | 1,681     |   |   |   | 1,295     |   |   |   | 1,158     |   |   |   | 881       |   |   |   | 1,266 |   |
| Total recoveries                                                      |   |   | 3,314     |   |   |   | 3,213     |   |   |   | 2,613     |   |   |   | 2,420     |   |   |   | 3,145 |   |
|                                                                  |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Net charge-offs:                                                      |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Commercial construction                                               |   |   | 1,689     |   |   |   | 3,231     |   |   |   | 1,466     |   |   |   | 273       |   |   |   | 23 |   |
| Commercial secured by real estate                                     |   |   | 3,663     |   |   |   | 2,777     |   |   |   | 737       |   |   |   | 926       |   |   |   | 740 |   |
| Commercial other                                                      |   |   | 4,496     |   |   |   | 3,992     |   |   |   | 1,546     |   |   |   | 1,706     |   |   |   | 3,127 |   |
| Real estate construction                                              |   |   | 3         |   |   |   | 323       |   |   |   | 120       |   |   |   | 31        |   |   |   | 56 |   |
| Real estate mortgage                                                  |   |   | 585       |   |   |   | 726       |   |   |   | 408       |   |   |   | 172       |   |   |   | 346 |   |
| Home equity                                                           |   |   | 335       |   |   |   | 205       |   |   |   | 278       |   |   |   | 125       |   |   |   | 16 |   |
| Consumer direct                                                       |   |   | 621       |   |   |   | 1,100     |   |   |   | 1,237     |   |   |   | 922       |   |   |   | 809 |   |
| Consumer indirect                                                     |   |   | 2,930     |   |   |   | 3,292     |   |   |   | 2,893     |   |   |   | 1,857     |   |   |   | 1,168 |   |
| Total net charge-offs                                                 |   |   | 14,322    |   |   |   | 15,646    |   |   |   | 8,685     |   |   |   | 6,012     |   |   |   | 6,285 |   |
|                                                                  |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Provisions charged against operations                                 |   |   | 16,484    |   |   |   | 17,468    |   |   |   | 11,452    |   |   |   | 6,540     |   |   |   | 4,305 |   |
|                                                                  |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Balance, end of year                                                  |   | $      | 34,805    |   |   | $      | 32,643    |   |   | $      | 30,821    |   |   | $      | 28,054    |   |   | $ | 27,526 |   |
|                                                                  |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Allocation of allowance, end of year:                                 |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Commercial construction                                               |   | $      | 4,332     |   |   | $      | 3,381     |   |   | $      | 3,645     |   |   | $      | 3,194     |   |   | $ | 2,059 |   |
| Commercial secured by real estate                                     |   |   | 12,327    |   |   |   | 10,961    |   |   |   | 11,304    |   |   |   | 9,081     |   |   |   | 7,224 |   |
| Commercial other                                                      |   |   | 7,392     |   |   |   | 7,472     |   |   |   | 5,782     |   |   |   | 4,817     |   |   |   | 4,335 |   |
| Equipment lease financing                                             |   |   | 148       |   |   |   | 221       |   |   |   | 191       |   |   |   | 76        |   |   |   | 126 |   |
| Real estate construction                                              |   |   | 271       |   |   |   | 291       |   |   |   | 281       |   |   |   | 335       |   |   |   | 206 |   |
| Real estate mortgage                                                  |   |   | 2,982     |   |   |   | 3,041     |   |   |   | 2,616     |   |   |   | 2,479     |   |   |   | 1,957 |   |
| Home equity                                                           |   |   | 407       |   |   |   | 455       |   |   |   | 422       |   |   |   | 428       |   |   |   | 395 |   |
| Consumer direct                                                       |   |   | 1,169     |   |   |   | 1,258     |   |   |   | 1,590     |   |   |   | 1,387     |   |   |   | 1,228 |   |
| Consumer indirect                                                     |   |   | 5,777     |   |   |   | 5,563     |   |   |   | 4,990     |   |   |   | 3,647     |   |   |   | 3,060 |   |
| Unallocated                                                           |   |   | 0         |   |   |   | 0         |   |   |   | 0         |   |   |   | 2,610     |   |   |   | 6,936 |   |
| Balance, end of year                                                  |   | $      | 34,805    |   |   | $      | 32,643    |   |   | $      | 30,821    |   |   | $      | 28,054    |   |   | $ | 27,526 |   |
|                                                                  |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Average loans outstanding, net of deferred loan costs and fees        |   | $      | 2,461,225 |   |   | $      | 2,383,875 |   |   | $      | 2,283,180 |   |   | $      | 2,205,431 |   |   | $ | 2,131,649 |   |
| Loans outstanding at end of year, net of deferred loan costs and fees |   | $      | 2,605,180 |   |   | $      | 2,435,760 |   |   | $      | 2,348,651 |   |   | $      | 2,227,897 |   |   | $ | 2,167,458 |   |
| Net charge-offs to average loan type:                                 |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Commercial construction                                               |   |   | 1.20      | %      |   |   | 2.22      | %      |   |   | 0.98      | %      |   |   | 0.19      | % |   |   | 0.02 | % |
| Commercial secured by real estate                                     |   |   | 0.48      |   |   |   | 0.40      |   |   |   | 0.11      |   |   |   | 0.14      |   |   |   | 0.11 |   |
| Commercial other                                                      |   |   | 1.24      |   |   |   | 1.07      |   |   |   | 0.43      |   |   |   | 0.51      |   |   |   | 0.99 |   |
| Real estate construction                                              |   |   | 0.01      |   |   |   | 0.64      |   |   |   | 0.19      |   |   |   | 0.05      |   |   |   | 0.11 |   |
| Real estate mortgage                                                  |   |   | 0.11      |   |   |   | 0.14      |   |   |   | 0.08      |   |   |   | 0.03      |   |   |   | 0.08 |   |
| Home equity                                                           |   |   | 0.40      |   |   |   | 0.25      |   |   |   | 0.33      |   |   |   | 0.14      |   |   |   | 0.02 |   |
| Consumer direct                                                       |   |   | 0.53      |   |   |   | 0.95      |   |   |   | 1.04      |   |   |   | 0.76      |   |   |   | 0.67 |   |
| Consumer indirect                                                     |   |   | 0.75      |   |   |   | 0.84      |   |   |   | 0.87      |   |   |   | 0.60      |   |   |   | 0.39 |   |
| Total                                                                 |   |   | 0.58      | %      |   |   | 0.66      | %      |   |   | 0.38      | %      |   |   | 0.27      | % |   |   | 0.29 | % |
|                                                                  |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Other ratios:                                                         |   |   |      |   |   |   |      |   |   |   |      |   |   |   |      |   |   |   |   |   |
| Allowance to net loans, end of year                                   |   |   | 1.34      | %      |   |   | 1.34      | %      |   |   | 1.31      | %      |   |   | 1.26      | % |   |   | 1.27 | % |
| Allowance to net legacy loans, end of year                            |   |   | 1.40      | %      |   |   | 1.34      | %      |   |   | 1.31      | %      |   |   | 1.26      | % |   |   | 1.27 | % |
| Provision for loan losses to average loans                            |   |   | 0.67      | %      |   |   | 0.73      | %      |   |   | 0.50      | %      |   |   | 0.30      | % |   |   | 0.20 | % |

----

| (in thousands)                                                |   | 2010   |      |   | 2009   |   |      | 2008   |   |
|---------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|
| Deposits:                                                     |   |   |      |   |   |   |      |   |   |
| Noninterest bearing deposits                                  |   | $      | 514,196   |   |   | $      | 471,902   |   |   | $ | 443,593 |   |
| NOW accounts                                                  |   |   | 20,919    |   |   |   | 19,478    |   |   |   | 19,601 |   |
| Money market accounts                                         |   |   | 422,329   |   |   |   | 430,818   |   |   |   | 436,895 |   |
| Savings accounts                                              |   |   | 225,007   |   |   |   | 216,578   |   |   |   | 199,081 |   |
| Certificates of deposit of $100,000 or more                   |   |   | 576,382   |   |   |   | 480,653   |   |   |   | 443,020 |   |
| Certificates of deposit < $100,000 and other time deposits |   |   | 816,128   |   |   |   | 790,419   |   |   |   | 761,530 |   |
| Total deposits                                                |   |   | 2,574,961 |   |   |   | 2,409,848 |   |   |   | 2,303,720 |   |
|                                                          |   |   |      |   |   |   |      |   |   |   |   |   |
| Other borrowed funds:                                         |   |   |      |   |   |   |      |   |   |   |   |   |
| Repurchase agreements and federal funds purchased             |   |   | 198,880   |   |   |   | 180,044   |   |   |   | 170,231 |   |
| Advances from Federal Home Loan Bank                          |   |   | 20,286    |   |   |   | 47,434    |   |   |   | 49,001 |   |
| Long-term debt                                                |   |   | 61,341    |   |   |   | 61,341    |   |   |   | 61,341 |   |
| Total other borrowed funds                                    |   |   | 280,507   |   |   |   | 288,819   |   |   |   | 280,573 |   |
| Total deposits and other borrowed funds                       |   | $      | 2,855,468 |   |   | $      | 2,698,667 |   |   | $ | 2,584,293 |   |

| (in thousands)                   |   | Certificates of Deposit |    |   | Other Time Deposits |   |   | Total  |   |
|----------------------------------|--------|-------------------------|---------|--------|---------------------|--------|--------|--------|--------|
| Three months or less             |   | $                       | 202,517 |   |                | $      | 13,791 |   |   | $ | 216,308 |   |
| Over three through six months    |   |                    | 102,529 |   |                |   | 8,083  |   |   |   | 110,612 |   |
| Over six through twelve months   |   |                    | 279,114 |   |                |   | 17,196 |   |   |   | 296,310 |   |
| Over twelve through sixty months |   |                    | 25,770  |   |                |   | 4,434  |   |   |   | 30,204 |   |
| Over sixty months                |   |                    | 0       |   |                |   | 195    |   |   |   | 195 |   |
|                             |   | $                       | 609,930 |   |                | $      | 43,699 |   |   | $ | 653,629 |   |

Item 2.  Properties

| Location                          | Owned                                                              | Leased                                                                                                                                                                                                                                         | Total  |
|-----------------------------------|--------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| Banking locations:                |                                                               |                                                                                                                                                                                                                                           |   |
| Community Trust Bank, Inc.        |                                                               |                                                                                                                                                                                                                                           |   |
| *                                 | Pikeville Market (lease land to 3 owned locations)                 | 9                                                                                                                                                                                                                                              | 1      | 10 |
|                              |                                                               | 10 locations in Pike County, Kentucky                                                                                                                                                                                                          |   |   |   |
|                              | Floyd/Knott/Johnson Market (lease land to 1 owned location)        | 3                                                                                                                                                                                                                                              | 1      | 4 |
|                              |                                                               | 2 locations in Floyd County, Kentucky, 1 location in Knott County, Kentucky, and 1 location in Johnson County, Kentucky                                                                                                                        |   |   |   |
|                              | Tug Valley Market (lease land to 1 owned location)                 | 2                                                                                                                                                                                                                                              | 0      | 2 |
|                              |                                                               | 1 location in Pike County, Kentucky, 1 location in Mingo County, West Virginia                                                                                                                                                                 |   |   |   |
|                              | Whitesburg Market                                                  | 4                                                                                                                                                                                                                                              | 1      | 5 |
|                              |                                                               | 5 locations in Letcher County, Kentucky                                                                                                                                                                                                        |   |   |   |
|                              | Hazard Market (lease land to 2 owned locations)                    | 4                                                                                                                                                                                                                                              | 0      | 4 |
|                              |                                                               | 4 locations in Perry County, Kentucky                                                                                                                                                                                                          |   |   |   |
| *                                 | Lexington Market (lease land to 2 owned locations)                 | 3                                                                                                                                                                                                                                              | 2      | 5 |
|                              |                                                               | 5 locations in Fayette County, Kentucky                                                                                                                                                                                                        |   |   |   |
|                              | Winchester Market                                                  | 2                                                                                                                                                                                                                                              | 0      | 2 |
|                              |                                                               | 2 locations in Clark County, Kentucky                                                                                                                                                                                                          |   |   |   |
|                              | Richmond Market (lease land to 1 owned location)                   | 3                                                                                                                                                                                                                                              | 0      | 3 |
|                              |                                                               | 3 locations in Madison County, Kentucky                                                                                                                                                                                                        |   |   |   |
|                              | Mt. Sterling Market                                                | 2                                                                                                                                                                                                                                              | 0      | 2 |
|                              |                                                               | 2 locations in Montgomery County, Kentucky                                                                                                                                                                                                     |   |   |   |
| *                                 | Versailles Market (lease land to 2 owned locations)                | 3                                                                                                                                                                                                                                              | 2      | 5 |
|                              |                                                               | 2 locations in Woodford County, Kentucky, 2 locations in Franklin County, Kentucky, and 1 location in Scott County, Kentucky                                                                                                                   |   |   |   |
|                              | Danville Market (lease land to 1 owned location)                   | 3                                                                                                                                                                                                                                              | 0      | 3 |
|                              |                                                               | 2 locations in Boyle County, Kentucky and 1 location in Mercer County, Kentucky                                                                                                                                                                |   |   |   |
| *                                 | Ashland Market (lease land to 1 owned location)                    | 5                                                                                                                                                                                                                                              | 0      | 5 |
|                              |                                                               | 4 locations in Boyd County, Kentucky and 1 location in Greenup County, Kentucky                                                                                                                                                                |   |   |   |
|                              | Flemingsburg Market                                                | 3                                                                                                                                                                                                                                              | 0      | 3 |
|                              |                                                               | 3 locations in Fleming County, Kentucky                                                                                                                                                                                                        |   |   |   |
|                              | Advantage Valley Market                                            | 3                                                                                                                                                                                                                                              | 1      | 4 |
|                              |                                                               | 2 locations in Lincoln County, West Virginia, 1 location in Wayne County, West Virginia, and 1 location in Cabell County, West Virginia                                                                                                        |   |   |   |
|                              | Summersville Market                                                | 1                                                                                                                                                                                                                                              | 0      | 1 |
|                              |                                                               | 1 location in Nicholas County, West Virginia                                                                                                                                                                                                   |   |   |   |
| *                                 | Middlesboro Market (lease land to 1 owned location)                | 3                                                                                                                                                                                                                                              | 0      | 3 |
|                              |                                                               | 3 locations in Bell County, Kentucky                                                                                                                                                                                                           |   |   |   |
|                              | Williamsburg Market                                                | 5                                                                                                                                                                                                                                              | 0      | 5 |
|                              |                                                               | 2 locations in Whitley County, Kentucky and 3 locations in Laurel County, Kentucky                                                                                                                                                             |   |   |   |
|                              | Campbellsville Market (lease land to 2 owned locations)            | 8                                                                                                                                                                                                                                              | 0      | 8 |
|                              |                                                               | 2 locations in Taylor County, Kentucky, 2 locations in Pulaski County, Kentucky, 1 location in Adair County, Kentucky, 1 location in Green County, Kentucky, 1 location in Russell County, Kentucky, and 1 location in Marion County, Kentucky |   |   |   |
|                              | Mt. Vernon Market                                                  | 2                                                                                                                                                                                                                                              | 0      | 2 |
|                              |                                                               | 2 locations in Rockcastle County, Kentucky                                                                                                                                                                                                     |   |   |   |
| First National Bank of LaFollette | 3                                                                  | 1                                                                                                                                                                                                                                              | 4      |
|                              |                                                               | 3 locations in Campbell County, Tennessee and 1 location in Anderson County, Tennessee                                                                                                                                                         |   |   |   |
| Total banking locations           | 71                                                                 | 9                                                                                                                                                                                                                                              | 80     |
|  Operational locations:      |                                                               |                                                                                                                                                                                                                                           |   |
| Community Trust Bank, Inc.        |                                                               |                                                                                                                                                                                                                                           |   |
|                              | Pikeville (Pike County, Kentucky) (lease land to 1 owned location) | 1                                                                                                                                                                                                                                              | 0      | 1 |
|                              | Lexington (Fayette County, Kentucky)                               | 0                                                                                                                                                                                                                                              | 1      | 1 |
| Total operational locations       | 1                                                                  | 1                                                                                                                                                                                                                                              | 2      |
|                              |                                                               |                                                                                                                                                                                                                                           |   |
| Other:                            |                                                               |                                                                                                                                                                                                                                           |   |
| Community Trust Bank, Inc.        |                                                               |                                                                                                                                                                                                                                           |   |
|                              | Flemingsburg (Fleming County, Kentucky)                            | 1                                                                                                                                                                                                                                              | 0      | 1 |
|                              | Ashland (Boyd County, Kentucky)                                    | 0                                                                                                                                                                                                                                              | 1      | 1 |
| Total other locations             | 1                                                                  | 1                                                                                                                                                                                                                                              | 2      |
|                              |                                                               |                                                                                                                                                                                                                                           |   |   |
| Total locations                   | 73                                                                 | 11                                                                                                                                                                                                                                             | 84     |

Item 3.  Legal Proceedings

PART II

Item 4.  [Removed and Reserved]

Item 5.  Market for the Registrant’s Common Equity, Related Shareholder Matters, and Issuer Purchases of Equity Securities

| (in thousands except per share amounts)       |   |        |   |   |         |   |   |    |   |   |     |   |
|-----------------------------------------------|--------|-------------|--------|--------|--------------|--------|--------|---------|--------|--------|----------|--------|
| Three Months Ended                            |   | December 31 |   |   | September 30 |   |   | June 30 |   |   | March 31 |   |
| 2010                                          |   |        |   |   |         |   |   |    |   |   |     |   |
| Net interest income                           |   | $           | 31,254 |   |         | $      | 29,377 |    |   | $      | 29,278   |   |   | $ | 29,345 |   |
| Net interest income, taxable equivalent basis |   |        | 31,609 |   |         |   | 29,721 |    |   |   | 29,614   |   |   |   | 29,686 |   |
| Provision for loan losses                     |   |        | 3,980  |   |         |   | 3,676  |    |   |   | 3,106    |   |   |   | 5,722 |   |
| Noninterest income                            |   |        | 11,046 |   |         |   | 10,597 |    |   |   | 9,542    |   |   |   | 9,741 |   |
| Noninterest expense                           |   |        | 24,956 |   |         |   | 23,998 |    |   |   | 23,655   |   |   |   | 23,441 |   |
| Net income                                    |   |        | 9,240  |   |         |   | 8,450  |    |   |   | 8,553    |   |   |   | 6,791 |   |
|                                          |   |        |   |   |         |   |   |    |   |   |     |   |   |   |   |   |
| Per common share:                             |   |        |   |   |         |   |   |    |   |   |     |   |   |   |   |   |
| Basic earnings per share                      |   | $           | 0.61   |   |         | $      | 0.55   |    |   | $      | 0.56     |   |   | $ | 0.45 |   |
| Diluted earnings per share                    |   |        | 0.60   |   |         |   | 0.55   |    |   |   | 0.56     |   |   |   | 0.45 |   |
| Dividends declared                            |   |        | 0.305  |   |         |   | 0.305  |    |   |   | 0.30     |   |   |   | 0.30 |   |
|                                          |   |        |   |   |         |   |   |    |   |   |     |   |   |   |   |   |
| Common stock price:                           |   |        |   |   |         |   |   |    |   |   |     |   |   |   |   |   |
| High                                          |   | $           | 29.91  |   |         | $      | 28.00  |    |   | $      | 31.56    |   |   | $ | 28.32 |   |
| Low                                           |   |        | 26.52  |   |         |   | 24.50  |    |   |   | 24.89    |   |   |   | 22.15 |   |
| Last trade                                    |   |        | 28.96  |   |         |   | 27.09  |    |   |   | 25.10    |   |   |   | 27.07 |   |
|                                          |   |        |   |   |         |   |   |    |   |   |     |   |   |   |   |   |
| Selected ratios:                              |   |        |   |   |         |   |   |    |   |   |     |   |   |   |   |   |
| Return on average assets, annualized          |   |        | 1.11   | %      |         |   | 1.04   | %       |   |   | 1.06     | %      |   |   | 0.88 | % |
| Return on average common equity, annualized   |   |        | 10.71  |   |         |   | 9.95   |    |   |   | 10.40    |   |   |   | 8.47 |   |
| Net interest margin, annualized               |   |        | 4.15   |   |         |   | 3.95   |    |   |   | 4.00     |   |   |   | 4.20 |   |

| (in thousands except per share amounts)       |   |        |   |   |         |   |   |    |   |   |     |   |
|-----------------------------------------------|--------|-------------|--------|--------|--------------|--------|--------|---------|--------|--------|----------|--------|
| Three Months Ended                            |   | December 31 |   |   | September 30 |   |   | June 30 |   |   | March 31 |   |
| 2009                                          |   |        |   |   |         |   |   |    |   |   |     |   |
| Net interest income                           |   | $           | 28,582 |   |         | $      | 27,045 |    |   | $      | 25,409   |   |   | $ | 24,474 |   |
| Net interest income, taxable equivalent basis |   |        | 28,912 |   |         |   | 27,386 |    |   |   | 25,741   |   |   |   | 24,765 |   |
| Provision for loan losses                     |   |        | 5,193  |   |         |   | 5,772  |    |   |   | 4,522    |   |   |   | 1,981 |   |
| Noninterest income                            |   |        | 10,486 |   |         |   | 9,226  |    |   |   | 10,955   |   |   |   | 10,753 |   |
| Noninterest expense                           |   |        | 23,847 |   |         |   | 22,579 |    |   |   | 23,578   |   |   |   | 23,797 |   |
| Net income                                    |   |        | 6,958  |   |         |   | 5,584  |    |   |   | 5,937    |   |   |   | 6,580 |   |
|                                          |   |        |   |   |         |   |   |    |   |   |     |   |   |   |   |   |
| Per common share:                             |   |        |   |   |         |   |   |    |   |   |     |   |   |   |   |   |
| Basic earnings per share                      |   | $           | 0.46   |   |         | $      | 0.37   |    |   | $      | 0.39     |   |   | $ | 0.44 |   |
| Diluted earnings per share                    |   |        | 0.46   |   |         |   | 0.37   |    |   |   | 0.39     |   |   |   | 0.43 |   |
| Dividends declared                            |   |        | 0.30   |   |         |   | 0.30   |    |   |   | 0.30     |   |   |   | 0.30 |   |
|                                          |   |        |   |   |         |   |   |    |   |   |     |   |   |   |   |   |
| Common stock price:                           |   |        |   |   |         |   |   |    |   |   |     |   |   |   |   |   |
| High                                          |   | $           | 27.08  |   |         | $      | 28.49  |    |   | $      | 31.29    |   |   | $ | 37.17 |   |
| Low                                           |   |        | 22.41  |   |         |   | 25.15  |    |   |   | 25.62    |   |   |   | 22.55 |   |
| Last trade                                    |   |        | 24.45  |   |         |   | 26.17  |    |   |   | 26.75    |   |   |   | 26.75 |   |
|                                          |   |        |   |   |         |   |   |    |   |   |     |   |   |   |   |   |
| Selected ratios:                              |   |        |   |   |         |   |   |    |   |   |     |   |   |   |   |   |
| Return on average assets, annualized          |   |        | 0.90   | %      |         |   | 0.72   | %       |   |   | 0.78     | %      |   |   | 0.89 | % |
| Return on average common equity, annualized   |   |        | 8.58   |   |         |   | 6.94   |    |   |   | 7.54     |   |   |   | 8.51 |   |
| Net interest margin, annualized               |   |        | 4.06   |   |         |   | 3.81   |    |   |   | 3.62     |   |   |   | 3.61 |   |

----

| Fiscal Year Ending December 31 ($) |   |   |   |   |   |   |
|------------------------------------|--------|--------|--------|--------|--------|--------|
|                               | 2005   | 2006   | 2007   | 2008   | 2009   | 2010   |
| Community Trust Bancorp, Inc.      | 100.00 | 138.47 | 95.46  | 131.49 | 91.77  | 113.24 |
| NASDAQ Stock Market (U.S.)         | 100.00 | 109.84 | 119.14 | 57.41  | 82.53  | 97.95  |
| NASDAQ Bank Stocks                 | 100.00 | 112.23 | 88.95  | 64.86  | 54.35  | 64.28  |

----

Item 6.  Selected Financial Data 2006-2010

| (in thousands except ratios, per share amounts and # of employees)   |   |   |      |   |   |   |      |   |   |   |
|----------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|--------|
| Year Ended December 31                                               |   | 2010   |      |   | 2009   |   |      | 2008   |   |   | 2007 |   |   | 2006 |   |
| Interest income                                                      |   | $      | 154,511   |   |   | $      | 153,050   |   |   | $      | 167,611 |   |   | $ | 196,864 |   |   | $ | 189,305 |   |
| Interest expense                                                     |   |   | 35,257    |   |   |   | 47,540    |   |   |   | 63,974 |   |   |   | 90,832 |   |   |   | 81,538 |   |
| Net interest income                                                  |   |   | 119,254   |   |   |   | 105,510   |   |   |   | 103,637 |   |   |   | 106,032 |   |   |   | 107,767 |   |
| Provision for loan losses                                            |   |   | 16,484    |   |   |   | 17,468    |   |   |   | 11,452 |   |   |   | 6,540 |   |   |   | 4,305 |   |
| Noninterest income                                                   |   |   | 40,926    |   |   |   | 41,420    |   |   |   | 21,767 |   |   |   | 36,608 |   |   |   | 32,559 |   |
| Noninterest expense                                                  |   |   | 96,050    |   |   |   | 93,801    |   |   |   | 82,532 |   |   |   | 83,055 |   |   |   | 80,407 |   |
| Income before income taxes                                           |   |   | 47,646    |   |   |   | 35,661    |   |   |   | 31,420 |   |   |   | 53,045 |   |   |   | 55,614 |   |
| Income taxes                                                         |   |   | 14,612    |   |   |   | 10,602    |   |   |   | 8,347 |   |   |   | 16,418 |   |   |   | 16,550 |   |
| Net income                                                           |   | $      | 33,034    |   |   | $      | 25,059    |   |   | $      | 23,073 |   |   | $ | 36,627 |   |   | $ | 39,064 |   |
|                                                                 |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Per common share:                                                    |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic earnings per share                                             |   | $      | 2.17      |   |   | $      | 1.66      |   |   | $      | 1.54 |   |   | $ | 2.42 |   |   | $ | 2.59 |   |
| Cash dividends declared-                                             |   | $      | 1.21      |   |   | $      | 1.20      |   |   | $      | 1.17 |   |   | $ | 1.10 |   |   | $ | 1.05 |   |
| as a % of net income                                                 |   |   | 55.76     | %      |   |   | 72.29     | %      |   |   | 75.97 | % |   |   | 45.45 | % |   |   | 40.54 | % |
| Book value, end of year                                              |   | $      | 22.16     |   |   | $      | 21.17     |   |   | $      | 20.46 |   |   | $ | 20.03 |   |   | $ | 18.63 |   |
| Market price, end of year                                            |   | $      | 28.96     |   |   | $      | 24.45     |   |   | $      | 36.75 |   |   | $ | 27.53 |   |   | $ | 41.53 |   |
| Market to book value, end of year                                    |   |   | 1.31      | x      |   |   | 1.15      | x      |   |   | 1.80 | x |   |   | 1.37 | x |   |   | 2.23 | x |
| Price/earnings ratio, end of year                                    |   |   | 13.35     | x      |   |   | 14.73     | x      |   |   | 23.86 | x |   |   | 11.38 | x |   |   | 16.03 | x |
| Cash dividend yield, end of year                                     |   |   | 4.18      | %      |   |   | 4.91      | %      |   |   | 3.18 | % |   |   | 4.00 | % |   |   | 2.53 | % |
|                                                                 |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| At year-end:                                                         |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total assets                                                         |   | $      | 3,355,872 |   |   | $      | 3,086,659 |   |   | $      | 2,954,531 |   |   | $ | 2,902,684 |   |   | $ | 2,969,761 |   |
| Long-term debt                                                       |   |   | 61,341    |   |   |   | 61,341    |   |   |   | 61,341 |   |   |   | 61,341 |   |   |   | 61,341 |   |
| Shareholders’ equity                                           |   |   | 338,638   |   |   |   | 321,457   |   |   |   | 308,206 |   |   |   | 301,355 |   |   |   | 282,375 |   |
|                                                                 |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Averages:                                                            |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Assets                                                               |   | $      | 3,220,087 |   |   | $      | 3,047,100 |   |   | $      | 2,921,217 |   |   | $ | 2,980,713 |   |   | $ | 2,942,892 |   |
| Deposits                                                             |   |   | 2,574,961 |   |   |   | 2,409,848 |   |   |   | 2,303,720 |   |   |   | 2,352,902 |   |   |   | 2,294,385 |   |
| Earning assets                                                       |   |   | 2,961,971 |   |   |   | 2,830,701 |   |   |   | 2,703,054 |   |   |   | 2,760,014 |   |   |   | 2,717,325 |   |
| Loans                                                                |   |   | 2,461,225 |   |   |   | 2,383,875 |   |   |   | 2,283,180 |   |   |   | 2,205,431 |   |   |   | 2,131,649 |   |
| Shareholders’ equity                                           |   |   | 333,645   |   |   |   | 317,711   |   |   |   | 308,401 |   |   |   | 294,106 |   |   |   | 269,202 |   |
|                                                                 |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Profitability ratios:                                                |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Return on average assets                                             |   |   | 1.03      | %      |   |   | 0.82      | %      |   |   | 0.79 | % |   |   | 1.23 | % |   |   | 1.33 | % |
| Return on average equity                                             |   |   | 9.90      |   |   |   | 7.89      |   |   |   | 7.48 |   |   |   | 12.45 |   |   |   | 14.51 |   |
|                                                                 |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Capital ratios:                                                      |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity to assets, end of year                                        |   |   | 10.09     | %      |   |   | 10.41     | %      |   |   | 10.43 | % |   |   | 10.38 | % |   |   | 9.51 | % |
| Average equity to average assets                                     |   |   | 10.36     |   |   |   | 10.43     |   |   |   | 10.56 |   |   |   | 9.87 |   |   |   | 9.15 |   |
|                                                                 |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Risk based capital ratios:                                           |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tier 1 capital                                                       |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to average assets)                                                  |   |   | 10.15     | %      |   |   | 10.38     | %      |   |   | 10.37 | % |   |   | 10.32 | % |   |   | 9.58 | % |
| Tier 1 capital                                                       |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to risk weighted assets)                                            |   |   | 12.90     |   |   |   | 12.90     |   |   |   | 13.05 |   |   |   | 13.24 |   |   |   | 12.21 |   |
| Total capital                                                        |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to risk weighted assets)                                            |   |   | 14.10     |   |   |   | 14.15     |   |   |   | 14.30 |   |   |   | 14.49 |   |   |   | 13.43 |   |
|                                                                 |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other significant ratios:                                            |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Allowance to net loans, end of year                                  |   |   | 1.34      | %      |   |   | 1.34      | %      |   |   | 1.31 | % |   |   | 1.26 | % |   |   | 1.27 | % |
| Allowance to net legacy loans, end of year                           |   |   | 1.40      |   |   |   | 1.34      |   |   |   | 1.31 |   |   |   | 1.26 |   |   |   | 1.27 |   |
| Allowance to nonperforming loans, end of year                        |   |   | 56.10     |   |   |   | 79.01     |   |   |   | 59.06 |   |   |   | 88.06 |   |   |   | 194.43 |   |
| Nonperforming assets to loans and foreclosed properties, end of year |   |   | 3.97      |   |   |   | 3.19      |   |   |   | 2.66 |   |   |   | 1.79 |   |   |   | 0.86 |   |
| Net interest margin                                                  |   |   | 4.07      |   |   |   | 3.77      |   |   |   | 3.88 |   |   |   | 3.90 |   |   |   | 4.02 |   |
|                                                                 |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other statistics:                                                    |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Average common shares outstanding                                    |   |   | 15,234    |   |   |   | 15,129    |   |   |   | 15,017 |   |   |   | 15,150 |   |   |   | 15,086 |   |
| Number of full-time equivalent employees, end of year                |   |   | 1,041     |   |   |   | 982       |   |   |   | 986 |   |   |   | 1,011 |   |   |   | 1,021 |   |

Item 7.  Management’s Discussion and Analysis of Financial Condition and Results of Operations

| v   | Our Business |
|---------------|--------------|

| v   | Critical Accounting Policies and Estimates |
|---------------|--------------------------------------------|

| v   | Results of Operations |
|---------------|-----------------------|

| v   | Liquidity and Market Risk |
|---------------|---------------------------|

| v   | Stock Repurchase Program |
|---------------|--------------------------|

| v   | Interest Rate Risk |
|---------------|--------------------|

| v   | Capital Resources |
|---------------|-------------------|

| v   | Impact of Inflation, Changing Prices, and Economic Conditions |
|---------------|---------------------------------------------------------------|

| v   | Contractual Obligations and Commitments |
|---------------|-----------------------------------------|

| (in thousands)               |   | Goodwill |   |   | Core Deposit Intangible |   |
|------------------------------|--------|----------|--------|--------|-------------------------|--------|
| Beginning balance, January 1 |   | $        | 65,059 |   |                    | $      | 648 |   |
| Amortization                 |   |     | 0      |   |                    |   | (430 | ) |
| Acquired through acquisition |   |     | 440    |   |                    |   | 1,124 |   |
| Ending balance, December 31  |   | $        | 65,499 |   |                    | $      | 1,342 |   |

| ·   | The amounts of and reasons for significant transfers in and out of Level 1, Level 2 and Level 3 fair value measurements and the accounting policy for the date used to recognize such transfers, e.g., actual transaction date, beginning of reporting period date or end of reporting period date |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Presentation of purchases, sales, issuances and settlements as separate lines, rather than one net number, in the table reconciling activity for assets and liabilities measured at fair value on a recurring basis using Level 3 inputs |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Provision of fair value measurement disclosures for each class of assets and liabilities with a class often being a subset of assets or liabilities within a balance sheet line item.  Class should be determined on the basis of the nature and risks of investments in debt and equity securities and generally will not require change from the classifications already employed in disclosures for those investments |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Provision of explanations about the valuation techniques and inputs used to determine fair value for both recurring and nonrecurring fair value measurements falling in either Level 2 or Level 3 |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Revision of the existing disclosures made by a plan sponsor about fair value for assets of defined benefit pension and other postretirement benefit plans to require those disclosures be made by asset class instead of asset category |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | CTBI's earnings per share for the year 2010 increased $0.51 per share from prior year.  Earnings for the year 2010 were positively impacted by increased net interest income and decreased provision for loan loss, partially offset by decreased noninterest income and increased noninterest expense.  The acquisition of LaFollette Corporation increased earnings by $0.02 per basic share. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | CTBI experienced significant improvement in our net interest margin year over year increasing from 3.77% for the year ended December 31, 2009 to 4.07% for the year ended December 31, 2010 as deposit expense decreased significantly. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | As problem loans continued to work through the collection process, nonperforming loans increased from the $41.3 million at December 31, 2009 to $62.0 million at December 31, 2010.  December 31, 2010 information includes $2.2 million in nonperforming loans for First National Bank of LaFollette.  Nonperforming assets increased $26.1 million from prior year. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | The loan loss provision for the year ended December 31, 2010 decreased $1.0 million from prior year. |
|---------------|------------------------------------------------------------------------------------------------------|

| v   | Net loan charge-offs for the year 2010 decreased from $15.6 million for the year 2009 to $14.3 million for the year 2010. |
|---------------|---------------------------------------------------------------------------------------------------------------------------|

| v   | Our loan loss reserve as a percentage of total loans outstanding was 1.34% at December 31, 2010 and 2009.  Generally accepted accounting principles require that expected credit losses associated with loans obtained in an acquisition be reflected in the estimation of loan fair value as of the acquisition date and prohibits any carryover of an allowance for credit losses.  Excluding amounts related to loans obtained in the fourth quarter 2010 acquisition of LaFollette, the allowance-to-legacy loan ratio was 1.40% and 1.34%, respectively, at December 31, 2010 and 2009. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | Noninterest income for the year 2010 decreased $0.5 million from prior year due to declines in gains on sales of loans and the fair value of our mortgage servicing rights, partially offset by increases in trust and brokerage revenue and deposit service charges. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | Our loan portfolio increased $169.4 million year over year, including a $119.1 million increase resulting from the acquisition of LaFollette. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------|

| v   | Our investment portfolio increased $55.8 million from prior year, including the $29.2 million increase from the LaFollette acquisition. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------|

| v   | Our tangible common equity/tangible assets ratio remains strong at 8.27%.  The acquisition of LaFollette was an all cash transaction and decreased our tangible common equity/tangible assets ratio by 56 basis points. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | Return on average assets for the year 2010 was 1.03% compared to 0.82% for the year 2009.  Return on average equity was 9.90% compared to 7.89%. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (in thousands)December 31           |   | 2010   |   |   | 2009   |   |
|-------------------------------------|--------|--------|--------|--------|--------|--------|
| 1-4 family                          |   | $      | 18,792 |   |   | $      | 18,388 |   |
| Agricultural/farmland               |   |   | 58     |   |   |   | 128 |   |
| Construction/land development/other |   |   | 10,207 |   |   |   | 7,414 |   |
| Multifamily                         |   |   | 4,594  |   |   |   | 4,117 |   |
| Non-farm/non-residential            |   |   | 9,284  |   |   |   | 7,286 |   |
| Total other real estate owned       |   | $      | 42,935 |   |   | $      | 37,333 |   |

| v   | Year over year basic earnings per share increased $0.12 per share.  2009 earnings were impacted by increased provision for loan losses ($0.26 per share impact after-tax), increased FDIC insurance premiums and special FDIC assessment ($0.23 per share impact after-tax), and increased noninterest income compared to 2008 which was impacted by the other than temporary impairment (OTTI) charges on investment securities of $14.6 million ($0.62 per share impact after-tax). |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | The significant increase in provision for loan losses was driven by increased charge-offs in 1-4 family commercial real estate loans with specific reserves and to a lesser extent consumer loans, and it supported loan growth of $87.1 million for the year. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | Net loan charge-offs for the year 2009 increased $7.0 million from prior year. |
|---------------|--------------------------------------------------------------------------------|

| v   | Noninterest income was impacted by increased gains on sales of loans and loan related fees due to the refinancing of mortgage loans and an increase in the fair value of mortgage servicing rights. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | Noninterest expense increased year over year as a result of increases in legal fees, net expenses related to other real estate owned, and repossession expense as CTBI worked through its problem real estate loans resulting from the decline in the housing market and consumers and small businesses were being impacted by current economic conditions.  CTBI also experienced increased FDIC insurance premiums including the special FDIC assessment and increased personnel expense. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | Our net interest margin for the year was 11 basis points below prior year. |
|---------------|----------------------------------------------------------------------------|

| v   | Our loan portfolio grew $87.1 million or 3.7% with growth in the commercial and consumer loan portfolios offset by a decline in the residential loan portfolio. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | Nonperforming loans decreased to $41.3 million compared to $52.2 million at December 31, 2008.  The year over year decrease in nonperforming loans was in both the 90 day and accruing and the nonaccrual classifications.  Nonperforming assets increased $16.1 million from prior year-end, December 31, 2008, as a result of increased other real estate owned. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v   | Our investment portfolio declined $8.4 million year over year. |
|---------------|----------------------------------------------------------------|

| v   | Our tangible common equity/tangible assets ratio remained strong at 8.47%. |
|---------------|----------------------------------------------------------------------------|

| v   | Return on average assets for the year was 0.82% compared to 0.79% for the year 2008.  Return on average equity was 7.89% compared to 7.48%. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (in thousands)December 31           |   | 2009   |   |   | 2008   |   |
|-------------------------------------|--------|--------|--------|--------|--------|--------|
| 1-4 family                          |   | $      | 18,388 |   |   | $      | 8,003 |   |
| Agricultural/farmland               |   |   | 128    |   |   |   | 111 |   |
| Construction/land development/other |   |   | 7,414  |   |   |   | 1,084 |   |
| Multifamily                         |   |   | 4,117  |   |   |   | 0 |   |
| Non-farm/non-residential            |   |   | 7,286  |   |   |   | 1,227 |   |
| Total other real estate owned       |   | $      | 37,333 |   |   | $      | 10,425 |   |

|   | Board Authorizations | Repurchases* |  Shares Available for Repurchase |
|--------|----------------------|--------------|---------------------------------------|
|   | Average Price ($)    | # of Shares  |
| 1998   | 500,000              | -            | 0                                     |   |
| 1999   | 0                    | 15.89        | 131,517                               |   |
| 2000   | 1,000,000            | 11.27        | 694,064                               |   |
| 2001   | 0                    | 14.69        | 444,945                               |   |
| 2002   | 0                    | 19.48        | 360,287                               |   |
| 2003   | 1,000,000            | 21.58        | 235,668                               |   |
| 2004   | 0                    | 25.45        | 55,000                                |   |
| 2005   | 0                    | -            | 0                                     |   |
| 2006   | 0                    | -            | 0                                     |   |
| 2007   | 0                    | 31.42        | 196,500                               |   |
| 2008   | 0                    | 28.08        | 93,500                                |   |
| 2009   | 0                    | -            | 0                                     |   |
| 2010   | 0                    | -            | 0                                     |   |
| Total  | 2,500,000            | 17.52        | 2,211,481                             | 288,519 |

| Change in Interest Rates(basis points) | Percentage Change in Net Interest Income(12 Months) |
|----------------------------------------|-----------------------------------------------------|
| +400                                   | 2.48%                                               |
| +300                                   | 1.45%                                               |
| +200                                   | 0.58%                                               |
| +100                                   | 0.22%                                               |
| -25                                    | (0.09)%                                             |

| Change in Interest Rates(basis points) | Percentage Change in Net Interest Income(12 Months) |
|----------------------------------------|-----------------------------------------------------|
| +400                                   | 3.50%                                               |
| +300                                   | 2.37%                                               |
| +200                                   | 1.29%                                               |
| +100                                   | 0.53%                                               |
| -25                                    | (0.15)%                                             |

|                           |   | 1-3 Months |      |   | 4-6 Months |   |    | 7-9 Months |   |   | 10-12 Months |   |   | 2-3 Years |     |   | 4-5 Years |   |     | > 5 Years |   |
|--------------------------------|--------|------------|-----------|--------|------------|--------|---------|------------|--------|--------|--------------|--------|--------|-----------|----------|--------|-----------|--------|----------|--------------|--------|
|                           |   |       |      |   |       |   |    |       |   |   |         |   |   |      |     |   |      |   |     |         |   |
| Assets                         |   | $          | 1,495,743 |   |       | $      | 224,431 |       |   | $      | 169,203      |   |   | $         | 172,452  |   |      | $      | 548,335  |         |   | $ | 174,799 |   |   | $ | 570,909 |   |
|                           |   |       |      |   |       |   |    |       |   |   |         |   |   |      |     |   |      |   |     |         |   |   |   |   |   |   |   |   |
| Liabilities and Equity         |   |       | 923,981   |   |       |   | 304,889 |       |   |   | 329,270      |   |   |      | 600,422  |   |      |   | 697,893  |         |   |   | 14,228 |   |   |   | 485,189 |   |
|                           |   |       |      |   |       |   |    |       |   |   |         |   |   |      |     |   |      |   |     |         |   |   |   |   |   |   |   |   |
| Repricing difference           |   |       | 571,762   |   |       |   | (80,458 | )          |   |   | (160,067     | )      |   |      | (427,970 | )      |      |   | (149,558 | )            |   |   | 160,570 |   |   |   | 85,720 |   |
|                           |   |       |      |   |       |   |    |       |   |   |         |   |   |      |     |   |      |   |     |         |   |   |   |   |   |   |   |   |
| Cumulative GAP                 |   |       | 571,672   |   |       |   | 491,304 |       |   |   | 331,238      |   |   |      | (96,732  | )      |      |   | (246,290 | )            |   |   | (85,720 | ) |   |   | 0 |   |
|                           |   |       |      |   |       |   |    |       |   |   |         |   |   |      |     |   |      |   |     |         |   |   |   |   |   |   |   |   |
| RSA/RSL                        |   |       | 1.62      | x      |       |   | 0.74    | x          |   |   | 0.51         | x      |   |      | 0.29     | x      |      |   | 0.79     | x            |   |   | 12.29 | x |   |   | 1.18 | x |
|                           |   |       |      |   |       |   |    |       |   |   |         |   |   |      |     |   |      |   |     |         |   |   |   |   |   |   |   |   |
| Cumulative GAP to total assets |   |       | 17.04     | %      |       |   | 14.64   | %          |   |   | 9.87         | %      |   |      | (2.88    | )%     |      |   | (7.34    | )%           |   |   | (2.55 | )% |   |   | 0.00 | % |

| Contractual Obligations:                              |   | Payments Due by Period |      |   |
|-------------------------------------------------------|--------|------------------------|-----------|--------|
| (in thousands)                                        |   | Total                  |      |   | 1 Year |   |   | 2-5 Years |   |   | After 5 Years |   |   |
| Deposits without stated maturity                      |   | $                      | 1,238,874 |   |   | $ | 1,238,874 |   |   | $ | 0 |   |   | $ | 0 |   |
| Certificates of deposit and other time deposits       |   |                   | 1,467,243 |   |   |   | 1,362,259 |   |   |   | 91,828 |   |   |   | 13,156 |   |
| Repurchase agreements and other short-term borrowings |   |                   | 197,955   |   |   |   | 197,955 |   |   |   | 0 |   |   |   | 0 |   |
| Advances from Federal Home Loan Bank                  |   |                   | 21,238    |   |   |   | 20,199 |   |   |   | 470 |   |   |   | 569 |   |
| Interest on advances from Federal Home Loan Bank*     |   |                   | 215       |   |   |   | 83 |   |   |   | 111 |   |   |   | 21 |   |
| Long-term debt                                        |   |                   | 61,341    |   |   |   | 0 |   |   |   | 0 |   |   |   | 61,341 |   |
| Interest on long-term debt*                           |   |                   | 105,985   |   |   |   | 3,999 |   |   |   | 15,998 |   |   |   | 85,988 |   |
| Annual rental commitments under leases                |   |                   | 8,448     |   |   |   | 1,653 |   |   |   | 3,772 |   |   |   | 3,023 |   |
| Total                                                 |   | $                      | 3,101,299 |   |   | $ | 2,825,022 |   |   | $ | 112,179 |   |   | $ | 164,098 |   |

| Other Commitments:           |   | Amount of Commitment - Expiration by Period |    |
|------------------------------|--------|---------------------------------------------|---------|
| (in thousands)               |   | Total                                       |    |   | 1 Year |   |   | 2-5 Years |   |   | After 5 Years |   |
| Standby letters of credit    |   | $                                           | 54,690  |   |   | $ | 43,129 |   |   | $ | 11,561 |   |   | $ | 0 |   |
| Commitments to extend credit |   |                                        | 376,858 |   |   |   | 300,185 |   |   |   | 69,830 |   |   |   | 6,843 |   |
| Total                        |   | $                                           | 431,548 |   |   | $ | 343,314 |   |   | $ | 81,391 |   |   | $ | 6,843 |   |

Item 7A.  Quantitative and Qualitative Disclosures about Market Risk

----

Item 8. Financial Statements and Supplementary Data

| (dollars in thousands)December 31                                      |   | 2010   |      |   | 2009   |   |
|------------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|
| Assets:                                                                |   |   |      |   |   |   |
| Cash and due from banks                                                |   | $      | 62,559    |   |   | $      | 62,720 |   |
| Interest bearing deposits                                              |   |   | 70,086    |   |   |   | 31,814 |   |
| Federal funds sold                                                     |   |   | 26,338    |   |   |   | 47,595 |   |
| Cash and cash equivalents                                              |   |   | 158,983   |   |   |   | 142,129 |   |
|                                                                   |   |   |      |   |   |   |   |   |
| Certificates of deposit in other banks                                 |   |   | 14,762    |   |   |   | 100 |   |
| Securities available-for-sale at fair value                            |   |   |      |   |   |   |   |   |
| (amortized cost of $332,658 and $263,756, respectively)                |   |   | 338,675   |   |   |   | 270,237 |   |
| Securities held-to-maturity at amortized cost                          |   |   |      |   |   |   |   |   |
| (fair value of $1,662 and $14,435, respectively)                       |   |   | 1,662     |   |   |   | 14,336 |   |
| Loans held for sale                                                    |   |   | 455       |   |   |   | 1,818 |   |
|                                                                   |   |   |      |   |   |   |   |   |
| Loans                                                                  |   |   | 2,605,180 |   |   |   | 2,435,760 |   |
| Allowance for loan losses                                              |   |   | (34,805   | )      |   |   | (32,643 | ) |
| Net loans                                                              |   |   | 2,570,375 |   |   |   | 2,403,117 |   |
|                                                                   |   |   |      |   |   |   |   |   |
| Premises and equipment, net                                            |   |   | 55,343    |   |   |   | 49,242 |   |
| Federal Home Loan Bank stock                                           |   |   | 25,673    |   |   |   | 24,700 |   |
| Federal Reserve Bank stock                                             |   |   | 4,434     |   |   |   | 4,348 |   |
| Goodwill                                                               |   |   | 65,499    |   |   |   | 65,059 |   |
| Core deposit intangible (net of accumulated amortization of $7,260 and |   |   |      |   |   |   |   |   |
| $6,857, respectively)                                                  |   |   | 1,342     |   |   |   | 648 |   |
| Bank owned life insurance                                              |   |   | 39,697    |   |   |   | 38,117 |   |
| Mortgage servicing rights                                              |   |   | 3,161     |   |   |   | 3,406 |   |
| Other real estate owned                                                |   |   | 42,935    |   |   |   | 37,333 |   |
| Other assets                                                           |   |   | 32,876    |   |   |   | 32,069 |   |
| Total assets                                                           |   | $      | 3,355,872 |   |   | $      | 3,086,659 |   |
|                                                                   |   |   |      |   |   |   |   |   |
| Liabilities and shareholders’ equity:                            |   |   |      |   |   |   |   |   |
| Deposits                                                               |   |   |      |   |   |   |   |   |
| Noninterest bearing                                                    |   | $      | 525,478   |   |   | $      | 490,809 |   |
| Interest bearing                                                       |   |   | 2,180,639 |   |   |   | 1,971,400 |   |
| Total deposits                                                         |   |   | 2,706,117 |   |   |   | 2,462,209 |   |
|                                                                   |   |   |      |   |   |   |   |   |
| Repurchase agreements                                                  |   |   | 188,275   |   |   |   | 180,471 |   |
| Federal funds purchased                                                |   |   | 9,680     |   |   |   | 12,205 |   |
| Advances from Federal Home Loan Bank                                   |   |   | 21,238    |   |   |   | 20,671 |   |
| Long-term debt                                                         |   |   | 61,341    |   |   |   | 61,341 |   |
| Other liabilities                                                      |   |   | 30,583    |   |   |   | 28,305 |   |
| Total liabilities                                                      |   |   | 3,017,234 |   |   |   | 2,765,202 |   |
|                                                                   |   |   |      |   |   |   |   |   |
| Shareholders’ equity:                                            |   |   |      |   |   |   |   |   |
| Preferred stock, 300,000 shares authorized and unissued                |   |   | -         |   |   |   | - |   |
| Common stock, $5 par value, shares authorized 25,000,000;              |   |   |      |   |   |   |   |   |
| shares outstanding 2010 – 15,281,576; 2009 – 15,183,987    |   |   | 76,408    |   |   |   | 75,920 |   |
| Capital surplus                                                        |   |   | 154,880   |   |   |   | 152,484 |   |
| Retained earnings                                                      |   |   | 103,439   |   |   |   | 88,840 |   |
| Accumulated other comprehensive income, net of tax                     |   |   | 3,911     |   |   |   | 4,213 |   |
| Total shareholders’ equity                                       |   |   | 338,638   |   |   |   | 321,457 |   |
|                                                                   |   |   |      |   |   |   |   |   |
| Total liabilities and shareholders’ equity                       |   | $      | 3,355,872 |   |   | $      | 3,086,659 |   |

----

| (in thousands except per share data)Year Ended December 31        |   | 2010   |    |   | 2009   |   |    | 2008   |   |
|-------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
| Interest income:                                                  |   |   |    |   |   |   |    |   |   |
| Interest and fees on loans, including loans held for sale         |   | $      | 142,109 |   |   | $      | 139,736 |   |   | $ | 150,221 |   |
| Interest and dividends on securities                              |   |   |    |   |   |   |    |   |   |   |   |   |
| Taxable                                                           |   |   | 8,934   |   |   |   | 9,569   |   |   |   | 12,635 |   |
| Tax exempt                                                        |   |   | 1,601   |   |   |   | 1,845   |   |   |   | 1,869 |   |
| Interest and dividends on Federal Reserve Bank and Federal Home   |   |   |    |   |   |   |    |   |   |   |   |   |
| Loan Bank stock                                                   |   |   | 1,351   |   |   |   | 1,402   |   |   |   | 1,559 |   |
| Interest on fed funds sold                                        |   |   | 234     |   |   |   | 193     |   |   |   | 1,083 |   |
| Other interest income                                             |   |   | 282     |   |   |   | 305     |   |   |   | 244 |   |
| Total interest income                                             |   |   | 154,511 |   |   |   | 153,050 |   |   |   | 167,611 |   |
|                                                              |   |   |    |   |   |   |    |   |   |   |   |   |
| Interest expense:                                                 |   |   |    |   |   |   |    |   |   |   |   |   |
| Interest on deposits                                              |   |   | 29,152  |   |   |   | 39,793  |   |   |   | 53,849 |   |
| Interest on repurchase agreements and other short-term borrowings |   |   | 2,027   |   |   |   | 2,457   |   |   |   | 4,424 |   |
| Interest on advances from Federal Home Loan Bank                  |   |   | 79      |   |   |   | 1,291   |   |   |   | 1,701 |   |
| Interest on long-term debt                                        |   |   | 3,999   |   |   |   | 3,999   |   |   |   | 4,000 |   |
| Total interest expense                                            |   |   | 35,257  |   |   |   | 47,540  |   |   |   | 63,974 |   |
|                                                              |   |   |    |   |   |   |    |   |   |   |   |   |
| Net interest income                                               |   |   | 119,254 |   |   |   | 105,510 |   |   |   | 103,637 |   |
| Provision for loan losses                                         |   |   | 16,484  |   |   |   | 17,468  |   |   |   | 11,452 |   |
| Net interest income after provision for loan losses               |   |   | 102,770 |   |   |   | 88,042  |   |   |   | 92,185 |   |
|                                                              |   |   |    |   |   |   |    |   |   |   |   |   |
| Noninterest income:                                               |   |   |    |   |   |   |    |   |   |   |   |   |
| Service charges on deposit accounts                               |   |   | 23,255  |   |   |   | 21,970  |   |   |   | 21,886 |   |
| Gains on sales of loans, net                                      |   |   | 1,642   |   |   |   | 4,324   |   |   |   | 1,583 |   |
| Trust income                                                      |   |   | 5,846   |   |   |   | 5,047   |   |   |   | 4,929 |   |
| Loan related fees                                                 |   |   | 3,247   |   |   |   | 3,817   |   |   |   | 2,045 |   |
| Bank owned life insurance                                         |   |   | 1,676   |   |   |   | 1,241   |   |   |   | 1,008 |   |
| Securities gains and losses                                       |   |   | 0       |   |   |   | 654     |   |   |   | (50 | ) |
| Other than temporary impairment                                   |   |   | 0       |   |   |   | 0       |   |   |   | (14,514 | ) |
| Other noninterest income                                          |   |   | 5,260   |   |   |   | 4,367   |   |   |   | 4,880 |   |
| Total noninterest income                                          |   |   | 40,926  |   |   |   | 41,420  |   |   |   | 21,767 |   |
|                                                              |   |   |    |   |   |   |    |   |   |   |   |   |
| Noninterest expense:                                              |   |   |    |   |   |   |    |   |   |   |   |   |
| Officer salaries and employee benefits                            |   |   | 8,244   |   |   |   | 8,169   |   |   |   | 7,763 |   |
| Other salaries and employee benefits                              |   |   | 39,020  |   |   |   | 35,392  |   |   |   | 34,460 |   |
| Occupancy, net                                                    |   |   | 7,058   |   |   |   | 6,836   |   |   |   | 6,787 |   |
| Equipment                                                         |   |   | 3,865   |   |   |   | 4,679   |   |   |   | 4,356 |   |
| Data processing                                                   |   |   | 6,889   |   |   |   | 6,064   |   |   |   | 5,634 |   |
| Bank franchise tax                                                |   |   | 4,065   |   |   |   | 3,684   |   |   |   | 3,596 |   |
| Legal fees                                                        |   |   | 2,727   |   |   |   | 2,395   |   |   |   | 1,772 |   |
| Professional fees                                                 |   |   | 1,199   |   |   |   | 1,350   |   |   |   | 1,294 |   |
| FDIC insurance                                                    |   |   | 4,410   |   |   |   | 5,795   |   |   |   | 328 |   |
| Other real estate owned provision and expense                     |   |   | 2,626   |   |   |   | 3,281   |   |   |   | 722 |   |
| Other noninterest expense                                         |   |   | 15,947  |   |   |   | 16,156  |   |   |   | 15,820 |   |
| Total noninterest expense                                         |   |   | 96,050  |   |   |   | 93,801  |   |   |   | 82,532 |   |
|                                                              |   |   |    |   |   |   |    |   |   |   |   |   |
| Income before income taxes                                        |   |   | 47,646  |   |   |   | 35,661  |   |   |   | 31,420 |   |
| Income taxes                                                      |   |   | 14,612  |   |   |   | 10,602  |   |   |   | 8,347 |   |
| Net income                                                        |   | $      | 33,034  |   |   | $      | 25,059  |   |   | $ | 23,073 |   |
|                                                              |   |   |    |   |   |   |    |   |   |   |   |   |
| Basic earnings per share                                          |   | $      | 2.17    |   |   | $      | 1.66    |   |   | $ | 1.54 |   |
| Diluted earnings per share                                        |   |   | 2.16    |   |   |   | 1.65    |   |   |   | 1.52 |   |

----

| (in thousands except per share and share amounts)                                           |   | Common Shares |       |   | Common Stock |   |   | Capital Surplus |   |   | Retained Earnings |   |   | Accumulated Other Comprehensive Income (Loss), Net of Tax |    |   | Total  |   |
|---------------------------------------------------------------------------------------------|--------|---------------|------------|--------|--------------|--------|--------|-----------------|--------|--------|-------------------|--------|--------|-----------------------------------------------------------|---------|--------|--------|--------|
| Balance, January 1, 2008                                                                    |   |          | 15,044,124 |   |         | $      | 75,221 |            |   | $      | 149,005           |   |   | $                                                         | 78,251  |   |   | $      | (1,122 | ) |   | $ | 301,355 |   |
| Net income                                                                                  |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      | 23,073  |   |   |   |   |   |   |   | 23,073 |   |
| Net change in unrealized gain/loss on securities available-for-sale, net of tax of ($1,086) |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      |    |   |   |   | 2,017 |   |   |   | 2,017 |   |
| Comprehensive income                                                                        |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      |    |   |   |   |   |   |   |   | 25,090 |   |
| Cumulative effect – application of new accounting standards (EITF 06-4)               |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      | (1,820  | )      |   |   |   |   |   |   | (1,820 | ) |
| Cash dividends declared ($1.17 per share)                                                   |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      | (17,561 | )      |   |   |   |   |   |   | (17,561 | ) |
| Issuance of common stock                                                                    |   |          | 115,624    |   |         |   | 578    |            |   |   | 2,153             |   |   |                                                      |    |   |   |   |   |   |   |   | 2,731 |   |
| Purchase of common stock                                                                    |   |          | (93,500    | )      |         |   | (468   | )               |   |   | (2,163            | )      |   |                                                      |    |   |   |   |   |   |   |   | (2,631 | ) |
| Stock-based compensation and related excess tax benefits                                    |   |          |       |   |         |   |   |            |   |   | 1,042             |   |   |                                                      |    |   |   |   |   |   |   |   | 1,042 |   |
| Balance, December 31, 2008                                                                  |   |          | 15,066,248 |   |         |   | 75,331 |            |   |   | 150,037           |   |   |                                                      | 81,943  |   |   |   | 895 |   |   |   | 308,206 |   |
| Net income                                                                                  |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      | 25,059  |   |   |   |   |   |   |   | 25,059 |   |
| Net change in unrealized gain/loss on securities available-for-sale, net of tax of ($1,786) |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      |    |   |   |   | 3,318 |   |   |   | 3,318 |   |
| Comprehensive income                                                                        |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      |    |   |   |   |   |   |   |   | 28,377 |   |
| Cash dividends declared ($1.20 per share)                                                   |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      | (18,162 | )      |   |   |   |   |   |   | (18,162 | ) |
| Issuance of common stock                                                                    |   |          | 117,739    |   |         |   | 589    |            |   |   | 1,703             |   |   |                                                      |    |   |   |   |   |   |   |   | 2,292 |   |
| Stock-based compensation and related excess tax benefits                                    |   |          |       |   |         |   |   |            |   |   | 947               |   |   |                                                      |    |   |   |   |   |   |   |   | 947 |   |
| Other adjustments                                                                           |   |          |       |   |         |   |   |            |   |   | (203              | )      |   |                                                      |    |   |   |   |   |   |   |   | (203 | ) |
| Balance, December 31, 2009                                                                  |   |          | 15,183,987 |   |         |   | 75,920 |            |   |   | 152,484           |   |   |                                                      | 88,840  |   |   |   | 4,213 |   |   |   | 321,457 |   |
| Net income                                                                                  |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      | 33,034  |   |   |   |   |   |   |   | 33,034 |   |
| Net change in unrealized gain/loss on securities available-for-sale, net of tax of $162     |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      |    |   |   |   | (302 | ) |   |   | (302 | ) |
| Comprehensive income                                                                        |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      |    |   |   |   |   |   |   |   | 32,732 |   |
| Cash dividends declared ($1.21 per share)                                                   |   |          |       |   |         |   |   |            |   |   |              |   |   |                                                      | (18,435 | )      |   |   |   |   |   |   | (18,435 | ) |
| Issuance of common stock                                                                    |   |          | 97,589     |   |         |   | 488    |            |   |   | 1,504             |   |   |                                                      |    |   |   |   |   |   |   |   | 1,992 |   |
| Stock-based compensation and related excess tax benefits                                    |   |          |       |   |         |   |   |            |   |   | 1,009             |   |   |                                                      |    |   |   |   |   |   |   |   | 1,009 |   |
| Vesting of restricted stock                                                                 |   |          |       |   |         |   |   |            |   |   | (117              | )      |   |                                                      |    |   |   |   |   |   |   |   | (117 | ) |
| Balance, December 31, 2010                                                                  |   |          | 15,281,576 |   |         | $      | 76,408 |            |   | $      | 154,880           |   |   | $                                                         | 103,439 |   |   | $      | 3,911 |   |   | $ | 338,638 |   |

----

| (in thousands)Year Ended December 31                                                           |   | 2010   |     |   | 2009   |   |     | 2008   |   |
|------------------------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|----------|--------|--------|
| Cash flows from operating activities:                                                          |   |   |     |   |   |   |     |   |   |
| Net income                                                                                     |   | $      | 33,034   |   |   | $      | 25,059   |   |   | $ | 23,073 |   |
| Adjustments to reconcile net income to net cash provided by operating activities:              |   |   |     |   |   |   |     |   |   |   |   |   |
| Depreciation and amortization                                                                  |   |   | 4,377    |   |   |   | 5,239    |   |   |   | 5,106 |   |
| Deferred taxes                                                                                 |   |   | 219      |   |   |   | 2,918    |   |   |   | (5,774 | ) |
| Stock-based compensation                                                                       |   |   | 804      |   |   |   | 556      |   |   |   | 712 |   |
| Excess tax benefits of stock-based compensation                                                |   |   | 205      |   |   |   | 391      |   |   |   | 330 |   |
| Dividends on restricted stock                                                                  |   |   | 74       |   |   |   | 20       |   |   |   | 13 |   |
| Provision for loan and other real estate losses                                                |   |   | 17,173   |   |   |   | 18,836   |   |   |   | 11,718 |   |
| Securities (gains)/losses                                                                      |   |   | 0        |   |   |   | (654     | )      |   |   | 50 |   |
| Other than temporary impairment charges                                                        |   |   | 0        |   |   |   | 0        |   |   |   | 14,514 |   |
| Gains on sale of mortgage loans held for sale                                                  |   |   | (1,642   | )      |   |   | (4,324   | )      |   |   | (1,584 | ) |
| Losses on sale of assets, net                                                                  |   |   | 139      |   |   |   | 56       |   |   |   | 370 |   |
| Proceeds from sale of mortgage loans held for sale                                             |   |   | 82,324   |   |   |   | 217,458  |   |   |   | 83,678 |   |
| Funding of mortgage loans held for sale                                                        |   |   | (79,319  | )      |   |   | (214,328 | )      |   |   | (80,383 | ) |
| Amortization/(accretion) of securities premiums and discounts, net                             |   |   | 2,422    |   |   |   | 2,121    |   |   |   | (156 | ) |
| Change in cash surrender value of bank owned life insurance                                    |   |   | (1,580   | )      |   |   | (1,037   | )      |   |   | (850 | ) |
| Mortgage servicing rights:                                                                     |   |   |     |   |   |   |     |   |   |   |   |   |
|         Fair value adjustments                              |   |   | 769      |   |   |   | 107      |   |   |   | 1,503 |   |
|         New servicing assets created                        |   |   | (524     | )      |   |   | (1,345   | )      |   |   | (413 | ) |
| Changes in:                                                                                    |   |   |     |   |   |   |     |   |   |   |   |   |
|         Other assets                                        |   |   | 1,259    |   |   |   | (13,605  | )      |   |   | 4,894 |   |
|         Other liabilities                                   |   |   | 1,570    |   |   |   | 221      |   |   |   | (2,013 | ) |
| Net cash provided by operating activities                                                      |   |   | 61,304   |   |   |   | 37,689   |   |   |   | 54,762 |   |
|                                                                                           |   |   |     |   |   |   |     |   |   |   |   |   |
| Cash flows from investing activities:                                                          |   |   |     |   |   |   |     |   |   |   |   |   |
| Certificates of deposit in other banks:                                                        |   |   |     |   |   |   |     |   |   |   |   |   |
|         Purchase of certificates of deposit                 |   |   | (16,363  | )      |   |   | (29,400  | )      |   |   | 0 |   |
|         Maturity of certificates of deposit                 |   |   | 1,701    |   |   |   | 29,400   |   |   |   | 0 |   |
| Securities available-for-sale:                                                                 |   |   |     |   |   |   |     |   |   |   |   |   |
|         Purchase of securities                              |   |   | (168,612 | )      |   |   | (139,999 | )      |   |   | (57,271 | ) |
|         Proceeds from sales                                 |   |   | 0        |   |   |   | 43,415   |   |   |   | 30,100 |   |
|         Proceeds from prepayments and maturities            |   |   | 127,072  |   |   |   | 97,397   |   |   |   | 72,597 |   |
| Securities held-to-maturity:                                                                   |   |   |     |   |   |   |     |   |   |   |   |   |
|         Purchase of securities                              |   |   | (480     | )      |   |   | (480     | )      |   |   | 0 |   |
|         Proceeds from prepayments and maturities            |   |   | 13,154   |   |   |   | 11,705   |   |   |   | 7,408 |   |
| Change in loans, net                                                                           |   |   | (75,996  | )      |   |   | (135,211 | )      |   |   | (136,464 | ) |
| Purchase of premises and equipment                                                             |   |   | (2,426   | )      |   |   | (2,265   | )      |   |   | (3,184 | ) |
| Proceeds from sale of premises and equipment                                                   |   |   | 9        |   |   |   | 24       |   |   |   | 14 |   |
| Additional investment in equity securities                                                     |   |   | (23      | )      |   |   | (11      | )      |   |   | (980 | ) |
| Redemption of equity securities                                                                |   |   | 0        |   |   |   | 3        |   |   |   | 0 |   |
| Proceeds from sale of other real estate and repossessed assets                                 |   |   | 7,480    |   |   |   | 5,999    |   |   |   | 4,447 |   |
| Additional investment in other real estate owned                                               |   |   | (225     | )      |   |   | (1,928   | )      |   |   | (130 | ) |
| Additional investment in bank owned life insurance                                             |   |   | 0        |   |   |   | (12,945  | )      |   |   | 0 |   |
| Net cash received in acquisition                                                               |   |   | 2,906    |   |   |   | 0        |   |   |   | 0 |   |
| Net cash used in investing activities                                                          |   |   | (111,803 | )      |   |   | (134,296 | )      |   |   | (83,463 | ) |
|                                                                                           |   |   |     |   |   |   |     |   |   |   |   |   |
| Cash flows from financing activities:                                                          |   |   |     |   |   |   |     |   |   |   |   |   |
| Change in deposits, net                                                                        |   |   | 79,794   |   |   |   | 130,375  |   |   |   | 38,670 |   |
| Change in repurchase agreements, federal funds purchased, and other short-term borrowings, net |   |   | 4,853    |   |   |   | 23,762   |   |   |   | (8,430 | ) |
| Advances from Federal Home Loan Bank                                                           |   |   | 40,000   |   |   |   | 20,000   |   |   |   | 20,000 |   |
| Payments on advances from Federal Home Loan Bank                                               |   |   | (40,632  | )      |   |   | (60,056  | )      |   |   | (179 | ) |
| Issuance of common stock                                                                       |   |   | 1,992    |   |   |   | 2,292    |   |   |   | 2,731 |   |
| Purchase of common stock                                                                       |   |   | 0        |   |   |   | 0        |   |   |   | (2,631 | ) |
| Vesting of restricted stock                                                                    |   |   | (117     | )      |   |   | 0        |   |   |   | 0 |   |
| Excess tax benefits of stock-based compensation                                                |   |   | (205     | )      |   |   | (391     | )      |   |   | (330 | ) |
| Dividends paid                                                                                 |   |   | (18,332  | )      |   |   | (18,124  | )      |   |   | (17,402 | ) |
| Net cash provided by financing activities                                                      |   |   | 67,353   |   |   |   | 97,858   |   |   |   | 32,429 |   |
| Net increase in cash and cash equivalents                                                      |   |   | 16,854   |   |   |   | 1,251    |   |   |   | 3,728 |   |
| Cash and cash equivalents at beginning of year                                                 |   |   | 142,129  |   |   |   | 140,878  |   |   |   | 137,150 |   |
| Cash and cash equivalents at end of year                                                       |   | $      | 158,983  |   |   | $      | 142,129  |   |   | $ | 140,878 |   |
|                                                                                           |   |   |     |   |   |   |     |   |   |   |   |   |
| Supplemental disclosures:                                                                      |   |   |     |   |   |   |     |   |   |   |   |   |
| Income taxes paid                                                                              |   | $      | 15,820   |   |   | $      | 6,695    |   |   | $ | 16,428 |   |
| Interest paid                                                                                  |   |   | 36,095   |   |   |   | 49,424   |   |   |   | 65,240 |   |
| Non-cash activities                                                                            |   |   |     |   |   |   |     |   |   |   |   |   |
| Loans to facilitate the sale of other real estate owned and other repossessed assets           |   |   | 1,209    |   |   |   | 946      |   |   |   | 970 |   |
| Common stock dividends accrued, paid in subsequent quarter                                     |   |   | 4,677    |   |   |   | 4,561    |   |   |   | 4,523 |   |
| Real estate acquired in settlement of loans                                                    |   |   | 11,806   |   |   |   | 33,301   |   |   |   | 7,995 |   |
| Other than temporary impairment of investment securities                                       |   |   | 0        |   |   |   | 0        |   |   |   | 14,514 |   |

----

Notes to Consolidated Financial Statements

| (in thousands)               |   | Goodwill |   |   | Core Deposit Intangible |   |
|------------------------------|--------|----------|--------|--------|-------------------------|--------|
| Beginning balance, January 1 |   | $        | 65,059 |   |                    | $      | 648 |   |
| Amortization                 |   |     | 0      |   |                    |   | (430 | ) |
| Acquired through acquisition |   |     | 440    |   |                    |   | 1,124 |   |
| Ending balance, December 31  |   | $        | 65,499 |   |                    | $      | 1,342 |   |

| ·   | The amounts of and reasons for significant transfers in and out of Level 1, Level 2 and Level 3 fair value measurements and the accounting policy for the date used to recognize such transfers, e.g., actual transaction date, beginning of reporting period date or end of reporting period date |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Presentation of purchases, sales, issuances and settlements as separate lines, rather than one net number, in the table reconciling activity for assets and liabilities measured at fair value on a recurring basis using Level 3 inputs |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Provision of fair value measurement disclosures for each class of assets and liabilities with a class often being a subset of assets or liabilities within a balance sheet line item.  Class should be determined on the basis of the nature and risks of investments in debt and equity securities and generally will not require change from the classifications already employed in disclosures for those investments |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Provision of explanations about the valuation techniques and inputs used to determine fair value for both recurring and nonrecurring fair value measurements falling in either Level 2 or Level 3 |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Revision of the existing disclosures made by a plan sponsor about fair value for assets of defined benefit pension and other postretirement benefit plans to require those disclosures be made by asset class instead of asset category |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (in thousands)                                               |   |   |    |
|--------------------------------------------------------------|--------|--------|---------|
| Fair value of consideration                                  |   |   |    |
| Cash paid (24,759 shares @ $650)                             |   | $      | 16,093  |   |
| Payoff of LaFollette Corporation debt                        |   |   | 1,213   |   |
| Total consideration paid                                     |   |   | 17,306  |   |
|                                                         |   |   |    |   |
| Assets acquired                                              |   |   |    |   |
| Cash                                                         |   |   | 20,212  |   |
| Loans, net of purchase discounts                             |   |   | 118,602 |   |
|   Federal Reserve Bank and Federal Home Loan Bank stock |   |   | 1,036   |   |
| Securities                                                   |   |   | 29,784  |   |
| Other real estate owned                                      |   |   | 2,726   |   |
| Premises and equipment                                       |   |   | 7,622   |   |
| Accrued interest receivable                                  |   |   | 708     |   |
| Core deposit intangible                                      |   |   | 1,124   |   |
| Other assets                                                 |   |   | 1,824   |   |
| Total assets acquired                                        |   |   | 183,638 |   |
|                                                         |   |   |    |   |
| Liabilities assumed                                          |   |   |    |   |
| Deposits                                                     |   |   | 164,114 |   |
| Repurchase agreements                                        |   |   | 426     |   |
| Federal Home Loan Bank advances                              |   |   | 1,199   |   |
| Accrued interest payable                                     |   |   | 158     |   |
| Other liabilities                                            |   |   | 875     |   |
| Total liabilities assumed                                    |   |   | 166,772 |   |
|                                                         |   |   |    |   |
| Net assets acquired                                          |   |   | 16,866  |   |
|                                                         |   |   |    |   |
| Goodwill                                                     |   | $      | 440     |   |

----

| (in thousands)                        |   | Amortized Cost |    |   | Gross Unrealized Gains |   |   | Gross Unrealized Losses |   |   | Fair Value |   |
|---------------------------------------|--------|----------------|---------|--------|------------------------|--------|--------|-------------------------|--------|--------|------------|--------|
| U.S. Treasury and government agencies |   | $              | 29,154  |   |                   | $      | 330    |                    |   | $      | (230       | )      |   | $ | 29,254 |   |
| State and political subdivisions      |   |           | 52,017  |   |                   |   | 690    |                    |   |   | (842       | )      |   |   | 51,865 |   |
| U.S. government sponsored agencies    |   |           | 230,905 |   |                   |   | 6,690  |                    |   |   | (352       | )      |   |   | 237,243 |   |
| Total debt securities                 |   |           | 312,076 |   |                   |   | 7,710  |                    |   |   | (1,424     | )      |   |   | 318,362 |   |
| Marketable equity securities          |   |           | 20,582  |   |                   |   | 41     |                    |   |   | (310       | )      |   |   | 20,313 |   |
| Total available-for-sale securities   |   | $              | 332,658 |   |                   | $      | 7,751  |                    |   | $      | (1,734     | )      |   | $ | 338,675 |   |

| (in thousands)                    |   | Amortized Cost |   |   | Gross Unrealized Gains |   |   | Gross Unrealized Losses |   |   | Fair Value |   |
|-----------------------------------|--------|----------------|--------|--------|------------------------|--------|--------|-------------------------|--------|--------|------------|--------|
| State and political subdivisions  |   | $              | 1,182  |   |                   | $      | 0      |                    |   | $      | 0          |   |   | $ | 1,182 |   |
| Other debt securities             |   |           | 480    |   |                   |   | 0      |                    |   |   | 0          |   |   |   | 480 |   |
| Total held-to-maturity securities |   | $              | 1,662  |   |                   | $      | 0      |                    |   | $      | 0          |   |   | $ | 1,662 |   |

| (in thousands)                        |   | Amortized Cost |    |   | Gross Unrealized Gains |   |   | Gross Unrealized Losses |   |   | Fair Value |   |
|---------------------------------------|--------|----------------|---------|--------|------------------------|--------|--------|-------------------------|--------|--------|------------|--------|
| U.S. Treasury and government agencies |   | $              | 16,994  |   |                   | $      | 20     |                    |   | $      | (283       | )      |   | $ | 16,731 |   |
| State and political subdivisions      |   |           | 44,529  |   |                   |   | 1,222  |                    |   |   | (94        | )      |   |   | 45,657 |   |
| U.S. government sponsored agencies    |   |           | 181,693 |   |                   |   | 5,787  |                    |   |   | (83        | )      |   |   | 187,397 |   |
| Total debt securities                 |   |           | 243,216 |   |                   |   | 7,029  |                    |   |   | (460       | )      |   |   | 249,785 |   |
| Marketable equity securities          |   |           | 20,540  |   |                   |   | 97     |                    |   |   | (185       | )      |   |   | 20,452 |   |
| Total available-for-sale securities   |   | $              | 263,756 |   |                   | $      | 7,126  |                    |   | $      | (645       | )      |   | $ | 270,237 |   |

| (in thousands)                     |   | Amortized Cost |   |   | Gross Unrealized Gains |   |   | Gross Unrealized Losses |   |   | Fair Value |   |
|------------------------------------|--------|----------------|--------|--------|------------------------|--------|--------|-------------------------|--------|--------|------------|--------|
| State and political subdivisions   |   | $              | 1,576  |   |                   | $      | 6      |                    |   | $      | 0          |   |   | $ | 1,582 |   |
| U.S. government sponsored agencies |   |           | 12,280 |   |                   |   | 93     |                    |   |   | 0          |   |   |   | 12,373 |   |
| Other debt securities              |   |           | 480    |   |                   |   | 0      |                    |   |   | 0          |   |   |   | 480 |   |
| Total held-to-maturity securities  |   | $              | 14,336 |   |                   | $      | 99     |                    |   | $      | 0          |   |   | $ | 14,435 |   |

|                               |   | Available-for-Sale |    |   | Held-to-Maturity |   |
|------------------------------------|--------|--------------------|---------|--------|------------------|--------|
| (in thousands)                     |   | Amortized Cost     |    |   | Fair Value       |   |   | Amortized Cost |   |   | Fair Value |   |
| Due in one year or less            |   | $                  | 3,335   |   |             | $      | 3,372 |   |   | $ | 0 |   |   | $ | 0 |   |
| Due after one through five years   |   |               | 21,561  |   |             |   | 21,817 |   |   |   | 0 |   |   |   | 0 |   |
| Due after five through ten years   |   |               | 33,491  |   |             |   | 33,676 |   |   |   | 1,182 |   |   |   | 1,182 |   |
| Due after ten years                |   |               | 22,784  |   |             |   | 22,254 |   |   |   | 0 |   |   |   | 0 |   |
| U.S. government sponsored agencies |   |               | 230,905 |   |             |   | 237,243 |   |   |   | 0 |   |   |   | 0 |   |
| Other securities                   |   |               | 0       |   |             |   | 0 |   |   |   | 480 |   |   |   | 480 |   |
| Total debt securities              |   |               | 312,076 |   |             |   | 318,362 |   |   |   | 1,662 |   |   |   | 1,662 |   |
| Marketable equity securities       |   |               | 20,582  |   |             |   | 20,313 |   |   |   | 0 |   |   |   | 0 |   |
| Total securities                   |   | $                  | 332,658 |   |             | $      | 338,675 |   |   | $ | 1,662 |   |   | $ | 1,662 |   |

----

| (in thousands)                        |   | Amortized Cost |   |   | Gross Unrealized Losses |   |   | Fair Value |   |
|---------------------------------------|--------|----------------|--------|--------|-------------------------|--------|--------|------------|--------|
| Less Than 12 Months                   |   |           |   |   |                    |   |   |       |   |
| U.S. Treasury and government agencies |   | $              | 10,384 |   |                    | $      | (230   | )          |   | $ | 10,154 |   |
| State and political subdivisions      |   |           | 24,624 |   |                    |   | (826   | )          |   |   | 23,798 |   |
| U.S. government sponsored agencies    |   |           | 30,016 |   |                    |   | (352   | )          |   |   | 29,664 |   |
| Total debt securities                 |   |           | 65,024 |   |                    |   | (1,408 | )          |   |   | 63,616 |   |
| Marketable equity securities          |   |           | 42     |   |                    |   | (17    | )          |   |   | 25 |   |
| Total securities                      |   |           | 65,066 |   |                    |   | (1,425 | )          |   |   | 63,641 |   |
|                                  |   |           |   |   |                    |   |   |       |   |   |   |   |
| 12 Months or More                     |   |           |   |   |                    |   |   |       |   |   |   |   |
| U.S. Treasury and government agencies |   |           | 0      |   |                    |   | 0      |       |   |   | 0 |   |
| State and political subdivisions      |   |           | 590    |   |                    |   | (16    | )          |   |   | 574 |   |
| U.S. government sponsored agencies    |   |           | 0      |   |                    |   | 0      |       |   |   | 0 |   |
| Total debt securities                 |   |           | 590    |   |                    |   | (16    | )          |   |   | 574 |   |
| Marketable equity securities          |   |           | 329    |   |                    |   | (293   | )          |   |   | 36 |   |
| Total securities                      |   |           | 919    |   |                    |   | (309   | )          |   |   | 610 |   |
|                                  |   |           |   |   |                    |   |   |       |   |   |   |   |
| Total                                 |   |           |   |   |                    |   |   |       |   |   |   |   |
| U.S. Treasury and government agencies |   |           | 10,384 |   |                    |   | (230   | )          |   |   | 10,154 |   |
| State and political subdivisions      |   |           | 25,214 |   |                    |   | (842   | )          |   |   | 24,372 |   |
| U.S. government sponsored agencies    |   |           | 30,016 |   |                    |   | (352   | )          |   |   | 29,664 |   |
| Total debt securities                 |   |           | 65,614 |   |                    |   | (1,424 | )          |   |   | 64,190 |   |
| Marketable equity securities          |   |           | 371    |   |                    |   | (310   | )          |   |   | 61 |   |
| Total securities                      |   | $              | 65,985 |   |                    | $      | (1,734 | )          |   | $ | 64,251 |   |

| (in thousands)                        |   | Amortized Cost |   |   | Gross Unrealized Losses |   |   | Fair Value |   |
|---------------------------------------|--------|----------------|--------|--------|-------------------------|--------|--------|------------|--------|
| Less Than 12 Months                   |   |           |   |   |                    |   |   |       |   |
| U.S. Treasury and government agencies |   | $              | 14,992 |   |                    | $      | (283   | )          |   | $ | 14,709 |   |
| State and political subdivisions      |   |           | 2,567  |   |                    |   | (55    | )          |   |   | 2,512 |   |
| U.S. government sponsored agencies    |   |           | 5,013  |   |                    |   | (83    | )          |   |   | 4,930 |   |
| Total debt securities                 |   |           | 22,572 |   |                    |   | (421   | )          |   |   | 22,151 |   |
| Marketable equity securities          |   |           | 540    |   |                    |   | (185   | )          |   |   | 355 |   |
| Total securities                      |   |           | 23,112 |   |                    |   | (606   | )          |   |   | 22,506 |   |
|                                  |   |           |   |   |                    |   |   |       |   |   |   |   |
| 12 Months or More                     |   |           |   |   |                    |   |   |       |   |   |   |   |
| U.S. Treasury and government agencies |   |           | 0      |   |                    |   | 0      |       |   |   | 0 |   |
| State and political subdivisions      |   |           | 1,601  |   |                    |   | (39    | )          |   |   | 1,562 |   |
| U.S. government sponsored agencies    |   |           | 0      |   |                    |   | 0      |       |   |   | 0 |   |
| Total debt securities                 |   |           | 1,601  |   |                    |   | (39    | )          |   |   | 1,562 |   |
| Marketable equity securities          |   |           | 0      |   |                    |   | 0      |       |   |   | 0 |   |
| Total securities                      |   |           | 1,601  |   |                    |   | (39    | )          |   |   | 1,562 |   |
|                                  |   |           |   |   |                    |   |   |       |   |   |   |   |
| Total                                 |   |           |   |   |                    |   |   |       |   |   |   |   |
| U.S. Treasury and government agencies |   |           | 14,992 |   |                    |   | (283   | )          |   |   | 14,709 |   |
| State and political subdivisions      |   |           | 4,168  |   |                    |   | (94    | )          |   |   | 4,074 |   |
| U.S. government sponsored agencies    |   |           | 5,013  |   |                    |   | (83    | )          |   |   | 4,930 |   |
| Total debt securities                 |   |           | 24,173 |   |                    |   | (460   | )          |   |   | 23,713 |   |
| Marketable equity securities          |   |           | 540    |   |                    |   | (185   | )          |   |   | 355 |   |
| Total securities                      |   | $              | 24,713 |   |                    | $      | (645   | )          |   | $ | 24,068 |   |

| (in thousands)December 31         |   | 2010   |      |   | 2009   |   |
|-----------------------------------|--------|--------|-----------|--------|--------|--------|
| Commercial construction           |   | $      | 135,091   |   |   | $      | 141,440 |   |
| Commercial secured by real estate |   |   | 807,049   |   |   |   | 707,500 |   |
| Equipment lease financing         |   |   | 14,151    |   |   |   | 20,048 |   |
| Commercial other                  |   |   | 388,746   |   |   |   | 373,829 |   |
| Real estate construction          |   |   | 56,910    |   |   |   | 51,311 |   |
| Real estate mortgage              |   |   | 623,851   |   |   |   | 528,592 |   |
| Home equity                       |   |   | 85,103    |   |   |   | 82,135 |   |
| Consumer direct                   |   |   | 126,046   |   |   |   | 115,555 |   |
| Consumer indirect                 |   |   | 368,233   |   |   |   | 415,350 |   |
|                              |   | $      | 2,605,180 |   |   | $      | 2,435,760 |   |

| (in thousands)               |   |   |   |
|------------------------------|--------|--------|--------|
| Balance at January 1, 2010   |   | $      | 0      |   |
| Additions                    |   |   | 3,152  |   |
| Accretion                    |   |   | (126   | ) |
| Disposals                    |   |   | (31    | ) |
| Balance at December 31, 2010 |   | $      | 2,995  |   |

| (in thousands)December 31         |   | 2010   |   |   | 2009   |   |
|-----------------------------------|--------|--------|--------|--------|--------|--------|
| Commercial:                       |   |   |   |   |   |   |
| Commercial construction           |   | $      | 13,138 |   |   | $      | 12,312 |   |
| Commercial secured by real estate |   |   | 15,608 |   |   |   | 9,803 |   |
| Commercial other                  |   |   | 9,338  |   |   |   | 4,489 |   |
|                              |   |   |   |   |   |   |   |   |
| Residential:                      |   |   |   |   |   |   |   |   |
| Real estate construction          |   |   | 636    |   |   |   | 1,244 |   |
| Real estate mortgage              |   |   | 6,137  |   |   |   | 3,781 |   |
| Home equity                       |   |   | 164    |   |   |   | 618 |   |
| Total nonaccrual loans            |   | $      | 45,021 |   |   | $      | 32,247 |   |

|                              |   | 2010                |   |
|-----------------------------------|--------|---------------------|--------|
| (in thousands)                    |   | 30-59 Days Past Due |   |   | 60-89 Days Past Due |   |   | 90+ Days Past Due |   |   | Total Past Due |   |   | Current |   |   | Total Loans |   |   | 90+ and Accruing* |   |
| Commercial:                       |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial construction           |   | $                   | 1,826  |   |   | $ | 545 |   |   | $ | 14,290 |   |   | $ | 16,661 |   |   | $ | 118,430 |   |   | $ | 135,091 |   |   | $ | 1,178 |   |
| Commercial secured by real estate |   |                | 6,861  |   |   |   | 8,618 |   |   |   | 22,195 |   |   |   | 37,674 |   |   |   | 769,375 |   |   |   | 807,049 |   |   |   | 9,641 |   |
| Equipment lease financing         |   |                | 0      |   |   |   | 0 |   |   |   | 0 |   |   |   | 0 |   |   |   | 14,151 |   |   |   | 14,151 |   |   |   | 0 |   |
| Commercial other                  |   |                | 6,737  |   |   |   | 539 |   |   |   | 5,039 |   |   |   | 12,315 |   |   |   | 376,431 |   |   |   | 388,746 |   |   |   | 1,692 |   |
| Residential:                      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Real estate construction          |   |                | 109    |   |   |   | 767 |   |   |   | 1,009 |   |   |   | 1,885 |   |   |   | 55,025 |   |   |   | 56,910 |   |   |   | 372 |   |
| Real estate mortgage              |   |                | 1,912  |   |   |   | 3,764 |   |   |   | 8,844 |   |   |   | 14,520 |   |   |   | 609,331 |   |   |   | 623,851 |   |   |   | 3,337 |   |
| Home equity                       |   |                | 920    |   |   |   | 276 |   |   |   | 295 |   |   |   | 1,491 |   |   |   | 83,612 |   |   |   | 85,103 |   |   |   | 226 |   |
| Consumer:                         |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Consumer direct                   |   |                | 1,569  |   |   |   | 242 |   |   |   | 70 |   |   |   | 1,881 |   |   |   | 124,165 |   |   |   | 126,046 |   |   |   | 70 |   |
| Consumer indirect                 |   |                | 2,851  |   |   |   | 684 |   |   |   | 498 |   |   |   | 4,033 |   |   |   | 364,200 |   |   |   | 368,233 |   |   |   | 498 |   |
| Total                             |   | $                   | 22,785 |   |   | $ | 15,435 |   |   | $ | 52,240 |   |   | $ | 90,460 |   |   | $ | 2,514,720 |   |   | $ | 2,605,180 |   |   | $ | 17,014 |   |

|                              |   | 2009               |   |
|-----------------------------------|--------|--------------------|--------|
| (in thousands)                    |   | 30-59 DaysPast Due |   |   | 60-89 DaysPast Due |   |   | 90+ DaysPast Due |   |   | Total Past Due |   |   | Current |   |   | Total Loans |   |   | 90+ and Accruing* |   |
| Commercial:                       |   |               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial construction           |   | $                  | 375    |   |   | $ | 4,458 |   |   | $ | 10,899 |   |   | $ | 15,732 |   |   | $ | 125,708 |   |   | $ | 141,440 |   |   | $ | 865 |   |
| Commercial secured by real estate |   |               | 2,634  |   |   |   | 860 |   |   |   | 14,911 |   |   |   | 18,405 |   |   |   | 689,095 |   |   |   | 707,500 |   |   |   | 5,640 |   |
| Equipment lease financing         |   |               | 0      |   |   |   | 0 |   |   |   | 0 |   |   |   | 0 |   |   |   | 20,048 |   |   |   | 20,048 |   |   |   | 0 |   |
| Commercial other                  |   |               | 3,741  |   |   |   | 3,780 |   |   |   | 3,657 |   |   |   | 11,178 |   |   |   | 362,651 |   |   |   | 373,829 |   |   |   | 286 |   |
| Residential:                      |   |               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Real estate construction          |   |               | 307    |   |   |   | 1,236 |   |   |   | 0 |   |   |   | 1,543 |   |   |   | 49,768 |   |   |   | 51,311 |   |   |   | 0 |   |
| Real estate mortgage              |   |               | 997    |   |   |   | 3,861 |   |   |   | 5,022 |   |   |   | 9,880 |   |   |   | 518,712 |   |   |   | 528,592 |   |   |   | 1,540 |   |
| Home equity                       |   |               | 721    |   |   |   | 123 |   |   |   | 600 |   |   |   | 1,444 |   |   |   | 80,691 |   |   |   | 82,135 |   |   |   | 158 |   |
| Consumer:                         |   |               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Consumer direct                   |   |               | 1,292  |   |   |   | 249 |   |   |   | 160 |   |   |   | 1,701 |   |   |   | 113,854 |   |   |   | 115,555 |   |   |   | 160 |   |
| Consumer indirect                 |   |               | 4,669  |   |   |   | 1,118 |   |   |   | 418 |   |   |   | 6,205 |   |   |   | 409,145 |   |   |   | 415,350 |   |   |   | 418 |   |
| Total                             |   | $                  | 14,736 |   |   | $ | 15,685 |   |   | $ | 35,667 |   |   | $ | 66,088 |   |   | $ | 2,369,672 |   |   | $ | 2,435,760 |   |   | $ | 9,067 |   |

| Ø   | Pass grades include investment grade, low risk, moderate risk, and acceptable risk loans.  The loans range from loans that have no chance of resulting in a loss to loans that have a limited chance of resulting in a loss.  Customers in this grade have excellent to fair credit ratings.  The cash flows are adequate to meet required debt repayments. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Watch graded loans are loans that warrant extra management attention but are not currently criticized.  Loans on the watch list may be potential troubled credits or may warrant “watch” status for a reason not directly related to the asset quality of the credit.  The watch grade is a management tool to identify credits which may be candidates for future classification or may temporarily warrant extra management monitoring. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Other assets especially mentioned (OAEM) reflects loans that are currently protected but are potentially weak.  These loans constitute an undue and unwarranted credit risk but not to the point of justifying a classification of substandard.  The credit risk may be relatively minor yet constitute an unwarranted risk in the Bank’s credit position at some future date.  The loans may be adversely affected by economic or market conditions. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Substandard grading indicates that the loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged.  These loans have a well-defined weakness or weaknesses that jeopardize the orderly liquidation of the debt with the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Doubtful graded loans have the weaknesses inherent in the substandard grading with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.  The probability of loss is extremely high, but because of certain important and reasonably specific pending factors which may work to the Bank’s advantage or strengthen the asset(s), its classification as an estimated loss is deferred until its more exact status may be determined.  Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and refinancing plans. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | A loss grading applies to loans that are considered uncollectible and of such little value that their continuance as bankable assets is not warranted.  This classification does not mean that the asset has absolutely no recovery value, but rather it is not practical or desirable to defer writing off the asset.  Losses must be taken in the period in which they surface as uncollectible. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  (in thousands) |   | Real Estate Commercial Construction |    |   | Commercial Secured by Real Estate |   |    | Commercial Other |   |   | Equipment Leases |   |
|----------------------|--------|-------------------------------------|---------|--------|-----------------------------------|--------|---------|------------------|--------|--------|------------------|--------|
| December 31, 2010    |   |                                |    |   |                              |   |    |             |   |   |             |   |
| Pass                 |   | $                                   | 80,064  |   |                              | $      | 651,281 |             |   | $      | 313,444          |   |   | $ | 14,151 |   |
| Watch                |   |                                | 27,510  |   |                              |   | 80,128  |             |   |   | 57,716           |   |   |   | 0 |   |
| OAEM                 |   |                                | 853     |   |                              |   | 8,163   |             |   |   | 731              |   |   |   | 0 |   |
| Substandard          |   |                                | 13,987  |   |                              |   | 53,141  |             |   |   | 7,348            |   |   |   | 0 |   |
| Doubtful             |   |                                | 12,506  |   |                              |   | 13,813  |             |   |   | 7,456            |   |   |   | 0 |   |
| Loss                 |   |                                | 171     |   |                              |   | 523     |             |   |   | 2,051            |   |   |   | 0 |   |
| Total                |   | $                                   | 135,091 |   |                              | $      | 807,049 |             |   | $      | 388,746          |   |   | $ | 14,151 |   |
|                 |   |                                |    |   |                              |   |    |             |   |   |             |   |   |   |   |   |
| December 31, 2009    |   |                                |    |   |                              |   |    |             |   |   |             |   |   |   |   |   |
| Pass                 |   | $                                   | 87,964  |   |                              | $      | 582,561 |             |   | $      | 298,208          |   |   | $ | 20,048 |   |
| Watch                |   |                                | 21,288  |   |                              |   | 67,885  |             |   |   | 54,931           |   |   |   | 0 |   |
| OAEM                 |   |                                | 8,215   |   |                              |   | 18,305  |             |   |   | 4,243            |   |   |   | 0 |   |
| Substandard          |   |                                | 11,331  |   |                              |   | 29,210  |             |   |   | 12,676           |   |   |   | 0 |   |
| Doubtful             |   |                                | 12,472  |   |                              |   | 9,426   |             |   |   | 2,168            |   |   |   | 0 |   |
| Loss                 |   |                                | 170     |   |                              |   | 113     |             |   |   | 1,603            |   |   |   | 0 |   |
| Total                |   | $                                   | 141,440 |   |                              | $      | 707,500 |             |   | $      | 373,829          |   |   | $ | 20,048 |   |

| (in thousands)    |   | Real Estate Consumer Construction |   |   | Real Estate Mortgage |   |    | Home Equity |   |   | Consumer Direct |   |   | ConsumerIndirect |    |
|-------------------|--------|-----------------------------------|--------|--------|----------------------|--------|---------|-------------|--------|--------|-----------------|--------|--------|------------------|---------|
| December 31, 2010 |   |                              |   |   |                 |   |    |        |   |   |            |   |   |             |    |
| Performing        |   | $                                 | 55,902 |   |                 | $      | 614,377 |        |   | $      | 84,713          |   |   | $                | 125,976 |   |   | $ | 367,735 |   |
| Nonperforming     |   |                              | 1,008  |   |                 |   | 9,474   |        |   |   | 390             |   |   |             | 70      |   |   |   | 498 |   |
| Total             |   | $                                 | 56,910 |   |                 | $      | 623,851 |        |   | $      | 85,103          |   |   | $                | 126,046 |   |   | $ | 368,233 |   |
|              |   |                              |   |   |                 |   |    |        |   |   |            |   |   |             |    |   |   |   |   |   |
| December 31, 2009 |   |                              |   |   |                 |   |    |        |   |   |            |   |   |             |    |   |   |   |   |   |
| Performing        |   | $                                 | 50,067 |   |                 | $      | 523,271 |        |   | $      | 81,359          |   |   | $                | 115,395 |   |   | $ | 414,932 |   |
| Nonperforming     |   |                              | 1,244  |   |                 |   | 5,321   |        |   |   | 776             |   |   |             | 160     |   |   |   | 418 |   |
| Total             |   | $                                 | 51,311 |   |                 | $      | 528,592 |        |   | $      | 82,135          |   |   | $                | 115,555 |   |   | $ | 415,350 |   |

|                                         |   | 2010             |   |
|----------------------------------------------|--------|------------------|--------|
| (in thousands)                               |   | Recorded Balance |   |   | Unpaid Principal Balance |   |   | Specific Allowance |   |   | Average Investment in Impaired Loans |   |   | Interest Income Recognized |   |
| Loans without a specific valuation allowance |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial construction                      |   | $                | 6,313  |   |   | $ | 6,313 |   |   | $ | 0 |   |   | $ | 6,262 |   |   | $ | 43 |   |
| Commercial secured by real estate            |   |             | 23,503 |   |   |   | 24,034 |   |   |   | 0 |   |   |   | 23,629 |   |   |   | 330 |   |
| Commercial other                             |   |             | 4,357  |   |   |   | 4,616 |   |   |   | 0 |   |   |   | 4,407 |   |   |   | 71 |   |
| Real estate construction                     |   |             | 790    |   |   |   | 790 |   |   |   | 0 |   |   |   | 790 |   |   |   | 0 |   |
| Real estate mortgage                         |   |             | 950    |   |   |   | 950 |   |   |   | 0 |   |   |   | 950 |   |   |   | 0 |   |
|                                         |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans with a specific valuation allowance    |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial construction                      |   |             | 9,528  |   |   |   | 10,813 |   |   |   | 2,554 |   |   |   | 9,686 |   |   |   | 0 |   |
| Commercial secured by real estate            |   |             | 9,188  |   |   |   | 9,358 |   |   |   | 2,575 |   |   |   | 9,191 |   |   |   | 2 |   |
| Commercial other                             |   |             | 8,680  |   |   |   | 10,338 |   |   |   | 3,093 |   |   |   | 8,090 |   |   |   | 85 |   |
|                                         |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial                                   |   |             | 61,569 |   |   |   | 65,472 |   |   |   | 8,222 |   |   |   | 61,265 |   |   |   | 531 |   |
| Residential                                  |   |             | 1,740  |   |   |   | 1,740 |   |   |   | 0 |   |   |   | 1,740 |   |   |   | 0 |   |
| Total                                        |   | $                | 63,309 |   |   | $ | 67,212 |   |   | $ | 8,222 |   |   | $ | 63,005 |   |   | $ | 531 |   |

|                                         |   | 2009             |   |
|----------------------------------------------|--------|------------------|--------|
| (in thousands)                               |   | Recorded Balance |   |   | Unpaid Principal Balance |   |   | Specific Allowance |   |   | Average Investment in Impaired Loans |   |   | Interest Income Recognized |   |
| Loans without a specific valuation allowance |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial construction                      |   | $                | 5,855  |   |   | $ | 6,080 |   |   | $ | 0 |   |   | $ | 5,512 |   |   | $ | 117 |   |
| Commercial secured by real estate            |   |             | 2,910  |   |   |   | 2,977 |   |   |   | 0 |   |   |   | 2,654 |   |   |   | 53 |   |
| Commercial other                             |   |             | 4,009  |   |   |   | 5,010 |   |   |   | 0 |   |   |   | 4,424 |   |   |   | 117 |   |
| Real estate construction                     |   |             | 1,244  |   |   |   | 1,396 |   |   |   | 0 |   |   |   | 1,134 |   |   |   | 0 |   |
| Real estate mortgage                         |   |             | 3,781  |   |   |   | 3,823 |   |   |   | 0 |   |   |   | 3,452 |   |   |   | 0 |   |
| Home equity                                  |   |             | 618    |   |   |   | 620 |   |   |   | 0 |   |   |   | 566 |   |   |   | 0 |   |
|                                         |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans with a specific valuation allowance    |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial construction                      |   |             | 8,422  |   |   |   | 8,852 |   |   |   | 3,104 |   |   |   | 7,679 |   |   |   | 135 |   |
| Commercial secured by real estate            |   |             | 6,893  |   |   |   | 7,158 |   |   |   | 2,060 |   |   |   | 6,287 |   |   |   | 51 |   |
| Commercial other                             |   |             | 3,922  |   |   |   | 5,481 |   |   |   | 1,434 |   |   |   | 3,692 |   |   |   | 35 |   |
|                                         |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial                                   |   |             | 32,011 |   |   |   | 35,558 |   |   |   | 6,598 |   |   |   | 30,248 |   |   |   | 508 |   |
| Residential                                  |   |             | 5,643  |   |   |   | 5,839 |   |   |   | 0 |   |   |   | 5,152 |   |   |   | 0 |   |
| Total                                        |   | $                | 37,654 |   |   | $ | 41,397 |   |   | $ | 6,598 |   |   | $ | 35,400 |   |   | $ | 508 |   |

| (in thousands)Year Ended December 31    |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|-----------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Net gain on sale of loans held for sale |   | $      | 1,642  |   |   | $      | 4,324  |   |   | $ | 1,583 |   |
| Net loan servicing income (expense)     |   |   |   |   |   |   |   |   |   |   |   |   |
| Servicing fees                          |   |   | 1,110  |   |   |   | 1,040  |   |   |   | 888 |   |
| Late fees                               |   |   | 74     |   |   |   | 72     |   |   |   | 59 |   |
| Ancillary fees                          |   |   | 269    |   |   |   | 512    |   |   |   | 165 |   |
| Fair value adjustments                  |   |   | (769   | )      |   |   | (107   | )      |   |   | (1,503 | ) |
| Net loan servicing income (expense)     |   |   | 684    |   |   |   | 1,517  |   |   |   | (391 | ) |
| Mortgage banking income                 |   | $      | 2,326  |   |   | $      | 5,841  |   |   | $ | 1,192 |   |

| (in thousands)                                 |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Fair value, beginning of period                |   | $      | 3,406  |   |   | $      | 2,168  |   |   | $ | 3,258 |   |
| New servicing assets created                   |   |   | 524    |   |   |   | 1,345  |   |   |   | 413 |   |
| Change in fair value during the period due to: |   |   |   |   |   |   |   |   |   |   |   |   |
| Time decay (1)                                 |   |   | (161   | )      |   |   | (136   | )      |   |   | (117 | ) |
| Payoffs (2)                                    |   |   | (190   | )      |   |   | (579   | )      |   |   | (352 | ) |
| Changes in valuation inputs or assumptions (3) |   |   | (418   | )      |   |   | 608    |   |   |   | (1,034 | ) |
| Fair value, end of period                      |   | $      | 3,161  |   |   | $      | 3,406  |   |   | $ | 2,168 |   |

| (1)   | Represents decrease in value due to regularly scheduled loan principal payments and partial loan paydowns. |
|-----------------|------------------------------------------------------------------------------------------------------------|

| (2)   | Represents decrease in value due to loans that paid off during the period. |
|-----------------|----------------------------------------------------------------------------|

| (3)   | Represents change in value resulting from market-driven changes in interest rates. |
|-----------------|------------------------------------------------------------------------------------|

| (in thousands)                                          |   | 2010   |   |   | 2009   |   |
|---------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Related party extensions of credit, beginning of period |   | $      | 18,393 |   |   | $      | 20,789 |   |
| New loans                                               |   |   | 2,794  |   |   |   | 4,706 |   |
| Repayments                                              |   |   | (1,946 | )      |   |   | (1,188 | ) |
| Decrease due to changes in related parties              |   |   | (352   | )      |   |   | (5,914 | ) |
| Related party extensions of credit, end of period       |   | $      | 18,889 |   |   | $      | 18,393 |   |

| (in thousands)                  |   | 2010   |    |   | 2009   |   |    | 2008   |   |
|---------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
| Balance, beginning of year      |   | $      | 32,643  |   |   | $      | 30,821  |   |   | $ | 28,054 |   |
| Provision charged to operations |   |   | 16,484  |   |   |   | 17,468  |   |   |   | 11,452 |   |
| Recoveries                      |   |   | 3,314   |   |   |   | 3,213   |   |   |   | 2,613 |   |
| Charge-offs                     |   |   | (17,636 | )      |   |   | (18,859 | )      |   |   | (11,298 | ) |
| Balance, end of year            |   | $      | 34,805  |   |   | $      | 32,643  |   |   | $ | 30,821 |   |

----

| (in thousands)                        |   | Commercial Construction |    |   | Commercial Secured by Real Estate |   |    | Commercial Other |   |   | Equipment Lease Financing |   |   | Real Estate Construction |   |   | Real Estate Mortgage |   |   | Home Equity |   |   | Consumer Direct |   |   | Consumer Indirect |   |   | Total  |   |
|---------------------------------------|--------|-------------------------|---------|--------|-----------------------------------|--------|---------|------------------|--------|--------|---------------------------|--------|--------|--------------------------|--------|--------|----------------------|--------|--------|-------------|--------|--------|-----------------|--------|--------|-------------------|--------|--------|--------|--------|
|                                  |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |
| 2010                                  |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |
| Allowance for loan losses             |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |
| Balance, beginning of year            |   | $                       | 3,381   |   |                              | $      | 10,961  |             |   | $      | 7,472                     |   |   | $                        | 221    |   |                 | $      | 291    |        |   | $      | 3,041           |   |   | $                 | 455    |   |   | $      | 1,258 |   |   | $ | 5,563 |   |   | $ | 32,643 |   |
| Provision charged to expense          |   |                    | 2,640   |   |                              |   | 5,029   |             |   |   | 4,416                     |   |   |                     | (73    | )      |                 |   | (17    | )           |   |   | 526             |   |   |              | 287    |   |   |   | 532 |   |   |   | 3,144 |   |   |   | 16,484 |   |
| Losses charged off                    |   |                    | 1,695   |   |                              |   | 3,826   |             |   |   | 5,184                     |   |   |                     | 0      |   |                 |   | 22     |        |   |   | 684             |   |   |              | 358    |   |   |   | 1,256 |   |   |   | 4,611 |   |   |   | 17,636 |   |
| Recoveries                            |   |                    | 6       |   |                              |   | 163     |             |   |   | 688                       |   |   |                     | 0      |   |                 |   | 19     |        |   |   | 99              |   |   |              | 23     |   |   |   | 635 |   |   |   | 1,681 |   |   |   | 3,314 |   |
| Balance, end of year                  |   | $                       | 4,332   |   |                              | $      | 12,327  |             |   | $      | 7,392                     |   |   | $                        | 148    |   |                 | $      | 271    |        |   | $      | 2,982           |   |   | $                 | 407    |   |   | $      | 1,169 |   |   | $ | 5,777 |   |   | $ | 34,805 |   |
|                                  |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending balance:                       |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Individually evaluated for impairment |   | $                       | 2,554   |   |                              | $      | 2,575   |             |   | $      | 3,093                     |   |   | $                        | 0      |   |                 | $      | 0      |        |   | $      | 0               |   |   | $                 | 0      |   |   | $      | 0 |   |   | $ | 0 |   |   | $ | 8,222 |   |
| Collectively evaluated for impairment |   | $                       | 1,778   |   |                              | $      | 9,752   |             |   | $      | 4,299                     |   |   | $                        | 148    |   |                 | $      | 271    |        |   | $      | 2,982           |   |   | $                 | 407    |   |   | $      | 1,169 |   |   | $ | 5,777 |   |   | $ | 26,583 |   |
|                                  |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans:                                |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending balance:                       |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Individually evaluated for impairment |   | $                       | 15,841  |   |                              | $      | 32,691  |             |   | $      | 13,037                    |   |   | $                        | 0      |   |                 | $      | 790    |        |   | $      | 950             |   |   | $                 | 0      |   |   | $      | 0 |   |   | $ | 0 |   |   | $ | 63,309 |   |
| Collectively evaluated for impairment |   | $                       | 119,250 |   |                              | $      | 774,358 |             |   | $      | 375,709                   |   |   | $                        | 14,151 |   |                 | $      | 56,120 |        |   | $      | 622,901         |   |   | $                 | 85,103 |   |   | $      | 126,046 |   |   | $ | 368,233 |   |   | $ | 2,541,871 |   |

| (in thousands)                        |   | Commercial Construction |    |   | Commercial Secured by Real Estate |   |    | Commercial Other |   |   | Equipment Lease Financing |   |   | Real Estate Construction |   |   | Real Estate Mortgage |   |   | Home Equity |   |   | Consumer Direct |   |   | Consumer Indirect |   |   | Total  |   |
|---------------------------------------|--------|-------------------------|---------|--------|-----------------------------------|--------|---------|------------------|--------|--------|---------------------------|--------|--------|--------------------------|--------|--------|----------------------|--------|--------|-------------|--------|--------|-----------------|--------|--------|-------------------|--------|--------|--------|--------|
|                                  |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |
| 2009                                  |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |
| Allowance for loan losses             |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |
| Balance, beginning of year            |   | $                       | 3,645   |   |                              | $      | 11,304  |             |   | $      | 5,782                     |   |   | $                        | 191    |   |                 | $      | 281    |        |   | $      | 2,616           |   |   | $                 | 422    |   |   | $      | 1,590 |   |   | $ | 4,990 |   |   | $ | 30,821 |   |
| Provision charged to expense          |   |                    | 2,967   |   |                              |   | 2,434   |             |   |   | 5,682                     |   |   |                     | 30     |   |                 |   | 333    |        |   |   | 1,151           |   |   |              | 238    |   |   |   | 768 |   |   |   | 3,865 |   |   |   | 17,468 |   |
| Losses charged off                    |   |                    | 3,435   |   |                              |   | 3,192   |             |   |   | 4,342                     |   |   |                     | 0      |   |                 |   | 330    |        |   |   | 858             |   |   |              | 223    |   |   |   | 1,892 |   |   |   | 4,587 |   |   |   | 18,859 |   |
| Recoveries                            |   |                    | 204     |   |                              |   | 415     |             |   |   | 350                       |   |   |                     | 0      |   |                 |   | 7      |        |   |   | 132             |   |   |              | 18     |   |   |   | 792 |   |   |   | 1,295 |   |   |   | 3,213 |   |
| Balance, end of year                  |   | $                       | 3,381   |   |                              | $      | 10,961  |             |   | $      | 7,472                     |   |   | $                        | 221    |   |                 | $      | 291    |        |   | $      | 3,041           |   |   | $                 | 455    |   |   | $      | 1,258 |   |   | $ | 5,563 |   |   | $ | 32,643 |   |
|                                  |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending balance:                       |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Individually evaluated for impairment |   | $                       | 3,104   |   |                              | $      | 2,060   |             |   | $      | 1,434                     |   |   | $                        | 0      |   |                 | $      | 0      |        |   | $      | 0               |   |   | $                 | 0      |   |   | $      | 0 |   |   | $ | 0 |   |   | $ | 6,598 |   |
| Collectively evaluated for impairment |   | $                       | 277     |   |                              | $      | 8,901   |             |   | $      | 6,038                     |   |   | $                        | 221    |   |                 | $      | 291    |        |   | $      | 3,041           |   |   | $                 | 455    |   |   | $      | 1,258 |   |   | $ | 5,563 |   |   | $ | 26,045 |   |
|                                  |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans:                                |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending balance:                       |   |                    |    |   |                              |   |    |             |   |   |                      |   |   |                     |   |   |                 |   |   |        |   |   |            |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Individually evaluated for impairment |   | $                       | 14,277  |   |                              | $      | 9,803   |             |   | $      | 7,932                     |   |   | $                        | 0      |   |                 | $      | 1,244  |        |   | $      | 3,781           |   |   | $                 | 618    |   |   | $      | 0 |   |   | $ | 0 |   |   | $ | 37,655 |   |
| Collectively evaluated for impairment |   | $                       | 127,163 |   |                              | $      | 697,697 |             |   | $      | 365,897                   |   |   | $                        | 20,048 |   |                 | $      | 50,067 |        |   | $      | 524,811         |   |   | $                 | 81,517 |   |   | $      | 115,555 |   |   | $ | 415,350 |   |   | $ | 2,398,105 |   |

| (in thousands)December 31                      |   | 2010   |    |   | 2009   |   |
|------------------------------------------------|--------|--------|---------|--------|--------|--------|
| Land and buildings                             |   | $      | 75,319  |   |   | $      | 67,785 |   |
| Leasehold improvements                         |   |   | 5,022   |   |   |   | 5,114 |   |
| Furniture, fixtures, and equipment             |   |   | 43,967  |   |   |   | 42,320 |   |
| Construction in progress                       |   |   | 928     |   |   |   | 50 |   |
|                                           |   |   | 125,236 |   |   |   | 115,269 |   |
| Less accumulated depreciation and amortization |   |   | (69,893 | )      |   |   | (66,027 | ) |
|                                           |   | $      | 55,343  |   |   | $      | 49,242 |   |

| (in thousands)                                                           |   | 2010   |   |   | 2009   |   |
|--------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Beginning balance                                                        |   | $      | 37,333 |   |   | $      | 10,425 |   |
| Transfers in at lower of cost or fair value less estimated costs to sell |   |   | 11,806 |   |   |   | 33,301 |   |
| Additional investment                                                    |   |   | 225    |   |   |   | 1,908 |   |
| Provision charged to expense                                             |   |   | (689   | )      |   |   | (1,350 | ) |
| Sale of assets                                                           |   |   | (8,466 | )      |   |   | (6,951 | ) |
| Properties acquired through acquisition                                  |   |   | 2,726  |   |   |   | 0 |   |
| Ending balance                                                           |   | $      | 42,935 |   |   | $      | 37,333 |   |

----

| (in thousands)December 31                                           |   | 2010   |      |   | 2009   |   |
|---------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|
| Noninterest bearing deposits                                        |   | $      | 525,478   |   |   | $      | 490,809 |   |
| NOW accounts                                                        |   |   | 33,641    |   |   |   | 17,389 |   |
| Money market deposits                                               |   |   | 450,289   |   |   |   | 422,458 |   |
| Savings                                                             |   |   | 229,466   |   |   |   | 215,792 |   |
| Certificates of deposit and other time deposits of $100,000 or more |   |   | 653,629   |   |   |   | 555,810 |   |
| Certificates of deposit and other time deposits less than $100,000  |   |   | 813,614   |   |   |   | 759,951 |   |
|                                                                |   | $      | 2,706,117 |   |   | $      | 2,462,209 |   |

| (in thousands)                                                      |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|---------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Savings, NOW, and money market accounts                             |   | $      | 3,074  |   |   | $      | 4,002  |   |   | $ | 7,885 |   |
| Certificates of deposit and other time deposits of $100,000 or more |   |   | 11,695 |   |   |   | 15,059 |   |   |   | 18,715 |   |
| Certificates of deposit and other time deposits less than $100,000  |   |   | 14,383 |   |   |   | 20,732 |   |   |   | 27,249 |   |
|                                                                |   | $      | 29,152 |   |   | $      | 39,793 |   |   | $ | 53,849 |   |

|                                                                |   | Maturities by Period at December 31, 2010 |      |
|---------------------------------------------------------------------|--------|-------------------------------------------|-----------|
| (in thousands)                                                      |   | Total                                     |      |   | Within 1 Year |   |   | 2 Years |   |   | 3 Years |   |   | 4 Years |   |   | 5 Years |   |   | After 5 Years |   |
| Certificates of deposit and other time deposits of $100,000 or more |   | $                                         | 653,629   |   |   | $ | 623,230 |   |   | $ | 19,520 |   |   | $ | 5,596 |   |   | $ | 3,570 |   |   | $ | 1,518 |   |   | $ | 195 |   |
| Certificates of deposit and other time deposits less than $100,000  |   |                                      | 813,614   |   |   |   | 739,675 |   |   |   | 40,959 |   |   |   | 12,225 |   |   |   | 4,656 |   |   |   | 3,990 |   |   |   | 12,109 |   |
|                                                                |   | $                                         | 1,467,243 |   |   | $ | 1,362,905 |   |   | $ | 60,479 |   |   | $ | 17,821 |   |   | $ | 8,226 |   |   | $ | 5,508 |   |   | $ | 12,304 |   |

| (in thousands)     |   | 2010   |   |   | 2009   |   |
|--------------------|--------|--------|--------|--------|--------|--------|
| Monthly amortizing |   | $      | 1,238  |   |   | $      | 671 |   |
| Term               |   |   | 20,000 |   |   |   | 20,000 |   |
|               |   | $      | 21,238 |   |   | $      | 20,671 |   |

|                                                               |   | Principal Payments Due by Period at December 31, 2010 |   |
|--------------------------------------------------------------------|--------|-------------------------------------------------------|--------|
| (in thousands)                                                     |   | Total                                                 |   |   | Within 1 Year |   |   | 2 Years |   |   | 3 Years |   |   | 4 Years |   |   | 5 Years |   |   | After 5 Years |   |
| Outstanding advances, weighted average interest rate – 3.51% |   | $                                                     | 1,238  |   |   | $ | 199 |   |   | $ | 159 |   |   | $ | 119 |   |   | $ | 97 |   |   | $ | 95 |   |   | $ | 569 |   |

|                                                               |   | Principal Payments Due by Period at December 31, 2009 |   |
|--------------------------------------------------------------------|--------|-------------------------------------------------------|--------|
| (in thousands)                                                     |   | Total                                                 |   |   | Within 1 Year |   |   | 2 Years |   |   | 3 Years |   |   | 4 Years |   |   | 5 Years |   |   | After 5 Years |   |
| Outstanding advances, weighted average interest rate – 3.76% |   | $                                                     | 671    |   |   | $ | 617 |   |   | $ | 8 |   |   | $ | 8 |   |   | $ | 8 |   |   | $ | 8 |   |   | $ | 22 |   |

| (in thousands)December 31        |   | 2010   |   |   | 2009   |   |
|----------------------------------|--------|--------|--------|--------|--------|--------|
| Advance #156, 0.43%, due 1/29/10 |   | $      | 0      |   |   | $      | 20,000 |   |
| Advance #158, 0.37%, due 1/24/11 |   |   | 20,000 |   |   |   | 0 |   |
|                             |   | $      | 20,000 |   |   | $      | 20,000 |   |

| (in thousands)December 31 |   | 2010   |    |   | 2009   |   |
|---------------------------|--------|--------|---------|--------|--------|--------|
| Subsidiaries:             |   |   |    |   |   |   |
| Repurchase agreements     |   | $      | 188,275 |   |   | $      | 180,471 |   |
| Federal funds purchased   |   |   | 9,680   |   |   |   | 12,205 |   |
|                      |   | $      | 197,955 |   |   | $      | 192,676 |   |

----

| (in thousands)December 31                         |   | 2010   |   |   | 2009   |   |
|---------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Parent:                                           |   |   |   |   |   |   |
| Junior subordinated debentures, 6.52%, due 6/1/37 |   | $      | 61,341 |   |   | $      | 61,341 |   |

| (in thousands)        |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|-----------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Current income taxes  |   | $      | 14,393 |   |   | $      | 7,684  |   |   | $ | 14,121 |   |
| Deferred income taxes |   |   | 219    |   |   |   | 2,918  |   |   |   | (5,774 | ) |
|                  |   | $      | 14,612 |   |   | $      | 10,602 |   |   | $ | 8,347 |   |

| (in thousands)                  |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|---------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Computed at the statutory rate  |   | $      | 16,818 |   |   |   | 35.71  | %      |   | $ | 12,577 |   |   |   | 35.41 | % |   | $ | 10,898 |   |   |   | 34.52 | % |
| Decrease resulting from         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tax-exempt interest             |   |   | (806   | )      |   |   | (1.71  | )      |   |   | (739 | ) |   |   | (2.08 | ) |   |   | (771 | ) |   |   | (2.44 | ) |
| Housing and new markets credits |   |   | (507   | )      |   |   | (1.08  | )      |   |   | (654 | ) |   |   | (1.84 | ) |   |   | (532 | ) |   |   | (1.68 | ) |
| Dividends received deduction    |   |   | (172   | )      |   |   | (0.36  | )      |   |   | (188 | ) |   |   | (0.53 | ) |   |   | (422 | ) |   |   | (1.34 | ) |
| Bank owned life insurance       |   |   | (477   | )      |   |   | (1.01  | )      |   |   | (342 | ) |   |   | (0.96 | ) |   |   | (277 | ) |   |   | (0.88 | ) |
| Other, net                      |   |   | (244   | )      |   |   | (0.52  | )      |   |   | (52 | ) |   |   | (0.15 | ) |   |   | (549 | ) |   |   | (1.74 | ) |
| Total                           |   | $      | 14,612 |   |   |   | 31.03  | %      |   | $ | 10,602 |   |   |   | 29.85 | % |   | $ | 8,347 |   |   |   | 26.44 | % |

| (in thousands)                        |   | 2010   |    |   | 2009   |   |
|---------------------------------------|--------|--------|---------|--------|--------|--------|
| Deferred tax assets                   |   |   |    |   |   |   |
| Allowance for loan and lease losses   |   | $      | 12,852  |   |   | $      | 11,425 |   |
| Interest on nonperforming loans       |   |   | 1,427   |   |   |   | 1,264 |   |
| Accrued expenses                      |   |   | 582     |   |   |   | 310 |   |
| Dealer reserve valuation              |   |   | 1,119   |   |   |   | 1,213 |   |
| Allowance for other real estate owned |   |   | 1,755   |   |   |   | 1,213 |   |
| Write-down of auction rate securities |   |   | 4,162   |   |   |   | 3,006 |   |
| Other                                 |   |   | 688     |   |   |   | 403 |   |
| Total deferred tax assets             |   |   | 22,585  |   |   |   | 18,834 |   |
|                                  |   |   |    |   |   |   |   |   |
| Deferred tax liabilities              |   |   |    |   |   |   |   |   |
| Depreciation and amortization         |   |   | (14,624 | )      |   |   | (13,461 | ) |
| FHLB stock dividends                  |   |   | (4,985  | )      |   |   | (4,767 | ) |
| Loan fee income                       |   |   | (1,288  | )      |   |   | (1,037 | ) |
| Mortgage servicing rights             |   |   | (1,106  | )      |   |   | (1,192 | ) |
| Capitalized lease obligations         |   |   | (2,275  | )      |   |   | (2,436 | ) |
| Unrealized gains on AFS securities    |   |   | (2,710  | )      |   |   | (2,268 | ) |
| Purchase accounting adjustments       |   |   | (354    | )      |   |   | 0 |   |
| Other                                 |   |   | (1,460  | )      |   |   | (794 | ) |
| Total deferred tax liabilities        |   |   | (28,802 | )      |   |   | (25,955 | ) |
|                                  |   |   |    |   |   |   |   |   |
| Net deferred tax liability            |   | $      | (6,217  | )      |   | $      | (7,121 | ) |

| (in thousands)                                           |   | 2010   |   |   | 2009   |   |
|----------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Balance at January 1                                     |   | $      | 409    |   |   | $      | 662 |   |
| Additions based on tax positions related to current year |   |   |   |   |   |   | 70 |   |
| Additions for tax positions of prior years               |   |   | 20     |   |   |   | 16 |   |
| Reductions for tax positions of prior years              |   |   | (266   | )      |   |   | (339 | ) |
| Balance at December 31                                   |   | $      | 163    |   |   | $      | 409 |   |

| Plan Category (shares in thousands)                | Number of Shares to Be Issued Upon Exercise/Vesting |  Weighted Average Price | Shares Available for Future Issuance |
|----------------------------------------------------|-----------------------------------------------------|------------------------------|--------------------------------------|
| Equity compensation plans approved by shareholders |                                                |                         |                                 |
|                                               | Stock options                                       | 548                          | $29.50                               |   1,421 (a) |
|                                               | Restricted stock                                    | 53 (c)                       |  26.10                          | (a) |
|                                               | Performance units                                   | (d)                          | (b)                                  | (a) |
|                                               | Stock appreciation rights (“SARs”)      | (e)                          | (b)                                  | (a) |
| Total                                              |                                                |                         | 1,421                                |

| (a)   | Under the 2006 Plan, 1.5 million shares (plus any shares reserved for issuance under the 1998 Stock Option Plan) were authorized for issuance as nonqualified and incentive stock options, SARS, restricted stock and performance units.  As of December 31, 2010, the above shares remained available for issuance. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Not applicable |
|-----------------|----------------|

| (c)   | The maximum number of shares of Restricted Stock that may be granted is 400,000 shares, and the maximum that may be granted to a participant during any calendar year is 40,000 shares. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | No performance units have been issued.  The maximum payment that can be made pursuant to Performance Units granted to any one Participant in any calendar year shall be $250,000. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | No SARS have been issued.  The maximum number of shares with respect to which SARs may be granted to a Participant during any calendar year shall be 100,000 shares. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Plan Category (shares in thousands)          |   | Shares Available for Future Issuance |      |
|----------------------------------------------|--------|--------------------------------------|-----------|
| Shares available at January 1, 2010          |   |                                 | 1,462,823 |   |
| 1998 Plan forfeitures in 2010                |   |                                 | 924       |   |
| 2006 Plan stock option issuances in 2010     |   |                                 | (3,525    | ) |
| 2006 Plan restricted stock issuances in 2010 |   |                                 | (45,996   | ) |
| 2006 Plan forfeitures in 2010                |   |                                 | 6,552     |   |
| Shares available for future issuance         |   |                                 | 1,420,778 |   |

|                            |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|---------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Expected option life (in years) |   |   | 7.5    |   |   |   | 7.5    |   |   |   | 7.5 |   |
| Expected volatility             |   |   | 0.391  |   |   |   | 0.371  |   |   |   | 0.310 |   |
| Expected dividend yield         |   |   | 4.78   | %      |   |   | 4.02   | %      |   |   | 4.10 | % |
| Risk-free interest rate         |   |   | 3.139  | %      |   |   | 2.23   | %      |   |   | 3.23 | % |

| December 31                      |   | 2010    |    |   | 2009                            |   |   | 2008    |   |
|----------------------------------|--------|---------|---------|--------|---------------------------------|--------|--------|---------|--------|
|                             |   | Options |    |   | Weighted Average Exercise Price |   |   | Options |   |   | Weighted Average Exercise Price |   |   | Options |   |   | Weighted Average Exercise Price |   |
| Outstanding at beginning of year |   |    | 174,678 |   |                            | $      | 34.85  |    |   |   | 165,678 |   |   | $ | 35.12 |   |   |   | 107,595 |   |   | $ | 38.95 |   |
| Granted                          |   |    | 4,525   |   |                            |   | 25.09  |    |   |   | 9,000 |   |   |   | 29.82 |   |   |   | 63,700 |   |   |   | 28.32 |   |
| Exercised                        |   |    | 0       |   |                            |   | --     |    |   |   | 0 |   |   |   | -- |   |   |   | 0 |   |   |   | -- |   |
| Forfeited/expired                |   |    | 2,078   |   |                            |   | 33.83  |    |   |   | 0 |   |   |   | -- |   |   |   | (5,617 | ) |   |   | 31.38 |   |
| Outstanding at end of year       |   |    | 177,125 |   |                            | $      | 34.61  |    |   |   | 174,678 |   |   | $ | 34.85 |   |   |   | 165,678 |   |   | $ | 35.12 |   |
|                             |   |    |    |   |                            |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Exercisable at end of year       |   |    | 90,962  |   |                            | $      | 37.70  |    |   |   | 55,717 |   |   | $ | 38.43 |   |   |   | 26,488 |   |   | $ | 38.95 |   |

| Nonvested Shares               |   | Shares |    |   | Weighted Average Grant Date Fair Value |   |
|--------------------------------|--------|--------|---------|--------|----------------------------------------|--------|
| Nonvested at January 1, 2010   |   |   | 118,961 |   |                                   | $      | 9.33 |   |
| Granted                        |   |   | 4,525   |   |                                   |   | 6.53 |   |
| Vested                         |   |   | (35,245 | )      |                                   |   | 11.52 |   |
| Forfeited                      |   |   | 2,078   |   |                                   |   | 9.69 |   |
| Nonvested at December 31, 2010 |   |   | 86,163  |   |                                   | $      | 8.35 |   |

| 2006 Option Plan       |   |
|------------------------|--------|
| Remaining Life         |   | Outstanding Options |   |   | Weighted Average Price |   |
| Six years              |   |   | 104,900 |   |   | $ | 38.95 |   |
| Seven years            |   |   | 58,700 |   |   |   | 28.32 |   |
| Eight years            |   |   | 9,000 |   |   |   | 29.82 |   |
| Nine years             |   |   | 4,525 |   |   |   | 25.09 |   |
| Total outstanding      |   |   | 177,125 |   |   |   |   |   |
| Weighted average price |   |   |   |   |   | $ | 34.61 |   |

| December 31                      |   | 2010   |   |   | 2009                            |   |   | 2008   |   |
|----------------------------------|--------|--------|--------|--------|---------------------------------|--------|--------|--------|--------|
|                             |   | Grants |   |   | WeightedAverage Fair Value |   |   | Grants |   |   | WeightedAverage Fair Value |   |   | Grants |   |   | WeightedAverage FairValue |   |
| Outstanding at beginning of year |   |   | 16,786 |   |                            | $      | 28.83  |   |   |   | 11,076 |   |   | $ | 28.32 |   |   |   | 0 |   |   | $ | -- |   |
| Granted                          |   |   | 44,996 |   |                            |   | 25.09  |   |   |   | 5,710 |   |   |   | 29.82 |   |   |   | 11,076 |   |   |   | 28.32 |   |
| Exercised                        |   |   | (4,474 | )      |                            |   | 26.14  |   |   |   | 0 |   |   |   | -- |   |   |   | 0 |   |   |   | -- |   |
| Forfeited/expired                |   |   | (4,474 | )      |                            |   | 26.14  |   |   |   | 0 |   |   |   | -- |   |   |   | 0 |   |   |   | -- |   |
| Outstanding at end of year       |   |   | 52,834 |   |                            | $      | 26.10  |   |   |   | 16,786 |   |   | $ | 28.83 |   |   |   | 11,076 |   |   | $ | 28.32 |   |
|                             |   |   |   |   |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Exercisable at end of year       |   |   | 0      |   |                            | $      | --     |   |   |   | 0 |   |   | $ | -- |   |   |   | 0 |   |   | $ | -- |   |

| December 31                      |   | 2010    |    |   | 2009                            |   |   | 2008    |   |
|----------------------------------|--------|---------|---------|--------|---------------------------------|--------|--------|---------|--------|
|                             |   | Options |    |   | Weighted Average Exercise Price |   |   | Options |   |   | Weighted Average Exercise Price |   |   | Options |   |   | Weighted Average Exercise Price |   |
| Outstanding at beginning of year |   |    | 420,731 |   |                            | $      | 25.64  |    |   |   | 500,454 |   |   | $ | 23.91 |   |   |   | 581,413 |   |   | $ | 23.52 |   |
| Granted                          |   |    | 0       |   |                            |   | --     |    |   |   | 0 |   |   |   | -- |   |   |   | 0 |   |   |   | -- |   |
| Exercised                        |   |    | (48,730 | )      |                            |   | 14.66  |    |   |   | (79,723 | ) |   |   | 14.75 |   |   |   | (77,983 | ) |   |   | 20.79 |   |
| Forfeited/expired                |   |    | (924    | )      |                            |   | 32.44  |    |   |   | 0 |   |   |   | -- |   |   |   | (2,976 | ) |   |   | 31.54 |   |
| Outstanding at end of year       |   |    | 371,077 |   |                            | $      | 27.07  |    |   |   | 420,731 |   |   | $ | 25.64 |   |   |   | 500,454 |   |   | $ | 23.91 |   |
|                             |   |    |    |   |                            |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Exercisable at end of year       |   |    | 361,077 |   |                            | $      | 26.92  |    |   |   | 386,498 |   |   | $ | 25.03 |   |   |   | 350,113 |   |   | $ | 21.24 |   |

| 1998 Option Plan       |   |
|------------------------|--------|
| Remaining Life         |   | Outstanding Options |   |   | Weighted Average Price |   |
| One year               |   |   | 0 |   |   | $ | -- |   |
| Two years              |   |   | 80,817 |   |   |   | 18.98 |   |
| Three years            |   |   | 39,888 |   |   |   | 20.99 |   |
| Four years             |   |   | 70,950 |   |   |   | 27.82 |   |
| Five years             |   |   | 79,112 |   |   |   | 30.88 |   |
| Six years              |   |   | 100,310 |   |   |   | 32.44 |   |
| Total outstanding      |   |   | 371,077 |   |   |   |   |   |
| Weighted average price |   |   |   |   |   | $ | 27.06 |   |

| (in thousands)      |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|---------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Options exercised   |   | $      | 627    |   |   | $      | 1,017  |   |   | $ | 1,051 |   |
| Options exercisable |   |   | 1,206  |   |   |   | 1,057  |   |   |   | 5,429 |   |
| Outstanding options |   |   | 1,206  |   |   |   | 1,057  |   |   |   | 6,430 |   |

| Nonvested Shares               |   | Shares |   |   | Weighted Average Grant Date Fair Value |   |
|--------------------------------|--------|--------|--------|--------|----------------------------------------|--------|
| Nonvested at January 1, 2010   |   |   | 34,233 |   |                                   | $      | 10.51 |   |
| Granted                        |   |   | 0      |   |                                   |   | -- |   |
| Vested                         |   |   | 23,309 |   |                                   |   | 10.51 |   |
| Forfeited                      |   |   | 924    |   |                                   |   | 10.51 |   |
| Nonvested at December 31, 2010 |   |   | 10,000 |   |                                   | $      | 10.51 |   |

| (in thousands) |   | Payments |   |   | Receipts |   |
|----------------|--------|----------|--------|--------|----------|--------|
| 2011           |   | $        | 1,653  |   |     | $      | 567 |   |
| 2012           |   |     | 1,332  |   |     |   | 286 |   |
| 2013           |   |     | 1,175  |   |     |   | 66 |   |
| 2014           |   |     | 733    |   |     |   | 26 |   |
| 2015           |   |     | 532    |   |     |   | 3 |   |
| Thereafter     |   |     | 3,023  |   |     |   | 0 |   |
|           |   | $        | 8,448  |   |     | $      | 948 |   |

| (in thousands)                                |   |                      |    |   | Fair Value Measurements atDecember 31, 2010 Using             |   |
|-----------------------------------------------|--------|---------------------------|---------|--------|---------------------------------------------------------------|--------|
|                                          |   | Fair ValueDecember 312010 |    |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Available-for-sale securities:                |   |                      |    |   |                                                          |   |   |   |   |   |   |   |
| U.S. Treasury and government agencies         |   | $                         | 29,254  |   |                                                          | $      | 0 |   |   | $ | 29,254 |   |   | $ | 0 |   |
| State and political subdivisions              |   |                      | 51,865  |   |                                                          |   | 0 |   |   |   | 51,865 |   |   |   | 0 |   |
| U.S. government sponsored agencies            |   |                      | 237,243 |   |                                                          |   | 0 |   |   |   | 237,243 |   |   |   | 0 |   |
| Marketable equity securities                  |   |                      | 20,313  |   |                                                          |   | 0 |   |   |   | 20,102 |   |   |   | 211 |   |
| Mortgage servicing rights                     |   |                      | 3,161   |   |                                                          |   | 0 |   |   |   | 0 |   |   |   | 3,161 |   |
| Total recurring assets measured at fair value |   | $                         | 341,836 |   |                                                          | $      | 0 |   |   | $ | 338,464 |   |   | $ | 3,372 |   |

| (in thousands)                                |   |                      |    |   | Fair Value Measurements atDecember 31, 2009 Using             |   |
|-----------------------------------------------|--------|---------------------------|---------|--------|---------------------------------------------------------------|--------|
|                                          |   | Fair ValueDecember 312009 |    |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Available-for-sale securities:                |   |                      |    |   |                                                          |   |   |   |   |   |   |   |
| U.S. Treasury and government agencies         |   | $                         | 16,731  |   |                                                          | $      | 0 |   |   | $ | 16,731 |   |   | $ | 0 |   |
| State and political subdivisions              |   |                      | 45,657  |   |                                                          |   | 0 |   |   |   | 45,657 |   |   |   | 0 |   |
| U.S. government sponsored agencies            |   |                      | 187,397 |   |                                                          |   | 0 |   |   |   | 187,397 |   |   |   | 0 |   |
| Marketable equity securities                  |   |                      | 20,452  |   |                                                          |   | 0 |   |   |   | 20,241 |   |   |   | 211 |   |
| Mortgage servicing rights                     |   |                      | 3,406   |   |                                                          |   | 0 |   |   |   | 0 |   |   |   | 3,406 |   |
| Total recurring assets measured at fair value |   | $                         | 273,643 |   |                                                          | $      | 0 |   |   | $ | 270,026 |   |   | $ | 3,617 |   |

| Marketable Equity Securities (in thousands) |   | 2010   |   |   | 2009   |   |
|--------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Beginning balance, January 1                     |   | $      | 211    |   |   | $      | 540 |   |
| Total realized and unrealized gains and losses   |   |   |   |   |   |   |   |   |
| Included in net income                           |   |   | 0      |   |   |   | 0 |   |
| Transfer of securities from Level 3 to Level 2   |   |   | 0      |   |   |   | 0 |   |
| Purchases, issuances, and settlements            |   |   | 0      |   |   |   | (329 | ) |
| Ending balance, December 31                      |   | $      | 211    |   |   | $      | 211 |   |

| Mortgage Servicing Rights (in thousands)  |   | 2010   |   |   | 2009   |   |
|------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Beginning balance                              |   | $      | 3,406  |   |   | $      | 2,168 |   |
| Total realized and unrealized gains and losses |   |   |   |   |   |   |   |   |
| Included in net income                         |   |   | (418   | )      |   |   | 608 |   |
| Issuances                                      |   |   | 524    |   |   |   | 1345 |   |
| Settlements                                    |   |   | (351   | )      |   |   | (715 | ) |
| Ending balance                                 |   | $      | 3,161  |   |   | $      | 3,406 |   |

----

| (in thousands)                 |   |                      | Fair Value Measurements atDecember 31, 2010 Using |   |
|--------------------------------|--------|---------------------------|---------------------------------------------------|--------|
|                           |   | Fair ValueDecember 312010 |                                              |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Impaired loans                 |   | $                         | 16,589                                            |   |   | $ | 0 |   |   | $ | 0 |   |   | $ | 16,589 |   |
| Other real estate/assets owned |   |                      | 4,579                                             |   |   |   | 0 |   |   |   | 0 |   |   |   | 4,579 |   |

| (in thousands)                 |   |                      | Fair Value Measurements atDecember 31, 2009 Using |   |
|--------------------------------|--------|---------------------------|---------------------------------------------------|--------|
|                           |   | Fair ValueDecember 312009 |                                              |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Impaired loans                 |   | $                         | 8,387                                             |   |   | $ | 0 |   |   | $ | 0 |   |   | $ | 8,387 |   |
| Other real estate/assets owned |   |                      | 8,331                                             |   |   |   | 0 |   |   |   | 0 |   |   |   | 8,331 |   |

| (in thousands)December 31              |   | 2010            |      |   | 2009                 |   |
|----------------------------------------|--------|-----------------|-----------|--------|----------------------|--------|
|                                   |   | Carrying Amount |      |   | Estimated Fair Value |   |   | Carrying Amount |   |   | Estimated Fair Value |   |
| Financial assets                       |   |            |      |   |                 |   |   |   |   |   |   |   |
| Cash and cash equivalents              |   | $               | 158,983   |   |                 | $      | 158,983 |   |   | $ | 142,129 |   |   | $ | 142,129 |   |
| Certificates of deposit in other banks |   |            | 14,762    |   |                 |   | 14,775 |   |   |   | 100 |   |   |   | 100 |   |
| Securities available-for-sale          |   |            | 338,675   |   |                 |   | 338,675 |   |   |   | 270,237 |   |   |   | 270,237 |   |
| Securities held-to-maturity            |   |            | 1,662     |   |                 |   | 1,662 |   |   |   | 14,336 |   |   |   | 14,435 |   |
| Loans, net (including impaired loans)  |   |            | 2,570,375 |   |                 |   | 2,582,596 |   |   |   | 2,403,117 |   |   |   | 2,407,703 |   |
| Loans held for sale                    |   |            | 455       |   |                 |   | 462 |   |   |   | 1,818 |   |   |   | 1,845 |   |
| Federal Home Loan Bank stock           |   |            | 25,673    |   |                 |   | 25,673 |   |   |   | 24,700 |   |   |   | 24,700 |   |
| Federal Reserve Bank stock             |   |            | 4,434     |   |                 |   | 4,434 |   |   |   | 4,348 |   |   |   | 4,348 |   |
| Accrued interest receivable            |   |            | 12,574    |   |                 |   | 12,574 |   |   |   | 11,936 |   |   |   | 11,936 |   |
| Capitalized mortgage servicing rights  |   |            | 3,161     |   |                 |   | 3,161 |   |   |   | 3,406 |   |   |   | 3,406 |   |
|                                   |   |            |      |   |                 |   |   |   |   |   |   |   |   |   |   |   |
| Financial liabilities                  |   |            |      |   |                 |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                               |   | $               | 2,706,117 |   |                 | $      | 2,690,960 |   |   | $ | 2,462,209 |   |   | $ | 2,462,676 |   |
| Repurchase agreements                  |   |            | 188,275   |   |                 |   | 186,989 |   |   |   | 180,471 |   |   |   | 180,776 |   |
| Federal funds purchased                |   |            | 9,680     |   |                 |   | 9,680 |   |   |   | 12,205 |   |   |   | 12,205 |   |
| Advances from Federal Home Loan Bank   |   |            | 21,238    |   |                 |   | 21,213 |   |   |   | 20,671 |   |   |   | 20,670 |   |
| Long-term debt                         |   |            | 61,341    |   |                 |   | 30,894 |   |   |   | 61,341 |   |   |   | 29,522 |   |
| Accrued interest payable               |   |            | 2,848     |   |                 |   | 2,848 |   |   |   | 3,686 |   |   |   | 3,686 |   |
|                                   |   |            |      |   |                 |   |   |   |   |   |   |   |   |   |   |   |
| Unrecognized financial instruments     |   |            |      |   |                 |   |   |   |   |   |   |   |   |   |   |   |
| Letters of credit                      |   | $               | 0         |   |                 | $      | 0 |   |   | $ | 0 |   |   | $ | 0 |   |
| Commitments to extend credit           |   |            | 0         |   |                 |   | 0 |   |   |   | 0 |   |   |   | 0 |   |

| (in thousands)               |   | 2010   |    |   | 2009   |   |
|------------------------------|--------|--------|---------|--------|--------|--------|
| Standby letters of credit    |   | $      | 54,690  |   |   | $      | 58,641 |   |
| Commitments to extend credit |   |   | 376,858 |   |   |   | 366,461 |   |
| Total                        |   | $      | 431,548 |   |   | $      | 425,102 |   |

----

|                      |   | Actual |    |   | For Capital Adequacy Purposes |   |   | To Be Well-Capitalized Under Prompt Corrective Action Provision |   |
|---------------------------|--------|--------|---------|--------|-------------------------------|--------|--------|-----------------------------------------------------------------|--------|
| (in thousands)            |   | Amount |    |   | Ratio                         |   |   | Amount                                                          |   |   | Ratio |   |   | Amount |   |   | Ratio |   |
| As of December 31, 2010:  |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |
| Tier 1 capital            |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |
| (to average assets)       |   | $      | 326,896 |   |                          |   | 10.15  | %                                                               |   | $ | 128,826 |   |   |   | 4.00 | % |   | $ | 161,033 |   |   |   | 5.00 | % |
| Tier 1 capital            |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to risk weighted assets) |   |   | 326,896 |   |                          |   | 12.90  |                                                            |   |   | 101,363 |   |   |   | 4.00 |   |   |   | 152,045 |   |   |   | 6.00 |   |
| Total capital             |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to risk weighted assets) |   |   | 357,147 |   |                          |   | 14.10  |                                                            |   |   | 202,637 |   |   |   | 8.00 |   |   |   | 253,296 |   |   |   | 10.00 |   |
|                      |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| As of December 31, 2009:  |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tier 1 capital            |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to average assets)       |   | $      | 310,640 |   |                          |   | 10.38  | %                                                               |   | $ | 119,707 |   |   |   | 4.00 | % |   | $ | 149,634 |   |   |   | 5.00 | % |
| Tier 1 capital            |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to risk weighted assets) |   |   | 310,640 |   |                          |   | 12.90  |                                                            |   |   | 96,322 |   |   |   | 4.00 |   |   |   | 144,484 |   |   |   | 6.00 |   |
| Total capital             |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to risk weighted assets) |   |   | 340,717 |   |                          |   | 14.15  |                                                            |   |   | 192,632 |   |   |   | 8.00 |   |   |   | 240,789 |   |   |   | 10.00 |   |

|                      |   | Actual |    |   | For Capital Adequacy Purposes |   |   | To Be Well-Capitalized Under Prompt Corrective Action Provision |   |
|---------------------------|--------|--------|---------|--------|-------------------------------|--------|--------|-----------------------------------------------------------------|--------|
| (in thousands)            |   | Amount |    |   | Ratio                         |   |   | Amount                                                          |   |   | Ratio |   |   | Amount |   |   | Ratio |   |
| As of December 31, 2010:  |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |
| Tier 1 capital            |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |
| (to average assets)       |   | $      | 298,614 |   |                          |   | 9.58   | %                                                               |   | $ | 124,682 |   |   |   | 4.00 | % |   | $ | 155,853 |   |   |   | 5.00 | % |
| Tier 1 capital            |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to risk weighted assets) |   |   | 298,614 |   |                          |   | 12.36  |                                                            |   |   | 96,639 |   |   |   | 4.00 |   |   |   | 144,958 |   |   |   | 6.00 |   |
| Total capital             |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to risk weighted assets) |   |   | 328,865 |   |                          |   | 13.62  |                                                            |   |   | 193,166 |   |   |   | 8.00 |   |   |   | 241,457 |   |   |   | 10.00 |   |
|                      |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| As of December 31, 2009:  |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tier 1 capital            |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to average assets)       |   | $      | 298,257 |   |                          |   | 9.99   | %                                                               |   | $ | 119,422 |   |   |   | 4.00 | % |   | $ | 149,278 |   |   |   | 5.00 | % |
| Tier 1 capital            |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to risk weighted assets) |   |   | 298,257 |   |                          |   | 12.41  |                                                            |   |   | 96,134 |   |   |   | 4.00 |   |   |   | 144,202 |   |   |   | 6.00 |   |
| Total capital             |   |   |    |   |                          |   |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (to risk weighted assets) |   |   | 328,334 |   |                          |   | 13.66  |                                                            |   |   | 192,289 |   |   |   | 8.00 |   |   |   | 240,362 |   |   |   | 10.00 |   |

| (in thousands)December 31                        |   | 2010   |    |   | 2009   |   |
|--------------------------------------------------|--------|--------|---------|--------|--------|--------|
| Assets:                                          |   |   |    |   |   |   |
| Cash on deposit                                  |   | $      | 5,805   |   |   | $      | 5,949 |   |
| Investment in and advances to subsidiaries       |   |   | 393,400 |   |   |   | 374,169 |   |
| Goodwill                                         |   |   | 4,973   |   |   |   | 4,973 |   |
| Premises and equipment, net                      |   |   | 85      |   |   |   | 34 |   |
| Other assets                                     |   |   | 893     |   |   |   | 2,688 |   |
| Total assets                                     |   | $      | 405,156 |   |   | $      | 387,813 |   |
|                                             |   |   |    |   |   |   |   |   |
| Liabilities and shareholders’ equity:      |   |   |    |   |   |   |   |   |
| Long-term debt                                   |   | $      | 61,341  |   |   | $      | 61,341 |   |
| Other liabilities                                |   |   | 5,177   |   |   |   | 5,015 |   |
| Total liabilities                                |   |   | 66,518  |   |   |   | 66,356 |   |
|                                             |   |   |    |   |   |   |   |   |
| Shareholders’ equity                       |   |   | 338,638 |   |   |   | 321,457 |   |
|                                             |   |   |    |   |   |   |   |   |
| Total liabilities and shareholders’ equity |   | $      | 405,156 |   |   | $      | 387,813 |   |

| (in thousands)Year Ended December 31                                          |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|-------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Income:                                                                       |   |   |   |   |   |   |   |   |   |
| Dividends from subsidiary banks                                               |   | $      | 34,620 |   |   | $      | 18,620 |   |   | $ | 20,620 |   |
| Other income                                                                  |   |   | 34     |   |   |   | 24     |   |   |   | 41 |   |
| Total income                                                                  |   |   | 34,654 |   |   |   | 18,644 |   |   |   | 20,661 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                                              |   |   | 3,999  |   |   |   | 3,999  |   |   |   | 4,000 |   |
| Depreciation expense                                                          |   |   | 25     |   |   |   | 12     |   |   |   | 0 |   |
| Other expenses                                                                |   |   | 1,557  |   |   |   | 1,190  |   |   |   | 1,084 |   |
| Total expenses                                                                |   |   | 5,581  |   |   |   | 5,201  |   |   |   | 5,084 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Income before income taxes and equity in undistributed income of subsidiaries |   |   | 29,073 |   |   |   | 13,443 |   |   |   | 15,577 |   |
| Income tax benefit                                                            |   |   | (2,145 | )      |   |   | (2,002 | )      |   |   | (1,725 | ) |
| Income before equity in undistributed income of subsidiaries                  |   |   | 31,218 |   |   |   | 15,445 |   |   |   | 17,302 |   |
| Equity in undistributed income of subsidiaries                                |   |   | 1,816  |   |   |   | 9,614  |   |   |   | 5,771 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                    |   | $      | 33,034 |   |   | $      | 25,059 |   |   | $ | 23,073 |   |

----

| (in thousands)Year Ended December 31                                              |   | 2010   |    |   | 2009   |   |    | 2008   |   |
|-----------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
| Cash flows from operating activities:                                             |   |   |    |   |   |   |    |   |   |
| Net income                                                                        |   | $      | 33,034  |   |   | $      | 25,059  |   |   | $ | 23,073 |   |
| Adjustments to reconcile net income to net cash provided by operating activities: |   |   |    |   |   |   |    |   |   |   |   |   |
| Depreciation                                                                      |   |   | 47      |   |   |   | 12      |   |   |   | 0 |   |
| Equity in undistributed earnings of subsidiaries                                  |   |   | (1,816  | )      |   |   | (9,614  | )      |   |   | (5,771 | ) |
| Restricted stock expense                                                          |   |   | 393     |   |   |   | 70      |   |   |   | 41 |   |
| Excess tax benefit of stock-based compensation                                    |   |   | 205     |   |   |   | 391     |   |   |   | 330 |   |
| Dividends on restricted stock                                                     |   |   | 74      |   |   |   | 20      |   |   |   | 13 |   |
| Changes in:                                                                       |   |   |    |   |   |   |    |   |   |   |   |   |
| Other assets                                                                      |   |   | 1,795   |   |   |   | (2,432  | )      |   |   | (101 | ) |
| Other liabilities                                                                 |   |   | 601     |   |   |   | 3,477   |   |   |   | 1,083 |   |
| Net cash provided by operating activities                                         |   |   | 34,333  |   |   |   | 16,983  |   |   |   | 18,668 |   |
|                                                                              |   |   |    |   |   |   |    |   |   |   |   |   |
| Cash flows from investing activities:                                             |   |   |    |   |   |   |    |   |   |   |   |   |
| Purchase of premises and equipment                                                |   |   | (98     | )      |   |   | (46     | )      |   |   | 0 |   |
| Repayment of investments in and advances to subsidiaries                          |   |   | (411    | )      |   |   | (466    | )      |   |   | (1,158 | ) |
| Additional investment in subsidiaries                                             |   |   | (17,306 | )      |   |   | 0       |   |   |   | 0 |   |
| Net cash used in investing activities                                             |   |   | (17,815 | )      |   |   | (512    | )      |   |   | (1,158 | ) |
|                                                                              |   |   |    |   |   |   |    |   |   |   |   |   |
| Cash flows from financing activities:                                             |   |   |    |   |   |   |    |   |   |   |   |   |
| Issuance of common stock                                                          |   |   | 1,992   |   |   |   | 2,292   |   |   |   | 2,731 |   |
| Purchase of common stock                                                          |   |   | 0       |   |   |   | 0       |   |   |   | (2,631 | ) |
| Vesting of restricted stock                                                       |   |   | (117    | )      |   |   | 0       |   |   |   | 0 |   |
| Excess tax benefit of stock-based compensation                                    |   |   | (205    | )      |   |   | (391    | )      |   |   | (330 | ) |
| Dividends paid                                                                    |   |   | (18,332 | )      |   |   | (18,124 | )      |   |   | (17,402 | ) |
| Net cash used in financing activities                                             |   |   | (16,662 | )      |   |   | (16,223 | )      |   |   | (17,632 | ) |
|                                                                              |   |   |    |   |   |   |    |   |   |   |   |   |
| Net increase (decrease) in cash and cash equivalents                              |   |   | (144    | )      |   |   | 248     |   |   |   | (122 | ) |
| Cash and cash equivalents at beginning of year                                    |   |   | 5,949   |   |   |   | 5,701   |   |   |   | 5,823 |   |
| Cash and cash equivalents at end of year                                          |   | $      | 5,805   |   |   | $      | 5,949   |   |   | $ | 5,701 |   |

| Year Ended December 31                        |   | 2010   |       |   | 2009   |   |       | 2008   |   |
|-----------------------------------------------|--------|--------|------------|--------|--------|--------|------------|--------|--------|
| Numerator:                                    |   |   |       |   |   |   |       |   |   |
| Net income (in thousands)                     |   | $      | 33,034     |   |   | $      | 25,059     |   |   | $ | 23,073 |   |
|                                          |   |   |       |   |   |   |       |   |   |   |   |   |
| Denominator:                                  |   |   |       |   |   |   |       |   |   |   |   |   |
| Basic earnings per share:                     |   |   |       |   |   |   |       |   |   |   |   |   |
| Weighted average shares                       |   |   | 15,233,858 |   |   |   | 15,128,777 |   |   |   | 15,016,606 |   |
| Diluted earnings per share:                   |   |   |       |   |   |   |       |   |   |   |   |   |
| Effect of dilutive securities - stock options |   |   | 24,936     |   |   |   | 40,137     |   |   |   | 143,796 |   |
| Adjusted weighted average shares              |   |   | 15,258,794 |   |   |   | 15,168,914 |   |   |   | 15,160,402 |   |
|                                          |   |   |       |   |   |   |       |   |   |   |   |   |
| Earnings per share:                           |   |   |       |   |   |   |       |   |   |   |   |   |
| Basic earnings per share                      |   | $      | 2.17       |   |   | $      | 1.66       |   |   | $ | 1.54 |   |
| Diluted earnings per share                    |   |   | 2.16       |   |   |   | 1.65       |   |   |   | 1.52 |   |

| (in thousands)                                                                     |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Reclassification adjustment, pretax:                                               |   |   |   |   |   |   |   |   |   |
| Change in unrealized net gains (losses) arising during year                        |   | $      | (464   | )      |   | $      | 5,758  |   |   | $ | (11,461 | ) |
| Reclassification adjustment for realized (gains) and losses included in net income |   |   | 0      |   |   |   | (654   | )      |   |   | 14,564 |   |
| Change in unrealized gains (losses) on securities available-for-sale               |   |   | (464   | )      |   |   | 5,104  |   |   |   | 3,103 |   |
| Related tax effects:                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Change in unrealized net gains (losses) arising during year                        |   |   | (162   | )      |   |   | 2,015  |   |   |   | (4,011 | ) |
| Reclassification adjustment for realized (gains) and losses included in net income |   |   | 0      |   |   |   | (229   | )      |   |   | 5,097 |   |
| Deferred tax expense (benefit)                                                     |   |   | (162   | )      |   |   | 1,786  |   |   |   | 1,086 |   |
| Reclassification adjustment, net of tax:                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Change in unrealized net gains (losses) arising during year                        |   |   | (302   | )      |   |   | 3,743  |   |   |   | (7,450 | ) |
| Reclassification adjustment for realized (gains) and losses included in net income |   |   | 0      |   |   |   | (425   | )      |   |   | 9,467 |   |
| Change in other comprehensive income                                               |   | $      | (302   | )      |   | $      | 3,318  |   |   | $ | 2,017 |   |

----

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

----

----

Item 9.  Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9A.  Controls and Procedures

----

| ·   | Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the company; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Date: March 15, 2011 |   | /s/ Jean R. Hale                           |   |
|----------------------|--------|-------------------------------------------------|--------|
|                 |   | Jean R. Hale                                    |   |
|                 |   | Chairman, President and Chief Executive Officer |   |
|                 |   |                                            |   |

|   |   | /s/ Kevin J. Stumbo               |   |
|--------|--------|----------------------------------------|--------|
|   |   | Kevin J. Stumbo                        |   |
|   |   | Executive Vice President and Treasurer |   |
|   |   |  (Principal Financial Officer)    |   |

----

Item 9B.  Other Information

PART III

Item 10.  Directors, Executive Officers, and Corporate Governance

|   Name and Age (1) |   Positions and Offices Currently Held | Date First BecameDirector orExecutive Officer |  Principal Occupation |
|------------------------------|--------------------------------------------------|-----------------------------------------------|----------------------------|
| Jean R. Hale; 64             | Chairman, President and CEO                      | 1992                                          |                       | Chairman, President and CEO of Community Trust Bancorp, Inc. |
|                         |                                             |                                          |                       |   |
| Mark A. Gooch; 52            | Executive Vice President and Secretary           | 1997                                          |                       | President and CEO of Community Trust Bank, Inc. |
|                         |                                             |                                          |                       |   |
| Larry W. Jones; 64           | Executive Vice President                         | 2000                                          |   (2)                 | Executive Vice President/ Central Kentucky Region President of Community Trust Bank, Inc. |
|                         |                                             |                                          |                       |   |
| James B. Draughn; 51         | Executive Vice President                         | 2001                                          |                       | Executive Vice President/Operations of Community Trust Bank, Inc. |
|                         |                                             |                                          |                       |   |
| Kevin J. Stumbo; 50          | Executive Vice President and Treasurer           | 2002                                          |                       | Executive Vice President/ Controller of Community Trust Bank, Inc. |
|                         |                                             |                                          |                       |   |
| Ricky D. Sparkman; 48        | Executive Vice President                         | 2002                                          |                       | Executive Vice President/ South Central Region President of Community Trust Bank, Inc. |
|                         |                                             |                                          |                       |   |
| Richard W. Newsom; 56        | Executive Vice President                         | 2002                                          |                       | Executive Vice President/ Eastern Region President of Community Trust Bank, Inc. |
|                         |                                             |                                          |                       |   |
| James J. Gartner; 69         | Executive Vice President                         | 2002                                          |                       | Executive Vice President/ Chief Credit Officer of Community Trust Bank, Inc. |
|                         |                                             |                                          |                       |   |
| Steven E. Jameson; 54        | Executive Vice President                         | 2004                                          |   (3)                 | Executive Vice President/ Chief Internal Audit & Risk Officer |
|                         |                                             |                                          |                       |   |
| D. Andrew Jones; 48          | Executive Vice President                         | 2010                                          |   (4)                 | Executive Vice President/ Northeastern Region President of Community Trust Bank, Inc. |
|                         |                                             |                                          |                       |   |
| Andy D. Waters; 45           | Executive Vice President                         | 2011                                          |   (5)                 | President and CEO of Community Trust and Investment Company |

| (1) | The ages listed for CTBI's executive officers are as of February 28, 2011. |
|-----|----------------------------------------------------------------------------|

| (2) | Mr. Larry Jones was named Executive Vice President/Central Kentucky Region President of Community Trust Bank, Inc. in November 2010 to replace Michael Wasson who retired.  Mr. Larry Jones had served as Executive Vice President/Northeastern Region President since September 2002. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Mr. Jameson is a non-voting member of the Executive Committee. |
|-----|----------------------------------------------------------------|

| (4) | Mr. Andrew Jones replaced Mr. Larry Jones as Executive Vice President/Northeastern Region President.  Mr. Andrew Jones has been employed by Community Trust Bank, Inc. since 1987.  His most recent position was Senior Vice President/Senior Lender of the Ashland Market which he had held since 2002. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Mr. Waters has been with Community Trust and Investment Company since 2004, serving as Senior Vice President/Manager of Trust and Estate Services prior to becoming President and CEO effective January 1, 2011.  Mr. Waters replaced Tracy Little who retired effective December 31, 2010. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

Item 11.  Executive Compensation

Item 12.  Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

----

|                                                   | A                                                          | B                      | C                                                                                                                               |
|--------------------------------------------------------|------------------------------------------------------------|------------------------|---------------------------------------------------------------------------------------------------------------------------------|
| Plan Category(shares in thousands)                     | Number of Common Shares to be Issued Upon Exercise/Vesting | Weighted Average Price | Number of Securities Available for Future Issuance Under Equity Compensation Plans (excluding securities reflected in Column A) |
| Equity compensation plans approved by shareholders:    |                                                       |                   |                                                                                                                            |
|                                                   | Stock options                                              | 548                    | $29.50                                                                                                                          | 1,421 |
|                                                   | Restricted stock                                           |   53         |   26.11                                                                                                               |   |
| Equity compensation plans not approved by shareholders |                                                       |                   |                                                                                                                            |
|                                                   |                                                       |                   |                                                                                                                            |
| Total                                                  |                                                       |                   | 1,421                                                                                                                           |

Item 13.  Certain Relationships, Related Transactions, and Director Independence

Item 14.  Principal Accountant Fees and Services

----

PART IV

Item 15.  Exhibits and Financial Statement Schedules

| Exhibit No. | Description of Exhibits                                                                                                                                                                                                                                                                                                                                                                                  |
|-------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1         | Articles of Incorporation and all amendments thereto {incorporated by reference to registration statement no. 33-35138}                                                                                                                                                                                                                                                                                  |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 3.2         | By-laws of CTBI as amended July 25, 1995 {incorporated by reference to registration statement no. 33-61891}                                                                                                                                                                                                                                                                                              |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 3.3         | By-laws of CTBI as amended January 29, 2008 {incorporated by reference to current report on Form 8-K filed January 30, 2008}                                                                                                                                                                                                                                                                             |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.1        | Community Trust Bancorp, Inc. Employee Stock Ownership Plan (effective January 1, 2007) {incorporated herein by reference to Form 10-K for the fiscal year ended December 31, 2006 under SEC file no. 000-111-29}                                                                                                                                                                                        |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.2        | Community Trust Bancorp, Inc. Savings and Employee Stock Ownership Plan (Amendment Number One effective January 1, 2002, Amendment Number Two effective January 1, 2004, Amendment Number Three effective March 28, 2005, and Amendment Number Four effective January 1, 2006) {incorporated herein by reference to Form 10-K for the fiscal year ended December 31, 2006 under SEC file no. 000-111-29} |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.3        | Second restated Pikeville National Corporation 1989 Stock Option Plan (commonly known as Community Trust Bancorp, Inc. 1989 Stock Option Plan) {incorporated by reference to registration statement no. 33-36165}                                                                                                                                                                                        |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.4        | Community Trust Bancorp, Inc. 1998 Stock Option Plan {incorporated by reference to registration statement no. 333-74217}                                                                                                                                                                                                                                                                                 |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.5        | Community Trust Bancorp, Inc. 2006 Stock Ownership Incentive Plan {incorporated by reference to Proxy Statement dated March 24, 2006}                                                                                                                                                                                                                                                                    |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.6        | Form of Severance Agreement between Community Trust Bancorp, Inc. and executive officers (currently in effect with respect to eleven executive officers) {incorporated herein by reference to Form 10-K for the fiscal year ended December 31, 2001 under SEC file no. 000-111-29}                                                                                                                       |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.7        | Senior Management Incentive Compensation Plan (2011) {incorporated herein by reference to current report on Form 8-K dated January 25, 2011}                                                                                                                                                                                                                                                             |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.8        | Restricted Stock Agreement {incorporated herein by reference to current report on Form 8-K dated January 29, 2008}                                                                                                                                                                                                                                                                                       |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.9        | Employee Incentive Compensation Plan (2011) {incorporated herein by reference to current report on Form 8-K date January 25, 2011}                                                                                                                                                                                                                                                                       |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 21          | List of subsidiaries                                                                                                                                                                                                                                                                                                                                                                                     |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 23.1        | Consent of BKD, LLP, Independent Registered Public Accounting Firm                                                                                                                                                                                                                                                                                                                                       |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 31.1        | Certification of Principal Executive Officer (Jean R. Hale, Chairman, President and CEO)                                                                                                                                                                                                                                                                                                                 |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 31.2        | Certification of Principal Financial Officer (Kevin J. Stumbo, Executive Vice President and Treasurer)                                                                                                                                                                                                                                                                                                   |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 32.1        | Certification of Jean R. Hale, Chairman, President and CEO, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                     |
|        |                                                                                                                                                                                                                                                                                                                                                                                                     |
| 32.2        | Certification of Kevin J. Stumbo, Executive Vice President and Treasurer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                       |

----

SIGNATURES

|                       | COMMUNITY TRUST BANCORP, INC. |                                            |
|----------------------------|-------------------------------|-------------------------------------------------|
|                       |                          |                                            |   |
| Date:  March 15, 2011 | By:                           | /s/ Jean R. Hale                           |   |
|                       |                          | Jean R. Hale                                    |   |
|                       |                          | Chairman, President and Chief Executive Officer |   |
|                       |                          |                                            |   |

|   |   |                                            |   |
|--------|--------|-------------------------------------------------|--------|
|   |   | /s/ Kevin J. Stumbo                        |   |
|   |   | Kevin J. Stumbo                                 |   |
|   |   | Executive Vice President and Treasurer          |   |
|   |   |  (Principal Financial Officer)   |   |

----

| March 15, 2011 | /s/ Jean R. Hale           | Chairman, President, and Chief Executive Officer                    |
|----------------|----------------------------|---------------------------------------------------------------------|
|           | Jean R. Hale               |                                                                |
|           |                       |                                                                |
| March 15, 2011 | /s/ Kevin J. Stumbo        | Executive Vice President and Treasurer(Principal Financial Officer) |
|           | Kevin J. Stumbo            |                                                                |
|           |                       |                                                                |
| March 15, 2011 | /s/ Charles J. Baird       | Director                                                            |
|           | Charles J. Baird           |                                                                |
|           |                       |                                                                |
| March 15, 2011 | /s/ Nick Carter            | Director                                                            |
|           | Nick Carter                |                                                                |
|           |                       |                                                                |
| March 15, 2011 | /s/ Nick A. Cooley         | Director                                                            |
|           | Nick A. Cooley             |                                                                |
|           |                       |                                                                |
| March 15, 2011 | /s/ James E. McGhee, II    | Director                                                            |
|           | James E. McGhee II         |                                                                |
|           |                       |                                                                |
| March 15, 2011 | /s/ M. Lynn Parrish        | Director                                                            |
|           | M. Lynn Parrish            |                                                                |
|           |                       |                                                                |
| March 15, 2011 | /s/ James R. Ramsey        | Director                                                            |
|           | James R. Ramsey            |                                                                |
|           |                       |                                                                |
| March 15, 2011 | /s/ Anthony W. St. Charles | Director                                                            |
|           | Anthony W. St. Charles     |                                                                |

----

INDEX TO EXHIBITS

| Exhibit No. | Description of Exhibits                                                                                                                                                                                                                                                                                           |
|-------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1         | Articles of Incorporation for CTBI {incorporated herein by reference}                                                                                                                                                                                                                                             |
|        |                                                                                                                                                                                                                                                                                                              |
| 3.2         | By-laws of CTBI as amended July 25, 1995 {incorporated herein by reference}                                                                                                                                                                                                                                       |
|        |                                                                                                                                                                                                                                                                                                              |
| 3.3         | By-laws of CTBI as amended January 29, 2008 {incorporated herein by reference}                                                                                                                                                                                                                                    |
|        |                                                                                                                                                                                                                                                                                                              |
| 10.1        | Community Trust Bancorp, Inc. Employee Stock Ownership Plan (effective January 1, 2007) {incorporated herein by reference}                                                                                                                                                                                        |
|        |                                                                                                                                                                                                                                                                                                              |
| 10.2        | Community Trust Bancorp, Inc. Savings and Employee Stock Ownership Plan (Amendment Number One effective January 1, 2002, Amendment Number Two effective January 1, 2004, Amendment Number Three effective March 28, 2005, and Amendment Number Four effective January 1, 2006) {incorporated herein by reference} |
|        |                                                                                                                                                                                                                                                                                                              |
| 10.3        | Second restated Pikeville National Corporation 1989 Stock Option Plan (commonly known as Community Trust Bancorp, Inc. 1989 Stock Option Plan) {incorporated herein by reference}                                                                                                                                 |
|        |                                                                                                                                                                                                                                                                                                              |
| 10.4        | Community Trust Bancorp, Inc. 1998 Stock Option Plan {incorporated herein by reference}                                                                                                                                                                                                                           |
|        |                                                                                                                                                                                                                                                                                                              |
| 10.5        | Community Trust Bancorp, Inc. 2006 Stock Ownership Incentive Plan {incorporated herein by reference}                                                                                                                                                                                                              |
|        |                                                                                                                                                                                                                                                                                                              |
| 10.6        | Form of Severance Agreement between Community Trust Bancorp, Inc. and executive officers (currently in effect with respect to eleven executive officers) {incorporated herein by reference}                                                                                                                       |
|        |                                                                                                                                                                                                                                                                                                              |
| 10.7        | Senior Management Incentive Compensation Plan (2011) {incorporated herein by reference}                                                                                                                                                                                                                           |
|        |                                                                                                                                                                                                                                                                                                              |
| 10.8        | Restricted Stock Agreement {incorporated herein by reference}                                                                                                                                                                                                                                                     |
|        |                                                                                                                                                                                                                                                                                                              |
| 10.9        | Employee Incentive Compensation Plan (2011) {incorporated herein by reference}                                                                                                                                                                                                                                    |
|        |                                                                                                                                                                                                                                                                                                              |
| 21          | List of subsidiaries                                                                                                                                                                                                                                                                                              |
|        |                                                                                                                                                                                                                                                                                                              |
| 23.1        | Consent of BKD, LLP, Independent Registered Public Accounting Firm                                                                                                                                                                                                                                                |
|        |                                                                                                                                                                                                                                                                                                              |
| 31.1        | Certification of Principal Executive Officer (Jean R. Hale, Chairman, President and CEO)                                                                                                                                                                                                                          |
|        |                                                                                                                                                                                                                                                                                                              |
| 31.2        | Certification of Principal Financial Officer (Kevin J. Stumbo, Executive Vice President and Treasurer)                                                                                                                                                                                                            |
|        |                                                                                                                                                                                                                                                                                                              |
| 32.1        | Certification of Jean R. Hale, Chairman, President and CEO, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                              |
|        |                                                                                                                                                                                                                                                                                                              |
| 32.2        | Certification of Kevin J. Stumbo, Executive Vice President and Treasurer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                |

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