Community Trust Bank Again Kentucky’s Top SBA Community Bank Lender, 2024 – 2025

PIKEVILLE, KENTUCKY – For the 17^th consecutive year, Community Trust Bank, Inc. has earned the "Gold Lender Award" from the United States Small Business Administration (SBA) as Kentucky's top volume SBA 7(a) Community Bank lender in federal fiscal year 2024–2025.
 
SBA approved 60 guaranteed 7(a) loans for Community Trust Bank customers in Kentucky totaling $12,596,200, in the fiscal year. CTBI was also one of the top lenders in West Virginia in 2024-25, with nine loans totaling $2,231,000.
 
In total, SBA authorized 74 guaranteed 7(a) loans providing access to $18,029,200 for Community Trust Bank customers in four states (Kentucky, Tennessee, West Virginia, and Ohio) during the fiscal year (Oct. 1, 2024 to Sept. 30, 2025).
 
Additionally, Community Trust Bank and the SBA partnered to fund three 504 loan projects in Kentucky totaling $17,477,879.
 
Over the last 17 federal fiscal years, SBA has approved 1,406 SBA 7(a) and 504 loans, providing access to more than $345 million for Community Trust’s small business customers.  Community Trust Bank had 26 loan officers who closed SBA loans in the fiscal year.
 
Mr. Zachary Thacker of the Tug Valley market was the top overall producer of SBA loans, with 11 loans totaling $1,135,700. Six of the loans were in West Virginia and five were in Kentucky.
 
Mr. Bob Watson of the Versailles/Georgetown, Kentucky market tied as the leading SBA producer for Community Trust in Kentucky. For the prior 16 fiscal years, Watson has led the bank in production of SBA loans in the Bluegrass State. Mr. Watson originated seven SBA loans for $899,800 in 2024-25.
 
Mr. Jody Thompson of Pikeville tied Watson as the leader of SBA production in Kentucky, with seven loans for $2,882,000.
 
“Once again we are pleased to receive this honor from the Small Business Administration,” said Mark A. Gooch, Chairman, President and CEO of Community Trust Bancorp, Inc.  “Over the years, the relationship with the SBA has been an excellent one for both Community Trust Bank and our customer base, allowing us to offer competitive business loan products across our service area.  I’m proud of our employees as we look forward to continued profitable growth in this business in 2026.”

SBA Kentucky District Director Robert Coffey stated, “We extend our sincere appreciation to Community Trust Bank for their steadfast support of Kentucky’s small business sector through participation in the SBA loan programs. As we commemorate this milestone in partnership with Community Trust, we also extend our sincere appreciation to all partner banks and financial institutions whose collective efforts have resulted in a record-setting fiscal year, with over $312 million in SBA loans disbursed to small businesses throughout the Commonwealth. With continued dedication and strategic focus, we anticipate another exemplary year in advancing access to capital for Kentucky’s small business community.”
 
Terry Spears, Vice President/Small Business Banking Officer for Community Trust, said “2026 should be a great year for small businesses seeking SBA-guaranteed loans.”
 
SBA has some special programs in place to help small businesses, including a new, streamlined working capital line of credit program, as well as guaranty fee waivers for loans to manufacturers up to $950,000.
 
SBA-guaranteed 7(a) loans may be for up to $5 million. Funds may be used for legitimate business purposes, including the purchase and/or construction of buildings, equipment, inventory and working capital.
 
The 504 loan program allows lenders to facilitate much larger projects through the combination of the bank’s first mortgage loan, SBA’s $5 million fixed-rate second mortgage loan and the borrower’s equity injection. Funds for 504 projects are limited to land, building and equipment. Borrowers benefit from a fixed-rate of up to 25 years on a portion of the 504 project. The fixed rate has recently been under six percent, more than one percent lower than Wall Street Journal Prime.
 
Additionally, Community Trust’s SBA program often teams with other agencies, such as the United States Department of Agriculture’s guaranteed loan programs to facilitate projects up to $30 million.
 
CTBI also partners with the Kentucky Cabinet for Economic Development’s KSBCI program, the Kentucky Department of Agriculture’s KALF loan program, and the Southeast Kentucky Economic Development Corporation (SKED), to make projects possible.
 
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.  The SBA recognizes that small business is critical to the United States’ economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace.
 
Although SBA has grown and evolved in the years since it was established in 1953, the bottom-line mission remains the same.  The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.
 
Community Trust Bank, a wholly owned subsidiary of Community Trust Bancorp, Inc.  Community Trust Bancorp, Inc., with assets of $6.6 billion, is headquartered in Pikeville, Kentucky and has 72 banking locations across eastern, northeastern, central, and south central Kentucky, six banking locations in southern West Virginia, three banking locations in Tennessee, four trust offices across Kentucky, and one trust office in Tennessee.