Community Trust Bancorp, Inc. (CTBI) announced that Richard W. Newsom, its Executive Vice President and President of Community Trust Bank, will retire on February 5, 2027. Newsom will continue in his current roles until that date, after which the company will begin a succession process to identify a new president who will guide the bank’s strategy and operations moving forward.
The announcement follows a notification issued on April 29, 2026, and confirms that Newsom’s retirement will be effective nearly nine months after the public disclosure. The timing allows for a smooth transition and gives the board and management time to evaluate internal and external candidates. The company’s board has a history of planned executive succession, having previously transitioned leadership in 2022 when Jean R. Hale retired after 23 years of service.
Community Trust Bancorp is a regional banking company headquartered in Pikeville, Kentucky, with approximately $6.7 billion in assets. It operates 69 banking locations in Kentucky, six in West Virginia, and three in Tennessee, along with four trust offices in Kentucky and one in Tennessee. The retirement of a long‑serving executive such as Newsom marks a significant moment for the company, as it will shape the bank’s future strategy and operational focus.
The announcement does not include specific details about the succession plan or potential candidates, but the company’s prior experience with executive transitions suggests a structured approach. Management has emphasized the importance of a strong succession plan to ensure continuity and maintain confidence among customers, employees, and investors.
The retirement of a senior executive is a material event that can influence the company’s strategic direction and governance structure. Investors and stakeholders will likely monitor the succession process closely, as the new president will play a key role in steering the bank’s growth and risk management strategies.
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