Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Waters Andy D
 2. Date of Event Requiring Statement (Month/Day/Year)
01/01/2011		 3. Issuer Name and Ticker or Trading Symbol
COMMUNITY TRUST BANCORP INC /KY/ [CTBI]
(Last)
(First)
(Middle)
100 EAST VINE STREET		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Vice President
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

LEXINGTON, KY 40507-1406		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 322
D
 
Common Stock 1,115.0538
I
By: ESOP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Option (1) 01/28/2009 01/28/2015 Common Stock 222 $ 30.88 D  
Option (1) 01/27/2009 01/27/2016 Common Stock 222 $ 32.44 D  
Option (1) 01/27/2010 01/27/2016 Common Stock 222 $ 32.44 D  
Option (2) 01/23/2008 01/23/2017 Common Stock 453.75 $ 38.95 D  
Option (2) 01/23/2009 01/23/2017 Common Stock 453.75 $ 38.95 D  
Option (2) 01/23/2010 01/23/2017 Common Stock 453.75 $ 38.95 D  
Option (2) 01/23/2011 01/23/2017 Common Stock 453.75 $ 38.95 D  
Option (3) 01/29/2013 01/29/2018 Common Stock 1,250 $ 28.32 D  
Option (2) 01/27/2010 01/27/2019 Common Stock 125 $ 29.82 D  
Option (2) 01/27/2011 01/27/2019 Common Stock 125 $ 29.82 D  
Option (2) 01/27/2012 01/27/2019 Common Stock 125 $ 29.82 D  
Option (2) 01/27/2013 01/27/2019 Common Stock 125 $ 29.82 D  
Option (3) 01/26/2015 01/26/2020 Common Stock 200 $ 25.09 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Waters Andy D
100 EAST VINE STREET
LEXINGTON, KY 40507-1406		       Executive Vice President  

Signatures

Andy D. Waters By: Marilyn T. Justice, Attorney-in-Fact 01/11/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Right to buy pursuant to Incentive Stock Option Agreement (CTBI 1998 Stock Option Plan).
(2) Right to buy pursuant to Incentive Stock Option Agreement (CTBI 2006 Stock Option Plan).
(3) Right to buy pursuant to Non-Qualified Stock Option Agreement (CTBI 2006 Stock Ownership Incentive Plan).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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