we also have a loan review department that reviews every market within ctb annually and performs extensive testing of the loan portfolio to assure the accuracy of loan grades and classifications for delinquency , troubled debt restructuring , impaired status , impairment , nonaccrual status , and adequate loan loss reserves . the loan review department has annually reviewed on average 95 % of the outstanding commercial loan portfolio for the past three years . the average annual review percentage of the consumer and residential loan portfolio for the past three years was 85 % based on the loan production during the number of months included in the review scope . the review scope is generally four to six months of production . impaired loans , loans not expected to meet contractual principal and interest payments , at december 31 , 2018 totaled $ 46.4 million compared to $ 47.4 million at december 31 , 2017. included in certain loan categories of impaired loans are troubled debt restructurings that were classified as impaired . at december 31 , 2018 , ctbi had $ 31.5 million in commercial loans secured by real estate , $ 4.2 million in commercial real estate construction loans , $ 8.8 million in commercial other loans , and $ 1.9 million in real estate mortgage loans that were modified in troubled debt restructurings and or impaired . management evaluates all impaired loans for impairment and records a direct charge-off or provides specific reserves when necessary . for further information regarding nonperforming and impaired loans , see note 4 to the consolidated financial statements . ctbi generally does not offer high risk loans such as option arm products , high loan to value ratio mortgages , interest-only loans , loans with initial teaser rates , or loans with negative amortizations , and therefore , ctbi would have no significant exposure to these products . our level of foreclosed properties at $ 27.3 million at december 31 , 2018 was a decrease of $ 4.7 million from the $ 32.0 million at december 31 , 2017. sales of foreclosed properties for the year ended december 31 , 2018 totaled $ 7.7 million while new foreclosed properties totaled $ 5.5 million . at december 31 , 2018 , the book value of properties under contracts to sell was $ 3.3 million ; however , the closings had not occurred at year-end . when foreclosed properties are acquired , appraisals are obtained and the properties are booked at the current market value less expected sales costs . additionally , periodic updated appraisals are obtained on unsold foreclosed properties . when an updated appraisal reflects a market value below the current book value , a charge is booked to current earnings to reduce the property to its new market value less expected sales costs . charges to earnings in 2018 to reflect the decrease in current market values of foreclosed properties totaled $ 2.5 million . there were 63 properties reappraised during 2018. of these , 40 were written down by a total of $ 0.9 million . charges during the year ended december 31 , 2017 were $ 3.0 million . our policy for determining the frequency of periodic reviews is based upon consideration of the specific properties and the known or perceived market fluctuations in a particular market and is typically between 12 and 18 months but generally not more than 24 months . approximately ninety-three percent of our oreo properties have appraisals dated within the past 18 months . management anticipates that our foreclosed properties will remain elevated as we work through current market conditions . the appraisal aging analysis of foreclosed properties , as well as the holding period , at december 31 , 2018 is shown below : replace_table_token_21_th * regulatory approval is required and has been obtained to hold these properties beyond the initial period of 5 years . additional approval may be required to continue to hold these properties should they not be liquidated during the extension period , which is typically one year . to the extent we are not able to sell a foreclosed property in 10 years , we will be required to relinquish ownership of that property . as of december 31 , 2018 , foreclosed property with a total book value of $ 2.4 million , representing 8.6 % of our foreclosed properties ( based on book value ) , had been held by us for at least nine years . the book value at december 31 , 2018 represents management 's best estimate of realizable value of the properties . net loan charge-offs for the year were $ 6.4 million , or 0.20 % of average loans annualized , a decrease from prior year 's $ 7.3 million , or 0.24 % of average loans annualized . of the total net charge-offs , $ 1.6 million were in commercial loans , $ 3.3 million were in indirect auto loans , $ 1.0 million were in residential real estate mortgage loans , and $ 0.5 million were in direct consumer loans . our loan loss reserve as a percentage of total loans outstanding at december 31 , 2018 decreased to 1.12 % from the 1.16 % at december 31 , 2017. our reserve coverage ( allowance for loan and lease loss reserve to nonperforming loans ) was 162.7 % at december 31 , 2018 compared to 127.8 % at december 31 , 2017. contractual obligations and commitments as disclosed in the notes to the consolidated financial statements , we have certain obligations and commitments to make future payments under contracts . at december 31 , 2018 , the aggregate contractual obligations and commitments are : replace_table_token_22_th * the amounts provided as interest on advances from federal home loan bank and interest on long-term debt assume the liabilities will not be prepaid and interest is calculated to their individual maturities . story_separator_special_tag critical accounting policies and estimates the preparation of consolidated financial statements in conformity with accounting principles generally accepted in the united states of america requires the appropriate application of certain accounting policies , many of which require us to make estimates and assumptions about future events and their impact on amounts reported in our consolidated financial statements and related notes . since future events and their impact can not be determined with certainty , the actual results will inevitably differ from our estimates . such differences could be material to the consolidated financial statements . we believe the application of accounting policies and the estimates required therein are reasonable . these accounting policies and estimates are constantly reevaluated , and adjustments are made when facts and circumstances dictate a change . historically , we have found our application of accounting policies to be appropriate , and actual results have not differed materially from those determined using necessary estimates . our accounting policies are described in note 1 to the consolidated financial statements . we have identified the following critical accounting policies : investments – management determines the classification of securities at purchase . we classify debt securities into held-to-maturity , trading , or available-for-sale categories . held-to-maturity securities are those which we have the positive intent and ability to hold to maturity and are reported at amortized cost . in accordance with financial accounting standards board accounting standards codification ( “ asc ” ) 320 , investments – debt securities , investments in debt securities that are not classified as held-to-maturity shall be classified in one of the following categories and measured at fair value in the statement of financial position : a. trading securities . securities that are bought and held principally for the purpose of selling them in the near term ( thus held for only a short period of time ) shall be classified as trading securities . trading generally reflects active and frequent buying and selling , and trading securities are generally used with the objective of generating profits on short-term differences in price . b. available-for-sale securities . investments not classified as trading securities ( nor as held-to-maturity securities ) shall be classified as available-for-sale securities . we do not have any securities that are classified as trading securities . available-for-sale securities are reported at fair value , with unrealized gains and losses included as a separate component of shareholders ' equity , net of tax . if declines in fair value are other than temporary , the carrying value of the securities is written down to fair value as a realized loss with a charge to income for the portion attributable to credit losses and a charge to other comprehensive income for the portion that is not credit related . gains or losses on disposition of debt securities are computed by specific identification for those securities . interest and dividend income , adjusted by amortization of purchase premium or discount , is included in earnings . when the fair value of a security is below its amortized cost , and depending on the length of time the condition exists and the extent the fair market value is below amortized cost , additional analysis is performed to determine whether an other than temporary impairment condition exists . available-for-sale and held-to-maturity securities are analyzed quarterly for possible other than temporary impairment . the analysis considers ( i ) whether we have the intent to sell our securities prior to recovery and or maturity and ( ii ) whether it is more likely than not that we will not have to sell our securities prior to recovery and or maturity . often , the information available to conduct these assessments is limited and rapidly changing , making estimates of fair value subject to judgment . if actual information or conditions are different than estimated , the extent of the impairment of the security may be different than previously estimated , which could have a material effect on ctbi 's results of operations and financial condition . subsequent to the effective date of asu 2016-01 , asc 320 applies only to debt securities and asc 321 , investments – equity securities , applies to equity securities . asc 321 requires equity investments ( except those accounted for under the equity method and those that result in the consolidation of the investee ) to be measured at fair value , with changes in fair values recognized in net income . equity securities with a readily determinable fair value are required to be measured at fair value , with changes in fair value recognized through net income . equity securities without a readily determinable fair value are carried at cost , less any impairment , if any , plus or minus changes resulting from observable price changes for identical or similar investments . an election can be made , as permitted by asc 321-10-35-2 , to subsequently measure an equity security without a readily determinable fair value , at fair value . equity securities held by ctbi include securities without readily determinable fair values . ctbi has elected to account for these securities at fair value . the fair value of these securities was determined by a third party service provider using level 3 inputs as defined in asc 820 , fair value measurement , and changes in fair value are recognized in income . loans – loans with the ability and the intent to be held until maturity and or payoff are reported at the carrying value of unpaid principal reduced by unearned interest , an allowance for loan and lease losses , and unamortized deferred fees or costs . income is recorded on the level yield basis . interest accrual is discontinued when management believes , after considering economic and business conditions , collateral value , and collection efforts , that the borrower 's financial condition is such that collection of interest is doubtful . any loan greater

capital resources ● impact of inflation , changing prices , and economic conditions ● stock repurchase program ● critical accounting policies and estimates our business community trust bancorp , inc. ( “ ctbi ” ) is a bank holding company headquartered in pikeville , kentucky . currently , we own one commercial bank , community trust bank , inc. ( “ ctb ” ) and one trust company , community trust and investment company . through our subsidiaries , we have seventy-nine banking locations in eastern , northeastern , central , and south central kentucky , southern west virginia , and northeastern tennessee , four trust offices across kentucky , and one trust office in northeastern tennessee . at december 31 , 2018 , we had total consolidated assets of $ 4.2 billion and total consolidated deposits , including repurchase agreements , of $ 3.5 billion . total shareholders ' equity at december 31 , 2018 was $ 564.2 million . trust assets under management , which are excluded from ctbi 's total consolidated assets , at december 31 , 2018 , were $ 2.0 billion . trust assets under management include ctb 's investment portfolio totaling $ 0.6 billion . through its subsidiaries , ctbi engages in a wide range of commercial and personal banking and trust and wealth management activities , which include accepting time and demand deposits ; making secured and unsecured loans to corporations , individuals and others ; providing cash management services to corporate and individual customers ; issuing letters of credit ; renting safe deposit boxes ; and providing funds transfer services . the lending activities of ctb include making commercial , construction , mortgage , and personal loans . lease-financing , lines of credit , revolving lines of credit , term loans , and other specialized loans , including asset-based financing , are also available . our corporate subsidiaries act as trustees of personal trusts , as executors of estates , as trustees for employee benefit trusts , as paying agents for bond and stock issues , as investment agent , as depositories for securities , and as providers of full service brokerage and insurance services . for further information , see item 1 of this annual report .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```capital resources ● impact of inflation , changing prices , and economic conditions ● stock repurchase program ● critical accounting policies and estimates our business community trust bancorp , inc. ( “ ctbi ” ) is a bank holding company headquartered in pikeville , kentucky . currently , we own one commercial bank , community trust bank , inc. ( “ ctb ” ) and one trust company , community trust and investment company . through our subsidiaries , we have seventy-nine banking locations in eastern , northeastern , central , and south central kentucky , southern west virginia , and northeastern tennessee , four trust offices across kentucky , and one trust office in northeastern tennessee . at december 31 , 2018 , we had total consolidated assets of $ 4.2 billion and total consolidated deposits , including repurchase agreements , of $ 3.5 billion . total shareholders ' equity at december 31 , 2018 was $ 564.2 million . trust assets under management , which are excluded from ctbi 's total consolidated assets , at december 31 , 2018 , were $ 2.0 billion . trust assets under management include ctb 's investment portfolio totaling $ 0.6 billion . through its subsidiaries , ctbi engages in a wide range of commercial and personal banking and trust and wealth management activities , which include accepting time and demand deposits ; making secured and unsecured loans to corporations , individuals and others ; providing cash management services to corporate and individual customers ; issuing letters of credit ; renting safe deposit boxes ; and providing funds transfer services . the lending activities of ctb include making commercial , construction , mortgage , and personal loans . lease-financing , lines of credit , revolving lines of credit , term loans , and other specialized loans , including asset-based financing , are also available . our corporate subsidiaries act as trustees of personal trusts , as executors of estates , as trustees for employee benefit trusts , as paying agents for bond and stock issues , as investment agent , as depositories for securities , and as providers of full service brokerage and insurance services . for further information , see item 1 of this annual report .
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 Suspicious Activity Report : we also have a loan review department that reviews every market within ctb annually and performs extensive testing of the loan portfolio to assure the accuracy of loan grades and classifications for delinquency , troubled debt restructuring , impaired status , impairment , nonaccrual status , and adequate loan loss reserves . the loan review department has annually reviewed on average 95 % of the outstanding commercial loan portfolio for the past three years . the average annual review percentage of the consumer and residential loan portfolio for the past three years was 85 % based on the loan production during the number of months included in the review scope . the review scope is generally four to six months of production . impaired loans , loans not expected to meet contractual principal and interest payments , at december 31 , 2018 totaled $ 46.4 million compared to $ 47.4 million at december 31 , 2017. included in certain loan categories of impaired loans are troubled debt restructurings that were classified as impaired . at december 31 , 2018 , ctbi had $ 31.5 million in commercial loans secured by real estate , $ 4.2 million in commercial real estate construction loans , $ 8.8 million in commercial other loans , and $ 1.9 million in real estate mortgage loans that were modified in troubled debt restructurings and or impaired . management evaluates all impaired loans for impairment and records a direct charge-off or provides specific reserves when necessary . for further information regarding nonperforming and impaired loans , see note 4 to the consolidated financial statements . ctbi generally does not offer high risk loans such as option arm products , high loan to value ratio mortgages , interest-only loans , loans with initial teaser rates , or loans with negative amortizations , and therefore , ctbi would have no significant exposure to these products . our level of foreclosed properties at $ 27.3 million at december 31 , 2018 was a decrease of $ 4.7 million from the $ 32.0 million at december 31 , 2017. sales of foreclosed properties for the year ended december 31 , 2018 totaled $ 7.7 million while new foreclosed properties totaled $ 5.5 million . at december 31 , 2018 , the book value of properties under contracts to sell was $ 3.3 million ; however , the closings had not occurred at year-end . when foreclosed properties are acquired , appraisals are obtained and the properties are booked at the current market value less expected sales costs . additionally , periodic updated appraisals are obtained on unsold foreclosed properties . when an updated appraisal reflects a market value below the current book value , a charge is booked to current earnings to reduce the property to its new market value less expected sales costs . charges to earnings in 2018 to reflect the decrease in current market values of foreclosed properties totaled $ 2.5 million . there were 63 properties reappraised during 2018. of these , 40 were written down by a total of $ 0.9 million . charges during the year ended december 31 , 2017 were $ 3.0 million . our policy for determining the frequency of periodic reviews is based upon consideration of the specific properties and the known or perceived market fluctuations in a particular market and is typically between 12 and 18 months but generally not more than 24 months . approximately ninety-three percent of our oreo properties have appraisals dated within the past 18 months . management anticipates that our foreclosed properties will remain elevated as we work through current market conditions . the appraisal aging analysis of foreclosed properties , as well as the holding period , at december 31 , 2018 is shown below : replace_table_token_21_th * regulatory approval is required and has been obtained to hold these properties beyond the initial period of 5 years . additional approval may be required to continue to hold these properties should they not be liquidated during the extension period , which is typically one year . to the extent we are not able to sell a foreclosed property in 10 years , we will be required to relinquish ownership of that property . as of december 31 , 2018 , foreclosed property with a total book value of $ 2.4 million , representing 8.6 % of our foreclosed properties ( based on book value ) , had been held by us for at least nine years . the book value at december 31 , 2018 represents management 's best estimate of realizable value of the properties . net loan charge-offs for the year were $ 6.4 million , or 0.20 % of average loans annualized , a decrease from prior year 's $ 7.3 million , or 0.24 % of average loans annualized . of the total net charge-offs , $ 1.6 million were in commercial loans , $ 3.3 million were in indirect auto loans , $ 1.0 million were in residential real estate mortgage loans , and $ 0.5 million were in direct consumer loans . our loan loss reserve as a percentage of total loans outstanding at december 31 , 2018 decreased to 1.12 % from the 1.16 % at december 31 , 2017. our reserve coverage ( allowance for loan and lease loss reserve to nonperforming loans ) was 162.7 % at december 31 , 2018 compared to 127.8 % at december 31 , 2017. contractual obligations and commitments as disclosed in the notes to the consolidated financial statements , we have certain obligations and commitments to make future payments under contracts . at december 31 , 2018 , the aggregate contractual obligations and commitments are : replace_table_token_22_th * the amounts provided as interest on advances from federal home loan bank and interest on long-term debt assume the liabilities will not be prepaid and interest is calculated to their individual maturities . story_separator_special_tag critical accounting policies and estimates the preparation of consolidated financial statements in conformity with accounting principles generally accepted in the united states of america requires the appropriate application of certain accounting policies , many of which require us to make estimates and assumptions about future events and their impact on amounts reported in our consolidated financial statements and related notes . since future events and their impact can not be determined with certainty , the actual results will inevitably differ from our estimates . such differences could be material to the consolidated financial statements . we believe the application of accounting policies and the estimates required therein are reasonable . these accounting policies and estimates are constantly reevaluated , and adjustments are made when facts and circumstances dictate a change . historically , we have found our application of accounting policies to be appropriate , and actual results have not differed materially from those determined using necessary estimates . our accounting policies are described in note 1 to the consolidated financial statements . we have identified the following critical accounting policies : investments – management determines the classification of securities at purchase . we classify debt securities into held-to-maturity , trading , or available-for-sale categories . held-to-maturity securities are those which we have the positive intent and ability to hold to maturity and are reported at amortized cost . in accordance with financial accounting standards board accounting standards codification ( “ asc ” ) 320 , investments – debt securities , investments in debt securities that are not classified as held-to-maturity shall be classified in one of the following categories and measured at fair value in the statement of financial position : a. trading securities . securities that are bought and held principally for the purpose of selling them in the near term ( thus held for only a short period of time ) shall be classified as trading securities . trading generally reflects active and frequent buying and selling , and trading securities are generally used with the objective of generating profits on short-term differences in price . b. available-for-sale securities . investments not classified as trading securities ( nor as held-to-maturity securities ) shall be classified as available-for-sale securities . we do not have any securities that are classified as trading securities . available-for-sale securities are reported at fair value , with unrealized gains and losses included as a separate component of shareholders ' equity , net of tax . if declines in fair value are other than temporary , the carrying value of the securities is written down to fair value as a realized loss with a charge to income for the portion attributable to credit losses and a charge to other comprehensive income for the portion that is not credit related . gains or losses on disposition of debt securities are computed by specific identification for those securities . interest and dividend income , adjusted by amortization of purchase premium or discount , is included in earnings . when the fair value of a security is below its amortized cost , and depending on the length of time the condition exists and the extent the fair market value is below amortized cost , additional analysis is performed to determine whether an other than temporary impairment condition exists . available-for-sale and held-to-maturity securities are analyzed quarterly for possible other than temporary impairment . the analysis considers ( i ) whether we have the intent to sell our securities prior to recovery and or maturity and ( ii ) whether it is more likely than not that we will not have to sell our securities prior to recovery and or maturity . often , the information available to conduct these assessments is limited and rapidly changing , making estimates of fair value subject to judgment . if actual information or conditions are different than estimated , the extent of the impairment of the security may be different than previously estimated , which could have a material effect on ctbi 's results of operations and financial condition . subsequent to the effective date of asu 2016-01 , asc 320 applies only to debt securities and asc 321 , investments – equity securities , applies to equity securities . asc 321 requires equity investments ( except those accounted for under the equity method and those that result in the consolidation of the investee ) to be measured at fair value , with changes in fair values recognized in net income . equity securities with a readily determinable fair value are required to be measured at fair value , with changes in fair value recognized through net income . equity securities without a readily determinable fair value are carried at cost , less any impairment , if any , plus or minus changes resulting from observable price changes for identical or similar investments . an election can be made , as permitted by asc 321-10-35-2 , to subsequently measure an equity security without a readily determinable fair value , at fair value . equity securities held by ctbi include securities without readily determinable fair values . ctbi has elected to account for these securities at fair value . the fair value of these securities was determined by a third party service provider using level 3 inputs as defined in asc 820 , fair value measurement , and changes in fair value are recognized in income . loans – loans with the ability and the intent to be held until maturity and or payoff are reported at the carrying value of unpaid principal reduced by unearned interest , an allowance for loan and lease losses , and unamortized deferred fees or costs . income is recorded on the level yield basis . interest accrual is discontinued when management believes , after considering economic and business conditions , collateral value , and collection efforts , that the borrower 's financial condition is such that collection of interest is doubtful . any loan greater

