FORM 4

      Check this box if no longer subject to Section 16.  Form 4 or Form 5 obligations may continue.
See Instruction 1(b).

(Print or Type Responses)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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 1. Name and Address of Reporting Person *

(Last)            (First)              (Middle)

(Street)

(City)       (State)          (Zip)

 2. Issuer Name and Ticker
    or Trading Symbol

Community Trust Bancorp, Inc.
CTBI

 3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (voluntary)

 4. Statement for
 (Month/Day/Year)

January 17, 2003

 5. If Amendment, Date of
   Original (Month/Day/Year)

 6. Relationship of Reporting Person(s) to Issuer

(Check all applicable)

  X   Director

      10% Owner

  X   Officer (give title below)

      Other (specify below)

Vice Chairman, President & CEO

 7. Individual or Joint/Group
     Filing (Check Applicable Line)

  X   Form filed by One Reporting Person

      Form filed by More than One Reporting Person

1. Title of Security
(Instr. 3)

2. Transaction Date (Month/Day/
Year)

2A. Deemed Execution Date, if any (Month/Day/
Year)

3. Transaction Code
(Instr. 8)

4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)

5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)

6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)

7. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

V

Amount

(A) or (D)

Price

Common Stock

56,511.4517

D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date
(Month/Day/
Year)

3A. Deemed Execution Date, if any (Month/Day/
Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Securities: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

V

(A)

(D)

Date
Exercisable

Expiration
Date

Title

Amount or Number of Shares

Option (1)

$14.80

05/17/1993

J(2)

05/17/1994

05/17/2003

Common Stock

549.22

549.22

D

Option (1)

$14.80

05/17/1993

J(2)

05/17/1995

05/17/2003

Common Stock

549.22

549.22

D

Option (1)

$14.80

05/17/1993

J(2)

05/17/1996

05/17/2003

Common Stock

549.22

549.22

D

Option (1)

$14.80

05/17/1993

J(2)

05/17/1997

05/17/2003

Common Stock

549.22

549.22

D

Option (1)

$23.56

02/28/1994

J(3)

02/28/1995

02/28/2004

Common Stock

537.07

537.07

D

Option (1)

$23.56

02/28/1994

J(3)

02/28/1996

02/28/2004

Common Stock

537.07

537.07

D

Option (1)

$23.56

02/28/1994

J(3)

02/28/1997

02/28/2004

Common Stock

537.07

537.07

D

Option (1)

$23.56

02/28/1994

J(3)

02/28/1998

02/28/2004

Common Stock

537.07

537.07

D

Option (1)

$15.79

02/20/1995

J(4)

02/20/1996

02/20/2005

Common Stock

565.4

565.4

D

Option (1)

$15.79

02/20/1995

J(4)

02/20/1997

02/20/2005

Common Stock

565.4

565.4

D

Explanation of Responses:

(1) Right to buy pursuant to First Restated PNC 1989 Stock Option Plan.  (2) Option previously reported as covering 250 shares @$32.50 per share, adjusted to reflect the 3-for-2 stock split effective 02/01/94 and 10% stock dividends effective 04/15/97, 04/15/99, 04/15/00 & 12/15/02.  (3) Option previously reported as covering 366.75 shares @$34.50 per share, adjusted to reflect the 10% stock dividends effective 04/15/97, 04/15/99, 04/15/00 & 12/15/02.  (4) Option previously reported as covering 386.25 shares @$23.125 per share, adjusted to reflect the 10% stock dividends effective 04/15/97, 04/15/99, 04/15/00 & 12/15/02.  **On October 22, 2002, CTBI declared a 10% stock dividend to all holders of record of common stock on December 1, 2002, payable December 15, 2002.  As a result, the reporting person received 5,136.9502 shares directly.

** Signature of Reporting Person

Date