Kentucky Bancshares Inc., parent company of Kentucky Bank, reported a decline in earnings for the third quarter of 2008. For the latest quarter, the Paris-based company earned $1.36 million, or 49 cents a share, compared with $1.67 million, or 58 cents a share, for the same three months of 2007.
Earnings for the first nine months of 2008 totaled $4.035 million, or $1.44 a share, compared with $5.15 million, or $1.79 a share, for the same months of 2007.
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Kentucky Bank has offices in Cynthiana, Georgetown, Morehead, Nicholasville, North Middletown, Paris, Sandy Hook, Versailles, Wilmore and Winchester. The stock is KTYB.OB.
Meanwhile, the Bank of Kentucky Financial Corp. reported a 12 percent increase in net income to $3.42 million, or 61 cents a share, for the three months that ended Sept. 30, compared with $3.04 million, or 53 cents a share, for the same months last year.
For the nine months ended Sept. 30, the company earned $8.55 million, or $1.52 a share, versus $8.05 million, or $1.39 a share, for the 2007 period.
The company operates 28 branches of The Bank of Kentucky, primarily in Northern Kentucky. The bank has total assets of more than $1.2 billion. The stock is BKYF.