Frankfort-based Farmers Capital Bank Corporation announced this week that its earnings fell more than 40 percent in its most recent quarter compared to the same time in 2009.
The company earned $1.9 million, or 20 cents, for the quarter ended March 31. That's down from $3.3 million, or 39 cents a share, in the same period last year.
In a statement, the company said net interest income fell 5.5 percent year-over-year and interest and fee income on loans dropped 11.1 percent. That was partially offset by lower interest expense on deposits. The company said its provision for loan losses increased $250,000, or 14.9 percent, compared to the same period last year.
Farmers Capital Bank operates 36 banking locations in 23 communities throughout Central and Northern Kentucky.