Farmers Capital Bank Corp. reported net income of $272,000 for the quarter that ended Sept. 30.
The Frankfort-based company said that was a net loss of 3 cents per common share after factoring in dividends related to outstanding preferred stock.
For the third quarter last year, Farmers reported net income of $1.3 million, or 11 cents per common share.
"While the overall results for the quarter were not at a level for which we are striving, there are several positives worth noting," said Lloyd C. Hillard Jr., president and chief executive officer of Farmers. "Those include a decrease in non-performing assets, further strengthening of the allowance for loan losses, and the collection of a $500,000 recovery related to a single credit previously charged off."
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Farmers is a bank holding company that operates 36 banking locations in 23 communities throughout Central and Northern Kentucky as well as a data processing company.