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Kentucky Bank earnings down in third quarter

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.

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.

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