Press Releases


Quarterly Financial Report

September 25, 2006 Kentucky Bank Adds New Consultants to its Financial Services Team
July 27, 2006 Quarterly Report Second Quarter 2006
July 7, 2006 Kentucky Bancshares, Inc. Completes Merger
July 7, 2006 Kentucky Bank Second Quarter Report
April 21, 2006 Kentucky Bank Announces Quarterly Earnings
April 3, 2006 Kentucky Bank Announces a New Regional Manager
April 3, 2006 Kentucky Bank Announces Commercial Lender
March 2, 2006 Kentucky Bank Parent Increases Dividend
FEBRUARY 27, 2006 Quarterly Report Fourth Quarter 2005
FEBRUARY 24, 2006 Kentucky Bancchares, Inc. and Peoples Bancorp of Sandy Hook, Inc. Announce Merger
August 15, 2005 Kentucky Bank Names Bourbon County Regional Board Members
July 18, 2005 Kentucky Bank Second Quarter Report
June 2, 2005 Kentucky Bank announces $10 million payments for USDA tobacco contracts
February 22, 2005 Kentucky Bank Parent Increases Dividend
February 9, 2005 Kentucky Bank Announces Commercial Lending Department
February 1, 2005 Kentucky Bank Promotes Walling
January 21, 2005 Kentucky Bancshares Inc, parent company of Kentucky Bank, reported a 158.4% increase in earnings for the fourth quarter of 2004.
October 18, 2004 Kentucky Bancshares Inc, parent company of Kentucky Bank, reported a 25.2% increase in earnings for the third quarter of 2004.
September 16, 2004 Prichard to become Kentucky Bank CEO; Woodford to remain Chairman
August 19,2004 Kentucky Bancshares Buys Back 4.4% Stake from Large Shareholder
July 21,2004 Kentucky Bancshares Inc, parent company of Kentucky Bank, reported a 22.8% increase in earnings for the second quarter of 2004 compared to the second quarter of 2003.

June 1, 2004

Kentucky Bank Promotes Fightmaster

April 14, 2004

Kentucky Bancshares Inc, parent company of Kentucky Bank, reported a 2.8% decrease in earnings for the first quarter of 2004.

March 03, 2004

Clark Nyberg has joined the bank as Vice President and Manager of Wealth Management

February 18, 2004

Kentucky Bank Parent Increases Dividend

January 21, 2004

Kentucky Bancshares Inc, parent company of Kentucky Bank, reported earnings for the fourth quarter of 2003.

August 15, 2005

Kentucky Bank Names Bourbon County Regional Board Members

Kentucky Bank has named three members to the Bourbon County Regional Board. Each market in which the bank operates has its own regional board. The purpose of the Board is to create business opportunities within those respective communities. The regional directors named are Proctor Blair, CPA; Allyson Eads, Co-owner and Co-operator of Eads Hardware; and Shackelford Parrish, Clay Ward Agency, LLC and Indian Creek Farm.

Proctor W. Blair graduated from Bourbon County High School and the University of Kentucky. Mr. Blair is a partner with the accounting firm of Ludwig, Blair and Bush, PLLC. He is a member of the Kentucky State Board of Accounting and the Kentucky Society of CPA’s. He is also a financial representative of Northwestern Mutual Financial Network and a partner in Executive Benefits Specialists of Kentucky. Mr. Blair is a member of the Bluegrass Chapter of Life Underwriters and life member of the Million Dollar Round Table. Mr. Blair is past President and current board member of the Paris-Bourbon County YMCA. He has served as President of the Bourbon-Nicholas County UK Alumni Club since 1990. Mr. Blair is a board member and treasurer of the Stoner Creek Country Club. The Blairs have two teenage daughters.

Allyson Eads, along with her husband David, have owned and operated Eads Hardware for the past twenty years. They have stores located in Cynthiana, Mt. Sterling and Paris. The Eadses, along with their two sons, are actively involved in the businesses. Allyson also serves on the advisory board of The House Hasson Hardware Company, a wholesale hardware supplier. Their business goals include offering the best service and product lines available. The Eads family includes two sons and two grandsons.

Shackelford Parrish, III is President of Clay Ward Agency, LLC and Indian Creek Farm. Upon graduating from Transylvania University, Shack joined the United States Air Force. In 1974, he joined the family business, the Clay Ward Agency. He has overseen the Indian Creek farm operations for more than two decades. Shack has served Bourbon County as past president of the Paris Rotary Club and as past president for the board of directors of the Paris YMCA. Shack is also a graduate of the United States Soccer Coaches Association School of Coaching. Mr. Parrish is a native of Bourbon County.

Kentucky Bank has offices in Georgetown, Nicholasville, Winchester, Paris, Versailles, Wilmore, Cynthiana and North Middletown. Kentucky Bank’s headquarters are located in Paris.

July 18, 2005

We are very pleased to report that our earnings per share on a diluted basis increased 14% over the first six months of 2005. This trend is a continuation of the positive earnings that Kentucky Bancshares experienced for the entire year of 2004.

Our net income for the second quarter was $1.5 million, or 56 cents per share after the effects of dilution. This is up by 10% from the results last year. For the same period in 2004, earnings were $1.4 million, or 51 cents per share. For this year to date we have now earned $1.05 per share versus 92 cents last year.

You will notice that our loans are up by 9.6% and deposits are up by 1.6% from a year ago. Much of this results from the relative economic strength of the markets that we currently serve. Credit quality remains good as reflected by both past dues and loan losses.

Our net interest margin continues to be something we constantly address. This is partly due to competitive pressures as more banks are continuing to open offices in the markets in which we already operate. This increases competition, but also validates our view that these are growing and very attractive communities in which to do business. The second factor contributing to the net interest margin issue is the growing need banks have for deposits in these markets. It is our anticipation that as interest rates continue to rise, pressure on our margin will ease somewhat.

Kentucky Bank’s Bourbon Region, under the direction of Vice President Nancye Fightmaster, welcomes a new board of directors. Directors joining the board are Proc Blair of Ludwig, Blair & Bush CPA; Allyson Eads of Eads Hardware; Clay Holderman, CEO Bourbon Community Hospital and Shack Parrish of Clay Ward Agency.

Kentucky Bank has headquarters in Paris with offices in six other communities: Cynthiana, Georgetown, Nicholasville, North Middletown, Versailles, Wilmore and Winchester.

June 2, 2005

Kentucky Bank announces $10 million payments for USDA tobacco contracts

Kentucky Bank announces today a $10 million commitment to make lump sum payments to purchase contracts related to the tobacco buyout program. For former quota holders and producers, the USDA has promised a schedule of annual payments from 2005 through 2014. The bank offers you the opportunity to exchange your rights for a payment amount that can be determined immediately. The offer expires whenever the $10 million amount is exhausted.

The lump sum amount is discounted because the money is received earlier than called for with USDA 10 year schedule. Kentucky Bank’s base offer is determined by the amount of the USDA contract and ranges from 75 to 80 per cent. The bank does reserve the right to change its offer at any time.

“ The tobacco buyout funds are crucial to farmers in Central Kentucky,” said Kentucky Bank President Louis Prichard. “ We are very pleased to announce Kentucky Bank’s $10 million commitment to offer lump settlements for those who prefer to make that choice. Some farmers with good reason may want to receive their funds over the promised 10 year period. Others for equally good reasons may want to exchange that stream of payments for a lump sum today. We have a very fair offer for those who want to receive their benefits in one lump sum.”

Kentucky Bank Regional Manager Nick Carter offered further comments. “ I’m really glad our bank has taken this step. Kentucky Bank has always valued its long term relationship with the farming community in Central Kentucky. For some the opportunity to have all the money available soon rather than over time helps them. This is a chance to provide a service that can really help those with a current need or opportunity.”

The bank is prepared to enter agreements immediately. The 2005 payment is not included in the lump sum agreement. The bank will purchase the stream of 9 payments due from 2006 through 2014. The lump sum payment to you will be made on January 3, 2006. However the amount of the payment will be determined now, upon execution of the lump sum agreement between the customer and the bank. In order to receive the payment, the customer’s contract and successor in interest form must be approved by the local farm service agency office.

Kentucky Bank has offices in six counties in Central Kentucky—Bourbon, Clark, Harrison, Jessamine, Scott and Woodford. The bank is headquartered in Paris.

February 22, 2005

Kentucky Bank Parent Increases Dividend

Kentucky Bancshares, Inc., parent holding company for Kentucky Bank, announced today an increase in the quarterly dividend to shareholders. The payout will be 23 cents per share, up from 21 cents for each of the previous four quarters. This payment will be made March 31 to shareholders of record March 18, 2005. The company has a record of increasing its dividend each year since 1982.

Kentucky Bancshares President Buckner Woodford made the announcement. “ This marks 23 consecutive years we have been able to increase the dividend. I want to thank all our employees for effort they make and service they provide our customers. We value the relationship we have with our customers. Our bank wouldn’t exist without them.”

Kentucky Bank has offices in Paris, Winchester, Georgetown, Versailles, Nicholasville, Wilmore, Cynthiana and North Middletown, all small communities that surround Lexington. At year-end assets totaled $529 million. It ranks 11th in size among the state’s 218 banks. Shares of the parent holding company trade over the counter and are reported on the OTC Bulletin Board. The symbol is KTYB.OB.
 

February 9, 2005

Kentucky Bank Announces Commercial Lending Department

Kentucky Bank is pleased to announce the establishment of a Commercial Lending Department. Darren Henry, VP, Director of Commercial Lending will head the department. Darren is located in the Winchester Main office. The team is composed of an extremely knowledgeable group of lenders, including commercial and agricultural specialists throughout Central Kentucky.

Mike Lovell, VP, Commercial Lender, formerly Jessamine County Regional manager will be working in the bank’s Nicholasville office. A. J. Gullet, VP, Commercial Lender will be working in the bank’s Versailles office. David Foster, VP, Agricultural Lender maintains offices in Jessamine, Woodford and Scott Counties. R. W. Collins, VP, Agricultural Lender works in Scott and Bourbon Counties. Darren Henry added “We have a very diverse, knowledgeable and experienced group of individuals who are capable of assisting with all commercial needs”.

Kentucky Bank has offices in Georgetown, Nicholasville, Winchester, Paris, Versailles, Wilmore, Cynthiana and North Middletown. Kentucky Bank’s headquarters are located in Paris, Kentucky.
 

February 1, 2005

Kentucky Bank Promotes Walling

Kentucky Bank promotes Rick Walling to Vice President, Jessamine County Regional Manager. Walling has been serving as a loan officer with the bank since 1999. Rick will be managing both the Wilmore and Nicholasville offices. His office is in the Nicholasville location, at 714 S. Main Street.

Kentucky Bank has offices in Georgetown, Nicholasville, Winchester, Paris, Versailles, Wilmore, Cynthiana and North Middletown Kentucky. Kentucky Bank‘s headquarters are located in Paris Kentucky.

January 21, 2005

Kentucky Bancshares Inc, parent company of Kentucky Bank, reported a 158.4% increase in earnings for the fourth quarter of 2004.

The company earned $1,593,898 for the quarter ended December 31, or $0.59 per share, compared to $616,874 for the same quarter last year, or $0.22 per share. In the fourth quarter of 2003, the company incurred substantial expenses relating to its acquisition of First Federal Savings Bank, Cynthiana.

Year to date earnings of $5,762,109 or $2.09 per share, are 36.1% ahead of the same period last year.

A stock repurchase transaction completed during the third quarter reduced the number of shares outstanding and increased earnings per share. Additionally, the bank enjoyed a 14.4% increase in loan growth, which helped net interest income grow by 16.1%.

Kentucky Bank ranks as 11th largest among 218 banks in the state. Headquartered in Paris, Kentucky Bank also has offices in Winchester, Georgetown, Versailles, Nicholasville, Wilmore, Cynthiana and North Middletown.
 

October 18, 2004

Kentucky Bancshares Inc, parent company of Kentucky Bank, reported a 25.2% increase in earnings for the third quarter of 2004.
The company earned $1,579,000 for the quarter ended September 30, or $.57 per share, compared to $1,262,000 for last year, or $.45 per share.

Year to date earnings of $4,168,000, or $1.49 per share, are 15.3% ahead of the same period last year.

A stock repurchase transaction completed during the third quarter reduced the number of shares outstanding and increased earnings per share.

Kentucky Bank has moved up in the size rankings. It ranks 11th largest among 218 banks in the state. Headquartered in Paris, Kentucky Bank also has offices in Winchester, Georgetown, Versailles, Nicholasville, Wilmore, Cynthiana and North Middletown.
 

September 16, 2004

Prichard to become Kentucky Bank CEO; Woodford to remain Chairman

Paris, KY - Kentucky Bank announced plans for bank President Louis Prichard to assume the additional role of CEO on January 1, 2005. Buckner Woodford will remain as bank chairman.

In their new roles Mr. Prichard will become responsible for performance of the bank. Mr. Woodford will be focused on longer-term strategic opportunities.

Mr. Prichard has been with Kentucky Bank since January of 2003. He presently serves in the capacity of President and Chief Operating Officer. From 1983 to 2003, Mr. Prichard was employed by Farmers National Bank of Danville, serving as its chairman and chief executive officer since 1997. He expressed appreciation to the board of directors for this additional responsibility.

Mr. Woodford has been with Kentucky Bank since August of 1971. He has been CEO since January of 1974. He expressed thanks to the board for their support over 31 years as CEO.

Kentucky Bank is the sole subsidiary of Kentucky Bancshares, Inc. Kentucky Bank has offices in Paris, Winchester, Georgetown, Versailles, Nicholasville, Wilmore, Cynthiana and North Middletown, all small communities that surround Lexington. Shares of the parent holding company trade over the counter and are reported on the OTC Bulletin Board. The symbol is KTYB.OB.

Contact: Gregory J. Dawson, Chief Financial Officer (859) 987 1795.
 

August 19, 2004

Kentucky Bancshares Buys Back 4.4% Stake from Large Shareholder

Paris, KY – Kentucky Bancshares, parent holding company for Kentucky Bank, announced today that it has redeemed 122,302 shares of its common stock held by a third-party shareholder. The shares redeemed represent 4.4% of the total shares outstanding before the transaction. The total purchase price for the stock redeemed was approximately $3.4 million, which was paid in cash today.

Had the transaction been completed at the beginning of the Company’s current fiscal year, pro-forma earnings per share for the six months ended June 30, 2004, would have been approximately $0.97, which is $0.05 or 5.4% higher than the reported $0.92.

“This transaction re-emphasizes the confidence management and the Board of Directors have in the Company and in our prospects for the future.” said Buckner Woodford, the Company’s President and Chief Executive Officer.

The redemption of these shares was approved by the Board of Directors outside of its previously initiated stock repurchase plans. Adopted in October 2000 and November 2002, these plans provided for the repurchase of up to an aggregate of 200,000 shares of the Company’s common stock. Approximately 115,667 shares remain authorized for possible repurchase under these plans.

Kentucky Bank has offices in Paris, Winchester, Georgetown, Versailles, Nicholasville, Wilmore, Cynthiana and North Middletown, all small communities that surround Lexington. Shares of the parent holding company trade over the counter and are reported on the OTC Bulletin Board. The symbol is KTYB.OB.

Contact: Buckner Woodford, President and Chief Executive Officer, or Gregory J. Dawson, Chief Financial Officer (859) 987 1795.
 

July 21, 2004

Kentucky Bancshares Inc, parent company of Kentucky Bank, reported a 22.8% increase in earnings for the second quarter of 2004 compared to the second quarter of 2003.
The company earned $1,439,000 for the quarter ended June 30, or $.51 per share, compared to $1,171,000 for last year, or $.42 per share.

Year to date earnings of $2,589,000, or $.92 per share, are 9.9% ahead of the same period last year.

Kentucky Bank has moved up in the size rankings. It ranks11th largest among 218 banks in the state. Headquartered in Paris, Kentucky Bank also has offices in Winchester, Georgetown, Versailles, Nicholasville, Wilmore, Cynthiana and North Middletown.
 

June 1, 2004

Kentucky Bank Promotes Fightmaster
Kentucky Bank announced that Vice President, Nancye Fightmaster has been named Regional manager for Bourbon County. The bank names an overall manager for each county of operation. “Her history and love of Bourbon County allows her to bring forth a special understanding and dedication to this position” said Louis Prichard, Kentucky Bank President.

Nancye is a graduate of the University of Kentucky with a degree in Business Education. She has been with the bank since 1991. She became a loan officer in 1999 and was made a Vice President in 2002. She is entering her third and final year of the Stonier Graduate School of Banking at Georgetown University in Washington D.C.

Nancye will be located in the Bourbon Building which is the Kentucky Bank headquarters at 339 Main streets in Paris. Nancye said “ The bank is doing so well and expanding into interesting fields of finance which makes this a very exciting time. The new position allows me to contribute to the overall development of Kentucky Bank customer services in Bourbon County.”

Kentucky Bank has headquarters in Paris with offices in six other communities: Winchester, Georgetown, Versailles, Nicholasville, Cynthiana and North Middletown.

April 14, 2004

Kentucky Bancshares Inc, parent company of Kentucky Bank, reported a 2.8% decrease in earnings for the first quarter of 2004.
The company earned $1,149,000 for the quarter ended March 31, or $.41 per share, compared to $1,183,000for last year, or $.42 per share.

In November of 2003 the company acquired First Federal Savings Bank in Cynthiana and immediately merged it into Kentucky Bank.

Kentucky Bank ranks 16th in size among the 221 banks in the state. Among community banks in the greater Lexington area it ranks #2.. It is headquartered in Paris and also has offices in Winchester, Georgetown, Versailles, Nicholasville, Wilmore, Cynthiana and North Middletown.
 

March 03, 2004

Clark Nyberg has joined the bank as Vice President and Manager of Wealth Management.
Kentucky Bank is pleased to announce that Clark Nyberg has joined the bank as Vice President and Manager of Wealth Management. He will serve as Senior Investment Specialist for Kentucky Bank, headquartered at the main office in Paris.

Mr. Nyberg has over 20 years of experience in the investment management, financial planning, and trust areas. He brings with him both a strong investment background and expertise in a range of customized investment portfolio techniques. He has a Series 6,7,63 and 65 Licenses and is a graduate of the Midwest Trust School.

He serves as a board member of the Bluegrass Chapter of the American Red Cross, the Henry Clay Foundation and is an active member of the Lexington Polo Club. Clark is married, with two children, and resides in Lexington.

Kentucky Bancshares is a financial services holding company and is the parent of Kentucky Bank, a Kentucky state chartered commercial bank and trust company. Kentucky Bank is headquartered in Paris, and has additional offices in Paris, North Middletown, Winchester, Georgetown, Versailles, Nicholasville, Wilmore and Cynthiana, Kentucky.

February 18, 2004

Kentucky Bank Parent Increases Dividend
Kentucky Bancshares Inc., parent holding company for Kentucky Bank, announced today an increase in the quarterly dividend to shareholders. The payout will be 21 cents per share, up from 19 cents for each of the previous four quarters. This payment will be made March 31 to shareholders of record March 19, 2004. The company has a record of increasing its dividend each year since 1982.

Kentucky Bancshares President Buckner Woodford made the announcement.
“This marks 22 consecutive years we have been able to increase the dividend. I want to thank all our employees for effort they make and service they provide our customers. We value the relationship we have with our customers. Our bank wouldn’t exist without them.”

Kentucky Bank has offices in Paris, Winchester, Georgetown, Versailles, Nicholasville, Wilmore, Cynthiana and North Middletown, all small communities that surround Lexington. At year-end assets totaled $500 million. It ranks 16th in size among the state’s 221 banks. Shares of the parent holding company trade over the counter and are reported on the OTC Bulletin Board. The symbol is KTYB.OB


January 21, 2004

Kentucky Bancshares Inc, parent company of Kentucky Bank, reported earnings for the fourth quarter of 2003. There was a decrease from the same quarter last year.

The company earned $617,000 for the quarter ended December 31, or $.22 per share. This compares to $1,760,000 for this quarter last year, or $.63 per share. The annual earnings were $4,233,000, or $1.52 per share. The results for 2002 were $5,902,000, or $2.13 per share.

On November 7 the company acquired First Federal Bank in Cynthiana and immediately merged it into Kentucky Bank. Merger related expenses contributed to the lower operating results. With the acquisition company assets surpassed $500 million for the first time.