Kentucky Bancshares, Inc., parent company of Kentucky Bank, reported an increase of $748,000, a 15% increase, in year to date earnings for 2011 compared to the same time period in 2010.
Earnings are $5,687,000, or fully diluted 2011 earnings per share of $2.09, compared to $4,939,000, or fully diluted earnings per share of $1.81 for the same period of 2010. The increase in earnings is primarily attributable to an increase in net interest income partially offset by a decrease in securities gains and an increase in repossession expenses.
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