PARIS, Ky. (Aug. 7, 2013) — Kentucky Bank’s quarter to date net income increased from $1.78 million as of June 30, 2012 to $1.79 million as of June 30, 2013. Quarter to date diluted earnings per share increased 1.5 percent to $0.66 from $0.65 during the same period last year. The increase in quarterly earnings is primarily because of lower provision for loan losses and higher non-interest income relative to the same period last year.
Total assets at Kentucky Bank were $709.2 million at June 30, 2013, which represents a 5.8 percent increase from the period ended June 30, 2012. The overall net increase in total assets was driven by a 6.2 percent increase in securities and a 7.5 percent increase in net loans which were funded by a 6.0 percent increase in deposits.
Kentucky Bank recently opened its Lexington branch located at 360 East Vine Street.
KTYB stock continues to show increased market value and closed the quarter at $25, compared to $23.03 on March 31, 2013. Based on the end of quarter stock price, the dividend’s annual yield is 3.84 percent.
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