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Premier Financial Bancorp posts record Q1 results

Staff Writer | May 3, 2018
Premier Financial Bancorp, a $1.5 billion financial holding company with two community bank subsidiaries, announced record financial results for the first quarter of 2018.
Premier Financial Bancorp
Premier Financial Bancorp   Premier realized net income of $5,133,000
Premier realized net income of $5,133,000 during the quarter ended March 31, 2018, a 40.1% increase from the $3,664,000 of net income reported for the first quarter of 2017.

On a diluted per share basis, Premier earned $0.48 during the first quarter of 2018 compared to $0.34 per share earned during the first quarter of 2017.

The increase in net income in the first three months of 2018 is largely due to an increase in interest income, gains on the liquidation of other real estate owned (OREO) and lower income tax expense.

These positive items more than offset a higher provision for loan losses in 2018.


 

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