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Premier Financial reports first quarter results

May. 02, 2013 @ 11:41 PM

HUNTINGTON -- Premier Financial Bancorp Inc. reported income of $2.5 million or 28 cents per share for the first quarter ending March 31.

That reflects an 11.5 percent decrease from the net income for first quarter of 2012, according to a news release.

"We are very pleased with our first quarter earnings and per share results," President and CEO Robert W. Walker said. "Our operating expenses continue to decline. Interest expense continues to decrease due to the extended low interest rate environment."

The decrease in interest income from the previous year was largely due to the recognition in 2012 of deferred interest and discounts on the successful resolution of non-performing assets, the news release said.

Premier is a $1.1 billion bank holding company with two bank subsidiaries and locations in West Virginia, Ohio, Kentucky, Virginia, Maryland and the District of Columbia.