12 am: 56°FMostly Clear

2 am: 49°FClear

4 am: 47°FClear

6 am: 48°FSunny

More Weather

Premier Financial reports on 3Q

Nov. 02, 2012 @ 12:00 AM

HUNTINGTON -- Premier Financial Bancorp Inc. reported income and earnings up for the quarter ending Sept. 30.

The bank holding company had income of $2.4 million of 37 cents per diluted share, a 33 percent increase over the $1.8 million posted in the third quarter of 2011, according to a news release. Premier earned $0.37 for the quarter, compared to $0.19 per share for the same period last year. For the first nine months of 2012, Premier had net income of $7,3 million (90 cents per diluted share), compared to $4.5 million (45 cents per diluted share) for the nine months of 2011.

"It should be noted that while not included in our reported net income, our per share results were impacted in a positive way by the discount realized upon our August 2012 redemption of 10,252 shares of our Series A Preferred Stock owned by the U.S. Treasury," said President and CEO Robert W. Walker. "The effect was to increase our earnings per share by approximately 11 cents for the third quarter and first nine months of 2012."

Walker also noted Premier resumed paying a quarterly cash dividend to common shareholders at the end of September.

Premier is a $1.1 billion bank holding company with two bank subsidiaries and locations in West Virginia, Ohio, Kentucky, Maryland, Virginia and Washington, D.C.