8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


_________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): April 21, 2005



                       KENTUCKY BANCSHARES, INC.
          (Exact Name of Registrant as specified in Charter)


   Kentucky                   33-96358              61-0993464
 (State or other            (Commission            (IRS Employer
  jurisdiction of           File Number)        Identification No.)
  incorporation)


P.O. Box 157, Paris, Kentucky                          40362-0157
(Address of principal executive offices)               (Zip code)


(859)987-1795
(Registrant's telephone number, including area code)

N/A
(Former name or former address, if changed since last report.)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:

?  Written communications pursuant to Rule 425 under the Securities Act
(17CFR230.425)

?  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)

?  Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

?  Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
INFORMATION TO BE INCLUDED IN THE REPORT

  Item 2.02. Results of Operations and Financial Condition

      On April 21, 2005 the Registrant issued a press release
announcing its earnings for the first quarter of 2005.  A copy of this
press release is attached as Exhibit 99.1.

The information in this Form 8-K and Exhibit 99.1 attached hereto
shall not be deemed filed for purposes of Section 18 of the Securities
Exchange Act of 1934, nor shall it be deemed incorporated by reference
in any filing under the Securities Act of 1933, except as shall be
expressly set forth by specific reference.

  Item 9.01.  Financial Statements and Exhibits

Exhibit 99.1 - Press release dated April 21, 2005, announcing
earnings for the first quarter of 2005.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.

KENTUCKY BANCSHARES, INC.



Date: April 21, 2005                By      /s/ Gregory J. Dawson___
         Gregory J. Dawson
         Chief Financial Officer

EX-99

Exhibit 99.1

April 21, 2005

                           Press Release


	Kentucky Bancshares, Inc., parent company of Kentucky Bank,
reported a 15.9% increase in earnings for the first quarter of 2005.
The Company earned $1,333,000 for the quarter ended March 31, 2005 or
$0.50 per share, compared to $1,150,000 for March 31, 2004, or $0.41
per share.

	Assets of Kentucky Bancshares, Inc. were $518,389,000 as of the
end of the quarter.  Kentucky Bank, the only subsidiary of the parent
company, ranks 11th largest among the 218 banks in the state.
Headquartered in Paris, Kentucky Bank also has offices in Winchester,
Georgetown, Versailles, Nicholasville, Wilmore, Cynthiana, and North
Middletown.