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):  October 25, 2011



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


   Kentucky                  000-52598              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 October 25, 2011 the Registrant issued a press release
announcing its earnings for the third quarter of 2011.  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 October 25, 2011, announcing
earnings for the third quarter of 2011.


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: October 25, 2011              By      /s/ Gregory J. Dawson___
                                                    Gregory J. Dawson
                                                    Chief Financial Officer

EX-99

Exhibit 99.1


October 25, 2011

                           Press Release

KENTUCKY BANCSHARES, INC. REPORTS EARNINGS FOR THIRD QUARTER OF 2011

Paris, Kentucky - Kentucky Bancshares, Inc., parent company of Kentucky
Bank, reported a $757,000 increase, a 20% increase, in year to date
earnings for 2011 compared to the same time period in 2010.  Earnings
are $4,457,000, or fully diluted 2011 earnings per share of $1.65,
compared to $3,700,000, or fully diluted earnings per share of $1.35
for the same period of 2010.  The increase is primarily attributable to
an increase in net interest income of $3.2 million for the nine months
ended September 30, 2011 compared to the same time period in 2010.  In
addition, securities gains decreased $777 thousand for the nine months
ended September 30, 2011 compared to the same time period in 2010.

Earnings for the third quarter were $1,774,000, or $0.67 per share
assuming dilution, an increase of 13%.  For the same period last year
earnings were $1,574,000, or $0.57 per share assuming dilution.  The
increase is primarily attributable to an increase in net interest
income of $1.3 million for the three months ended September 30, 2011
compared to the same time period in 2010.  In addition, securities
gains decreased $787 thousand for the three months ended September 30,
2011 compared to the same time period in 2010.

Kentucky Bank ranks 15th in size among the 179 banks headquartered in
the Commonwealth of Kentucky.  Kentucky Bank is headquartered in Paris
and also has offices in Cynthiana, Georgetown, Morehead, Nicholasville,
Sandy Hook, Versailles, Wilmore and Winchester.


Contact:  Gregory J. Dawson
          Chief Financial Officer
          859-987-1795