EXHIBIT 99.1
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NEWS FOR IMMEDIATE RELEASE                          CONTACT: BRIEN M. CHASE, CFO
FEBRUARY 13, 2004                                            304-525-1600

                  PREMIER FINANCIAL BANCORP, INC. ANNOUNCES
                AGREEMENT TO SELL CITIZENS BANK (KENTUCKY), INC.

HUNTINGTON, W.Va., Feb. 13 /PRNewswire-FirstCall/ -- PREMIER FINANCIAL BANCORP,
INC.(NASDAQ-NMS:PFBI) (Nasdaq: PFBI) ("Premier"), a community bank holding
company with seven individually managed bank subsidiaries announced the signing
of a definitive agreement with Farmers Capital Bank
Corporation(NASDAQ-SMALL:FFKT) ("Farmers") whereby Farmers would acquire
Citizens Bank (Kentucky), Inc. in Georgetown, Kentucky from Premier in a cash
transaction valued at $14,500,000.

Commenting on the proposed acquisition, Tony Busseni, President of Farmers,
stated, "We are excited about this opportunity to expand our operations in
Georgetown and Scott County where our affiliate, Farmers Bank & Trust, has been
in existence since 1850. This acquisition will improve our ability to provide
financial services to an even larger number of residents of one of the more
rapidly growing communities in Kentucky."

Robert Walker, President of Premier, said, "The decision to sell an affiliate
was a strategic one for Premier. The transaction will more than restore the cash
reserves used by Premier in 2003 to recapitalize one of our affiliate banks;
will reduce the company's total assets while increasing its total capital thus
strengthening Premier's balance sheet and will generate taxable income to be
used as an offset to Premier's tax loss carryforward. We were also pleased to
reach an agreement with a locally owned banking company in an effort to continue
the local community banking environment for our customers."

Pending the required approvals from the appropriate regulatory authorities and
subject to the satisfaction of the conditions set forth in the definitive
agreement, this transaction is expected to close during the second quarter of
2004. As of December 31, 2003, Citizens Bank had total deposits of $65,000,000.

Farmers is a financial holding company headquartered in Frankfort, Kentucky. The
company operates 23 banking locations in 13 communities throughout Kentucky, a
leasing company, a data processing company and an insurance company and had
total deposits of $1,068,000,000 as of December 31, 2003. Its stock is publicly
traded on the National Association of Securities Dealers Automated Quotation
System (NASDAQ) Small Cap Market tier, under the symbol FFKT.

Premier is a bank holding company headquartered in Huntington, West Virginia,
operating seven banks located in West Virginia, Ohio and Kentucky. Premier's
stock trades on the NASDAQ under the symbol PFBI.

Certain Statements contained in this news release, including without limitation
statements including the word "believes," "anticipates," "intends," "expects" or
words of similar import, constitute "forward-looking statements" within the
meaning of section 21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"). Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause the actual results,
performance or achievements of the parties to be materially different from any
future results, performance or achievements of the parties expressed or implied
by such forward-looking statements. Such factors include, among others, general
economic and business conditions, changes in business strategy or development
plans and other factors referenced in this press release. Given these
uncertainties, prospective investors are cautioned not to place undue reliance
on such forward-looking statements. The parties disclaim any obligation to
update any such factors or to publicly announce the results of any revisions to
any of the forward-looking statements contained herein to reflect future events
or developments.