8-K

                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 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) June 4, 2004

                         Premier Financial Bancorp, Inc.
             (Exact name of registrant as specified in its charter)
            --------------------------------------------------------

          Kentucky                0-20908                 61-1206757
   ---------------------   ---------------------   ------------------------
   (State or other juris-  (Commission File No.)    (IRS Employer Identi-
   diction of corporation)                                fication No.)


                               2883 Fifth Avenue
                        Huntington, West Virginia 25702
        --------------------------------------------------------------
              (Address of principal executive offices) (Zip Code)

      Registrant's telephone number, including area code (304) 525-1600
                              ---------------------

                                 Not Applicable
  ----------------------------------------------------------------------------
          (Former name or former address, if changes since last report)






                    INFORMATION TO BE INCLUDED IN THE REPORT


Item 5.  Other Events

     On June 4, 2004, Premier Financial Bancorp, Inc. (Premier) issued a
news release announcing that it was deferring the quarterly payment on its Trust
Preferred Securities scheduled for June 30, 2004.  The full text of that
press release is attached as Exhibit 99.1.
     Premier exercised its right to defer the payment of interest on its 9.75%
Junior Subordinated Deferrable Interest Debentures related to the Trust
Preferred Securities, for an indefinite period (which can be no longer than
20 consecutive quarterly periods) following the denial by the Federal Reserve
Bank of Cleveland to pay the fourth quarter distribution scheduled for
December 31, 2002.

Item 7.  Financial Statements and Exhibits

    (c) Exhibit 99.1 - Press Release dated June 4, 2004.




     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 hereunto duly authorized.


                                  PREMIER FINANCIAL BANCORP, INC.
                                  -------------------------------
                                           (Registrant)


                                   /s/ Brien M. Chase
                                  -----------------------------------
Date: June 7, 2004                Brien M. Chase, Vice President
                                     and Chief Financial Officer





                                  EXHIBIT INDEX


    Exhibit Number                     Description
    --------------                     -------------------------------------
        99.1                           Press Release dated June 4, 2004,
                                        captioned "Premier Financial Bancorp,
                                        Inc. Continues to Defer Distributions
                                        of Trust Preferred Securities".

EX-99

                                  EXHIBIT 99.1
                                  ------------

NEWS FOR IMMEDIATE RELEASE                        CONTACT:  BRIEN M. CHASE, CFO
JUNE 4, 2004                                                304-525-1600


                         PREMIER FINANCIAL BANCORP, INC.
                        CONTINUES TO DEFER DISTRIBUTIONS
                          OF TRUST PREFERRED SECURITIES

         PREMIER FINANCIAL BANCORP, INC. (PREMIER), HUNTINGTON, WEST VIRGINIA
(NASDAQ/NMS-PFBI) a community bank holding company with seven bank subsidiaries
today announced that it is continuing to exercise its right to defer the
regularly scheduled quarterly distribution on its 9.75% Trust Preferred
Securities (NASDAQ/NMS-PFBIP) including the distribution scheduled for June 30,
2004.

         The decision to continue the deferral was based on management's desire
to continue to hold available funds as part of its recapitalization plan for its
subsidiary, Farmers Deposit Bank (the "Bank"). As previously disclosed, the Bank
is under a Cease & Desist Order due to significant loan loss provisions at the
Bank. In accordance with the order, Premier contributed additional capital to
Farmers to ensure a 5.00% Tier I Leverage Ratio at December 31, 2003. Premier
has also developed a written capital restoration plan in conjunction with the
FDIC that incrementally increases the Bank's Tier I Leverage Ratio to 5.50% at
March 31, 2004; 6.00% at June 30, 2004; 7.00% at September 30, 2004 and 8.00% at
December 31, 2004. At March 31, 2004, the Bank's Tier I Leverage Ratio was
6.18%.

         Beginning with the December 31, 2002 distribution, Premier has
exercised its right to defer the payment of interest on its 9.75% Junior
Subordinated Deferrable Interest Debentures ("Subordinated Debentures") related
to the Trust Preferred Securities for an indefinite period (which can be no
longer than 20 consecutive quarterly periods). Any deferred distributions begin
to accrue interest at an annual rate of 9.75% from their regularly scheduled
payment date which will be paid when the deferred distributions are ultimately
paid. Under a previously disclosed Written Agreement entered into with the
Federal Reserve Bank of Cleveland (FRB) on January 29, 2003, Premier is required
to request approval for the payment of quarterly distributions and any
accumulated deferrals due on the Trust Preferred Securities. Management of
Premier does not expect to resume payments on the Subordinated Debentures or the
Trust Preferred until the Federal Reserve Bank of Cleveland determines that
Premier has achieved adequate and sustained levels of profitability to support
such payments and approves such payments.

         The Trust Preferred Securities have a cumulative provision. Therefore,
in accordance with generally accepted accounting principles, Premier intends to
continue to accrue the monthly cost of the Trust Preferred Securities as it has
since issuance. Premier's management also intends to seek approval of the
Federal Reserve Bank of Cleveland for payment of the regularly scheduled
quarterly distributions on the Trust Preferred Securities and any accumulated
deferrals at a time when it feels Premier has met the profitability desired by
the FRB.

         As part of its on-going strategy to meet the FRB written agreement
objectives, on February 13, 2004, Premier announced the signing of a definitive
agreement to sell its subsidiary Citizens Bank (Kentucky), Inc. in Georgetown,
Kentucky in a cash transaction valued at $14,500,000. Robert Walker, President
and CEO of Premier commenting on the sale 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 Farmers
Deposit Bank; 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.

         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 Premier to be materially different from
any future results, performance or achievements of Premier 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. Premier disclaims 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.