8-K

                                 UNITED STATES
                       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) November 3, 2004


                         Premier Financial Bancorp, Inc.
            --------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

                                    Kentucky
            --------------------------------------------------------
                 (State or Other Jurisdiction of Incorporation)

                  0-20908                     61-1206757
            --------------------------------------------------------
            (Commission File No.)   (IRS Employer Identification No.)


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

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

                                 Not Applicable
  ----------------------------------------------------------------------------
          (Former name or former address, if changes 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 (see General Instruction A.2 below):

  |_|  Written communication pursant to Rule 425 under the Securities Act
       (17 CFR 230.425)

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

  |_|  Pre-commencement communications pursant 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 8.01.  Other Items

     On November 3, 2004, Premier issued a press release regarding the release
of its subsidiary bank, Citizens Deposit Bank and Trust, from a formal Written
Agreement with the Federal Reserve Bank of Cleveland.  The agreement was
terminated because Citizens Deposit Bank and Trust has fully satisfied the
provisions of the Written Agreement. The full text of that press release is
furnished as Exhibit 99.1.



Item 9.01.  Financial Statements and Exhibits

    (c) Exhibit 99.1 - Press Release dated November 3, 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: November 4, 2004            Brien M. Chase, Vice President
                                     and Chief Financial Officer





                                  EXHIBIT INDEX


    Exhibit Number                     Description
    --------------                     -------------------------------------
        99.1                           Press Release dated November 3, 2004,
                                        captioned "Citizens Deposit Bank &
                                        Trust Released From Written Agreement"

EX-99

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

NEWS FOR IMMEDIATE RELEASE                          CONTACT: BRIEN M. CHASE, CFO
NOVEMBER 3, 2004                                             (304) 525-1600

                          CITIZENS DEPOSIT BANK & TRUST
                         RELEASED FROM WRITTEN AGREEMENT

PREMIER FINANCIAL BANCORP, INC. (PREMIER), HUNTINGTON, WEST VIRGINIA
(NASDAQ/NMS-PFBI), a $551 million community bank holding company with six bank
subsidiaries, announced that it has received notification from the Federal
Reserve Bank of Cleveland (FRB) indicating that the September 29, 2000 written
agreement between the FRB and Citizens Deposit Bank & Trust (Citizens Deposit)
has been terminated by the FRB effective October 25, 2004.

In a letter dated October 29, 2004, the FRB indicated that Citizens Deposit,
Premier's wholly owned $89 million bank subsidiary located in Vanceburg,
Kentucky, has fully satisfied the provisions of the Written Agreement dated
September 29, 2000 and that the FRB has terminated that written agreement. This
final notification follows an August 23, 2004 letter from the Kentucky Office of
Financial Institutions (KOFI) releasing Citizens Deposit from a concurrent
agreement with the KOFI.

Robert W. Walker, President and CEO of Premier commented, "We are certainly
pleased with this acknowledgement of the effort and progress we have made at
Citizens Deposit to restore the bank's financial position. I would like to
congratulate and thank all of the employees of the bank for their efforts and
dedication to the bank's restoration. I also wish to acknowledge the bank's
current President, Mike Mineer, its former President, Danny Coffey, and its
interim President, Jeanne Hubbard for their leadership throughout the term of
the agreement."

This is the second of Premier's subsidiary banks to be released from a
regulatory agreement. In a joint letter dated August 9, 2004, the Federal
Deposit Insurance Corporation (FDIC) and the KOFI indicated that the Bank of
Germantown had complied with an agreement between the organizations dated August
21, 2001 and accordingly that agreement was thereby terminated.

Mike Mineer, President of Citizens Deposit commented, "Karen Ravencraft
(President of the Bank of Germantown) and I are excited about the releases of
our institutions from any regulatory action. This paves the way for us to
complete the final steps in our plans to merge these two institutions together.
We believe the merger will expand the opportunities for our customers to bank
with us while we take advantage of operational efficiencies and reduce our
combined operating costs."

Citizens Deposit has also announced plans to open a branch location in
Maysville, Kentucky, located between the Citizens Deposit and Bank of Germantown
markets. The location is conveniently located along the AA highway and will
provided greater access to customers of both banks once the merger is complete.

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.