Kentucky
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000-20908
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61-1206757
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(State or other jurisdiction of incorporation organization)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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2883 Fifth Avenue Huntington, West Virginia
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25702
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number (304)
525-1600
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Not Applicable
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Former name or former address, if changes since last report)
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☐ |
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, no par value
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PFBI
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The Nasdaq Stock Market LLC
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NEWS FOR IMMEDIATE RELEASE
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CONTACT:
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BRIEN M. CHASE, CFO
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MAY 2, 2019
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304-525-1600
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For the
Quarter Ended
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||||||||
March 31
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March 31
|
|||||||
2019
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2018
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|||||||
Interest Income
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||||||||
Loans, including fees
|
16,289
|
14,034
|
||||||
Investments and other
|
2,775
|
1,765
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||||||
Total interest income
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19,064
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15,799
|
||||||
Interest Expense
|
||||||||
Deposits
|
2,050
|
1,031
|
||||||
Borrowings and other
|
179
|
133
|
||||||
Total interest expense
|
2,229
|
1,164
|
||||||
Net interest income
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16,835
|
14,635
|
||||||
Provision for loan losses
|
560
|
1,115
|
||||||
Net interest income after provision
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16,275
|
13,520
|
||||||
Non-interest Income
|
||||||||
Service charges on deposit accounts
|
1,094
|
1,094
|
||||||
Electronic banking income
|
822
|
817
|
||||||
Other non-interest income
|
260
|
155
|
||||||
Total non-interest income
|
2,176
|
2,066
|
||||||
Non-Interest Expense
|
||||||||
Salaries and employee benefits
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5,199
|
4,778
|
||||||
Net occupancy and equipment
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1,664
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1,610
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||||||
Outside data processing
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1,384
|
1,249
|
||||||
OREO expenses and writedowns, net
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249
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(886
|
)
|
|||||
Amortization of intangibles
|
227
|
195
|
||||||
Other non-interest expenses
|
1,870
|
2,043
|
||||||
Total non-interest expense
|
10,593
|
8,989
|
||||||
Income Before Taxes
|
7,858
|
6,597
|
||||||
Income Taxes
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1,682
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1,464
|
||||||
NET INCOME
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6,176
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5,133
|
||||||
EARNINGS PER SHARE
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0.42
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0.38
|
||||||
DILUTED EARNINGS PER SHARE
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0.42
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0.38
|
||||||
DIVIDENDS PER SHARE
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0.15
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0.15
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||||||
Charge-offs
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903
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464
|
||||||
Recoveries
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84
|
86
|
||||||
Net charge-offs (recoveries)
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819
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378
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Balances as of
|
||||||||
March 31
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December 31
|
|||||||
2019
|
2018
|
|||||||
ASSETS
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||||||||
Cash and due from banks
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24,542
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22,992
|
||||||
Interest-bearing bank balances
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53,951
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39,911
|
||||||
Federal funds sold
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24,722
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17,872
|
||||||
Securities available for sale
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369,082
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365,731
|
||||||
Loans (net)
|
1,142,395
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1,135,563
|
||||||
Other real estate owned
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14,378
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14,024
|
||||||
Other assets
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46,715
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41,114
|
||||||
Goodwill and other intangible assets
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52,680
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52,908
|
||||||
TOTAL ASSETS
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1,728,465
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1,690,115
|
||||||
LIABILITIES & EQUITY
|
||||||||
Deposits
|
1,453,819
|
1,430,127
|
||||||
Fed funds/repurchase agreements
|
22,025
|
22,062
|
||||||
FHLB borrowings
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7,335
|
8,819
|
||||||
Other borrowings
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1,450
|
2,500
|
||||||
Subordinated debentures
|
5,413
|
5,406
|
||||||
Other liabilities
|
13,196
|
4,472
|
||||||
TOTAL LIABILITIES
|
1,503,238
|
1,473,386
|
||||||
Common stockholders’ equity
|
225,227
|
216,729
|
||||||
TOTAL LIABILITIES &
STOCKHOLDERS’ EQUITY
|
1,728,465
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1,690,115
|
||||||
TOTAL BOOK VALUE PER COMMON SHARE
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15.40
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14.82
|
||||||
Tangible Book Value per Common Share
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11.79
|
11.20
|
||||||
Non-accrual loans
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18,065
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17,448
|
||||||
Loans past due over 90 days and still accruing
|
1,209
|
1,086
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