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Net income was $3.3 million in the quarter compared to $4.4 million in the first quarter of 2008. Earnings per share were 39 cents in the quarter, down from 59 cents a year ago.
The company, which has 37 locations throughout Central and Northern Kentucky, said net interest income fell 3.5 percent, while interest income on loans fell 12.4 percent. The company also increased its provision for loan losses by $574,000, an increase of 52.1 percent compared to a year ago.
Reach Scott Sloan at (859) 231-1447 or 1-800-950-6397, Ext. 1447.
To see more of the Lexington Herald-Leader, or to subscribe to the newspaper, go to http://www.kentucky.com. Copyright (c) 2009, The Lexington Herald-Leader, Ky. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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