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The company has also reported a 4.2% increase in loans to $1.4 billion and a 12.5% increase in deposits to $1.4 billion compared with the first quarter of 2008.
Net interest income increased 5.5% to $12 million for the three months ended March 31, 2009, an increase of $624,000, compared with $11.3 million for the same period in 2008.
Maria Bouvette, president and CEO of Porter Bancorp, said: "We remain very proactive in reviewing our loan portfolio during this difficult credit cycle by quickly resolving credit issues as soon as they are identified. We remain focused on minimizing losses to protect our earnings and capital base."
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