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Section 1: 8-K (8-K)

ktyb_8K dividend

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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):  February 28, 2019

 

KENTUCKY BANCSHARES, INC.

(Exact Name of Registrant as specified in Charter)

 

 

 

 

 

 

Kentucky

    

000-52598

    

61-0993464

(State or other

 

(Commission

 

(IRS Employer

jurisdiction of incorporation)

 

File Number)

 

Identification No.)

 

 

 

 

 

 

P.O. Box 157, Paris, Kentucky
(Address of principal executive offices)

40362-0157
(Zip code)

 

(859)987-1795

(Registrant's telephone number, including area code)

 

N/A

(Former name or former address, if changed 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:

 

☐  Written communications pursuant to Rule 425 under the Securities Act (17CFR230.425)

 

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

 

☐  Pre-commencement communications pursuant 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))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 


 

INFORMATION TO BE INCLUDED IN THE REPORT

 

Item 8.01 – Other Events

 

On February 28, 2019 the Registrant announced the quarterly cash dividend to shareholders.  The dividend will be 17 cents per share, an increase from 16 cents per share for the previous quarter.  This payment will be made March 29, 2019, to shareholders of record March 15, 2019.

 

 

Item 9.01 – Financial Statements and Exhibits

 

(d)Exhibits

 

Exhibit No. Description

 

99.1Press Release issued on February 28, 2019, announcing the dividend for the first quarter of 2019.

 

 

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Forward-Looking Statements

 

Except for historical information contained herein, the discussion in this Report may include certain forward looking statements based upon management expectations.  Actual results and experience could differ materially from the anticipated results or other expectations expressed in the forward-looking statements.  Factors which could cause future results to differ from these expectations include the following:  change in economic conditions in the markets we serve; changes in laws or regulatory enforcement; monetary and fiscal policies of the federal government; changes in  interest rates; demand for financial services; the impact of our continuing growth strategy; and other factors, including various “risk factors” set forth in our most recent annual report on Form 10-K and in other reports we file from time to time with the Securities and Exchange Commission.  Our annual report on Form 10-K and these other reports are available publicly on the SEC website, www.sec.gov, and on the Company's website, www.kybank.com.

 

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SIGNATURE

 

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 thereunto duly authorized.

 

April

 

 

 

 

    

KENTUCKY BANCSHARES, INC.

 

 

 

 

 

 

Date: February 28, 2019

 

By

/s/ Gregory J. Dawson

 

 

 

Gregory J. Dawson

 

 

 

Chief Financial Officer

 

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Section 2: EX-99.1 (EX-99.1)

ktyb_Ex99_1 dividend

Exhibit 99.1

 

February 28, 2019

 

Press Release

 

Kentucky Bank Parent Company Announces Dividend Increase

 

Paris, Kentucky - Kentucky Bancshares, Inc., parent holding company for Kentucky Bank, announced today a 6.25% increase in the quarterly dividend to shareholders.  The payout will be 17 cents per share, up from 16 cents for the previous quarter.  This payment will be made March 29, 2019 to shareholders of record March 15, 2019.

 

“We are pleased that 2018 was another record year for the Company.  We attained record earnings of $12.4 million (a 16% increase over 2017) and record assets of $1.09 billion.   The positive growth in earnings and assets should continue to add value for our shareholders,” said Louis Prichard, President and Chief Executive Officer.

 

Kentucky Bank is headquartered in Paris and also has offices in 11 Kentucky communities.  It ranks 11 in size among the 148 banks headquartered in the Commonwealth of Kentucky.  Shares of the parent holding company trade under the symbol of KTYB.

 

Contact:  Gregory J. Dawson

               Chief Financial Officer

 


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