Kentucky Bancshares (KTYB) has reported 25.42 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $8.57 million, or $2.87 a share in the quarter, compared with $6.83 million, or $2.40 a share for the same period last year.
Revenue during the quarter grew 10.10 percent to $43.13 million from $39.17 million in the previous year period. Net interest income for the quarter rose 10.27 percent over the prior year period to $32.13 million. Non-interest income for the quarter rose 5.79 percent over the last year period to $12.15 million.
Kentucky Bancshares has made provision of $1.15 million for loan losses during the quarter, down 20.69 percent from $1.45 million in the same period last year.
Liabilities outpace assets growthTotal assets stood at $1,028.45 million as on Dec. 31, 2016, up 5.52 percent compared with $974.68 million on Dec. 31, 2015. On the other hand, total liabilities stood at $935.48 million as on Dec. 31, 2016, up 5.67 percent from $885.27 million on Dec. 31, 2015.
Loans outpace deposit growthNet loans stood at $648.47 million as on Dec. 31, 2016, up 5 percent compared with $617.60 million on Dec. 31, 2015. Deposits stood at $802.98 million as on Dec. 31, 2016, up 5.80 percent compared with $758.98 million on Dec. 31, 2015. Noninterest-bearing deposit liabilities were $201.40 million or 25.08 percent of total deposits on Dec. 31, 2016, compared with $200.51 million or 26.42 percent of total deposits on Dec. 31, 2015.
Investments stood at $279.36 million as on Dec. 31, 2016, up 3.57 percent or $9.62 million from year-ago. Shareholders equity stood at $92.97 million as on Dec. 31, 2016, up 3.98 percent or $3.56 million from year-ago.
Return on average assets moved up 23 basis points to 0.91 percent in the quarter from 0.68 percent in the last year period. At the same time, return on average equity increased 238 basis points to 9.60 percent in the quarter from 7.22 percent in the last year period.
Book value per share was $31.27 for the quarter, up 5.57 percent or $1.65 compared to $29.62 for the same period last year.
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