Farmers
Capital Bank Corporation
|
||
(Exact
name of registrant as specified in its charter)
|
Kentucky
|
0-14412
|
61-1017851
|
||||
(State
or other jurisdiction
|
(Commission
|
(IRS
Employer
|
||||
of
incorporation)
|
File
Number)
|
Identification
No.)
|
P.O.
Box 309 Frankfort, KY
|
40602
|
|||
(Address
of principal executive offices)
|
(Zip
Code)
|
Not
Applicable
|
||
(Former
name or former address, if changed since last report.)
|
PART
I - FINANCIAL INFORMATION
|
|
Item
1. Financial Statements
|
|
PART
II - OTHER INFORMATION
|
25
|
March
31,
|
December
31,
|
||||||
(In thousands, except share data)
|
2007
|
2006
|
|||||
Assets
|
|||||||
Cash
and cash equivalents:
|
|||||||
Cash
and due from banks
|
$
|
94,721
|
$
|
115,640
|
|||
Interest
bearing deposits in other banks
|
1,857
|
1,783
|
|||||
Federal
funds sold and securities purchased under agreements to
resell
|
107,658
|
39,405
|
|||||
Total
cash and cash equivalents
|
204,236
|
156,828
|
|||||
Investment
securities:
|
|||||||
Available
for sale, amortized cost of $333,104 (2007) and $328,499
(2006)
|
331,738
|
326,485
|
|||||
Held
to maturity, fair value of $7,357 (2007) and $7,849 (2006)
|
7,312
|
7,788
|
|||||
Total
investment securities
|
339,050
|
334,273
|
|||||
Loans,
net of unearned income
|
1,222,543
|
1,197,836
|
|||||
Allowance
for loan losses
|
(11,284
|
)
|
(11,999
|
)
|
|||
Loans,
net
|
1,211,259
|
1,185,837
|
|||||
Premises
and equipment, net
|
38,829
|
37,775
|
|||||
Company-owned
life insurance
|
33,263
|
32,929
|
|||||
Goodwill
|
52,445
|
42,822
|
|||||
Other
intangibles, net
|
12,087
|
9,755
|
|||||
Other
assets
|
23,585
|
24,147
|
|||||
Total
assets
|
$
|
1,914,754
|
$
|
1,824,366
|
|||
Liabilities
|
|||||||
Deposits:
|
|||||||
Noninterest
bearing
|
$
|
223,446
|
$
|
242,938
|
|||
Interest
bearing
|
1,247,309
|
1,211,882
|
|||||
Total
deposits
|
1,470,755
|
1,454,820
|
|||||
Federal
funds purchased and securities sold under agreements to
repurchase
|
144,981
|
67,941
|
|||||
Other
short-term borrowings
|
8,341
|
8,777
|
|||||
Subordinated
notes payable to unconsolidated trusts
|
25,774
|
25,774
|
|||||
Long-term
debt
|
62,020
|
62,218
|
|||||
Dividends
payable
|
2,606
|
3,472
|
|||||
Other
liabilities
|
19,730
|
22,923
|
|||||
Total
liabilities
|
1,734,207
|
1,645,925
|
|||||
Shareholders’
Equity
|
|||||||
Common
stock, par value $.125 per share
|
|||||||
9,608,000
shares authorized; 9,395,645 and 9,388,900
|
|||||||
shares
issued at March 31, 2007 and December 31, 2006,
respectively
|
1,174
|
1,174
|
|||||
Capital
surplus
|
56,868
|
56,679
|
|||||
Retained
earnings
|
169,390
|
167,387
|
|||||
Treasury
stock, at cost; 1,511,948 and 1,493,448 shares
|
|||||||
at
March 31, 2007 and December 31, 2006, respectively
|
(42,971
|
)
|
(42,399
|
)
|
|||
Accumulated
other comprehensive loss
|
(3,914
|
)
|
(4,400
|
)
|
|||
Total
shareholders’ equity
|
180,547
|
178,441
|
|||||
Total
liabilities and shareholders’ equity
|
$
|
1,914,754
|
$
|
1,824,366
|
Three
Months Ended
|
|||||||
March
31,
|
|||||||
(In
thousands, except per share data)
|
2007
|
2006
|
|||||
Interest
Income
|
|||||||
Interest
and fees on loans
|
$
|
22,537
|
$
|
17,166
|
|||
Interest
on investment securities:
|
|||||||
Taxable
|
2,624
|
2,385
|
|||||
Nontaxable
|
857
|
943
|
|||||
Interest
on deposits in other banks
|
14
|
12
|
|||||
Interest
of federal funds sold and securities purchased under agreements to
resell
|
1,370
|
377
|
|||||
Total
interest income
|
27,402
|
20,883
|
|||||
Interest
Expense
|
|||||||
Interest
on deposits
|
10,951
|
6,750
|
|||||
Interest
on federal funds purchased and securities sold under agreements to
repurchase
|
1,113
|
912
|
|||||
Interest
on other borrowed funds
|
795
|
511
|
|||||
Interest
on subordinated notes payable to unconsolidated trusts
|
448
|
394
|
|||||
Total
interest expense
|
13,307
|
8,567
|
|||||
Net
interest income
|
14,095
|
12,316
|
|||||
Provision
for loan losses
|
(496
|
)
|
(34
|
)
|
|||
Net
interest income after provision for loan losses
|
14,591
|
12,350
|
|||||
Noninterest
Income
|
|||||||
Service
charges and fees on deposits
|
2,856
|
2,095
|
|||||
Allotment
processing fees
|
957
|
697
|
|||||
Other
service charges, commissions, and fees
|
621
|
693
|
|||||
Data
processing income
|
277
|
425
|
|||||
Trust
income
|
488
|
452
|
|||||
Gains
on sale of mortgage loans, net
|
117
|
179
|
|||||
Income
from company-owned life insurance
|
347
|
359
|
|||||
Other
|
4
|
156
|
|||||
Total
noninterest income
|
5,667
|
5,056
|
|||||
Noninterest
Expense
|
|||||||
Salaries
and employee benefits
|
7,510
|
6,879
|
|||||
Occupancy
expenses, net
|
1,066
|
928
|
|||||
Equipment
expenses
|
781
|
716
|
|||||
Data
processing and communication expenses
|
1,155
|
1,155
|
|||||
Bank
franchise tax
|
514
|
438
|
|||||
Correspondent
bank fees
|
159
|
168
|
|||||
Amortization
of intangibles
|
818
|
446
|
|||||
Other
|
2,335
|
1,777
|
|||||
Total
noninterest expense
|
14,338
|
12,507
|
|||||
Income
from continuing operations before income taxes
|
5,920
|
4,899
|
|||||
Income
tax expense from continuing operations
|
1,310
|
910
|
|||||
Income
from continuing operations
|
4,610
|
3,989
|
|||||
Income
from discontinued operations before income tax expense
|
567
|
||||||
Income
tax expense from discontinued operations
|
165
|
||||||
Income
from discontinued operations
|
402
|
||||||
Net
income
|
$
|
4,610
|
$
|
4,391
|
|||
Net
Income Per Common Share
|
|||||||
Income
from continuing operations - basic and diluted
|
$
|
.58
|
$
|
.54
|
|||
Income
from discontinued operations - basic and diluted
|
.05
|
||||||
Net
income per common share - basic and diluted
|
$
|
.58
|
$
|
.59
|
|||
Weighted
Average Shares Outstanding
|
|||||||
Basic
|
7,893
|
7,385
|
|||||
Diluted
|
7,908
|
7,413
|
Three
Months Ended
|
|||||||
March
31,
|
|||||||
(In
thousands)
|
2007
|
2006
|
|||||
Net
Income
|
$
|
4,610
|
$
|
4,391
|
|||
Other
comprehensive income (loss):
|
|||||||
Unrealized
net holding gain (loss) on available for sale securities arising
during
the period, net of tax of $227 and $(648), respectively
|
421
|
(1,203
|
)
|
||||
Amortization
of net actuarial loss, transition obligation, and prior service costs
attributed to the Company’s postretirement benefit plans, net of tax of
$35
|
65
|
||||||
Other
comprehensive income (loss)
|
486
|
(1,203
|
)
|
||||
Comprehensive
Income
|
$
|
5,096
|
$
|
3,188
|
Three
months ended March 31, (In thousands)
|
2007
|
2006
|
|||||
Cash
Flows from Operating Activities
|
|||||||
Net
income
|
$
|
4,610
|
$
|
4,391
|
|||
Adjustments
to reconcile net income to net cash provided by operating
activities:
|
|||||||
Depreciation
and amortization
|
1,789
|
1,323
|
|||||
Net
amortization of investment security premiums and
(discounts):
|
|||||||
Available
for sale
|
(337
|
)
|
(17
|
)
|
|||
Held
to maturity
|
(6
|
)
|
|||||
Provision
for loan losses
|
(496
|
)
|
(34
|
)
|
|||
Noncash
compensation expense
|
17
|
34
|
|||||
Mortgage
loans originated for sale
|
(6,007
|
)
|
(8,065
|
)
|
|||
Proceeds
from sale of mortgage loans
|
4,384
|
7,704
|
|||||
Deferred
income tax expense
|
2,466
|
1,268
|
|||||
Gains
on sale of mortgage loans, net
|
(117
|
)
|
(179
|
)
|
|||
Loss
on sale of premises and equipment, net
|
105
|
||||||
Decrease
in accrued interest receivable
|
278
|
106
|
|||||
Income
from company-owned life insurance
|
(334
|
)
|
(346
|
)
|
|||
Decrease
(increase) in other assets
|
1,230
|
(936
|
)
|
||||
Increase
in accrued interest payable
|
12
|
108
|
|||||
Decrease
in other liabilities
|
(6,806
|
)
|
(887
|
)
|
|||
Net
cash provided by discontinued operating activities
|
567
|
||||||
Net
cash provided by operating activities
|
794
|
5,031
|
|||||
Cash
Flows from Investing Activities
|
|||||||
Proceeds
from maturities and calls of investment securities:
|
|||||||
Available
for sale
|
98,529
|
10,946
|
|||||
Held
to maturity
|
476
|
1,710
|
|||||
Proceeds
from sale of available for sale investment securities
|
667
|
664
|
|||||
Purchase
of available for sale investment securities
|
(103,464
|
)
|
(7,190
|
)
|
|||
Loans
originated for investment, net of principal collected
|
(23,186
|
)
|
(23,373
|
)
|
|||
Payment
of prior year accrued purchase price-Citizens Bancorp,
Inc.
|
(21,846
|
)
|
|||||
Purchase
of PNC Military Allotment operations, net of cash acquired
|
(1,876
|
)
|
|||||
Purchase
price refinements of previous acquisitions
|
(27
|
)
|
(28
|
)
|
|||
Additions
to mortgage servicing rights, net
|
(15
|
)
|
(41
|
)
|
|||
Purchase
of premises and equipment
|
(2,285
|
)
|
(1,220
|
)
|
|||
Proceeds
from sale of equipment
|
198
|
||||||
Net
cash provided by discontinued investing activities
|
13,817
|
||||||
Net
cash used in investing activities
|
(30,983
|
)
|
(26,561
|
)
|
|||
Cash
Flows from Financing Activities
|
|||||||
Net
increase in deposits
|
5,065
|
8,848
|
|||||
Net
increase in securities sold under agreements to repurchase
|
77,040
|
8,371
|
|||||
Proceeds
from other long-term debt
|
5,000
|
||||||
Repayments
of long-term debt
|
(5,198
|
)
|
(496
|
)
|
|||
Net
decrease in other short-term borrowings
|
(436
|
)
|
(635
|
)
|
|||
Dividends
paid
|
(3,473
|
)
|
(2,245
|
)
|
|||
Purchase
of common stock
|
(572
|
)
|
(328
|
)
|
|||
Shares
issued under Employee Stock Purchase Plan
|
68
|
59
|
|||||
Stock
options exercised
|
103
|
58
|
|||||
Net
cash used in discontinued financing activities
|
(5,274
|
)
|
|||||
Net
cash provided by financing activities
|
77,597
|
8,358
|
|||||
Net
increase (decrease) in cash and cash equivalents
|
47,408
|
(13,172
|
)
|
||||
Less:
net increase in cash and cash equivalents of discontinued
operations
|
(9,110
|
)
|
|||||
Net
increase (decrease) in cash and cash equivalents from continuing
operations
|
47,408
|
(22,282
|
)
|
||||
Cash
and cash equivalents from continuing activities at beginning of
year
|
156,828
|
131,018
|
|||||
Cash
and cash equivalents from continuing activities at end of
period
|
$
|
204,236
|
$
|
108,736
|
|||
Supplemental
Disclosures
|
|||||||
Cash
paid during the period for:
|
|||||||
Interest
|
$
|
13,590
|
$
|
9,328
|
|||
Income
taxes
|
3,700
|
800
|
|||||
Transfers
from loans to repossessed assets
|
136
|
201
|
|||||
Cash
dividend declared and unpaid
|
2,606
|
2,432
|
(In
thousands, except per share data)
|
Accumulated
|
||||||||||||||||||||||||
Other
|
Total
|
||||||||||||||||||||||||
Three
months ended
|
Common
Stock
|
Capital
|
Retained
|
Treasury
Stock
|
Comprehensive
|
Shareholders’
|
|||||||||||||||||||
March
31, 2007 and 2006
|
Shares
|
Amount
|
Surplus
|
Earnings
|
Shares
|
Amount
|
Income
|
Equity
|
|||||||||||||||||
Balance
at January 1, 2007
|
9,388
|
$
|
1,174
|
$
|
56,679
|
$
|
167,387
|
1,493
|
$
|
(42,399
|
)
|
$
|
(4,400
|
)
|
$
|
178,441
|
|||||||||
Net
income
|
4,610
|
4,610
|
|||||||||||||||||||||||
Other
comprehensive income
|
486
|
486
|
|||||||||||||||||||||||
Cash
dividends declared, $.33 per share
|
(2,607
|
)
|
(2,607
|
)
|
|||||||||||||||||||||
Purchase
of common stock
|
18
|
(572
|
)
|
(572
|
)
|
||||||||||||||||||||
Stock
options exercised
|
4
|
104
|
104
|
||||||||||||||||||||||
Shares
issued pursuant to Employee Stock Purchase Plan
|
3
|
68
|
68
|
||||||||||||||||||||||
Stock-based
compensation
|
17
|
17
|
|||||||||||||||||||||||
Balance
at March 31, 2007
|
9,395
|
$
|
1,174
|
$
|
56,868
|
$
|
169,390
|
1,511
|
$
|
(42,971
|
)
|
$
|
(3,914
|
)
|
$
|
180,547
|
|||||||||
Balance
at January 1, 2006
|
8,856
|
$
|
1,107
|
$
|
39,829
|
$
|
156,796
|
1,467
|
$
|
(41,579
|
)
|
$
|
(1,917
|
)
|
$
|
154,236
|
|||||||||
Net
income
|
4,391
|
4,391
|
|||||||||||||||||||||||
Other
comprehensive loss
|
(1,203
|
)
|
(1,203
|
)
|
|||||||||||||||||||||
Cash
dividends declared, $.33 per share
|
(2,433
|
)
|
(2,433
|
)
|
|||||||||||||||||||||
Purchase
of common stock
|
10
|
(328
|
)
|
(328
|
)
|
||||||||||||||||||||
Stock
options exercised, including related tax benefits
|
2
|
1
|
57
|
58
|
|||||||||||||||||||||
Shares
issued pursuant to Employee Stock Purchase Plan
|
2
|
59
|
59
|
||||||||||||||||||||||
Stock-based
compensation
|
42
|
42
|
|||||||||||||||||||||||
Balance
at March 31, 2006
|
8,860
|
$
|
1,108
|
$
|
39,987
|
$
|
158,754
|
1,477
|
$
|
(41,907
|
)
|
$
|
(3,120
|
)
|
$
|
154,822
|
1.
|
Basis
of Presentation and Nature of
Operations
|
2. | Discontinued Operations |
3.
|
Reclassifications
|
4.
|
Recently
Issued Accounting
Standards
|
5.
|
Net
Income Per Common Share
|
Three
Months Ended
March
31,
|
|||||||
(In
thousands, except per share data)
|
2007
|
2006
|
|||||
Net
income, basic and diluted
|
$
|
4,610
|
$
|
4,391
|
|||
Average
shares outstanding
|
7,893
|
7,385
|
|||||
Effect
of dilutive stock options
|
15
|
28
|
|||||
Average
diluted shares outstanding
|
7,908
|
7,413
|
|||||
Net
income per share, basic and diluted
|
$
|
.58
|
$
|
.59
|
|||
Continuing
Operations
|
|||||||
Income
from continuing operations, basic and diluted
|
$
|
4,610
|
$
|
3,989
|
|||
Income
per share from continuing operations, basic and diluted
|
.58
|
.54
|
|||||
Discontinued
Operations
|
|||||||
Income
from discontinued operations, basic and diluted
|
$
|
402
|
|||||
Income
per share from discontinued operations, basic and diluted
|
.05
|
||||||
(In
thousands)
|
January
12, 2007
|
|||
Assets
|
||||
Cash
|
$
|
10,870
|
||
Customer
list intangible
|
1,275
|
|||
Core
deposit intangible
|
1,874
|
|||
Goodwill
|
9,575
|
|||
Total
Assets
|
$
|
23,594
|
||
Liabilities
|
||||
Deposits
|
$
|
10,870
|
||
Net
Assets Acquired
|
$
|
12,724
|
||
Quarter
Ended March 31,
|
2007
|
2006
|
|||||||||||||||||
(In
thousands)
|
Average
Balance
|
Interest
|
Average
Rate
|
Average
Balance
|
|
Interest4
|
|
Average
Rate
|
|||||||||||
Earning
Assets
|
|||||||||||||||||||
Investment
securities
|
|||||||||||||||||||
Taxable
|
$
|
222,203
|
$
|
2,624
|
4.79
|
%
|
$
|
238,406
|
$
|
2,385
|
4.06
|
%
|
|||||||
Nontaxable1
|
89,940
|
1,227
|
5.53
|
93,555
|
1,368
|
5.93
|
|||||||||||||
Time
deposits with banks, federal funds sold and securities purchased
under
agreements to resell
|
112,403
|
1,384
|
4.99
|
45,528
|
389
|
3.47
|
|||||||||||||
Loans1,2,3
|
1,199,064
|
22,753
|
7.70
|
970,199
|
17,272
|
7.22
|
|||||||||||||
Total
earning assets
|
1,623,610
|
$
|
27,988
|
6.99
|
%
|
1,347,688
|
$
|
21,414
|
6.44
|
%
|
|||||||||
Allowance
for loan losses
|
(11,983
|
)
|
(11,234
|
)
|
|||||||||||||||
Total
earning assets, net of
|
|||||||||||||||||||
allowance
for loan losses
|
1,611,627
|
1,336,454
|
|||||||||||||||||
Nonearning
Assets
|
|||||||||||||||||||
Cash
and due from banks
|
78,028
|
79,929
|
|||||||||||||||||
Premises
and equipment, net
|
38,497
|
29,001
|
|||||||||||||||||
Other
assets
|
116,199
|
90,162
|
|||||||||||||||||
Assets
of discontinued operations
|
142,141
|
||||||||||||||||||
Total
assets
|
$
|
1,844,351
|
$
|
1,677,687
|
|||||||||||||||
Interest
Bearing Liabilities
|
|||||||||||||||||||
Deposits
|
|||||||||||||||||||
Interest
bearing demand
|
$
|
267,487
|
$
|
1,033
|
1.57
|
%
|
$
|
269,202
|
$
|
922
|
1.39
|
%
|
|||||||
Savings
|
246,212
|
1,402
|
2.31
|
212,510
|
975
|
1.86
|
|||||||||||||
Time
|
726,591
|
8,516
|
4.75
|
532,585
|
4,853
|
3.70
|
|||||||||||||
Federal
funds purchased and securities sold under agreements to
repurchase
|
96,111
|
1,113
|
4.70
|
78,829
|
912
|
4.69
|
|||||||||||||
Other
borrowed funds
|
95,987
|
1,243
|
5.25
|
75,667
|
905
|
4.85
|
|||||||||||||
Total
interest bearing liabilities
|
1,432,388
|
$
|
13,307
|
3.77
|
%
|
1,168,793
|
$
|
8,567
|
2.97
|
%
|
|||||||||
Noninterest
Bearing Liabilities
|
|||||||||||||||||||
Commonwealth
of Kentucky deposits
|
36,537
|
36,525
|
|||||||||||||||||
Other
demand deposits
|
175,527
|
154,746
|
|||||||||||||||||
Other
liabilities
|
21,783
|
19,832
|
|||||||||||||||||
Liabilities
of discontinued operations
|
143,577
|
||||||||||||||||||
Total
liabilities
|
1,666,235
|
1,523,473
|
|||||||||||||||||
Shareholders’
equity
|
178,116
|
154,214
|
|||||||||||||||||
Total
liabilities and shareholders’
|
|||||||||||||||||||
equity
|
$
|
1,844,351
|
$
|
1,677,687
|
|||||||||||||||
Net
interest income
|
14,681
|
12,847
|
|||||||||||||||||
TE
basis adjustment
|
(586
|
)
|
(531
|
)
|
|||||||||||||||
Net
interest income
|
$
|
14,095
|
$
|
12,316
|
|||||||||||||||
Net
interest spread
|
3.22
|
%
|
3.47
|
%
|
|||||||||||||||
Impact
of noninterest bearing sources
|
|||||||||||||||||||
of
funds
|
.45
|
.39
|
|||||||||||||||||
Net
interest margin
|
3.67
|
%
|
3.86
|
%
|
(In
thousands)
|
Variance
|
Variance Attributed to
|
||||||||
Quarter
Ended March 31,
|
2007/20061,3
|
Volume
|
Rate
|
|||||||
Interest
Income
|
||||||||||
Taxable
investment securities
|
$
|
239
|
$
|
(889
|
)
|
$
|
1,128
|
|||
Nontaxable
investment securities2
|
(141
|
)
|
(51
|
)
|
(90
|
)
|
||||
Time
deposits with banks, federal funds sold and securities purchased
under
agreements to resell
|
995
|
766
|
229
|
|||||||
Loans2
|
5,481
|
4,276
|
1,205
|
|||||||
Total
interest income
|
6,574
|
4,102
|
2,472
|
|||||||
Interest
Expense
|
||||||||||
Interest
bearing demand deposits
|
111
|
(41
|
)
|
152
|
||||||
Savings
deposits
|
427
|
169
|
258
|
|||||||
Time
deposits
|
3,663
|
2,059
|
1,604
|
|||||||
Federal
funds purchased and securities sold under agreements to
repurchase
|
201
|
199
|
2
|
|||||||
Other
borrowed funds
|
338
|
259
|
79
|
|||||||
Total
interest expense
|
4,740
|
2,645
|
2,095
|
|||||||
Net
interest income
|
$
|
1,834
|
1,457
|
$
|
377
|
|||||
Percentage
change
|
100.0
|
%
|
79.4
|
%
|
20.6
|
%
|
March
31, 2007
|
December
31, 2006
|
||||||||||||
(Dollars
in thousands)
|
Amount
|
%
|
Amount
|
%
|
|||||||||
Commercial,
financial, and agriculture
|
$
|
172,269
|
14.1
|
%
|
$
|
197,613
|
16.5
|
%
|
|||||
Real
estate - construction
|
211,234
|
17.3
|
176,779
|
14.7
|
|||||||||
Real
estate mortgage - residential
|
387,912
|
31.7
|
381,081
|
31.8
|
|||||||||
Real
estate mortgage farmland and other commercial enterprises
|
362,827
|
29.7
|
351,793
|
29.4
|
|||||||||
Installment
|
55,092
|
4.5
|
57,116
|
4.8
|
|||||||||
Lease
financing
|
33,209
|
2.7
|
33,454
|
2.8
|
|||||||||
Total
|
$
|
1,222,543
|
100.0
|
%
|
$
|
1,197,836
|
100.0
|
%
|
Farmers
Capital
|
Regulatory
|
||||||
Bank
Corporation
|
Minimum
|
||||||
Tier
1 risk based
|
11.08
|
%
|
4.00
|
%
|
|||
Total
risk based
|
11.94
|
%
|
8.00
|
%
|
|||
Leverage
|
8.15
|
%
|
4.00
|
%
|
·
|
Revised
our procedures related to internal control over financial reporting
with
respect to any complex or non-routine change (including changes in
compensation policies) to require the Chief Financial Officer or
other
senior financial reporting employee to document in writing the results
of
their evaluation of potential accounting changes and financial reporting
changes that would occur from such complex or non-routine
change.
|
·
|
Implemented
a monitoring system for the differences between drafts and final
documentation relating to complex or non-routine changes to evaluate
whether the accounting and financial reporting requirements have
changed.
|
·
|
Increased
communication by and among our senior management and financial reporting
employees and other third parties relevant to the disclosure
process.
|
·
|
Retained
our procedures of ensuring that our Chief Financial Officer be made
aware
of and involved in any complex or non-routine contemplated change
so that
any potential tax, accounting and financial reporting issues may
be
evaluated.
|
·
|
Retained
our procedure of encouraging our Chief Financial Officer and other
senior
financial reporting employees to contact outside financial experts
and
consultants, if deemed advisable, to discuss potential tax, accounting
and/or financial reporting issues regarding a complex or non-routine
contemplated change.
|
Period
|
Total
Number of Shares Purchased
|
Average
Price Paid per Share
|
Total
Number of Shares Purchased as Part of Publicly Announced Plans or
Programs
|
Maximum
Number of Shares that May Yet Be Purchased Under the Plans or
Programs
|
|||||||||
January
1, 2007 to January 31, 2007
|
153,015
|
||||||||||||
February
1, 2007 to February 28, 2007
|
8,000
|
$
|
31.45
|
8,000
|
145,015
|
||||||||
March
1, 2007 to March 31, 2007
|
10,500
|
30.49
|
10,500
|
134,515
|
|||||||||
Total
|
18,500
|
$
|
30.91
|
18,500
|
List
of Exhibits
|
||
3i.
|
Amended
and Restated Articles of Incorporation of Farmers Capital Bank Corporation
(incorporated by reference to Quarterly Report on Form 10-Q for the
quarterly period ended June 30, 2006).
|
|
3ii.
|
Amended
and Restated By-Laws of Farmers Capital Bank Corporation (incorporated
by
reference to Annual Report of Form 10-K for the fiscal year ended
December
31, 1997.
|
|
3iia
|
Amendments
to By-Laws of Farmers Capital Bank Corporation (incorporated by reference
to Quarterly Report of Form 10-Q for the quarterly period ended March
31,
2003).
|
|
Date:
|
May 7, 2007 | /s/ G. Anthony Busseni | |
G.
Anthony Busseni,
|
|||
President
and CEO
|
|||
(Principal
Executive Officer)
|
|||
Date:
|
5-7-07 | /s/ C Douglas Carpenter | |
C.
Douglas Carpenter,
|
|||
Senior
Vice President, Secretary, and CFO
|
|||
(Principal
Financial and Accounting Officer)
|