Premier Financial Bancorp Inc. in Huntington, W.Va, said Friday that it had earned $1.8 million in the first quarter, up 31% from a year earlier. Earnings per share rose 31%, to 34 cents.
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The $550 million-asset company attributed the increase to higher net interest income and lower overhead. Net interest income was up 5.9%, to $5.5 million, and net overhead costs fell 7%, to $3.1 million.
Premier took a $36,000 loan-loss provision after negative provisions in both the fourth quarter and the first quarter of 2006.
