SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 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) December 5, 2002.

                         Premier Financial Bancorp, Inc.
             (Exact name of registrant as specified in its charter)
            --------------------------------------------------------

          Kentucky                0-20908                 61-1206757
   ---------------------   ---------------------   ------------------------
   (State or other juris-  (Commission File No.)    (IRS Employer Identi-
   diction of corporation)                                fication No.)


                               2883 Fifth Avenue
                        Huntington, West Virginia 25702
        --------------------------------------------------------------
              (Address of principal executive offices) (Zip Code)

      Registrant's telephone number, including area code (304) 525-1600
                              ---------------------

                                 Not Applicable
  ----------------------------------------------------------------------------
          (Former name or former address, if changes since last report)






                    INFORMATION TO BE INCLUDED IN THE REPORT


Item 5.  Other Events

     On December 5, 2002, Premier Financial Bancorp, Inc. (Premier issued a
news release announcing that the fourth quarter distribution of PFBI Capital
Trust 9.75% Preferred Securities (ffC/Rust Preferred Securities") scheduled for
December 31, 2002, as well as future distributions on the Trust Preferred
Securities, will be deferred.
     The announcement by Premier follows the denial by the Federal Reserve
Bank of Cleveland of a request by Premier to continue the distributions. Premier
accordingly exercised its right to defer the payment of interest on its 9.75%
Junior Subordinated Deferrable Interest Debentures related to the Trust
Preferred Securities, for an indefinite period (which can be no longer than 20
consecutive quarterly periods).



Item 7.  Financial Statements and Exhibits

    (c) Exhibit 99.1 - Press Release dated December 5, 2002.



     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 hereunto duly authorized.


                                  PREMIER FINANCIAL BANCORP, INC.
                                  -------------------------------
                                           (Registrant)


                                   /s/ Brien M. Chase
                                  -----------------------------------
Date: December 5, 2002            Brien M. Chase, Vice President
                                     and Chief Financial Officer





                                  EXHIBIT INDEX


    Exhibit Number                     Description
    --------------                     -------------------------------------
        99.1                           Press Release dated December 5, 2002,
                                        captioned "Premier Financial Bancorp,
                                        Inc. Elects to Defer Distributions on
                                        Trust Preferred Securities".