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) February 24, 2003
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 February 24, 2003, Premier Financial Bancorp, Inc. (Premier) issued a
news release announcing that it intends to redeem $3,000,000 (120,000 shares) of
its PFBI Capital Trust 9.75% Preferred Securities ("Trust Preferred Securities")
as of March 31, 2003. Premier also announced that the first quarter
distribution on the remaining Trust Preferred Securities scheduled for
March 31, 2003, 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 resume the distributions. Premier
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) following the denial by the Federal Reserve Bank of
Cleveland to pay the fourth quarter distribution scheduled for
December 31, 2002.
Item 7. Financial Statements and Exhibits
(c) Exhibit 99.1 - Press Release dated February 24, 2003.
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: February 24, 2003 Brien M. Chase, Vice President
and Chief Financial Officer
EXHIBIT INDEX
Exhibit Number Description
-------------- -------------------------------------
99.1 Press Release dated February 24, 2003,
captioned "Premier Financial Bancorp,
Inc. to Redeem $3,000,000 of Trust
Preferred Securities".