|   |                                                        |   |
|--------|-------------------------------------------------------------|--------|
|   | 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)            |   | FileNumber) |   | 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                                                                                   |   |
| Unaudited Consolidated Balance    Sheets                                                                            | 3      |
| Unaudited Consolidated Statements of      Income                                                                    | 4      |
| Unaudited Consolidated Statements of      Comprehensive Income                                                      | 5      |
| Unaudited Consolidated Statements of Cash      Flows                                                                | 6      |
| Unaudited Consolidated Statements of Changes in      Shareholders’ Equity                                     | 7      |
| Notes to Unaudited Consolidated Financial      Statements                                                           | 8      |
|                                                                                                                |   |
| Item 2.  Management’s Discussion and Analysis of      Financial Condition and Results of Operations | 14     |
|                                                                                                                |   |
| Item 3.  Quantitative and Qualitative      Disclosures About Market Risk                                  | 23     |
|                                                                                                                |   |
| Item 4.  Controls and      Procedures                                                                     | 24     |
|                                                                                                                |   |
| PART      II - OTHER INFORMATION                                                                                    |   |
|                                                                                                                |   |
| Item 1.  Legal Proceedings                                                                                | 24     |
|                                                                                                                |   |
| Item 2.  Unregistered Sales of Equity      Securities and Use of Proceeds                                 | 24     |
|                                                                                                                |   |
| Item 6.  Exhibits                                                                                         | 25     |
|                                                                                                                |   |
| SIGNATURES                                                                                                          | 27     |

----

Unaudited Consolidated Balance Sheets

|                                                                                                                                                                                                           |   | March      31, |      |   | December      31, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|-----------|--------|-------------------|--------|
| (Dollars      in thousands, except per share data)                                                                                                                                         |   | 2009           |      |   | 2008              |   |
| Assets                                                                                                                                                                                                         |   |           |      |   |              |   |
| Cash      and cash equivalents:                                                                                                                                                                                |   |           |      |   |              |   |
| Cash      and due from banks                                                                                                                                                                                   |   | $              | 57,784    |   |              | $      | 87,656 |   |
| Interest      bearing deposits in other banks                                                                                                                                                                  |   |           | 123,571   |   |              |   | 94,823 |   |
| Federal      funds sold and securities purchased under agreements to    resell                                                                                                                                 |   |           | 45,283    |   |              |   | 8,296 |   |
| Total      cash and cash equivalents                                                                                                                                                                           |   |           | 226,638   |   |              |   | 190,775 |   |
| Investment      securities:                                                                                                                                                                                    |   |           |      |   |              |   |   |   |
| Available      for sale, amortized cost of $533,823 (2009) and $526,698      (2008)                                                                                                                            |   |           | 539,073   |   |              |   | 534,295 |   |
| Held      to maturity, fair value of $1,443 (2009) and $1,667 (2008)                                                                                                                                           |   |           | 1,565     |   |              |   | 1,814 |   |
| Total      investment securities                                                                                                                                                                               |   |           | 540,638   |   |              |   | 536,109 |   |
| Loans,      net of unearned income                                                                                                                                                                             |   |           | 1,318,993 |   |              |   | 1,312,580 |   |
| Allowance      for loan losses                                                                                                                                                                                 |   |           | (17,777   | )      |              |   | (16,828 | ) |
| Loans,      net                                                                                                                                                                                                |   |           | 1,301,216 |   |              |   | 1,295,752 |   |
| Premises      and equipment, net                                                                                                                                                                               |   |           | 42,779    |   |              |   | 43,046 |   |
| Company-owned      life insurance                                                                                                                                                                              |   |           | 35,700    |   |              |   | 35,396 |   |
| Goodwill                                                                                                                                                                                                       |   |           | 52,408    |   |              |   | 52,408 |   |
| Other      intangibles, net                                                                                                                                                                                    |   |           | 6,452     |   |              |   | 6,941 |   |
| Other      assets                                                                                                                                                                                              |   |           | 35,302    |   |              |   | 41,740 |   |
| Total      assets                                                                                                                                                                                              |   | $              | 2,241,133 |   |              | $      | 2,202,167 |   |
| Liabilities                                                                                                                                                                                                    |   |           |      |   |              |   |   |   |
| Deposits:                                                                                                                                                                                                      |   |           |      |   |              |   |   |   |
| Noninterest      bearing                                                                                                                                                                                       |   | $              | 215,624   |   |              | $      | 241,518 |   |
| Interest      bearing                                                                                                                                                                                          |   |           | 1,386,966 |   |              |   | 1,352,597 |   |
| Total      deposits                                                                                                                                                                                            |   |           | 1,602,590 |   |              |   | 1,594,115 |   |
| Federal      funds purchased and other short-term borrowings                                                                                                                                                   |   |           | 71,709    |   |              |   | 77,474 |   |
| Securities      sold under agreements to repurchase and other long-term      borrowings                                                                                                                        |   |           | 286,510   |   |              |   | 286,691 |   |
| Subordinated      notes payable to unconsolidated trusts                                                                                                                                                       |   |           | 48,970    |   |              |   | 48,970 |   |
| Dividends      payable                                                                                                                                                                                         |   |           | 2,027     |   |              |   | 2,427 |   |
| Other      liabilities                                                                                                                                                                                         |   |           | 31,315    |   |              |   | 24,194 |   |
| Total      liabilities                                                                                                                                                                                         |   |           | 2,043,121 |   |              |   | 2,033,871 |   |
| Shareholders’      Equity                                                                                                                                                                                |   |           |      |   |              |   |   |   |
| Preferred      stock, no par value1,000,000      shares authorized; 30,000 Series A shares issued and outstanding at March      31, 2009; Liquidation preference of $30,000 at March 31,    2009               |   |           | 28,086    |   |              |   |   |   |
| Common      stock, par value $.125 per share9,608,000      shares authorized;  7,362,912 and 7,357,362 shares issued and      outstanding at March 31, 2009 and December 31, 2008,      respectively |   |           | 920       |   |              |   | 920 |   |
| Capital      surplus                                                                                                                                                                                           |   |           | 50,253    |   |              |   | 48,222 |   |
| Retained      earnings                                                                                                                                                                                         |   |           | 117,471   |   |              |   | 116,419 |   |
| Accumulated      other comprehensive income                                                                                                                                                                    |   |           | 1,282     |   |              |   | 2,735 |   |
| Total      shareholders’ equity                                                                                                                                                                          |   |           | 198,012   |   |              |   | 168,296 |   |
| Total      liabilities and shareholders’ equity                                                                                                                                                          |   | $              | 2,241,133 |   |              | $      | 2,202,167 |   |

----

Unaudited Consolidated Statements ofIncome

|                                                                                                |   | Three      Months Ended |   |
|-----------------------------------------------------------------------------------------------------|--------|-------------------------|--------|
|                                                                                                |   | March      31,          |   |
| (In      thousands, except per share data)                                                          |   | 2009                    |   |   | 2008 |   |
| Interest      Income                                                                                |   |                    |   |   |   |   |
| Interest      and fees on loans                                                                     |   | $                       | 19,948 |   |   | $ | 22,776 |   |
| Interest      on investment securities:                                                             |   |                    |   |   |   |   |   |   |
| Taxable                                                                                             |   |                    | 5,483  |   |   |   | 5,867 |   |
| Nontaxable                                                                                          |   |                    | 819    |   |   |   | 824 |   |
| Interest      on deposits in other banks                                                            |   |                    | 73     |   |   |   | 14 |   |
| Interest      of federal funds sold and securities purchased under agreements to      resell        |   |                    | 6      |   |   |   | 554 |   |
| Total      interest income                                                                          |   |                    | 26,329 |   |   |   | 30,035 |   |
| Interest      Expense                                                                               |   |                    |   |   |   |   |   |   |
| Interest      on deposits                                                                           |   |                    | 8,580  |   |   |   | 10,952 |   |
| Interest      on federal funds purchased and other short-term borrowings                            |   |                    | 116    |   |   |   | 706 |   |
| Interest      on securities sold under agreements to repurchase and other long-term      borrowings |   |                    | 2,815  |   |   |   | 2,826 |   |
| Interest      on subordinated notes payable to unconsolidated trusts                                |   |                    | 579    |   |   |   | 796 |   |
| Total      interest expense                                                                         |   |                    | 12,090 |   |   |   | 15,280 |   |
| Net      interest income                                                                            |   |                    | 14,239 |   |   |   | 14,755 |   |
| Provision      for loan losses                                                                      |   |                    | 1,676  |   |   |   | 1,102 |   |
| Net      interest income after provision for loan losses                                            |   |                    | 12,563 |   |   |   | 13,653 |   |
| Noninterest      Income                                                                             |   |                    |   |   |   |   |   |   |
| Service      charges and fees on deposits                                                           |   |                    | 2,186  |   |   |   | 2,378 |   |
| Allotment      processing fees                                                                      |   |                    | 1,272  |   |   |   | 1,165 |   |
| Other      service charges, commissions, and fees                                                   |   |                    | 1,047  |   |   |   | 1,107 |   |
| Data      processing income                                                                         |   |                    | 289    |   |   |   | 280 |   |
| Trust      income                                                                                   |   |                    | 435    |   |   |   | 517 |   |
| Investment      securities gains, net                                                               |   |                    | 754    |   |   |   | 366 |   |
| Gains      on sale of mortgage loans, net                                                           |   |                    | 346    |   |   |   | 125 |   |
| Income      from company-owned life insurance                                                       |   |                    | 325    |   |   |   | 301 |   |
| Other                                                                                               |   |                    | 71     |   |   |   | 148 |   |
| Total      noninterest income                                                                       |   |                    | 6,725  |   |   |   | 6,387 |   |
| Noninterest      Expense                                                                            |   |                    |   |   |   |   |   |   |
| Salaries      and employee benefits                                                                 |   |                    | 7,524  |   |   |   | 7,551 |   |
| Occupancy      expenses, net                                                                        |   |                    | 1,323  |   |   |   | 1,136 |   |
| Equipment      expenses                                                                             |   |                    | 755    |   |   |   | 714 |   |
| Data      processing and communication expenses                                                     |   |                    | 1,446  |   |   |   | 1,311 |   |
| Bank      franchise tax                                                                             |   |                    | 557    |   |   |   | 419 |   |
| Deposit      insurance expense                                                                      |   |                    | 452    |   |   |   | 67 |   |
| Correspondent      bank fees                                                                        |   |                    | 303    |   |   |   | 215 |   |
| Amortization      of intangibles                                                                    |   |                    | 488    |   |   |   | 651 |   |
| Other                                                                                               |   |                    | 2,264  |   |   |   | 2,316 |   |
| Total      noninterest expense                                                                      |   |                    | 15,112 |   |   |   | 14,380 |   |
| Income      before income taxes                                                                     |   |                    | 4,176  |   |   |   | 5,660 |   |
| Income      tax expense                                                                             |   |                    | 871    |   |   |   | 1,284 |   |
| Net      income                                                                                     |   |                    | 3,305  |   |   |   | 4,376 |   |
| Dividends      and accretion on preferred shares                                                    |   |                    | (414   | ) |   |   |   |   |
| Net      income available to common shareholders                                                    |   | $                       | 2,891  |   |   | $ | 4,376 |   |
| Per      Common Share                                                                               |   |                    |   |   |   |   |   |   |
| Net      income, basic and diluted                                                                  |   | $                       | .39    |   |   | $ | .59 |   |
| Cash      dividends declared                                                                        |   |                    | .25    |   |   |   | .33 |   |
| Weighted      Average Shares Common Outstanding                                                     |   |                    |   |   |   |   |   |   |
| Basic      and diluted                                                                              |   |                    | 7,357  |   |   |   | 7,374 |   |

----

Unaudited Consolidated Statements of ComprehensiveIncome

|                                                                                                                                                     |   | Three      Months Ended |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|--------|
|                                                                                                                                                     |   | March      31,          |   |
| (In      thousands)                                                                                                                                      |   | 2009                    |   |   | 2008 |   |
| Net      Income                                                                                                                                          |   | $                       | 3,305  |   |   | $ | 4,376 |   |
| Other      comprehensive income:                                                                                                                         |   |                    |   |   |   |   |   |   |
| Net      unrealized holding (loss) gain on available for sale securities arising      during the period, net of tax of $415 and $2,485,    respectively  |   |                    | (770   | ) |   |   | 4,615 |   |
|                                                                                                                                                     |   |                    |   |   |   |   |   |   |
| Reclassification      adjustment for prior period unrealized (gain) loss recognized during      current period, net of tax of $407 and $60, respectively |   |                    | (755   | ) |   |   | (112 | ) |
|                                                                                                                                                     |   |                    |   |   |   |   |   |   |
| Change      in unfunded portion of postretirement benefit obligation, net of tax of      $39 and $44, respectively                                       |   |                    | 72     |   |   |   | 81 |   |
| Other      comprehensive (loss) income                                                                                                                   |   |                    | (1,453 | ) |   |   | 4,584 |   |
| Comprehensive      Income                                                                                                                                |   | $                       | 1,852  |   |   | $ | 8,960 |   |

----

Unaudited Consolidated Statements of Cash Flows

| Three      months ended March 31, (In thousands)                                                |   | 2009   |         |   | 2008   |   |
|-------------------------------------------------------------------------------------------------|--------|--------|--------------|--------|--------|--------|
| Cash      Flows from Operating Activities                                                       |   |   |         |   |   |   |
| Net      income                                                                                 |   | $      | 3,305        |   |   | $      | 4,376 |   |
| Adjustments      to reconcile net income to net cash provided by operating      activities:     |   |   |         |   |   |   |   |   |
| Depreciation      and amortization                                                              |   |   | 1,534        |   |   |   | 1,630 |   |
| Net      amortization of investment security premiums and    (discounts):                       |   |   |         |   |   |   |   |   |
| Available      for sale                                                                         |   |   | (27          | )      |   |   | (244 | ) |
| Held      to maturity                                                                           |   |   | (1           | )      |   |   |   |   |
| Provision      for loan losses                                                                  |   |   | 1,676        |   |   |   | 1,102 |   |
| Noncash      compensation expense                                                               |   |   | 13           |   |   |   | 14 |   |
| Mortgage      loans originated for sale                                                         |   |   | (12,245      | )      |   |   | (5,965 | ) |
| Proceeds      from sale of mortgage loans                                                       |   |   | 13,289       |   |   |   | 5,368 |   |
| Deferred      income tax expense                                                                |   |   | 1,706        |   |   |   | 1,704 |   |
| Gain      on sale of mortgage loans, net                                                        |   |   | (346         | )      |   |   | (125 | ) |
| Gain      on disposal of premises and equipment, net                                            |   |   | (5           | )      |   |   |   |   |
| Loss      (gain) on sale of repossessed assets                                                  |   |   | 18           |   |   |   | (29 | ) |
| Gain      on sale of available for sale investment securities, net                              |   |   | (754         | )      |   |   | (366 | ) |
| Decrease      in accrued interest receivable                                                    |   |   | 803          |   |   |   | 628 |   |
| Income      from company-owned life insurance                                                   |   |   | (304         | )      |   |   | (301 | ) |
| Increase      in other assets                                                                   |   |   | (544         | )      |   |   | (1,513 | ) |
| Decrease      increase in accrued interest payable                                              |   |   | (170         | )      |   |   | (155 | ) |
| Increase      in other liabilities                                                              |   |   | 7,402        |   |   |   | 3,568 |   |
| Net      cash provided by operating activities                                                  |   |   | 15,350       |   |   |   | 9,692 |   |
| Cash      Flows from Investing Activities                                                       |   |   |         |   |   |   |   |   |
| Proceeds      from maturities and calls of investment securities:                               |   |   |         |   |   |   |   |   |
| Available      for sale                                                                         |   |   | 41,164       |   |   |   | 85,807 |   |
| Held      to maturity                                                                           |   |   | 250          |   |   |   | 540 |   |
| Proceeds      from sale of available for sale investment securities                             |   |   | 56,395       |   |   |   | 14,385 |   |
| Purchase      of available for sale investment securities                                       |   |   | (103,903     | )      |   |   | (106,347 | ) |
| Loans      originated for investment, net of principal collected                                |   |   | (8,923       | )      |   |   | 850 |   |
| Additions      to mortgage servicing rights, net                                                |   |   | (62          | )      |   |   | (24 | ) |
| Purchase      of premises and equipment                                                         |   |   | (740         | )      |   |   | (2,231 | ) |
| Proceeds      from sale of repossessed assets                                                   |   |   | 6,348        |   |   |   | 305 |   |
| Proceeds      from sale of equipment                                                            |   |   | 5            |   |   |   |   |   |
| Net      cash used in investing activities                                                      |   |   | (9,466       | )      |   |   | (6,715 | ) |
| Cash      Flows from Financing Activities                                                       |   |   |         |   |   |   |   |   |
| Net      increase in deposits                                                                   |   |   | 8,475        |   |   |   | 67,015 |   |
| Net      (decrease) increase in federal funds purchased and other short-term      borrowings    |   |   | (5,765       | )      |   |   | 5,261 |   |
| Proceeds      from securities sold under agreements to repurchase and other long-term      debt |   |   |         |   |   |   | 10,000 |   |
| Repayments      of securities sold under agreements to repurchase and other long-term      debt |   |   | (181         | )      |   |   | (1,192 | ) |
| Proceeds      from issuance of preferred stock, net of issue costs                              |   |   | 29,961       |   |   |   |   |   |
| Dividends      paid, common and preferred                                                       |   |   | (2,577       | )      |   |   | (2,436 | ) |
| Purchase      of common stock                                                                   |   |   |         |   |   |   | (949 | ) |
| Shares      issued under Employee Stock Purchase Plan                                           |   |   | 66           |   |   |   | 66 |   |
| Net      cash provided by financing activities                                                  |   |   | 29,979       |   |   |   | 77,765 |   |
| Net      increase in cash and cash equivalents                                                  |   |   | 35,863       |   |   |   | 80,742 |   |
| Cash      and cash equivalents at beginning of year                                             |   |   | 190,775      |   |   |   | 79,140 |   |
| Cash      and cash equivalents at end of period                                                 |   | $      | 226,638      |   |   | $      | 159,882 |   |
| Supplemental      Disclosures                                                                   |   |   |         |   |   |   |   |   |
| Cash      paid during the period for:                                                           |   |   |         |   |   |   |   |   |
| Interest                                                                                        |   | $      |  12,260 |   |   | $      | 15,435 |   |
| Income      taxes                                                                               |   |   |         |   |   |   |   |   |
| Transfers      from loans to repossessed assets                                                 |   |   | 1,085        |   |   |   | 718 |   |
| Cash      dividends payable, common and preferred                                               |   |   | 2,027        |   |   |   | 2,434 |   |

----

Unaudited Consolidated Statements of Changes inShareholders’ Equity

| (Dollars      in thousands, except per share data)                                |   |      |   |   |              |   |   |    |   |   |     |   |   | Accumulated   |   |   |                |    |
|-----------------------------------------------------------------------------------|--------|-----------|--------|--------|-------------------|--------|--------|---------|--------|--------|----------|--------|--------|---------------|--------|--------|---------------------|---------|
|                                                                              |   |      |   |   |              |   |   |    |   |   |     |   |   | Other         |   |   | Total               |    |
| Three      months ended                                                           |   | Preferred |   |   | Common      Stock |   |   | Capital |   |   | Retained |   |   | Comprehensive |   |   | Shareholders’ |    |
| March      31, 2009 and 2008                                                      |   | Stock     |   |   | Shares            |   |   | Amount  |   |   | Surplus  |   |   | Earnings      |   |   | Income      (Loss)  |    |   | Equity |   |
| Balance      at January 1, 2009                                                   |   |      |   |   |              | 7,357  |   |    | $      | 920    |     |   | $      | 48,222        |   |   | $                   | 116,419 |   |   | $ | 2,735 |   |   | $ | 168,296 |   |
| Issuance      of 30,000 shares of Series A preferred stock                        |   | $         | 30,000 |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    |   |   |   |   |   |   |   |   | 30,000 |   |
| Initial      unearned discount on preferred stock                                 |   |      | (1,991 | )      |              |   |   |    |   |   |     |   |   |          |   |   |                |    |   |   |   |   |   |   |   |   | (1,991 | ) |
| Issuance      of common stock warrant                                             |   |      |   |   |              |   |   |    |   |   |     |   |   |          | 1,952  |   |                |    |   |   |   |   |   |   |   |   | 1,952 |   |
| Net      income                                                                   |   |      |   |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    | 3,305 |   |   |   |   |   |   |   | 3,305 |   |
| Other      comprehensive income                                                   |   |      |   |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    |   |   |   |   | (1,453 | ) |   |   | (1,453 | ) |
| Cash      dividends declared-common, $.25 per share                               |   |      |   |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    | (1,839 | ) |   |   |   |   |   |   | (1,839 | ) |
| Preferred      stock dividends                                                    |   |      |   |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    | (337 | ) |   |   |   |   |   |   | (337 | ) |
| Preferred      stock discount accretion                                           |   |      | 77     |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    | (77 | ) |   |   |   |   |   |   |   |   |
| Shares      issued pursuant to Employee Stock Purchase Plan                       |   |      |   |   |              |   | 6      |    |   |   |     |   |   |          | 66     |   |                |    |   |   |   |   |   |   |   |   | 66 |   |
| Noncash      compensation expense attributed to Employee Stock Purchase      Plan |   |      |   |   |              |   |   |    |   |   |     |   |   |          | 13     |   |                |    |   |   |   |   |   |   |   |   | 13 |   |
| Balance      at March 31, 2009                                                    |   | $         | 28,086 |   |              |   | 7,363  |    |   | $      | 920      |   |   | $             | 50,253 |   |                | $       | 117,471 |   |   | $ | 1,282 |   |   | $ | 198,012 |   |
|                                                                              |   |      |   |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    |   |   |   |   |   |   |   |   |   |   |
|                                                                              |   |      |   |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    |   |   |   |   |   |   |   |   |   |   |
|                                                                              |   |      |   |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    |   |   |   |   |   |   |   |   |   |   |
| Balance      at January 1, 2008                                                   |   |      |   |   |              |   | 7,385  |    |   | $      | 923      |   |   | $             | 48,176 |   |                | $       | 122,498 |   |   | $ | (3,106 | ) |   | $ | 168,491 |   |
| Net      income                                                                   |   |      |   |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    | 4,376 |   |   |   |   |   |   |   | 4,376 |   |
| Other      comprehensive income                                                   |   |      |   |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    |   |   |   |   | 4,584 |   |   |   | 4,584 |   |
| Cash      dividends declared, $.33 per share                                      |   |      |   |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    | (2,434 | ) |   |   |   |   |   |   | (2,434 | ) |
| Purchase      of common stock                                                     |   |      |   |   |              |   | (38    | )       |   |   | (5       | )      |   |          | (248   | )      |                |    | (696 | ) |   |   |   |   |   |   | (949 | ) |
| Stock      options exercised, including related tax benefits                      |   |      |   |   |              |   |   |    |   |   |     |   |   |          |   |   |                |    |   |   |   |   |   |   |   |   |   |   |
| Shares      issued pursuant to Employee Stock Purchase Plan                       |   |      |   |   |              |   | 3      |    |   |   | 1        |   |   |          | 65     |   |                |    |   |   |   |   |   |   |   |   | 66 |   |
| Stock-based      compensation                                                     |   |      |   |   |              |   |   |    |   |   |     |   |   |          | 14     |   |                |    |   |   |   |   |   |   |   |   | 14 |   |
| Balance      at March 31, 2008                                                    |   |      |   |   |              |   | 7,350  |    |   | $      | 919      |   |   | $             | 48,007 |   |                | $       | 123,744 |   |   | $ | 1,478 |   |   | $ | 174,148 |   |

----

Notes to Unaudited Consolidated Financial Statements

| 1. | Basis      of Presentation and Nature ofOperations |
|----|----------------------------------------------------|

----

| 2. | Reclassifications |
|----|-------------------|

| 3. | Recently      Issued But Not Yet Effective Accounting  Standards |
|----|------------------------------------------------------------------|

|   | · | Affirms that the objective of fair      value when the market for an asset is not active is the price that would      be received to sell the asset in an orderly      transaction. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Clarifies and includes additional      factors for determining whether there has been a significant decrease in      market activity for an asset when the market for that asset is not      active. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Eliminates the proposed      presumption that all transactions are distressed (not orderly) unless      proven otherwise. The FSP instead requires an entity to base its      conclusion about whether a transaction was not orderly on the weight of      the evidence. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Includes an example that provides      additional explanation on estimating fair value when the market activity      for an asset has declinedsignificantly. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Requires an entity to disclose a      change in valuation technique (and the related inputs) resulting from the      application of the FSP and to quantify its effects, if      practicable. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Applies to all fair value      measurements whenappropriate. |
|--------|--------|--------------------------------------------------------------|

|   | · | Changes existing guidance for      determining whether an impairment is other than temporary for debt      securities; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------|

|   | · | Replaces the existing requirement      that the entity’s management assert it has both the intent and ability to      hold an impaired security until recovery with a requirement that      management assert: (a) it does not have the intent to      sell the security; and (b) it is more likely than not it      will not have to sell the security before recovery of its cost      basis; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Incorporates examples of factors      from existing literature that should be considered in determining whether      a debt security is other-than-temporarily  impaired; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Requires that an entity recognize      noncredit losses on held-to-maturity debt securities in other      comprehensive income and amortize that amount over the remaining life of      the security in a prospective manner by offsetting the recorded value of      the asset unless the security is subsequently sold or there are additional      credit losses; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Requires an entity to present the      total other-than-temporary impairment in the statement of earnings with an      offset for the amount recognized in other comprehensive income;      and |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | When adopting FSP FAS 115-2 and      FAS 124-2, an entity is required to record a cumulative-effect adjustment      as of the beginning of the period of adoption to reclassify the noncredit      component of a previously recognized other-temporary impairment from      retained earnings to accumulated other comprehensive income if the entity      does not intend to sell the security and it is not more likely than not      that the entity will be required to sell the security before      recovery. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Require that assets acquired and      liabilities assumed in a business combination that arise from      contingencies be recognized at fair value if fair value can be reasonably      estimated. If fair value of such an asset or liability cannot be      reasonably estimated, the asset or liability would generally be recognized      in accordance with SFAS No. 5, “Accounting for      Contingencies”, and FASB Interpretation No. 14,      “Reasonable      Estimation of the Amount of a Loss”. Further, the FASB decided to      remove the subsequent accounting guidance for assets and liabilities      arising from contingencies from Statement 141(R), and carry forward      without significant revision the guidance in SFAS No. 141. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Eliminate the requirement to      disclose an estimate of the range of outcomes of recognized contingencies      at the acquisition date. For unrecognized contingencies, the FASB decided      to require that entities include only the disclosures required by      Statement 5 and that those disclosures be included in the business      combination footnote. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Require that contingent      consideration arrangements of an acquiree assumed by the acquirer in a      business combination be treated as contingent consideration of the      acquirer and should be initially and subsequently measured at fair value      in accordance with SFAS No.141(R). |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | Adoption      of New Accounting Standards |
|----|-------------------------------------------|

----

|                                                                 |   | Three      Months EndedMarch      31, |   |
|----------------------------------------------------------------------|--------|---------------------------------------|--------|
| (In      thousands, except per share data)                           |   | 2009                                  |   |   | 2008 |   |
|                                                                 |   |                                  |   |   |   |   |
| Net      income, basic and diluted                                   |   | $                                     | 3,305  |   |   | $ | 4,376 |   |
| Preferred      stock dividends and discount accretion                |   |                                  | (414   | ) |   |   |   |   |
| Net      income available to common shareholders, basic and diluted  |   | $                                     | 2,891  |   |   | $ | 4,376 |   |
|                                                                 |   |                                  |   |   |   |   |   |   |
|                                                                 |   |                                  |   |   |   |   |   |   |
| Average      common shares issued and outstanding, basic and diluted |   |                                  | 7,357  |   |   |   | 7,374 |   |
|                                                                 |   |                                  |   |   |   |   |   |   |
| Net      income per common share, basic and diluted                  |   | $                                     | .39    |   |   | $ | .59 |   |
|                                                                 |   |                                  |   |   |   |   |   |   |

----

|   | Level      1: | Quoted      prices for identical assets or liabilities in active markets that the      entity has the ability to access at the measurement  date. |
|--------|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Level      2: | Significant      other observable inputs other than Level 1 prices such as quoted prices      for similar assets or liabilities; quoted prices in markets that are not      active; or other inputs that are observable or can be corroborated by      observable market data. |
|--------|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Level      3: | Significant      unobservable inputs that reflect a reporting entity’s own assumptions      about the assumptions that market participants would use in pricing the      asset or liability. |
|--------|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | U.S.      Treasury securities are priced using dealer quotes from active market      makers and real-time tradingsystems. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------|

|   | · | Marketable      equity securities are priced utilizing real-time data feeds from active      market exchanges for identicalsecurities. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Government-sponsored      agency debt securities, obligations of states and political subdivisions,      corporate bonds, and other similar investment securities are priced with      available market information through processes using benchmark yields,      matrix pricing, prepayment speeds, cash flows, live trading data, and      market spreads sourced from new issues, dealer quotes, and trade prices,      among others sources. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Investments      in the Federal Reserve Bank, Federal Home Loan Bank, and other similar      stock totaling $9.0 million at March 31, 2009 is carried at cost and not      included in the table below, as they are outside the scope of SFAS No.      157. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                               |   |            |    |   | Fair      Value Measurements Using                                      |   |
|------------------------------------------------------------------------------------|--------|-----------------|---------|--------|-------------------------------------------------------------------------|--------|
| (In      thousands)   Available      For Sale Investment Securities |   | Fair      Value |    |   | Quoted      Prices in Active Markets for Identical Assets(Level      1) |   |   | Significant      Other Observable Inputs(Level      2) |   |   | Significant      Unobservable Inputs(Level      3) |   |
|                                                                               |   |            |    |   |                                                                    |   |   |   |   |   |   |   |
| March      31, 2009                                                                |   | $               | 530,043 |   |                                                                    | $      | 27,801 |   |   | $ | 502,242 |   |   | $ | 0 |   |
| December      31, 2008                                                             |   |            | 525,353 |   |                                                                    |   | 10,256 |   |   |   | 515,097 |   |   |   | 0 |   |

----

Item 2.  Management’s Discussion and Analysis of FinancialCondition and Results of Operations

|   | § | The      percentage decrease in per share earnings is greater than the percentage      decrease in net income due to dividends on the preferred stock issued      during the current quarter. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | Net      interest income decreased $516 thousand or 3.5%. Interest income on loans      declined $2.8 million or 12.4% partially offset by lower interest expense      on deposits of $2.4 million or21.7%. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | The      provision for loan losses increased $574 thousand or  52.1%. |
|--------|--------|-----------------------------------------------------------------------|

|   | § | Noninterest      income increased $338 thousand or 5.3% mainly due to a $388 thousand      increase in net gains on the sale of investment securities and a $221      thousand increase in net gains on the sale of loans. Service charges and      fees on deposits decreased $192 thousand or 8.1% in the      comparison. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | Noninterest      expenses increased $732 thousand or 5.1%. Salary and benefit expenses were      relatively unchanged at $7.5 million. Higher expenses occurred across a      broad range of line items. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | Income      tax expense decreased $413 thousand or 32.2%. The effective income tax      rate was 20.9% in the current period compared to 22.7% a year      earlier. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | Return      on average assets (“ROA”) and equity (“ROE”) was .60% and 6.87%,      respectively compared to .82% and 10.28% for the previous-year first      quarter. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | Net      interest spread and margin for the current quarter was 2.75% and 3.03%,      respectively compared to 2.99% and 3.29% a year earlier. The balance sheet      leverage transaction that occurred during 2007 negatively impacted net      interest margin by 13 basis points in the current three      months. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| Quarter      Ended March 31,                                                                                                                      |   | 2009           |           |   | 2008     |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|----------------|--------|----------|--------|
|  (In      thousands)                                                                                                                         |   | AverageBalance |           |   | Interest |   |   | AverageRate |   |   | AverageBalance |   |   | Interest |   |   | AverageRate |   |
| Earning      Assets                                                                                                                               |   |           |           |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Investment      securities                                                                                                                        |   |           |           |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Taxable                                                                                                                                           |   | $              | 431,791        |   |     | $      | 5,483 |   |   |   | 5.15 | % |   | $ | 427,138 |   |   | $ | 5,867 |   |   |   | 5.52 | % |
| Nontaxable1                                                                                                                                       |   |           | 87,853         |   |     |   | 1,188 |   |   |   | 5.48 |   |   |   | 89,147 |   |   |   | 1,180 |   |   |   | 5.32 |   |
| Time      deposits with banks, federal funds sold and securities purchased under      agreements to resell                                        |   |           | 145,397        |   |     |   | 79 |   |   |   | .22 |   |   |   | 73,468 |   |   |   | 568 |   |   |   | 3.11 |   |
| Loans1,2,3                                                                                                                                        |   |           | 1,315,584      |   |     |   | 20,142 |   |   |   | 6.21 |   |   |   | 1,295,913 |   |   |   | 23,078 |   |   |   | 7.16 |   |
| Total      earning assets                                                                                                                         |   |           | 1,980,625      |   |     | $      | 26,892 |   |   |   | 5.51 | % |   |   | 1,885,666 |   |   | $ | 30,693 |   |   |   | 6.55 | % |
| Allowance      for loan losses                                                                                                                    |   |           | (16,859        | )      |     |   |   |   |   |   |   |   |   |   | (14,125 | ) |   |   |   |   |   |   |   |   |
| Total      earning assets, net of allowance for loan losses                                                                                       |   |           | 1,963,766      |   |     |   |   |   |   |   |   |   |   |   | 1,871,541 |   |   |   |   |   |   |   |   |   |
| Nonearning      Assets                                                                                                                            |   |           |           |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash      and due from banks                                                                                                                      |   |           | 58,291         |   |     |   |   |   |   |   |   |   |   |   | 80,178 |   |   |   |   |   |   |   |   |   |
| Premises      and equipment, net                                                                                                                  |   |           | 42,905         |   |     |   |   |   |   |   |   |   |   |   | 39,254 |   |   |   |   |   |   |   |   |   |
| Other      assets                                                                                                                                 |   |           | 160,615        |   |     |   |   |   |   |   |   |   |   |   | 145,680 |   |   |   |   |   |   |   |   |   |
| Total      assets                                                                                                                                 |   | $              | 2,225,577      |   |     |   |   |   |   |   |   |   |   | $ | 2,136,653 |   |   |   |   |   |   |   |   |   |
| Interest      Bearing Liabilities                                                                                                                 |   |           |           |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                                                                                                                          |   |           |           |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest      bearing demand                                                                                                                      |   | $              | 255,562        |   |     | $      | 198 |   |   |   | .31 | % |   | $ | 267,433 |   |   | $ | 672 |   |   |   | 1.01 | % |
| Savings                                                                                                                                           |   |           | 252,008        |   |     |   | 481 |   |   |   | .77 |   |   |   | 259,272 |   |   |   | 1,032 |   |   |   | 1.60 |   |
| Time                                                                                                                                              |   |           | 865,023        |   |     |   | 7,901 |   |   |   | 3.70 |   |   |   | 783,225 |   |   |   | 9,248 |   |   |   | 4.75 |   |
| Federal      funds purchased and other short-term borrowings                                                                                      |   |           | 70,321         |   |     |   | 116 |   |   |   | .67 |   |   |   | 89,870 |   |   |   | 706 |   |   |   | 3.16 |   |
| Securities      sold under agreements to     repurchase      and other long-term     borrowings |   |           |   335,549 |   |     |   |   3,394 |   |   |   |   4.10 |   |   |   |   325,136 |   |   |   |    3,622 |   |   |   |   4.48 |   |
| Total      interest bearing liabilities                                                                                                           |   |           | 1,778,463      |   |     | $      | 12,090 |   |   |   | 2.76 | % |   |   | 1,724,936 |   |   | $ | 15,280 |   |   |   | 3.56 | % |
| Noninterest      Bearing Liabilities                                                                                                              |   |           |           |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commonwealth      of Kentucky deposits                                                                                                            |   |           | 34,187         |   |     |   |   |   |   |   |   |   |   |   | 36,389 |   |   |   |   |   |   |   |   |   |
| Other      demand deposits                                                                                                                        |   |           | 184,978        |   |     |   |   |   |   |   |   |   |   |   | 174,223 |   |   |   |   |   |   |   |   |   |
| Other      liabilities                                                                                                                            |   |           | 32,795         |   |     |   |   |   |   |   |   |   |   |   | 29,871 |   |   |   |   |   |   |   |   |   |
| Total      liabilities                                                                                                                            |   |           | 2,030,423      |   |     |   |   |   |   |   |   |   |   |   | 1,965,419 |   |   |   |   |   |   |   |   |   |
| Shareholders’      equity                                                                                                                   |   |           | 195,154        |   |     |   |   |   |   |   |   |   |   |   | 171,234 |   |   |   |   |   |   |   |   |   |
| Total      liabilities and shareholders’ equity                                                                                             |   | $              | 2,225,577      |   |     |   |   |   |   |   |   |   |   | $ | 2,136,653 |   |   |   |   |   |   |   |   |   |
| Net      interest income                                                                                                                          |   |           |           |   |     |   | 14,802 |   |   |   |   |   |   |   |   |   |   |   | 15,413 |   |   |   |   |   |
| TE      basis adjustment                                                                                                                          |   |           |           |   |     |   | (563 | ) |   |   |   |   |   |   |   |   |   |   | (658 | ) |   |   |   |   |
| Net      interest income                                                                                                                          |   |           |           |   |     | $      | 14,239 |   |   |   |   |   |   |   |   |   |   | $ | 14,755 |   |   |   |   |   |
| Net      interest spread                                                                                                                          |   |           |           |   |     |   |   |   |   |   | 2.75 | % |   |   |   |   |   |   |   |   |   |   | 2.99 | % |
| Impact      of noninterest bearing sources of funds                                                                                               |   |           |           |   |     |   |   |   |   |   | .28 |   |   |   |   |   |   |   |   |   |   |   | .30 |   |
| Net      interest margin                                                                                                                          |   |           |           |   |     |   |   |   |   |   | 3.03 | % |   |   |   |   |   |   |   |   |   |   | 3.29 | % |

----

| (In      thousands)                                                                                                  |   | Variance |       |          | Variance      Attributed to |   |
|----------------------------------------------------------------------------------------------------------------------|--------|----------|------------|---------------|-----------------------------|--------|
| Quarter      Ended March 31,                                                                                         |   |     | 2009/20081 |          |                        | Volume |   |   | Rate |   |
|                                                                                                                 |   |     |       |          |                        |   |   |   |   |   |
| Interest      Income                                                                                                 |   |     |       |          |                        |   |   |   |   |   |
| Taxable      investment securities                                                                                   |   | $        | (384       | )   |                        | $      | 388 |   |   | $ | (772 | )   |
| Nontaxable      investment securities2                                                                               |   |     | 8          |          |                        |   | (90 | )   |   |   | 98 |   |
| Time      deposits with banks, federal funds sold and securities purchased under      agreements to resell           |   |     | (489       | )   |                        |   | 1,928 |   |   |   | (2,417 | )   |
| Loans2                                                                                                               |   |     | (2,936     | )   |                        |   | 2,226 |   |   |   | (5,162 | )   |
| Total      interest income                                                                                           |   |     | (3,801     | )   |                        |   | 4,452 |   |   |   | (8,253 | )   |
| Interest      Expense                                                                                                |   |     |       |          |                        |   |   |   |   |   |   |   |
| Interest      bearing demand deposits                                                                                |   |     | (474       | )   |                        |   | (29 | )   |   |   | (445 | )   |
| Savings      deposits                                                                                                |   |     | (551       | )   |                        |   | (28 | )   |   |   | (523 | )   |
| Time      deposits                                                                                                   |   |     | (1,347     | )   |                        |   | 4,845 |   |   |   | (6,192 | )   |
| Federal      funds purchased and other short-term borrowings                                                         |   |     | (590       | )   |                        |   | (128 | )   |   |   | (462 | )   |
| Securities      sold under agreements to repurchase and     other      long-term borrowings |   |     | (228       | )        |                        |   | 615 |   |   |   | (843 | )   |
| Total      interest expense                                                                                          |   |     | (3,190     | )   |                        |   | 5,275 |   |   |   | (8,465 | )   |
| Net      interest income                                                                                             |   | $        | (611       | )   |                        | $      | (823 | )   |   | $ | 212 |   |
| Percentage      change                                                                                               |   |     | 100.0      | %             |                        |   | 134.7 | % |   |   | (34.7 | )% |

----

----

----

|                                                                 |   | March      31, 2009 |      |   | December      31, 2008 |   |
|----------------------------------------------------------------------|--------|---------------------|-----------|--------|------------------------|--------|
| (Dollars      in thousands)                                          |   | Amount              |      |   | %                      |   |   | Amount |   |   | % |   |
|                                                                 |   |                |      |   |                   |   |   |   |   |   |   |   |
| Commercial,      financial, and agriculture                          |   | $                   | 142,016   |   |                   |   | 10.8 | % |   | $ | 144,788 |   |   |   | 11.0 | % |
| Real      estate - construction                                      |   |                | 270,297   |   |                   |   | 20.5 |   |   |   | 260,524 |   |   |   | 19.9 |   |
| Real      estate mortgage - residential                              |   |                | 445,735   |   |                   |   | 33.8 |   |   |   | 444,487 |   |   |   | 33.9 |   |
| Real      estate mortgage - farmland and other commercialenterprises |   |                | 390,767   |   |                   |   | 29.6 |   |   |   | 390,424 |   |   |   | 29.7 |   |
| Installment                                                          |   |                | 42,545    |   |                   |   | 3.2 |   |   |   | 45,135 |   |   |   | 3.4 |   |
| Lease      financing                                                 |   |                | 27,633    |   |                   |   | 2.1 |   |   |   | 27,222 |   |   |   | 2.1 |   |
| Total                                                                |   | $                   | 1,318,993 |   |                   |   | 100.0 | % |   | $ | 1,312,580 |   |   |   | 100.0 | % |

----

| (In      thousands)                              |   | March      31, 2009 |   |   | December      31,2008 |   |   | Change |   |   | %     |   |
|--------------------------------------------------|--------|--------------------------|--------|--------|-----------------------|--------|--------|--------|--------|--------|-------|--------|
| Nonaccrual                                       |   | $                        | 22,812 |   |                  | $      | 21,545 |   |   | $      | 1,267 |   |   |   | 5.9 | % |
| Past      due 90 days or more and still accruing |   |                     | 6,155  |   |                  |   | 3,913  |   |   |   | 2,242 |   |   |   | 57.3 |   |
| Total      nonperforming loans                   |   | $                        | 28,967 |   |                  | $      | 25,458 |   |   | $      | 3,509 |   |   |   | 13.8 | % |

|                     |   | End      of Period |      |   | Average               |   |
|--------------------------|--------|--------------------|-----------|--------|-----------------------|--------|
| (In      thousands)      |   | March      31,2009 |      |   | December      31,2008 |   |   | Difference |   |   | (Three      Months)March      31,2009 |   |   | (Twelve      Months)December      31,2008 |   |   | Difference |   |
| Noninterest      Bearing |   |               |      |   |                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commonwealth             |   | $                  | 36,923    |   |                  | $      | 65,639 |   |   | $ | (28,716 | ) |   | $ | 34,187 |   |   | $ | 37,025 |   |   | $ | (2,838 | ) |
| Other                    |   |               | 178,701   |   |                  |   | 175,879 |   |   |   | 2,822 |   |   |   | 184,978 |   |   |   | 177,347 |   |   |   | 7,631 |   |
| Total                    |   | $                  | 215,624   |   |                  | $      | 241,518 |   |   | $ | (25,894 | ) |   | $ | 219,165 |   |   | $ | 214,372 |   |   | $ | 4,793 |   |
|                     |   |               |      |   |                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest      Bearing    |   |               |      |   |                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand                   |   | $                  | 254,110   |   |                  | $      | 246,553 |   |   | $ | 7,557 |   |   | $ | 255,562 |   |   | $ | 256,129 |   |   | $ | (567 | ) |
| Savings                  |   |               | 254,000   |   |                  |   | 255,550 |   |   |   | (1,550 | ) |   |   | 252,008 |   |   |   | 261,692 |   |   |   | (9,684 | ) |
| Time                     |   |               | 878,856   |   |                  |   | 850,494 |   |   |   | 28,362 |   |   |   | 865,023 |   |   |   | 793,561 |   |   |   | 71,462 |   |
| Total                    |   | $                  | 1,386,966 |   |                  | $      | 1,352,597 |   |   | $ |  34,369 |   |   | $ | 1,372,593 |   |   | $ | 1,311,382 |   |   | $ | 61,211 |   |
|                     |   |               |      |   |                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      Deposits      |   | $                  | 1,602,590 |   |                  | $      | 1,594,115 |   |   | $ | 8,475 |   |   | $ | 1,591,758 |   |   | $ | 1,525,754 |   |   | $ | 66,004 |   |

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|                   |   | Farmers      Capital Bank Corporation |   |   | RegulatoryMinimum |   |
|------------------------|--------|---------------------------------------|--------|--------|-------------------|--------|
| Tier      1 risk based |   |                                  | 13.61  | %      |              |   | 4.00 | % |
| Total      risk based  |   |                                  | 14.86  | %      |              |   | 8.00 | % |
| Leverage               |   |                                  | 8.63   | %      |              |   | 4.00 | % |

Item 3.  Quantitative and Qualitative DisclosuresAbout Market Risk

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Item 4.  Controls andProcedures

Item 1.  Legal Proceedings

Item 2.  Unregistered Sales of EquitySecurities and Use of Proceeds

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Item 6.  Exhibits

| 3.1    | Articles      of Incorporation and Bylaws of the Registrant (incorporated by reference      to Quarterly Report on Form 10-Q for the quarterly period ended June 30,      2006, the Annual Report on Form 10-K for the fiscal year ended December      31, 1997, the Quarterly Report on Form 10-Q for the quarterly period ended      March 31, 2003, and Current Report on Form 8-K dated January 13,      2009).                                              |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.1    | Junior      Subordinated Indenture, dated as of July 21, 2005, between Farmers Capital      Bank Corporation and Wilmington Trust Company, as Trustee, relating to      unsecured junior subordinated deferrable interest notes that mature in      2035.*                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.2    | Amended      and Restated Trust Agreement, dated as of July 21, 2005, among Farmers      Capital Bank Corporation, as Depositor, Wilmington Trust Company, as      Property and Delaware Trustee, the Administrative Trustees (as named      therein), and the Holders (as defined therein).*                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.3    | Guarantee      Agreement, dated as of July 21, 2005, between Farmers Capital Bank      Corporation, as Guarantor, and Wilmington Trust Company, as Guarantee      Trustee.*                                                                                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.4    | Junior      Subordinated Indenture, dated as of July 26, 2005, between Farmers Capital      Bank Corporation and Wilmington Trust Company, as Trustee, relating to      unsecured junior subordinated deferrable interest notes that mature in      2035.*                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.5    | Amended      and Restated Trust Agreement, dated as of July 26, 2005, among Farmers      Capital Bank Corporation, as Depositor, Wilmington Trust Company, as      Property and Delaware Trustee, the Administrative Trustees (as named      therein), and the Holders (as defined therein).*                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.6    | Guarantee      Agreement, dated as of July 26, 2005, between Farmers Capital Bank      Corporation, as Guarantor, and Wilmington Trust Company, as Guarantee      Trustee.*                                                                                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.7    | Indenture,      dated as of August 14, 2007 between Farmers Capital Bank Corporation, as      Issuer, and Wilmington Trust Company, as Trustee, relating to      fixed/floating rate junior subordinated debt due 2037.*                                                                                                                                                                                                                                         |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.8    | Amended      and Restated Declaration of Trust, dated as of August 14, 2007, by Farmers      Capital Bank Corporation, as Sponsor, Wilmington Trust Company, as      Delaware and Institutional Trustee, the Administrative Trustees (as named      therein), and the Holders (as defined therein).*                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.9    | Guarantee      Agreement, dated as of August 14, 2007, between Farmers Capital Bank      Corporation, as Guarantor, and Wilmington Trust Company, as Guarantee      Trustee.*                                                                                                                                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.10   | Form      of Certificate for Fixed Rate Cumulative Perpetual Preferred Stock, Series      A(incorporated      by reference to the Current Report on Form 8-K dated January 13,      2009).                                                                                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.11   | Warrant      for Purchase of Shares of Common Stock (incorporated      by reference to the Current Report on Form 8-K dated January 13,      2009).                                                                                                                                                                                                                                                                                                              |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.1   | Agreement      and Plan of Merger, Dated July 1, 2005, as Amended, by and among Citizens      Bancorp, Inc., Citizens Acquisition Subsidiary Corp, and Farmers Capital      Bank Corporation(incorporated      by reference to Appendix A of Registration Statement filed on Form S-4 on      October 11, 2005).                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.2   | Amended      and Restated Plan of Merger of Citizens National Bancshares, Inc. with and      into FCBC Acquisition Subsidiary, LLC (incorporated by reference to      Appendix A of Proxy Statement for Special Meeting of Shareholders of      Citizens National Bancshares, Inc. and Prospectus in connection with an      offer of up to 600,000 shares of its common stock of Farmers Capital Bank      Corporation filed on Form 424B3 on August 7,  2006). |

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|         |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|--------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.3         | Stock      Purchase Agreement Dated June 1, 2006 by and among Farmers Capital Bank      Corporation, Kentucky Banking Centers, Inc. and Citizens First Corporation      (incorporated by reference to Quarterly Report on Form 10-Q for the      quarterly period ended September 30, 2008).                                                                                                                                              |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.4         | Letter      Agreement, dated January 9, 2009, between Farmers Capital Bank Corporation      and the United States Department of the Treasury, with respect to the      issuance and sale of the Series A Preferred Stock and the Warrant, and      Securities Purchase Agreement – Standard Terms attached thereto as Exhibit      A(incorporated      by reference to the Current Report on Form 8-K dated January 13,      2009). |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 31.1**       | CEO Certification Pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                          |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 31.2      ** | CFO Certification Pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                          |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 32**         | CEO & CFO Certifications Pursuant to Section      906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                               |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                      |

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SIGNATURES

| Date:  |        5-6-09 |   |        /s/ G. Anthony Busseni                |
|--------|--------------------|--------|---------------------------------------------------|
|   |               |   | G.      Anthony Busseni,                          |
|   |               |   | President      and CEO                            |
|   |               |   | (Principal      Executive Officer)                |
|   |               |   |                                              |
| Date:  |        5-6-09 |   |        /s/ Doug Carpenter                    |
|   |               |   | C.      Douglas Carpenter,                        |
|   |               |   | Senior      Vice President, Secretary, and CFO    |
|   |               |   | (Principal      Financial and Accounting Officer) |

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