SUBSEQUENT EVENT

3 Months Ended

Mar. 31, 2015

SUBSEQUENT EVENT [Abstract]

SUBSEQUENT EVENT

NOTE  9 – SUBSEQUENT EVENT

On May 6, 2015, Premier purchased the Warrant from the U.S. Treasury for $5,675,000.  Premier borrowed $4,000,000 on its line of credit with the Bankers Bank of Kentucky and used $1,675,000 of its cash and cash equivalents to complete the purchase.  The purchase reduces shareholders’ equity and regulatory capital by the $5,675,000 purchase price but will reduce the dilutive effect of potential additional common shares by approximately 415,000 shares.

Shown below is a summary of the pro forma March 31, 2015 regulatory capital ratios for the Company assuming the purchase of Warrant.

	Pro Forma Mar 31, 2015			Regulatory Minimum Requirements			To Be Considered Well Capitalized
Common Equity Tier 1 Capital (to Risk-Weighted Assets)		12.6	%		4.5	%		6.5	%
Tier 1 Capital (to Risk-Weighted Assets)		12.6	%		6.0	%		8.0	%
Total Capital (to Risk-Weighted Assets)		13.8	%		8.0	%		10.0	%
Tier 1 Capital (to Average Assets)		9.0	%		4.0	%		5.0	%