PFBI earnings down in first quarter - Beckley, Bluefield & Lewisburg News, Weather, Sports

PFBI earnings down in first quarter

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  • Arrest made in Summers County robberies

    Arrest made in Summers County robberies

    Monday, September 1 2014 1:38 AM EDT2014-09-01 05:38:18 GMT
    Two homes and two businesses in Summers county were taken by surprise early Sunday morning.
    Two homes and two businesses in Summers county were taken by surprise early Sunday morning.
  • Crews are searching for three missing juveniles

    Crews are searching for three missing juveniles

    Sunday, August 31 2014 11:39 PM EDT2014-09-01 03:39:47 GMT
    Three juveniles are missing in Fayette CountyThree juveniles are missing in Fayette County
    Crews in Fayette County are searching for three missing juveniles.Dispatchers say a call came in around 9:30 p.m. Sunday.Police are looking in the area of Cunard Road, which is between Fayetteville and Oak Hill.The Fayette County Sheriffs Department, West Virginia State Police, Jan Care Ambulance, Parks Services, and the Fayetteville Fire Department are all on hand searching the area.The kids were last seen around 2 p.m. Sunday afternoon.If you have any information about these kids whereabout...
    Crews in Fayette County are searching for three missing juveniles.Dispatchers say a call came in around 9:30 p.m. Sunday.Police are looking in the area of Cunard Road, which is between Fayetteville and Oak Hill.The Fayette County Sheriffs Department, West Virginia State Police, Jan Care Ambulance, Parks Services, and the Fayetteville Fire Department are all on hand searching the area.The kids were last seen around 2 p.m. Sunday afternoon.If you have any information about these kids whereabout...
  • Man Arrested in Raleigh County for 1st Degree Murder

    Man Arrested in Raleigh County for 1st Degree Murder

    Sunday, August 31 2014 6:48 PM EDT2014-08-31 22:48:55 GMT
    Joe Collins is arrested on murder chargesJoe Collins is arrested on murder charges
    The Raleigh County Sheriffs Office made an arrest Sunday after a man was murdered in Glen White.Joe Collins was arrested and is being charged with 1st degree murder for the shooting and killing of Larry Totten.The incident occurred Sunday morning at Mr. Tottens residence.
    The Raleigh County Sheriffs Office made an arrest Sunday after a man was murdered in Glen White.Joe Collins was arrested and is being charged with 1st degree murder for the shooting and killing of Larry Totten.The incident occurred Sunday morning at Mr. Tottens residence.
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  • WV workforce lacks oil and gas expertise — for now

    WV workforce lacks oil and gas expertise — for now

    Sunday, August 31 2014 5:00 PM EDT2014-08-31 21:00:19 GMT
    Despite the relatively high amount of natural gas production in West Virginia, less than 3 percent of employees in some of the major occupations that make up the sector's workforce live in the Mountain State.
    Despite the relatively high amount of natural gas production in West Virginia, less than 3 percent of employees in some of the major occupations that make up the sector's workforce live in the Mountain State.
  • Highmark Foundation gives $74K

    Highmark Foundation gives $74K

    Sunday, August 31 2014 3:00 PM EDT2014-08-31 19:00:17 GMT
    The Highmark Foundation recently awarded $74,000 in the form of 16 grants to schools in West Virginia through its “Creating a Healthy School Environment” program that aim at helping schools create innovative, healthy programs during the academic year.
    The Highmark Foundation recently awarded $74,000 in the form of 16 grants to schools in West Virginia through its “Creating a Healthy School Environment” program that aim at helping schools create innovative, healthy programs during the academic year.
  • Energy expert has more than 30 years in the business

    Energy expert has more than 30 years in the business

    Sunday, August 31 2014 1:00 PM EDT2014-08-31 17:00:13 GMT
    Energy Corporation of America, or ECA, Senior Vice President and General Counsel Don Supcoe started working for the company in 1981. ECA was founded in 1963 in Glenville, where it has since grown into a company that stretches throughout the country. 
    Energy Corporation of America, or ECA, Senior Vice President and General Counsel Don Supcoe started working for the company in 1981. ECA was founded in 1963 in Glenville, where it has since grown into a company that stretches throughout the country. 

Premier Financial Bancorp, a bank holding company based in Huntington, on May 1 reported net income of $2.5 million in the first quarter, down from $2.8 million a year ago.

Company officials attributed the decrease to a decrease in interest income (primarily on loans) exceeding a decrease in interest expense, a decrease in non-interest expense, a decrease in the provision for loan losses and an increase in non-interest income.

 "Competition is keen, and we are realizing decreases in our loan yields as a result.  We continue to conservatively evaluate our credit risk, and increased our provision for loan losses accordingly during the quarter," Robert W. Walker, president and CEO, said in the earnings release.

Total assets as of March 31, 2013 were down $9 million, or eight-tenths of 1 percent, from the $1.1 billion of total assets at year-end 2012.  The decrease in total assets since year-end is largely due to an $8.6 million, or 3 percent, decrease in investment securities and a $4.1 million, or six tenths of 1 percent, decrease in total loans outstanding.