“We are fortunate that Porter Bancorp raised over $32 million in new capital last year. Our capital ratios are much stronger than many of our peer banks and exceed those specified in the Consent Order. We believe our capital levels provide PBI Bank with a solid foundation to build on for our future,” concluded Ms. Bouvette.
Porter Bancorp expects to file a copy of the Consent Order on Form 8-K with the Securities and Exchange Commission when the agreement is finalized and signed by PBI Bank’s Board of Directors, the FDIC and KDFI.
About Porter Bancorp, Inc.
Porter Bancorp, Inc., a bank holding company headquartered in Louisville, Kentucky, had $1.7 billion in assets as of March 31, 2011. Through Porter’s subsidiary PBI Bank, it operates 18 full service banking offices in Kentucky. Porter Bancorp’s common stock is traded on the Nasdaq Global Market under the symbol “PBIB.”Forward-Looking Statements Statements in this press release relating to Porter Bancorp’s plans, objectives, expectations or future performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations. Porter Bancorp’s actual results in future periods may differ materially from those currently expected due to various risks and uncertainties, including those discussed under “Risk Factors” in the Company’s Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission. The forward-looking statements in this press release are made as of the date of the release and Porter Bancorp does not assume any responsibility to update these statements. PBIB-G PBIB-F
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