Premier Financial Bancorp, Inc. Receives Approval to Pay TARP Dividends

Premier Financial Bancorp PFBI announced that it received approval from the Federal Reserve Bank of Richmond and the Federal Reserve Board of Governors to pay the regularly scheduled quarterly dividend due May 16, 2011 and the prior two deferred dividends on Premier's Series A Preferred Stock owned by the U.S. Treasury under the Troubled Asset Relief Program. In a letter dated May 13, 2011, the FRB and Board of Governors approved Premier's April 19, 2011 request to pay the current dividend due May 16, 2011 and the prior two deferred dividends for a total of $834,450, plus any accrued interest.