Kentucky Bancshares Inc. reported earnings results for the fourth quarter and full year 2011. For the quarter, the company's earnings were $1,230,000, or $0.44 per share assuming dilution, a decrease of less than 1%. For the same period last year earnings were $1,239,000, or $0.46 per share assuming dilution. For the year, the company reported an increase of $748,000, a 15% increase, in earnings compared to the same time period in 2010. Earnings were $5,687,000, or fully diluted 2011 earnings per share of $2.09, compared to $4,939,000, or fully diluted earnings per share of $1.81 for the same period of 2010. The increase in earnings is primarily attributable to an increase in net interest income partially offset by a decrease in securities gains and an increase in repossession expenses.