Porter Bancorp, Inc. Announces Third Quarter 2010 Results: EPS of $0.16

Porter Bancorp, Inc. PBIB, parent company of PBI Bank, with 18 full-service banking offices in Kentucky, today reported results for the third quarter and nine months ended September 30, 2010. The Company reported net income of $2.4 million for the third quarter of 2010 compared with net income of $4.5 million for the third quarter of 2009. Net income available to common shareholders was $1.8 million, or $0.16 per fully diluted common share, for the third quarter of 2010, compared with net income of $4.1 million, or $0.46 per fully diluted common share, for the third quarter of 2009. Net income for the nine months ended September 30, 2010 was $4.5 million compared with $10.8 million for the first nine months of 2009. Net income available to common shareholders for the nine months ended September 30, 2010 was $3.0 million, or $0.31 per fully diluted common share, compared with $9.4 million, or $1.08 per fully diluted common share, for comparable period of 2009.