Farmers Capital Bank Corporation (NASDAQ:FFKT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
ITEM 5.02     Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) On January 23, 2017 the Board of Directors of Farmers Capital Bank Corporation (the “Company”) adopted its Executive Short-Term Incentive Plan (“Incentive Plan”) effective as of January 1, 2017. The Incentive Plan is filed as Exhibit 10.1 hereto and incorporated herein by reference.

The purpose of the Incentive Plan is to further the growth and financial success of the Company and its shareholders by providing certain employees of the Company, who are largely responsible for the management, growth and protection of the business of the Company, with cash incentives to encourage them to continue in the service of the Company.

The Compensation Committee of the Board of Directors determines participating employees as well as the annual goals for achieving a cash incentive. The annual goals for 2017 include Company-wide goals, which are tailored to the executive’s role. For example, the annual goals for 2017 include a Company annual net income goal, a core deposit growth goal, a loan growth goal and an efficiency ratio. The goals applicable to a particular executive (as well as the weighting of such goals) are tailored to each individual to appropriately reflect the performance metrics that a particular executive can personally impact through individual performance. In addition to such Company-wide goals, each participating executive will also have qualifiers setting minimum expectations that must be met in order for such executive to be eligible for the incentive. These qualifiers will be tailored to each individual based on such individual’s role and will range among asset quality metrics, business development expectations, and the results of regulatory exams.

The following named executive officers were granted incentive performance targets for the Company’s 2017 fiscal year: Lloyd C. Hillard, Jr., J. David Smith, Jr., Mark A. Hampton, James L. Grubbs, and Rickey D. Harp.

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS

(d)     Exhibits

Exhibit 10.1 – Executive Short-Term Incentive Plan January 1, 2017

About Farmers Capital Bank Corporation (NASDAQ:FFKT)

Farmers Capital Bank Corporation is a bank holding company. The Company provides a range of banking and bank-related services to customers throughout Central and Northern Kentucky. The Company’s bank subsidiaries include Farmers Bank & Capital Trust Company, United Bank & Trust Company, First Citizens Bank and Citizens Bank of Northern Kentucky, Inc. The Company also owns FCB Services, Inc., a data processing subsidiary, and FFKT Insurance Services, Inc., a captive property and casualty insurance company. The Company’s primary deposit products are checking, savings and term certificate accounts. Its primary lending products are residential mortgage, commercial lending and consumer installment loans. The Company also offers other services, including cash management services, issuing letters of credit, safe deposit box rental and funds transfer services.

Farmers Capital Bank Corporation (NASDAQ:FFKT) Recent Trading Information

Farmers Capital Bank Corporation (NASDAQ:FFKT) closed its last trading session up +0.20 at 36.05 with 42,822 shares trading hands.