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EX-99 - EXHIBIT 99.1 - KENTUCKY BANCSHARES INC /KY/form8k51811ex991.txt



Washington, D.C. 20549




Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 18, 2011

                       KENTUCKY BANCSHARES, INC.
          (Exact Name of Registrant as specified in Charter)

   Kentucky                   33-96358              61-0993464
 (State or other            (Commission            (IRS Employer
  jurisdiction of           File Number)        Identification No.)

P.O. Box 157, Paris, Kentucky                          40362-0157
(Address of principal executive offices)               (Zip code)

Registrant's telephone number, including area code:  (859)987-1795

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:

__  Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)

__  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)

__  Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

__  Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events

      On May 18, 2011 the Registrant issued a press release announcing
that its Board of Directors has expanded its previously announced stock
repurchase program by an additional 100,000 shares of outstanding
common stock.  The repurchase plan permits purchases to take place
selectively from time to time in open market purchases through a broker
or in privately negotiated transactions.  The purchases will be
dependent upon market prices and other conditions and there is no
guarantee as to the exact number of shares to be purchased by the
Registrant.  The press release is attached as Exhibit 99.1 and is
incorporated herein by reference.

  Item 9.01.  Financial Statements and Exhibits

     (d)  Exhibits

     Exhibit 99.1 ? Press release dated May 18, 2011.


       Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.

                                           KENTUCKY BANCSHARES, INC.

Date: May 18, 2011                  By      /s/ Gregory J. Dawson___
                                                    Gregory J. Dawson
                                                    Chief Financial Officer