UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


_________

FORM 8-K

CURRENT REPORT

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


Date of Report (Date of earliest event reported): December 5, 2008



                       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.)
  incorporation)


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


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

N/A
(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))
INFORMATION TO BE INCLUDED IN THE REPORT

  Item 8.01. Other Events

      On December 5, 2008 the Registrant announced its quarterly cash
dividend to shareholders.  The dividend will be 28 cents per share, the
same as the previous three quarters.  This payment will be made
December 31, 2008, to shareholders of record December 19, 2008.


  Item 9.01.  Financial Statements and Exhibits

Exhibit 99.1 - Press release dated December 5, 2008, announcing
the dividend for the fourth quarter of 2008.


SIGNATURE

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 thereunto duly authorized.

KENTUCKY BANCSHARES, INC.



Date: December 5, 2008              By      /s/ Gregory J. Dawson___
         Gregory J. Dawson
         Chief Financial Officer
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{"company-data": {"conformed-name": "KENTUCKY BANCSHARES INC /KY/", "cik": "0001000232", "assigned-sic": "6022", "irs-number": "610993464", "state-of-incorporation": "KY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-52598", "film-number": "081231375"}, "business-address": {"street1": "4TH & MAIN ST", "street2": "P O BOX 157", "city": "PARIS", "state": "KY", "zip": "40362-0157", "phone": "859-987-1795"}, "mail-address": {"street1": "4TH & MAIN ST", "street2": "PO BOX 157", "city": "PARIS", "state": "KY", "zip": "40362-0157"}, "former-company": {"former-conformed-name": "BOURBON BANCSHARES INC /KY/", "date-changed": "19950907"}}
UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________

FORM 8-K

CURRENT REPORT

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

Date of Report (Date of earliest event reported): December 5, 2008

                       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.)
  incorporation)

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

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

N/A
(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))
INFORMATION TO BE INCLUDED IN THE REPORT

  Item 8.01. Other Events

      On December 5, 2008 the Registrant announced its quarterly cash
dividend to shareholders.  The dividend will be 28 cents per share, the
same as the previous three quarters.  This payment will be made
December 31, 2008, to shareholders of record December 19, 2008.

  Item 9.01.  Financial Statements and Exhibits

Exhibit 99.1 - Press release dated December 5, 2008, announcing
the dividend for the fourth quarter of 2008.

SIGNATURE

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 thereunto duly authorized.

KENTUCKY BANCSHARES, INC.

Date: December 5, 2008              By      /s/ Gregory J. Dawson___
         Gregory J. Dawson
         Chief Financial Officer