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): November 16, 2004



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.)



INFORMATION TO BE INCLUDED IN THE REPORT

Item 5.02 Departure of Directors or Principal Officers;
Election of Directors; Appointment of Principal Officers.
(a)	Not applicable
(b)	As previously disclosed in a Form 8-K dated September
14, 2004, in conjunction with its regularly scheduled meeting on
September 14, 2004, the Board of Directors of Kentucky Bank (the
"Bank") announced plans for the Bank's president, Louis
Prichard, to assume the additional role of chief executive
officer, effective January 1, 2005.  The Bank's current chief
executive officer, Buckner Woodford, will remain as Chairman of
the Board of the Bank.  The Bank is the Registrant's sole
operating subsidiary.
On November 16, 2004, in conjunction with its regularly
scheduled meeting, the Board of Directors of Kentucky
Bancshares, Inc. (the "Registrant") announced plans for the
Bank's president, Louis Prichard, to assume the roles of
president and chief executive officer of the Registrant,
effective January 1, 2005.  The Registrant's current chief
executive officer, Buckner Woodford, will become Chairman of the
Board of the Registrant, effective January 1, 2005.  Dr. James
L. Ferrell, the current Chairman of the Board of the Registrant,
will retire from the Registrant's Board effective January 1,
2005, but will remain on the Board of Directors of the Bank.
(c)(1) 	See Item 5.02(b) above.
	(2)	Louis Prichard, age 50, has served as president and
chief operating officer of the Bank since 2003.  He has been a
director of the Bank and the Registrant since 2003.  From 1983
to 2003, Mr. Prichard was employed by Farmers National Bank of
Danville, serving as its chairman and chief executive officer
since 1997.  Mr. Prichard serves the Bank and the Registrant at
the pleasure of their respective Board of Directors.
	(3)	Mr. Prichard does not have an employment agreement
with either the Bank or the Registrant.
(d)	Not applicable
EXHIBIT INDEX
Item No.       Description
99.1           Press Release dated November 17, 2004, announcing
changes described herein.

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:  November 22, 2004        By  /s/ Gregory J. Dawson
Gregory J. Dawson, C.F.O.












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{"company-data": {"conformed-name": "KENTUCKY BANCSHARES INC /KY/", "cik": "0001000232", "assigned-sic": "6022", "irs-number": "610993464", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-96358", "film-number": "041160493"}, "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): November 16, 2004

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.)

INFORMATION TO BE INCLUDED IN THE REPORT

Item 5.02 Departure of Directors or Principal Officers;
Election of Directors; Appointment of Principal Officers.
(a)	Not applicable
(b)	As previously disclosed in a Form 8-K dated September
14, 2004, in conjunction with its regularly scheduled meeting on
September 14, 2004, the Board of Directors of Kentucky Bank (the
"Bank") announced plans for the Bank's president, Louis
Prichard, to assume the additional role of chief executive
officer, effective January 1, 2005.  The Bank's current chief
executive officer, Buckner Woodford, will remain as Chairman of
the Board of the Bank.  The Bank is the Registrant's sole
operating subsidiary.
On November 16, 2004, in conjunction with its regularly
scheduled meeting, the Board of Directors of Kentucky
Bancshares, Inc. (the "Registrant") announced plans for the
Bank's president, Louis Prichard, to assume the roles of
president and chief executive officer of the Registrant,
effective January 1, 2005.  The Registrant's current chief
executive officer, Buckner Woodford, will become Chairman of the
Board of the Registrant, effective January 1, 2005.  Dr. James
L. Ferrell, the current Chairman of the Board of the Registrant,
will retire from the Registrant's Board effective January 1,
2005, but will remain on the Board of Directors of the Bank.
(c)(1) 	See Item 5.02(b) above.
	(2)	Louis Prichard, age 50, has served as president and
chief operating officer of the Bank since 2003.  He has been a
director of the Bank and the Registrant since 2003.  From 1983
to 2003, Mr. Prichard was employed by Farmers National Bank of
Danville, serving as its chairman and chief executive officer
since 1997.  Mr. Prichard serves the Bank and the Registrant at
the pleasure of their respective Board of Directors.
	(3)	Mr. Prichard does not have an employment agreement
with either the Bank or the Registrant.
(d)	Not applicable
EXHIBIT INDEX
Item No.       Description
99.1           Press Release dated November 17, 2004, announcing
changes described herein.

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:  November 22, 2004        By  /s/ Gregory J. Dawson
Gregory J. Dawson, C.F.O.

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