Welcome to our dedicated page for Kentucky Fst Fed news (Ticker: KFFB), a resource for investors and traders seeking the latest updates and insights on Kentucky Fst Fed stock.
Kentucky First Federal Bancorp (KFFB) provides essential financial services through its community-focused banking model, specializing in residential mortgages and deposit solutions. This news hub offers investors and stakeholders timely access to official corporate developments and regulatory disclosures.
Track KFFB's operational milestones through verified press releases, SEC filings, and strategic announcements. Our curated collection includes updates on financial performance, leadership decisions, and regulatory compliance – critical information for assessing the company's position in Kentucky's banking sector.
Discover categorized updates including quarterly earnings reports, loan portfolio expansions, and community development initiatives. All content is sourced directly from company communications to ensure accuracy and compliance with financial disclosure standards.
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Kentucky First Federal Bancorp (KFFB) reported net income of $13,000 ($0.00 per share) for Q4 2024, compared to a net loss of $361,000 (-$0.05 per share) in Q4 2023, marking a 103.6% improvement. For H2 2024, the company posted a net loss of $2,000, significantly better than the $536,000 loss in H2 2023.
Net interest income increased 23% to $2.0 million, with interest income rising 21.8% to $4.8 million and interest expense up 21% to $2.7 million. The average rate earned on interest-earning assets increased 80 basis points to 5.28%. Total assets stood at $374.2 million as of December 31, 2024, slightly down 0.2% from June 2024. The company's book value per share was $5.94, with shareholders' equity increasing 0.1% to $48.1 million.
Kentucky First Federal Bancorp (Nasdaq: KFFB) reported a net loss of $15,000 ($0.00 per diluted share) for Q3 2024, compared to a net loss of $175,000 (-$0.02 per share) in Q3 2023, marking a 91.4% improvement. The reduced loss was driven by higher net interest income, which increased $200,000 (12.0%) to $1.9 million, and increased non-interest income. Interest income rose by $886,000 (23.7%), while interest expense increased by $686,000 (33.2%). Total assets reached $375.7 million, up $682,000 from June 2024. The company's book value per share stood at $5.96, with shareholders' equity increasing by $226,000 to $48.2 million.
Kentucky First Federal Bancorp (Nasdaq: KFFB) reported a net loss of $1.7 million or ($0.21) per share for the fiscal year ended June 30, 2024, compared to net earnings of $933,000 or $0.11 per share in the previous year. The results were significantly impacted by a $947,000 goodwill impairment charge, representing 100% of remaining goodwill. Net interest income declined by 21% to $7.0 million, with interest income up 27.6% but interest expense surging 137.9%. The company's assets grew 7.4% to $374.9 million, while total liabilities increased 9.6% to $327.0 million. Despite challenges, management noted improving net interest income trends and expects continued improvement to lead the company back to profitability.
Kentucky First Federal Bancorp (Nasdaq: KFFB) has announced significant changes to its board of directors. R. Clay Hulette has been appointed to the company's board, serving until the annual meeting on November 14, 2024, where he will run for a two-year term. Hulette, a long-time member of First Federal Savings Bank of Kentucky's board since 2012, has an extensive history with the company, including roles as Vice President, Treasurer, President, and CFO before retiring on January 1, 2024.
Additionally, Walter G. Ecton, Jr. has been elected as the new Chairman of the Board for Kentucky First Federal Bancorp. Ecton has been a director of the company since its inception in 2005 and also serves as a director for First Federal Savings and Loan of Hazard. These appointments represent significant leadership changes for KFFB, potentially impacting the company's future direction and governance.
Kentucky First Federal Bancorp (Nasdaq: KFFB) announced the retirement of Tony D. Whitaker as Chairman of the Board, effective August 1, 2024. Whitaker, 78, has served as Chairman since the company's inception in 2005 and was CEO from 2005 to 2012. His banking career spans over 50 years, including roles at First Federal Savings and Loan of Hazard and other institutions.
Don D. Jennings, President and CEO of Kentucky First Federal Bancorp, expressed mixed emotions about Whitaker's retirement, acknowledging his significant contributions to the company and the banking industry. Whitaker will also step down as Chairman of the Board of First Federal Savings Bank of Kentucky, a subsidiary of the company.
Kentucky First Federal Bancorp reported a net loss of $107,000 for the three months ended March 31, 2024, compared to net earnings of $144,000 for the same period in 2023. The net loss for the nine months ended March 31, 2024, was $643,000, a significant decrease from net earnings of $891,000 for the nine months ended March 31, 2023. The decrease in net earnings was primarily due to lower net interest income, with interest expense increasing more than interest income.
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