Kentucky First Federal Bancorp Releases Earnings
HAZARD, Ky. and FRANKFORT, Ky. and DANVILLE, Ky. and LANCASTER, Ky., May 03, 2021 (GLOBE NEWSWIRE) -- Kentucky First Federal Bancorp (Nasdaq: KFFB), the holding company (the “Company”) for First Federal Savings and Loan Association of Hazard and First Federal Savings Bank of Kentucky, Frankfort, Kentucky, announced net earnings of
The increase in net earnings for the quarter ended March 31, 2021 was primarily attributable to higher net interest income, higher non-interest income and lower non-interest expense, which were partially offset by increased provision for income taxes.
Net interest income increased
The increase in net earnings on a nine-month basis was also primarily attributable to higher net interest income, higher non-interest income, and lower non-interest expense, which were partially offset by increased provision for loan losses and increased provision for income taxes.
Net interest income increased
At March 31, 2021, assets totaled
At March 31, 2021, the Company reported its book value per share as
This press release may contain statements that are forward-looking, as that term is defined by the Private Securities Litigation Act of 1995 or the Securities and Exchange Commission in its rules, regulations and releases. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors including, but not limited to, real estate values, the impact of interest rates on financing, changes in general economic conditions, legislative and regulatory changes that adversely affect the business of the Company, changes in the securities markets and the Risk Factors described in Item 1A of the Company’s Annual Report on Form 10-K for the year ended June 30, 2020. Accordingly, actual results may differ from those expressed in the forward-looking statements, and the making of such statements should not be regarded as a representation by the Company or any other person that results expressed therein will be achieved.
Kentucky First Federal Bancorp is the parent company of First Federal Savings and Loan Association of Hazard, which operates one banking office in Hazard, Kentucky and First Federal Savings Bank of Kentucky, which operates three banking offices in Frankfort, Kentucky, two banking offices in Danville, Kentucky and one banking office in Lancaster, Kentucky. Kentucky First Federal Bancorp shares are traded on the Nasdaq National Market under the symbol KFFB. At March 31, 2021, the Company had approximately 8,226,715 shares outstanding of which approximately
Contact: | Don Jennings, President, or Clay Hulette, Vice President |
(502) 223-1638 | |
216 West Main Street | |
P.O. Box 535 | |
Frankfort, KY 40602 |
SUMMARY OF FINANCIAL HIGHLIGHTS | ||||||||||||||
Condensed Consolidated Balance Sheets | ||||||||||||||
(In thousands, except share data) | March 31, | June 30, | ||||||||||||
2021 | 2020 | |||||||||||||
ASSETS | (Unaudited) | |||||||||||||
Cash and cash equivalents | $ | 14,767 | $ | 13,702 | ||||||||||
Time deposits in other financial institutions | 247 | 2,229 | ||||||||||||
Investment Securities | 524 | 1,139 | ||||||||||||
Loans available-for sale | 1,261 | 667 | ||||||||||||
Loans, net | 299,190 | 285,887 | ||||||||||||
Real estate acquired through foreclosure | 141 | 640 | ||||||||||||
Goodwill | 947 | 947 | ||||||||||||
Other Assets | 15,555 | 15,925 | ||||||||||||
Total Assets | $ | 332,632 | $ | 321,136 | ||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||
Deposits | $ | 225,543 | $ | 212,273 | ||||||||||
FHLB Advances | 53,193 | 54,715 | ||||||||||||
Other Liabilities | 2,006 |
Kentucky First Federal Bancorp
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KFFB Stock Data
30.24M
2.93M
63.77%
3.19%
0.06%
Savings Institutions
Finance and Insurance
United States of America
HAZARD
About KFFBour business is customer service. and we are good at it. it's pretty simple... we treat you just like we would like to be treated. with friendly personal service aimed at meeting your unique needs and goals. weather you need information about purchasing a home or the best savings plan for you, we are here to help. local people. local service.
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