From GlobeNewswire: 2025-02-11 15:11:00

Kentucky First Federal Bancorp reported a net income of $13,000 for the three months ended December 31, 2024, a significant increase from a net loss of $361,000 for the same period in 2023. The increase was primarily due to higher net interest income and non-interest income.

Net interest income increased by $381,000 to $2.0 million, with interest income rising to $4.8 million. Non-interest income also saw a significant increase of $125,000, mainly from net gains on sales of loans. However, non-interest expense increased by $54,000 due to higher professional fees.

Total assets decreased slightly to $374.2 million at December 31, 2024, with a decrease in loans and investment securities. Cash and cash equivalents increased to $21.0 million. Total liabilities decreased to $326.2 million, with a decrease in FHLB advances and an increase in total deposits.

Shareholders’ equity increased to $48.1 million at December 31, 2024, with a book value per share of $5.94. The Company remains focused on reducing reliance on higher-cost funding sources and increasing core deposits. Forward-looking statements indicate plans for future growth and strategies.

Kentucky First Federal Bancorp is the parent company of two banking offices in Hazard, Kentucky, and six banking offices in Frankfort, Danville, and Lancaster, Kentucky. Shares are traded on the Nasdaq National Market under the symbol KFFB. At December 31, 2024, the Company had approximately 8,086,715 shares outstanding.



Read more at GlobeNewswire:: Kentucky First Federal Bancorp Reports Earnings