XML 54 R37.htm IDEA: XBRL DOCUMENT
v3.24.3

Condensed Financial Statements of Kentucky First Federal Bancorp (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2024
Condensed Financial Statements of Kentucky First Federal Bancorp [Abstract] |
Schedule of Balance Sheets | The following condensed financial statements summarize the financial position of Kentucky First Federal Bancorp as of June 30, 2024 and 2023, and the results of its operations and its cash flows for the fiscal years ended June 30, 2024 and 2023.
(in thousands) |  | 2024 |  |  | 2023 |
ASSETS |  |  |  |  |  |
Interest-bearing deposits in First Federal of Hazard |  | $ | 50 |  |  | $ | 473 |
Interest-bearing deposits in First Federal of Kentucky |  |  | 319 |  |  |  | 657 |
Other interest-bearing deposits |  |  | - |  |  |  | - |
Investment in First Federal of Hazard |  |  | 18,042 |  |  |  | 18,035 |
Investment in Frankfort First |  |  | 28,960 |  |  |  | 30,610 |
Prepaid expenses and other assets |  |  | 655 |  |  |  | 988 |
Total assets |  | $ | 48,026 |  |  | $ | 50,763 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Accounts payable and other liabilities |  | $ | 29 |  |  | $ | 52 |
|  |  | 29 |  |  |  | 52 |
Shareholders’ equity |  |  | 47,997 |  |  |  | 50,711 |
Total liabilities and shareholders’ equity |  | $ | 48,026 |  |  | $ | 50,763 |
Schedule of Statements of Operations and Comprehensive (Loss) Income |
(in thousands) |  | 2024 |  |  | 2023 |
Income |  |  |  |  |  |
Interest income |  | $ | 3 |  |  | $ | 4 |
Non-interest income |  |  | - |  |  |  | - |
Dividends from First Federal of Hazard |  |  | - |  |  |  | 935 |
Equity in undistributed (excess distributed) earnings of First Federal of Hazard |  |  | (29 | ) |  |  | (218 | )
Dividends from Frankfort First |  |  | - |  |  |  | 681 |
Equity in undistributed (excess distributed) earnings of Frankfort First |  |  | (1,291 | ) |  |  | (267 | )
Total income |  |  | (1,317 | ) |  |  | 1,135 |
Non-interest expenses |  |  | 510 |  |  |  | 382 |
Earnings before income taxes |  |  | (1,827 | ) |  |  | 753 |
Income tax expense (benefit) |  |  | (106 | ) |  |  | (180 | )
Net income (loss) |  |  | (1,721 | ) |  |  | 933 |
Other comprehensive (loss) income, net of tax-related effects: |  |  |  |  |  |  |  |
Unrealized holding losses on securities designated as available-for-sale during the year, net of taxes (benefits) of $30 and $(142) in 2024 and 2023, respectively |  |  | 91 |  |  |  | (427 | )
|  | $ | (1,630 | ) |  | $ | 506 |
Schedule of Statements of Cash Flows |
(in thousands) |  | 2024 |  |  | 2023 |
Cash flows from operating activities: |  |  |  |  |  |
Net income (loss) for the year |  | $ | (1,721 | ) |  | $ | 933 |
Adjustments to reconcile net earnings to net cash provided by operating activities: |  |  |  |  |  |  |  |
Excess (deficit) distributions over earnings (undistributed earnings from consolidated subsidiaries |  |  | 1,320 |  |  |  | 485 |
Noncash compensation expense |  |  | - |  |  |  | 4 |
Increase (decrease) in cash due to changes in: |  |  |  |  |  |  |  |
Prepaid expenses and other assets |  |  | 333 |  |  |  | (371 | )
Other liabilities |  |  | (23 | ) |  |  | 6 |
Net cash provided (used) by operating activities |  |  | (91 | ) |  |  | 1,057 |
Cash flows from financing activities: |  |  |  |  |  |  |  |
Treasury stock purchases |  |  |  |  |  |  | (461 | )
Dividends paid on common stock |  |  | (670 | ) |  |  | (1,363 | )
Net cash used in financing activities |  |  | (670 | ) |  |  | (1,824 | )
Net increase (decrease) in cash and cash equivalents |  |  | (761 | ) |  |  | (767 | )
Cash and cash equivalents at beginning of year |  |  | 1,130 |  |  |  | 1,897 |
Cash and cash equivalents at end of year |  | $ | 369 |  |  | $ | 1,130 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration