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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