Financial Performance - Kentucky First Federal Bancorp reported a net loss of $15,000 or $0.00 diluted earnings per share for Q3 2024, an improvement from a net loss of $175,000 or $(0.02) diluted earnings per share in Q3 2023, representing a 91.4% decrease in net loss [1]. - Non-interest income increased by $63,000 or 85.1% to $137,000, primarily due to net gains on sales of loans, which rose by $61,000 [4]. - Income tax benefit decreased by $63,000 or 91.3% to $6,000, due to net losses in both periods [6]. Interest Income and Expenses - Net interest income increased by $200,000 or 12.0% to $1.9 million, driven by a 23.7% increase in interest income to $4.6 million, while interest expense rose by 33.2% to $2.8 million [2]. - The average rate earned on interest-earning assets rose by 69 basis points to 5.05%, with average interest-earning assets increasing by $23.4 million or 6.8% to $336.0 million [3]. Credit and Provisioning - The provision for credit loss was $15,000, compared to $6,000 in the prior year, reflecting a slight growth in the loan portfolio [5]. Expenses - Non-interest expense increased by $31,000, primarily due to a 23.3% rise in data processing costs to $164,000 and an 80.0% increase in FDIC insurance premiums to $63,000 [7]. Assets and Equity - Total assets as of September 30, 2024, were $375.7 million, a slight increase of $682,000 or 0.2% from June 30, 2024 [8]. - Shareholders' equity increased by $226,000 or 0.5% to $48.2 million, with book value per share reported at $5.96 [9]. Future Outlook - The company anticipates challenges related to economic conditions, interest rates, and regulatory compliance, which may impact future performance [10].
Kentucky First Federal Bancorp(KFFB) - 2025 Q1 - Quarterly Results