Financial Performance - For the three months ended March 31, 2025, net income was $7,000 or $0.00 diluted earnings per share, compared to a net loss of $107,000 or $(0.01) diluted earnings per share for the same period in 2024, representing an increase of $114,000 [2]. - For the nine months ended March 31, 2025, net income was $5,000 compared to a net loss of $643,000 for the same period in 2024, marking an increase of $648,000 [2]. Income and Expenses - Net interest income increased by $366,000 or 20.7% to $2.1 million, driven by a $673,000 or 16.1% increase in interest income to $4.8 million, while interest expense rose by $307,000 or 12.7% to $2.7 million [3]. - Non-interest income rose by $3,000 or 3.8% to $81,000, primarily due to net gains on sales of loans increasing by $14,000 compared to March 31, 2024 [5]. - Non-interest expense increased by $160,000, primarily due to higher outside service fees, while employee compensation and benefits decreased by $27,000 or 2.2% [6]. Assets and Liabilities - Total assets increased by $5.8 million or 1.5% to $380.7 million, mainly due to a $9.5 million or 51.8% increase in cash and cash equivalents [8]. - Average interest-earning assets increased by $10.2 million or 2.9% to $367.3 million, with the average rate earned on these assets rising by 60 basis points to 5.28% [4]. - Deposits increased by $21.2 million or 8.3% to $277.4 million, while FHLB advances decreased by $15.6 million or 22.6% [8]. - Shareholders' equity increased by $155,000 or 0.3% to $48.2 million, with the book value per share reported at $5.95 [9]. Strategic Outlook - The company anticipates addressing deficiencies related to the agreement with the Office of the Comptroller of the Currency and aims to increase earnings and core deposits while reducing reliance on higher-cost funding sources [10].
Kentucky First Federal Bancorp(KFFB) - 2025 Q3 - Quarterly Results