Kentucky First Federal Bancorp(KFFB) - 2026 Q1 - Quarterly Results

Financial Performance - For the three months ended September 30, 2025, net income was $344,000 or $0.04 diluted earnings per share, compared to a net loss of $15,000 or $(0.00) diluted earnings per share for the same period in 2024, representing an increase of $359,000 [2]. - Income tax expense increased by $115,000 to $109,000, reflecting higher earnings, with income before income taxes increasing by $474,000 compared to the prior year [7]. Interest Income and Expenses - Net interest income increased by $634,000 or 33.9% to $2.5 million, driven by a $432,000 or 9.4% increase in interest income to $5.1 million, while interest expense decreased by $202,000 or 7.3% to $2.5 million [3]. - The average rate earned on interest-earning assets rose by 53 basis points to 5.59%, primarily due to an increase in loan interest rates, which rose by 63 basis points to 5.71% [4]. Non-Interest Income and Expenses - Non-interest income increased by $16,000 or 11.7% to $153,000, mainly due to net gains on sales of loans driven by higher demand for fixed-rate secondary market loans [5]. - Non-interest expense rose by $191,000, primarily due to a 128.6% increase in outside service fees to $160,000 and a 37.8% increase in data processing expenses to $226,000 [8]. Credit Loss Provision - The company recorded no provision for credit loss for the quarter, compared to a provision of $15,000 in the prior year, as the allowance for credit loss was deemed sufficient [6]. Assets and Equity - Total assets decreased by $4.7 million or 1.3% to $366.5 million, primarily due to a $4.9 million or 24.9% decrease in cash and cash equivalents [9]. - Shareholders' equity increased by $410,000 or 0.8% to $48.8 million, with a book value per share of $6.03, up from $5.98 [10]. Company Overview - The company operates six banking offices across Kentucky, with approximately 8,086,715 shares outstanding, of which 58.5% is held by First Federal MHC [12].