Kentucky First Federal Bancorp Reports $7,000 Net Income for Q1 2025, EPS Stable at $0.00, Revenue Boosted by Higher Interest Income

Reuters
05-13
Kentucky First Federal Bancorp Reports $7,000 Net Income for Q1 2025, EPS Stable at $0.00, Revenue Boosted by Higher Interest Income

Kentucky First Federal Bancorp (Nasdaq: KFFB), the holding company for First Federal Savings and Loan Association of Hazard and First Federal Savings Bank of Kentucky, reported a notable improvement in its financial performance for the quarter ended March 31, 2025. The company announced a net income of $7,000 for the three-month period, a significant turnaround from a net loss of $107,000 in the same period of the previous year. This represents an increase of $114,000 in net income. For the nine months ended March 31, 2025, Kentucky First Federal Bancorp posted a net income of $5,000, contrasting with a net loss of $643,000 for the same period in 2024, marking a substantial increase of $648,000. The improvement in quarterly net earnings was primarily driven by higher net interest income, which rose by $366,000 or 20.7% to $2.1 million due to interest income increasing more than interest expense. Interest income for the quarter increased by $673,000 or 16.1% to $4.8 million, while interest expense rose by $307,000 or 12.7% to $2.7 million. The average rate earned on interest-earning assets increased by 60 basis points to 5.28%, contributing to the rise in interest income. Additionally, non-interest income saw a slight increase of $3,000 or 3.8%, totaling $81,000, driven by net gains on sales of loans. Total assets as of March 31, 2025, were $380.7 million, reflecting an increase of $5.8 million or 1.5% from June 30, 2024. The company also noted a rise in non-interest expense by $160,000, primarily due to higher outside service fees. Overall, Kentucky First Federal Bancorp's recent earnings report highlights a positive shift in financial performance, largely attributed to increased net interest income and a rise in demand for fixed-rate secondary market loans.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Kentucky First Federal Bancorp published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-042292), on May 13, 2025, and is solely responsible for the information contained therein.

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