Kentucky First Federal Bancorp reports net loss of $175K for Sept quarter vs profit last year

Kentucky First Federal Bancorp

2024-Q1 EPS reported -$0.02

Net loss of $175,000 or ($0.02) diluted EPS vs net earnings of $373,000 or $0.05 EPS in prior year quarter.
Net interest income fell 31.3% to $1.7M due to interest expense rising 355.6% on rate hikes.
Adopted CECL accounting on July 1, 2023; recorded $497K increase in ACL for loans, $414K reduction to retained earnings.
Deposits increased $26.1M (11.5%) to $252.4M, including $48.1M in brokered CDs; book value per share $6.14.
Shareholders' equity decreased $1.1M to $49.6M, impacted by CECL adoption and net loss.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Kentucky First Federal Bancorp reported three months ended September 30, 2023 results: net income net loss of $175,000 or ($0.02) diluted earnings per share.

Period: three months ended September 30, 2023
Net income: net loss of $175,000 or ($0.02) diluted earnings per share
Result: reported results

Exact text from the filing

Kentucky First Federal Bancorp (Nasdaq: KFFB), the holding company (the "Company") for First Federal Savings and Loan Association of Hazard and First Federal Savings Bank of Kentucky, Frankfort, Kentucky, announced a net loss of $175,000 or ($0.02) diluted earnings per share for the three months ended September 30, 2023

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Source: SEC EDGAR

accession 0001213900-23-086244

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