Kentucky First Federal Bancorp (KFFB) 10-K 28 Sep 21 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2021	Sep. 24, 2021	Dec. 31, 2020
Document Information Line Items
Entity Registrant Name	KENTUCKY FIRST FEDERAL BANCORP
Trading Symbol	KFFB
Document Type	10-K
Current Fiscal Year End Date	--06-30
Entity Common Stock, Shares Outstanding		8,222,046
Entity Public Float			$ 19,100,000
Amendment Flag	false
Entity Central Index Key	0001297341
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
City Area Code	(502)
Document Annual Report	true
Document Transition Report	false
Entity Address, Address Line One	655 Main Street
Entity Address, City or Town	Hazard
Entity Address, Postal Zip Code	41702
Entity Address, State or Province	KY
Entity File Number	0-51176
Entity Incorporation, State or Country Code	X1
Entity Interactive Data Current	Yes
Entity Tax Identification Number	61-1484858
Local Phone Number	223-1638
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock, $0.01 par value per share

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
ASSETS
Cash and due from financial institutions	$ 1,834	$ 1,662
Fed funds sold	5,001
Interest-bearing demand deposits	14,813	12,040
Cash and cash equivalents	21,648	13,702
Time deposits in other financial institutions	247	2,229
Securities available for sale	33	541
Securities held-to-maturity, at amortized cost- approximate fair value of $476 and $611 at June 30, 2021 and 2020, respectively	462	598
Loans held for sale	1,307	667
Loans, net of allowance of $1,622 and $1,488 at June 30, 2021 and 2020, respectively	297,902	285,887
Other real estate owned, net	82	640
Premises and equipment, net	4,697	4,916
Federal Home Loan Bank stock, at cost	6,498	6,498
Accrued interest receivable	694	830
Bank-owned life insurance	2,672	2,594
Goodwill	947	947
Prepaid income taxes	40	135
Prepaid expenses and other assets	834	952
Total assets	338,063	321,136
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits	226,843	212,273
Federal Home Loan Bank advances	56,873	54,715
Advances by borrowers for taxes and insurance	838	800
Accrued interest payable	20	27
Deferred income taxes	614	837
Other liabilities	579	573
Total liabilities	285,767	269,225
Commitments and contingencies
Shareholders’ equity
Preferred stock, 500,000 shares authorized, $.01 par value; no shares issued and outstanding
Common stock, 20,000,000 shares authorized, $.01 par value; 8,596,064 shares issued	86	86
Additional paid-in capital	34,916	34,981
Retained earnings	20,364	19,932
Unearned employee stock ownership plan (ESOP)	(102)	(289)
Treasury shares at cost, 369,349 and 343,849 common shares at June 30, 2021 and 2020, respectively	(2,968)	(2,801)
Accumulated other comprehensive income		2
Total shareholders’ equity	52,296	51,911
Total liabilities and shareholders’ equity	$ 338,063	$ 321,136

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Statement of Financial Position [Abstract]
Securities held-to-maturity securities, fair value (in Dollars)	$ 476	$ 611
Loans, net of allowance (in Dollars)	$ 1,622	$ 1,488
Preferred stock, shares authorized	500,000	500,000
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, shares authorized	20,000,000	20,000,000
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued	8,596,064	8,596,064
Treasury stock, shares	369,349	343,849

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Interest income
Loans, including fees	$ 11,979	$ 12,364
Mortgage-backed securities	14	22
Other securities	3	18
Interest-bearing deposits and other	156	419
Total interest income	12,152	12,823
Interest expense
Deposits	1,711	2,405
Borrowings	430	1,094
Total interest expense	2,141	3,499
Net interest income	10,011	9,324
Provision for loan losses	192	103
Net interest income after provision for loan losses	9,819	9,221
Non-interest income
Earnings on bank-owned life insurance	78	76
Net gains on sales of loans	380	186
Net gain (loss) on sales of REO	(19)	5
Valuation adjustment for REO	(19)	(36)
Net loss on sales of property	(2)
Other	177	168
Total non-interest income	595	399
Non-interest expense
Employee compensation and benefits	5,440	5,536
Data processing	647	541
Occupancy and equipment	567	568
FDIC insurance premiums	168
Voice and data communications	109	151
Advertising	153	170
Outside service fees	179	176
Audit and accounting	158	165
Franchise and other taxes	131	259
Foreclosure and REO expense, net	66	66
Goodwill impairment		13,560
Other	624	711
Total non-interest expense	8,242	21,903
Income (loss) before income taxes	2,172	(12,283)
Income tax expense
Current	575	128
Deferred	(223)	136
Total income tax expense	352	264
NET INCOME (LOSS)	$ 1,820	$ (12,547)
EARNINGS (LOSS) PER SHARE
Basic and diluted (in Dollars per share)	$ 0.22	$ (1.52)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,820	$ (12,547)
Other comprehensive loss, net of tax-related effects:
Unrealized holding losses on securities designated as available for sale during the year, net of tax benefits of $(1) and $(1) in 2021 and 2020, respectively	(2)	(2)
Comprehensive income (loss)	$ 1,818	$ (12,549)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive (Loss) Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Unrealized holding Gains (losses) on securities designated as available-for-sale	$ (1)	$ 1

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders’ Equity - USD ($) $ in Thousands	Common stock	Additional paid-in capital	Retained earnings	Unearned employee stock ownership plan (ESOP)	Treasury shares	Accumulated other comprehensive income	Total
Balance at Jun. 30, 2019	$ 86	$ 35,056	$ 33,867	$ (476)	$ (2,259)	$ 4	$ 66,278
Net income (loss)			(12,547)				(12,547)
Allocation of ESOP shares		(75)		187			112
Acquisition of shares for treasury					(542)		(542)
Other Comprehensive Loss						(2)	(2)
Cash dividends of $0.40 per common share			(1,388)				(1,388)
Balance at Jun. 30, 2020	86	34,981	19,932	(289)	(2,801)	2	51,911
Net income (loss)			1,820				1,820
Allocation of ESOP shares		(65)		187			122
Acquisition of shares for treasury					(167)		(167)
Other Comprehensive Loss						(2)	(2)
Cash dividends of $0.40 per common share			(1,388)				(1,388)
Balance at Jun. 30, 2021	$ 86	$ 34,916	$ 20,364	$ (102)	$ (2,968)		$ 52,296

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders’ Equity (Parentheticals) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends of per common share	$ 0.40	$ 0.40

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net (loss) income	$ 1,820	$ (12,547)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Goodwill impairment		13,560
Depreciation	288	277
Accretion of purchased loan discount	(321)	(97)
Amortization of purchased loan premium	26	10
Amortization of discounts and premiums on investment securities, net		8
Amortization of deferred loan origination costs (fees)	7	85
Net gain on sale of loans	(380)	(186)
Valuation adjustment of REO	19	36
Net gain (loss) on real estate owned	19	(5)
ESOP compensation expense	122	112
Net gain on sale of property & equipment	2
Earnings on bank-owned life insurance	(78)	(76)
Provision for loan losses	192	103
Origination of loans held for sale	(9,963)	(5,598)
Proceeds from loans held for sale	9,703	5,117
Increase (decrease) in cash, due to changes in:
Accrued interest receivable	136	(72)
Prepaid expenses and other assets	118	(62)
Accrued interest payable	(7)	(1)
Accounts payable and other liabilities	6	111
Income tax (benefit)
Current	95	131
Deferred	(223)	136
Net cash provided by operating activities	1,581	1,042
Cash flows from investing activities:
Purchase of time deposits in other financial institutions		(2,500)
Maturities of time deposits in other financial institutions	1,982	7,233
Investment securities maturities, prepayments and calls:
Held to maturity	129	169
Available for sale	506	502
Purchase of FHLB stock		(16)
Proceeds from sale of property & equipment	30
Loans originated for investment, net of principal collected	(12,220)	(5,228)
Proceeds from sale of real estate owned	829	292
Additions to real estate owned	(1)	(44)
Additions to premises and equipment, net	(101)	(165)
Net cash (used) provided by investing activities	(8,846)	243
Cash flows from financing activities:
Net change in deposits	14,570	16,437
Payments by borrowers for taxes and insurance, net	38	37
Proceeds from Federal Home Loan Bank advances	51,600	23,500
Repayments on Federal Home Loan Bank advances	(49,442)	(35,488)
Treasury stock purchases	(167)	(542)
Dividends paid on common stock	(1,388)	(1,388)
Net cash provided by financing activities	15,211	2,556
Net increase in cash and cash equivalents	7,946	3,841
Beginning cash and cash equivalents	13,702	9,861
Ending cash and cash equivalents	21,648	13,702
Cash paid during the year for:
Federal income taxes	475
Interest on deposits and borrowings	2,148	3,500
Supplemental disclosure of noncash investing activities:
Transfers from loans to real estate acquired through foreclosure	358	304
Loans disbursed upon sales of real estate acquired through foreclosure	$ 50	$ 95

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Kentucky First Federal Bancorp (the “Company”) is a savings and loan holding company whose activities are primarily limited to holding the stock and managing the operations of First Federal Savings and Loan Association of Hazard, Kentucky (“First Federal of Hazard”) and Frankfort First Bancorp, Inc., (“Frankfort First”) the holding company for First Federal Savings Bank of Kentucky (“First Federal of Kentucky”). First Federal of Hazard and First Federal of Kentucky are collectively referred to herein as “the Banks.” First Federal of Hazard is a community-oriented savings and loan association dedicated to serving consumers in Perry and surrounding counties in eastern Kentucky, while First Federal of Kentucky operates through six banking offices located in Frankfort, Danville and Lancaster, Kentucky. Both institutions engage primarily in the business of attracting deposits from the general public and applying those funds to the origination of loans for residential and consumer purposes. First Federal of Kentucky also originates, to a lesser extent, church loans, home equity and other loans. Other than a predominance of one- to four-family residential property, which is common in most thrifts, there are no significant concentrations of loans to any one industry or customer. However, the customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the Banks’ specific operating areas. The Banks’ profitability is significantly dependent on net interest income, which is the difference between interest income generated from interest-earning assets (i.e. loans and investments) and the interest expense paid on interest-bearing liabilities (i.e. customer deposits and borrowed funds). Net interest income is affected by the relative amount of interest-earning assets and interest-bearing liabilities and the interest received or paid on these balances. The level of interest rates paid or received by the Banks can be significantly influenced by a number of environmental factors, such as governmental monetary policy, that are outside of management’s control. The following is a summary of the Company’s significant accounting policies which have been consistently applied in the preparation of the accompanying consolidated financial statements. 1. Principles of Consolidation 2. Use of Estimates 3. Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. 4. Loans All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. 5. Loans held for sale and Mortgage Servicing Rights In selling loans, the Company utilizes a program with the Federal Home Loan Bank, retaining servicing on loans sold. Mortgage servicing rights on originated loans that have been sold are initially recorded at fair value. Capitalized servicing rights are amortized in proportion to and over the period of estimated servicing revenues. The Company recorded amortization related to mortgage servicing rights totaling $28,000 and $20,000 during the years ended June 30, 2021 and 2020, respectively. The carrying value of the Company’s mortgage servicing rights, which approximated fair value, totaled approximately $147,000 and $96,000 at June 30, 2021 and 2020, respectively. The Company was servicing mortgage loans of approximately $18.3 million and $12.1 million that had been sold to the Federal Home Loan Bank at June 30, 2021 and 2020, respectively. Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with other non-interest income on the income statement. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. Servicing fee income which is reported on the income statement as other non-interest income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Servicing fees totaled $14,000 and $7,000 for the fiscal years ended June 30, 2021 and 2020, respectively. Late fees and ancillary fees related to loan servicing are not material. 6. Allowance for Loan Losses The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired or loans otherwise classified as substandard or doubtful. The general component covers all loans and is based on historical loss experience adjusted for current factors. In consultation with regulators, the Company considers a time frame of two years when estimating the appropriate level of allowance for loan losses. This period may be shortened or extended based on anticipated trends in the banks or in the banks’ markets. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent eight quarters. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; changes in lending policies, procedures and practices; experience, ability and depth of lending management and other relevant staff; economic trends and conditions; industry conditions; and effects of changes in credit concentrations. Our portfolio segments include residential real estate, nonresidential real estate and land, loans on deposits and consumer and other loans. Risk factors associated with our portfolio segments are as follows: Residential Real Estate Our primary lending activity is the origination of mortgage loans, which enable a borrower to purchase or refinance existing homes in the Banks’ respective market areas. We further classify our residential real estate loans as one- to four-family (owner-occupied vs nonowner-occupied), multi-family or construction. We believe that our first mortgage position on loans secured by residential real estate presents lower risk than our other loans, with the exception of loans secured by deposits. We offer a mix of adjustable-rate and fixed-rate mortgage loans with terms up to 30 years for owner-occupied properties. For these properties a borrower may be able to borrow up to 95% of the value with private mortgage insurance. Alternatively, the borrower may be able to borrow up to 90% of the value through other programs offered by the bank. We offer loans on one- to four-family rental properties at a maximum of 80% loan-to-value (“LTV”) ratio and we generally charge a slightly higher interest rate on such loans. We also originate loans to individuals to finance the construction of residential dwellings for personal use or for use as rental property. We occasionally lend to builders for construction of speculative or custom residential properties for resale, but on a limited basis. Construction loans are generally less than one year in length, do not exceed 80% of the appraised value, and provide for the payment of interest only during the construction phase. Funds are disbursed as progress is made toward completion of the construction. Multi-family and Nonresidential Loans We offer mortgage loans secured by residential multi-family (five or more units), and nonresidential real estate. Nonresidential real estate loans are comprised generally of commercial office buildings, churches and properties used for other purposes. Generally, these loans are originated for 25 years or less and do not exceed 80% of the appraised value. Loans secured by multi-family and commercial real estate generally have larger balances and involve a greater degree of risk than one- to four-family residential mortgage loans. These loans depend on the borrower’s creditworthiness and the feasibility and cash flow potential of the project. Payments on loans secured by income properties often depend on successful operation and management of the properties. As a result, repayment on such loans may be subject to a greater extent to adverse conditions in the real estate market or economy than owner-occupied residential loans. Consumer lending Our consumer loans include home equity lines of credit, loans secured by savings deposits, automobile loans, and unsecured loans. Home equity loans are generally second mortgage loans subordinate only to first mortgages also held by the bank and do not exceed 80% of the estimated value of the property. We do offer home equity loans up to 90% of the estimated value to qualified borrowers and these loans carry a premium interest rate. Loans secured by savings are originated up to 90% of the depositor’s savings account balance and bear interest at a rate higher than the rate paid on the deposit account. Because the deposit account must be pledged as collateral to secure the loan, the inherent risk of this type of loan is minimal. Loans secured by automobiles are made directly to consumers (there are no relationships with dealers) and are based on the value of the vehicle and the borrower’s creditworthiness. Vehicle loans present a higher level of risk because of the natural decline in the value of the property as well as its mobility. Unsecured loans are based entirely on the borrower’s creditworthiness and present the highest level of risk to the bank. The Banks choose the most appropriate method for accounting for impaired loans. For secured loans, which make up the vast majority of the loans in the banks’ portfolio, this method involves determining the fair value of the collateral, reduced by estimated selling costs. Where appropriate, the Banks would account for impaired loans by determining the present value of expected future cash flows discounted at the loan’s effective interest rate. A loan is considered impaired when, based on current information and events, it is probable that a creditor will be unable to collect all amounts due according to the contractual terms of the loan agreement. Although most of our loans are secured by collateral, we rely heavily on the capacity of our borrowers to generate sufficient cash flow to service their debt. As a result, our loans do not become collateral-dependent until there is deterioration in the borrower’s cash flow and financial condition, which makes it necessary for us to look to the collateral for our sole source of repayment. Collateral-dependent loans which are more than ninety days delinquent are considered to constitute more than a minimum delay in repayment and are evaluated for impairment under the policy at that time. We utilize updated independent appraisals to determine fair value for collateral-dependent loans, adjusted for estimated selling costs, in determining our specific reserve. In some situations management does not secure an updated independent appraisal. These situations may involve small loan amounts or loans that, in management’s opinion, have an abnormally low loan-to-value ratio. With respect to the Banks’ investment in troubled debt restructurings, multi-family and nonresidential loans, and the evaluation of impairment thereof, such loans are nonhomogenous and, as such, may be deemed to be collateral-dependent when they become more than 90 days delinquent. We obtain updated independent appraisals in these situations or when we suspect that the previous appraisal may no longer be reflective of the property’s current fair value. This process varies from loan to loan, borrower to borrower, and also varies based on the nature of the collateral. 7. Federal Home Loan Bank Stock 8. Real Estate Owned 9. Premises and Equipment 10. Income Taxes A tax provision is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters as income tax expense. Kentucky First Federal Bancorp and Frankfort First Bancorp, Inc., each are subject to state income taxes in the Commonwealth of Kentucky. Both of the Banks became subject to state income tax in the Commonwealth on January 1, 2021, according to legislation enacted in the spring of 2019. On March 26, 2019, Kentucky enacted H.B. 354 repealing the bank franchise tax. On April 9, 2019, Kentucky enacted related legislation, H.B. 458, which made technical corrections to H.B. 354. Beginning on or after January 1, 2021, the banks will be subject to the corporation income tax and limited liability entity tax (“LLET”) instead of the savings and loan tax. Because the banks operate on a fiscal year, they must file a short-year corporation income tax and LLET return and pay any tax due for the period beginning January 1, 2021 through the end of the banks’ normal fiscal year. With few exceptions, the Company is no longer subject to U.S. federal, state and local tax examinations by tax authorities for years before 2018. 11. Retirement and Employee Benefit Plans The Company also maintains a nonqualified deferred compensation plan for the benefit of certain directors, which is closed to any future deferrals. The expense incurred for the deferred compensation was $0 and $2,000 for the fiscal years ended June 30, 2021 and 2020, respectively, while the liabilities totaled $51,000 and $51,000 at June 30, 2021 and 2020, respectively. The Company maintains an Employee Stock Ownership Plan (“ESOP”) which provides retirement benefits for substantially all full-time employees who have completed one year of service and have attained the age of 21. Annual contributions are made to the ESOP equal to the ESOP’s debt service less dividends received by the ESOP on unallocated shares. Shares in the ESOP were acquired using funds provided by a loan from the Company and, accordingly, the cost of those shares is shown as a reduction of stockholders’ equity. Shares are released to participants proportionately as the loan is repaid. Dividends on allocated shares are recorded as dividends and charged to retained earnings. Dividends on unallocated shares are used to repay loan principal and accrued interest. Compensation expense is recorded equal to the fair value of shares committed to be released during a given fiscal year. Allocation of shares to the ESOP participants is contingent upon the repayment of a loan to Kentucky First Federal Bancorp totaling $277,000 and $528,000 at June 30, 2021 and 2020, respectively. The Company recorded expense for the ESOP of approximately $122,000 and $135,000 for the years ended June 30, 2021 and 2020, respectively. Shares may be surrendered from the plan as employees leave employment. Total shares surrendered from the plan totaled 217,706 and 194,445 at June 30, 2021 and 2020, respectively. The amounts contributed to the ESOP were $280,000 for each of the years 2021 and 2020. For the fiscal year ended June 30, 2021 2020 Allocated shares 99,668 104,254 Shares committed to be released 9,338 9,338 Unearned shares 10,261 28,936 Total ESOP shares 119,267 142,528 Fair value of unearned shares at End of period $ 76,000 $ 195,000 The Company maintains a 401(k) plan for the benefit of all full-time employees. No employer contributions have been made to the 401(k) plan. 12. Earnings Per Share For the fiscal year ended June 30, 2021 2020 Net income (loss) allocated to common shareholders, basic and diluted $ 1,820,000 $ (12,547,000 ) EARNINGS (LOSS) PER SHARE $ 0.22 $ (1.52 ) Weighted average common shares outstanding, basic and diluted 8,216,193 8,251,860 Basic earnings per share is computed based upon the weighted-average shares outstanding during the year (which excludes treasury shares) less average shares in the ESOP that are unallocated and not committed to be released. There were no options outstanding for fiscal years 2021 and 2020. 13. Fair Value of Assets and Liabilities Level 1 Level 2 Level 3 Following is a description of the valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying balance sheet, as well as the general classification of such instruments pursuant to the valuation hierarchy. Securities Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The following table presents the fair value measurements of assets and liabilities measured at fair value on a recurring basis at June 30, 2021 and 2020. The securities represented are only those classified as available-for sale. Fair Value Measurements Using Quotes Prices Identical Significant Other Significant (in thousands) Fair Value (Level 1) (Level 2) (Level 3) 2021 Agency mortgage-backed: residential $ 33 $ -- $ 33 $ -- 2020 Agency bonds $ 503 $ -- $ 503 $ -- Agency mortgage-backed: residential $ 38 $ -- $ 38 $ -- There were no transfers between levels 1 and 2. Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying consolidated balance sheet, as well as the general classification of such assets pursuant to the valuation hierarchy. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. Impaired Loans The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent independent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value and totaled $0 and $0 for the years ended June 30, 2021 and 2020, respectively. Independent appraisals for collateral-dependent loans are updated periodically (usually every 12-24 months depending on the size of the loan and the loan-to-value ratio). Real Estate Owned Real estate properties acquired through or instead of loan foreclosure are initially recorded as real estate owned (“REO”) at fair value, less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals which are updated no less frequently than annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach with data from comparable properties. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments were $19,000 and $36,000 for the fiscal years 2021 and 2020, respectively, and resulted in a Level 3 classification of the inputs for determining fair value. One single-family residential property, which was held as OREO and was written down by $19,000 during the year ended June 30, 2021, was sold during the period. There was no OREO measured at fair value less costs to sell at June 30, 2021. The following table presents the fair value measurements of assets and liabilities measured at fair value on a nonrecurring basis at June 30, 2020. Fair Value Measurements Using (in thousands) Fair Value Quotes Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) 2020 Other real estate owned, net One- to four-family $ 465 $ - $ - $ 465 The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2020: June 30, 2020 Fair Value Valuation Unobservable Range (Weighted Foreclosed and repossessed assets: 1-4 family $ 465 Sales comparison approach Adjustments for differences between comparable sales -2.7% to 41.2% The following disclosure of the fair value of financial instruments, both assets and liabilities, whether or not recognized in the consolidated balance sheet, is based on the assumptions presented for each particular item and for which it is practicable to estimate that value. For financial instruments where quoted market prices are not available, fair values are based on estimates using present value and other valuation methods. The methods used are greatly affected by the assumptions applied, including the discount rate and estimates of future cash flows. Therefore, the fair values presented may not represent amounts that could be realized in an exchange for certain financial instruments. The Company’s financial instruments at June 30, 2021 and 2020 are as follows: Fair Value Measurements at Carrying June 30, 2021 Using (in thousands) Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 21,648 $ 21,648 $ 21,648 Time deposits in other financial institutions 247 248 248 Available-for-sale securities 33 $ 33 33 Held-to-maturity securities 462 476 476 Loans held for sale 1,307 1,336 1,336 Loans receivable - net 297,902 $ 306,346 306,346 Federal Home Loan Bank stock 6,498 n/a Accrued interest receivable 694 694 694 Financial liabilities Deposits $ 226,843 $ 101,951 $ 125,232 $ 227,183 Federal Home Loan Bank advances 56,873 57,314 57,314 Advances by borrowers for taxes and insurance 838 838 838 Accrued interest payable 20 20 20 Carrying Fair Value Measurements at (in thousands) Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 13,702 $ 13,702 $ 13,702 Time deposits in other financial institutions 2,229 2,252 2,252 Available-for-sale securities 541 $ 541 541 Held-to-maturity securities 598 611 611 Loans held for sale 667 685 685 Loans receivable - net 285,887 $ 295,431 295,431 Federal Home Loan Bank stock 6,498 n/a Accrued interest receivable 830 830 830 Financial liabilities Deposits $ 212,273 $ 78,118 $ 135,000 $ 213,118 Federal Home Loan Bank advances 54,715 55,416 55,416 Advances by borrowers for taxes and insurance 800 800 800 Accrued interest payable 27 27 27 14. Cash and Cash Equivalents 15. Goodwill Intangibles-Goodwill and Other (Topic 350) Simplifying the Test for Goodwill Impairment, 16. Cash Surrender Value of Life Insurance 17. Treasury Stock 18. Related Party Transactions (in thousands) 2021 2020 Outstanding principal, beginning of year $ 1,047 $ 1,246 Changes in composition of related parties 936 (129 ) Principal disbursed during the year -- -- Principal repaid and refinanced during the year (578 ) (70 ) Outstanding principal, end of year $ 1,405 $ 1,047 Deposits from related parties held by the Company at June 30, 2021 and 2020 totaled $4.3 million and $3.3 million, respectively. In management’s opinion, such loans and other extensions of credit and deposits were made in the ordinary course of business and were made on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with other persons. Further, in management’s opinion, these loans did not involve more than normal risk of collectability or present other unfavorable features. 19. Comprehensive Income and Accumulated Comprehensive Income 20. Revenue Recognition 21. Loss Contingencies 22. Loan Commitments and Related Financial Instruments 23. Dividend Restriction 24. Operating Segments 25. Reclassifications 26. New Accounting Standards FASB ASC 326 - FASB ASC 820 – Fair Value Measurement (Topic 820) Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. FASB ASC 740– Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

Securities

Securities	12 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
SECURITIES	NOTE B - SECURITIES The following table summarizes the amortized cost and fair value of the available for sale securities and held to maturity investment securities portfolio at June 30, 2021 and 2020 and the corresponding amounts of gross unrealized or unrecognized gains and losses. Unrealized gains or losses apply to available-for-sale securities and are recognized in accumulated other comprehensive income, while unrecognized gains or losses on held-to-maturity securities are not recognized in the financial statements. The gains and losses are as follows: 2021 (in thousands) Amortized cost Gross unrealized/ Gross unrealized/ Estimated Available-for-sale Securities Agency mortgage-backed residential $ 33 $ - $ - $ 33 Held-to-maturity Securities Agency mortgage-backed: residential $ 462 $ 16 $ 2 $ 476 2020 (in thousands) Amortized Gross unrealized/ unrecognized gains Gross unrealized/ Estimated Available-for-sale Securities Agency bonds $ 500 $ 3 $ - $ 503 Agency mortgage-backed: residential 38 - - 38 $ 538 $ 3 $ - $ 541 Held-to-maturity Securities Agency mortgage-backed: residential $ 598 $ 16 $ 3 $ 611 At June 30, 2021, the Company’s debt securities consisted of mortgage-backed securities, which do not have a single maturity date. Actual maturities may differ from contractual maturities, because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities without a single maturity, primarily mortgage-backed, are not shown. There were no sales of securities during the fiscal year ended June 30, 2021 or 2020. At June 30, 2021 the Company had $258,000 in held-to-maturity mortgage-backed securities with gross unrealized losses of $2,000, while at June 30, 2020, the Company had $67,000 in held-to-maturity mortgage-backed securities with gross unrealized losses of $3,000. Unrealized losses on agency mortgage-backed securities have not been recognized into income because they are of high credit quality (rated AA or higher), management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates and other market conditions. The fair value is expected to recover as the investments reach maturity. At June 30, 2021 and 2020, pledged securities totaled $1.8 million and $1.9 million, respectively. At June 30, 2021 and 2020, the pledged total included time deposits and/or overnight deposits of $1.5 million and $1.5 million, respectively.

Loans

Loans	12 Months Ended
	Jun. 30, 2021
Loan [Abstract]
LOANS	NOTE C - LOANS The composition of the loan portfolio at June 30 was as follows: (in thousands) 2021 2020 Residential real estate One- to four-family $ 224,125 $ 222,489 Multi-family 19,781 12,373 Construction 5,433 4,045 Land 1,308 765 Farm 2,234 2,354 Nonresidential real estate 35,492 33,503 Commercial and industrial 2,259 2,214 Consumer and other Loans on deposits 1,129 1,245 Home equity 7,135 7,645 Automobile 75 67 Unsecured 553 675 299,524 287,375 Allowance for loan losses (1,622 ) (1,488 ) $ 297,902 $ 285,887 The amounts above include net deferred loan fees of $167,000 and $177,000 as of June 30, 2021 and 2020. The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of June 30, 2021 and 2020. There were $595,000 and $751,000 in loans acquired with deteriorated credit quality at June 30, 2021 and 2020, respectively. June 30, 2021: (in thousands) Loans Loans acquired with Ending loans Ending allowance Loans individually evaluated for impairment: Residential real estate: One- to four-family $ 3,738 $ 595 $ 4,333 $ -- Multi-family 646 -- 646 -- Farm 274 -- 274 -- Nonresidential real estate 1,367 -- 1,367 -- Consumer and other: Unsecured 16 -- 16 -- 6,041 595 6,636 -- Loans collectively evaluated for impairment: Residential real estate: One- to four-family $ 219,792 $ 794 Multi-family 19,135 291 Construction 5,433 12 Land 1,308 3 Farm 1,960 5 Nonresidential real estate 34,125 494 Commercial and industrial 2,259 5 Consumer and other: Loans on deposits 1,129 2 Home equity 7,135 15 Automobile 75 -- Unsecured 537 1 292,888 1,622 $ 299,524 $ 1,622 * These loans were evaluated at acquisition date at their estimated fair value and there has been no subsequent deterioration since acquisition. June 30, 2020: (in thousands) Loans Loans acquired with Ending loans Ending allowance Unallocated Total Loans individually evaluated for impairment: Residential real estate: One- to four-family $ 3,983 $ 751 $ 4,734 $ -- $ -- $ -- Multi-family 671 -- 671 -- -- -- Construction 63 -- 63 -- -- -- Farm 309 -- 309 -- -- -- Nonresidential real estate 660 -- 660 -- -- -- 5,686 751 6,437 -- -- -- Loans collectively evaluated for impairment: Residential real estate: One- to four-family $ 217,755 $ 671 $ -- $ 671 Multi-family 11,702 184 -- 184 Construction 3,982 6 -- 6 Land 765 1 -- 1 Farm 2,045 4 -- 4 Nonresidential real estate 32,843 405 -- 405 Commercial and industrial 2,214 3 -- 3 Consumer and other Loans on deposits 1,245 2 -- 2 Home equity 7,645 11 -- 11 Automobile 67 -- -- -- Unsecured 675 1 -- 1 Unallocated -- -- 200 200 280,938 1,288 200 1,488 $ 287,375 $ 1,288 $ 200 $ 1,488 * These loans were evaluated at acquisition date at their estimated fair value and there has been no subsequent deterioration since acquisition. The following tables present impaired loans by class of loans as of and for the years ended June 30, 2021 and 2020: June 30, 2021: (in thousands) Unpaid Allowance Average Interest Cash Basis Income Recognized With no related allowance recorded: Residential real estate: One- to four-family $ 4,333 $ -- $ 4,534 $ 107 $ 107 Multi-family 646 -- 659 24 24 Construction -- -- 32 -- -- Farm 274 -- 292 35 35 Nonresidential real estate 1,367 -- 1,014 60 60 Consumer and other: Unsecured 16 -- 8 1 1 Total $ 6,636 $ -- $ 6,537 $ 227 $ 227 June 30, 2020: (in thousands) Unpaid Allowance Average Interest Cash Basis Recognized With no related allowance recorded: Residential real estate: One- to four-family $ 4,734 $ -- $ 4,713 $ 172 $ 172 Multi-family 671 -- 679 32 32 Construction 63 -- 13 -- -- Farm 309 -- 309 11 11 Nonresidential real estate 660 -- 701 47 47 Total $ 6,437 $ -- $ 6,415 $ 262 $ 262 The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual status by class of loans as of June 30, 2021 and 2020. The tables include loans acquired with deteriorated credit quality. At June 30, 2021, the table below includes approximately $365,000 of loans on nonaccrual and no loans past due over 90 days and still accruing of loans acquired with deteriorated credit quality, while at June 30, 2020, approximately $508,000 of loans on nonaccrual and no loans past due over 90 days and still accruing represent such loans. June 30, 2021 June 30, 2020 (in thousands) Nonaccrual Loans Past Nonaccrual Loans Past Residential real estate: One- to four-family $ 4,104 $ 243 $ 4,458 $ 1,135 Multi-family 646 -- 671 -- Construction -- -- 63 -- Farm 274 -- 309 -- Nonresidential real estate 1,367 -- 660 -- Commercial and industrial -- -- 4 -- Consumer 21 -- 95 -- $ 6,412 $ 243 $ 6,260 $ 1,135 One- to four-family loans in process of foreclosure totaled $577,000 and $694,000 at June 30, 2021 and 2020, respectively. Troubled Debt Restructurings: A Troubled Debt Restructuring (“TDR”) is the situation where the Bank grants a concession to the borrower that the Banks would not otherwise have considered due to the borrower’s financial difficulties. All TDRs are considered “impaired.” At June 30, 2021 and 2020, the Company had $1.7 million and $1.9 million of loans classified as TDRs, respectively. Of the TDRs at June 30, 2021, approximately 26.8% were related to the borrower’s completion of Chapter 7 bankruptcy proceedings with no reaffirmation of the debt to the Banks. During the year ended June 30, 2021, the Company had two loans, which were associated with a single borrower and were both secured by a single-family residence, restructured as TDRs. The loans were classified as TDRs pursuant to court action under Chapter 7 bankruptcy proceedings without the borrower reaffirming the debt personally. Those two loans were current and totaled $142,000 at June 30, 2021. In December 2020, Congress amended the CARES Act through the Consolidated Appropriation Act of 2021, which provided additional COVID-19 relief to American families and businesses, including extending TDR relief under the CARES Act until the earlier of December 31, 2021 or 60 days following the termination of the national emergency. The relief can only be applied to modifications for borrowers that were not more than 30 days past due as of December 31, 2019. The Company elected to adopt these provisions of the CARES Act. In response to the Covid-19 pandemic and the widespread economic downturn that immediately resulted, the Company adopted a loan forbearance plan in which then-current affected borrowers could request deferral of their loan payments for a period of three months. A total of $815,000 in loans were accepted into the plan for the twelve months ended June 30, 2021. At June 30, 2021 all of those loans had reached the end of their three-month deferral date period and returned to regular payment status. During the year ended June 30, 2020, the Company had six loans restructured as TDRs. One borrower refinanced a piece of one- to four-family, non-owner occupied, residential property to bring to current amounts owed on other loans with the Bank. Because the borrower’s financial condition had deteriorated, it was unlikely that the borrower could have secured financing elsewhere. The restructured loan is collateralized and cross-collateralized by real estate. Three single family residential borrowers filed for Chapter 7 bankruptcy protection and did not reaffirm the debts personally, although the Company’s collateral position remains intact. Finally, a first and second mortgage on an 8-plex were refinanced into a single loan with a slightly extended maturity term and a lower interest rate, which was consistent with similarly-priced comparable loans at the time of refinance In order to determine whether a borrower is experiencing financial difficulty, we consider the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. The Company had no allocated specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of June 30, 2021 or 2020. At June 30, 2021 and 2020, TDR loans on nonaccrual status totaled $1.7 million and $1.8 million, respectively. The Company had no commitments to lend additional amounts as of June 30, 2021 and 2020, to customers with outstanding loans that are classified as troubled debt restructurings. The Company had no TDR loans which defaulted during fiscal 2021 or during fiscal 2020. The following tables present the aging of the principal balance outstanding in accruing past due loans as of June 30, 2021 and 2020, by class of loans. The tables include loans acquired with deteriorated credit quality. At June 30, 2021, the table below includes $96,000 in loans 30-89 days past due and approximately $25,000 of loans past due over 90 days that were acquired with deteriorated credit quality, while at June 30, 2020, the table below includes $101,000 in loans 30-89 days past due and approximately $28,000 of loans past due over 90 days of such loans. June 30, 2021: (in thousands) 30-89 Days Greater than 90 Days Total Loans Not Total Residential real estate: One-to four-family $ 2,392 $ 1,338 $ 3,730 $ 220,395 $ 224,125 Multi-family -- -- -- 19,781 19,781 Construction 80 -- 80 5,353 5,433 Land -- -- -- 1,308 1,308 Farm 101 -- 101 2,133 2,234 Nonresidential real estate -- 241 241 35,251 35,492 Commercial and industrial 6 -- 6 2,253 2,259 Consumer and other: Loans on deposits -- -- -- 1,129 1,129 Home equity 116 -- 116 7,019 7,135 Automobile -- -- -- 75 75 Unsecured 4 -- 4 549 553 Total $ 2,699 $ 1,579 $ 4,278 $ 295,246 $ 299,524 June 30, 2020: (in thousands) 30-89 Days Greater than 90 Days Total Loans Not Total Residential real estate: One-to four-family $ 2,546 $ 2,670 $ 5,216 $ 217,273 $ 222,489 Multi-family -- -- -- 12,373 12,373 Construction 192 63 255 3,790 4,045 Land -- -- -- 765 765 Farm 107 309 416 1,938 2,354 Nonresidential real estate 57 253 310 33,193 33,503 Commercial and industrial -- -- -- 2,214 2,214 Consumer and other: Loans on deposits -- -- -- 1,245 1,245 Home equity 255 90 345 7,300 7,645 Automobile -- -- -- 67 67 Unsecured -- -- -- 675 675 Total $ 3,157 $ 3,385 $ 6,542 $ 280,833 $ 287,375 Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on an annual basis. The Company uses the following definitions for risk ratings: Special Mention. Substandard. Doubtful. Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered to be pass rated loans. Loans listed that are not rated are included in groups of homogeneous loans and are evaluated for credit quality based on performing status. See the aging of past due loan table above. As of June 30, 2021, and 2020, and based on the most recent analysis performed, the risk category of loans by class of loans was as follows: June 30, 2021: (in thousands) Pass Special Mention Substandard Doubtful Residential real estate: One- to four-family $ 217,485 $ 596 $ 6,044 $ -- Multi-family 19,135 -- 646 -- Construction 5,433 -- -- -- Land 1,308 -- -- -- Farm 1,960 -- 274 -- Nonresidential real estate 32,748 924 1,820 -- Commercial and industrial 2,259 -- -- -- Consumer and other: Loans on deposits 1,129 -- -- -- Home equity 7,044 39 52 -- Automobile 75 -- -- -- Unsecured 546 -- 7 -- Total $ 289,122 $ 1,559 $ 8,843 $ -- June 30, 2020: (in thousands) Pass Special Mention Substandard Doubtful Residential real estate: One- to four-family $ 215,010 $ 742 $ 6,737 $ -- Multi-family 11,702 -- 671 -- Construction 3,982 -- 63 -- Land 765 -- -- -- Farm 2,045 -- 309 -- Nonresidential real estate 31,529 939 1,035 -- Commercial and industrial 2,188 -- 26 -- Consumer and other: Loans on deposits 1,245 -- -- -- Home equity 7,505 39 101 -- Automobile 67 -- -- -- Unsecured 670 -- 5 -- Total $ 276,708 $ 1,720 $ 8,947 $ -- The following tables present the activity in the allowance for loan losses by portfolio segment for the years ended June 30, 2021 and 2020: June 30, 2021: (in thousands) Beginning balance Provision for loan losses Loans charged off Recoveries Ending balance Residential real estate: One- to four-family $ 671 $ 146 $ (23 ) $ -- $ 794 Multi-family 184 107 -- -- 291 Construction 6 6 -- -- 12 Land 1 2 -- -- 3 Farm 4 1 -- -- 5 Nonresidential real estate 405 89 -- -- 494 Commercial and industrial 3 2 -- -- 5 Consumer and other: Loans on deposits 2 -- -- -- 2 Home equity 11 42 (45 ) 7 15 Auto -- -- -- -- -- Unsecured 1 (3 ) -- 3 1 Unallocated 200 (200 ) -- -- -- Totals $ 1,488 $ 192 $ (68 ) $ 10 $ 1,622 June 30, 2020: (in thousands) Beginning balance Provision for loan losses Loans charged off Recoveries Ending balance Residential real estate: One- to four-family $ 685 $ 49 $ (65 ) $ 2 $ 671 Multi-family 200 (16 ) -- -- 184 Construction 6 -- -- -- 6 Land 1 -- -- -- 1 Farm 6 (2 ) -- -- 4 Nonresidential real estate 336 69 -- -- 405 Commercial and industrial 5 (2 ) -- -- 3 Consumer and other: Loans on deposits 3 (1 ) -- -- 2 Home equity 14 (3 ) -- -- 11 Auto -- 8 (8 ) -- -- Unsecured -- 1 -- -- 1 Unallocated 200 -- -- -- 200 Totals $ 1,456 $ 103 $ (73 ) $ 2 $ 1,488 Purchased Loans: The Company purchased loans during the fiscal year ended June 30, 2013 for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans, net of a purchase credit discount of $88,000 and $351,000, at June 30, 2021 and 2020, respectively, was as follows: (in thousands) 2021 2020 Residential real estate: One- to four-family $ 595 $ 751 Accretable yield, or income expected to be collected on loans purchased during fiscal year 2013, for the years ended June 30 was as follows: (in thousands) 2021 2020 Balance at beginning of year $ 447 $ 544 Accretion of income (57 ) (97 ) Balance at end of year $ 390 $ 447 For those purchased loans disclosed above, the Company made no increase in allowance for loan losses for the years ended June 30, 2021 or 2020, nor were any allowance for loan losses reversed during those years.

Real Estate Owned

Real Estate Owned	12 Months Ended
	Jun. 30, 2021
Real Estate Owned [Abstract]
REAL ESTATE OWNED	NOTE D - REAL ESTATE OWNED Activity in real estate owned for the years ended June 30 was as follows: (in thousands) 2021 2020 Balance at beginning of year $ 640 $ 710 Loans transferred to real estate owned 358 304 Capitalized expenditures 1 44 Valuation adjustments (19 ) (36 ) Disposals (898 ) (382 ) Balance at end of year $ 82 $ 640

Premises and Equipment

Premises and Equipment	12 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	NOTE E - PREMISES AND EQUIPMENT Premises and equipment at June 30 are comprised of the following: (in thousands) 2021 2020 Land $ 1,516 $ 1,516 Buildings and improvements 6,536 6,493 Furniture and equipment 2,172 2,204 Automobiles -- 36 10,224 10,249 Less: accumulated depreciation 5,527 5,333 Balance at end of year $ 4,697 $ 4,916

Goodwill

Goodwill	12 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	NOTE F - GOODWILL Goodwill of $14.5 million was originally recorded in March 2005 when the Company, as part of its initial public offering, purchased Frankfort First Bancorp, Inc., with a portion of the stock and cash proceeds from the offering. The Company has $947,000 of goodwill net of impairment losses of $13.6 million at June 30, 2021 and 2020. During the fiscal year ended June 30, 2020, a prolonged decline in the stock price of the Company exacerbated by the COVID-19 pandemic and its related economic impact led to management’s performance of a goodwill impairment analysis as of June 30, 2020. Based on the results of this analysis and in conjunction with management’s early adoption of ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

Deposits

Deposits	12 Months Ended
	Jun. 30, 2021
Statistical Disclosure for Banks [Abstract]
DEPOSITS	NOTE G - DEPOSITS Deposits consist of the following major classifications at June 30: (in thousands) 2021 2020 Non-interest bearing checking accounts $ 13,090 $ 8,258 Checking accounts 21,352 15,133 Savings accounts 56,576 45,571 Money market demand deposits 10,933 9,156 Total demand, transaction and passbook deposits 101,951 78,118 Certificates of deposit 124,892 134,155 Total deposits $ 226,843 $ 212,273 At June 30, 2021 and 2020, the Banks had certificate of deposit accounts with balances equal to or in excess of $250,000 totaling approximately $11.2 million and $13.0 million, respectively. Maturities of outstanding certificates of deposit at June 30 are summarized as follows: (in thousands) 2021 2022 $ 85,217 2023 27,703 2024 8,169 2025 2,002 2026 and thereafter 1,801 $ 124,892

Advances from the Federal Home

Advances from the Federal Home Loan Bank	12 Months Ended
	Jun. 30, 2021
Federal Home Loan Banks [Abstract]
ADVANCES FROM THE FEDERAL HOME LOAN BANK	NOTE H - ADVANCES FROM THE FEDERAL HOME LOAN BANK Advances from the Federal Home Loan Bank, collateralized at June 30, 2021 and 2020 by pledges of certain qualifying residential mortgage loans totaling $133.7 million and $172.0 million, respectively, and the Banks’ investment in Federal Home Loan Bank stock, are summarized as follows: Maturing year ending June 30 (in thousands) 2022 $ 23,807 2023 25,679 2024 3,659 2025 3,643 2026 31 2027 22 2028 16 2029-2032 16 $ 56,873 At June 30, 2021 interest rates for advances were fixed ranging from 0.20% to 2.30%, with a weighted-average interest rate of 0.71%. At June 30, 2020 interest rates for advances were fixed ranging from 0.21% to 2.30%, with a weighted-average interest rate of 0.99%. Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. Based on collateral composed of first mortgage loans and the Company’s holdings of FHLB stock, the Company was eligible to borrow up to $76.8 million as of June 30, 2021. In addition, we have the ability to borrow from the Federal Reserve Bank Discount Window. At June 30, 2021, based on home equity loans and share loans we had pledged collateral which would enable us to borrow up to $4.6 million. First Federal Savings Bank of Kentucky at June 30, 2021, had a $2.0 million Fed Funds line of credit with the Bankers’ Bank of Kentucky.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE I - INCOME TAXES Federal income taxes on earnings differs from that computed at the statutory corporate tax rate for the years ended June 30, 2021 and 2020, as follows: (in thousands) 2021 2020 Income taxes at the statutory rate $ 456 $ (2,579 ) Increase (decrease) resulting primarily from: Cash surrender value of life insurance (19 ) (16 ) State income taxes (83 ) -- Deferred tax liability adjustment, net, resulting from Kentucky tax legislation -- 14 Goodwill impairment -- 2,848 Other (2 ) (3 ) $ 352 $ 264 The composition of the Company’s net deferred tax liability at June 30 is as follows: (in thousands) 2021 2020 Taxes (payable) refundable on temporary differences at estimated corporate tax rate: Deferred tax assets: General loan loss allowance $ 405 $ 371 Accrued expenses 102 164 Fair value accounting adjustments on acquisition 199 199 Nonaccrued interest on loans 109 118 Other real estate owned adjustments 3 17 Depreciation 42 37 Charitable contributions -- 12 State net operating loss carryforward 227 -- Total deferred tax assets 1,087 918 Deferred tax liabilities: Federal Home Loan Bank stock dividends (981 ) (981 ) Deferred loan origination costs (30 ) (33 ) Loan servicing rights (37 ) (24 ) Accrual to cash adjustment (106 ) (170 ) Fair value accounting adjustments on acquisition (547 ) (547 ) Total deferred tax liabilities (1,701 ) (1,755 ) Net deferred tax liability $ (614 ) $ (837 ) The Company recorded a deferred tax asset for the state net operating loss carryforward. The losses are expected to be utilized when the Company begins filing a combined Kentucky income tax return with the Banks in 2021. The loss carryforward is $5,747 and expires beginning 2023. Prior to 1997, the Banks were allowed a special bad debt deduction, generally limited to 8% of otherwise taxable income, and subject to certain limitations based on aggregate loans and deposit account balances at the end of the year. If the amounts that qualified as deductions for federal income taxes are later used for purposes other than bad debt losses, including distributions in excess of accumulated earnings and profits, such distributions will be subject to federal income taxes at the then current corporate income tax rate. Retained earnings at June 30, 2021, include approximately $5.2 million for which federal income taxes have not been provided. The amount of unrecognized deferred tax liability relating to the cumulative bad debt deduction was approximately $1.3 million at June 30, 2021.

Loan Commitments

Loan Commitments	12 Months Ended
	Jun. 30, 2021
Loan Commitments [Abstract]
LOAN COMMITMENTS	NOTE J - LOAN COMMITMENTS The Banks are a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of their customers, including commitments to extend credit. Such commitments involve, to varying degrees, elements of credit and interest-rate risk in excess of the amount recognized in the consolidated statements of financial condition. The contract or notional amounts of the commitments reflect the extent of the Banks’ involvement in such financial instruments. The Banks’ exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual notional amount of those instruments. The Banks use the same credit policies in making commitments and conditional obligations as those utilized for on-balance-sheet instruments. At June 30, 2021 and 2020, the Banks had the following outstanding loan commitments: 2021 2020 (in thousands) Fixed Variable Fixed Variable Unused commitment: Revolving, open-end lines secured by real estate $ -- $ 11,835 $ -- $ 10,354 Commitments to fund real estate construction loans 519 4,125 854 8,443 Other unused commitment: Commercial and industrial loans 1,364 -- 2,541 -- Other 886 4,207 1,576 2,454 Letters of credit -- -- -- -- Commitments to make loans are generally made for periods of 60 days or less. The fixed rate loan commitments at June 30, 2021 totaled $519,000 and had interest rates ranging from 2.63% to 3.00% and maturities ranging from 1 year to 30 years. The fixed rate loan commitments at June 30, 2020 totaled $854,000 and had interest rates ranging from 3.25% to 6.00% with maturities ranging from 1 year to 30 years.

Stockholders' Equity and Regula

Stockholders' Equity and Regulatory Capital	12 Months Ended
	Jun. 30, 2021
Stockholders’ Equity and Regulatory Capital [Abstract]
STOCKHOLDERS' EQUITY AND REGULATORY CAPITAL	NOTE K - STOCKHOLDERS’ EQUITY AND REGULATORY CAPITAL Qualified Thrift Lender – Dividend Restrictions – Regulatory Capital Requirements - Prompt corrective action regulations provide five classifications: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. Capital Standards – Community Bank Leverage Ratio Certain community banks and holding companies (which include the Company, Frankfort First, First Federal of Kentucky and First Federal of Hazard) that satisfy certain qualifying criteria, including having less than $10 billion in average total consolidated assets and a leverage ratio (referred to as the “community bank leverage ratio”) of greater than 9%, were eligible to opt-in to the CBLR framework. The CBLR ratio is the ratio of a banking organization’s Tier 1 capital to its average total consolidated assets as reported on the banking organization’s applicable regulatory filings. The Banks elected to utilize the CBLR framework effective for the quarter ended March 31, 2020. On April 6, 2020, federal banking regulators issued two interim final rules that make changes to the CBLR ratio framework and implement certain directives of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The first of the April 2020 interim final rules reduced the minimum ratio from 9% to 8% for those banking organizations otherwise meeting the other existing qualifying criteria) as well as establishing a two-quarter grace period for qualifying community banking organizations whose leverage ratios fall below the 8% CBLR requirement, so long as the banking organization maintains a leverage ratio of 7% or greater. The second interim final rule provides a transition from the temporary 8% CBLR requirement to a 9% requirement. It establishes a minimum CBLR of 8% for the second through fourth quarters of 2020, an 8.5% minimum for 2021 and 9% thereafter, while maintaining a two-quarter grace period for qualifying community banking organizations whose leverage ratios fall no more than 100 basis points below the applicable CBLR requirement. The Company intends to continue with the existing layered ratio structure. Under this framework the Company and the Banks would be considered well-capitalized under the applicable guidelines. The Basel III, which became effective January 1, 2015, established higher minimum risk-based capital ratio requirements, a new common equity Tier 1 risk-based capital ratio and a new capital conservation buffer (“CCB.”) The regulations also included revisions to the definition of capital and changes in the risk-weighting of certain assets, in addition to redefining “well capitalized” as a 6.5% common equity Tier 1 risk-based capital ratio, an 8.0% Tier 1 risk-based capital ratio, a 10.0% total risk-based capital ratio and a 5.0% Tier 1 leverage ratio. The CCB is 2.5% and, if the Company and the Banks were unable to qualify for the CBLR framework, in order to avoid limitations on capital distributions, including dividend payments, engaging in share repurchases and certain discretionary bonus payments to executive officers, must maintain the CCB at the appropriate level. The Company’s regulatory capital as of June 30, 2021, is presented in the following table. Actual Minimum Requirement For (Dollars in thousands) Amount Ratio Amount Ratio Risk-based capital: Common Equity Tier 1 capital ratio $ 51,349 27.5 % $ 8,408 4.5 % Tier 1 (core) capital ratio $ 51,349 27.5 $ 11,211 6.0 Total capital ratio $ 51,349 27.5 $ 14,947 8.0 Leverage capital: Tier 1 leverage capital to average assets $ 51,349 15.4 $ 13,378 4.0 The Banks’ regulatory capital as of June 30, 2021, is presented in the following table. Actual Minimum Requirement For (Dollars in thousands) Amount Ratio Amount Ratio Community Bank Leverage Ratio: First Federal Savings and Loan Association of Hazard $ 18,376 20.9 % $ 7,021 8.0 % First Federal Savings Bank of Kentucky $ 30,276 12.3 $ 19,734 8.0 The Company’s regulatory capital as of June 30, 2020, is presented in the following table. Actual Minimum Requirement For (Dollars in thousands) Amount Ratio Amount Ratio Risk-based capital: Common Equity Tier 1 capital ratio $ 50,962 26.1 % $ 8,305 4.5 % Tier 1 (core) capital ratio $ 50,962 26.1 $ 11,073 6.0 Total capital ratio $ 50,962 26.1 $ 14,764 8.0 Leverage capital: Tier 1 leverage capital to average assets $ 50,962 15.7 $ 13,220 4.0 The Banks’ regulatory capital as of June 30, 2020, is presented in the following table. Actual Minimum Requirement For (Dollars in thousands) Amount Ratio Amount Ratio Community Bank Leverage Ratio: First Federal Savings and Loan Association of Hazard $ 18,256 21.9 % $ 3,740 8.0 % First Federal Savings Bank of Kentucky $ 29,898 12.1 $ 15,153 8.0 As of June 30, 2021 and 2020, management believes that First Federal of Hazard and First Federal of Kentucky met all capital adequacy requirements to which the Banks were subject. There are no conditions or subsequent events that have occurred that managements believes have changed the Banks’ categories. Regulations of the Board of Governors of the Federal Reserve System governing mutual holding companies require First Federal MHC to meet certain criteria before the company may waive the receipt by it of any common stock dividend declared by Kentucky First Federal Bancorp. During each of the fiscal years ended June 30, 2021 and 2020, and pursuant to the provisions allowed by the Board of Governors of the Federal Reserve System, First Federal MHC waived $1.9 million in dividends.

Condensed Financial Statements

Condensed Financial Statements of Kentucky First Federal Bancorp	12 Months Ended
	Jun. 30, 2021
Condensed Financial Information Disclosure [Abstract]
CONDENSED FINANCIAL STATEMENTS OF KENTUCKY FIRST FEDERAL BANCORP	NOTE L - CONDENSED FINANCIAL STATEMENTS OF KENTUCKY FIRST FEDERAL BANCORP The following condensed financial statements summarize the financial position of Kentucky First Federal Bancorp as of June 30, 2021 and 2020, and the results of its operations and its cash flows for the fiscal years ended June 30, 2021 and 2020. 2021 2020 ASSETS Interest-bearing deposits in First Federal of Hazard $ 933 $ 1,282 Interest-bearing deposits in First Federal of Kentucky 1,070 167 Other interest-bearing deposits 9 34 Investment in First Federal of Hazard 18,407 18,314 Investment in Frankfort First 31,646 31,257 Prepaid expenses and other assets 458 883 Total assets $ 52,523 $ 51,937 LIABILITIES AND SHAREHOLDERS’ EQUITY Accounts payable and other liabilities $ 227 $ 26 Total liabilities 227 26 Shareholders’ equity 52,296 51,911 Total liabilities and shareholders’ equity $ 52,523 $ 51,937 2021 2020 Income Interest income $ 27 $ 42 Non-interest income 15 -- Dividends from First Federal of Hazard 590 607 Equity in undistributed (excess distributed) earnings of First Federal of Hazard 101 (47 ) Dividends from Frankfort First 826 576 Equity in undistributed (excess distributed) earnings of Frankfort First 434 (13,459 ) Total income 1,993 (12,281 ) Non-interest expenses 330 325 Earnings (loss) before income taxes 1,663 (12,606 ) Income tax expense (benefit) (157 ) (59 ) Net income (loss) 1,820 (12,547 ) Other comprehensive (loss) income, net of tax-related effects: Unrealized holding losses on securities designated as available for sale during the year, net of taxes (benefits) of $(1) and $(1) in 2021 and 2020, respectively (2 ) (2 ) Comprehensive income (loss) $ 1,818 $ (12,549 ) 2021 2020 Cash flows from operating activities: Net (loss) earnings for the year $ 1,820 $ (12,547 ) Adjustments to reconcile net earnings to net cash provided by operating activities: Excess (deficit) distributions over earnings (undistributed earnings) from consolidated subsidiaries (535 ) 13,509 Noncash compensation expense 122 112 Gain on sale of automobile 16 -- Depreciation 11 12 Increase (decrease) in cash due to changes in: Prepaid expenses and other assets 449 68 Other liabilities 201 4 Net cash provided by operating activities 2,084 1,158 Cash flows from investing activities: Additions to premises and equipment, net -- -- Net cash used in investing activities -- -- Cash flows from financing activities: Treasury stock purchases (167 ) (542 ) Dividends paid on common stock (1,388 ) (1,388 ) Net cash used in financing activities (1,555 ) (1,930 ) Net increase (decrease) in cash and cash equivalents 529 (772 ) Cash and cash equivalents at beginning of year 1,483 2,255 Cash and cash equivalents at end of year $ 2,012 $ 1,483

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Principles of Consolidation	1. Principles of Consolidation
Use of Estimates	2. Use of Estimates
Securities	3. Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis.
Loans	4. Loans All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.
Loans held for sale and Mortgage Servicing Rights	5. Loans held for sale and Mortgage Servicing Rights In selling loans, the Company utilizes a program with the Federal Home Loan Bank, retaining servicing on loans sold. Mortgage servicing rights on originated loans that have been sold are initially recorded at fair value. Capitalized servicing rights are amortized in proportion to and over the period of estimated servicing revenues. The Company recorded amortization related to mortgage servicing rights totaling $28,000 and $20,000 during the years ended June 30, 2021 and 2020, respectively. The carrying value of the Company’s mortgage servicing rights, which approximated fair value, totaled approximately $147,000 and $96,000 at June 30, 2021 and 2020, respectively. The Company was servicing mortgage loans of approximately $18.3 million and $12.1 million that had been sold to the Federal Home Loan Bank at June 30, 2021 and 2020, respectively. Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with other non-interest income on the income statement. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. Servicing fee income which is reported on the income statement as other non-interest income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Servicing fees totaled $14,000 and $7,000 for the fiscal years ended June 30, 2021 and 2020, respectively. Late fees and ancillary fees related to loan servicing are not material.
Allowance for Loan Losses	6. Allowance for Loan Losses The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired or loans otherwise classified as substandard or doubtful. The general component covers all loans and is based on historical loss experience adjusted for current factors. In consultation with regulators, the Company considers a time frame of two years when estimating the appropriate level of allowance for loan losses. This period may be shortened or extended based on anticipated trends in the banks or in the banks’ markets. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent eight quarters. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; changes in lending policies, procedures and practices; experience, ability and depth of lending management and other relevant staff; economic trends and conditions; industry conditions; and effects of changes in credit concentrations. Our portfolio segments include residential real estate, nonresidential real estate and land, loans on deposits and consumer and other loans. Risk factors associated with our portfolio segments are as follows: Residential Real Estate Our primary lending activity is the origination of mortgage loans, which enable a borrower to purchase or refinance existing homes in the Banks’ respective market areas. We further classify our residential real estate loans as one- to four-family (owner-occupied vs nonowner-occupied), multi-family or construction. We believe that our first mortgage position on loans secured by residential real estate presents lower risk than our other loans, with the exception of loans secured by deposits. We offer a mix of adjustable-rate and fixed-rate mortgage loans with terms up to 30 years for owner-occupied properties. For these properties a borrower may be able to borrow up to 95% of the value with private mortgage insurance. Alternatively, the borrower may be able to borrow up to 90% of the value through other programs offered by the bank. We offer loans on one- to four-family rental properties at a maximum of 80% loan-to-value (“LTV”) ratio and we generally charge a slightly higher interest rate on such loans. We also originate loans to individuals to finance the construction of residential dwellings for personal use or for use as rental property. We occasionally lend to builders for construction of speculative or custom residential properties for resale, but on a limited basis. Construction loans are generally less than one year in length, do not exceed 80% of the appraised value, and provide for the payment of interest only during the construction phase. Funds are disbursed as progress is made toward completion of the construction. Multi-family and Nonresidential Loans We offer mortgage loans secured by residential multi-family (five or more units), and nonresidential real estate. Nonresidential real estate loans are comprised generally of commercial office buildings, churches and properties used for other purposes. Generally, these loans are originated for 25 years or less and do not exceed 80% of the appraised value. Loans secured by multi-family and commercial real estate generally have larger balances and involve a greater degree of risk than one- to four-family residential mortgage loans. These loans depend on the borrower’s creditworthiness and the feasibility and cash flow potential of the project. Payments on loans secured by income properties often depend on successful operation and management of the properties. As a result, repayment on such loans may be subject to a greater extent to adverse conditions in the real estate market or economy than owner-occupied residential loans. Consumer lending Our consumer loans include home equity lines of credit, loans secured by savings deposits, automobile loans, and unsecured loans. Home equity loans are generally second mortgage loans subordinate only to first mortgages also held by the bank and do not exceed 80% of the estimated value of the property. We do offer home equity loans up to 90% of the estimated value to qualified borrowers and these loans carry a premium interest rate. Loans secured by savings are originated up to 90% of the depositor’s savings account balance and bear interest at a rate higher than the rate paid on the deposit account. Because the deposit account must be pledged as collateral to secure the loan, the inherent risk of this type of loan is minimal. Loans secured by automobiles are made directly to consumers (there are no relationships with dealers) and are based on the value of the vehicle and the borrower’s creditworthiness. Vehicle loans present a higher level of risk because of the natural decline in the value of the property as well as its mobility. Unsecured loans are based entirely on the borrower’s creditworthiness and present the highest level of risk to the bank. The Banks choose the most appropriate method for accounting for impaired loans. For secured loans, which make up the vast majority of the loans in the banks’ portfolio, this method involves determining the fair value of the collateral, reduced by estimated selling costs. Where appropriate, the Banks would account for impaired loans by determining the present value of expected future cash flows discounted at the loan’s effective interest rate. A loan is considered impaired when, based on current information and events, it is probable that a creditor will be unable to collect all amounts due according to the contractual terms of the loan agreement. Although most of our loans are secured by collateral, we rely heavily on the capacity of our borrowers to generate sufficient cash flow to service their debt. As a result, our loans do not become collateral-dependent until there is deterioration in the borrower’s cash flow and financial condition, which makes it necessary for us to look to the collateral for our sole source of repayment. Collateral-dependent loans which are more than ninety days delinquent are considered to constitute more than a minimum delay in repayment and are evaluated for impairment under the policy at that time. We utilize updated independent appraisals to determine fair value for collateral-dependent loans, adjusted for estimated selling costs, in determining our specific reserve. In some situations management does not secure an updated independent appraisal. These situations may involve small loan amounts or loans that, in management’s opinion, have an abnormally low loan-to-value ratio. With respect to the Banks’ investment in troubled debt restructurings, multi-family and nonresidential loans, and the evaluation of impairment thereof, such loans are nonhomogenous and, as such, may be deemed to be collateral-dependent when they become more than 90 days delinquent. We obtain updated independent appraisals in these situations or when we suspect that the previous appraisal may no longer be reflective of the property’s current fair value. This process varies from loan to loan, borrower to borrower, and also varies based on the nature of the collateral.
Federal Home Loan Bank Stock	7. Federal Home Loan Bank Stock
Real Estate Owned	8. Real Estate Owned 9. Premises and Equipment 10. Income Taxes A tax provision is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters as income tax expense. Kentucky First Federal Bancorp and Frankfort First Bancorp, Inc., each are subject to state income taxes in the Commonwealth of Kentucky. Both of the Banks became subject to state income tax in the Commonwealth on January 1, 2021, according to legislation enacted in the spring of 2019. On March 26, 2019, Kentucky enacted H.B. 354 repealing the bank franchise tax. On April 9, 2019, Kentucky enacted related legislation, H.B. 458, which made technical corrections to H.B. 354. Beginning on or after January 1, 2021, the banks will be subject to the corporation income tax and limited liability entity tax (“LLET”) instead of the savings and loan tax. Because the banks operate on a fiscal year, they must file a short-year corporation income tax and LLET return and pay any tax due for the period beginning January 1, 2021 through the end of the banks’ normal fiscal year. With few exceptions, the Company is no longer subject to U.S. federal, state and local tax examinations by tax authorities for years before 2018. 11. Retirement and Employee Benefit Plans The Company also maintains a nonqualified deferred compensation plan for the benefit of certain directors, which is closed to any future deferrals. The expense incurred for the deferred compensation was $0 and $2,000 for the fiscal years ended June 30, 2021 and 2020, respectively, while the liabilities totaled $51,000 and $51,000 at June 30, 2021 and 2020, respectively. The Company maintains an Employee Stock Ownership Plan (“ESOP”) which provides retirement benefits for substantially all full-time employees who have completed one year of service and have attained the age of 21. Annual contributions are made to the ESOP equal to the ESOP’s debt service less dividends received by the ESOP on unallocated shares. Shares in the ESOP were acquired using funds provided by a loan from the Company and, accordingly, the cost of those shares is shown as a reduction of stockholders’ equity. Shares are released to participants proportionately as the loan is repaid. Dividends on allocated shares are recorded as dividends and charged to retained earnings. Dividends on unallocated shares are used to repay loan principal and accrued interest. Compensation expense is recorded equal to the fair value of shares committed to be released during a given fiscal year. Allocation of shares to the ESOP participants is contingent upon the repayment of a loan to Kentucky First Federal Bancorp totaling $277,000 and $528,000 at June 30, 2021 and 2020, respectively. The Company recorded expense for the ESOP of approximately $122,000 and $135,000 for the years ended June 30, 2021 and 2020, respectively. Shares may be surrendered from the plan as employees leave employment. Total shares surrendered from the plan totaled 217,706 and 194,445 at June 30, 2021 and 2020, respectively. The amounts contributed to the ESOP were $280,000 for each of the years 2021 and 2020. For the fiscal year ended June 30, 2021 2020 Allocated shares 99,668 104,254 Shares committed to be released 9,338 9,338 Unearned shares 10,261 28,936 Total ESOP shares 119,267 142,528 Fair value of unearned shares at End of period $ 76,000 $ 195,000 The Company maintains a 401(k) plan for the benefit of all full-time employees. No employer contributions have been made to the 401(k) plan. 12. Earnings Per Share For the fiscal year ended June 30, 2021 2020 Net income (loss) allocated to common shareholders, basic and diluted $ 1,820,000 $ (12,547,000 ) EARNINGS (LOSS) PER SHARE $ 0.22 $ (1.52 ) Weighted average common shares outstanding, basic and diluted 8,216,193 8,251,860 Basic earnings per share is computed based upon the weighted-average shares outstanding during the year (which excludes treasury shares) less average shares in the ESOP that are unallocated and not committed to be released. There were no options outstanding for fiscal years 2021 and 2020. 13. Fair Value of Assets and Liabilities Level 1 Level 2 Level 3 Following is a description of the valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying balance sheet, as well as the general classification of such instruments pursuant to the valuation hierarchy. Securities Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The following table presents the fair value measurements of assets and liabilities measured at fair value on a recurring basis at June 30, 2021 and 2020. The securities represented are only those classified as available-for sale. Fair Value Measurements Using Quotes Prices Identical Significant Other Significant (in thousands) Fair Value (Level 1) (Level 2) (Level 3) 2021 Agency mortgage-backed: residential $ 33 $ -- $ 33 $ -- 2020 Agency bonds $ 503 $ -- $ 503 $ -- Agency mortgage-backed: residential $ 38 $ -- $ 38 $ -- There were no transfers between levels 1 and 2. Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying consolidated balance sheet, as well as the general classification of such assets pursuant to the valuation hierarchy. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. Impaired Loans The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent independent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value and totaled $0 and $0 for the years ended June 30, 2021 and 2020, respectively. Independent appraisals for collateral-dependent loans are updated periodically (usually every 12-24 months depending on the size of the loan and the loan-to-value ratio). Real Estate Owned
Premises and Equipment	9. Premises and Equipment
Income Taxes	10. Income Taxes A tax provision is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters as income tax expense. Kentucky First Federal Bancorp and Frankfort First Bancorp, Inc., each are subject to state income taxes in the Commonwealth of Kentucky. Both of the Banks became subject to state income tax in the Commonwealth on January 1, 2021, according to legislation enacted in the spring of 2019. On March 26, 2019, Kentucky enacted H.B. 354 repealing the bank franchise tax. On April 9, 2019, Kentucky enacted related legislation, H.B. 458, which made technical corrections to H.B. 354. Beginning on or after January 1, 2021, the banks will be subject to the corporation income tax and limited liability entity tax (“LLET”) instead of the savings and loan tax. Because the banks operate on a fiscal year, they must file a short-year corporation income tax and LLET return and pay any tax due for the period beginning January 1, 2021 through the end of the banks’ normal fiscal year. With few exceptions, the Company is no longer subject to U.S. federal, state and local tax examinations by tax authorities for years before 2018. 11. Retirement and Employee Benefit Plans The Company also maintains a nonqualified deferred compensation plan for the benefit of certain directors, which is closed to any future deferrals. The expense incurred for the deferred compensation was $0 and $2,000 for the fiscal years ended June 30, 2021 and 2020, respectively, while the liabilities totaled $51,000 and $51,000 at June 30, 2021 and 2020, respectively. The Company maintains an Employee Stock Ownership Plan (“ESOP”) which provides retirement benefits for substantially all full-time employees who have completed one year of service and have attained the age of 21. Annual contributions are made to the ESOP equal to the ESOP’s debt service less dividends received by the ESOP on unallocated shares. Shares in the ESOP were acquired using funds provided by a loan from the Company and, accordingly, the cost of those shares is shown as a reduction of stockholders’ equity. Shares are released to participants proportionately as the loan is repaid. Dividends on allocated shares are recorded as dividends and charged to retained earnings. Dividends on unallocated shares are used to repay loan principal and accrued interest. Compensation expense is recorded equal to the fair value of shares committed to be released during a given fiscal year. Allocation of shares to the ESOP participants is contingent upon the repayment of a loan to Kentucky First Federal Bancorp totaling $277,000 and $528,000 at June 30, 2021 and 2020, respectively. The Company recorded expense for the ESOP of approximately $122,000 and $135,000 for the years ended June 30, 2021 and 2020, respectively. Shares may be surrendered from the plan as employees leave employment. Total shares surrendered from the plan totaled 217,706 and 194,445 at June 30, 2021 and 2020, respectively. The amounts contributed to the ESOP were $280,000 for each of the years 2021 and 2020. For the fiscal year ended June 30, 2021 2020 Allocated shares 99,668 104,254 Shares committed to be released 9,338 9,338 Unearned shares 10,261 28,936 Total ESOP shares 119,267 142,528 Fair value of unearned shares at End of period $ 76,000 $ 195,000 The Company maintains a 401(k) plan for the benefit of all full-time employees. No employer contributions have been made to the 401(k) plan. 12. Earnings Per Share For the fiscal year ended June 30, 2021 2020 Net income (loss) allocated to common shareholders, basic and diluted $ 1,820,000 $ (12,547,000 ) EARNINGS (LOSS) PER SHARE $ 0.22 $ (1.52 ) Weighted average common shares outstanding, basic and diluted 8,216,193 8,251,860
Retirement and Employee Benefit Plans	11. Retirement and Employee Benefit Plans The Company also maintains a nonqualified deferred compensation plan for the benefit of certain directors, which is closed to any future deferrals. The expense incurred for the deferred compensation was $0 and $2,000 for the fiscal years ended June 30, 2021 and 2020, respectively, while the liabilities totaled $51,000 and $51,000 at June 30, 2021 and 2020, respectively. The Company maintains an Employee Stock Ownership Plan (“ESOP”) which provides retirement benefits for substantially all full-time employees who have completed one year of service and have attained the age of 21. Annual contributions are made to the ESOP equal to the ESOP’s debt service less dividends received by the ESOP on unallocated shares. Shares in the ESOP were acquired using funds provided by a loan from the Company and, accordingly, the cost of those shares is shown as a reduction of stockholders’ equity. Shares are released to participants proportionately as the loan is repaid. Dividends on allocated shares are recorded as dividends and charged to retained earnings. Dividends on unallocated shares are used to repay loan principal and accrued interest. Compensation expense is recorded equal to the fair value of shares committed to be released during a given fiscal year. Allocation of shares to the ESOP participants is contingent upon the repayment of a loan to Kentucky First Federal Bancorp totaling $277,000 and $528,000 at June 30, 2021 and 2020, respectively. The Company recorded expense for the ESOP of approximately $122,000 and $135,000 for the years ended June 30, 2021 and 2020, respectively. Shares may be surrendered from the plan as employees leave employment. Total shares surrendered from the plan totaled 217,706 and 194,445 at June 30, 2021 and 2020, respectively. The amounts contributed to the ESOP were $280,000 for each of the years 2021 and 2020. For the fiscal year ended June 30, 2021 2020 Allocated shares 99,668 104,254 Shares committed to be released 9,338 9,338 Unearned shares 10,261 28,936 Total ESOP shares 119,267 142,528 Fair value of unearned shares at End of period $ 76,000 $ 195,000 The Company maintains a 401(k) plan for the benefit of all full-time employees. No employer contributions have been made to the 401(k) plan.
Earnings Per Share	12. Earnings Per Share For the fiscal year ended June 30, 2021 2020 Net income (loss) allocated to common shareholders, basic and diluted $ 1,820,000 $ (12,547,000 ) EARNINGS (LOSS) PER SHARE $ 0.22 $ (1.52 ) Weighted average common shares outstanding, basic and diluted 8,216,193 8,251,860 Basic earnings per share is computed based upon the weighted-average shares outstanding during the year (which excludes treasury shares) less average shares in the ESOP that are unallocated and not committed to be released. There were no options outstanding for fiscal years 2021 and 2020.
Fair Value of Assets and Liabilities	13. Fair Value of Assets and Liabilities Level 1 Level 2 Level 3 Following is a description of the valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying balance sheet, as well as the general classification of such instruments pursuant to the valuation hierarchy. Securities Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The following table presents the fair value measurements of assets and liabilities measured at fair value on a recurring basis at June 30, 2021 and 2020. The securities represented are only those classified as available-for sale. Fair Value Measurements Using Quotes Prices Identical Significant Other Significant (in thousands) Fair Value (Level 1) (Level 2) (Level 3) 2021 Agency mortgage-backed: residential $ 33 $ -- $ 33 $ -- 2020 Agency bonds $ 503 $ -- $ 503 $ -- Agency mortgage-backed: residential $ 38 $ -- $ 38 $ -- There were no transfers between levels 1 and 2. Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying consolidated balance sheet, as well as the general classification of such assets pursuant to the valuation hierarchy. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. Impaired Loans The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent independent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value and totaled $0 and $0 for the years ended June 30, 2021 and 2020, respectively. Independent appraisals for collateral-dependent loans are updated periodically (usually every 12-24 months depending on the size of the loan and the loan-to-value ratio). Real Estate Owned Real estate properties acquired through or instead of loan foreclosure are initially recorded as real estate owned (“REO”) at fair value, less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals which are updated no less frequently than annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach with data from comparable properties. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments were $19,000 and $36,000 for the fiscal years 2021 and 2020, respectively, and resulted in a Level 3 classification of the inputs for determining fair value. One single-family residential property, which was held as OREO and was written down by $19,000 during the year ended June 30, 2021, was sold during the period. There was no OREO measured at fair value less costs to sell at June 30, 2021. The following table presents the fair value measurements of assets and liabilities measured at fair value on a nonrecurring basis at June 30, 2020. Fair Value Measurements Using (in thousands) Fair Value Quotes Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) 2020 Other real estate owned, net One- to four-family $ 465 $ - $ - $ 465 The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2020: June 30, 2020 Fair Value Valuation Unobservable Range (Weighted Foreclosed and repossessed assets: 1-4 family $ 465 Sales comparison approach Adjustments for differences between comparable sales -2.7% to 41.2% The following disclosure of the fair value of financial instruments, both assets and liabilities, whether or not recognized in the consolidated balance sheet, is based on the assumptions presented for each particular item and for which it is practicable to estimate that value. For financial instruments where quoted market prices are not available, fair values are based on estimates using present value and other valuation methods. The methods used are greatly affected by the assumptions applied, including the discount rate and estimates of future cash flows. Therefore, the fair values presented may not represent amounts that could be realized in an exchange for certain financial instruments. The Company’s financial instruments at June 30, 2021 and 2020 are as follows: Fair Value Measurements at Carrying June 30, 2021 Using (in thousands) Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 21,648 $ 21,648 $ 21,648 Time deposits in other financial institutions 247 248 248 Available-for-sale securities 33 $ 33 33 Held-to-maturity securities 462 476 476 Loans held for sale 1,307 1,336 1,336 Loans receivable - net 297,902 $ 306,346 306,346 Federal Home Loan Bank stock 6,498 n/a Accrued interest receivable 694 694 694 Financial liabilities Deposits $ 226,843 $ 101,951 $ 125,232 $ 227,183 Federal Home Loan Bank advances 56,873 57,314 57,314 Advances by borrowers for taxes and insurance 838 838 838 Accrued interest payable 20 20 20 Carrying Fair Value Measurements at (in thousands) Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 13,702 $ 13,702 $ 13,702 Time deposits in other financial institutions 2,229 2,252 2,252 Available-for-sale securities 541 $ 541 541 Held-to-maturity securities 598 611 611 Loans held for sale 667 685 685 Loans receivable - net 285,887 $ 295,431 295,431 Federal Home Loan Bank stock 6,498 n/a Accrued interest receivable 830 830 830 Financial liabilities Deposits $ 212,273 $ 78,118 $ 135,000 $ 213,118 Federal Home Loan Bank advances 54,715 55,416 55,416 Advances by borrowers for taxes and insurance 800 800 800 Accrued interest payable 27 27 27
Cash and Cash Equivalents	14. Cash and Cash Equivalents
Goodwill	15. Goodwill Intangibles-Goodwill and Other (Topic 350) Simplifying the Test for Goodwill Impairment,
Cash Surrender Value of Life Insurance	16. Cash Surrender Value of Life Insurance
Treasury Stock	17. Treasury Stock
Related Party Transactions	18. Related Party Transactions (in thousands) 2021 2020 Outstanding principal, beginning of year $ 1,047 $ 1,246 Changes in composition of related parties 936 (129 ) Principal disbursed during the year -- -- Principal repaid and refinanced during the year (578 ) (70 ) Outstanding principal, end of year $ 1,405 $ 1,047 Deposits from related parties held by the Company at June 30, 2021 and 2020 totaled $4.3 million and $3.3 million, respectively. In management’s opinion, such loans and other extensions of credit and deposits were made in the ordinary course of business and were made on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with other persons. Further, in management’s opinion, these loans did not involve more than normal risk of collectability or present other unfavorable features.
Comprehensive Income and Accumulated Comprehensive Income	19. Comprehensive Income and Accumulated Comprehensive Income
Revenue Recognition	20. Revenue Recognition
Loss Contingencies	21. Loss Contingencies
Loan Commitments and Related Financial Instruments	22. Loan Commitments and Related Financial Instruments
Dividend Restriction	23. Dividend Restriction
Operating Segments	24. Operating Segments
Reclassifications	25. Reclassifications
New Accounting Standards	26. New Accounting Standards FASB ASC 326 - FASB ASC 820 – Fair Value Measurement (Topic 820) Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. FASB ASC 740– Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Schedule of contributed to the ESOP	For the fiscal year ended June 30, 2021 2020 Allocated shares 99,668 104,254 Shares committed to be released 9,338 9,338 Unearned shares 10,261 28,936 Total ESOP shares 119,267 142,528 Fair value of unearned shares at End of period $ 76,000 $ 195,000
Schedule of earnings per share	For the fiscal year ended June 30, 2021 2020 Net income (loss) allocated to common shareholders, basic and diluted $ 1,820,000 $ (12,547,000 ) EARNINGS (LOSS) PER SHARE $ 0.22 $ (1.52 ) Weighted average common shares outstanding, basic and diluted 8,216,193 8,251,860
Schedule of fair value measurements of assets and liabilities measured at fair value on a recurring basis	Fair Value Measurements Using Quotes Prices Identical Significant Other Significant (in thousands) Fair Value (Level 1) (Level 2) (Level 3) 2021 Agency mortgage-backed: residential $ 33 $ -- $ 33 $ -- 2020 Agency bonds $ 503 $ -- $ 503 $ -- Agency mortgage-backed: residential $ 38 $ -- $ 38 $ --
Schedule of fair value measurements of assets and liabilities measured at fair value on a nonrecurring basis	Fair Value Measurements Using (in thousands) Fair Value Quotes Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) 2020 Other real estate owned, net One- to four-family $ 465 $ - $ - $ 465
Schedule of assets measured at fair value on a non-recurring basis	June 30, 2020 Fair Value Valuation Unobservable Range (Weighted Foreclosed and repossessed assets: 1-4 family $ 465 Sales comparison approach Adjustments for differences between comparable sales -2.7% to 41.2%
Schedule of financial instruments	Fair Value Measurements at Carrying June 30, 2021 Using (in thousands) Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 21,648 $ 21,648 $ 21,648 Time deposits in other financial institutions 247 248 248 Available-for-sale securities 33 $ 33 33 Held-to-maturity securities 462 476 476 Loans held for sale 1,307 1,336 1,336 Loans receivable - net 297,902 $ 306,346 306,346 Federal Home Loan Bank stock 6,498 n/a Accrued interest receivable 694 694 694 Financial liabilities Deposits $ 226,843 $ 101,951 $ 125,232 $ 227,183 Federal Home Loan Bank advances 56,873 57,314 57,314 Advances by borrowers for taxes and insurance 838 838 838 Accrued interest payable 20 20 20 Carrying Fair Value Measurements at (in thousands) Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 13,702 $ 13,702 $ 13,702 Time deposits in other financial institutions 2,229 2,252 2,252 Available-for-sale securities 541 $ 541 541 Held-to-maturity securities 598 611 611 Loans held for sale 667 685 685 Loans receivable - net 285,887 $ 295,431 295,431 Federal Home Loan Bank stock 6,498 n/a Accrued interest receivable 830 830 830 Financial liabilities Deposits $ 212,273 $ 78,118 $ 135,000 $ 213,118 Federal Home Loan Bank advances 54,715 55,416 55,416 Advances by borrowers for taxes and insurance 800 800 800 Accrued interest payable 27 27 27
Schedule of loans outstanding	(in thousands) 2021 2020 Outstanding principal, beginning of year $ 1,047 $ 1,246 Changes in composition of related parties 936 (129 ) Principal disbursed during the year -- -- Principal repaid and refinanced during the year (578 ) (70 ) Outstanding principal, end of year $ 1,405 $ 1,047

Securities (Tables)

Securities (Tables)	12 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of gross unrealized or unrecognized gains and losses	2021 (in thousands) Amortized cost Gross unrealized/ Gross unrealized/ Estimated Available-for-sale Securities Agency mortgage-backed residential $ 33 $ - $ - $ 33 Held-to-maturity Securities Agency mortgage-backed: residential $ 462 $ 16 $ 2 $ 476 2020 (in thousands) Amortized Gross unrealized/ unrecognized gains Gross unrealized/ Estimated Available-for-sale Securities Agency bonds $ 500 $ 3 $ - $ 503 Agency mortgage-backed: residential 38 - - 38 $ 538 $ 3 $ - $ 541 Held-to-maturity Securities Agency mortgage-backed: residential $ 598 $ 16 $ 3 $ 611

Loans (Tables)

Loans (Tables)	12 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Schedule of loan portfolio	(in thousands) 2021 2020 Residential real estate One- to four-family $ 224,125 $ 222,489 Multi-family 19,781 12,373 Construction 5,433 4,045 Land 1,308 765 Farm 2,234 2,354 Nonresidential real estate 35,492 33,503 Commercial and industrial 2,259 2,214 Consumer and other Loans on deposits 1,129 1,245 Home equity 7,135 7,645 Automobile 75 67 Unsecured 553 675 299,524 287,375 Allowance for loan losses (1,622 ) (1,488 ) $ 297,902 $ 285,887
Schedule of allowance for loan losses and the investment in loans by portfolio	June 30, 2021: (in thousands) Loans Loans acquired with Ending loans Ending allowance Loans individually evaluated for impairment: Residential real estate: One- to four-family $ 3,738 $ 595 $ 4,333 $ -- Multi-family 646 -- 646 -- Farm 274 -- 274 -- Nonresidential real estate 1,367 -- 1,367 -- Consumer and other: Unsecured 16 -- 16 -- 6,041 595 6,636 -- Loans collectively evaluated for impairment: Residential real estate: One- to four-family $ 219,792 $ 794 Multi-family 19,135 291 Construction 5,433 12 Land 1,308 3 Farm 1,960 5 Nonresidential real estate 34,125 494 Commercial and industrial 2,259 5 Consumer and other: Loans on deposits 1,129 2 Home equity 7,135 15 Automobile 75 -- Unsecured 537 1 292,888 1,622 $ 299,524 $ 1,622 * These loans were evaluated at acquisition date at their estimated fair value and there has been no subsequent deterioration since acquisition. June 30, 2020: (in thousands) Loans Loans acquired with Ending loans Ending allowance Unallocated Total Loans individually evaluated for impairment: Residential real estate: One- to four-family $ 3,983 $ 751 $ 4,734 $ -- $ -- $ -- Multi-family 671 -- 671 -- -- -- Construction 63 -- 63 -- -- -- Farm 309 -- 309 -- -- -- Nonresidential real estate 660 -- 660 -- -- -- 5,686 751 6,437 -- -- -- Loans collectively evaluated for impairment: Residential real estate: One- to four-family $ 217,755 $ 671 $ -- $ 671 Multi-family 11,702 184 -- 184 Construction 3,982 6 -- 6 Land 765 1 -- 1 Farm 2,045 4 -- 4 Nonresidential real estate 32,843 405 -- 405 Commercial and industrial 2,214 3 -- 3 Consumer and other Loans on deposits 1,245 2 -- 2 Home equity 7,645 11 -- 11 Automobile 67 -- -- -- Unsecured 675 1 -- 1 Unallocated -- -- 200 200 280,938 1,288 200 1,488 $ 287,375 $ 1,288 $ 200 $ 1,488
Schedule of impaired loans by class of loans	(in thousands) Unpaid Allowance Average Interest Cash Basis Income Recognized With no related allowance recorded: Residential real estate: One- to four-family $ 4,333 $ -- $ 4,534 $ 107 $ 107 Multi-family 646 -- 659 24 24 Construction -- -- 32 -- -- Farm 274 -- 292 35 35 Nonresidential real estate 1,367 -- 1,014 60 60 Consumer and other: Unsecured 16 -- 8 1 1 Total $ 6,636 $ -- $ 6,537 $ 227 $ 227 June 30, 2020: (in thousands) Unpaid Allowance Average Interest Cash Basis Recognized With no related allowance recorded: Residential real estate: One- to four-family $ 4,734 $ -- $ 4,713 $ 172 $ 172 Multi-family 671 -- 679 32 32 Construction 63 -- 13 -- -- Farm 309 -- 309 11 11 Nonresidential real estate 660 -- 701 47 47 Total $ 6,437 $ -- $ 6,415 $ 262 $ 262
Schedule of principal balance outstanding in past due loans	June 30, 2021 June 30, 2020 (in thousands) Nonaccrual Loans Past Nonaccrual Loans Past Residential real estate: One- to four-family $ 4,104 $ 243 $ 4,458 $ 1,135 Multi-family 646 -- 671 -- Construction -- -- 63 -- Farm 274 -- 309 -- Nonresidential real estate 1,367 -- 660 -- Commercial and industrial -- -- 4 -- Consumer 21 -- 95 -- $ 6,412 $ 243 $ 6,260 $ 1,135
Schedule of principal balance outstanding in past due loans	(in thousands) 30-89 Days Greater than 90 Days Total Loans Not Total Residential real estate: One-to four-family $ 2,392 $ 1,338 $ 3,730 $ 220,395 $ 224,125 Multi-family -- -- -- 19,781 19,781 Construction 80 -- 80 5,353 5,433 Land -- -- -- 1,308 1,308 Farm 101 -- 101 2,133 2,234 Nonresidential real estate -- 241 241 35,251 35,492 Commercial and industrial 6 -- 6 2,253 2,259 Consumer and other: Loans on deposits -- -- -- 1,129 1,129 Home equity 116 -- 116 7,019 7,135 Automobile -- -- -- 75 75 Unsecured 4 -- 4 549 553 Total $ 2,699 $ 1,579 $ 4,278 $ 295,246 $ 299,524 (in thousands) 30-89 Days Greater than 90 Days Total Loans Not Total Residential real estate: One-to four-family $ 2,546 $ 2,670 $ 5,216 $ 217,273 $ 222,489 Multi-family -- -- -- 12,373 12,373 Construction 192 63 255 3,790 4,045 Land -- -- -- 765 765 Farm 107 309 416 1,938 2,354 Nonresidential real estate 57 253 310 33,193 33,503 Commercial and industrial -- -- -- 2,214 2,214 Consumer and other: Loans on deposits -- -- -- 1,245 1,245 Home equity 255 90 345 7,300 7,645 Automobile -- -- -- 67 67 Unsecured -- -- -- 675 675 Total $ 3,157 $ 3,385 $ 6,542 $ 280,833 $ 287,375
Schedule of analysis performed, the risk category of loans by class of loans	(in thousands) Pass Special Mention Substandard Doubtful Residential real estate: One- to four-family $ 217,485 $ 596 $ 6,044 $ -- Multi-family 19,135 -- 646 -- Construction 5,433 -- -- -- Land 1,308 -- -- -- Farm 1,960 -- 274 -- Nonresidential real estate 32,748 924 1,820 -- Commercial and industrial 2,259 -- -- -- Consumer and other: Loans on deposits 1,129 -- -- -- Home equity 7,044 39 52 -- Automobile 75 -- -- -- Unsecured 546 -- 7 -- Total $ 289,122 $ 1,559 $ 8,843 $ -- (in thousands) Pass Special Mention Substandard Doubtful Residential real estate: One- to four-family $ 215,010 $ 742 $ 6,737 $ -- Multi-family 11,702 -- 671 -- Construction 3,982 -- 63 -- Land 765 -- -- -- Farm 2,045 -- 309 -- Nonresidential real estate 31,529 939 1,035 -- Commercial and industrial 2,188 -- 26 -- Consumer and other: Loans on deposits 1,245 -- -- -- Home equity 7,505 39 101 -- Automobile 67 -- -- -- Unsecured 670 -- 5 -- Total $ 276,708 $ 1,720 $ 8,947 $ --
Schedule of allowance for loan losses by portfolio segment	(in thousands) Beginning balance Provision for loan losses Loans charged off Recoveries Ending balance Residential real estate: One- to four-family $ 671 $ 146 $ (23 ) $ -- $ 794 Multi-family 184 107 -- -- 291 Construction 6 6 -- -- 12 Land 1 2 -- -- 3 Farm 4 1 -- -- 5 Nonresidential real estate 405 89 -- -- 494 Commercial and industrial 3 2 -- -- 5 Consumer and other: Loans on deposits 2 -- -- -- 2 Home equity 11 42 (45 ) 7 15 Auto -- -- -- -- -- Unsecured 1 (3 ) -- 3 1 Unallocated 200 (200 ) -- -- -- Totals $ 1,488 $ 192 $ (68 ) $ 10 $ 1,622 (in thousands) Beginning balance Provision for loan losses Loans charged off Recoveries Ending balance Residential real estate: One- to four-family $ 685 $ 49 $ (65 ) $ 2 $ 671 Multi-family 200 (16 ) -- -- 184 Construction 6 -- -- -- 6 Land 1 -- -- -- 1 Farm 6 (2 ) -- -- 4 Nonresidential real estate 336 69 -- -- 405 Commercial and industrial 5 (2 ) -- -- 3 Consumer and other: Loans on deposits 3 (1 ) -- -- 2 Home equity 14 (3 ) -- -- 11 Auto -- 8 (8 ) -- -- Unsecured -- 1 -- -- 1 Unallocated 200 -- -- -- 200 Totals $ 1,456 $ 103 $ (73 ) $ 2 $ 1,488
Schedule of purchased credit impaired loans	(in thousands) 2021 2020 Residential real estate: One- to four-family $ 595 $ 751
Schedule of accretable yield, or income expected to be collected	(in thousands) 2021 2020 Balance at beginning of year $ 447 $ 544 Accretion of income (57 ) (97 ) Balance at end of year $ 390 $ 447

Real Estate Owned (Tables)

Real Estate Owned (Tables)	12 Months Ended
	Jun. 30, 2021
Real Estate Abstract
Schedule of activity in real estate owned	(in thousands) 2021 2020 Balance at beginning of year $ 640 $ 710 Loans transferred to real estate owned 358 304 Capitalized expenditures 1 44 Valuation adjustments (19 ) (36 ) Disposals (898 ) (382 ) Balance at end of year $ 82 $ 640

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of premises and equipment	(in thousands) 2021 2020 Land $ 1,516 $ 1,516 Buildings and improvements 6,536 6,493 Furniture and equipment 2,172 2,204 Automobiles -- 36 10,224 10,249 Less: accumulated depreciation 5,527 5,333 Balance at end of year $ 4,697 $ 4,916

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Jun. 30, 2021
Statistical Disclosure for Banks [Abstract]
Schedule of deposits consist of the following major classifications	(in thousands) 2021 2020 Non-interest bearing checking accounts $ 13,090 $ 8,258 Checking accounts 21,352 15,133 Savings accounts 56,576 45,571 Money market demand deposits 10,933 9,156 Total demand, transaction and passbook deposits 101,951 78,118 Certificates of deposit 124,892 134,155 Total deposits $ 226,843 $ 212,273
Schedule of maturities of outstanding certificates of deposit	(in thousands) 2021 2022 $ 85,217 2023 27,703 2024 8,169 2025 2,002 2026 and thereafter 1,801 $ 124,892

Advances from the Federal Hom_2

Advances from the Federal Home Loan Bank (Tables)	12 Months Ended
	Jun. 30, 2021
Federal Home Loan Banks [Abstract]
Schedule of advances from the federal home loan bank	Maturing year ending June 30 (in thousands) 2022 $ 23,807 2023 25,679 2024 3,659 2025 3,643 2026 31 2027 22 2028 16 2029-2032 16 $ 56,873

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of federal income taxes on earnings differs from that computed at the statutory corporate tax rate	(in thousands) 2021 2020 Income taxes at the statutory rate $ 456 $ (2,579 ) Increase (decrease) resulting primarily from: Cash surrender value of life insurance (19 ) (16 ) State income taxes (83 ) -- Deferred tax liability adjustment, net, resulting from Kentucky tax legislation -- 14 Goodwill impairment -- 2,848 Other (2 ) (3 ) $ 352 $ 264
Schedule of composition of the Company’s net deferred tax liability	(in thousands) 2021 2020 Taxes (payable) refundable on temporary differences at estimated corporate tax rate: Deferred tax assets: General loan loss allowance $ 405 $ 371 Accrued expenses 102 164 Fair value accounting adjustments on acquisition 199 199 Nonaccrued interest on loans 109 118 Other real estate owned adjustments 3 17 Depreciation 42 37 Charitable contributions -- 12 State net operating loss carryforward 227 -- Total deferred tax assets 1,087 918 Deferred tax liabilities: Federal Home Loan Bank stock dividends (981 ) (981 ) Deferred loan origination costs (30 ) (33 ) Loan servicing rights (37 ) (24 ) Accrual to cash adjustment (106 ) (170 ) Fair value accounting adjustments on acquisition (547 ) (547 ) Total deferred tax liabilities (1,701 ) (1,755 ) Net deferred tax liability $ (614 ) $ (837 )

Loan Commitments (Tables)

Loan Commitments (Tables)	12 Months Ended
	Jun. 30, 2021
Loan Commitments [Abstract]
Schedule of outstanding loan commitments	2021 2020 (in thousands) Fixed Variable Fixed Variable Unused commitment: Revolving, open-end lines secured by real estate $ -- $ 11,835 $ -- $ 10,354 Commitments to fund real estate construction loans 519 4,125 854 8,443 Other unused commitment: Commercial and industrial loans 1,364 -- 2,541 -- Other 886 4,207 1,576 2,454 Letters of credit -- -- -- --

Stockholders' Equity and Regu_2

Stockholders' Equity and Regulatory Capital (Tables)	12 Months Ended
	Jun. 30, 2021
Stockholders’ Equity and Regulatory Capital [Abstract]
Schedule of regulatory capital	Actual Minimum Requirement For (Dollars in thousands) Amount Ratio Amount Ratio Risk-based capital: Common Equity Tier 1 capital ratio $ 51,349 27.5 % $ 8,408 4.5 % Tier 1 (core) capital ratio $ 51,349 27.5 $ 11,211 6.0 Total capital ratio $ 51,349 27.5 $ 14,947 8.0 Leverage capital: Tier 1 leverage capital to average assets $ 51,349 15.4 $ 13,378 4.0 Actual Minimum Requirement For (Dollars in thousands) Amount Ratio Amount Ratio Risk-based capital: Common Equity Tier 1 capital ratio $ 50,962 26.1 % $ 8,305 4.5 % Tier 1 (core) capital ratio $ 50,962 26.1 $ 11,073 6.0 Total capital ratio $ 50,962 26.1 $ 14,764 8.0 Leverage capital: Tier 1 leverage capital to average assets $ 50,962 15.7 $ 13,220 4.0
Schedule of banks’ regulatory capital	Actual Minimum Requirement For (Dollars in thousands) Amount Ratio Amount Ratio Community Bank Leverage Ratio: First Federal Savings and Loan Association of Hazard $ 18,376 20.9 % $ 7,021 8.0 % First Federal Savings Bank of Kentucky $ 30,276 12.3 $ 19,734 8.0 Actual Minimum Requirement For (Dollars in thousands) Amount Ratio Amount Ratio Community Bank Leverage Ratio: First Federal Savings and Loan Association of Hazard $ 18,256 21.9 % $ 3,740 8.0 % First Federal Savings Bank of Kentucky $ 29,898 12.1 $ 15,153 8.0

Condensed Financial Statement_2

Condensed Financial Statements of Kentucky First Federal Bancorp (Tables)	12 Months Ended
	Jun. 30, 2021
Condensed Financial Information Disclosure [Abstract]
Schedule of balance sheets	2021 2020 ASSETS Interest-bearing deposits in First Federal of Hazard $ 933 $ 1,282 Interest-bearing deposits in First Federal of Kentucky 1,070 167 Other interest-bearing deposits 9 34 Investment in First Federal of Hazard 18,407 18,314 Investment in Frankfort First 31,646 31,257 Prepaid expenses and other assets 458 883 Total assets $ 52,523 $ 51,937 LIABILITIES AND SHAREHOLDERS’ EQUITY Accounts payable and other liabilities $ 227 $ 26 Total liabilities 227 26 Shareholders’ equity 52,296 51,911 Total liabilities and shareholders’ equity $ 52,523 $ 51,937
Schedule of statements of income	2021 2020 Income Interest income $ 27 $ 42 Non-interest income 15 -- Dividends from First Federal of Hazard 590 607 Equity in undistributed (excess distributed) earnings of First Federal of Hazard 101 (47 ) Dividends from Frankfort First 826 576 Equity in undistributed (excess distributed) earnings of Frankfort First 434 (13,459 ) Total income 1,993 (12,281 ) Non-interest expenses 330 325 Earnings (loss) before income taxes 1,663 (12,606 ) Income tax expense (benefit) (157 ) (59 ) Net income (loss) 1,820 (12,547 ) Other comprehensive (loss) income, net of tax-related effects: Unrealized holding losses on securities designated as available for sale during the year, net of taxes (benefits) of $(1) and $(1) in 2021 and 2020, respectively (2 ) (2 ) Comprehensive income (loss) $ 1,818 $ (12,549 )
Schedule of statements of cash flows	2021 2020 Cash flows from operating activities: Net (loss) earnings for the year $ 1,820 $ (12,547 ) Adjustments to reconcile net earnings to net cash provided by operating activities: Excess (deficit) distributions over earnings (undistributed earnings) from consolidated subsidiaries (535 ) 13,509 Noncash compensation expense 122 112 Gain on sale of automobile 16 -- Depreciation 11 12 Increase (decrease) in cash due to changes in: Prepaid expenses and other assets 449 68 Other liabilities 201 4 Net cash provided by operating activities 2,084 1,158 Cash flows from investing activities: Additions to premises and equipment, net -- -- Net cash used in investing activities -- -- Cash flows from financing activities: Treasury stock purchases (167 ) (542 ) Dividends paid on common stock (1,388 ) (1,388 ) Net cash used in financing activities (1,555 ) (1,930 ) Net increase (decrease) in cash and cash equivalents 529 (772 ) Cash and cash equivalents at beginning of year 1,483 2,255 Cash and cash equivalents at end of year $ 2,012 $ 1,483

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2005
Summary of Significant Accounting Policies (Details) [Line Items]
Loan held for sale	$ 1,300,000	$ 667,000
Fair value	28,000	20,000
Servicing mortgage loans	18,300,000	12,100,000
Servicing fees	$ 14,000	7,000
Description of mortage loans	We offer a mix of adjustable-rate and fixed-rate mortgage loans with terms up to 30 years for owner-occupied properties. For these properties a borrower may be able to borrow up to 95% of the value with private mortgage insurance. Alternatively, the borrower may be able to borrow up to 90% of the value through other programs offered by the bank.
Appraised value, percentage	80.00%
Nonresidential loan, percentage	80.00%
Consumer leading, description	Home equity loans are generally second mortgage loans subordinate only to first mortgages also held by the bank and do not exceed 80% of the estimated value of the property. We do offer home equity loans up to 90% of the estimated value to qualified borrowers and these loans carry a premium interest rate. Loans secured by savings are originated up to 90% of the depositor’s savings account balance and bear interest at a rate higher than the rate paid on the deposit account.
Fixed assets held for sale	$ 161,000
Tax benefit, percentage	50.00%
Retirement and employee benefit plans, description	The Pentegra DB Plan is a single plan under Internal Revenue Code Section 413(c) and, as a result, all of the assets stand behind all of the liabilities. Accordingly, under the Pentegra DB Plan contributions made by a participating employer may be used to provide benefits to participants of other participating employers. Total contributions made to the Pentegra DB Plan, as reported on Form 5500, equal $253.2 million and $138.3 million for the plan years ended June 30, 2020 and 2019, respectively. Our contributions for fiscal 2021 and 2020 were not more than 5% of the total contributions made to the Pentegra DB Plan. Pension expense is the net contributions, which are based upon covered employees’ age and salaries and are dependent upon the ultimate prescribed benefits of the participants and the funded status of the plan. The Company recognized expense related to the plans totaling approximately $955,000 and $935,000 for the fiscal years ended June 30, 2021 and 2020, respectively. There are no collective bargaining agreements in place that require contributions to the Pentegra DB Plan. As of July 1, 2020, the most recent period for which information is available, the Banks had an adjusted funding target attainment percentage (“AFTAP”) of 87.27%. There are no funding improvement plans or surcharges to participants. Effective July 1, 2016, sponsorship of the plan was transferred to the Company, benefits ratios were standardized and prospectively each bank will contribute to the plan based generally on its pro rata share of future benefits. Effective April 1, 2019, the Company elected to freeze benefits to its employee participants.
Deferred compensation	$ 0	2,000
Deferred compensation liabilities	51,000	51,000
Repayment of loan	277,000	528,000
Employee stock ownership plan expense	$ 122,000	$ 135,000
Total shares surrendered plan (in Shares)	217,706	194,445
Employee stock ownership plan	$ 280,000	$ 2,021
Fair value totaled	0	0
Real estate ownership amount	19,000	36,000
OREO written down value	19,000
Goodwill amount			$ 14,500,000
Goodwill impairment charges		13,600,000
Carrying value of goodwill	947,000
Deposits from related parties	$ 4,300,000	3,300,000
Operating segment	1
Mortgage Servicing Rights [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Fair value	$ 147,000	$ 96,000
Loans One To Four Family [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Rental properties, percentage	80.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of contributed to the ESOP - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Schedule of contributed to the ESOP [Abstract]
Allocated shares	99,668	104,254
Shares committed to be released	9,338	9,338
Unearned shares	10,261	28,936
Total ESOP shares	119,267	142,528
Fair value of unearned shares at End of period (in Dollars)	$ 76,000	$ 195,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of earnings per share - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Schedule of earnings per share [Abstract]
Net income (loss) allocated to common shareholders, basic and diluted	$ 1,820,000	$ (12,547,000)
EARNINGS (LOSS) PER SHARE	$ 0.22	$ (1.52)
Weighted average common shares outstanding, basic and diluted	8,216,193	8,251,860

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of fair value measurements of assets and liabilities measured at fair value on a recurring basis - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Agency mortgage-backed: residential [Member]
Fair Value	$ 33	$ 38
Agency Bonds [Member]
Fair Value		503
Quotes Prices in Active Markets for Identical Assets (Level 1) [Member] | Agency mortgage-backed: residential [Member]
Fair Value
Quotes Prices in Active Markets for Identical Assets (Level 1) [Member] | Agency Bonds [Member]
Fair Value
Significant Other Observable Inputs (Level 2) [Member] | Agency mortgage-backed: residential [Member]
Fair Value	33	38
Significant Other Observable Inputs (Level 2) [Member] | Agency Bonds [Member]
Fair Value		503
Significant Unobservable Inputs (Level 3) [Member] | Agency mortgage-backed: residential [Member]
Fair Value
Significant Unobservable Inputs (Level 3) [Member] | Agency Bonds [Member]
Fair Value

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details) - Schedule of fair value measurements of assets and liabilities measured at fair value on a nonrecurring basis - Other real estate owned, net One- to four-family [Member] $ in Thousands	Jun. 30, 2020USD ($)
Fair Value	$ 465
Quotes Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value
Significant Other Observable Inputs (Level 2) [Member]
Fair Value
Significant Unobservable Inputs (Level 3) [Member]
Fair Value	$ 465

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details) - Schedule of fair value measurements for financial instruments - 1-4 family [Member] - Foreclosed and repossessed assets [Member] $ in Thousands	12 Months Ended
	Jun. 30, 2020USD ($)
Fair Value	$ 465
Valuation Technique(s)	Sales comparison approach
Unobservable Input(s)	Adjustments for differences between comparable sales
Range (Weighted Average)	-2.7% to 41.2% (20.4%)

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Details) - Schedule of financial instruments - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Financial assets
Cash and cash equivalents	$ 21,648	$ 13,702	$ 9,861
Time deposits in other financial institutions	248	2,252
Available-for-sale securities	33	541
Held-to-maturity securities	476	611
Loans held for sale	1,336	685
Loans receivable - net	306,346	295,431
Federal Home Loan Bank stock
Accrued interest receivable	694	830
Financial liabilities
Deposits	227,183	213,118
Federal Home Loan Bank advances	57,314	55,416
Advances by borrowers for taxes and insurance	838	800
Accrued interest payable	20	27
Carrying value [Member]
Financial assets
Cash and cash equivalents	21,648	13,702
Time deposits in other financial institutions	247	2,229
Available-for-sale securities	33	541
Held-to-maturity securities	462	598
Loans held for sale	1,307	667
Loans receivable - net	297,902	285,887
Federal Home Loan Bank stock	6,498	6,498
Accrued interest receivable	694	830
Financial liabilities
Deposits	226,843	212,273
Federal Home Loan Bank advances	56,873	54,715
Advances by borrowers for taxes and insurance	838	800
Accrued interest payable	20	27
Level 1 [Member]
Financial assets
Cash and cash equivalents	21,648	13,702
Time deposits in other financial institutions	248	2,252
Available-for-sale securities
Held-to-maturity securities
Loans held for sale
Loans receivable - net
Federal Home Loan Bank stock
Accrued interest receivable
Financial liabilities
Deposits	101,951	78,118
Federal Home Loan Bank advances
Advances by borrowers for taxes and insurance
Accrued interest payable
Level 2 [Member]
Financial assets
Cash and cash equivalents
Time deposits in other financial institutions
Available-for-sale securities	33	541
Held-to-maturity securities	476	611
Loans held for sale	1,336	685
Loans receivable - net
Federal Home Loan Bank stock
Accrued interest receivable	694	830
Financial liabilities
Deposits	125,232	135,000
Federal Home Loan Bank advances	57,314	55,416
Advances by borrowers for taxes and insurance	838	800
Accrued interest payable	20	27
Level 3 [Member]
Financial assets
Cash and cash equivalents
Time deposits in other financial institutions
Available-for-sale securities
Held-to-maturity securities
Loans held for sale
Loans receivable - net	306,346	295,431
Federal Home Loan Bank stock
Accrued interest receivable
Financial liabilities
Federal Home Loan Bank advances
Advances by borrowers for taxes and insurance
Accrued interest payable

Summary of Significant Accou_10

Summary of Significant Accounting Policies (Details) - Schedule of loans outstanding - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Schedule of loans outstanding [Abstract]
Outstanding principal, beginning of year	$ 1,047	$ 1,246
Changes in composition of related parties	936	(129)
Principal disbursed during the year
Principal repaid and refinanced during the year	(578)	(70)
Outstanding principal, end of year	$ 1,405	$ 1,047

Securities (Details)

Securities (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Held-to-maturity mortgage-backed securities	$ 258,000	$ 67,000
Unrealized gain (loss) on securities	2,000	3,000
Pledged securities	1,800,000	1,900,000
Time deposits	$ 1,500,000	$ 1,500,000

Securities (Details) - Schedule

Securities (Details) - Schedule of gross unrealized or unrecognized gains and losses - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Available-for-sale Securities
Available-for-sale Securities, Amortized cost		$ 538
Available-for-sale Securities, Gross unrealized/ unrecognized gains		3
Available-for-sale Securities, Gross unrealized/ unrecognized losses
Available-for-sale Securities, Estimated fair value	$ 33	541
Agency mortgage-backed: residential [Member]
Available-for-sale Securities
Available-for-sale Securities, Amortized cost	33	38
Available-for-sale Securities, Gross unrealized/ unrecognized gains
Available-for-sale Securities, Gross unrealized/ unrecognized losses
Available-for-sale Securities, Estimated fair value	33	38
Held-to-maturity Securities
Held-to-maturity Securities, Amortized cost	462	598
Held-to-maturity Securities, Gross unrealized/ unrecognized gains	16	16
Held-to-maturity Securities, Gross unrealized/ unrecognized losses	2	3
Held-to-maturity Securities, Estimated fair value	$ 476	611
Agency bonds [Member]
Available-for-sale Securities
Available-for-sale Securities, Amortized cost		500
Available-for-sale Securities, Gross unrealized/ unrecognized gains		3
Available-for-sale Securities, Gross unrealized/ unrecognized losses
Available-for-sale Securities, Estimated fair value		$ 503

Loans (Details)

Loans (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Loans (Details) [Line Items]
Net deferred loan fees		$ 167,000	$ 177,000
Loans acquired credit quality		$ 595,000	$ 751,000
Investment nonaccrual loans past due term days		90 days	90 days
Nonaccrual loan total		$ 6,412,000	$ 6,260,000
Loans borrowing description		the Company had two loans, which were associated with a single borrower and were both secured by a single-family residence, restructured as TDRs. The loans were classified as TDRs pursuant to court action under Chapter 7 bankruptcy proceedings without the borrower reaffirming the debt personally. Those two loans were current and totaled $142,000 at June 30, 2021.
COVID-19 pandemic description	In December 2020, Congress amended the CARES Act through the Consolidated Appropriation Act of 2021, which provided additional COVID-19 relief to American families and businesses, including extending TDR relief under the CARES Act until the earlier of December 31, 2021 or 60 days following the termination of the national emergency. The relief can only be applied to modifications for borrowers that were not more than 30 days past due as of December 31, 2019. The Company elected to adopt these provisions of the CARES Act. In response to the Covid-19 pandemic and the widespread economic downturn that immediately resulted, the Company adopted a loan forbearance plan in which then-current affected borrowers could request deferral of their loan payments for a period of three months. A total of $815,000 in loans were accepted into the plan for the twelve months ended June 30, 2021. At June 30, 2021 all of those loans had reached the end of their three-month deferral date period and returned to regular payment status.
Loan amount past due description		the table below includes $96,000 in loans 30-89 days past due and approximately $25,000 of loans past due over 90 days that were acquired with deteriorated credit quality, while at June 30, 2020, the table below includes $101,000 in loans 30-89 days past due and approximately $28,000 of loans past due over 90 days of such loans.
Purchase credit discount		$ 88,000	$ 351,000
Loans Past Due Over 90 Days [Member]
Loans (Details) [Line Items]
Investment nonaccrual loans past due term days		90 days	90 days
Nonaccrual loan total		$ 365,000	$ 508,000
Troubled Debt Restructuring [Member]
Loans (Details) [Line Items]
Nonaccrual loan total		1,700,000	1,800,000
Loan amount		$ 1,700,000	1,900,000
Troubled debt borrowing description		Of the TDRs at June 30, 2021, approximately 26.8% were related to the borrower’s completion of Chapter 7 bankruptcy proceedings with no reaffirmation of the debt to the Banks.
One- to four-family [Member]
Loans (Details) [Line Items]
loans in process of foreclosure total		$ 577,000	$ 694,000

Loans (Details) - Schedule of l

Loans (Details) - Schedule of loan portfolio - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Residential real estate
One- to four-family	$ 224,125	$ 222,489
Multi-family	19,781	12,373
Construction	5,433	4,045
Land	1,308	765
Farm	2,234	2,354
Nonresidential real estate	35,492	33,503
Commercial and industrial	2,259	2,214
Consumer and other
Loans on deposits	1,129	1,245
Home equity	7,135	7,645
Automobile	75	67
Unsecured	553	675
Loans receivable, gross	299,524	287,375
Allowance for loan losses	(1,622)	(1,488)
Loans receivable - net	$ 297,902	$ 285,887

Loans (Details) - Schedule of a

Loans (Details) - Schedule of allowance for loan losses and the recorded investment in loans by portfolio - USD ($) $ in Thousands		Jun. 30, 2021	Jun. 30, 2020
Residential real estate:
Loans individually evaluated		$ 6,041	$ 5,686
Loans acquired with deteriorated credit quality	[1]	595	751
Ending loans balance		6,636	6,437
Ending allowance attributed to loans
Unallocated allowance
Total allowance
Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance		292,888	280,938
Ending allowance attributed to loans		1,622	1,288
Unallocated allowance			200
Total allowance			1,488
Total [Member]
Residential real estate:
Ending loans balance		299,524	287,375
Ending allowance attributed to loans		1,622	1,288
Unallocated allowance			200
Total allowance			1,488
One- to four-family [Member] | Loans individually evaluated for impairment [Member]
Residential real estate:
Loans individually evaluated		3,738	3,983
Loans acquired with deteriorated credit quality	[1]	595	751
Ending loans balance		4,333	4,734
Ending allowance attributed to loans
Unallocated allowance
Total allowance
One- to four-family [Member] | Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance		219,792	217,755
Ending allowance attributed to loans		794	671
Unallocated allowance
Total allowance			671
Multi-family [Member] | Loans individually evaluated for impairment [Member]
Residential real estate:
Loans individually evaluated		646	671
Loans acquired with deteriorated credit quality	[1]
Ending loans balance		646	671
Ending allowance attributed to loans
Unallocated allowance
Total allowance
Multi-family [Member] | Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance		19,135	11,702
Ending allowance attributed to loans		291	184
Unallocated allowance
Total allowance			184
Farm [Member] | Loans individually evaluated for impairment [Member]
Residential real estate:
Loans individually evaluated		274	309
Loans acquired with deteriorated credit quality	[1]
Ending loans balance		274	309
Ending allowance attributed to loans
Unallocated allowance
Total allowance
Farm [Member] | Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance		1,960	2,045
Ending allowance attributed to loans		5	4
Unallocated allowance
Total allowance			4
Nonresidential real estate [Member] | Loans individually evaluated for impairment [Member]
Residential real estate:
Loans individually evaluated		1,367	660
Loans acquired with deteriorated credit quality	[1]
Ending loans balance		1,367	660
Ending allowance attributed to loans
Unallocated allowance
Total allowance
Nonresidential real estate [Member] | Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance		34,125	32,843
Ending allowance attributed to loans		494	405
Unallocated allowance
Total allowance			405
Unsecured [Member] | Loans individually evaluated for impairment [Member]
Residential real estate:
Loans individually evaluated		16
Loans acquired with deteriorated credit quality	[1]
Ending loans balance		16
Ending allowance attributed to loans
Unsecured [Member] | Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance		537	675
Ending allowance attributed to loans		1	1
Unallocated allowance
Total allowance			1
Construction [Member] | Loans individually evaluated for impairment [Member]
Residential real estate:
Loans individually evaluated			63
Loans acquired with deteriorated credit quality	[1]
Ending loans balance			63
Ending allowance attributed to loans
Unallocated allowance
Total allowance
Construction [Member] | Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance		5,433	3,982
Ending allowance attributed to loans		12	6
Unallocated allowance
Total allowance			6
Land [Member] | Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance		1,308	765
Ending allowance attributed to loans		3	1
Unallocated allowance
Total allowance			1
Commercial and industrial [Member] | Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance		2,259	2,214
Ending allowance attributed to loans		5	3
Unallocated allowance
Total allowance			3
Loans on deposits [Member] | Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance		1,129	1,245
Ending allowance attributed to loans		2	2
Unallocated allowance
Total allowance			2
Home equity [Member] | Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance		7,135	7,645
Ending allowance attributed to loans		15	11
Unallocated allowance
Total allowance			11
Automobile [Member] | Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance		75	67
Ending allowance attributed to loans
Unallocated allowance
Total allowance
Unallocated [Member] | Loans collectively evaluated for impairment [Member]
Residential real estate:
Ending loans balance
Ending allowance attributed to loans
Unallocated allowance			200
Total allowance			$ 200
[1]	These loans were evaluated at acquisition date at their estimated fair value and there has been no subsequent deterioration since acquisition.

Loans (Details) - Schedule of i

Loans (Details) - Schedule of impaired loans by class of loans - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Residential real estate:
Unpaid Principal Balance and Recorded Investment	$ 6,636	$ 6,437
Allowance for Loan Losses Allocated
Average Recorded Investment	6,537	6,415
Interest Income Recognized	227	262
Cash Basis Income Recognized	227	262
One- to four-family [Member]
Residential real estate:
Unpaid Principal Balance and Recorded Investment	4,333	4,734
Allowance for Loan Losses Allocated
Average Recorded Investment	4,534	4,713
Interest Income Recognized	107	172
Cash Basis Income Recognized	107	172
Multi-family [Member]
Residential real estate:
Unpaid Principal Balance and Recorded Investment	646	671
Allowance for Loan Losses Allocated
Average Recorded Investment	659	679
Interest Income Recognized	24	32
Cash Basis Income Recognized	24	32
Construction [Member]
Residential real estate:
Unpaid Principal Balance and Recorded Investment		63
Allowance for Loan Losses Allocated
Average Recorded Investment	32	13
Interest Income Recognized
Cash Basis Income Recognized
Farm [Member]
Residential real estate:
Unpaid Principal Balance and Recorded Investment	274	309
Allowance for Loan Losses Allocated
Average Recorded Investment	292	309
Interest Income Recognized	35	11
Cash Basis Income Recognized	35	11
Nonresidential real estate [Member]
Residential real estate:
Unpaid Principal Balance and Recorded Investment	1,367	660
Allowance for Loan Losses Allocated
Average Recorded Investment	1,014	701
Interest Income Recognized	60	47
Cash Basis Income Recognized	60	$ 47
Unsecured [Member]
Residential real estate:
Unpaid Principal Balance and Recorded Investment	16
Allowance for Loan Losses Allocated
Average Recorded Investment	8
Interest Income Recognized	1
Cash Basis Income Recognized	$ 1

Loans (Details) - Schedule of r

Loans (Details) - Schedule of recorded investment in nonaccrual and loans - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Financing Receivable, Troubled Debt Restructuring [Line Items]
Nonaccrual	$ 6,412	$ 6,260
Loans Past Due Over 90 Days Still Accruing	243	1,135
One- to four-family [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Nonaccrual	4,104	4,458
Loans Past Due Over 90 Days Still Accruing	243	1,135
Multi-family [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Nonaccrual	646	671
Loans Past Due Over 90 Days Still Accruing
Construction [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Nonaccrual		63
Loans Past Due Over 90 Days Still Accruing
Farm [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Nonaccrual	274	309
Loans Past Due Over 90 Days Still Accruing
Nonresidential real estate [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Nonaccrual	1,367	660
Loans Past Due Over 90 Days Still Accruing
Commercial and industrial [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Nonaccrual		4
Loans Past Due Over 90 Days Still Accruing
Consumer [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Nonaccrual	21	95
Loans Past Due Over 90 Days Still Accruing

Loans (Details) - Schedule of p

Loans (Details) - Schedule of principal balance outstanding in past due loans - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Residential real estate:
Total Past Due	$ 4,278	$ 6,542
Loans Not Past Due	295,246	280,833
Total	299,524	287,375
Unsecured [Member]
Residential real estate:
Total Past Due	4
Loans Not Past Due	549	675
Total	553	675
Automobile [Member]
Residential real estate:
Total Past Due
Loans Not Past Due	75	67
Total	75	67
One-to four-family [Member]
Residential real estate:
Total Past Due	3,730	5,216
Loans Not Past Due	220,395	217,273
Total	224,125	222,489
Multi-family [Member]
Residential real estate:
Total Past Due
Loans Not Past Due	19,781	12,373
Total	19,781	12,373
Construction [Member]
Residential real estate:
Total Past Due	80	255
Loans Not Past Due	5,353	3,790
Total	5,433	4,045
Land [Member]
Residential real estate:
Total Past Due
Loans Not Past Due	1,308	765
Total	1,308	765
Farm [Member]
Residential real estate:
Total Past Due	101	416
Loans Not Past Due	2,133	1,938
Total	2,234	2,354
Nonresidential real estate [Member]
Residential real estate:
Total Past Due	241	310
Loans Not Past Due	35,251	33,193
Total	35,492	33,503
Commercial and industrial [Member]
Residential real estate:
Total Past Due	6
Loans Not Past Due	2,253	2,214
Total	2,259	2,214
Loans on deposits [Member]
Residential real estate:
Total Past Due
Loans Not Past Due	1,129	1,245
Total	1,129	1,245
Home equity [Member]
Residential real estate:
Total Past Due	116	345
Loans Not Past Due	7,019	7,300
Total	7,135	7,645
30-89 Days Past Due [Member]
Residential real estate:
Total Past Due	2,699	3,157
30-89 Days Past Due [Member] | Unsecured [Member]
Residential real estate:
Total Past Due	4
30-89 Days Past Due [Member] | Automobile [Member]
Residential real estate:
Total Past Due
30-89 Days Past Due [Member] | One-to four-family [Member]
Residential real estate:
Total Past Due	2,392	2,546
30-89 Days Past Due [Member] | Multi-family [Member]
Residential real estate:
Total Past Due
30-89 Days Past Due [Member] | Construction [Member]
Residential real estate:
Total Past Due	80	192
30-89 Days Past Due [Member] | Land [Member]
Residential real estate:
Total Past Due
30-89 Days Past Due [Member] | Farm [Member]
Residential real estate:
Total Past Due	101	107
30-89 Days Past Due [Member] | Nonresidential real estate [Member]
Residential real estate:
Total Past Due		57
30-89 Days Past Due [Member] | Commercial and industrial [Member]
Residential real estate:
Total Past Due	6
30-89 Days Past Due [Member] | Loans on deposits [Member]
Residential real estate:
Total Past Due
30-89 Days Past Due [Member] | Home equity [Member]
Residential real estate:
Total Past Due	116	255
Greater than 90 Days Past Due [Member]
Residential real estate:
Total Past Due	1,579	3,385
Greater than 90 Days Past Due [Member] | Unsecured [Member]
Residential real estate:
Total Past Due
Greater than 90 Days Past Due [Member] | Automobile [Member]
Residential real estate:
Total Past Due
Greater than 90 Days Past Due [Member] | One-to four-family [Member]
Residential real estate:
Total Past Due	1,338	2,670
Greater than 90 Days Past Due [Member] | Multi-family [Member]
Residential real estate:
Total Past Due
Greater than 90 Days Past Due [Member] | Construction [Member]
Residential real estate:
Total Past Due		63
Greater than 90 Days Past Due [Member] | Land [Member]
Residential real estate:
Total Past Due
Greater than 90 Days Past Due [Member] | Farm [Member]
Residential real estate:
Total Past Due		309
Greater than 90 Days Past Due [Member] | Nonresidential real estate [Member]
Residential real estate:
Total Past Due	241	253
Greater than 90 Days Past Due [Member] | Commercial and industrial [Member]
Residential real estate:
Total Past Due
Greater than 90 Days Past Due [Member] | Loans on deposits [Member]
Residential real estate:
Total Past Due
Greater than 90 Days Past Due [Member] | Home equity [Member]
Residential real estate:
Total Past Due		$ 90

Loans (Details) - Schedule of_2

Loans (Details) - Schedule of analysis performed, the risk category of loans by class of loans - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Pass [Member]
Residential real estate:
Loans receivable, gross	$ 289,122	$ 276,708
Pass [Member] | Farm [Member]
Residential real estate:
Loans receivable, gross	1,960
Pass [Member] | Commercial and industrial [Member]
Residential real estate:
Loans receivable, gross	2,259	2,188
Pass [Member] | Loans on deposits [Member]
Residential real estate:
Loans receivable, gross	1,129	1,245
Pass [Member] | Home equity [Member]
Residential real estate:
Loans receivable, gross	7,044	7,505
Pass [Member] | Automobile [Member]
Residential real estate:
Loans receivable, gross	75	67
Pass [Member] | Unsecured [Member]
Residential real estate:
Loans receivable, gross	546	670
Special Mention [Member]
Residential real estate:
Loans receivable, gross	1,559	1,720
Special Mention [Member] | Farm [Member]
Residential real estate:
Loans receivable, gross
Special Mention [Member] | Commercial and industrial [Member]
Residential real estate:
Loans receivable, gross
Special Mention [Member] | Loans on deposits [Member]
Residential real estate:
Loans receivable, gross
Special Mention [Member] | Home equity [Member]
Residential real estate:
Loans receivable, gross	39	39
Special Mention [Member] | Automobile [Member]
Residential real estate:
Loans receivable, gross
Special Mention [Member] | Unsecured [Member]
Residential real estate:
Loans receivable, gross
Substandard [Member]
Residential real estate:
Loans receivable, gross	8,843	8,947
Substandard [Member] | Farm [Member]
Residential real estate:
Loans receivable, gross	274
Substandard [Member] | Commercial and industrial [Member]
Residential real estate:
Loans receivable, gross		26
Substandard [Member] | Loans on deposits [Member]
Residential real estate:
Loans receivable, gross
Substandard [Member] | Home equity [Member]
Residential real estate:
Loans receivable, gross	52	101
Substandard [Member] | Automobile [Member]
Residential real estate:
Loans receivable, gross
Substandard [Member] | Unsecured [Member]
Residential real estate:
Loans receivable, gross	7	5
Doubtful [Member]
Residential real estate:
Loans receivable, gross
Doubtful [Member] | Farm [Member]
Residential real estate:
Loans receivable, gross
Doubtful [Member] | Commercial and industrial [Member]
Residential real estate:
Loans receivable, gross
Doubtful [Member] | Loans on deposits [Member]
Residential real estate:
Loans receivable, gross
Doubtful [Member] | Home equity [Member]
Residential real estate:
Loans receivable, gross
Doubtful [Member] | Automobile [Member]
Residential real estate:
Loans receivable, gross
Doubtful [Member] | Unsecured [Member]
Residential real estate:
Loans receivable, gross
One- to four-family [Member] | Pass [Member]
Residential real estate:
Loans receivable, gross	217,485	215,010
One- to four-family [Member] | Special Mention [Member]
Residential real estate:
Loans receivable, gross	596	742
One- to four-family [Member] | Substandard [Member]
Residential real estate:
Loans receivable, gross	6,044	6,737
One- to four-family [Member] | Doubtful [Member]
Residential real estate:
Loans receivable, gross
Multi-family [Member] | Pass [Member]
Residential real estate:
Loans receivable, gross	19,135	11,702
Multi-family [Member] | Special Mention [Member]
Residential real estate:
Loans receivable, gross
Multi-family [Member] | Substandard [Member]
Residential real estate:
Loans receivable, gross	646	671
Multi-family [Member] | Doubtful [Member]
Residential real estate:
Loans receivable, gross
Construction [Member] | Pass [Member]
Residential real estate:
Loans receivable, gross	5,433	3,982
Construction [Member] | Special Mention [Member]
Residential real estate:
Loans receivable, gross
Construction [Member] | Substandard [Member]
Residential real estate:
Loans receivable, gross		63
Construction [Member] | Doubtful [Member]
Residential real estate:
Loans receivable, gross
Land [Member] | Pass [Member]
Residential real estate:
Loans receivable, gross	1,308	765
Land [Member] | Special Mention [Member]
Residential real estate:
Loans receivable, gross
Land [Member] | Substandard [Member]
Residential real estate:
Loans receivable, gross
Land [Member] | Doubtful [Member]
Residential real estate:
Loans receivable, gross
Nonresidential real estate [Member] | Pass [Member]
Residential real estate:
Loans receivable, gross	32,748	31,529
Nonresidential real estate [Member] | Special Mention [Member]
Residential real estate:
Loans receivable, gross	924	939
Nonresidential real estate [Member] | Substandard [Member]
Residential real estate:
Loans receivable, gross	1,820	1,035
Nonresidential real estate [Member] | Doubtful [Member]
Residential real estate:
Loans receivable, gross
Farm [Member] | Pass [Member]
Residential real estate:
Loans receivable, gross		2,045
Farm [Member] | Special Mention [Member]
Residential real estate:
Loans receivable, gross
Farm [Member] | Substandard [Member]
Residential real estate:
Loans receivable, gross		309
Farm [Member] | Doubtful [Member]
Residential real estate:
Loans receivable, gross

Loans (Details) - Schedule of_3

Loans (Details) - Schedule of allowance for loan losses by portfolio segment - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
One- to four-family [Member]
Residential real estate:
Beginning balance	$ 671	$ 685
Provision for loan losses	146	49
Loans charged off	(23)	(65)
Recoveries		2
Ending balance	794	671
Multi-family [Member]
Residential real estate:
Beginning balance	184	200
Provision for loan losses	107	(16)
Loans charged off
Recoveries
Ending balance	291	184
Construction [Member]
Residential real estate:
Beginning balance	6	6
Provision for loan losses	6
Loans charged off
Recoveries
Ending balance	12	6
Land [Member]
Residential real estate:
Beginning balance	1	1
Provision for loan losses	2
Loans charged off
Recoveries
Ending balance	3	1
Farm [Member]
Residential real estate:
Beginning balance	4	6
Provision for loan losses	1	(2)
Loans charged off
Recoveries
Ending balance	5	4
Nonresidential real estate [Member]
Residential real estate:
Beginning balance	405	336
Provision for loan losses	89	69
Loans charged off
Recoveries
Ending balance	494	405
Commercial and industrial [Member]
Residential real estate:
Beginning balance	3	5
Provision for loan losses	2	(2)
Loans charged off
Recoveries
Ending balance	5	3
Loans on deposits [Member]
Residential real estate:
Beginning balance	2	3
Provision for loan losses		(1)
Loans charged off
Recoveries
Ending balance	2	2
Home equity [Member]
Residential real estate:
Beginning balance	11	14
Provision for loan losses	42	(3)
Loans charged off	(45)
Recoveries	7
Ending balance	15	11
Auto [Member]
Residential real estate:
Beginning balance
Provision for loan losses		8
Loans charged off		(8)
Recoveries
Ending balance
Unsecured [Member]
Residential real estate:
Beginning balance	1
Provision for loan losses	(3)	1
Loans charged off
Recoveries	3
Ending balance	1	1
Unallocated [Member]
Residential real estate:
Beginning balance	200	200
Provision for loan losses	(200)
Loans charged off
Recoveries
Ending balance		200
Total [Member]
Residential real estate:
Beginning balance	1,488	1,456
Provision for loan losses	192	103
Loans charged off	(68)	(73)
Recoveries	10	2
Ending balance	$ 1,622	$ 1,488

Loans (Details) - Schedule of_4

Loans (Details) - Schedule of purchased credit impaired loans - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
One- to four-family [Member]
Residential real estate:
One- to four-family residential real estate	$ 595	$ 751

Loans (Details) - Schedule of_5

Loans (Details) - Schedule of accretable yield, or income expected to be collected - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Schedule of accretable yield, or income expected to be collected [Abstract]
Balance at beginning of year	$ 447	$ 544
Accretion of income	(57)	(97)
Balance at end of year	$ 390	$ 447

Real Estate Owned (Details) - S

Real Estate Owned (Details) - Schedule of activity in real estate owned - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Schedule of activity in real estate owned [Abstract]
Balance at beginning of year	$ 640	$ 710
Loans transferred to real estate owned	358	304
Capitalized expenditures	1	44
Valuation adjustments	(19)	(36)
Disposals	(898)	(382)
Balance at end of year	$ 82	$ 640

Premises and Equipment (Details

Premises and Equipment (Details) - Schedule of premises and equipment - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Schedule of premises and equipment [Abstract]
Land	$ 1,516	$ 1,516
Buildings and improvements	6,536	6,493
Furniture and equipment	2,172	2,204
Automobiles		36
Property and Equipment	10,224	10,249
Less: accumulated depreciation	5,527	5,333
Balance at end of year	$ 4,697	$ 4,916

Goodwill (Details)

Goodwill (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2005
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill amount			$ 14,500,000
Goodwill net amount	$ 947,000
Goodwill impairment loss	13,600,000	$ 13,600,000
Carrying value of goodwill	$ 13,600,000

Deposits (Details)

Deposits (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Statistical Disclosure for Banks [Abstract]
Deposits	$ 250,000	$ 250,000
Balances of deposit accounts	$ 11,200,000	$ 13,000,000

Deposits (Details) - Schedule o

Deposits (Details) - Schedule of deposits consist of the following major classifications - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Schedule of deposits consist of the following major classifications [Abstract]
Non-interest bearing checking accounts	$ 13,090	$ 8,258
Checking accounts	21,352	15,133
Savings accounts	56,576	45,571
Money market demand deposits	10,933	9,156
Total demand, transaction and passbook deposits	101,951	78,118
Certificates of deposit	124,892	134,155
Total deposits	$ 226,843	$ 212,273

Deposits (Details) - Schedule_2

Deposits (Details) - Schedule of maturities of outstanding certificates of deposit $ in Thousands	Jun. 30, 2021USD ($)
Schedule of maturities of outstanding certificates of deposit [Abstract]
2022	$ 85,217
2023	27,703
2024	8,169
2025	2,002
2026 and thereafter	1,801
Total certificates of deposit	$ 124,892

Advances from the Federal Hom_3

Advances from the Federal Home Loan Bank (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Advances from the Federal Home Loan Bank (Details) [Line Items]
Federal home loan bank, advances, additional borrowing capacity (in Dollars)	$ 76.8
Federal home loan bank, advances, pledged collateral which would enable us to borrow up amount (in Dollars)	4.6
Fed Funds line of credit amount (in Dollars)	2
Residential Mortgage [Member]
Advances from the Federal Home Loan Bank (Details) [Line Items]
Mortgage loan total amount (in Dollars)	$ 172	$ 133.7
Minimum [Member]
Advances from the Federal Home Loan Bank (Details) [Line Items]
Interest rates for advances fixed range	0.20%	0.21%
Maximum [Member]
Advances from the Federal Home Loan Bank (Details) [Line Items]
Interest rates for advances fixed range	2.30%	2.30%
Weighted Average [Member]
Advances from the Federal Home Loan Bank (Details) [Line Items]
Weighted-average interest rate	0.71%	0.99%

Advances from the Federal Hom_4

Advances from the Federal Home Loan Bank (Details) - Schedule of advances from the federal home loan bank $ in Thousands	Jun. 30, 2021USD ($)
Schedule of advances from the federal home loan bank [Abstract]
2022	$ 23,807
2023	25,679
2024	3,659
2025	3,643
2026	31
2027	22
2028	16
2029-2032	16
Advances from the Federal Home Loan Bank	$ 56,873

Income Taxes (Details)

Income Taxes (Details) $ in Millions	12 Months Ended
	Jun. 30, 2021USD ($)
Income Tax Disclosure [Abstract]
Loss carryforward description	The loss carryforward is $5,747 and expires beginning 2023.
Generally limited percentage	8.00%
Retained earnings for which federal income taxes have not been provided	$ 5.2
Amount of unrecognized deferred tax liability relating to the cumulative bad debt deduction	$ 1.3

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of federal income taxes on earnings differs from that computed at the statutory corporate tax rate - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Schedule of federal income taxes on earnings differs from that computed at the statutory corporate tax rate [Abstract]
Income taxes at the statutory rate	$ 456	$ (2,579)
Increase (decrease) resulting primarily from:
Cash surrender value of life insurance	(19)	(16)
State income taxes	(83)
Deferred tax liability adjustment, net, resulting from Kentucky tax legislation		14
Goodwill impairment		2,848
Other	(2)	(3)
Total income taxes	$ 352	$ 264

Income Taxes (Details) - Sche_2

Income Taxes (Details) - Schedule of composition of the Company’s net deferred tax liability - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Deferred tax assets:
General loan loss allowance	$ 405	$ 371
Accrued expenses	102	164
Fair value accounting adjustments on acquisition	199	199
Nonaccrued interest on loans	109	118
Other real estate owned adjustments	3	17
Depreciation	42	37
Charitable contributions		12
State net operating loss carryforward	227
Total deferred tax assets	1,087	918
Deferred tax liabilities:
Federal Home Loan Bank stock dividends	(981)	(981)
Deferred loan origination costs	(30)	(33)
Loan servicing rights	(37)	(24)
Accrual to cash adjustment	(106)	(170)
Fair value accounting adjustments on acquisition	(547)	(547)
Total deferred tax liabilities	(1,701)	(1,755)
Net deferred tax liability	$ (614)	$ (837)

Loan Commitments (Details)

Loan Commitments (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Loan Commitments (Details) [Line Items]
Fixed rate loan commitments	$ 519,000	$ 854,000
Minimum [Member]
Loan Commitments (Details) [Line Items]
Loan commitments interest rates	2.63%	3.25%
Loan commitments maturities term	1 year	1 year
Maximum [Member]
Loan Commitments (Details) [Line Items]
Loan commitments interest rates	3.00%	6.00%
Loan commitments maturities term	30 years	30 years

Loan Commitments (Details) - Sc

Loan Commitments (Details) - Schedule of outstanding loan commitments - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Fixed [Member] | Unused commitment revolving, open-end lines secured by real estate [Member]
Unused commitment:
Outstanding loan commitments
Fixed [Member] | Unused commitment commitments to fund real estate construction loans [Member]
Unused commitment:
Outstanding loan commitments	519	854
Fixed [Member] | Other unused commitment commercial and industrial loans [Member]
Unused commitment:
Outstanding loan commitments	1,364	2,541
Fixed [Member] | Other unused commitment other [Member]
Unused commitment:
Outstanding loan commitments	886	1,576
Fixed [Member] | Other unused commitment Letters of credit [Member]
Unused commitment:
Outstanding loan commitments
Variable [Member] | Unused commitment revolving, open-end lines secured by real estate [Member]
Unused commitment:
Outstanding loan commitments	11,835	10,354
Variable [Member] | Unused commitment commitments to fund real estate construction loans [Member]
Unused commitment:
Outstanding loan commitments	4,125	8,443
Variable [Member] | Other unused commitment commercial and industrial loans [Member]
Unused commitment:
Outstanding loan commitments
Variable [Member] | Other unused commitment other [Member]
Unused commitment:
Outstanding loan commitments	4,207	2,454
Variable [Member] | Other unused commitment Letters of credit [Member]
Unused commitment:
Outstanding loan commitments

Stockholders' Equity and Regu_3

Stockholders' Equity and Regulatory Capital (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jan. 31, 2015
Stockholders’ Equity and Regulatory Capital [Abstract]
Qualified thrift lender, description	Federal regulations require the Banks comply with the Qualified Thrift Lender (“QTL”) test, which requires that 65% of assets be maintained in housing-related finance and other specified assets.
Average total consolidated assets (in Dollars)	$ 10,000
Leverage ratio	9.00%
Description of coronavirus aid relief and economic security	The first of the April 2020 interim final rules reduced the minimum ratio from 9% to 8% for those banking organizations otherwise meeting the other existing qualifying criteria) as well as establishing a two-quarter grace period for qualifying community banking organizations whose leverage ratios fall below the 8% CBLR requirement, so long as the banking organization maintains a leverage ratio of 7% or greater. The second interim final rule provides a transition from the temporary 8% CBLR requirement to a 9% requirement. It establishes a minimum CBLR of 8% for the second through fourth quarters of 2020, an 8.5% minimum for 2021 and 9% thereafter, while maintaining a two-quarter grace period for qualifying community banking organizations whose leverage ratios fall no more than 100 basis points below the applicable CBLR requirement. The Company intends to continue with the existing layered ratio structure. Under this framework the Company and the Banks would be considered well-capitalized under the applicable guidelines.
Common equity tier 1 risk-based capital ratio			6.50%
Tier 1 risk-based capital ratio			8.00%
Total risk-based capital ratio			10.00%
Tier 1 leverage ratio			5.00%
Capital conservation buffer			2.50%
First Federal MHC waived dividends (in Dollars)		$ 1.9

Stockholders' Equity and Regu_4

Stockholders' Equity and Regulatory Capital (Details) - Schedule of regulatory capital - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Common Equity Tier 1 capital ratio [Member] | Risk-based capital [Member]
Risk-based capital:
Actual Amount	$ 51,349	$ 50,962
Actual Ratio	27.50%	26.10%
Minimum Requirement For Capital Adequacy Purposes, Amount	$ 8,408	$ 8,305
Minimum Requirement For Capital Adequacy Purposes, Ratio	4.50%	4.50%
Tier 1 (core) capital ratio [Member] | Risk-based capital [Member]
Risk-based capital:
Actual Amount	$ 51,349	$ 50,962
Actual Ratio	27.50%	26.10%
Minimum Requirement For Capital Adequacy Purposes, Amount	$ 11,211	$ 11,073
Minimum Requirement For Capital Adequacy Purposes, Ratio	6.00%	6.00%
Total capital ratio [Member] | Risk-based capital [Member]
Risk-based capital:
Actual Amount	$ 51,349	$ 50,962
Actual Ratio	27.50%	26.10%
Minimum Requirement For Capital Adequacy Purposes, Amount	$ 14,947	$ 14,764
Minimum Requirement For Capital Adequacy Purposes, Ratio	8.00%	8.00%
Tier 1 leverage capital to average assets [Member] | Leverage capital [Member]
Risk-based capital:
Actual Amount	$ 51,349	$ 50,962
Actual Ratio	15.40%	15.70%
Minimum Requirement For Capital Adequacy Purposes, Amount	$ 13,378	$ 13,220
Minimum Requirement For Capital Adequacy Purposes, Ratio	4.00%	4.00%

Stockholders' Equity and Regu_5

Stockholders' Equity and Regulatory Capital (Details) - Schedule of banks’ regulatory capital - Community Bank Leverage Ratio [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
First Federal Savings and Loan Association of Hazard [Member]
Community Bank Leverage Ratio:
Actual Amount	$ 18,376	$ 18,256
Actual Ratio	20.90%	21.90%
Minimum Requirement For Capital Adequacy Purposes Amount	$ 7,021	$ 3,740
Minimum Requirement For Capital Adequacy Purposes Ratio	8.00%	8.00%
First Federal Savings Bank of Kentucky [Member]
Community Bank Leverage Ratio:
Actual Amount	$ 30,276	$ 29,898
Actual Ratio	12.30%	12.10%
Minimum Requirement For Capital Adequacy Purposes Amount	$ 19,734	$ 15,153
Minimum Requirement For Capital Adequacy Purposes Ratio	8.00%	8.00%

Condensed Financial Statement_3

Condensed Financial Statements of Kentucky First Federal Bancorp (Details) - Schedule of balance sheets - Parent Company [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
ASSETS
Other interest-bearing deposits	$ 9	$ 34
Prepaid expenses and other assets	458	883
Total assets	52,523	51,937
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable and other liabilities	227	26
Total liabilities	227	26
Shareholders’ equity	52,296	51,911
Total liabilities and shareholders’ equity	52,523	51,937
First Federal of Hazard [Member]
ASSETS
Interest-bearing deposits in First Federal of Hazard	933	1,282
Investment in First Federal of Hazard	18,407	18,314
First Federal of Kentucky [Member]
ASSETS
Interest-bearing deposits in First Federal of Kentucky	1,070	167
Frankfort First [Member]
ASSETS
Investment in Frankfort First	$ 31,646	$ 31,257

Condensed Financial Statement_4

Condensed Financial Statements of Kentucky First Federal Bancorp (Details) - Schedule of statements of income - Parent Company [Member] - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income
Interest income	$ 27	$ 42
Non-interest income	15
Total income	1,993	(12,281)
Non-interest expenses	330	325
Earnings (loss) before income taxes	1,663	(12,606)
Income tax expense (benefit)	(157)	(59)
Net income (loss)	1,820	(12,547)
Other comprehensive (loss) income, net of tax-related effects:
Unrealized holding losses on securities designated as available for sale during the year, net of taxes (benefits) of $(1) and $(1) in 2021 and 2020, respectively	(2)	(2)
Comprehensive income (loss)	1,818	(12,549)
First Federal of Hazard [Member]
Income
Dividends	590	607
Equity in undistributed earnings	101	(47)
Frankfort First [Member]
Income
Dividends	826	576
Equity in undistributed earnings	$ 434	$ (13,459)

Condensed Financial Statement_5

Condensed Financial Statements of Kentucky First Federal Bancorp (Details) - Schedule of statements of income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Parent Company [Member]
Condensed Income Statements, Captions [Line Items]
Unrealized holding gains (losses) on securities designated as available for sale	$ (1)	$ 1

Condensed Financial Statement_6

Condensed Financial Statements of Kentucky First Federal Bancorp (Details) - Schedule of statements of cash flows - Parent Company [Member] - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net (loss) earnings for the year	$ 1,820	$ (12,547)
Adjustments to reconcile net earnings to net cash provided by operating activities:
Excess (deficit) distributions over earnings (undistributed earnings) from consolidated subsidiaries	(535)	13,509
Noncash compensation expense	122	112
Gain on sale of automobile	16
Depreciation	11	12
Increase (decrease) in cash due to changes in:
Prepaid expenses and other assets	449	68
Other liabilities	201	4
Net cash provided by operating activities	2,084	1,158
Cash flows from investing activities:
Additions to premises and equipment, net
Net cash used in investing activities
Cash flows from financing activities:
Treasury stock purchases	(167)	(542)
Dividends paid on common stock	(1,388)	(1,388)
Net cash used in financing activities	(1,555)	(1,930)
Net increase (decrease) in cash and cash equivalents	529	(772)
Cash and cash equivalents at beginning of year	1,483	2,255
Cash and cash equivalents at end of year	$ 2,012	$ 1,483