Kentucky First Federal Bancorp (KFFB) 10-K 28 Sep 23 2023 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2023	Sep. 24, 2023	Dec. 31, 2022
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		8,086,715
Entity Public Float			$ 20.2
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, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	false
Document Annual Report	true
Document Transition Report	false
Entity File Number	0-51176
Entity Incorporation, State or Country Code	X1
Entity Tax Identification Number	61-1484858
Entity Address, Address Line One	655 Main Street
Entity Address, City or Town	Hazard
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	41702
City Area Code	(502)
Local Phone Number	223-1638
Title of 12(b) Security	Common Stock, $0.01 par value per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Financial Statement Error Correction [Flag]	false
Auditor Name	FORVIS, LLP
Auditor Location	Louisville, KY
Auditor Firm ID	686

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
ASSETS
Cash and due from financial institutions	$ 2,284	$ 2,002
Fed funds sold	665	14,824
Interest-bearing demand deposits	5,218	8,997
Cash and cash equivalents	8,167	25,823
Securities available-for-sale- at fair value	12,080	10,477
Securities held-to-maturity, at amortized cost-approximate fair value of $259 and $323 at June 30, 2023 and 2022, respectively	274	339
Loans held for sale		152
Loans, net of allowance of $1,634 and $1,529 at June 30, 2023 and 2022, respectively	313,807	274,583
Real estate acquired through foreclosure	70	10
Office premises and equipment - at depreciated cost	4,435	4,563
Federal Home Loan Bank stock - at cost	4,623	6,498
Accrued interest receivable	902	649
Bank-owned life insurance	2,831	2,750
Goodwill	947	947
Prepaid income taxes	144	382
Prepaid expenses and other assets	742	907
Total assets	349,022	328,080
LIABILITIES AND SHAREHOLDERS’ EQUITY
Savings	57,593	75,524
Certificates of deposit	137,315	124,705
Demand deposit accounts	31,401	39,628
Deposits	226,309	239,857
Federal Home Loan Bank advances	70,087	34,066
Advances by borrowers for taxes and insurance	793	766
Accrued interest payable	70	12
Deferred income taxes	513	889
Other liabilities	539	465
Total liabilities	298,311	276,055
Shareholders’ equity
Preferred stock, 500,000 shares authorized, $.01 par value; no shares issued
Common stock, 20,000,000 shares authorized, $.01 par value; 8,596,064 shares issued	86	86
Additional paid-in capital	34,891	34,892
Retained earnings - restricted	20,130	20,560
Unearned employee stock ownership plan (ESOP), 0 shares and 458 shares at June 30, 2023 and 2022, respectively		(5)
Treasury shares, 509,349 and 441,369 shares at June 30, 2023 and 2022, respectively	(3,969)	(3,508)
Accumulated other comprehensive loss	(427)
Total shareholders’ equity	50,711	52,025
Total liabilities and shareholders’ equity	$ 349,022	$ 328,080

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Statement of Financial Position [Abstract]
Securities held-to-maturity securities, fair value (in Dollars)	$ 259	$ 323
Loans, net of allowance (in Dollars)	$ 1,634	$ 1,529
Preferred stock, shares authorized	500,000	500,000
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued
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
Unearned employee stock ownership plan (ESOP), shares	0	458
Treasury stock, shares	509,349	441,369

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Interest income
Loans, including fees	$ 11,812	$ 10,659
Mortgage-backed securities	453	23
Other securities
Interest-bearing deposits and other	493	232
Total interest income	12,758	10,914
Interest expense
Deposits	1,811	1,387
Borrowings	2,091	367
Total interest expense	3,902	1,754
Net interest income	8,856	9,160
Provision (credit) for loan losses	113	(60)
Net interest income after provision for loan losses	8,743	9,220
Non-interest income
Earnings on bank-owned life insurance	81	78
Net gains on sales of loans	5	255
Net loss on sales of REO		(35)
Net gain on sale of property and equipment	10
Other	206	217
Total non-interest income	302	515
Non-interest expense
Employee compensation and benefits	4,915	4,853
Data processing	518	545
Occupancy and equipment	610	632
FDIC insurance premiums	117	71
Voice and data communications	124	123
Advertising	151	135
Outside service fees	242	166
Audit and accounting	213	216
Franchise and other taxes	136	150
Foreclosure and REO expense, net	103	101
Regulatory Assessments	81	103
Other	608	573
Total non-interest expense	7,818	7,668
Income before income taxes	1,227	2,067
Income tax expense
Current	528	202
Deferred	(234)	275
Total income tax expense	294	477
NET INCOME	$ 933	$ 1,590
EARNINGS PER SHARE
Basic (in Dollars per share)	$ 0.11	$ 0.19

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parentheticals) - $ / shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Diluted	$ 0.11	$ 0.19

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 933	$ 1,590
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 $(142) and $(0) in 2023 and 2022, respectively	(427)
Comprehensive income	$ 506	$ 1,590

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Unrealized holding losses on securities designated as available for sale	$ (142)	$ 0

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 (loss)	Total
Balance at Jun. 30, 2021	$ 86	$ 34,916	$ 20,364	$ (102)	$ (2,968)		$ 52,296
Net income			1,590				1,590
Allocation of ESOP shares		(24)		97			73
Acquisition of shares for treasury					(540)		(540)
Cash dividends of $0.40 per common share			(1,394)				(1,394)
Balance at Jun. 30, 2022	86	34,892	20,560	(5)	(3,508)		52,025
Net income			933				933
Allocation of ESOP shares		(1)		5			4
Acquisition of shares for treasury					(461)		(461)
Other comprehensive loss						(427)	(427)
Cash dividends of $0.40 per common share			(1,363)				(1,363)
Balance at Jun. 30, 2023	$ 86	$ 34,891	$ 20,130		$ (3,969)	$ (427)	$ 50,711

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders’ Equity (Parentheticals) - $ / shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends of per common share	$ 0.4	$ 0.4

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 933	$ 1,590
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	255	285
Accretion of purchased loan discount	(45)	(50)
Amortization of discounts and premiums on investment securities, net	(29)	6
Amortization of deferred loan origination costs (fees)	(17)	(98)
Net gain on sale of loans	(5)	(255)
Net loss on real estate owned		35
ESOP compensation expense	4	73
Net gain on sale of property & equipment	(10)
Earnings on bank-owned life insurance	(81)	(78)
Provision (credit) for loan losses	113	(60)
Origination of loans held for sale	(157)	(4,789)
Proceeds from loans held for sale	314	6,199
Deferred income tax	(234)	275
Changes in:
Accrued interest receivable	(253)	45
Prepaid expenses and other assets	232	(415)
Accrued interest payable	58	(8)
Accounts payable and other liabilities	74	(114)
Net cash provided by operating activities	1,152	2,641
Cash flows from investing activities:
Purchase of investments available for sale	(4,974)	(10,449)
Purchase of FHLB stock	(472)
Maturities of time deposits in other financial institutions		247
Investment securities maturities, prepayments and calls:
Held to maturity	61	118
Available for sale	2,836	4
Proceeds from redemption of FHLB stock	2,347
Proceeds from sale of property & equipment	180
Loans originated for investment, net of principal collected	(39,335)	23,514
Proceeds from sale of real estate owned		50
Additions to premises and equipment, net	(127)	(151)
Net cash provided by (used in) investing activities	(39,484)	13,333
Cash flows from financing activities:
Net increase (decrease) in deposits	(13,548)	13,014
Payments by borrowers for taxes and insurance, net	27	(72)
Proceeds from Federal Home Loan Bank advances	135,300	9,000
Repayments on Federal Home Loan Bank advances	(99,279)	(31,807)
Treasury stock purchases	(461)	(540)
Dividends paid on common stock	(1,363)	(1,394)
Net cash provided by (used in) financing activities	20,676	(11,799)
Net increase (decrease) in cash and cash equivalents	(17,656)	4,175
Beginning cash and cash equivalents	25,823	21,648
Ending cash and cash equivalents	8,167	25,823
Cash paid during the year for:
Income taxes	290	550
Interest on deposits and borrowings	3,844	1,762
Supplemental disclosure of noncash investing activities:
Transfers from loans to real estate acquired through foreclosure	60	45
Loans disbursed upon sales of real estate acquired through foreclosure		$ 32

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2023
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. Debt 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, Mortgage Servicing Rights, and Lender Risk Account 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 $14,000 and $20,000 during the years ended June 30, 2023 and 2022, respectively. The carrying value of the Company’s mortgage servicing rights totaled approximately $174,000 and $186,000 at June 30, 2023 and 2022, respectively. The fair value of the Company’s mortgage servicing rights totaled approximately $262,000 and $186,000 at June 30, 2023 and 2022, respectively. The Company was servicing mortgage loans of approximately $21.7 million and $23.2 million that had been sold to the Federal Home Loan Bank at June 30, 2023 and 2022, 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 $42,000 and $42,000 for the fiscal years ended June 30, 2023 and 2022, respectively. Late fees and ancillary fees related to loan servicing are not material. Certain loan sale transactions with the Federal Home Loan Bank of Cincinnati (“FHLB”) provide for the establishment of a Lender Reserve Account (“LRA”). The LRA consists of amounts withheld by FHLB from loan sale proceeds for absorbing inherent losses that are probable on those sold loans. These withheld funds are an asset to the Company, as they are scheduled to be paid to the Company in future years, net of any credit losses on those loans sold. The receivables are initially measured at fair value. The fair value is estimated by discounting the cash flows over the life of each master commitment contract. The accretable yield is amortized over the life of the master commitment contract. Expected cash flows are reevaluated at each measurement date. If there is an adverse change in expected cash flows, the accretable yield would be adjusted on a prospective basis and the asset evaluated for impairment. 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. With few exceptions, the Company is no longer subject to U.S. federal, state and local tax examinations by tax authorities for years before 2019. 11. Retirement and Employee Benefit Plans The Company also maintained a nonqualified deferred compensation plan for the benefit of certain directors, which was closed to any future deferrals. The expense incurred for the deferred compensation was $0 and $4,000 for the fiscal years ended June 30, 2023 and 2022, respectively. The plan terminated in fiscal year 2022 with the payment of all amounts due. 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 was contingent upon the repayment of a loan to Kentucky First Federal Bancorp totaling $14,000 at June 30, 2022. The loan was fully repaid during the year ended June 30, 2023. The Company recorded expense for the ESOP of approximately $4,000 and $73,000 for the years ended June 30, 2023 and 2022, respectively. Shares may be surrendered from the plan as employees leave employment. Total shares surrendered from the plan totaled 226,313 and 218,894 at June 30, 2023 and 2022, respectively. The amounts contributed to the ESOP were $14,000 and $280,000 for the years 2023 and 2022, respectively. For the fiscal year ended June 30, 2023 2022 Allocated shares 110,660 117,065 Shares committed to be released - 463 Unearned shares - 461 Total ESOP shares 110,660 117,989 Fair value of unearned shares at end of period $ - $ 4,000 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, 2023 2022 Net income allocated to common shareholders, basic and diluted $ 933,000 $ 1,590,000 EARNINGS PER SHARE $ 0.11 $ 0.19 Weighted average common shares outstanding, basic and diluted 8,131,568 8,213,407 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 2023 and 2022. 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, 2023 and 2022. The securities represented are only those classified as available-for sale. Fair Value Measurements Using Quotes Prices Significant Significant (in thousands) Fair Value (Level 1) (Level 2) (Level 3) 2023 Agency mortgage-backed: residential $ 12,080 $ - $ 12,080 $ - 2022 Agency mortgage-backed: residential $ 10,477 $ - $ 10,477 $ - There were no transfers between levels 1 and 2. There were no assets or liabilities measured at fair value on a nonrecurring basis at June 30, 2023 and 2022. 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, 2023 and 2022 are as follows: Fair Value Measurements at Carrying June 30, 2023 Using (in thousands) Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 8,167 $ 8,167 $ 8,167 Available-for-sale securities 12,080 $ 12,080 12,080 Held-to-maturity securities 274 259 259 Loans receivable - net 313,807 $ 293,530 293,530 Federal Home Loan Bank stock 4,623 n/a Accrued interest receivable 902 902 902 Financial liabilities Deposits $ 226,309 $ 88,994 $ 136,577 $ 225,571 Federal Home Loan Bank advances 70,087 69,863 69,863 Advances by borrowers for taxes and insurance 793 793 793 Accrued interest payable 70 70 70 Fair Value Measurements at Carrying June 30, 2022 Using (in thousands) Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 25,823 $ 25,823 $ 25,823 Available-for-sale securities 10,477 $ 10,477 10,477 Held-to-maturity securities 339 323 323 Loans held for sale 152 153 153 Loans receivable - net 274,583 $ 271,994 271,994 Federal Home Loan Bank stock 6,498 n/a Accrued interest receivable 649 649 649 Financial liabilities Deposits $ 239,857 $ 115,152 $ 124,682 $ 239,834 Federal Home Loan Bank advances 34,066 33,688 33,688 Advances by borrowers for taxes and insurance 766 766 766 Accrued interest payable 12 12 12 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) 2023 2022 Outstanding principal, beginning of year $ 688 $ 1,405 Changes in composition of related parties - - Principal disbursed during the year - - Principal repaid and refinanced during the year (208 ) (717 ) Outstanding principal, end of year $ 480 $ 688 Deposits from related parties held by the Company at June 30, 2023 and 2022 totaled $5.1 million and $5.3 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 (Loss) 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 – In March 2022 the Financial Accounting Standards Board (“FASB”) issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, as an update to its post-implementation review activities associated with ASU No. 2016-13. The amendments in this Update eliminate the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables-Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance provided to determine whether a modification results in a new loan or a continuation of an existing loan. This Update also requires disclosure by public business entities of current-period gross writeoffs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments-Credit Losses-Measured at Amortized Cost. Because the Company has not yet adopted amendments in Update 2016-13, the amendments in this Update are effective for the fiscal year beginning July 1, 2023. 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, 2023
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, 2023 and 2022 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 unrealized gains or losses on held-to-maturity securities are not recognized in the financial statements. The gains and losses are as follows: 2023 (in thousands) Amortized Gross Gross Estimated Available-for-sale Securities Agency mortgage-backed residential $ 12,649 $ - $ 569 $ 12,080 Held-to-maturity Securities Agency mortgage-backed: residential $ 274 $ - $ 15 $ 259 2022 (in thousands) Amortized Gross Gross Estimated Available-for-sale Securities Agency mortgage-backed residential $ 10,477 $ - $ - $ 10,477 Held-to-maturity Securities Agency mortgage-backed: residential $ 339 $ 2 $ 18 $ 323 At June 30, 2023, 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. There were no sales of securities during the fiscal year ended June 30, 2023 or 2022. At June 30, 2023 the Company had no available-for-sale mortgage-backed securities with gross unrealized losses that had been in an unrealized loss position for more than 12 months and $12,080,000 in available-for-sale mortgage-backed securities with gross unrealized losses of $569,000 that had been in an unrealized loss position for less than 12 months. At June 30, 2022, the Company had no available-for-sale mortgage-backed securities in a gross unrealized loss position. At June 30, 2023 the Company had $274,000 in held-to-maturity mortgage-backed securities with gross unrealized losses of $15,000 that had been in an unrealized loss position for more than 12 months and no held-to-maturity mortgage-backed securities with gross unrealized losses that had been in an unrealized loss position for less than 12 months. At June 30, 2022, the Company had $40,000 in held-to-maturity mortgage-backed securities with gross unrealized losses of $3,000 that had been in an unrealized loss position for more than 12 months and $202,000 held-to-maturity mortgage-backed securities with gross unrealized losses of $15,000 that had been in an unrealized loss position for less than 12 months. Securities in an unrealized loss position as a percent of total securities were 100% and 2.4% at June 30, 2023 and 2022, respectively. 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, 2023 and 2022, pledged securities totaled $5.9 million and $1.7 million, respectively. In addition, at June 30, 2023 and 2022, our pledged assets also included overnight deposits of $1.5 million and $1.5 million, respectively.

Loans

Loans	12 Months Ended
	Jun. 30, 2023
Loans [Abstract]
LOANS	NOTE C - LOANS The composition of the loan portfolio at June 30 was as follows: (in thousands) 2023 2022 Residential real estate One- to four-family $ 240,076 $ 216,432 Multi-family 19,067 14,252 Construction 12,294 1,363 Land 470 1,062 Farm 1,346 1,338 Nonresidential real estate 30,217 31,441 Commercial and industrial 1,184 1,006 Consumer and other Loans on deposits 855 891 Home equity 9,217 7,670 Automobile 104 117 Unsecured 611 540 315,441 276,112 Allowance for loan losses (1,634 ) (1,529 ) $ 313,807 $ 274,583 The amounts above include net deferred loan fees of $330,000 and $290,000 as of June 30, 2023 and 2022. 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, 2023 and 2022. There were $196,000 and $400,000 in loans acquired with deteriorated credit quality at June 30, 2023 and 2022, respectively. June 30, 2023: (in thousands) Loans Loans Ending Ending Loans individually evaluated for impairment: Residential real estate One- to four-family $ 2,833 $ 196 $ 3,029 $ - Nonresidential real estate 1,717 - 1,717 - Home Equity 267 - 267 - 4,817 196 5,013 - Loans collectivelly evaluated for impairment: Residential real estate One- to four-family $ 237,047 $ 857 Multi-family 19,067 278 Construction 12,294 41 Land 470 1 Farm 1,346 4 Nonresidential real estate 28,500 405 Commercial and industrial 1,184 24 Consumer and other Loans on deposits 855 1 Home equity 8,950 24 Automobile 104 - Unsecured 611 1 310,428 1,634 $ 315,441 $ 1,634 * These loans were evaluated at acquisition date at their estimated fair value and there has been no subsequent deterioration since acquisition. (in thousands) Loans Loans Ending Ending Loans individually evaluated for impairment: Residential real estate One- to four-family $ 3,221 $ 400 $ 3,621 $ - Multi-family 570 - 570 - Farm 270 - 270 - Nonresidential real estate 1,073 - 1,073 - Consumer and other Home equity 87 - 87 - Unsecured 5 - 5 - 5,226 400 5,626 - Loans collectivelly evaluated for impairment: Residential real estate One- to four-family $ 212,811 $ 800 Multi-family 13,682 231 Construction 1,363 4 Land 1,062 3 Farm 1,068 5 Nonresidential real estate 30,368 461 Commercial and industrial 1,006 2 Consumer and other Loans on deposits 891 1 Home equity 7,583 21 Automobile 117 - Unsecured 535 1 270,486 1,529 $ 276,112 $ 1,529 * These loans were evaluated at acquisition date at their estimated fair value and there has been no subsequent deterioration since acquisition. The following table presents impaired loans by class of loans as of and for the years ended June 30, 2023 and 2022: (in thousands) Unpaid Allowance Average Interest Cash Basis June 30, 2023: With no related allowance recorded: Residential real estate One- to four-family $ 3,029 $ - $ 3,325 $ 161 $ 161 Multi-family - - 285 22 22 Farm - - 135 15 15 Nonresidential real estate 1,717 - 1,395 63 63 Consumer and other Home equity 267 - 177 6 6 Unsecured - - 2 1 1 $ 5,013 $ - $ 5,319 $ 268 $ 268 June 30, 2022: With no related allowance recorded: Residential real estate One- to four-family $ 3,621 $ - $ 3,970 $ 145 $ 145 Multi-family 570 - 608 19 19 Farm 270 - 272 16 16 Nonresidential real estate 1,073 - 1,220 59 59 Consumer and other - - - Home equity 87 - 52 1 1 Unsecured 5 - 11 - - $ 5,626 $ - $ 6,133 $ 240 $ 240 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, 2023 and 2022. The tables include loans acquired with deteriorated credit quality. At June 30, 2023, the table below includes approximately $197,000 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, 2022, approximately $301,000 of loans on nonaccrual and no loans past due over 90 days and still accruing represent such loans. June 30, 2023 June 30, 2022 (in thousands) Nonaccrual Loans Nonaccrual Loans Residential real estate One- to four-family $ 3,028 $ 365 $ 3,528 $ 287 Multi-family - - 570 - Farm - - 270 - Nonresidential real estate 1,013 - 1,073 - Commercial and industrial - - - 1 Consumer and other Home equity 267 - 87 - Unsecured - 28 3 - $ 4,308 $ 393 $ 5,531 $ 288 One- to four-family loans in process of foreclosure totaled $766,000 and $489,000 at June 30, 2023 and 2022, 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, 2023 and 2022, the Company had $464,000 and $1.4 million of loans classified as TDRs, respectively. Of the TDRs at June 30, 2023, approximately 40.3% 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, 2023 and 2022, the Company had no loans restructured as TDRs. The Company had no allocated specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of June 30, 2023 or 2022. At June 30, 2023 and 2022, TDR loans on nonaccrual status totaled $430,000 and $1.4 million, respectively. The Company had no commitments to lend additional amounts as of June 30, 2023 and 2022, to customers with outstanding loans that are classified as troubled debt restructurings. The Company had no TDR loans which defaulted during fiscal 2023 or during fiscal 2022. The following tables present the aging of the principal balance outstanding in accruing past due loans as of June 30, 2023 and 2022, by class of loans. The tables include loans acquired with deteriorated credit quality. At June 30, 2023, the table below includes $68,000 in loans 30-89 days past due and approximately $58,000 of loans past due over 90 days that were acquired with deteriorated credit quality, while at June 30, 2022, the table below includes $161,000 in loans 30-89 days past due and approximately $15,000 of loans past due over 90 days of such loans. June 30, 2023: (in thousands) 30-89 Days Greater Total Past Loans Not Total Residential real estate One- to four-family $ 3,415 $ 1,514 $ 4,929 $ 235,147 $ 240,076 Multi-family - - - 19,067 19,067 Construction - - - 12,294 12,294 Land - - - 470 470 Farm - - - 1,346 1,346 Nonresidential real estate 662 - 662 29,555 30,217 Commercial and industrial - 28 28 1,156 1,184 Consumer and other Loans on deposits - - - 855 855 Home equity 168 267 435 8,782 9,217 Automobile - - - 104 104 Unsecured 17 - 17 594 611 $ 4,262 $ 1,809 $ 6,071 $ 309,370 $ 315,441 June 30, 2022: (in thousands) 30-89 Days Greater Total Past Loans Not Total Residential real estate One- to four-family $ 2,662 $ 1,326 $ 3,988 $ 212,444 $ 216,432 Multi-family - - - 14,252 14,252 Construction 5 - 5 1,358 1,363 Land - - - 1,062 1,062 Farm - - - 1,338 1,338 Nonresidential real estate - - - 31,441 31,441 Commercial and industrial 72 1 73 933 1,006 Consumer and other Loans on deposits - - - 891 891 Home equity 188 71 259 7,411 7,670 Automobile - - - 117 117 Unsecured - - - 540 540 $ 2,927 $ 1,398 $ 4,325 $ 271,787 $ 276,112 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, 2023, and 2022, and based on the most recent analysis performed, the risk category of loans by class of loans was as follows: June 30, 2023: (in thousands) Pass Special Substandard Doubtful Residential real estate One- to four-family $ 234,765 $ 170 $ 5,141 $ - Multi-family 19,067 - - - Construction 12,294 - - - Land 470 - - - Farm 1,346 - - - Nonresidential real estate 27,816 684 1,717 - Commercial and industrial 1,184 - - - Consumer and other Loans on deposits 855 - - - Home equity 8,879 - 338 - Automobile 104 - - - Unsecured 611 - - - $ 307,391 $ 854 $ 7,196 $ - June 30, 2022: (in thousands) Pass Special Substandard Doubtful Residential real estate One- to four-family $ 210,830 $ 194 $ 5,408 $ - Multi-family 13,682 - 570 - Construction 1,363 - - - Land 1,062 - - - Farm 1,068 - 270 - Nonresidential real estate 29,666 702 1,073 - Commercial and industrial 1,006 - - - Consumer and other Loans on deposits 891 - - - Home equity 7,548 - 122 - Automobile 117 - - - Unsecured 535 - 5 - $ 267,768 $ 896 $ 7,448 $ - The following tables present the activity in the allowance for loan losses by portfolio segment for the years ended June 30, 2023 and 2022: June 30, 2023: (in thousands) Beginning Provision Loans Recoveries Ending Residential real estate One- to four-family $ 800 $ 73 $ (29 ) $ 13 $ 857 Multi-family 231 47 - - 278 Construction 4 37 - - 41 Land 3 (2 ) - - 1 Farm 5 (1 ) - - 4 Nonresidential real estate 461 (64 ) - 8 405 Commercial and industrial 2 21 - - 23 Consumer and other Loans on deposits 1 - - - 1 Home equity 21 2 - - 23 Automobile - - - - Unsecured 1 - - - 1 $ 1,529 $ 113 $ (29 ) $ 21 $ 1,634 June 30, 2022: (in thousands) Beginning Provision Loans Recoveries Ending balance Residential real estate One- to four-family $ 794 $ 37 $ (31 ) $ - $ 800 Multi-family 291 (60 ) - - 231 Construction 12 (8 ) - - 4 Land 3 - - - 3 Farm 5 - - - 5 Nonresidential real estate 494 (33 ) - - 461 Commercial and industrial 5 (3 ) - - 2 Consumer and other Loans on deposits 2 (1 ) - - 1 Home equity 15 6 - - 21 Automobile - - - - - Unsecured 1 2 (4 ) 2 1 $ 1,622 $ (60 ) $ (35 ) $ 2 $ 1,529 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 $88,000, at June 30, 2023 and 2022, respectively, was as follows: (in thousands) 2023 2022 Residential real estate One- to four-family $ 196 $ 400 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) 2023 2022 Balance at beginning of year $ 339 $ 390 Accretion of income (45 ) (51 ) Balance at end of year $ 294 $ 339 For those purchased loans disclosed above, the Company made no increase in allowance for loan losses for the years ended June 30, 2023 or 2022, nor were any allowance for loan losses reversed during those years.

Real Estate Owned

Real Estate Owned	12 Months Ended
	Jun. 30, 2023
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) 2023 2022 Balance at beginning of year $ 10 $ 82 Loans transferred to real estate owned 60 45 Capitalized expenditures - - Valuation adjustments - - Disposals - (117 ) Balance at end of year $ 70 $ 10

Premises and Equipment

Premises and Equipment	12 Months Ended
	Jun. 30, 2023
Premises and Equipment [Abstract]
PREMISES AND EQUIPMENT	NOTE E - PREMISES AND EQUIPMENT Premises and equipment at June 30 are comprised of the following: (in thousands) 2023 2022 Land $ 1,516 $ 1,516 Buildings and improvements 6,768 6,654 Furniture & equipment 2,220 2,206 10,504 10,376 Less: accumulated depreciation 6,069 5,813 Balance at end of year $ 4,435 $ 4,563

Goodwill

Goodwill	12 Months Ended
	Jun. 30, 2023
Goodwill [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, 2023 and 2022. 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, 2023
Deposits [Abstract]
DEPOSITS	NOTE G - DEPOSITS Deposits consist of the following major classifications at June 30: (in thousands) 2023 2022 Non-interest bearing checking accounts $ 12,333 $ 15,726 Checking accounts 19,068 23,902 Savings Accounts 49,477 62,649 Money market demand deposits 8,116 12,875 Total demand, transaction and passbook deposits 88,994 115,152 Certificates of deposit 137,315 124,705 Total deposits $ 226,309 $ 239,857 Maturities of outstanding certificates of deposit at June 30 are summarized as follows: (in thousands) 2023 2024 $ 119,479 2025 13,081 2026 1,868 2027 1,167 2028 and thereafter 1,720 $ 137,315 At June 30, 2023 and 2022, the Company had certificate of deposit accounts with balances equal to or in excess of $250,000 totaling approximately $14.7 million and $13.1 million, respectively. Brokered certificates of deposit totaled $21.0 million at June 30, 2023.

Advances from the Federal Home

Advances from the Federal Home Loan Bank	12 Months Ended
	Jun. 30, 2023
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, 2023 and 2022 by pledges of collateral composed of first mortgage residential and multi-family loans totaling $157.3 million and $167.8 million, respectively, and the Banks’ investment in Federal Home Loan Bank stock, are summarized as follows: (in thousands) 2023 2023 $ 66,360 2024 3,643 2025 31 2026 22 2027 16 2028 11 2029 4 2030-2033 - $ 70,087 At June 30, 2023 interest rates for advances were fixed ranging from 1.64% to 5.27%, with a weighted-average interest rate of 4.85%. 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 $87.3 million as of June 30, 2023. In addition, we have the ability to borrow from the Federal Reserve Bank Discount Window. At June 30, 2023, based on home equity loans and share loans we had pledged collateral which would enable us to borrow up to $5.6 million. First Federal Savings Bank of Kentucky at June 30, 2023, had a $2.0 million Fed Funds line of credit with the Independent Correspondent Bankers’ Bank.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2023
Income Taxes [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, 2023 and 2022, as follows: (in thousands) 2023 2022 Income taxes at the statutory rate $ 258 $ 434 Increase (decrease) resulting from: Cash surrender value of life insurance (17 ) (16 ) State income taxes 55 130 Other (2 ) (71 ) $ 294 $ 477 The composition of the Company’s net deferred tax liability at June 30 is as follows: (in thousands) 2023 2022 Taxes (payable) refundable on temporary differences at estimated corporate tax rate: Deferred tax assets: General loan loss allowance $ 408 $ 381 Accrued expenses 44 72 Fair value accounting adjustments at acquisition 95 107 Nonaccrued interest on loans 103 107 Unrealized loss on available-for-sale securities 142 - Depreciation 68 73 State net operating loss carryforward 64 121 Total deferred tax assets 924 861 Deferred tax liabilities: Federal Home Loan Bank stock dividends (606 ) (981 ) Deferred loan origination costs (68 ) (36 ) Loan servicing rights (43 ) (46 ) Accrual to cash adjustment (185 ) (152 ) Fair value accounting adjustments on acquisition (535 ) (535 ) Total deferred tax liabilities (1,437 ) (1,750 ) Net deferred tax liability $ (513 ) $ (889 ) The Company has state net operating loss carryforward of $1.6 million, which expires beginning 2037. 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, 2023 include approximately $5.2 million for which federal and state 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, 2023.

Loan Commitments

Loan Commitments	12 Months Ended
	Jun. 30, 2023
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, 2023 and 2022, the Banks had the following outstanding loan commitments: 2023 2022 (in thousands) Fixed Variable Fixed Variable Unused commitment: Revolving, open-end lines secured by real estate $ - $ 13,372 $ - $ 11,961 Commitments to fund real estate construction loans - 8,919 - 1,315 Other unused commitments: Commercial and industrial loans 84 668 18 65 Other 562 5,010 667 3,966 Letters of credit - 626 - - Commitments to make loans are generally made for periods of 60 days or less. There were no

Stockholders' Equity and Regula

Stockholders' Equity and Regulatory Capital	12 Months Ended
	Jun. 30, 2023
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. In April 2020, federal banking regulators issued temporary changes to the CBLR framework according to certain directives of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. These changes were adopted as a final rule and applied to those banking organizations otherwise meeting the other existing qualifying criteria. The changes temporarily reduced the minimum ratio from 9% to 8% through the end of 2020 and established a two-quarter grace period for qualifying community banking organizations. The final rule provided for a transition from the temporary 8% CBLR requirement to a 9% requirement by establishing a minimum CBLR of 8.5% 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. 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 and Banks’ regulatory capital as of June 30, 2023 and 2022 is presented in the following table. Actual For Capital Adequacy (Dollars in thousands) Amount Ratio Amount Ratio Community Bank Leverage Ratio: June 30, 2023 Kentucky First Federal Bancorp $ 50,190 15.0 % $ 30,075 9.0 % First Federal Savings and Loan Association of Hazard $ 18,220 20.4 % $ 8,034 9.0 % First Federal Savings Bank of Kentucky $ 29,880 11.7 % $ 23,050 9.0 % June 30, 2022 Kentucky First Federal Bancorp $ 51,078 15.2 % $ 30,232 9.0 % First Federal Savings and Loan Association of Hazard $ 18,430 22.0 % $ 7,525 9.0 % First Federal Savings Bank of Kentucky $ 30,093 12.0 % $ 22,584 9.0 % As of June 30, 2023 and 2022, 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, 2023 and 2022, 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, 2023
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, 2023 and 2022, and the results of its operations and its cash flows for the fiscal years ended June 30, 2023 and 2022. (in thousands) 2023 2022 ASSETS Interest-bearing deposits in First Federal of Hazard $ 473 $ 1,185 Interest-bearing deposits in First Federal of Kentucky 657 703 Other interest-bearing deposits - 9 Investment in First Federal of Hazard 18,035 18,433 Investment in Frankfort First 30,610 31,139 Prepaid expenses and other assets 988 602 Total assets $ 50,763 $ 52,071 LIABILITIES AND SHAREHOLDERS’ EQUITY Accounts payable and other liabilities $ 52 $ 46 52 46 Shareholders’ equity 50,711 52,025 Total liabilities and shareholders’ equity $ 50,763 $ 52,071 (in thousands) 2023 2022 Income Interest income $ 4 $ 14 Non-interest income - - Dividends from First Federal of Hazard 935 846 Equity in undistributed (excess distributed) earnings of First Federal of Hazard (218 ) 32 Dividends from Frankfort First 681 1,480 Equity in undistributed (excess distributed) earnings of Frankfort First (267 ) (475 ) Total income 1,135 1,897 Non-interest expenses 382 384 Earnings before income taxes 753 1,513 Income tax expense (benefit) (180 ) (77 ) Net income (loss) 933 1,590 Other comprehensive (loss) income, net of tax-related effects: Unrealized holding losses on securities designated as available-for-sale during the year, net (427 ) - $ 506 $ 1,590 (in thousands) 2023 2022 Cash flows from operating activities: Net earnings for the year $ 933 $ 1,590 Adjustments to reconcile net earnings to net cash provided by operating activities: Excess (deficit) distributions over earnings (undistributed earnings from consolidated subsidiaries 485 443 Noncash compensation expense 4 73 Increase (decrease) in cash due to changes in: Prepaid expenses and other assets (371 ) (106 ) Other liabilities 6 (181 ) Net cash provided by operating activities 1,057 1,819 Cash flows from financing activities: Treasury stock purchases (461 ) (540 ) Dividends paid on common stock (1,363 ) (1,394 ) Net cash used in financing activities (1,824 ) (1,934 ) Net increase (decrease) in cash and cash equivalents (767 ) (115 ) Cash and cash equivalents at beginning of year 1,897 2,012 Cash and cash equivalents at end of year $ 1,130 $ 1,897

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Principles of Consolidation	1. Principles of Consolidation
Use of Estimates	2. Use of Estimates
Debt Securities	3. Debt 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, Mortgage Servicing Rights, and Lender Risk Account	5. Loans held for sale, Mortgage Servicing Rights, and Lender Risk Account 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 $14,000 and $20,000 during the years ended June 30, 2023 and 2022, respectively. The carrying value of the Company’s mortgage servicing rights totaled approximately $174,000 and $186,000 at June 30, 2023 and 2022, respectively. The fair value of the Company’s mortgage servicing rights totaled approximately $262,000 and $186,000 at June 30, 2023 and 2022, respectively. The Company was servicing mortgage loans of approximately $21.7 million and $23.2 million that had been sold to the Federal Home Loan Bank at June 30, 2023 and 2022, 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 $42,000 and $42,000 for the fiscal years ended June 30, 2023 and 2022, respectively. Late fees and ancillary fees related to loan servicing are not material. Certain loan sale transactions with the Federal Home Loan Bank of Cincinnati (“FHLB”) provide for the establishment of a Lender Reserve Account (“LRA”). The LRA consists of amounts withheld by FHLB from loan sale proceeds for absorbing inherent losses that are probable on those sold loans. These withheld funds are an asset to the Company, as they are scheduled to be paid to the Company in future years, net of any credit losses on those loans sold. The receivables are initially measured at fair value. The fair value is estimated by discounting the cash flows over the life of each master commitment contract. The accretable yield is amortized over the life of the master commitment contract. Expected cash flows are reevaluated at each measurement date. If there is an adverse change in expected cash flows, the accretable yield would be adjusted on a prospective basis and the asset evaluated for impairment.
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
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. With few exceptions, the Company is no longer subject to U.S. federal, state and local tax examinations by tax authorities for years before 2019.
Retirement and Employee Benefit Plans	11. Retirement and Employee Benefit Plans The Company also maintained a nonqualified deferred compensation plan for the benefit of certain directors, which was closed to any future deferrals. The expense incurred for the deferred compensation was $0 and $4,000 for the fiscal years ended June 30, 2023 and 2022, respectively. The plan terminated in fiscal year 2022 with the payment of all amounts due. 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 was contingent upon the repayment of a loan to Kentucky First Federal Bancorp totaling $14,000 at June 30, 2022. The loan was fully repaid during the year ended June 30, 2023. The Company recorded expense for the ESOP of approximately $4,000 and $73,000 for the years ended June 30, 2023 and 2022, respectively. Shares may be surrendered from the plan as employees leave employment. Total shares surrendered from the plan totaled 226,313 and 218,894 at June 30, 2023 and 2022, respectively. The amounts contributed to the ESOP were $14,000 and $280,000 for the years 2023 and 2022, respectively. For the fiscal year ended June 30, 2023 2022 Allocated shares 110,660 117,065 Shares committed to be released - 463 Unearned shares - 461 Total ESOP shares 110,660 117,989 Fair value of unearned shares at end of period $ - $ 4,000 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, 2023 2022 Net income allocated to common shareholders, basic and diluted $ 933,000 $ 1,590,000 EARNINGS PER SHARE $ 0.11 $ 0.19 Weighted average common shares outstanding, basic and diluted 8,131,568 8,213,407 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 2023 and 2022.
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, 2023 and 2022. The securities represented are only those classified as available-for sale. Fair Value Measurements Using Quotes Prices Significant Significant (in thousands) Fair Value (Level 1) (Level 2) (Level 3) 2023 Agency mortgage-backed: residential $ 12,080 $ - $ 12,080 $ - 2022 Agency mortgage-backed: residential $ 10,477 $ - $ 10,477 $ - There were no transfers between levels 1 and 2. There were no assets or liabilities measured at fair value on a nonrecurring basis at June 30, 2023 and 2022. 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, 2023 and 2022 are as follows: Fair Value Measurements at Carrying June 30, 2023 Using (in thousands) Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 8,167 $ 8,167 $ 8,167 Available-for-sale securities 12,080 $ 12,080 12,080 Held-to-maturity securities 274 259 259 Loans receivable - net 313,807 $ 293,530 293,530 Federal Home Loan Bank stock 4,623 n/a Accrued interest receivable 902 902 902 Financial liabilities Deposits $ 226,309 $ 88,994 $ 136,577 $ 225,571 Federal Home Loan Bank advances 70,087 69,863 69,863 Advances by borrowers for taxes and insurance 793 793 793 Accrued interest payable 70 70 70 Fair Value Measurements at Carrying June 30, 2022 Using (in thousands) Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 25,823 $ 25,823 $ 25,823 Available-for-sale securities 10,477 $ 10,477 10,477 Held-to-maturity securities 339 323 323 Loans held for sale 152 153 153 Loans receivable - net 274,583 $ 271,994 271,994 Federal Home Loan Bank stock 6,498 n/a Accrued interest receivable 649 649 649 Financial liabilities Deposits $ 239,857 $ 115,152 $ 124,682 $ 239,834 Federal Home Loan Bank advances 34,066 33,688 33,688 Advances by borrowers for taxes and insurance 766 766 766 Accrued interest payable 12 12 12
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) 2023 2022 Outstanding principal, beginning of year $ 688 $ 1,405 Changes in composition of related parties - - Principal disbursed during the year - - Principal repaid and refinanced during the year (208 ) (717 ) Outstanding principal, end of year $ 480 $ 688 Deposits from related parties held by the Company at June 30, 2023 and 2022 totaled $5.1 million and $5.3 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 (Loss)
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 – In March 2022 the Financial Accounting Standards Board (“FASB”) issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, as an update to its post-implementation review activities associated with ASU No. 2016-13. The amendments in this Update eliminate the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables-Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance provided to determine whether a modification results in a new loan or a continuation of an existing loan. This Update also requires disclosure by public business entities of current-period gross writeoffs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments-Credit Losses-Measured at Amortized Cost. Because the Company has not yet adopted amendments in Update 2016-13, the amendments in this Update are effective for the fiscal year beginning July 1, 2023. 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, 2023
Accounting Policies [Abstract]
Schedule of Contributed to ESOP	The amounts contributed to the ESOP were $14,000 and $280,000 for the years 2023 and 2022, respectively. For the fiscal year ended June 30, 2023 2022 Allocated shares 110,660 117,065 Shares committed to be released - 463 Unearned shares - 461 Total ESOP shares 110,660 117,989 Fair value of unearned shares at end of period $ - $ 4,000
Schedule of Earnings Per Share	There is no adjustment to net earnings for the calculation of diluted earnings per share. The factors used in the basic and diluted earnings per share computations for the fiscal years ended June 30 follow: For the fiscal year ended June 30, 2023 2022 Net income allocated to common shareholders, basic and diluted $ 933,000 $ 1,590,000 EARNINGS PER SHARE $ 0.11 $ 0.19 Weighted average common shares outstanding, basic and diluted 8,131,568 8,213,407
Schedule of Fair Value Measurements of Assets and Liabilities	The following table presents the fair value measurements of assets and liabilities measured at fair value on a recurring basis at June 30, 2023 and 2022. The securities represented are only those classified as available-for sale. Fair Value Measurements Using Quotes Prices Significant Significant (in thousands) Fair Value (Level 1) (Level 2) (Level 3) 2023 Agency mortgage-backed: residential $ 12,080 $ - $ 12,080 $ - 2022 Agency mortgage-backed: residential $ 10,477 $ - $ 10,477 $ -
Schedule of Financial Instruments	The Company’s financial instruments at June 30, 2023 and 2022 are as follows: Fair Value Measurements at Carrying June 30, 2023 Using (in thousands) Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 8,167 $ 8,167 $ 8,167 Available-for-sale securities 12,080 $ 12,080 12,080 Held-to-maturity securities 274 259 259 Loans receivable - net 313,807 $ 293,530 293,530 Federal Home Loan Bank stock 4,623 n/a Accrued interest receivable 902 902 902 Financial liabilities Deposits $ 226,309 $ 88,994 $ 136,577 $ 225,571 Federal Home Loan Bank advances 70,087 69,863 69,863 Advances by borrowers for taxes and insurance 793 793 793 Accrued interest payable 70 70 70 Fair Value Measurements at Carrying June 30, 2022 Using (in thousands) Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 25,823 $ 25,823 $ 25,823 Available-for-sale securities 10,477 $ 10,477 10,477 Held-to-maturity securities 339 323 323 Loans held for sale 152 153 153 Loans receivable - net 274,583 $ 271,994 271,994 Federal Home Loan Bank stock 6,498 n/a Accrued interest receivable 649 649 649 Financial liabilities Deposits $ 239,857 $ 115,152 $ 124,682 $ 239,834 Federal Home Loan Bank advances 34,066 33,688 33,688 Advances by borrowers for taxes and insurance 766 766 766 Accrued interest payable 12 12 12
Schedule of Loans Outstanding	Related Party Transactions (in thousands) 2023 2022 Outstanding principal, beginning of year $ 688 $ 1,405 Changes in composition of related parties - - Principal disbursed during the year - - Principal repaid and refinanced during the year (208 ) (717 ) Outstanding principal, end of year $ 480 $ 688

Securities (Tables)

Securities (Tables)	12 Months Ended
	Jun. 30, 2023
Securities [Abstract]
Schedule of Gross Unrealized or Unrecognized Gains and Losses	The gains and losses are as follows: 2023 (in thousands) Amortized Gross Gross Estimated Available-for-sale Securities Agency mortgage-backed residential $ 12,649 $ - $ 569 $ 12,080 Held-to-maturity Securities Agency mortgage-backed: residential $ 274 $ - $ 15 $ 259 2022 (in thousands) Amortized Gross Gross Estimated Available-for-sale Securities Agency mortgage-backed residential $ 10,477 $ - $ - $ 10,477 Held-to-maturity Securities Agency mortgage-backed: residential $ 339 $ 2 $ 18 $ 323

Loans (Tables)

Loans (Tables)	12 Months Ended
	Jun. 30, 2023
Loans [Abstract]
Schedule of Loan Portfolio	The composition of the loan portfolio at June 30 was as follows: (in thousands) 2023 2022 Residential real estate One- to four-family $ 240,076 $ 216,432 Multi-family 19,067 14,252 Construction 12,294 1,363 Land 470 1,062 Farm 1,346 1,338 Nonresidential real estate 30,217 31,441 Commercial and industrial 1,184 1,006 Consumer and other Loans on deposits 855 891 Home equity 9,217 7,670 Automobile 104 117 Unsecured 611 540 315,441 276,112 Allowance for loan losses (1,634 ) (1,529 ) $ 313,807 $ 274,583
Schedule of Allowance for Loan Losses and the Recorded Investment in Loans by Portfolio	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, 2023 and 2022 (in thousands) Loans Loans Ending Ending Loans individually evaluated for impairment: Residential real estate One- to four-family $ 2,833 $ 196 $ 3,029 $ - Nonresidential real estate 1,717 - 1,717 - Home Equity 267 - 267 - 4,817 196 5,013 - Loans collectivelly evaluated for impairment: Residential real estate One- to four-family $ 237,047 $ 857 Multi-family 19,067 278 Construction 12,294 41 Land 470 1 Farm 1,346 4 Nonresidential real estate 28,500 405 Commercial and industrial 1,184 24 Consumer and other Loans on deposits 855 1 Home equity 8,950 24 Automobile 104 - Unsecured 611 1 310,428 1,634 $ 315,441 $ 1,634 * These loans were evaluated at acquisition date at their estimated fair value and there has been no subsequent deterioration since acquisition. (in thousands) Loans Loans Ending Ending Loans individually evaluated for impairment: Residential real estate One- to four-family $ 3,221 $ 400 $ 3,621 $ - Multi-family 570 - 570 - Farm 270 - 270 - Nonresidential real estate 1,073 - 1,073 - Consumer and other Home equity 87 - 87 - Unsecured 5 - 5 - 5,226 400 5,626 - Loans collectivelly evaluated for impairment: Residential real estate One- to four-family $ 212,811 $ 800 Multi-family 13,682 231 Construction 1,363 4 Land 1,062 3 Farm 1,068 5 Nonresidential real estate 30,368 461 Commercial and industrial 1,006 2 Consumer and other Loans on deposits 891 1 Home equity 7,583 21 Automobile 117 - Unsecured 535 1 270,486 1,529 $ 276,112 $ 1,529
Schedule of Impaired Loans by Class of Loans	The following table presents impaired loans by class of loans as of and for the years ended June 30, 2023 and 2022: (in thousands) Unpaid Allowance Average Interest Cash Basis June 30, 2023: With no related allowance recorded: Residential real estate One- to four-family $ 3,029 $ - $ 3,325 $ 161 $ 161 Multi-family - - 285 22 22 Farm - - 135 15 15 Nonresidential real estate 1,717 - 1,395 63 63 Consumer and other Home equity 267 - 177 6 6 Unsecured - - 2 1 1 $ 5,013 $ - $ 5,319 $ 268 $ 268 June 30, 2022: With no related allowance recorded: Residential real estate One- to four-family $ 3,621 $ - $ 3,970 $ 145 $ 145 Multi-family 570 - 608 19 19 Farm 270 - 272 16 16 Nonresidential real estate 1,073 - 1,220 59 59 Consumer and other - - - Home equity 87 - 52 1 1 Unsecured 5 - 11 - - $ 5,626 $ - $ 6,133 $ 240 $ 240
Schedule of Investment in Nonaccrual and Loans Past Due	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, 2023 and 2022. June 30, 2023 June 30, 2022 (in thousands) Nonaccrual Loans Nonaccrual Loans Residential real estate One- to four-family $ 3,028 $ 365 $ 3,528 $ 287 Multi-family - - 570 - Farm - - 270 - Nonresidential real estate 1,013 - 1,073 - Commercial and industrial - - - 1 Consumer and other Home equity 267 - 87 - Unsecured - 28 3 - $ 4,308 $ 393 $ 5,531 $ 288
Schedule of Principal Balance Outstanding in Past Due Loans	The following tables present the aging of the principal balance outstanding in accruing past due loans as of June 30, 2023 and 2022, by class of loans. (in thousands) 30-89 Days Greater Total Past Loans Not Total Residential real estate One- to four-family $ 3,415 $ 1,514 $ 4,929 $ 235,147 $ 240,076 Multi-family - - - 19,067 19,067 Construction - - - 12,294 12,294 Land - - - 470 470 Farm - - - 1,346 1,346 Nonresidential real estate 662 - 662 29,555 30,217 Commercial and industrial - 28 28 1,156 1,184 Consumer and other Loans on deposits - - - 855 855 Home equity 168 267 435 8,782 9,217 Automobile - - - 104 104 Unsecured 17 - 17 594 611 $ 4,262 $ 1,809 $ 6,071 $ 309,370 $ 315,441 (in thousands) 30-89 Days Greater Total Past Loans Not Total Residential real estate One- to four-family $ 2,662 $ 1,326 $ 3,988 $ 212,444 $ 216,432 Multi-family - - - 14,252 14,252 Construction 5 - 5 1,358 1,363 Land - - - 1,062 1,062 Farm - - - 1,338 1,338 Nonresidential real estate - - - 31,441 31,441 Commercial and industrial 72 1 73 933 1,006 Consumer and other Loans on deposits - - - 891 891 Home equity 188 71 259 7,411 7,670 Automobile - - - 117 117 Unsecured - - - 540 540 $ 2,927 $ 1,398 $ 4,325 $ 271,787 $ 276,112
Schedule of the Risk Category of Loans by Class of Loans	As of June 30, 2023, and 2022, and based on the most recent analysis performed, the risk category of loans by class of loans was as follows: June 30, 2023: (in thousands) Pass Special Substandard Doubtful Residential real estate One- to four-family $ 234,765 $ 170 $ 5,141 $ - Multi-family 19,067 - - - Construction 12,294 - - - Land 470 - - - Farm 1,346 - - - Nonresidential real estate 27,816 684 1,717 - Commercial and industrial 1,184 - - - Consumer and other Loans on deposits 855 - - - Home equity 8,879 - 338 - Automobile 104 - - - Unsecured 611 - - - $ 307,391 $ 854 $ 7,196 $ - (in thousands) Pass Special Substandard Doubtful Residential real estate One- to four-family $ 210,830 $ 194 $ 5,408 $ - Multi-family 13,682 - 570 - Construction 1,363 - - - Land 1,062 - - - Farm 1,068 - 270 - Nonresidential real estate 29,666 702 1,073 - Commercial and industrial 1,006 - - - Consumer and other Loans on deposits 891 - - - Home equity 7,548 - 122 - Automobile 117 - - - Unsecured 535 - 5 - $ 267,768 $ 896 $ 7,448 $ -
Schedule of Allowance for Loan Losses by Portfolio Segment	The following tables present the activity in the allowance for loan losses by portfolio segment for the years ended June 30, 2023 and 2022: (in thousands) Beginning Provision Loans Recoveries Ending Residential real estate One- to four-family $ 800 $ 73 $ (29 ) $ 13 $ 857 Multi-family 231 47 - - 278 Construction 4 37 - - 41 Land 3 (2 ) - - 1 Farm 5 (1 ) - - 4 Nonresidential real estate 461 (64 ) - 8 405 Commercial and industrial 2 21 - - 23 Consumer and other Loans on deposits 1 - - - 1 Home equity 21 2 - - 23 Automobile - - - - Unsecured 1 - - - 1 $ 1,529 $ 113 $ (29 ) $ 21 $ 1,634 (in thousands) Beginning Provision Loans Recoveries Ending balance Residential real estate One- to four-family $ 794 $ 37 $ (31 ) $ - $ 800 Multi-family 291 (60 ) - - 231 Construction 12 (8 ) - - 4 Land 3 - - - 3 Farm 5 - - - 5 Nonresidential real estate 494 (33 ) - - 461 Commercial and industrial 5 (3 ) - - 2 Consumer and other Loans on deposits 2 (1 ) - - 1 Home equity 15 6 - - 21 Automobile - - - - - Unsecured 1 2 (4 ) 2 1 $ 1,622 $ (60 ) $ (35 ) $ 2 $ 1,529
Scheduled of Purchased Loans	The carrying amount of those loans, net of a purchase credit discount of $88,000 and $88,000, at June 30, 2023 and 2022, respectively, was as follows: (in thousands) 2023 2022 Residential real estate One- to four-family $ 196 $ 400
Schedule of Accretable Yield, or Income Expected to be Collected	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) 2023 2022 Balance at beginning of year $ 339 $ 390 Accretion of income (45 ) (51 ) Balance at end of year $ 294 $ 339

Real Estate Owned (Tables)

Real Estate Owned (Tables)	12 Months Ended
	Jun. 30, 2023
Real Estate Owned [Abstract]
Schedule of aActivity in Real Estate Owned	Activity in real estate owned for the years ended June 30 was as follows: (in thousands) 2023 2022 Balance at beginning of year $ 10 $ 82 Loans transferred to real estate owned 60 45 Capitalized expenditures - - Valuation adjustments - - Disposals - (117 ) Balance at end of year $ 70 $ 10

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Jun. 30, 2023
Premises and Equipment [Abstract]
Schedule of Premises and Equipment	Premises and equipment at June 30 are comprised of the following: (in thousands) 2023 2022 Land $ 1,516 $ 1,516 Buildings and improvements 6,768 6,654 Furniture & equipment 2,220 2,206 10,504 10,376 Less: accumulated depreciation 6,069 5,813 Balance at end of year $ 4,435 $ 4,563

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Jun. 30, 2023
Deposits [Abstract]
Schedule of Deposits	Deposits consist of the following major classifications at June 30: (in thousands) 2023 2022 Non-interest bearing checking accounts $ 12,333 $ 15,726 Checking accounts 19,068 23,902 Savings Accounts 49,477 62,649 Money market demand deposits 8,116 12,875 Total demand, transaction and passbook deposits 88,994 115,152 Certificates of deposit 137,315 124,705 Total deposits $ 226,309 $ 239,857
Schedule of Maturities of Outstanding Certificates of Deposit	Maturities of outstanding certificates of deposit at June 30 are summarized as follows: (in thousands) 2023 2024 $ 119,479 2025 13,081 2026 1,868 2027 1,167 2028 and thereafter 1,720 $ 137,315

Advances from the Federal Hom_2

Advances from the Federal Home Loan Bank (Tables)	12 Months Ended
	Jun. 30, 2023
Federal Home Loan Banks [Abstract]
Schedule of Advances from the Federal Home Loan Bank	Advances from the Federal Home Loan Bank, collateralized at June 30, 2023 and 2022 by pledges of collateral composed of first mortgage residential and multi-family loans totaling $157.3 million and $167.8 million, respectively, and the Banks’ investment in Federal Home Loan Bank stock, are summarized as follows: (in thousands) 2023 2023 $ 66,360 2024 3,643 2025 31 2026 22 2027 16 2028 11 2029 4 2030-2033 - $ 70,087

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2023
Income Taxes [Abstract]
Schedule of Statutory Corporate Tax Rate	Federal income taxes on earnings differs from that computed at the statutory corporate tax rate for the years ended June 30, 2023 and 2022, as follows: (in thousands) 2023 2022 Income taxes at the statutory rate $ 258 $ 434 Increase (decrease) resulting from: Cash surrender value of life insurance (17 ) (16 ) State income taxes 55 130 Other (2 ) (71 ) $ 294 $ 477
Schedule of Deferred Tax Liability	The composition of the Company’s net deferred tax liability at June 30 is as follows: (in thousands) 2023 2022 Taxes (payable) refundable on temporary differences at estimated corporate tax rate: Deferred tax assets: General loan loss allowance $ 408 $ 381 Accrued expenses 44 72 Fair value accounting adjustments at acquisition 95 107 Nonaccrued interest on loans 103 107 Unrealized loss on available-for-sale securities 142 - Depreciation 68 73 State net operating loss carryforward 64 121 Total deferred tax assets 924 861 Deferred tax liabilities: Federal Home Loan Bank stock dividends (606 ) (981 ) Deferred loan origination costs (68 ) (36 ) Loan servicing rights (43 ) (46 ) Accrual to cash adjustment (185 ) (152 ) Fair value accounting adjustments on acquisition (535 ) (535 ) Total deferred tax liabilities (1,437 ) (1,750 ) Net deferred tax liability $ (513 ) $ (889 )

Loan Commitments (Tables)

Loan Commitments (Tables)	12 Months Ended
	Jun. 30, 2023
Loan Commitments [Abstract]
Schedule of Outstanding Loan Commitments	At June 30, 2023 and 2022, the Banks had the following outstanding loan commitments: 2023 2022 (in thousands) Fixed Variable Fixed Variable Unused commitment: Revolving, open-end lines secured by real estate $ - $ 13,372 $ - $ 11,961 Commitments to fund real estate construction loans - 8,919 - 1,315 Other unused commitments: Commercial and industrial loans 84 668 18 65 Other 562 5,010 667 3,966 Letters of credit - 626 - -

Stockholders' Equity and Regu_2

Stockholders' Equity and Regulatory Capital (Tables)	12 Months Ended
	Jun. 30, 2023
Stockholders’ Equity and Regulatory Capital [Abstract]
Schedule of Company’s and Banks Regulatory Capital	The Company’s and Banks’ regulatory capital as of June 30, 2023 and 2022 is presented in the following table. Actual For Capital Adequacy (Dollars in thousands) Amount Ratio Amount Ratio Community Bank Leverage Ratio: June 30, 2023 Kentucky First Federal Bancorp $ 50,190 15.0 % $ 30,075 9.0 % First Federal Savings and Loan Association of Hazard $ 18,220 20.4 % $ 8,034 9.0 % First Federal Savings Bank of Kentucky $ 29,880 11.7 % $ 23,050 9.0 % June 30, 2022 Kentucky First Federal Bancorp $ 51,078 15.2 % $ 30,232 9.0 % First Federal Savings and Loan Association of Hazard $ 18,430 22.0 % $ 7,525 9.0 % First Federal Savings Bank of Kentucky $ 30,093 12.0 % $ 22,584 9.0 %

Condensed Financial Statement_2

Condensed Financial Statements of Kentucky First Federal Bancorp (Tables)	12 Months Ended
	Jun. 30, 2023
Condensed Financial Information Disclosure [Abstract]
Schedule of Balance Sheets	The following condensed financial statements summarize the financial position of Kentucky First Federal Bancorp as of June 30, 2023 and 2022, and the results of its operations and its cash flows for the fiscal years ended June 30, 2023 and 2022. (in thousands) 2023 2022 ASSETS Interest-bearing deposits in First Federal of Hazard $ 473 $ 1,185 Interest-bearing deposits in First Federal of Kentucky 657 703 Other interest-bearing deposits - 9 Investment in First Federal of Hazard 18,035 18,433 Investment in Frankfort First 30,610 31,139 Prepaid expenses and other assets 988 602 Total assets $ 50,763 $ 52,071 LIABILITIES AND SHAREHOLDERS’ EQUITY Accounts payable and other liabilities $ 52 $ 46 52 46 Shareholders’ equity 50,711 52,025 Total liabilities and shareholders’ equity $ 50,763 $ 52,071
Schedule of Statements of Income	(in thousands) 2023 2022 Income Interest income $ 4 $ 14 Non-interest income - - Dividends from First Federal of Hazard 935 846 Equity in undistributed (excess distributed) earnings of First Federal of Hazard (218 ) 32 Dividends from Frankfort First 681 1,480 Equity in undistributed (excess distributed) earnings of Frankfort First (267 ) (475 ) Total income 1,135 1,897 Non-interest expenses 382 384 Earnings before income taxes 753 1,513 Income tax expense (benefit) (180 ) (77 ) Net income (loss) 933 1,590 Other comprehensive (loss) income, net of tax-related effects: Unrealized holding losses on securities designated as available-for-sale during the year, net (427 ) - $ 506 $ 1,590
Schedule of Statements of Cash Flows	(in thousands) 2023 2022 Cash flows from operating activities: Net earnings for the year $ 933 $ 1,590 Adjustments to reconcile net earnings to net cash provided by operating activities: Excess (deficit) distributions over earnings (undistributed earnings from consolidated subsidiaries 485 443 Noncash compensation expense 4 73 Increase (decrease) in cash due to changes in: Prepaid expenses and other assets (371 ) (106 ) Other liabilities 6 (181 ) Net cash provided by operating activities 1,057 1,819 Cash flows from financing activities: Treasury stock purchases (461 ) (540 ) Dividends paid on common stock (1,363 ) (1,394 ) Net cash used in financing activities (1,824 ) (1,934 ) Net increase (decrease) in cash and cash equivalents (767 ) (115 ) Cash and cash equivalents at beginning of year 1,897 2,012 Cash and cash equivalents at end of year $ 1,130 $ 1,897

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jul. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021	Jul. 01, 2021	Mar. 31, 2005
Summary of Significant Accounting Policies (Details) [Line Items]
Loan held for sale		$ 152,000	$ 0
Amortization of mortgage servicing rights		14,000	20,000
Total liabilities		174,000	186,000
Servicing mortgage loans		21,700,000	23,200,000
Servicing fees		$ 42,000	42,000
Mortgage Loan Fixed Term		30 years
Private mortgage insurance, percentage		95%
Other programs offered bank, percentage		90%
Appraised value, percentage		80%
Term loan		25 years
Nonresidential loan, percentage		80%
Equity loans percentage		90%
Loans secured		90%
Fixed assets held for sale			161,000
Property was sold	$ 180,000
Tax benefit, percentage		50%
Total contribution			142,400,000	$ 248,600,000
Company expense		$ 353,000	375,000
Funding target percentage					87.14%
Deferred compensation		0	4,000
Repayment of loan			14,000
Employee stock ownership plan expense		$ 4,000	$ 73,000
Total shares surrendered plan (in Shares)		226,313	218,894
Amount of contributed		$ 14,000	$ 280,000
Goodwill amount						$ 14,500,000
Carrying value of goodwill			947,000	$ 947,000
Allowance for loan		500,000	900,000
Mortgage Servicing Rights [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Fair value		$ 262,000	186,000
Loans One to Four Family [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Rental properties, percentage		80%
Related Party [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Deposits from related parties		$ 5,100,000	$ 5,300,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Contributed to ESOP - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule of Contributed to ESOP [Abstract]
Allocated shares	110,660	117,065
Shares committed to be released		463
Unearned shares		461
Total ESOP shares	110,660	117,989
Fair value of unearned shares at end of period (in Dollars)		$ 4,000

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, 2023	Jun. 30, 2022
Schedule of Earnings Per Share [Abstract]
Net income allocated to common shareholders, basic and diluted	$ 933,000	$ 1,590,000
EARNINGS PER SHARE	$ 0.11	$ 0.19
Weighted average common shares outstanding, basic and diluted	8,131,568	8,213,407

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of Earnings Per Share (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule of Earnings Per Share [Abstract]
Net income (loss) allocated to common shareholders, diluted	$ 933,000	$ 1,590,000
Weighted average common shares outstanding, diluted	8,131,568	8,213,407

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details) - Schedule of Fair Value Measurements of Assets and Liabilities - Agency mortgage-backed: residential [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Fair Value	$ 12,080	$ 10,477
Quotes Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value
Significant Other Observable Inputs (Level 2) [Member]
Fair Value	12,080	10,477
Significant Unobservable Inputs (Level 3) [Member]
Fair Value

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details) - Schedule of Financial Instruments - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Financial assets
Cash and cash equivalents	$ 8,167	$ 25,823
Available-for-sale securities	12,080	10,477
Held-to-maturity securities	259	323
Loans held for sale		153
Loans receivable - net	293,530	271,994
Federal Home Loan Bank stock
Accrued interest receivable	902	649
Financial liabilities
Deposits	225,571	239,834
Federal Home Loan Bank advances	69,863	33,688
Advances by borrowers for taxes and insurance	793	766
Accrued interest payable	70	12
Carrying value [Member]
Financial assets
Cash and cash equivalents	8,167	25,823
Available-for-sale securities	12,080	10,477
Held-to-maturity securities	274	339
Loans held for sale		152
Loans receivable - net	313,807	274,583
Federal Home Loan Bank stock	4,623	6,498
Accrued interest receivable	902	649
Financial liabilities
Deposits	226,309	239,857
Federal Home Loan Bank advances	70,087	34,066
Advances by borrowers for taxes and insurance	793	766
Accrued interest payable	70	12
Level 1 [Member]
Financial assets
Cash and cash equivalents	8,167	25,823
Available-for-sale securities
Held-to-maturity securities
Loans receivable - net
Federal Home Loan Bank stock
Accrued interest receivable
Financial liabilities
Deposits	88,994	115,152
Federal Home Loan Bank advances
Advances by borrowers for taxes and insurance
Accrued interest payable
Level 2 [Member]
Financial assets
Cash and cash equivalents
Available-for-sale securities	12,080	10,477
Held-to-maturity securities	259	323
Loans held for sale		153
Loans receivable - net
Federal Home Loan Bank stock
Accrued interest receivable	902	649
Financial liabilities
Deposits	136,577	124,682
Federal Home Loan Bank advances	69,863	33,688
Advances by borrowers for taxes and insurance	793	766
Accrued interest payable	70	12
Level 3 [Member]
Financial assets
Cash and cash equivalents
Available-for-sale securities
Held-to-maturity securities
Loans receivable - net	293,530	271,994
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 Accoun_9

Summary of Significant Accounting Policies (Details) - Schedule of Loans Outstanding - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule of Loans Outstanding [Abstract]
Outstanding principal, beginning of year	$ 688	$ 1,405
Changes in composition of related parties
Principal disbursed during the year
Principal repaid and refinanced during the year	(208)	(717)
Outstanding principal, end of year	$ 480	$ 688

Securities (Details)

Securities (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Securities [Abstract]
Mortgage-backed securities	$ 12,080,000
Unrealized losses	569,000	$ 15,000
Held-to-maturity mortgage-backed securities	274,000	40,000
Held-to-maturity mortgage-backed securities	$ 15,000	202,000
Unrealized losses		$ 3,000
Unrealized loss percentage	100%	2.40%
Pledged securities	$ 5,900,000	$ 1,700,000
Time deposits	$ 1,500,000	$ 1,500,000

Securities (Details) - Schedule

Securities (Details) - Schedule of Gross Unrealized or Unrecognized Gains and Losses - Agency mortgage-backed: residential [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Available-for-sale Securities
Available-for-sale Securities, Amortized cost	$ 12,649	$ 10,477
Available-for-sale Securities, Gross unrealized/ gains
Available-for-sale Securities, Gross unrealized/ losses	569
Available-for-sale Securities, Estimated fair value	12,080	10,477
Held-to-maturity Securities
Held-to-maturity Securities, Amortized cost	274	339
Held-to-maturity Securities, Gross unrealized/ gains		2
Held-to-maturity Securities, Gross unrealized/ losses	15	18
Held-to-maturity Securities, Estimated fair value	$ 259	$ 323

Loans (Details)

Loans (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Loans (Details) [Line Items]
Net deferred loan fees	$ 330,000	$ 290,000
Loans acquired credit quality	$ 196,000	$ 400,000
Investment nonaccrual loans past due term days	90 days	90 days
Nonaccrual loan total	$ 4,308,000	$ 5,531,000
Loans borrowing, description	the year ended June 30, 2023 and 2022, the Company had no loans restructured as TDRs.
Loan amount past due description	At June 30, 2023, the table below includes $68,000 in loans 30-89 days past due and approximately $58,000 of loans past due over 90 days that were acquired with deteriorated credit quality, while at June 30, 2022, the table below includes $161,000 in loans 30-89 days past due and approximately $15,000 of loans past due over 90 days of such loans.
Purchase credit discount	$ 88,000	$ 88,000
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	$ 197,000	$ 301,000
Troubled Debt Restructuring [Member]
Loans (Details) [Line Items]
Nonaccrual loan total	430,000	1,400,000
Loan amount	$ 464,000	1,400,000
Troubled debt borrowing description	Of the TDRs at June 30, 2023, approximately 40.3% 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	$ 766,000	$ 489,000

Loans (Details) - Schedule of L

Loans (Details) - Schedule of Loan Portfolio - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Residential real estate
One- to four-family	$ 240,076	$ 216,432
Multi-family	19,067	14,252
Construction	12,294	1,363
Land	470	1,062
Farm	1,346	1,338
Nonresidential real estate	30,217	31,441
Commercial and industrial	1,184	1,006
Consumer and other
Loans on deposits	855	891
Home equity	9,217	7,670
Automobile	104	117
Unsecured	611	540
Loans receivable, gross	315,441	276,112
Allowance for loan losses	(1,634)	(1,529)
Loans receivable, net	$ 313,807	$ 274,583

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, 2023		Jun. 30, 2022
Total [Member]
Residential real estate
Ending loans balance		$ 315,441
Ending allowance attributed to loans	[1]	1,634
One- to four-family [Member] | Loans individually evaluated for impairment [Member]
Residential real estate
Loans individually evaluated		2,833		$ 3,221
Loans acquired with deteriorated credit quality	[1]	196		400
Ending loans balance		3,029		3,621
Ending allowance attributed to loans			[1]
One- to four-family [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance		237,047		212,811
Ending allowance attributed to loans		857	[1]	800
Nonresidential real estate [Member] | Loans individually evaluated for impairment [Member]
Residential real estate
Loans individually evaluated		1,717		1,073
Loans acquired with deteriorated credit quality	[1]
Ending loans balance		1,717		1,073
Ending allowance attributed to loans			[1]
Nonresidential real estate [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance		28,500		30,368
Ending allowance attributed to loans		405	[1]	461
Home equity [Member] | Loans individually evaluated for impairment [Member]
Residential real estate
Loans individually evaluated		267
Loans acquired with deteriorated credit quality	[1]
Ending loans balance		267
Ending allowance attributed to loans	[1]
Home equity [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance		8,950		7,583
Ending allowance attributed to loans		24	[1]	21
Home equity [Member] | Nonresidential real estate [Member]
Residential real estate
Loans individually evaluated				87
Loans acquired with deteriorated credit quality	[1]
Ending loans balance				87
Ending allowance attributed to loans
Total [Member]
Residential real estate
Loans individually evaluated		4,817
Loans acquired with deteriorated credit quality	[1]	196
Ending loans balance		5,013
Ending allowance attributed to loans	[1]
Total [Member] | Loans individually evaluated for impairment [Member]
Residential real estate
Loans individually evaluated				5,226
Loans acquired with deteriorated credit quality	[1]			400
Ending loans balance				5,626
Ending allowance attributed to loans
Total [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance				276,112
Ending allowance attributed to loans				1,529
Multi-family [Member] | Loans individually evaluated for impairment [Member]
Residential real estate
Loans individually evaluated				570
Loans acquired with deteriorated credit quality	[1]
Ending loans balance				570
Ending allowance attributed to loans
Multi-family [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance		19,067		13,682
Ending allowance attributed to loans		278	[1]	231
Construction [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance		12,294		1,363
Ending allowance attributed to loans		41	[1]	4
Land [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance		470		1,062
Ending allowance attributed to loans		1	[1]	3
Farm [Member] | Loans individually evaluated for impairment [Member]
Residential real estate
Loans individually evaluated				270
Loans acquired with deteriorated credit quality	[1]
Ending loans balance				270
Ending allowance attributed to loans
Farm [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance		1,346		1,068
Ending allowance attributed to loans		4	[1]	5
Commercial and industrial [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance		1,184		1,006
Ending allowance attributed to loans		24	[1]	2
Loans on deposits [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance		855		891
Ending allowance attributed to loans		1	[1]	1
Automobile [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance		104		117
Ending allowance attributed to loans			[1]
Unsecured [Member] | Loans individually evaluated for impairment [Member]
Residential real estate
Loans individually evaluated				5
Loans acquired with deteriorated credit quality	[1]
Ending loans balance				5
Ending allowance attributed to loans
Unsecured [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance		611		535
Ending allowance attributed to loans		1	[1]	1
Consumer and other [Member] | Loans collectivelly evaluated for impairment [Member]
Residential real estate
Ending loans balance		310,428		270,486
Ending allowance attributed to loans		$ 1,634	[1]	$ 1,529
[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, 2023	Jun. 30, 2022
Residential real estate
Unpaid Principal Balance and Recorded Investment	$ 5,013	$ 5,626
Allowance for Loan Losses Allocated
Average Recorded Investment	5,319	6,133
Interest Income Recognized	268	240
Cash Basis Income Recognized	268	240
One- to four-family [Member]
Residential real estate
Unpaid Principal Balance and Recorded Investment	3,029	3,621
Allowance for Loan Losses Allocated
Average Recorded Investment	3,325	3,970
Interest Income Recognized	161	145
Cash Basis Income Recognized	161	145
Multi-family [Member]
Residential real estate
Unpaid Principal Balance and Recorded Investment		570
Allowance for Loan Losses Allocated
Average Recorded Investment	285	608
Interest Income Recognized	22	19
Cash Basis Income Recognized	22	19
Farm [Member]
Residential real estate
Unpaid Principal Balance and Recorded Investment		270
Allowance for Loan Losses Allocated
Average Recorded Investment	135	272
Interest Income Recognized	15	16
Cash Basis Income Recognized	15	16
Nonresidential real estate [Member]
Residential real estate
Unpaid Principal Balance and Recorded Investment	1,717	1,073
Allowance for Loan Losses Allocated
Average Recorded Investment	1,395	1,220
Interest Income Recognized	63	59
Cash Basis Income Recognized	63	59
Home equity [Member]
Residential real estate
Unpaid Principal Balance and Recorded Investment	267	87
Allowance for Loan Losses Allocated
Average Recorded Investment	177	52
Interest Income Recognized	6	1
Cash Basis Income Recognized	6	1
Unsecured [Member]
Residential real estate
Unpaid Principal Balance and Recorded Investment		5
Allowance for Loan Losses Allocated
Average Recorded Investment	2	11
Interest Income Recognized	1
Cash Basis Income Recognized	$ 1

Loans (Details) - Schedule of_2

Loans (Details) - Schedule of Investment in Nonaccrual and Loans Past Due - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Residential real estate
Nonaccrual	$ 4,308	$ 5,531
Loans Past Due Over 90 Days Still Accruing	393	288
One- to four-family [Member]
Residential real estate
Nonaccrual	3,028	3,528
Loans Past Due Over 90 Days Still Accruing	365	287
Multi-family [Member]
Residential real estate
Nonaccrual		570
Loans Past Due Over 90 Days Still Accruing
Farm [Member]
Residential real estate
Nonaccrual		270
Loans Past Due Over 90 Days Still Accruing
Nonresidential real estate [Member]
Residential real estate
Nonaccrual	1,013	1,073
Loans Past Due Over 90 Days Still Accruing
Commercial and industrial [Member]
Residential real estate
Nonaccrual
Loans Past Due Over 90 Days Still Accruing		1
Home equity [Member]
Residential real estate
Nonaccrual	267	87
Loans Past Due Over 90 Days Still Accruing
Unsecured [Member]
Residential real estate
Nonaccrual		3
Loans Past Due Over 90 Days Still Accruing	$ 28

Loans (Details) - Schedule of P

Loans (Details) - Schedule of Principal Balance Outstanding in Past Due Loans - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Residential real estate
Total Past Due	$ 6,071	$ 4,325
Loans Not Past Due	309,370	271,787
Total	315,441	276,112
30-89 Days Past Due [Member]
Residential real estate
Total Past Due	4,262	2,927
Greater than 90 Days Past Due [Member]
Residential real estate
Total Past Due	1,809	1,398
One-to four-family [Member]
Residential real estate
Total Past Due	4,929	3,988
Loans Not Past Due	235,147	212,444
Total	240,076	216,432
One-to four-family [Member] | 30-89 Days Past Due [Member]
Residential real estate
Total Past Due	3,415	2,662
One-to four-family [Member] | Greater than 90 Days Past Due [Member]
Residential real estate
Total Past Due	1,514	1,326
Multi-family [Member]
Residential real estate
Total Past Due
Loans Not Past Due	19,067	14,252
Total	19,067	14,252
Multi-family [Member] | 30-89 Days Past Due [Member]
Residential real estate
Total Past Due
Multi-family [Member] | Greater than 90 Days Past Due [Member]
Residential real estate
Total Past Due
Construction [Member]
Residential real estate
Total Past Due		5
Loans Not Past Due	12,294	1,358
Total	12,294	1,363
Construction [Member] | 30-89 Days Past Due [Member]
Residential real estate
Total Past Due		5
Construction [Member] | Greater than 90 Days Past Due [Member]
Residential real estate
Total Past Due
Land [Member]
Residential real estate
Total Past Due
Loans Not Past Due	470	1,062
Total	470	1,062
Land [Member] | 30-89 Days Past Due [Member]
Residential real estate
Total Past Due
Land [Member] | Greater than 90 Days Past Due [Member]
Residential real estate
Total Past Due
Farm [Member]
Residential real estate
Total Past Due
Loans Not Past Due	1,346	1,338
Total	1,346	1,338
Farm [Member] | 30-89 Days Past Due [Member]
Residential real estate
Total Past Due
Farm [Member] | Greater than 90 Days Past Due [Member]
Residential real estate
Total Past Due
Nonresidential real estate [Member]
Residential real estate
Total Past Due	662
Loans Not Past Due	29,555	31,441
Total	30,217	31,441
Nonresidential real estate [Member] | 30-89 Days Past Due [Member]
Residential real estate
Total Past Due	662
Nonresidential real estate [Member] | Greater than 90 Days Past Due [Member]
Residential real estate
Total Past Due
Commercial and industrial [Member]
Residential real estate
Total Past Due	28	73
Loans Not Past Due	1,156	933
Total	1,184	1,006
Commercial and industrial [Member] | 30-89 Days Past Due [Member]
Residential real estate
Total Past Due		72
Commercial and industrial [Member] | Greater than 90 Days Past Due [Member]
Residential real estate
Total Past Due	28	1
Loans on deposits [Member]
Residential real estate
Total Past Due
Loans Not Past Due	855	891
Total	855	891
Loans on deposits [Member] | 30-89 Days Past Due [Member]
Residential real estate
Total Past Due
Loans on deposits [Member] | Greater than 90 Days Past Due [Member]
Residential real estate
Total Past Due
Home equity [Member]
Residential real estate
Total Past Due	435	259
Loans Not Past Due	8,782	7,411
Total	9,217	7,670
Home equity [Member] | 30-89 Days Past Due [Member]
Residential real estate
Total Past Due	168	188
Home equity [Member] | Greater than 90 Days Past Due [Member]
Residential real estate
Total Past Due	267	71
Unsecured [Member]
Residential real estate
Total Past Due	17
Loans Not Past Due	594	540
Total	611	540
Unsecured [Member] | 30-89 Days Past Due [Member]
Residential real estate
Total Past Due	17
Unsecured [Member] | Greater than 90 Days Past Due [Member]
Residential real estate
Total Past Due
Automobile [Member]
Residential real estate
Total Past Due
Loans Not Past Due	104	117
Total	104	117
Automobile [Member] | 30-89 Days Past Due [Member]
Residential real estate
Total Past Due
Automobile [Member] | Greater than 90 Days Past Due [Member]
Residential real estate
Total Past Due

Loans (Details) - Schedule of t

Loans (Details) - Schedule of the Risk Category of Loans by Class of Loans - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Pass [Member]
Residential real estate
Loans receivable, gross	$ 307,391	$ 267,768
Special Mention [Member]
Residential real estate
Loans receivable, gross	854	896
Substandard [Member]
Residential real estate
Loans receivable, gross	7,196	7,448
Doubtful [Member]
Residential real estate
Loans receivable, gross
One- to four-family [Member] | Pass [Member]
Residential real estate
Loans receivable, gross	234,765	210,830
One- to four-family [Member] | Special Mention [Member]
Residential real estate
Loans receivable, gross	170	194
One- to four-family [Member] | Substandard [Member]
Residential real estate
Loans receivable, gross	5,141	5,408
One- to four-family [Member] | Doubtful [Member]
Residential real estate
Loans receivable, gross
Multi-family [Member] | Pass [Member]
Residential real estate
Loans receivable, gross	19,067	13,682
Multi-family [Member] | Special Mention [Member]
Residential real estate
Loans receivable, gross
Multi-family [Member] | Substandard [Member]
Residential real estate
Loans receivable, gross		570
Multi-family [Member] | Doubtful [Member]
Residential real estate
Loans receivable, gross
Construction [Member] | Pass [Member]
Residential real estate
Loans receivable, gross	12,294	1,363
Construction [Member] | Special Mention [Member]
Residential real estate
Loans receivable, gross
Construction [Member] | Substandard [Member]
Residential real estate
Loans receivable, gross
Construction [Member] | Doubtful [Member]
Residential real estate
Loans receivable, gross
Land [Member] | Pass [Member]
Residential real estate
Loans receivable, gross	470	1,062
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	27,816	29,666
Nonresidential real estate [Member] | Special Mention [Member]
Residential real estate
Loans receivable, gross	684	702
Nonresidential real estate [Member] | Substandard [Member]
Residential real estate
Loans receivable, gross	1,717	1,073
Nonresidential real estate [Member] | Doubtful [Member]
Residential real estate
Loans receivable, gross
Commercial and industrial [Member] | Pass [Member]
Residential real estate
Loans receivable, gross	1,184	1,006
Commercial and industrial [Member] | Special Mention [Member]
Residential real estate
Loans receivable, gross
Commercial and industrial [Member] | Substandard [Member]
Residential real estate
Loans receivable, gross
Commercial and industrial [Member] | Doubtful [Member]
Residential real estate
Loans receivable, gross
Farm [Member] | Pass [Member]
Residential real estate
Loans receivable, gross		1,068
Farm [Member] | Special Mention [Member]
Residential real estate
Loans receivable, gross
Farm [Member] | Substandard [Member]
Residential real estate
Loans receivable, gross		270
Farm [Member] | Doubtful [Member]
Residential real estate
Loans receivable, gross
Farm [Member] | Pass [Member]
Residential real estate
Loans receivable, gross	1,346
Farm [Member] | Special Mention [Member]
Residential real estate
Loans receivable, gross
Farm [Member] | Substandard [Member]
Residential real estate
Loans receivable, gross
Farm [Member] | Doubtful [Member]
Residential real estate
Loans receivable, gross
Loans on deposits [Member] | Pass [Member]
Residential real estate
Loans receivable, gross	855	891
Loans on deposits [Member] | Special Mention [Member]
Residential real estate
Loans receivable, gross
Loans on deposits [Member] | Substandard [Member]
Residential real estate
Loans receivable, gross
Loans on deposits [Member] | Doubtful [Member]
Residential real estate
Loans receivable, gross
Home equity [Member] | Pass [Member]
Residential real estate
Loans receivable, gross	8,879	7,548
Home equity [Member] | Special Mention [Member]
Residential real estate
Loans receivable, gross
Home equity [Member] | Substandard [Member]
Residential real estate
Loans receivable, gross	338	122
Home equity [Member] | Doubtful [Member]
Residential real estate
Loans receivable, gross
Automobile [Member] | Pass [Member]
Residential real estate
Loans receivable, gross	104	117
Automobile [Member] | Special Mention [Member]
Residential real estate
Loans receivable, gross
Automobile [Member] | Substandard [Member]
Residential real estate
Loans receivable, gross
Automobile [Member] | Doubtful [Member]
Residential real estate
Loans receivable, gross
Unsecured [Member] | Pass [Member]
Residential real estate
Loans receivable, gross	611	535
Unsecured [Member] | Special Mention [Member]
Residential real estate
Loans receivable, gross
Unsecured [Member] | Substandard [Member]
Residential real estate
Loans receivable, gross		5
Unsecured [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, 2023	Jun. 30, 2022
One- to four-family [Member]
Residential real estate
Beginning balance	$ 800	$ 794
Provision (credit) for loan losses	73	37
Loans charged off	(29)	(31)
Recoveries	13
Ending balance	857	800
Multi-family [Member]
Residential real estate
Beginning balance	231	291
Provision (credit) for loan losses	47	(60)
Loans charged off
Recoveries
Ending balance	278	231
Construction [Member]
Residential real estate
Beginning balance	4	12
Provision (credit) for loan losses	37	(8)
Loans charged off
Recoveries
Ending balance	41	4
Land [Member]
Residential real estate
Beginning balance	3	3
Provision (credit) for loan losses	(2)
Loans charged off
Recoveries
Ending balance	1	3
Farm [Member]
Residential real estate
Beginning balance	5	5
Provision (credit) for loan losses	(1)
Loans charged off
Recoveries
Ending balance	4	5
Nonresidential real estate [Member]
Residential real estate
Beginning balance	461	494
Provision (credit) for loan losses	(64)	(33)
Loans charged off
Recoveries	8
Ending balance	405	461
Commercial and industrial [Member]
Residential real estate
Beginning balance	2	5
Provision (credit) for loan losses	21	(3)
Loans charged off
Recoveries
Ending balance	23	2
Loans on deposits [Member]
Residential real estate
Beginning balance	1	2
Provision (credit) for loan losses		(1)
Loans charged off
Recoveries
Ending balance	1	1
Home equity [Member]
Residential real estate
Beginning balance	21	15
Provision (credit) for loan losses	2	6
Loans charged off
Recoveries
Ending balance	23	21
Automobile [Member]
Residential real estate
Beginning balance
Provision (credit) for loan losses
Loans charged off
Recoveries
Ending balance
Unsecured [Member]
Residential real estate
Beginning balance	1	1
Provision (credit) for loan losses		2
Loans charged off		(4)
Recoveries		2
Ending balance	1	1
Total [Member]
Residential real estate
Beginning balance	1,529	1,622
Provision (credit) for loan losses	113	(60)
Loans charged off	(29)	(35)
Recoveries	21	2
Ending balance	$ 1,634	$ 1,529

Loans (Details) - Scheduled of

Loans (Details) - Scheduled of Purchased Loans - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Residential real estate
One- to four-family	$ 196	$ 400

Loans (Details) - Schedule of_4

Loans (Details) - Schedule of Accretable Yield, or Income Expected to be Collected - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule Of Accretable Yield Or Income Expected To Be Collected Abstract
Balance at beginning of year	$ 339	$ 390
Accretion of income	(45)	(51)
Balance at end of year	$ 294	$ 339

Real Estate Owned (Details) - S

Real Estate Owned (Details) - Schedule of Activity in Real Estate Owned - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule of Activity in Real Estate Owned [Abstract]
Balance at beginning of year	$ 10	$ 82
Loans transferred to real estate owned	60	45
Capitalized expenditures
Valuation adjustments
Disposals		(117)
Balance at end of year	$ 70	$ 10

Premises and Equipment (Details

Premises and Equipment (Details) - Schedule of Premises and Equipment - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Schedule of Premises and Equipment [Abstract]
Land	$ 1,516	$ 1,516
Buildings and improvements	6,768	6,654
Furniture & equipment	2,220	2,206
Property and Equipment	10,504	10,376
Less: accumulated depreciation	6,069	5,813
Balance at end of year	$ 4,435	$ 4,563

Goodwill (Details)

Goodwill (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2005
Goodwill [Abstract]
Goodwill amount			$ 14,500,000
Goodwill net amount	$ 947,000
Goodwill impairment losses	13,600,000	$ 13,600,000
Goodwill impairment charge	$ 13,600,000

Deposits (Details)

Deposits (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Deposits [Abstract]
Certificate of deposit	$ 250,000
Deposit totaling	14,700,000	$ 13,100,000
Brokered certificates of deposit	$ 21,000,000

Deposits (Details) - Schedule o

Deposits (Details) - Schedule of Deposits - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Schedule of Deposits [Abstract]
Non-interest bearing checking accounts	$ 12,333	$ 15,726
Checking accounts	19,068	23,902
Savings Accounts	49,477	62,649
Money market demand deposits	8,116	12,875
Total demand, transaction and passbook deposits	88,994	115,152
Certificates of deposit	137,315	124,705
Total deposits	$ 226,309	$ 239,857

Deposits (Details) - Schedule_2

Deposits (Details) - Schedule of Maturities of Outstanding Certificates of Deposit $ in Thousands	Jun. 30, 2023 USD ($)
Schedule of Maturities of Outstanding Certificates of Deposit [Abstract]
2024	$ 119,479
2025	13,081
2026	1,868
2027	1,167
2028 and thereafter	1,720
Total	$ 137,315

Advances from the Federal Hom_3

Advances from the Federal Home Loan Bank (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Advances from the Federal Home Loan Bank (Details) [Line Items]
Eligible to borrow	$ 87.3
Home equity loans	5.6
Fed funds line of credit amount	2
Mortgage residential [Member]
Advances from the Federal Home Loan Bank (Details) [Line Items]
Mortgage loan total amount	$ 157.3	$ 167.8
Minimum [Member]
Advances from the Federal Home Loan Bank (Details) [Line Items]
Interest rates for advances fixed range	1.64%
Maximum [Member]
Advances from the Federal Home Loan Bank (Details) [Line Items]
Interest rates for advances fixed range	5.27%
Weighted Average [Member]
Advances from the Federal Home Loan Bank (Details) [Line Items]
Weighted-average interest rate	4.85%

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, 2023 USD ($)
Schedule of Advances from the Federal Home Loan Bank [Abstract]
2023	$ 66,360
2024	3,643
2025	31
2026	22
2027	16
2028	11
2029	4
2030-2033
Advances from the Federal Home Loan Bank	$ 70,087

Income Taxes (Details)

Income Taxes (Details) $ in Millions	12 Months Ended
	Jun. 30, 2023 USD ($)
Income Taxes [Abstract]
Operating loss carryforward	$ 1.6
Generally limited percentage	8%
Federal income taxes	$ 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 Statutory Corporate Tax Rate - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule of Statutory Corporate Tax Rate [Abstract]
Income taxes at the statutory rate	$ 258	$ 434
Increase (decrease) resulting from:
Cash surrender value of life insurance	(17)	(16)
State income taxes	55	130
Other	(2)	(71)
Total income taxes	$ 294	$ 477

Income Taxes (Details) - Sche_2

Income Taxes (Details) - Schedule of Deferred Tax Liability - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Deferred tax assets:
General loan loss allowance	$ 408	$ 381
Accrued expenses	44	72
Fair value accounting adjustments at acquisition	95	107
Nonaccrued interest on loans	103	107
Unrealized loss on available-for-sale securities	142
Depreciation	68	73
State net operating loss carryforward	64	121
Total deferred tax assets	924	861
Deferred tax liabilities:
Federal Home Loan Bank stock dividends	(606)	(981)
Deferred loan origination costs	(68)	(36)
Loan servicing rights	(43)	(46)
Accrual to cash adjustment	(185)	(152)
Fair value accounting adjustments on acquisition	(535)	(535)
Total deferred tax liabilities	(1,437)	(1,750)
Net deferred tax liability	$ (513)	$ (889)

Loan Commitments (Details)

Loan Commitments (Details)	Jun. 30, 2022 USD ($)
Loan Commitments [Abstract]
Fixed rate loan commitments

Loan Commitments (Details) - Sc

Loan Commitments (Details) - Schedule of Outstanding Loan Commitments - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
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
Fixed [Member] | Other unused commitment commercial and industrial loans [Member]
Unused commitment:
Outstanding loan commitments	84	18
Fixed [Member] | Other unused commitment other [Member]
Unused commitment:
Outstanding loan commitments	562	667
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	13,372	11,961
Variable [Member] | Unused commitment commitments to fund real estate construction loans [Member]
Unused commitment:
Outstanding loan commitments	8,919	1,315
Variable [Member] | Other unused commitment commercial and industrial loans [Member]
Unused commitment:
Outstanding loan commitments	668	65
Variable [Member] | Other unused commitment other [Member]
Unused commitment:
Outstanding loan commitments	5,010	3,966
Variable [Member] | Other unused commitment Letters of credit [Member]
Unused commitment:
Outstanding loan commitments	$ 626

Stockholders' Equity and Regu_3

Stockholders' Equity and Regulatory Capital (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jan. 01, 2015
Stockholders’ Equity and Regulatory Capital [Abstract]
Maintained fee	65%
Average total consolidated assets (in Dollars)	$ 10,000
Leverage ratio	9%
Community bank leverage ratio, description	The changes temporarily reduced the minimum ratio from 9% to 8% through the end of 2020 and established a two-quarter grace period for qualifying community banking organizations. The final rule provided for a transition from the temporary 8% CBLR requirement to a 9% requirement by establishing a minimum CBLR of 8.5% 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.
Common equity tier 1 risk-based capital ratio			6.50%
Tier 1 risk-based capital ratio			8%
Total risk-based capital ratio			10%
Tier 1 leverage ratio			5%
Capital conservation buffer			2.50%
Waived dividends (in Dollars)	$ 1.9	$ 1.9

Stockholders' Equity and Regu_4

Stockholders' Equity and Regulatory Capital (Details) - Schedule of Company’s and Banks Regulatory Capital - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Kentucky First Federal Bancorp [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Actual Amount	$ 50,190	$ 51,078
Actual Ratio	15%	15.20%
Minimum Requirement For Capital Adequacy Purposes Amount	$ 30,075	$ 30,232
Minimum Requirement For Capital Adequacy Purposes Ratio	9%	9%
First Federal Savings and Loan Association of Hazard [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Actual Amount	$ 18,220	$ 18,430
Actual Ratio	20.40%	22%
Minimum Requirement For Capital Adequacy Purposes Amount	$ 8,034	$ 7,525
Minimum Requirement For Capital Adequacy Purposes Ratio	9%	9%
First Federal Savings Bank of Kentucky [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Actual Amount	$ 29,880	$ 30,093
Actual Ratio	11.70%	12%
Minimum Requirement For Capital Adequacy Purposes Amount	$ 23,050	$ 22,584
Minimum Requirement For Capital Adequacy Purposes Ratio	9%	9%

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, 2023	Jun. 30, 2022
ASSETS
Other interest-bearing deposits		$ 9
Prepaid expenses and other assets	988	602
Total assets	50,763	52,071
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable and other liabilities	52	46
Total liabilities	52	46
Shareholders’ equity	50,711	52,025
Total liabilities and shareholders’ equity	50,763	52,071
First Federal of Hazard [Member]
ASSETS
Interest-bearing deposits	473	1,185
Investment	18,035	18,433
First Federal of Kentucky [Member]
ASSETS
Interest-bearing deposits	657	703
Frankfort First [Member]
ASSETS
Investment	$ 30,610	$ 31,139

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, 2023	Jun. 30, 2022
Income
Interest income	$ 4	$ 14
Non-interest income
Total income	1,135	1,897
Non-interest expenses	382	384
Earnings before income taxes	753	1,513
Income tax expense (benefit)	(180)	(77)
Net income (loss)	933	1,590
Other comprehensive (loss) income, net of tax-related effects:
Unrealized holding losses on securities designated as available-for-sale during the year, net of tax benefits of $142 and $0 in 2023 and 2022, respectively	(427)
Comprehensive income (loss)	506	1,590
First Federal of Hazard [Member]
Income
Dividends	935	846
Equity in undistributed (excess distributed) earnings	(218)	32
Frankfort First [Member]
Income
Dividends	681	1,480
Equity in undistributed (excess distributed) earnings	$ (267)	$ (475)

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, 2023	Jun. 30, 2022
Parent Company [Member]
Condensed Income Statements, Captions [Line Items]
Unrealized holding gains (losses) on securities designated as available for sale	$ 142	$ 0

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, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net earnings for the year	$ 933	$ 1,590
Adjustments to reconcile net earnings to net cash provided by operating activities:
Excess (deficit) distributions over earnings (undistributed earnings from consolidated subsidiaries	485	443
Noncash compensation expense	4	73
Increase (decrease) in cash due to changes in:
Prepaid expenses and other assets	(371)	(106)
Other liabilities	6	(181)
Net cash provided by operating activities	1,057	1,819
Cash flows from financing activities:
Treasury stock purchases	(461)	(540)
Dividends paid on common stock	(1,363)	(1,394)
Net cash used in financing activities	(1,824)	(1,934)
Net increase (decrease) in cash and cash equivalents	(767)	(115)
Cash and cash equivalents at beginning of year	1,897	2,012
Cash and cash equivalents at end of year	$ 1,130	$ 1,897