March 7, 2003

Board of Directors
Frankfort First Bancorp, Inc.
216 West Main Street
Frankfort, Kentucky 40602-0535

         Re:      Frankfort First Bancorp, Inc./First Federal Savings Bank
                  Junior Officer Recognition Plan
                  Registration Statement on Form S-8
                  --------------------------------------------------------

Gentlemen:

     We have  acted as counsel  to and for  Frankfort  First  Bancorp,  Inc.,  a
Delaware  corporation  (the  "Company"),  in connection with the preparation and
filing with the Securities and Exchange  Commission of a Registration  Statement
on Form S-8 (the "Registration  Statement") for the purpose of registering under
the  Securities  Act of 1933,  as amended,  8,000  shares (the  "Shares") of the
Company's  common stock,  par value $.01 per share (the "Common Stock") issuable
under the  Frankfort  First  Bancorp,  Inc./First  Federal  Savings  Bank Junior
Officer Recognition Plan (the "Plan").

     In our  capacity as counsel,  we have been  requested to render the opinion
set forth in this letter and, in  connection  therewith,  we have  reviewed  the
following documents:  (i) the Registration  Statement;  (ii) the Plan; (iii) the
Company's  Certificate  of  Incorporation  and Bylaws;  (iv) certain  minutes of
meetings or unanimous consents of the Board of Directors of the Company; and (v)
a certificate  of the President and Secretary of the Company dated March 4, 2003
certifying to the truth and correctness of (ii), (iii) and (iv).

     In  rendering  this  opinion,  we have  assumed  and relied  upon,  without
independent  investigation,  (i) the authenticity,  completeness,  truth and due
authorization and execution of all documents submitted to us as originals,  (ii)
the genuineness of all signatures on all documents submitted to us as originals,
and (iii) the  conformity to the  originals of all documents  submitted to us as
certified or photostatic copies.

     The law covered by the opinion  expressed herein is limited to the Delaware
General  Corporation  Law as  compiled  in  Volume  3 of  Prentice-Hall  Law and
Business Corporation Statutes without regard to case law.

     This  opinion  letter is given only with  respect  to laws and  regulations
presently in effect. We assume no obligation to advise you of any changes in law
or regulation which may hereafter occur,  whether the same are  retroactively or
prospectively  applied, or to update or supplement this letter in any fashion to
reflect any facts or circumstances which hereafter come to our attention.

     Based upon, and subject to, the  foregoing,  we are of the opinion that the
Shares when issued  pursuant to and in accordance  with the Plan will be legally
issued, fully paid and nonassessable.



Board of Directors
Frankfort First Bancorp, Inc.
March 7, 2003
Page 2


     We  hereby  consent  to the  use  of  this  opinion  as an  exhibit  to the
Registration Statement and we further consent to the reference to our firm under
the caption  "Legal  Opinion" in the prospectus for the Plan dated March 6, 2003
to which  the  Registration  Statement  relates  (the  "Prospectus")  and to any
reference to our firm in the  Prospectus  as legal  counsel who have passed upon
the legality of the securities offered thereby.

                               Very truly yours,

                               STRADLEY RONON STEVENS & YOUNG, LLP


                               By:/s/ Gary R. Bronstein
                                  -------------------------------------------
                                  Gary R. Bronstein, A Partner