EXHIBIT 5.1




                      MALIZIA, SPIDI, SLOANE & FISCH, P.C.
                                Attorneys at Law
                               One Franklin Square
                               1301 K Street, N.W.
                                 Suite 700 East
                             Washington, D.C. 20005
                            Telephone: (202) 434-4660
                           Telecopier: (202) 434-4661


March 17, 1997

Board of Directors
SFB Bancorp, Inc.
632 East Elk Avenue

Elizabethton, Tennessee 37643-3378

      Re:   Registration Statement Under the Securities Act of 1933

Ladies and Gentlemen:

      This opinion is rendered in connection with the Registration  Statement on
Form SB-2 to be filed with the  Securities  and  Exchange  Commission  under the
Securities Act of 1933 relating to the offer and sale of up to 767,000 shares of
common stock,  par value $0.10 per share (the "Common  Stock"),  of SFB Bancorp,
Inc. (the "Company"),  including shares to be issued to certain employee benefit
plans of the  Company  and its  subsidiary.  The Common  Stock is proposed to be
issued  pursuant to the Plan of  Conversion  (the  "Plan") of  Security  Federal
Savings  Bank  (the  "Savings  Bank")  in  connection  with the  Savings  Bank's
conversion  from a mutual savings bank form of  organization  to a stock savings
bank form of organization and reorganization  into a wholly-owned  subsidiary of
the Company (the  "Conversion").  As special counsel to the Savings Bank and the
Company, we have reviewed the corporate proceedings relating to the Plan and the
Conversion  and such other legal matters as we have deemed  appropriate  for the
purpose of rendering this opinion.

      Based on the  foregoing,  we are of the opinion  that the shares of Common
Stock of the Company covered by the aforesaid  Registration Statement will, when
issued in accordance  with the terms of the Plan against full payment  therefor,
be validly issued, fully paid, and non-assessable  shares of Common Stock of the
Company.

      This opinion is given as of the date hereof and we assume no obligation to
advise you of changes that may hereafter be brought to our attention.



Board of Directors
March 17, 1997
Page Two

      We hereby  consent to the use of this opinion and to the  reference to our
firm appearing in the Company's  Prospectus  under the headings "The  Conversion
Effects of  Conversion  to Stock Form on  Depositors  and  Borrowers of Security
Federal Savings Bank - Tax Effects" and "Legal and Tax Matters." We also consent
to any  references  to our legal  opinion  referred to under the  aforementioned
headings in the Prospectus.

                                Very truly yours,


                                /s/Malizia, Spidi, Sloane & Fisch, P.C.
                                MALIZIA, SPIDI, SLOANE & FISCH, P.C.