Kentucky First Federal Profit Plunge: What Caused It?

Kentucky First Federal Bancorp Reports Decline in Net Earnings for Q4 and Six-Month Period Ending December 31, 2023

Kentucky First Federal Bancorp has announced a significant decline in net earnings for the quarter and six-month period ending on December 31, 2023. The holding company for First Federal Savings and Loan Association of Hazard and First Federal Savings Bank of Kentucky reported a net loss of $361,000 or ($0.05) diluted earnings per share for the quarter, compared to net earnings of $374,000 or $0.04 per share for the same period in the previous year. For the six months ending on December 31, 2023, the net loss widened to $536,000 or ($0.07) per share from net earnings of $747,000 or $0.09 per share for the same period in 2022.