The increase in net earnings for the quarter ended
At
At
This press release may contain statements that are forward-looking, as that term is defined by the Private Securities Litigation Act of 1995 or the Securities and Exchange Commission in its rules, regulations and releases. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors including, but not limited to, real estate values, the impact of interest rates on financing, changes in general economic conditions, legislative and regulatory changes that adversely affect the business of the Company and changes in the securities markets. Accordingly, actual results may differ from those expressed in the forward-looking statements, and the making of such statements should not be regarded as a representation by the Company or any other person that results expressed therein will be achieved.
Kentucky First Federal Bancorp is the parent company of First Federal
Savings and Loan Association, which operates one banking office in
SUMMARY OF FINANCIAL HIGHLIGHTS Condensed Consolidated Statements of Financial Condition December 31, June 30, 2008 2008 (In thousands, except share data) (Unaudited) (Audited) Assets Cash and Cash Equivalents $4,707 $15,966 Investment Securities 21,637 22,539 Loans Available for Sale 0 86 Loans Receivable, net 191,097 182,051 Other Assets 27,512 27,013 Total Assets $244,953 $247,655 Liabilities Deposits $135,917 $137,634 FHLB Advances 47,255 47,801 Other Liabilities 2,494 2,427 Total Liabilities 185,666 187,862 Shareholders' Equity 59,287 59,793 Total Liabilities and Equity $244,953 $247,655 Book Value Per Share $7.48 $7.44 Condensed Consolidated Statements of Earnings (In thousands, except share data) Six months ended December 31, Three months ended December 31, 2008 2007 2008 2007 (Unaudited) (Unaudited) Interest Income $6,189 $6,737 $3,058 $3,393 Interest Expense 3,057 4,107 1,497 2,047 Net Interest Income 3,132 2,630 1,561 1,346 Provision for Losses on Loans 15 - - - Other Operating Income 114 88 59 43 General, Administrative, and Other Expense 2,292 2,189 1,146 1,079 Earnings Before Federal Income Taxes 939 529 474 310 Federal Income Taxes 304 166 151 99 Net Earnings $635 $363 $323 $211 Basic Earnings Per Share $0.08 $0.05 $0.04 $0.03 Diluted Earnings Per Share $0.08 $0.05 $0.04 $0.03 Dividends Per Share $0.20 $0.20 $0.10 $0.10 Weighted average outstanding shares: Basic 7,588,835 7,781,376 7,561,721 7,745,436 Diluted 7,588,835 7,781,376 7,561,721 7,745,436
SOURCE Kentucky First Federal Bancorp