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CONDENSED FINANCIAL STATEMENTS OF KENTUCKY FIRST FEDERAL BANCORP (Tables)
 12 Months Ended
Jun. 30, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Balance Sheet [Table Text Block]
The following condensed financial statements summarize the financial position of Kentucky First Federal Bancorp as of June 30, 2013 and 2012, and the results of its operations and its cash flows for the fiscal years ended June 30, 2013 and 2012.
 
KENTUCKY FIRST FEDERAL BANCORP
BALANCE SHEETS
June 30, 2013 and 2012
(In thousands) 
 
 
 
2013
 
 
2012
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest-bearing deposits in First Federal of Hazard
 
$
1,085
 
 
$
425
 
Interest-bearing deposits in First Federal of Frankfort
 
 
762
 
 
 
427
 
Other interest-bearing deposits
 
 
43
 
 
 
39
 
Investment in First Federal of Hazard
 
 
16,967
 
 
 
22,640
 
Investment in Frankfort First
 
 
47,270
 
 
 
34,977
 
Prepaid expenses and other assets
 
 
535
 
 
 
456
 
 
 
 
 
 
 
 
 
 
Total assets
 
$
66,662
 
 
$
58,964
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and other liabilities
 
$
40
 
 
$
111
 
 
 
 
 
 
 
 
 
 
Total liabilities
 
 
40
 
 
 
111
 
 
 
 
 
 
 
 
 
 
Shareholders’ equity
 
 
 
 
 
 
 
 
Common stock
 
 
86
 
 
 
86
 
     Additional paid-in capital
 
 
34,732
 
 
 
36,870
 
     Retained earnings
 
 
33,604
 
 
 
31,971
 
Shares acquired by stock benefit plans
 
 
(1,626
)
 
 
(1,772
)
Shares acquired for treasury – at cost
 
 
(197
)
 
 
(8,305
)
Accumulated other comprehensive income
 
 
23
 
 
 
3
 
Total shareholders’ equity
 
 
66,622
 
 
 
58,853
 
 
 
 
 
 
 
 
 
 
Total liabilities and shareholders’ equity
 
$
66,662
 
 
$
58,964
 
Condensed Income Statement [Table Text Block]
KENTUCKY FIRST FEDERAL BANCORP
STATEMENTS OF INCOME
Years ended June 30, 2013 and 2012
(Dollar amounts in thousands)
 
 
 
2013
 
 
2012
 
Income
 
 
 
 
 
 
 
 
Interest income
 
$
122
 
 
$
121
 
Dividends from First Federal of Hazard
 
 
6,480
 
 
 
—
 
Equity in undistributed (excess distributed) earnings of First Federal of Hazard
 
 
(5,745
)
 
 
886
 
Dividends from Frankfort First
 
 
—
 
 
 
—
 
Equity in undistributed earnings of Frankfort First
 
 
2,823
 
 
 
1,306
 
Total income
 
 
3,680
 
 
 
2,313
 
 
 
 
 
 
 
 
 
 
Non-interest expenses
 
 
752
 
 
 
838
 
 
 
 
 
 
 
 
 
 
Earnings before income taxes
 
 
2,928
 
 
 
1,475
 
 
 
 
 
 
 
 
 
 
Federal income tax expense (benefit)
 
 
12
 
 
 
(240
)
 
 
 
 
 
 
 
 
 
NET INCOME
 
$
2,916
 
 
$
1,715
 
Condensed Cash Flow Statement [Table Text Block]
KENTUCKY FIRST FEDERAL BANCORP
STATEMENTS OF CASH FLOWS
For Years ended June 30, 2013 and 2012
(Dollar amounts in thousands)
 
 
2013
 
 
2012
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
Net earnings for the year
 
$
2,916
 
 
$
1,715
 
Adjustments to reconcile net earnings to net cash provided by operating activities:
 
 
 
 
 
 
 
 
Excess (deficit) distributions over earnings (undistributed earnings) from consolidated subsidiaries
 
 
2,921
 
 
 
(2,192
)
Noncash compensation expense
 
 
467
 
 
 
134
 
Increase (decrease) in cash due to changes in:
 
 
 
 
 
 
 
 
Prepaid expenses and other assets
 
 
(79
)
 
 
65
 
Other liabilities
 
 
(71
)
 
 
(246
)
Net cash provided by operating activities
 
 
6,154
 
 
 
(524
)
 
 
2013
 
 
2012
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
Dividends paid on common stock
 
 
(1,283
)
 
 
(1,604
)
Acquisition of CKF Bancorp, net of cash acquired
 
 
(3,466
)
 
 
 
 
Repurchase of treasury shares
 
 
(—
)
 
 
(135
)
Net cash used in financing activities
 
 
(4,749
)
 
 
(1,739
)
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
 
 
999
 
 
 
(2,263
)
 
 
 
 
 
 
 
 
 
Cash and cash equivalents at beginning of year
 
 
891
 
 
 
3,154
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents at end of year
 
$
1,890
 
 
$
891