10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
	EXCHANGE ACT OF 1934

For the quarterly period ended                      September 30, 2014                              

OR

¨ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from ____________ to _______________

Commission File Number: 0-51176   

KENTUCKY FIRST FEDERAL BANCORP

(Exact name of registrant as specified in its charter)

United States of America	61-1484858
(State or other jurisdiction of	(I.R.S. Employer Identification No.)
incorporation or organization)

216 West Main Street, Frankfort, Kentucky  40601

(Address of principal executive offices)(Zip Code)

(502) 223-1638

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months or such shorter period that the issuer was required to file such reports and (2) has been subject to such filing requirements for the past ninety days:               Yes x             No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company,” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ¨	Accelerated filer ¨
Non-accelerated filer ¨	Smaller Reporting Company x
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.)

                                                                                                                    Yes ¨                                     No x

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: At November 13, 2014, the latest practicable date, the Corporation had 8,524,178 shares of $.01 par value common stock outstanding.

INDEX

			Page
PART I - ITEM 1 FINANCIAL INFORMATION
		Consolidated Balance Sheets	3
		Consolidated Statements of Income	4
		Consolidated Statements of Comprehensive Income	5
		Consolidated Statements of Cash Flows	6
		Notes to Consolidated Financial Statements	8
	ITEM 2	Management’s Discussion and Analysis of  Financial Condition and Results of  Operations	27
	ITEM 3	Quantitative and Qualitative Disclosures About Market Risk	33
	ITEM 4	Controls and Procedures	33
PART II - OTHER INFORMATION			34
SIGNATURES			35

2

PART I

ITEM 1: Financial Information

Kentucky First Federal Bancorp

CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands, except share data)

	September  30,			June 30,
	2014			2014
ASSETS
Cash and due from financial institutions	$	4,070		$	4,191
Interest-bearing demand deposits		6,805			7,320
Cash and cash equivalents		10,875			11,511
Securities available for sale		209			247
Securities held-to-maturity, at amortized cost- approximate   fair value of $8,819 and $9,195 at September 30, 2014   and June 30, 2014, respectively		8,673			9,018
Loans held for sale		206			—
Loans, net of allowance of $1,494 and $1,473 at September 30, 2014 and June 30, 2014, respectively		243,883			246,788
Real estate owned, net		1,803			1,846
Premises and equipment, net		4,632			4,629
Federal Home Loan Bank stock, at cost		6,482			6,482
Accrued interest receivable		900			891
Bank-owned life insurance		2,902			2,878
Goodwill		14,507			14,507
Prepaid federal income taxes		83			227
Prepaid expenses and other assets		585			631
Total assets	$	295,740		$	299,655
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits	$	211,716		$	213,142
Federal Home Loan Bank advances		14,188			17,200
Advances by borrowers for taxes and insurance		867			616
Accrued interest payable		34			32
Deferred federal income taxes		256			210
Deferred revenue		628			631
Other liabilities		834			619
Total liabilities		228,523			232,450
Commitments and contingencies		-			-
Shareholders’ equity
Preferred stock, 500,000 shares authorized, $.01 par value; no shares issued and outstanding		-			-
Common stock, 20,000,000 shares authorized, $.01 par value; 8,596,064 shares issued		86			86
Additional paid-in capital		34,624			34,671
Retained earnings		34,063			34,027
Unearned employee stock ownership plan (ESOP), 136,318 shares and 140,987 shares at September 30, 2014 and June 30, 2014, respectively		(1,363	)		(1,410	)
Treasury shares at cost, 27,886 common shares at September 30, 2014 and June 30, 2014		(239	)		(239	)
Accumulated other comprehensive income		46			70
Total shareholders’ equity		67,217			67,205
Total liabilities and shareholders’ equity	$	295,740		$	299,655

See accompanying notes.

3

Kentucky First Federal Bancorp

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(Dollars in thousands, except per share data)

	Three months ended September 30,
	2014			2013
Interest income
Loans, including fees	$	3,000		$	3,111
Mortgage-backed securities		29			36
Other securities		6			7
Interest-bearing deposits and other		64			82
Total interest income		3,099			3,236
Interest expense
Interest-bearing demand deposits		8			7
Savings		59			60
Certificates of Deposit		222			301
Deposits		289			368
Borrowings		62			85
Total interest expense		351			453
Net interest income		2,748			2,783
Provision for loan losses		56			282
Net interest income after provision for losses on loans		2,692			2,501
Non-interest income
Earnings on bank-owned life insurance		23			23
Net gains on sales of loans		6			35
Net loss on sales of OREO		(1	)		(10	)
Write-down of real estate owned		—			(17	)
Other		68			84
Total non-interest income		96			115
Non-interest expense
Employee compensation and benefits		1,377			1,249
Occupancy and equipment		131			140
Outside service fees		38			36
Legal fees		7			11
Data processing		102			122
Auditing and accounting		65			33
FDIC insurance premiums		63			60
Franchise and other taxes		67			68
Foreclosure and OREO expenses (net)		53			20
Other		266			248
Total non-interest expense		2,169			1,987
Income before income taxes		619			629
Federal income taxes		203			206
NET INCOME	$	416		$	423
EARNINGS PER SHARE
Basic and diluted	$	0.05		$	0.05
DIVIDENDS PER SHARE	$	0.10		$	0.10

See accompanying notes.

4

Kentucky First Federal Bancorp

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

(In thousands)

	Three months ended September 30,
	2014			2013
Net income	$	416		$	423
Other comprehensive loss, net of tax benefits:
Unrealized holding losses on securities designated as available for sale, net of tax benefits of $11 and $1 during the respective periods		(24	)		(2	)
Comprehensive income	$	392		$	421

See accompanying notes.

5

Kentucky First Federal Bancorp

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In thousands)

	Three months ended
	September 30,
	2014			2013
Cash flows from operating activities:
Net income	$	416		$	423
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation		66			78
Accretion of purchased loan discount		(60	)		—
Amortization of purchased loan premium		4			—
Accretion of deferred loan origination costs		(5	)		—
Amortization (accretion) of premiums on investment securities		41			(64	)
Accretion of premiums on Federal Home Loan Bank advances		—			(42	)
Accretion of premiums on deposits		(98	)		(120	)
Net gain on sale of loans		(6	)		(35	)
Net loss on sale of real estate owned		1			10
Valuation adjustments of real estate owned		—			17
Deferred gain on sale of real estate owned		(3	)		23
ESOP compensation expense		39			38
Earnings on bank-owned life insurance		(23	)		(23	)
Provision for loan losses		56			282
Origination of loans held for sale		(326	)		(1,073	)
Proceeds from loans held for sale		85			1,294
Increase (decrease) in cash, due to changes in:
Accrued interest receivable		(9	)		(12	)
Prepaid expenses and other assets		46			47
Accrued interest payable		2			2
Other liabilities		215			122
Federal income taxes		203			3
Net cash provided by operating activities		644			970
Cash flows from investing activities:
Securities maturities, prepayments and calls:
Held to maturity		304			1,147
Available for sale		2			22
Loans originated for investment, net of principal collected		2,625			3,636
Proceeds from sale of real estate owned		327			—
Additions to premises and equipment, net		(69	)		(86	)
Net cash provided by investing activities		3,189			4,719
Cash flows from financing activities:
Net change in deposits		(1,328	)		(3,840	)
Payments by borrowers for taxes and insurance, net		251			241
Repayments on Federal Home Loan Bank advances		(3,012	)		(5,534	)
Dividends paid on common stock		(380	)		(360	)
Net cash used in financing activities		(4,469	)		(9,493	)
Net decrease in cash and cash equivalents		(636	)		(3,804	)
Beginning cash and cash equivalents		11,511			16,540
Ending cash and cash equivalents	$	10,875		$	12,736

(continued)

See accompanying notes.

6

Kentucky First Federal Bancorp

CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

(Unaudited)

(In thousands)

	Three months ended
	September 30,
	2014		2013
Supplemental disclosure of cash flow information:
Cash paid during the period for:
Federal income taxes	$	—	$	225
Interest on deposits and borrowings	$	447	$	613
Transfers of loans to real estate acquired  through foreclosure, net	$	156	$	327
Loans made on sale of real estate acquired  through foreclosure	$	195	$	35
Deferred gain on sale of real estate acquired  through foreclosure	$	2	$	5
Capitalization of mortgage servicing rights	$	1	$	10

See accompanying notes.

7

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2014

(unaudited)

On March 2, 2005, First Federal Savings and Loan Association of Hazard (“First Federal of Hazard” or the “Association”) completed a Plan of Reorganization (the “Plan” or the “Reorganization”) pursuant to which the Association reorganized into the mutual holding company form of ownership with the incorporation of a stock holding company, Kentucky First Federal Bancorp (the “Company”) as parent of the Association. Coincident with the Reorganization, the Association converted to the stock form of ownership, followed by the issuance of all the Association’s outstanding stock to Kentucky First Federal Bancorp. Completion of the Plan of Reorganization culminated with Kentucky First Federal Bancorp issuing 4,727,938 common shares, or 55% of its common shares, to First Federal Mutual Holding Company (“First Federal MHC”), a federally chartered mutual holding company, with 2,127,572 common shares, or 24.8% of its shares offered for sale at $10.00 per share to the public and a newly formed Employee Stock Ownership Plan (“ESOP”). The Company received net cash proceeds of $16.1 million from the public sale of its common shares. The Company’s remaining 1,740,554 common shares were issued as part of the $31.4 million cash and stock consideration paid for 100% of the common shares of Frankfort First Bancorp (“Frankfort First”) and its wholly-owned subsidiary, First Federal Savings Bank of Frankfort (“First Federal of Frankfort”). The acquisition was accounted for using the purchase method of accounting and resulted in the recordation of goodwill and other intangible assets totaling $15.4 million.

On December 31, 2012, the Company completed its acquisition of CKF Bancorp, Inc. (“CKF Bancorp”), the parent company of Central Kentucky Federal Savings Bank (“Central Kentucky FSB”), pursuant to the provisions of the Agreement of Merger dated as of November 3, 2011 and amended as of September 28, 2012.

1. Basis of Presentation

The accompanying unaudited consolidated financial statements, which represent the consolidated balance sheets and results of operations of the Company, were prepared in accordance with the instructions for Form 10-Q and, therefore, do not include information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with U.S. generally accepted accounting principles. However, in the opinion of management, all adjustments (consisting of only normal recurring adjustments) which are necessary for a fair presentation of the consolidated financial statements have been included. The results of operations for the three-month period ended September 30, 2014, are not necessarily indicative of the results which may be expected for an entire fiscal year. The consolidated balance sheet as of June 30, 2014 has been derived from the audited consolidated balance sheet as of that date. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Form 10-K annual report for 2014 filed with the Securities and Exchange Commission.

Principles of Consolidation - The consolidated financial statements include the accounts of the Company, Frankfort First, and its wholly-owned banking subsidiaries, First Federal of Hazard and First Federal of Frankfort (collectively hereinafter “the Banks”). All intercompany transactions and balances have been eliminated in consolidation.

Reclassifications - Certain amounts presented in prior periods have been reclassified to conform to the current period presentation. Such reclassifications had no impact on prior years’ net income.

8

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2014

(unaudited)

2. Earnings Per Share

Diluted earnings per share is computed taking into consideration common shares outstanding and dilutive potential common shares to be issued or released under the Company’s share-based compensation plans. The factors used in the basic and diluted earnings per share computations follow:

	Three months ended September 30,
(in thousands)	2014		2013
Net income allocated to common shareholders, basic and diluted	$	416	$	423

	Three months ended September 30,
(in thousands)	2014		2013
Weighted-average common shares outstanding, basic and diluted		8,383,191		8,369,515

There were 309,800 stock option shares outstanding for the three-month periods ended September 30, 2014 and 2013. The stock option shares outstanding were antidilutive for the respective periods.

3. Investment Securities

The following table summarizes the amortized cost and fair value of securities available-for-sale and securities held-to-maturity at September 30, 2014 and June 30, 2014, the corresponding amounts of gross unrealized gains recognized in accumulated other comprehensive income and gross unrecognized gains and losses:

			September 30, 2014
(in thousands)	Amortized cost		Gross unrealized/ unrecognized gains		Gross unrealized/ unrecognized losses		Estimated fair value
Available-for-sale Securities
Agency mortgage-backed:residential	$	131	$	2	$	-	$	133
FHLMC stock		8		68		-		76
	$	139	$	70	$	-	$	209
Held-to-maturity Securities
Agency mortgage-backed: residential	$	3,480	$	152	$	1	$	3,631
Agency bonds		5,193		4		9		5,188
	$	8,673	$	156	$	10	$	8,819

9

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

September 30, 2014

(unaudited)

3. Investment Securities (continued)

			June 30, 2014
(in thousands)	Amortized cost		Gross unrealized/ unrecognized gains		Gross unrealized/ unrecognized losses		Estimated fair value
Available-for-sale Securities
Agency mortgage-backed:residential	$	134	$	2	$	-	$	136
FHLMC stock		8		103		-		111
	$	142	$	105	$	-	$	247
Held-to-maturity Securities
Agency mortgage-backed: residential	$	3,792	$	180	$	1	$	3,971
Agency bonds		5,226		3		5		5,224
	$	9,018	$	183	$	6	$	9,195

The Company’s equity securities consist of Federal Home Loan Mortgage Company (FHLMC or Freddie Mac) stock, while our debt securities consist of agency bonds and mortgage-backed securities. Mortgage-backed securities do not have a single maturity date. The amortized cost and fair value of held-to-maturity debt securities are shown by contractual maturity. Securities not due at a single maturity are shown separately.

	September 30, 2014
(in thousands)	Amortized Cost		Fair Value
Held-to-maturity Securities
Within one year	$	2,038	$	2,041
One to five years		3,155		3,147
Mortgage-backed		3,480		3,631
	$	8,673	$	8,819

Our pledged securities at September 30, 2014, and June 30, 2014 totaled $2.2 million and $2.6 million, respectively.

There were no sales of investment securities during the three-month periods ended September 30, 2014 and 2013.

We evaluated securities in unrealized loss positions for evidence of other-than-temporary impairment, considering duration, severity, financial condition of the issuer, our intention to sell or requirement to sell. Those securities were agency bonds, which carry a very limited amount of risk. Also, we have no intention to sell nor feel tht we will be compelled to sell such securities before maturity. Based on our evaluation, no impairment has been recognized through earnings.

10

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

September 30, 2014

(unaudited)

4. Loans receivable

The composition of the loan portfolio was as follows:

	September 30,			June 30,
(in thousands)	2014			2014
Residential real estate
One- to four-family	$	194,030		$	196,381
Multi-family		13,640			14,002
Construction		1,965			2,122
Land		2,399			2,362
Farm		1,627			1,644
Nonresidential real estate		21,701			21,945
Commercial nonmortgage		1,896			2,080
Consumer and other:
Loans on deposits		2,564			2,564
Home equity		5,617			5,359
Automobile		66			64
Unsecured		362			638
		245,867			249,161
Undisbursed portion of loans in process		(588	)		(952	)
Deferred loan origination fees (cost)		98			52
Allowance for loan losses		(1,494	)		(1,473	)
	$	243,883		$	246,788

The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2014:

(in thousands)	Beginning balance		Provision for loan losses			Loans charged off		Recoveries		Ending balance
Residential real estate:
One- to four-family	$	1,003	$	52		$	37	$	2	$	1,020
Multi-family		73		—			—		—		73
Construction		11		—			—		—		11
Land		10		1							11
Farm		9		—			—		—		9
Nonresidential real estate		112		2			—		—		114
Commercial nonmortgage		11		(1	)		—		—		10
Consumer and other:
Loans on deposits		13		1			—		—		14
Home equity		28		2			—		—		30
Automobile		—		—			—		—		—
Unsecured		3		(1	)		—		—		2
Unallocated		200		—			—		—		200
Totals	$	1,473	$	56		$	37	$	2	$	1,494

11

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

September 30, 2014

(unaudited)

4. Loans receivable (continued)

The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2013:

(in thousands)	Beginning balance		Provision for loan losses			Loans charged off		Recoveries		Ending balance
Residential real estate:
One- to four-family	$	871	$	273		$	207	$	—	$	937
Multi-family		63		2			—		—		65
Construction		8		1			—		—		9
Land		12		(1	)		—		—		11
Farm		6		2			—		—		8
Nonresidential real estate		94		8			—		—		102
Commercial nonmortgage		13		1			—		—		14
Consumer and other:
Loans on deposits		12		—			—		—		12
Home equity		25		1			—		—		26
Automobile		—		—			—		—		—
Unsecured		6		(5	)		—		1		2
Unallocated		200		—			—		—		200
Totals	$	1,310	$	282		$	207	$	1	$	1,386

12

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

September 30, 2014

(unaudited)

4. Loans receivable (continued)

The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of September 30, 2014. The recorded investment in loans excludes accrued interest receivable and deferred loan costs, net due to immateriality.

September 30, 2014:

(in thousands)	Loans individually evaluated		Loans acquired with deteriorated credit quality		Ending loans balance		Ending allowance attributed to loans		Unallocated allowance		Total allowance
Loans individually evaluated for impairment:
Residential real estate:
One- to four-family	$	1,511	$	2,587	$	4,098	$	9	$	—	$	9
Land		—		421		421
Nonresidential real estate		—		514		514		—		—		—
Commercial nonmortgage		—		46		46		—		—		—
Consumer and other
Automobile		—		—		—		—		—		—
Unsecured		—		—		—		—		—		—
		1,511		3,568		5,079		9		—		9
Loans collectively evaluated for impairment:
Residential real estate:
One- to four-family					$	189,932	$	1,011	$	—	$	1,011
Multi-family						13,640		73		—		73
Construction						1,965		11		—		11
Land						1,978		11		—		11
Farm						1,627		9		—		9
Nonresidential real estate						21,187		114		—		114
Commercial nonmortgage						1,850		10		—		10
Consumer and other
Loans on deposits						2,564		14		—		14
Home equity						5,617		30		—		30
Automobile						66		—		—		—
Unsecured						362		2		—		2
Unallocated						—		—		200		200
						240,788		1,285		200		1,485
					$	245,867	$	1,294	$	200	$	1,494

13

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

September 30, 2014

(unaudited)

4. Loans receivable (continued)

The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of June 30, 2014.

June 30, 2014:

(in thousands)	Loans individually evaluated		Loans acquired with deteriorated credit quality		Ending loans balance		Ending allowance attributed to loans		Unallocated allowance		Total allowance
Loans individually evaluated for impairment:
Residential real estate:
One- to four-family	$	2,159	$	2,735	$	4,894	$	14	$	—	$	14
Farm		—		444		444		—		—		—
Nonresidential real estate		—		529		529		—		—		—
Commercial and industrial		—		68		68		—		—		—
		2,159		3 776		5,935		14		—		14
Loans collectively evaluated for impairment:
Residential real estate:
One- to four-family					$	191,487	$	989	$	—	$	989
Multi-family						14,002		73		—		73
Construction						2,122		11		—		11
Land						1,918		10		—		10
Farm						1,644		9		—		9
Nonresidential real estate						21,416		112		—		112
Commercial nonmortgage						2,012		11		—		11
Consumer and other
Loans on deposits						2,564		13		—		13
Home equity						5,359		28		—		28
Automobile						64		—		—		—
Unsecured						638		3		—		3
Unallocated						—		—		200		200
						243,226		1,259		200		1,459
					$	249,161	$	1,273	$	200	$	1,473

14

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

September 30, 2014

(unaudited)

4. Loans receivable (continued)

The following table presents loans individually evaluated for impairment by class of loans as of and for the three months ended September 30, 2014 and 2013:

September 30, 2014:

(in thousands)	Unpaid Principal Balance and Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
With no related allowance recorded:
One- to four-family	$	1,441	$	—	$	1,701	$	1	$	1
Purchased credit-impaired loans		3,568		—		3,635		29		29
		5,009		—		5,336		30		30
With an allowance recorded:
One- to four-family		70		9		135		1		1
	$	5,079	$	9	$	5,471	$	31	$	31

September 30, 2013:

(in thousands)	Unpaid Principal Balance and Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
With no related allowance recorded:
One- to four-family	$	3,207	$	—	$	3,854	$	—	$	—
Purchased credit-impaired loans		3,809		—		3,986		—		—
		7,016		—		7,840		—		—
With an allowance recorded:
One- to four-family		210		14		212		—		—
	$	7,226	$	14	$	8,052	$	—	$	—

The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of September 30, 2014, and June 30, 2014:

	September 30, 2014				June 30, 2014
(in thousands)	Nonaccrual		Loans Past Due Over 90 Days Still Accruing		Nonaccrual		Loans Past Due Over 90 Days Still  Accruing
One- to four-family residential real estate	$	5,171	$	2,442	$	5,767	$	3,513
Land		288		—		—		—
Nonresidential real estate		382		—		384		—
Commercial nonmortgage		47		—		47		—
Consumer		28		—		29		—
	$	5,916	$	2,442	$	6,227	$	3,513

15

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

September 30, 2014

(unaudited)

4. Loans receivable (continued)

Troubled Debt Restructurings:

A Troubled Debt Restructuring (“TDR”) is the situation where the Bank grants a concession to the borrower that the Bank would not otherwise have considered due to the borrower’s financial difficulties. All TDRs are considered “impaired.” At September 30, 2014 and June 30, 2014, the Company had $1.8 million and $2.0 million of loans classified as TDRs, respectively. Of the TDRs at September 30, 2014, approximately 41.9% were related to the borrower’s completion of Chapter 7 bankruptcy proceedings with no reaffirmation of his debt to the Banks.

During the period ended September 30, 2014, there were no terms of loans restructured.

The following table presents TDRs by loan type at September 30, 2014 and June 30, 2014, and their performance, by modification type:

(dollars in thousands)	Number of Loans		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		TDRs Performing to Modified Terms		TDRs Not Performing to Modified Terms
September 30, 2014
Residential Real Estate:
1-4 Family		38	$	2,122	$	1,824	$	1,627	$	197
June 30, 2014
Residential Real Estate:
1-4 Family		39	$	2,230	$	1,997	$	1,621	$	376

16

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

September 30, 2014

(unaudited)

4. Loans receivable (continued)

The following table summarizes TDR loan modifications for the three months ended September 30, 2014 and 2013, and their performance, by modification type:

(in thousands)	Troubled Debt Restructurings Performing to Modified Terms		Troubled Debt Restructurings Not Performing to Modified Terms		Total Troubled Debt Restructurings
Three months ended September 30, 2014
Residential real estate:
Rate reduction	$	—	$	—	$	—
Bankruptcies		—		—		—
Total troubled debt restructures	$	—	$	—	$	—
Three months ended September 30, 2013
Residential real estate:
Rate reduction	$	126	$	—	$	126
Bankruptcies		208		61		269
Total troubled debt restructures	$	334	$	61	$	395

The Company had no allocated specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of September 30, 2014, or at June 30, 2014. The Company had no commitments to lend on loans classified as TDRs at September 30, 2014 or June 30, 2014.

The TDRs described above did not increase the allowance for loan losses and did not result in charge offs during the three months ended September 30, 2014 or 2013. There were no TDRs that defaulted in the three months ended September 30, 2014, and one TDR that defaulted during the three months ended September 30, 2013. The TDR Loan that defaulted in the 2013 period had a carrying value of $486,000 at September 30, 2014, and while that loan was in foreclosure at the end of the period, there has been no charge-off or additional provision recorded for that credit.

The following table presents the aging of the principal balance outstanding in past due loans as of September 30, 2014, by class of loans:

(in thousands)	30-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Loans Not Past Due		Total
Residential real estate:
One-to four-family	$	4,247	$	5,561	$	9,808	$	184,222	$	194,030
Multi-family		—		—		—		13,640		13,640
Construction		—		—		—		1,965		1,965
Land		566		27		593		1,806		2,399
Farm		—		—		—		1,627		1,627
Nonresidential real estate		—		195		195		21,506		21,701
Commercial nonmortgage		—		—		—		1,896		1,896
Consumer and other		92		—		92		8,517		8,609
Total	$	4,905	$	5,783	$	10,688	$	235,179	$	245,867

17

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

September 30, 2014

(unaudited)

4. Loans receivable (continued)

The following tables present the aging of the principal balance outstanding in past due loans as of June 30, 2014, by class of loans:

(in thousands)	30-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Loans Not Past Due		Total
Residential real estate:
One-to four-family	$	4,481	$	9,060	$	13,541	$	182,840	$	196,381
Multi-family		—		—		—		14,002		14,002
Construction		343		—		343		1,779		2,122
Land		—		364		364		1,998		2,362
Farm		—		—		—		1,644		1,644
Nonresidential real estate		375		396		771		21,174		21,945
Commercial nonmortgage		—		88		88		1,992		2,080
Consumer and other:
Loans on deposits		—		—		—		2,564		2,564
Home equity		—		33		33		5,326		5,359
Automobile		—		—		—		64		64
Unsecured		68		—		68		570		638
Total	$	5,267	$	9,941	$	15,208	$	233,953	$	249,161

Credit Quality Indicators:

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on an annual basis. The Company uses the following definitions for risk ratings:

Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable.

18

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

September 30, 2014

(unaudited)

4. Loans receivable (continued)

Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered to be pass rated loans. Loans listed that are not rated are included in groups of homogeneous loans and are evaluated for credit quality based on performing status. See the aging of past due loan table above. As of September 30, 2014, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

(in thousands)	Pass		Special Mention		Substandard		Doubtful		Not rated
Residential real estate:
One- to four-family	$	—	$	3,657	$	9,733	$	—	$	180,640
Multi-family		13,640		—		—		—		—
Construction		1,965		—		—		—		—
Land		1,496		—		903
Farm		1,627		—		—		—		—
Nonresidential real estate		18,727		941		2,033		—		—
Commercial nonmortgage		1,849		—		47		—		—
Consumer and other:
Loans on deposits		2,564		—		—		—		—
Home equity		5,617		—		—		—		—
Automobile		38		—		28		—		—
Unsecured		359		3		—		—		—
	$	47,882	$	4,601	$	12,744	$	—	$	180,640

At June 30, 2014, the risk category of loans by class of loans was as follows:

(in thousands)	Pass		Special Mention		Substandard		Doubtful		Not rated
Residential real estate:
One- to four-family	$	—	$	2,928	$	11,287	$	—	$	182,166
Multi-family		14,002		—		—		—		—
Construction		2,122		—		—		—		—
Land		1,366		—		996		—		—
Farm		1,644		—		—		—		—
Nonresidential real estate		18,920		965		2,060		—		—
Commercial nonmortgage		2,014		—		66		—		—
Consumer and other:
Loans on deposits		2,564		—		—		—		—
Home equity		5,359		—		—		—		—
Automobile		64		—		—		—		—
Unsecured		606		3		29		—		—
	$	48,661	$	3,896	$	14,438	$	—	$	182,166

19

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

September 30, 2014

(unaudited)

4. Loans receivable (continued)

Purchased Credit Impaired Loans:

The Company purchased loans during fiscal year 2013 for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans, net of a credit quality component of $764,000 and $782,000 at September 30, 2014 and June 30, 2014, respectively, is as follows:

(in thousands)	September 30, 2014		June 30, 2014
Residential real estate:
One- to four-family	$	2,587	$	2,735
Land		421		444
Nonresidential real estate		514		529
Commercial nonmortgage loans		46		68
Outstanding balance	$	3,568	$	3,776

Accretable yield, or income expected to be collected, is as follows

(in thousands)	Three months ended September 30, 2014			Twelve months ended June 30, 2014
Balance at beginning of period	$	1,478		$	1,294
New loans purchased		—			—
Accretion of income		(60	)		(155	)
Reclassifications from nonaccretable difference		—			339
Disposals		(10	)		—
Balance at end of period	$	1,408		$	1,478

For those purchased loans disclosed above, the Company made no increase in allowance for loan losses for the year ended June 30, 2014, nor for the three months ended September 30, 2014. Neither were any allowance for loan losses reversed during those periods.

20

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

September 30, 2014

(unaudited)

5. Disclosures About Fair Value of Assets and Liabilities

ASC topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC topic 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Following is a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy.

Securities

Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics. Level 2 securities include agency mortgage-backed securities.

Impaired Loans

At the time a loan is considered impaired, it is evaluated for loss based on the fair value of collateral securing the loan if the loan is collateral dependent. If a loss is identified, a specific allocation will be established as part of the allowance for loan losses such that the loan’s net carrying value is at its estimated fair value. Impaired loans carried at fair value generally receive specific allocations of the allowance for loan losses. For collateral-dependent loans, fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly.

Other Real Estate

Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value.

21

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

September 30, 2014

(unaudited)

5. Disclosures About Fair Value of Assets and Liabilities (continued)

Financial assets measured at fair value on a recurring basis are summarized below:

	Fair Value Measurements Using
(in thousands)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2014
Agency mortgage-backed: residential	$	133	$	—	$	133	$	—
FHLMC stock		76		—		76		—
	$	209	$	—	$	209	$	—
June 30, 2014
Agency mortgage-backed: residential	$	136	$	—	$	136	$	—
FHLMC stock		111		—		111		—
	$	247	$	—	$	247	$	—

Assets measured at fair value on a non-recurring basis are summarized below:

	Fair Value Measurements Using
(in thousands)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2014
Impaired loans
One- to four-family	$	70	$	—	$	—	$	70
Other real estate owned, net
One- to four-family		786		—		—		786
Land		15		—		—		15
June 30, 2014
Impaired loans
One- to four-family	$	186	$	—	$	—	$	186
Other real estate owned, net
One- to four-family		1,140		—		—		1,140
Land		15		—		—		15

22

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

September 30, 2014

(unaudited)

5. Disclosures About Fair Value of Assets and Liabilities (continued)

Impaired loans, which are measured using the fair value of the collateral for collateral-dependent loans, had a carrying amount of $70,000 and $200,000 at September 30, 2014 and June 30, 2014, with specific valuation allowance of $9,000 and $14,000 at the end of each period, respectively. There was no specific allowance provision made for the three month periods ended September 30, 2014 or 2013.

Other real estate owned measured at fair value less costs to sell, had carrying amounts of $801,000 and $1.2 million at September 30, 2014 and June 30, 2014, respectively. While there was no write-down of other real estate owned during the three months ended September 30, 2014, other real estate owned measured at fair value less costs to sell had a net carrying amount of $210,000 resulting in a write-down of $17,000 for the three months ended September 30, 2013.

The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2014, and June 30, 2014:

					Range
	Fair Value		Valuation	Unobservable	(Weighted
September 30, 2014	(in thousands)		Technique(s)	Input(s)	Average)
Impaired Loans:
Residential real estate
One- to four- family	$	70	Sales comparison approach	Adjustments for differences between comparable sales		3.1% to 19.8% (4.3%)
Foreclosed and repossessed assets:
1-4 family	$	786	Sales comparison approach	Adjustments for differences between comparable sales		-37.1% to 30.2% (-1.7%)
Land	$	15	Sales comparison approach	Adjustments for differences between comparable sales		-66.7 to 73.3% (40.0%)

					Range
	Fair Value		Valuation	Unobservable	(Weighted
June 30, 2014	(in thousands)		Technique(s)	Input(s)	Average)
Impaired Loans:
Residential real estate
1-4 family	$	186	Sales comparison approach	Adjustments for differences between comparable sales		3.1% to 19.8% (4.3%)
Foreclosed and repossessed assets:
1-4 family	$	1,140	Sales comparison approach	Adjustments for differences between comparable sales		-37.1% to 30.2% (1.1%)
Land		15	Sales comparison approach	Adjustments for differences between comparable sales		20.2% to 38.9% (20.8%)

23

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

September 30, 2014

(unaudited)

5. Disclosures About Fair Value of Assets and Liabilities (continued)

The following is a disclosure of the fair value of financial instruments, both assets and liabilities, whether or not recognized in the consolidated balance sheet, for which it is practicable to estimate that value. For financial instruments where quoted market prices are not available, fair values are based on estimates using present value and other valuation methods.

The methods used are greatly affected by the assumptions applied, including the discount rate and estimates of future cash flows. Therefore, the fair values presented may not represent amounts that could be realized in an exchange for certain financial instruments.

       The following methods were used to estimate the fair value of all other financial instruments at September 30, 2014 and June 30, 2013:

Cash and cash equivalents and interest-bearing deposits: The carrying amounts presented in the consolidated statements of financial condition for cash and cash equivalents are deemed to approximate fair value.

Held-to-maturity securities: For held-to-maturity securities, fair value is estimated by using pricing models, quoted price of securities with similar characteristics, which is level 2 pricing for the other securities.

Loans held for sale: Loans originated and intended for sale in the secondary market are determined by FHLB pricing schedules.

Loans: The loan portfolio has been segregated into categories with similar characteristics, such as one- to four-family residential, multi-family residential and nonresidential real estate. These loan categories were further delineated into fixed-rate and adjustable-rate loans. The fair values for the resultant loan categories were computed via discounted cash flow analysis, using current interest rates offered for loans with similar terms to borrowers of similar credit quality. For loans on deposit accounts and consumer and other loans, fair values were deemed to equal the historic carrying values. The fair value of loans does not consider an exit price.

Federal Home Loan Bank stock: It is not practicable to determine the fair value of FHLB stock due to restrictions placed on its transferability.

Accrued interest receivable: The carrying amount is the estimated fair value.

Deposits: The fair value of NOW accounts, passbook accounts, and money market deposits are deemed to approximate the amount payable on demand. Fair values for fixed-rate certificates of deposit have been estimated using a discounted cash flow calculation using the interest rates currently offered for deposits of similar remaining maturities.

Federal Home Loan Bank advances: The fair value of these advances is estimated using the rates currently offered for similar advances of similar remaining maturities or, when available, quoted market prices.

Advances by borrowers for taxes and insurance and accrued interest payable: The carrying amount presented in the consolidated statement of financial condition is deemed to approximate fair value.

24

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

September 30, 2014

(unaudited)

5. Disclosures About Fair Value of Assets and Liabilities (continued)

Commitments to extend credit: For fixed-rate and adjustable-rate loan commitments, the fair value estimate considers the difference between current levels of interest rates and committed rates. The fair value of outstanding loan commitments at September 30, 2014 and June 30, 2013, was not material.

Based on the foregoing methods and assumptions, the carrying value and fair value of the Company’s financial instruments at September 30, 2014 and June 30, 2014 are as follows:

			Fair Value Measurements at
			September 30, 2014 Using
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	10,875	$	10,875					$	10,875
Available-for-sale securities		209			$	209				209
Held-to-maturity securities		8,673				8,819				8,819
Loans held for sale		206					$	206		206
Loans receivable - net		243,883						249,619		249,619
Federal Home Loan Bank stock		6,482								n/a
Accrued interest receivable		900						900		900
Financial liabilities
Deposits	$	211,716	$	77,947	$	133,991			$	211,938
Federal Home Loan Bank advances		14,188				15,204				15,204
Advances by borrowers for taxes and insurance		867		867						867
Accrued interest payable		34		1		33				34

Based on the foregoing methods and assumptions, the carrying value and fair value of the Company’s financial instruments at June 30, 2013 were as follows:

			Fair Value Measurements at
(in thousands)	Carrying		June 30, 2014 Using
	Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	11,511	$	11,511					$	11,511
Available-for-sale securities		247			$	247				247
Held-to-maturity securities		9,018				9,195				9,195
Loans held for sale		—				—				—
Loans receivable - net		246,788					$	253,780		253,780
Federal Home Loan Bank stock		6,482								n/a
Accrued interest receivable		891						891		891
Financial liabilities
Deposits	$	213,142	$	88,854	$	124,390			$	213,244
Federal Home Loan Bank advances		17,200				18,303				18,303
Advances by borrowers for taxes and insurance		616		616						616
Accrued interest payable		32				32				32

Loans receivable represents the Company’s most significant financial asset, which is in Level 3 for fair value measurements. A third party provides financial modeling for the Company and results are based on assumptions and factors determined by management.

25

Kentucky First Federal Bancorp

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

September 30, 2014

(unaudited)

6. Other Comprehensive Income (Loss)

Other comprehensive income (loss) components and related tax effects for the periods indicated were as follows:

	Three months ended September 30,
(in thousands)	2014			2013
Unrealized holding gains (losses) on available-for-sale securities	$	(35	)	$	(3	)
Tax effect		11			1
Net-of-tax amount	$	(24	)	$	(2	)

The following is a summary of the accumulated other comprehensive income balances, net of tax:

(in thousands)	Balance at June 30, 2014		Current Year Change			Balance at September 30, 2014
Unrealized gains (losses) on available-for-sale securities	$	70	$	(24	)	$	46

26

Kentucky First Federal Bancorp

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

Forward-Looking Statements

Certain statements contained in this report that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties. When used herein, the terms “anticipates,” “plans,” “expects,” “believes,” and similar expressions as they relate to Kentucky First Federal Bancorp or its management are intended to identify such forward looking statements. Kentucky First Federal Bancorp’s actual results, performance or achievements may materially differ from those expressed or implied in the forward-looking statements. Risks and uncertainties that could cause or contribute to such material differences include, but are not limited to, general economic conditions, prices for real estate in the Company’s market areas, interest rate environment, competitive conditions in the financial services industry, changes in law, governmental policies and regulations, rapidly changing technology affecting financial services and the other matters mentioned in Item 1A of the Company’s Annual Report on Form 10-K for the year ended June 30, 2014.

Average Balance Sheets

The following table represents the average balance sheets for the three month periods ended September 30, 2014 and 2013, along with the related calculations of tax-equivalent net interest income, net interest margin and net interest spread for the related periods.

	Three Months Ended September 30,
	2014								2013
	Average Balance			Interest And Dividends		Yield/ Cost			Average Balance			Interest And Dividends		Yield/ Cost
	(Dollars in thousands)
Interest-earning assets:
Loans	$	246,603		$	3,000		4.87	%	$	261,191		$	3,111		4.76	%
Mortgage-backed securities		3,795			29		3.06			5,224			36		2.76
Other securities		5,327			6		0.45			6,753			7		0.42
Other interest-earning assets		14,213			64		1.80			22,816			82		1.44
Total interest-earning assets		269,938			3,099		4.59			295,984			3,236		4.37
Less: Allowance for loan losses		(1,466	)							(1,318	)
Non-interest-earning assets		29,331								29,768
Total assets	$	297,803							$	324,434
Interest-bearing liabilities:
Demand deposits	$	15,974		$	8		0.20	%	$	11,957		$	7		0.23	%
Savings		58,792			59		0.40			62,454			60		0.38
Certificates of deposit		134,988			222		0.66			152,859			301		0.79
Total deposits		209,754			289		0.55			227,270			368		0.65
Borrowings		14,660			62		1.69			23,002			85		1.48
Total interest-bearing liabilities		224,414			351		0.63			250,272			453		0.72
Noninterest-Bearing demand deposits		4,002								3,962
Noninterest-bearing liabilities		2,321								2,635
Total liabilities		230,737								256,869
Shareholders’ equity		67,066								67,565
Total liabilities and shareholders’ equity	$	297,803							$	324,434
Net interest income/average yield				$	2,748		3.97	%				$	2,783		3.65	%
Net interest margin							4.07	%							3.76	%
Average interest-earning assets to average interest-bearing liabilities							120.29	%							118.27	%

27

Kentucky First Federal Bancorp

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)

Discussion of Financial Condition Changes from June 30, 2014 to September 30, 2014

Assets: At September 30, 2014, the Company’s assets totaled $295.7 million, a decrease of $3.9 million, or 1.3%, from total assets at June 30, 2014. This decrease was attributed primarily to a decrease in loans.

Cash and cash equivalents: Cash and cash equivalents decreased by $636,000 or 5.5% to $10.9 million at September 30, 2014, as excess liquidity was utilized to repay borrowings.

Loans: Loans receivable, net, decreased by $2.9 million or 1.3% to $243.9 million at September 30, 2014, due primarily to low levels of loan demand. Management continues to look for high-quality loans to add to its portfolio and will continue to emphasize loan originations to the extent that it is profitable, prudent and consistent with our interest rate risk strategies. However, loan demand continues in its weakened state as a result of the downturn in the economy and we expect to see a continued decrease in demand for home loans until the housing market regains a stronger footing.

Non-Performing Loans:  At September 30, 2014, the Company had non-performing loans (loans 90 or more days past due or on nonaccrual status) of approximately $8.4 million, or 3.4% of total loans (including loans purchased in the acquisition), compared to $9.7 million or 3.95%, of total loans at June 30, 2014.  The Company’s allowance for loan losses totaled $1.5 million at both September 30, 2014, and June 30, 2014. The allowance for loan losses at September 30, 2014, represented 17.9% of nonperforming loans and 0.61% of total loans (including loans purchased in the acquisition), while at June 30, 2014, the allowance represented 18.4% of nonperforming loans and 0.60% of total loans.

The Company had $14.5 million in assets classified as substandard for regulatory purposes at September 30, 2014, including loans ($12.7 million) and real estate owned (“REO”) ($1.8 million), including both loans and REO acquired in the CKF Bancorp transaction. Substandard assets at June 30, 2014, consisted of 176 loans totaling $14.4 million and 23 parcels of real estate owned with an aggregate carrying value of $1.8 million. Classified loans as a percentage of total loans (including loans acquired on December 31, 2012) was 5.2% and 5.9% at September 30, 2014 and June 30, 2014, respectively.

The table below shows the aggregate amounts of our assets classified for regulatory purposes at the dates indicated:

(dollars in thousands)	September 30,  2014		June 30, 2014
Substandard assets	$	14,547	$	14,438
Doubtful assets		—		—
Loss assets		—		—
Total classified assets	$	14,547	$	14,438

28

Kentucky First Federal Bancorp

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)

Discussion of Financial Condition Changes from June 30, 2014 to September 30, 2014 (continued)

At September 30, 2014, the Company’s real estate acquired through foreclosure represented 12.4% of substandard assets compared to 11.3% at June 30, 2014. During the three months ended September 30, 2014 and the fiscal year ended June 30, 2014, the Company made loan(s) to facilitate the purchase of its other real estate owned by qualified borrowers. During the three months ended September 30, 2014, the Company sold property with carrying value of $214,000 for $200,000, while during the year ended June 30, 2014, property with a carrying value of $189,000 was sold for $200,000. Such loans are considered loans to facilitate an exchange and, as such, the Company defers recognition of any gain until the proper time in the future. Loans to facilitate the sale of other real estate owned, which were included in substandard loans, totaled $308,000 and $309,000 at September 30, 2014 and June 30, 2014, respectively.

The following table presents the aggregate carrying value of REO at the dates indicated:

	September 30, 2014				June 30, 2014
	Number				Number		Net
	of		Carrying		of		Carrying
(dollars in thousands)	Properties		Value		Properties		Value
Single family		17	$	1,788		20	$	1,831
Building lot		3		15		3		15
Total REO		20	$	1,803		23	$	1,846

At September 30, 2014, and June 30, 2014, the Company had $4.6 million and $3.9 million of loans classified as special mention, respectively (including loans purchased at December 31, 2012.) This category includes assets which do not currently expose us to a sufficient degree of risk to warrant classification, but do possess credit deficiencies or potential weaknesses deserving our close attention.

Securities: At September 30, 2014, the Company’s investment securities had decreased $383,000 to $8.9 million compared to June 30, 2014, due to maturities and repayments.

Liabilities: At September 30, 2014, the Company’s liabilities totaled $228.5 million, a decrease of $3.9 million, or 1.7%, from total liabilities at June 30, 2014. The decrease in liabilities was attributed primarily to repayment of FHLB advances that matured, while deposits also decreased during the period. FHLB Advances decreased $3.0 million or 17.5% from $17.2 million at June 30, 2014 to $14.1 million at September 30, 2014. Deposits decreased $1.4 million or 0.7% to $211.7 million at September 30, 2014.

Shareholders’ Equity: At September 30, 2014, the Company’s shareholders’ equity totaled $67.2 million, an increase of $12,000 from the June 30, 2014 total. The change in shareholders’ equity is primarily associated with net profits for the period less dividends paid on common stock.

29

Kentucky First Federal Bancor

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)

Discussion of Financial Condition Changes from June 30, 2014 to September 30, 2014 (continued)

The Company paid dividends of $380,000 or 91.3% of net income for the three-month period just ended. On July 8, 2014, the members of First Federal MHC for the third time approved a dividend waiver on annual dividends of up to $0.40 per share of Kentucky First Federal Bancorp common stock. The Board of Directors of First Federal MHC applied for approval of another waiver. On August 3, 2014, the Company received notice from the Federal Reserve Bank of Cleveland that there would be no objection to a waiver of dividends paid by the Company to First Federal MHC.  As a result, First Federal MHC will be permitted to waive the receipt of dividends for quarterly dividends up to $0.10 per common share through the third quarter of 2015. Management believes that the Company has sufficient capital to continue the current dividend policy without affecting the well-capitalized status of either subsidiary bank. Management cannot speculate on future dividend levels, because various factors, including capital levels, income levels, liquidity levels, regulatory requirements and overall financial condition of the Company are considered before dividends are declared. However, management continues to believe that a strong dividend is consistent with the Company’s long-term capital management strategy. See “Risk Factors” in Part II, Item 1A, of the Company’s Annual Report on Form 10-K for the year ended June 30, 2014 for additional discussion regarding dividends.

Comparison of Operating Results for the Three-Month Periods Ended September 30, 2014 and 2013

General

Net income totaled $416,000 for the three months ended September 30, 2014, a decrease of $7,000 or 1.7% from net income of $423,000 for the same period in 2013. The decrease was primarily attributable to higher non-interest expenses, which were somewhat offset by lower provision for loan losses.

Net Interest Income

Net interest income before provision for loan losses decreased $35,000 or 1.3% and totaled $2.8 million for the three month period just ended primarily as a result of lower interest income. Provision for loan losses totaled $56,000 for the recent quarter end compared to $282,000 for the prior year period. Net interest income after provision for loan losses increased by $191,000 or 7.6% to $2.7 million compared to net interest income after provision for loan losses of $2.5 million for the three month period ended September 30, 2013. Interest income decreased $137,000 or 4.2%, to $3.1 million, while interest expense decreased $102,000 or 22.5% to $351,000 for the three months ended September 30, 2014.

Interest income on loans decreased $111,000 or 3.6% to $3.0 million, due primarily to a decrease in volume in the loan portfolio. The average balance of loans outstanding decreased $14.6 million to $246.6 million for the period just ended, while the average rate earned on loans outstanding for the three-month period ended September 30, 2014, increased 11 basis points to 4.87% for the three months just ended.

30

Kentucky First Federal Bancorp

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)

Comparison of Operating Results for the Three-Month Periods Ended September 30, 2014 and 2013 (continued)

Net Interest Income (continued)

Interest expense on deposits decreased $79,000 or 21.5% to $289,000 for the three-month period ended September 30, 2014, primarily due to a decrease in the average rate paid on deposits. Average deposits outstanding decreased $17.5 million or 7.7% to $209.8 million for the recently ended quarter, while the average rate paid on deposits declined from 65 basis points for the quarter ended September 30, 2013, to 55 basis points for the current year period. Interest expense on borrowings decreased $23,000 or 27.1% to $62,000 for the three month period ended September 30, 2014, compared to the prior year period. The decrease in interest expense on borrowings was attributed to a lower average balance outstanding during the period. The average balance of borrowings outstanding decreased $8.3 million or 36.3% to $14.7 million for the quarterly period just ended, while the average rate paid on borrowings increased 21 basis points to 1.69% for the most recent period.

Net interest margin increased from 3.76% for the prior year quarterly period to 4.07% for the quarter ended September 30, 2014.

Provision for Losses on Loans

The Company recorded $56,000 in provision for losses on loans during the three months ended September 30, 2014, compared to a provision of $282,000 for the three months ended September 30, 2013. The provision decreased as a result of a reduction in net charge-offs, nonperforming assets and classified loans. There can be no assurance that the loan loss allowance will be adequate to absorb unidentified losses on loans in the portfolio, which could adversely affect the Company’s results of operations.

Non-interest Income

Non-interest income totaled $96,000 for the three months ended September 30, 2014, a decrease of $19,000 or 16.5% from the same period in 2013. Net gains on sales of loans, which decreased $29,000 to $6,000 for the quarter just ended, was the primary contributor to the decrease in non-interest income. The lack of loan demand in general has decreased the number of loans available to us for sale in the secondary market. Net charges on other real estate owned represented only $1,000 for the quarterly period ended September 30, 2014, compared to $27,000 in the prior year’s quarter. In the quarter ended September 30, 2014, the Company recorded no impairment charges on REO and a net loss on sale of REO of $1,000.

31

Kentucky First Federal Bancorp

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)

Comparison of Operating Results for the Three-Month Periods Ended September 30, 2014 and 2013 (continued)

Non-interest Expense

Non-interest expense totaled $2.2 million and $2.0 million for the three months ended September 30, 2014 and 2013, respectively, an increase of $182,000 or 9.2% period to period. The increase was primarily related to higher employee compensation and benefits, which increased $128,000 or 10.2% due to higher salaries and higher retirement expense. Full-time equivalent employees (FTEs) increased from 66 at September 30, 2013 to 70 at September 30, 2014, primarily in response to additional regulatory burden placed on the banks. In addition to higher salary expense, higher costs were also incurred for retirement expense and benefits. Auditing and accounting expense increased $32,000 or 97.0% to $65,000 for the three month period ended September 30, 2014, primarily because of increased costs associated with internal control activities in 2014 as compared to 2013. Foreclosure and OREO expenses (net) totaled $53,000 for the recently ended quarter compared to $20,000 for the prior year period.

Federal Income Tax Expense

Federal income taxes expense totaled $203,000 for the three months ended September 30, 2014, compared to $206,000 in the prior year period. The effective tax rates were 32.8% for each of the three-month periods ended September 30, 2014 and 2013, respectively.

32

Kentucky First Federal Bancorp

ITEM 3: Quantitative and Qualitative Disclosures About Market Risk

This item is not applicable as the Company is a smaller reporting company.

ITEM 4: Controls and Procedures

The Company’s Chief Executive Officer and Chief Financial Officer have evaluated the Company’s disclosure controls and procedures (as defined under Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended) as of the end of the period covered by this report, and have concluded that the Company’s disclosure controls and procedures were effective.

The Company’s Chief Executive Officer and Chief Financial Officer have also concluded that there were no significant changes during the quarter ended September 30, 2014, in the Company’s internal control over financial reporting or in other factors that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

33

Kentucky First Federal Bancorp

PART II

ITEM 1. Legal Proceedings

None.

ITEM 1A. Risk Factors

There have been no material changes in the risk factors disclosed in our Annual Report on Form 10-K for the fiscal year ended June 30, 2014.

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds

(c)            The following table sets forth information regarding Company’s repurchases of its common stock during the quarter ended September 30, 2014. 

					Total # of
			Average		shares purchased		Maximum # of shares
	Total		price paid		as part of publicly		that may yet be
	# of shares		per share		announced plans		purchased under
Period	Purchased		(incl commissions)		or programs		the plans or programs
July 1-31, 2014		—	$	—		—		145,000
August 1-31, 2014		—	$	—		—		145,000
September 1-30, 2014		—	$	—		—		145,000

(1)  On January 16, 2014, the Company announded a program (its seventh) to repurchase up to 150,000 shares of its common stock.

ITEM 3. Defaults Upon Senior Securities

Not applicable.

ITEM 4. Mine Safety Disclosures.

Not applicable.

ITEM 5. Other Information

None.

ITEM 6. Exhibits

3.11	Charter of Kentucky First Federal Bancorp
3.22	Bylaws of Kentucky First Federal Bancorp, as amended and restated
4.11	Specimen Stock Certificate of Kentucky First Federal Bancorp
31.1	CEO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	CFO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	CEO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	CFO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.0	The following materials from Kentucky First Federal Bancorp’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2014 formatted in Extensible Business Reporting Language (XBRL): (i) the Consolidated Balance Sheets; (ii) the Consolidated Statements of Income; (iii) the Consolidated Statements of Comprehensive Income; (iv) the Consolidated Statements of Cash Flows; and (v) the related Notes.

(1)	Incorporated herein by reference to the Company’s Registration Statement on Form S-1 (File No. 333-119041).
(2)	Incorporated herein by reference to the Company’s Annual Report on Form 10-K for the year ended June 30, 2012 (File No. 0-51176).

34

Kentucky First Federal Bancorp

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		KENTUCKY FIRST FEDERAL BANCORP
Date:	November 14, 2014	By:	/s/Don D. Jennings
			Don D. Jennings
			Chief Executive Officer
Date:	November 14, 2014	By:	/s/ R. Clay Hulette
			R. Clay Hulette
			Vice President and Chief Financial Officer

35

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Don D. Jennings, certify that:

1.           I have reviewed this Quarterly Report on Form 10-Q of Kentucky First Federal Bancorp;

2.           Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.           Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4           The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.            The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 14, 2014	/s/Don D. Jennings
	Don D. Jennings
	Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION

I, R. Clay Hulette, certify that:

1.           I have reviewed this Quarterly Report on Form 10-Q of Kentucky First Federal Bancorp

2.           Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.           Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4           The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.           The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 14, 2014	/s/R. Clay Hulette
	R. Clay Hulette
	Vice President and Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Kentucky First Federal Bancorp (the "Company") on Form 10-Q for the period ending September 30, 2014 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Don D. Jennings, the Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

/s/Don D. Jennings

Don D. Jennings

Chief Executive Officer

November 14, 2014

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Kentucky First Federal Bancorp (the "Company") on Form 10-Q for the period ending September 30, 2014 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, R. Clay Hulette, the Treasurer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

/s/R. Clay Hulette

R. Clay Hulette

Vice President and Chief Financial Officer

November 14, 2014

XML

Disclosures About Fair Value of Assets and Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-For-Sale Securities	$ 209	$ 247
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-For-Sale Securities	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-For-Sale Securities	209	247
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-For-Sale Securities	0	0
Residential Mortgage Backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-For-Sale Securities	133	136
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-For-Sale Securities	0	0
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-For-Sale Securities	133	136
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-For-Sale Securities	0	0
FHLMC stock [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-For-Sale Securities	76	111
FHLMC stock [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-For-Sale Securities	0	0
FHLMC stock [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-For-Sale Securities	76	111
FHLMC stock [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-For-Sale Securities	$ 0	$ 0

XML

Loans receivable (Details 7) (Residential Real Estate [Member], USD $) In Thousands, unless otherwise specified	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Financing Receivable, Modifications [Line Items]
Financing Receivable, Rate Reduction	$ 0	$ 126
Financing Receivable, Bankruptcies	0	269
Financing Receivable, Troubled Debt Restructuring	0	395
Performing Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Rate Reduction	0	126
Financing Receivable, Bankruptcies	0	208
Financing Receivable, Troubled Debt Restructuring	0	334
Nonperforming Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Rate Reduction	0	0
Financing Receivable, Bankruptcies	0	61
Financing Receivable, Troubled Debt Restructuring	$ 0	$ 61

XML

Investment Securities (Details 1) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
Held-to-maturity Securities, Amortized Cost [Abstract]
Amortized Cost, Within One Year	$ 2,038
Amortized Cost, One to five Years	3,155
Amortized Cost, Mortgage-backed	3,480
Amortized Cost, Total	8,673	9,018
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Fair Value, Within one year	2,041
Fair Value, One to five years	3,147
Fai Value, Mortgage-backed	3,631
Fair Value, Total	$ 8,819	$ 9,195

XML

Disclosures About Fair Value of Assets and Liabilities (Details 3) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2013
Financial assets
Cash and cash equivalents, Carrying Value	$ 10,875	$ 11,511	$ 12,736	$ 16,540
Available-for-sale securities, Carrying Value	209	247
Held-to-maturity securities, Carrying Value	8,673	9,018
Loans held for sale, Carrying Value	206	0
Loans receivable - net, Carrying Value	243,883	246,788
Federal Home Loan Bank stock, Carrying Value	6,482	6,482
Accrued interest receivable, Carrying Value	900	891
Cash and Cash Equivalents, Fair Value	10,875	11,511
Available-for-sale securities, Fair Value	209	247
Held-to-maturity Securities, Fair Value	8,819	9,195
Loans held-for-sale, Fair Value Disclosure	206	0
Loans receivable - net, Fair Value	249,619	253,780
Accrued interest receivable, Fair Value	900	891
Financial liabilities
Deposits, Carrying Value	211,716	213,142
Federal Home Loan Bank advances, Carrying Value	14,188	17,200
Advances by borrowers for taxes and insurance, Carrying Value	867	616
Accrued interest payable, Carrying Value	34	32
Deposits, Fair Value	211,938	213,244
Federal Home Loan Bank advances, Fair Value	15,204	18,303
Advances by borrowers for taxes and insurance, Fair Value	867	616
Accrued interest payable, Fair Value	34	32
Fair Value, Inputs, Level 1 [Member]
Financial assets
Available-for-sale securities, Carrying Value	0	0
Cash and Cash Equivalents, Fair Value	10,875	11,511
Available-for-sale securities, Fair Value	0	0
Financial liabilities
Deposits, Fair Value	77,947	88,854
Advances by borrowers for taxes and insurance, Fair Value	867	616
Accrued interest payable, Fair Value	1
Fair Value, Inputs, Level 2 [Member]
Financial assets
Available-for-sale securities, Carrying Value	209	247
Available-for-sale securities, Fair Value	209	247
Held-to-maturity Securities, Fair Value	8,819	9,195
Loans held-for-sale, Fair Value Disclosure		0
Accrued interest receivable, Fair Value	0	0
Financial liabilities
Deposits, Fair Value	133,991	124,390
Federal Home Loan Bank advances, Fair Value	15,204	18,303
Accrued interest payable, Fair Value	33	32
Fair Value, Inputs, Level 3 [Member]
Financial assets
Available-for-sale securities, Carrying Value	0	0
Available-for-sale securities, Fair Value	0	0
Loans held-for-sale, Fair Value Disclosure	206
Loans receivable - net, Fair Value	249,619	253,780
Accrued interest receivable, Fair Value	900	891
Financial liabilities
Advances by borrowers for taxes and insurance, Fair Value	$ 0	$ 0

XML

Loans receivable (Details 11) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Sep. 30, 2014	Jun. 30, 2014
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	$ 1,478	$ 1,294
New loans purchased	0	0
Accretion of income	(60)	(155)
Reclassifications from nonaccretable difference	0	339
Disposals	(10)	0
Balance at end of year	$ 1,408	$ 1,478

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Basis of Presentation

3 Months Ended

Sep. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

1. Basis of Presentation

The accompanying unaudited consolidated financial statements, which represent the consolidated balance sheets and results of operations of the Company, were prepared in accordance with the instructions for Form 10-Q and, therefore, do not include information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with U.S. generally accepted accounting principles. However, in the opinion of management, all adjustments (consisting of only normal recurring adjustments) which are necessary for a fair presentation of the consolidated financial statements have been included. The results of operations for the three-month period ended September 30, 2014, are not necessarily indicative of the results which may be expected for an entire fiscal year. The consolidated balance sheet as of June 30, 2014 has been derived from the audited consolidated balance sheet as of that date. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Form 10-K annual report for 2014 filed with the Securities and Exchange Commission.

Principles of Consolidation - The consolidated financial statements include the accounts of the Company, Frankfort First, and its wholly-owned banking subsidiaries, First Federal of Hazard and First Federal of Frankfort (collectively hereinafter “the Banks”). All intercompany transactions and balances have been eliminated in consolidation.

Reclassifications - Certain amounts presented in prior periods have been reclassified to conform to the current period presentation. Such reclassifications had no impact on prior years’ net income.

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Disclosures About Fair Value of Assets and Liabilities (Details Textual) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	$ 70,000	$ 200,000
Impaired Loans Financing Receivable Specific Allowance	9,000	14,000
SEC Schedule III, Real Estate, Gross	$ 801,000	$ 1,200,000

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Loans receivable (Details 2) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Individually evaluated	$ 1,511	$ 2,159
Loans individually evaluated for impairment, Acquired with deteriorated credit quality	3,568	3,776
Loans individually evaluated for impairment, Ending loans balance	5,079	5,935
Loans individually evaluated for impairment, Total allowance	9	14
Loans collectively evaluated for impairment, Ending loans balance	240,788	243,226
Loans collectively evaluated for impairment, Total allowance	1,485	1,459
Loans receivable, Recorded investments	245,867	249,161		249,161
Allowance for loan losses	1,494	1,473	1,386	1,310
Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance	9	14
Loans collectively evaluated for impairment, Total allowance	1,285	1,259
Allowance for loan losses	1,294	1,273
Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance	0	0
Loans collectively evaluated for impairment, Total allowance	200	200
Allowance for loan losses	200	200
Residential Real Estate One To Four Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Individually evaluated	1,511	2,159
Loans individually evaluated for impairment, Acquired with deteriorated credit quality	2,587	2,735
Loans individually evaluated for impairment, Ending loans balance	4,098	4,894
Loans individually evaluated for impairment, Total allowance	9	14
Loans collectively evaluated for impairment, Ending loans balance	189,932	191,487
Loans collectively evaluated for impairment, Total allowance	1,011	989
Loans receivable, Recorded investments	194,030	196,381		196,381
Allowance for loan losses	1,020	1,003	937	871
Residential Real Estate One To Four Family [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance	9	14
Loans collectively evaluated for impairment, Total allowance	1,011	989
Residential Real Estate One To Four Family [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance	0	0
Loans collectively evaluated for impairment, Total allowance	0	0
Residential Real Estate Multi Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Ending loans balance	13,640	14,002
Loans collectively evaluated for impairment, Total allowance	73	73
Loans receivable, Recorded investments	13,640	14,002		14,002
Allowance for loan losses	73	73	65	63
Residential Real Estate Multi Family [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Total allowance	73	73
Residential Real Estate Multi Family [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Total allowance	0	0
Residential Real Estate Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Ending loans balance	1,965	2,122
Loans collectively evaluated for impairment, Total allowance	11	11
Loans receivable, Recorded investments	1,965			2,122
Allowance for loan losses	11	11	9	8
Residential Real Estate Construction [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Total allowance	11	11
Residential Real Estate Construction [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Total allowance	0	0
Land [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Individually evaluated	0
Loans individually evaluated for impairment, Acquired with deteriorated credit quality	421
Loans individually evaluated for impairment, Ending loans balance	421
Loans collectively evaluated for impairment, Ending loans balance	1,978	1,918
Loans collectively evaluated for impairment, Total allowance	11	10
Loans receivable, Recorded investments	2,399			2,362
Allowance for loan losses	11	10	11	12
Land [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Total allowance	11	10
Land [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Total allowance	0	0
Farm [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Individually evaluated		0
Loans individually evaluated for impairment, Acquired with deteriorated credit quality		444
Loans individually evaluated for impairment, Ending loans balance		444
Loans individually evaluated for impairment, Total allowance		0
Loans collectively evaluated for impairment, Ending loans balance	1,627	1,644
Loans collectively evaluated for impairment, Total allowance	9	9
Loans receivable, Recorded investments	1,627			1,644
Allowance for loan losses	9	9	8	6
Farm [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance		0
Loans collectively evaluated for impairment, Total allowance	9	9
Farm [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance		0
Loans collectively evaluated for impairment, Total allowance	0	0
Non residential real estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Individually evaluated	0	0
Loans individually evaluated for impairment, Acquired with deteriorated credit quality	514	529
Loans individually evaluated for impairment, Ending loans balance	514	529
Loans individually evaluated for impairment, Total allowance	0	0
Loans collectively evaluated for impairment, Ending loans balance	21,187	21,416
Loans collectively evaluated for impairment, Total allowance	114	112
Loans receivable, Recorded investments	21,701			21,945
Non residential real estate [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance	0	0
Loans collectively evaluated for impairment, Total allowance	114	112
Non residential real estate [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance	0	0
Loans collectively evaluated for impairment, Total allowance	0	0
Commercial and industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Individually evaluated		0
Loans individually evaluated for impairment, Acquired with deteriorated credit quality		68
Loans individually evaluated for impairment, Ending loans balance		68
Loans individually evaluated for impairment, Total allowance		0
Commercial and industrial [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance		0
Commercial and industrial [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance		0
Commercial Nonmortgage [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Individually evaluated	0
Loans individually evaluated for impairment, Acquired with deteriorated credit quality	46
Loans individually evaluated for impairment, Ending loans balance	46
Loans individually evaluated for impairment, Total allowance	0
Loans collectively evaluated for impairment, Ending loans balance	1,850	2,012
Loans collectively evaluated for impairment, Total allowance	10	11
Commercial Nonmortgage [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance	0
Loans collectively evaluated for impairment, Total allowance	10	11
Commercial Nonmortgage [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance	0
Loans collectively evaluated for impairment, Total allowance	0	0
Loans on deposits [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Ending loans balance	2,564	2,564
Loans collectively evaluated for impairment, Total allowance	14	13
Loans receivable, Recorded investments		2,564
Allowance for loan losses	14	13	12	12
Loans on deposits [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Total allowance	14	13
Loans on deposits [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Total allowance	0	0
Home equity [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Ending loans balance	5,617	5,359
Loans collectively evaluated for impairment, Total allowance	30	28
Loans receivable, Recorded investments		5,359
Allowance for loan losses	30	28	26	25
Home equity [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Total allowance	30	28
Home equity [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Total allowance	0	0
Unsecured [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Individually evaluated	0
Loans individually evaluated for impairment, Acquired with deteriorated credit quality	0
Loans individually evaluated for impairment, Ending loans balance	0
Loans individually evaluated for impairment, Total allowance	0
Loans collectively evaluated for impairment, Ending loans balance	362	638
Loans collectively evaluated for impairment, Total allowance	2	3
Loans receivable, Recorded investments		638
Allowance for loan losses	2	3	2	6
Unsecured [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance	0
Loans collectively evaluated for impairment, Total allowance	2	3
Unsecured [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance	0
Loans collectively evaluated for impairment, Total allowance	0	0
Unallocated [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Ending loans balance	0	0
Loans collectively evaluated for impairment, Total allowance	200	200
Allowance for loan losses	200	200	200	200
Unallocated [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Total allowance	0	0
Unallocated [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans collectively evaluated for impairment, Total allowance	200	200
Commercial Nonmortgage and Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans receivable, Recorded investments	1,896	2,080
Allowance for loan losses	10	11	14	13
Automobile [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Individually evaluated	0
Loans individually evaluated for impairment, Acquired with deteriorated credit quality	0
Loans individually evaluated for impairment, Ending loans balance	0
Loans individually evaluated for impairment, Total allowance	0
Loans collectively evaluated for impairment, Ending loans balance	66	64
Loans collectively evaluated for impairment, Total allowance	0	0
Loans receivable, Recorded investments		64
Allowance for loan losses	0	0	0	0
Automobile [Member] | Ending allowance attributed to loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance	0
Loans collectively evaluated for impairment, Total allowance	0	0
Automobile [Member] | Unallocated Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans individually evaluated for impairment, Total allowance	0
Loans collectively evaluated for impairment, Total allowance	$ 0	$ 0

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Loans receivable (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	$ 1,473	$ 1,310
Allowance for Loan and Lease Losses, Provision for loan loses	56	282
Allowance for Loan and Lease Losses, Loans charged off	37	207
Allowance for Loan and Lease Losses, Recoveries	2	1
Allowances for loan and lease losses, Ending balance	1,494	1,386
Residential Real Estate One To Four Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	1,003	871
Allowance for Loan and Lease Losses, Provision for loan loses	52	273
Allowance for Loan and Lease Losses, Loans charged off	37	207
Allowance for Loan and Lease Losses, Recoveries	2	0
Allowances for loan and lease losses, Ending balance	1,020	937
Residential Real Estate Multi Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	73	63
Allowance for Loan and Lease Losses, Provision for loan loses	0	2
Allowance for Loan and Lease Losses, Loans charged off	0	0
Allowance for Loan and Lease Losses, Recoveries	0	0
Allowances for loan and lease losses, Ending balance	73	65
Residential Real Estate Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	11	8
Allowance for Loan and Lease Losses, Provision for loan loses	0	1
Allowance for Loan and Lease Losses, Loans charged off	0	0
Allowance for Loan and Lease Losses, Recoveries	0	0
Allowances for loan and lease losses, Ending balance	11	9
Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	10	12
Allowance for Loan and Lease Losses, Provision for loan loses	1	(1)
Allowance for Loan and Lease Losses, Loans charged off		0
Allowance for Loan and Lease Losses, Recoveries		0
Allowances for loan and lease losses, Ending balance	11	11
Non residential real estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	112	94
Allowance for Loan and Lease Losses, Provision for loan loses	2	8
Allowance for Loan and Lease Losses, Loans charged off	0	0
Allowance for Loan and Lease Losses, Recoveries	0	0
Allowances for loan and lease losses, Ending balance	114	102
Farm [Member]
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	9	6
Allowance for Loan and Lease Losses, Provision for loan loses	0	2
Allowance for Loan and Lease Losses, Loans charged off	0	0
Allowance for Loan and Lease Losses, Recoveries	0	0
Allowances for loan and lease losses, Ending balance	9	8
Commercial nonmortgage [Member]
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	11	13
Allowance for Loan and Lease Losses, Provision for loan loses	(1)	1
Allowance for Loan and Lease Losses, Loans charged off	0	0
Allowance for Loan and Lease Losses, Recoveries	0	0
Allowances for loan and lease losses, Ending balance	10	14
Unsecured [Member]
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	3	6
Allowance for Loan and Lease Losses, Provision for loan loses	(1)	(5)
Allowance for Loan and Lease Losses, Loans charged off	0	0
Allowance for Loan and Lease Losses, Recoveries	0	1
Allowances for loan and lease losses, Ending balance	2	2
Loans on deposits [Member]
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	13	12
Allowance for Loan and Lease Losses, Provision for loan loses	1	0
Allowance for Loan and Lease Losses, Loans charged off	0	0
Allowance for Loan and Lease Losses, Recoveries	0	0
Allowances for loan and lease losses, Ending balance	14	12
Home equity [Member]
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	28	25
Allowance for Loan and Lease Losses, Provision for loan loses	2	1
Allowance for Loan and Lease Losses, Loans charged off	0	0
Allowance for Loan and Lease Losses, Recoveries	0	0
Allowances for loan and lease losses, Ending balance	30	26
Unallocated [Member]
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	200	200
Allowance for Loan and Lease Losses, Provision for loan loses	0	0
Allowance for Loan and Lease Losses, Loans charged off	0	0
Allowance for Loan and Lease Losses, Recoveries	0	0
Allowances for loan and lease losses, Ending balance	200	200
Automobile [Member]
Financing Receivable, Recorded Investment [Line Items]
Balance at beginning of year	0	0
Allowance for Loan and Lease Losses, Provision for loan loses	0	0
Allowance for Loan and Lease Losses, Loans charged off	0	0
Allowance for Loan and Lease Losses, Recoveries	0	0
Allowances for loan and lease losses, Ending balance	$ 0	$ 0

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Other Comprehensive Income (Loss) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Other Comprehensive Income Loss [Line Items]
Unrealized holding gains (losses) on available-for-sale securities	$ (35)	$ (3)
Tax effect	11	1
Net-of-tax amount	$ (24)	$ (2)

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Loans receivable (Details 3) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Financing Receivable, Impaired [Line Items]
Impaired loans, Unpaid Principal Balance and Recorded Investment, With No Related Allowance	$ 5,009	$ 7,016
Impaired loans, Unpaid Principal Balance and Recorded Investment, With An Allowance	5,079	7,226
Impaired loans, Allowance for Loan Losses Allocated	9	14
Impaired Financing Receivable With No Related Allowance For Loan Losses Allocated	0	0
Impaired loans, Average Recorded Investment, With No Related Allowance	5,336	7,840
Impaired loans, Average Recorded Investment	5,471	8,052
Impaired loans, Interest Income Recognized, With No Related Allowance	30	0
Impaired loans, Interest Income Recognized	31	0
Impaired loans, Cash Basis Income Recognized, With No Related Allowance	30	0
Impaired loans, Cash Basis Income Recognized	31	0
Residential Real Estate One To Four Family [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans, Unpaid Principal Balance and Recorded Investment, With No Related Allowance	1,441	3,207
Impaired loans, Unpaid Principal Balance and Recorded Investment, With An Allowance	70	210
Impaired loans, Allowance for Loan Losses Allocated	9	14
Impaired Financing Receivable With No Related Allowance For Loan Losses Allocated	0	0
Impaired loans, Average Recorded Investment, With No Related Allowance	1,701	3,854
Impaired loans, Average Recorded Investment, With An Allowance	135	0
Impaired loans, Interest Income Recognized, With No Related Allowance	1	0
Impaired loans, Interest Income Recognized, With An Allowance	1	212
Impaired loans, Cash Basis Income Recognized, With No Related Allowance	1	0
Impaired loans, Cash Basis Income Recognized, With An Allowance	1	0
Purchased Credit Impaired Loans [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans, Unpaid Principal Balance and Recorded Investment, With No Related Allowance	3,568	3,809
Impaired Financing Receivable With No Related Allowance For Loan Losses Allocated	0	0
Impaired loans, Average Recorded Investment, With No Related Allowance	3,635	3,986
Impaired loans, Interest Income Recognized, With No Related Allowance	29	0
Impaired loans, Cash Basis Income Recognized, With No Related Allowance	$ 29	$ 0

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Loans receivable (Details 4) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
Financing Receivable, Modifications [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual	$ 5,916	$ 6,227
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	2,442	3,513
Residential Real Estate One To Four Family [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual	5,171	5,767
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	2,442	3,513
Non residential real estate [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual	382	384
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0	0
Commercial Nonmortgage [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual	47	47
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0	0
Consumer [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual	28	29
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0	0
Land [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual	288	0
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	$ 0	$ 0

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Plan of Reorganization

3 Months Ended

Sep. 30, 2014

Plan of Reorganization [Abstract]

Plan Of Reorganization Disclosure [Text Block]

On March 2, 2005, First Federal Savings and Loan Association of Hazard (“First Federal of Hazard” or the “Association”) completed a Plan of Reorganization (the “Plan” or the “Reorganization”) pursuant to which the Association reorganized into the mutual holding company form of ownership with the incorporation of a stock holding company, Kentucky First Federal Bancorp (the “Company”) as parent of the Association. Coincident with the Reorganization, the Association converted to the stock form of ownership, followed by the issuance of all the Association’s outstanding stock to Kentucky First Federal Bancorp. Completion of the Plan of Reorganization culminated with Kentucky First Federal Bancorp issuing 4,727,938 common shares, or 55% of its common shares, to First Federal Mutual Holding Company (“First Federal MHC”), a federally chartered mutual holding company, with 2,127,572 common shares, or 24.8% of its shares offered for sale at $10.00 per share to the public and a newly formed Employee Stock Ownership Plan (“ESOP”). The Company received net cash proceeds of $16.1 million from the public sale of its common shares. The Company’s remaining 1,740,554 common shares were issued as part of the $31.4 million cash and stock consideration paid for 100% of the common shares of Frankfort First Bancorp (“Frankfort First”) and its wholly-owned subsidiary, First Federal Savings Bank of Frankfort (“First Federal of Frankfort”). The acquisition was accounted for using the purchase method of accounting and resulted in the recordation of goodwill and other intangible assets totaling $15.4 million.

On December 31, 2012, the Company completed its acquisition of CKF Bancorp, Inc. (“CKF Bancorp”), the parent company of Central Kentucky Federal Savings Bank (“Central Kentucky FSB”), pursuant to the provisions of the Agreement of Merger dated as of November 3, 2011 and amended as of September 28, 2012.

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Loans receivable (Details 6) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Sep. 30, 2014	Jun. 30, 2014
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Modifications, Recorded Investment	$ 1,800	$ 2,000
Residential Real Estate One To Four Family [Member] | Troubled Debt Restructuring [Member]
Financing Receivable, Recorded Investment [Line Items]
TDRs, Number of Loans	38	39
TDRs, Pre Modification Outstanding Recorded Investment	2,122	2,230
TDRs, Post Modification Outstanding Recorded Investment	1,824	1,997
Residential Real Estate One To Four Family [Member] | Troubled Debt Restructuring [Member] | Performing Financing Receivable [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,627	1,621
Residential Real Estate One To Four Family [Member] | Troubled Debt Restructuring [Member] | Nonperforming Financing Receivable [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Modifications, Recorded Investment	$ 197	$ 376

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Disclosures About Fair Value of Assets and Liabilities (Details 1) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	$ 209	$ 247
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	209	247
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	0	0
Impaired Loans [Member] | Residential Real Estate One To Four Family [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	70	186
Impaired Loans [Member] | Residential Real Estate One To Four Family [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	0	0
Impaired Loans [Member] | Residential Real Estate One To Four Family [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	0	0
Impaired Loans [Member] | Residential Real Estate One To Four Family [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	70	186
Other Real Estate Owned [Member] | Residential Real Estate One To Four Family [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	786	1,140
Other Real Estate Owned [Member] | Residential Real Estate One To Four Family [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	0	0
Other Real Estate Owned [Member] | Residential Real Estate One To Four Family [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	0	0
Other Real Estate Owned [Member] | Residential Real Estate One To Four Family [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	786	1,140
Other Real Estate Owned [Member] | Land [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	15	15
Other Real Estate Owned [Member] | Land [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	0	0
Other Real Estate Owned [Member] | Land [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	0	0
Other Real Estate Owned [Member] | Land [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, Carrying Value	$ 15	$ 15

XML

CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
ASSETS
Cash and due from financial institutions	$ 4,070	$ 4,191
Interest-bearing demand deposits	6,805	7,320
Cash and cash equivalents	10,875	11,511
Securities available for sale	209	247
Securities held-to-maturity, at amortized cost- approximate fair value of $8,819 and $9,195 at September 30, 2014 and June 30, 2014, respectively	8,673	9,018
Loans held for sale	206	0
Loans, net of allowance of $1,494 and $1,473 at September 30, 2014 and June 30, 2014, respectively	243,883	246,788
Real estate owned, net	1,803	1,846
Premises and equipment, net	4,632	4,629
Federal Home Loan Bank stock, at cost	6,482	6,482
Accrued interest receivable	900	891
Bank-owned life insurance	2,902	2,878
Goodwill	14,507	14,507
Prepaid federal income taxes	83	227
Prepaid expenses and other assets	585	631
Total assets	295,740	299,655
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits	211,716	213,142
Federal Home Loan Bank advances	14,188	17,200
Advances by borrowers for taxes and insurance	867	616
Accrued interest payable	34	32
Deferred federal income taxes	256	210
Deferred revenue	628	631
Other liabilities	834	619
Total liabilities	228,523	232,450
Commitments and contingencies	0	0
Shareholders' equity
Preferred stock, 500,000 shares authorized, $.01 par value; no shares issued and outstanding	0	0
Common stock, 20,000,000 shares authorized, $.01 par value; 8,596,064 shares issued	86	86
Additional paid-in capital	34,624	34,671
Retained earnings	34,063	34,027
Unearned employee stock ownership plan (ESOP), 136,318 shares and 140,987 shares at September 30, 2014 and June 30, 2014, respectively	(1,363)	(1,410)
Treasury shares at cost, 27,886 common shares at September 30, 2014 and June 30, 2014	(239)	(239)
Accumulated other comprehensive income	46	70
Total shareholders' equity	67,217	67,205
Total liabilities and shareholders' equity	$ 295,740	$ 299,655

XML

Other Comprehensive Income (Loss) (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Other Comprehensive Income Loss [Line Items]
Accumulated other comprehensive income (loss), net of tax, Balance at June 30, 2014	$ 70
Unrealized gains on available-for-sale securities, Current Year Change	(24)	(2)
Accumulated other comprehensive income (loss), net of tax, Balance at September 30, 2014	$ 46

XML

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Parenthetical] (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Tax portion of unrealized holding gains (losses) on securities designated as available for sale	$ 11	$ 1

XML

Loans receivable (Details 9) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014	Jun. 30, 2013
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	$ 245,867	$ 249,161	$ 249,161
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	47,882	48,661
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	4,601	3,896
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	12,744	14,438
Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Not Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	180,640	182,166
Residential Real Estate One To Four Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	194,030	196,381	196,381
Residential Real Estate One To Four Family [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Residential Real Estate One To Four Family [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	3,657	2,928
Residential Real Estate One To Four Family [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	9,733	11,287
Residential Real Estate One To Four Family [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Residential Real Estate One To Four Family [Member] | Not Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	180,640	182,166
Residential Real Estate Multi Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	13,640	14,002	14,002
Residential Real Estate Multi Family [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	13,640	14,002
Residential Real Estate Multi Family [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Residential Real Estate Multi Family [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Residential Real Estate Multi Family [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Residential Real Estate Multi Family [Member] | Not Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Residential Real Estate Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	1,965		2,122
Residential Real Estate Construction [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	1,965	2,122
Residential Real Estate Construction [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Residential Real Estate Construction [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Residential Real Estate Construction [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Residential Real Estate Construction [Member] | Not Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Non residential real estate [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	18,727	18,920
Non residential real estate [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	941	965
Non residential real estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	2,033	2,060
Non residential real estate [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Non residential real estate [Member] | Not Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	2,399		2,362
Land [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	1,496	1,366
Land [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Land [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	903	996
Land [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment		0
Land [Member] | Not Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment		0
Farm [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	1,627		1,644
Farm [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	1,627	1,644
Farm [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Farm [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Farm [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Farm [Member] | Not Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Loans on deposits [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment		2,564
Loans on deposits [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	2,564	2,564
Loans on deposits [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Loans on deposits [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Loans on deposits [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Loans on deposits [Member] | Not Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Consumer and Other Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	8,609
Home equity [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment		5,359
Home equity [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	5,617	5,359
Home equity [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Home equity [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Home equity [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Home equity [Member] | Not Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Unsecured [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment		638
Unsecured [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	359	606
Unsecured [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	3	3
Unsecured [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	29
Unsecured [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Unsecured [Member] | Not Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Commercial Nonmortgage [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	1,849	2,014
Commercial Nonmortgage [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Commercial Nonmortgage [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	47	66
Commercial Nonmortgage [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Commercial Nonmortgage [Member] | Not Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Automobile [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment		64
Automobile [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	38	64
Automobile [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Automobile [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	28	0
Automobile [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	0	0
Automobile [Member] | Not Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	$ 0	$ 0

XML

Earnings Per Share (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income allocated to common shareholders, basic and diluted	$ 416	$ 423
Weighted-average common shares outstanding, basic and diluted	8,383,191	8,369,515

XML

Loans receivable (Details 10) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2013
Financing Receivable, Recorded Investment [Line Items]
Outstanding balance	$ 3,568	$ 3,776
Residential Real Estate One To Four Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Outstanding balance	2,587	2,735
Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Outstanding balance	421	444
Non residential real estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Outstanding balance	514	529
Commercial Nonmortgage [Member]
Financing Receivable, Recorded Investment [Line Items]
Outstanding balance	$ 46	$ 68

XML

Investment Securities (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Sep. 30, 2014	Jun. 30, 2014
Available-for-sale Securities
Available-for-sale Securities, Amortized cost	$ 139	$ 142
Available-for-sale Securities, Gross unrealized/ unrecognized gains	70	105
Available-for-sale Securities, Gross unrealized/ unrecognized Losses	0	0
Available-for-sale Securities, Estimated fair value	209	247
Held-to-maturity Securities
Held-to-maturity Securities, Amortized cost	8,673	9,018
Held-to-maturity Securities, Gross unrealized/ unrecognized gains	156	183
Held-to-maturity Securities, Gross unrealized/ unrecognized losses	10	6
Held-to-maturity Securities, Estimated fair value	8,819	9,195
Agency mortgage-backed:residential [Member]
Available-for-sale Securities
Available-for-sale Securities, Amortized cost	131	134
Available-for-sale Securities, Gross unrealized/ unrecognized gains	2	2
Available-for-sale Securities, Gross unrealized/ unrecognized Losses	0	0
Available-for-sale Securities, Estimated fair value	133	136
Held-to-maturity Securities
Held-to-maturity Securities, Amortized cost	3,480	3,792
Held-to-maturity Securities, Gross unrealized/ unrecognized gains	152	180
Held-to-maturity Securities, Gross unrealized/ unrecognized losses	1	1
Held-to-maturity Securities, Estimated fair value	3,631	3,971
FHLMC stock [Member]
Available-for-sale Securities
Available-for-sale Securities, Amortized cost	8	8
Available-for-sale Securities, Gross unrealized/ unrecognized gains	68	103
Available-for-sale Securities, Gross unrealized/ unrecognized Losses	0	0
Available-for-sale Securities, Estimated fair value	76	111
Agency bonds [Member]
Held-to-maturity Securities
Held-to-maturity Securities, Amortized cost	5,193	5,226
Held-to-maturity Securities, Gross unrealized/ unrecognized gains	4	3
Held-to-maturity Securities, Gross unrealized/ unrecognized losses	9	5
Held-to-maturity Securities, Estimated fair value	$ 5,188	$ 5,224

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:
Net income	$ 416	$ 423
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	66	78
Accretion of purchased loan discount	(60)	0
Amortization of purchased loan premium	4	0
Accretion of deferred loan origination costs	(5)	0
Amortization (accretion) of premiums on investment securities	41	(64)
Accretion of premiums on Federal Home Loan Bank advances	0	(42)
Accretion of premiums on deposits	(98)	(120)
Net gain on sale of loans	(6)	(35)
Net loss on sale of real estate owned	1	10
Valuation adjustments of real estate owned	0	17
Deferred gain on sale of real estate owned	(3)	23
ESOP compensation expense	39	38
Earnings on bank-owned life insurance	(23)	(23)
Provision for loan losses	56	282
Origination of loans held for sale	(326)	(1,073)
Proceeds from loans held for sale	85	1,294
Increase (decrease) in cash, due to changes in:
Accrued interest receivable	(9)	(12)
Prepaid expenses and other assets	46	47
Accrued interest payable	2	2
Other liabilities	215	122
Federal income taxes	203	3
Net cash provided by operating activities	644	970
Securities maturities, prepayments and calls:
Held to maturity	304	1,147
Available for sale	2	22
Loans originated for investment, net of principal collected	2,625	3,636
Proceeds from sale of real estate owned	327	0
Additions to premises and equipment, net	(69)	(86)
Net cash provided by investing activities	3,189	4,719
Cash flows from financing activities:
Net change in deposits	(1,328)	(3,840)
Payments by borrowers for taxes and insurance, net	251	241
Repayments on Federal Home Loan Bank advances	(3,012)	(5,534)
Dividends paid on common stock	(380)	(360)
Net cash used in financing activities	(4,469)	(9,493)
Net increase (decrease) in cash and cash equivalents	(636)	(3,804)
Beginning cash and cash equivalents	11,511	16,540
Ending cash and cash equivalents	$ 10,875	$ 12,736

XML

CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $) In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
Held-to-maturity securities, fair value (in dollars)	$ 8,819	$ 9,195
Loans and leases receivable, allowance (in dollars)	$ 1,494	$ 1,473
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	8,596,064	8,596,064
Treasury stock, shares	27,886	27,886
Employee Stock Ownership Plan (ESOP), Number of Committed-to-be-Released Shares	136,318	140,987

XML

Loans receivable (Tables)

3 Months Ended

Sep. 30, 2014

Receivables [Abstract]

Schedule Of Classification Of Loans Receivable [Table Text Block]

The composition of the loan portfolio was as follows:

	September 30,		June 30,
(in thousands)	2014		2014
Residential real estate
One- to four-family	$	194,030	$	196,381
Multi-family		13,640		14,002
Construction		1,965		2,122
Land		2,399		2,362
Farm		1,627		1,644
Nonresidential real estate		21,701		21,945
Commercial nonmortgage		1,896		2,080
Consumer and other:
Loans on deposits		2,564		2,564
Home equity		5,617		5,359
Automobile		66		64
Unsecured		362		638
		245,867		249,161
Undisbursed portion of loans in process		(588)		(952)
Deferred loan origination fees (cost)		98		52
Allowance for loan losses		(1,494)		(1,473)
	$	243,883	$	246,788

Allowance for Credit Losses on Financing Receivables [Table Text Block]

The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2014:

(in thousands)	Beginning balance		Provision for loan losses		Loans charged off		Recoveries		Ending balance
Residential real estate:
One- to four-family	$	1,003	$	52	$	37	$	2	$	1,020
Multi-family		73		—		—		—		73
Construction		11		—		—		—		11
Land		10		1						11
Farm		9		—		—		—		9
Nonresidential real estate		112		2		—		—		114
Commercial nonmortgage		11		(1)		—		—		10
Consumer and other:
Loans on deposits		13		1		—		—		14
Home equity		28		2		—		—		30
Automobile		—		—		—		—		—
Unsecured		3		(1)		—		—		2
Unallocated		200		—		—		—		200
Totals	$	1,473	$	56	$	37	$	2	$	1,494

The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2013:

(in thousands)	Beginning balance		Provision for loan losses		Loans charged off		Recoveries		Ending balance
Residential real estate:
One- to four-family	$	871	$	273	$	207	$	—	$	937
Multi-family		63		2		—		—		65
Construction		8		1		—		—		9
Land		12		(1)		—		—		11
Farm		6		2		—		—		8
Nonresidential real estate		94		8		—		—		102
Commercial nonmortgage		13		1		—		—		14
Consumer and other:
Loans on deposits		12		—		—		—		12
Home equity		25		1		—		—		26
Automobile		—		—		—		—		—
Unsecured		6		(5)		—		1		2
Unallocated		200		—		—		—		200
Totals	$	1,310	$	282	$	207	$	1	$	1,386

Schedule Of Impaired Loans Receivable Additional Information [Table Text Block]

The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of September 30, 2014. The recorded investment in loans excludes accrued interest receivable and deferred loan costs, net due to immateriality.

September 30, 2014:
(in thousands)	Loans individually evaluated		Loans acquired with deteriorated credit quality		Ending loans balance		Ending allowance attributed to loans		Unallocated allowance		Total allowance
Loans individually evaluated for impairment:
Residential real estate:
One- to four-family	$	1,511	$	2,587	$	4,098	$	9	$	—	$	9
Land		—		421		421
Nonresidential real estate		—		514		514		—		—		—
Commercial nonmortgage		—		46		46		—		—		—
Consumer and other
Automobile		—		—		—		—		—		—
Unsecured		—		—		—		—		—		—
		1,511		3,568		5,079		9		—		9
Loans collectively evaluated for impairment:
Residential real estate:
One- to four-family					$	189,932	$	1,011	$	—	$	1,011
Multi-family						13,640		73		—		73
Construction						1,965		11		—		11
Land						1,978		11		—		11
Farm						1,627		9		—		9
Nonresidential real estate						21,187		114		—		114
Commercial nonmortgage						1,850		10		—		10
Consumer and other
Loans on deposits						2,564		14		—		14
Home equity						5,617		30		—		30
Automobile						66		—		—		—
Unsecured						362		2		—		2
Unallocated						—		—		200		200
						240,788		1,285		200		1,485
					$	245,867	$	1,294	$	200	$	1,494

The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of June 30, 2014.

June 30, 2014:
(in thousands)	Loans individually evaluated		Loans acquired with deteriorated credit quality		Ending loans balance		Ending allowance attributed to loans		Unallocated allowance		Total allowance
Loans individually evaluated for impairment:
Residential real estate:
One- to four-family	$	2,159	$	2,735	$	4,894	$	14	$	—	$	14
Farm		—		444		444		—		—		—
Nonresidential real estate		—		529		529		—		—		—
Commercial and industrial		—		68		68		—		—		—
		2,159		3 776		5,935		14		—		14
Loans collectively evaluated for impairment:
Residential real estate:
One- to four-family					$	191,487	$	989	$	—	$	989
Multi-family						14,002		73		—		73
Construction						2,122		11		—		11
Land						1,918		10		—		10
Farm						1,644		9		—		9
Nonresidential real estate						21,416		112		—		112
Commercial nonmortgage						2,012		11		—		11
Consumer and other
Loans on deposits						2,564		13		—		13
Home equity						5,359		28		—		28
Automobile						64		—		—		—
Unsecured						638		3		—		3
Unallocated						—		—		200		200
						243,226		1,259		200		1,459
					$	249,161	$	1,273	$	200	$	1,473

Impaired Financing Receivables [Table Text Block]

The following table presents loans individually evaluated for impairment by class of loans as of and for the three months ended September 30, 2014 and 2013:

September 30, 2014:

(in thousands)	Unpaid Principal Balance and Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
With no related allowance recorded:
One- to four-family	$	1,441	$	—	$	1,701	$	1	$	1
Purchased credit-impaired loans		3,568		—		3,635		29		29
		5,009		—		5,336		30		30
With an allowance recorded:
One- to four-family		70		9		135		1		1
	$	5,079	$	9	$	5,471	$	31	$	31

September 30, 2013:

(in thousands)	Unpaid Principal Balance and Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
With no related allowance recorded:
One- to four-family	$	3,207	$	—	$	3,854	$	—	$	—
Purchased credit-impaired loans		3,809		—		3,986		—		—
		7,016		—		7,840		—		—
With an allowance recorded:
One- to four-family		210		14		212		—		—
	$	7,226	$	14	$	8,052	$	—	$	—

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of September 30, 2014, and June 30, 2014:

	September 30, 2014				June 30, 2014
(in thousands)	Nonaccrual		Loans Past Due Over 90 Days Still Accruing		Nonaccrual		Loans Past Due Over 90 Days Still Accruing
One- to four-family residential real estate	$	5,171	$	2,442	$	5,767	$	3,513
Land		288		—		—		—
Nonresidential real estate		382		—		384		—
Commercial nonmortgage		47		—		47		—
Consumer		28		—		29		—
	$	5,916	$	2,442	$	6,227	$	3,513

Schedule Of Troubled Debt Restructurings Modified Terms [Table Text Block]

The following table presents TDRs by loan type at September 30, 2014 and June 30, 2014, and their performance, by modification type:

(dollars in thousands)	Number of Loans		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		TDRs Performing to Modified Terms		TDRs Not Performing to Modified Terms
September 30, 2014
Residential Real Estate:
1-4 Family		38	$	2,122	$	1,824	$	1,627	$	197
June 30, 2014
Residential Real Estate:
1-4 Family		39	$	2,230	$	1,997	$	1,621	$	376

Schedule Of Types Troubled Debt Restructuring Loan Modifications [Table Text Block]

The following table summarizes TDR loan modifications for the three months ended September 30, 2014 and 2013, and their performance, by modification type:

(in thousands)	Troubled Debt Restructurings Performing to Modified Terms		Troubled Debt Restructurings Not Performing to Modified Terms		Total Troubled Debt Restructurings
Three months ended September 30, 2014
Residential real estate:
Rate reduction	$	—	$	—	$	—
Bankruptcies		—		—		—
Total troubled debt restructures	$	—	$	—	$	—
Three months ended September 30, 2013
Residential real estate:
Rate reduction	$	126	$	—	$	126
Bankruptcies		208		61		269
Total troubled debt restructures	$	334	$	61	$	395

Past Due Financing Receivables [Table Text Block]

The following table presents the aging of the principal balance outstanding in past due loans as of September 30, 2014, by class of loans:

(in thousands)	30-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Loans Not Past Due		Total
Residential real estate:
One-to four-family	$	4,247	$	5,561	$	9,808	$	184,222	$	194,030
Multi-family		—		—		—		13,640		13,640
Construction		—		—		—		1,965		1,965
Land		566		27		593		1,806		2,399
Farm		—		—		—		1,627		1,627
Nonresidential real estate		—		195		195		21,506		21,701
Commercial non-mortgage		—		—		—		1,896		1,896
Consumer and other		92		—		92		8,578		8,670
Total	$	4,905	$	5,783	$	10,688	$	235,179	$	245,867

The following tables present the aging of the principal balance outstanding in past due loans as of June 30, 2014, by class of loans:

(in thousands)	30-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Loans Not Past Due		Total
Residential real estate:
One-to four-family	$	4,481	$	9,060	$	13,541	$	182,840	$	196,381
Multi-family		—		—		—		14,002		14,002
Construction		343		—		343		1,779		2,122
Land		—		364		364		1,998		2,362
Farm		—		—		—		1,644		1,644
Nonresidential real estate		375		396		771		21,174		21,945
Commercial and industrial		—		88		88		1,992		2,080
Consumer and other:
Loans on deposits		—		—		—		2,564		2,564
Home equity		—		33		33		5,326		5,359
Automobile		—		—		—		64		64
Unsecured		68		—		68		570		638
Total	$	5,267	$	9,941	$	15,208	$	233,953	$	249,161

Financing Receivable Credit Quality Indicators [Table Text Block]

As of September 30, 2014, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

(in thousands)	Pass		Special Mention		Substandard		Doubtful		Not rated
Residential real estate:
One- to four-family	$	—	$	3,657	$	9,733	$	—	$	180,640
Multi-family		13,640		—		—		—		—
Construction		1,965		—		—		—		—
Land		1,496		—		903
Farm		1,627		—		—		—		—
Nonresidential real estate		18,727		941		2,033		—		—
Commercial nonmortgage		1,849		—		47		—		—
Consumer and other:
Loans on deposits		2,564		—		—		—		—
Home equity		5,617		—		—		—		—
Automobile		38		—		28		—		—
Unsecured		359		3		—		—		—
	$	47,882	$	4,601	$	12,744	$	—	$	180,640

At June 30, 2014, the risk category of loans by class of loans was as follows:

(in thousands)	Pass		Special Mention		Substandard		Doubtful		Not rated
Residential real estate:
One- to four-family	$	—	$	2,928	$	11,287	$	—	$	182,166
Multi-family		14,002		—		—		—		—
Construction		2,122		—		—		—		—
Land		1,366		—		996		—		—
Farm		1,644		—		—		—		—
Nonresidential real estate		18,920		965		2,060		—		—
Commercial nonmortgage		2,014		—		66		—		—
Consumer and other:
Loans on deposits		2,564		—		—		—		—
Home equity		5,359		—		—		—		—
Automobile		64		—		—		—		—
Unsecured		606		3		29		—		—
	$	48,661	$	3,896	$	14,438	$	—	$	182,166

Certain Loans Acquired In Transfer Accounted For As Debt Securities [Table Text Block]

The carrying amount of those loans, net of a credit quality component of $764,000 and $782,000 at September 30, 2014 and June 30, 2014, respectively, is as follows:

(in thousands)	September 30, 2014		June 30, 2014
Residential real estate:
One- to four-family	$	2,587	$	2,735
Land		421		444
Nonresidential real estate		514		529
Commercial nonmortgage loans		46		68
Outstanding balance	$	3,568	$	3,776

Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield [Table Text Block]

Accretable yield, or income expected to be collected, is as follows

(in thousands)	Three months ended September 30, 2014		Twelve months ended June 30, 2014
Balance at beginning of period	$	1,478	$	1,294
New loans purchased		—		—
Accretion of income		(60)		(155)
Reclassifications from nonaccretable difference		—		339
Disposals		(10)		—
Balance at end of period	$	1,408	$	1,478

XML

Document And Entity Information	3 Months Ended
	Sep. 30, 2014	Nov. 13, 2014
Document Information [Line Items]
Entity Registrant Name	Kentucky First Federal Bancorp
Entity Central Index Key	0001297341
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Trading Symbol	KFFB
Entity Common Stock, Shares Outstanding		8,524,178
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2014
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

XML

Disclosures About Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

Financial assets measured at fair value on a recurring basis are summarized below:

	Fair Value Measurements Using
(in thousands)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2014
Agency mortgage-backed: residential	$	133	$	—	$	133	$	—
FHLMC stock		76		—		76		—
	$	209	$	—	$	209	$	—
June 30, 2014
Agency mortgage-backed: residential	$	136	$	—	$	136	$	—
FHLMC stock		111		—		111		—
	$	247	$	—	$	247	$	—

Fair Value Measurements, Nonrecurring [Table Text Block]

Assets measured at fair value on a non-recurring basis are summarized below:

	Fair Value Measurements Using
(in thousands)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2014
Impaired loans
One- to four-family	$	70	$	—	$	—	$	70
Other real estate owned, net
One- to four-family		786		—		—		786
Land		15		—		—		15
June 30, 2014
Impaired loans
One- to four-family	$	186	$	—	$	—	$	186
Other real estate owned, net
One- to four-family		1,140		—		—		1,140
Land		15		—		—		15

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2014, and June 30, 2014:

					Range
	Fair Value		Valuation	Unobservable	(Weighted
September 30, 2014	(in thousands)		Technique(s)	Input(s)	Average)
Impaired Loans:
Residential real estate
One- to four- family	$	70	Sales comparison approach	Adjustments for differences between comparable sales	3.1% to 19.8% (4.3%)
Foreclosed and repossessed assets:
1-4 family	$	786	Sales comparison approach	Adjustments for differences between comparable sales	-37.1% to 30.2% (-1.7%)
Land	$	15	Sales comparison approach	Adjustments for differences between comparable sales	-66.7 to 73.3% (40.0%)

					Range
	Fair Value		Valuation	Unobservable	(Weighted
June 30, 2014	(in thousands)		Technique(s)	Input(s)	Average)
Impaired Loans:
Residential real estate
1-4 family	$	186	Sales comparison approach	Adjustments for differences between comparable sales	3.1% to 19.8% (4.3%)
Foreclosed and repossessed assets:
1-4 family	$	1,140	Sales comparison approach	Adjustments for differences between comparable sales	-37.1% to 30.2% (1.1%)
Land		15	Sales comparison approach	Adjustments for differences between comparable sales	20.2% to 38.9% (20.8%)

Fair Value, by Balance Sheet Grouping [Table Text Block]

Based on the foregoing methods and assumptions, the carrying value and fair value of the Company’s financial instruments at September 30, 2014 and June 30, 2014 are as follows:

			Fair Value Measurements at
			September 30, 2014 Using
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	10,875	$	10,875					$	10,875
Available-for-sale securities		209			$	209				209
Held-to-maturity securities		8,673				8,819				8,819
Loans held for sale		206					$	206		206
Loans receivable - net		243,883						249,619		249,619
Federal Home Loan Bank stock		6,482								n/a
Accrued interest receivable		900						900		900
Financial liabilities
Deposits	$	211,716	$	77,947	$	133,991			$	211,938
Federal Home Loan Bank advances		14,188				15,204				15,204
Advances by borrowers for taxes and insurance		867		867						867
Accrued interest payable		34		1		33				34

Based on the foregoing methods and assumptions, the carrying value and fair value of the Company’s financial instruments at June 30, 2013 were as follows:

(in thousands)	Carrying		Fair Value Measurements at June 30, 2014 Using
	Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	11,511	$	11,511					$	11,511
Available-for-sale securities		247			$	247				247
Held-to-maturity securities		9,018				9,195				9,195
Loans held for sale		—				—				—
Loans receivable - net		246,788					$	253,780		253,780
Federal Home Loan Bank stock		6,482								n/a
Accrued interest receivable		891						891		891
Financial liabilities
Deposits	$	213,142	$	88,854	$	124,390			$	213,244
Federal Home Loan Bank advances		17,200				18,303				18,303
Advances by borrowers for taxes and insurance		616		616						616
Accrued interest payable		32				32				32

XML

CONSOLIDATED STATEMENTS OF INCOME (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Interest income
Loans, including fees	$ 3,000	$ 3,111
Mortgage-backed securities	29	36
Other securities	6	7
Interest-bearing deposits and other	64	82
Total interest income	3,099	3,236
Interest expense
Interest-bearing demand deposits	8	7
Savings	59	60
Certificates of Deposit	222	301
Deposits	289	368
Borrowings	62	85
Total interest expense	351	453
Net interest income	2,748	2,783
Provision for loan losses	56	282
Net interest income after provision for loan losses	2,692	2,501
Non-interest income
Earnings on bank-owned life insurance	23	23
Net gains on sales of loans	6	35
Net loss on sales of OREO	(1)	(10)
Write-down of real estate owned	0	(17)
Other	68	84
Total non-interest income	96	115
Non-interest expense
Employee compensation and benefits	1,377	1,249
Occupancy and equipment	131	140
Outside service fees	38	36
Legal fees	7	11
Data processing	102	122
Auditing and accounting	65	33
FDIC insurance premiums	63	60
Franchise and other taxes	67	68
Foreclosure and OREO expenses (net)	53	20
Other	266	248
Total non-interest expense	2,169	1,987
Income before income taxes	619	629
Federal income taxes	203	206
NET INCOME	$ 416	$ 423
EARNINGS PER SHARE
Basic and diluted (in dollars per share)	$ 0.05	$ 0.05
DIVIDENDS PER SHARE (in dollars per share)	$ 0.10	$ 0.10

XML

Loans receivable

3 Months Ended

Sep. 30, 2014

Receivables [Abstract]

Financing Receivables [Text Block]

4. Loans receivable

The composition of the loan portfolio was as follows:

	September 30,		June 30,
(in thousands)	2014		2014
Residential real estate
One- to four-family	$	194,030	$	196,381
Multi-family		13,640		14,002
Construction		1,965		2,122
Land		2,399		2,362
Farm		1,627		1,644
Nonresidential real estate		21,701		21,945
Commercial nonmortgage		1,896		2,080
Consumer and other:
Loans on deposits		2,564		2,564
Home equity		5,617		5,359
Automobile		66		64
Unsecured		362		638
		245,867		249,161
Undisbursed portion of loans in process		(588)		(952)
Deferred loan origination fees (cost)		98		52
Allowance for loan losses		(1,494)		(1,473)
	$	243,883	$	246,788

The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2014:

(in thousands)	Beginning balance		Provision for loan losses		Loans charged off		Recoveries		Ending balance
Residential real estate:
One- to four-family	$	1,003	$	52	$	37	$	2	$	1,020
Multi-family		73		—		—		—		73
Construction		11		—		—		—		11
Land		10		1						11
Farm		9		—		—		—		9
Nonresidential real estate		112		2		—		—		114
Commercial nonmortgage		11		(1)		—		—		10
Consumer and other:
Loans on deposits		13		1		—		—		14
Home equity		28		2		—		—		30
Automobile		—		—		—		—		—
Unsecured		3		(1)		—		—		2
Unallocated		200		—		—		—		200
Totals	$	1,473	$	56	$	37	$	2	$	1,494

The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2013:

(in thousands)	Beginning balance		Provision for loan losses		Loans charged off		Recoveries		Ending balance
Residential real estate:
One- to four-family	$	871	$	273	$	207	$	—	$	937
Multi-family		63		2		—		—		65
Construction		8		1		—		—		9
Land		12		(1)		—		—		11
Farm		6		2		—		—		8
Nonresidential real estate		94		8		—		—		102
Commercial nonmortgage		13		1		—		—		14
Consumer and other:
Loans on deposits		12		—		—		—		12
Home equity		25		1		—		—		26
Automobile		—		—		—		—		—
Unsecured		6		(5)		—		1		2
Unallocated		200		—		—		—		200
Totals	$	1,310	$	282	$	207	$	1	$	1,386

The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of September 30, 2014. The recorded investment in loans excludes accrued interest receivable and deferred loan costs, net due to immateriality.

September 30, 2014:
(in thousands)	Loans individually evaluated		Loans acquired with deteriorated credit quality		Ending loans balance		Ending allowance attributed to loans		Unallocated allowance		Total allowance
Loans individually evaluated for impairment:
Residential real estate:
One- to four-family	$	1,511	$	2,587	$	4,098	$	9	$	—	$	9
Land		—		421		421
Nonresidential real estate		—		514		514		—		—		—
Commercial nonmortgage		—		46		46		—		—		—
Consumer and other
Automobile		—		—		—		—		—		—
Unsecured		—		—		—		—		—		—
		1,511		3,568		5,079		9		—		9
Loans collectively evaluated for impairment:
Residential real estate:
One- to four-family					$	189,932	$	1,011	$	—	$	1,011
Multi-family						13,640		73		—		73
Construction						1,965		11		—		11
Land						1,978		11		—		11
Farm						1,627		9		—		9
Nonresidential real estate						21,187		114		—		114
Commercial nonmortgage						1,850		10		—		10
Consumer and other
Loans on deposits						2,564		14		—		14
Home equity						5,617		30		—		30
Automobile						66		—		—		—
Unsecured						362		2		—		2
Unallocated						—		—		200		200
						240,788		1,285		200		1,485
					$	245,867	$	1,294	$	200	$	1,494

The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of June 30, 2014.

June 30, 2014:
(in thousands)	Loans individually evaluated		Loans acquired with deteriorated credit quality		Ending loans balance		Ending allowance attributed to loans		Unallocated allowance		Total allowance
Loans individually evaluated for impairment:
Residential real estate:
One- to four-family	$	2,159	$	2,735	$	4,894	$	14	$	—	$	14
Farm		—		444		444		—		—		—
Nonresidential real estate		—		529		529		—		—		—
Commercial and industrial		—		68		68		—		—		—
		2,159		3 776		5,935		14		—		14
Loans collectively evaluated for impairment:
Residential real estate:
One- to four-family					$	191,487	$	989	$	—	$	989
Multi-family						14,002		73		—		73
Construction						2,122		11		—		11
Land						1,918		10		—		10
Farm						1,644		9		—		9
Nonresidential real estate						21,416		112		—		112
Commercial nonmortgage						2,012		11		—		11
Consumer and other
Loans on deposits						2,564		13		—		13
Home equity						5,359		28		—		28
Automobile						64		—		—		—
Unsecured						638		3		—		3
Unallocated						—		—		200		200
						243,226		1,259		200		1,459
					$	249,161	$	1,273	$	200	$	1,473

The following table presents loans individually evaluated for impairment by class of loans as of and for the three months ended September 30, 2014 and 2013:

September 30, 2014:

(in thousands)	Unpaid Principal Balance and Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
With no related allowance recorded:
One- to four-family	$	1,441	$	—	$	1,701	$	1	$	1
Purchased credit-impaired loans		3,568		—		3,635		29		29
		5,009		—		5,336		30		30
With an allowance recorded:
One- to four-family		70		9		135		1		1
	$	5,079	$	9	$	5,471	$	31	$	31

September 30, 2013:

(in thousands)	Unpaid Principal Balance and Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
With no related allowance recorded:
One- to four-family	$	3,207	$	—	$	3,854	$	—	$	—
Purchased credit-impaired loans		3,809		—		3,986		—		—
		7,016		—		7,840		—		—
With an allowance recorded:
One- to four-family		210		14		212		—		—
	$	7,226	$	14	$	8,052	$	—	$	—

The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of September 30, 2014, and June 30, 2014:

	September 30, 2014				June 30, 2014
(in thousands)	Nonaccrual		Loans Past Due Over 90 Days Still Accruing		Nonaccrual		Loans Past Due Over 90 Days Still Accruing
One- to four-family residential real estate	$	5,171	$	2,442	$	5,767	$	3,513
Land		288		—		—		—
Nonresidential real estate		382		—		384		—
Commercial nonmortgage		47		—		47		—
Consumer		28		—		29		—
	$	5,916	$	2,442	$	6,227	$	3,513

Troubled Debt Restructurings:

A Troubled Debt Restructuring (“TDR”) is the situation where the Bank grants a concession to the borrower that the Bank would not otherwise have considered due to the borrower’s financial difficulties. All TDRs are considered “impaired.” At September 30, 2014 and June 30, 2014, the Company had $1.8 million and $2.0 million of loans classified as TDRs, respectively. Of the TDRs at September 30, 2014, approximately 41.9% were related to the borrower’s completion of Chapter 7 bankruptcy proceedings with no reaffirmation of his debt to the Banks.

 During the period ended September 30, 2014, there were no terms of loans restructured.

The following table presents TDRs by loan type at September 30, 2014 and June 30, 2014, and their performance, by modification type:

(dollars in thousands)	Number of Loans		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		TDRs Performing to Modified Terms		TDRs Not Performing to Modified Terms
September 30, 2014
Residential Real Estate:
1-4 Family		38	$	2,122	$	1,824	$	1,627	$	197
June 30, 2014
Residential Real Estate:
1-4 Family		39	$	2,230	$	1,997	$	1,621	$	376

The following table summarizes TDR loan modifications for the three months ended September 30, 2014 and 2013, and their performance, by modification type:

(in thousands)	Troubled Debt Restructurings Performing to Modified Terms		Troubled Debt Restructurings Not Performing to Modified Terms		Total Troubled Debt Restructurings
Three months ended September 30, 2014
Residential real estate:
Rate reduction	$	—	$	—	$	—
Bankruptcies		—		—		—
Total troubled debt restructures	$	—	$	—	$	—
Three months ended September 30, 2013
Residential real estate:
Rate reduction	$	126	$	—	$	126
Bankruptcies		208		61		269
Total troubled debt restructures	$	334	$	61	$	395

The Company had no allocated specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of September 30, 2014, or at June 30, 2014. The Company had no commitments to lend on loans classified as TDRs at September 30, 2014 or June 30, 2014.

The TDRs described above did not increase the allowance for loan losses and did not result in charge offs during the three months ended September 30, 2014 or 2013. There were no TDRs that defaulted in the three months ended September 30, 2014, and one TDR that defaulted during the three months ended September 30, 2013. The TDR Loan that defaulted in the 2013 period had a carrying value of $486,000 at September 30, 2014, and while that loan was in foreclosure at the end of the period, there has been no charge-off or additional provision recorded for that credit.

The following table presents the aging of the principal balance outstanding in past due loans as of September 30, 2014, by class of loans:

(in thousands)	30-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Loans Not Past Due		Total
Residential real estate:
One-to four-family	$	4,247	$	5,561	$	9,808	$	184,222	$	194,030
Multi-family		—		—		—		13,640		13,640
Construction		—		—		—		1,965		1,965
Land		566		27		593		1,806		2,399
Farm		—		—		—		1,627		1,627
Nonresidential real estate		—		195		195		21,506		21,701
Commercial nonmortgage		—		—		—		1,896		1,896
Consumer and other		92		—		92		8,517		8,609
Total	$	4,905	$	5,783	$	10,688	$	235,179	$	245,867

The following tables present the aging of the principal balance outstanding in past due loans as of June 30, 2014, by class of loans:

(in thousands)	30-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Loans Not Past Due		Total
Residential real estate:
One-to four-family	$	4,481	$	9,060	$	13,541	$	182,840	$	196,381
Multi-family		—		—		—		14,002		14,002
Construction		343		—		343		1,779		2,122
Land		—		364		364		1,998		2,362
Farm		—		—		—		1,644		1,644
Nonresidential real estate		375		396		771		21,174		21,945
Commercial nonmortgage		—		88		88		1,992		2,080
Consumer and other:
Loans on deposits		—		—		—		2,564		2,564
Home equity		—		33		33		5,326		5,359
Automobile		—		—		—		64		64
Unsecured		68		—		68		570		638
Total	$	5,267	$	9,941	$	15,208	$	233,953	$	249,161

Credit Quality Indicators:

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on an annual basis. The Company uses the following definitions for risk ratings:

Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable.

Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered to be pass rated loans. Loans listed that are not rated are included in groups of homogeneous loans and are evaluated for credit quality based on performing status. See the aging of past due loan table above. As of September 30, 2014, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

(in thousands)	Pass		Special Mention		Substandard		Doubtful		Not rated
Residential real estate:
One- to four-family	$	—	$	3,657	$	9,733	$	—	$	180,640
Multi-family		13,640		—		—		—		—
Construction		1,965		—		—		—		—
Land		1,496		—		903
Farm		1,627		—		—		—		—
Nonresidential real estate		18,727		941		2,033		—		—
Commercial nonmortgage		1,849		—		47		—		—
Consumer and other:
Loans on deposits		2,564		—		—		—		—
Home equity		5,617		—		—		—		—
Automobile		38		—		28		—		—
Unsecured		359		3		—		—		—
	$	47,882	$	4,601	$	12,744	$	—	$	180,640

At June 30, 2014, the risk category of loans by class of loans was as follows:

(in thousands)	Pass		Special Mention		Substandard		Doubtful		Not rated
Residential real estate:
One- to four-family	$	—	$	2,928	$	11,287	$	—	$	182,166
Multi-family		14,002		—		—		—		—
Construction		2,122		—		—		—		—
Land		1,366		—		996		—		—
Farm		1,644		—		—		—		—
Nonresidential real estate		18,920		965		2,060		—		—
Commercial nonmortgage		2,014		—		66		—		—
Consumer and other:
Loans on deposits		2,564		—		—		—		—
Home equity		5,359		—		—		—		—
Automobile		64		—		—		—		—
Unsecured		606		3		29		—		—
	$	48,661	$	3,896	$	14,438	$	—	$	182,166

Purchased Credit Impaired Loans:

The Company purchased loans during fiscal year 2013 for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans, net of a credit quality component of $764,000 and $782,000 at September 30, 2014 and June 30, 2014, respectively, is as follows:

(in thousands)	September 30, 2014		June 30, 2014
Residential real estate:
One- to four-family	$	2,587	$	2,735
Land		421		444
Nonresidential real estate		514		529
Commercial nonmortgage loans		46		68
Outstanding balance	$	3,568	$	3,776

Accretable yield, or income expected to be collected, is as follows

(in thousands)	Three months ended September 30, 2014		Twelve months ended June 30, 2014
Balance at beginning of period	$	1,478	$	1,294
New loans purchased		—		—
Accretion of income		(60)		(155)
Reclassifications from nonaccretable difference		—		339
Disposals		(10)		—
Balance at end of period	$	1,408	$	1,478

For those purchased loans disclosed above, the Company made no increase in allowance for loan losses for the year ended June 30, 2014, nor for the three months ended September 30, 2014. Neither were any allowance for loan losses reversed during those periods.

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Investment Securities

3 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

3. Investment Securities

The following table summarizes the amortized cost and fair value of securities available-for-sale and securities held-to-maturity at September 30, 2014 and June 30, 2014, the corresponding amounts of gross unrealized gains recognized in accumulated other comprehensive income and gross unrecognized gains and losses:

	September 30, 2014
(in thousands)	Amortized cost		Gross unrealized/ unrecognized gains		Gross unrealized/ unrecognized losses		Estimated  fair value
Available-for-sale Securities
Agency mortgage-backed:residential	$	131	$	2	$	-	$	133
FHLMC stock		8		68		-		76
	$	139	$	70	$	-	$	209
Held-to-maturity Securities
Agency mortgage-backed: residential	$	3,480	$	152	$	1	$	3,631
Agency bonds		5,193		4		9		5,188
	$	8,673	$	156	$	10	$	8,819

	June 30, 2014
(in thousands)	Amortized cost		Gross unrealized/ unrecognized gains		Gross unrealized/ unrecognized losses		Estimated fair value
Available-for-sale Securities
Agency mortgage-backed:residential	$	134	$	2	$	-	$	136
FHLMC stock		8		103		-		111
	$	142	$	105	$	-	$	247
Held-to-maturity Securities
Agency mortgage-backed: residential	$	3,792	$	180	$	1	$	3,971
Agency bonds		5,226		3		5		5,224
	$	9,018	$	183	$	6	$	9,195

The Company’s equity securities consist of Federal Home Loan Mortgage Company (FHLMC or Freddie Mac) stock, while our debt securities consist of agency bonds and mortgage-backed securities. Mortgage-backed securities do not have a single maturity date. The amortized cost and fair value of held-to-maturity debt securities are shown by contractual maturity. Securities not due at a single maturity are shown separately.

	September 30, 2014
(in thousands)	Amortized Cost		Fair Value
Held-to-maturity Securities
Within one year	$	2,038	$	2,041
One to five years		3,155		3,147
Mortgage-backed		3,480		3,631
	$	8,673	$	8,819

Our pledged securities at September 30, 2014, and June 30, 2014 totaled $2.2 million and $2.6 million, respectively.

There were no sales of investment securities during the three-month periods ended September 30, 2014 and 2013.

We evaluated securities in unrealized loss positions for evidence of other-than-temporary impairment, considering duration, severity, financial condition of the issuer, our intention to sell or requirement to sell. Those securities were agency bonds, which carry a very limited amount of risk. Also, we have no intention to sell nor feel tht we will be compelled to sell such securities before maturity. Based on our evaluation, no impairment has been recognized through earnings.

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Earnings Per Share (Details Textual)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share1 [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	309,800	309,800

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Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Sep. 30, 2014

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Other comprehensive income (loss) components and related tax effects for the periods indicated were as follows:

	Three months ended September 30,
(in thousands)	2014		2013
Unrealized holding gains (losses) on available-for-sale securities	$	(35)	$	(3)
Tax effect		11		1
Net-of-tax amount	$	(24)	$	(2)

Comprehensive Income (Loss) [Table Text Block]

The following is a summary of the accumulated other comprehensive income balances, net of tax:

(in thousands)	Balance at June 30, 2014		Current Year Change		Balance at September 30, 2014
Unrealized gains (losses) on available-for-sale securities	$	70	$	(24)	$	46

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Earnings Per Share (Tables)

3 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The factors used in the basic and diluted earnings per share computations follow:

	Three months ended September 30,
(in thousands)	2014		2013
Net income allocated to common shareholders, basic and diluted	$	416	$	423

	Three months ended September 30,
(in thousands)	2014	2013
Weighted-average common shares outstanding, basic and diluted	8,383,191		8,369,515

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Disclosures About Fair Value of Assets and Liabilities

3 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

5. Disclosures About Fair Value of Assets and Liabilities

ASC topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC topic 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Following is a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy.

Securities

Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics. Level 2 securities include agency mortgage-backed securities.

Impaired Loans

At the time a loan is considered impaired, it is evaluated for loss based on the fair value of collateral securing the loan if the loan is collateral dependent. If a loss is identified, a specific allocation will be established as part of the allowance for loan losses such that the loan’s net carrying value is at its estimated fair value. Impaired loans carried at fair value generally receive specific allocations of the allowance for loan losses. For collateral-dependent loans, fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly.

Other Real Estate

Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value.

Financial assets measured at fair value on a recurring basis are summarized below:

	Fair Value Measurements Using
(in thousands)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2014
Agency mortgage-backed: residential	$	133	$	—	$	133	$	—
FHLMC stock		76		—		76		—
	$	209	$	—	$	209	$	—
June 30, 2014
Agency mortgage-backed: residential	$	136	$	—	$	136	$	—
FHLMC stock		111		—		111		—
	$	247	$	—	$	247	$	—

Assets measured at fair value on a non-recurring basis are summarized below:

	Fair Value Measurements Using
(in thousands)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2014
Impaired loans
One- to four-family	$	70	$	—	$	—	$	70
Other real estate owned, net
One- to four-family		786		—		—		786
Land		15		—		—		15
June 30, 2014
Impaired loans
One- to four-family	$	186	$	—	$	—	$	186
Other real estate owned, net
One- to four-family		1,140		—		—		1,140
Land		15		—		—		15

Impaired loans, which are measured using the fair value of the collateral for collateral-dependent loans, had a carrying amount of $70,000 and $200,000 at September 30, 2014 and June 30, 2014, with specific valuation allowance of $9,000 and $14,000 at the end of each period, respectively. There was no specific allowance provision made for the three month periods ended September 30, 2014 or 2013.

Other real estate owned measured at fair value less costs to sell, had carrying amounts of $801,000 and $1.2 million at September 30, 2014 and June 30, 2014, respectively. While there was no write-down of other real estate owned during the three months ended September 30, 2014, other real estate owned measured at fair value less costs to sell had a net carrying amount of $210,000 resulting in a write-down of $17,000 for the three months ended September 30, 2013.

The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2014, and June 30, 2014:

					Range
	Fair Value		Valuation	Unobservable	(Weighted
September 30, 2014	(in thousands)		Technique(s)	Input(s)	Average)
Impaired Loans:
Residential real estate
One- to four- family	$	70	Sales comparison approach	Adjustments for differences between comparable sales	3.1% to 19.8% (4.3%)
Foreclosed and repossessed assets:
1-4 family	$	786	Sales comparison approach	Adjustments for differences between comparable sales	-37.1% to 30.2% (-1.7%)
Land	$	15	Sales comparison approach	Adjustments for differences between comparable sales	-66.7 to 73.3% (40.0%)

					Range
	Fair Value		Valuation	Unobservable	(Weighted
June 30, 2014	(in thousands)		Technique(s)	Input(s)	Average)
Impaired Loans:
Residential real estate
1-4 family	$	186	Sales comparison approach	Adjustments for differences between comparable sales	3.1% to 19.8% (4.3%)
Foreclosed and repossessed assets:
1-4 family	$	1,140	Sales comparison approach	Adjustments for differences between comparable sales	-37.1% to 30.2% (1.1%)
Land		15	Sales comparison approach	Adjustments for differences between comparable sales	20.2% to 38.9% (20.8%)

The following is a disclosure of the fair value of financial instruments, both assets and liabilities, whether or not recognized in the consolidated balance sheet, for which it is practicable to estimate that value. For financial instruments where quoted market prices are not available, fair values are based on estimates using present value and other valuation methods.

The methods used are greatly affected by the assumptions applied, including the discount rate and estimates of future cash flows. Therefore, the fair values presented may not represent amounts that could be realized in an exchange for certain financial instruments.

The following methods were used to estimate the fair value of all other financial instruments at September 30, 2014 and June 30, 2013:

Cash and cash equivalents and interest-bearing deposits: The carrying amounts presented in the consolidated statements of financial condition for cash and cash equivalents are deemed to approximate fair value.

Held-to-maturity securities: For held-to-maturity securities, fair value is estimated by using pricing models, quoted price of securities with similar characteristics, which is level 2 pricing for the other securities.

Loans held for sale: Loans originated and intended for sale in the secondary market are determined by FHLB pricing schedules.

Loans: The loan portfolio has been segregated into categories with similar characteristics, such as one- to four-family residential, multi-family residential and nonresidential real estate. These loan categories were further delineated into fixed-rate and adjustable-rate loans. The fair values for the resultant loan categories were computed via discounted cash flow analysis, using current interest rates offered for loans with similar terms to borrowers of similar credit quality. For loans on deposit accounts and consumer and other loans, fair values were deemed to equal the historic carrying values. The fair value of loans does not consider an exit price.

Federal Home Loan Bank stock: It is not practicable to determine the fair value of FHLB stock due to restrictions placed on its transferability.

Accrued interest receivable: The carrying amount is the estimated fair value.

Deposits: The fair value of NOW accounts, passbook accounts, and money market deposits are deemed to approximate the amount payable on demand. Fair values for fixed-rate certificates of deposit have been estimated using a discounted cash flow calculation using the interest rates currently offered for deposits of similar remaining maturities.

Federal Home Loan Bank advances: The fair value of these advances is estimated using the rates currently offered for similar advances of similar remaining maturities or, when available, quoted market prices.

Advances by borrowers for taxes and insurance and accrued interest payable: The carrying amount presented in the consolidated statement of financial condition is deemed to approximate fair value.

Commitments to extend credit: For fixed-rate and adjustable-rate loan commitments, the fair value estimate considers the difference between current levels of interest rates and committed rates. The fair value of outstanding loan commitments at September 30, 2014 and June 30, 2013, was not material.

Based on the foregoing methods and assumptions, the carrying value and fair value of the Company’s financial instruments at September 30, 2014 and June 30, 2014 are as follows:

			Fair Value Measurements at
			September 30, 2014 Using
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	10,875	$	10,875					$	10,875
Available-for-sale securities		209			$	209				209
Held-to-maturity securities		8,673				8,819				8,819
Loans held for sale		206					$	206		206
Loans receivable - net		243,883						249,619		249,619
Federal Home Loan Bank stock		6,482								n/a
Accrued interest receivable		900						900		900
Financial liabilities
Deposits	$	211,716	$	77,947	$	133,991			$	211,938
Federal Home Loan Bank advances		14,188				15,204				15,204
Advances by borrowers for taxes and insurance		867		867						867
Accrued interest payable		34		1		33				34

Based on the foregoing methods and assumptions, the carrying value and fair value of the Company’s financial instruments at June 30, 2013 were as follows:

(in thousands)	Carrying		Fair Value Measurements at June 30, 2014 Using
	Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	11,511	$	11,511					$	11,511
Available-for-sale securities		247			$	247				247
Held-to-maturity securities		9,018				9,195				9,195
Loans held for sale		—				—				—
Loans receivable - net		246,788					$	253,780		253,780
Federal Home Loan Bank stock		6,482								n/a
Accrued interest receivable		891						891		891
Financial liabilities
Deposits	$	213,142	$	88,854	$	124,390			$	213,244
Federal Home Loan Bank advances		17,200				18,303				18,303
Advances by borrowers for taxes and insurance		616		616						616
Accrued interest payable		32				32				32

Loans receivable represents the Company’s most significant financial asset, which is in Level 3 for fair value measurements. A third party provides financial modeling for the Company and results are based on assumptions and factors determined by management.

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Other Comprehensive Income (Loss)

3 Months Ended

Sep. 30, 2014

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Comprehensive Income (Loss) Note [Text Block]

6. Other Comprehensive Income (Loss)

Other comprehensive income (loss) components and related tax effects for the periods indicated were as follows:

	Three months ended September 30,
(in thousands)	2014		2013
Unrealized holding gains (losses) on available-for-sale securities	$	(35)	$	(3)
Tax effect		11		1
Net-of-tax amount	$	(24)	$	(2)

The following is a summary of the accumulated other comprehensive income balances, net of tax:

(in thousands)	Balance at June 30, 2014		Current Year Change		Balance at September 30, 2014
Unrealized gains (losses) on available-for-sale securities	$	70	$	(24)	$	46

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Investment Securities (Tables)

3 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Investment Securities [Table Text Block]

The following table summarizes the amortized cost and fair value of securities available-for-sale and securities held-to-maturity at September 30, 2014 and June 30, 2014, the corresponding amounts of gross unrealized gains recognized in accumulated other comprehensive income and gross unrecognized gains and losses:

	September 30, 2014
(in thousands)	Amortized cost		Gross unrealized/ unrecognized gains		Gross unrealized/ unrecognized losses		Estimated  fair value
Available-for-sale Securities
Agency mortgage-backed:residential	$	131	$	2	$	-	$	133
FHLMC stock		8		68		-		76
	$	139	$	70	$	-	$	209
Held-to-maturity Securities
Agency mortgage-backed: residential	$	3,480	$	152	$	1	$	3,631
Agency bonds		5,193		4		9		5,188
	$	8,673	$	156	$	10	$	8,819

	June 30, 2014
(in thousands)	Amortized cost		Gross unrealized/ unrecognized gains		Gross unrealized/ unrecognized losses		Estimated fair value
Available-for-sale Securities
Agency mortgage-backed:residential	$	134	$	2	$	-	$	136
FHLMC stock		8		103		-		111
	$	142	$	105	$	-	$	247
Held-to-maturity Securities
Agency mortgage-backed: residential	$	3,792	$	180	$	1	$	3,971
Agency bonds		5,226		3		5		5,224
	$	9,018	$	183	$	6	$	9,195

Held-to-maturity Securities [Table Text Block]

The Company’s equity securities consist of Federal Home Loan Mortgage Company (FHLMC or Freddie Mac) stock, while our debt securities consist of agency bonds and mortgage-backed securities. Mortgage-backed securities do not have a single maturity date. The amortized cost and fair value of held-to-maturity debt securities are shown by contractual maturity. Securities not due at a single maturity are shown separately.

	September 30, 2014
(in thousands)	Amortized Cost		Fair Value
Held-to-maturity Securities
Within one year	$	2,038	$	2,041
One to five years		3,155		3,147
Mortgage-backed		3,480		3,631
	$	8,673	$	8,819

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Loans receivable (Details 8) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014	Jun. 30, 2013
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due	$ 4,905		$ 5,267
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due	5,783		9,941
Loans Receivable, Recorded Investment, Total Past Due	10,688		15,208
Loans Receivable, Recorded Investment, Loans Not Past Due	235,179		233,953
Loans Receivable, Recorded Investment, Total	245,867	249,161	249,161
Residential Real Estate One To Four Family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due	4,247		4,481
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due	5,561		9,060
Loans Receivable, Recorded Investment, Total Past Due	9,808		13,541
Loans Receivable, Recorded Investment, Loans Not Past Due	184,222		182,840
Loans Receivable, Recorded Investment, Total	194,030	196,381	196,381
Residential Real Estate Multi Family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due	0		0
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due	0		0
Loans Receivable, Recorded Investment, Total Past Due	0		0
Loans Receivable, Recorded Investment, Loans Not Past Due	13,640		14,002
Loans Receivable, Recorded Investment, Total	13,640	14,002	14,002
Residential Real Estate Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due	0		343
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due	0		0
Loans Receivable, Recorded Investment, Total Past Due	0		343
Loans Receivable, Recorded Investment, Loans Not Past Due	1,965		1,779
Loans Receivable, Recorded Investment, Total	1,965		2,122
Land [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due	566		0
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due	27		364
Loans Receivable, Recorded Investment, Total Past Due	593		364
Loans Receivable, Recorded Investment, Loans Not Past Due	1,806		1,998
Loans Receivable, Recorded Investment, Total	2,399		2,362
Farm [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due	0		0
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due	0		0
Loans Receivable, Recorded Investment, Total Past Due	0		0
Loans Receivable, Recorded Investment, Loans Not Past Due	1,627		1,644
Loans Receivable, Recorded Investment, Total	1,627		1,644
Non residential real estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due	0		375
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due	195		396
Loans Receivable, Recorded Investment, Total Past Due	195		771
Loans Receivable, Recorded Investment, Loans Not Past Due	21,506		21,174
Loans Receivable, Recorded Investment, Total	21,701		21,945
Commercial nonmortgage [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due	0	0
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due	0	88
Loans Receivable, Recorded Investment, Total Past Due	0	88
Loans Receivable, Recorded Investment, Loans Not Past Due	1,896	1,992
Loans Receivable, Recorded Investment, Total	1,896	2,080
Loans on deposits [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due		0
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due		0
Loans Receivable, Recorded Investment, Total Past Due		0
Loans Receivable, Recorded Investment, Loans Not Past Due		2,564
Loans Receivable, Recorded Investment, Total		2,564
Home equity [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due		0
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due		33
Loans Receivable, Recorded Investment, Total Past Due		33
Loans Receivable, Recorded Investment, Loans Not Past Due		5,326
Loans Receivable, Recorded Investment, Total		5,359
Unsecured [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due		68
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due		0
Loans Receivable, Recorded Investment, Total Past Due		68
Loans Receivable, Recorded Investment, Loans Not Past Due		570
Loans Receivable, Recorded Investment, Total		638
Consumer and Other Loan [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due	92
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due	0
Loans Receivable, Recorded Investment, Total Past Due	92
Loans Receivable, Recorded Investment, Loans Not Past Due	8,517
Loans Receivable, Recorded Investment, Total	8,609
Automobile [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Receivable, Recorded Investment, 30-89 Days Past Due		0
Loans Receivable, Recorded Investment, Equal To Greater Than 90 Days Past Due		0
Loans Receivable, Recorded Investment, Total Past Due		0
Loans Receivable, Recorded Investment, Loans Not Past Due		64
Loans Receivable, Recorded Investment, Total		$ 64

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Basis of presentation (Details Textual)	3 Months Ended
	Sep. 30, 2014
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Mortgage Loans on Real Estate, Periodic Payment Terms	25 years or less

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Investment Securities (Details Textual) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
Schedule Of Available For Sale Securities And Held To Maturity [Line Items]
Securities Held as Collateral, at Fair Value	$ 2.2	$ 2.6

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Disclosures About Fair Value of Assets and Liabilities (Details 2) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Sep. 30, 2014	Jun. 30, 2014
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Available-For-Sale Securities	$ 209	$ 247
Valuation Technique(s)		Valuation
Unobservable Input(s)		Unobservable
Residential Real Estate One To Four Family [Member] | Impaired Loans [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Available-For-Sale Securities	70	186
Valuation Technique(s)	Sales comparison approach	Sales comparison approach
Unobservable Input(s)	Adjustments for differences between comparable sales	Adjustments for differences between comparable sales
Residential Real Estate One To Four Family [Member] | Impaired Loans [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Range (Weighted Average)	3.10%	3.10%
Residential Real Estate One To Four Family [Member] | Impaired Loans [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Range (Weighted Average)	19.80%	19.80%
Residential Real Estate One To Four Family [Member] | Impaired Loans [Member] | Weighted Average [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Range (Weighted Average)	4.30%	4.30%
Residential Real Estate One To Four Family [Member] | Repossessed Assets [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Available-For-Sale Securities	786	1,140
Valuation Technique(s)	Sales comparison approach	Sales comparison approach
Unobservable Input(s)	Adjustments for differences between comparable sales	Adjustments for differences between comparable sales
Residential Real Estate One To Four Family [Member] | Repossessed Assets [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Range (Weighted Average)	(37.10%)	(37.10%)
Residential Real Estate One To Four Family [Member] | Repossessed Assets [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Range (Weighted Average)	30.20%	30.20%
Residential Real Estate One To Four Family [Member] | Repossessed Assets [Member] | Weighted Average [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Range (Weighted Average)	(1.70%)	1.10%
Residential Real Estate Land [Member] | Repossessed Assets [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Available-For-Sale Securities	$ 15	$ 15
Valuation Technique(s)	Sales comparison approach	Sales comparison approach
Unobservable Input(s)	Adjustments for differences between comparable sales	Adjustments for differences between comparable sales
Residential Real Estate Land [Member] | Repossessed Assets [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Range (Weighted Average)	(66.70%)	20.20%
Residential Real Estate Land [Member] | Repossessed Assets [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Range (Weighted Average)	73.30%	38.90%
Residential Real Estate Land [Member] | Repossessed Assets [Member] | Weighted Average [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Range (Weighted Average)	40.00%	20.80%

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Net income	$ 416	$ 423
Other comprehensive loss, net of tax benefits:
Unrealized holding losses on securities designated as available for sale, net of tax benefits of $11 and $1 during the respective periods	(24)	(2)
Comprehensive income	$ 392	$ 421

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Earnings Per Share

3 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

2. Earnings Per Share

Diluted earnings per share is computed taking into consideration common shares outstanding and dilutive potential common shares to be issued or released under the Company’s share-based compensation plans. The factors used in the basic and diluted earnings per share computations follow:

	Three months ended September 30,
(in thousands)	2014		2013
Net income allocated to common shareholders, basic and diluted	$	416	$	423

	Three months ended September 30,
(in thousands)	2014	2013
Weighted-average common shares outstanding, basic and diluted	8,383,191		8,369,515

There were 309,800 stock option shares outstanding for the three-month periods ended September 30, 2014 and 2013. The stock option shares outstanding were antidilutive for the respective periods.

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Loans receivable (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2013
Financing Receivable, Recorded Investment [Line Items]
Construction	$ 1,965	$ 2,122
Land	2,399	2,362
Farm	1,627	1,644
Nonresidential real estate	21,701	21,945
Commercial nonmortgage	1,896	2,080
Consumer and other, Loans on deposits	2,564	2,564
Consumer and other, Home equity	5,617	5,359
Consumer and other, Automobile	66	64
Consumer and other, Unsecured	362	638
Loans Receivable, Recorded Investment	245,867	249,161		249,161
Undisbursed portion of loans in process	(588)	(952)
Deferred loan origination fees (cost)	98	52
Allowance for loan losses	(1,494)	(1,473)	(1,386)	(1,310)
Loans receivable - net, Carrying Value	243,883	246,788
Residential Real Estate One To Four Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	194,030	196,381		196,381
Allowance for loan losses	(1,020)	(1,003)	(937)	(871)
Residential Real Estate Multi Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans Receivable, Recorded Investment	13,640	14,002		14,002
Allowance for loan losses	$ (73)	$ (73)	$ (65)	$ (63)

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Loans receivable (Details Textual) (USD $)	3 Months Ended
	Sep. 30, 2014	Jun. 30, 2014
Financing Receivable, Modifications [Line Items]
Certain Loans and Debt Securities Acquired in Transfer, Allowance for Credit Losses Due to Subsequent Impairment	$ 764,000	$ 782,000
Percentage Of Bankruptcy Proceedings To Borrower	41.90%
Financing Receivable, Modifications, Recorded Investment	1,800,000	2,000,000
Troubled Debt Restructuring [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 486,000

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Plan of Reorganization (Details Textual) (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2005
First Federal Mhc [Member]
Reorganization Plan [Line Items]
Stock Issued During Period Share Under Reorganization	4,727,938
Stock Issued During Period Percentage Of Shares Under Reorganization	55.00%
Employee Stock Ownership Plan (ESOP), Shares in ESOP	2,127,572
Employee Stock Ownership Plan Esop Percentage Of Shares In Esop	24.80%
Employee Stock Ownership Plan Esop Exercise Price Of Shares In Esop	$ 10.00
Proceeds from Issuance of Common Stock	$ 16.1
Frankfort First Bancorp [Member]
Reorganization Plan [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	1,740,554
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	31.4
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
Business Acquisition Purchase Price Allocation Intangible Assets Including Goodwill	$ 15.4