What changed in this filing

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Item 9A. Controls and Procedures

2021-09-28 compared with 2020-09-28 · 162 added, 222 removed, 21 unchanged (95% of the section changed)

Controls and Procedures .

Disclosure Controls

and Procedures

The Company’s management, including

the Company’s principal executive officer and principal financial officer, have evaluated the effectiveness of the Company’s

“disclosure controls and procedures,”

as such term is defined in Rule 13a-15(e) promulgated under the Securities Exchange

Act of 1934, as amended, (the “Exchange Act”).

Based upon their evaluation, the principal executive officer and principal

financial officer concluded that, as of the end of the period covered by this report, the Company’s disclosure controls

and procedures were effective for the purpose of ensuring that the information required to be disclosed in the reports that the

Company files or submits under the Exchange Act with the Securities and Exchange Commission (the “SEC”) (1) is recorded,

processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and (2) is accumulated

and communicated to the Company’s management, including its principal executive and principal financial officers, as appropriate

to allow timely decisions regarding required disclosure.

Internal Control

Over Financial Reporting

Parent Company of First Federal Savings

and Loan Association of Hazard and First Federal Savings Bank of Kentucky

MANAGEMENT’S ANNUAL REPORT ON

INTERNAL CONTROL

OVER FINANCIAL REPORTING

Management of Kentucky First Federal Bancorp

(the “Company”) is responsible for the preparation, integrity, and fair presentation of the consolidated financial

statements included in this annual report.

The Company’s consolidated financial statements have been prepared in accordance

with accounting principles generally accepted in the United States of America and, as such, include some amounts that are based

on the best estimates and judgments of management.

The Company’s management is responsible

for establishing and maintaining adequate internal control over financial reporting.

The internal control system is designed to

provide reasonable assurance to management and the Board of Directors regarding the reliability of the company’s financial

reporting and the preparation and presentation of financial statements for external reporting purposes in conformity with accounting

principles generally accepted in the United States of America, as well as to safeguard assets from unauthorized use or disposition.

Controls and Procedures

Company’s management, including the Company’s principal executive officer and principal financial officer, have evaluated

the effectiveness of the Company’s “disclosure controls and procedures,” as such term is defined in Rule 13a-15(e)

promulgated under the Securities Exchange Act of 1934, as amended, (the “Exchange Act”).

Based upon their evaluation, the

principal executive officer and principal financial officer concluded that, as of the end of the period covered by this report, the Company’s

disclosure controls and procedures were effective for the purpose of ensuring that the information required to be disclosed in the reports

that the Company files or submits under the Exchange Act with the Securities and Exchange Commission (the “SEC”) (1) is recorded,

processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and (2) is accumulated and communicated

to the Company’s management, including its principal executive and principal financial officers, as appropriate to allow timely

decisions regarding required disclosure.

Control Over Financial Reporting

Company of First Federal Savings and Loan Association of Hazard and First Federal Savings Bank of Kentucky

ANNUAL REPORT ON INTERNAL CONTROL

FINANCIAL REPORTING

of Kentucky First Federal Bancorp (the “Company”) is responsible for the preparation, integrity, and fair presentation of

the consolidated financial statements included in this annual report.

The Company’s consolidated financial statements have been

prepared in accordance with accounting principles generally accepted in the United States of America and, as such, include some amounts

that are based on the best estimates and judgments of management.

Company’s management is responsible for establishing and maintaining adequate internal control over financial reporting.

control system is designed to provide reasonable assurance to management and the Board of Directors regarding the reliability of the

company’s financial reporting and the preparation and presentation of financial statements for external reporting purposes in conformity

with accounting principles generally accepted in the United States of America, as well as to safeguard assets from unauthorized use or

The system of internal control over financial reporting is evaluated for effectiveness by management and tested for reliability

1 unchanged sentence

Because of inherent

limitations in any internal control system, no matter how well designed, misstatements due to error or fraud may occur and not

be detected, including the possibility of the circumvention or overriding controls.

Accordingly, even an effective internal control

system can provide only reasonable assurance with respect to financial statement preparation.

Further, because of changes in conditions,

internal control effectiveness may vary over time.

Management assessed the effectiveness

of the company’s internal control over financial reporting as of June 30, 2020, based upon criteria set forth in Internal

Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission –

2013 (“COSO”).

Based on this assessment and on the forgoing

criteria, management has concluded that, as of June 30, 2020, the Company’s internal control over financial reporting is

This annual report does not include an

attestation report of the Company’s registered public accounting firm regarding internal control over financial reporting.

Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to

the exemption provided to issuers that are not “large accelerated filers”

or “accelerated filers”

the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Chief Executive Officer

Vice President and Chief Financial Officer

Changes to Internal

Control Over Financial Reporting

There were no changes in our internal

control over financial reporting that occurred during the quarter ended June 30, 2020 that have materially affected, or are reasonably

likely to materially affect, our internal control over financial reporting.

limitations in any internal control system, no matter how well designed, misstatements due to error or fraud may occur and not be detected,

including the possibility of the circumvention or overriding controls.

Accordingly, even an effective internal control system can provide

only reasonable assurance with respect to financial statement preparation.

Further, because of changes in conditions, internal control

effectiveness may vary over time.

assessed the effectiveness of the company’s internal control over financial reporting as of June 30, 2021, based upon criteria

set forth in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission –

2013 (“COSO”).

on this assessment and on the forgoing criteria, management has concluded that, as of June 30, 2020, the Company’s internal control

over financial reporting is effective.

annual report does not include an attestation report of the Company’s registered public accounting firm regarding internal control

over financial reporting.

Management’s report was not subject to attestation by the Company’s registered public accounting

firm pursuant to the exemption provided to issuers that are not “large accelerated filers” or “accelerated filers”

under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Executive Officer

President and Chief Financial Officer

to Internal Control Over Financial Reporting

were no changes in our internal control over financial reporting that occurred during the quarter ended June 30, 2021 that have materially

affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Other Information .

Not applicable.

Executive Officers, and Corporate Governance.

The information contained under the section

captioned “

Item I ─ Election of Directors ”

in the Company’s definitive proxy statement for the

Company’s 2019 Annual Meeting of Stockholders (the “Proxy Statement”) is incorporated herein by reference.

Executive Officers

The information regarding the Company’s

executive officers is incorporated herein by reference to “Item I –

Election of Directors”

Corporate Governance

Information regarding the Company’s

Audit Committee and Audit Committee financial expert is incorporated herein by reference to the section captioned “Corporate

Governance and Board Matters ─ Committees of the Board of Directors –

Audit Committee”

in the Proxy Statement.

Compliance with Section 16(a) of the

Information regarding compliance with

Section 16(a) of the Exchange Act is incorporated by reference to section captioned “Other Information Relating to Directors

and Executive Officers –

Section 16(a) Beneficial Ownership Reporting Compliance”

in the Proxy Statement.

Disclosure of Code of Ethics

Kentucky First has adopted a Code of Ethics

and Business Conduct that applies to all of its directors, officers and employees.

To obtain a copy of this document at no charge,

please write to Kentucky First Federal Bancorp, P.O.

Box 535, Frankfort, Kentucky 40602-0535, or call toll-free (888) 818-3372

and ask for Investor Relations.

Compensation.

The information contained under the section

captioned “

Executive Compensation ”

in the Proxy Statement is incorporated herein by reference.

Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

Security Ownership

of Certain Beneficial Owners.

Information required by this item is incorporated herein by reference to the section captioned

Stock Ownership ”

in the Proxy Statement.

Security Ownership

of Management.

Information required by this item is incorporated herein by reference to the section captioned “

Ownership ”

in the Proxy Statement.

Changes in Control.

Management of the Company knows of no arrangements, including any pledge by any person of securities of the Company, the

operation of which may at a subsequent date result in a change in control of the Company.

Equity Compensation

The following table sets forth certain information with respect to the Company’s equity compensation plans

as of June 30, 2020.

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.

Directors, Executive Officers, and Corporate Governance .

information contained under the section captioned “ Item I – Election of Directors ” in the Company’s

definitive proxy statement for the Company’s 2021 Annual Meeting of Stockholders (the “Proxy Statement”) is

incorporated herein by reference.

information regarding the Company’s executive officers is incorporated herein by reference to “Item I – Election

of Directors” in the Proxy Statement.

regarding the Company’s Audit Committee and Audit Committee financial expert is incorporated herein by reference to the

section captioned “Corporate Governance and Board Matters – Committees of the Board of Directors – Audit

Committee” in the Proxy Statement.

with Section 16(a) of the Exchange Act

regarding compliance with Section 16(a) of the Exchange Act is incorporated by reference to section captioned “Other Information

Relating to Directors and Executive Officers – Section 16(a) Beneficial Ownership Reporting Compliance” in the Proxy

of Code of Ethics

First has adopted a Code of Ethics and Business Conduct that applies to all of its directors, officers and employees.

To obtain a copy

of this document at no charge, please write to Kentucky First Federal Bancorp, P.O.

Box 535, Frankfort, Kentucky 40602-0535, or call

toll-free (888) 818-3372 and ask for Investor Relations.

Executive Compensation .

information contained under the section captioned “ Executive Compensation ” in the Proxy Statement is incorporated

herein by reference.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters .

Ownership of Certain Beneficial Owners.

Information required by this item is incorporated herein by reference to the section

captioned “ Stock Ownership ” in the Proxy Statement.

Ownership of Management.

Information required by this item is incorporated herein by reference to the section captioned “ Stock

Ownership ” in the Proxy Statement.

Management of the Company knows of no arrangements, including any pledge by any person of securities of the Company,

the operation of which may at a subsequent date result in a change in control of the Company.

Compensation Plans.

The following table sets forth certain information with respect to the Company’s equity compensation

plans as of June 30, 2021.

outstanding options,

compensation plans approved by security holders

Equity compensation

plans not approved by security holders

Relationships and Related Transactions, and Director Independence.

Certain Relationships and Related Transactions

The information required by this item

is incorporated herein by reference to the section captioned “

Other Information Relating to Directors and Executive Officers

Transactions with Related Persons ”

in the Proxy Statement.

Corporate Governance

For information regarding director independence,

the section captioned, “Corporate Governance and Board Matters –

Director Independence”

is incorporated

herein by reference.

Principal Accountant Fees

and Services.

The information required by this item

is incorporated herein by reference to the section captioned “Audit Related Matters”

compensation plans not approved by security holders

Certain Relationships and Related Transactions, and Director Independence .

Relationships and Related Transactions

information required by this item is incorporated herein by reference to the section captioned “ Other Information Relating to

Directors and Executive Officers – Transactions with Related Persons ” in the Proxy Statement.

information regarding director independence, the section captioned, “Corporate Governance and Board Matters – Director

Independence” is incorporated herein by reference.

Principal Accountant Fees and Services .

information required by this item is incorporated herein by reference to the section captioned “Audit Related Matters”

in the Proxy Statement.

and Financial Statement Schedules.

(a) List of Documents Filed as Part

of This Report

The following consolidated financial statements are incorporated by reference from Item 8 hereof (see

of Independent Registered Public Accounting Firm

Balance Sheets as of June 30, 2020 and 2019

Statements of Income for the Years Ended June 30, 2020 and 2019

Statements of Comprehensive Income for the Years Ended June 30, 2020 and 2019

Statements of Changes in Shareholders’

Exhibits and Financial Statement Schedules .

of Documents Filed as Part of This Report

The following consolidated financial statements are incorporated by reference from Item 8 hereof (see Exhibit

Report of Independent Registered

Public Accounting Firm

Consolidated Balance Sheets as of June 30,

2021 and 2020

Consolidated Statements of Income for the

Years Ended June 30, 2021 and 2020

Consolidated Statements of Comprehensive Income

for the Years Ended June 30, 2021 and 2020

Consolidated Statements of Changes in Shareholders’

Equity for the Years Ended June 30, 2021 and 2020

Statements of Cash Flows for the Years Ended June 30, 2020 and 2019

to Consolidated Financial Statements

Consolidated Statements of Cash Flows for

the Years Ended June 30, 2021 and 2020

Notes to Consolidated Financial Statements

Statement Schedules .

All schedules for which provision is made in the applicable accounting regulations of the

Securities and Exchange Commission are omitted because of the absence of conditions under which they are required or because

the required information is included in the consolidated financial statements and related notes thereto.

All schedules for which provision is made in the applicable accounting regulations of the Securities

and Exchange Commission are omitted because of the absence of conditions under which they are required or because the required information

is included in the consolidated financial statements and related notes thereto.

The following is a list of exhibits filed as part of this Annual Report on Form 10-K and is also the Exhibit Index.

Charter of Kentucky First Federal Bancorp

Amended and Restated Bylaws of Kentucky First Federal Bancorp

Amendment No.

of Kentucky First Federal Bancorp

and Restated Bylaws of Kentucky First Federal Bancorp

1 to the Bylaws of Kentucky First Federal Bancorp

Amendment No.

2 to the Bylaws of Kentucky First Federal Bancorp

Specimen Stock Certificate of Kentucky First Federal Bancorp

Description of Kentucky First Federal Bancorp’s Common Stock Registered Under Section 12 of the Securities and Exchange Act of 1934

Employment Agreement between Kentucky First Federal Bancorp and Don D.

Jennings, as amended&dagger;

Employment Agreement between First Federal Savings Bank of Kentucky and Don D.

Jennings, as amended&dagger;

Employment Agreement between Kentucky First Federal Bancorp and R.

Clay Hulette, as amended&dagger;

Employment Agreement between First Federal Savings Bank of Kentucky and R.

Clay Hulette, as amended&dagger;

Employment Agreement between First Federal Savings Bank of Kentucky and Teresa Kuhl, as amended&dagger;

Amended and Restated First Federal Savings and Loan Association of Hazard Change in Control Severance Compensation Plan&dagger;

Amended and Restated First Federal Savings Bank of Kentucky Change in Control Severance Compensation Plan&dagger;

Amended and Restated First Federal Savings and Loan Association Supplemental Executive Retirement Plan&dagger;

Kentucky First Federal Bancorp 2005 Equity Incentive Plan&dagger;

Form of Restricted Stock Award Agreement&dagger;

Form of Incentive Stock Option Award Agreement&dagger;

Form of Non-Statutory Option Award Agreement&dagger;

Employment Agreement by and between Kentucky First Federal Bancorp and William H.

Johnson&dagger;

Employment Agreement by and between First Federal Savings Bank of Kentucky and William H.

Johnson&dagger;

Employment Agreement by and between First Federal Savings and Loan of Hazard and Jamie S.

Coffey&dagger;

Stock Certificate of Kentucky First Federal Bancorp

of Kentucky First Federal Bancorp’s Common Stock Registered Under Section 12 of the Securities and Exchange Act of 1934

Agreement between Kentucky First Federal Bancorp and Don D.

Jennings, as amended†

Agreement between First Federal Savings Bank of Kentucky and Don D.

Jennings, as amended†

Agreement between Kentucky First Federal Bancorp and R.

Clay Hulette, as amended†

Agreement between First Federal Savings Bank of Kentucky and R.

Clay Hulette, as amended†

Agreement between First Federal Savings Bank of Kentucky and Teresa Kuhl, as amended†

and Restated First Federal Savings and Loan Association of Hazard Change in Control Severance Compensation Plan†

and Restated First Federal Savings Bank of Kentucky Change in Control Severance Compensation Plan†

and Restated First Federal Savings and Loan Association Supplemental Executive Retirement Plan†

First Federal Bancorp 2005 Equity Incentive Plan†

of Restricted Stock Award Agreement†

of Incentive Stock Option Award Agreement†

of Non-Statutory Option Award Agreement†

Agreement by and between First Federal Savings Bank of Kentucky and William H.

Agreement by and between First Federal Savings and Loan of Hazard and Jamie S.

Agreement, dated May 7, 2021, by and between First Federal Savings Bank of Frankfort and William Johnson†

Annual Report to Stockholders for the Fiscal Year Ended June 30, 2021

3 unchanged sentences

Section 1350 Certifications

following materials from the Company’s Annual Report on Form 10-K for the year ended June 30, 2020, formatted in XBRL

(eXtensible Business Reporting Language):

(i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Income,

(iii) the Consolidated Statements of Comprehensive Income, (iv) the Consolidated Statements of Changes in Shareholders’

Equity, (v) the Consolidated Statements of Cash Flows and the (vi) Notes to Consolidated Financial Statements.

Management contract

or compensation plan or arrangement.

Incorporated herein

by reference to the Company’s Registration Statement on Form S-1 (File No.

Incorporated herein

by reference to the Company’s Annual Report on Form 10-K for the Year Ended June 30, 2012 (File No.

Incorporated herein

by reference to the Company’s Form 8-K filed on August 25, 2017 (File No.

Incorporated herein

by reference to the Company’s Form 8-K filed on September 28, 2020 (File No.

Incorporated herein

by reference to the Company’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2008 (File No.

Incorporated herein

by reference to the Company’s definitive additional proxy solicitation materials filed with the Securities and Exchange

following materials from the Company’s Annual Report on Form 10-K for the year ended June 30, 2021, formatted in XBRL (eXtensible

Business Reporting Language):

(i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Income, (iii) the Consolidated

Statements of Comprehensive Income, (iv) the Consolidated Statements of Changes in Shareholders’ Equity, (v) the Consolidated Statements

of Cash Flows and the (vi) Notes to Consolidated Financial Statements.

Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

contract or compensation plan or arrangement.

herein by reference to the Company’s Registration Statement on Form S-1 (File No.

herein by reference to the Company’s Annual Report on Form 10-K for the Year Ended June 30, 2012 (File No.

herein by reference to the Company’s Form 8-K filed on August 25, 2017 (File No.

herein by reference to the Company’s Form 8-K filed on September 28, 2020 (File No.

herein by reference to the Company’s Annual Report on Form 10-K for the Year Ended June 30, 2020 (File No.

herein by reference to the Company’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2008 (File No.

herein by reference to the Company’s definitive additional proxy solicitation materials filed with the Securities and Exchange

Commission on October 24, 2005.

Incorporated herein

by reference to the Company’s Registration Statement on Form S-8 (File No.

Incorporated herein

by reference to the Company’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2012 (File No.

The exhibits required by Item 601 of Regulation S-K are either filed as part of this Annual Report on Form 10-K or incorporated

by reference herein.

herein by reference to the Company’s Registration Statement on Form S-8 (File No.

herein by reference to the Company’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2012 (File No.

herein by reference to the Company’s Form 8-K filed on May 13, 2021 (File No.

(b) Exhibits .

The exhibits required by Item 601 of Regulation S-K are either filed as part of this Annual Report on Form 10-K or incorporated by

reference herein.

Statements and Schedules Excluded from Annual Report .

There are no other financial statements and financial statement

schedules which were excluded from the Annual Report to Stockholders pursuant to Rule 14a-3(b) which are required to be included

10-K Summary.

Not applicable.

Pursuant to the requirements of Section

13 or 15(d) 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.

There are no other financial statements and financial statement schedules

which were excluded from the Annual Report to Stockholders pursuant to Rule 14a-3(b) which are required to be included herein.

Form 10-K Summary .

to the requirements of Section 13 or 15(d) 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.

FIRST FEDERAL BANCORP

September 28, 2020

Chief Executive

Pursuant to the requirements of the Securities

Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities

and on the dates indicated.

Chief Executive

Officer and Director

(Principal Executive

September 28, 2020

Vice President, Chief Financial Officer and

(Principal Financial

and Accounting Officer)

September 28, 2020

Chairman of the

September 28, 2020

Executive Officer

to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the

registrant and in the capacities and on the dates indicated.

Executive Officer and Director

Executive Officer)

President, Chief Financial Officer and Treasurer

Financial and Accounting Officer)

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures