What changed in this filing

/stocks — the workspaceLOADING

Item 9A. Controls and Procedures

2022-09-28 compared with 2021-09-28 · 181 added, 163 removed, 20 unchanged (95% of the section changed)

Controls and Procedures .

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

through a program of internal audit with actions taken to correct potential deficiencies as they are identified.

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.

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

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

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.

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.

The system of internal

control over financial reporting is evaluated for effectiveness by management and tested for reliability through a program of internal

audit with actions taken to correct potential deficiencies as they are identified.

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, 2022, 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, 2022, the Company’s internal control over financial reporting is effective.

This annual report does not include an attestation

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

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.

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, 2022 that have materially affected, or are reasonably likely

to materially affect, our internal control over financial reporting.

Other Information .

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.

Not applicable.

Disclosure Regarding Foreign Jurisdictions

that Prevent Inspections.

Not applicable.

Directors, 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 2022

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” in the Proxy Statement.

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 Exchange

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

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.

The 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 .

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 “ Stock 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 Plans.

The following table sets forth certain information with respect to the Company’s equity compensation plans as of June 30, 2022.

outstanding options,

compensation plans approved by security holders

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.

Equity compensation plans approved by security holders

Equity compensation plans not approved by security holders

Certain 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 .

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

in the Proxy Statement.

Exhibits and Financial Statement Schedules .

of Documents Filed as Part of This Report

The information required by this item is incorporated

herein by reference to the section captioned “Audit Related Matters” in the Proxy Statement.

1 The Company currently has no equity-based compensation plans

Exhibits and Financial Statement

List of Documents Filed as Part of This Report

Financial Statements .

The following consolidated financial statements are incorporated by reference from Item 8 hereof (see Exhibit 13):

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

Consolidated Statements of Cash Flows for

the Years Ended June 30, 2021 and 2020

Report of Independent Registered Public Accounting Firm ( FORVIS, LLP , Louisville, KY , PCAOB ID 686 )

Consolidated Balance Sheets as of June 30, 2022 and 2021

Consolidated Statements of Income for the Years Ended June 30, 2022 and 2021

Consolidated Statements of Comprehensive Income for the Years Ended June 30, 2022 and 2021

Consolidated Statements of Changes in Shareholders’ Equity for the Years Ended June 30, 2022 and 2021

Consolidated Statements of Cash Flows for the Years Ended June 30, 2022 and 2021

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.

Financial 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.

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

of Kentucky First Federal Bancorp

and Restated Bylaws of Kentucky First Federal Bancorp

Charter of Kentucky First Federal Bancorp

Amended and Restated Bylaws of Kentucky First Federal Bancorp

Amendment No.

1 to the Bylaws of Kentucky First Federal Bancorp

Amendment No.

2 to the Bylaws of Kentucky First Federal Bancorp

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.

Amendment No.

3 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†

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

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

Jennings, as amended†

Agreement between Kentucky First Federal Bancorp and R.

Employment Agreement between Kentucky First Federal Bancorp and R.

Clay Hulette, as amended†

Agreement between First Federal Savings Bank of Kentucky and R.

Employment 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†

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

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

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

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

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

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

Letter 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, 2022

Consent of BKD, LLP

Rule 13a-14(a) Certification of Chief Executive Officer

1 unchanged sentence

Section 1350 Certifications

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.

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 herein.

The following materials from the Company’s Annual Report on Form 10-K for the year ended June 30, 2022, formatted in XBRL (eXtensible Business Reporting Language):

(i) the Consolidated Balance Sheets, (ii) Consolidated Statements of Operations, (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.

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

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 Form 8-K filed on February 2, 2022 (File No.

Incorporated herein by reference to the Company’s Annual Report on Form 10-K for the Year Ended June 30, 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 Quarterly Report on Form 10-Q for the quarter ended December 31, 2012 (File No.

Incorporated herein by reference to the Company’s Form 8-K filed on May 13, 2021 (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.

Financial 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 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

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)

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.

KENTUCKY FIRST FEDERAL BANCORP

September 28, 2022

Chief Executive Officer

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.

September 28, 2022

Chief Executive Officer and Director

(Principal Executive Officer)

September 28, 2022

Vice President, Chief Financial Officer and Treasurer

(Principal Financial and Accounting Officer)

September 28, 2022

Chairman of the Board

/s/ Stephen G.

September 28, 2022

/s/ Walter G.

September 28, 2022

/s/ Lou Ella Farler

September 28, 2022

Lou Ella Farler

/s/ William D.

September 28, 2022

/s/ William H.

September 28, 2022

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