What changed in this filing

/stocks — the workspaceLOADING

Item 1A. Risk Factors

2025-05-15 compared with 2025-02-14 · 51 added, 48 removed, 17 unchanged (85% of the section changed)

1 unchanged sentence

Risk Factors”

of the Company’s Annual Report on Form 10-K for the year ended June 30, 2024 for information regarding risk factors that could materially

affect the Company’s business, financial condition, or future results of operations.

Other than as set forth below, there have been

changes with regard to the risk factors disclosed in “Item 1A.

Risk Factors” of the Company’s Annual Report on Form

10-K for the year ended June 30, 2024.

Kentucky First Federal Bancorp

On January 16, 2024, we announced that the

Board had determined to suspend the payment of dividends indefinitely.

Our ability to pay future dividends, and the amount that may be

paid, is subject to a number of factors, including our ability to fully and timely address the deficiencies that resulted in the formal

of the Company’s Annual Report on Form 10-K for the year ended June 30, 2024 and in the Company’s Quarterly Report on Form

10-Q for the period ended September 30, 2024 and for the period ended December 31, 2024 for information regarding risk factors that could

materially affect the Company’s business, financial condition, or future results of operations.

Other than as set forth below, there

have been changes with regard to the risk factors disclosed in “Item 1A.

Risk Factors” of the Company’s Annual Report

on Form 10-K for the year ended June 30, 2024.

On January 16, 2024, we announced that

the Board had determined to suspend the payment of dividends indefinitely.

Our ability to pay future dividends, and the amount that may

be paid, is subject to a number of factors, including our ability to fully and timely address the deficiencies that resulted in the formal

Agreement that First Federal Savings Bank of Kentucky has entered into with the OCC and the satisfaction of individual minimum capital

1 unchanged sentence

Our ability to pay future dividends is also subject to our ability to receive any required regulatory

approval or non-objection to pay dividends to our shareholders, the ability of First Federal of Hazard and First Federal of Kentucky to

make capital distributions to Kentucky First Federal in order for Kentucky First Federal to declare and pay dividends to its shareholders.

January 16, 2024, the Company announced the suspension of quarterly dividends indefinitely.

Holders of our common stock are only entitled

to receive such dividends as our Board of Directors may declare out of funds available for such payments under applicable law and regulatory

We cannot predict when or whether the Company will be able to pay future common stock dividends and if so, the amount of any

such common stock dividends.

Our ability to pay future dividends and if so at what level will also be dependent on numerous factors, including:

our ability to receive any required regulatory approval or non-objection to pay dividends to our shareholders;

our ability to receive

regulatory approval or non-objection to pay dividends from First Federal Savings and Loan Association of Hazard and First Federal Savings

Bank of Kentucky to the Company in order for the Company to pay dividends to shareholders;

our ability to fully and timely address the

deficiencies that resulted in the formal Agreement that First Federal Savings Bank of Kentucky entered into with the OCC on August 13,

2024, or any other deficiencies identified by the OCC or the Federal Reserve Bank of Cleveland;

our ability to successfully execute our

strategy to increase earnings and core deposits, reduce reliance on higher cost funding sources and shift more of our loan portfolio towards

higher-earning loans;

and First Federal Savings Bank of Kentucky’s ability to satisfy the IMCR’s imposed by the OCC, which

require First Federal Savings Bank of Kentucky to maintain a common equity tier 1 capital ratio of at least 9.0%, a tier 1 capital

ratio of at least 11.0%, a total capital ratio of at least 12.0%, and a leverage ratio of at least 9.0%.

As of December 31, 2024, the

Bank’s common equity tier 1 capital ratio was _______%, its tier 1 capital ratio was _______%, its total capital ratio was _______%,

and its leverage ratio was ______%.

For additional information on the formal Agreement that First Federal Savings Bank of Kentucky has

entered into with the OCC and the IMCR’s imposed on First Federal Savings Bank of Kentucky by the OCC, please see “Management’s

Discussion and Analysis—Regulatory Developments Regarding First Federal of Kentucky.”

approval or non-objection to pay dividends to our shareholders, the ability of First Federal of Hazard and First Federal of Kentucky

to make capital distributions to Kentucky First Federal in order for Kentucky First Federal to declare and pay dividends to its shareholders.

On January 16, 2024, the Company announced the suspension of quarterly

dividends indefinitely.

Holders of our common stock are only entitled to receive such dividends as our Board of Directors may declare

out of funds available for such payments under applicable law and regulatory guidance.

We cannot predict when or whether the Company will

be able to pay future common stock dividends and if so, the amount of any such common stock dividends.

Our ability to pay future dividends

and if so at what level will also be dependent on numerous factors, including:

our ability to receive any required regulatory approval

or non-objection to pay dividends to our shareholders;

our ability to receive regulatory approval or non-objection to pay dividends from

First Federal Savings and Loan Association of Hazard and First Federal Savings Bank of Kentucky to the Company in order for the Company

to pay dividends to shareholders;

our ability to fully and timely address the deficiencies that resulted in the formal Agreement that

First Federal Savings Bank of Kentucky entered into with the OCC on August 13, 2024, or any other deficiencies identified by the OCC or

the Federal Reserve Bank of Cleveland;

our ability to successfully execute our strategy to increase earnings and core deposits, reduce

reliance on higher cost funding sources and shift more of our loan portfolio towards higher-earning loans;

and First Federal Savings Bank

of Kentucky’s ability to satisfy the IMCR’s imposed by the OCC, which require First Federal Savings Bank of Kentucky

to maintain a common equity tier 1 capital ratio of at least 9.0%, a tier 1 capital ratio of at least 11.0%, a total capital ratio of

at least 12.0%, and a leverage ratio of at least 9.0%.

As of March 31, 2025, the Bank’s common equity tier 1 capital ratio was 16.72%,

its tier 1 capital ratio was 16.72%, its total capital ratio was 16.72%, and its leverage ratio was 10.13%.

For additional information

on the formal Agreement that First Federal Savings Bank of Kentucky has entered into with the OCC and the IMCR’s imposed on First

Federal Savings Bank of Kentucky by the OCC, please see “Management’s Discussion and Analysis—Regulatory Developments

Regarding First Federal of Kentucky.”

As the mutual holding company and majority

8 unchanged sentences

However, First

Federal MHC did not seek to obtain regulatory approval to waive dividends for periods after the third quarter of 2024, and the prior Federal

Reserve Boad approval to waive the payment of quarterly dividends that would otherwise be payable to First Federal MHC has expired.

the extent the Company resumes the payment of dividends in future periods, it is expected that First Federal MHC will again waive future

dividends, except to the extent dividends are needed to fund First Federal MHC’s continuing operations, subject to the ability of

First Federal MHC to obtain regulatory approval of its requests to waive dividends and to its ability to obtain member approval of dividend

We cannot predict whether members will continue to approve annual dividend waiver requests or whether the Federal Reserve Board

will grant future dividend waiver requests and, if granted, there can be no assurance as to the conditions, if any, the Federal Reserve

Board will place on future dividend waiver requests by grandfathered mutual holding companies such as First Federal MHC.

If First Federal

MHC is unable to waive the receipt of dividends, the Company’s ability to pay dividends to our stockholders may be substantially

Federal MHC did not seek to obtain regulatory approval to waive dividends for periods after the third quarter of 2024, and the prior

Federal Reserve Boad approval to waive the payment of quarterly dividends that would otherwise be payable to First Federal MHC has expired.

To the extent the Company resumes the payment of dividends in future periods, it is expected that First Federal MHC will again waive

future dividends, except to the extent dividends are needed to fund First Federal MHC’s continuing operations, subject to the ability

of First Federal MHC to obtain regulatory approval of its requests to waive dividends and to its ability to obtain member approval of

dividend waivers.

We cannot predict whether members will continue to approve annual dividend waiver requests or whether the Federal Reserve

Board will grant future dividend waiver requests and, if granted, there can be no assurance as to the conditions, if any, the Federal

Reserve Board will place on future dividend waiver requests by grandfathered mutual holding companies such as First Federal MHC.

Federal MHC is unable to waive the receipt of dividends, the Company’s ability to pay dividends to our stockholders may be substantially

impaired and the amounts of any such dividends may be significantly reduced.

1 unchanged sentence

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-Q

Item 1A. Risk Factors