Current Report Filing (8-k)

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 2, 2015

 

 

KENTUCKY FIRST FEDERAL BANCORP

 

(Exact Name of Registrant as Specified in Its Charter)

 

United States		0-51176		61-1484858
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(IRS Employer Identification No.)
479 MAIN STREET, HAZARD, KENTUCKY				41702
(Address of principal executive offices)				(Zip Code)

 

[phone]

 

(Registrant’s telephone number, including area code)

 

Not Applicable

 

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 8.01

Other Events

 

On February 2, 2015, Kentucky First Federal Bancorp (the “Company”) announced that its two subsidiary banks, First Federal Savings and Loan Association of Hazard, Kentucky and First Federal Savings Bank of Frankfort, Kentucky will merge, subject to regulatory approval. For more information, see the Company’s press release dated February 2, 2015, which is filed as Exhibit 99.1 hereto and is incorporated herein by reference.

 

 

Item 9.01

Financial Statements and Exhibits

 

(a)

Not applicable

 

(b)

Not applicable

 

(c)

Not applicable

 

The following exhibit is filed herewith:

 

99.1

Press Release dated February 2, 2015

 

 

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 hereunto duly authorized.

 

 

	KENTUCKY FIRST FEDERAL BANCORP
Date: February 3, 2015	By:	/s/ Don D. Jennings
		Don D. Jennings President and Chief Operating Officer

 

 

 

EXHIBIT 99.1

 

Kentucky First Federal Bancorp

 

Hazard, Frankfort, Danville and Lancaster, Kentucky

For Immediate Release February 2, 2015

Contact:         

Kentucky First Federal Bancorp

Don Jennings, President
Clay Hulette, Vice President

[phone]

 

 

Kentucky First Federal Bancorp Announces Merger of Subsidiary Banks

 

Kentucky First Federal Bancorp (Nasdaq: KFFB) the holding company for First Federal Savings and Loan Association of Hazard, Kentucky and First Federal Savings Bank of Frankfort, Kentucky announced today that the two subsidiary banks will merge, subject to regulatory approval.

 

Tony D. Whitaker, Chairman of the Company, stated that the banks had decided to merge in order to make various support and back-office functions more efficient. There will eventually be some cost savings as those efficiencies are realized. Lou Ella Farler, currently president and CEO of First Federal Savings and Loan of Hazard, will serve as the Hazard Area President of First Federal Savings Bank, alongside R. Clay Hulette who is Frankfort Area President and William H. Johnson who is Danville-Lancaster Area President. All employees of First Federal of Hazard will be retained and all directors of First Federal of Hazard will be offered a seat on the board, subject to regulatory approval.

 

After the merger, First Federal Savings Bank will operate from seven offices in Kentucky. It will have assets of approximately $304 million, net loans of approximately $244 million, deposits of approximately $209 million, and shareholder’s equity of approximately $62 million (with tangible equity of approximately $49 million).

 

This press release may contain statements that are forward-looking, as that term is defined by the Private Securities Litigation Act of 1995 or the Securities and Exchange Commission in its rules, regulations and releases. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors including, but not limited to, real estate values, the impact of interest rates on financing, changes in general economic conditions, legislative and regulatory changes that adversely affect the business of the Company and the ability of First Federal MHC to waive dividends and changes in the securities markets. Accordingly, actual results may differ from those expressed in the forward-looking statements, and the making of such statements should not be regarded as a representation by the Company or any other person that results expressed therein will be achieved.

 

Kentucky First Federal Bancorp is the parent company of First Federal Savings and Loan Association, which operates one banking office in Hazard, Kentucky and First Federal Savings Bank, which operates six banking offices in Kentucky, including three in Frankfort, two in Danville, and one in Lancaster. Kentucky First Federal Bancorp shares are traded on the NASDAQ National Market under the symbol KFFB. At December 31, 2014, the Company had approximately 8,457,515 shares outstanding of which approximately 55.9% was held by First Federal MHC.