Kentucky First Federal Bancorp (KFFB) is a federally chartered mid-tier holding company for two thrift institutions, namely First Federal Savings and Loan Association of Hazard (First Federal of Hazard) and First Federal Savings Bank of Frankfort (First Federal of Frankfort). These subsidiaries are community-focused financial institutions that offer a wide range of financial services, including deposit and loan products.
The company was founded in 2005 and is headquartered in Hazard, Kentucky. It was formed with the purpose of acquiring and holding shares of the two subsidiary institutions, which have been serving their respective communities since 1960. KFFB provides an operational framework that enables both subsidiaries to focus on their key competencies while benefiting from the financial strength and stability of a larger organization.
Under the KFFB umbrella, First Federal of Hazard and First Federal of Frankfort offer traditional savings and checking accounts, certificates of deposits, and IRA accounts. They also provide a variety of loan products tailored to meet the needs of individual customers, including residential mortgage, construction, commercial, and consumer loans.
Moreover, KFFB is a publicly traded company, listed on the NASDAQ Capital Market under the symbol "KFFB." As of the fiscal year 2021, the company had total assets of more than $300 million. Over the years, KFFB has grown by maintaining a commitment to strong corporate governance, effective risk management, and a conservative, sound banking philosophy.
Empowering local communities is a key part of KFFB's mission. Both First Federal of Hazard and First Federal of Frankfort are deeply involved in public service, supporting various local organizations, events, and causes. This strong community commitment distinguishes KFFB from larger, impersonal banking conglomerates.
Further, KFFB has consistently demonstrated a commitment to its shareholders through steady profitability and regular payment of dividends. Its leadership team brings a wealth of industry experience and the company is poised for future growth. This, coupled with its commitment to the communities it serves, makes KFFB a significant player in Kentucky's financial landscape.
In conclusion, Kentucky First Federal Bancorp plays a crucial role in the economic development of Kentucky, supporting local community needs by providing financial products and services. While maintaining traditional methods of customer service, the company also creates growth through prudent management, customer satisfaction, and community development.