KENTUCKY FIRST FEDERAL BANCORP ANNOUNCES TERMINATION OF THE AGREEMENT BY AND BETWEEN FIRST FEDERAL SAVINGS BANK OF KENTUCKY AND THE OCC (Form 8-K)

KENTUCKY FIRST FEDERAL BANCORP ANNOUNCES TERMINATION OF THE AGREEMENT BY AND BETWEEN FIRST FEDERAL SAVINGS BANK OF KENTUCKY AND THE OCC

Kentucky First Federal Bancorp (Nasdaq: KFFB), the holding company (the "Company") for First Federal Savings and Loan Association of Hazard and First Federal Savings Bank of Kentucky, Frankfort, Kentucky, announced that the Office of the Comptroller of the Currency (the "OCC"), the primary regulator of First Federal Savings Bank of Kentucky, has published notification today that it has terminated the OCC's formal written agreement, dated August 13, 2024 (the "Agreement"), with First Federal Savings Bank of Kentucky.

First Federal Savings Bank of Kentucky President and Chief Executive Officer, R. Clay Hulette, stated, "We are very pleased to have the Agreement terminated in less than 20 months. We appreciate the OCC's timely recognition of our achievements and grateful for the hard work of our team to expeditiously address the issues raised by the Agreement."

With the termination of the agreement, the Bank is no longer considered in "troubled condition" pursuant to 12 C.F.R. § 5.51(c)(7)(ii) and is an "eligible savings association" for purposes of 12 C.F.R. § 5.3. Further, the individual minimum capital requirements ("IMCRs") imposed concurrently with the Agreement will no longer be enforced, although the Bank's capital levels have exceeded, and continue to exceed, the IMCRs.