Kentucky First Federal Bancorp (KFFB) is a federally chartered savings institution with total assets of $375.3M as of December 31, 2025. Under a liquidation lens, the recovery posture is thin but nominally positive at the reported book equity level of $49.1M, though haircut analysis compresses this substantially. The balance sheet is loan-centric: gross loans of approximately $332.0M (net $329.8M after $2.2M ALLL) represent the dominant asset class. Applying a 90% recovery haircut to net loans (reflecting illiquidity, credit risk, and forced-sale discount on a predominantly 1-4 family residential portfolio in a small Kentucky market) yields approximately $296.8M recovered against a loan book carrying value of $329.8M, a $33M haircut. Cash and cash equivalents of $19.7M recover at 100%. AFS securities of $11.2M recover near par given Level 2 fair value measurement. HTM securities of $0.15M book value carry fair value of $0.15M, negligible impairment. FHLB stock of $3.8M is redeemable at par under normal conditions; under liquidation, redemption is likely but timing-dependent. Bank-owned life insurance of $3.0M recovers at CSV, approximately face. PP&E of $4.2M net book value receives a 50-60% haircut under forced sale, yielding approximately $2.1-2.5M. OREO of $0.4M is already at estimated fair value. Intangibles/goodwill: filing does not separately disclose goodwill or core deposit intangibles in TAG_CONTEXT; prepaid and other assets of $1.2M receive a 50% haircut. On the liability side, deposits of $273.2M are repaid at face, FHLB long-term advances of $51.4M are repaid at face (plus any prepayment penalties not disclosed), interest payable of $0.5M, deferred tax liability net of $0.1M, and other liabilities of $0.6M are all settled at face. MFFAIS CLV of $19.6M is materially below GAAP book equity of $49.1M, consistent with the loan haircut math. No pension obligation, no material operating lease stack visible in XBRL. Compared to the prior filing period (September 30, 2025), total assets declined modestly, deposits declined $4.4M, FHLB advances reflect net paydown activity (proceeds $27.1M, repayments $18.4M; long-term balance $51.4M versus prior period not separately tagged). ALLL decreased to $2.2M with minimal net charge-offs ($4K write-offs). The filing does not separately disclose goodwill, CDI, or defined benefit pension obligation in XBRL; none are referenced in a manner suggesting material balance sheet impact, but absence of tagging warrants note.
▼ Community Notes