Kentucky’s First Federal Savings Bank Secures Early Release From OCC Agreement

First Federal Savings Bank of Kentucky, a unit of Kentucky First Federal Bancorp, entered into a formal written agreement with the U.S. Office of the Comptroller of the Currency on August 13, 2024, requiring improvements in operational safety, regulatory compliance and capital management. The agreement’s termination removes the bank’s “troubled condition” designation and indicates that regulators have recognized its turnaround and improved profitability.

The OCC formally terminated the agreement on January 13, 2026, and announced the decision on February 19. The restrictions were in place for less than 20 months, ending well ahead of the four-year maximum period for which management had prepared. The company reported quarterly net income of $304,000 for the period ended December 31, 2025, an increase of $291,000 from a year earlier. Six-month net income was $648,000, compared with a $2,000 loss in the prior-year period, and the bank is also no longer subject to an individual minimum capital requirement.