Kentucky First Federal Bancorp
For the period ended Jun 30, 2024. Filed Oct 3, 2024.
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FY2024 · Filed Oct 3, 2024
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EX-13 · Securities
Securities
Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs).
The following table presents the fair value measurements of assets and liabilities measured at fair value on a recurring basis at June 30, 2024 and 2023. The securities represented are only those classified as available-for sale.
| Fair Value Measurements Using | ||||||
|---|---|---|---|---|---|---|
| Quotes Prices in Active Markets for Identical Assets · Significant Other Observable Inputs · Significant Unobservable Inputs | ||||||
| (in thousands) · Fair Value · (Level 1) · (Level 2) · (Level 3) | ||||||
| Agency mortgage-backed: residential | $9,648 | $ | - | $9,648 | $ | - |
| Agency mortgage-backed: residential | $12,080 | $ | - | $12,080 | $ | - |
There were no transfers between levels 1 and 2.
There were no assets or liabilities measured at fair value on a nonrecurring basis at June 30, 2024 and 2023.
The following disclosure of the fair value of financial instruments, both assets and liabilities, whether or not recognized in the consolidated balance sheet, is based on the assumptions presented for each particular item and for which it is practicable to estimate that value. For financial instruments where quoted market prices are not available, fair values are based on estimates using present value and other valuation methods.
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