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 · Troubled Debt Restructurings:
Troubled Debt Restructurings:
Prior to the adoption of ASC 326 a Troubled Debt Restructuring (“TDR”) was the situation where the Bank granted a concession to the borrower that the Banks would not otherwise have considered due to the borrower’s financial difficulties. All TDRs are considered “impaired.”
At June 30, 2023, the Company had $464,000 of loans classified as TDRs.
There were no loans modified to borrowers experiencing financial difficulty during the year ended June 30, 2024.
The following tables present the aging of the principal balance outstanding past due loans as of June 30, 2024 and 2023, by class of loans. The tables include loans acquired with deteriorated credit quality. At June 30, 2024, the table below includes $28,000 in loans 30-59 days past due and approximately $33,000 of loans past due over 90 days that were acquired with deteriorated credit quality, while at June 30, 2023, the table below includes $68,000 in loans 30-89 days past due and approximately $58,000 of loans past due over 90 days of such loans.
June 30, 2024:
| (in thousands) | 30-59 Days Past Due | 60-89 Days Past Due | 90 Days or Greater | Total Past Due | Loans Not Past Due | Total |
|---|---|---|---|---|---|---|
| Residential real estate | ||||||
| One- to four-family | $4,517 | $847 | $1,080 | $6,444 | $249,772 | $256,216 |
| Multi-family | - | - | - | - | 15,815 | 15,815 |
| Construction | 1,085 | 60 | - | 1,145 | 12,670 | 13,815 |
| Land | 55 | - | - | 55 | 909 | 964 |
| Farm | - | - | - | - | 1,169 | 1,169 |
| Nonresidential real estate | 840 | - | - | 840 | 33,468 | 34,308 |
| Commercial and industrial | 4 | - | - | 4 | 696 | 700 |
| Consumer and other | ||||||
| Loans on deposits | - | - | - | - | 819 | 819 |
| Home equity | - | - | 28 | 28 | 10,616 | 10,644 |
| Automobile | - | - | - | - | 117 | 117 |
| Unsecured | 14 | - | 14 | 571 | 585 | |
| $6,515 | $907 | $1,108 | $8,530 | $326,662 | $335,152 | |
| (in thousands) | 30-59 Days Past Due | 60-89 Days Past Due | 90 Days or Greater | Total Past Due | Loans Not Past Due | Total |
|---|---|---|---|---|---|---|
| Residential real estate | ||||||
| One- to four-family | $2,466 | $949 | $1,514 | $4,929 | $235,147 | $240,076 |
| Multi-family | - | - | - | - | 19,067 | 19,067 |
| Construction | - | - | - | - | 12,294 | 12,294 |
| Land | - | - | - | - | 470 | 470 |
| Farm | - | - | - | - | 1,346 | 1,346 |
| Nonresidential real estate | 662 | - | - | 662 | 29,555 | 30,217 |
| Commercial and industrial | - | - | 28 | 28 | 1,156 | 1,184 |
| Consumer and other | ||||||
| Loans on deposits | - | - | - | - | 855 | 855 |
| Home equity | 168 | - | 267 | 435 | 8,782 | 9,217 |
| Automobile | - | - | - | - | 104 | 104 |
| Unsecured | 17 | - | - | 17 | 594 | 611 |
| $3,313 | $949 | $1,809 | $6,071 | $309,370 | $315,441 | |
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