Kentucky First Federal Bancorp in Frankfort has been freed from an enforcement action.
The company said in a press release that the Office of the Comptroller of the Currency released its bank from a August 2024 formal written agreement. With the termination of the agreement, the bank is no longer considered in “troubled condition.”
“We are very pleased to have the agreement terminated in less than 20 months,” R. Clay Hulette, the company’s president and CEO, said in the release. “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.”
The individual minimum capital requirements imposed with the agreement will no longer be enforced, although the bank’s capital levels have exceeded the required levels.