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Kentucky First Federal (KFFB) Receives Regulatory Approval for Merger with CKF Bancorp (CKFB)

 November 30, 2012 04:03 PM


(By Balaseshan) Kentucky First Federal Bancorp (NASDAQ: KFFB) said it has received final regulatory approval for the proposed merger with CKF Bancorp Inc. (PINK: CKFB)

The receipt of the approvals allows Kentucky First and CKF Bancorp to finalize plans to complete the merger.

CKF Bancorp will be merged into Kentucky First Federal Bancorp and Central Kentucky Federal Savings Bank will be merged into First Federal Savings Bank of Frankfort.

It is anticipated that details about the timeline for merger completion will be available in the next few days.

At a special meeting held on July 2, shareholders of CKF Bancorp have casted 98 percent of the votes in favor of the merger by and among Kentucky First, CKF Bancorp and Central Kentucky Federal Savings.

Kentucky First is a mid-tier holding company. Its subsidiary is Frankfort First Bancorp Inc., and holds all of the capital stock of First Federal Savings and Loan Association of Hazard and First Federal Savings Bank of Frankfort, Frankfort, Kentucky.

KFFB remains unchanged from previous close of $8.23. The stock has been trading between $7.25 and $9.26 for the past 52 weeks.

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