<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
KENTUCKY FIRST BANCORP, INC.
- --------------------------------------------------------------------------------
(NAME OF ISSUER)
COMMON STOCK
- --------------------------------------------------------------------------------
(TITLE OF CLASS OF SECURITIES)
491290102
- --------------------------------------------------------------------------------
(CUSIP NUMBER)
PAUL LYNCH, 11 VICTORIA DRIVE, NEW CASTLE, PA 16105 724-654-6666
- --------------------------------------------------------------------------------
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
APRIL 27, 1999
- --------------------------------------------------------------------------------
(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d.1(e), 240-13d-1(f) or 240.13d-1(g), check
the following box. [ ]
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED
IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY
VALID OMB CONTROL NUMBER.
<PAGE> 2
CUSIP No. 491290102 SCHEDULE 13D
---------------------
(1) Names of Reporting Persons. PAUL LYNCH
S.S. or I.R.S. Identification Nos. of Above Persons ###-##-####
---------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
(3) SEC Use Only
---------------------------------------------------------------------
(4) SOURCE OF FUNDS (See Instructions) PF
---------------------------------------------------------------------
(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
---------------------------------------------------------------------
(6) Citizenship or Place of Organization United State of America
---------------------------------------------------------------------
(7) Sole Voting Power 60,189.013
Number of
Shares --------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by
Each --------------------------------------------------------
Reporting (9) Sole Dispositive Power 60,189.013
Person With
--------------------------------------------------------
(10) Shared Dispositive Power
--------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person 60,189
---------------------------------------------------------------------
(12) Check if Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions) [ ]
---------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 5.1%
---------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) IN
---------------------------------------------------------------------
INSTRUCTIONS FOR COVER PAGE
(1) Names and I.R.S. Identification Numbers of Reporting Persons - Furnish the
full legal name of each person for whom the report is filed - i.e., each
person required to sign the schedule itself - including each member of a
group. Do not include the name of a person required to be identified in
the report but who is not a reporting person. Reporting persons that are
entities are also requested to furnish their I.R.S. identification numbers,
although disclosure of such numbers is voluntary, not mandatory (see
"SPECIAL INSTRUCTIONS FOR COMPLYING WITH SCHEDULE 13D" below).
(2) If any of the shares beneficially owned by a reporting person are held as
a member of a group and the membership is expressly affirmed, please check
row 2(a). If the reporting person disclaims membership in a group or
describes a relationship with other persons but does not affirm the
existence of a group, please check row 2(b) [unless it is a joint filing
pursuant to Rule 13d-1(k)(1) in which case it may not be necessary to
check row 2(b)].
(3) The 3rd row is for SEC internal use; please leave blank.
<PAGE> 3
Item 1. Security and Issuer
The class of equity securities to which this statement relates is the common
stock of Kentucky First Bancorp, Inc., with its principal executive offices
located at 306 North Main Street, Cynthiana, Kentucky 41031.
Item 2. Identity and Background
A. Paul Lynch
B. 11 Victoria Drive
New Castle, Pennsylvania 16105
C. Paul Lynch is a partner in the law firm of Lynch & Gallitto,
Attorneys-at-law, 2625 Wilmington Road, New Castle, Pennsylvania 16105.
D. During the last five years, Paul Lynch has not been convicted in a
criminal proceeding.
E. During the last five years, Paul Lynch has not been a party to a civil
proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceedings was or is subject to a
judgement, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to federal or state
securities laws or finding any violation with respect to such laws.
F. Paul Lynch is a citizen of the United States of America.
Item 3. Source and Amount of Funds or Other Considerations
Paul Lynch is the beneficial owner of 60,189,013 shares of Common Stock of
Kentucky First Bancorp, Inc. The shares were purchased as follows:
<PAGE> 4
Registered Owner Number of Shares Aggregate Costs
- ---------------- ---------------- ---------------
Paul & Marcia Lynch
Family Trust 3,725.840 $ 47,472.50
Paul Lynch Foundation 6,600.000 $ 94,050.00
Marcia Lynch 1,071.550 $ 14,627.50
Individual Retirement
Account for Marcia Lynch 1,600.656 $ 22,764.38
Paul Lynch 19,050.093 $261,523.85
Paul & Marcia Lynch 6,875.912 $ 84,225.00
Individual Retirement
Account for Paul Lynch 21,264.962 $307,335.00
---------- -----------
TOTAL: 60,189.013 $831,998.23
Paul Lynch is the sole trustee of the Paul and Marcia Lynch Family Trust
and has sole disposition and voting power as to the shares held by the
Foundation.
Paul Lynch is the sole trustee of the Paul Lynch Foundation and has sole
disposition and voting power as to the shares held by the trustee.
Marcia Lynch is the wife of Paul Lynch. Paul Lynch had sole voting and
disposition power for all shares held by Marcia Lynch, and/or jointly
between Paul and Marcia Lynch.
All shares were purchased in over-the-counter transactions through
standard brokerage accounts.
All shares, except those held by the Paul Lynch Foundation, were purchased
with the personal funds of Paul Lynch. The shares held by the Paul Lynch
Foundation were purchased with funds held by the foundation, which funds
were donated by Paul Lynch.
Item 4. Purpose of Transaction
Paul Lynch, Marcia Lynch, the Paul & Marcia Lynch Family Trust and the
Paul Lynch Foundation set forth in Item 3 above have acquired.
<PAGE> 5
the shares of Common Stock of Kentucky First Bancorp, Inc. for investment
purposes and without any purpose of changing or influencing the control of
Kentucky First Bancorp, Inc. Consistent with this purpose, Paul Lynch
routinely monitors the performance of companies in which he invests through
the review of their periodic financial statements and reports, and intends
to do so with Kentucky first Bancorp, Inc. In connection therewith, Paul
Lynch sometimes engages in oral and written communication with the officers
of a company to discuss his views on its performance and increase
shareholder value. To the extent he deems appropriate, Paul Lynch, may
engage in such communications with the officers and directors of Kentucky
First Bancorp, Inc.
Paul Lynch also intends to request that the Board of Directors of Kentucky
First Bancorp, Inc. nominates Paul Lynch as director of the company.
Other than as described above, Paul Lynch, does not have any plan or
proposal which relates to or would result in any of the actions enumerated
in Item 4 of schedule 13D, except that Paul Lynch may dispose of some or
all of the Common Stock or may acquire shares of Common Stock, from time to
time, depending upon price and market conditions, evaluation of alternative
investments, and other factors.
Item 5. Interest in Securities of the Issuer
A. The Aggregate number of shares of Common Stock beneficially owned by
Paul Lynch for the purpose of this statement is 60,189.013,
representing 5.1% of the outstanding shares of Common Stock of
Kentucky First Bancorp, Inc.
B. Paul Lynch has the sole power to vote or direct the vote and sole
power to dispose or direct the disposition of the 60,189.013 shares of
Common Stock of Kentucky First Bancorp, Inc. as set forth in Item 3
above.
C. Entity Date No. of Shares Price/Share
------ ---- ------------- -----------
Paul & Marcia Lynch 4-21-99 500 11 7/8
Paul & Marcia Lynch 3-15-99 700 12 3/4
Paul & Marcia Lynch 3-22-99 800 12 3/4
Paul & Marcia Lynch 3-12-99 700 12 3/4
Paul & Marcia Lynch 4-26-99 300 11 7/8
<PAGE> 6
Paul & Marcia Lynch 4-23-99 300 11 7/8
Paul & Marcia Lynch 4-27-99 400 12
Paul & Marcia Lynch 3-19-99 300 12 3/4
Paul Lynch 4-14-99 200 12
Paul Lynch 4-13-99 2000 12
Paul Lynch 4-15-99 600 12
Paul Lynch 4-09-99 1000 12 1/4
Paul Lynch 4-08-99 1000 12 1/4
P. & M. Lynch Family Trust 4-21-99 500 11 7/8
P. & M. Lynch Family Trust 4-15-99 500 12
P. & M. Lynch Family Trust 4-27-99 500 12
All of the above transactions were effected in the over-the-counter
market through a standard brokerage account.
D. and E. - Not Applicable
Item 6. Contracts Arrangements or Relationships with Respect to Securities of
the Issuer
Not Applicable
Item 7. Materials to Filed with Exhibits
Not Applicable
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in the statement is true,
complete and correct.
April 27, 1999
/s/ PAUL LYNCH
Paul Lynch
