SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB
(Mark One)
[X]  Annual report  pursuant to section 13 or 15(d) of the  Securities  Exchange
     Act of 1934 For the fiscal year ended December 31, 1999
                                           -----------------

[ ]  Transition  report  pursuant  to  section  13 or  15(d)  of the  Securities
     Exchange Act of 1934

         For the transition period from              to             .
                                        ------------    ------------

Commission File No. 0-22587

                                SFB Bancorp, Inc.
--------------------------------------------------------------------------------
                 (Name of Small Business Issuer in Its Charter)

                          Tennessee                         62-1683732
----------------------------------------------           -------------------
(State or Other Jurisdiction of Incorporation            (I.R.S. Employer
Organization)                                            Identification No.)

632 East Elk Avenue, Elizabethton, Tennessee                  37643
--------------------------------------------             ---------------
(Address of Principal Executive Offices)                    (Zip Code)

                (423) 543-1000
-------------------------------------------------
 (Issuer's Telephone Number, Including Area Code)


Securities registered under to Section 12(b) of the Exchange Act:       None
                                                                        ----

Securities registered under to Section 12(g) of the Exchange Act:

                     Common Stock, par value $0.10 per share
                     ---------------------------------------
                                (Title of Class)

         Check  whether  the issuer:  (1) has filed all  reports  required to be
filed by Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or
for such shorter  period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.
YES  X     NO    .
    ---       ---

         Check if there is no  disclosure  of  delinquent  filers in response to
Item 405 of  Regulation  S-B contained in this form,  and no disclosure  will be
contained,  to the  best of  registrant's  knowledge,  in  definitive  proxy  or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB. [X ]

State issuer's revenues for its most recent fiscal year:  $3,997,000
                                                           ---------

The  aggregate  market value of the voting stock held by  non-affiliates  of the
registrant,  based on the average bid and asked price of the registrant's Common
Stock on March 15, 2000 was $5.4 million.

As of March 15, 2000,  there were issued and  outstanding  639,417 shares of the
registrant's Common Stock.

Transition Small Business Disclosure Format (check one):  YES      NO  X
                                                              --      ---
                       DOCUMENTS INCORPORATED BY REFERENCE

1.   Portions  of the Annual  Report to  Stockholders  for the Fiscal Year ended
     December 31, 1999. (Part II)
2.   Portions of the Proxy Statement for the Annual Meeting of Stockholders  for
     the Fiscal Year ended December 31, 1999. (Part III)
<PAGE>

Item 13. Exhibits, List and Reports on Form 8-K

         (a)      Listed below are all exhibits filed as part of this report.
                  13       Auditor's Opinion


<PAGE>

                                   SIGNATURES

         Pursuant to the  requirements  of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its   behalf   by   the   undersigned,   thereunto   duly   authorized   as   of
April 28, 2000.

                                       SFB BANCORP, INC.


                                       By:  /s/ Peter W. Hampton
                                                --------------------------------
                                                Peter W. Hampton
                                                President and Director
                                                (Duly Authorized Representative)

         Pursuant to the  requirement  of the  Securities  Exchange Act of 1934,
this  report has been  signed  below by the  following  persons on behalf of the
registrant and in the capacities indicated as of April 28, 2000.


/s/Peter W. Hampton                              /s/Donald W. Tetrick
-----------------------------------------        -------------------------------
Peter W. Hampton                                 Donald W. Tetrick
President and Director                           Director
(Principal Executive Officer)


/s/Peter W. Hampton, Jr.                         /s/John R. Crockett, Jr.
-----------------------------------------        -------------------------------
Peter W. Hampton, Jr.                            John R. Crockett, Jr.
Secretary, Treasurer and Director                Director


                                                 /s/Michael L. McKinney
-----------------------------------------        -------------------------------
Julian T. Caudill, Jr.                           Michael L. McKinney
Vice President and Director                      Director


/s/Bobby Hyatt
-----------------------------------------
Bobby Hyatt
Principal Accounting Officer