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Cheviot Financial Corp. Reports First-Quarter Earnings

Cheviot Financial Corp. Reports First-Quarter Earnings CINCINNATI, Ohio – April 15, 2005 – Cheviot Financial Corp. (NASDAQ: CHEV), the parent company of Cheviot Savings Bank, today reported net earnings in the first fiscal quarter of 2005 of $639,000, or 7 cents per share compared with a net loss of $692,000 for the first fiscal quarter of 2004. The quarter-over-quarter increase in net earnings reflects a $1.4 million decrease in general and administrative expenses as a result of a one-time $1.5 million expense recorded during the first quarter of 2004 in connection with the Company’s contribution to the Cheviot Savings Bank Charitable Foundation. In addition, net interest income increased $226,000 as well as a $3,000 increase in other income. “The growth in income and earnings for the first quarter was in line with expectations,” said Thomas J. Linneman, President of Cheviot Financial Corp. “We remain comfortable with our operating plans and are committed to providing customers and shareholders with continued strong performance. Reflecting our confidence in our business plan and our commitment to our shareholders, we announced the first stock repurchase program for shares representing 5% of our outstanding shares.” Excluding the after-tax effects of the charitable contribution during the first quarter of 2004, the Company’s quarter-over-quarter net earnings increased 15.6 percent or $86,000. The increase is attributable primarily to an increase in net interest income and other income, which were partially offset by an increase in the provision for federal income taxes. At March 31, 2005, Cheviot Financial Corp. had consolidated total assets of $280.9 million, total liabilities of $202.5 million, including deposits of $179.9 million, and shareholders’ equity of $78.4 million, or 27.9% of total assets. Cheviot Savings Bank was established in 1911 and currently has four full-service offices in Hamilton County, Ohio, as well as one loan production office in Mason, Ohio. # # # "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this release which are not historical facts are forward-looking and involve risks and uncertainties. The company undertakes no obligation to update any forward-looking statement.

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