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Cheviot Financial Corp Reports First-Quarter Earnings

CINCINNATI, Ohio – April 21, 2006 – Cheviot Financial Corp. (NASDAQ: CHEV), the parent company of Cheviot Savings Bank, today reported net earnings in the first fiscal quarter of 2006 of $461,000, or 5 cents per share compared with net earnings of $639,000, or 7 cents per share for the first fiscal quarter of 2005. The quarter-over-quarter decrease in net earnings reflects a $126,000 decrease in net interest income and a $204,000 increase in general and administrative expenses, which were partially offset by a $41,000 increase in other income and a decrease of $111,000 in the provision for federal income taxes. At March 31, 2006, Cheviot Financial Corp. had consolidated total assets of $293.6 million, total liabilities of $219.6 million, including deposits of $183.3 million, and shareholders’ equity of $74.0 million, or 25.2% 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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