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Cheviot Financial Corp. Reports First Quarter Earnings

CINCINNATI, Ohio – April 20, 2007 – Cheviot Financial Corp. (NASDAQ: CHEV), the parent company of Cheviot Savings Bank, today reported net earnings in the first fiscal quarter of 2007 of $206,000, or $0.02 cents per share compared with net earnings of $461,000, or $0.05 cents per share for the first fiscal quarter of 2006. The quarter-over-quarter decrease in net earnings reflects a $149,000 decrease in net interest income and a $247,000 increase in general and administrative expenses which reflects the growth in our branches. The increase in our general and administrative expense was partially offset by a $9,000 increase in other income and a decrease of $132,000 in the provision for federal income taxes. At March 31, 2007, Cheviot Financial Corp. had consolidated total assets of $314.6 million, total liabilities of $243.0 million, including deposits of $212.5 million, and shareholders’ equity of $71.6 million, or 22.8% of total assets. Cheviot Savings Bank was established in 1911 and currently has six full-service offices in Hamilton County, Ohio, as well as one loan production office in West Chester, 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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