In The News

Cheviot Financial Corp. Reports 2007 Second-Quarter Earnings

CINCINNATI, Ohio – July 23, 2007 – Cheviot Financial Corp. (NASDAQ: CHEV), the parent company of Cheviot Savings Bank, today reported net earnings in the second fiscal quarter of 2007 of $272,000, or $0.03 cents per share compared with net earnings of $406,000, or $0.04 cents per share for the second fiscal quarter of 2006. For the six months ended June 30, 2007 net earnings was $478,000, or $0.05 cents per share compared with net earnings of $867,000, or $0.09 cents per share for the six months ended June 30, 2006. The quarter-over-quarter decrease in net earnings reflects a $121,000 decrease in net interest income and a $100,000 increase in general, administrative and other expenses, which were partially offset by a $26,000 increase in other income and a decrease of $61,000 in the provision for federal income taxes. For the first six months of 2007, the Company’s decline in earnings was generally driven by a decrease of $269,000 in net interest income, as well as an increase of $347,000 in general, administrative and other expenses, which were partially offset by a $35,000 increase in other income and a decrease of $192,000 in the provision for federal income taxes. At June 30, 2007, Cheviot Financial Corp. had consolidated total assets of $316.5 million, total liabilities of $246.7 million, including deposits of $212.3 million, and shareholders’ equity of $69.7 million, or 22.0% 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.

Click here for Investor Relations information from Cheviot Savings Bank.