CKF Bancorp, Inc. Announces Earnings for the Three Months Ended March 31, 2009 and Announces the Intention to Repurchase Additional Stock

Business Wire, April 16, 2009

DANVILLE, Ky. -- CKF Bancorp, Inc. (OTCBB:CKFB), parent company of Central Kentucky Federal Savings Bank, reported consolidated net earnings of $140,174 for the three months ended March 31, 2009 compared to $150,283 for the three months ended March 31, 2008. Diluted earnings per share were $.11 for the three months ended March 31, 2009 compared to $.12 diluted earnings per share for the three months ended March 31, 2008.

Total assets at March 31, 2009 were $138.2 million compared to $140.9 million at December 31, 2008. Loans receivable at March 31, 2009 were $116.4 million compared to $119.5 million at December 31, 2008. Deposits were $99.6 million at March 31, 2009 and were $98.7 million at December 31, 2008.

In other business, CKF Bancorp, Inc. announced that it had completed its repurchase of 38,832 shares, or 3% of its outstanding common stock, related to a Repurchase Plan announced July 11, 2008. Further, CKF Bancorp, Inc. announced that it intends to repurchase, additionally, up to 62,678 shares of its own stock, which is equal to 5% of the current outstanding common shares, beginning not earlier than April 20, 2009. The repurchased shares will become treasury shares and will be used for general corporate purposes. The repurchase program will be dependent upon market conditions and the availability of shares, and there is no guarantee as to the exact number of shares to be repurchased by the Company.

Mr. William H. Johnson, President and Chief Executive Officer of the Company, stated that the Board of Directors believes that the common stock provides an attractive investment and that the repurchases will improve liquidity in the market for the common stock. In addition, the repurchases are expected to increase the Company's earnings per share. According to Mr. Johnson, the repurchases generally would be effected through open market purchases, although he did not rule out the possibility of unsolicited negotiated transactions or other types of repurchases.

Central Kentucky Federal Savings Bank's main office is located at 340 W. Main Street, Danville, Kentucky. The Bank also operates two full service branch offices, located in Danville and Lancaster, Kentucky.

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