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CKF Bancorp, Inc. Announces Earnings for the Three Months Ended December 31, 2010 and Payment of a Cash Dividend to Stockholder

^{Published on 2011-01-18 07:15:30 - Market Wire}
 

DANVILLE, Ky.--([ BUSINESS WIRE ])--CKF Bancorp, Inc. (OTCBB:CKFB), parent company of Central Kentucky Federal Savings Bank, reported consolidated net earnings of $14,421 for the three months ended December 31, 2010 compared to a net loss of $130,844 for the three months ended December 31, 2009. Diluted earnings per share were $.01 for the three months ended December 31, 2010 compared to a diluted loss per share of $.10 for the three months ended December 31, 2009.

Consolidated net earnings were $255,976 for the twelve months ending December 31, 2010 compared to $130,605 for the twelve months ended December 31, 2009. Diluted earnings per share were $.21 for the twelve months ended December 31, 2010 compared to $.11 diluted earnings per share for the twelve months ended December 31, 2009.

Total assets of CKF Bancorp, Inc. at December 31, 2010 were $130.5 million compared to $130.8 million at December 31, 2009. Loans receivable at December 31, 2010 were $108.5 million compared to $110.5 million at December 31, 2009. Deposits were $101.0 million at December 31, 2010 and were $95.5 million at December 31, 2009.

Also, CKF Bancorp, Inca™s Board of Directors has declared a semi-annual cash dividend of $ .01 per share, payable on February 10, 2011, to stockholders of record as of January 28, 2011. The cash dividend is equal to the amount paid in the previous semi-annual period.

William H. Johnson, President and Chief Executive Officer of the Company, stated that the Board of Directors determined that the payment of this dividend was appropriate in light of the Companya™s capital position and financial condition. Though the Company remains well capitalized as defined by regulation, the Board deems it prudent given the banking industrya™s current economic condition to preserve capital by continuing to pay a minimal dividend.

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 in Lancaster, Kentucky.