CKF Bancorp, Inc. Announces Earnings for Three Months Ended September 30, 2011

DANVILLE, Ky.--(BUSINESS WIRE)--

CKF Bancorp, Inc. CKFB, parent company of Central Kentucky Federal Savings Bank, reported consolidated net earnings of $68,395 for the three months ended September 30, 2011 compared to $82,095 for the three months ended September 30, 2010. Diluted earnings per share were $.06 for the three months ended September 30, 2011 compared to $.07 diluted earnings per share for the three months ended September 30, 2010.

Consolidated net earnings for the nine months ending September 30, 2011 were $191,793 compared to $241,555 for the nine months ended September 30, 2010. Diluted earnings per share were $.16 for the nine months ended September 30, 2011 compared to $.20 diluted earnings per share for the nine months ended September 30, 2010.

Total assets at September 30, 2011 were $131.1 million compared to $130.5 million at December 31, 2010. Loans receivable at September 30, 2011 were $110.8 million and were $108.5 million at December 31, 2010. Deposits were $103.5 million at September 30, 2011 and were $101.1 million at December 31, 2010.

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.

CKF BANCORP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
								September 30,				December 31,
ASSETS								2011				2010
Cash and cash equivalents								$	2,057,551			$	5,167,995
Investment securities									12,237,650				10,911,623
Federal Home Loan Bank stock									2,091,000				2,091,000
Loans receivable									110,780,175				108,489,854
Allowance for loan losses									(1,748,885	)			(1,699,292	)
Repossessed real estate									1,475,929				1,205,084
Other assets									4,254,996				4,308,504
Total assets								$	131,148,416			$	130,474,768
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits								$	103,512,569			$	101,086,844
Advances from the Federal Home Loan Bank									13,000,000				15,000,000
Other liabilities									562,558				430,058
Total liabilities									117,075,127				116,516,902
Shareholders' equity									14,073,289				13,957,866
Total liabilities and shareholders' equity								$	131,148,416			$	130,474,768
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
		Nine months ended						Three months ended
		September 30,						September 30,
		2011			2010			2011				2010
Total interest income		$	4,741,083		$	5,100,920		$	1,587,608			$	1,697,394
Total interest expense			1,529,624			1,835,183			495,532				575,806
Net interest income			3,211,459			3,265,737			1,092,076				1,121,588
Provision for losses on loans			600,000			600,000			150,000				240,000
Net interest income after provision for losses on loans			2,611,459			2,665,737			942,076				881,588
Other income			121,214			16,728			20,181				15,113
General, administrative and other expense			2,440,203			2,315,532			858,418				772,002
Earnings before income taxes			292,470			366,933			103,839				124,699
Federal income taxes			100,677			125,378			35,444				42,604
NET EARNINGS		$	191,793		$	241,555		$	68,395			$	82,095
EARNINGS PER SHARE
Basic		$	.16		$	.20		$	.06			$	.07
Diluted		$	.16		$	.20		$	.06			$	.07
DIVIDENDS DECLARED PER SHARE		$	.06		$	.02		$	.05			$	.01
WEIGHTED-AVERAGE SHARES OUTSTANDING
Basic			1,224,848			1,225,592			1,224,839				1,225,217
Diluted			1,224,848			1,225,592			1,224,839				1,225,217