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CF BANCORP, INC. ANNOUNCES INCREASED EARNINGS

 DAVENPORT, Iowa, Jan. 15 /PRNewswire/ -- Paul Eckert, Chairman and CEO of CF Bancorp (NASDAQ-NMS: CFBC), announced second quarter earnings of $503,000. This compared to second quarter earnings in the prior year of $477,000. Second quarter fully diluted earnings per share was $0.53.
 Earnings for the first two quarters of fiscal 1993 totaled $1,065,000 versus $1,035,000 for the same period in fiscal 1992. Fully diluted earnings per share for the first six months was $1.13. Return on assets was 1.40 percent for the first six months of fiscal 1993 versus 1.39 percent for the prior year period.
 Eckert attributed the continued excellent earnings to a favorable interest rate environment and a stable local economy.
 CF Bancorp, Inc., holding company for Citizens Federal Savings Bank, Davenport, Iowa, trades on the NASDAQ National Market System under the Symbol CFBC. The stock was first issued on July 1, 1992 for $10.00 per share and recently was bid at $17.50 per share. The company recently announced a quarterly dividend of seven cents per share payable Jan. 29, 1993 for shareholders of record on Jan. 15, 1993.
 -0- 1/15/93
 /CONTACT: Greg Bohac of CF Bancorp, 319-322-6237/
 (CFBC)


CO: CF Bancorp, Inc. ST: Iowa IN: FIN SU: ERN

CM -- CH003 -- 5445 01/15/93 15:02 EST
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Publication:PR Newswire
Date:Jan 15, 1993
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