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Cheviot Financial Corp.
Cheviot Financial Corp. Reports First-Quarter Earnings
CINCINNATI, April 24, 2009 (GLOBE NEWSWIRE) -- Cheviot Financial Corp. (Nasdaq:CHEV), the parent company of Cheviot Savings Bank, today reported net earnings for the first fiscal quarter of 2009 of $293,000, or $0.03 cents per share compared with net earnings of $97,000, or $0.01 cents per share for the first fiscal quarter of 2008. The increase in net income during the three months ended March 31, 2009 as compared to the period ended March 31, 2008 reflects the positive impact of a steeper yield curve on Cheviot Savings Bank net interest income, partially offset by higher provisions for losses on loans reflecting the general weakening of the local economy.