Cheviot Financial Corp. Completes Acquisition of First Franklin Corporation

Cheviot Financial Corp. (Nasdaq:CHEV), the parent company of Cheviot Savings Bank, today announced that it has completed its acquisition of First Franklin Corporation, the Blue Ash-based parent company of The Franklin Savings and Loan Company. Under the terms of the agreement, stockholders of First Franklin are entitled to receive $14.50 in cash for each share they hold.

"We're proud to welcome the Franklin customers and employees to continue the banking tradition that Cheviot Savings Bank has established for over a century." said Thomas J. Linneman, President and CEO of Cheviot Financial and Cheviot Savings Bank. 

As a result of the acquisition, Cheviot Savings Bank now has 12 branch offices and its asset size has increased by approximately $250 million to over $600 million. For more information about Cheviot Savings Bank, please visit Cheviot Savings Bank's website at www.cheviotsavings.com.

CONTACT:  Media Contact:
          Thomas J. Linneman
          513-661-0457
          [e-mail]