Community Investors Bancorp, Inc. Reports Net Earnings for the Nine and Three Months Ended March 31, 2004

Community Investors Bancorp, Inc. Reports Net Earnings for the
Nine and Three Months Ended March 31, 2004 


BUCYRUS, Ohio, April 26  /PRNewswire-FirstCall/ -- Community Investors Bancorp,
Inc. , parent company of First Federal Community Bank of Bucyrus, reported net
earnings of $609,000, or $.57 per basic share, for the nine months ended March
31, 2004, compared to the $846,000, or $.79 per basic share, of net earnings
recorded for the nine month period ended March 31, 2003.  The Company reported
a $341,000, or 18.7%, increase in general, administrative and other expense,
which was partially offset by an $80,000, or 26.5%, increase in other income
and a $125,000 decrease in federal income tax expense.  The increase in
general, administrative and other expense in the 2004 nine month period
reflects expenses incurred with the Company's growth initiatives, including the
implementation of Internet banking and the construction of two new branch
office facilities.  The Internet banking system, implemented in the second
quarter, will allow the Company to provide better service to its customers and
provide for future growth.

Net earnings for the quarter ended March 31, 2004 totaled $190,000, or $.17 per
basic share, a decrease of $67,000, or 26.1%, compared to net earnings of
$257,000, or $.24 per basic share, reported in the 2003 quarter. The decrease
in quarterly net earnings was due primarily to a $132,000, or 21.5% increase in
general, administrative and other expense, which was partially offset by a
$20,000, or 19.0% increase in other income, coupled with a decrease of $37,000
in federal income tax expense.

Community Investors Bancorp, Inc. reported total assets at March 31, 2004, of
$121.6 million, total liabilities of $108.2 million, including total deposits
of $86.6 million and total stockholders' equity of $13.4 million.

First Federal Community Bank of Bucyrus has served the Bucyrus and Crawford
County area since 1888.  The Company currently has four office locations plus a
free-standing ATM facility in Crawford County.

                    Community Investors Bancorp, Inc.
         CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                              (In thousands)

                                                 March 31,       June 30,
       ASSETS                                         2004           2003

  Cash and cash equivalents                         $7,503        $14,375
  Investment securities                             10,831          7,249
  Mortgage-backed securities                         1,316          2,065
  Loans receivable                                  96,493         94,523
  Other assets                                       5,409          4,446

      Total assets                                $121,552       $122,658

      LIABILITIES AND SHAREHOLDERS' EQUITY

  Deposits                                         $86,554        $88,065
  Advances from the Federal Home Loan Bank          21,067         21,244
  Other liabilities                                    533            505
      Total liabilities                            108,154        109,814

  Shareholders' equity                              13,398         12,844

      Total liabilities and shareholders' equity  $121,552       $122,658


                    Community Investors Bancorp, Inc.
              CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
                    (In thousands, except share data)

                                Nine months ended        Three months ended
                                     March 31,                March 31,
                                2004         2003         2004         2003

  Total interest income       $4,771       $5,492       $1,564       $1,740
  Total interest expense       1,970        2,657          615          834
  Net interest income          2,801        2,835          949          906
  Provision for losses
    on loans                     102           35           43            8
      Net interest income
        after provision for
        losses on loans        2,699        2,800          906          898
  Other income                   382          302          125          105
  General, administrative
    and other expense          2,162        1,821          745          613
      Earnings before
        income taxes             919        1,281          286          390
  Federal income taxes           310          435           96          133
      NET EARNINGS              $609         $846         $190         $257

      EARNINGS PER SHARE
        Basic                  $0.57        $0.79        $0.17        $0.24
        Diluted                $0.56        $0.77        $0.17        $0.23


DATASOURCE: Community Investors Bancorp, Inc.



CONTACT:  Brian R. Buckley, Vice President, Community Investors Bancorp,

Inc., [phone]



Web site:  http://www.ffcb.com/ 

Copyright