SOURCE: CFS Bancorp, Inc.

March 24, 2005 14:25 ET

CFS Bancorp, Inc. Increases Cash Dividend 9%

MUNSTER, IN -- (MARKET WIRE) -- March 24, 2005 -- CFS Bancorp, Inc. (NASDAQ: CITZ) announced today that its Board of Directors declared a quarterly cash dividend on March 21, 2005 of $0.12 (twelve cents) per share on the common stock of the Company. This represents a 9% increase over the previous quarter. The dividend will be paid on April 29, 2005 to the stockholders of record at the close of business on April 8, 2005.

CFS Bancorp, Inc. has paid a cash dividend each quarter since its initial public offering in July 1998.

CFS Bancorp, Inc. is the parent of Citizens Financial Services, FSB, a $1.3 billion asset federal savings bank. Citizens Financial Services provides community banking services and currently operates 24 offices throughout adjoining markets in Chicago's Southland and Northwest Indiana. The Company maintains a website at

This press release may contain certain forward-looking statements and information relating to the Company that are based on the beliefs of management as well as assumptions made by and information currently available to management. The words "anticipate," "believe," "estimate," "expect," "indicate" "intend," "should," and similar expressions, or the negative thereof, as they relate to the Company or the Company's management, are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events that are subject to certain risks and uncertainties that may cause actual results to vary. The Company does not intend to update these forward-looking statements.

Contact Information

    Thomas F. Prisby
    Chairman of the Board and Chief Executive Officer