Cheviot Financial Corp. declared a $0.10 dividend for the third fiscal quarter of 2009. The dividend is payable on September 30, 2009 to owners of record as of September 15, 2009.
Cheviot Financial Corp. also reported net income of $225,000, or $0.03 cents per share, in its most recent completed quarter. This was approximately half the $446,000, or $0.05 per share, reported in the same quarter of 2008.
The bank ended the quarter with total assets of $342.5 million and deposits of $230 million. Cheviot Financial Corp. is more than adequately capitalized and reported the following capital ratios:
Tangible equity ratio â€“ 17%
Core capital ratio â€“ 17%
Risk-based capital ratio – 34.2%
The bank was founded in 1911 as the Cheviot Building and Loan Company, and changed its name to Cheviot Savings Bank in 2003. Cheviot Financial Corp. operates under a mutual savings organizational structure.
Cheviot Financial Corp. owns a banking subsidiary called Cheviot Savings Bank, which operates six branches in Hamilton County, Ohio. Cheviot Financial Corp. is majority owned by the Cheviot Mutual Holding Company.