UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549
                                    FORM 10-Q
(Mark One)

[X]         QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
              OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended                          June 30, 2009
                                ------------------------------------------

                                       OR

[ ]         TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
              OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________ to _______________

Commission File No. 0-50529
                    -------
                             CHEVIOT FINANCIAL CORP.
 ------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

     Federal                                                  56-2423720
----------------------------------                       ----------------------
(State or other jurisdiction of                             (I.R.S. Employer
incorporation or organization)                           Identification Number)

                  3723 Glenmore Avenue, Cincinnati, Ohio 45211
-------------------------------------------------------------------------------
                     (Address of principal executive office)

Registrant's telephone number, including area code: (513) 661-0457

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by  Sections  13 or 15(d)  of the  Securities  Exchange  Act of 1934
during the preceding 12 months (or for such shorter  period that the  registrant
was  required  to file such  reports)  and (2) has been  subject to such  filing
requirements for the past 90 days.

Yes [X]           No  [ ]

Indicate by check mark whether the registrant is a large  accelerated  filer, an
accelerated  filer, or a  non-accelerated  filer. See definition of "accelerated
filer and large  accelerated  filer" in Rule 12b-2 of the Exchange  Act.  (Check
one.)

Large accelerated filer [ ]   Accelerated filer [ ]   Non-accelerated filer  [ ]

Small business issuer [X]

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).

Yes [ ]           No  [X]

As of August 12, 2009,  the latest  practicable  date,  8,868,706  shares of the
registrant's common stock, $.01 par value, were issued and outstanding.

Indicate by check mark whether the registrant has submitted  electronically  and
posted on its corporate Web site, if any, every  Interactive  Data File required
to be submitted  and posted  pursuant to Rule 405 of  Regulation  S-T during the
preceding 12 months (or for such shorter period that the registrant was required
to submit and post such files).

Yes [ ]           No  [ ]

                                    1 of 28
<PAGE>

                                      INDEX

                                                                           Page
                                                                           ----

PART I   -      FINANCIAL INFORMATION

                Consolidated Statements of Financial Condition               3

                Consolidated Statements of Earnings                          4

                Consolidated Statements of Comprehensive Income              5

                Consolidated Statements of Cash Flows                        6

                Notes to Consolidated Financial Statements                   8

                Management's Discussion and Analysis of
                Financial Condition and Results of
                Operations                                                  18

                Quantitative and Qualitative Disclosures about
                Market Risk                                                 25

                Controls and Procedures                                     25

PART II  -      OTHER INFORMATION                                           26

SIGNATURES                                                                  28


                                       2
<PAGE>



                             Cheviot Financial Corp.

                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

                        (In thousands, except share data)
<TABLE>
<CAPTION>

                                                                                           June 30,        December 31,
         ASSETS                                                                                2009                2008
                                                                                        (Unaudited)

<S>                                                                                      <C>                 <C>
Cash and due from banks                                                                  $    4,081          $    4,192
Federal funds sold                                                                            4,839               4,063
Interest-earning deposits in other financial institutions                                     9,811               1,758
                                                                                          ---------           ---------
       Cash and  cash equivalents                                                            18,731              10,013

Investment securities available for sale - at fair value                                     43,350              23,909
Investment securities held to maturity - at cost, approximate
  market value of $ - and $7,074 at June 30, 2009
  and December 31, 2008, respectively                                                             -               7,000
Mortgage-backed securities available for sale - at fair value                                 5,496                 648
Mortgage-backed securities held to maturity - at cost, approximate
  market value of $6,475 and $6,830 at June 30, 2009 and
  December 31, 2008, respectively                                                             6,368               6,915
Loans receivable - net                                                                      251,145             267,754
Loans held for sale-at lower of cost or market                                                  865                 729
Real estate acquired through foreclosure - net                                                1,995               1,064
Office premises and equipment - at depreciated cost                                           5,019               4,969
Federal Home Loan Bank stock - at cost                                                        3,369               3,369
Accrued interest receivable on loans                                                          1,138               1,159
Accrued interest receivable on mortgage-backed securities                                        42                  32
Accrued interest receivable on investments and interest-earning deposits                        267                 466
Prepaid expenses and other assets                                                               872                 297
Bank-owned life insurance                                                                     3,584               3,516
Prepaid federal income taxes                                                                    270                 160
                                                                                          ---------           ---------

         Total assets                                                                      $342,511            $332,000
                                                                                            =======             =======

         LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits                                                                                   $229,782            $216,048
Advances from the Federal Home Loan Bank                                                     40,336              44,604
Advances by borrowers for taxes and insurance                                                   541               1,464
Accrued interest payable                                                                        165                 172
Accounts payable and other liabilities                                                        2,673               1,069
Deferred federal income taxes                                                                   457                 412
                                                                                         ----------          ----------
         Total liabilities                                                                  273,954             263,769

Shareholders' equity
  Preferred stock - authorized 5,000,000 shares, $.01 par value; none issued
  Common stock - authorized 30,000,000 shares, $.01 par value;
    9,918,751 shares issued at June 30, 2009 and December 31, 2008, respectively                 99                  99
  Additional paid-in capital                                                                 43,719              43,625
  Shares acquired by stock benefit plans                                                     (2,426)             (2,829)
  Treasury stock - at cost, 1,050,045 and 1,046,247 shares at June 30, 2009
    and December 31, 2008, respectively                                                     (12,827)            (12,799)
  Retained earnings - restricted                                                             40,114              40,276
  Accumulated comprehensive loss, unrealized losses on securities
    available for sale, net of related tax effects                                             (122)               (141)
                                                                                         ----------          ----------
         Total shareholders' equity                                                          68,557              68,231
                                                                                           --------           ---------

         Total liabilities and shareholders' equity                                        $342,511            $332,000
                                                                                            =======             =======

See accompanying notes to consolidated financial statements.
</TABLE>

                                       3
<PAGE>


                             Cheviot Financial Corp.

                       CONSOLIDATED STATEMENTS OF EARNINGS

                      (In thousands, except per share data)

<TABLE>
<CAPTION>

                                                                          Six months ended             Three months ended
                                                                              June 30,                      June 30,
                                                                         2009         2008              2009         2008
                                                                                          (Unaudited)
<S>                                                                    <C>          <C>               <C>          <C>
Interest income
  Loans                                                                $7,527       $7,567            $3,678       $3,761
  Mortgage-backed securities                                              231          262               126          123
  Investment securities                                                   654        1,052               286          498
  Interest-earning deposits and other                                      25           70                15           38
                                                                      -------      -------           -------      -------
         Total interest income                                          8,437        8,951             4,105        4,420

Interest expense
  Deposits                                                              2,636        3,749             1,262        1,739
  Borrowings                                                              928          746               456          370
                                                                       ------       ------            ------       ------
         Total interest expense                                         3,564        4,495             1,718        2,109
                                                                        -----        -----             -----        -----

         Net interest income                                            4,873        4,456             2,387        2,311

Provision for losses on loans                                             452          288               115           25
                                                                       ------       ------            ------      -------

         Net interest income after provision for losses on loans        4,421        4,168             2,272        2,286

Other income (expense)
  Rental                                                                   25           25                12           13
  Gain on sale of loans                                                   272            9               141            5
  Gain (loss) on sale of real estate acquired through foreclosure         (49)         (43)              (29)          16
  Earnings on bank-owned life insurance                                    68           65                34           33
  Other operating                                                         158          159                85           86
                                                                       ------       ------           -------      -------
         Total other income                                               474          215               243          153

General, administrative and other expense
  Employee compensation and benefits                                    2,284        2,096             1,166        1,078
  Occupancy and equipment                                                 281          278               138          128
  Property, payroll and other taxes                                       509          491               259          250
  Data processing                                                         184          159                99           77
  Legal and professional                                                  220          192                88           68
  Advertising                                                             100          100                50           50
  FDIC expense                                                            157           13               147            6
  Other operating                                                         426          310               234          174
                                                                       ------       ------            ------       ------
         Total general, administrative and other expense                4,161        3,639             2,181        1,831
                                                                        -----        -----             -----        -----

         Earnings before income taxes                                     734          744               334          608

Federal income taxes
  Current                                                                 181          108                16           56
  Deferred                                                                 35           93                93          106
                                                                      -------      -------            ------        -----
         Total federal income taxes                                       216          201               109          162
                                                                       ------       ------             -----        -----
         NET EARNINGS                                                 $   518      $   543           $   225      $   446
                                                                       ======       ======            ======       ======
         EARNINGS PER SHARE
           Basic                                                         $.06         $.06              $.03         $.05
                                                                          ===          ===               ===          ===
           Diluted                                                       $.06         $.06              $.03         $.05
                                                                          ===          ===               ===          ===
           Dividends per common share                                    $.20         $.18              $.10         $.09
                                                                          ===          ===               ===          ===


See accompanying notes to consolidated financial statements.
</TABLE>

                                       4

<PAGE>

                             Cheviot Financial Corp.

                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

            For the six and three months ended June 30, 2009 and 2008
                                 (In thousands)

<TABLE>
<CAPTION>

                                                                       For the six months           For the three months
                                                                         ended June 30,                ended June 30,
                                                                       2009         2008              2009         2008
                                                                                         (Unaudited)
<S>                                                                   <C>          <C>               <C>            <C>
Net earnings for the period                                           $ 518        $ 543             $ 225          $ 446
Other comprehensive income (loss), net of tax expense (benefits):
  Unrealized holding gains (losses) on securities during the
   period, net of tax expense (benefits) of $10 and $(110) for
   the six months ended June 30, 2009 and 2008, respectively,
   and $39 and $(163) for the three months ended June 30,
   2009 and 2008, respectively                                           19         (214)               76           (317)
                                                                        ----          ---              ----            ---

Comprehensive income                                                  $ 537        $ 329             $ 301          $ 129
                                                                        ===          ===               ===            ===

Accumulated comprehensive loss                                        $(122)       $(168)            $(122)         $(168)
                                                                        ===          ===               ===            ===

See accompanying notes to consolidated financial statements
</TABLE>
                                       5

<PAGE>


                             Cheviot Financial Corp.

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                 For the six months ended June 30, 2009 and 2008
                                 (In thousands)
<TABLE>
<CAPTION>

                                                                                               2009                2008
                                                                                                      (Unaudited)
<S>                                                                                       <C>                 <C>
Cash flows from operating activities:
  Net earnings for the period                                                             $     518           $     543
  Adjustments to reconcile net earnings to net cash
  provided by operating activities:
    Amortization of premiums and discounts on investment
      and mortgage-backed securities, net                                                         4                  (7)
    Depreciation                                                                                152                 140
    Amortization of deferred loan origination fees - net                                        (12)                  -
    Proceeds from sale of loans in the secondary market                                      16,073               1,726
    Loans originated for sale in the secondary market                                       (15,801)             (1,700)
    Gain on sale of loans                                                                      (272)                 (9)
    Loss on sale of real estate acquired through foreclosure                                     49                  43
    Federal Home Loan Bank stock dividends                                                        -                 (87)
    Net increase in cash surrender value of bank-owned life insurance                           (68)                (65)
    Provision for losses on loans                                                               452                 288
    Amortization of expense related to stock benefit plans                                      373                 387
    Increase (decrease) in cash due to changes in:
      Accrued interest receivable on loans                                                       21                 (16)
      Accrued interest receivable on mortgage-backed securities                                 (10)                 12
      Accrued interest receivable on investments and interest-
        earning deposits                                                                        199                 (96)
      Prepaid expenses and other assets                                                        (575)               (349)
      Accrued interest payable                                                                   (7)                 21
      Accounts payable and other liabilities                                                  1,604                 (58)
      Federal income taxes
        Current                                                                                (110)                (23)
        Deferred                                                                                 35                  93
                                                                                           --------            --------
         Net cash provided by operating activities                                            2,625                 843

Cash flows used in investing activities:
  Principal repayments on loans                                                              41,481              27,699
  Loan disbursements                                                                        (26,588)            (39,830)
  Purchase of investment securities - available for sale                                    (40,039)            (18,973)
  Proceeds from maturity of investment securities - available for sale                       20,565               2,000
  Proceeds from maturity of investment securities - held to maturity                          7,000              16,000
  Purchase of mortgage-backed securities - available for sale                                (5,267)                  -
  Principal repayments on mortgage-backed securities - available for sale                       476                 125
  Principal repayments on mortgage-backed securities - held to maturity                         548               1,776
  Proceeds from sale of real estate acquired through foreclosure                                219                 636
  Additions to real estate acquired through foreclosure                                         (59)                 (9)
  Purchase of office premises and equipment                                                    (202)                (19)
                                                                                            -------            --------
         Net cash used in investing activities                                               (1,866)            (10,595)

Cash flows provided by financing activities:
  Net increase (decrease) in deposits                                                        13,734              (4,820)
  Proceeds from Federal Home Loan Bank advances                                                   -              19,500
  Repayments on Federal Home Loan Bank advances                                              (4,268)             (5,996)
  Advances by borrowers for taxes and insurance                                                (923)               (709)
  Treasury stock repurchases                                                                    (28)               (571)
  Stock option expense, net                                                                     124                 122
  Dividends paid on common stock                                                               (680)               (618)
                                                                                           --------            --------
         Net cash provided by financing activities                                            7,959               6,908
                                                                                            -------             -------
Net decrease in cash and cash equivalents                                                     8,718              (2,844)
Cash and cash equivalents at beginning of period                                             10,013               9,450
                                                                                            -------             -------
Cash and cash equivalents at end of period                                                $  18,731           $   6,606
                                                                                            =======             =======
See accompanying notes to consolidated financial statements.
</TABLE>
                                       6

<PAGE>


                             Cheviot Financial Corp.

                CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

                 For the six months ended June 30, 2009 and 2008
                                 (In thousands)

<TABLE>
<CAPTION>
                                                                                               2009                2008
                                                                                                      (Unaudited)

<S>                                                                                          <C>                 <C>
Supplemental disclosure of cash flow information:
  Cash paid during the period for:
    Federal income taxes                                                                     $  287              $  138
                                                                                             ======              ======
    Interest on deposits and borrowings                                                      $3,571              $4,474
                                                                                             ======              ======
Supplemental disclosure of noncash investing activities:
  Transfer of loans to real estate acquired through foreclosure                              $1,140              $  443
                                                                                             ======              ======
  Loans originated upon sales of real estate acquired through foreclosure                    $    -              $  138
                                                                                             ======              ======
  Recognition of mortgage servicing rights in accordance with SFAS No. 140                   $  126              $    6
                                                                                             ======              ======

See accompanying notes to consolidated financial statements.
</TABLE>
                                       7


<PAGE>

                             Cheviot Financial Corp.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

            For the three and six months ended June 30, 2009 and 2008


    1.   Basis of Presentation
         ---------------------

     Cheviot  Financial Corp.  ("Cheviot  Financial" or the  "Corporation") is a
     financial  holding  company,  the principal  asset of which consists of its
     ownership of Cheviot  Savings Bank (the "Savings  Bank").  The Savings Bank
     conducts a general banking business in southwestern  Ohio which consists of
     attracting  deposits  and  applying  those  funds  to  the  origination  of
     primarily real estate loans. The Corporation is 62% owned by Cheviot Mutual
     Holding Company.  Earnings per share is reported  including all shares held
     by Cheviot Mutual  Holding  Company.  Cheviot  Mutual  Holding  Company has
     waived the  receipt  of  dividends  declared  by the  Corporation.  Cheviot
     Savings'  profitability is significantly  dependent on net interest income,
     which is the  difference  between  interest  income  from  interest-earning
     assets and the interest expense paid on interest-bearing  liabilities.  Net
     interest  income is affected  by the  relative  amount of  interest-earning
     assets and  interest-bearing  liabilities and the interest received or paid
     on these balances.

     The accompanying unaudited financial statements were prepared in accordance
     with instructions for Form 10-Q and, therefore,  do not include information
     or footnotes  necessary for a complete  presentation of financial position,
     results  of  operations  and  cash  flows  in  conformity  with  accounting
     principles generally accepted in the United States of America. Accordingly,
     these consolidated  financial statements should be read in conjunction with
     the  consolidated   financial  statements  and  notes  thereto  of  Cheviot
     Financial  included  in the  Annual  Report on Form 10-K for the year ended
     December 31, 2008. However,  in the opinion of management,  all adjustments
     (consisting of only normal  recurring  accruals)  which are necessary for a
     fair  presentation  of the  consolidated  financial  statements  have  been
     included.  The results of  operations  for the three and six month  periods
     ended June 30, 2009,  are not  necessarily  indicative of the results which
     may be expected for the entire year.

    2.   Principles of Consolidation
         ---------------------------

     The accompanying  consolidated financial statements as of and for the three
     and six months ended June 30, 2009 include the accounts of the  Corporation
     and  its  wholly-owned  subsidiary,   the  Savings  Bank.  All  significant
     intercompany items have been eliminated.

    3.   Liquidity and Capital Resources
         -------------------------------

     Liquidity  describes  our ability to meet the  financial  obligations  that
     arise in the ordinary course of business.  Liquidity is primarily needed to
     meet the borrowing and deposit withdrawal requirements of our customers and
     to fund current and planned expenditures.  Our primary sources of funds are
     deposits,  scheduled  amortization  and  prepayments  of loan principal and
     mortgage-backed  securities,  maturities  and calls of securities and funds
     provided by our  operations.  In  addition,  we may borrow from the Federal
     Home Loan Bank of  Cincinnati.  At June 30, 2009 and December 31, 2008,  we
     had  $40.3  million  and  $44.6  million,   respectively,   in  outstanding
     borrowings  from the  Federal  Home  Loan  Bank of  Cincinnati  and had the
     capacity to increase such borrowings at those dates by approximately $101.3
     million and $99.3 million, respectively.

     Loan repayments and maturing securities are a relatively predictable source
     of fun ds. However,  deposit flows,  calls of securities and prepayments of
     loans and  mortgage-backed  securities are strongly  influenced by interest
     rates,  general  and  local  economic  conditions  and  competition  in the
     marketplace.  These factors reduce the  predictability  of these sources of
     funds.

                                       8
<PAGE>


                             Cheviot Financial Corp.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

            For the three and six months ended June 30, 2009 and 2008


    3.   Liquidity and Capital Resources (continued)
         -------------------------------

     Our primary investing activities are the origination of one- to four-family
     real estate loans, commercial real estate, construction and consumer loans,
     and, to a lesser  extent,  the purchase of  securities.  For the six months
     ended June 30, 2009, loan originations  totaled $42.4 million,  compared to
     $41.5 million for the six months ended June 30, 2008.

     Total deposits increased $13.7 million during the six months ended June 30,
     2009 and decreased  $4.8 million during the six months ended June 30, 2008,
     respectively.  Deposit  flows are affected by the level of interest  rates,
     the interest rates and products offered by competitors and other factors.

     The following  table sets forth  information  regarding  the  Corporation's
     obligations  and  commitments to make future  payments under contract as of
     June 30, 2009.
<TABLE>
<CAPTION>

                                                                          Payments due by period
                                                               Less      More than     More than       More
                                                               than         1-3          4-5           than
                                                              1 year       years        years         5 years        Total
                                                                                   (In thousands)

<S>                                                        <C>           <C>           <C>           <C>         <C>
    Contractual obligations:
      Advances from the Federal Home Loan Bank             $  12,000     $   1,165     $  1,271      $ 25,900    $  40,336
      Certificates of deposit                                109,727        21,942       12,810           -        144,479

    Amount of loan commitments and expiration per period:
      Commitments to originate one- to four-family
        loans                                                  3,059            -            -            -          3,059
      Home equity lines of credit                             11,775            -            -            -         11,775
      Undisbursed loans in process                             1,838            -            -            -          1,838
                                                             -------        ------       ------        ------      -------
         Total contractual obligations                     $ 138,399     $  23,107     $ 14,081      $ 25,900   $  201,487
                                                             =======        ======       ======        ======      =======

</TABLE>


     We are committed to maintaining a strong liquidity position. We monitor our
     liquidity  position  on a daily  basis.  We  anticipate  that we will  have
     sufficient  funds to meet our  current  funding  commitments.  Based on our
     deposit retention  experience and current pricing  strategy,  we anticipate
     that a significant portion of maturing time deposits will be retained.

                                       9
<PAGE>


                             Cheviot Financial Corp.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

            For the three and six months ended June 30, 2009 and 2008


    3.   Liquidity and Capital Resources (continued)
         -------------------------------

     At June 30, 2009 and 2008,  we exceeded  all of the  applicable  regulatory
     capital requirements. Our core (Tier 1) capital was $57.0 million and $54.5
     million,  or 17.0%  and 16.7% of total  assets  at June 30,  2009 and 2008,
     respectively. In order to be classified as "well-capitalized" under federal
     banking  regulations,  we were  required  to have core  capital of at least
     $20.1 million, or 6.0% of assets as of June 30, 2009. To be classified as a
     well-capitalized  bank,  we must  also  have a ratio  of  total  risk-based
     capital to  risk-weighted  assets of at least  10.0%.  At June 30, 2009 and
     2008,  we  had a  total  risk-based  capital  ratio  of  34.2%  and  32.1%,
     respectively.

    4.   Earnings Per Share
         ------------------

     Basic earnings per share is computed based upon the weighted-average common
     shares  outstanding  during the  period,  less  shares in the ESOP that are
     unallocated  and not  committed to be released plus shares in the ESOP that
     have  been  allocated.  The  weighted  average  common  shares  outstanding
     includes  5,455,313  shares  held by our  mutual  holding  company  parent.
     Weighted-average  common shares deemed  outstanding gives effect to 178,540
     and  214,247  unallocated  shares  held by the ESOP for the  three  and six
     months ended June 30, 2009 and 2008, respectively.
<TABLE>
<CAPTION>

                                                          For the six months ended             For the three months ended
                                                                  June 30,                               June 30,
                                                            2009            2008                    2009           2008

<S>                                                    <C>             <C>                     <C>            <C>
         Weighted-average common shares
           outstanding (basic)                         8,692,768       8,702,161               8,691,585      8,677,852

         Dilutive effect of assumed exercise
           of stock options                               36,436          55,256                  33,062         57,298
                                                       ---------       ---------               ---------       --------

         Weighted-average common shares
           outstanding (diluted)                       8,729,204       8,757,417               8,724,647      8,735,150
                                                       =========       =========               =========      =========
</TABLE>

    5.   Stock Option Plan
         -----------------

     On April 26, 2005,  the  Corporation  approved a Stock  Incentive Plan that
     provides for grants of up to 486,018 stock options.  During 2009, 2008, and
     2007  approximately  8,060,  8,060, and 6,460 option awards for shares were
     granted, all of which are subject to five year vesting.

     In 2004, the Financial Accounting Standards Board ("FASB") issued Statement
     of  Financial   Accounting  Standard  ("SFAS")  No.  123(R),   "Share-Based
     Payment,"   which  revises  SFAS  No.  123,   "Accounting  for  Stock-Based
     Compensation," and supersedes  Accounting  Principles Board ("APB") Opinion
     No.  25,  "Accounting  for Stock  Issued  to  Employees."  SFAS No.  123(R)
     requires that cost related to the fair value of all equity-based  awards to
     employees, including grants of employee stock options, be recognized in the
     financial statements.

                                       10
<PAGE>


                             Cheviot Financial Corp.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

            For the three and six months ended June 30, 2009 and 2008


    5.   Stock Option Plan (continued)
         -----------------

     The Corporation adopted the provisions of SFAS No. 123(R) effective January
     1, 2006, using the modified  prospective  transition  method, and therefore
     has not restated its financial  statements  for prior  periods.  Under this
     method,  the  Corporation  has applied the provisions of SFAS No. 123(R) to
     new equity-based awards and to equity-based  awards modified,  repurchased,
     or cancelled after January 1, 2006. In addition, the Corporation recognizes
     compensation  cost for the  portion  of  equity-based  awards for which the
     requisite  service  period has not been  rendered  ("unvested  equity-based
     awards") that is outstanding as of January 1, 2006. The  compensation  cost
     recorded for unvested equity-based awards is based on their grant-date fair
     values.  For the six months ended June 30, 2009, the  Corporation  recorded
     $123,000 in after-tax compensation cost for equity-based awards that vested
     during the six months ended June 30,  2009.  The  Corporation  has $269,000
     unrecognized pre-tax  compensation cost related to non-vested  equity-based
     awards granted under its stock incentive plan as of June 30, 2009, which is
     expected  to be  recognized  over  a  weighted-average  vesting  period  of
     approximately 1.1 years.

     A summary of the status of the  Corporation's  stock option plan as of June
     30, 2009, and changes during the period then ended is presented below:
<TABLE>
<CAPTION>

                                                                    Six months ended                    Year ended
                                                                      June 30, 2009                  December 31, 2008
                                                                                Weighted-                       Weighted-
                                                                                 average                         average
                                                                                 exercise                        exercise
                                                                  Shares          price           Shares          price

<S>                                                               <C>           <C>                <C>          <C>
    Outstanding at beginning of period                            404,280       $11.16             396,220      $11.21
    Granted                                                         8,060         8.48             8,060          9.03
    Exercised                                                          -             -                  -             -
    Forfeited                                                          -             -                  -             -
                                                                  -------       ------             -------      -------
    Outstanding at end of period                                  412,340       $11.11             404,280      $11.16
                                                                  =======        =====             =======       =====
    Options exercisable at period-end                             314,792       $11.17             233,936      $11.17
                                                                  =======        =====             =======       =====
    Options expected to be exercisable at year-end
    Fair value of options granted                                               $ 3.31                           $1.93
                                                                                  ====                            ====

    The following information applies to options outstanding at June 30, 2009:

    Number outstanding                                                                                            412,340
    Exercise price                                                                                         $8.48 - $13.63
    Weighted-average exercise price                                                                                $11.11
    Weighted-average remaining contractual life                                                                 6.1 years
</TABLE>

     The expected  term of options is based on  evaluations  of  historical  and
     expected future employee exercise behavior.  The risk free interest rate is
     based upon the U.S. Treasury rates at the date of grant with maturity dates
     approximately equal to the expected life at grant date. Volatility is based
     upon the historical volatility of the Corporation's stock.


                                       11
<PAGE>


                             Cheviot Financial Corp.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

            For the three and six months ended June 30, 2009 and 2008


    5.   Stock Option Plan (continued)
         -----------------

     The fair value of each option was  estimated on the date of grant using the
     modified   Black-Scholes   options   pricing   model  with  the   following
     weighted-average  assumptions  used for grants in 2009:  dividend  yield of
     4.48%, expected volatility of 56.38%,  risk-free interest rate of 3.25% and
     an expected life of 10 years for each grant.

     The effects of expensing  stock  options are reported in "cash  provided by
     financing activities" in the Consolidated Statements of Cash Flows.

    6.   Income Taxes
         ------------

     The  Corporation   adopted  the  provisions  of  FASB   Interpretation  48,
     "Accounting   for  Uncertainty  in  Income  Taxes,"  on  January  1,  2007.
     Previously,   the  Corporation  had  accounted  for  tax  contingencies  in
     accordance  with  Statement  of  Financial   Accounting  Standards  No.  5,
     "Accounting for  Contingencies."  As required by  Interpretation  48, which
     clarifies Statement No. 109, "Accounting for Income Taxes," the Corporation
     recognizes  the  financial  statement  benefit of a tax position only after
     determining  that the  relevant  tax  authority  would more likely than not
     sustain the position  following  an audit.  For tax  positions  meeting the
     more-likely-than-not  threshold,  the amount  recognized  in the  financial
     statements  is the  largest  benefit  that has a  greater  than 50  percent
     likelihood of being realized upon ultimate settlement with the relevant tax
     authority.  At the adoption date, the Corporation applied Interpretation 48
     to all tax positions for which the statute of limitations remained open. As
     a result of the  implementation of  Interpretation  48, the Corporation was
     not required to record any  liability for  unrecognized  tax benefits as of
     January 1, 2007.  There have been no material  changes in unrecognized  tax
     benefits  since January 1, 2007. As stated in the Annual  Report,  the only
     known tax attribute  which can influence  the  Corporation's  effective tax
     rate is the utilization of charitable contribution carryforwards.

     The   Corporation   is  subject  to  income  taxes  in  the  U.S.   federal
     jurisdiction,  as well as  various  state  jurisdictions.  Tax  regulations
     within each  jurisdiction are subject to the  interpretation of the related
     tax laws and regulations and require  significant  judgment to apply.  With
     few exceptions, the Corporation is no longer subject to U.S. federal, state
     and local, or non U.S.  income tax  examinations by tax authorities for the
     years before 2004.

     The Corporation will recognize, if applicable,  interest accrued related to
     unrecognized  tax benefits in interest  expense and  penalties in operating
     expenses.

    7.   Disclosures About Fair Value of Assets and Liabilities
         ------------------------------------------------------

     Effective  January 1, 2008, the Corporation  adopted Statement of Financial
     Accounting  Standards No. 157, Fair Value  Measurements  (FAS 157). FAS 157
     defines fair value,  establishes a framework  for measuring  fair value and
     expands disclosures about fair value measurements. FAS 157 has been applied
     prospectively as of the beginning of the year.

     FAS 157  defines  fair value as the price that would be received to sell an
     asset or paid to transfer a  liability  in an orderly  transaction  between
     market  participants  at the measurement  date. FAS 157 also  establishes a
     fair  value  hierarchy  which  requires  an entity to  maximize  the use of
     observable  inputs  and  minimize  the  use  of  unobservable  inputs  when
     measuring fair value.  The standard  describes  three levels of inputs that
     may be used to measure fair value:

                                       12
<PAGE>



                             Cheviot Financial Corp.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                For the three months ended June 30, 2009 and 2008


    7.   Disclosures About Fair Value of Assets and Liabilities (continued)
         ------------------------------------------------------
         Level 1     Quoted prices in active markets for identical assets or
                     liabilities

         Level 2     Observable  inputs  other  than  Level  1  prices,  such as
                     quoted  prices for similar assets or  iabilities;  quoted
                     prices in markets that are not active; or other inputs that
                     are observable or can be corroborated by observable  market
                     data for substantially  the full term of the assets or
                     liabilities

         Level 3     Unobservable  inputs that are supported by little or no
                     market activity and that are significant to the fair value
                     of the assets or liabilities.

     Fair value  methods  and  assumptions  are set forth below for each type of
     financial instrument.

     Securities available for sale: Fair values on available for sale securities
     were  based  upon a market  approach.  Securities  which are  fixed  income
     instruments  that are not quoted on an  exchange,  but are traded in active
     markets,  are valued using prices  obtained from our custodian,  which used
     third party data service  providers.

     Available for sale  securities  include U.S. agency  securities,  municipal
     bonds and mortgage-backed agency securities.
<TABLE>
<CAPTION>

                                                                             Fair Value Measurements at
                                                                                    June 30, 2009
                                                              Quoted prices
                                                                 in active       Significant    Significant
                                                                markets for         other          other
                                                                 identical       observable    unobservable
                                                                  assets           inputs         inputs
                                           June 30, 2009         (Level 1)        (Level 2)      (Level 3)
                                           -------------         ---------        ---------      ---------

<S>                                           <C>                                  <C>
         Securities available for sale        $48,846                              $48,846

</TABLE>

     The  Corporation is  predominately  an asset-based  lender with real estate
     serving as collateral on a substantial  majority of loans.  Loans which are
     deemed to be impaired and other real estate owned are primarily valued on a
     nonrecurring  basis  at the  fair  values  of the  underlying  real  estate
     collateral.  Such fair values are obtained  using  independent  appraisals,
     which  the  Corporation  considers  to be  Level 2  inputs.  The  aggregate
     carrying  amount  of  impaired  loans  at June 30,  2009 was  approximately
     $759,000,  with total loss  recognized  of $71,000.  At June 30, 2009,  the
     carrying value of other real estate owned was $2.0 million.

                                       13
<PAGE>


                             Cheviot Financial Corp.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                For the three months ended June 30, 2009 and 2008


    8.   Effects of Recent Accounting Pronouncements
         -------------------------------------------

     In September 2006, the Financial Accounting Standards Board ("FASB") issued
     SFAS No. 157, "Fair Value  Measurements".  SFAS No. 157 defines fair value,
     establishes  a framework  for  measuring  fair value in generally  accepted
     accounting  principles and expands  disclosures about fair value estimates.
     In February 2008, the FASB issued FASB Staff Position ("FSP") No. FAS 157-2
     which delayed the effective  date of SFAS No. 157 for  nonfinancial  assets
     and  nonfinancial  liabilities,  except  for items that are  recognized  or
     disclosed at fair value in the financial  statements on a recurring  basis,
     to fiscal years beginning after November 15, 2008. The Corporation  elected
     to defer the  adoption  of SFAS No.  157 for its  nonfinancial  assets  and
     nonfinancial  liabilities until January 1, 2009.  Adoption of this standard
     on January 1, 2009 had no impact on the Corporation's results of operations
     and financial position.

     In December 2007, the Financial  Accounting Standards Board ("FASB") issued
     Statement of Financial Accounting Standards ("SFAS") No. 141(R),  "Business
     Combinations"  ("SFAS No. 141(R)"),  which requires all assets acquired and
     liabilities assumed in a business combination (with a few exceptions,  such
     as  deferred  tax assets and  liabilities)  to be measured at fair value in
     accordance with SFAS No.157,  "Fair Value  Measurements"  ("SFAS No. 157").
     SFAS No. 141(R) is effective prospectively for fiscal years beginning on or
     after December 15, 2008. The Corporation adopted SFAS No. 141(R) during the
     first  quarter  of  2009,  and  the  adoption  was  not  applicable  to its
     consolidated financial statements for the periods reported.

     In March 2008, the FASB issued SFAS No. 161,  "Disclosures about Derivative
     Instruments and Hedging  Activities" ("SFAS No. 161"), which is intended to
     improve  financial  reporting  about  derivative  instruments  and  hedging
     activities by requiring enhanced  disclosures to enable investors to better
     understand  their  effects on an  entity's  financial  position,  financial
     performance,  and cash  flows.  SFAS No.  161 is  effective  for  financial
     statements  issued for fiscal  years and interim  periods  beginning  after
     November 15, 2008.  The  Corporation  adopted SFAS No. 161 during the first
     quarter of 2009,  and the  adoption  did not have a material  effect on its
     consolidated financial statements.

     In April 2009,  the FASB issued FASB Staff  Position  ("FSP") FAS 107-1 and
     Accounting  Principles Board ("APB") 28-1, "Interim  Disclosures about Fair
     Value of Financial Instruments", to require disclosures about fair value of
     financial  instruments  for interim  reporting  periods of publicly  traded
     companies as well as in annual financial  statements.  This FSP also amends
     APB  Opinion  No. 28,  "Interim  Financial  Reporting",  to  require  those
     disclosures  in  summarized  financial  information  at  interim  reporting
     periods.  This FSP shall be effective for interim  reporting periods ending
     after June 15,  2009.  The  Corporation  adopted FSP FAS 107-1 and APB 28-1
     during the second quarter of 2009.

     In April 2009,  the FASB  issued FSP FAS 115-2 and FAS 124-2,  "Recognition
     and  Presentation  of  Other-Than-Temporary   Impairments",  to  amend  the
     other-than-temporary  impairment  guidance in U.S. GAAP for debt securities
     to make the guidance more  operational and to improve the  presentation and
     disclosure  of   other-than-temporary   impairments   on  debt  and  equity
     securities in the financial  statements.  This FSP does not amend  existing
     recognition  and  measurement  guidance  related  to   other-than-temporary
     impairments  of equity  securities.  The FSP shall be effective for interim
     and annual  reporting  periods ending after June 15, 2009. The  Corporation
     adopted FSP FAS 115-2 and FAS 124-2 during the second quarter of 2009.

                                       14
<PAGE>


                             Cheviot Financial Corp.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                For the three months ended June 30, 2009 and 2008


     8.  Effects of Recent Accounting Pronouncements (continued)
         -------------------------------------------

     Also in April 2009, the FASB issued FSP FAS 157-4,  "Determining Fair Value
     When the  Volume  and Level of  Activity  for the Asset or  Liability  Have
     Significantly Decreased and Identifying Transactions That Are Not Orderly",
     to provide additional guidance for estimating fair value in accordance with
     SFAS No.  157,  "Fair  Value  Measurements",  when the  volume and level of
     activity for the asset or liability have significantly decreased.  This FSP
     also  includes  guidance  on  identifying  circumstances  that  indicate  a
     transaction  is not orderly.  It shall be effective  for interim and annual
     reporting  periods  ending  after  June 15,  2009,  and  shall  be  applied
     prospectively.  The  Corporation  adopted  FSP FAS 157-4  during the second
     quarter of 2009,  and the  adoption  did not have a material  effect on its
     consolidated financial statements.

     The Securities and Exchange  Commission  issued Staff  Accounting  Bulletin
     ("SAB") No. 111, "Other Than Temporary Impairment of Certain Investments in
     Equity Securities" ("SAB No. 111"), in April 2009 in response to the FASB's
     April 2009 release of Final FSP FAS 115-2 and FAS 124-2. SAB No. 111 amends
     and replaces  "Other Than  Temporary  Impairment of Certain  Investments in
     Debt and Equity  Securities",  ("Topic 5.M"), in the SEC's Staff Accounting
     Bulletin  series.  With the amendments in SAB No. 111, debt  securities are
     excluded  from the scope of Topic 5.M, but the SEC staff's  views on equity
     securities are still included  within the topic.  According to the revision
     to Topic  5.M,  the SEC  does  not  interpret  the  FASB's  use of the term
     other-than-temporary to mean permanent. The Corporation has considered this
     interpretative  guidance  for  the  disclosures  in its  interim  financial
     statements.

     In May 2009, the FASB issued SFAS No. 165,  "Subsequent  Events" ("SFAS No.
     165"),  which sets forth the  circumstances  under  which an entity  should
     recognize events occurring after the balance sheet date and the disclosures
     that should be made. Also, this statement  requires  disclosure of the date
     through  which the entity  has  evaluated  subsequent  events  (for  public
     companies,  and other  companies  that  expect to widely  distribute  their
     financial  statements,  this  date  is  the  date  of  financial  statement
     issuance,  and for nonpublic  companies,  the date the financial statements
     are available to be issued).  The effective  date is for interim and annual
     periods  ending after June 15, 2009. The  Corporation  adopted SFAS No. 165
     during the second quarter of 2009, and the adoption did not have a material
     effect on its consolidated financial statements.

     In June 2009,  the FASB issued SFAS No. 166,  "Accounting  for Transfers of
     Financial  Assets"  ("SFAS No. 166"),  which is a revision to SFAS No. 140,
     eliminates  the concept of a  qualifying  special  purpose  entity  (QSPE),
     changes the requirements for derecognizing  financial assets,  and requires
     additional disclosures,  including information about continuing exposure to
     risks related to transferred  financial  assets.  SFAS No. 166 is effective
     for financial asset transfers occurring after the beginning of fiscal years
     beginning  after  November 15, 2009. The  disclosure  requirements  must be
     applied to transfers that occurred before and after the effective date. The
     Corporation is currently  evaluating the impact on its financial statements
     of adopting SFAS No. 166.

     In  June  2009,  the  FASB  issued  SFAS  No.  167,   "Amendments  to  FASB
     Interpretation  No.  46(R)"  ("SFAS No.  167"),  which  revises  FIN 46(R),
     contains new criteria for determining the primary  beneficiary,  eliminates
     the exception to consolidating QSPE's,  requires continual  reconsideration
     of conclusions reached in determining the primary beneficiary, and requires
     additional  disclosures.  SFAS No. 167 is effective as of the  beginning of
     fiscal  years  beginning  after  November  15, 2009 and is applied  using a
     cumulative  effect  adjustment to retained earnings for any carrying amount
     adjustments (e.g., for newly- consolidated  VIE's). The Corporation has not
     evaluated  the effect of the  adoption of SFAS No. 167 on its  consolidated
     financial statements.

                                       15
<PAGE>


                            . Cheviot Financial Corp.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                For the three months ended June 30, 2009 and 2008


     8.  Effects of Recent Accounting Pronouncements (continued)
         -------------------------------------------

     Also in June 2009,  the FASB  issued  SFAS No.  168,  "The FASB  Accounting
     Standards  Codification and the Hierarchy of Generally Accepted  Accounting
     Principles"  ("SFAS No. 168"). The  Codification  will become the source of
     authoritative   U.S.  GAAP   recognized  by  the  FASB  to  be  applied  by
     nongovernmental  entities and will  supersede  all non-SEC  accounting  and
     reporting  standards.  This statement is effective for financial statements
     issued for interim and annual financial  statements  ending after September
     15, 2009. The  Corporation  is currently  evaluating the impact of adopting
     SFAS No. 168.

     9.  Fair Value of Financial Instruments
         -----------------------------------

     Fair  value  information  about  financial  instruments,   whether  or  not
     recognized in the balance sheet,  for which it is practical to estimate the
     value,  is based upon the  characteristics  of the instruments and relevant
     market  information.   Financial  instruments  include  cash,  evidence  of
     ownership in an entity or contracts  that convey or impose on an entity the
     contractual  right or  obligation  to either  receive or  deliver  cash for
     another  financial  instrument.  These  fair value  estimates  are based on
     relevant   market   information   and   information   about  the  financial
     instruments.  Fair value  estimates are intended to represent the price for
     which an asset could be sold or liability could be settled.  However, given
     there is no active market or observable market transactions for many of the
     Corporation's financial instruments, it has made estimates of many of these
     fair values  which are  subjective  in nature,  involve  uncertainties  and
     matters of  significant  judgment and therefore  cannot be determined  with
     precision.  Changes in assumptions could significantly affect the estimated
     values. The fair value estimates are determined in accordance with SFAS No.
     157.

     The  following  methods and  assumptions  were used by the  Corporation  in
     estimating its fair value disclosures for financial instruments at June 30,
     2009:

               Cash and cash equivalents:  The carrying amounts presented in the
               consolidated  statements of financial condition for cash and cash
               equivalents are deemed to approximate fair value.

               Investment  and  mortgage-backed  securities:  For investment and
               mortgage-backed  securities,  fair  value is  deemed to equal the
               quoted market price.

               Loans   receivable:   The  loan  portfolio  was  segregated  into
               categories   with   similar   characteristics,   such  as  one-to
               four-family residential,  multi-family residential and commercial
               real estate.  These loan categories were further  delineated into
               fixed-rate  and  adjustable-rate  loans.  The fair values for the
               resultant loan  categories were computed via discounted cash flow
               analysis,  using  current  interest  rates offered for loans with
               similar terms to borrowers of similar credit  quality.  For loans
               on  deposit  accounts,  fair  values  were  deemed  to equal  the
               historic  carrying  values.  The  historical  carrying  amount of
               accrued interest on loans is deemed to approximate fair value.

               Federal Home Loan Bank stock:  The carrying  amount  presented in
               the consolidated  statements of financial  condition is deemed to
               approximate fair value.

                                       16
<PAGE>



                             Cheviot Financial Corp.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                For the three months ended June 30, 2009 and 2008


     9.  Fair Value of Financial Instruments (continued)
         -----------------------------------

               Deposits: The fair value of NOW accounts,  passbook accounts, and
               money market demand  deposits is deemed to approximate the amount
               payable on demand at June 30,  2009.  Fair values for  fixed-rate
               certificates  of deposit have been  estimated  using a discounted
               cash flow calculation  using the interest rates currently offered
               for deposits of similar remaining maturities.

               Advances from the Federal Home Loan Bank: The fair value of these
               advances  is  estimated  using the rates  currently  offered  for
               similar  advances  of  similar  remaining   maturities  or,  when
               available,  quoted market prices. Advances by Borrowers for Taxes
               and Insurance:  The carrying  amount of advances by borrowers for
               taxes and insurance is deemed to approximate fair value.

               Commitments to extend credit:  For fixed-rate  loan  commitments,
               the fair value estimate  considers the difference between current
               levels of interest rates and committed  rates.  At June 30, 2009,
               the  fair  value  of the  derivative  loan  commitments  was  not
               material.
<TABLE>
<CAPTION>

                                                                                 June 30, 2009
                                                                          Carrying            Fair
                                                                            Value            Value
                                                                                 (In thousands)
<S>                                                                      <C>              <C>
    Financial assets
      Cash and cash equivalents                                          $  18,731        $  18,731
      Investment securities                                                 43,350           43,350
      Mortgage-backed securities                                            11,864           11,971
      Loans receivable - net                                               252,010          261,357
      Federal Home Loan Bank stock                                           3,369            3,369
                                                                         ---------        ---------

                                                                          $329,324         $338,778

    Financial liabilities
      Deposits                                                            $229,782         $229,715
      Advances from the Federal Home
        Loan Bank                                                           40,336           42,969
      Advances by borrowers for taxes
        and insurance                                                          541              541
                                                                         ---------        ---------

                                                                          $270,659         $273,225
</TABLE>

                                       17

<PAGE>


                             Cheviot Financial Corp.

ITEM 2.                 MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Forward Looking Statements
--------------------------

This  report  on Form 10-Q  contains  forward-looking  statements,  which can be
identified  by the use of such  words as  estimate,  project,  believe,  intend,
anticipate,  plan, seek, expect and similar expressions.  These  forward-looking
statements are subject to significant risks,  assumptions and uncertainties that
could   affect  the  actual   outcome  of  future   events.   Because  of  these
uncertainties,  our actual future  results may be materially  different from the
results indicated by these forward-looking statements.

Critical Accounting Policies
----------------------------

We consider accounting policies involving  significant judgments and assumptions
by management  that have, or could have, a material impact on the carrying value
of certain assets or on income to be critical accounting  policies.  We consider
the  accounting  method used for the  allowance for loan losses to be a critical
accounting policy.

The allowance for loan losses is the estimated  amount  considered  necessary to
cover  inherent,  but  unconfirmed  credit  losses in the loan  portfolio at the
balance  sheet date.  The  allowance is  established  through the  provision for
losses on loans which is charged  against  income.  In determining the allowance
for loan losses,  management makes significant estimates and has identified this
policy as one of the most critical for Cheviot Financial.

Management  performs a quarterly  evaluation  of the  allowance for loan losses.
Consideration  is given to a variety of factors in  establishing  this  estimate
including,  but  not  limited  to,  current  economic  conditions,   delinquency
statistics,  geographic  and  industry  concentrations,   the  adequacy  of  the
underlining  collateral,  the  financial  strength of the  borrower,  results of
internal loan reviews and other relevant factors.  This evaluation is inherently
subjective  as it  requires  material  estimates  that  may  be  susceptible  to
significant change.

The analysis has two  components,  specific  and general  allocations.  Specific
percentage  allocations can be made for unconfirmed losses related to loans that
are determined to be impaired. Impairment is measured by determining the present
value of expected future cash flows or, for collateral-dependent loans, the fair
value of the collateral adjusted for market conditions and selling expenses.  If
the fair value of the loan is less than the loan's  carrying value, a charge-off
is  recorded  for the  difference.  The  general  allocation  is  determined  by
segregating  the remaining loans by type of loan, risk weighting (if applicable)
and payment history.  We also analyze  historical loss  experience,  delinquency
trends, general economic conditions and geographic and industry  concentrations.
This  analysis  establishes  factors  that are  applied  to the loan  groups  to
determine  the  amount  of  the  general  reserve.  Actual  loan  losses  may be
significantly more than the allowances we have established which could result in
a material negative effect on our financial results.

Discussion of Financial Condition Changes at December 31, 2008 and at June 30,
2009
--------------------------------------------------------------------------------

Total assets  increased  $10.5  million,  or 3.2%, to $342.5 million at June 30,
2009,  from $332.0  million at December 31,  2008.  The increase in total assets
reflects increases in cash and cash equivalents and mortgage-backed  securities,
which was  partially  offset by a decrease in loans  receivable  and  investment
securities.  The  change  in the  composition  of our  interest  earning  assets
reflects  management's decision to increase its liquidity during a period of low
interest rates during the economic downturn.

Cash, federal funds sold and  interest-earning  deposits increased $8.7 million,
or 87.1%,  to $18.7 million at June 30, 2009, from $10.0 million at December 31,
2008.  The increase in cash and cash  equivalents at June 30, 2008, was due to a
$8.1 million increase in  interest-earning  deposits and a $776,000  increase in
federal funds sold,  which was partially  offset by a $111,000  decrease in cash
and due from  banks.  Investment  securities  increased  $12.4  million to $43.3
million  at June 30,  2009.  At June  30,  2009,  $43.3  million  of  investment
securities  were  classified as available for sale. As of June 30, 2009, none of
the investment securities are considered impaired.

                                       18
<PAGE>


                             Cheviot Financial Corp.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)


Discussion of Financial Condition Changes at December 31, 2008 and at June 30,
2009 (continued)
--------------------------------------------------------------------------------

Mortgage-backed securities increased $4.3 million, or 56.9%, to $11.9 million at
June 30,  2009,  from $7.6  million  at  December  31,  2008.  The  increase  in
mortgage-backed  securities  was due  primarily  to  purchases of $5.3 million ,
which was partially offset by principal prepayments and repayments totaling $1.0
million.  At June 30, 2009,  $6.4  million of  mortgage-backed  securities  were
classified as held to maturity,  while $5.5 million were classified as available
for  sale.  As of June 30,  2009,  none of the  mortgage-backed  securities  are
considered impaired.

Loans  receivable,  including loans held for sale,  decreased $16.5 million,  or
6.1%, to $252.0  million at June 30, 2009,  from $268.5  million at December 31,
2008. The decrease reflects loan principal repayments of $41.5 million and sales
of $16.1 million, partially offset by loan originations totaling $42.4 million.

The allowance for loan losses totaled $996,000 and $709,000 at June 30, 2009 and
December 31, 2008,  respectively.  In determining  the adequacy of the allowance
for loan  losses at any  point in time,  management  and the board of  directors
apply a systematic process focusing on the risk of loss in the portfolio. First,
the loan portfolio is segregated by loan types to be evaluated  collectively and
loan types to be evaluated individually.  Delinquent multi-family and commercial
loans are evaluated  individually  for potential  impairments  in their carrying
value. Second, the allowance for loan losses entails utilizing our historic loss
experience by applying such loss percentage to the loan types to be collectively
evaluated in the portfolio. The $164,000 increase in the provision for losses on
loans  during  the six  months  ended  June 30,  2009 is a  reflection  of these
factors,  weaker  economic  conditions  in the  greater  Cincinnati  area,  loan
charge-offs  of  $134,000  and the need to  allocate  approximately  $32,000  in
specific  reserves for two residential  properties  totaling $131,000 which were
acquired  through  foreclosure  during the six months ended June 30,  2009.  The
analysis of the allowance for loan losses requires an element of judgment and is
subject to the possibility  that the allowance may need to be increased,  with a
corresponding reduction in earnings. To the best of management's knowledge,  all
known and inherent losses that are probable and that can be reasonably estimated
have been recorded at June 30, 2009.

Non-performing  and impaired loans totaled $759,000 and $1.8 million at June 30,
2009 and December 31, 2008, respectively.  At June 30, 2009,  non-performing and
impaired  loans were  comprised  of seven loans  secured by one- to  four-family
residential real estate. The decrease in impaired loans was mainly the result of
transferring  $1.2 million of impaired loans to other real estate owned. At June
30, 2009 and December 31, 2008 real estate acquired through  foreclosure totaled
$2.0  million and $1.1  million,  respectively.  The  allowance  for loan losses
represented  36.2% and 38.4% of  non-performing  and impaired  loans at June 30,
2009 and December 31, 2008, respectively.  Although management believes that the
Corporation's   allowance  for  loan  losses  conforms  to  generally   accepted
accounting  principles based upon the available facts and  circumstances,  there
can be no assurance  that  additions to the  allowance  will not be necessary in
future periods, which would adversely affect our results of operations.

Deposits  increased $13.7 million,  or 6.4%, to $229.8 million at June 30, 2009,
from $216.0  million at December 31, 2008.  Advances  from the Federal Home Loan
Bank of Cincinnati  decreased by $4.3 million, or 9.6%, to $40.3 million at June
30, 2009, from $44.6 million at December 31, 2008.

Shareholders'  equity increased $326,000,  or 0.5%, to $68.6 million at June 30,
2009, from $68.2 million at December 31, 2008. The increase  primarily  resulted
from net earnings of $518,000,  amortization of stock benefit plans of $373,000,
which was  partially  offset by dividends  paid of  $680,000.  At June 30, 2009,
Cheviot Financial had the ability to purchase an additional 364,616 shares under
its announced stock repurchase plan.

                                       19
<PAGE>


                             Cheviot Financial Corp.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)


Discussion of Financial Condition Changes at December 31, 2008 and at June 30,
2009 (continued)
--------------------------------------------------------------------------------

Liquidity and Capital Resources
-------------------------------

We monitor our liquidity  position on a daily basis using reports that recap all
deposit activity and loan commitments. A significant portion of our deposit base
is made up of time deposits.  At June 30, 2009,  $109.7 million of time deposits
are due to mature within twelve months. The daily deposit activity report allows
us to price our time  deposits  competitively.  Because of this and our  deposit
retention experience,  we anticipate that a significant portion of maturing time
deposits will be retained.

Borrowings from the Federal Home Loan Bank of Cincinnati  decreased $4.3 million
during the six months ended June 30, 2009.  We have the ability to increase such
borrowings by approximately $101.3 million.

Comparison of Operating Results for the Six-Month Periods Ended June 30, 2009
and 2008
--------------------------------------------------------------------------------

General
-------

Net earnings for the six months ended June 30, 2009 totaled $518,000,  a $25,000
decrease  from the $543,000  net earnings  reported for the same period in 2008.
The decrease in net earnings reflects an increase in general, administrative and
other expenses of $522,000,  an increase of $164,000 in the provision for losses
on loans and an  increase  of  $15,000  in  federal  income  taxes,  which  were
partially  offset by an  increase  of  $417,000  in net  interest  income and an
increase in other income of $259,000 for the 2009 period.

Net Interest Income
-------------------

Total  interest  income  decreased  $514,000,  or 5.7%,  to $8.4 million for the
six-months  ended June 30, 2009,  from the comparable  period in 2008.  Interest
income on loans  decreased  $40,000,  or 0.5%,  to $7.6 million  during the 2009
period.  This  decrease was due  primarily  to an 8 basis point  decrease in the
average  yield on loans to 5.88%  for the 2009  period  from  5.96% for the 2008
period,  which was partially offset by a $1.9 million,  or 0.8%, increase in the
average balance of loans outstanding for the six months ended June 30, 2009.

Interest income on mortgage-backed  securities  decreased $31,000,  or 11.8%, to
$231,000  for the six months  ended June 30,  2009,  from  $262,000 for the same
period in 2008,  due  primarily  to a 153 basis  point  decrease  in the average
yield,  which was  partially  offset by a $1.8  million  increase in the average
balance  of  securities  outstanding  period  to  period.   Interest  income  on
investment  securities  decreased  $398,000,  or 37.8%,  to $654,000 for the six
months  ended June 30,  2009,  compared  to $1.1  million for the same period in
2008, due primarily to an 142 basis point decrease in the average yield to 4.16%
in the 2009  period,  and a decrease  of $6.2  million,  or 16.6% in the average
balance  of  investment  securities   outstanding.   Interest  income  on  other
interest-earning  deposits  decreased  $45,000,  or 64.3% to $25,000 for the six
months ended June 30, 2009, as compared to the same period in 2008.

                                       20
<PAGE>


                             Cheviot Financial Corp.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)

Comparison of Operating Results for the Six-Month Periods Ended June 30, 2009
and 2008(continued)
--------------------------------------------------------------------------------

Interest expense decreased $931,000, or 20.7% to $3.6 million for the six months
ended June 30,  2009,  from $4.5  million for the same period in 2008.  Interest
expense on deposits decreased by $1.1 million, or 29.7%, to $2.6 million for the
six months  ended June 30,  2009,  from $3.7 million for the same period in 2008
due primarily to a 109 basis point  decrease in the average costs of deposits to
2.39% during the 2009 period,  which was partially offset by a $5.5 million,  or
2.6%,  increase  in  the  average  balances  outstanding.  Interest  expense  on
borrowings increased by $182,000,  or 24.4%, due primarily to a $9.0 million, or
26.9%,  increase in the average balance outstanding,  which was partially offset
by a 9 basis point decrease in the average cost of  borrowings.  The decrease in
the average cost of deposits and borrowings reflects lower shorter term interest
rates in 2009 as compared to 2008,  as actions by the Federal  Reserve to reduce
shorter term  interest  rates  resulted in a steepening of the yield curve and a
reduction of short term and medium term interest rates.

As a result of the foregoing  changes in interest  income and interest  expense,
net interest income increased by $417,000,  or 9.4%, to $4.9 million for the six
months ended June 30, 2009. The average  interest rate spread increased to 2.64%
for the six months  ended June 30, 2009 from 2.23% for the six months ended June
30, 2008.  The net interest  margin  increased to 3.09% for the six months ended
June 30, 2009 from 2.91% for the six months ended June 30, 2008.

Provision for Losses on Loans
-----------------------------

As a result of an  analysis  of  historical  experience,  the volume and type of
lending  conducted by the Savings  Bank,  the status of past due  principal  and
interest payments, general economic conditions,  particularly as such conditions
relate to the Savings  Bank's  market  area,  and other  factors  related to the
collectability  of the Savings  Bank's  loan  portfolio,  management  recorded a
$452,000  provision  for losses on loans for the six months ended June 30, 2009,
compared to a $288,000  provision  for losses on loans for the six months  ended
June 30, 2008.  The decision to make a provision  for loan losses during the six
months ended June 30, 2009 reflects the amount necessary to maintain an adequate
allowance  based on the five year  historical loss experience and other external
factors. These other external factors, economic conditions, and collateral value
changes,  have  had  a  negative  impact  on  non-owner-occupied  loans  in  the
portfolio.  There  can be no  assurance  that the loan  loss  allowance  will be
sufficient  to cover  losses on  non-performing  loans in the  future;  however,
management  believes they have identified all known and inherent losses that are
probable and that can be reasonably  estimated  within the loan  portfolio,  and
that the allowance is adequate to absorb such losses.

Other Income
------------

Other income increased $259,000, or 120.5%, to $474,000 for the six months ended
June 30, 2009, compared to the same period in 2008, due primarily to an increase
in the gain on the sale of loans of $263,000,  which was partially  offset by an
increase  of  $6,000  in the  loss  on  sale of  real  estate  acquired  through
foreclosure.

                                       21
<PAGE>


                             Cheviot Financial Corp.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)

Comparison of Operating Results for the Six-Month Periods Ended June 30, 2009
and 2008 (continued)
--------------------------------------------------------------------------------

General, Administrative and Other Expense
-----------------------------------------

General,  administrative and other expense increased $522,000, or 14.3%, to $4.2
million  for the six  months  ended June 30,  2009,  from $3.6  million  for the
comparable  period in 2008. This increase is a result of an increase of $188,000
in employee compensation and benefits, an increase of $25,000 in data processing
expense,  an increase of  $144,000  in FDIC  expense and a $116,000  increase in
other operating expense. The increase in employee compensation and benefits is a
result of the increase in compensation  expense for additional  employees and an
increase in the health costs as a result of overall company growth. The increase
in data  processing  expense is a result of the  conversion of the core computer
operating  system in May 2009.  The  increase in FDIC expense is a result of the
special   assessment   from  the  Federal  Deposit   Insurance   Corporation  of
approximately  $140,000.  The increase in other operating expense is a result of
real estate  taxes,  maintenance  and insurance  expense on properties  acquired
through foreclosure.

FDIC Premiums
-------------

The Federal Deposit Insurance Corporation ("FDIC") imposed an assessment against
institutions  for  deposit  insurance.  This  assessment  is  based  on the risk
category of the  institution  and currently  ranges from 5 to 43 basis points of
the  institution's  deposits.  Federal law requires that the designated  reserve
ratio for the  deposit  insurance  fund be  established  by the FDIC at 1.15% to
1.50% of estimated insured deposits.  If this reserve ratio drops below 1.15% or
the FDIC expects it to do so within six months,  the FDIC must,  within 90 days,
establish and implement a plan to restore the designated  reserve ratio to 1.15%
of  estimated   insured   deposits  within  five  years  (absent   extraordinary
circumstances). On December 22, 2008, the FDIC issued final rules increasing the
current  assessment  rates for all  institutions  by 7 basis points and up to 50
basis points for certain  financial  institutions for the first quarter of 2009.
It is expected that the FDIC will adopt a new risk based assessment system.

In addition, the Emergency Economic Stabilization Act of 2008 (EESA) temporarily
increased the limit on FDIC insurance  coverage for deposits to $250,000 through
December 31, 2009, and the FDIC took action to provide coverage for newly-issued
senior unsecured debt and non-interest bearing transaction accounts in excess of
the $250,000 limit, for which institutions will be assessed additional premiums.

On February 27, 2009,  the FDIC announced an amendment to its  restoration  plan
for the Deposit  Insurance Fund by imposing an emergency  special  assessment on
all insured financial institutions. This special assessment of $140,000 occurred
on June 30,  2009,  and will be  payable  by us on  September  30,  2009.  It is
expected that an additional special assessment may occur in 2009.

                                       22
<PAGE>


                             Cheviot Financial Corp.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)

Comparison of Operating Results for the Six-Month Periods Ended June 30, 2009
and 2008 (continued)
--------------------------------------------------------------------------------

Federal Income Taxes
--------------------

The provision for federal income taxes increased  $15,000,  or 7.5%, to $216,000
for the six months  ended June 30,  2009,  from  $201,000 for the same period in
2008. The effective tax rate was 29.4% and 27.0% for the six month periods ended
June 30, 2009 and 2008. The difference  between the Corporation's  effective tax
rate in the 2009 and 2008 periods and the 34%  statutory  corporate  rate is due
primarily to the tax-exempt  earnings on bank-owned life  insurance,  tax exempt
interest on municipal  obligations and tax benefits for the  contribution to the
Cheviot Savings Bank Foundation.

Comparison of Operating Results for the Three-Month Periods Ended June 30,
2009 and 2008
--------------------------------------------------------------------------------

General
-------

Net  earnings  for the three  months  ended June 30, 2009  totaled  $225,000,  a
$221,000  decrease from the $446,000  earnings reported in the June 2008 period.
The decrease in net earnings reflects an increase in general, administrative and
other  expenses of $350,000 and an increase in the provision for losses on loans
of  $90,000,  which  were  partially  offset by an  increase  of  $76,000 in net
interest  income,  an  increase  in other  income of $90,000  and a decrease  of
$53,000 in federal income taxes for the 2009 quarter.

Net Interest Income
-------------------

Total  interest  income  decreased  $315,000,  or 7.1%,  to $4.1 million for the
three-months ended June 30, 2009, from the comparable quarter in 2008.  Interest
income on loans  decreased  $83,000,  or 2.2%,  to $3.7 million  during the 2009
quarter from $3.8 million for the 2008 quarter.  This decrease was due primarily
to  a  $7.6  million,  or  3.0%,  decrease  in  the  average  balance  of  loans
outstanding,  which was  partially  offset by a 5 basis  point  increase  in the
average  yield on loans to 5.90% for the 2009  quarter  from 5.85% for the three
months ended June 30, 2008.

Interest income on  mortgage-backed  securities  increased  $3,000,  or 2.4%, to
$126,000  for the three  months  ended  June 30,  2009,  from  $123,000  for the
comparable 2008 quarter, due primarily to a $3.3 million increase in the average
balance of securities  outstanding,  which was  partially  offset by a 147 basis
point  decrease  in the  average  yield  period to  period.  Interest  income on
investment  securities  decreased $212,000,  or 42.6%, to $286,000 for the three
months ended June 30,  2009,  compared to $498,000 for the same quarter in 2008,
due primarily to a 266 basis point decrease in the average yield to 3.12% in the
2009 quarter, which was partially offset by an increase of $2.2 million, or 6.3%
in the average balance of investment securities outstanding.  Interest income on
other  interest-earning  deposits decreased $23,000, or 60.5% to $15,000 for the
three months ended June 30, 2009.

Interest  expense  decreased  $391,000,  or 18.5% to $1.7  million for the three
months  ended June 30,  2009,  from $2.1  million for the same  quarter in 2008.
Interest expense on deposits  decreased by $477,000,  or 27.4%, to $1.3 million,
from $1.7 million,  due  primarily to a 100 basis point  decrease in the average
costs of  deposits  to 2.25%  during  the 2009  quarter  due to the  lower  rate
repricings of  certificates  of deposit,  as deposit rates were lower in 2009 as
compared to 2008. This was partially offset by a $9.9 million, or 4.6%, increase
in the average balance outstanding.  Interest expense on borrowings increased by
$86,000,  or 23.2%, due primarily to a $7.0 million,  or 20.0%,  increase in the
average balance outstanding and a 12 basis point increase in the average cost of
borrowings.

                                       23
<PAGE>


                             Cheviot Financial Corp.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)

Comparison of Operating Results for the Three-Month Periods Ended June 30, 2009
and 2008(continued)
--------------------------------------------------------------------------------

As a result of the foregoing  changes in interest  income and interest  expense,
net interest income increased by $76,000, or 3.3%, to $2.4 million for the three
months ended June 30, 2009, as compared to the same quarter in 2008. The average
interest rate spread increased to 2.66% for the three months ended June 30, 2009
from 2.38% for the three  months ended June 30,  2008.  The net interest  margin
increased  slightly to 3.05% for the three months ended June 30, 2009 from 3.02%
for the three months ended June 30, 2008.

Provision for Losses on Loans
-----------------------------

Management  recorded  a  $115,000  provision  for  losses on loans for the three
months ended June 30, 2009,  compared to a $25,000 provision for losses on loans
for the three months ended June 30, 2008.  The decision to make a provision  for
loan losses  during the three  months  ended June 30, 2009  reflects  the amount
necessary to maintain an adequate  allowance  based on the five year  historical
loss experience and other external  factors.  There can be no assurance that the
loan loss allowance will be sufficient to cover losses on  non-performing  loans
in the future,  however  management  believes they have identified all known and
inherent  losses that are probable and that can be reasonably  estimated  within
the loan portfolio, and that the allowance for loan losses is adequate to absorb
such losses.

Other Income
------------

Other income increased $90,000, or 58.8%, to $243,000 for the three months ended
June 30,  2009,  compared  to the same  quarter  in 2008,  due  primarily  to an
increase  in the  gain on the sale of loans of  $136,000,  which  was  partially
offset  by an  increase  in the  loss on sale of real  estate  acquired  through
foreclosure of $45,000.

General, Administrative and Other Expense
-----------------------------------------

General,  administrative and other expense increased $350,000, or 19.1%, to $2.2
million for of the three months ended June 30, 2009.  This  increase is a result
of an increase of $88,000 in employee  compensation and benefits, an increase of
$141,000 in FDIC expense and an increase of $60,000 in other operating  expense.
The increase in employee  compensation  and benefits is a result of the increase
in compensation  expense for additional  employees and an increase in the health
costs as a result of overall company  growth.  The increase in FDIC expense is a
result of the special assessment from the Federal Deposit Insurance  Corporation
of approximately  $140,000.  The increase in other operating expense is a result
of real estate taxes,  maintenance and insurance expense on properties  acquired
through foreclosure.

Federal Income Taxes
--------------------

The provision for federal income taxes decreased $53,000,  or 32.7%, to $109,000
for the three months ended June 30, 2009,  from $162,000 for the same quarter in
2008, due primarily to a $274,000, or 45.1%,  decrease in pre-tax earnings.  The
effective  tax rate was 32.6% and 26.6% for the three month  periods  ended June
30,  2009 and 2008,  respectively.  The  difference  between  the  Corporation's
effective tax rate in the 2009 and 2008 periods and the 34% statutory  corporate
rate is due primarily to the tax-exempt  earnings on bank-owned  life insurance,
tax  exempt  interest  on  municipal   obligations  and  tax  benefits  for  the
contribution to the Cheviot Savings Bank Foundation.

                                       24
<PAGE>


                             Cheviot Financial Corp.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)


ITEM 3   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

There has been no  material  change in the  Corporation's  market risk since the
Form 10-K filed with the Securities  and Exchange  Commission for the year ended
December 31, 2008.

ITEM 4   CONTROLS AND PROCEDURES

The Corporation's  Chief Executive Officer and Chief Financial Officer evaluated
the disclosure  controls and  procedures  (as defined under Rules  13a-15(e) and
15d-15(e) of the  Securities  Exchange Act of 1934, as amended) as of the end of
the period covered by this quarterly  report.  Based upon that  evaluation,  the
Chief  Executive  Officer and Chief  Financial  Officer have  concluded that the
Corporation's disclosure controls and procedures are effective.

There were no changes in the Corporation's internal controls or in other factors
that  could  materially  affect,  or could  reasonably  be likely to  materially
affect,  these  controls  subsequent  to the  date of  their  evaluation  by the
Corporation's Chief Executive Officer and Chief Financial Officer.

                                       25

<PAGE>


                             Cheviot Financial Corp.

                                     PART II
ITEM 1.  Legal Proceedings
         -----------------

         None.

ITEM 1A. Risk Factors
         ------------

         There have been no changes to the Corporation's  risk factors since the
         filing  of the  Corporation's  Annual  Report on Form 10-K for the year
         ended December 31, 2008.

ITEM 2.  Unregistered Sales of Equity Securities and Use of Proceeds
         ------------------------------------------------------------

         The  Corporation  announced a repurchase plan on January 16, 2008 which
         provides  for the  repurchase  of 5% or  447,584  shares of our  common
         stock. As of June 30, 2009, the Corporation had purchased 82,968 shares
         pursuant to the program.
<TABLE>
<CAPTION>

                                                                                                         Total # of
                                                                                                   shares purchased
                                                              Total              Average          as part of publicly
                                                           # of shares         price paid           announced plans
                  Period                                    purchased           per share             or programs
                  ------                                    ---------           ---------            ------------

<S>                                                               <C>             <C>                   <C>
                  April 1-30, 2009                                -               $ -                    79,170
                  May 1-31, 2009                              3,798               $7.51                  82,968
                  June 1-30, 2009                                 -               $ -                    82,968
</TABLE>

ITEM 3.  Defaults Upon Senior Securities
         -------------------------------

         Not applicable.

ITEM 4.  Submission of Matters to a Vote of Security Holders
         ---------------------------------------------------

         The  Corporation  held its Annual Meeting of  Shareholders on April 28,
         2009.  Two matters were presented to the  shareholders  for a vote: The
         shareholders elected two directors by the following votes:

                                              For                Withheld
                                              ---                --------

         Steven R. Hausfeld                 8,276,609              61,272
         Thomas J. Linneman                 7,847,004             490,877

         In  addition,  the  following  are  the  continuing  directors  of  the
         Corporation:

         Edward L. Kleemeier
         John T. Smith
         Robert L. Thomas
         James E. Williamson

         The shareholders ratified the selection of Clark,  Schaefer,  Hackett &
         Co. as the  Corporation's  auditors for the 2009  calendar  year by the
         following vote:

         For: 8,318,567  Against: 17,766  Abstain: 1,548    Broker Non-Vote:  0

ITEM 5.  Other Information
         -----------------

         None.

                                       26
<PAGE>


                             Cheviot Financial Corp.

                               PART II (CONTINUED)


ITEM 6.  Exhibits
         --------

               31.1         Certification of Principal Executive Officer
                            Pursuant to Rule 13a-14 of the Securities
                            Exchange Act of 1934, As Adopted Pursuant to
                            Section 302 of the Sarbanes-Oxley Act of
                            2002.
               31.2         Certification of Principal Financial Officer
                            Pursuant to Rule 13a-14 of the Securities
                            Exchange Act of 1934, As Adopted Pursuant to
                            Section 302 of the Sarbanes-Oxley Act of
                            2002.
               32.1         Certification  of  Principal  Executive  Officer
                            Pursuant  to 18 U.S.C.  Section 1350,  as Adopted
                            Pursuant to Section 906 of the Sarbanes-Oxley Act of
                            2002.
               32.2         Certification  of  Principal  Financial  Officer
                            Pursuant  to 18 U.S.C.  Section 1350,  as Adopted
                            Pursuant to Section 906 of the Sarbanes-Oxley Act of
                            2002.

                                       27
<PAGE>



                             Cheviot Financial Corp.

                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


Date:  August 12, 2009                      By: /s/ Thomas J. Linneman
       --------------------------               -------------------------------
                                                Thomas J. Linneman
                                                President and Chief Executive
                                                Officer



Date:  August 12, 2009                      By: /s/ Scott T. Smith
       --------------------------               -------------------------------
                                                Scott T. Smith
                                                Chief Financial Officer

                                       28
<PAGE>



                                                                    Exhibit 31.1

                      CERTIFICATION PURSUANT TO RULE 13A-14
                     OF THE SECURITIES EXCHANGE ACT OF 1934
                    AS ADOPTED PURSUANT TO SECTION 302 OF THE
                           SARBANES-OXLEY ACT OF 2002

I, Thomas J. Linneman, certify that:


1.    I have reviewed this  quarterly  report on Form 10-Q of Cheviot  Financial
      Corp.;

2.    Based on my knowledge,  this quarterly  report does not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in light of the  circumstances  under which such
      statements were made, not misleading with respect to the period covered by
      this quarterly report;

3.    Based on my  knowledge,  the  financial  statements,  and other  financial
      information  included  in this  quarterly  report,  fairly  present in all
      material respects the financial condition,  results of operations and cash
      flows of the  registrant  as of, and for,  the periods  presented  in this
      quarterly report;

4.    The  registrant's  other  certifying  officer  and I are  responsible  for
      establishing  and  maintaining  disclosure  controls  and  procedures  (as
      defined in  Exchange  Act Rules  13a-15(e)  and  15d-15(e))  and  internal
      control  over  financial  reporting  (as  defined  in  Exchange  Act Rules
      13a-15(f) and 15d-15(f)) for the registrant and have:

          a. Designed  such  disclosure  controls and  procedures or caused such
             disclosure controls to be designed under our supervision, to ensure
             that material information relating to the registrant, including its
             consolidated  subsidiaries,  is made  known to us by others  within
             those  entities,  particularly  during  the  period  in which  this
             quarterly report is being prepared;

          b. Designed such internal control over financial reporting,  or caused
             such internal control over financial reporting to be designed under
             our  supervision,  to provide  reasonable  assurance  regarding the
             reliability of financial reporting and the preparation of financial
             statements  for  external  purposes in  accordance  with  generally
             accepted accounting principles;

          c. Evaluated the effectiveness of the registrant's disclosure controls
             and procedures and presented in this report our  conclusions  about
             the effectiveness of the disclosure controls and procedures,  as of
             the end of the period  covered by this  quarterly  report  based on
             such evaluation; and

          d. Disclosed  in this report any change in the  registrant's  internal
             control  over  financial   reporting   that  occurred   during  the
             registrant's  most recent fiscal quarter (the  registrant's  fourth
             fiscal quarter in the case of an annual report) that has materially
             affected,  or  is  reasonably  likely  to  materially  affect,  the
             registrant's internal control over financial reporting; and

5.    The registrant's other certifying  officer and I have disclosed,  based on
      our most recent  evaluation of internal control over financial  reporting,
      to the registrant's auditors and the audit committee of registrant's board
      of directors (or persons performing the equivalent functions):

          a. All significant  deficiencies and material weaknesses in the design
             or operation of internal control over financial reporting which are
             reasonably  likely to adversely affect the registrant's  ability to
             record, process, summarize and report financial information; and

          b. Any fraud,  whether or not material,  that  involves  management or
             other  employees  who have a significant  role in the  registrant's
             internal control over financial reporting.


Date:  August 12, 2009                     /s/ Thomas J. Linneman
       ---------------                     ------------------------------------
                                           Thomas J. Linneman
                                           President and Chief Executive Officer
                                           (principal executive officer)
<PAGE>
                                                                    Exhibit 31.2

                      CERTIFICATION PURSUANT TO RULE 13A-14
                     OF THE SECURITIES EXCHANGE ACT OF 1934
                    AS ADOPTED PURSUANT TO SECTION 302 OF THE
                           SARBANES-OXLEY ACT OF 2002


I, Scott T. Smith, certify that:


1.    I have reviewed this  quarterly  report on Form 10-Q of Cheviot  Financial
      Corp.;

2.    Based on my knowledge,  this quarterly  report does not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in light of the  circumstances  under which such
      statements were made, not misleading with respect to the period covered by
      this quarterly report;

3.    Based on my  knowledge,  the  financial  statements,  and other  financial
      information  included  in this  quarterly  report,  fairly  present in all
      material respects the financial condition,  results of operations and cash
      flows of the  registrant  as of, and for,  the periods  presented  in this
      quarterly report;

4.    The  registrant's  other  certifying  officer  and I are  responsible  for
      establishing  and  maintaining  disclosure  controls  and  procedures  (as
      defined in  Exchange  Act Rules  13a-15(e)  and  15d-15(e))  and  internal
      control  over  financial  reporting  (as  defined  in  Exchange  Act Rules
      13a-15(f) and 15d-15(f)) for the registrant and have:

          a. Designed  such  disclosure  controls and  procedures or caused such
             disclosure controls to be designed under our supervision, to ensure
             that material information relating to the registrant, including its
             consolidated  subsidiaries,  is made  known to us by others  within
             those  entities,  particularly  during  the  period  in which  this
             quarterly report is being prepared;

          b. Designed such internal control over financial reporting,  or caused
             such internal control over financial reporting to be designed under
             our  supervision,  to provide  reasonable  assurance  regarding the
             reliability of financial reporting and the preparation of financial
             statements  for  external  purposes in  accordance  with  generally
             accepted accounting principles;

          c. Evaluated the effectiveness of the registrant's disclosure controls
             and procedures and presented in this report our  conclusions  about
             the effectiveness of the disclosure controls and procedures,  as of
             the end of the period  covered by this  quarterly  report  based on
             such evaluation; and

          d. Disclosed  in this report any change in the  registrant's  internal
             control  over  financial   reporting   that  occurred   during  the
             registrant's  most recent fiscal quarter (the  registrant's  fourth
             fiscal quarter in the case of an annual report) that has materially
             affected,  or  is  reasonably  likely  to  materially  affect,  the
             registrant's internal control over financial reporting; and

5.    The registrant's other certifying  officer and I have disclosed,  based on
      our most recent  evaluation of internal control over financial  reporting,
      to the registrant's auditors and the audit committee of registrant's board
      of directors (or persons performing the equivalent functions):

          a. All significant  deficiencies and material weaknesses in the design
             or operation of internal control over financial reporting which are
             reasonably  likely to adversely affect the registrant's  ability to
             record, process, summarize and report financial information; and

          b. Any fraud,  whether or not material,  that  involves  management or
             other  employees  who have a significant  role in the  registrant's
             internal control over financial reporting.


Date:  August 12, 2009                     /s/ Scott T. Smith
       ---------------                     ------------------------------------
                                           Scott T. Smith
                                           Chief Financial Officer
                                           (principal financial officer)


<PAGE>


                                                                    Exhibit 32.1

                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


In  connection  with the  Quarterly  Report  of  Cheviot  Financial  Corp.  (the
"Company"),  on Form 10-Q for the period ended June 30, 2009,  as filed with the
Securities  and  Exchange  Commission  on the  date of this  Certification  (the
"Report"),  I, Thomas J. Linneman,  President and Chief Executive Officer of the
Company,  certify,  pursuant to 18 U.S.C.  Section 1350, as adopted  pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

         1. The Report fully complies with the requirements of Section 13(a) or
         15(d) of the Securities Exchange Act of 1934; and

         2. The information contained in the Report fairly presents, in all
         material respects, the financial condition and results of operations of
         the Company.

A signed  original of this  written  statement  required by Section 906 has been
provided  to  Cheviot  Financial  Corporation  and will be  retained  by Cheviot
Financial Corporation and furnished to the Securities and Exchange Commission or
its staff upon request.


                                           /s/ Thomas J. Linneman
                                           -------------------------------------
                                           Thomas J. Linneman
                                           President and Chief Executive Officer

         Date:  August 12, 2009
                ---------------


<PAGE>


                                                                    Exhibit 32.2

                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


In  connection  with the  Quarterly  Report  of  Cheviot  Financial  Corp.  (the
"Company"),  on Form 10-Q for the period ended June 30, 2009,  as filed with the
Securities  and  Exchange  Commission  on the  date of this  Certification  (the
"Report"),  I, Scott T. Smith, Chief Financial Officer of the Company,  certify,
pursuant to 18 U.S.C.  Section 1350,  as adopted  pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002, that, to my knowledge:

         1. The Report fully complies with the requirements of Section 13(a) or
         15(d) of the Securities Exchange Act of 1934; and

         2. The information contained in the Report fairly presents, in all
         material respects, the financial condition and results of operations of
         the Company.

A signed  original of this  written  statement  required by Section 906 has been
provided  to  Cheviot  Financial  Corporation  and will be  retained  by Cheviot
Financial Corporation and furnished to the Securities and Exchange Commission or
its staff upon request.



                                           /s/ Scott T. Smith
                                           -------------------------------------
                                           Scott T. Smith
                                           Chief Financial Officer

         Date:  August 12, 2009
                ---------------