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, 2006
                                -----------------------------------

                                       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   [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 11, 2006,  the latest  practicable  date,  9,463,321  shares of the
registrant's common stock, $.01 par value, were issued and outstanding.

                                  Page 1 of 21

<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                                             13

                 Quantitative and Qualitative Disclosures about
                 Market Risk                                            18

                 Controls and Procedures                                18

PART II  -       OTHER INFORMATION                                      19

SIGNATURES                                                              21


                                       2
<PAGE>







                             Cheviot Financial Corp.

                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

                        (In thousands, except share data)

<TABLE>
<CAPTION>
                                                                                           June 30,        December 31,
         ASSETS                                                                                2006                2005
                                                                                        (Unaudited)
<S>                                                                                     <C>                 <C>

Cash and due from banks                                                                  $    2,666          $    2,425
Federal funds sold                                                                            6,255               1,715
Interest-earning deposits in other financial institutions                                     2,654               4,963
                                                                                          ---------           ---------
         Cash and cash equivalents                                                           11,575               9,103

Investment securities held to maturity - at cost, approximate market value of
  $26,365 and $26,509 at June 30, 2006
  and December 31, 2005, respectively                                                        27,092              27,084
Mortgage-backed securities available for sale - at fair value                                 1,112               1,269
Mortgage-backed securities held to maturity - at cost, approximate
  market value of $17,113 and $20,193 at June 30, 2006 and
  December 31, 2005, respectively                                                            17,236              20,285
Loans receivable - net                                                                      232,716             222,053
Loans held for sale - at lower of cost or market                                                 -                  658
Real estate acquired through foreclosure - net                                                   -                   89
Office premises and equipment - at depreciated cost                                           4,345               3,628
Federal Home Loan Bank stock - at cost                                                        3,145               3,057
Accrued interest receivable on loans                                                            978                 873
Accrued interest receivable on mortgage-backed securities                                        64                  72
Accrued interest receivable on investments and interest-earning deposits                        339                 298
Prepaid expenses and other assets                                                               371                 145
Bank-owned life insurance                                                                     3,189               3,121
Prepaid federal income taxes                                                                     -                   56
                                                                                          ---------           ---------

         Total assets                                                                      $302,162            $291,791
                                                                                          =========           =========

         LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits                                                                                   $197,285            $181,238
Advances from the Federal Home Loan Bank                                                     30,055              33,209
Advances by borrowers for taxes and insurance                                                   355               1,063
Accounts payable and other liabilities                                                          855               1,090
Accrued federal income taxes                                                                     53                   -
Deferred federal income taxes                                                                   496                 381
                                                                                         ----------           ---------
         Total liabilities                                                                  229,099             216,981

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, 2006 and December 31, 2005                               99                  99
  Additional paid-in capital                                                                 42,966              42,824
  Shares acquired by stock benefit plans                                                     (4,686)            (5,092)
  Treasury stock - at cost, 431,227 and 216,208 shares at June 30, 2006
    and December 31, 2005, respectively                                                      (5,117)            (2,537)
  Retained earnings - restricted                                                             39,814              39,524
  Accumulated comprehensive loss, unrealized losses on securities available
    for sale, net of tax benefits                                                               (13)                (8)
                                                                                         ----------           ---------
         Total shareholders' equity                                                          73,063              74,810
                                                                                         ----------           ---------

         Total liabilities and shareholders' equity                                        $302,162            $291,791
                                                                                         ==========           =========

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

                                       3
<PAGE>


                             Cheviot Financial Corp.

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                      (In thousands, except per share data)

<TABLE>

<CAPTION>
                                                                          Six months ended             Three months ended
                                                                              June 30,                      June 30,
                                                                         2006         2005              2006         2005
<S>                                                                   <C>           <C>              <C>          <C>
                                                                                           (Unaudited)
Interest income
  Loans                                                                $6,776       $5,918            $3,453       $2,965
  Mortgage-backed securities                                              424          439               209          222
  Investment securities                                                   558          457               294          239
  Interest-earning deposits and other                                     109          109                68           68
                                                                       ------       ------            ------       ------
         Total interest income                                          7,867        6,923             4,024        3,494

Interest expense
  Deposits                                                              2,639        1,815             1,418          949
  Borrowings                                                              789          435               403          233
                                                                       ------       ------            ------       ------
         Total interest expense                                         3,428        2,250             1,821        1,182
                                                                       ------       ------            ------       ------

         Net interest income                                            4,439        4,673             2,203        2,312

Provision for losses on loans                                              -            32                -            32
                                                                       ------       ------            ------      -------

         Net interest income after provision for losses on loans        4,439        4,641             2,203        2,280

Other income (expense)
  Gain on sale of loans                                                    13            4                 6            3
  Loss on sale of real estate acquired through foreclosure                (21)          (6)              (21)          -
  Earnings on bank-owned life insurance                                    68           48                31           37
  Other operating                                                         163          146                87           73
                                                                       ------       ------            ------        -----
         Total other income                                               223          192               103          113

General, administrative and other expense
  Employee compensation and benefits                                    2,042        1,763             1,023          937
  Occupancy and equipment                                                 206          226               106          110
  Property, payroll and other taxes                                       416          477               210          309
  Data processing                                                         137          115                70           56
  Legal and professional                                                  211          306               108          178
  Advertising                                                              88           88                44           44
  Other operating                                                         282          270               141          135
                                                                       ------       ------            ------       ------
         Total general, administrative and other expense                3,382        3,245             1,702        1,769
                                                                       ------       ------            ------       ------

         Earnings before income taxes                                   1,280        1,588               604          624

Federal income taxes
  Current                                                                 296          470                81          186
  Deferred                                                                117           55               117           14
                                                                       ------       ------            ------       ------
         Total federal income taxes                                       413          525               198          200
                                                                       ------       ------            ------       ------

         NET EARNINGS                                                 $   867       $1,063           $   406      $   424
                                                                       ======       ======            ======       ======

         EARNINGS PER SHARE
           Basic                                                      $   .09       $  .11           $   .04      $   .04
                                                                       ======       ======            ======       ======

           Diluted                                                    $   .09         $.11              $.04      $   .04
                                                                       ======       ======            ======       ======

           Dividends per common share                                 $   .14      $   .12           $   .07      $   .06
                                                                       ======       ======            ======       ======
</TABLE>
See accompanying notes to consolidated financial statements.

                                       4

<PAGE>



                             Cheviot Financial Corp.

           CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

            For the six and three months ended June 30, 2006 and 2005
                                 (In thousands)


<TABLE>
<CAPTION>
                                                                       For the six months           For the three months
                                                                         ended June 30,                ended June 30,
                                                                       2006         2005              2006         2005
<S>                                                                   <C>        <C>                 <C>            <C>

Net earnings for the period                                            $867       $1,063              $406           $424

Other comprehensive gain (loss), net of tax (benefits):
  Unrealized holding losses on securities during the
    period, net of taxes (benefits) of $(3) and $2 for
    the six months ended June 30, 2006 and 2005, respectively,
    and $(1) and $1 for the three months ended June 30,
    2006 and 2005, respectively                                         (5)            4               (2)              1
                                                                      -----       ------             -----          -----

Comprehensive income                                                  $ 862       $1,067              $404           $425
                                                                      =====       ======             =====          =====

Accumulated comprehensive loss                                        $ 13)   $      (2)            $ (13)        $   (2)
                                                                      =====       ======             =====          =====


</TABLE>

                                       5
<PAGE>


                             Cheviot Financial Corp.

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                 For the six months ended June 30, 2006 and 2005
                                 (In thousands)
<TABLE>
<CAPTION>
                                                                                               2006                2005
                                                                                                      (Unaudited)
<S>                                                                                      <C>                  <C>
Cash flows from operating activities:
  Net earnings for the period                                                             $     867            $  1,063
  Adjustments to reconcile net earnings to net cash
  provided by operating activities:
    Amortization of premiums and discounts on investment
      and mortgage-backed securities, net                                                        (1)                 32
    Depreciation                                                                                119                 123
    Amortization of deferred loan origination fees - net                                        (15)                (15)
    Proceeds from sale of loans in the secondary market                                       1,345                 651
    Loans originated for sale in the secondary market                                        (1,332)               (648)
    Gain on sale of loans                                                                       (13)                 (4)
    Loss on sale of real estate acquired through foreclosure                                     21                   6
    Federal Home Loan Bank stock dividends                                                      (88)                (68)
    Provision for losses on loans                                                                -                   32
    Amortization of expense related to stock benefit plans                                       23                 100
    Increase (decrease) in cash due to changes in:
      Accrued interest receivable on loans                                                     (105)                (49)
      Accrued interest receivable on mortgage-backed securities                                   8                  11
      Accrued interest receivable on investments and interest-
        bearing deposits                                                                        (41)                (63)
      Prepaid expenses and other assets                                                        (226)                 34
      Accounts payable and other liabilities                                                    171                 (99)
      Federal income taxes
        Current                                                                                 109                (324)
        Deferred                                                                                117                  55
                                                                                           --------            --------
         Net cash provided by operating activities                                              959                 837

Cash flows used in investing activities:
  Principal repayments on loans                                                              18,951              19,661
  Loan disbursements                                                                        (28,941)            (23,701)
  Purchase of U.S. Government and agency obligations                                             -               (1,977)
  Proceeds from maturity of U.S. Government and agency obligations                               -                2,000
  Principal repayments on mortgage-backed securities                                          3,192               4,158
  Proceeds from sale of real estate acquired through foreclosure                                 68                  84
  Purchase of office premises and equipment                                                    (836)               (616)
  Purchase of bank-owned life insurance                                                          -               (3,000)
  Net increase in the cash surrender value of life insurance                                    (68)                (48)
                                                                                           --------            ---------
         Net cash used in investing activities                                               (7,634)             (3,439)

Cash flows provided by financing activities:
  Net increase in deposits                                                                   16,047                 890
  Proceeds from Federal Home Loan Bank advances                                               3,500               7,000
  Repayments on Federal Home Loan Bank advances                                              (6,654)             (2,214)
  Advances by borrowers for taxes and insurance                                                (708)               (624)
  Repurchase of shares for stock benefit plans                                                   -                 (935)
  Treasury stock repurchases                                                                 (2,580)                 -
  Stock option expense, net                                                                     119                  -
  Dividends paid on common stock                                                               (577)               (536)
                                                                                           --------            ---------
         Net cash provided by financing activities                                            9,147                3,581
                                                                                           --------            ---------

Net increase in cash and cash equivalents                                                     2,472                 979

Cash and cash equivalents at beginning of period                                              9,103               7,725
                                                                                           --------            ---------

Cash and cash equivalents at end of period                                                  $11,575            $  8,704
                                                                                           ========            ========
</TABLE>
                                       6

<PAGE>




                             Cheviot Financial Corp.

                CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

                 For the six months ended June 30, 2006 and 2005
                                 (In thousands)

<TABLE>
<CAPTION>
                                                                                               2006                2005
                                                                                                      (Unaudited)
<S>                                                                                        <C>                 <C>

Supplemental disclosure of cash flow information:
  Cash paid during the period for:
    Federal income taxes                                                                    $   305             $   794
                                                                                             ======              ======

    Interest on deposits and borrowings                                                     $ 3,428             $ 2,250
                                                                                             ======              ======

Supplemental disclosure of noncash investing activities:
  Transfer of loans to real estate acquired through foreclosure                             $    -              $    28
                                                                                             ======              ======

  Recognition of mortgage servicing rights in accordance with SFAS No. 140                  $    11             $     1
                                                                                             ======              ======
</TABLE>

See accompanying notes to consolidated financial statements.
                                       7

<PAGE>




                             Cheviot Financial Corp.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

            For the three and six months ended June 30, 2006 and 2005


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

In  January  2004,   Cheviot  Financial  Corp.   ("Cheviot   Financial"  or  the
"Corporation")   completed  a  Plan  of   Reorganization   (the  "Plan"  or  the
"Reorganization")  pursuant to which Cheviot  Savings Bank (the "Savings  Bank")
reorganized   into  a  two-tier  mutual  holding  company   structure  with  the
establishment  of Cheviot  Financial,  as parent of the Savings  Bank,  with the
Savings Bank converting to stock form and issuing all of its  outstanding  stock
to  Cheviot  Financial.  Pursuant  to the Plan,  Cheviot  Financial  Corp.  sold
4,388,438 common shares in a minority stock offering, representing approximately
44% of its  outstanding  common stock at $10.00 per share to the Savings  Bank's
depositors and a newly formed  Employee Stock  Ownership Plan ("ESOP").  The net
proceeds of the  offering  totaled  approximately  $39.3  million.  In addition,
75,000 shares,  or  approximately  one percent of its outstanding  shares,  were
issued to a charitable  foundation  established  by Cheviot  Savings  Bank.  The
remaining  5,455,313 shares of common stock of Cheviot  Financial were issued to
Cheviot Mutual Holding Company,  the federally  chartered mutual holding company
of Cheviot Financial Corp.

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, 2005. 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, 2006, 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, 2006,  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, 2006 and December 31,  2005,  we had $30.1  million and
$33.2 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 $104.0 million.

Loan repayments and maturing  securities are a relatively  predictable source of
funds. 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, 2006 and 2005


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,
2006, loan originations totaled $30.3 million, compared to $24.3 million for the
six months ended June 30, 2005.

Total deposits  increased $16.0 million and $890,000 during the six months ended
June 30,  2006 and 2005.  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, 2006.
<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           $      -      $      -          $ -       $30,055     $ 30,055
      Certificates of deposit                              102,460        28,909          459           -       131,828
      Construction of branch (1)                               883            -            -            -           883

    Amount of loan commitments and expiration per period:
      Commitments to originate one- to four-family
        loans                                                2,400            -            -            -         2,400
      Home equity lines of credit                           10,713            -            -            -        10,713
      Undisbursed loans in process                           6,798            -            -            -         6,798
      Lease obligations                                          3             1           -            -             4
                                                         ---------    ----------          ---      -------     --------

         Total contractual obligations                   $ 123,257     $  28,910         $459      $30,055     $182,681
                                                         =========    ==========          ===      =======     ========

----------------------------------
</TABLE>


(1) The total commitment  related to the branch was $890,000 of which $7,000 has
been disbursed.  In addition, at June 30, 2006, we were in contract negotiations
for the construction of an additional branch.

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, 2006 and 2005


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

At June 30, 2006 and 2005, we exceeded all of the applicable  regulatory capital
requirements.  Our core (Tier 1) capital was $50.1 million and $59.6 million, or
16.6% and  21.2% of total  assets at June 30,  2006 and 2005,  respectively.  In
order to be classified as "well-capitalized"  under federal banking regulations,
we were  required  to have core  capital of at least $18.1  million,  or 6.0% of
assets as of June 30, 2006. 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, 2006 and 2005, we had a total risk-based  capital ratio
of 34.2% and 45.4%, 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.  Weighted-average  common shares deemed outstanding gives effect
to 285,661 and 321,368 unallocated shares held by the ESOP for the three and six
months ended June 30, 2006 and 2005, respectively.
<TABLE>
<CAPTION>

                                                          For the six months ended             For the three months ended
                                                                  June 30,                               June 30,
                                                            2006            2005                    2006           2005
        <S>                                           <C>             <C>                     <C>            <C>

         Weighted-average common shares
           outstanding (basic)                         9,312,314       9,596,594               9,261,780      9,597,383

         Dilutive effect of assumed exercise
           of stock options                               21,749           2,733                  25,986          2,733
                                                     -----------     -----------              ----------     ----------

         Weighted-average common shares
           outstanding (diluted)                       9,334,063       9,599,327               9,287,766      9,600,116
                                                     ===========     ===========              ==========     ==========
</TABLE>

A total of 6,060 shares with a weighted-average exercise price of $12.12 are not
included in the earnings per share calculation for both the three and six months
as these shares are anti-dilutive.

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. On May 5, 2005, approximately 384,000
option  shares  were  granted  subject to five year  vesting.  On May 23,  2006,
approximately 6,100 option shares were granted subject to five year vesting.

Prior to  January 1, 2006,  the  Corporation  utilized  APB  Opinion  No. 25 and
related Interpretations in accounting for its stock option plan. Accordingly, no
compensation  cost had been recognized for the plan. As the Stock Incentive Plan
was approved late in the June 30, 2005 quarter,  no pro-forma  disclosures  were
provided  for the six months then  ended.  For the three  months  ended June 30,
2005,  net earnings  would have been reduced by $28,000,  resulting in pro-forma
net earnings of $396,000, or $.04 per share.

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, 2006 and 2005


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  will apply 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 will recognize  compensation cost
for the portion of  equity-based  awards for which the requisite  service period
has not been rendered ("unvested  equity-based  awards") that are outstanding as
of January 1, 2006.  The  compensation  cost recorded for unvested  equity-based
awards is based on their  grant-date  fair value.  For the six months ended June
30, 2006, the Corporation  recorded $85,000 in after-tax  compensation  cost for
equity-based  awards that vested during the six months ended June 30, 2006.  The
Corporation has $1.0 million  unrecognized  pre-tax compensation cost related to
non-vested equity-based awards granted under its stock incentive plan as of June
30, 2006,  which is expected to be recognized  over a  weighted-average  vesting
period of approximately 3.9 years.

A summary of the status of the  Corporation's  stock  option plan as of June 30,
2006, and changes during the period then ended is presented below:
<TABLE>
<CAPTION>
                                                                    Six months ended                    Year ended
                                                                      June 30, 2006                  December 31, 2005
                                                                                Weighted-                       Weighted-
                                                                                average                         average
                                                                                exercise                        exercise
                                                                  Shares          price           Shares          price
<S>                                                              <C>           <C>               <C>           <C>

    Outstanding at beginning of period                            383,700       $11.15                  -       $    -
    Granted                                                         6,060         12.12            383,700       11.15
    Exercised                                                          -              -                 -            -
    Forfeited                                                          -              -                 -            -
                                                                 --------       ------             -------       -------

    Outstanding at end of period                                  389,760       $11.17             383,700      $11.15
                                                                 ========       ------             =======       =======

    Options exercisable at period-end                              76,740       $11.15                  -       $    -
                                                                 ========       ------             =======       =======

    Options expected to be exercisable at year-end                 76,740                               -
                                                                 ========                          =======

    Fair value of options granted                                               $ 2.97                         $  3.36
                                                                                =======                          =======

    The following information applies to options outstanding at June 30, 2006:

    Number outstanding                                                                                          389,760
    Exercise price                                                                                      $11.15 - $12.12
    Weighted-average exercise price                                                                               $11.17
    Weighted-average remaining contractual life                                                                8.9 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.

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 2005 and 2006: dividend yield of 2.15% and 2.31%,
expected  volatility  of 22.5% and 14.4%  risk-free  interest  rate of 4.19% and
5.07% and an expected life of 10 years for each grant.

                                       11
 <PAGE>


                             Cheviot Financial Corp.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

            For the three and six months ended June 30, 2006 and 2005


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

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

6. Effects of Recent Accounting Pronouncements
   -------------------------------------------

In February 2006, the FASB issued SFAS No. 155,  "Accounting  for Certain Hybrid
Instruments - an amendment of FASB  Statements No. 133 and 140," to simplify and
make  more  consistent  the  accounting  for  certain   financial   instruments.
Specifically,  SFAS No. 155 amends  SFAS No.  133,  "Accounting  for  Derivative
Instruments and Hedging  Activities," to permit fair value remeasurement for any
hybrid  financial  instrument  with an embedded  derivative that otherwise would
require  bifurcation,  provided that the whole  instrument is accounted for on a
fair value basis.  SFAS No. 155 amends SFAS No. 140,  "Accounting  for Transfers
and Servicing of Financial Assets and Extinguishment of Liabilities," to allow a
qualifying special purpose entity to hold a derivative  instrument that pertains
to a beneficial interest other than another derivative financial instrument.

SFAS No. 155 is effective for all financial instruments acquired or issued after
the beginning of an entity's  first fiscal year that begins after  September 15,
2006,  or  January  1,  2007 as to the  Corporation,  with  earlier  application
allowed.  The  Corporation  is currently  evaluating  SFAS No. 155, but does not
expect it to have a material effect on the Corporation's  financial  position or
results of operations.

In March  2006,  the FASB  issued SFAS No. 156,  "Accounting  for  Servicing  of
Financial Assets - an amendment of SFAS No. 140," to simplify the accounting for
separately recognized servicing assets and servicing liabilities.  Specifically,
SFAS No.  156 amends  SFAS No.  140 to  require an entity to take the  following
steps:

  o  Separately  recognize  financial  assets  as  servicing  assets  or
     servicing  liabilities,  each time it undertakes an obligation to service a
     financial  asset by entering into certain kinds of servicing  contracts;


  o  Initially   measure  all  separately   recognized   servicing   assets  and
     liabilities  at fair  value,  if  practicable,  and;

  o  Separately  present  servicing  assets and liabilities  subsequently
     measured  at  fair  value  in  the  statement  of  financial  position  and
     additional  disclosures for all separately  recognized servicing assets and
     servicing liabilities.

Additionally,  SFAS No. 156 permits,  but does not require,  an entity to choose
either  the  amortization  method  or the  fair  value  measurement  method  for
measuring  each class of separately  recognized  servicing  assets and servicing
liabilities. SFAS No. 156 also permits a servicer that uses derivative financial
instruments  to offset  risks on servicing  to use fair value  measurement  when
reporting both the derivative  financial  instrument and related servicing asset
or liability.

SFAS  No.  156  applies  to  all  separately  recognized  servicing  assets  and
liabilities  acquired or issued after the  beginning of an entity's  fiscal year
that begins after September 15, 2006, or January 1, 2007 as to the  Corporation,
with earlier application permitted. The Corporation is currently evaluating SFAS
No. 156, but does not expect it to have a material  effect on the  Corporation's
financial position or results of operations.

                                       12
<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.


Discussion of Financial  Condition  Changes at December 31, 2005 and at June 30,
2006
-------------------------------------------------------------------------------

Total assets  increased  $10.4  million,  or 3.6%, to $302.2 million at June 30,
2006,  from $291.8  million at December 31,  2005.  The increase in total assets
reflects an increase in loans receivable, office premises and equipment and cash
and  cash   equivalents,   which  were   partially   offset  by  a  decrease  in
mortgage-backed securities.

Cash, federal funds sold and  interest-earning  deposits increased $2.5 million,
or 27.2%,  to $11.6 million at June 30, 2006,  from $9.1 million at December 31,
2005.  The  increase  in cash and  cash  equivalents  was due to a $4.5  million
increase  in federal  funds sold and an increase in cash and cash due from banks
of  $241,000,  which were  partially  offset by a decrease in  interest  earning
deposits of $2.3  million,  or 46.5%,  at June 30, 2006.  Investment  securities
increased  $8,000 to $27.1 million at June 30, 2006. All  investment  securities
are classified as held to maturity.

Mortgage-backed securities decreased $3.2 million, or 14.9%, to $18.3 million at
June 30,  2006,  from $21.6  million at  December  31,  2005.  The  decrease  in
mortgage-backed  securities  was due  primarily  to  principal  prepayments  and
repayments   totaling  $3.2  million.   At  June  30,  2006,  $17.2  million  of
mortgage-backed  securities  were  classified  as held to  maturity,  while $1.1
million  were  classified  as  available  for sale.  Management  has  focused on
investing  in  shorter  term  investments  in an effort to further  enhance  the
Corporation's liquidity in an uncertain interest rate environment.

Loans receivable increased $10.0 million, or 4.5%, to $232.7 million at June 30,
2006,  from $222.7  million at December 31, 2005.  The  increase  reflects  loan
originations  totaling  $30.3  million,   partially  offset  by  loan  principal
repayments of $19.0 million and sales of $1.3 million.

The  allowance  for loan  losses  totaled  $808,000  at both  June 30,  2006 and
December 31, 2005,  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.  This segment of the loss  analysis  resulted in no
addition to the  provision  for loss for the quarter  ended June 30,  2006.  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, 2006.

                                       13

<PAGE>


                             Cheviot Financial Corp.

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


Discussion  of Financial  Condition  Changes from  December 31, 2005 to June 30,
2006 (continued)
-------------------------------------------------------------------------------

Non-performing and impaired loans totaled $242,000 and $149,000 at June 30, 2006
and December  31,  2005,  respectively.  At June 30,  2006,  non-performing  and
impaired   loans  were  comprised  of  loans  secured  by  one-  to  four-family
residential real estate totaling  $107,000 and by multi-family  residential real
estate totaling  $135,000.  The allowance for loan losses represented 333.9% and
542.3% of  non-performing  and impaired  loans at June 30, 2006 and December 31,
2005,   respectively.   Although  management  believes  that  the  Corporation's
allowance for loan losses conforms with 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 $16.0 million,  or 8.9%, to $197.3 million at June 30, 2006,
from $181.2  million at December 31, 2005.  Advances  from the Federal Home Loan
Bank of Cincinnati  decreased by $3.2 million, or 9.5%, to $30.1 million at June
30, 2006,  from $33.2 million at December 31, 2005.  Deposit  growth allowed for
the repayment of advances from the Federal Home Loan Bank.

Shareholders'  equity decreased $1.7 million,  or 2.3%, to $73.1 million at June
30,  2006,  from $74.8  million at December 31,  2005.  The  decrease  primarily
resulted from the  repurchase  of treasury  shares of $2.6 million and dividends
paid of  $577,000,  which were  partially  offset by net  earnings of  $867,000,
vesting of $406,000 of stock benefit plan shares and  amortization of shares for
stock benefit plans of $23,000.


Comparison of Operating  Results for the  Six-Month  Periods Ended June 30, 2006
and 2005
--------------------------------------------------------------------------------

General
-------

Net earnings for the six months ended June 30, 2006 totaled $867,000, a $196,000
decrease  from the $1.1 million net  earnings  reported in the June 2005 period.
The  decrease  in net  earnings  reflects a  $137,000  increase  in general  and
administrative  expense  in 2006 and a decrease  in net  interest  income  after
provision for loan losses of $202,000, which was partially offset by an increase
in other  income of $31,000 and a decrease of $112,000 in federal  income  taxes
for the 2006 period.

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

Total interest  income  increased  $944,000,  or 13.6%,  to $7.9 million for the
six-months  ended June 30, 2006,  from the comparable  period in 2005.  Interest
income on loans  increased  $858,000,  or 14.5%, to $6.8 million during the 2006
period from $5.9 million for the 2005 period. This increase was due primarily to
a $22.0 million, or 10.6%, increase in the average balance of loans outstanding,
and a 20 basis point  increase in the  weighted-average  yield on loans to 5.93%
for 2006 period from 5.73% for the six months ended June 30, 2005.

                                       14

<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, 2006
and 2005(continued)
-----------------------------------------------------------------------------

Net Interest Income (continued)
-------------------

Interest income on mortgage-backed  securities  decreased  $15,000,  or 3.4%, to
$424,000  for the six months  ended June 30,  2006,  from  $439,000 for the 2005
period,  due  primarily  to a $7.0  million  decrease in the average  balance of
securities outstanding, which was partially offset by a 102 basis point increase
in the average yield period to period.  Interest income on investment securities
increased  $101,000,  or 22.1%,  to $558,000  for the six months  ended June 30,
2006,  compared to $457,000 for the same period in 2005,  due  primarily to a 77
basis point  increase in the average  yield to 4.12 % in the 2006 period,  which
was partially  offset by a $183,000,  or 0.7% decrease in the average balance of
investment  securities  outstanding.  Interest income on other  interest-earning
deposits was $109,000 for both the six months ended June 30, 2006 and 2005.

Interest expense  increased $1.2 million,  or 52.4%, to $3.4 million for the six
months  ended June 30,  2006,  from $2.3  million  for the same  period in 2005.
Interest  expense on deposits  increased by $824,000,  or 45.4%, to $2.6 million
from $1.8  million due  primarily  to a 85 basis point  increase in the weighted
average  costs of  deposits to 2.89%  during the 2006 period and a $4.5  million
increase  in the  weighted-average  balance  outstanding.  Interest  expense  on
borrowings increased by $354,000, or 81.4%, due primarily to a $12.5 million, or
60.5%, increase in the average balance outstanding and a 55 basis point increase
in  the   average   cost  of   borrowings.   The   increase  in  the  yields  on
interest-earning  assets  and  costs of  interest-bearing  liabilities  were due
primarily to the overall increase in market rates in the June 2006 period.

As a result of the foregoing  changes in interest  income and interest  expense,
net interest income decreased by $234,000,  or 5.0%, to $4.4 million for the six
months ended June 30, 2006. The average  interest rate spread decreased to 2.44%
for the six months  ended June 30, 2006 from 2.87% for the six months ended June
30, 2005.  The net interest  margin  decreased to 3.17% for the six months ended
June 30, 2006 from 3.47% for the six months ended June 30, 2005.

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

As a result  of the  allowance  for loan  losses  analysis  described  elsewhere
herein,  management concluded that the allowance for loan loss was adequate, and
therefore,  did not record a  provision  for losses on loans for the  six-months
ended June 30, 2006. During the six months ended June 30, 2005,  management made
a provision for losses on loans of $32,000.  As stated previously,  there can be
no assurance  that the loan loss allowance will be sufficient to cover losses on
non-performing loans in the future.

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

Other income increased  $31,000,  or 16.1%, to $223,000 for the six months ended
June 30, 2006, compared to the same period in 2005, due primarily to an increase
of $20,000 in earnings on bank-owned life insurance,  an increase in the gain on
sale of loans of $9,000,  and an increase in other operating  income of $17,000,
which was  partially  offset by an  increase  in the loss on sale of real estate
acquired through foreclosure of $15,000.

                                       15

<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, 2006
and 2005 (continued)
-----------------------------------------------------------------------------

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

General,  administrative and other expense increased $137,000,  or 4.2%, to $3.4
million  for the six  months  ended June 30,  2006,  from $3.2  million  for the
comparable  period in 2005. This increase is a result of an increase of $279,000
in  employee  compensation  and  benefits  and an  increase  in other  operating
expenses of  $12,000,  which were  partially  offset by a decrease of $61,000 in
property,  payroll,  and other  taxes and a decrease  in legal and  professional
expenses of $95,000.  The increase in employee  compensation and benefits is due
primarily  to an  increase  in  expense  related to stock  benefit  plans and an
increase in the number of employees as a result of the Corporation's growth. The
increase in other operating  expenses was due primarily to services  provided to
identify and improve branch operations.  The decrease in property,  payroll, and
other taxes is due primarily to a decrease in Ohio  franchise  tax. The decrease
in legal and professional expenses was due primarily to services provided during
the 2005 period.

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

The provision for federal income taxes decreased $112,000, or 21.3%, to $413,000
for the six months  ended June 30,  2006,  from  $525,000 for the same period in
2005, due primarily to a $308,000, or 19.4%,  decrease in pre-tax earnings.  The
effective  tax rate was 32.3% and 33.1% for the six month periods ended June 30,
2006 and 2005. The difference  between the  Corporation's  effective tax rate in
the 2006 and 2005 periods and the 34% statutory  corporate rate reflects the tax
exempt earnings on bank-owned life insurance.


Comparison of Operating Results for the Three-Month Periods Ended June 30, 2006
and 2005
-------------------------------------------------------------------------------

General
-------

Net  earnings for the three  months  ended June 30, 2006  totaled  $406,000,  an
$18,000  decrease  from the  $424,000  net  earnings  reported  in the June 2005
period.  The decrease in net earnings reflects a decrease in net interest income
after the  provision  for losses on loans of  $77,000,  and a decrease  in other
income of  $10,000,  which  were  partially  offset by a  decrease  in  general,
administrative and other expenses of $67,000 and a decrease of $2,000 in federal
income taxes for the 2006 quarter.

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

Total interest  income  increased  $530,000,  or 15.2%,  to $4.0 million for the
three-months ended June 30, 2006, from the comparable quarter in 2005.  Interest
income on loans  increased  $488,000,  or 16.5%, to $3.5 million during the 2006
period from $3.0 million for the 2005 period. This increase was due primarily to
a $25.9 million, or 12.6%, increase in the average balance of loans outstanding,
and a 19 basis point  increase in the  weighted-average  yield on loans to 5.98%
for 2006 quarter from 5.79% for the three months ended June 30, 2005.

                                       16

<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, 2006
and 2005  (continued)
-------------------------------------------------------------------------------

Net Interest Income (continued)
-------------------

Interest income on mortgage-backed  securities  decreased  $13,000,  or 5.9%, to
$209,000 for the three months  ended June 30, 2006,  from  $222,000 for the 2005
quarter,  due  primarily  to a $9.4 million  decrease in the average  balance of
securities outstanding, which was partially offset by a 128 basis point increase
in the average yield period to period.  Interest income on investment securities
increased  $55,000,  or 23.0%,  to $294,000  for the three months ended June 30,
2006,  compared to $239,000 for the same quarter in 2005,  due primarily to a 97
basis point  increase in the average yield to 4.34% in the 2006  quarter,  which
was partially offset by a $1.3 million,  or 4.5% decrease in the average balance
of investment securities outstanding.  Interest income on other interest-earning
deposits was $68,000 for the three months ended June 30, 2006 and 2005.

Interest  expense  increased  $639,000,  or 54.1%, to $1.8 million for the three
months  ended June 30,  2006,  from $1.2  million  for the same  period in 2005.
Interest  expense on deposits  increased by $469,000,  or 49.4%, to $1.4 million
from $949,000 due primarily to a 90 basis point increase in the weighted average
costs of deposits to 3.04% during the 2006 period and a $9.2  million,  or 5.2%,
increase  in the  weighted-average  balance  outstanding.  Interest  expense  on
borrowings increased by $170,000, or 73.0%, due primarily to a $13.6 million, or
70.1%,  increase in the average balance outstanding and a 8 basis point increase
in  the   average   cost  of   borrowings.   The   increase  in  the  yields  on
interest-earning  assets  and  costs of  interest-bearing  liabilities  were due
primarily to the overall increase in market rates in the June 2006 quarter.

As a result of the foregoing  changes in interest  income and interest  expense,
net interest  income  decreased by  $109,000,  or 4.7%,  to $2.2 million for the
three months ended June 30, 2006. The average  interest rate spread decreased to
2.37% for the three  months  ended June 30, 2006 from 2.79% for the three months
ended June 30, 2005.  The net interest  margin  decreased to 3.11% for the three
months ended June 30, 2006 from 3.44% for the three months ended June 30, 2005.

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

As a result of the allowance  for loan losses  analysis  described  elsewhere in
this  document,  management  concluded  that the  allowance  for  loan  loss was
adequate, and therefore,  did not record a provision for losses on loans for the
three-months  ended June 30, 2006.  There can be no assurance that the loan loss
allowance  will be  sufficient  to cover losses on  non-performing  loans in the
future. During the three months ended June 30, 2005, management made a provision
for losses on loans of $32,000.

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

Other income decreased $10,000,  or 8.8%, to $103,000 for the three months ended
June 30, 2006,  compared to the same quarter in 2005, due primarily to a loss on
the sale of real estate  acquired  through  foreclosure  totaling  $21,000 and a
decrease  of $6,000  in  earnings  on  bank-owned  life  insurance,  which  were
partially  offset by an increase in the gain on sale of loans of $3,000,  and an
increase in other operating income of $14,000.

                                       17

<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, 2006
and 2005  (continued)
-------------------------------------------------------------------------------

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

General,  administrative and other expense decreased  $67,000,  or 3.8%, to $1.7
million for the three  months  ended June 30,  2006,  from $1.8  million for the
comparable  quarter in 2005. This decrease is a result of a $99,000  increase in
property,  payroll,  and  other  taxes  and a  $70,000  decrease  in  legal  and
professional  expenses,  partially  offset by an increase of $86,000 in employee
compensation and benefits. The decrease in property, payroll, and other taxes is
due  primarily  to a decrease in Ohio  franchise  tax. The decrease in legal and
professional  expenses was due primarily to legal services  provided  during the
2005 period for the development of stock benefit plans. The increase in employee
compensation  and benefits is due primarily to an increase in expense related to
stock  benefit  plans and an increase in the number of  employees as a result of
the Corporation's growth.

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

The provision for federal income taxes  decreased  $2,000,  or 1.0%, to $198,000
for the three months ended June 30, 2006,  from $200,000 for the same quarter in
2005, due primarily to a $20,000,  or 3.2%,  decrease in pre-tax  earnings.  The
effective  tax rate was 32.8% and 32.1% for the three month  periods  ended June
30, 2006 and 2005. The difference  between the Corporation's  effective tax rate
in the  2006  and  2005  periods  and the 34%  statutory  corporate  rate is due
primarily to the tax exempt earnings on bank-owned life insurance.


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, 2005.


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 significant  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.

                                       18

<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, 2005.

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

         The Corporation announced a repurchase plan on March 29, 2005 which
         provides for the repurchase of 5% or 495,937 of our common stock. As
         of June 30, 2006, the Corporation had purchased 431,227 shares pursuant
         to the program, leaving 64,710 common shares available for repurchase.
<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, 2006                           59,126               $12.07                144,513
                  May 1-31, 2006                             27,551               $12.04                172,064
                  June 1-30, 2006                            42,955               $12.00                215,019

</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 25,
         2006. Two matters were presented to the shareholders for a vote:
         The shareholders elected two directors by the following votes:

<TABLE>
<CAPTION>
                                                     For                        Against                   Abstain
                 <S>                                <C>                        <C>                       <C>
                  Steven R. Hausfeld                 9,273,318                  126,400                   0
                  Thomas J. Linneman                 9,060,409                  339,309                   0
</TABLE>

                  The shareholders ratified the selection of Grant Thornton LLP
                  as the Company's auditors for the 2006 calendar year by the
                  following vote:


                  For:  9,345,270      Against:  37,848       Abstain:  16,600

                                       19
<PAGE>


                             Cheviot Financial Corp.

                               PART II (CONTINUED)


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

         None.

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.

                                       20
<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 11, 2006               By:  /s/Thomas J. Linneman
       -----------------------             ------------------------------------
                                           Thomas J. Linneman
                                           President and Chief Executive Officer



Date:   August 11, 2006               By:  /s/Scott T. Smith
       ---------------------------         ------------------------------------
                                           Scott T. Smith
                                           Chief Financial Officer

                                       21

<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)) 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.   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

     c.   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 11, 2006         /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)) 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.   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

     c.   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 11, 2006           /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, 2006,  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  11, 2006




<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, 2006,  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 11, 2006