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                March 31, 2005
                                --------------------------------------------

                                       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 an  accelerated  filer (as
defined in Rule 12b-2 of the Exchange Act).

Yes [   ]         No  [X]

As of May 12,  2005,  the  latest  practicable  date,  9,918,751  shares  of the
registrant's common stock, $.01 par value, were issued and outstanding.



<PAGE>




                                      INDEX

                                                                           Page

PART I   -   FINANCIAL INFORMATION

        Consolidated Statements of Financial Condition                        3

        Consolidated Statements of Earnings                                   4

        Consolidated Statements of Cash Flows                                 5

        Notes to Consolidated Financial Statements                            7

        Management's Discussion and Analysis of
        Financial Condition and Results of
        Operations                                                            9

        Quantitative and Qualitative Disclosures about
        Market Risk                                                          12

        Controls and Procedures                                              12

PART II   -   OTHER INFORMATION                                              13

SIGNATURES                                                                   14

                                       2

<PAGE>

                             Cheviot Financial Corp.

                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

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

                                                                                          March 31,        December 31,
         ASSETS                                                                             2005                2004
                                                                                        (Unaudited)

<S>                                                                                      <C>                 <C>
Cash and due from banks                                                                  $    5,331          $    2,836
Federal funds sold                                                                            5,271               4,370
Interest-earning deposits in other financial institutions                                       831                 519
                                                                                         ----------          ----------
         Cash and cash equivalents                                                           11,433               7,725

Investment securities held to maturity - at cost, approximate market value of
  $26,593 and $26,864 at March 31, 2005
  and December 31, 2004, respectively                                                        27,099              27,102
Mortgage-backed securities available for sale - at fair value                                 1,462               1,483
Mortgage-backed securities held to maturity - at cost, approximate
  market value of $27,415 and $29,315 at March 31, 2005
  and December 31, 2004, respectively                                                        27,280              29,204
Loans receivable - net                                                                      203,300             203,842
Real estate acquired through foreclosure - net                                                   -                   90
Office premises and equipment - at depreciated cost                                           2,944               2,947
Federal Home Loan Bank stock - at cost                                                        2,941               2,909
Accrued interest receivable on loans                                                            782                 750
Accrued interest receivable on mortgage-backed securities                                        71                  80
Accrued interest receivable on investments and interest-earning deposits                        220                 219
Bank-owned life insurance                                                                     3,011                  -
Prepaid expenses and other assets                                                               373                 236
                                                                                         ----------          ----------
         Total assets                                                                      $280,916            $276,587
                                                                                         ==========          ==========

         LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits                                                                                   $179,935            $179,989
Advances from the Federal Home Loan Bank                                                     20,690              16,199
Advances by borrowers for taxes and insurance                                                   671               1,014
Accounts payable and other liabilities                                                          616               1,003
Accrued federal income taxes                                                                    232                 127
Deferred federal income taxes                                                                   358                 315
                                                                                         ----------          ----------
         Total liabilities                                                                  202,502             198,647

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 and outstanding at both
    March 31, 2005 and December 31, 2004                                                         99                  99
  Additional paid-in capital                                                                 42,787              42,746
  Retained earnings - restricted                                                             38,745              38,374
  Shares acquired by Employee Stock Ownership Plan                                           (3,214)             (3,273)
  Other comprehensive income, unrealized losses on securities available
    for sale, net of tax effects                                                                 (3)                 (6)
                                                                                         ----------          ----------
         Total shareholders' equity                                                          78,414              77,940
                                                                                         ----------          ----------
         Total liabilities and shareholders' equity                                        $280,916            $276,587
                                                                                         ==========          ==========
</TABLE>

See accompanying notes to consolidated financial statements.

                                        3

<PAGE>

                             Cheviot Financial Corp.

                CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

                      For the three months ended March 31,
                      (In thousands, except per share data)

<TABLE>
<CAPTION>

                                                                                               2005                2004
Interest income
<S>                                                                                          <C>                 <C>
  Loans                                                                                      $2,953              $2,716
  Mortgage-backed securities                                                                    217                 175
  Investment securities                                                                         218                 113
  Interest-earning deposits and other                                                            41                  81
                                                                                            -------             -------
         Total interest income                                                                3,429               3,085

Interest expense
  Deposits                                                                                      865                 844
  Borrowings                                                                                    202                 105
                                                                                            -------             -------
         Total interest expense                                                               1,067                 949
                                                                                            -------             -------
         Net interest income                                                                  2,362               2,136

Other income (expense)
  Gain on sale of loans                                                                           1                  33
  Loss on sale of real estate acquired through foreclosure                                       (6)                 -
  Other operating                                                                                84                  43
                                                                                            -------             -------
         Total other income                                                                      79                  76

General, administrative and other expense
  Employee compensation and benefits                                                            825                 805
  Occupancy and equipment                                                                       116                 111
  Data processing                                                                                59                  66
  Property, payroll and other taxes                                                             169                 171
  Legal and professional                                                                        128                  72
  Advertising                                                                                    44                  39
  Contribution to Charitable Foundation                                                          -                1,500
  Other operating                                                                               135                 108
                                                                                            -------             -------
         Total general, administrative and other expense                                      1,476               2,872
                                                                                            -------             -------

         Earnings (loss) before federal income taxes                                            965                (660)

Federal income taxes
  Current                                                                                       284                 252
  Deferred                                                                                       42                (220)
                                                                                            -------             -------
         Total federal income taxes                                                             326                  32
                                                                                            -------             -------
         NET EARNINGS (LOSS)                                                                $   639             $  (692)
                                                                                            =======             =======
         BASIC EARNINGS (LOSS) PER SHARE                                                    $   .07             $  (.07)
                                                                                            =======             =======
</TABLE>
See accompanying notes to consolidated financial statements.

                                        4

<PAGE>

                             Cheviot Financial Corp.

                CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

                      For the three months ended March 31,
                                 (In thousands)
<TABLE>
<CAPTION>
                                                                                               2005                2004
Cash flows from operating activities:
<S>                                                                                       <C>                 <C>
  Net earnings (loss) for the period                                                      $     639           $    (692)
  Adjustments to reconcile net earnings (loss) to net cash
  provided by (used in) operating activities:
    Amortization of premiums and discounts on investment
      and mortgage-backed securities, net                                                        20                  49
    Depreciation                                                                                 61                  58
    Amortization of deferred loan origination (fees) costs - net                                 (1)                  7
    Proceeds from sale of loans in the secondary market                                          91               1,448
    Loans originated for sale in the secondary market                                           (90)             (1,081)
    Amortization of expense related to ESOP                                                     100                  -
    Gain on sale of loans                                                                        (1)                (33)
    Loss on sale of real estate acquired through foreclosure                                      6                  -
    Federal Home Loan Bank stock dividends                                                      (32)                (28)
    Provision for losses on loans                                                                -                   -
    Increase (decrease) in cash due to changes in:
      Accrued interest receivable on loans                                                      (32)                 (9)
      Accrued interest receivable on mortgage-backed securities                                   9                  (2)
      Accrued interest receivable on investments and interest-earning deposits                   (1)                 46
      Prepaid expenses and other assets                                                        (137)                757
      Accounts payable and other liabilities                                                   (387)               (286)
      Federal income taxes
        Current                                                                                 104                  51
        Deferred                                                                                 42                (220)
                                                                                          ---------            --------
         Net cash provided by operating activities                                              391                  65

Cash flows used in investing activities:
  Principal repayments on loans                                                               9,557               9,584
  Loan disbursements                                                                         (9,014)             (9,226)
  Purchase of U.S. Government and agency obligations                                             -              (16,015)
  Proceeds from maturity of U.S. Government and agency obligations                               -               14,000
  Purchase of mortgage-backed securities                                                         -               (3,933)
  Principal repayments on mortgage-backed securities                                          1,933               1,330
  Proceeds from sale of real estate acquired through foreclosure                                 84                  -
  Purchase of office premises and equipment                                                     (58)                (38)
  Purchase of bank-owned life insurance                                                      (3,000)                 -
  Net increase in cash surrender value of life insurance                                        (11)                 -
                                                                                          ---------             -------
         Net cash used in investing activities                                                 (509)             (4,298)

Cash flows provided by (used in) financing activities:
  Net decrease in deposits                                                                      (54)            (81,117)
  Proceeds from Federal Home Loan Bank advances                                               5,000                  -
  Repayments on Federal Home Loan Bank advances                                                (509)               (359)
  Advances by borrowers for taxes and insurance                                                (343)               (336)
  Net proceeds from issuance of common stock                                                     -               39,274
  Dividends paid on common stock                                                               (268)               (223)
                                                                                           --------            --------
         Net cash provided by (used in) financing activities                                  3,826             (42,761)
                                                                                           --------            --------

Net increase (decrease) in cash and cash equivalents                                          3,708             (46,994)
Cash and cash equivalents at beginning of period                                              7,725              83,776
                                                                                           --------             -------
Cash and cash equivalents at end of period                                                  $11,433             $36,782
                                                                                            =======             =======
</TABLE>

                                       5
<PAGE>

                             Cheviot Financial Corp.

          CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)(CONTINUED)

                      For the three months ended March 31,
                                 (In thousands)

<TABLE>
<CAPTION>

                                                                                               2005                2004

Supplemental disclosure of cash flow information: Cash paid during the period
  for:
<S>                                                                                         <C>                    <C>
    Federal income taxes                                                                    $   200              $  200
                                                                                            =======              ======

    Interest on deposits and borrowings                                                     $ 1,067              $  949
                                                                                            =======              ======

Supplemental disclosure of non-cash investing activities:
  Recognition of mortgage servicing rights in
   accordance with SFAS No. 140                                                             $     1              $   11
                                                                                            =======              =======
</TABLE>

See accompanying notes to consolidated financial statements.
                                       6

<PAGE>


                             Cheviot Financial Corp.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

               For the three months ended March 31, 2005 and 2004

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 the  Savings  Bank's
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, 2004. 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
month period ended March 31, 2005, is 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
months ended March 31, 2005,  include the  accounts of the  Corporation  and its
wholly-owned  subsidiary,  the Savings Bank. All significant  intercompany items
have been eliminated.

3.   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  totaled
9,597,383 for the three month period ended March 31, 2005, which gives effect to
321,368  unallocated ESOP shares and 35,707 allocated ESOP shares. For the three
months ended March 31, 2004,  weighted-average shares deemed outstanding totaled
9,561,681, which gives effect to 357,075 unallocated ESOP shares.

Diluted earnings per share is computed taking into  consideration  common shares
outstanding and dilutive potential common share equivalents. The Corporation had
no dilutive or  potentially  dilutive  securities  during the three month period
ended March 31, 2005.

                                       7

<PAGE>

                             Cheviot Financial Corp.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

               For the three months ended March 31, 2005 and 2004

4.   Effects of Recent Accounting Pronouncements

In December 2004, the Financial Accounting Standards Board (the "FASB") issued a
revision to Statement of Financial  Accounting  Standards ("SFAS") No. 123 which
establishes  standards for the  accounting for  transactions  in which an entity
exchanges its equity instruments for goods or services,  primarily on accounting
for  transactions  in which an entity obtains  employee  services in share-based
transactions. This Statement, SFAS No. 123 (R) "Share-Based Payment", requires a
public entity to measure the cost of employee  services received in exchange for
an award of equity  instruments based on the grant-date fair value of the award,
with limited  exceptions.  That cost will be  recognized  over the period during
which an employee is  required to provide  services in exchange  for the award -
the requisite  service  period.  No  compensation  cost is recognized for equity
instruments  for which employees do not render the requisite  service.  Employee
share  purchase plans will not result in  recognition  of  compensation  cost if
certain conditions are met.

Initially,  the cost of employee  services  received in exchange for an award of
liability  instruments  will be measured  based on current fair value;  the fair
value of that award  will be  remeasured  subsequently  at each  reporting  date
through the settlement date.  Changes in fair value during the requisite service
period will be recognized as compensation cost over that period.  The grant-date
fair value of employee share options and similar  instruments  will be estimated
using  option-pricing  models adjusted for the unique  characteristics  of those
instruments (unless observable market prices for the same or similar instruments
are available). If an equity award is modified after the grant date, incremental
compensation  cost will be  recognized  in an amount  equal to the excess of the
fair  value of the  modified  award over the fair  value of the  original  award
immediately before the modification.

Excess tax benefits, as defined by SFAS 123(R) will be recognized as an addition
to  additional  paid in capital.  Cash  retained as a result of those excess tax
benefits  will be  presented in the  statement  of cash flows as financing  cash
inflows.  The  write-off  of  deferred  tax assets  relating to  unrealized  tax
benefits  associated  with  recognized  compensation  cost will be recognized as
income tax expense  unless there are excess tax benefits  from  previous  awards
remaining in additional paid in capital to which it can be offset.

Cheviot Financial's shareholders approved a stock incentive plan (the "Plan") at
the  Corporation's  Annual Meeting held on April 26, 2005. The Plan provides for
the  award of  restricted  stock and  options  to  purchase  common  stock.  The
Corporation  will  recognize  compensation  costs pursuant to SFAS No. 123(R) in
calendar  2006 to the extent  SFAS No. 123 (R) is  implemented  and  options are
granted under the plan.

                                       8

<PAGE>

                             Cheviot Financial Corp.

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

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

This  quarterly  report  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 from December 31, 2004 to March 31,
2005
--------------------------------------------------------------------------------

Total assets  increased  $4.3 million,  or 1.6%, to $280.9  million at March 31,
2005,  from $276.6 million at December 31, 2004. The increase in total assets is
primarily due to the purchase of the  bank-owned  life  insurance  totaling $3.0
million during the three month period ended March 31, 2005, as well as increases
in cash,  federal  funds  and  interest-earning  deposits,  partially  offset by
decreases in mortgage-backed securities and loans.

Cash,  federal  funds  sold and  interest-earning  deposits  in other  financial
institutions  increased  $3.7 million,  or 48.0%,  to $11.4 million at March 31,
2005, from the $7.7 million total at December 31, 2004. The increase in cash and
cash  equivalents  was due to a $901,000  increase  in  federal  funds  sold,  a
$312,000 increase in interest-earning  deposits and an increase in cash and cash
due from  banks of $2.5  million  or 88.0% to $5.3  million  at March 31,  2005.
Investment  securities decreased $3,000, or 0.01%, to $27.1 million at March 31,
2005. All investment securities are classified as held to maturity.

Mortgage-backed  securities decreased $1.9 million, or 6.3%, to $28.7 million at
March 31,  2005,  from $30.7  million at  December  31,  2004.  The  decrease in
mortgage-backed  securities  was due  primarily  to  principal  prepayments  and
repayments   totaling  $1.9  million.  At  March  31,  2005,  $27.3  million  of
mortgage-backed  securities  were  classified  as held to  maturity,  while $1.5
million were classified as available for sale. Since March 2004,  management has
focused on shorter term  investments  primarily in an effort to further  enhance
the Corporation's positive interest rate risk position.

Loans  receivable  decreased  $542,000,  or 0.3%, to $203.3 million at March 31,
2005, from $203.8 million at December 31, 2004. The decrease  resulted from loan
principal   repayments   totaling  $9.6  million,   partially   offset  by  loan
originations of $9.1 million and sales of $90,000.

The  allowance for loan losses  totaled  $732,000 at March 31, 2005 and December
31, 2004,  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.
The analysis  resulted in no additional  provision to the allowance at March 31,
2005.

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
additional provision for loss for the quarter ended March 31, 2005. 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 March 31, 2005.

                                       9
<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, 2004 to March 31,
2005 (continued)
-------------------------------------------------------------------------------

Non-performing  and impaired  loans  totaled  $235,000 and $251,000 at March 31,
2005 and December 31, 2004, respectively.  At March 31, 2005, non-performing and
impaired loans were comprised of loans secured by one-to four-family residential
real estate totaling $141,000 and  nonresidential  real estate totaling $94,000.
The allowance for loan losses  represented  311.5% and 291.6% of  non-performing
and  impaired  loans at March 31,  2005 and  December  31,  2004,  respectively.
Although  management  believes that its 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 decreased $54,000,  or 0.03%, to $179.9 million at March 31, 2005, from
$180.0 million at December 31, 2004. Advances from the Federal Home Loan Bank of
Cincinnati  increased by $4.5 million,  or 27.7%,  to $20.7 million at March 31,
2005,  from $16.2 million at December 31, 2004. The increase in advances was due
primarily to proceeds  from new advances of $5.0  million,  which was  partially
offset by $509,000 in repayments.

Shareholders' equity increased $474,000,  or 0.6%, to $78.4 million at March 31,
2005,  from $77.9 million at December 31, 2004.  The increase  resulted from net
earnings during the period of $639,000 and amortization of ESOP expense totaling
$100,000, which were partially offset by dividends paid of $268,000.

Cheviot Savings Bank is required to maintain minimum regulatory capital pursuant
to federal regulations. At March 31, 2005, the Savings Bank's regulatory capital
substantially exceeded all minimum regulatory capital requirements.


Comparison of Operating Results for the Three-Month Periods Ended March 31, 2005
and 2004
--------------------------------------------------------------------------------

General
--------

Net earnings for the three months ended March 31, 2005 totaled $639,000,  a $1.3
million  increase  from the $692,000 net loss reported in the March 2004 period.
The  increase in net  earnings  reflects  $1.4  million  decrease in general and
administrative  expenses  in 2005 as a result of the  absence of a $1.5  million
contribution  to the Cheviot  Savings Bank  Charitable  Foundation  in 2004.  In
addition,  net interest income  increased by $226,000 and other income increased
by $3,000,  which were partially offset by a $294,000 increase in federal income
taxes for the 2005 quarter.

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

Total interest  income  increased  $344,000,  or 11.2%,  to $3.4 million for the
three-months ended March 31, 2005, from the comparable quarter in 2004. Interest
income on loans  increased  $237,000,  or 8.7%, to $3.0 million  during the 2005
period,  from $2.7 million for the 2004 period.  This increase was due primarily
to a  $15.2  million,  or  8.1%,  increase  in  the  average  balance  of  loans
outstanding,  and a 4 basis  point  increase  in the  weighted-average  yield on
loans,  to 5.83% for 2005  quarter  from 5.79 % for the three months ended March
31, 2004.

                                       10

<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 March 31, 2005
and 2004 (continued)
--------------------------------------------------------------------------------

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

Interest income on mortgage-backed  securities  increased $42,000,  or 24.0%, to
$217,000 for the three months ended March 31, 2005,  from  $175,000 for the 2004
quarter,  due primarily to a $3.6 million  increase in the balance of securities
outstanding,  and a 23 basis point  increase in the average  yield year to year.
Interest  income on  investment  securities  increased  $105,000,  or 92.9%,  to
$218,000 for the three months ended March 31, 2005, compared to $113,000 for the
same quarter in 2004, due primarily to a 142 basis point increase in the average
yield to 2.90% in the 2005 quarter, which was partially offset by a $428,000, or
1.4%  decrease  in the average  balance of  investment  securities  outstanding.
Interest income on other interest-earning  deposits decreased $40,000, or 49.4%,
to $41,000 for the three months ended March 31, 2005,  due  primarily to a $20.5
million decrease in the average balance of interest-earning  deposits,  compared
to the same period in 2004,  partially  offset by a 151 basis point  increase in
the weighted-average yield, to 2.73% for the three months ended March 31, 2005.

Interest  expense  increased  $118,000,  or 12.4%, to $1.1 million for the three
months ended March 31, 2005, from $949,000 for the same period in 2004. Interest
expense on deposits increased by $21,000, or 2.5%, to $865,000 from $844,000 due
primarily to a $10.3 million, or 5.5%, decline in the  weighted-average  balance
outstanding,  which was  partially  offset by a 16 basis  point  increase in the
weighted average costs of deposits to 1.96% in the 2005 period. Interest expense
on borrowings  increased by $97,000,  or 92.4%, due primarily to a $9.2 million,
or 102.9%,  increase in the average  balance  outstanding,  which was  partially
offset by a 24 basis  point  decline  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
March 2005 quarter.

As a result of the foregoing  changes in interest  income and interest  expense,
net interest  income  increased by $226,000,  or 10.6%,  to $2.4 million for the
three months ended March 31, 2005,  from $2.1 million for the comparable  period
ended March 31, 2004.  The average  interest rate spread  increased to 2.96% for
the three  months  ended  March 31, 2005 from 2.66% for the three  months  ended
March 31, 2004. The net interest margin  increased to 3.54% for the three months
ended March 31, 2005 from 3.18% for the three months ended March 31, 2004.

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
collectibility of the Savings Bank's loan portfolio,  management  concluded that
the allowance for loan losses was adequate, and therefore, elected not to record
a provision  for losses on loans for the  three-months  ended March 31, 2005 and
2004.  There can be no assurance that the loan loss allowance will be sufficient
to cover losses on nonperforming loans in the future.

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

Other income  increased  $3,000,  or 3.9%, to $79,000 for the three months ended
March 31,  2005,  compared  to the same  quarter in 2004,  due  primarily  to an
increase  in other  operating  income of $41,000,  or 95.3%,  to $84,000 for the
three months ended March 31, 2005 from $43,000 for the prior  period,  which was
partially offset by a decrease in the gain on sale of loans of $32,000, or 97.0%
and an increase in the loss on sale of real estate acquired through  foreclosure
of $6,000.

                                       11

<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 March 31, 2005
and 2004 (continued)
--------------------------------------------------------------------------------

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

General,  administrative and other expense decreased $1.4 million,  or 48.6%, to
$1.5 million for the three  months  ended March 31, 2005,  from $2.9 million for
the  comparable  quarter in 2004.  This  decrease is a result of a $1.5  million
expense  recorded  during  the  first  quarter  of 2004 in  connection  with the
Corporation's  contribution to the Cheviot  Savings Bank Charitable  Foundation.
This decrease was partially offset by an increase of $56,000,  or 77.8% in legal
and professional  expenses,  an increase of $27,000, or 25.0% in other operating
expense  and an  increase  of  $20,000,  or 2.5% in  employee  compensation  and
benefits.  The increase in legal and  professional  expense was due primarily to
expenses  associated  with the reporting  requirements  of a public  company and
professional  services  in  connection  with the  implementation  and  design of
Sarbanes-Oxley  audit documentation.  The increase in employee  compensation and
benefits is due primarily to an increase in contributions to the retirement plan
and an increase in the number of employees as a result of the Company's growth.

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

The  provision  for federal  income  taxes  increased  $294,000,  or 918.8%,  to
$326,000 for the three  months  ended March 31, 2005,  from $32,000 for the same
quarter in 2004, due primarily to a $1.6 million, or 246.2%, increase in pre-tax
earnings.  The  effective  tax rate was 33.8% for the three month  period  ended
March 31, 2005.  The federal  income tax provision for the 2004 quarter  totaled
$32,000 on a pre-tax loss of $660,000. The difference between the 2004 provision
and the tax benefits  refundable at the statutory  rate results the inability to
fully utilize contributions to the Cheviot Savings Bank Foundation.

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, 2004.

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.

                                       12

<PAGE>

                             Cheviot Financial Corp.

                                     PART II

ITEM 1.   Legal Proceedings

          Not applicable

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. This
          program  provides for the  repurchase of 5%, or 495,937  shares of our
          common  stock.   As  of  March  31,  2005,  the  Corporation  had  not
          repurchased any shares.

ITEM 3.   Defaults Upon Senior Securities

          Not applicable

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

          Not applicable

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.
                                       13

<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:   May 12, 2005                   By:/s/ Thomas J. Linneman
       ---------------                    ---------------------------
                                          Thomas J. Linneman
                                          President and Chief Executive Officer



Date:   May 12, 2005                   By:/s/ Scott T. Smith
       ---------------                    ----------------------------------
                                          Scott T. Smith
                                          Chief Financial Officer

                                       14




<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,  President and Chief  Executive  Officer of Cheviot
Financial Corp., 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:  May 12, 2005                       /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,  Chief  Financial  Officer of Cheviot  Financial  Corp.,
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:  May 12, 2005                            /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 March 31, 2005, 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:  May 12, 2005




<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 March 31, 2005, 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:  May 12, 2005