SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                   FORM 10-QSB
(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, 2004.

                                       OR

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


Commission File Number:    0-25180

                                CKF Bancorp, Inc.
        ----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

    Delaware                                                 61-1267810
------------------                                      ---------------------
(State or other jurisdiction of                           (I.R.S. Employer
  incorporation or organization)                         Identification No.)

340 West Main Street, Danville, Kentucky                        40422
----------------------------------------                ------------------------
(Address of principal executive offices)                      (Zip Code)

Issuer's telephone number, including area code:      (859) 236-4181
                                                     --------------

Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirement for the past 90 days.

Yes      X                 No
   ---------------           ---------------

As of May 13, 2004, 1,470,374 shares of the registrant's common stock were
issued and outstanding.

Transitional Small Business Disclosure Format:  Yes               No      X
                                                    ------------     -----------



<PAGE>

                                    CONTENTS


PART I.       FINANCIAL INFORMATION

Item 1.       Financial Statements
<TABLE>
<CAPTION>
                  <S>                                                                                         <C>
              Consolidated Balance Sheets as of March 31, 2004 (unaudited) and
                  December 31, 2003............................................................................3

              Consolidated Statements of Income for the Three-Month Periods Ended
                  March 31, 2004 and 2003 (unaudited)..........................................................4

              Consolidated Statement of Changes in Stockholders' Equity for the
                  Three-Month Periods Ended March 31, 2004 and 2003 (unaudited)................................5

              Consolidated Statements of Cash Flows for the Three-Month Periods Ended
                  March 31, 2004 and 2003 (unaudited)..........................................................6

              Notes to Consolidated Financial Statements.......................................................8

Item 2.       Management's Discussion and Analysis of Financial Condition and
                  Results of Operations.......................................................................10

Item 3.       Controls and Procedures.........................................................................14



PART II.      OTHER INFORMATION

Item 1.       Legal Proceedings...............................................................................15
Item 2.       Changes in Securities, Use of Proceeds, and Issuer Purchases of Equity Securities...............15
Item 3.       Defaults Upon Senior Securities.................................................................15
Item 4.       Submission of Matters to a Vote of Security Holders.............................................15
Item 5.       Other Information...............................................................................15
Item 6.       Exhibits and Reports on Form 8-K................................................................15

SIGNATURES....................................................................................................16
</TABLE>


<PAGE>

                        CKF BANCORP, INC. AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>

                                                                               AS OF                 AS OF
                                                                             MARCH 31,         DECEMBER 31,
                                                                               2004                  2003
                                                                         ---------------       ---------------
<S>                                                                             <C>                  <C>
                                                                            (Unaudited)
ASSETS

Cash and due from banks                                                  $     1,253,311       $     1,121,357
Interest bearing deposits                                                      3,666,759             2,671,433
                                                                         ---------------       ---------------
       Cash and cash equivalents                                               4,920,070             3,792,790
Investment securities:
   Securities available-for-sale                                               1,954,598             1,930,421
   Securities held-to-maturity (market values of $7,701,344 at
     March 31, 2004 and of $8,330,782 at December 31, 2003)                    7,668,420             8,333,409
Federal Home Loan Bank stock, at cost                                          1,750,100             1,732,900
Loans receivable                                                             127,617,642           125,774,932
Allowance for loan losses                                                       (618,623)             (615,089)
Accrued interest receivable                                                      745,806               731,281
Real estate owned                                                                 52,053               131,390
Office property and equipment, net                                             1,914,414             1,925,300
Goodwill                                                                       1,099,588             1,099,588
Other assets                                                                     185,647               147,046
                                                                         ---------------       ---------------

       Total assets                                                      $   147,289,715       $   144,983,968
                                                                         ===============       ===============

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits                                                                 $   122,793,689       $   121,689,009
Advances from Federal Home Loan Bank                                           7,734,159             6,899,835
Accrued interest payable                                                          34,713                23,672
Advance payment by borrowers for taxes and insurance                              76,120                44,839
Accrued federal income tax                                                       270,400                75,931
Deferred federal income tax                                                      751,225               750,904
Other liabilities                                                                436,653               431,999
                                                                         ---------------       ---------------

     Total liabilities                                                       132,096,959           129,916,189
                                                                         ---------------       ---------------

Commitments and contingencies                                                         --                    --
                                                                         ---------------       ---------------

Preferred stock, 100,000 shares, authorized and unissued Common stock, $.01 par
value, 4,000,000 shares authorized;
   1,470,374 and 1,471,686 issued and outstanding, respectively                   10,000                10,000
Additional paid-in capital                                                     9,562,522             9,533,759
Retained earnings, substantially restricted                                   10,541,498            10,453,207
Accumulated other comprehensive income                                           190,404               174,447
Treasury stock, 529,626 and 528,314 shares, respectively, at cost             (4,375,315)           (4,354,309)
Incentive Plan Trust, 44,900 shares, at cost                                    (437,999)             (437,999)
Unearned Employee Stock Ownership Plan (ESOP) stock                             (298,354)             (311,326)
                                                                         ----------------      ---------------

     Total stockholders' equity                                               15,192,756            15,067,779
                                                                         ---------------       ---------------

     Total liabilities and stockholders' equity                          $   147,289,715       $   144,983,968
                                                                         ===============       ===============
</TABLE>

          See accompanying notes to consolidated financial statements.

                                       3
<PAGE>

                        CKF BANCORP, INC. AND SUBSIDIARY
                        CONSOLIDATED STATEMENTS OF INCOME
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                FOR THE THREE-MONTH PERIODS
                                                                                        ENDED MARCH 31
                                                                                    2004              2003
                                                                                -------------    -------------
<S>                                                                                  <C>              <C>
Interest and dividend income:
   Interest on loans                                                            $   1,972,672    $   2,025,815
   Interest and dividends on investments                                               94,078           46,009
   Other interest income                                                                5,239           34,267
                                                                                -------------    -------------
      Total interest and dividend income                                            2,071,989        2,106,091
                                                                                -------------    -------------

Interest expense:
   Interest on deposits                                                               785,549        1,006,861
   Interest on advances from the FHLB                                                  53,158           70,593
                                                                                -------------    -------------
      Total interest expense                                                          838,707        1,077,454
                                                                                -------------    -------------

Net interest income                                                                 1,233,282        1,028,637
   Provision for loan losses                                                           15,000           30,000
                                                                                -------------    -------------
      Net interest income after
        provision for loan losses                                                   1,218,282          998,637
                                                                                -------------    -------------

Non-interest income:
   Loan and other service fees                                                         44,102           46,731
   Gain, net on foreclosed real estate                                                  2,443              817
   Other non-interest income, net                                                       4,625              268
                                                                                -------------    -------------
      Total non-interest income                                                        51,170           47,816
                                                                                -------------    -------------

Non-interest expense:
   Compensation and employee benefits                                                 365,112          294,761
   Occupancy and equipment expense, net                                                57,323           55,056
   Data processing                                                                     70,177           60,969
   Legal and other professional fees                                                   25,370           11,948
   State franchise tax                                                                 32,889           35,608
   Other non-interest expense                                                          90,432           83,120
                                                                                -------------    -------------
      Total non-interest expense                                                      641,303          541,462
                                                                                -------------    -------------

Income before income tax expense                                                      628,149          504,991

Provision for income taxes                                                            212,363          170,318
                                                                                -------------    -------------

Net income                                                                      $     415,786    $     334,673
                                                                                =============    =============

Basic earnings per common share                                                 $        .30     $         .25
                                                                                ============     =============

Diluted earnings per common share                                               $        .30     $         .25
                                                                                ============     =============

Weighted average common shares
   outstanding during the period                                                    1,364,996        1,336,156
                                                                                =============    =============

Weighted average common shares
   outstanding after dilutive effect                                                1,398,644        1,357,918
                                                                                =============    =============
</TABLE>

          See accompanying notes to consolidated financial statements.

                                       4
<PAGE>

                        CKF BANCORP, INC. AND SUBSIDIARY
            CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
            For the Three-Month Periods Ended March 31, 2004 and 2003
                                   (unaudited)
<TABLE>
<CAPTION>

                                                                          ACCUMULATED
                                                ADDITIONAL                   OTHER                   INCENTIVE    UNEARNED
                                     COMMON       PAID-IN      RETAINED  COMPREHENSIVE    TREASURY     PLAN         ESOP
                                      STOCK       CAPITAL      EARNINGS      INCOME         STOCK     TRUST        SHARES
                                    ----------  ------------ ----------  ------------- ------------  -----------  -----------
<S>                                     <C>        <C>            <C>         <C>           <C>           <C>        <C>
Balance, December 31, 2002           $ 10,000   $ 9,531,454  $ 9,564,805  $ 190,189    $ (4,354,309)  $ (665,291) $ (363,214)

Comprehensive income:
  Net income                                                     334,673
  Other  comprehensive  loss,  net
  of tax:                                                                  (128,303)

    Decrease in  unrealized  gains
      on securities
      Total comprehensive income

Dividend    declared   ($.20   per                              (267,209)
share)

ESOP shares release accrual                          12,960                                                           12,972

Issued  under  stock  option  plan
shares                                              (16,601)                                              50,726
                                     --------   -----------  -----------  ---------    ------------   ----------  ----------
Balance, March  31, 2003             $ 10,000   $ 9,527,813  $ 9,632,269  $  61,886    $ (4,354,309)  $ (614,565) $ (350,242)
                                     ========   ===========  ===========  =========    =============  =========== ===========



Balance, December 31, 2003           $ 10,000   $ 9,533,759  $10,453,207  $ 174,447    $ (4,354,309) $  (437,999) $ (311,326)

Comprehensive income:
  Net income                                                     415,786
  Other  comprehensive  loss,  net
   of tax:
    Increase in  unrealized  gains
     on securities                                                           15,957
      Total comprehensive income

Dividend    declared   ($.24   per                              (327,495)
share)

ESOP shares release accrual                          28,763                                                            12,972

Purchase of common stock                                                                    (21,006)
                                     --------   -----------  -----------  ---------    ------------   ----------  ----------

Balance, March 31, 2004              $ 10,000   $ 9,562,522 $ 10,541,498 $  190,404    $ (4,375,315) $  (437,999) $ (298,354)
                                     ========   =========== ============ ==========    ============= ============ ===========
<CAPTION>

                                          TOTAL
                                      STOCKHOLDERS'
                                         EQUITY
                                      -------------
                <S>                      <C>
Balance, December 31, 2002            $ 13,913,634

Comprehensive income:
  Net income                               334,673
  Other  comprehensive  loss, net
  of tax:                                 (128,303)
                                         ---------
    Decrease in  unrealized  gain
      on securities
      Total comprehensive income           206,370

Dividend    declared   ($.20  per         (267,209)
share)

ESOP shares release accrual                 25,932

Issued  under  stock  option  plan
shares                                      34,125
                                      ------------
Balance, March  31, 2003              $ 13,912,852
                                      ============



Balance, December 31, 2003            $ 15,067,779

Comprehensive income:
  Net income                               415,786
  Other  comprehensive  loss,  net
   of tax:
    Increase in  unrealized  gain
     on securities                          15,957
                                      ------------
      Total comprehensive income           431,743

Dividend    declared   ($.24   per        (327,495)
share)

ESOP shares release accrual                 41,735

Purchase of common stock                   (21,006)
                                      ------------
Balance, March 31, 2004               $ 15,192,756
                                      ============



</TABLE>


          See accompanying notes to consolidated financial statements.

                                       5
<PAGE>
                        CKF BANCORP, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                                                  FOR THE THREE-MONTH PERIODS
                                                                                        ENDED MARCH 31
                                                                                ------------------------------
                                                                                    2004              2003
                                                                                -------------    -------------
<S>                                                                                  <C>                <C>
Cash flows from operating activities:
  Net income                                                                     $    415,786     $    334,673
  Adjustments to reconcile net income to net cash provided
    by operating activities:
     Amortization of premiums, net on securities                                        9,340            1,681
     Federal Home Loan Bank stock dividends                                           (17,200)         (16,400)
     Amortization of premiums on loans                                                 15,093           20,088
     Accretion of deferred loan origination fees                                       (3,209)          (3,362)
     Provision for losses on loans                                                     15,000           30,000
     ESOP benefit expense                                                              41,735           25,932
     Depreciation expense                                                              33,999           36,123
     Amortization of premiums on deposits and FHLB advances                           (24,944)         (40,092)
     Loss, net on sale of real estate owned                                               106               --
     Deferred income tax benefit                                                       (7,899)         (28,067)
     Increase (decrease) in cash due to changes in:
      Accrued interest receivable                                                     (14,525)          61,281
      Other assets                                                                    (38,601)         (27,646)
      Accrued interest payable                                                         11,041           14,881
      Other liabilities                                                                 4,654          (69,928)
      Current federal income taxes                                                    194,469          165,300
                                                                                -------------     ------------
        Net cash provided by operating activities                                     634,845          504,464
                                                                                -------------     ------------

Cash flows from investing activities:
  Proceeds from maturity of government agency bonds held-to-maturity                  500,000               --
  Repayments on mortgage backed securities held-to-maturity                           155,649           13,648
  Net (increase) decrease in loans                                                 (1,816,981)       6,284,764
  Purchase of office property and equipment                                           (23,113)          (8,739)
  Proceeds from sale of (additions to) real estate owned                               30,152           (1,402)
                                                                                -------------     ------------
        Net cash provided (used) by investing activities                           (1,154,293)       6,288,271
                                                                                -------------     ------------

Cash flows from financing activities:
  Net increase in deposit accounts                                                  1,898,998        1,693,065
  Net decrease in certificates of deposit                                            (772,468)      (1,365,838)
  Proceeds from Federal Home Loan Bank advances                                     2,000,000               --
  Repayments on Federal Home Loan Bank advances                                    (1,162,582)        (659,715)
  Net increase in custodial accounts                                                   31,281           38,617
  Proceeds from the exercise of stock options                                              --           34,125
  Purchase of treasury stock                                                          (21,006)              --
  Payment of dividends to stockholders                                               (327,495)        (267,209)
                                                                                --------------    ------------
        Net cash provided (used) by financing activities                            1,646,728         (526,955)
                                                                                -------------     ------------

Increase in cash and cash equivalents                                               1,127,280        6,265,780

Cash and cash equivalents, beginning of period                                      3,792,790       13,717,142
                                                                                -------------     ------------

Cash and cash equivalents, end of period                                        $   4,920,070     $ 19,982,922
                                                                                =============     ============
</TABLE>

                                   (continued)
                                       6
<PAGE>
                        CKF BANCORP, INC. AND SUBSIDIARY
                CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                  FOR THE THREE-MONTH PERIODS
                                                                                        ENDED MARCH 31
                                                                                ------------------------------
                                                                                    2004              2003
                                                                                -------------    -------------
<S>                                                                                  <C>                <C>

Supplemental disclosures of cash flows information:
  Cash paid for federal income taxes                                            $      25,793     $     33,085
  Cash paid for interest on deposits and FHLB advances                          $     852,610     $  1,102,665

Supplemental disclosures of non-cash activities:
  Real estate owned acquired by foreclosure                                     $      80,912     $         --
  Loans originated to finance sale of foreclosed real estate                    $     129,991     $         --
  Increase (decrease) in unrealized gains, gross on available-for-sale
   securities                                                                   $      24,177     $   (194,399)
</TABLE>


           See accompanying notes to consolidated financial statements


                                       7
<PAGE>
                        CKF Bancorp, Inc. and Subsidiary
                   Notes to Consolidated Financial Statements


1.   BASIS OF PRESENTATION

     CKF  Bancorp,  Inc.  (the  "Company")  was  formed  in  August  1994 at the
     direction of Central  Kentucky  Federal Savings Bank (the "Bank") to become
     the holding company of the Bank upon the conversion of the Bank from mutual
     to stock  form (the  "Conversion").  Since the  Conversion,  the  Company's
     primary assets have been the outstanding capital stock of the Bank, cash on
     deposit with the Bank, and a note  receivable  from the Company's  Employee
     Stock  Ownership Plan ("ESOP"),  and its sole business is that of the Bank.
     Accordingly,  the consolidated  financial statements and discussions herein
     include  both the Company  and the Bank.  On December  29,  1994,  the Bank
     converted  from mutual to stock form as a wholly  owned  subsidiary  of the
     Company.  In conjunction with the Conversion,  the Company issued 1,000,000
     shares of its common stock to the public.

     The  accompanying  unaudited  consolidated  financial  statements have been
     prepared in accordance with accounting principles generally accepted in the
     United States of America  ("GAAP") for interim  financial  information  and
     with the  instructions  to Form  10-QSB and Article 10 of  Regulation  S-X.
     Accordingly,  they do not  include  all of the  information  and  footnotes
     required  by GAAP for  complete  financial  statements.  In the  opinion of
     management,  all adjustments (consisting of only normal recurring accruals)
     necessary  for  fair  presentation  have  been  included.  The  results  of
     operations  and other data for the three month  period ended March 31, 2004
     are not  necessarily  indicative  of results  that may be expected  for the
     fiscal year ending December 31, 2004. The consolidated balance sheet of the
     Company,  as of  December  31,  2003,  has been  derived  from the  audited
     consolidated balance sheet of the Company as of that date.


2.   REGULATORY CAPITAL

     The Bank's actual capital and its statutory  required capital levels are as
follows (in thousands):
<TABLE>
<CAPTION>

                                                                March 31, 2004
                             ---------------------------------------------------------------------------------
                                                               For Capital                 To be Well
                                                            Adequacy Purposes           Capitalized Under
                                                                                        Prompt Corrective
                                                                                        Action Provisions
                             -------------------------   -------------------------  --------------------------
                                       Actual                    Required                    Required
                             -------------------------   -------------------------  --------------------------
                                Amount        %             Amount        %            Amount         %
                             -------------------------   -------------------------  --------------------------
<S>                             <C>           <C>            <C>          <C>           <C>          <C>
Core capital                  $  12,970     8.89%         $    5,834    4.00%        $    8,752     6.00%
Tangible capital                 12,970     8.89%              5,834    4.00%               n/a      n/a
Total Risk based capital         13,779    15.04%              7,329    8.00%             9,162    10.00%
Tier 1 Risk based capital        12,970    14.16%                n/a     n/a              4,581     5.00%
</TABLE>

3.   DIVIDENDS

     A cash  dividend of $.24 per share was paid by the Company on February  10,
     2004 to  stockholders of record as of January 28, 2004. The total dividends
     paid by the Company  during the three months ended March 31, 2004  amounted
     to $327,495.

                                       8
<PAGE>

4.   COMMON STOCK

     The Company  purchased  1,312  shares of treasury  stock at a total cost of
     $21,006 during the three months ended March 31, 2004.

5.   EARNINGS PER SHARE

     The following table reflects the calculation of basic and diluted  earnings
     per common share:
<TABLE>
<CAPTION>

                                                                                      FOR THE THREE-MONTH PERIODS
                                                                                              ENDED MARCH 31
                                                                                           2004             2003
                                                                                      -------------     -------------
                <S>                                                                        <C>              <C>
         Basic earnings per share
          Net income                                                                   $    415,786      $    334,673
                                                                                       ============      ============
          Weighted average shares outstanding                                             1,364,996         1,336,156
                                                                                       ============      ============
          Basic earnings per share                                                     $        .30      $        .25
                                                                                       ============      ============

         Diluted earnings per share
          Net income                                                                   $    415,786      $    334,673
                                                                                       ============      ============
          Weighted average shares outstanding                                             1,364,996         1,336,156
          Diluted effect of stock option                                                     33,648            21,762
                                                                                       ------------      ------------
          Weighted average shares outstanding
              after dilutive effect                                                       1,398,644         1,357,918
                                                                                       ============      ============
          Diluted earnings per share                                                   $        .30      $        .25
                                                                                       ============      ============
</TABLE>

6.   STOCK OPTIONS

     At March 31, 2004, the Company has stock-based compensation plans which are
     described  more  fully in the  notes to the  Company's  December  31,  2003
     audited  financial  statements  contained in the Company's Annual Report on
     Form 10-KSB.  The Company  accounts for the plan under the  recognition and
     measurement  principles  of  Accounting  Principals  Board  Opinion  No 25,
     Accounting for Stock Issued to Employees, and related  Interpretations.  No
     stock-based  employee  compensation cost is reflected in net income, as all
     options  granted under those plans had an exercise  price that was equal to
     or greater to the market value of the underlying  common stock on the grant
     date. The following table illustrates the effect on net income and earnings
     per share if the Company had applied  fair value  provisions  of  Financial
     Accounting  Standards  Board  Statement  123,  Accounting  for Stock -Based
     Compensation, to stock based employee compensation.
<TABLE>
<CAPTION>

                                                                                      FOR THE THREE-MONTH PERIODS
                                                                                              ENDED MARCH 31
                                                                                           2004             2003
                                                                                      -------------     -------------
            <S>                                                                         <C>                  <C>
         Net income as reported                                                        $    415,786      $    334,673
         Less:  Total stock-based compensation
          determined under the fair value method                                              1,066               865
                                                                                       ------------      ------------
         Pro forma net income                                                          $    414,720      $    333,808
                                                                                       ============      ============

         Basic earnings per share - as reported                                             $   .30          $    .25
         Basic earnings per share - pro forma                                               $   .30          $    .25
         Diluted earnings per share - as reported                                           $   .30          $    .25
         Diluted earnings per share - pro forma                                             $   .30          $    .25
</TABLE>

                                       9
<PAGE>

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


FORWARD-LOOKING STATEMENTS

When used in this  Quarterly  Report on Form 10-QSB,  the words or phrases "will
likely   result,"  "are  expected  to,"  "will   continue,"  "is   anticipated,"
"estimate,"   "project,"  or  similar   expressions  are  intended  to  identify
"forward-looking  statements"  within  the  meaning  of the  Private  Securities
Litigation  Reform Act of 1995. Such statements are subject to certain risks and
uncertainties  including changes in economic  conditions in the Company's market
area,  changes in  policies by  regulatory  agencies,  fluctuations  in interest
rates, demand for loans in the Company's market area, and competition that could
cause actual results to differ  materially  from  historical  earnings and those
presently  anticipated and projected.  The Company wishes to caution readers not
to place undue reliance on any such forward-looking statements, which speak only
as of the date made.

The Company does not undertake,  and specifically  disclaims any obligation,  to
publicly  release  the  result  of  any  revisions  which  may  be  made  to any
forward-looking  statements to reflect events or circumstances after the date of
such  statements or to reflect the occurrence of  anticipated  or  unanticipated
events.

CHANGES IN FINANCIAL CONDITION FROM DECEMBER 31, 2003 TO MARCH 31, 2004

At March 31,  2004,  total  assets  were  $147.3  million,  an  increase of $2.3
million,  or 1.6%,  from $145.0  million at December 31,  2003.  The increase in
assets included a $1.8 million increase in loans receivable, a $641,000 decrease
in   investment   securities,   and  a  $1.1   million   increase  in  cash  and
interest-bearing deposits. The increase in total assets was primarily related to
a $1.1  increase in deposits,  a $834,000  increase in advances from the Federal
Home Loan Bank, and an increase in stockholders' equity of $125,000.

Investment  securities decreased by $641,000,  or 6.2%, to $9.6 million,  during
the   three   months   ended   March  31,   2004.   Securities   classified   as
available-for-sale  and recorded at market value increased $24,000 due solely to
the increase in the market value of such  securities.  Securities  classified as
held-to-maturity  decreased by $665,000 primarily due to principal repayments on
mortgage-backed  securities  of $156,000  and to the  maturity  of a  government
agency bond of $500,000.

Loans receivable  increased by $1.8 million, or 1.5%, to $127.6 million,  during
the three months ended March 31, 2004. The increase was due to loan originations
of $11.4  million  and loan  purchases  of  $255,000  offset  by loan  principal
repayments  of $9.5 million and loans sold of $339,000.  The  allowance for loan
losses was $619,000 at March 31, 2004 compared to $615,000 at December 31, 2003.
The allowance as a percentage of loans  receivable  was 0.48% and 0.49% at March
31,  2004  and  December  31,  2003,  respectively.  Loan  charge-offs,  net  of
recoveries amounted to $11,000 during the three months ended March 31, 2004. The
determination  of the  allowance  for  loan  losses  is  based  on  management's
analysis, done no less frequently than on a quarterly basis, of various factors,
including market value of the underlying  collateral,  growth and composition of
the loan  portfolio,  the  relationship  of the  allowance  for loan  losses  to
outstanding loans, historical loss experience, delinquency trends and prevailing
economic  conditions.  Although management believes its allowance of loan losses
is in accordance with  accounting  principles  generally  accepted in the United
States of America and reflects current  regulatory and economic  considerations,
there can be no assurance that additional  losses will not be incurred,  or that
the Bank's  regulators or changes in the Bank's  economic  environment  will not
require further increases in the allowance.

                                       10
<PAGE>

Deposits increased by $1.1 million, or 0.9%, to $122.8 million, during the three
months  ended March 31,  2004.  The  increase  was due to an increase in deposit
accounts  (demand,  savings,  NOW and money  market  deposit  accounts)  of $1.9
million,  or 7.3%,  which was offset by a decrease in certificates of deposit of
$794,000,  or 0.8%, and by the  amortization  of $22,000  related to the premium
paid on certificates  of deposit assumed in the acquisition of First  Lancaster.
The increase in deposit accounts was due to a $632,000  increase in money market
deposit accounts,  a $1.0 million increase in NOW accounts,  an $85,000 increase
in savings accounts,  and a $176,000 increase in non-interest checking accounts.
Advances  from the Federal Home Loan Bank  increased by $834,000,  or 12.1%,  to
$7.7  million,  during the three months ended March 31, 2004 due to $1.2 million
in  repayments  of  advances  and $2.0  million in  proceeds  from newly  issued
advances.

Stockholders' equity increased by $125,000,  to $15.2 million,  during the three
months  ended  March 31,  2004.  The  increase  during the period was due to net
income  of  $416,000,  the  release  of shares  related  to the  employee  stock
ownership  plan  of  $42,000,  and an  increase  in the net  unrealized  gain on
available-for-sale  securities,  net of tax of  $16,000,  which  were  offset by
payments  of  dividends  to  stockholders  of  $328,000  and by the  purchase of
treasury shares of $21,000.


RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2004 AND 2003

NET INCOME

Net income for the three months  ended March 31, 2004 was  $416,000  compared to
$335,000  for the same period in 2003,  an increase  of $81,000,  or 24.2%.  The
increase  resulted  from an  increase  in net  interest  income of  $205,000,  a
decrease  in the  provision  for loan  losses of  $15,000,  and an  increase  in
non-interest income of $3,000,  which were offset by an increase in non-interest
expense of $100,000 and an increase in the provision for income tax of $42,000.

INTEREST AND DIVIDEND INCOME

Interest and dividend income decreased by $34,000, or 1.6%, to $2.1 million, for
the three months ended March 31, 2004  compared to the same period in 2003.  The
decrease in interest and dividend income was due to a 31 basis point decrease in
the average  yield on  interest-earning  assets,  to 5.87% in 2004 from 6.18% in
2003  offset  by a $4.8  million,  or 3.5%,  increase  from  2003 to 2004 in the
weighted-average balance of interest-earning assets.

INTEREST EXPENSE

Interest  expense  decreased by $239,000,  or 22.2%, to $839,000,  for the three
months ended March 31, 2004 compared to the same period in 2003. The decrease in
interest  expense was due to a 82 basis point  decrease in the average  yield of
interest-bearing  liabilities,  to 2.61% in 2004 from 3.43% in 2003  offset by a
$3.3  million,  or 2.6%,  increase  from  2003 to 2004 in the  weighted  average
balance of interest-bearing liabilities.

NET INTEREST INCOME

Net interest  income  increased by $205,000,  or 19.9%,  to $1.2 million for the
three months ended March 31, 2004 compared to same period in 2003. The change in
net  interest   income   attributable  to  volume  was  favorable  by  $166,000,
attributable to rate was favorable by $48,000,  and  attributable to rate/volume
was unfavorable by $9,000.  The interest rate spread amounted to 3.26% and 2.75%
during the three months ended March 31, 2004 and 2003,  respectively,  while the
interest  margin amounted to 3.49% and 3.02% during the three months ended March
31, 2004 and 2003, respectively.

                                       11
<PAGE>

PROVISION FOR LOAN LOSSES

Provision  for loan losses  decreased by $15,000,  or 50.0%,  to $15,000 for the
three  months  ended  March  31,  2004  compared  to the  same  period  in 2003.
Management  considers  many factors in determining  the necessary  levels of the
allowance  for loan  losses,  including  an analysis  of  specific  loans in the
portfolio,  estimated value of the underlying collateral,  assessment of general
trends in the real estate market,  delinquency trends,  prospective economic and
regulatory conditions, inherent loss in the loan portfolio, and the relationship
of the allowance for loan losses to  outstanding  loans.  Loans in the portfolio
are  categorized  according  to their  perceived  inherent  level  of risk.  The
categories  include 1- to 4- dwelling unit mortgage loans, other mortgage loans,
non-mortgage   commercial   loans,  and  consumer  loans.  An  estimate  of  the
appropriate  level of  allowance  for loan  losses  is  calculated  by  applying
risk-weighting  factors to the  aggregate  balances  of these  loan  categories.
Within a given  category,  loans  classified  as  non-performing  are assigned a
higher risk weighting than  performing  loans.  Management  reviews the level of
each risk factor periodically and makes appropriate adjustments based on changes
in  conditions  that may impact the  portfolio.  Provisions  for loan losses are
booked  so as to  maintain  the  allowance  within  a  reasonable  range  of the
estimate.

NON-INTEREST INCOME

Non-interest  income  increased by $3,000,  or 7.0%,  to $51,000,  for the three
months ended March 31, 2004 compared to the same period in 2003, and such income
amounted to, on an  annualized  basis,  0.14% of average  assets for each of the
three month periods ended March 31, 2004 and 2003. The increase in  non-interest
income was  related to an  increase of $2,000 in gain,  net on  foreclosed  real
estate and an increase of $4,000 in other non-interest  income,  net, which were
offset by a  decrease  of $3,000 in fees  charged in  connection  with loans and
service charges on deposit accounts.

NON-INTEREST EXPENSE

Non-interest expense increased by $100,000, or 18.4%, to $641,000, for the three
months  ended  March 31,  2004  compared  to the same  period in 2003,  and such
expense amounted to 1.76% and 1.53% of average assets for the three months ended
March 31, 2004 and 2003,  respectively.  The  increase  was due to  increases in
compensation  and  employee  benefits of $71,000,  in  occupancy  and  equipment
expense, net of $2,000, in data processing expense of $9,000, in legal and other
professional fees of $14,000, and in other non-interest expense of $7,000, which
were offset by a decrease in state franchise tax of $3,000.

INCOME TAXES

The  provision  for income  taxes for the three  months ended March 31, 2004 and
2003 was $212,000 and  $170,000,  respectively,  which as a percentage of income
before  taxes was 33.8% for the three  months ended March 31, 2004 and 33.7% for
the three months ended March 31, 2003.



                                       12
<PAGE>

NON-PERFORMING ASSETS

The  following  table  sets  forth   information  with  respect  to  the  Bank's
non-performing  assets  at the  dates  indicated.  No  loans  were  recorded  as
restructured loans within the meaning of SFAS No. 15 at the dates indicated.

<TABLE>
<CAPTION>

                                                                              MARCH 31 ,          DECEMBER 31,
                                                                                2004                  2003
                                                                           -------------         -------------
<S>                                                                             <C>                   <C>
Loans accounted for on a non-accrual basis:1 Real estate mortgage:
     One-to-four family residential                                        $      64,102         $     391,576
     Multi-family residential, non-residential, and land                         213,328               121,179
   Commercial non-mortgage                                                            --                    --
   Consumer                                                                       20,733                24,269
                                                                           -------------         -------------
       Total                                                               $     298,163         $     537,024
                                                                           =============         =============

Accruing loans which are contractually past due 90 days or more:
 Real estate mortgage:
     One-to-four family residential                                        $   1,159,528         $   1,094,486
     Multi-family residential, non-residential, and land                          71,811                    --
   Commercial non-mortgage                                                        48,707                    --
   Consumer                                                                       33,000                    --
                                                                           -------------         -------------
       Total                                                               $   1,313,046         $   1,094,486
                                                                           =============         =============
Total of loans accounted for as non-accrual or as accruing past
   due 90 days or more                                                     $   1,611,209         $   1,631,510
                                                                           =============         =============
Percentage of loans receivable                                                      1.26%                 1.30%
                                                                           =============         =============
Other non-performing assets2                                               $      52,053         $     131,390
                                                                           =============         =============
</TABLE>

1Non-accrual status denotes any mortgage loan past due 90 days and whose loan
balance, plus accrued interest exceeds 90% of the estimated loan collateral
value, and any consumer or commercial loan more than 90 days past due. Payments
received on a non-accrual loan are either applied to the outstanding principal
balance or recorded as interest income, or both, depending on assessment of the
collectibility of the loan.

2Other non-performing assets represent property acquired by the Bank through
foreclosure or repossession. Such property is carried at the lower of its fair
market value or the principal balance of the related loan.

During the three months ended March 31,  2004,  interest  income of $4,889 would
have been recorded on loans  accounted  for on a non-accrual  basis if the loans
had been current throughout the period.  Interest on such loans actually reduced
interest income during the three months ended March 31, 2004 by $2,334.

At March 31, 2004 and  December  31, 2003,  there were no loans,  identified  by
management,  which were not  reflected in the preceding  table,  but as to which
known  information about possible credit problems of borrowers caused management
to have serious doubts as to the ability of the borrowers to comply with present
loan repayment terms.


LIQUIDITY AND CAPITAL RESOURCES

The Bank's  principal  sources of funds for  operations  are  deposits  from its
primary market area, principal and interest payments on loans, and proceeds from
maturing investment securities.  The principal uses of funds by the Bank include
the origination and purchase of mortgage,  commercial and consumer loans and the
purchase of investment securities.  The Bank must satisfy two capital standards,
as set by the OTS. These  standards  include a ratio of core capital to adjusted
total assets of 4.0%,  and a  combination  of core and  "supplementary"  capital
equal to 8.0% of risk-weighted assets. The Bank's capital exceeded these capital
standards at March 31, 2004.

                                       13
<PAGE>

At March 31, 2004,  the Bank had  outstanding  commitments  to  originate  loans
totaling  $3.1  million,  excluding  $1.2 million in unused home equity lines of
credit and $3.0 million in other lines of credit and standby  letters of credit.
Additionally,  the Bank had undisbursed commitments on construction loans closed
totaling $4.0 million.  Management believes that the Bank's sources of funds are
sufficient to fund all of its outstanding commitments.  Certificates of deposit,
which are  scheduled to mature in one year or less from March 31, 2004,  totaled
$68.5  million.  Management  believes  that a  significant  percentage  of  such
deposits will remain with the Bank.


ITEM 3: CONTROLS AND PROCEDURES

As of the end of the period  covered by this report,  management  of the Company
carried out an evaluation,  under the supervision and with the  participation of
the Company's  principal  executive officer and principal  financial officer, of
the effectiveness of the Company's disclosure controls and procedures.  Based on
this  evaluation,  the  Company's  principal  executive  officer  and  principal
financial  officer  concluded  that  the  Company's   disclosure   controls  and
procedures are effective in ensuring that  information  required to be disclosed
by the Company in reports that it files or submits under the Securities Exchange
Act of 1934, as amended, is recorded, processed, summarized and reported, within
the time periods specified in the Securities and Exchange Commission's rules and
forms. It should be noted that the design of the Company's  disclosure  controls
and procedures is based in part upon certain  reasonable  assumptions  about the
likelihood of future events,  and there can be no reasonable  assurance that any
design of  disclosure  controls and  procedures  will  succeed in achieving  its
stated goals under all potential  future  conditions,  regardless of how remote,
but the Company's principal executive and financial officers have concluded that
the Company's  disclosure  controls and procedures are, in fact,  effective at a
reasonable assurance level.

In addition,  there have been no changes in the Company's  internal control over
financial  reporting  (to the extent  that  elements of  internal  control  over
financial  reporting are subsumed  within  disclosure  controls and  procedures)
identified in connection  with the evaluation  described in the above  paragraph
that occurred  during the Company's  last fiscal  quarter,  that has  materially
affected,  or is reasonably likely to materially  affect, the Company's internal
control over financial reporting.

                                       14
<PAGE>



PART II. OTHER INFORMATION


Item 1. LEGAL PROCEEDINGS       None


Item 2. CHANGES IN SECURITIES,  USE OF PROCEEDS,  AND ISSUER PURCHASES OF EQUITY
     SECURITIES
<TABLE>
<CAPTION>

                      The following table sets forth information regarding the
                  Company's repurchases of its Common Stock during the quarter
                  ended March 31, 2004.

                                                                              Total Number
                                                                                of Shares
                                                                                Purchased         Maximum
                                                                               as Part of    Number of Shares
                                                 Total                          Publicly      that May Yet Be
                                               Number of       Average          Announced     Purchased Under
                                                Shares       Price Paid         Plans or       the Plans or
                        Period                 Purchased      per Share         Programs         Programs
                        ------                 ---------     ----------       ------------    ----------------
                     <S>                        <C>              <C>              <C>                  <C>
                    March 2004                1,312  (1)      $ 16.01               --                --
                    Beginning date: March 1
                    Ending date: March 31
</TABLE>

               (1)  Shares were  purchased  from former  employees  who received
                    stock   distribution  from  the  Company's   employee  stock
                    ownership plan.


Item 3. DEFAULTS UPON SENIOR SECURITIES                         None


Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS     None


Item 5. OTHER INFORMATION                                       None


Item 6. EXHIBITS AND REPORTS ON FORM 8-K

     a)   Exhibits

          3.2  Bylaws of CKF Bancorp, Inc.

          31.1 Rule 13a-14(a) Certification of the Chief Executive Officer

          31.2 Rule 13a-14(a) Certification of the Chief Financial Officer

          32   Certification pursuant to 18 USC Section 1350


          b)   Reports on Form 8-K

               Date of Report    Item(s) Reported    Financial Statements Filed
               --------------    ----------------    --------------------------
               April 13, 2004         7, 12                      N/A

                                       15
<PAGE>



SIGNATURES

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


                          CKF Bancorp, Inc.

Date: May 13, 2004        /s/  John H. Stigall
                          ----------------------------------------------------
                          John H. Stigall, President and Chief Executive Officer
                          (Duly Authorized Officer)




Date: May 13, 2004        /s/ Russell M. Brooks
                          ------------------------------------------------------
                          Russell M. Brooks, Vice President and Treasurer
                          (Principal Financial and Accounting Officer)


                                       16