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 June 30, 2003.

                                      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 August 13,  2003,  735,843  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

              Consolidated Balance Sheets as of June 30, 2003 (unaudited) and
               December 31, 2002...............................................3

              Consolidated Statements of Income for the Six-Month
               Periods Ended June 30, 2003 and 2002 (unaudited) and
               for the Three-Month Periods Ended June 30, 2003
               and 2002 (unaudited)............................................4

              Consolidated Statement of Changes in Stockholders'
               Equity for the Six-Month Periods Ended June 30, 2003
               and 2002 (unaudited)............................................5

              Consolidated Statements of Cash Flows for the Six-Month
               Periods Ended June 30, 2003 and 2002 (unaudited)................6

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

Item 2.       Management's Discussion and Analysis of Financial Condition and
               Results of Operations...........................................9

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



PART II.      OTHER INFORMATION

Item 1.       Legal Proceedings...............................................15
Item 2.       Changes in Securities and Use of Proceeds.......................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



<PAGE>

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

                                                                               AS OF                 AS OF
                                                                             JUNE 30,            DECEMBER 31,
                                                                               2003                  2002
                                                                         ---------------       ---------------
                                                                            (Unaudited)
<S>                                                                           <C>                   <C>
ASSETS
Cash and due from banks                                                  $     1,163,280       $     1,413,949
Interest bearing deposits                                                     12,116,485            12,303,193
                                                                         ---------------       ---------------
       Cash and cash equivalents                                              13,279,765            13,717,142
Investment securities:
   Securities available-for-sale                                               1,658,757             1,929,282
   Securities held-to-maturity (market values of $6,610,864 at
     June 30, 2003 and of $1,710,354 at December 31, 2002)                     6,545,301             1,633,216
Federal Home Loan Bank stock, at cost                                          1,698,600             1,665,500
Loans receivable                                                             114,444,133           119,687,711
Allowance for loan losses                                                       (584,320)             (570,701)
Accrued interest receivable                                                      823,647               928,473
Real estate owned                                                                155,109                88,186
Office property and equipment, net                                             1,981,602             2,042,121
Goodwill                                                                       1,099,588             1,099,588
Other assets                                                                     220,753               135,294
                                                                         ---------------       ---------------

       Total assets                                                      $   141,322,935       $   142,355,812
                                                                         ===============       ===============

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits                                                                 $   119,733,671       $   120,253,479
Advances from Federal Home Loan Bank                                           5,980,588             6,680,403
Accrued interest payable                                                          43,678                42,482
Advance payment by borrowers for taxes and insurance                             131,920                38,430
Accrued federal income tax                                                        14,900                94,539
Deferred federal income tax                                                      695,511               795,908
Other liabilities                                                                399,827               536,937
                                                                         ---------------       ---------------

     Total liabilities                                                       127,000,095           128,442,178
                                                                         ---------------       ---------------

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

Preferred stock, 100,000 shares, authorized and unissued
Common stock, $.01 par value, 4,000,000 shares authorized;
   735,843, issued and outstanding                                                10,000                10,000
Additional paid-in capital                                                     9,502,503             9,531,454
Retained earnings, substantially restricted                                    9,972,171             9,564,805
Accumulated other comprehensive income                                            11,642               190,189
Treasury stock, 264,157 shares, at cost                                       (4,354,309)           (4,354,309)
Incentive Plan Trust, 24,700 and 34,100 shares, respectively, at cost           (481,897)             (665,291)
Unearned Employee Stock Ownership Plan (ESOP) stock                             (337,270)             (363,214)
                                                                         ---------------       ---------------

     Total stockholders' equity                                               14,322,840            13,913,634
                                                                         ---------------       ---------------

     Total liabilities and stockholders' equity                          $   141,322,935       $   142,355,812
                                                                         ===============       ===============
</TABLE>

          See accompanying notes to consolidated financial statements.
                                       3
<PAGE>

                        CKF BANCORP, INC. AND SUBSIDIARY
                        CONSOLIDATED STATEMENTS OF INCOME
                                   (Unaudited)
<TABLE>
<CAPTION>

                                               FOR THE SIX-MONTH PERIODS            FOR THE THREE-MONTH PERIODS
                                                      ENDED JUNE 30                        ENDED JUNE 30
                                          ---------------------------------     -------------------------------
                                                 2003             2002                2003              2002
                                          --------------    ---------------     ---------------  --------------
<S>                                             <C>                <C>                 <C>              <C>
INTEREST AND DIVIDEND INCOME:
   Interest on loans                      $   3,916,271     $   4,554,243       $   1,890,456    $   2,266,157
   Interest and dividends on investments        115,037            97,127              69,028           48,915
   Other interest income                         70,358            67,635              36,091           35,562
                                          -------------     -------------       -------------    -------------
      Total interest and dividend income      4,101,666         4,719,005           1,995,575        2,350,634
                                          -------------     -------------       -------------    -------------

INTEREST EXPENSE:
   Interest on deposits                       1,928,081         2,458,388             921,220        1,207,591
   Interest on advances from the FHLB           128,108           240,852              57,515          113,312
                                          -------------     -------------       -------------    -------------
      Total interest expense                  2,056,189         2,699,240             978,735        1,320,903
                                          -------------     -------------       -------------    -------------

NET INTEREST INCOME                           2,045,477         2,019,765           1,016,840        1,029,731
   Provision for loan losses                     60,000            60,000              30,000           30,000
                                          -------------     -------------       -------------    -------------
      Net interest income after
        provision for loan losses             1,985,477         1,959,765             986,840          999,731
                                          -------------     -------------       -------------    -------------

NON-INTEREST INCOME:
   Loan and other service fees                   96,730            90,788              49,999           47,231
   Gain on foreclosed real estate                 1,668             5,876                 851            4,923
   Other non-interest income, net                 1,757             4,473               1,489            2,251
                                          -------------     -------------       -------------    -------------
      Total non-interest income                 100,155           101,137              52,339           54,405
                                          -------------     -------------       -------------    -------------

NON-INTEREST EXPENSE:
   Compensation and employee benefits           586,965           571,257             292,204          281,006
   Occupancy and equipment expense, net         108,297           104,091              53,241           51,700
   Data processing                              121,139           116,128              60,170           59,512
   Legal and other professional fees             41,872            54,449              29,924           37,812
   State franchise tax                           74,990            71,996              39,382           38,328
   Other non-interest expense                   162,767           154,588              79,647           76,129
                                          -------------     -------------       -------------    -------------
      Total non-interest expense              1,096,030         1,072,509             554,568          544,487
                                          -------------     -------------       -------------    -------------

Income before income tax expense                989,602           988,393             484,611          509,649

Provision for income taxes                      315,027           336,054             144,709          173,281
                                          -------------     -------------       -------------    -------------

Net income                                $     674,575     $     652,339       $     339,902    $     336,368
                                          =============     =============       =============    =============

Basic earnings per common share           $        1.01     $        1.00       $        .51     $         .52
                                          =============     =============       =============    =============

Diluted earnings per common share         $         .99     $         .98       $        .50     $         .50
                                          =============     =============       =============    =============

Weighted average common shares
   outstanding during the period                670,168           653,807             672,235          655,462
                                          =============     =============       =============    =============

Weighted average common shares
   outstanding after dilutive effect            684,354           663,518             687,976          666,626
                                          =============     =============       =============    =============
</TABLE>

          See accompanying notes to consolidated financial statements.
                                       4
<PAGE>
                        CKF BANCORP, INC. AND SUBSIDIARY
            CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
             FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2003 AND 2002
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                                                      Accumulated
                                                  Additional                             Other
                                     Common         Paid-In          Retained        Comprehensive           Treasury
                                      Stock         Capital          Earnings            Income               Stock
                                    ----------    ------------     --------------    ---------------      ---------------
<S>                                    <C>              <C>              <C>            <C>                     <C>

Balance, December 31, 2001           $ 10,000     $ 9,555,941        $ 8,727,481          $ 327,117        $ (4,301,010)

Comprehensive income:
  Net income                                                             652,339
  Other  comprehensive  loss,  net
   of tax:
    Decrease in  unrealized  gains
     on securities                                                                          (90,567)
         Total comprehensive
          income

Dividend declared ($.35 per share)                                      (227,957)

ESOP shares release accrual                            22,128

Purchase  of common  stock  (3,072
 shares)                                                                                                        (53,299)

Issued  under  stock  option  plan
(5,500 shares)                                        (35,117)
                                     --------     -----------        -----------          ---------        ------------

Balance, June 30, 2002               $ 10,000     $ 9,542,952        $ 9,151,863          $ 236,550        $ (4,354,309)
                                     ========     ===========        ===========          =========        ============


Balance, December 31, 2002           $ 10,000     $ 9,531,454        $ 9,564,805          $ 190,189        $ (4,354,309)

Comprehensive income:
  Net income                                                             674,575
  Other  comprehensive  loss,  net
   of tax:
    Decrease in  unrealized  gains
     on securities                                                                         (178,547)
        Total comprehensive income

Dividend declared ($.40 per share)                                      (267,209)

ESOP shares release accrual                            31,068

Issued  under  stock  option  plan
(9,400 shares)                                        (60,019)
                                     --------     -----------        -----------          ---------        ------------

Balance, June 30, 2003               $ 10,000     $ 9,502,503        $ 9,972,171          $  11,642        $ (4,354,309)
                                     ========     ===========        ===========          =========        ============

<CAPTION>
                                        Incentive            Unearned            Total
                                          Plan                 ESOP          Stockholders'
                                          Trust               Shares            Equity
                                    ------------------    ---------------    -------------
<S>                                          <C>                <C>                <C>
Balance, December 31, 2001                $ (899,411)        $ (417,316)      $ 13,002,802

Comprehensive income:
  Net income                                                                       652,339
  Other  comprehensive  loss,  net
   of tax:

    Decrease in  unrealized  gains
     on securities                                                                 (90,567)
                                                                              ------------
      Total comprehensive income                                                   561,772

Dividend declared ($.35 per share)                                                (227,957)

ESOP shares release accrual                                      28,168             50,296

Purchase of common stock (3,072
shares)                                                                            (53,299)


Issued  under  stock  option  plan
(5,500 shares)                                107,305                               72,188
                                          -----------        ----------       ------------


Balance, June 30, 2002                     $ (792,106)       $ (389,148)      $ 13,405,802
                                          ===========        ==========       ============

Balance, December 31, 2002                $  (665,291)       $ (363,214)      $ 13,913,634

Comprehensive income:
  Net income                                                                       674,575
  Other  comprehensive  loss,  net
   of tax:
    Decrease in  unrealized  gains
     on securities                                                                (178,547)
                                                                              ------------
        Total comprehensive income                                                 496,028

Dividend declared $.40 per
share)                                                                            (267,209)

ESOP shares release accrual                                      25,944             57,012

Issued  under  stock  option  plan
(9,400 shares)                                183,394                              123,375
                                          -----------        ----------       ------------

Balance, June 30, 2003                       (481,897)       $ (337,270)      $ 14,322,840
                                          ===========        ==========       ============
</TABLE>

          See accompanying notes to consolidated financial statements.
                                       5

<PAGE>
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
<TABLE>
<CAPTION>

                                                                                   FOR THE SIX-MONTH PERIODS
                                                                                         ENDED JUNE 30
                                                                                 -----------------------------
                                                                                      2003              2002
                                                                                 ------------      -----------
<S>                                                                                  <C>                  <C>

Cash flows from operating activities:
  Net income                                                                     $    674,575      $   652,339
  ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH PROVIDED
    BY OPERATING ACTIVITIES:
     Amortization of premiums (discounts), net on securities                            6,394             (101)
     Federal Home Loan Bank stock dividends                                           (33,100)         (36,600)
     Amortization of premiums on loans                                                 38,796           48,476
     Accretion of deferred loan origination fees                                      (12,157)         (21,029)
     Provision for losses on loans                                                     60,000           60,000
     ESOP benefit expense                                                              57,012           50,296
     Depreciation expense                                                              72,246           66,618
     Amortization of premiums on deposits and FHLB advances                           (73,841)        (164,550)
     Gain, net on sale of real estate owned                                              (558)              --
     Deferred income tax provision (benefit)                                           (8,419)          30,609
     Increase (decrease) in cash due to changes in:
      Accrued interest receivable                                                     104,826           (1,755)
      Other assets                                                                    (85,490)         (18,088)
      Accrued interest payable                                                          1,196           15,467
      Other liabilities                                                              (137,110)         (96,749)
      Current federal income taxes                                                    (79,639)         488,816
                                                                                 ------------      -----------
        Net cash provided by operating activities                                     584,731        1,073,749
                                                                                 ------------      -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Proceeds from maturity of government agency bonds held-to-maturity                       --          500,000
  Purchase of government agency bonds held-to-maturity                             (1,000,157)        (532,422)
  Repayments on mortgage backed securities held-to-maturity                            45,871           36,153
  Purchase of mortgage backed securities held to maturity                          (3,964,193)              --
  Loan originations and purchases, net of principal payments                        5,107,480        1,694,044
  Purchase of office property and equipment                                           (11,727)         (18,032)
  Proceeds from sale of (additions to) real estate owned                               (3,256)          60,802
                                                                                 ------------      -----------
        Net cash provided by investing activities                                     174,018        1,740,545
                                                                                 ------------      -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Net increase in deposit accounts                                                  1,631,287        5,991,931
  Net decrease in certificates of deposit                                          (2,086,265)        (658,767)
  Proceeds from Federal Home Loan Bank advances                                     4,000,000               --
  Repayments on Federal Home Loan Bank advances                                    (4,690,804)      (4,103,668)
  Net increase in custodial accounts                                                   93,490           99,056
  Proceeds from the exercise of stock options                                         123,375           72,188
  Purchase of treasury stock                                                               --          (53,299)
  Payment of dividends to stockholders                                               (267,209)        (227,957)
                                                                                 ------------      -----------
        Net cash provided (used) by financing activities                           (1,196,126)       1,119,484
                                                                                 ------------      -----------

Increase (decrease) in cash and cash equivalents                                     (437,377)       3,933,778

Cash and cash equivalents, beginning of period                                     13,717,142        5,520,992
                                                                                 ------------      -----------

Cash and cash equivalents, end of period                                         $ 13,279,765      $ 9,454,770
                                                                                 ============      ===========
</TABLE>


                                   (continued)

                                       6

<PAGE>

                CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
                                   (UNAUDITED)

<TABLE>
<CAPTION>

                                                                                   FOR THE SIX-MONTH PERIODS
                                                                                         ENDED JUNE 30
                                                                                ------------------------------
                                                                                     2003              2002
                                                                                -------------     ------------
<S>                                                                                <C>                <C>
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION:
  Cash paid for federal income taxes                                            $     403,085     $     80,925
  Cash received from federal income tax refunds                                 $          --     $    264,296
  Cash paid for interest on deposits and FHLB advances                          $   2,128,834     $  2,848,323

SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:
  Real estate owned acquired by foreclosure                                     $     155,078     $    144,625
  Mortgage loans originated to finance sale of real estate owned
    acquired by foreclosure                                                     $      92,000     $     70,500

</TABLE>


           See accompanying notes to consolidated financial statements

                                       7


<PAGE>

                   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  generally  accepted  accounting  principles
     ("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  June  30,  2003  are not  necessarily
     indicative  of results  that may be  expected  for the entire  fiscal  year
     ending December 31, 2003.

2.   REGULATORY CAPITAL

     The Bank's actual capital and its statutory  required  capital levels based
     on the consolidated  financial  statements  accompanying these notes are as
     follows (in thousands):
<TABLE>
<CAPTION>

                                                              June 30, 2003
                             ---------------------------------------------------------------------------------
                                                               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                    $  11,890   8.48%          $    5,608   4.00%         $    8,412    6.00%
Tangible capital                   11,890   8.48%               5,608   4.00%                n/a     n/a
Total Risk based capital           12,486   14.62%              6,833   8.00%              8,541   10.00%
Tier 1 Risk based capital          11,890   13.92%                n/a    n/a               4,270    5.00%
</TABLE>


3.   DIVIDENDS

     A cash  dividend of $.40 per share was paid by the Company on February  10,
     2003 to  stockholders of record as of January 28, 2003. The total dividends
     paid by the Company  during the six months ended June 30, 2003  amounted to
     $267,209.

4.   COMMON STOCK

     The Company issued 9,400 shares of stock at a price of $13.13 per share, or
     total  proceeds of $123,375,  related the exercise of stock options  during
     the six-months  ended June 30, 2003.


                                       8
<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,  competition,  and
information  provided by third-party  vendors 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, 2002 TO JUNE 30, 2003

At June 30, 2003, total assets were $141.3 million,  a decrease of $1.0 million,
or 0.7%,  from  $142.4  million at December  31,  2002.  The  decrease in assets
included a $5.2 million  decrease in loans  receivable,  a $437,000  decrease in
cash and  interest-bearing  deposits,  and a $4.6 million increase in investment
securities.  The  decrease  in total  assets was due to a $520,000  decrease  in
deposits and a $700,000 decrease in advances from the Federal Home Loan Bank.

Investment  securities  increased by $4.6 million,  or 130.3%,  to $8.2 million,
during  the  six  months  ended  June  30,  2003.   Securities   classified   as
available-for-sale and recorded at market value decreased $271,000 due solely to
the decrease in the market value of such  securities.  Securities  classified as
held-to-maturity  increased  by $4.9  million  due to the  purchase  of mortgage
backed  securities  totaling $4.0 million and  government  agency bonds totaling
$1.0 million  offset by principal  repayments on  mortgage-backed  securities of
$46,000.

Loans receivable  decreased by $5.2 million, or 4.4%, to $114.4 million,  during
the six months ended June 30,  2003.  The  decrease  was  primarily  due to loan
principal repayments of $34.0 million, which were offset by loan originations of
$26.5 million and by loan purchases of $2.4 million.  Repayments  have increased
during the current low interest rate  environment as borrowers  have  refinanced
the Bank's  variable  rate loans into fixed rate loans  offered  elsewhere.  The
allowance  for loan losses was $584,000 at June 30, 2003 compared to $571,000 at
December 31, 2002.  The allowance as a percentage of loans  receivable was 0.51%
and  0.48%  at  June  30,  2003  and  December  31,  2002,  respectively.   Loan
charge-offs,  net of recoveries  amounted to $46,000 during the six months ended
June 30, 2003.  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 generally accepted  accounting  principles 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.


                                       9

<PAGE>

Deposits  decreased  by $520,000,  or 0.4%,  to $119.7  million,  during the six
months ended June 30, 2003.  The decrease was due to a decrease in  certificates
of deposit of $2.1 million,  or 2.2%, and by the amortization of $65,000 related
to the premium paid on  certificates  of deposit  assumed in the  acquisition of
First Lancaster.  These decreases were offset by an increase in deposit accounts
(demand,  savings,  NOW and money market deposit  accounts) of $1.6 million,  or
6.9%. The increase in deposit accounts was primarily due to a $879,000  increase
in money  market  deposit  accounts  and a $421,000  increase  in NOW  accounts.
Advances  from the Federal Home Loan Bank  decreased by $700,000,  or 10.5%,  to
$6.0  million,  during the six months ended June 30, 2003 due to $4.7 million in
repayments of advances and $4.0 million in new advances.

Stockholders'  equity  increased by $409,000,  to $14.3 million,  during the six
months ended June 30, 2003. The increase during the period was due to net income
of $675,000,  the release of shares related to the employee stock ownership plan
of $57,000  and the  issuance of shares  upon the  exercise of stock  options of
$123,000, which were offset by payments of dividends to stockholders of $267,000
and a decrease in the net unrealized gain on available-for-sale  securities, net
of tax of $179,000.


RESULTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2003 AND 2002

NET INCOME

Net income  for the six months  ended June 30,  2003 was  $675,000  compared  to
$652,000  for the same period in 2002,  an increase  of  $23,000,  or 3.4%.  The
increase  resulted  from an  increase  in net  interest  income of $26,000 and a
decrease in the  provision  for income tax of  $21,000,  offset by a decrease in
non-interest  income  of $1,000  and an  increase  in  non-interest  expense  of
$23,000.

INTEREST AND DIVIDEND INCOME

Interest and dividend income  decreased by $617,000,  or 13.1%, to $4.1 million,
for the six months ended June 30, 2003 compared to the same period in 2002.  The
decrease in interest and  dividend  income was due to a $2.1  million,  or 1.5%,
decrease from 2002 to 2003 in the  weighted-average  balance of interest-earning
assets  and  by  an  80  basis  point   decrease   in  the   average   yield  on
interest-earning assets, to 6.04% in 2003 from 6.84% in 2002.

INTEREST EXPENSE

Interest expense decreased by $643,000,  or 23.8%, to $2.1 million,  for the six
months ended June 30, 2003 compared to the same period in 2002.  The decrease in
interest expense was due to a $3.3 million,  or 2.6%, decrease from 2002 to 2003
in the weighted  average  balance of  interest-bearing  liabilities  and by a 92
basis point decrease in the average yield of  interest-bearing  liabilities,  to
3.30% in 2003 from 4.22% in 2002.

NET INTEREST INCOME

Net interest income  increased by $26,000,  or 1.3%, to $2.0 million for the six
months ended June 30, 2003  compared to same period in 2002.  The interest  rate
spread amounted to 2.74% and 2.63% during the six months ended June 30, 2003 and
2002, respectively, while the interest margin amounted to 3.01% and 2.93% during
the six months ended June 30, 2003 and 2002, respectively.

PROVISION FOR LOAN LOSSES

Provision  for loan losses  remained  level at $60,000 for the six months  ended
June 30, 2003  compared to the same period in 2002.  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


                                       10
<PAGE>

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  decreased by $1,000,  or 1.0%,  to  $100,000,  for the six
months ended June 30, 2003 compared to the same period in 2002,  and such income
amounted to, on an annualized basis, 0.14% of average assets for each of the six
month periods ended June 30, 2003 and 2002. The decrease in non-interest  income
was  related to a decrease  of $4,000 in gain on  foreclosed  real  estate and a
decrease of $3,000 in other non-interest  income,  net, offset by an increase of
$6,000 in fees charged in connection  with loans and service  charges on deposit
accounts.

NON-INTEREST EXPENSE

Non-interest expense increased by $23,000, or 2.2%, to $1.1 million, for the six
months ended June 30, 2003 compared to the same period in 2002, and such expense
amounted to, on an annualized  basis,  1.56% and 1.50% of average assets for the
six months ended June 30, 2003 and 2002,  respectively.  The increase was due to
increases in  compensation  and employee  benefits of $16,000,  in occupancy and
equipment expense, net of $4,000, in data processing expense of $5,000, in state
franchise tax of $3,000, and in other non-interest expense of $8,000, which were
offset by a decrease in legal and other professional fees of $13,000.

INCOME TAXES

The  provision  for income taxes for the six months ended June 30, 2003 and 2002
was $315,000 and $336,000,  respectively, which as a percentage of income before
taxes was 31.8% for the six  months  ended  June 30,  2003 and 34.0% for the six
months ended June 30, 2002.  The percentage of income before taxes was less than
the 34%  statutory tax rate in 2003 due to the exercise of  non-incentive  stock
options during that period.

RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2003 AND 2002

NET INCOME

Net income for the three  months  ended June 30, 2003 was  $340,000  compared to
$336,000  for the same  period in 2002,  an  increase  of $4,000,  or 1.1%.  The
increase  resulted  from a decrease in the  provision for income tax of $28,000,
offset  by a  decrease  in  net  interest  income  of  $12,000,  a  decrease  in
non-interest  income  of $2,000  and an  increase  in  non-interest  expense  of
$10,000.

INTEREST AND DIVIDEND INCOME

Interest and dividend income  decreased by $355,000,  or 15.1%, to $2.0 million,
for the three  months  ended June 30, 2003  compared to the same period in 2002.
The decrease in interest and dividend income was due to a $3.0 million, or 2.1%,
decrease from 2002 to 2003 in the  weighted-average  balance of interest-earning
assets and by a 90 basis point decrease in the average yield on interest-earning
assets, to 5.90% in 2003 from 6.80% in 2002.

                                       11


<PAGE>

INTEREST EXPENSE

Interest  expense  decreased by $342,000,  or 25.9%, to $979,000,  for the three
months ended June 30, 2003 compared to the same period in 2002.  The decrease in
interest expense was due to a $4.0 million,  or 3.1%, decrease from 2002 to 2003
in the weighted  average  balance of  interest-bearing  liabilities  and by a 97
basis point decrease in the average yield of  interest-bearing  liabilities,  to
3.16% in 2003 from 4.13% in 2002.

NET INTEREST INCOME

Net interest income decreased by $12,000, or 1.3%, to $1.0 million for the three
months ended June 30, 2003  compared to same period in 2002.  The interest  rate
spread  amounted to 2.75% and 2.68%  during the three months ended June 30, 2003
and 2002,  respectively,  while the interest  margin amounted to 3.01% and 2.98%
during the three  months ended June 30, 2003 and 2002,  respectively.

PROVISION FOR LOAN LOSSES

Provision for loan losses  remained  level at $30,000 for the three months ended
June 30, 2003  compared to the same period in 2002.  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  decreased by $2,000,  or 3.8%,  to $52,000,  for the three
months ended June 30, 2003 compared to the same period in 2002,  and such income
amounted to, on an  annualized  basis,  0.15% of average  assets for each of the
three month periods ended June 30, 2003 and 2002.  The decrease in  non-interest
income was related to a decrease of $4,000 in gain on foreclosed real estate and
a decrease of $1,000 in other non-interest income, net, offset by an increase of
$3,000 in fees charged in connection  with loans and service  charges on deposit
accounts.

NON-INTEREST EXPENSE

Non-interest  expense increased by $10,000, or 1.9%, to $555,000,  for the three
months ended June 30, 2003 compared to the same period in 2002, and such expense
amounted to 1.58% and 1.52% of average  assets for the three  months  ended June
30,  2003  and  2002,  respectively.  The  increase  was  due  to  increases  in
compensation  and  employee  benefits of $11,000,  in  occupancy  and  equipment
expense, net of $2,000, in data processing expense of $1,000, in state franchise
tax of $1,000, and in other non-interest expense of $3,000, which were offset by
a decrease in legal and other professional fees of $8,000.

INCOME TAXES

The provision for income taxes for the three months ended June 30, 2003 and 2002
was $145,000 and $173,000,  respectively, which as a percentage of income before
taxes was 29.9% for the three months ended June 30, 2003 and 34.0% for the three
months ended June 30, 2002.  The percentage of income before taxes was less than
the 34%  statutory tax rate in 2003 due to the exercise of  non-incentive  stock
options during that period.




                                       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>
                                                                              JUNE 30,            DECEMBER 31,
                                                                                2003                 2002
                                                                           -------------         -------------
<S>                                                                             <C>                  <C>
Loans accounted for on a non-accrual basis:(1)
   Real estate mortgage:
     One-to-four family residential                                        $     213,060         $     262,279
     Multi-family residential, non-residential, and land                              --                    --
   Commercial non-mortgage                                                            --                    --
   Consumer                                                                       23,879                    --
                                                                           -------------         -------------
       Total                                                               $     236,939         $     262,279
                                                                           =============         =============

Accruing loans which are contractually past due 90 days or more:
   Real estate mortgage:
     One-to-four family residential                                        $   1,559,642         $   1,417,872
     Multi-family residential, non-residential, and land                         233,999               130,629
   Commercial non-mortgage                                                            --                    --
   Consumer                                                                           --                19,331
                                                                           -------------         -------------
       Total                                                               $   1,793,641         $   1,567,832
                                                                           =============         =============

Total of loans accounted for as non-accrual or as accruing past
   due 90 days or more                                                     $   2,030,580         $   1,830,111
                                                                           =============         =============
Percentage of loans receivable                                                      1.78%                 1.53%
                                                                           =============         =============
Other non-performing assets(2)                                             $     155,109         $      88,186
                                                                           =============         =============
</TABLE>

(1)  Non-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.

(2)  Other 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 six months ended June 30, 2003,  interest income of $8,676 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 six months ended June 30, 2003 by $1,081.

At June 30, 2003 and  December  31,  2002,  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.



                                       13

<PAGE>
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 June 30, 2003.

At June 30,  2003,  the Bank had  outstanding  commitments  to  originate  loans
totaling  $2.7  million,  excluding  $1.4 million in unused home equity lines of
credit and  $931,000  in other  lines of credit and  standby  letters of credit.
Additionally,  the Bank had undisbursed commitments on construction loans closed
totaling $3.4 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 June 30,  2003,  totaled
$59.3  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 AND USE OF PROCEEDS                None


Item 3.  DEFAULTS UPON SENIOR SECURITIES                          None


Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         The Company's  Annual  Meeting of  Stockholders  was held on April 15,
         2003.   603,450  shares  of  CKF  Bancorp,   Inc.  common  stock  were
         represented at the Annual Meeting in person or by proxy.

         Stockholders  voted in  favor  of the  election  of two  nominees  for
         director. The voting results for each nominee were as follows:

                                                   Votes In        Votes
                            Nominee           Favor of Election   Withheld
                    --------------------      -----------------   --------

                    W. Banks Hudson, III            603,450           0

                    William H. Johnson              603,425          25

                  There were no broker non-votes in the election of directors.


ITEM 5. OTHER INFORMATION                                         None


ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

          a) Exhibits

             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 15, 2003           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:      August 13, 2003                   /s/John H. Stigall
                                             ----------------------------------
                                             John H. Stigall, President and
                                             Chief Executive Officer
                                             (Duly Authorized Officer)


Date:      August 13, 2003                   /s/Russell M. Brooks
                                             ----------------------------------
                                             Russell M. Brooks, Vice President
                                             and Treasurer
                                             (Principal Financial and Accounting
                                             Officer)




                                       16