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, 2002.

                                       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,  2002,  735,843  shares of the  registrant's  common stock were
issued and outstanding.

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

Page 1 of 17 Pages                                    Exhibit Index at Page  n/a
<PAGE>

                                    CONTENTS


PART I.       FINANCIAL INFORMATION

Item 1.       Financial Statements

              Consolidated Balance Sheets as of June 30, 2002 (unaudited)
                  and December 31, 2001.....................................3

              Consolidated Statements of Income for the Six-Month Periods
                  Ended June 30, 2002 and 2001 (unaudited) and for the
                  Three-Month Periods Ended June 30, 2002 and 2001
                  (unaudited)...............................................4

              Consolidated Statement of Changes in Stockholders' Equity
                  for the Six Month Periods Ended June 30, 2002
                  and 2001 (unaudited)......................................5

              Consolidated Statements of Cash Flows for the Six-Month
                  Periods Ended June 30, 2002 and 2001 (unaudited)..........6

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

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


PART II.      OTHER INFORMATION

Item 1.       Legal Proceedings.............................................16
Item 2.       Changes in Securities and Use of Proceeds.....................16
Item 3.       Defaults Upon Senior Securities...............................16
Item 4.       Submission of Matters to a Vote of Security Holders...........16
Item 5.       Other Information.............................................16
Item 6.       Exhibits and Reports on Form 8-K..............................16


SIGNATURES    ..............................................................17

<PAGE>

                        CKF BANCORP, INC. AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
                                                                               AS OF                 AS OF
                                                                             JUNE 30,             DECEMBER 31,
                                                                               2002                    2001
                                                                         ---------------         -------------
                                                                            (Unaudited)
<S>                                                                         <C>                   <C>
ASSETS

Cash and due from banks                                                     $    731,989          $  1,653,515
Interest bearing deposits                                                      8,722,781             3,867,477
Investment securities:
   Securities available-for-sale                                               1,999,526             2,136,749
   Securities held-to-maturity  (market values of $1,715,934 and
     $1,715,269 at June 30, 2002 and December 31, 2001,
      respectively)                                                            1,658,888             1,662,518
FHLB Stock                                                                     1,627,500             1,590,900
Loans receivable, net                                                        121,562,597           123,488,713
Accrued interest receivable                                                      998,832               997,077
Real estate owned                                                                 83,823                    --
Office property and equipment, net                                             2,005,631             2,054,217
Goodwill, net of amortization of $44,492                                       1,099,588             1,099,588
Prepaid federal income tax                                                            --               369,027
Other assets                                                                     201,098               183,010
                                                                            ------------          ------------
       Total assets                                                         $140,692,253          $139,102,791
                                                                            ============          ============
LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits                                                                    $118,826,231          $113,642,079
Advances from Federal Home Loan Bank                                           6,802,469            10,921,675
Accrued interest payable                                                          74,072                58,605
Advance payment by borrowers for taxes and insurance                             139,538                40,482
Accrued and deferred federal income tax                                          936,173               832,431
Other liabilities                                                                507,968               604,717
                                                                            ------------          ------------
     Total liabilities                                                       127,286,451           126,099,989
                                                                            ------------          ------------
Commitments and contingencies

Preferred stock, 100,000 shares, authorized and unissued
Common stock, $.01 par value, 4,000,000 shares authorized;
   656,327 and 651,083, issued and outstanding at June 30,
   2002 and December 31, 2001, respectively                                       10,000                10,000
Additional paid-in capital                                                     9,542,952             9,555,941
Retained earnings, substantially restricted                                    9,151,863             8,727,481
Accumulated other comprehensive income                                           236,550               327,117
Treasury stock, 264,157 and 261,085 shares, respectively, at cost             (4,354,309)           (4,301,010)
Incentive Plan Trust, 40,600 and 46,100 shares, respectively, at cost           (792,106)             (899,411)
Unearned Employee Stock Ownership Plan (ESOP) stock                             (389,148)             (417,316)
                                                                            ------------          ------------

     Total stockholders' equity                                               13,405,802            13,002,802
                                                                            ------------          ------------
     Total liabilities and stockholders' equity                             $140,692,253          $139,102,791
                                                                            ============          ============
</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
                                          -------------------------------       ------------------------------
                                               2002             2001                2002              2001
                                          -------------     -------------       -------------    -------------
<S>                                       <C>               <C>                 <C>              <C>
INTEREST INCOME:
   Interest on loans                      $   4,554,243     $   3,340,321       $   2,266,157    $   1,848,758
   Interest and dividends on investments         97,127            76,239              48,915           44,750
   Other interest income                         67,635            75,324              35,562           47,384
                                          -------------     -------------       -------------    -------------
      Total interest income                   4,719,005         3,491,884           2,350,634        1,940,892
                                          -------------     -------------       -------------    -------------
INTEREST EXPENSE:
   Interest on deposits                       2,458,388         1,947,362           1,207,591        1,086,417
   Other interest expense                       240,852           154,593             113,312           79,741
                                          -------------     -------------       -------------    -------------
      Total interest expense                  2,699,240         2,101,955           1,320,903        1,166,158
                                          -------------     -------------       -------------    -------------

NET INTEREST INCOME                           2,019,765         1,389,929           1,029,731          774,734
   Provision for loan losses                     60,000            20,000              30,000           11,000
                                          -------------     -------------       -------------    -------------
      Net interest income after provision
        for loan losses                       1,959,765         1,369,929             999,731          763,734
                                          -------------     -------------       -------------    -------------
NON-INTEREST INCOME:
   Loan and other service fees                   90,788            75,407              47,231           41,170
   Gain on foreclosed real estate                 5,876            15,544               4,923           15,544
   Other non-interest income, net                 4,473            11,261               2,251            5,955
                                          -------------     -------------       -------------    -------------
      Total non-interest income                 101,137           102,212              54,405           62,669
                                          -------------     -------------       -------------    -------------
NON-INTEREST EXPENSE:
   Compensation and benefits                    571,257           363,033             281,006          203,343
   Occupancy expense, net                       104,091            65,631              51,700           39,495
   Data Processing                              116,128           105,254              59,512           69,163
   Legal and professional fees                   54,449            32,639              37,812           15,152
   State franchise tax                           71,996            34,275              38,328           15,766
   Other non-interest expense                   154,588           132,674              76,129          102,911
                                          -------------     -------------       -------------    -------------
      Total non-interest expense              1,072,509           733,506             544,487          445,830
                                          -------------     -------------       -------------    -------------
Income before income tax expense                988,393           738,635             509,649          380,573

Provision for income taxes                      336,054           251,136             173,281          126,463
                                          -------------     -------------       -------------    -------------
Net income                                $     652,339     $     487,499       $     336,368    $     254,110
                                          =============     =============       =============    =============
Basic earnings per common share           $        1.00     $         .76       $        .52     $         .40
                                          =============     =============       =============    =============
Diluted earnings per common share         $         .98     $         .76       $        .50     $         .40
                                          =============     =============       =============    =============
Weighted average common shares
   outstanding during the period                653,807           637,859             655,462          638,156
                                          =============     =============       =============    =============
Weighted average common shares
   outstanding after dilutive effect
   during the period                            663,518           640,192             666,626          640,489
                                          =============     =============       =============    =============
</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, 2002 AND 2001
                                   (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, 2000           $ 10,000     $ 9,578,665        $ 8,091,071          $ 348,909        $ (4,136,260)

Comprehensive income:
  Net income                                                             487,499
  Other  comprehensive  loss,  net                                                           12,711
   of tax
    Unrealized loss on securities
Total comprehensive income

Dividend declared                                                      (203,643)

ESOP shares earned                                      9,966

Issue of common stock

Purchase of common  stock,  12,000                                                                             (164,750)
shares
                                     --------     -----------       ------------          ---------        ------------

Balance, June 30, 2001               $ 10,000     $ 9,588,631       $  8,374,927          $ 361,620        $ (4,301,010)
                                     ========     ===========       ============          =========        ============

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                                                         (90,567)
   of tax
    Unrealized loss on securities
Total comprehensive income

Dividend declared                                                      (227,957)

ESOP shares earned                                     22,128

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

Shares  issued  upon  exercise  of                   (35,117)
options
                                     --------     -----------       ------------         ----------        ------------
Balance, June 30, 2002               $ 10,000     $ 9,542,952        $ 9,151,863         $  236,550        $ (4,354,309)
                                     ========     ===========        ===========         ==========        ============
<CAPTION>
                                      INCENTIVE             UNEARNED            TOTAL
                                         PLAN                 ESOP          STOCKHOLDERS'
                                         TRUST               SHARES            EQUITY
                                      ------------         -----------      ------------
<S>                                   <C>                  <C>              <C>
Balance, December 31, 2000            $ (1,093,433)        $ (472,086)      $ 12,326,866

Comprehensive income:
  Net income                                                                     487,499
  Other  comprehensive  loss,  net                                                12,711
   of tax                                                                   ------------
    Unrealized loss on securities
Total comprehensive income                                                       500,210

Dividend declared                                                              (203,643)

ESOP shares earned                                             28,782             38,748

Issue of common stock                       21,000                                21,000

Purchase of common  stock,  12,000                                             (164,750)
shares
                                      ------------         ----------       ------------

Balance, June 30, 2001                $ (1,072,433)        $ (443,304)      $ 12,518,431
                                      ============         ==========       ============


Balance, December 31, 2001            $   (899,411)        $ (417,316)      $ 13,002,802

Comprehensive income:
  Net income                                                                     652,339
  Other  comprehensive  loss,  net                                               (90,567)
   of tax                                                                   ------------
    Unrealized loss on securities
Total comprehensive income                                                       561,772

Dividend declared                                                              (227,957)

ESOP shares earned                                              28,168            50,296

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

Shares  issued  upon  exercise  of         107,305                               72,188
options
                                      ------------         ----------       ------------
Balance, June 30, 2002                $   (792,106)        $ (389,148)      $ 13,405,802
                                      ============         ==========       ============
</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
                                                                                 -----------------------------
                                                                                    2002              2001
                                                                                 ------------      -----------
<S>                                                                              <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                                                                     $    652,339     $    487,499
  ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH
    PROVIDED BY OPERATING ACTIVITIES:
    Amortization of discounts and premiums on investments                                (101)          29,496
    Federal Home Loan Bank stock dividends                                            (36,600)         (27,300)
    Amortization of premiums on loans                                                  48,476               --
    Amortization of deferred loan origination fees                                    (21,029)          (7,218)
    Provision for losses on loans                                                      60,000           20,000
    ESOP benefit expense                                                               50,296           38,748
    Provision for depreciation                                                         66,618           46,320
    Amortization of premiums on deposits and FHLB advances                           (164,550)              --
    Non-cash compensation under stock based benefit plan                                   --           21,000
    Increase (decrease) in cash due to changes in:
      Accrued interest receivable                                                      (1,755)        (127,613)
      Other assets                                                                    (18,088)          21,503
      Accrued interest payable                                                         15,467           73,253
      Other liabilities                                                               (96,749)        (266,647)
      Federal income taxes                                                            519,425           56,136
                                                                                 ------------     ------------
        Net cash provided by operating activities                                   1,073,749          365,177
                                                                                 ------------     ------------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Cash consideration in the acquisition of First Lancaster, net                            --      (10,795,858)
  Proceeds from maturity of government agency bonds                                   500,000               --
  Purchase of government agency bonds                                                (532,422)        (992,468)
  Principal repayments on mortgage back securities                                     36,153           66,559
  Loan originations and principal payments on loans, net                            1,694,044       (4,472,626)
  Proceeds from sale of real estate owned                                              60,802               --
  Purchase of office property and equipment                                           (18,032)          (4,307)
  Investment in service corporation                                                        --          (76,320)
                                                                                 ------------     ------------
        Net cash (used) by investing activities                                     1,740,545      (16,275,020)
                                                                                 ------------     ------------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Net increase (decrease) in deposit accounts                                       5,991,931        2,434,587
  Net increase (decrease) in certificates of deposit                                 (658,767)      19,770,572
  Proceeds from FHLB advances                                                              --       12,000,000
  Payments on FHLB advances                                                        (4,103,668)     (14,536,379)
  Net increase (decrease) in custodial accounts                                        99,056           84,197
  Proceeds from the exercise of stock options                                          72,188               --
  Purchase of treasury stock                                                          (53,299)        (164,750)
  Payment of dividends to shareholders                                               (227,957)        (203,643)
                                                                                 ------------     ------------
        Net cash provided (used) by financing activities                            1,119,484       19,384,584
                                                                                 ------------     ------------

Increase (decrease) in cash and cash equivalents                                    3,933,778        3,474,741
Cash and cash equivalents, beginning of period                                      5,520,992        3,266,707
                                                                                 ------------     ------------
Cash and cash equivalents, end of period                                         $  9,454,770     $  6,741,448
                                                                                 ============     ============
</TABLE>
                                       6
<PAGE>

                CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                    FOR THE SIX-MONTH PERIODS
                                                                                          ENDED JUNE 30
                                                                                 -----------------------------
                                                                                    2002              2001
                                                                                 ------------      -----------
<S>                                                                              <C>               <C>
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION:
  Cash paid for federal income taxes                                             $     80,925     $    195,000
                                                                                 ============     ============
  Cash paid for interest on deposits and FHLB advances                           $  2,848,323     $  2,063,233
                                                                                 ============     ============
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:
  Real estate owned acquired by foreclosure                                      $    144,625     $     93,333
                                                                                 ============     ============
  Mortgage loans originated to finance sale of real estate owned
    acquired by foreclosure                                                      $     70,500     $    110,000
                                                                                 ============     ============
</TABLE>

                                       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,  2002  are not  necessarily
     indicative  of results  that may be  expected  for the entire  fiscal  year
     ending December 31, 2002.

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, 2002
                             ------------------------------------------------------------------------------
                                                                                           TO BE WELL
                                                                                        CAPITALIZED UNDER
                                                               FOR CAPITAL              PROMPT CORRECTIVE
                                                            ADEQUACY PURPOSES           ACTION PROVISIONS
                             ---------------------         -------------------        ---------------------
                                      ACTUAL                     REQUIRED                   REQUIRED
                             ---------------------         -------------------        ---------------------
                                AMOUNT        %             AMOUNT        %            AMOUNT         %
                             ---------------------         -------------------        ---------------------
<S>                            <C>           <C>            <C>          <C>           <C>           <C>
Core capital                   $ 10,639      7.6%           $5,568       4.0%          $8,352        6.0%

Tangible capital                 10,639      7.6%            5,568       4.0%             n/a         n/a

Total Risk based capital         11,390     12.2%            7,439       8.0%           9,299       10.0%

Tier 1 Risk based capital        10,639     11.4%              n/a       n/a            4,649        5.0%
</TABLE>


3.   DIVIDENDS

     A cash  dividend  of $0.35  per  share  was paid on  February  11,  2002 to
     stockholders  of record as of January 28, 2002. The total dividends paid by
     the  Company  for the  six-month  period  ended June 30,  2002  amounted to
     $227,957.

                                       8
<PAGE>
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


4.   COMMON STOCK

     The Company  purchased  3,072 shares of treasury stock at a cost of $53,299
     during the six-month  period ended June 30, 2002. In addition,  the Company
     issued  5,500  shares of stock at a price of  $13.13  per  share,  or total
     proceeds of  $72,188,  related the  exercise  of stock  options  during the
     six-month period.

5.   BUSINESS COMBINATION

     On May 31, 2001, the Company  acquired  First  Lancaster  Bancshares,  Inc.
     (First  Lancaster),  the holding company of First Lancaster Federal Savings
     Bank (Lancaster), a federally chartered savings bank, located in Lancaster,
     Kentucky.  Under the  Agreement and Plan of Merger dated as of December 14,
     2000,  the Company  acquired  First  Lancaster for a cash purchase price of
     $13.6  million,  which  represented  $16.27 per share for each  outstanding
     share of First Lancaster  common stock.  An additional  payment of $130,371
     was made for the  cancellation  of all  outstanding  First  Lancaster stock
     options.  As a result of the  merger,  Lancaster  was merged  into  Central
     Kentucky Federal Savings Bank.

     The  combination was accounted for under the purchase method of accounting,
     and  accordingly,  the net assets  were  recorded at their  estimated  fair
     values at the date of acquisition, May 31, 2001. The net assets acquired at
     May 31, 2001 totaled $13.7  million,  with total assets  amounting to $56.1
     million,  which  included  net loans of $47.8  million and goodwill of $1.1
     million,  and with total  liabilities  assumed  amounting to $42.4 million,
     which  included  deposits  of  $31.6  million  and FHLB  advances  of $10.1
     million.  Fair value adjustments on the assets and liabilities  included in
     the purchase are being  amortized  over the estimated  lives of the related
     assets and liabilities. The excess of the purchase price over the estimated
     fair value of the  underlying  net assets of  $1,144,080  was  allocated to
     goodwill and was  amortized  over 15 years using the  straight-line  method
     through December 31, 2001 (See Note 6).

6.   GOODWILL

     In June 2001,  the  Financial  Accounting  Standards  Board  (FASB)  issued
     Statement No. 141, "Business Combinations" and Statement No. 142, "Goodwill
     and Other  Intangible  Assets."  Statement  No. 141  pertains  to  business
     combinations  initiated  after  June 30,  2001 and  requires  all  business
     combinations  after this date to be accounted for using the purchase method
     of accounting.  The Statement  further  provided that goodwill  recorded in
     purchase  accounting  transactions  occurring  prior to June 30, 2001 would
     continue to be  amortized  against  earnings  until the  effective  date of
     Statement  No.  142.  Statement  No. 142  pertains  to the  accounting  for
     goodwill  and other  intangible  assets and is  effective  for the  Company
     beginning  January  1, 2002.  Beginning  in January  2002,  the  Company is
     required to cease  amortizing  goodwill.  In accordance  with Statement No.
     142, and subsequent to the effective  date, the Company is required to test
     the goodwill  carrying  value for  impairment at the reporting  unit level,
     which is the operating segment or component of the business identified with
     the  goodwill.  If the  carrying  amount of  goodwill  exceeds  the implied
     goodwill  determined  as a result  of the test then an  impairment  loss is
     immediately  recognized for the excess amount.  Further,  after the initial
     evaluation  of goodwill,  the Company must  annually  evaluate the recorded
     goodwill for impairment.  For the six-month period ended June 30, 2002, the
     Company did not record any loss due to the impairment of goodwill,  and the
     carrying value of goodwill at June 30, 2002 totals $1,099,588.

                                       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,  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, 2001 TO JUNE 30, 2002

At June 30, 2002,  total assets amounted to $140.7 million,  an increase of $1.6
million,  or 1.1%,  from $139.1  million at December 31,  2001.  The increase in
assets includes a $3.9 million increase in cash and interest-bearing deposits, a
$1.9 million  decrease in net loans  receivable  and a $141,000  decrease in the
investment securities. The increase in total assets was funded by a $5.2 million
increase in deposits,  which was offset by a decrease in borrowed  funds of $4.1
million.

Investment securities decreased $141,000,  or 3.7%, to $3.7 million,  during the
six-month   period   ended   June   30,   2002.    Securities    classified   as
available-for-sale and recorded at market value decreased $137,000 due solely to
the  decrease  in the market  value of such  securities.  Investment  securities
classified  as held to  maturity  decreased  by $4,000 due to the  maturity of a
$500,000  federal  agency bond and $36,000 in principal  repayments  on mortgage
backed  securities which were offset by the purchase of a federal agency bond of
$532,000.

Loans receivable  decreased by $1.9 million, or 1.6%, to $121.6 million,  during
the six-month period ended June 30, 2002. The decrease was primarily due to loan
principal repayments of $30.5 million, which were offset by loan originations of
$24.7 million and by loan purchases of $4.1 million.  Loans  transferred to real
estate owned during the period  equaled  $145,000.  The  allowance for losses on
loans  totaled  $514,000 at June 30, 2002  compared to $458,000 at December  31,
2001. The allowance as a percentage of total loans outstanding,  net of unearned
loan  origination  fees,  was 0.42% at June 30, 2002 and 0.37% at  December  31,
2001.  Although  management  believes that its allowance for loan losses at June
30, 2002 is adequate based upon the available facts and circumstances, there can
be no assurance that additions to such allowance will not be necessary in future
periods, which could adversely affect the results of operations.

Deposits  increased by $5.2  million,  or 4.6%,  to $118.8  million,  during the
six-month  period  ended June 30, 2002.  This  increase  reflects the  Company's
competitively  priced  product  line  within  the local  market  area,  plus the
reaction of  customers  to the  increased  risk in  alternative  investments  as
evidenced by the recent decline in the stock market indexes.  During the period,
Advances from the Federal Home Loan Bank decreased by $4.1 million, or 37.7%, to
$6.8 million at June 30, 2002.

Stockholders'  equity increased by $403,000,  or 3.1%, to $13.4 million,  during
the  six-month  period ended June 30, 2002.  The increase was due to earnings of
$652,000,  the release of shares related to the employee stock ownership plan of
$50,000  and the  issuance  of shares  upon the  exercise  of stock  options  of
$72,000,   which  were  partially   offset  by  the  payments  of  dividends  to
stockholders  of $228,000,  a decrease in the unrealized  gains on available for
sale securities of $91,000 and the purchase of treasury stock of $53,000.

                                       10
<PAGE>
RESULTS OF OPERATIONS FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2002 AND 2001

NET INCOME

Net income for the six-month period ended June 30, 2002 was $652,000 compared to
$487,000  for the  corresponding  period in 2001,  an increase of  $165,000,  or
33.8%. The increase resulted from an increase in net interest income of $630,000
offset by  increases  in  provision  for loan  losses of  $40,000,  non-interest
expense  of  $339,000  and income tax  expense of $85,000  and by a decrease  in
non-interest  income of $1,000.  The  increases in net income items were largely
related to the Company's acquisition of First Lancaster Bancshares,  Inc. on May
31, 2001.

INTEREST INCOME

Interest  income  increased by $1.2 million,  or 35.1%,  to $4.7 million for the
six-month period ended June 30, 2002 compared to the six-month period ended June
30, 2001. The increase was due to a $49.5 million, or 56.0%,  increase from 2001
to 2002 in the weighted-average  balance of interest-earning assets, offset by a
106 basis point decrease in the average yield of  interest-earning  assets, from
7.90% in 2001 to 6.84% in 2002.  The  increase in the  average  interest-earning
assets  was  primarily  due to the  Company's  acquisition  of  First  Lancaster
Bancshares, Inc. on May 31, 2001.

INTEREST EXPENSE

Interest  expense  increased  by  $597,000,  or 28.4%,  to $2.7  million for the
six-month period ended June 30, 2002 compared to the six-month period ended June
30, 2001. The increase was due to a $49.7 million, or 63.4%,  increase from 2001
to 2002 in the weighted-average balance of interest-bearing liabilities,  offset
by a 115 basis point  decrease in the average cost of funds,  from 5.36% in 2001
to 4.21% in 2002.  The  increase  in average  interest-bearing  liabilities  was
primarily due to the acquisition of First Lancaster Bancshares on May 31, 2001.

NET INTEREST INCOME

As a result of the  changes in  interest  income and in  interest  expense,  net
interest  income  increased  by  $630,000,  or 45.3%,  to $2.0  million  for the
six-month period ended June 30, 2002 compared to the six-month period ended June
30, 2001. The increase in net interest  income was  attributable to increases in
interest-earning  assets  and  in  interest-bearing   liabilities,   which  were
primarily due to the acquisition of First Lancaster  Bancshares on May 31, 2001.
The interest rate spread was 2.63% and 2.54% during the six-month  periods ended
June 30, 2002 and 2001, respectively.

PROVISION FOR LOAN LOSSES

The Company  recorded a provision  for loan losses of $60,000 and $20,000 in the
six-month  periods  ended  June 30,  2002  and  2001,  respectively.  Management
established the Company's  existing level of its allowance for loan losses based
upon  its  analysis  of  various  factors,  including  the  market  value of the
underlying  collateral,   composition  of  the  loan  portfolio,  the  Company's
historical  loss  experience,  delinquency  trends and  prevailing and projected
economic conditions in the Company's market area.

NON-INTEREST INCOME

Non-interest  income amounted to $101,000 and $102,000 for the six-month periods
ended  June 30,  2002 and 2001,  respectively,  a decrease  of $1,000,  or 1.1%.
Non-interest income included primarily fees charged in connection with loans and
service  charges on deposit  accounts of $91,000  and $75,000 for the  six-month
periods ended June 30, 2002 and 2001, respectively.

                                       11
<PAGE>

NON-INTEREST EXPENSE

Non-interest expense totaled $1.1 million and $734,000 for the six-month periods
ended June 30, 2002 and 2001,  respectively,  an increase of $339,000, or 46.2%,
and such expense  amounted to 1.50% and 1.61% of average assets on an annualized
basis for the periods ended June 30, 2002 and 2001,  respectively.  The increase
was due to increases in compensation and benefits of $208,000, occupancy expense
of $38,000,  data processing expense of $11,000,  legal and professional fees of
$22,000,  state  franchise  tax of  $38,000,  and other  operating  expenses  of
$22,000. The increases in the various  non-interest  expenses were primarily due
to the Company's  acquisition  of First  Lancaster  Bancshares,  Inc. on May 31,
2001.

INCOME TAXES

The provision for income taxes for the six month periods ended June 30, 2002 and
2001 was $336,000 and  $251,000,  respectively,  which as a percentage of income
before income taxes was 34.0% for each of the  six-month  periods ended June 30,
2002 and 2001.


RESULTS OF OPERATIONS FOR THE THREE-MONTH PERIODS ENDED JUNE 30, 2002 AND 2001

NET INCOME

Net income for the three-month  period ended June 30, 2002 was $336,000 compared
to $254,000 for the  corresponding  period in 2001,  an increase of $82,000,  or
32.4%. The increase resulted from an increase in net interest income of $255,000
offset by  increases  in  provision  for loan  losses of  $19,000,  non-interest
expense of  $99,000  and income  tax  expense  of $47,000  and by a decrease  in
non-interest  income of $8,000.  The  increases in net income items were largely
related to the Company's acquisition of First Lancaster Bancshares,  Inc. on May
31, 2001.

INTEREST INCOME

Interest  income  increased  by  $410,000,  or 21.1%,  to $2.4  million  for the
three-month  period ended June 30, 2002 compared to the three-month period ended
June 30, 2001. The increase was due to a $39.2 million, or 39.6%,  increase from
2001 to 2002 in the weighted-average  balance of interest-earning assets, offset
by a 104 basis point decrease in the average yield of  interest-earning  assets,
from  7.84%  in  2001  to  6.80%  in  2002.   The   increase   in  the   average
interest-earning  assets was primarily due to the Company's acquisition of First
Lancaster Bancshares, Inc. on May 31, 2001.

INTEREST EXPENSE

Interest  expense  increased  by  $155,000,  or 13.3%,  to $1.3  million for the
three-month  period ended June 30, 2002 compared to the three-month period ended
June 30, 2001. The increase was due to a $38.3 million, or 42.7%,  increase from
2001 to 2002 in the  weighted-average  balance of interest-bearing  liabilities,
offset by a 107 basis point decrease in the average cost of funds, from 5.20% to
4.13%. The increase in average interest-bearing liabilities was primarily due to
the acquisition of First Lancaster Bancshares on May 31, 2001.

NET INTEREST INCOME

As a result of the  changes in  interest  income and in  interest  expense,  net
interest  income  increased  by  $255,000,  or 32.9%,  to $1.0  million  for the
three-month  period ended June 30, 2002 compared to the three-month period ended
June 30, 2001. The increase in net interest income was attributable to increases
in  interest-earning  assets  and in  interest-bearing  liabilities,  which were
primarily due to the acquisition of First Lancaster  Bancshares on May 31, 2001.
The  interest  rate spread was 2.67% and 2.64%  during the  three-month  periods
ended June 30, 2002 and 2001, respectively.

                                       12
<PAGE>

PROVISION FOR LOAN LOSSES

The Company  recorded a provision  for loan losses of $30,000 and $11,000 in the
three-month  periods  ended  June 30,  2002 and 2001,  respectively.  Management
established the Company's  existing level of its allowance for loan losses based
upon  its  analysis  of  various  factors,  including  the  market  value of the
underlying  collateral,   composition  of  the  loan  portfolio,  the  Company's
historical  loss  experience,  delinquency  trends and  prevailing and projected
economic conditions in the Company's market area.

NON-INTEREST INCOME

Non-interest  income amounted to $54,000 and $63,000 for the three-month periods
ended June 30,  2002 and 2001,  respectively,  a decrease  of $9,000,  or 13.2%.
Non-interest income included primarily fees charged in connection with loans and
service  charges on deposit  accounts of $47,000 and $41,000 for the three-month
periods ended June 30, 2002 and 2001, respectively.

NON-INTEREST EXPENSE

Non-interest  expense totaled $544,000 and $446,000 for the three-month  periods
ended June 30, 2002 and 2001,  respectively,  an increase of $98,000,  or 22.1%,
and such expense  amounted to 1.52% and 1.76% of average assets on an annualized
basis for the periods ended June 30, 2002 and 2001,  respectively.  The increase
was due to increases in compensation and benefits of $78,000,  occupancy expense
of $12,000,  legal and  professional  fees of $23,000 and state franchise tax of
$22,000,  which were offset by a  decreases  in data  processing  of $10,000 and
other operating expenses of $27,000.  The increases in the various  non-interest
expenses  were  primarily due to the Company's  acquisition  of First  Lancaster
Bancshares, Inc. on May 31, 2001.

INCOME TAXES

The provision for income taxes for the  three-month  periods ended June 30, 2002
and 2001 was  $173,000 and  $126,000,  respectively,  which as a  percentage  of
income before income taxes was 34.0% for each of the  three-month  periods ended
June 30, 2002 and 2001.


                                       13
<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,
                                                                                2002                  2001
                                                                           -------------        ------------
<S>                                                                        <C>                   <C>
Loans accounted for on a non-accrual basis:(1)
   Real estate mortgage:
     One-to-four family residential                                        $     246,864         $   332,141
     Multi-family residential, non-residential, and land                              --                  --
   Commercial non-mortgage                                                            --                  --
   Consumer                                                                       40,916              40,532
                                                                           -------------         -----------
       Total                                                               $     287,780         $   373,673
                                                                           =============         ===========

Accruing loans which are contractually past due 90 days or more:
   Real estate mortgage:
     One-to-four family residential                                        $   1,720,064         $ 1,739,818
     Multi-family residential, non-residential, and land                          29,976                  --
   Commercial non-mortgage                                                            --                  --
   Consumer                                                                       33,699              30,100
                                                                           -------------         -----------
       Total                                                               $   1,783,739         $ 1,769,918
                                                                           =============         ===========

Total of loans accounted for as non-accrual or as accruing past
   due 90 days or more                                                     $   2,071,519         $ 2,142,591
                                                                           =============         ===========
Percentage of loans receivable, net                                                 1.70%               1.74%
                                                                           =============         ===========
Other non-performing assets (2)                                            $      83,823         $     9,500
                                                                           =============         ===========
<FN>
(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.
</FN>
</TABLE>

During the six-month period ended June 30, 2002,  additional  interest income of
$6,588 would have been recorded on loans accounted for on a non-accrual basis if
the loans had been current throughout the year.  Interest on such loans actually
included in income  during the  six-month  period  ended June 30,  2002  totaled
$13,653.

At June 30, 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.

                                       14
<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, 2002.

At June 30,  2002,  the Bank had  outstanding  commitments  to  originate  loans
totaling $1.7 million and to purchase  loans  totaling  $1.3 million,  excluding
$1.6  million in unused  home equity  lines of credit and $1.1  million in other
lines of credit  and  standby  letters  of  credit.  Additionally,  the Bank had
undisbursed  commitments  on  construction  loans closed  totaling $3.6 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, 2002, totaled $68.5 million. Management
believes  that a  significant  percentage  of such deposits will remain with the
Bank.

                                       15
<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               None

          The Company's  Annual  Meeting of  Stockholders  was held on April 16,
          2002.   618,294  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 three  nominees  for
          director. The voting results for each nominee were as follows:

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

          Jack L. Bosley, Jr.                618,294                   0

          Yvonne York Morley                 618,294                   0

          Virginia R.S. Stump                618,294                   0



Item 5.    OTHER INFORMATION                                                None

Item 6.    EXHIBITS AND REPORTS ON FORM 8-K

               a) Exhibits

                   99      Certification

               b) No  reports on Form 8-K were filed  during the  quarter  ended
                  June 30, 2002.


                                       16
<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, 2002        /s/ John H. Stigall
                                 ---------------------------------------------
                                 John H. Stigall, President and Chief
                                 Executive Officer
                                 (Duly Authorized Officer)




Date:     August 13, 2002        /s/ Russell M. Brooks
                                 ---------------------------------------------
                                 Russell M. Brooks, Vice President and Treasurer
                                 (Principal Financial and Accounting Officer)

                                       17