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, 2004.

                                       OR

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


Commission File Number:    0-25180

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

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

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

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

Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirement for the past 90 days. Yes  X    No
                                                             ---      ---

As of August 7, 2004, 1,465,528 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
<TABLE>
<CAPTION>

Item 1.       Financial Statements
<S>             <C>                                                                                           <C>
              Condensed Consolidated Balance Sheets as of June 30, 2004 (unaudited) and
                  December 31, 2003............................................................................3

              Condensed Consolidated Statements of Income for the Six-Month Periods Ended
                  June 30, 2004 and 2003 (unaudited) and for the Three-Month Periods Ended
                  June 30, 2004 and 2003 (unaudited)...........................................................4

              Condensed Consolidated Statement of Changes in Stockholders' Equity for the
                  Six-Month Periods Ended June 30, 2004 and 2003 (unaudited)...................................5

              Condensed Consolidated Statements of Cash Flows for the Six-Month Periods
                  Ended June 30, 2004 and 2003 (unaudited).....................................................6

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

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

Item 3.       Controls and Procedures.........................................................................16



PART II.      OTHER INFORMATION

Item 1.       Legal Proceedings...............................................................................17
Item 2.       Changes in Securities, Use of Proceeds, and Issuer Purchases of Equity Securities...............17
Item 3.       Defaults Upon Senior Securities.................................................................17
Item 4.       Submission of Matters to a Vote of Security Holders.............................................17
Item 5.       Other Information...............................................................................17
Item 6.       Exhibits and Reports on Form 8-K................................................................17

SIGNATURES....................................................................................................18
</TABLE>


<PAGE>


                        CKF BANCORP, INC. AND SUBSIDIARY
                      CONDENSED CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                               As of                 As of
                                                                             June 30,            December 31,
                                                                               2004                  2003
                                                                         ---------------       ---------------
                                                                            (Unaudited)
<S>                                                                             <C>                   <C>
ASSETS

Cash and due from banks                                                  $       967,924       $     1,121,357
Interest bearing deposits                                                      1,848,649             2,671,433
                                                                         ---------------       ---------------
       Cash and cash equivalents                                               2,816,573             3,792,790
Investment securities:
   Securities available-for-sale                                               2,093,128             1,930,421
   Securities held-to-maturity (market values of $8,133,062 at
     June 30, 2004 and of $8,330,782 at December 31, 2003)                     8,249,513             8,333,409
Federal Home Loan Bank stock, at cost                                          1,767,500             1,732,900
Loans receivable                                                             133,544,560           125,774,932
Allowance for loan losses                                                       (629,573)             (615,089)
Accrued interest receivable                                                      764,591               731,281
Real estate owned                                                                 52,053               131,390
Office property and equipment, net                                             1,878,501             1,925,300
Goodwill                                                                       1,099,588             1,099,588
Other assets                                                                     225,189               147,046
                                                                         ---------------       ---------------

       Total assets                                                      $   151,861,623       $   144,983,968
                                                                         ===============       ===============

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits                                                                 $   120,943,583       $   121,689,009
Advances from Federal Home Loan Bank                                          13,701,046             6,899,835
Accrued interest payable                                                          48,995                23,672
Advance payment by borrowers for taxes and insurance                             126,265                44,839
Accrued federal income tax                                                        65,898                75,931
Deferred federal income tax                                                      783,668               750,904
Other liabilities                                                                414,592               431,999
                                                                         ---------------       ---------------

     Total liabilities                                                       136,084,047           129,916,189
                                                                         ---------------       ---------------

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

Preferred stock, 100,000 shares, authorized and unissued Common
   stock, $.01 par value, 4,000,000 shares authorized;
   1,470,374 and 1,471,686 issued and outstanding, respectively                   10,000                10,000
Additional paid-in capital                                                     9,590,498             9,533,759
Retained earnings, substantially restricted                                   10,993,940            10,453,207
Accumulated other comprehensive income                                           281,834               174,447
Treasury stock, 529,626 and 528,314 shares, respectively, at cost             (4,375,315)           (4,354,309)
Incentive Plan Trust, 44,900 shares, at cost                                    (437,999)             (437,999)
Unearned Employee Stock Ownership Plan (ESOP) stock                             (285,382)             (311,326)
                                                                         ---------------       ---------------

     Total stockholders' equity                                               15,777,576            15,067,779
                                                                         ---------------       ---------------

     Total liabilities and stockholders' equity                          $   151,861,623       $   144,983,968
                                                                         ===============       ===============
</TABLE>

     See accompanying notes to condensed consolidated financial statements.

                                       3
<PAGE>


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

                                              For the Six-Month Periods         For the Three-Month Periods
                                                    Ended June 30                        Ended June 30
                                          -------------------------------       ------------------------------
                                               2004             2003                2004              2003
                                          -------------     -------------       -------------    -------------
<S>                                             <C>              <C>                 <C>                <C>
Interest and dividend income:
   Interest on loans                      $   3,994,989     $   3,916,271       $   2,022,317    $   1,890,456
   Interest and dividends on investments        182,748           115,037              88,670           69,028
   Other interest income                          9,247            70,358               4,008           36,091
                                          -------------     -------------       -------------    -------------
      Total interest and dividend income      4,186,984         4,101,666           2,114,995        1,995,575
                                          -------------     -------------       -------------    -------------

Interest expense:
   Interest on deposits                       1,541,823         1,928,081             756,274          921,220
   Interest on advances from the FHLB           118,524           128,108              65,366           57,515
                                          -------------     -------------       -------------    -------------
      Total interest expense                  1,660,347         2,056,189             821,640          978,735
                                          -------------     -------------       -------------    -------------

Net interest income                           2,526,637         2,045,477           1,293,355        1,016,840
   Provision for loan losses                     30,000            60,000              15,000           30,000
                                          -------------     -------------       -------------    -------------
      Net interest income after
        provision for loan losses             2,496,637         1,985,477           1,278,355          986,840
                                          -------------     -------------       -------------    -------------

Non-interest income:
   Loan and other service fees                   89,696            96,730              45,594           49,999
   Gain, net on foreclosed real estate            2,843             1,668                 400              851
   Other non-interest income, net                 7,822             1,757               3,197            1,489
                                          -------------     -------------       -------------    -------------
      Total non-interest income                 100,361           100,155              49,191           52,339
                                          -------------     -------------       -------------    -------------

Non-interest expense:
   Compensation and employee benefits           714,026           586,965             348,914          292,204
   Occupancy and equipment expense, net         115,196           108,297              57,873           53,241
   Data processing                              130,192           121,139              60,015           60,170
   Legal and other professional fees             65,194            41,872              39,824           29,924
   State franchise tax                           69,055            74,990              36,166           39,382
   Other non-interest expense                   191,903           162,767             101,471           79,647
                                          -------------     -------------       -------------    -------------
      Total non-interest expense              1,285,566         1,096,030             644,263          554,568
                                          -------------     -------------       -------------    -------------

Income before income tax expense              1,311,432           989,602             683,283          484,611

Provision for income taxes                      443,204           315,027             230,841          144,709
                                          -------------     -------------       -------------    -------------

Net income                                $     868,228     $     674,575       $     452,442    $     339,902
                                          =============     =============       =============    =============

Basic earnings per common share           $         .64     $         .50       $        .34     $         .25
                                          =============     =============       ============     =============

Diluted earnings per common share         $         .62     $         .50       $        .32     $         .25
                                          =============     =============       ============     =============

Dividends declared per common share       $         .24     $         .20       $         --     $          --
                                          =============     =============       ============     =============

Weighted average common shares
   outstanding during the period              1,365,832         1,340,336           1,366,668        1,344,470
                                          =============     =============       =============    =============

Weighted average common shares
   outstanding after dilutive effect          1,399,199         1,361,894           1,399,728        1,369,968
                                          =============     =============       =============    =============
</TABLE>

     See accompanying notes to condensed consolidated financial statements.

                                       4
<PAGE>
                        CKF BANCORP, INC. AND SUBSIDIARY
       CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
             For the Six-Month Periods Ended June 30, 2004 and 2003
                                   (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, 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   ($.20   per                                      (267,209)
share)

ESOP shares release accrual                            31,068

Issued  under  stock  option  plan
shares                                                (60,019)
                                     --------     -----------        -----------          ---------        ------------
Balance, June  30, 2003              $ 10,000     $ 9,502,503        $ 9,972,171          $  11,642        $ (4,354,309)
                                     ========     ===========        ===========          =========        ============



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

Comprehensive income:
  Net income                                                             868,228
  Other  comprehensive  gain,  net
   of tax:

    Increase in  unrealized  gains
     on securities                                                                          107,387
        Total comprehensive income

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

ESOP shares release accrual                            56,739

Purchase of common stock                                                                                        (21,006)
                                     --------     -----------       ------------         ----------        ------------
Balance, June 30, 2004               $ 10,000     $ 9,590,498       $ 10,993,940         $  281,834        $ (4,375,315)
                                     ========     ===========       ============         ==========        ============
<CAPTION>

                                              Incentive          Unearned            Total
                                                Plan               ESOP          Stockholders'
                                                Trust             Shares            Equity
                                          ----------------   ---------------    --------------
  <S>                                           <C>                <C>               <C>
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   ($.20   per
share)                                                                              (267,209)

ESOP shares release accrual                                         25,944            57,012

Issued  under  stock  option  plan
shares                                          183,394                              123,375
                                            -----------        -----------      ------------
Balance, June  30, 2003                     $  (481,897)       $  (337,270)     $ 14,322,840
                                            ===========        ===========      ============



Balance, December 31, 2003                  $  (437,999)       $  (311,326)     $ 15,067,779

Comprehensive income:
  Net income                                                                         868,228
  Other  comprehensive  gain,  net
   of tax:

    Increase in  unrealized  gains
     on securities                                                                   107,387
                                                                                ------------
        Total comprehensive income                                                   975,615

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

ESOP shares release accrual                                         25,944            82,683

Purchase of common stock                                                             (21,006)
                                            -----------        -----------      ------------
Balance, June 30, 2004                      $  (437,999)       $  (285,382)     $ 15,777,576
                                            ============       ===========      ============


</TABLE>


     See accompanying notes to condensed consolidated financial statements.

                                       5
<PAGE>

                        CKF BANCORP, INC. AND SUBSIDIARY
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                   For the Six-Month Periods
                                                                                         Ended June 30
                                                                                ------------------------------
                                                                                      2004             2003
                                                                                 -------------    -------------
<S>                                                                                   <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  NET INCOME                                                                     $    868,228     $    674,575
  ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH PROVIDED
    by operating activities:
     Amortization of premiums, net on securities                                       18,294            6,394
     Federal Home Loan Bank stock dividends                                           (34,600)         (33,100)
     Amortization of premiums on loans                                                 27,737           38,796
     Accretion of deferred loan origination fees                                      (14,226)         (12,157)
     Provision for losses on loans                                                     30,000           60,000
     ESOP benefit expense                                                              82,683           57,012
     Depreciation expense                                                              67,998           72,246
     Amortization of premiums on deposits and FHLB advances                           (49,865)         (73,841)
     Loss (gain), net on sale of real estate owned                                        106             (558)
     Deferred income tax benefit                                                      (22,556)          (8,419)
     Increase (decrease) in cash due to changes in:
      Accrued interest receivable                                                     (33,310)         104,826
      Other assets                                                                    (78,143)         (85,490)
      Accrued interest payable                                                         25,323            1,196
      Other liabilities                                                               (17,407)        (137,110)
      Current federal income taxes                                                    (10,033)         (79,639)
                                                                                -------------     ------------
        Net cash provided by operating activities                                     860,229          584,731
                                                                                -------------     ------------

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                               (987,500)      (1,000,157)
  Repayments on mortgage backed securities held-to-maturity                           553,102           45,871
  Purchase of mortgage backed securities held-to-maturity                                  --       (3,964,193)
  Net (increase) decrease in loans                                                 (7,749,576)       5,107,480
  Purchase of office property and equipment                                           (21,199)         (11,727)
  Proceeds from sale of (additions to) real estate owned                               30,152           (3,256)
                                                                                -------------     ------------
        Net cash provided (used) by investing activities                           (7,675,021)         174,018
                                                                                -------------     ------------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Net increase in deposit accounts                                                  2,043,155        1,631,287
  Net decrease in certificates of deposit                                          (2,744,802)      (2,086,265)
  Proceeds from Federal Home Loan Bank advances                                    12,000,000        4,000,000
  Repayments on Federal Home Loan Bank advances                                    (5,192,703)      (4,690,804)
  Net increase in custodial accounts                                                   81,426           93,490
  Proceeds from the exercise of stock options                                              --          123,375
  Purchase of treasury stock                                                          (21,006)              --
  Payment of dividends to stockholders                                               (327,495)        (267,209)
                                                                                -------------     ------------
        Net cash provided (used) by financing activities                            5,838,575       (1,196,126)
                                                                                -------------     ------------

Decrease in cash and cash equivalents                                                (976,217)        (437,377)

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

Cash and cash equivalents, end of period                                        $   2,816,573     $ 13,279,765
                                                                                =============     ============
</TABLE>

                                   (continued)
                                       6
<PAGE>
                        CKF BANCORP, INC. AND SUBSIDIARY
           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                   For the Six Month Periods
                                                                                         Ended June 30
                                                                                ------------------------------
                                                                                     2004              2003
                                                                                -------------    -------------
       <S>                                                                           <C>               <C>
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION:
  Cash paid for federal income taxes                                            $     475,793     $    403,085
  Cash paid for interest on deposits and FHLB advances                          $   1,684,889     $  2,128,834

SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:
  Real estate owned acquired by foreclosure                                     $      80,912     $    155,078
  Loans originated to finance sale of foreclosed real estate                    $     129,991     $     92,000
  Increase (decrease) in unrealized gains, gross on
   available-for-sale securities                                                $     162,707     $   (270,525)
</TABLE>






      See accompanying notes to condensed consolidated financial statements


                                       7
<PAGE>


                        CKF Bancorp, Inc. and Subsidiary
              Notes to Condensed 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  condensed   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 condensed consolidated financial statements have
     been prepared in accordance with accounting  principles  generally accepted
     in the United States of America ("GAAP") for interim financial  information
     and with the  instructions to Form 10-QSB and Article 10 of Regulation S-X.
     Certain information and note disclosures normally included in the company's
     annual financial  statements prepared in accordance with generally accepted
     accounting  principles  have been  condensed  or omitted.  These  condensed
     (consolidated)  financial statements should be read in conjunction with the
     (consolidated)  financial  statements  and notes  thereto  included  in the
     company's  Form  10-K  (or  10-KSB)  annual  report  for  2003  filed  with
     Securities  and  Exchange  Commission.  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 six  month  period  ended  June 30,  2004 are not  necessarily
     indicative  of results  that may be  expected  for the fiscal  year  ending
     December 31, 2004.  The  consolidated  balance sheet of the Company,  as of
     December 31, 2003, has been derived from the audited  consolidated  balance
     sheet of the Company as of that date.


2.   REGULATORY CAPITAL

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

                                                             June 30, 2004
                             ---------------------------------------------------------------------------------
                                                               For Capital                 To be Well
                                                            Adequacy Purposes           Capitalized Under
                                                                                        Prompt Corrective
                                                                                        Action Provisions
                             -------------------------   -------------------------  --------------------------
                                      Actual                    Required                      Required
                             -------------------------   -------------------------  --------------------------
                                  Amount      %              Amount       %              Amount       %
                             -------------------------   -------------------------  --------------------------
<S>                                <C>       <C>               <C>       <C>              <C>         <C>
Core capital                    $  13,476    8.97%         $    6,012   4.00%         $    9,018    6.00%
Tangible capital                   13,476    8.97%              6,012   4.00%                n/a     n/a
Total Risk based capital           14,388   15.20%              7,573   8.00%              9,467   10.00%
Tier 1 Risk based capital          13,476   14.23%                N/a    n/a               4,733    5.00%
</TABLE>


                                       8
<PAGE>

3.   EARNINGS PER SHARE

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

                                                     FOR THE SIX-MONTH PERIODS          FOR THE THREE-MONTH PERIODS
                                                            ENDED JUNE 30                         JUNE 30
                                                   -------------------------------    -------------------------------
                                                        2004             2003              2004             2003
                                                   -------------     -------------    -------------     -------------
             <S>                                        <C>              <C>                <C>              <C>
         BASIC EARNINGS PER SHARE
          Net income                                $    868,228      $    674,575     $    452,442      $    339,901
                                                    ============      ============     ============      ============
          Weighted average shares outstanding          1,365,832         1,340,336        1,366,668         1,344,470
                                                    ============      ============     ============      ============
          Basic earnings per share                  $        .64      $        .50     $        .34      $        .25
                                                    ============      ============     ============      ============

         DILUTED EARNINGS PER SHARE
          Net income                                $    868,228      $    674,575     $    452,442      $    339,901
                                                    ============      ============     ============      ============
          Weighted average shares outstanding          1,365,832         1,340,336        1,366,668         1,344,470
          Diluted effect of stock option                  33,367            21,558           33,060            25,228
                                                    ------------      ------------     ------------      ------------
          Weighted average shares outstanding
              after dilutive effect                    1,399,199         1,361,894        1,399,728         1,369,698
                                                    ============      ============     ============      ============
          Diluted earnings per share                $        .62      $       .50      $        .32      $        .25
                                                    ============      ===========      ============      ============
</TABLE>


4.   STOCK OPTIONS

     At June 30, 2004, the Company has stock-based  compensation plans which are
     described  more  fully in the  notes to the  Company's  December  31,  2003
     audited  financial  statements  contained in the Company's Annual Report on
     Form 10-KSB.  The Company  accounts for the plan under the  recognition and
     measurement  principles  of  Accounting  Principals  Board  Opinion  No 25,
     Accounting for Stock Issued to Employees, and related  Interpretations.  No
     stock-based  employee  compensation cost is reflected in net income, as all
     options  granted under those plans had an exercise  price that was equal to
     or greater to the market value of the underlying  common stock on the grant
     date. The following table illustrates the effect on net income and earnings
     per share if the Company had applied  fair value  provisions  of  Financial
     Accounting  Standards  Board  Statement  123,  Accounting  for Stock -Based
     Compensation, to stock based employee compensation.
<TABLE>
<CAPTION>


                                                      FOR THE SIX-MONTH PERIODS         FOR THE THREE-MONTH PERIODS
                                                            ENDED JUNE 30                      ENDED JUNE 30
                                                   -------------------------------    -------------------------------
                                                        2004              2003             2004              2003
                                                   -------------     -------------    -------------     -------------
            <S>                                         <C>               <C>               <C>               <C>
         Net income as reported                     $    868,228      $    674,575     $    452,442      $    339,902
         Less:  Total stock-based compensation
            determined under the fair value method,
            net of tax                                     2,139             1,733            1,073               868
                                                    ------------      ------------     ------------      ------------
         Pro forma net income                       $    866,089      $    672,842     $    451,369      $    339,034
                                                    ============      ============     ============      ============

         Basic earnings per share - as reported         $    .64          $   .50           $   .34          $    .25
         Basic earnings per share - pro forma           $    .63          $   .50           $   .33          $    .25
         Diluted earnings per share - as reported       $    .62          $   .50           $   .32          $    .25
         Diluted earnings per share - pro forma         $    .62          $   .49           $   .32          $    .24
</TABLE>


                                       9
<PAGE>

5.   DIVIDENDS

     A cash  dividend of $.24 per share was paid by the Company on February  10,
     2004 to  stockholders of record as of January 28, 2004. The total dividends
     paid by the Company  during the six months ended June 30, 2004  amounted to
     $327,495.


6.   COMMON STOCK

     The Company  purchased  1,312  shares of treasury  stock at a total cost of
     $21,006 during the six months ended June 30, 2004.

                                       10
<PAGE>

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

FORWARD-LOOKING STATEMENTS

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

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

CHANGES IN FINANCIAL CONDITION FROM DECEMBER 31, 2003 TO JUNE 30, 2004

At June 30, 2004, total assets were $151.9 million, an increase of $6.9 million,
or 4.7%,  from  $145.0  million at December  31,  2003.  The  increase in assets
included a $7.8  million  increase in loans  receivable,  a $79,000  increase in
investment  securities,  and a $976,000  decrease  in cash and  interest-bearing
deposits.  The increase in total assets was  primarily  funded by a $6.8 million
increase  in  advances  from the  Federal  Home Loan Bank and by an  increase in
stockholders' equity of $710,000. Deposits decreased by $745,000.

Investment  securities  increased by $79,000, or 0.8%, to $10.3 million,  during
the six months ended June 30, 2004.  Securities classified as available-for-sale
and  recorded at market value  increased  $163,000 due solely to the increase in
the market value of such securities.  Securities  classified as held-to-maturity
decreased by $84,000  primarily due to principal  repayments on  mortgage-backed
securities  of $553,000,  which was offset by an increase in  government  agency
bonds related to purchases of $988,000 and maturities of $500,000.

Loans receivable  increased by $7.8 million, or 6.2%, to $133.5 million,  during
the six months ended June 30,  2004.  The  increase  was  primarily  due to loan
originations  of $26.4 million and loan purchases of $2.1 million offset by loan
principal repayments of $20.4 million and loans sold of $339,000.  The allowance
for loan losses was  $630,000 at June 30, 2004  compared to $615,000 at December
31, 2003. The allowance as a percentage of loans  receivable was 0.47% and 0.49%
at June 30, 2004 and December 31, 2003, respectively.  Loan charge-offs,  net of
recoveries  amounted to $16,000  during the six months ended June 30, 2004.  The
determination  of the  allowance  for  loan  losses  is  based  on  management's
analysis, done no less frequently than on a quarterly basis, of various factors,
including market value of the underlying  collateral,  growth and composition of
the loan  portfolio,  the  relationship  of the  allowance  for loan  losses  to
outstanding loans, historical loss experience, delinquency trends and prevailing
economic  conditions.  Although management believes its allowance of loan losses
is in accordance with  accounting  principles  generally  accepted in the United
States of America and reflects current  regulatory and economic  considerations,
there can be no assurance that additional  losses will not be incurred,  or that
the Bank's  regulators or changes in the Bank's  economic  environment  will not
require further increases in the allowance.

Deposits  decreased  by $745,000,  or 0.6%,  to $120.9  million,  during the six
months ended June 30, 2004.  The decrease was due to a decrease in  certificates
of deposit of $2.7 million,  or 2.9%, and by the amortization of $44,000 related
to the premium paid on  certificates  of deposit  assumed in the  acquisition of
First Lancaster,  which were offset by an increase in deposit accounts  (demand,
savings,  NOW and money market deposit  accounts) of $2.0 million,  or 7.8%. The
increase in deposit  accounts  was due to an $866,000  increase in money  market
deposit accounts,  a $629,000  increase in NOW accounts,  a $302,000 increase in
non-interest  checking  accounts,  and a $246,000  increase in savings accounts.
Advances from the Federal Home Loan Bank increased by $6.8 million, or 98.6%, to
$13.7 million,  during the six months ended June 30, 2004 due to $5.2 million in
repayments of advances and $12.0 million in proceeds from newly issued advances.

                                       11
<PAGE>

Stockholders'  equity  increased by $710,000,  to $15.8 million,  during the six
months ended June 30, 2004. The increase during the period was due to net income
of $868,000,  the release of shares related to the employee stock ownership plan
of $83,000,  and an increase in the net  unrealized  gain on  available-for-sale
securities,  net of tax of $107,000,  which were offset by payments of dividends
to stockholders of $327,000 and by the purchase of treasury shares of $21,000.


RESULTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2004 AND 2003

NET INCOME

Net income  for the six months  ended June 30,  2004 was  $868,000  compared  to
$675,000  for the same period in 2003,  an increase of $193,000,  or 28.7%.  The
increase  resulted  from an increase in net  interest  income of $481,000  and a
decrease in the  provision  for loan  losses of $30,000,  which were offset by a
decrease in non-interest income of less than $1,000, an increase in non-interest
expense  of  $190,000,  and an  increase  in the  provision  for  income  tax of
$128,000.

INTEREST AND DIVIDEND INCOME

Interest and dividend income increased by $85,000, or 2.1%, to $4.2 million, for
the six months  ended June 30, 2004  compared  to the same  period in 2003.  The
increase in interest and  dividend  income was due to a $7.1  million,  or 5.2%,
increase from 2003 to 2004 in the  weighted-average  balance of interest-earning
assets  offset  by  an  18  basis  point   decrease  in  the  average  yield  on
interest-earning assets, to 5.86% in 2004 from 6.04% in 2003.

INTEREST EXPENSE

Interest expense decreased by $396,000,  or 19.3%, to $1.7 million,  for the six
months ended June 30, 2004 compared to the same period in 2003.  The decrease in
interest  expense was due to a 75 basis point  decrease in the average  yield of
interest-bearing  liabilities,  to 2.55% in 2004 from 3.30% in 2003  offset by a
$5.6  million,  or 4.5%,  increase  from  2003 to 2004 in the  weighted  average
balance of interest-bearing liabilities.

NET INTEREST INCOME

Net interest income  increased by $481,000,  or 23.5%, to $2.5 million,  for the
six months  ended June 30, 2004  compared to same period in 2003.  The change in
net  interest   income   attributable  to  volume  was  favorable  by  $396,000,
attributable to rate was favorable by $86,000,  and  attributable to rate/volume
was unfavorable by $1,000.  The interest rate spread amounted to 3.31% and 2.74%
during the six  months  ended June 30,  2004 and 2003,  respectively,  while the
interest margin amounted to 3.54% and 3.01% during the six months ended June 30,
2004 and 2003,  respectively.  A  significant  portion  of the  increase  in the
interest  rate  spread  in  2004  compared  to  2003  is  related  to the mix of
interest-earning  assets.  Average  loans  receivable  equaled  90.2%  of  total
interest-earning assets for the six months ended June 30, 2004 compared to 84.6%
for the six months ended June 30, 2004.

PROVISION FOR LOAN LOSSES

Provision for loan losses decreased by $30,000, or 50.0%, to $30,000 for the six
months  ended June 30,  2004  compared  to the same  period in 2003.  Management
considers many factors in determining the necessary  levels of the allowance for
loan losses, including an analysis of specific loans in the portfolio, estimated
value of the  underlying  collateral,  assessment of general  trends in the real
estate  market,   delinquency  trends,   prospective   economic  and  regulatory
conditions,  inherent loss in the loan  portfolio,  and the  relationship of the
allowance  for loan losses to  outstanding  loans.  Loans in the  portfolio  are
categorized  according to their perceived inherent level of risk. The categories
include  1-  to  4-  dwelling  unit  mortgage   loans,   other  mortgage  loans,
non-mortgage   commercial   loans,  and  consumer  loans.  An  estimate  of  the
appropriate  level of  allowance  for loan  losses  is  calculated  by  applying
risk-weighting  factors to the  aggregate  balances  of these  loan  categories.
Within a given  category,  loans  classified  as  non-performing  are assigned a
higher risk

                                       12
<PAGE>

weighting  than  performing  loans.  Management  reviews  the level of each risk
factor  periodically  and makes  appropriate  adjustments  based on  changes  in
conditions that may impact the portfolio.  Provisions for loan losses are booked
so as to maintain the allowance within a reasonable range of the estimate.

NON-INTEREST INCOME

Non-interest income increased by less than $1,000, or 0.2%, to $100,000, for the
six months  ended June 30, 2004  compared  to the same period in 2003,  and such
income amounted to, on an annualized basis,  0.14% of average assets for each of
the six month periods ended June 30, 2004 and 2003. The increase in non-interest
income was related to an increase of $6,000 in other  non-interest  income,  net
and an increase of $1,000 in gain,  net on  foreclosed  real estate,  which were
offset by a  decrease  of $7,000 in fees  charged in  connection  with loans and
service charges on deposit accounts.

NON-INTEREST EXPENSE

Non-interest  expense increased by $190,000,  or 17.3%, to $1.3 million, for the
six months  ended June 30, 2004  compared  to the same period in 2003,  and such
expense amounted to, on an annualized  basis,  1.74% and 1.56% of average assets
for the six months ended June 30, 2004 and 2003, respectively.  The increase was
due to increases in compensation and employee benefits of $127,000, in occupancy
and equipment  expense,  net of $7,000, in data processing expense of $9,000, in
legal and other professional fees of $24,000,  and in other non-interest expense
of $29,000, which were offset by a decrease in state franchise tax of $6,000.

INCOME TAXES

The  provision  for income taxes for the six months ended June 30, 2004 and 2003
was $443,000 and $315,000,  respectively, which as a percentage of income before
taxes was 33.8% for the six  months  ended  June 30,  2004 and 31.8% for the six
months ended June 30, 2003.


RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2004 AND 2003

NET INCOME

Net income for the three  months  ended June 30, 2004 was  $452,000  compared to
$340,000  for the same period in 2003,  an increase of $112,000,  or 33.1%.  The
increase  resulted  from an increase in net  interest  income of $276,000  and a
decrease in the  provision  for loan  losses of $15,000,  which were offset by a
decrease in non-interest  income of $3,000, an increase in non-interest  expense
of $90,000, and an increase in the provision for income tax of $86,000.

INTEREST AND DIVIDEND INCOME

Interest and dividend  income  increased by $119,000,  or 6.0%, to $2.1 million,
for the three  months  ended June 30, 2004  compared to the same period in 2003.
The increase in interest and dividend income was due to a $9.4 million, or 7.0%,
increase from 2003 to 2004 in the  weighted-average  balance of interest-earning
assets  offset  by  a  five  basis  point  decrease  in  the  average  yield  on
interest-earning assets, to 5.85% in 2004 from 5.90% in 2003.

INTEREST EXPENSE

Interest  expense  decreased by $157,000,  or 16.1%, to $822,000,  for the three
months ended June 30, 2004 compared to the same period in 2003.  The decrease in
interest  expense was due to a 66 basis point  decrease in the average  yield of
interest-bearing  liabilities,  to 2.49% in 2004 from 3.15% in 2003  offset by a
$7.9  million,  or 6.3%,  increase  from  2003 to 2004 in the  weighted  average
balance of interest-bearing liabilities.

                                       13
<PAGE>

NET INTEREST INCOME

Net interest income  increased by $276,000,  or 27.2%, to $1.3 million,  for the
three months ended June 30, 2004 compared to same period in 2003.  The change in
net  interest   income   attributable  to  volume  was  favorable  by  $229,000,
attributable to rate was favorable by $36,000,  and  attributable to rate/volume
was favorable by $11,000.  The interest rate spread  amounted to 3.36% and 2.75%
during the three  months ended June 30, 2004 and 2003,  respectively,  while the
interest  margin  amounted to 3.58% and 3.01% during the three months ended June
30, 2004 and 2003,  respectively.  A significant  portion of the increase in the
interest  rate  spread  in  2004  compared  to  2003  is  related  to the mix of
interest-earning  assets.  Average  loans  receivable  equaled  90.5%  of  total
interest-earning  assets for the three  months  ended June 30, 2004  compared to
83.2% for the three months ended June 30, 2004.

PROVISION FOR LOAN LOSSES

Provision  for loan losses  decreased by $15,000,  or 50.0%,  to $15,000 for the
three months ended June 30, 2004 compared to the same period in 2003. Management
considers many factors in determining the necessary  levels of the allowance for
loan losses, including an analysis of specific loans in the portfolio, estimated
value of the  underlying  collateral,  assessment of general  trends in the real
estate  market,   delinquency  trends,   prospective   economic  and  regulatory
conditions,  inherent loss in the loan  portfolio,  and the  relationship of the
allowance  for loan losses to  outstanding  loans.  Loans in the  portfolio  are
categorized  according to their perceived inherent level of risk. The categories
include  1-  to  4-  dwelling  unit  mortgage   loans,   other  mortgage  loans,
non-mortgage   commercial   loans,  and  consumer  loans.  An  estimate  of  the
appropriate  level of  allowance  for loan  losses  is  calculated  by  applying
risk-weighting  factors to the  aggregate  balances  of these  loan  categories.
Within a given  category,  loans  classified  as  non-performing  are assigned a
higher risk weighting than  performing  loans.  Management  reviews the level of
each risk factor periodically and makes appropriate adjustments based on changes
in  conditions  that may impact the  portfolio.  Provisions  for loan losses are
booked  so as to  maintain  the  allowance  within  a  reasonable  range  of the
estimate.

NON-INTEREST INCOME

Non-interest  income  decreased by $3,000,  or 6.0%,  to $49,000,  for the three
months ended June 30, 2004 compared to the same period in 2003,  and such income
amounted to, on an annualized  basis,  0.13% and 0.15% of average assets for the
three  months  ended  June 30,  2004 and 2003,  respectively.  The  decrease  in
non-interest  income  was  related to a  decrease  of $4,000 in fees  charged in
connection  with loans and  service  charges on  deposit  accounts  offset by an
increase of $1,000 in other non-interest income, net.

NON-INTEREST EXPENSE

Non-interest expense increased by $90,000, or 16.2%, to $644,000,  for the three
months ended June 30, 2004 compared to the same period in 2003, and such expense
amounted to, on an annualized  basis,  1.73% and 1.58% of average assets for the
three months ended June 30, 2004 and 2003, respectively. The increase was due to
increases in  compensation  and employee  benefits of $57,000,  in occupancy and
equipment  expense,  net of  $4,000,  in legal  and other  professional  fees of
$10,000,  and in other non-interest  expense of $22,000,  which were offset by a
decrease in state franchise tax of $3,000.

INCOME TAXES

The provision for income taxes for the three months ended June 30, 2004 and 2003
was $231,000 and $145,000,  respectively, which as a percentage of income before
taxes was 33.8% for the three months ended June 30, 2004 and 29.9% for the three
months ended June 30, 2003.


                                       14
<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,
                                                                                2004                  2003
                                                                           -------------         -------------
<S>                                                                             <C>                    <C>
Loans accounted for on a non-accrual basis(1):
    Real estate mortgage:
     One-to-four family residential                                        $     181,552         $     391,576
     Multi-family residential, non-residential, and land                         122,395               121,179
   Commercial non-mortgage                                                            --                    --
   Consumer                                                                       18,505                24,269
                                                                           -------------         -------------
       Total                                                               $     322,452         $     537,024
                                                                           =============         =============

Accruing loans which are contractually past due 90 days or more:
   Real estate mortgage:
     One-to-four family residential                                        $   1,054,779         $   1,094,486
     Multi-family residential, non-residential, and land                              --                    --
   Commercial non-mortgage                                                        15,000                    --
   Consumer                                                                       85,360                    --
                                                                           -------------         -------------
       Total                                                               $   1,155,139         $   1,094,486
                                                                           =============         =============

Total of loans accounted for as non-accrual or as accruing past
   due 90 days or more                                                     $   1,477,591         $   1,631,510
                                                                           =============         =============
Percentage of loans receivable                                                      1.11%                 1.30%
                                                                           =============         =============
Other non-performing assets(2)                                             $      52,053         $     131,390
                                                                           =============         =============
</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, 2004, interest income of $12,871 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 included in
interest income during the six months ended June 30, 2004 totaled $5,914.

At June 30, 2004 and  December  31,  2003,  there were no loans,  identified  by
management,  which were not  reflected in the preceding  table,  but as to which
known  information about possible credit problems of borrowers caused management
to have serious doubts as to the ability of the borrowers to comply with present
loan repayment terms.


LIQUIDITY AND CAPITAL RESOURCES

The Bank's  principal  sources of funds for  operations  are  deposits  from its
primary market area, principal and interest payments on loans, and proceeds from
maturing investment securities.  The principal uses of funds by the Bank include
the origination and purchase of mortgage,  commercial and consumer loans and the
purchase of investment securities.  The Bank must satisfy two capital standards,
as set by the OTS. These  standards  include a ratio of core capital to adjusted
total assets of 4.0%,  and a  combination  of core and  "supplementary"  capital
equal to 8.0% of risk-weighted assets. The Bank's capital exceeded these capital
standards at June 30, 2004.

                                       15
<PAGE>

At June 30,  2004,  the Bank had  outstanding  commitments  to  originate  loans
totaling  $1.5  million,  excluding  $1.2 million in unused home equity lines of
credit and $1.3 million in other lines of credit and standby  letters of credit.
Additionally,  the Bank had undisbursed commitments on construction loans closed
totaling $4.4 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,  2004,  totaled
$68.1  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.



                                       16
<PAGE>
PART II. OTHER INFORMATION


Item 1.  LEGAL PROCEEDINGS                                              None


Item 2. CHANGES IN SECURITIES,  USE OF PROCEEDS,
        AND ISSUER PURCHASES OF EQUITY
        SECURITIES                                                      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 20,
        2004.  1,324,262  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:

<TABLE>
<CAPTION>
                                                            Votes In                         Votes
                        Nominee                        Favor of Election                   Withheld
                ------------------------              -------------------                ------------
                        <S>                                     <C>                           <C>
                    W. Irvine Fox, Jr.                     1,323,762                          500

                    Warren O. Nash                         1,323,762                          500

                    John H. Stigall                        1,323,564                          698
</TABLE>

        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 13, 2004         7, 12                         N/A

                                       17
<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 12, 2004        /s/ John H. Stigall
                                  ----------------------------------------------
                                  John H. Stigall, President and Chief Executive
                                   Officer
                                  (Duly Authorized Officer)




Date:      August 12, 2004        /s/ Russell M. Brooks
                                  ----------------------------------------------
                                  Russell M. Brooks, Vice President and
                                   Treasurer
                                  (Principal Financial and Accounting Officer)


                                       18