SECURITIESUNITED STATESSECURITIES AND EXCHANGE COMMISSION Washington, DC 20549

Washington, DC 20549

FORM 8-K

CURRENT ~~REPORT~~REPORTPursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

~~Pursuant~~Date ~~to Section 13 or 15(d)~~ of ~~the Securities Exchange Act~~Report: ofFebruary ~~1934~~11, 2005

~~Date~~CLARKSTON ofFINANCIAL CORPORATION ~~Report:~~(Exact ~~April~~Name of ~~26,~~Registrant ~~2004~~as Specified in Charter)

~~CLARKSTON~~Michigan ~~FINANCIAL CORPORATION~~(~~Exact~~State ~~name~~or other jurisdiction of ~~registrant~~incorporation) ~~as specified~~15 inSouth ~~its~~Main ~~charter~~Street Clarkston, Michigan (Address of principal executive office) 333-63685 (Commission File Number) 38-3412321 (IRS Employer Identification no.) 48346 (Zip Code)

~~Michigan~~Registrant’s telephone ~~(State or other jurisdiction of incorporation) 15 South Main Street Clarkston~~number, ~~Michigan~~including ~~(Address~~area ofcode: ~~principal executive office) 333-63685~~ (~~Commission File Number~~248) 38625-~~3412321~~8585 ~~(IRS Employer Identification no.) 48326 (Zip Code)~~

~~Registrant’s telephone~~Check ~~number,~~the ~~including~~appropriate ~~area~~box ~~code:~~below ~~(248)~~if the ~~625~~Form 8-~~8585~~K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

~~Item~~[ 7] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ~~Financial~~[ ~~Statements~~] ~~and~~Soliciting ~~Exhibits~~material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12). [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240-14d-2(b)). [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

ExhibitSection 2.02 Results of Operations and Financial Condition.

~~99.1 Press~~On February 11, 2005, Clarkston Financial Corporation issued a press release ~~dated~~announcing results for the fourth ~~April~~quarter 26and year ended December 31, 2004. A copy of the press release is attached as Exhibit 99.1. The information in this Form 8-K and the attached Exhibit shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

ItemSection 129.01 ResultsFinancial ofStatements Operations and Financial ConditionExhibits.

~~On April 26, 2004, Clarkston Financial Corporation issued a press release announcing results for the first fiscal quarter ended March 31, 2004. A copy of the press release is attached as~~ Exhibit 99.1. The information in this Form 8-K and the attached Exhibit shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

~~SIGNATURE~~99.1 Press release dated February 11, 2005.

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

~~Dated:~~ Pursuant to ~~April~~the 26requirements of the Securities Exchange Act of 1934, ~~2004~~the ~~CLARKSTON~~registrant ~~FINANCIAL~~has ~~CORPORATION~~duly ~~(Registrant)~~caused this ~~By:~~report ~~/s/~~to J.be ~~Grant~~signed ~~Smith~~on ~~——————————————~~its J.behalf ~~Grant~~by ~~Smith~~the ~~Chief~~undersigned ~~Financial~~thereunto ~~Officer~~duly authorized.

Dated: February 11, 2005

CLARKSTON FINANCIAL CORPORATION
(Registrant)

By: /s/ J. Grant Smith
      ——————————————
      J. Grant Smith
      Chief Operating Officer and
            Chief Financial Officer

EXHIBIT INDEX

99.1 Press Release dated ~~April~~February 2611, ~~2004~~2005 with respect to financial results for ~~the~~fourth ~~first~~quarter ~~fiscal~~and ~~quarter~~year ended ~~March~~December 31, 2004.

EXHIBIT 99.1

Contacts
•	Clarkston Financial Corp. – Dawn Horner, President & CEO or Grant Smith, SVP & CFO — P:248 625-8585
•	Marcotte Financial Relations – Mike Marcotte P:248 656-3873

Contacts:
Clarkston Financial Corp.: Grant Smith, COO and CFO — P: 248 625-8585
Marcotte Financial Relations: Mike Marcotte — P: 248 656-3873

CLARKSTONClarkston FINANCIALFinancial CORPCorp 2004 Earnings Blunted by New-Branch and New-Bank Expenses.Q1 EARNINGSAssets JUMPRise 4115%17, ConsecutiveWhile QuartersLoans ofJump ProfitabilityNew-33% Fifth Branch PlansOpened FinalizedConstruction ForUnderway Immediateon ReleaseNew De Novo Bank in Milford

CLARKSTON, Mich., ~~April~~Feb. 2610, ~~2004~~2005 — Clarkston Financial Corporation (OTCBB: CKSB), ~~posted a~~the ~~41%~~holding ~~jump~~company infor ~~net~~Clarkston ~~income~~State ~~for~~Bank, ~~the~~says ~~first~~earnings ~~quarter~~growth ofwas ~~2004,~~muted ~~compared~~by start-up ~~with~~costs Q1for ~~2003,~~a ~~marking~~new ~~the corporation’s~~branch ~~17th~~and ~~consecutive~~the ~~quarter~~formation of ~~growth~~a ~~and~~new ~~profitability.~~De ~~The positive~~Novo ~~results~~bank ~~were~~consistent ~~announced~~with the ~~today~~Corporation’s bygrowth plans, Edwin L. Adler, Board Chairman, and ~~Dawn M~~J. ~~Horner~~ Grant Smith, Chief ~~Bank~~Operating ~~President~~Officer and ~~CEO~~Chief Financial Officer, jointly announced today.

Clarkston Financial Corporation is the holding company for Clarkston State Bank, awhich ~~full service community bank that~~ opened ~~for business~~ in January 1999, and ~~now~~ operates ~~four~~ five branches in Clarkston, Waterford, and Independence Township, ~~Michigan~~Mich. ~~A fifth branch is planned to open in downtown Clarkston in late 2004.~~

Net income for the three months ended March 31, 2004, was $302,000, or $0.28 per diluted share, compared with net income of $214,000 or $0.21 per diluted share, for the first Fourth-quarter of 2003. results

~~Net~~The ~~interest~~Corporation posted strong operating results. Net income ~~rose~~for ~~nearly~~the ~~36%~~final quarter was $327,000, equivalent to $10.31 per diluted share,~~199~~ compared with record net income of $479,000, ~~from~~or $~~883~~0.46 per diluted share,~~000~~ afor ~~year~~the ~~ago~~final quarter of 2003. ~~The~~A ~~increase~~24% ~~is from~~rise ~~loan~~in ~~growth~~net interest income and ~~improved~~88% ~~margins.~~jump ~~Non-interest~~in noninterest income ~~was~~were ~~$134,000,~~offset ~~off~~by 58an 89% ~~from $317,000~~jump in Q1operating expense ~~2003.~~– ~~The~~directly ~~results~~related ~~for~~to the ~~first~~opening ~~quarter~~in December of ~~2003~~a ~~included~~new ~~substantial~~branch ~~gains~~near downtown ~~from~~Clarkston ~~the~~and ~~sale~~start-up ofcosts ~~investment~~for ~~securities~~a asnew ~~the~~De ~~Corporation~~Novo ~~continued~~bank ~~its~~in ~~strategy~~Milford, ~~of repositioning~~Mich. ~~lower-earning~~The ~~assets~~new ~~into~~bank, ~~higher-earning~~Huron Valley ~~loans.~~State ~~There~~bank, ~~were~~is noexpected ~~comparable gains~~open in the ~~first~~third quarter of 2005, contingent on regulatory approvals. The new bank will replace a Loan Production Office that opened in November 2004.

Non12-interest expense rosemonth 26%, to $850,000. The increase is primarily attributable to staff additions to support business growth. The Bank added a new branch manager, commercial loan officer and credit analyst during the quarter. results

~~The~~Full-year results ~~for~~were ~~the~~solid, ~~quarter~~albeit ~~include~~off afrom ~~loan-loss~~2003‘s ~~allowance~~record ofresults. Net income was $801,277,000, or $1.20 per diluted share, compared with ~~a loan-loss~~net ~~allowance~~income of $~~243~~1,468,000, ~~for~~or ~~the~~$1.41 ~~first~~per ~~quarter~~diluted share, offor 2003. ~~The~~Net ~~allowance~~interest ~~stands~~income ~~at 1.19~~rose 26%, ofwhile ~~outstanding~~noninterest ~~loans~~income slipped 37%. Noninterest ~~Non~~expense climbed 34%. The loan-~~performing~~loss ~~loans,~~provision asfor athe ~~percentage~~year ofwas ~~total~~reduced ~~loans,~~by a ~~decreased~~third, inreflecting Q1continuing ~~2004~~high ~~compared~~loan ~~with~~quality Q4and ~~2003~~nominal charge-offs.

~~more~~ Both assets and loans had double-digit growth. Assets rose nearly 15% to $163,379,000 and gross loans outstanding grew 34% to $112,186,000. Deposits increased 5%, finishing the year at $133,266,000, despite the persistent low interest-rate environment.

~~Clarkston~~more ~~Financial Corp.~~

Q1Clarkston Financial Corp.Q4/12-month 2004 ~~resultsPage~~results Page 2

The ~~balance~~solid ~~sheet~~increase ~~grew~~in ~~stronger:~~net ~~Assets~~interest income for the year reflects both double-digit loan growth and improvement in the net interest margin. The net interest margin rose to 3.342% toin ~~$147~~2004,~~281,000;~~ from ~~loans increased 4~~3.415% ~~to $87~~for 2003,~~719,000;~~ and ~~deposits~~was ~~grew~~aided by ~~2.7%~~the toFederal ~~$130,040,000~~Reserve’s five interest rate hikes.

~~Mr.~~Noninterest ~~Adler~~income ~~said,~~was ~~“Our~~up ~~Board~~88.5% isfor ~~quite pleased with~~ the ~~Bank’s~~final ~~growth and performance~~quarter, ~~especially~~but ~~since~~off ~~the~~36.8% ~~first~~for ~~quarter of~~ the full year. isThe ~~traditionally our~~decrease ~~slowest~~reflects ~~from~~significantly ahigher ~~commercial-lending~~bank ~~standpoint.~~charges Weand ~~have~~fees, aoffset ~~great~~by ~~team~~a indecrease ~~place. We~~in ~~have~~mortgage-related ~~substantial~~fees ~~high-quality~~and ~~lending~~lower ~~volume~~gains inon the ~~pipeline.~~sale ~~And~~of ~~we’re optimistic~~securities. ~~about~~These ~~the~~gains ~~second~~were substantial ~~quarter~~in ~~and second half~~2003.”

~~Mrs~~Mr. ~~Horner~~Adler ~~noted~~said, ~~that~~“2004 ~~the~~was ~~Bank~~a ~~had~~benchmark ~~finalized~~year. ~~plans~~At ~~for~~the aBank ~~new~~level, ~~branch~~we ~~office in~~gained ~~downtown~~marketshare, ~~Clarkston.~~expanded ~~Plans~~our ~~for~~team, ~~the~~and ~~new~~opened ~~3,200-square-foot~~a ~~branch~~new ~~office~~and ~~include~~stunning afull-service ~~full~~branch ~~service~~near ~~lobby,~~downtown ~~conference~~Clarkston. ~~rooms,~~It 24includes drive-~~hour~~in ~~ATM,~~windows ~~offstreet~~— ~~parking,~~our ~~and~~first ~~drive-thru~~for ~~service.~~the ~~The~~Clarkston ~~new~~and ~~branch~~surrounding ~~office~~Independence isTownship ~~scheduled to open in the fourth quarter~~markets.

~~She~~“At ~~added~~the Holding-Company level, “we opened a new chapter of our strategic plan with the start of a new bank in nearby Milford. We are nearing regulatory acceptance of our application. Our Holding Company will contribute about $4.4 million of the $8 million start-up cost. We will own 55% of the new ~~Internet~~bank. ~~banking~~The ~~service~~balance ~~has~~of ~~proven~~funds towill become ~~very~~from ~~popular~~local investors. ~~Launched~~A ingroup ~~mid~~of respected Milford-~~February,~~area itbusiness ~~already~~leaders has ~~more~~formed ~~than~~the ~~600~~Board ~~customer~~of ~~accounts~~Directors, ~~signed-up~~with two of our directors sitting on the new Board.” David H. Blossey, who joined us in [October], will serve as president and CEO and a member of the Board.

~~Safe~~“Growth ~~Harbor.~~has ~~This~~a news release contains comments or information that constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995), which involve significant risks and uncertaintiescost. ~~Actual~~Our ~~results~~operating ~~may~~expenses ~~differ~~rose ~~materially from~~considerably ~~the results discussed in the forward-looking statements. Factors that may cause such a difference include: changes in interest rates~~ and ~~interest-rate~~our ~~relationships;~~earnings ~~demand for~~were ~~products~~impacted ~~and services; the degree of competition by traditional and non-traditional competitors; changes~~ in ~~banking regulation; changes in tax laws; changes in prices,~~ ~~levies,~~2004 and ~~assessments;~~will ~~the~~likely ~~impact~~be ofblunted ~~technological~~somewhat ~~advances; governmental and regulatory policy changes; the outcomes of contingencies; trends~~ in ~~customer behavior and their ability to repay loans; changes in the national and local economy; and other factors included in the Corporation’s filings with the Securities and Exchange Commission~~2005, ~~available~~ ~~via~~as ~~EDGAR~~well.” ~~The Corporation assumes no responsibility to update forward-looking statements.~~

~~more(financial~~ Mr. ~~schedules~~ Smith ~~follow)~~added: “The past year was tough, with soft loan demand and low interest rates it was a true test of our team’s mettle. They passed with flying colors. We finished a major ground-up construction project, on time and on budget; started a new bank; added customers, introduced several new products, and increased loans and improved our net interest margin. While the dust was settling, we took over additional space to build-out at our Waterford branch-office complex. There, we will consolidate some accounting and deposit operations, plus increase our presence in that growing market.

“We are thankful for the continued support of businesses and consumers across Clarkston ~~Financial~~and Independence ~~Corporation~~Township. ~~Quarterly~~We ~~Financial~~believe ~~Summary~~that ~~First~~our ~~Quarter~~growth ~~2004~~will ~~(000's~~continue ~~Omitted)~~in 2005, especially with the help of our new branch which adds greatly to customer convenience.”

PERFORMANCE RATIOS	QUARTER
SUMMARY OF OPERATIONS	Three Months EndedMarch 31						Percent
	2004			2003			Change
Net Interest Income		1,199			883			35.8	%
Provision for Loan Losses		80			243			-67.1	%
Non-Interest Income		134			317			-57.7	%
Non-Interest Expense		850			674			26.1	%
Pre-Tax Income		402			283			42.0	%
Net Income		302			214			41.1	%
Net Income Per Share	$	0.29		$	0.21			38.1	%
Net Interest Margin
(Qtrly Avg. Assets		3.30	%		2.97	%		11.1	%
Return on Average Equity		10.46	%		8.80	%		18.9	%
Return on Average Assets		0.84	%		0.73	%		15.1	%
BALANCE SHEET HIGHLIGHTS	December 312003			March 312004			Percent Chg.Prior Qtr.
Assets	$	142,617		$	147,281			3.27	%
Loans (Gross)		84,052			87,719			4.36	%
Deposits		126,643			130,040			2.68	%
Interest Earning Assets		138,630			140,666			1.47	%
Shareholders' Equity		11,232			11,996			6.80	%
Book Value per Share	$	10.81		$	11.54			6.75	%
Total Shares Outstanding		1,039,184			1,039,264			0.01	%

Clarkston Financial Corp.
Q4/12-month 2004 results
Page 3

Safe Harbor. This news release contains comments or information that constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and which involve risks and uncertainties. Actual results may differ materially from those discussed in the forward-looking statements. Factors that might cause such a difference include: changes in interest rate and interest-rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking regulations; changes in tax laws; changes in prices, levies, and assessments; the impact of technological advances; government and regulatory policy changes; the outcomes of contingencies; trends in customer behavior and their ability to repay loans; changes in the national and local economy; and other factors included in the Corporation’s filings with the Securities and Exchange Commission and available free via EDGAR. The Corporation assumes no responsibility to update forward-looking statements.

(financial schedule follows)

Clarkston Financial Corporation
Quarterly Financial Summary
2004 (000's Omitted)

SUMMARY OF OPERATIONS	Three Months Ended December 31						Percent			Year-to-Date December 31						Percent
	2004			2003			Change			2004			2003			Change

Net Interest Income		1,461			1,182			23.6	%		5,237			4,170			25.6	%
Provision for Loan Losses		35			-			100.0	%		330			496			-33.5	%
Non-Interest Income		247			131			88.5	%		717			1,134			-36.8	%
Non-Interest Expense		1,239			771			60.7	%		3,969			2,973			33.5	%
Pre-Tax Income		434			542			-19.9	%		1,655			1,835			-9.8	%

Net Income		327			479			-31.7	%		1,277			1,468			-13.0	%

Net Income Per Share (Fully Diluted)	$	0.31		$	0.46			-32.6	%	$	1.20		$	1.41			-14.9	%
Net Interest Margin (Period Avg. Assets)		3.61	%		2.59	%		39.4	%		3.42	%		3.15	%		8.6	%

PERFORMANCE RATIOS	QUARTER ANNUALIZED									LAST TWELVE MONTHS
Return on Average Equity		10.82	%		12.75	%		-15.1	%		10.90	%		13.96	%		-21.9	%
Return on Average Assets		0.81	%		1.09	%		-25.7	%		0.83	%		1.11	%		-25.2	%


BALANCE SHEET HIGHLIGHTS	December 31 2003			December 31 2004			Percent Chg. Prior Qtr.

Assets	$	142,617		$	163,379			14.56	%
Loans (Gross)		84,052			112,186			33.47	%
Deposits		126,643			133,266			5.23	%
Interest Earning Assets		137,768			157,206			14.11	%
Shareholders' Equity (Adj for FASB 115)		11,232			12,201			8.63	%
Book Value per Share		$10.81			$11.67			7.96	%
Total Shares Outstanding		1,039,184			1,045,909			0.65	%

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