Earnings Per Share

6 Months Ended

Jun. 30, 2011

4. Earnings Per Share

Basic earnings per share is computed based upon the weighted-average common shares outstanding during the period, less shares in the ESOP that are unallocated and not committed to be released plus shares in the ESOP that have been allocated. The weighted average common shares outstanding includes 5,455,313 shares held by Cheviot Mutual Holding Company. Weighted-average common shares deemed outstanding gives effect to 107,126 and 142,833 unallocated shares held by the ESOP for the three and six months ended June 30, 2011 and 2010, respectively.

	For the six months ended				For the three months ended
	June 30,				June 30,
	2011		2010		2011		2010

Weighted-average common shares outstanding (basic)		8,757,782		8,724,677		8,757,782		8,723,494

Dilutive effect of assumed exercise of stock options		9,661		9,486		10,187		9,456

Weighted-average common shares outstanding (diluted)		8,767,443		8,734,163		8,767,969		8,732,950

- Definition

The entire disclosure for earnings per share.

+ References+ Details

CHEVIOT FINANCIAL CORP 10-Q