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<SEC-DOCUMENT>0000950152-06-000164.txt : 20060111
<SEC-HEADER>0000950152-06-000164.hdr.sgml : 20060111
<ACCEPTANCE-DATETIME>20060111162236
ACCESSION NUMBER:		0000950152-06-000164
CONFORMED SUBMISSION TYPE:	POS AM
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20060111
DATE AS OF CHANGE:		20060111

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRAL FEDERAL CORP
		CENTRAL INDEX KEY:			0001070680
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				341877137
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		POS AM
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-129315
		FILM NUMBER:		06525076

	BUSINESS ADDRESS:	
		STREET 1:		C/O CENTRAL FEDERAL BANK
		STREET 2:		601 MAIN ST
		CITY:			WELLSVILLE
		STATE:			OH
		ZIP:			43968
		BUSINESS PHONE:		3305321517

	MAIL ADDRESS:	
		STREET 1:		C/O CENTRAL FEDERAL BANK
		STREET 2:		601 MAIN ST
		CITY:			WELLSVILLE
		STATE:			OH
		ZIP:			43968

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRAND CENTRAL FINANCIAL CORP
		DATE OF NAME CHANGE:	19980918
</SEC-HEADER>
<DOCUMENT>
<TYPE>POS AM
<SEQUENCE>1
<FILENAME>l16284gposam.htm
<DESCRIPTION>CENTRAL FEDERAL CORPORATION     FORM POS AM
<TEXT>
<HTML>
<HEAD>
<TITLE>Central Federal Corporation     Form POS AM</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="right" style="font-size: 10pt;color: #000000; background: #ffffff;">
<B>Registration
<FONT style="white-space: nowrap">No.&nbsp;333-129315</FONT></B>
</DIV>

<DIV align="center" style="font-size: 10pt;color: #000000; background: #ffffff;">
<B>As filed with the Securities and Exchange Commission on
December&nbsp;1, 2005</B>
</DIV>

<DIV align="center" style="font-size: 6pt;color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 2.0pt solid solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 3pt;color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 14pt;color: #000000; background: #ffffff; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt;color: #000000; background: #ffffff;">
<B>Washington, DC 20549</B>
</DIV>

<DIV align="center" style="font-size: 3pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<DIV style="width: 26%; border-top: 1.0pt solid solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 18pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<B>Post-Effective Amendment No.&nbsp;1</B>
</DIV>

<DIV align="center" style="font-size: 18pt;color: #000000; background: #ffffff;">
<B>on Form&nbsp;S-1/A</B>
</DIV>

<DIV align="center" style="font-size: 18pt;color: #000000; background: #ffffff;">
<B>to</B>
</DIV>

<DIV align="center" style="font-size: 18pt;color: #000000; background: #ffffff;">
<B>Form S-2</B>
</DIV>

<DIV align="center" style="font-size: 12pt;color: #000000; background: #ffffff;">
<B>REGISTRATION STATEMENT</B>
</DIV>

<DIV align="center" style="font-size: 12pt;color: #000000; background: #ffffff;">
<B>Under the Securities Act of 1933</B>
</DIV>

<DIV align="center" style="font-size: 24pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<B>Central Federal Corporation</B>
</DIV>

<DIV align="center" style="font-size: 8pt;color: #000000; background: #ffffff;">
<I>(Exact Name of Registrant as Specified in Its Charter)</I>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="51%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>34-1877137</B></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <I>(State or Other Jurisdiction of<BR>
    Incorporation or Organization)</I></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <I>(I.R.S. Employer Identification No.)</I></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="center" style="font-size: 10pt;color: #000000; background: #ffffff;">
<B>2923 Smith Road, Fairlawn, Ohio 44333</B>
</DIV>

<DIV align="center" style="font-size: 10pt;color: #000000; background: #ffffff;">
<B>330.666.7979</B>
</DIV>

<DIV align="center" style="font-size: 8pt;color: #000000; background: #ffffff;">
<I>(Address, Including Zip Code, and Telephone Number, Including
Area Code, of Registrant&#146;s Principal Executive Offices)</I>
</DIV>

<DIV align="center" style="font-size: 10pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<B>Eloise L. Mackus</B>
</DIV>

<DIV align="center" style="font-size: 10pt;color: #000000; background: #ffffff;">
<B>Senior Vice President, General Counsel and Secretary</B>
</DIV>

<DIV align="center" style="font-size: 10pt;color: #000000; background: #ffffff;">
<B>Central Federal Corporation</B>
</DIV>

<DIV align="center" style="font-size: 10pt;color: #000000; background: #ffffff;">
<B>2923 Smith Road, Fairlawn, Ohio 44333</B>
</DIV>

<DIV align="center" style="font-size: 10pt;color: #000000; background: #ffffff;">
<B>330.666.7979</B>
</DIV>

<DIV align="center" style="font-size: 8pt;color: #000000; background: #ffffff;">
<I>(Name, Address, Including Zip Code, and Telephone Number,
Including Area Code, of Agent for Service)</I>
</DIV>

<DIV align="center" style="font-size: 10pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<B><I>Copies to:</I></B>
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="52%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <B>V. Gerard Comizio<BR>
    Thacher Proffitt&nbsp;&#38; Wood LLP<BR>
    1700 Pennsylvania Avenue, NW, Suite&nbsp;800<BR>
    Washington, DC 20006<BR>
    202.347.8400</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>Stanley E. Everett<BR>
    Brouse McDowell<BR>
    Suite&nbsp;500, 388 South Main Street<BR>
    Akron, Ohio 44311<BR>
    330.535.5711</B></TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 10pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Approximate date of commencement of proposed sale to the
public:</B> As soon as practicable after the effective date of
this registration statement.
</DIV>

<DIV align="left" style="font-size: 10pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If any of the securities being registered on this Form are to be
offered on a delayed or continuous basis pursuant to
Rule&nbsp;415 under the Securities Act of 1933, check the
following
box.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="wingdings">&#111;
</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the registrant elects to deliver its latest annual report to
security holders, or a complete and legible facsimile thereof,
pursuant to Item&nbsp;11(a)(1) of this Form, check the following
box.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="wingdings">&#111;
</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If this Form is filed to register additional securities for an
offering pursuant to Rule&nbsp;462(b) under the Securities Act,
please check the following box and list the Securities Act
registration statement number of the earlier effective
registration statement for the same
offering.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="wingdings">&#111;</FONT>&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>

<DIV align="left" style="font-size: 10pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If this Form is a post-effective amendment filed pursuant to
Rule&nbsp;462(c) under the Securities Act, check the following
box and list the Securities Act registration statement number of
the earlier effective registration statement for the same
offering.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="wingdings">&#111;</FONT>&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>

<DIV align="left" style="font-size: 10pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If this Form is a post-effective amendment filed pursuant to
Rule&nbsp;462(d) under the Securities Act, check the following
box and list the Securities Act registration statement number of
the earlier effective registration statement for the same
offering.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="wingdings">&#111;</FONT>&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>

<DIV align="center" style="font-size: 10pt;color: #000000; background: #ffffff; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<B>EXPLANATORY NOTE</B>
</DIV>

<DIV align="left" style="font-size: 10pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The registrant filed its Form&nbsp;S-2 registration statement on
October&nbsp;28, 2005. Since Form&nbsp;S-2 has been eliminated
effective December&nbsp;1, 2005, the registrant is filing this
post-effective amendment to its Form&nbsp;S-2 on Form&nbsp;S-1/A.
</DIV>


<DIV align="center" style="font-size: 3pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<DIV style="width: 100%; border-top: 1.0pt solid solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 4pt;color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 2.0pt solid solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<B>PART&nbsp;II. INFORMATION NOT REQUIRED IN PROSPECTUS</B>
</DIV>

<DIV style="margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;color: #000000; background: #ffffff;">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD><B>Item&nbsp;13.<I>&nbsp;</I></B></TD>
    <TD>
    <B><I>Other Expenses of Issuance and Distribution.</I></B></TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth the estimated expenses payable by
the registrant in connection with the issuance and distribution
of the common stock. All the amounts shown are estimates.
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 11pt; margin-top: 3pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="83%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Securities and Exchange Commission Registration Fee</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,500</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Nasdaq<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>
    Fee</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Accounting Fees and Expenses*</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>60,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Printing Fees and Expenses*</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>75,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Legal Fees and Expenses *</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>225,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Transfer Agent Fees*</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Blue Skies Fees and Expenses, and Miscellaneous*</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>52,500</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total*</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>450,000</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt;color: #000000; background: #ffffff; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<DIV style="width: 18%; border-top: 1.0pt solid solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;color: #000000; background: #ffffff;">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top">
    <TD>*&nbsp;</TD>
    <TD align="left">
    Estimated</TD>
</TR>

</TABLE>

<DIV style="margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;color: #000000; background: #ffffff;">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD><B>Item&nbsp;14.<I>&nbsp;</I></B></TD>
    <TD>
    <B><I>Indemnification of Directors And Officers.</I></B></TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<B>General Corporation Law</B>
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The registrant is incorporated under the laws of the State of
Delaware. Section&nbsp;145 (&#147;Section&nbsp;145&#148;) of the
General Corporation Law of the State of Delaware (&#147;Delaware
Law&#148;), <I>inter alia</I>, provides that a Delaware
corporation:
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;color: #000000; background: #ffffff;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;may indemnify any person who was, is or is threatened
    to be made, a party to any threatened, pending or completed
    action, suit or proceeding, whether civil, criminal,
    administrative or investigative (other than an action by or in
    the right of such corporation), by reason of the fact that such
    person is or was an officer, director, employee or agent of such
    corporation, or is or was serving at the request of such
    corporation as a director, officer, employee or agent of another
    corporation or enterprise. The indemnity may include expenses
    (including attorneys&#146; fees), judgments, fines and amounts
    paid in settlement actually and reasonably incurred by such
    person in connection with such action, suit or proceeding,
    provided such person acted in good faith and in a manner he
    reasonably believed to be in or not opposed to the
    corporation&#146;s best interests and, with respect to any
    criminal action or proceeding, if he had no reasonable cause to
    believe that his conduct was illegal;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;may indemnify any person who is, was or is threatened
    to be made, a party to any threatened, pending or completed
    action or suit by or in the right of the corporation by reason
    of the fact that such person was a director, officer, employee
    or agent of such corporation, or is or was serving at the
    request of such corporation as a director, officer, employee or
    agent of another corporation or enterprise. The indemnity may
    include expenses (including attorneys&#146; fees) actually and
    reasonably incurred by any such person in connection with the
    defense or settlement of such action or suit, provided such
    person acted in good faith and in a manner he reasonably
    believed to be in or not opposed to the corporation&#146;s best
    interests and that no indemnification is permitted without
    judicial approval if the officer, director, employee or agent is
    adjudged to be liable to the corporation.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Where an officer, director, employee or agent is successful on
the merits or otherwise in the defense of any action referred to
above, the corporation must indemnify him against expenses
(including attorneys&#146; fees) actually and reasonably
incurred in connection therewith.
</DIV>

<P align="center" style="font-size: 11pt;color: #000000; background: #ffffff;">II-1

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The determination that indemnity is proper in the circumstances,
because the director or officer has met the applicable standard
of conduct, shall be made in each specific case by a majority of
the directors who are not parties to the action, by a committee
of directors designated by a majority of such non-party
directors, by independent legal counsel in a written opinion (if
there are no non-party directors or at the request of a majority
of the non-party directors) or by a majority vote of the
outstanding shares of the common stock.
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The indemnification and advancement of expenses authorized by
Section&nbsp;145 is not exclusive of other such rights under any
bylaw, agreement, vote of stockholders or disinterested
directors or otherwise, and a corporation is expressly
authorized to purchase and maintain insurance on behalf of any
person who is or was a director, officer, employee or agent of
the corporation, or is or was serving at the request of the
corporation as a director, officer, employee or agent of another
corporation or enterprise, against any liability asserted
against him and incurred by him in any such capacity, arising
out of his status as such, whether or not the corporation would
otherwise have the power to indemnify him under Section&nbsp;145.
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;102(b)(7) of Delaware Law enables a corporation, by
provision in its Certificate of Incorporation, to limit or
eliminate the personal liability of a director to the
corporation and its stockholders for breach of fiduciary duty,
except with respect to (i)&nbsp;any breach of the duty of
loyalty to the corporation or its stockholders, (ii)&nbsp;any
act or omission not in good faith or which involved intentional
misconduct or a knowing violation of law, (iii)&nbsp;certain
transactions under Section&nbsp;174 of Delaware Law, which
concerns unlawful payments of dividends, stock purchases or
redemptions or (iv)&nbsp;any transaction from which the director
a personal benefit in money, property or services to which the
director is not legally entitled.
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<B>Certificate of Incorporation</B>
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As permitted by Section&nbsp;145, Article&nbsp;Tenth of the
registrant&#146;s Certificate of Incorporation, as amended (the
&#147;Charter&#148;), provides that any director or officer of
the registrant or any person who is or was serving, at the
request of the registrant, as a director, officer, employee or
agent of another corporation or partnership, joint venture,
trust or other enterprise, including service with respect to an
employee benefit plan, shall be indemnified and held harmless by
the registrant to the fullest extent permitted by Delaware law,
as the same exists or may hereafter be amended (but in the case
of any such amendment only to the extent that such amendment
permits the registrant to provide broader indemnification rights
that Delaware law permitted the registrant to provide prior to
amendment).
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Such indemnification extends to any expense, liability or loss
(including attorneys&#146; fees, judgments, fines, ERISA excise
taxes or penalties and amounts paid in settlement) reasonably
incurred or suffered by the indemnified person.
Article&nbsp;Tenth also provides for the advancement of expenses
to be incurred in connection with the defense of any claim;
provided, however, that if Delaware law so requires, an
advancement of expenses in connection with a claim made with
respect to service as a director or officer will be provided
only if the indemnified director or officer undertakes in
writing to repay all amounts advanced if it is ultimately
determined by final judicial decision that he is not entitled to
be indemnified for such expenses.
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The right to indemnification under Article&nbsp;Tenth is not
exclusive of any other right the indemnified person may have or
acquire under any statute, agreement, vote of stockholders or
otherwise, to the extent permitted by Delaware law.
</DIV>

<P align="center" style="font-size: 11pt;color: #000000; background: #ffffff;">II-2

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Finally, Article&nbsp;Tenth provides that the registrant may
grant to any employee or agent to the fullest extent permitted
by Delaware law the rights of indemnification and advancement of
expenses available to directors and officers under
Article&nbsp;Tenth.
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As permitted by Section&nbsp;102(b)(7), Article&nbsp;Eleventh of
the Charter provides that no director of the registrant shall be
personally liable to the registrant or its stockholders for
monetary damages for breach of fiduciary duty except with
respect to (i)&nbsp;any breach of the duty of loyalty to the
registrant or its stockholders, (ii)&nbsp;any act or omission
not in good faith or which involved intentional misconduct or a
knowing violation of law, (iii)&nbsp;certain transactions under
Section&nbsp;174 of Delaware law, which concerns unlawful
payments of dividends, stock purchases or redemptions or
(iv)&nbsp;any transaction from which the director derived an
improper personal benefit.
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<B>Insurance</B>
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The registrant also maintains insurance covering certain
liabilities of the directors and the elected and appointed
officers of the registrant and its subsidiaries, including
liabilities under the Securities Act.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;color: #000000; background: #ffffff;">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD><B>Item&nbsp;15.<I>&nbsp;</I></B></TD>
    <TD>
    <B><I>Recent Sales of Unregistered Securities.</I></B></TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In 2003 Central Federal Corporation sold 312,649 shares of its
common stock to 61 accredited investors in a private placement
under Regulation&nbsp;D. The offering raised $3,119,000 in net
proceeds.
</DIV>


<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;color: #000000; background: #ffffff;">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD><B>Item&nbsp;16.</B></TD>
    <TD>
    <B><I>Exhibits.</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>See </I>the Exhibit&nbsp;Index at page
<FONT style="white-space: nowrap">E-1</FONT> of this
Registration Statement.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;color: #000000; background: #ffffff;">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD><B>Item&nbsp;17.</B></TD>
    <TD>
    <B><I>Undertakings.</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers
and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been
advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as
expressed in the Act and is, therefore, unenforceable. In the
event that a claim for indemnification against such liabilities
(other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the
registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling
person of the registrant in connection with the securities being
registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question
whether such indemnification by it is against public policy as
expressed in the Act and will be governed by the final
adjudication of such issue.
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For determining any liability under the Securities Act of 1933,
the registrant will treat the information omitted from the form
of prospectus filed as part of this registration statement in
reliance upon Rule&nbsp;430A and contained in a form of
prospectus filed by the registrant pursuant to
Rule&nbsp;424(b)(1) or (4)&nbsp;or 497(h) under the Securities
Act as part of this registration statement as of the time it was
declared effective.
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For determining any liability under the Securities Act of 1933
to any purchaser, the registrant will treat each post-effective
amendment that contains a form of prospectus as a new
registration statement for the securities offered in the
registration statement, and the offering of the securities at
that time as the initial <I>bona fide </I>offering of those
securities.
</DIV>

<P align="center" style="font-size: 11pt;color: #000000; background: #ffffff;">II-3

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<B>SIGNATURES</B>
</DIV>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the requirements of the Securities Act of 1933, the
Registrant certifies that it has reasonable grounds to believe
that it meets all of the requirements for filing on Form
<FONT style="white-space: nowrap">S-1/A</FONT> this post-effective amendment to
<FONT style="white-space: nowrap">Form&nbsp;S-2</FONT> and has
duly caused this amendment to be signed on its behalf by the
undersigned, thereunto duly authorized in Fairlawn, Ohio, as of
the 11th&nbsp;day of January, 2006.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;color: #000000; background: #ffffff;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    CENTRAL FEDERAL CORPORATION</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    By:&nbsp;/s/ Eloise L. Mackus</TD>
</TR>

<TR valign="top"  style="font-size: 3pt;color: #000000; background: #ffffff;">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid solid black; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Eloise L. Mackus, Secretary</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 11pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the requirements of the Securities Act of 1933, this
post-effective amendment to
Registration Statement has been signed by the following persons
in the capacities indicated on January&nbsp;11, 2006.
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 11pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="41%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD colspan="3" align="center" nowrap><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Title</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    /s/ David C. Vernon<BR>
    <HR size="1" noshade>David C. Vernon</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Chairman of the Board</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    /s/ Mark S. Allio<BR>
    <HR size="1" noshade>Mark S. Allio</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Vice Chairman of the Board; President and Chief Executive
    Officer (principal executive officer)</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    /s/ Therese Ann Liutkus<BR>
    <HR size="1" noshade>Therese Ann Liutkus</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Treasurer and Chief Financial Officer (principal<BR>
    financial officer and principal accounting officer)</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    /s/ Jeffrey W. Aldrich<BR>
    <HR size="1" noshade>Jeffrey W. Aldrich</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Director</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    /s/ Thomas P. Ash<BR>
    <HR size="1" noshade>Thomas P. Ash</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Director</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    /s/ W. R. Downing<BR>
    <HR size="1" noshade>W. R. Downing</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Director</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    /s/ Gerry W. Grace<BR>
    <HR size="1" noshade>Gerry W. Grace</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Director</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    /s/ Jerry F. Whitmer<BR>
    <HR size="1" noshade>Jerry F. Whitmer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Director</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 11pt;color: #000000; background: #ffffff;">II-4
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 11pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>CENTRAL FEDERAL CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 11pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EXHIBIT INDEX</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 11pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="3" align="center" nowrap><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="3" align="center" nowrap><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Document Name</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>&nbsp;1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Underwriting Agreement</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>3</TD>
    <TD align="left" valign="top" nowrap>.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Certificate of Incorporation of the registrant (incorporated by
    reference to Exhibit&nbsp;3.1 to the registrant&#146;s
    Registration Statement on Form&nbsp;SB-2 No.&nbsp;333-64089
    filed with the Commission on September&nbsp;23, 1998)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>3</TD>
    <TD align="left" valign="top" nowrap>.2</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Amendment to Certificate of Incorporation of the registrant
    (incorporated by reference to Exhibit&nbsp;3.2 to the
    registrant&#146;s Registration Statement on Form&nbsp;S-2
    No.&nbsp;333-129315 filed with the Commission on
    October&nbsp;28, 2005)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>3</TD>
    <TD align="left" valign="top" nowrap>.3</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Amended and Restated Bylaws of the registrant (incorporated by
    reference to Exhibit&nbsp;3.3 to the registrant&#146;s
    Registration Statement on Form&nbsp;S-2 No.&nbsp;333-129315
    filed with the Commission on October&nbsp;28, 2005)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Form of Stock Certificate of the registrant (incorporated by
    reference to Exhibit&nbsp;4.0 to the registrant&#146;s
    Registration Statement on Form&nbsp;SB-2 No.&nbsp;333-64089
    filed with the Commission on September&nbsp;23, 1998)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Opinion of Brouse McDowell, A Legal Professional Association, on
    legality of common stock (incorporated by reference to
    Exhibit&nbsp;5 to the registrant&#146;s Registration Statement
    on Form&nbsp;S-2 No.&nbsp;333-129315 filed with the Commission
    on October&nbsp;28, 2005)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>10</TD>
    <TD align="left" valign="top" nowrap>.1*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Salary Continuation Agreement between CFBank and David C. Vernon
    (incorporated by reference to Exhibit&nbsp;10.1 to the
    registrant&#146;s Form&nbsp;10-KSB for the fiscal year ended
    December&nbsp;31, 2004, filed with the Commission on
    March&nbsp;30, 2005)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>10</TD>
    <TD align="left" valign="top" nowrap>.2*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Employment Agreement between CFBank and Richard J.
    O&#146;Donnell (incorporated by reference to Exhibit&nbsp;10.2
    to the registrant&#146;s Form&nbsp;10-KSB for the fiscal year
    ended December&nbsp;31, 2004, filed with the Commission on
    March&nbsp;30, 2005)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>10</TD>
    <TD align="left" valign="top" nowrap>.3*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Employment Agreement between the registrant and David C. Vernon
    (incorporated by reference to Exhibit&nbsp;10.1 to the
    registrant&#146;s Form&nbsp;10-KSB for the fiscal year ended
    December&nbsp;31, 2003, filed with the Commission on
    March&nbsp;30, 2004)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>10</TD>
    <TD align="left" valign="top" nowrap>.4*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Amendment to Employment Agreement between the registrant and
    David C. Vernon (incorporated by reference to Exhibit&nbsp;10.3
    to the registrant&#146;s Form&nbsp;10-KSB for the fiscal year
    ended December&nbsp;31, 2004, filed with the Commission on
    March&nbsp;30, 2005)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>10</TD>
    <TD align="left" valign="top" nowrap>.5*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Amendment to Employment Agreement between CFBank and David C.
    Vernon (incorporated by reference to Exhibit&nbsp;10.4 to the
    registrant&#146;s Form&nbsp;10-KSB for the fiscal year ended
    December&nbsp;31, 2004, filed with the Commission on
    March&nbsp;30, 2005)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>10</TD>
    <TD align="left" valign="top" nowrap>.6*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Second Amendment to Employment Agreement between the registrant
    and David C. Vernon (incorporated by reference to
    Exhibit&nbsp;10.5 to the registrant&#146;s Form&nbsp;10-KSB for
    the fiscal year ended December&nbsp;31, 2004, filed with the
    Commission on March&nbsp;30, 2005)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>10</TD>
    <TD align="left" valign="top" nowrap>.7*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Second Amendment to Employment Agreement between CFBank and
    David C. Vernon (incorporated by reference to Exhibit&nbsp;10.6
    to the registrant&#146;s Form&nbsp;10-KSB for the fiscal year
    ended December&nbsp;31, 2004, filed with the Commission on
    March&nbsp;30, 2005)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Statement Re: Computation of Per Share Earnings (incorporated by
    reference to Exhibit&nbsp;11 to the registrant&#146;s
    Registration Statement on Form&nbsp;S-2 No.&nbsp;333-129315
    filed with the Commission on October&nbsp;28, 2005)</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>21</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Subsidiaries of the registrant (incorporated by reference to
    Exhibit&nbsp;21 to the registrant&#146;s Registration Statement
    on Form&nbsp;S-2 No.&nbsp;333-129315 filed with the Commission
    on October&nbsp;28, 2005)</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 11pt;">E-1

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 11pt; ">

<TR style="font-size: 1pt;">
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="3" align="center" nowrap><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="3" align="center" nowrap><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Document Name</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>23</TD>
    <TD align="left" valign="top" nowrap>.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Consent of Independent Registered Public Accounting Firm</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>23</TD>
    <TD align="left" valign="top" nowrap>.2</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Consent of Brouse McDowell (included in Exhibit&nbsp;5)&nbsp;</TD>
</TR>

<TR>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>24</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Power of Attorney (incorporated by reference to Exhibit&nbsp;24
    to the registrant&#146;s Registration Statement on Form&nbsp;S-2
    No.&nbsp;333-129315 filed with the Commission on
    October&nbsp;28, 2005)</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;">

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    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top">
    <TD>*&nbsp;</TD>
    <TD align="left">
    Denotes management contract or other compensatory plan or
    arrangement</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 11pt;">E-2
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