UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 31, 2003
CENTRAL FEDERAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-25045 34-1877137
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification Number)
601 Main Street, Wellsville, Ohio 42968 (330) 532-1517
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(Address of principal executive offices) (Zip Code) (Registrant's Telephone Number)
ITEM 5. OTHER EVENTS AND REQUIRED FD DISCLOSURE
On December 31, 2003, the registrant issued a press release announcing that its
subsidiary, Central Federal Bank had elected to prepay fixed rate Federal Home
Loan Bank borrowings totaling $11.2 million. These borrowings had an average
cost of 5.52 percent and an average remaining maturity of 4.5 years. The
repayment will result in a charge of $1.3 million ($838 thousand after tax, or
$.41 per diluted share for the quarter ended December 31, 2003) as a result of a
penalty associated with prepaying the loans.
A copy of the press release is included as Exhibit 99 to this Current Report on
Form 8-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
99 Press release issued on December 31, 2003
SIGNATURES
Pursuant to 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 hereunto duly authorized.
Central Federal Corporation
Date: December 31, 2003 By: /s/ Therese Ann Liutkus
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Therese Ann Liutkus, CPA
Chief Financial Officer