EXHIBIT 99.1

[CFS Bancorp, Inc. Letterhead]

June 30, 2004
FOR IMMEDIATE RELEASE

CONTACT:  Thomas F. Prisby, Chairman of the Board and Chief Executive Officer
          2l9-836-5500

               CFS BANCORP, INC. DECLARES CASH DIVIDEND

MUNSTER, IN - June 30, 2004 - CFS Bancorp, Inc. (NASDAQ: CITZ) announced today
that its Board of Directors declared a quarterly cash dividend on June 28,
2004 of $0.11 (eleven cents) per share on the common stock of the Company. The
dividend will be paid on July 30, 2004 to the stockholders of record at the
close of business on July 9, 2004.

CFS Bancorp, Inc. has paid a cash dividend each quarter since its initial
public offering in July 1998.

CFS Bancorp, Inc. is the parent of Citizens Financial Services, FSB, a $1.5
billion asset federal savings bank.  Citizens Financial Services provides
community banking services and operates 22 offices throughout adjoining
markets in Chicago's Southland and Northwest Indiana.

This press release may contain certain forward-looking statements and
information relating to the Company that are based on the beliefs of
management as well as assumptions made by and information currently available
to management.  The words "anticipate," "believe," "estimate," "expect,"
"indicate" "intend," "should," and similar expressions, or the negative
thereof, as they relate to the Company or the Company's management, are
intended to identify forward-looking statements.  Such statements reflect the
current views of the Company with respect to future events that are subject to
certain risks and uncertainties that may cause actual results to vary.  The
Company does not intend to update these forward-looking statements.

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