8-K

                       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): June 18, 2003

                           CENTRAL FEDERAL CORPORATION
             (Exact name of registrant as specified in its charter)


           Delaware                      0-25045               34-1877137
(State or other jurisdiction of        (Commission           (IRS employer
 incorporation or organization)        file number)      identification number)


   601 Main Street, Wellsville, Ohio          43968           (330) 531-1517
(Address of Principal Executive Offices)   (Zip Code)       (Telephone Number)



Item 5     Other Events and Required FD Disclosure

           On June 18, 2003, the registrant issued a press release announcing
           that it will open an office in a new building to be constructed on
           the northwest corner of Smith and Ghent Roads in Fairlawn, Ohio. The
           office will open during the first quarter of 2004, but in the interim
           a temporary office has been established at 2841 Riviera Drive, Suite
           300, Fairlawn, Ohio. A copy of the press is included as Exhibit 99.1
           to this Current Report on Form 8-K.

Item 7     Financial Statements, Pro Forma Financial Information and Exhibits.

           (c)  Exhibits

           99.1     Press Release dated June 18, 2003, announcing the opening of
                    an office in Fairlawn, Ohio.

           99.2     Press Release dated June 20, 2003, announcing a cash
                    dividend of $0.09 per share of common stock payable July 18,
                    2003 to shareholders of record on July 7, 2003.

Item 12    Results of Operations and Financial Condition

           On June 20, 2003, Central Federal Corporation announced that its
           Board of Directors had declared a cash dividend of $0.09 per share of
           common stock payable July 18, 2003 to shareholders of record on July
           7, 2003. A copy of the press release announcing the dividend is
           included as Exhibit 99.2 to this Current Report on Form 8-K.



                                    SIGNATURE

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

Dated: June 20, 2003                    By: /s/ David C. Vernon
                                            ---------------------
                                            David C. Vernon
                                            President

EX-99.1

                                                                    EXHIBIT 99.1

PRESS RELEASE

                                                           FOR IMMEDIATE RELEASE


Central Federal Bank to open Fairlawn office
Raymond E. Heh named Regional President; Mark S. Allio joins Central Federal
Board

The synergy behind Fairlawn's newest financial services company, Central Federal
Bank, is the work of one man's vision and the partnership of long-time bank
executives: David C. Vernon, former Founder and President of Summit Bank;
Raymond E. Heh, former Bank One Akron Regional President; Parker MacDonell,
former Bank One Columbus Senior Vice President; Edward L. Baumgardner, former
President of Potters Bank and Potters Financial Corporation; and Mark S. Allio,
former President of Third Federal Savings, Cleveland. Central Federal Bank is a
subsidiary of Central Federal Corporation (Nasdaq: GCFC).

The venture began in January when Vernon became Chairman and CEO of Central
Federal Corporation and Central Federal Bank. With his leadership came a new
vision for the 111-year-old company - to expand beyond its offices in eastern
Ohio by establishing offices in Fairlawn and Columbus.

Central Federal Bank, which has offices in Wellsville and Calcutta, Ohio, was
founded in 1892 in Wellsville, an industrial community on the Ohio River that
grew up around the flourishing pottery industry.

Vernon, who founded Summit Bancorp and Summit Bank in 1991, has always had a
vision for establishing and managing banks. Under his leadership, Summit Bank
achieved significant success before merging with Signal Corp. of Wooster, Ohio,
in 1997. Signal was acquired by FirstMerit in 1999.

"Growth requires vision but also talent, and that's the reason we have come
together and embraced this opportunity," said Vernon.

The Fairlawn office, which will be located in a new building to be constructed
on the northwest corner of Smith and Ghent Roads, celebrated its groundbreaking
ceremony on June 18, 2003. The office will open its doors in the first quarter
2004 and will feature private client service areas, making the environment warm
and inviting. A temporary office has been established at 2841 Riviera Drive,
Suite 300, in Fairlawn.

Raymond E. Heh will serve as Regional President and head of Summit County
operations. Heh joins Central Federal with 39 years' banking experience and a
thorough understanding of the northeast Ohio financial services market. "Ray and
I first met 18 years ago when I recruited him to join Bank One Akron. It is a
pleasure to be working with him again," said Vernon.

"There is a great opportunity for Central Federal in this market, and I am
looking forward to working with Dave again as we establish our office in
Fairlawn," added Heh.

The Columbus office, which was announced on May 8, 2003, is scheduled to open in
the fourth quarter 2003. It will be located near Easton Town Center. Columbus
operations are headed by Regional President Parker



MacDonell and will be similar in design to the Fairlawn office. "Everyone in our
Columbus and Fairlawn offices will be dedicated to providing personalized,
focused service to businesses and individuals," said MacDonell. A third
generation Ohio banker, MacDonell joined forces with Central Federal after
meeting Vernon in March of this year.

Edward L. Baumgardner, an East Liverpool resident, became President of the
Bank's Columbiana County region on June 16, 2003. "I have been asked to build
our Columbiana County operation and am looking forward to helping the Bank add
to its 111-year heritage," said Baumgardner.

Mark S. Allio, a resident of Bath, Ohio, joined the boards of both Central
Federal Corporation and Central Federal Bank on June 18, 2003. "Several months
ago, I was introduced to Dave Vernon, and it was immediately obvious that we
have similar business philosophies. I have a passion for helping to grow
businesses in this area, so it is a privilege to become part of this effort,"
said Allio.

The Fairlawn and Columbus offices will focus on business financial services that
provide personalized, focused service and access to decision-makers. "With a
myriad of banks already established in Fairlawn and Columbus, many wonder what
makes us different," said Vernon. "I simply explain that our clients and friends
have immediate access to experienced decision-makers, so they can get the job
done and get on with their business."

Most banks offer business financial services, yet very few authorize client
service personnel to make decisions. "We give business owners access to
decision-makers - loan officers who can make decisions just as owners do when
they run their businesses," explained Vernon.

"We have a lot of work to do, but this is a great team. I don't think there is
another bank our size in the country with this much talent. Now it is time to
execute the plan," added Vernon.

For more information about Central Federal Bank or its regional offices, contact
David C. Vernon or Raymond E. Heh at 330-666-7979.

ABOUT DAVID C. VERNON

David Vernon has worked in banking for 30 years and founded Summit Bancorp and
Summit Bank in Fairlawn in 1991. After achieving significant success, Summit
merged with Signal Corp. of Wooster in 1997. Signal was acquired by FirstMerit
of Akron in 1999. Vernon resides in Akron.

ABOUT RAYMOND E. HEH

Raymond Heh, former Regional President of Bank One, has worked in banking for 39
years. He served as President and CEO of Winters National Bank in Cincinnati
until January 1984 when it was acquired by Bank One. In 1984, Heh moved to Bank
One Akron as head of commercial lending and subsequently became Chairman and
Chief Executive Officer of the Akron affiliate. He has served on numerous
professional and charitable organizations. Heh resides in Hudson.

ABOUT PARKER MACDONELL

Parker MacDonell, former Senior Vice President of Bank One Columbus, has worked
in banking for 16 years. He joined Bank One in 1998 after receiving his Master's
degree from the Yale School of Management, New Haven, CT. MacDonell resides in
Worthington, Ohio.

ABOUT EDWARD L. BAUMGARDNER

Edward Baumgardner, former President of Potters Bank and Potters Financial
Corporation, has worked in banking for nearly 30 years. He resides in East
Liverpool.



ABOUT MARK S. ALLIO

Mark Allio, former president of Third Federal Savings, Cleveland, has worked in
banking for more than 15 years. He is President and CEO of Rock Bank, FSB in
formation in Livonia, Michigan. Prior to joining Third Federal, he was a CPA
with KPMG and Arthur Anderson for 10 years. He resides in Bath, Ohio.

ABOUT CENTRAL FEDERAL

Central Federal Corporation, the holding company for Central Federal Bank, was
organized as a Delaware corporation in September 1998, in connection with the
bank's conversion from a mutual to stock organization. Central Federal is a
community-oriented financial services company founded in 1892.

This release contains certain forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended. We intend these
forward-looking statements to be subject to the safe harbor created by that
provision. These forward-looking statements involve risks and uncertainties and
include, but are not limited to, statements regarding future events and our
plans, goals and objectives. Our actual results may differ materially from these
statements. Although we believe the assumptions underlying the assumptions are
reasonable, any of the assumptions could prove to be inaccurate. Therefore, we
can give no assurance that the results contemplated in these forward-looking
statements will be realized. The inclusion of this forward-looking information
should not be regarded as a representation by our company or by any person that
the future events, plans or expectations contemplated by our company will be
achieved. Furthermore, past performance in operations and share price is not
necessarily predictive of future performance.

EX-99.2

                                                                    EXHIBIT 99.2

PRESS RELEASE

FOR IMMEDIATE RELEASE

Contact:          David C. Vernon, Chairman, President and CEO
                  330-666-7979

Central Federal Corporation Announces Quarterly Dividends

WELLSVILLE, OHIO - JUNE 20, 2003 - Central Federal Corporation (NASDAQ: GCFC)
announced today that its Board of Directors, at their meeting on June 18, 2003,
declared a cash dividend of 9 cents per share on its common stock payable July
18, 2003 to shareholders of record on July 7, 2003.

As of June 18, 2003, Central Federal Corporation had 1,645,921 shares of common
stock outstanding which will represent a total dividend paid of $148,132.89.

Central Federal Corporation, a holding company owning all the shares of Central
Federal Bank, was formed in connection with the mutual to stock conversion of
Central Federal Bank completed on December 30, 1998.

Central Federal Bank, organized in 1892, operates two offices located within
Columbiana County, Ohio, one office in Fairlawn, Ohio and one office in
Columbus, Ohio.

This release contains certain forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended. We intend these
forward-looking statements to be subject to the safe harbor created by that
provision. These forward-looking statements involve risks and uncertainties and
include, but are not limited to, statements regarding future events and our
plans, goals and objectives. Our actual results may differ materially from these
statements. Although we believe the assumptions underlying the assumptions are
reasonable, any of the assumptions could prove to be inaccurate. Therefore, we
can give no assurance that the results contemplated in these forward-looking
statements will be realized. The inclusion of this forward-looking information
should not be regarded as a representation by our company or by any person that
the future events, plans or expectations contemplated by our company will be
achieved. Furthermore, past performance in operations and share price is not
necessarily predictive of future performance.