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): September 26, 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) 532-1517
(Address of Principal Executive Offices)       (Zip Code)     (Telephone Number)


Item 5 Other Events and Required FD Disclosure

On September 26, 2003, the registrant issued a press release announcing that its
Board of Directors, at their meeting on September 18, 2003, declared a cash
dividend of 9 cents per share on its common stock payable October 17, 2003 to
shareholders of record on October 6, 2003. 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 September 26, 2003, announcing that its Board of
Directors, at their meeting on September 18, 2003, declared a cash dividend of 9
cents per share on its common stock payable October 17, 2003 to shareholders of
record on October 6, 2003.





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: September 26, 2003

By: /s/ David C. Vernon
- ---------------------
David C. Vernon
Chairman, President & CEO

EX-99

Exhibit 99

PRESS RELEASE
- -------------
                                                           FOR IMMEDIATE RELEASE

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

                      Central Federal Corporation Announces
                              Quarterly Dividends

WELLSVILLE, OHIO - SEPTEMBER 26, 2003 - Central Federal Corporation (NASDAQ:
GCFC) announced today that its Board of Directors, at their meeting on September
18, 2003, declared a cash dividend of 9 cents per share on its common stock
payable October 17, 2003 to shareholders of record on October 6, 2003.

As of September 26, 2003, Central Federal Corporation had 1,949,770 shares of
common stock outstanding which will represent a total dividend paid of
$175,479.30.

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 is planning to open an
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.