8-K

                                  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): June 10, 2004


                           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          42968            (330) 532-1517
   ---------------------------------          -----            --------------
(Address of principal executive offices)    (Zip Code)   (Registrant's Telephone
                                                                  Number)












ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS

On June 10, 2004, the registrant entered into a definitive agreement to acquire
RJO Financial Services, Inc., d/b/a Reserve Mortgage Services, an Akron, Ohio
based company licensed as a mortgage banker in Ohio, Florida and Georgia. The
registrant will purchase all the outstanding common stock of RJO Financial
Services, Inc., founded by Richard J. O'Donnell, for 153,846 newly issued shares
of Central Federal Corporation Common Stock. Based on the $13.31 closing price
of Central Federal Corporation Common Stock on June 10, 2004, the date of the
announcement, the value of the acquisition was approximately $2.0 million.

A copy of the press release issued on June 10, 2004 is included as Exhibit 99.1
to this Current Report on Form 8-K.


ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

(a) Financial statements of businesses acquired
(b) Pro forma financial information
    Financial statements required by sections 7(a) and 7(b) will be provided by
    an amendment to this Form 8-K that will be filed within 60 days of the
    required filing date of this Form 8-K, pursuant to Item 7(a)(4).

(c) Exhibits
         99.1  Press release issued on June 10, 2004










                                   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: June 16, 2004                    By:   /s/ Therese Ann Liutkus
                                              ----------------------------------
                                              Therese Ann Liutkus, CPA
                                              Chief Financial Officer

EX-99.1

                                                                    Exhibit 99.1

PRESS RELEASE

FOR IMMEDIATE RELEASE

DATE:      June 10, 2004
COMPANY:   Central Federal Corporation/CFBank
           2923 Smith Road
           Fairlawn, Ohio 44333
CONTACT:   David C. Vernon
           Chairman, President and CEO
PHONE:     330.666.7979              Fax:     330.666.7959


AKRON BASED RESERVE MORTGAGE SERVICES TO JOIN CENTRAL FEDERAL CORPORATION AND
CFBANK.

Fairlawn, Ohio - June 10, 2004 - Central Federal Corporation (Nasdaq: GCFC)
announced that it has entered into a definitive agreement to acquire Reserve
Mortgage Services, an Akron, Ohio based company founded by Richard J. O'Donnell.
Prior to founding Reserve, Mr. O'Donnell was Executive Vice President and
Director of Lending, Falls Savings, which was acquired by Fifth Third Bank in
1995. Under terms of the agreement Reserve will continue to operate under the
name Reserve Mortgage Services. Mr. O'Donnell will continue as President and CEO
of Reserve. Kathy Vidakovics, Vice President of Reserve, will continue in her
role as Vice President and Chief Operating Officer. Mr. O'Donnell will also join
CFBank's executive management committee. Terms of the deal, which require
regulatory approval, were not disclosed.

"We are more than delighted to announce this agreement. Rick O'Donnell and Kathy
Vidakovics bring significant talent and an outstanding organization to our
company, which will enable us to expand mortgage services," said David C.
Vernon, Chairman, President and CEO of Central Federal Corporation. "We are
pleased to join Central Federal Corporation and CFBank. Their strong capital
position will accelerate our plans for expansion, and we are joining a very
progressive organization," added O'Donnell.




ABOUT CENTRAL FEDERAL CORPORATION AND CFBANK

Central Federal Corporation ((Nasdaq: GCFC), the holding company for CFBank, was
organized as a Delaware corporation in September 1998 in connection with the
bank's conversion from a mutual to stock organization, which was completed on
December 30, 1998. CFBank is a community-oriented financial services company
founded in 1892. Its home office is in Fairlawn, Ohio. It operates two
additional offices in Columbiana County, Ohio, and one 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 assurances 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.