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): March 16, 2006

CENTRAL FEDERAL CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Delaware	0-25045	34-1877137
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)
2923 Smith Road, Fairlawn, Ohio	44333	(330) 666-7979
(Address of Principal Executive Offices)	(Zip Code)	(Registrant’s Telephone Number)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events

On March 17, 2006, the registrant issued a press release announcing that its Board of Directors declared a cash dividend of 9 cents per share on its common stock to be paid on April 14, 2006 to shareholders of record on April 3, 2006.

On March 16, 2006, the registrant issued a press release announcing that CFBank, a wholly owned subsidiary of the registrant, is participating with the Federal Home Loan Bank of Cincinnati in the “New Neighbors” program, offering $20,000 grants to Hurricane Katrina victims seeking to purchase homes in Ohio.

Copies of the press releases are included as Exhibit 99.1 and 99.2 to this report.

Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits

(c) Exhibits

99.1	Press release issued on March 17, 2006 announcing dividends
99.2	Press release issued on March 16, 2006 announcing CFBank’s participation in the “New Neighbors” program

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: March 20, 2006	By:	/s/ Therese Ann Liutkus
		Therese Ann Liutkus, CPA Treasurer and Chief Financial Officer

EX-99.1

Exhibit 99.1

PRESS RELEASE

FOR IMMEDIATE RELEASE

Date:	March 17, 2006
Company:	Central Federal Corporation 2923 Smith Road Fairlawn, Ohio 44333
Contact:	Mark S. Allio Chairman, President and CEO
Phone:	330.576.1334	Fax:	330.666.7959

CENTRAL FEDERAL CORPORATION DECLARES DIVIDEND

Fairlawn, Ohio – March 17, 2006 – Central Federal Corporation (NASDAQ: CFBK) announced today that the Company’s Board of Directors declared a cash dividend of 9 cents per share on its common stock to be paid on April 14, 2006 to stockholders of record on April 3, 2006.

About Central Federal Corporation and CFBank

Central Federal Corporation is the holding company for CFBank, a federally chartered savings association formed in Ohio in 1892. CFBank has four full-service banking offices in Fairlawn, Calcutta, Columbus and Wellsville, Ohio and a residential mortgage loan origination office in Akron, Ohio. Additional information about mortgage loans, home equity loans, commercial loans and other services is available at www.CFBankOnline.com.

Statements contained in this release that are not historical fact may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company cautions that such statements necessarily are based on certain assumptions which are subject to risks and uncertainties, including, but not limited to, changes in general economic and market conditions. Further information on these risk factors is included in the Company’s filings with the Securities and Exchange Commission.

EX-99.2

Exhibit 99.2

PRESS RELEASE

FOR IMMEDIATE RELEASE

Date:	March 16, 2006
Company:	CFBank 2923 Smith Road Fairlawn, Ohio 44333
Contact:	Mark S. Allio Chairman, President and CEO
Phone:	330.576.1334	Fax:	330.666.7959

CFBank announces Hurricane Housing Grants Available

Hurricane evacuees seeking to buy homes in Ohio can qualify for grants of $20,000 to help with their purchase, through the efforts of CFBank and the Federal Home Loan Bank of Cincinnati.

“We know that a number of people who were put out of their homes by Hurricane Katrina made their way to Ohio,” said Mark S. Allio, Chairman and CEO, CFBank. “If they decide to stay here permanently, we can help with that transition by connecting them with the FHLBank grants.”

To help hurricane evacuees find permanent housing, The Federal Home Loan Bank of Cincinnati established a fund to provide grants to home buyers to help with their relocation. The two-year, $15 million “New Neighbors” program was created by the FHLBank’s board of directors, in the wake of Hurricane Katrina’s devastation in Louisiana and Mississippi. Households displace by hurricanes Rita and Wilma are also eligible.

The New Neighbors fund provides grants of $20,000 to home buyers. The program has few restrictions for home buyers:

n	The maximum purchase price can be no more than $175,000.
n	Evacuees must be designated by FEMA as eligible for housing assistance.
n	The grants do not have to be paid back if the home buyers stay in their new homes for five years. If they sell or refinance their homes within five years, a pro-rated portion of the grant must be repaid.

“Thousands of families lost everything in the hurricanes, and the help that we can provide in putting those families into good housing can help them rebuild their lives,” said David Hehman, president of the FHLBank. “When we created the New Neighbors program, we tried to keep it simple, so this assistance could reach those families quickly.”

Many evacuees, however, may not be aware of the aid available to them, said Mr. Allio. “Because they’ve lost so much, these hurricane victims may not believe they could buy a home so soon after the disaster,” he said. “We can work with them, if they had good credit before the hurricane and can demonstrate a capacity to pay their bills today. The New Neighbors grants can make a big difference in helping these folks get back into homes.”

For more information, contact CFBank: Mark Allio at 330-576-1334 or Tim O’Brien, Sr. Vice President, Mortgage Operations at 330-572-0236.

About Central Federal Corporation and CFBank

Central Federal Corporation is the holding company for CFBank, a federally chartered savings association formed in Ohio in 1892. CFBank has four full-service banking offices in Fairlawn, Calcutta, Columbus and Wellsville, Ohio and residential mortgage loan origination offices in Akron and Columbus, Ohio. Additional information is available at www.CFBankOnline.com.

Statements contained in this release that are not historical fact may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The company cautions that such statements necessarily are based on certain assumptions which are subject to risks and uncertainties, including, but not limited to, changes in general economic and market conditions. Further information on these risk factors is included in the company’s filings with the Securities and Exchange Commission.