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 4, 2009

Camco Financial Corporation
(Exact name of registrant as specified in its charter)

DELAWARE	0-25196	51-0110823
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

6901 Glenn Highway, Cambridge, Ohio	43725
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code:   (740) 435-2020

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 (see General Instruction A.2. below):
	[   ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	[   ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	[   ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	[   ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01. Entry into a Material Definitive Agreement.

On March 4, 2009, Camco Financial Corporation ("Camco") entered into a Memorandum of Understanding (the "MOU") with the Federal Reserve Bank of Cleveland (the "Federal Reserve"). The MOU prohibits Camco from engaging in certain activities while the MOU is in effect, including, without the prior written approval of the Federal Reserve, (1) the declaration or payment of dividends to stockholders or (2) the repurchase of Camco's stock.

Item 2.02. Results of Operations and Financial Condition.

On March 9, Camco Financial Corporation issued a press release regarding its revised earnings for the 4th quarter and year ended 2008. The press release is attached as Exhibit 99 hereto and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(a)	Financial statements of business acquired.
	Not applicable.
(b)	Pro forma financial information.
	Not applicable.
(c)	Shell company transactions.
	Not applicable.
(d)	Exhibits.

Exhibit Number	Description
99	Press release dated March 9, 2009

SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Camco Financial Corporation (Registrant)
March 9, 2009 (Date)	/s/   JAMES E. BROOKS James E. Brooks Chief Financial Officer

EX-99.1

EXHIBIT 99.1

Camco Financial Announces Revised Earnings for Fourth Quarter and Full Year 2008

CAMBRIDGE, Ohio, March 9, 2009 (GLOBE NEWSWIRE) -- Camco Financial Corporation (Nasdaq:CAFI), the financial services holding company for Advantage Bank, today announces revised earnings for its fourth quarter and full year 2008. After the Company's earnings release on February 6, 2009, Camco continued to analyze its mortgage servicing rights, real estate owned and allowance for loan loss balances, and determined it prudent to record the following adjustments for the fourth quarter which amounted to additional expense of $2.25 million after tax:

 * Mortgage Servicing Rights were written down $2.5MM based on
   additional industry-wide analysis that indicated more conservative
   prepayment speed assumptions and lower initial valuations for cash
   flows generated from the servicing of loans.

 * Real Estate Owned balances were written down an additional $650M to
   more accurately align book values with fair market value.

 * Allowance for Loan Losses were increased an additional $206M to
   account for the increase in the historical loss rate due to late
   year charge offs.

Revised net loss for the fourth quarter and year end were $15.8MM, $2.20 per share and $15.3MM, $2.14 per share respectively, from $13.5MM, $1.89 per share and $13.1MM, $1.83 per share respectively, that was previously reported for those periods. Senior Vice President and Chief Financial Officer James E. Brooks commented, "Now that more information has been received for 2008, the deterioration of the economy and housing values during the latter part of 2008 increased at a more rapid rate than contained in our previous analysis. Our actions reflect what we believe to be the prudent decisions in these times."

About Camco Financial Corporation:

Camco Financial Corporation, Holding Company of Advantage Bank, is a multi-state financial services Holding Company headquartered in Cambridge, Ohio. Advantage Bank and its affiliate, Camco Title Agency, offer relationship banking that includes commercial, small business and consumer financial services, internet banking and title insurance services from 28 offices in Ohio, Kentucky and West Virginia. Additional information about Camco Financial Corporation may be found on the Company's web sites: http://www.camcofinancial.com and http://www.advantagebank.com.

The Camco Financial Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4639

The words or phrases "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties including changes in economic conditions in the Company's market area, changes in policies by regulatory agencies, fluctuations in interest rates, demands for loans in the Company's market area and competition, that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

CONTACT:  Camco Financial Corporation
          James E. Huston, CEO
          740-435-2020