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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 IDSiL35AU9+SvoWAQQ2Jzo2+5Yblb04GKWS35MY5uBhou5Gec0LIRg8w0AMYxtFX
 IdnuL92W9UtxKqBXdC/8IQ==

<SEC-DOCUMENT>0001209191-03-018113.txt : 20030820
<SEC-HEADER>0001209191-03-018113.hdr.sgml : 20030820
<ACCEPTANCE-DATETIME>20030820164459
ACCESSION NUMBER:		0001209191-03-018113
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030820
FILED AS OF DATE:		20030820

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BAYLOR RICHARD C
		CENTRAL INDEX KEY:			0001203874

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25196
		FILM NUMBER:		03858436

	MAIL ADDRESS:	
		STREET 1:		C/O CAMCO / ADVANTAGE
		STREET 2:		6901 GLENN HIGHWAY
		CITY:			CAMBRIDGE
		STATE:			OH
		ZIP:			43725

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAMCO FINANCIAL CORP
		CENTRAL INDEX KEY:			0000016614
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
		IRS NUMBER:				510110823
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		6901 GLENN HIGHWAY
		CITY:			CAMBRIDGE
		STATE:			OH
		ZIP:			43725
		BUSINESS PHONE:		7404325641
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bci02740_bco1rb.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2003-08-20</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0000016614</issuerCik><issuerName>CAMCO FINANCIAL CORP</issuerName>        <issuerTradingSymbol>CAFI</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001203874</rptOwnerCik><rptOwnerName>BAYLOR RICHARD C</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1></rptOwnerStreet1><rptOwnerStreet2></rptOwnerStreet2><rptOwnerCity>NEW CONCORD</rptOwnerCity><rptOwnerState>OH</rptOwnerState><rptOwnerZipCode>43762</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>1</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>President, CEO</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDer
ivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-08-20</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>5000</value></transactionShares><transactionPricePerShare><value>8.94</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>21234</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-08-20</value></transactionDate><transactionCoding><transactionFormType>4</transactionForm
Type><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>5250</value></transactionShares><transactionPricePerShare><value>14.41</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>26484</value><footnoteId id="F1" /></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>Right to Buy</value></securityTitle><conversionOrExercisePrice><value>8.94</value></conversionOrExercisePrice><transactionDate><value>2003-08-20</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0<
/equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>5000</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2000-11-28</value></exerciseDate><expirationDate><value>2010-11-28</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>5000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction><derivativeTransaction><securityTitle><value>Right to Buy</value></securityTitle><conversionOrExercisePrice><value>14.41</value></conversionOrExercisePrice><transactio
nDate><value>2003-08-20</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>5250</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>1998-10-20</value></exerciseDate><expirationDate><value>2008-10-20</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>5250</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransacti
on></derivativeTable><footnotes><footnote id="F1">Reporting person indirectly owns 501 shares held solely by his wife and 6,610 held by the 401(k) trust.</footnote></footnotes><ownerSignature><signatureName>/s/ Richard C. Baylor</signatureName><signatureDate>2003-08-20</signatureDate></ownerSignature></ownershipDocument>

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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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