PRESS ANNOUNCEMENT
DATE:    JULY 23, 2003

CONTACT:   C. KEITH SWANEY
           (440) 248-7171

          PVF CAPITAL CORP. ANNOUNCES STOCK DIVIDEND AND ANNUAL MEETING


Chairman John R. Male announced that the Board of Directors of PVF Capital Corp.
declared a dividend of 10% of the common shares of PVF Capital Corp. on June 24,
2003. This share dividend will be issued on the 29th day of August, 2003, to the
holders of shares of record at the close of business on August 15, 2003.

The 2003  Annual  Meeting of  Stockholders  will be held on October  20, 2003 at
10:00 a.m. at PVF Capital Corp.'s  Corporate  Center,  30000 Aurora Road, Solon,
Ohio.

This press release contains statements that are forward-looking, as that term is
defined by the Private  Securities  Litigation Act of 1995 or the Securities and
Exchange Commission in its rules,  regulations and releases. The Company intends
that such forward-  looking  statements  be subject to the safe harbors  created
thereby.  All  forward-looking  statements  are  based on  current  expectations
regarding  important  risk  factors  including,  but not limited to, real estate
values  and the  impact of  interest  rates on  financing.  Accordingly,  actual
results may differ from those expressed in the forward looking  statements,  and
the making of such statements  should not be regarded as a representation by the
Company or any person that results expressed therein will be achieved.


PVF Capital  Corp.'s,  common stock trades on the NASDAQ  Small-Cap market under
the symbol PVFC.