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                                                                    EXHIBIT 28.1



                          [CFSB BANCORP LETTERHEAD]


                                                     CONTACT:   ROBERT H. BECKER
                                                                PRESIDENT & CEO
                                                                517-374-3588
                                                          OR:   JOHN W. ABBOTT
                                                                EXECUTIVE VICE
                                                                PRESIDENT & COO
                                                                517-483-4871


                                                        NEWS RELEASE


FOR IMMEDIATE RELEASE -- AUGUST 21, 1996


                          CFSB BANCORP, INC. DECLARES
                               10% STOCK DIVIDEND

Lansing, Michigan -- CFSB Bancorp, Inc., (NASDAQ-NMS: CFSB) holding company for
Community First Bank, announced today the Corporation's Board of Directors
declared a 10 percent stock dividend payable September 12, 1996, to
stockholders of record on August 30, 1996.  Stockholders will receive one share
of common stock for each 10 shares they hold on the record date.  Certificates
for the additional full shares will be mailed September 12, 1996.  Stockholders
entitled to receive fractional shares will receive cash based on the stock's
market price on August 30, 1996.  Management anticipates the Corporation's next
regular quarterly cash dividend will be paid on October 11, 1996, and expects
the current dividend rate of $0.12 per share will remain in effect for both the
current and new shares.

As previously announced, the Corporation's Board of Directors, at its June 18,
1996, meeting, approved a stock repurchase program whereby the Corporation may
acquire up to 224,000 shares of the Corporation's common stock, which
represents approximately 5 percent of the outstanding common shares.  The
repurchase program was designed to offset the future dilution incurred in
connection with the administration of the Corporation's stock option plans and
the issuance of stock dividends.  To date, 65,700 shares have been repurchased
in open market transactions and the Corporation intends to reissue these shares
in conjunction with the 10 percent stock dividend.

CFSB Bancorp, Inc., is the holding company for Community First Bank, a federal
savings bank, which specializes in residential mortgage lending and retail
banking services.  With headquarters in Lansing, Michigan, the Bank serves
mid-Michigan from 19 office locations and six additional off-site 24-Hour ATM
Banking Centers.  Total assets of CFSB Bancorp at June 30, 1996, were $791.6
million and stockholders' equity, all tangible, was $65.1 million.

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