EXHIBIT 99

                [LETTERHEAD OF CKF BANCORP, INC. APPEARS HERE]

                                 PRESS RELEASE

FOR IMMEDIATE RELEASE
Date:  January 16, 1997
Contract:  John Stigall
Phone:  (606) 236-4181
Fax:    (606) 236-4363


                              CKF BANCORP, INC.,
                      CASH DIVIDEND AND SPECIAL DIVIDEND

Danville, Kentucky -- John H. Stigall, President and Chief Executive Officer of 
CKF Bancorp, Inc. (the "Corporation"), Danville, Kentucky, the holding company 
of Central Kentucky Federal Savings Bank of Danville (the Bank), announced today
the Corporation's Board of Directors declared a semiannual cash dividend of $.22
per share to all shareholders of record on January 29, 1997, payable on February
10, 1997. Subject to the Corporation's earnings and capital, it is the current 
intention of the Corporation to continue to pay regular semiannual cash 
dividends.

Mr. Stigall also announced that the Corporation's Board of Directors declared a 
special cash dividend of $1.00 per share to all shareholders of record on 
January 29, 1997, payable on February 11, 1997.

Mr. Stigall indicated that the cash dividends were being paid as a result of 
continued profitability of the Corporation and its wholly owned subsidiary, the 
Bank. He also stated that any future special cash dividend, if any, would be at 
the sole discretion of the Corporation's Board of Directors.

The Bank is a federally chartered stock savings bank headquartered in Danville 
Kentucky. The Bank's deposits are federally insured by the Federal Deposit 
Insurance Corporation ("FDIC"). The Corporation's common stock is quoted in the 
Nasdaq Small-Cap Issues under the symbol "CKFB."