EXHIBIT 99.1



                       [CFS BANCORP, INC. LETTERHEAD]



September 18, 2003
FOR IMMEDIATE RELEASE

CONTACT:  Thomas F. Prisby, Chairman of the Board and Chief Executive Officer
          2l9-836-5500


       CFS BANCORP, INC. ANNOUNCES DECLARATION OF CASH DIVIDEND

MUNSTER, IN - September 18, 2003 - CFS Bancorp, Inc. (NASDAQ: CITZ)
announced today that its Board of Directors declared a quarterly cash
dividend on September 15, 2003 of $0.11 (eleven cents) per share on
the common stock of the Company.  The dividend will be paid on October
31, 2003 to the stockholders of record at the close of business on
October 10, 2003.

CFS Bancorp, Inc. has paid a cash dividend each quarter since its
initial public offering in July 1998.

CFS Bancorp, Inc. is the parent of Citizens Financial Services, FSB.
Citizens Financial Services provides community banking services and
currently operates 22 offices throughout adjoining markets in
Chicago's Southland and Northwest Indiana.  The Company's stock trades
on the Nasdaq National Stock Market under the symbol "CITZ."

This press release may contain certain forward-looking statements and
information relating to the Company that are based on the beliefs of
management as well as assumptions made by and information currently
available to management.  The words "anticipate," "believe,"
"estimate," "expect," "indicate" "intend," "should," and similar
expressions, or the negative thereof, as they relate to the Company or
the Company's management, are intended to identify forward-looking
statements.  Such statements reflect the current views of the Company
with respect to future events that are subject to certain risks and
uncertainties that may cause actual results to vary.  The Company does
not intend to update these forward-looking statements.


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