EXHIBIT 99.1


                      [CFS BANCORP, INC. LETTERHEAD]


December 18, 2003
FOR IMMEDIATE RELEASE

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



            CFS BANCORP, INC. DECLARES CASH DIVIDEND

MUNSTER, IN - December 18, 2003 - CFS Bancorp, Inc. (NASDAQ: CITZ) announced
today that its Board of Directors declared a quarterly cash dividend on
December 15, 2003 of $0.11 (eleven cents) per share on the common stock of the
Company.  The dividend will be paid on January 30, 2004 to the stockholders of
record at the close of business on January 9, 2004.

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, a $1.5
billion asset federal savings bank.  Citizens Financial Services provides
community banking services and operates 22 offices throughout adjoining
markets in Chicago's Southland and Northwest Indiana.

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.

                                #   #   #