Exhibit 99.1

                      [CFS Bancorp, Inc. Letterhead]

June 2, 2004
FOR IMMEDIATE RELEASE

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

    CFS Bancorp, Inc. Announces Completion of Stock Repurchase Program

Munster, IN, June 2, 2004 - CFS Bancorp, Inc. (NASDAQ: CITZ) (the "Company")
today announced the completion of its seventh stock repurchase program.  This
program resulted in 1,300,000 shares being repurchased by the Company at an
average cost per share of $14.068.  Since the Company's initial public
offering in July of 1998, a total of 11,591,110 shares have been repurchased
at an average price of $11.75.

The Company has commenced repurchases under its eighth stock repurchase
program for 1,200,000 shares and currently has 1,181,662 shares remaining for
repurchase under this program.

Shares outstanding at May 31, 2004 were 12,319,269.

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 currently operates 22 offices throughout
adjoining markets in Chicago's Southland and Northwest Indiana.  The Company
maintains a website at www.cfsbancorp.com.


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