Community Investors Bancorp, Inc. Reports Net Earnings For The Six and Three Months Ended December 31, 2007

    BUCYRUS, Ohio, Jan. 22 /PRNewswire-FirstCall/ -- Community Investors
 Bancorp, Inc. (OTC Pink Sheets:   CIBN), parent company of First Federal
 Community Bank of Bucyrus, reported net earnings of $369,000, or $.42 per
 basic share, for the six months ended December 31, 2007, representing an
 increase of $26,000, or 7.6%, compared to the net earnings of $343,000, or
 $.39 per basic share, reported for the six months ended December 31, 2006.
 The increase in 2007 earnings reflects a $68,000, or 3.4%, increase in net
 interest income coupled with a reduction in provision for loan loss of
 $25,000. In addition, general, administrative and other expense, decreased
 by $25,000 or 1.5%. This was partially offset by a reduction in other
 income of $81,000. The reduction in other income reflects the recognition
 of losses on foreclosed real estate and other repossessed collateral, as
 well as reduced activity in production and sale of mortgage loans. General,
 administrative and other expense reflects reduced pension liability costs
 partially offset by increased costs related to conversion to a new core
 processing system during August, as well as increases related to opening
 our Marysville banking center. These increases were partially offset by
 reductions in core processing monthly costs. The Marysville banking center
 opened successfully in November, as the Company expands its geographic
 reach. At the same time, we will continue to search for new opportunities
 to serve its customers and shareholders, while looking for opportunities to
 increase our efficiency.
 
     Community Investors Bancorp, Inc. reported total assets at December 31,
 2007, of $147.8 million, total liabilities of $136.9 million, including
 total deposits of $96.8 million and total stockholders' equity of $10.9
 million.
 
 
Community Investors Bancorp, Inc. CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (In thousands) UNAUDITED December 31, June 30, ASSETS 2007 2007 Cash and cash equivalents $14,705 $4,611 FHLB overnight deposits 2,400 2,500 Investment securities 6,078 10,846 Mortgage-backed securities 5,175 2,589 Loans receivable 110,997 110,627 Interest receivable 912 957 Prepaid federal income tax 92 285 FHLB stock 2,133 2,133 Prepaid expenses 367 574 Fixed assets 4,434 3,361 Other assets 529 490 Total assets $147,822 $138,973 LIABILITIES AND SHAREHOLDERS' EQUITY Deposits $ 96,840 $ 86,197 Advances from the Federal Home Loan Bank 38,500 40,506 Interest payable 345 352 Other liabilities 1,060 1,085 Deferred federal income tax 204 196 Total liabilities 136,949 128,336 Shareholders' equity 10,873 10,637 Total liabilities and shareholders' equity $147,822 $138,973 Community Investors Bancorp, Inc. CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (In thousands, except share data) UNAUDITED Six months ended Three months ended December 31, December 31, 2007 2006 2007 2006 Total interest income $4,582 $4,112 $2,342 $2,103 Total interest expense 2,520 2,118 1,303 1,077 Net interest income 2,062 1,994 1,039 1,026 Provision for losses on loans 75 100 50 55 Net interest income after provision for losses on loans 1,987 1,894 989 971 Other income 265 346 138 197 General, administrative and other expense 1,690 1,715 811 862 Earnings before income taxes 562 525 316 306 Federal income taxes 193 182 109 107 NET EARNINGS $369 $343 $207 $199 EARNINGS PER SHARE Basic $0.42 $0.39 $0.24 $0.23 Diluted $0.42 $0.39 $0.24 $0.23

SOURCE Community Investors Bancorp, Inc.

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