ITEM 7.01 Regulation FD Disclosure

On December 23, 2008, CFS Bancorp, Inc. (the "Company") issued a press release announcing the declaration of a quarterly cash dividend.

Attached as Exhibit 99.1 is a copy of the Company's press release related to the announcement of the declaration. This press release is being furnished to the Securities and Exchange Commission and shall not be deemed to be "filed" for any purpose except otherwise provided herein.

ITEM 8.01 Other Events

On December 23, 2008, CFS Bancorp, Inc. (the "Company") issued a press release regarding the decision to not participate in the Capital Purchase Program offered by the U.S. Treasury. A copy of that press release is also attached as Exhibit 99.1.