Citizens First Bancorp Announces Voluntary NASDAQ Delisting

Citizens First Bancorp, Inc. (NASDAQ: CTZN) (the “Company”), the holding company for CF Bancorp, announced today that it has given formal written notice to the NASDAQ Stock Market (“NASDAQ”) of its intention to voluntarily delist its common stock from the NASDAQ Capital Market.

The Company previously reported that its Board of Directors instructed management to prepare an analysis of the alternatives to the continued listing of its common stock on the NASDAQ Global Select Market, including the transfer to The NASDAQ Capital Market or trading of the Company’s securities on the OTC Bulletin Board. Based on management’s recommendation, the Company thereafter applied for and transferred from the NASDAQ Global Select Market to the NASDAQ Capital Market on December 16, 2009. The decision to delist from the NASDAQ Capital Market has now been reached as part of the Company’s overall strategy to conserve resources and improve cost-effectiveness as the benefits of maintaining a NASDAQ listing have declined over time. The limited trading volume and low trading prices on NASDAQ of the Company’s common stock, and additional complexities and administrative burdens associated with being a listed security, outweigh the benefits to the Company and its shareholders of continued NASDAQ listing.

The Company intends to file a Form 25 with the Securities and Exchange Commission (“SEC”) and NASDAQ on February 22, 2010 to effect the voluntary delisting of its common stock from the NASDAQ Capital Market. The Company’s common stock will be suspended from trading as of the date of the Form 25 filing with the SEC. The official delisting of the Company’s common stock will be effective ten days thereafter, or March 4, 2010.

Following the effectiveness of the Form 25 filing, the Company’s common stock will not be eligible for trading on any national exchange or the OTC Bulletin Board, although such securities may still be eligible for quotation on the Pink Sheets by broker-dealers. The Company does not currently intend to arrange for the listing or quotation of its securities on any securities exchange or quotation system.