On December 20, 2012, Central Federal Corp. announced the election of Edward W. Cochran as a director of the company and CFBank effective December 19, 2012. There was no arrangement or understanding between Mr. Cochran and any other persons pursuant to which Mr. Cochran was selected as a director.

Mr. Cochran was appointed to the Audit Committee and Proxy and Stock Option Plan Committee of the Board of Directors. Mr. Cochran has been engaged in the practice of law for over 30 years since graduating from Columbia University Law School in 1975. He is also a graduate of Harvard University, where he was a Harvard National Scholar.

Mr. Cochran is admitted to practice before the United States Supreme Court, as well as the courts of Ohio, the U.S. District Court for the Northern District of Ohio, and the United States Circuit Courts of Appeal for the Second, Third, Sixth, Seventh and Ninth Circuits. In addition, Ed is involved in various business interests and is a successful investor.