2


                    U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                  FORM 10-QSB
(Mark  One)
[  X  ]     QUARTERLY  REPORT  UNDER  SECTION  13  OR  15(d)  OF  THE
            SECURITIES  EXCHANGE  ACT  OF  1934  FOR  THE  QUARTERLY
            PERIOD ENDED  JUNE  30,  2001

[    ]      TRANSITION  REPORT  UNDER  SECTION  13  OR  15(d)  OF  THE
            SECURITIES EXCHANGE  ACT  OF  1934  FOR  THE  TRANSITION
            PERIOD  FROM _________  TO  __________

                        COMMISSION FILE NUMBER  - 0-21809
                         HOME CITY FINANCIAL CORPORATION
                         -------------------------------
        (EXACT NAME OF SMALL BUSINESS ISSUER AS SPECIFIED IN ITS CHARTER)

           OHIO                                     34-1839475
           ----                                     ----------
(STATE OR OTHER JURISDICTION OF         (I.R.S. EMPLOYER IDENTIFICATION NO.)
INCORPORATION OR ORGANIZATION)

    63 West Main Street
     Springfield, Ohio                                 45502
    -------------------                                -----
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)            (ZIP CODE)

                                 (937) 324-5736
                                 --------------
                           (ISSUER'S TELEPHONE NUMBER)

                                       N/A
                                       ---
    (FORMER NAME, FORMER ADDRESS AND FORMER FISCAL YEAR, IF CHANGED SINCE LAST
                                     REPORT)


As  of  August  6,  2001,  795,200 common shares of stock of the Registrant were
outstanding.  There  were  no  preferred  shares  outstanding.


                         HOME CITY FINANCIAL CORPORATION
                                SPRINGFIELD, OHIO
                                   FORM 10-QSB
                                      INDEX
                                                                  Page  Number

PART  I  FINANCIAL  INFORMATION

     ITEM
         1.  Financial  Statements  (Unaudited)

                  Consolidated  balance  sheets -                       3
                  June  30,  2001,  and  December  31,  2000

                  Consolidated  statements  of  income -                4
                  Three and six months ended June 30, 2001 and 2000

                  Consolidated  statements  of  changes  in             5
                  shareholders' equity - Six months ended June 30,
                  2001

                  Consolidated  statements  of  cash  flows -           6
                  Six  months  ended  June  30,  2001  and  2000

                  Notes  to  consolidated  financial                    7
                  statements - June 30, 2001, and December 31, 2000

         2.  Management's Discussion and Analysis of Financial
             Condition and Results of Operations                        11

PART  II  OTHER  INFORMATION

     ITEM
         1.  Legal Proceedings                                          17

         2.  Changes in Securities and Use of Proceeds                  17

         3.  Defaults upon Senior Securities                            17

         4.  Submission of Matters to a Vote of Security Holders        17

         5.  Other Information                                          17

         6.  Exhibits and Reports on Form 8-K                           17

     Signatures                                                         18

<TABLE>
<CAPTION>

                                      HOME CITY FINANCIAL CORPORATION
                                              SPRINGFIELD, OHIO
                                         CONSOLIDATED BALANCE SHEETS




                                                                           (Dollars in thousands)
                                                                    (Unaudited)
                                                                    -----------
                                                                    At June 30,
                                                              -----------------------
                                                                       2001             At December 31, 2000
                                                              -----------------------  ----------------------
<S>                                                           <C>                      <C>
ASSETS
Cash and cash equivalents
 Cash and due from banks . . . . . . . . . . . . . . . . . .  $                1,587   $               1,248
 Interest-bearing demand deposits in other banks . . . . . .                     136                      72
 Federal funds sold. . . . . . . . . . . . . . . . . . . . .                   1,020                     273
                                                              -----------------------  ----------------------
   Total cash and cash equivalents . . . . . . . . . . . . .                   2,743                   1,593

Time deposits with original maturities of 90 days or more. .                      24                      24
Investment securities available-for-sale, at fair value. . .                   3,732                   3,619
Mortgage-backed securities available-for-sale, at fair value                   1,341                   1,460
Loans, net . . . . . . . . . . . . . . . . . . . . . . . . .                 113,970                 110,945
Stock in Federal Home Loan Bank. . . . . . . . . . . . . . .                   2,016                   1,779
Accrued interest receivable. . . . . . . . . . . . . . . . .                     648                     670
Properties and equipment . . . . . . . . . . . . . . . . . .                   3,901                   2,281
Cash surrender value of life insurance . . . . . . . . . . .                   2,628                   1,073
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . .                     490                     490
Deferred income taxes. . . . . . . . . . . . . . . . . . . .                     171                       0
Other assets . . . . . . . . . . . . . . . . . . . . . . . .                     165                     588
                                                              -----------------------  ----------------------
 TOTAL ASSETS. . . . . . . . . . . . . . . . . . . . . . . .  $              131,829   $             123,522
                                                              =======================  ======================

LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
Deposits . . . . . . . . . . . . . . . . . . . . . . . . . .  $               83,218   $              75,077
Federal Home Loan Bank Advances. . . . . . . . . . . . . . .                  35,529                  34,951
Note payable . . . . . . . . . . . . . . . . . . . . . . . .                     390                     390
Accrued interest payable . . . . . . . . . . . . . . . . . .                     231                     227
Advance payments by borrowers for taxes and insurance. . . .                     137                     144
Deferred income taxes. . . . . . . . . . . . . . . . . . . .                       0                     127
Other liabilities. . . . . . . . . . . . . . . . . . . . . .                     450                     800
                                                              -----------------------  ----------------------

 TOTAL LIABILITIES . . . . . . . . . . . . . . . . . . . . .                 119,955                 111,716

SHAREHOLDERS' EQUITY
Preferred shares, no par value; 1,000,000 shares
 authorized; none issued . . . . . . . . . . . . . . . . . .                       0                       0
Common shares, no par value; 5,000,000 shares
 authorized; 952,200 shares issued . . . . . . . . . . . . .                       0                       0
Additional paid-in capital . . . . . . . . . . . . . . . . .                   6,026                   6,026
Retained earnings, substantially restricted. . . . . . . . .                   8,223                   7,934
Treasury shares, at cost . . . . . . . . . . . . . . . . . .                  (2,016)                 (1,886)
Accumulated other comprehensive income . . . . . . . . . . .                     350                     449
Common shares purchased by:
 Employee Stock Ownership Plan . . . . . . . . . . . . . . .                    (457)                   (457)
 Recognition and Retention Plan. . . . . . . . . . . . . . .                    (252)                   (260)
                                                              -----------------------  ----------------------

 TOTAL SHAREHOLDERS' EQUITY. . . . . . . . . . . . . . . . .                  11,874                  11,806
                                                              -----------------------  ----------------------

 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY. . . . . . . . .  $              131,829   $             123,522
                                                              =======================  ======================
___________________________________
See accompanying notes.
</TABLE>

<TABLE>
<CAPTION>


                                        HOME CITY FINANCIAL CORPORATION
                                               SPRINGFIELD, OHIO
                                       CONSOLIDATED STATEMENTS OF INCOME



                                                              (Dollars in thousands)
                                           (Unaudited)          (Unaudited)       (Unaudited)     (Unaudited)
                                         3 Months Ended       3 Months Ended    6 Months Ended   6 Months Ended
                                             June 30,             June 30,          June 30,         June 30,
                                         --------------       --------------    ---------------  ----------------
                                              2001                  2000              2001            2000
                                             -----                  ----              ----            ----
<S>                                  <C>                      <C>               <C>               <C>
INTEREST INCOME
Loans . . . . . . . . . . . . . . .  $                 2,490  $          2,260  $          4,987  $      4,425
Mortgage-backed securities. . . . .                       28                 6                43            12
Investment securities . . . . . . .                       78                70               151           138
Interest-bearing demand deposits. .                        2                 4                 6             9
Federal funds sold. . . . . . . . .                       11                 0                23             0
                                     -----------------------  ----------------  ----------------  ------------

    TOTAL INTEREST INCOME . . . . .                    2,609             2,430             5,210         4,584

INTEREST EXPENSE
Deposits. . . . . . . . . . . . . .                    1,135               945             2,213         1,856
Borrowed funds. . . . . . . . . . .                      535               416             1,091           789
                                     -----------------------  ----------------  ----------------  ------------

    TOTAL INTEREST EXPENSE. . . . .                    1,670             1,361             3,304         2,645
                                     -----------------------  ----------------  ----------------  ------------

    NET INTEREST INCOME . . . . . .                      939               979             1,906         1,939
Provision for loan losses . . . . .                       10                10                20            25
                                     -----------------------  ----------------  ----------------  ------------

    NET INTEREST INCOME AFTER
        PROVISION FOR LOAN LOSSES .                      929               969             1,886         1,914

NONINTEREST INCOME
Service charges on deposits . . . .                        7                 5                14             8
Life insurance. . . . . . . . . . .                       34                20                54            51
Gain on sale of securities, net . .                        0                 0               134             0
Other income. . . . . . . . . . . .                      129                14               211            27
                                     -----------------------  ----------------  ----------------  ------------

    TOTAL NONINTEREST INCOME. . . .                      170                39               413            86

NONINTEREST EXPENSES
Salaries and employee benefits. . .                      490               321               966           659
Supplies, telephone and postage . .                       47                31                79            54
Occupancy and equipment . . . . . .                       69                46               142            95
FDIC deposit insurance. . . . . . .                        3                 4                 7             7
Data processing . . . . . . . . . .                       50                39               103            79
Legal, accounting and examination .                       70                96               156           163
Franchise taxes . . . . . . . . . .                       36                34                72            80
Other expenses. . . . . . . . . . .                       99                89               196           176
                                     -----------------------  ----------------  ----------------  ------------

    TOTAL NONINTEREST EXPENSES. . .                      864               660             1,721         1,313
                                     -----------------------  ----------------  ----------------  ------------

    NET INCOME BEFORE FEDERAL
        INCOME TAX EXPENSE. . . . .                      235               348               578           687
Federal income tax expense. . . . .                       41               100               111           198
                                     -----------------------  ----------------  ----------------  ------------

    NET INCOME. . . . . . . . . . .  $                   194  $            248  $            467  $        489
                                     =======================  ================  ================  ============
Earnings per common share - basic .  $                  0.26  $           0.33  $           0.62  $       0.65
Earnings per common share - diluted  $                  0.24  $           0.30  $           0.58  $       0.59
___________________________________
See accompanying notes
</TABLE>


6

<TABLE>
<CAPTION>


                                             HOME CITY FINANCIAL CORPORATION
                                                    SPRINGFIELD, OHIO
                                CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
                                ==========================================================


                                                                     (Dollars in thousands)
                                              Number of shares                                          Amounts
                               ----------------------------------------------             ----------------------------------
                                                                          Common      Common
                                                                           shares     shares     Additional
                                    Common              Treasury         purchased   purchased     paid-in      Retained
                                    shares               shares           by ESOP      by RRP      capital      earnings
                               ----------------  ----------------------  ----------  ----------  ------------  ----------
<S>                            <C>               <C>                     <C>         <C>         <C>           <C>
December 31, 1999 . . . . . .           952,200               (108,810)    (53,222)    (16,780)  $     6,033   $   7,288
Net income                                                                                                           994
Other comprehensive income
 Change in unrealized
 gain (loss) on securities
 available-for-sale, net of
 deferred income
 tax of $72
Comprehensive income

Purchase of treasury shares                                    (29,390)
Shares allocated under
 Employee Stock
 Ownership Plan                                                              7,618
Shares earned under
 Recognition and
 Retention Plan                                                                          6,022            (7)
Dividends declared
 ($.425 per share)                                                                                                  (348)
                                       --------               --------     -------     -------   -----------   ----------
Balance at December 31, 2000.           952,200               (138,200)    (45,704)    (10,758)  $     6,026   $   7,934

Net income                                                                                                           467
Other comprehensive income
 Change in unrealized
 gain (loss) on securities
 available-for-sale, net of
 deferred income
 tax of $(51)

Comprehensive income

Purchase of treasury shares                                    (10,600)
Shares earned under
 Recognition and
 Retention Plan                                                                            500
Dividends declared
 ($. 22 per share)                                                                                                  (178)
                                        -------               --------     -------     -------   ----------    ----------
June 30, 2001 . . . . . . . .           952,200               (148,800)    (45,704)    (10,258)  $     6,026   $   8,223
                               ================  ======================  ==========  ==========  ============  ==========


                                            Accumu-
                                             lated
                                             other      Common       Common
                                            compre-     shares       shares      Compre-
                                Treasury    hensive    purchased    purchased    hensive
                                 shares     income      by ESOP      by RRP      income
                               ----------  ---------  -----------  -----------  ---------
<S>                            <C>         <C>        <C>          <C>          <C>
December 31, 1999 . . . . . .  $  (1,516)  $    309   $     (533)  $     (365)
Net income                                                                      $    994
Other comprehensive income
 Change in unrealized
 gain (loss) on securities
 available-for-sale, net of
 deferred income
 tax of $72                                     140                                  140
                                                                                ---------
Comprehensive income                                                            $  1,134
                                                                                =========
Purchase of treasury shares .       (370)
Shares allocated under
 Employee Stock
 Ownership Plan                                               76
Shares earned under
 Recognition and
 Retention Plan                                                           105
Dividends declared
 ($.425 per share)
                               ----------  --------   ----------   -----------
Balance at December 31, 2000.  $  (1,886)  $    449   $     (457)  $     (260)

Net income                                                                      $    467
Other comprehensive income
 Change in unrealized
 gain (loss) on securities
 available-for-sale, net of
 deferred income
 tax of $(51)                                   (99)                                 (99)
                                                                                ---------
Comprehensive income                                                            $    368
                                                                                =========
Purchase of treasury shares .       (130)
Shares earned under
 Recognition and
 Retention Plan                                                             8
Dividends declared
 ($. 22 per share)
                               ----------  --------   ----------   ----------
June 30, 2001 . . . . . . . .  $  (2,016)  $    350   $     (457)  $     (252)
                               ==========  =========  ===========  ===========

7
_______________________________
See  accompanying  notes
</TABLE>

<TABLE>
<CAPTION>

                                        HOME CITY FINANCIAL CORPORATION
                                               SPRINGFIELD, OHIO
                                     CONSOLIDATED STATEMENTS OF CASH FLOWS



                                                                                 (Dollars in thousands)
                                                                                       (Unaudited)
                                                                            6 Months             6 Months
                                                                              Ended                Ended
                                                                             June 30,             June 30,
                                                                     -----------------------  ----------------
                                                                               2001                 2000
                                                                     -----------------------  ----------------
<S>                                                                  <C>                      <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $                  467   $           489
Adjustments to reconcile net income to net cash
 provided by operating activities:
   Premium amortization, net of discount accretion. . . . . . . . .                       0                 8
   Provision for loan losses. . . . . . . . . . . . . . . . . . . .                      20                25
   (Gain) loss on sale of securities. . . . . . . . . . . . . . . .                    (134)                0
   Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . .                      43                38
   Deferred income taxes. . . . . . . . . . . . . . . . . . . . . .                    (181)              (27)
   Life insurance income, net of expenses . . . . . . . . . . . . .                     (45)              (33)
   Employee Stock Ownership Plan compensation expense . . . . . . .                      40                 0
   Recognition and Retention Plan compensation expense. . . . . . .                      45                44
   FHLB stock dividends . . . . . . . . . . . . . . . . . . . . . .                     (70)              (50)
   Net change in:
     Accrued interest receivable. . . . . . . . . . . . . . . . . .                      22               (53)
     Accrued interest payable . . . . . . . . . . . . . . . . . . .                       4                32
     Other assets . . . . . . . . . . . . . . . . . . . . . . . . .                     423              (173)
     Other liabilities. . . . . . . . . . . . . . . . . . . . . . .                    (350)               83
                                                                     -----------------------  ----------------
 NET CASH PROVIDED BY OPERATING ACTIVITIES. . . . . . . . . . . . .                     284               383
                                                                     -----------------------  ----------------

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of securities available-for-sale . . . . . . . . . . . . .                  (2,617)             (378)
Proceeds from sales of securities available-for-sale. . . . . . . .                   1,938                 0
Proceeds from maturities of securities available-for-sale . . . . .                     400                20
Purchase of mortgage-backed securities available-for-sale . . . . .                    (976)                0
Collections on mortgage-backed securities available-for-sale. . . .                      94                51
Purchase of additional BOLI . . . . . . . . . . . . . . . . . . . .                  (1,510)                0
Net increase in loans . . . . . . . . . . . . . . . . . . . . . . .                  (3,045)           (6,940)
Purchases of properties and equipment . . . . . . . . . . . . . . .                  (1,663)             (121)
Purchase of FHLB stock. . . . . . . . . . . . . . . . . . . . . . .                    (167)              (82)
                                                                     -----------------------  ----------------
 NET CASH USED IN INVESTING ACTIVITIES. . . . . . . . . . . . . . .                  (7,546)           (7,450)
                                                                     -----------------------  ----------------

CASH FLOWS FROM FINANCING ACTIVITIES
Net increase in deposits. . . . . . . . . . . . . . . . . . . . . .                   8,141             2,624
Net increase (decrease) in short-term FHLB advances . . . . . . . .                  (4,700)            1,100
Proceeds from new long-term FHLB advances . . . . . . . . . . . . .                  11,000             2,225
Payments on long-term FHLB advances . . . . . . . . . . . . . . . .                  (5,722)             (261)
Net change in advance payments by borrowers for taxes and insurance                      (7)              (79)
Distribution of common shares by Recognition and Retention Plan . .                       8                 9
Purchase of treasury shares . . . . . . . . . . . . . . . . . . . .                    (130)             (346)
Cash dividends paid . . . . . . . . . . . . . . . . . . . . . . . .                    (178)             (172)
                                                                     -----------------------  ----------------


 NET CASH PROVIDED BY FINANCING ACTIVITIES. . . . . . . . . . . . .                   8,412             5,100
                                                                     -----------------------  ----------------

 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS . . . . . . .                   1,150            (1,967)

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD. . . . . . . . . .                   1,593             3,483
                                                                     -----------------------  ----------------

CASH AND CASH EQUIVALENTS AT END OF PERIOD. . . . . . . . . . . . .  $                2,743   $         1,516
                                                                     =======================  ================
____________________________
See accompanying notes
</TABLE>

                                            HOME CITY FINANCIAL CORPORATION

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                          JUNE 30, 2001 AND DECEMBER 31, 2001

                                                     (UNAUDITED)



NOTE  1.     BASIS  OF  PRESENTATION

In  the opinion of Management, the accompanying unaudited consolidated financial
statements  contain  all  adjustments  necessary for a fair presentation of Home
City Financial Corporation's ("Company" or "HCFC") financial position as of June
30,  2001, and December 31, 2000, and the consolidated results of operations for
the three and six months ended June 30, 2001 and 2000 and the cash flows for the
six  months  ended  June  30,  2001  and  2000.  Certain  information  and  note
disclosures  normally  included  in  financial statements prepared in accordance
with  generally  accepted  accounting  principles  ("GAAP")  have  been  omitted
pursuant to the rules and regulations of the Securities and Exchange Commission.
It  is  suggested  that  these  consolidated  financial  statements  be  read in
conjunction  with  the  consolidated  financial  statements  and  notes  thereto
included  in  the  Company's  Annual  Report  on  Form  10-KSB.  The  results of
operations for the three and six months ended June 30, 2001, are not necessarily
indicative  of  the  results  which  may be expected for the entire fiscal year.

NOTE  2.     ALLOWANCE  FOR  LOAN  LOSSES

Activity  in  the  allowance  for  loan  losses  is  summarized  as  follows:

<TABLE>
<CAPTION>




                                        (Dollars in thousands)
                                       Six
                                   Months Ended          Year Ended
                                     June 30,           December 31,
                                       2001                 2000
                              -----------------------  --------------
<S>                           <C>                      <C>
Balance, beginning of period  $                  532   $         491
Provision for loan losses. .                      20             110
Charge-offs. . . . . . . . .                     (34)            (69)
Recoveries . . . . . . . . .                      17               0
                              -----------------------  --------------

Balance, end of period . . .  $                  535   $         532
                              =======================  ==============

</TABLE>



NOTE  3.     ADVANCES  FROM  FEDERAL  HOME  LOAN  BANK

Borrowings  at June 30, 2001, consisted of one short-term advance and twenty-two
long-term  advances  totaling  $35.5  million from the Federal Home Loan Bank of
Cincinnati  ("FHLB").  The  advances  are  collateralized  by all shares of FHLB
stock owned by the Home City Federal Savings Bank of Springfield ("Bank") and by
the  Bank's  qualified  mortgage  loan  portfolio.


Scheduled  maturities  of  advances  from  the  FHLB  were  as  follows:

<TABLE>
<CAPTION>

                                                                  (Dollars in thousands)
                                             At June 30, 2001                         At December 31, 2000
                                   -----------------------------------         ----------------------------------
                                               Range of       Weighted-                 Range of         Weighted-
                                               interest        average                  interest          average
                                   Amount       rates       interest rate     Amount      rates        interest rate
                                  -------      --------     -------------     ------    --------       -------------
<S>                              <C>           <C>             <C>           <C>      <C>                 <C>
Due within
one year. . .                     $    25       6.30%           6.30%         $ 4,761  6.30%-6.75%         6.67%

After one but
within five
years . . . .                     $ 2,044    4.43%-8.35%         6.32%         $ 3,649  6.05%-8.35%         6.97%

After five
years . . . .                     $33,459    3.30%-7.28%        5.70%         $26,541  3.30%-7.28%         6.12%


</TABLE>



NOTE  4.     REGULATORY  CAPITAL

The  following  table  illustrates  the  compliance  by  the Bank with currently
applicable  regulatory  capital  requirements  at  June  30,  2001.

<TABLE>
<CAPTION>




                                                            (Dollars in thousands)
                                                                                                 To be
                                                                                          Categorized as "Well
                                                                                           Capitalized" Under
                                                                          For Capital      Prompt Corrective
                                                  Actual              Adequacy Purposes    Action Provisions
                                         -----------------------      -----------------   --------------------
                                            Amount      Ratio         Amount      Ratio    Amount      Ratio
                                            ------      -----         ------      -----    ------      -----
<S>                                        <C>         <C>           <C>         <C>      <C>         <C>
Total Risk-Based Capital
(To Risk-Weighted Assets)                   $11,887     12.1%         $ 7,832     8.0%     $ 9,790     10.0%

Tier I Capital
(To Risk-Weighted Assets)                   $10,990     11.2%             N/A      N/A     $ 5,874      6.0%

Tier I Capital
(To Total Assets)                           $10,990      8.4%         $ 5,260     4.0%*    $ 6,575      5.0%

Tangible Capital
(To Total Assets)                           $10,990      8.4%         $ 1,973     1.5%         N/A       N/A

* Although the general required minimum is 4%, savings associations that meet certain requirements may be
permitted to maintain minimum Tier I Capital to adjusted total assets of 3%.
</TABLE>

NOTE  5.     EARNINGS  PER  SHARE

Earnings per share ("EPS") is computed in accordance with Statement of Financial
Accounting  Standards  ("SFAS") No. 128, "Earnings per Share", which was adopted
by  HCFC  as of December 31, 1997.  Common stock equivalents include shares held
by  the  Company's Employee Stock Ownership Plan ("ESOP") that are committed for
release,  shares  awarded  but  not released under the Company's Recognition and
Retention  Plan  ("RRP"),  and stock options granted under the Stock Option Plan
("SOP").  Following  is  a  reconciliation of the numerators and denominators of
the  basic  and  diluted  EPS  calculations.


<TABLE>
<CAPTION>
                                                      For the Three Months Ended
                                                      --------------------------
                                                             June 30, 2001
                                                             -------------
                                                               Weighted-
                                                                average          Per
                                               Income           Shares          Share
                                            (Numerator)      (Denominator)      Amount
                                            -----------      -------------      ------
<S>                                          <C>               <C>              <C>

Basic EPS
 Income available to common shareholders      $193,336          752,301          $0.26

Effect of dilutive securities
 RRP shares                                          0           10,258
 ESOP shares                                         0           45,704
 Stock options                                       0            3,337
                                              --------          -------

Diluted EPS
 Income available to common shareholders +    $193,336          811,600          $0.24
   assumed conversions
</TABLE>
<TABLE>
<CAPTION>
                                                      For the Three Months Ended
                                                      --------------------------
                                                             June 30, 2000
                                                             -------------
                                                               Weighted-
                                                                average          Per
                                               Income           Shares          Share
                                            (Numerator)      (Denominator)      Amount
                                            -----------      -------------      ------
<S>                                          <C>               <C>              <C>

Basic EPS
 Income available to common shareholders      $248,077          746,898          $0.33

Effect of dilutive securities
 RRP shares                                          0           16,280
 ESOP shares                                         0           53,322
 Stock options*                                      0                0
                                              --------          -------

Diluted EPS
 Income available to common shareholders +    $248,077          816,500          $0.30
   assumed conversions

*Because the exercise prices of the options exceed the fair
market value at June 30, 2000, the shares subject to options
are not included in calculating diluted earnings per share.
</TABLE>
<TABLE>
<CAPTION>

                                                     For the Six Months Ended
                                                     ------------------------
                                                          June 30, 2001
                                                          -------------
                                                               Weighted-
                                                                 average       Per
                                               Income            Shares       Share
                                             (Numerator)      (Denominator)   Amount
                                             -----------      -------------   ------
<S>                                           <C>               <C>           <C>
Basic  EPS
 Income available to common shareholders       $488,683          754,042       $0.65

Effect  of  dilutive  securities
 RRP shares                                           0           16,412
 ESOP shares                                          0           53,322
 Stock options                                        0                0
                                               --------           ------

Diluted  EPS
 Income  available  to  common  shareholders +
 assumed conversions                           $488,683           823,776      $0.59


                                                      For the Six Months Ended
                                                      ------------------------
                                                           June 30, 2000
                                                           -------------
                                                                Weighted-
                                                                  average       Per
                                               Income             Shares       Share
                                            (Numerator)        (Denominator)   Amount
                                            -----------        -------------   ------
<S>                                          <C>                 <C>           <C>
Basic  EPS
 Income available to common shareholders     $468,869            777,687       $0.60

Effect  of  dilutive  securities
 RRP shares                                          0            20,763
 ESOP shares                                         0            60,940
 Stock options*                                      0            24,164
                                              ---------           ------

Diluted  EPS
 Income  available  to  common  shareholders +
 assumed conversions                          $468,869           883,554       $0.53

*  Because  the  exercise  prices of the options exceed the fair market value at
June  30,  2000, the   shares subject to options are not included in calculating
diluted  earnings  per  share.
</TABLE>


ITEM  2.  -  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION
                            AND RESULTS OF OPERATIONS

SAFE  HARBOR  CLAUSE

     This  report  contains  certain  "forward-looking statements."  The Company
desires  to  take  advantage  of  the  "safe  harbor"  provisions of the Private
Securities Litigation Reform Act of 1995 and is including this statement for the
express  purpose  of  availing itself of the protection of such safe harbor with
respect  to  all  such  forward-looking  statements.  These  forward-looking
statements, which are included in Management's Discussion and Analysis, describe
future  plans  or  strategies  and  include the Company's expectations of future
financial  results.  The  words  "believe,"  "expect," "anticipate," "estimate,"
"project,"  and  similar  expressions  identify forward-looking statements.  The
Company's ability to predict results or the effect of future plans or strategies
is  inherently  uncertain.  Factors,  which could affect actual results, include
interest  rate trends, the general economic climate in the Company's market area
and  the  country as a whole, loan delinquency rates, and changes in federal and
state  regulations.  These  factors  should  be  considered  in  evaluating  the
forward-looking  statements,  and  undue  reliance  should not be placed on such
statements.  See  Exhibit  99.2  attached hereto, "Safe Harbor Under the Private
Securities  Litigation  Reform Act of 1995", which is incorporated by reference.

GENERAL

     In September 1996, the Board of Directors of Home City Federal Savings Bank
of  Springfield  ("Bank") adopted a Plan of Conversion ("Plan") whereby the Bank
would  convert  to  the stock form of ownership, followed by the issuance of all
the  Bank's  outstanding  stock  to  a  newly  formed holding company, Home City
Financial  Corporation  ("Company").  Pursuant  to the Plan, the Company offered
common  shares  for  sale  to  certain depositors of the Bank and members of the
community.  The  conversion  was completed on December 30, 1996, and resulted in
the  issuance of 952,200 common shares of the Company which, after consideration
of  offering  expenses  totaling  approximately  $447,000 and $762,000 in shares
purchased by the ESOP ("Employee Stock Ownership Plan"), resulted in net capital
proceeds of $8.3 million.   Consolidated financial statements of the Company are
presented  herein.  Future references are made either to the Company or the Bank
as  applicable.

     The  Company is a unitary savings and loan holding company whose activities
are  primarily  limited  to  holding the stock of the Bank.  The Bank conducts a
general  banking  business  in  west  central  Ohio which consists of attracting
deposits  from the general public and applying those funds to the origination of
loans  for  residential,  consumer  and  non-residential purposes. The Bank also
originates  loans  for  the  construction  of  residential real estate and loans
secured  by  multifamily  real  estate  (over  four units), commercial loans and
consumer  loans.  The  Bank's  profitability  is  significantly dependent on net
interest  income, which is the difference between interest income generated from
interest-earning  assets  (i.e., loans and investments) and the interest expense
paid  on  interest-bearing  liabilities  (i.e.,  customer  deposits and borrowed
funds).  Net  interest  income  is  affected  by  the  relative  amount       of
interest-earning  assets  and interest-bearing liabilities and interest received
or  paid on these balances.  The level of interest rates paid or received by the
Bank  can be significantly influenced by a number of environmental factors, such
as  governmental  monetary  policy,  that  are  outside  of  management control.

     The  consolidated  financial information presented herein has been prepared
in accordance with generally accepted accounting principles ("GAAP") and general
accounting  practices  within  the  financial  services  industry.  In preparing
consolidated  financial  statements  in  accordance  with  GAAP,  management  is
required  to  make estimates and assumptions that affect the reported amounts of
assets  and  liabilities and the disclosure of contingent assets and liabilities
at  the  date  of  the financial statements and revenues and expenses during the
reporting  period.  Actual  results  could  differ  from  such  estimates.

     The  Bank  is regulated by the Office of Thrift Supervision ("OTS") and its
deposits  are  insured  up  to  applicable  limits under the Savings Association
Insurance  Fund  ("SAIF") of the Federal Deposit Insurance Corporation ("FDIC").

     The  Bank  is  a  member  of  the FHLB, conducting its business through its
office  located  in  Springfield,  Ohio.  The primary market area of the Bank is
Clark  County,  Ohio,  and  contiguous  counties.



                         CHANGES IN FINANCIAL CONDITION

     At  June  30,  2001,  the consolidated assets of the Company totaled $131.8
million,  an increase of $8.3 million, or 6.73%, from $123.5 million at December
31, 2000.  The increase in total assets was primarily the result of increases in
loans  receivable,  cash  and  cash  equivalents,  cash  surrender value of life
insurance  policies  and  properties  and equipment, funded primarily by an $8.1
million  increase  in  deposits.

     Net  loans  receivable  decreased  by  $1.0 million during the three months
ended  June  30, 2001, partially offsetting the $4.1 million increase during the
first  three  months  of  2001.  The  net  increase  in  loans outstanding since
December  31,  2000,  was $3.0 million, or 2.73%.  The increase was primarily in
the  non-residential  real  estate  and  commercial  loan  portfolio.

     The cash surrender value of life insurance policies increased $1.6 million,
or  144.92%,  to  $2.6  million  from  $1.1  million  at December 31, 2000.  The
increase  was  primarily attributed to the purchase of additional life insurance
on  certain  members of the Board of Directors during the first quarter of 2001.

     The  $1.6  million increase in properties and equipment was a direct result
of  additional  expenditures  related to the construction of the Bank's new main
office  facilities,  which  were  completed  during  July  2001.

     Total  cash  and  cash  equivalents increased by $235,000 during the second
quarter  of  2001  in addition to the $915,000 increase experienced in the first
quarter  of  2001.  Federal  funds  sold  and other overnight deposits increased
$747,000,  or  273.63%,  from  $273,000  at  December  31, 2000.  Total cash and
balances  due  from  correspondent banks increased by $403,000 from the December
31,  2000,  balances.

     Investment  securities  increased  $113,000, or 3.12%, from $3.6 million at
December 31, 2000, to $3.7 million at June 30, 2001.  The increase was primarily
the  result  of  the  net  increase  in  the  Bank's  municipal  bond  holdings.

     During  the  six  months ended June 30, 2001, $94,000 of principal payments
were  received  on  mortgage-  backed  and  related securities.  During the same
six-month  period,  $976,000  was  allocated  for  the  purchase  of  additional
securities.

     Deposit  liabilities  increased  $701,000,  or 0.85%, from $82.5 million at
March 31, 2001, to $83.2 million at June 30, 2001.  This increase is in addition
to  the  $7.4  million  increase  experienced  during the first quarter of 2001.
Management  attributes  the  increase to the maintenance of competitive rates in
the  Bank's  market area.  Interest credited on accounts also contributed to the
increase.

     Advances from the FHLB decreased $1.1 million, or 3.01%, from $36.6 million
at  March  31, 2001, to $35.5 million at June 30, 2001.  The funds obtained from
additional  deposits were utilized to repay several of the outstanding advances.

     Total  shareholders'  equity  remained  relatively  constant,    increasing
$68,000,  or 0.58%, from December 31, 2000, to June 30, 2001.  This increase was
primarily  the  result of  $467,000 in earnings for the first six months of 2001
and  the $8,000 RRP distribution being offset by the purchase of treasury shares
for  $130,000,  the  $178,000  cash dividend payments and the $99,000 unrealized
losses  on  securities  available-for-sale.

     The  Bank's  liquidity, primarily represented by cash and cash equivalents,
is  a  result  of  its operating, investing and financing activities.  Principal
sources  of  funds are deposits, loan and mortgage-backed securities repayments,
maturities  of securities and other funds provided by operations.  The Bank also
has  the ability to borrow from the FHLB and other local financial institutions.
While  scheduled  loan  repayments  and  maturing  investments  are  relatively
predictable,  deposit  flows  and  early  loan  and  mortgage-backed  security
prepayments  are  more influenced by interest rates, general economic conditions
and  competition.  The  Bank  maintains  investments in liquid assets based upon
management's  assessment of (i) the need for funds, (ii) expected deposit flows,
(iii)  the  yields available on short-term liquid assets and (iv) the objectives
of  the asset/liability management program.  In the ordinary course of business,
part  of  such  liquid  investments  portfolio  is  composed  of  deposits  at
correspondent banks.  Although the amount on deposit at such banks often exceeds
the  $100,000  limit covered by FDIC insurance, the Bank monitors the capital of
such  institutions  to ensure that such deposits do not expose the Bank to undue
risk  of  loss.

     OTS  regulations  presently  require  the Bank to maintain an average daily
balance of liquid assets, which may include, but are not limited to, investments
in  United  States  Treasury,  federal  agency obligations and other investments
having  maturities  of  five years or less, in an amount sufficient to provide a
source  of  relatively liquid funds upon which the Bank may rely if necessary to
fund  deposit  withdrawals or other short-term funding needs.  At June 30, 2001,
the  Bank's  regulatory  liquidity  ratio was 4.77%.  At such date, the Bank had
commitments  to  originate  loans  totaling  $11.6  million,  no  commitments to
purchase  or  sell  loans and a commitment of $200,000 for the construction of a
new  main  office.  The  Bank  considers  its  liquidity  and  capital  reserves
sufficient  to  meet its outstanding short- and long-term needs.  Adjustments to
liquidity  and  capital  reserves  may  be  necessary,  however,  if loan demand
increases  more  than  expected  or  if  deposits  decrease  substantially.

     The  Bank  is  required  by  applicable  law and regulation to meet certain
minimum  capital  standards.  Such  capital standards include a tangible capital
requirement,  a  core  capital  requirement  or  leverage ratio and a risk-based
capital  requirement.  See "Note 4 - Regulatory Capital."  The Bank exceeded all
of  its  capital  requirements  at  June  30,  2001.

     Savings  associations  are  required  to maintain "tangible capital" of not
less  than 1.5% of the association's adjusted total assets.  Tangible capital is
defined  in  OTS  regulations  as  core  capital  less  intangible  assets.

     Core  capital  is  comprised  of  common  stockholders'  equity  (including
retained  earnings), noncumulative preferred stock and related surplus, minority
interests  in  consolidated  subsidiaries,  certain nonwithdrawable accounts and
pledged  deposits  of  mutual  associations.  OTS  regulations  require  savings
associations,  except  for  associations  that  meet  certain  requirements,  to
maintain core capital of at least 4% of the association's adjusted total assets.

     OTS  regulations  require  that  savings  associations maintain "risk-based
capital"  in  an  amount not less than 8.0% of risk-weighted assets.  Assets are
weighted  at  percentage  levels  ranging  from  0%  to  100% depending on their
relative  risk.  Risk-based  capital  is  defined  as  core capital plus certain
additional  items  of  capital, which in the case of the Bank includes a general
loan  loss  allowance  of  $535,000  at  June  30,  2001.

     On  January  29,  2001,  the  Board  of Directors of the Company declared a
quarterly  cash dividend in the amount of $0.11 per share to each shareholder of
record  on March 2, 2001, paid on March 15, 2001.  On May 29, 2001, the Board of
Directors  of  the  Company  declared a quarterly cash dividend in the amount of
$0.11  per share to each shareholder of record on June 8, 2001, paid on June 15,
2001.


                              RESULTS OF OPERATIONS

COMPARISON  OF  THREE  MONTHS  ENDED  JUNE  30,  2001  AND  2000

     GENERAL.  Net  income  decreased  $54,000, or 21.77%, from $248,000 for the
three  months  ended  June 30, 2000, to $194,000 for the three months ended June
30,  2001.  This  decrease  was  primarily  attributed  to  $204,000  more    in
noninterest  expense, and a decrease of $40,000 in net interest income which was
partially offset by an increase of $131,000 in noninterest income and a decrease
of  $59,000  in  the  provision  for  federal  income  tax  expense.

     INTEREST  INCOME.  The  $16.6  million  increase  in average earning assets
contributed  to  an  increase in interest income of $269,000, or 11.50%, for the
three  months  ended  June  30,  2001  compared  to the same period in 2000. The
increase  was  attributed  mainly  to  the  additional  loan  income of $230,000
resulting  from  an  increase  in  loans receivable.  Of the overall increase in
interest  income,  $329,000  is  attributable  to earning asset volume increases
offset  by  a  decrease  of  $60,000  attributable  to  rate  or  yield.

INTEREST  EXPENSE.  Interest  expense on deposit liabilities increased $190,000,
or  20.11%,  for  the  three months ended June 30, 2001, as compared to the same
period in 2000.  The total average deposits increased by $10.2 million comparing
the  quarter  ended June 30, 2001 to 2000, and the average interest rate paid on
interest-bearing  deposits increased by 26 basis points from 5.45% for the three
months  ended  June  30, 2000, to 5.71% for the same period ended June 30, 2001.
The  average  balance  of  FHLB  advances  increased  from $28.2 million for the
three-month  period  ended  June  30, 2000, to $37.1 million for the same period
ended  June  30,  2001, resulting in an increase in interest on FHLB advances of
$113,000  for  the three months ended June 30, 2001, compared to the same period
ended  June  30, 2000.  Of the overall increase in interest expense, $281,000 is
attributable  to  interest  costing  liability  volume  increases and $28,000 is
attributable  to  increases  in  rates  paid.

     PROVISION  FOR  LOAN LOSSES.  The provision for loan losses was $10,000 and
there  were  net  charge-offs  of $17,000 during the three months ended June 30,
2001,  compared to a $10,000 provision and net charge-offs of $28,000 during the
three  months  ended June 30, 2000.  The provision was determined based upon the
results  of  the  ongoing  loan  reviews  and composition of the loan portfolio.

     NONINTEREST INCOME.  Noninterest income increased by $131,000 for the three
months  ended  June 30, 2001, compared to the same period in 2000.  The increase
was  related  to an increase of $14,000 income from life insurance contracts and
$115,000  in  other  income  related  primarily  to  the operations of Home City
Insurance  Agency,  Inc.  the  wholly  owned subsidiary of the Company.  Deposit
account  service  charge  income  also  increased by $2,000 compared to the same
quarter  in  2000.

     NONINTEREST EXPENSE.  Noninterest expense increased $204,000, or 30.91%, to
$864,000  for  the  three  months  ended  June  30,  2001,  from $660,000 in the
comparable  period  in  2000.  Of this increase, $169,000 was attributable to an
increase  in  compensation  and  benefit expense in 2001, reflecting the expense
associated  with  additional  staffing  related to preparations for the new main
office  operations  and  the  operation of the insurance agency.  The annualized
ratio of noninterest expense to average total assets was 2.62% and 2.35% for the
three  months  ended  June  30,  2001  and  2000,  respectively.

     INCOME  TAXES.  The  provision  for  income taxes decreased $59,000 for the
three  months  ended June 30, 2001, compared with the prior year, primarily as a
result  of  the  decrease  in  net  taxable income in the second quarter 2001 as
compared  to  the  same  quarter  in  2000.


COMPARISON  OF  SIX  MONTHS  ENDED  JUNE  30,  2001  AND  2000

GENERAL.  Net  income  decreased  $22,000,  or  4.50%, from $489,000 for the six
months  ended June 30, 2000, to $467,000 for the six months ended June 30, 2001.
This  decrease was primarily attributed to a decrease of $33,000 in net interest
income  and  an increase of $408,000 in noninterest expense which were partially
offset  by  the increase of $327,000 in noninterest income, the $87,000 decrease
in  federal  income  tax expense and a $5,000 decrease in the provision for loan
losses.

     INTEREST  INCOME.  The  $16.6  million  increase  in average earning assets
contributed  to  an  increase in interest income of $626,000, or 13.66%, for the
six  months  ended  June  30,  2001,  compared  to the same period in 2000.  The
increase was attributed to the additional loan income of $562,000 resulting from
an  increase  in loans receivable, and an increase of $64,000 in interest income
on  other  earning assets.  Of the overall increase in interest income, $663,000
is  attributable  to  earning  asset  volume  increases  offset by a decrease of
$37,000  attributable  to  rate  or  yield.

     INTEREST  EXPENSE.  Interest  expense  on  deposit  liabilities  increased
$357,000,  or 19.23%, for the six months ended June 30, 2001, as compared to the
same  period in 2000.  Total average interest-bearing deposits increased by $8.5
million  comparing  the  six months ended June 30, 2001 to 2000, and the average
interest  rate  paid  on  interest-bearing deposits increased by 33 basis points
from  5.41%  for the six-month period ended June 30, 2000, to 5.74% for the same
period ended June 30, 2001.  The average balance of FHLB advances increased from
$27.3 million for the six-month period ended June 30, 2000, to $36.9 million for
the  same  period  ended  June 30, 2001, resulting in an increase in interest on
FHLB advances of $288,000 for the six-month period ended June 30, 2001, compared
to  the  same  period  ended June 30, 2000.  Of the overall increase in interest
expense,  $509,000  is  attributable  to  interest  costing  liability    volume
increases,  and  $150,000  is  attributable  to  increases  in  rates  paid.

     PROVISION  FOR  LOAN LOSSES.  The provision for loan losses was $20,000 and
there were net charge-offs of $17,000 during the six months ended June 30, 2001,
compared  to  a  $25,000 provision and net charge-offs of $28,000 during the six
months  ended June 30, 2000.  The provision was decreased based upon the results
of  the  ongoing  loan  reviews  and  composition  of  the  loan  portfolio.

     NONINTEREST  INCOME.  Noninterest  income increased by $327,000 for the six
months  ended  June 30, 2001, compared to the same period in 2000.  The increase
was  related  to  the $184,000 increase in other income related primarily to the
operations  of  Home  City Insurance Agency, Inc. the wholly owned subsidiary of
the Company, the recognition of a $134,000 gain on the sale of equity securities
and  $6,000  and  $3,000  increases  in  service charges on deposit accounts and
income  from  life  insurance  contracts,  respectively.

     NONINTEREST EXPENSE.  Noninterest expense increased $408,000, or 31.07%, to
$1.7  million  for  the six months ended June 30, 2001, from $1.3 million in the
comparable  period  in  2000.  Of this increase, $307,000 was attributable to an
increase  in  compensation  and  benefit  expense in 2001, reflecting additional
staffing  related  to  preparations  for  the new main office operations and the
operation  of the insurance agency.  The annualized ratio of noninterest expense
to  average  total  assets was 2.65% and 2.37% for the six months ended June 30,
2001  and  2000,  respectively.

     INCOME TAXES.  The provision for income taxes decreased $87,000 for the six
months  ended June 30, 2001, compared with the prior year, primarily as a result
of  the  $109,000  decrease  in  net  income before federal income taxes and the
composition  of  the  taxable  and  non-taxable income for the six month period.

<PAGE>
                           PART II - OTHER INFORMATION

     ITEM

     1  -  LEGAL  PROCEEDINGS

              None

     2  -  CHANGES  IN  SECURITIES  AND  USE  OF  PROCEEDS

              Not  Applicable

     3  -  DEFAULTS  UPON  SENIOR  SECURITIES

              Not  Applicable

     4  -  SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

              Not  Applicable

     5  -  OTHER  INFORMATION

              Not  Applicable

     6  -  EXHIBITS  AND  REPORTS  ON  FORM  8-K

              a. No  report  on Form 8-K was filed during the quarter ended
                 June 30, 2001.

              b. Exhibit 99.2:  Safe Harbor Under the Private Securities
                                ----------------------------------------
                 Litigation Reform Act  of  1995.
                 -------------------------------

<PAGE>
SIGNATURES


     In accordance with the requirements of the Securities Exchange Act of 1933,
the  registrant  has  duly  caused this report to be signed on its behalf by the
undersigned,  thereunto  duly  authorized.





                              HOME  CITY  FINANCIAL  CORPORATION
August  13,  2001
                              _____________________
Date:                         Douglas  L.  Ulery
                              President


August  13,  2001
                              _____________________
Date:                         Charles  A.  Mihal
                              Treasurer  and  Chief
                              Financial  Officer

<PAGE>