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  MARCH  31,  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                                    45502
Springfield,  Ohio                                 -------------------
-----------------                                      (ZIP  CODE)
(ADDRESS  OF  PRINCIPAL  EXECUTIVE  OFFICES)


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

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

Check  whether  the issuer (1) filed all reports required to be filed by Section
13  or  15(d) of the Exchange Act during the past 12 months (or for such shorter
period  that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.      Yes   X      No
                                                                    --

As  of  April  30,  2001, 810,900 shares of Common Stock of the Registrant were
outstanding.  There  were  no  preferred  shares  outstanding.

7

                         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
          March  31,  2001,  and  December  31,  2000

          Consolidated  statements  of  income  --                 4
          Three  months  ended  March  31,  2001  and  2000

          Consolidated  statements  of  changes  in                5
          shareholders' equity  --  Three months ended March  31, 2001

          Consolidated  statements  of  cash  flows  --            6
          Three  months  ended  March  31,  2001  and  2000

          Notes  to  consolidated  financial  statements           7
          March  31,  2001,  and  December  31,  2000

    Item  2.  Management's  Discussion  and  Analysis of Financial Condition
              and  Results  of  Operations                        10

PART  II     OTHER  INFORMATION

    Item  1.  Legal  Proceedings                                  15

    Item  2.  Changes  in  Securities  and  Use  of  Proceeds     15

    Item  3.  Defaults  upon  Senior  Securities                  15

    Item  4.  Submission  of  Matters  to  a  Vote  of  Security  Holders
                                                                  15

    Item  5.  Other  Information                                  15

    Item  6.  Exhibits  and  Reports  on  Form  8-K               15

Signatures                                                        16

<PAGE>


                         HOME CITY FINANCIAL CORPORATION
                                SPRINGFIELD, OHIO
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>

                                                                   (Dollars in thousands)


                                                               (Unaudited)
                                                              --------------
                                                               At March 31,    At December 31,
                                                              --------------  -----------------
                                                                   2001             2000
                                                              --------------  -----------------
<S>                                                           <C>             <C>
ASSETS
Cash and cash equivalents
 Cash and due from banks                                      $       1,148   $          1,248
 Interest-bearing demand deposits in other banks                        128                 72
 Federal funds sold                                                   1,232                273
                                                              --------------  -----------------
   Total cash and cash equivalents                                    2,508              1,593

Time deposits with original maturities of 90 days or more                24                 24
Investment securities available-for-sale, at fair value               3,725              3,619
Mortgage-backed securities available-for-sale, at fair value          1,402                460
Loans, net                                                          115,006            110,945
Stock in Federal Home Loan Bank                                       1,980              1,779
Accrued interest receivable                                             703                670
Properties and equipment                                              3,530              2,281
Cash surrender value of life insurance                                2,599              1,073
Goodwill                                                                490                490
Other assets                                                            120                588
                                                              --------------  -----------------
  TOTAL ASSETS                                                $     132,087   $        123,522
                                                              ==============  =================

LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
Deposits                                                      $      82,517   $         75,077
Federal Home Loan Bank Advances                                      36,633             34,951
Note payable                                                            390                390
Accrued interest payable                                                245                227
Advance payments by borrowers for taxes and insurance                    87                144
Deferred income taxes                                                     2                127
Other liabilities                                                       353                800
                                                              --------------  -----------------

   TOTAL LIABILITIES                                                120,227            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                           8,118              7,934
Treasury shares, at cost                                             (1,920)            (1,886)
Accumulated other comprehensive income                                  345                449
Common shares purchased by:
 Employee Stock Ownership Plan                                         (457)              (457)
 Recognition and Retention Plan                                        (252)              (260)
                                                              --------------  -----------------

TOTAL SHAREHOLDERS' EQUITY                                           11,860             11,806
                                                              --------------  -----------------

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                    $     132,087   $        123,522
                                                              ==============  =================
</TABLE>

<TABLE>
<CAPTION>

HOME  CITY  FINANCIAL  CORPORATION
SPRINGFIELD,  OHIO
CONSOLIDATED  STATEMENTS  OF  INCOME

                                            (Dollars in thousands)


                                        (Unaudited)       (Unaudited)
                                       3 Months Ended    3 Months Ended
                                         March 31,         March 31,
                                      ----------------  ----------------
                                            2001              2000
                                      ----------------  ----------------
<S>                                   <C>               <C>
INTEREST INCOME
Loans                                 $          2,497  $          2,165
Mortgage-backed securities                          15                 6
Investment securities                               73                69
Interest-bearing demand deposits                     4                 4
Federal funds sold                                  12                 0
                                      ----------------  ----------------

 TOTAL INTEREST INCOME                           2,601             2,244

INTEREST EXPENSE
Deposits                                         1,078               911
Borrowed funds                                     556               373
                                      ----------------  ----------------

 TOTAL INTEREST EXPENSE                          1,634             1,284
                                      ----------------  ----------------

 NET INTEREST INCOME                               967               960
Provision for loan losses                           10                15
                                      ----------------  ----------------

 NET INTEREST INCOME AFTER PROVISION
   FOR LOAN LOSSES                                 957               945

NONINTEREST INCOME
Service charges on deposits                          7                 3
Life insurance                                      20                31
Gain on sale of securities, net                    134                 0
Other income                                        82                13
                                      ----------------  ----------------

 TOTAL NONINTEREST INCOME                          243                47

NONINTEREST EXPENSES
Salaries and employee benefits                     476               338
Supplies, telephone and postage                     32                23
Occupancy and equipment                             73                49
FDIC deposit insurance                               4                 3
Data processing                                     53                40
Legal, accounting and examination                   86                67
Franchise taxes                                     36                46
Other expenses                                      97                87
                                      ----------------  ----------------

 TOTAL NONINTEREST EXPENSES                        857               653
                                      ----------------  ----------------

 NET INCOME BEFORE FEDERAL INCOME
   TAX EXPENSE                                     343               339

Federal income tax expense                          70                98
                                      ----------------  ----------------

 NET INCOME                           $            273  $            241
                                      ================  ================

Earnings per common share - basic     $           0.36  $           0.32
Earnings per common share - diluted   $           0.34  $           0.29
</TABLE>

<TABLE>
<CAPTION>

HOME  CITY  FINANCIAL  CORPORATION
                                                      SPRINGFIELD, OHIO
                                 CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
                                      Number of shares                              (Dollars in thousands)


                                                                                                                     Amounts
                                                                                                                   Accumulated
                                                              Common      Common                                      other
                                                              shares      shares   Additional                        compre-
                                    Common     Treasury      purchased   purchased   paid-in  Retained   Treasury    hensive
                                    shares      shares        by ESOP     by RRP     capital  earnings    shares     income
                                    ------     --------      ---------   --------- ---------- --------   --------  ------------
<S>                            <C>            <C>         <C>          <C>         <C>       <C>        <C>         <C>
December 31, 1999                   952,200    (108,810)     (53,322)    (16,780)  $  6,033  $   7,288  $  (1,516)  $    309

Net income                                                                                         994
Other comprehensive income
  Change in unrealized
  gain (loss) on securities
  available-for-sale, net of
  deferred income
  tax of $72                                                                                                             140
Comprehensive income
Purchase of treasury shares                     (29,390)                                                     (370)
Shares allocated under
  Employee Stock
  Ownership Plan                                               7,618
Shares earned under
  Recognition and
  Retention Plan                                                           6,022          (7)
Dividends declared
 ($.425 per share)                                                                                (348)
-------------
Balance at December 31, 2000        952,200    (138,200)     (45,704)    (10,758)  $  6,026  $   7,934  $  (1,886)
Net income                                                                                         273
Other comprehensive income
  Change in unrealized
  gain (loss) on securities
  available-for-sale, net of
  deferred income
  tax of $(54)                                                                                                           (104)
Comprehensive income
Purchase of treasury shares                      (3,100)                                                      (34)
Shares earned under
  Recognition and
  Retention Plan                                                             500
Dividends declared
  ($.11 per share)                                                                                 (89)
                               -------------  ----------  ----------  ----------  --------  ----------  ----------  ---------
March 31, 2001                      952,200    (141,300)     (45,704)    (10,258)  $  6,026  $   8,118  $  (1,920)   $    345
                               =============  ==========  ===========  ==========  ========  =========  ==========   ========

                                 Common       Common
                                 shares       shares       Compre-
                                purchased    purchased     hensive
                                 by ESOP      by RRP       income
                               -----------  -----------    -------
<S>                            <C>          <C>           <C>
December 31, 1999               $     (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
                                                           ------
Comprehensive income                                       $1,134
                                                           ======
Purchase of treasury shares
Shares allocated under
  Employee Stock
  Ownership Plan                        76
Shares earned under
  Recognition and
  Retention Plan                                    105
Dividends declared
 ($.425 per share)
                                -----------  ----------
Balance at December 31, 2000     $     (457)  $    (260)

Net income                                                 $  273
Other comprehensive income
  Change in unrealized
  gain (loss) on securities
  available-for-sale, net of
  deferred income
  tax of $(54)                                               (104)
                                                           ------
Comprehensive income                                       $  169
                                                           ======
Purchase of treasury shares
Shares earned under
  Recognition and
  Retention Plan                                      8
Dividends declared
 ($.11 per share)
March 31, 2001                   $     (457) $     (252)
                               ===========   ==========
</TABLE>

<TABLE>
<CAPTION>

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

                                                                    (Dollars in thousands)


                                                                    (Unaudited)
                                                                  3 Months Ended   3 Months
                                                                       Ended        Ended
                                                                     March 31,     March 31,
                                                                  --------------   ---------
                                                                         2001        2000
                                                                  --------------   ---------
<S>                                                                  <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net income                                                           $       273   $   241
Adjustments to reconcile net income to net cash
 provided by operating activities:
   Premium amortization, net of discount accretion                             4         7
   Provision for loan losses                                                  10        15
   (Gain) loss on sale of securities                                        (134)        0
   Depreciation                                                               21        19
   Deferred income taxes                                                      28       (15)
   Life insurance income, net of expenses                                    (16)      (26)
   Employee Stock Ownership Plan compensation expense                         24         0
   Recognition and Retention Plan compensation expense                        24        22
   FHLB stock dividends                                                      (34)      (24)
   Net change in:
     Accrued interest receivable                                             (33)      (59)
     Accrued interest payable                                                 18         9
     Other assets                                                            468       (51)
     Other liabilities                                                      (447)      (12)
                                                                     ------------  --------
 NET CASH PROVIDED BY OPERATING ACTIVITIES                                   206       126
                                                                     ------------  --------

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of securities available-for-sale                                 (2,551)     (287)
Proceeds from sales of securities available-for-sale                       1,888         0
Proceeds from maturities of securities available-for-sale                    400         0
Purchase of mortgage-backed securities available-for-sale                   (976)        0
Collections on mortgage-backed securities available-for-sale                  16        32
Purchase of additional BOLI                                               (1,510)        0
Net increase in loans                                                     (4,071)   (4,060)
Purchases of properties and equipment                                     (1,270)       (8)
Purchase of FHLB stock                                                      (167)        0
                                                                     ------------  --------
 NET CASH USED IN INVESTING ACTIVITIES                                    (8,241)   (4,323)
                                                                     ------------  --------

CASH FLOWS FROM FINANCING ACTIVITIES
Net increase in deposits                                                   7,440     2,073
Net increase (decrease) in short-term FHLB advances                       (3,700)      800
Proceeds from new long-term FHLB advances                                  6,994       225
Payments on long-term FHLB advances                                       (1,612)     (153)
Net change in advance payments by borrowers for taxes and insurance          (57)      (35)
Distribution of common shares by Recognition and Retention Plan                8         9
Purchase of treasury shares                                                  (34)     (346)
Cash dividends paid                                                          (89)      (87)
                                                                     ------------  --------


 NET CASH PROVIDED BY FINANCING ACTIVITIES                                 8,950     2,486
                                                                     ------------  --------

 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                        915    (1,711)

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

CASH AND CASH EQUIVALENTS AT END OF PERIOD                           $     2,508   $ 1,772
                                                                     ============  ========
</TABLE>





                         HOME CITY FINANCIAL CORPORATION

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                      MARCH 31, 2001, AND DECEMBER 31, 2000

                                   (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
March  31,  2001,  and  December  31,  2000,  and  the  consolidated  results of
operations  and  the  cash  flows  for the three months ended March 31, 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 months ended March 31, 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)


                                 Three
                              Months Ended     Year Ended
                                March 31,     December 31,
                                  2001            2000
                              -------------  --------------
<S>                           <C>            <C>
Balance, beginning of period  $         532  $         491
Provision for loan losses                10            110
Charge-offs                               0            (69)
Recoveries                                0              0
                              -------------  --------------

Balance, end of period        $         542  $         532
                              =============  ==============
</TABLE>



NOTE  3.  ADVANCES  FROM  FEDERAL  HOME  LOAN  BANK

Borrowings  at  March  31, 2001, consisted of three short-term advances totaling
$1.0 million and twenty-three long-term advances totaling $35.6 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 March 31, 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      $            1,043    5.38%-6.30%         5.49%          $ 4,761    6.30%-6.75%      6.67%

After one but
 within five
 years         $            2,090    5.79%-8.35%         6.83%          $ 3,649    6.05%-8.35%      6.97%

After five
 years         $           33,500    3.30%-7.28%         5.73%          $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  March  31,  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)  $11,542   12.6%      $   7,344       8.0%          $   9,180        10.0%

Tier I Capital
    (To Risk-Weighted Assets)  $10,945   11.9%            N/A        N/A          $   5,508         6.0%

Tier I Capital
      (To Total Assets)        $10,945    8.3%      $   5,268       4.0%*         $   6,585         5.0%

Tangible Capital
      (To Total Assets)        $10,945    8.3%      $   1,976       1.5%                N/A         N/A

</TABLE>


*     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%.

<PAGE>

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  and  not  subject  to  a  loan pledge agreement, 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
                                                      --------------------------
                                                             March 31, 2001
                                                             --------------

                                                             Weighted-average     Per
                                                  Income          Shares         Share
                                               (Numerator)     (Denominator)    Amount
                                               ------------  -----------------  -------
<S>                                            <C>           <C>                <C>
Basic EPS
    Income available to common shareholders    $    273,480            756,830  $  0.36

    Effective of dilutive securities
    RRP shares                                            0             10,536
    ESOP shares                                           0             45,704
    Stock options*                                        0                  0
                                               ------------         ----------  -------

Diluted EPS
    Income available to common shareholders +
    assumed conversions                        $    273,480            813,070  $  0.34
                                               ============  =================  =======

</TABLE>


*     Because the exercise prices of the options exceed the fair market value at
March  31,  2001,  the shares subject to options are not included in calculating
diluted  earnings  per  share.

<TABLE>
<CAPTION>


                                                     For the Three Months Ended
                                                     --------------------------
                                                          March 31, 2000
                                                          --------------

                                                               Weighted-
                                                                average       Per
                                                  Income        Shares       Share
                                               (Numerator)   (Denominator)  Amount
                                               ------------  -------------  -------
<S>                                            <C>           <C>            <C>
Basic EPS
    Income available to common shareholders    $    240,606        761,187  $  0.32

    Effective of dilutive securities
    RRP shares                                            0         16,544
    ESOP shares                                           0         53,322
    Stock options*                                        0              0
                                               ------------    ------------ -------

Diluted EPS
    Income available to common shareholders +
    assumed conversions                        $    240,606        831,053  $  0.29
                                               ============  =============  =======

</TABLE>


*   Because  the  exercise prices of the options exceed the fair market value at
March  31,  2000,  the  shares  subject  to
     options  are  not  included  in  calculating  diluted  earnings  per share.

<PAGE>
                         HOME CITY FINANCIAL CORPORATION

           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.  Condensed 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.

EFFECT  OF  YEAR  2000

     Home  City did not experience any problems as the year changed from 1999 to
2000.  Management had placed significant emphasis on ensuring that its operating
systems  were  Year  2000  ("Y2K")  compliant.

     In  mid-1997, the Board of Directors had appointed a Year 2000 Committee to
address  the  operating  systems that were at risk and to develop an Action Plan
Year  2000.  As operating risks were identified, Home City repaired, replaced or
upgraded  the related equipment and systems.  Home City was primarily reliant on
third-party  vendors  for  its  computer  output and processing, so considerable
effort  was  placed  on  assessing  their  Y2K readiness.  A business resumption
contingency  plan was developed inclusive of cash management aspects to minimize
or  avoid  any  possible  customer  inconvenience.

     Home City had projected costs of $79,000 for Y2K preparedness.  Some of the
major  factors  included  were  the  use  of  external consultants, purchases of
hardware and software, the purchase, printing and delivery of customer awareness
materials  and  the  borrowing  and  lost  opportunity costs associated with the
build-up of a sufficient source of cash to meet customer needs.  Actual expenses
amounted  to  approximately  $83,000,  the  bulk  of  which was reflected in the
Consolidated  Financial  Statements  for  1999.


                         CHANGES IN FINANCIAL CONDITION

     At  March  31,  2001, the consolidated assets of the Company totaled $132.1
million,  an increase of $8.6 million, or 6.93%, from $123.5 million at December
31,  2000.  The  increase  in  total  assets  was primarily the result of a $4.1
million increase in loans receivable funded primarily by a $7.4 million increase
in  deposits  and  $1.7  increase  in  advances  from  the  FHLB.

     Net loans receivable increased by $4.1 million, or 3.66%, to $115.0 million
at  March  31,  2001,  compared  to  $110.9  million  at December 31, 2000.  The
increase  was  primarily  in the non-residential real estate and commercial loan
portfolio.

     The cash surrender value of life insurance policies increased $1.5 million,
or 142.22% 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.

     The  $1.2 million increase in property and equipment was a direct result of
additional  expenditures  related  to  the  construction  of the Bank's new main
office  facilities  which  are  expected  to  be  completed  during  June  2001.

     Total  cash  and  cash  equivalents  increased by $915,000 during the first
quarter  of  2001.  Federal funds sold and other overnight deposits increased by
$959,000,  or  351.28%,  from  $273,000  at  December  31, 2000.  Total cash and
balances  due  from  banks  decreased  by  $44,000  from  the December 31, 2000,
balances.

     During the three months ended March 31, 2001, $16,000 of principal payments
was received on mortgage-backed and related securities ("MBS").  During the same
three-month  period  $976,000  was  allocated  for  the  purchase  of additional
securities.

     Deposit liabilities increased $7.4 million, or 9.91%, from $75.1 million at
December  31,  2000,  to $82.5 million at March 31, 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 increased $1.7 million, or 4.81%, from $35.0 million
at  December  31,  2000,  to $36.6 million at March 31, 2001. The funds obtained
were utilized to support the increased loan demand, capital expenditures and the
increases  in  other  earning  assets.

     Total  shareholders'  equity  remained  relatively  constant,  increasing
$54,000, or 0.46%, from December 31, 2000, to March 31, 2001.  This increase was
primarily  the  result  of  $273,000  of  first  quarter  2001  income which was
partially  offset  by  the  $104,000 decrease in unrealized losses on securities
available-for-sale,  the  $89,000 cash dividend payment, the purchase of $34,000
of  treasury  shares, and net of the $8000 increase from the RRP distribution.

     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  investment  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 equal to 4.00% of the sum
of  the  Bank's  average  daily balance of net withdrawable deposit accounts and
borrowings payable in one year or less.  The liquidity requirement, which may be
changed from time to time by the OTS to reflect changing economic conditions, is
intended  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  March  31,  2001,  the Bank's regulatory liquidity ratio was 4.25%.  At such
date,  the Bank had commitments to originate loans totaling $12.0 million and no
commitments  to  purchase  or  sell loans.  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  March  31,  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  $542,000  at  March  31,  2001.

     At  March  31, 2001, the Bank had committed to capital expenditures of $2.9
million  for  the  construction  of  a  new  main  office  and operations center
scheduled  for  completion  in  mid  2001.

     On  January  29,  2001,  the  Board  of Directors of the Company declared a
quarterly  cash  dividend in the amount of $.11 per share to each shareholder of
record  on  March  2,  2001,  paid  on  March  15,  2001.



                              RESULTS OF OPERATIONS

COMPARISON  OF  THREE  MONTHS  ENDED  MARCH  31,  2001  AND  2000

     GENERAL.  Net  income  increased  $32,000, or 13.28%, from $241,000 for the
three  months ended March 31, 2000, to $273,000 for the three months ended March
31,  2001.  This  increase was primarily attributed to the realized gains on the
sale  of  securities being partially offset by increases in noninterest expense.

     INTEREST  INCOME.  The  $16.6  million  increase  in average earning assets
contributed  to  an  increase in interest income of $357,000, or 15.91%, for the
three  months  ended  March  31, 2001, compared to the same period in 2000.  The
increase  was  attributed  to  the  $317,000  increase  in  loan income from the
increased  loan receivable balances. Of the overall increase in interest income,
$349,000  is  attributable  to earning asset volume increases and an increase of
$8,000  attributable  to  rate  or  yield.

     INTEREST  EXPENSE.  Interest  expense  on  deposit  liabilities  increased
$167,000,  or  18.33%, for the three months ended March 31, 2001, as compared to
the  same  period  in  2000.  Total  average  deposits increased by $6.8 million
comparing  the  quarters ended March 31, 2001 and 2000, and the average interest
rate  paid  on interest-bearing deposits increased by 41 basis points from 5.36%
for the three months ended March 31, 2000, to 5.77% for the same period in 2001.
The  average  balance  of  FHLB  advances  increased  from $26.4 million for the
three-month period ended March 31, 2000, to $36.8 million for the same period in
2001,  resulting in an increase in interest on FHLB advances of $175,000 for the
three  months  ended  March  31, 2001, compared to the same period in 2000.  The
addition  of $390,000 in notes payable increased interest expense $8,000 for the
three months ended March 31, 2001.  Of the overall increase in interest expense,
$244,000  is attributable to interest costing liability volume increases, and an
increase  of  $106,000  is  attributable  to  rates  paid.

     PROVISION  FOR  LOAN LOSSES.  The provision for loan losses was $10,000 and
there  were  no  net  charge-offs  during the three months ended March 31, 2001,
compared  to  a $15,000 provision and no net charge-offs during the three months
ended March 31, 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 $196,000 for the three
months  ended March 31, 2001, compared to the same period in 2000.  The increase
was  related  to  recognition  of  a  $134,000  gain  on  the sale of investment
securities  and  $69,000  in  other income related primarily to HCIA operations.
These  increases  were  partially  offset  by the decrease of $11,000 in the net
income  generated  by  life  insurance  policies.

     NONINTEREST EXPENSE.  Noninterest expense increased $204,000, or 31.24%, to
$857,000  for  the  three  months  ended  March  31,  2001, from $653,000 in the
comparable  period  in  2000.  Of this increase, $138,000 was attributable to an
increase in compensation and benefit expense in 2001, reflecting the addition of
staff related to preparation for the growth of the Bank and the insurance agency
subsidiary.  Data  processing  expense  increased $13,000, or 32.50%, and legal,
accounting and examination expense increased $19,000, or 28.36%, compared to the
same  period  in  2000.  The  annualized ratio of noninterest expense to average
total  assets  was 2.68% and 2.39% for the three months ended March 31, 2001 and
2000,  respectively.

     INCOME  TAXES.  The  provision  for  income taxes decreased $28,000 for the
three  months ended March 31, 2001, compared with the prior year, primarily as a
result of the composition of the taxable and non-taxable income for the quarter.


<PAGE>
                         HOME CITY FINANCIAL CORPORATION
                                SPRINGFIELD, OHIO
                           PART II - OTHER INFORMATION


ITEM  1  -  LEGAL  PROCEEDINGS

     None


ITEM  2  -  CHANGES  IN  SECURITIES  AND  USE  OF  PROCEEDS

     Not  Applicable


ITEM  3  -  DEFAULTS  UPON  SENIOR  SECURITIES

     Not  Applicable


ITEM  4  -  SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

     On April 25, 2001, the Corporation held its Annual Meeting of Shareholders.

     Each of the five directors nominated were elected to terms expiring in 2002
by  the  following     votes:

   Glenn  W.  Collier   For:  673,478   Withheld:  22,337   Broker Non-votes  0
   John  D.  Conroy     For:  675,778   Withheld:  20,037   Broker Non-votes  0
   James  Foreman       For:  675,253   Withheld:  20,562   Broker Non-votes  0
   Terry  A.  Hoppes    For:  676,278   Withheld:  19,537   Broker Non-votes  0
   Douglas  L.  Ulery   For:  675,621   Withheld:  20,194   Broker Non-votes  0

     One other matter was submitted to the shareholders, for which the following
votes  were  cast:

     Ratification  of  the  selection  of  Dixon,  Francis,  Davis  &  Company
     as  the  auditors  of Home City Financial Corporation for the current year:

<TABLE>
<CAPTION>



<S>   <C>      <C>       <C>     <C>       <C>  <C>                <C>
            For:  676,027  Against:  19,188  Abstain:  600  Broker-Non-votes:  0

</TABLE>




ITEM  5  -  OTHER  INFORMATION

     Not  Applicable


ITEM  6  -  EXHIBITS  AND  REPORTS  ON  FORM  8-K

  a. No  report on Form 8-K was filed during the quarter ended March 31, 2001.
  b. Exhibit  99.2  Safe  Harbor  Under  the Private 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



Date:       May  11,  2001
     -----------------------------      ----------------------------------------
                                        Douglas  L.  Ulery
                                        President

 Date:       May  11,  2001
     -----------------------------      ----------------------------------------
                                        Charles  A.  Mihal
                                        Treasurer  and  Chief  Financial Officer