SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                 FORM 10-QSB

[X]  QUARTERLY REPORT UNDER SECTION 13 OF 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

                 For the quarterly period ended June 30, 1997

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT

For the transition period from                        to 
                               ----------------------    ----------------------

                        Commission File Number 0-22535

                          Sistersville Bancorp, Inc.
            (Exact name of registrant as specified in its charter)

Delaware                                                            31-1516424
--------                                                           -----------
(State or other jurisdiction of              (IRS Employer Identification No.)
incorporation or organization)


                    726 Wells Street, Sistersville, WV 26175
                    ----------------------------------------
                    (Address of principal executive offices)

                                 (304) 652-3671
              ----------------------------------------------------
              (Registrant's telephone number, including area code)


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 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        No   X
                                                               ----     -----

State the number of shares outstanding of each of the issuer's classes of common
equity as of the latest practicable date:

     Class:  Common Stock, par value $.10 per share
     Outstanding at July 31, 1997: 661,428 shares






<PAGE>



                          SISTERSVILLE BANCORP, INC.

                                    INDEX


                                                                      Page
                                                                     Number
                                                                    --------

PART I. FINANCIAL INFORMATION

   Item 1  Financial Statements

           Consolidated Balance Sheet (Unaudited) as of
             June 30, 1997 and March 31, 1997                           3

           Consolidated Statement of Income (Unaudited)
             for the Three Months ended June 30, 1997 and 1996          4

           Consolidated Statement of Cash Flows (Unaudited)
             for the Three Months ended June 30, 1997 and 1996          5

           Notes to Unaudited Consolidated Financial Statements         6

   Item 2  Management's Discussion and Analysis of
            Financial Condition and Results of Operations               7

PART II.  OTHER INFORMATION

   Item 1  Legal Proceedings                                           10

   Item 2  Changes in Securities                                       10

   Item 3  Default Upon Senior Securities                              10

   Item 4  Submissions of Matters to a Vote of Security Holders        10

   Item 5  Other Information                                           10

   Item 6  Exhibits and Reports on Form 8-K                            10

SIGNATURES                                                             11



<PAGE>

                           SISTERSVILLE BANCORP, INC.
                     CONSOLIDATED BALANCE SHEET (UNAUDITED)

<TABLE>
<CAPTION>


                                                                June 30,       March 31,
                                                                  1997           1997
                                                              ------------   ------------
ASSETS
Cash and Cash Equivalents:
<S>                                                           <C>            <C>         
  Cash and amounts due from banks                             $     83,022   $     81,065
  Interest-bearing deposits with other institutions              6,509,400      1,713,394
                                                              ------------   ------------
     Total cash and cash equivalents                             6,592,422      1,794,459

Investment Securities:
  Securities held to maturity (fair value of $317,000
     and $335,053)                                                 310,993        328,053
  Securities available for sale                                  2,933,988      2,319,633
                                                              ------------   ------------
     Total investment securities                                 3,244,981      2,647,686

Loans receivable, (net of allowance for loan losses
  of $166,100 and $164,150)                                     22,272,183     21,724,869
Office properties and equipment, net                               358,277        363,538
Accrued interest receivable                                        153,978        144,071
Other assets                                                        12,934        142,127
                                                              ------------   ------------

     TOTAL ASSETS                                             $ 32,634,775   $ 26,816,750
                                                              ============   ============

LIABILITIES

Deposits                                                      $ 21,553,095   $ 21,699,725
Deferred income taxes                                              278,798        215,091
Accrued interest payable and other liabilities                     125,899         98,620
                                                              ------------   ------------

     TOTAL LIABILITIES                                          21,957,792     22,013,436
                                                              ------------   ------------

STOCKHOLDERS' EQUITY
Common Stock, $.10 par value;
   661,428 shares authorized and outstanding                        66,143              -
Additional paid - in capital                                     6,127,984              -
Retained Earnings - substantially restricted                     4,494,125      4,410,275
Net unrealized gain on securities available for sale               517,871        393,039
Unearned Employee Stock Ownership Plan shares (ESOP)              (529,140)             -
                                                              ------------   ------------

     TOTAL STOCKHOLDERS' EQUITY                                 10,676,983      4,803,314
                                                              ------------   ------------

     TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY               $ 32,634,775   $ 26,816,750
                                                              ============   ============
</TABLE>

See accompanying notes to the unaudited consolidated financial statements.


                                        3

<PAGE>

                           SISTERSVILLE BANCORP, INC.
                  CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)

<TABLE>
<CAPTION>
                                                              Three Months Ended June 30,
                                                                  1997           1996
                                                              ------------   ------------

INTEREST AND DIVIDEND INCOME
<S>                                                           <C>            <C>         
  Taxable interest on loans                                   $    475,898   $    444,194
  Taxable interest on investments                                   68,931         62,530
  Dividends on Federal Home Loan Bank Stock                          3,231          2,901
  Dividends on Federal Home Loan Mortgage Corporation Stock          2,270          1,987
                                                              ------------   ------------
     Total interest and dividend income                            550,330        511,612
                                                              ------------   ------------

INTEREST EXPENSE
  Deposits                                                         261,114        241,570
  Advances from Federal Home Loan Bank                                   0              0
                                                              ------------   ------------
     Total interest expense                                        261,114        241,570
                                                              ------------   ------------

NET INTEREST INCOME                                                289,216        270,042

Provision for loan losses                                            1,950          1,200
                                                              ------------   ------------

NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES`               287,266        268,842
                                                              ------------   ------------

NONINTEREST INCOME
  Service charges                                                    5,874          5,342
  Other income                                                         480            523
                                                              ------------   ------------
     Total noninterest income                                        6,354          5,865
                                                              ------------   ------------

NONINTEREST EXPENSE
  Compensation and employee benefits                                90,841         99,430
  Occupancy                                                          9,155          9,527
  Furniture and equipment expense                                    8,470          8,963
  Deposit insurance premiums                                         3,434         11,724
  Supervisory examination, audit and legal fees                      6,550          5,569
  Advertising and public relations                                   6,495          6,643
  Service bureau expense                                            17,334         14,099
  Franchise, payroll and other taxes                                10,389         11,767
  Other expenses                                                    14,558         14,458
                                                              ------------   ------------
     Total noninterest expense                                     167,226        182,180
                                                              ------------   ------------

Income before income taxes                                         126,394         92,527

Income taxes                                                        42,544         33,169
                                                              ------------   ------------

NET INCOME                                                    $     83,850   $     59,358
                                                              ============   ============
</TABLE>


See accompanying notes to the unaudited consolidated financial statements.


                                        4

<PAGE>

                           SISTERSVILLE BANCORP, INC.
                CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)

<TABLE>
<CAPTION>
                                                              Three Months Ended June 30,
                                                                  1997           1996
                                                              -----------    ------------
OPERATING ACTIVITIES
<S>                                                           <C>            <C>        
  Net income                                                  $    83,850    $    59,358
  Adjustments to reconcile net income to net cash
     provided by operating activities:
  Depreciation, amortization and accretion, net                     9,318          8,638
  Provision for loan losses                                         1,950          1,200
  Deferred federal income taxes                                      (600)           (20)
  Decrease (increase) in accrued interest receivable
     and other assets                                             119,285         (6,217)
  Increase (decrease) in accrued interest payable
     and other liabilities                                         39,019          5,549
  Decrease in accrued federal income taxes                        (11,739)       (25,566)
                                                              -----------    -----------

  Net cash provided by operating activities                       241,083         42,942
                                                              ------------   ------------

INVESTING ACTIVITIES
  Purchase of term deposits                                             0       (500,000)
  Purchase of available for sale securities                      (425,000)             -
  Principal collected on mortgage - backed securities              17,060         12,649
  Net increase in loans                                          (549,264)      (528,034)
  Purchases of office properties and equipment                     (4,273)             -
                                                              -----------    -----------

  Net cash used for investing activities                         (961,477)    (1,015,385)
                                                              -----------    -----------

FINANCING ACTIVITIES
  Net increase (decrease)in deposits                             (146,630)        53,435
  Proceeds from sale of common stock                            5,664,987              -
                                                              ----------- --------------

  Net cash provided by financing activities                     5,518,357         53,435
                                                              -----------    -----------

  Increase (decrease) in cash and cash equivalents              4,797,963       (919,008)

CASH AND CASH EQUIVALENTS
  AT BEGINNING OF YEAR                                          1,794,459      2,424,571
                                                              -----------    -----------

CASH AND CASH EQUIVALENTS
  AT END OF YEAR                                              $ 6,592,422    $ 1,505,563
                                                              ===========    ===========

SUPPLEMENTAL  DISCLOSURES OF CASH FLOW  INFORMATION  
Cash paid during the period for:
     Interest on deposits and borrowings                      $   260,349    $   241,146
     Income taxes                                                  28,000         33,000

</TABLE>

See accompanying notes to the unaudited consolidated financial statements.

                                        5

<PAGE>

                           SISTERSVILLE BANCORP, INC.
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 - BASIS OF PRESENTATION

The  consolidated  financial  statements  of  Sistersville  Bancorp,  Inc.  (the
"Company"), include its wholly-owned subsidiary, First Federal Savings Bank (the
"Bank").  All  significant  intercompany  balances  and  transactions  have been
eliminated.

The accompanying  unaudited consolidated financial statements have been prepared
in  accordance  with the  instructions  to Form  10-QSB and,  therefore,  do not
necessarily  include all information that would be included in audited financial
statements. The information furnished reflects all adjustments which are, in the
opinion  of  management,  necessary  for a  fair  statement  of the  results  of
operations.  All such adjustments are of a normal recurring nature.  The results
of  operations  for the interim  periods are not  necessarily  indicative of the
results to be expected for the fiscal year ended March 31, 1998.

These statements should be read in conjunction with the consolidated  statements
as of and for the year  ended  March  31,  1997,  and  related  notes  which are
included on Form 10-KSB (file no. 0-22535).

NOTE 2 - CONVERSION TO STOCK FORM OF OWNERSHIP AND FORMATION OF HOLDING
COMPANY

On December 5, 1996,  the Board of Directors of First  Federal  Savings and Loan
Association of Sistersville  (the  "Association")  approved a plan of conversion
(the "Plan") whereby the  Association was to convert from a federally  chartered
mutual  savings  and  loan to a  federally  chartered  stock  savings  bank  and
simultaneously   reorganized   into  a  holding  company  form  of  organization
(collectively,  the "Conversion").  After approval by the regulatory authorities
and the Association's members, the Conversion was completed on June 25, 1997. As
a result of this  transaction,  the  Company  was formed  and the Bank  became a
wholly-owned subsidiary of the Company.

In connection  with the Conversion on June 25, 1997,  the Company  completed the
sale of 661,428 shares of stock at $10.00 per share. From the proceeds,  $66,143
was  allocated  to  common  stock  based on a par  value of $.10 per  share  and
$6,127,984,  which is net of  conversion  costs of  $420,153,  was  allocated to
additional paid in capital.

NOTE 3 - PENDING ACCOUNTING STANDARDS

On March 3, 1997, the Financial  Accounting  Standards Board issued Statement of
Financial  Accounting  Standard No. 128,  "Earnings  Per Share." This  statement
re-defines the standards for computing earnings per share (EPS) previously found
in Accounting Principles Board Opinion No. 15, Earnings Per Share. Statement No.
128 establishes new standards for computing and presenting EPS and requires dual
presentation  of "basic" and "diluted"  EPS on the face of the income  statement
for all entities with complex capital structures. Under Statement No. 128, basic
EPS is to be computed based upon income available to common shareholders and the
weighted average number of common shares outstanding for the period. Diluted EPS
is to reflect the  potential  dilution  that could occur if  securities or other
contracts to issue common stock were exercised or converted into common stock or
resulted in the issuance of common stock that then shared in the earnings of the
Company. Statement No. 128 also requires the restatement of all prior-period EPS
data  presented.  The company will adopt Statement No. 128 on December 31, 1997,
and based on current  estimates,  does not believe  the effect on adoption  will
have a  significant  impact on the  Company's  financial  position or results of
operations.

NOTE 4 - EARNINGS PER SHARE

The Company has not presented  earnings per share for the period from  inception
on June  25,  1997,  to June  30,  1997,  because  it was  determined  to be not
meaningful.

                                        6

<PAGE>



                      MANAGEMENT'S DISCUSSION AND ANALYSIS

Comparison of Financial Condition at June 30, 1997, and March 31, 1997

On December 5, 1996, the Board of Directors of the Association approved the Plan
and  the  Conversion.  After  approval  by the  regulatory  authorities  and the
Association's  members,  the Conversion was completed on June 25, 1997, and as a
result,  the holding  company was formed (the  "Company")  and the Bank became a
wholly-owned  subsidiary of the Company.  In connection  with the  Conversion on
June 25, 1997, the Company completed the sale of 661,428 shares (the "Offering")
at $10 per share and  received  net proceeds of  approximately  $5,665,000.  The
Company transferred approximately $3,097,000 of the net proceeds to the Bank for
the purchase of all of the capital stock of the Bank. In addition,  $529,140 was
loaned to the Bank's  Employee Stock Ownership Plan ("ESOP") for the purchase of
shares in the Offering.

Total assets  increased by  approximately  $5,818,000 to $32,635,000 at June 30,
1997,  from  $26,817,000  at March 31, 1997. The increase in assets was directly
attributable  to the  Offering.  Total cash and cash  equivalents  increased  by
$4,798,000 to $6,592,000  at June 30, 1997,  from  $1,794,000 at March 31, 1997.
This increase represented the inflow of cash associated with subscription orders
received for the purchase of Common Stock in the Offering.  Net loans receivable
increased   approximately  $547,000  to  $22,272,000  at  June  30,  1997,  from
$21,725,000  at March 31, 1997. The net increase was primarily  attributable  to
the  increase  in one to four  family  mortgages  of  $515,000.  Such  increases
primarily  reflected  the  economic  health of the  Bank's  market  area and the
competitive  pricing of the Bank's loan product.  The funding of the loan growth
was mainly provided by existing cash reserves.  Investment  securities available
for sale increased  $614,000 to $2,934,000 at June 30, 1997,  from $2,320,000 at
March 31,  1997.  The  increase  was  attributable  to the  purchase  of a U. S.
Government Agency obligation for $425,000 and an increase in the unrealized gain
on securities available for sale of $189,000.  Deposits decreased  approximately
$147,000 to  $21,553,000  at June 30,  1997,  from  $21,700,000.  This  decrease
primarily  represents  funds withdrawn by depositors which were used to purchase
stock in the Offering.

Comparison of the Results of Operations for the Three Months Ended June 30, 1997
and 1996

Net income  increased  by  $24,500  or 41.0% from net income of $59,400  for the
three months ended June 30, 1996,  to net income of $83,900 for the three months
ended June 30, 1997.

Interest income increased $39,000,  or 7.6%, for the three months ended June 30,
1997 compared to the three months ended June 30, 1996.  The increase in interest
income  is  primarily  attributed  to an  increase  in the  average  balance  of
interest-earning   assets.  The  average  balance  in  interest-earning   assets
increased by $2,261,000,  or 8.8%,  while the average yield on  interest-earning
assets declined from 7.98% for the three months ended June 30, 1996 to 7.88% for
the three months ended June 30, 1997.

Interest expense increased $20,000 from $241,000 for the three months ended June
30, 1996 to $261,000 for the three  months ended June 30, 1997.  The increase in
interest  expense was  attributable  to an  increase  in the average  balance of
interest-bearing  liabilities to $22.7 million from $21.0  million.  The cost of
funds remained relatively unchanged from the same period a year ago.

Net interest income increased $19,000 or 7.1% from $270,000 for the three months
ended June 30, 1997 to $289,000 for the three  months  ended June 30, 1996.  The
increase is primarily  attributable to an increase in average  interest  earning
assets  from $25.7  million  for the three  months  ended June 30, 1996 to $27.9
million  for the three  months  ended June 30,  1997.  Net  interest  income was
partially  offset by a declining  interest  rate spread from 3.38% for the three
months ended June 30, 1996 to 3.28% for the three months ended June 30, 1997.

Management  regularly performs an analysis to identify the inherent risk of loss
in its loan portfolio.  This analysis  includes  evaluation of concentrations of
credit,  past  loss  experience,   current  economic   conditions,   amount  and
composition

                                        7

<PAGE>



of  the  loan  portfolio  (including  loans  being  specifically   monitored  by
management),  estimated fair value of underlying  collateral,  loan  commitments
outstanding,   delinquencies,   and  other  factors.  Based  on  this  analysis,
management  established  an allowance  for loan losses.  The  allowance for loan
losses is adjusted  periodically by a provision for loan losses which is charged
to  operations  based  on  management's  evaluation  of the  losses  that may be
incurred in the Bank's loan portfolio.  The provision for loan losses  increased
to $1,950 for the three months  ended June 30,  1997,  from $1,200 for the three
months ended June 30, 1996.

The Bank will  continue to monitor its allowance for loan losses and make future
additions to the  allowance  through the  provision  for loan losses as economic
conditions dictate. Although the Bank maintains its allowance for loan losses at
a level that it  considers  to be adequate to provide for the  inherent  risk of
loss in its loan  portfolio,  there can be no assurance  that future losses will
not exceed estimated amounts or that additional  provisions for loan losses will
not be required in future periods. In addition,  the Bank's  determination as to
the amount of its  allowance for loan losses is subject to review by its primary
federal  regulator,  the Office of Thrift  Supervision  ("OTS"),  as part of its
examination  process,  which may result in the  establishment  of an  additional
allowance  based upon the judgment of the OTS after a review of the  information
available at the time of the OTS examination.

Noninterest  income  increased  by less than  $1,000  from  $5,900 for the three
months ended June 30, 1996,  to $6,400 for the three months ended June 30, 1997.
Noninterest  income  is  comprised  primarily  of  service  charges  on  deposit
accounts.

Noninterest  expense  decreased  by $15,000  from  $182,000 for the three months
ended June 30,  1996,  to $167,000  for the three  months  ended June 30,  1997.
Noninterest expense decreased primarily as a result of a lower deposit insurance
premium which decreased as a result of federal  legislation enacted in September
1996 from $.23 per $100 of deposit  premiums for the three months ended June 30,
1996,  to $.065 per $100 of deposits  for the three  months ended June 30, 1997.
Deposit  insurance  premiums  decreased $8,300 from $11,700 for the three months
ended  June 30,  1996,  to $3,400  for the three  months  ended  June 30,  1997.
Compensation and employee benefits  decreased $8,600 due to the retirement of an
employee in February, 1997, with no replacement hired as of June 30, 1997.

Income tax expense  increased  from  $33,000 for the three months ended June 30,
1996,  to $43,000 for the three months  ended June 30,  1997,  as a result of an
increase in pre-tax income.

Liquidity and Capital Resources

The Bank's primary sources of funds are deposits, amortization and prepayment of
loans, maturities of investment securities,  and funds provided from operations.
While  scheduled loan repayments are a relatively  predictable  source of funds,
deposit flows and loan  prepayments are greatly  influenced by general  interest
rates,  economic  conditions,  and  competition.  In addition,  the Bank invests
excess  funds in  overnight  deposits  which  provide  liquidity to meet lending
requirements.

The Bank has other sources of liquidity if a need for  additional  funds arises.
Additional  sources of funds include a line of credit with the Federal Home Loan
Bank ("FHLB") of Pittsburgh  amounting to $1.9 million. As of June 30, 1997, the
Bank had no outstanding advances from the FHLB.

As of June 30,  1997,  the Bank  had  $1,105,000  in  outstanding  mortgage  and
construction loan commitments.  Management believes that it has adequate sources
to meet the actual funding requirements.

Management monitors the Bank's tangible,  core, and risk-based capital ratios in
order to assess  compliance  with OTS  regulations.  At June 30, 1997,  the Bank
exceeded the minimum capital ratios requirements imposed by the OTS.


                                        8

<PAGE>



At June 30, 1997, the Bank's capital ratios are as follows:

                                           Requirement   Actual
                                           -----------   ------

      Tangible capital                        1.50%      23.64%
      Core capital                            3.00%      23.64%
      Risk-based capital                      8.00%      54.84%

Risk Elements

The table below presents information  concerning  nonperforming assets including
nonaccrual loans, renegotiated loans, loans 90 days or more past due, other real
estate loans,  and repossessed  assets. A loan is classified as nonaccrual when,
in the opinion of management,  there are serious doubts about  collectibility of
interest  and  principal.  At the time the accrual of interest is  discontinued,
future income is recognized only when cash is received.  Renegotiated  loans are
those  loans  which  terms  have been  renegotiated  to provide a  reduction  or
deferral  of  principal  or  interest  as a result of the  deterioration  of the
borrower.

<TABLE>
<CAPTION>
                                                                June 30,      March  31,
                                                                  1997           1997
                                                              ------------   ------------
                                                                (dollars in thousands)

<S>                                                           <C>            <C>         
Loans on nonaccrual basis                                     $         10   $         10
Loans past due 90 days or more                                           -             70
Renegotiated loans                                                       -              -
                                                              ------------   ------------

Total nonperforming loans                                               10             80
                                                              ------------   ------------

Other real estate                                                        -              -
Repossessed assets                                                       -              -
                                                              ------------   ------------

Total nonperforming assets                                    $         10   $         80
                                                              ============   ============

Nonperforming loans as a percent of total loans                       0.00%          0.36%
                                                              ============   ============

Nonperforming assets as a percent of total assets                     0.00%          0.30%
                                                              ============   ============

Allowance for loan losses to nonperforming loans                  1,661.00%        205.19%
                                                              ============   ============
</TABLE>

Management monitors impaired loans on a continual basis. As of June 30, 1997 the
company had no impaired loans.

During the three  months  ended June 30,  1997,  loans  increased  $547,000  and
nonperforming  loans  decreased  $70,000  while the  allowance  for loan  losses
increased  $2,000 for the same period.  The  percentage  of  allowance  for loan
losses to loans outstanding remained .7% during this time period.  Nonperforming
loans are primarily  made up of one to four family  residential  mortgages.  The
collateral  requirements on such loans reduce the risk of potential losses to an
acceptable level in management's opinion.



                                        9

<PAGE>



                           PART II. OTHER INFORMATION

Item 1. Legal proceedings

     The registrant was not engaged in any material pending legal proceedings as
of the date of this  Report.  From  time to  time,  the Bank is a party to legal
proceedings  within the  normal  course of  business  wherein  it  enforces  its
security interest in loans made by it, and other matters of a like kind.

Item 2. Changes in securities

     NONE

Item 3. Defaults upon senior securities

     NONE

Item 4. Submission of matters to a vote of security holders

     NONE

Item 5. Other information

     NONE

Item 6. Exhibits and reports on Form 8-K

     NONE



                                       10

<PAGE>



                                   SIGNATURES

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  the  report  to be  signed  on its  behalf  by the
undersigned, thereunto duly authorized.


                                       SISTERSVILLE BANCORP, INC.


Date: August 1, 1997                   By:/s/ Stanley M. Kiser
                                          -------------------------------
                                          Stanley M. Kiser
                                          President and Chief Executive
                                            Officer
                                          (Duly Authorized Officer)




Date: August 1, 1997                   By:/s/ Stanley M. Kiser
                                          -------------------------------
                                          Stanley M. Kiser
                                          President and Chief Executive
                                            Officer
                                          (Principal Executive and Financial 
                                            Officer)




                                       11