<PAGE>



                                  UNITED STATES
                       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, 2003

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

For the transition period from __________ to ____________.

Commission File Number:  000-23927
                         ---------

                        HOME LOAN FINANCIAL CORPORATION
                        -------------------------------
       (Exact name of small business issuer as specified in its charter)

               Ohio                                        31-1578552
               ----                                        ----------
(State or other jurisdiction of                           (IRS Employer
  incorporation or organization)                        Identification No.)

                     401 Main Street, Coshocton, Ohio 43812
                     --------------------------------------
                    (Address of principal executive offices)

                                 (740) 622-0444
                                 --------------
                           (Issuer's telephone number)

As of May 14, 2003 the latest practical date, 1,651,945 of the issuer's common
shares, no par value, were issued and outstanding.

Transitional Small Business Disclosure Format (check one):

Yes            No     X
    -----          ------




<PAGE>


                         HOME LOAN FINANCIAL CORPORATION

                                      INDEX

<TABLE>
<CAPTION>
                                                                                                           Page


<S>                                                                                                        <C>
PART I -FINANCIAL INFORMATION

         Item 1.   Condensed Financial Statements (Unaudited)

              Consolidated Balance Sheets.............................................................      3

              Consolidated Statements of Income and Comprehensive Income..............................      4

              Consolidated Statements of Changes in Shareholders' Equity..............................      5

              Consolidated Statements of Cash Flows...................................................      7

              Notes to Consolidated Financial Statements..............................................      8

         Item 2.   Management's Discussion and Analysis...............................................     17

         Item 3.   Controls and Procedures.............................................................    24


Part II - Other Information

         Item 1.   Legal Proceedings..................................................................     25

         Item 2.   Changes in Securities..............................................................     25

         Item 3.   Defaults Upon Senior Securities....................................................     25

         Item 4.   Submission of Matters to a Vote of Security Holders................................     25

         Item 5.   Other Information..................................................................     25

         Item 6.   Exhibits and Reports on Form 8-K...................................................     25

SIGNATURES ...........................................................................................     26

CERTIFICATIONS........................................................................................     27
</TABLE>



                                                                              2.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------

                                                                    (Unaudited)
                                                                     March 31,             June 30,
                                                                       2003                  2002
                                                                       ----                  ----
<S>                                                               <C>                   <C>
ASSETS
Cash and due from financial institutions                          $   3,086,965         $   2,716,138
Interest-bearing deposits in other financial institutions               434,626               215,647
                                                                  -------------         -------------
     Total cash and cash equivalents                                  3,521,591             2,931,785
Securities available for sale                                         7,291,383             4,413,516
Mortgage-backed securities available for sale                        11,264,307             9,738,990
Federal Home Loan Bank stock                                          2,141,600             1,927,100
Loans, net                                                          120,842,849           111,017,080
Premises and equipment, net                                           1,179,500             1,278,592
Accrued interest receivable                                             735,928               651,707
Other assets                                                            434,853               322,366
                                                                  -------------         -------------

         Total assets                                             $ 147,412,011         $ 132,281,136
                                                                  =============         =============


LIABILITIES
Deposits                                                          $  84,341,488         $  79,773,087
Federal Home Loan Bank advances                                      40,802,136            28,802,335
Due to broker on security purchases                                          --             2,392,006
Accrued interest payable                                                638,170               590,581
Accrued expenses and other liabilities                                  536,547               578,626
                                                                  -------------         -------------
     Total liabilities                                              126,318,341           112,136,635

SHAREHOLDERS' EQUITY
Preferred stock, no par value, 500,000 shares authorized,
  none outstanding                                                           --                    --
Common stock, no par value, 9,500,000 shares authorized,
  2,248,250 shares issued                                                    --                    --
Additional paid-in capital                                           14,133,466            14,100,870
Retained earnings                                                    14,311,806            13,831,012
Unearned employee stock ownership plan shares                        (1,143,914)           (1,354,006)
Unearned recognition and retention plan shares                         (300,832)             (434,692)
Treasury stock, at cost - 605,505 shares at March 31, 2003
  and 599,188 shares at June 30, 2002                                (6,223,600)           (6,186,296)
Accumulated other comprehensive income                                  316,744               187,613
                                                                  -------------         -------------
     Total shareholders' equity                                      21,093,670            20,144,501
                                                                  -------------         -------------

         Total liabilities and shareholders' equity               $ 147,412,011         $ 132,281,136
                                                                  =============         =============

------------------------------------------------------------------------------------------------------
</TABLE>

          See accompanying notes to consolidated financial statements.



                                                                              3.
<PAGE>

                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
                        CONSOLIDATED STATEMENTS OF INCOME
                            AND COMPREHENSIVE INCOME
                                   (Unaudited)

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------

                                                          Three Months Ended              Nine Months Ended
                                                               March 31,                      March 31,
                                                               ---------                      ---------
                                                          2003           2002           2003            2002
                                                          ----           ----           ----            ----
<S>                                                  <C>             <C>            <C>            <C>
Interest income
     Loans, including fees                           $  2,163,107    $  2,129,629   $  6,645,169   $  6,473,135
     Securities                                           170,972         195,100        564,040        643,687
     Dividends on FHLB stock and other                     20,751          24,582         68,346         80,233
                                                     ------------    ------------   ------------   ------------
         Total interest income                          2,354,830       2,349,311      7,277,555      7,197,055

Interest expense
     Deposits                                             506,240         608,250      1,632,174      2,052,276
     FHLB advances                                        452,861         391,452      1,374,040      1,213,985
                                                     ------------    ------------   ------------   ------------
         Total interest expense                           959,101         999,702      3,006,214      3,266,261
                                                     ------------    ------------   ------------   ------------

Net interest income                                     1,395,729       1,349,609      4,271,341      3,930,794
Provision for loan losses                                  55,000          30,000        150,000         95,000
                                                     ------------    ------------   ------------   ------------

Net interest income after provision for
     loan losses                                        1,340,729       1,319,609      4,121,341      3,835,794

Noninterest income
     Service charges and other fees                        73,056          64,407        219,784        223,081
     Net gains on sales of loans                           58,508          11,618         82,437         29,216
     Earnings from Coshocton County
       Title Agency                                        45,074              --        144,960             --
     Other                                                 18,023          21,227         79,709         84,431
                                                     ------------    ------------   ------------   ------------
         Total noninterest income                         194,661          97,252        526,890        336,728

Noninterest expense
     Salaries and employee benefits                       555,991         497,421      1,608,082      1,447,338
     Occupancy and equipment                               84,881          66,616        241,039        190,407
     State franchise taxes                                 43,450          36,550        130,450        108,750
     Computer processing                                   51,317          54,080        149,186        126,459
     Legal, audit and supervisory exam fees                45,595          42,634        141,464        138,872
     Director fees                                         21,510          22,060         65,630         64,900
     Other                                                 94,998         113,683        302,326        369,927
                                                     ------------    ------------   ------------   ------------
         Total noninterest expense                        897,742         833,044      2,638,177      2,446,653
                                                     ------------    ------------   ------------   ------------

Income before income taxes                                637,648         583,817      2,010,054      1,725,869
Income tax expense                                        215,100         206,300        677,300        598,700
                                                     ------------    ------------   ------------   ------------

Net income                                                422,548         377,517      1,332,754      1,127,169

Other comprehensive income (loss), net of tax             (69,886)        (89,457)       129,131         10,850
                                                     ------------    ------------   ------------   ------------

Comprehensive income                                 $    352,662    $    288,060   $  1,461,885   $  1,138,019
                                                     ============    ============   ============   ============

Basic earnings per common share                      $       0.28    $      0.25    $       0.90   $       0.76
                                                     ============    ===========    ============   ============
Diluted earnings per common share                    $       0.27    $      0.25    $       0.87   $       0.74
                                                     ============    ===========    ============   ============

---------------------------------------------------------------------------------------------------------------
</TABLE>

          See accompanying notes to consolidated financial statements.



                                                                              4.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
           CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
                   Nine Months Ended March 31, 2003 and 2002
                                   (Unaudited)


<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                             Accumulated
                                                                         Unearned    Unearned                   Other
                                              Paid-in     Retained         ESOP        RRP        Treasury  Comprehensive
                                              Capital     Earnings        Shares      Shares       Shares       Income     Total
                                              -------     --------        ------      ------       ------       ------     -----

<S>                                       <C>           <C>            <C>           <C>         <C>           <C>      <C>
Balance at July 1, 2001                   $ 14,083,151  $ 13,314,599   $(1,619,532)  $(616,545)  $(5,841,263)  $11,905  $19,332,315

Net income for the period                           --     1,127,169            --          --            --        --    1,127,169

Cash dividend - $.35 per share                      --      (534,220)           --          --            --        --     (534,220)

Commitment to release 18,810
  ESOP shares                                       --        (1,323)      198,828          --            --        --      197,505

Compensation expense with respect to
  recognition and retention plan                    --        (2,772)           --     142,551            --        --      139,779

Purchase of 62,971 treasury shares                  --            --            --          --      (680,215)       --     (680,215)

Exercise of 37,940 stock options                    --      (234,693)           --          --       526,452        --      291,759

Change in fair value of securities
  available for sale, net of tax effects            --            --            --          --            --    10,850       10,850
                                          ------------  ------------   -----------   ---------   -----------   -------  -----------

Balance at March 31, 2002                 $ 14,083,151  $ 13,668,760   $(1,420,704)  $(473,994)  $(5,995,026)  $22,755  $19,884,942
                                          ============  ============   ============  ==========  ============  =======  ===========

-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>


          See accompanying notes to consolidated financial statements.



                                                                              5.
<PAGE>



                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
           CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
              (Continued) Nine Months Ended March 31, 2003 and 2002
                                   (Unaudited)



<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                                                                                           Accumulated
                                           Additional                  Unearned     Unearned                   Other
                                            Paid-In      Retained        ESOP          RRP       Treasury  Comprehensive
                                            Capital      Earnings       Shares       Shares       Shares      Income      Total
                                          -----------  -----------   -----------   ---------   -----------   --------  -----------

<S>                                       <C>          <C>           <C>           <C>         <C>           <C>       <C>
Balance at July 1, 2002                   $14,100,870  $13,831,012   $(1,354,006)  $(434,692)  $(6,186,296)  $187,613  $20,144,501

Net income for the period                          --    1,332,754            --          --            --         --    1,332,754

Cash dividend - $.445 per share                    --     (674,686)           --          --            --         --     (674,686)

Commitment to release 19,875 ESOP
  shares                                           --       50,908       210,092          --            --         --      261,000

Compensation expense with respect to
  recognition and retention plan               28,014       (2,769)           --     133,860            --         --      159,105

Purchase of 39,697 treasury shares                 --           --            --          --      (520,659)        --     (520,659)
                                                                                                                                 0

Exercise of 33,380 stocks options               4,582     (225,413)           --          --       483,355         --      262,524

Change in fair value of securities
  available for sale, net of tax effects           --           --            --          --            --    129,131      129,131
                                          -----------  -----------   -----------   ---------   -----------   --------  -----------

Balance at March 31, 2003                 $14,133,466  $14,311,806   $(1,143,914)  $(300,832)  $(6,223,600)  $316,744  $21,093,670
                                          ===========  ===========   ===========   =========   ===========   ========  ===========

----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

          See accompanying notes to consolidated financial statements.


                                                                              6.
<PAGE>

                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------
                                                                           Nine Months Ended
                                                                               March 31,
                                                                          2003           2002
                                                                          ----           ----
<S>                                                                  <C>            <C>
Cash flows from operating activities
     Net income                                                      $  1,332,754   $  1,127,169
     Adjustments to reconcile net income to net cash
       from operating activities:
         Depreciation                                                     120,600         96,000
         Securities amortization and accretion                              7,412         (1,938)
         Provision for loan losses                                        150,000         95,000
         FHLB stock dividends                                             (67,800)       (78,800)
         Loss on disposal of premises and equipment                        16,523             --
         Gain on sale of other real estate owned                           (5,303)            --
         Compensation expense on ESOP shares                              261,000        197,505
         Compensation expense on RRP shares                               131,091        139,779
         Net change in accrued interest receivable and other assets      (176,225)      (238,689)
         Net change in accrued expenses and other liabilities             (61,012)       240,172
         Net change in deferred loan fees                                 (13,763)         1,572
                                                                     ------------   ------------
              Net cash from operating activities                        1,695,277      1,577,770

Cash flows from investing activities
     Purchases of securities available for sale                       (10,237,989)            --
     Proceeds from maturities of securities available for sale                 --        500,000
     Proceeds from maturities and principal paydowns of
         mortgage-backed securities available for sale                  3,631,040      2,186,197
     Net change in loans                                              (10,023,990)    (6,609,902)
     Purchase of FHLB Stock                                              (146,700)            --
     Premises and equipment expenditures                                  (72,218)      (320,091)
     Proceeds from disposition of premises and equipment                   34,187             --
     Proceeds from sale of other real estate owned                         79,400             --
                                                                     ------------   ------------
         Net cash from investing activities                           (16,736,270)    (4,243,796)

Cash flows from financing activities
     Net change in deposits                                             4,568,401      4,828,102
     Net change in short-term FHLB advances                             4,900,000     (3,050,000)
     Proceeds from long-term FHLB advances                             11,500,000      4,000,000
     Repayments of long-term FHLB advances                             (4,400,199)    (2,019,558)
     Cash dividends paid                                                 (674,686)      (534,220)
     Purchase of treasury stock                                          (520,659)      (680,215)
     Proceeds from exercise of stock options                              257,942        291,759
                                                                     ------------   ------------
         Net cash from financing activities                            15,630,799      2,835,868
                                                                     ------------   ------------

Net change in cash and cash equivalents                                   589,806        169,842
Cash and cash equivalents at beginning of period                        2,931,785      2,598,068
                                                                     ------------   ------------

Cash and cash equivalents at end of period                           $  3,521,591   $  2,767,910
                                                                     ============   ============

Supplemental disclosures of cash flow information
     Interest                                                        $  2,958,625   $  3,316,240
     Income taxes                                                         649,232        295,978
Supplemental noncash disclosure
     Transfer from loans to other real estate owned                        61,984        116,606

------------------------------------------------------------------------------------------------
</TABLE>

          See accompanying notes to consolidated financial statements.



                                                                              7.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

--------------------------------------------------------------------------------

          See accompanying notes to consolidated financial statements.


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

These interim consolidated financial statements are prepared without audit and
reflect all adjustments which, in the opinion of management, are necessary to
present fairly the financial position of Home Loan Financial Corporation
("HLFC") at March 31, 2003, and its results of operations and cash flows for the
periods presented. All such adjustments are normal and recurring in nature. The
accompanying consolidated financial statements have been prepared in accordance
with the instructions for Form 10-QSB and, therefore, do not purport to contain
all the necessary financial disclosures required by accounting principles
generally accepted in the United States of America that might otherwise be
necessary in the circumstances, and should be read in conjunction with the
consolidated financial statements and notes thereto of HLFC for the fiscal year
ended June 30, 2002. The accounting policies of HLFC described in the notes to
the consolidated financial statements contained in HLFC's June 30, 2002,
consolidated financial statements have been consistently followed in preparing
this Form 10-QSB.

The consolidated financial statements include the accounts of HLFC and its
wholly-owned subsidiaries, The Home Loan Savings Bank ("Bank"), a
state-chartered stock savings and loan association, and Home Loan Financial
Services, Inc., an Ohio corporation providing insurance and investment services.
HLFC also owns a 33% ownership interest in Coshocton County Title Agency, which
is accounted for under the equity method of accounting. These entities are
together referred to as the Corporation. All significant intercompany
transactions and balances have been eliminated.

The Bank provides financial services through its main and branch offices in
Coshocton, Ohio and a branch office in West Lafayette, Ohio. The Bank's primary
deposit products are checking, savings and term certificate accounts, and its
primary lending products are residential mortgage, nonresidential real estate,
commercial and consumer loans. Substantially all loans are secured by specific
items of collateral including business assets, consumer assets and real estate.
Commercial loans are expected to be repaid from cash flow from operations of
businesses. Real estate loans are secured by both residential and commercial
real estate. Substantially all revenues are derived from financial institution
products and services in Coshocton County and its contiguous areas. Management
considers the Corporation to operate in one segment, banking. Other financial
instruments which potentially represent concentrations of credit risk include
deposit accounts in other financial institutions.

To prepare financial statements in conformity with accounting principles
generally accepted in the United States of America, management makes estimates
and assumptions based on available information. These estimates and assumptions
affect the amounts reported in the financial statements and the disclosures
provided, and future results could differ. The allowance for loan losses and
fair values of financial instruments are particularly subject to change.

Income tax expense is the total of current year income tax due or refundable and
the change in deferred tax assets and liabilities. Deferred tax assets and
liabilities are the expected future tax consequences for the temporary
differences between the carrying amounts and tax bases of assets and
liabilities, computed using enacted tax rates. A valuation allowance, if needed,
reduces deferred tax assets to the amount expected to be realized. Income tax
expense is based on the effective rate expected to be applicable for the entire
year.

--------------------------------------------------------------------------------
                                   (Continued)




                                                                              8.
<PAGE>

                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

--------------------------------------------------------------------------------

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Basic earnings per common share is net income divided by the weighted average
number of common shares outstanding during the period. Employee Stock Ownership
Plan ("ESOP") shares are considered outstanding for this calculation unless
unearned. Recognition and Retention Plan ("RRP") shares are considered
outstanding as they become vested. Diluted earnings per common share include the
dilutive effect of RRP shares and the additional potential common shares
issuable under stock options.

Statement of Financial Accounting Standards ("SFAS") No. 148, "Accounting for
Stock Based Compensation - Transition and Disclosure," was issued in December
2002. SFAS No. 148 amends SFAS No. 123 to provide alternative methods of a
voluntary change to the fair value based method of accounting for stock-based
employee compensation. It also amends the disclosure requirements of SFAS No.
123 to require prominent disclosures in both annual and interim financial
statements about the method of accounting for stock-based employee compensation
and the offset of the method used on reported results. The provisions of this
statement are effective for annual financial statements for fiscal years ending
and interim periods beginning after December 15, 2002.

The Corporation reports employee compensation expense under stock option plans
using the intrinsic value method. No stock-based compensation cost is reflected
in net income, as all options granted had an exercise price equal to or greater
than the market price of the underlying common stock at the date of grant. The
following table illustrates the effect on net income and earnings per share if
expense were measured using the fair value recognition provisions of FASB
Statement No. 123, Accounting for Stock-Based Compensation.

<TABLE>
<CAPTION>
                                                            Three Months Ended               Nine Months Ended
                                                                 March 31,                       March 31,
                                                                 ---------                       ---------
                                                           2003            2002             2003           2002
                                                           ----            ----             ----           ----

<S>                                                   <C>              <C>             <C>             <C>
Net income as reported                                $   422,548      $   377,517     $  1,332,754    $  1,127,169
Deduct: Stock-based compensation expense
  determined under fair value based method                 41,216           41,882          123,649         124,835
                                                      -----------      -----------     ------------    ------------

Pro forma net income                                  $   381,332      $   335,635     $  1,209,105    $  1,002,334
                                                      ===========      ===========     ============    ============

Basic earnings per share as reported                  $      0.28      $     0.25      $       0.90    $       0.76
Pro forma basic earnings per share                           0.25            0.23              0.81            0.68

Diluted earnings per share as reported                $      0.27      $     0.25      $       0.87    $       0.74
Pro forma diluted earnings per share                         0.25            0.22              0.79            0.66
</TABLE>


--------------------------------------------------------------------------------
                                   (Ccntinued)


                                                                              9.
<PAGE>
                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

--------------------------------------------------------------------------------

NOTE 2 - SECURITIES

Securities at March 31, 2003 and June 30, 2002 were as follows.

<TABLE>
<CAPTION>
                                                   Estimated           Gross            Gross
                                                     Fair           Unrealized       Unrealized
                                                     Value             Gains           Losses
                                                     -----             -----           ------
<S>                                             <C>              <C>               <C>
March 31, 2003
Securities available for sale
     U.S. Government agencies                   $    2,038,210   $        37,064   $           --
     Obligations of state and
       political subdivisions                        5,253,173           165,040               --
                                                --------------   ---------------   --------------

                                                $    7,291,383   $       202,104   $           --
                                                ==============   ===============   ==============
Mortgage-backed securities
  available for sale
     U.S. Government agencies                   $   11,264,307   $       295,048   $      (17,237)
                                                ==============   ===============   ==============

June 30, 2002
Securities available for sale
     U.S. Government agencies                   $    2,022,390   $        20,582   $           --
     Obligations of state and
       political subdivisions                        2,391,126                --               --
                                                --------------   ---------------   --------------

                                                $    4,413,516   $        20,582   $           --
                                                ==============   ===============   ==============
Mortgage-backed securities
  available for sale
     U.S. Government agencies                   $    9,738,990   $       263,680   $           --
                                                ==============   ===============   ==============
</TABLE>


Contractual maturities of securities at March 31, 2003, were as follows. Actual
maturities may differ from contractual maturities because borrowers may have the
right to call or prepay obligations with or without call or prepayment
penalties. Securities not due at a single maturity, primarily mortgage-backed
securities, are shown separately.

                                                                 Estimated
                                                                   Fair
                                                                   Value

           Due in one year or less                           $    1,011,970
           Due after one year through five years                  1,026,240
           Due after five years through ten years                 2,490,180
           Due after ten years                                    2,762,993
           Mortgage-backed securities                            11,264,307
                                                             --------------

                                                             $   18,555,690
                                                             ==============

--------------------------------------------------------------------------------
                                   (Continued)


                                                                             10.
<PAGE>
                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

--------------------------------------------------------------------------------

NOTE 2 - SECURITIES (Continued)

No securities were sold during the three or nine months ended March 31, 2003 or
2002. At March 31, 2003 and June 30, 2002, securities with a carrying value of
$1,217,575 and $1,008,050 were pledged to secure public funds.


NOTE 3 - LOANS

Loans at March 31, 2003 and June 30, 2002 were as follows.

<TABLE>
<CAPTION>
                                                  March 31,            June 30,
                                                    2003                 2002
                                                    ----                 ----
<S>                                            <C>                   <C>
Residential real estate loans:
    1 - 4 family                               $  79,638,343         $  74,941,984
    Multi-family                                     305,709               346,933
    Home equity                                    4,001,941             4,005,457
Nonresidential real estate                        11,533,557            10,549,897
Real estate construction                           2,138,222             3,096,990
Land                                               2,049,120             1,357,999
                                               -------------         -------------
    Total real estate loans                       99,666,892            94,299,260
Commercial loans                                   6,584,105             4,005,222
Consumer and other loans:
    Home improvement                               4,205,539             4,320,019
    Automobile                                     4,578,487             5,127,570
    Deposit                                          178,012               312,097
    Credit card                                      506,722               543,006
    Other                                          6,283,910             4,574,437
                                               -------------         -------------
         Total consumer and other loans           15,752,670            14,877,129
                                               -------------         -------------
Total loans                                      122,003,667           113,181,611
Less:
    Allowance for loan losses                       (541,643)             (499,467)
    Loans in process                                (463,632)           (1,495,758)
    Net deferred loan fees and costs                (155,543)             (169,306)
                                               -------------         -------------

                                               $ 120,842,849         $ 111,017,080
                                               =============         =============
</TABLE>

--------------------------------------------------------------------------------
                                  (Continued)


                                                                             11.
<PAGE>
                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

--------------------------------------------------------------------------------

NOTE 3 - LOANS (Continued)


Activity in the allowance for loan losses was as follows.

<TABLE>
<CAPTION>
                                                    Three Months Ended                     Nine Months Ended
                                                         March 31,                             March 31,
                                                        ----------                             ---------
                                                 2003                2002                  2003            2002
                                                 ----                ----                  ----            ----

<S>                                          <C>                <C>                   <C>               <C>
     Balance at beginning of period          $   507,360        $   476,367           $   499,467       $   462,292
     Provision for losses                         55,000             30,000               150,000            95,000
     Charge-offs                                 (34,331)           (34,787)             (123,542)          (96,081)
     Recoveries                                   13,614              1,941                15,718            12,310
                                             -----------        -----------           -----------       -----------

     Balance at end of period                $   541,643        $   473,521           $   541,643       $   473,521
                                             ===========        ===========           ===========       ===========
</TABLE>

Nonperforming loans consisted of loans past due over 90 days still accruing
interest totaling approximately $110,000 and $1,311,000 at March 31, 2003 and
June 30, 2002, respectively. The Corporation had $342,000 of nonaccrual loans at
March 31, 2003 and no nonaccrual loans at June 30, 2002. Nonperforming loans
include smaller balance homogeneous loans, such as residential mortgage and
consumer loans, which are collectively evaluated for impairment.

As of March 31, 2003 and June 30, 2002 and for the three and nine months ended
March 31, 2003 and 2002, impaired loans were not material.


NOTE 4 - FHLB ADVANCES

At March 31, 2003, the Bank had a cash management line of credit enabling it to
borrow up to $10,000,000 from the Federal Home Loan Bank of Cincinnati ("FHLB").
The line of credit must be renewed on an annual basis. Borrowings outstanding on
this line of credit included in the table below totaled $4,900,000 at March 31,
2003. No borrowings were outstanding on this line of credit at June 30, 2002.
The Bank also had fixed-rate term advances, convertible fixed-rate advances and
select pay mortgage-matched advances at March 31, 2003. As a member of the FHLB
system and based upon the Bank's current FHLB stock ownership, the Bank has the
ability to obtain borrowings up to a total of $42,832,000, including the cash
management line of credit. Advances under the borrowing agreements are
collateralized by the Bank's FHLB stock and $51,002,670 of qualifying mortgage
loans. The interest rates on the convertible fixed-rate advances are fixed for a
specified number of years, then are convertible at the option of the FHLB. If
the convertible option is exercised, the advance may be prepaid without penalty.
The select pay mortgage-matched advances require monthly principal and interest
payments and annual additional principal payments.

--------------------------------------------------------------------------------
                                  (Continued)
                                                                             12.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

--------------------------------------------------------------------------------

NOTE 4 - FHLB ADVANCES (Continued)

At period-end, advances from the FHLB were as follows.

<TABLE>
<CAPTION>
                                                                      March 31,           June 30,
                                                                         2003               2002
                                                                     -----------        -----------
<S>                                                                  <C>             <C>
Cash management line of credit, 1.47% at
  March 31, 2003                                                     $ 4,900,000     $           --
Fixed-rate advance, 6.77%, due September 2002                                 --          2,000,000
Fixed-rate advance, 3.64%, due September 2002                                 --          2,000,000
Fixed-rate advance, 3.62%, due March 2007                              2,000,000                 --
Convertible, fixed-rate advance until September 2001,
  5.37%, due March 2004                                               10,000,000         10,000,000
Convertible, fixed-rate advance until June 2003, 5.66%,
  due June 2008                                                        1,000,000          1,000,000
Convertible, fixed-rate advance until September 2003, 5.18%,
  due September 2008                                                   2,000,000          2,000,000
Convertible, fixed-rate advance until March 2004, 5.66%,
  due March 2009                                                       4,000,000          4,000,000
Convertible, fixed-rate advance until September 2001,
  6.23%, due March 2010                                                1,000,000          1,000,000
Convertible, fixed-rate advance until September 2001,
  6.11%, due March 2010                                                4,000,000          4,000,000
Convertible, fixed-rate advance until July 2004,
  4.39%, due July 2012                                                 5,000,000                 --
Select payment mortgage matched advance 3.89%
  final maturity October 2012                                          1,448,437                 --
Select payment mortgage matched advances, 5% annual
  prepayment, interest rates range from 3.99% to 5.32%, final
  maturities range from January 2012 through
  January 2022                                                         2,240,406          1,070,714
Select payment mortgage matched advances, 10% annual
  prepayment, interest rates range from 3.32% to 5.50%,
  final maturities range from January 2012 through May 2022            2,909,918          1,408,745
Select payment mortgage matched advance, 15% annual
  prepayment, 4.72% final maturity May 2012                              303,375            322,876
                                                                     -----------        -----------

                                                                     $40,802,136        $28,802,335
                                                                     ===========        ===========
</TABLE>

At March 31, 2003, the scheduled maturities of advances from the FHLB were as
follows.

     Period ended: March 31, 2004                       $ 15,815,081
                             2005                            837,155
                             2006                            768,612
                             2007                          2,708,396
                             2008                            655,580
                             Thereafter                   20,017,312
                                                        ------------
                                                        $ 40,802,136
                                                        ============

--------------------------------------------------------------------------------
                                  (Continued)

                                                                             13.
<PAGE>

                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

--------------------------------------------------------------------------------

NOTE 5 - OFF-BALANCE SHEET ACTIVITIES

Loss contingencies, including claims and legal actions arising in the ordinary
course of business, are recorded as liabilities when the likelihood of loss is
probable and an amount or range of loss can be reasonably estimated. Management
does not believe there were any such matters that will have a material effect on
the financial statements as of March 31, 2003.

Some financial instruments, such as loan commitments, credit lines, letters of
credit and overdraft protection, are issued to meet customer financing needs.
These are agreements to provide credit or to support the credit of others, as
long as conditions established in the contract are met, and usually have
expiration dates. Commitments may expire without being used. Off-balance sheet
risk to credit loss exists up to the face amount of these instruments, although
material losses are not anticipated. The same credit policies are used to make
such commitments as are used for loans, including obtaining collateral at the
exercise of the commitment.

A summary of the notional or contractual amounts of financial instruments with
off-balance sheet risk at March 31, 2003 and June 30, 2002 follows.


<TABLE>
<CAPTION>
                                                                                  March 31,          June 30,
                                                                                    2003               2002
                                                                                    ----               ----

<S>                                                                          <C>                <C>
Lines of credit-variable rate                                                $     4,479,000    $    4,085,000
1-4 family residential real estate-variable rate                                     976,000           167,000
1-4 family residential real estate-fixed rate                                      1,026,000           844,000
Commercial real estate-variable rate                                               1,522,000           560,000
Credit card arrangements-fixed rate                                                1,481,000         1,387,000
</TABLE>

The interest rate on fixed-rate commitments ranged from 5.125% to 7.25% at March
31, 2003 and from 6.75% to 13.90% at June 30, 2002. The interest rates on
variable rate commitments ranged from 4.25% to 18.99% at March 31, 2003 and
5.25% to 18.99% at June 30, 2002.

--------------------------------------------------------------------------------
                                  (Continued)


                                                                             14.
<PAGE>

                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

--------------------------------------------------------------------------------

NOTE 6 - EARNINGS PER SHARE

The factors used in the earnings per share computation were as follows.

<TABLE>
<CAPTION>
                                                          Three Months Ended                Nine Months Ended
                                                               March 31,                        March 31,
                                                               ---------                        ---------
                                                          2003            2002             2003            2002
                                                          ----            ----             ----            ----
<S>                                                 <C>              <C>             <C>             <C>
Basic
     Net income                                     $     422,548    $     377,517   $   1,332,754   $    1,127,169
                                                    =============    =============   =============   ==============

     Weighted average common shares
       outstanding                                      1,638,283        1,664,728       1,633,257        1,670,272
     Less:  Average unallocated ESOP shares              (111,369)        (137,127)       (117,745)        (143,397)
     Less:  Average nonvested RRP shares                  (25,112)         (38,686)        (28,580)         (42,379)
                                                    -------------    -------------   -------------   --------------

     Average shares                                     1,501,802        1,488,915       1,486,932        1,484,496
                                                    =============    =============   =============   ==============

     Basic earnings per common share                $        0.28    $       0.25    $        0.90   $         0.76
                                                    =============    ============    =============   ==============

Diluted
     Net income                                     $     422,548    $     377,517   $   1,332,754   $    1,127,169
                                                    =============    =============   =============   ==============

     Weighted average common shares
       outstanding  for basic earnings per
       common share                                     1,501,802        1,488,915       1,486,932        1,484,496
     Add:  Dilutive effects of average
       nonvested RRP shares, net of tax benefits            1,412               --             741               --
     Add:  Dilutive effects of assumed
        exercises of stock options                         45,342           41,732          49,530           43,903
                                                    -------------    -------------   -------------   --------------
     Average shares and dilutive potential
       common shares                                    1,548,556        1,530,647       1,537,203        1,528,399
                                                    =============    =============   =============   ==============

     Diluted earnings per common share              $        0.27    $       0.25    $        0.87   $         0.74
                                                    =============    ============    =============   ==============
</TABLE>



Unearned RRP shares did not have a dilutive effect on earnings per share for the
three and nine months ended March 31, 2002, as the fair value of the RRP shares
on the date of grant was greater than the average market price for the period.


--------------------------------------------------------------------------------
                                  (Continued)


                                                                             15.
<PAGE>

                         HOME LOAN FINANCIAL CORPORATION
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

--------------------------------------------------------------------------------

NOTE 7 - OTHER COMPREHENSIVE INCOME (LOSS)

Other comprehensive income (loss) components and related taxes were as follows.

<TABLE>
<CAPTION>
                                                          Three Months Ended                Nine Months Ended
                                                               March 31,                        March 31,
                                                               ---------                        ---------
                                                          2003            2002             2003            2002
                                                          ----            ----             ----            ----
<S>                                                 <C>              <C>             <C>             <C>
Unrealized holding gains (losses) on
  available-for-sale securities                     $    (105,774)   $    (135,541)  $     195,653   $       16,439
Tax effect                                                 35,888           46,084         (66,522)          (5,589)
                                                    -------------    -------------   -------------   --------------

Other comprehensive income (loss)                   $     (69,886)   $     (89,457)  $     129,131   $       10,850
                                                    =============    =============   =============   ==============
</TABLE>

--------------------------------------------------------------------------------



                                                                             16.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                  ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS

--------------------------------------------------------------------------------

INTRODUCTION

In the following pages, management presents an analysis of the consolidated
financial condition of the Corporation as of March 31, 2003 compared to June 30,
2002, and the consolidated results of operations for the three and nine months
ended March 31, 2003 compared with the same periods in 2002. This discussion is
designed to provide a more comprehensive review of the operating results and
financial position than what could be obtained from an examination of the
consolidated financial statements alone. This analysis should be read in
conjunction with the interim consolidated financial statements and related
footnotes included herein.


FORWARD LOOKING STATEMENTS

When used in this report, the words or phrases "will likely result," "are
expected to," "will continue," "is anticipated," "estimate," "project,"
"believe" or similar expressions are intended to identify "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. The Corporation wishes to caution readers not to place undue reliance
on any such forward-looking statements, which speak only as of the date made,
and to advise readers that various factors, including regional and national
economic conditions, changes in levels of market interest rates, credit risks of
lending activities and competitive and regulatory factors, could affect the
Corporation's financial performance and could cause the Corporation's actual
results for future periods to differ materially from those anticipated or
projected.

The Corporation does not undertake, and specifically disclaims, any obligation
to publicly release any revisions that may be made to any forward-looking
statements to reflect occurrence of anticipated or unanticipated events or
circumstances after the date of such statements.


FINANCIAL CONDITION

Total assets at March 31, 2003 were $147.4 million compared to $132.3 million at
June 30, 2002, an increase of $15.1 million, or 11.4%. The increase in total
assets was primarily in loans, which increased $9.8 million.

Securities available for sale increased from $4.4 million at June 30, 2002 to
$7.3 million at March 31, 2003. To leverage excess capital, the Corporation
borrowed funds and invested in obligations of states and political subdivisions
and purchased an additional $2.7 million during the nine months ended March 31,
2003. Mortgage-backed securities, which totaled $9.7 million at June 30, 2002,
increased $1.6 million to $11.3 million.

Loan growth during the nine months ended March 31, 2003, which totaled $9.8
million, occurred primarily in real estate loans, and in particular, in one- to
four-family residential real estate loans and loans secured by land. The growth
was due to competitive pricing in the current low interest rate environment.
Beginning in the quarter ended June 30, 2002, management decided to stop selling
the one- to four-family residential real estate loans and portfolio them using
select-payment mortgage matched advances from the Federal Home Loan Bank
("FHLB"), which provide a similar repayment stream, as a funding source.
However, beginning in the quarter ended December 31, 2002, management decided to
sell one-to-four family residential real estate loans again due to the current
interest rate environment.

--------------------------------------------------------------------------------
                                  (Continued)


                                                                             17.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                  ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS

--------------------------------------------------------------------------------

Commercial loans increased $2.6 million due to efforts to attract business
customers. Consumer and other loans had a modest increase since June 30, 2002.

Total deposits increased $4.5 million from June 30, 2002 to March 31, 2003. NOW
and money market accounts increased by $1,796,000, savings accounts increased by
$156,000 and certificates of deposit increased by $2,860,000. These increases
were partially offset by a $266,000 decrease in noninterest bearing demand
accounts. The activity during the nine months ended March 31, 2003 reversed a
trend that had occurred throughout fiscal 2002 where customers were moving funds
out of certificates of deposit into transaction accounts. As a result of the
shift in accounts, the certificates of deposit portfolio as a percent of total
deposits increased from 49.9% at June 30, 2002 to 50.7% at March 31, 2003.
Almost all certificates of deposit mature in less than five years, with the
majority maturing in the next year.

FHLB advances totaled $40.8 million at March 31, 2003, compared to $28.8 million
at June 30, 2002, an increase of $12.0 million. The Corporation utilized the
additional advances to fund loan growth and purchase obligations of states and
political subdivisions that are classified as available for sale. At March 31,
2003, $4.9 million was outstanding on the Bank's $10.0 million cash-management
line of credit with the FHLB. No borrowings were outstanding under the line of
credit at June 30, 2002. During the nine months ended March 31, 2003, two $2.0
million, fixed-rate advances matured. The Corporation added a $2.0 million
fixed-rate advance, a $5.0 million fixed-rate convertible advance and select pay
mortgage-matched advances totaling $4.5 million.


COMPARISON OF RESULTS OF OPERATIONS FOR THE THREE MONTHS
  ENDED MARCH 31, 2003 AND MARCH 31, 2002

General economic conditions, the monetary and fiscal policies of federal
agencies and the regulatory policies of agencies that regulate financial
institutions affect the operating results of the Corporation. Interest rates on
competing investments and general market rates of interest influence the
Corporation's cost of funds. The demand for real estate loans and other types of
loans influence lending activities, which in turn is affected by the interest
rates at which such loans are made, general economic conditions and the
availability of funds for lending activities.

The Corporation's net income primarily depends on its net interest income, which
is the difference between the interest income earned on interest-earning assets,
such as loans and securities, and interest expense incurred on interest-bearing
liabilities, such as deposits and borrowings. The level of net interest income
is dependent on the interest rate environment and the volume and composition of
interest-earning assets and interest-bearing liabilities. Provisions for loan
losses, service charges, gains on the sale of assets, other income, noninterest
expense and income taxes also affect net income.

Net income was $422,548 for the three months ended March 31, 2003, compared to
$377,517 for the three months ended March 31, 2002. The increase in net income
for the three months ended March 31, 2003 was the result of an increase in net
interest income and a significant increase in noninterest income, partially
offset by an increase in noninterest expense and provision for loan losses.

Net interest income totaled $1,395,729 for the three months ended March 31,
2003, compared to $1,349,608 for the three months ended March 31, 2002,
representing an increase of $46,121, or 3.4%. The net interest margin decreased
from 4.39% for the three months ended March 31, 2002 to 4.12% for the three
months ended March 31, 2003. However, the increase in average earning assets
more than offset the decline in the net interest margin.

--------------------------------------------------------------------------------
                                  (Continued)


                                                                             18.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                  ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS

--------------------------------------------------------------------------------

Interest and fees on loans increased $33,478, or 1.6%, from $2,129,629 for the
three months ended March 31, 2002 to $2,163,107 for the three months ended March
31, 2003. The increase was due to a higher average balance of loans resulting
from strong loan demand, which was partially offset by a decline in yield on
loans.

Interest earned on securities decreased $24,128, or 12.4%, from $195,100 for the
three months ended March 31, 2002 to $170,972 for the three months ended March
31, 2003. The decrease was a result of a decline in the yield on securities.
Dividends on FHLB stock and other declined from the three-month period ended
March 31, 2002 due to a lower dividend rate paid on FHLB stock.

Interest expense on deposits decreased $102,010 from $608,250 for the three
months ended March 31, 2002, to $506,240 for the three months ended March 31,
2003. The decrease in interest expense was the result of a decline in the cost
of funds more than offsetting an increase in the average balance of deposits.
The decrease in the cost of funds was primarily due to general market
conditions.

Interest on FHLB advances increased $61,409, or 15.7%, from $391,452 for the
three months ended March 31, 2002, compared to $452,861 for the three months
ended March 31, 2003. The increase in interest expense was the result of an
increase in the average balance of FHLB advances partially offset by a decrease
in interest rates on advances. The additional borrowings were used to provide
funding for loan growth and to purchase obligations of state and political
subdivisions.

The Corporation maintains an allowance for loan losses in an amount that, in
management's judgment, is adequate to absorb probable losses in the loan
portfolio. While management utilizes its best judgment and information
available, the ultimate adequacy of the allowance is dependent on a variety of
factors, including the performance of the loan portfolio, the economy, changes
in real estate values and interest rates and the view of the regulatory
authorities toward loan classifications. The provision for loan losses is
determined by management as the amount to be added to the allowance for loan
losses after net charge-offs have been deducted to bring the allowance to a
level which is considered adequate to absorb probable losses in the loan
portfolio. The amount of the provision is based on management's monthly review
of the loan portfolio and consideration of such factors as historical loss
experience, general prevailing economic conditions, changes in the size and
composition of the loan portfolio and specific borrower considerations,
including the ability of the borrower to repay the loan and the estimated value
of the underlying collateral.

The provision for loan losses for the three months ended March 31, 2003 was
$55,000 compared to $30,000 for the three months ended March 31, 2002. The
allowance for loan losses totaled $542,000, or 0.45% of gross loans, at March
31, 2003, compared to $499,000, or 0.45% of gross loans, at June 30, 2002.
Nonperforming loans have decreased from $1.3 million at June 30, 2002 to
$452,000 primarily due to two large loans totaling approximately $738,000 being
brought current. The Corporation has not experienced significant charge-offs in
any of the periods presented. The Corporation's low charge-off history is the
product of a variety of factors, including the Corporation's underwriting
guidelines, which generally require a loan-to-value or projected completed value
ratio of 80% for purchase or construction of one- to four-family residential
properties and 75% for commercial real estate and land loans, established income
information and defined ratios of debt to income.

For the three months ended March 31, 2003, noninterest income totaled $194,661
compared to $97,252 for the three months ended March 31, 2002. The primary
reason for the increase is due to the Corporation's earnings from its 33%
ownership in Coshocton County Title Agency ("CCTA"). CCTA was formed in June
2002 by the Corporation and two other investors to provide title insurance on
properties. The

--------------------------------------------------------------------------------
                                  (Continued)


                                                                             19.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                  ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS

--------------------------------------------------------------------------------

Corporation's income from its ownership of CCTA during the three months ended
March 31, 2003 is the result of the high level of loan refinance activity in
this current low interest rate environment. The increase in the net gains on
sales of loans was also the result of the high level of refinance activity in
the current low interest rate environment.

Noninterest expense totaled $897,742 for the three months ended March 31, 2003,
compared to $833,044 for the same period in 2002. This increase was due
primarily to increases in salaries and employee benefits, occupancy and
equipment, state franchise taxes and computer processing. Salaries and employee
benefits expense increased $58,570, or 11.8% as the result of normal annual
merit increases, an increase in the cost of health insurance and additional
expense recognized for the Corporation's ESOP because of the increase in the
Corporation's average stock price compared to the same period in 2002. Occupancy
and equipment expense increased $18,265, or 27.4%, as a result of increases in
depreciation and maintenance contracts related to the Corporation's change of
data processing vendors in February 2002. The increase in computer processing
was also due to the Corporation's change in core data processors and the
additional features of the new system. State franchise taxes increased because
of the higher capital levels of the Bank. Other noninterest expense declined as
the prior three month period included conversion costs related to the change of
data processing vendors.

The volatility of income tax expense is primarily attributable to the change in
income before income taxes, the impact the Corporation's stock price has on the
stock-based employee benefit plans, and, for the current period, tax exempt
income on obligations of state and political subdivisions. The provision for
income taxes totaled $215,100 for the three months ended March 31, 2003,
compared to $206,300 for the three months ended March 31, 2002. The effective
tax rate was 33.7% for the three months ended March 31, 2003, compared to 35.3%
for the three months ended March 31, 2002.

COMPARISON OF RESULTS OF OPERATIONS FOR THE NINE MONTHS
  ENDED MARCH 31, 2003 AND MARCH 31, 2002

Net income was $1,332,754 for the nine months ended March 31, 2003, compared to
$1,127,169 for the nine months ended March 31, 2002. The $205,585 increase in
net income for the nine months ended March 31, 2003 was the result of an
increase in net interest income and a significant increase in noninterest
income, partially offset by an increase in noninterest expense and provision for
loan losses.

Net interest income totaled $4,271,341 for the nine months ended March 31, 2003,
compared to $3,930,794 for the nine months ended March 31, 2002, representing an
increase of $340,547, or 8.7%. The net interest margin decreased from 4.30% for
the nine months ended March 31, 2002 to 4.24% for the nine months ended March
31, 2003. However, the increase in average earning assets more than offset the
net interest margin decrease.

Interest and fees on loans increased $172,034, or 2.7%, from $6,473,135 for the
nine months ended March 31, 2002 to $6,645,169 for the nine months ended March
31, 2003. The increase was due to a higher average balance of loans resulting
from strong loan demand partially offset by a decline in yield on loans.

Interest earned on securities totaled $564,040 for the nine months ended March
31, 2003, compared to $643,687 for the nine months ended March 31, 2002. The
decrease was a result of a decline in the yield on securities. Dividends on FHLB
stock and other decreased from the 2002's nine month period due to lower
dividend rates on FHLB stock.

--------------------------------------------------------------------------------
                                  (Continued)


                                                                             20.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                  ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS

--------------------------------------------------------------------------------

Interest expense on deposits decreased $420,102 from $2,052,276 for the nine
months ended March 31, 2002, to $1,632,174 for the nine months ended March 31,
2003. The decrease in interest expense was the result of a decline in the cost
of funds more than offsetting an increase in the average balance of deposits.
The decrease in the cost of funds was primarily due to general market
conditions.

Interest on FHLB advances totaled $1,374,040 for the nine months ended March 31,
2003, compared to $1,213,985 for the nine months ended March 31, 2002. The
increase in interest expense was the result of an increase in the average
balance of FHLB advances partially offset by a decrease in interest rates on
advances. The additional borrowings were used to provide funding for loan growth
and purchase obligations of state and political subdivisions.

The provision for loan losses for the nine months ended March 31, 2003 and March
31, 2002 totaled $150,000 and $95,000, respectively. The reason for the increase
is due to higher net charge-offs for the nine months ended March 31, 2003,
compared to the nine months ended March 31, 2002. However, the allowance for
loan losses as a percentage of loans at March 31, 2003 is consistent with June
30, 2002 due to a decline in nonperforming loans and an increase in the loan
balance.

For the nine months ended March 31, 2003, noninterest income totaled $526,890
compared to $336,728 for the nine months ended March 31, 2002. The primary
reason for the increase is due to the Corporation's earnings from its 33%
ownership in CCTA. The Corporation's income from its ownership of CCTA during
the nine months ended March 31, 2003 is the result of the high level of loan
refinance activity in this current low interest rate environment. Additionally,
gains on sales of loans increased from the prior year also due to the high level
of refinance activity.

Noninterest expense totaled $2,638,177 for the nine months ended March 31, 2003,
compared to $2,446,653 for the same period in 2002. This increase was due
primarily to increases in salaries and employee benefits, occupancy and
equipment, state franchise taxes and computer processing. Salaries and employee
benefits expense increased $160,744, or 11.1% as the result of normal annual
merit increases, an increase in the cost of health insurance and additional
expense recognized for the Corporation's ESOP because of the increase in the
Corporation's average stock price compared to 2002. Occupancy and equipment
expense increased $50,632, or 26.6%, as a result of increases in depreciation
and maintenance contracts related to the Corporation's change of data processing
vendors in February 2002. The increase in computer processing was also due to
the Corporation's change in core data processors and the additional features of
the new system. State franchise taxes increased because of the higher capital
levels of the Bank. Other noninterest expense declined as the prior nine month
period included conversion costs related to the change of data processing
vendors.

The volatility of income tax expense is primarily attributable to the change in
income before income taxes, the impact the Corporation's stock price has on the
stock-based employee benefit plans, and, for the current period, tax exempt
income on obligations of state and political subdivisions. The provision for
income taxes totaled $677,300 for the nine months ended March 31, 2003, compared
to $598,700 for the nine months ended March 31, 2002. The effective tax rate was
33.7% for the nine months ended March 31, 2003, compared to 34.7% for the nine
months ended March 31, 2002.


--------------------------------------------------------------------------------
                                  (Continued)


                                                                             21.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                  ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS

--------------------------------------------------------------------------------

LIQUIDITY AND CAPITAL RESOURCES

The Corporation's liquidity, primarily represented by cash and cash equivalents,
is a result of its operating, investing and financing activities. These
activities are summarized below for the nine months ended March 31, 2003 and
2002.


<TABLE>
<CAPTION>
                                                                                               Nine Months
                                                                                             Ended March 31,
                                                                                             ---------------
                                                                                          2003             2002
                                                                                          ----             ----
                                                                                         (Dollars in thousands)
<S>                                                                                  <C>               <C>
Net income                                                                           $      1,333      $      1,127
Adjustments to reconcile net income to net cash from
  operating activities                                                                        380               451
                                                                                     ------------      ------------
Net cash from operating activities                                                          1,713             1,578
Net cash from investing activities                                                        (16,754)           (4,244)
Net cash from financing activities                                                         15,631             2,836
                                                                                     ------------      ------------
Net change in cash and cash equivalents                                                       590               170
Cash and cash equivalents at beginning of period                                            2,932             2,598
                                                                                       ----------       -----------

Cash and cash equivalents at end of period                                           $      3,522             2,768
                                                                                     ============      ============
</TABLE>

The Corporation's principal sources of funds are deposits, loan repayments,
maturities of securities, and other funds provided by operations. The
Corporation also has the ability to borrow from the FHLB and other sources.
While scheduled loan repayments and maturing securities are relatively
predictable, interest rates, general economic conditions, and competition
influence early loan prepayments, mortgage-backed security prepayments and
deposit flows. The Corporation maintains investments in liquid assets based on
management's assessment of (1) need for funds, (2) expected deposit flows, (3)
yields available on short-term liquid assets and (4) objectives of the
asset/liability management program.

At March 31, 2003, the Corporation had commitments to originate variable and
fixed-rate residential and commercial real estate mortgage loans totaling
$3,524,000. Loan commitments are generally for 30 days. The Corporation
considers its liquidity and capital reserves sufficient to meet its outstanding
short- and long-term needs. See Note 5 of the Notes to Consolidated Financial
Statements.

The Bank is required by regulations to meet certain minimum capital
requirements. Current capital requirements call for tangible capital of 1.5% of
adjusted total assets, core capital (which, for the Bank, consists solely of
tangible capital) of 3.0% to 4.0% of adjusted total assets (depending on the
Bank's examination rating) and risk-based capital (which, for the Bank, consists
of core capital and general valuation allowances) of 8.0% of risk-weighted
assets (assets are weighted at percentage levels ranging from 0% to 100%
depending on their relative risk). At March 31, 2003, and June 30, 2002, the
Bank complied with all regulatory capital requirements. Based on the Bank's
computed regulatory capital ratios, the Bank is considered well capitalized
under the applicable requirements at March 31, 2003 and June 30, 2002.
Management is not aware of any matter subsequent to the last regulatory
notification that would cause the Bank's capital category to change.

--------------------------------------------------------------------------------
                                  (Continued)


                                                                             22.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                  ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS

--------------------------------------------------------------------------------

At March 31, 2003 and June 30, 2002, the Bank's actual capital levels and
minimum required levels were as follows.

<TABLE>
<CAPTION>
                                                                                                  To Be
                                                                                            Well Capitalized
                                                                  For Capital            Under Prompt Corrective
                                        Actual                 Adequacy Purposes           Action Regulations
                                 Amount        Ratio         Amount         Ratio          Amount         Ratio
                                 ------        -----         ------         -----          ------         -----
                                                             (Dollars in thousands)
<S>                            <C>              <C>         <C>            <C>              <C>            <C>
March 31, 2003
Total capital (to risk-
  weighted assets)             $  18,298        20.0%       $   7,305      8.0%          $   9,131        10.0%
Tier 1 (core) capital (to
  risk-weighted assets)           17,756        19.4            3,652      4.0               5,478         6.0
Tier 1 (core) capital (to
  adjusted total assets)          17,756        12.1            5,873      4.0               7,341         5.0
Tangible capital (to
  adjusted total assets)          17,756        12.1            2,202      1.5                 N/A

June 30, 2002
Total capital (to risk-
  weighted assets)             $  16,524        20.4%       $   6,492      8.0%          $   8,115        10.0%
Tier 1 (core) capital (to
  risk-weighted assets)           16,025        19.7            3,246      4.0               4,869         6.0
Tier 1 (core) capital (to
  adjusted total assets)          16,025        12.1            5,278      4.0               6,598         5.0
Tangible capital (to
adjusted total assets)            16,025        12.1            1,979      1.5                 N/A
</TABLE>

--------------------------------------------------------------------------------



                                                                             23.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                         ITEM 3. CONTROLS AND PROCEDURES


--------------------------------------------------------------------------------

Within the 90-day period prior to the filing date of this report, the Chief
Executive Officer and Chief Financial Officer of the Corporation evaluated the
effectiveness of the Corporation's disclosure controls and procedures (as
defined in Exchange Act Rules 13a-14(c) and 15d-14(c) under the Securities
Exchange Act of 1934). Based on their evaluation, the Chief Executive Officer
and Chief Financial Officer have concluded that the Corporation's disclosure
controls and procedures are effective to ensure that information required to be
disclosed by the Corporation in this report is recorded, processed, summarized
and reported within the time periods specified in Securities and Exchange
Commission rules and forms. Subsequent to the date of their evaluation, there
were no significant changes in the Corporation's internal control or in other
factors that could significantly affect its internal control.

--------------------------------------------------------------------------------

                                                                             24.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                           PART II - OTHER INFORMATION

--------------------------------------------------------------------------------

Item 1.    Legal Proceedings
           None

Item 2.    Changes in Securities
           None

Item 3.    Defaults Upon Senior Securities
           Not applicable

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

           (a) No current reports on Form 8-K were filed by the Corporation
               during the quarter ended March 31, 2003.

--------------------------------------------------------------------------------

                                                                             25.
<PAGE>


                         HOME LOAN FINANCIAL CORPORATION
                                   SIGNATURES

--------------------------------------------------------------------------------

Pursuant to the requirement of the Securities Exchange Act of 1934, the small
business issuer has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.




Date: May 15, 2003                      /s/ Robert C. Hamilton
      -------------------------         ---------------------------------------
                                        Robert C. Hamilton
                                        President and Chief Executive Officer





Date: May 15, 2003                      /s/ Preston W. Bair
      -------------------------         ---------------------------------------
                                        Preston W. Bair
                                        Secretary, Treasurer and Chief
                                        Financial Officer


--------------------------------------------------------------------------------

                                                                             26.
<PAGE>

                         HOME LOAN FINANCIAL CORPORATION
                  CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER


I, Robert C. Hamilton, certify that:

1)   I have reviewed this quarterly report on Form 10-QSB of Home Loan Financial
     Corporation;

2)   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this quarterly report;

3)   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4)   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a)   designed such disclosure controls and procedures to ensure that
          material information relating to the registrant, including its
          consolidated subsidiaries, is made known to us by others within those
          entities, particularly during the period in which this quarterly
          report is being prepared;

     b)   evaluated the effectiveness of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   presented in this quarterly report our conclusions about the
          effectiveness of the disclosure controls and procedures based on our
          evaluation as of the Evaluation Date;

5)   The registrant's other certifying officers and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of registrant's board of directors (or persons performing the
     equivalent function):

     a)   all significant deficiencies in the design or operation of internal
          controls which could adversely affect the registrant's ability to
          record, process, summarize and report financial data and have
          identified for the registrant's auditors any material weaknesses in
          internal controls; and

     b)   any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          controls; and

6)   The registrant's other certifying officers and I have indicated in this
     quarterly report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date: May 15, 2003
      --------------------

/s/ Robert C. Hamilton
--------------------------
Robert C. Hamilton
President and Chief Executive Officer


--------------------------------------------------------------------------------

                                                                             27.
<PAGE>

                         HOME LOAN FINANCIAL CORPORATION
                  CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER


I, Preston W. Bair, certify that:

1)   I have reviewed this quarterly report on Form 10-QSB of Home Loan Financial
     Corporation;

2)   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this quarterly report;

3)   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4)   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a)   designed such disclosure controls and procedures to ensure that
          material information relating to the registrant, including its
          consolidated subsidiaries, is made known to us by others within those
          entities, particularly during the period in which this quarterly
          report is being prepared;

     b)   evaluated the effectiveness of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   presented in this quarterly report our conclusions about the
          effectiveness of the disclosure controls and procedures based on our
          evaluation as of the Evaluation Date;

5)   The registrant's other certifying officers and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of registrant's board of directors (or persons performing the
     equivalent function):

     a)   all significant deficiencies in the design or operation of internal
          controls which could adversely affect the registrant's ability to
          record, process, summarize and report financial data and have
          identified for the registrant's auditors any material weaknesses in
          internal controls; and

     b)   any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          controls; and

6)   The registrant's other certifying officers and I have indicated in this
     quarterly report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date: May 15, 2003
      ---------------------------

/s/ Preston W. Bair
---------------------------------
Preston W. Bair
Secretary, Treasurer and Chief Financial Officer

--------------------------------------------------------------------------------

                                                                             28.
<PAGE>

                         HOME LOAN FINANCIAL CORPORATION
                                INDEX TO EXHIBITS

<TABLE>
<CAPTION>

EXHIBIT
NUMBER             DESCRIPTION

<S>                <C>                                     <C>
     3.1           Articles of Incorporation of Home       Incorporated by reference to the Registration Statement
                   Loan Financial Corporation              on Form S-1 filed by HLFC on December 16, 1997 (the
                                                           "S-1") with the Securities and Exchange Commission
                                                           (the "SEC"), Exhibit 3.1.

     3.2           Certificate of Amendment to Articles    Incorporated by reference to Pre-Effective Amendment No.
                   of Incorporation of Home Loan           1 to the S-1 filed with the SEC on February 3, 1998,
                   Financial Corporation                   Exhibit 3.2.

     3.3           Code of Regulations of Home Loan        Incorporated by reference to the S-1, Exhibit 3.3.
                   Financial Corporation

     10            Employment Contract for Robert C.       Incorporated by reference to the Form 10-KSB filed by
                   Hamilton                                HLFC on September 28, 1998 (the "10-KSB") with the SEC,
                                                           Exhibit 10.

     11            Statement Regarding Computation of      See Note 6 to the consolidated financial statements.
                   Earnings per Share

     99.1          Certification of the Chief Executive
                   Officer Pursuant to Section 906 of
                   the Sarbanes-Oxley Act of 2002

     99.2          Certification of the Chief Financial
                   Officer Pursuant to Section 906 of
                   the Sarbanes-Oxley Act of 2002
</TABLE>


--------------------------------------------------------------------------------

                                                                             29.