U. S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549

                               FORM 10-KSB

                              ANNUAL REPORT

                   Annual Report Under Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                    For the fiscal year ended December 31, 2001

                       Commission File Number 33-64520


                         BANK BUILDING CORPORATION
               (Name of small business issuer in its charter)

          Virginia 					  54-1714800
(State or other jurisdiction of				(IRS Employer
incorporation or organization)			      Identification Number)

     9112 Virginia Avenue 				    24055
         Bassett, VA					  (Zip Code)
(Address of principal executive offices)



				(276) 629-3331
			   Issuer's telephone number

              Securities registered under Section 12(b) of the Exchange Act:
                                   None

              Securities registered under Section 12(g) of the Exchange Act:
                   400,000 Shares ofCommon Stock with no par value.

Check whether the issuer (1) filed all reports required to be filed by section
13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days:  Yes         No  _X__

Check if disclosure of delinquent filers in response to Item 405 of Regulation
S-B is not contained in this form and no disclosure will be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of the Form 10-KSB or any amendment to
this Form 10-KSB. [X]

Bank Building Corporation's revenue for 2001 equaled $3,656,059.

There are 398,244 shares of stock outstanding as of December 30, 2002.  These
shares are not believed to have any current market value.

Bank Building Corporation Form 10-KSB Table of Contents

Part 1									 3
Item 1.  Description of Business					 3
Item 2.  Description of Property					 4
Item 3.  Legal Proceedings						 6
Item 4.  Submission of Mattersto a Vote of Security Holders.		 6

Part II									 6
Item 5.  Market for Common Equity and Related Stockholder Matters	 6
Item 6.  Management's Discussion and Analysis or Plan of Operation	 6
Item 7.  Financial Statements And Supplementary Data			 8

SUPPLEMENTAL INFORMATION						13
Item 8.  Changes in and Disagreements withAccountants on
	 Accounting and Financial Disclosure				20
Item 9.  Directors,Executive Officers, Promoters and Control Persons	20
Item 10. Executive Compensation						22
Item 11. Security Ownership of Certain Owners and Management 		22
Item 12. Certain Relationships and Related Transactions			22
Item 13. Exhibits and Reports on Form 8-K.				23

Signatures								24
Certification								25

Part 1

Except for the historical information contained in this Form, the matters set
forth herein include Forward-Looking Statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These Forward-Looking Statements include, among other things, statements
of goals, plans, intentions, and expectations, regarding or based upon desired
business strategies, general economic conditions, interest rates, developments
in local and national markets, and other matters, which, by their nature, are
subject to significant uncertainties.  Because of these uncertainties and the
assumptions upon which this Form is based, actual future developments with
respect to the business of the Bank may differ materially from those
contemplated by such statements.

Item 1.  Description of Business

Bank Building Corporation was created and incorporated under Virginia law in
1988.

The primary purpose of the Corporation is to acquire, develop and lease bank
offices to the Participating Banks. These banks are as follows:

Blue Ridge Bank, National Association, Floyd, Virginia Central National Bank,
Lynchburg, Virginia Community National Bank, South Boston, Virginia First
National Bank, Rocky Mount, Virginia First National Exchange Bank, Roanoke,
Virginia Mountain National Bank, Galax, Virginia Patrick Henry National Bank,
Bassett, Virginia Patriot Bank, National Association, Fredericksburg, Virginia
Peoples National Bank, Danville, Virginia Shenandoah National Bank, Staunton,
Virginia

The selection of sites and construction of the offices is done by the
Participating Banks that will lease the sites to insure the needs of the banks
are met.  Should the Corporation decide to participate in a particular project,
the site is titled in the name of the Corporation and all loans in connection
with the site are made to the Corporation.  There are, however, no commitments
on the part of any Participating Bank to present prospective office properties
to the Corporation nor are there any commitments on the part of the Corporation
to accept any prospective office properties offered by any of the Participating
Banks.

The acquisition and development of property is presently financed through loans
from various sources.  While such financing sources cannot be specifically
identified, from time to time other Participating Banks make loans in connection
with the acquisition of a site for another Participating Bank; however, a bank
leasing a particular office will not provide any acquisition or development
loans for that office.  Funds for purchase and development may be acquired from
banks outside the group of Participating Banks.  It is anticipated the
Corporation will be able to finance the acquisition of branch sites internally
at some point in the future.

Following construction of a bank branch, the property is leased to the bank
under a triple net operating lease.  The leasing bank is responsible for all
property taxes, insurance and maintenance costs on that office.  It is
anticipated that the lease payments and other costs approximate the cost which
would have been experienced by the bank had the office been developed by the
bank or leased from a third party.  The lease payments cover all acquisition and
loan costs and other costs associated with the site (just as though the Bank had
acquired the site itself) plus a small additional fee to cover the accounting
and processing costs.

In order to obtain the most desirable branch locations it is often necessary to
acquire more property than will be required for an individual office.
Currently, banking regulations restrict the ability of banks to acquire such
property if it is not used for banking purposes.  The Corporation is not subject
to these restrictions and can acquire the most desirable property and either
sell any excess property or develop it for subsequent sale or lease to other
parties.

Regardless of the amount of property purchased by the Corporation, the lease
with the Participating Bank includes only the portion of the property utilized
for the branch.  The allocation of costs between the branch site and other
property is based on the relative size and market value of each segment.  Any
property other than that used for the branch will be developed, leased or sold
by the Corporation.  Any buildings or other developments on this property will
be compatible with the design of the bank office and consistent with the conduct
of the business of banking.

Both interest and depreciation expenses are incurred on each office as well as
other, minimal operating costs.  These expenses will result in net operating
losses during the initial years of each project although adequate cash flow from
rental payments is anticipated to be available to meet all cash needs.  During
the initial lease term, all leases will be structured for the adjustments to the
monthly lease payments to track adjustments in the payments required by the
underlying mortgage.  After the initial period of the lease, terms will be
renegotiated.  Such terms could provide for lease payments in excess of or less
than payments required by the underlying mortgage and operating expenses.
Additionally, a lessee Participating Bank may determine not to renew its lease
on a particular branch.  Under these circumstances, such branch could be sold or
leased to another tenant.  Such sale or lease could be profitable, although
there can be no assurance that this will occur.

While it is anticipated that renewed leases with a particular Participating Bank
will produce sufficient rental payments to cover mortgage payments and other
costs, there can be no assurance that this can, in fact, be accomplished.
Failure to obtain renewal lease payments sufficient to cover these costs may
result in a forced sale or foreclosure of the particular branch at a loss.

The Corporation does not have any paid employees.  All of its accounting, other
professional services, record keeping and other operational needs will be met by
other organizations on a fee-for-service basis.  It is contemplated that such
fees will be based on time expended plus reimbursable expenses.  It is
anticipated that such costs and expenses will be covered by the lease payments
from the lease of the bank branches.  At the present time, Bank Services of
Virginia, Inc., provides these services.  Bank Services of Virginia, Inc. is a
bank service corporation equally owned by the Participating Banks that currently
provides various bookkeeping and related services to the Participating Banks.

Item 2.  Description of Property

As of December 31, 2001, the Corporation owned and leased the following offices:

Leasing Bank				Property Address
Blue Ridge Bank, N. A.		105 King Street, Blacksburg, VA  24060
Blue Ridge Bank, N. A.		325 Spring Street, Wytheville, VA  24382
Blue Ridge Bank, N. A		370 Arbor Drive, Christiansburg, VA  24073
Central National Bank		3008 Waterlick Road, Lynchburg, VA  24502
Central National Bank		2018 Tate Springs Road, Lynchburg, VA  24501
Central National Bank		1728 Graves Mill Road, Lynchburg, VA  24502
Community National Bank		1002 Virginia Avenue, Clarksville, VA  23927
Community National Bank		749 East 2nd Street, Chase City, VA  23924
Community National Bank		222 Main Street, South Boston, VA  24592
Community National Bank		300 Dabney Drive Ext., Henderson, NC  27536
Community National Bank		205 South Bickett Street, Louisburg, NC  27549
Community National Bank		823 North Main Street, Roxboro, NC  27573
Community National Bank		302 E. Atlantic Street, South Hill, VA  23970
Community National Bank		4251 North Roxboro Road, Durham, NC  27704
First National Bank		550 Blue Ridge Avenue, Bedford, VA  24523
First National Bank		135 Scruggs Road, Moneta, VA  24121
First National Bank		9440 Franklin Street, Ferrum, VA  24088
First National Bank		301 Carbon City Road, Morganton, NC  28655
First National Bank		821 4th Street Drive, SW, Hickory, NC  28602
First National Bank		704 Oak Street, Forest City, NC  28043
First National Exchange Bank	3132 Electric Road, Roanoke, VA  24018
First National Exchange Bank	8334 Moneta Road, Bedford, VA  24523
First National Exchange Bank	2728 Lee Highway South, Troutville, VA  24175
First National Exchange Bank	4143 Franklin Road, SW, Roanoke, VA  24014
Mountain National Bank		507 Willow Street, Mt. Airy, NC 27030
Mountain National Bank		345 North Bridge Street, Jonesville, NC  28642
Mountain National Bank		1606 Curtis Bridge Road, Wilkesboro, NC  28697
Patrick Henry National Bank	630 Fagg Drive, Eden, NC  27288
Patrick Henry National Bank	900 Washington Street, Eden, NC 27288
Patrick Henry National Bank	100 Turner Drive, Reidsville, NC  27320
Patrick Henry National Bank	305 South Main Street, Reidsville, NC  27320
Patrick Henry National Bank	107 South Henry Street, Stoneville, NC  27048
Patrick Henry National Bank	4004 West Wendover Avenue, Greensboro, NC 27407
Patrick Henry National Bank	5715 High Point Road, Greensboro, NC 27407
Patriot Bank, N.A.		40 White Oak Road, Fredericksburg, VA  22405
Patriot Bank, N.A.		55 Worth Avenue, Stafford, VA  22554
Patriot Bank, N.A.		8402 Sudley Road, Manassas, VA  20109
Peoples National Bank		903 South Main Street, Danville, VA  24541
Peoples National Bank		5406 U. S. Highway 29 North, Danville, VA  24527
Peoples National Bank		697 Country Club Drive, Fayetteville, NC 28301
Peoples National Bank		2803 Ward Boulevard, Wilson, NC  27893
Peoples National Bank		123 Rowan Street, Fayetteville, NC  28301
Peoples National Bank		1001 South Horner Road, Sanford, NC  27330
Peoples National Bank		2100 West Arlington Blvd, Greenville, NC 27834
Shenandoah National Bank	75 North Mason Street, Harrisonburg, VA  22802
Shenandoah National Bank	2782 Stuarts Draft Hwy, Stuarts Draft, VA 24477

In addition to these bank offices, the Corporation also owns and leases the
following properties:

Description				Property Location
Golden Corral Restaurant		Raleigh, NC
West Lake Corner Shopping Center	Moneta, VA
Blackstone Shopping Center		Blackstone,
VA Executive Park Office Center		Roanoke, VA

Management considers these properties to be in good condition.  Adequate
insurance is maintained on each of these properties.

Item 3.  Legal Proceedings

There are no material pending legal proceedings to which the Corporation is a
party or to which any of the Corporation's property is subject.

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

The Bank's Annual Shareholder's meeting was held on December 27, 2001.  A total
of  214,837 shares representing   54.0% of the total outstanding shares were
voted at the meeting.  The following items were voted on at the meeting.

					For		Against		Abstain
Fixing the number of Directors at 6

Election of Directors:
Worth Harris Carter, Jr.		214,708		129
Robert W. Conner			214,708		129
William G. Davis			214,529		308
Charles E. Hall				214,708		129
Haller G. Prillaman			214,708		129
R. E. Williams				214,708		129

Other Business				213,325		101		1,411


Part II

Item 5.  Market for Common Equity and Related Stockholder Matters

On February 28, 1995, 398,244 shares of common stock were distributed to
approximately 3,000 shareholders for no consideration.  As of December 31, 2001,
there were approximately 2,800 holders of record of the Corporation's common
stock.  To date, no public trading market for the stock has developed.  There
are no known brokerage firms making any market in the stock, and management is
not aware of the consideration for any shares of the stock that may have been
sold.

No dividends have been paid to date and none are anticipated for the foreseeable
future.


Item 6.  Management's Discussion and Analysis or Plan of Operation

The primary purpose of the Company is to acquire, develop and lease bank offices
to the Participating Banks. This process is coordinated with the management of
each bank.

The Participating Bank selects an area or location for a branch office and
locate a suitable site for the branch. The Participating Bank then selects the
best design and size office for the particular location and constructs the
branch. After the branch is completed and has opened for business, the Company
will purchase the building and negotiate a lease with the Participating Bank.
The Participating Bank will be responsible for insurance, property taxes and
routine maintenance on the branch. In addition, the Participating Bank will own
certain leasehold improvements as well as the furniture, fixtures and equipment
for the office.

The initial lease terms for the office will be set to cover all carrying costs
of the particular site plus a small amount for the accounting and record keeping
costs of the Company. Subsequent lease terms will be negotiated between the
Participating Bank and the Company based on the conditions in the individual
market at that time. All leases are reviewed by both accounting and legal
professionals to insure the lease continues to be classified as an operating
lease for accounting purposes.

Regardless of the amount of property purchased by the Company, the lease with
the Participating Bank will include only the portion of the property utilized
for the branch. The allocation of costs between the branch site and other
property will be determined based on the relative size and market value of each
segment.  Any buildings or other developments on the property will be compatible
with the design of the bank office and consistent with the conduct of the
business of banking.

Initially, the funds to acquire offices will be provided through loans from
various commercial banks. The Participating Banks may provide loans to acquire
property and construct offices; however, a bank leasing a particular office will
not provide any acquisition or development loans for that office. Funds for
purchase and development may also be acquired from banks outside the group of
Participating Banks.

The Company does not have any paid employees. All of its accounting and other
professional services, record keeping and other operational needs are provided
by Bank Services of Virginia on a fee-for-services basis. These costs and
expenses are be covered by the lease payments from the lease of the bank
branches.

During 2001, the Company acquired fifteen branches which brings the total number
of branches owned to 46 as of December 31, 2001. In addition to these branches,
the Company also owns the following:

	A 50% limited partnership interest in Waterlick, L.L.C. Waterlick owns
	and leases certain commercial properties in Lynchburg, Virginia. Central
	National Bank opened an office on a portion of this property in	1997.

	The Company owns West Lake Corner Shopping Center near Smith Mountain
	Lake. First National Bank opened an office on a portion of this property
	in 1998.

	During 1998, the Company purchased the Blackstone Shopping Center in
	Blackstone, VA.

	During 1998, the Company also purchased a Golden Corral Restaurant in
	Raleigh NC.

	During 2001, the Company purchased Executive Office Park in Roanoke,
	Virginia.

Income continues to consist almost entirely of lease payments on the various
properties. These payments equaled nearly $3.4 million for 2001, an increase of
61% over 2000. Interest and depreciation costs equaled $3 million for 2001,
which equals 89% of total expenses. This represents an increase of 67% over
2000.  Net income equaled $152,000 for 2001, $(35,000) for 2000 and $27,000 for
1999. There was no income tax liability due to the recognition of tax loss
carryforwards from pervious years.


Item 7.  Financial Statements And Supplementary Data


MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING

The management of Bank Building Corporation has prepared and is responsible for
the accompanying financial statements, together with the financial data and
other information presented in this annual report. Management believes that the
financial statements have been prepared in conformity with generally accepted
accounting principles appropriate under the circumstances. The financial
statements include amounts that are based on management's best estimates and
judgments. Management maintains and depends upon an internal accounting control
system designed to provide reasonable assurance that transactions are executed
in accordance with management's authorization, that financial records are
reliable as the basis for preparation of all financial statements, and that the
Company's assets are safeguarded. The design and implementation of all systems
of internal control are based on judgments required to evaluate the costs of
control in relation to the expected benefits and to determine the appropriate
balance between these costs and benefits. The Board of Directors functions as
the audit committee and meets periodically with the independent public
accountants and management to review accounting, auditing and internal reporting
matters. The independent public accountants have free access to the Board,
without management present, to discuss the results of their audit work and their
evaluations of internal controls and the quality of financial reporting. The
financial statements in this annual report have been audited by the Company's
independent auditors, Goodman & Company, for the purposes of determining that
the financial statements are presented fairly. Their independent professional
opinion on the Company's financial statements is presented with the attached
financial statements. Worth Harris Carter, Jr. Chairman of the Board, President
and Chief Financial Officer


REPORT OF INDEPENDENT AUDITORS

Board of Directors
Bank Building Corporation

We have audited the accompanying consolidated balance sheets of Bank Building
Corporation and Subsidiary as of December 31, 2001 and 2000, and the related
consolidated statements of operations, changes in equity and cash flows for the
years then ended.  These financial statements are the responsibility of the
Corporation's management.  Our responsibility is to express an opinion on these
financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the United States of America.  Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation.  We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the consolidated financial position of Bank Building
Corporation and Subsidiary of December 31, 2001 and 2000, and the consolidated
results of their operations and their cash flows for the year then ended in
conformity with accounting principles generally accepted in the United States of
America.

The financial statements for the year ended December 31, 1999 were audited by
Manning,Perkinson,Floyd & Company, P. C., which merged with Goodman & Company,
L.L.P. effective January 1,2001, and whose report dated April 14,2000 expressed
an unqualified opinion on those financial statements.

Goodman & Company, L.L.P.
Danville, Virginia
September 16, 2002


Consolidated Balance Sheets December 31, 2001 and 2000

ASSETS: 					2001 		     2000

Current assets

Cash 						$97,560   	    $68,123
Deposit on property 				      -   	     50,000
Total current assets				 97,560 	    118,123

Property - net 				     35,090,085 	 26,437,140

Other assets 					284,338 	    168,715

					    $35,471,983		$26,723,978

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities

Accounts payable 			     $    4,282 	$     4,275
Loan origination fees payable			      - 	     66,929
Accrued interest 				228,984 	    141,060
Current portion of long-term debt		804,047 	    542,201
Notes Payable 					325,000 	  1,717,296
Total current liabilities		      1,846,067 	  2,471,761

Long-term liabilities

Long-term debt-net of current portion 	     33,888,836 	 24,274,707
Deferred income taxes 				 91,600 		  -
Total long-term liabilities 		     33,496,682 	 24,274,707
Total liabilities 			     35,342,749 	 26,746,468

Stockholders' equity (deficit)

Common Stock, no par value, 400,000
shares authorized; 398,244 shares outstanding 	      - 	          -
Retained earnings (deficit) 			129,234 	    (22,490)
Total stockholders' equity (deficit) 		129,234 	    (22,490)

					    $35,471,983 	$26,723,978

The accompanying notes are an integral part of these consolidated financial
statements.

Consolidated Statements of Operations Years ended December 31, 2001, 2000 and
1999

2001 2000 1999
INCOME:

Lease income 				3,427,608	$2,102,807
$1,843,248
Gain on sale of property		  265,963 		 -
-
Other income 				   73,599 	    51,420
30,594
Total income 				3,656,059 	 2,154,227
1,873,842

OPERATING EXPENSES:

Interest 				2,496,172 	 1,626,138
1,356,278
Depreciation 				  551,346 	   413,866
362,570
Amortization 				   14,116 	    13,813
12,475
Taxes and insurance 			   91,165 	    48,803
43,624
Repairs					  142,372 	    49,279
27,180
Professional fees 			    7,419 	     7,440
10,117
Other 					  110,145	    29,653
34,258
Total operating expense 		3,412,735	 2,188,992
1,846,502

    Income (loss) before income taxes     243,324 	   (34,765)
    27,340

    Income taxes 			   91,600 		 -
    -

   Net income (loss) 			  151,724 	   (34,765)
   27,340

Basic and diluted earnings

         (loss) per share 	   $         0.38 	$    (0.09) 	$
         0.07

Weighted average shares outstanding 	  398,244 	    398,244
398,244

The accompanying notes are an integral part of these consolidated financial
statements.

Consolidated Statements of Changes in Equity Years Ended December 31

					 Paid-in Retained

					  Capital Capital Earnings Total
Balance (deficit) - December 31, 1998 		- 	-$(15,065) $(15,065)
Net Income 					- 	-  27,340    27,340
Balance - December 31, 1999 			- 	-  12,275    12,275

Net Loss 					- 	- (34,765)  (34,765)
Balance (deficit) - December 31, 2000 		- 	- (22,490)  (22,490)

Net Income 					- 	- 151,724   151,724
Balance - December 31, 2001 			- 	-$129,234  $129,234


Consolidated Statements of Cash Flows Years ended December 31, 2001, 2000 and
1999

2001 2000 1999: Cash flows from operating activities

Net Income (loss) 			$151,724 $      (34,765) $       27,340

Adjustments to reconcile
net income to net cash provided
by operating activities:

Depreciation 				 551,346 	413,866 	362,570
Amortization 				  14,116 	 13,813 	 12,475
Gain on sale of property 		(154,852)	      - 	      -

Changes in:

Deposit on property 			  50,000 	      - 	      -
Prepaid expenses 			       - 	   7,466 	  1,000
					       - 	       -	  7,135
Accounts payable 			       7 	   4,275 	 (2,763)
Loan origination fees payable 		 (66,929) 	       - 	      -
Accrued interest 			  87,924	  34,595 	(11,235)
Net cash provided by operating
activities 				 724,936	 439,250 	396,522

Cash flows from investing activities:

Additions to loan fees 			(129,739) 	 (66,929) 	(28,660)
Purchase of property		      (9,398,123)     (7,172,553)    (2,836,323)
Proceeds from sale of property 		 348,684 	       -    	      -
Net cash used by investing activities (9,179,178)     (7,239,482)    (2,864,983)

Cash flows from financing activities:

Proceeds from long-term debt 	      10,424,000       6,692,900      2,866,000
Repayment of long-term debt 	 	(548,025)       (427,825)      (367,848)
Proceeds from notes payable 		       - 	 628,796              -
Repayment of notes payable 	      (1,392,296)  	       -        (25,000)
Proceeds (use) of deposit on property 	       - 	 (50,000)             -
Net cash provided by financing
activities 			       8,483,679 	6,843,871      2,473,152

Net change in cash 			  29,437 	   43,639	   4,691
Cash at beginning of year 		  68,123 	   24,484	  19,793
Cash at end of year 		          97,560 	   68,123	  24,484

SUPPLEMENTAL INFORMATION

Cash paid for interest 		      $2,408,248       $1,591,543     $1,367,513

The accompanying notes are an integral part of these consolidated financial
statements.

Notes to Consolidated Financial Statements December 31, 2001, 2000, and 1999

Note 1 - ORGANIZATION AND NATURE OF BUSINESS Bank Building Corporation (the
"Corporation") conducts its business from its office Located in Bassett,
Virginia. The principal business activity of the Corporation is to acquire,
build, finance and lease bank branches in Virginia and North Carolina. The
Corporation and its subsidiary also own and lease two shopping centers, an
office complex and a restaurant. In 1998, the Corporation formed a wholly-owned
subsidiary, Blackstone Properties, LLC (Blackstone).  	All intercompany
transactions between the Corporation and Blackstone have been eliminated in
these consolidated financial statements.

Note 2 - SUMMARY OF SIGNIFICANT

ACCOUNTING POLICIES Leases The Corporation leases its properties under operating
leases. Other income represents fees charged to tenants for maintenance,
insurance, and taxes. Unamortized Loan Fees Unamortized loan fees represent loan
origination fees being ratably amortized over the life of the loan and are
included in other assets.  Accumulated amortization of loan fees amounted to
$30,881 and $16,765 at December 31, 2001 and 2000, respectively. Property and
Equipment Property is stated at cost and is depreciated using the straight-line
method over the estimated useful lives (40 years) of the assets. Estimates The
preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and the disclosure of contingent assets and liabilities at the date
of the financial statements.  Such estimates also affect the reported amounts of
revenues and expenses during the reporting period.  Actual results could vary
from these estimates that were used. Income Taxes Deferred taxes are provided on
a liability method whereby deferred tax assets are recognized for deductible
temporary differences and operating loss and tax credit carryforwards and
deferred tax liabilities are recognized for taxable temporary differences.
Temporary differences are the differences between the reported amounts of assets
and liabilities and their tax return basis. Deferred tax assets are reduced by a
valuation allowance when, in the opinion of management, it is more likely than
not that some portion or all of the deferred tax assets will not be realized.
Deferred tax assets and liabilities are adjusted for the effects of changes in
tax laws and rates on the date of enactment.  The only significant timing
differences consists of loan origination fees, which are expensed, for income
tax purposes, when incurred. Earnings Per Share Basic earnings per share (EPS)
excludes dilution and is computed by dividing income available to common
shareholders by the weighted average number of shares outstanding for the
period.  Diluted EPS reflects the potential dilution that could occur if
securities or other contracts to issue common stock were issued, converted into
common stock or resulted in the issuance of common stock that then shared in the
earnings of the entity.  The Corporation had no dilutive common stock as of
December 31, 2001, 2000, and 1999; therefore, diluted earnings per share equals
basic earnings per share.

NOTE 3 - PROPERTY AND EQUIPMENT Property and equipment consists of the following
at December 31:

					   2001 	   2000
Land 					$10,403,336 	$ 7,978,357
Building 				 26,414,832 	 19,640,861
					 36,818,168 	 27,619,218
Less - accumulated depreciation 	 (1,728,083) 	 (1,182,078)
					$35,090,085 	$26,437,140

NOTE 4 - LEASES The primary purpose of Bank Building Corporation is to acquire
and develop property for lease as bank offices to a number of banks.  The
selection of sites and construction of the offices is done by the banks that
will lease the site to insure the needs of the bank are met.  There are,
however, no commitments on the part of any of the banks to present prospective
office properties to Bank Building Corporation nor are there any commitments on
the part of Bank Building Corporation to accept any prospective office
properties offered by any of the banks.  The acquisition and development of
property is financed through loans from various sources.

At December 31, 2001, the Corporation owned 46 offices which are leased to
various Banks (as disclosed in Note 8) under triple net operating leases.  The
leasing bank is responsible for all property taxes, insurance and maintenance
costs on each leased office.  The Corporation incurs both interest and
depreciation expenses related to each office as well as other, minimal operating
costs.  In addition, the Corporation and its subsidiary own four non-bank
commercial properties.

The Corporation leases substantially all of its property under long term
operating leases.  Future minimum payments, due under existing leases at
December 31, 2001 were as follows:

2002 		$  3,878,867
2003 		   3,698,296
2004 		   3,506,241
2005 		   3,385,309
2006 		   3,292,888
Thereafter 	  27,048,035
		 $44,809,636

Note 5 - Investment in Waterlick, L.L.C. The Corporation is a 50% limited
partner in Waterlick, L. L. C. Waterlick owns and leases certain commercial
properties in Lynchburg, Virginia. This investment is accounted for by the
equity method.  As no funds were invested in Waterlick, its losses are not
reflected in the financial statements. Condensed (unaudited) financial data for
Waterlick is as follows: Balance Sheets

December 31

				    2001            2000

Current assets 			$    3,159 	$       626
Property and equipment - net       216,874 	    221,215
				   220,033 	$   221,841

Liabilities 			   270,300 	    263,983
Owners' equity (deficit) 	   (50,267) 	    (42,142)
				$  220,033 	$   221,841

Statements of Operations

Year Ended

December 31

2001 2000
Revenues 			$   24,800 	$    26,750
Expenses 			   (32,925) 	    (35,062)
Net Loss 			$   (8,125) 	$    (8,312)


Note 6 - Debt Long-term debt consists of the following at December 31:

2001 2000 Mortgage loan secured by real
estate (shopping center) and related
leases.  Monthly payments are $19,403
including principal and interest at 7.00%,
with the final payment due in 2012		$ 1,598,798 $ 1,695,363

Mortgage loan secured by real estate
(shopping center) and related leases.
Monthly payments are $8,418 including
principal and interest at 8.25%, with the
final payment in 2011.				    716,598           -

Mortgage loan secured by real estate
(shopping center) and related leases.
Monthly payments are $20,394 including
principal and interest at 8.50%, with the
final payment due in 2018.			  2,162,368   2,220,578

Mortgage loan secured by real estate and
lease for a Golden Corral restaurant.
Monthly payments are $16,302 including
principal and interest at 6.0%, with the
final payment due in 2004.			  1,693,726   1,784,735

Mortgage loan secured by real estate
(office park) and related leases.  Monthly
payments are $17,444, including principal
and interest at 7.00%, with the final
payment due in 2006.				  2,241,336           -

Mortgage loans secured by real estate
(branch bank facilities) and related
leases. Monthly payments at December 31,
2001 are $229,823, including principal
and interest, with the final payments due
from 2009 to 2017. Interest rates range from
7.00% to 8.75% at December 31, 2001, and are
subject to adjustments at various times.	 26,280,057  19,116,232

						 34,692,883  24,816,908
Less current portion 				   (804,047)   (542,201)
						$33,888,836 $24,274,707

Maturities of long-term debt at December 31, 2001 are as follows:

2002 		$   804,047
2003 		    868,125
2004 		  2,322,982
2005 		    896,583
2006 		  2,896,338
Thereafter 	 26,904,758
	        $34,692,883

At December 31, 2001 and 2000, the Corporation had unsecured demand notes
payable of $325,000 (9% interest) and $1,717,296 (9% interest), respectively,
with certain of the banks addressed in note 8.

Note 7 - Income Taxes The income tax benefit (expense) consists of the
following:

					2001 		2000      1999
Current 			    $      - 	     $ (6,592) $ (5,495)
Deferred 			     (91,600) 		6,592     5,495
				    $(91,600) 	     $      -  $      -

At December 31, 2001, the Corporation had net operating loss (NOL) carryforwards
of approximately $35,000 expiring from 2016 through 2020.  A deferred tax asset
has not been recorded since it is not known whether the NOL's will be utilized
in the foreseeable future.

Income tax benefit (expense) differs from the amount of income tax determined by
applying the U.S. federal income tax rate to pretax income due to the following:

					  2001 		  2000 	     1999
Tax benefit (expense)
computed by applying federal rate
to income before income taxes		$(82,730)	$(11,820)   $(9,295)
State income taxes 			  (8,870) 	  (1,377)    (1,082)
Effect of surtax exemptions 		       - 	   6,605      4,882
Valuation allowance 			       - 	   6,592      5,495
					$(91,600) 	$      -    $     -

Note 8 - RELATED PARTY TRANSACTIONS The Chairman of the Board and President of
the Corporation serves in a similar capacity for ten commercial banks throughout
Virginia:  Blue Ridge Bank, N.A., Floyd, Virginia; Central National Bank,
Lynchburg, Virginia; Community National Bank, South Boston, Virginia; First
National Bank, Rocky Mount, Virginia; First National Exchange Bank, Roanoke,
Virginia; Mountain National Bank, Galax, Virginia; Patrick Henry National Bank,
Bassett, Virginia; Patriot Bank, N.A., Fredericksburg, Virginia; Peoples
National Bank, Danville, Virginia; and Shenandoah National Bank, Staunton,
Virginia.

The Corporation had outstanding mortgage loans with certain of these banks at
December 31, 2001 totaling $33,094,085 and $23,121,545 at December 31, 2000.
The Corporation also leases branch-banking locations to certain of these banks.
Lease income received from these banks was $2,222,122 in 2001, $1,507,463 in
2000, and $1,256,340 in 1999; however, mortgage loans are not obtained from the
same affiliated bank leasing the property securing the loan.

Note 9 - FAIR VALUE OF FINANCIAL INSTRUMENTS Statement of Financial Accounting
Standards No. 107, "Disclosures about Fair Values of Financial Instruments"
requires the Corporation to disclose the estimated fair values of its financial
assets and liabilities.  The estimated fair values were determined using the
following assumptions:

Cash:  The carrying value of cash approximates fair value.

Notes Payable and Long-term Debt:  The fair value of long-term debt and notes
payable is estimated by discounting the anticipated cash flows using estimated
market rates for similar loans available in the Corporation's market area.

2001 2000

		Book Value Fair Value Book Value   Fair Value
Financial assets

Cash 		$   97,560 $     7,560 $    68,123 $   68,123

Financial liabilities

Notes payable      325,000     325,000   1,717,296   1,717,296
Long-term debt  34,692,883  33,652,097  24,816,908  24,207,508
	       $35,017,883 $33,977,097 $26,534,204 $25,294,804

Note 10 - COMMITMENTS AND CONTINGENCIES

On July 30, 2002, Congress passed the Sarbanes-Oxley Act.  This law will
potentially affect the Corporation through increased management and Board
oversight, as well as increased timeliness of required SEC filings.

The annual report on Form 10-KSB for December 31, 2001, and the quarterly
reports on Form 10-QSB for March 31, 2002 and June 30, 2002 had not been filed
as of the date of the auditors' report.  Management is in the process of
preparing these filings. Management is unable to determine the extent of
contingent monetary effects, if any, of late filing (including fines, penalties
and damages) on the financial statements of the Corporation. Note 11 - NEW
ACCOUNTING PRONOUNCEMENTS In June 2001, the Financial Accounting Standards Board
(FASB) issued Statement No. 141, Business Combinations and Statement No. 142
Goodwill and Other Tangible Assets.  Statement 141 prospectively prohibits the
pooling if interest method of accounting for business combinations initiated
after June 30, 2001.  Statement No. 142 is generally effective for fiscal years
beginning after December 15, 2001, and requires that the amortization of
existing goodwill will cease on December 31, 2001.  However, any good will
resulting from acquisitions completed after June 30, 2001 will not be amortized.
Statement No. 142 also establishes a new method of testing goodwill for
impairment on an annual basis, or on an interim basis, if an event occurs or
circumstances change that would reduce the fair value of a reporting unit below
its carrying value.

In June 2001, FASB issued Statement No. 142, Accounting for Asset Retirement
Obligations.  It requires an entity to recognize the fair value of a liability
for an asset retirement obligation in the period in which it is incurred, if a
reasonable estimate of fair value can be made.  If a reasonable estimate of fair
value cannot be made in the period the asset retirement obligation is incurred,
the liability shall be recorded when a reasonable estimate of fair value can be
made.

In August 2001, FASB issued Statement No. 144, Accounting for the Impairment or
Disposal of Long-Lived Assets, which supersedes Statement No. 121, Accounting
for the Impairment or Disposal of Long-Lived Assets to Be Disposed Of.
Statement No. 144 establishes a single model for the impairment or disposal of
long-lived assets and new standards for reporting discontinued operations and is
generally effective for fiscal years beginning after December 15, 2001.

On December 26, 2001, the Accounting Standards executive Committee (AcSEC) of
the American Institute of Certified Public Accountants (AICPA) issued Statement
of Position (SOP) 01-6, Accounting by Certain Entities (Including Entities With
Trade Receivables) That Lend to or Finance the Activities of Others.  The SOP is
effective for financial statements issued for fiscal years beginning after
December 15, 2001.  With limited exceptions, this SOP applies to any entity that
lends to or finances the activities of others.  This SOP provides specialized
guidance for certain transactions specific to certain financial institutions.
Divergence in accounting practices among certain elements of the financial
services industry for similar transactions has resulted in the need for a
reconciliation of existing guidance.  This SOP reconciles and conforms, as
appropriate, the accounting and financial reporting provisions established by
the AICPA's Audit and Accounting Guides for Banks and Savings Institutions,
Audits of Credit Unions, and the Finance Companies Guide.

In April 2002, FASB issued Statement No. 145, Rescission of FASB Statements No.
4, 44 and 64.  Amendment of FASB Statement No. 13, and Technical Corrections.
Statement No. 145 is generally effective for financial statements issued on or
after May 15, 2002, rescinds FASB Statement No. 4, effective for financial
statements issued on or after May 15, 2002, rescinds FASB Statement No. 4,
(including amendments) Reporting Gains and Losses from Extinguishments of Debt,
FASB Statement No. 64, Extinguishments of Debt Made to Satisfy Sinking-Fund
Requirements, and clarifies That such gains and losses should not be reported as
extraordinary items.  This statement also rescinds FASB Statement No. 44,
Accounting for Intangible Assets of Motor Carries.  This statement amends FASB
Statement No. 13, Accounting for Leases, to eliminate an inconsistency between
the required accounting for sale-leaseback transactions and the required
accounting for certain lease modifications that have economic effects that are
similar to sale-leaseback accounting for certain lease modifications that have
economic effects that are similar to sale-leaseback transactions.  This
statement also amends other existing authoritative pronouncements to make
various transactions.  This statement also amends other existing authoritative
pronouncements to make various technical corrections, clarify meanings, or
describe their applicability under changed conditions.

In June 2002, FASB issued Statement No. 146, Accounting for Costs Associated
with Exit or Disposal Activities.  This statement addresses financial accounting
and reporting for costs associated with exit or disposal activities and
nullifies Emerging Issues Task Force (EITF) Issue No. 94-3, "Liability
Recognition for Certain Employee Termination Benefits and Other Costs to Exit an
Activity (including Certain Costs Incurred in a Restructuring).

In management's opinion, the above pronouncements will not have a material
effect on future financial statements of the Corporation.

Item 8.  Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure

	There have been no changes in or disagreements with any accountants on
	accounting and financial disclosures.

Item 9.  Directors, Executive Officers, Promoters and Control Persons

DIRECTORS

Director	Principal Occupation for		Age		Director
		the Past Five Years					Since

Carter, Worth Harris, Jr.				65		1994
Chairman of the Board and President

Worth Harris Carter, Jr. is a director and officer of the following companies:

Chairman of the Board of First National Bank since 1976,President since 1986
Chairman of the Board and President of Patrick Henry National Bank since 1977
Chairman of the Board of Peoples National Bank since 1976, President since 1981
Chairman of the Board of Blue Ridge Bank since 1982
Chairman of the Board and President of Community National Bank since 1985
Chairman of the Board and President of Mountain National Bank since 1996
Chairman of the Board and President of Shenandoah National Bank since 1996
Chairman of the Board and President of Central National Bank since 1996
Chairman of the Board and President of Patriot Bank since 1996
Chairman of the Board and President of First National Exchange Bank since 1998
Chairman of the Board and President of Mortgage Company of Virginia since 1984
Chairman of the Board and President of Bank Services of Virginia since 1984
Chairman of the Board and President of Bank Building Corporation since 1994

Conner, Robert W.					62		1995

Robert W. Conner is Clerk, Circuit Court of Halifax County and a farmer.  He has
been a Director of Community National Bank since 1985.  He has served on the
Boards of Directors of both Bank Services of Virginia and Mortgage Company of
Virginia.

Davis, William G.					60		1995

William G. Davis is and has been an Attorney at law in the firm of Davis, Davis,
Davis & Rice, Rocky Mount, Virginia for more than five years.  He has been a
Director of First National Bank, Rocky Mount, Virginia since 1974. He has served
on the Boards of Directors of both Bank Services of Virginia and Mortgage
Company of Virginia

Hall, Charles E.					60		1995

Charles E. Hall is and has been a Dairy Farmer in Floyd County, Virginia more
than five years.  He has served on the Board of Directors for Blue Ridge Bank,
Floyd, Virginia since 1978 and has served on the Boards of Directors of Bank
Services of Virginia and Mortgage Company of Virginia.

Prillaman, Haller G.					69 		1995

Haller G. Prillaman is and has been President of Prillaman Brothers, Inc.,
Martinsville, Va. for more than five years.  He has been a director of Patrick
Henry National Bank, Bassett, Virginia since 1976 and has been a director of
Mountain National Bank, Galax, Virginia since 1996.  He has also served on the
Boards of Directors of both Bank Services of Virginia and Mortgage Company of
Virginia

Williams, R. E.						68 		1995

R. E. Williams is and has been President of Dry Fork Milling Company, Inc.,
Danville, Virginia for more than five years.  He has served on the Board of
Directors of Peoples National Bank, Danville, Virginia since 1977.  He has also
served on the Boards of Directors of both Mortgage Company of Virginia and Bank
Services of Virginia.

EXECUTIVE OFFICERS

The Corporation has no executive offices other than Mr. Carter, whose background
is discussed above.

There are no family relationships between any officers and directors of the
bank.

Section 16(a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Securities Exchange Act of 1934 (the Exchange Act) requires
directors, executive officers and 10% beneficial owners of the Corporation's
common stock to file reports concerning their ownership of such stock.  The
Corporation believes that it's officers and directors complied with all filing
requirements under Section 16(a) during 2001.

Item 10.  Executive Compensation

The Corporation does not pay its directors and officers for their service to the
Corporation.  Therefore, for the year ended December 31, 2001, the Corporation
paid no compensation to, no is there any compensation owed or due to, any
director or officer of the Corporation.

Item 11.  Security Ownership of Certain Owners and Management

The following table sets for the beneficial ownership of the Corporation's
common stock, as of December 31, 2001, for each director and for all directors
as a group.  To the Corporation's knowledge, Mr. Carter is the Corporation's
only shareholder owning more than 5% of the outstanding common stock

Ownership as a


Name 			Amount and Nature of Common Stock 	Percentage of
			   Beneficial Ownership (1)(2)(3)	Outstanding

Carter, Worth Harris, Jr.		47,605(4)		11.95%
Conner, Robert W.			 1,119(5)		*
Davis,William G.			 2,271(6)		*
Hall, Charles E.			   135			*
Prillaman, Haller G.			 3,470	  		*
Williams, R. E.				 1,156			*

All directors as a group (6 persons)	55,756			14.00%

* - Less than 1.0% based on total outstanding shares of 398,244 as of December
31, 2001

1. For the purposes of this table, beneficial ownership has been determined in
accordance with the provisions of Rule 13d-3 of the Exchange Act under which, in
general, a person is deemed to be the beneficial owner of a security if he has
or shares the power to vote or direct the voting of the security or the power to
dispose of or direct the disposition of the security, or if he has the right to
acquire beneficial ownership of the security within sixty days. 2. Includes
shares held by affiliated corporations, close relatives and children, and shares
held jointly with spouses or as custodians or trustee for children. 3. Unless
otherwise indicated, the shares listed in this table represent sole voting and
investment power. 4. Includes the following shares with respect to which Mr.
Carter is deemed to be the beneficial owner:  4,220 shares held by Mr. Carter as
custodian, 2,519 shares held by Mr. Carter's family members, and 538 shares held
by C & C Realty, Inc. 5. Includes the following shares with respect to which Mr.
Conner is deemed to be the beneficial owner:  219 shares held by family members.
6. Includes 232 shares held by family members over which Mr. Davis is deemed to
have investment powers.

Item 12.  Certain Relationships and Related Transactions

	The Corporation does not currently engage in, nor does it anticipate
	engaging in, any transaction in which any director or executive officer
	of the Corporation, or immediate family members thereof had or is to
	have a direct or indirect material interest.

Item 13.  Exhibits and Reports on Form 8-K.

(a)	Exhibits

	3.1	Articles of Incorporation
	3.2	Bylaws
	21	Subsidiaries

(b) 	Reports on Form 8-K

	None.

Signatures

	In accordance with Section 13 or 15(d) of the Exchange Act, the
	registrant caused this report to be signed on its behalf by the
	undersigned, thereunto duly authorized.

Registrant:		Bank Building Corporation

Date			December 30, 2002

By			/s/Worth Harris Carter, Jr. President and Chief
			Financial Officer

In accordance with the Exchange Act, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.

Name Capacity Date

/s/ Worth Harris Carter, Jr.	Chairman of the Board,	December 30,2002
    Worth Harris Carter, Jr. 	President And Chief
				Financial Officer


/s/ Robert W. Conner 		Director 		December 30,2002
    Robert W. Conner

/s/ William G. Davis 		Director 		December 30,2002
    William G. Davis

/s/ Charles E. Hall 		Director 		December 30,2002
    Charles E. Hall

/s/ Haller G. Prillaman 	Director 		December 30,2002
    Haller G. Prillaman

/s/ R. E. Williams 		Director 		December 30,2002
    R. E. Williams



Certification

I, Worth Harris Carter, Jr., certify that:

1. I have reviewed this annual report on Form 10-KSB of Bank Building
Corporation;

2. Based on my knowledge, this annual report does not contain any untrue
statement of 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 annual
report;

3. Based on my knowledge, the financial statements and other financial
information included in this annual report, fairly represent 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 annual report.

Date:	December 30, 2002
/s/  Worth Harris Carter, Jr.
     Worth Harris Carter, Jr.
Chairman of the Board, President, Chief
Executive Officer and Chief Financial Officer