SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                   FORM 10-QSB



(Mark One)

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

         For the quarterly period ended December 31, 2002.


                                       OR

[   ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934


                         Commission File Number: 0-26570


                    Harrodsburg First Financial Bancorp, Inc.
             (Exact name of registrant as specified in its charter)

Delaware                                                          61-1284899
--------------------------------------------------------------------------------
(State or other jurisdiction of                                (I.R.S. Employer
  incorporation or organization)                             Identification No.)

104 South Chiles Street, Harrodsburg, Kentucky                      40330
--------------------------------------------------------------------------------
(Address of principal executive offices)                          (Zip Code)

Registrant's telephone number, including area code:  (859) 734-5452
                                                     --------------

Indicate by check mark whether the registrant (1) has 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 ninety days.                Yes   X     No
                                                          ------     -----

As of February 7, 2003,  1,334,039 shares of the registrant's  common stock were
issued and outstanding.



<PAGE>


                                    CONTENTS


<TABLE>
<S>          <C>                                                                            <C>

PART I.        FINANCIAL INFORMATION

Item 1.        Financial Statements

               Consolidated Balance Sheets as of December 31, 2002 (unaudited) and
                        September 30, 2002....................................................3

               Consolidated Statements of Income for the Three-Month Periods Ended
                        December 31, 2002 and 2001 (unaudited)................................4

               Consolidated Statements of Changes in Stockholders' Equity for the
                        Three Month Periods Ended December 31, 2002 and 2001 (unaudited)......5

               Consolidated Statements of Cash Flows for the Three Month Periods Ended
                        December 31, 2002 and 2001 (unaudited)................................6

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

Item 2.        Management's Discussion and Analysis of Financial Condition and
                        Results of Operations.................................................9

Item 3         Controls and Procedures.......................................................15

PART II.       OTHER INFORMATION

Item 1.        Legal Proceedings............................................................ 16
Item 2.        Changes in Securities........................................................ 16
Item 3.        Defaults Upon Senior Securities.............................................. 16
Item 4.        Submission of Matters to a Vote of Security Holders.......................... 16
Item 5.        Other Information............................................................ 16
Item 6.        Exhibits and Reports on Form 8-K............................................. 16

Signatures and Certifications................................................................17

</TABLE>


<PAGE>


            HARRODSBURG FIRST FINANCIAL BANCORP, INC. AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>

                                                                               As of                 As of
                                                                           December 31,          September 30,
                                                                               2002                  2002
                                                                        ------------------    ------------------
ASSETS                                                                    (unaudited)

<S>                                                                   <C>                    <C>
Cash and cash equivalents                                               $  15,123,192          $   9,555,676
Interest bearing deposits in banks                                            100,000              2,892,000
Securities available-for-sale at fair value                                18,540,983             17,275,431
Securities held-to-maturity, fair value of $1,240,000 and
    $2,761,000 at December 31, 2002 and September 30, 2002                  1,219,823              2,221,053
Federal Home Loan Bank stock, at cost                                       1,852,200              1,831,400
Loans receivable, net                                                     109,956,917            113,351,935
Accrued interest receivable                                                   659,333                667,290
Investment in Independence Bancorp of New Albany                            1,749,511
Cash surrender value of life insurance                                      2,691,291              2,646,941
Premises and equipment, net                                                 1,995,779              1,838,733
Core deposit intangible asset                                                 265,872
Goodwill                                                                      356,064                356,064
Other assets                                                                  178,606                415,515
                                                                        -------------          -------------

    Total assets                                                        $ 154,689,571          $ 153,052,038
                                                                        =============          =============

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits                                                                $ 127,297,913          $ 121,920,471
Advances from Federal Home Loan Bank                                        1,000,000              5,000,000
Advance payments by borrowers for taxes and insurance                             301                    364
Deferred federal income tax                                                 1,635,990              1,537,650
Dividends payable                                                                                    401,975
Other liabilities                                                             555,000                463,668
                                                                        -------------          -------------
    Total liabilities                                                     130,489,204            129,324,128
                                                                        -------------          -------------

Minority interests                                                          1,662,939              1,661,699
                                                                        -------------          -------------

Stockholders' equity
    Common stock, $0.10 per value,  5,000,000 shares  authorized;
        1,257,987 and 1,257,477 shares issued and outstanding at
        December 31, 2002 and September 30, 2002, respectively                218,213                218,213
    Additional paid-in capital                                             21,262,650             21,283,692
    Retained earnings, substantially restricted                            11,213,394             10,906,419
    Accumulated other comprehensive income                                  3,066,628              2,867,743
    Treasury stock, 848,109 and 842,209 shares, at cost, as of
               December 31, 2001 and September 30, 2002, respectively     (12,462,938)           (12,385,241)
    Unallocated employee stock ownership plan (ESOP) shares                  (760,519)              (824,615)
                                                                        -------------          -------------
         Total stockholders' equity                                        22,537,428             22,066,211
                                                                        -------------          -------------

         Total liabilities and stockholders' equity                     $ 154,689,571          $ 153,052,038
                                                                        =============          =============
</TABLE>

          See accompanying notes to consolidated financial statements.

                                       3

<PAGE>

           HARRODSBURG FIRST FINANCIAL BANCORP, INC. AND SUBSIDIARY
                        CONSOLIDATED STATEMENTS OF INCOME
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                       For the Three-Month Periods
                                                           Ended December 31,
                                                     -------------------------------
                                                        2002               2001
                                                     ------------      -------------
<S>                                                 <C>              <C>
Interest income:
   Interest on loans                                  $ 1,979,435      $ 2,086,995
   Interest and dividends on securities                   132,041           75,465
   Other interest income                                   50,991           97,096
                                                      -----------      -----------
         Total interest income                          2,162,467        2,259,556
                                                      -----------      -----------

Interest expense:
   Interest on deposits                                 1,059,731        1,261,979
   Interest on other borrowings                            16,434           48,797
                                                      -----------      -----------
         Total interest expense                         1,076,165        1,310,776
                                                      -----------      -----------

Net interest income                                     1,086,302          948,780
Provision for loan losses                                  29,100           42,000
                                                      -----------      -----------
Net interest income after provision for loan losses     1,057,202          906,780
                                                      -----------      -----------

Non-interest income:
   Loan and other service fees, net                        70,410           63,456
   Other                                                  204,493            8,448
                                                      -----------      -----------
                                                          274,903           71,904
                                                      -----------      -----------
Non-interest expense:
   Compensation and benefits                              453,733          451,690
   Occupancy expenses, net                                 86,642           81,859
   Federal and other insurance premiums                     7,374            6,917
   Data processing expenses                                76,385           91,571
   State franchise tax                                     33,828           29,759
   Other operating expenses                               205,744          176,783
                                                      -----------      -----------
                                                          863,706          838,579
                                                      -----------      -----------

Income before income tax expense                          468,399          140,105
Income tax expense                                       (163,992)        (107,092)
Minority interests                                          6,156           76,471
                                                      -----------      -----------
Net income                                            $   310,563      $   109,484
                                                      ===========      ===========
Basic earnings per common share                       $       .25      $       .09
                                                      ===========      ===========
Diluted earnings per common share                     $       .25      $       .09
                                                      ===========      ===========
Weighted average common shares outstanding              1,255,970        1,239,319
                                                      ===========      ===========
Weighted average common shares outstanding
   after dilutive effect                                1,255,970        1,239,319
                                                      ===========      ===========

</TABLE>

          See accompanying notes to consolidated financial statements.

                                       4

<PAGE>

            HARRODSBURG FIRST FINANCIAL BANCORP, INC. AND SUBSIDIARY
            CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
          For the Three Month Periods Ended December 31, 2002 and 2001
                                   (unaudited)

<TABLE>
<CAPTION>
                                                                          Accumulated
                                              Additional                    Other                        Unearned         Total
                                    Common      Paid-in      Retained    Comprehensive    Treasury          ESOP       Stockholders'
                                     Stock      Capital      Earnings       Income         Stock           Shares         Equity
                                   --------   -----------   -----------  -------------  ------------    ------------   -------------


<S>                              <C>        <C>           <C>           <C>           <C>             <C>            <C>
Balance, September 30, 2002        $218,213   $21,283,692   $10,906,419   $2,867,743    $(12,385,241)   $  (824,615)   $22,066,211

Comprehensive income:
  Net income                                                    310,563                                                    310,563
  Other comprehensive income,
   net of tax unrealized
   gains on securities                                                       198,885                                       198,885
                                                                                                                       -----------

Total comprehensive income                                                                                                 509,448
ESOP shares earned                                (21,042)       (3,588)                                     64,096         39,466
Purchase of common stock                                                                     (77,697)                      (77,697)
                                   --------   -----------   -----------   ----------    ------------    -----------    -----------

Balance, December 31, 2002         $218,213   $21,262,650   $11,213,394   $3,066,628    $(12,462,938)   $  (760,519)   $22,537,428
                                   ========   ============  ===========   ==========    ============    ===========    ===========

Balance, September 30, 2001        $218,213   $21,237,991   $10,978,953   $3,257,257    $(12,333,701)   $(1,053,323)   $22,305,390
                                                                                                                       -----------
Comprehensive income:
  Net income                                                    109,484                                                    109,484
  Other comprehensive income,
   net of tax unrealized
   gains on securities                                                        20,351                                        20,351
                                                                                                                       -----------

Total comprehensive income                                                                                                 129,835

ESOP shares earned                                  3,981                                                    32,783         36,764

Purchase of common stock                                                                      (8,985)                       (8,985)
                                   --------   -----------   -----------   ----------    ------------    -----------    -----------

Balance, December 31, 2001         $218,213   $21,241,972   $11,088,437   $3,277,608    $(12,343,686)   $(1,020,540)   $22,463,004
                                   ========   ===========   ===========   ==========    ============    ===========    ===========
</TABLE>


          See accompanying notes to consolidated financial statements.

                                        5


<PAGE>


            HARRODSBURG FIRST FINANCIAL BANCORP, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                         For the Three-Month Periods
                                                              Ended December 31,
                                                         ----------------------------
                                                           2002              2001
                                                        -----------      ------------
<S>                                                   <C>              <C>
Operating activities
Net income                                              $   310,563      $   109,484
Adjustments to reconcile net income to net cash
    provided by operating activities:
    Provision for loan losses                                29,100           42,000
    ESOP benefit expense                                     39,467           36,764
    Provision for depreciation                               46,114           30,799
    Amortization of loan fees                               (50,948)         (35,855)
    Accretion/amortization of investment
      premium/discount                                        5,401            2,567
    FHLB stock dividend                                     (20,800)         (23,600)
    Gain on sale of securities                              (18,326)
    Gain on sale of property                               (119,855)
    Minority interest                                         1,239          (76,471)
    Change in:
      Interest receivable                                     7,958           31,286
      Interest payable                                       (3,757)          31,596
      Accrued liabilities                                   (15,708)          41,789
      Prepaid expense                                        72,895           34,497
      Cash surrender value of life insurance                (44,350)
      Income tax payable                                    209,137          110,908
                                                        -----------      -----------

    Net cash provided by operating activities               448,130          335,764
                                                        -----------      -----------

Investing activities
Net (increase) decrease in loans                          3,348,196       (2,775,706)
Proceeds from maturity of investment securities - HTM     1,000,000        1,000,000
Proceeds from sale of securities - AFS                    2,597,706        7,498,031
Purchase of securities - AFS                             (3,665,600)      (4,498,688)
Purchase of bank owned life insurance                                     (2,500,000)
Proceeds from sale of property                              462,543
Maturity of certificates of deposit                       2,792,000
Investment in Independence Bancorp, Inc.                 (2,000,000)
Purchase of fixed assets                                   (313,164)         (12,590)
                                                        -----------      -----------

    Net cash provided (used) by investing activities      4,221,681       (1,288,953)
                                                        -----------      -----------
</TABLE>


          See accompanying notes to consolidated financial statements.

                                        6

<PAGE>

            HARRODSBURG FIRST FINANCIAL BANCORP, INC. AND SUBSIDIARY
                CONSOLIDATED STATEMENTS OF CASH FLOWS, Continued
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                       For the Three-Month Periods
                                                                            Ended December 31,
                                                                 --------------------------------------
                                                                       2002                  2001
                                                                 ---------------       ----------------
<S>                                                            <C>                   <C>
Financing activities
Net increase (decrease) in demand deposits,
    NOW accounts and savings accounts                                  2,347,269               715,824
Net increase (decrease) in certificates of deposit                     3,030,172             5,758,269
Net increase (decrease) in custodial accounts                                (64)               (1,193)
Purchase of treasury stock                                               (77,697)               (8,985)
Proceeds from FHLB borrowings                                                                7,000,000
Repayment of FHLB borrowings                                          (4,000,000)           (7,000,000)
Payment of dividends                                                    (401,975)             (404,150)
                                                                 ---------------       ---------------

    Net cash provided by financing activities                            897,705             6,059,765
                                                                 ---------------       ---------------

    Increase in cash and cash equivalents                              5,567,516             5,106,576

Cash and cash equivalents, beginning of period                         9,555,676            10,795,848
                                                                 ---------------       ---------------

Cash and cash equivalents, end of period                         $    15,123,192       $    15,902,424
                                                                 ===============       ===============


Supplemental Disclosures
    Cash payments for:
       Interest on deposits                                      $       884,803       $     1,279,180
                                                                 ===============       ===============
       Income taxes                                              $        53,194       $            -0-
                                                                 ===============       ===============

</TABLE>















          See accompanying notes to consolidated financial statements.

                                        7

<PAGE>


NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

1.   Basis of Presentation

     Harrodsburg  First  Financial  Bancorp,  Inc.  ("Company"  or  "HFFB") is a
     corporation  organized  under the laws of Delaware.  On July 15, 2001,  the
     Company converted to a bank holding company.  The activities of the Company
     are primarily  limited to holding stock in two banks,  First Financial Bank
     ("First  Financial"),  a wholly-owned  subsidiary,  and Citizens  Financial
     Bank, Inc. ("Citizens"),  in which the Company acquired a 55.8% interest on
     July 15, 2001. In addition, on December 31, 2002, the Company finalized the
     purchase  of a  22.53%  interest  in  Independence  Bancorp  of New  Albany
     ("Independence"),  which is  accounted  for  using  the  equity  method  of
     accounting.  Independence  is a bank  holding  company,  which has one bank
     subsidiary.

     The  accompanying  unaudited  consolidated  financial  statements have been
     prepared  in  accordance  with  generally  accepted  accounting  principles
     ("GAAP") for interim  financial  information  and with the  instructions to
     Form  10-Q and  Article  10 of  Regulation  S-X.  Accordingly,  they do not
     include all of the information and footnotes  required by GAAP for complete
     financial  statements.  In  the  opinion  of  management,  all  adjustments
     (consisting  of  only  normal  recurring   accruals)   necessary  for  fair
     presentation  have been included.  The results of operations and other data
     for the  three-month  period ended  December  31, 2002 are not  necessarily
     indicative  of results  that may be  expected  for the entire  fiscal  year
     ending September 30, 2003.

2.   Purchase of Interest in Bank Holding Company

     On December 31, 2002, the Company  acquired  200,000 shares of common stock
     in  Independence  Bancorp  of New  Albany  at a cost of $10 per share for a
     total purchase price of $2,000,000.  The Company owns a 22.53%  interest in
     Independence and the transaction  resulted in the Company  recording a core
     deposit  intangible asset of $265,872.  This intangible asset is the excess
     of the purchase price of $2.0 million over the Company's  interest acquired
     in the  consolidated  book value of Independence at December 31, 2002. This
     intangible  asset will be  amortized  over its expected  useful  life.  The
     consolidated  assets and  stockholders'  equity of Independence at December
     31, 2002 amounted to $89.6 million and $7.7 million, respectively.

3.   Treasury stock

     The Company  repurchased a total of 5,900 shares of common stock at a total
     price of $77,697 during the three months ended December 31, 2002.

4.   Consolidated Income Statement

<TABLE>
<CAPTION>
                                                    Three Months Ended December 31, 2002
                                       ------------------------------------------------------------
                                                                               ELIMINA-    CONSOLI-
                                          HFFB          FFB          CFB         TIONS      DATED
                                       ----------    ---------     --------    --------    --------

<S>                                   <C>           <C>           <C>        <C>         <C>
     Net interest income                $    12       $   896       $  190     $   (12)    $  1,086
     Provision for loan losses                -             -          (29)          -          (29)
       Non-interest income                  333           235           40        (333)         275
       Non-interest expense                 (46)         (615)        (215)         12         (864)
       Income tax expense                    11          (175)           -           -         (164)
       Minority interest                      -             -            -           6            6
                                        -------       -------       ------     -------     --------

                                        $   310       $   341       $  (14)       (327)    $    310
</TABLE>

                                                             8

<PAGE>

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

Forward Looking Statements

The  Company  may  from  time  to time  make  written  or oral  "forward-looking
statements",  including  statements  contained in the Company's filings with the
Securities and Exchange  Commission  (including  this  Quarterly  Report on Form
10-QSB and the exhibits  thereto),  in its reports to stockholders  and in other
communications  by the  Company,  which  are made in good  faith by the  Company
pursuant to the "safe  harbor"  provision of the Private  Securities  Litigation
Reform Act of 1995.

These  forward-looking  statements  involve  risks that  uncertainties,  such as
statements  of the  Company's  plans,  objectives,  expectations,  estimates and
intentions, that are subject to changes based on various important factors (some
of which are beyond the Company's control). The following factors, among others,
could cause the Company's  financial  performance to differ  materially from the
plans,  objectives,  expectations,  estimates and  intentions  expressed in such
forward-looking statements: the Strength of the United States economy in general
and the strength of the local economy in which the Company conducts  operations;
the effects of, and changes in,  trade,  monetary and fiscal  policies and laws,
including  interest  rate  policies  of the board of  governors  of the  federal
reserve system, inflation, interest rates, market and monetary fluctuations; the
timely development of and acceptance of new products and services of the Company
and the  perceived  overall  value of these  products  and  services  by  users,
including the features,  pricing and quality  compared to competitors'  products
and services;  the willingness of users to substitute  competitors' products and
services for the Company's products and services;  the success of the Company in
gaining  regulatory  approval of its products and services,  when required;  the
impact of changes in financial  services' laws and  regulations  (including laws
concerning taxes,  banking,  securities and insurance);  technological  changes;
acquisitions;  changes in consumer spending and savings habits;  and the success
of the Company at managing the risks resulting from these factors.

The Company cautions that the listed factors are not exclusive. The Company does
not undertake to update any forward-looking statement,  whether written or oral,
that may be made from time to time by or on behalf of the Company.

Recent Legislation to Curtail Corporate Accounting Irregularities

On July 30, 2002,  President Bush signed into law the Sarbanes-Oxley Act of 2002
(the "Act"). The Securities and Exchange  Commission (the "SEC") has promulgated
certain regulations  pursuant to the Act and will continue to propose additional
implementing  or clarifying  regulations as necessary in furtherance of the Act.
The  passage  of the Act  and the  regulations  implemented  by the SEC  subject
publicly-traded   companies  to  additional   and  more   cumbersome   reporting
regulations   and  disclosure.   Compliance  with  the  Act  and   corresponding
regulations may increase the Company's expenses.

Financial Condition

The Company's consolidated assets increased  approximately $1.6 million, or 1.1%
to $154.7  million at December 31, 2002 compared to $153.1  million at September
30,  2002.  The  increase in assets of $1.6  million was funded  primarily by an
increase in deposits of $5.4 million net of $4.0 million used to repay  advances
from the Federal Home Loan Bank.


                                        9

<PAGE>

Securities  available-for-sale  increased  $1.3  million  to  $18.5  million  at
December  31,  2002.  The  increase of $1.3 million is due to a purchase of U.S.
Government Agency backed securities  totaling $3.6 million,  the increase in the
unrealized fair value of these securities totaling $300,000,  offset by the sale
of  mortgage   derivative   securities   totaling   $2.6   million.   Securities
held-to-maturity decreased $1.0 million to $1.2 million at December 31, 2002 due
to the maturity of two $500,000 U.S. Government Agency bonds.

Loans  receivable,  net decreased $3.4 million to $110.0 million at December 31,
2002. Net loans for First Financial decreased $5.1 million,  which was offset in
part by a net  increase in loans for Citizens of $1.7  million.  The decrease of
$5.1 million in loans for First  Financial was primarily due to the repricing of
loans and the  refinancing  of loans by  customers  resulting  from the  current
interest  rate  environment.  The increase in loans for Citizens of $1.7 million
represents  management's  efforts to increase  loan growth in the Bank's  market
area.

The  investment  in  Independence  Bancorp of New Albany  for $1.7  million  was
purchased  on December  31,  2002.  The Company  paid $2.0  million for a 22.53%
interest in Independence,  which resulted in approximately  $300,000 recorded as
an intangible asset identified as core deposit value.

Total interest bearing  liabilities  increased $1.4 million to $128.3 million at
December  31, 2002  compared to $126.9  million at  September  30,  2002.  Total
deposits for First Financial increased $2.6 million during this period while the
total deposits of Citizens increased $2.8 million.  The $5.4 million increase in
interest-bearing  deposits  was  offset  by the  repayment  of $4.0  million  in
advances from the Federal Home Loan Bank.

Stockholders'  equity was $22.5  million at December  31,  2002,  an increase of
approximately  $500,000 from the balance at September 30, 2002.  The increase in
stockholders'  equity  was due to net income of  $310,000,  an  increase  in net
unrealized gains on  available-for-sale  securities of $199,000 plus an increase
of $39,000  from the release of ESOP  shares,  offset in part by the purchase of
Company stock totaling $78,000.

Net Income

Net income increased $201,000, or 183.4%, to $310,000 for the three months ended
December  31,  2002  compared to the same period in 2001.  Net  interest  income
increased $138,000,  non-interest income increased $203,000,  and the provisions
for loan losses decreased  $13,000,  which were offset by an increase of $26,000
in  non-interest  expense,  an  increase  of $57,000 in income tax expense and a
decrease of $70,000 in Citizens' loss.

Net Interest Income

Net  interest  income for the three  months  ended  December  31,  2002 was $1.1
million.  The increase in net interest  income of $138,000 in the quarter  ended
December  31, 2002  compared to the same period in 2001 was due to a decrease in
interest expense of $235,000,  partially offset by a decrease in interest income
of $97,000.  Interest income in the 2002 period was $2.2 million with an average
yield of 5.69%  compared to $2.3 million  with an average  yield of 6.62% in the
2001  period.  Interest  expense  in the 2002  period was $1.1  million  with an
average rate paid of 3.36% compared to $1.3 million with an average rate paid of
4.59% in the 2001 period.



                                       10

<PAGE>


Interest Income

Interest income was $2.2 million,  or 5.69% of average  interest-earning  assets
for the three months ended December 31, 2002 compared to $2.3 million,  or 6.62%
of average  interest-earning assets for the same period in 2001. The decrease in
interest  income of $97,000  was due to the  reduced  yields  from lower  market
interest  rates earned in 2002 compared to 2001 offset in part by an increase in
the average balance of  interest-earning  assets in 2002. The average balance of
interest-earning  assets was  $151.9  million in the three  month  period  ended
December 31, 2002 compared to $136.6 million for this same period in 2001.

Interest Expense

Interest  expense  was  $1.1  million,  or  3.36%  of  average  interest-bearing
liabilities  for the three  months  ended  December  31,  2002  compared to $1.3
million, or 4.59% of average interest-bearing liabilities for the same period in
2001.  The decrease in interest  expense of $235,000 was due to the reduction in
the rates paid on the average  interest-bearing  liabilities in 2002 compared to
2001,  offset in part by an increase in the average balance of  interest-bearing
liabilities in 2002. The average  balance of  interest-bearing  liabilities  was
$128.2  million in the three month  period ended  December 31, 2002  compared to
$114.2 million for the same period in 2001.

Provision for Losses on Loans

The provision  for losses is charged to operations to bring the total  allowance
for loan losses to a level that  represents  management's  best  estimate of the
losses inherent in the portfolio based on:

-     Historical experience;
-     Volume;
-     Type of lending;
-     Industry standards;
-     The level and status of past due and  non-performing  loans;
-     The general and local economic  conditions;  and
-     Other factors affecting the collectibility of the loans in the portfolio.

For the three months ended  December 31,  2002,  the  provision  for loan losses
decreased by $12,900 to $29,100 compared to $42,000 for the same period in 2001.
The  provision  in 2002 of  $29,100  was  related  to the  continued  growth  of
Citizens' loan portfolio, which increased by a net $1.7 million during the three
month period ended  December 31, 2002.  The loan  portfolio for First  Financial
decreased  by a net  $5.1  million  in the 2002  period,  and no  change  in the
allowance  for loan losses  related to the First  Financial  loan  portfolio was
deemed necessary by management.

The  allowance  for  loan  losses  is  maintained  at a  level  that  represents
management's best estimates of losses in the loan portfolio at the balance sheet
date.  However,  there can be no assurance that the allowance for losses will be
adequate  to  cover  losses,  which  may be  realized  in the  future  and  that
additional provisions for losses will not be required.


                                       11
<PAGE>


Non-interest Income

Non-interest income was $275,000 and $72,000 for the quarters ended December 31,
2002 and 2001, respectively.  Other non-interest income increased by $196,000 to
$204,000  in  2002,  primarily  due to a  $118,000  gain on the  sale  by  First
Financial of branch  facilities  which were replaced by new  facilities in 2001.
The increase in  non-interest  income was also  attributable to increases in the
Company's bank owned life  insurance cash value increase of $44,000,  and a gain
of $18,000 on the sale of available-for-sale securities.

Non-Interest Expense

Non-interest  expense increased  approximately  $26,000, or 3.1% to $864,000 for
the three month period ended December 31, 2002 compared to $838,000 for the same
period in 2001. Other non-interest  expense increased $30,000,  primarily due to
$24,000  in  legal  expenses  incurred  in  connection  with the  investment  in
Independence Bancorp of New Albany.
























                                       12

<PAGE>


Non-Performing Assets

The following table sets forth information with respect to non-performing assets
at the dates indicated.  No loans were recorded as restructured loans within the
meaning of SFAS No. 15 at the dates indicated.

<TABLE>
<CAPTION>
                                                                             December 31,          September 30,
                                                                                 2002                  2002
                                                                           ---------------        ---------------
                                                                                   (amounts in thousands)
<S>                                                                      <C>                    <C>
Loans accounted for on a non-accrual basis:(1)
  Real Estate:
      Residential...............................................           $             -        $            41
                                                                           ---------------        ---------------
Total       ....................................................                         -                     41
                                                                           ---------------        ---------------
Accruing loans which are contractually past due 90 days or more:
  Real Estate:
      Residential...............................................                       231                    217
      Other ....................................................                                                5
      Consumer..................................................                       496                    112
                                                                           ---------------        ---------------
Total       ....................................................                       727                    334
                                                                           ---------------        ---------------
Total of non-accrual and 90 day past due loans                             $           727        $           375
                                                                           ===============        ===============
Percentage of net loans                                                               .66%                   .33%
                                                                           ===============        ===============
Other non-performing assets(2)                                             $            69         $          233
                                                                           ===============        ===============
</TABLE>


At December 31, 2002,  there were no loans in non-accrual  status.  Accordingly,
all income  earned for the nine months  ended  December 31, 2002 on the loans in
the table above, has been included in income.

At December 31, 2002, there were no loans  identified by management,  which were
not reflected in the preceding  table, but as to which known  information  about
possible credit problems of borrowers  caused  management to have serious doubts
as to the ability of the borrowers to comply with present loan repayment terms.

The actual capital and the related capital levels as defined by the OTS and FDIC
based on the accompanying  consolidated  financial statements are as follows (in
thousands):

<TABLE>
<CAPTION>

                                                                            December 31, 2002
                                                           -----------------------------------------------------
                                                               First Financial                Citizens
                                                           -------------------------  --------------------------
                                                              Amount        %            Amount         %
                                                           -------------------------  --------------------------
<S>                                                      <C>            <C>         <C>            <C>
     Total risk-based capital (to risk-weighted assets)    $13,512        20.60%      $3,968         18.36%
              Tier I capital (to risk-weighted assets)     $13,129        20.02%      $3,738         17.30%
              Tier I capital (to adjusted total assets)    $13,129        11.18%      $3,738         18.36%
</TABLE>
----------------------------

     (1)  Non-accrual  status  denotes  any loan past due 90 days and whose loan
     balance,  plus  accrued  interest,   exceeds  90%  of  the  estimated  loan
     collateral  value.  Payments  received  on a  non-accrual  loan are  either
     applied to the  outstanding  principal  balance  or  recorded  as  interest
     income, or both, depending on assessment of the collectibility of the loan.

     (2)  Other  non-performing   assets  represent  property  acquired  through
     foreclosure or repossessions  accounted for as a foreclosure  in-substance.
     This property is carried at the fair market of the property  value,  net of
     selling expenses.

                                       13

<PAGE>

<TABLE>
<CAPTION>
                                                                            September 30, 2002
                                                           -----------------------------------------------------
                                                               First Financial                Citizens
                                                           -------------------------  --------------------------
                                                              Amount        %            Amount         %
                                                           -------------------------  --------------------------
<S>                                                        <C>            <C>         <C>            <C>
     Total risk-based capital (to risk-weighted assets)    $14,485        21.11%      $3,994         19.68%
              Tier I capital (to risk-weighted assets)     $14,102        20.55%      $3,752         18.49%
              Tier I capital (to adjusted total assets)    $14,102        11.67%      $3,752         19.68%
</TABLE>

The Federal  Deposit  Insurance  Corporation  Improvement Act of 1991 ("FDICIA")
required each federal banking agency to implement prompt corrective  actions for
institutions  that it regulates.  In response to this  requirement,  regulations
were adopted requiring banks to meet specified capital  requirements.  The rules
provide that a bank is "well  capitalized" if its total risk-based capital ratio
is 10% or greater,  its Tier 1 risk-based  capital  ratio is 6% or greater,  its
leverage  capital ratio is 5% or greater and the institution is not subject to a
capital directive.  Under these  regulations,  First Financial and Citizens were
deemed to be "well  capitalized" as of December 31, 2002 and September 30, 2002.
There are no  conditions  or events since those  notifications  that  management
believes would change its classifications.

Liquidity

The liquidity of the Company  depends  primarily on the dividends  paid to it by
First  Financial and Citizens.  The payment of cash dividends by First Financial
and Citizens on their common stocks is limited by regulations of the OTS and the
FDIC, which are tied to their level of compliance with their regulatory  capital
requirements.

First  Financial's  and  Citizens'  primary  sources of funds are  deposits  and
proceeds from principal and interest  payments of loans.  Additional  sources of
liquidity are advances from the FHLB of Cincinnati and other borrowings, such as
Federal Funds purchased. At December 31, 2002, First Financial had advances from
the FHLB  totaling  $1.0 million.  First  Financial  utilizes FHLB of Cincinnati
borrowings during periods when management  believes that such borrowings provide
a lower cost source of funds than deposit  accounts and it desires  liquidity in
order to help expand its lending operations.

The Company's operating activities produced positive cash flows for the quarters
ended December 31, 2002 and 2001.

The Company's  most liquid assets are cash and  cash-equivalents,  which include
investments in highly liquid,  short-term investments.  At December 31, 2002 and
September  30, 2002,  cash and cash  equivalents  totaled $15.1 million and $9.6
million, respectively.

At  December  31,  2002,  First  Financial  and  Citizens  had $78.1  million in
certificates  of deposits due within one year and $21.3  million due between one
and three  years.  Management  believes,  based on past  experience,  that First
Financial and Citizens will retain much of the deposits or replace them with new
deposits. At December 31, 2002, First Financial and Citizens had $1.4 million in
outstanding   commitments  to  originate  mortgages,   unused  home  equity  and
commercial lines of credit totaling $3.0 million and available construction loan
draws of $1.7  million.  First  Financial  and  Citizens  intend  to fund  these
commitments with short-term investments and proceeds from loan repayments.


                                       14

<PAGE>

Item 3  Controls and Procedures

     (a)  Evaluation  of  disclosure  controls  and  procedures.  Based on their
evaluation  as of a date  within 90 days of the  filing  date of this  Quarterly
Report  on  Form  10-QSB,  the  Registrant's  principal  executive  officer  and
principal  financial  officer have  concluded that the  Registrant's  disclosure
controls and procedures (as defined in Rules  13a-14(c) and 15d-14(c)  under the
Securities  Exchange Act of 1934 (the  "Exchange  Act")) are effective to ensure
that  information  required to be  disclosed  by the Company in reports  that it
files or submits under the Exchange Act is recorded,  processed,  summarized and
reported within the time periods specified in Securities and Exchange Commission
rules and forms.

     (b) Changes in internal controls.  There were no significant changes in the
Registrant's  internal  controls or in other  factors  that could  significantly
affect these controls subsequent to the date of their evaluation,  including any
corrective  actions  with  regard  to  significant   deficiencies  and  material
weaknesses.



















                                       15


<PAGE>


PART II.  Other Information

Item 1.   Legal Proceedings.................................................None

Item 2.   Changes in Securities.............................................None

Item 3.   Defaults Upon Senior Securities...................................None

Item 4.   Submission of Matters to a Vote of Security Holders...............None

Item 5.   Other Information.................................................None

Item 6.   Exhibits and Reports on Form 8-K

          Number                             Description
          ------       -----------------------------------------------------

          (A)          Exhibit  99.0-Certification  pursuant  to  18  U.S.C.
                       Section 1350,  as adopted  pursuant to Section 906 of
                       the Sarbanes-Oxley Act of 2002.

          (B)          No reports on Form 8-K were filed during the quarter
                       ended December 31, 2002.


















                                       16


<PAGE>


                                   SIGNATURES

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

                    Harrodsburg First Financial Bancorp, Inc.


/s/ Arthur L. Freeman                                          February 11, 2003
--------------------------------------------------------       -----------------
Arthur L. Freeman, President and Chief Executive Officer       Date



/s/ Jack Hood                                                  February 11, 2003
--------------------------------------------------------       -----------------
Jack Hood, Secretary/Treasurer (Chief Accounting Officer)      Date























                          17


<PAGE>

                            SECTION 302 CERTIFICATION


     I, Arthur L. Freeman, President and Chief Executive Officer, certify that:

1.   I have reviewed this quarterly  report on Form 10-QSB of Harrodsburg  First
     Financial Bancorp, Inc.;

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 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  officer 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 functions):

     (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

<PAGE>

6.   The  registrant's  other  certifying  officer and I have  indicated in this
     quarterly  report  whether  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:  February 11, 2003                   /s/ Arthur L. Freeman
       ----------------------              -----------------------------------
                                           Arthur L. Freeman
                                           President and Chief Executive Officer














<PAGE>

                            SECTION 302 CERTIFICATION


     I, Jack D. Hood, Treasurer, certify that:

1.   I have reviewed this quarterly  report on Form 10-QSB of Harrodsburg  First
     Financial Bancorp, Inc.;

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 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  officer 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 functions):

     (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

<PAGE>

6.   The  registrant's  other  certifying  officer and I have  indicated in this
     quarterly  report  whether  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:  February 11, 2003                /s/ Jack D. Hood
       ----------------------           ----------------------------------------
                                        Jack D. Hood
                                        Treasurer
                                        (Chief Financial and Accounting Officer)