SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549
                        --------------------------------

                                   FORM 10-QSB

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

      For the quarterly period ended September 30, 2000

                                                         OR

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

      For the transition period from __________ to __________


                         Commission File Number 0-31125


                              CBCT BANCSHARES, INC.
--------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)



Maryland                                                   74-2957339
------------------------------                   -------------------------------
(State or other jurisdiction                            (I.R.S. Employer
    of incorporation or                                  Identification or
       organization)                                       number)

                  312 Main Street, Smithville, Texas 78957-2035
--------------------------------------------------------------------------------
                    (Address of principal executive offices)


                                 (512) 237-2482
--------------------------------------------------------------------------------
                           (issuer's telephone number)


         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 90 days Yes [ ] No [X]

         Transitional Small Business Disclosure Format  (check one):

                     Yes  [ ] No  [X]

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

         As of November 14, 2000,  there were 281,031 shares of the Registrant's
common stock outstanding.

                                        1

<PAGE>



                              CBCT BANCSHARES, INC.


                                      INDEX


                                                                       PAGE NO.
PART I.           FINANCIAL INFORMATION

Item 1.           Consolidated Financial Statements                      3

                  Consolidated Balance Sheets as of
                  September 30, 2000 and December 31, 1999               3

                  Consolidated Statements of Income
                  for the Three and Nine Months Ended September 30,
                  2000 and 1999                                          4

                  Consolidated Statements of Changes in
                  Equity for the Nine Months Ended September 30,         5
                  2000 and 1999

                  Consolidated Statements of Cash
                  Flows for the Nine Months Ended September 30,
                  2000 and 1999                                          6

                  Notes to Unaudited Consolidated Financial
                  Statements                                             7

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

PART II.          OTHER INFORMATION                                     13

                  Signature Page                                        14



                                        2

<PAGE>



                          PART I: FINANCIAL INFORMATION
                    Item I: Consolidated Financial Statements

                              CBCT Bancshares, Inc.
                           Consolidated Balance Sheets
<TABLE>

                                                              At             At
                                                         September 30,  December 31,
     ASSETS                                                  2000          1999
                                                            ------       --------
                                                         (Unaudited)
                                                           (dollars in thousands)
<S>                                                       <C>             <C>
Cash and non-interest due from banks                     $   209          $  561
Interest bearing due from banks                            3,995           1,692
                                                         -------          ------
  Total cash and cash equivalents                          4,204           2,253

Investment securities to be held to maturity               5,904               -
Investment securities available for sale                   4,444          16,277
Federal Home Loan Bank stock                                 513             497
Loans held for sale                                            -             363
Loans - net of allowance for loan losses                  22,268          21,693
Bank premises and equipment - net                          1,271           1,355
Accrued interest receivable                                  509             253
Prepaid expenses and other assets                             34             142
                                                         -------         -------

                                                         $39,147         $42,833
                                                         =======         =======

     LIABILITIES AND STOCKHOLDERS' EQUITY

   Deposits:
Noninterest bearing                                      $   549         $   377
Interest bearing                                          26,964          31,977
                                                         -------         -------

   Total deposits                                         27,513          32,354

Advances from borrowers for taxes and insurance              369              47
Advances from Federal Home Loan Bank                       5,681           7,392
Accrued interest payable and other liabilities               405              41
                                                         -------         -------

   Total liabilites                                       33,968          39,834
                                                         -------         -------

   Stockholders' Equity:
Preferred Stock, par value $0.01 per share;
   1,000,000 shares authorized; none issued
   and outstanding                                             -               -
Common Stock, par value $0.01 per share;
   4,000,000 shares authorized; 281,031
   shares issued and outstanding                               3               -
Surplus                                                    2,381               -
Retained earnings                                          2,840           3,214
Unallocated ESOP shares                                     (225)              -
Accumulated other comprehensive income (loss)                180            (215)
                                                         -------         -------

   Total equity                                            5,179           2,999
                                                         -------         -------

                                                         $39,147         $42,833
                                                         =======         =======
</TABLE>
           See Notes to Unaudited Consolidated Financial Statements.


                                        3

<PAGE>



                              CBCT Bancshares, Inc.
                        Consolidated Statements of Income
                                   (Unaudited)
<TABLE>

                                                             Three months ended        Nine months ended
                                                               September 30,             September 30,
                                                             2000          1999         2000          1999
                                                             ----          ----         ----          ----
                                                        (dollars in thousands, except per share data)
<S>                                                       <C>             <C>           <C>           <C>
Interest and dividend income:
   Loans                                                  $    509      $    464       $1,500       $1,351
   Debt securities                                             172           294          533          739
   Deposits in banks                                            38            17          162          121
   Dividends                                                     9             8           34           22
                                                          --------      --------       ------       ------
     Total interest and dividend income                        728           783        2,229        2,233
                                                          --------      --------       ------       ------
Interest expense:
   Deposits                                                    320           389          984        1,166
   Federal Home Loan Bank advances                              75            97          254          258
                                                          --------      --------       ------       ------
     Total interest expense                                    395           486        1,238        1,424
                                                          --------      --------       ------       ------

   Net interest income                                         333           297          991          809
Provision for loan losses                                        9             -           25            -
                                                          --------      --------       ------       ------
   Net interest income after loan losses                       324           297          966          809
                                                          --------      --------       ------       ------

Other operating income (losses):
   Service charges and fees                                     58            34          113           83
   Net securities gains (losses)                                (2)          126         (865)         102
   Net gains on sales of loans                                   9            10           17           40
   Gain on sale of other real estate owned                       -             -            -            -
                                                          --------      --------       ------       ------
     Total other operating income (losses)                      65           170         (735)         225
                                                          --------      --------       ------       ------

Operating expenses:
   Compensation and benefits                                   140           133          406           353
   Occupancy and equipment expense                              29            37          124           121
   Other operating expenses                                    106           125          329           360
                                                          --------      --------       ------        ------
     Total other operating expenses                            275           295          859           834
                                                          --------      --------       ------        ------

     Income before income taxes                                114           172         (628)          200

Income tax expense (benefit)                                    36            49         (254)           58
                                                          --------      --------       ------        ------

     Net income (loss)                                    $     78      $    123       $ (374)       $  142
                                                          ========      ========       ======        ======

Basic earnings (loss) per share                           $   0.30           N/A       $(1.45)         N/A
                                                          ========

Weighted average shares outstanding (1)                    258,549           N/A      258,549          N/A
</TABLE>


 (1) CBCT Bancshares'  initial public offering closed on September 25, 2000. For
purposes of earnings per share calculations, shares issued on September 25, 2000
have been assumed to be outstanding as of January 1, 2000.

           See Notes to Unaudited Consolidated Financial Statements.
                                       4
<PAGE>

                              CBCT Bancshares, Inc.
                  Consolidated Statements of Changes in Equity
                                   (Unaudited)
<TABLE>

                                                                                   Unallocated   Accumulated
                                                   Common               Retained      ESOP       Other Comp.
                                                    Stock    Surplus    Earnings     Shares      Income(Loss)   Total
                                                   ------    -------    --------   -----------   ------------   ------
                                                                          (dollars in thousands)
<S>                                                 <C>       <C>         <C>         <C>           <C>          <C>
Nine Months Ended September 30, 2000
Balance, beginning of period (January 1, 2000)     $  -      $    -      $3,214      $   -        $(215)        $2,999
Sale of stock, net of expenses                        3       2,381           -       (225)           -          2,159
Comprehensive income:
   Net income (loss)                                  -           -        (374)         -            -           (374)
   Change in net unrealized loss on securities
     available for sale, net of reclassification
     adjustment and tax effect                        -           -          -           -          395            395
                                                                                                                ------
   Total comprehensive income (loss)                  -           -          -           -            -             21
                                                   ----      ------      ------     ------        -----         ------

Balance, end of period (September 30, 2000)        $  3      $2,381      $2,840     $(225)        $ 180         $5,179
                                                   ====      ======      ======     =====         =====         ======

Nine Months Ended September 30, 1999
Balance, beginning of period (January 1, 1999)     $  - $         -      $3,046     $   -         $ 297  $       3,343
Comprehensive income:
   Net income                                         -           -         142         -             -            142
   Change in net unrealized gain on securities
     available for sale, net of reclassification
     adjustment and tax effect                        -           -           -         -          (505)          (505)
                                                                                                                ------
   Total comprehensive income (loss)                  -           -           -         -             -           (363)
                                                   ----      ------      ------     -----         -----         ------

Balance, end of period (September 30, 1999)        $  -      $    -      $3,188     $   -         $(208)        $2,980
                                                   ====      ======      ======     =====         =====         ======
</TABLE>


           See notes to unaudited consolidated financial statements.


                                        5

<PAGE>



                              CBCT Bancshares, Inc.
                      Consolidated Statements of Cash Flows
                                   (Unaudited)
<TABLE>

                                                                  Nine months ended
                                                                    September 30,
                                                                  2000         1999
                                                                  ----         ----
                                                                (dollars in thousands)
<S>                                                            <C>            <C>
Cash Flows From Operating Activities
Net income (loss)                                             $  (374)       $  142
Adjustments to reconcile net income to net cash
   provided by operating activities:
     Depreciation and amortization                                 71            85
     Net securites losses (gains)                                 865          (102)
     Provision for loan losses                                     25            -
     Deferred income taxes                                       (143)            9
     Stock dividend income                                        (16)          (19)
     Net change in:
       Loans held for sale                                        363           123
       Accrued interest receivable and other assets                (5)          (86)
       Accrued interest payable and other liabilities             483          (260)
                                                              -------        ------
          Net cash provided by operating activities             1,269          (108)
                                                              -------        ------

Cash Flows From Investing Activities
Activity in available-for-sale securities:
   Sales                                                       15,211           329
   Maturities and prepayments                                     372         1,942
   Purchases                                                   (4,017)       (4,227)
Activity in held-to-maturity securities:
   Maturities and prepayments                                     273         1,445
   Purchases                                                   (6,177)       (4,854)
Loan originations and collections - net                          (600)       (1,111)
Sales of fixed assets                                              32             -
Capital expenditures                                              (19)          (42)
                                                              -------        ------
          Net cash provided by (used in) investing activities   5,075        (6,518)
                                                              -------        ------

Cash Flows From Financing Activities
Net change in deposits                                         (4,842)        1,292
Issuance of common stock                                        2,585             -
Expenses of stock offering                                       (425)            -
Proceeds of Federal Home Loan Bank advances                         -         4,000
Repayment of Federal Home Loan Bank advances                   (1,711)         (377)
                                                              -------        ------
          Net cash provided by (used in) financing activities  (4,393)        4,915
                                                              -------        ------

          Net increase in cash and cash equivalents             1,951        (1,711)

Cash and cash equivalents - beginning of period                 2,253         2,950
                                                               ------        ------

Cash and cash equivalents - end of period                      $4,204        $1,239
                                                               ======        ======
</TABLE>


           See Notes to Unaudited Consolidated Financial Statements.

                                       6

<PAGE>
                              CBCT BANCSHARES, INC.

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS



1.  General

CBCT Bancshares, Inc. (the Company) was organized in March 2000 at the direction
of  Community  Bank of Central  Texas,  Inc.  (the  Bank) to acquire  all of the
capital stock that the Bank would issue upon its  conversion  from the mutual to
stock form of  ownership.  The  conversion  was  completed on September 25, 2000
through the sale and  issuance of 281,031  shares of common stock by the Company
at a price of $10.00 per share. Information set forth in this report relating to
periods prior to the Conversion, including consolidated financial statements and
related  data,  relates  to  Community  Bank  of  Central  Texas,  Inc.  and its
wholly-owned (inactive) subsidiary, Central State Service Corporation.

The  accompanying  consolidated  financial  statements  of the Company have been
prepared in accordance with instructions to Form 10-Q. Accordingly,  they do not
include all of the  information  and  footnotes  required by generally  accepted
accounting   principles  for  complete  financial   statements.   However,  such
information  reflects all  adjustments  (consisting  solely of normal  recurring
adjustments)  which are,  in the  opinion of  management,  necessary  for a fair
statement of results for the interim periods.

The results of operations  for the nine months ended  September 30, 2000 are not
necessarily  indicative  of the  results  to be  expected  for the  year  ending
December 31, 2000.  The  consolidated  financial  statements  and notes  thereto
should be read in conjunction with the Bank's audited  financial  statements and
notes thereto for the year ended December 31, 1999.

2.  Earnings Per Share

Earnings per share has been  computed for the nine months  ended  September  30,
2000 based upon weighted average common shares  outstanding of 258,549.  For the
purpose of computing  weighted  average shares  outstanding  for the nine months
ended September 30, 2000,  shares issued in the Conversion on September 25, 2000
were assumed to have been outstanding since January 1, 2000.  Earnings per share
for the nine months ended  September  30, 1999 is not  presented as there was no
common stock issued or outstanding.

3.  Investment Securities

The amortized cost and  approximate  fair values of investment  securities to be
held to maturity and  available  for sale at September 30, 2000 and December 31,
1999 are as follows (dollars in thousands):


                                        7

<PAGE>




              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Continued)
<TABLE>
Investment securities to be held to maturity:
                                                                                 September 30,2000
                                                                Amortized       Unrealized      Approximate
                                                                   Cost         Gain (Loss)     Fair Value
                                                               ----------      ------------     ------------
<S>                                                                <C>             <C>              <C>
Debt securities:
   U.S. Treasury securities                                      $   --           $ --            $   --
   Government agencies                                            2,987              1             2,988
   State and municipal                                               --             --                --
   Collateralized mortgage obligations                            2,917             (6)            2,911
Marketable equity securities                                         --             --                --
                                                                 ------            ---             ------
                                                                 $5,904            $(5)            $5,899
                                                                 ======            ===             ======
</TABLE>


There were no investment securities to be held to maturity at December 31, 1999.
<TABLE>
Investment securities available for sale:
                                                                                September 30, 2000
                                                                  Amortized       Unrealized        Approximate
                                                                     Cost         Gain (Loss)       Fair Value
                                                                 ----------     -------------       -----------
<S>                                                                <C>              <C>                 <C>
Debt securities:
   U.S. Treasury securities                                      $   --             $ --              $   --
   Government agencies                                            2,989                9               2,998
   State and municipal                                              110                3                 113
   Mortgage-backed                                                1,064                3               1,067
Marketable equity securities                                          5              261                 266
                                                                 ------             ----              ------
                                                                 $4,168             $276              $4,444
                                                                 ======             ====              ======
</TABLE>

<TABLE>
                                                                               December 31, 1999
                                                                  Amortized       Unrealized      Approximate
                                                                     Cost         Gain (Loss)     Fair Value
                                                                  ---------       -----------     ----------
<S>                                                                <C>               <C>               <C>
Debt securities:
   U.S. Treasury securities                                      $    --           $  --              $    --
   Government agencies                                                --              --                   --
   State and municipal                                               145               3                  148
   Mortgage-backed                                                16,452            (554)              15,898
Marketable equity securities                                           5             226                  231
                                                                 -------           -----              -------
                                                                 $16,602           $(325)             $16,277
                                                                 =======           =====              =======
</TABLE>



4.  Other Cash Flow Information

Other cash flow  information  for the nine months ended  September  30, 2000 and
1999 is as follows (dollars in thousands):
<TABLE>

                                                                  2000          1999
                                                                 ------        ------
<S>                                                              <C>            <C>
Interest paid in cash                                            $1,242         $1,428
                                                                 ======         ======

Income taxes paid in cash                                        $    -         $   98
                                                                 ======         ======
</TABLE>
                                       8
<PAGE>

                          PART I: FINANCIAL INFORMATION

                              CBCT BANCSHARES, INC.

                Management's Discussion and Analysis of Financial
                       Condition and Results of Operations


General

The following  discussion is intended to assist in  understanding  the financial
condition  and results of operations of CBCT  Bancshares,  Inc. The  information
contained in this section  should be read in conjunction  with the  consolidated
financial  statements  and the  accompanying  notes  to  consolidated  financial
statements contained in this Form 10-QSB.

CBCT  Bancshares,  Inc.'s  results of  operations  depend  primarily  on its net
interest   income,   which  is  the  difference   between   interest  income  on
interest-earning  assets, which principally consist of loans and mortgage-backed
and investment securities, and interest expense on interest bearing liabilities,
which principally  consist of deposits and borrowings.  CBCT Bancshares,  Inc.'s
results of operations also are affected by the level of its non-interest  income
and expenses and income tax expense.

Forward-Looking Statements

When used in this Form  10-QSB and in future  filings by us with the  Securities
and Exchange  Commission  in our press  releases or other public or  shareholder
communications,  and in oral  statements made with the approval of an authorized
executive  officer,  the  words  "believe,"  "expect,"  "intend,"  "anticipate,"
"estimate," "project," or similar words are intended to identify forward-looking
statements.  Our ability to predict results or the actual effect of future plans
or strategies is uncertain.  Factors which could have a material  adverse effect
on our operations  include,  but are not limited to, changes in interest  rates,
general economic conditions, legislative/regulatory changes, monetary and fiscal
policies of the U.S. Government, including policies of the U.S. Treasury and the
Federal  Reserve  Board,  the quality or  composition  of the loan or investment
portfolios,  demand for loan products,  deposit flows,  competition,  demand for
financial services in our market areas and accounting principles and guidelines.
These risks and uncertainties should be considered in evaluating forward-looking
statements and you should not rely too much on these statements.

Changes in Financial Condition from December 31, 1999, to September 30, 2000

General

Total  assets  decreased  by  approximately  $3.7  million  to $39.1  million at
September  30, 2000 from $42.8  million at December  31,  1999.  The decrease in
total assets resulted primarily from the liquidation of low yielding  securities
in the first quarter of 2000 to take advantage of a restructuring opportunity in
the investment  portfolio.  The restructuring was an asset/liability  management
decision  to  improve  future  interest  rate risk  exposure.  A portion  of the
proceeds from this  restructuring  was used to fund deposit  outlfows  resulting
from  management's  decision to reduce the  interest  rates paid on certain time
deposits.  As a result,  time deposits were decreased by $4.4 million during the
period.  The  increase  in loans,  to $22.3  million  from  $21.7  million,  was
attributed to the continued growth of loan demand in the Bank's market area.

                                        9

<PAGE>





The  allowance  for loan losses at September  30, 2000  increased to $223,000 or
 .99% of total loans,  from the December 31, 1999 amount of $199,000,  or .91% of
total  loans.  The  increase  was due to loan  loss  provisions  exceeding  loan
charge-offs  during the period.  Loan loss provisions have been increased due to
the increasing volume of loans along with a slight change in the mix of the loan
portfolio to one with a higher volume of commercial loans.  Non-performing loans
were $26,000 at September 30, 2000 compared to $68,000 at December 31, 1999.

Total  deposits  decreased by  approximately  $4.9 million,  to $27.5 million at
September  30, 2000 from $32.4  million at December 31,  1999.  The decrease was
attributed  to a reduction  in the  interest  rate paid on  deposits  during the
period  ended  September  30, 2000,  resulting in an outflow of higher  interest
bearing deposits. Federal Home Loan Bank advances decreased by $1.7 million as a
result of repayments on the advances.

Total  equity  increased  by  approximately  $2.2  million  to $5.2  million  at
September  30, 2000,  from $3.0  million at December  31, 1999.  The increase in
equity  was  primarily  attributed  to the  infusion  of net  proceeds  from the
Company's  stock offering in connection with the conversion of Community Bank of
Central Texas, ssb. to stock form, partially offset by the losses resulting from
the sale of the securities portfolio.

Comparison of Results of  Operations  for the Three Months and Nine Months Ended
September 30, 1999 and 2000

Net Interest Income

Net  interest  income for the quarter  ended  September  30, 2000 was  $333,000,
compared to $297,000 for the quarter  ended  September  30, 1999, an increase of
$36,000.  Net interest  income for the nine months ended  September 30, 2000 was
$991,000,  compared to $809,000 for the nine months ended September 30, 1999, an
increase of $182,000.  The increase was  attributed to higher yields and volumes
of loans as well as the decrease in total interest  expense  resulted  primarily
from the decrease in time deposits of $4.4 million.

Other Operating Income

Other  operating  income for the quarter  ended  September 30, 2000 was $65,000,
compared to $170,000 for the quarter ended  September 30, 1999.  The decrease in
2000  was  primarily  attributed  to a one  time  realized  gain on the  sale of
securities  in the amount of $126,000 in the quarter  ended  September  30, 1999
with no similar transaction occurring in the 2000 period. Other operating income
for the nine months ended September 30, 2000 was $(735,000) compared to $225,000
for the nine months ended  December 31,  1999.  The decrease in other  operating
income for the nine months ended  September  30, 2000 was  primarily  due to the
$865,000 in realized losses on sales of investment  securities  occurring during
that period.


                                       10

<PAGE>



Other Operating Expenses

Other operating expenses for the quarter ended September 30, 2000 were $275,000,
compared to $295,000 for the quarter  ended  September  30,  1999.  For the nine
months ended September 30, 2000, other operating expenses were $859,000 compared
to $834,000 for the same nine months ended  September 30, 1999.  The increase is
primarily attributed to compensation  expense,  which increased due to increased
personnel.

Liquidity and Capital Resources

We are required to maintain minimum levels of investments that qualify as liquid
assets  under  government  regulations.   Liquidity  may  increase  or  decrease
depending upon the  availability of funds and comparative  yields on investments
in  relation to the return on loans.  Historically,  we have  maintained  liquid
assets at levels above the minimum  requirements and above levels believed to be
adequate to meet the  requirements  of normal  operations,  including  potential
deposit  outflows.  Cash flow projections are regularly  reviewed and updated to
assure that  adequate  liquidity  is  maintained.  At September  30,  2000,  our
regulatory  liquidity  ratio,  which is our  liquid  assets as a  percentage  of
deposits  and  current  borrowings,  was  48.29%.  It is  anticipated  that  our
liquidity  ratio will decrease in future periods as we deploy  proceeds from the
stock offering into loan originations, as they become available.

Consistent   with  our  goal  to  operate  a  sound  and  profitable   financial
organization,  we actively seek to maintain a "well capitalized"  institution in
accordance with regulatory standards. Total equity was $5.2 million at September
30, 2000 or 13.30% of total assets on that date.  As of September  30, 2000,  we
exceeded  all capital  requirements  of the FDIC and the Texas  Savings and Loan
Department.  Our  consolidated  regulatory  capital ratios at September 30, 2000
were as follows:  core capital 12.77%;  Tier I risk-based  capital,  23.67%; and
total risk-based  capital,  25.27%.  The regulatory  capital  requirements to be
considered well capitalized are 5.0%, 6.0%, and 10.0%, respectively.

Quantitative and Qualitative Disclosures About Market Risk

The rates of interest  we earn on assets and pay on  liabilities  generally  are
established  contractually  for a period of time.  Market  interest rates change
over  time.  Our loans  generally  have  longer  maturities  than our  deposits.
Accordingly,   our  results  of  operations,   like  those  of  other  financial
institutions,  are impacted by changes in interest  rates and the interest  rate
sensitivity of our assets and  liabilities.  The risk associated with changes in
interest  rates and our  ability to adapt to these  changes is known as interest
rate risk and is our most significant market risk. As of September 30, 2000, our
one-year  cumulative  interest  rate  sensitivity  gap as a percentage  of total
assets was a negative 34.54%,  which generally means if interest rates rise, our
net interest income could be reduced because  interest paid on  interest-bearing
liabilities, including deposits and borrowings, could increase more quickly than
interest   received   on   interest-earning    assets,   including   loans   and
mortgage-backed and investment  securities.  In addition,  rising interest rates
may hurt our income  because  they may reduce the demand for loans and the value
of our  mortgage-related  and  investment  securities.  In the  alternative,  if
interest rates decrease, our net interest income would increase.

                                       11

<PAGE>



How We Measure Our Risk of Interest Rate Change

During the three months  ended March 31, 2000,  in order to improve our interest
rate  risk  position,  we  sold  most  of  our  existing  investment  securities
portfolio. This resulted in a significant improvement in our one-year cumulative
interest rate  sensitivity gap, from a negative 46.03% at December 31, 1999 to a
negative  34.54% at September 30, 2000. It also  increased  our  flexibility  to
invest in other assets,  including  investment  securities and loans, at current
yields and shorter terms to maturity.



                                       12

<PAGE>



                           PART II. OTHER INFORMATION

                              CBCT BANCSHARES, INC.

Item 1 - Legal Proceedings

         Not applicable.

Item 2 - Changes in Securities

         Not applicable.

Item 3 - Defaults upon Senior Securities

         Not applicable.

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

         None.

Item 5 - Other Information

         None.

Item 6 - Exhibits and Reports on Form 8-K

         (a)   Exhibits - Exhibit 27 - Financial Data Schedule.

         (b)   Reports on Form 8-K - None.


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                                   SIGNATURES

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

                                        CBCT BANCSHARES, INC.
                                        Registrant




Date: November 14, 2000                 /s/ Brad M. Hurta
      -----------------                 ---------------------------------------
                                        Brad M. Hurta
                                        President and Chief Executive Officer



Date: November 14, 2000                 /s/ Lynn Frerich
      -----------------                 ---------------------------------------
                                        Lynn Frerich
                                        Vice President, Chief Operating Officer
                                        and Secretary


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