UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 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, 2002

                                       Or

 __      Transition report pursuant to Section 13 or 15(d) of the Exchange Act

                        Commission File Number 000-49781

                          First Security Bancorp, Inc.
        (Exact Name of Small Business Issuer as Specified in Its Charter)

     Kentucky                                               61-1364206
 (State of other jurisdiction                            (I.R.S. Employer
  incorporation or organization)                         identification No.)

318 East Main Street, Lexington,  Ky   40507
(Address of Principal Executive Offices)
(859) 367-3700
(Issuer's Telephone Number, Including Area Code)

Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or 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.

                                  X Yes ___ No

The number of shares outstanding of each of the issuer's classes of common
equity as of the latest practicable date: Common stock, no par value - 1,456,250
shares outstanding as of November 14, 2002.

Transitional Small Business Disclosure Format (check one):
                                            ___ Yes   X   No


<PAGE>


FIRST SECURITY BANCORP, INC.
TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.................................................3
              Consolidated Balance Sheets.....................................3
              Consolidated Statements of Income...............................5
              Consolidated Statement of Changes in Shareholders' Equity.......7
              Consolidated Statements of Cash Flows...........................8
              Notes to Consolidated Financial Statements ....................10

Item 2.  Management's Discussion and Analysis or Plan of Operation...........13

Item 4:  Controls and Procedures ............................................20

PART II -OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K....................................20
              Signatures.....................................................20
              Certifications Pursuant to Section 302 of the
              Sarbanes-Oxley Act of 2002.....................................21
              Exhibit Index..................................................23



<PAGE>



PART I - FINANCIAL INFORMATION
Item 1. Financial Statements

                          First Security Bancorp, Inc.
                     Consolidated Balance Sheets (Unaudited)
                                 (in thousands)


Assets                                       September 30,         December 31,
                                                 2002                  2001

Cash and due from banks                      $  4,706              $  4,521
Federal funds sold                              1,168                 4,397
                                           ----------            ----------
         Total cash and cash equivalents        5,874                 8,918
Securities available for sale                  52,335                32,309
Mortgage loans held for sale                    4,172                     0
Loans                                         160,227               152,422
         Less allowance for loan losses        (1,675)               (1,538)
                                           ----------             ----------
Net loans                                     158,552               150,884
FHLB stock                                        729                   539
Leasehold improvements, premises
         and equipment, net                     7,993                 7,656
Accrued interest receivable                     1,164                 1,133
Other assets                                      693                   831
                                           ----------             ---------
         Total Assets                        $231,512              $202,270
                                               ======                ======
Liabilities and Shareholders' Equity

Liabilities
         Deposits
Non-interest bearing                         $ 19,218              $ 12,575
Time deposits $100,000 and over                46,844                44,498
Other interest bearing                        120,380               111,671
                                         ------------         -------------
         Total Deposits                       186,442               168,744
Repurchase agreements and
         short-term borrowings                 11,047                12,957
Federal Home Loan Bank advances                14,271                 2,336
Accrued interest payable                          608                   832
Other liabilities                                 434                   574
                                         ------------         -------------
         Total Liabilities                  $ 212,802             $ 185,443

Shareholders' Equity

Common stock, no par value                      8,385                 8,385
Paid-in capital                                 8,385                 8,385
Retained earnings                               1,340                   383
Accumulated other comprehensive
   income, net of tax                             600                  (326)
                                             --------              ---------
         Total Shareholders' Equity            18,710                16,827
                                             --------              ---------
Total Liabilities and Shareholders' Equity   $231,512              $202,270
                                               ======                ======


<PAGE>



                          First Security Bancorp, Inc.
                  Consolidated Statements of Income (Unaudited)
                      (in thousands, except per share data)

<TABLE>
<CAPTION>

                                                  Three Months Ended                   Nine Months Ended
                                                      September 30,                     September 30,
                                                2002              2001             2002              2001

Interest Income
<S>                                          <C>                <C>              <C>              <C>

Loans, including fees                        $  2,822           $ 2,827          $  8,365         $  7,792
Securities- taxable                               390               230             1,080              713
Securities- nontaxable                            138               110               471              185
Federal funds sold                                 13                21                28              185
Other                                               9                 7                23               30
                                                3,372             3,195             9,967             8,90
Interest Expense

Deposits                                        1,562             1,854             4,976            5,323
Other Borrowings                                  156                90               364              196
                                                1,718             1,944             5,340            5,519

Net Interest Income                             1,654             1,251             4,627            3,386

Provision for loan losses                         272               120               662              321

Net interest income after provision
     for loan loss                              1,382             1,131             3,965            3,065

Noninterest Income

Service charges and deposit fees                  198                73               459              156
Securities gains                                  303               100               368              195
Gain on sale of loans                             211                 0               232                0
Other                                              58                54               173               92
                                                  770               227             1,232              443

Noninterest Expense

Salaries and employee benefits                    753               492             1,954            1,328
Occupancy and equipment                           251               166               705              358
Data processing                                    38                42               136              124
Advertising                                        62                46               140              119
Professional fees                                  55                39               161              107
Taxes other than payroll, property,
   and income                                      48                37               145              104
Other                                             268               153               694              406
                                                1,475               975             3,935            2,546

Income before income taxes                        677               383             1,262              962
Provision for income taxes                        206                60               305               60
Net Income                                       $471             $ 323            $  957             $902


Weighted average common shares outstanding:

Basic                                           1,456             1,456             1,456             1,455
Diluted                                         1,521             1,491             1,508             1,490
Earnings per share:

Basic                                          $ 0.32            $ 0.22           $  0.66   $          0.62
Diluted                                          0.31              0.22              0.63              0.61
</TABLE>


<PAGE>




                          First Security Bancorp, Inc.
      Consolidated Statement of Changes In Shareholders' Equity (Unaudited)
                                 (in thousands)

<TABLE>
<CAPTION>
                                                                                    Accumulated
                                                      Additional                      Other          Total
                                --Common Stock--       Paid-In      Retained       Comprehensive Shareholders'
                                Shares   Amount        Capital      Earnings       Income (Loss)    Equity
<S>                            <C>      <C>           <C>            <C>           <C>             <C>

Balance January 1, 2002        1,456    $ 8,385       $ 8,385        $ 383         $  (326)        $ 16,827

Net Income                        -          -             -           957              -               957


Change in unrealized gain (loss)
on securities available for sale, net
of reclassification and tax effects-         -             -                           926              926

Total comprehensive income     -             -             -            -                              1883
                             -------    --------       --------    --------         --------        --------
Balance September 30, 2002     1,456     $ 8,385        $ 8,385      $1,340          $ 600        $  18,710
                                ====       =====         =====        =====           =====           =====

</TABLE>

<PAGE>



                          First Security Bancorp, Inc.
                Consolidated Statements of Cash Flows (Unaudited)
                                 (in thousands)
                                                          Nine Months Ended
                                                            September 30,
                                                         2002            2001
Cash Flows from Operating Activities
Net income                                              $ 957           $ 902
Adjustments to reconcile net income to net
  cash from operating activities
         Depreciation                                     333             172
         Amortization of identified intangibles             6               0
         Amortization and accretion on available
            for sale securities, net                      242             (29)
         Provision for loan losses                        662             321
         Federal Home Loan Bank Stock dividends           (21)            (15)
         Gain on sale of securities                      (368)           (195)
         Gain on sale of loans                           (232)              0
         Change in assets and liabilities:
         Mortgage loans held for sale                  (4,172)              0
         Accrued interest receivable                      (31)             25
         Other assets                                    (284)           (307)
         Accrued interest payable                        (203)            133
         Other liabilities                               (141)            329
                                                      --------        -------
         Net cash from operating activities            (3,252)          1,336

Cash Flows from Investing Activities
         Net change in loans                           (8,098)        (38,242)
          Activity in available for sale securities
                  Maturities, Calls,
                     and principal repayments           5,889           6,792
                  Purchases                           (54,089)        (27,801)
                  Sales                                29,689          13,351
         Leasehold improvements and net purchases
             of premises and equipment                  (670)          (1,455)
         Purchases of FHLB stock                        (169)            (91)
         Cash paid in acquisition                        (67)               0
                                                  -----------     -----------
         Net cash from investing activities          (27,515)        (47,446)

Cash Flows from Financing Activities
         Net change in deposits                       17,698           44,689
         Net changes in securities sold under agreements
              to repurchase                           (1,910)           4,205
         Repayments on Federal Home Loan Bank advance   (565)              (8)
         Issuance of common stock                          -              628
         Proceeds from Federal Home Loan Bank advances12,500                0
                                                   ----------      ----------
         Net cash from financing activities           27,723           49,514
                                                   ----------      ----------
Net change in cash and cash equivalents               (3,044)           3,404

Cash and cash equivalents at beginning of period       8,918            8,298
                                                    ---------       ---------
Cash and cash equivalents at end of period           $ 5,874         $ 11,702
                                                       =====            =====
Supplemental Disclosure of Cash Flow Information:
         Cash paid during the period for:  Interest  $ 5,564          $ 5,386
                                           Income taxes  530                0


<PAGE>


                  FIRST SECURITY BANCORP, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 1 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     The accounting and reporting policies of First Security Bancorp,  Inc. (the
"Company")  and its  wholly-owned  subsidiary  First Security Bank of Lexington,
Inc. (the "Bank")  conform to accounting  principles  generally  accepted in the
United  States of  America  and to  predominant  practices  within  the  banking
industry. The significant policies are described below.

     The Bank is a Kentucky corporation  incorporated to operate as a commercial
bank under a state bank charter. The Bank generates  commercial,  mortgage,  and
installment loans, and receives deposits from customers located primarily in the
Fayette County, Kentucky area. The majority of the Bank's income is derived from
lending  activities.  The  majority of the Bank's  loans are secured by specific
items of collateral including business assets, real estate, and consumer assets,
although  borrower  cash flow may also be a primary  source  of  repayment.  The
Company's  internal  information  is  reported  and  evaluated  in two  segments
(meaning for these  purposes  parts of an entity  evaluated by management  using
separate  financial  information)  namely,  banking and mortgage banking.  These
segments  are  dominated  by  transactions  of a  magnitude  for which  separate
individual segment disclosures are not required.

     Recent Accounting Pronouncements: Beginning January 1, 2002, a new standard
requires all business  combinations  to be recorded using the purchase method of
accounting for any transaction initiated after June 30, 2001. Under the purchase
method,  all identifiable  tangible and intangible assets and liabilities of the
acquired  company must be recorded at fair value at date of acquisition  and the
excess of cost over fair value of net assets  acquired is recorded as  goodwill.
Identifiable  intangible  assets must be separated from  goodwill.  Identifiable
intangible  assets  with finite  useful  lives will be  amortized  under the new
standard,  whereas goodwill, both amounts previously recorded and future amounts
purchased,  will cease  being  amortized  starting  in 2002.  Annual  impairment
testing will be required  for goodwill  with  impairment  being  recorded if the
carrying  amount of  goodwill  exceeds its implied  fair  value.  The  company's
adoption of this standard did not have a material effect.

     The  accompanying  unaudited  consolidated  financial  statements have been
prepared in accordance with generally accepted accounting principles for interim
financial  information and with the  instructions to Form 10-QSB and Item 310 of
Regulation  S-B.  Accordingly,  they do not include all of the  information  and
footnotes  required by accounting  principles  generally  accepted in the United
States  of  America  for  complete  financial  statements.  In  the  opinion  of
management, all adjustments (consisting of normal recurring accruals) considered
necessary for a fair presentation have been included.  Operating results for the
nine-month  period ending  September 30, 2002 are not necessarily  indicative of
the results that are expected for the year ended December 31, 2002.


<PAGE>


NOTE 2 - SECURITIES
The amortized cost and fair value of available for sale securities (and the
related unrealized holding gains and losses) were as follows:
<TABLE>
<CAPTION>

                                                Gross             Gross
                                                Amortized         Unrealized        Unrealized       Fair
                                                Cost              Gains             Losses           Value
                                                               (in thousands)
Securities available for sale:
<S>                                               <C>                 <C>               <C>       <C>
September 30, 2002
         Securities available for sale:
         U. S. Government Agency                  $ 2,190              $40              $ 0       $2,230
         State and Municipal                       12,496              545               (4)      13,037
         Mortgage-backed                           36,753              316               (1)      37,068
                                               ----------            -----          --------  ----------
         Total securities available for
              sale                               $ 51,439            $ 901              $(5)     $52,335
                                                   ======              ===             =====      ======
December 31, 2001
         Securities available for sale:
         U. S. Government Agency                    $ 500              $ 3                 -       $ 503
         State and Municipal                       13,381                1             (449)      12,933
         Mortgage-backed                           18,923               98             (148)      18,873
                                              -----------          -------         --------- -----------
         Total securities available for          $ 32,804            $ 102           $ (597)    $ 32,309
              sale                                 ======             ====             =====      ======
</TABLE>

         Securities pledged at September 30, 2002 and year-end 2001 had carrying
amounts of $8.7 million and $13.0 million, respectively, and were pledged to
secure customer repurchase agreements. Proceeds from securities sold during the
nine months ended September 30, 2002 totaled $29.7 million and resulted in a net
gain of $368,000.


NOTE 3 - LOANS
Loans were as follows:                September 30, 2002      December 31, 2001
                                                    (in thousands)
Mortgage loans on real estate               $78,971                  $68,584
Commercial                                   36,868                   46,106
Consumer mortgage                            39,097                   32,349
Other consumer                                5,291                    5,383
                                       ------------             ------------
                                          $ 160,227                $ 152,422
                                            =======                  =======

Changes in the allowance for loan losses were as follows:

                                     Three Months Ended Nine Months Ended
                                   September 30,              September 30,

In thousands
                                 2002        2001            2002       2001
Beginning balance              $ 1,526    $ 1,373         $ 1,538    $ 1,221
         Loans charged off        (124)        (1)           (530)       (50)
         Recoveries                  1          0               5          0
         Provision for loan
         losses                    272        120             662        321

Ending balance                 $ 1,675    $ 1,492         $ 1,675    $ 1,492


Note 4:  STOCK OPTIONS

     On August 23, 2002, the Company granted options to purchase 1,500 shares of
Company  common stock to certain of its advisory  directors and those members of
its Board of Directors not employed by the Company or the Bank. The option price
for these options to purchase in the aggregate  30,000 shares of Company  common
stock is $20.25,  the market  price at the time of the grant.  The  options  are
exercisable immediately and must be exercised on or before August 23, 2007.

     On August 23, 2002, the Company granted options to purchase 3,500 shares of
Company common stock to an Executive  Officer.  The options vest over five years
and are  exercisable  at a price of $20.25,  the market price at the time of the
grant, and must be exercised on or before August 23, 2007.

Note 5: EARNINGS PER SHARE
The factors used in the earnings per share computation follow:
<TABLE>
<CAPTION>

                                                  Three Months Ended                   Nine Months Ended
                                                       September 30,                      September 30,
                                                 2002              2001              2002              2001
<S>                                            <C>                <C>              <C>                <C>

Basic
     Net Income                                $  471             $ 323            $  957             $ 902

Weighted average common shares                  1,456             1,456             1,456             1,455
Basic earnings per share                       $  .32             $ .22            $  .66             $ .62

Diluted
     Net Income                                $  471             $ 323            $  957             $ 902

Weighted average common shares                  1,456             1,456             1,456             1,455
Add: Dilutive effects of assumed exercises
     of stock warrants                             65                35                52                35
Average shares and dilutive potential
     common shares                              1,521             1,491             1,508             1,490

Diluted earnings per common share              $  .31             $ .22             $ .63             $ .61
</TABLE>


Note 6:  ACQUISITION

On June 3, 2002, the Bank acquired  certain  assets of First  Mortgage  Company,
Inc., in Lexington,  Kentucky.  The operations were assumed by the Bank promoted
and conducted as a division of the bank under the name "First Security  Mortgage
Company",  the purpose of which is to originate mortgage loans for sale into the
secondary market.  The acquisition  agreement included a purchase price of up to
$476,000,  $67,000 of which was paid at closing.  The  remainder of the purchase
price is payable  contingent  upon the  division's  earnings  over the next four
years. The acquisition also included a four-year employment agreement with First
Mortgage's  shareholder and president at a salary level similar to that of other
executives of the Bank.

PART I - Item 2.  Management's Discussion and Analysis or Plan of Operation


General
     First Security Bank of Lexington, Inc. is a commercial banking organization
organized under the laws of the Commonwealth of Kentucky,  and is a wholly-owned
subsidiary of First Security Bancorp,  Inc. First Security Bank offers a variety
of products  and  services  through  four  full-service  offices  including  the
acceptance  of  deposits  for  checking,  savings  and  time  deposit  accounts;
extension  of secured  and  unsecured  loans to  corporations,  individuals  and
others;  issuance of letters of credit;  and rental of safe deposit boxes. First
Security Bank's lending activities include commercial and industrial loans, real
estate,  installment  and other  consumer  loans,  and  revolving  credit plans.
Operating  revenues are derived  primarily  from  interest and fees on loans and
from interest on investment securities.

     We have made, and may continue to make, various forward-looking  statements
with respect to credit quality  (including  delinquency trends and the allowance
for loan losses), corporate objectives and other financial and business matters.
When  used in this  discussion  the  words  "anticipate,"  "project,"  "expect,"
"believe,"  and similar  expressions  are  intended to identify  forward-looking
statements.  In addition to factors  disclosed by First  Security  Bancorp,  the
following factors, among others, could cause actual results to differ materially
from such  forward-looking  statements:  pricing  pressures  on loan and deposit
products; competition; changes in economic conditions both nationally and in our
market;  the  extent  and  timing  of  actions  of the  Federal  Reserve  Board;
customers' acceptance of our products and services; and the extent and timing of
legislative and regulatory actions and reforms.

Overview
     The  mission  of First  Security  Bank is to  firmly  establish  itself  in
Lexington,  Kentucky as a full-service bank providing  traditional  products and
services  typically offered by commercial banks. The Lexington banking market is
highly  competitive with 19 commercial banks and thrift  institutions  currently
serving  the  market.  Most of the banks in  Lexington  are part of larger  bank
holding companies headquartered outside of the Lexington / Fayette County market
and Kentucky. Promoting local management has proven effective for First Security
Bank in attracting customers, fostering loyalty and establishing and maintaining
strong asset quality.


Results of Operations
     Net income for the nine  months  ended  September  30,  2002 was  $957,000,
compared to $902,000 for the nine months ended  September  30, 2001.  Net income
for the three  months  ended  September  30,  2002 and  September  30,  2001 was
$471,000 and $323,000,  respectively.  Net income has been favorably impacted by
an increase in net interest  income and  noninterest  income,  an increase which
outpaced expense increases  associated with facilities,  personnel,  and federal
income taxes.  Earning  assets  increased from $189.7 million as of December 31,
2001 to $218.6 million as of September 30, 2002. Net loans increased from $150.9
million as of December  31, 2001 to $158.6  million as of  September  30,  2002.
Securities  available for sale increased from $32.3 million to $52.3 million for
the same periods.  Total  deposits  increased from $168.7 million as of December
31, 2001 to $186.4 million as of September 30, 2002.

     In December,  2000 First Security Bank purchased a former banking  facility
at 318-320  East Main Street in downtown  Lexington  for $3.5 million to replace
its main  office.  First  Security  Bank moved its  downtown  offices to the new
facility in September, 2001. The new location features drive-through windows, an
ATM and  innovative  interior  design  features.  A total  of $1.2  million  was
invested  on the new  facility  in  addition  to its  purchase  price.  A fourth
location  was also  opened  during the fourth  quarter of 2001.  A building  was
purchased and was opened for this purpose at a total cost of $906,000.  The land
for this facility was leased for $5,600 per month. Growth in net income and book
value  per share  will be  negatively  impacted  until  the  growth in  earnings
resulting from these new locations covers the additional  costs.  First Security
Bancorp believes,  however,  that the potential longer term benefits,  including
prospects  for new loan and deposit  growth,  outweigh the  potential  near term
costs.  On June 3, 2002,  First  Security  Bank of Lexington  purchased  certain
assets of First Mortgage Company, Inc. in an effort to expand its penetration of
the Central  Kentucky  residential  mortgage loan market.  This  acquisition has
enhanced the bank's products and service  offerings and benefited its customers.
These mortgage  products and services,  now offered  through First Security Bank
under  the  name  of  First  Security  Mortgage  Company,  is a  new  source  of
noninterest income.

Net Interest Income
     First  Security  Bancorp's  principal  source of  revenue  is net  interest
income.  Net  interest  income  is the  difference  between  interest  income on
interest-earning assets, such as loans and securities,  and the interest expense
on liabilities used to fund those assets, such as interest-bearing  deposits and
borrowings.  Net  interest  income is impacted by both changes in the amount and
composition of interest-earning assets and interest-bearing  liabilities as well
as market interest rates.

     The change in net interest  income is typically  measured by changes in net
interest spread and net interest  margin.  Net interest spread is the difference
between the average  yield on  interest-earning  assets and the average  cost of
interest-bearing  liabilities. Net interest margin is determined by dividing net
interest income by interest-earning assets.

     Net interest income was $1.654 million for the three months ended September
30, 2002 compared to $1.251 million for the same period in 2001, resulting in an
increase  of  $403,000,  or 32.2%.  The  increase  in net  interest  income  was
primarily the result of a decline in the cost of funding deposits  (leading to a
reduction in interest  expense),  and to a lesser  extent,  volume  increases in
earning  assets.  Net interest  margin  increased to 3.08% for the quarter ended
September  30, 2002,  versus  2.99% for the quarter  ended  September  30, 2001.
Year-to-date  net  interest  margin  decreased  to 3.01% from 3.03% for the nine
month period ended  September 30, 2001. The increase in the third quarter margin
was caused by the repricing of rate  sensitive  liabilities  (precipitated  by a
decline  in the  general  level of  interest  rates) at a faster  rate than rate
sensitive assets which had already  repriced in prior quarters.  The decrease in
the  year-to-date  net  interest  margin  was  caused  by a change in the mix of
earning  assets,  with higher  yielding loans  decreasing  from 82.5% of earning
assets at  September  30, 2001,  to 77.0% at September  30, 2002. A weakening in
general economic  conditions has led to a decrease in the proportion of loans to
total earning assets.  In order to improve net interest  margin,  First Security
Bank  previously  deployed  available  funding by investing  in  mortgage-backed
securities and federally tax-exempt bonds. In addition,  loan pricing strategies
have been  adjusted and features  such as interest  rate floors have been added.
The results of these  strategies  are  reflected in the increase in net interest
margin in the third quarter.

Noninterest Income and Expenses
     Noninterest income increased from $443,000 to $1,232,000 for the nine month
periods ended September 30, 2001 and 2002,  respectively.  Amounts were $227,000
and $770,000 for the quarters ended  September 30, 2001 and 2002,  respectively.
Components of  noninterest  income include  service  charges and fees on deposit
accounts,  securities  gains,  gains on the sale of loans,  and other fees.  The
primary  increase in  noninterest  income was the result of service  charges and
fees on deposit  accounts  increasing  from $156,000 to $459,000 for the year to
date ending  September 30, 2002.  Securities gains and gain on the sale of loans
of $203,000 and $211,000,  respectively, were the primary cause of the quarterly
increases. The increase in year to date fees resulted from the introduction of a
new checking product and growth in total deposit accounts. Securities gains were
taken on investments sold, with the proceeds subsequently reinvested. Securities
gains were incurred as a result of the repositioning of the investment portfolio
effected in order to reduce  interest rate risk and for tax  planning.  Gains of
this nature are infrequent and irregular in amount,  and are not  anticipated to
regularly increase earnings in significant  amounts going forward.  Gain on sale
of loans for the nine months ended  September 30, 2002 was  $232,000.  This is a
new source of revenue for First Security Bank, resulting from its First Security
Mortgage  Company  operations.  Management  anticipates that this revenue source
will grow going forward,  fluctuating  with cycles  experienced in the secondary
mortgage market caused by changes in interest rates.

     Total  noninterest  expense was $3.94  million  for the nine  months  ended
September 30, 2002, versus $2.55 million for the nine months ended September 30,
2001.  Total  noninterest  expense for the quarter ended  September 30, 2002 was
$1.48  million  versus  $975,000 for the quarter ended  September 30, 2001.  The
largest  component  of total  noninterest  expense  is  salaries  and  benefits.
Salaries and benefits  were $1.95  million and $1.33 million for the nine months
ended September 30, 2002 and 2001,  respectively,  and $753,000 and $492,000 for
the three months ended September 30, 2002 and 2001, respectively.  The number of
full-time  equivalent employees increased from 45 at September 30, 2001 to 59 at
September 30, 2002.  Staffing levels  increased as a result of the addition of a
fourth branch office in the fourth  quarter of 2001,  the  relocation to the new
main office  facility in September  2001, and the  acquisition of First Mortgage
Company, Inc. in June 2002.

     Occupancy and equipment  expense,  net of rental revenue,  was $705,000 and
$358,000 for the nine months ended  September  30, 2002 and 2001,  respectively,
and $251,000 and  $166,000  for the three  months ended  September  30, 2002 and
2001,  respectively.  The  increase  resulted  primarily  from  operating  costs
associated  with the fourth branch  office,  the new main office  facility,  and
costs associated with the acquisition and operations of First Mortgage  Company,
Inc.

     In the third quarter of 2001, First Security Bancorp,  Inc. began recording
federal income tax expense,  which for the nine months ended September 30, 2002,
was  $305,000.  Income  tax  expense  was not  previously  recorded  due to both
historical losses and concern about First Security  Bancorp's ability to utilize
certain deferred tax assets. Going forward,  income tax expense will continue to
be recorded at approximately 34% of taxable income.

Investment Securities
     Through all reported periods,  First Security Bank's  investment  portfolio
consisted  primarily of mortgage backed bonds and state and municipal bonds. The
amortized  cost of  investment  securities  increased  from $32.8  million as of
December 31, 2001 to $51.4  million as of September 30, 2002.  Excess  liquidity
was redeployed into investment securities in order to attain higher yields.

Loans
     Net loans  increased  $7.7 million  from $150.9  million as of December 31,
2001, to $158.6  million as of September 30, 2002. As of the end of each period,
over 70% of First  Security  Bank's loan  portfolio  was in loans to  commercial
businesses and commercial real estate borrowers. Loans in the consumer sector of
the  portfolio,  which  includes  consumer  mortgage and other  consumer  loans,
comprised the  remainder of the  portfolio as of the end of both periods.  First
Security Bank desires increased  penetration within the consumer loan market and
believes the new locations should help build new customer relationships.

Allowance and Provision for Loan Losses
     The provision for loan losses  increased  from $321,000 for the nine months
ended  September  30,  2001 to $662,000  for the same period in 2002.  Quarterly
amounts increased from $120,000 to $272,000 for the quarters ended September 30,
2001 and 2002,  respectively.  The  increase  in the  provision  for loan losses
resulted  from an  increase  in the level of  nonperforming  loans and a related
increase in net charge-offs,  a growth in the level of outstanding  loans, and a
decline in the local and national economy.

     Net  charge-offs for the nine months ended September 30, 2002 were $525,000
as compared to $50,000 for the same period in 2001. The level of charge-offs for
the  first  nine  months  of 2002 was  significantly  impacted  by a  charge-off
involving two borrowers in the amounts of $335,000 and $100,000.

     As of September 30, 2002,  nonperforming assets (which includes non-accrual
loans, loans past due 90 days or more and still accruing,  and other real estate
owned)  totaled  $3.1  million,  as compared to $789,000 at December  31,  2001.
Nonperforming  assets as a percentage of total loans were 1.94% at September 30,
2002, as compared to 0.52% at December 31, 2001. One  commercial  account in the
amount of $1.3 million is expected to be fully secured and amortized,  enhancing
First  Security  Bank's  position and causing this credit to be removed from the
nonperforming category.  Another commercial real estate account in the amount of
$518,000  is  expected  to be  brought  current  or paid  in full by the  owner,
removing  it  from  non-accrual  status.  If  these  anticipated  actions  occur
respecting  these two  credits,  and these two credits  were  removed from First
Security  Bank's  total  nonperforming  assets as of September  30, 2002,  total
nonperforming  assets  to total  loans  would  have  yielded  a ratio of  0.81%.
Management  continues to emphasize  evaluation of loan portfolio  risks and will
pursue all available means of collection.

     The  allowance  for loan losses is regularly  evaluated by  management  and
reported  quarterly  to our  board of  directors.  Our  management  and board of
directors  maintain  the  allowance  for loan  losses at a level  believed to be
sufficient  to  absorb  inherent  losses  in the  portfolio  at a point in time.
Management's  allowance for loan loss estimate  consists of specific and general
reserve  allocations  as influenced  by various  factors.  Such factors  include
changes in lending policies and procedures;  underwriting standards; collection,
charge-off  and recovery  history;  changes in national  and local  economic and
business  conditions and  developments;  changes in the  characteristics  of the
portfolio;  ability and depth of lending  management  and staff;  changes in the
trend of the volume and severity of past due,  non-accrual and classified loans;
troubled  debt  restructuring  and other  loan  modifications;  and  results  of
regulatory  examinations.  To evaluate the loan  portfolio,  management has also
established loan grading procedures. These procedures establish a grade for each
loan upon origination  which is periodically  reassessed  throughout the term of
the loan. Grading categories  include prime,  good,  satisfactory,  fair, watch,
substandard, doubtful, and loss. Specific reserve allocations are calculated for
individual  loans  having  been  graded  watch  or worse  based on the  specific
collectability  of each loan.  Loans graded  watch or worse also  include  loans
severely past-due and those not accruing  interest.  Loss estimates are assigned
to each loan,  which results in a portion of the allowance for loan losses to be
specifically allocated to that loan.

     The general  reserve  allocation  is computed by loan  category  reduced by
loans with specific reserve  allocations and loans fully secured by certificates
of deposit with First Security  Bank.  Loss factors are applied to each category
for which the  cumulative  product  represents the general  reserve.  These loss
factors are typically  developed over time using actual loss experience adjusted
for the various factors discussed above. As First Security Bank was organized in
1997, our historical loss  experience is less reliable as a future  predictor of
inherent  losses than that of a bank with a mature loss  history.  Until our own
experience  becomes fully  developed,  we have computed these factors  utilizing
selected  peer  data and from the  Uniform  Bank  Performance  Reports  which we
believe  is  representative  of  our  loan  customer  base  and is  therefore  a
reasonable predictor of inherent losses in our portfolio.

     We  believe  the  allowance  for loan  losses  at  September  30,  2002 was
adequate.  Although  we believe we use the best  information  available  to make
allowance  provisions,  future  adjustments  which  could  be  material  may  be
necessary if the assumptions  used to determine the allowance differ from future
loan portfolio performance.

Deposits and Other Borrowings
     The deposit base  provides  the major  funding  source for earning  assets.
Total  deposits  increased by $17.7  million from December 31, 2001 to September
30, 2002.  Deposits have grown at historically  consistent  levels.  Noninterest
bearing  deposits were up from 7.45% of total  deposits as of December 31, 2001,
to 10.31% of total  deposits as of  September  30, 2002.  Growth in  noninterest
bearing  deposits  as a  percentage  of  total  deposits  will  continue  to  be
encouraged.

         The table below illustrates our deposits by major categories as of
September 30, 2002 and December 31, 2001:

DEPOSITS
                                                September 30,       December 31,
                                                    2002                2001
                                                         (in thousands)

Interest-bearing demand deposits                  $ 20,865           $ 18,886

Savings deposits                                    22,330             17,113

Time deposits less than $100,000                    77,185             75,672

Time deposits $100,000 and over                     46,844             44,498
                                             -------------       ------------
         Total interest-bearing deposits           167,224            156,169

         Total noninterest-bearing deposits         19,218             12,575
                                              ------------       ------------
                  Total                          $ 186,442          $ 168,744

Liquidity
     Liquidity  management is the process by which management attempts to insure
that adequate  liquid funds are  available to meet  financial  commitments  on a
timely basis.  These  commitments  include  withdrawals by  depositors,  funding
credit  obligations  to  borrowers,  servicing  long-term  obligations,   paying
operating  expenses,   funding  capital  expenditures  and  maintaining  reserve
requirements.  Liquidity is monitored closely by the Asset/Liability  Management
Committee of the First Security Bank Board of Directors, which monitors interest
rates and  liquidity  risk while  implementing  appropriate  funding and balance
sheet strategies.

     First  Security Bank has  established a limited  number of  alternative  or
secondary  sources to provide  additional  liquidity  and funding  sources  when
needed to support lending activity or other liquidity needs.  These  alternative
funding sources  currently  include unsecured federal funds lines of credit from
five  correspondent  banks  aggregating  approximately  $25  million;  a secured
repurchase  agreement  line of credit from a  correspondent  bank based upon the
market  value  of  pledged  securities;   and  a  secured  repurchase  agreement
arrangement with an agency of the Commonwealth of Kentucky.  Additionally, First
Security  Bank is a member of the  Federal  Home Loan Bank of  Cincinnati  which
allows  First  Security  Bank  to  borrow  based  on  the  level  of  qualifying
residential  loans  which serve as  collateral  for this type of  borrowing.  At
September 30, 2002,  First Security Bank could borrow an additional $7.5 million
based on available collateral.

     First Security Bank had total borrowings of $15.3 million and $25.3 million
as of December 31, 2001,  and  September  30, 2002  respectively.  Borrowings at
September  30, 2002 were in the form of customer  repurchase  agreements  in the
amount  of $6.1  million  and  federal  funds  purchased  in the  amount of $4.9
million. First Security Bank additionally had Federal Home Loan Bank advances in
the amount of $14.3 million.  The need for future borrowing  arrangements  above
current levels will be evaluated by management with  consideration  given to the
growth  prospects of the loan  portfolio,  liquidity  needs,  costs of deposits,
market conditions and other factors.  Short-term  liquidity needs for periods of
up to one year may be met through  federal funds lines of credit  borrowings and
short-term  Federal  Home  Loan  Bank  advances.  The  Federal  Home  Loan  Bank
additionally  offers advance programs of varying maturities for terms beyond one
year.

Capital
     Regulatory  agencies measure capital adequacy within a framework that makes
capital  requirements,  in part,  dependent on the  individual  risk profiles of
financial institutions. Total capital (as determined under accounting principles
generally  accepted in the United States of America) as of December 31, 2001 was
$16.8  million  or 8.31% of  assets.  Total  capital as of  September  30,  2002
increased to $18.7 million, but because assets increased at a faster rate, total
capital (as determined under  accounting  principles  generally  accepted in the
United  States of  America) to assets  declined  to 8.08% of assets.  Total risk
based  capital to risk weighted  assets  increased to 11.02% as of September 30,
2002 from 10.90% as of December 31, 2001.

     First  Security  Bancorp  and First  Security  Bank  exceed the  regulatory
requirements  for all three capital  ratios.  First Security  Bancorp intends to
maintain  a  capital  position  that  meets or  exceeds  the  "well-capitalized"
requirements as defined by these regulations by exploring opportunities to raise
new capital or moderate its growth rate at levels  sustaining a well capitalized
position.  In addition to capital  regulations,  state banking regulations limit
First Security  Bank's ability to pay dividends  without prior  approval.  Under
these  regulations,  First  Security Bank may pay dividends in any calendar year
only to the extent of current  year's net profits  plus the retained net profits
of the preceding two years and not in excess of the balance of retained earnings
then on hand.  First Security  Bancorp also has regulatory  limits on dividends,
but  less  restrictive.  First  Security  Bancorp  does  not  anticipate  paying
dividends to  shareholders  for at least the next several  years as any earnings
generated will need to be retained to support future growth opportunities.


PART I - Item 4.  Controls and Procedures

     Company  management,  including the Chief Executive Officer (serving as the
principal  executive  officer) and Chief  Financial  Officer,  have conducted an
evaluation of the effectiveness of disclosure  controls and procedures  pursuant
to Exchange  Act Rule  13a-14.  Based on that  evaluation,  the Chief  Executive
Officer and the Chief Financial Officer  concluded that the disclosure  controls
and procedures are effective in ensuring that all material  information required
to be filed in this  quarterly  report  has been made  known to them in a timely
fashion.  There have been no  significant  changes in internal  controls,  or in
other factors that could significantly  affect internal controls,  subsequent to
the date the Chief Executive Officer and Chief Financial Officer completed their
evaluation.


Part II - Other Information

 Item 6. Exhibits and Reports on Form 8-K

        (a) Exhibits

            The exhibits listed on the Exhibit Index of this Form 10-QSB are
            filed as a part of this report.


          (b) Reports on Form 8-K

         First Security Bancorp filed a report on Form 8-K dated July 30, 2002
         reporting earnings for the three months ended June 30, 2002.



                                   SIGNATURES

     In accordance with the requirements of the Exchange Act , the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
                                                First Security Bancorp, Inc.

                                                /s/John S. Shropshire
Date:  November 14, 2002                        John S. Shropshire
                                                Chairman, President and CEO
                                                (Principal Executive Officer)



                                                /s/Ben A. New
Date:  November 14, 2002                        Ben A. New
                                                Chief Financial Officer
                                                (Principal Financial and
                                                Accounting Officer)



    CERTIFICATIONS PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

CERTIFICATION

I, John S. Shropshire, certify that:

1)   I have reviewed this quarterly report on Form 10-QSB of First Security
     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 we have:

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

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

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

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

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

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

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


Date: November 14, 2002                       By:  /s/ John S. Shropshire
                                                   John S. Shropshire
                                                   Chairman, President, and CEO

CERTIFICATION

I, Ben A. New, certify that:

1) I have reviewed this quarterly report on Form 10-QSB of First Security
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 officers and I have disclosed, based on
    our most recent evaluation, to the registrant's auditors and the audit
    committee of registrant's board of directors (or persons performing the
    equivalent 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

6)  The registrant's other certifying officers 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: November 14, 2002                    By: /s/ Ben A. New
                                               Ben A. New
                                               Chief Financial Officer



                                  EXHIBIT INDEX

Exhibit 11.       Statement Regarding Computation of Per Share Earnings
                  (see Part I, Note 5 "Earnings Per Share" for computation)


Exhibit 99.1      Certification of Principal Executive Officer Pursuant to
                  18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of
                  the Sarbanes-Oxley Act of 2002

Exhibit 99.2      Certification of Principal Financial Officer Pursuant to
                  18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of
                  the Sarbanes-Oxley Act of 2002



Exhibit 99.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the accompanying  Form 10-Q of First Security  Bancorp,  Inc.
for the quarter ended September 30, 2002, I, John S. Shropshire, Chief Executive
Officer  of  First  Security  Bancorp,  Inc.,  hereby  certify  pursuant  to  18
U.S.C.ss.1350,  as adopted pursuant to ss.906 of the Sarbanes-Oxley Act of 2002,
that:

(1) Such Form 10-Q for the quarter ended September 30, 2002 fully complies with
the requirements of section 13(a) or 15(d) of the Securities Exchange Act of
1934; and

(2) The information contained in such Form 10-Q for the quarter ended September
30, 2002 fairly presents, in all material respects, the financial condition and
results of operation of First Security Bancorp, Inc.


By:      /s/ John S. Shropshire
         John S. Shropshire
         Chief Executive Officer

Date:  November 14, 2002.

Exhibit 99.2

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the accompanying  Form 10-Q of First Security  Bancorp,  Inc.
for the quarter ended September 30, 2002, I, Ben A. New, Chief Financial Officer
of First Security Bancorp, Inc., hereby certify pursuant to 18 U.S.C.ss.1350, as
adopted pursuant toss. 906 of the Sarbanes-Oxley Act of 2002, that:

(1) Such Form 10-Q for the quarter ended September 30, 2002 fully complies with
the requirements of section 13(a) or 15(d) of the Securities Exchange Act of
1934; and

(2) The information contained in such Form 10-Q for the quarter ended September
30, 2002 fairly presents, in all material respects, the financial condition and
results of operation of First Security Bancorp, Inc.


By:      /s/ Ben A. New
         Ben A. New
         Chief Financial Officer

Date:  November 14, 2002.