SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

(Mark One)

[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2001 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: 0-25910

                           LOGANSPORT FINANCIAL CORP.
               (Exact name of registrant specified in its charter)


         Indiana                                              35-1945736
(State or other jurisdiction of                            (I.R.S. Employer
incorporation or organization)                          Identification Number)


                                723 East Broadway
                                  P.O. Box 569
                            Logansport, Indiana 46947
                     (Address of principal executive offices
                               including Zip Code)

                                 (219) 722-3855
              (Registrant's telephone number, including area code)

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  report),  and  (2)  has  been  subject  to such  filing
requirements for the past 90 days.

                  Yes [X]                   No [  ]

The number of shares of the Registrant's common stock,  without par value, as of
April 27, 2001 was 1,083,510.



                                      -1-
<PAGE>



                           Logansport Financial Corp.
                                    Form 10-Q
                                      Index

                                                                       Page No.

PART 1.  FINANCIAL INFORMATION
Item 1.    Financial Statements                                              3

           Consolidated Statements of Financial
           Condition as of March 31, 2001
           and December 31, 2000

           Consolidated Statements of Earnings
           for the three months ended March 31,
           2001 and 2000

           Consolidated Statements of Shareholders'
            Equity for the three months ended
            March 31, 2001 and 2000

           Consolidated Statements of Cash Flows
           for the three months ended
           March 31, 2001 and 2000

           Notes to Consolidated Condensed Financial
           Statements                                                        8

Item 2.    Management's Discussion and Analysis of Financial
             Condition and Results of Operations                            10

Item 3.   Quantitative and Qualitative Disclosures About Market Risk        13

PART II. OTHER INFORMATION

Item 1.    Legal Proceedings                                                15


Item 6.    Exhibits and Reports of Form 8-K                                 15

SIGNATURES 16









                                      -2-
<PAGE>


                           LOGANSPORT FINANCIAL CORP.
<TABLE>
<CAPTION>
                 Consolidated Statements of Financial Condition
                        (In thousands, except share data)


                                                                                 March 31,        December 31,
         ASSETS                                                                       2001                2000
<S>                                                                                  <C>                  <C>
Cash and due from banks                                                           $    461            $    576
Interest-bearing deposits in other financial institutions                           10,394               8,634
                                                                                   -------             -------
         Cash and cash equivalents                                                  10,855               9,210

Investment securities available for sale-at market                                   7,711               8,322
Mortgage-backed securities available for sale-at market                              4,938               5,165
Loans receivable-net                                                               104,012             102,418
Office premises and equipment-at depreciated cost                                    1,831               1,843
Federal Home Loan Bank stock - at cost                                               1,973               1,973
Investment in real estate partnership                                                1,241               1,284
Accrued interest receivable on loans                                                   506                 548
Accrued interest receivable on mortgage-backed securities                               40                  41
Accrued interest receivable on investments                                             122                 107
Prepaid expenses and other assets                                                       58                  64
Cash surrender value of life insurance                                               1,244               1,234
Deferred income tax asset                                                              323                 403
                                                                                   -------             -------

         Total assets                                                             $134,854            $132,612
                                                                                   =======             =======

         LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits                                                                          $ 81,329            $ 79,454
Advances from the Federal Home Loan Bank                                            34,000              34,000
Notes payable 1,165                                                                  1,237
Accrued interest and other liabilities                                                 956                 906
Accrued income taxes                                                                    49                   2
                                                                                   -------             -------
         Total liabilities                                                         117,499             115,599

Shareholders' equity
  Common stock                                                                       5,515               5,515
  Retained earnings-restricted                                                      11,697              11,526
  Less shares acquired by stock benefit plan                                           (69)               (103)
  Accumulated comprehensive income,
       unrealized gains on securities designated
        as available for sale, net of related tax effects                              212                  75
                                                                                   -------             -------
         Total shareholders' equity                                                 17,355              17,013
                                                                                   -------             -------

         Total liabilities and shareholders' equity                               $134,854            $132,612
                                                                                   =======             =======
</TABLE>




                                      -3-
<PAGE>


                           LOGANSPORT FINANCIAL CORP.
<TABLE>
<CAPTION>
                       Consolidated Statements of Earnings
                        (In thousands, except share data)

                                                                                         Three months ended
                                                                                               March 31,
                                                                                         2001             2000
<S>                                                                                     <C>               <C>
Interest income
  Loans                                                                                $2,148           $1,865
  Mortgage-backed securities                                                               83               98
  Investment securities                                                                   125              163
  Interest-bearing deposits and other                                                     145               83
                                                                                        -----            -----
         Total interest income                                                          2,501            2,209

Interest expense
  Deposits                                                                              1,000              909
  Borrowings                                                                              529              334
                                                                                        -----            -----
         Total interest expense                                                         1,529            1,243
                                                                                        -----            -----

         Net interest income                                                              972              966

Provision for losses on loans                                                              86               71
                                                                                        -----            -----

         Net interest income after provision for
           losses on loans                                                                886              895

Other income
  Service charges on deposit accounts                                                      61               32
  Loss on equity investment                                                               (61)             (26)
  Other operating                                                                          52               44
                                                                                        -----            -----
         Total other income                                                                52               50

General, administrative and other expense
  Employee compensation and benefits                                                      294              296
  Occupancy and equipment                                                                  58               45
  Federal deposit insurance premiums                                                        4                4
  Data processing                                                                          47               39
  Other operating                                                                         132              103
                                                                                        -----            -----
         Total general, administrative and other expense                                  535              487
                                                                                        -----            -----

Earnings before income taxes                                                              403              458
Income tax expense                                                                        102              151
                                                                                        -----            -----

NET EARNINGS                                                                           $  301           $  307
                                                                                        =====            =====

Other comprehensive income (loss), net of tax -
  unrealized gains (losses) on securities                                                 137              (14)
                                                                                        -----            -----

COMPREHENSIVE INCOME                                                                   $  438           $  293
                                                                                        =====            =====

EARNINGS PER SHARE
Basic (based on net earnings)                                                           $0.28            $0.28
                                                                                         ====             ====

Diluted (based on net earnings)                                                         $0.27            $0.28
                                                                                         ====             ====
</TABLE>



                                      -4-
<PAGE>


                           LOGANSPORT FINANCIAL CORP.
<TABLE>
<CAPTION>
                 Consolidated Statements of Shareholders' Equity
                        (In thousands, except share data)

                                                                                           Three months ended
                                                                                              March 31,
                                                                                      2001                2000
<S>                                                                                  <C>                  <C>
Balance at January 1                                                               $17,013             $16,146

Purchase of shares                                                                      -                 (464)

Amortization of stock benefit plan                                                      34                  34

Cash dividends of $.12 per share in 2001 and $.11 per share in 2000                   (130)               (119)

Unrealized gains (losses) on securities designated as
  available for sale, net of related tax effects                                       137                 (14)

Net earnings                                                                           301                 307
                                                                                    ------              ------

Balance at March 31                                                                $17,355             $15,890
                                                                                    ======              ======

Accumulated other comprehensive income (losses)                                    $   212             $  (342)
                                                                                    ======              ======
</TABLE>























                                      -5-
<PAGE>


                           LOGANSPORT FINANCIAL CORP.
<TABLE>
<CAPTION>
                      Consolidated Statements of Cash Flows
                                 (In thousands)

                                                                                          Three months ended
                                                                                               March 31,
                                                                                      2001                2000
<S>                                                                                  <C>                 <C>
Cash flows from operating activities:
  Net earnings for the period                                                      $   301             $   307
  Adjustments to reconcile net earnings to net cash
  provided by (used in) operating activities:
    Depreciation and amortization                                                       29                  27
    Amortization of premiums on investments and
       mortgage-backed securities                                                       12                  12
    Amortization expense of stock benefit plan                                          34                  34
    Provision for losses on loans                                                       86                  71
    Loss on equity investment                                                           61                  26
    Increase (decrease) in cash, due to changes in:
      Accrued interest receivable on loans                                              42                  16
      Accrued interest receivable on mortgage-backed securities                          1                   2
      Accrued interest receivable on investments                                       (15)                (62)
      Prepaid expenses and other assets                                                  6                  11
      Accrued interest and other liabilities                                            50                  15
      Federal income taxes
        Current                                                                         47                 111
        Deferred                                                                         9                   6
                                                                                    ------              ------
         Net cash provided by operating activities                                     663                 576

Cash flows provided by (used in) investing activities:
Purchase of investment securities                                                     (253)             (1,779)
Maturities/calls of investment securities                                            1,025                  -
Purchase of Federal Home Loan Bank stock                                                -                 (150)
Principal repayments on mortgage-backed securities                                     262                 246
Loan disbursements                                                                 (12,257)            (10,832)
Investment in real estate partnership                                                  (18)                (21)
Principal repayments on loans                                                       10,577               8,179
Purchases and additions to office premises and equipment                               (17)                (22)
Increase in cash surrender value of life insurance policy                              (10)                (11)
                                                                                    ------              ------
         Net cash used in investing activities                                        (691)             (4,390)
                                                                                    ------              ------

         Net cash used in operating and investing activities
           (subtotal carried forward)                                                  (28)             (3,814)
                                                                                    ------              ------
</TABLE>






                                      -6-
<PAGE>


                           LOGANSPORT FINANCIAL CORP.
<TABLE>
<CAPTION>
                Consolidated Statements of Cash Flows (Continued)
                                 (In thousands)

                                                                                       Three months ended
                                                                                             March 31,
                                                                                      2001                2000
<S>                                                                                   <C>                <C>
         Net cash used in operating and investing activities
           (subtotal brought forward)                                              $   (28)            $(3,814)

Cash provided by (used in) financing activities:
  Net increase in deposit accounts                                                   1,875               5,037
  Proceeds from Federal Home Loan Bank advances                                      2,000               5,000
  Repayment of Federal Home Loan Bank advances                                      (2,000)             (2,000)
  Repayment of note payable                                                            (72)                (70)
  Purchase of shares                                                                    -                 (464)
  Dividends on common stock                                                           (130)               (119)
                                                                                    ------              ------
         Net cash provided by financing activities                                   1,673               7,384
                                                                                    ------              ------

Net increase in cash and cash equivalents                                            1,645               3,570

Cash and cash equivalents, beginning of period                                       9,210               5,146
                                                                                    ------              ------

Cash and cash equivalents, end of period                                           $10,855             $ 8,716
                                                                                    ======              ======


Supplemental disclosure of cash flow information:
  Cash paid during the year for:
    Interest on deposits and borrowings                                            $ 1,435             $ 1,210
                                                                                    ======              ======

    Income taxes                                                                   $    45             $    35
                                                                                    ======              ======

  Dividends payable at end of period                                               $   130             $   119
                                                                                    ======              ======


Supplemental disclosure of noncash financing activities:
  Unrealized gains (losses) on securities designated as
    available for sale, net of related tax effects                                 $   137             $   (14)
                                                                                    ======              ======
</TABLE>












                                      -7-
<PAGE>


              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS



NOTE A:  Basis of Presentation

The unaudited interim  consolidated  condensed financial  statements include the
accounts of Logansport  Financial  Corp.  (the  "Company")  and its  subsidiary,
Logansport Savings Bank, FSB, (the "Bank").

The unaudited  interim  consolidated  condensed  financial  statements have been
prepared in accordance with the instructions to Form 10-Q and, therefore, do not
include  all  information  and  disclosures  required by  accounting  principles
generally  accepted  in the United  States of  America  for  complete  financial
statements.   Accordingly,   these  financial   statements  should  be  read  in
conjunction  with  the  consolidated  financial  statements  and  notes  thereto
included in the Annual Report on Form 10-K for the year ended December 31, 2000.
In the opinion of management,  the financial  statements reflect all adjustments
(consisting of only normal recurring  accruals)  necessary to present fairly the
Company's  financial  position as of March 31, 2001,  results of operations  and
cash flows for the three month periods ended March 31, 2001 and 2000.


NOTE B: Earnings Per Share and Dividends Per Share

Basic  earnings  per share is computed  based upon the  weighted-average  shares
outstanding  during  the  period.  Weighted-average  common  shares  outstanding
totaled 1,083,510 and 1,112,829 for the three-month periods ended March 31, 2001
and 2000,  respectively.  Diluted  earnings  per share is  computed  taking into
consideration  common shares  outstanding and dilutive  potential  common shares
issued under the  Company's  stock option plan.  Weighted-average  common shares
deemed  outstanding for purposes of computing diluted earnings per share totaled
1,096,918  and 1,112,829  for the  three-month  periods ended March 31, 2001 and
2000, respectively.  Incremental shares related to the assumed exercise of stock
options included in the calculation of diluted earnings per share totaled 13,408
for the three month period ended March 31, 2001.

Options to  purchase  125,915  shares of common  stock  with a  weighted-average
exercise  price of $10.59 were  outstanding at March 31, 2000, but were excluded
from the computation of common share  equivalents  because their exercise prices
were greater than the average market price of the common shares.

A cash dividend of $.12 per common share was declared on March 1, 2001,  payable
on April 10, 2001, to stockholders of record as of March 16, 2001.














                                      -8-
<PAGE>


NOTE C: Recent Accounting Pronouncements

In September 1998, the Financial  Accounting Standards Board (the "FASB") issued
Statement of Financial  Accounting  Standards  ("SFAS") No. 133  "Accounting for
Derivative  Instruments  and  Hedging  Activities"  which  requires  entities to
recognize  all  derivatives  in their  financial  statements as either assets or
liabilities  measured at fair value.  SFAS No. 133 also specifies new methods of
accounting for hedging transactions,  prescribes the items and transactions that
may be hedged,  and specifies  detailed  criteria to be met to qualify for hedge
accounting.

The definition of a derivative  financial instrument is complex, but in general,
it is an instrument  with one or more  underlyings,  such as an interest rate or
foreign exchange rate, that is applied to a notional  amount,  such as an amount
of currency,  to determine the settlement  amount(s).  It generally  requires no
significant initial investment and can be settled net or by delivery of an asset
that is  readily  convertible  to cash.  SFAS No.  133  applies  to  derivatives
embedded in other contracts, unless the underlying of the embedded derivative is
clearly and closely related to the host contract.

SFAS No.  133,  as amended  by SFAS No.  137,  is  effective  for  fiscal  years
beginning  after June 15, 2000. On adoption,  entities are permitted to transfer
held-to-maturity  debt securities to the  available-for-sale or trading category
without  calling into  question  their intent to hold other debt  securities  to
maturity in the future.  Management  adopted SFAS No. 133  effective  January 1,
2001, as required,  without material impact on the Company's  financial position
or results of operations.

In September  2000, the FASB issued SFAS No. 140,  "Accounting for Transfers and
Servicing of Financial Assets and Extinguishments of Liabilities," which revises
the  standards  for  accounting  for  securitizations  and  other  transfers  of
financial  assets and collateral and requires certain  disclosures,  but carries
over most of the  provisions of SFAS No. 125 without  reconsideration.  SFAS No.
140  is  effective  for   transfers  and  servicing  of  financial   assets  and
extinguishments of liabilities  occurring after March 31, 2001. The Statement is
effective for recognition and reclassification of collateral and for disclosures
relating to  securitization  transactions and collateral for fiscal years ending
after December 15, 2000.  SFAS No. 140 is not expected to have a material effect
on the Company's financial position or results of operations.

The  foregoing  discussion  of the effects of recent  accounting  pronouncements
contains  forward-looking  statements  that  involve  risks  and  uncertainties.
Changes in economic  circumstances  or interest rates could cause the effects of
the accounting pronouncements to differ from management's foregoing assessment.












                                      -9-
<PAGE>


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

Forward Looking Statements

In addition to historical information contained herein, the following discussion
contains  forward-looking  statements  that  involve  risks  and  uncertainties.
Economic  circumstances,  the  Company's  operations  and the  Company's  actual
results could differ  significantly from those discussed in the  forward-looking
statements.  Some  of the  factors  that  could  cause  or  contribute  to  such
differences  are  discussed  herein but also include  changes in the economy and
interest rates in the nation and the Company's market area generally.

Some of the  forward-looking  statements  included  herein  are  the  statements
regarding management's determination of the amount and adequacy of the allowance
for loan losses, management's assessment of the Company's interest rate risk and
the effect of recent accounting pronouncements.

Discussion  of Financial  Condition  Changes from December 31, 2000 to March 31,
2001

The Company reported total assets of $134.9 million at March 31, 2001,  compared
to $132.6  million at December 31, 2000, an increase of $2.3  million,  or 1.7%.
This  increase  was  funded  by  a  growth  in  deposits  of  $1.9  million  and
undistributed  first quarter  earnings.  Cash and cash equivalents  increased by
approximately  $1.7 million  from $9.2  million at December  31, 2000,  to $10.9
million at March 31, 2001.  Investment and mortgage-backed  securities decreased
by $838,000,  due primarily to maturities and calls of securities  totaling $1.0
million, which were partially offset by securities purchased of $253,000.

Net loans  increased by $1.6 million,  or 1.6%,  from $102.4 million at December
31, 2000 to $104.0  million at March 31,  2001.  Loan  originations  amounted to
$12.3  million  for the three  months  ended  March 31,  2001,  while  principal
repayments  amounted to $10.6  million.  During the three months ended March 31,
2001, loan origination  volume exceeded that of the comparable period in 2000 by
$1.4 million,  or 13.2%. Loan originations  during 2001 were comprised primarily
of  nonresidential  and commercial real estate,  other  commercial  property and
commercial  leases.  The commercial and  nonresidential  loan portfolios totaled
$24.9 million at March 31, 2001, compared to $22.5 million at December 31, 2000.
Originations  of one- to  four-family  residential  loans  totaled $2.5 million,
while repayments were $2.9 million.  The one- to four-family  residential  loans
totaled $62.3 million at December 31, 2000 and $61.9 million at March 31, 2001.

Deposits  totaled  $81.3 million at March 31, 2001, an increase of $1.9 million,
or 2.4%, in the first three months of 2001.  Proceeds  from deposit  growth were
generally  used to fund new loan  originations.  Borrowings  consisted  of $34.0
million of FHLB  advances and a $1.2  million note payable  related to an equity
investment in low income housing.

Shareholders'  equity was $17.4  million at March 31, 2001 and $17.0  million at
December 31, 2000. The payment of dividends decreased equity,  while an increase
in the unrealized  gains on securities  available for sale, net earnings and the
effects of amortization of the stock benefit plan increased equity.




                                      -10-
<PAGE>


Results of Operations

Comparison of the Three Months Ended March 31, 2001 and March 31, 2000

Net  earnings  for the three  months  ended  March 31,  2001  totaled  $301,000,
compared  with $307,000 for the three months ended March 31, 2000, a decrease of
$6,000,  or 2.0%.  Net  interest  income  increased  by $6,000,  while  general,
administrative  and other  expense  increased by $48,000 and taxes  decreased by
$49,000.  The major  contributor to the increase in net interest  income was the
growth in the loan  portfolio the past calendar year.  Interest  income on loans
increased  by  $283,000,  or 15.2%,  for the three  months ended March 31, 2001,
compared to the same  quarter in 2000.  This  increase  was due  primarily to an
$11.2  million,  or 12.0%,  increase  in the  weighted-average  balance of loans
outstanding,  coupled  with an  increase  in the  average  yield  year to  year.
Interest expense on deposits increased by $91,000,  or 10.0%, due primarily to a
$1.2  million,  or 1.5%,  increase in the  weighted-average  balance of deposits
outstanding  and an  increase  in the cost of  deposits  year to year.  Interest
expense on borrowings increased by $195,000,  or 58.4%, due primarily to a $10.3
million,  or 43.2%,  increase  in the  weighted-average  balance  of  borrowings
outstanding  and an increase in the cost of such  borrowings.  The interest rate
spread amounted to 2.96% and 2.87% at March 31, 2001 and 2000, respectively.

The  provision  for losses on loans  totaled  $86,000 for the three months ended
March 31,  2001 and  $71,000  for the three  months  ended  March 31,  2000.  No
properties  were in real estate  owned for the  quarter  ended March 31, 2001 or
March 31, 2000.  Nonperforming  loans amounted to $371,000,  or .36% of loans at
March 31,  2001,  compared to  $336,000,  or .32% of loans at December 31, 2000.
Loan loss  reserves  amounted to  $846,000,  or .81% of total loans at March 31,
2001,  compared to $760,000,  or .73% of total loans at December  31, 2000.  The
increase in the provision for losses on loans was primarily  attributable to the
growth in the loan portfolio and the increasing  percentage of commercial  loans
in the  portfolio.  There can be no assurance  that the Company's  allowance for
loan  losses will be adequate  to cover  losses on  nonperforming  assets in the
future.

Service charges on deposit  accounts  increased by $29,000,  or 90.6%, and other
operating income increased by $8,000, or 18.2%, for the three month period ended
March 31,  2001,  compared  to the 2000  quarter.  However,  an  increase in the
pre-tax loss on the equity investment of $35,000 resulted in an overall increase
of only $2,000 in the other income category.

Total general,  administrative and other expense increased by $48,000,  or 9.9%,
for the  three-month  period ended March 31,  2001,  compared to the same period
ended March 31, 2000.  Employee  compensation  and benefits  decreased by $2,000
compared to the 2000 quarter, which contained additional expenses related to the
retirement of the Company's president. Data processing fees increased by $8,000,
or 20.5%, due to costs associated with loan and deposit growth.  Other operating
expenses increased by $29,000, or 28.2%, compared to the quarter ended March 31,
2000, due primarily to the Company's overall growth year to year.

The provision for income taxes totaled $102,000 for the three months ended March
31, 2001,  a decrease of $49,000,  or 32.5%,  from the same period in 2000.  The
decrease  was due to a $55,000,  or 12.0%,  decrease in pre-tax  earnings and an
increase in tax credits  available.  The  Company's  effective tax rates for the
three-month  periods  ended  March 31,  2001 and  2000,  were  25.3% and  33.0%,
respectively.  The decrease in the effective tax rate was primarily attributable
to tax credits  available from the Company's  investment in a low income housing
partnership.





                                      -11-
<PAGE>


Capital Resources

Pursuant to Office of Thrift Supervision  ("OTS") capital  regulations,  savings
associations  must  currently  meet a 1.5% tangible  capital  requirement,  a 4%
leverage ratio (or core capital)  requirement,  and total risk-based  capital to
risk-weighted  assets  ratio of 8%. At March 31, 2001,  the Bank's  tangible and
leverage  capital  ratios  were  each  11.1%,  and  its  risk-based  capital  to
risk-weighted   assets   ratio  was  18.4%.   Therefore,   the  Bank's   capital
significantly  exceeded all of the capital requirements currently in effect. The
following table provides the minimum  regulatory  capital  requirements  and the
Bank's capital ratios as of March 31, 2001.
<TABLE>
<CAPTION>

Capital Standard            Required            Bank's              Excess
----------------            --------            ------              ------
                                             (In thousands)
<S>                            <C>               <C>               <C>
Tangible (1.5%)               $2,016           $14,939             $12,923
Core (4.0%)                    5,375            14,939               9,564
Risk-based (8.0%)              6,854            15,785               8,931
</TABLE>

Liquidity

The standard measure of liquidity for savings  associations is the ratio of cash
and eligible  investments to a certain  percentage of net  withdrawable  savings
accounts  and  borrowings  due within one year.  The minimum  required  ratio is
currently  set by the  OTS at 4%.  At  March  31,  2001  the  Bank's  regulatory
liquidity ratio was 21.8%.

























                                      -12-
<PAGE>


Item 3.  Quantitative and Qualitative Disclosures About Market Risk


The Bank, like other savings  associations,  is subject to interest rate risk to
the degree that its interest-bearing liabilities,  primarily deposits with short
and  medium-term  maturities,  mature or  reprice  at  different  rates than its
interest-earning  assets.  Management  of the Bank  believes  it is  critical to
manage the relationship  between interest rates and the effect on the Bank's net
portfolio value ("NPV").  Generally,  NPV is the discounted present value of the
difference between incoming cash flows on interest-earning  and other assets and
outgoing cash flows on  interest-bearing  liabilities.  Management of the Bank's
assets and liabilities is done within the context of the marketplace, regulatory
limitations  and within  limits  established  by the Board of  Directors  on the
amount of change in NPV which is acceptable given certain interest rate changes.

The OTS issued a regulation,  effective January 1, 1994, which uses a net market
value  methodology  to  measure  the  interest  rate  risk  exposure  of  thrift
institutions. Under OTS regulations, an institution's "normal" level of interest
rate risk in the event of an assumed change in interest  rates, is a decrease in
the  institution's NPV in an amount not exceeding 2% of the present value of its
assets.  Thrift institutions with over $300 million in assets or less than a 12%
risk-based  capital  ratio are  required  to file OTS  Schedule  CMR.  Data from
schedule  CMR is used by the OTS to  calculate  changes in NPV (and the  related
"normal"  level of interest  rate risk based upon certain  interest rate changes
(discussed  below).  Institutions  which  do  not  meet  either  of  the  filing
requirements  are  not  required  to  file  OTS  Schedule  CMR,  but  may  do so
voluntarily. The Bank does not currently meet either of these requirements,  but
it does voluntarily file Schedule CMR. Presented below, as of December 31, 2000,
the latest  available  date,  is an analysis  performed by the OTS of the Bank's
interest rate risk as measured by changes in NPV for instantaneous and sustained
parallel shifts in the yield curve, in 100 basis point  increments,  up and down
300 basis points and in accordance with OTS  regulations.  As illustrated in the
table,  the Bank's NPV is more sensitive to rising rates than  declining  rates.
This occurs principally  because,  as rates rise, the market value of the Bank's
investments, adjustable-rate mortgage loans (many of which have maximum per year
adjustments of 1%), fixed-rate loans and mortgage-backed securities declines due
to the rate increase.  The value of the Bank's deposits and borrowings change in
approximately the same proportion in rising and falling rate scenarios.

<TABLE>
<CAPTION>

Change                              Net Portfolio Value                NPV as % of PV of Assets
In Rates      $ Amount          $ Change           % Change           NPV Ratio           Change
                 (Dollars in thousands)
<S>                <C>              <C>               <C>                <C>                <C>
+300bp           $12,013         $(5,986)             (33)%               9.49%            -395bp
+200bp            14,618          (3,381)             (19)%              11.27%            -217bp
+100bp            16,476          (1,523)              (8)%              12.49%             -95bp
     -            17,999              -                 -                13.44%               -
-100bp            19,081           1,082                6%               14.09%             +65bp
-200bp            20,210           2,211               12%               14.75%            +131bp
-300bp            21,696           3,697               21%               15.61%            +217bp
</TABLE>










                                      -13-
<PAGE>


Interest Rate Risk Measures: 200 Basis Point (bp) Rate Shock

Pre-shock NPV Ratio: NPV as % of PV of Assets                          13.44%
Exposure Measure: Post-Shock NPV Ratio                                 11.27%
Sensitivity Measure: Change in NPV Ratio                                217bp

As with any method of measuring  interest rate risk,  certain  shortcomings  are
inherent  in the  method of  analysis  presented  in the  foregoing  table.  For
example,  although certain assets and liabilities may have similar maturities or
periods to repricing,  they may react in different  degrees to changes in market
interest  rates.  Also,  the  interest  rates on  certain  types of  assets  and
liabilities may fluctuate in advance of changes in market interest rates,  while
interest  rates  on  other  types  may  lag  behind  changes  in  market  rates.
Additionally, certain assets, such as adjustable-rate loans, have features which
restrict  changes in interest  rates on a short-term  basis and over the life of
the asset.  Further, in the event of a change in interest rates,  expected rates
of prepayments on loans and early  withdrawals  from  certificates  could likely
deviate significantly from those assumed in calculating the table.





























                                      -14-
<PAGE>


Part II.  OTHER INFORMATION

Item 1.  Legal Proceedings

Neither the Bank nor the Company were, during the three-month period ended March
31, 2001, or are as of the date hereof involved in any legal proceeding of a
material nature. From time to time, the Bank is a party to legal proceedings
wherein it enforces its security interests in connection with its mortgage and
other loans.


Item 6.  Exhibits and Reports on Form 8-K

         (a)      Exhibits.

         The following exhibits are attached to this report on Form 10-Q:

                  3.1      The  Articles of  Incorporation of the Registrant are
                           incorporated  by  reference  to  Exhibit  3.1  to the
                           Registration  Statement on Form S-1 (Registration No.
                           33-89788).

                  3.2      The Code of By-Laws of the Registrant is incorporated
                           by reference to  Exhibit 3.2 to the Form 10-Q for the
                           period   ended  March  31,  1997,   filed   with  the
                           Commission on August 13, 1997.

                  10.1     Employment  Agreement  between  Logansport  Financial
                           Corp. and David G. Wihebrink.


         (b)      Reports on Form 8-K.

          The Registrant  filed no reports on Form 8-K during the fiscal quarter
          ended March 31, 2001.

























                                      -15-
<PAGE>



Signatures

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

                                           Logansport Financial Corp.



Date:   May 14, 2001                       By:/s/ David G. Wihebrink
     ------------------                       ---------------------------------
                                              David G. Wihebrink, President and
                                              Chief Executive Officer


Date:   May 14, 2001                       By:/s/ Dottye Robeson
     ------------------                       ---------------------------------
                                              Dottye Robeson, Secretary and
                                              Treasurer

































                                      -15-