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 SEPTEMBER 30, 1999 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
November 1, 1999 was 1,199,210.








                                  Page 1 of 17


<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 September 30, 1999
           (Unaudited) and December 31, 1998

         Consolidated  Statements  of  Earnings
          for the three and nine months ended September 30,
          1999 and 1998 (Unaudited)

         Consolidated  Statements of Shareholders'
          Equity for the nine months ended
          September 30, 1999 and 1998 (Unaudited)

         Consolidated  Statements  of Cash  Flows
          for the nine months ended September 30, 1999
          and 1998 (Unaudited)

         Notes to Consolidated  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       14

PART II. OTHER INFORMATION

Item 1.  Legal Proceedings                                                16

Item 6.  Exhibits and Reports of Form 8-K                                 16

SIGNATURES                                                                17












                                        2


<PAGE>

<TABLE>

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

                                                                       September 30,            December 31,
          ASSETS                                                                1999                    1998

<S>                                                                            <C>                     <C>
Cash and due from banks                                                     $  1,772                 $   363
Interest-bearing deposits in other financial institutions                      3,769                   3,965
                                                                             -------                  ------
         Cash and cash equivalents                                             5,541                   4,328

Investment securities available for sale-at market                             8,278                   5,033
Mortgage-backed securities available for sale-at market                        6,214                   8,129
Loans receivable-net                                                          87,042                  73,073
Office premises and equipment-at depreciated cost                              1,914                   1,528
Federal Home Loan Bank stock- at cost                                          1,024                     568
Investment in real estate partnership                                          1,512                   1,566
Accrued interest receivable on loans                                             417                     337
Accrued interest receivable on mortgage-backed securities                         52                      66
Accrued interest receivable on investments                                       130                      62
Prepaid expenses and other assets                                                 42                      36
Cash surrender value of life insurance                                         1,167                   1,135
Prepaid income tax                                                               110                      29
Deferred income tax asset                                                        362                     195
                                                                             -------                  ------
Total assets                                                                $113,805                 $96,085
                                                                             =======                  ======

         LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits                                                                    $ 76,819                 $70,011
Advances from the Federal Home Loan Bank                                      18,000                   7,000
Notes payable                                                                  1,307                   1,375
Accrued interest and other liabilities                                           976                   1,211
                                                                             -------                  ------
Total liabilities                                                             97,102                  79,597

Shareholders' equity
  Common stock                                                                 6,675                   6,670
  Retained earnings-restricted                                                10,507                  10,031
  Less shares acquired by stock benefit plan                                    (272)                   (368)
  Unrealized gains (losses) on securities designated as
    available for sale, net of related tax effects                              (207)                    155
                                                                             -------                  ------
Total shareholders' equity                                                    16,703                  16,488
                                                                             -------                  ------

Total liabilities and shareholders' equity                                  $113,805                 $96,085
                                                                             =======                  ======

</TABLE>






                                        3


<PAGE>

<TABLE>

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

                                                                       Three months ended            Nine months ended
                                                                         September 30,                  September 30,
                                                                     1999             1998            1999         1998
<S>                                                                  <C>              <C>            <C>            <C>
Interest income
  Loans                                                            $1,658           $1,401          $4,707       $4,102
  Mortgage-backed securities                                           96              130             316          412
  Investment securities                                               122               54             285          190
  Interest-bearing deposits and other                                  69               79             188          187
                                                                    -----            -----           -----        -----
         Total interest income                                      1,945            1,664           5,496        4,891

Interest expense
  Deposits                                                            860              799           2,432        2,293
  Borrowings                                                          200               95             453          284
                                                                    -----            -----           -----        -----
         Total interest expense                                     1,060              894           2,885        2,577
                                                                    -----            -----           -----        -----

         Net interest income                                          885              770           2,611        2,314
Provision for losses on loans                                          41               13             122           31
                                                                    -----            -----           -----        -----
         Net interest income after provision for
           losses on loans                                            844              757           2,489        2,283

Other income
  Service charges on deposit accounts                                  40               26             102           69
  Loss on sale of investments and mortgage-backed securities           -                (3)             -            -
  Gain on sale of real estate acquired through foreclosure             -                -               -             6
  Loss on equity investment                                           (36)              -              (86)
  Other operating                                                      40               37             106          107
                                                                    -----            -----           -----        -----
         Total other income                                            44               60             122          182

General, administrative and other expense
  Employee compensation and benefits                                  222              177             666          536
  Occupancy and equipment                                              41               22             117           58
  Federal deposit insurance premiums                                   10                9              30           28
  Data processing                                                      38               30             110           81
  Other operating                                                      86               82             320          254
                                                                    -----            -----           -----        -----
         Total general, administrative and other expense              397              320           1,243          957
                                                                    -----            -----           -----        -----

         Earnings before income taxes                                 491              497           1,368        1,508
Income tax expense                                                    173              189             497          571
                                                                    -----            -----           -----        -----

         NET EARNINGS                                              $  318           $  308          $  871       $  937
                                                                    =====            =====           =====        =====
Other comprehensive income, net of tax
Unrealized gains (losses) on securities, net of tax                  (132)              47            (362)          59
                                                                    -----            -----           -----        -----
COMPREHENSIVE INCOME                                               $  186           $  355          $  509       $  996
                                                                    =====            =====           =====        =====
EARNINGS PER SHARE
  Basic (based on net earnings)                                      $.27             $.24            $.73         $.74
                                                                      ===              ===             ===          ===
  Diluted (based on net earnings)                                    $.27             $.24            $.72         $.72
                                                                      ===              ===             ===          ===
</TABLE>



                                        4


<PAGE>

<TABLE>

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

                                                                            Nine months ended
                                                                               September 30,
                                                                          1999                  1998
<S>                                                                        <C>                  <C>
Balance at January 1                                                   $16,488               $16,542

Issuance of shares under stock option plan                                   5                     9

Purchase of shares for stock benefit plan                                   -                    (93)

Amortization of stock benefit plan                                          96                    93

Purchase of shares                                                          -                   (946)

Cash dividends of $.33 per share in 1999 and $.32 in 1998                 (395)                 (400)

Unrealized gains (losses) on securities designated as
available for sale, net of related tax effects                            (362)                   59

Net earnings                                                               871                   937
                                                                        ------                ------

Balance at September 30                                                $16,703               $16,201
                                                                        ======                ======

Accumulated other comprehensive income                                 $  (207)              $   119
                                                                        ======                ======

</TABLE>























                                        5


<PAGE>

<TABLE>

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

                                                                                    Nine months ended
                                                                                     September 30,
                                                                               1999                  1998
<S>                                                                            <C>                    <C>
Cash flows from operating activities:
  Net earnings for the period                                               $   871               $   937
  Adjustments to reconcile net earnings to net cash
  provided by (used in) operating activities:
    Depreciation and amortization                                                59                    28
    Amortization of premiums on investments and
      mortgage-backed securities                                                 85                   142
    Amortization expense of stock benefit plan                                   96                    93
    Provision for losses on loans                                               122                    31
    Loss of equity investment                                                    86                     -
    Gain on sale of real estate acquired through foreclosure                     -                     (6)
    Increase (decrease) in cash, due to changes in:
      Accrued interest receivable on loans                                      (80)                  (24)
      Accrued interest receivable on mortgage-backed securities                  14                    14
      Accrued interest receivable on investments                                (68)                   81
      Prepaid expenses and other assets                                          (6)                   (9)
      Accrued interest and other liabilities                                   (235)                   58
      Federal income taxes
        Current                                                                 (81)                  (89)
        Deferred                                                                 20                    22
                                                                             ------                ------
         Net cash provided by operating activities                              883                 1,278

Cash flows provided by (used in) investing activities:
  Proceeds from certificates of deposit in other institutions                    -                    100
  Purchase of investment securities                                          (4,020)                 (400)
  Maturities/calls of investment securities                                     375                 2,655
  Purchase of Federal Home Loan Bank stock                                     (456)                  (74)
  Proceeds from sale of mortgage-backed securities                               -                  1,177
  Purchase of mortgage-backed securities                                         -                 (3,039)
  Principal repayments on mortgage-backed securities                          1,681                 2,673
  Loan disbursements                                                        (31,653)              (18,550)
  Investment in real estate partnership                                         (32)                  (20)
  Principal repayments on loans                                              17,562                12,763
  Purchases and additions to office premises and equipment                     (445)                 (278)
  Proceeds from sale of real estate acquired through foreclosure                 -                      4
  Increase in cash surrender value of life insurance policy                     (32)                  (31)
                                                                             ------                ------
         Net cash used in investing activities                              (17,020)               (3,020)
                                                                             ------                ------
</TABLE>








                                        6


<PAGE>

<TABLE>

                           LOGANSPORT FINANCIAL CORP.
<CAPTION>
                      Consolidated Statements of Cash Flows
                                   (Unaudited)
                                 (In thousands)
                                                                                    Nine months ended
                                                                                     September 30,
                                                                               1999                  1998
<S>                                                                            <C>                    <C>
Cash flows provided by (used in) financing activities:
  Net increase in deposit accounts                                          $ 6,808                $6,826
  Proceeds from Federal Home Loan Bank advances                              24,000                 5,500
  Repayment of Federal Home Loan Bank advances                              (13,000)               (5,500)
  Repayment of note payable                                                     (68)                  (75)
  Proceeds from the exercise of stock options                                     5                     9
  Purchase of shares for stock benefit plan                                      -                    (93)
  Purchase of shares                                                             -                   (946)
  Dividends on common stock                                                    (395)                 (400)
                                                                             ------                 -----
         Net cash provided by financing activities                           17,350                 5,321
                                                                             ------                 -----

Net increase in cash and cash equivalents                                     1,213                 3,579

Cash and cash equivalents, beginning of period                                4,328                 2,269
                                                                             ------                 -----

Cash and cash equivalents, end of period                                    $ 5,541                $5,848
                                                                             ======                 =====


Supplemental disclosure of cash flow information:
 Cash paid during the year for:
    Interest on deposits and borrowings                                     $ 2,872                $2,560
                                                                             ======                 =====

    Income taxes                                                            $   559                $  675
                                                                             ======                 =====

    Dividends payable at end of period                                      $   132                $  135
                                                                             ======                 =====

    Foreclosed mortgage loans transferred to
      real estate acquired through foreclosure                              $    -                 $   54
                                                                             ======                 =====

    Loan originated through sales of real estate owned                      $    -                 $  148
                                                                             ======                 =====


</TABLE>













                                        7


<PAGE>


              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS



NOTE A:  Basis of Presentation

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

The unaudited interim  consolidated  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 generally accepted accounting principles
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,  1998.  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 September 30, 1999,
results of operations  for the three and nine month periods ended  September 30,
1999 and 1998 and  cash  flows  for the  three  and  nine  month  periods  ended
September 30, 1999 and 1998.


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  1,199,005 and 1,259,225 for the nine month periods ended  September 30,
1999 and 1998,  respectively  and  1,199,210  and  1,255,155 for the three month
periods ended September 30, 1999 and 1998,  respectively.  Diluted  earnings per
share is computed  taking  into  consideration  common  shares  outstanding  and
dilutive  potential  common shares to be issued under the Company's stock option
plan.   Weighted-average  common  shares  deemed  outstanding  for  purposes  of
computing  diluted  earnings per share  totaled  1,213,148 and 1,305,333 for the
nine months ended September 30, 1999 and 1998,  respectively,  and 1,202,566 and
1,294,506 for the three months ended September 30, 1999 and 1998, respectively.

Incremental  shares related to the assumed exercise of stock options included in
the computation of diluted  earnings per share totaled 14,143 and 46,108 for the
nine month periods ended  September 30, 1999 and 1998,  and 3,356 and 39,351 for
the three month periods ended September 30, 1999 and 1998, respectively.

A cash  dividend of $.11 per common  share was  declared on  September  1, 1999,
payable on October 8, 1999, to stockholders of record as of September 17, 1999.


NOTE C: Recent Accounting Pronouncements

In June 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.



                                        8



<PAGE>


        NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (CONTINUED)



NOTE C: Recent Accounting Pronouncements (continued)

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.  SFAS No. 133 is not expected to have a material  impact
on the Company's financial statements.



































                                        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  losses on loans,  the  effect  of the year 2000 on  information  technology
systems and the effect of certain recent accounting pronouncements.

Financial Condition

Total assets were $113.8 million at September 30, 1999 compared to $96.1 million
at December 31, 1998,  an increase of $17.7 million or 18.4 %. This increase was
funded  primarily from $11.0 million of additional FHLB borrowings and growth in
deposits of $6.8 million.  Cash and cash equivalents  increased by $1.2 million,
from $4.3 million at December  31, 1998 to $5.5  million at September  30, 1999.
The growth in assets was  reinvested in new loans.  Paybacks of  mortgage-backed
securities  were  reinvested  in investment  securities  and the total amount of
investments increased by $1.3 million from $13.2 million at December 31, 1998 to
$14.5 million at September 30, 1999.

Net loans increased  $14.0 million,  or 19.1%, to $87.0 million at September 30,
1999.  Loan  originations  amounted to $31.7  million for the nine months  ended
September 30, 1999, with payoffs  equaling $17.6 million.  Loan demand continued
to be  strong,  as  origination  volume in 1999  exceeded  that of 1998 by $13.1
million, or 70.6%.

Deposits  were $76.8  million at September 30, 1999 compared to $70.0 million at
December  31,  1998,  an increase of $6.8  million,  or 9.7 %, in the first nine
months of 1999.  Borrowings  consisted of $18.0  million of FHLB  advances and a
$1.3 million note payable related to an equity investment in low-income housing.

Shareholders'  equity was $16.7  million at September 30, 1999 and $16.5 million
at December 31, 1998.  The payment of dividends  combined with a decrease in the
market value of available for sale  securities  resulted in a decrease in equity
of $757,000. Equity was increased by $972,000 from net earnings coupled with the
effects of  amortization  of the stock  benefit  plan and the  exercise of stock
options.










                                       10


<PAGE>


Results of Operations

Comparison of the Nine Months Ended September 30, 1999 and September 30, 1998

Net earnings for the Company for the nine months ended  September  30, 1999 were
$871,000  compared  with  $937,000 for nine months ended  September  30, 1998, a
decrease of $66,000 , or 7.0%.  Net interest  income  increased  $297,000  while
general,   administrative  and  other  expenses  increased  $286,000  and  taxes
decreased $74,000.  The major contributor to the increase in net interest income
was the growth in the loan portfolio  during the past twelve months.  Loans were
$87.0  million at September  30, 1999 compared to $69.5 million at September 30,
1998.  The  impact of such  growth  was  offset by a decline in the yield on the
mortgage and consumer loan portfolio by 32 basis points from an average yield of
8.09% at  September  30,  1998 to 7.77% at  September  30,  1999;  however,  the
addition of $11.4 million of  commercial  loans in the past year with an average
interest rate of 8.32% at September 30, 1999  contributed  significantly  to the
increase in interest income.

The provision  for loan losses was $122,000 for the nine months ended  September
30, 1999 and $31,000 for the nine months ended  September  30, 1998.  Additional
provisions  were  made due to  growth  in the loan  portfolio  coupled  with the
development  of a commercial  loan  portfolio,  which  totaled  $11.4 million at
September 30, 1999. Non-performing loans increased to $472,000, or .54% of loans
at  September  30, 1999 from  $315,000,  or .42% of loans at December  31, 1998,
substantially  all of which were  comprised of one- to  four-family  residential
properties or consumer loans.  Loan loss reserves  amounted to $405,000 or .46 %
of total loans at September 30, 1999  compared to $285,000,  or .38% at December
31, 1998.

Although  management  believes  that it uses the best  information  available in
providing  for possible  loan losses and believes that the allowance is adequate
at September 30, 1999,  future  adjustments to the allowance  could be necessary
and net earnings could be affected if circumstances  and/or economic  conditions
differ   substantially   from  the  assumptions   used  in  making  the  initial
determinations.

Total other income increased by $26,000,  or 14.3%, during the nine months ended
September  30,  1999,  excluding  the effect of an $86,000  pre-tax loss from an
equity investment in a low income housing tax credit investment which is renting
slower than projected. Service charges on deposit accounts increased by $33,000.

Total general,  administrative and other expenses increased $286,000,  or 29.9%,
in the nine months ended  September  30, 1999  compared to  September  30, 1998.
Employee  compensation  and  benefits  increased  $130,000  or 24.3%  because of
additional personnel needed in the new facility and the addition of a commercial
lending department.  Data processing fees increased $29,000, or 35.8%, partially
due to loan and deposit growth,  and occupancy and equipment  expense  increased
$59,000,  or 101.7%,  mainly  because of increased  depreciation  related to the
purchase of new computer equipment and the completion of a new banking facility.
Other operating expenses increased by $66,000, or 26.0%,  primarily due to a one
time non-recurring charge of $35,000 related to deposit operations.

The Company's  effective  tax rate for the nine months ended  September 30, 1999
was 36.3% and was 37.9% for the nine months ended September 30, 1998.



                                       11


<PAGE>


Results of Operations

Comparison of the Three Months Ended September 30, 1999 and September 30, 1998

Net earnings for the Company for the three months ended  September 30, 1999 were
$318,000  compared  with  $308,000 for three months ended  September 30, 1998, a
increase  of $10,000 or 3.2%.  Net  interest  income  increased  $115,000  while
general, administrative and other expenses increased $77,000 and taxes decreased
$16,000.  The major  contributor to the increase in net interest  income was the
growth in the loan portfolio during the past twelve months.

The provision  for loan losses was $41,000 for the three months ended  September
30, 1999 and $13,000 for the three months ended  September 30, 1998.  Additional
provisions  were  made due to  growth  in the loan  portfolio  coupled  with the
development of a commercial loan portfolio.

Although  management  believes  that it uses the best  information  available in
providing  for possible  loan losses and believes that the allowance is adequate
at September 30, 1999,  future  adjustments to the allowance  could be necessary
and net earnings could be affected if circumstances  and/or economic  conditions
differ   substantially   from  the  assumptions   used  in  making  the  initial
determinations.

Total other income was impacted  negatively by the  pass-through of a loss on an
equity investment as noted above; however, service charges increased $14,000, or
53.8%.

Total general, administrative and other expenses increased $77,000, or 24.1%, in
the three  months  ended  September  30, 1999  compared to  September  30, 1998.
Employee  compensation  and  benefits  increased  by  $45,000,  or 25.4%  due to
additional  personnel.  Data processing fees increased  $8,000, or 26.7%, due to
loan and deposit growth.  Occupancy and equipment expense increased $19,000,  or
86.4%, mainly because of increased  depreciation  related to the purchase of new
computer  equipment  and the  completion of a new banking  facility,  along with
increased property tax accruals and increases in various utility expenses. Other
operating expenses increased by only $4,000, or 4.9%.

The Company's  effective tax rate for the three months ended  September 30, 1999
was 35.2% and was 38.0% for the three  months  ended  September  30,  1998.  The
Company's effective tax rate is decreasing slightly due to tax credits available
from the equity investment.


Capital Resources

Pursuant to OTS capital regulations,  savings associations must currently meet a
1.5%  tangible  capital  requirement,  a 4%  leverage  ratio  (or core  capital)
requirement, and a total risk-based capital to risk-weighted assets ratio of 8%.
At  September  30,  1999,  the Bank's  tangible  capital  ratio was 14.74%,  its
leverage ratio was14.74%,  and its risk-based  capital to  risk-weighted  assets
ratio was 25.06%.  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
September 30, 1999.

Capital Standard              Required          Bank's            Excess
                                           (In thousands)

Tangible (1.5%)                $1,705           $16,756           $15,051
Core (4.0%)                     4,548            16,756            12,208
Risk-based (8.0%)               5,479            17,161            11,682


                                       12


<PAGE>



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 Office of Thrift  Supervision  at 4%. At September 30, 1999
the Bank's regulatory liquidity ratio was 25.65%.


Year 2000 Compliance Matters

As with all  providers of  financial  services,  the  Company's  operations  are
heavily dependent on information  technology systems. The Bank is addressing the
potential  problems  associated  with the  possibility  that the computers  that
control or operate the Bank's information  technology systems and infrastructure
may not be  programmed  to read  four-digit  date codes and, upon arrival of the
year 2000,  may  recognize  the  two-digit  code "00" as the year 1900,  causing
systems to fail to function or to generate  erroneous  data. The Bank is working
with the companies that supply or service its information  technology systems to
identify and remedy any year 2000 related problems.

Management and the Board of Directors recognize and understand year 2000 ("Y2K")
risks, are active in overseeing  corrective  efforts,  and are ensuring that all
necessary  resources  are  available  to address  the  problem.  The  awareness,
assessment,  and  testing  phases  of the  Company's  year  2000  plan have been
completed.  The  Company's  business and its Y2K  readiness are dependent on the
readiness  of its  vendors.  The Company  has  prepared a  contingency  plan and
continuing  testing to validate its readiness.  The Company's data processing is
performed  primarily by a third party  servicer.  The Company also uses software
and hardware  which are covered under  maintenance  agreements  with third party
vendors.  The Company has contacted  each vendor to request time tables for such
vendor's year 2000 compliance and the expected costs, if any, to be passed along
to the Company.  The Company has been informed that its primary service provider
is on schedule and testing has been completed.

The Company has replaced or upgraded all equipment to be year 2000  compliant at
a cost of less than $45,000. As of September 30, 1999,  management has developed
an estimate of expenses that are reasonably likely to be incurred by the Bank in
connection with the Y2K issue; however, the Company does not expect to incur any
significant  additional expenses to implement necessary corrective measures, and
additional  costs  related to the Y2K issues are not expected to have a material
impact on the Company's 1999 financial statements.

Should the Company's data center become unable to provide the necessary services
upon arrival of the year 2000, the Company has developed a contingency  plan and
will have the capability to account for transactions on a manual basis until the
data center returns to normal  operations.  Additional testing of this plan will
continue in the third quarter of 1999.

In addition  to possible  expenses  related to its own  systems,  the Bank could
incur losses if loan  payments are delayed due to year 2000  problems  affecting
any major  borrowers in the Bank's primary market area.  Because the Bank's loan
portfolio is highly diversified with regard to individual borrowers and types of
businesses,  and the Bank's primary market areas are not significantly dependent
upon any one employer or industry,  the Bank does not expect any  significant or
prolonged difficulties that will affect net earnings or cash flow.



                                       13


<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 Office of Thrift Supervision ("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
June 30, 1999, 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        13,090         -4,922         -27%            12.84%         -380bp
+200bp        15,064         -2,948         -16%            14.43%         -220bp
+100bp        16,761         -1,251          -7%            15.74%          -90bp
   0bp        18,012                                        16.64%
-100bp        18,738            726          +4%            17.10%          +47bp
-200bp        19,232          1,219          +7%            17.38%          +74bp
-300bp        19,947          1,935         +11%            17.81%         +117bp
</TABLE>


Interest Rate Risk Measures: 200 Basis Point (bp) Rate Shock
Pre-shock NPV Ratio: NPV as % of PV of Assets        16.64%
Exposure Measure: Post-Shock NPV Ratio               14.43%
Sensitivity Measure: Change in NPV Ratio             220bp



                                       14


<PAGE>


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.












































                                       15


<PAGE>


Part II.  OTHER INFORMATION
Item 1.  Legal Proceedings

Neither the Bank nor the  Company  were,  during the  three-month  period  ended
September  30,  1999,  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 June 30, 1997, filed with the Commission
                           on August 13, 1997.
                  27       Financial  Data  Schedule for the nine  month  period
                           ended September 30, 1999.

         (b)      Reports on Form 8-K
                           The  Registrant  filed no  reports on Form 8-K during
                           the fiscal quarter ended September 30, 1999.





























                                       16


<PAGE>


Signatures


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

                                           Logansport Financial Corp.



Date:   November 12, 1999                  By:/s/ Thomas G. Williams
      ----------------------                  ---------------------------------
                                              Thomas G. Williams, President and
                                              Chief Executive Officer


Date:   November 12, 1999                  By:/s/ Dottye Robeson
      ----------------------                  ---------------------------------
                                              Dottye Robeson, Secretary and
                                              Treasurer



































                                       17