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, 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
May 1, 1999 was 1,199,091.








                                  Page 1 of 15


<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, 1999
             (Unaudited) and December 31, 1998

           Consolidated Statements of Earnings
             for the three months ended March 31,
             1999 and 1998  (Unaudited)

           Consolidated Statements of Shareholders'
             Equity for the three months ended 
             March 31, 1999 and 1998 (Unaudited)

           Consolidated Statements of Cash Flows for 
             the three months ended March 31, 1999 
             and 1998 (Unaudited)

           Notes to Consolidated  Financial Statements                       8

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

Item 3.   Quantitative and Qualitative Disclosures About Market Risk        11

PART II. OTHER INFORMATION

Item 1.    Legal Proceedings                                                14

Item 6.    Exhibits and Reports of Form 8-K                                 14

SIGNATURES                                                                  15















                                        2


<PAGE>

<TABLE>
<CAPTION>

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

                                                                      March 31,            December 31,
                                                                           1999                    1998

         ASSETS
<S>                                                                       <C>                       <C>
Cash and due from banks                                                 $   741                 $   363
Interest-bearing deposits in other financial institutions                 3,666                   3,965
                                                                         ------                  ------
         Cash and cash equivalents                                        4,407                   4,328

Investment securities available for sale-at market                        5,645                   5,033
Mortgage-backed securities available for sale-at market                   7,431                   8,129
Loans receivable-net                                                     76,425                  73,073
Office premises and equipment-at depreciated cost                         1,801                   1,528
Federal Home Loan Bank stock- at cost                                       624                     568
Investment in real estate partnership                                     1,587                   1,566
Accrued interest receivable on loans                                        335                     337
Accrued interest receivable on mortgage-backed securities                    57                      66
Accrued interest receivable on investments                                   92                      62
Prepaid expenses and other assets                                            41                      36
Cash surrender value of life insurance                                    1,146                   1,135
Prepaid income tax                                                           -                       29
Deferred income tax asset                                                   228                     195
                                                                         ------                  ------

Total assets                                                            $99,819                 $96,085
                                                                         ======                  ======

         LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits                                                                $70,833                 $70,011
Advances from the Federal Home Loan Bank                                 10,000                   7,000
Notes payable                                                             1,307                   1,375
Accrued interest and other liabilities                                      981                   1,211
Accrued income taxes                                                         92                      - 
                                                                         ------                  ------
Total liabilities                                                        83,213                  79,597

Shareholders' equity
  Common stock                                                            6,670                   6,670
  Retained earnings-restricted                                           10,181                  10,031
  Less shares acquired by stock benefit plan                               (335)                   (368)
  Unrealized gains on securities designated as
    available for sale, net of related tax effects                           90                     155
                                                                         ------                  ------
Total shareholders' equity                                               16,606                  16,488
                                                                         ------                  ------

Total liabilities and shareholders' equity                              $99,819                 $96,085
                                                                         ======                  ======
</TABLE>


                                        3


<PAGE>

<TABLE>
<CAPTION>

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

                                                                        Three months ended
                                                                              March 31,
                                                                         1999         1998
<S>                                                                      <C>           <C>
Interest income
  Loans                                                                $1,486       $1,316
  Mortgage-backed securities                                              112          152
  Investment securities                                                    73           75
  Interest-bearing deposits and other                                      59           45
                                                                        -----        -----
         Total interest income                                          1,730        1,588

Interest expense
  Deposits                                                                773          732
  Borrowings                                                              102           94
                                                                        -----        -----
         Total interest expense                                           875          826
                                                                        -----        -----

         Net interest income                                              855          762
Provision for losses on loans                                              41            9
                                                                        -----        -----
         Net interest income after provision for
           losses on loans                                                814          753

Other income
  Service charges on deposit accounts                                      30           19
  Other operating                                                          36           33
                                                                        -----        -----
         Total other income                                                66           52

General, administrative and other expense
  Employee compensation and benefits                                      219          175
  Occupancy and equipment                                                  32           19
  Federal deposit insurance premiums                                       10           10
  Data processing                                                          36           26
  Other operating                                                         129           87
                                                                        -----        -----
         Total general, administrative and other expense                  426          317
                                                                        -----        -----

         Earnings before income taxes                                     454          488
Income tax expense                                                        172          184
                                                                        -----        -----

         NET EARNINGS                                                  $  282       $  304
                                                                        =====        =====
Other comprehensive income, net of tax:
  Unrealized gains (losses) on securities available for sale              (65)          31
                                                                        -----        -----

COMPREHENSIVE INCOME                                                   $  217       $  335
                                                                        =====        =====

EARNINGS PER SHARE
  Basic (based on net earnings)                                          $.24         $.24
                                                                          ===          ===

  Diluted (based on net earnings)                                        $.23         $.23
                                                                          ===          ===

</TABLE>


                                        4


<PAGE>

<TABLE>
<CAPTION>

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

                                                                           Three months ended
                                                                               March 31,
                                                                      1999                  1998
<S>                                                                  <C>                     <C>
Balance at January 1                                               $16,488               $16,542

Issuance of shares under stock option plan                              -                      2

Amortization of stock benefit plan                                      33                    31

Cash dividends of $.10 per share                                      (132)                 (126)

Unrealized gains (losses) on securities designated as
available for sale, net of related tax effects                         (65)                   31

Net earnings                                                           282                   304
                                                                    ------                ------

Balance at March 31                                                $16,606               $16,784
                                                                    ======                ======


Accumulated other comprehensive income                             $    90               $    91
                                                                    ======                ======

</TABLE>



























                                        5


<PAGE>

<TABLE>
<CAPTION>

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

                                                                                 Three months ended
                                                                                     March 31,
                                                                            1999                  1998
<S>                                                                         <C>                    <C>
Cash flows from operating activities:
  Net earnings for the period                                             $  282                $  304
  Adjustments to reconcile net earnings to net cash
  provided by (used in) operating activities:
    Depreciation and amortization                                             14                     9
    Amortization of premiums on investments and
      mortgage-backed securities                                              34                    42
    Amortization expense of stock benefit plan                                33                    31
    Provision for losses on loans                                             41                     9
    Increase (decrease) in cash, due to changes in:
      Accrued interest receivable on loans                                     2                    23
      Accrued interest receivable on mortgage-backed securities                9                     3
      Accrued interest receivable on investments                             (30)                   72
      Prepaid expenses and other assets                                       (5)                   (3)
      Accrued interest and other liabilities                                (230)                   12
      Federal income taxes
        Current                                                              121                   (30)
        Deferred                                                              -                      8
                                                                           -----                 -----
         Net cash provided by operating activities                           271                   480

Cash flows provided by (used in) investing activities:  
  Purchase of investment securities                                         (800)                 (100)
  Maturities/calls of investment securities                                  100                 1,255
  Purchase of Federal Home Loan Bank stock                                   (56)                   - 
  Proceeds from sale of mortgage-backed securities                            -                    297
  Purchase of mortgage-backed securities                                      -                 (1,084)
  Principal repayments on mortgage-backed securities                         654                   725
  Loan disbursements                                                      (8,744)               (6,029)
  Investment in real estate partnership                                      (21)                   (7)
  Principal repayments on loans                                            5,351                 4,210
  Purchases and additions to office premises and equipment                  (287)                  (16)
  Increase in cash surrender value of life insurance policy                  (11)                  (11)
                                                                           -----                 -----
         Net cash used in investing activities                            (3,814)                 (760)

</TABLE>











                                        6


<PAGE>

<TABLE>
<CAPTION>

                           LOGANSPORT FINANCIAL CORP.
                      Consolidated Statements of Cash Flows
                                   (Unaudited)
                                 (In thousands)
                                                                                 Three months ended
                                                                                      March 31,
                                                                            1999                  1998
<S>                                                                         <C>                    <C>
Cash flows provided by (used in) financing activities:
  Net increase in deposit accounts                                        $  822                $2,735
  Proceeds from Federal Home Loan Bank advances                            3,000                    - 
  Repayment of note payable                                                  (68)                  (75)
  Proceeds from the exercise of stock options                                 -                      2
  Dividends on common stock                                                 (132)                 (126)
                                                                           -----                 -----
         Net cash provided by financing activities                         3,622                 2,536
                                                                           -----                 -----

Net increase in cash and cash equivalents                                     79                 2,256

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

Cash and cash equivalents, end of period                                  $4,407                $4,525
                                                                           =====                 =====


Supplemental disclosure of cash flow information:
  Cash paid during the year for:
    Interest on deposits and borrowings                                   $  865                $  810
                                                                           =====                 =====

  Income taxes                                                            $   50                $  214
                                                                           =====                 =====

  Dividends payable at end of period                                      $  132                $  126
                                                                           =====                 =====

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

  Unrealized gains (losses) on securities designated as
    available for sale, net of related tax effects                        $  (65)               $   31
                                                                           =====                 =====



</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 March 31, 1999, results
of operations for the three month periods ended March 31, 1999 and 1998 and cash
flows for the three month periods ended March 31, 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 1,198,710 and 1,261,072 for the three month periods ended March 31, 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
1,223,706  and  1,308,043  for the three  months  ended March 31, 1999 and 1998,
respectively.

A cash dividend of $.11 per common share was declared on March 9, 1999,  payable
on April 9, 1999, to stockholders of record as of March 19, 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.

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 is effective  for fiscal years  beginning  after June 15, 1999.  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.


                                        8


<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 $99.8  million at March 31, 1999  compared to $96.1 million at
December 31, 1998, an increase of $3.7 million or 3.9%. This increase was funded
primarily from  additional  FHLB  borrowings and growth in deposits of $822,000.
Cash and cash  equivalents  increased by $79,000,  from $4.3 million at December
31, 1998 to $4.4 million at March 31, 1999.  The growth in assets was reinvested
in new loans. Mortgage-backed securities experienced accelerated pay backs which
resulted in a decrease in the yield in the investment  portfolio.  Paybacks were
reinvested in investment securities and the total amount of investments remained
comparable to the total at December 31, 1998.

Net loans  increased $3.4 million,  or 4.6%, to $76.4 million at March 31, 1999.
Loan originations  amounted to $8.7 million for the three months ended March 31,
1999, with payoffs equaling $5.4 million. Loan demand continued to be strong.

Deposits  were $70.8  million at March 31,  1999  compared  to $70.0  million at
December 31, 1998,  an increase of $822,000,  or 1.2%, in the first three months
of 1999.  Borrowings  consisted  of $10.0  million of FHLB  advances  and a $1.3
million note payable related to an equity investment in low income housing.

Shareholders'  equity was $16.6  million at March 31, 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 $197,000. Equity was increased by $315,000 from net earnings coupled with the
effects of amortization of the stock benefit plan.


Results of Operations

Comparison of the Three Months Ended March 31, 1999 and March 31, 1998

Net  earnings  for the  Company for the three  months  ended March 31, 1999 were
$282,000  compared  with  $304,000  for three  months  ended March 31,  1998,  a
decrease  of  $22,000 or 7.2%.  Net  interest  income  increased  $93,000  while
general,   administrative  and  other  expenses  increased  $109,000  and  taxes
decreased $12,000.  The major contributor to the increase in net interest income
was the growth in the loan portfolio  during the past twelve months.  Loans were
$76.4  million at March 31, 1999  compared to $65.4  million at March 31,  1998.
However,  the impact of such growth was off-set by a decline in the yield on the
loan portfolio.


                                        9


<PAGE>


The  provision  for loan losses was $41,000 for the three months ended March 31,
1999 and $9,000 for the three months ended March 31, 1998. Additional provisions
were made due to growth in the loan portfolio  coupled with the development of a
commercial loan portfolio.  Non-performing loans increased to $529,000,  or .69%
of loans at March 31, 1999 from $315,000, or .42% of loans at December 31, 1998.
Loan loss reserves amounted to $326,000 or .42% of total loans at March 31, 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 March 31, 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 $14,000, or 26.9%, during the three months ended
March 31, 1999.  Service charges on deposit accounts increased $11,000 and other
operating income increased $3,000.

Total general,  administrative and other expenses increased $109,000,  or 34.4%,
in the three  months  ended March 31,  1999  compared  to March 31,  1998.  Data
processing fees increased $10,000,  or 38.5%, due to loan and deposit growth and
occupancy and equipment expense increased $13,000,  or 68.4%,  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
$42,000, or 48.3%,  primarily due to a one time non-recurring  charge of $35,000
related to deposit operations.

The  Company's  effective tax rate for the three months ended March 31, 1999 was
37.9% and was 37.7% for the three months ended March
31, 1998.

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 March 31, 1999, the Bank's  tangible  capital ratio was 16.22%,  its leverage
ratio was 16.22%, and its risk-based  capital to risk-weighted  assets ratio was
28.21%.  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,
1999.
<TABLE>
<CAPTION>

Capital Standard           Required           Bank's                Excess
----------------           --------           ------                ------
<S>                           <C>                <C>                  <C>
Tangible (1.5%)            $1,488,000         16,091,000            14,603,000
Core (4.0%)                 3,969,000         16,091,000            12,122,000
Risk-based (8.0%)           4,655,000         16,416,000            11,761,000

</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 Office of Thrift  Supervision  at 4%. At March 31, 1999 the
Bank's regulatory liquidity ratio was 34.3%.








                                       10


<PAGE>


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 is currently preparing 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 $40,000.  As of March 31, 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 will have the  capability to account
for  transactions  on a manual  basis  until the data  center  returns to normal
operations,  or the Company will consider the need to contract with an alternate
service provider.

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.














                                       11


<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
December 31, 1998, 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 400  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>
+400bp             12,294          -5,394         -30%             13.56%          -457bp
+300bp             14,054          -3,633         -21%             15.15%          -298bp
+200bp             15,596          -2,092         -12%             16.47%          -166bp
+100bp             16,808            -880          -5%             17.46%           -67bp
      0bp          17,688               -           -              18.13%               -
- 100bp            18,471             784          +4%             18.71%           +57bp
- 200bp            19,413           1,725         +10%             19.39%          +126bp
- 300bp            20,713           3,026         +17%             20.34%          +221bp
- 400bp            22,082           4,394         +25%             21.31%          +317bp

</TABLE>

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

Pre-shock NPV Ratio: NPV as % of PV of Assets        18.13%
Exposure Measure: Post-Shock NPV Ratio               16.47%
Sensitivity Measure: Change in NPV Ratio             166bp



                                       12


<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.











































                                       13


<PAGE>


Part II.  OTHER INFORMATION
Item 1.  Legal Proceedings

Neither the Bank nor the Company were, during the three-month period ended March
31, 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 three month  period ended
                    March 31, 1999.

         (b)      Reports on Form 8-K

                    The  Registrant  filed no  reports  on Form 8-K  during  the
                    fiscal quarter ended March 31, 1999.



























                                       14


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


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



































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