<PAGE>

                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                            ----------------------


                                  FORM 10-QSB



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

     For the quarterly period ended December 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  _________



                            WEST TOWN BANCORP, INC.
                            -----------------------
       (Exact name of small business issuer as specified in its charter)



     United States                                   36-3785272
     -------------                                ---------------
(State or other jurisdiction                    I.R.S. Employer
   of incorporation or                           Identification
       organization)                                 Number



4852 WEST 30TH STREET, CICERO, ILLINOIS                 60804
---------------------------------------               ----------
(Address of Principal executive offices)              (Zip Code)

Issuer's telephone number, including area code:     (708) 652-2000
                                                    --------------

     Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15 (d) of the Exchange Act during the past 12 months (or for such
shorter period that the issuer was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.

                               Yes    X      No
                                  ---------    ________

     Transitional Small Business Disclosure Format

                             Yes           No    X
                                _______       ---------


     As of February 7, 2000, the issuer had 210,362 shares of Common stock
issued and outstanding.
<PAGE>

                            WEST TOWN BANCORP, INC.
                               AND SUBSIDIARIES
                               ----------------



Part I.   FINANCIAL INFORMATION                                          PAGE
                                                                         ----


     Item 1. Financial Statements
               Consolidated Statements of Financial Condition
               December 31, 1999 (unaudited) and March 31, 1999            3

               Consolidated Statements of Income, Three and
               Nine Months Ended December 31, 1999 and 1998 (unaudited)    4

               Consolidated Statements of Stockholders' Equity
               Nine Months Ended December 31, 1999 (unaudited)             5

               Consolidated Statements of Cash Flows, Nine
               Months Ended December 31, 1999 and 1998 (unaudited)         6

               Notes to Financial Statements                              7-8

     Item 2. Management's Discussion and Analysis or Plan of
               Operation                                                  9-13



Part II.  OTHER INFORMATION                                               14

          Signatures                                                      15

          Index to Exhibits                                               16

          Earnings Per Share Analysis (Exhibit 11)                        17

                                      -2-
<PAGE>

                            WEST TOWN BANCORP, INC.
                               AND SUBSIDIARIES
                               ----------------

                 Consolidated Statements of Financial Condition

<TABLE>
<CAPTION>
                                                            December 31,   March 31,
                                                           -------------  ----------
                                                               1999          1999
                                                           -------------  ----------
                                                            (unaudited)
Assets
------
<S>                                                        <C>            <C>
Cash and amounts due from depository institutions           $   174,515      244,104
Interest-bearing deposits                                     9,282,092    7,895,043
                                                            -----------   ----------
   Total cash and cash equivalents                            9,456,607    8,139,147
Mortgage-backed securities, held to maturity
  (fair value: December 31, 1999 - $627,600;
  March 31, 1999 - $954,000)                                    619,119      937,938
Loans receivable (net of allowance for
  loan losses: December 31, 1999 - $56,671;
  March 31, 1999 - $52,171)                                  19,383,710   20,109,900
Stock in Federal Home Loan Bank of Chicago                      183,300      177,400
Other investments, available for sale, at fair value            266,250      270,000
Accrued interest receivable                                     143,802      152,450
Office properties and equipment - net                         1,250,789      556,326
Prepaid expenses and other assets                               207,533      640,703
                                                            -----------   ----------

   Total assets                                              31,511,110   30,983,864
                                                            ===========   ==========


Liabilities and Stockholders' Equity
------------------------------------

Liabilities
-----------

Deposits                                                     26,882,985   26,429,517
Advance payments by borrowers for taxes and insurance            62,791       41,032
Other liabilities                                               381,813      266,891
                                                            -----------   ----------
   Total liabilities                                         27,327,589   26,737,440
                                                            -----------   ----------

Stockholders' Equity
--------------------

Preferred stock, $.01 par value; authorized
  100,000 shares; none outstanding                                    -            -
Common stock, $.01 par value; authorized
  400,000 shares; 231,928 shares issued and
  210,362 shares outstanding at December 31, 1999 and
  222,603 shares outstanding at March 31, 1999                    2,319        2,319
Additional paid-in capital                                    1,995,574    1,993,869
Retained earnings, substantially restricted                   2,510,075    2,437,026
Accumulated other comprehensive income,
  net of income taxes                                            42,432       44,832
Treasury stock, at cost (21,566 shares at
  December 31, 1999 and 9,325 shares at March 31, 1999)        (254,657)    (107,206)
Common stock acquired by Employee Stock Ownership Plan         (112,222)    (124,416)
                                                            -----------   ----------

   Total stockholders' equity                                 4,183,521    4,246,424
                                                            -----------   ----------

   Total liabilities and stockholders' equity               $31,511,110   30,983,864
                                                            ===========   ==========
</TABLE>

See accompanying notes to consolidated financial statements.

                                      -3-
<PAGE>

                            WEST TOWN BANCORP, INC.
                               AND SUBSIDIARIES
                               ----------------
                       Consolidated Statements of Income

<TABLE>
<CAPTION>
                                                 Three Months Ended         Nine Months Ended
                                                     December 31,               December 31,
                                              ------------------------    ------------------------
                                                  1999         1998            1999        1998
                                                  ----         ----            ----        ----
                                                     (unaudited)                  (unaudited)
<S>                                           <C>             <C>             <C>        <C>
Interest income:
  Loans                                         $354,832       364,989        1,082,139  1,120,663
  Mortgage-backed securities                      11,441        18,764           34,675     65,363
  Investment securities                            2,750         1,537            5,500     10,330
  Interest-bearing deposits                      135,841       104,540          363,270    328,852
  Dividends on FHLB stock                          3,465         2,939            9,410      8,855
                                                --------       -------        ---------  ---------
    Total interest income                        508,329       492,769        1,494,994  1,534,063
                                                --------       -------        ---------  ---------

Interest expense:
  Deposits                                       307,260       309,270          909,705    937,140
                                                --------       -------        ---------  ---------

     Net interest income before
       provision for loan losses                 201,069       183,499          585,289    596,923
Provision for loan losses                          1,500         1,500            4,500      4,500
                                                --------       -------        ---------  ---------
     Net interest income after
      provision for loan losses                  199,569       181,999          580,789    592,423
                                                --------       -------        ---------  ---------

Non-interest income:
  Loan fees and service charges                    1,170         2,513            7,785      6,531
  Rental income                                    1,976         2,430            6,836      7,290
  Deposit related fees and other income            4,841         5,278           14,516     15,950
                                                --------       -------        ---------  ---------
     Total non-interest income                     7,987        10,221           29,137     29,771
                                                --------       -------        ---------  ---------

Non-interest expense:
  Staffing costs                                  99,251        77,017          248,322    227,634
  Advertising                                      4,866         4,038           10,393      9,255
  Occupancy and equipment expense                 35,725        22,710          105,453     65,866
  Data processing                                  9,021        12,320           26,639     35,996
  Federal deposit insurance premiums               3,953         3,677           11,505     11,426
  Legal, audit and examination fees               15,766        11,369           47,476     41,787
  Other                                           28,515        10,976           56,779     32,224
                                                --------       -------        ---------  ---------
     Total non-interest expense                  197,097       142,107          506,567    424,188
                                                --------       -------        ---------  ---------

Income before income taxes                        10,459        50,113          103,359    198,006

Provision for income taxes (benefit)                (895)       16,058           30,310     69,900
                                                --------       -------        ---------  ---------

     Net income                                 $ 11,354        34,055           73,049    128,106
                                                ========       =======        =========  =========

Earnings per share - basic                      $    .06           .16              .36        .61
                                                    ----          ----             ----       ----
Earnings per share - diluted                    $    .06           .16              .35        .60
                                                    ----          ----             ----       ----
Dividends declared per common share             $      -             -                -          -
                                                    ----          ----             ----       ----
</TABLE>

See accompanying notes to consolidated financial statements.

                                      -4-
<PAGE>

                            WEST TOWN BANCORP, INC.
                               AND SUBSIDIARIES
                               ----------------

          Consolidated Statements of Changes in Stockholders' Equity

                      Nine Months Ended December 31, 1999
                                  --------------

                                  (Unaudited)

<TABLE>
<CAPTION>

                                                                        Accumulated              Common
                                               Additional                 Other                  Stock
                                    Common      Paid-In     Retained   Comprehensive  Treasury   Awarded
                                    Stock       Capital     Earnings      Income       Stock     by ESOP    Total
                                  ----------  ----------  -------------  --------  ---------------------  ---------
<S>                               <C>         <C>         <C>            <C>       <C>                    <C>

Balance at March 31, 1999         $   2,319   1,993,869       2,437,026    44,832   (107,206)    (124,416)  4,246,424

Comprehensive income:
Net income                                                       73,049                                        73,049
 Other comprehensive income,
   net of tax:
 Unrealized holding loss
   during the period                                                       (2,400)                             (2,400)
                                                          -------------  --------                          ---------
Total comprehensive income                                       73,049    (2,400)                             70,649
                                                          -------------  --------                          ---------
Purchase of treasury stock
  (12,241 shares)                                                                   (147,451)                (147,451)

Contribution to fund ESOP loan                    1,705                               12,194                   13,899
                                  ---------   ---------   -------------  --------   ---------   ---------   ---------
Balance at December 31, 1999      $   2,319   1,995,574       2,510,075    42,432   (254,657)    (112,222)  4,183,521
                                  =========   =========   =============  ========   =========   =========   =========
</TABLE>

See accompanying notes to consolidated financial statements.

                                      -5-
<PAGE>

                            WEST TOWN BANCORP, INC.
                               AND SUBSIDIARIES
                               ----------------

                     Consolidated Statement of Cash Flows
<TABLE>
<CAPTION>


                                                                 Nine Months Ended
                                                                    December 31,
                                                            ----------------------------
                                                                  1999       1998
                                                                  ----       ----
                                                                    (unaudited)
<S>                                                          <C>             <C>
Cash flows from operating activities:

  Net income                                                   $    73,049      128,106
   Adjustments to reconcile net income to net cash
    from operating activities:
     Depreciation                                                   28,403       19,852
     Amortization of cost of stock benefit plans                    13,899       13,241
     Provision for loan losses                                       4,500        4,500
     Decrease in deferred income                                       (65)      (2,285)
     Change in current and deferred income tax                     (26,444)      20,655
     (Increase) decrease in accrued interest receivable              8,648      (42,354)
     Increase (decrease) in accrued interest payable                38,869      (10,493)
     Change in prepaid and accrued items, net                      537,017      111,738
                                                               -----------   ----------

Net cash provided by operating activities                          677,876      242,960
                                                               -----------   ----------

Cash flows from investing activities:
     Proceeds from maturities of investment securities                   -      500,000
     Proceeds from repayments of mortgage-backed securities        318,819      550,115
     Purchase of investment securities, available for sale               -     (100,000)
     Purchase of Federal Home Loan Bank stock                       (5,900)           -
     Disbursements for loans originated or purchased            (3,107,990)  (7,993,809)
     Loan repayments                                             3,401,764    6,865,519
     Participation loans sold                                      427,981      573,284
     Property and equipment expenditures                          (722,866)    (289,985)
                                                               -----------   ----------

Net cash provided by investing activities                          311,808      105,124
                                                               -----------   ----------

Cash flows from financing activities:
     Deposit account receipts                                    8,559,192    6,664,188
     Deposit account withdrawals                                (8,977,565)  (7,152,083)
     Interest credited to deposit accounts                         871,841      718,563
     Increase in advance payments by borrowers
       for taxes and insurance                                      21,759       43,630
     Purchase of treasury stock                                   (147,451)     (24,000)
                                                               -----------   ----------

Net cash provided by financing activities                          327,776      250,298
                                                               -----------   ----------

Increase in cash and cash equivalents                            1,317,460      598,382

Cash and cash equivalents at beginning of period                 8,139,147    7,177,578
                                                               -----------   ----------

Cash and cash equivalents at end of period                     $ 9,456,607    7,775,960
                                                               ===========   ==========

Cash paid during the period for:
    Interest                                                   $   870,836      947,633
    Income taxes                                                    56,754       45,816
                                                               ===========   ==========
</TABLE>

See accompanying notes to consolidated financial statements.

                                      -6-
<PAGE>

                            WEST TOWN BANCORP, INC.
                               AND SUBSIDIARIES

                         Notes to Financial Statements


Note A -  Basis of Presentation
          ---------------------

          The accompanying unaudited consolidated financial statements have been
          prepared in accordance with instructions to Form 10-QSB and,
          therefore, do not include information or footnotes necessary for fair
          presentation of financial condition, results of operations and changes
          in financial position in conformity with generally accepted accounting
          principles.  However, in the opinion of management, all adjustments
          (which are normal and recurring in nature) necessary for a fair
          presentation have been included. The preparation of financial
          statements in conformity with generally accepted accounting principles
          requires management to make estimates and assumptions that affect the
          reported amounts of assets and liabilities and disclosures of
          contingent assets and liabilities at the date of the financial
          statements and the reported amounts of revenues and expenses during
          the reporting period. Actual results could differ from those
          estimates. The results of operations for the three and nine month
          periods ended December 31, 1999, are not necessarily indicative of the
          results which may be expected for the entire year.

Note B -  Principles of Consolidation
          ---------------------------

          The accompanying unaudited consolidated financial statements include
          the accounts of West Town Bancorp, Inc. (the "Company") and its wholly
          owned subsidiary West Town Savings Bank (the "Bank") and the Bank's
          wholly owned subsidiary West Town Insurance Agency, Inc. All
          significant intercompany accounts and transactions have been
          eliminated in consolidation.

Note C -  Earnings Per Share
          ------------------

          Earnings per share for the three and nine month periods ended December
          31, 1999 and 1998 was determined by dividing net income for the period
          by the weighted average number of both basic and diluted shares of
          common stock and common stock equivalents outstanding (see Exhibit 11
          attached).  Stock options are regarded as common stock equivalents and
          are therefore considered in diluted earnings per share calculations.
          Common stock equivalents are computed using the treasury stock method.
          ESOP shares not committed to be released to participants are not
          considered outstanding for purposes of computing earnings per share
          amounts.

Note D -  Industry Segments
          -----------------

          The Company operates principally in the banking industry through its
          subsidiary bank.  As such, substantially all of the Company's
          revenues, net income, identifiable assets and capital expenditures are
          related to banking operations.

                                      -7-
<PAGE>

Notes to Financial Statements (continued)
-----------------------------------------

Note E -  Effect of New Accounting Standards
          ----------------------------------

          In June 1998, the FASB issued Statement of Financial Accounting
          Standards No. 133, "Accounting for Derivative Instruments and Hedging
          Activities", ("SFAS No. 133") which is effective for fiscal years
          beginning after June 15, 1999. The statement requires all derivatives
          to be recorded on the balance sheet at fair value. It also establishes
          "special accounting" for hedges of changes in the fair value of
          assets, liabilities, or firm commitments (fair value hedges), hedges
          of the variable cash flows of forecasted transactions (cash flow
          hedges), and hedges of foreign currency exposures of net investments
          in foreign operations.  To the extent the hedge is considered highly
          effective, both the change in the fair value of the derivative and the
          change in the fair value of the hedged item are recognized (offset) in
          earnings in the same period. Changes in fair value of derivatives that
          do not meet the criteria of one of these three hedge categories are
          included in income.

          In September 1999, the FASB issued Statement of Financial Accounting
          Standards No. 137 ("SFAS No. 137"), entitled "Accounting for
          Derivative Instruments in Hedging Activities--Deferral of the
          Effective Date of FASB Statement No. 133".  SFAS No. 137 defers the
          effective date of SFAS No. 133 from years beginning after June 15,
          1999 to all fiscal quarters of all fiscal years beginning after June
          15, 2000.  Management does not believe that adoption of SFAS No. 133
          will have a material impact on the Company's consolidated financial
          condition or results of operations.

          The foregoing does not constitute a comprehensive summary of all
          material changes or developments affecting the manner in which the
          Company keeps its books and records and performs its financial
          accounting responsibilities.  It is intended only as a summary of some
          of the recent pronouncements made by the FASB which are of particular
          interest to financial institutions.

                                      -8-
<PAGE>

                            WEST TOWN BANCORP, INC.
                               AND SUBSIDIARIES

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


Financial Condition
-------------------

     The assets of West Town Bancorp, Inc. (the "Company") increased
approximately $527,000, or 1.70%, for the nine month period ended December 31,
1999.  This increase was primarily the result of an increase in cash and cash
equivalents held by West Town Savings Bank (the "Bank"), resulting from
repayments of mortgage-backed securities and loans receivable, and increased
deposits during the nine month period ended December 31, 1999.

     Net loans receivable decreased $726,000, or 3.61%, for the nine months
ended December 31, 1999.  During that period, the Bank originated or purchased
approximately $3.1 million in loans which were exceeded by repayments of $3.4
million and participation loans sold of $428,000.

     The Bank experienced an increase in savings deposits for the nine month
period of approximately $453,000, or 1.72%.  It is management's belief that part
of the deposit activity for the nine months ended December 31, 1999 can be
attributed to new deposit products.

     Stockholders' equity decreased approximately $63,000, or 1.48%, for the
nine month period ended December 31, 1999.  This decrease was primarily the
result of the amortization of the cost of the Company's stock benefit plans of
$14,000, and net income for the nine months of $73,000, being more than offset
by the purchase of treasury stock at a cost of $147,000.  As of December 31,
1999, the book value per common share outstanding was $19.89.

Analysis of Operations
----------------------

     A net profit of $11,000 was recognized for the three months ended December
31, 1999 as compared to a net profit of $34,000 for the same period in 1998.
This $23,000 decrease in net income was due primarily to an increase in non-
interest expense of $55,000, partially offset by an increase in net interest
income of $17,000 and a decrease in income taxes of $17,000.  The Company's net
income for the nine months ended December 31, 1999 was $73,000 as compared to a
net profit of $128,000 for the nine months ended December 31, 1998.  This
$55,000 decrease in net income was due primarily to a $12,000 decrease in net
interest income and an $82,000 increase in non-interest expense, partially
offset by a $39,000 decrease in income taxes.

     Interest income increased by $16,000 for the three month period ended
December 31, 1999 compared to the three month period ended December 31, 1998.
This was the result of an increase in the average balance of interest-earning
assets of $1.0 million, partially offset by a decrease in the average yield on
interest-earning assets from 6.84% for the three months ended December 31, 1998
to 6.81% for the three months ended December 31, 1999.  Interest income
decreased by $39,000 for the nine month period ended December 31, 1999 compared
to the nine month period ended December 31, 1998.  This was the result of a
decrease in the average yield on interest-earning assets from 7.14% for the nine
months ended December 31, 1998 to 6.70% for the nine month period ended December
31, 1999, partially offset by an increase in the average balance of interest-
earning assets of $1.1 million.

                                      -9-
<PAGE>

Analysis of Operations (continued)
----------------------------------

     Interest expense decreased from $309,000 to $307,000 from the three months
ended December 31, 1998 compared to the same period in 1999.  For the nine
months ended December 31, 1998 interest expense was $937,000 as compared to
$910,000 for the same nine months in 1999.  These decreases were attributable to
decreases in the average rate paid on interest-bearing liabilities, partially
offset by increases in the average balances of interest-bearing liabilities.
The average rate on average interest-bearing liabilities decreased from 4.85%
and 4.92% for the three and nine months ended December 31, 1998 to 4.58% and
4.55% for the three and nine months ended December 31, 1999.  The average
balances increased approximately $1.3 million and $1.3 million for the three and
nine months ended December 31, 1999 as compared to the average balances at
December 31, 1998, respectively.

     The Bank calculates any allowance for loan losses based upon its ongoing
evaluation of pertinent factors underlying the types and quality of its loans,
including the risk inherent in its loan portfolio, and other factors such as the
current regulatory and economic environment.  Based upon this evaluation, loan
loss provisions are recorded.  Provisions of $1,500 and $1,500 were made for the
three month periods ended December 31, 1999 and 1998 respectively, and
provisions of $4,500 and $4,500 were made for the nine month periods ended
December 31, 1999 and 1998 respectively.  Management believes that additions to
its provision for loan losses have been appropriate, given the risks inherent in
its loan portfolio, and the current regulatory and economic environment.
Although the Bank believes its allowance for loan losses is at a level which it
considers to be adequate to provide for potential losses, there can be no
assurance that such losses will not exceed the estimated amounts.

     Non-interest income decreased by $2,000 for the three months ended December
31, 1999 as compared to the same period in 1998.  Non-interest income decreased
by $1,000 for the nine months ended December 31, 1999 as compared to the same
period in 1998.  These decreases were primarily attributable to decreases in
loan related fee income and rental income.

     Non-interest expense increased from $142,000 to $197,000 from the three
months ended December 31, 1998 to the three months ended December 31, 1999.
Non-interest expense increased from $424,000 to $507,000 from the nine months
ended December 31, 1998 to the nine months ended December 31, 1999.  The
increase for the nine month period was primarily the result of increases in
compensation costs of $21,000, occupancy and equipment expenses of $40,000 as a
result of expenditures for the new branch office and other expenses  of $25,000,
partially offset by a decrease in data processing expense of $9,000.

     The provision for income taxes decreased $17,000 and $39,000 for the three
and nine months ended December 31, 1999, respectively, as compared to the same
periods in 1998.  These decreases were attributable to decreases in pre-tax
income in the 1999 periods as compared to the 1998 periods.

                                      -10-
<PAGE>

                        Liquidity and Capital Resources

At December 31, 1999, the Bank continued to comply with its liquidity
requirements, with an overall liquid asset ratio of 29.75% and a short-term
liquid asset ratio of 25.07%.  Management's objectives and strategies for the
Bank have consistently maintained liquidity levels in excess of regulatory
requirements.  It is management's intent to continue its efforts to deploy
excess liquidity into mortgage loans and mortgage-backed securities; however,
the success of lending efforts is dependent upon the availability of favorable
loan opportunities and the competition therefor.  At December 31, 1999, the Bank
had no outstanding commitments to fund loans, and no commitments to purchase
mortgage-backed securities or other investment securities.

The Bank was in compliance with regulatory capital requirements at December 31,
1999. Capital requirements, ratios, and balances are as follows:

<TABLE>
<CAPTION>
                                                                                     To Be Well-
                                                                                  Capitalized Under
                                                        For Capital               Prompt Corrective
                                 Actual              Adequacy Purposes            Action Provisions
                         -----------------------------------------------------------------------------
                           Amount       Ratio/1/     Amount      Ratio/1/       Amount      Ratio/1/
                         -----------------------------------------------------------------------------
     <S>                 <C>           <C>         <C>           <C>           <C>          <C>
     December 31, 1999
     -----------------

     Risk-based          $ 3,365,947   24.72%      $ 1,089,492    8.00%        $ 1,361,864    10.00%
     Core                  3,309,276   10.78           908,322    3.00           1,513,870     5.00
</TABLE>

________________

          /1/  Core capital levels are shown as a percentage of total adjusted
               assets; risk-based capital levels are shown as a percentage of
               risk-weighted assets.

                                      -11-
<PAGE>

                             Non-Performing Assets

The following table sets forth the amounts and categories of non-performing
assets in the Company's portfolio.  Loans are placed on non-accrual status when
principal and interest are 90 days or more past due, unless, in the judgment of
management, the loan is well collateralized and in the process of collection.
Loans are also reviewed monthly and any loan whose collectibility is doubtful is
placed on non-accrual status. Interest accrued and unpaid at the time a loan is
placed on non-accrual status is charged against interest income.  Subsequent
payments are either applied to the outstanding principal balance or recorded as
interest income, depending on the assessment of the ultimate collectibility of
the loan.  The following table sets forth the Company's non-performing assets as
of the dates indicated.

<TABLE>
<CAPTION>
                                         December 31,   March 31,
                                             1999         1999
                                         ------------   ---------
<S>                                      <C>            <C>

Non-accruing loans:
 One-to-four family....................    $      -       $   -
 Multi-family..........................           -           -
 Commercial real estate................           -           -
 Land and construction.................           -           -
                                           --------       -----
   Total non-performing loans..........           -           -
                                           --------       -----

 Real estate owned.....................           -           -
                                           --------       -----

Total non-performing assets............    $      -       $   -
                                           ========       =====

Total as a percentage of total assets..           -%          -%
                                           ========       =====
</TABLE>

In addition to the non-performing assets set forth in the table above, as of
December 31, 1999, there were no loans with respect to which known information
about the possible credit problems of the borrowers or the cash flows of the
secured properties have caused management to have concerns as to the ability of
the borrowers to comply with present loan repayment terms and which may result
in the future inclusion of such items in the non-performing asset categories.

Management has considered the Company's non-performing and "of concern" assets
in establishing the allowance for loan losses.

                                      -12-
<PAGE>

                    Impact of Inflation and Changing Prices

The consolidated financial statements and related data presented herein have
been prepared in accordance with generally accepted accounting principles which
require the measurement of financial position and operating results in terms of
historical dollars without considering changes in the relative purchasing power
of money over time due to inflation.  The primary impact of inflation on the
operations of the Company is reflected in increased  operating costs. Unlike
most industrial companies, virtually all of the assets and liabilities of a
financial institution are monetary in nature.  As a result, interest rates,
generally, have a more significant impact on a financial institution's
performance than does inflation. Interest rates do not necessarily move in the
same direction or to the same extent as the prices of goods and services.

 Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995

     Management's Discussion and Analysis of Financial Condition and Results of
Operations that are not historical facts are forward-looking statements subject
to the safe harbor created by the Private Securities Litigation Reform Act of
1995.  The Company cautions readers of this Form 10-QSB that a number of
important factors could cause the Company's actual results in 1999/2000 and
beyond to differ materially from those expressed in any such forward-looking
statements.  These factors include, without limitation, the general economic and
business conditions affecting the Company's customers; changes in interest
rates; the adequacy of the Bank's allowance for loan losses; competition from,
among others, commercial banks, savings and loan associations, mutual funds,
money market funds, finance companies, credit unions, mortgage companies, and
the United States Government; limited partnership activities; federal and state
legislation, regulation and supervision of the Bank and its subsidiaries; the
risk of defaults on loans; and contractual, statutory and regulatory
restrictions on the Bank's ability to pay dividends to the Company.

                              Recent Developments

     Construction of the Bank's branch office located in North Riverside,
Illinois has been completed, and the branch office commenced operations on
January 18, 2000.

                                      -13-
<PAGE>

                          PART II - OTHER INFORMATION

                            WEST TOWN BANCORP INC.
                               AND SUBSIDIARIES


Item 1.  LEGAL PROCEEDINGS
         -----------------

         From time to time, the Company and Bank are parties to legal
         proceedings in the ordinary course of business, wherein they enforce
         their security interest.  The Company and Bank are not engaged in any
         legal proceedings of a material nature at the present time.

Item 2.  CHANGES IN SECURITIES
         ---------------------

         Not applicable

Item 3.  DEFAULTS UPON SENIOR SECURITIES
         -------------------------------

         Not applicable

Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
         ---------------------------------------------------

         Not applicable

Item 5.  OTHER INFORMATION
         -----------------

         Not applicable

Item 6.  EXHIBITS AND REPORTS ON FORM 8-K
         --------------------------------

         (a)  Computation of earnings per share (Exhibit 11 filed herewith)

         (b)  No reports on Form 8-K were filed during the quarter ended
              December 31, 1999.

                                      -14-
<PAGE>

                                  SIGNATURES


     Pursuant to the requirements of Section 13 or 15 (d) of the Securities and
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.


                                     WEST TOWN BANCORP, INC.
                                     -----------------------
                                            Registrant



DATE:  February 7, 2000



BY: /s/ Dennis B. Kosobucki
    ----------------------------------
    Dennis B. Kosobucki
    Chairman of the Board,
    President and Chief Executive Officer
    (Duly Authorized Representative and
    Principal Executive Officer)



BY: /s/ Jeffrey P. Kosobucki
    ----------------------------------
    Jeffrey P. Kosobucki
    Vice President and Chief Financial Officer
    (Principal Financial Officer)

                                      -15-
<PAGE>

                               INDEX TO EXHIBITS


Exhibit No.                                                                 Page
----------                                                                  ----
   11         Statement regarding Computation of Earnings Per Share          17

                                      -16-