<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 September 30, 2002


                                       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 November 4, 2002, the issuer had 205,397 shares of common stock
issued and outstanding; see accompanying notes.

<PAGE>

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

<TABLE>
<CAPTION>
Part I.  FINANCIAL INFORMATION                                                       PAGE
                                                                                     ----
<S>                                                                                  <C>
         Item 1. Financial Statements
                   Consolidated Statements of Financial Condition
                   September 30, 2002 (unaudited) and March 31, 2002                    3

                   Consolidated Statements of Income, Three and
                   Six Months Ended September 30, 2002 and 2001 (unaudited)             4

                   Consolidated Statements of Stockholders' Equity,
                   Six Months Ended September 30, 2002 (unaudited)                      5

                   Consolidated Statements of Cash Flows,
                   Six Months Ended September 30, 2002 and 2001 (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

         Chief Executive Officer Certification                                          16

         Chief Financial Officer Certification                                          17

         Index to Exhibits                                                              18

         Earnings Per Share Analysis (Exhibit 11)                                       19

         Chief Executive Officer Section 906 Certification (Exhibit 99.1)               20

         Chief Financial Officer Section 906 Certification (Exhibit 99.2)               21

</TABLE>

<PAGE>

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

                 Consolidated Statements of Financial Condition
<TABLE>
<CAPTION>
                                                           September 30,    March 31,
                                                                2002          2002
                                                                ----          ----
Assets                                                      (unaudited)
------
<S>                                                       <C>             <C>
Cash and amounts due from depository institutions         $    559,796       423,795
Interest-bearing deposits                                   13,316,743     9,841,394
                                                            ----------    ----------
   Total cash and cash equivalents                          13,876,539    10,265,189
Mortgage-backed securities, held to maturity
  (fair value:  September 30, 2002 - $21,656,100;
  March 31, 2002 - $22,631,400)                             21,523,161    22,534,020
Loans receivable (net of allowance for
  loan losses:  September 30, 2002 - $128,000;
  March 31, 2002 - $117,000)                                22,634,219    25,079,838
Stock in Federal Home Loan Bank of Chicago                     304,100       296,800
Other investments, available for sale, at fair value           253,000       279,200
Accrued interest receivable                                    232,988       240,327
Office properties and equipment - net                        1,452,671     1,489,939
Prepaid expenses and other assets                            1,093,506       836,309
                                                            ----------    ----------
   Total assets                                             61,370,184    61,021,622
                                                            ==========    ==========

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

Liabilities
-----------
Deposits                                                    53,635,094    51,319,909
Advance payments by borrowers for taxes and insurance          100,331        47,275
Other liabilities                                            3,231,597     5,407,100
                                                            ----------    ----------
   Total liabilities                                        56,967,022    56,774,284
                                                            ----------    ----------

Stockholders' Equity
--------------------
Preferred stock, $.01 par value; authorized
  100,000 shares; none outstanding                                --             --
Common stock, $.01 par value; authorized
  400,000 shares; 233,038 shares issued and
  205,397 and 204,287 shares outstanding at
  September 30, 2002 and March 31, 2002                          2,330         2,319
Additional paid-in capital                                   2,017,942     2,004,931
Retained earnings, substantially restricted                  2,735,070     2,586,524
Accumulated other comprehensive income,
  net of income taxes                                           33,945        50,724
Treasury stock, at cost (27,641 shares at
  September 30, 2002 and March 31, 2002)                      (327,557)     (327,557)
Common stock acquired by Employee Stock Ownership Plan         (58,568)      (69,603)
                                                            ----------    ----------

   Total stockholders' equity                                4,403,162     4,247,338
                                                            ----------    ----------

   Total liabilities and stockholders' equity              $61,370,184    61,021,622
                                                           ===========    ==========

</TABLE>


          See accompanying notes to consolidated financial statements.

<PAGE>

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

                        Consolidated Statements of Income

<TABLE>
<CAPTION>
                                         Three Months Ended       Six Months Ended
                                            September 30,          September 30,
                                         ------------------     ---------------------
                                         2002         2001        2002        2001
                                         ----         ----        ----        ----
<S>                                    <C>           <C>        <C>         <C>
                                            (unaudited)           (unaudited)
Interest income:
  Loans                                $ 411,957     571,092      831,804   1,160,640
  Mortgage-backed securities             312,384     171,514      624,590     326,768
  Investment securities                    2,750       2,750        5,500       5,500
  Interest-bearing deposits               39,670      82,757       87,755     172,964
  Dividends on FHLB stock                  3,786       4,396        7,486       8,687
                                         -------     -------    ---------   ---------
    Total interest income                770,547     832,509    1,557,135   1,674,559
                                         -------     -------    ---------   ---------

Interest expense:
  Deposits                               393,398     596,401      817,929   1,196,457
                                         -------     -------    ---------   ---------

     Net interest income before
       provision for loan losses         377,149     236,108      739,206     478,102
Provision for loan losses                  8,000       3,000       11,000      12,000
                                         -------     -------    ---------   ---------
     Net interest income after
       provision for loan losses         369,149     233,108      728,206     466,102
                                         -------     -------    ---------   ---------

Non-interest income:
  Loan fees and service charges            6,604       3,057        9,545       6,317
  Rental income                            3,685       3,705        7,665       6,737
  Deposit related fees and other income   48,370      29,015       80,109      53,358
                                         -------     -------    ---------   ---------
     Total non-interest income            58,659      35,777       97,319      66,412
                                         -------     -------    ---------   ---------

Non-interest expense:
  Staffing costs                         140,489     136,767      272,388     260,279
  Advertising                              4,918       5,853        9,698      10,930
  Occupancy and equipment expense         56,771      55,595      113,462     111,504
  Data processing                         17,493      16,035       35,004      32,912
  Federal deposit insurance premiums       2,185       2,111        4,370       4,104
  Legal, audit and examination services   33,506      19,148       56,629      39,456
  Other                                   40,046      28,962       85,264      63,265
                                         -------     -------    ---------   ---------
     Total non-interest expense          295,408     264,471      576,815     522,450
                                         -------     -------    ---------   ---------

Income before income taxes               132,400       4,414      248,710      10,064

Provision for income taxes                54,720         930      100,164       2,134
                                         -------     -------    ---------   ---------

     Net income                        $  77,680       3,484      148,546       7,930
                                         =======     =======    =========   =========

Earnings per share - basic             $     .39         .02          .75         .04
                                             ---         ---          ---         ---

Earnings per share - diluted           $     .39         .02          .74         .04
                                             ---         ---          ---         ---

Dividends declared per common share    $      -           -            -           -
                                             ---         ---          ---         ---
</TABLE>

          See accompanying notes to consolidated financial statements.

<PAGE>

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


           Consolidated Statements of Changes in Stockholders' Equity

                       Six Months Ended September 30, 2002
                                  -------------------

                                   (Unaudited)

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

Balance at March 31, 2002        $2,319  2,004,931   2,586,524       50,724     (327,557)  (69,603)  4,247,338

Comprehensive income:
Net income                                             148,546                                         148,546
  Other comprehensive income,
    net of tax:
  Unrealized holding loss
    during the period                                               (16,779)                           (16,779)
                                                     ---------      -------                          ---------
Total comprehensive income                             148,546      (16,779)                           131,767
                                                     ---------      -------                          ---------
Exercise of 1,110 stock options      11     11,089                                                      11,100

Tax benefits from
  stock-related compensation                   832                                                         832

Contribution to fund ESOP loan               1,090                                          11,035      12,125
                                 ------  ---------   ---------      -------     --------   -------   ---------
Balance at September 30, 2002    $2,330  2,017,942   2,735,070       33,945     (327,557)  (58,568)  4,403,162
                                 ======  =========   =========      =======     ========   =======   =========
</TABLE>

          See accompanying notes to consolidated financial statements.



<PAGE>

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

                      Consolidated Statements of Cash Flows

<TABLE>
<CAPTION>
                                                                Six Months Ended
                                                                 September 30,
                                                           --------------------------
<S>                                                        <C>             <C>
                                                                 2002          2001
                                                                 ----          ----
                                                                    (unaudited)
Cash flows from operating activities:

  Net income                                               $    148,546         7,930
   Adjustments to reconcile net income to net cash
    from operating activities:
     Depreciation                                                45,943        45,360
     Amortization of cost of stock benefit plans                 12,125        10,909
     Provision for loan losses                                   11,000        12,000
     Decrease in deferred income                                 (8,036)       (9,893)
     Federal Home Loan Bank stock dividend                       (7,300)       (4,200)
     Change in current and deferred income tax                   74,749        34,913
     (Increase) decrease in accrued interest receivable           7,339       (30,298)
     Increase in accrued interest payable                        19,940        55,391
     Change in prepaid and accrued items, net                  (209,851)      913,409
                                                           ------------   -----------

Net cash provided by operating activities                        94,455     1,035,521
                                                           ------------   -----------

Cash flows from investing activities:
     Purchase of mortgage-backed securities                 (14,885,878)   (8,859,499)
     Proceeds from repayments of mortgage-backed
       securities                                            13,589,452     2,826,712
     Purchase of Federal Home Loan Bank stock                      -          (80,100)
     Disbursements for loans originated or purchased         (4,157,417)   (7,759,297)
     Loan repayments                                          6,600,072     8,194,378
     Property and equipment expenditures                         (8,675)       (4,946)
                                                           ------------   -----------

Net cash provided by (for) investing activities               1,137,554    (5,682,752)
                                                           ------------   -----------

Cash flows from financing activities:
     Deposit account receipts                                36,003,537    26,555,516
     Deposit account withdrawals                            (34,487,085)  (22,296,893)
     Interest credited to deposit accounts                      798,733     1,141,001
     Increase in advance payments by borrowers
       for taxes and insurance                                   53,056        61,740
     Proceeds from exercise of stock options                     11,100          -
     Purchase of treasury stock                                    -           (6,000)
                                                           ------------   -----------

Net cash provided by financing activities                     2,379,341     5,455,364
                                                           ------------   -----------

Increase in cash and cash equivalents                         3,611,350       808,133

Cash and cash equivalents at beginning of period             10,265,189     7,135,221
                                                           ------------   -----------

Cash and cash equivalents at end of period                 $ 13,876,539     7,943,354
                                                           ============   ===========

Cash paid during the period for:
    Interest                                               $    797,989     1,141,066
    Income taxes                                                 25,415          -
                                                           ============   ===========
</TABLE>

See accompanying notes to consolidated financial statements.

<PAGE>

                             WEST TOWN BANCORP, INC.
                                AND SUBSIDIARIES

                   Notes to Consolidated 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 six month
          periods ended September 30, 2002, 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 six month periods ended September
          30, 2002 and 2001 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.

<PAGE>

Notes to Financial Statements (continued)

Note E -  Effect of New Accounting Standards

          In August 2001, the FASB issued SFAS No. 143, "Accounting for Asset
          Retirement Obligations". This statement addresses the financial
          accounting and reporting for obligations related to the retirement of
          tangible long-lived assets and the related asset retirement costs. The
          statement is effective for financial statements issued for fiscal
          years beginning after June 15, 2002, with the initial application as
          of the beginning of the entity's fiscal year. Adoption of this
          statement is not expected to have a material effect on the Company's
          consolidated financial statements.

          In October 2001, the FASB issued SFAS No. 144, "Accounting for the
          Impairment and Disposal of Long-Term Assets". This statement
          supersedes SFAS No. 121, "Accounting for the Impairment of Long-Lived
          Assets and for Long-Lived Assets to Be Disposed Of," as well as the
          accounting and reporting of the Accounting Principles Board (APB)
          Opinion No. 30, "Reporting the Results of Operations-Reporting the
          Effects of Disposal of a Segment of a Business, and Extraordinary,
          Unusual and Infrequently Occurring Events and Transactions". This
          statement eliminates the allocation of goodwill to long-lived assets
          to be tested for impairment and details both a probability-weighted
          and "primary-asset" approach to estimate cash flows in testing for
          impairment of long-lived assets. SFAS No. 144 is effective for
          financial statements issued for fiscal years beginning after December
          15, 2001. As such, the Company adopted the provisions of SFAS No. 144
          on April 1, 2002. The Company does not believe these provisions had a
          material impact on its consolidated financial statements.

          In April 2002, the FASB issued SFAS No. 145, "Rescission of FASB
          Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and
          Technical Corrections". This Statement rescinds SFAS No. 4, "Reporting
          Gains and Losses from Extinguishment of Debt", and an amendment of
          that Statement, SFAS No. 64, "Extinguishments of Debt Made to Satisfy
          Sinking-Fund Requirements". This Statement also rescinds SFAS No. 44,
          "Accounting for Intangible Assets of Motor Carriers". This Statement
          amends SFAS No. 13, "Accounting for Leases," to eliminate an
          inconsistency between the required accounting for sale-leaseback
          transactions and the required accounting for certain lease
          modifications that have economic effects that are similar to
          sale-leaseback transactions. This Statement also amends other existing
          authoritative pronouncements to make various technical corrections,
          clarify meanings, or describe their applicability under changed
          conditions. This Statement is effective for fiscal years beginning
          after May 15, 2002. Adoption of this statement is not expected to have
          a material effect on the Company's consolidated financial statements.

          In June 2002, the FASB issued SFAS No. 146, "Accounting for Costs
          Associated with Exit or Disposal Activities". This Statement addresses
          financial accounting and reporting for costs associated with exit or
          disposal activities and nullifies Emerging Issues Task Force (EITF)
          Issue No. 94-3, "Liability Recognition for Certain Employee
          Termination Benefits and Other Costs to Exit an Activity (including
          Certain Costs Incurred in a Restructuring)". This Statement is
          effective for exit or disposal activities that are initiated after
          December 31, 2002. Adoption of this statement is not expected to have
          a material effect on the Company's consolidated financial statements.

          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.

<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 $350,000, or .57%, for the six month period ended September 30,
2002. This increase was primarily the result of new deposits totaling
approximately $2.3 million partially offset by the funding of mortgage-backed
securities settlements due. These deposits funded loan originations and
purchases as well as purchases of mortgage-backed securities.

     Net loans receivable decreased approximately $2.4 million, or 9.75% for the
six months ended September 30, 2002. During that period, the Bank originated or
purchased approximately $4.2 million in loans which were exceeded by repayments
of $6.6 million during the same period. Mortgage-backed securities decreased
$1.0 million, or 4.49%, for the six months ended September 30, 2002 as the Bank
purchased $12.6 million in new securities which were exceeded by repayments of
$13.6 million.

     The Bank experienced an increase in savings deposits for the six month
period of approximately $2.3 million, or 4.51%. This increase was primarily the
result of deposits generated by the branch office.

     Stockholders' equity increased approximately $156,000, or 3.67%, for the
six month period ended September 30, 2002. This increase was primarily the
result of the net income for the six months of $149,000, as well as the exercise
of stock options totaling approximately $11,000. As of September 30, 2002, the
book value per common share outstanding was $21.44.

Analysis of Operations

     Net income of $78,000 was recognized for the three months ended September
30, 2002 as compared to net income of $4,000 for the same period in 2001. This
$74,000 increase in net income was due primarily to an increase in average
interest-earning assets which resulted in an increase in net interest income of
$141,000, and an increase in deposit related fees of $19,000, partially offset
by an increase in operating expenses of $31,000, and income taxes of $54,000.
The Company's net income for the six months ended September 30, 2002 was
$149,000 compared to net income of $8,000 for the six months ended September 30,
2001. This $141,000 increase in net income was due primarily to increases in net
interest income of $261,000 and fee income of $30,000, partially offset by
increases in compensation related expenses of $12,000, legal fees of $17,000,
other operating expenses of $22,000 and income taxes of $98,000.

     Interest income decreased by $62,000 and $117,000 for the three and six
month periods ended September 30, 2002, respectively, as compared to the three
and six month periods ended September 30, 2001. This was the result of a
decrease in the average yield earned on interest-earning assets, partially
offset by an increase in the average balance of interest-earning assets. The
average balance of interest-earning assets increased from approximately $49.7
million to $54.9 million for the three months ended September 30, 2001 and 2002,
respectively, and from $48.6 million to $54.7 million for the six months ended
September 30, 2001 and 2002, respectively. The average yield on interest-earning
assets decreased from 6.71% and 6.89% for the three and six months ended
September 30, 2001 to 5.62% and 5.70% for the three and six months ended
September 30, 2002.

<PAGE>

Analysis of Operations (continued)

     Interest expense decreased from $596,000 to $393,000 from the three months
ended September 30, 2001 compared to the same period in 2002. For the six months
ended September 30, 2001 interest expense was $1,196,000 as compared to $818,000
for the same six months in 2002. 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
balances increased approximately $4.2 million and $5.2 million for the three and
six months ended September 30, 2002 as compared to the average balances at
September 30, 2001, respectively. The average rate paid on interest-bearing
liabilities decreased from 4.88% and 5.02% for the three and six months ended
September 30, 2001 to 2.96% and 3.10% for the three and six months ended
September 30, 2002.

     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 $8,000 and $3,000 were made for the
three month periods ended September 30, 2002 and 2001 respectively, and
provisions of $11,000 and $12,000 were made for the six month periods ended
September 30, 2002 and 2001 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 increased by $23,000 for the three months ended
September 30, 2002 as compared to the same period in 2001. Non-interest income
increased by $31,000 for the six months ended September 30, 2002 as compared to
the same period in 2001. These increases were primarily attributable to
increased checking account fees and ATM fees.

     Non-interest expense increased from $264,000 to $295,000 from the three
months ended September 30, 2001 to the three months ended September 30, 2002.
Non-interest expense increased from $522,000 to $577,000 from the six months
ended September 30, 2001 to the six months ended September 30, 2002. The six
month period increase was attributable to increases in compensation, legal fees,
and other operating expenses.

     The provision for income taxes increased $54,000 and $98,000 for the three
and six months ended September 30, 2002, respectively, as compared to the same
periods in 2001. These increases were attributable to increases in pre-tax
income in the 2002 periods as compared to the 2001 periods.

On June 30, 2000, the Bank, through its wholly owned subsidiary, West Town
Insurance Agency, purchased 2,500 shares of 23.7% of the issued and outstanding
stock of Commercial Loan Corporation ("CLC") at a purchase price of $125,000.
CLC, which is owned by Chicagoland financial institutions, processes,
underwrites, documents and services commercial loans for financial institution
investors. The services performed by CLC include monitoring post closing
performance of the loan, preparation of loan summaries, ongoing analysis of the
performance of the loan and the borrower including review of financial and
operating statements of the borrower and collection and remittance of all loan
payments. CLC entered into a master loan participation agreement with each of
its shareholders or their affiliates, whereunder the investors would purchase
participations in pools offered by CLC. As of September 30, 2002, CLC had
originated 233 loans aggregating $114.1 million (includes $22.4 million of
unfunded commitments), which were funded through 176 pools. The rates paid on
the pools to the investors, including the Bank, ranged from 3.75% to 9.50% and
consisted of both fixed and variable rates. As of September 30, 2002 the Bank
had purchased an interest in the pools aggregating approximately $7.0 million.

<PAGE>

                         Liquidity and Capital Resources

At September 30, 2002, the Bank continued to comply with its liquidity
requirements, with an overall liquid asset ratio of 23.21% and a short-term
liquid asset ratio of 24.53%. 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 September 30, 2002, the Bank had
no outstanding commitments to fund loans, and no outstanding commitments to
purchase mortgage-backed securities.

The Bank was in compliance with regulatory capital requirements at September 30,
2002. 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>
September 30, 2002

Risk-based            $ 3,859,123    14.68%   $ 2,102,441    8.00%    $ 2,628,051    10.00%
Core                    3,731,123     6.01      1,862,336    3.00       3,103,893     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.

<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.

                                                  September 30,        March 31,
                                                      2002               2002
                                                  -------------       ----------

Non-accruing loans:
 One-to-four family.......................          $ 12,546           $   -
 Multi-family.............................              -                  -
 Commercial real estate...................              -                  -
 Land and construction....................              -                  -
                                                    --------           --------
   Total non-performing loans.............            12,546               -
                                                    --------           --------
 Real estate owned........................              -                  -
                                                    --------           --------
Total non-performing assets...............          $ 12,546           $   -
                                                    ========           ========
Total as a percentage of total assets.....              .02%               - %
                                                    ========           ========


In addition to the non-performing assets set forth in the table above, as of
September 30, 2002, 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.

<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 2002/2003 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.

<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
          ---------------------------------------------------

          (a)  The Annual Meeting of Stockholders (the "Meeting") of West Town
               Bancorp, Inc. was held July 10, 2002 at 1:00 PM at the Company's
               offices located at 4852 West 30th Street, Cicero, Illinois.

          (b)  Proxies for the meeting were solicited pursuant to Regulation 14
               of the Securities and Exchange Act; there was no solicitation in
               opposition and all nominees were elected.

          (c)  The following are the results of each matter voted upon at the
               Meeting:


               (i)  The election of Directors:

                                                For      Withheld
                                                ---      --------
                    James J. Kemp, Jr.        192,947     5,000
                    Charles J. Sourek, Jr.    192,947     5,000

               (ii) The ratification of the appointment of Cobitz, VandenBerg &
                    Fennessy as auditors for the Company for the fiscal year
                    ended March 31, 2003:

                    Votes For:                126,332
                                              -------
                    Votes Against:                  0
                                              -------
                    Abstentions:               71,615
                                              -------

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
               September 30, 2002.

<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: November 4, 2002


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)

<PAGE>

                             WEST TOWN BANCORP, INC.

                      CHIEF EXECUTIVE OFFICER CERTIFICATION

I, Dennis B. Kosobucki, certify that:

1.   I have reviewed this quarterly report on Form 10-QSB of West Town Bancorp,
     Inc.;

2.   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which
     statements were made, not misleading with respect to the period covered by
     this quarterly report.

3.   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4.   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

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

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

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

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

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

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

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

Date: November 4, 2002                By: /s/ Dennis B. Kosobucki
                                          --------------------------------
                                          Dennis B. Kosobucki
                                          President and Chief Executive Officer

<PAGE>

                             WEST TOWN BANCORP, INC.

                      CHIEF FINANCIAL OFFICER CERTIFICATION

I, Jeffrey P. Kosobucki, certify that:

1.   I have reviewed this quarterly report on Form 10-QSB of West Town Bancorp,
     Inc.;

2.   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which
     statements were made, not misleading with respect to the period covered by
     this quarterly report.

3.   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4.   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

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

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

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

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

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

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

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

Date: November 4, 2002            By: /s/ Jeffrey P. Kosobucki
                                      ------------------------------------------
                                      Jeffrey P. Kosobucki
                                      Vice President and Chief Financial Officer

<PAGE>

                                INDEX TO EXHIBITS

Exhibit No.                                                                 PAGE
-----------                                                                 ----

   11        Statement regarding Computation of Earnings Per Share            19

   99-1      Chief Executive Officer Section 906 Certification                20

   99-2      Chief Financial Officer Section 906 Certification                21