U.S. SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark one)

  [X]      Quarterly report under Section 13 or 15(d) of the Securities Exchange
           Act of 1934 for the quarterly period ended December 31, 2000


  [ ]      Transition report under Section 13 or 15(d) of the Exchange Act for
           the transition period from _________ to_________


                           Commission File No. 0-30483


                           DUTCHFORK BANCSHARES, INC.
       ------------------------------------------------------------------
        (Exact name of Small Business Issuer as Specified in its Charter)


   Delaware                                              57-1094236
--------------------------------------------------------------------------------
   State of Incorporation                      I.R.S. Employer Identification


                1735 Wilson Road, Newberry, South Carolina 29108
         -------------------------------------------------------------
                     (Address of Principal Executive Office)


                                 (803) 321-3200
                ------------------------------------------------
                (Issuer's Telephone Number, Including Area Code)


              -----------------------------------------------------
              (Former Name, Former Address and Former Fiscal Year,
                          if Changed Since Last Report)


         State the number of shares  outstanding of each of the issuer's classes
of common equity, as of the latest practicable date:

         1,560,550  shares of common  stock,  par value  $0.01 per  share,  were
issued and outstanding as of January 31, 2001.

    Traditional Small Business Disclosure Format (check one): Yes [ ] No [X]


<PAGE>


                         PART I - FINANCIAL INFORMATION
                                                                           Page
                                                                           ----

Consolidated Balance Sheet at December 31, 2000 and September 30, 2000       4

Consolidated Statements of Income for the Three Months Ended
December 31, 2000 and 1999                                                   6

Consolidated Statements of Comprehensive Operations for
the Three Months Ended December 31, 2000 and 1999                            8

Consolidated Statements of Changes in Equity for the Three
Months Ended December 31, 2000                                               9

Consolidated Statements of Cash Flows for the Three Months
Ended December 31, 2000 and 1999                                            10

Notes to Consolidated Financial Statements                                  12

Management's Discussion and Analysis of Results of Operations
and  Financial Condition                                                    13



                           PART II - OTHER INFORMATION

Item 1:    Legal Proceedings                                                18

Item 2:    Changes in Securities and Use of Proceeds                        18

Item 3:    Defaults upon Senior Securities                                  18

Item 4:    Submission of Matters to a Vote of Security Holders              18

Item 5:    Other Information                                                18

Item 6:    Exhibits and Reports on Form 8-K                                 18


                                       2

<PAGE>


PART I

                              FINANCIAL INFORMATION

Item 1.  Financial Statements

         The financial statements of DutchFork Banchshares,  Inc. (the "Company"
or "DutchFork Bancshares") are set forth in the following pages.

                                       3

<PAGE>


                           DutchFork Bancshares, Inc.
                                and Subsidiaries
                           Consolidated Balance Sheets

<TABLE>
<CAPTION>
                                                       December 31,      September 30,
                                                         2000               2000
                                                    --------------     ---------------
                                                      (unaudited)        (unaudited)
<S>                                                   <C>               <C>
Assets

Cash and cash equivalents                            $  5,914,237      $  2,834,538
Investments and mortgage-backed securities:
      Available-for-sale:
           Investments (cost of $21,508,610 and
             $27,429,604 at December 31 and
             September 30, 2000, respectively)         20,781,313        24,772,470
           Mortgage-backed securities (cost of
             $116,240,114 and $110,102,612 at
             December 31 and September 30,
             2000, respectively)                      115,006,128       105,965,236
      Held-to-maturity:
           Investments (fair value of
             $1,141,000 and $1,141,000 at
             September 30 and December 31,
             2000, respectively)                        1,141,000         1,141,000
           Mortgage-backed securities (fair
             value of $3,678,993 and $3,493,114
             at December 31 and September 30,
             2000, respectively)                        3,774,999         3,874,486
Loans receivable                                       79,507,390        78,307,565
Repossessed assets                                             --            22,246
Premises, furniture and equipment, net                  3,678,471         3,600,824
Accrued interest receivable:
      Loans and mortgage-backed securities                592,437           560,940
      Investments and other property                      802,457           925,279
Prepaid assets                                            427,862           351,971
Prepaid income tax and tax refunds
   receivable                                                  --            43,600
Deferred tax asset                                        572,637           566,355
Other                                                     786,854         1,101,479
                                                     ------------      ------------
Total assets                                         $232,985,785      $224,067,989
                                                     ============      ============

                                       4

<PAGE>


                           DutchFork Bancshares, Inc.
                                and Subsidiaries
                     Consolidated Balance Sheets (continued)

                                                                December 31,         September 30,
                                                                   2000                  2000
                                                              ---------------      ---------------
                                                                (unaudited)          (unaudited)
<S>                                                            <C>                 <C>
Liabilities and stockholders' equity
Liabilities:
      Deposit accounts                                         $ 146,375,386       $ 147,730,669
      Federal Home Loan Bank advances                             35,000,000          35,000,000
      Other borrowings                                                    --           2,755,000
      Advances from borrowers for taxes
         and insurance                                                30,142              60,727
      Accrued income taxes payable                                 2,965,810             838,707
      Accounts payable - securities                               12,027,240           4,785,938
      Accounts payable                                                 9,098              21,837
      Accrued expenses                                               852,780             655,789
      Accrued interest payable                                       768,213             860,231
      Other                                                          115,437              63,576
                                                               -------------       -------------
Total liabilities                                                198,144,106         192,772,474
                                                               -------------       -------------

Commitments and contingencies                                             --                  --
Stockholders' equity:
      Preferred stock, $.01 par value, 500,000 shares
         authorized and unissued                                          --                  --
      Common stock, $.01 par value,
         4,000,000 shares authorized, 1,560,550
         issued and outstanding at December 31
         and September 30, 2000                                       15,605              15,605
      Additional paid-in capital                                  14,557,956          14,554,183
      Retained earnings, substantially restricted                 22,706,338          22,180,461
      Accumulated other comprehensive income (loss)               (1,209,169)         (4,216,676)
      Unearned employee stock ownership plan shares               (1,229,051)         (1,238,058)
                                                               -------------       -------------
Total stockholders' equity                                        34,841,679          31,295,515
                                                               -------------       -------------
Total liabilities and stockholders' equity                     $ 232,985,785       $ 224,067,989
                                                               =============       =============
</TABLE>


                                       5

<PAGE>

                           DutchFork Bancshares, Inc.
                                and Subsidiaries
                        Consolidated Statements of Income
<TABLE>
<CAPTION>
                                                                    Three Months Ended
                                                                       December 31,

                                                                  2000            1999
                                                              ------------    ------------
                                                              (unaudited)      (unaudited)
<S>                                                            <C>             <C>
Interest income:
      Loans receivable                                         $1,660,617      $1,478,184
      Investments                                                 375,015         596,012
      Mortgage-backed and related securities                    2,105,028       1,632,430
      Other interest-earning assets                                49,737          67,543
                                                               ----------      ----------
           Total interest income                                4,190,397       3,774,169
                                                               ----------      ----------

Interest expense:
      Interest expense on deposit accounts                      1,834,614       1,622,930
      Federal Home Loan Bank advances                             501,750         494,115
      Other borrowings purchased                                   47,180          25,791
                                                               ----------      ----------
           Total interest expense                               2,383,544       2,142,836
                                                               ----------      ----------



Net interest income                                             1,806,853       1,631,333
      Provision for loan losses                                        --         160,000
                                                               ----------      ----------
      Net interest income after provision for loan losses       1,806,853       1,471,333
                                                               ----------      ----------

Noninterest income:

      Gain (loss) on sale of securities, net                      195,087              --
      Loan origination and commitment fees                         27,766          15,083
      Profit on sale of loans                                          --             303
      Loan servicing fees                                          14,369          16,841
      Bank service charges                                        166,057         172,662
      Loan late charges                                            14,232          12,650
      Other                                                        32,585          23,640
                                                               ----------      ----------
           Total noninterest income                               450,096         241,179
                                                               ----------      ----------
</TABLE>

                                       6

<PAGE>


                           DutchFork Bancshares, Inc.
                                and Subsidiaries
                  Consolidated Statements of Income (continued)


                                                Three Months Ended
                                                    December 31,
                                               2000             1999
                                            ---------         -------
Noninterest expense:
      Compensation and benefits               680,831         552,792
      Occupancy                                84,983          78,456
      SAIF deposit insurance premium            8,011          20,594
      Foreclosed real estate expenses             100             294
      Furniture and equipment                  79,043         100,614
      Professional fees                        80,031          76,896
      Telephone and postage                    47,396          38,002
      Insurance                                77,928          10,738
      Marketing                                26,982          48,225
      Data processing                          71,813          79,708
      Supplies and printing                    23,643          15,964
      OTS assessments                          13,627          11,704
      Meetings                                  7,340           5,135
      Bank service charges                     10,942           8,620
      Loan expenses                            10,043           9,856
      Transaction account charges              10,477          12,781
      Automated teller system                   6,618           6,183
      Contributions                            70,722         103,889
      Other                                    87,068          34,877
                                            ----------      ---------
           Total noninterest expense        1,397,598       1,215,328
                                            ----------      ---------

      Income before income taxes              859,351         497,184

Provision for income taxes                    333,474         198,770
                                           ----------       ---------

Net income                                 $  525,877      $  298,414
                                           ==========      ===========

Net income per share                       $     0.34      $      N/A
                                           ==========      ===========


                                       7


<PAGE>


                           DutchFork Bancshares, Inc.
                                and Subsidiaries
               Consolidated Statements of Comprehensive Operations

                                                         Three Months Ended
                                                             December 31,
                                                         2000           1999
                                                      ----------     ----------

Net income                                            $  525,877     $  298,414

Other comprehensive income (loss), net of tax:
      Unrealized gains (losses) arising during the
         period, net of tax effect of $1,841,767 and
         $(532,502) for the three months ended
         December 31, 2000 and 1999, respectively      3,007,507       (871,036)
                                                      ----------     ----------

Comprehensive income (loss)                           $3,533,384     $ (572,622)
                                                      ==========     ==========

                                       8


<PAGE>
                           DutchFork Bancshares, Inc.
                                and Subsidiaries
           Consolidated Statements of Changes in Stockholders' Equity


<TABLE>
<CAPTION>

                                                                                                          Employee Stock
                                             Number of                      Additional        Retained      Ownership
                                              Shares     Common Stock    Paid-in Capital      Earnings      Plan Loan
                                            ----------   ------------    ---------------  ------------    -------------
<S>                                         <C>          <C>             <C>              <C>             <C>
Balance at September 30, 2000               1,560,550    $     15,605    $ 14,554,183     $ 22,180,461    $ (1,238,058)
       Net income                                                                              525,877
       Release of 901 ESOP shares                                               3,773                            9,007
       Change in net unrealized
          depreciation on investments
          available for sale (net of
          deferred and current income
          taxes of $1,841,767)
                                          -----------    ------------    ------------     ------------    ------------
                                            1,560,550    $     15,605    $ 14,557,956     $ 22,706,338    $ (1,229,051)
                                          ===========    ============    ============     ============    ============

<CAPTION>
                                            Accumulated
                                               Other               Total
                                           Comprehensive        Stockholders'
                                           Income (Loss)          Equity
                                           -------------     ----------------
<S>                                        <C>                 <C>
Balance at September 30, 2000              $ (4,216,676)       $ 31,295,515
       Net income                                                   525,877
       Release of 901 ESOP shares                                    12,780
       Change in net unrealized
          depreciation on investments
          available for sale (net of
          deferred and current income
          taxes of $1,841,767)                3,007,507           3,007,507
                                           ------------        ------------
                                           $ (1,209,169)       $ 34,841,679
                                           ============        ============
</TABLE>

                                       9

<PAGE>


                           DutchFork Bancshares, Inc.
                                and Subsidiaries
                      Consolidated Statements of Cash Flows

<TABLE>
<CAPTION>
                                                                          Three Months Ended
                                                                             December 31,
                                                                       2000               1999
                                                                    -----------       -----------
                                                                    (unaudited)       (unaudited)
<S>                                                                 <C>               <C>
Operating Activities

Net income                                                       $    525,877       $    298,414
Adjustments to reconcile net income to net cash
   provided (used) by operating activities:
      Depreciation                                                     58,283             59,450
      Provision for losses                                                 --            160,000
      (Gain) loss on sales of investments and mortgage-
           backed securities                                         (174,937)                --
      Net loss on sales on loans                                           --                 --
      Net loss on sales of foreclosed real estate                          --                 --
      Increase (decrease) in deferred loan origination fees             4,253             (1,082)
      Amortization of premiums (discounts) on investments,
         mortgage-backed securities and loans                        (364,601)          (300,952)
      Decrease (increase) in accrued interest receivable               91,325            316,297
      Decrease (increase) in prepaid and other assets                 282,334             95,534
      Decrease (increase) in deferred tax asset                            --            (71,194)
      Increase (decrease) in accrued interest payable                 (92,018)           (57,769)
      Increase (decrease) in accounts payable and accrued
           expenses                                                 7,228,563         10,749,372
      Increase (decrease) in other liabilities                        527,711           (121,080)
      Origination of loans held for sale                                   --            (47,357)
      Proceeds from sales of loans held for sale                                         578,727
                                                                 ------------       ------------
Net cash provided (used) by operating activities                    8,086,790         11,658,360
                                                                 ------------       ------------
</TABLE>

                                       10

<PAGE>


                           DutchFork Bancshares, Inc.
                                and Subsidiaries
                Consolidated Statements of Cash Flows (continued)

<TABLE>
<CAPTION>
                                                                         Three Months Ended
                                                                            December 31,
                                                                       2000              1999
                                                                  ------------       ------------
                                                                   (unaudited)        (unaudited)
<S>                                                              <C>                <C>
Investing Activities
Principal payments on mortgage-backed securities                    2,030,004          4,465,858
Purchases of held to maturity securities                                   --                 --
Proceeds from maturities of securities                                     --                 --
Purchases of available-for-sale securities                        (41,443,294)       (23,579,442)
Proceeds from sales of available-for-sale securities               39,852,049          5,199,085
Net (increase) decrease in loans receivable                        (1,204,078)          (162,191)
Proceeds from sales of repossessed assets                              22,246                 --
Purchases of premises, furniture and equipment                       (135,930)           (25,721)
                                                                 ------------       ------------
Net cash provided (used) by investing activities                     (879,003)       (14,102,411)
                                                                 ------------       ------------

Financing Activities
Net  increase (decrease) in deposit accounts                       (1,355,283)        10,899,307
Proceeds from Federal Home Loan Bank advances                              --          4,600,000
Payments on Federal Home Loan Bank advances and
   other borrowings                                                        --        (21,270,000)
Proceeds from other borrowings                                     15,190,000         11,125,000
Repayments of other borrowings                                    (17,945,000)                --
Issuance of stock in public offering                                       --                 --
Repayment of ESOP loan                                                 12,780                 --
Increase (decrease) in advances from borrowers for
   taxes and insurance                                                (30,585)           (42,981)
                                                                 ------------       ------------
Net cash provided by financing activities                          (4,128,088)         5,311,326
                                                                 ------------       ------------
Net increase (decrease) in cash and cash equivalents                3,079,699          2,867,275
Cash and cash equivalents at beginning of year                      2,834,538          3,256,053
                                                                 ------------       ------------
Cash and cash equivalents at end of year                         $  5,914,237       $  6,123,328
                                                                 ============       ============

Supplemental Disclosures of Cash Flow Information:
Cash paid (received) during the year for:
       Interest                                                  $  4,011,988       $  2,200,605
       Taxes                                                     $    712,972       $         --
</TABLE>

                                       11

<PAGE>


                           DutchFork Bancshares, Inc.
                          Notes to Financial Statements
                                December 31, 2000

Note 1 - Organization

           DutchFork  Bancshares,  Inc.  was  incorporated  under  the  laws  of
Delaware in February  2000 for the purpose of serving as the holding  company of
Newberry Federal Savings Bank ("Newberry  Federal" or the "Bank") as part of the
Bank's conversion from the mutual to stock form of organization. The conversion,
completed  on July 5, 2000,  resulted in the  Company  issuing an  aggregate  of
1,560,550  shares of its common stock,  par value $.01 per share,  at a price of
$10 per share.  Prior to the  conversion,  the  Company  had not  engaged in any
material  operations  and had no assets or income.  The Company is a savings and
loan  holding  company  and  subject  to  regulation  by the  Office  of  Thrift
Supervision and the Securities and Exchange Commission.

Note 2 - Accounting Principles

           The accompanying unaudited financial statements of the Bank have been
prepared in accordance with generally accepted accounting principles for interim
financial information and with instruction to Form 10-QSB and of Regulation S-B.
Accordingly,  the financial statements do not include all of the information and
footnotes  required by generally  accepted  accounting  principles  for complete
financial statements. In the opinion of management,  all adjustments (consisting
of a normal recurring nature) considered  necessary for a fair presentation have
been  included.  Operating  results for the three months ended December 31, 2000
are not  necessarily  indicative  of the results  that may be  expected  for the
current fiscal year.

Note 3 - Earnings Per Share

           Earnings per share for the three months ended  December 31, 2000 were
calculated  based  upon  1,560,550  shares  outstanding  during the  period.  No
earnings  per share  amounts  have been  presented  for the three  months  ended
December  31,  1999,  since  no  shares  were  outstanding  during  the  periods
presented.

Note 4 - Sale of Branch

           The Company has entered into an agreement to sell its Chapin  branch,
which has approximately  $13,000,000 in deposits.  The sale will be completed in
February  2001,  and the  Company  will pay to the  acquirer  the  amount of the
deposit  liability,  less the value of the assets transferred and the premium to
be received on the deposits.

       To  generate   funds  for  the  deposit   liability,   the  Company  sold
approximately $10,600,000 of loans at a gain of approximately $35,000.

Note 5 - Other Subsequent Events

           After December 31, 2000, the Company sold  approximately  $16,000,000
       of loan servicing at a gain of approximately $145,000.


                                       12
<PAGE>

Item 2.

Forward Looking Statements

           This prospectus contains forward looking statements that are based on
assumptions and describe future plans,  strategies and expectations of DutchFork
Bancshares  and its wholly owned  subsidiary,  Newberry  Federal.  These forward
looking  statements  are  generally  identified  by use of the words  "believe",
"expect", "intend", "anticipate",  "estimate", "project" or similar expressions.
DutchFork  Bancshares and Newberry  Federal's  ability to predict results or the
actual effect of future plans or strategies  is  inherently  uncertain.  Factors
which  could have a  material  adverse  effect on the  operations  of  DutchFork
Bancshares  and Newberry  Federal  include,  but are not limited to,  changes in
interest rates,  general economic  conditions,  legislative/regulatory  changes,
monetary  and  fiscal  policies  of the U.S.  Reserve  Board,  the  quality  and
composition  of the loan or  investment  portfolios,  demand for loan  products,
deposit  flow,  competition,  demand for  financial  services  in and  DutchFork
Bancshares' and Newberry Federal's market area and accounting principles.  These
risks and  uncertainties  should be  considered in  evaluating  forward  looking
statements and undue reliance should not be placed on such statements.

Operating Strategy

           DutchFork  Bancshares' wholly owned subsidiary,  Newberry Federal, is
an independent,  community-oriented  savings bank,  delivering  quality customer
service and offering a wide range of deposit and loan products to its customers.
Because  of  weak  loan  demand  in  Newberry  Federal's  primary  market  area,
management has maintained a substantial  investment in investment securities and
mortgage-backed   securities  classified  as  available-for-sale.   Management's
objective  in managing  the  securities  portfolio is to maintain a portfolio of
high quality,  highly liquid  investments with  competitive  returns in order to
maximize current income without compromising credit quality.

           In December,  management entered into a definitive  agreement to sell
the Chapin  facility to another bank.  This was the only operating  facility the
Bank maintained outside of Newberry County, and the sale of the Chapin branch is
an effort to maintain and  strengthen  the Bank's  market share within  Newberry
County. The sale of the Chapin facility will better maximize marketing and sales
efforts by  creating  improved  cost  efficiencies  and a  stronger  competitive
position.  Management  believes this should lead to improved  profit,  increased
shareholder value and better risk management over the long term.


                                       13
<PAGE>



Comparison of Financial Condition at December 31, 2000 and September 30, 2000:

           Total  assets  increased  by $8.9  million  from  $224.1  million  at
September 30, 2000 to $233.0 million at December 31, 2000, primarily as a result
of a $5.0 million increase in investment  securities and a $3.1 million increase
in cash and cash  equivalents.  The  increase in cash and cash  equivalents  and
investments and  mortgage-backed  securities was primarily due to an increase in
the accounts payable liability for securities purchased.

           At December 31, 2000,  total equity was $34.8  million,  after a $1.2
million  unrealized  loss, net of taxes,  on the investment and  mortgage-backed
securities portfolios classified as available-for-sale. This compares with total
equity at September 30, 2000 of $31.3 million,  after a $4.2 million  unrealized
loss, net of taxes, on the investment and mortgage-backed  securities portfolios
classified as available-for-sale.

           During the three months ended December 31, 2000, the market values of
investments and mortgage-backed  securities  increased by $4,849,274,  and after
the tax effect of $1,841,767,  equity increased by $3,007,507 from this increase
in market values.

Comparison of Operating Results for the Three Months Ended December 31, 2000 and
December 31, 1999:

Net Income

           Net income for the three months ended  December 31, 2000 increased by
$227,000 to $526,000  when  compared to the same period for the prior year.  Net
interest income, after the provision for loan losses, increased by $336,000, and
non-interest income increased by $209,000,  with these increases in income being
partially  offset by an increase  in  non-interest  expense and income  taxes of
$317,000.

Net Interest Income

           Net interest income  increased from $1.6 million for the three months
ended December 31, 1999 to $1.8 million for the same period in 2000. The average
interest rate spread decreased  slightly with a significant  increase in average
net interest  earning  assets of $12.3  million,  resulting  primarily  from the
additional capital raised in the conversion and public offering.


                                       14
<PAGE>

Provision for Loan Losses

           The provision for loan losses for the three months ended December 31,
2000 was $0, compared to $160,000 for the same period in 1999. The allowance was
carefully  evaluated  and  determined  to be adequate at its current level based
upon  current  market  trends.  Although  management  uses the best  information
available,  future  adjustments to the allowance may be necessary due to changes
in economic,  operating,  regulatory and other conditions that may be beyond the
Company's control.  While the Company maintains its allowance for loan losses at
a level which it considers  adequate to provide for estimated losses,  there can
be no assurance  that further  additions  will not be made to the  allowance for
loan losses and that actual losses will not exceed estimated losses.

Non-Interest Income

           Non-interest  income increased by $209,000,  primarily as a result of
$195,000 in gains on the sale of securities.

Non-Interest Expense

           Non-interest expense increased from $1.2 million for the three months
ended  December 31, 1999 to $1.4 million for the three months ended December 31,
2000.  The increase was  primarily a result of  increases  in  compensation  and
benefits of $128,000,  ESOP  expense of $13,000 and costs of $68,000  related to
interest rate caps and floors. The cost of the interest rate caps and floors are
due to efforts to limit exposure to the changing interest rate environment.

Provision for Income Taxes

           Income tax increased by $135,000 due to the increase in income before
income taxes.

Liquidity and Capital Resources

           Management  believes that the Company's liquidity remains adequate to
meet  operating,  investment  and  loan  funding  requirements.  Cash  and  cash
equivalents, along with investments and mortgage-backed securities available for
sale represented 60.8% of assets at December 31, 2000.

           Liquidity management is both a daily and long-term  responsibility of
management.  The Company  adjusts its  investments  in liquid  assets based upon
management's  assessment of expected loan demand, expected deposit flows, yields
available  on  interest-earning  deposits  and  investment  securities  and  the
objectives of its asset/liability  management program.  Excess liquid assets are
invested  generally  in  interest-earning  overnight  deposits  and  short-  and
intermediate-term  U.S.  Government and agency  obligations and  mortgage-backed
securities.  If the Company  requires  funds beyond its ability to generate them
internally, it has additional borrowing capacity with the Federal Home Loan Bank
of Atlanta.

                                       15
<PAGE>

           The  desired  level of  liquidity  for the Company is  determined  by
management in conjunction with the  Asset/Liability  Committees of the Bank. The
level  of  liquidity  is  based  on  management's  strategic  direction  for the
Company's commitments to make loans and the Committees' assessment of the Bank's
ability to generate funds. Historically,  sources of liquidity have included net
deposits to savings  accounts,  amortization  and prepayments of loans,  Federal
Home Loan Bank advances,  reverse repurchase  agreements and sales of securities
and loans held for sale.

           The  Bank is  subject  to  various  regulatory  capital  requirements
imposed by the Office of Thrift Supervision.  At December 31, 2000, the Bank was
in compliance with all applicable capital requirements.



                                       16
<PAGE>



                          Newberry Federal Savings Bank
               Yields on Average Interest Earning Assets and Rates
                     On Average Interest Bearing Liabilities
                                 (In Thousands)

<TABLE>
<CAPTION>
                                                   Three Months Ended December 31,               Three Months Ended December 31,
                                                               2000                                           1999
                                                  Average                    Yield/            Average                   Yield/
                                                  Balance     Interest        Rate             Balance     Interest       Rate
                                                  -------     --------     ----------        ----------   ----------   ----------
<S>                                            <C>         <C>                 <C>           <C>           <C>               <C>
Interest earning assets:
      Loans receivable                         $   78,709  $     1,660         8.44%         $   74,946    $   1,478         7.89%
      Interest-bearing deposits                       808           12         5.94%              2,052           68         3.31%
      Investment securities                        21,112          364         6.90%             22,967          595         7.77%
      Mortgage-backed securities                  113,683        2,105         7.41%            104,976        1,632         6.22%
      Federal funds sold                              713           11         6.17%                 --           --           --
      Other                                         2,872           38         5.29%                133            1         3.01%
                                              -----------  -----------   -----------        -----------  -----------  -----------
Total interest earning assets                     217,897        4,190         7.69%            205,074        3,774         7.36%
Non-interest earning assets                         8,628                                        11,009
                                              -----------                                   -----------
Total assets                                   $  226,525                                    $  216,083
                                              ===========                                    ==========

Interest bearing liabilities:
Deposits:
      Passbook accounts                        $   15,805                                    $   17,490
      NOW and Money Market
         accounts                                  31,113                                        28,192
      Certificates of deposit                      99,537                                       103,229
                                              -----------                                   -----------
           Total deposits                         146,455        1,835         5.01%            148,911        1,622         4.36%
Federal Home Loan Bank
   advances                                        35,000          502         5.74%             35,073          494         5.63%
Other borrowings                                    7,457           47         2.52%              4,417           27         2.45%
                                              -----------  -----------   -----------        -----------  -----------  -----------
      Total interest bearing
         liabilities                              188,912        2,384         5.05%            188,401        2,143         4.55%
Non-interest bearing liabilities                    5,053                                        10,911
                                              -----------                                   -----------
      Total liabilities                           193,965                                       199,312
Total retained earnings                            32,560                                        16,771
                                              -----------                                   -----------
Total liabilities and retained
         earnings                              $  226,525                                    $  216,083
                                              ===========                                   ===========

Net interest-earning assets                                $     1,806         2.64%                       $   1,631         2.81%
Net interest margin as a percentage
   of interest-earning assets                                                  3.32%                                         3.18%
</TABLE>

                                       17

<PAGE>

                                     PART II
                                OTHER INFORMATION

Item 1.  Legal Proceedings

      There are no material legal proceedings to which the Company or any of its
subsidiaries is a party or which any of their property is the subject.

Item 2.  Changes in Securities and Use of Proceeds

      NONE

Item 3.  Defaults upon Senior Securities

      NONE

Item 4.  Submission of Matters to a Vote of Security Holders

      NONE

Item 5.  Other Information

      NONE

Item 6. Exhibits and Reports on Form 8-K

(a)     Exhibits

3.1     Certificate of incorporation of DutchFork Bancshares, Inc. (1)
3.2     Bylaws of DutchFork Bancshares, Inc. (1)
4.0     Specimen Stock Certificate of DutchFork Bancshares, Inc. (1)
10.1    Newberry Federal Savings Bank Employment Agreement with J. Thomas
        Johnson (2)
10.2    Newberry Federal Savings Bank Employment Agreement with Steve P.
        Sligh (2)
10.3    DutchFork Bancshares, Inc. Employment Agreement with J. Thomas
        Johnson (2)
10.4    DutchFork Bancshares, Inc. Employment Agreement with Steve P. Sligh (2)
10.5    Newberry Federal Savings Bank Employee Severance Compensation Plan (2)
10.6    Newberry Federal Savings Bank Supplemental Executive Retirement Plan (2)
10.7    Adoption Agreement for Employees' Savings & Profit Sharing Plan &
        Trust (1)
10.8    DutchFork Bancshares, Inc. 2001 Stock-Based Incentive Plan (3)





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

(1)   Incorporated   herein  by  reference  from  the  Exhibits  to  Form  SB-2,
      Registration Statement and amendments thereto, initially filed on March 8,
      2000, Registration No. 333-31986.

(2)   Incorporated herein by reference from the Exhibits to the Annual Report on
      Form 10-KSB for the fiscal year ended September 30, 2000.

(3)   Incorporated  herein by reference from the Definitive  Proxy Statement for
      the 2001 Annual Meeting of Stockholders.



                                       18
<PAGE>


   (b)     Reports on Form 8-K

           On November 3, 2000,  the Company filed a Current  Report on Form 8-K
           announcing the date of the 2001 annual meeting of  stockholders.  The
           press release  announcing  the annual meeting date was attached as an
           exhibit to the Form 8-K.

           On December 20, 2000,  the Company filed a Current Report on Form 8-K
           announcing  that Newberry  Federal and First  Community Bank, NA, the
           wholly-owned  subsidiary of First Community Corp. signed a definitive
           agreement  by which First  Community  Bank will  purchase the Chapin,
           South Carolina branch office from Newberry Federal. The press release
           announcing the agreement was attached as an exhibit to the Form 8-K.



                                       19
<PAGE>



                                   SIGNATURES

           In  accordance  with  the  requirements  of  the  Exchange  Act,  the
registrant  caused  this  report to be signed on its behalf by the  undersigned,
thereunto duly authorized.

               DUTCHFORK BANCSHARES, INC.
               --------------------------
                     (Registrant)


           Date: February 14, 2001     By:  /S/ J. Thomas Johnson
                                           -----------------------------------
                                           J. Thomas Johnson
                                           President and Chief Executive Officer

                                       By: /S/ Steve P. Sligh
                                           -----------------------------------
                                           Steve P. Sligh
                                           Executive Vice President and Chief
                                           Financial Officer