UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB

[X] QUARTERLY REPORT UNDER SECTION 13 OF 15(d) OF THE SECURITIES

                              EXCHANGE ACT OF 1934

                  For the quarterly period ended June 30, 2003

                                       OR

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT

             For the transition period from __________ to __________

                           Commission File No. 0-27714

                     Crazy Woman Creek Bancorp Incorporated
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

       Wyoming                                                 83-0315410
--------------------------------------------------------------------------------
(State or other jurisdiction of                            (I.R.S. Employer
incorporation or organization)                            Identification No.)


                     106 Fort Street, Buffalo, Wyoming 82834
                    ----------------------------------------
                    (Address of principal executive offices)

                                 (307) 684-5591
                                 --------------
              (Registrant's telephone number, including area code)

Check whether the issuer (1) filed all reports  required to be filed by Sections
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes X   No
                                                             ---     ---

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

         Class:   Common Stock, par value $.10 per share
                  Outstanding at August 11, 2003:  811,608

Transitional Small Business Disclosure Format (check one): Yes    No X
                                                              ---   ---
<PAGE>

                     CRAZY WOMAN CREEK BANCORP INCORPORATED

                              INDEX TO FORM 10-QSB

                                                                            Page
                                                                            ----

PART I      FINANCIAL INFORMATION
            ---------------------

Item 1.     Financial Statements (unaudited)

            Consolidated Condensed Statements of Financial Condition          1
            at June 30, 2003 and September 30, 2002

            Consolidated Condensed Statements of Income for the               2
            Three and Nine Months ended June 30, 2003 and 2002

            Consolidated Condensed Statements of Comprehensive
            Income (loss) for the Three and Nine Months ended June 30,
            2003 and 2002                                                     3

            Consolidated Condensed Statements of Cash Flows for               4
            the Nine Months ended June 30, 2003 and 2002

            Notes to Consolidated Condensed Financial Statements              5

Item 2.     Management's Discussion and Analysis of Financial Condition       8
            and Results of Operations

Item 3.     Controls and Procedures                                          16


PART II.    OTHER INFORMATION
            -----------------

Item 1.     Legal Proceedings                                                17

Item 2.     Changes in Securities and Use of Proceeds                        17

Item 3.     Defaults upon Senior Securities                                  17

Item 4.     Submission of Matters to a Vote of Security Holders              17

Item 5.     Other Information                                                17

Item 6.     Exhibits and Reports on Form 8-K                                 17


SIGNATURES

<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
            Consolidated Condensed Statements of Financial Condition
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                 June 30,    September 30,
                                                                   2003         2002
                                                                 --------    ------------
Assets                                                           (Dollars in thousands,
------                                                           except per share data)
<S>                                                              <C>          <C>
Cash and cash equivalents                                        $  8,432     $  2,686
Investment and mortgage-backed securities available-for-sale       14,567       18,109
Stock in Federal Home Loan Bank of Seattle, at cost                 1,258        1,200
Loans receivable, net                                              50,965       49,339
Accrued interest receivable                                           336          420
Premises and equipment, net                                         3,594        3,282
Repossessed other assets owned                                         81           96
Income tax receivable                                                --             71
Goodwill, net                                                         178          178
Other intangible assets, net                                           51           69
Other assets                                                          269           71
                                                                 --------     --------
                                                                 $ 79,731     $ 75,521
                                                                 ========     ========
Liabilities and Stockholders' Equity
------------------------------------
Liabilities:

  Deposits                                                       $ 51,285     $ 46,783
  Advances from Federal Home Loan Bank                             11,700       14,200
  Advance payments by borrowers for taxes and insurance                37           65
  Income tax payable                                                   86         --
  Deferred income taxes                                               298          285
  Dividends payable                                                    97           97
  Accrued expenses and other liabilities                            2,615          637
                                                                 --------     --------
    Total liabilities                                              66,118       62,067
                                                                 --------     --------
Stockholders' equity:

  Preferred stock, par value $.10 per share,  2,000,000 shares
     authorized;  none issued and outstanding at June 30, 2003
     and September 30, 2002                                          --           --
  Common stock, par value $.10 per share, 5,000,000 shares
     authorized; 1,058,000 issued and outstanding at
     June 30, 2003 and September 30, 2002                             106          106
  Additional paid-in capital                                       10,156       10,139
  Unearned ESOP/MSBP shares                                          (380)        (411)
  Retained earnings                                                 6,907        6,858
  Accumulated other comprehensive income, net                         274          236
  Treasury stock at cost                                           (3,450)      (3,474)
                                                                 --------     --------
     Total stockholders' equity                                    13,613       13,454
                                                                 --------     --------
                                                                 $ 79,731     $ 75,521
                                                                 ========     ========
</TABLE>

See notes to consolidated condensed financial statements.

                                     Page 1
<PAGE>

              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
                   Consolidated Condensed Statements of Income
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                            Three Months Ended       Nine Months Ended
                                                                 June 30,                June 30,
                                                            ------------------       ------------------
                                                             2003       2002          2003       2002
                                                            ------     ------        ------     ------
                                                           (Dollars in thousands except per share data)
                                                                   (restated see           (restated see
                                                                       note 2)                 note 2)
<S>                                                         <C>        <C>           <C>        <C>
Interest income:
  Loans receivable                                          $  891     $  823        $2,717     $2,379
  Mortgage-backed securities                                    83        172           324        586
  Investment securities                                         37         64           112        184
  Other interest income                                         24         20            76         90
                                                            ------     ------        ------     ------
     Total interest income                                   1,035      1,079         3,229      3,239
Interest expense:
  Deposits                                                     252        329           803      1,076
  Advances from Federal Home Loan Bank                         192        204           598        623
  Other interest expense                                      --         --            --            2
                                                            ------     ------        ------     ------
     Total interest expense                                    444        533         1,401      1,701
                                                            ------     ------        ------     ------
     Net interest income                                       591        546         1,828      1,538
Provision for loan losses                                     --           15            35         15
                                                            ------     ------        ------     ------
     Net interest income after provision for loan losses       591        531         1,793      1,523
                                                            ------     ------        ------     ------
Non-interest income:

  Customer service charges                                      40         23            92         64
  Gain on sale of securities                                  --         --              20       --
  Other operating income                                         3       --              14         22
                                                            ------     ------        ------     ------
     Total non-interest income                                  43         23           126         86
                                                            ------     ------        ------     ------
Non-interest expense:

  Compensation and benefits                                    223        267           713        739
  Occupancy and equipment                                       75         80           214        173
  FDIC/SAIF deposit insurance premiums                           6          1            13          5
  Advertising                                                   14         20            44         50
  Data processing services                                      38         41           121        109
  Professional fees                                             39         18           107         90
  Other                                                         85         84           259        244
                                                            ------     ------        ------     ------
     Total non-interest expense                                480        511         1,471      1,410
                                                            ------     ------        ------     ------
     Income before income taxes                                154         43           448        199
Income tax expense                                              47         11           128         49
                                                            ------     ------        ------     ------
     Net income                                             $  107     $   32        $  320     $  150
                                                            ======     ======        ======     ======

Dividends declared per common share                         $ 0.12     $ 0.12        $ 0.36     $ 0.36
                                                            ======     ======        ======     ======
Basic earnings per common share                             $ 0.13     $ 0.04        $ 0.40     $ 0.19
                                                            ======     ======        ======     ======
Diluted earnings per common share                           $ 0.13     $ 0.04        $ 0.39     $ 0.19
                                                            ======     ======        ======     ======
</TABLE>

See notes to consolidated condensed financial statements

                                     Page 2
<PAGE>

              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
            Consolidated Condensed Statements of Comprehensive Income
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                            Three Months Ended       Nine Months Ended
                                                                 June 30,                June 30,
                                                            ------------------       ------------------
                                                             2003       2002          2003       2002
                                                            ------     ------        ------     ------
                                                           (Dollars in thousands except per share data)
                                                                    (restated see           (restated see
                                                                      note 2)                  note 2)
<S>                                                         <C>        <C>           <C>        <C>
Net income                                                 $ 107       $  32         $ 320      $ 150
Other comprehensive income (loss)
        Unrealized gains (losses) on investment and
           mortgage-backed securities available-for-sale     122         116            58        (88)
Income tax (expense) benefit related to items of other
comprehensive income (loss)                                  (41)        (39)          (20)        30
                                                           -----       -----         -----      -----

Other comprehensive income (loss), after tax                  81          77            38        (58)
                                                           -----       -----         -----      -----

Comprehensive income                                       $ 188       $ 109         $ 358      $  92
                                                           =====       =====         =====      =====
</TABLE>

See notes to consolidated condensed financial statements.

                                     Page 3
<PAGE>

              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
                 Consolidated Condensed Statements of Cash Flows
                    Nine Months ended June 30, 2003 and 2002
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                        2003        2002
                                                                                      --------    --------
                                                                                      (Dollars in thousands)
                                                                                                  (restated
                                                                                                  see note 2)
<S>                                                                                   <C>         <C>
Cash flows from operating activities:
  Net income                                                                          $    320    $    150
  Adjustments to reconcile net income to net cash provided by operating activities:
    Provision for loan losses                                                               35          15
    Amortization of premiums and discounts on investment securities                         80          74
    Amortization of core deposit intangibles                                                18          22
    Deferred income tax expense, net                                                        (7)        121
    Federal Home Loan Bank stock dividend                                                  (58)        (54)
    Depreciation                                                                           128         116
    Mutual fund dividends reinvested                                                       (11)        (10)
    Deferred loan origination fees, net                                                    (53)         36
    Gain on sale of securities                                                             (20)       --
    ESOP shares committed to be released                                                    49          47
    MSBP compensation expense                                                               18          10
Change in:

        Accrued interest receivable                                                         84          42
        Other assets                                                                      (198)         20
        Income taxes                                                                       157         (87)
        Accrued expenses and other liabilities                                           1,978        (319)
                                                                                      --------    --------
           Net cash provided by operating activities                                     2,520         183

Cash flows from investing activities:

  Purchases of securities available-for-sale                                            (3,065)     (5,431)
  Proceeds from maturities, calls and prepayments of securities available-for-sale       5,949       8,058
  Proceeds from sales of securities available-for-sale                                     667        --
  Origination of loans receivable                                                      (21,550)    (23,649)
  Repayment of principal on loans receivable                                            19,841      14,098
  Purchases of premises and equipment                                                     (440)     (1,552)
  Proceeds from the sale of repossessed other assets                                       116        --
                                                                                      --------    --------
    Net cash provided by (used in) investing activities                                  1,518      (8,476)

Cash flows from financing activities:

  Net increase in deposits                                                               4,502       5,868
  Advances from Federal Home Loan Bank                                                     250       1,750
  Repayment of advances from Federal Home Loan Bank                                     (2,750)     (1,950)
  Net decrease in advances from borrowers for taxes and insurance                          (28)        (15)
  Exercise of stock options                                                                  5          47
  Dividends paid to stockholders                                                          (271)       (270)
                                                                                      --------    --------
    Net cash provided by financing activities                                            1,708       5,430
                                                                                      --------    --------
Net change in cash and cash equivalents                                                  5,746      (2,863)
Cash and cash equivalents at beginning of period                                         2,686       5,897
                                                                                      --------    --------
Cash and cash equivalents at end of period                                            $  8,432    $  3,034
                                                                                      ========    ========

Cash paid (received) during period for:

   Interest                                                                           $  1,423    $  1,709
   Income taxes                                                                            (25)         35
</TABLE>

See notes to consolidated condensed financial statements.

                                     Page 4
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                                  JUNE 30, 2003

NOTE 1:  BASIS OF PRESENTATION

The accompanying  unaudited interim consolidated  condensed financial statements
have been prepared in accordance with accounting  principles  generally accepted
in the United  States of America  ("GAAP")  for interim  financial  information.
Accordingly,  they do not include all of the information and footnotes  required
by GAAP for complete financial statements.  For further information,  the reader
should  refer to the Annual  Report on Form 10-KSB of Crazy Woman Creek  Bancorp
Incorporated (the "Company") for the fiscal year ended September 30, 2002.

In the opinion of management,  all adjustments  (consisting of normal  recurring
accruals)  considered  necessary for fair presentation  have been included.  The
results of operations  for the three and nine months ended June 30, 2003 are not
necessarily  indicative of the results, which may be expected for an entire year
or any other period.

The accompanying  consolidated  financial statements include the accounts of the
Company and Buffalo Federal Savings Bank (the "Bank"), a wholly-owned subsidiary
of the Company. All significant intercompany balances and transactions have been
eliminated in consolidation.

NOTE 2:  RESTATEMENT OF PRIOR PERIOD EARNINGS

In October 2002,  the  Financial  Accounting  Standards  Board  ("FASB")  issued
Statement of Financial  Accounting  Standards  ("SFAS") No. 147  Acquisition  of
Certain  Financial  Institutions - an amendment of SFAS Nos. 72 and 144 and FASB
Interpretations  No. 9. Under the provisions of SFAS No. 147, the acquisition of
all or part of a financial  institution  that meets the definition of a business
combination will be accounted for by the purchase method in accordance with SFAS
No.  141  Business   Combinations,   147  provides   that   long-term   customer
relationships intangible assets, except for servicing assets,  recognized in the
acquisition of a financial  institution,  be evaluated for impairment  under the
provision  of  SFAS  No.  144  Accounting  for the  Impairment  or  Disposal  of
Long-Lived Assets.

Per  guidance  issued in SFAS No. 147,  the Company has  evaluated  the goodwill
recognized in connection  with its branch  acquisition  and  determined  that it
meets the criteria of SFAS No. 147, and therefore the unidentifiable  intangible
asset has been  reclassified to goodwill and is subject to SFAS No. 142 Goodwill
and Other Intangible Assets. The reclassification  was retroactively  applied to
October 1, 2001, which resulted in the restatement of previously filed financial
statements.  The impact for the three and nine months ended June 30, 2002 was to
increase net earnings by $2,000 and $6,000, respectively. There was no impact on
basic or diluted  earnings per share from  previously  reported  numbers for the
three  months  ended June 30,  2002.  Basic and diluted  earnings per share each
increased  $0.01  per  share  from  $0.18  per  share to $0.19  per  share  from
previously reported numbers for the nine months ended June 30, 2002.

NOTE 3:  EARNINGS PER SHARE

Basic  earnings  per share  ("EPS") is computed  by  dividing  net income by the
weighted-average  number of common  shares  outstanding  during the period  less
unvested  management  stock  bonus  plan  (MSBP)  and  unallocated  and  not yet
committed to be released  Employee Stock  Ownership Plan (ESOP) shares.  Diluted
EPS is  calculated  by  dividing  net income by the  weighted-average  number of
common shares used to compute basic EPS plus the incremental amount of potential
common stock determined by the treasury stock method.

                                     Page 5
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                                  JUNE 30, 2003
<TABLE>
<CAPTION>
                                                                For the Three Months ended June 30, 2003
                                                          Net Income        Average Shares      Per Share Amount
                                                       --------------------------------------------------------------
<S>                                                      <C>                   <C>                  <C>
BASIC EPS
  Net income available to common stockholders            $ 107,000             804,044              $ 0.13
EFFECT OF DILUTIVE SECURITIES                                                                       ======
  Incremental shares under stock option plan                    --              13,226
  Incremental shares related to MSBP                            --                 995
                                                         ---------            --------
DILUTED EPS
  Income available to common stockholders plus
    assumed conversions                                  $ 107,000             818,265              $ 0.13
                                                         =========            ========              ======
<CAPTION>

                                                                 For the Three Months ended June 30, 2002
                                                         Net Income         Average Shares       Per Share Amount
                                                      ---------------------------------------------------------------
<S>                                                      <C>                   <C>                  <C>
BASIC EPS
  Net income available to common stockholders            $  32,000             797,587              $ 0.04
EFFECT OF DILUTIVE SECURITIES                                                                       ======
  Incremental shares under stock option plan                    --              12,132
  Incremental shares related to MSBP                            --                 701
                                                         ---------            --------
DILUTED EPS
  Income available to common stockholders plus
    assumed conversions                                  $  32,000             810,420              $ 0.04
                                                         =========             =======              ======
<CAPTION>


                                                                  For the Nine Months ended June 30, 2003
                                                          Net Income        Average Shares        Per Share Amount
                                                       --------------------------------------------------------------
<S>                                                      <C>                   <C>                  <C>
BASIC EPS
  Net income available to common stockholders            $ 320,000             802,265              $ 0.40
EFFECT OF DILUTIVE SECURITIES
  Incremental shares under stock option plan                    --              10,954
  Incremental shares related to MSBP                            --                 778
                                                         ---------            --------
DILUTED EPS
  Income available to common stockholders plus
    assumed conversions                                  $ 320,000             813,997              $ 0.39
                                                         =========            ========              ======
<CAPTION>

                                                                  For the Nine Months ended June 30, 2002
                                                          Net Income        Average Shares        Per Share Amount
                                                       --------------------------------------------------------------
<S>                                                      <C>                  <C>                   <C>
BASIC EPS
  Net income available to common stockholders            $ 150,000            794,112               $ 0.19
EFFECT OF DILUTIVE SECURITIES

  Incremental shares under stock option plan                    --              10,414
  Incremental shares related to MSBP                            --                 404
                                                         ---------            --------
DILUTED EPS
  Income available to common stockholders plus
    assumed conversions                                  $ 150,000             804,930              $ 0.19
                                                         =========            ========              ======
</TABLE>

                                     Page 6
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                                  JUNE 30, 2003

NOTE 4:  STOCK BASED COMPENSATION

In October 2002, the FASB issued  Statement No. 148,  Accounting for Stock-Based
Compensation-Transition   and  Disclosure,   providing  alternative  methods  of
transition  for a voluntary  change to the fair value based method of accounting
for stock-based employee  compensation.  SFAS No. 148 also amends the disclosure
requirements  of SFAS No.  123,  Accounting  for  Stock-Based  Compensation,  to
include prominent  disclosures in annual and interim financial  statements about
the method of accounting for stock-based employee compensation and the effect of
the  method  used on  reported  results.  The  Company  adopted  the  disclosure
provisions of SFAS No. 148 on December 31, 2002.

Based on the terms of options granted and using the intrinsic  value method,  no
compensation  cost  has been  recognized  for any  stock  option  grants  in the
accompanying  consolidated  financial  statements.  Had the  Company  determined
compensation  cost based on the  estimated  fair value at the grant date for its
stock  options,  the Company's net income and net income per share for the three
and nine months ended June 30, 2003 and 2002 would have been as follows:
<TABLE>
<CAPTION>
                                                            Three Months Ended                  Nine Months Ended
                                                                 June 30,                           June 30,
                                                            2003            2002               2003          2002
                                                           ------          ------             ------        ------
<S>                                                          <C>            <C>                <C>           <C>
Net income, as reported                                      $107           $ 32               $320          $150
Deduct:  Total stock-based employee
    compensation expense determined under fair
    value based method for all awards, net of
    related tax effects                                        (2)            (1)                (4)           (3)
                                                            -----           ----               ----          ----
Pro forma net income                                          105             31                316           147

Basic earnings per share:     As reported                   $ .13            .04                .40           .19
                              Pro forma                       .13            .04                .39           .19
Diluted earnings per share:   As reported                   $ .13            .04                .39           .19
                              Pro forma                       .13            .04                .39           .18
</TABLE>

The per share  weighted-average  fair value of stock options granted during 2002
for this pro forma  disclosure was $2.22,  determined on the date of grant using
the Black-Scholes option-pricing model with the following assumptions:  expected
dividend yield of 4.8%,  risk-free interest rate of 2.75%,  volatility factor of
21%, and expected life of 7 years. The per share  weighted-average fair value of
stock  options  granted  during  2003 for this pro forma  disclosure  was $1.27,
determined  on the date of grant using the  Black-Scholes  option-pricing  model
with the  following  assumptions:  expected  dividend  yield of 4.8%,  risk-free
interest rate of 1.26%, volatility factor of 19%, and expected life of 7 years.


                                     Page 7
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
            MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS
                                  JUNE 30, 2003

FORWARD LOOKING STATEMENTS
--------------------------
The  Company  may  from  time  to time  make  written  or oral  "forward-looking
statements",  including  statements  contained in the Company's filings with the
Securities and Exchange  Commission  (including  this  Quarterly  Report on Form
10-QSB and the exhibits  thereto),  in its reports to stockholders  and in other
communications  by the  Company,  which  are made in good  faith by the  Company
pursuant to the "safe  harbor"  provision of the Private  Securities  Litigation
Reform Act of 1995.

These  forward-looking  statements  involve  risks  and  uncertainties,  such as
statements  of the  Company's  plans,  objectives,  expectations,  estimates and
intentions, that are subject to changes based on various important factors (some
of which are beyond the Company's control). The following factors, among others,
could cause the Company's  financial  performance to differ  materially from the
plans,  objectives,  expectations,  estimates and  intentions  expressed in such
forward-looking statements: the strength of the United States economy in general
and the strength of the local economy in which the Company conducts  operations;
the effects of, and changes in,  trade,  monetary and fiscal  policies and laws,
including  interest  rate  policies  of the board of  governors  of the  federal
reserve system, inflation, interest rates, market and monetary fluctuations; the
timely development of and acceptance of new products and services of the Company
and the  perceived  overall  value of these  products  and  services  by  users,
including the features,  pricing and quality  compared to competitors'  products
and services;  the willingness of users to substitute  competitors' products and
services for the Company's products and services;  the success of the Company in
gaining  regulatory  approval of its products and services,  when required;  the
impact of changes in financial  services' laws and  regulations  (including laws
concerning taxes,  banking,  securities and insurance);  technological  changes;
acquisitions; changes in consumer spending and saving habits; and the success of
the Company at managing the risks resulting from these factors.

The Company cautions that the listed factors are not exclusive. The Company does
not undertake to update any forward-looking statement,  whether written or oral,
that may be made from time to time by or on behalf of the Company.

GENERAL
-------
The  Company is a unitary  savings  and loan  holding  company of the Bank.  The
Company's  assets are  comprised  of its  investment  in the Bank, a loan to the
ESOP, a loan to the Bank,  and shares held in mutual  funds.  The Bank  attracts
deposits  from the general  public and uses such  deposits,  together with other
funds,  primarily to originate commercial mortgages,  commercial loans, consumer
loans and loans secured by first mortgages on one-to-four  family  residences in
its market areas. The Bank occasionally utilizes funds obtained from the Federal
Home Loan  Bank of  Seattle  ("FHLB")  to fund the loan  originations.  The Bank
invests  in  mortgage-backed  securities,  municipal  bonds and  short-term  and
medium-term U.S. Agency securities.

The Bank's net income is dependent  primarily on its net interest income,  which
is the difference between interest income earned on its interest-earning  assets
and interest expense paid on interest-bearing  liabilities.  Net interest income
is determined by (i) the difference  between  yields earned on  interest-earning
assets and rates paid on interest-bearing liabilities (interest rate spread) and
(ii) the  relative  amounts  of  interest-earning  assets  and  interest-bearing
liabilities. The Bank's interest rate spread is affected by regulatory, economic
and competitive  factors that influence  interest rates, loan demand and deposit
flows.  To a lesser extent,  the Bank's net income is also affected by the level
of non-interest  income,  which primarily  consists of service charges and other
operating  income.  In  addition,  net  income  is  affected  by  the  level  of
non-interest (general and administrative) expenses.

                                     Page 8
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
            MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)
                                  JUNE 30, 2003

CRITICAL ACCOUNTING POLICIES
----------------------------

Companies may apply certain critical accounting policies requiring management to
make subjective or complex judgments,  often as a result of the need to estimate
the effect of matters that are inherently  uncertain.  The Company considers its
only  critical  accounting  policy  to be the  allowance  for loan  losses.  The
allowance  for loan losses is  established  through a provision  for loan losses
charged  against  earnings.  The  balance  of  allowance  for  loan  losses  are
maintained  at the amount  management  believes will be adequate to absorb known
and inherent losses in the loan portfolio.  The appropriate balance of allowance
for loan losses is determined by applying  estimated  loss factors to the credit
exposure from outstanding loans.  Estimated loss factors are based on subjective
measurements   including   management's   assessment   of  the   internal   risk
classifications,   changes  in  the  nature  of  the  loan  portfolio,  industry
concentrations  and the impact of current local,  regional and national economic
factors on the quality of the loan  portfolio.  Changes in these  estimates  and
assumptions  are  reasonably  possible  and may have a  material  impact  on the
Company's consolidated financial statements,  results of operation or liquidity.
At June 30, 2003,  the loan loss reserve was $382,000 as compared to $337,000 at
September 30, 2002.

FINANCIAL CONDITION
-------------------

ASSETS

At June 30, 2003,  assets totaled  $79.731  million  compared to total assets of
$75.521  million at September  30, 2002.  The increase was primarily a result of
increases in cash and cash equivalents and loans  receivable,  net, which offset
the decline in investment and mortgage-backed securities available-for-sale from
prepayments and scheduled payments.

Securities available-for-sale decreased by $3.542 million during the nine months
ended June 30, 2003.  Securities  prepayments,  calls and  maturities  of $5.949
million were  received on  investment  securities  available-for-sale.  Security
purchases were $3.065 million for the nine months ended June 30, 2003.  Security
sales  accounted  for $667,000  with a gain of $20,000.  The market value of the
securities  increased  $58,000 during the period.  Amortization  of premiums and
discounts and dividends accounted for $69,000 of the decrease in securities.

Loans receivable  increased $1.626 million during the nine months ended June 30,
2003.  During this period,  the Bank originated  loans totaling $21.550 million,
comprised of residential mortgage loans totaling $9.061 million, non-residential
mortgage loans totaling $7.204 million,  consumer loans totaling $1.708 million,
and commercial loans totaling $3.577 million.  During the same period,  the Bank
received scheduled  principal payments and prepayments  totaling $19.841 million
on its loan portfolio.

LIABILITIES

Deposits  increased by $4.502 million from $46.783 million at September 30, 2002
to $51.285  million at June 30, 2003. The increases were  attributable to slight
decreases in checking and savings, and increases in money market and certificate
accounts.

Advances from the FHLB  decreased  $2.500  million  during the nine months ended
June 30, 2003.  The advances are a supplement to the Bank's retail  deposits and
were paid down from the increase in deposits.


                                     Page 9
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
            MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)
                                  JUNE 30, 2003

All other  liabilities  increased by $2.049 million during the nine months ended
June 30,  2003 and were mainly the result of the  increase  in accrued  interest
payable and outstanding corporate checks.

STOCKHOLDERS' EQUITY

Stockholders'  equity  increased  $159,000 during the nine months ended June 30,
2003.  The increase was primarily the result of current  earnings less dividends
paid,  the  exercise  of stock  options,  and the  increase  in market  value on
available-for-sale securities.

ASSET QUALITY
-------------

Non-performing  assets  totaled  $645,000  at June 30,  2003,  or 0.81% of total
assets. This compares to $96,000 at September 30, 2002 or 0.13% of total assets.
Non-performing  assets at June 30, 2003  consisted of one consumer  loan and one
commercial  mortgage loan and other repossessed assets related to one commercial
loan.

RESULTS OF OPERATIONS
---------------------

Comparison of Three Months Ended June 30, 2003 and 2002.
-------------------------------------------------------

Net  Income.  Net income for the three  months  ended June 30,  2003 was $75,000
-----------
higher than net income  reported  for the same period in 2002.  The  increase is
attributable to a $45,000 increase in net interest income and a $20,000 increase
in non-interest income, a $31,000 decrease in non-interest expense and a $15,000
decrease in the provision for loan losses offset by a $36,000 increase in income
tax expense.  The net interest income  increase was primarily  attributable to a
decrease  in  the  cost  of  interest-bearing   liabilities.   The  decrease  in
non-interest  expense  is  primarily  attributable  to  a  $44,000  decrease  in
compensation and benefits and a $6,000 decrease in advertising, partially offset
by a $21,000 increase in professional fees. There were no other material changes
in non-interest expenses.

Interest Income. Total interest income decreased by $44,000 for the three months
---------------
ended June 30, 2003. Interest income totaled $1.035 million for the three months
ended June 30,  2003 as compared to $1.079  million for the three  months  ended
June 30, 2002.

An  increase  in the  volume of average  interest-earning  assets  from  $67.402
million for the three months ended June 30, 2002 to $70.858 million for the same
period in 2003  contributed to a $74,000 increase in interest income. A decrease
was experienced in the yield on average  interest-earning  assets from 6.40% for
the three  months  ended June 30, 2002 to 5.84% for the three  months ended June
30, 2003, which contributed to a $118,000 decrease in interest income.

Interest Expense.  Total interest expense decreased by $89,000 from $533,000 for
----------------
the three  months  ended June 30, 2002 to $444,000  for the same period in 2003.
This  was   primarily   a  result  of  a   decrease   in  the  cost  of  average
interest-bearing liabilities as a result of lower market interest rates.

Interest expense for deposits, including deposit premium amortization, decreased
by $77,000  from  $329,000  for the three months ended June 30, 2002 to $252,000
for the same  period  in 2003.  The cost of  average  interest-bearing  deposits
decreased  from 3.05% for the three  months ended June 30, 2002 to 2.15%

                                    Page 10
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
            MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)
                                  JUNE 30, 2003

for the three  months ended June 30, 2003,  which  caused  interest  expense for
deposits  to  decrease  by  $105,000.  An  increase  in the  volume  of  average
interest-bearing  deposits from $43.144  million for the three months ended June
30, 2002, to $46.876 million for the three months ended June 30, 2003,  resulted
in a $28,000 increase in interest expense for deposits.

Interest expense for advances from the FHLB and other interest expense decreased
by $12,000  from  $204,000  for the three months ended June 30, 2002 to $192,000
for the same period in 2003. The cost of average interest-bearing  advances from
the FHLB  increased from 6.09% for the three months ended June 30, 2002 to 6.16%
for the same  period in 2003 which  resulted  in a $2,000  increase  in interest
expense.  Average  interest-bearing  advances decreased from $13.402 million for
the three month  period  ended June 30,  2002,  to $12.475  million for the same
period  2003,  and  resulted  in a $14,000  decrease  in  interest  expense  for
advances.

Net Interest Income.  Net interest income increased by $45,000 from $546,000 for
-------------------
the three months ended June 30, 2002 to $591,000 for the three months ended June
30, 2003. The increase in net interest  income was partially due to the decrease
in the cost of  average  interest-bearing  liabilities  and which was  partially
offset by a decrease in the rate earned for average  interest-earning  assets as
evidenced by the  increase in the interest  rate spread from 2.63% for the three
months ended June 30, 2002 to 2.85% for the three months ended June 30, 2003.

Net  interest  margin  increased  from 3.24% for the three months ended June 30,
2002 to 3.34% for the three  months  ended June 30,  2003.  The  increase in net
interest  margin was primarily  caused by the  disproportionate  decrease in the
cost of interest-bearing liabilities compared to rate earned by interest-earning
assets.

Provision for Loan Losses.  A $0 and $15,000  provision was recorded  during the
-------------------------
three  months  ended June 30, 2003 and 2002,  respectively.  There was $3,000 of
loan  charge-offs  for the three  months  ended June 30,  2003 while  recoveries
totaled  $2,000.  In the three months ended June 30, 2002,  there was $20,000 in
loan charge-offs while recoveries totaled $7,000.

Total  Non-interest  Income.  Total  non-interest  income increased $20,000 from
---------------------------
$23,000 for the three  months ended June 30, 2002 to $43,000 for the same period
in 2003.  This  primarily  was the result of an  increase  in  customer  service
charges during the three months ended June 30, 2003.

Total Non-interest Expense. Total non-interest expense decreased by $31,000 from
--------------------------
$511,000  for the three  months  ended June 30, 2002 to  $480,000  for the three
months  ended June 30,  2003.  The  decrease  was  attributable  to decreases in
compensation  and benefits and  advertising  offset by increases in professional
fees. There were no other material differences in non-interest expenses.

Provision  for Income  Taxes.  The effective tax rate for the three months ended
----------------------------
June 30, 2003 and 2002 was 30.52% and 25.58%,  respectively.  The  effective tax
rate was higher  during 2003 than 2002 due to the  relationship  of  non-taxable
income to total income.

                                    Page 11
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
            MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)
                                  JUNE 30, 2003

Comparison of Nine Months Ended June 30, 2003 and 2002.
------------------------------------------------------

Net Income.  Net income for the nine months  ended June 30, 2003 was higher than
----------
net income  reported for the same period in 2002  primarily due to increased net
interest  income.  Specifically  the  increase  is  attributable  to a  $290,000
increase in net interest income a $40,000 increase in non-interest income, and a
$26,000  decrease in compensation  and benefits.  These increases were partially
offset  by a  $20,000  increase  in the  provision  for loan  losses,  a $41,000
increase in  occupancy  and  equipment,  a $12,000  increase in data  processing
costs,  a $17,000  increase in  professional  fees, a $15,000  increase in other
non-interest  expenses,  and a increase of $79,000 in income tax expense.  Other
changes in expense items were not material.  The increase in net interest income
was  primarily  attributed  to  a  decrease  in  the  cost  of  interest-bearing
liabilities for the nine-month period ended June 30, 2003.

Interest  Income.  For the nine  months  ended June 30,  2003,  interest  income
----------------
totaled $3.229 million compared to $3.239 million for the nine months ended June
30,  2002.  An  increase in the volume of average  interest-earning  assets from
$67.259  million for the nine months ended June 30, 2002 to $71.213  million for
the same  period in 2003 caused  interest  income to  increase  by  $353,000.  A
decrease was  experienced in the yield on average  interest-earning  assets from
6.42% for the nine months ended June 30, 2002 to 6.05% for the nine months ended
June 30, 2003, which contributed to a $363,000 decrease in interest income.

Interest  Expense.  Total  interest  expense  decreased by $300,000  from $1.701
-----------------
million for the nine months  ended June 30, 2002 to $1.401  million for the same
period in 2003. This was primarily a result of a decrease in the cost of average
interest-bearing liabilities.

Interest expense for deposits including deposit premium  amortization  decreased
by  $273,000  from $1.076  million  for the nine  months  ended June 30, 2002 to
$803,000  for the same  period  in 2003.  The cost of  average  interest-bearing
deposits  decreased  from 3.39% for the nine months ended June 30, 2002 to 2.33%
for the nine months  ended June 30,  2003,  which  caused  interest  expense for
deposits  to  decrease  by  $336,000.  An  increase  in the  volume  of  average
interest-bearing  deposits  from $42.301  million for the nine months ended June
30, 2002 to $46.045 million for the nine months ended June 30, 2003, resulted in
a $63,000 increase in interest expense for deposits.

Interest expense for advances from the FHLB and other interest expense decreased
by $27,000 from $625,000 for the nine months ended June 30, 2002 to $598,000 for
the same period in 2003. The cost of average interest-bearing  advances from the
FHLB  decreased  from 6.22% for the nine months ended June 30, 2002 to 5.90% for
the same period in 2003.  This decrease in the cost of average  interest-bearing
advances caused a $32,000 decrease in interest expense. Average interest-bearing
advances increased from $13.401 million for the nine month period ended June 30,
2002 to $13.523 million for the nine month period ended June 30, 2003, resulting
in a $5,000 increase in interest expense for advances.

Net  Interest  Income Net  interest  income  increased  by $290,000  from $1.538
---------------------
million for the nine months  ended June 30, 2002 to $1.828  million for the nine
months ended June 30, 2003.  The increase in net interest  income was  partially
due to the decrease in the cost of average  interest-bearing  liabilities  which
was   partially   offset  by  a  decrease   in  the  rate   earned  for  average
interest-earning assets as evidenced by the increase in the interest rate spread
from 2.35% for the nine months  ended June 30, 2002 to 2.91% for the nine months
ended June 30, 2003. The increase in average  interest-bearing  liabilities  was
only  partially  offset by an  increase  in average  interest-earning  assets as
evidenced  by the  decrease of the ratio of average  interest-earning  assets to
average  interest-bearing  liabilities  from 120.75% in 2002 to 119.55% in 2003.


                                    Page 12
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
            MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)
                                  JUNE 30, 2003

The decrease in the cost of average interest-bearing  liabilities were the major
factors for the increase in net interest income.

Net interest margin increased from 3.05% for the nine months ended June 30, 2002
to 3.42% for the nine months ended June 30,  2003.  The increase in net interest
margin  was  primarily  caused  by the  disproportionate  decrease  in  cost  of
interest-bearing  liabilities  compared  to  decrease  in  the  rate  earned  by
interest-earning assets.

Provision for Loan Losses A $35,000 and $15,000  provision  was recorded  during
-------------------------
the nine months ended June 30, 2003 and 2002, respectively.  There was $3,000 in
loan  charge-offs  for the nine  months  ended June 30,  2003  while  recoveries
totaled  $13,000.  In the nine months ended June 30, 2002,  there was $21,000 in
loan charge-offs while recoveries totaled $13,000.

Total  Non-interest  Income Total  non-interest  income  increased  $40,000 from
---------------------------
$86,000 for the nine months  ended June 30, 2002 to $126,000 for the same period
in 2003. This was the result of a gain on sale of securities  available-for-sale
and an increase in customer  service  charges  during the nine months ended June
30, 2003.

Total Non-interest  Expense Total non-interest expense increased by $61,000 from
---------------------------
$1.410 million for the nine months ended June 30, 2002 to $1.451 million for the
nine  months  ended  June 30,  2003.  There  were  increases  in  occupancy  and
equipment,  data  processing  costs,  professional  fees and other  non-interest
expenses partially offset by a decrease in compensation and benefits. There were
no other material differences in non-interest expenses.

Provision for Income Taxes The effective tax rate for the nine months ended June
--------------------------
30, 2003 and 2002 was 28.57% and 24.62%,  respectively.  The  effective tax rate
was higher in 2003 than in 2002 due to an  increase  in  taxable  income and the
relationship of non-taxable income to total income.

                                    Page 13
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
            MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)
                                  JUNE 30, 2003

CAPITAL COMPLIANCE AND LIQUIDITY
--------------------------------

Capital Compliance.  The following table presents the Bank's compliance with its
------------------
regulatory capital requirements:
<TABLE>
<CAPTION>
                                                                 At June 30, 2003
                                                             --------------------------
                                                                            Percentage
                                                             Amount       of Assets (2)
                                                             ------       -------------
                                                             (Dollars in thousands)

<S>                                                         <C>              <C>
GAAP Capital ........................................       $11,530          14.76%

Tangible capital ....................................       $11,025          14.11%
Tangible capital requirement ........................         1,172           1.50%
                                                            -------          -----
Excess ..............................................       $ 9,853          12.61%
                                                            =======          =====

Core capital ........................................       $11,137          14.26%
Core capital requirements ...........................         1,525           3.00%
                                                            -------          -----
Excess ..............................................       $ 9,612          11.26%
                                                            =======          =====

Total risk-based capital (1) ........................       $11,519          22.67%
Total risk-based capital requirement (1) ............         4,066           8.00%
                                                            -------          -----
Excess (1) ..........................................       $ 7,453          14.67%
                                                            =======          =====
<FN>
_________
1)   Based on  risk-weighted  assets of $50,820
2)   Based on the Bank's adjusted total assets of $78,114
</FN>
</TABLE>

Management believes that, under current  regulations,  the Bank will continue to
meet its minimum capital  requirements in the foreseeable future.  Events beyond
the control of the Bank,  such as increased  interest rates or a downturn in the
economy  in areas in which  the Bank  operates  could  adversely  affect  future
earnings  and, as a result,  the ability of the Bank to meet its future  minimum
capital requirements.

The Bank,  before and after any  proposed  capital  distributions,  must meet or
exceed all capital  requirements and is permitted to make capital  distributions
with prior notice to the Office of Thrift  Supervision  during any calendar year
up to a total of current year net income and the  preceding two years net income
less  dividends paid during the previous two years.  The Bank currently  exceeds
all capital requirements and has been assessed as  "well-capitalized"  under the
regulatory guidelines.

Liquidity. The Bank is required under federal regulations to maintain sufficient
---------
liquidity  to insure its safe and sound  operation.  The Bank's  liquidity  is a
measure of its ability to fund loans,  pay  withdrawals  of deposits,  and other
cash outflows in an efficient,  cost effective manner. The Bank's primary source
of funds are deposits and scheduled amortization and prepayment of loans. During
the past  several  years,  the Bank has used such  funds to fund  maturing  time
deposits,  pay savings  withdrawals,  fund  lending  commitments,  purchase  new
investments,  and increase liquidity.  The Bank funds its operations  internally
but  supplements  with  borrowed  funds from the FHLB.  As of June 30, 2003 such
borrowed funds totaled $11.700 million.  Loan payments and maturing  investments
are greatly  influenced  by general  interest  rates,  economic  conditions  and
competition.

The amount of  certificate  accounts and FHLB  advances  which are  scheduled to
mature during the twelve months  ending June 30, 2004 is  approximately  $21.987
million and $0, respectively. To the extent that these deposits do not remain at
the Bank upon  maturity,  the Bank believes that it can replace these funds

                                    Page 14
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
            MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)
                                  JUNE 30, 2003

with deposits, excess liquidity,  FHLB advances or outside borrowings.  The Bank
has $5.764 million of excess borrowing  capacity at FHLB as of June 30, 2003. It
has been the Bank's  experience  that a  substantial  portion  of such  maturing
deposits remain at the Bank. No assurances,  however,  can be made that deposits
can be maintained in the future without further  increasing the cost of funds if
interest rates increase.

At June 30, 2003, the Bank had loan  commitments  outstanding of $4.942 million.
Funds  required to fill these  commitments  are derived  primarily  from current
excess  liquidity,  deposit  inflows or loan and investment and  mortgage-backed
security repayments, and, if necessary, through FHLB advances.

The  Company's  primary  source of liquidity on a stand alone basis is dividends
received from the Bank. As indicated above under "Capital Compliance", dividends
paid by the Bank are subject to regulatory restrictions.

KEY OPERATING RATIOS
--------------------
<TABLE>
<CAPTION>
                                                    Three Months Ended                     Nine Months Ended
                                                         June 30,                               June 30,
                                            -----------------------------------    -----------------------------------
                                               2003 (1)           2002 (1)            2003 (1)            2002 (1)
                                                          (Dollars in thousands, except per share data)
<S>                                             <C>                <C>                 <C>                 <C>
Return on average assets                        0.57%              0.18%               0.57%               0.28%
Return on average equity                        3.13%              0.94%               3.14%               1.47%
Interest rate spread                            2.85%              2.63%               2.91%               2.35%
Net interest margin                             3.34%              3.24%               3.42%               3.05%
Non-interest expense to average
   assets                                       2.55%              2.85%               2.56%               2.64%
Net charge offs/(recoveries) to
    average outstanding loans                   0.00%              0.03%              (0.02%)              0.02%
<CAPTION>

                                              At June 30,           At September
                                                  2003               30, 2002
                                            --------------------------------------
<S>                                               <C>                 <C>
Nonaccrual and 90 days past due
   loans                                          $  564              $  --
Repossessed other assets                              81                  96
                                                  ------              ------
  Total nonperforming assets                      $  645              $   96
                                                  ======              ======
Nonperforming loans to gross loans                  1.22%                 --
Nonperforming assets to total assets                0.81%               0.13%
Book value per share (2)                          $16.77              $16.59
<FN>
________________

(1)  The ratios for the three and nine month periods are annualized.
(2)  The number of shares  outstanding as of June 30, 2003 was 811,608 and as of
     September 30, 2002 was 811,208. These include shares purchased by the ESOP.
</FN>
</TABLE>

                                    Page 15
<PAGE>

              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
                             CONTROLS AND PROCEDURES
                                  JUNE 30, 2003

CONTROLS AND PROCEDURES

(a) Evaluation of disclosure controls and procedures.  Based on their evaluation
of the  Company's  disclosure  controls  and  procedures  (as  defined  in  Rule
13a-15(e) under the Securities  Exchange Act of 1934 (the "Exchange Act")),  the
Company's  principal  executive  officer and  principal  financial  officer have
concluded that as of the end of the period  covered by this Quarterly  Report on
Form 10-QSB such disclosure controls and procedures are effective to ensure that
information  required to be disclosed by the Company in reports that it files or
submits under the Exchange Act is recorded,  processed,  summarized and reported
within the time periods  specified in Securities and Exchange  Commission  rules
and forms.

(b) Changes in internal  control over  financial  reporting.  During the quarter
under  report,  there was no  change  in the  Company's  internal  control  over
financial  reporting that has materially  affected,  or is reasonably  likely to
materially affect, the Company's internal control over financial reporting.

                                    Page 16
<PAGE>

                           PART II - OTHER INFORMATION
                           ---------------------------

Item 1.  Legal Proceedings
         -----------------

         Neither the Company nor the Bank was engaged in any legal proceeding of
         a material nature at June 30, 2003. From time to time, the Company is a
         party to legal  proceedings in the ordinary course of business  wherein
         it enforces its security interest in loans.

Item 2.  Changes in Securities and Use of Proceeds
         -----------------------------------------

         Not applicable.

Item 3.  Defaults Upon Senior Securities
         -------------------------------

         Not applicable.

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

         Not applicable.

Item 5.  Other Information
         -----------------

         Not applicable.

Item 6.  Exhibits and Reports on Form 8-K
         --------------------------------

         (a)      Exhibits

                  Exhibit 31 -  CERTIFICATIONS PURSUANT TO RULE 13a-14 UNDER THE
                                SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

                  Exhibit 32 -  CERTIFICATION PURSUANT TO 18 U.S.C.ss.1350

         (b)      Reports on Form 8-K

                  None

                                    Page 17
<PAGE>

              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY

                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                 CRAZY WOMAN CREEK BANCORP INCORPORATED




Date: August 13, 2003            By: /s/ Gary J. Havens
                                     -------------------------------------------
                                     Gary J. Havens
                                     President and Chief Executive Officer
                                     (Principal Executive Officer)



Date: August 13, 2003            By: /s/ John B. Snyder
                                    --------------------------------------------
                                    John B. Snyder
                                    Vice President and Chief Financial Officer
                                    (Principal Accounting and Financial Officer)