SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C.

                                   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, 2002

                                       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 14, 2002:  811,208

Transitional Small Business Disclosure Format (check one):  Yes    No  X
                                                                --     --
<PAGE>
                     CRAZY WOMAN CREEK BANCORP INCORPORATED

                              INDEX TO FORM 10-QSB
<TABLE>
<CAPTION>


                                                                                           Page
                                                                                           ----
<S>      <C>                                                                           <C>
PART I      FINANCIAL INFORMATION
            ---------------------

Item 1.     Financial Statements (unaudited)

            Consolidated Condensed Statements of Financial Condition at June 30,
            2002 and September 30, 2001                                                       1

            Consolidated Condensed Statements of Income for the Three and Nine
            Months ended June 30, 2002 and 2001                                               2

            Consolidated Condensed Statements of Comprehensive Income for the Three
            and Nine Months ended June 30, 2002 and 2001                                      3

            Consolidated Condensed Statements of Cash Flows for the Nine Months
            ended June 30, 2002 and 2001                                                      4

            Notes to Consolidated Condensed Financial Statements                              5

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


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
</TABLE>

<PAGE>

              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
            Consolidated Condensed Statements of Financial Condition
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                            June 30,             September 30,
                                                                             2002                    2001
                                                                         -------------        ----------------

<S>                                                                    <C>                     <C>
Assets                                                                           (Dollars in thousands,
------                                                                           except per share data)

Cash and cash equivalents                                                 $     3,034             $   $ 5,897
Investment and mortgage-backed securities available-for-sale                   19,223                  22,003
Stock in Federal Home Loan Bank of Seattle, at cost                             1,182                   1,128
Loans receivable, net                                                          46,558                  37,058
Accrued interest receivable                                                       387                     429
Premises and equipment, net                                                     3,307                   1,871
Income tax receivable                                                              90                      --
Goodwill and other intangible assets, net of accumulated
     amortization of $65 and $34 at June 30, 2002 and
     September 30, 2001, respectively                                             245                     276
Other assets                                                                       91                     111
                                                                          -----------             -----------
                                                                          $   $74,117             $   $68,773
                                                                          ===========             ===========
Liabilities and Stockholders' Equity
------------------------------------
Liabilities:
  Deposits                                                                $    46,577             $    40,709
  Advances from Federal Home Loan Bank                                         13,200                  13,400
  Advance payments by borrowers for taxes and insurance                            52                      67
  Deferred income taxes                                                           304                     213
  Dividends payable                                                                97                      97
  Accrued expenses and other liabilities                                          410                     729
                                                                          ------------            -----------
    Total liabilities                                                          60,640                  55,215
                                                                          -----------             -----------
Stockholders' equity:
  Preferred stock, par value $.10 per share,  2,000,000 shares
     authorized;  none issued and outstanding at June 30, 2002
     and September 30, 2001                                                        --                      --
  Common stock, par value $.10 per share, 5,000,000 shares
     authorized; 1,058,000 issued and outstanding at June 30, 2002
     and September 30, 2001                                                       106                     106
  Additional paid-in capital                                                   10,135                  10,117
  Unearned ESOP/MSBP shares                                                      (407)                   (429)
  Retained earnings                                                             6,999                   7,125
  Accumulated other comprehensive income, net                                     136                     195
  Treasury stock at cost, 262,476 and 267,876 shares at
     June 30, 2002 and September 30, 2001, respectively                        (3,492)                (3,556)
                                                                          -----------             -----------
    Total stockholders' equity                                                 13,477                  13,558
                                                                          -----------             -----------
                                                                          $    74,117             $    68,773
                                                                          ===========             ===========
</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,
                                                   ------------------------------    -------------------------------
                                                       2002              2001             2002              2001
                                                   ------------     -------------    -------------     -------------
                                                            (Dollars in thousands except per share data)
<S>                                                 <C>               <C>              <C>               <C>
Interest income:
  Loans receivable                                     $   823           $   703          $ 2,379           $ 1,953
  Mortgage-backed securities                               172               185              586               536
  Investment securities                                     64               170              184               662
  Other interest income                                     20                52               90               130
                                                   ------------     -------------    -------------     -------------
     Total interest income                               1,079             1,110            3,239             3,281
Interest expense:
  Deposits                                                 329               430            1,076             1,230
  Advances from Federal Home Loan Bank                     204               258              623               824
  Other interest expense                                    --                 1                2                 3
                                                   ------------     -------------    -------------     -------------
     Total interest expense                                533               689            1,701             2,057
                                                   ------------     -------------    -------------     -------------
     Net interest income                                   546               421            1,538             1,224
Provision for loan losses                                   15                --               15                --
                                                   ------------     -------------    -------------     -------------
     Net interest income after
        provision for loan losses                          531               421            1,523             1,224
                                                   ------------     -------------    -------------     -------------
Non-interest income:
  Customer service charges                                  23                23               64                58
  Other operating income                                    --                11               22                27
                                                   ------------     -------------    -------------     -------------
     Total non-interest income                              23                34               86                85
                                                   ------------     -------------    -------------     -------------
Non-interest expense:
  Compensation and benefits                                267               212              739               581
  Occupancy and equipment                                   80                40              173                96
  FDIC/SAIF deposit insurance premiums                       1                 1                5                 5
  Advertising                                               20                12               50                33
  Data processing services                                  41                35              109                93
  Professional fees                                         18                15               90                62
  Loss on disposal of assets                                --                --               --                11
  Amortization of goodwill                                   3                 3                9                 6
  Other                                                     84                52              244               158
                                                   ------------     -------------    -------------     -------------
     Total non-interest expense                            514               370            1,419             1,045
                                                   ------------     -------------    -------------     -------------
     Income before income taxes                             40                85              190               264
Income tax expense                                          10                25               46                77
                                                   ------------     -------------    -------------     -------------
     Net income                                        $    30           $    60          $   144           $   187
                                                   ============     =============    =============     =============

Dividends declared per common share                    $  0.12           $  0.12          $  0.36           $  0.36
                                                   ============     =============    =============     =============
Basic earnings per common share                        $  0.04           $  0.08          $  0.18           $  0.24
                                                   ============     =============    =============
Diluted earnings per common share                      $  0.04           $  0.08          $  0.18           $  0.24
                                                   ============     =============    =============     =============

</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,
                                                               -------------------------------    ------------------------------
                                                                    2002              2001             2002              2001
                                                               -------------     -------------    -------------     ------------
                                                                                    (Dollars in thousands)
<S>                                                              <C>                <C>             <C>               <C>
Net income                                                          $  30              $ 60            $ 144             $ 187
Other comprehensive income
        Unrealized (losses) gains on investment and
           mortgage-backed securities available-for-sale              116               (53)             (89)              489

Income tax benefit (expense) related to items of other
comprehensive income                                                  (39)               18               30              (166)
                                                               -----------       -----------      -----------       -----------
Other comprehensive (loss) income, after tax                           77               (35)             (59)              323
                                                               -----------       -----------      -----------       -----------
Comprehensive income                                                $ 107              $ 25            $  85             $ 510
                                                               ===========       ===========      ===========       ===========

</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, 2002 and 2001
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                      2002             2001
                                                                  -----------      -----------
<S>                                                             <C>              <C>
Cash flows from operating activities:                              (Dollars in thousands)
  Net income                                                        $    144         $   187
  Adjustments to reconcile net income to net cash provided
       by operating activities:
    Provision for loan losses                                             15              ---
    Amortization of premiums and discounts on securities
       available-for-sale, net                                            74               (3)
    Amortization of intangibles                                           31               23
    Deferred income tax benefit, net                                     121               32
    Federal Home Loan Bank stock dividend                                (54)             (54)
    Depreciation                                                         116               57
    Loss on disposal of fixed assets                                      --               11
    Dividends reinvested                                                 (10)              (8)
    Deferred loan origination fees, net                                   36               12
    ESOP shares committed to be released                                  47               46
    MSBP compensation expense                                             10               44
Change in:
        Accrued interest receivable                                       42               60
        Income taxes                                                     (90)              14
        Other assets                                                      20              (19)
        Accrued expenses and other liabilities                          (319)             865
                                                                  -----------      -----------
           Net cash provided by operating activities                     183            1,239

Cash flows from investing activities:
  Purchases of securities available-for-sale                          (5,431)          (7,587)
  Proceeds from maturities, calls and prepayments of
       securities available-for-sale                                   8,058            9,613
  Origination of loans receivable                                    (23,649)         (13,143)
  Repayment of principal on loans receivable                          14,098            8,000
  Acquisition of branch office                                            --              773
  Purchase of premises and equipment                                  (1,552)            (749)
                                                                  -----------      -----------
    Net cash used in investing activities                             (8,476)          (3,093)

Cash flows from financing activities:
  Net increase in deposits                                             5,868            4,916
  Advances from Federal Home Loan Bank                                 1,750            4,350
  Repayment of advances from Federal Home Loan Bank                   (1,950)          (7,650)
  Net decrease in advances from borrowers for
       taxes and insurance                                               (15)             (16)
  Exercise of stock options                                               47               59
  Dividends paid to stockholders                                        (270)            (264)
                                                                  -----------      -----------
    Net cash provided by financing activities                          5,430            1,395
                                                                  -----------      -----------
Net decrease in cash and cash equivalents                             (2,863)            (459)
Cash and cash equivalents at beginning of period                       5,897            2,796
                                                                  -----------      -----------
Cash and cash equivalents at end of period                          $  3,034         $  2,337
                                                                  ===========      ===========

Cash paid during period for:
   Interest                                                         $  1,709         $  1,922
   Income taxes                                                           35               63
Noncash Investing and Financing Activities:

    During 2001, the Company  acquired a branch in Gillette  Wyoming with $95 of
    loans, $387 of property and equipment and $1,353 of deposits.
</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, 2002


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, 2001.

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, 2002 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:  IMPACT OF RECENTLY ISSUED ACCOUNT STANDARDS

In July 2001, the Financial Accounting Standards Board ("FASB") issued Statement
of Financial  Accounting  Standards ("SFAS") No. 141, Business  Combinations and
SFAS No. 142, Goodwill and Other Intangible Assets.  SFAS 141, which was adopted
by the Company on July 1, 2001,  requires that the purchase method of accounting
be used for all business  combinations  initiated  after June 30, 2001. SFAS 141
also specifies criteria intangible assets acquired in a purchase method business
combination  must meet to be recognized and reported  apart from goodwill.  SFAS
142 requires that goodwill and intangible assets with indefinite useful lives no
longer be amortized,  but instead  tested for  impairment  at least  annually in
accordance  with the  provisions of SFAS 142.  However,  goodwill  recognized in
connection with certain branch  acquisitions  will continue to be subject to the
provisions of SFAS No. 72,  Accounting  for Certain  Acquisitions  of Banking or
Thrift Institutions. SFAS 142, which was adopted by the Company October 1, 2001,
also requires  that  intangible  assets with definite  useful lives be amortized
over their respective estimated useful lives to their estimated residual values,
and reviewed for impairment in accordance with SFAS No. 144,  Accounting for the
Impairment or Disposal of Long-Lived Assets.

SFAS 141  required,  upon  adoption of SFAS 142,  that the Company  evaluate its
existing  intangible  assets and goodwill that were acquired in a prior purchase
business  combination,  and to make any necessary  reclassifications in order to
conform with the new criteria in SFAS 141 for  recognition  apart from goodwill.
Additionally,  upon  adoption of SFAS 142,  the Company was required to reassess
the useful  lives and  residual  values of all  intangible  assets  acquired  in
purchase  business  combinations,  and make any  necessary  amortization  period
adjustments  by the end of the first  interim  period after  adoption  which was
December 31, 2001. Upon adoption, the Company did not have any reclassifications
to its recorded  intangible  assets or any changes in its estimated useful lives
or residual values.

In connection with the transitional  goodwill  impairment  evaluation,  SFAS 142
required the Company to perform an  assessment of whether there is an indication
that  goodwill  is  impaired  as of the  date  of  adoption.  As of the  date of
adoption,  the Company had unamortized  goodwill in the amount of $178,000 which
will  continue to be amortized in  accordance  with the  provisions  of SFAS 72.
There was no indication that goodwill was impaired at the date of adoption.  The
Company tests  goodwill  annually in the

                                     Page 5

<PAGE>
             CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
              Notes to Consolidated Condensed Financial Statements
                                  June 30, 2002

fourth quarter in connection  with its annual  budgeting  process.  Amortization
expense  related to goodwill was $3,000 for the three months ended June 30, 2002
and 2001. Amortization expense related to goodwill was $9,000 and $6,000 for the
nine months ended June 30, 2002 and 2001, respectively.

Following is a summary of acquired intangible assets at June 30, 2002.
<TABLE>
<CAPTION>

                  Original Amortization              Gross                Accumulated
                     Period in Years             Carrying Amount          Amortization          Net
                  -----------------------      ------------------       -----------------    ---------

<S>                      <C>                <C>                         <C>               <C>
Goodwill                     7                  $    188,000                19,000            169,000
Core Deposit Premium        15                       122,000                46,000             76,000
                                               --------------           -----------        -----------
                                                $    310,000                65,000            245,000
                                               ==============           ===========        ===========
</TABLE>
Following is a summary of acquired intangible assets at September 30, 2001.
<TABLE>
<CAPTION>

                  Original Amortization              Gross                Accumulated
                     Period in Years             Carrying Amount          Amortization          Net
                  -----------------------      ------------------       -----------------    ---------
<S>                      <C>                <C>                         <C>               <C>
Goodwill                     7                  $    188,000                10,000            178,000
Core Deposit Premium        15                       122,000                25,000             97,000
                                               --------------           -----------        -----------
                                                $    310,000                35,000            275,000
                                              ==============           ===========        ===========
</TABLE>
Amortization  expense  related to Goodwill and Core Deposit  Premium was $10,000
and $11,000  for the three  months  ended June 30, 2002 and 2001,  respectively.
Amortization  expense  related to Goodwill and Core Deposit  Premium was $31,000
and $23,000 for the nine months ended June 30, 2002 and 2001, respectively,  and
estimated annual amortization expense is as follows:


                  Year Ended
                 September 30,
---------------------------------------

2002                         $   41,000
2003                             36,000
2004                             31,000
2005                             26,000
2006                             21,000

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.

<TABLE>
<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             $   30,000               797,587          $ 0.04
                                                                                                    ======
 Effect of Dilutive Securities
   Incremental shares under stock option plan                     --                12,037
   Incremental shares related to MSBP                             --                   701
                                                          ---------------------------------
 Diluted EPS
   Income available to common stockholders plus
     assumed conversions                                  $   30,000               810,325          $ 0.04
                                                          ==========            ===========         ======

</TABLE>


                                     Page 6
<PAGE>

             CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
              Notes to Consolidated Condensed Financial Statements
                                  June 30, 2002
<TABLE>
<CAPTION>

                                                                 For the Three Months ended June 30, 2001
                                                          Net Income        Average Shares        Per Share Amount
                                                       -----------------------------------------------------------
<S>                                                    <C>                     <C>              <C>
 Basic EPS
  Net income available to common stockholders              $  60,000               780,999          $ 0.08
                                                                                                    ======
 Effect of Dilutive Securities
   Incremental shares under stock option plan                     --                13,561
   Incremental shares related to MSBP                             --                   585
                                                           -------------------------------
 Diluted EPS
   Income available to common stockholders plus
     assumed conversions                                   $  60,000               795,145          $ 0.08
                                                           =========            ==========          ======
</TABLE>

<TABLE>
<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              $ 144,000               794,112          $ 0.18
                                                           =========            ==========          ======
 Effect of Dilutive Securities
   Incremental shares under stock option plan                     --                10,281
   Incremental shares related to MSBP                             --                   404
                                                           -------------------------------
 Diluted EPS
   Income available to common stockholders plus
     assumed conversions                                   $ 144,000               804,797          $ 0.18
                                                           =========            ==========          ======
</TABLE>


<TABLE>
<CAPTION>
                                                                  For the Nine Months ended June 30, 2001
                                                          Net Income        Average Shares        Per Share Amount
                                                        -----------------------------------------------------------
<S>                                                    <C>                     <C>              <C>
 Basic EPS
  Net income available to common stockholders              $ 187,000               777,664          $ 0.24
                                                                                                    ======
 Effect of Dilutive Securities
   Incremental shares under stock option plan                     --                 8,840
   Incremental shares related to MSBP                             --                   382
                                                           -------------------------------
 Diluted EPS
   Income available to common stockholders plus
     assumed conversions                                   $ 187,000               786,757          $ 0.24
                                                           =========            ==========          ======

</TABLE>

                                     Page 7
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
          Management Discussion and Analysis of Financial Condition and
                              Results of Operations
                                  June 30, 2002


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 operates as
a traditional savings association,  attracting deposit accounts from the general
public and using  those  deposits,  together  with  other  funds,  primarily  to
originate and invest in fixed-rate  conventional  loans secured by single-family
residential real estate.  The Bank also utilizes funds obtained from the Federal
Home Loan Bank of Seattle  ("FHLB") to  purchase  investment  securities  and to
originate loans. The Bank also originates commercial real estate loans, business
loans, home equity loans,  consumer loans and loans secured by savings accounts.
The Bank invests in mortgage-backed  securities  (including Real Estate Mortgage
Investment Conduits ("REMICs")),  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

                                     Page 8

<PAGE>

              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
          Management Discussion and Analysis of Financial Condition and
                             Results of Operations (Continued)
                                  June 30, 2002


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.

PURCHASE OF BRANCH

On December 27, 2000,  the Bank  purchased  the building,  equipment,  loans and
acquired  the deposit  liabilities  of the  Gillette,  Wyoming  branch of Hulett
National Bank for a purchase price of $675,000.  The  transaction  was accounted
for as a purchase and  accordingly,  the  Consolidated  Condensed  Statements of
Income for the three and nine months  ended June 30, 2002 and 2001,  include the
results of  operations of the acquired  branch since the date of purchase.  Cash
received in the branch acquisition  totaled $773,000.  The purchase consisted of
$95,000 of loans,  $387,000 of premises and equipment,  the assumption of $1.353
million in deposits and $212,000 of accrued interest and other liabilities.  The
premium  paid over  historical  carrying  values  was  $310,000,  which has been
allocated  to goodwill  and deposit  premium.  The branch is called "The Bank of
Gillette, a branch of Buffalo Federal Savings Bank".

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 is 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.

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

ASSETS

At June 30, 2002,  assets totaled  $74.117  million  compared to total assets of
$68.773  million at September  30, 2001.  The increase was primarily a result of
increases in net loans  receivable  and net premises and  equipment,  which more
than  offset  the  decrease  in cash and cash  equivalents  and  investment  and
mortgage-backed securities available-for-sale.

Cash and cash  equivalents  decreased  $2.863  million  during the  period.  The
decrease was primarily the result of the increase in loans  receivable and costs
associated  with  branching  activities  offset by a decrease in investment  and
mortgage-backed securities and a corresponding increase in deposits.

Securities available-for-sale decreased by $2.780 million during the nine months
ended June 30, 2002.  Securities  prepayments,  calls and  maturities  of $8.058
million were  received on  investment  securities

                                     Page 9
<PAGE>

              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
          Management Discussion and Analysis of Financial Condition and
                             Results of Operations (Continued)
                                  June 30, 2002


available-for-sale.  The Bank purchased $5.431 million of investment  securities
available-for-sale,  and the market value of the  securities  decreased  $89,000
during the period. Amortization of premium discounts and dividends accounted for
$74,000 of the decrease in securities.

Loans receivable  increased $9.500 million during the nine months ended June 30,
2002.  During this period,  the Bank originated  loans totaling $23.649 million,
comprised of residential mortgage loans totaling $9.229 million, non-residential
mortgage loans totaling $8.611 million,  consumer loans totaling $3.304 million,
and commercial loans totaling $2.505 million.  During the same period,  the Bank
received scheduled  principal payments and prepayments  totaling $14.098 million
on its loan portfolio.

Bank property and equipment  increased by $1.436  million  during the period and
was primarily the result of the  completion of the branch in Sheridan,  Wyoming.
The total cost of constructing  and furnishing the branch was $1.992 million and
the branch opened on April 8, 2002.

LIABILITIES

Deposits  increased by $5.868 million from $40.709 million at September 30, 2001
to  $46.577  million  at June 30,  2002.  The  increases  were  attributable  to
increases in money market,  checking,  savings and certificate  accounts and the
expanded branch operations.

Advances from the FHLB of Seattle  decreased by $200,000 from $13.400 million at
September 30, 2001 to $13.200 million at June 30, 2002, primarily as a result of
the maturity of advances and the deployment of excess cash.

Deferred income taxes increased by $91,000 during the nine months ended June 30,
2002 and were mainly the result of the  deferred  income tax expense  associated
with book to tax depreciation differences, FHLB stock dividends and amortization
of intangibles, offset by the decrease in the market value of available-for-sale
securities.

Accrued  expenses and other  liabilities  decreased by $319,000  during the nine
months ended June 30, 2002 and were mainly the result of the decrease in accrued
interest payable,  outstanding  corporate checks and accounts payable related to
the construction project in Sheridan Wyoming.

STOCKHOLDERS' EQUITY

Overall,  stockholders'  equity  decreased  $81,000 during the nine months ended
June 30, 2002. The decrease was primarily the result of dividends  being paid in
excess of current earnings, and the decreased market value on available-for-sale
securities which more than offset the exercise of stock options.

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

Non-performing  assets  totaled  $206,000  at June 30,  2002,  or 0.42% of gross
loans.  This compares to $119,000 at September 30, 2001 or 0.31% of gross loans.
Non-performing  loans at June 30,  2002 were  comprised  of three  single-family
mortgage loans, and one commercial loan.


                                    Page 10
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
          Management Discussion and Analysis of Financial Condition and
                             Results of Operations (Continued)
                                  June 30, 2002

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

Comparison of Three Months Ended June 30, 2002 and 2001.
--------------------------------------------------------

Net  Income.  Net income for the three  months  ended June 30,  2002 was $30,000
lower than net income  reported  for the same  period in 2001.  The  decrease is
attributable  to a  $11,000  decrease  in  non-interest  income  and a  $144,000
increase in  non-interest  expense.  Specifically,  the increase in non-interest
expense is attributable to a $55,000  increase in compensation  and benefits,  a
$40,000 increase in occupancy and equipment,  an $8,000 increase in advertising,
a $6,000  increase in data  processing  costs, a $3,000 increase in professional
fees, and a $32,000 increase in other expenses related to branching  activities.
Net interest  income  increased  $125,000 for the three month period ending June
30, 2002 as compared to the same period in 2001 and was  primarily  attributable
to an increase  in the volume of  interest-earning  assets and  interest-bearing
liabilities offset by a corresponding  decrease in the yield on interest-earning
assets and the cost of interest-bearing liabilities.

Interest Income. Total interest income decreased by $31,000 for the three months
ended June 30, 2002,  interest income totaled $1.079 million  compared to $1.110
million for the three months  ended June 30, 2001.  An increase in the volume of
average  interest-earning assets from $64.154 million for the three months ended
June 30, 2001 to $67.402  million for the same period in 2002  contributed  to a
$115,000 increase in interest income. A decrease was experienced in the yield on
average  interest-earning  assets from 6.92% for the three months ended June 30,
2001 to 6.40% for the three months ended June 30, 2002,  which  contributed to a
$146,000 decrease in interest income.

Interest Expense. Total interest expense decreased by $156,000 from $689,000 for
the three  months  ended June 30, 2001 to $533,000  for the same period in 2002.
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 $101,000  from  $430,000 for the three months ended June 30, 2001 to $329,000
for the same  period  in 2002.  The cost of  average  interest-bearing  deposits
decreased  from 4.82% for the three  months ended June 30, 2001 to 3.05% for the
three months ended June 30, 2002,  which caused interest expense for deposits to
decrease by  $191,000.  An  increase  in the volume of average  interest-bearing
deposits  from $35.688  million for the three  months  ended June 30,  2001,  to
$43.144 million for the three months ended June 30, 2002,  resulted in a $90,000
increase in interest expense for deposits.

Interest expense for advances from the FHLB and other interest expense decreased
by $55,000  from  $259,000  for the three months ended June 30, 2001 to $204,000
for the same period in 2002. The cost of average interest-bearing  advances from
the FHLB  decreased from 6.34% for the three months ended June 30, 2001 to 6.09%
for the same  period in 2002 which  resulted  in a $10,000  decrease in interest
expense.  Average  interest-bearing  advances decreased from $16.332 million for
the three month  period  ended June 30,  2001,  to $13.402  million for the same
period  2002,  and  resulted  in a $45,000  decrease  in  interest  expense  for
advances.

                                       Page 11
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
          Management Discussion and Analysis of Financial Condition and
                             Results of Operations (Continued)
                                  June 30, 2002

Net Interest Income. Net interest income increased by $125,000 from $421,000 for
the three months ended June 30, 2001 to $546,000 for the three months ended June
30, 2002. The increase in net interest  income was primarily due to the decrease
in the cost of average  interest-bearing  liabilities which more than offset the
increase in the volume of average interest-bearing  liabilities. The increase in
average  interest-bearing  liabilities  was not fully offset by a  corresponding
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 123.33% in 2001 to 119.20% in 2002. The mitigating  factor was the decrease
in the rate paid for interest-bearing  liabilities and a smaller decrease in the
rate earned for average  interest-earning assets as evidenced by the increase in
the interest rate spread.

Net  interest  margin  increased  from 2.62% for the three months ended June 30,
2001 to 3.24% for the three  months  ended June 30,  2002.  The  increase in net
interest  margin was primarily  caused by the  disproportionate  decrease in the
cost of interest-bearing liabilities compared to interest-earning assets.

Provision for Loan Losses.  A $15,000 and $0 provision  was recorded  during the
three  months  ended  June 30,  2002  and  2001.  There  were  $20,000  in loan
charge-offs  for the three months ended June 30, 2002 while  recoveries  totaled
$7,000.  In the three months ended June 30, 2001, there were no loan charge-offs
while recoveries totaled $13,000.

Total Non-interest  Income.  Total non-interest income decreased by $11,000 from
$34,000 for the three months ended June 30, 2001 to $23,000 for the three months
ended June 30, 2002 primarily due to $11,000 of net expenses  associated  with a
joint  venture that was started in June 2002.  The joint venture is called North
Wyoming  Insurance  Company,  LLC and is owned  50% by North  Wyoming  Insurance
Corporation  and 50% by Crazy  Woman  Creek  Bancorp,  Incorporated.  The  joint
venture was established to offer insurance products to our customers and is only
available in the Sheridan branch. The joint venture will be accounted for on the
equity method and the  financial  impact of the joint venture is not expected to
be material to the operations of the company for the foreseeable future.

Total Non-interest  Expense.  Total  non-interest  expense increased by $144,000
from $370,000 for the three months ended June 30, 2001 to $514,000 for the three
months  ended June 30,  2002.  The  increase  was  attributable  to increases in
compensation,  occupancy and  equipment,  advertising,  data  processing  costs,
professional  fees, and other  non-interest  expenses  primarily  related to the
expansion of operations with the branch opening in Sheridan, Wyoming.

Provision  for Income  Taxes.  The effective tax rate for the three months ended
June 30, 2002 and 2001 was 25.00% and 29.41%,  respectively.  The  effective tax
rate was lower  during 2002 than 2001 due to a decrease in taxable  income and a
corresponding  increase in permanent tax differences  arising from the dividends
received deduction and tax exempt interest income.

Comparison of Nine Months Ended June 30, 2002 and 2001.
-------------------------------------------------------

Net  Income.  Net income for the nine  months  ended June 30,  2002 was $ 43,000
lower than net income  reported  for the same  period in 2001  primarily  due to
expanding the branch operations.  Specifically, the reduction is attributable to
a $158,000  increase in compensation and benefits which resulted  primarily from
the hiring of a new president,  two branch  presidents and ten additional  staff
members and the costs associated with a severance  payment to a former employee,
a  $77,000   increase  in  occupancy  and  equipment,   a  $17,000  increase  in
advertising,  a $16,000 increase in data processing


                                       Page 12
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
          Management Discussion and Analysis of Financial Condition and
                             Results of Operations (Continued)
                                  June 30, 2002


costs, a $28,000 increase in professional fees, and an $86,000 increase in other
expenses.  These increases were partially  offset by a $314,000  increase in net
interest  income,  a $11,000  decrease  in loss on  disposal  of  assets,  and a
reduction of $31,000 in income tax expense.  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, 2002.

Interest  Income.  Net interest income  decreased by $42,000 for the nine months
ended June 30, 2002,  interest income totaled $3.239 million  compared to $3.281
million for the nine months  ended June 30,  2001.  An increase in the volume of
average  interest-earning  assets from $63.101 million for the nine months ended
June 30, 2001 to $67.259  million  for the same  period in 2002 caused  interest
income to increase  by  $332,000.  A decrease  was  experienced  in the yield on
average  interest-earning  assets from 6.93% for the nine months  ended June 30,
2001 to 6.42% for the nine months ended June 30, 2002,  which  contributed  to a
$374,000 decrease in interest income.

Interest  Expense.  Total  interest  expense  decreased by $356,000  from $2.057
million for the nine months  ended June 30, 2001 to $1.701  million for the same
period in 2002. This was primarily a result of a decrease in the cost of average
interest-bearing liabilities, due to lower market interest rates.

Interest expense for deposits including deposit premium  amortization  decreased
by  $154,000  from $1.230  million  for the nine  months  ended June 30, 2001 to
$1.076 million for the same period in 2002. The cost of average interest-bearing
deposits  decreased  from 4.93% for the nine months ended June 30, 2001 to 4.07%
for the nine months  ended June 30,  2002,  which  caused  interest  expense for
deposits  to  decrease  by  $488,000.  An  increase  in the  volume  of  average
interest-bearing  deposits  from $33.264  million for the nine months ended June
30, 2001 to $42.301 million for the nine months ended June 30, 2002, resulted in
a $334,000 increase in interest expense for deposits.

Interest expense for advances from the FHLB and other interest expense decreased
by $202,000  from  $827,000  for the nine months ended June 30, 2001 to $625,000
for the same period in 2002. The cost of average interest-bearing  advances from
the FHLB  decreased  from 6.39% for the nine months ended June 30, 2001 to 6.22%
for  the  same   period  in  2002.   This   decrease  in  the  cost  of  average
interest-bearing advances caused a $17,000 decrease in interest expense. Average
interest-bearing  advances  decreased  from  $17.265  million for the nine month
period  ended June 30, 2001 to $13.401  million for the nine month  period ended
June 30,  2002,  resulting  in a  $185,000  decrease  in  interest  expense  for
advances.

Net Interest  Income.  Net  interest  income  increased by $314,000  from $1.224
million for the nine months  ended June 30, 2001 to $1.538  million for the nine
months ended June 30, 2002.  The increase in net interest  income was  primarily
caused by the decrease in the cost and volume of  interest-bearing  liabilities.
The increase in average  interest-bearing  liabilities was not fully offset by a
corresponding  increase in average  interest-earning  assets as evidenced by the
decrease   in  the  ratio  of   average   interest-earning   assets  to  average
interest-bearing  liabilities  from  124.88%  in 2001 to  120.75%  in 2002.  The
decrease  in  the  cost  offset  by  the  increase  in  the  volume  of  average
interest-bearing  liabilities  were the major  factors  for the  increase in net
interest income.

Net interest margin increased from 2.59% for the nine months ended June 30, 2001
to 3.05% for the nine months ended June 30,  2002.  The increase in net interest
margin  was  primarily  caused  by the  disproportionate  decrease  in  cost  of
interest-bearing liabilities compared to interest-earning assets.


                                       Page 13
<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
          Management Discussion and Analysis of Financial Condition and
                             Results of Operations (Continued)
                                  June 30, 2002

Provision for Loan Losses.  A $15,000 and $0 provision  was recorded  during the
nine  months  ended  June  30,  2002  and  2001.  There  were  $21,000  in loan
charge-offs  for the nine months  ended June 30, 2002 while  recoveries  totaled
$13,000.  In the nine  months  ended June 30,  2001,  there were  $7,000 in loan
charge-offs while recoveries totaled $45,000.

Total Non-interest  Income.  Total non-interest  income increased by $1,000 from
$85,000 for the nine  months  ended June 30, 2001 to $86,000 for the nine months
ended June 30, 2002 primarily due to $11,000 of net expenses  associated  with a
joint  venture that was started in June 2002.  The joint venture is called North
Wyoming  Insurance  Company,  LLC and is owned  50% by North  Wyoming  Insurance
Corporation  and 50% by Crazy  Woman  Creek  Bancorp,  Incorporated.  The  joint
venture was established to offer insurance products to our customers and is only
available in the Sheridan branch. The joint venture will be accounted for on the
equity method and the  financial  impact of the joint venture is not expected to
be material to the operations of the company for the foreseeable future.

Total Non-interest  Expense.  Total  non-interest  expense increased by $374,000
from $1.045  million for the nine months  ended June 30, 2001 to $1.419  million
for the nine  months  ended  June 30,  2002 due to  increases  in  compensation,
occupancy and equipment,  advertising, data processing costs, professional fees,
amortization of goodwill and other non-interest expenses.

Provision  for Income  Taxes.  The  effective tax rate for the nine months ended
June 30, 2002 and 2001 was 24.21% and 29.16%,  respectively.  The  effective tax
rate was lower than the  expected  tax rate of 34% due to a decrease  in taxable
income and a corresponding  increase in permanent tax  differences  arising from
the dividends received deduction and tax exempt interest income.

CAPITAL COMPLIANCE AND LIQUIDITY

Capital Compliance.  The following table presents the Bank's compliance with its
regulatory capital requirements:

                                                        At June 30, 2002
                                                --------------------------------
                                                                    Percentage
                                                   Amount            of Assets
                                                -------------    ---------------
                                                     (Dollars in thousands)

GAAP Capital...................................     $ 10,990          15.03%

Tangible capital...............................     $ 10,521          14.39%
Tangible capital requirement...................        1,097           1.50%
Excess.........................................     $  9,424          12.89%

Core capital...................................     $ 10,624          14.53%
Core capital requirements......................        2,194           3.00%
Excess.........................................     $  8,430          11.53%

Total risk-based capital (1)...................     $ 10,812          24.29%
Total risk-based capital requirement (1).......        3,560           8.00%
Excess (1).....................................     $  7,252          16.29%


1)  Based on risk-weighted assets of $44,504
2)  Based on the Bank's adjusted total assets of $73,121

                                    Page 14

<PAGE>

              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
          Management Discussion and Analysis of Financial Condition and
                             Results of Operations (Continued)
                                  June 30, 2002

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, 2002 such
borrowed funds totaled $13.200 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, 2003 is  approximately  $22.601
million and $1.500 million,  respectively.  To the extent that these deposits do
not remain at the Bank upon  maturity,  the Bank  believes  that it can  replace
these  funds  with  deposits,   excess  liquidity,   FHLB  advances  or  outside
borrowings. 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 continue to increase.

At June 30, 2002, the Bank had loan  commitments  outstanding of $7.405 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.

                                    Page 15


<PAGE>
              CRAZY WOMAN CREEK BANCORP INCORPORATED AND SUBSIDIARY
          Management Discussion and Analysis of Financial Condition and
                             Results of Operations (Continued)
                                  June 30, 2002

KEY OPERATING RATIOS
--------------------
<TABLE>
<CAPTION>
                                            Three Months Ended                     Nine Months Ended
                                                 June 30,                               June 30,
                                    -----------------------------------    -------------------------------
                                       2002 (1)           2001 (1)            2002 (1)           2001 (1)
                                    ----------------------------------------------------------------------
                                                  (Dollars in thousands, except per share data)
                                                                   (Unaudited)

<S>                               <C>                 <C>                <C>                 <C>
Return on average assets              0.17%               0.36%              0.27%               0.38%
Return on average equity              0.89%               1.78%              1.41%               1.86%
Interest rate spread                  2.63%               1.62%              2.35%               1.50%
Net interest margin                   3.24%               2.62%              3.05%               2.59%
Non-interest expense to average
   Assets                             2.86%               2.23%              2.66%               2.14%
Net charge-offs to average
   outstanding loans                  0.03%              (0.04%)             0.01%              (0.10%)
</TABLE>



                                       At June 30,        At September
                                          2002              30, 2001
                                    -----------------------------------
Nonaccrual and 90 days past due
   Loans                                $  206                $119
Repossessed real estate,
   held under judgement                     --                  --
                                        ------              ------
  Total nonperforming assets            $  206              $  119
                                        ======              ======

Nonperforming loans to gross loans        0.42%               0.31%
Nonperforming assets to total assets      0.28%               0.17%
Book value per share (2)                $16.94              $17.16

________________

(1)  The ratios for the three and nine - month periods are annualized.
(2)  The number of shares outstanding as of June 30, 2002 and September 30, 2001
     was 795,524 and 790,124,  respectively.  These include shares  purchased by
     the ESOP.

                                    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, 2002. 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 99.1 -- CERTIFICATION PURSUANT TO 18 U.S.C.ss.1350

         (b)      Reports on Form 8-K

                  A report  on Form 8-K was  filed on May 2,  2002  pursuant  to
                  items  5  and  7  announcing   the   registrant's   management
                  succession  plan  to  fill  the  position  vacated  by  former
                  President  and Chief  Executive  Officer  Deane D.  Bjerke who
                  retired on May 1, 2002.


                                     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 14, 2002          By: /s/ Gary J. Havens
                               ----------------------
                                   Gary J Havens
                                   President and Chief Executive Officer
                                  (Principal Executive Officer)



Date: August 14, 2002          By: /s/ John B. Snyder
                                   ------------------
                                   John B. Snyder
                                   Vice President and Chief Financial Officer
                                  (Principal Accounting and Financial Officer)