<PAGE>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(Mark One)

[X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
     OF 1934

For the quarterly period ended September 30, 2001

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

For the transition period from __________ to __________

                        Commission file number: 000-31673
                                                ---------

                                OHIO LEGACY CORP
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

              Ohio                                      34-1903890
-------------------------------             ------------------------------------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)

                  305 West Liberty Street, Wooster, Ohio 44691
                  --------------------------------------------
                    (Address of principal executive offices)

                                 (330) 263-1955
                           ---------------------------
                           (Issuer's telephone number)

As of November 8, 2001, the latest practicable date, 965,500 shares of the
issuers common shares, no par value, were issued and outstanding.

Transitional Small Business Disclosure Format (check one):

Yes [ ]     No [X]





                                                                              1.
<PAGE>


                                OHIO LEGACY CORP
                                   FORM 10-QSB
                        QUARTER ENDED SEPTEMBER 30, 2001


PART 1 - FINANCIAL INFORMATION

<Table>
<Caption>
ITEM 1 - Financial Statements                                                   Page
<S>                                                                             <C>

Consolidated Balance Sheets...................................................   3

Consolidated Statement of Operations..........................................   4

Consolidated Statements of Comprehensive Income (Loss)........................   5

Condensed Consolidated Statements of Changes in
         Shareholder's Equity.................................................   6

Condensed Consolidated Statements of Cash Flows...............................   7

Notes to the Consolidated Financial Statements................................   8

ITEM 2 - Management's Discussion and Analysis of Financial Condition
         and Results of Operations............................................  14


PART II - OTHER INFORMATION...................................................  19


SIGNATURES....................................................................  21
</Table>




                                                                              2.
<PAGE>

                                OHIO LEGACY CORP
                          CONSOLIDATED BALANCE SHEETS
                                  (Unaudited)


ITEM 1.  Financial Statements

<Table>
<Caption>
                                                                             September 30,       December 31,
                                                                                  2001                 2000
                                                                             -------------       -------------
<S>                                                                          <C>                 <C>
ASSETS
Cash and due from banks                                                      $   1,746,097       $   1,149,087
Federal funds sold                                                               6,950,000           6,238,000
                                                                             -------------       -------------
     Cash and cash equivalents                                                   8,696,097           7,387,087
Securities available for sale                                                    9,678,450           1,045,415
Loans, net                                                                      37,151,538           4,428,479
Federal Reserve Bank stock                                                         221,300             273,000
Premises and equipment, net                                                      1,499,102             564,313
Accrued interest receivable and other assets                                       465,422             240,273
                                                                             -------------       -------------

     Total assets                                                            $  57,711,909       $  13,938,567
                                                                             =============       =============

LIABILITIES AND SHAREHOLDER'S EQUITY
Deposits
     Non-interest bearing                                                    $   1,864,683       $   1,039,365
     Interest bearing demand                                                     9,015,438           1,563,139
     Savings                                                                     2,825,722              88,534
     Certificates of deposit                                                    35,793,095           2,878,973
                                                                             -------------       -------------
         Total deposits                                                         49,498,938           5,570,011
Capital lease obligation                                                           541,738                  --
Accrued interest payable and other liabilities                                     403,822             368,829
                                                                             -------------       -------------
     Total liabilities                                                          50,444,498           5,938,840

SHAREHOLDERS' EQUITY
Preferred stock, no par value, 500,000 shares authorized,
  no shares issued and outstanding                                                      --                  --
Common stock, no par value, 2,500,000 shares authorized,
  965,500 shares issued and outstanding at September 30, 2001
  and 965,000 shares issued and outstanding at December 31, 2000                 8,988,710           8,983,710
Accumulated deficit                                                             (1,897,910)           (992,831)
Accumulated other comprehensive income                                             176,611               8,848
                                                                             -------------       -------------
     Total shareholders' equity                                                  7,267,411           7,999,727
                                                                             -------------       -------------

         Total liabilities and shareholders' equity                          $  57,711,909       $  13,938,567
                                                                             =============       =============
</Table>


               See notes to the consolidated financial statements.



                                                                              3.
<PAGE>
                                OHIO LEGACY CORP
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

<Table>
<Caption>
                                                              Three Months Ended             Nine Months Ended
                                                                 September 30,                 September 30,
                                                        ----------------------------   ----------------------------
                                                            2001            2000           2001            2000
                                                        -------------   ------------   ------------    ------------
<S>                                                     <C>             <C>            <C>             <C>
Interest income
     Loans                                              $     632,256   $         --   $  1,196,769    $         --
     Investment securities                                    102,297             --        140,335              --
     Interest-bearing deposit
       and federal funds sold                                  82,575             --        328,336              --
                                                        -------------   ------------   ------------    ------------
         Total interest income                                817,128             --      1,665,440              --

Interest expense
     Deposits                                                 504,319             --        964,510              --
     Other borrowings                                          21,885         15,091         29,185          25,748
                                                        -------------   ------------   ------------    ------------
         Total interest expense                               526,204         15,091        993,695          25,748
                                                        -------------   ------------   ------------    ------------

Net interest income                                           290,924        (15,091)       671,745         (25,748)

Provision for loan losses                                     105,000             --        215,098              --
                                                        -------------   ------------   ------------    ------------

Net interest income after
  provision for loan losses                                   185,924        (15,091)       456,647         (25,748)

Noninterest income
     Service charges and other fees                            31,654             --         54,258              --
     Other income                                                 880             --          5,685              --
                                                        -------------   ------------   ------------    ------------
         Total other income                                    32,534             --         59,943              --

Noninterest expense
     Salaries and benefits                                    216,886        167,302        656,114         472,818
     Occupancy and equipment                                   92,680          9,280        233,294          33,530
     Professional fees                                         44,448         39,976         97,717         127,788
     State franchise taxes                                     28,086             --         83,563              --
     Data processing                                           38,357             --        110,860              --
     Stationery and supplies                                   18,760             --         50,085              --
     Marketing and advertising                                 18,066             --         64,204              --
     Other expenses                                            38,225          8,812        125,832          28,167
                                                        -------------   ------------   ------------    ------------
         Total noninterest expense                            495,508        225,370      1,421,669         662,303
                                                        -------------   ------------   ------------    ------------

Net loss                                                $    (277,050)  $   (240,461)  $   (905,079)   $   (688,051)
                                                        =============   ============   ============    ============

Basic earnings (loss) per share                         $       (0.29)   $    (17.81)  $      (0.94)   $     (50.97)
                                                        =============    ===========   ============    ============
Diluted earnings (loss) per share                       $       (0.29)   $    (17.81)  $      (0.94)   $     (50.97)
                                                        =============    ===========   ============    ============
</Table>



               See notes to the consolidated financial statements.


                                                                              4.
<PAGE>
                                OHIO LEGACY CORP
             CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
                                   (Unaudited)



<Table>
<Caption>
                                                              Three Months Ended             Nine Months Ended
                                                                 September 30,                 September 30,
                                                        ----------------------------   ----------------------------
                                                             2001           2000            2001           2000
                                                        -------------   ------------   ------------    ------------
<S>                                                     <C>             <C>            <C>             <C>
Net Loss                                                $    (277,050)  $   (240,461)  $   (905,079)   $   (688,051)

Other comprehensive income (loss)
     Unrealized holding gains and losses on
       available for sale securities arising during
       the period                                             165,091             --        167,763              --
     Reclassification adjustment for amounts
       realized on securities sales included in
       net income                                                  --             --             --              --
                                                        -------------   ------------   ------------    ------------

Comprehensive income (loss)                             $    (111,959)  $   (240,461)  $   (737,316)   $   (688,051)
                                                        =============   ============   ============    ============
</Table>


               See notes to the consolidated financial statements.


                                                                              5.
<PAGE>
                                OHIO LEGACY CORP
                  CONDENSED CONSOLIDATED STATEMENTS OF CHANGES
                             IN SHAREHOLDERS' EQUITY
                                   (Unaudited)



<Table>
<Caption>
                                                             Three Months Ended             Nine Months Ended
                                                                September 30,                 September 30,
                                                        ----------------------------   ----------------------------
                                                             2001           2000            2001           2000
                                                        -------------   ------------   ------------    ------------
<S>                                                     <C>             <C>            <C>             <C>
Balance at beginning of period                          $   7,374,370   $   (431,234)  $  7,999,727    $     16,356

Proceeds from exercise of stock warrants
  (500 shares)                                                  5,000             --          5,000              --

Net loss                                                     (277,050)      (240,461)      (905,079)       (688,051)

Change in unrealized gain on
  securities available for sale                               165,091             --        167,763              --
                                                        -------------   ------------   ------------    ------------

Balance at end of period                                $   7,267,411   $   (671,695)  $  7,267,411    $   (671,695)
                                                        =============   ============   ============    ============
</Table>


               See notes to the consolidated financial statements.



                                                                              6.
<PAGE>


                                OHIO LEGACY CORP
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)


<Table>
<Caption>
                                                                                        Nine Months Ended
                                                                                          September 30,
                                                                                 ----------------------------------
                                                                                      2001               2000
                                                                                 ---------------    ---------------
<S>                                                                              <C>                <C>
Net cash flows from operating activities
     Net loss                                                                    $      (905,079)   $      (688,051)
     Adjustments to reconcile net loss to net cash from
     operating activities
         Depreciation                                                                     81,888                 --
         Securities amortization and accretion                                           (13,348)                --
         Provision for loan loss                                                         215,098                 --
         Net change in:
             Accrued interest receivable and other assets                               (225,149)          (174,758)
             Accrued expenses and other liabilities                                       34,993            314,185
             Deferred loan fees                                                           77,037                 --
                                                                                 ---------------    ---------------
         Net cash from operating activities                                             (734,560)          (548,624)

Cash flows from investing activities
     Securities available for sale:
         Purchases                                                                    (9,501,924)                --
         Maturities/Calls                                                              1,050,000                 --
     Sale of Federal Reserve Bank stock                                                   51,700                 --
     Net change in loans                                                             (33,015,194)                --
     Purchases of premises and equipment                                                (466,677)          (186,087)
                                                                                 ---------------    ---------------
         Net cash from investing activities                                          (41,882,095)          (186,087)


Cash flows from financing activities
     Net change in deposits                                                           43,928,927                 --
     Repayment of capital lease obligation                                                (8,262)                --
     Proceeds from exercise of stock warrants                                              5,000                 --
     Proceeds from notes payable to stockholders                                              --            665,000
                                                                                 ---------------    ---------------
         Net cash from financing activities                                           43,925,665            665,000
                                                                                 ---------------    ---------------


Increase in cash and cash equivalents                                                  1,309,010            (69,711)
Cash and cash equivalents at beginning of period                                       7,387,087            116,757
                                                                                 ---------------    ---------------

Cash and cash equivalents at end of period                                       $     8,696,097    $        47,046
                                                                                 ===============    ===============

Supplemental disclosures of cash flow information
     Cash paid during the year for
         Interest                                                                $       648,653    $            --
         Taxes                                                                                --                 --

     Noncash transaction
         Obligation under capital lease                                                  550,000                 --
</Table>


               See notes to the consolidated financial statements.


                                                                              7.
<PAGE>

                                OHIO LEGACY CORP
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying consolidated financial statements include the accounts of the
Ohio Legacy Corp ("OLC") and its wholly owned subsidiary, Ohio Legacy Bank (the
"Bank"), together referred to as "the Corporation". All significant intercompany
accounts and transactions have been eliminated in consolidation.

These interim consolidated financial statements are prepared without audit and
reflect all adjustments which, in the opinion of management, are necessary to
present fairly the financial position of the Corporation at September 30, 2001,
and its results of operations and cash flows for the periods presented. All such
adjustments are normal and recurring in nature. The accompanying consolidated
financial statements have been prepared in accordance with the instructions of
Form 10-QSB and, therefore, do not purport to contain all necessary financial
disclosures required by accounting principles generally accepted in the United
States of America that might otherwise be necessary in the circumstances, and
should be read in conjunction with the financial statements, and notes thereto,
of the Corporation for the year ended December 31, 2000, included in its 2000
annual report. Reference is made to the accounting policies of the Corporation
described in the notes to financial statements contained in the Corporation's
2000 annual report. The Corporation has consistently followed these policies in
preparing this Form 10-QSB.

The Corporation provides financial services through its full service offices in
Wooster and Canton, Ohio and its loan origination office in Millersburg, Ohio.
Its primary deposit products are checking, savings, and term certificate
accounts, and its primary lending products are residential mortgage, commercial,
and installment loans. Substantially all loans are secured by specific items of
collateral including business assets, consumer assets and real estate.
Commercial loans are expected to be repaid from cash flow from operations of
businesses. Real estate loans are secured by both residential and commercial
real estate. Other financial instruments which potentially represent
concentrations of credit risk include deposit accounts in other financial
institutions and federal funds sold. The Bank commenced operations on October 3,
2000.

To prepare financial statements in conformity with accounting principles
generally accepted in the United States of America, management makes estimates
and assumptions based on available information. These estimates and assumptions
affect the amounts reported in the financial statements and the disclosures
provided, and future results could differ. The allowance for loan losses, fair
value of financial instruments and status of contingencies are particularly
subject to change.

Income tax expense is the total of the current year income tax due or refundable
and the change in deferred tax assets and liabilities. Deferred tax assets and
liabilities are the expected future tax amounts for the temporary differences
between carrying amounts and tax bases of assets and liabilities, computed using
enacted tax rates. A valuation allowance has been recorded to offset the net
deferred tax assets as the Corporation has not yet paid any income taxes which
would be refundable if these timing differences reversed and there is no
assurance of future taxable income.

Earnings (loss) per share computations are based on the weighted average number
of shares of common stock outstanding during the year. The weighted average
number of shares outstanding for both basic and diluted earnings (loss) per
share was 965,109 for the three months ended September 30, 2001 and 965,037 for
the nine months ended September 30, 2001 and 13,500 for the three and nine
months ended September 30, 2000. Stock warrants for 339,800 shares of common
stock were not considered in computing diluted earnings (loss) per share for the
three and nine months ended September 30, 2001 because they were not dilutive.
No warrants were outstanding during the three or nine months ended September 30,
2000.


                                  (Continued)

                                                                              8.
<PAGE>
                                OHIO LEGACY CORP
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Statement of Financial Standards ("SFAS") No. 133, "Accounting for Derivative
Instruments and Hedging Activities" requires companies to record derivatives on
the balance sheet as assets or liabilities, measured at fair value. Gains or
losses resulting from changes in the values of those derivatives would be
accounted for depending on the use of the derivative and whether it qualifies
for hedge accounting. The key criterion for hedge accounting is that the hedging
relationship must be highly effective in achieving offsetting changes in fair
value or cash flows. SFAS No. 133 does not allow hedging of a security which is
classified as held to maturity. Upon adoption of SFAS No. 133, companies may
reclassify any security from held to maturity to available for sale if they wish
to be able to hedge the security in the future. SFAS No. 133, as delayed by SFAS
No. 137 and amended by SFAS No. 138, is effective for fiscal years beginning
after June 15, 2000, with early adoption encouraged for any fiscal quarter
beginning July 1, 1998 or later, with no retroactive application. The adoption
of SFAS No. 133 on January 1, 2001 had no significant impact on the
Corporation's financial statements.

In September 2000, the Financial Accounting Standards Board issued SFAS No. 140,
"Accounting for Transfers and Servicing of Financial Assets and Extinguishments
of Liabilities." SFAS No. 140 replaces SFAS No. 125 and resolves various
implementation issues while carrying forward most of the provisions of SFAS No.
125 without change. SFAS No. 140 revises standards for transfers of financial
assets by clarifying criteria and expanding guidance for determining whether the
transferor has relinquished control and the transfer is therefore accounted for
as a sale. SFAS No. 140 also adopts new accounting requirements for pledged
collateral and requires new disclosures about securitizations and pledged
collateral. SFAS No. 140 is effective for transfers occurring after March 31,
2001 and for disclosures relating to securitization transactions and collateral
for fiscal years ending after December 15, 2000. The adoption of this standard
has not had a material effect on the Corporation's financial statements.

In June 2001, the Financial Accounting Standards Board (FASB) issued Statement
of Financial Accounting Standards (SFAS) No. 141 "Business Combinations." SFAS
No. 141 requires all business combinations within its scope to be accounted for
using the purchase method, rather than the pooling-of-interests method. The
provisions of this Statement apply to all business combinations initiated after
June 30, 2001. The adoption of this statement will only have an impact on the
Corporation's financial statements if it enters into a business combination.

Also in June 2001, the FASB issued SFAS No. 142, "Goodwill and Other Intangible
Assets", which addresses the accounting for such assets arising from prior and
future business combinations. Upon the adoption of this Statement, goodwill
arising from business combinations will no longer be amortized, but rather will
be assessed regularly for impairment, with any such impairment recognized as a
reduction to earnings in the period identified. Other identified intangible
assets, such as core deposit intangible assets, will continue to be amortized
over their estimated useful lives. The Corporation is required to adopt this
Statement on January 1, 2002 and early adoption is not permitted. The adoption
of this Statement will not have an impact on the Corporation's financial
statements, as it has no intangible assets.



                                   (Continued)


                                                                              9.
<PAGE>

                                OHIO LEGACY CORP
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

NOTE 2 - ORGANIZATION

OLC was incorporated under the laws of the State of Ohio in July 1999. During
1999 and a significant portion of 2000, OLC's activities were limited to the
organization of the Bank, as well as preparation for and completion of a common
stock offering (the "Offering"). In October 2000, OLC sold 951,500 shares of
common stock at a price of $10 per share resulting in proceeds of $8,848,710,
net of offering costs of $666,290. A substantial portion of the proceeds of the
Offering were used by OLC to provide the initial capitalization of the Bank
which occurred in October 2000. OLC was a development stage company until
October 3, 2000, at which time the Bank began operations.


NOTE 3 - SECURITIES

Securities available for sale at September 30, 2001 and December 31, 2000 were
as follows.

<Table>
<Caption>
                                                                         Gross            Gross
                                                       Amortized      Unrealized       Unrealized         Fair
                                                         Cost            Gains           Losses           Value
                                                    -------------    -------------   -------------   --------------
<S>                                                 <C>              <C>             <C>             <C>
September 30, 2001
    U.S. Government and federal agency              $   9,501,839    $     176,611   $          --   $    9,678,450
                                                    =============    =============   =============   ==============

December 31, 2000
    U.S. Government and federal agency              $   1,036,567    $       8,848   $          --   $    1,045,415
                                                    =============    =============   =============   ==============
</Table>

Contractual maturities of debt securities at September 30, 2001 were as follows.

<Table>
<Caption>
                                                                       Amortized          Fair
                                                                         Cost             Value
                                                                     -------------   -------------
<S>                                                                  <C>             <C>
    Due after one to five years                                      $   9,001,839   $   9,164,050
    Due after five to ten years                                            500,000         514,400
                                                                     -------------   -------------

       Total                                                         $   9,501,839   $   9,678,450
                                                                     =============   =============
</Table>

No securities were sold during the three or nine months ended September 30, 2001
or 2000.



                                   (Continued)


                                                                             10.
<PAGE>

                                OHIO LEGACY CORP
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 4 - LOANS

Loans at September 30, 2001 and December 31, 2000 were as follows.

<Table>
<Caption>
                                                                                 September 30,       December 31,
                                                                                     2001                2000
                                                                                ---------------    ----------------
<S>                                                                             <C>                <C>
     Commercial                                                                 $     5,962,237    $      1,442,794
     Mortgage loans on real estate:
         1-4 and multifamily residential                                             15,952,731           1,209,266
         Nonresidential commercial                                                   11,355,273             887,330
         Construction                                                                   615,931             550,000
         Consumer                                                                     3,633,279             375,037
                                                                                ---------------    ----------------
                                                                                     37,519,451           4,464,427
     Less:    Allowance for loan losses                                                (251,223)            (36,125)
              Net deferred loan fees                                                    (79,612)             (2,575)
              Loans in process                                                          (37,078)              2,752
                                                                                ---------------    ----------------

     Loans, net                                                                 $    37,151,538    $      4,428,479
                                                                                ===============    ================
</Table>

Activity in the allowance for loan losses was as follows.

<Table>
<Caption>
                                                             Three Months Ended             Nine Months Ended
                                                                September 30,                 September 30,
                                                        ----------------------------   ----------------------------
                                                             2001           2000           2001            2000
                                                        -------------   ------------   ------------    ------------
<S>                                                     <C>             <C>            <C>             <C>
     Beginning balance                                  $     146,223   $         --   $     36,125    $         --
     Provision for loan losses                                105,000             --        215,098              --
     Loans charged-off                                             --             --             --              --
     Recoveries                                                    --             --             --              --
                                                        -------------   ------------   ------------    ------------

     Ending balance                                     $     251,223   $         --   $    251,223    $         --
                                                        =============   ============   ============    ============
</Table>

At September 30, 2001 and December 31, 2000 and for the three and nine months
ended September 30, 2001 and 2000, the Corporation had no loans which were
impaired, on nonaccrual status or past due more than 90 days and still accruing
interest.


                                   (Continued)


                                                                             11.
<PAGE>
                                OHIO LEGACY CORP
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 5 - STOCK-BASED COMPENSATION

The Corporation's Board of Directors has adopted an Omnibus Stock Option, Stock
Ownership and Long-Term Incentive Plan. A total of 100,000 common shares are
available for grants under the plan. The number of shares may be adjusted by the
Board in the event of an increase or decrease in the number of common shares
outstanding resulting from dividend payments, stock splits, recapitalization,
merger, share exchange acquisition, combination or reclassification.

The following types of awards may be granted under the plan to eligible persons:
nonqualified stock options, incentive stock options and restricted stock. Under
the plan, each nonemployee Director will be initially granted 2,500 nonqualified
options at the time or soon after that person first becomes a Director. The
initial option grant will vest annually in equal amounts over a three-year term.
In addition, each nonemployee Director will receive an annual grant of 1,000
nonqualified options during his tenure on the Board, which will vest
immediately. The exercise price of an option shall not be less than the fair
market value of the underlying common stock on the date of the grant. In the
event of a change in control of the Corporation, outstanding options may become
immediately exercisable in full at the discretion of the compensation committee.
Otherwise, all outstanding options will terminate unless the successor
corporation agrees to assume or replace such options with an equivalent
entitlement. No options had been granted as of September 30, 2001.

The Corporation granted 147,300 warrants to the Board of Directors and
organizers of the Corporation at the time of closing of the stock offering. The
warrants vest in approximately equal percentages each year over a three-year
period from the date of grant. Each warrant entitles the holder to purchase a
share of common stock at the price of $10.00 per share and will expire ten years
from the date of issuance. No warrants were exercisable at September 30, 2001.


NOTE 6 - STOCK WARRANTS

As part of the Offering, the Corporation issued to shareholders one stock
warrant for every five shares of stock purchased resulting in the issuance of
193,000 warrants. The warrants carry no voting rights and may be exercised at
any time within the seven years following their issuance. Each warrant entitles
the holder to purchase one common share at a purchase price of $10.00 at any
time during the life of the warrant. The warrants may be called by the
Corporation at any time after the first year of issuance at $0.10 per warrant.
If called, each holder of a warrant must exercise the warrant within 30 days or
the warrant will expire with no payment being made to the warrant holder. The
warrants are only transferable with the underlying common shares in increments
of one warrant for every five shares transferred. 500 warrants were exercised
during the three months ended September 30, 2001. No warrants had been exercised
prior to this date.



                                   (Continued)


                                                                             12.
<PAGE>
                                OHIO LEGACY CORP
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 7 - COMMITMENTS AND CONTINGENCIES

Some financial instruments, such as loan commitments, credit lines, letters of
credit, and overdraft protection, are issued to meet customer financing needs.
These are agreements to provide credit or to support the credit of others, as
long as conditions established in the contract are met, and usually have
expiration dates. Commitments may expire without being used. Off-balance-sheet
risk to credit loss exists up to the face amount of these instruments, although
material losses are not anticipated. The same credit policies are used to make
such commitments as are used for loans, including obtaining collateral at
exercise of the commitment.

The contractual amount of financial instruments with off-balance-sheet risk was
as follows at September 30, 2001 and December 31, 2000. To comply with the
Bank's legal lending limit, portions of the loans committed below may be sold to
other financial institutions.

<Table>
<Caption>
                                           September 30,      December 31,
                                               2001             2000
                                          --------------     -------------
<S>                                       <C>                <C>
     Commitments to make loans
         Variable rate                    $    7,119,000     $   3,892,000
         Fixed rate                            4,955,000         2,709,000
     Unused lines of credit                    5,621,000         1,293,000
</Table>

Commitments to make loans are generally made for periods of 30 days or less. The
fixed rate loan commitments have interest rates ranging from 6.88% to 8.50% at
September 30, 2001 and 7.50% to 10.75% at December 31, 2000.



                                   (Continued)


                                                                             13.
<PAGE>


                                OHIO LEGACY CORP
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS


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

INTRODUCTION

In the following pages, management presents an analysis of the consolidated
financial condition of the Corporation at September 30, 2001 compared to
December 31, 2000, and the consolidated results of operations for the three and
nine months ended September 30, 2001 compared to the three and nine months ended
September 30, 2000. This discussion is designed to provide shareholders with a
more comprehensive review of the operating results and financial position than
could be obtained from an examination of the financial statements alone. This
analysis should be read in conjunction with the financial statements and related
footnotes included elsewhere in this report.

OLC was incorporated under the laws of the State of Ohio in July 1999. During
1999 and the first nine months of 2000, OLC's activities were limited to the
organization of the Bank and preparation for and completion of the offering. The
Company sold 951,500 shares of common stock at a price of $10.00 per share in
the offering resulting in proceeds of $8,848,710, net of offering costs of
$666,290. Most of the proceeds of the Offering were used by OLC to provide the
initial capitalization of the Bank, which occurred on October 3, 2000. At this
time, the Bank began operations. Management believes that the Corporation's
financial condition and results of operations are as expected for a newly formed
financial institution.

The Bank's operating principle focuses on superior customer service through
knowledgeable employees and efficient operating systems and technology.
Customers will each have one employee assigned to them to serve all of their
needs, while at the same time having access to any senior manager when
necessary. Policies and procedures are tailored to the local markets rather than
larger regional or state areas. The directorship and management plan to focus on
the small businesses within the area, residential real estate mortgages and a
growing consumer market. They will rely on themselves, shareholders and
employees for business development.

The Bank offers competitive products in its markets and believes it will have
the cash requirements for funding loans. The Bank will work with customers to
design products and services that will meet their individual needs.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this discussion that are not historical facts
are forward-looking statements that are subject to certain risks and
uncertainties. When used herein, the terms "anticipates," "plans," "expects,"
"believes," and similar expressions as they relate to the Corporation or its
management are intended to identify such forward looking statements. The
Corporation's actual results, performance or achievements may materially differ
from those expressed or implied in the forward-looking statements. Risks and
uncertainties that could cause or contribute to such material differences
include, but are not limited to, general economic conditions, interest rate
environment, competitive conditions in the financial services industry, changes
in law, governmental policies and regulations, and rapidly changing technology
affecting financial services.



                                   (Continued)


                                                                             14.
<PAGE>
                                OHIO LEGACY CORP
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS


FINANCIAL CONDITION

At September 30, 2001, total assets were $57,711,909, compared to assets of
$13,938,567 at December 31, 2000. The difference of $43,773,342 represents a
314.0% growth in assets over December 2000 levels. This increase was funded by
growth in deposits, which amounted to $43,928,927 during the nine months ended
September 30, 2001. At September 30, 2001, total loans receivable were
$37,519,451, compared to loans receivable of $4,464,427 at December 31, 2000.
The mix of total loans receivable at September 30, 2001, was $5,962,237, or
15.9%, in commercial loans, $27,923,935, or 74.4%, in mortgage loans on real
estate, and $3,633,279, or 9.7%, in consumer loans to individuals compared to
$1,442,794, or 32.3%, in commercial loans, $2,646,596, or 59.3%, in mortgage
loans on real estate, and $375,037, or 8.4%, in consumer loans to individuals at
December 31, 2000. Cash and cash equivalents amounted to $8,696,097 at September
30, 2001, compared to $7,387,087 at December 31, 2000. Management is maintaining
high levels of cash and cash equivalents to fund loan commitments currently
pending.

Premises and equipment, net, increased $934,789 from $564,313 at December 31,
2000 to $1,499,102 at September 30, 2001. The increase was due to the Wooster
office moving into its permanent facility located at 305 West Liberty Street in
May 2001. The lease on the permanent facility has been recorded as a capital
lease.

Total deposits at September 30, 2001, amounted to $49,498,938, compared to
deposits of $5,570,011 at December 31, 2000. The difference of $43,928,927
represents a 788.7% growth in deposits over December 2000 levels. These funds
were invested primarily in securities and loans receivable, as well as cash and
cash equivalents and fixed and other assets. The increase reflects the growth
during the initial months of Bank operations. Management anticipates the Bank
will experience further growth in all deposit accounts during 2001 as the
Corporation continues to attract new customers.


COMPARISON OF RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED
   SEPTEMBER 30, 2001 AND SEPTEMBER 30, 2000

The net loss for the three months ended September 30, 2001 increased to
$277,050, from $240,461 for the same period in 2000. The increased loss was
primarily a result of expenses associated with operating the Bank in 2001,
whereas the third quarter of 2000 was devoted to development stage activities.
The Corporation began development stage activities in July 1999, and the net
loss for the three months ended September 30, 2000, represents ongoing
activities of the development stage operations, primarily salaries for the
Corporation's employees, occupancy costs related to the pre-opening leased space
and other expenses incurred in the development stage. The Corporation was a
development stage company until October 3, 2000, at which time the Bank began
operations.

In order to provide a more meaningful analysis of the results of operations for
the three months ended September 30, 2001, the following discussion provides a
comparison between the results of operations for the three months ended
September 30, 2001 and the most recent prior three month period which ended June
30, 2001, during which time the Bank was operating.

Consolidated net loss for the Corporation for the three months ended September
30, 2001 was $277,050, compared to a net loss of $309,572 for the three months
ended June 30, 2001. Basic and diluted loss per common share for the three
months ended September 30, 2001 was $.29 per common share compared to $0.32 for
the three months ended June 30, 2001. No dividends were paid during the three
months ended September 30, 2001 or for the three months ended June 30, 2001.


                                   (Continued)


                                                                             15.
<PAGE>
                                OHIO LEGACY CORP
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS


Net interest income for the three months ended September 30, 2001 was $290,924,
compared with $196,084 for the three months ended June 30, 2001. This increase
was due primarily to growth in the Bank's net loans and federal funds sold, both
funded by deposit growth. The average yield on interest-earning assets for the
three months ended September 30, 2001 was 6.76%, which included an average rate
of 3.54% on federal funds sold and other short-term investments, 5.37% on
securities and 8.02% on loans receivable. The average rate paid on
interest-bearing liabilities was 5.03%. The Bank has been very competitive in
its deposit rate offerings which has contributed to the high deposit growth. The
net interest margin was 2.41% for the three months ended September 30, 2001
compared to 2.54% for the three months ended June 30, 2001. The decrease in the
net interest margin resulted from continued decreases in interest rates during
the third quarter of 2001, as well as the fact that a higher percentage of
interest-earning assets were funded by equity in second quarter of 2001 compared
to the third quarter. Management anticipates that the net interest margin during
the remainder of 2001 will improve as the Bank invests a higher percentage of
its earning assets in higher yielding loans and securities and less in lower
yielding federal funds.

The provision for loan losses charged to operations was based on management's
evaluation of portfolio risk and economic factors. The provision for loan losses
was $105,000 for the three months ended September 30, 2001 as compared to
$65,550 for the three months ended June 30, 2001. The allowance for loan losses
totaled $251,223 at September 30, 2001 and $36,125 at December 31, 2000. No
loans were charged-off during the nine months ended September 30, 2001 or during
2000. At September 30, 2001 and December 31, 2000, none of the allowance for
loan losses was allocated to impaired loan balances, as there were no loans
considered impaired. At September 30, 2001 and December 31, 2000, the allowance
was 0.67% and 0.81% of total loans, respectively.

Management allocated approximately 22.79% of the allowance to commercial loans,
71.72% to mortgage loans on real estate, and 5.49% to consumer loans to
individuals at September 30, 2001, leaving no unallocated amount. There were no
nonperforming loans at September 30, 2001 or December 31, 2000. Management
believes the allowance for loan losses at September 30, 2001 is adequate to
absorb probable losses in the loan portfolio.

Total noninterest income was $32,534 for the three months ended September 30,
2001 as compared to $19,446 for the three months ending June 30, 2001.
Noninterest income resulted primarily from service charges on deposit accounts.

Total noninterest expense remained stable for the three months ended September
30, 2001 as compared to the three months ending June 30, 2001. Salaries and
employee benefits increased $376 to $216,886 in the third quarter of 2001, from
$216,510 in the second quarter of 2001. Occupancy and equipment costs increased
to $92,680 in the third quarter of 2001, which represents an $16,848 increase
over the second quarter of 2001. This increase was due to the Wooster office
moving into its permanent facility located at 305 West Liberty Street in late
May 2001. All the remaining noninterest expense categories increased a combined
total of $18,732 due to both the costs associated with the moving of the Wooster
office taking full effect during the 3rd quarter of the year and due to the
additional costs associated with improved customer service facilities in other
market areas.


                                   (Continued)

                                                                             16.
<PAGE>
                                OHIO LEGACY CORP
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS


The income tax benefit from the net operating losses for the nine months ended
September 30, 2001, and the years ended 2000 and 1999 has not been reflected in
the consolidated financial statements. A valuation allowance has been recorded
to offset deferred tax assets. At such time when management believes that it is
more likely than not that the income tax benefit will be used by the
Corporation, the valuation allowance will be reduced and a tax benefit will be
realized. The income tax benefit from the losses in 2001, 2000 and 1999 can be
carried forward for twenty years from the time of the loss before they expire.
Accordingly, the Corporation's net operating loss carry forward for 2001 will
expire in 2021 if it were to remain unused at that time.


COMPARISON OF RESULTS OF OPERATIONS FOR THE NINE MONTHS ENDED
   SEPTEMBER 30, 2001 AND SEPTEMBER 30, 2000

The net loss for the nine months ended September 30, 2001 increased to $905,079,
from $688,051 for the same period in 2000. The increased loss was primarily a
result of expenses associated with operating the Bank in 2001, whereas the nine
months of 2000 was devoted to development stage activities. The Corporation
began development stage activities in July 1999, and the net loss for the nine
months ended September 30, 2000, represents ongoing activities of the
development stage operations, primarily salaries for the Corporation's
employees, occupancy costs related to the pre-opening leased space and other
expenses incurred in the development stage. The Corporation was a development
stage company until October 3, 2000, at which time the Bank began operations.


LIQUIDITY

Liquidity is the ability of the Corporation to fund customers' needs for
borrowing and deposit withdrawals. The purpose of liquidity management is to
assure sufficient cash flow to meet all of the financial commitments and to
capitalize on opportunities for business expansion. This ability depends on the
institution's financial strength, asset quality and types of deposit and
investment instruments offered by the Corporation to its customers. The
Corporation's principal sources of funds are deposits, loan and security
repayments, maturities of securities, sales of securities available for sale and
other funds provided by operations. While scheduled loan repayments and maturing
investments are relatively predictable, deposit flows and early loan and
security prepayments are more influenced by interest rates, general economic
conditions, and competition. The Corporation maintains investments in liquid
assets based upon management's assessment of (1) need for funds, (2) expected
deposit flows, (3) yields available on short-term liquid assets and (4)
objectives of the asset/liability management program.

Cash and cash equivalents increased $1,309,010, or 17.7%, to $8,696,097 at
September 30, 2001 compared to $7,387,087 at December 31, 2000. Cash and
equivalents represented 15.1% of total assets at September 30, 2001 and 53.0% of
total assets at December 31, 2000. The Bank has various federal fund sources
from correspondent banks, should the Corporation need to supplement its future
liquidity needs in order to meet loan demand or to fund investment
opportunities. As the Bank grows and deposits are used to fund loans, management
anticipates liquidity will further decrease. Management believes its current
liquidity level is sufficient to meet anticipated future growth, and management
monitors its liquidity position on a regular basis.



                                   (Continued)


                                                                             17.
<PAGE>

                                OHIO LEGACY CORP
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS


CAPITAL RESOURCES

Total shareholders' equity was $7,267,411 at September 30, 2001, a decrease of
$732,316 from $7,999,727 at December 31, 2000. The decrease was a result of a
net loss of $905,079 in the first nine months of 2001, partially offset by other
comprehensive income of $167,763 and the exercise of stock warrants by
shareholders of $5,000.

Total risk-based capital is made up of Tier 1 Capital and Tier 2 Capital. Tier 1
capital is total shareholders' equity less any intangible assets. Tier 2 capital
is Tier 1 capital plus the allowance for loan losses (includible up to a maximum
of 1.25% of risk-weighted assets).

The Bank meets all regulatory capital requirements. The ratio of total capital
to risk-weighted assets was 18.61% at September 30, 2001, while the Tier 1
risk-based capital ratio was 17.98%. Regulatory minimums call for a total
risk-based capital ratio of 8.0%, at least half of which must be Tier 1 capital.
The Bank's leverage ratio, defined as Tier 1 capital divided by average assets,
of 13.83% at September 30, 2001 exceeded the regulatory minimum for capital
adequacy purposes of 4.0%. However, as a de novo or start-up institution, the
Bank is required, under the terms of its approval order from the Office of the
Comptroller of the Currency, to maintain a minimum ratio of its Tier 1 capital
to average total assets of at least 8% during its first three years of
operations.

The payment of dividends by the Bank to OLC is subject to restrictions by its
regulatory agencies. These restrictions generally limit dividends to current and
prior two years retained earnings, as defined. In addition, dividends may not
reduce capital levels below the minimum regulatory requirements as described
below. Furthermore, as part of the Bank's approval by the regulatory agencies,
it is prohibited from paying dividends to OLC for a period of three years after
inception without prior written non-objection by the Federal Reserve Bank.
Therefore, the Bank does not expect to pay dividends to OLC before October 2003.




                                                                             18.
<PAGE>


                                OHIO LEGACY CORP
                           PART II - OTHER INFORMATION


Item 1 -       Legal Proceedings:
               There are no matters required to be reported under this item.

Item 2 -       Changes in Securities and Use of Proceeds:
               There are no matters required to be reported under this item.

Item 3 -       Defaults Upon Senior Securities:
               There are no matters required to be reported under this item.

Item 4 -       Submission of Matters to a Vote of Security Holders: There are
               no matters required to be reported under this item.

Item 5 -       Other Information:
               There are no matters required to be reported under this item.



                                  (Continued)

                                                                             19.
<PAGE>
                                OHIO LEGACY CORP
                           PART II - OTHER INFORMATION



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

<Table>
<Caption>
               Exhibit
               Number                                Description of Document
               -------                               -----------------------
<S>                             <C>
                 3.1            Articles of Incorporation of Ohio Legacy Corp (incorporated by reference to
                                Registrant's Form SB-2, File No. 333-38328, effective June 1, 2000)

                 3.2            Code of Regulations of Ohio Legacy Corp (incorporated by reference to
                                Registrant's Form SB-2, File No. 333-38328, effective June 1, 2000)

                 4.1            See Pages 1 through 9 of Exhibit 3.1 for provisions defining the rights of the
                                holders of common shares

                 4.2            Form of Ohio Legacy Corp common share certificate (incorporated by reference to
                                Registrant's Form SB-2, File No. 333-38328, effective June 1, 2000)

                 4.3            Form of Organizer Stock Purchase Warrant (incorporated by reference to
                                Registrant's Form SB-2, File No. 333-38328, effective June 1, 2000)

                 4.4            Form of Public Stock Purchase Warrant (incorporated by reference to Registrant's
                                Form SB-2, File No. 333-38328, effective June 1, 2000)

                10.1            Omnibus Stock Option, Stock Ownership and Long Term Incentive Plan (incorporated
                                by reference to Registrant's Form SB-2, File No. 333-38328, effective June 1,
                                2000)

                10.2            Employment Agreement with Mr. Douce (incorporated by reference to Registrant's
                                Form SB-2, File No. 333-38328, effective June 1, 2000)

                10.3            Employment Agreement with Mr. Pettit (incorporated by reference to Registrant's
                                Form SB-2, File No. 333-38328, effective June 1, 2000)

                10.4            Lease Agreement dated August 24, 1999 by and between Jack K. and Heidi M. Gant
                                and Ohio Legacy Corp (incorporated by reference to Registrant's Form SB-2, File
                                No. 333-38328, effective June 1, 2000)

                10.5            Lease Agreement dated November 30, 1999 by and between Schoeppner Properties and
                                Ohio Legacy Corp (incorporated by reference to Registrant's Form SB-2, File
                                No. 333-38328, effective June 1, 2000)

                11              Statement Regarding Computation of Per Share Earnings (reference is hereby made
                                to Consolidated Statements of Operations on page 4 and Note 1 of Notes to the
                                Consolidated Financial Statements on page 8, hereof)
</Table>

                No reports on Form 8-K were filed during the last quarter of the
period covered by this report.



                                                                             20.
<PAGE>


                                OHIO LEGACY CORP
                                   SIGNATURES


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

                                       OHIO LEGACY CORP


Dated:  November 8, 2001               By:   /s/  L. Dwight Douce
-----------------------------          -----------------------------------------
                                       L. Dwight Douce, President, Chief
                                       Executive Officer and Director
                                       (acting as Principal Accounting Officer)





                                                                             21.
<PAGE>


                                OHIO LEGACY CORP
                                INDEX TO EXHIBITS




<Table>
<Caption>
            Exhibit                                                                                  Sequential
            Number                                  Description of Document                             Page
            ------                                  -----------------------                          ----------
<S>                        <C>                                                                        <C>
              3.1           Articles of Incorporation of Ohio Legacy Corp (incorporated by
                            reference to Registrant's Form SB-2, File No. 333-38328,
                            effective June 1, 2000)                                                      N/A

              3.2           Code of Regulations of Ohio Legacy Corp (incorporated by
                            reference to Registrant's Form SB-2, File No. 333-38328,
                            effective June 1, 2000)                                                      N/A

              4.1           See Pages 1 through 9 of Exhibit 3.1 for provisions defining the
                            rights of the holders of common shares                                       N/A

              4.2           Form of Ohio Legacy Corp common share certificate (incorporated
                            by reference to Registrant's Form SB-2, File No. 333-38328,
                            effective June 1, 2000)                                                      N/A

              4.3           Form of Organizer Stock Purchase Warrant (incorporated by
                            reference to Registrant's Form SB-2, File No. 333-38328,
                            effective June 1, 2000)                                                      N/A

              4.4           Form of Public Stock Purchase Warrant (incorporated by reference
                            to Registrant's Form SB-2, File No. 333-38328, effective June 1,
                            2000)                                                                        N/A

             10.1           Omnibus Stock Option, Stock Ownership and Long Term
                            Incentive Plan (incorporated by reference to
                            Registrant's Form SB-2, File No. 333-38328,
                            effective June 1, 2000)                                                      N/A

             10.2           Employment Agreement with Mr. Douce (incorporated by
                            reference to Registrant's Form SB-2, File No.
                            333-38328, effective June 1, 2000)                                           N/A

             10.3           Employment Agreement with Mr. Pettit (incorporated
                            by reference to Registrant's Form SB-2, File No.
                            333-38328, effective June 1, 2000)                                           N/A

             10.4           Lease Agreement dated August 24, 1999 by and between
                            Jack K. and Heidi M. Gant and Ohio Legacy Corp
                            (incorporated by reference to Registrant's Form
                            SB-2, File No. 333-38328, effective June 1, 2000)                            N/A

             10.5           Lease Agreement dated November 30, 1999 by and
                            between Schoeppner Properties and Ohio Legacy Corp
                            (incorporated by reference to Registrant's Form
                            SB-2, File No. 333-38328, effective June 1, 2000)                            N/A

             11             Statement Regarding Computation of Per Share Earnings (reference
                            is hereby made to Consolidated Statements of Operations on page
                            4 and Note 1 of Notes to the Consolidated Financial Statements
                            on page 8, hereof)                                                           N/A
</Table>

                                                                             22.