#### UNITED STATES

SECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549

FORM 10-QSB

(Mark One)

For the quarterly period ended September 30, 2002

For the transition period from ________________ to ______________

|Ohio
(State or other jurisdiction of | 31-1445959
(I.R.S. Employer
Identification No.)
|------------------------------------ | -----------------------------------------------

Check whether the issuer:
(1) filed all documents and reports required to be filed by Section 13 or 15(d)
of the Exchange Act during the past 12 months (or for such shorter period that
the registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.

As of November 5, 2002, the
Company had 366,847 Common Shares outstanding.

1

`LENOX BANCORP, INC.
                                   FORM 10-QSB

                    FOR THE QUARTER ENDED SEPTEMBER 30, 2002

                                      INDEX

                                                                            Page
                                                                            ----

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements-Unaudited
        Consolidated Balance Sheets .......................................... 3
        Consolidated Statements of Income  ................................... 4
        Consolidated Statements of Cash Flows   .............................. 5
        Notes to Unaudited Consolidated Financial Statements ................. 6

Item 2. Management's Discussion and Analysis of Financial Condition
            and Results of Operation.......................................... 6

Item 3. Controls and Procedures............................................... 8

PART II.OTHER INFORMATION

Item 1. Legal Proceedings .................................................... 8
Item 2. Changes in Securities ................................................ 8
Item 3. Defaults Upon Senior Securities....................................... 8
Item 4. Exhibits and Reports on Form 8-K...................................... 8`

#### FORWARD-LOOKING
STATEMENTS STATEMENT

Private Securities
Litigation Reform Act of 1995 provides a safe harbor from civil litigation for
forward-looking statements accompanied by meaningful cautionary statements.
Statements contained in this report and the information incorporated by
reference into this report that are not historical facts are forward-looking
statements based on our current expectations and beliefs concerning future
developments. There can be no assurance that future developments affecting us
will be the same as those that we anticipated. Actual results could differ
materially from those projected in the forward-looking statements.
Forward-looking statements, which are based on certain assumptions and describe
our future plans, strategies and expectations, are generally identified by use
of the words may, will, continue,
believe, expect, intend,
anticipate, estimate, project, or similar
expressions. Our ability to predict results or the actual effect of future plans
or strategies is inherently uncertain. Factors which could have a material
adverse effect on our operations include:

- changes in the performance of the financial markets;
- changes in the demand for and market acceptance of our products and services;
- changes in general economic  conditions  including  interest rates and the presence of competitors  with greater  financial
              resources;
- the continued availability of adequate funding sources;
- loan delinquency
rates and the possible inadequacy of allowances for loan losses; and
- changes in state and federal banking regulations and regulatory actions
affecting Lenox.

These risks and
uncertainties should be considered in evaluating forward-looking statements and
undue reliance should not be placed on statements. Further information
concerning us and our business, including additional factors that could
materially affect our financial results, is included in our filings with the
Securities and Exchange Commission.

2

`Lenox Bancorp, Inc.
Part I.  FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)

                               LENOX BANCORP, INC.
                           CONSOLIDATED BALANCE SHEETS
                             (DOLLARS IN THOUSANDS)
                                                             Sept. 30,  Dec. 31,
                                                                2002      2001
                                                            (UNAUDITED)
                                                             ---------  --------
Assets
Cash and due from banks                                      $ 4,252     $ 4,095
Investment securities - available for sale,
   at fair value (amortized cost of $ 3,025
   and $0 at September 30, 2002 and Dec. 31, 2001)             3,045           0
Mortgage-backed securities - available for
   sale, at fair value (amortized cost of
   $5,082 and $360 at September 30, 2002
   and Dec. 31, 2001)                                          5,146         366
Collateralized mortgage obligations -
   available for sale, at fair value
   (amortized cost of $2,322 and $3,963
   at September 30, 2002 and Dec. 31, 2001)                    2,334       3,970
                                                             -------     -------
Total Investment Securities                                   10,525       4,336
Loan receivable, (net of allowance for loan
  loss of $254 and $290 at September 30,
  2002 and Dec. 31, 2001)                                     40,874      50,659
Loans held for sale - at lower of cost or market                   0           0

Accrued interest receivable                                      303         346
Property and equipment, net                                    1,155       1,197
Federal Home Loan Bank stock - at cost                         1,953       1,886
Other Real Estate Owned                                            0          39
Prepaid expenses and other assets                                357         400
Prepaid federal income taxes                                       0          39
                                                             -------     -------
Total Assets                                                 $59,419     $62,997
                                                             =======     =======

Liabilities and Stockholders' Equity
Liabilities:
  Deposits:
    Savings, club and other accounts                         $ 6,034     $ 6,890
    Money market and NOW accounts                              4,453       4,532
    Certificate accounts                                      20,133      21,877
                                                             -------     -------
      Total deposits                                          30,620      33,299
Advances from Federal Home Loan Bank                          22,762      23,179
Advance payments by borrowers for
  taxes and insurance                                            108         364
Accrued expenses                                                 323         581
                                                             -------     -------
      Total liabilities                                      $53,813     $57,423


Commitments and other liabilities

Equity for ESOP Shares                                       $   183     $   124

Stockholders' equity:
   Preferred Stock - no par value:
     500,000 authorized, none issued                            --          --
   Common Stock - no par value:
     4,500,000 authorized, 507,496
     issued and 366,847 outstanding
     at September 30, 2002 and at
     December 31, 2001                                          --          --
   Additional paid in capital                                $ 4,498     $ 4,558
   Retained earnings - substantially restricted                3,723       3,785
   Unearned ESOP shares                                         -109        -136
   Share acquired for Stock Incentive Plan                      -185        -198
   Treasury stock 140,649 shares at September 30,
     2001 and 140,649 shares at December 31, 2000             -2,567      -2,567
   Accumulated other comprehensive income:
   Unrealized (loss) on available for sale
     securities net of taxes                                      63           8
                                                             -------     -------
       total stockholders' equity                            $ 5,423     $ 5,450
                                                             -------     -------

Total liabilities and stockholders' equity                   $59,419     $62,997
                                                             =======     =======

                 See notes to consolidated financial statements


                                       3




                               LENOX BANCORP, INC.
                        CONSOLIDATED STATEMENTS OF INCOME
                                   (UNAUDITED)
                  (Dollars in Thousands Except Per Share Data)

                                                   Three              Nine
                                                months ending     months ending
                                                -------------     -------------
                                                September 30,     September 30,
                                                2002     2001     2002     2001
                                               ------  ------    ------   ------

Interest Income and Dividend Income
 Loans                                         $  760   $1,051   $2,576   $3,234
 Mortgage-backed securities                        71        7      143       22
 Collateralized mortgage obligations               23       70       87      206
 Investments and interest bearing                  43       28       79      152
 FHLB stock dividends                              24       32       67       96
                                               ------   ------   ------   ------
      Total                                       921    1,189    2,952    3,710

Interest Expense
  Deposits                                        227      396      741    1,259
  Borrowed money                                  329      364      985    1,186
                                               ------   ------   ------   ------
       Total                                      556      760    1,726    2,445

  Net interest income before
     provision for loan losses                    365      429    1,226    1,265

Provision for loan losses                          24        9       94      238
                                               ------   ------   ------   ------

  Net interest income after
    provision for loan losses                     341      420    1,132    1,027

Other Income
  Service fee income                               55       54      189      147
  Gain on sale of loans and securities             96      -20      207       76
  Other Income                                      0       84        0      250
                                               ------   ------   ------   ------
       Total                                      151      118      396      473

General and Administrative Expenses
  Compensation and employee benefits              257      284      705    1,020
  Occupancy and equipment                          64       67      187      196
  Federal insurance premium                         4        4       12       15
  Franchise taxes                                  16        2       43       25
  Other expenses                                  255      161      673      581
                                               ------   ------   ------   ------
       Total                                      596      518    1,620    1,837

  Income (Loss) before provision
    for income taxes                             -104       20      -92     -337

Provision (Credit) for income taxes               -34       12      -30      -98
                                               ------   ------   ------   ------

  Net Income (Loss)                            -$  70   $    8   -$  62   -$ 239
                                               ======   ======   ======   ======

  Basic Income (Loss) per share                -$0.20   $ 0.02   -$0.18   -$0.84
                                               ======   ======   ======   ======
  Diluted Income (Loss) per share              -$0.20   $ 0.02   -$0.18   -$0.84
                                               ======   ======   ======   ======

                 See notes to consolidated financial statements

                                       4





                               LENOX BANCORP, INC.
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                                   (UNAUDITED)
                             (DOLLARS IN THOUSANDS)


                                                                 For the Nine
                                                                 Months Ended
                                                                 September 30
                                                               -----------------
                                                                 2002      2001
                                                               -------   -------
Cash flows from operating activities:
   Net income (loss)                                              -$62     -$239
Adjustments to reconcile net income
to net cash provided (used)
by operating activities
   Depreciation and amortization                                    63        55
   Provision (credit) for losses on loans                           94       238
   Amortization of deferred loan fees                               49        43
   Proceeds from sale of loans in secondary market               8,137
   Deferred loan origination fees (cost)                            -4       -27
   FHLB stock dividends                                            -67       -96
   Gain on sale of investments and loans                            --       -76
   Amortization of stock incentive plan award                       39        15
   Effect of change in operating assets and liabilities
     Accrued interest receivable                                    43       102
     Prepaid expenses                                               48      -223
     Prepaid federal income tax                                     39         9
     Advances by borrowers for taxes and insurance                -253       -33
     Accrued expenses                                             -289       428
                                                                ------    ------
        Net cash provided (used)
        by operating activities                                   -300     8,333

Cash flow from Investing activities
   Property and equipment additions                                 -5        -5
   Repayments of mortgage backed securities                      3,985        96
   Purchase of Investments & certificates of deposit            -3,033        -2
   Purchase of mortgage back securities                         -7,074    -3,972
   Net change in loans                                           9,646    -2,234
   Proceeds from sale of investments                                --     4,037
   Proceeds from sale of real estate
     acquired through foreclosure                                   34
   Purchase of FHLB stock                                           --        --
   Maturity of investments - AFS                                    --     1,100
                                                                ------    ------
         Net cash provided (used)
         by investing activities                                 3,553      -980

Cash Flows from financing activities
   Net increase (decrease) in deposits                          -2,679    -3,134
   Borrowings from FHLB                                             --        --
   Repayments of FHLB advances                                    -417    -4,628
                                                                ------    ------
         Net cash provided (used)
         by investing activities                                -3,096    -7,762

Increase (decrease) in cash and cash equivalents                   157      -409
Cash and cash equivalents at beginning of period                 4,095     2,591
                                                                ------    ------

Cash and cash equivalents at end of period                       4,252     2,182
                                                                ======    ======

Supplemental disclosure
   Cash Paid for:
     Interest expense                                            1,729     2,486
     Income taxes                                                  -37        --



                 See notes to consolidated financial statements


                                       5`

#### NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS.

1.   BASIS OF PRESENTATION

The accompanying unaudited
consolidated financial statements have been prepared in accordance with
accounting principles generally accepted in the United States of America for
interim financial information and the instructions to Form 10-QSB. Accordingly,
they do not include all of the information and footnotes required by accounting
principles generally accepted in the United States of America for complete
financial statements. The consolidated financial statements include the accounts
of Lenox Bancorp, Inc. (Lenox or the Company) and its
wholly owned subsidiary Lenox Savings Bank (the Bank). In the
opinion of Lenox, the unaudited consolidated financial statements include all
adjustments (consisting of recurring accruals) considered necessary for a fair
presentation of financial position, results of operation and cash flow for the
interim period. All significant inter-company transactions have been eliminated
in consolidation.

The preparation of
financial statements in conformity with accounting principles generally accepted
in the United States of America requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates.

Results of operations and
cash flows for the nine-month period ended September 30, 2002, are not
necessarily indicative of the results to be expected for the full year to end
December 31, 2002. These unaudited consolidated financial statements should be
read in conjunction with the consolidated financial statements, accounting
policies and financial notes thereto included in the Companys Annual
Report on Form 10-KSB for the year ended December 31, 2001 filed with the
Securities and Exchange Commission.

2.   EARNINGS PER SHARE

The net loss for the nine
months ended September 30, 2002 was $62,000, or ($0.18) per share on an average
of 345,048 shares, compared to a net loss for the nine months ended September
30, 2001 of $239,000 or ($0.84) per share.

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

#### Comparison of
Financial Condition at September 30, 2002 and December 31, 2001

ASSETS.Total assets decreased by 5.7% to $59.4 million at September 30, 2002. This
decrease was due to a 19.3% decrease in loans receivable from $50.7 million at
December 31, 2001 to $40.9 million at September 30, 2002, primarily due to the
early payoff of loans. Total investment securities increased to $10.5 million at
September 30, 2002 from $4.3 million at December 31, 2001, as a result of
investing the proceeds from the loan payoffs.

LIABILITIES.
Total liabilities decreased by 6.3% to $53.8 million at September 30, 2002. This
decrease was primarily due to an 8.0% decrease in deposits to $30.6 million at
September 30, 2002. Total deposits declined $2.7 million to $30.6 million at
September 30, 2002, due to lower pricing in an effort to reduce the
Companys cost of funds.

STOCKHOLDERS' EQUITY. Stockholders' equity remained relatively unchanged at $5.6
million for the period ending September 30, 2002.

LIQUIDITY AND CAPITAL
RESOURCES.The Companys primary sources of funds are deposits, FHLB
advances, principal and interest payments on loans and loan sales in the
secondary market. While maturities and scheduled amortization of loans are
predictable sources of funds, deposit flow and mortgage prepayments are strongly
influenced by changes in general interest rates, economic conditions and
competition.

6

The primary investment
activity of the Company for the nine months ended September 30, 2002 was the
purchase of mortgage-backed securities. The most significant source of funds for
the nine months ending September 30, 2002, was the repayment of $9.8 million in
mortgage loans.

The Bank is required to
maintain a minimum level of liquidity consistent with the safe and sound
operation of the institution. The Banks most liquid assets are cash,
federal funds sold and marketable securities. The levels of the Banks
liquid assets are dependent on the Banks operation, financing, lending and
investing activities during any given period. At September 30, 2002, assets
qualifying for short-term liquidity, including cash and short-term investment,
totaled approximately $14.8 million.

At September 30, 2002, the
Banks capital exceeded all the capital requirements of the FDIC. The
Banks Tier 1 leverage and total capital to risk-weighted capital ratios
were 9.28% and 19.75%, respectively.

Comparison of Results of
Operations For the nine months ended September 30, 2002 and 2001.

GENERAL. The Company
reported net loss of $65,000 for the nine months ending September 30, 2002,
which represents a $174,000 increase compared to net loss reported for the nine
months ending September 30, 2001.

Comprehensive income for
the nine months ending September 30, 2002 was a loss of $7,000 compared to a
comprehensive loss of $170,000 for the nine months ending September 30, 2001.
The difference between net income and comprehensive income consists solely of
the effect of unrealized gain and losses, net of taxes, on available for sale
securities.

INTEREST AND DIVIDEND
INCOME. Interest and dividend income for the nine months ended September 30,
2002 decreased 20.4%. Interest income on loans decreased by 20.3% to $2.6
million for the nine months ended September 30, 2002. This was primarily due to
a lower average balance of loans. Other investments and investment bearing
deposits decreased by 21.0% to $376,000 for the nine months ended September 30,
2002, mainly due to lower interest rate environment, partially offset by
increase in average investment balances.

INTEREST
EXPENSE. Interest expense for the nine months ended September 30, 2002 was $1.7
million compared to $2.4 million for the nine months ended September 30, 2001, a
decrease of 29.2%. Interest expense on deposits decreased 41.1% due to lower
interest rates paid on deposits and lower deposits. Interest expense on borrowed
money decreased by $201,000 to $985,000 for the nine months ended September 30,
2002 due to lower average FHLB advances outstanding.

NET
INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES. Net interest income before
provision for loan losses decreased by $39,000 to $1,226,000 for the nine months
ended September 30, 2002.

PROVISION FOR LOAN LOSSES.
The provision for loan losses decreased from $238,000 for the nine months ending
September 30, 2001 to $94,000 for the nine months ended September 30, 2002.

The Company uses different
formulas to determine the appropriate level of provision necessary for the
allowance for loan losses to cover the losses in the loan portfolio. Because
future events affecting the loan portfolio cannot be predicted with complete
accuracy, there can be no assurance that managements estimates are correct
and that the existing allowance for loan losses is adequate. However, management
believes that based on the information available to them on September 30, 2002,
the Companys allowance for loan losses is sufficient to cover losses
inherent in the Companys current loan portfolio.

OTHER INCOME.Other income decreased by $77,000 due primarily to the decrease in
gains on sale of loans in the period ending September 30, 2002.

7

GENERAL AND ADMINISTRATIVE
EXPENSES. General and administrative expenses for the nine months ended
September 30, 2002 were $1.6 million compared to $1.8 million for the nine
months ended September 30, 2001. Compensation and benefits decreased by $315,000
to $705,000 for nine months ended September 30, 2002. This decrease was due
primarily to the accrual of $300,000 in June 2001, for a potential payout for an
employee contract.

INCOME TAXES. Income taxes
for the nine months ended September 30, 2002 increased by $68,000 due to an
increase in pretax earnings. Net loss before tax provision was $95,000 for the
nine months ended September 30, 2002, compared to net loss of $337,000 for the
same period ending September 30, 2001.

RECENT ACCOUNTING
PRONOUNCEMENTS. On July 29, 2001, the FASB issued SFAS 141 and 142. SFAS 141
requires that all business combinations be accounted for under a single method,
the purchase method. The use of the pooling of interest method is no longer
permitted. SFAS 141 requires that the purchase method be used for combinations
initiated after September 30, 2001. SFAS 142 requires that goodwill no longer be
amortized to earnings, but instead be reviewed for impairment. These statements
have no material effect on the Company at this time since it has not been
involved in a business combination subject to SFAS 141 and does not have
goodwill or other intangible assets subject to SFAS 142.

#### ITEM 3.   
Controls and Procedures

As of October 1, 2002, an
evaluation was performed under the supervision and with the participation of the
Companys management, including the Companys Chief Executive Officer
and Secretary and Treasurer (Chief Accounting Officer), of the effectiveness of
the design and operation of the Companys disclosure controls and
procedures. Based on that evaluation, the Companys management, including
the CEO and Treasurer, concluded that the Companys disclosure controls and
procedures were effective as of October 1, 2002. There have been no significant
changes in the Companys internal controls or in other factors that could
significantly affect internal controls subsequent to October 1, 2002.

#### PART II.    OTHER
INFORMATION

#### Item 1.    Legal
Proceedings.

On September 27, 2002,
Lenox and Ms. Heitzman reached an agreement in principle to settle all pending
arbitration and claims, subject to regulatory approval. The terms of such
settlement will not be final until the regulators provide a final response to
the applications submitted to them by Lenox and the Bank. This matter was
previously reported in the 10-QSB filed for June 30, 2002 quarter end.

Item 2.    Changes in Securities and Use of Proceeds.

None.

#### Item 3.   
Defaults Upon Senior Securities.

None.

Item 4.    Exhibits and
Reports on Form 8-K (ss.249.308 of this Chapter).

(a)     Exhibits

| | 99.199.2 | Certification  of Chief Financial  Officer  Pursuant to Section 906 of
          the Sarbanes-Oxley Act of 2002

 Certification  of Chief Executive  Officer  Pursuant to Section 906 of
          the Sarbanes-Oxley Act of 2002
| | -------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

(b)     Reports on Form 8-K

None

8

#### SIGNATURES

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

LENOX BANCORP, INC.

|Dated:     November 5, 2002
Dated:     November 5, 2002 | By: /s/ John C. Lame
                                           John C. Lame
                                           President and Chief Executive Officer
                                          (principal executive officer)


                  By: /s/ Jane Schank
                                           Jane Schank
                                           Secretary and Treasurer
|------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

9

Certification of Principal Executive Officer
                             Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
                              And Securities and Exchange Commission Release 34-46427

I, John C. Lame, the principal executive officer of Lenox Bancorp, Inc., certify that:

|1) | I have reviewed this quarterly report on Form 10-Q of Lenox Bancorp, Inc.;
|-- | --------------------------------------------------------------------------

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

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

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

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

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

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

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

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

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

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

Date: November 5, 2002

/s/John C. Lame
Principal Executive Officer

10

Certification of Principal Financial Officer
                             Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
                              And Securities and Exchange Commission Release 34-46427

I, Jane Schank, the principal financial officer of Lenox Bancorp, Inc., certify that:

|1) | I have reviewed this quarterly report on Form 10-Q of Lenox Bancorp, Inc.;
|-- | --------------------------------------------------------------------------

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

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

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

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

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

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

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

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

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

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

Date: November 5, 2002

/s/Jane Schank
Principal Financial Officer

11