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


                                   FORM 10-QSB

(Mark One)
    X        Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
---------    Exchange Act of 1934

             For the quarterly period ended December 31, 2001

_____        Transition Report Pursuant to Section 13 or 15(d) of the Securities
             Exchange Act of 1934

             For the transition period from _____ to _____

Commission File Number:  0-23345


                         WYMAN PARK BANCORPORATION, INC.
                         -------------------------------
        (Exact Name of Small Business Issuer as Specified in its Charter)


          DELAWARE                                         52-2068893
---------------------------------------                    ----------
(State or Other Jurisdiction of                          (I.R.S. Employer
Incorporation or Organization)                          Identification No.)


                11 WEST RIDGELY ROAD, LUTHERVILLE, MARYLAND 21093
                -------------------------------------------------
                    (Address of Principal Executive Offices)

                                 (410)-252-6450
                                 --------------
               Registrant's Telephone Number, Including Area Code


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

As of February 5, 2002, the issuer had 822,490 shares of Common Stock issued and
outstanding.

Transitional Small Business Disclosure Format (check one):

Yes___   No    X
            -------

<PAGE>
                                    CONTENTS
                                    --------

PART I.   FINANCIAL INFORMATION                                            PAGE
          ---------------------                                            ----

Item I.   Financial Statements

          Consolidated Statements of Financial Condition at
          December 31, 2001 and June 30, 2001................................. 2

          Consolidated Statements of Operations for the Three Month and Six
          Month Periods ended December 31, 2001 and 2000.... ................. 3

          Consolidated Statements of Cash Flows for the Six Month
          Periods Ended December 31, 2001 and 2000............................ 4

          Notes to Consolidated Financial Statements........................ 5-6

Item 2.   Management's Discussion and Analysis of Financial Condition and
          Results of Operations............................................ 7-12


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

Item 1.  Legal Proceedings................................................... 13

Item 2.  Changes in Securities and Use of Proceeds........................... 13

Item 3.  Defaults Upon Senior Securities..................................... 13

Item 4.  Submission of Matters to a Vote of Security Holders................. 13

Item 5.  Other Information................................................... 13

Item 6.  Exhibits and Reports on Form 8-K.................................... 13


SIGNATURES................................................................... 14

                                       1
<PAGE>

                Wyman Park Bancorporation, Inc. and Subsidiaries
                              Lutherville, Maryland
                 Consolidated Statements of Financial Condition
<TABLE>
<CAPTION>
                                                         December 31       June 30,
                                                             2001            2001
                                                        -------------   ------------
                                                               (Unaudited)
         Assets
         ------
<S>                                                     <C>             <C>
Cash and noninterest bearing deposits                   $    463,437    $    882,696
Interest bearing deposits in other banks                     294,644          93,680
Federal funds sold                                         1,397,657       3,455,641
                                                        ------------    ------------
Total cash and cash equivalents                            2,155,738       4,432,017
Investments                                                2,509,778              --
Loans receivable, net                                     62,290,102      64,712,777
Mortgage-backed securities held to maturity
  at amortized cost, fair value of $131,709 (12/2001)
  and $146,691 (6/2001)                                      128,533         145,796
Federal Home Loan Bank of Atlanta stock, at cost             528,900         528,900
Accrued interest receivable                                  290,398         345,969
Ground rents owned, at cost                                  120,100         122,600
Property and equipment, net                                   74,706          83,069
Federal and state income taxes receivable                     12,191           6,237
Deferred tax asset                                           217,646         217,646
Prepaid expenses and other assets                             71,678          53,596
                                                        ------------    ------------
Total Assets                                            $ 68,399,770    $ 70,648,607
                                                        ------------    ------------

           Liabilities & Stockholders'Equity
           ---------------------------------

Liabilities:
Demand deposits                                         $  5,178,402    $  5,246,632
Money market and NOW accounts                              9,291,639       9,454,074
Time deposits                                             43,840,991      45,481,277
                                                        ------------    ------------
Total deposits                                            58,311,032      60,181,983
Advance payments by borrowers for taxes,
  insurance and ground rents                                 508,058       1,196,077
Accrued interest payable on savings deposits                   8,677          12,544
Federal and state income taxes payable                         2,893          20,455
Accrued expenses and other liabilities                       675,655         556,820
                                                        ------------    ------------
Total liabilities                                         59,506,315      61,967,879

Stockholders' Equity
--------------------
Common stock, par value $.0l per share; authorized
  2,000,000 shares; issued 1,011,713 shares                   10,117          10,117
Additional paid-in capital                                 4,146,711       4,149,733
Contra equity - Employee Stock Ownership Plan (ESOP)        (451,008)       (451,008)
Retained earnings, substantially restricted                6,936,575       6,720,826
Treasury Stock; 189,223 shares at cost at
  December 31, 2001 and  June 30, 2001                    (1,748,940)     (1,748,940)
                                                        ------------    ------------
Total stockholders' equity                                 8,893,455       8,680,728
                                                        ------------    ------------

Total liabilities and stockholders' equity              $ 68,399,770    $ 70,648,607
                                                        ------------    ------------
</TABLE>
See accompanying notes to financial statements.

                                        2
<PAGE>

                Wyman Park Bancorporation, Inc. and Subsidiaries
                              Lutherville, Maryland
                      Consolidated Statements of Operation
                                   (Unaudited)
<TABLE>
<CAPTION>
                                              For the Six Months       For the Three Months
                                               Ended December 31,        Ended December 31,
                                               2001         2000         2001         2000
                                               ----         ----         ----         ----
<S>                                         <C>          <C>          <C>          <C>
Interest and fees on loans receivable       $2,333,405   $2,455,594   $1,151,429   $1,237,315
Interest on mortgage-backed securities           4,336        6,496        2,122        3,191
Interest on other investments                   81,324      105,812       38,435       53,938
                                            ----------   ----------   ----------   ----------
  Total interest income                     $2,419,065   $2,567,902   $1,191,986   $1,294,444
                                            ----------   ----------   ----------   ----------

Interest on savings deposits                $1,384,420   $1,422,399   $  662,810   $  736,648
Interest on borrowed money                          --       88,410           --       28,998
Interest on escrow deposits                        648          998          260          322
                                            ----------   ----------   ----------   ----------
  Total interest expense                    $1,385,068   $1,511,087   $  663,070   $  765,968

Net interest income before provision
   for loan losses                           1,033,997    1,056,095      528,916      528,476
Provision for loan losses                          165           --          165           --
                                            ----------   ----------   ----------   ----------
  Net interest income                       $1,033,832   $1,056,095   $  528,751   $  528,476
                                            ----------   ----------   ----------   ----------

Other Income
------------
  Loan fees and service charges             $   54,674   $   47,128   $   25,346   $   25,021
  Gain on sales of loans receivable             24,098           --       19,323           --
  Other                                         21,275        6,438       12,159        4,336
                                            ----------   ----------   ----------   ----------
    Total other income                      $  100,047   $   53,566   $   56,828   $   29,357
                                            ----------   ----------   ----------   ----------

Noninterest Expenses
--------------------
  Salaries and employee benefits            $  483,004   $  443,101   $  229,829   $  210,427
  Occupancy costs                               51,185       54,694       24,566       28,211
  Professional services                         33,036       33,808       20,307       18,481
  Federal deposit insurance premiums             5,501        5,699        2,794        2,852
  Furniture and fixtures depreciation and
    maintenance                                 20,499       22,969        9,508       11,250
  Data processing                               40,907       40,916       20,263       20,245
  Advertising                                   15,319       37,506        8,540       15,455
  Franchise and other taxes                     19,172       22,020        6,683       10,554
  Other                                        109,491      105,570       58,396       58,288
                                            ----------   ----------   ----------   ----------
    Total noninterest expenses              $  778,114   $  766,283   $  380,886   $  375,763

Income before tax provision                    355,765      343,378      204,693      182,070

Provision for income taxes                     140,016      132,600       82,316       70,600
                                            ----------   ----------   ----------   ----------

    Net Income                              $  215,749   $  210,778   $  122,377   $  111,470
                                            ----------   ----------   ----------   ----------

    Basic net income per share              $     0.30   $     0.29   $     0.17   $     0.15
    Diluted net income per share            $     0.28   $     0.27   $     0.16   $     0.15
</TABLE>

See accompanying notes to financial statements.

                                        3
<PAGE>
                         Wyman Park Bancorporation, Inc.
                                and Subsidiaries
                              Lutherville, Maryland

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                    Six Months Ended December 31,
                                                                    -----------------------------
                                                                         2001           2000
                                                                         ----           ----
<S>                                                                  <C>            <C>
Cash Flows from operating activities
------------------------------------
  Net income                                                         $   215,749    $   210,778
  Adjustments to reconcile net income to net
    Cash provided by operating activities:
         Depreciation and amortization                                    19,572         20,723
         Non-cash compensation under stock based benefit plan             (3,022)            --
         Amortization of loan fees                                       (32,301)       (26,748)
         Provision for loan loss                                             165
         Gain on sales of loans receivable                               (24,098)            --
         Loans originated for sale                                    (1,310,350)            --
         Proceeds from loans originated for sale                       1,334,448             --
         Decease in accrued interest receivable                           55,571         16,533
         (Increase) decrease in prepaid expenses  and other assets       (18,082)        15,346
         Increase in accrued expenses and other liabilities              118,835        111,667
         Increase in federal and sate income taxes receivable             (5,954)          (319)
         Decrease in federal and state income taxes payable              (17,562)        (8,141)
         Increase (decrease) in accrued interest payable on
           savings deposits                                               (3,867)         2,283
         Increase in accrued interest payable on borrowings                   --        (11,896)
                                                                     -----------    -----------
Net cash provided by operating activities                                329,104        330,226

Cash flows from investing activities
------------------------------------
  Increase in investments                                             (2,509,778)            --
  Proceeds from sale of ground rents                                       2,500             --
  Net decrease in loans receivable                                     4,107,162        345,277
  Purchase of loan participations                                     (1,652,351)      (246,519)
  Mortgage-backed securities principal repayments                         17,263         11,805
  Purchases of property and equipment                                    (11,209)          (757)
                                                                     -----------    -----------
 Net cash provided by  (used in) investing activities                    (46,413)       109,806

Cash flows from financing activities
------------------------------------
  Net increase (decrease) in savings deposits                         (1,870,951)     2,796,679
  Decrease in borrowings                                                      --     (2,500,000)
  Decrease in advance payments by borrowers
    for taxes, insurance and ground rents                               (688,019)      (748,780)
  Repurchase of common stock                                                  --       (505,075)
                                                                     -----------    -----------
Net cash used in financing activities                                 (2,558,970)      (957,176)

Net decrease in cash and cash equivalents                            $(2,276,279)   $  (517,144)
Cash and cash equivalents at beginning of period                       4,432,017      2,085,906
                                                                     -----------    -----------

Cash and cash equivalents at end of period                           $ 2,155,738    $ 1,568,762
                                                                     -----------    -----------

Supplemental information
------------------------
  Interest paid on savings deposits and borrowed funds               $ 1,385,069    $ 1,511,806

  Income taxes paid                                                  $   147,000    $   141,060
</TABLE>
See accompanying notes to financial statements.

                                        4
<PAGE>
                WYMAN PARK BANCORPORATION, INC. AND SUBSIDIARIES
                              LUTHERVILLE, MARYLAND
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)


NOTE 1:   WYMAN PARK BANCORPORATION, INC.

Wyman Park Bancorporation,  Inc. (the "Company") is the holding company of Wyman
Park Federal Savings & Loan  Association  ("Association"),  which converted from
mutual to stock form ("Stock Conversion") and became the wholly owned subsidiary
of the  Company on  January 5, 1998.  All  references  to the  Company  prior to
January 5, 1998,  except where otherwise  indicated are to the Association.  The
Company's  common stock began trading on the OTC  Electronic  Bulletin  Board on
January 7, 1998 under the symbol "WPBC".

The Association is regulated by the Office of Thrift  Supervision  ("OTS").  The
primary  business of the Association is to attract  deposits from individual and
corporate  customers and to originate  residential and commercial mortgage loans
and consumer loans.  The Association  competes with other financial and mortgage
institutions  in attracting and retaining  deposits and originating  loans.  The
Association  conducts  operations  through  its main  office  located at 11 West
Ridgely Road, Lutherville,  Maryland 21093 and one branch office located at 7963
Baltimore-Annapolis Boulevard, Glen Burnie, Maryland 21060.

NOTE 2:   BASIS OF PRESENTATION

The accompanying  unaudited consolidated financial statements have been prepared
in accordance with  instructions  for Form 10-QSB and therefore,  do not include
all  disclosures  necessary  for a complete  presentation  of the  statements of
condition,  statements of operations  and statements of cash flows in conformity
with generally accepted accounting  principles.  However, all adjustments which,
in the opinion of  management,  are necessary for the fair  presentation  of the
interim  financial  statements have been included.  Such  adjustments  were of a
normal  recurring  nature.  The results of  operations  for the six months ended
December  31, 2001 are not  necessarily  indicative  of the results  that may be
expected for the entire year.  Certain prior year amounts have been reclassified
to conform with the current year presentation.

NOTE 3:   CASH AND CASH EQUIVALENTS

For the  purposes of the  statement  of cash flows,  the Company  considers  all
highly liquid investments with maturities at date of purchase of three months or
less to be cash  equivalents.  Cash  equivalents  consist of cash,  non-interest
bearing  deposits,  variable rate interest  bearing  deposits in other banks and
federal funds sold.

                                        5
<PAGE>

NOTE 4:   EARNINGS PER SHARE

Basic  earnings  per share is computed by  dividing  net income by the  weighted
average number of common shares outstanding for the appropriate period. Unearned
Employee  Stock  Ownership  Plan (ESOP)  shares are not included in  outstanding
shares.  Diluted  earnings  per share is computed by dividing  net income by the
weighted average shares outstanding as adjusted for the dilutive effect of stock
options  and  unvested  stock  awards  based  on the  "treasury  stock"  method.
Information relating to the calculations of net income per share of common stock
is  summarized  for the three months and six months ended  December 31, 2001 and
2000 as follows:

                                      Three Months Ended     Six Months Ended
                                           December 31,        December 31,
                                        2001       2000       2001      2000
                                      -------------------   -------------------

Net income                            $122,377   $111,470   $215,749   $210,778
Weighted average shares
  Outstanding basic EPS                724,731    720,126    722,767    739,031
Dilutive items
  Stock options                         49,328     26,025     44,450     27,096
  Unvested stock awards                  2,604        542      1,898        761
Adjusted weighted average shares
   Outstanding used for diluted EPS    776,663    746,693    769,115    766,888


NOTE 5:   REGULATORY CAPITAL REQUIREMENTS

Under OTS  regulations,  the Association must maintain capital at least equal to
specified  percentage of its assets.  The  Association's  assets and capital for
these  purposes are subject to OTS  regulatory  definition,  and the  percentage
levels vary depending on the capital levels being measured.  The following table
presents  the  Association's  capital  position  based on the  December 31, 2001
financial statements.
<TABLE>
<CAPTION>
                                                                                To Be Well
                                                                            Capitalized Under
                                                       For Capital          Prompt Corrective
                                    Actual          Adequacy Purposes       Action Provisions
                           ---------------------    ------------------    --------------------
                              Amount     Ratio      Amount       Ratio       Amount      Ratio
                              ------     -----      ------       -----       ------      -----
<S>                       <C>              <C>      <C>           <C>     <C>            <C>
Total Capital (to
 Risk Weighted
 Assets)                  $  8,554,171     21.3%    $3,217,833    8.0%    $4,022,291     10.0%
Tier I capital (to
 Risk Weighted
 Assets)                     8,269,171     20.6%     1,608,892    4.0%     2,413,337      6.0%
Tier 1 Capital (to
 Average Assets)             8,269,171     12.1%     2,735,890    4.0%     3,419,863      5.0%
</TABLE>

                                        6
<PAGE>

ITEM 2: MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS.

FORWARD-LOOKING STATEMENTS

When  used  in this  filing  and in  future  filings  by the  Company  with  the
Securities  and Exchange  Commission,  in the Company's  press releases or other
public  or  shareholder  communications,  or in oral  statements  made  with the
approval of an authorized  executive  officer,  the words or phrases "would be,"
"will  allow,"  "intends  to," "will likely  result,"  "are  expected to," "will
continue," "is anticipated,"  "estimate,"  "project" or similar  expressions are
intended  to  identify  "forward-looking  statements"  within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements are subject to
risks and  uncertainties,  including  but not  limited to  changes  in  economic
conditions  in the  Company's  market  area,  changes in policies by  regulatory
agencies,  fluctuations  in interest  rates,  demand for loans in the  Company's
market area and competition,  all or some of which could cause actual results to
differ  materially from historical  earnings and those presently  anticipated or
projected.

The Company  wishes to caution  readers not to place undue  reliance on any such
forward-looking  statements,  which speak only as of the date made,  and advises
readers  that  various  factors,   including   regional  and  national  economic
conditions,  substantial  changes in levels of market interest rates, credit and
other risks of lending and investment  activities and competitive and regulatory
factors,  could affect the Company's  financial  performance and could cause the
Company's  actual  results for future  periods to differ  materially  from those
anticipated or projected.

The Company does not undertake,  and specifically disclaims any obligations,  to
update any  forward-looking  statements to reflect  occurrences or unanticipated
events or circumstances after the date of such statements.

                                        7
<PAGE>

COMPARISON OF FINANCIAL CONDITION AT DECEMBER 31, 2001 AND JUNE 30, 2001

The Company's assets decreased $2.2 million or 3.1% to $68.4 million at December
31,  2001  from  $70.6  million  at June 30,  2001.  Cash  and cash  equivalents
decreased  $2.2  million or 50.0% to $2.2 million at December 31, 2001 from $4.4
million at June 30, 2001, primarily as a result of an investment of $2.5 million
in a cash management  fund,  thereby  increasing  investments to $2.5 million at
December 31, 2001 from $0 at June 30, 2001. Net loans receivable  decreased $2.4
million or 3.7% to $62.3 million at December 31, 2001 from $64.7 million at June
30,  2001 as a result of  normal  amortization  and  payoffs.  Savings  deposits
decreased  $1.9 million or 3.2% to $58.3 million at December 31, 2001 from $60.2
million at June 30, 2001. The Company believes the deposit decline is the result
of customer  reaction to reduced  deposit rates,  as the Company seeks to manage
its net interest margin.  Advance payments by borrowers for taxes, insurance and
ground rents  decreased  $700,000 or 58.3% to $500,000 at December 31, 2001 from
$1.2 million at June 30, 2001 as the result of the payment of real estate taxes.
The Company's stockholders' equity increased $200,000 or 2.3% to $8.9 million at
December  31, 2001 from $8.7  million at June 30, 2001 as a result of net income
of $200,000 for the six months ended December 31, 2001.

COMPARISON  OF OPERATING  RESULTS FOR THE QUARTER AND SIX MONTHS ENDED  DECEMBER
31, 2001 AND DECEMBER 31, 2000

Net Income
----------

The Company  reported net income of $122,000 for the quarter ended  December 31,
2001 compared to $111,000 for the quarter ended  December 31, 2000.  The $11,000
increase  in net income was  primarily  due to an  increase  in other  income of
$28,000,  offset by an increase in noninterest expense of $5,000 and an increase
in provision for income taxes of $11,000. Net interest income remained basically
unchanged as compared to the quarter ended December 31, 2000.

The Company's net income for the six months ended December 31, 2001 was $216,000
compared to $211,000  for the six months ended  December  31,  2000.  The $5,000
increase  in net income was  primarily  due to an  increase  in other  income of
$46,000,  offset by a decrease in net interest income of $22,000, an increase in
noninterest  expense of $12,000 and an increase in provision for income taxes of
$7,000.

Interest Income
---------------

Total  interest  income  decreased  by  $102,000 or 7.9% to  $1,192,000  for the
quarter ended  December 31, 2001 from  $1,294,000 for the quarter ended December
31, 2000. The decrease in total interest income for the comparable  three months
periods was due  primarily to a decrease of 61 basis points in the average yield
on  interest-earning  assets  to 7.02%  from  7.63%,  as a result  of  declining
interest rates.

                                        8
<PAGE>

Total  interest  income  decreased by $149,000 or 5.8% to $2,419,000 for the six
months ended December 31, 2001 from $2,568,000 for the six months ended December
31,2000.  The decrease in total  interest  income for the  comparable six months
periods was due  primarily to a decrease of 44 basis points in the average yield
on  interest-earning  assets  to 7.12%  from  7.56%,  as a result  of  declining
interest rates.

Interest Expense
----------------

Total  interest  expense  decreased  by $103,000  or 13.4% to  $663,000  for the
quarter ended December 31, 2001 from $766,000 for the quarter ended December 31,
2000.  The decrease in total interest  expense for the  comparable  three months
periods was due  primarily  to a decrease of $900,000 in the average  balance of
interest-bearing  liabilities to $58.4 million from $59.3 million and a decrease
of 63 basis points in the average yield on interest-bearing liabilities to 4.54%
from 5.17%.

The decrease in the average balance of interest-bearing liabilities was due to a
decrease in average  borrowings of $1.7 million for the three months  comparable
periods,  partially  offset by an increase of $800,000 in the average balance of
savings deposits for the three months comparable periods.

Total interest  expense  decreased by $126,000 or 8.3% of $1,385,000 for the six
months ended December 31, 2001 from $1,511,000 for the six months ended December
31, 2000. The decrease in total  interest  expense for the comparable six months
periods was due  primarily  to a decrease of $600,000 in the average  balance of
interest-bearing  liabilities to $58.5 million from $59.1 million and a decrease
of 38 basis points in the average yield on interest-bearing liabilities to 4.73%
from 5.11%.

The decrease in the average balance of interest-bearing liabilities was due to a
decrease in average  borrowings  of $2.6  million for the six months  comparable
periods,  partially offset by an increase of $2.0 million in the average balance
of savings deposits for the six months comparable periods.

Net Interest Income
-------------------

The Company's net interest income remained  virtually  unchanged at $529,000 for
the quarter ended  December 31, 2001 from the quarter  ended  December 31, 2000.
This was the result of the decline in interest  income being  virtually the same
as the decline in interest  expense.  This is  reflected  in the  Company's  net
interest margin, which increased only 1 basis point to 3.12% from 3.11%.

The Company's net interest  income  decreased  $22,000 or 2.1% to $1,034,000 for
the six months ended December 31, 2001 from  $1,056,000 for the six months ended
December 31, 2000.  The decrease in net interest  income was  primarily due to a
decline in interest income

                                        9
<PAGE>

in a greater amount than the decline in interest  expense.  This is reflected in
the Company's net interest margin,  which decreased 7 basis points to 3.04% from
3.11% for the comparable six month periods.

Provision For Loan Losses
-------------------------

Management  monitors its  allowance  for loan losses and makes  additions to the
allowance,  through the provision for loan losses,  as economic  conditions  and
other factors dictate. Among the other factors considered by management are loan
volume,  type of  collateral  and prior loan loss  experience.  During the three
months ended December 31, 2001, the Company recorded a provision for loan losses
of $165. The Company's  nonperforming  loans as a percentage of loans receivable
was 0.23% and 0.14% at December 31, 2001, and June 30, 2001,  respectively,  all
consisting of single-family residential mortgage loans.

Noninterest Income
------------------

Total  noninterest  income  increased  by $28,000  or 96.6% to  $57,000  for the
quarter ended  December 31, 2001 from $29,000 for the quarter ended December 31,
2000.  The increase in  noninterest  income was due  primarily to an increase of
$19,000 in gain on sales of loans  receivable for the quarter ended December 31,
2001 from $0 for the quarter  ended  December 31, 2000 and an increase of $8,000
in other income to $12,000 for the quarter  ended  December 31, 2001 from $4,000
for  the  quarter  ended  December  31,  2000  due to  sales  of  annuities  and
miscellaneous fees.

Total  noninterest  income increased by $46,000 or 85.2% to $100,000 for the six
months ended December 31,2001 from $54,000 for the six months ended December 31,
2000.  The increase in  noninterest  income was due  primarily to an increase of
$8,000 in service fees on checking  accounts to $55,000 for the six months ended
December 31, 2001 from $47,000 for the six months  ended  December 31, 2000,  an
increase of $24,000 in gain on sales of loans  receivable to $24,000 for the six
months ended  December  31, 2001 from $0 for the six months  ended  December 31,
2000 and an  increase  of $15,000 in other  income to $21,000 for the six months
ended December 31, 2000 due to sales of annuities and miscellaneous fees.

Noninterest Expenses
--------------------

Total  noninterest  expenses  increased  by $5,000 or 1.3% to  $381,000  for the
quarter ended December 31, 2001 from $376,000 for the quarter ended December 31,
2000. The increase in  noninterest  expenses was primarily due to an increase in
salaries  and  employee  benefits of $20,000 to $230,000  for the quarter  ended
December 31, 2001 from  $210,000 for the quarter  ended  December 31, 2000, as a
result of staff additions.

                                       10
<PAGE>

Total noninterest  expenses increased by $12,000 or 1.6% to $778,000 for the six
months ended  December 31, 2001 from $766,000 for the six months ended  December
31, 2000. The increase in noninterest  expenses was primarily due to an increase
in salaries  and  employee  benefits  of $40,000 to $483,000  for the six months
ended  December 31, 2001 from  $443,000  for the six months  ended  December 31,
2000,  partially  offset by a  decrease  in  advertising  expense  of $23,000 to
$15,000 for the six months  ended  December  31,  2001 from  $38,000 for the six
months ended December 31, 2000.  The increase in salaries and employee  benefits
was the result of staff  additions and the decrease in  advertising  expense was
due to the elimination of a billboard advertising campaign.

Liquidity and Capital Resources
-------------------------------

Liquidity  management for the Company is both an ongoing and long-term  function
of  the  Company's  asset/liability  management  strategy.  Excess  funds,  when
applicable, generally are invested in overnight deposits at a correspondent bank
and at the  Federal  Home Loan Bank (FHLB) of Atlanta and in a short term liquid
cash management  fund.  Currently when the Company  requires  funds,  beyond its
ability to generate  deposits,  additional  sources of funds are  available,  as
advances or borrowings, through the FHLB of Atlanta. The Company has the ability
to pledge its FHLB of Atlanta stock or certain other assets as collateral for up
to $13.7 million in advances. The Company's most liquid assets are cash and cash
equivalents, which include short-term investments, as well as an investment in a
short-term,  liquid  cash  management  fund.  The  levels  of these  assets  are
dependent on the Company's operating,  financing and investing activities during
any given period.  At December 31, 2001,  the Company's  cash on hand,  interest
bearing  deposits,  Federal funds sold and short-term  investments  totaled $4.7
million.  Management  and the  Board of  Directors  believe  that the  Company's
liquidity is adequate, including its ability to secure advances from the FHLB of
Atlanta,  to satisfy its loan  commitments of  approximately  $3.1 million as of
December 31, 2001.

The Company's principal sources of funds are deposits, loan repayments and other
funds  provided by  operations.  Certificates  of deposit which are scheduled to
mature  in less  than one year at  December  31,  2001  totaled  $22.1  million.
Historically,  a high  percentage  of maturing  deposits  have remained with the
Company.  While  scheduled loan repayments are relatively  predictable,  deposit
flows and early loan prepayments are more influenced by interest rates,  general
economic conditions,  and competition.  The Association 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.

The  Company's  primary  source of cash in investing  activities  during the six
months  ended  December  31, 2001 was a net  decrease  of $4.1  million in loans
receivable, offset by a $1.6 million increase in loan participations.

                                       11
<PAGE>

The Company's primary uses of cash in financing activities during the six months
ended  December 31, 2001  consisted of a net decrease of $1.9 million in savings
deposits  and a net decrease of $700,000 in advance  payments by  borrowers  for
taxes, insurance and ground rents.

                                       12
<PAGE>

PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS
         None.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS
         None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES
         None.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY-HOLDERS

         (a)  On  October  17,  2001,  Wyman   Park  Bancorporation,  Inc.  (the
              "Company") held its Annual Meeting of Stockholders.

         (b)  Not Applicable

         (c)  Stockholders voted on the following matters:

              (i)  The election of the following three directors of the Company;

                        Votes:                         For         Withheld
                        ------                         ---         --------

                        Allan B. Heaver              566,767       162,004
                        H. Douglas Huether           567,267       161,504
                        Jay H. Salkin                567,267       161,504

          As a result,  Allan B. Heaver,  H.  Douglas  Huether and Jay H. Salkin
          were  elected  directors  for terms to expire in 2004.  There  were no
          abstentions or broker non votes.

ITEM 5.  OTHER INFORMATION
         None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K
         (a)   Exhibits
               None

         (b)   Reports on Form 8-K
               None

                                       13
<PAGE>
                                   Signatures


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


                                    WYMAN PARK BANCORPORATION, INC.
                                    Registrant


Date:  February 5, 2002             /s/ Ernest A. Moretti
                                    --------------------------------------------
                                    Ernest A. Moretti
                                    President and Chief Executive Officer
                                    (Principal Executive Officer)


Date:  February 5, 2002             /s/ Ronald W. Robinson
                                    --------------------------------------------
                                    Ronald W. Robinson
                                    Treasurer
                                    (Principal Financial and Accounting Officer)

                                       14