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 March 31, 2002

_________    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 May 15,  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
         March 31, 2002 and June 30, 2001......................................2

         Consolidated Statements of Operations for the Three Month and
         Nine Month Periods ended March 31, 2002 and 2001.... .................3

         Consolidated Statements of Cash Flows for the Nine Month
         Periods Ended March 31, 2002 and 2001.................................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>
                                                          March 31        June 30,
                                                            2002            2001
                                                       ------------    ------------
                                                        (Unaudited)
         Assets
         ------
<S>                                                    <C>             <C>
Cash and noninterest bearing deposits                  $    418,482    $    882,696
Interest bearing deposits in other banks                    526,988          93,680
Federal funds sold                                        1,144,494       3,455,641
                                                       ------------    ------------
Total cash and cash equivalents                           2,089,964       4,432,017
Investments                                               3,522,833              --
Loans receivable, net                                    62,030,841      64,712,777
Mortgage-backed securities held to maturity
  at amortized cost, fair value of $117,608 (3/2002)
  and $146,691 (6/2001)                                     116,390         145,796
Federal Home Loan Bank of Atlanta stock, at cost            528,900         528,900
Accrued interest receivable                                 318,000         345,969
Ground rents owned, at cost                                 120,100         122,600
Property and equipment, net                                  73,275          83,069
Federal and state income taxes receivable                     1,209           6,237
Deferred tax asset                                          217,646         217,646
Prepaid expenses and other assets                           923,577          53,596
                                                       ------------    ------------
Total Assets                                           $ 69,942,735    $ 70,648,607
                                                       ------------    ------------

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

Liabilities:
Demand deposits                                        $  5,731,279    $  5,246,632
Money market and NOW accounts                            10,128,079       9,454,074
Time deposits                                            43,563,072      45,481,277
                                                       ------------    ------------
Total deposits                                           59,422,430      60,181,983
Advance payments by borrowers for taxes,
  insurance and ground rents                                814,926       1,196,077
Accrued interest payable on savings deposits                  9,554          12,544
Federal and state income taxes payable                        5,508          20,455
Accrued expenses and other liabilities                      606,998         556,820
                                                       ------------    ------------
Total liabilities                                        60,859,416      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                                4,222,378       4,149,733
Contra equity - Employee Stock Ownership Plan (ESOP)       (451,008)       (451,008)
Retained earnings, substantially restricted               7,050,772       6,720,826
Treasury Stock; 189,223 shares at cost at
  March 31, 2002 and  June 30, 2001                      (1,748,940)     (1,748,940)
                                                       ------------    ------------
Total stockholders' equity                                9,083,318       8,680,728
                                                       ------------    ------------

Total liabilities and stockholders' equity             $ 69,942,735    $ 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 Nine Months       For the Three Months
                                                Ended March 31,            Ended March 31,
                                               2002         2001         2002          2001
                                               ----         ----         ----          ----
<S>                                         <C>          <C>          <C>          <C>
Interest and fees on loans receivable       $3,441,500   $3,691,787   $1,108,095   $1,236,193
Interest on mortgage-backed securities           6,258        9,538        1,922        3,042
Interest on other investments                  112,140      138,891       30,816       33,079
                                            ----------   ----------   ----------   ----------
  Total interest income                     $3,559,898   $3,840,216   $1,140,833   $1,272,314
                                            ----------   ----------   ----------   ----------

Interest on savings deposits                $1,953,782   $2,144,058   $  569,362   $  721,659
Interest on borrowed money                          --      106,733           --       18,323
Interest on escrow deposits                      1,084        1,554          436          556
                                            ----------   ----------   ----------   ----------
  Total interest expense                    $1,954,866   $2,252,345   $  569,798   $  740,538

 Net interest income before provision
   for loan losses                           1,605,032    1,587,871      571,035      531,776
Provision for loan losses                          165           --           --           --
                                            ----------   ----------   ----------   ----------
  Net interest income                       $1,604,867   $1,587,871   $  571,035   $  531,776
                                            ----------   ----------   ----------   ----------
Other Income
------------
  Loan fees and service charges             $   80,465   $   78,572   $   25,791   $   31,444
  Gain on sales of loans receivable             25,937           --        1,839           --
  Other                                         26,475        8,879        5,200        2,441
                                            ----------   ----------   ----------   ----------
    Total other income                      $  132,877   $   87,451   $   32,830   $   33,885
                                            ----------   ----------   ----------   ----------

Noninterest Expenses
--------------------
  Salaries and employee benefits            $  723,923   $  690,285   $  240,919   $  247,184
  Occupancy costs                               76,398       84,994       25,213       30,300
  Professional services                         55,549       47,730       22,513       13,922
  Federal deposit insurance premiums             8,138        8,440        2,637        2,741
  Furniture and fixtures depreciation and
    maintenance                                 31,271       34,128       10,772       11,159
  Data processing                               62,829       62,510       21,922       21,594
  Advertising                                   19,244       47,557        3,925       10,051
  Franchise and other taxes                     37,983       42,741       18,811       20,721
  Other                                        177,447      153,628       67,956       48,058
                                            ----------   ----------   ----------   ----------
    Total noninterest expenses              $1,192,782   $1,172,013   $  414,668   $  405,730

Income before tax provision                    544,962      503,309      189,197      159,931

Provision for income taxes                     215,016      193,600       75,000       61,000
                                            ----------   ----------   ----------   ----------
    Net Income                              $  329,946   $  309,709   $  114,197   $   98,931
                                            ----------   ----------   ----------   ----------

    Basic net income per share                   $0.45        $0.42        $0.15        $0.14
    Diluted net income per share                 $0.42        $0.41        $0.14        $0.13
</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>
                                                                            Nine Months Ended March 31,
                                                                            ---------------------------
                                                                               2002           2001
                                                                               ----           ----
<S>                                                                        <C>            <C>
Cash Flows from operating activities
------------------------------------
  Net income                                                               $   329,946    $   309,709
  Adjustments to reconcile net income to net
    Cash provided by operating activities:
         Depreciation and amortization                                          28,640         30,988
         Non-cash compensation under stock based benefit plan                   72,645         75,667
         Amortization of loan fees                                             (54,590)       (37,691)
         Provision for loan loss                                                   165             --
         Gain on sales of loans receivable                                     (25,937)            --
         Loans originated for sale                                          (1,462,750)            --
         Proceeds from loans originated for sale                             1,488,687             --
         Decease in accrued interest receivable                                 27,969          2,291
         Increase in prepaid expenses  and other assets                       (869,981)        (4,058)
         Increase in accrued expenses and other liabilities                     50,178         50,967
         (Increase) decrease in federal and sate income taxes receivable         5,028        (14,713)
         Decrease in federal and state income taxes payable                    (14,947)        (8,748)
         Decrease in accrued interest payable on  savings deposits              (2,990)        (3,813)
         Increase in accrued interest payable on borrowings                         --        (10,007)
                                                                           -----------    -----------
Net cash provided by (used in) operating activities                           (427,937)       390,592

Cash flows from investing activities
------------------------------------
  Purchase of investments                                                   (3,522,833)            --
  Proceeds from sale of ground rents                                             2,500             --
  Net (increase) decrease in loans receivable                                5,162,831        (71,412)
  Purchase of loan participations                                           (2,426,470)      (330,459)
  Mortgage-backed securities principal repayments                               29,406         19,191
  Purchase of FHLB of Atlanta Stock                                                 --        (20,400)
  Purchases of property and equipment                                          (18,846)        (5,449)
                                                                           -----------    -----------
 Net cash used in investing activities                                        (773,412)      (408,529)

Cash flows from financing activities
------------------------------------
  Net increase (decrease) in savings deposits                                 (759,553)     2,037,188
  Decrease in borrowings                                                            --     (2,000,000)
  Decrease in advance payments by borrowers
    for taxes, insurance and ground rents                                     (381,151)      (417,624)
  Repurchase of common stock                                                        --       (505,075)
                                                                           -----------    -----------
Net cash used in financing activities                                       (1,140,704)      (885,511)

Net decrease in cash and cash equivalents                                  $(2,342,053)   $  (903,448)
Cash and cash equivalents at beginning of period                             4,432,017      2,085,906
                                                                           -----------    -----------

Cash and cash equivalents at end of period                                 $ 2,089,964    $ 1,182,458
                                                                           -----------    -----------

Supplemental information
------------------------
  Interest paid on savings deposits and borrowed funds                     $ 1,954,866    $ 2,252,344

  Income taxes paid                                                        $   197,000    $   217,060
</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 nine months ended
March  31,  2002  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 nine months ended March 31, 2002 and 2001
as follows:

                                     Three Months Ended      Six Months Ended
                                          March 31,             March 31,
                                        2002       2001       2002       2001
                                     --------------------  --------------------

Net income                            $114,197   $ 98,931   $329,946   $309,709
Weighted average shares
  Outstanding basic EPS                742,057    710,598    729,104    729,692
Dilutive items
  Stock options                         66,540     32,417     53,133     28,777
  Unvested stock awards                    797        158         --         --
Adjusted weighted average shares
   Outstanding used for diluted EPS    809,394    743,173    782,237    758,469


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  March  31,  2002
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)             $8,743,920     20.9%      $3,346,125     8.0%      $4,182,657     10.0%
Tier I capital (to
 Risk Weighted
 Assets)              8,460,292     20.2%       1,673,063     4.0%       2,509,594      6.0%
Tier 1 Capital (to
 Average Assets)      8,460,292     12.1%       2,797,343     4.0%       3,496,679      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 MARCH 31, 2002 AND JUNE 30, 2001

The Company's  assets  decreased  $700,000 or 1.0% to $69.9 million at March 31,
2002 from $70.6 million at June 30, 2001.  Cash and cash  equivalents  decreased
$2.3  million or 52.3% to $2.1  million at March 31,  2002 from $4.4  million at
June 30, 2001, primarily as a result of an increase in investments,  offset by a
decrease in savings deposits and a decrease in advance payments by borrowers for
taxes,  insurance and ground rents.  Investments increased $3.5 million at March
31, 2002 from $0 at June 30, 2001,  as a result of an investment of $3.5 million
in a cash management fund. Net loans  receivable  decreased $2.7 million or 4.2%
to $62.0  million  at March 31,  2002 from $64.7  million at June 30,  2001 as a
result of normal  amortization  and payoffs.  Prepaid  expenses and other assets
increased  $870,000 to $924,000 at March 31, 2002 from  $54,000 at June 30, 2001
due to an increase in accounts receivable. This increase relates primarily to an
expected  insurance  company  reimbursement  to the  Bank  for  an  embezzlement
discovered by the Bank's senior management in January 2002. The Bank immediately
notified the appropriate  federal law  enforcement and bank regulatory  agencies
and also  commenced  its own internal  review with the  assistance  of a special
forensic  accounting  firm. As a result of the review,  the Bank has  instituted
additional controls to prevent a recurrence of this event. In addition, the Bank
immediately  notified  its  insurer and  submitted  a timely  claim and the Bank
anticipates  being reimbursed for the entire amount of the embezzlement less the
$10,000  deductible  and for  the  Bank's  additional  accounting  expenses.  No
depositor  of the  Bank  suffered  any  loss as a  result  of this  matter.  Any
additional expenses incurred by the Bank as a result of this matter did not have
a material impact on net income.  Savings deposits decreased $800,000 or 1.3% to
$59.4 million at March 31, 2002 from $60.2 million at June 30, 2001. The Company
believes the deposit decline is a 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 $400,000 or 33.3%
to $800,000 at March 31, 2002 from $1.2  million at June 30, 2001 as a result of
the payment of real estate taxes. The Company's  stockholders'  equity increased
$400,000 or 4.6% to $9.1 million at March 31, 2002 from $8.7 million at June 30,
2001 primarily due to net income of $300,000 for the nine months ended March 31,
2002.

COMPARISON OF OPERATING  RESULTS FOR THE QUARTER AND NINE MONTHS ENDED MARCH 31,
2002 AND MARCH 31, 2001

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

The Company reported net income of $114,000 for the quarter ended March 31, 2002
compared to $99,000 for the quarter ended March 31, 2001.  The $15,000  increase
in net  income  was  primarily  due to an  increase  in net  interest  income of
$39,000,  offset by an increase in noninterest expense of $9,000 and an increase
in provision for income taxes of $14,000.

                                        8
<PAGE>

The  Company's  net income for the nine months ended March 31, 2002 was $330,000
compared to  $310,000  for the nine months  ended  March 31,  2001.  The $20,000
increase in net income was primarily  due to an increase in net interest  income
of $17,000 and an increase in other income of $46,000,  offset by an increase in
noninterest  expense of $21,000 and an increase in provision for income taxes of
$22,000.

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

Total  interest  income  decreased  by $131,000 or 10.3% to  $1,141,000  for the
quarter  ended March 31, 2002 from  $1,272,000  for the quarter  ended March 31,
2001.  The decrease in total  interest  income for the  comparable  three months
periods was due  primarily to a decrease of 74 basis points in the average yield
on  interest-earning  assets  to 6.75%  from  7.49%,  as a result  of  declining
interest rates.

Total interest  income  decreased by $280,000 or 7.3% to $3,560,000 for the nine
months  ended March 31,  2002 from  $3,840,000  for the nine months  ended March
31,2001.  The decrease in total interest  income for the comparable  nine months
periods was due  primarily to a decrease of 54 basis points in the average yield
on  interest-earning  assets  to 7.00%  from  7.54%,  as a result  of  declining
interest rates.

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

Total  interest  expense  decreased  by $171,000  or 23.1% to  $570,000  for the
quarter ended March 31, 2002 from $741,000 for the quarter ended March 31, 2001.
The decrease in total interest  expense for the comparable  three months periods
was due  primarily  to a decrease of 116 basis  points in the  average  yield on
interest-bearing liabilities to 3.89% from 5.05%.

Total interest expense decreased by $297,000 or 13.2% to $1,955,000 for the nine
months ended March 31, 2002 from  $2,252,000 for the nine months ended March 31,
2001.  The decrease in total  interest  expense for the  comparable  nine months
periods was due  primarily to a decrease of 65 basis points in the average yield
on interest-bearing liabilities to 4.45% from 5.10%.

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

The Company's net interest income increased  $39,000 or 7.3% to $571,000 for the
quarter ended March 31, 2002 from $532,000 for the quarter ended March 31, 2001.
The  increase  in net  interest  income  was  primarily  due to a decline in the
average  yield on  interest  bearing  liabilities  in a greater  amount than the
decline in the average yield on interest  earning  assets.  This is reflected in
the Company's net interest  margin,  which increased by 25 basis points to 3.38%
from 3.13% for the comparable three months periods.

                                        9
<PAGE>

The Company's net interest  income  increased  $17,000 or 1.1% to $1,605,000 for
the nine months ended March 31, 2002 from  $1,588,000  for the nine months ended
March 31,  2001.  The  increase in net interest  income was  primarily  due to a
decline in the average yield on interest bearing liabilities in a greater amount
than the  decline in the  average  yield on  interest  earning  assets.  This is
reflected in the  Company's  net  interest  margin,  which  increased by 3 basis
points to 3.15% from 3.12% for the comparable nine months 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 March
31, 2002,  the Company  recorded no provision  for loan losses.  During the nine
months ended March 31, 2002, the Company recorded a provision for loan losses of
$165.  During the three months and nine months ended March 31, 2001, the Company
recorded no provision for loan losses.  The Company's  nonperforming  loans as a
percentage of loans  receivable  was 0.29% and 0.14% at March 31, 2002, and June
30, 2001,  respectively,  all consisting of single-family  residential  mortgage
loans.

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

Total noninterest income remained virtually unchanged at $33,000 for the quarter
ended March 31, 2002 compared to $34,000 for the quarter ended March 31, 2001.

Total noninterest  income increased by $46,000 or 52.9% to $133,000 for the nine
months  ended March  31,2002  from  $87,000 for the nine months  ended March 31,
2001.  The increase in  noninterest  income was due  primarily to an increase of
$26,000  in gain on sales of loans  receivable  to $26,000  for the nine  months
ended  March 31,  2002 from $0 for the nine  months  ended March 31, 2001 and an
increase of $17,000 in other  income to $26,000 for the nine months  ended March
31, 2001 from  $9,000 for the nine  months  ended March 31, 2001 due to sales of
annuities and miscellaneous fees.

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

Total  noninterest  expenses  increased  by $9,000 or 2.2% to  $415,000  for the
quarter ended March 31, 2002 from $406,000 for the quarter ended March 31, 2001.
The increase in  noninterest  expenses was primarily due to an increase in other
non interest  expense of $20,000 to $68,000 for the quarter ended March 31, 2002
from $48,000 for the quarter  ended March 31, 2001,  primarily due to an accrual
of the  deductible of $10,000 on the Company's  blanket bond in connection  with
the pending insurance claim.


                                       10
<PAGE>

Total  noninterest  expenses  increased by $21,000 or 1.8% to $1,193,000 for the
nine months ended March 31, 2002 from $1,172,000 for the nine months ended March
31, 2001. The increase in noninterest  expenses was primarily due to an increase
in salaries  and  employee  benefits of $33,000 to $723,000  for the nine months
ended March 31, 2002 from  $690,000 for the nine months ended March 31, 2001 and
an increase in other non  interest  expense of $23,000 to $177,000  for the nine
months  ended March 31, 2002 from  $154,000  for the nine months ended March 31,
2001,  partially  offset by a  decrease  in  advertising  expense  of $29,000 to
$19,000  for the nine  months  ended  March 31,  2002 from  $48,000 for the nine
months ended March 31, 2001. The increase in salaries and employee  benefits was
the result of staff  additions,  the increase in other non interest  expense was
primarily due to an accrual of the deductible on the Company's  blanket bond 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 $14.0 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 March 31,  2002,  the  Company's  cash on hand,  interest
bearing  deposits,  Federal funds sold and short-term  investments  totaled $5.6
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  $3.2 million as of
March 31, 2002.

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  March  31,  2002  totaled  $20.9  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 nine
months  ended  March  31,  2002  was a net  decrease  of $5.2  million  in loans
receivable, offset by a $2.4 million increase in loan participations.

                                       11

<PAGE>

The  Company's  primary  uses of cash in  financing  activities  during the nine
months  ended  March,  2002  consisted  of a net decrease of $700,000 in savings
deposits  and a net decrease of $400,000 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
         None

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:  May 15, 2002                 /s/ Ernest A. Moretti
                                    ------------------------------------
                                    Ernest A. Moretti
                                    President and Chief Executive Officer
                                    (Principal Executive Officer)


Date:  May 15, 2002                 /s/ Ronald W. Robinson
                                    -------------------------------------
                                    Ronald W. Robinson
                                    Treasurer
                                    (Principal Financial and Accounting Officer)


                                       14