FORM 10-QSB

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

(Mark One)

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

For the quarterly period ended        September 30, 1998             
                               --------------------------------------

                                       OR

[ ]          TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________ to _______________

Commission File No. 33-84132

                        COMMUNITY INVESTORS BANCORP, INC.
             (Exact name of registrant as specified in its charter)

             Ohio                                               34-1779309 
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                           Identification Number)

119 South Sandusky Avenue
Bucyrus, Ohio                                                      44820       
(Address of principal                                            (Zip Code)
executive office)

Issuers' telephone number, including area code: (419)  562-7055

Check  whether  the issuer  (1) has filed all  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.

Yes    X                                                    No      

As of November 12, 1998, the latest  practicable  date,  1,230,944 shares of the
registrant's common stock, $.01 par value, were issued and outstanding.










                               Page 1 of 15 pages

<PAGE>



                                      INDEX

                                                                         Page

PART I  - FINANCIAL INFORMATION

           Consolidated Statements of Financial Condition                    3

           Consolidated Statements of Earnings                               4

           Consolidated Statements of Cash Flows                             5

           Notes to Consolidated Financial Statements                        7

           Management's Discussion and Analysis of
           Financial Condition and Results of
           Operations                                                       10


PART II - OTHER INFORMATION                                                 14

SIGNATURES                                                                  15






























                                        2



<PAGE>

<TABLE>

                        Community Investors Bancorp, Inc.
<CAPTION>

                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

                        (In thousands, except share data)


                                                                                      September 30,            June 30,
         ASSETS                                                                                1998                1998
<S>                                                                                          <C>                    <C>
Cash and due from banks                                                                    $  1,812            $  1,279
Federal funds sold                                                                               84                 572
Interest-bearing deposits in other financial institutions                                     2,036                 942
                                                                                            -------             -------
         Cash and cash equivalents                                                            3,933               2,793

Investment securities available for sale - at market                                          5,478               5,485
Investment securities - at amortized cost, approximate market value of
  $5,543 and $7,317 as of  September 30, 1998 and June 30, 1998                               5,482               7,285
Mortgage-backed  securities available for sale - at market                                   10,178                  - 
Mortgage-backed securities - at amortized cost, approximate market value
  of $1,122 and $1,214 as of September 30, 1998 and June 30, 1998                             1,179               1,269
Loans receivable - net                                                                       85,150              83,574
Property acquired in settlement of loans                                                         30                  58
Office premises and equipment - at depreciated cost                                             633                 600
Federal Home Loan Bank stock - at cost                                                        1,294                 825
Accrued interest receivable on loans                                                            157                 114
Accrued interest receivable on mortgage-backed securities                                        63                   7
Accrued interest receivable on investments and interest-bearing deposits                        142                 233
Prepaid expenses and other assets                                                               115                 150
Deferred federal income taxes                                                                   119                 142
                                                                                            -------             -------

         Total assets                                                                      $113,953            $102,535
                                                                                            =======             =======

         LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits                                                                                   $ 77,475            $ 75,955
Advances from the Federal Home Loan Bank                                                     25,538              15,558
Advances by borrowers for taxes and insurance                                                     8                   5
Accrued interest payable                                                                        369                 342
Other liabilities                                                                               290                 226
Accrued federal income taxes                                                                    100                 106
                                                                                            -------             -------
         Total liabilities                                                                  103,780              92,192


Stockholders' equity
  Preferred stock, 1,000,000 shares authorized, no par value; no shares issued                   -                   - 
  Common stock, 4,000,000 shares authorized, $.01 par value; 1,107,171 shares issued             17                  17
  Additional paid-in capital                                                                  6,908               6,908
  Retained earnings, restricted                                                               7,899               7,742
  Shares acquired by stock benefit plans                                                       (759)               (759)
  Less 190,800 and 177,800 shares of treasury stock - at cost                                (3,885)             (3,551)
  Unrealized losses on securities designated as available for sale, net of
    related tax effects                                                                          (7)                (14)
                                                                                            -------             -------
         Total stockholders' equity                                                          10,173              10,343
                                                                                            -------            --------

         Total liabilities and stockholders' equity                                        $113,953            $102,535
                                                                                            =======             =======

</TABLE>



                                        3



<PAGE>

<TABLE>

                        Community Investors Bancorp, Inc.
<CAPTION>

                       CONSOLIDATED STATEMENTS OF EARNINGS

                 For the three month periods ended September 30,
                        (In thousands, except share data)


                                                                                               1998                1997
<S>                                                                                            <C>                <C>
Interest income
  Loans                                                                                      $1,730              $1,631
  Mortgage-backed securities                                                                     30                  23
  Investment securities                                                                         193                 162
  Interest-bearing deposits and other                                                            58                   3
                                                                                              -----               -----

         Total interest income                                                                2,010               1,819

Interest expense
  Deposits                                                                                      912                 884
  Borrowings                                                                                    255                 122
                                                                                              -----               -----

         Total interest expense                                                               1,167               1,006
                                                                                              -----               -----

         Net interest income                                                                    843                 813

Provision for losses on loans                                                                    26                   2
                                                                                              -----               -----

         Net interest income after provision
           for losses on loans                                                                  816                 811

Other income
  Gain on sale of other repossessed assets                                                       -                    2
  Other operating                                                                                57                  41
                                                                                              -----               -----

         Total other income                                                                      57                  43

General, administrative and other expense
  Employee compensation and benefits                                                            283                 239
  Occupancy and equipment                                                                        30                  32
  Federal deposit insurance premiums                                                             11                  11
  Franchise taxes                                                                                41                  39
  Expenses of property acquired in settlement of loans                                            4                   9
  Data processing                                                                                51                  43
  Other operating                                                                               104                 114
                                                                                              -----               -----

         Total general, administrative and other expense                                        525                 487
                                                                                              -----               -----

         Earnings before income taxes                                                           348                 367

Federal income taxes
  Current                                                                                        96                 121
  Deferred                                                                                       19                  10
                                                                                              -----               -----

         Total federal income taxes                                                             115                 131
                                                                                              -----               -----

         NET EARNINGS                                                                        $  233              $  236
                                                                                              =====               =====

         EARNINGS PER SHARE
           Basic                                                                               $.20                $.19
                                                                                                ===                 ===

           Diluted                                                                             $.19                $.18
                                                                                                ===                 ===

</TABLE>

                                        4


<PAGE>

<TABLE>

                        Community Investors Bancorp, Inc.
<CAPTION>

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                    For the three months ended September 30,
                                 (In thousands)


                                                                                                 1998              1997
<S>                                                                                              <C>                <C>
Cash flows from operating activities:
  Net earnings for the period                                                                 $   233            $  236
  Adjustments to reconcile net earnings to net cash
  provided by (used in) operating activities:
    Amortization of discounts and premiums on loans,
      investments and mortgage-backed securities - net                                            (12)               (4)
    Amortization of deferred loan origination fees                                                (58)              (48)
    Depreciation and amortization                                                                  11                 9
    Provision for losses on loans                                                                  26                 2
    Gain on sale of other repossessed assets                                                       -                 (2)
    Federal Home Loan Bank stock dividends                                                        (17)              (14)
    Increase (decrease) in cash due to changes in:
      Accrued interest receivable on loans                                                        (43)              (17)
      Accrued interest receivable on mortgage-backed securities                                   (56)                3
      Accrued interest receivable on investments and
        interest-bearing deposits                                                                  91               (23)
      Prepaid expenses and other assets                                                            35                59
      Accrued interest payable                                                                     27               (17)
      Other liabilities                                                                            64                36
      Federal income taxes
        Current                                                                                    (6)              124
        Deferred                                                                                   19                10
                                                                                               ------             -----
         Net cash provided by operating activities                                                314               354

Cash flows provided by (used in) investing activities:
  Proceeds from maturity of investment securities                                               1,828               200
  Purchase of investment securities designated as held to maturity                                 -               (500)
  Purchase of mortgage-backed securities designated as available for sale                     (10,178)               - 
  Principal repayments on mortgage-backed securities                                               90                60
  Loan principal repayments                                                                     7,304             3,837
  Loan disbursements                                                                           (8,816)           (6,515)
  Purchase of office premises and equipment                                                       (44)               (6)
  Proceeds from sale of other repossessed assets                                                   -                 33
  Purchase of Federal Home Loan Bank stock                                                       (452)               - 
                                                                                               ------             -----
         Net cash used in investing activities                                                (10,268)           (2,891)
                                                                                               ------             -----

         Net cash used in operating and investing
           activities (subtotal carried forward)                                               (9,954)           (2,537)
                                                                                               ------             -----

</TABLE>




                                        5


<PAGE>

<TABLE>

                        Community Investors Bancorp, Inc.
<CAPTION>

                CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

                    For the three months ended September 30,
                                 (In thousands)


                                                                                                 1998              1997
<S>                                                                                             <C>                 <C>
         Net cash used in operating and investing activities
           (subtotal brought forward)                                                         $(9,954)          $(2,537)

Cash flows provided by (used in) financing activities:
  Net increase in deposit accounts                                                              1,520             1,164
  Proceeds from Federal Home Loan Bank advances                                                12,000             7,300
  Repayment of Federal Home Loan Bank advances                                                 (2,020)           (6,571)
  Advances by borrowers for taxes and insurance                                                     3                 6
  Purchase of treasury stock                                                                     (334)             (185)
  Dividends on common stock                                                                       (75)              (79)
                                                                                               ------            ------
         Net cash provided by financing activities                                             11,094             1,635
                                                                                               ------            ------

Net increase (decrease) in cash and cash equivalents                                            1,140              (902)

Cash and cash equivalents at beginning of period                                                2,793             2,410
                                                                                               ------            ------

Cash and cash equivalents at end of period                                                    $ 3,933           $ 1,508
                                                                                               ======            ======


Supplemental  disclosure of cash flow  information:
  Cash paid during the period for:
    Federal income taxes                                                                      $   101           $    15
                                                                                               ======            ======

    Interest on deposits and borrowings                                                       $ 1,140           $ 1,023
                                                                                               ======            ======

Supplemental disclosure of noncash investing activities:
  Unrealized gains on securities designated as available for
    sale, net of related tax effects                                                          $     7           $    - 
                                                                                               ======            ======

</TABLE>














                                        6


<PAGE>


                        Community Investors Bancorp, Inc.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

             For the three months ended September 30, 1998 and 1997


    1.   Basis of Presentation

    The accompanying  unaudited  consolidated financial statements were prepared
    in  accordance  with  instructions  for Form 10-QSB and,  therefore,  do not
    include  information or footnotes  necessary for a complete  presentation of
    consolidated  financial  position,  results of operations  and cash flows in
    conformity with generally accepted accounting principles. Accordingly, these
    financial  statements  should be read in conjunction  with the  consolidated
    financial statements and notes thereto of Community Investors Bancorp,  Inc.
    (the  "Corporation")  included  in the Annual  Report on Form 10-KSB for the
    year  ended June 30,  1998.  However,  in the  opinion  of  management,  all
    adjustments  (consisting  of  only  normal  recurring  accruals)  which  are
    necessary  for a fair  presentation  of the financial  statements  have been
    included.  The  results  of  operations  for the three  month  period  ended
    September 30, 1998 are not  necessarily  indicative of the results which may
    be expected for an entire fiscal year.

    2.   Principles of Consolidation

    The accompanying  consolidated  financial statements include the accounts of
    the Corporation  and First Federal  Savings and Loan  Association of Bucyrus
    (the   "Association").   All  significant   intercompany   items  have  been
    eliminated.

    3.   Earnings Per Share

    Basic earnings per share is computed based upon the weighted-average  common
    shares  outstanding  during  the  period  less  shares  in the ESOP that are
    unallocated and not committed to be released. Weighted-average common shares
    deemed  outstanding,  which gives effect to 92,709  unallocated ESOP shares,
    totaled  1,162,787  for the three month  period  ended  September  30, 1998.
    Weighted-average  common  shares deemed  outstanding,  which gives effect to
    106,145  unallocated  ESOP  shares,  totaled  1,274,176  for the three month
    period ended September 30, 1997.

    Diluted  earnings  per share is computed  taking into  consideration  common
    shares  outstanding and dilutive  potential common shares to be issued under
    the Corporation's stock option plan.  Weighted-average  common shares deemed
    outstanding  for purposes of computing  diluted  earnings per share  totaled
    1,205,031 and 1,303,908 for the three month periods ended September 30, 1998
    and 1997, respectively.

    Weighted-average  common shares outstanding for the three month period ended
    September 30, 1997,  have been restated to give effect to the  Corporation's
    three-for-two stock split in fiscal 1998.







                                        7



<PAGE>


                        Community Investors Bancorp, Inc.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

             For the three months ended September 30, 1998 and 1997


    4.   Effects of Recent Accounting Pronouncements

    In June 1997, the Financial  Accounting  Standards Board (the "FASB") issued
    Statement of Financial  Accounting  Standards  ("SFAS") No. 130,  "Reporting
    Comprehensive  Income." SFAS No. 130 establishes standards for reporting and
    display of  comprehensive  income and its  components  (revenues,  expenses,
    gains and  losses) in a full set of  general-purpose  financial  statements.
    SFAS No. 130  requires  that all items that are  required  to be  recognized
    under accounting standards as components of comprehensive income be reported
    in a financial statement that is displayed with the same prominence as other
    financial  statements.  It does  not  require  a  specific  format  for that
    financial  statement  but  requires  that an  enterprise  display  an amount
    representing  total  comprehensive  income for the period in that  financial
    statement.

    SFAS  No.  130  requires  that an  enterprise  (a)  classify  items of other
    comprehensive  income  by their  nature  in a  financial  statement  and (b)
    display the accumulated  balance of other  comprehensive  income  separately
    from retained earnings and additional  paid-in capital in the equity section
    of a statement of financial  position.  SFAS No. 130 is effective for fiscal
    years  beginning  after  December  15, 1997.  Reclassification  of financial
    statements  for  earlier  periods  provided  for  comparative   purposes  is
    required.  Management  adopted  SFAS No.  130  effective  July 1,  1998,  as
    required, without material impact on the Corporation's financial statements.
    Comprehensive  income  totaled  $226,000  and  $222,000  for the three month
    periods ended September 30, 1998 and 1997,  respectively.  The components of
    other  comprehensive   income  consisted  solely  of  unrealized  losses  on
    securities  designated  as available  for sale,  net of related tax effects,
    totaling $7,000 and $14,000 for those respective periods.

    In June 1997, the FASB issued SFAS No. 131,  "Disclosures  about Segments of
    an Enterprise and Related  Information." SFAS No. 131 significantly  changes
    the way that public business  enterprises report information about operating
    segments in annual financial  statements and requires that those enterprises
    report selected  information about reportable  segments in interim financial
    reports issued to shareholders.  It also  establishes  standards for related
    disclosures  about  products  and  services,   geographic  areas  and  major
    customers.  SFAS No. 131 uses a "management  approach" to disclose financial
    and  descriptive  information  about the way that  management  organizes the
    segments within the enterprise for making operating  decisions and assessing
    performance.  For many  enterprises,  the  management  approach  will likely
    result in more segments being reported.  In addition,  SFAS No. 131 requires
    significantly  more information to be disclosed for each reportable  segment
    than is presently  being  reported in annual  financial  statements and also
    requires  that  selected   information  be  reported  in  interim  financial
    statements.  SFAS No. 131 is  effective  for fiscal  years  beginning  after
    December 15, 1997. SFAS No. 131 is not expected to have a material impact on
    the Corporation's financial statements.

    In June 1998,  the FASB  issued  SFAS No. 133,  "Accounting  for  Derivative
    Instruments and Hedging  Activities,"  which requires  entities to recognize
    all  derivatives  in  their   financial   statements  as  either  assets  or
    liabilities  measured at fair value. SFAS No. 133 also specifies new methods
    of  accounting   for  hedging   transactions,   prescribes   the  items  and
    transactions that may be hedged,  and specifies  detailed criteria to be met
    to qualify for hedge accounting.


                                        8


<PAGE>


                        Community Investors Bancorp, Inc.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

             For the three months ended September 30, 1998 and 1997


    4.   Effects of Recent Accounting Pronouncements (continued)

    The  definition  of a derivative  financial  instrument  is complex,  but in
    general,  it is an  instrument  with  one or  more  underlyings,  such as an
    interest  rate or  foreign  exchange  rate,  that is  applied  to a notional
    amount,  such  as  an  amount  of  currency,  to  determine  the  settlement
    amount(s).  It generally requires no significant  initial investment and can
    be settled  net or by delivery  of an asset that is readily  convertible  to
    cash.  SFAS No. 133  applies to  derivatives  embedded  in other  contracts,
    unless the  underlying  of the  embedded  derivative  is clearly and closely
    related to the host contract.

    SFAS No. 133 is effective for fiscal years beginning after June 15, 1999. On
    adoption,   entities  are  permitted  to  transfer   held-to-maturity   debt
    securities to the  available-for-sale  or trading  category  without calling
    into question their intent to hold other debt  securities to maturity in the
    future.  SFAS No.  133 is not  expected  to have a  material  impact  on the
    Corporation's financial statements.































                                        9



<PAGE>


                        Community Investors Bancorp, Inc.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS


Forward-Looking Statements

In addition to historical information contained herein, the following discussion
contains  forward-looking  statements  that  involve  risks  and  uncertainties.
Economic  circumstances,  the  Corporation's  operations  and the  Corporation's
actual  results  could  differ   significantly   from  those  discussed  in  the
forward-looking  statements.  Some of the factors that could cause or contribute
to such differences are discussed herein but also include changes in the economy
and interest rates in the nation and the Corporation's market area generally.

Some of the  forward-looking  statements  included  herein  are  the  statements
regarding management's determination of the amount and adequacy of the allowance
for  losses  on  loans,  the  effect  of the year  2000 on  certain  information
technology systems and the effect of certain recent accounting pronouncements.


Discussion of Financial Condition Changes from June 30, 1998 to September 30,
1998

At September 30, 1998,  the  Corporation's  assets totaled  $114.0  million,  an
increase of $11.4 million,  or 11.1%,  over the level reported at June 30, 1998.
The  increase  in assets  was funded  primarily  through  growth in the  deposit
portfolio  of $1.5  million,  combined  with an increase  in  advances  from the
Federal Home Loan Bank of $10.0 million.

Liquid assets (i.e. cash,  interest-bearing  deposits and investment securities)
decreased by $670,000 during the three month period, to a total of $14.9 million
at September 30, 1998, as  maturities  of  investment  securities  totaling $1.8
million  were  partially  offset  by a $1.1  million  increase  in cash and cash
equivalents.  Mortgage-backed  securities totaled $11.4 million at September 30,
1998, an increase of $10.1 million over June 30, 1998 levels. A  mortgage-backed
security  purchased of $10.2  million is backed by GNMA and bears  interest at a
rate of 6.875%.  The purchase was financed via a 5.00%  fixed-rate  advance from
the Federal Home Loan Bank. Regulatory liquidity amounted to 16.87% at September
30, 1998.

Loans  receivable  increased by $1.6  million,  or 1.9%,  during the three month
period,  to a total of $85.2 million at September 30, 1998.  Loan  disbursements
amounted to $8.8 million and were  partially  offset by principal  repayments of
$7.3  million.  The volume of loan  disbursements  during the three months ended
September  30, 1998,  remained  consistent  with the increased  volume  achieved
during the three months ended  September 30, 1997. The allowance for loan losses
totaled  $586,000 at  September  30,  1998,  as compared to $563,000 at June 30,
1998. Nonperforming loans totaled $817,000 at September 30, 1998, as compared to
$600,000 at June 30, 1998.  The allowance for loan losses  represented  71.7% of
nonperforming  loans  as of  September  30,  1998 and  93.8%  at June 30,  1998.
Although management believes that its allowance for loan losses at September 30,
1998, is adequate based upon the available facts and circumstances, there can be
no assurance  that  additions to such  allowance will not be necessary in future
periods, which could adversely affect the Corporation's results of operations.

Deposits  totaled  $77.5  million at  September  30,  1998,  an increase of $1.5
million, or 2.0%, over June 30, 1998 levels. Management continued its efforts to
achieve a moderate rate of growth through marketing and pricing strategies.


                                       10


<PAGE>


                        Community Investors Bancorp, Inc.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)


Discussion  of Financial  Condition  Changes from June 30, 1998 to September 30,
1998 (continued)

Advances  from the Federal Home Loan Bank totaled $25.5 million at September 30,
1998, an increase of $10.0  million,  or 64.1%,  over June 30, 1998 levels.  The
increase  resulted  primarily  from a $10.0  million  advance  used to fund  the
purchase of a mortgage-backed security, as previously discussed.

The Association is required to meet minimum capital standards promulgated by the
Office of Thrift  Supervision  (OTS).  At September 30, 1998, the  Association's
capital was well in excess of such minimum capital requirements.


Comparison of Operating Results for the Three Month Periods Ended September 30,
1998 and 1997

General

The  Corporation's  net  earnings  totaled  $233,000  for the three months ended
September  30,  1998,  a decrease of $3,000,  or 1.3%,  from the $236,000 of net
earnings reported for the same period in 1997. The decrease in earnings resulted
primarily from a $38,000 increase in general,  administrative and other expense,
which was partially offset by a $30,000 increase in net interest income.

Net Interest Income

Net interest  income  increased by $30,000,  or 3.7%, for the three months ended
September  30,  1998,  compared  to the 1997  period.  Interest  income on loans
increased by $99,000,  or 6.1%, due primarily to a $6.8 million  increase in the
average  net  portfolio  balance of loans  outstanding  year-to-year,  partially
offset by a decline in the average  yield.  Interest  income on  investment  and
mortgage-backed  securities and interest-bearing  deposits increased by $93,000,
or  49.5%,  due  primarily  to a  increase  in  the  average  portfolio  balance
outstanding.

Interest expense on deposits  increased by $28,000,  or 3.2%, due primarily to a
$3.6 million increase in the average balance of deposits outstanding,  which was
partially  offset by a decline in the cost of  deposits  year-to-year.  Interest
expense on  borrowings  increased by $133,000,  due primarily to a $11.0 million
increase in the weighted-average  balance of advances from the Federal Home Loan
Bank outstanding.








                                       11


<PAGE>


                        Community Investors Bancorp, Inc.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)


Comparison of Operating  Results for the Three Month Periods Ended September 30,
1998 and 1997 (continued)

Net Interest Income (continued)

As a result of the foregoing  changes in interest  income and interest  expense,
net interest  income  increased by $30,000,  or 3.7%, to a total of $843,000 for
the three months ended  September 30, 1998. The interest rate spread amounted to
approximately  2.83% in the 1998 three month period, as compared to 3.08% during
the 1997 period,  while the net interest margin totaled  approximately  3.22% in
1998, as compared to 3.58% in 1997.

Provision for Losses on Loans

A  provision  for  losses on loans is  charged  to  earnings  to bring the total
allowance for loan losses to a level considered  appropriate by management based
on  historical  experience,  the  volume and type of  lending  conducted  by the
Association,  the status of past due  principal and interest  payments,  general
economic conditions, particularly as such conditions relate to the Association's
market  area,  and  other  factors   related  to  the   collectibility   of  the
Association's loan portfolio. As a result of such analysis,  management recorded
a $26,000  provision  for losses on loans  during the three month  period  ended
September  30,  1998,  an increase of $24,000 over the  comparable  1997 period.
There can be no assurance that the loan loss allowance of the  Association  will
be adequate to cover losses on nonperforming assets in the future.

Other Income

Other  income  increased  by  $14,000,  or  32.6%,  for the three  months  ended
September  30, 1998,  compared to the same period in 1997,  due  primarily to an
increase in service fees on deposit accounts and transactions.

General, Administrative and Other Expense

General,  administrative and other expense increased by $38,000, or 7.8%, during
the three months ended September 30, 1998,  compared to the same period in 1997.
This increase resulted primarily from a $44,000, or 18.4%,  increase in employee
compensation  and benefits,  which was partially offset by a $10,000 decrease in
other operating  expenses.  The increase in employee  compensation  and benefits
resulted  primarily from increased  staffing  levels year to year,  coupled with
increased costs attendant to stock benefit plans and normal merit increases.

Federal Income Taxes

The provision for federal income taxes decreased by $16,000,  or 12.2%,  for the
three months ended  September  30, 1998, as compared to the same period in 1997.
This decrease resulted  primarily from the decrease in net earnings before taxes
of $19,000,  or 5.2%. The effective tax rates were 33.0% and 35.7% for the three
months ended September 30, 1998 and 1997, respectively.


                                       12



<PAGE>


                        Community Investors Bancorp, Inc.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)


Year 2000 Compliance Matters

As with all providers of financial  services,  the Association's  operations are
heavily  dependent  on  information   technology  systems.  The  Association  is
addressing  the potential  problems  associated  with the  possibility  that the
computers  that  control  or  operate  the  information  technology  system  and
infrastructure  may not be  programmed to read  four-digit  date codes and, upon
arrival of the year 2000,  may  recognize  the  two-digit  code "00" as the year
1900, causing systems to fail to function or to generate erroneous data.

As part of the awareness and assessment phases of its action plan related to the
Year 2000 problem,  the  Association  identified  the operating  systems that is
considers  critical  to  the  on-going  operations  of  the  Asssociation.   The
Association  is working with  companies  that supply or service its  information
technology systems to remedy any year 2000 problems.

Of the systems that the  Association  identified as  mission-critical,  the most
significant is the on-line core account processing system that is performed by a
third party service provider,  Intrieve, Inc. The service provider is converting
its hardware to a new Year 2000 compliant system.  The Association's  conversion
to this new system will be completed during the fourth calendar quarter of 1998.
The service provider successfully performed Year 2000 proxy testing with several
of its larger users during early October 1998.  The  Association is scheduled to
perform  final  customer  testing,  which is designed to test the  Association's
unique equipment  configuration and communications link to the service provider,
prior to December 31, 1998.

The  Association has developed a contingency  plan in case the  mission-critical
systems are not  successfully  renovated in a timely  manner or if they actually
fail at  Year  2000  critical  dates.  The  contingency  plan  states  that  the
Association deems the likelihood of failure of the service provider's efforts to
renovate Year 2000 changes to the on-line core account  processing  system to be
remote;  however,  a more likely scenario is that the service  provider's system
will be down for  several  days or weeks upon  arrival  of Year 2000.  The plan,
therefore, primarily addresses action to deal with the latter possibility rather
than with a catastrophic  event. The Association  does not consider  contingency
planning to be a static process;  therefore, the plan will be amended to address
a catastrophic event if testing results indicate greater concern.

Management  of the  Association  has  developed an estimate of expenses that are
reasonably  likely to be incurred by the  Association  in  connection  with this
issue;  however, the Association does not expect to incur significant expense to
implement the necessary corrective measures. No assurance can be given, however,
that  significant  expense will not be incurred in future periods.  In the event
that the  Association is ultimately  required to purchase  replacement  computer
systems,  programs  and  equipment,  or incur  substantial  expense  to make the
Association's current systems,  programs and equipment Year 2000 compliant,  the
Association's net earnings and financial condition could be adversely affected.

In addition to possible  expense  related to its own  systems,  the  Association
could  incur  losses if loan  payments  are  delayed  due to Year 2000  problems
affecting any major borrowers in the Association's  primary market area. Because
the Association's loan portfolio is highly diversified with regard to individual
borrowers and types of businesses and the  Association's  primary market area is
not significantly  dependent upon one employer or industry, the Association does
not  expect any  significant  or  prolonged  difficulties  that will  affect net
earnings or cash flow.

                                       13


<PAGE>


                        Community Investors Bancorp, Inc.

                                     PART II


ITEM 1.  Legal Proceedings

          Not applicable


ITEM 2.  Changes in Securities and Use of Proceeds

          Not applicable


ITEM 3.  Defaults Upon Senior Securities

          Not applicable


ITEM 4.  Submission of Matters to a Vote of Security Holders

          On  October  26,  1998,  the  Annual  Meeting  of  the   Corporation's
          Stockholders was held. Four directors  nominated were elected to terms
          expiring in two years by the following votes.

          John W. Kennedy          For:  1,083,185            Withhold:    112

          David M. Auck            For:  1,082,943            Withhold:    354

          Philip E. Harris         For:  1,082,623            Withhold:    674

          John D. Mizick           For:  1,078,685            Withhold:  4,612

          One other  matter was  submitted  to the  stockholders,  for which the
          following votes were cast:

          Ratification  of the  appointment of Grant Thornton LLP as independent
          auditors of the Corporation for the fiscal year ended June 30, 1999.

          For:  1,079,643           Against:  450               Abstain:  3,204


ITEM 5.  Other Information

          None


ITEM 6.  Exhibits and Reports on Form 8-K

         Reports on Form 8-K:                  None.

         Exhibits:
           27.1:                               Financial Data Schedule  for  the
                                               three months ended September 30,
                                               1998.

           27.2:                               Restated Financial Data Schedule
                                               for the  three  months ended
                                               September 30, 1997.


                                       14


<PAGE>



                        Community Investors Bancorp, Inc.

                                   SIGNATURES


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





Date:    November 12, 1998             By:  /s/John W. Kennedy          
     -------------------------              ----------------------------
                                              John W. Kennedy
                                              President and Chief
                                              Executive Officer



Date:    November 12, 1998             By:  /s/Robert W. Siegel         
     -------------------------              ----------------------------
                                              Robert W. Siegel
                                              Assistant Vice President
                                              and Controller































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