SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549



---

FORM 10-QSB

|[X]   |  | QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE                            SECURITIES EXCHANGE ACT OF 1934
|----- |  | ------------------------------------------------------------------------------------------------------------
|      |  | For the quarterly period ended September 30, 2001                                                           
|[   ] |  | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE                                   EXCHANGE ACT           
|      |  | For the transition period from ______ to ________                                                           

Commission file number 0-25070.

**LSB FINANCIAL CORP.**
(Exact Name of Small Business Issuer as Specified in its Charter)

|Indiana(State or other jurisdiction ofIncorporation or organization)        |  | 35-1934975(I.R.S. EmployerIdentification No.)
|--------------------------------------------------------------------------- |  | ---------------------------------------------
|101 Main Street, Lafayette, Indiana(Address or principal executive offices) |  | 47902(Zip Code)                              

Issuer's telephone number, including area code: (765) 742-1064

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:

|CLASS                                  |  | OUTSTANDING AT OCTOBER 31, 2001
|-------------------------------------- |  | -------------------------------
|Common stock, par value $.01 per share |  | 1,380,846                      

Transitional Small Business Disclosure Format:   YES [  ]   NO [X]

LSB FINANCIAL CORP.

INDEX

|PART I.                                                    | FINANCIAL INFORMATION                               | 1    
|---------------------------------------------------------- | --------------------------------------------------- | -----
|Item 1.                                                    | Financial Statements                                | 1    
|Consolidated Statements of Financial Condition             | 1                                                  
|Consolidated Statements of Income                          | 2                                                  
|Consolidated Statements of Changes in Shareholders' Equity | 3                                                  
|Consolidated Statements of Cash Flow                       | 4                                                  
|Notes to Consolidated Financial Statements                 | 5                                                  
|Item 2.                                                    | Management's Discussion of Recent Operating Results | 6-10 
|PART II.                                                   | OTHER INFORMATION                                   | 11-12
|                                                           | SIGNATURES                                          | 13   
|                                                           | EXHIBIT INDEX                                       | 14   

|LSB FINANCIAL CORP.CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION(Dollars in thousands)
|---------------------------------------------------------------------------------------
|                                                                                       
|                                                                                       
|                                                                                       
|Assets                                                                                 
|                                                                                       
|Cash and due from banks                                                                
|Short-term investments                                                                 
|Available-for-sale securities                                                          
|Loans held for sale                                                                    
|Portfolio loans                                                                        
|Less: Allowance for loan losses                                                        
|Net portfolio loans                                                                    
|                                                                                       
|Premises and equipment, net                                                            
|FHLB stock, at cost                                                                    
|Accrued interest receivable and other assets                                           
|Total Assets                                                                           
|                                                                                       
|Liabilities and Shareholders' Equity:                                                  
|                                                                                       
|Liabilities                                                                            
|Deposits                                                                               
|Advances from FHLB                                                                     
|Note payable                                                                           
|Accrued interest payable and other liabilities                                         
|Total liabilities                                                                      
|                                                                                       
|                                                                                       
|Shareholders' Equity:                                                                  
|Common stock                                                                           
|Additional paid-in-capital                                                             
|Retained earnings                                                                      
|Unearned ESOP shares                                                                   
|Unamortized cost of recognition and retention plan                                     
|Accumulated other comprehensive income                                                 
|Total shareholders' equity                                                             
|Total liabilities and shareholders' equity                                             
|                                                                                       
|                                                                                       
|                                                                                       
|See accompanying notes                                                                 

|LSB FINANCIAL CORP.
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)(unaudited)
|--------------------------------------------------------------------------------------------------------------
|                                                                                                              
|                                                                                                              
|Interest Income                                                                                               
|Loans, including related fees                                                                                 
|Available-for-sale securities                                                                                 
|FHLB stock                                                                                                    
|Total interest income                                                                                         
|Interest Expense                                                                                              
|Deposits                                                                                                      
|Borrowings                                                                                                    
|Total interest expense                                                                                        
|Net interest income                                                                                           
|Provision for loan losses                                                                                     
|Net interest income after provision for loan losses                                                           
|Non-interest Income                                                                                           
|Service charges and fees                                                                                      
|Net gain on mortgage loans originated for sale                                                                
|Other                                                                                                         
|Total non-interest income                                                                                     
|Non-interest Expense                                                                                          
|Salaries and benefits                                                                                         
|Occupancy and equipment, net                                                                                  
|Computer service                                                                                              
|Advertising                                                                                                   
|Other                                                                                                         
|Total non-interest expense                                                                                    
|Income before income taxes                                                                                    
|Less: income taxes                                                                                            
|Net income                                                                                                    
|Earnings per share (Note 3)                                                                                   
|Diluted Earnings per share                                                                                    
|Book value per share                                                                                          
|See accompanying notes                                                                                        

|LSB FINANCIAL CORP.
CONSOLIDATED STATEMENTS OF CHANGES
IN SHAREHOLDERS' EQUITY
(Dollars in thousands)
|-----------------------------------------------------------------------------------------------------
|                                                                                                     
|Balance at January 1, 2000                                                                           
|Exercise of stock options                                                                            
|ESOP shares earned                                                                                   
|Issuance of common stock for RRP                                                                     
|RRP expense                                                                                          
|Retired RRP shares                                                                                   
|Dividends paid                                                                                       
|Comprehensive income                                                                                 
|Net income                                                                                           
|Change in unrealized gain/(loss)                                                                     
|Total comprehensive income                                                                           
|                                                                                                     
|Balance at September 30, 2000                                                                        
|                                                                                                     
|                                                                                                     
|                                                                                                     
|Balance at January 1, 2001                                                                           
|Exercise of stock options                                                                            
|ESOP shares earned                                                                                   
|Issuance of common stock for RRP                                                                     
|RRP expense                                                                                          
|Retired RRP shares                                                                                   
|Treasury stock acquired and retired                                                                  
|Dividends paid                                                                                       
|Comprehensive income                                                                                 
|Net income                                                                                           
|Change in unrealized gain/(loss)                                                                     
|Total comprehensive income                                                                           
|                                                                                                     
|Balance at September 30, 2001                                                                        
|                                                                                                     

|LSB FINANCIAL CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
|--------------------------------------------------------------------------------
|                                                                                
|                                                                                
|                                                                                
|Cash Flows from Operating Activities                                            
|Net Income                                                                      
|Adjustments to reconcile net income to net  cash from operating activities      
|Depreciation and amortization                                                   
|Net amortization/(accretion) on securities                                      
|Gain on sale of loans                                                           
|Loans originated for sale, net of sales proceeds                                
|Provisions for loan losses                                                      
|Employee stock ownership plan shares earned                                     
|Change in assets and liabilities                                                
|Accrued interest receivable                                                     
|Other assets                                                                    
|Accrued interest payable                                                        
|Other liabilities                                                               
|Net cash from operating activities                                              
|                                                                                
|Cash Flows from Investing Activities                                            
|Purchases of available-for-sale securities                                      
|Proceeds from paydowns and maturities of  available-for-sale securities         
|Sales of available-for-sale securities                                          
|Purchase of Federal Home Loan Bank stock                                        
|Loans made to customers net of payments received                                
|Property and equipment expenditures                                             
|Net cash from investing activities                                              
|                                                                                
|Cash Flows from Financing Activities                                            
|Net change in deposits                                                          
|Proceeds from Federal Home Loan Bank advances                                   
|Payments on Federal Home Loan Bank advances                                     
|Payments on note payable                                                        
|Treasury Stock Purchased                                                        
|Dividends paid                                                                  
|Stock options exercised                                                         
|Net cash from financing activities                                              
|                                                                                
|Net change in cash and equivalents                                              
|Cash and equivalents at January 1                                               
|                                                                                
|Cash and equivalents at September 30                                            
|                                                                                
|See accompanying notes                                                          

LSB FINANCIAL CORP.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2001

Note 1 - General

The financial statements were prepared in accordance with the instructions for Form 10-QSB and,
therefore, do not include all of the disclosures necessary for a complete presentation of financial
position, results of operations and cash flows in conformity with generally accepted accounting
principles.  These interim financial statements have been prepared on a basis consistent with the
annual financial statements and include, in the opinion of management, all adjustments, consisting
of only normal recurring adjustments, necessary for a fair presentation of the results of operations
and financial position for and at the end of such interim periods.

Note 2 - Principles of Consolidation

The accompanying financial statements include the accounts of LSB Financial Corp., its wholly
owned subsidiary Lafayette Savings Bank, FSB, and Lafayette Savings' wholly owned subsidiaries,
LSB Service Corporation and Lafayette Insurance and Investments, Inc.  All significant
intercompany transactions have been eliminated upon consolidation.

Note 3 - Earnings per share

Earnings per share are based upon the weighted average number of shares outstanding during the
period.  Diluted earnings per share further assume the issuance of any potentially dilutive shares.
Unearned ESOP shares are not considered to be outstanding for the earnings per share computation.
The following table presents information about the number of shares used to compute earnings per
share and the results of the computations:

|                                                                      | **Quarter ended September 30,** | **Year-to-Date September 30,**
|--------------------------------------------------------------------- | ------------------------------- | ------------------------------
|                                                                      | **2001**                        | **2000**                      
|Weighted average shares outstanding  (excluding unearned ESOP shares) | 1,336,842                       | 1,329,192                     
|Shares used to compute diluted  earnings per share                    | 1,366,448                       | 1,355,826                     
|Earnings per share                                                    | $0.42                           | $0.39                         
|Diluted earnings per share                                            | $0.41                           | $0.38                         

**MANAGEMENT'S DISCUSSION OF RECENT OPERATING RESULTS**

All references in this quarterly report to "we," "us," "our," and the "Company" refer to LSB
Financial Corp. and/or Lafayette Savings Bank, FSB, as the context requires.

**Financial Condition**

***Comparison of Financial Condition at September 30, 2001 and December 31, 2000.***

Our total assets increased $8.2 million during the nine months from December 31, 2000 to
September 30, 2001. This increase was primarily due to a $5.6 million increase in short-term
investments and a $2.0 million increase in cash and due from banks.  Total loans, including loans held
for sale, decreased by $360,000 as continuing low interest rates increased the number of borrowers
refinancing to fixed rate loan  products which we sell on the secondary market as part of our interest
rate risk strategy.  The increase in investments was funded by a $9.1 million increase in deposits
which management attributes to ongoing marketing efforts and to the appeal of the safety of bank
deposits to investors with funds in more volatile non-deposit investment products.  Advances from
the  Federal Home Loan Bank decreased by $3.0 million as maturities were allowed to roll off.  Non-performing and restructured loans increased from $984,000 at December 31, 2000 to $3.2 million
at September 30, 2001 due to a general slowdown of the economy.  Non-performing and restructured
loans at September 30, 2001 consisted of $2.1 million in loans on residential real estate, $1.0 million
in loans on other real estate and $96,000 in non-mortgage related loans.   Shareholders' equity
increased from $21.8 million at December 31, 2000 to $23.2 million at September 30, 2001, an
increase of  $1.4 million due primarily to net income partially offset by the payment of a cash
dividend.

**Results of Operations**

***Comparison of Operating Results for the Nine Months and the Quarter Ended September 30, 2000 and September 30, 2001.***

***General.***   Net income for the nine months ended September 30, 2001 was $1.6 million, an
increase of $95,000, or 6.20%, over the nine months ended September 30, 2000.   This increase was
due primarily to a $383,000 increase in non-interest income partially offset by a $171,000 increase
in non-interest expense and a $103,000 decrease in net interest income.  Net income for the third
quarter of 2001 was $562,000, an increase of $49,000 from the same period in 2000.  The increase
in net income for this quarter was due primarily to a $150,000 increase in non interest income and
a $44,000 decrease in non-interest expense, offset by a $118,000 decrease in net interest income and
a $27,000 increase in income taxes.

***Net Interest Income.***   Net interest income for the nine months ended September 30, 2001 was
$6.2 million, a decrease of $103,000, or 1.60%, compared to the same period in 2000.  Net interest
income for the third quarter of 2001 decreased $118,000, or 5.43%, compared to the same period
in 2000.  These changes were primarily due to a decrease in net interest margin (net interest income
divided by average interest-earning assets) from 3.37% for the nine months ended September 30,
2000 to 3.05% for the nine months ended September 30, 2001.  In addition, during the third quarter
of 2000, we received a recovery on income of approximately $95,000 related to a problem loan.

Interest income on loans increased $1.1 million or 7.61% for the nine months ended
September 30, 2001 compared to the same nine months in 2000, primarily the result of an increase
of $16.5 million in the average balance of loans outstanding during the period and an increase in the
average yield on loans from 8.25% to 8.29% over the same period.  This increase in average balances
was primarily due to consistent growth in the residential real estate market through 2000 resulting
from a strong local economy with the portfolio balances maintained in 2001,  and a continuing focus
on commercial and consumer loan production.  The increase in average yield came in spite of the
decline in long-term interest rates in the economy beginning in mid-2000 as many loans were added
to the portfolio early in 2000 when rates were comparatively high, and also because the falling rates
prompted some borrowers to refinance existing mortgages, often to a fixed rate mortgage loan.
When borrowers refinance to a fixed rate product, we typically sell such lower rate loans in the
secondary market.  Interest income on loans increased $46,000 for the third quarter of 2001
compared to the third quarter of 2000 due primarily to an $8.3 million increase in average loans offset
by a decrease in the average yield on loans from 8.39% to 8.18% over the same period.

Interest earned on other investments and Federal Home Loan Bank stock increased by
$16,000 for the nine months ended September 30, 2001 compared to the same period in 2000. This
was the result of an overall $5.1 million increase in the average balance of other investments and
Federal Home Loan Bank stock, largely offset by a decrease in the average yield earned on these
investments from 5.15% for the first nine months of 2000 to 4.28% over the same period in 2001.
The yield decrease was generally due to falling short-term interest rates coupled with the increase in
short-term investments used to facilitate the funding and sale of fixed rate mortgages. Interest income
on other investments and Federal Home Loan Bank stock decreased $33,000 for the third quarter of
2001 compared to the third quarter of 2000 due to a $6.4 million increase in the average balance of
other investments and Federal Home Loan Bank stock, offset by lower rates.

Interest expense for the nine months ended September 30, 2001 increased $1.2 million over
the same period in 2000.  This increase was primarily due to an increase of $21.3 million in average
interest-bearing liabilities, consisting of an additional $15.3 million in the average balance of customer
deposit accounts and a $6.0 million increase in the average balance of  Federal Home Loan Bank
advances drawn to fund loan demand primarily in the last nine months of 2000.  The average rate paid
on interest bearing liabilities increased from 4.83% for the first nine months of 2000 to 5.05% for the
same period in 2001.  Interest expense increased $131,000 for the third quarter of 2001 over the same
period in 2000 primarily due to a $15.2 million increase in average interest-bearing liabilities offset
by a decrease in the average rate paid from 5.05% for the three month period in 2000 to 4.96% for
the same period in 2001.

***Provision for Loan Losses.***   We establish our provision for loan losses based on a systematic
analysis of risk factors in the loan portfolio.  The analysis includes evaluation of concentration of
credit, past loss experience, current economic conditions, the amount and composition of the loan
portfolio, estimated fair value of the underlying collateral, loan commitments outstanding,
delinquencies and industry standards.  From time to time, management

also uses the services of a
consultant to assist in the evaluation of its growing multi-family and commercial real estate loan
portfolio.  Management's analysis results in allocation of allowance amounts to each loan type. We
recorded a $108,000 provision for loan losses during the first nine months of both 2001 and 2000 as
a result of analyzing our current loan portfolios.  There were $3.2 million of non-performing or
restructured loans at September 30, 2001 compared to $432,000 of non-performing or restructured loans at September 30, 2000.  The $3.2 million in non-performing loans at September 30, 2001 were
comprised of $2.1 million in loans on residential real estate, $1.0 million in loans on other real estate
and $96,000 in non-mortgage related loans.  The increase in non-performing loans can be attributed
to the general slowdown in the economy.  While the diversity of employment in our market area
serves to buffer us from the effects of slowdowns, there are often specific industries that are harder
hit than others.  The increase in the local unemployment rate from 2.3% in December, 2000 to 2.8%
in September 2001, would support this conclusion.  At September 30, 2001, our allowance equaled
$1.1 million or 0.40% of net loans receivable compared to 0.41% at September 30, 2000.  Although
we maintain our allowance for loan losses at a level we consider to be adequate to provide for losses,
there can be no assurance that future losses will not exceed estimated amounts or that additional
provisions for loan losses will not be required in future periods.

***Non-Interest Income.***   Non-interest income for the nine months ended September 30, 2001
increased by $383,000, or 40.49%, compared to the same period in 2000.  This was primarily due
to a $297,000 increase in the gain on the sale of mortgage loans in the secondary market as a result
of the increased sales activity and a $142,000 increase in service charges and fees on deposit
accounts due to the increased number of these accounts, partially offset by a decrease of $56,000
in fees on various debit and credit card products and other services.  Non-interest income for the
third quarter of 2001 increased by $150,000, or 44.64% over the same period in 2000, due to the
same reasons set forth above.

***Non-Interest Expense.***   Non-interest expense for the nine months ended September 30, 2001
increased $171,000 over the same period in 2000 due primarily to a $220,000 increase in salaries
and benefits and a $72,000 increase in other non-interest expenses, partially offset by a $138,000
decrease in occupancy and equipment expenses.  The increase in salaries and benefits included
merit increases and costs related to the hiring of a senior executive in anticipation of the expected
retirement of the Company's and the Bank's current CEO, and an increase in full-time equivalents
due to the opening of a new branch in April 2001.  The decrease in occupancy and equipment
expense resulted substantially from finalizing the expected useful life and estimated depreciation
expense related to significant construction and renovation projects in 2000 and 2001.  Non-interest
expense for the third quarter of 2001 decreased by $44,000 over the same period in 2000, affected
by the matters mentioned above.

***Income Tax Expense.***   The Company's income tax provision increased by $14,000 for the
nine months ended September 30, 2001, compared to the same period in 2000, and increased $27,000
for the third quarter of 2001 compared to the same period  in 2000.  These changes were driven by
changes in income before tax offset by a slightly lower effective tax rate in 2001, compared to 2000.

***Liquidity.***   Liquidity management is both a daily and long-term function for our senior
management. We adjust our investment strategy, within the limits established by the investment
policy, based upon assessments of expected loan demand, expected cash flows, Federal Home Loan
Bank advance opportunities, market yields and objectives of our asset/liability management program.
Base levels of liquidity have generally been invested in interest-earning overnight and time deposits
with the Federal Home Loan Bank of Indianapolis.  Funds for which a demand is not foreseen in the
near future are invested in investment and other securities for the purpose of yield enhancement and
asset/liability management.

Our current internal policy for liquidity is 6% to 8%. Our liquidity ratios at December 31,
2000 and September 30, 2001 were 7.31% and 11.35%, respectively. We expect the liquidity level to
decline as short-term investment are used to repay  Federal Home Loan Bank advances or are used
to fund loans or longer term deposits.

***Capital Resources.***   Shareholders' equity totaled $23.2 million at September 30, 2001 compared
to $21.8 million at December 31, 2000, an increase of $1.4 million or 6.10%, due largely to net income of $1.6
million, offset by $403,000 of cash dividends paid to shareholders.

Federal regulations require Lafayette Savings Bank to maintain certain minimum levels of
regulatory capital.  The regulations currently require that core capital be at least 4.0% of total assets,
and that risk based capital be at least 8.0% of risk-based assets.  At September 30, 2001 our capital ratios
were as follows:

|                   | Amount(000) | Percent ofApplicableAssets
|------------------ | ----------- | --------------------------
|Tangible Capital   | $22,091     | 7.62%                     
|Requirement        | $4,350      | 1.50%                     
|Excess             | $17,741     | 6.12%                     
|                   |             |                           
|Core capital       | $22,091     | 7.62%                     
|Requirement        | $11,600     | 4.00%                     
|Excess             | $10,491     | 3.62%                     
|                   |             |                           
|Risk-based capital | $23,196     | 11.37%                    
|Requirement        | $16,314     | 8.00%                     
|Excess             | $6,882      | 3.37%                     

**REGARDING FORWARD-LOOKING STATEMENTS**

This document, including information included or incorporated by reference, contains, and
future filings by LSB Financial on Form 10-KSB, Form 10-QSB and Form 8-K and future oral and
written statements by LSB Financial and our management may contain, forward-looking statements
about LSB Financial and its subsidiaries which we believe are within the meaning of the Private
Securities Litigation Reform Act of 1995.  These forward-looking statements include, without
limitation, statements with respect to anticipated future operating and financial performance, growth
opportunities, interest rates, cost savings and funding advantages expected or anticipated to be
realized by management.  Words such as  "may", "could", "should", "would", "believe",
"anticipate", "estimate", "expect", "intend", "plan" and similar expressions are intended to identify
forward-looking statements.  Forward-looking statements by LSB Financial and its management are
based on beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions of
management and are not guarantees of future performance.  We disclaim any obligation to update
or revise any forward-looking statements based on the occurrence of future events, the receipt of new
information or otherwise.  The important factors we discuss below and elsewhere in this document,
as well as other factors discussed under the caption "Management's Discussion of Recent Operating
Results" in this document and identified in our filings with the SEC and those presented elsewhere
by our management from time to time, could cause actual results to differ materially from those
indicated by the forward-looking statements made in this document:

The following factors, many of which are subject to change based on various other factors
beyond our control, could cause our financial performance to differ materially from the plans,
objectives, expectations, estimates and intentions expressed in such forward-looking statements:

- the economic impact of the terrorist attacks, and the response of the United States to those attacks;
- the strength of the United States economy in general and the strength of the local
economies in which we conduct our operations;
- the effects of, and changes in, trade, monetary and fiscal policies and laws; including
interest rate policies of the Federal Reserve Board;
- inflation, interest rate, market and monetary fluctuations;
- the timely development of and acceptance of our new products and services of
Lafayette Savings and the perceived overall value of these products and services by
users, including the features, pricing and quality compared to competitors' products
and services;
- the willingness of users to substitute our products and services for the products and
services of our competitors;
- the  success of Lafayette Savings in gaining regulatory approval of its products and
services, when required;
- the impact of changes in financial services' laws and regulations (including laws
concerning taxes, banking, securities and insurance);
- the impact of technological changes;
- acquisitions;
- changes in consumer spending and saving habits; and
- our success at managing the risks involved in the foregoing.

**PART II - OTHER INFORMATION**

Item 1.  LEGAL PROCEEDINGS

The Company, from time to time, is involved as plaintiff or defendant in various legal actions arising in the normal course of business.  While the ultimate outcome of these proceedings cannot be predicted with certainty, it is the opinion of management, after consultation with counsel representing the Company in the proceedings, that the resolution of any prior and pending proceedings should not have a material effect on the Company or the Bank's financial condition or results of operations.

Item 2.  CHANGES IN SECURITIES

None.

Item 3.  DEFAULTS UPON SENIOR SECURITIES

None.

Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

Item 5. OTHER INFORMATION

On September 17, 2001, Mr. Randolph Williams was appointed President of LSB Financial Corp, and
its wholly-owned subsidiary, Lafayette Savings Bank, FSB, replacing Mr. Corey who is expected to
retire effective December 31, 2001.  Commencing on January 1, 2002, Mr. Williams will also serve
as the Chief Executive Officer of LSB Financial Corp. and Lafayette Savings Bank.  Mr. Corey will
continue to serve as Chief Executive Officer of LSB Financial Corp. and Lafayette Savings Bank until
his retirement.

Item 6. EXHIBITS AND REPORTS ON FORM 8-K

(a)   Exhibits:

See Exhibit Index.

(b)   Reports on Form 8-K

None.

**SIGNATURES**

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

|                        | LSB FINANCIAL CORP.       (Registrant)                                               
|----------------------- | -------------------------------------------------------------------------------------
|Date November 13, 2001  | /s/ Randolph F. WilliamsRandolph F. Williams, President(Principal Executive Officer) 
|Date November 13,  2001 | /s/ Mary Jo DavidMary Jo David, Treasurer(Principal Financial and Accounting Officer)

******INDEX TO EXHIBITS**

|RegulationS-K ExhibitNumber | Document                                                                                                                                                                                                                                 
|--------------------------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|3                           | Articles of Incorporation and Bylaws, filed on September 21, 1994 as exhibits to
Registrant's Registration Statement on Form S-1 (File No. 33-84266), are
incorporated by reference.                                                     
|4                           | Registrant's Specimen Stock Certificate, filed on September 21, 1994 as exhibits
to Registrant's Registration Statement on Form S-1 (File No. 33-84266), is
incorporated by reference.                                                   
|10.1                        | Registrant's 1995 Stock Option and Incentive Plan, filed on July 11, 1995 as
Appendix A to  Registrant's  Proxy Statement on Schedule 14A (File No. 0-25070), is incorporated herein by reference.                                       
|10.2                        | Severance Agreement by and between the Registrant's operating subsidiary and
John W. Corey, filed on September 21, 1994 as exhibits to Registrant's
Registration Statement on Form S-1 (File No. 33-84266), is incorporated by
reference.
|10.3                        | Registrant's 1995 Recognition and Retention Plan, filed on July 11, 1995 as
Appendix B to  Registrant's  Proxy Statement on Schedule 14A (File No. 0-25070), is incorporated herein by reference.                                        
|10.4                        | Employment Agreement dated September 28, 2001, by and between LSB Financial Corp. and Randolph F. Williams.                                                                                                                              
|11                          | Statement re computation of per share earnings