UNITED STATES
SECURITY AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 10-QSB

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

For the quarterly period ended March 31, 1997	
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 Number: 0-24896

Home Building Bancorp, Inc.			
(Exact name of registrant as specified in its charter)

Indiana						
(State or other jurisdiction of incorporation or organization)

35-1935840	
(I.R.S. Employer identification No.)

200 East VanTrees Street, Washington, Indiana	  47501	 
(Address of principal executive offices)	(Zip Code)

(812) 254-2641			
(Registrant's telephone number, including area code)

	N/A	
(Former name, former address and former fiscal year, if changed since last 
report)

Indicate by check mark whether the registrant (1) has filed all reports 
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 
1934 during the preceding 12 months (or shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
for the past 90 days.   {X}Yes      {  } No

As of May 14, 1997 there were 331,660 shares of the Registrant's common stock 
issued and outstanding.  Indicate the number of shares outstanding of each of
the issuer's classes of common stock as of the latest practicable date.

Transitional Small Business Disclosure Format (check one):
{ } Yes          {X} No  


<PAGE>

HOME BUILDING BANCORP, INC.

INDEX


Part I. Financial Information	Page

	Item 1. Financial Statements

	Consolidated Statements of Financial Condition at March 31, 1997    	1
	and September 30, 1996

	Consolidated Statements of Income for the three and six months 	
	ended March 31, 1997 and 1996	                                      	2

	Consolidated Statements of Shareholders' Equity for the 	
	six months ended March 31, 1997 and 1996	                           	3

	Consolidated Statements of Cash Flows for the six months ended	
	March 31, 1997 and 1996                                            		4

	Notes to Consolidated Financial Statements	                      	   6

	Item 2.  Management's Discussion and Analysis of Financial Condition 8
	and Results of Operations

Part II. Other Information		                                         13

	Signatures			                                                       14

	Index of Exhibits		                                                 15











<PAGE>
<TABLE>
Home Building Bancorp, Inc.
Washington, Indiana
Consolidated Statements of Financial Condition
<CAPTION>
	                                                  (Unaudited)	
    	                                               March 31,         	Sept. 30,
	                                                     1997       	       1996    	
ASSETS
<S>                                                   <C>                <C> 

Cash and due from banks                               $1,769,513         $1,428,754 
Interest-bearing deposits with banks                   7,960,101          3,793,704 
Securities available for sale                          7,340,704          7,532,540 
Securities held to maturity, fair market value of 
  $411,000 at March 31, and $473,000 at Sept. 30         409,481            473,104
Loans receivable, net of allowance for loan losses of
     $78,600 at March 31, and $77,000 at Sept. 30     28,195,201         28,108,279
Accrued interest receivable                              174,898            174,519
Premises and equipment                                   778,879            787,008 
Other assets                                             175,217            262,792 
      Total assets                                    46,803,994         42,560,700 

</TABLE>
<TABLE>
<CAPTION>

LIABILITIES AND SHAREHOLDERS' EQUITY
<S>                                                 <C>                <C>
Liabilities:
Savings and NOW deposits                             $12,934,228        $11,571,843 
Other time deposits                                   24,176,062         21,055,789
    Total deposits                                    37,110,290         32,627,632 

Advances from Federal Home Loan Bank                   3,699,985          3,699,985 
Securities sold under agreements to repurchase                 0            273,951 
Accrued expenses and other liabilities                   344,521            460,613 
      Total liabilities                               41,154,796         37,062,181

Shareholders' equity
    Common stock, $.01 par value, 
      1 million shares authorized,
      331,660 issued and outstanding                       3,317              3,317 
    Additional paid in capital                         3,014,935          3,014,935 
    Treasury stock, at cost                             (345,000)          (345,000)
    Retained earnings                                  3,332,074          3,217,134 
    Unrealized gain (loss) on available 
      for sale securities net of deferred tax            (22,536)           (26,397)
    Unearned ESOP & recognition and retention shares    (333,592)          (365,470)
      Total shareholders' equity                       5,649,198          5,498,519 

      Total liabilities and shareholders' equity     $46,803,994        $42,560,700 

<FN>
See notes to consolidated financial statements.
</TABLE>
-1-
<PAGE>
<TABLE>
Home Building Bancorp., Inc.
Washington, Indiana
Consolidated Statements of Income
<CAPTION>

                                          Three months ended            Six months ended
                                               March 31,                   March 31,
                                     (Unaudited)     (Unaudited)   (Unaudited)   (Unaudited)
                                         1997           1996           1997          1996
<S>                                  <C>             <C>            <C>           <C>
Interest income:
     Loans receivable                $612,069       $617,285        $1,195,691    $1,229,898 
     Investments                       40,636         39,472            74,425        77,496 
     Mortgage-backed  securities      106,182         86,848           208,861       158,277 
     Deposits with other banks         95,713         53,377           170,979       134,765 
          Total interest income       854,600        796,982         1,649,956     1,600,436 

Interest expense:
     Deposits                         417,491        362,946           813,362       738,857 
     Repurchase agreements                  0         64,814                 0       119,975 
     Other borrowed funds              52,650              0           108,639             0 
          Total interest expense      470,141        427,760           922,001       858,832 

Net interest income                   384,459        369,222           727,955       741,604 
Provision for loan losses                   0        356,500                 0       356,500 

  Net interest income after 
     provision for loan losses        384,459         12,722           727,955       385,104 

Noninterest income:
     Gain (loss) on sale of assets      2,954          4,736             3,453         4,825 
     Customer service fees             32,220         30,853            58,915        64,899 
          Total other income           35,174         35,589            62,368        69,724 

Noninterest expenses:
          Salaries and 
            employee benefits         146,005        132,753           261,323       288,050 
          Occupancy and equipment      35,461         34,226            74,145        70,725 
          Deposit insurance premium     2,003         18,592            21,392        37,738 
          Computer expense             15,315         18,359            29,177        27,796 
          Service fees                 12,350         12,741            24,537        23,547 
          Advertising expense          12,822         13,240            26,115        24,035 
          Professional fees            20,488         10,337            26,038        27,042 
          Other expense                23,769         34,029            66,923        57,815 
          Total other expenses        268,213        274,277           529,650       556,748 

Income (loss) before income taxes     151,420       (225,966)          260,673      (101,920)
Income tax expense (benefit)           56,462        (83,999)           97,483       (42,800)

Net income (loss)                     $94,958      $(141,967)         $163,190      $(59,120)

Net income (loss) per share 
   of common stock                      $0.33        $(0.47)             $0.58        $(0.20)        

Weighted average shares outstanding   283,542        299,007           282,880       299,007 

<FN>
See notes to consolidated financial statements.
</TABLE>
-2-
<PAGE>
<TABLE>
Home Building Bancorp, Inc.
Washington, Indiana
Consolidated Statements of Shareholders' Equity
<CAPTION>
   	                                                   Six months ended March 31,
	                                                          1997	         1996
	                                                           (Unaudited)               	
<S>                                                    <C>            <C>
Common stock, $.01 par value, 1 million shares 
  authorized, 331,660 and 322,000  issued and 
  outstanding at March 31, 1997 and 1996,
  respectively                                         $    3,317      $   3,220 

Additional paid in capital                              3,014,935      2,855,642 

Treasury stock, at cost                                  (345,000)             0

Retained earnings:
     Beginning of the period                            3,217,134      3,451,949 
     Net income (loss)                                    163,190        (59,120)
     Dividends declared                                   (48,250)       (48,300)
       End of the period                                3,332,074      3,344,529 

Unrealized gain (loss) on securities available for
  sale net of deferred tax:
     Beginning of the period                              (26,397)        (3,259)
     Change in unrealized gain or loss                      3,861         23,466 
       End of the period                                  (22,536)        20,207 

Unearned  ESOP & recognition and retention shares:
     Beginning of the period                             (365,470)      (231,840)
     RRP shares vested and released                        31,878              0
       End of the period                                 (333,592)      (231,840)

Total equity                                           $5,649,198     $5,991,758 

<FN>
See notes to consolidated financial statements.
</TABLE>
-3-
<PAGE>
<TABLE>
Home Building Bancorp, Inc.
Washington, Indiana
Consolidated Statements of Cash Flows
<CAPTION>
                                                    	Six months ended March 31,
	                                                       1997	             1996
                                                              (Unaudited)
<S>                                                     <C>               <C>
Cash flows from operating activities:
  Net income (loss)                                     $163,190          $(59,120)
  Adjustments to reconcile net income to net cash
     provided by (used by) operating activities:
          Depreciation and amortization                   20,627            17,653 
          Other gains and losses, net                          0            (4,825)
          Net realized gains on available-
              for-sale securities                         (2,896)                0
          (Increase) decrease in accrued 
              interest receivable                           (379)             (743)
          Increase (decrease) in accrued expenses 
              and other liabilities                      (84,214)          (91,914)
          (Increase) decrease in other assets             84,081          (152,072)
          Provision for loan loss                              0           356,500 
          Total adjustments                               17,219           124,599 
Net cash provided by operating activities                180,409            65,479 

Cash flows from investing activities:
  Net (increase) decrease in interest-bearing 
       deposits with banks                            (4,166,397)          195,764 
  Purchases of available-for-sale securities          (1,141,435)       (2,076,253)
  Proceeds from maturities of available-
      for-sale securities                                697,100         1,030,727 
  Proceeds from sales of available-
     for-sale securities                                 646,422                 0
  Proceed from maturities of 
     held-to-maturity securities                          63,623           571,105 
 Net (increase) decrease in loans                        (86,922)         (379,913)
  Net purchases of premises and equipment                (12,498)                0   
  Proceeds from sale of foreclosed collateral                  0             4,835 
  Net cash used in investing activities               (4,000,107)         (653,735)

Cash flows from financing activities:
  Net increase (decrease) in savings and 
     NOW deposit accounts,                             1,362,385           173,254
  Net increase (decrease) in time deposits             3,120,273           576,181
  Net decrease in securities sold under 
     agreements to repurchase                           (273,951)         (842,607)
  Proceeds from Federal Home Loan Bank advances                0         1,000,000 
  Dividends paid                                         (48,250)          (48,300)
  Net cash provided by financing activities            4,160,457           858,528 

Net increase (decrease) in cash and due from banks       340,759           270,272 
Cash and due from banks at beginning of period         1,428,754         3,338,677 
Cash and due from banks at end of period              $1,769,513        $3,608,949 

<FN>
See notes to consolidated financial statements.
</TABLE>
-4-
<PAGE>
<TABLE>
Home Building Bancorp, Inc.
Washington, Indiana
Consolidated Statements of Cash Flows
<CAPTION>
                                                    	Six months ended March 31,
	                                                          1997	          1996
                                                               (Unaudited)
<S>                                                     <C>              <C>
Cash paid for:
     Interest                                           $ 919,651       $  863,806
     Income taxes                                       $       0       $   63,264

Non-cash Investing and Financing Activities:

Aggregate investments at market transferred 
  from held-to-maturity and reclassified as 
  available-for-sale                                    $       0       $2,645,719 
















<FN>
See notes to consolidated financial statements.

-5-
</TABLE>
<PAGE>
Home Building Bancorp, Inc.
Notes to Consolidated Financial Statements
March 31, 1997 and 1996


Note 1:  Basis of Presentation

The unaudited information for the three and six months ended March 31, 1997 and 
March 31, 1996, includes the results of operations of Home Building Bancorp,
Inc. (the "Company") and its wholly owned subsidiary Home Building Savings Bank,
FSB (the "Bank").  In the opinion of management of the Company, the financial
statements reflect all adjustments (consisting only of normal recurring 
adjustments) necessary to present fairly the consolidated financial 
statements.  These interim financial statements should be read in conjunction
with the Company's most recent annual financial statements and footnotes
included in the annual report of Home Building Bancorp, Inc. dated September
30, 1996.  The results of the period presented are not necessarily 
representative of the results of operations and cash flows which may be 
expected for the entire year.


Note 2:  Principles of Consolidation

The consolidated financial statements include the accounts of Home Building 
Bancorp, Inc., Home Building Savings Bank, FSB, and the Bank's subsidiary.
All significant inter-company balances and transactions have been eliminated
in consolidation.


Note 3:  Stock Conversion

On February 7, 1995, Home Building Bancorp, Inc. began trading as a public 
company on the Nasdaq SmallCap Market.  The Company issued 322,000 shares, 
$.01 par value common stock, for proceeds of $2,858,862 net expenses of 
approximately $361,000.  The Bank converted to a federal stock savings bank 
following the formation of the holding company and received proceeds of 
$1,432,853 in exchange for all its common stock. This transaction was 
accounted for using historical cost in a manner similar to that in a pooling
of interests. 


Note 4:  Earnings Per Common Share

Net income of $0.33 per common share for the three month period and $0.58 for 
the six month period ended March 31, 1997, was computed by dividing net income 
for the periods by the weighted average number of shares outstanding, less 
Employee Stock Ownership Plan (ESOP) shares and Recognition and Retention 
Plan (RRP) shares not committed to be released.  The weighted average 
number of shares outstanding for the periods was 283,542 and 282,880, 
respectively.


-6-
<PAGE>
Home Building Savings Bank, FSB
Notes to Consolidated Financial Statements
March 31, 1997 and 1996
(Concluded)


Note 5:  Allowance for Loan Losses and Loan Loss Provision

The allowance for loan losses increased $1,600 to $78,600 for the six month 
period ended March 31, 1997.  This increase was due to a recovery of a loan that
was previously charged-off by the Company.  No additional provision for loan 
losses was made during the period ended March 31, 1997.  Activity in 
the allowance for loan losses is as follows:

                 For the six months ended March 31, 
	                        1997   	      1996    	
	Beginning	         $   77,000   	$   77,039

	Provision	                  -            	-   
	Charge-offs	                -            	-   
	Recoveries	             1,600	            -   	

	Ending	            $   78,600	   $   77,039








-7-
<PAGE>
Home Building Bancorp, Inc.
Management's Discussion and Analysis of
Financial Condition and Results of Operation

General

Home Building Bancorp, Inc. (the Company) was formed at the direction of Home 
Building Savings Bank, FSB (the Bank), for the purpose of owning all the stock
outstanding in the Bank.  The Company incorporated under the laws of the State 
of Indiana and is generally authorized to engage in any activity that is 
permitted under Indiana law.  On February 7, 1995, the Company acquired all the 
stock of the Bank in accordance with the approved plan of conversion.  The 
Company had not engaged in any material operations at March 31, 1997, and had no
significant assets other than its equity investment in the Bank's stock, 
cash, investments, and a loan to the Bank's Employee Stock Ownership Plan 
(ESOP.)

Established in 1908, the Home Building Savings Bank, FSB is a community oriented
financial institution offering a variety of financial services to meet the needs
of the communities it serves.  The Bank's primary market area covers Daviess 
and Pike counties in southwestern Indiana.  The Bank attracts deposits from
the general public and uses such deposits, together with borrowings and other 
funds, to originate one- to four-family residential mortgages, automobile and
consumer loans, and to a lesser extent commercial, multifamily and 
construction real estate loans.  The Bank also invests in U.S. government
and agency obligations and may invest in other permissible investments.

The Bank's results of operations are primarily dependent upon its net interest 
income, which is the difference between interest earned on loans and investments
and interest paid on deposits and other borrowed funds.  Net interest income
is directly affected by the relative amounts of interest-earning assets and
interest-bearing liabilities and the interest rates earned or paid on such
amounts.  The Bank's results of operations are also affected by the provision 
for loan losses and the level of noninterest income and expenses.  The operating
results of the Bank are also affected by general economic conditions, the
monetary and fiscal policies of federal agencies, and the policies of 
agencies that regulate financial institutions.  The Bank's cost of funds is 
influenced by interest rates on competing investments and general market 
rates of interest.  Lending activities are influenced by the demand for 
real estate loans and other types of loans, which in turn is affected by the 
rates of interest at which loans are offered, general economic conditions 
affecting loan demand, and the availability of funds for lending activities.

Financial Condition  

For the six months ended March 31, 1997, total assets increased approximately 
$4.2 million to $46.8 million from $42.6 million at September 30, 1996.  Cash
and due from banks increased $341,000, while interest bearing deposits 
increased $4.2 million, as public funds were invested.  The Company 
bids periodically on funds from local units of government, usually for terms 
under six months in length.  These deposits are invested in FHLB time deposits, 
certificates of deposit at other depository institutions, and other short-
term investments, providing the Company with additional interest income.  
Mortgage-backed securities decreased approximately $571,000, while other 
investment securities increased $315,000, due to the sale of a mortgage-backed 
security and purchase of an agency bond.  The Company had $7.3 million of its
investment portfolio classified as available for sale as of March 31, 1997.


- 8 -
<PAGE>
Home Building Bancorp, Inc.
Management's Discussion and Analysis of
Financial Condition and Results of Operation
(continued)


Financial Condition, continued  

Liabilities increased by approximately $4.1 million as deposits increased by 
$4.5 compared to December 31, 1996.  The Bank's advances from the FHLB remained
unchanged.  The Bank has maintained deposit interest rates which are competitive
for its marketplace and was successful during the period at retaining and 
increasing deposits.  The large increase in deposits was due to short-term 
public funds.

Results of Operations:  
Comparison of the three and six months ended March 31, 1997 and 1996.

General.  The Company experienced a net profit of $95,000 for the three months 
and a net profit of $163,000 for the six months ended March 31, 1997, 
respectively, compared to net losses of $142,000 and $59,000 for the same 
periods in 1996.  The net loss in the same quarter a year ago resulted from 
increases in the loan loss reserve due to the bankruptcy of a large commercial 
borrower.

Interest Income.  Total interest income increased by $58,000, or 7.3%, to 
$855,000 for the three months ended March 31, 1997, compared to the same 
period last year.  Interest income earned by the Company,s loan portfolio
decreased $5,000 for the three months ended March 31, 1997, compared to a 
year ago.  This decrease results from a larger proportion of the Company's 
assets being held in mortgage-backed and other securities, cash and liquid 
investments. Interest income from mortgage-backed securities increased $19,000 
for the most recent quarter, to $106,000, compared to $87,000 the same period 
a year ago.  For the six month period, mortgage-backed securities interest 
income increased $51,000, to $209,000, from $158,000 during the same period 
in 1996.  Interest income also increased as a result of interest earned on 
the large deposit of public funds as discussed above.

Interest Expense.  Total interest expense increased $42,000, or 9.9%, to 
$470,000 for the three months ended March 31, 1997, compared to $428,000 for the
same period last year.  The increase was due to interest paid on a much 
larger base of deposits.  Deposits grew approximately $4.5 million for 
the three months compared to December 31, 1996.  Much of this increase was in 
short term public deposits.  Repurchase agreements were reduced to zero at 
March 31, 1997.  The weighted average cost of savings has declined slightly 
to 4.55% at March 31, 1997 compared to 4.67% at December 31, 1996.  The 
overall cost of funds, including FHLB advances is 4.64% at March 31, 1997, 
compared to 4.75% at December 31, 1996.  The Company is able to compete 
aggressively for savings funds when adequate spreads on loans or investments
become available.  FHLB advances also remain an efficient, available 
liability management tool.



- 9 -
<PAGE>
Home Building Bancorp, Inc.
Management's Discussion and Analysis of
Financial Condition and Results of Operation
(continued)

Net Interest Income.  Net interest income before provision for loan losses 
increased $15,000, or 4.1%, to $384,000 for the quarter ended March 31, 
1997, compared to the same quarter a year ago.  As of March 31, 1997, 
interest-earning assets were 108.2% of interest bearing liabilities.

Demand for mortgage loans was stronger during the most recent quarter compared 
to last quarter.  Short term interest rates, from which the Company determines 
the rate it offers deposit customers, have increased during the last six months,
encouraging borrowers to seek financing before loan rates rise.  The Company 
was also able to attract significant new time deposits during the quarter.  
Significant increases in short term interest rates would adversely affect the 
Company's interest rate spread and thus interest income.  In the case of some 
of these funds, such as short-term public funds, the Company could decline to
bid and allow them to be withdrawn if acceptable spreads are not available.  
The Company's liabilities are generally shorter in term and subject to repricing
more frequently than assets.  

The Company continues to stress consumer and installment lending, shorter-term 
(15 years and under) fixed rate mortgage loans, and adjustable rate mortgages.
Investments involve shorter-term and adjustable rate securities to respond to
changing rates.  During the quarter the Company purchased $772,000 of 
adjustable rate mortgage-backed securities.  The Company, as a thrift 
institution, continues to have a below average exposure to interest rate risk 
compared to its peers.

Nonperforming Assets and Provision for Loan Losses.  The provision for loan 
losses is a result of management's periodic analysis of the adequacy of the 
Company's allowance for loan losses.  During the three month period ended 
March 31, 1997 no additional provision was taken against earnings.  The 
Company adjusts its allowance in accordance with its Classified Assets Policy.
The Company believes it has taken an appropriate approach toward reserve levels,
consistent with the Company's loan portfolio, its current level of reserves,
the economy, real estate values and interest rates.  The Company has had an
extremely low level of loan losses during its history and therefore also 
considers the loss experience of similar portfolios in comparable lending 
markets.  Federal regulators may require additional reserves as a result of 
their examinations of the Company, but have not done so.  Accordingly, the 
calculation of the adequacy of the allowance is not solely based directly on
the level of nonperforming assets at any one time.  No assurance can be made
that future losses will not exceed the estimated amounts, thereby adversely
affecting future results of operations.  As of March 31, 1997, the Company's
allowance for loan losses was $78,600 compared to $77,000 on September 30, 
1996.  Over the six months period the reserve has increased $1,600 from 
miscellaneous small recoveries of loans previously written off.

As of March 31, 1997, the Company's non-performing assets totaled $234,000 or 
0.52% of total assets.  At the same date, the Company's ratio of allowance 
for loan losses to non-performing assets was 32.3%.

Noninterest Income.  Noninterest income remained relatively unchanged at $35,000
for the most recent quarter compared to $36,000 for the same quarter a year ago.
For the six month period noninterest income decreased $6,000 from $65,000 a year
ago to $59,000 for the period ended March 31, 1997.  The period a year ago had 
included significant amounts from the sale of the Company's data center, 
which is now complete.
- 10 -
<PAGE>
Home Building Bancorp, Inc.
Management's Discussion and Analysis of
Financial Condition and Results of Operation
(continued)


Noninterest Expense.  Total noninterest expense decreased $6,000, or 2.1%, to 
$268,000 for the latest quarter compared to $274,000 the same quarter a year
ago.  The decrease was due to reduced deposit insurance premiums which fell
from $19,000 for the quarter a year ago to $2,000 for the most recent 
quarter.  For the six months noninterest expenses fell $27,000 from $557,000
last year to $530,000 for the six months ended March 31, 1997.  Compared to 
the same six month period a year ago, the Company had one full time employee
equivalent less.  Management believes it will be necessary to add back at
least one full time equivalent in connection with the recent addition of 
Saturday office hours.

Income Tax Expense.  Income tax expense was $56,000 for the most recent quarter
compared to a credit of $84,000 for the same quarter a year ago.  The credit 
last year stemmed from the overall loss experienced due to the loan losses.
For the six months ended March 31, 1997, tax expense was $97,000 compared to
a credit of $59,000 for the same six month period a year ago.  Income before tax
expense was $151,000 this quarter compared to a loss of $142,000 for the same 
quarter a year ago.  For the six month period ended March 31, 1997, income 
before tax was $261,000 compared to a loss of $102,000 for the same period in 
1996.

Liquidity and Capital Requirements.  Home Building's main sources of funds are 
deposits, loan and investment repayments, fees and service charges and Federal 
Home Loan Bank (FHLB) advances.  Federal regulations require the Bank to 
maintain cash and eligible investments in an amount equal to at least 5% of
customer accounts and short-term borrowings to assure its ability to meet 
demands for withdrawals and repayments of short-term borrowings.  As of 
March 31, 1997, the Bank's liquidity ratio was 23.25% which is well above the 
regulatory requirements.  This high ratio was due to the large amount of public
funds on short-term deposit, which were invested in assets qualifying as 
liquidity.

The Bank uses its capital resources to meet ongoing commitments, to fund 
maturing certificates of deposit and deposit withdrawals, to invest, to fund 
existing and future loan commitments, to maintain liquidity, and to meet 
operating expenses.  The Bank anticipates it will have sufficient funds to 
meet current loan commitments.  At March 31, 1997, the Bank had outstanding 
commitments to extend credit totaling $1.1 million.  Management believes loan 
repayments, deposits and other sources of funds will be adequate to meet the 
Bank's foreseeable liquidity needs.  FHLB advances may be used to take 
advantage of investment opportunities, but are not relied upon in the regular 
course of business.

Home Building Savings Bank is required to maintain specific amounts of
regulatory capital pursuant to federal regulations.  The table below presents 
the capital position at March 31, 1997, relative to the regulatory capital
requirements.



-11-
<PAGE>
Home Building Bancorp, Inc.
Management's Discussion and Analysis of
Financial Condition and Results of Operation
(concluded)


Liquidity and Capital Requirements, continued

                                       	Amount
	                                  (in thousands)	   Percent of Assets
Tangible Capital	                    $    4,446   	        9.57%
Tangible Capital Requirement	               697	           1.50 
Excess	                              $    3,749	           8.07%

Core Capital	                        $    4,446	           9.57%
Core Capital Requirement	                 1,394	           3.00
Excess	                              $    3,052	           6.57%

Total Capital (Core & Supple.)      	$    4,525	          20.62%
Risk-Based Capital Requirement	           1,756	           8.00
Excess	                              $    2,769	          12.62%









- 12 - 
<PAGE>
PART II. OTHER INFORMATION




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

	(a)  January 20, 1997
	(b)  See (c)
	(c)  Election of Directors
       		Name of Nominee	                   For	           Withheld
		       Robert M. Murray (1-year term)	  245,892	            100
		       James E. Scheid (3-year term)	   245,842	            150
		       Gregory L. Haag (3-year term)	   245,292	            700

       		Further, 239,729 votes were cast for the ratification of Kemper CPA 
         Group,	LLC as the Company's independent auditors for the fiscal year 
         ending September 30, 1997.  There were 350 votes cast against 
         ratification with 5,913	abstaining.
	(d)  Not Applicable

Item 6.	Exhibits and Reports on Form 8-K

	(a)	Exhibits

		Exhibit 27:	Financial Data Schedule (electronic filing only)

	(b)	There were no reports on Form 8-K filed during the quarter.


















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<PAGE>
SIGNATURES


Pursuant to the requirement 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.

					HOME BUILDING BANCORP, INC.
					Registrant



Date:    5/14/97              		/s/ Bruce A. Beesley                     	
                               					Bruce A. Beesley, President and Chief
						                              Executive Officer (Duly Authorized Officer)

					

Date:    5/14/97              		/s/ Debra K. Shields                  	
						                              Debra K. Shields, Vice President and 
						                              Chief Financial Officer (Principal Financial
						                              and Accounting Officer)





























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<PAGE>

INDEX OF EXHIBITS



Exhibit		Description

27	Financial Data Schedule (electronic filing only)





































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