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          March 31, 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  May  12,  1998,  the  latest  practicable  date,  878,471  shares  of the
registrant's common stock, $.01 par value, were issued and outstanding.










                               Page 1 of 17 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                                              16

SIGNATURES                                                                 17






























                                        2



<PAGE>


                        Community Investors Bancorp, Inc.

<TABLE>
<CAPTION>
                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

                        (In thousands, except share data)


                                                                                          March 31,            June 30,
         ASSETS                                                                                1998                1997
<S>                                                                                            <C>                  <C>
Cash and due from banks                                                                  $    1,396           $     480
Federal funds sold                                                                              273                  60
Interest-bearing deposits in other financial institutions                                       583               1,870
                                                                                           --------             -------
         Cash and cash equivalents                                                            2,252               2,410

Investment securities available for sale - at market                                          5,477               1,498
Investment securities - at amortized cost, approximate market value of
  $6,711 and $8,216 as of  March 31, 1997 and June 30, 1997                                   7,227               8,258
Mortgage-backed securities - at amortized cost, approximate market value
  of $1,518 and $1,714 as of March 31, 1997 and June 30, 1997                                 1,544               1,732
Loans receivable - net                                                                       83,123              76,446
Property acquired in settlement of loans                                                         64                  71
Office premises and equipment - at depreciated cost                                             605                 618
Federal Home Loan Bank stock - at cost                                                          810                 768
Accrued interest receivable on loans                                                            115                  89
Accrued interest receivable on mortgage-backed securities                                         8                  12
Accrued interest receivable on investments and interest-bearing deposits                        158                 142
Prepaid expenses and other assets                                                               193                 146
Deferred federal income taxes                                                                   158                 114
                                                                                            -------              ------

         Total assets                                                                      $101,734             $92,304
                                                                                            =======              ======

         LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits                                                                                  $  75,370             $72,911
Advances from the Federal Home Loan Bank                                                     14,580               7,810
Advances by borrowers for taxes and insurance                                                    14                   7
Accrued interest payable                                                                        352                 290
Other liabilities                                                                               103                 149
Accrued federal income taxes                                                                    137                  24
                                                                                            -------              ------
         Total liabilities                                                                   90,556              81,191

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             11                  11
  Additional paid-in capital                                                                  6,922               6,827
  Retained earnings, restricted                                                               7,618               7,142
  Shares acquired by stock benefit plans                                                       (759)               (890)
  Less 217,300 and 177,800 shares of treasury stock - at cost                                (2,607)             (1,971)
  Unrealized losses on securities designated as available for sale, net of
    related tax effects                                                                          (7)                 (6)
                                                                                            -------              ------
         Total stockholders' equity                                                          11,178              11,113
                                                                                            -------              ------

         Total liabilities and stockholders' equity                                        $101,734             $92,304
                                                                                            =======              ======
</TABLE>




                                                         3



<PAGE>


                        Community Investors Bancorp, Inc.

<TABLE>
<CAPTION>
                       CONSOLIDATED STATEMENTS OF EARNINGS

                        (In thousands, except share data)


                                                                        Nine months ended            Three months ended
                                                                              March 31,                    March 31,
                                                                         1998         1997            1998         1997
<S>                                                                       <C>          <C>             <C>          <C>
Interest income
  Loans                                                                $4,940       $4,398          $1,682       $1,489
  Mortgage-backed securities                                               76          109              25           32
  Investment securities                                                   531          917             188          311
  Interest-bearing deposits and other                                      22           20              15            4
                                                                        -----        -----           -----        -----
         Total interest income                                          5,569        5,444           1,910        1,836

Interest expense
  Deposits                                                              2,659        2,451             875          817
  Borrowings                                                              393          566             148          210
                                                                        -----        -----           -----        -----
         Total interest expense                                         3,052        3,017           1,023        1,027
                                                                        -----        -----           -----        -----

         Net interest income                                            2,517        2,427             887          809

Provision for losses on loans                                             120          118              64           22
                                                                        -----        -----           -----        -----

         Net interest income after provision
           for losses on loans                                          2,397        2,309             823          787

Other income
  Gain (loss) on sale of other repossessed assets                          (6)           1              (4)          -
  Other operating                                                         141           99              46           33
                                                                       ------        -----         -------      -------
         Total other income                                               135          100              42           33

General, administrative and other expense
  Employee compensation and benefits                                      738          615             253          227
  Occupancy and equipment                                                 101           97              38           36
  Federal deposit insurance premiums                                       34          542              11           10
  Franchise taxes                                                         111          118              41           43
  Expenses of property acquired in settlement of loans                     23           54               8           13
  Data processing                                                         133          118              53           42
  Other operating                                                         371          324             123           79
                                                                        -----        -----          ------       ------
         Total general, administrative and other expense                1,511        1,868             527          450
                                                                        -----        -----          ------       ------

         Earnings before income taxes                                   1,021          541             338          370

Federal income taxes
  Current                                                                 390          163             117          129
  Deferred                                                                (44)          19              (6)          (4)
                                                                        -----        -----        --------        -----
         Total federal income taxes                                       346          182             111          125
                                                                        -----        -----          ------        -----

         NET EARNINGS                                                  $  675       $  359         $   227       $  245
                                                                        =====        =====          ======        =====

         EARNINGS PER SHARE
           Basic                                                         $.53         $.27            $.18         $.19
                                                                          ===          ===             ===          ===

           Diluted                                                       $.52         $.26            $.17         $.18
                                                                          ===          ===             ===          ===
</TABLE>


                                        4



<PAGE>


                        Community Investors Bancorp, Inc.

<TABLE>
<CAPTION>
                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                       For the nine months ended March 31,
                                 (In thousands)


                                                                                    1998              1997
<S>                                                                                <C>                 <C>
Cash flows from operating activities:
  Net earnings for the period                                                  $     675         $     359
  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                               (17)              (20)
    Amortization of deferred loan origination fees                                   (70)              (63)
    Depreciation and amortization                                                     36                32
    Provision for losses on loans                                                    120               118
    Amortization expense of stock benefit plans                                      226               148
    (Gain) loss on sale of other repossessed assets                                    6                (1)
    Federal Home Loan Bank stock dividends                                           (42)              (22)
    Increase (decrease) in cash due to changes in:
      Accrued interest receivable on loans                                           (26)              (12)
      Accrued interest receivable on mortgage-backed securities                        4                 2
      Accrued interest receivable on investments and
        interest-bearing deposits                                                    (16)              (72)
      Prepaid expenses and other assets                                              (47)             (100)
      Accrued interest payable                                                        62                41
      Other liabilities                                                              (46)              (59)
      Federal income taxes
        Current                                                                      113                85
        Deferred                                                                     (44)               19
                                                                                --------         ---------
         Net cash provided by operating activities                                   934               455

Cash flows provided by (used in) investing activities:
  Proceeds from maturity of investment securities                                  4,641             4,332
  Proceeds from sale of securities designated as available for sale                                     -
  Purchase of investment securities designated as available for sale              (4,992)           (1,030)
  Purchase of investment securities designated as held to maturity                (2,581)             (500)
  Principal repayments on mortgage-backed securities                                 188               832
  Loans purchased                                                                                       -
  Loan principal repayments                                                       13,950            12,619
  Loan disbursements                                                             (20,729)          (20,705)
  Purchase of office premises and equipment                                          (23)              (73)
  Proceeds from sale of other repossessed assets                                      53               201
  Purchase of Federal Home Loan Bank stock                                            -               (145)
                                                                                 -------          --------
         Net cash used in investing activities                                    (9,493)           (4,469)
                                                                                 -------           -------

         Net cash used in operating and investing
           activities (subtotal carried forward)                                  (8,559)           (4,014)
                                                                                 -------           -------


</TABLE>

                                        5


<PAGE>


                        Community Investors Bancorp, Inc.

<TABLE>
<CAPTION>
                CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

                       For the nine months ended March 31,
                                 (In thousands)


                                                                                1998              1997
<S>                                                                              <C>               <C>
         Net cash used in operating and investing
           activities (subtotal brought forward)                            $ (8,559)          $(4,014)

Cash flows provided by financing activities:
  Net increase in deposit accounts                                             2,459             2,104
  Proceeds from Federal Home Loan Bank advances                               18,550             7,250
  Repayment of Federal Home Loan Bank advances                               (11,780)           (3,503)
  Advances by borrowers for taxes and insurance                                    7                 6
  Purchase of treasury stock                                                    (636)             (592)
  Dividends on common stock                                                     (199)             (192)
                                                                              ------            ------
         Net cash provided by financing activities                             8,401             5,073
                                                                              ------            ------

Net increase (decrease) in cash and cash equivalents                            (158)            1,059

Cash and cash equivalents at beginning of period                               2,410             1,909
                                                                              ------            ------

Cash and cash equivalents at end of period                                  $  2,252           $ 2,968
                                                                             =======            ======


Supplemental  disclosure of cash flow  information:
  Cash paid during the period for:
    Federal income taxes                                                    $    295           $   107
                                                                             =======            ======

    Interest on deposits and borrowings                                     $  2,990           $ 2,976
                                                                             =======            ======

Supplemental disclosure of noncash investing activities:
  Transfers from loans to other repossessed assets                          $     52           $   176
                                                                             =======            ======

  Unrealized gains (losses) on securities designated as available
    for sale, net of related tax effects                                    $     (1)          $    12
                                                                             =======            ======


</TABLE>











                                        6


<PAGE>


                        Community Investors Bancorp, Inc.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

           For the nine and three months ended March 31, 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,  1997.  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 nine and three month  periods
    ended March 31, 1998 and 1997 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  1,262,325  and 1,259,807 for the nine and three month periods ended
    March  31,  1998,   respectively.   Weighted-average  common  shares  deemed
    outstanding,  which gives effect to 84,152 unallocated ESOP shares,  totaled
    1,352,176  and  1,317,987 for each of the nine and three month periods ended
    March 31, 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
    1,294,847 and 1,300,082 for the nine and three month periods ended March 31,
    1998, respectively, and 1,387,605 and 1,325,219 for the nine and three month
    periods ended March 31, 1997, respectively.

    Weighted-average  common  shares  outstanding  for the nine and three  month
    periods  ended  March 31,  1997,  have been  restated  to give effect to the
    Corporation's three-for-two stock split in fiscal 1997 and the three-for-two
    stock split declared in April 1998.





                                        7



<PAGE>


                        Community Investors Bancorp, Inc.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

           For the nine and three months ended March 31, 1998 and 1997


    4.   Effects of Recent Accounting Pronouncements (continued)

    In June 1996, the Financial  Accounting  Standards Board (the "FASB") issued
    Statement of Financial  Accounting  Standards ("SFAS") No. 125,  "Accounting
    for  Transfers  and  Servicing of Financial  Assets and  Extinguishments  of
    Liabilities",  that provides  accounting  guidance on transfers of financial
    assets,  servicing of financial assets,  and  extinguishment of liabilities.
    SFAS No. 125 introduces an approach to accounting for transfers of financial
    assets that  provides a means of dealing with more complex  transactions  in
    which the seller disposes of only a partial interest in the assets,  retains
    rights  or  obligations,  makes  use  of  special  purpose  entities  in the
    transaction,  or otherwise has continuing  involvement  with the transferred
    assets.  The new  accounting  method,  the  financial  components  approach,
    provides that the carrying  amount of the financial  assets  transferred  be
    allocated to  components  of the  transaction  based on their  relative fair
    values.  SFAS No. 125 provides  criteria for determining  whether control of
    assets  has  been  relinquished  and  whether  a sale has  occurred.  If the
    transfer  does not  qualify  as a sale,  it is  accounted  for as a  secured
    borrowing.  Transactions  subject to the provisions of SFAS No. 125 include,
    among others, transfers involving repurchase agreements,  securitizations of
    financial assets, loan participations, factoring arrangements, and transfers
    of receivables with recourse.

    An  entity  that  undertakes  an  obligation  to  service  financial  assets
    recognizes either a servicing asset or liability for the servicing  contract
    (unless  related  to a  securitization  of assets,  and all the  securitized
    assets are retained and classified as  held-to-maturity).  A servicing asset
    or liability  that is purchased  or assumed is initially  recognized  at its
    fair value.  Servicing assets and liabilities are amortized in proportion to
    and over the period of estimated net servicing  income or net servicing loss
    and are  subject to  subsequent  assessments  for  impairment  based on fair
    value.

    SFAS No. 125 provides  that a liability  is removed  from the balance  sheet
    only  if  the  debtor  either  pays  the  creditor  and is  relieved  of its
    obligation  for the liability or is legally  released from being the primary
    obligor.

    SFAS No. 125 is effective for  transfers  and servicing of financial  assets
    and extinguishment of liabilities  occurring after December 31, 1997, and is
    to be applied  prospectively.  Earlier  or  retroactive  application  is not
    permitted.  Management  adopted SFAS No. 125  effective  January 1, 1998, as
    required,   without  material  effect  on  the  Corporation's   consolidated
    financial position or results of operations.

    In June  1997,  the FASB  issued  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.


                                        8



<PAGE>


                        Community Investors Bancorp, Inc.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

           For the nine and three months ended March 31, 1998 and 1997


    4.   Effects of Recent Accounting Pronouncements (continued)

    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.  SFAS No. 130 is not  expected  to have a  material  impact on the
    Corporation's financial statements.

    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.





















                                        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, 1997 to March 31, 1998

At March 31, 1998, the Corporation's  assets totaled $101.7 million, an increase
of $9.4 million,  or 10.2%,  over the $92.3 million of total assets  reported at
June 30, 1997. The increase in assets was funded primarily through growth in the
deposit portfolio of $2.5 million, coupled with an increase in advances from the
Federal Home Loan Bank of $6.8 million.

Liquid assets (i.e. cash,  interest-bearing  deposits and investment securities)
increased  by $2.8  million  during the nine month  period,  to a total of $15.0
million at March 31, 1998,  as investment  securities  purchases of $7.6 million
were  partially  offset  by  maturities  totaling  $4.6  million.  Purchases  of
securities during the period include a $5.0 million U.S. government-agency three
year bond, bearing interest at a rate of 6.00%. Such purchase was financed via a
5.15% fixed-rate advance from the Federal Home Loan Bank.  Regulatory  liquidity
amounted to 15.8% at March 31, 1998.

Loans  receivable  increased  by $6.7  million,  or 8.7%,  during the nine month
period,  to a total of $83.1  million  at March  31,  1998.  Loan  disbursements
amounted to $20.7 million and were partially  offset by principal  repayments of
$14.0  million.  The volume of loan  disbursements  during the nine months ended
March 31, 1998,  remained  consistent with the increased  volume achieved during
the nine months  ended March 31, 1997.  The  allowance  for loan losses  totaled
$555,000  at  March  31,  1998,  as  compared  to  $478,000  at June  30,  1997.
Nonperforming  loans totaled $515,000 at March 31, 1998, as compared to $508,000
at  June  30,  1997.  The  allowance  for  loan  losses  represented  107.8%  of
nonperforming  loans as of March 31, 1998 and 94.1% at June 30,  1997.  Although
management  believes  that its  allowance  for loan losses at March 31, 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  $75.4 million at March 31, 1998, an increase of $2.5 million,
or 3.4%, over June 30, 1997 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, 1997 to March 31, 1998
(continued)

Advances  from the Federal  Home Loan Bank  totaled  $14.6  million at March 31,
1998,  an increase of $6.8  million,  or 86.7%,  over June 30, 1997 levels.  The
increase  resulted  primarily  from a $5.0  million  advance  used to  fund  the
purchase of investment securities, as previously discussed.

The Association is required to meet minimum capital standards promulgated by the
Office of Thrift Supervision (OTS). At March 31, 1998, the Association's capital
was well in excess of such minimum capital requirements.


Comparison of Operating Results for the Nine Month Periods Ended March 31, 199
and 1997

General

The  Corporation's net earnings totaled $675,000 for the nine months ended March
31, 1998, an increase of $316,000,  or 88.0%,  over the $359,000 of net earnings
reported  for the same  period  in  1997.  The  increase  in  earnings  resulted
primarily from a $304,000  one-time after tax charge recorded in the fiscal 1997
period  reflecting  the  assessment  to  recapitalize  the  Savings  Association
Insurance Fund (SAIF),  coupled with a $90,000  increase in net interest  income
and a  $35,000  increase  in other  income,  which  were  partially  offset by a
$101,000 increase in general,  administrative  and other expense (other than the
one-time  SAIF  recapitalization  pre-tax  charge of  $458,000)  and a  $164,000
increase in the provision for federal income taxes.

Net Interest Income

Net interest  income  increased by $90,000,  or 3.7%,  for the nine months ended
March 31, 1998, compared to the 1997 period.  Interest income on loans increased
by $542,000,  or 12.3%,  due primarily to a $9.5 million increase in the average
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  decreased by $417,000,  or 39.9%, due primarily to a
decrease in the average portfolio balance outstanding.

Interest expense on deposits increased by $208,000,  or 8.5%, due primarily to a
$3.8 million increase in the weighted-average  balance of deposits  outstanding,
which was  partially  offset by a decline in the cost of deposits  year-to-year.
Interest  expense on  borrowings  decreased  by $173,000,  or 30.6%,  during the
current period, due primarily to a $2.5 million decrease 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 Nine Month Periods Ended March 31, 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 $90,000,  or 3.7%, to a total of $2.5 million
for the nine months ended March 31, 1998.  The interest rate spread  amounted to
approximately  3.06% in the 1998 nine month period,  as compared to 2.99% during
the 1997 period,  while the net interest margin totaled  approximately  3.55% in
1998, as compared to 3.48% 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 $120,000  provision  for losses on loans  during the nine month  period  ended
March 31, 1998, an increase of $2,000, or 1.7%, 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 $35,000, or 35.0%, for the nine months ended March 31,
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  decreased by  $357,000,  or 19.1%,
during the nine  months  ended  March 31,  1998,  compared to the same period in
1997.  This  decrease  resulted  primarily  from the  $458,000  one-time  charge
recorded in fiscal 1997 attendant to the aforementioned SAIF recapitalization

Excluding the SAIF recapitalization assessment effects, general,  administrative
and other expense  increased by $101,000,  or 7.2%, due primarily to a $123,000,
or 20.0%,  increase in employee  compensation  and benefits,  and a $47,000,  or
14.5%,  increase in other operating  expenses,  which were partially offset by a
$50,000 decrease in federal deposit insurance premiums and a $31,000, or 57.4 %,
decrease in expenses of property  acquired in settlement of loans.  The increase
in  employee   compensation  and  benefits  resulted  primarily  from  increased
management  staffing levels year to year, coupled with increased costs attendant
to stock  benefit  plans and  normal  merit  increases.  The  increase  in other
operating  expense generally  reflects the effects of the Corporation's  overall
growth year to year. The special  one-time  assessment to recapitalize  the SAIF
caused federal deposit insurance premiums to be significantly  reduced beginning
January 1, 1997.


                                       12



<PAGE>


                        Community Investors Bancorp, Inc.

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


Comparison of Operating  Results for the Nine Month Periods Ended March 31, 1998
and 1997 (continued)

Federal Income Taxes

The provision for federal income taxes increased by $164,000,  or 90.1%, for the
nine months ended March 31, 1998,  as compared to the same period in 1997.  This
increase  resulted  primarily from the increase in net earnings  before taxes of
$480,000,  or 88.7%.  The  effective tax rates were 33.9% and 33.6% for the nine
months ended March 31, 1998 and 1997, respectively.


Comparison of Operating Results for the Three Month Periods Ended March 31, 1998
and 1997

General

The  Corporation  reported net earnings  totaling  $227,000 for the three months
ended March 31, 1998, a decrease of $18,000,  or 7.3%,  from the $245,000 of net
earnings  reported for the same period in 1997. The decline in earnings resulted
primarily  from a $42,000  increase in the  provision  for losses on loans and a
$77,000  increase  in  general,  administrative  and other  expense,  which were
partially  offset by a $78,000  increase  in net  interest  income  and a $9,000
increase in other income.

Net Interest Income

Net interest  income  increased by $78,000,  or 9.6%, for the three months ended
March 31, 1998, compared to the 1997 period.  Interest income on loans increased
by $193,000,  or 13.0%,  due primarily to an increase in the average  balance of
loans   outstanding   year-to-year.    Interest   income   on   investment   and
mortgage-backed  securities and interest-bearing deposits decreased by $119,000,
or  34.3%,  due  primarily  to a  decrease  in  the  average  portfolio  balance
outstanding.

Interest expense on deposits increased by $58,000,  or 7.1%, due primarily to an
increase in the average outstanding balance of deposits  year-to-year.  Interest
expense on  borrowings  decreased  by $62,000  during the  current  period,  due
primarily to a decrease in the average balance of advances from the Federal Home
Loan Bank.

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 $64,000  provision  for losses on loans  during the three month  period  ended
March 31, 1998, an increase of $42,000 over the comparable  1997 quarter.  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.


                                       13



<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 March 31, 1998
and 1997 (continued)

Other Income

Other income increased by $9,000, or 27.3%, for the three months ended March 31,
1998,  compared  to the same  period in 1997,  due  primarily  to an increase in
service fees on deposit accounts and transactions year to year.

General, Administrative and Other Expense

General, administrative and other expense increased by $77,000, or 17.1%, during
the three months ended March 31, 1998, compared to the same period in 1997.

The increase resulted primarily from a $26,000,  or 11.5%,  increase in employee
compensation and benefits and a $44,000,  or 55.7%,  increase in other operating
expenses.  The increase in employee compensation and benefits resulted primarily
from an increase in  management  staffing  levels,  coupled  with an increase in
costs attendant to stock benefit plans and normal merit increases.  The increase
in other operating  expenses generally reflects the effects of the Corporation's
overall growth year to year.

Federal Income Taxes

The provision for federal income taxes decreased by $14,000,  or 11.2%,  for the
three months ended March 31, 1998,  as compared to the same period in 1997.  The
effective  tax rates were 32.8% and 33.8% for the three  months  ended March 31,
1998 and 1997, respectively.

Other 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  Association's  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.
The  Association  is working  with the  companies  that  supply or  service  its
information  technology  systems to  identify  and remedy any year 2000  related
problems.

As of the date of this Form  10-QSB,  the  Association  has not  identified  any
specific  expenses that are reasonably  likely to be incurred by the Association
in connection with this issue and 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.



                                       14


<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 March 31, 1998
and 1997 (continued)

Other Matters (continued)

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.





































                                       15


<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

         None


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 nine
                                          months ended March 31, 1998.

           27.2:                          Restated Financial Data  Schedule for
                                          the nine months ended March 31, 1997.













                                       16



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



Date:         May 12, 1998                          By:  /s/Robert W. Siegel
       ---------------------------                       -------------------
                                                         Robert W. Siegel
                                                         Controller































                                       17