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 DECEMBER 31, 1999
                                       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

The Registrant had 331,660 shares of common stock,  par value $.01,  outstanding
at the close of business, on February 10, 2000.

Transitional Small Business Disclosure Format:

{  }    Yes         {X}    No

<PAGE>


                           HOME BUILDING BANCORP, INC.

                                      INDEX


Part I. Financial Information                                               Page

        Item 1. Financial Statements

        Consolidated Statements of Financial Condition at December 31, 1999   1
        and September 30, 1999

        Consolidated Statements of Income for the quarters ended
        December 31, 1999 and 1998                                            2

        Consolidated Statements of Comprehensive Income for the quarters
        ended December 31, 1999 and 1998                                      3

        Consolidated Statements of Cash Flows for the quarters ended
        December 31, 1999 and 1998                                            4

        Notes to Consolidated Financial Statements                            5

        Item 2.  Management's Discussion and Analysis of Financial Condition  7
        and results of Operations

Part II. Other Information

        Signatures

        Index of Exhibits

        Exhibits

<PAGE>


<TABLE>
<CAPTION>
                           Home Building Bancorp, Inc.
                               Washington, Indiana
                 Consolidated Statements of Financial Condition

                                                                 (Unaudited)
                                                                   Dec. 31,         Sept. 30,
                                                                     1999             1999
                                                                 -----------        ---------
<S>                                                             <C>             <C>
                                      ASSETS
Cash and due from banks                                         $  1,673,204    $  1,247,958
Interest-bearing deposits with banks                               1,364,189       4,760,057
Securities available for sale                                      4,481,928       4,634,094
Securities held to maturity, fair market
   value of $111,308 at Dec. 31, 1999 and
   $129,697 at Sept. 30, 1999                                        111,855         129,362
Loans receivable, net of allowance for loan losses of
   $89,826 at Dec. 31, 1999 and $86,288
   at Sept. 30, 1999                                              36,713,644      36,842,618
Accrued interest receivable                                          247,266         251,030
Insurance receivable                                                 340,130              --
Premises and equipment                                               741,923         744,516
Other assets                                                          93,884         277,436
                                                                ------------    ------------
     Total assets                                               $ 45,768,023    $ 48,887,071
                                                                ============    ============

             LIABILITIES AND SHAREHOLDERS' EQUITY

Liabilities:
Savings and NOW deposits                                        $ 10,600,241    $ 11,190,073
Other time deposits                                               23,044,960      24,398,525
                                                                ------------    ------------
     Total deposits                                               33,645,201      35,588,598
                                                                ------------    ------------

Advances from Federal Home Loan Bank                               5,677,863       6,677,863
Accrued expenses and other liabilities                               234,018         459,888
                                                                ------------    ------------
     Total liabilities                                            39,557,082      42,726,349
                                                                ------------    ------------

Shareholders' equity:
   Common stock, $.01 par value, 1 million shares authorized,
      331,660 issued and outstanding                                   3,317           3,317
   Additional paid-in capital                                      3,099,814       3,098,774
   Treasury stock, at cost                                          (605,000)       (605,000)
   Retained earnings                                               3,905,242       3,855,608
   Net unrealized gain on available for sale securities,
      net of deferred tax of $11,572 at Dec. 31, and
      $13,827 at Sept. 30                                            (52,882)        (37,946)
   Unearned ESOP & recognition and retention shares                 (139,550)       (154,031)
     Total shareholders' equity                                    6,210,941       6,160,722
                                                                ------------    ------------

     Total liabilities and shareholders' equity                 $ 45,768,023    $ 48,887,071
                                                                ============    ============
</TABLE>


   The accompanying notes are an integral part of these  consolidated  financial
statements.

                                        1

<PAGE>


<TABLE>
<CAPTION>
                           Home Building Bancorp, Inc.
                               Washington, Indiana
                        Consolidated Statements of Income

                                                             Three months ended Dec. 31,
                                                                 1999         1998
                                                                 ----         ----
                                                                  (Unaudited)
<S>                                                           <C>          <C>
Interest income:
   Loans receivable                                           $ 728,466    $ 657,539
   Investments                                                   33,330       27,425
   Mortgage-backed securities                                    44,017       58,783
   Deposits with other banks                                     70,910       65,134
                                                              ---------    ---------
        Total interest income                                   876,723      808,881
                                                              ---------    ---------

Interest expense:
   Deposits                                                     380,846      365,659
   Other borrowed funds                                          86,933       87,245
                                                              ---------    ---------
        Total interest expense                                  467,779      452,904
                                                              ---------    ---------

Net interest income                                             408,944      355,977
Provision for loan losses                                        (3,500)      (5,000)
                                                              ---------    ---------
        Net interest income after provision for loan losses     405,444      350,977
                                                              ---------    ---------

Noninterest income:
   Gain on sale of assets                                            18        5,727
   Customer service fees                                         26,102       48,241
                                                              ---------    ---------
        Total other income                                       26,120       53,968
                                                              ---------    ---------

Noninterest expenses:
   Salaries and employee benefits                               168,832      155,945
   Occupancy and equipment                                       38,577       35,895
   Deposit insurance premium                                      5,307        4,723
   Computer expense                                              16,617       14,549
   Service fees                                                  15,511       14,813
   Advertising expense                                           13,703       13,328
   Professional fees                                             16,772       18,634
   Other expense                                                 39,485       27,000
                                                              ---------    ---------
        Total other expenses                                    314,804      284,887
                                                              ---------    ---------

Income before income taxes                                      116,760      120,058
Income tax expense                                               44,876       40,849
                                                              ---------    ---------
Net income                                                    $  71,884    $  79,209
                                                              =========    =========

Basic earnings per share of common stock                      $    0.25    $    0.28
                                                              =========    =========
Weighted average shares outstanding                             283,354      286,258
                                                              =========    =========

Diluted earnings per share of common stock                    $    0.25    $    0.28
                                                              =========    =========
Diluted weighted average share outstanding                      283,354      286,985
                                                              =========    =========
</TABLE>

   The accompanying notes are an integral part of these  consolidated  financial
statements.

                                        2

<PAGE>


<TABLE>
<CAPTION>
                           Home Building Bancorp, Inc.
                               Washington, Indiana
                 Consolidated Statements of Comprehensive Income

                                                             Three months ended Dec. 31,
                                                                 1999         1998
                                                                 ----         ----
                                                                  (Unaudited)
<S>                                                           <C>          <C>

Net income                                                    $ 71,884    $ 79,209

Other comprehensive income, net of income tax:
    Unrealized holding gains and (losses)                      (14,936)     (3,383)
                                                              --------    --------

Comprehensive income                                          $ 56,948    $ 75,826
                                                              ========    ========


</TABLE>


























   The accompanying notes are an integral part of these  consolidated  financial
statements.

                                        3

<PAGE>


<TABLE>
<CAPTION>
                           Home Building Bancorp, Inc.
                               Washington, Indiana
                      Consolidated Statements of Cash Flows

                                                               Three months ended Dec. 31,
                                                                   1999         1998
                                                                   ----         ----
                                                                      (Unaudited)
<S>                                                           <C>            <C>
Cash flows from operating activities:
  Net income                                                  $    71,884    $    79,209
  Adjustments to reconcile net income to net cash
     provided by operating activities:
        Depreciation and amortization                               8,736          9,714
        Non cash compensation                                      15,521         20,653
        Provision for loan losses                                   3,500          5,000
        Net realized gains on available for sale securities            --             --
        Decrease in insurance receivable                               --             --
        Decrease in accrued interest receivable                     3,764         12,993
        Increase (decrease) in accrued expenses
             and other liabilities                               (225,871)      (171,673)
        (Increase) decrease in other assets                       194,710        127,643
                                                              -----------    -----------
        Total adjustments                                             360          4,330
                                                              -----------    -----------
 Net cash provided by operating activities                         72,244         83,539
                                                              -----------    -----------

Cash flows from investing activities:
  Net (increase) decrease in interest-
         bearing deposits with banks                            3,395,868       (393,116)
  Purchases of available for sale securities                           --             --
  Proceeds from maturities of available for sale securities       126,072        932,072
  Proceeds from sales of available for sale securities                 --             --
  Proceeds from maturities of held to maturity securities          17,507         26,259
  Net increase in loans                                          (214,656)    (1,778,741)
  Net purchases of premises and equipment                          (6,142)        (4,529)
                                                              -----------    -----------
Net cash (used) provided by investing activities                3,318,649     (1,218,055)
                                                              -----------    -----------

Cash flows from financing activities:
  Net increase in savings and
     NOW deposit accounts                                        (589,832)       749,665
  Net increase in time deposits                                (1,353,565)     1,548,590
  Purchase of 15,000 shares treasury stock                             --       (260,000)
  Paydowns on Federal Home Loan Bank Advances                  (1,000,000)            --
  Dividends paid                                                  (22,250)       (22,250)
                                                              -----------    -----------
  Net cash provided by financing activities                    (2,965,647)     2,016,005
                                                              -----------    -----------
Net increase in cash and due from banks                           425,246        881,489
Cash and due from banks at beginning of period                  1,247,958      1,366,761
                                                              -----------    -----------
Cash and due from banks at end of period                      $ 1,673,204    $ 2,248,250
                                                              ===========    ===========

Interest paid                                                 $   467,779    $   467,492
                                                              ===========    ===========

Income taxes paid                                             $    17,227    $    80,144
                                                              ===========    ===========
</TABLE>

The  accompanying  notes are an integral  part of these  consolidated  financial
statements.

                                        4

<PAGE>



                           Home Building Bancorp, Inc.
                   Notes to Consolidated Financial Statements
                           December 31, 1999 and 1998


Note 1:  Basis of Presentation

The unaudited  information for the quarters ended December 31, 1999 and December
31, 1998, 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, 1999.  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, White
River  Service   Corporation.   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.  In February  1999,
the  Company's  stock listing was moved from the NASDAQ  SmallCap  Market to the
"pink sheets" published by the National Quotations Bureau, Inc.


Note 4:  Earnings Per Common Share

Basic  earnings  of $0.25 per  common  share  for the most  recent  quarter  was
computed  by  dividing  net  income  by the  weighted  average  number of shares
outstanding  during the quarter,  less Employee  Stock  Ownership  Plan ("ESOP")
shares and  Recognition  and  Retention  Plan ("RRP")  shares not  committed for
release.  The weighted  average number of shares  outstanding for the period was
283,354.  Dilutive  earnings per share is consistent with that of basic earnings
per share while giving effect to all dilutive  potential common shares that were
outstanding during the period. Earnings,  assuming dilution, for the most recent
quarter  were  $0.25  per  share.  A  reconciliation   of  both  numerators  and
denominators of the per share calculations follows:






                                       5

<PAGE>



                           Home Building Bancorp, Inc.
                   Notes to Consolidated Financial Statements
                           December 31, 1999 and 1998
                                   (Concluded)

Note 4:  Earnings Per Common Share, continued

<TABLE>
<CAPTION>
                                              For the Three Months Ended December 31, 1999
                                              --------------------------------------------
                                             Income             Shares              Per-Share
                                           (Numerator)       (Denominator)           Amount
<S>                                          <C>                <C>                  <C>
BASIC EPS
Income available to common shareholders      $71,884            283,354              $0.25
Effect of dilutive securities:
  Incentive stock option plan shares                                727
DILUTED EPS
Income available to common shareholders+
assumed conversions                          $71,884            283,041              $0.25


                                              For the Three Months Ended December 31, 1998
                                              --------------------------------------------
                                             Income             Shares              Per-Share
                                           (Numerator)       (Denominator)           Amount
BASIC EPS
Income available to common shareholders      $79,209            286,258              $0.28
Effect of dilutive securities:
  Incentive stock option plan shares                                727
DILUTED EPS
Income available to common shareholders+
assumed conversions                          $79,209            286,985              $0.28

</TABLE>

Note 5:  Allowance for Loan Losses and Loan Loss Provision

The allowance for loan losses  increased  $3,538 to $89,826 for the  three-month
period ended December 31, 1999 compared to September 30, 1999. This increase was
the net effect of  charge-offs  and an  additional  provision of $3,500 for loan
losses made during the period ended December 31, 1999. Activity in the allowance
for loan losses was as follows:

                                  For the three months ended December 31,
                                     1999                 1998
                                     ----                 ----

              Beginning             $ 86,288           $ 92,249

                Provision              3,500              5,000
                Charge-offs               38             (3,624)
                Recoveries                --                 --
                                    --------           --------

                Ending              $ 89,826           $ 93,625
                                    ========           ========



                                        6

<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 no
significant  assets at December 31, 1999 other than its equity investment in the
Bank's  stock,  cash,  investments,  and a loan  to  the  Bank'  Employee  Stock
Ownership Plan ("ESOP").

Established  in 1908,  the Bank 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, multi-family 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  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. Noninterest income
consists  primarily  of service  charges and net income  from the Bank's  wholly
owned  service  corporation   subsidiary,   White  River  Service   Corporation.
Noninterest expense includes salaries and employee benefits, occupancy expenses,
federal  deposit  insurance  premiums,   data  processing  expenses,  and  other
operating  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.
Interest  rates on competing  investments  and general  market rates of interest
influence the Bank's cost of funds.  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  three  months  ended  December  31,  1999,   total  assets   decreased
approximately  $3.1 million to $45.8 million from $48.9 million at September 30,
1999.  Loans  receivable  decreased  approximately  $129,000 to $36.7 million at
December  31,  1999.  Total cash and cash  equivalents  increased  approximately
$425,000, while interest bearing deposits with banks decreased $3.4 million. The
Bank reclassified  $340,000 from loans receivable to an insurance receivable due
to an employee defalcation.

Liabilities  decreased by approximately  $3.2 million.  Deposits  decreased $1.9
million with the scheduled  withdrawal of some public funds. The Bank maintained
deposit interest rates which are competitive for its marketplace, and often bids
on large public fund deposits. These may cause significant changes in both total
customer  deposits  and short term  investments  and  deposits by the Bank.  The
Bank's  advances from the Federal Home Loan Bank ("FHLB")  also  decreased  $1.0
million due to a scheduled maturity.

                                        7

<PAGE>


                           Home Building Bancorp, Inc.
                     Management's Discussion and Analysis of
                  Financial Condition and Results of Operation

RESULTS OF OPERATIONS:
COMPARISON OF THE THREE MONTHS ENDED DECEMBER 31, 1999 AND 1998.

GENERAL.  The Bank  experienced a net profit of $71,884 for the quarter compared
to a profit of $79,204 for the same period in 1998.  A increase in net  interest
income  was  more  than  offset  by  increased  noninterest  expense  and  lower
noninterest income compared to the same period a year ago.

INTEREST INCOME.  Total interest income increased $68,000,  or 8.4%, to $877,000
for the period ended December 31, 1999 compared to $809,000 the same period last
year.  Interest income earned on the Bank's loan portfolio  increased $70,000 to
$728,000 for the quarter compared to $658,000 for the same quarter in 1998. This
increase  was due to  growth  in the  loan  portfolio,  particularly  mortgages,
compared to a year ago.  Interest  income from  investment  and  mortgage-backed
securities decreased  approximately $9,000 during the quarter ended December 31,
1999  compared to the same  quarter a year ago as these  assets  continue to pay
down.  Income  on  deposits  for the most  recent  quarter  increased  $6,000 to
$71,000.  The weighted  average yield on earning  assets was 7.33% for the three
months  ended  December  31, 1999  compared to 7.23% for the three  months ended
December 31, 1998.

INTEREST EXPENSE.  Total interest expense increased $15,000, or 3.3% to $468,000
for the quarter ended December 31, 1999, compared to $453,000 the same quarter a
year ago. The increase was due to a higher volume of deposits during most of the
period  compared to a year ago.  While total deposits had decreased $1.9 million
by the end of the quarter ended  December 31, 1999,  the Bank was able to reduce
its average  cost of deposits  and  borrowed  funds to 4.40% for the most recent
quarter  from  4.52%  for the same  quarter  a year  ago.  Some of the  decrease
resulted from the scheduled  withdrawal of short-term public funds deposits,  on
which a higher than  avergage  interest  rate was being paid.  The Bank does not
rely on  these  funds  for  regular  operations.  The  Bank  is able to  compete
aggressively  for savings funds in its markets when adequate spreads on loans or
investments become available.  FHLB advances also remain a liability  management
tool.


NET  INTEREST  INCOME.  Net interest  income  before  provision  for loan losses
increased  $53,000,  or 14.88%,  to $409,000 for the quarter ended  December 31,
1999, compared to $356,000 for the same quarter in 1998. As of December 31, 1999
interest-earning  assets  were 110.1% of interest  bearing  liabilities.  On the
asset  side,  the  Bank's  fixed  rate  mortgage  and  mortgage-backed  security
portfolio grew  approximately  $200,000  during the period.  The adjustable rate
loan portfolio  remained  stable.  Installment  and commercial  loans  decreased
approximately $630,000. On the liability side, the Bank's certificate of deposit
and  savings/NOW   deposits  both  decreased  during  the  quarter.  The  Bank's
liabilities  are  generally  shorter  in term  and  subject  to  repricing  more
frequently  than  assets;  accordingly,  an  increase  in  interest  rates could
adversely affect the Company's net income. The Bank continues to stress consumer
and installment  lending.  Interest rate risk is monitored to assure  compliance
with  the  Bank's  policy.   Investments  stress   shorter-term  and  adjustable
securities  to respond to changing  rates.  The Bank,  as a thrift  institution,
continues to have exposure to interest rate risk in compliance  with its board's
policy.


                                        8


<PAGE>


                           Home Building Bancorp, Inc.
                     Management's Discussion and Analysis of
                  Financial Condition and Results of Operation


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
Bank's  allowance for loan losses.  During the three month period ended December
31, 1999, a $3,500  provision was charged against earnings to increase the level
of the allowance  for loan losses.  The Bank adjusts its allowance in accordance
with its Classified Assets Policy. The Bank believes it has taken an appropriate
approach toward reserve levels,  consistent with the Bank's loan portfolio,  its
current level of reserves,  the economy, real estate values, and interest rates.
The Bank has had a low level of loan losses  during its  history  and  therefore
considers  the loss  experience  of similar  portfolios  in  comparable  lending
markets and institutions.  Federal regulators may require additional reserves as
a result of their examinations of the Bank. 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 December 31, 1999,  the Bank's  allowance for loan
losses was $90,000 compared to $93,000 one year earlier.

As of December 31, 1999 the Bank's  nonperforming  assets totaled  $228,000,  or
0.50% of total  assets.  At the same date the Bank's ratio of allowance for loan
losses to  nonperforming  assets was 39.5%.  At  September  30,  1999 the Bank's
nonperforming  assets totaled  $129,000,  or .26% of total assets and the Bank's
loan loss allowance represented 66.6% of nonperforming assets.

NONINTEREST INCOME.  Noninterest income decreased $28,000, or 51.60%, to $26,000
for the most recent quarter compared to $54,000 for the same quarter a year ago.
The  decrease  resulted  from lower profit from the Bank's  service  corporation
subsidiary brokergage  operation.  Also, profit from the sale of an asset in the
same quarter a year ago did not reoccur during this most recent quarter.

NONINTEREST EXPENSE.  Total noninterest expense increased $30,000, or 10.50%, to
$315,000 for the most recent quarter compared to $285,000 for the same quarter a
year ago. During the most recent quarter the Bank incurred a deductible  expense
on its fidelity bond of $10,000 due to an employee  defalcation.  Also, salaries
and benefits  increased with the addition of one full-time  employee compared to
the same quarter a year ago.

INCOME TAX  EXPENSE.  Income tax  expense  was  $45,000  during the most  recent
quarter  compared to $41,000 the same  quarter a year ago. The amount of expense
accrued each quarter for tax expense is based on management's estimate of future
tax liability.

LIQUIDITY  AND  CAPITAL  REQUIREMENTS.  The  Bank's  main  sources  of funds are
deposits,  loan and  investment  repayments,  fees and service  charges and FHLB
advances.  Federal  regulations  require the Bank to maintain  cash and eligible
investments  as  liquidity  to assure the Bank's  ability  to meet  demands  for
withdrawals and repayments of short-term borrowings. As of December 31, 1999 the
Bank's liquidity ratio was 16.61%, which is well above regulatory requirement.



                                        9



<PAGE>


                           Home Building Bancorp, Inc.
                     Management's Discussion and Analysis of
                  Financial Condition and Results of Operation


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  December  31,  1999 the  Bank  had  outstanding
commitments  to  extend  credit  totaling  $762,000.  Management  believes  loan
repayments  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
investments  and meet loan  demand,  but they are not relied upon in the regular
course of business.  At December 31, 1999  certificates  of deposit  schedule to
mature in one year or less totaled $15.6 million.  Management believes, based on
its  experience to date,  that a significant  portion of these funds will remain
with the Bank. The Bank is required to maintain  specific  amounts of regulatory
capital  pursuant to federal  regulations.  The table below presents the capital
position  as  of  December  31,  1999   relative  to  the   regulatory   capital
requirements.

                                        Amount
                                    (in thousands)       Percent of Assets
                                    --------------       -----------------

Tangible Capital                     $  4,883                 10.74%
Tangible Capital Requirement        $     682                  1.50%
                                    ---------                 -----
Excess                               $  4,201                  9.24%

Core Capital                         $  4,883                 10.73%
Core Capital Requirement             $  1,819                  4.00%
                                     --------                 -----
Excess                               $  3,064                  6.73%

Total Capital (Core & Supple.)      $   4,973                 19.30%
Risk-Based Capital Requirement      $   2,062                  8.00%
                                    ---------                 -----
Excess                              $   2,911                 11.30%


YEAR 2000

         Home Building  Savings Bank has not experience  any data  processing or
other  operational  problems  connected  with the  Year  2000  event.  Moreover,
management is not aware of any significant operational problems among the Bank's
correspondent institutions,  data processing providers, or others vendors, which
would have an effect on the Bank's  operations.  The Bank did not experience any
noticeable  deposit  withdrawals or other activity by Bank's  customers that had
any impact on operations.  Management does believe,  however, that profitability
of the Bank's brokerage operation subsidiary was hurt by lack of activity in the
quarter  leading up to the Year 2000  event,  and  anticipates  a return to more
average levels of activity and income in coming quarters.



                                       10


<PAGE>


                           Home Building Bancorp, Inc.
                     Management's Discussion and Analysis of
                  Financial Condition and Results of Operation


FORWARD-LOOKING STATEMENTS

        When used in this  Quarterly  Report on Form 10-QSB or future filings by
the Company with the Securities and Exchange Commission,  in the Company's press
releases or other public or shareholder  communications,  or in oral  statements
made with the approval of an authorized  executive officer, the words or phrases
"will likely  result",  "are expected to", "will  continue",  "is  anticipated",
"estimate", "project", "believe" or similar expressions are intended to identify
"forward-looking  statements"  within  the  meaning  of the  Private  Securities
Litigation  Reform Act of 1995.  The  Company  wishes to caution  readers not to
place undue reliance on any such forward-looking statements, which speak only as
of the date made, and to advise readers that various factors including  regional
and national  economic  conditions,  changes in levels of market interest rates,
credit risks of lending activities, and competitive and regulatory factors could
affect the Company's financial  performance and could cause the Company's actual
results  for future  periods to differ  materially  from  those  anticipated  or
projected.

        The Company does not undertake and specifically disclaims any obligation
to  publicly  release  the  result  of any  revisions  which  may be made to any
forward-looking   statements  to  reflect  the   occurrence  of  anticipated  or
unanticipated events or circumstances after the date of such statements.












                                       11


<PAGE>



                           PART II. OTHER INFORMATION


Item 1.  Legal Proceedings

         None


Item 2.  Changes in Securities and Use of Proceeds

         None


Item 3.  Defaults Upon Senior Securities

         None


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

         None


Item 5.  Other Information

         None

Item 6.  Exhibits and Reports on Form 8-K

         (a)    Exhibits

                Exhibit 27:   Financial Data Schedule (electronic filing only)

         (b)    Reports on Form 8-K

                Date of Report:  November 9, 1999

                Items Reported: Item 5, Press release announcing the date of its
                annual meeting.






                                       12

<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: February 14, 2000           /s/ Bruce A. Beesley
      ------------------------    --------------------------------------------
                                  Bruce A. Beesley, President and Chief
                                   Executive Officer (Duly Authorized Officer)



Date: February 14, 2000           /s/ Debra K. Shields
      ------------------------    --------------------------------------------
                                  Debra K. Shields, Vice President and
                                   Chief Financial Officer (Principal Financial
                                   and Accounting Officer)









<PAGE>


                                INDEX OF EXHIBITS



EXHIBIT             DESCRIPTION

27                  Financial Data Schedule (electronic filing only)