**EXHIBIT 31.2**

| | 1. | I have reviewed this quarterly report on Form 10-QSB of LSB Financial Corp. (the "Registrant");                                                                                                                                                                                                                  
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| | 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under which such statement were made, not
misleading with respect to the period covered by this report;        
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| | 3. | Based on my knowledge, the consolidated financial statements, and other financial information included in this report,
fairly present in all material respects the consolidated financial condition, results of operations and cash flows of the
Registrant as of, and for, the periods presented in this report;
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| | 4. | The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) for the registrant and we have:                                                                                    
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| |    | a)                                                                                                                                                                                                                                                                                                               
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| |    | b)                                                                                                                                                                                                                                                                                                               
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| |    | c)                                                                                                                                                                                                                                                                                                               
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| | 5. | The Registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over
financial reporting, to the Registrant's auditors and the audit committee of Registrant's board of directors (or persons
performing the equivalent function):                       
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| |    | a)                                                                                                                                                                                                                                                                                                               
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| |    | b)                                                                                                                                                                                                                                                                                                               

Date:   August 13, 2003/s/ Mary Jo David
Mary Jo David
Vice President and Chief Financial Officer