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

FORM 10-QSB

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

For the quarterly period ended March 31, 2001

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

Indicate the number of shares outstanding of each of the issuer's classes of common stock as of the latest
practicable date.

Class              Outstanding
                                          
Common Stock              296,660 as of April 27, 2001

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

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**HOME BUILDING BANCORP, INC.**

**INDEX**

|Part I.  Financial Information | Page                                                                                                      
|------------------------------ | ----------------------------------------------------------------------------------------------------------
|                               |                                                                                                           
|                               | Item 1.  Financial Statements                                                                             
|                               |                                                                                                           
|                               | Consolidated Statements of Financial Condition at March 31, 2001
and September 30, 2000                   
|                               |                                                                                                           
|                               | Consolidated Statements of Income for the three and six months
ended March 31, 2001 and 2000              
|                               | Consolidated Statements of Comprehensive Income for the three
and six months ended March 31, 2001 and 2000
|                               | Consolidated Statements of Cash Flows for the six months ended
March 31, 2001 and 2000                    
|                               | Notes to Consolidated Financial Statements                                                                
|                               |                                                                                                           
|                               | Item 2.  Management's Discussion and Analysis of Financial Condition
            and Results of Operations
|                               |                                                                                                           
|Part II.  Other Information    | 13                                                                                                        
|                               |                                                                                                           
|                               | Signatures                                                                                                

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Home Building Bancorp, Inc.
Washington, Indiana
Consolidated Statements of Financial Condition

|                                                                                                       | March 31,
2001 | Sept. 30,
2000
|------------------------------------------------------------------------------------------------------ | -------------- | --------------
|                                                                                                       |                |               
|ASSETS                                                                                                 |                |               
|Cash and due from banks                                                                                | $ 1,569,008    | $ 1,438,888   
|Interest-bearing deposits with banks                                                                   | 4,078,750      | 3,029,003     
|Securities available for sale                                                                          | 3,907,950      | 3,739,453     
|Securities held to maturity, fair market value of $31,825
   at March 31, and $62,425 at Sept. 30      | 30,885         | 62,945        
|Loans receivable, net of allowance for loan losses of
   $113,402 at March 31, and $88,659 at Sept. 30 | 37,692,833     | 36,971,356    
|Federal Home Loan Bank stock                                                                           | 350,000        | 341,400       
|Premises and equipment                                                                                 | 743,541        | 730,422       
|Accrued interest receivable and other assets                                                           | 447,580        | 850,683       
|Total assets                                                                                           | $48,820,547    | $47,164,150   
|                                                                                                       |                |               
|LIABILITIES AND SHAREHOLDERS' EQUITY                                                                   |                |               
|                                                                                                       |                |               
|Liabilities:                                                                                           |                |               
|Savings and NOW deposits                                                                               | $11,765,697    | $10,552,977   
|Other time deposits                                                                                    | 24,621,587     | 26,303,331    
|Total deposits                                                                                         | 36,387,284     | 36,856,308    
|                                                                                                       |                |               
|Advances from Federal Home Loan Bank                                                                   | 5,500,000      | 3,500,000     
|Accrued expenses and other liabilities                                                                 | 460,960        | 507,075       
|Total liabilities                                                                                      | 42,348,244     | 40,863,383    
|                                                                                                       |                |               
|Common stock in ESOP subject to put option                                                             | 198,803        | 217,238       
|                                                                                                       |                |               
|Other Shareholders' equity:                                                                            |                |               
|Common stock, $.01 par value, 1 million shares authorized,
       331,660 issued                       | 3,317          | 3,317         
|Additional paid-in capital                                                                             | 3,099,063      | 3,098,381     
|Treasury stock, 35,000 shares at cost                                                                  | (605,000)      | (605,000)     
|Retained earnings                                                                                      | 4,049,543      | 3,944,650     
|Amount reclassified on ESOP shares                                                                     | (198,803)      | (217,238)     
|Accumulated other comprehensive income                                                                 | 687            | (44,472)      
|Unearned ESOP & recognition and retention shares                                                       | (75,307)       | (96,109)      
|Total other shareholders' equity                                                                       | 6,472,303      | 6,300,767     
|Total liabilities and shareholders' equity                                                             | $48,820,547    | $47,164,150   



---

Home Building Bancorp, Inc.
Washington, Indiana
Consolidated Statements of Income

|                                                    | Three months ended
March 31, | Six months ended
March 31,
|--------------------------------------------------- | ---------------------------- | --------------------------
|                                                    | 2001                         | 2000                      
|Interest income:                                    |                              |                           
|Loans receivable                                    | $766,838                     | $692,326                  
|Investments                                         | 36,882                       | 32,991                    
|Mortgage-backed securities                          | 42,247                       | 43,095                    
|Deposits with other banks                           | 53,620                       | 41,578                    
|Total interest income                               | 899,587                      | 809,990                   
|                                                    |                              |                           
|Interest expense:                                   |                              |                           
|Deposits                                            | 398,108                      | 357,909                   
|Other borrowed funds                                | 70,948                       | 78,927                    
|Total interest expense                              | 469,056                      | 436,836                   
|                                                    |                              |                           
|Net interest income                                 | 430,531                      | 373,154                   
|Provision for loan losses                           | 12,000                       | -                         
|Net interest income after provision for loan losses | 418,531                      | 373,154                   
|                                                    |                              |                           
|Noninterest income:                                 |                              |                           
|Gain on sale of assets                              | 46                           | 13                        
|Customer service fees                               | 25,760                       | 27,683                    
|Total other income                                  | 25,806                       | 27,696                    
|                                                    |                              |                           
|Noninterest expenses:                               |                              |                           
|Salaries and employee benefits                      | 159,457                      | 158,693                   
|Occupancy and equipment                             | 37,805                       | 34,628                    
|Deposit insurance premium                           | 1,837                        | 1,913                     
|Computer expense                                    | 15,524                       | 16,225                    
|Service fees                                        | 14,677                       | 14,344                    
|Advertising expense                                 | 5,843                        | 12,236                    
|Professional fees                                   | 44,369                       | 38,709                    
|Other expense                                       | 34,513                       | 34,307                    
|Total other expenses                                | 314,025                      | 311,055                   
|                                                    |                              |                           
|Income before income taxes                          | 130,312                      | 89,795                    
|Income tax expense                                  | 54,280                       | 32,201                    
|                                                    |                              |                           
|Net income                                          | $   76,032                   | $   57,594                
|                                                    |                              |                           
|Basic earnings per share of common stock            | $       0.26                 | $       0.20              
|Weighted average shares outstanding                 | 288,803                      | 284,476                   
|                                                    |                              |                           
|Diluted earnings per share of common stock          | $       0.26                 | $       0.20              
|Diluted weighted average shares outstanding         | 288,803                      | 284,476                   



---

Home Building Bancorp, Inc.
Washington, Indiana
Consolidated Statements of Comprehensive Income

|                                                                                            | Three months ended
March 31, | Six months ended
March 31,
|------------------------------------------------------------------------------------------- | ---------------------------- | --------------------------
|                                                                                            | 2001                         | 2000                      
|                                                                                            |                              |                           
|Net income                                                                                  | $    76,032                  | $  57,594                 
|                                                                                            |                              |                           
|Other comprehensive income, net of income tax:
       Unrealized holding gains and (losses) | 39,523                       | (9,661)                   
|                                                                                            |                              |                           
|Comprehensive income                                                                        | $  115,555                   | $  47,933                 



---

Home Building Bancorp, Inc.
Washington, Indiana
Consolidated Statements of Cash Flows

|                                                                                               | Six months ended March 31,
|---------------------------------------------------------------------------------------------- | --------------------------
|                                                                                               | 2001                      
|                                                                                               |                           
|Cash flows from operating activities:                                                          |                           
|Net income                                                                                     | $    149,392              
|Adjustments to reconcile net income to net cash
   provided by (used by) operating activities: |                           
|Depreciation and amortization                                                                  | 22,842                    
|Non cash compensation                                                                          | 21,484                    
|Other gains and losses, net                                                                    | -                         
|Net realized gains on available-for-sale securities                                            | -                         
|Change in accrued interest receivable and other assets                                         | 70,553                    
|Change in accrued expenses and other liabilities                                               | (46,115)                  
|Provision for loan losses                                                                      | 27,000                    
|Net cash provided by operating activities                                                      | 245,156                   
|                                                                                               |                           
|Cash flows from investing activities:                                                          |                           
|Net change in interest-bearing deposits with banks                                             | (1,049,747)               
|Purchases of available for sale securities                                                     | (1,251,406)               
|Proceeds from maturities of available for sale securities                                      | 161,897                   
|Proceeds from sales of available for sale securities                                           | 1,000,000                 
|Proceed from maturities of held to maturity securities                                         | 32,060                    
|Purchase of FHLB stock                                                                         | (8,600)                   
|Net (increase) decrease in loans                                                               | (449,755)                 
|Net purchases of premises and equipment                                                        | (35,962)                  
|Net cash used in investing activities                                                          | (1,601,513)               
|                                                                                               |                           
|Cash flows from financing activities:                                                          |                           
|Net change in deposits                                                                         | (469,024)                 
|Purchase of 15,000 shares of treasury stock                                                    | -                         
|Proceeds from Federal Home Loan Bank advances                                                  | 5,500,000                 
|Paydowns on Federal Home Loan Ban advances                                                     | (3,500,000)               
|Dividends paid                                                                                 | (44,499)                  
|Net cash provided by financing activities                                                      | 1,486,477                 
|                                                                                               |                           
|Net increase in cash and due from banks                                                        | 130,120                   
|Cash and due from banks at beginning of period                                                 | 1,438,888                 
|Cash and due from banks at end of period                                                       | $ 1,569,008               
|                                                                                               |                           
|Supplemental cash flow information:                                                            |                           
|Interest paid                                                                                  | $    940,110              
|                                                                                               |                           
|Income taxes paid                                                                              | $      26,028             



---

Home Building Bancorp, Inc.
Notes to Consolidated Financial Statements
March 31, 2001 and 2000

Note 1:  Basis of Presentation

The consolidated financial statements include the accounts of Home Building Bancorp, Inc. (the
"Company"), Home Building Savings Bank, FSB (the "Bank"), and the Bank's subsidiary.  All significant
inter-company balances and transactions have been eliminated in consolidation.  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,
2000.  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:  Earnings Per Common Share

Basic earnings of $0.26 per common share for the three month period and $0.52 for the six month period
ended March 31, 2001, were computed by dividing net income by the weighted average number of shares
outstanding during the quarter, less unearned Employee Stock Ownership Plan ("ESOP") and Recognition
and Retention Plan ("RRP") shares.  Diluted earnings per share give effect to all dilutive potential common
shares that were outstanding during the period.  Earnings, assuming dilution, for the most recent three-month
period were $0.26 per share and $0.52 for the six-month period ended March 31, 2001.  A reconciliation of
both numerators and denominators of the per share calculations follows:

|                                                | Income    
(Numerator) | Shares      
(Denominator) | Per-Share
Amount
|----------------------------------------------- | ---------------------- | -------------------------- | ----------------
|For the Three Months Ended March 31, 2001       |                        |                            |                 
|**Basic EPS,**                                  | ****                   |                            |                 
|********Income available to common shareholders | $  76,032              | 288,803                    | $ 0.26          
|Effect of dilutive securities:                  |                        |                            |                 
|Incentive stock option plan shares              |                        | -                          |                 
|**Diluted EPS**                                 |                        |                            |                 
|Income available to common shareholders+        |                        |                            |                 
|assumed conversions                             | 76,032                 | 288,803                    | 0.26            
|                                                |                        |                            |                 
|For the Six Months Ended March 31, 2001         |                        |                            |                 
|**Basic EPS,**                                  |                        |                            |                 
|Income available to common shareholders         | 149,392                | 288,242                    | 0.52            
|Effect of dilutive securities:                  |                        |                            |                 
|Incentive stock option plan shares              |                        | -                          |                 
|**Diluted EPS**                                 |                        |                            |                 
|Income available to common shareholders +       |                        |                            |                 
|assumed conversions                             | 149,392                | 288,242                    | 0.52            

---

Home Building Bancorp, Inc.
Notes to Consolidated Financial Statements
March 31, 2001 and 2000

Note 2:  Earnings Per Common Share, continued

|For the Three Months Ended March 31, 2000 |         |         |     
|----------------------------------------- | ------- | ------- | ----
|**Basic EPS,**                            |         |         |     
|Income available to common shareholders   | 57,594  | 284,476 | 0.20
|Effect of dilutive securities:            |         |         |     
|Incentive stock option plan shares        |         | -       |     
|**Diluted EPS**                           |         |         |     
|Income available to common shareholders + |         |         |     
|assumed conversions                       | 57,594  | 284,476 | 0.20
|                                          |         |         |     
|For the Six Months Ended March 31, 2000   |         |         |     
|**Basic EPS,**                            |         |         |     
|Income available to common shareholders   | 129,478 | 287,706 | 0.45
|Effect of dilutive securities:            |         |         |     
|Incentive stock option plan shares        |         | -       |     
|**Diluted EPS**                           |         |         |     
|Income available to common shareholders + |         |         |     
|assumed conversions                       | 129,478 | 287,706 | 0.45

Note 3:  Allowance for Loan Losses and Loan Loss Provision

The allowance for loan losses increased $24,000 to $113,000 for the six-month period ended March 31,
2001.  Activity in the allowance for loan losses was as follows:

| |             | For the six months ended March 31,
| | ----------- | ----------------------------------
| |             | 2001                              
| | Beginning   | $ 89,000                          
| |             |                                   
| | Provision   | 27,000                            
| | Charge-offs | (3,000)                           
| | Recoveries  | 0                                 
| |             |                                   
| | Ending      | $113,000                          

Note 4:  Insurance Receivable

During December of 1999, management discovered an employee fraud involving approximately
$350,000 in fictitious loans on savings accounts.  Of this amount, $340,000, combined with various
professional fees was initially recorded as an insurance receivable, because management believes the loss
was covered by the Company's fidelity bond.  The difference of $10,000, representing the deductible of
the Bank's fidelity bond, was recorded as an other noninterest expense in the quarter ended December
31, 1999.  During the claims

---

Home Building Bancorp, Inc.
Notes to Consolidated Financial Statements
March 31, 2001 and 2000

Note 4:  Insurance receivable, continued

process, management wrote the receivable down to $298,000 based on the belief that interest on the
loans would not be recoverable under the insurance policy.  In December 2000, the company paid
approximately $344,000 representing the balance of the loans, plus certain interest. The interest portion
was recorded as loan interest income upon receipt.

---

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

**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
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.  At March 31, 2001, the Company had no significant assets
other than its equity investment in the bank's stock, cash, investments, and a loan to the Bank's Employee
Stock Ownership Plan ("ESOP").

Established in 1908, Home Building Savings Bank, FSB is a community oriented financial institution
offering a variety of financial services to meet the needs of the communities it serves. The Bank's primary
market area covers Daviess and Pike counties in southwestern Indiana. The Bank attracts deposits from the
general public and uses such deposits, together with borrowings and other funds, to originate one-to-four
family residential mortgage loans, automobile and consumer loans, and to a lesser extent commercial,
multifamily and construction real estate loans. The Bank also invests in US 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. General economic
conditions, the monetary and fiscal policies of federal agencies, and the policies of agencies that regulate
financial institutions also affect the operating results of the Bank. Interest rates on competing investments
and general market rates of interest influence the Bank's cost of funds. The demand for real estate loans and
other types of loans influence lending activities, 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**

During the six months ended March 31, 2001, total assets decreased approximately $1.6 million to $48.8
million from $47.2 million at September 30, 2000. Cash and due from banks increased $130,000, while
interest-bearing deposits increased $1.0 million. Net loans receivable increased $0.7 million, to $37.7 million
on March 31, 2001 from $37.0 million on September 30, 2000. The Company had $3.9 million in securities
available for sale and only $31,000 in held to maturity at March 31, 2001.

Total liabilities increased by approximately $1.5 million during the six-month period, to $42.3 million at
March 31, 2001 from $40.9 million at September 30, 2000. Of the increase, $2.0 million was related to the
additional advances from Federal Home Loan Bank, offset by a $0.5 million decline in total deposit
accounts.

---

Home Building Bancorp, Inc.
Management's Discussion and Analysis of
Financial Condition and Results of Operations
(continued)

**Results of Operations:****Comparison of the three and six months ended March 31, 2001 and 2000.**

**General.**The Company recorded a net profit of $76,000 for the quarter and $149,000 for the six months
ended March 31, 2001, compared to net profits of $58,000 and $129,000 for the same periods in 2000.
Results of operations for the second quarter were impacted by higher interest income and higher interest
expense. Year to date, these same trends were apparent but net interest income is up $81,000, year to date,
and up $57,000 for the quarter. Higher interest income was a result of a recovery from employee fraud
discovered in December 2000 and a recovery from a bad loan from 1995. Higher interest expense was a
result of an increase in deposits.

**Interest Income.**Total interest income increased $90,000, or 11.1%, to $900,000 for the three months ended
March 31, 2001, compared to the same period last year. Interest income on loans increased $75,000 for the
three months ended March 31, 2001 compared to a year ago due to higher loan volumes, and a recovery of
$25,000 of interest on an old problem loan. Higher volumes of deposits with other banks increased interest
from these sources by $12,000 for the most recent quarter compared to a year ago. The sources of interest
income reflect the changes in the asset mix, with a higher proportion of assets in loans and less in securities.
For the six-month period interest income increased $111,000, or 6.6%, to $1,798,000 compared to
$1,687,000 during the first six months of fiscal year 2000.

**Interest Expense.**Total interest expense increased $32,000, or 7.4%, to $469,000 for the most recent quarter
compared to a year ago. Interest on deposits increased $40,000 due to an increase of $2.5 million in total
deposits and interest expense on FHLB advances declined $8,000 due to lower funds borrowed.

The weighted average cost of deposits at March 31, 2001 was 4.55% compared to 4.61% at December 31,
2000. The overall cost of funds, including all FHLB advances, was 4.64% on March 31, 2001 compared to
4.69% on December 31, 2000.  These numbers reflect the Bank's ability to keep deposit rates stable despite
declining interest rates during the quarter. The Bank is able to compete aggressively for savings funds when
adequate spreads on loans or investments are available. FHLB advances have been an effective liability
management tool in the past as well.

**Net Interest Income.**  Net interest income, before provision for loan losses, increased $57,000, or 15.4%,
to $431,000 for the quarter compared to $373,000 a year ago. For the six month period ended March 31,
2001, average interest-earning assets were 109.4% of average interest bearing liabilities. Net interest income
has increased $81,000, 10.3%, year to date. Much of that increase is attributable to the insurance and problem
loan recoveries, but loan growth and a lower rate environment is having a notable positive effect in the
second quarter. Net loans receivable increased $0.7 million to $37.7 million at March 31, 2001 compared
to $37.0 million at September 30, 2000.

---

Home Building Bancorp, Inc.
Management's Discussion and Analysis of
Financial Condition and Results of Operations
(continued)

**Net Interest Income, continued**

Total deposits decreased during the six-month period by approximately $0.5 million to $36.4 million from
$36.9 million. The Bank's advances from the FHLB increased by $2.0 million to fund loan volume and due
to scheduled maturity of public funds. Additionally, the Company regularly bids on short-term funds, such
as short-term public funds. At any time the Company could decline to bid on such funds, and allow them to
be withdrawn if acceptable spreads are not available. The Company's liabilities are generally shorter in term
and subject to re-pricing more frequently than assets.

The Company continues to stress consumer and installment lending, shorter-term (15 years and under) fixed
rate mortgage loans, and adjustable rate mortgages. Investments involve shorter-term and adjustable
securities to respond to changing rates. The Company, as a thrift institution, continues to have exposure to
interest rate risk comparable to its peers. Based on the latest available OTS Interest Rate Risk Exposure
Report, the net present value of the Bank, as a percent of assets in the +200bp scenario, would be 10.8%.

**Nonperforming Assets and Provision for Loan Losses.**The provision for loan losses is a result of
management's periodic analysis of the adequacy of the Company's allowance for loan losses. During the
three-month period ended March 31, 2001 provision of $12,000 was recorded. The Company adjusts its
allowance in accordance with its Classified Assets Policy. The Company believes it has taken an appropriate
approach toward reserve levels, consistent with the Company's loan portfolio, its current level of reserves,
the economy, real estate values and interest rates. The Company has had a modest level of loan losses during
its history. As of March 31,2001, the Company's nonperforming assets totaled $141,000, or 0.29% of total
assets. At the same date, the Company's ratio of allowance for loan losses to nonperforming assets was
80.1%. Internally classified loans total $208,000 at March 31, 2000 compared to $357,000 at September 30,
2000. During the reserve analysis process, amounts of the allowance are allocated to specific loans based
on adverse classification or collateral value and to pools of loans based on historical loss experience. Based
on such analysis, the amount of unallocated reserve increased from $3,000 at September 30, 2000 to $30,000
at March 31, 2001. No assurance can be made that future losses will not exceed the estimated amounts,
thereby adversely affecting future results of operations. As of March 31, 2001 the Company's allowance for
loan losses was $113,000 compared to $89,000 on September 30, 2000. Over the six-month period  $3,000
in losses, net of recoveries, were recognized and $27,000 in additions were made to the loan loss reserve.

**Noninterest Income.**Noninterest income decreased $2,000, or 6.8%, to $26,000 for the most recent quarter
compared to the same quarter a year ago. For the six-month period noninterest income decreased $2,000, or
4.2%, to $52,000 for the period.

---

Home Building Bancorp, Inc.
Management's Discussion and Analysis of
Financial Condition and Results of Operations
(continued)

**Noninterest Expense.**Total noninterest expense increased $3,000, or 0.9%, to $314,000 for the latest quarter
compared to $311,000 for the same quarter a year ago. The increases were due primarily to higher occupancy
and equipment and professional fees, which were substantially offset by a decrease in advertising and other
expense. For the six months noninterest expense increased $5,000, to $631,000 compared to $626,000 for
the same period a year ago.

**Income Tax Expense.**Income tax expense was $54,000 for the most recent quarter compared to $32,000
for the same quarter a year ago. For the six months ended March 31, 2001, tax expense was $107,000
compared to $77,000 for the period a year ago. Tax expense reflects the level of profitability for the
respective periods.

**Liquidity and Capital Requirements.**Home Building's main sources of funds are deposits, loan and
investment repayments, fees and service charges, and Federal Home Loan Bank  (FHLB) advances. Federal
regulations require the Bank to maintain cash and eligible investments at levels that assure its ability to meet
demands for withdrawals and repayments of short-term borrowings. As of March 31, 2001, the Bank had
cash and due from banks, deposits, and securities available for sale equal to 22.8% of total deposits and
FHLB advances.

The Bank uses its capital resources to meet ongoing commitments, to fund maturing certificates of deposit
and deposit withdrawals, to invest, to fund existing and future loan commitments, to maintain liquidity, and
to meet operating expenses. The Bank anticipates it will have sufficient funds to meet current loan
commitments. At March 31, 2001, the Bank had outstanding commitments to extend credit totaling
$787,000. Management believes loan repayments, deposits, and other sources of funds will be adequate to
meet the Bank's foreseeable liquidity needs. FHLB advances may be used to take advantage of investment
opportunities, or as an alternative source of liquid funds, but are not relied upon in the regular course of
business.

Home Building Savings Bank is required to maintain specific amounts of regulatory capital pursuant to
federal regulations.  The table below presents the capital position at March 31, 2001, relative to the
regulatory capital requirements.

---

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

**Liquidity and Capital Requirements, continued**

|                               | Amount
(in thousands) | Percent of Assets
|------------------------------ | --------------------- | -----------------
|Tier 1 Core Capital            | $ 4,954               | 10.24%           
|Core Capital Requirement       | $ 1,935               | 4.00%            
|Excess                         | $ 3,019               | 6.24%            
|                               |                       |                  
|Total Capital                  | $ 5,067               | 18.41%           
|Risk-Based Capital Requirement | $ 2,202               | 8.00%            
|Excess                         | $ 2,865               | 10.41%           

**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.

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PART II. OTHER INFORMATION

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

| |                                           |                                                                                        |         |         
| | ----------------------------------------- | -------------------------------------------------------------------------------------- | ------- | --------
| | (a)  Annual meeting held January 15, 2001
| | (b)  Continuing Directors                
| |                                           | John B. Graham (elected at meeting)                                                   
| |                                           | C. Darrell Deem, DDS (elected at meeting)                                             
| |                                           | Blake L. Chambers                                                                     
| |                                           | Larry G. Wilson                                                                       
| |                                           | Gregory L. Haag                                                                       
| |                                           | James E. Scheid                                                                       
| | (c)  Results of annual meeting proposal  
| |                                           | (1)  Election of Directors                                                            
| |                                           | Name of Nominee                                                                        | For     | Withheld
| |                                           | John B. Graham (3-year term)                                                           | 231,951 | 13,613  
| |                                           | C. Darrell Deem (3-year term)                                                          | 231,951 | 13,613  
| |                                           | (2)  Proposal to ratify Crowe Chizek and Company, L.L.P. was passed at annual
meeting.
| |                                           | (3)  Proposal to ratify 2000 Omnibus Incentive Plan was passed at annual meeting.     
| | (d)  Not Applicable                      

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SIGNATURES

Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned thereunto duly authorized.

|               | **HOME BUILDING BANCORP, INC.** 
|-------------- | --------------------------------
|               | Registrant                      
|               |                                 
|               |                                 
|               |                                 
|Date:  5/10/01 | /s/ John B. Graham              
|               | John B. Graham, President       
|               |                                 
|               |                                 
|               |                                 
|Date: 5/10/01  | /s/ Debra K. Shields            
|               | Debra K. Shields, Vice President

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