<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 10-Q


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

                        For Quarter Ended MARCH 31, 2001

                        COMMISSION FILE NUMBER 000-24147


                            KILLBUCK BANCSHARES, INC.
             (Exact name of registrant as specified in its Charter)


         OHIO                                          34-1700284
         ----                                           ----------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)


                     165 N. MAIN STREET, KILLBUCK, OH 44637
                     --------------------------------------
              (Address of principal executive offices and zip code)


                                 (330) 276-2771
                                 --------------
              (Registrant's telephone number, including area code)


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 for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
                             YES  X                     NO
                                 ---                       ---

State the number of shares outstanding for each of the issuer's classes of
common equity as of the latest practicable date:

         Class:  Common Stock, no par value
         Outstanding at April 21, 2001:  697,579


<PAGE>   2



                            KILLBUCK BANCSHARES, INC.

                                      INDEX

<TABLE>
<CAPTION>
                                                                           Page Number
                                                                           -----------
<S>     <C>                                                                <C>
PART I. FINANCIAL INFORMATION

Item 1.    Financial Statements (Unaudited):

           Consolidated Balance Sheet as of
                March 31, 2001 and December 31, 2000                            3

           Consolidated Statements of Income for the
                three months ended March 31, 2001 and 2000                      4

           Consolidated Statements of Changes In Shareholders'
                Equity for the three months ended March 31, 2001                5

           Consolidated Statements of Cash Flows for the
                three months ended March 31, 2001 and 2000                      6

           Notes to Consolidated Financial Statements                           7

Item 2.    Management's Discussion and Analysis of Financial Condition
           And Results of Operations                                           8-13

PART II. OTHER INFORMATION

     Item 1.      Legal Proceedings                                              14

     Item 2.      Changes in Securities                                          14

     Item 3.      Default Upon Senior Securities                                 14

     Item 4.      Submissions of Matters to a Vote of Security Holders           14

     Item 5.      Other Information                                              14

     Item 6.      Exhibits and Reports on Form 8-K                               14

SIGNATURES                                                                       15
</TABLE>


                                                         -2-

<PAGE>   3



                    KILLBUCK BANCSHARES, INC. AND SUBSIDIARY
                     CONSOLIDATED BALANCE SHEET (UNAUDITED)
<TABLE>
<CAPTION>
                                                                                      March 31,         December 31,
                                                                                        2001                2000
                                                                                   --------------       -------------
<S>                                                                                <C>                  <C>
ASSETS
     Cash and cash equivalents:
         Cash and amounts due from depository institutions                          $  10,816,116       $   9,512,736
         Federal funds sold                                                            20,700,000          11,000,000
                                                                                    -------------       -------------
              Total cash and cash equivalents                                          31,516,116          20,512,736
                                                                                    -------------       -------------

     Investment securities:
         Securities available for sale                                                 36,116,505          47,477,388
         Securities held to maturity (market value of $37,859,321
          and $36,601,277)                                                             36,701,661          36,129,625
                                                                                    -------------       -------------
              Total investment securities                                              72,818,166          83,607,013
                                                                                    -------------       -------------

     Loans (net of allowance for loan losses of $2,208,590 and
      $2,358,759)                                                                     152,509,354         149,061,901

     Loans held for sale                                                                        0             520,000
     Premises and equipment, net                                                        4,744,969           4,528,169
     Accrued interest receivable                                                        2,238,937           1,885,665
     Other assets                                                                       1,816,782           1,884,545
                                                                                     ------------        ------------
              Total assets                                                           $265,644,324        $262,000,029
                                                                                     ============        ============

LIABILITIES
     Deposits:
         Noninterest bearing demand                                                 $  30,802,452       $  31,815,997
         Interest bearing demand                                                       27,145,522          27,833,483
         Money market                                                                   9,900,737          10,249,064
         Savings                                                                       29,279,002          28,493,290
         Time                                                                         125,769,557         120,776,058
                                                                                    -------------       -------------
              Total deposits                                                          222,897,270         219,167,892
     Federal Home Loan Bank advances                                                    5,923,326           6,197,930
     Short-term borrowings                                                              3,965,002           4,315,768
     Accrued interest and other liabilities                                               586,280             577,274
                                                                                    -------------       -------------
              Total liabilities                                                       233,371,878         230,258,864
                                                                                    -------------       -------------

SHAREHOLDERS' EQUITY
     Common stock - No par value: 1,000,000 shares authorized,
      718,431 issued                                                                    8,846,670           8,846,670
     Retained earnings                                                                 24,339,816          23,614,590
     Accumulated other comprehensive income                                               444,065             168,141
     Treasury stock, at cost (20,852 and 15,883 shares)                                (1,358,105)           (888,236)
                                                                                    -------------       -------------
              Total shareholders' equity                                               32,272,446          31,741,165
                                                                                    -------------       -------------

              Total liabilities and shareholders' equity                            $ 265,644,324       $ 262,000,029
                                                                                    =============       =============
</TABLE>

See accompanying notes to the consolidated financial statements.


                                                         -3-
<PAGE>   4



                    KILLBUCK BANCSHARES, INC. AND SUBSIDIARY
                  CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)
<TABLE>
<CAPTION>
                                                                               Three Months Ended
                                                                                    March 31,
                                                                           2001                    2000
                                                                       -----------               ----------
<S>                                                                    <C>                       <C>
INTEREST INCOME
     Interest and fees on loans                                        $ 3,719,864               $3,339,793
     Federal funds sold                                                    168,277                   79,659
     Investment securities:
         Taxable                                                           703,470                  697,178
         Exempt from federal income tax                                    400,531                  394,884
                                                                       -----------               ----------
              Total interest income                                      4,992,142                4,511,514
                                                                       -----------               ----------

INTEREST EXPENSE
     Deposits                                                            2,405,592                1,957,288
     Federal Home Loan Bank advances                                       102,195                  116,846
     Short term borrowings                                                  29,994                   36,915
                                                                       -----------               ----------
              Total interest expense                                     2,537,781                2,111,049
                                                                       -----------               ----------

NET INTEREST INCOME                                                      2,454,361                2,400,465

     Provision for loan losses                                              82,500                   60,000
                                                                       -----------               ----------

NET INTEREST INCOME AFTER PROVISION FOR LOAN  LOSSES                     2,371,861                2,340,465
                                                                       -----------               ----------
OTHER INCOME
     Service charges on deposit accounts                                   132,198                  115,606
     Gain on sale of loans, net                                             10,838                    2,077
     Other income                                                           22,295                   39,452
                                                                       -----------               ----------
              Total other income                                           165,331                  157,135
                                                                       -----------               ----------

OTHER EXPENSE
     Salaries and employee benefits                                        739,878                  674,761
     Occupancy and equipment expense                                       235,735                  215,794
     Professional fees                                                      89,820                   90,631
     Franchise tax                                                          98,026                   77,688
     Other expenses                                                        399,207                  335,577
                                                                       -----------               ----------
              Total other expense                                        1,562,666                1,394,451
                                                                       -----------               ----------

INCOME BEFORE INCOME TAXES                                                 974,526                1,103,149
     Income taxes                                                          249,300                  269,361
                                                                       -----------               ----------

NET INCOME                                                             $   725,226               $  833,788
                                                                       ===========               ==========

EARNING PER COMMON SHARE                                               $      1.04               $    1.18
                                                                       ===========               =========

AVERAGE SHARES OUTSTANDING                                                 698,661                 705,295
                                                                       ===========               =========

</TABLE>

See accompanying notes to the unaudited consolidated financial statements.


                                                         -4-


<PAGE>   5



                    KILLBUCK BANCSHARES, INC. AND SUBSIDIARY

      CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED)
                        THREE MONTHS ENDED MARCH 31, 2001
<TABLE>
<CAPTION>
                                                                     Accumulated
                                                                        Other                          Total
                                           Common       Retained     Comprehensive    Treasury      Shareholders'    Comprehensive
                                           Stock        Earnings        Income         Stock           Equity           Income
                                         ----------    ----------    ------------   -----------     ------------    --------------
<S>                                      <C>           <C>           <C>            <C>             <C>             <C>
BALANCE, DECEMBER 31, 2000               $8,846,670    $23,614,590     $168,141     $  (888,236)     $31,741,165
  Net income                                               725,226                                       725,226     $  725,226
  Purchase of Treasury stock                                                           (469,869)        (469,869)
  Other comprehensive income:
      Net unrealized gain on securities                                 275,924                          275,924        275,924
                                                                                                                     ----------
  Comprehensive income                                                                                               $1,001,150
                                         ----------    -----------     --------     -----------      -----------     ==========

BALANCE, MARCH 31, 2001                  $8,846,670    $24,339,816     $444,065     $(1,358,105)     $32,272,446
                                         ==========    ===========     ========     ===========      ===========
</TABLE>



See accompanying notes to the unaudited consolidated financial statements.

                                                         -5-


<PAGE>   6



                    KILLBUCK BANCSHARES, INC. AND SUBSIDIARY
                CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)
<TABLE>
<CAPTION>
                                                                                           Three Months Ended
                                                                                              March 31,
                                                                                       2001                   2000
                                                                                    ----------            -----------
<S>                                                                                 <C>                   <C>
OPERATING ACTIVITIES
     Net income                                                                     $   725,226           $   833,788
     Adjustments to reconcile net income to net cash provided by
      Operating activities:
         Provision for loan losses                                                       82,500                60,000
         Gain on sale of loans                                                                -                (2,077)
         Provision for depreciation and amortization                                    129,332               105,936
         Origination of loans held for sale                                          (1,059,900)             (525,700)
         Proceeds from the sale of loans                                              1,579,900               883,777
         Federal Home Loan Bank stock dividend                                          (18,100)              (15,800)
         Net change in:
              Accrued interest and other assets                                        (427,652)             (815,731)
              Accrued expenses and other liabilities                                      9,006                98,447
                                                                                    -----------           -----------
                  Net cash provided by operating activities                           1,020,312               622,640
                                                                                    -----------           -----------

INVESTING ACTIVITIES
     Investment securities available for sale:
         Proceeds from maturities and repayments                                     11,795,800             3,100,000
         Purchases                                                                            -            (2,000,000)
     Investment securities held to maturity:
         Proceeds from maturities and repayments                                        356,656                     -
         Purchases                                                                     (946,729)             (242,843)
     Net increase in loans                                                           (3,529,953)           (3,662,080)
     Purchase of premises and equipment                                                (326,845)             (234,757)
                                                                                    ------------          -----------
                  Net cash provided by (used in) investing activities                 7,348,929            (3,039,680)
                                                                                    ------------          -----------

FINANCING ACTIVITIES
     Net decrease in demand, money market and savings deposits                       (1,264,121)           (2,426,619)
     Net increase in time deposits                                                    4,993,499             4,926,216
     Repayment of Federal Home Loan Bank advances                                      (274,604)             (229,251)
     Net decrease in short term borrowings                                             (350,766)             (544,999)
     Purchase of Treasury stock                                                        (469,869)               (8,806)
                                                                                    ------------          -----------
              Net cash provided by financing activities                               2,634,139             1,716,541
                                                                                    ------------          -----------
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                                 11,003,380              (700,499)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                                     20,512,736            16,823,806
                                                                                    -----------           -----------
CASH AND CASH EQUIVALENTS AT END OF PERIOD                                          $31,516,116           $16,123,307
                                                                                    ===========           ===========

SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION
     Cash Paid During the Period For:
         Interest on deposits and borrowings                                        $ 2,550,356           $ 2,106,968
                                                                                    ===========           ===========
         Income taxes                                                               $         -           $         -
                                                                                    ===========           ===========
</TABLE>

See accompanying notes to the unaudited consolidated financial statements.


                                                         -6-

<PAGE>   7



                            KILLBUCK BANCSHARES, INC.
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


NOTE 1 - BASIS OF PRESENTATION

The consolidated financial statements include the accounts of Killbuck
Bancshares, Inc. (the "Company") and its wholly-owned subsidiary Killbuck
Savings Bank Company (the "Bank"). All significant intercompany balances and
transactions have been eliminated in the consolidation.

The accompanying reviewed consolidated financial statements have been prepared
in accordance with the instructions to Form 10-Q and, therefore, do not
necessarily include all information that would be included in audited financial
statements. The information furnished reflects all adjustments which are, in the
opinion of management, necessary for a fair statement of the results of
operations. All such adjustments are of a normal recurring nature. The results
of operations for the interim periods are not necessarily indicative of the
results to be expected for the full year.

These statements should be read in conjunction with the consolidated statements
of and for the year ended December 31, 2000 and related notes which are included
on the Form 10-K (file no. 000-24147)

NOTE 2 - EARNINGS PER SHARE

The Company currently maintains a simple capital structure; therefore, there are
no dilutive effects on earnings per share. As such, earnings per share are
calculated using the weighted number of shares for the period.


                                      -7-
<PAGE>   8



           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS

The Private Securities Litigation Reform Act of 1995 contains safe harbor
provisions regarding forward-looking statements. When used in this discussion,
the words "believes", "anticipates", "contemplates", "expects", and similar
expressions are intended to identify forward-looking statements. Such statements
are subject to certain risks and uncertainties, which could cause actual results
to differ materially from those projected. Those risks and uncertainties include
changes in interest rates, risks associated with the ability to control costs
and expenses, and general economic conditions. Killbuck Bancshares, Inc.
undertakes no obligation to publicly release the results of any revisions to
those forward-looking statements which may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.

The Company conducts no significant business or operations of its own other than
holding all of the outstanding stock of the Killbuck Savings Bank Company. As a
result, references to the Company generally refer to the Bank unless the context
indicates otherwise.

                               FINANCIAL CONDITION

Total assets at March 31, 2001 were approximately $265,644,000 compared to
$262,000,000 at December 31, 2000.

Cash and cash equivalents increased by $11,003,000 or 53.6% from December 31,
2000, to March 31, 2001, with federal funds sold increasing $9,700,000. This
increase improved the Bank's liquidity position for loan demand and for
available for sale investment security purchases at March 31, 2001.

Investment securities available for sale decreased by $11,361,000 or 23.9% from
December 31, 2000, as a result of maturities in excess of purchases, due to the
interest rates and terms being offered during the period being less favorable in
management's opinion. Investments held to maturity increased $572,000 or 1.6%.

Net loans increased by $3,447,000 or 2.3% from December 31, 2000, to March 31,
2001. An increase of $2,702,000 occurred in the commercial loan category while
real estate loan balances increased by $1,475,000 and consumer loan balances
decreased by $878,000.

Total deposits at March 31, 2001 were $222,897,000 compared to $219,168,000 at
December 31, 2000. Time deposits increased $4,993,000, demand accounts increased
$1,702,000 and money market and savings accounts decreased $437,000. Management
attributes these changes to normal transfers of funds within the deposit
accounts and disintermediation from the stock market.

Shareholders' Equity increased by $531,000 or 1.7%, which was mainly due to
earnings of $725,000 for the first three months of 2001 accentuated by a
$276,000 increase in the unrealized gain on securities included in other
comprehensive income and offset by the purchase of Treasury stock for $470,000.
Management monitors risk-based capital and leveraged capital ratios in order to
assess compliance of the regulatory guidelines. At March 31, 2001, the total
capital ratio was 18.93%; the Tier I capital ratio was 17.68%, and the leverage
ratio was 11.71%, compared to regulatory capital requirements of 8.00%, 4.00%
and 4.00% respectively. These ratios are well in excess of regulatory capital
requirements.


                                       -8-
<PAGE>   9

                              RESULTS OF OPERATIONS

          COMPARISON OF THE THREE MONTHS ENDED MARCH 31, 2001 AND 2000

Total interest income of $4,992,000 for the three month period ended March 31,
2001, compares to $4,512,000 for the same period in 2000, an increase of
$480,000 or 10.6%. The majority of the overall increase in total interest income
is attributed to an increase in interest and fees on loans of approximately
$380,000 or 79.2% of the overall increase. The increase in interest income
resulted primarily from an increase in the average volume of the underlying
principle balances of interest earning assets coupled with an increase in the
yield. See "Average Balance Sheet" for the three month periods ended March 31,
2001 and March 31, 2000.

Total interest expense of $2,538,000 for the three month period ending March 31,
2001, represents an increase of $427,000 from the $2,111,000 reported for the
same three month period in 2000. The increase in interest expense resulted
primarily from an increase in the average volume of the underlying principle
balances of interest bearing liabilities coupled with an increase in the yield.
See "Average Balance Sheet" for the three month periods ended March 31, 2001 and
March 31, 2000.

Net interest income of $2,454,000 for the three months ended March 31, 2001,
compares to $2,401,000 for the same three month period in 2000, an increase of
$53,000 or 2.2%.

Total other income for the three month period ended March 31, 2001, of $165,000
compares to $157,000 for the same three month period in 2000, an increase of
$8,000 or 5.1%. Gains on sale of loans increased $9,000 due to increased
activity caused by declining fixed loan rates and other income decreased $17,000
due to a decrease of $18,000 in alternative investment income. The decrease in
alternative investment income is attributable to the absence of permanent
personnel in this area.

Total other expense of $1,563,000 for the three months ended March 31, 2001,
compares to $1,394,000 for the same three month period in 2000. This represents
an increase of $169,000 or 12.1%. Salary and employee benefits increased
approximately $65,000 due to additional staff being hired as a result of the
addition of the branch in Sugarcreek, Ohio and normal increases in salaries and
employee benefits. The increases in the remaining expense accounts were
attributable to the branch in Sugarcreek, Ohio becoming fully operational in the
spring of 2000 and to expenditures that are considered normal and recurring in
nature.

Net income for the three month period ended March 31, 2001, was $725,000, a
decrease of $109,000 or 13.1% from the $834,000 reported at March 31, 2000.


                                       -9-

<PAGE>   10

                                    LIQUIDITY


Management monitors projected liquidity needs and determines the level desirable
based in part on the Company's commitments to make loans and management's
assessment of the Company's ability to generate funds.

The primary sources of funds are deposits, repayment of loans, maturities of
investments, funds provided from operations and advances from the FHLB of
Cincinnati. While scheduled repayments of loans and maturities of investment
securities are predictable sources of funds, deposit flows and loan repayments
are greatly influenced by the general level of interest rates, economic
conditions and competition. The Company uses its sources of funds to fund
existing and future loan commitments, to fund maturing time deposits and demand
deposit withdrawals, to invest in other interest-earning assets, to maintain
liquidity, and to meet operating expenses.

Cash and amounts due from depository institutions and federal funds sold totaled
$31,516,000 at March 31, 2001. These assets provide the primary source of
liquidity for the Company. In addition, management has designated a substantial
portion of the investment portfolio, $36,117,000 as available for sale and has
an available unused line of credit of $14,100,000 with the Federal Home Loan
Bank of Cincinnati to provide additional sources of liquidity at March 31, 2001.
As of March 31, 2001, the Company had commitments to fund loans of approximately
$16,159,000.

Cash was provided during the three month period ended March 31, 2001, mainly
from operating activities of $1 million, a net increase in deposits of $3.7
million and the maturities and repayments of investment securities of $12.2
million. Cash was used during the three month period ended March 31, 2001,
mainly to fund a net increase in loans of $3.5 million, and for the purchase of
investment securities of $.9 million. In addition $.6 million was also used to
reduce Federal Home Loan Bank advances and short term borrowings during the
first three months of 2001 and $.5 million was used to purchase Treasury Stock.
Cash and cash equivalents totaled $31.5 million at March 31, 2001, an increase
of $11.0 million from $20.5 million at December 31, 2000.

Management is not aware of any conditions, including any regulatory
recommendations or requirements, which would adversely affect its liquidity or
ability to meet its funding needs in the normal course of business.


                                      -10-
<PAGE>   11

                                  RISK ELEMENTS


The table below presents information concerning nonperforming assets including
nonaccrual loans, renegotiated loans, loans 90 days or more past due, other real
estate loans and repossessed assets at March 31, 2001, and December 31, 2000. A
loan is classified as nonaccrual when, in the opinion of management, there are
doubts about collectability of interest and principal. At the time the accrual
of interest is discontinued, future income is recognized only when cash is
received. Renegotiated loans are those loans which terms have been renegotiated
to provide a reduction or deferral of principal or interest as of result of the
deterioration of the borrower.
<TABLE>
<CAPTION>
                                                                      March 31,      December 31,
                                                                        2001            2000
                                                                    ------------     ------------
                                                                        (dollars in thousands)
<S>                                                                     <C>              <C>
Loans on nonaccrual basis                                               $341             $298
Loans past due 90 days or more                                           206              340
Renegotiated loans                                                         -                -
                                                                        ----             ----
              Total nonperforming loans                                  547              638

Other real estate                                                          -                -
Repossessed assets                                                         -                -
                                                                        ----             ----
              Total nonperforming assets                                $547             $638
                                                                        ====             ====

Nonperforming loans as a percent of total loans                        0.35%            0.42%

Nonperforming loans as a percent of total assets                       0.21%            0.24%

Nonperforming assets as a percent of total assets                      0.21%            0.24%
</TABLE>

Management monitors impaired loans on a continual basis. As of March 2001,
impaired loans had no material effect on the Company's financial position or
results from operations.

The allowance for loan losses at March 31, 2001, totaled $2,209,000 or 1.43% of
total loans as compared to approximately $2,359,000 or 1.55% at December 31,
2000. Provisions for loan losses were $82,500 for the three months ended March
31, 2001 and $60,000 for the three months ended March 31, 2000.

The level of funding for the provision is a reflection of the overall loan
portfolio. Nonperforming loans consist of approximately $186,000 in one to four
family residential mortgages, $169,000 in commercial real estate, $161,000 in
commercial loans and $31,000 in consumer loans. The collateral requirements on
such loans reduce the risk of potential losses to an acceptable level in
management's opinion.


                                      -11-
<PAGE>   12

Management performs a quarterly evaluation of the allowance for loan losses. The
evaluation incorporates internal loan review, actual historical losses, as well
as any negative economic trends in the local market. The evaluation is presented
to and approved by the Board of Directors. Although the Company maintains its
allowance for loan losses at a level that it considers to be adequate to provide
for the inherent risk of loss in its portfolio, there can be no assurance that
future losses will not exceed estimated amounts or that additional provisions
for loan losses will not be required in future periods.



                                      -12-

<PAGE>   13


                                     AVERAGE BALANCE SHEET
<TABLE>
<CAPTION>
                                                            March 31, 2001                             March 31, 2000
                                            ------------------------------------------     -------------------------------------
                                                Average                         Yield/        Average                      Yield/
                                                Balance          Interest        Rate         Balance       Interest        Rate
                                            ------------         ---------       ----      ------------    ----------       ----
<S>                                          <C>                 <C>            <C>         <C>            <C>              <C>
Assets
Interest earnings assets
Loans (2)(2)(3)                              $153,620,485        $3,719,864     9.69%       $144,793,844   $3,339,793       9.23%
Securities-taxable (4)                         42,857,115           685,302     6.40%         43,331,082      682,476       6.30%
Securities-nontaxable                          34,436,009           400,531     4.65%         32,987,717      394,884       4.79%
Securities-equity (4)(5)                        1,336,448            18,168     5.44%          1,193,235       14,702       4.93%
Federal funds sold                             14,239,439           168,277     4.73%          5,687,208       79,659       5.60%
                                             ------------        ----------     ----        ------------   ----------       -----
   Total interest earnings assets             246,489,496         4,992,142     8.10%        227,993,086    4,511,514       7.92%
                                             ------------         ---------     ----        ------------   ----------       -----
Noninterest earning assets
Cash and due from other institutions            7,429,300                                      7,406,413
Premises and equipment, net                     4,677,888                                      3,975,932
Accrued interest                                1,500,234                                      1,372,428
Other assets                                    2,350,782                                      2,345,541
Less allowance for loan losses                 (2,188,589)                                    (1,922,662)
                                             ------------                                   ------------
   Total noninterest earnings assets           13,769,615                                     13,177,652
                                             ------------                                   ------------
     Total Assets                            $260,259,111                                   $241,170,738
                                             ===========                                    ============

Liabilities and Shareholders Equity
Interest bearing liabilities:
Interest bearing demand                      $ 27,740,407           165,877     2.39%       $ 29,981,895      190,625       2.54%
Money market accounts                          10,951,941            99,816     3.65%          9,911,350       83,982       3.39%
Savings deposits                               28,531,479           220,704     3.09%         27,902,132      214,567       3.08%
Time deposits                                 123,889,809         1,919,195     6.20%        107,148,377    1,468,114       5.48%
Short term borrowings                           3,680,125            29,994     3.26%          4,048,988       36,915       3.65%
Federal Home Loan Advances                      6,024,880           102,195     6.78%          6,947,056      116,846       6.73%
                                             ------------        ----------     ----        ------------   ----------       -----
   Total interest bearing liabilities         200,818,641         2,537,781     5.05%        185,939,798    2,111,049       4.54%
                                             ------------        ----------     ----        ------------   ----------       -----

Noninterest bearing liabilities:
Demand deposits                                26,624,575                                     25,962,940
Accrued expenses and other liabilities          1,070,982                                        433,452
                                             ------------                                   ------------
   Total noninterest bearing liabilities       27,695,557                                     26,396,392
                                             ------------                                   ------------
Shareholder's equity                           31,744,913                                     28,834,548
                                             ------------                                   ------------
     Total Liabilities and Equity            $260,259,111                                   $241,170,738
                                             ============                                   ============

Net interest income                                              $2,454,361                                $2,400,465
                                                                 ==========                                ==========

Interest rate spread (6)                                                        3.05%                                       3.38%
                                                                                ====                                        ====

Net yield on interest earning assets (7)                                        3.98%                                       4.21%
                                                                                ====                                        ====
</TABLE>

(1)  For purposes of these computations, the daily average loan amounts
     outstanding are net of deferred loan fees.
(2)  Included in loan interest income are loan related fees of $77,093 and
     $76,833 in 2001 and 2000, respectively.
(3)  Nonaccrual loans are include in loan totals and do not have a material
     impact on the information presented.
(4)  Average balance is computed using the carrying value of securities.
     The average yield has been computed using the historical amortized cost
     average balance for available for sale securities.
(5)  Equity securities is comprised of common stock of the Federal Home Loan
     Bank, Federal Reserve Bank and Great Lakes Bankers Bank.
(6)  Interest rate spread represents the difference between the average yield
     on interest earning assets and the average cost of interest bearing
     liabilities.
(7) Net yield on interest earning assets represents net interest income as a
    percentage of average interest earning assets.


                                      -13-


<PAGE>   14

                           PART II - OTHER INFORMATION


Item 1 - Legal Proceedings

         None

Item 2 - Changes in the rights of the Company's security holders

         None

Item 3 - Defaults by the Company on its senior securities

         None

Item 4 - Results of votes of security holders

         None

Item 5 - Other Information

         None

Item 6 - Exhibits and Reports on Form 8-K

         a) The following exhibits are included in this report or incorporated
            herein by reference:
            3(i)  Articles of Incorporation of Killbuck Bancshares, Inc.*
            3(ii) Code of Regulations of Killbuck Bancshares, Inc.*
            10    Agreement and Plan of Reorganization with Commercial and
                  Savings Bank Co.*
            21    Subsidiaries of Registrant*
            99    Independent Accountant's Report

           b) No reports on Form 8-K were filed during the quarter of the period
              covered by this report.

              *Incorporated by reference to an identically numbered exhibit to
               the Form 10 (file No. 0-24147) filed with SEC on April 30, 1998
               and subsequently amended on July 8, 1998 and July 31, 1998.


                                      -14-


<PAGE>   15

                                   SIGNATURES


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

                                              Killbuck Bancshares, Inc.


Date:  _______________                              By:/s/Luther E. Proper
                                                    ----------------------------
                                                    Luther E. Proper
                                                    President and
                                                    Chief Executive Officer



Date:  ________________                             By:/s/Diane Knowles
                                                    ----------------------------
                                                    Diane Knowles
                                                    Chief Financial Officer



                                      -15-