SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                -----------------

                                    FORM 10-Q

                                   (Mark One)

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

                For the quarterly period ended December 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 0-21491

                            Big Foot Financial Corp.
             (Exact name of registrant as specified in its charter)

                     ILLINOIS                                 36-410848-0
           (State or other jurisdiction of                   (IRS Employer
            incorporation or organization)                 Identification No.)

                       1190 RFD, Long Grove, IL 60047-7304
                    (Address of principal executive offices)
                                   (Zip Code)
                                 (847) 634-2100
               (Registrant's telephone number including area code)
                                       NA
              (Former name, former address and former fiscal year,
                          if changed from 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 twelve months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirement for the past 90 days. Yes  X  No
                                             ---    ---

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

                                                       OUTSTANDING AT
                            CLASS                     FEBRUARY 12, 2002
                            -----                     -----------------
          Common Stock, Par Value $.01                    1,509,168

<PAGE>


                                TABLE OF CONTENTS

                         PART I - FINANCIAL INFORMATION


<TABLE>
<CAPTION>

<S>        <C>                                                                                    <C>
ITEM 1.    FINANCIAL STATEMENTS OF BIG FOOT FINANCIAL CORP.

           Consolidated Statements of Financial Condition (Unaudited)
           December 31, 2001 and June 30, 2001............................................        Page 3

           Consolidated Statements of Earnings (Unaudited) - Three and Six months
           ended December 31, 2001 and 2000...............................................        Page 4

           Consolidated Statements of Cash Flows (Unaudited) - Six months
           ended December 31, 2001 and 2000...............................................        Page 5

           Notes to Unaudited Consolidated Financial Statements...........................        Page 6

ITEM 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
           AND RESULTS OF OPERATIONS......................................................        Page 8

ITEM 3.    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.....................        Page 14


                                           PART II - OTHER INFORMATION

ITEM 1.    LEGAL PROCEEDINGS..............................................................        Page 14

ITEM 2.    CHANGES IN SECURITIES AND USE OF PROCEEDS......................................        Page 14

ITEM 3.    DEFAULTS UPON SENIOR SECURITIES................................................        Page 14

ITEM 4.    SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS............................        Page 14

ITEM 5.    OTHER INFORMATION..............................................................        Page 15

ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K...............................................        Page 15

           SIGNATURES


</TABLE>
                                       2
<PAGE>





                     BIG FOOT FINANCIAL CORP. AND SUBSIDIARY
                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                                   (Unaudited)
                        (In thousands, except share data)


<TABLE>
<CAPTION>

                                                                                      DECEMBER 31,        JUNE 30,
                                                                                          2001              2001
                                                                                      ------------        --------
<S>                                                                                    <C>                <C>
                                      ASSETS
Cash and due from banks ........................................................       $   2,862          $   2,641
Interest-earning deposits ......................................................          16,931              9,170
Mortgage-backed securities held-to-maturity, at amortized cost
  (fair value of $6,339 at December 31, 2001 and $8,111 at June 30, 2001) ......           6,249              8,080
Mortgage-backed securities available-for-sale, at fair value ...................          10,481             14,328
Investment securities available-for-sale, at fair value ........................           6,186              6,442
Investment securities held-to-maturity, at cost ................................           3,000              3,000
Loans receivable, net ..........................................................         172,755            170,188
Accrued interest receivable ....................................................           1,054              1,009
Stock in Federal Home Loan Bank of Chicago, at cost ............................           3,817              3,699
Office properties and equipment, net ...........................................           4,054              4,215
Prepaid expenses and other assets ..............................................             292                872
                                                                                       ---------          ---------
Total assets ...................................................................       $ 227,681          $ 223,644
                                                                                       =========          =========

                                   LIABILITIES
Noninterest-bearing NOW accounts ...............................................       $   7,297          $   6,918
Interest-bearing NOW accounts ..................................................           9,578             10,272
Money market demand accounts ...................................................          10,944              9,460
Passbook accounts ..............................................................          35,806             35,396
Certificates of deposit ........................................................          69,195             66,161
                                                                                       ---------          ---------
Total savings deposits .........................................................         132,820            128,207

Borrowed money .................................................................          61,000             61,000
Advance payments by borrowers for taxes and insurance ..........................           2,049              2,240
Accrued interest payable and other liabilities .................................           3,679              4,115
                                                                                       ---------          ---------
Total liabilities ..............................................................         199,548            195,562
                                                                                       ---------          ---------


                               STOCKHOLDERS' EQUITY
Preferred stock, $.01 par value, 2,000,000 shares authorized; none issued ......              --                 --
Common stock, $.01 par value, 8,000,000 shares authorized; 2,512,750 issued ....              25                 25
Treasury stock, at cost (1,003,582 shares at December 31, 2001 and 965,082
     shares at June 30, 2001) ..................................................         (13,179)           (12,582)
Additional paid-in capital .....................................................          24,488             24,437
Retained earnings-substantially restricted .....................................          17,881             17,580
Common stock acquired by Employee Stock Ownership Plan .........................          (1,106)            (1,106)
Common stock acquired by Recognition and Retention Plan ........................            (550)              (709)
Accumulated other comprehensive income .........................................             574                437
                                                                                       ---------          ---------
Total stockholders' equity .....................................................          28,133             28,082
                                                                                       ---------          ---------
Total liabilities and stockholders' equity .....................................       $ 227,681          $ 223,644
                                                                                       =========          =========

</TABLE>


     (SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS)


                                       3

<PAGE>




                     BIG FOOT FINANCIAL CORP. AND SUBSIDIARY
                       CONSOLIDATED STATEMENTS OF EARNINGS
                                   (Unaudited)
                      (In thousands, except per share data)

<TABLE>
<CAPTION>



                                                                          FOR THE THREE MONTHS       FOR THE SIX MONTHS
                                                                                 ENDED                     ENDED
                                                                              DECEMBER 31,              DECEMBER 31,
                                                                          --------------------       ------------------
                                                                           2001          2000         2001         2000
                                                                          ------        ------       ------       ------
<S>                                                                      <C>           <C>          <C>           <C>
                          INTEREST INCOME
Mortgage-backed securities held-to-maturity .......................      $   105       $   154      $   225       $   344
Mortgage-backed securities available-for-sale .....................          170           287          372           591
Investment securities .............................................          149           145          305           281
Loans receivable ..................................................        3,066         2,899        6,136         5,709
Interest-earning deposits .........................................           51            78          104           117
Federal Home Loan Bank of  Chicago stock ..........................           55            72          113           137
                                                                         -------       -------      -------       -------
Total interest income .............................................        3,596         3,635        7,255         7,179
                                                                         -------       -------      -------       -------


                          INTEREST EXPENSE
Savings deposits ..................................................        1,146         1,094        2,368         2,120
Borrowed money ....................................................          744         1,062        1,554         2,097
                                                                         -------       -------      -------       -------
Total interest expense ............................................        1,890         2,156        3,922         4,217
                                                                         -------       -------      -------       -------

Net interest income before provision for loan losses ..............        1,706         1,479        3,333         2,962
Provision for loan losses .........................................           --            --           --            --
                                                                         -------       -------      -------       -------
Net interest income after provision for loan losses ...............        1,706         1,479        3,333         2,962
                                                                         -------       -------      -------       -------


                         NONINTEREST INCOME
Service fees ......................................................           93            67          167           132
Loss on sale of investment securities available-for-sale ..........          (48)           --          (48)           --
Other .............................................................           11            10           21            33
                                                                         -------       -------      -------       -------
Total noninterest income ..........................................           56            77          140           165
                                                                         -------       -------      -------       -------

                        NONINTEREST EXPENSE
Compensation and benefits .........................................          731           679        1,468         1,448
Office occupancy ..................................................          264           256          559           514
Federal deposit insurance premiums ................................            6             6           12            12
Professional services .............................................          235           129          351           307
Other .............................................................          221           211          395           377
                                                                         =======       =======      =======       =======
Total noninterest expense .........................................        1,457         1,281        2,785         2,658
                                                                         -------       -------      -------       -------


Income before income taxes ........................................          305           275          688           469
Income tax expense ................................................           96            75          219           112
                                                                         -------       -------      -------       -------

                             NET INCOME                                  $   209       $   200      $   469       $   357
                                                                         =======       =======      =======       =======


-------------------------------------------------------------------------------------------------------------------------
Earnings per share:
   Basic...........................................................      $  0.15      $  0.12       $  0.33      $   0.22
   Diluted ........................................................         0.15         0.12          0.33          0.22

</TABLE>


     (SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS)

                                       4

<PAGE>





                     BIG FOOT FINANCIAL CORP. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                 (In thousands)

<TABLE>
<CAPTION>

                                                                                                                  FOR THE
                                                                                                              SIX MONTHS ENDED
                                                                                                                 DECEMBER 31,
                                                                                                          -------------------------
CASH FLOWS FROM OPERATING ACTIVITIES:                                                                       2001             2000
                                                                                                          --------         --------
<S>                                                                                                       <C>              <C>

Net income .......................................................................................        $    469         $    357
Adjustments to reconcile net income to net cash provided by in operating activities:
Depreciation and amortization ....................................................................             211              228
Market adjustment for committed Employee Stock Ownership Plan shares .............................              51               17
Amortization of award of Recognition and Retention Plan shares ...................................             159              120
Loss on sale of investment securities available-for-sale .........................................              48               --
Federal Home Loan Bank of Chicago stock dividends ................................................            (118)            (120)
Net amortization of deferred loan fees ...........................................................             (58)             (20)
Net amortization of discounts and premiums .......................................................              50               86
(Increase) decrease in accrued interest receivable ...............................................             (45)               1
Decrease in prepaid expenses and other assets ....................................................             580               97
Decrease in accrued interest payable and other liabilities, net ..................................            (493)            (466)
                                                                                                          --------         --------
Net cash provided by operating activities ........................................................             854              300
-----------------------------------------------------------------------------------------------------------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
Origination of loans receivable ..................................................................         (19,225)         (15,065)
Principal repayment of loans receivable ..........................................................          16,716            6,899
Principal repayments on mortgage-backed securities held-to-maturity ..............................           1,805            8,650
Principal repayments on mortgage-backed securities available-for-sale ............................           3,905            2,233
Purchase of investment securities available-for-sale .............................................              --             (252)
Proceeds from sale of investment securities available-for-sale ...................................             320               --
Purchase of stock in Federal Home Loan Bank of Chicago ...........................................              --             (145)
Proceeds from sale of foreclosed real estate .....................................................              --               78
Purchase of office properties and equipment ......................................................             (50)            (116)
                                                                                                          --------         --------
Net cash provided by investing activities ........................................................           3,471            2,282
-----------------------------------------------------------------------------------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in savings deposits .................................................................           4,613            7,168
Net decrease in borrowed money ...................................................................              --           (1,000)
Increase (decrease) in advance payments by borrowers for taxes and insurance .....................            (191)             108
Payment of cash dividend .........................................................................            (168)            (160)
Purchase of treasury stock .......................................................................            (597)            (300)
                                                                                                          --------         --------
Net cash provided by financing activities ........................................................           3,657            5,816
-----------------------------------------------------------------------------------------------------------------------------------
Net increase in cash and cash equivalents ........................................................           7,982            8,398
Cash and cash equivalents at the beginning of the period .........................................          11,811            6,334
                                                                                                          --------         --------
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD ...............................................        $ 19,793         $ 14,732
-----------------------------------------------------------------------------------------------------------------------------------

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
 Cash paid during the period for:
            Interest .............................................................................        $  4,024         $  4,129
            Income taxes .........................................................................             205               65

</TABLE>


     (SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS)

                                       5

<PAGE>


                     BIG FOOT FINANCIAL CORP. AND SUBSIDIARY

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

(1)  BASIS OF PRESENTATION

         The accompanying unaudited consolidated financial statements include
the accounts of Big Foot Financial Corp. (the "Company") and its wholly-owned
subsidiary, Fairfield Savings Bank, F.S.B. (the "Bank") as of December 31, 2001
and June 30, 2001 and for the three and six month periods ended December 31,
2001 and 2000. Material intercompany accounts and transactions have been
eliminated in consolidation. The accompanying unaudited consolidated financial
statements have been prepared in accordance with generally accepted accounting
principles for interim financial information and with the instructions to Form
10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of
the information and footnotes required by generally accepted accounting
principles for complete financial statements. The preparation of financial
statements in conformity with accounting principles generally accepted in the
United States of America requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosures of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates. In the opinion of management
the unaudited consolidated financial statements include all necessary
adjustments, consisting of normal recurring accruals, necessary for a fair
presentation for the periods presented. These consolidated financial statements
should be read in conjunction with the audited consolidated financial statements
for the year ended June 30, 2001, and the notes thereto included in the
Company's 2001 Annual Report on Form 10-K.

         The Company believes that the disclosures are adequate to make the
information presented not misleading; however, the results for the periods
presented are not necessarily indicative of results to be expected for the
entire fiscal year.

(2)  EARNINGS PER SHARE

         Earnings per share of common stock are calculated according to the
guidelines of the Financial Accounting Standards Board's ("FASB") Statement of
Financial Accounting Standards ("SFAS") No. 128 "Earnings per Share" ("Statement
128"). ESOP shares are only considered outstanding for earnings per share
calculations when they are released or committed to be released. Presented below
are the calculations for basic and diluted earnings per share:




                                       6

<PAGE>

<TABLE>
<CAPTION>

                                                                         THREE MONTHS ENDED                  SIX MONTHS ENDED
                                                                             DECEMBER 31,                       DECEMBER 31,
                                                                    ----------------------------        ----------------------------
                                                                       2001              2000              2001              2000
                                                                    ----------        ----------        ----------        ----------
     <S>                                                            <C>               <C>              <C>                <C>

     BASIC:
     Net income ............................................        $  209,000        $  200,000        $  469,000        $  357,000
     Weighted average shares outstanding ...................         1,406,235         1,601,720         1,411,234         1,604,840
     Basic earnings per share ..............................              0.15              0.12              0.33              0.22

     DILUTED:
     Net income ............................................        $  209,000        $  200,000        $  469,000        $  357,000
     Weighted average shares outstanding ...................         1,406,235         1,601,720         1,411,234         1,604,840
     Effect of dilutive stock options outstanding ..........             1,503                --             1,377                --
     Diluted weighted average shares outstanding ...........         1,407,738         1,601,720         1,412,611         1,604,840
     Diluted earnings per share ............................              0.15              0.12              0.33              0.22

</TABLE>



(3)  COMPREHENSIVE INCOME

         The Company's comprehensive income for the three and six month periods
ended December 31, 2001 and 2000 is as follows:


<TABLE>
<CAPTION>

                                                                               THREE MONTHS ENDED             SIX MONTHS ENDED
                                                                                  DECEMBER 31,                   DECEMBER 31,
                                                                            --------------------------------------------------------
                                                                               2001            2000           2001           2000
                                                                            ----------      ----------     ----------     ----------
<S>                                                                         <C>             <C>            <C>            <C>
Net income ............................................................     $  209,000      $  200,000     $  469,000     $  357,000
Other comprehensive income (loss), net of tax:
   Unrealized holding gains (losses) arising during the period ........       (136,000)        455,000        105,000        923,000
    Less: reclassification adjustment for net loss realized
             in net income ............................................         32,000              --         32,000             --
                                                                            ----------      ----------     ----------     ----------
Comprehensive income ..................................................     $  105,000      $  655,000     $  606,000     $1,280,000
                                                                            ==========      ==========     ==========     ==========

</TABLE>


(4)  DIVIDEND DECLARATION

         On November 20, 2001, the Board of Directors declared a quarterly
dividend of $.06 per share, which was paid on December 14, 2001 to stockholders
of record on November 30, 2001.

(5)  STOCK REPURCHASE PROGRAMS

         The Stock Repurchase Programs adopted by the Company authorized the
repurchase of 1,016,099 shares, or over 40 percent of the 2,512,750 shares of
common stock issued in the Company's initial public offering. At December 31,
2001, 1,003,582 shares have been repurchased at an average cost of $13.13 per
share. Additional authorizations to repurchase stock may be made from time to
time at the discretion of the Board of Directors. Management continues to
believe that stock repurchase programs are an effective capital management tool
and provide enhanced value to both the Company and its stockholders.


                                       7
<PAGE>



                                     ITEM 2
                                     ------
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS

FORWARD LOOKING STATEMENTS
--------------------------

         This Quarterly Report on Form 10-Q contains certain forward looking
statements consisting of estimates with respect to the financial condition,
results of operations and business of the Company that are subject to various
factors which could cause actual results to differ materially from these
estimates. These factors include: changes in general, economic and market
conditions; the development of an adverse interest rate environment that
adversely affects the interest rate spread or other income anticipated from the
Company's operations and investments; depositor and borrower preferences; and
unexpected increases in non-interest and other operational expenses. The Company
disclaims any obligation to publicly announce future events or developments
which may affect the forward-looking statements contained herein.

GENERAL

         The Company's principal business is its investment in the Bank, which
is a community-oriented financial institution providing a variety of financial
services to the communities which it serves. The Bank's principal business
consists of gathering savings deposits from the general public within its market
area and investing those funds primarily in mortgage loans secured by one- to
four-family owner occupied properties, mortgage-backed securities and
obligations of the U.S. Government. To a lesser extent, the Bank makes
multifamily residential loans, commercial real estate loans, land, construction
and development loans, consumer loans and commercial lines of credit. The Bank's
revenues are derived principally from interest on mortgage loans and interest
and dividends on investments, mortgage-backed securities and, to a much lesser
extent, short-term investments. The Bank also derives income from fees and
service charges. The Bank's primary sources of funds are savings deposits and
advances from the Federal Home Loan Bank of Chicago (the "FHLB"). The Bank does
not have any subsidiaries.

         The selected financial ratios and other data of the Company set forth
in the table on the next page are derived in part from, and should be read in
conjunction with, the Unaudited Consolidated Financial Statements of the Company
presented elsewhere in this report.


                                       8
<PAGE>





  FINANCIAL HIGHLIGHTS
  (Dollars in thousands, except per share data)

<TABLE>
<CAPTION>


                                                                                   DECEMBER 31,          JUNE 30,
                                                                                      2001                 2001
                                                                                   ------------          --------
<S>                                                                                  <C>                 <C>
SELECTED FINANCIAL CONDITION DATA:
   Total assets .........................................................            $227,681            $223,644
   Loans receivable (net) ...............................................             172,755             170,188
   Allowance for loan losses ............................................                 300                 300
   Mortgage-backed securities ...........................................              16,730              22,408
   Savings deposits .....................................................             132,820             128,207
   Borrowed funds .......................................................              61,000              61,000
   Stockholders' equity .................................................              28,133              28,082

SELECTED FINANCIAL RATIOS:
    Bank Capital ratios (1):
        Tangible ........................................................               10.10 %             10.14 %
        Core ............................................................               10.10               10.14
        Risk-based ......................................................               21.61               21.48
    Consolidated equity to assets at end of period ......................               12.36               12.56
    Non-performing assets as a percent of total assets ..................                0.11                0.05
    Allowance for loan losses as a percent of total loans ...............                0.17                0.18
    Allowance for loan losses as a percent of non-performing loans ......              118.58              267.86

</TABLE>

<TABLE>
<CAPTION>

                                                                            AT OR FOR THE                     AT OR FOR THE
                                                                          THREE MONTHS ENDED                 SIX MONTHS ENDED
                                                                             DECEMBER 31,                      DECEMBER 31,
                                                                      ---------------------------       ---------------------------
                                                                         2001             2000             2001             2000
                                                                      ----------       ----------       ----------       ----------
<S>                                                                   <C>              <C>              <C>              <C>

SELECTED OPERATING DATA:
   Net interest income before provision for loan losses ........      $    1,706       $    1,479       $    3,333       $    2,962
   Net income ..................................................             209              200              469              357

SELECTED FINANCIAL RATIOS:
    Return on average assets (2) ...............................            0.37%            0.37%            0.41%            0.33%
    Return on average stockholders' equity (2) .................            2.97             2.73             3.34             2.46
    Noninterest expense to average assets (2) ..................            2.56             2.37             2.46             2.47

PER SHARE DATA:
    Basic earnings per share ...................................      $     0.15        $    0.12       $     0.33       $     0.22
    Diluted earnings per share .................................            0.15             0.12             0.33             0.22
    Book value per share .......................................           18.64            17.19            18.64            17.19
    Cash dividends per share ...................................            0.06             0.05             0.12             0.10

STOCK QUOTES:
    High .......................................................      $   16.950        $  12.563       $   16.950       $   12.563
    Low ........................................................          13.740           11.750           12.900           10.125
    At December 31 .............................................          15.799           12.000           15.799           12.000

</TABLE>


---------------------------------------------------------------
(1) Fairfield Savings Bank, FSB only.
(2) Three and six month results have been annualized.


                                       9

<PAGE>


    COMPARISON OF FINANCIAL CONDITION AT DECEMBER 31, 2001 AND JUNE 30, 2001

         Total assets increased $4.1 million from $223.6 million at June 30,
2001 to $227.7 million at December 31, 2001. Certain components of the Company's
asset base also changed from June 30, 2001 to December 31, 2001. Mortgage-backed
securities ("MBS") (including both held-to-maturity and available-for-sale
portfolios) decreased $5.7 million from $22.4 million at June 30, 2001 to $16.7
million at December 31, 2001. This decrease was primarily due to the receipt of
principal repayments during the six month period. An increase of $2.6 million in
loans receivable was the result of loan originations of $19.2 million which
exceeded the $16.7 million of loan repayments. Interest earning deposits
increased $7.7 million from $9.2 million at June 30, 2001 to $16.9 million at
December 31, 2001.

         Investment securities are recorded on the balance sheet at fair value
and were $9.2 million and $9.4 million at December 31, 2001 and June 30, 2001,
respectively; this decrease was due to the sale of securities during this time
period.

         The allowance for loan losses at December 31, 2001 and June 30, 2001
was $300,000. Management believes that the allowance for loan losses is adequate
to cover any probable losses in the loan portfolio. While management estimates
loan losses using the best available information, no assurance can be made that
future additions to the allowance will not be necessary. The ratio of the
allowance for loan losses to total loans was 0.17% and 0.18% at December 31,
2001 and June 30, 2001, respectively. At December 31, 2001 and June 30, 2001,
the ratio of the allowance for loan losses to non-performing loans was 118.58%
and 267.86%, rerspectively. The Bank had two non-performing loans totaling
approximately $253,000 at December 31, 2001 and one non-performing loan totaling
approximately $112,000 at June 30, 2001. There were no loan chargeoffs during
the six month periods ended December 31, 2001 and 2000.

         Savings deposits increased $4.6 million from June 30, 2001 to December
31, 2001; during this time, borrowed funds remained constant at $61.0 million.
Passbook savings were $35.8 million at December 31, 2001 compared to $35.4
million at June 30, 2001. Certificates of deposit accounts increased $3.0
million to $69.2 million at December 31, 2001.

         Stockholders' equity at December 31, 2001 was $28.1 million, an
increase of $51,000 from June 30, 2001. The increase includes net income of
$469,000 for the six months ended December 31, 2001 and an increase in the fair
value of the available-for-sale investment portfolio of $137,000 (net of taxes)
which was offset by the payment of $0.06 per share quarterly cash dividend in
each of the first two quarters of the fiscal year and the purchase of 38,500
treasury shares at a cost of $597,000. The Company's book value was $18.64 per
share at December 31, 2001 compared to $18.14 per share at June 30, 2001, an
increase of $0.50 per share.

           COMPARISON OF OPERATING RESULTS FOR THE THREE MONTHS ENDED
                           DECEMBER 31, 2001 AND 2000

         GENERAL. For the three months ended December 31, 2001, net income was
$209,000 or $0.15 per basic and diluted share, compared to net income of
$200,000 or $0.12 per basic and diluted share for the three months ended
December 31, 2000.

                                       10

<PAGE>


         INTEREST INCOME. Interest income was $3.6 million for the three months
ended December 31, 2001 and 2000. The average balance of interest-earning assets
increased $11.8 million from $207.1 million for the three months ended December
31, 2000 to $218.9 million for the three months ended December 31, 2001. The
average yield on the Bank's interest-earning assets decreased 45 basis points
from 7.02% for the three months ended December 31, 2000 to 6.57% for the three
months ended December 31, 2001.

         INTEREST EXPENSE. Interest expense decreased $266,000 to $1.9 million
for the three months ended December 31, 2001, as compared to the same period in
2000. The average rate paid on interest-bearing liabilities decreased 83 basis
points from 4.86% for the three months ended December 31, 2000 to 4.03% for the
three months ended December 31, 2001. The average balance of interest-bearing
liabilities increased $10.0 million to $186.1 million for the three months ended
December 31, 2001 from $176.1 million for the three months ended December 31,
2000. The decrease in the cost of average interest-bearing liabilities resulted
primarily from the renewal of maturing certificates of deposit and borrowed
funds at lower interest rates.

         NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES. Net interest
income before provision for loan losses was $1.7 million for the three months
ended December 31, 2001, compared to $1.5 million for the same period in 2000.
The average interest rate spread increased 38 basis points from 2.16% for the
three months ended December 31, 2000 to 2.54% for the three months ended
December 31, 2001. Net interest margin increased 26 basis points and was 3.15%
for the three months ended December 31, 2001.

         PROVISION FOR LOAN LOSSES. There was no provision for loan losses for
the three months ended December 31, 2001 or for the comparable period in 2000.

         NONINTEREST INCOME. Noninterest income for the quarter ended December
31, 2001 was $56,000 compared to $77,000 for the comparable period in 2000. The
decrease was primarily due to a $48,000 net loss on the sale of certain
available-for-sale securities, which was partially offset by an increase in
service fees.

         NONINTEREST EXPENSE. Noninterest expense increased $176,000 and was
$1.5 million for the three months ended December 31, 2001, compared to $1.3
million for the three months ended December 31, 2000. Compensation and benefits
expense increased $52,000 to $731,000 for the quarter ended December 31, 2001
over the similar period last year primarily due to increased costs of stock
incentive employee benefits and increased salaries of employees, which were
partially offset by reduced staffing levels. Office occupancy expense was
$264,000 for the three months ended December 31, 2001, compared to $256,000 for
the same period in 2000. Professional service expense was $235,000 for the three
months ended December 31, 2001 compared to $129,000 for the three months ended
December 31, 2000. This increase was primarily due to consulting payments made
to certain retired executives of the Company and payments to other consultants
to advise the Company on how to best maximize long term shareholder value. There
were no similar expenses in the prior year. Other noninterest expense was
$221,000 for the three months ended December 31, 2001, compared to $211,000 for
the comparable period in 2000.

         INCOME TAX EXPENSE. Income tax expense increased $21,000 from $75,000
for the three months ended December 31, 2000 to $96,000 for the three months
ended December 31, 2001. This increase was partially due to the increase of
$30,000 in pre-tax income. The effective tax rate was

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<PAGE>


31.5% and 27.3% for the three month periods ended December 31, 2001 and 2000,
respectively. The increase in the effective tax rate was primarily due to the
sale of certain available-for-sale securities during fiscal 2001. These
securities had paid dividends, and the Company's dividend received deductions
had lowered the effective rate in the prior year.

            COMPARISON OF OPERATING RESULTS FOR THE SIX MONTHS ENDED
                           DECEMBER 31, 2001 AND 2000

         GENERAL. For the six months ended December 31, 2001, net income was
$469,000 or $0.33 per basic and diluted share, compared to net income of
$357,000 or $0.22 per basic and diluted share for the six months ended December
31, 2000.

         INTEREST INCOME. Interest income was $7.3 million and $7.2 million for
the six months ended December 31, 2001 and 2000, respectively. The average
balance of interest-earning assets increased $11.2 million from $206.4 million
for the six months ended December 31, 2000 to $217.6 million for the six months
ended December 31, 2001. The average yield on the Bank's interest-earning assets
decreased 29 basis points from 6.96% for the six months ended December 31, 2000
to 6.67% for the six months ended December 31, 2001.

         INTEREST EXPENSE. Interest expense decreased $295,000 to $3.9 million
for the six months ended December 31, 2001, as compared to $4.2 million for the
same period in 2000. The average rate paid on interest-bearing liabilities
decreased 57 basis points from 4.78% for the six months ended December 31, 2000
to 4.21% for the six months ended December 31, 2001. The average balance of
interest-bearing liabilities increased $9.8 million to $184.9 million for the
six months ended December 31, 2001 from $175.1 million for the six months ended
December 31, 2000. The decrease in the cost of average interest-bearing
liabilities resulted primarily from the renewal of maturing certificates of
deposit and borrowed funds at lower interest rates.

         NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES. Net interest
income before provision for loan losses was $3.3 million for the six months
ended December 31, 2001, compared to $3.0 million for the six months ended
December 31, 2000. The average interest rate spread increased 28 basis points
from 2.18% for the six months ended December 31, 2000 to 2.46% for the
comparable period in 2001. Net interest margin increased 19 basis points and was
3.09% for the six months ended December 31, 2001.

         PROVISION FOR LOAN LOSSES. There was no provision for loan losses for
the six months ended December 31, 2001 or for the comparable period in 2000.

         NONINTEREST INCOME. Noninterest income for the six months ended
December 31, 2001 was $140,000 compared to $165,000 for the comparable period in
2000. The decrease was primarily due to a $48,000 net loss on the sale of
certain available-for-sale securities, which was partially offset by an increase
in service fees.

         NONINTEREST EXPENSE. Noninterest expense increased $127,000 and was
$2.8 million for the six months ended December 31, 2001 as compared to $2.7
million for the comparable period in 2000. Compensation and benefits expense
increased $20,000 to $1.5 million for the six month period ended December 31,
2001 primarily due to the increased costs of stock incentive employee benefits
and increased salaries of employees, which were partially offset by reduced
staffing level. Office

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<PAGE>


occupancy expense was $559,000 for the six months ended December 31, 2001,
compared to $514,000 for the same period in 2000. This increase was primarily
due to building and land improvement repairs made during the six months ended
December 31, 2001, while no similar expenditures occurred in the prior year.
Professional service expense was $351,000 for the six months ended December 31,
2001 compared to $307,000 for the six months ended December 31, 2000. This
increase was primarily due to consulting payments made to certain retired
executives of the Company and payments to other consultants to advise the
Company on how to best maximize long term shareholder value. There were no
similar expenses in the prior year.

         INCOME TAX EXPENSE. Income tax expense increased $107,000 from $112,000
for the six months ended December 31, 2000 to $219,000 for the six months ended
December 31, 2001. This increase was partially due to the increase of $107,000
in pre-tax income. The effective tax rate was 31.8% and 23.9% for the six month
periods ended December 31, 2001 and 2000, respectively. The increase in the
effective tax rate was primarily due to the sale of certain available-for-sale
securities during fiscal 2001. These securities had paid dividends, and the
Company's dividend received deductions had lowered the effective rate in the
prior year.

                         LIQUIDITY AND CAPITAL RESOURCES

         The Bank's primary sources of funds are savings deposits, principal and
interest payments on loans and mortgage-backed securities, and borrowings from
the FHLB. While maturities and scheduled amortization of loans and
mortgage-backed securities provide an indication of the timing of the receipt of
funds, changes in interest rates, economic conditions and competition strongly
influence mortgage prepayment rates and savings deposit flows, reducing the
predictability of the timing of sources of funds. Net cash provided by operating
activities amounted to $854,000 during the six months ended December 31, 2001
compared to $300,000 during the six months ended December 31, 2000.

         Under Office of Thrift Supervision regulations, the Bank is required to
maintain sufficient liquidity to ensure its safe and sound operation. At
December 31, 2001, the Bank's liquidity ratio was 23.67%. The Bank's liquidity
ratio is high due to the amount of mortgage-backed-securities held in the Bank's
investment portfolio with a stated maturity of less than five years. The levels
of the Bank's short-term liquid assets are dependent on the Bank's operating,
financing and investing activities during any given period.

         The primary investing activities of the Bank during the six months
ended December 31, 2001 were the origination of mortgage and other loans.

         See the "Consolidated Statements of Cash Flows" in the Unaudited
Consolidated Financial Statements included in this Report on Form 10-Q for the
sources and uses of cash flows for operating activities and financing and
investing activities for the six months ended December 31, 2001 and 2000.

         At December 31, 2001, the Bank had outstanding loan origination
commitments of $8.1 million and unused lines of consumer credit of $720,000. The
Bank anticipates that it will have sufficient funds available to meet its
current origination and other lending commitments. Certificates of deposit
scheduled to mature in one year or less from December 31, 2001 totaled $35.6
million. Based upon the Bank's most recent pricing strategy, management believes
that a significant portion of such deposits will remain with the Bank.
Management believes it will have adequate resources to fund all commitments on a
short term and long term basis in accordance with its business strategy.

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<PAGE>


         At December 31, 2001, the Bank exceeded all of its regulatory capital
requirements with a tangible capital level of $22.8 million, or 10.10% of total
adjusted assets, which is above the required level of $3.4 million or 1.5%; core
capital of $22.8 million, or 10.10% of total adjusted assets, which is above the
required level of $6.8 million or 3.0%; and total risk-based capital of $23.1
million, or 21.61% of risk-weighted assets, which is above the required level of
$8.6 million, or 8.0%.

                       IMPACT OF NEW ACCOUNTING STANDARDS

     In July 2001, the Financing Accounting Standards Board's (the "FASB")
issued SFAS No. 141, "Business Combinations" (SFAS No. 141) and SFAS No. 142,
"Goodwill and Other Intangible Assets" (SFAS No. 142). SFAS No. 141 requires
that all business combinations initiated after June 30, 2001 be accounted for
under the purchase method and addresses the initial recognition and measurement
of goodwill and other intangible assets acquired in a business combination. SFAS
No. 142 addresses the initial recognition and measurement of intangible assets
acquired outside of a business combination and the accounting for goodwill and
other intangible assets subsequent to their acquisition. SFAS No. 142 provides
that intangible assets with finite useful lives be amortized and that goodwill
and intangible assets with indefinite lives will not be amortized, but will
rather be tested at least annually for impairment. SFAS No. 142 is effective
January 1, 2002 for calendar year companies; however, any acquired goodwill or
intangible assets recorded in transactions closed subsequent to June 30, 2001
will be subject immediately to the nonamortization and amortization provisions
of SFAS No. 142. The Company anticipates that the adoption of SFAS No. 141 and
No. 142 on July 1, 2002 will not have a material impact on the Company's results
of operations or financial condition.

                                     ITEM 3.
           QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

     There has been no material change in market risk since that disclosed in
Item 7A of the Company's Report on Form 10-K for the year ended June 30, 2001.


                                     PART II
                                OTHER INFORMATION

ITEM 1.       Legal Proceedings
              None

ITEM 2.       Changes in Securities and Use of Proceeds
              None

ITEM 3.       Defaults Upon Senior Securities
              None

ITEM 4.       Submission of Matters to a Vote of Security Holders
              None

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ITEM 5.       Other Information
              None

ITEM 6.       Exhibits and Reports on Form 8-K
              None


SIGNATURES

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


                               BIG FOOT FINANCIAL CORP.
                                    (Registrant)




                           By: /s/Michael J. Cahill
                               -------------------------------------------------
                               Michael J. Cahill
                               Senior Vice President and Chief Financial Officer

February 14, 2002




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