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, 2000

                                       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 6, 2001
          -----                                                 ----------------
Common Stock, Par Value $.01                                       1,719,668

<PAGE>

<TABLE>
<CAPTION>
                                TABLE OF CONTENTS

                         PART I - FINANCIAL INFORMATION
<S>                                                                                     <C>
ITEM 1.    FINANCIAL STATEMENTS OF BIG FOOT FINANCIAL CORP.

           Consolidated Statements of Financial Condition (Unaudited)
           December 31, 2000 and June 30, 2000..........................................Page 3

           Consolidated Statements of Earnings (Unaudited) - Three and Six months
           ended December 31, 2000 and 1999.............................................Page 4

           Consolidated Statements of Cash Flows (Unaudited) - Six months
           ended December 31, 2000 and 1999.............................................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 15


                           PART II - OTHER INFORMATION

ITEM 1.    LEGAL PROCEEDINGS............................................................Page 15

ITEM 2.    CHANGES IN SECURITIES AND USE OF PROCEEDS....................................Page 15

ITEM 3.    DEFAULTS UPON SENIOR SECURITIES..............................................Page 15

ITEM 4.    SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS..........................Page 15

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

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

           SIGNATURES
</TABLE>


<PAGE>





                     BIG FOOT FINANCIAL CORP. AND SUBSIDIARY

                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                                   (Unaudited)
                        (In thousands, except share data)

<TABLE>
<CAPTION>
                                                                                  DECEMBER 31,         JUNE 30,
                                                                                     2000                2000
                                                                                     ----                ----
<S>                                                                               <C>                 <C>
                                      ASSETS
Cash and due from banks.........................................................  $  4,095            $  2,905
Interest-earning deposits.......................................................    10,637               3,429
Mortgage-backed securities held-to-maturity, at amortized cost
  (fair value of $9,179 at December 31, 2000 and $17,227 at June 30, 2000)......     9,192              17,894
Mortgage-backed securities available-for-sale, at fair value....................    17,893              19,469
Investment in mutual funds and preferred stocks, at fair value..................     8,469               7,511
Loans receivable, net...........................................................   163,373             155,187
Accrued interest receivable.....................................................       953                 954
Stock in Federal Home Loan Bank of Chicago, at cost.............................     3,565               3,300
Foreclosed real estate owned....................................................         -                  78
Office properties and equipment, net............................................     4,400               4,512
Prepaid expenses and other assets...............................................       338                 435
                                                                                  --------            --------
Total assets....................................................................  $222,915            $215,674
                                                                                  ========            ========

                                   LIABILITIES
Noninterest-bearing NOW accounts................................................  $  6,283            $  6,592
Interest-bearing NOW accounts...................................................     8,429               8,944
Money market demand accounts....................................................     9,222              10,752
Passbook accounts...............................................................    35,445              37,447
Certificates of deposits........................................................    63,283              51,759
                                                                                  --------            --------
Total savings deposits..........................................................   122,662             115,494

Borrowed money..................................................................    65,000              66,000
Advance payments by borrowers for taxes and insurance...........................     2,162               2,054
Accrued interest payable and other liabilities..................................     3,523               3,514
                                                                                  --------            --------
Total liabilities...............................................................   193,347             187,062
                                                                                  --------            --------

                               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 shares
issued..........................................................................        25                  25
Treasury stock, at cost (793,082 shares at December 31, 2000 and 767,082
shares at June 30, 2000)........................................................    (9,867)             (9,567)
Additional paid-in capital......................................................    24,472              24,455
Retained earnings-substantially restricted......................................    17,144              16,948
Common stock acquired by the Employee Stock Ownership Plan......................    (1,306)             (1,306)
Common stock acquired by Recognition and Retention Plan.........................      (920)             (1,040)
Accumulated other comprehensive income (loss....................................        20                (903)
                                                                                  --------            --------
Total stockholders' equity......................................................    29,568              28,612
                                                                                  --------            --------
Total liabilities and stockholders' equity......................................  $222,915            $215,674
                                                                                  ========            ========
</TABLE>

     (SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS)


<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,
                                                                                        ------------           ------------
                                                                                      2000        1999       2000       1999
                                                                                      ----        ----       ----       ----
<S>                                                                                  <C>         <C>        <C>        <C>
                           INTEREST INCOME
Mortgage-backed securities held-to-maturity.....................................     $  154      $  334     $  344     $  698
Mortgage-backed securities available-for-sale...................................        287         360        591        740
Investment in mutual funds and preferred stocks.................................        145          54        281        108
Loans receivable................................................................      2,899       2,551      5,709      5,015
Interest-earning deposits.......................................................         78          59        117        133
Federal Home Loan Bank of Chicago stock.........................................         72          45        137         87
                                                                                     ------      ------     ------     ------
Total interest income...........................................................      3,635       3,403      7,179      6,781
                                                                                     ------      ------     ------     ------

                          INTEREST EXPENSE
Savings deposits................................................................      1,094       1,046      2,120      2,129
Borrowed money..................................................................      1,062         778      2,097      1,507
                                                                                     ------      ------     ------     ------
Total interest expense..........................................................      2,156       1,824      4,217      3,636
                                                                                     ------      ------     ------     ------

Net interest income before provision for loan losses............................      1,479       1,579      2,962      3,145
Provision for loan losses.......................................................          -           -          -          -
                                                                                     ------      ------     ------     ------

Net interest income after provision for loan losses ............................      1,479       1,579      2,962      3,145
                                                                                     ------      ------     ------     ------

                         NONINTEREST INCOME
Service fees....................................................................         67          66        132        136
Other...........................................................................         10          17         33         27
                                                                                     ------      ------     ------     ------
Total noninterest income........................................................         77          83        165        163
                                                                                     ------      ------     ------     ------

                         NONINTEREST EXPENSE
Compensation and benefits.......................................................        679         790      1,448      1,537
Office occupancy................................................................        256         270        514        559
Federal deposit insurance premiums..............................................          6          19         12         37
Real estate held for sale and development.......................................          -           -          -          8
Professional services...........................................................        129         209        307        328
Other...........................................................................        211         204        377        382
                                                                                     ------      ------     ------     ------
Total noninterest expense.......................................................      1,281       1,492      2,658      2,851
                                                                                     ------      ------     ------     ------

Income before income taxes......................................................        275         170        469        457
Income tax expense..............................................................         75          61        112        167
                                                                                     ------      ------     ------     ------

                             NET INCOME                                              $  200      $  109     $  357     $  290
                                                                                     ======      ======     ======     ======

-----------------------------------------------------------------------------------------------------------------------------
Earnings per share:

  Basic.........................................................................      $0.12       $0.05      $0.22      $0.14
  Diluted.......................................................................       0.12        0.05       0.22       0.14
</TABLE>

     (SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS)



<PAGE>


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

<TABLE>
<CAPTION>
                                                                                                      FOR THE
                                                                                                 SIX MONTHS ENDED
                                                                                                   DECEMBER 31,
                                                                                                   ------------
                                                                                               2000            1999
                                                                                               ----            ----
<S>                                                                                          <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income......................................................................             $   357         $   290
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization...................................................                 228             243
Market adjustment for committed ESOP shares.....................................                  17              33
Amortization of award of RRP shares.............................................                 120             191
Net amortization of deferred loan fees..........................................                 (20)            (33)
Net amortization of discounts and premiums......................................                  86             186
Decrease in accrued interest receivable.........................................                   1              72
Decrease in prepaid expenses and other assets...................................                  97              99
Decrease in accrued interest payable and other liabilities, net.................                (466)           (591)
                                                                                             -------         -------
Net cash provided by operating activities.......................................                 420             490
------------------------------------------------------------------------------------------------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
Origination of loans receivable.................................................             (15,065)        (17,683)
Principal repayment of loans receivable.........................................               6,899           9,403
Principal repayments on mortgage-backed securities held-to-maturity.............               8,650           4,922
Principal repayments on mortgage-backed securities available-for-sale...........               2,233           3,232
Purchase of investment in preferred stocks......................................                (252)              -
Purchase of stock in Federal Home Loan Bank of Chicago..........................                (265)           (200)
Proceeds from sale of real estate held for development..........................                   -             154
Proceeds from sale of foreclosed real estate....................................                  78               -
Purchase of office properties and equipment, net................................                (116)            (96)
                                                                                             -------         -------
Net cash provided by (used in) investing activities.............................               2,162            (268)
------------------------------------------------------------------------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in savings deposits.....................................               7,168          (7,402)
Net increase (decrease) in borrowed money.......................................              (1,000)          4,000
Increase in advance payments by borrowers for taxes and insurance...............                 108              25
Payment of cash dividend........................................................                (160)           (220)
Purchase of treasury stock......................................................                (300)         (1,860)
                                                                                             -------         -------
Net cash provided by (used in) financing activities.............................               5,816          (5,457)
------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in cash and cash equivalents............................               8,398          (5,235)
Cash and cash equivalents at the beginning of the period........................               6,334          10,627
                                                                                             -------         -------
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD..............................             $14,732         $ 5,392
------------------------------------------------------------------------------------------------------------------------

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
  Cash paid during the period for:
     Interest...................................................................               4,129           3,645
     Income taxes...............................................................                  65             301
</TABLE>

     (SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS)


<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, 2000
and June 30, 2000 and for the three and six month periods ended December 31,
2000 and 1999. 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 generally accepted accounting principles 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
financial statements for the year ended June 30, 2000, and the notes thereto
included in the Company's 2000 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:



<PAGE>


<TABLE>
<CAPTION>
                                                           THREE MONTHS ENDED            SIX MONTHS ENDED
                                                              DECEMBER 31,                  DECEMBER 31,
                                                              ------------                  ------------
                                                           2000          1999            2000        1999
                                                           ----          ----            ----        ----
<S>                                                     <C>          <C>              <C>         <C>
     BASIC:
     Net income......................................   $  200,000   $  109,000       $  357,000  $  290,000
     Weighted average shares outstanding.............    1,601,720    2,037,059        1,604,840   2,074,798
     Basic earnings per share........................         0.12         0.05             0.22        0.14

     DILUTED:
     Net income......................................   $  200,000   $  109,000       $  357,000  $  290,000
     Weighted average shares outstanding.............    1,601,720    2,037,059        1,604,840   2,074,798
     Effect of dilutive stock options outstanding....            -            -                -         353
     Diluted weighted average shares outstanding.....    1,601,720    2,037,059        1,604,840   2,305,740
     Diluted earnings per share......................         0.12         0.05             0.22        0.14
</TABLE>


(3)  COMPREHENSIVE INCOME

         The Company's comprehensive income (loss) for the three and six month
periods ended December 31, 2000 and 1999 is as follows:

<TABLE>
<CAPTION>
                                                                      THREE MONTHS ENDED           SIX MONTHS ENDED
                                                                         DECEMBER 31,                 DECEMBER 31,
                                                                         ------------                 ------------
                                                                      2000          1999           2000        1999
                                                                      ----          ----           ----        ----
<S>                                                                <C>          <C>            <C>          <C>
Net income........................................................ $ 200,000    $ 109,000      $  357,000   $ 290,000
Other comprehensive income, net of tax:
   Unrealized holding gains (losses) arising during the period....   455,000     (292,000)        923,000    (528,000)
                                                                   ---------    ---------      ----------   ---------
Comprehensive income (loss)....................................... $ 655,000    $(183,000)     $1,280,000   $(238,000)
                                                                   =========    =========      ==========   =========
</TABLE>


(4)  DIVIDEND DECLARATION

         On November 15, 2000, the Board of Directors declared a quarterly
dividend of $.05 per share, which was paid on December 15, 2000 to stockholders
of record on November 30, 2000.

(5)  STOCK REPURCHASE PROGRAMS

         The Stock Repurchase Programs adopted by the Company authorized the
repurchase of 866,099 shares, or over 34 percent of the 2,512,750 shares of
common stock issued in the Company's initial public offering. At December 31,
2000, 793,082 shares have been repurchased at an average cost of $12.44 per
share. At December 31, 2000, management had Board authorization to repurchase
73,017 shares as opportunities may arise. 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.


<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.



<PAGE>





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

<TABLE>
<CAPTION>
                                                                         DECEMBER 31,          JUNE 30,
                                                                            2000                 2000
                                                                            ----                 ----
<S>                                                                       <C>                   <C
  SELECTED FINANCIAL CONDITION DATA:
     Total assets.....................................................    $222,915              $215,674
     Loans receivable (net)...........................................     163,373               155,187
     Allowance for loan losses........................................         300                   300
     Mortgage-backed securities.......................................      27,085                37,363
     Savings deposits.................................................     122,662               115,494
     Borrowed funds...................................................      65,000                66,000
     Stockholders' equity.............................................      29,568                28,612
</TABLE>


<TABLE>
<CAPTION>
                                                                     AT OR FOR THE              AT OR FOR THE
                                                                   THREE MONTHS ENDED          SIX MONTHS ENDED
                                                                       DECEMBER 31,              DECEMBER 31,
                                                                       ------------              ------------
                                                                   2000          1999          2000        1999
                                                                   ----          ----          ----        ----
<S>                                                              <C>           <C>           <C>         <C>
  SELECTED OPERATING DATA:
     Net interest income before provision for loan losses......  $ 1,479       $ 1,579       $ 2,962     $ 3,145
     Net income................................................      200           109           357         290

  SELECTED FINANCIAL RATIOS:
      Bank capital ratios (1):
          Tangible.............................................    10.08%        12.30%        10.08%      12.30%
          Core.................................................    10.08         12.30         10.08       12.30
          Risk-based...........................................    22.34         28.20         22.34       28.20
      Return on average assets (2).............................     0.37          0.21          0.33        0.27
      Return on average stockholders' equity (2)...............     2.73          1.30          2.46        1.71
      Consolidated equity to assets at end of period...........    13.26         15.60         13.26       15.60
      Noninterest expense to average assets (2)................     2.37          2.84          2.47        2.68
      Non-performing assets as a percent of total assets.......        -          0.20             -        0.20
      Allowance for loan losses as a percent of total loans....     0.18          0.20          0.18        0.20
      Allowance for loan losses as a percent of non-performing
      loans....................................................        -         71.77             -       71.77

  PER SHARE DATA:
      Basic earnings per share.................................  $  0.12       $  0.05       $  0.22     $  0.14
      Diluted earnings per share...............................     0.12          0.05          0.22        0.14
      Book value per share.....................................    17.19         15.30         17.19       15.30
      Cash dividends per share.................................     0.05          0.05          0.10        0.10

  STOCK QUOTES:
      High.....................................................  $12.563       $13.500       $12.563     $15.063
      Low......................................................   11.750        11.500        10.125      11.500
      At December 31...........................................   12.000        12.500        12.000      12.500
</TABLE>

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


<PAGE>


    COMPARISON OF FINANCIAL CONDITION AT DECEMBER 31, 2000 AND JUNE 30, 2000

         Total assets increased $7.2 million from $215.7 million at June 30,
2000 to $222.9 million at December 31, 2000. Certain components of the Company's
asset base also changed from June 30, 2000 to December 31, 2000. Mortgage-backed
securities ("MBS") (including both held-to-maturity and available-for-sale
portfolios) decreased $10.3 million from $37.4 million at June 30, 2000 to $27.1
million at December 31, 2000. This decrease was primarily due to the receipt of
$10.9 million in principal repayments during the six month period. An increase
of $8.2 million in loans receivable was the result of loan originations of $15.1
million which exceeded the $6.9 million of loan repayments. Interest earning
deposits increased $7.2 million from $3.4 million at June 30, 2000 to $10.6
million at December 31, 2000.

         Investments in mutual funds and preferred stock are recorded on the
statements of financial condition at fair value and were $8.5 million and $7.5
million at December 31, 2000 and June 30, 2000, respectively. The increase is
primarily due to the appreciation in the market value of the portfolio.

         The allowance for loan losses at December 31, 2000 and June 30, 2000
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 0.18% and 0.19% at December 31,
2000 and June 30, 2000, respectively. There were no non-performing loans as of
December 31, 2000. The ratio of the allowance for loan losses to non-performing
loans was 120.48% at June 30, 2000. The Bank had six non-performing loans
totaling approximately $193,000 at June 30, 2000. The Bank had one property held
in foreclosed real estate at June 30, 2000, which totaled $78,000. This
foreclosed real estate had mortgage insurance and was sold during the first
quarter of fiscal year 2001 for a gain of approximately $8,000. There were no
loan chargeoffs during the six month periods ended December 31, 2000 and 1999.

         Savings deposits increased $7.2 million from June 30, 2000 to December
31, 2000; during this time, borrowed funds decreased by $1.0 million. Interest
and noninterest-bearing NOW accounts declined $824,000 primarily due to a $1.2
million decrease in government entities' deposits, whose balances fluctuate
during the year. Passbook savings were $35.4 million at December 31, 2000
compared to $37.4 million at June 30, 2000. Certificates of deposit accounts
increased $11.5 million to $63.3 million at December 31, 2000 from June 30,
2000. This increase was primarily due to an 8 month 7% CD program which ended
December 31, 2000.

         Stockholders' equity at December 31, 2000 was $29.6 million, an
increase of $956,000 from June 30, 2000. The increase includes the six month's
net income of $357,000 and an increase in value of the available-for-sale
investment portfolio of $923,000 (net of taxes) which was offset by dividends
declared and treasury stock purchases. The Company's book value was $17.19 per
share at December 31, 2000 compared to $16.40 per share at June 30, 2000, an
increase of $0.79.




<PAGE>


           COMPARISON OF OPERATING RESULTS FOR THE THREE MONTHS ENDED
                           DECEMBER 31, 2000 AND 1999

         GENERAL. For the three months ended December 31, 2000, net income was
$200,000 or $0.12 per basic and diluted share, compared to net income of
$109,000 or $0.05 per basic and diluted share for the three months ended
December 31, 1999.

         INTEREST INCOME. Interest income was $3.6 million and $3.4 million for
the three months ended December 31, 2000 and 1999, respectively. The average
balance of interest-earning assets increased $5.0 million from $202.1 million
for the three months ended December 31, 1999 to $207.1 million for the three
months ended December 31, 2000. The average yield on the Bank's interest-earning
assets increased 29 basis points from 6.73% for the three months ended December
31, 1999 to 7.02% for the three months ended December 31, 2000.

         INTEREST EXPENSE. Interest expense increased $332,000 to $2.2 million
for the three months ended December 31, 2000, as compared to the same period in
1999. The average rate paid on interest-bearing liabilities increased 53 basis
points from 4.33% for the three months ended December 31, 1999 to 4.86% for the
three months ended December 31, 2000. The average balance of interest-bearing
liabilities increased $9.1 million to $176.1 million for the three months ended
December 31, 2000 from $167.0 million for the three months ended December 31,
1999. The increase in the cost of average interest-bearing liabilities resulted
primarily from the renewal of maturing certificates of deposit and borrowed
funds at higher rates.

         NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES. Net interest
income before provision for loan losses was $1.5 million for the three months
ended December 31, 2000, compared to $1.6 million for the same period in 1999.
The average interest rate spread decreased 24 basis points from 2.40% for the
three months ended December 31, 1999 to 2.16% for the comparable period in 2000.
Net interest margin declined 26 basis points and was 2.89% for the three months
ended December 31, 2000.

         PROVISION FOR LOAN LOSSES. There was no provision for loan losses for
the three months ended December 31, 2000 or for the comparable period in 1999.

         NONINTEREST INCOME. Noninterest income was $77,000 for the three months
ended December 31, 2000, compared to $83,000 for the three months ended December
31, 1999.

         NONINTEREST EXPENSE. Noninterest expense decreased $211,000 and was
$1.3 million for the three months ended December 31, 2000, compared to $1.5
million for the three months ended December 31, 1999. Compensation expense
decreased $111,000 over the similar period last year primarily due to decreased
staffing levels and decreased costs of stock incentive employee benefits, which
were partially offset by increased employee salaries. Office occupancy expense
was $256,000 for the three months ended December 31, 2000, compared to $270,000
for the same period in 1999. This decrease was primarily due to a decrease in
depreciation expense. Professional services expense was $129,000 for the three
months ended December 31, 2000, a decrease of $80,000, primarily due to
decreased legal fees relating to a suit to recover damages in a real estate
development known as The Trails of Olympia Fields. A trial date has been set for
May 2001. Other noninterest expense was

<PAGE>

$211,000 for the three months ended December 31, 2000, compared to $204,000 for
the comparable period in 1999.

         INCOME TAX EXPENSE. Income tax expense increased $14,000 from $61,000
for the three months ended December 31, 1999 to $75,000 for the three months
ended December 31, 2000. This increase was partially due to the increase of
$105,000 in pre-tax income. The effective tax rate was 27.3% and 35.9% for the
three month periods ended December 31, 2000 and 1999, respectively. The decrease
in the effective tax rate was primarily due to an increase in the dividends
received deduction recorded in fiscal year 2001 for dividends received on the
Company's investments in mutual funds and preferred stock.

            COMPARISON OF OPERATING RESULTS FOR THE SIX MONTHS ENDED
                           DECEMBER 31, 2000 AND 1999

         GENERAL. For the six months ended December 31, 2000, net income was
$357,000 or $0.22 per basic and diluted share, compared to net income of
$290,000 or $0.14 per basic and diluted share for the six months ended December
31, 1999.

         INTEREST INCOME. Interest income was $7.2 million and $6.8 million for
the six months ended December 31, 2000 and 1999, respectively. The average
balance of interest-earning assets increased $2.7 million from $203.7 million
for the six months ended December 31, 1999 to $206.4 million for the six months
ended December 31, 2000. The average yield on the Bank's interest-earning assets
increased 30 basis points from 6.66% for the six months ended December 31, 1999
to 6.96% for the six months ended December 31, 2000.

         INTEREST EXPENSE. Interest expense increased $581,000 to $4.2 million
for the six months ended December 31, 2000, as compared to $3.6 million for the
same period in 1999. The average rate paid on interest-bearing liabilities
increased 48 basis points from 4.30% for the six months ended December 31, 1999
to 4.78% for the six months ended December 31, 2000. The average balance of
interest-bearing liabilities increased $7.3 million to $175.1 million for the
six months ended December 31, 2000 from $167.8 million for the six months ended
December 31, 1999. The increase in the cost of average interest-bearing
liabilities resulted primarily from the renewal of maturing certificates of
deposit and borrowed funds at higher rates.

         NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES. Net interest
income before provision for loan losses was $3.0 million for the six months
ended December 31, 2000 and 1999. The average interest rate spread decreased 18
basis points from 2.36% for the six months ended December 31, 1999 to 2.18% for
the comparable period in 2000. Net interest margin declined 22 basis points and
was 2.90% for the six months ended December 31, 2000.

         PROVISION FOR LOAN LOSSES. There was no provision for loan losses for
the six months ended December 31, 2000 or for the comparable period in 1999.

         NONINTEREST INCOME. Noninterest income was $165,000 for the six months
ended December 31, 2000, compared to $163,000 for the six months ended December
31, 1999. Service fee income

<PAGE>

from savings operations declined $4,000. Other fee income increased $6,000,
including a gain on sale of foreclosed real estate of approximately $8,000.

         NONINTEREST EXPENSE. Noninterest expense decreased $193,000 and was
$2.7 million for the six months ended December 31, 2000 as compared to $2.9
million for the comparable period in 1999. Compensation expense decreased
$89,000 over the similar period last year primarily due to decreased staffing
levels and decreased costs of stock incentive employee benefits, which were
partially offset by increased employee salaries. Office occupancy expense was
$514,000 for the six months ended December 31, 2000, compared to $559,000 for
the same period in 1999. This decrease was primarily due to a decrease in
depreciation expense due to some equipment being fully depreciated. Thus no
comparable expense was recorded in the fiscal year 2001. Professional services
expense was $307,000 for the six months ended December 31, 2000, a decrease of
$21,000 over last year, primarily due to a decrease in legal fees relating to a
suit to recover damages in a real estate development known as The Trails of
Olympia Fields. A trial date has been set for May 2001. Other noninterest
expense was $377,000 for the six months ended December 31, 2000, compared to
$382,000 for the comparable period in 1999.

         INCOME TAX EXPENSE. Income tax expense decreased $55,000 from $167,000
for the six months ended December 31, 1999 to $112,000 for the six months ended
December 31, 2000. This decrease was partially due to a reduction in the
effective tax rate. The effective tax rate was 23.9% and 36.5% for the six month
periods ended December 31, 2000 and 1999, respectively. The decrease in the
effective tax rate was primarily due to an increase in the dividend received
deduction recorded in fiscal year 2001 for dividends received on the Company's
investments in mutual funds and preferred stock.

                         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 $420,000 during the six months ended December 31, 2000
compared to net cash provided of $490,000 during the six months ended December
31, 1999.

         The Bank is required by OTS regulations to maintain an average daily
balance of liquid assets (cash, certain time deposits, bankers' acceptances,
specified United States Government, state or federal agency obligations, shares
of certain mutual funds and certain corporate debt securities and commercial
paper) equal to a monthly average of not less than a specified percentage of its
net withdrawable deposits accounts plus short-term borrowings. This liquidity
requirement may be changed from time to time by the OTS and is currently 4%. At
December 31, 2000, the Bank's liquidity ratio was 26.34%. 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.

<PAGE>

         The primary investing activities of the Bank during the six months
ended December 31, 2000 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, 2000 and 1999.

         At December 31, 2000, the Bank had outstanding loan origination
commitments of $1.8 million and unused lines of consumer credit of $686,000. 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, 2000 totaled $32.7
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.

         At December 31, 2000, the Bank exceeded all of its regulatory capital
requirements with a tangible capital level of $21.8 million, or 10.08% of total
adjusted assets, which is above the required level of $3.3 million or 1.5%; core
capital of $21.8 million, or 10.08% of total adjusted assets, which is above the
required level of $6.5 million or 3.0%; and total risk-based capital of $22.1
million, or 22.34% of risk-weighted assets, which is above the required level of
$7.9 million, or 8.0%.


                       IMPACT OF NEW ACCOUNTING STANDARDS

         In June 1998, the Financial Accounting Standards Board (FASB) issued
Statement of Financial Accounting Standards (SFAS) No. 133, "Accounting for
Derivative Instruments and Hedging Activities" (Statement 133). Statement 133
standardizes the accounting for derivative instruments, including certain
derivative instruments embedded in other contracts. Under the standard, entities
are required to carry all derivative instruments in the balance sheet at fair
value. The accounting for the changes in fair value of a derivative instrument
depends on whether it has been designated and qualifies as part of a hedging
relationship and, if so, on the reason for holding it. The gain or loss due to
changes in fair value is recognized in earnings or as other comprehensive income
in the statement of stockholders' equity, depending on the type of instrument
and whether or not it is considered a hedge. In June 1999, the FASB issued
Statement 137, "Accounting for Derivative Instruments and Hedging Activities -
Deferral of the effective date of Statement No. 133." This statement defers the
adoption of Statement 133 to fiscal quarters of fiscal years beginning after
June 15, 2000. The FASB issued Statement No. 138, "Accounting for Certain
Derivative Instruments and Certain Hedging Activities -- an amendment of FASB
Statement No. 133" in June 2000, which addresses various implementation issues
relating to Statement 133. Adoption of the above Statements by the Company,
effective July 1, 2000, did not have a material impact on the Company's
financial condition or its results of operations.

         The FASB issued SFAS No. 140 "ACCOUNTING FOR TRANSFERS AND SERVICING OF
FINANCIAL ASSETS AND EXTINGUISHMENTS OF LIABILITIES" (Statement 140) in
September 2000. Statement 140 supercedes and replaces FASB Statement 125,
"ACCOUNTING FOR TRANSFERS AND SERVICING OF FINANCIAL ASSETS AND EXTINGUISHMENTS
OF LIABILITIES". Accordingly, Statement 140 is now the authoritative accounting

<PAGE>

literature for transfers and servicing of financial assets and extinguishments
of liabilities. Statement 140 also includes several additional disclosure
requirements in the area of securitized financial assets and collateral
arrangements. The provisions of Statement 140 related to transfers of financial
assets are to be applied to all transfers of financial assets occurring after
March 31, 2001. The collateral recognition and disclosure provisions in
Statement 140 are effective for fiscal years ending after December 15, 2000. The
Company anticipates that the adoption of Statement 140 will not have a material
impact on the Company's results of operations.


                                     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, 2000.


                                     PART II
                                OTHER INFORMATION

ITEM 1.       Legal Proceedings
              None

ITEM 2.       Changes in Securities and Use of Proceeds
              None

ITEM 3.       Defaults Upon Senior Securities
              None

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

ITEM 5.       Other Information
              None

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




<PAGE>


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/Timothy L. McCue
                                            --------------------------------
                                                     Timothy L. McCue
                                            Senior Vice President and Chief
                                                     Financial  Officer

February 12, 2001