<Page>


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

                                   FORM 10-QSB

/X/  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
     OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2002

/ /  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
     FOR THE TRANSITION PERIOD FROM __________ TO __________

                         COMMISSION FILE NUMBER 0-28894

                          ACCESS ANYTIME BANCORP, INC.
                 (Name of small business issuer in its charter)

               DELAWARE                                   85-0444597
   (State or other jurisdiction of          (I.R.S. Employer Identification No.)
   incorporation or organization)


                 5210 EUBANK, NE, ALBUQUERQUE, NEW MEXICO 87111
               (Address of principal executive offices) (Zip Code)


       Issuer's telephone number, including area code: (505) 299-0900


     SECURITIES REGISTERED UNDER SECTION 12(b) OF THE EXCHANGE ACT:  NONE

     SECURITIES REGISTERED UNDER SECTION 12(g) OF THE EXCHANGE ACT:

                           COMMON STOCK $.01 PAR VALUE
                           ---------------------------
                                (Title of class)


      Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

                                 Yes /X/ No / /

                1,459,832 Shares of Capital Stock $.01 par value
                        Outstanding as of April 26, 2002





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

<Page>


                                                  TABLE OF CONTENTS

<Table>
<Caption>
                                                                                                              Page
                                                                                                              ----
<S>                                                                                                           <C>
PART I - FINANCIAL INFORMATION

     Item 1 - Financial Statements

              Unaudited Condensed Consolidated Statements of Financial Condition......................          3

              Unaudited Condensed Consolidated Statements of Operations...............................          4

              Unaudited Condensed Consolidated Statement of Stockholders' Equity......................          5

              Unaudited Condensed Consolidated Statements of Cash Flows...............................      6 - 7

              Notes to Condensed Consolidated Financial Statements (Unaudited)........................      8 - 14

     Item 2 - Management's Discussion and Analysis or Plan of Operation...............................     15 - 19

PART II - OTHER INFORMATION

     Item 1 - Legal Proceedings.......................................................................          20

     Item 2 - Changes in Securities...................................................................          20

     Item 3 - Defaults Upon Senior Securities.........................................................          20

     Item 4 - Submission of Matters to a Vote of Security Holders.....................................          20

     Item 5 - Other Information.......................................................................          20

     Item 6 - Exhibits and Reports on Form 8-K........................................................          20

SIGNATURES............................................................................................          21
</Table>


                                        2

<Page>


                         PART I - FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS
The following unaudited consolidated financial statements include all
adjustments, which in the opinion of management, are necessary in order to make
such financial statements not misleading.

ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

<Table>
<Caption>
                                                                                            March 31,     December 31,
ASSETS                                                                                        2002            2001
------                                                                                    ------------    ------------
<S>                                                                                       <C>             <C>
Cash and cash equivalents                                                                 $ 11,521,479    $ 10,611,093
Certificates of deposit                                                                        898,000         798,000
Securities available-for-sale (amortized cost of $9,748,646 and $10,327,387)                 9,830,225      10,447,181
Securities held-to-maturity (aggregate fair value of $1,616,001
   and $1,649,788)                                                                           1,585,753       1,611,197
Loans held-for-sale (aggregate fair value of $1,077,841 and $1,055,950)                      1,053,797       1,034,719
Loans receivable, net                                                                      145,777,138     141,484,353
Interest receivable, loans                                                                     783,601         763,202
Interest receivable, securities                                                                 82,930          92,816
Real estate owned                                                                              388,277         605,552
Federal Home Loan Bank stock                                                                   991,400         984,200
Premises and equipment, net                                                                  3,731,320       3,700,329
Goodwill, net of accumulated amortization of $314,784 and $314,784                           1,869,304       1,869,304
Deferred tax asset                                                                             901,049         972,607
Other assets                                                                                   772,285         583,078
                                                                                          ------------    ------------
        Total assets                                                                      $180,186,558    $175,557,631
                                                                                          ============    ============

LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------

Liabilities:
   Deposits                                                                               $151,212,114    $146,919,998
   Federal Home Loan Bank advances                                                           8,750,000       8,750,000
   Accrued interest and other liabilities                                                      965,904         936,039
   Advanced payments by borrowers for taxes and insurance                                      365,589         307,669
   Employee Stock Ownership Plan - Note Payable                                              1,096,062       1,141,766
   Trust Preferred Security - Note Payable                                                   4,000,000       4,000,000
                                                                                          ------------    ------------
        Total liabilities                                                                  166,389,669     162,055,472
                                                                                          ------------    ------------
Commitments and contingencies

Stockholders' equity:
   Preferred stock, $.01 par value; 4,000,000 shares authorized; none issued                        --              --
   Common stock, $.01 par value; 6,000,000 shares authorized; 1,495,633 and
     1,495,633 shares issued; 1,275,665 and 1,269,991
     outstanding in 2002 and 2001, respectively                                                 14,956          14,956
   Capital in excess of par value                                                           11,188,494      11,157,895
   Retained earnings                                                                         3,802,880       3,544,326
   Accumulated other comprehensive income, net of tax expense of
     $34,925 and $47,918                                                                        46,654          71,877
                                                                                          ------------    ------------
                                                                                            15,052,984      14,789,054
   Unallocated Employee Stock Ownership Plan shares; 184,000 and 192,000                   (1,005,000)      (1,050,000)
     shares outstanding
   Treasury stock, at cost; 35,968 and 33,642 shares outstanding                             (251,095)        (236,895)
                                                                                          ------------    ------------
        Total stockholders' equity                                                         13,796,889       13,502,159
                                                                                          ------------    ------------
        Total liabilities and stockholders' equity                                        $180,186,558    $175,557,631
                                                                                          ============    ============
</Table>

             The accompanying notes are an integral part of these unaudited
                     condensed consolidated financial statements.

                                        3
<Page>


ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

<Table>
<Caption>
                                                                                  Three Month Periods Ended
                                                                                           March 31,
                                                                                 ----------------------------
                                                                                     2002            2001
                                                                                 ------------    ------------
<S>                                                                              <C>             <C>
Interest income:
   Loans receivable                                                              $  2,721,977    $  2,567,568
   Equity securities                                                                   42,064          56,603
   Mortgage-backed securities                                                         148,611         170,825
   Other interest income                                                               47,297         135,049
                                                                                 ------------    ------------
        Total interest income                                                       2,959,949       2,930,045
                                                                                 ------------    ------------
Interest expense:
   Deposits                                                                         1,090,774       1,546,636
   Federal Home Loan Bank advances                                                    101,894          34,001
   Other borrowings                                                                   119,208          31,516
                                                                                 ------------    ------------
        Total interest expense                                                      1,311,876       1,612,153
                                                                                 ------------    ------------
        Net interest income before provision for loan losses                        1,648,073       1,317,892
Provision for loan losses                                                             168,000          69,000
                                                                                 ------------    ------------
        Net interest income after provision for loan losses                         1,480,073       1,248,892
                                                                                 ------------    ------------
Noninterest income:
   Loan servicing and other fees                                                       93,477          62,860
   Gains on sales of mortgage loans held-for-sale                                      55,236          72,398
   Real estate operations, net                                                         32,750              --
   Other income                                                                       228,257         194,101
                                                                                 ------------    ------------
        Total noninterest income                                                      409,720         329,359
                                                                                 ------------    ------------
Noninterest expense:
   Salaries and employee benefits                                                     798,126         636,537
   Occupancy expense                                                                  177,271         212,285
   Deposit insurance premium                                                           29,383          29,727
   Advertising                                                                         16,566           9,587
   Real estate operations, net                                                            --            2,442
   Professional fees                                                                   90,809          66,601
   Amortization of goodwill                                                               --           36,415
   Other expense                                                                      360,616         331,421
                                                                                 ------------    ------------
        Total noninterest expense                                                   1,472,771       1,325,015
                                                                                 ------------    ------------
        Income before income taxes                                                    417,022         253,236

Income tax expense                                                                    158,468          86,250
                                                                                 ------------    ------------
        Net income                                                               $    258,554    $    166,986
                                                                                 ============    ============
Earnings per common share-basic                                                  $        .20    $        .13
                                                                                 ============    ============
Earnings per common share-assuming dilution                                      $        .19    $        .13
                                                                                 ============    ============
</Table>

             The accompanying notes are an integral part of these unaudited
                     condensed consolidated financial statements.

                                        4

<Page>

ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY

<Table>
<Caption>

                                                                                         Accumulated
                                                Common Stock                               Other
                                                ------------      Capital               Comprehensive
                                                                 in Excess                  Income
                               Comprehensive   Number             of Par      Retained     (Loss)
                                   Income    of shares Amount      Value      Earnings       Net
                               ------------- --------- -------  -----------  ----------  -----------
<S>                            <C>           <C>       <C>      <C>          <C>        <C>

Balance at December 31, 2001                 1,495,633 $14,956  $11,157,895  $3,544,326  $   71,877

Net income                        $258,554          --      --           --     258,554          --

Net change in unrealized
   appreciation on
   available-for-sale
   securities, net of tax          (25,223)         --      --           --          --     (25,223)
                               ------------
Total comprehensive income        $233,331
                               ============
Common stock rights awarded in
   lieu of directors' cash
   compensation                                     --      --       14,400          --          --

Purchases of treasury stock                         --      --           --          --          --

ESOP shares allocated                               --      --       16,199          --          --
                                             --------- -------  -----------  ----------  -----------
Balance at March 31, 2002                    1,495,633 $14,956  $11,188,494  $3,802,880  $   46,654
                                             ========= =======  ===========  ==========  ==========

<Caption>

                                               Treasury Stock
                                            --------------------
                               Unallocated   Number
                               ESOP Shares  of Shares   Amount      Total
                               ------------ --------- ---------- -----------
<S>                            <C>          <C>       <C>        <C>
Balance at December 31, 2001   $(1,050,000)  33,642   $(236,895) $13,502,159

Net income                              --       --          --      258,554

Net change in unrealized
   appreciation on                      --       --          --      (25,223)
   available-for-sale
   securities, net of tax

Total comprehensive income

Common stock rights awarded in
   lieu of directors' cash
   compensation                         --       --          --       14,400

Purchases of treasury stock             --    2,326     (14,200)     (14,200)

ESOP shares allocated               45,000       --          --       61,199
                               ------------ --------- ---------- -----------
Balance at March 31, 2002      $(1,005,000)  35,968   $(251,095) $13,796,889
                               ============ ========= ========== ===========
</Table>

    The accompanying notes are an integral part of these unaudited condensed
    consolidated financial statements.





                                                 5
<Page>

ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

<Table>
<Caption>
                                                                                           Three Month Periods Ended
                                                                                                    March 31,
                                                                                        ------------------------------
                                                                                           2002                2001
                                                                                        ----------         -----------
<S>                                                                                     <C>                <C>
Cash flows from operating activities:
   Net income                                                                           $  258,554         $   166,986
   Adjustments to reconcile net income to cash
    provided by (used in) operating activities:
     Depreciation                                                                           95,653             108,838
     Deferred income taxes                                                                  84,150              86,100
     Provision for loan losses                                                             168,000              69,000
     Amortization of premiums on investment securities                                       9,683              14,376
     Amortization of loan premiums, discounts and
       deferred fees, net                                                                   59,182              34,307
     Amortization of goodwill                                                                   --              36,415
     Non-cash ESOP contribution                                                             54,011             109,739
     Gains on sales of mortgage loans held-for-sale                                        (55,236)            (72,398)
     Proceeds from sales of mortgage loans                                               3,536,102           4,046,394
       held-for-sale
     Originations of mortgage loans held-for-sale                                       (3,499,944)         (6,691,048)
     Common stock rights awarded in lieu of directors
       compensation                                                                         14,400               4,550
     Gain on sale of foreclosed real estate                                                (39,859)                 --
     Gain on disposition of assets                                                              --               2,010
     Net (increase) decrease in accrued interest
       receivable and other assets                                                        (252,761)             72,812
     Increase (decrease) in accrued interest and other
       liabilities                                                                          29,865            (386,960)
                                                                                        ----------         -----------
       Net cash provided by (used in) operating activities                                 461,800          (2,398,879)
                                                                                        ----------         -----------
Cash flows from investing activities:
   Purchases of available-for-sale securities                                             (200,000)           (200,000)
   Proceeds from maturities and principal repayments
     of available-for-sale securities                                                      768,738             471,304
   Proceeds from maturities and principal repayments
     of held-to-maturity securities                                                         25,762           1,433,916
   Purchase of FHLB stock                                                                       --             (13,000)
   Net increase in certificates of deposit                                                (100,000)           (598,000)
   Net increase in loans                                                                (4,601,391)         (1,123,532)
   Proceeds from sales of foreclosed real estate                                           391,989                  --
   Purchases of premises and equipment                                                    (126,644)            (19,175)
                                                                                        ----------         -----------
       Net cash used in investing activities                                            (3,841,546)            (48,487)
                                                                                        ----------         -----------
Cash flows from financing activities:
   Net increase in deposits                                                              4,292,116           2,874,853
   Net increase in advance payments by borrowers for
     taxes and insurance                                                                    57,920              37,639
   Repayment of employee stock ownership plan-note
     payable                                                                               (45,704)           (104,740)
   Purchase of treasury stock                                                              (14,200)            (11,567)
                                                                                        ----------         -----------
       Net cash provided by financing activities                                         4,290,132           2,796,185
                                                                                        ----------         -----------
Increase in cash and cash equivalents                                                      910,386             348,819
Cash and cash equivalents at beginning of year                                          10,611,093           7,145,268
                                                                                        ----------         -----------
Cash and cash equivalents at end of quarter                                             11,521,479           7,494,087
                                                                                        ==========         ===========

                                                      (Continued)

                                                           6
<Page>


ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (CONTINUED)




                                                                                           Three Month Periods Ended
                                                                                                    March 31,
                                                                                        ------------------------------
                                                                                           2002                2001
                                                                                        ----------         -----------

Supplemental disclosures of cash flow information:
   Cash paid during the period for:
     Interest                                                                           $1,475,629          $1,628,108
     Income taxes                                                                           16,750                 150
   Supplemental disclosure of non-cash investing and
    financing activities
     Real estate acquired in settlement of loans                                           238,187                  --
     Non-cash transfer of investment security pursuant to FASB 133                              --           1,607,997

</Table>

    The accompanying notes are an integral part of these unaudited condensed
    consolidated financial statements.

















                                                           7
<Page>

ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


NOTE 1      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

IMPACT OF NEW ACCOUNTING STANDARDS - In June 2001, the Financial Accounting
Standards Board issued Statement No. 141 ("Statement 141"), BUSINESS
COMBINATIONS, and Statement No. 142 ("Statement 142"), GOODWILL AND OTHER
INTANGIBLE ASSETS. Statement 141 requires that the purchase method of accounting
be used for all business combinations initiated after June 30, 2001 as well as
all purchase method business combinations completed after June 30, 2001.
Statement 141 also specifies criteria that intangible assets acquired in a
purchase method business combination must meet to be recognized and reported
apart from goodwill. Statement 142 requires that goodwill and intangible assets
with indefinite useful lives no longer be amortized, but instead be tested for
impairment at least annually in accordance with the provisions of Statement 142.
Statement 142 requires that intangible assets with definite useful lives be
amortized over their respective estimated useful lives to their estimated
residual values, and reviewed for impairment in accordance with the Financial
Accounting Standards Board's Statement No. 121 ("Statement 121"), ACCOUNTING FOR
THE IMPAIRMENT OF LONG-LIVED ASSETS AND FOR LONG-LIVED ASSETS TO BE DISPOSED OF.

The Company adopted the provisions of Statement 141 as of July 1, 2001 and
Statement 142 on January 1, 2002. The adoption of Statement 141 did not have any
impact on the Company's consolidated financial statements.

Statement 141 requires, upon adoption of Statement 142, that the Company
evaluate its existing intangible assets and goodwill that were acquired in a
prior purchase business combination, and to make any necessary reclassifications
in order to conform with the new criteria in Statement 141 for recognition apart
from goodwill. Upon adoption of Statement 142, the Company is required to
reassess the useful lives and residual values of all intangible assets acquired
in purchase business combinations, and make any necessary amortization period
adjustments by the end of the first interim period after adoption. In addition,
to the extent an intangible asset is identified as having an indefinite useful
life, the Company is required to test the intangible asset for impairment in
accordance with the provisions of Statement 142 within the first interim period.
Any impairment loss will be measured as of the date of adoption and recognized
as the cumulative effect of a change in accounting principle in the first
interim period.

In connection with the transitional goodwill impairment evaluation, Statement
142 requires the Company to perform an assessment of whether there is an
indication that goodwill is impaired as of the date of adoption. To accomplish
this the Company must identify its reporting units and determine the carrying
value of each reporting unit by assigning the assets and liabilities, including
the existing goodwill and intangible assets, to those reporting units as of the
date of adoption. The Company will have up to six months from the date of
adoption to determine the fair value of each reporting unit and compare it to
the reporting unit's carrying amount. To the extent a reporting unit's carrying
amount exceeds its fair value, an indication exists such that reporting unit's
goodwill may be impaired and the Company must perform the second step of the
transitional impairment test. In the second step, the Company must compare the
implied fair value of the reporting unit's goodwill, determined by allocating
the reporting unit's fair value to all of its assets (recognized and
unrecognized) and liabilities in a manner similar to a purchase price allocation
in accordance with Statement 141, to its carrying amount, both of which would be
measured as of the date of adoption. This second step is required to be
completed as soon as possible, but no later than the end of the year of
adoption. Any transitional


                                        8

<Page>

ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

impairment loss will be recognized as the cumulative effect of a change in
accounting principle in the Company's consolidated statements operations.

The Company adopted Statement 142 as of January 1, 2002 and will no longer
amortize goodwill. As of the date of the adoption, the Company had unamortized
goodwill in the amount of approximately $1.87 million which is subject to the
transition provisions of Statements 141 and 142. Amortization expense related to
goodwill was $36,415 for the three months ended March 31, 2001 (Note 8). The
Company is currently undertaking an effort to comply with the adoption of
Statements 141 and 142. At the date of this report, the Company has not
determined the impact of the adoption of these Statements on the Company's
consolidated financial statements, or whether it will be required to recognize
any transitional impairment losses as the cumulative effect of a change in
accounting principle.

In August 2001, the FASB issued Statement No. 144 (Statement 144), ACCOUNTING
FOR THE IMPAIRMENT OF DISPOSAL OF LONG-LIVED ASSETS, which supersedes FASB
Statement No. 121, ACCOUNTING FOR THE IMPAIRMENT OF LONG-LIVED ASSETS AND FOR
LONG-LIVED ASSETS TO BE DISPOSED OF. Statement 144 addresses financial
accounting and reporting for the impairment or disposal of long-lived assets.
The provisions of the statement are effective for financial statements issued
for fiscal years beginning after December 15, 2001, and interim periods within
those fiscal years. The Company adopted Statement 144 on January 1, 2002 and
this adoption had no impact the Company's consolidated financial statements.













                                        9
<Page>


ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE 2      BASIS OF CONSOLIDATION AND PRESENTATION

Access Anytime Bancorp, Inc. (the "Company") is a thrift holding company for its
wholly owned subsidiary FirstBank (the "Bank") and the Bank's wholly owned
subsidiary, First Equity Development Corporation ("FEDCO"). The consolidated
financial statements include the accounts and transactions of the Company, the
Bank and FEDCO. All significant intercompany accounts and transactions have been
eliminated in consolidation.

The unaudited interim financial statements have been prepared by management of
the Company, without audit. Certain information and footnote disclosures
normally included in consolidated financial statements prepared in accordance
with accounting principles generally accepted in the United States of America
have been omitted pursuant to such rules and regulations, although management
believes that the disclosures included herein are adequate to make the
information presented not misleading. In the opinion of management, all
adjustments (consisting of only normal recurring accruals) considered necessary
for presentation of the information have been included. The December 31, 2001
consolidated statement of financial condition, as presented herein, was derived
from audited financial statements, but does not include all disclosures required
by accounting principles generally accepted in the United States of America and
should be read in conjunction with the audited consolidated financial statements
of the Company for the year ended December 31, 2001.










                                       10
<Page>


ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE 3      SECURITIES

Securities have been classified in the consolidated statements of financial
condition according to management's intent. The carrying amount of securities
and their approximate fair value follows:

<Table>
<Caption>
                                                       Amortized                   Gross unrealized                 Fair
                                                          Cost                 Gains              Losses           Value
                                                       ----------             --------            ------         ----------
<S>                                                    <C>                    <C>                 <C>            <C>
AVAILABLE-FOR-SALE SECURITIES:

   March 31, 2002:
     Mortgage-backed securities:
       GNMA adjustable rate                            $ 5,094,369            $ 21,336            $23,620        $ 5,092,085
       GNMA fixed rate                                   3,792,728              64,678                 --          3,857,406
     Equity securities:
       FNMA common stock                                     6,858               1,115                 --              7,973
     Corporate bonds                                        99,691                  --                 --             99,691
     Trust preferred securities                            755,000              19,270              1,200            773,070
                                                       -----------            --------            -------        -----------
                                                       $ 9,748,646            $106,399            $24,820        $ 9,830,225
                                                       ===========            ========            =======        ===========

   December 31, 2001:
     Mortgage-backed securities:
       GNMA adjustable rate                            $ 5,529,599            $ 41,514            $13,603        $ 5,557,510
       GNMA fixed rate                                   4,135,930              68,244                 --          4,204,174
     Equity securities:
       FNMA common stock                                     6,858               1,139                 --              7,997
     Trust preferred securities                            655,000              22,500                 --            677,500
                                                       -----------            --------            -------        -----------
                                                       $10,327,387            $133,397            $13,603        $10,447,181
                                                       ===========            ========            =======        ===========
</Table>

<Table>
<Caption>
                                                       Amortized                   Gross unrealized                 Fair
                                                          Cost                 Gains              Losses           Value
                                                       ----------             --------            ------         ----------
<S>                                                    <C>                    <C>                 <C>            <C>
HELD-TO-MATURITY SECURITIES:

   March 31, 2002:
     Mortgage-backed securities:
       FHLMC adjustable rate                           $   588,957            $  4,906            $    --        $   593,863
     Corporate bonds                                       696,796              16,505                363            712,938
     Trust preferred securities                            300,000               9,200                 --            309,200
                                                       -----------            --------            -------        -----------
                                                       $ 1,585,753            $ 30,611            $   363        $ 1,616,001
                                                       ===========            ========            =======        ===========

   December 31, 2001:
     Mortgage-backed securities:
       FHLMC adjustable rate                           $   615,153            $  2,260            $    --        $   617,413
     Corporate bonds                                       696,044              22,426              4,195            714,275
     Trust preferred securities                            300,000              18,100                 --            318,100
                                                       -----------            --------            -------        -----------
                                                       $ 1,611,197            $ 42,786            $ 4,195        $ 1,649,788
                                                       ===========            ========            =======        ===========
</Table>



                                                             11
<Page>


ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
NOTE 4      LOANS HELD-FOR-SALE

The carrying amount of loans held-for-sale and their estimated fair value, as
determined on an aggregate basis, follows:

<Table>
<Caption>
                                                     Gross unrealized
                                               ----------------------------
                          Amortized cost         Gains             Losses        Fair value
                          --------------       ---------         ----------     ------------
<S>                       <C>                  <C>               <C>            <C>
March 31, 2002              $1,053,797         $  24,044         $       --     $  1,077,841
December 31, 2001            1,034,719            21,231                 --        1,055,950
</Table>

NOTE 5      LOANS RECEIVABLE

The components of loans in the consolidated statements of financial condition
were as follows:

<Table>
<Caption>
                                                            March 31,      December 31,
                                                               2002            2001
                                                           ------------    ------------
<S>                                                        <C>             <C>
First mortgage loans:
  Conventional                                             $ 71,112,337    $ 67,661,640
  FHA insured and VA guaranteed                              10,197,156       9,381,090
  Commercial real estate loans                               27,890,796      28,671,294
Commercial loans, other than mortgage                         9,088,160       9,259,407
Consumer and installment loans                               22,468,678      20,907,241
Construction loans                                            2,784,309       3,363,911
Other                                                         5,413,798       5,448,069
                                                           ------------    ------------
                                                            148,955,234     144,692,652

Less:
  Loans in process                                            1,224,640       1,390,710
  Unearned discounts, deferred loan fees, and other           1,148,691       1,072,602
  Allowance for loan losses                                     804,765         744,987
                                                           ------------    ------------
                                                           $145,777,138    $141,484,353
                                                           ============    ============
</Table>


An analysis of the changes in allowance for loan losses follows:

<Table>
<Caption>
                                                      Three Months Ended       Year Ended
                                                        March 31, 2002      December 31, 2001
                                                      ------------------    -----------------
<S>                                                   <C>                   <C>
Balance at beginning of period                           $    744,987          $    681,486
Loans charged-off                                            (115,959)             (442,827)
Recoveries                                                      7,737                56,974
                                                      ------------------    -----------------
     Net loans charged-off                                   (108,222)             (385,853)
Provision for loan losses charged to operations               168,000               449,354
                                                      ------------------    -----------------
Balance at end of period                                 $    804,765          $    744,987
                                                      ==================    =================
</Table>


                                             12
<Page>


ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
NOTE 5      LOANS RECEIVABLE (CONTINUED)

An analysis of the changes of loans to directors, executive officers, and major
stockholders is as follows:

<Table>
<Caption>
                                                      Three Months Ended       Year Ended
                                                        March 31, 2002      December 31, 2001
                                                      ------------------    -----------------
<S>                                                   <C>                   <C>
Balance at beginning of period                           $  1,429,690          $  1,279,920
Loans originated                                                   --               474,735
Loan principal payments and other reductions                  (97,436)             (324,965)
                                                      ------------------    -----------------
Balance at end of period                                 $  1,332,254          $  1,429,690
                                                      ==================    =================
</Table>

NOTE 6      NON-PERFORMING ASSETS


The composition of the Bank's portfolio of non-performing assets is shown in the
following table:

<Table>
<Caption>
                                                        March 31, 2002      December 31, 2001
                                                      ------------------    -----------------
<S>                                                   <C>                   <C>
Non-accruing loans*                                      $  1,232,554          $  1,406,910
Past due 90 days or more and still accruing                        --                    --
Other real estate                                             388,277               605,552
                                                      ------------------    -----------------
                                                         $  1,620,831          $  2,012,462
                                                      ==================    =================
Ratio of non-performing assets to total assets                   0.90%                 1.15%
                                                      ==================    =================
</Table>

  *  Primarily loans which are past due for 90 days or more


                                       13
<Page>


ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE 7      NET INCOME PER SHARE

Basic net income per share has been computed by dividing net income for the
period by the weighted average number of common shares outstanding during the
period. Diluted net income per share has been computed by dividing net income
for the period by the weighted average number of common shares outstanding
during the period adjusted for the assumed exercise of outstanding stock options
and other contingently issuable shares of common stock. Net income for basic and
diluted earnings per share are the same, as there are no contingently issuable
shares of stock whose issuance would have impacted net income.

A reconciliation between basic and diluted weighted average common shares
outstanding follows:

<Table>
<Caption>
                                                 Three Months Ended
                                                       March 31,
                                             -----------------------------
                                                  2002            2001
                                             -------------   -------------
<S>                                          <C>             <C>
Weighted average common
   shares - Basic                              1,287,408       1,254,200
Plus effect of dilutive securities:
  Stock Options                                   21,942           7,204
  Shares held by Rabbi Trust                      34,564          25,081
                                             -------------   -------------
Weighted average common
   shares - Assuming Dilution                  1,343,914       1,286,485
                                             =============   =============
</Table>

NOTE 8      GOODWILL

The Company adopted Statement 142, Goodwill and Other Intangible Assets on
January 1, 2002. The amortization expense and net income of the Company for the
quarter of initial application and the same quarter for the prior year are
presented below:

<Table>
<Caption>
                                                        For the Quarter Ended
                                                               March 31,
                                                     ---------------------------
                                                         2002          2001
                                                     ------------   ------------
<S>                                                  <C>            <C>
Reported net income                                  $    258,554   $    166,986
  Add back: Goodwill amortization, net of tax                  --         24,034
                                                     ------------   ------------
  Adjusted net income                                $    258,554   $    191,020
                                                     ============   ============
BASIC EARNINGS PER SHARE:
  Reported net income                                $       0.20   $       0.13
  Goodwill amortization, net of tax                            --           0.02
                                                     ------------   ------------
  Adjusted net income                                $       0.20   $       0.15
                                                     ============   ============
DILUTED EARNINGS PER SHARE:
  Reported net income                                $       0.19   $       0.13
  Goodwill amortization, net of tax                            --           0.02
                                                     ------------   ------------
  Adjusted net income                                $       0.19   $       0.15
                                                     ============   ============
</Table>


                                       14

<Page>


ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

THE FOLLOWING DISCUSSION SHOULD BE READ IN CONJUNCTION WITH ACCESS ANYTIME
BANCORP, INC.'S ("THE COMPANY") 2001 ANNUAL REPORT ON FORM 10-KSB.


GENERAL

The Company is a Delaware corporation which was organized in 1996 for the
purpose of becoming the thrift holding company of FirstBank (the "Bank"). The
Bank is a federally chartered stock savings bank conducting business from six
banking locations in Albuquerque, Clovis, Gallup, and Portales, New Mexico. The
Bank has a wholly owned subsidiary, FEDCO, which is currently inactive.

The Bank is principally engaged in the business of attracting retail and
commercial deposits from the general public and investing those funds in first
mortgage loans in owner occupied, single-family residential loans, residential
construction loans and commercial real estate loans. In addition, the Bank
originates consumer loans, including loans for the purchase of automobiles and
home improvement loans, and commercial business loans including Small Business
Administration loans.

The most significant outside factors influencing the operations of the Bank and
other financial institutions include general economic conditions, competition in
the local market place and the related monetary and fiscal policies of agencies
that regulate financial institutions. More specifically, the cost of funds,
primarily consisting of deposits, is influenced by interest rates on competing
investments and general market rates of interest. Lending activities are
influenced by the demand for real estate financing and other types of loans,
which in turn is affected by the interest rates at which such loans may be
offered and other factors affecting loan demand and funds availability.

FINANCIAL CONDITION

Total assets for the Company increased by $4,628,927 or 2.64%, from December 31,
2001 to March 31, 2002. The increase in assets was primarily due to an increase
of approximately $4.3 million in loans receivable. The Bank opened a new loan
production office in Albuquerque, New Mexico at 7101 Jefferson NE during April
2002.

Total liabilities increased by $4,334,197 or 2.67% for the three-month period
ended March 31, 2002. An increase of approximately $4.3 million in deposits was
the reason for the increase in total liabilities. The Bank opened an additional
depository branch in Albuquerque, New Mexico at 3301 Coors Blvd., NW during
March 2002.

                                      15

<Page>


CAPITAL ADEQUACY AND LIQUIDITY

CAPITAL ADEQUACY - Under the Financial Institutions Reform, Recovery and
Enforcement Act of 1989 ("FIRREA") and the implementation of Office of Thrift
Supervision ("OTS") regulations on December 7, 1989 the Bank must have: (1) Tier
1 or core capital equal to 3% of adjusted total assets and (2) total capital
equal to 8.0% of risk-weighted assets, which includes off-balance sheet items.

Under the Federal Deposit Insurance Corporation Improvement Act ("FDICIA"), to
be deemed "well capitalized" the minimum ratios the Bank must have are: (1) Tier
1 or core capital of 5% of adjusted total assets, (2) Tier 1 risk-based capital
of 6% of risk-weighted assets, and (3) total risk-based capital of 10% of risk
weighted assets.

The following table is a reconciliation of the Bank's capital for regulatory
purposes at March 31, 2002 as reported to the OTS.

<Table>
<Caption>
                                                                             Tier 1-         Tier 1-        Total
                                                                              Core         Risk-based     Risk-based
                                                                             Capital         Capital        Capital
                                                                          ------------    ------------    ------------
<S>                                                                       <C>             <C>             <C>
Total regulatory assets                                                   $179,424,569
Net unrealized depreciation on
   available-for-sale securities, net                                          (39,513)
Less intangible assets disallowed for
   regulatory purposes                                                      (1,987,032)
                                                                          ------------
Adjusted regulatory total assets                                          $177,398,024
                                                                          ============
Risk-based assets                                                                         $123,895,000    $123,895,000
                                                                                          ============    ============
Stockholders' equity                                                      $ 18,553,379    $ 18,553,379    $ 18,553,379
Net unrealized depreciation on
   available-for-sale securities, net                                          (39,513)        (39,513)        (39,513)
General valuation allowance                                                         --              --         804,765
Less intangible assets disallowed for
   regulatory purposes                                                      (1,987,032)     (1,987,032)     (1,987,032)
                                                                          ------------    ------------    ------------
Regulatory capital                                                          16,526,834      16,526,834      17,331,599
Regulatory capital required to be "well capitalized"                         8,869,901       7,433,700      12,389,500
                                                                          ------------    ------------    ------------
Excess regulatory capital                                                 $  7,656,933    $  9,093,134    $  4,942,099
                                                                          ============    ============    ============
Bank's capital to adjusted regulatory assets                                      9.32%
                                                                          ============
Bank's capital to risk-based assets                                                              13.34%          13.99%
                                                                                          ============    ============
</Table>

LIQUIDITY

Liquidity enables the Bank to meet withdrawals of its deposits and the needs of
its loan customers. The Bank maintains its liquidity position through
maintenance of cash resources and a core deposit base. A further source is the
Bank's ability to borrow funds. The Bank is a member of the Federal Home Loan
Bank ("FHLB") which provides a source of borrowings to the Bank for asset and
asset/liability matching. FHLB borrowings were $8.75 million at March 31, 2002
and December 31, 2001.

                                       16

<Page>


RESULTS OF OPERATIONS


THREE-MONTH COMPARATIVE ANALYSIS FOR PERIODS MARCH 31, 2002 AND 2001

Net income for the three-months ended March 31, 2002 was $258,554 or $.20 per
share compared to $166,986 or $.13 per share for the three-months ended March
31, 2001, an increase of $91,568 or 54.84%.

GOODWILL. The adoption of Statement 142 on January 1, 2002, if it had been
adopted in the prior year, would have resulted in net income of $191,020 for the
quarter ended March 31, 2001, as compared to the net income in the quarter ended
March 31, 2002 of $258,554. The net income per share would have been $0.15 per
share in the quarter ended March 31, 2001, as compared to $0.20 in the same
quarter in 2002.

NET INTEREST INCOME. Net interest income before provision for loan losses
increased by 25.05% to $1,648,073 in the three-month period ended March 31,
2002, compared to $1,317,892 for the same period in 2001. The increase in net
interest income before provision for loan losses was primarily due to a decrease
in interest expense of $300,277. The decrease in total interest expense for the
quarter ended March 31, 2002 was due to a decrease in interest expense on
deposits of $455,862, as compared to the same quarter in 2001.

PROVISION FOR LOAN LOSSES. The level of the allowance for loan losses is based
on such factors as the amount of non-performing assets, historical loss
experience, regulatory policies, general economic conditions, the estimated fair
value of the underlying collateral and other factors which may affect the
collectibility of loans. During the first quarter of 2002, the provision for
loan losses increased to $168,000 from $69,000 in the first quarter of 2001. The
increase was due to management's analysis of current conditions.

NONINTEREST INCOME. During the three-months ended March 31, 2002, noninterest
income increased by $80,361 to $409,720 compared to $329,359 in 2001. The
increase in noninterest income for the quarter ended March 31, 2002 as compared
to the same quarter in 2001 was due to an increases in other income, real estate
operations, and loan servicing and other fees of $34,156, $32,750, and $30,617,
respectively.

NONINTEREST EXPENSE. Noninterest expense increased to $1,472,771 from $1,325,015
for the quarter ended March 31, 2002 compared to the same quarter in 2001. The
$147,756 increase in noninterest expense was primarily due to an increase in
salaries and employee benefits of $161,589.

INCOME TAX EXPENSE. The income tax expense for the quarter ended March 31, 2002
increased by $72,218 to $158,468 from $86,250 in the quarter ended March 31,
2001, due to the increase in income before income taxes.


                                       17

<Page>


NET INTEREST INCOME

The Company's operating results are impacted by many factors, the most important
factor being the interest spread between the yield on loans and investments and
the cost of funds. The following table presents operating results for the
Company. The table presents for the periods indicated the total dollar amount of
interest income from average interest-earning assets and the resultant yields,
as well as the interest expense on average interest-bearing liabilities,
expressed both in dollars and rates. No tax equivalent adjustments were made and
all average balances are monthly average balances. Non-accruing loans have been
included in the table as loans carrying a zero yield.

<Table>
<Caption>
                                                                      Three Months ended March 31,
                                          ---------------------------------------------------------------------------------------
                                                             2002                                         2001
                                          ------------------------------------------   ------------------------------------------
                                             Average       Interest                      Average        Interest
                                          outstanding       earned/        Yield/      outstanding      earned/        Yield/
                                             balance         paid           rate         balance          paid          rate
                                          ------------   ------------   ------------   ------------   ------------   ------------
<S>                                       <C>            <C>            <C>            <C>            <C>            <C>
Interest-earning assets:
  Loans receivable(1)                     $146,901,416   $  2,721,977           7.41%  $122,417,821   $  2,567,568           8.39%
  Mortgage-backed securities                 9,855,193        148,611           6.03     10,451,944        170,825           6.54
Investment securities                        2,743,411         42,064           6.13      3,443,528         56,603           6.58
Other interest-earning assets               10,139,973         47,297           1.87      8,882,251        135,049           6.08
                                          ------------   ------------   ------------   ------------   ------------   ------------
    Total interest-earning assets(1)      $169,639,993   $  2,959,949           6.98%  $145,195,544   $  2,930,045           8.07%
                                          ============   ============   ============   ============   ============   ============
Interest-bearing liabilities:
  Deposits                                $149,120,556   $  1,090,774           2.93%  $138,825,793   $  1,546,636           4.46%
  Federal Home Loan Bank advances           10,719,278        101,894           3.80      2,448,925         34,001           5.55
  Other borrowings                           5,111,297        119,208           9.33      1,268,684         31,516           9.94
                                          ------------   ------------   ------------   ------------   ------------   ------------
    Total interest-bearing liabilities    $164,951,131   $  1,311,876           3.18%  $142,543,402   $  1,612,153           4.52%
                                          ============   ============   ============   ============   ============   ============
Net interest income                                      $  1,648,073                                 $  1,317,892
                                                         ============                                 ============
Net interest rate spread                                                        3.80%                                        3.55%
                                                                        ============                                 ============
Net interest-earning assets               $  4,688,862                                 $  2,652,142
                                          ============                                 ============
Net yield
   on average interest-earning assets                                           3.89%                                        3.63%
                                                                        ============                                 ============
Average interest-earning assets to
   average interest-bearing liabilities                        102.84%                                      101.86%
                                                         ============                                 ============
</Table>

(1)  Calculated net of loans in process


FORWARD-LOOKING STATEMENTS

When used in this Form 10-QSB, certain words or phrases are intended to identify
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements are subject to certain risks and
uncertainties, including changes in economic conditions in the Company's market
area, changes in policies by regulatory agencies, fluctuations in interest
rates, demand for loans in the Company's market area and competition, that could
cause actual results to differ materially from historical earnings and those
presently anticipated or projected. The Company wishes to caution readers not to
place undue reliance on any such forward-looking statements, which speak only as
of the date made. The Company wishes to advise readers that the factors listed
above could affect the Company's financial performance and could cause the
Company's actual results for

                                       18
<Page>


future periods to differ materially from any opinions or statements expressed
with respect to future periods in any current statements.

The Company does not undertake, and specifically disclaims any obligation, to
publicly release the results of any revisions which may be made to any
forward-looking statements to reflect events or circumstances after the date of
such statements or to reflect the occurrence of anticipated or unanticipated
events.







                                       19
<Page>


                           PART II - OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS

      None

ITEM 2 - CHANGES IN SECURITIES

      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

      (a)  Exhibits

           None

      (b)  Reports on Form 8-K.

           None



                                       20
<Page>


                                   SIGNATURES


      Pursuant to the requirements of Section 13 or 15(d) 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.



                                   ACCESS ANYTIME BANCORP, INC.



      Date: April 26, 2002         /s/ Norman R. Corzine
                                   --------------------------------------------
                                   Norman R. Corzine, Chairman of
                                   the Board, Chief Executive Officer
                                   (DULY AUTHORIZED REPRESENTATIVE)


      Date: April 26, 2002         /s/ Ken Huey, Jr.
                                   --------------------------------------------
                                   Ken Huey, Jr., President, Chief Financial
                                   Officer and Director
                                   (PRINCIPAL FINANCIAL AND ACCOUNTING OFFICER)
                                   (DULY AUTHORIZED REPRESENTATIVE)


                                    21