SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB
(Mark One)
[X]  Annual report  pursuant to section 13 or 15 (d) of the Securities  Exchange
     Act of 1934

     For the fiscal year ended March 31, 1999
                               --------------

[    ]  Transition  report  pursuant  to section  13 or 15(d) of the  Securities
     Exchange  Act of 1934  For the  transition  period  from         to       .
                                                              -------    ------

Commission File No. 0-22535

                           SISTERSVILLE BANCORP, INC.
                           --------------------------
                 (Name of Small Business Issuer in Its Charter)

Delaware                                                          31-1516424
---------------------------------------------                 ------------------
(State or Other Jurisdiction of Incorporation                 I.R.S. Employer
                                                              or Organization)
                                                              Identification No.

726 Wells Street, Sistersville, West Virginia                       26175
---------------------------------------------                       -----
(Address of Principal Executive Offices                           (Zip Code)

Issuer's Telephone Number, Including Area Code:                 (304) 652-3671
                                                                --------------

Securities registered under to Section 12(b) of the Exchange Act:       None
                                                                        ----

Securities registered under to Section 12(g) of the Exchange Act:

                     Common Stock, par value $0.10 per share
                     ---------------------------------------
                                (Title of Class)

     Check whether the issuer: (1) has 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.   .
    ---      ---

     Check if there is no disclosure  of  delinquent  filers in response to Item
405 of  Regulation  S-B  contained  in  this  form,  and no  disclosure  will be
contained,  to the  best of  registrant's  knowledge,  in  definitive  proxy  or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB. [X]

     State issuer's revenues for its most recent fiscal year: $ 2,364,637.
                                                              -----------

     The aggregate  market value of the voting stock held by  non-affiliates  of
the registrant,  based on $11.25 per share sale price of the registrant's Common
Stock on April 30, 1999, was $4,936,680.

     As  of  June  7,  1999,  there  were  567,093  outstanding  shares  of  the
registrant's Common Stock.

     Transition Small Business Disclosure Format (check one):
YES       NO   X
    ---       ---
                       DOCUMENTS INCORPORATED BY REFERENCE

     1.   Portions  of the Annual  Report to  Stockholders  for the Fiscal  Year
          ended March 31, 1999 (the "Annual Report"). (Part II)


     2.   Portions of the Proxy Statement for the Annual Meeting of Stockholders
          for the Fiscal Year ended March 31, 1999. (Part III)


<PAGE>



                                     PART I

Item 1. Description of Business
-------------------------------

Forward Looking Statements

         Sistersville  Bancorp,  Inc. (the "Company") may from time to time make
written or oral "forward-looking statements",  including statements contained in
the Company's  filings with the  Securities and Exchange  Commission  (including
this Annual Report on Form 10-KSB and the exhibits  thereto),  in its reports to
stockholders and in other communications by the Company,  which are made in good
faith by the Company  pursuant to the "safe  harbor"  provisions  of the Private
Securities Litigation Reform Act of 1995.

         These forward-looking statements involve risks and uncertainties,  such
as statements of the Company's plans,  objectives,  expectations,  estimates and
intentions,  that are subject to change based on various important factors (some
of which are beyond the Company's control). The following factors, among others,
could cause the Company's  financial  performance to differ  materially from the
plans,  objectives,  expectations,  estimates and  intentions  expressed in such
forward-looking statements: the strength of the United States economy in general
and  the  strength  of  the  local  economies  in  which  the  Company  conducts
operations;  the effects of, and changes in, trade, monetary and fiscal policies
and laws,  including  interest  rate  policies of the Board of  Governors of the
Federal  Reserve  System,   inflation,   interest  rate,   market  and  monetary
fluctuations;  the timely  development  of and  acceptance  of new  products and
services of the Company and the perceived  overall  value of these  products and
services by users,  including  the  features,  pricing  and quality  compared to
competitors'  products and  services;  the  willingness  of users to  substitute
competitors' products and services for the Company's products and services;  the
success of the  Company in  gaining  regulatory  approval  of its  products  and
services,  when required;  the impact of changes in financial services' laws and
regulations   (including  laws  concerning   taxes,   banking,   securities  and
insurance);  technological changes,  acquisitions;  changes in consumer spending
and  savings  habits;  and the  success  of the  Company at  managing  the risks
involved in the foregoing.

         The Company  cautions that the foregoing  list of important  factors is
not  exclusive.  The Company does not  undertake  to update any  forward-looking
statement,  whether written or oral, that may be made from time to time by or on
behalf of the Company.

Business of the Company

         The Company is a Delaware  corporation  organized  in March 1997 at the
direction of First Federal  Savings and Loan  Association of  Sistersville  (the
"Association")  to acquire all of the capital stock that the Association  issued
in its conversion from the mutual to stock form of ownership (the "Conversion").
On June 25, 1997,  the  Conversion  was completed and the  Association  became a
wholly  owned  subsidiary  of the Company and changed its name to First  Federal
Savings  Bank (the  "Bank").  The Company is a unitary  savings and loan holding
company which, under existing laws,  generally is not restricted in the types of
business  activities  in which it may engage  provided  that the Bank  retains a
specified  amount of its  assets in  housing-related  investments.  The  Company
conducts no significant business or operations of its own other than holding all
of the outstanding  stock of the Bank and investing the Company's portion of the
net proceeds obtained in the Conversion.

         The Bank is a federally  chartered stock savings bank  headquartered in
Sistersville,   West  Virginia.   The  Bank  is  subject  to   examination   and
comprehensive  regulation  by the Office of Thrift

                                       2
<PAGE>


Supervision  ("OTS")  and its  deposits  are  federally  insured by the  Savings
Association  Insurance Fund  ("SAIF").  The Bank is a member of and owns capital
stock in the FHLB of  Pittsburgh,  which is one of the 12 regional  banks in the
FHLB System.  Unless otherwise stated, the term "Bank" refers to both the Bank's
and Company's activities on a consolidated basis.

         The Bank  operates a  traditional  savings  bank  business,  attracting
deposit accounts from the general public and using those deposits, together with
other funds, primarily to originate and invest in loans secured by single-family
residential real estate.

Competition

         The Bank is one of many financial  institutions serving its market area
which consists of Tyler,  Pleasants,  Wetzel and Wood Counties in West Virginia.
The  competition  for  deposit  products  comes  from  other  insured  financial
institutions such as commercial banks, thrift  institutions,  credit unions, and
multi-state  regional banks in the Bank's market area. Deposit  competition also
includes a number of  insurance  products  sold by local  agents and  investment
products  such as mutual funds and other  securities  sold by local and regional
brokers. Loan competition varies depending upon market conditions and comes from
other  insured  financial   institutions   such  as  commercial  banks,   thrift
institutions, credit unions, multi-state regional banks, and mortgage bankers.

Lending Activities

         Analysis of Loan  Portfolio.  Set forth below is selected data relating
to the  composition  of the Company's loan portfolio by type of loan and type of
security on the dates indicated:

<TABLE>
<CAPTION>
                                                                  At March 31,
                                                                      1999
                                               --------------------------------------------------
                                                            1999                 1998
                                               -----------------------  -------------------------
                                                   $             %         $               %
                                               ---------      -------   --------       ---------
                                                             (Dollars in Thousands)
<S>                                           <C>           <C>        <C>            <C>
Type of Loans:
Real Estate Loans:
  Construction                                 $    119         0.48%   $    701          2.88%
  1-4 family                                     23,682        95.16      22,594         92.78
  Multi-family                                       --         0.00          --          0.00
  Commercial                                         --         0.00          --          0.00
Consumer loans:
  Automobiles                                       699         2.81         699          2.87
  Savings accounts                                  100         0.40         234          0.96
  Other                                              18         0.07          27          0.11
Commercial                                          269         1.08          96          0.39
                                                 ------       ------      ------        ------

Total loans                                      24,887       100.00%     24,351        100.00%
                                                              ======                    ======
Less:
Loans in process                                   (343)                    (463)
Deferred loan origination fees and costs            (52)                     (72)
Allowance for possible loan losses                 (172)                    (169)
                                                 ------                   ------
  Total loans, net                             $ 24,320                 $ 23,647
                                                 ======                   ======

</TABLE>

                                       3
<PAGE>



Loan Maturity Tables

         The  following  table  sets  forth  the  maturity  of the  Bank's  loan
portfolio at March 31, 1999. The table does not include prepayments or scheduled
principal  repayments.  Prepayments and scheduled principal  repayments on loans
totalled  $5.0  million and $3.5  million for the years ended March 31, 1999 and
1998,  respectively.   All  mortgage  loans  are  shown  as  maturing  based  on
contractual maturities.

                         1-4 Family
                         Real Estate
                          Mortgage Construction  Consumer Commercial    Total
                          -------- ------------  -------- ----------    -----
                                             (In Thousands)
Non-performing ........   $  --        $  --     $     2   $  --     $     2
Amounts Due:
Within 3 months .......         3         --           9      --          12
3 months to 1 Year ....         8         --          27         6        41

After 1 year:
  1 to 3 years ........       134         --         210       168       512
  3 to 5 years ........       273         --         530      --         803
  5 to 10 years .......     2,956         --          39      --       2,995
  10 to 20 years ......    13,599         --        --          95    13,694
  Over 20 years .......     6,708          119      --        --       6,827
                          -------      -------   -------   -------   -------
Total amount due ......   $23,681      $   119   $   817   $   269   $24,886
                          -------      -------   -------   -------   -------

Less:
Allowance for loan loss       138         --          34      --         172
Loans in process ......       229          114      --        --         343
Deferred loan fees ....        51         --        --        --          51
                          -------      -------   -------   -------   -------
Loans receivable, net .   $23,263      $     5   $   783   $   269   $24,320
                          =======      =======   =======   =======   =======



         The following table sets forth the dollar amount of all loans due after
March 31, 2000, which have pre-determined interest rates and which have floating
or adjustable interest rates.

                                           Floating or
                            Fixed Rates  Adjustable Rates     Total
                            -----------  ----------------     -----
                                          (In Thousands)
1-4 family .................   $23,640        $    30        $23,670
Commercial .................       263           --              263
Construction ...............       119           --              119
Consumer ...................       779           --              779
                               -------        -------        -------
  Total ....................   $24,801        $    30        $24,831
                               ======         =======        =======



                                       4
<PAGE>



                  The  following  table  shows  the  total  loan   originations,
repayments, and sales activity by the Bank for the periods indicated:

                                               Years Ended March 31,
                                               ---------------------
                                                  1999       1998
                                               ---------   ---------

Total gross loans receivable
   at beginning of period ..................   $ 24,351    $ 22,293
                                               --------    --------

Loans originated:
  1-4 family residential ...................      4,329       3,714
  Construction loans .......................        745       1,222
  Consumer loans ...........................        311         551
  Commercial business loans ................        185          80
                                               --------    --------
Total loans originated .....................      5,570       5,567
Loan principal repayments ..................     (5,034)     (3,508)
Charge-offs ................................       --            (1)
                                               --------    --------
Net loan activity ..........................        536       2,058
                                               --------    --------
Total gross loans receivable
   at end of period ........................   $ 24,887    $ 24,351
                                               ========    ========


         One- to  Four-Family  Residential  Loans.  The Bank's  primary  lending
activity  consists  of  the  origination  of  one-  to  four-family   fixed-rate
residential  mortgage  loans secured by property  located in the Bank's  primary
market areas. The Bank also originates  construction  permanent loans on one- to
four-family  residences.  The Bank generally  originates  owner-occupied one- to
four-family residential mortgage loans in amounts up to 80% of the lesser of the
appraised  value or selling price of the mortgaged  property  without  requiring
mortgage  insurance.  The Bank may  originate a mortgage loan in an amount up to
90% of the  lesser  of the  appraised  value or  selling  price  of a  mortgaged
property,  however,  mortgage  insurance is required for the amount in excess of
80% of such value. The Bank generally  retains all of the mortgage loans that it
originates.  Fixed-rate loans can have maturities of up to 30 years depending on
the terms of the loan.

         Consumer  Loans.  The Bank offers  consumer loans in order to provide a
wider range of financial services to its customers. Federal savings associations
are  permitted to make secured and unsecured  consumer  loans up to 35% of their
assets. In addition,  savings  associations have lending authority above the 35%
limitation for certain consumer loans,  such as home  improvement,  credit card,
education,  automobile,  and savings account or passbook loans. Secured consumer
loans  are  made at an  interest  rate  that is 2% above  the  rate  paid on the
underlying deposit account.  Consumer and other loans totalled $817,000, or 3.3%
of the Bank's  total  loans,  of which  loans  secured by  automobiles  totalled
$699,000,  or 2.8% of the  Bank's  total  loans  at  March  31,  1999.  The Bank
originates  automobile loans with terms of up to six years for both new and used
automobiles. Most of these automobile loans are originated directly by the Bank.

         Commercial Loans. The Bank had three commercial loan  participations as
of March 31,  1999,  totalling  $269,000.  These loans were made to a local fire
department  and a  local  hospital  for  working  capital  purposes  and a local
municipality for a commercial line of credit.



                                       5
<PAGE>

         Construction  Lending.  The Bank makes construction loans primarily for
the construction of single-family  dwellings.  The Bank will permit  owner-built
construction loans. The aggregate outstanding balance of such loans on March 31,
1999, was $119,000,  representing .5% of the Bank's total loan portfolio. All of
these loans were made to persons who are constructing properties for the purpose
of   occupying   them.   Loans   made  to   individual   property   owners   are
"construction-permanent"  loans  which  generally  provide  for the  payment  of
interest only during a construction  period,  after which the loans convert to a
permanent loan at original contractual rates.

         Loan Underwriting Risks. While consumer or other loans provide benefits
to the Bank's asset/liability management program by reducing the Bank's exposure
to interest rate changes,  due to their generally  shorter terms,  and producing
higher  yields,  such  loans may  entail  significant  additional  credit  risks
compared to  owner-occupied  residential  mortgage  lending.  However,  the Bank
believes that the higher yields and shorter  terms  compensate  the Bank for the
increased credit risk associated with such loans.

         In addition, due to the type and nature of the collateral, and, in some
cases the absence of collateral, consumer lending generally involves more credit
risk  when  compared  with one- to  four-family  residential  lending.  Consumer
lending  collections  are  typically  dependent  on  the  borrower's  continuing
financial  stability,  and thus, are more likely to be adversely effected by job
loss, divorce,  illness, and personal bankruptcy. In most cases, any repossessed
collateral for a defaulted  consumer loan will not provide an adequate source of
repayment of the outstanding loan balance.

         Construction  lending is generally considered to involve a higher level
of credit risk than one- to  four-family  residential  lending since the risk of
loss on construction loans is dependent largely upon the accuracy of the initial
estimate of the individual  property's  value upon completion of the project and
the estimated  cost  (including  interest) of the project.  If the cost estimate
proves to be  inaccurate,  the Bank may be required to advance  funds beyond the
amount originally committed to permit completion of the project.

         Loan Approval  Authority  and  Underwriting.  The Bank has  established
various  lending  limits for its officers and  maintains a Loan  Committee.  All
mortgage loan  applications are reviewed and approved by the Board of Directors,
which meets twice per month.  The Loan Committee may approve  mortgage loans but
such action must be ratified at a subsequent  Board  meeting.  The President and
Vice  President of the Bank each have the authority to approve all  applications
for consumer  loans up to $25,000 for non-real  estate  secured  loans and up to
$2,000 for unsecured loans.

         Loan Commitments.  At March 31, 1999, the Bank had $467,000 outstanding
commitments  to originate  loans and $343,000 in  undisbursed  funds  related to
construction  loans.  Management  believes that less than 1% of loan commitments
expire.

         Loans to One  Borrower.  Regulations  limit  loans to one  borrower  or
affiliated  group of borrowers in an amount equal to 15% of  unimpaired  capital
and  unimpaired  surplus of the Bank.  The Bank is  authorized  to lend up to an
additional 10% of unimpaired capital and unimpaired surplus if the loan is fully
secured by readily marketable collateral.  At March 31, 1999, the Bank's lending
limit for loans to one borrower was approximately $1.2 million.

         At March 31,  1999,  the largest  loan of the Bank was a $267,000  loan
that was secured by the borrower's residence.



                                       6
<PAGE>



Non-Performing and Problem Assets

         Loan  Delinquencies.  Loans are  reviewed  on a  monthly  basis and are
placed  on  non-accrual  status  when  considered   doubtful  of  collection  by
management.  Generally,  loans  past  due 90 days or  more  as to  principal  or
interest are placed on non-accrual  status.  Interest  accrued and unpaid at the
time a loan is placed on non-accrual  status is charged against interest income.
Subsequent cash payments are generally applied to interest income unless, in the
opinion of management,  the collection of principal and interest is doubtful. In
those cases,  subsequent  cash payments would be applied to principal.  At March
31,  1999,  nonaccrual  loans and loans past due greater  than 90 days  totalled
$2,000 or 0.01% of total assets.

Non-performing Assets

         The following table sets forth information regarding non-accrual loans,
real estate owned,  and certain other  repossessed  assets and loans.  As of the
dates   indicated,   the  Bank  had  no  loans   categorized  as  troubled  debt
restructuring within the meaning of SFAS 15.

                                                                   March 31,
                                                              ------------------
                                                                 1999     1998
                                                               -------   -------
                                                          (Dollars in Thousands)
Loans accounted for on a non-accrual basis:
Mortgage loans:
  One- to four-family .......................................   $--     $166
  Multi-family ..............................................    --      --
  Commercial ................................................    --      --
  Construction ..............................................    --      --
Consumer ....................................................      2     --
Commercial ..................................................    --      --
                                                                ----    ----
Total non-accrual loans .....................................      2     166
                                                                ----    ----
Accruing loans greater than 90 days past due: Mortgage loans:
  One- to four-family .......................................    --      --
  Multi-family ..............................................    --      --
  Commercial ................................................    --      --
  Construction ..............................................    --      --
Consumer ....................................................    --      --
Commercial ..................................................    --      --
                                                                ----    ----
Total accruing loans greater than 90 days
  past due ..................................................    --      --
                                                                ----    ----
Total non-performing loans ..................................      2     166
Real estate acquired in settlement of loans .................    --      --
                                                                ----    ----
Other non-performing assets .................................      2     166
                                                                ====    ====
Total non-performing loans to total loans ...................   0.01%   0.70%
                                                                ====    ====
Total non-performing loans to total assets ..................   0.01%   0.52%
                                                                ====    ====
Total non-performing assets to total assets .................   0.01%   0.52%
                                                                ====    ====



                                       7
<PAGE>



         Interest income that would have been recorded on loans accounted for on
a non-accrual basis under the original terms of such loans was $-0- for the year
ended March 31, 1999, and $-0- was collected and included in the Bank's interest
income from non-accrual loans for the year ended March 31, 1999.

Classified Assets

         OTS Regulations provided for a classification system for problem assets
of insured institutions.  Under this classification  system,  probable assets of
insured institutions are classified as "substandard,"  "doubtful," or "loss." An
asset is considered substandard if it is inadvertently  protected by the current
equity and paying capacity of the obligor or of the collateral  pledged, if any.
Substandard  assets include those  characterized  by the "distinct  possibility"
that the insured  institution  will sustain "some loss" if the  deficiencies are
not corrected. Assets classified as doubtful have all the weaknesses inherent in
those  classified  as  substandard,  with  the  added  characteristics  that the
weaknesses  present make  "collection  or  liquidation in full," on the basis of
currently  existing facts,  conditions,  and values,  "highly  questionable  and
improbable." Assets classified as loss are those considered  "uncollectible" and
of such little value that their  continuance as assets without the establishment
of a specific loss reserve is not warranted.  Assets may be designated  "special
mention" because a weakness that does not currently  warrant  classification  in
one of the aforementioned categories.

         When  an  insured  institution  classifies  problem  assets  as  either
substandard or doubtful,  it may establish general allowances for loan losses in
an amount  deemed  prudent by  management.  General  allowances  represent  loss
allowances which have been established to recognize the inherent risk associated
with lending activities,  but which, unlike specific  allowances,  have not been
allocated to particular problem assets. When an insured  institution  classifies
problem assets as loss, it is required either to establish a specific  allowance
for  losses  equal to 100% of that  portion  of the asset and the  amount of its
valuation  allowances  is  subject  to  review  by the OTS,  which may order the
establishment of additional  general or specific loss  allowances.  A portion of
general loss  allowances  established to cover possible losses related to assets
classified  as  substandard  or  doubtful  may be  included  in  determining  an
institutions'  regulatory capital,  while specific valuation allowances for loan
losses generally do not qualify as regulatory capital.

         On the basis of management's  review of its assets,  at March 31, 1999,
the Bank had classified  $2,000 of assets as substandard,  no assets as doubtful
nor as loss, and $15,000 assets as special mention.


                                       8
<PAGE>



Analysis of Allowance for Loan Losses

         The following table sets forth  information  with respect to the Bank's
allowance for loan losses at the dates indicated:

                                             At March 31,
                                        --------------------
                                           1999      1998
                                        ---------  ---------


Total gross loans outstanding .......   $ 24,887    $ 24,351
                                        ========    ========
Average gross loans outstanding .....   $ 24,810    $ 23,486
                                        ========    ========

Allowance balances (at beginning of
  period) ...........................   $    169    $    164
Provision (credit):
  Residential .......................          2           4
  Commercial real estate ............       --          --
  Consumer ..........................          1           2
Charge-offs
  Residential .......................       --          --
  Consumer ..........................       --            (1)
  Commercial ........................       --          --
Recoveries:
  Residential .......................       --          --
  Commercial real estate ............       --          --
  Consumer ..........................       --          --
                                        --------    --------
Allowance balance (at end of period)         172         169
                                        ========    ========
Allowance for loan losses as
a percentage of total loans .........       0.69%       0.69%
outstanding
Net loans charged off as a percentage
of average loans outstanding ........       0.00%       0.00%

--------------------
(1)  Non-performing  assets include non-accrual loans,  accruing loans more than
     90 days past due and real estate acquired in settlement of loans.

Allocation of the Allowance for Loan Losses

         The following table sets forth the allocation of the allowance for loan
losses by  category  as  prepared  by the Bank.  In  management's  opinion,  the
allocation  has,  at best,  a  limited  utility.  It is  based  on  management's
assessment  as of a given point in time of the risk  characteristics  of each of
the component parts of the total loan portfolio and is subject to changes as and
when the risk factors of each such component part change.  The allocation is not
indicative of either the specific amounts or the loan categories in which future
charge-offs may be taken,  nor should it be taken as an indicator of future loss
trends. In addition,  by presenting the allocation,  management does not mean to
imply that the  allocation  is exact or that the  allowance  has been  precisely
determined from the allocation. The allocation of the allowance to each category
is not necessarily indicative of future loss in any particular category and does
not restrict the use of the allowance to absorb losses in any category.


                                       9
<PAGE>



<TABLE>
<CAPTION>
                                                            At March 31,
                                         ------------------------------------------------------
                                               1999                       1998
                                         -----------------------    ---------------------------
                                                   Percent of                    Percent of
                                                  Loans in Each                Loans in Each
                                                    Category                     Category
                                         Amount   to Total Loans      Amount   to Total Loans
                                         ------   --------------      ------   --------------
                                                     (Dollars in Thousands)
<S>                                      <C>            <C>           <C>           <C>
Mortgages:
  One- to four-family                     $138            95.16 %      $135           92.78%
  Construction                              --             0.48          --            2.88
Consumer                                    34             3.28          34            3.94
Commercial                                  --             1.08          --            0.40
                                           ---          -------        ----          ------
     Total                                $172           100.00 %      $169          100.00%
                                           ===          =======         ===          ======

</TABLE>

Investment Activities

         Investment  Securities.  The Bank is required under federal regulations
to maintain a minimum amount of liquid assets which may be invested in specified
short term  securities and certain other  investments.  The Bank  classifies its
investments as securities  available for sale or investments  securities held to
maturity in accordance with SFAS No. 115.

         The Bank's securities available for sale and investment securities held
to  maturity  portfolios  at March 31, 1999 did not  contain  securities  of any
issuer  with an  aggregate  book  value in excess of 10% of the  Bank's  equity,
excluding  those issued by the United States  Government or its agencies.  As of
March 31, 1999,  the Bank's  investment  portfolio  was comprised of FHLB stock,
FHLMC  stock,   municipal   securities,   U.S.  federal  agency  securities  and
mortgage-backed securities with market value of $5.3 million.

         Mortgage-Backed  Securities. To supplement lending activities, the Bank
has  invested  in  residential   mortgage-backed   securities.   Mortgage-backed
securities can serve as collateral for borrowings and, through repayments,  as a
source  of  liquidity.  Mortgage-backed  securities  represent  a  participation
interest in a pool of  single-family  or other type of mortgages,  the principal
and interest payments on which are passed from the mortgage originators, through
intermediaries (generally  quasi-governmental  agencies) that pool and repackage
the participation interests in the form of securities,  to investors such as the
Bank. These  quasi-governmental  agencies guarantee the payment of principal and
interest to investors.

         The  Bank's  mortgage-backed  securities  were  classified  as  held to
maturity  and  available  for sale at March  31,  1999,  and were  issued by the
Government  National  Mortgage  Bank  ("GNMA")  and Federal  Home Loan  Mortgage
Corporation   ("FHLMC"),   representing   participating   interests   in  direct
pass-through  pools of long-term  mortgage loans  originated and serviced by the
issuers of the  securities.  Expected  maturities  will differ from  contractual
maturities due to scheduled  repayments and because borrowers may have the right
to call or prepay obligations with or without prepayment penalties.

         At March 31,  1999,  the Bank held  mortgage-backed  securities  in its
investment  securities  held to maturity  portfolio  with an  amortized  cost of
$351,000 and in its  available  for sale  portfolio  with an  amortized  cost of
$459,000. The average yield on mortgage-backed securities at March 31, 1999, was
6.28%.


                                       10


<PAGE>

         Investment Portfolio. The following table sets forth the carrying value
of the Bank's investments.

                                                              At March 31,
                                                       -------------------------
                                                         1999             1998
                                                       --------         --------
                                                        (Dollars in Thousands)

Investment Securities:
 U.S. Government and agency Securities                 $2,237            $4,111
 Municipal Securities                                     886                --
 FHLMC Stock                                            1,101             1,073
                                                        -----             -----
   Total Investment Securities                          4,224             5,184

Interest-bearing Deposits                               1,844             1,469
FHLB Stock                                                226               203
Mortgage-backed Securities                                351               527
Mortgage-backed Securities Held   For Sale
                                                          458                --
                                                       ------            ------
   Total Investments                                   $7,103            $7,383
                                                       ======            ======


                                       11

<PAGE>






         The  following  table sets forth  information  regarding  the  carrying
values,  and weighted  average  yields and  maturities of the Bank's  investment
securities  portfolio at March 31, 1999. The following  table does not take into
consideration  the effects of  scheduled  repayments  or the effects of possible
prepayments.

<TABLE>
<CAPTION>


                                                                  As of March 31, 1999
                              ------------------------------------------------------------------------------------------------------
                                                                                                                   Total
                                One Year or Less   One to Five Years Five to Ten Years More than Ten Years  Investment Securities
                                ----------------   ----------------- ----------------- -------------------  ------------------------
                               Carrying  Average   Carrying  Average Carrying  Average Carrying   Average Carrying Average   Market
                                Value     Yield     Value     Yield   Value     Yield   Value      Yield   Value    Yield    Value
                                -----     -----     -----     -----   -----     -----   -----      -----   -----    -----    -----
                                                                      (Dollars in Thousands)

<S>                             <C>       <C>       <C>       <C>    <C>        <C>     <C>       <C>     <C>      <C>     <C>
Investment Securities:
U.S.agency securities
available for sale(2)..........  $ 203     5.96%     $837      5.75%  $  997     6.11%   $200      6.85%   $2,237   6.03%   $2,237
Municipal securities(2)........     --       --        --        --       --       --     886      6.95       886   6.95       886
FHLMC Stock(2).................  1,101     0.72        --        --       --       --      --        --     1,101   0.72     1,101
Interest-bearing deposits
  in other financial
  institutions(1)..............  1,844     5.09        --        --       --       --      --        --     1,844   5.09     1,844
FHLB Stock(1)..................    226     6.50        --        --       --       --      --        --       226   6.50       226
                                ------  -------      ----     -----   ------  -------  ------  --------     -----   ----    ------
                                                                                                                    6.50
                                $3,374     3.81%     $837      5.75%    $997     6.11% $1,086      6.93%   $6,294   4.97%   $6,294
Mortgage-backed securities(3)..     --       --       123      8.02       13     6.79     673      5.96       809   6.28       816
                                ------  -------       ---    ------   ------  -------  ------  --------       ---  -----    ------
  Total........................ $3,374     3,81%     $960      6.04%  $1,010     6.12% $1,759      6.56%   $7,103   5.12%   $7,110
                                ======  =======      ====    ======   ======  =======  ======  ========    ======  =====    ======

--------------------
(1)  Recorded at cost.
(2)  Recorded at market value.
(3)  Recorded at cost, except for $459,000 in available for sale securities with
     a maturity of more than ten years which are recorded at market value.


</TABLE>

                                       12

<PAGE>


Sources of Funds

         General.  Deposits are the major source of the Bank's funds for lending
and other investment purposes. The Bank also derives funds from the amortization
and  prepayment  of  loans,  sales,  maturities,  and calls of  securities,  and
operations.  Scheduled loan principal  repayments are a relatively stable source
of  funds,   while  deposit  inflows  and  outflows  and  loan  prepayments  are
significantly influenced by general interest rates and market conditions.

         Deposits.  Consumer and commercial  deposits are attracted  principally
from within the Bank's  primary market areas through the offering of a selection
of deposit instruments  including savings accounts,  NOW accounts,  money market
accounts, and time deposits or certificate of deposit accounts.

Borrowings

         The Bank  obtained an advance from the FHLB of Pittsburgh to supplement
its supply of lendable funds. The advance from the FHLB of Pittsburgh is secured
by a pledge of the Bank's  various  assets in the amount of $20.6  million.  The
borrowing  is a 5.15% fixed  interest  obligation  with an optional  change to a
variable  interest  rate at August 21, 1999.  The advance  matures on August 31,
2008, while interest  payments are payable monthly on the outstanding  principal
balance. At March 31, 1999, the Bank had $1.0 million in borrowings  outstanding
from the FHLB of Pittsburgh.  The Bank had no FHLB advances  outstanding  during
the year ended March 31, 1998.

Personnel

         At  March  31,  1999,  the  Bank had 9  full-time  and  four  part-time
employees.  None  of  the  Bank's  employees  are  represented  by a  collective
bargaining  group. The Bank believes that its relationship with its employees is
good.

Regulation

         Set  forth  below is a brief  description  of laws  that  relate to the
regulation of the Bank and the Company.  The  description is not complete and is
qualified in its entirety by reference to applicable laws and regulations.

Company Regulation

         General.  The Company is required to register and file reports with the
OTS and is subject to regulation and  examination  by the OTS. In addition,  the
OTS has enforcement  authority over the Company and its non-savings  association
subsidiaries,  should  such  subsidiaries  be formed,  which  permits the OTS to
restrict or prohibit  activities that are determined to be a serious risk to the
Bank. This regulation and oversight is intended  primarily for the protection of
the  depositors  of the  Bank and not for the  benefit  of  stockholders  of the
Company.

         Qualified  Thrift Lender  ("QTL")  Test. As a unitary  savings and loan
holding company, the Company generally is not subject to activity  restrictions,
provided the Bank  satisfies  the QTL test. If the Company  acquired  control of
another savings institution as a separate subsidiary,  it would lose the ability
to diversity its operations into nonbanking  related activities unless the other
savings institutions each also qualify as a QTL or were acquired in a supervised
acquisition. See "Bank Regulation - Qualified Thrift Lender Test."


                                       13
<PAGE>



         Restrictions or Acquisitions. The Company must obtain approval from the
OTS before acquiring control of any other SAIF-insured savings  institution.  No
person may acquire control of a federally  insured savings  institution  without
providing  at least 60 days  written  notice  to the OTS and  giving  the OTS an
opportunity to disapprove the proposed acquisition.

Bank Regulation

         General. As a federally  chartered,  SAIF-insured  savings association,
the Bank is subject to extensive  regulation by the OTS and the Federal  Deposit
Insurance  Corporation (the "FDIC").  Lending  activities and other  investments
must  comply  with  various   federal  and  state   statutory   and   regulatory
requirements.   The  Bank  is  also  subject  to  certain  reserve  requirements
promulgated by the Board of Governors of the Federal  Reserve  System  ("Federal
Reserve System").

         Insurance of Deposit Accounts.  The Bank's deposit accounts are insured
by the SAIF to a maximum of $100,000 for each insured  member (as defined by law
and  regulation).  Insurance  of deposits may be  terminated  by the FDIC upon a
finding that the institution has engaged in unsafe or unsound  practices,  is in
an unsafe or unsound  condition  to continue  operations,  or has  violated  any
applicable law, regulation,  rule, order or condition imposed by the FDIC or the
institution's primary regulator.

         As a member of the SAIF,  the Bank pays an insurance  premium to on the
FDIC. The FDIC also maintains  another  insurance  fund, the Bank Insurance Fund
("BIF"), which primarily insures commercial bank deposits.

         The  deposit  insurance  assessment  for most SAIF  members is .064% of
deposits on an annual  basis  through the end of 1999.  During this same period,
BIF  members  will be  assessed  approximately  .013% of  deposits.  After 1999,
assessments  for BIF and SAIF members  should be the same.  It is expected  that
these continuing assessments for both SAIF and BIF members will be used to repay
outstanding Financing Corporation bond obligations.

         Regulatory  Capital  Requirements.   OTS  capital  regulations  require
savings institutions to meet three capital standards: (1) tangible capital equal
to 1.5% of total adjusted  assets,  (2) a leverage ratio (core capital) equal to
at least 3% of total adjusted assets,  and (3) risk-based capital equal to 8% of
total  risk-weighted  assets.  In  addition,  the OTS prompt  corrective  action
regulation provides that a savings institution that has a leverage capital ratio
of less than 4% (3% for institutions  receiving the highest  examination rating)
will  be  deemed  to  be  "undercapitalized"  and  may  be  subject  to  certain
restrictions.

         Dividend  and  Other  Capital  Distribution   Limitations.   A  savings
association that is a subsidiary of a savings and loan holding company,  such as
the Bank,  must file an  application  or a notice  with the OTS at least 30 days
before  making  a  capital  distribution,   including  cash  dividends.  Savings
associations  are not required to file an  application  for permission to make a
capital  distribution if the following conditions are met: (1) they are eligible
for expedited treatment under OTS regulations,  (2) they would remain adequately
capitalized   after  the   distribution,   (3)  the  annual  amount  of  capital
distribution  does not exceed net income for that year to date added to retained
net income for the two preceding years, and (4) the capital  distribution  would
not violate any  agreements  between OTS and the savings  association or any OTS
regulations. Any other distribution would require a notice to the OTS.


                                       14
<PAGE>



         In addition,  the OTS could prohibit a proposed capital distribution by
any  institution,  which would otherwise be permitted by the regulation,  if the
OTS  determines  that the  distribution  would  constitute  an unsafe or unsound
practice.

         A federal  savings  institution  is  prohibited  from  making a capital
distribution if, after making the distribution, the savings institution would be
unable to meet any one of its minimum regulatory capital requirements.  Further,
a federal  savings  institution  cannot  distribute  regulatory  capital that is
needed for its liquidation account.

         Qualified  Thrift  Lender  Test.  Savings   institutions  must  meet  a
qualified thrift lender ("QTL") test. If the Bank maintains an appropriate level
of qualified thrift investments  ("QTIs") (primarily  residential  mortgages and
related  investments,   including  certain   mortgage-related   securities)  and
otherwise  qualifies  as a  QTL,  it  will  continue  to  enjoy  full  borrowing
privileges from the FHLB of Pittsburgh.  The required  percentage of QTIs is 65%
of portfolio  assets (defined as all assets minus goodwill and other  intangible
assets,  property used by the  institution in conducting its business and liquid
assets in an amount not exceeding  20% of total  assets).  In addition,  savings
associations may include shares of stock of the FHLBs,  FNMA, and FHLMC as QTIs.
Compliance  with the QTL test is  determined  on a monthly  basis in nine out of
every 12 months.  As of March 31, 1999, the Bank was in compliance  with its QTL
requirement.

         Federal  Reserve  System.  The  Federal  Reserve  System  requires  all
depository  institutions to maintain  non-interest bearing reserves at specified
levels against their transaction accounts (primarily checking, NOW and Super NOW
checking  accounts) and non-personal time deposits.  The balances  maintained to
meet the reserve  requirements imposed by the Federal Reserve System may be used
to satisfy the liquidity  requirements that are imposed by the OTS. At March 31,
1999, the Bank was in compliance with these Federal Reserve Board requirements.

Item 2.  Description of Property
--------------------------------

(a)      Properties.

         Currently,  the Company  does not own real  property  but  utilizes the
offices of the Bank.  The Bank  operates  from its  office  located at 726 Wells
Street, Sistersville, West Virginia. The Bank owns this office facility.

(b)      Investment Policies.

         See "Item 1.  Description of Business" above for a general  description
of the Bank's  investment  policies and any  regulatory  or Board of  Directors'
percentage  of assets  limitations  regarding  certain  investments.  The Bank's
investments are primarily  acquired to produce  income,  and to a lesser extent,
possible capital gain.

         (1)  Investments in Real Estate or Interests in Real Estate.  See "Item
1.  Description  of  Business - Lending  Activities,"  "Item 1.  Description  of
Business  -  Bank   Regulation,"  and  "Item  2.  Description  of  Property  (a)
Properties" above.

         (2) Investments in Real Estate  Mortgages.  See "Item 1. Description of
Business  - Lending  Activities"  and "Item 1.  Description  of  Business - Bank
Regulation."


                                       15
<PAGE>

         (3)  Securities  of or Interests in Persons  Primarily  Engaged in Real
Estate Activities.  See "Item 1. Description of Business - Lending  Activities,"
"Item 1. Description of Business - Bank Regulation."

(c)      Description of Real Estate and Operating Data.

         Not Applicable.

Item 3.  Legal Proceedings
--------------------------

         There are various  claims and lawsuits in which the Company or the Bank
are  periodically  involved,  such as  claims  to  enforce  liens,  condemnation
proceedings  on properties in which the Bank holds  security  interests,  claims
involving  the making and  servicing of real  property  loans,  and other issues
incident to the Bank's business. In the opinion of management,  no material loss
is expected from any of such pending claims or lawsuits.

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

         No matter was submitted to a vote of security holders during the fourth
quarter of the fiscal year.

                                     PART II

Item  5.  Market for Common Equity and Related Stockholder Matters
------------------------------------------------------------------

         The  information  contained  under  the  section  captioned  "Corporate
Profile"  and "Stock  Market  Information"  of the  Company's  Annual  Report is
incorporated herein by reference.

Item  6.  Management's Discussion and Analysis or Plan of Operation
-------------------------------------------------------------------

         The  information  contained  in  the  section  captioned  "Management's
Discussion and Analysis of Financial Condition and Results of Operations" in the
Annual Report is incorporated herein by reference.

Item  7.  Financial Statements
------------------------------

         The  Registrant's   financial  statements  listed  under  Item  13  are
incorporated herein by reference.

Item 8.  Changes  in  and  Disagreements  with  Accountants  On  Accounting  and
     Financial Disclosure
--------------------------------------------------------------------------------

         There  were  no  changes  in  or  disagreements   with  accountants  on
accounting and financial disclosure during the last fiscal year.

                                    PART III

Item 9. Directors Executive Officers,  Promoters and Control Persons: Compliance
with Section 16(a) of the Exchange Act.
--------------------------------------------------------------------------------

         The information  contained under the sections  captioned "Section 16(a)
Beneficial  Ownership  Reporting  Compliance" and "Proposal I - Information with
Respect to Nominees for Director,  Directors Continuing in Office, and Executive
Officers - Election  of  Directors"  and " -  Biographical  Information"  in the
"Proxy Statement" is incorporated herein by reference.

                                       16

<PAGE>



Item 10.  Executive Compensation
--------------------------------

         The  information  contained  in the  section  captioned  "Director  and
Executive Officer Compensation" in the Proxy Statement is incorporated herein by
reference.

Item 11.  Security Ownership of Certain Beneficial Owners and Management
------------------------------------------------------------------------

         (a)      Security Ownership of Certain Beneficial Owners

                  Information  required by this item is  incorporated  herein by
                  reference  to the section  captioned  "Voting  Securities  and
                  Principal Holders Thereof" in the Proxy Statement.
         (b)      Security Ownership of Management

                  Information  required by this item is  incorporated  herein by
                  reference  to the  chart  in  the  section  captioned  "Voting
                  Securities  and  Principal  Holders  Thereof" and to the first
                  chart in the section  captioned "I - Information  with Respect
                  to Nominees for Director,  Directors Continuing in Office, and
                  Executive Officers" in the Proxy Statement.

         (c)      Management  of  the  Registrant   knows  of  no  arrangements,
                  including  any  pledge  by any  person  of  securities  of the
                  Registrant,  the  operation of which may at a subsequent  date
                  result in a change in control of the Registrant.

Item 12.  Certain Relationships and Related Transactions
--------------------------------------------------------

         The  information  required  by this  item  is  incorporated  herein  by
reference  to  the  section   captioned   "Certain   Relationships  and  Related
Transactions" in the Proxy Statement.

Item 13. Exhibits, List and Reports on Form 8-K
-----------------------------------------------

         (a)      The following documents are filed as a part of this report:

                  1.  The  following  financial  statements  and the  report  of
independent  accountants of the Registrant included in the Annual Report for the
fiscal year ended March 31, 1999, are incorporated  herein by reference and also
in Item 7 of this report.

         Report of Independent Auditors

         Consolidated Balance Sheet at March 31, 1999 and 1998.

         Consolidated  Statements  of Income for the Years  Ended March 31, 1999
and 1998.

         Consolidated  Statements  of  Comprehensive  Income for the Years Ended
March 31, 1999 and 1998.

         Consolidated  Statements  of  Stockholders'  Equity for the Years Ended
March 31, 1999 and 1998.

         Consolidated  Statements  of Cash Flows for the Years  Ended  March 31,
1999 and 1998.


                                       17

<PAGE>

         Notes to Consolidated Financial Statements.

                  2. Except for  Exhibits 11 and 27 below,  Financial  Statement
Schedules for which provision is made in the applicable  accounting  regulations
of the SEC are not required under the related  instructions or are  inapplicable
and therefore have been omitted.

                  3. The  following  exhibits  are  included  in this  Report or
incorporated herein by reference:
<TABLE>
<CAPTION>
               <S>        <C>
                  (a)      List of Exhibits:

                   3(i)    Certificate of Incorporation of Sistersville Bancorp, Inc.*

                   3(ii)   Bylaws of Sistersville Bancorp, Inc.*

                  10.1     Employment Agreement with Stanley M. Kiser*

                  10.2     1998 Stock Option Plan of Sistersville Bancorp, Inc.**

                  10.3     First Federal Savings Bank Restricted Stock Plan and Trust Agreement**

                  11       Statement regarding computation of earnings per share

                  13       Annual Report to Stockholders for the fiscal year ended March 31, 1999

                  21       Subsidiaries of the Registrant

                  23       Consent of S.R. Snodgrass, A.C.

                  27       Financial Data Schedule***

</TABLE>

     (b)  The Registrant  filed a Current Report on Form 8-K dated March 1, 1999
          to report the  repurchase  of 29,847 or 5% of its  outstanding  common
          stock pursuant to a stock repurchase program.


---------------------
*    Incorporated by reference to the  registration  statement on Form S-1 (File
     No. 333-23147) declared effective by the SEC on May 12, 1997.
**   Incorporated  by reference to the exhibits to the proxy  statement  for the
     1998 Annual  Meeting of  Stockholders  held on July 16, 1998 and filed with
     the SEC on June 2, 1998 (File No. 0-22535).
***  Filed in electronic format only.




                                       18




<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 as of June 11, 1999.


                                                    SISTERSVILLE BANCORP, INC.



                                                By: /s/Stanley M. Kiser
                                                    ----------------------------
                                                    Stanley M. Kiser
                                                    President, Chief Executive
                                                    Officer, and Director (Duly
                                                    Authorized Representative)

         Pursuant to the  requirement  of the  Securities  Exchange Act of 1934,
this  Report has been  signed  below by the  following  persons on behalf of the
Registrant and in the capacities indicated as of June 11, 1999.




/s/Stanley M. Kiser                         /s/Lester C. Doak
-----------------------------------         ------------------------------------
Stanley M. Kiser                            Lester C. Doak
President, Chief Executive Officer,         Chairman of the Board
and Director (Principal Executive
Officer)


/s/Ellen E. Thistle                         /s/Gary L. Ward
-----------------------------------         ------------------------------------
Ellen E. Thistle                            Gary L. Ward
Director                                    Director


/s/David W. Miller                          /s/Charles P. LaRue
-----------------------------------         ------------------------------------
David W. Miller                             Charles P. LaRue
Director                                    Director