SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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

                                    FORM 10-Q
(Mark One)

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

For the quarterly period ended JUNE 30, 2000
                               -------------

                                       OR

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

For the transition period from ___________________ to __________________

                        Commission File Number 34-0-25158
                                               ----------

                            BANCORP CONNECTICUT, INC.
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

            DELAWARE                                      06-1394443
---------------------------------           ------------------------------------
   (State or Other Jurisdiction             (I.R.S. Employer Identification No.)
of Incorporation or Organization)


121 Main Street, Southington, Connecticut                   06489
--------------------------------------------------------------------------------
(Address of Principal Executive Offices)                  (Zip Code)

Registrant's Telephone Number, Including Area Code      (860) 628-0351
                                                   -----------------------------


Indicate  by check  mark  whether  the  registrant:  (1) has filed  all  reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days.  Yes X   No
                                              ---    ---

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

Common stock, $1.00 Par value -- 5,179,456 shares as of August 9, 2000
--------------------------------------------------------------------------------



                                       1
<PAGE>



                            BANCORP CONNECTICUT, INC.

                                    FORM 10-Q

                                      INDEX

PART I.
                                                                            Page
  Item 1.  Financial Statements

           Consolidated Condensed Statements of Condition as of
             June 30, 2000 (unaudited) and December 31, 1999...............   3

           Consolidated Condensed Statements of Income for the
             Three Months Ended June 30, 2000 and 1999 (unaudited).........   4

           Consolidated Condensed Statements of Income for the
             Six Months Ended June 30, 2000 and 1999 (unaudited)...........   5

           Consolidated Condensed Statements of Changes in
             Shareholders' Equity for the Six Months Ended
             June 30, 2000 and 1999 (unaudited)............................   6

           Consolidated Condensed Statements of Cash Flows for the
             Six Months Ended June 30, 2000 and 1999 (unaudited)...........   7

           Notes to Consolidated Condensed Financial Statements
             (unaudited)...................................................   8

  Item 2.  Management's Discussion and Analysis of Financial
             Condition and Results of Operations...........................  14

  Item 3.  Quantitative and Qualitative Disclosures About Market Risk......  24

PART II.

  Item 1.  Legal Proceedings...............................................  25

  Item 2.  Changes in Securities and Use of Proceeds.......................  25

  Item 3.  Defaults Upon Senior Securities.................................  25

  Item 4.  Submission of Matters to a Vote of Security Holders.............  25

  Item 5.  Other Information...............................................  26

  Item 6.  Exhibits and Reports on Form 8-K................................  26

Signatures.................................................................  28


                                       2
<PAGE>


CONSOLIDATED CONDENSED STATEMENTS OF CONDITION
BANCORP CONNECTICUT, INC.

<TABLE>
<CAPTION>
                                                                  June 30,    December 31,
(dollars in thousands, except per share data)                       2000         1999
------------------------------------------------------------------------------------------
                                                                (unaudited)    (Note 1)
<S>                                                              <C>          <C>
ASSETS
Cash and due from banks                                          $  13,151    $  13,548
Interest bearing deposits with banks                                     5          346
Federal funds sold                                                  17,450        6,725
                                                                 ---------    ---------
         Cash and cash equivalents                                  30,606       20,619
                                                                 ---------    ---------
Securities available-for-sale (at market value)                    228,786      214,595
Trading account securities                                             207          348
Federal Home Loan Bank stock                                         5,592        4,392
Loans                                                              323,727      316,093
Less:
   Deferred loan fees                                                 (728)        (702)
   Allowance for loan losses                                        (5,828)      (5,681)
                                                                 ---------    ---------
         Net loans                                                 317,171      309,710
                                                                 ---------    ---------
Deferred income taxes                                                9,623        8,535
Premises and equipment, net                                          4,204        3,971
Accrued income receivable                                            3,854        3,482
Foreclosed real estate, net                                             74          195
Other assets                                                         5,064        2,951
                                                                 ---------    ---------
         Total assets                                            $ 605,181    $ 568,798
                                                                 =========    =========

LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES:
   Deposits                                                      $ 386,658    $ 348,441
   Funds borrowed                                                  165,509      171,129
   Other liabilities                                                11,908        7,696
                                                                 ---------    ---------
         Total liabilities                                         564,075      527,266
                                                                 ---------    ---------

COMMITMENTS AND CONTINGENCIES                                           --           --

SHAREHOLDERS' EQUITY:
   Preferred stock, no par value: authorized 1,000,000 shares;
     none issued and outstanding                                        --           --
   Common stock, $1.00 par value: authorized 7,000,000 shares;
     issued 5,895,004 shares in 2000 and
     5,830,811 shares in 1999                                        5,895        5,831
   Additional paid-in capital                                       18,859       18,507
   Retained earnings                                                38,821       36,293
   Accumulated other comprehensive loss                            (13,662)     (11,611)
   Treasury stock, at cost: 715,836 shares in 2000 and
     625,836 shares in 1999                                         (8,807)      (7,488)
                                                                 ---------    ---------
         Total shareholders' equity                                 41,106       41,532
                                                                 ---------    ---------
         Total liabilities and shareholders' equity              $ 605,181    $ 568,798
                                                                 =========    =========
</TABLE>


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


                                       3
<PAGE>


CONSOLIDATED CONDENSED STATEMENTS OF INCOME
BANCORP CONNECTICUT, INC.

<TABLE>
<CAPTION>
                                                               Three Months Ended
                                                                    June 30,
                                                             -----------------------
(dollars in thousands, except per share data)                   2000         1999
------------------------------------------------------------------------------------
                                                                   (unaudited)
<S>                                                          <C>          <C>
INTEREST INCOME:
   Interest on loans, including fees                         $    6,573   $    5,970
                                                             ----------   ----------
   Interest and dividends on investment securities:
     Interest income                                              3,709        2,819
     Dividend income                                                509          487
     Interest on trading account                                     --           --
                                                             ----------   ----------
                                                                  4,218        3,306
                                                             ----------   ----------
   Interest on federal funds sold                                    57           98
   Other interest and dividends                                     108           47
                                                             ----------   ----------
       Total interest income                                     10,956        9,421
                                                             ----------   ----------
INTEREST EXPENSE:
   Savings deposits                                                 596          665
   Time deposits                                                  2,108        1,888
   NOW accounts                                                     352          311
                                                             ----------   ----------
                                                                  3,056        2,864
   Interest on borrowed money                                     2,692        1,792
                                                             ----------   ----------
       Total interest expense                                     5,748        4,656
                                                             ----------   ----------
       Net interest income                                        5,208        4,765
Provision for loan losses                                           118           35
                                                             ----------   ----------
       Net interest income after provision for loan losses        5,090        4,730
                                                             ----------   ----------
NONINTEREST INCOME:
   Net securities gains                                             119          352
   Net trading account gains                                         20           18
   Service charges on deposit accounts                              203          173
   Call options premiums                                            155           74
   Gains on sales of loans, originated for sale                     146           75
   Brokerage servicing fees                                         135           64
   Trust fees                                                        --          149
   Other                                                            149          121
                                                             ----------   ----------
     Total noninterest income                                       927        1,026
                                                             ----------   ----------
NONINTEREST EXPENSE:
   Salaries and employee benefits                                 1,658        1,682
   Furniture and equipment                                          268          243
   Net occupancy                                                    144          142
   Data processing                                                  145          162
   Advertising                                                      115          101
   Other                                                            555          638
                                                             ----------   ----------
     Total noninterest expense                                    2,885        2,968
                                                             ----------   ----------
       Income before income taxes                                 3,132        2,788
Provision for income taxes                                          933          831
                                                             ----------   ----------
       NET INCOME                                            $    2,199   $    1,957
                                                             ==========   ==========

AVERAGE COMMON SHARES OUTSTANDING:
   Basic                                                      5,211,544    5,211,496
   Diluted                                                    5,443,674    5,550,721
NET INCOME PER COMMON SHARE:
   Basic                                                     $     0.42   $     0.38
   Diluted                                                   $     0.40   $     0.35

CASH DIVIDEND PER SHARE                                      $     0.17   $     0.15

</TABLE>


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



                                       4
<PAGE>


CONSOLIDATED CONDENSED STATEMENTS OF INCOME
BANCORP CONNECTICUT, INC.

<TABLE>
<CAPTION>
                                                                   Six Months Ended
                                                                       June 30,
                                                             --------------------------
(dollars in thousands, except per share data)                    2000           1999
---------------------------------------------------------------------------------------
                                                                      (unaudited)
<S>                                                          <C>            <C>
INTEREST INCOME:
   Interest on loans, including fees                         $    12,978    $    11,758
                                                             -----------    -----------
   Interest and dividends on investment securities:
     Interest income                                               7,109          5,465
     Dividend income                                                 977          1,069
     Interest on trading account                                       6              2
                                                             -----------    -----------
                                                                   8,092          6,536
                                                             -----------    -----------
   Interest on federal funds sold                                    133            108
   Other interest and dividends                                      200             92
                                                             -----------    -----------
       Total interest income                                      21,403         18,494
                                                             -----------    -----------
INTEREST EXPENSE:
   Savings deposits                                                1,182          1,295
   Time deposits                                                   4,099          3,868
   NOW accounts                                                      693            599
                                                             -----------    -----------
                                                                   5,974          5,762
   Interest on borrowed money                                      5,079          3,480
                                                             -----------    -----------
       Total interest expense                                     11,053          9,242
                                                             -----------    -----------
       Net interest income                                        10,350          9,252
Provision for loan losses                                            236             65
                                                             -----------    -----------
       Net interest income after provision for loan losses        10,114          9,187
                                                             -----------    -----------
NONINTEREST INCOME:
   Net securities gains                                              277            754
   Net trading account losses                                        (44)            (9)
   Service charges on deposit accounts                               397            355
   Call options premiums                                             322            168
   Gains on sales of loans, originated for sale                      296            113
   Brokerage servicing fees                                          242            119
   Trust fees                                                         --            302
   Other                                                             268            201
                                                             -----------    -----------
     Total noninterest income                                      1,758          2,003
                                                             -----------    -----------
NONINTEREST EXPENSE:
   Salaries and employee benefits                                  3,342          3,281
   Furniture and equipment                                           529            483
   Net occupancy                                                     303            298
   Data processing                                                   280            285
   Advertising                                                       230            173
   Other                                                           1,165          1,311
                                                             -----------    -----------
     Total noninterest expense                                     5,849          5,831
                                                             -----------    -----------
       Income before income taxes                                  6,023          5,359
Provision for income taxes                                         1,796          1,567
                                                             -----------    -----------
       NET INCOME                                            $     4,227    $     3,792
                                                             ===========    ===========

AVERAGE COMMON SHARES OUTSTANDING:
   Basic                                                       5,218,381      5,184,218
   Diluted                                                     5,459,252      5,537,363
NET INCOME PER COMMON SHARE:
   Basic                                                     $      0.81    $      0.73
   Diluted                                                   $      0.77    $      0.68

CASH DIVIDEND PER SHARE                                      $     0.325    $     0.290

</TABLE>

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



                                       5
<PAGE>


CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
BANCORP CONNECTICUT, INC.
(unaudited)


<TABLE>
<CAPTION>
                                                                                          Accumulated
                                                                                             Other
                                                                                         Comprehensive
                                                                Additional                   Income                      Total
                                                     Common      Paid-In      Retained     Unrealized     Treasury    Shareholders'
(dollars in thousands, except per share data)         Stock      Capital      Earnings    Gains(Losses)    Stock         Equity
----------------------------------------------       -------    ----------    --------   --------------   --------    ------------

<S>                                                  <C>          <C>         <C>           <C>           <C>          <C>
BALANCE, DECEMBER 31, 1998                           $ 5,653      $17,421     $ 31,761      $    825      $(5,744)     $ 49,916
                                                                                                                       --------
   Net income                                             --           --        3,792            --           --         3,792
   Decrease in net unrealized gain on securities
     available-for-sale                                   --           --           --        (5,771)          --        (5,771)
                                                                                                                       --------
       Total comprehensive loss                                                                                          (1,979)
                                                                                                                       --------
   Stock options exercised (114,664 shares)              115          543           --            --           --           658
   Cash dividends declared ($0.29 per share)              --           --       (1,500)           --           --        (1,500)
   Treasury stock purchased (25,500 shares)               --           --           --            --         (400)         (400)
   Tax benefits related to common stock options
     exercised                                            --           84           --            --           --            84
                                                     -------      -------     --------      --------      -------      --------

BALANCE, JUNE 30, 1999                               $ 5,768      $18,048     $ 34,053      $ (4,946)     $(6,144)     $ 46,779
                                                     =======      =======     ========      ========      =======      ========


BALANCE, DECEMBER 31, 1999                           $ 5,831      $18,507     $ 36,293      $(11,611)     $(7,488)     $ 41,532
                                                                                                                       --------
   Net income                                             --           --        4,227            --           --         4,227
   Increase in net unrealized loss on securities
     available-for-sale                                   --           --           --        (2,051)          --        (2,051)
                                                                                                                       --------
       Total comprehensive income                                                                                         2,176
                                                                                                                       --------
   Stock options exercised (64,163 shares)                64          257           --            --           --           321
   Cash dividends declared ($0.325 per share)             --           --       (1,699)           --           --        (1,699)
   Treasury stock purchased (90,000 shares)               --           --           --            --       (1,319)       (1,319)
   Tax benefits related to common stock options
     exercised                                            --           95           --            --           --            95
                                                     -------      -------     --------      --------      -------      --------

BALANCE, JUNE 30, 2000                               $ 5,895      $18,859     $ 38,821      $(13,662)     $(8,807)     $ 41,106
                                                     =======      =======     ========      ========      =======      ========
</TABLE>



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



                                       6
<PAGE>


CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
BANCORP CONNECTICUT, INC.

<TABLE>
<CAPTION>
                                                                 Six Months Ended
                                                                     June 30,
                                                              ---------------------
(in thousands)                                                   2000        1999
-----------------------------------------------------------------------------------
                                                                   (unaudited)
<S>                                                           <C>          <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net income                                                 $   4,227    $  3,792
                                                              ---------    --------
   Adjustments to reconcile net income to net cash
     provided by operating activities:
       Amortization of bond premiums (accretion of
         discounts), net                                         (1,735)     (1,001)
       Deferred income tax provision (benefit)                      (31)        144
       Provision for loan losses                                    236          65
       Provision (credit) for foreclosed real estate losses         (45)         13
       Gain on sale of foreclosed real estate                       (52)         (9)
       Gains on sales of loans, originated for sale                (296)       (113)
       Proceeds from sales of loans, originated for sale         15,685       7,716
       Loans originated for sale                                (15,643)     (7,621)
       Amortization of deferred loan points                         (53)       (131)
       Net securities gains                                        (277)       (754)
       Net trading account losses                                    44           9
       Depreciation and amortization                                403         390
       Decrease (Increase) in trading account                        97        (105)
       Increase in accrued income receivable                       (372)       (172)
       Increase in other assets                                  (2,132)       (545)
       Increase in other liabilities                              4,307       1,209
                                                              ---------    --------
           Total adjustments                                        136        (905)
                                                              ---------    --------
           Net cash provided by operating activities              4,363       2,887
                                                              ---------    --------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Purchases of securities available-for-sale                   (56,501)    (71,597)
   Proceeds from sales of securities available-for-sale          37,384      51,549
   Proceeds from maturities of securities                            --      15,774
   Paydowns on mortgage-backed securities                         3,830      10,488
   Purchases of Federal Home Loan Bank stock                     (1,200)         --
   Net increase in loans                                         (7,519)    (22,181)
   Purchases of premises and equipment, net                        (633)       (143)
   Proceeds from sales of foreclosed real estate, net               363          66
                                                              ---------    --------
           Net cash used for investing activities               (24,276)    (16,044)
                                                              ---------    --------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Net increase (decrease) in time deposits                      33,979        (646)
   Net increase in other deposits                                 4,238       4,540
   Net (decrease) increase in Federal funds purchased and
     repurchase agreements                                      (18,620)     12,544
   Proceeds from other borrowings                               263,000       3,000
   Repayment of  other borrowings                              (250,000)     (2,000)
   Proceeds from exercise of stock options                          321         658
   Repurchase common stock                                       (1,319)       (400)
   Cash dividends paid                                           (1,699)     (1,500)
                                                              ---------    --------
           Net cash provided by financing activities             29,900      16,196
                                                              ---------    --------

           Net increase in cash and cash equivalents              9,987       3,039
Cash and cash equivalents at beginning of period                 20,619      11,178
                                                              ---------    --------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                    $  30,606    $ 14,217
                                                              =========    ========

NONCASH INVESTING AND FINANCING ACTIVITIES:
   Increase/decrease in net unrealized loss/gain on
     securities available-for-sale                            $  (2,051)   $ (5,771)
   Transfer of loans to foreclosed real estate                      129          57

</TABLE>


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


                                       7
<PAGE>


NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (unaudited)
BANCORP CONNECTICUT, INC.


Note 1 - Basis of Presentation
------------------------------

The consolidated  condensed financial  statements of Bancorp  Connecticut,  Inc.
(the  "Corporation")  include  the  accounts  of its  wholly  owned  subsidiary,
Southington  Savings Bank (the  "Bank").  The Bank  operates four branches and a
mortgage   lending  center  in  Southington,   Connecticut  and  one  branch  in
Wallingford,  Connecticut. It has three subsidiaries,  BCI Financial Corporation
("BCIF"),  SSB Mortgage  Corporation  ("SSBM") and SSB Insurance Services,  Inc.
("SSBI").  BCIF is an indirect auto finance  subsidiary  located in Southington,
Connecticut.  SSBM, which commenced operations during the first quarter of 1999,
is a  passive  investment  company  formed  to  take  advantage  of  changes  in
Connecticut  state tax statutes.  SSBI,  which commenced  operations  during the
second quarter of 2000, is a subsidiary which  distributes  insurance  products.
The Bank's  primary  source of revenue is providing  loans to customers  who are
either  small and middle  market  businesses  or  individuals.  All  significant
intercompany balances and transactions have been eliminated in consolidation.

The  consolidated  condensed  statement of  condition  as of June 30, 2000,  the
consolidated  condensed statements of income for the three and six month periods
ended June 30,  2000 and 1999,  and the  consolidated  condensed  statements  of
changes in shareholders'  equity and consolidated  condensed  statements of cash
flows for the six month  periods ended June 30, 2000 and 1999 have been prepared
by the  Corporation  without audit.  Certain amounts for prior periods have been
reclassified to conform to the current period presentation.

In the opinion of  management,  the financial  statements  have been prepared in
conformity with generally accepted  accounting  principles for interim financial
statements and include all adjustments necessary to present fairly the financial
position of the  Corporation  as of June 30, 2000 and the results of  operations
for the  three and six  month  periods  ended  June 30,  2000 and 1999,  and the
changes in  shareholders'  equity and cash flows for the six month periods ended
June 30,  2000 and  1999.  Results  of  operations  for the  three and six month
periods  ended June 30, 2000 are not  necessarily  indicative of results for any
other period.

The statement of condition as of December 31, 1999,  which has been included for
comparative  purposes,  has been condensed  from the audited  statements for the
year then ended.  Certain information and footnote disclosures normally included
in  financial   statements  presented  in  accordance  with  generally  accepted
accounting  principles  have  been  condensed  or  omitted.  These  consolidated
condensed financial  statements should be read in conjunction with the financial
statements and notes thereto included in the Corporation's annual report on Form
10-K for the year ended December 31, 1999.


                                       8
<PAGE>


Note 2 - Securities
-------------------

The amortized  cost,  gross  unrealized  gains and losses and  estimated  market
values of  securities  available-for-sale  as of June 30, 2000 and  December 31,
1999 were as follows:

                                                    June 30, 2000
                                   ---------------------------------------------
                                                 Gross       Gross     Estimated
                                   Amortized  Unrealized   Unrealized    Market
                                      Cost       Gains       Losses      Value
                                   ---------  ----------   ----------  ---------
                                                   (in thousands)

United States Government
  and agency obligations            $ 65,069   $     --    $ (13,336)   $ 51,733
Municipal bonds                        5,707          5         (155)      5,557
Corporate bonds                          988         --          (65)        923
Mortgage-backed securities           106,650        103       (3,341)    103,412
Capital trust preferreds              32,302         10       (3,664)     28,648
Marketable equity securities          37,985      1,056       (1,622)     37,419
Mutual funds                             784        310           --       1,094
                                    --------   --------    ---------    --------
                                    $249,485   $  1,484    $ (22,183)   $228,786
                                    ========   ========    =========    ========




                                                  December 31, 1999
                                   ---------------------------------------------
                                                 Gross       Gross     Estimated
                                   Amortized  Unrealized   Unrealized    Market
                                      Cost       Gains       Losses      Value
                                   ---------  ----------   ----------  ---------
                                                   (in thousands)

United States Government
  and agency obligations            $ 60,867   $     --    $ (10,939)   $ 49,928
Municipal bonds                        5,356          8         (132)      5,232
Corporate bonds                          944         --          (21)        923
Mortgage-backed securities            87,378          1       (3,811)     83,568
Capital trust preferreds              29,131         50       (2,582)     26,599
Marketable equity securities          47,670      1,461       (1,939)     47,192
Mutual funds                             840        326          (13)      1,153
                                    --------   --------    ---------    --------
                                    $232,186   $  1,846    $ (19,437)   $214,595
                                    ========   ========    =========    ========





                                       9
<PAGE>


Note 3 - Loans
--------------

The composition of the loan portfolio was:

                                        June 30,     December 31,
                                          2000          1999
                                       ---------      ---------
                                            (in thousands)

Commercial                             $  65,748      $  56,828
Commercial real estate                    50,100         47,961
Residential real estate                  127,325        131,942
Real estate construction                   2,284          3,250
Consumer                                  78,270         76,112
                                       ---------      ---------
                                         323,727        316,093
Less:
  Deferred loan fees                        (728)          (702)
  Allowance for loan losses               (5,828)        (5,681)
                                       ---------      ---------
    Total loans                        $ 317,171      $ 309,710
                                       =========      =========



Note 4 - Allowance for Loan and Foreclosed Real Estate Losses
-------------------------------------------------------------

Changes in the allowances were:

                                           Six Months Ended
                                               June 30,
                                       ------------------------
                                          2000          1999
                                       ---------      ---------
                                            (in thousands)

Allowance for loan losses:
  Balance, beginning of year           $   5,681      $   5,549
  Provision for loan losses                  236             65
  Loans charged-off                         (191)           (91)
  Recoveries                                 102             61
                                       ---------      ---------
  Balance, end of period               $   5,828      $   5,584
                                       =========      =========

Allowance for foreclosed
  real estate losses:
    Balance, beginning of year         $      50      $      50
    Provision (credit) for losses            (45)            13
    Write-downs, net                          --            (13)
                                       ---------      ---------
    Balance, end of period             $       5      $      50
                                       =========      =========



                                       10
<PAGE>


Note 5 - Nonperforming Assets
-----------------------------

The balances of nonperforming assets were:

                                                   June 30,     December 31,
                                                     2000           1999
                                                 ------------   ------------
                                                    (dollars in thousands)
Nonaccrual loans:
  Commercial                                        $  140         $  420
  Commercial real estate                                21             --
  Residential real estate                              740            857
  Consumer                                              53            127
                                                    ------         ------
    Total nonaccrual loans                             954          1,404
Accruing loans past due 90 days or more                 --             --
                                                    ------         ------
    Total nonperforming loans                          954          1,404
Foreclosed real estate, net                             74            195
                                                    ------         ------
    Total nonperforming assets                      $1,028         $1,599
                                                    ======         ======
Nonperforming loans as a
  percentage of total loans                           0.29%          0.44%
                                                    ======         ======
Nonperforming assets as a
  percentage of total assets                          0.17%          0.28%
                                                    ======         ======



Note 6 - Deposits
-----------------

Deposits consisted of the following:

                                                     June 30,    December 31,
                                                       2000          1999
                                                   ------------  ------------
                                                          (in thousands)

Noninterest-bearing demand deposits                  $ 41,605      $ 40,905
NOW accounts                                           50,924        49,380
Regular savings                                        72,329        69,534
Money market savings                                   31,024        31,825
Certificates of deposit - under $100,000              137,618       135,535
Certificates of deposit - $100,000 and over            52,578        20,995
Club accounts                                             580           267
                                                     --------      --------
     Total deposits                                  $386,658      $348,441
                                                     ========      ========





                                       11
<PAGE>


Note 7 - Funds Borrowed
-----------------------

Funds borrowed consisted of the following:

                                                    June 30,       December 31,
                                                      2000             1999
                                                  ------------     ------------
                                                          (in thousands)

Federal funds purchased                             $  2,500         $  2,100
Securities sold under repurchase agreements           65,679           84,699
Federal Home Loan Bank advances                       97,330           72,830
Federal Reserve Bank advances                             --           11,500
                                                    --------         --------
     Total funds borrowed                           $165,509         $171,129
                                                    ========         ========



Note 8 - Per Common Share Data
------------------------------

Basic  earnings per share is computed  using the weighted  average common shares
outstanding  during the periods  presented.  The computation of diluted earnings
per share is similar to the  computation  of basic earnings per share except the
denominator is increased to include the number of additional  common shares that
would have been outstanding if dilutive potential common shares had been issued.
The shares used in the  computations  for the three and six month  periods ended
June 30, 2000 and 1999 were as follows:

                                            Three Months Ended  Six Months Ended
                                                 June 30,            June 30,
                                            -----------------    ---------------
                                              2000      1999      2000      1999
                                              ----      ----      ----      ----
                                              (in thousands)      (in thousands)

Basic                                        5,212     5,211     5,218     5,184
Effect of dilutive stock options               232       340       241       353
                                             -----     -----     -----     -----
Diluted                                      5,444     5,551     5,459     5,537
                                             =====     =====     =====     =====



                                       12
<PAGE>


Note 9 - Shareholders' Equity
-----------------------------

The following table presents the components and related tax effects allocated to
other comprehensive income for the six month period ended June 30, 2000.

                                                 Before       Tax         Net
                                                  Tax      (Benefit)     of Tax
                                                 Amount     Expense      Amount
                                                -------     -------     -------
                                                        (in thousands)

Net unrealized losses on securities
  arising during the period                     $(2,831)    $  (963)    $(1,868)
Less: reclassification adjustment for
  gains realized in net income                      277          94         183
                                                -------     -------     -------
Net unrealized losses on securities             $(3,108)    $(1,057)    $(2,051)
                                                =======     =======     =======



The following table presents the components and related tax effects allocated to
other comprehensive income for the six month period ended June 30, 1999.

                                                 Before       Tax         Net
                                                  Tax      (Benefit)     of Tax
                                                 Amount     Expense      Amount
                                                -------     -------     -------
                                                        (in thousands)

Net unrealized losses on securities
  arising during the period                     $(7,990)    $(2,717)    $(5,273)
Less: reclassification adjustment for
  gains realized in net income                      754         256         498
                                                -------     -------     -------
Net unrealized losses on securities             $(8,744)    $(2,973)    $(5,771)
                                                =======     =======     =======



On April 21, 1999, the Corporation announced that it planned to repurchase up to
5% (260,000) of its  outstanding  common shares over the next twelve months.  On
April 20, 2000,  this share  buyback  program was  terminated.  Pursuant to that
program,  the Corporation  purchased 136,338 shares of its outstanding shares of
common stock, or 2.6% of its  outstanding  shares as of April 21, 1999 and April
20, 2000.

On April 19, 2000, the  Corporation's  Board of Director's  voted to authorize a
new share  buyback  program of up to 5% (262,000) of its  outstanding  shares of
common  stock  over the next year.  Purchases  are made from time to time in the
open market and  through  private  transactions.  The timing and amount of these
transactions,  funded through available corporate funds, will depend upon market
conditions and corporate  requirements.  Shares repurchased are held in treasury
for general  corporate  purposes  including  reissue to satisfy the  exercise of
outstanding stock options.  Through August 9, 2000, the Corporation  repurchased
60,000 shares at an average price of $14.63.



                                       13
<PAGE>


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


                  COMPARISON OF THE THREE AND SIX MONTH PERIODS
                  ---------------------------------------------
                          ENDED JUNE 30, 2000 AND 1999
                          ----------------------------


The  following  discussion  and  analysis  presents  a review  of the  financial
condition  and  results  of  operations  of  Bancorp   Connecticut,   Inc.  (the
"Corporation").  Since  Southington  Savings  Bank  (the  "Bank")  is  the  sole
subsidiary  of  the  Corporation,   the  Corporation's  earnings  and  financial
condition are predicated  almost  entirely on the  performance of the Bank. This
review should be read in conjunction with the consolidated  condensed  financial
statements and other financial data presented elsewhere herein.

CHANGES IN FINANCIAL CONDITION

INVESTMENTS - Securities  available-for-sale  increased  $14,191,000  or 6.6% to
$228,786,000  as of June 30, 2000 from  $214,595,000  as of December  31,  1999.
Purchases of securities  net of proceeds from  maturities  and sales  (excluding
realized  gains)  and  paydowns  on  mortgage-backed   securities   amounted  to
$15,287,000 during the first six months of 2000. In addition, Federal funds sold
increased  $10,725,000 to $17,450,000 at quarter end from  $6,725,000 as of year
end 1999.  This  increase  in  investments,  principally  funded  by  additional
borrowings  during  the  first  quarter  which  were  replaced  by an  inflow of
certificates  of  deposit  during  the second  quarter,  helped to  enhance  net
interest  income.  Net  unrealized  losses in the securities  portfolio  totaled
$20,699,000  as of June  30,  2000,  an  increase  of  $3,108,000,  compared  to
unrealized  losses of  $17,591,000  as of December 31, 1999. The increase in the
net unrealized losses was primarily attributable to the higher level of interest
rates  in  effect  at the end of the  second  quarter.  The  majority  of  these
unrealized   losses  are  concentrated  in  United  States  Federal  agency  and
mortgage-backed securities and are not deemed to be other than temporary losses.

As of June 30, 2000, approximately 47.3% or $17,700,000 of the marketable equity
securities  portfolio  was  comprised of money market  preferred  stocks.  These
securities are highly  liquid,  reprice every 49 days and are subject to the tax
advantages of the Federal dividends received deduction in 2000 and 1999.

Deferred  income taxes  increased  $1,088,000  to $9,623,000 as of June 30, 2000
from  $8,535,000  as of December  31, 1999 mainly as a result of the  $3,108,000
increase in unrealized losses in the securities portfolio noted above.

LOANS - Loans  increased  $7,634,000 or 2.4% to $323,727,000 as of June 30, 2000
from $316,093,000 as of December 31, 1999 primarily due to increased  commercial
loan volume  partially  offset by a reduction in residential  real estate loans.
Commercial loans and commercial real estate loans increased $11,059,000 or 10.6%
and represented  35.8% of the loan portfolio as of June 30, 2000. The guaranteed
portion  of  Small  Business   Administration   loans  purchased  accounted  for
$5,727,000  of this  commercial  loan  increase.  Residential  real estate loans
decreased by $4,617,000 or 3.5% as the Bank's focus with respect to  residential
real estate loans shifted to loans originated for sale, on a servicing  released
basis, or referral to third parties.

DEPOSITS - Total deposits  increased  $38,217,000 or 11.0% to $386,658,000 as of
June 30, 2000 from  $348,441,000  as of December 31, 1999 primarily due to a net
inflow  of  $33,666,000  in  certificates   of  deposit.   This  net  inflow  in
certificates  is mainly  attributable to an increase in large time deposits over
$100,000 with maturities under one year.

BORROWINGS  - Advances  from the Federal  Home Loan Bank of Boston (the  "FHLB")
increased by $24,500,000 or 33.6% to $97,330,000 as of June 30, 2000 compared to
$72,830,000 as of year end 1999.  Federal funds purchased  increased $400,000 to
$2,500,000  as of June 30,  2000.  Federal  Reserve Bank  advances  decreased by
$11,500,000  during the same period  resulting in no outstanding  advances as of
June  30,  2000.  Securities  sold  under  agreements  to  repurchase  decreased
$19,020,000 or 22.5% to $65,679,000 from $84,699,000. The resultant net decrease



                                       14
<PAGE>


in borrowings of $5,620,000 was primarily funded by the increase in certificates
of deposit. As of June 30, 2000,  broker/dealer repurchase agreements and retail
repurchase agreements totaled $46,500,000 and $19,179,000, respectively.

CHANGES IN RESULTS OF OPERATIONS

EARNINGS  - Net  income  for the  quarter  ended  June 30,  2000 was  $2,199,000
compared to $1,957,000 for the second quarter of 1999, an increase of 12.4%.  On
a diluted per common share basis, the Corporation  earned $.40 per share in 2000
compared  to $.35 per  share in  1999.  Increases  in net  interest  income  and
noninterest  income  (exclusive of securities  gains) coupled with a decrease in
noninterest  expense,  partially  offset by a higher  provision for loan losses,
were principally  responsible for the improved operating results. The annualized
return on average  assets for the quarter ended June 30, 2000 was 1.52% compared
to 1.46% for the same quarter last year while the return on average  equity rose
to 20.61% from 15.65% the previous  year.  The increase in the return on average
equity was due to the increase in net income  compared to the prior year quarter
as well as the increase in net unrealized losses in the securities portfolio and
the common stock  purchases under the  Corporation's  share  repurchase  program
which reduced average equity.

Net income for the six months  ended June 30,  2000 was  $4,227,000  compared to
$3,792,000 for the same period in 1999, an increase of 11.5%. An increase in net
interest  income  and  noninterest   income  (exclusive  of  securities  gains),
partially  offset by reduced  securities  gains and a higher  provision for loan
losses,  were the principal reasons for the increased  earnings.  The annualized
return on  average  assets  was 1.48% for the six  months  ended  June 30,  2000
compared to 1.43% for the same period in 1999 while the return on average equity
rose to 20.07% from 15.17% for the prior year period.

NET INTEREST  INCOME - Net interest  income,  the  difference  between  interest
earned on interest  earning  assets and  interest  expense  incurred on interest
bearing   liabilities,   is  a  significant   component  of  the   Corporation's
consolidated  condensed statements of income. Net interest income is affected by
changes in the  volumes of and rates on  interest  earning  assets and  interest
bearing  liabilities,   the  volume  of  interest  earning  assets  funded  with
noninterest  bearing  deposits  and  shareholders'  equity,  and  the  level  of
nonperforming assets.

Average interest earning assets increased by $51,763,000 or 9.9% to $574,386,000
for the three months ended June 30, 2000 from  $522,623,000 for the same quarter
in 1999.

For the  three  months  ended  June  30,  2000  net  interest  income,  on a tax
equivalent basis, increased $467,000 or 9.4% compared to the same period in 1999
primarily  as a  result  of  increases  in the  average  volume  of the loan and
invested funds  portfolios of $22,256,000  and  $29,507,000,  respectively,  and
favorable  rate  variances  mainly with  respect to  investments.  In  addition,
average  noninterest  bearing demand  deposits  increased by $4,531,000 or 13.5%
during 2000  compared to 1999 which helped  reduce the average cost of funds and
thus had a positive effect on net interest income.

The ratio of net interest income, on a tax equivalent basis, to average interest
earning  assets was 3.77% for the quarter  ended June 30, 2000 compared to 3.79%
for the same period in 1999.  The  interest  rate  spread,  on a tax  equivalent
basis,  was 3.11% in 2000 compared to 3.21% in 1999. A  proportionately  greater
rise in  interest  rates on sources  of funds  compared  with  yields on earning
assets  caused  the  decrease  in the  interest  rate  spread and margin in 2000
compared to 1999. If short-term interest rates continue to rise, some additional
compression in the net interest spread and margin is expected to occur.  Average
yields were computed on a tax  equivalent  basis using a Federal income tax rate
of 34% for 2000 and 1999 and a state  income tax rate of 0.0% for both  periods,
due to the formation of a passive investment company in 1999.

Average interest earning assets increased by $51,191,000 or 9.9% to $567,052,000
for the six months ended June 30, 2000 from  $515,861,000 for the same period in
1999.



                                       15
<PAGE>


For the six months ended June 30, 2000 net interest income,  on a tax equivalent
basis,  increased $1,094,000 or 11.3% compared to the same period in 1999 mainly
due to increases in the average volume of the loan and invested funds portfolios
of  $24,628,000  and  $26,563,000,  respectively,  and favorable  rate variances
primarily with respect to investments.  In addition, average noninterest bearing
demand  deposits  were  $3,818,000  or 11.3% higher during 2000 compared to 1999
which helped reduce the average cost of funds and thus had a positive  effect on
net interest  income.  The  interest  rate spread,  on a tax  equivalent  basis,
remained  relatively  unchanged  at 3.15% for the six months ended June 30, 2000
compared  to 3.17%  for the same  period  in 1999.  Similarly,  the ratio of net
interest income,  on a tax equivalent  basis, to average interest earning assets
was 3.79% for the six months ended June 30, 2000  compared to 3.74% for the same
period in 1999. As noted above,  if short-term  interest rates continue to rise,
some compression in the net interest spread and margin is expected to occur.

PROVISION  FOR LOAN LOSSES - For the three  months ended June 30, 2000 and 1999,
the provisions for loan losses were $118,000 and $35,000, respectively. Net loan
charge-offs  totaled  $77,000 for the second quarter of 2000 compared to $31,000
for the same period in 1999.

For the six months ended June 30, 2000 and 1999,  the provisions for loan losses
were $236,000 and $65,000,  respectively.  Net loan charge-offs  totaled $89,000
for the six  months  ended June 30,  2000  compared  to $30,000  during the same
period  in 1999.  The  allowance  for loan  losses  was  $5,828,000  or 1.80% of
outstanding  loans  as of June  30,  2000  compared  to  $5,584,000  or 1.82% of
outstanding loans as of June 30, 1999.  Nonperforming  loans were $954,000 as of
June 30, 2000 and  $1,351,000 as of June 30, 1999,  representing  .29% and .44%,
respectively, of outstanding loans.

Management   regularly  monitors  and  has  established  a  formal  process  for
determining the adequacy of the allowance for loan losses.  This process results
in an allowance that consists of two components,  allocated and unallocated. The
allocated  component  includes  allowance  estimates  that result from analyzing
certain  individual loans (including  impaired loans),  and specific loan types.
The policy of the Bank is to review all commercial loans and delinquent consumer
loans quarterly.  Up to a total of nine risk rating  classifications are used to
describe the credit risk associated with commercial and consumer loans. Of these
classifications,  the problem loan categories are: "substandard," "doubtful" and
"loss."  Loans  designated  loss are  charged-off  quarterly.  A risk  factor is
assigned by loan type to loans within each  classification  in  determining  the
respective  allowance.  For loans that are  analyzed  individually,  third-party
information such as appraisals may be used to supplement  management's analysis.
For loans that are analyzed on a pool basis, such as residential  mortgage loans
(1-4 family),  management's  analysis consists of reviewing  delinquency trends,
historical  charge-off  experience,  prevailing  economic  conditions,  size and
current  composition of the loan  portfolio,  collateral  value trends and other
relevant factors. The unallocated  component of the allowance for loan losses is
intended to  compensate  for the  subjective  nature of  estimating  an adequate
allowance  for loan  losses,  economic  uncertainties,  and other  factors.  The
unallocated  portion of the allowance for loan losses was  $1,441,000 as of June
30, 2000  compared to  $1,580,000  as of December 31, 1999 and  $1,406,000 as of
June 30, 1999. The decrease in the unallocated portion of the allowance for loan
losses as of June 30, 2000  compared to December 31, 1999  primarily  reflects a
refinement in the determination of the allocated  component of the allowance for
loan losses.



                                       16
<PAGE>


NONINTEREST INCOME - Total noninterest  income,  excluding net securities gains,
net  trading  account  gains and trust fees,  increased  by $281,000 or 55.4% to
$788,000  in the second  quarter of 2000 from  $507,000  for the same  period in
1999. The following table presents a comparison of the components of noninterest
income.

                                          Three Months Ended       Increase
                                               June 30,           (Decrease)
                                          ------------------   -----------------
                                            2000       1999    Amount    Percent
                                          -------    -------   ------    -------
(dollars in thousands)

Service charges on deposit accounts       $   203    $   173    $  30      17.3%
Call options premiums                         155         74       81     109.5%
Gains on sales of loans, originated
  for sale                                    146         75       71      94.7%
Brokerage servicing fees                      135         64       71     110.9%
Other                                         149        121       28      23.1%
                                          -------    -------    -----
                                              788        507      281      55.4%
Net securities gains                          119        352     (233)    -66.2%
Net trading account gains                      20         18        2      11.1%
Trust fees                                     --        149     (149)   -100.0%
                                          -------    -------    -----
     Total noninterest income             $   927    $ 1,026    $ (99)     -9.6%
                                          =======    =======    =====


The gains on sales of loans, originated for sale, increased $71,000 primarily as
a result of loans  generated  for sale into the  secondary  market by BCIF,  the
Bank's indirect auto finance company. Brokerage servicing fees increased $71,000
due to higher sales volume.  The increase in other income reflects increased fee
income of $17,000 from brokered commissions on residential mortgages.  The trust
operations of the Bank were sold during the third quarter of 1999.

Near the end of the  second  quarter  of  2000,  the Bank  launched  a  separate
subsidiary,  SSB Insurance Services, Inc. (SSBI), which was formed to distribute
a range of  insurance  products  to its  customers.  SSBI  entered  into a joint
marketing  agreement with a local insurance  agency and will earn commissions on
insurance coverage referrals.

Total  noninterest  income,  excluding net securities gains, net trading account
losses and trust fees,  increased by $569,000 or 59.5% to $1,525,000 for the six
months  ended  June 30,  2000 from  $956,000  for the same  period in 1999.  The
following table presents a comparison of the components of noninterest income.

                                           Six Months Ended        Increase
                                               June 30,           (Decrease)
                                          ------------------   -----------------
                                            2000       1999    Amount    Percent
                                          -------    -------   ------    -------
(dollars in thousands)

Service charges on deposit accounts       $   397    $   355    $  42      11.8%
Call options premiums                         322        168      154      91.7%
Gains on sales of loans, originated
  for sale                                    296        113      183     161.9%
Brokerage servicing fees                      242        119      123     103.4%
Other                                         268        201       67      33.3%
                                          -------    -------    -----
                                            1,525        956      569      59.5%
Net securities gains                          277        754     (477)    -63.3%
Net trading account gains                     (44)        (9)     (35)    388.9%
Trust fees                                     --        302     (302)   -100.0%
                                          -------    -------    -----
     Total noninterest income             $ 1,758    $ 2,003    $(245)    -12.2%
                                          =======    =======    =====


The gains on sales of loans,  originated for sale,  increased $183,000 primarily
as a result of loans  generated for sale into the secondary  market by BCIF, the
Bank's  indirect  auto  finance  company.  Brokerage  servicing  fees  increased
$123,000 due to higher  sales  volume.  The  increase in other  income  reflects
increased  fee  income of  $17,000  from  brokered  commissions  on  residential
mortgages and $35,000 from insurance fees recorded by the Bank.



                                       17
<PAGE>


NONINTEREST EXPENSE - Operating expenses decreased $83,000 or 2.8% to $2,885,000
in the second quarter of 2000 from $2,968,000 in 1999.

Salaries and  employee  benefits  were $24,000 or 1.4% less in 2000  compared to
1999. This decrease reflects no trust operation salaries and benefits in 2000 as
compared to approximately  $68,000 in 1999 partially offset by higher commission
salaries of $28,000 and scheduled employee annual salary increases. Higher group
medical  and  retirement  benefit  costs of  $8,200  were  more  than  offset by
decreased  utilization  of  temporary  employees  during  2000 in the  amount of
$21,000.

The expenses  related to furniture and equipment  increased  $25,000 or 10.3% to
$268,000 for the second quarter of 2000 compared to $243,000 for the same period
in 1999.  Higher  depreciation and amortization  charges of $4,000 and furniture
and equipment  write-offs  totaling $13,000 in 2000 versus a $5,000 gain in 1999
were the primary reasons for the increase.

Advertising  expense  increased  $14,000  or 13.9% to  $115,000  for the  second
quarter of 2000 compared to $101,000 for the same period in 1999  primarily as a
result of  increases  in  advertising  expenditures  to promote the Bank and its
products including Internet banking to its consumer customers.

The decrease in other  noninterest  expenses of $83,000 or 13.0% reflected a net
decrease in a number of miscellaneous  expense categories.  The most significant
decreases  in these  categories  were  $55,000 of expenses  incurred in 1999 for
outside fund management fees and other operating expenses for the internal trust
operations of the Bank, which was sold during the third quarter of 1999, and net
foreclosed  real  estate  recoveries  which  amounted  to  $57,000 in the second
quarter of 2000 versus $1,000 for the same period in 1999.

Operating  expenses  increased  $18,000 or .3% to $5,849,000  for the six months
ended June 30, 2000 from $5,831,000 in 1999.

Salaries and employee  benefits  were $61,000 or 1.9% higher in 2000 compared to
1999. This increase reflects higher commission salaries of $65,000 and scheduled
employee annual salary increases partially offset by no trust operation salaries
and benefits in 2000 as compared to approximately $139,000 in 1999. Higher group
medical  and  retirement  benefit  costs of $40,000  were more than  offset by a
decreased  utilization  of  temporary  employees  during  2000 in the  amount of
$69,000.

The expenses  related to furniture  and equipment  totaled  $529,000 for the six
months ended June 30, 2000  compared to $483,000 for the same period in 1999, an
increase of $46,000 or 9.5%.  Higher  depreciation and amortization  charges and
computer maintenance expenses totaling $9,000 and $10,000, respectively, as well
as furniture and equipment  write-offs  totaling $13,000 in 2000 versus a $5,000
gain in 1999 were the primary reasons for the increase.

Advertising  expense  increased  $57,000 or 32.9% to $230,000  for the first six
months of 2000  compared to $173,000 for the same period in 1999  primarily as a
result of  increases  in  advertising  expenditures  to promote the Bank and its
products including Internet banking to its consumer customers.

The decrease in other noninterest  expenses of $146,000 or 11.1% reflected a net
decrease in a number of miscellaneous  expense categories.  The most significant
decreases  in these  categories  were  $97,000 of expenses  incurred in 1999 for
outside fund management fees and other operating expenses for the internal trust
operations of the Bank, which was sold during the third quarter of 1999, and net
foreclosed real estate recoveries of $52,000 versus $21,000 of expenses in 1999.

PROVISION FOR INCOME TAXES - The provision for income taxes for the three months
ended  June  30,  2000  and  1999  was  $933,000  and  $831,000,   respectively,
representing effective tax rates of 29.8% for both periods.



                                       18
<PAGE>


The  provision  for income taxes for the six months ended June 30, 2000 and 1999
was $1,796,000 and $1,567,000, respectively, representing effective tax rates of
29.8% and 29.2%, respectively.

The effective  income tax rates noted above are below  statutory rates primarily
as a result of the dividends  received  deduction and the  establishment  of the
passive investment company.

On May 19, 1998, the Connecticut  state  legislature  enacted  legislation which
permits  financial  services  companies which maintain an office in Connecticut,
and have a minimum of five employees (among other provisions),  the authority to
create a limited passive  investment  company ("PIC") for the purpose of holding
for  investment  loans  collateralized  by real  estate  free  from  Connecticut
corporation  business  tax. The  regulation  is  effective  for income tax years
beginning  January 1, 1999. During the fourth quarter of 1998, the Bank formed a
passive investment  company,  SSB Mortgage  Corporation.  Subsequently,  for tax
years beginning  January 1, 1999, the  Corporation's  state tax expense has been
eliminated resulting in the lower effective tax rates mentioned above.

LIQUIDITY  - The  liquidity  of a banking  institution  reflects  its ability to
provide  funds to meet  loan  requests,  to  accommodate  possible  outflows  in
deposits and to take advantage of interest rate market opportunities. Funding of
loan requests,  providing for liability outflows and management of interest rate
fluctuations  require  continuous  analysis in order to match the  maturities of
specific  categories of short-term  loans and investments with specific types of
deposits and borrowings.  Bank liquidity is thus normally considered in terms of
the nature and mix of a banking  institution's  sources  and uses of funds.  The
Bank's Asset Liability  Committee is responsible for  implementing  the policies
and guidelines for the maintenance of prudent levels of liquidity.

The Bank's  principal  sources of funds for operations are cash flows  generated
from earnings,  deposits,  loan repayments,  borrowings from correspondent banks
and securities sold under repurchase  agreements.  Such sources are supplemented
by interest  bearing  deposits with banks,  Federal funds sold and  unencumbered
securities  available-for-sale.  Brokered deposits were not utilized as a source
of funds during 2000 or 1999, and none were outstanding as of June 30, 2000.

The Bank is a member of the Federal Home Loan Bank of Boston (the "FHLB"), which
makes substantial  borrowings  available to its members. The Bank is eligible to
borrow  against its assets in an amount not to exceed  collateral  as defined by
the FHLB. As of June 30, 2000,  qualified collateral totaled  $159,017,000.  The
Bank's actual borrowings on that date were $97,330,000.

The  inflow and  outflow  of funds is  detailed  in the  consolidated  condensed
statements  of cash flows for the six months ended June 30, 2000 and 1999 and is
summarized below.

During the current period, cash and cash equivalents increased by $9,987,000, as
net  cash  provided  by  operating   activities  and  financing   activities  of
$34,263,000 exceeded the $24,276,000 of net cash used for investing activities.

Net  cash  used for  investing  activities,  which  primarily  reflects  the net
redeployment of funds into the loan and securities  portfolios,  was $24,276,000
for the six months ended June 30,  2000.  During this  period,  the  Corporation
experienced net  originations  of loans totaling  $7,519,000 and a net increased
investment  in  securities  in the  amount of  $15,287,000,  which  were  funded
primarily by increased certificates of deposit.

The net cash provided by financing  activities of $29,900,000 for the six months
ended June 30, 2000 primarily reflected net increases in deposits of $38,217,000
and funds borrowed from the FHLB of $24,500,000 partially offset by decreases in
funds borrowed from the Federal  Reserve Bank of  $11,500,000  and Federal funds
purchased and repurchase agreements of $18,620,000.

Closely  related to the  concept of  liquidity  is the  management  of  interest
earning assets and interest  bearing  liabilities,  which focuses on maintaining
stability in the interest rate spread,  an important  factor in earnings  growth
and stability.  Emphasis is placed on maintaining a controlled rate  sensitivity
position to avoid wide swings in interest  rate spreads and to minimize risk due



                                       19
<PAGE>


to changes in interest rates. An asset or liability is considered rate sensitive
within a  specified  period  when it matures or could be  repriced  within  such
period in accordance with its contractual terms.  Management establishes overall
policy and interest rate risk  tolerance  levels which are  administered  by the
Bank's Asset Liability Committee on a monthly basis.

CAPITAL  RESOURCES  -  The  Bank  is  subject  to  various   regulatory  capital
requirements  administered  by the  Federal  banking  agencies.  Failure to meet
minimum  capital  requirements  can  initiate  certain  mandatory,  and possibly
additional discretionary,  actions by regulators that, if undertaken, could have
a direct  material  effect on the Bank's  financial  statements.  Under  capital
adequacy  guidelines and the regulatory  framework for prompt corrective action,
the Bank  must  meet  specific  capital  guidelines  that  involve  quantitative
measures of the Bank's assets, liabilities,  and certain off-balance-sheet items
as calculated under regulatory accounting practices.  The Bank's capital amounts
and  classifications  are  also  subject  to  quantitative   judgements  by  the
regulators about components, risk weightings and other factors.

Quantitative  measures  established  by  regulation to ensure  capital  adequacy
require the Bank to maintain  minimum amounts and ratios (set forth in the table
below) of total  and Tier 1  capital  (as  defined),  and of Tier 1 capital  (as
defined) to average  assets (as defined).  Management  believes,  as of June 30,
2000,  that the Bank  meets all  capital  adequacy  requirements  to which it is
subject.

To be  categorized  as well  capitalized,  the Bank must maintain the ratios set
forth in the  table  below.  Management  believes  that  there  are no events or
conditions that have occurred that would change its category.  The Bank's actual
capital amounts and ratios were (dollars in thousands):

<TABLE>
<CAPTION>
                                                                      To Be Well Capitalized
                                                                     Under Prompt Corrective
                                                  Actual                Action Provisions
                                            -----------------        -----------------------
                                             Amount    Ratio          Amount         Ratio
                                            --------  -------        --------       --------
<S>                                         <C>        <C>           <C>             <C>
As of June 30, 2000:
  Total Capital (to Risk Weighted Assets)   $ 51,771   14.07%   >/=  $ 36,797  >/=   10.0%
  Tier I Capital (to Risk Weighted Assets)    47,156   12.82%   >/=    22,078  >/=    6.0%
  Tier I Capital (to Average Assets)          47,156    8.17%   >/=    28,872  >/=    5.0%

</TABLE>


On April 19, 2000,  the Board of Directors  of the  Corporation  declared a cash
dividend of $.17 per common share which was paid on May 16, 2000 to shareholders
of record on May 1, 2000. Subsequent to June 30, 2000, the Board of Directors of
the  Corporation  declared a cash  dividend of $.17 per common share  payable on
August 15, 2000 to shareholders of record on August 1, 2000.

On April 21, 1999, the Corporation announced that it planned to repurchase up to
5% (260,000) of its  outstanding  common shares over the next twelve months.  On
April 20, 2000,  this share  buyback  program was  terminated.  Pursuant to that
program,  the Corporation  purchased 136,338 shares of its outstanding shares of
common stock, or 2.6% of its  outstanding  shares as of April 21, 1999 and April
20, 2000.

On April 19, 2000, the  Corporation's  Board of Director's  voted to authorize a
new share  buyback  program of up to 5% (262,000) of its  outstanding  shares of
common  stock  over the next year.  Purchases  are made from time to time in the
open market and  through  private  transactions.  The timing and amount of these
transactions,  funded through available corporate funds, will depend upon market
conditions and corporate  requirements.  Shares repurchased are held in treasury
for general  corporate  purposes  including  reissue to satisfy the  exercise of
outstanding stock options.  Through August 9, 2000, the Corporation  repurchased
60,000 shares at an average price of $14.63.



                                       20
<PAGE>


Average Balance Sheets, Net Interest Income and Interest Rates(a)
-----------------------------------------------------------------

<TABLE>
<CAPTION>
                                                        Three Months Ended June 30,
                                      ----------------------------------------------------------------
                                                   2000                              1999
------------------------------------------------------------------------------------------------------
                                       Average                Yield/     Average               Yield/
(dollars in thousands)                 Balance    Interest    Rate(c)    Balance    Interest   Rate(c)
------------------------------------------------------------------------------------------------------
<S>                                   <C>         <C>          <C>      <C>         <C>         <C>
ASSETS
Interest-earning assets:
  Loans(b)                            $320,770    $  6,573     8.20%    $298,514    $ 5,970     8.00%
  Taxable investment securities(c)     238,988       4,315     7.22%     209,128      3,429     6.56%
  Municipal bonds - tax exempt(c)        5,607         110     7.85%       3,495         60     6.87%
  Federal funds sold                     3,160          57     7.22%       8,433         98     4.65%
  Other interest-earning assets          5,861         108     7.37%       3,053         47     6.16%
                                      --------    --------              --------    -------
Total interest-earning assets          574,386      11,163     7.77%     522,623      9,604     7.35%
                                                  --------                          -------
Noninterest-earning assets               6,092                            14,795
                                      --------                          --------
TOTAL ASSETS                          $580,478                          $537,418
                                      ========                          ========

LIABILITIES AND EQUITY
Interest-bearing liabilities:
  NOW and savings deposits            $150,952         948     2.51%    $154,070        976     2.53%
  Time deposits                        160,003       2,108     5.27%     157,416      1,888     4.80%
  Federal funds purchased and
    repurchase agreements               69,737       1,004     5.76%      97,207      1,261     5.19%
  Other borrowings                     112,397       1,688     6.01%      41,632        531     5.10%
                                      --------    --------              --------    -------
Total interest-bearing liabilities     493,089       5,748     4.66%     450,325      4,656     4.14%
                                                  --------                          -------
Noninterest-bearing liabilities:
  Demand deposits                       38,202                            33,671
  Other                                  6,505                             3,406
Shareholders' equity                    42,682                            50,016
                                      --------                          --------
TOTAL LIABILITIES AND
  SHAREHOLDERS' EQUITY                $580,478                          $537,418
                                      ========                          ========
Net interest income on a tax
  equivalent basis(c)                                5,415                            4,948
Tax equivalent adjustment                             (207)                            (183)
                                                  --------                          -------
Net interest income                               $  5,208                          $ 4,765
                                                  ========                          =======
Net interest spread
  (tax equivalent basis)                                       3.11%                            3.21%
                                                               ====                             ====
Net interest margin
  (tax equivalent basis)                                       3.77%                            3.79%
                                                               ====                             ====
</TABLE>

(a)  Computed on an annualized basis.
(b)  Average balances for loans include nonaccrual and renegotiated balances.
(c)  Yields/Rates  are computed on a tax equivalent basis using a Federal income
     tax rate of 34% for 2000 and 1999 and a state income tax rate of 0% in 2000
     and 1999, respectively.


                                       21
<PAGE>


Average Balance Sheets, Net Interest Income and Interest Rates(a)
-----------------------------------------------------------------

<TABLE>
<CAPTION>
                                                          Six Months Ended June 30,
                                      ----------------------------------------------------------------
                                                   2000                              1999
------------------------------------------------------------------------------------------------------
                                       Average                Yield/     Average               Yield/
 (dollars in thousands)                Balance    Interest    Rate(c)    Balance    Interest   Rate(c)
------------------------------------------------------------------------------------------------------
<S>                                   <C>         <C>          <C>      <C>         <C>         <C>
ASSETS
Interest-earning assets:
  Loans(b)                            $318,063    $ 12,978     8.16%    $293,435    $11,758     8.01%
  Taxable investment securities(c)     233,286       8,264     7.08%     211,087      6,813     6.46%
  Municipal bonds - tax exempt(c)        5,581         219     7.85%       3,519        122     6.93%
  Federal funds sold                     4,281         133     6.21%       4,656        108     4.64%
  Other interest-earning assets          5,841         206     7.05%       3,164         94     5.94%
                                      --------    --------              --------    -------
Total interest-earning assets          567,052      21,800     7.69%     515,861     18,895     7.33%
                                                  --------                          -------
Noninterest-earning assets               5,475                            15,544
                                      --------                          --------
TOTAL ASSETS                          $572,527                          $531,405
                                      ========                          ========

LIABILITIES AND EQUITY
Interest-bearing liabilities:
  NOW and savings deposits            $149,290       1,875     2.51%    $150,970      1,894     2.51%
  Time deposits                        159,626       4,099     5.14%     158,490      3,868     4.88%
  Federal funds purchased and
    repurchase agreements               69,275       1,927     5.56%      92,882      2,409     5.19%
  Other borrowings                     108,476       3,152     5.81%      42,113      1,071     5.09%
                                      --------    --------              --------    -------
Total interest-bearing liabilities     486,667      11,053     4.54%     444,455      9,242     4.16%
                                                  --------                          -------
Noninterest-bearing liabilities:
  Demand deposits                       37,503                            33,685
  Other                                  6,244                             3,272
Shareholders' equity                    42,113                            49,993
                                      --------                          --------
TOTAL LIABILITIES AND
  SHAREHOLDERS' EQUITY                $572,527                          $531,405
                                      ========                          ========
Net interest income on a tax
  equivalent basis(c)                               10,747                            9,653
Tax equivalent adjustment                             (397)                            (401)
                                                  --------                          -------
Net interest income                               $ 10,350                          $ 9,252
                                                  ========                          =======
Net interest spread
  (tax equivalent basis)                                       3.15%                            3.17%
                                                               ====                             ====
Net interest margin
  (tax equivalent basis)                                       3.79%                            3.74%
                                                               ====                             ====
</TABLE>


(a)  Computed on an annualized basis.
(b)  Average balances for loans include nonaccrual and renegotiated balances.
(c)  Yields/Rates  are computed on a tax equivalent basis using a Federal income
     tax rate of 34% for 2000 and 1999 and a state income tax rate of 0% in 2000
     and 1999, respectively.


                                       22
<PAGE>


Rate/Volume Analysis
--------------------

<TABLE>
<CAPTION>
                                  Three Months Ended June 30, 2000      Six Months Ended June 30, 2000
                                       Compared to 1999                         Compared to 1999
                                  --------------------------------      -------------------------------
                                   Increase (Decrease)                   Increase (Decrease)
                                         Due to                                Due to
                                  ---------------------                 ---------------------
(in thousands)                      Volume      Rate       Net(1)         Volume      Rate      Net(1)
------------------------------------------------------------------      -------------------------------
<S>                                <C>          <C>        <C>           <C>          <C>      <C>
Interest earned on:
  Loans                            $   453      $ 150      $   603       $ 1,002      $218     $ 1,220
  Taxable investment securities        519        367          886           753       698       1,451
  Municipal bonds - tax exempt          40         10           50            79        18          97
  Federal funds sold                   (79)        38          (41)           (9)       34          25
  Other interest-earning assets         50         11           61            92        20         112
                                   -------      -----      -------       -------      ----     -------
    Total interest income              983        576        1,559         1,917       988       2,905
                                   -------      -----      -------       -------      ----     -------
Interest paid on:
  NOW and savings deposits             (20)        (8)         (28)          (21)        2         (19)
  Time deposits                         31        189          220            28       203         231
  Federal funds purchased and
    repurchase agreements             (385)       128         (257)         (647)      165        (482)
  Other borrowings                   1,048        109        1,157         1,908       173       2,081
                                   -------      -----      -------       -------      ----     -------
    Total interest expense             674        418        1,092         1,268       543       1,811
                                   -------      -----      -------       -------      ----     -------
Change in net interest income      $   309      $ 158      $   467       $   649      $445     $ 1,094
                                   =======      =====      =======       =======      ====     =======
</TABLE>


(1) The change in interest due to both tax  equivalent  rate and volume has been
allocated  to changes due to volume and changes  due to tax  equivalent  rate in
proportion to the  relationship  of the absolute dollar amounts of the change in
each.

FORWARD-LOOKING STATEMENTS

This  Form  10-Q  contains  forward-looking  statements,   including  statements
regarding the Corporation's  future operations.  All forward-looking  statements
are subject to risks and uncertainties that could cause actual results to differ
materially  from those  projected.  Factors  that could cause such a  difference
include,  without  limitation,  general  risks  associated  with the delivery of
financial  products  and  services,   fluctuating   investment  returns,   rapid
technological  change, and competition,  as well as other risks set forth in the
Corporation's   filings  with  the  Securities  and  Exchange  Commission.   The
forward-looking  statements  contained  herein speak only as of the date of this
Form 10-Q. The Corporation  expressly disclaims any obligation or undertaking to
release  publicly any updates or revisions to any such  statement to reflect any
change in the Corporation's  expectations or any change in events, conditions or
circumstances on which any such statement is based.



                                       23
<PAGE>


ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK


Market risk is the exposure to loss  resulting  from changes in interest  rates,
foreign currency exchange rates, commodity prices and equity prices. The primary
market risk to which the Bank is exposed is interest rate risk.  The majority of
the  Bank's  interest  rate risk  arises  from the  instruments,  positions  and
transactions  entered into for purposes other than trading.  They include loans,
securities  available-for-sale,  deposit liabilities,  short-term borrowings and
long-term debt. Interest rate risk occurs when assets and liabilities reprice at
different times as interest rates change.

The Bank  manages  interest  rate  risk  through  an Asset  Liability  Committee
comprised of senior management. The committee monitors exposure to interest rate
risk on a quarterly  basis using both a traditional  gap analysis and simulation
analysis.  Traditional gap analysis identifies short and long-term interest rate
positions or exposure.  Simulation  analysis  measures the amount of  short-term
earnings  at risk  under both  rising and  falling  rate  scenarios.  The Bank's
interest  rate  risk as of June 30,  2000 and  December  31,  1999  utilizing  a
simulation  model to measure the  estimated  percentage  change in net  interest
income due to an  increase or  decrease  in market  interest  rates of up to 200
basis points,  spread evenly over the next twelve  months,  is within the Bank's
established 10% of net interest income tolerance limit.






                                       24
<PAGE>


PART II.


ITEM 1.  LEGAL PROCEEDINGS

         Not applicable


ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

         Not applicable


ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

         Not applicable


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

         a.    Friday, April 28, 2000 - Annual Meeting

         b.    Directors elected at this meeting:

                    Andrew J. Meade
                    Frank R. Miller
                    Robert D. Morton
                    Dennis J. Stanek

               Directors  whose term of office as director  continued after this
               meeting:

                    Norbert H. Beauchemin
                    Walter J. Hushak
                    Frederick E. Kuhr
                    Joseph J. Laporte
                    Michael J. Karabin
                    David P. Kelly
                    Ralph G. Mann
                    Anthony S. Pizzitola

         c.1.  The election of four  directors  for a three year term who,  with
               the eight  directors  whose  term of office do not expire at this
               meeting, will constitute the full Board of Directors.

                                                  FOR           WITHHELD
                                               ---------        --------
                    Andrew J. Meade            3,979,866         42,371
                    Frank R. Miller            3,978,349         43,888
                    Robert D. Morton           3,975,533         46,704
                    Dennis J. Stanek           3,978,349         43,888


                                       25
<PAGE>


         c.2.  The ratification of the appointment of PricewaterhouseCoopers LLP
               as independent  accountants  for the fiscal year ending  December
               31, 2000.

                                        FOR         AGAINST      ABSTAIN
                                     ---------      -------      -------
                    Total votes      4,000,618       6,834        14,785


ITEM 5.  OTHER INFORMATION

         Not applicable


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)   Exhibits required by Item 601 of Regulation S-K

               Exhibit No.      Description
               -----------      -----------

               3.1              Certificate of Incorporation of Registrant
                                (Incorporated by reference to Exhibit 3.1 to the
                                Registrant's Registration Statement on Form S-4
                                (Registration No. 33-77696 the "Registration
                                Statement"))

               3.2              Bylaws of Registrant (Incorporated by reference
                                to Exhibit 3.2 to the Registration Statement)

               3.3              Certificate of Amendment of Certificate of
                                Incorporation dated May 20, 1996 (Incorporated
                                by reference to Exhibit 3.3 to the Quarterly
                                Report on Form 10-Q for the quarterly period
                                ended June 30, 1996)

               4.1              Instruments defining the rights of security
                                holders (Included in Exhibits 3.1 and 3.2)

               4.2              Form of Stock Certificate (Incorporated by
                                reference to Exhibit 4.5 to the Registrant's
                                Registration Statement on Form S-8 (Registration
                                No. 33-333-2638))

               10.1             Employment Agreement dated as of January 1,
                                1997, by and between the Bank and Robert D.
                                Morton (Incorporated by reference to Exhibit
                                10.1 to the Registrant's Annual Report on Form
                                10-K for the fiscal year ended December 31,
                                1996)

               10.2             Southington Savings Bank 1986 Stock Option Plan
                                (Incorporated by reference to Exhibit 10.2 to
                                the Registration Statement)

               10.3             Southington Savings Bank 1993 Stock Option Plan
                                (Incorporated by reference to Exhibit 10.3 to
                                the Registration Statement)



                                       26
<PAGE>


               10.4             Pension Plan of Southington Savings Bank, as
                                amended (Incorporated by reference to Exhibit
                                10.4 to the Registration Statement)

               10.5             Southington Savings Bank Supplemental Retirement
                                Plan (Incorporated by reference to Exhibit 10.5
                                to the Registrant's Quarterly Report on Form
                                10-Q for the quarterly period ended September
                                30, 1996)

               10.6             Bancorp Connecticut, Inc. 1997 Stock Option Plan
                                (Incorporated by reference to Exhibit 4.3 to the
                                Registrant's Registration Statement on Form S-8
                                (Registration No. 33-30146))

               10.7             Southington Savings Bank Supplemental Executive
                                Retirement Plan (effective December 21, 1998)
                                (Incorporated by reference to Exhibit 10.7 to
                                the Registrant's Annual Report on Form 10-K for
                                the fiscal year ended December 31, 1998)

               27               Financial Data Schedule


         (b)   Reports on Form 8-K

               The registrant filed one Report on Form 8-K during the second
               quarter of 2000.

               1. Report Date:  April 19, 2000

                  Item 5. Other Events

                       The Corporation reported its share buyback program
                       adopted on April 21, 1999 terminated. It also reported
                       the adoption of a new share buyback program of up to 5%
                       of its outstanding shares of common stock over the next
                       year.



                                       27
<PAGE>


                                   SIGNATURES


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




                                                  BANCORP CONNECTICUT, INC.
                                             ----------------------------------
                                                        (Registrant)





Date:       August 9, 2000                    /s/ Robert D. Morton
       ------------------------              ----------------------------------
                                                  Robert D. Morton
                                                  President and Chief
                                                    Executive Officer
                                                  (Principal Executive Officer)




Date:       August 9, 2000                    /s/ Phillip J. Mucha
       ------------------------              ----------------------------------
                                                  Phillip J. Mucha
                                                  Chief Financial Officer
                                                    and Treasurer/Secretary
                                                  (Principal Accounting Officer)



                                       28
<PAGE>


                                  EXHIBIT INDEX


Exhibit No.      Description
-----------      -----------

3.1              Certificate of Incorporation of Registrant (Incorporated by
                 reference to Exhibit 3.1 to the Registrant's Registration
                 Statement on Form S-4 (Registration No. 33-77696 the
                 "Registration Statement"))

3.2              Bylaws of Registrant (Incorporated by reference to Exhibit 3.2
                 to the Registration Statement)

3.3              Certificate of Amendment of Certificate of Incorporation dated
                 May 20, 1996 (Incorporated by reference to Exhibit 3.3 to the
                 Quarterly Report on Form 10-Q for the quarterly period ended
                 June 30, 1996)

4.1              Instruments defining the rights of security holders (Included
                 in Exhibits 3.1 and 3.2)

4.2              Form of Stock Certificate (Incorporated by reference to Exhibit
                 4.5 to the Registrant's Registration Statement on Form S-8
                 (Registration No. 33-333-2638))

10.1             Employment Agreement dated as of January 1, 1997, by and
                 between the Bank and Robert D. Morton (Incorporated by
                 reference to Exhibit 10.1 to the Registrant's Annual Report on
                 Form 10-K for the fiscal year ended December 31, 1996)

10.2             Southington Savings Bank 1986 Stock Option Plan (Incorporated
                 by reference to Exhibit 10.2 to the Registration Statement)

10.3             Southington Savings Bank 1993 Stock Option Plan (Incorporated
                 by reference to Exhibit 10.3 to the Registration Statement)

10.4             Pension Plan of Southington Savings Bank, as amended
                 (Incorporated by reference to Exhibit 10.4 to the Registration
                 Statement)

10.5             Southington Savings Bank Supplemental Retirement Plan
                 (incorporated by reference to Exhibit 10.5 to the Registrant's
                 Quarterly Report on Form 10-Q for the quarterly period ended
                 September 30, 1996)

10.6             Bancorp Connecticut, Inc. 1997 Stock Option Plan (Incorporated
                 by reference to Exhibit 4.3 to the Registrant's Registration
                 Statement on Form S-8 (Registration No. 33-30146))

10.7             Southington Savings Bank Supplemental Executive Retirement Plan
                 (effective December 21, 1998) (Incorporated by reference to
                 Exhibit 10.7 to the Registrant's Annual Report on Form 10-K for
                 the fiscal year ended December 31, 1998)

27               Financial Data Schedule