SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                                   (Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2001 OR

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

                         Commission file number: 0-21765

                              RIVER VALLEY BANCORP
        (Exact name of small business issuer as specified in its charter)

           Indiana                                             35-1984567
(State or other jurisdiction of                             (I.R.S. Employer
incorporation or organization)                            Identification Number)

                                430 Clifty Drive
                             Madison, Indiana 47250
                    (Address of principal executive offices)

                                 (812) 273-4949
                           (Issuer's telephone number)


                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the issuer filed all documents and reports required to be filed by
Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities
under a plan confirmed by a court.

Yes [    ]                          No [    ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity,  as of the latest  practicable  date:  November 9, 2001 - 805,861 common
shares

Transitional Small Business Disclosure Format (Check one): Yes [ ] No [ X ]



<PAGE>


                              RIVER VALLEY BANCORP
                                   FORM 10-QSB

                                      INDEX

                                                                        Page No.

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

            Consolidated Condensed Balance Sheet                               3

            Consolidated Condensed Statement of Income                         4

            Consolidated Condensed Statement of Comprehensive Income           5

            Consolidated Condensed Statement of Cash Flows                     6

            Notes to Unaudited Consolidated Condensed Financial Statements     7

Item 2. Management's Discussion and Analysis of Financial Condition
        and Results of Operations.                                             8

PART II.OTHER INFORMATION

Item 1. Legal Proceedings                                                     13
Item 2. Changes in Securities                                                 13
Item 3. Defaults Upon Senior Securities                                       13
Item 4. Submission of Matters to a Vote of Security Holders                   13
Item 5. Other Information                                                     13
Item 6. Exhibits and Reports on Form 8-K                                      13

SIGNATURES                                                                    14




<PAGE>

PART I  FINANCIAL INFORMATION
Item 1.  Financial Statements

                              RIVER VALLEY BANCORP
                      Consolidated Condensed Balance Sheet
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                 September 30,         December 31,
                                                                      2001                 2000
                                                              --------------------- --------------------
                                                                (In Thousands, Except Share Amounts)
  Assets
<S>                                                             <C>                    <C>
       Cash and due from banks                                  $      3,293           $     3,361
       Interest-bearing demand deposits                                2,915                 3,021
                                                              -------------------- ---------------------
           Cash and cash equivalents                                   6,208                 6,382
       Investment securities available for sale                       10,951                 7,247
       Loans                                                         160,754               142,672
           Allowance for loan losses                                   1,871                 1,702
                                                              -------------------- ---------------------
                Net Loans                                            158,883               140,970
       Premises and equipment                                          5,000                 2,817
       Federal Home Loan Bank stock                                    1,150                   943
       Interest receivable                                             1,575                 1,468
       Other assets                                                    2,346                 2,303
                                                              -------------------- ---------------------
            Total assets                                          $  186,113            $  162,130
                                                              ==================== =====================

  Liabilities
       Deposits
           Non-interest-bearing                                  $    10,377          $      9,170
           Interest-bearing                                          136,084               121,055
                                                              -------------------- ---------------------
                Total deposits                                       146,461               130,225
       Borrowings                                                     20,450                13,450
       Interest payable                                                  598                   598
       Other liabilities                                               1,105                   673
                                                              -------------------- ---------------------
           Total liabilities                                         168,614               144,946
                                                              -------------------- ---------------------
</TABLE>



<TABLE>
<CAPTION>

  Commitments and Contingencies

  Shareholders' Equity
       Preferred stock,  without par value
           Authorized and unissued - 2,000,000 shares
       Common stock, without par value
           Authorized - 5,000,000 shares
           Issued and outstanding - 805,861 and 868,874 shares
<S>                                                                    <C>                   <C>
       Additional paid-in capital                                      7,562                 8,135
       Retained earnings                                              10,328                 9,753
       Shares acquired by stock benefit plans                           (586)                 (734)
       Accumulated other comprehensive income                            195                    30
                                                              -------------------- ---------------------
           Total shareholders' equity                                 17,499                17,184
                                                              -------------------- ---------------------

           Total liabilities and shareholders' equity             $  186,113            $  162,130
                                                              ==================== =====================
</TABLE>

  See notes to consolidated condensed financial statements.



<PAGE>


                              RIVER VALLEY BANCORP
                   Consolidated Condensed Statement of Income
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                           Nine Months Ended          Three Months Ended
                                                             September 30,              September 30,
                                                         ------------ ------------- ------------- ------------
                                                            2001         2000           2001         2000
                                                         ------------ ------------- ------------- ------------
Interest Income                                                  (In Thousands, Except Share Amounts)

<S>                                                      <C>           <C>             <C>         <C>
     Loans receivable                                     $ 9,192      $ 7,498         $ 3,128     $ 2,716
     Investment securities                                    398          316             147         106
     Interest-earning deposits and other                      203          246              56          58
                                                         ------------ ----------- ------------- ----------------
         Total interest income                              9,793        8,060           3,331       2,880
                                                         ------------ ----------- ------------- ----------------

Interest Expense
     Deposits                                               4,423        3,690           1,421       1,317
     Borrowings                                               678          305             231         148
                                                         ------------ ----------- ------------- ----------------
         Total interest expense                             5,101        3,995           1,652       1,465
                                                         ------------ ----------- ------------- ----------------

Net Interest Income                                         4,692        4,065           1,679       1,415
     Provision for loan losses                                310          132             110          75
                                                         ------------ ----------- ------------- ----------------
Net Interest Income After Provision for Loan Losses         4,382        3,933           1,569       1,340
                                                         ------------ ----------- ------------- ----------------

Other Income
     Gains (losses) on investment securities                    9           (4)              8
     Service fees and charges                                 688          711             247         281
     Net gains on loan sales                                  374           30             157           6
     Other income                                              23           84               7           8
                                                         ------------ ----------- ------------- ----------------
         Total other income                                 1,094          821             421         295
                                                         ------------ ----------- ------------- ----------------

Other Expenses
     Salaries and employee benefits                         1,603        1,542             540         547
     Net occupancy and equipment expenses                     442          427             164         140
     Data processing fees                                     125          107              41          43
     Advertising                                              160          130              20          43
     Legal and professional fees                              122          108              21          38
     Other expenses                                           739          534             294         188
                                                         ------------ ----------- ------------- ----------------
         Total other expenses                               3,191        2,848           1,126         999
                                                         ------------ ----------- ------------- ----------------

Income Before Income Tax                                     2285        1,906             864         636
     Income tax expense                                       881          707             334         224
                                                         ------------ ----------- ------------- ----------------

Net Income                                                $ 1,404      $ 1,199         $   530     $   412
                                                         ============ =========== ============= ================

Basic earnings per share                                  $  1.76      $  1.39         $   .68     $   .48
Diluted earnings per share                                   1.72         1.39             .66         .48
</TABLE>


See notes to consolidated condensed financial statements.


<PAGE>


                              RIVER VALLEY BANCORP
            Consolidated Condensed Statement of Comprehensive Income
                                   (Unaudited)

<TABLE>
<CAPTION>



                                                                   Nine Months Ended            Three Months Ended
                                                                     September 30,                 September 30,
                                                              -------------- -------------- ------------- ------------
                                                                  2001           2000           2001         2000
                                                              -------------- -------------- ------------- ------------
                                                                                   (In Thousands)

<S>                                                             <C>              <C>           <C>           <C>
  Net income                                                    $ 1,404          $1,199        $ 530         $412
  Other comprehensive income, net of tax
        Unrealized gains on securities available for sale
            Unrealized holding gains arising during the
            period, net of tax expense of
            $112, $9, $75 and $5.                                   170              14          115            8
            Less: Reclassification adjustment for gains
            (losses) included in net income, net of tax
            expense (benefit) of $4, $(1) and $3.                     5              (3)           5
                                                              -------------- ------------ ------------- ------------
                                                                    165              17          110            8
                                                              -------------- ------------ ------------- ------------
   Comprehensive income                                          $1,569          $1,216        $ 640         $420
                                                              ============== ============ ============= ============

</TABLE>

See notes to consolidated condensed financial statements.


<PAGE>

                              RIVER VALLEY BANCORP
                 Consolidated Condensed Statement of Cash Flows
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                          Nine Months Ended
                                                                            September 30,
                                                                 -------------------- -------------------
                                                                        2001                2000
                                                                 -------------------- -------------------
  Operating Activities                                                       (In Thousands)
<S>                                                                   <C>                 <C>
       Net income                                                     $ 1,404             $  1,199
       Adjustments to reconcile net income to net cash
        provided by operating activities
         Provision for loan losses                                        310                  132
         Depreciation and amortization                                    291                  177
         Amortization of goodwill                                           5                    5
         Investment securities accretion, net                               5                  (26)
         Investment securities (gains)  losses                             (9)                   4
         Loans originated for sale in the secondary market            (23,163)              (1,752)
         Proceeds from sale of loans in the secondary market           23,308                1,769
         Gain on sale of loans                                           (145)                 (17)
         Amortization of deferred loan origination cost                   114                   63
         Amortization of expense related to stock benefit plans           202                  120
         Gain on sale of premises and equipment                                                (42)
         Capitalized interest on construction                             (68)
         Net change in:
           Interest receivable                                           (107)                (382)
           Interest payable                                                50                  186
         Other adjustments                                                310                  304
                                                                 -------------------- -------------------
                Net cash provided by operating activities               2,507                1,740
                                                                 -------------------- -------------------
  Investing Activities
       Purchases of securities available for sale                     (10,299)              (3,947)
       Proceeds from maturities of securities available for sale        3,191                6,002
       Proceeds from sale of securities available for sale              3,649                  569
       Proceeds from maturities of securities held to maturity                               1,204
       Purchase of Federal Home Loan Bank stock                          (207)
       Net change in loans                                            (18,434)             (20,495)
       Premiums paid on life insurance                                    (95)                (216)
       Purchases of premises and equipment                             (2,406)                (639)
       Proceeds from sale of premises and equipment                                             56
                                                                 -------------------- -------------------
                Net cash used by investing activities                 (24,601)             (17,466)
                                                                 -------------------- -------------------
  Financing Activities
       Net change in
          Noninterest-bearing, interest-bearing demand and
             savings deposits                                           9,202               (1,972)
          Certificates of deposit                                       7,034               15,765
       Proceeds from borrowings                                        26,000               10,000
       Repayment of borrowings                                        (19,000)              (7,050)
       Cash dividends                                                    (175)                (235)
       Purchase of stock                                               (1,182)                (815)
       Stock options exercised                                             15
       Advances by borrowers for taxes and insurance                       26                   23
                                                                 -------------------- -------------------
                Net cash provided by financing activities              21,920               15,716
                                                                 -------------------- -------------------

  Net Change in Cash and Cash Equivalents                                (174)                 (10)

  Cash and Cash Equivalents, Beginning of Period                        6,382                8,052
                                                                 -------------------- -------------------

  Cash and Cash Equivalents, End of Period                           $  6,208             $  8,042
                                                                 ==================== ===================
  Additional Cash Flows and Supplementary Information
       Interest paid                                                   $5,051             $  3,809
       Income tax paid                                                    696                  666
       Investment securities held to maturity transferred to
         available for sale                                                                  1,934
</TABLE>
  See notes to consolidated condensed financial statements.
<PAGE>
                              RIVER VALLEY BANCORP
         Notes to Unaudited Consolidated Condensed Financial Statements


River Valley Bancorp (the  "Corporation")  is a unitary savings and loan holding
company whose  activities  are  primarily  limited to holding the stock of River
Valley  Financial  Bank  ("River  Valley" or the  "Bank").  The Bank  conducts a
general banking  business in  southeastern  Indiana which consists of attracting
deposits from the general public and applying those funds to the  origination of
loans  for  consumer,   residential  and  commercial  purposes.  River  Valley's
profitability  is significantly  dependent on net interest income,  which is the
difference between interest income generated from interest-earning  assets (i.e.
loans  and  investments)  and the  interest  expense  paid  on  interest-bearing
liabilities (i.e.  customer deposits and borrowed funds). Net interest income is
affected by the relative amount of interest-earning  assets and interest-bearing
liabilities and the interest  received or paid on these  balances.  The level of
interest rates paid or received by the Bank can be significantly influenced by a
number of competitive  factors,  such as governmental  monetary policy, that are
outside of management's control.

Note 1: Basis of Presentation

The accompanying  unaudited  consolidated  condensed  financial  statements were
prepared in accordance with instructions for Form 10-QSB and, therefore,  do not
include  information  or  footnotes  necessary  for a complete  presentation  of
financial  position,  results of operations  and cash flows in  conformity  with
generally  accepted   accounting   principles.   Accordingly,   these  financial
statements  should  be read  in  conjunction  with  the  consolidated  financial
statements and notes thereto of the Corporation included in the Annual Report on
Form 10-KSB for the year ended  December  31, 2000.  However,  in the opinion of
management, all adjustments (consisting of only normal recurring accruals) which
are necessary for a fair  presentation  of the  financial  statements  have been
included.  The results of operations for the nine and three-month  periods ended
September 30, 2001, are not  necessarily  indicative of the results which may be
expected for the entire year.

Note 2: Principles of Consolidation

The consolidated  financial  statements  include the accounts of the Corporation
and its subsidiary,  the Bank and the Bank's  subsidiary,  Madison First Service
Corporation  ("First  Service").   All  significant  intercompany  balances  and
transactions  have been eliminated in the  accompanying  consolidated  financial
statements.

Note 3: Earnings Per Share

Earnings per share have been  computed  based upon the weighted  average  common
shares  outstanding.  Unearned  Employee  Stock  Ownership Plan shares have been
excluded from the computation of average common shares outstanding.
<TABLE>
<CAPTION>
                                              Nine Months Ended                              Nine Months Ended
                                             September 30, 2001                             September 30, 2000
                                             ------------------                             ------------------
                                                  Weighted                                        Weighted         Per
                                                   Average           Per                           Average        Share
                                      Income       Shares        Share Amount       Income          Shares        Amount
                                      ------       ------        ------------       ------          ------        ------
                                                            (In Thousands, Except Share Amounts)
     Basic earnings per share
       Income available to
<S>                                     <C>          <C>             <C>                 <C>        <C>              <C>
       common shareholders              $ 1,404      798,923         $ 1.76              $1,199     862,016          $1.39
                                                                 ===========                                    ===========

     Effect of dilutive RRP
     awards and stock options                         16,701
                                   ------------- ---------------                ---------------- --------------
     Diluted earnings per share
     Income available to  common
     shareholders and assumed
     conversions                        $ 1,404      815,624         $ 1.72              $1,199     862,016          $1.39
                                   ============= =============== ===========    ================ ============== ===========
</TABLE>

<PAGE>
<TABLE>
<CAPTION>
                                             Three Months Ended                             Three Months Ended
                                             September 30, 2001                             September 30, 2000
                                             ------------------                             ------------------
                                                  Weighted                                         Weighted        Per
                                                   Average           Per                            Average        Share
                                      Income       Shares        Share Amount       Income          Shares        Amount
                                      ------       ------        ------------       ------          ------        ------
                                                            (In Thousands, Except Share Amounts)
     Basic earnings per share
       Income available to
<S>                                       <C>        <C>              <C>                  <C>      <C>              <C>
       common shareholders                $ 530      778,635          $ .68                $412     854,139          $ .48
                                                                 ===========                                    ===========

     Effect of dilutive RRP
     awards and stock options                         24,116
                                   ------------- ---------------                ---------------- --------------
     Diluted earnings per share
     Income available to  common
     shareholders and assumed
     conversions                          $ 530      802,751          $ .66                $412     854,139          $ .48
                                   ============= =============== ===========    ================ ============== ===========
</TABLE>



Note 4: Reclassifications

Certain  reclassifications  have  been made to the 2000  consolidated  financial
statements to conform to the September 30, 2001 presentation.


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

Forward Looking Statements

This Quarterly Report on Form 10-QSB ("Form 10-QSB")  contains  statements which
constitute  forward  looking  statements  within  the  meaning  of  the  Private
Securities Litigation Reform Act of 1995. These statements appear in a number of
places in this Form 10-QSB and include statements regarding the intent,  belief,
outlook, estimate or expectations of the Corporation (as defined in the notes to
the consolidated condensed financial statements),  its directors or its officers
primarily with respect to future events and the future financial  performance of
the Corporation. Readers of this Form 10-QSB are cautioned that any such forward
looking  statements  are not  guarantees  of future  events or  performance  and
involve risks and  uncertainties,  and that actual results may differ materially
from those in the forward looking statements as a result of various factors. The
accompanying  information  contained  in this Form 10-QSB  identifies  important
factors that could cause such  differences.  These  factors  include  changes in
interest   rates;   loss  of  deposits  and  loan  demand  to  other   financial
institutions;  substantial changes in financial markets;  changes in real estate
values and the real estate market; or regulatory changes.


Financial Condition

At September 30, 2001,  the  Corporation's  assets totaled  $186.1  million,  an
increase of $24.0  million,  or 14.8 % from  December 31, 2000.  The increase in
assets  resulted  primarily  from an  increase in net loans  receivable.  Liquid
assets (i.e.,  cash and interest  earning  deposits)  decreased by $174,000 from
December 31, 2000, to a total of $6.2 million at September 30, 2001.  Investment
securities  increased by $3.7 million,  or 51.1 % to a total of $11.0 million at
September 30, 2001.  Net loans  receivable  were $158.9 million at September 30,
2001,  an  increase  of $17.9  million,  or 12.7 % from the  $141.0  million  at
December 31,  2000.  These  increases  were funded by an increase in deposits of
$16.2 million.

The  Corporation's  consolidated  allowance for loan losses totaled $1.7 million
and $1.9 million on December  31, 2000 and  September  30,  2001,  respectively,
which  represented  1.2 % of total  loans at both  dates.  Non-performing  loans
(defined  as loans  delinquent  greater  than 90 days and  loans on  non-accrual
status)  totaled  $621,000 and $641,000 at December 31, 2000 and  September  30,
2001,  respectively.  Although  management  believes that its allowance for loan
losses at September  31, 2001 was adequate  based upon the  available  facts and
circumstances,  there can be no assurance  that additions to such allowance will
not  be  necessary  in  future  periods,   which  could  negatively  affect  the
Corporation's results of operations.

Deposits  totaled  $146.5  million at September  30, 2001,  an increase of $16.2
million,  or 12.5 %, compared to total deposits at December 31, 2000. The growth
for the  nine-month  period  resulted  from  the  marketing  and  interest  rate
strategies.

Advances  from the Federal Home Loan Bank totaled  $13.0 million at December 31,
2000 and $19.0  million on  September  30, 2001.  These  advances had a positive
effect on the bottom line during the first,  second and third  quarters due to a
decline in their  interest  rates.  The average  cost of Federal  Home Loan Bank
advances at  September  30,  2001 was 5.31 %, down from 6.35 % at  December  31,
2000.

Stockholders'  equity  totaled  $17.5 at  September  30,  2001,  an  increase of
$315,000,  or 1.8 %, from $17.2  million at  December  31,  2000.  The  increase
resulted  primarily from the Corporation's net income,  offset by cash dividends
and stock repurchases.

The Bank is required to maintain minimum  regulatory capital pursuant to federal
regulations.  At September 30, 2001, the Bank's regulatory  capital exceeded all
applicable regulatory capital requirements.


Comparison of Operating Results for the Nine Months Ended September 30, 2001 and
2000

General

The  Corporation's  net income for the nine  months  ended  September  30,  2001
totaled $1.4 million, an increase of $205,000,  or 17.1 %, from the $1.2 million
reported for the period ended  September 30, 2000. The increase in income in the
2001 period was primarily  attributable  to a increase in net interest income of
$627,000,  which was  partially  offset by an increase in the provision for loan
losses of $178,000 and an increase in other expenses of $343,000.

Net Interest Income

Total interest  income for the nine months ended  September 30, 2001 amounted to
$9.8 million, an increase of $1.7 million, or 21.5 %, over the comparable period
in 2000,  reflecting  the  effects of an  increase  in average  interest-earning
assets outstanding.

Interest  expense on deposits  increased by  $733,000,  or 19.9 %, to a total of
$4.4 million for the nine months ended  September 30, 2001,  due primarily to an
increase in the average balance of deposits outstanding  year-to-year.  Interest
expense on borrowings  totaled  $678,000 for the nine months ended September 30,
2001, an increase of $373,000 from the  comparable  period in 2000. The increase
resulted primarily from an increase in average borrowings year-to-year.

As a result of the foregoing  changes in interest  income and interest  expense,
net interest income increased by $627,000,  or 15.4 %, for the nine months ended
September 30, 2001, as compared to the comparable  period in 2000. This increase
was due to the increase in volume of average  interest  earning assets offset in
part by the increase in average interest bearing liabilities.

Provision for Losses on Loans

A  provision  for  losses  on loans is  charged  to  income  to bring  the total
allowance for loan losses to a level considered  appropriate by management based
upon  historical  experience,  the volume and type of lending  conducted  by the
Bank, the status of past due principal and interest  payment,  general  economic
conditions,  particularly as such  conditions  relate to the Bank's market area,
and other factors related to the collectibility of the Bank's loan portfolio. As
a result of such analysis,  management  recorded a $310,000 provision for losses
on loans for the nine months ended September 30, 2001,  compared to the $132,000
amount recorded in the 2000 period.  The 2001 provision amount was predicated on
the  increase in the balance of the loan  portfolio,  coupled  with the level of
delinquent loans year-to-year.  While management believes that the allowance for
losses on loans is adequate at  September  30,  2001,  based upon the  available
facts and circumstances,  there can be no assurance that the loan loss allowance
will be adequate to cover losses on non-performing assets in the future.

Other Income

Other  income  increased  by  $273,000,  or 33.3 %, during the nine months ended
September 30, 2001, as compared to the same period in 2000. The increase was due
primarily to the fact that the gain on sale of loans increased by $344,000.  The
Bank sold loans of  approximately  $23.2  million  during the nine months  ended
September  30,  2001.  The  increase  is the  result  of  rates  going  down and
management's plan for River Valley Financial Bank to be the best local financial
institution to provide fixed rate Freddie Mac loans.

Other Expense

Other  expense  increased  by  $343,000,  or 12.0 %, during the six months ended
September 30, 2001, as compared to the same period in 2000. The increase was due
primarily to the increase in loan  volume/administrative  expense,  both balance
sheet and off-balance sheet volume, and general expense increases due to growth.

Income Taxes

The  provision  for income  taxes  totaled  $881,000  for the nine months  ended
September 30, 2001, an increase of $174,000,  or 24.6 %, as compared to the same
period in 2000.  The  effective  tax rates  amounted to 38.6 % and 37.1% for the
nine months ended September 30, 2001 and 2000, respectively.

Comparison  of Operating  Results for the Three Months Ended  September 30, 2001
and 2000

General

The  Corporation's  net income for the three  months  ended  September  30, 2001
totaled $530,000,  an increase of $118,000,  or 28.6 %, from the $412,000 of net
income reported in the comparable  2000 period.  The increase in earnings in the
2001 period was primarily  attributable to an increase in net interest income of
$264,000 and an increase in other income of $126,000.

Net Interest Income

Total interest  income for the three months ended September 30, 2001 amounted to
$3.3 million, an increase of $451,000, or 15.7 %, from the comparable quarter in
2000, reflecting the effects of an increase in average  interest-earning  assets
outstanding, coupled with an increase in the yield year-to-year. Interest income
on loans totaled $3.1 million for the three months ended  September 30, 2001, an
increase of $412,000, or 15.2 % , from the comparable 2000 quarter.

Interest expense on deposits increased by $104,000, or 7.9 %, to a total of $1.4
million for the quarter ended  September 30, 2001,  due primarily to an increase
in the average balance of deposits  outstanding.  Interest expense on borrowings
totaled  $231,000 for the three months ended  September 30, 2001, an increase of
$83,000  over the  comparable  quarter in 2000.  The increase  resulted  from an
increase in average borrowings outstanding from year-to-year.

As a result of the foregoing  changes in interest  income and interest  expense,
net interest income increased by $264,000, or 18.7 %, for the three months ended
September 30, 2001,  as compared to the same quarter in 2000.  This increase was
due to the  increase in volume of average  earning  assets  offset in part by an
increase in average interest bearing liabilities.

Provision for Losses on Loans

A  provision  for  losses on loans is  charged  to  earnings  to bring the total
allowance for loan losses to a level considered  appropriate by management based
upon  historical  experience,  the volume and type of lending  conducted  by the
Bank, the status of past due principal and interest  payments,  general economic
conditions,  particularly as such  conditions  relate to the Bank's market area,
and other factors related to the collectibility of the Bank's loan portfolio. As
a result of such analysis,  management  recorded a $110,000 provision for losses
on loan for the three months ended  September 30, 2001,  compared to the $75,000
recorded in the 2000 period.  While  management  believes that the allowance for
losses on loans is adequate at  September  30,  2001,  based upon the  available
facts and circumstances,  there can be no assurance that the loan loss allowance
will be adequate to cover losses on non-performing assets in the future.

Other Income

Other  income  increased  by  $126,000,  or 42.7 %, for the three  months  ended
September 30, 2001,  as compared to the same period in 2000,  due primarily to a
$151,000   increase  in  gains  on  sale  of  loans.  The  Bank  sold  loans  of
approximately $9.5 million during the third quarter of 2001.

Other Expense

Other expenses  increased by $127,000,  or 12.7 %, during the three months ended
September  30, 2001,  compared to the same period in 2000.  The increase was due
primarily to the increase in loan  volume/administrative  expense,  both balance
sheet and off-balance sheet volume, and general expense increases due to growth.

Income Taxes

The  provision  for income  taxes  totaled  $334,000  for the three months ended
September 30, 2001, an increase of $110,000,  or 49.1 %, as compared to the same
period in 2000. This increase resulted  primarily from an increase in net income
before income taxes of $228,000,  or 35.8 %. The effective tax rates amounted to
38.7 % and 35.2 % for the  three  months  ended  September  30,  2001 and  2000,
respectively.

Impact of New Accounting Standards

Accounting  for  a  Business  Combination.  Statement  of  Financial  Accounting
Standards  ("SFAS") No. 141 requires  that all business  combinations  should be
accounted for using the purchase method of accounting; use of the pooling method
is prohibited.  A business combination occurs when an enterprise acquires all or
a portion of the net assets that  constitutes a business or the equity interests
of one or more other  enterprises  and obtains  control over the  enterprise  or
enterprises.  All two-party and  multi-party  business  combinations,  including
"roll-up"  and  "put-together"  transactions  are  included in the scope of this
Statement.

This Statement requires that goodwill be initially recognized as an asset in the
financial statement and measured as the excess of the cost of an acquired entity
over  the net of the  amounts  assigned  to  identifiable  assets  acquired  and
liabilities  assumed. In addition,  SFAS No. 141 requires all other intangibles,
such as core deposit intangibles for a financial institution, to be identified.

The  provisions of Statement No. 141 are effective for any business  combination
that is initiated after June 30, 2001.

Accounting for Goodwill.  Under the provisions of SFAS No. 142,  goodwill should
not be  amortized  but should be tested for  impairment  at the  reporting  unit
level.  An impairment  test of goodwill should be done on an annual basis unless
events or circumstances  indicate impairment has occurred in the interim period.
The annual  impairment test can be performed at any time during the year as long
as the measurement date is used consistently from year to year.

Impairment testing is a two step process.  The first step is a comparison of the
fair value of a reporting unit to its carrying amount including goodwill. If the
fair value of the reporting unit is greater than its carrying value, goodwill is
not impaired and no further work is required. Companies should perform the first
step of the  impairment  test on all  goodwill  within six  months of  initially
applying  the  Statement.  If the fair value is less,  the second step should be
performed.  The second  step is to compare  the fair  value of  goodwill  to its
carrying amount.  If the fair value of goodwill is less than its carrying value,
then the goodwill is deemed impaired and a loss recognized.  Any impairment loss
recognized as a result of completing the transitional  impairment test should be
treated as a change in accounting  principle and recognized in the first interim
period financial statements.

The  provisions  of  Statement  No.  142 would be  effective  for  fiscal  years
beginning  after  December  15, 2001.  Early  adoption  would be  permitted  for
companies with a fiscal year beginning  after March 15, 2001,  provided that the
first quarter  financial  statements  have not been  previously  issued.  In all
cases,  the  Statement  must be adopted as of the  beginning  of a fiscal  year.
Goodwill and intangible  assets  acquired in a transaction  completed after June
30, 2001, but before this Statement is initially applied, would be accounted for
in  accordance  with the  amortization  and  nonamortization  provisions  of the
Statement.  The useful economic life of previously  recognized intangible assets
should be reassessed upon adoption of the Statement,  and remaining amortization
periods  should be adjusted  accordingly.  Intangible  assets  deemed to have an
indefinite life would no longer be amortized.

Since the Company has no significant legacy goodwill and is not currently in the
process of acquiring another company, the adoption of SFAS 141 and 142 will have
no material impact on the Company's financial statements.

Other

The  Securities  and  Exchange  Commission  maintains  a Web site that  contains
reports,   proxy  information   statements,   and  other  information  regarding
registrants  that  file  electronically  with  the  Commission,   including  the
Corporation. The address is http://www.sec.gov.



<PAGE>


PART II.   OTHER INFORMATION

Item 1.       Legal Proceedings.

              None.

Item 2.       Changes in Securities and Use of Proceeds.

              None.

Item 3.       Defaults Upon Senior Securities.

              None.

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

              None.

Item 5.       Other Information.

              None.

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

               (a)  No reports on Form 8-K were filed  during the quarter  ended
                    September 30, 2001.





<PAGE>

                                   Signatures

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

                                  RIVER VALLEY BANCORP

Date: November 14, 2001           By: /s/ Matthew P. Forrester
                                      -------------------------
                                      Matthew P. Forrester
                                      President and Chief Executive Officer

Date: November 14, 2001           By: /s/ Larry C. Fouse
                                      -------------------------
                                      Larry C. Fouse
                                      Vice President of Finance