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


                                   FORM 10-QSB

(Mark One)

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

For the quarterly period ended              March 31, 2000
                               --------------------------------------------

                                       OR

[  ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from ____________ to _______________

Commission File Number 2-47541

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

             Indiana                                        35-1984567
-------------------------------               --------------------------------
(State or other jurisdiction of               (IRS Employer Identification No.)
incorporation or organization)

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

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

------------------------------------------------------------------------------
(Former  name,  former  address and former  fiscal year,  if changed  since last
report)


                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: May 8, 2000 - 921,972 common shares

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



                               Page 1 of 16 pages

<PAGE>


                              River Valley Bancorp

                                      INDEX

                                                                        Page

PART I  - FINANCIAL INFORMATION
Item 1.   Financial Statements

          Consolidated Statements of Financial Condition                  3

          Consolidated Statements of Earnings                             4

          Consolidated Statements of Comprehensive Income                 5

          Consolidated Statements of Cash Flows                           6

          Notes to Consolidated Financial Statements                      8

Item 2.   Management's Discussion and Analysis of
          Financial Condition and Results of
          Operations                                                     10


PART II -  OTHER INFORMATION

Item 1.    Legal Proceedings                                             15
Item 2.    Changes in Securities                                         15
Item 3.    Defaults Upon Senior Securities                               15
Item 4.    Submission of Matters to a Vote of Security Holders           15
Item 5.    Other Information                                             15
Item 6.    Exhibits and Reports on Form 8-K                              15

SIGNATURES                                                               16



















                                        2



<PAGE>


                              River Valley Bancorp
<TABLE>
<CAPTION>
                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                        (In thousands, except share data)

                                                                                          March 31,        December 31,
         ASSETS                                                                                2000                1999
<S>                                                                                            <C>                 <C>
Cash and due from banks                                                                    $  3,271            $  3,648
Federal funds sold                                                                            1,350               1,550
Interest-earning deposits in other financial institutions                                     4,740               2,854
                                                                                            -------             -------
         Cash and cash equivalents                                                            9,361               8,052

Investment securities designated as available for sale - at market                            2,173               4,230
Investment securities held to maturity - at amortized cost, approximate market
  value of $995 as of December 31, 1999                                                          -                1,000
Mortgage-backed securities designated as available for sale - at market                       1,975               2,071
Mortgage-backed and related securities held to maturity - at cost, approximate
  market value of $1,941 and $2,147 as of March 31, 2000 and December 31, 1999                1,934               2,138
Loans receivable - net                                                                      122,407             115,131
Office premises and equipment - at depreciated cost                                           1,930               1,980
Federal Home Loan Bank stock - at cost                                                          943                 943
Accrued interest receivable on loans                                                            971                 970
Accrued interest receivable on mortgage-backed and related securities                            24                  26
Accrued interest receivable on investments and interest-earning deposits                         55                  47
Goodwill, net of accumulated amortization                                                        42                  44
Cash surrender value of life insurance                                                          854                 854
Prepaid expenses and other assets                                                               209                 210
Prepaid federal income taxes                                                                    167                 359
Deferred tax asset                                                                              636                 640
                                                                                            -------             -------

         Total assets                                                                      $143,681            $138,695
                                                                                            =======             =======

         LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits                                                                                   $122,204            $114,251
Advances from the Federal Home Loan Bank                                                      3,000               6,000
Other borrowed money                                                                            850                 500
Advances by borrowers for taxes and insurance                                                    56                  36
Accrued interest payable                                                                        332                 330
Other liabilities                                                                               591                 641
Dividends payable                                                                                82                  71
                                                                                            -------             -------
         Total liabilities                                                                  127,115             121,829

Stockholders' equity
  Preferred stock - 2,000,000 shares without par value
    authorized; no shares issued                                                                 -                   -
  Common stock - 5,000,000 shares without par value authorized;
    1,190,250 shares issued at March 31, 2000 and December 31, 1999                              -                   -
  Additional paid-in capital                                                                 11,314              11,314
  Retained earnings - substantially restricted                                                9,850               9,551
  Shares acquired by stock benefit plans                                                       (967)               (967)
  Less 268,278 and 219,753 treasury shares - at cost                                         (3,583)             (2,976)
  Accumulated comprehensive loss, unrealized losses on securities
    designated as available for sale, net of related tax effects                                (48)                (56)
                                                                                            -------             -------
         Total stockholders' equity                                                          16,566              16,866
                                                                                            -------             -------

         Total liabilities and stockholders' equity                                        $143,681            $138,695
                                                                                            =======             =======

</TABLE>


                                        3


<PAGE>


                              River Valley Bancorp
<TABLE>
<CAPTION>

                       CONSOLIDATED STATEMENTS OF EARNINGS

                      For the three months ended March 31,
                        (In thousands, except share data)

                                                                                             2000                  1999
<S>                                                                                          <C>                    <C>
Interest income
  Loans                                                                                    $2,316                $2,206
  Mortgage-backed and related securities                                                       65                    83
  Investment securities                                                                        60                    39
  Interest-earning deposits and other                                                          99                   117
                                                                                            -----                 -----
         Total interest income                                                              2,540                 2,445

Interest expense
  Deposits                                                                                  1,159                 1,184
  Borrowings                                                                                   83                     4
                                                                                            -----                 -----
         Total interest expense                                                             1,242                 1,188
                                                                                            -----                 -----

         Net interest income                                                                1,298                 1,257

Provision for losses on loans                                                                  13                    60
                                                                                            -----                 -----

         Net interest income after provision for losses on loans                            1,285                 1,197

Other income
  Gain on sale of loans                                                                        12                    16
  Gain on sale of office premises                                                              42                    -
  Service fees, charges and other operating                                                   223                   189
                                                                                            -----                 -----
         Total other income                                                                   277                   205

General, administrative and other expense
  Employee compensation and benefits                                                          514                   533
  Occupancy and equipment                                                                     134                   132
  Amortization of goodwill                                                                      2                     2
  Data processing                                                                              26                    25
  Other operating                                                                             257                   302
                                                                                            -----                 -----
         Total general, administrative and other expense                                      933                   994
                                                                                            -----                 -----

         Earnings before income taxes                                                         629                   408

Income taxes
  Current                                                                                     248                   152
  Deferred                                                                                     -                     10
                                                                                            -----                 -----
         Total income taxes                                                                   248                   162
                                                                                            -----                 -----

         NET EARNINGS                                                                      $  381                $  246
                                                                                            =====                 =====

         EARNINGS PER SHARE
           Basic                                                                             $.44                  $.22
                                                                                              ===                   ===

           Diluted                                                                           $.44                  $.22
                                                                                              ===                   ===
</TABLE>





                                        4


<PAGE>


                              River Valley Bancorp
<TABLE>
<CAPTION>

                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

                      For the three months ended March 31,
                                 (In thousands)

                                                                                                 2000              1999
<S>                                                                                               <C>               <C>
Net earnings                                                                                     $381              $246

Other comprehensive income, net of tax:
  Unrealized holding gains (losses) during the period, net of tax of
    $4 and $(4) during 2000 and 1999, respectively                                                  8                (7)
                                                                                                  ---               ---

Comprehensive income                                                                             $389              $239
                                                                                                  ===               ===

Accumulated comprehensive loss                                                                   $(48)             $(20)
                                                                                                  ===               ===

</TABLE>


































                                        5



<PAGE>


                              River Valley Bancorp
<TABLE>
<CAPTION>

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                      For the three months ended March 31,
                                 (In thousands)

                                                                                                 2000              1999
<S>                                                                                             <C>                <C>
Cash flows from operating activities:
  Net earnings for the period                                                                 $   381           $   246
  Adjustments to reconcile net earnings to net cash provided
  by (used in) operating activities:
    Amortization of premiums  and discounts on investments and
      mortgage-backed securities - net                                                            (26)               (8)
    Loans originated for sale in the secondary market                                            (728)           (3,689)
    Proceeds from sale of loans in the secondary market                                           733             5,372
    Gain on sale of loans                                                                          (5)              (35)
    Amortization of deferred loan origination costs                                                26                18
    Provision for losses on loans                                                                  13                60
    Depreciation and amortization                                                                  59                58
    Gain on sale of office premises                                                               (42)               -
    Amortization of goodwill                                                                        2                 2
    Increase (decrease) in cash due to changes in:
      Accrued interest receivable on loans                                                         (1)               35
      Accrued interest receivable on mortgage-backed securities                                     2                 7
      Accrued interest receivable on investments and interest-earning deposits                     (8)              (33)
      Prepaid expenses and other assets                                                             1               123
      Accrued interest payable                                                                      2               (90)
      Other liabilities                                                                           (40)              108
      Income taxes
        Current                                                                                   193                67
        Deferred                                                                                   -                 10
                                                                                               ------            ------
         Net cash provided by operating activities                                                562             2,251

Cash flows provided by (used in) investing activities:
  Purchase of investment securities                                                            (1,900)           (5,959)
  Proceeds from maturity of investment securities                                               5,000             1,000
  Principal repayments on mortgage-backed securities                                              293               511
  Loan principal repayments                                                                    11,628            12,074
  Loan disbursements                                                                          (18,943)          (12,431)
  Proceeds from sale of real estate acquired through foreclosure                                   -                 82
  Purchase of office equipment                                                                    (23)             (196)
  Proceeds from sale of office premises                                                            56                -
  Increase in cash surrender value of life insurance                                               -                 (9)
                                                                                               ------            ------
         Net cash used in investing activities                                                 (3,889)           (4,928)
                                                                                               ------            ------

         Net cash used in operating and investing activities
           (subtotal carried forward)                                                          (3,327)           (2,677)
                                                                                               ------            ------

</TABLE>




                                        6


<PAGE>


                              River Valley Bancorp
<TABLE>
<CAPTION>

                CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

                      For the three months ended March 31,
                                 (In thousands)

                                                                                                 2000              1999
<S>                                                                                              <C>               <C>
         Net cash used in operating and investing activities
           (subtotal brought forward)                                                         $(3,327)          $(2,677)

Cash flows provided by (used in) financing activities:
  Net increase in deposit accounts                                                              7,954               307
  Repayment of Federal Home Loan Bank advances                                                 (3,000)               -
  Proceeds from other borrowed money                                                              350               671
  Advances by borrowers for taxes and insurance                                                    20                25
  Dividends on common stock                                                                       (82)              (68)
  Purchase of shares                                                                             (606)             (570)
                                                                                               ------            ------
         Net cash provided by financing activities                                              4,636               365
                                                                                               ------            ------

Net increase (decrease) in cash and cash equivalents                                            1,309            (2,312)

Cash and cash equivalents at beginning of period                                                8,052            12,307
                                                                                               ------            ------

Cash and cash equivalents at end of period                                                    $ 9,361           $ 9,995
                                                                                               ======            ======


Supplemental disclosure of cash flow information:
 Cash paid during the year for:
    Federal income taxes                                                                      $    -            $    55
                                                                                               ======            ======

    Interest on deposits and borrowings                                                       $ 1,240           $ 1,278
                                                                                               ======            ======


Supplemental disclosure of noncash investing and financing activities:
  Unrealized gains (losses) on securities designated as available
    for sale, net of related tax effects                                                      $     8           $    (7)
                                                                                               ======            ======

  Recognition of mortgage servicing rights in accordance with
    SFAS No. 125                                                                              $     7           $    23
                                                                                               ======            ======
</TABLE>












                                        7



<PAGE>


                              River Valley Bancorp

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

            For the three month periods ended March 31, 2000 and 1999


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.

1.  Basis of Presentation

The accompanying  unaudited  consolidated  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-K for the
year ended  December  31,  1999.  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 three month period ended March 31, 2000,  are not
necessarily indicative of the results which may be expected for the entire year.

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.

3.  Effect of Recent Accounting Pronouncements

In June 1998,  the  Financial  Accounting  Standards  Board (the "FASB")  issued
Statement of Financial  Accounting  Standards ("SFAS") No. 133,  "Accounting for
Derivative  Instruments  and Hedging  Activities,"  which  requires  entities to
recognize  all  derivatives  in their  financial  statements as either assets or
liabilities  measured at fair value.  SFAS No. 133 also specifies new methods of
accounting for hedging transactions,  prescribes the items and transactions that
may be hedged,  and specifies  detailed  criteria to be met to qualify for hedge
accounting.





                                        8


<PAGE>


                              River Valley Bancorp

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

            For the three month periods ended March 31, 2000 and 1999


3.  Effect of Recent Accounting Pronouncements (continued)

The definition of a derivative  financial instrument is complex, but in general,
it is an instrument  with one or more  underlyings,  such as an interest rate or
foreign exchange rate, that is applied to a notional  amount,  such as an amount
of currency,  to determine the settlement  amount(s).  It generally  requires no
significant initial investment and can be settled net or by delivery of an asset
that is  readily  convertible  to cash.  SFAS No.  133  applies  to  derivatives
embedded in other contracts, unless the underlying of the embedded derivative is
clearly and closely related to the host contract.

SFAS No.  133,  as amended  by SFAS No.  137,  is  effective  for  fiscal  years
beginning  after June 15, 2000. On adoption,  entities are permitted to transfer
held-to-maturity  debt securities to the  available-for-sale or trading category
without  calling into  question  their intent to hold other debt  securities  to
maturity in the future.  SFAS No. 133 is not expected to have a material  impact
on the Corporation's financial statements.

4.  Earnings Per Share

Basic  earnings  per share is computed  based upon the  weighted-average  shares
outstanding during the period,  less shares in the ESOP that are unallocated and
not committed to be released.  Weighted-average common shares outstanding, which
gives effect to 60,876 and 71,730  unallocated ESOP shares at March 31, 2000 and
1999,  respectively,  totaled  870,903 and 1,098,216 for the three month periods
ended March 31, 2000 and 1999, respectively.

Diluted earnings per share is computed taking into  consideration  common shares
outstanding  and  dilutive  potential  common  shares  to be  issued  under  the
Corporation's   stock  option  plan.   Weighted-average   common  shares  deemed
outstanding for purposes of computing diluted earnings per share totaled 870,903
and  1,098,216  for the three  month  periods  ended  March  31,  2000 and 1999,
respectively.

There were no  incremental  shares  related  to the  assumed  exercise  of stock
options in the  computation of diluted  earnings per share for the periods ended
March 31, 2000 and 1999. Options to purchase 93,959 and 103,959 shares of common
stock with a weighted  average  price of $14.70 and $14.81 were  outstanding  at
March 31, 2000 and 1999, respectively, but were excluded from the computation of
common  share  equivalents  because  their share  prices were  greater  than the
average market price of the common shares.

5.  Reclassifications

Certain  reclassifications  have  been made to the 1999  consolidated  financial
statements to conform to the March 31, 2000 presentation.





                                        9



<PAGE>


                              River Valley Bancorp

                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS

            For the three month periods ended March 31, 2000 and 1999


Forward-Looking Statements

In addition to historical information contained herein, the following discussion
contains  forward-looking  statements  that  involve  risks  and  uncertainties.
Economic  circumstances,  the  Corporation's  operations  and the  Corporation's
actual  results  could  differ   significantly   from  those  discussed  in  the
forward-looking  statements.  Some of the factors that could cause or contribute
to such differences are discussed herein but also include changes in the economy
and interest rates in the nation and the Corporation's market area generally.

Some of the  forward-looking  statements  included  herein  are  the  statements
regarding management's determination of the amount and adequacy of the allowance
for losses on loans and the effect of certain recent accounting pronouncements.


Discussion  of Financial  Condition  Changes from December 31, 1999 to March 31,
2000

At March 31, 2000, the Corporation's consolidated assets totaled $143.7 million,
an increase of $5.0  million,  or 3.6%,  over the December  31, 1999 total.  The
increase  in assets  resulted  primarily  from an  increase  in deposits of $8.0
million and a $350,000  increase in other borrowed  money,  which were partially
offset by a decrease in advances from the Federal Home Loan Bank of $3.0 million
and a decrease in stockholders' equity of $300,000.

Liquid assets (i.e.,  cash,  federal funds sold and  interest-earning  deposits)
increased  by $1.3 million  from  December  31, 1999 levels,  to a total of $9.4
million at March 31, 2000.  Investment and mortgage-backed  securities decreased
by $3.4  million,  or 35.6%,  to a total of $6.1 million at March 31, 2000,  due
primarily to maturities of short-term  investments of $5.0 million and principal
repayments on mortgage-backed  and related securities  totaling $293,000,  which
were partially offset by purchases of investment securities of $1.9 million.

Loans  receivable  totaled $122.4 million at March 31, 2000, an increase of $7.3
million,  or 6.3%,  over the $115.1  million  total at December  31,  1999.  The
increase resulted  primarily from loan originations of $19.7 million,  which was
partially offset by principal  repayments during the period of $11.6 million and
sales of $728,000.  Loan origination  volume during the three months ended March
31, 2000, exceeded that of the same quarter in 1999 by $3.6 million, or 22.0%.

The Corporation's consolidated allowance for loan losses totaled $1.5 million at
both March 31, 2000 and December 31, 1999,  which  represented  1.2% and 1.3% of
total loans at those  respective  dates.  Nonperforming  loans (defined as loans
delinquent greater than 90 days and loans on nonaccrual status) totaled $636,000
and $857,000 at March 31, 2000 and December  31,  1999,  respectively.  Although
management  believes that its  allowance for loan losses at March 31, 2000,  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.



                                       10


<PAGE>


                              River Valley Bancorp

                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                 CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

            For the three month periods ended March 31, 2000 and 1999


Discussion  of Financial  Condition  Changes from December 31, 1999 to March 31,
2000 (continued)

Deposits  totaled $122.2 million at March 31, 2000, an increase of $8.0 million,
or 7.0%,  compared to the total at December 31, 1999. The growth in deposits was
attributable to the Bank's  participation in the State of Indiana's  "Treasurers
Agricultural  Loan  Program",   which  provided  for  a  $3.5  million  one-year
certificate of deposit, which was used to fund a corresponding agricultural loan
at a spread to the Bank of 2.50%.  The remaining  $4.5 million of deposit growth
resulted  from  managements  continuing  efforts to  increase  deposits  through
marketing and interest-rate pricing strategies.

Advances from the Federal Home Loan Bank totaled $3.0 million at March 31, 2000,
a $3.0 million, or 50.0%, decrease from the balance at December 31, 1999. During
the current  quarter,  management  elected to repay advances using proceeds from
the growth in deposits and maturities of investment securities.

Stockholders'  equity  totaled  $16.6  million at March 31,  2000, a decrease of
$300,000,  or 1.8%,  from the $16.9  million  total at December  31,  1999.  The
decrease resulted  primarily from the Corporation's  repurchase of 48,525 shares
of its stock for treasury  totaling  $606,000,  and the declaration of dividends
totaling  $82,000.  These  decreases  were  partially  offset by current  period
earnings of $381,000,  and an $8,000 decrease in unrealized losses on securities
designated as available for sale.

The Bank is required to maintain minimum  regulatory capital pursuant to federal
regulations.  At March 31,  2000,  the Bank's  regulatory  capital  exceeded all
applicable regulatory capital requirements.


Comparison of Results of Operations  for the Three Month Periods Ended March 31,
2000 and 1999

General

The  Corporation's  net  earnings  for the three  months  ended March 31,  2000,
totaled  $381,000,  an increase of $135,000,  or 54.9%, from the $246,000 of net
earnings reported in the comparable 1999 period. The increase in earnings in the
2000 period was primarily  attributable to an increase in net interest income of
$41,000, an increase in other income of $72,000, a decrease in the provision for
losses on loans of $47,000 and a decrease in general,  administrative  and other
expense of $61,000,  which were partially offset by an increase in the provision
for income taxes of $86,000.








                                       11


<PAGE>


                              River Valley Bancorp

                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                 CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

            For the three month periods ended March 31, 2000 and 1999

Comparison of Results of Operations  for the Three Month Periods Ended March 31,
2000 and 1999 (continued)

Net Interest Income

Total interest income for the three months ended March 31, 2000 amounted to $2.5
million,  an increase of $95,000,  or 3.9%, over the comparable quarter in 1999,
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 and  mortgage-backed  securities  totaled  $2.4  million  for the three
months  ended  March  31,  2000,  an  increase  of  $92,000,  or 4.0%,  over the
comparable 1999 quarter. The increase resulted primarily from a $5.1 million, or
4.3%, increase in the average balance outstanding year-to-year.  Interest income
on investments and  interest-earning  deposits increased by $3,000, or 1.9%, due
to an increase in the average  yields on such  investments,  which was partially
offset by a $2.3  million  decline in the average  balance  outstanding  year to
year.

Interest expense on deposits  decreased by $25,000,  or 2.1%, to a total of $1.2
million for the quarter ended March 31, 2000, due primarily to a decrease in the
average cost of deposits of approximately  10 basis points,  to 3.90% during the
current  quarter,  partially  offset by an increase  in the  average  balance of
deposits  outstanding.  Interest  expense on borrowings  totaled $83,000 for the
three months ended March 31, 2000, an increase of $79,000,  over the  comparable
quarter in 1999. The increase resulted primarily from a significant  increase in
average borrowings outstanding year to year.

As a result of the foregoing  changes in interest  income and interest  expense,
net interest  income  increased by $41,000,  or 3.3%, for the three months ended
March 31, 2000, as compared to the comparable quarter in 1999. The interest rate
spread  amounted to  approximately  3.67% for the three  months  ended March 31,
2000,  compared to 3.55% for the 1999  quarter,  while the net  interest  margin
increased to 3.93% during the 2000 quarter, from 3.88% during the 1999 quarter.

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 $13,000 provision for losses on
loans for the three months ended March 31, 2000,  compared to the $60,000 amount
recorded in the 1999 period.  The current period  provision was predicated  upon
the  growth  in the loan  portfolio,  coupled  with a  decline  in the  level of
nonperforming  loans  during the quarter.  While  management  believes  that the
allowance  for losses on loans is  adequate  at March 31,  2000,  based upon the
available facts and circumstances,  there can be no assurance that the loan loss
allowance  will be  adequate  to cover  losses  on  nonperforming  assets in the
future.



                                       12


<PAGE>


                              River Valley Bancorp

                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                 CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

            For the three month periods ended March 31, 2000 and 1999


Comparison of Results of Operations  for the Three Month Periods Ended March 31,
2000 and 1999 (continued)

Other Income

Other income  increased by $72,000,  or 35.1%,  for the three months ended March
31, 2000, as compared to the same period in 1999, due primarily to a $34,000, or
18.0%,  increase  in service  fees,  charges  and other  operating  income and a
$42,000 gain on sale of office premises.  The increase in service fees,  charges
and other operating income was primarily due to the Corporation's overall growth
in the volume of deposits  year to year.  The sale of office  premises  resulted
from the Bank's  planned  divestiture  of a real estate  property  which was not
utilized in recent operations.

General, Administrative and Other Expense

General,  administrative and other expense decreased by $61,000, or 6.1%, during
the three months ended March 31, 2000, compared to the same period in 1999. This
decrease  resulted  primarily  from a $19,000,  or 3.6%,  decrease  in  employee
compensation and benefits and a $45,000,  or 14.9%,  decrease in other operating
expense. The decrease in employee compensation and benefits reflects the effects
of the managerial  restructuring  effected during 1999, coupled with an increase
in deferred loan origination costs resulting from the increased loan volume year
to  year.  The  decrease  in  other  operating  expense  was  due  primarily  to
nonrecurring  consulting  costs  recorded in the 1999 quarter,  coupled with the
effects of  management's  efforts to control  operating costs during the current
quarter.

Income Taxes

The provision for income taxes totaled $248,000 for the three months ended March
31, 2000,  an increase of $86,000,  or 53.1%,  as compared to the same period in
1999. This increase  resulted  primarily from an increase in net earnings before
taxes of $221,000, or 54.2%. The effective tax rates amounted to 39.4% and 39.7%
for the three months ended March 31, 2000 and 1999, respectively.


Year 2000 Compliance Matters

As with all providers of financial  services,  the Bank's operations are heavily
dependent  on  information  technology  systems.  During the three  year  period
leading up to  January  1,  2000,  the Bank  addressed  the  potential  problems
associated with the  possibility  that the computers that control or operate the
Bank's  information  technology  system  and  infrastructure  may not have  been
programmed to read four-digit date codes and, upon arrival of the year 2000, may
have  recognized  the two-digit code "00" as the year 1900,  causing  systems to
fail to function or to generate erroneous data.


                                       13


<PAGE>


                              River Valley Bancorp

                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                 CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

            For the three month periods ended March 31, 2000 and 1999


Year 2000 Compliance Matters (continued)

The Bank's core data processing  relative to customer loan and deposit accounts,
as well as the general ledger, is performed  in-house through use of a purchased
software  product.  Management  had been advised,  and certain  testing had been
performed to verify,  that the system would continue to function upon arrival of
the year 2000. The Bank  experienced  no  technology-related  difficulties  upon
arrival of January 1, 2000,  nor was there any  interruption  of services to its
customers.

Financial  institutions  may  experience  increases in problem  loans and credit
losses in the event that  borrowers  failed to prepare  properly  for Year 2000.
Because  the  Bank's  loan  portfolio  is  highly  diversified  with  regard  to
individual  borrowers and types of businesses and the Bank's primary market area
is not significantly  dependent upon one employer or industry, the Bank does not
expect,  and  to  date  has  not  experienced,   any  significant  or  prolonged
difficulties that will affect net earnings or cash flow.































                                       14


<PAGE>


                              River Valley Bancorp

                                     PART II

ITEM 1.  Legal Proceedings

         Not applicable

ITEM 2.  Changes in Securities and Use of Proceeds

         None

ITEM 3.  Defaults Upon Senior Securities

         Not applicable

ITEM 4.  Submission of Matters to a Vote of Security Holders

         On April 19,  2000,  the Annual  Meeting of the  Corporation's
         Stockholders  was held.  Two  directors  were elected to terms
         expiring in 2002 by the following votes:

             Robert W. Anger            For:  749,426       Withheld:  47,022
             Matthew P. Forrester       For:  787,775       Withheld:   8,673

ITEM 5.  Other Information

         None.

ITEM 6.  Exhibits and Reports on Form 8-K

         Reports on Form 8-K:     The Corporation filed no reports on Form 8-K
                                  during the quarter ended March 31, 2000.

         Exhibit 27:              Financial Data Schedule for the three month
                                  period ended March 31, 2000


















                                       15



<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.





Date:        May 12, 2000              By: /s/Matthew P. Forrester
       ---------------------------         -----------------------
                                           Matthew P. Forrester
                                           Chief Executive Officer and President



Date:        May 12, 2000              By: /s/Larry C. Fouse
       ---------------------------         -----------------
                                           Larry C. Fouse
                                           Vice President of Finance





































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