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 MARCH 31, 2003 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

As of May 1, 2003,  there were 813,820 shares of the  Registrant's  common stock
issued and outstanding.

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 Sheets                               3

           Consolidated Condensed Statements of Income                         4

           Consolidated Condensed Statements of Comprehensive Income           5

           Consolidated Condensed Statements 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                                            10

Item 3.  Controls and Procedures                                              13

PART II. OTHER INFORMATION

Item 1.  Legal Proceedings                                                    13
Item 2.  Changes in Securities                                                13
Item 3.  Defaults Upon Senior Securities                                      14
Item 4.  Submission of Matters to a Vote of Security Holders                  14
Item 5.  Other Information                                                    14
Item 6.  Exhibits and Reports on Form 8-K                                     14

SIGNATURES                                                                    15

CERTIFICATIONS                                                                16

Exhibit 99.1.  Certification                                                  18
<PAGE>
<TABLE>
<CAPTION>

PART I FINANCIAL INFORMATION
Item 1. Financial Statements

                                              RIVER VALLEY BANCORP
                                      Consolidated Condensed Balance Sheets



                                                                           March 31,           December 31,
                                                                             2003                 2002
                                                                    --------------------- --------------------
                                                                       (In Thousands, Except Share Amounts)
                                                                        (Unaudited)
<S>                                                       <C>                      <C>
  Assets
       Cash and due from banks                                           $    2,933             $   5,094
       Interest-bearing demand deposits                                      18,430                13,516
                                                                    --------------------- --------------------
           Cash and cash equivalents                                         21,363                18,610
       Investment securities available for sale                              32,081                28,174
       Loans held for sale                                                      972                 1,062
       Loans                                                                170,064               166,996
           Allowance for loan losses                                          2,147                 2,101
                                                                    --------------------- --------------------
                Net Loans                                                   167,917               164,895
       Premises and equipment                                                 5,763                 5,741
       Federal Home Loan Bank stock                                           2,000                 2,000
       Interest receivable                                                    1,516                 1,467
       Other assets                                                           2,257                 2,071
                                                                    --------------------- --------------------
                  Total assets                                           $  233,869             $ 224,020
                                                                    ===================== ====================

  Liabilities
       Deposits
           Noninterest-bearing                                           $   12,197             $  11,115
           Interest-bearing                                                 152,560               150,714
                                                                    --------------------- --------------------
                Total deposits                                              164,757               161,829
       Borrowings                                                            46,000                40,000
       Interest payable                                                         405                   459
       Other liabilities                                                      1,537                 1,099
                                                                    --------------------- --------------------
           Total liabilities                                                212,699               203,387
                                                                    --------------------- --------------------

  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 -  813,820 and 810,844 shares
       Additional paid-in capital                                             8,039                 7,957
       Retained earnings                                                     13,055                12,654
       Shares acquired by stock benefit plans                                  (297)                (339)
       Accumulated other comprehensive income                                   373                   361
                                                                    --------------------- --------------------
           Total shareholders' equity                                        21,170                20,633
                                                                    --------------------- --------------------

           Total liabilities and shareholders' equity                    $  233,869             $ 224,020
                                                                    ===================== ====================


  See notes to consolidated condensed financial statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                                      RIVER VALLEY BANCORP
                           Consolidated Condensed Statements of Income
                                          (Unaudited)


                                                                  Three Months Ended
                                                                       March 31
                                                         ------------------ -------------------
                                                               2003                2002
                                                         ------------------ -------------------
                                                          (In Thousands, Except Share Amounts)
<S>                                                          <C>                <C>
Interest Income
     Loans receivable                                        $  2,775           $  2,878
     Investment securities                                        238                209
     Interest-earning deposits and other                           69                 36
                                                         ------------------ -------------------
         Total interest income                                  3,082              3,123
                                                         ------------------ -------------------

Interest Expense
     Deposits                                                     885              1,077
     Borrowings                                                   436                314
                                                         ------------------ -------------------
         Total interest expense                                 1,321              1,391
                                                         ------------------ -------------------

Net Interest Income                                             1,761              1,732
     Provision for loan losses                                     90                130
                                                         ------------------ -------------------
Net Interest Income After Provision for Loan Losses             1,671              1,602
                                                         ------------------ -------------------

Other Income
     Service fees and charges                                     340                319
     Net gains on loan sales                                      492                 47
     Other income                                                  37                 48
                                                         ------------------ -------------------
         Total other income                                       869                414
                                                         ------------------ -------------------

Other Expenses
     Salaries and employee benefits                               657                562
     Net occupancy and equipment expenses                         187                200
     Data processing fees                                          20                 46
     Advertising                                                   73                 41
     Legal and professional fees                                   45                  7
     Other expenses                                               543                276
                                                         ------------------ -------------------
         Total other expenses                                   1,525              1,132
                                                         ------------------ -------------------

Income Before Income Tax                                        1,015                884
     Income tax expense                                           419                357
                                                         ------------------ -------------------

Net Income                                                   $    596           $    527
                                                         ================== ===================


Basic earnings per share                                      $   .76           $    .68
Diluted earnings per share                                        .72                .66
Dividends per share                                               .25                .15

See notes to consolidated condensed financial statements.

</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                             RIVER VALLEY BANCORP
                             Consolidated Condensed Statements of Comprehensive Income
                                                  (Unaudited)



                                                                                         Three Months Ended
                                                                                             March 31,
                                                                                ------------------ ------------------
                                                                                      2003               2002
                                                                                ------------------ ------------------
                                                                                           (In Thousands)

<S>                                                                                      <C>                <C>
  Net income                                                                             $ 596              $ 527
  Other comprehensive income, net of tax
        Unrealized gains (losses) on securities available for sale
            Unrealized holding gains (losses) arising during the
                period, net of tax benefit (expense) of $(8) and $61                        12               (119)
                                                                                ------------------ ------------------
   Comprehensive income                                                                  $ 608              $ 408
                                                                                ================== ==================


See notes to consolidated condensed financial statements.

</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                                                  RIVER VALLEY BANCORP
                                      Consolidated Condensed Statements of Cash Flows
                                                       (Unaudited)

                                                                                                 Three Months Ended
                                                                                                      March 31,
                                                                                         -------------------- -------------------
                                                                                               2003                2002
                                                                                         -------------------- -------------------
  Operating Activities                                                                               (In Thousands)

<S>                                                                                         <C>                    <C>
       Net income                                                                           $     596              $    527
       Adjustments to reconcile net income to net cash provided (used) by operating
             activities
         Provision for loan losses                                                                 90                   130
         Depreciation and amortization                                                            119                   127
         Loans originated for sale in the secondary market                                    (22,428)              (11,019)
         Proceeds from sale of loans in the secondary market                                   22,803                12,746
         Gain on sale of loans                                                                   (492)                  (47)
         Amortization of deferred loan origination cost                                            17                    37
         Amortization of expense related to stock benefit plans                                    78                    52
         Net change in:
             Interest receivable                                                                  (49)                  202
             Interest payable                                                                     (54)                 (134)
         Other adjustments                                                                        459                   215
                                                                                         -------------------- -------------------
                Net cash provided by operating activities                                       1,139                 2,836
                                                                                         -------------------- -------------------

  Investing Activities
       Purchases of securities available for sale                                              (4,007)               (3,995)
       Proceeds from maturities of securities available for sale                                   90                    51
       Net change in loans                                                                     (3,129)               (2,934)
       Purchases of premises and equipment                                                       (141)                 (185)
                                                                                         -------------------- -------------------
                Net cash used in investing activities                                          (7,187)               (7,063)
                                                                                         -------------------- -------------------

  Financing Activities
       Net change in
          Noninterest-bearing, interest-bearing demand and savings deposits                     2,804                 5,165
          Certificates of deposit                                                                 124                 2,945
       Proceeds from borrowings                                                                 7,000                25,000
       Repayment of borrowings                                                                 (1,000)              (26,650)
       Cash dividends                                                                            (194)                 (114)
       Proceeds from exercise of stock options`                                                    44                    14
       Advances by borrowers for taxes and insurance                                               23                    17
                                                                                         -------------------- -------------------
                Net cash provided by financing activities                                       8,801                 6,377
                                                                                         -------------------- -------------------

  Net Change in Cash and Cash Equivalents                                                       2,753                 2,150

  Cash and Cash Equivalents, Beginning of Period                                               18,610                 5,641
                                                                                         -------------------- -------------------

  Cash and Cash Equivalents, End of Period                                                  $  21,363              $  7,791
                                                                                         ==================== ===================

  Additional Cash Flows and Supplementary Information
       Interest paid                                                                        $   1,375              $  1,525
       Income tax paid                                                                             46                    63

  See notes to consolidated condensed financial statements.

</TABLE>
<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, 2002.  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,
2003,  are not  necessarily  indicative of the results which may be expected for
the entire year. The consolidated  condensed balance sheet of the Corporation as
of December  31, 2002 has been  derived  from the audited  consolidated  balance
sheet of the Corporation as of that date.


Note 2: Principles of Consolidation

The  consolidated  condensed  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>


                                            Three Months Ended                           Three Months Ended
                                              March 31, 2003                                March 31, 2002
                                              --------------                                --------------
                                                 Weighted        Per                          Weighted        Per
                                                  Average       Share                          Average       Share
                                     Income       Shares        Amount            Income        Shares       Amount
                                     ------      --------       ------            ------        -------      ------
                                                  (Dollar Amounts in Thousands, Except Share Amounts)

<S>                                    <C>         <C>             <C>             <C>          <C>          <C>
     Basic earnings per share
      Income available to common
      shareholders                     $ 596       789,233         $ .76           $ 527        772,650      $ .68
                                                              ===========                                  ===========

     Effect of dilutive RRP
     awards and stock options                       36,432                                       29,289
                                   ---------- ---------------                   --------- ----------------
     Diluted earnings per share
      Income available to
      common shareholders
      and assumed
      conversions                      $ 596       825,665         $ .72           $ 527        801,939      $ .66
                                   ========== =============== ===========       ========= ================ ===========
</TABLE>
<PAGE>

Note 4: Stock Options

The Company has a stock-based  employee  compensation  plan,  which is described
more fully in Notes to  Financial  Statements  included in the December 31, 2002
Annual  Report to  shareholders.  The Company  accounts  for this plan under the
recognition  and  measurement  principles of APB Opinion No. 25,  Accounting for
Stock Issued to Employees, and related interpretations.  No stock-based employee
compensation  cost is reflected in net income,  as all options granted under the
plan had an exercise  price equal to the market value of the  underlying  common
stock on the grant  date.  The  following  table  illustrates  the effect on net
income  and  earnings  per  share if the  Company  had  applied  the fair  value
provisions  of  Statement  of  Financial  Accounting  Standards  (SFAS) No. 123,
Accounting for Stock-Based Compensation, to stock-based employee compensation.

<TABLE>
<CAPTION>


                                                                           Three Months Ended    Three Months Ended March
                                                                             March 31, 2003              31, 2002
                                                                        ----------------------------------------------------
                                                                        (Dollar Amounts In Thousands, Except Share Amounts)

<S>                                                                                   <C>                      <C>
           Net income, as reported                                                    $596                     $527
           Less:  Total stock-based employee compensation cost
              determined under the fair value based method, net of
              income taxes                                                               7                       14
                                                                        ----------------------------------------------------

           Pro forma net income                                                       $589                     $513
                                                                        ====================================================

           Earnings per share:
               Basic - as reported                                                   $ .76                    $ .68
               Basic - pro forma                                                     $ .75                    $ .66
               Diluted - as reported                                                 $ .72                    $ .66
               Diluted - pro forma                                                   $ .71                    $ .64

</TABLE>

Note 5: Effect of Recent Accounting Pronouncements

The Financial Accounting Standards Board ("FASB") adopted Statement of Financial
Accounting Standards ("SFAS") No. 148, Accounting for Stock-Based Compensation -
Transition  and  Disclosure.  This  Statement  amends  FASB  Statement  No. 123,
Accounting  for  Stock-Based  Compensation.  SFAS No. 148  provides  alternative
methods of transition  for a voluntary  change to the fair value based method of
accounting for  stock-based  employee  compensation.  In addition,  SFAS No. 148
amends the disclosure requirements of SFAS No. 123 to require more prominent and
more  frequent   disclosures  in  financial  statements  about  the  effects  of
stock-based compensation.

Under the  provisions  of SFAS No. 123,  companies  that  adopted the fair value
based  method were  required to apply that  method  prospectively  for new stock
option  awards.   This   contributed  to  a  "ramp-up"   effect  on  stock-based
compensation  expense in the first few years  following  adoption,  which caused
concern  for  companies  and  investors  because of the lack of  consistency  in
reported results. To address that concern,  SFAS No. 148 provides two additional
methods of transition  that reflect an entity's full  complement of  stock-based
compensation expense immediately upon adoption,  thereby eliminating the ramp-up
effect.

SFAS No. 148 also improves the clarity and prominence of  disclosures  about the
proforma  effects  of using  the fair  value  based  method  of  accounting  for
stock-based compensation for all companies - regardless of the accounting method
used - by requiring  that the data be presented more  prominently  and in a more
user-friendly format in the footnotes to the financial statements.  In addition,
SFAS No. 148 improves the timeliness of those disclosures by requiring that this
information be included in interim as well as annual  financial  statements.  In
the past,  companies were required to make proforma  disclosures  only in annual
financial statements.

The  transition  guidance and annual  disclosure  provisions of SFAS No. 148 are
effective  for fiscal  years  ending  after  December  15,  2002,  with  earlier
application   permitted  in  certain   circumstances.   The  interim  disclosure
provisions are effective for financial reports containing  financial  statements
for interim periods beginning after December 15, 2002.

The FASB has  stated it  intends  to issue a new  statement  on  accounting  for
stock-based  compensation  and will require  companies to expense  stock options
using a fair value based method at date of grant.  The  implementation  for this
proposed statement is not known.
<PAGE>

Note 6: Reclassifications

Certain  reclassifications  have  been made to the 2002  consolidated  condensed
financial statements to conform to the March 31, 2003 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.


Critical Accounting Policies

The notes to the  consolidated  financial  statements  contain a summary  of the
Corporation's  significant  accounting policies presented on pages 31 through 33
of the Annual  Report to  Shareholders  for the year ended  December  31,  2002.
Certain of these  policies are important to the  portrayal of the  Corporation's
financial condition, since they require management to make difficult, complex or
subjective  judgments,  some of which may relate to matters that are  inherently
uncertain.  Management  believes that its critical  accounting  policies include
determining  the  allowance  for  loan  losses  and the  valuation  of  mortgage
servicing rights.


Allowance for loan losses

The allowance for loan losses is a significant estimate that can and does change
based on management's  assumptions about specific  borrowers and current general
economic and business  conditions,  among other factors.  Management reviews the
adequacy of the  allowance  for loan losses on at least a quarterly  basis.  The
evaluation by management includes consideration of past loss experience, changes
in the  composition of the loan portfolio,  the current  condition and amount of
loans  outstanding,  identified  problem loans and the probability of collecting
all amounts due.

The  determination  of the adequacy of the allowance for loan losses is based on
estimates  that are  particularly  susceptible  to  significant  changes  in the
economic  environment and market conditions.  A worsening or protracted economic
decline would  increase the  likelihood  of additional  losses due to credit and
market risk and could create the need for additional loss reserves.


Valuation of Mortgage Servicing Rights

The Company  recognizes the rights to service  mortgage loans as separate assets
in the  consolidated  balance  sheet.  The  total  cost of  loans  when  sold is
allocated between loans and mortgage servicing rights based on the relative fair
values of each. Mortgage servicing rights are subsequently  carried at the lower
of the  initial  carrying  value,  adjusted  for  amortization,  or fair  value.
Mortgage  servicing  rights are evaluated for impairment based on the fair value
of those  rights.  Factors  included  in the  calculation  of fair  value of the
mortgage  servicing  rights include,  estimating the present value of future net
cash flows,  market loan  prepayment  speeds for similar loans,  discount rates,
servicing costs, and other economic factors. Servicing rights are amortized over
the estimated period of net servicing revenue.  It is likely that these economic
factors will change over the life of the mortgage servicing rights, resulting in
different  valuations of the mortgage servicing rights. The differing valuations
will  affect  the  carrying  value  of  the  mortgage  servicing  rights  on the
consolidated balance sheet as well as the income recorded from loan servicing in
the income  statement.  As of March 31, 2003 and  December  31,  2002,  mortgage
servicing rights had carrying values of $575,000 and $631,000, respectively.
<PAGE>

Financial Condition

At March 31, 2003, the Corporation's consolidated assets totaled $233.9 million,
an increase of $9.9 million,  or 4.2%,  from December 31, 2002.  The increase in
assets  resulted  primarily  from an  increase in net loans  receivable  of $3.0
million and an increase of approximately $3.9 million in investments,  which was
funded by an  increase in  deposits  of $2.9  million  and the  issuance of $7.0
million in trust preferred debentures, as discussed below.

Liquid  assets  (i.e.,  cash and  interest-earning  deposits)  increased by $2.8
million from December 31, 2002 levels,  to a total of $21.4 million at March 31,
2003.  Investment  securities increased by $3.9 million, or 13.8%, to a total of
$32.1 million at March 31, 2003 due to the increase in deposits.

Net loans  receivable were $167.9 million at March 31, 2003, an increase of $3.0
million, or 1.8%, from $164.8 million at December 31, 2002.

The  Corporation's  allowance  for loan  losses  totaled  $2.1  million  at both
December  31,  2002 and  March  31,  2003,  which  represented  1.25%  and 1.26%
respectively of total loans.  Non-performing  loans (defined as loans delinquent
greater than 90 days and loans on  nonaccrual  status)  totaled  $1,080,000  and
$1,912,000  at December  31,  2002 and March 31,  2003,  respectively.  Although
management  believes that its  allowance for loan losses at March 31, 2003,  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 $164.8 million at March 31, 2003, an increase of $2.9 million,
or 1.8%,  compared to total  deposits at December 31,  2002.  The growth for the
three-month period resulted from the marketing and interest rate strategies.

Advances from the Federal Home Loan Bank totaled $39.0 million and $40.0 million
respectively  at March 31, 2003 and  December  31,  2002.  These  advances are a
readily available source of funding for periods when loan demand exceeds deposit
growth.

Shareholders'  equity  totaled  $21.2  million at March 31, 2003, an increase of
$600,000,  or 2.9%,  from $20.6  million at  December  31,  2002.  The  increase
resulted primarily from the Corporation's net income, offset by cash dividends.

The Bank is required to maintain minimum  regulatory capital pursuant to federal
regulations.  At March 31,  2003,  the Bank's  regulatory  capital  exceeded all
applicable regulatory capital requirements.

On  March  13,  2003,  the  Corporation  formed  the RIVR  Statutory  Trust I, a
statutory  trust formed  under  Connecticut  law. On March 26,  2003,  the Trust
issued 7,000 Fixed/Floating Rate Capital Securities with a liquidation amount of
$1,000 per Capital Security in a private  placement to an offshore entity for an
aggregate  offering  price  of  $7,000,000,  and 217  Common  Securities  with a
liquidation  amount  of  $1,000  per  Common  Security  to the  Corporation  for
$217,000.  The aggregate  proceeds of $7,217,000 were used by the RIVR Statutory
Trust I to  purchase  $7,217,000  in  Fixed/Floating  Rate  Junior  Subordinated
Deferrable  Interest  Debentures  from the  Corporation.  The Debentures and the
Common and  Capital  Securities  have a term of 30 years,  bear  interest at the
annual rate of 6.4% for five years and  thereafter  bear interest at the rate of
the 3-Month Libor plus 3.15%. The Corporation has guaranteed  payment of amounts
owed by the RIVR  Statutory  Trust I to holders of the Capital  Securities.  The
proceeds  of the  offering  will be used for general  corporate  purposes of the
Corporation,  including the repurchase of the Corporation's  shares from time to
time.


Comparison  of  Operating  Results for the Three Months Ended March 31, 2003 and
2002

General

The  Corporation's  net income for the three months ended March 31, 2003 totaled
$596,000,  an increase of $69,000,  or 13.1%, from the $527,000 reported for the
quarter  ended March 31,  2002.  The  increase in income for the 2003 period was
primarily  attributable  to a increase in other income  offset by an increase in
other expenses.
<PAGE>

Net Interest Income

Total interest income for the three months ended March 31, 2003 amounted to $3.1
million,  a decrease of $41,000,  or 1.3%, from the comparable  quarter in 2002.
This  decrease   reflects  an  increase  in  average   interest-earning   assets
outstanding offset by a decrease in the loan yield of .75%.

Interest  expense on deposits  decreased  by $192,000,  or 17.8%,  to a total of
$885,000 for the quarter  ended March 31, 2003,  due  primarily to a decrease in
the  average  cost of deposits  offset by an increase in the average  balance of
deposits  outstanding  year-to-year.  Interest  expense  on  borrowings  totaled
$436,000 for the three months ended March 31, 2003, an increase of $122,000 from
the comparable period in 2002. The increase resulted  primarily from an 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 $29,000 or 1.7%, for the three months ended
March 31, 2003, as compared to the comparable period in 2002.


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  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 $90,000 provision for losses on
loans for the three months ended March 31, 2003, compared to the $130,000 amount
recorded in the 2002 period.  The 2003  provision  amount was  predicated on the
balance  of funds  already  reserved,  coupled  with the fact  that  many of our
questionable loans have already been charged off. While management believes that
the allowance for losses on loans is adequate at March 31, 2003,  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  loans in the
future.


Other Income

Other income  increased by $455,000,  for the three months ended March 31, 2003,
as compared to the same period in 2002, due primarily to an increase of $445,000
in gain on sale of loans.  River  Valley sold $22.5  million in loans during the
quarter ended March 31, 2003. Other fee income increased slightly.


Other Expense

Other  expense  increased by  $393,000,  during the three months ended March 31,
2003,  compared to the same period in 2002. The increase was due primarily to an
increase in expense of $219,000 relating to mortgage  servicing costs.  Employee
compensation  and benefits  increased by $95,000 due to an increase in employees
to service an increased asset base and expanded branch network.


Income Taxes

The provision for income taxes totaled $419,000 for the three months ended March
31,  2003,  a increase of $62,000,  or 14.8%,  as compared to the same period in
2002.  The effective tax rates  amounted to 41.2% and 40.4% for the three months
ended March 31, 2003 and 2002, respectively.


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.


Item 3. Controls and Procedures

Within the 90-day period prior to the filing date of this report,  an evaluation
was carried out under the supervision and with the participation of River Valley
Bancorp's management,  including our President and Vice President of Finance, of
the  effectiveness  of our  disclosure  controls and  procedures  (as defined in
Exchange Act Rules 13a-14(c) and 15d-14(c) under the Securities  Exchange Act of
1934).  Based on their  evaluation,  our President and Vice President of Finance
have concluded that the Corporation's disclosure controls and procedures are, to
the best of their knowledge, effective to ensure that information required to be
disclosed  by the  Corporation  in reports  that it files or  submits  under the
Exchange Act is recorded,  processed,  summarized  and reported  within the time
periods  specified  in  Securities  and  Exchange  commission  rules and  forms.
Subsequent to the date of their evaluation,  our President and Vice President of
Finance  have  concluded   that  there  were  no  significant   changes  in  the
Corporation's  internal  controls or in other  factors that could  significantly
affect its internal  controls,  including any corrective  actions with regard to
significant deficiencies and material weaknesses.
<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 a Vote of Security Holders.

          None.

Item 5.   Other Information.

          None.

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

          (a)  Exhibits

               4.1  Form of Fixed/Floating Rate Junior  Subordinated  Deferrable
                    Interest Debentures Indenture, dated March 26, 2003.

               4.2  Form of Fixed/Floating Rate Junior  Subordinated  Deferrable
                    Interest Debentures Trust Agreement, dated March 26, 2003.

               4.3  Form of Fixed/Floating Rate Junior  Subordinated  Deferrable
                    Interest Guarantee Agreement, dated March 26, 2003.

               99.1 Certifications  of  the  President  and  Vice  President  of
                    Finance  pursuant  to 18 U.S.C.  Section  1350,  as  adopted
                    pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

          (b)  Reports on Form 8-K

               i)   On  March  18,  2003,  a  press   release   concerning   the
                    Corporation's dividend declaration, trust preferred sale and
                    repurchase  program was filed on Form 8-K,  listing  Items 5
                    and 7.

<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:  May 14, 2003             By: /s/ Matthew P. Forrester
       ------------             --------------------------------------------
                                    Matthew P. Forrester
                                    President and Chief Executive Officer

Date:  May 14, 2003             By: /s/ Larry C. Fouse
       ------------             --------------------------------------------
                                    Larry C. Fouse
                                    Vice President of Finance
<PAGE>

                                  CERTIFICATION


I, Matthew P. Forrester, certify that:


1.   I have  reviewed  this  quarterly  report on Form  10-QSB  of River  Valley
     Bancorp;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report; and

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report.

4.   The  registrant's  other  certifying  officer  and  I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

     (a)  designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities,  particularly  during  the  period in which  this  quarterly
          report is being prepared;

     (b)  evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     (c)  presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent functions):

     (a)  all  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,   summarize  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     (b)  any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly  report  whether  there  were  significant  changes  in  internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


Date: May 14, 2003
                                      /s/ Matthew P. Forrester
                                      ------------------------------------------
                                      Matthew P. Forrester
                                      President and Chief Executive Officer
<PAGE>

                                  CERTIFICATION

I, Larry C. Fouse, certify that:

1.   I have  reviewed  this  quarterly  report on Form  10-QSB  of River  Valley
     Bancorp;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report; and

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report.

4.   The  registrant's  other  certifying  officer  and  I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

     (a)  designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities,  particularly  during  the  period in which  this  quarterly
          report is being prepared;

     (b)  evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     (c)  presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent functions):

     (a)  all  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,   summarize  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     (b)  any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly  report  whether  there  were  significant  changes  in  internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.




Dated: May 14, 2003
                                      /s/ Larry C. Fouse
                                      ------------------------------------------
                                      Larry C. Fouse
                                      Vice President of Finance