UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q


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

                         Commission File Number 0-11132

                           FIRST BANKING CENTER, INC.
             (Exact name of registrant as specified in its charter)

                   Wisconsin                          39-1391327
          (State or other jurisdiction of          (I.R.S. Employer
           incorporation or organization)          Identification No.)



                    400 Milwaukee Ave., Burlington, WI 53105
               (Address of principal executive offices) (Zip Code)



                                 (262) 763-3581
              (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

Yes     [ X ]     No [   ]

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock,  as of April 30, 2003,  Common stock,  $1.00 par value,  1,495,062
shares outstanding.


Indicate by check mark whether the registrant is an accelerated filer (as define
in Rule 12b-2 of the act). Yes [ ] No [X]

The  aggregate  market value of the voting shares held by  nonaffiliates  of the
Registrant was  $66,208,545 as of June 30, 2002.  Solely for the purpose of this
computation,  it has been assumed that  executive  officers and directors of the
Registrant are affiliates.

<PAGE>

                    FIRST BANKING CENTER, INC AND SUBSIDIARY
                                      INDEX
                                 March 31, 2003



Part I   Financial Information

         Item 1     Consolidated Financial Statements

                    Unaudited Consolidated Balance Sheets,
                    March 31, 2003 and December 31, 2002

                    Unaudited Consolidated Statements of Income, For the three
                    months ended March 31, 2003 and 2002

                    Unaudited Consolidated Statements of Cash Flows, For the
                    three months ended March 31, 2003 and 2002

                    Notes to Unaudited Consolidated Financial Statements

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

         Item 3     Quantitative and Qualitative Disclosures about Market Risk

         Item 4     Controls and Procedures

Part II  Other Information

         Item 1     Legal Proceedings

         Item 2     Changes in Securities and Use of Proceeds

         Item 3     Defaults upon Senior Securities

         Item 4     Submission of Matters to a Vote of Security Holders

         Item 5     Other Information

         Item 6     Exhibits and Reports on Form 8-K

         Signatures

<PAGE>

PART I. FINANCIAL INFORMATION
Item 1. Consolidated Financial Statements
<TABLE>

                     FIRST BANKING CENTER, INC. AND SUBSIDIARY
                       UNAUDITED CONSOLIDATED BALANCE SHEETS
<CAPTION>



                                                                     March 31,   December 31,
ASSETS                                                                 2003          2002
                                                                   --------------------------
                                                                     (Dollars in thousands)
<S>                                                                <C>            <C>
  Cash and due from banks                                          $   16,835     $  22,203
  Federal funds sold                                                    6,093        11,058
  Interest-bearing deposits in banks                                      212           441
  Available for sale securities                                        85,721        87,630
  Loans, less allowance for loan losses of $5,038
   and $4,988 in 2003 and 2002, respectively                          363,306       367,156
  Office buildings and equipment, net                                  10,933        10,576
  FHLB Stock                                                           10,762        10,488
  Other assets                                                          8,346         8,605
                                                                   --------------------------
      TOTAL ASSETS                                                 $  502,208    $  518,157
                                                                   ==========================
LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities
  Deposits
    Demand                                                         $   65,178     $  72,957
    Savings and NOW accounts                                          162,969       174,431
    Time                                                              148,101       146,413
                                                                   --------------------------
      Total Deposits                                                  376,248       393,801
    Short-term borrowings                                              22,687        25,077
    Other borrowings                                                   46,337        46,755
    Other liabilities                                                   6,888         3,804
                                                                   --------------------------
      TOTAL LIABILITIES                                            $  452,160    $  469,437
                                                                   --------------------------
STOCKHOLDERS' EQUITY
  Common Stock, $1.00 par value 3,000,000 shares authorized;
   1,495,062 and 1,494,029 shares issued; 1,494,759 and
   1,494,029 shares outstanding as of March 31, 2003 and
   December 31, 2002, respectively                                      1,495         1,494
  Surplus                                                               4,414         4,375
  Retained Earnings                                                    42,675        41,287
  Accumulated other comprehensive income                                1,477         1,564
  Common stock in treasury, at cost-303 and 0 shares
   as of March 31, 2003 and December 31, 2002, respectively               (13)           -

                                                                   --------------------------
      TOTAL STOCKHOLDERS' EQUITY                                    $   50,048    $  48,720
                                                                   --------------------------
      TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                    $  502,208    $ 518,157
                                                                   ==========================

                  "See accompanying notes to financial statements"

</TABLE>

<PAGE>

<TABLE>
                  FIRST BANKING CENTER, INC. AND SUBSIDIARY
                 UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
<CAPTION>
                                                               Three months ended
                                                                  March 31,
                                                              2003          2002
                                                           ------------------------
                                                           (Dollars in thousands,
                                                            except per share data)
<S>                                                        <C>          <C>
INTEREST INCOME
  Interest and fees on loans                               $   5,918    $   6,373
  Interest and dividends on securities:
    Taxable                                                      482          276
    Non-taxable                                                  425          392
  Interest on federal funds sold                                  38           33
  Interest on interest-bearing deposits in banks                  34           17
                                                           ------------------------
      TOTAL INTEREST INCOME                                    6,897        7,091
                                                           ------------------------
INTEREST EXPENSE
  Interest on deposits                                         1,462        1,722
  Interest on short-term borrowings                               72          122
  Interest on other borrowings                                   460          402
                                                           ------------------------
      TOTAL INTEREST EXPENSE                                   1,994        2,246
                                                           ------------------------
      NET INTEREST INCOME                                      4,903        4,845
  Provision for loan losses                                       90           90
                                                           ------------------------
      NET INTEREST INCOME AFTER PROVISION FOR
        LOAN LOSSES                                            4,813        4,755
                                                           ------------------------

NON-INTEREST INCOME
  Trust fees                                                    119           138
  Service charges on deposit accounts                           465           433
  Investment securities gains                                    41           130
  Automated teller machines                                      85            76
  Other                                                         171           193
                                                           ------------------------
      TOTAL NON-INTEREST INCOME                                 881           970
                                                           ------------------------
NON-INTEREST EXPENSE
  Salary and employee benefits                                2,198         2,106
  Occupancy                                                     284           242
  Equipment                                                     341           374
  Data Processing services                                      245           231
  Stationary and office supplies                                 94            70
  Other                                                         654           541
                                                           ------------------------
      TOTAL NON-INTEREST EXPENSE                              3,816         3,564
                                                           ------------------------
      INCOME BEFORE INCOME TAXES                              1,878         2,161
  Income taxes                                                  490           570
                                                           ------------------------
        NET INCOME                                         $  1,388      $  1,591
                                                           ========================
        Basic earnings per share                           $   0.93      $   1.08
        Diluted earnings per share                         $   0.91      $   1.06



                     "See accompanying notes to financial statements"
</TABLE>

<PAGE>

<TABLE>
                        FIRST BANKING CENTER, INC. AND SUBSIDIARY
                     UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

<CAPTION>

                                                              Three months ended
                                                                  March 31,
                                                             2003           2002
                                                           ------------------------
                                                            (Dollars in thousands)
<S>                                                        <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                                               $    1,388  $    1,591
  Adjustments to reconcile net income to net cash
   provided by (used in) operating activities:
    Depreciation                                                  223         212
    Provision for loan losses                                      90          90
    Amortization of premiums and accretion of discounts
      on securities, net                                           70          23
    Amortization                                                   26          25
    Investment securities gains                                   (41)       (130)
    Tax benefit of nonqualified stock options exercised             -           3
    Decrease (Increase) in other assets                             4         (17)
                                                            -----------------------
    Increase in other liabilities                               3,084         591
       Net cash provided by operations before loan
        originations and sales                                  4,844       2,388
    Loans originated for sale                                 (11,447)     (4,880)
                                                            -----------------------
    Proceeds from sale of loans                                14,106       8,970
                                                            -----------------------
        NET CASH PROVIDED BY OPERATING ACTIVITIES               7,503       6,478

CASH FLOWS FROM INVESTING ACTIVITIES:
    Net increase in interest-bearing deposits in banks            229          79
    Net decrease (increase) in federal funds sold               4,965      (2,225)
    Proceeds from maturities and calls of available for
      sale securities                                          34,748      28,825
    Purchase of available for sale securities                 (33,000)    (25,747)
    Net increase in loans                                       1,101       7,607
                                                            -----------------------
    Purchase of office buildings and equipment, net              (580)       (136)
                                                            -----------------------
        NET CASH PROVIDED BY INVESTING ACTIVITIES               7,463       8,403

CASH FLOWS FROM FINANCING ACTIVITIES:
    Net increase in deposits                                  (17,553)     (5,709)
    Proceeds from other borrowings                                  -       1,000
    Payments on other borrowings                                 (418)    (13,017)
    Net (decrease) in short term borrowings                    (2,390)     (6,024)
    Sale of common stock                                           40           -
    Purchase of treasury stock                                    (32)         (8)
                                                            -----------------------
    Sale of treasury stock for the exercise of
      stock options                                                19          36
                                                            -----------------------
        NET CASH USED IN FINANCING ACTIVITIES                 (20,334)    (23,722)

    NET DECREASE IN CASH AND DUE FROM BANKS                    (5,368)     (8,841)
                                                            -----------------------
CASH AND DUE FROM BANKS:

    Beginning                                                  22,203      20,735

    Ending                                                  $  16,835   $  11,894
                                                            =======================
Supplemental Disclosures of Cash Flow Information,
  Cash Paid During the Year for:

    Interest                                                $   2,103   $   2,233
    Income taxes                                            $     (79)  $      (6)

Supplemental Schedule of Noncash Investing Activities,
  Change in Accumulated Other Comprehensive Income,
    Unrealized Gain on Available-for-Sale Securities, Net   $     (87)  $    (125)

                    "See accompanying notes to financial statements"
</TABLE>

<PAGE>

                    FIRST BANKING CENTER, INC AND SUBSIDIARY
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                                  March 31,2003

NOTE 1 - Basis of Presentation

The unaudited  consolidated  financial  statements include the accounts of First
Banking  Center,  Inc. and its  subsidiary  (the  "Company").  In the opinion of
management,  all adjustments  (consisting only of normal recurring  adjustments)
necessary  for a  fair  presentation  of  the  financial  position,  results  of
operation and cash flows for the interim  periods have been made. The results of
operations  for the  three  months  ended  March  31,  2003 are not  necessarily
indicative of the results to be expected for the entire fiscal year.

The unaudited interim financial statements have been prepared in conformity with
accounting  principles  generally  accepted in the United  States of America and
industry practice.  Certain information in footnote disclosure normally included
in  financial  statements  prepared in  accordance  with  accounting  principles
generally  accepted in the United  States of America and  industry  practice has
been  condensed or omitted  pursuant to rules and  regulations of the Securities
and  Exchange   Commission.   These  financial  statements  should  be  read  in
conjunction  with  the  consolidated  financial  statements  and  notes  thereto
included in the Company's December 31, 2002 audited financial statements.

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America requires  management to make
estimates  and  assumptions  which  affect  the  reported  amounts of assets and
liabilities  and disclosure of contingent  assets and liabilities as of the date
of the  financial  statements,  as well as the  reported  amounts  of income and
expenses  during the reported  periods.  Actual  results could differ from those
estimates.

NOTE 2 - Earnings Per Share
<TABLE>

The following information calculates the computation of earnings per share on a basic and diluted basis.

<CAPTION>

                                                                                Three Months Ended
                                                                                     March 31,
                                                                               2003            2002
                                                                          --------------------------------
                                                                           (Dollars in thousands, except
                                                                                  per share data)
<S>                                                                       <C>              <C>
Basic
Net income                                                                   $  1,388         $  1,591
Weighted average shares outstanding                                             1,495            1,474
Basic earnings per share                                                     $   0.93         $   1.08
                                                                          ================================

Diluted
Net income                                                                   $  1,388         $  1,591
Weighted average shares outstanding                                             1,495            1,474
Effect of dilutive stock options outstanding                                       30               31
                                                                          --------------------------------
Diluted weighted average shares outstanding
                                                                                1,525            1,505
Diluted earnings per share                                                   $   0.91         $   1.06
                                                                          ================================
</TABLE>

<PAGE>

NOTE 3 - Comprehensive Income
<TABLE>

The following table presents our comprehensive income.
<CAPTION>

                                                                                Three Months Ended
                                                                                     March 31,
                                                                               2003            2002
                                                                          --------------------------------
                                                                                (Dollars in thousands)
<S>                                                                       <C>              <C>
Net income                                                                   $  1,388         $  1,591
Other comprehensive income
  Net change in unrealized gain on available for sale securities                  (87)            (125)
                                                                          --------------------------------
Total comprehensive income                                                   $  1,301         $  1,466
                                                                          ================================
</TABLE>

NOTE 4 - Stock-based Compensation Plan:

For the  three  months  ended  March  31,  2003 and 2002,  the  Company  had one
stock-based key officer and employee compensation plan. The Company accounts for
this plan under the recognitions  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 the  income,  as all
options  granted  under those  plans had an  exercise  price equal to the market
value of the underlying  common stock on the date of grant.  The following table
illustrates  the effect on net income and  earnings per share if the Company had
applied the fair value recognition  provisions of Financial Accounting Standards
Board (FASB)  Statement No. 123,  Accounting for  Stock-Based  Compensation,  to
stock-based employee compensation.

<TABLE>
<CAPTION>

                                                                                  Quarter Ended
                                                                            March 31,        March 31,
                                                                               2003            2002
                                                                       ----------------------------------
                                                                          (Amounts in thousands, except
                                                                               for per share data)
<S>                                                                    <C>              <C>
Net income, as reported                                                      $  1,388         $  1,591
Deduct total stock-based employee
compensation expense determined
under fair value based method for all
awards, net of related tax effects                                               (201)            (239)
                                                                        ----------------------------------

Pro forma net income                                                         $  1,187         $  1,352
                                                                        ==================================

Earnings per share:
Basic:
As reported                                                                  $   0.93         $   1.08
Pro forma                                                                        0.79             0.92
Diluted:
As reported                                                                  $   0.91         $   1.06
Pro forma                                                                        0.78             0.90

</TABLE>

In  determining  compensation  cost using the fair value  method  prescribed  in
Statement  No. 123,  the value of each grant is estimated at the grant date with
the following weighted-average assumptions used for grants on March 31, 2002 and
2001,  respectively:  dividend  yield of 1.5 percent and 1.7  percent;  expected
price  volatility  of 5.2 percent and 5.2 percent,  blended  risk-free  interest
rates  of  4.3  percent  and  4.3  percent;  and  expected  lives  of 10  years,
respectively.

<PAGE>

Note 5 - Commitments and Contingencies

In the normal  course of  business,  the Company is  involved  in various  legal
proceedings.  In the opinion of  management,  any liability  resulting from such
proceedings  would  not  have a  material  adverse  effect  on the  consolidated
financial statements.

The Company is party to financial instruments with off-balance-sheet risk in the
normal course of business to meet the financing  needs of its  customers.  These
financial   instruments   include   commitments  to  extend  credit,   financial
guarantees,  and standby letters of credit.  They involve,  to varying  degrees,
elements  of credit  risk in excess of amounts  recognized  on the  consolidated
balance sheets.

The  Company's  exposure  to credit loss in the event of  nonperformance  by the
other party to the financial  instrument  for  commitments  to extend credit and
standby letters of credit is represented by the  contractual  notional amount of
those  instruments.  The  Company  uses  the  same  credit  policies  in  making
commitments  and  issuing  letters  of  credit  as they do for  on-balance-sheet
instruments.

<TABLE>

A summary of the contract or notional amount of the Company's exposure to
off-balance-sheet risk as of March 31 is as follows:
<CAPTION>

                                                   2003             2002
                                              -------------------------------
                                                  (Amounts in thousands)
<S>                                           <C>              <C>
Financial instruments whose contract
  amounts represent credit risk:
    Commitments to extend credit                   $ 67,402         $ 67,414
    Standby letters of credit                         2,908            6,291

</TABLE>

Commitments  to extend  credit are  agreements  to lend to a customer as long as
there is no violation of any condition established in the contract.  Commitments
generally  have fixed  expiration  dates or other  termination  clauses  and may
require  payment of a fee. Since many of the  commitments are expected to expire
without  being  drawn  upon,  the total  commitment  amounts do not  necessarily
represent  future cash  requirements.  Standby letters of credit are conditional
commitments  issued to guarantee the performance of a customer to a third-party.
Those  guarantees are primarily  issued to support public and private  borrowing
arrangements.  The  credit  risk  involved  in  issuing  letters  of  credit  is
essentially the same as that involved in extending loan facilities to customers.
The Company evaluates each customer's credit worthiness on a case-by-case basis.
The amount of  collateral  obtained,  if deemed  necessary  by the Company  upon
extension  of  credit,  is  based  on  management's  credit  evaluation  of  the
counterparty.  Collateral  held  varies  but may  include  accounts  receivable,
inventory,  property and equipment, and income-producing  commercial properties.
Credit card commitments are unsecured.

Standby  letters of credit  are  conditional  commitments  issued by the Bank to
guarantee the performance of a customer to a third-party.  Those  guarantees are
primarily  issued to support  public and  private  borrowing  arrangements  and,
generally,  have terms of one year or less.  The credit risk involved in issuing
letters of credit is  essentially  the same as that  involved in extending  loan
facilities to customers.  The Bank holds collateral,  which may include accounts
receivable,  inventory,  property,  equipment, and income-producing  properties,
supporting those commitments if deemed necessary. In the event the customer does
not perform in accordance with the terms of the agreement with the  third-party,
the Bank would be required to fund the commitment.  The maximum potential amount
of future  payments  the Bank could be  required to make is  represented  by the
contractual  amount shown in the summary on the previous page. If the commitment
is funded the Bank would be  entitled to seek  recovery  from the  customer.  At
March 31, 2003 and 2002,  no amounts have been recorded as  liabilities  for the
Bank's potential obligations under these guarantees.

<PAGE>

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

                    FIRST BANKING CENTER, INC AND SUBSIDIARY
                       MANAGEMENTS DISCUSSION AND ANALYSIS
                OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                              As of March 31, 2003

The following discussion provides additional analysis of the financial condition
and results of  operations  of the Company for the three  months ended March 31,
2003.  This  discussion  focuses on the  significant  factors that  affected the
Company's  earnings so far in 2003,  with  comparisons  to 2002. As of March 31,
2003,  First Banking  Center (the "Bank") was the only direct  subsidiary of the
Company and its operations  contributed  nearly all of the revenue for the year.
The Company provides various support functions for the Bank and receives payment
from the Bank for these services. These intercompany payments are eliminated for
the purpose of these consolidated financial statements.  The Bank has two wholly
owned  subsidiaries,  FBC Financial  Services,  Corp., a brokerage and financial
services subsidiary, and FBC-Burlington,  Inc., an investment subsidiary located
in Nevada.

Overview

As of March 31, 2003,  total Company assets were $502.2 million  decreasing 3.1%
from $518.1 million as of December 31, 2002. Total income,  for the three months
ended March 31, 2003, was $1.4 million or $.93 per share,  decreasing 12.8% from
$1.6 million or $1.08 per share in 2002. The significant  items resulting in the
above-mentioned results are discussed below.

Financial Condition

Loans

Loans  outstanding  were $368.3 million and $372.1 million on March 31, 2003 and
December 31, 2002  respectively.  This  represents a decrease of $3.8 million or
1.0%.  The  following  table  summarizes  the  changes to date in the major loan
classifications.

<TABLE>
<CAPTION>

                                                                                         As a % of Total Loans
                                          March 31,     December 31,   Change in        March 31,     December 31,
                                            2003            2002        Balance            2003           2002
                                         -----------------------------------------     ------------------------------
                                                 (Dollars in millions)
<S>                                      <C>            <C>            <C>             <C>            <C>
Residential Real Estate                        $167.4          $163.9       $3.5               45.5%          44.0%
Commercial Real Estate                          $92.7           $91.8       $0.9               25.2%          24.7%
Construction and Land Development               $38.1           $42.4     ($4.3)               10.3%          11.4%
Commercial                                      $23.9           $26.2     ($2.3)                6.5%           7.0%
Agricultural                                    $19.0           $18.7       $0.3                5.2%           5.0%

</TABLE>

Allowance for Loan Losses

The  allowance  for possible loan losses was $5.0 million or 1.4% of gross loans
on March  31,  2003,  compared  with  $5.0  million  or 1.34% of gross  loans on
December 31, 2002. Net  charge-offs  for the last three months were $40 thousand
or .01% of gross loans,  compared to net charge-offs of $441 thousand or .12% of
gross loans for the year ended December 31, 2002.

The allowance for loan losses is established through a provision for loan losses
charged to expense. Loans are charged against the allowance for loan losses when
management  believes that the  collectibility of the principal is unlikely.  The
allowance for loan losses is adequate to cover probable  credit losses  relating
to specifically  identified loans, as well as probable credit losses inherent in
the balance of the loan portfolio. In accordance with FASB Statements 5 and 114,
the  allowance is provided for losses that have been  incurred as of the balance
sheet  date.  The  allowance  is  based  on past  events  and  current  economic
conditions,  and does not include  the  effects of  expected  losses on specific
loans or groups of loans that are related to future  events or expected  changes
in economic  conditions.  Management  reviews a calculation of the allowance for
loan losses on a quarterly  basis.  While  management uses the best  information
available to make its  evaluation,  future  adjustments  to the allowance may be
necessary  if there are  significant  changes in economic  conditions.  Impaired
loans are  measured  based on the present  value of  expected  future cash flows
discounted at the loan's effective  interest rate or, as a practical  expedient,
at the loan's observable market price or the fair value of the collateral if the
loan is collateral dependent. A loan is impaired when it is probable the company
will be unable to collect all contractual principal and interest payments due in
accordance with the terms of the loan agreement.

<PAGE>

In addition,  various regulatory agencies  periodically review the allowance for
loan  losses.  These  agencies  may  require the bank to make  additions  to the
allowance for loan losses based on their  judgments of  collectibility  based on
information available to them at the time of their examination.

For the three months ending March 31, 2003,  $90 thousand was charged to current
earnings and added to the allowance for loan losses.

Non-accrual, Past Due and Renegotiated Loans

<TABLE>
<CAPTION>

                                                                      March 31,       December 31,
                                                                         2003             2002
                                                                   ----------------------------------
                                                                        (Dollars in thousands)
<S>                                                                <C>              <C>
Non-accrual Loans (a)                                                   $7,493           $2,016
Past Due 90 days + (b)                                                       0                0
Restructured Loans                                                           0                0
</TABLE>


The policy of the Company is to place a loan on non-accrual status if:

(a)  payment in full of interest and principal is not expected, or

(b)  principal  or interest  has been in default for a period of 90 days or more
     unless  the  obligation  is both in the  process  of  collection  and  well
     secured. Well secured is defined as collateral with sufficient market value
     to repay  principal and all accrued  interest.  A debt is in the process of
     collection  if  collection  of the debt is  proceeding in due course either
     through legal action,  including judgement  enforcement  procedures,  or in
     appropriate  circumstances,  through collection efforts not involving legal
     action which are reasonably  expected to result in repayment of the debt or
     in its restoration to current status.

The  non-accrual  loans  consisted  primarily of $5.7 million of commercial real
estate loans, $1.5 million of residential real estate loans and $163 thousand of
commercial  loans.  On March 31,  2003,  the ratio of  non-accrual  loans to the
allowance for loan losses was 148.7% compared to 40.4% on December 31, 2002. The
5.7 million of  non-accrual  commercial  loans  consists  primarily of two loans
which are in the process of collection.  The company believes it has an adequate
allowance for any anticipated losses for these loans.


As of March 31, 2003,  the Company had loans  totaling $15.6 million in addition
to those listed as non-accrual, past due or renegotiated that were identified by
the Banks'  internal asset rating  systems as classified  assets and loans which
management has  determined  require  additional  monitoring.  This  represents a
decrease of $8.5  million or 35.4% from  December 31,  2002.  Management  is not
aware of any significant loans, group of loans or segments of the loan portfolio
not included above,  where full  collectibility  cannot  reasonably be expected.
Management  has  committed  resources  and is  focusing  on efforts  designed to
control the amount of classified assets. The company does not have a substantial
portion of its loans  concentrated  in one or a few  industries nor does it have
any foreign loans  outstanding  as of March 31, 2003.  The  company's  loans are
concentrated  geographically  in the  Wisconsin  counties  of Racine,  Walworth,
Kenosha, Lafayette and Green.

Investments securities - Available for Sale

For the purposes of this discussion,  investment  security balances are based on
amortized  costs.  The securities  available-for-sale  portfolio  decreased $1.8
million or 2.1% from  December 31, 2002.  The decrease  came from three areas of
the portfolio. The company purchased $4.5 million of mortgage-backed securities,
$3.0 million of  Commercial  Paper and $26.0 million of U.S.  Government  Agency
Discount  Notes.  The company had $590  thousand of municipal  securities,  $2.1
million of Commercial Paper and CDs, and $28.0 million of U.S. Government Agency
Discount Notes mature.  There were $295 thousand of municipal  securities called
and $466 thousand of agency securities called by various Government Agencies.

<PAGE>

Deposits and Borrowed Funds

Total deposits and borrowed funds were $445.3 million on March 31, 2003 compared
to $465.6  million on December 31, 2002.  This is a decrease of $20.3 million or
4.4%.  The decrease is due to  decreased  demand  deposits  and savings.  Demand
deposits and savings  deposits  decrease $7.8 million or 10.7 % and $8.1 or 5.6%
respectively.   The  following  table   summarizes  the  changes  in  the  major
classifications of deposits and borrowed funds.
<TABLE>
<CAPTION>

                                                            March 31,         December 31,                  Change in
                                                               2003               2002                       Balance
                                                        --------------------------------------              -----------
                                                                (Dollars in millions)
<S>                                                     <C>               <C>                               <C>
Money Market and Savings                                       $136.7             $144.8                      ($8.1)
Demand  Deposits                                                $65.2              $73.0                      ($7.8)
Time Deposits less than $100,000                                $88.2              $90.2                      ($2.0)
Time Deposits equal or greater than $100,000                    $60.0              $56.2                       $3.8
Securities sold under agreement to repurchase                   $22.6              $25.0                      ($2.4)
Federal Home Loan Borrowings                                    $46.3              $46.8                      ($0.5)
</TABLE>

Capital resources

As of March 31, 2003, the Company's  stockholders' equity increased $1.3 million
or 2.73%.  Net income of $1.4 million was the primary reason for the increase in
equity.  The company  purchased $13 thousand of treasury  stock during the first
three months of 2003.  Accumulated  other  comprehensive  income  decreased  $87
thousand from $1.6 million to $1.5 million.

In December 1990,  the Federal  Reserve  Board's  risk-based  guidelines  became
effective.  Under these  guidelines  capital is measured  against the  Company's
subsidiary  bank's  risk-weighted  assets.  The Company's tier 1 capital (common
stockholders'  equity less goodwill) to risk-weighted  assets was 13.0% at March
31, 2003,  well above the 4% minimum  required.  Total capital to  risk-adjusted
assets was 14.2%, also well above the 8% minimum requirement. The leverage ratio
was at 9.5%  compared to the 4% minimum  requirement.  According to FDIC capital
guidelines,   the   Company's   subsidiary   bank  is  considered  to  be  "well
capitalized."

Asset/liability management

The principal  function of  asset/liability  management is to manage the balance
sheet mix,  maturities,  repricing  characteristics  and pricing  components  to
provide an adequate and stable net interest  margin with an acceptable  level of
risk over time and through interest rate cycles.

Interest-sensitive  assets  and  liabilities  are  those  that  are  subject  to
repricing   within  a  specific   relevant  time  horizon.   The  Bank  measures
interest-sensitive  assets and  liabilities,  and their  relationship  with each
other at terms of immediate, quarterly intervals up to 1 year, and over 1 year.

Changes in net interest income,  other than volume related,  arise when interest
rates on assets  reprice in a time frame or interest  rate  environment  that is
different  from the repricing  period for  liabilities.  Changes in net interest
income  also  arise  from  changes  in the mix of  interest  earning  assets and
interest-bearing liabilities.

The Bank's  strategy with respect to  asset/liability  management is to maximize
net  interest  income  while  limiting  its  exposure  to a  potential  downward
movement.  Strategy is implemented by the Bank's management,  which takes action
based upon its analysis of the Bank's  present  positioning,  its desired future
positioning,  economic  forecasts,  and its goals.  It is the  Bank's  desire to
maintain a cumulative GAP of positive or negative 15% of rate  sensitive  assets
at the 1-year time frame.  The current  percentage  is a positive  21.1%,  which
compares to a positive 20% as of December 31,  2002.  Although  these ratios are
outside the Bank's  target  range,  the Bank's  management  feels the ratios are
appropriate  at this time due to  management's  projection  for future  interest
rates.

<PAGE>

Liquidity

Liquidity  measures  the  ability  of  First  Banking  Center  to meet  maturing
obligations and its existing commitments,  to withstand  fluctuations in deposit
levels, to fund its operations,  and to provide for customers' credit needs. One
source of  liquidity is cash and  short-term  assets,  such as  interest-bearing
deposits in other banks and federal  funds sold,  which totaled $23.1 million at
March 31, 2003, compared with $33.7 million at December 31, 2002. The Bank has a
variety of sources of short-term  liquidity  available to it, including  federal
funds  purchased from  correspondent  banks,  sales of securities  available for
sale, FHLB advances,  lines of credit and loan  participations  or sales.  First
Banking Center also generates  liquidity from the regular principal payments and
prepayments made on its portfolio of loans and mortgage-backed securities.

The   liquidity  of  First   Banking   Center  is  comprised  of  three  primary
classifications: cash flows from operating activities, cash flows from investing
activities,  and cash flows from  financing  activities.  Net cash  provided  by
operating activities was $7.5 million. Net cash provided by investing activities
was $7.5 million.  Net cash used in financing  activities was $20.3 million, for
the three months ended March 31, 2003.

For the three  months  ending  March 31,  2002,  net cash  provided by operating
activities was $6.5 million.  Net cash provided by investing activities was $8.4
million. Net cash used in financing activities was $23.7 million.

Impact of Inflation and Changing Prices

The  consolidated  financial  statements  and the  accompanying  notes have been
prepared in accordance  with  accounting  principles  generally  accepted in the
United States of America,  which require the  measurement of financial  position
and operating results in terms of historical dollar amounts without  considering
the  changes  in the  relative  purchasing  power  of  money  over  time  due to
inflation.  The impact of inflation is reflected in the increased  cost of First
Banking Center's  operations.  Unlike  industrial  companies,  nearly all of the
assets and  liabilities  of First  Banking  Center are monetary in nature.  As a
result,  interest  rates  have  a  greater  impact  on  First  Banking  Center's
performance  than do the effects of general levels of inflation.  Interest rates
do not necessarily move in the same direction or to the same extent as the price
of goods and services.

Forward Looking  Statements- Safe Harbor Statement under the Private  Securities
Litigation Reform Act of 1995

This report contains certain  forward-looking  statements  within the meaning of
Section  27A of the  Securities  Act of 1933,  as amended and Section 21E of the
Securities  Exchange Act of 1934, as amended.  First Banking Center intends such
forward-looking  statements  to be covered  by the safe  harbor  provisions  for
forward-looking  statements  contained in the Private  Securities  Reform Act of
1995,  and is  including  this  statement  for  purposes  of these  safe  harbor
provisions.  Forward-looking statements,  which are based on certain assumptions
and describe First Banking  Center's future plans,  strategies and  expectations
are generally  identifiable by use of the words "believe,"  "expect,"  "intend,"
"anticipate,"  "estimate,"  "project"  or  similar  expressions.  First  Banking
Center's  ability to predict  results  or the actual  effect of future  plans or
strategies is inherently uncertain.  Factors which could have a material adverse
affect on First Banking Center's  operations and future prospects  include,  but
are not limited to, changes in: interest  rates,  general  economic  conditions,
legislative/regulatory  changes,  monetary  and  fiscal  policies  of  the  U.S.
Government,  including  policies of the U.S.  Treasury  and the Federal  Reserve
Board, the quality or composition of the loan or investment  portfolios,  demand
for loan products, deposit flows, competition,  demand for financial services in
our market area, our implementation of new technologies,  First Banking Center's
ability to develop  and  maintain  secure and  reliable  electronic  systems and
accounting  principles,  policies and guidelines.  These risks and uncertainties
should be considered in evaluating forward-looking statements and undue reliance
should not be placed on such statements.

<PAGE>

Current Accounting Developments

The Financial Accounting Standards Board has issued Statement 149, "Amendment of
Statement 133 on Derivative Instruments and Hedging".  This Statement amends and
clarifies  financial  accounting  and  reporting  for  derivative   instruments,
including certain derivative  instruments  embedded in other contracts,  and for
hedging activities under Statement 133. The Statement is effective for contracts
entered  into or  modified  after June 30,  2003 and for  hedging  relationships
designated after June 30, 2003.  Implementation of the Statement is not expected
to have a material impact on the financial statements.

Results of operations

Net Interest Income

Net interest income is the difference  between interest income and fees on loans
and interest expense,  and is the largest  contributing factor to net income for
the  Company.  All  discussions  of rate are on a  tax-equivalent  basis,  which
accounts for income earned on nontaxable loans and securities that are not fully
subject to federal  taxes.  Net interest  income was $5.1 million March 31, 2003
and 2002.  Net  interest  margin  as a  percentage  of  average  earning  assets
(includes  loans placed on nonaccrual  status) was 4.27% and 4.76% for the three
months ended March 2003 and 2002.

The major component of interest income and fees on loans is the income generated
by loans.  Interest income and fees on loans decreased due to decreased rates on
increasing average balances. The rates earned decreased from 7.15% to 6.45%.

As of March 31, 2003 average balances outstanding increased, however, rates paid
for  liabilities  decreased  causing a decrease in interest  expense.  The major
components  of interest  expense are interest  paid on  Certificates  of Deposit
(Time Deposits) and on Money Market Deposits.  Interest expense on Time Deposits
decreased due to decreased rates paid on increasing average balances.  The rates
paid  decreased  from 3.0% to 2.4%, for the months ended March 31, 2003 and 2002
respectively. Interest expense on Money Market Deposits decreased as a result of
decreased average balances. The rates paid decreased from 1.41% to .78%, for the
three months ended March 31, 2003 and 2002 respectively.

The  following  table  summarizes  the  changes  and  reasons for the changes in
interest earned and paid during the three months ended March 2003 and 2002.
<TABLE>
<CAPTION>

                                                                        Three months ended
                                                                             March 31,
                                                  2003                                 2002
                                               ----------- ---------- ----------    ----------- ---------- ----------
                                                           Interest    Average                  Interest    Average
                                                Average     Earned      Yield        Average     Earned      Yield
                                                Balance     or Paid    or Cost       Balance     or Paid    or Cost
                                               ----------- ---------- ----------    ----------- ---------- ----------
                                                                      (Dollars in thousands)
<S>                                         <C>            <C>        <C>           <C>         <C>        <C>
Interest Income:
  Interest and fees on loans (a)            $     367,724      5,929      6.45%        357,585      6,392      7.15%
  Interest and dividends on securities:
      Taxable                                      58,858        482      3.28%         22,224        276      4.97%
      Nontaxable (a)                               36,531        644      7.05%         33,118        594      7.17%
  Interest on Fed funds sold                       13,368         38      1.14%          8,824         33      1.50%
  Interest on interest-bearing deposits in
   banks                                            4,706         34      2.89%          3,891         17      1.75%
                                               ----------- ---------- ----------    ----------- ---------- ----------
       Total Interest Income                $     481,187      7,127      5.92%        425,642      7,312      6.87%
                                               =========== ========== ==========    =========== ========== ==========

Interest Expense
  Interest on deposits                      $     316,691      1,462      1.85%        292,642      1,722      2.35%
  Interest on short-term borrowings                26,052         72      1.11%         24,397        132      2.16%
  Interest on other borrowings                     45,985        460      4.00%         35,509        392      4.42%
                                               ----------- ---------- ----------    ----------- ---------- ----------
       Total Interest Expense               $     388,728      1,994      2.05%        352,548      2,246      2.55%
                                               =========== ========== ==========    =========== ========== ==========

Net interest margin                                     $      5,133      4.27%              $      5,066      4.76%
                                                           ========== ==========                ========== ==========

<FN>
(a)  The interest and average yield for nontaxable loans and investments are presented on a federal taxable basis
     assuming a 34% tax rate.
</FN>
</TABLE>

<PAGE>

Non-interest income

Non-interest  income  decreased  $89 thousand or 9.2% as of March 31, 2003.  The
decrease was a result of a decline in brokerage annuity sales.

Non-interest expense

Non-interest  expense  increased  $252  thousand  or 7.1% as of March 31,  2003.
Salaries and benefits  accounted for $92 thousand.  The increase in salaries and
benefits is due to normal wage increases and increased  health  insurance costs.
Occupancy  expense  increased  $42 thousand  due  primarily to increases in real
estate  taxes,  depreciation  and  utilities.   Other  expenses  increased  $113
thousand.

Critical Accounting Policies

Income Taxes

See Note 1 of the notes to our audited consolidated financial statements for the
year ended  December 31, 2002 for our income tax accounting  policy.  Income tax
expense recorded in the consolidated  income statement  involves  interpretation
and application of certain  accounting  pronouncements and federal and state tax
codes, and is, therefore,  considered a critical  accounting  policy. We undergo
examinations by various regulatory taxing authorities. Such agencies may require
that changes in the amount of tax expense or valuation  allowance be  recognized
when  their  interpretations  differ  from those of  management,  based on their
judgments about information available to them at the time of their examinations.
See Note 11 of the notes to our audited  consolidated  financial  statements for
the year ended December 31, 2002 for more income tax information.

Allowance for Loan Losses

Management  believes the allowance for loan losses accounting policy is critical
to the portrayal  and  understanding  of our financial  condition and results of
operations.  As such,  selection and  application of this  "critical  accounting
policy" involves judgments, estimates, and uncertainties that are susceptible to
change.  In the event that different  assumptions or conditions were to prevail,
and depending upon the severity of such changes,  the  possibility of materially
different   financial  condition  or  results  or  operations  is  a  reasonable
likelihood.

Item 3.  Quantitative and Qualitative Disclosures about Market Risk

First Banking Center,  like other financial  institutions,  is subject to direct
and  indirect  market risk.  Direct  market risk exists from changes in interest
rates.  First  Banking  Center's  net income is  dependent  on its net  interest
income.  Net interest  income is susceptible to interest rate risk to the degree
that  interest-bearing  liabilities  mature or reprice on a different basis than
interest-earning  assets.  When  interest-bearing  liabilities mature or reprice
more quickly  than  interest-earning  assets in a given  period,  a  significant
increase in market rates of interest could adversely affect net interest income.

Similarly,  when  interest-earning  assets  mature or reprice  more quickly than
interest-bearing liabilities,  falling interest rates could result in a decrease
in net income.

In an attempt to manage its  exposure to changes in interest  rates,  management
monitors  First  Banking  Center's  interest  rate  risk.  The   Asset/Liability
Committee  meets quarterly to review First Banking  Center's  interest rate risk
position  and   profitability,   and  to  make  or  recommend   adjustments  for
consideration  by the Board of  Directors.  Management  also  reviews the Bank's
securities portfolio,  formulates investment strategies, and oversees the timing
and   implementation  of  transactions  to  assure  attainment  of  the  Board's
objectives in the most effective manner.  Notwithstanding First Banking Center's
interest rate risk management  activities,  the potential for changing  interest
rates is an uncertainty that can have an adverse effect on net income.

In adjusting  First Banking  Center's  asset/liability  position,  the Board and
management  attempt to manage First  Banking  Center's  interest rate risk while
maintaining or enhancing net interest margins. At times,  depending on the level
of general  interest rates, the  relationship  between  long-term and short-term
interest  rates,  market  conditions  and  competitive  factors,  the  Board and
management  may decide to increase  First  Banking  Center's  interest rate risk
position  somewhat in order to increase its net interest  margin.  First Banking
Center's  results of operations  and net portfolio  values remain  vulnerable to
increases  in  interest  rates and to  fluctuations  in the  difference  between
long-term and short-term interest rates.

<PAGE>

One approach  used to quantify  interest  rate risk is the net  portfolio  value
("NPV") analysis.  In essence,  this analysis  calculates the difference between
the present  value of  liabilities  and the present value of expected cash flows
from assets and off-balance-sheet contracts. The most recent NPV analysis, as of
March  31,  2003,   projects  that  net  portfolio   value  would   decrease  by
approximately  5.75% if  interest  rates  would rise 200 basis  points and would
decrease by  approximately  2.77% if interest  rates would rise 100 basis points
over  the  next  year.  It  projects  an  increase  in net  portfolio  value  of
approximately  13.37% if  interest  rates  would  drop 200 basis  points  and an
increase of  approximately  8.53% if interest rates would drop 100 basis points.
Both simulations are within board-established policy limits. The Company has not
experienced any material  changes to its market risk position since December 31,
2002, as disclosed in the Company's 2002 Form 10K Annual  Report.  First Banking
Center's  policy is to limit the effect of a 200 basis  point rate shock to plus
or minus 20% of  projected  net  interest  income and to minus 35% of the market
value of portfolio equity.

First  Banking  Center does not  currently  engage in trading  activities or use
derivative   instruments  to  control  interest  rate  risk.  Even  though  such
activities may be permitted  with the approval of the Board of Directors,  First
Banking  Center does not intend to engage in such  activities  in the  immediate
future.

Interest rate risk is the most  significant  market risk affecting First Banking
Center.  Other types of market risk, such as foreign currency exchange rate risk
and  commodity  price risk,  do not arise in the normal  course of First Banking
Center's business activities.

Item 4.  Controls and Procedures

Within  the 90 days  prior  to the  date of this  report,  the  Company's  Chief
Executive  Officer and Chief Financial  Officer carried out an evaluation,  with
the participation of other members of management as they deemed appropriate,  of
the  effectiveness  of the  design and  operation  of the  Company's  disclosure
controls and procedures as contemplated by Exchange Act Rule 13a-14. Based upon,
and as of the date of that  evaluation,  the Chief  Executive  Officer and Chief
Financial  Officer  concluded  that  the  Company's   disclosure   controls  and
procedures are effective,  in all material respects,  in timely alerting them to
material information relating to the Company (and its consolidated subsidiaries)
required to be included in the periodic  reports the Company is required to file
and submit to the SEC under the Exchange Act.

There have been no significant  changes to the Company's internal controls or in
other factors that could  significantly  affect these controls subsequent to the
date that the internal  controls  were most  recently  evaluated.  There were no
significant  deficiencies or material  weaknesses  identified in that evaluation
and, therefore, no corrective actions were taken.

<PAGE>

Part II-OTHER INFORMATION
Item 1.  Legal Proceedings

              None

Item 2.  Changes in Securities

             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

                  99.1  Certification of the Chief Executive Officer pursuant to
                        Section 906 of the Sarbanes-Oxley Act  of  2002 (exhibit
                        is being filed herewith).

                  99.2  Certification of the Chief Financial Officer pursuant to
                        Section 906 of the Sarbanes-Oxley Act  of 2002  (exhibit
                        is being filed herewith).

             (b)  Reports on Form 8-K

                  None

<PAGE>

                   FIRST BANKING CENTER, INC AND SUBSIDIARIES


                                   SIGNATURES





Pursuant to the requirements of the Securities Exchange Act of 1943, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.










                           First Banking Center, Inc.





May 15, 2003                        /s/ Brantly Chappell
Date                                ---------------------------
                                        Brantly Chappell
                                        Chief Executive Officer




May 15, 2003                        /s/ James Schuster
Date                                ---------------------------
                                        James Schuster
                                        Chief Financial Officer

<PAGE>

                  CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

I, Brantly Chappel, Chief Executive Officer, certify that:

1) I have reviewed this quarterly  report on Form 10-Q of First Banking  Center,
Inc.;

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;

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  officers  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 we 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 function):

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 or not 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 15, 2003




        /s/ Brantly Chappell
        -----------------------
        Brantly Chappell
        Chief Executive Officer

<PAGE>

                  CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

I, James Schuster, Chief Financial Officer, certify that:

1) I have reviewed this quarterly  report on Form 10-Q of First Banking  Center,
Inc.;

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;

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  officers  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 we 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 function):

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 or not 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 15, 2003




        /s/ James Schuster
        -----------------------
        James Schuster
        Chief Financial Officer

<PAGE>

Exhibit 99.1

                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The  following  certification  is provided by the  undersigned  Chief  Executive
Officer of First Banking Center,  Inc. on the basis of such officer's  knowledge
and belief for the sole purpose of complying  with 18 U.S.C.  Section  1350,  as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

                                  CERTIFICATION

In connection  with the  Quarterly  Report of First  Banking  Center,  Inc. (the
"Company")  on Form 10-Q for the period  ended  March 31, 2003 as filed with the
Securities and Exchange  Commission on May 15, 2003 (the  "Report"),  I, Brantly
Chappell, Chief Executive Officer of the Company, hereby certify, pursuant to 18
U.S.C.  Section 1350, as adopted  pursuant to Section 906 of the  Sarbanes-Oxley
Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of
the Securities Exchange Act of 1934, as amended; and

(2) The  information  contained in the Report fairly  presents,  in all material
respects, the financial condition and results of operations of the Company.





        /s/Brantly Chappell
        ------------------------------
        Name:  Brantly Chappell
        Title: Chief Executive Officer
        Date:  May 15, 2003

<PAGE>

Exhibit 99.2

                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The  following  certification  is provided by the  undersigned  Chief  Financial
Officer of First Banking Center,  Inc. on the basis of such officer's  knowledge
and belief for the sole purpose of complying  with 18 U.S.C.  Section  1350,  as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

                                  CERTIFICATION

In connection  with the  Quarterly  Report of First  Banking  Center,  Inc. (the
"Company")  on Form 10-Q for the period  ended  March 31, 2003 as filed with the
Securities  and Exchange  Commission  on May 15, 2003 (the  "Report"),  I, James
Schuster, Chief Financial Officer of the Company, hereby certify, pursuant to 18
U.S.C.  Section 1350, as adopted  pursuant to Section 906 of the  Sarbanes-Oxley
Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of
the Securities Exchange Act of 1934, as amended; and

(2) The  information  contained in the Report fairly  presents,  in all material
respects, the financial condition and results of operations of the Company.





        /s/James Schuster
        ------------------------------
        Name:  James Schuster
        Title: Chief Financial Officer
        Date:  May 15, 2003
[{"type": "10-Q", "sequence": "1", "filename": "march10q.txt", "description": "10-Q FOR MARCH 31, 2003", "secsgml_size_bytes": 72624}]
{"company-data": {"conformed-name": "FIRST BANKING CENTER INC", "cik": "0000356858", "assigned-sic": "6022", "irs-number": "391391327", "state-of-incorporation": "WI", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "10-Q", "act": "34", "file-number": "000-11132", "film-number": "03704288"}, "business-address": {"street1": "400 MILWAUKEE AVE", "street2": "P O BOX 660", "city": "BURLINGTON", "state": "WI", "zip": "53105", "phone": "4147633581"}, "mail-address": {"street1": "567 BROAD ST", "street2": "PO BOX 970", "city": "LAKE GENEVA", "state": "WI", "zip": "53147"}, "former-company": {"former-conformed-name": "FIRST COMMUNITY BANK GROUP INC", "date-changed": "19850312"}}
UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

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

                         Commission File Number 0-11132

                           FIRST BANKING CENTER, INC.
             (Exact name of registrant as specified in its charter)

                   Wisconsin                          39-1391327
          (State or other jurisdiction of          (I.R.S. Employer
           incorporation or organization)          Identification No.)

                    400 Milwaukee Ave., Burlington, WI 53105
               (Address of principal executive offices) (Zip Code)

                                 (262) 763-3581
              (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

Yes     [ X ]     No [   ]

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock,  as of April 30, 2003,  Common stock,  $1.00 par value,  1,495,062
shares outstanding.

Indicate by check mark whether the registrant is an accelerated filer (as define
in Rule 12b-2 of the act). Yes [ ] No [X]

The  aggregate  market value of the voting shares held by  nonaffiliates  of the
Registrant was  $66,208,545 as of June 30, 2002.  Solely for the purpose of this
computation,  it has been assumed that  executive  officers and directors of the
Registrant are affiliates.
FIRST BANKING CENTER, INC AND SUBSIDIARY
                                      INDEX
                                 March 31, 2003

Part I   Financial Information

         Item 1     Consolidated Financial Statements

                    Unaudited Consolidated Balance Sheets,
                    March 31, 2003 and December 31, 2002

                    Unaudited Consolidated Statements of Income, For the three
                    months ended March 31, 2003 and 2002

                    Unaudited Consolidated Statements of Cash Flows, For the
                    three months ended March 31, 2003 and 2002

                    Notes to Unaudited Consolidated Financial Statements

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

         Item 3     Quantitative and Qualitative Disclosures about Market Risk

         Item 4     Controls and Procedures

Part II  Other Information

         Item 1     Legal Proceedings

         Item 2     Changes in Securities and Use of Proceeds

         Item 3     Defaults upon Senior Securities

         Item 4     Submission of Matters to a Vote of Security Holders

         Item 5     Other Information

         Item 6     Exhibits and Reports on Form 8-K

         Signatures
PART I. FINANCIAL INFORMATION
Item 1. Consolidated Financial Statements

                     FIRST BANKING CENTER, INC. AND SUBSIDIARY
                       UNAUDITED CONSOLIDATED BALANCE SHEETS
March 31,   December 31,
ASSETS                                                                 2003          2002
                                                                   --------------------------
                                                                     (Dollars in thousands)
Cash and due from banks                                          $   16,835     $  22,203
  Federal funds sold                                                    6,093        11,058
  Interest-bearing deposits in banks                                      212           441
  Available for sale securities                                        85,721        87,630
  Loans, less allowance for loan losses of $5,038
   and $4,988 in 2003 and 2002, respectively                          363,306       367,156
  Office buildings and equipment, net                                  10,933        10,576
  FHLB Stock                                                           10,762        10,488
  Other assets                                                          8,346         8,605
                                                                   --------------------------
      TOTAL ASSETS                                                 $  502,208    $  518,157
                                                                   ==========================
LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities
  Deposits
    Demand                                                         $   65,178     $  72,957
    Savings and NOW accounts                                          162,969       174,431
    Time                                                              148,101       146,413
                                                                   --------------------------
      Total Deposits                                                  376,248       393,801
    Short-term borrowings                                              22,687        25,077
    Other borrowings                                                   46,337        46,755
    Other liabilities                                                   6,888         3,804
                                                                   --------------------------
      TOTAL LIABILITIES                                            $  452,160    $  469,437
                                                                   --------------------------
STOCKHOLDERS' EQUITY
  Common Stock, $1.00 par value 3,000,000 shares authorized;
   1,495,062 and 1,494,029 shares issued; 1,494,759 and
   1,494,029 shares outstanding as of March 31, 2003 and
   December 31, 2002, respectively                                      1,495         1,494
  Surplus                                                               4,414         4,375
  Retained Earnings                                                    42,675        41,287
  Accumulated other comprehensive income                                1,477         1,564
  Common stock in treasury, at cost-303 and 0 shares
   as of March 31, 2003 and December 31, 2002, respectively               (13)           -

                                                                   --------------------------
      TOTAL STOCKHOLDERS' EQUITY                                    $   50,048    $  48,720
                                                                   --------------------------
      TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                    $  502,208    $ 518,157
                                                                   ==========================

                  "See accompanying notes to financial statements"
FIRST BANKING CENTER, INC. AND SUBSIDIARY
                 UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
Three months ended
                                                                  March 31,
                                                              2003          2002
                                                           ------------------------
                                                           (Dollars in thousands,
                                                            except per share data)
INTEREST INCOME
  Interest and fees on loans                               $   5,918    $   6,373
  Interest and dividends on securities:
    Taxable                                                      482          276
    Non-taxable                                                  425          392
  Interest on federal funds sold                                  38           33
  Interest on interest-bearing deposits in banks                  34           17
                                                           ------------------------
      TOTAL INTEREST INCOME                                    6,897        7,091
                                                           ------------------------
INTEREST EXPENSE
  Interest on deposits                                         1,462        1,722
  Interest on short-term borrowings                               72          122
  Interest on other borrowings                                   460          402
                                                           ------------------------
      TOTAL INTEREST EXPENSE                                   1,994        2,246
                                                           ------------------------
      NET INTEREST INCOME                                      4,903        4,845
  Provision for loan losses                                       90           90
                                                           ------------------------
      NET INTEREST INCOME AFTER PROVISION FOR
        LOAN LOSSES                                            4,813        4,755
                                                           ------------------------

NON-INTEREST INCOME
  Trust fees                                                    119           138
  Service charges on deposit accounts                           465           433
  Investment securities gains                                    41           130
  Automated teller machines                                      85            76
  Other                                                         171           193
                                                           ------------------------
      TOTAL NON-INTEREST INCOME                                 881           970
                                                           ------------------------
NON-INTEREST EXPENSE
  Salary and employee benefits                                2,198         2,106
  Occupancy                                                     284           242
  Equipment                                                     341           374
  Data Processing services                                      245           231
  Stationary and office supplies                                 94            70
  Other                                                         654           541
                                                           ------------------------
      TOTAL NON-INTEREST EXPENSE                              3,816         3,564
                                                           ------------------------
      INCOME BEFORE INCOME TAXES                              1,878         2,161
  Income taxes                                                  490           570
                                                           ------------------------
        NET INCOME                                         $  1,388      $  1,591
                                                           ========================
        Basic earnings per share                           $   0.93      $   1.08
        Diluted earnings per share                         $   0.91      $   1.06

                     "See accompanying notes to financial statements"
FIRST BANKING CENTER, INC. AND SUBSIDIARY
                     UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
Three months ended
                                                                  March 31,
                                                             2003           2002
                                                           ------------------------
                                                            (Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                                               $    1,388  $    1,591
  Adjustments to reconcile net income to net cash
   provided by (used in) operating activities:
    Depreciation                                                  223         212
    Provision for loan losses                                      90          90
    Amortization of premiums and accretion of discounts
      on securities, net                                           70          23
    Amortization                                                   26          25
    Investment securities gains                                   (41)       (130)
    Tax benefit of nonqualified stock options exercised             -           3
    Decrease (Increase) in other assets                             4         (17)
                                                            -----------------------
    Increase in other liabilities                               3,084         591
       Net cash provided by operations before loan
        originations and sales                                  4,844       2,388
    Loans originated for sale                                 (11,447)     (4,880)
                                                            -----------------------
    Proceeds from sale of loans                                14,106       8,970
                                                            -----------------------
        NET CASH PROVIDED BY OPERATING ACTIVITIES               7,503       6,478

CASH FLOWS FROM INVESTING ACTIVITIES:
    Net increase in interest-bearing deposits in banks            229          79
    Net decrease (increase) in federal funds sold               4,965      (2,225)
    Proceeds from maturities and calls of available for
      sale securities                                          34,748      28,825
    Purchase of available for sale securities                 (33,000)    (25,747)
    Net increase in loans                                       1,101       7,607
                                                            -----------------------
    Purchase of office buildings and equipment, net              (580)       (136)
                                                            -----------------------
        NET CASH PROVIDED BY INVESTING ACTIVITIES               7,463       8,403

CASH FLOWS FROM FINANCING ACTIVITIES:
    Net increase in deposits                                  (17,553)     (5,709)
    Proceeds from other borrowings                                  -       1,000
    Payments on other borrowings                                 (418)    (13,017)
    Net (decrease) in short term borrowings                    (2,390)     (6,024)
    Sale of common stock                                           40           -
    Purchase of treasury stock                                    (32)         (8)
                                                            -----------------------
    Sale of treasury stock for the exercise of
      stock options                                                19          36
                                                            -----------------------
        NET CASH USED IN FINANCING ACTIVITIES                 (20,334)    (23,722)

    NET DECREASE IN CASH AND DUE FROM BANKS                    (5,368)     (8,841)
                                                            -----------------------
CASH AND DUE FROM BANKS:

    Beginning                                                  22,203      20,735

    Ending                                                  $  16,835   $  11,894
                                                            =======================
Supplemental Disclosures of Cash Flow Information,
  Cash Paid During the Year for:

    Interest                                                $   2,103   $   2,233
    Income taxes                                            $     (79)  $      (6)

Supplemental Schedule of Noncash Investing Activities,
  Change in Accumulated Other Comprehensive Income,
    Unrealized Gain on Available-for-Sale Securities, Net   $     (87)  $    (125)

                    "See accompanying notes to financial statements"
FIRST BANKING CENTER, INC AND SUBSIDIARY
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                                  March 31,2003

NOTE 1 - Basis of Presentation

The unaudited  consolidated  financial  statements include the accounts of First
Banking  Center,  Inc. and its  subsidiary  (the  "Company").  In the opinion of
management,  all adjustments  (consisting only of normal recurring  adjustments)
necessary  for a  fair  presentation  of  the  financial  position,  results  of
operation and cash flows for the interim  periods have been made. The results of
operations  for the  three  months  ended  March  31,  2003 are not  necessarily
indicative of the results to be expected for the entire fiscal year.

The unaudited interim financial statements have been prepared in conformity with
accounting  principles  generally  accepted in the United  States of America and
industry practice.  Certain information in footnote disclosure normally included
in  financial  statements  prepared in  accordance  with  accounting  principles
generally  accepted in the United  States of America and  industry  practice has
been  condensed or omitted  pursuant to rules and  regulations of the Securities
and  Exchange   Commission.   These  financial  statements  should  be  read  in
conjunction  with  the  consolidated  financial  statements  and  notes  thereto
included in the Company's December 31, 2002 audited financial statements.

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America requires  management to make
estimates  and  assumptions  which  affect  the  reported  amounts of assets and
liabilities  and disclosure of contingent  assets and liabilities as of the date
of the  financial  statements,  as well as the  reported  amounts  of income and
expenses  during the reported  periods.  Actual  results could differ from those
estimates.

NOTE 2 - Earnings Per Share

The following information calculates the computation of earnings per share on a basic and diluted basis.
Three Months Ended
                                                                                     March 31,
                                                                               2003            2002
                                                                          --------------------------------
                                                                           (Dollars in thousands, except
                                                                                  per share data)
Basic
Net income                                                                   $  1,388         $  1,591
Weighted average shares outstanding                                             1,495            1,474
Basic earnings per share                                                     $   0.93         $   1.08
                                                                          ================================

Diluted
Net income                                                                   $  1,388         $  1,591
Weighted average shares outstanding                                             1,495            1,474
Effect of dilutive stock options outstanding                                       30               31
                                                                          --------------------------------
Diluted weighted average shares outstanding
                                                                                1,525            1,505
Diluted earnings per share                                                   $   0.91         $   1.06
                                                                          ================================
NOTE 3 - Comprehensive Income

The following table presents our comprehensive income.
Three Months Ended
                                                                                     March 31,
                                                                               2003            2002
                                                                          --------------------------------
                                                                                (Dollars in thousands)
Net income                                                                   $  1,388         $  1,591
Other comprehensive income
  Net change in unrealized gain on available for sale securities                  (87)            (125)
                                                                          --------------------------------
Total comprehensive income                                                   $  1,301         $  1,466
                                                                          ================================
NOTE 4 - Stock-based Compensation Plan:

For the  three  months  ended  March  31,  2003 and 2002,  the  Company  had one
stock-based key officer and employee compensation plan. The Company accounts for
this plan under the recognitions  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 the  income,  as all
options  granted  under those  plans had an  exercise  price equal to the market
value of the underlying  common stock on the date of grant.  The following table
illustrates  the effect on net income and  earnings per share if the Company had
applied the fair value recognition  provisions of Financial Accounting Standards
Board (FASB)  Statement No. 123,  Accounting for  Stock-Based  Compensation,  to
stock-based employee compensation.
Quarter Ended
                                                                            March 31,        March 31,
                                                                               2003            2002
                                                                       ----------------------------------
                                                                          (Amounts in thousands, except
                                                                               for per share data)
Net income, as reported                                                      $  1,388         $  1,591
Deduct total stock-based employee
compensation expense determined
under fair value based method for all
awards, net of related tax effects                                               (201)            (239)
                                                                        ----------------------------------

Pro forma net income                                                         $  1,187         $  1,352
                                                                        ==================================

Earnings per share:
Basic:
As reported                                                                  $   0.93         $   1.08
Pro forma                                                                        0.79             0.92
Diluted:
As reported                                                                  $   0.91         $   1.06
Pro forma                                                                        0.78             0.90
In  determining  compensation  cost using the fair value  method  prescribed  in
Statement  No. 123,  the value of each grant is estimated at the grant date with
the following weighted-average assumptions used for grants on March 31, 2002 and
2001,  respectively:  dividend  yield of 1.5 percent and 1.7  percent;  expected
price  volatility  of 5.2 percent and 5.2 percent,  blended  risk-free  interest
rates  of  4.3  percent  and  4.3  percent;  and  expected  lives  of 10  years,
respectively.
Note 5 - Commitments and Contingencies

In the normal  course of  business,  the Company is  involved  in various  legal
proceedings.  In the opinion of  management,  any liability  resulting from such
proceedings  would  not  have a  material  adverse  effect  on the  consolidated
financial statements.

The Company is party to financial instruments with off-balance-sheet risk in the
normal course of business to meet the financing  needs of its  customers.  These
financial   instruments   include   commitments  to  extend  credit,   financial
guarantees,  and standby letters of credit.  They involve,  to varying  degrees,
elements  of credit  risk in excess of amounts  recognized  on the  consolidated
balance sheets.

The  Company's  exposure  to credit loss in the event of  nonperformance  by the
other party to the financial  instrument  for  commitments  to extend credit and
standby letters of credit is represented by the  contractual  notional amount of
those  instruments.  The  Company  uses  the  same  credit  policies  in  making
commitments  and  issuing  letters  of  credit  as they do for  on-balance-sheet
instruments.

A summary of the contract or notional amount of the Company's exposure to
off-balance-sheet risk as of March 31 is as follows:
2003             2002
                                              -------------------------------
                                                  (Amounts in thousands)
Financial instruments whose contract
  amounts represent credit risk:
    Commitments to extend credit                   $ 67,402         $ 67,414
    Standby letters of credit                         2,908            6,291
Commitments  to extend  credit are  agreements  to lend to a customer as long as
there is no violation of any condition established in the contract.  Commitments
generally  have fixed  expiration  dates or other  termination  clauses  and may
require  payment of a fee. Since many of the  commitments are expected to expire
without  being  drawn  upon,  the total  commitment  amounts do not  necessarily
represent  future cash  requirements.  Standby letters of credit are conditional
commitments  issued to guarantee the performance of a customer to a third-party.
Those  guarantees are primarily  issued to support public and private  borrowing
arrangements.  The  credit  risk  involved  in  issuing  letters  of  credit  is
essentially the same as that involved in extending loan facilities to customers.
The Company evaluates each customer's credit worthiness on a case-by-case basis.
The amount of  collateral  obtained,  if deemed  necessary  by the Company  upon
extension  of  credit,  is  based  on  management's  credit  evaluation  of  the
counterparty.  Collateral  held  varies  but may  include  accounts  receivable,
inventory,  property and equipment, and income-producing  commercial properties.
Credit card commitments are unsecured.

Standby  letters of credit  are  conditional  commitments  issued by the Bank to
guarantee the performance of a customer to a third-party.  Those  guarantees are
primarily  issued to support  public and  private  borrowing  arrangements  and,
generally,  have terms of one year or less.  The credit risk involved in issuing
letters of credit is  essentially  the same as that  involved in extending  loan
facilities to customers.  The Bank holds collateral,  which may include accounts
receivable,  inventory,  property,  equipment, and income-producing  properties,
supporting those commitments if deemed necessary. In the event the customer does
not perform in accordance with the terms of the agreement with the  third-party,
the Bank would be required to fund the commitment.  The maximum potential amount
of future  payments  the Bank could be  required to make is  represented  by the
contractual  amount shown in the summary on the previous page. If the commitment
is funded the Bank would be  entitled to seek  recovery  from the  customer.  At
March 31, 2003 and 2002,  no amounts have been recorded as  liabilities  for the
Bank's potential obligations under these guarantees.
Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

                    FIRST BANKING CENTER, INC AND SUBSIDIARY
                       MANAGEMENTS DISCUSSION AND ANALYSIS
                OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                              As of March 31, 2003

The following discussion provides additional analysis of the financial condition
and results of  operations  of the Company for the three  months ended March 31,
2003.  This  discussion  focuses on the  significant  factors that  affected the
Company's  earnings so far in 2003,  with  comparisons  to 2002. As of March 31,
2003,  First Banking  Center (the "Bank") was the only direct  subsidiary of the
Company and its operations  contributed  nearly all of the revenue for the year.
The Company provides various support functions for the Bank and receives payment
from the Bank for these services. These intercompany payments are eliminated for
the purpose of these consolidated financial statements.  The Bank has two wholly
owned  subsidiaries,  FBC Financial  Services,  Corp., a brokerage and financial
services subsidiary, and FBC-Burlington,  Inc., an investment subsidiary located
in Nevada.

Overview

As of March 31, 2003,  total Company assets were $502.2 million  decreasing 3.1%
from $518.1 million as of December 31, 2002. Total income,  for the three months
ended March 31, 2003, was $1.4 million or $.93 per share,  decreasing 12.8% from
$1.6 million or $1.08 per share in 2002. The significant  items resulting in the
above-mentioned results are discussed below.

Financial Condition

Loans

Loans  outstanding  were $368.3 million and $372.1 million on March 31, 2003 and
December 31, 2002  respectively.  This  represents a decrease of $3.8 million or
1.0%.  The  following  table  summarizes  the  changes to date in the major loan
classifications.
As a % of Total Loans
                                          March 31,     December 31,   Change in        March 31,     December 31,
                                            2003            2002        Balance            2003           2002
                                         -----------------------------------------     ------------------------------
                                                 (Dollars in millions)
Residential Real Estate                        $167.4          $163.9       $3.5               45.5%          44.0%
Commercial Real Estate                          $92.7           $91.8       $0.9               25.2%          24.7%
Construction and Land Development               $38.1           $42.4     ($4.3)               10.3%          11.4%
Commercial                                      $23.9           $26.2     ($2.3)                6.5%           7.0%
Agricultural                                    $19.0           $18.7       $0.3                5.2%           5.0%
Allowance for Loan Losses

The  allowance  for possible loan losses was $5.0 million or 1.4% of gross loans
on March  31,  2003,  compared  with  $5.0  million  or 1.34% of gross  loans on
December 31, 2002. Net  charge-offs  for the last three months were $40 thousand
or .01% of gross loans,  compared to net charge-offs of $441 thousand or .12% of
gross loans for the year ended December 31, 2002.

The allowance for loan losses is established through a provision for loan losses
charged to expense. Loans are charged against the allowance for loan losses when
management  believes that the  collectibility of the principal is unlikely.  The
allowance for loan losses is adequate to cover probable  credit losses  relating
to specifically  identified loans, as well as probable credit losses inherent in
the balance of the loan portfolio. In accordance with FASB Statements 5 and 114,
the  allowance is provided for losses that have been  incurred as of the balance
sheet  date.  The  allowance  is  based  on past  events  and  current  economic
conditions,  and does not include  the  effects of  expected  losses on specific
loans or groups of loans that are related to future  events or expected  changes
in economic  conditions.  Management  reviews a calculation of the allowance for
loan losses on a quarterly  basis.  While  management uses the best  information
available to make its  evaluation,  future  adjustments  to the allowance may be
necessary  if there are  significant  changes in economic  conditions.  Impaired
loans are  measured  based on the present  value of  expected  future cash flows
discounted at the loan's effective  interest rate or, as a practical  expedient,
at the loan's observable market price or the fair value of the collateral if the
loan is collateral dependent. A loan is impaired when it is probable the company
will be unable to collect all contractual principal and interest payments due in
accordance with the terms of the loan agreement.
In addition,  various regulatory agencies  periodically review the allowance for
loan  losses.  These  agencies  may  require the bank to make  additions  to the
allowance for loan losses based on their  judgments of  collectibility  based on
information available to them at the time of their examination.

For the three months ending March 31, 2003,  $90 thousand was charged to current
earnings and added to the allowance for loan losses.

Non-accrual, Past Due and Renegotiated Loans
March 31,       December 31,
                                                                         2003             2002
                                                                   ----------------------------------
                                                                        (Dollars in thousands)
Non-accrual Loans (a)                                                   $7,493           $2,016
Past Due 90 days + (b)                                                       0                0
Restructured Loans                                                           0                0
The policy of the Company is to place a loan on non-accrual status if:

(a)  payment in full of interest and principal is not expected, or

(b)  principal  or interest  has been in default for a period of 90 days or more
     unless  the  obligation  is both in the  process  of  collection  and  well
     secured. Well secured is defined as collateral with sufficient market value
     to repay  principal and all accrued  interest.  A debt is in the process of
     collection  if  collection  of the debt is  proceeding in due course either
     through legal action,  including judgement  enforcement  procedures,  or in
     appropriate  circumstances,  through collection efforts not involving legal
     action which are reasonably  expected to result in repayment of the debt or
     in its restoration to current status.

The  non-accrual  loans  consisted  primarily of $5.7 million of commercial real
estate loans, $1.5 million of residential real estate loans and $163 thousand of
commercial  loans.  On March 31,  2003,  the ratio of  non-accrual  loans to the
allowance for loan losses was 148.7% compared to 40.4% on December 31, 2002. The
5.7 million of  non-accrual  commercial  loans  consists  primarily of two loans
which are in the process of collection.  The company believes it has an adequate
allowance for any anticipated losses for these loans.

As of March 31, 2003,  the Company had loans  totaling $15.6 million in addition
to those listed as non-accrual, past due or renegotiated that were identified by
the Banks'  internal asset rating  systems as classified  assets and loans which
management has  determined  require  additional  monitoring.  This  represents a
decrease of $8.5  million or 35.4% from  December 31,  2002.  Management  is not
aware of any significant loans, group of loans or segments of the loan portfolio
not included above,  where full  collectibility  cannot  reasonably be expected.
Management  has  committed  resources  and is  focusing  on efforts  designed to
control the amount of classified assets. The company does not have a substantial
portion of its loans  concentrated  in one or a few  industries nor does it have
any foreign loans  outstanding  as of March 31, 2003.  The  company's  loans are
concentrated  geographically  in the  Wisconsin  counties  of Racine,  Walworth,
Kenosha, Lafayette and Green.

Investments securities - Available for Sale

For the purposes of this discussion,  investment  security balances are based on
amortized  costs.  The securities  available-for-sale  portfolio  decreased $1.8
million or 2.1% from  December 31, 2002.  The decrease  came from three areas of
the portfolio. The company purchased $4.5 million of mortgage-backed securities,
$3.0 million of  Commercial  Paper and $26.0 million of U.S.  Government  Agency
Discount  Notes.  The company had $590  thousand of municipal  securities,  $2.1
million of Commercial Paper and CDs, and $28.0 million of U.S. Government Agency
Discount Notes mature.  There were $295 thousand of municipal  securities called
and $466 thousand of agency securities called by various Government Agencies.
Deposits and Borrowed Funds

Total deposits and borrowed funds were $445.3 million on March 31, 2003 compared
to $465.6  million on December 31, 2002.  This is a decrease of $20.3 million or
4.4%.  The decrease is due to  decreased  demand  deposits  and savings.  Demand
deposits and savings  deposits  decrease $7.8 million or 10.7 % and $8.1 or 5.6%
respectively.   The  following  table   summarizes  the  changes  in  the  major
classifications of deposits and borrowed funds.
March 31,         December 31,                  Change in
                                                               2003               2002                       Balance
                                                        --------------------------------------              -----------
                                                                (Dollars in millions)
Money Market and Savings                                       $136.7             $144.8                      ($8.1)
Demand  Deposits                                                $65.2              $73.0                      ($7.8)
Time Deposits less than $100,000                                $88.2              $90.2                      ($2.0)
Time Deposits equal or greater than $100,000                    $60.0              $56.2                       $3.8
Securities sold under agreement to repurchase                   $22.6              $25.0                      ($2.4)
Federal Home Loan Borrowings                                    $46.3              $46.8                      ($0.5)
Capital resources

As of March 31, 2003, the Company's  stockholders' equity increased $1.3 million
or 2.73%.  Net income of $1.4 million was the primary reason for the increase in
equity.  The company  purchased $13 thousand of treasury  stock during the first
three months of 2003.  Accumulated  other  comprehensive  income  decreased  $87
thousand from $1.6 million to $1.5 million.

In December 1990,  the Federal  Reserve  Board's  risk-based  guidelines  became
effective.  Under these  guidelines  capital is measured  against the  Company's
subsidiary  bank's  risk-weighted  assets.  The Company's tier 1 capital (common
stockholders'  equity less goodwill) to risk-weighted  assets was 13.0% at March
31, 2003,  well above the 4% minimum  required.  Total capital to  risk-adjusted
assets was 14.2%, also well above the 8% minimum requirement. The leverage ratio
was at 9.5%  compared to the 4% minimum  requirement.  According to FDIC capital
guidelines,   the   Company's   subsidiary   bank  is  considered  to  be  "well
capitalized."

Asset/liability management

The principal  function of  asset/liability  management is to manage the balance
sheet mix,  maturities,  repricing  characteristics  and pricing  components  to
provide an adequate and stable net interest  margin with an acceptable  level of
risk over time and through interest rate cycles.

Interest-sensitive  assets  and  liabilities  are  those  that  are  subject  to
repricing   within  a  specific   relevant  time  horizon.   The  Bank  measures
interest-sensitive  assets and  liabilities,  and their  relationship  with each
other at terms of immediate, quarterly intervals up to 1 year, and over 1 year.

Changes in net interest income,  other than volume related,  arise when interest
rates on assets  reprice in a time frame or interest  rate  environment  that is
different  from the repricing  period for  liabilities.  Changes in net interest
income  also  arise  from  changes  in the mix of  interest  earning  assets and
interest-bearing liabilities.

The Bank's  strategy with respect to  asset/liability  management is to maximize
net  interest  income  while  limiting  its  exposure  to a  potential  downward
movement.  Strategy is implemented by the Bank's management,  which takes action
based upon its analysis of the Bank's  present  positioning,  its desired future
positioning,  economic  forecasts,  and its goals.  It is the  Bank's  desire to
maintain a cumulative GAP of positive or negative 15% of rate  sensitive  assets
at the 1-year time frame.  The current  percentage  is a positive  21.1%,  which
compares to a positive 20% as of December 31,  2002.  Although  these ratios are
outside the Bank's  target  range,  the Bank's  management  feels the ratios are
appropriate  at this time due to  management's  projection  for future  interest
rates.
Liquidity

Liquidity  measures  the  ability  of  First  Banking  Center  to meet  maturing
obligations and its existing commitments,  to withstand  fluctuations in deposit
levels, to fund its operations,  and to provide for customers' credit needs. One
source of  liquidity is cash and  short-term  assets,  such as  interest-bearing
deposits in other banks and federal  funds sold,  which totaled $23.1 million at
March 31, 2003, compared with $33.7 million at December 31, 2002. The Bank has a
variety of sources of short-term  liquidity  available to it, including  federal
funds  purchased from  correspondent  banks,  sales of securities  available for
sale, FHLB advances,  lines of credit and loan  participations  or sales.  First
Banking Center also generates  liquidity from the regular principal payments and
prepayments made on its portfolio of loans and mortgage-backed securities.

The   liquidity  of  First   Banking   Center  is  comprised  of  three  primary
classifications: cash flows from operating activities, cash flows from investing
activities,  and cash flows from  financing  activities.  Net cash  provided  by
operating activities was $7.5 million. Net cash provided by investing activities
was $7.5 million.  Net cash used in financing  activities was $20.3 million, for
the three months ended March 31, 2003.

For the three  months  ending  March 31,  2002,  net cash  provided by operating
activities was $6.5 million.  Net cash provided by investing activities was $8.4
million. Net cash used in financing activities was $23.7 million.

Impact of Inflation and Changing Prices

The  consolidated  financial  statements  and the  accompanying  notes have been
prepared in accordance  with  accounting  principles  generally  accepted in the
United States of America,  which require the  measurement of financial  position
and operating results in terms of historical dollar amounts without  considering
the  changes  in the  relative  purchasing  power  of  money  over  time  due to
inflation.  The impact of inflation is reflected in the increased  cost of First
Banking Center's  operations.  Unlike  industrial  companies,  nearly all of the
assets and  liabilities  of First  Banking  Center are monetary in nature.  As a
result,  interest  rates  have  a  greater  impact  on  First  Banking  Center's
performance  than do the effects of general levels of inflation.  Interest rates
do not necessarily move in the same direction or to the same extent as the price
of goods and services.

Forward Looking  Statements- Safe Harbor Statement under the Private  Securities
Litigation Reform Act of 1995

This report contains certain  forward-looking  statements  within the meaning of
Section  27A of the  Securities  Act of 1933,  as amended and Section 21E of the
Securities  Exchange Act of 1934, as amended.  First Banking Center intends such
forward-looking  statements  to be covered  by the safe  harbor  provisions  for
forward-looking  statements  contained in the Private  Securities  Reform Act of
1995,  and is  including  this  statement  for  purposes  of these  safe  harbor
provisions.  Forward-looking statements,  which are based on certain assumptions
and describe First Banking  Center's future plans,  strategies and  expectations
are generally  identifiable by use of the words "believe,"  "expect,"  "intend,"
"anticipate,"  "estimate,"  "project"  or  similar  expressions.  First  Banking
Center's  ability to predict  results  or the actual  effect of future  plans or
strategies is inherently uncertain.  Factors which could have a material adverse
affect on First Banking Center's  operations and future prospects  include,  but
are not limited to, changes in: interest  rates,  general  economic  conditions,
legislative/regulatory  changes,  monetary  and  fiscal  policies  of  the  U.S.
Government,  including  policies of the U.S.  Treasury  and the Federal  Reserve
Board, the quality or composition of the loan or investment  portfolios,  demand
for loan products, deposit flows, competition,  demand for financial services in
our market area, our implementation of new technologies,  First Banking Center's
ability to develop  and  maintain  secure and  reliable  electronic  systems and
accounting  principles,  policies and guidelines.  These risks and uncertainties
should be considered in evaluating forward-looking statements and undue reliance
should not be placed on such statements.
Current Accounting Developments

The Financial Accounting Standards Board has issued Statement 149, "Amendment of
Statement 133 on Derivative Instruments and Hedging".  This Statement amends and
clarifies  financial  accounting  and  reporting  for  derivative   instruments,
including certain derivative  instruments  embedded in other contracts,  and for
hedging activities under Statement 133. The Statement is effective for contracts
entered  into or  modified  after June 30,  2003 and for  hedging  relationships
designated after June 30, 2003.  Implementation of the Statement is not expected
to have a material impact on the financial statements.

Results of operations

Net Interest Income

Net interest income is the difference  between interest income and fees on loans
and interest expense,  and is the largest  contributing factor to net income for
the  Company.  All  discussions  of rate are on a  tax-equivalent  basis,  which
accounts for income earned on nontaxable loans and securities that are not fully
subject to federal  taxes.  Net interest  income was $5.1 million March 31, 2003
and 2002.  Net  interest  margin  as a  percentage  of  average  earning  assets
(includes  loans placed on nonaccrual  status) was 4.27% and 4.76% for the three
months ended March 2003 and 2002.

The major component of interest income and fees on loans is the income generated
by loans.  Interest income and fees on loans decreased due to decreased rates on
increasing average balances. The rates earned decreased from 7.15% to 6.45%.

As of March 31, 2003 average balances outstanding increased, however, rates paid
for  liabilities  decreased  causing a decrease in interest  expense.  The major
components  of interest  expense are interest  paid on  Certificates  of Deposit
(Time Deposits) and on Money Market Deposits.  Interest expense on Time Deposits
decreased due to decreased rates paid on increasing average balances.  The rates
paid  decreased  from 3.0% to 2.4%, for the months ended March 31, 2003 and 2002
respectively. Interest expense on Money Market Deposits decreased as a result of
decreased average balances. The rates paid decreased from 1.41% to .78%, for the
three months ended March 31, 2003 and 2002 respectively.

The  following  table  summarizes  the  changes  and  reasons for the changes in
interest earned and paid during the three months ended March 2003 and 2002.
Three months ended
                                                                             March 31,
                                                  2003                                 2002
                                               ----------- ---------- ----------    ----------- ---------- ----------
                                                           Interest    Average                  Interest    Average
                                                Average     Earned      Yield        Average     Earned      Yield
                                                Balance     or Paid    or Cost       Balance     or Paid    or Cost
                                               ----------- ---------- ----------    ----------- ---------- ----------
                                                                      (Dollars in thousands)
Interest Income:
  Interest and fees on loans (a)            $     367,724      5,929      6.45%        357,585      6,392      7.15%
  Interest and dividends on securities:
      Taxable                                      58,858        482      3.28%         22,224        276      4.97%
      Nontaxable (a)                               36,531        644      7.05%         33,118        594      7.17%
  Interest on Fed funds sold                       13,368         38      1.14%          8,824         33      1.50%
  Interest on interest-bearing deposits in
   banks                                            4,706         34      2.89%          3,891         17      1.75%
                                               ----------- ---------- ----------    ----------- ---------- ----------
       Total Interest Income                $     481,187      7,127      5.92%        425,642      7,312      6.87%
                                               =========== ========== ==========    =========== ========== ==========

Interest Expense
  Interest on deposits                      $     316,691      1,462      1.85%        292,642      1,722      2.35%
  Interest on short-term borrowings                26,052         72      1.11%         24,397        132      2.16%
  Interest on other borrowings                     45,985        460      4.00%         35,509        392      4.42%
                                               ----------- ---------- ----------    ----------- ---------- ----------
       Total Interest Expense               $     388,728      1,994      2.05%        352,548      2,246      2.55%
                                               =========== ========== ==========    =========== ========== ==========

Net interest margin                                     $      5,133      4.27%              $      5,066      4.76%
                                                           ========== ==========                ========== ==========
(a)  The interest and average yield for nontaxable loans and investments are presented on a federal taxable basis
     assuming a 34% tax rate.
Non-interest income

Non-interest  income  decreased  $89 thousand or 9.2% as of March 31, 2003.  The
decrease was a result of a decline in brokerage annuity sales.

Non-interest expense

Non-interest  expense  increased  $252  thousand  or 7.1% as of March 31,  2003.
Salaries and benefits  accounted for $92 thousand.  The increase in salaries and
benefits is due to normal wage increases and increased  health  insurance costs.
Occupancy  expense  increased  $42 thousand  due  primarily to increases in real
estate  taxes,  depreciation  and  utilities.   Other  expenses  increased  $113
thousand.

Critical Accounting Policies

Income Taxes

See Note 1 of the notes to our audited consolidated financial statements for the
year ended  December 31, 2002 for our income tax accounting  policy.  Income tax
expense recorded in the consolidated  income statement  involves  interpretation
and application of certain  accounting  pronouncements and federal and state tax
codes, and is, therefore,  considered a critical  accounting  policy. We undergo
examinations by various regulatory taxing authorities. Such agencies may require
that changes in the amount of tax expense or valuation  allowance be  recognized
when  their  interpretations  differ  from those of  management,  based on their
judgments about information available to them at the time of their examinations.
See Note 11 of the notes to our audited  consolidated  financial  statements for
the year ended December 31, 2002 for more income tax information.

Allowance for Loan Losses

Management  believes the allowance for loan losses accounting policy is critical
to the portrayal  and  understanding  of our financial  condition and results of
operations.  As such,  selection and  application of this  "critical  accounting
policy" involves judgments, estimates, and uncertainties that are susceptible to
change.  In the event that different  assumptions or conditions were to prevail,
and depending upon the severity of such changes,  the  possibility of materially
different   financial  condition  or  results  or  operations  is  a  reasonable
likelihood.

Item 3.  Quantitative and Qualitative Disclosures about Market Risk

First Banking Center,  like other financial  institutions,  is subject to direct
and  indirect  market risk.  Direct  market risk exists from changes in interest
rates.  First  Banking  Center's  net income is  dependent  on its net  interest
income.  Net interest  income is susceptible to interest rate risk to the degree
that  interest-bearing  liabilities  mature or reprice on a different basis than
interest-earning  assets.  When  interest-bearing  liabilities mature or reprice
more quickly  than  interest-earning  assets in a given  period,  a  significant
increase in market rates of interest could adversely affect net interest income.

Similarly,  when  interest-earning  assets  mature or reprice  more quickly than
interest-bearing liabilities,  falling interest rates could result in a decrease
in net income.

In an attempt to manage its  exposure to changes in interest  rates,  management
monitors  First  Banking  Center's  interest  rate  risk.  The   Asset/Liability
Committee  meets quarterly to review First Banking  Center's  interest rate risk
position  and   profitability,   and  to  make  or  recommend   adjustments  for
consideration  by the Board of  Directors.  Management  also  reviews the Bank's
securities portfolio,  formulates investment strategies, and oversees the timing
and   implementation  of  transactions  to  assure  attainment  of  the  Board's
objectives in the most effective manner.  Notwithstanding First Banking Center's
interest rate risk management  activities,  the potential for changing  interest
rates is an uncertainty that can have an adverse effect on net income.

In adjusting  First Banking  Center's  asset/liability  position,  the Board and
management  attempt to manage First  Banking  Center's  interest rate risk while
maintaining or enhancing net interest margins. At times,  depending on the level
of general  interest rates, the  relationship  between  long-term and short-term
interest  rates,  market  conditions  and  competitive  factors,  the  Board and
management  may decide to increase  First  Banking  Center's  interest rate risk
position  somewhat in order to increase its net interest  margin.  First Banking
Center's  results of operations  and net portfolio  values remain  vulnerable to
increases  in  interest  rates and to  fluctuations  in the  difference  between
long-term and short-term interest rates.
One approach  used to quantify  interest  rate risk is the net  portfolio  value
("NPV") analysis.  In essence,  this analysis  calculates the difference between
the present  value of  liabilities  and the present value of expected cash flows
from assets and off-balance-sheet contracts. The most recent NPV analysis, as of
March  31,  2003,   projects  that  net  portfolio   value  would   decrease  by
approximately  5.75% if  interest  rates  would rise 200 basis  points and would
decrease by  approximately  2.77% if interest  rates would rise 100 basis points
over  the  next  year.  It  projects  an  increase  in net  portfolio  value  of
approximately  13.37% if  interest  rates  would  drop 200 basis  points  and an
increase of  approximately  8.53% if interest rates would drop 100 basis points.
Both simulations are within board-established policy limits. The Company has not
experienced any material  changes to its market risk position since December 31,
2002, as disclosed in the Company's 2002 Form 10K Annual  Report.  First Banking
Center's  policy is to limit the effect of a 200 basis  point rate shock to plus
or minus 20% of  projected  net  interest  income and to minus 35% of the market
value of portfolio equity.

First  Banking  Center does not  currently  engage in trading  activities or use
derivative   instruments  to  control  interest  rate  risk.  Even  though  such
activities may be permitted  with the approval of the Board of Directors,  First
Banking  Center does not intend to engage in such  activities  in the  immediate
future.

Interest rate risk is the most  significant  market risk affecting First Banking
Center.  Other types of market risk, such as foreign currency exchange rate risk
and  commodity  price risk,  do not arise in the normal  course of First Banking
Center's business activities.

Item 4.  Controls and Procedures

Within  the 90 days  prior  to the  date of this  report,  the  Company's  Chief
Executive  Officer and Chief Financial  Officer carried out an evaluation,  with
the participation of other members of management as they deemed appropriate,  of
the  effectiveness  of the  design and  operation  of the  Company's  disclosure
controls and procedures as contemplated by Exchange Act Rule 13a-14. Based upon,
and as of the date of that  evaluation,  the Chief  Executive  Officer and Chief
Financial  Officer  concluded  that  the  Company's   disclosure   controls  and
procedures are effective,  in all material respects,  in timely alerting them to
material information relating to the Company (and its consolidated subsidiaries)
required to be included in the periodic  reports the Company is required to file
and submit to the SEC under the Exchange Act.

There have been no significant  changes to the Company's internal controls or in
other factors that could  significantly  affect these controls subsequent to the
date that the internal  controls  were most  recently  evaluated.  There were no
significant  deficiencies or material  weaknesses  identified in that evaluation
and, therefore, no corrective actions were taken.
Part II-OTHER INFORMATION
Item 1.  Legal Proceedings

              None

Item 2.  Changes in Securities

             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

                  99.1  Certification of the Chief Executive Officer pursuant to
                        Section 906 of the Sarbanes-Oxley Act  of  2002 (exhibit
                        is being filed herewith).

                  99.2  Certification of the Chief Financial Officer pursuant to
                        Section 906 of the Sarbanes-Oxley Act  of 2002  (exhibit
                        is being filed herewith).

             (b)  Reports on Form 8-K

                  None
FIRST BANKING CENTER, INC AND SUBSIDIARIES

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1943, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                           First Banking Center, Inc.

May 15, 2003                        /s/ Brantly Chappell
Date                                ---------------------------
                                        Brantly Chappell
                                        Chief Executive Officer

May 15, 2003                        /s/ James Schuster
Date                                ---------------------------
                                        James Schuster
                                        Chief Financial Officer
CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

I, Brantly Chappel, Chief Executive Officer, certify that:

1) I have reviewed this quarterly  report on Form 10-Q of First Banking  Center,
Inc.;

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;

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  officers  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 we 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 function):

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 or not 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 15, 2003

        /s/ Brantly Chappell
        -----------------------
        Brantly Chappell
        Chief Executive Officer
CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

I, James Schuster, Chief Financial Officer, certify that:

1) I have reviewed this quarterly  report on Form 10-Q of First Banking  Center,
Inc.;

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;

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  officers  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 we 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 function):

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 or not 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 15, 2003

        /s/ James Schuster
        -----------------------
        James Schuster
        Chief Financial Officer
Exhibit 99.1

                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The  following  certification  is provided by the  undersigned  Chief  Executive
Officer of First Banking Center,  Inc. on the basis of such officer's  knowledge
and belief for the sole purpose of complying  with 18 U.S.C.  Section  1350,  as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

                                  CERTIFICATION

In connection  with the  Quarterly  Report of First  Banking  Center,  Inc. (the
"Company")  on Form 10-Q for the period  ended  March 31, 2003 as filed with the
Securities and Exchange  Commission on May 15, 2003 (the  "Report"),  I, Brantly
Chappell, Chief Executive Officer of the Company, hereby certify, pursuant to 18
U.S.C.  Section 1350, as adopted  pursuant to Section 906 of the  Sarbanes-Oxley
Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of
the Securities Exchange Act of 1934, as amended; and

(2) The  information  contained in the Report fairly  presents,  in all material
respects, the financial condition and results of operations of the Company.

        /s/Brantly Chappell
        ------------------------------
        Name:  Brantly Chappell
        Title: Chief Executive Officer
        Date:  May 15, 2003
Exhibit 99.2

                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The  following  certification  is provided by the  undersigned  Chief  Financial
Officer of First Banking Center,  Inc. on the basis of such officer's  knowledge
and belief for the sole purpose of complying  with 18 U.S.C.  Section  1350,  as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

                                  CERTIFICATION

In connection  with the  Quarterly  Report of First  Banking  Center,  Inc. (the
"Company")  on Form 10-Q for the period  ended  March 31, 2003 as filed with the
Securities  and Exchange  Commission  on May 15, 2003 (the  "Report"),  I, James
Schuster, Chief Financial Officer of the Company, hereby certify, pursuant to 18
U.S.C.  Section 1350, as adopted  pursuant to Section 906 of the  Sarbanes-Oxley
Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of
the Securities Exchange Act of 1934, as amended; and

(2) The  information  contained in the Report fairly  presents,  in all material
respects, the financial condition and results of operations of the Company.

        /s/James Schuster
        ------------------------------
        Name:  James Schuster
        Title: Chief Financial Officer
        Date:  May 15, 2003