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

                             FORM 8-K


                          CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


         
                          AUGUST 7, 1997
          Date of Report (Date of earliest event reported)


                  HARRINGTON FINANCIAL GROUP, INC.
       (Exact name of registrant as specified in its charter)

                              INDIANA
          (State or other jurisdiction of incorporation)

        0-27940                            48-1050267
(Commission File Number)         (IRS Employer Identification No.)

             722 EAST MAIN STREET, RICHMOND, IN  47374
       (Address of principal executive offices)   (Zip Code)

                          (765) 962-8531
       (Registrant's telephone number, including area code)

                          NOT APPLICABLE
(Former name, former address and former fiscal year, if changed since last
report.)


<PAGE>

ITEM 5.   OTHER EVENTS

     On August  7,  1997, Harrington Financial Group, Inc. (the "Company"),
the holding company for  Harrington Bank, FSB, announced that the Company's
Board of Directors approved the repurchase of up to 162,000 shares, or five
percent, of the Company's  issued and outstanding common stock.  The shares
for this repurchase program  are  anticipated  to be purchased from time to
time  over  the  next  12  months and will be used partially  to  fund  the
Company's Employee Stock Ownership  Plan  for  the  fiscal  year 1998.  The
press  release  is  included  as  an exhibit hereto and is incorporated  by
reference herein.

ITEM 7.   FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

     (a)  Not applicable.

     (b)  Not Applicable.

     (c)  Exhibits:

           99(a) Press Release, dated August 7, 1997

<PAGE>
                            SIGNATURES

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

                         HARRINGTON FINANCIAL GROUP, INC.


Date:  August 13, 1997   By:  /S/CRAIG J. CERNY
                              Craig J. Cerny
                              President

Date:  August 13, 1997   By:  /S/CATHERINE A. HABSCHMIDT
                              Catherine A. Habschmidt
                              Chief Financial Officer and
                               Treasurer
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UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                      Washington, D.C.  20549

                             FORM 8-K

                          CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

         
                          AUGUST 7, 1997
          Date of Report (Date of earliest event reported)

                  HARRINGTON FINANCIAL GROUP, INC.
       (Exact name of registrant as specified in its charter)

                              INDIANA
          (State or other jurisdiction of incorporation)

        0-27940                            48-1050267
(Commission File Number)         (IRS Employer Identification No.)

             722 EAST MAIN STREET, RICHMOND, IN  47374
       (Address of principal executive offices)   (Zip Code)

                          (765) 962-8531
       (Registrant's telephone number, including area code)

                          NOT APPLICABLE
(Former name, former address and former fiscal year, if changed since last
report.)
ITEM 5.   OTHER EVENTS

     On August  7,  1997, Harrington Financial Group, Inc. (the "Company"),
the holding company for  Harrington Bank, FSB, announced that the Company's
Board of Directors approved the repurchase of up to 162,000 shares, or five
percent, of the Company's  issued and outstanding common stock.  The shares
for this repurchase program  are  anticipated  to be purchased from time to
time  over  the  next  12  months and will be used partially  to  fund  the
Company's Employee Stock Ownership  Plan  for  the  fiscal  year 1998.  The
press  release  is  included  as  an exhibit hereto and is incorporated  by
reference herein.

ITEM 7.   FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

     (a)  Not applicable.

     (b)  Not Applicable.

     (c)  Exhibits:

           99(a) Press Release, dated August 7, 1997
SIGNATURES

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

                         HARRINGTON FINANCIAL GROUP, INC.

Date:  August 13, 1997   By:  /S/CRAIG J. CERNY
                              Craig J. Cerny
                              President

Date:  August 13, 1997   By:  /S/CATHERINE A. HABSCHMIDT
                              Catherine A. Habschmidt
                              Chief Financial Officer and
                               Treasurer