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

                   ___________________________

                            FORM 10-Q/A
                   ___________________________

(Mark One)

[x]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended   September 30, 1996

                                or

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

For the transition period from ________________ to _______________

Commission File Number 0-20335

                    OSB Financial Corp.
     -----------------------------------------------------
     (Exact name of registrant as specified in its charter)

         Wisconsin                                39-1726499
- -------------------------------                -------------------
(State or other jurisdiction of                 (I.R.S. Employer
incorporation or organization)                 identification No.)

420 S. Koeller Street, Oshkosh, Wisconsin            54901  
- ---------------------------------------------       --------
(Address of principal executive offices)            Zip Code

Registrant's telephone number, including area code: (414) 236-3680
                                                    --------------

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 twelve (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 ninety (90) days.

                     Yes  __X__      No ____

As of October 31, 1996, there were 1,111,484 shares of the
Registrant's Common Stock, $.01 par value per share, issued and
outstanding.

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                            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.


                              OSB Financial Corp.


Date:   November 11, 1996   By:  /s/ James J. Rothenbach
                                -------------------------------------
                                James J. Rothenbach
                                President and Chief Executive Officer
                                (Duly Authorized Officer)

Date:   November 11, 1996   By:  /s/ David A. Hayford
                                -------------------------------------
                                David A. Hayford
                                Vice President - Finance
                                (Principal Accounting Officer)

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                           EXHIBIT INDEX
                           -------------

Exhibit 27               Financial Data Schedule
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