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


                Date of Report (Date of earliest event reported)
                                January 10, 2003



                             Nittany Financial Corp.
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             (Exact name of Registrant as specified in its Charter)



     Pennsylvania                     0-32623                   23-2925762
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(State or other jurisdiction       (SEC File No.)             (IRS Employer
of incorporation)                                         Identification Number)



116 East College Avenue, State College, Pennsylvania              16801
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(Address of principal executive offices)                        (Zip Code)



Registrant's telephone number, including area code:          (814) 234-7320
                                                             --------------



                                 Not Applicable
          -------------------------------------------------------------
          (Former name or former address, if changed since last Report)



                             NITTANY FINANCIAL CORP.

                      INFORMATION TO BE INCLUDED IN REPORT
                      ------------------------------------



Items 5, 7, and 9        Other Events; Financial Statements, Pro Forma Financial
- -----------------        -------------------------------------------------------
                         Information and Exhibits; Regulation FD Disclosure
                         --------------------------------------------------

         (c)      Exhibits

                  Exhibit 99 -- Press Release




                                   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.


                                        Nittany Financial Corp.


Date:    January 10, 2003               By:    /s/David Z. Richards, Jr.
                                               ---------------------------------
                                               David Z. Richards, Jr.
                                               President and Chief Executive
                                               Officer (Duly Authorized Officer)