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):
                                 July 11, 2003


                           PHSB Financial Corporation
             ------------------------------------------------------
             (Exact name of Registrant as specified in its Charter)




         Pennsylvania                0-33419               25-1894708
 ----------------------------     --------------  ----------------------------
 (State or other jurisdiction     (SEC File No.)  (IRS Employer Identification
       of incorporation)                                    Number)


744 Shenango Road, Beaver Falls, Pennsylvania                      15010
- ---------------------------------------------                    ----------
  (Address of principal executive offices)                       (Zip Code)


Registrant's telephone number, including area code:          (724) 846-7300
                                                             --------------


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








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


Item 7.  Exhibits
- -----------------

(c)      Exhibits

         Exhibit 99 -- Press Release, dated July 11, 2003.

Item 9.  Regulation FD Disclosure
- ---------------------------------

     On July 11, 2003,  PHSB  Financial  Corporation  issued a press  release to
report  earnings for the quarter ended June 30, 2003 and to announce a quarterly
dividend.  A copy of the press  release is  furnished as Exhibit 99 to this Form
8-K.









                                   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, hereunto duly authorized.

                                             PHSB FINANCIAL CORPORATION



Date:    July 11, 2003                       By:  /s/ Richard E. Canonge
                                                  ------------------------------
                                                  Richard E. Canonge
                                                  Chief Financial Officer