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

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                                    FORM 8-K
                                 CURRENT REPORT
     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

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         DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JUNE 15, 2006


                                 LSB CORPORATION
             (Exact name of registrant as specified in its charter)


       MASSACHUSETTS                    000-32955                 04-3557612
(State or other jurisdiction     (Commission File Number)     (I.R.S. Employer
     of incorporation)                                       Identification No.)

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                             30 MASSACHUSETTS AVENUE
                       NORTH ANDOVER, MASSACHUSETTS 01845
                                 (978) 725-7500
    (Address, including zip code, of registrant's principal executive offices
             and registrant's telephone number, including area code)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ]  Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
     (17 CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))


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Item 8.01.  Other Events.

     On June 15, 2006 the registrant issued a press release announcing the Bank
has undertaken a repositioning of its balance sheet designed to reduce exposure
to future interest rate risk and enhance long-term financial performance. A copy
of the press release is furnished with this Report as Exhibit 99.1.


Item 9.01.  Financial Statements and Exhibits.

(c)      Exhibits.

99.1     Press Release dated June 15, 2006






                                   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.




LSB CORPORATION


DATED: June 15, 2006


By: /s/ GERALD T. MULLIGAN
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    Gerald T. Mulligan
    President and Chief Executive Officer





                                  EXHIBIT INDEX


Exhibit No.      Description

    99.1         Press Release dated June 15, 2006