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

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FORM 10-Q

(Mark One)

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

For the quarterly period ended March 31, 2001

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 1-13605

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EFC BANCORP, INC.
(Exact name of registrant as specified in its charter)

(847) 741-3900
(Registrant's telephone number, including area code)

Not Applicable
(Former name, former address and former fiscal year, if changes since last report)

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    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 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 90 days.

    Yes /x/  No / /

APPLICABLE ONLY TO CORPORATE ISSUERS:

    Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: 4,717,469 shares of common stock, par value $0.01 per share, were outstanding as of May 7, 2001.

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EFC Bancorp, Inc.

Form 10-Q

For the Quarter Ended March 31, 2001

INDEX

				Page
PART I.		FINANCIAL INFORMATION
Item 1.		Financial Statements (unaudited)
		Consolidated Balance Sheets at     March 31, 2001 and December 31, 2000		1
		Consolidated Statements of Income—For the Three     Months Ended March 31, 2001 and 2000		2
		Consolidated Statements of Cash Flows—For the Three     Months Ended March 31, 2001 and 2000		3
		Notes to Consolidated Financial Statements		4
Item 2.		Management's Discussion and Analysis of Financial Condition and Results of Operations		5
Item 3.		Quantitative and Qualitative Disclosures About Market Risk		9
PART II:		OTHER INFORMATION		10
Item 1.		Legal Proceedings		10
Item 2.		Changes in Securities and Use of Proceeds		10
Item 3.		Defaults Upon Senior Securities		10
Item 4.		Submission of Matters to a Vote of Security Holders		10
Item 5.		Other Information		10
Item 6.		Exhibits and Reports on Form 8-K		10
SIGNATURES				11

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PART I. FINANCIAL INFORMATION
EFC BANCORP, INC.
March 31, 2001

Item 1.  Financial Statements.

EFC BANCORP, INC.
AND SUBSIDIARIES
Consolidated Balance Sheets (unaudited)
March 31, 2001 and December 31, 2000

Assets			March 31, 2001			December 31, 2000
Cash and cash equivalents:
	On hand and in banks		$	2,541,212		2,668,094
	Interest bearing deposits with financial institutions			34,172,908		24,354,577
Loans receivable, net				472,512,648		459,794,835
Mortgage-backed securities available-for-sale, at fair value				14,957,723		9,453,560
Investment securities available-for-sale, at fair value				55,207,776		64,070,927
Foreclosed real estate				—		539,792
Stock in Federal Home Loan Bank of Chicago, at cost				8,260,000		7,760,000
Accrued interest receivable				3,243,921		3,723,849
Office properties and equipment, net				9,047,472		9,004,320
Other assets				1,606,510		1,831,034
Total assets			$	601,550,170		583,200,988
Liabilities and Stockholders' Equity
Liabilities:
	Deposits		$	374,301,368		369,533,355
	Borrowed money			150,200,000		140,200,000
	Advance payments by borrowers for taxes and insurance			1,652,153		958,652
	Income taxes payable			948,019		470,865
	Accrued expenses and other liabilities			6,787,512		4,753,014
Total liabilities				533,889,052		515,915,886
Stockholders' Equity:
	Preferred stock, par value $.01 per share, authorized 2,000,000 shares; no shares issued			—		—
	Common stock, par value $.01 per share, authorized 25,000,000 shares; issued 7,491,434 shares			74,914		74,914
	Additional paid-in capital			71,717,956		71,761,626
	Treasury stock, at cost, 2,737,465 and 2,657,165 shares at March 31, 2001 and December 31, 2000, respectively			(31,846,955	)	(30,987,317	)
	Unearned employee stock ownership plan (ESOP), 469,463 and 479,452 shares at March 31, 2001 and December 31, 2000, respectively			(7,019,682	)	(7,169,039	)
	Unearned stock award plan, 150,633 and 164,896 shares at March 31, 2001 and December 31, 2000, respectively			(1,675,789	)	(1,834,468	)
	Retained earnings, substantially restricted			35,863,636		35,483,689
	Accumulated other comprehensive income (loss)			547,038		(44,303	)
Total stockholders' equity				67,661,118		67,285,102
Commitments and contingencies				—		—
Total liabilities and stockholders' equity			$	601,550,170		583,200,988

See accompanying notes to consolidated financial statements.

1

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EFC BANCORP, INC.
AND SUBSIDIARIES

Consolidated Statements of Income (unaudited)
For the three months ended March 31, 2001 and 2000

			2001			2000
Interest income:
	Loans secured by real estate		$	8,074,064		7,055,217
	Other loans			890,034		569,730
	Mortgage-backed securities available-for-sale			225,435		220,169
	Investment securities available-for-sale and interest bearing deposits with financial institutions			1,496,172		1,344,081
Total interest income				10,685,705		9,189,197
Interest expense:
	Deposits			4,262,073		3,554,163
	Borrowed money			2,226,124		1,554,303
Total interest expense				6,488,197		5,108,466
Net interest income before provision for loan losses				4,197,508		4,080,731
Provision for loan losses				90,000		60,000
Net interest income after provision for loan losses				4,107,508		4,020,731
Noninterest income:
	Service fees			235,540		215,859
	Insurance and brokerage commissions			95,441		35,126
	Other			11,197		14,801
Total noninterest income				342,178		265,786
Noninterest expense:
	Compensation and benefits			1,686,030		1,529,427
	Office building, net			106,750		108,576
	Depreciation and repairs			278,737		226,581
	Data processing			130,922		126,295
	Federal insurance premium			17,642		16,366
	NOW account operating expenses			126,118		111,271
	Other			696,763		700,099
Total noninterest expense				3,042,962		2,818,615
Income before income taxes				1,406,724		1,467,902
Income tax expense				505,150		505,025
Net income			$	901,574		962,877
Earnings per share (basic and diluted)			$	0.21		0.21

See accompanying notes to consolidated financial statements.

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EFC BANCORP, INC.
AND SUBSIDIARIES

Consolidated Statements of Cash Flows (unaudited)
For the three months ended March 31, 2001 and 2000

				2001			2000
Cash flows from operating activities:
	Net income			$	901,574		962,877
	Adjustment to reconcile net income to net cash provided by operating activities:
		Amortization of premiums and discounts, net			12,482		8,940
		Provision for loan losses			90,000		60,000
		Stock award plan shares allocated			158,679		159,421
		ESOP shares committed to be released			149,357		149,357
		Change in fair value of ESOP shares			(43,670	)	(50,462	)
		Depreciation of office properties and equipment			184,761		163,907
		Gain on sale of foreclosed real estate			(91	)	—
		Decrease in accrued interest receivable and other assets, net			324,788		411,136
		Increase in income taxes payable, accrued expenses and other liabilities, net			3,202,904		2,325,927
Net cash provided by operating activities					4,980,784		4,191,103
Cash flows from investing activities:
	Net increase in loans receivable				(5,709,759	)	(8,903,860	)
	Purchases of loans receivable				(7,098,054	)	(7,789,967	)
	Purchases of mortgage-backed securities available-for-sale				(6,239,672	)	—
	Principal payments on mortgage-backed securities available-for-sale				739,613		642,223
	Maturities of investment securities available-for-sale				17,128,314		6,370
	Purchases of investment securities available-for-sale				(7,312,339	)	(8,144,456	)
	Purchases of office properties and equipment				(227,913	)	(313,237	)
	Purchases of stock in the Federal Home Loan Bank of Chicago				(500,000	)	(100,000	)
	Proceeds from the sale of foreclosed real estate				539,883		57,136
Net cash used in investing activities					(8,679,927	)	(24,545,791	)
Cash flows from financing activities:
	Cash dividends paid				(517,783	)	(348,217	)
	Purchase of treasury stock				(859,638	)	(2,856,334	)
	Net increase in deposits				4,768,013		12,161,431
	Proceeds from borrowed money				25,000,000		45,000,000
	Repayments on borrowed money				(15,000,000	)	(43,000,000	)
Net cash provided by financing activities					13,390,592		10,956,880
Net decrease in cash and cash equivalents					9,691,449		(9,397,808	)
Cash and cash equivalents at beginning of period					27,022,671		22,173,595
Cash and cash equivalents at end of period				$	36,714,120		12,775,787

See accompanying notes to consolidated financial statements.

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EFC BANCORP, INC.
Notes to Consolidated Financial Statements

Note 1: BASIS OF PRESENTATION

    The accompanying unaudited consolidated financial statements include the accounts of EFC Bancorp, Inc. (the Company) and its wholly-owned subsidiary, Elgin Financial Savings Bank (the Bank) and its wholly-owned subsidiary, Fox Valley Service Corp. Certain amounts for the prior year have been reclassified to conform to the current year presentation.

    In the opinion of the management of the Company, the accompanying consolidated financial statements include all normal recurring adjustments necessary for a fair presentation of the financial position and results of operations for the periods presented. All significant intercompany transactions have been eliminated in consolidation. These interim financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission and therefore certain information and footnote disclosures normally included in financial statements presented in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. It is suggested that the accompanying unaudited consolidated financial statements be read in conjunction with the Company's 2000 Annual Report on Form 10-K. Currently, other than investing in various securities, the Company does not directly transact any material business other than through the Bank. Accordingly, the discussion herein addresses the operations of the Company as they are conducted through the Bank.

Note 2: COMPREHENSIVE INCOME

    The Company's comprehensive income for the three month periods ended March 31, 2001 and 2000 are as follows:

			Three months ended March 31,
			2001			2000
Net income			$	901,574		962,877
Other comprehensive loss, net of tax:
	Unrealized holding gains (losses) on securities arising during the period			591,341		(14,036	)
	Comprehensive income		$	1,492,915		948,841

There were no sales of investment securities as of and for the three months ended March 31, 2001 and 2000.

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Item 2.  Management's Discussion and Analysis of Financial Condition and Results of Operations.

    The following analysis discusses changes in the financial condition at March 31, 2001 and results of operations for the three months ended March 31, 2001, and should be read in conjunction with the Company's Unaudited Consolidated Financial Statements and the notes thereto, appearing in Part I, Item 1 of this document.

Forward-Looking Statements

    This report contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations of the Company, are generally identified by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. The Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and the subsidiaries include, but are not limited to, changes in: interest rates, general economic conditions, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in the Company's market area and accounting principles and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Further information concerning the Company and its business, including additional factors that could materially affect the Company's financial results, is included in the Company's filings with the SEC, including its 2000 Annual Report on Form 10-K.

    The Company does not undertake—and specifically disclaims any obligation—to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Comparison of Financial Condition at March 31, 2001 and December 31, 2000

    Total assets at March 31, 2001 were $601.6 million, which represented an increase of $18.4 million, or 3.2%, compared to $583.2 million at December 31, 2000. The increase in total assets was primarily as a result of an increase in loans receivable of $12.7 million, or 2.8%, to $472.5 million at March 31, 2001 from $459.8 million at December 31, 2000. Of the $12.7 million increase, $7.1 million represents loans purchased. The increase in loans receivable was primarily attributable to strong loan demand during the period. The growth in total assets was funded by increases in borrowed money and deposits. Borrowed money, representing FHLB advances, increased by $10.0 million to $150.2 million at March 31, 2001 from $140.2 million at December 31, 2000. Deposits increased $4.8 million to $374.3 million at March 31, 2001 from $369.5 million at December 31, 2000. Stockholders' equity increased by $376,000 to $67.7 million at March 31, 2001 from $67.3 million at December 31, 2000. The increase in stockholders' equity was primarily the result of the Company's net income during the period and a $591,000 increase in the Company's accumulated other comprehensive income relating to its available-for-sale investment portfolio, offset by stock repurchases and dividends paid.

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Comparison of Operating Results For the Three Months Ended March 31, 2001 and 2000

    General.  The Company's net income decreased $61,000, to $902,000 for the three months ended March 31, 2001, from $963,000 for the three months ended March 31, 2000.

    Interest Income.  Interest income increased $1.5 million, or 16.3%, to $10.7 million for the three months ended March 31, 2001, compared with $9.2 million for the same period in 2000. The increase in interest income was primarily due to an increase in average interest-earning assets, which increased by $79.6 million, or 15.9%, to $580.5 million for the three months ended March 31, 2001 from $500.9 million for the comparable period in 2000, and an increase in the average yield on interest-earning assets by 2 basis points to 7.36% for the three months ended March 31, 2001 from 7.34% for the three months ended March 31, 2000.

    Mortgage loan interest income increased by $1.0 million for the three months ended March 31, 2001 compared with the same period in 2000. The average balance of mortgage loans increased $44.3 million, while the loan yield increased by 18 basis points from 7.42% to 7.60%. Interest income from investment securities, mortgage-backed securities and short term deposits increased by $116,000 for the three months ended March 31, 2001, compared with the same period in 2000. This increase resulted from a combination of an increase in average balance of $17.4 million and offset by a 65 basis point decrease in yield.

    Interest Expense.  Interest expense increased by $1.4 million, or 27.0%, to $6.5 million for the three months ended March 31, 2001 from $5.1 million for the three months ended March 31, 2000. This increase resulted from the combination of an increase in the average balance of interest-bearing liabilities, and an overall increase in the average rate paid on those interest-bearing liabilities. The average balance of interest-bearing liabilities increased by $75.0 million, or 17.4%, to $505.3 million at March 31, 2001 from $430.3 million at March 31, 2000. This change reflects a $27.7 million increase in the deposit accounts, with the remaining $47.3 million increase attributable to advances from the FHLB-Chicago. The average rate paid on combined deposits and borrowed money increased by 39 basis points to 5.14% for the three months ended March 31, 2001 from 4.75% for the three months ended March 31, 2000.

    Net Interest Income Before Provision for Loan Losses.  Net interest income before provision for loan losses increased $117,000, or 2.9%, to $4.2 million for the three months ended March 31, 2001 from $4.1 million for the comparable period in 2000. The net interest margin as a percent of interest-earning assets decreased by 37 basis points to 2.89% for the three months ended March 31, 2001 from 3.26% for the comparable period in 2000.

    Provision for Loan Losses.  The provision for loan losses increased by $30,000, to $90,000 for the three months ended March 31, 2001 from $60,000 in 2000. At March 31, 2001, December 31, 2000 and March 31, 2000, non-performing loans totaled $5.0 million, $4.5 million and $1.0 million, respectively. At March 31, 2001, the ratio of the allowance for loan losses to non-performing loans was 39.8% compared to 41.5% at December 31, 2000 and 154.2% at March 31, 2000. The ratio of the allowance to total loans was 0.42%, 0.41% and 0.39%, at March 31, 2001, December 31, 2000 and March 31, 2000, respectively. There were no charge-offs for the three months ended March 31, 2001 and 2000. Management periodically calculates an allowance sufficiency analysis based upon the portfolio composition, asset classifications, loan-to-value ratios, potential impairments in the loan portfolio, and other factors.

    Noninterest Income.  Noninterest income totaled $342,000 and $266,000 for the three months ended March 31, 2001 and 2000, respectively. The increase in noninterest income is primarily attributable to an increase in insurance and brokerage commission income of $60,000 and an increase in service fees of $20,000.

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    Noninterest Expense.  Noninterest expense increased $224,000, to $3.0 million for the three months ended March 31, 2001 from $2.8 million for the comparable period in 2000. Compensation and benefits increased by $157,000. This increase was primarily due to a combination of annual salary increases, the addition of staff and increases in employee health insurance costs. The additional staff expenses are primarily attributed to the opening of the Bank's new East Dundee, Illinois branch and the hiring of marketing and human resource personnel. All other operating expenses, including advertising, marketing, postage, communications, data processing and other office expense increased by a combined $68,000, or 5.3%, to $1.4 million for the three months ended March 31, 2001 from $1.3 million for the three months ended March 31, 2000. Management continues to emphasize the importance of expense management and control while continuing to provide expanded banking services to a growing market base.

    Income Tax Expense.  Income tax expense totaled $505,000 for the three months ended March 31, 2001 and 2000. The effective tax rate was 35.9% and 34.4% for the three months ended March 31, 2001 and 2000, respectively.

Liquidity and Capital Resources

    The Bank's primary sources of funds are savings deposits, proceeds from the principal and interest payments on loans and proceeds from the maturity of securities and borrowings from the FHLB-Chicago. While maturities and scheduled amortization of loans and securities are predictable sources of funds, deposit outflows and mortgage prepayments are greatly influenced by general interest rates, economic conditions and competition.

    The primary investing activities of the Bank are the origination of residential one-to-four-family loans and, to a lesser extent multi-family and commercial real estate, construction and land, commercial and consumer loans and the purchase of mortgage-backed and mortgage-related securities. In addition, the Bank purchases loans, consisting of single-family, multi-family and commercial real estate. Deposit flows are affected by the level of interest rates, the interest rates and products offered by the local competitors, the Bank and other factors.

    The Bank's most liquid assets are cash and interest-bearing demand accounts. The levels of these assets are dependent on the Bank's operating, financing, lending and investing activities during any given period. At March 31, 2001, cash and interest-bearing demand accounts totaled $36.7 million, or 6.1% of total assets.

    See the "Consolidated Statements of Cash Flows" in the Unaudited Consolidated Financial Statements included in this Form 10-Q for the sources and uses of cash flows for operating, investing and financing activities for the three months ended March 31, 2001 and 2000.

    At March 31, 2001, the Bank exceeded all of its regulatory capital requirements. The following is a summary of the Bank's regulatory capital ratios at March 31, 2001:

At March 31, 2001, the Company had a Total Capital to Total Assets ratio of 11.25%.

    On February 21, 2001, the Company announced its first quarter dividend of $0.1225 per share. The dividend was paid on April 10, 2001 to stockholders of record on March 30, 2001.

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Recent Accounting Pronouncements

    The Financial Accounting Standards Board ("FASB") issued Statement of Financial Accounting Standards ("SFAS") No. 133, "Accounting for Derivative Instruments and Hedging Activities," in June 1998. SFAS No. 133 standardizes the accounting for derivative instruments, including certain derivative instruments embedded in other contracts. During June, 1999, the FASB issued Statement of Financial Accounting Standards No. 137, "Accounting for Derivative Instruments and Hedging Activities-Deferral of the Effective Date of FASB Statement No. 133—an amendment of FASB Statement No. 133," ("SFAS 137") that delayed SFAS 133 until fiscal years beginning after June 15, 2000. The FASB issued Statement No. 138, "Accounting for Certain Derivative Instruments and Certain Hedging Activities—an amendment of FASB Statement No. 133" in June, 2000, which addresses various implementation issues relating to SFAS No. 133. The adoption of SFAS No. 133 in January 2001 did not have a material impact on the Company's results of operations or financial condition.

    "SFAS" No. 140 "Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities", was issued by the "FASB" in September 2000. SFAS No. 140 supercedes and replaces FASB SFAS No. 125, "Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities". Accordingly, SFAS No. 140 is now the authoritative accounting literature for transfers and servicing of financial assets and extinguishments of liabilities. SFAS No. 140 also includes several additional disclosure requirements in the area of securitized financial assets and collateral arrangements. The provisions of SFAS No. 140 related to transfers of financial assets are to be applied to all transfers of assets occurring after March 31, 2001. The collateral recognition and disclosure provisions in SFAS No. 140 were effective for fiscal years ending December 31, 2000. The Company anticipates that the adoption of SFAS No. 140 will not have a material impact on the Company's results of operations or financial condition.

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Item 3.  Quantitative and Qualitative Disclosures About Market Risk.

    The Bank's interest rate sensitivity is monitored by management through the use of a Net Portfolio Value Model which generates estimates of the change in the Bank's net portfolio value ("NPV") over a range of interest rate scenarios. NPV is the present value of expected cash flows from assets, liabilities, and off-balance sheet contracts. The NPV ratio, under any interest rate scenario, is defined as the NPV in that scenario divided by the market value of assets in the same scenario. The model assumes estimated prepayment rates, reinvestment rates and deposit decay rates. The Sensitivity Measure is the decline in the NPV ratio, in basis points, caused by a 2% increase or decrease in rates, whichever produces a larger decline. The higher the institution's Sensitivity Ratio, the greater its exposure to interest rate risk is considered to be. The following NPV Table sets forth the Bank's NPV as of March 31, 2001.

(In thousands)

										NPV as % of Portfolio Value of Assets
Change in Interest Rates in Basis Points (Rate Shock)		Net Portfolio Value
										NPV Ratio
		Amount			$ Change			% Change				% Change
+300		$	53,724		$	(27,600	)	(33.94)	%	9.16	%	(30.50)	%
+200			62,232			(19,092	)	(23.48)		10.44		(20.79)
+100			72,459			(8,865	)	(10.90)		11.94		(9.41)
Static			81,324			—		—		13.18		—
-100			87,476			6,152		7.57		14.01		6.30
-200			92,628			11,304		13.90		14.69		11.46
-300			96,305			14,981		18.42		15.16		15.02

    Certain shortcomings are inherent in the methodology used in the above interest rate risk measurements. Modeling changes in NPV require the making of certain assumptions which may or may not reflect the manner in which actual yields and costs respond to changes in market interest rates. In this regard, the NPV Table presented assumes that the composition of the Bank's interest sensitive assets and liabilities existing at the beginning of a period remains constant over the period being measured and also assumes that a particular change in interest rates is reflected uniformly across the yield curve regardless of the duration to maturity or repricing of specific assets and liabilities. Accordingly, although the NPV Table provides an indication of the Bank's interest rate risk exposure at a particular point in time, such measurements are not intended to and do not provide a precise forecast of the effect of changes in market interest rates on the Bank's net interest income and may differ from actual results.

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PART II. OTHER INFORMATION

Item 1.  Legal Proceedings.

    The Company is not involved in any pending legal proceedings other than routine legal proceedings occurring in the ordinary course of business. Such routine legal proceedings, in the aggregate, are believed by management to be immaterial to the Company's financial condition, results of operations and cash flows.

Item 2.  Changes in Securities and Use of Proceeds.

    None.

Item 3.  Defaults Upon Senior Securities.

    None.

Item 4.  Submission of Matters to a Vote of Security Holders.

    The annual meeting of the stockholders was held April 24, 2001. The following proposals were voted on by the stockholders.

Proposal			For		Withheld		Abstain		Broker Non-Votes
1) Election of Directors— nominees for three year term
	James J. Kovac		3,938,655		82,601		N/A		N/A
	Vincent C. Norton		3,596,276		424,980		N/A		N/A
	Ralph W. Helm		3,937,354		83,902		N/A		N/A
2) Approval of appointment of KPMG LLP as the Company's Independent auditors for the Year ended December 31, 2001			3,941,168		46,934		33,154		N/A

Item 5.  Other Information.

    None.

Item 6.  Exhibits and Reports on Form 8-K (§249.308 of this Chapter).

		(a)		Exhibits
				3.1		Certificate of Incorporation of EFC Bancorp, Inc. *
				3.2		Bylaws of EFC Bancorp, Inc. *
				11.0		Statement re: Computation of Per Share Earnings
		(b)		Reports on Form 8-K
				None.

*

Incorporated herein by reference from the Exhibits filed with the Registration Statement on Form S-1 and any amendments thereto. Registration Statement No. 333-38637 filed with the Securities and Exchange Commission ("SEC") on October 24, 1997.

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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 hereunto duly authorized.

			EFC BANCORP, INC.
Dated: May 11, 2001	By:		/s/ BARRETT J. O'CONNOR    Barrett J. O'Connor President and Chief Executive Officer (Principal executive officer)
Dated: May 11, 2001	By:		/s/ JAMES J. KOVAC    James J. Kovac Executive Vice President and Chief Financial Officer (Principal financial and accounting officer)

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INDEX
PART I. FINANCIAL INFORMATION

Item 1. Financial Statements.

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings.
Item 2. Changes in Securities and Use of Proceeds.
Item 3. Defaults Upon Senior Securities.
Item 4. Submission of Matters to a Vote of Security Holders.
Item 5. Other Information.
Item 6. Exhibits and Reports on Form 8-K (§249.308 of this Chapter).

SIGNATURES