8-K

                UNITED STATES 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): April 14, 2003

                        COMMISSION FILE NUMBER: 001-15933

                              BLUE VALLEY BAN CORP
             (Exact name of registrant as specified in its charter)

               KANSAS                                      48-1070996
  (State or other jurisdiction of                       (I.R.S. Employer
   incorporation or organization)                      Identification No.)

            11935 RILEY                                    66225-6128
       OVERLAND PARK, KANSAS                               (Zip Code)
  (Address of principal executive offices)


       Registrant's telephone number, including area code: (913) 338-1000






ITEM 5.  OTHER EVENTS

       The Registrant's press release dated April 14, 2003, announcing 2003
       first quarter earnings, other select financial data, creation of a new
       subsidiary, and additional capital is attached hereto as Exhibit 99.1,
       and is incorporated herein by reference.


ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS


       EXHIBITS

         99.1 Press Release Dated April 14, 2003.





                                   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.



                                           BLUE VALLEY BAN CORP


         Date:  May 15, 2003               By: /s/ Mark A. Fortino
                                               --------------------------------
                                               Mark A. Fortino, Treasurer

EX-99.1

                                                                    EXHIBIT 99.1


BLUE VALLEY BAN CORP                                    NEWS RELEASE
11935 Riley
Overland Park, Kansas  66225-6128            CONTACT:   Mark A. Fortino
                                                        Treasurer
                                                        (913) 338-1000


For Immediate Release Monday, April 14, 2003

            BLUE VALLEY BAN CORP REPORTS FIRST QUARTER 2003 EARNINGS

Overland Park, Kansas, April 14, 2003 - Blue Valley Ban Corp (OTCBB: BVBC) ("the
Company") today announced net income of $1.8 million, or fully-diluted earnings
per share (EPS) of $0.77, for the first quarter of 2003, compared to net income
of $1.2 million, or $0.52 per share for the same period in 2002.

"Strong mortgage origination activity and continued improvement in net interest
margin combined to be major factors in our first quarter performance" said
Robert D. Regnier, Chairman and CEO of Blue Valley Ban Corp.

OPERATING RESULTS

During the first quarter of 2003, net interest income increased 16.6% to $4.5
million compared to $3.8 million for the same period in the prior year,
primarily due to growth in earning assets. Noninterest income increased to $5.7
million during this period from $3.6 million in the prior year, an increase of
59.5%. The principal factor driving the increase in non-interest income was
Loans Held for Sale Income. The current low interest rate environment has
resulted in continued strong demand for residential mortgage loan originations.
The Company continues to capitalize on the mortgage resources put into place
during 2001 and 2002. Noninterest expense increased 35.2% to $6.8 million
compared to $5.0 million in the prior year period. The increase relates
primarily to costs associated with the Company's growth and expansion.

Total assets, loans and deposits at March 31, 2003 were $591.4 million, $404.0
million and $449.2 million, respectively, compared to $529.9 million, $336.0
million and $433.2 million one year earlier, respectively.

NEW SUBSIDIARY

During the current quarter, the Company created a new subsidiary, Blue Valley
Insurance Services ("BVIS"). BVIS will market property and casualty insurance
products adding an additional component to the Company's comprehensive array of
financial services. The Company expects BVIS to be operational by the end of the
second quarter 2003.

ADDITIONAL CAPITAL

On April 10th, 2003, the Company closed a trust preferred offering which
generated $7.5 million of additional capital. The variable-rate offering was a
private placement that the Company intends to use to reduce existing debt and to
fund additional growth.

ABOUT BLUE VALLEY BAN CORP

Blue Valley Ban Corp is a bank holding company that, through its subsidiaries
provides banking services to closely-held business, their owners, professionals
and individuals in Johnson County, Kansas. In addition, the Company originates
residential mortgages nationwide through its InternetMortgage.com website.




EXHIBIT 99.1


This release contains forward-looking statements within the meaning of 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 those safe harbor
provisions. Forward-looking statements, which are based on certain assumptions
and describe future plans, strategies and expectations of the Company, can
generally be identified by use of the words "believe," "expect," "intend,"
"anticipate," "estimate," "project," or similar expressions. The Company is
unable to predict the actual results of its future plans or strategies with
certainty. Factors which could have a material adverse effect on the operations
and future prospects of the Company include, but are not limited to,
fluctuations in market rates of interest and loan and deposit pricing; a
deterioration of general economic conditions or the demand for housing in the
Company's market areas; legislative or regulatory changes; adverse developments
in the Company's loan or investment portfolio; any inability to obtain funding
on favorable terms; the loss of key personnel; significant increases in
competition; and the possible dilutive effect of potential acquisitions or
expansions. These risks and uncertainties should be considered in evaluating
forward-looking statements and undue reliance should not be placed on such
statements.


                              BLUE VALLEY BAN CORP
                               FIRST QUARTER 2003
                        CONSOLIDATED FINANCIAL HIGHLIGHTS
                (all dollars in thousands, except per share data)
                                   (unaudited)



Three Months Ended March 31                      2003       2002
- ---------------------------                   ---------   ---------
                                                    
Net interest income                           $   4,483   $   3,844
Provision for loan losses                           600         600
Non-interest income                               5,698       3,572
Non-interest expense                              6,812       5,040
Net income                                        1,776       1,160
Net income per share - Basic                       0.80        0.53
Net income per share - Diluted                     0.77        0.52
Return on average assets                           1.23%       0.92%
Return on average equity                          20.19%      16.11%

At March 31
Assets                                        $ 591,409   $ 529,923
Loans                                           403,985     336,038
Deposits                                        449,227     433,226
Stockholders' Equity                             36,248      29,342