FORM 10-Q
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

           QUARTERLY REPORT UNDER SECTION 13 or 15(d)
             OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarter ended June 30, 2000 Commission file number 2-99779

               National Consumer Cooperative Bank
     (Exact name of registrant as specified in its charter)

   United States of America                    52-1157795
(12 U.S.C. Section 3001 et seq.)            (I.R.S. Employer
(State or other jurisdiction of              Identification No.)
 incorporation or organization)

     1401 Eye Street, NW, Suite 700, Washington, D.C.  20005
            (Address of principal executive offices)

Registrant's telephone number, including area code (202)336-7700

     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 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        .

     Indicate  the number of shares outstanding of each  of  the
issuer's classes  of common stock, as of the latest practicable
date.

                                   Outstanding at June 30, 2000

     Class C                                      222,733
(Common stock, $100.00 par value)

     Class B                                      997,104
(Common stock, $100.00 par value)

     Class D                                            3
(Common stock, $100.00 par value)


              National Consumer Cooperative Bank
          (doing business as National Cooperative Bank)
                        and Subsidiaries

                             INDEX

PART I  FINANCIAL INFORMATION
                                                        Page No.

Item 1    Consolidated balance sheets - June 30,
          2000 and December 31, 1999 ............           3

          Consolidated statements of income - for
          the three and six months ended June 30, 2000
          and 1999...............................           4

          Consolidated statements of comprehensive
          income - for the six months ended
          June 30, 2000 and 1999.................           5

          Consolidated statements of cash flows -
          for the six months ended June 30, 2000
          and 1999...............................          6-7

          Condensed notes to the consolidated
          financial statements - June 30, 2000...          8-17

Item 2    Management's discussion and analysis
          of financial condition and results of
          operations - for the three and six months
          ended June 30, 2000 and 1999...........          18-28

Item 3    Quantitative and qualitative disclosures
          about market risk .....................          28

                    PART II OTHER INFORMATION

Item 6    Exhibits .............................           29

          Exhibit 10-30 - Amendment No. 3 to Third
          Amended and Restated Loan Agreement with
          Fleet Bank as Agent

          Exhibit 27 - Financial Data Schedule

                    NATIONAL COOPERATIVE BANK
                   CONSOLIDATED BALANCE SHEETS
               June 30, 2000 and December 31, 1999
                               (Unaudited)

                                        June 30,        December 31,
Assets                                    2000              1999
Cash and cash equivalents          $   28,984,637    $   29,910,037
Restricted cash                         4,857,607         4,887,213
Investment securities
  Available-for-sale                   44,166,980        46,283,045
  Held-to-maturity                      2,710,244         2,710,191

Loans held for sale                   207,788,526       132,057,978
Loans and lease financing             884,320,739       815,840,439
 Less: Allowance for loan loss        (19,072,553)      (18,693,670)
 Net loans held for sale and
   loans and lease financing        1,073,036,712       929,204,747

Other assets                           37,869,628        43,514,663

  Total assets                     $1,191,625,808    $1,056,509,896

Liabilities and Members' Equity
Liabilities
Deposits                           $  142,482,158    $  126,071,259
Patronage dividends payable
 in cash                                6,774,313         5,642,040
Other liabilities                      28,359,754        25,041,359
Borrowings
  Short-term                          377,598,417       283,589,354
  Long-term                           304,151,219       286,262,870
                                      681,749,636       569,852,224

  Subordinated debt                   182,498,076       182,620,212

  Total borrowings                    864,247,712       752,472,436

  Total liabilities                 1,041,863,937       909,227,094

Members' equity
Common stock
  Class B                              99,710,414        99,879,531
  Class C                              22,273,318        22,380,663
  Class D                                     300               300
Retained earnings
  Allocated                            10,625,057         9,203,865
  Unallocated                          17,368,655        16,682,644
Accumulated other comprehensive
  income                                 (215,873)         (864,201)

   Total members' equity              149,761,871       147,282,802

   Total liabilities and members'
    equity                         $1,191,625,808    $1,056,509,896




                    NATIONAL COOPERATIVE BANK
                CONSOLIDATED STATEMENTS OF INCOME
                           (Unaudited)

<TABLE>
  <S>                               <C>           <C>          <C>           <C>
                                         Six Months Ended           Three Months Ended
                                              June 30,                  June 30,
                                        2000          1999         2000         1999
Interest income
  Loans and lease financing         $43,443,662   $35,429,714  $22,862,582   $18,415,896
  Investments securities              2,331,643     2,706,871    1,090,231     1,218,099

   Total interest income             45,775,305    38,136,585   23,952,813    19,633,995

Interest expense
  Deposits                           3,200,690      2,840,310    1,742,364     1,389,586
  Short-term borrowings             10,547,178      7,178,910    5,841,421     3,595,484
  Long-term debt, other borrowings
   and subordinated debt            16,629,159     13,319,661    8,515,237     7,489,756

   Total interest expense           30,377,027     23,338,881   16,099,022    12,474,826

   Net interest income              15,398,278     14,797,704    7,853,791     7,159,169

Provision for loan losses              441,667        835,036      429,167       417,536
   Net interest income after
    provision for loan losses       14,956,611     13,962,668    7,424,624     6,741,633

Non-interest income
  Gain on sale of loans                232,994      3,756,363      237,063     3,691,893
  Loan and deposit servicing fees    1,447,851      1,319,608      635,918       599,013
  Other                              1,252,468      2,577,823      636,156     1,721,661

   Total non-interest income         2,933,313      7,653,794    1,509,137     6,012,567

Non-interest expense
  Compensation and
   employee benefits                 7,487,420      7,478,528    3,234,188     3,864,642
  Contractual services               2,286,910      2,105,342    1,233,438     1,038,296
  Occupancy and equipment            2,519,984      2,281,927    1,278,394     1,232,147
  Contribution to NCB
   Development Corporation              -             200,000       -            150,000
  Other                              1,319,459      1,400,216      789,664       793,836
  Total non-interest expense        13,613,773     13,466,013    6,535,684     7,078,921

Income before income taxes           4,276,151      8,150,449    2,398,077     5,675,279

Provision for income taxes             805,457        727,596      427,193       403,182

Net income                         $ 3,470,694    $ 7,422,853  $ 1,970,884   $ 5,272,097

Distribution of net income
  Patronage dividends              $ 3,470,694    $ 7,422,853  $ 1,970,884   $ 5,272,097
  Retained earnings                     -              -            -             -
                                   $ 3,470,694    $ 7,422,853  $ 1,970,884   $ 5,272,097
</TABLE>

                    NATIONAL COOPERATIVE BANK
         CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                           (Unaudited)

For the six months ended June 30,              2000        1999


Net income                                 $3,470,694  $7,422,853

Other comprehensive income, net of tax:
  Net unrealized holding
   gains before tax                           648,328   1,317,045

Comprehensive income                       $4,119,022  $8,739,898



                    NATIONAL COOPERATIVE BANK
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)

For the six months ended June 30,           2000           1999

Cash flows from operating activities
Net income                            $   3,470,694  $   7,422,853
Adjustments to reconcile net
 income to net cash used in
 operating activities
  Provision for loan losses                 441,667        835,035
  Depreciation and amortization           3,432,986      2,802,052
  Gain on sale of loans                    (232,994)    (4,345,651)
  Loans originated for sale            (115,896,466)  (143,984,908)
  Proceeds from sale of loans
   held for sale                         40,398,910    131,774,082
  Decrease (increase) in other
   assets                                 2,826,011     (6,868,407)
  Increase (decrease) in other
   liabilities                            3,026,290    (11,458,739)

Net cash used in operating
 activities                             (62,532,902)   (23,823,683)

Cash flows from investing activities
  Decrease in restricted cash                29,606      7,512,629
  Purchase of investment securities
   Available-for-sale                    (2,260,916)    (1,000,000)
  Proceeds from maturities of
   investments securities
   Available-for-sale                     2,752,681      6,558,083
   Held-to-maturity                          -             165,596
  Net increases in loans and lease
   financing                            (80,564,806)  (191,831,996)
  Proceeds from sale of portfolio
   loans                                 13,823,937     10,483,123
  Purchases of premises and equipment       (73,460)      (421,096)

Net cash used in investing activities   (66,292,958)  (168,533,661)

Cash flows from financing activities
  Net increase (decrease) in deposits    16,410,899     (4,457,641)
  Net increase in short-term borrowings  94,009,063    146,401,341
  Proceeds from issuance of long-term
   debt                                  49,768,128     45,000,000
  Repayment on long term debt           (32,000,000)   (20,000,000)
  Dividends paid                           (287,630)      (250,848)

Net cash provided by financing
 activities                             127,900,460    166,692,852

Decrease in cash and cash equivalents      (925,400)   (25,664,492)

Cash and cash equivalents, beginning
 of year                                 29,910,037     66,563,160

Cash and cash equivalents, end of
 period                               $  28,984,637  $  40,898,668



                    NATIONAL COOPERATIVE BANK
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)


Supplemental schedule of investing and financing activities:

For the six months ended June 30,          2000             1999

Unrealized gain on investment
   available-for-sale                 $   648,328       $ 1,317,045

Interest paid                         $29,247,787       $23,374,647

Income taxes paid                     $   731,970       $   614,694




                    NATIONAL COOPERATIVE BANK
               CONDENSED NOTES TO THE CONSOLIDATED
                      FINANCIAL STATEMENTS
                          June 30, 2000
                           (Unaudited)

    The  accompanying  financial statements  have  been  prepared
without  audit  and reflect all adjustments (consisting  only  of
normal  recurring  adjustments) which were,  in  the  opinion  of
management, necessary to a fair statement of the results  of  the
interim  period  presented.   Certain  information  and  footnote
disclosures normally included in financial statements prepared in
accordance  with  generally accepted accounting  principles  have
been   condensed   or  omitted.   Accordingly,  these   condensed
financial  statements  should be read  in  conjunction  with  the
financial  statements and the notes thereto included in  National
Cooperative  Bank's  (NCB's)  most  current  annual  report.  The
results of operations for the interim periods are not necessarily
indicative of the results of the entire year.

1.  Cash, Cash Equivalents and Investment Securities

  As of June 30, 2000,  NCB's  portfolios  of   investment
securities,  cash  and cash equivalents had an  average  adjusted
maturity of approximately 2.6 years with interest rates in  those
portfolios varying from 5.23% to 8.13%.

                             Cash and      Investments  Investments
                              Cash         Available-    Held-to-
                             Equivalents     for-Sale    Maturity

  Cash                       $ 2,868,539   $    -       $   -
  Federal funds               15,921,664        -           -
  Money market securities      9,844,434       752,518      -
     Private debt security        -             -          767,931
  Mutual funds                    -          1,794,353      -
  Certificates of deposit        350,000        -           -
  Mortgage-backed
      securities                  -             -        1,942,313
  Corporate bonds                 -          4,689,913      -
  U.S. Treasury and Agency
    obligations                   -         17,607,645      -
  Interest-only receivables       -         19,322,551      -

                             $28,984,637   $44,166,980  $2,710,244

  As of December 31, 1999, NCB's portfolios of investment
  securities, cash and cash equivalents were comprised of the
  following:

                              Cash and    Investments  Investments
                               Cash        Available-   Held-to-
                            Equivalents     for-Sale    Maturity

  Cash                      $ 3,407,537   $    -       $    -
  Federal funds              11,763,202        -            -
  Money market securities    14,389,298     1,039,318       -
     Private debt security       -             -           767,878
  Mutual funds                   -          1,221,719       -
  Certificates of deposit       350,000        -            -
  Mortgage-backed
      securities                 -             -         1,942,313
  Corporate bonds                -          4,721,038       -
  U.S. Treasury and Agency
    obligations                  -         18,447,345       -
  Interest-only receivables      -         20,853,625       -

                            $29,910,037   $46,283,045   $2,710,191

     At  June 30, 2000 and December 31, 1999, the investments in
the available-for-sale portfolio were recorded at aggregate fair
value.

   Restricted cash of $4,857,607 and $4,887,213 at June 30,  2000
and  December 31, 1999, respectively is held by a trustee for the
benefit  of certificate holders in the event of a loss on certain
loans  sold  in 1992 and 1993. At June 30, 2000 and December  31,
1999,  the  combined  remaining balance of 1992  and  1993  loans
totaled $38,955,317 and $56,967,101, respectively. The restricted
cash  will  become  available to NCB I,  Inc.  as  the  principal
balance  of the respective loans decreases. The loans  sold  have
original maturities of ten to fifteen years.

   Interest-only  receivables substantially  pertain  to  blanket
loans to cooperative housing corporations.

2.  Loans and Lease Financing

  Loans and leases outstanding by category were as follows:

                                    June 30, 2000  December 31,1999

     Commercial loans              $  537,850,646   $470,913,210
     Lease financing                   57,590,393     60,104,256
     Real estate loans
       Residential                    486,831,096    408,204,055
       Commercial                       9,837,130      8,676,896

                                   $1,092,109,265   $947,898,417

  At  June  30,  2000 and December 31, 1999, loans held  for  sale
were $207.8 million and $132.1 million, respectively.

3.    Impaired Assets

  Impaired  loans, representing the nonaccrual loans at June  30,
2000  and  December  31,  1999, totaled  $707,259  and  $580,311,
respectively,  and  averaged $744,500 and $1,084,000  during  the
respective periods ending on these dates. Specific allowances  of
$343,600  and  $239,911 were established at  June  30,  2000  and
December  31,  1999,  respectively. During  2000  and  1999,  the
interest collected on the nonaccrual loans was applied to  reduce
the outstanding principal.

  At  June  30,  2000  and  December  31,  1999,  there  were  no
commitments to lend additional funds to borrowers whose loans are
impaired.

  At  June  30,  2000 and December 31, 1999, NCB had real  estate
acquired   through  foreclosure  of  $125,007   and   $2,686,747,
respectively, which is classified as other assets.

4.    Allowance for Loan Losses

  The  following  is a summary of the activity in  the  allowance
for loan losses during the six months ended June 30, 2000:

  Balance at January 1, 2000           $18,693,670
  Provision for loan losses                441,667
  Charge-offs                             (480,355)
  Recoveries of loans previously
    charged-off                            417,571

  Balance at June 30, 2000             $19,072,553

  The  allowance for loan losses as a percentage of average loans
and lease financing at June 30, 2000 was 1.8%.

5.   Statement of Changes in Members' Equity

  The following is a summary of the activity in members' equity at June 30,
2000:
<TABLE>
<S>    <C>        <C> <C>  <C>          <C>         <C>           <C>         <C>

                                        Retained    Retained                   Total
                             Common    Earnings     Earnings     Unrealized   Members'
                              Stock    Allocated   Unallocated   (Loss) Gain  Equity

Balance, December 31, 1999 $122,260,494 $ 9,203,865 $16,682,644   $ (864,201) $147,282,802
Net income                       -           -        3,470,694       -          3,470,694
Other dividends declared         -           -         (292,107)      -           (292,107)
Cancellation and redemption
  of stock                     (276,462)     -           91,409       -            185,053)
2000 patronage dividends
  to be distributed in cash      -           -       (1,162,793)      -         (1,162,793)
Retained in form of equity       -        1,421,192  (1,421,192)      -             -
Unrealized gain on investment
  securities available-for-
  sale                          -           -           -           648,328       648,328

Balance, June 30, 2000     $121,984,032 $10,625,057 $17,368,655   $ (215,873)$149,761,871
</TABLE>

6. Segment Reporting

   NCB's  reportable segments are strategic business units  that
provide  diverse  products  and services  within  the  financial
services  industry. NCB has five reportable segments: commercial
lending,  real estate lending, warehouse  lending,  NCB  Savings
Bank   and   other.  The  commercial  lending  segment  provides
financial  services to cooperative and member-owned  businesses.
The  real  estate lending segment originates and services multi-
family cooperative real  estate loans nationally, with a
concentration in New  York City.  The  warehouse lending segment
originates real estate and commercial loans for sale in the
secondary market. NCB Savings Bank  segment  provides traditional
banking  services  such  as lending   and   deposit  gathering
to  retail,  corporate   and commercial  customers.  "Other"
consists  of  NCB's  unallocated parent company income and expense,
and net interest income  from investments and corporate debt after
allocations to segments.

   NCB  evaluates segment performance based on net income before
taxes. The accounting policies of the segments are substantially
the  same  as  those  described in the  summary  of  significant
accounting  policies in the most recent annual report.  Overhead
and  support  expenses are allocated to each  operating  segment
based  on  number  of employees, and other factors  relevant  to
expenses  incurred.  Also included in overhead  and  support  is
depreciation allocated based on equipment usage.



     The  following is the segment reporting for the six months ended June  30,
  2000 and 1999 (dollars in thousands):
<TABLE>
   <S>                 <C>        <C>          <C>        <C>        <C>
     2000              Commercial  Real Estate  Warehouse                            NCB
                        Lending     Lending      Lending    NCBSB     Other    Consolidated

  Interest income     $  22,565   $  6,487     $  7,142   $  6,283   $  3,298    $   45,775
  Interest expense
   Allocated             18,308      4,589        5,473        -      (28,370)         -
   Direct                  -          -            -         3,809     26,568        30,377
  Net interest income     4,257      1,898        1,669      2,474      5,100        15,398

  Provision(credit)for
   loan losses           10,419         81          -           67    (10,125)          442

  Non-interest income-
   external               1,061        797          568        505          3         2,934

  Non-interest expense
    Direct expense        2,556      1,700          406      1,111      7,841        13,614
    Overhead and support    587        477           81        544     (1,689)         -

  Total non-interest
   expense                3,143      2,177          487      1,655      6,152        13,614

 (Loss) income before
   taxes               $ (8,244)  $    437     $  1,750   $  1,257   $  9,076    $    4,276

 Total average
  assets              $ 573,277   $151,677     $167,808   $164,703   $  74,748   $1,132,213



      1999             Commercial   Real Estate  Warehouse                           NCB
                        Lending      Lending      Lending     NCBSB    Other     Consolidated


 Interest income      $ 17,382     $  4,786      $  7,532   $  5,279  $  3,158   $   38,137
 Interest expense
   Allocated            12,264        3,369         4,983        -     (20,616)        -
   Direct                 -            -             -         3,052    20,287       23,339
 Net interest income     5,118        1,417         2,549      2,227     3,487   $   14,798

 Provision (credit)
  for loan              (1,342)         183          -            85     1,909          835

 Non-interest income-
  external               1,656        1,194         4,554        483      (234)       7,653

 Non-interest expense
   Direct expense        2,572        1,546           767      1,344     7,236       13,466
   Overhead and support    404          135            36        150      (724)        -

 Total non-interest
  expense                2,976        1,681           803      1,494     6,512       13,466

 Income (loss) before
  taxes               $  5,140     $    747      $  6,300   $  1,131  $ (5,168)  $    8,150

 Total average assets $396,804     $137,906      $192,033   $141,576  $133,625   $1,001,944


  The  following is the segment reporting for the three months ended  June  30,
  2000 and 1999 (dollars in thousands):

     2000             Commercial   Real Estate   Warehouse                             NCB
                       Lending      Lending                   NCBSB     Other      Consolidated

  Interest income     $ 11,142     $  3,402      $  3,659   $  3,350   $  2,400    $   23,953
  Interest expense
   Allocated             9,435        2,421         3,180        -      (15,036)         -
   Direct                 -            -             -         2,106    13,993         16,099
  Net interest
   income                1,707          981           479       1,244      3,443        7,854

  Provision (credit)
   for loan losses       4,471           11           -            54     (4,107)         429

  Non-interest income-
   external                404          327           386         279        113        1,509

  Non-interest expense
   Direct expense        1,337          760           194         557      3,688        6,536
   Overhead and support    300          266            39         270          (875)        -
 Total non-interest
  expense                1,637        1,026           233         827      2,813        6,536

 (Loss) income before
   taxes              $ (3,997)    $    271      $    632    $    642   $  4,850   $    2,398

 Total average assets $564,483     $150,243      $157,568    $161,369   $141,082   $1,174,745



      1999            Commercial   Real Estate   Warehouse                               NCB
                       Lending      Lending       Lending       NCBSB       Other    Consolidated

 Interest income      $  9,538     $   2,277     $  2,794     $ 2,842     $  2,183   $   19,634
 Interest expense
  Allocated              6,777         1,651        2,222        -         (10,650)        -
  Direct                  -             -            -          1,598       10,877       12,475
 Net interest income     2,761           626          572       1,244        1,956        7,159

 Provision (credit)
  for loan losses          727           (10)        -             42         (342)         417

 Non-interest income-
  external               1,047         1,044        4,499          232         (810)       6,012

 Non-interest expense
  Direct expense         1,424           871          331         682        3,770        7,079
  Overhead and support     287            67          (16)         75         (444)        -

 Total non-interest
  expense                1,711           938          347         757        3,326        7,079

 Income (loss) before
  taxes               $  1,370      $    748     $  4,719    $    677     $ (1,839)  $    5,675

 Total average assets $407,892      $138,671     $167,997    $151,236     $149,628   $1,015,424

</TABLE>

7. New Accounting Standards

     In June 1998,Statement of Financial Accounting Standards (SFAS) No. 133,
"Accounting for Derivative Instruments and Hedging Activities" was issued
effective for all fiscal periods beginning after June 15, 1999.  In June
1999, SFAS No. 137, "Accounting for Derivative Instruments and Hedging
Activities - Deferral of the Effective Date of SFAS No. 133" was issued to
amend SFAS No. 133 to be effective for all fiscal years beginning after June
15, 2000.  In June 2000, SFAS No. 138,  "Accounting for Certain Derivative
Instruments and Certain Hedging Activities" was issued further amending
SFAS No. 133.  SFAS No. 133 and SFAS No. 138 establish accounting and
reporting standards requiring that every derivative instrument be recorded
in the balance sheet as either an asset or liability measured at its fair
value. The statements require that changes in the derivative's fair value
be recognized currently in earnings unless specific accounting criteria are
met and the hedge is considered to be highly effective.  Special accounting
for qualifying hedges allows a derivative's gains and losses to offset
related results on the hedged item in the income statement, and requires
that a company must formally document, designate, and assess the
effectiveness of transactions that receive hedge accounting.  The
statements are effective for NCB for the fiscal quarter beginning
January 1, 2001.   NCB is currently evaluating the requirements of
these statements to determine the potential impact on the consolidated
financial statements.

8. Subsequent Event

     On August 4, 2000, NCB sold $129.0 million and $14.5 million of
cooperative mortgages and commercial mortgages, respectively, into a $1.1
billion conduit transaction.  The gain on these sales will be reflected in
the third quarter results.



                    NATIONAL COOPERATIVE BANK
              MANAGEMENT'S DISCUSSION AND ANALYSIS
         FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999


SUMMARY

   NCB's net income for the six months ended June 30, 2000 was $3.5
million. This was a 53.2% or $3.9 million decrease compared with
$7.4 million for the six months ended June 30, 1999. The variance resulted
from a decrease of $4.7 million in non-interest income and increases in
non-interest  expense and taxes of $147.8 thousand and $77.9 thousand,
respectively. This was partially offset by an increase in netinterest
income of $600.6 thousand and a decrease of $393.3 thousand in provision for
loan losses. For the three month period ending June 30, 2000, net income
decreased $3.3 million or 62.6% due primarily to a decrease in non-interest
income.

   Total assets were $1.19 billion at June 30, 2000, up 12.8% or $135.1
million from $1.06 billion at December 31, 1999. This resulted from an
increase in loans held for sale and loans and lease financing of $144.2
million partially offset by a decrease in cash and cash equivalents,
restricted cash, investment securities and other assets of $8.7 million.

   The annualized return on average total assets was .61% for the first
six months of 2000 compared with 1.48% for the same period in 1999. The
annualized return on average equity for the periods ended June 30, 2000
and 1999 was 4.67% and 10.38%, respectively.

NET INTEREST INCOME

   Net interest income for the first six months of 2000 was $15.4 million,
an increase of 4.1% or $600.6 thousand compared with $14.8 million over
the same period a year ago.

   For the six months ending June 30, 2000, interest income increased 20.0%
or $7.7 million to $45.8 million from $38.1 million of the prior year's
period. The majority of the increase was due to the growth of commercial
loan and lease portfolios and a higher yield on real estate loans and cash
equivalents and investment securities.  Table 2 shows that increases of
$6.4 million and $1.2 million were volume and yield related, respectively.

   Interest expense increased $7.1 million to $30.4 million for the six
months ended June 30, 2000 compared with $23.3 million for the six months
ended June 30, 1999.  Interest expense was up as a result of higher levels
of notes payable and deposits and higher interest rates on them. The
increased borrowings were required to fund loan volume.  As shown on Table 2,
a $4.3 million increase in interest expense was volume related while a $2.8
million increase was due to interest rates.

   For the six months ended June 30, 2000 and 1999, the average rate on
interest earning assets was 8.28% and 7.92%, respectively. Average rate on
interest bearing liabilities was up 68 basis points to 6.40% for the first
half of 2000 compared with 5.72% for the same period in 1999.

   For the three month period ended June 30, 2000, net interest income went
up 9.7% or $694.6 thousand from the same period in 1999.

   Interest income went up $4.3 million to $24.0 million for the three
months ended June 30, 2000 compared with $19.6 million for the same period
ended June 30, 1999. The increase in interest income was due to a higher
average balance of interest earning assets.

   For the second quarter ended June 30, 2000, interest expense increased
29.1% or $3.6 million to $16.1 million compared with $12.5 million for the
second quarter ended June 30, 1999 due to higher short-term interest rates
and increased funding of loans.  As shown on Table 2A, the increase in
interest expense amounting to $2.5 million was volume related while $1.1
million was yield related.

   For the quarter ended June 30, 2000, the average rate on interest earning
assets was up 28 basis points to 8.34% from 8.06% for the same quarter ended
June 30, 1999.  Average rate on interest bearing liabilities was 6.51% and
5.96% for the periods ended June 30, 2000 and 1999, respectively.


NON-INTEREST INCOME

   Non-interest income for the six months ended June 30, 2000 of $2.9
million decreased 61.7% or $4.8 million from $7.7 million for the same
period last year. Non-interest income is composed of gains from sales of
blanket mortgages and share loans to secondary market investors, servicing
fees, net origination fees on loans sold, management fees and advisory
and debt placement fees.

   For the six months ended June 30, 2000, gain on sale of loans was
$233.0 thousand compared with $3.8 million in the same period last year.
The decrease resulted from the timing and volume of loans sold. Total loans
sold were $55.8 million and $161.1 million for the periods ended June 30,
2000 and 1999, respectively.

   Servicing fee income for the six months ended June 30, 2000 increased
9.7% or $128.2 thousand to $1.45 million compared to $1.32 million in the
prior  year.  NCB serviced single and multi-family real estate and commercial
loans for investors in the amounts of $2.1 billion and $1.9 billion as of
June 30, 2000 and 1999, respectively.

   Other non-interest income for the six months ended June  30, 2000 was
down 51.4% or $1.3 million from $2.6 million for the same six months in the
prior year. Commercial loan fees and income of interest-only receivables were
lower for the first six months of 2000 by $450.5 thousand and $236.0 thousand,
respectively, compared with the same period of the prior year. Additionally,
in the first six months of 1999, NCB received $389.8 thousand as
reimbursement for expenses incurred in the sale of a real estate note.

   For the three month period ending June 30, 2000, non-interest income
decreased 74.9% or $4.5 million to $1.5 million from $6.0 million for the
same period in 1999.  Decreases amounting to $3.5 million was related to
secondary marketing activities and $1.1 million was due to lower commercial
fees and miscellaneous income received and lower income on interest-only
receivables.


NON-INTEREST EXPENSE

   Non-interest expense for the six months ended June 30, 2000 increased
1.1% or $147.8 thousand to $13.6 million compared with $13.5 million for
the six months ended June 30, 1999. Compensation and benefits, the largest
component of non-interest expense, slightly increased .12% or $8.9 thousand.
Contractual services, occupancy and equipment, and other expenses increased
5.9% or $338.9 thousand primarily due to equipment and technology costs,
corporate and marketing development, legal fees and other loan costs.

   Excluding the voluntary contributions to NCB Development Corporation,
which was zero and $200.0 thousand during the first two quarters of 2000
and 1999, respectively, non-interest expense as a percentage of average
assets decreased to 1.2% for the six months ended June 30, 2000 compared
with 1.3% for the same period a year ago.

   For the three months ended June 30, 2000, non-interest expense decreased
7.7% or $543.2 thousand to $6.5 million from $7.1 million for the same period
in 1999.  The variance was primarily due to a decrease in compensation and
employee benefits of $630.4 thousand which was partially offset by an
increase in contractual services of $195.1 thousand.


Table 1
RATE RELATED ASSETS AND LIABILITIES
(dollars in thousands)
<TABLE>
  <S>                    <C>        <C>        <C>     <C>        <C>      <C>
                                          Six Months Ended June 30,
                                     2000                         1999
 ASSETS                   Average   Income/  Yields/    Average  Income/  Yields/
                          Balance   Expenses Rate       Balance  Expense  Rate
 Interest earning
  assets
  Real estate loans      $ 462,519 $18,691    8.08%   $  473,710 $17,678  7.46%
  Commercial loans
   and leases              563,606  24,753    8.78%      402,231  17,752   8.83%

  Total loans and
   leases                1,026,125  43,444    8.47%      875,941  34,430   8.09%

  Investment securities
   and cash equivalents     78,988   2,331    5.90%       87,438   2,707   6.19%

  Total interest earning
   assets                1,105,113  45,775    8.28%      963,379  38,137   7.92%

 Allowance for loan
  losses                   (18,796)                      (18,037)

 Non-interest earning
  assets
  Cash                       4,446                        10,955
  Other assets              41,450                        45,647

  Total non-interest
   earning assets           45,896                        56,602

  Total assets          $1,132,213                    $1,001,944

 LIABILITIES AND MEMBERS' EQUITY
 Interest bearing liabilities
   Subordinated debt    $  182,571 $ 5,441    5.96%   $  182,668 $ 5,119   5.61%
   Notes payable           631,347  21,735    6.89%      507,913  15,379   6.06%
   Deposits                135,315   3,201    4.73%      125,591   2,840   4.52%

   Total interest bearing
    liabilities            949,233  30,377    6.40%      816,172  23,338   5.72%

 Other liabilities          34,415                        42,743
 Members' equity           148,565                       143,029

  Total liabilities
   and members' equity  $1,132,213                    $1,001,944

 Net interest earning
  assets                $  155,880                    $  147,207

 Net interest revenues
  and spread                       $15,398    1.88%              $14,799   2.20%

 Net yield on interest
  earning assets                              2.79%                        3.07%


Table 1A
RATE RELATED ASSETS AND LIABILITIES
(dollars in thousands)
                                         Three Months Ended June 30,
                                     2000                       1999
 ASSETS                  Average    Income/  Yields/  Average   Income/  Yields/
                         Balance    Expenses Rates    Balance   Expenses Rates
 Interest earning
  assets
  Real estate loans     $  482,955  $10,055  8.33%  $  488,965  $ 8,973   7.34%
  Commercial loans
   and leases              584,048   12,808  8.77%     413,230    9,443   9.14%

  Total loans and
   leases                1,067,003   22,863  8.57%     902,195   18,416   8.16%

  Investment securities
   and cash equivalents     82,414    1,090  5.29%      72,122    1,218   6.76%

  Total interest earning
   assets                1,149,417   23,953  8.34%     974,317   19,634   8.06%

 Allowance for loan
  losses                   (18,868)                    (18,355)

 Non-interest earning
  assets
  Cash                       3,923                      11,038
  Other assets              40,273                      48,424

  Total non-interest
   earning assets           44,196                      59,462

  Total assets          $1,174,745                  $1,015,244

 LIABILITIES AND MEMBERS' EQUITY
 Interest bearing liabilities
   Subordinated debt    $  182,541   $ 2,795  6.13% $  182,694    $ 2,531 5.54%
   Notes payable           664,430    11,562  6.96%    529,676      8,554 6.46%
   Deposits                141,923     1,742  4.91%    125,160      1,390 4.44%

   Total interest bearing
    liabilities            988,894    16,099  6.51%    837,530     12,475 5.96%

 Other liabilities          36,607                      33,354
 Members' equity           149,244                     144,540

  Total liabilities and
   members' equity      $1,174,745                  $1,015,424

 Net interest earning
  assets                $  160,523                  $  136,787

 Net interest revenues
  and spread                        $  7,854  1.83%               $ 7,159 2.10%

 Net yield on interest
  earning assets                              2.73%                       2.94%
</TABLE>

Table 2
Changes in Net Interest Income
(dollars in thousands)

For the six months ended June 30, 2000 compared to 1999

                               Increase (decrease) due to  change in:

                                    Average    Average
                                    Volume*     Yield     Net**
 Interest Income

 Cash equivalents and
  investment securities             $ (253)    $  (122)  $ (375)
 Commercial loans and leases         7,088         (87)   7,001
 Real estate loans                    (425)      1,438    1,013

  Total interest income              6,410       1,229    7,639

 Interest expense

 Deposits                              226         135      361
 Notes payable                       4,065       2,290    6,355
 Subordinated debt                      (3)        325      322

  Total interest expense             4,288       2,750    7,038

 Net interest income                $2,122     $(1,521)  $  601

* Average monthly balances
**Changes in interest income and interest expense due to changes in
  rate and volume have been allocated to "change in average volume" and
  "change in average rate" in proportion to the absolute dollar amounts
  in each.


Table 2A
Changes in Net Interest Income
(dollars in thousands)

For the three months ended June 30, 2000 compared to 1999

                              Increase (decrease) due to  change in:

                                    Average    Average
                                    Volume*    Yield    Net**

 Interest Income

 Cash equivalents and
  investment securities             $  159     $  (287) $ (128)
 Commercial loans and leases         3,760        (395)  3,365
 Real estate loans                    (112)      1,194   1,082

  Total interest income              3,807         512   4,319

 Interest expense

 Deposits                              197         155     352
 Notes payable                       2,305         703   3,008
 Subordinated debt                      (2)        266     264

  Total interest expense             2,500       1,124   3,624

 Net interest income                $1,307     $  (612) $  695

* Average monthly balances
**Changes in interest income and interest expense due to changes in
  rate and volume have been allocated to "change in average volume" and
  "change in average rate" in proportion to the absolute dollar amounts
   in each.

PROVISION FOR INCOME TAXES

  The  federal income tax provision is determined on the basis  of
non-member  income generated by NCB Savings Bank, FSB(NCBSB)  and
reserves  set  aside  for the retirement of  Class  A  notes  and
dividends  on Class C stock. NCB's subsidiaries are also  subject
to  varying  levels of state taxation.  The income tax  provision
for  the  six  months  ended June 30, 2000  was  $805.4  thousand
compared with the prior year's provision of $727.6 thousand.

CASH, CASH EQUIVALENTS AND INVESTMENT SECURITIES

  Cash,  cash equivalents and investment securities totaling $75.9
million  at  June 30, 2000 decreased $3.0 million  or  3.9%  from
$78.9  million at year-end 1999.  The decrease was due mostly  to
the  funding  of loans and lease financing.  As a  percentage  of
earning  assets, cash, cash equivalents and investment securities
decreased  to  6.5% at June 30, 2000 from 8.1%  at  December  31,
1999.

ALLOWANCE FOR LOAN LOSSES

  The  allowance for loan losses at June 30, 2000 increased  2.03%
or  $378.9  thousand  to  $19.1 million  from  $18.7  million  at
December  31, 1999. The allowance during the period was  impacted
by  loans charged-off amounting to $480.4 thousand, recoveries of
loans previously charged-off of $417.6 thousand and the provision
of $441.7 thousand. NCB's annualized provision for loan losses as
a percentage of average loans and leases outstanding remained at
 .02% and .2% for the six months ended June 30, 2000 and 1999,
respectively.

  Criticized loans have grown to $42.4 million or 7.8% at June 30,
2000 from 4.3% of the total loans outstanding at December 31, 1999.
The growth in criticized loans came primarily from a package of
retail member loans purchased from a wholesale food cooperative and
declining financial condition of a national hardware wholesaler.

  The  loan  loss  allowance as a percentage of loans  and  leases
decreased  to  1.9% at June 30, 2000 from 2.0%  at  December  31,
1999.  Management considers the current allowance to be  adequate
to absorb known and inherent risks in the loan portfolio.

  As  shown in Table 3, total impaired assets (non-accruing  loans
and  real  estate  owned) decreased 74.5% from  $3.3  million  at
December  31, 1999 to $832.0 thousand at June 30, 2000.  Impaired
assets as a percentage of loans and leases outstanding plus  real
estate  owned  decreased to .08% at June 30, 2000  compared  with
 .34%  at  year-end  1999.  The allowance for  loan  losses  as  a
percentage of impaired assets increased to 2,292.4% at  June  30,
2000 from 572.2% at December 31, 1999.

INTEREST BEARING LIABILITIES

Interest Bearing liabilities
(dollars in thousands)
                              6/30/00    12/31/99    % Change

Deposits                    $  142,482   $126,071     13.0%
Short-term debt                377,598    283,589     33.1%
Long-term debt                 304,151    286,263      6.2%
Subordinated debt              182,498    182,620      0.0%

 Total                      $1,006,729   $878,543     14.6%

  Interest  bearing liabilities increased $128.2 million  to  $1.0
billion  at  June  30, 2000 from $878.5 million at  December  31,
1999.

  For the six months of 2000, deposits at NCBSB grew 13.0% to
$142.5 million compared with $126.1 million at December 31, 1999.
The growth was due to local and national depositors and deposits
from cooperatives customers. Average maturity of the certificates
of deposits  is 12.4 months. Funds generated by the increased
deposit activity were used to originate single-family loans and
increase liquidity.

  At  June  30,  2000,  total short-term and long-term  borrowings
(including  subordinated debt) increased 14.9% or $111.8  million
to  $864.2 million in comparison to prior year-end 1999 of $752.5
million. Proceeds from the borrowings were used to fund growth in
loans  and leases. At June 30, 2000, and December 31, 1999, NCBSB
had  advances  of $29.0 million and $15.0 million,  respectively,
from  the Federal Home Loan Bank. NCB had $348.6 million,  net
of  discount  and $268.6 million, net of discount outstanding on
its short-term facilities at June 30, 2000 and December 31, 1999,
respectively.  At  June  30,  2000, included  in  the short-term
borrowings were revolving  lines  of credit  of $90.5 million;
commercial paper with a face  value  of $245.2  million  and
$13.5 million in borrowing  from  a  related entity  and
cooperative customers. At December 31, 1999, included in  the
short-term borrowing were revolving lines of  credit  of $79.5
million; commercial paper with face value of $172.4 million
and  $17.2  million  in  borrowings from  a  related  entity  and
cooperative customers. Long-term debt increased 6.2%  from  year-
end  1999  due to the issuance of an additional $50.0 million  in
medium  term  notes, net of a maturity payment of  $32.0  million
under  the  long-term  facilities. At June 30,  2000,  there  was
unused  capacity  under  short-term and long-term  facilities  of
approximately $88.3 million and $300.0 million, respectively.  At
December 31, 1999, unused capacity under the short-term and long-
term   facilities   was  $183.3  million  and   $350.0   million,
respectively.


TABLE 3
Impaired assets
(dollars in thousands)

                  June 30,  March 31, Dec. 31,  Sept. 30, June 30,
                    2000     2000      1999      1999      1999

Real estate owned $  125    $2,687    $2,687    $2,893   $3,334

Non-accruing         707       795       580       685      701

                  $  832    $3,482    $3,267    $3,578   $4,035


YEAR 2000

   NCB  undertook  many actions intended  to  assure  that  its
computer  systems and other equipment were capable of functioning
in,  and  processing for, periods for the Year 2000  and  beyond.
NCB  experienced  no  operational problems as  a  result  of  the
changeover  of  the date 1999 to 2000. NCB has  not  incurred  to
date,  and  does not expect to incur in the future, any  material
expenditures  in  connection  with  identifying,  evaluating   or
remediating   Year   2000  compliance  issues.    Most   of   its
expenditures to date have related to the opportunity cost of time
spent  by  NCB's employees evaluating and remediating  Year  2000
issues  for  the  hardware and software products  purchased,  the
information  technology  used in its operations  and  its  non-IT
Systems or embedded technology, such as building security,  phone
system  and  other  systems. Direct costs incurred  by  NCB  have
totaled  approximately $55,000. NCB did not incur any  Year  2000
expenses in the six months ended June 30, 2000.

   As  of  June 30, 2000, NCB has not experienced any  material
consequences  of failure of Year 2000 compliance, either  by  the
Company,  its  suppliers,  and  customers.   However,  Year  2000
compliance has many elements and potential consequences, some  of
which  may  not  be  foreseeable or may  be  realized  in  future
periods.   Therefore,  there can be no assurance  that  unforseen
circumstances could still not arise, or that NCB will not in  the
future  identify  equipment or systems which are  not  Year  2000
compliant.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

   No material changes in NCB's market risk profile occurred
from December 31, 1999 to June 30, 2000.

ITEM 6. EXHIBITS

 (a)  The following exhibit is filed as part of this report:

        Exhibit 10-30 - Amendment No. 3 to Third Amended and
        Restated Loan Agreement with Fleet Bank as Agent

        Exhibit 27 -  Financial Data Schedule


                            SIGNATURE

  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 there unto duly authorized.


               NATIONAL CONSUMER COOPERATIVE BANK

Date:

                                  By:/s/Richard L. Reed
                                     Richard L. Reed,
                                     Managing Director,
                                     Chief Financial Officer



                                  By:/s/Marietta J. Orcino
                                     Marietta J. Orcino
                                     Vice President, Tax &
                                     Regulatory Compliance
[{"type": "10-Q", "sequence": "1", "filename": "0001.txt", "secsgml_size_bytes": 51318}]
{"company-data": {"conformed-name": "NATIONAL CONSUMER COOPERATIVE BANK /DC/", "cik": "0000356801", "assigned-sic": "6141", "irs-number": "521157795", "state-of-incorporation": "DC", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "10-Q", "act": "34", "file-number": "002-99779", "film-number": "700304"}, "business-address": {"street1": "1401 EYE ST N W", "city": "WASHINGTON", "state": "DC", "zip": "20005", "phone": "2023367731"}, "mail-address": {"street1": "1401 EYE ST NW", "city": "WASHINGTON", "state": "DC", "zip": "20005"}, "former-company": [{"former-conformed-name": "NATIONAL COOPERATIVE BANK", "date-changed": "19890808"}, {"former-conformed-name": "NATIONAL CONSUMER COOPERATIVE BANK", "date-changed": "19880804"}]}
FORM 10-Q
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

           QUARTERLY REPORT UNDER SECTION 13 or 15(d)
             OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarter ended June 30, 2000 Commission file number 2-99779

               National Consumer Cooperative Bank
     (Exact name of registrant as specified in its charter)

   United States of America                    52-1157795
(12 U.S.C. Section 3001 et seq.)            (I.R.S. Employer
(State or other jurisdiction of              Identification No.)
 incorporation or organization)

     1401 Eye Street, NW, Suite 700, Washington, D.C.  20005
            (Address of principal executive offices)

Registrant's telephone number, including area code (202)336-7700

     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 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        .

     Indicate  the number of shares outstanding of each  of  the
issuer's classes  of common stock, as of the latest practicable
date.

                                   Outstanding at June 30, 2000

     Class C                                      222,733
(Common stock, $100.00 par value)

     Class B                                      997,104
(Common stock, $100.00 par value)

     Class D                                            3
(Common stock, $100.00 par value)

              National Consumer Cooperative Bank
          (doing business as National Cooperative Bank)
                        and Subsidiaries

                             INDEX

PART I  FINANCIAL INFORMATION
                                                        Page No.

Item 1    Consolidated balance sheets - June 30,
          2000 and December 31, 1999 ............           3

          Consolidated statements of income - for
          the three and six months ended June 30, 2000
          and 1999...............................           4

          Consolidated statements of comprehensive
          income - for the six months ended
          June 30, 2000 and 1999.................           5

          Consolidated statements of cash flows -
          for the six months ended June 30, 2000
          and 1999...............................          6-7

          Condensed notes to the consolidated
          financial statements - June 30, 2000...          8-17

Item 2    Management's discussion and analysis
          of financial condition and results of
          operations - for the three and six months
          ended June 30, 2000 and 1999...........          18-28

Item 3    Quantitative and qualitative disclosures
          about market risk .....................          28

                    PART II OTHER INFORMATION

Item 6    Exhibits .............................           29

          Exhibit 10-30 - Amendment No. 3 to Third
          Amended and Restated Loan Agreement with
          Fleet Bank as Agent

          Exhibit 27 - Financial Data Schedule

                    NATIONAL COOPERATIVE BANK
                   CONSOLIDATED BALANCE SHEETS
               June 30, 2000 and December 31, 1999
                               (Unaudited)

                                        June 30,        December 31,
Assets                                    2000              1999
Cash and cash equivalents          $   28,984,637    $   29,910,037
Restricted cash                         4,857,607         4,887,213
Investment securities
  Available-for-sale                   44,166,980        46,283,045
  Held-to-maturity                      2,710,244         2,710,191

Loans held for sale                   207,788,526       132,057,978
Loans and lease financing             884,320,739       815,840,439
 Less: Allowance for loan loss        (19,072,553)      (18,693,670)
 Net loans held for sale and
   loans and lease financing        1,073,036,712       929,204,747

Other assets                           37,869,628        43,514,663

  Total assets                     $1,191,625,808    $1,056,509,896

Liabilities and Members' Equity
Liabilities
Deposits                           $  142,482,158    $  126,071,259
Patronage dividends payable
 in cash                                6,774,313         5,642,040
Other liabilities                      28,359,754        25,041,359
Borrowings
  Short-term                          377,598,417       283,589,354
  Long-term                           304,151,219       286,262,870
                                      681,749,636       569,852,224

  Subordinated debt                   182,498,076       182,620,212

  Total borrowings                    864,247,712       752,472,436

  Total liabilities                 1,041,863,937       909,227,094

Members' equity
Common stock
  Class B                              99,710,414        99,879,531
  Class C                              22,273,318        22,380,663
  Class D                                     300               300
Retained earnings
  Allocated                            10,625,057         9,203,865
  Unallocated                          17,368,655        16,682,644
Accumulated other comprehensive
  income                                 (215,873)         (864,201)

   Total members' equity              149,761,871       147,282,802

   Total liabilities and members'
    equity                         $1,191,625,808    $1,056,509,896

                    NATIONAL COOPERATIVE BANK
                CONSOLIDATED STATEMENTS OF INCOME
                           (Unaudited)
Six Months Ended           Three Months Ended
                                              June 30,                  June 30,
                                        2000          1999         2000         1999
Interest income
  Loans and lease financing         $43,443,662   $35,429,714  $22,862,582   $18,415,896
  Investments securities              2,331,643     2,706,871    1,090,231     1,218,099

   Total interest income             45,775,305    38,136,585   23,952,813    19,633,995

Interest expense
  Deposits                           3,200,690      2,840,310    1,742,364     1,389,586
  Short-term borrowings             10,547,178      7,178,910    5,841,421     3,595,484
  Long-term debt, other borrowings
   and subordinated debt            16,629,159     13,319,661    8,515,237     7,489,756

   Total interest expense           30,377,027     23,338,881   16,099,022    12,474,826

   Net interest income              15,398,278     14,797,704    7,853,791     7,159,169

Provision for loan losses              441,667        835,036      429,167       417,536
   Net interest income after
    provision for loan losses       14,956,611     13,962,668    7,424,624     6,741,633

Non-interest income
  Gain on sale of loans                232,994      3,756,363      237,063     3,691,893
  Loan and deposit servicing fees    1,447,851      1,319,608      635,918       599,013
  Other                              1,252,468      2,577,823      636,156     1,721,661

   Total non-interest income         2,933,313      7,653,794    1,509,137     6,012,567

Non-interest expense
  Compensation and
   employee benefits                 7,487,420      7,478,528    3,234,188     3,864,642
  Contractual services               2,286,910      2,105,342    1,233,438     1,038,296
  Occupancy and equipment            2,519,984      2,281,927    1,278,394     1,232,147
  Contribution to NCB
   Development Corporation              -             200,000       -            150,000
  Other                              1,319,459      1,400,216      789,664       793,836
  Total non-interest expense        13,613,773     13,466,013    6,535,684     7,078,921

Income before income taxes           4,276,151      8,150,449    2,398,077     5,675,279

Provision for income taxes             805,457        727,596      427,193       403,182

Net income                         $ 3,470,694    $ 7,422,853  $ 1,970,884   $ 5,272,097

Distribution of net income
  Patronage dividends              $ 3,470,694    $ 7,422,853  $ 1,970,884   $ 5,272,097
  Retained earnings                     -              -            -             -
                                   $ 3,470,694    $ 7,422,853  $ 1,970,884   $ 5,272,097
NATIONAL COOPERATIVE BANK
         CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                           (Unaudited)

For the six months ended June 30,              2000        1999

Net income                                 $3,470,694  $7,422,853

Other comprehensive income, net of tax:
  Net unrealized holding
   gains before tax                           648,328   1,317,045

Comprehensive income                       $4,119,022  $8,739,898

                    NATIONAL COOPERATIVE BANK
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)

For the six months ended June 30,           2000           1999

Cash flows from operating activities
Net income                            $   3,470,694  $   7,422,853
Adjustments to reconcile net
 income to net cash used in
 operating activities
  Provision for loan losses                 441,667        835,035
  Depreciation and amortization           3,432,986      2,802,052
  Gain on sale of loans                    (232,994)    (4,345,651)
  Loans originated for sale            (115,896,466)  (143,984,908)
  Proceeds from sale of loans
   held for sale                         40,398,910    131,774,082
  Decrease (increase) in other
   assets                                 2,826,011     (6,868,407)
  Increase (decrease) in other
   liabilities                            3,026,290    (11,458,739)

Net cash used in operating
 activities                             (62,532,902)   (23,823,683)

Cash flows from investing activities
  Decrease in restricted cash                29,606      7,512,629
  Purchase of investment securities
   Available-for-sale                    (2,260,916)    (1,000,000)
  Proceeds from maturities of
   investments securities
   Available-for-sale                     2,752,681      6,558,083
   Held-to-maturity                          -             165,596
  Net increases in loans and lease
   financing                            (80,564,806)  (191,831,996)
  Proceeds from sale of portfolio
   loans                                 13,823,937     10,483,123
  Purchases of premises and equipment       (73,460)      (421,096)

Net cash used in investing activities   (66,292,958)  (168,533,661)

Cash flows from financing activities
  Net increase (decrease) in deposits    16,410,899     (4,457,641)
  Net increase in short-term borrowings  94,009,063    146,401,341
  Proceeds from issuance of long-term
   debt                                  49,768,128     45,000,000
  Repayment on long term debt           (32,000,000)   (20,000,000)
  Dividends paid                           (287,630)      (250,848)

Net cash provided by financing
 activities                             127,900,460    166,692,852

Decrease in cash and cash equivalents      (925,400)   (25,664,492)

Cash and cash equivalents, beginning
 of year                                 29,910,037     66,563,160

Cash and cash equivalents, end of
 period                               $  28,984,637  $  40,898,668

                    NATIONAL COOPERATIVE BANK
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)

Supplemental schedule of investing and financing activities:

For the six months ended June 30,          2000             1999

Unrealized gain on investment
   available-for-sale                 $   648,328       $ 1,317,045

Interest paid                         $29,247,787       $23,374,647

Income taxes paid                     $   731,970       $   614,694

                    NATIONAL COOPERATIVE BANK
               CONDENSED NOTES TO THE CONSOLIDATED
                      FINANCIAL STATEMENTS
                          June 30, 2000
                           (Unaudited)

    The  accompanying  financial statements  have  been  prepared
without  audit  and reflect all adjustments (consisting  only  of
normal  recurring  adjustments) which were,  in  the  opinion  of
management, necessary to a fair statement of the results  of  the
interim  period  presented.   Certain  information  and  footnote
disclosures normally included in financial statements prepared in
accordance  with  generally accepted accounting  principles  have
been   condensed   or  omitted.   Accordingly,  these   condensed
financial  statements  should be read  in  conjunction  with  the
financial  statements and the notes thereto included in  National
Cooperative  Bank's  (NCB's)  most  current  annual  report.  The
results of operations for the interim periods are not necessarily
indicative of the results of the entire year.

1.  Cash, Cash Equivalents and Investment Securities

  As of June 30, 2000,  NCB's  portfolios  of   investment
securities,  cash  and cash equivalents had an  average  adjusted
maturity of approximately 2.6 years with interest rates in  those
portfolios varying from 5.23% to 8.13%.

                             Cash and      Investments  Investments
                              Cash         Available-    Held-to-
                             Equivalents     for-Sale    Maturity

  Cash                       $ 2,868,539   $    -       $   -
  Federal funds               15,921,664        -           -
  Money market securities      9,844,434       752,518      -
     Private debt security        -             -          767,931
  Mutual funds                    -          1,794,353      -
  Certificates of deposit        350,000        -           -
  Mortgage-backed
      securities                  -             -        1,942,313
  Corporate bonds                 -          4,689,913      -
  U.S. Treasury and Agency
    obligations                   -         17,607,645      -
  Interest-only receivables       -         19,322,551      -

                             $28,984,637   $44,166,980  $2,710,244

  As of December 31, 1999, NCB's portfolios of investment
  securities, cash and cash equivalents were comprised of the
  following:

                              Cash and    Investments  Investments
                               Cash        Available-   Held-to-
                            Equivalents     for-Sale    Maturity

  Cash                      $ 3,407,537   $    -       $    -
  Federal funds              11,763,202        -            -
  Money market securities    14,389,298     1,039,318       -
     Private debt security       -             -           767,878
  Mutual funds                   -          1,221,719       -
  Certificates of deposit       350,000        -            -
  Mortgage-backed
      securities                 -             -         1,942,313
  Corporate bonds                -          4,721,038       -
  U.S. Treasury and Agency
    obligations                  -         18,447,345       -
  Interest-only receivables      -         20,853,625       -

                            $29,910,037   $46,283,045   $2,710,191

     At  June 30, 2000 and December 31, 1999, the investments in
the available-for-sale portfolio were recorded at aggregate fair
value.

   Restricted cash of $4,857,607 and $4,887,213 at June 30,  2000
and  December 31, 1999, respectively is held by a trustee for the
benefit  of certificate holders in the event of a loss on certain
loans  sold  in 1992 and 1993. At June 30, 2000 and December  31,
1999,  the  combined  remaining balance of 1992  and  1993  loans
totaled $38,955,317 and $56,967,101, respectively. The restricted
cash  will  become  available to NCB I,  Inc.  as  the  principal
balance  of the respective loans decreases. The loans  sold  have
original maturities of ten to fifteen years.

   Interest-only  receivables substantially  pertain  to  blanket
loans to cooperative housing corporations.

2.  Loans and Lease Financing

  Loans and leases outstanding by category were as follows:

                                    June 30, 2000  December 31,1999

     Commercial loans              $  537,850,646   $470,913,210
     Lease financing                   57,590,393     60,104,256
     Real estate loans
       Residential                    486,831,096    408,204,055
       Commercial                       9,837,130      8,676,896

                                   $1,092,109,265   $947,898,417

  At  June  30,  2000 and December 31, 1999, loans held  for  sale
were $207.8 million and $132.1 million, respectively.

3.    Impaired Assets

  Impaired  loans, representing the nonaccrual loans at June  30,
2000  and  December  31,  1999, totaled  $707,259  and  $580,311,
respectively,  and  averaged $744,500 and $1,084,000  during  the
respective periods ending on these dates. Specific allowances  of
$343,600  and  $239,911 were established at  June  30,  2000  and
December  31,  1999,  respectively. During  2000  and  1999,  the
interest collected on the nonaccrual loans was applied to  reduce
the outstanding principal.

  At  June  30,  2000  and  December  31,  1999,  there  were  no
commitments to lend additional funds to borrowers whose loans are
impaired.

  At  June  30,  2000 and December 31, 1999, NCB had real  estate
acquired   through  foreclosure  of  $125,007   and   $2,686,747,
respectively, which is classified as other assets.

4.    Allowance for Loan Losses

  The  following  is a summary of the activity in  the  allowance
for loan losses during the six months ended June 30, 2000:

  Balance at January 1, 2000           $18,693,670
  Provision for loan losses                441,667
  Charge-offs                             (480,355)
  Recoveries of loans previously
    charged-off                            417,571

  Balance at June 30, 2000             $19,072,553

  The  allowance for loan losses as a percentage of average loans
and lease financing at June 30, 2000 was 1.8%.

5.   Statement of Changes in Members' Equity

  The following is a summary of the activity in members' equity at June 30,
2000:
Retained    Retained                   Total
                             Common    Earnings     Earnings     Unrealized   Members'
                              Stock    Allocated   Unallocated   (Loss) Gain  Equity

Balance, December 31, 1999 $122,260,494 $ 9,203,865 $16,682,644   $ (864,201) $147,282,802
Net income                       -           -        3,470,694       -          3,470,694
Other dividends declared         -           -         (292,107)      -           (292,107)
Cancellation and redemption
  of stock                     (276,462)     -           91,409       -            185,053)
2000 patronage dividends
  to be distributed in cash      -           -       (1,162,793)      -         (1,162,793)
Retained in form of equity       -        1,421,192  (1,421,192)      -             -
Unrealized gain on investment
  securities available-for-
  sale                          -           -           -           648,328       648,328

Balance, June 30, 2000     $121,984,032 $10,625,057 $17,368,655   $ (215,873)$149,761,871
6. Segment Reporting

   NCB's  reportable segments are strategic business units  that
provide  diverse  products  and services  within  the  financial
services  industry. NCB has five reportable segments: commercial
lending,  real estate lending, warehouse  lending,  NCB  Savings
Bank   and   other.  The  commercial  lending  segment  provides
financial  services to cooperative and member-owned  businesses.
The  real  estate lending segment originates and services multi-
family cooperative real  estate loans nationally, with a
concentration in New  York City.  The  warehouse lending segment
originates real estate and commercial loans for sale in the
secondary market. NCB Savings Bank  segment  provides traditional
banking  services  such  as lending   and   deposit  gathering
to  retail,  corporate   and commercial  customers.  "Other"
consists  of  NCB's  unallocated parent company income and expense,
and net interest income  from investments and corporate debt after
allocations to segments.

   NCB  evaluates segment performance based on net income before
taxes. The accounting policies of the segments are substantially
the  same  as  those  described in the  summary  of  significant
accounting  policies in the most recent annual report.  Overhead
and  support  expenses are allocated to each  operating  segment
based  on  number  of employees, and other factors  relevant  to
expenses  incurred.  Also included in overhead  and  support  is
depreciation allocated based on equipment usage.

     The  following is the segment reporting for the six months ended June  30,
  2000 and 1999 (dollars in thousands):
2000              Commercial  Real Estate  Warehouse                            NCB
                        Lending     Lending      Lending    NCBSB     Other    Consolidated

  Interest income     $  22,565   $  6,487     $  7,142   $  6,283   $  3,298    $   45,775
  Interest expense
   Allocated             18,308      4,589        5,473        -      (28,370)         -
   Direct                  -          -            -         3,809     26,568        30,377
  Net interest income     4,257      1,898        1,669      2,474      5,100        15,398

  Provision(credit)for
   loan losses           10,419         81          -           67    (10,125)          442

  Non-interest income-
   external               1,061        797          568        505          3         2,934

  Non-interest expense
    Direct expense        2,556      1,700          406      1,111      7,841        13,614
    Overhead and support    587        477           81        544     (1,689)         -

  Total non-interest
   expense                3,143      2,177          487      1,655      6,152        13,614

 (Loss) income before
   taxes               $ (8,244)  $    437     $  1,750   $  1,257   $  9,076    $    4,276

 Total average
  assets              $ 573,277   $151,677     $167,808   $164,703   $  74,748   $1,132,213

      1999             Commercial   Real Estate  Warehouse                           NCB
                        Lending      Lending      Lending     NCBSB    Other     Consolidated

 Interest income      $ 17,382     $  4,786      $  7,532   $  5,279  $  3,158   $   38,137
 Interest expense
   Allocated            12,264        3,369         4,983        -     (20,616)        -
   Direct                 -            -             -         3,052    20,287       23,339
 Net interest income     5,118        1,417         2,549      2,227     3,487   $   14,798

 Provision (credit)
  for loan              (1,342)         183          -            85     1,909          835

 Non-interest income-
  external               1,656        1,194         4,554        483      (234)       7,653

 Non-interest expense
   Direct expense        2,572        1,546           767      1,344     7,236       13,466
   Overhead and support    404          135            36        150      (724)        -

 Total non-interest
  expense                2,976        1,681           803      1,494     6,512       13,466

 Income (loss) before
  taxes               $  5,140     $    747      $  6,300   $  1,131  $ (5,168)  $    8,150

 Total average assets $396,804     $137,906      $192,033   $141,576  $133,625   $1,001,944

  The  following is the segment reporting for the three months ended  June  30,
  2000 and 1999 (dollars in thousands):

     2000             Commercial   Real Estate   Warehouse                             NCB
                       Lending      Lending                   NCBSB     Other      Consolidated

  Interest income     $ 11,142     $  3,402      $  3,659   $  3,350   $  2,400    $   23,953
  Interest expense
   Allocated             9,435        2,421         3,180        -      (15,036)         -
   Direct                 -            -             -         2,106    13,993         16,099
  Net interest
   income                1,707          981           479       1,244      3,443        7,854

  Provision (credit)
   for loan losses       4,471           11           -            54     (4,107)         429

  Non-interest income-
   external                404          327           386         279        113        1,509

  Non-interest expense
   Direct expense        1,337          760           194         557      3,688        6,536
   Overhead and support    300          266            39         270          (875)        -
 Total non-interest
  expense                1,637        1,026           233         827      2,813        6,536

 (Loss) income before
   taxes              $ (3,997)    $    271      $    632    $    642   $  4,850   $    2,398

 Total average assets $564,483     $150,243      $157,568    $161,369   $141,082   $1,174,745

      1999            Commercial   Real Estate   Warehouse                               NCB
                       Lending      Lending       Lending       NCBSB       Other    Consolidated

 Interest income      $  9,538     $   2,277     $  2,794     $ 2,842     $  2,183   $   19,634
 Interest expense
  Allocated              6,777         1,651        2,222        -         (10,650)        -
  Direct                  -             -            -          1,598       10,877       12,475
 Net interest income     2,761           626          572       1,244        1,956        7,159

 Provision (credit)
  for loan losses          727           (10)        -             42         (342)         417

 Non-interest income-
  external               1,047         1,044        4,499          232         (810)       6,012

 Non-interest expense
  Direct expense         1,424           871          331         682        3,770        7,079
  Overhead and support     287            67          (16)         75         (444)        -

 Total non-interest
  expense                1,711           938          347         757        3,326        7,079

 Income (loss) before
  taxes               $  1,370      $    748     $  4,719    $    677     $ (1,839)  $    5,675

 Total average assets $407,892      $138,671     $167,997    $151,236     $149,628   $1,015,424
7. New Accounting Standards

     In June 1998,Statement of Financial Accounting Standards (SFAS) No. 133,
"Accounting for Derivative Instruments and Hedging Activities" was issued
effective for all fiscal periods beginning after June 15, 1999.  In June
1999, SFAS No. 137, "Accounting for Derivative Instruments and Hedging
Activities - Deferral of the Effective Date of SFAS No. 133" was issued to
amend SFAS No. 133 to be effective for all fiscal years beginning after June
15, 2000.  In June 2000, SFAS No. 138,  "Accounting for Certain Derivative
Instruments and Certain Hedging Activities" was issued further amending
SFAS No. 133.  SFAS No. 133 and SFAS No. 138 establish accounting and
reporting standards requiring that every derivative instrument be recorded
in the balance sheet as either an asset or liability measured at its fair
value. The statements require that changes in the derivative's fair value
be recognized currently in earnings unless specific accounting criteria are
met and the hedge is considered to be highly effective.  Special accounting
for qualifying hedges allows a derivative's gains and losses to offset
related results on the hedged item in the income statement, and requires
that a company must formally document, designate, and assess the
effectiveness of transactions that receive hedge accounting.  The
statements are effective for NCB for the fiscal quarter beginning
January 1, 2001.   NCB is currently evaluating the requirements of
these statements to determine the potential impact on the consolidated
financial statements.

8. Subsequent Event

     On August 4, 2000, NCB sold $129.0 million and $14.5 million of
cooperative mortgages and commercial mortgages, respectively, into a $1.1
billion conduit transaction.  The gain on these sales will be reflected in
the third quarter results.

                    NATIONAL COOPERATIVE BANK
              MANAGEMENT'S DISCUSSION AND ANALYSIS
         FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999

SUMMARY

   NCB's net income for the six months ended June 30, 2000 was $3.5
million. This was a 53.2% or $3.9 million decrease compared with
$7.4 million for the six months ended June 30, 1999. The variance resulted
from a decrease of $4.7 million in non-interest income and increases in
non-interest  expense and taxes of $147.8 thousand and $77.9 thousand,
respectively. This was partially offset by an increase in netinterest
income of $600.6 thousand and a decrease of $393.3 thousand in provision for
loan losses. For the three month period ending June 30, 2000, net income
decreased $3.3 million or 62.6% due primarily to a decrease in non-interest
income.

   Total assets were $1.19 billion at June 30, 2000, up 12.8% or $135.1
million from $1.06 billion at December 31, 1999. This resulted from an
increase in loans held for sale and loans and lease financing of $144.2
million partially offset by a decrease in cash and cash equivalents,
restricted cash, investment securities and other assets of $8.7 million.

   The annualized return on average total assets was .61% for the first
six months of 2000 compared with 1.48% for the same period in 1999. The
annualized return on average equity for the periods ended June 30, 2000
and 1999 was 4.67% and 10.38%, respectively.

NET INTEREST INCOME

   Net interest income for the first six months of 2000 was $15.4 million,
an increase of 4.1% or $600.6 thousand compared with $14.8 million over
the same period a year ago.

   For the six months ending June 30, 2000, interest income increased 20.0%
or $7.7 million to $45.8 million from $38.1 million of the prior year's
period. The majority of the increase was due to the growth of commercial
loan and lease portfolios and a higher yield on real estate loans and cash
equivalents and investment securities.  Table 2 shows that increases of
$6.4 million and $1.2 million were volume and yield related, respectively.

   Interest expense increased $7.1 million to $30.4 million for the six
months ended June 30, 2000 compared with $23.3 million for the six months
ended June 30, 1999.  Interest expense was up as a result of higher levels
of notes payable and deposits and higher interest rates on them. The
increased borrowings were required to fund loan volume.  As shown on Table 2,
a $4.3 million increase in interest expense was volume related while a $2.8
million increase was due to interest rates.

   For the six months ended June 30, 2000 and 1999, the average rate on
interest earning assets was 8.28% and 7.92%, respectively. Average rate on
interest bearing liabilities was up 68 basis points to 6.40% for the first
half of 2000 compared with 5.72% for the same period in 1999.

   For the three month period ended June 30, 2000, net interest income went
up 9.7% or $694.6 thousand from the same period in 1999.

   Interest income went up $4.3 million to $24.0 million for the three
months ended June 30, 2000 compared with $19.6 million for the same period
ended June 30, 1999. The increase in interest income was due to a higher
average balance of interest earning assets.

   For the second quarter ended June 30, 2000, interest expense increased
29.1% or $3.6 million to $16.1 million compared with $12.5 million for the
second quarter ended June 30, 1999 due to higher short-term interest rates
and increased funding of loans.  As shown on Table 2A, the increase in
interest expense amounting to $2.5 million was volume related while $1.1
million was yield related.

   For the quarter ended June 30, 2000, the average rate on interest earning
assets was up 28 basis points to 8.34% from 8.06% for the same quarter ended
June 30, 1999.  Average rate on interest bearing liabilities was 6.51% and
5.96% for the periods ended June 30, 2000 and 1999, respectively.

NON-INTEREST INCOME

   Non-interest income for the six months ended June 30, 2000 of $2.9
million decreased 61.7% or $4.8 million from $7.7 million for the same
period last year. Non-interest income is composed of gains from sales of
blanket mortgages and share loans to secondary market investors, servicing
fees, net origination fees on loans sold, management fees and advisory
and debt placement fees.

   For the six months ended June 30, 2000, gain on sale of loans was
$233.0 thousand compared with $3.8 million in the same period last year.
The decrease resulted from the timing and volume of loans sold. Total loans
sold were $55.8 million and $161.1 million for the periods ended June 30,
2000 and 1999, respectively.

   Servicing fee income for the six months ended June 30, 2000 increased
9.7% or $128.2 thousand to $1.45 million compared to $1.32 million in the
prior  year.  NCB serviced single and multi-family real estate and commercial
loans for investors in the amounts of $2.1 billion and $1.9 billion as of
June 30, 2000 and 1999, respectively.

   Other non-interest income for the six months ended June  30, 2000 was
down 51.4% or $1.3 million from $2.6 million for the same six months in the
prior year. Commercial loan fees and income of interest-only receivables were
lower for the first six months of 2000 by $450.5 thousand and $236.0 thousand,
respectively, compared with the same period of the prior year. Additionally,
in the first six months of 1999, NCB received $389.8 thousand as
reimbursement for expenses incurred in the sale of a real estate note.

   For the three month period ending June 30, 2000, non-interest income
decreased 74.9% or $4.5 million to $1.5 million from $6.0 million for the
same period in 1999.  Decreases amounting to $3.5 million was related to
secondary marketing activities and $1.1 million was due to lower commercial
fees and miscellaneous income received and lower income on interest-only
receivables.

NON-INTEREST EXPENSE

   Non-interest expense for the six months ended June 30, 2000 increased
1.1% or $147.8 thousand to $13.6 million compared with $13.5 million for
the six months ended June 30, 1999. Compensation and benefits, the largest
component of non-interest expense, slightly increased .12% or $8.9 thousand.
Contractual services, occupancy and equipment, and other expenses increased
5.9% or $338.9 thousand primarily due to equipment and technology costs,
corporate and marketing development, legal fees and other loan costs.

   Excluding the voluntary contributions to NCB Development Corporation,
which was zero and $200.0 thousand during the first two quarters of 2000
and 1999, respectively, non-interest expense as a percentage of average
assets decreased to 1.2% for the six months ended June 30, 2000 compared
with 1.3% for the same period a year ago.

   For the three months ended June 30, 2000, non-interest expense decreased
7.7% or $543.2 thousand to $6.5 million from $7.1 million for the same period
in 1999.  The variance was primarily due to a decrease in compensation and
employee benefits of $630.4 thousand which was partially offset by an
increase in contractual services of $195.1 thousand.

Table 1
RATE RELATED ASSETS AND LIABILITIES
(dollars in thousands)
Six Months Ended June 30,
                                     2000                         1999
 ASSETS                   Average   Income/  Yields/    Average  Income/  Yields/
                          Balance   Expenses Rate       Balance  Expense  Rate
 Interest earning
  assets
  Real estate loans      $ 462,519 $18,691    8.08%   $  473,710 $17,678  7.46%
  Commercial loans
   and leases              563,606  24,753    8.78%      402,231  17,752   8.83%

  Total loans and
   leases                1,026,125  43,444    8.47%      875,941  34,430   8.09%

  Investment securities
   and cash equivalents     78,988   2,331    5.90%       87,438   2,707   6.19%

  Total interest earning
   assets                1,105,113  45,775    8.28%      963,379  38,137   7.92%

 Allowance for loan
  losses                   (18,796)                      (18,037)

 Non-interest earning
  assets
  Cash                       4,446                        10,955
  Other assets              41,450                        45,647

  Total non-interest
   earning assets           45,896                        56,602

  Total assets          $1,132,213                    $1,001,944

 LIABILITIES AND MEMBERS' EQUITY
 Interest bearing liabilities
   Subordinated debt    $  182,571 $ 5,441    5.96%   $  182,668 $ 5,119   5.61%
   Notes payable           631,347  21,735    6.89%      507,913  15,379   6.06%
   Deposits                135,315   3,201    4.73%      125,591   2,840   4.52%

   Total interest bearing
    liabilities            949,233  30,377    6.40%      816,172  23,338   5.72%

 Other liabilities          34,415                        42,743
 Members' equity           148,565                       143,029

  Total liabilities
   and members' equity  $1,132,213                    $1,001,944

 Net interest earning
  assets                $  155,880                    $  147,207

 Net interest revenues
  and spread                       $15,398    1.88%              $14,799   2.20%

 Net yield on interest
  earning assets                              2.79%                        3.07%

Table 1A
RATE RELATED ASSETS AND LIABILITIES
(dollars in thousands)
                                         Three Months Ended June 30,
                                     2000                       1999
 ASSETS                  Average    Income/  Yields/  Average   Income/  Yields/
                         Balance    Expenses Rates    Balance   Expenses Rates
 Interest earning
  assets
  Real estate loans     $  482,955  $10,055  8.33%  $  488,965  $ 8,973   7.34%
  Commercial loans
   and leases              584,048   12,808  8.77%     413,230    9,443   9.14%

  Total loans and
   leases                1,067,003   22,863  8.57%     902,195   18,416   8.16%

  Investment securities
   and cash equivalents     82,414    1,090  5.29%      72,122    1,218   6.76%

  Total interest earning
   assets                1,149,417   23,953  8.34%     974,317   19,634   8.06%

 Allowance for loan
  losses                   (18,868)                    (18,355)

 Non-interest earning
  assets
  Cash                       3,923                      11,038
  Other assets              40,273                      48,424

  Total non-interest
   earning assets           44,196                      59,462

  Total assets          $1,174,745                  $1,015,244

 LIABILITIES AND MEMBERS' EQUITY
 Interest bearing liabilities
   Subordinated debt    $  182,541   $ 2,795  6.13% $  182,694    $ 2,531 5.54%
   Notes payable           664,430    11,562  6.96%    529,676      8,554 6.46%
   Deposits                141,923     1,742  4.91%    125,160      1,390 4.44%

   Total interest bearing
    liabilities            988,894    16,099  6.51%    837,530     12,475 5.96%

 Other liabilities          36,607                      33,354
 Members' equity           149,244                     144,540

  Total liabilities and
   members' equity      $1,174,745                  $1,015,424

 Net interest earning
  assets                $  160,523                  $  136,787

 Net interest revenues
  and spread                        $  7,854  1.83%               $ 7,159 2.10%

 Net yield on interest
  earning assets                              2.73%                       2.94%
Table 2
Changes in Net Interest Income
(dollars in thousands)

For the six months ended June 30, 2000 compared to 1999

                               Increase (decrease) due to  change in:

                                    Average    Average
                                    Volume*     Yield     Net**
 Interest Income

 Cash equivalents and
  investment securities             $ (253)    $  (122)  $ (375)
 Commercial loans and leases         7,088         (87)   7,001
 Real estate loans                    (425)      1,438    1,013

  Total interest income              6,410       1,229    7,639

 Interest expense

 Deposits                              226         135      361
 Notes payable                       4,065       2,290    6,355
 Subordinated debt                      (3)        325      322

  Total interest expense             4,288       2,750    7,038

 Net interest income                $2,122     $(1,521)  $  601

* Average monthly balances
**Changes in interest income and interest expense due to changes in
  rate and volume have been allocated to "change in average volume" and
  "change in average rate" in proportion to the absolute dollar amounts
  in each.

Table 2A
Changes in Net Interest Income
(dollars in thousands)

For the three months ended June 30, 2000 compared to 1999

                              Increase (decrease) due to  change in:

                                    Average    Average
                                    Volume*    Yield    Net**

 Interest Income

 Cash equivalents and
  investment securities             $  159     $  (287) $ (128)
 Commercial loans and leases         3,760        (395)  3,365
 Real estate loans                    (112)      1,194   1,082

  Total interest income              3,807         512   4,319

 Interest expense

 Deposits                              197         155     352
 Notes payable                       2,305         703   3,008
 Subordinated debt                      (2)        266     264

  Total interest expense             2,500       1,124   3,624

 Net interest income                $1,307     $  (612) $  695

* Average monthly balances
**Changes in interest income and interest expense due to changes in
  rate and volume have been allocated to "change in average volume" and
  "change in average rate" in proportion to the absolute dollar amounts
   in each.

PROVISION FOR INCOME TAXES

  The  federal income tax provision is determined on the basis  of
non-member  income generated by NCB Savings Bank, FSB(NCBSB)  and
reserves  set  aside  for the retirement of  Class  A  notes  and
dividends  on Class C stock. NCB's subsidiaries are also  subject
to  varying  levels of state taxation.  The income tax  provision
for  the  six  months  ended June 30, 2000  was  $805.4  thousand
compared with the prior year's provision of $727.6 thousand.

CASH, CASH EQUIVALENTS AND INVESTMENT SECURITIES

  Cash,  cash equivalents and investment securities totaling $75.9
million  at  June 30, 2000 decreased $3.0 million  or  3.9%  from
$78.9  million at year-end 1999.  The decrease was due mostly  to
the  funding  of loans and lease financing.  As a  percentage  of
earning  assets, cash, cash equivalents and investment securities
decreased  to  6.5% at June 30, 2000 from 8.1%  at  December  31,
1999.

ALLOWANCE FOR LOAN LOSSES

  The  allowance for loan losses at June 30, 2000 increased  2.03%
or  $378.9  thousand  to  $19.1 million  from  $18.7  million  at
December  31, 1999. The allowance during the period was  impacted
by  loans charged-off amounting to $480.4 thousand, recoveries of
loans previously charged-off of $417.6 thousand and the provision
of $441.7 thousand. NCB's annualized provision for loan losses as
a percentage of average loans and leases outstanding remained at
 .02% and .2% for the six months ended June 30, 2000 and 1999,
respectively.

  Criticized loans have grown to $42.4 million or 7.8% at June 30,
2000 from 4.3% of the total loans outstanding at December 31, 1999.
The growth in criticized loans came primarily from a package of
retail member loans purchased from a wholesale food cooperative and
declining financial condition of a national hardware wholesaler.

  The  loan  loss  allowance as a percentage of loans  and  leases
decreased  to  1.9% at June 30, 2000 from 2.0%  at  December  31,
1999.  Management considers the current allowance to be  adequate
to absorb known and inherent risks in the loan portfolio.

  As  shown in Table 3, total impaired assets (non-accruing  loans
and  real  estate  owned) decreased 74.5% from  $3.3  million  at
December  31, 1999 to $832.0 thousand at June 30, 2000.  Impaired
assets as a percentage of loans and leases outstanding plus  real
estate  owned  decreased to .08% at June 30, 2000  compared  with
 .34%  at  year-end  1999.  The allowance for  loan  losses  as  a
percentage of impaired assets increased to 2,292.4% at  June  30,
2000 from 572.2% at December 31, 1999.

INTEREST BEARING LIABILITIES

Interest Bearing liabilities
(dollars in thousands)
                              6/30/00    12/31/99    % Change

Deposits                    $  142,482   $126,071     13.0%
Short-term debt                377,598    283,589     33.1%
Long-term debt                 304,151    286,263      6.2%
Subordinated debt              182,498    182,620      0.0%

 Total                      $1,006,729   $878,543     14.6%

  Interest  bearing liabilities increased $128.2 million  to  $1.0
billion  at  June  30, 2000 from $878.5 million at  December  31,
1999.

  For the six months of 2000, deposits at NCBSB grew 13.0% to
$142.5 million compared with $126.1 million at December 31, 1999.
The growth was due to local and national depositors and deposits
from cooperatives customers. Average maturity of the certificates
of deposits  is 12.4 months. Funds generated by the increased
deposit activity were used to originate single-family loans and
increase liquidity.

  At  June  30,  2000,  total short-term and long-term  borrowings
(including  subordinated debt) increased 14.9% or $111.8  million
to  $864.2 million in comparison to prior year-end 1999 of $752.5
million. Proceeds from the borrowings were used to fund growth in
loans  and leases. At June 30, 2000, and December 31, 1999, NCBSB
had  advances  of $29.0 million and $15.0 million,  respectively,
from  the Federal Home Loan Bank. NCB had $348.6 million,  net
of  discount  and $268.6 million, net of discount outstanding on
its short-term facilities at June 30, 2000 and December 31, 1999,
respectively.  At  June  30,  2000, included  in  the short-term
borrowings were revolving  lines  of credit  of $90.5 million;
commercial paper with a face  value  of $245.2  million  and
$13.5 million in borrowing  from  a  related entity  and
cooperative customers. At December 31, 1999, included in  the
short-term borrowing were revolving lines of  credit  of $79.5
million; commercial paper with face value of $172.4 million
and  $17.2  million  in  borrowings from  a  related  entity  and
cooperative customers. Long-term debt increased 6.2%  from  year-
end  1999  due to the issuance of an additional $50.0 million  in
medium  term  notes, net of a maturity payment of  $32.0  million
under  the  long-term  facilities. At June 30,  2000,  there  was
unused  capacity  under  short-term and long-term  facilities  of
approximately $88.3 million and $300.0 million, respectively.  At
December 31, 1999, unused capacity under the short-term and long-
term   facilities   was  $183.3  million  and   $350.0   million,
respectively.

TABLE 3
Impaired assets
(dollars in thousands)

                  June 30,  March 31, Dec. 31,  Sept. 30, June 30,
                    2000     2000      1999      1999      1999

Real estate owned $  125    $2,687    $2,687    $2,893   $3,334

Non-accruing         707       795       580       685      701

                  $  832    $3,482    $3,267    $3,578   $4,035

YEAR 2000

   NCB  undertook  many actions intended  to  assure  that  its
computer  systems and other equipment were capable of functioning
in,  and  processing for, periods for the Year 2000  and  beyond.
NCB  experienced  no  operational problems as  a  result  of  the
changeover  of  the date 1999 to 2000. NCB has  not  incurred  to
date,  and  does not expect to incur in the future, any  material
expenditures  in  connection  with  identifying,  evaluating   or
remediating   Year   2000  compliance  issues.    Most   of   its
expenditures to date have related to the opportunity cost of time
spent  by  NCB's employees evaluating and remediating  Year  2000
issues  for  the  hardware and software products  purchased,  the
information  technology  used in its operations  and  its  non-IT
Systems or embedded technology, such as building security,  phone
system  and  other  systems. Direct costs incurred  by  NCB  have
totaled  approximately $55,000. NCB did not incur any  Year  2000
expenses in the six months ended June 30, 2000.

   As  of  June 30, 2000, NCB has not experienced any  material
consequences  of failure of Year 2000 compliance, either  by  the
Company,  its  suppliers,  and  customers.   However,  Year  2000
compliance has many elements and potential consequences, some  of
which  may  not  be  foreseeable or may  be  realized  in  future
periods.   Therefore,  there can be no assurance  that  unforseen
circumstances could still not arise, or that NCB will not in  the
future  identify  equipment or systems which are  not  Year  2000
compliant.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

   No material changes in NCB's market risk profile occurred
from December 31, 1999 to June 30, 2000.

ITEM 6. EXHIBITS

 (a)  The following exhibit is filed as part of this report:

        Exhibit 10-30 - Amendment No. 3 to Third Amended and
        Restated Loan Agreement with Fleet Bank as Agent

        Exhibit 27 -  Financial Data Schedule

                            SIGNATURE

  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 there unto duly authorized.

               NATIONAL CONSUMER COOPERATIVE BANK

Date:

                                  By:/s/Richard L. Reed
                                     Richard L. Reed,
                                     Managing Director,
                                     Chief Financial Officer

                                  By:/s/Marietta J. Orcino
                                     Marietta J. Orcino
                                     Vice President, Tax &
                                     Regulatory Compliance