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 March 31, 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 March 31, 2000

     Class C                                      222,633
(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 - March 31,
          2000 and December 31, 1999 ............           3

          Consolidated statements of income - for
          the three months ended March 31, 2000
          and 1999...............................           4

          Consolidated statements of comprehensive
          income - for the three months ended
          March 31, 2000 and 1999.................          5

          Consolidated statements of cash flows -
          for the three months ended
          March 31, 2000 and 1999.................          6-7

          Condensed notes to the consolidated
          financial statements - March 31,
          2000....................................          8-13

Item 2    Management's discussion and analysis
          of financial condition and results of
          operations - for the three  months
          ended March 31, 2000 and 1999...........          14-20

Item 3    Quantitative and qualitative disclosures
          about market risk.......................          21

                    PART II OTHER INFORMATION

Item 4    Submission of Matters to a Vote of
          Security Holders....................              22

Item 6    Exhibits ...........................              23

          Exhibit 27 - Financial Data Schedule



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

                                      March 31,    December 31,
Assets                                  2000            1999
Cash and cash equivalents          $   40,338,572 $   29,910,037
Restricted cash                         4,887,213      4,887,213
Investment securities
  Available-for-sale                   43,894,287     46,283,045
  Held-to-maturity                      2,710,244      2,710,191

Loans held for sale                   168,429,733    132,057,978
Loans and lease financing             889,254,904    815,840,439
 Less: Allowance for loan losses      (18,675,296)   (18,693,670)
 Net loans held for sale and
   loans and lease financing        1,039,009,341    929,204,747

Other assets                           42,112,472     43,514,663

  Total assets                     $1,172,952,129 $1,056,509,896

Liabilities and Members' Equity
Liabilities
Deposits                           $  134,266,817 $  126,071,259
Patronage dividends payable in
  cash                                  6,210,222      5,642,040
Other liabilities                      36,891,454     25,041,359
Borrowings
  Short-term                          410,106,055    283,589,354
  Long-term                           254,321,611    286,262,870
                                      664,427,666    569,852,224

  Subordinated debt                   182,592,571    182,620,212

  Total borrowings                    847,020,237    752,472,436

  Total liabilities                 1,024,388,730    909,227,094

Members' equity
Common stock
  Class B                              99,710,414     99,879,531
  Class C                              22,263,318     22,380,663
  Class D                                     300            300
Retained earnings
  Allocated                             9,885,602      9,203,865
  Unallocated                          17,034,342     16,682,644
Accumulated other comprehensive
  income                                 (330,577)      (864,201)

   Total members' equity              148,563,399    147,282,802

   Total liabilities and members'
     equity                        $1,172,952,129 $1,056,509,896




                    NATIONAL COOPERATIVE BANK
                CONSOLIDATED STATEMENTS OF INCOME
                           (Unaudited)

For the three months ended March 31,   2000           1999

Interest income
  Loans and lease financing        $20,581,080    $17,013,818
  Investment securities              1,241,412      1,488,772

   Total interest income            21,822,492     18,502,590

Interest expense
  Deposits                           1,458,326      1,450,724
  Short-term borrowings              4,705,757      3,583,426
  Long-term debt, other borrowings
   and subordinated debt             8,113,922      5,829,905

   Total interest expense           14,278,005     10,864,055

   Net interest income               7,544,487      7,638,535

Provision for loan losses               12,500        417,500

   Net interest income after
    provision for loan losses        7,531,987      7,221,035

Non-interest income
 (Loss) gain on sale of loans           (4,069)        64,470
  Loan and deposit servicing fees      811,933        720,595
  Other                                616,312        856,162

   Total non-interest income         1,424,176      1,641,227

Non-interest expense
  Compensation and employee
    benefits                         4,253,232      3,613,886
  Contractual services               1,053,472      1,067,046
  Occupancy and equipment            1,241,590      1,049,780
  Contribution to NCB
   Development Corporation              -              50,000
  Other                                529,795        606,380

   Total non-interest expense        7,078,089      6,387,092

Net income before income taxes       1,878,074      2,475,170

Provision for income taxes             378,264        324,414

  Net income                       $ 1,499,810    $ 2,150,756

Distribution of net income
  Patronage dividends              $ 1,499,810    $ 2,150,756
  Retained earnings                     -              -
                                   $ 1,499,810    $ 2,150,756





                    NATIONAL COOPERATIVE BANK
         CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                           (Unaudited)

For the three months ended March 31,          2000        1999


Net income                                 $1,499,810  $2,150,756
Other comprehensive income, net of tax:
  Net unrealized holding
   gain (losses) before tax                   533,624    (316,537)

Comprehensive income                       $2,033,434  $1,834,219





                    NATIONAL COOPERATIVE BANK
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)

For the three months ended March 31,     2000            1999

Cash flows from operating activities
Net income                         $  1,499,810   $   2,150,756
Adjustments to reconcile net
  income to net cash used in
  operating activities
  Provision for loan losses              12,500         417,500
  Depreciation and amortization       1,688,537       1,461,790
  Loss (gain) on sale of loans            4,069         (64,470)
  Loans originated for sale         (39,968,174)    (70,837,217)
  Proceeds from sale of loans
    held for sale                     3,592,351       7,201,898
  Increase in other assets             (553,308)     (1,141,324)
  Increase(decrease) in other
    liabilities                      11,850,095     (15,534,766)

Net cash used in operating
  activities                        (21,874,120)    (76,345,833)

Cash flows from investing activities
  Redemption of restricted cash          -            7,512,629
  Purchase of investment securities
   Available-for-sale                  (650,000)     (1,000,000)
  Proceeds from maturities of
   investment securities
   Available-for-sale                 2,055,341       1,337,832
   Held-to-maturity                      -              165,596
  Net increase in loans and lease
    financing                       (79,713,118)   (110,753,344)
  Proceeds from sale of portfolio
    loans                             7,950,098          -
  Purchases of premises and
    equipment                           (51,925)       (201,259)

Net cash used in investing
  activities                        (70,409,604)   (102,938,546)

Cash flows from financing activities
  Net increase in deposits            8,195,558       3,569,061
  Net increase in short-term
   borrowings                       126,516,701     165,542,250
  Repayment on long-term debt       (32,000,000)    (20,000,000)

Net cash provided by financing
  activities                        102,712,259     149,111,311

Increase (decrease) in cash and
  cash equivalents                   10,428,535     (30,173,068)

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

Cash and cash equivalents, end
  of period                       $  40,338,572   $  36,390,092



                    NATIONAL COOPERATIVE BANK
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)


Supplemental schedule of investing and financing activities:

For the three months ended March 31,          2000         1999

Unrealized gain (loss) on investment
  available-for-sale                     $   533,624   $ (316,537)

Interest paid                            $11,667,706   $9,772,836

Income taxes paid                        $       970   $    1,494



                    NATIONAL COOPERATIVE BANK
               CONDENSED NOTES TO THE CONSOLIDATED
                      FINANCIAL STATEMENTS
                         March 31, 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 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   March  31,  2000,  NCB's  portfolios  of   investment
securities,  cash  and cash equivalents had an  average  adjusted
maturity  of  1,062 days with interest rates in those  portfolios
varying from 5.20% to 8.38%.

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

  Cash                  $ 2,602,874    $    -      $    -
  Federal funds          10,071,611         -           -
  Money market
   securities            27,314,087       742,012       -
  Private debt security      -              -         769,932
  Mutual funds               -           1,535,681      -
  Certificates of
   deposits                 350,000         -           -
  Mortgage-backed
      securities             -              -       1,942,312
  Corporate bonds            -           4,099,092      -
  U.S. Treasury and Agency
    obligations              -          17,530,555      -
  Interest-only
   receivables               -          19,986,947      -

                        $40,338,572    $43,894,287 $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 March 31, 2000 and December 31, 1999, the investments  in
the  available-for-sale portfolio were recorded at aggregate fair
value.

   Restricted  cash of $4,887,213 at March 31, 2000 and  December
31,1999  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  March  31,  2000 and December 31, 1999,  the  combined
remaining balances of 1992 and 1993 loans totaled $43,405,002 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, including loans held for sale,
by category, were as follows:

                         March 31, 2000 December 31, 1999

     Commercial loans    $  516,353,741    $470,913,210
     Lease financing         58,550,265      60,104,256
     Real estate loans
       Residential          472,789,836     408,204,055
       Commercial             9,990,795       8,676,896

                         $1,057,684,637    $947,898,417

  At  March 31, 2000 and December 31, 1999 loans held for  resale
were $168.4 million and $132.1 million, respectively.

3.    Impaired Assets

  Impaired loans, representing the nonaccrual loans at March  31,
2000  and  December  31,  1999, totaled  $795,483  and  $580,311,
respectively,  and  averaged $797,307 and $1,084,000  during  the
respective periods ending on these dates. Specific allowances  of
$397,742  and  $239,911 were established at March  31,  2000  and
December  31,  1999, respectively. During the first  quarters  of
2000 and 1999, the interest collected on the nonaccrual loans was
applied to reduce the outstanding principal.

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

  At  March  31, 2000 and December 31, 1999, NCB had real  estate
acquired  through  foreclosure for both  periods  of  $2,686,747,
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 three months ended March 31, 2000:

  Balance at January 1, 2000           $18,693,670
  Provision for loan losses                 12,500
  Charge-offs                             (334,870)
  Recoveries of loans previously
    charged-off                            303,996

  Balance at March 31, 2000            $18,675,296

  The  allowance for loan losses as a percentage of average loans
and lease financing and loans held for sale at March 31, 2000 was
1.86%.

5.   Statement of Changes in Members' Equity

  The following is a summary of the activity in members' equity for the three
months ended March 31, 2000:

<TABLE>
<S>    <C>        <C> <C>   <C>          <C>         <C>           <C>         <C>
                                         Retained     Retained                  Total
                             Common      Earnings     Earnings     Unrealized  Members'
                              Stock      Allocated   Unallocated   Gain(Loss)
Equity

Balance, December 31, 1999  $122,260,494 $ 9,203,865 $16,682,644   $(864,201)  $147,282,802
Net income                        -           -        1,499,810        -         1,499,810
Cancellation and
  redemption of stock           (286,462)     -           91,409        -          (195,053)
2000 patronage dividends
  To be distributed in cash       -           -         (557,784)       -          (557,784)
  Retained in form of equity      -          681,737    (681,737)       -              -
Unrealized gain on investment
  securities available-for-
  sale                            -           -           -          533,624        533,624

Balance, March 31, 2000     $121,974,032 $ 9,885,602 $17,034,342   $(330,577)  $148,563,399
</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 four reportable segments: commercial
lending,  real estate 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,  sells  and  services  real  estate   loans
nationally, with a concentration in New York City.  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 three months
March 31, 2000 and 1999 (dollars in thousands):


     2000             Commercial   Real Estate                          NCB
                        Lending      Lending     NCBSB      Other   Consolidated

Net interest income
  Interest income     $ 11,423     $  6,569      $  2,933  $    898
  Allocated interest
   expense               8,873        4,461          -      (13,334)
  Interest expense        -            -            1,703    12,575
Net interest income      2,550        2,108         1,230     1,657  $   7,545

Provision (credit)
 for loan losses         5,949           70            13    (6,019)        13

Non-interest
 income-external           657          652           226      (111)     1,424

Non-interest expense
  Direct expense         1,219        1,152           554     4,153      7,078
  Overhead and support     287          252           274      (813)      -
Total non-interest
 expense                 1,506        1,404           828     3,340      7,078

Income (loss) before
 taxes                $ (4,248)    $  1,286      $    615  $  4,225 $    1,878

Total average assets  $555,690     $296,137      $158,034 $ 75,436  $1,085,297

        1999          Commercial   Real Estate                          NCB
                        Lending      Lending     NCBSB     Other   Consolidated

Net interest income
  Interest income     $  7,844     $  7,247      $  2,437  $    975
  Allocated interest
   expense               5,487        4,479          -       (9,966)
  Interest expense        -            -            1,454     9,410
Net interest income      2,357        2,768           983     1,531   $  7,639

Provision (credit)
 for loan losses        (2,069)        193             43     2,251        418

Non-interest
 income-external           609          205           251       576      1,641

Non-interest expense
  Direct expense         1,148        1,111           662     3,466      6,387
  Overhead and support     117           88            75      (280)      -
Total non-interest
 expense                 1,265        1,199           737     3,186      6,387

Income (loss)
 before taxes         $  3,770     $  1,581      $    454  $ (3,330)  $  2,475

Total average assets  $385,674     $353,477      $131,822  $107,581   $978,554



                    NATIONAL COOPERATIVE BANK
              MANAGEMENT'S DISCUSSION AND ANALYSIS
       FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999


SUMMARY

  NCB's net income for the three months ended March 31, 2000  was
$1.5  million.   This  was  a 30.3% or $650.9  thousand  decrease
compared  with $2.2 million for the three months ended March  31,
1999.   The  variance resulted from a decrease of 1.2%  or  $94.0
thousand  in net interest income, a decrease  of 13.2% or  $217.1
thousand  in  non-interest income and an  increase  of  10.8%  or
$691.0  thousand  in  non-interest expense  which  was  partially
offset  by a decrease of 97% or $405.0 thousand in provision  for
loan losses.

  Total  assets were $1.17 billion at March 31, 2000, up  11%  or
$116.4  million  from $1.06 billion at December  31,  1999.  This
resulted  primarily from increases in loans  held  for  sale  and
loans and lease financing of $109.8 million and in cash and  cash
equivalents, restricted cash and investment securities  of  $8.04
million.

  The  annualized return on average total assets was .55% for the
first three months of 2000 compared with .88% for the same period
in  1999.  The annualized return on average equity for the period
ended March 31, 2000 and 1999 was 4.05% and 6.11%, respectively.

NET INTEREST INCOME

  Net  interest  income  for  the  first  three  months  of  2000
decreased 1.2% or $94.0 thousand over the same period a year ago.
Table  2  contains  more  detailed information  about  the  $94.0
thousand decrease.

  As  shown  on  Table  1, the net interest spread  decreased  61
basis  points to 1.7% from 2.31% for the three months ended March
31,  1999 while net interest yield on interest earning assets was
2.78%  and  3.21% for the three months ended March 31,  2000  and
1999,  respectively. The decrease was mainly due to increased
cost to borrow on the short-term facilities. For the three months
ended March  31,  2000, the   yield  on  average  loans  and
leases  and  on  investment securities  and cash equivalents was
up 18 basis  points  and  53 basis  points, respectively, compared
with the first  quarter  of 1999.

  For  the  three  months ending March 31, 2000, interest  income
increased  17.9%  or  $3.3 million to $21.8  million  from  $18.5
million  of  the prior year's quarter. As shown on Table  2,  the
increase  in  interest income was due mostly  to  growth  in  the
commercial loan and lease portfolio.

   Interest  expense  increased $3.4 million or  31.4%  to  $14.3
million  for the three months ended March 31, 2000 compared  with
$10.9  million  for the three months ended March  31,  1999.  The
interest  expense was up as a result of higher  levels  of  notes
payable to fund loan volume. At March 31, 2000, the average  rate
on  interest-bearing liabilities increased to 6.35% compared with
5.46%  in the same period in 1999. As shown on Table 2, the total
increase  in  interest  expense of $3.4 million  was  volume  and
interest rate related.

NON-INTEREST INCOME

  Non-interest income for the three months ended March  31,  2000
of  $1.4  million  decreased 13.2% or $217.1 thousand  from  $1.6
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, advisory and debt placement
fees  and  other  income.  The majority of the decrease  resulted
from  a  loss  on  a  commercial loan sale  and  the  reduced
yield of interest-only receivables. Loans sold during  the
first  quarter  of  2000 were $11.7  million compared  with  $7.1
million in the year-earlier period.

   Servicing  fee  income for the quarter ended  March  31,  2000
increased  12.7%  or $91.3 thousand to $811.9  thousand  compared
with  $720.6 thousand for the three months ended March 31,  1999.
At  March 31, 2000 and 1999, NCB serviced single and multi-family
real estate and commercial loans for investors in the amounts  of
$2.05 billion and $1.74 billion, respectively.

  Other  income  was  down  28% to $616.3  thousand  from  $856.2
thousand  due  to  lower  commercial and real  estate  loan  fees
received and yield of interest-only receivables and higher expenses
maintaining a real estate property owned.

NON-INTEREST EXPENSE

  Non-interest expense for the three months ended March 31,  2000
increased 10.8% or $691.0 thousand to $7.1 million compared  with
$6.4   million  for  the  three  months  ended  March  31,  1999.
Compensation and employee benefits, remaining by far  the  single
largest  component  of non-interest expense, increased  17.7%  or
$639.3  thousand due to a higher employee base and bonus accruals
than  in  the  year-earlier  period.  Compensation  and  employee
benefits  accounted  for 60.1% and 56.6% of non-interest  expense
for the three months ended March 31, 2000 and 1999, respectively.
Occupancy and equipment expenses went up 18.3% or $191.8 thousand
due  to increases in computer and internet services and equipment
and software maintenance.

  Excluding   the  voluntary  contributions  to  NCB  Development
Corporation,  which was zero and $50 thousand  during  the  first
quarters of 2000 and 1999, respectively, non-interest expense  as
a percentage of average assets was 2.6% for both the three months
ended March 31, 2000 and the same period a year ago.
Table 1
RATE RELATED ASSETS AND LIABILITIES
(dollars in thousands)

<TABLE>
Table 2
RATE RELATED ASSETS AND LIABILITIES
(dollars in thousands)
 <S>                      <C>         <C>      <C>    <C>      <C>      <C>
                                    For the years ended December 31,
                                     2000                      1999
                                              Ave.                      Ave.
Assets                     Average   Income/  Rate/   Average  Income/  Rate/
                           Balance*  Expense  Yield   Balance* Expense  Yield

Interest earning assets
 Real estate loans        $  442,086  $ 8,636  7.81%  $458,737 $ 8,705  7.59%
 Commercial loans and
  leases                     563,528   11,945  8.48%   391,192   8,309  8.50%

 Total loans and leases    1,005,614   20,581  8.19%   849,929  17,014  8.01%

Investment securities
 and cash equivalents         78,663    1,241  6.31%   103,106   1,489  5.78%

 Total interest earning
  assets                   1,084,277   21,822  8.05%   953,035  18,503  7.77%

Allowance for loan losses    (18,694)                  (17,719)

Non-interest earning assets
 Cash                          2,912                    10,528
 Other                        16,802                    32,710

Total non-interest earning
 assets                       19,714                    43,238

Total assets              $1,085,297                  $978,554

Liabilities and members' equity
Interest bearing liabilities
 Subordinated debt        $  182,610  $ 2,646  5.80%  $182,641 $ 2,588  5.67%
 Note payable                590,111   10,173  6.90%   486,578   6,825  5.61%
 Deposits                    126,889    1,459  4.60%   126,018   1,451  4.61%

 Total interest bearing
  liabilities                899,610   14,278  6.35%   795,237  10,864  5.46%

 Other liabilities            37,540                    42,443
 Members' equity             148,147                   140,874

   Total liabilities and
     members' equity      $1,085,297                  $978,554

Net interest earning
 assets                   $  184,667                  $157,798
Net interest revenues and
 spread                               $ 7,544 1.70%            $ 7,639  2.31%
Net yield on interest
 earning assets                               2.78%                     3.21%

</TABLE>

PROVISION FOR INCOME TAXES

 The  federal income tax provision is determined on the basis  of
non-member income generated by NCB Savings Bank, FSB 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 three
months  ended March 31, 2000 was $378 thousand compared with  the
prior year's provision of $324 thousand.

CASH, CASH EQUIVALENTS AND INVESTMENT SECURITIES

 Cash,  cash equivalents and investment securities totaling $86.9
million  at  March 31, 2000 increased $8.0 million or 10.2%  from
$78.9  million at year-end 1999 due to repayments  on  loans  and
leases  received at the end of March. As a percentage of  earning
assets,   cash,   cash  equivalents  and  investment   securities
decreased  to  7.6% at March 31, 2000 from 8.1% at  December  31,
1999.

ALLOWANCE FOR LOAN LOSSES

 The  allowance  for  loan losses at March  31,  2000  was  $18.7
million,  down  slightly  by  .1% from  December  31,  1999.  The
allowance during the period was impacted by loans charged-off  of
$334.9  thousand, recoveries of loans previously  charged-off  of
$304.0  thousand  and the provision of $12.5  thousand.  Overall,
loan portfolio quality remained both strong and stable at the end
of  the  first  quarters  of  2000  and  1999.  NCB's  annualized
provision  for loan losses as a percentage of average  loans  and
leases outstanding was less than .1% for the quarter ended  March
31, 2000 and .2% for the quarter ended March 31, 1999.

 The  loan  loss allowance as a percentage of average  loans  and
leases  decreased to 1.9% at March 31, 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) increased 6.6%  from  $3.3  million  at
December  31,  1999 to $3.5 million at March 31, 2000.   Impaired
assets as a percentage of loans and leases outstanding plus  real
estate  owned  was .33% at March 31, 2000 compared with  .34%  at
year-end 1999.  The allowance for loan losses as a percentage  of
impaired assets decreased to 536.3% at March 31, 2000 from 572.2%
at December 31, 1999.

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

For the three months ended March 31, 2000 compared to 1999

                                  Increase (decrease) due to  change
in:

                                    Average    Average
                                    Volume*    Yield     Net**

 Interest Income

 Cash equivalents and
  investment securities             $ (377)    $   129  $ (248)
 Commercial loans and leases         3,653         (17)  3,636
 Real estate loans                    (321)        252     (69)

  Total interest income              2,955         364   3,319

 Interest expense

 Deposits                               10          (2)      8
 Notes payable                       1,612       1,735   3,347
 Subordinated debt                       0          58      58

  Total interest expense             1,622       1,791   3,413

 Net interest income                $1,333     $(1,427) $  (94)

* 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.


INTEREST BEARING LIABILITIES

Interest Bearing liabilities
(dollars in thousands)
                             3/31/00    12/31/99      % Change

Deposits                    $134,267     $126,071          6.5%
Short-term debt              410,106      283,589         44.6%
Long-term debt               254,322      286,263        (11.2%)
Subordinated debt            182,593      182,620          0.0%

 Total                     $981,288      $878,543         11.7%

 Interest bearing liabilities increased $102.7 million to  $981.3
million  at  March 31, 2000 from $878.5 million at  December  31,
1999.

 For  the  first  three months of 2000, deposits  at  NCB  Saving
Bank,  FSB  (NCBSB)  grew 6.5% to $134.3  million  compared  with
$126.1  million at December 31, 1999. The growth was attributable
to   local  and  national  deposit  accounts  and  deposits  from
cooperative  customers. Average maturity of the  certificates  of
deposits is 13.6 months. Funds generated by the increased deposit
activity  were used to originate single-family loans and increase
liquidity.

 At  March  31,  2000, total short-term and long-term  borrowings
(including subordinated debt) increased 12.6% or $94.5 million to
$847.0  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 March 31, 2000 and December  31,  1999,
NCBSB   had   advances  of  $23.0  million  and  $15.0   million,
respectively, from the Federal Home Loan Bank and NCB had  $387.1
million,  net  of discount and $268.6 million, net  of  discount,
respectively, outstanding on its short-term facilities.  At March
31,   2000,  included in the short-term borrowings were revolving
lines  of credit of $146.5 million; commercial paper with a  face
value  of $225.4 million and $16.0 million in borrowings  from  a
related  entity and cooperative customers. At December 31,  1999,
included  in  the short-term borrowings were revolving  lines  of
credit  of $79.5 million; commercial paper with a face  value  of
$172.4  million  and $17.2 million in borrowings from  a  related
entity and cooperative customers. Long-term debt decreased  11.2%
from  year-end 1999 due to a payment of $32.0 million  under  the
long-term  facilities.   At  March 31,  2000,  there  was  unused
capacity  under  the  short-term  and  long-term  facilities   of
approximately $64.6 million and $350.0 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)

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

Real estate owned   $2,687       $2,687    $2,893     $3,334     $3,355

Non-accruing           795          580       685        701      2,371

                    $3,482       $3,267    $3,578     $4,035     $5,726

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 first quarter ended March 31, 2000.

     As  of  March 31, 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 March 31, 2000.

Part II OTHER INFORMATION

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

     NCB  held  its  annual meeting on April 27, 2000.   Shareholders
elected the following persons to serve as directors:

 Kirby J. Erickson(re-elected)
 Jackie Jenkins-Scott(re-elected)
 Peter C. Young(re-elected)
 Thomas K. Zaucha (re-elected)

 The following directors continued in office after this meeting:

 James L. Burns, Jr.
 Harry J. Bowie
 Joseph Cabral
 Eben Hopson, Jr.
 Marilyn J. McQuiade
 Michael J. Mercer
 Alex N. Miller
 Alfred A. Plamann
 Stuart M. Saft
 Shiela A. Smith

Item 6. Exhibits

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

        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:
                                     Richard L. Reed,
                                     Managing Director,
                                     Chief Financial Officer



                                  By:
                                     Marietta J. Orcino
                                     Vice President, Tax &
                                     Regulatory Compliance
[{"type": "10-Q", "sequence": "1", "secsgml_size_bytes": 39748}]
{"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": "633043"}, "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 March 31, 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 March 31, 2000

     Class C                                      222,633
(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 - March 31,
          2000 and December 31, 1999 ............           3

          Consolidated statements of income - for
          the three months ended March 31, 2000
          and 1999...............................           4

          Consolidated statements of comprehensive
          income - for the three months ended
          March 31, 2000 and 1999.................          5

          Consolidated statements of cash flows -
          for the three months ended
          March 31, 2000 and 1999.................          6-7

          Condensed notes to the consolidated
          financial statements - March 31,
          2000....................................          8-13

Item 2    Management's discussion and analysis
          of financial condition and results of
          operations - for the three  months
          ended March 31, 2000 and 1999...........          14-20

Item 3    Quantitative and qualitative disclosures
          about market risk.......................          21

                    PART II OTHER INFORMATION

Item 4    Submission of Matters to a Vote of
          Security Holders....................              22

Item 6    Exhibits ...........................              23

          Exhibit 27 - Financial Data Schedule

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

                                      March 31,    December 31,
Assets                                  2000            1999
Cash and cash equivalents          $   40,338,572 $   29,910,037
Restricted cash                         4,887,213      4,887,213
Investment securities
  Available-for-sale                   43,894,287     46,283,045
  Held-to-maturity                      2,710,244      2,710,191

Loans held for sale                   168,429,733    132,057,978
Loans and lease financing             889,254,904    815,840,439
 Less: Allowance for loan losses      (18,675,296)   (18,693,670)
 Net loans held for sale and
   loans and lease financing        1,039,009,341    929,204,747

Other assets                           42,112,472     43,514,663

  Total assets                     $1,172,952,129 $1,056,509,896

Liabilities and Members' Equity
Liabilities
Deposits                           $  134,266,817 $  126,071,259
Patronage dividends payable in
  cash                                  6,210,222      5,642,040
Other liabilities                      36,891,454     25,041,359
Borrowings
  Short-term                          410,106,055    283,589,354
  Long-term                           254,321,611    286,262,870
                                      664,427,666    569,852,224

  Subordinated debt                   182,592,571    182,620,212

  Total borrowings                    847,020,237    752,472,436

  Total liabilities                 1,024,388,730    909,227,094

Members' equity
Common stock
  Class B                              99,710,414     99,879,531
  Class C                              22,263,318     22,380,663
  Class D                                     300            300
Retained earnings
  Allocated                             9,885,602      9,203,865
  Unallocated                          17,034,342     16,682,644
Accumulated other comprehensive
  income                                 (330,577)      (864,201)

   Total members' equity              148,563,399    147,282,802

   Total liabilities and members'
     equity                        $1,172,952,129 $1,056,509,896

                    NATIONAL COOPERATIVE BANK
                CONSOLIDATED STATEMENTS OF INCOME
                           (Unaudited)

For the three months ended March 31,   2000           1999

Interest income
  Loans and lease financing        $20,581,080    $17,013,818
  Investment securities              1,241,412      1,488,772

   Total interest income            21,822,492     18,502,590

Interest expense
  Deposits                           1,458,326      1,450,724
  Short-term borrowings              4,705,757      3,583,426
  Long-term debt, other borrowings
   and subordinated debt             8,113,922      5,829,905

   Total interest expense           14,278,005     10,864,055

   Net interest income               7,544,487      7,638,535

Provision for loan losses               12,500        417,500

   Net interest income after
    provision for loan losses        7,531,987      7,221,035

Non-interest income
 (Loss) gain on sale of loans           (4,069)        64,470
  Loan and deposit servicing fees      811,933        720,595
  Other                                616,312        856,162

   Total non-interest income         1,424,176      1,641,227

Non-interest expense
  Compensation and employee
    benefits                         4,253,232      3,613,886
  Contractual services               1,053,472      1,067,046
  Occupancy and equipment            1,241,590      1,049,780
  Contribution to NCB
   Development Corporation              -              50,000
  Other                                529,795        606,380

   Total non-interest expense        7,078,089      6,387,092

Net income before income taxes       1,878,074      2,475,170

Provision for income taxes             378,264        324,414

  Net income                       $ 1,499,810    $ 2,150,756

Distribution of net income
  Patronage dividends              $ 1,499,810    $ 2,150,756
  Retained earnings                     -              -
                                   $ 1,499,810    $ 2,150,756

                    NATIONAL COOPERATIVE BANK
         CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                           (Unaudited)

For the three months ended March 31,          2000        1999

Net income                                 $1,499,810  $2,150,756
Other comprehensive income, net of tax:
  Net unrealized holding
   gain (losses) before tax                   533,624    (316,537)

Comprehensive income                       $2,033,434  $1,834,219

                    NATIONAL COOPERATIVE BANK
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)

For the three months ended March 31,     2000            1999

Cash flows from operating activities
Net income                         $  1,499,810   $   2,150,756
Adjustments to reconcile net
  income to net cash used in
  operating activities
  Provision for loan losses              12,500         417,500
  Depreciation and amortization       1,688,537       1,461,790
  Loss (gain) on sale of loans            4,069         (64,470)
  Loans originated for sale         (39,968,174)    (70,837,217)
  Proceeds from sale of loans
    held for sale                     3,592,351       7,201,898
  Increase in other assets             (553,308)     (1,141,324)
  Increase(decrease) in other
    liabilities                      11,850,095     (15,534,766)

Net cash used in operating
  activities                        (21,874,120)    (76,345,833)

Cash flows from investing activities
  Redemption of restricted cash          -            7,512,629
  Purchase of investment securities
   Available-for-sale                  (650,000)     (1,000,000)
  Proceeds from maturities of
   investment securities
   Available-for-sale                 2,055,341       1,337,832
   Held-to-maturity                      -              165,596
  Net increase in loans and lease
    financing                       (79,713,118)   (110,753,344)
  Proceeds from sale of portfolio
    loans                             7,950,098          -
  Purchases of premises and
    equipment                           (51,925)       (201,259)

Net cash used in investing
  activities                        (70,409,604)   (102,938,546)

Cash flows from financing activities
  Net increase in deposits            8,195,558       3,569,061
  Net increase in short-term
   borrowings                       126,516,701     165,542,250
  Repayment on long-term debt       (32,000,000)    (20,000,000)

Net cash provided by financing
  activities                        102,712,259     149,111,311

Increase (decrease) in cash and
  cash equivalents                   10,428,535     (30,173,068)

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

Cash and cash equivalents, end
  of period                       $  40,338,572   $  36,390,092

                    NATIONAL COOPERATIVE BANK
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)

Supplemental schedule of investing and financing activities:

For the three months ended March 31,          2000         1999

Unrealized gain (loss) on investment
  available-for-sale                     $   533,624   $ (316,537)

Interest paid                            $11,667,706   $9,772,836

Income taxes paid                        $       970   $    1,494

                    NATIONAL COOPERATIVE BANK
               CONDENSED NOTES TO THE CONSOLIDATED
                      FINANCIAL STATEMENTS
                         March 31, 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 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   March  31,  2000,  NCB's  portfolios  of   investment
securities,  cash  and cash equivalents had an  average  adjusted
maturity  of  1,062 days with interest rates in those  portfolios
varying from 5.20% to 8.38%.

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

  Cash                  $ 2,602,874    $    -      $    -
  Federal funds          10,071,611         -           -
  Money market
   securities            27,314,087       742,012       -
  Private debt security      -              -         769,932
  Mutual funds               -           1,535,681      -
  Certificates of
   deposits                 350,000         -           -
  Mortgage-backed
      securities             -              -       1,942,312
  Corporate bonds            -           4,099,092      -
  U.S. Treasury and Agency
    obligations              -          17,530,555      -
  Interest-only
   receivables               -          19,986,947      -

                        $40,338,572    $43,894,287 $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 March 31, 2000 and December 31, 1999, the investments  in
the  available-for-sale portfolio were recorded at aggregate fair
value.

   Restricted  cash of $4,887,213 at March 31, 2000 and  December
31,1999  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  March  31,  2000 and December 31, 1999,  the  combined
remaining balances of 1992 and 1993 loans totaled $43,405,002 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, including loans held for sale,
by category, were as follows:

                         March 31, 2000 December 31, 1999

     Commercial loans    $  516,353,741    $470,913,210
     Lease financing         58,550,265      60,104,256
     Real estate loans
       Residential          472,789,836     408,204,055
       Commercial             9,990,795       8,676,896

                         $1,057,684,637    $947,898,417

  At  March 31, 2000 and December 31, 1999 loans held for  resale
were $168.4 million and $132.1 million, respectively.

3.    Impaired Assets

  Impaired loans, representing the nonaccrual loans at March  31,
2000  and  December  31,  1999, totaled  $795,483  and  $580,311,
respectively,  and  averaged $797,307 and $1,084,000  during  the
respective periods ending on these dates. Specific allowances  of
$397,742  and  $239,911 were established at March  31,  2000  and
December  31,  1999, respectively. During the first  quarters  of
2000 and 1999, the interest collected on the nonaccrual loans was
applied to reduce the outstanding principal.

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

  At  March  31, 2000 and December 31, 1999, NCB had real  estate
acquired  through  foreclosure for both  periods  of  $2,686,747,
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 three months ended March 31, 2000:

  Balance at January 1, 2000           $18,693,670
  Provision for loan losses                 12,500
  Charge-offs                             (334,870)
  Recoveries of loans previously
    charged-off                            303,996

  Balance at March 31, 2000            $18,675,296

  The  allowance for loan losses as a percentage of average loans
and lease financing and loans held for sale at March 31, 2000 was
1.86%.

5.   Statement of Changes in Members' Equity

  The following is a summary of the activity in members' equity for the three
months ended March 31, 2000:
Retained     Retained                  Total
                             Common      Earnings     Earnings     Unrealized  Members'
                              Stock      Allocated   Unallocated   Gain(Loss)
Equity

Balance, December 31, 1999  $122,260,494 $ 9,203,865 $16,682,644   $(864,201)  $147,282,802
Net income                        -           -        1,499,810        -         1,499,810
Cancellation and
  redemption of stock           (286,462)     -           91,409        -          (195,053)
2000 patronage dividends
  To be distributed in cash       -           -         (557,784)       -          (557,784)
  Retained in form of equity      -          681,737    (681,737)       -              -
Unrealized gain on investment
  securities available-for-
  sale                            -           -           -          533,624        533,624

Balance, March 31, 2000     $121,974,032 $ 9,885,602 $17,034,342   $(330,577)  $148,563,399
6. SEGMENT REPORTING

   NCB's  reportable segments are strategic business units  that
provide  diverse  products  and services  within  the  financial
services  industry. NCB has four reportable segments: commercial
lending,  real estate 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,  sells  and  services  real  estate   loans
nationally, with a concentration in New York City.  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 three months
March 31, 2000 and 1999 (dollars in thousands):

     2000             Commercial   Real Estate                          NCB
                        Lending      Lending     NCBSB      Other   Consolidated

Net interest income
  Interest income     $ 11,423     $  6,569      $  2,933  $    898
  Allocated interest
   expense               8,873        4,461          -      (13,334)
  Interest expense        -            -            1,703    12,575
Net interest income      2,550        2,108         1,230     1,657  $   7,545

Provision (credit)
 for loan losses         5,949           70            13    (6,019)        13

Non-interest
 income-external           657          652           226      (111)     1,424

Non-interest expense
  Direct expense         1,219        1,152           554     4,153      7,078
  Overhead and support     287          252           274      (813)      -
Total non-interest
 expense                 1,506        1,404           828     3,340      7,078

Income (loss) before
 taxes                $ (4,248)    $  1,286      $    615  $  4,225 $    1,878

Total average assets  $555,690     $296,137      $158,034 $ 75,436  $1,085,297

        1999          Commercial   Real Estate                          NCB
                        Lending      Lending     NCBSB     Other   Consolidated

Net interest income
  Interest income     $  7,844     $  7,247      $  2,437  $    975
  Allocated interest
   expense               5,487        4,479          -       (9,966)
  Interest expense        -            -            1,454     9,410
Net interest income      2,357        2,768           983     1,531   $  7,639

Provision (credit)
 for loan losses        (2,069)        193             43     2,251        418

Non-interest
 income-external           609          205           251       576      1,641

Non-interest expense
  Direct expense         1,148        1,111           662     3,466      6,387
  Overhead and support     117           88            75      (280)      -
Total non-interest
 expense                 1,265        1,199           737     3,186      6,387

Income (loss)
 before taxes         $  3,770     $  1,581      $    454  $ (3,330)  $  2,475

Total average assets  $385,674     $353,477      $131,822  $107,581   $978,554

                    NATIONAL COOPERATIVE BANK
              MANAGEMENT'S DISCUSSION AND ANALYSIS
       FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999

SUMMARY

  NCB's net income for the three months ended March 31, 2000  was
$1.5  million.   This  was  a 30.3% or $650.9  thousand  decrease
compared  with $2.2 million for the three months ended March  31,
1999.   The  variance resulted from a decrease of 1.2%  or  $94.0
thousand  in net interest income, a decrease  of 13.2% or  $217.1
thousand  in  non-interest income and an  increase  of  10.8%  or
$691.0  thousand  in  non-interest expense  which  was  partially
offset  by a decrease of 97% or $405.0 thousand in provision  for
loan losses.

  Total  assets were $1.17 billion at March 31, 2000, up  11%  or
$116.4  million  from $1.06 billion at December  31,  1999.  This
resulted  primarily from increases in loans  held  for  sale  and
loans and lease financing of $109.8 million and in cash and  cash
equivalents, restricted cash and investment securities  of  $8.04
million.

  The  annualized return on average total assets was .55% for the
first three months of 2000 compared with .88% for the same period
in  1999.  The annualized return on average equity for the period
ended March 31, 2000 and 1999 was 4.05% and 6.11%, respectively.

NET INTEREST INCOME

  Net  interest  income  for  the  first  three  months  of  2000
decreased 1.2% or $94.0 thousand over the same period a year ago.
Table  2  contains  more  detailed information  about  the  $94.0
thousand decrease.

  As  shown  on  Table  1, the net interest spread  decreased  61
basis  points to 1.7% from 2.31% for the three months ended March
31,  1999 while net interest yield on interest earning assets was
2.78%  and  3.21% for the three months ended March 31,  2000  and
1999,  respectively. The decrease was mainly due to increased
cost to borrow on the short-term facilities. For the three months
ended March  31,  2000, the   yield  on  average  loans  and
leases  and  on  investment securities  and cash equivalents was
up 18 basis  points  and  53 basis  points, respectively, compared
with the first  quarter  of 1999.

  For  the  three  months ending March 31, 2000, interest  income
increased  17.9%  or  $3.3 million to $21.8  million  from  $18.5
million  of  the prior year's quarter. As shown on Table  2,  the
increase  in  interest income was due mostly  to  growth  in  the
commercial loan and lease portfolio.

   Interest  expense  increased $3.4 million or  31.4%  to  $14.3
million  for the three months ended March 31, 2000 compared  with
$10.9  million  for the three months ended March  31,  1999.  The
interest  expense was up as a result of higher  levels  of  notes
payable to fund loan volume. At March 31, 2000, the average  rate
on  interest-bearing liabilities increased to 6.35% compared with
5.46%  in the same period in 1999. As shown on Table 2, the total
increase  in  interest  expense of $3.4 million  was  volume  and
interest rate related.

NON-INTEREST INCOME

  Non-interest income for the three months ended March  31,  2000
of  $1.4  million  decreased 13.2% or $217.1 thousand  from  $1.6
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, advisory and debt placement
fees  and  other  income.  The majority of the decrease  resulted
from  a  loss  on  a  commercial loan sale  and  the  reduced
yield of interest-only receivables. Loans sold during  the
first  quarter  of  2000 were $11.7  million compared  with  $7.1
million in the year-earlier period.

   Servicing  fee  income for the quarter ended  March  31,  2000
increased  12.7%  or $91.3 thousand to $811.9  thousand  compared
with  $720.6 thousand for the three months ended March 31,  1999.
At  March 31, 2000 and 1999, NCB serviced single and multi-family
real estate and commercial loans for investors in the amounts  of
$2.05 billion and $1.74 billion, respectively.

  Other  income  was  down  28% to $616.3  thousand  from  $856.2
thousand  due  to  lower  commercial and real  estate  loan  fees
received and yield of interest-only receivables and higher expenses
maintaining a real estate property owned.

NON-INTEREST EXPENSE

  Non-interest expense for the three months ended March 31,  2000
increased 10.8% or $691.0 thousand to $7.1 million compared  with
$6.4   million  for  the  three  months  ended  March  31,  1999.
Compensation and employee benefits, remaining by far  the  single
largest  component  of non-interest expense, increased  17.7%  or
$639.3  thousand due to a higher employee base and bonus accruals
than  in  the  year-earlier  period.  Compensation  and  employee
benefits  accounted  for 60.1% and 56.6% of non-interest  expense
for the three months ended March 31, 2000 and 1999, respectively.
Occupancy and equipment expenses went up 18.3% or $191.8 thousand
due  to increases in computer and internet services and equipment
and software maintenance.

  Excluding   the  voluntary  contributions  to  NCB  Development
Corporation,  which was zero and $50 thousand  during  the  first
quarters of 2000 and 1999, respectively, non-interest expense  as
a percentage of average assets was 2.6% for both the three months
ended March 31, 2000 and the same period a year ago.
Table 1
RATE RELATED ASSETS AND LIABILITIES
(dollars in thousands)

Table 2
RATE RELATED ASSETS AND LIABILITIES
(dollars in thousands)
For the years ended December 31,
                                     2000                      1999
                                              Ave.                      Ave.
Assets                     Average   Income/  Rate/   Average  Income/  Rate/
                           Balance*  Expense  Yield   Balance* Expense  Yield

Interest earning assets
 Real estate loans        $  442,086  $ 8,636  7.81%  $458,737 $ 8,705  7.59%
 Commercial loans and
  leases                     563,528   11,945  8.48%   391,192   8,309  8.50%

 Total loans and leases    1,005,614   20,581  8.19%   849,929  17,014  8.01%

Investment securities
 and cash equivalents         78,663    1,241  6.31%   103,106   1,489  5.78%

 Total interest earning
  assets                   1,084,277   21,822  8.05%   953,035  18,503  7.77%

Allowance for loan losses    (18,694)                  (17,719)

Non-interest earning assets
 Cash                          2,912                    10,528
 Other                        16,802                    32,710

Total non-interest earning
 assets                       19,714                    43,238

Total assets              $1,085,297                  $978,554

Liabilities and members' equity
Interest bearing liabilities
 Subordinated debt        $  182,610  $ 2,646  5.80%  $182,641 $ 2,588  5.67%
 Note payable                590,111   10,173  6.90%   486,578   6,825  5.61%
 Deposits                    126,889    1,459  4.60%   126,018   1,451  4.61%

 Total interest bearing
  liabilities                899,610   14,278  6.35%   795,237  10,864  5.46%

 Other liabilities            37,540                    42,443
 Members' equity             148,147                   140,874

   Total liabilities and
     members' equity      $1,085,297                  $978,554

Net interest earning
 assets                   $  184,667                  $157,798
Net interest revenues and
 spread                               $ 7,544 1.70%            $ 7,639  2.31%
Net yield on interest
 earning assets                               2.78%                     3.21%
PROVISION FOR INCOME TAXES

 The  federal income tax provision is determined on the basis  of
non-member income generated by NCB Savings Bank, FSB 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 three
months  ended March 31, 2000 was $378 thousand compared with  the
prior year's provision of $324 thousand.

CASH, CASH EQUIVALENTS AND INVESTMENT SECURITIES

 Cash,  cash equivalents and investment securities totaling $86.9
million  at  March 31, 2000 increased $8.0 million or 10.2%  from
$78.9  million at year-end 1999 due to repayments  on  loans  and
leases  received at the end of March. As a percentage of  earning
assets,   cash,   cash  equivalents  and  investment   securities
decreased  to  7.6% at March 31, 2000 from 8.1% at  December  31,
1999.

ALLOWANCE FOR LOAN LOSSES

 The  allowance  for  loan losses at March  31,  2000  was  $18.7
million,  down  slightly  by  .1% from  December  31,  1999.  The
allowance during the period was impacted by loans charged-off  of
$334.9  thousand, recoveries of loans previously  charged-off  of
$304.0  thousand  and the provision of $12.5  thousand.  Overall,
loan portfolio quality remained both strong and stable at the end
of  the  first  quarters  of  2000  and  1999.  NCB's  annualized
provision  for loan losses as a percentage of average  loans  and
leases outstanding was less than .1% for the quarter ended  March
31, 2000 and .2% for the quarter ended March 31, 1999.

 The  loan  loss allowance as a percentage of average  loans  and
leases  decreased to 1.9% at March 31, 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) increased 6.6%  from  $3.3  million  at
December  31,  1999 to $3.5 million at March 31, 2000.   Impaired
assets as a percentage of loans and leases outstanding plus  real
estate  owned  was .33% at March 31, 2000 compared with  .34%  at
year-end 1999.  The allowance for loan losses as a percentage  of
impaired assets decreased to 536.3% at March 31, 2000 from 572.2%
at December 31, 1999.

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

For the three months ended March 31, 2000 compared to 1999

                                  Increase (decrease) due to  change
in:

                                    Average    Average
                                    Volume*    Yield     Net**

 Interest Income

 Cash equivalents and
  investment securities             $ (377)    $   129  $ (248)
 Commercial loans and leases         3,653         (17)  3,636
 Real estate loans                    (321)        252     (69)

  Total interest income              2,955         364   3,319

 Interest expense

 Deposits                               10          (2)      8
 Notes payable                       1,612       1,735   3,347
 Subordinated debt                       0          58      58

  Total interest expense             1,622       1,791   3,413

 Net interest income                $1,333     $(1,427) $  (94)

* 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.

INTEREST BEARING LIABILITIES

Interest Bearing liabilities
(dollars in thousands)
                             3/31/00    12/31/99      % Change

Deposits                    $134,267     $126,071          6.5%
Short-term debt              410,106      283,589         44.6%
Long-term debt               254,322      286,263        (11.2%)
Subordinated debt            182,593      182,620          0.0%

 Total                     $981,288      $878,543         11.7%

 Interest bearing liabilities increased $102.7 million to  $981.3
million  at  March 31, 2000 from $878.5 million at  December  31,
1999.

 For  the  first  three months of 2000, deposits  at  NCB  Saving
Bank,  FSB  (NCBSB)  grew 6.5% to $134.3  million  compared  with
$126.1  million at December 31, 1999. The growth was attributable
to   local  and  national  deposit  accounts  and  deposits  from
cooperative  customers. Average maturity of the  certificates  of
deposits is 13.6 months. Funds generated by the increased deposit
activity  were used to originate single-family loans and increase
liquidity.

 At  March  31,  2000, total short-term and long-term  borrowings
(including subordinated debt) increased 12.6% or $94.5 million to
$847.0  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 March 31, 2000 and December  31,  1999,
NCBSB   had   advances  of  $23.0  million  and  $15.0   million,
respectively, from the Federal Home Loan Bank and NCB had  $387.1
million,  net  of discount and $268.6 million, net  of  discount,
respectively, outstanding on its short-term facilities.  At March
31,   2000,  included in the short-term borrowings were revolving
lines  of credit of $146.5 million; commercial paper with a  face
value  of $225.4 million and $16.0 million in borrowings  from  a
related  entity and cooperative customers. At December 31,  1999,
included  in  the short-term borrowings were revolving  lines  of
credit  of $79.5 million; commercial paper with a face  value  of
$172.4  million  and $17.2 million in borrowings from  a  related
entity and cooperative customers. Long-term debt decreased  11.2%
from  year-end 1999 due to a payment of $32.0 million  under  the
long-term  facilities.   At  March 31,  2000,  there  was  unused
capacity  under  the  short-term  and  long-term  facilities   of
approximately $64.6 million and $350.0 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)

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

Real estate owned   $2,687       $2,687    $2,893     $3,334     $3,355

Non-accruing           795          580       685        701      2,371

                    $3,482       $3,267    $3,578     $4,035     $5,726

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 first quarter ended March 31, 2000.

     As  of  March 31, 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 March 31, 2000.

Part II OTHER INFORMATION

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

     NCB  held  its  annual meeting on April 27, 2000.   Shareholders
elected the following persons to serve as directors:

 Kirby J. Erickson(re-elected)
 Jackie Jenkins-Scott(re-elected)
 Peter C. Young(re-elected)
 Thomas K. Zaucha (re-elected)

 The following directors continued in office after this meeting:

 James L. Burns, Jr.
 Harry J. Bowie
 Joseph Cabral
 Eben Hopson, Jr.
 Marilyn J. McQuiade
 Michael J. Mercer
 Alex N. Miller
 Alfred A. Plamann
 Stuart M. Saft
 Shiela A. Smith

Item 6. Exhibits

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

        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:
                                     Richard L. Reed,
                                     Managing Director,
                                     Chief Financial Officer

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