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 September 30, 1997  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 September 30, 1997

    Class C                                  217,079
(Common stock, $100.00 par value)                              

    Class B                                  840,054
(Common stock, $100.00 par value)                     

    Class D                                       3
(Common stock, $100.00 par value)                          
<PAGE>
               National Consumer Cooperative Bank 
          (doing business as National Cooperative Bank)
                    and Subsidiaries

                              INDEX

PART I  FINANCIAL INFORMATION                            Page No.

Item 1    Consolidated balance sheets - September 30,
          1997 and 1996 and December 31, 1996............        3

          Consolidated statements of income - for the 
          three and nine months ended September 30,
          1997 and 1996...................................       4

          Consolidated statements of cash flows - for
          the nine months ended September 30,1997 
          and 1996........................................       5-6

          Condensed notes to the consolidated 
          financial statements - September 30,1997........       7-12

Item 2    Management's discussion and analysis of 
          financial condition and results of 
          operations - for the three and nine months
          ended September 30, 1997 and 1996...............       13-22

PART II OTHER INFORMATION

Item 2    Changes in Securities...........................       23

Item 6    Exhibit 27 - Financial Data Schedule    
                              
<PAGE>

                   NATIONAL COOPERATIVE BANK       
                  CONSOLIDATED BALANCE SHEETS
                          (Unaudited)
         
                                      September 30,           December 31,
                                  1997            1996            1996    
Assets
Cash and cash equivalents    $ 26,384,451    $ 24,848,153    $ 17,150,534
Restricted cash                 6,884,572       8,348,703       8,348,703
Investment securities
 Available-for-sale            32,283,476      29,872,870      30,337,100
 Held-to-maturity               2,795,783       3,045,425       2,946,425  
                                                     
Loans and lease financing     568,766,037     544,801,882     565,824,579
Loans held for sale           242,214,510     131,785,495     184,269,872
 Less: Allowance for loan
   losses                     (17,045,778)    (15,089,825)    (15,504,510)
                              793,934,769     661,497,552     734,589,941

Interest-only receivables      28,705,096      31,892,118      30,758,057
Premises and equipment, net     2,123,389       2,195,739       2,257,362
Other assets                   20,800,496       8,815,116      12,947,458

 Total assets                $913,912,032    $770,515,676    $839,335,580

Liabilities and Members' Equity
Liabilities
Deposits                     $ 82,042,601    $ 81,947,147    $ 88,620,002
Patronage dividends payable 
 in cash                        2,842,765       5,119,713       4,721,600
Other liabilities              22,153,670      17,004,947      11,332,033
Borrowings
 Short-term                   261,362,804     157,997,715     224,500,000
 Long-term                    233,659,822     202,078,691     202,137,077   
    
                              492,022,626     360,076,406     426,637,077
 Subordinated debt            182,802,883     182,869,445     182,853,313

 Total borrowings             674,825,509     542,945,851     609,490,390
 Total liabilities            784,864,545     647,017,658     714,164,025

Members' equity
Common stock
 Class B                       84,005,365      78,611,311      78,600,416
 Class C                       21,707,868      21,819,150      21,751,584
 Class D                              300             300             300
Retained earnings
 Allocated                      3,474,491       4,832,431       5,770,844
 Unallocated                   19,953,478      18,491,193      19,113,185
 Unrealized loss on investment 
  securities available-for-sale   (94,015)       (256,367)        (64,774)

 Total members' equity        129,047,487     123,498,018     125,171,555
 Total liabilities and 
    members' equity          $913,912,032    $770,515,676    $839,335,580
<PAGE>
<TABLE>
                           NATIONAL COOPERATIVE BANK
                       CONSOLIDATED STATEMENTS OF INCOME
                                  (Unaudited)
                                
                              Nine Months Ended Sept. 30, Three Months Ended Sept.30,
                                   1997         1996         1997        1996    
 
Interest income             
 <S>                          <C>          <C>          <C>          <C>
 Loans and lease financing    $47,961,897  $40,285,431  $17,073,791  $13,762,641
 Investment securities          3,227,878    2,871,104    1,021,234      987,589

   Total interest income       51,189,775   43,156,535   18,095,025   14,750,230

Interest expense
 Deposits                       2,971,432    3,030,438      954,298      993,646
 Short-term borrowings          9,154,820    5,034,547    3,529,479    1,662,704
 Long-term debt, other 
   borrowings and 
   subordinated debt           19,986,984   17,227,260    6,944,315    5,988,445

   Total interest expense      32,113,236   25,292,245   11,428,092    8,644,795

   Net interest income         19,076,539   17,864,290    6,666,933    6,105,435

Provision for loan losses       2,044,000      950,000      655,000      300,000

   Net interest income after 
    provision for loan losses  17,032,539   16,914,290    6,011,933    5,805,435

Non-interest income                          
 Gain (loss) on sale of 
   loans                        1,801,975    4,703,382       60,666     (234,095)
 Loan and deposit servicing 
   fees                         1,664,558    1,526,748      552,615      499,663
 Other                          4,571,608    4,131,288    1,688,303    1,809,918

                                8,038,141   10,361,418    2,301,584    2,075,486
                                   
Non-interest expenses
 Compensation and employee 
   benefits                     9,068,209    8,029,702    3,360,102    2,718,011
 Contractual services           2,604,307    2,946,599      878,021      936,052
 Occupancy and equipment        2,902,869    2,909,220    1,015,493    1,273,109
 Contribution to NCB
   Development Corporation        375,000      375,000      125,000      125,000
 Other                          1,782,847    2,268,064      689,370    1,136,887

   Total non-interest 
     expenses                  16,733,232   16,528,585    6,067,986    6,189,059    
Income before income taxes      8,337,448   10,747,123    2,245,531    1,691,862

Provision for income taxes      1,022,276      608,190      282,744      156,579

   Net income                 $ 7,315,172  $10,138,933  $ 1,962,787  $ 1,535,283

Distribution of net income 
 Patronage dividends          $ 7,315,172  $10,747,123  $ 1,962,787  $ 1,691,862
 Retained earnings                            (608,190)                 (156,579)
                              $ 7,315,172  $10,138,933  $ 1,962,787  $ 1,535,283
</TABLE>
<PAGE>

                    NATIONAL COOPERATIVE BANK
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)


For the nine months ended September 30,               1997           1996    

Cash flows from operating activities

Net income                                      $   7,315,172    $ 10,138,933 
Adjustments to reconcile net income to net
 cash used in operating activities
  Provision for loan losses                         2,044,000         950,000
  Depreciation and amortization                     4,014,516       4,052,958
  Gain on sale of assets                           (1,801,975)     (5,028,011)
  Loans originated for sale                      (170,827,847)   (240,309,266)
  Proceeds from sale of loans held for sale       146,619,898     143,577,309
  Increase in other assets                         (1,999,625)     (6,811,087)
  Increase in other liabilities                    10,345,915       8,396,746
 
 Net cash used in operating activities             (4,289,946)    (85,032,418)


Cash flows from investing activities
  Redemption of restricted cash                     1,464,131          -
  Purchases of investment securities
   Available-for-sale                              (5,516,353)     (7,293,886)
   Held-to-maturity                                     -          (1,007,783)
  Proceeds from maturities and sales of 
   investment securities
   Available-for-sale                               3,522,809       6,075,132 
   Held-to-maturity                                   150,624       1,090,000
  Net increase in loans and lease financing       (42,641,746)     (8,226,320)
  Proceeds from sale of portfolio loans                 -          26,278,305 
  Purchases of premises and equipment                (460,286)       (714,580)

 Net cash (used in) provided by investing
  activities                                      (43,480,821)     16,200,868

Cash flows from financing activities
  Net (decrease) increase in deposits              (6,577,401)      3,846,974
  Net increase in short-term borrowings            36,862,804      25,403,242
  Proceeds from issuance of 
   long-term debt                                  31,000,000      47,500,000
  Sale of common stock                                    400           -
  Dividends paid                                     (210,173)          -
  Redemption of common stock                            -             (18,000)
  Patronage dividends paid                         (4,070,946)     (4,341,889)

Net cash provided by financing activities          57,004,684      72,390,327

Increase in cash and cash equivalents               9,233,917       3,558,777
Cash and cash equivalents, beginning of year       17,150,534      21,289,376

Cash and cash equivalents, end of period        $  26,384,451    $ 24,848,153
<PAGE>

                    NATIONAL COOPERATIVE BANK
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)




Supplemental disclosures of noncash investing and financing activities:

For the nine months ended September 30,                1997           1996   

Unrealized loss on investment securities
 available-for-sale                              $   (29,241)     $  (510,406)

Interest paid                                     33,992,130       20,627,561

Income taxes paid                                  1,078,752          730,924

Loans charged off                                    677,168          528,145

Transfer of real estate owned from
 loans receivable to other assets                  5,168,018          879,000
<PAGE>

                     NATIONAL COOPERATIVE BANK
                CONDENSED NOTES TO THE CONSOLIDATED
                      FINANCIAL STATEMENTS
                       September 30, 1997
                           (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.

      Certain reclassifications have been made to the prior-period
amounts to conform with the current year's presentation.

1. Cash, Cash Equivalents and Investment Securities

  As of September 30, 1997, NCB's portfolio of investment
securities, cash and cash equivalents had an average adjusted
maturity of 985 days with interest rates in those portfolios varying
from 5.00% to 8.50%.
                              Cash and      Investment    Investment
                                 Cash        Available-     Held-to
                              Equivalents     for-Sale     Maturity 

  Cash                        $ 1,020,711   $    -        $    -
  Federal funds                 5,724,820        -             -
  Money market  securities     14,260,475        -             -
  Mutual funds                  5,378,445     2,074,442        -
  Mortgage-backed securities        -            -         2,795,783
  Corporate bonds                   -        12,513,636        -
  U.S. Treasury and
   Agency obligations               -        17,695,398        -    
                              $26,384,451   $32,283,476   $2,795,783
 

   At September 30, 1997, the investments in the available-for-sale
portfolio were recorded at aggregate fair value. As of December 31,
1996, restricted cash of $8,348,703 is held by a trustee for the
benefit of certificate holders in the event of loss on certain loans
sold of $37,300,000 and $92,623,000 in 1993 and 1992, respectively. 
The loans sold have original maturities of ten to fifteen years. The
restricted cash will become available to NCB I, Inc., as the
principal balance of the respective loans decreases. On August 1,
1997, $1,464,131 was received as a reduction of the restricted cash
account due to loan repayments.

2. Loans and Lease Financing

  Loans and leases outstanding by category at September 30, 1997
were:

     Commercial loans                           $341,236,076
     Lease financing                              14,554,791
     Real estate loans
       Residential                               448,100,857
       Commercial                                  7,088,823

                                                $810,980,547


  At September 30, 1997 and 1996 and December 31, 1996 real estate
loans held for sale were $242.2 million, $131.8 million and $184.3
million, respectively.  

3.    Impaired Assets

  Loans that became impaired after January 1, 1996 totalled
$4,833,838 and $1,979,308 at September 30, 1997 and 1996,
respectively. The 1997 impaired loans are comprised of nonaccrual
loans and a restructured loan totalling $3,801,463 and $1,032,375,
respectively. The 1996 impaired loans are comprised of nonaccrual
loans and a restructured loan totalling $1,282,100 and $697,208,
respectively. A specific allowance of $1,428,349 and $244,000 was
set aside for these loans at September 30, 1997 and 1996,
respectively, as management's best estimate of their fair value is
less than the  recorded investment in the loans. During 1997 and
1996, the interest collected on the nonaccrual loans was applied to
reduce the outstanding principal. Interest earned on the
restructured loans totalled $346,002 and $40,271 during the  nine
months ended September 30, 1997 and 1996, respectively.                         

  At September 30, 1997  there were no commitments to lend
additional funds to borrowers whose loans are non-performing.

  At September 30, 1997 and 1996 and December 31,1996, NCB had real
estate acquired through foreclosure  of $5,544,726, $518,563 and
$376,708, 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 nine months ended September 30, 1997:

  Balance at January 1, 1997                   $15,504,510
  Provision for loan losses                      2,044,000
  Charge-offs                                     (677,168)
  Recoveries of loans previously charged off       174,436

  Balance at September 30, 1997                $17,045,778

  The allowance for loan losses as a percentage of average loans
and lease financing outstanding as of the nine months ended
September 30, 1997 was 2.3%.
<TABLE>
5.   Statement of Changes in Members' Equity

  The following is a summary of the activity in members' equity for the nine
months ended September 30, 1997:
     
                                        Retained    Retained                    Total
                             Common     Earnings    Earnings      Unrealized   Members'
                              Stock     Allocated  Unallocated    Gain(Loss)   Equity   

<S>                       <C>          <C>         <C>         <C>        <C>
Balance, December 31, 1996 $100,352,300 $ 5,770,844 $19,113,185 $ (64,774)  $125,171,555
Net income                       -           -        7,315,172       -        7,315,172
Proceeds from issuance of
  common stock                      400      -           -            -              400
Cancellation and redemption
  of stock                   (1,131,966)     -          341,842       -         (790,124)
1996 patronage dividends
  Distributed in common
  stock and cash              6,492,799  (6,690,367)     -            -         (197,568)
Other dividends paid             -           -         (210,173)      -         (210,173)
1997 patronage dividends
  To be distributed in cash      -           -       (2,212,534)      -      (2,212,534)
  Retained in form of equity     -        4,394,014  (4,394,014)      -               0
Unrealized loss on investment
  securities available for
  sale                           -           -           -        (29,241)      (29,241)

Balance, September 30,1997 $105,713,533 $ 3,474,491 $19,953,478 $ (94,015) $129,047,487<PAGE>
</TABLE>

6.   Subsequent Event

  On October 1, 1997, NCB sold approximately $196.2 million in whole
loans, servicing retained, to an unrelated third party generating a net
gain, including fees, of approximately $5.4 million.

7.   New Financial Accounting Standards

  In June, 1996, Statement of Financial Accounting Standards("SFAS") No.
125, "Accounting for Transfers and Servicing of Financial Assets and
Extinguishments of Liabilities" was issued.  SFAS No. 125 provides
accounting and reporting standards for transfers and servicing of
financial assets and extinguishments of liabilities, based on a financial-
components approach that focuses on control.  Under this approach, after
a transfer of financial assets, financial and servicing assets are
recognized if controlled or liabilities are recognized if incurred. 
Financial and servicing assets are removed from the statement of income
when control has been surrendered and liabilities are removed when
extinguished.  SFAS No. 125 was effective and adopted by NCB on January
1, 1997 and was applied prospectively.  NCB did not experience any
material effect on its financial position from this implementation.

  In February, 1997, SFAS No. 129,"Disclosure of Information about
Capital Structure" was issued. SFAS No. 129 establishes standards for
disclosing information about an entity's capital structure. This statement
continues the previous requirements to disclose certain information about
an entity's capital structure found in APB Opinion 10, Omnibus Opinion -1966 
and FASB Statement No. 47, Disclosure of Long-Term Obligations.  This
statement shall be effective for financial statements for periods ending
after December 15, 1997. NCB does not anticipate any material impact from
the implementation of SFAS No. 129.

  In June, 1997, SFAS No. 130 was issued - "Reporting Comprehensive
Income".  SFAS No. 130 requires that certain financial activity typically
disclosed in members' equity be reported in the statements of income as
an adjustment to net income in determining comprehensive income.  The only
item applicable to the Bank would include gain/loss on securities
available-for-sale.  Items identified as comprehensive income should be
reported also in the  statements of comprehensive income and the statements 
of changes in members' equity, under separate captions.  SFAS No. 130 is 
effective for NCB on January 1, 1998, including the restatement of prior 
periods reported consistent with this pronouncement.  NCB does not 
anticipate any material financial impact from the implementation of SFAS 
No. 130.

  In June, 1997, SFAS No. 131 was issued - "Disclosures about Segments
of an Enterprise and Related Information".  SFAS 131 requires the
reporting of selected segmented information in quarterly and annual
reports.  Information from operating segments is derived from methods used
by NCB's management to allocate resources and measure performance.  NCB
is required to disclose profit and losses, revenues and assets for each
segment identified, including reconciliations of these items to
consolidated totals.  NCB is also required to disclose the basis for
identifying the segments and the type of products and services within each
segment.  SFAS No. 131 is effective for NCB on January 1, 1998, including
the restatement of prior periods reported consistent with this
pronouncement, if practical.  NCB does not anticipate any material impact
from the implementation SFAS No. 131.
<PAGE>
                    NATIONAL COOPERATIVE BANK
   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION 
                    AND RESULTS OF OPERATIONS
 FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 1997 AND 1996


SUMMARY

  NCB's net income for the nine months ended September 30, 1997 was $7.3
million.  This was a 27.9% or $2.8 million decrease compared with $10.1
million for the nine months ended September 30, 1996.  The variance
resulted primarily from a 22.4% decrease in non interest income and an
increase in the provision for loan losses of 115.2%.  For the three month
period, net income increased to $2.0 million from $1.5 million due to an
increase in net interest income and non interest-income. 

  Total assets were $913.9 million at September 30, 1997, representing
growth of $74.6 million or 8.9%  from $839.3 million at December 31, 1996. 
This  growth resulted from increases in loan receivables, net of allowance
for loan losses, of $59.3 million, cash, cash equivalents, restricted cash
and investments of $9.6 million and remaining assets of $5.7 million.

  The annualized return on average total assets was 1.15% for the nine
months of 1997 compared with 1.89% for the same period in 1996.  The
annualized return on average equity for the period ended September 30,
1997 and 1996 was 7.63% and 11.16%, respectively.

NET INTEREST INCOME

  Net interest income for the nine months ended September 30, 1997
increased 6.8% or $1.2 million from the same period in the prior year.  
As shown on Table 2, the increase resulted primarily from higher volume
of loans and leases outstanding. In comparison to the year earlier
quarter, net interest income for the three months ended September 30,1997
increased 9.2% or $561 thousand.  As shown on Table 2A, there were
positive variances of $258 thousand and $302 thousand related to volume
and yield, respectively.

  As shown on Table 1 and 1A, the net yield on interest earning assets
dropped 36 basis points to 3.17% from 3.53% and 19 basis points to 3.37%
from 3.56% for the nine month and three month periods ended September
30,1997.  This is due largely to the repricing in October, 1996 of $36
million of subordinated debt and to the increased volume in 1997 of loans
held for sale.

  For the nine months ended September 30,1997, interest income went up
18.6% or $8.0 million to $51.2 million compared with $43.2 million from
the prior year. The increase in interest income was mostly due to a higher
average balance of the interest earning assets. As shown on Table 1, the 
average rate of the interest earning assets was flat for both nine month
periods ended September 30. As shown on Table 2, interest income for the
nine month ended September 30, 1997 increased $8.1 million due to
increased volume but decreased $142 thousand due to a drop in interest
rates.   
 
  Interest income increased 22.7% or $3.3 million to $18.1 million for
the three months ended September 30, 1997 compared with $14.8 million of
the prior year's quarter.  As shown on Table 2A, interest income increased
$2.4 million and $991 thousand due to increased volume and increasing rate
environment,respectively.

  Interest expense increased $6.8 million to $32.1 million for the nine
months ended September 30, 1997 compared with $25.3 million for the same
period in 1996. For the three month period ended September 30, 1997,
interest expense increased $2.8 million to $11.4 million from $8.6 million 
for the three months ended September 30, 1996. As shown on Table 1 and
Table 1A, the yield on interest bearing liabilities at September 30, 1997
and for the quarter ended September 30, 1997 went up 24 basis points and
77 basis points, respectively. The increase was due to the repricing of
the $53.5 million of subordinated debt and the use of the short term and
long term facilities to fund growth of the loans held for sale. 


NON-INTEREST INCOME

  Non-interest income for the nine months ended September 30, 1997 of
$8.04 million decreased 22.4% or $2.3 million from $10.4 million for the
same period last year.  The majority of the decrease was caused by a
lesser amount of asset sales to the secondary market.  The fees and gains
on sale of blanket mortgages totalled $4.7 million for the nine months
ended September 30,1996 compared with $1.8 million in the same period in
1997.  This decrease was partially offset by an increase of $578.1
thousand in servicing fees and other income due to an increase in the
servicing portfolio.

  For the three month period ended September 30, 1997 non-interest income
went up 10.9% to $2.3 million from $2.1 million at the same period in the
prior year.


NON-INTEREST EXPENSES

  Non-interest expenses for the nine months ended September 30, 1997
slightly increased 1.2% or $204.6 thousand to $16.7 million from $16.5
million for the nine months ended September 30, 1996. Compensation and
benefits, the largest component of non-interest expenses, increased 12.9%
or $1.0 million due to a higher employee base at the start of 1997 and
also to higher bonus accruals for the current period compared with 1996.
Contractual services and other expenses decreased 15.9% or $827.5 thousand 
due to management's continued emphasis on prudent controls of non-interest 
expenses. Excluding the voluntary contribution to NCB Development 
Corporation, non-interest expense as a percentage of average assets, 
decreased  to 1.9% for the nine months ended September 30, 1997 from 2.3% 
for the nine months ended September 30,1996.

  For the three months ended September 30, 1997, non-interest expenses
decreased $121.1 thousand or 2% to $6.1 million from $6.2 million for the
same period in 1996.  Compensation and employee benefits increased 23.6%
or $642.1 from $2.7 million for the three month period in the prior year. 
The increase was primarily due to the timing of new hires and greater
commissions paid to loan officers because of higher loan production.  This
increase was offset by decreases in contractual services, occupancy and
equipment and other expenses in the total amount of $763.2 thousand. 
Payment of FDIC insurance premium during the third quarter of 1996 
accounted for 67.3% of this decrease.
<PAGE>
Table 1
Rate Related Assets and Liabilities
(dollars in thousands)
                             Nine Months Ended September 30,
ASSETS                             1997                      1996             
                       Average    Income/  Yields/ Average  Income/  Yields/
                       Balance    Expense  Rates   Balance  Expense  Rates

Interest earning assets
 [S]                    [C]       [C]      [C]    [C]       [C]      [C]
 Real estate loans      $369,237  $24,198  8.74%  $287,824  $19,733  9.14%
 Commercial loans                   
   and leases            368,887   23,764  8.59%   327,740   20,552  8.36%

 Total loans and
  leases                 738,124   47,962  8.66%   615,564   40,285  8.73%

 Investment securities
  and cash equivalents    63,291    3,228  6.80%    59,857    2,871  6.40%

 Total interest earning
  assets                 801,415   51,190  8.52%   675,421   43,156  8.52%

Allowance for loan 
  losses                 (16,492)                  (14,863)

Non-interest earning assets
 Cash                      5,089                     3,541
 Other assets             59,133                    46,077

 Total non-interest         
  earning assets          64,222                    49,618

 Total assets           $849,145                  $710,176

LIABILITIES AND MEMBERS' EQUITY

Interest bearing liabilities
 Subordinated debt      $182,542    7,797  5.70%  $182,970    7,084  5.16%
 Notes payable           426,120   21,345  6.68%   303,255   15,178  6.67%
 Deposits                 83,892    2,971  4.72%    81,606    3,030  4.95%
 Total interest bearing
    liabilities          692,554   32,113  6.18%   567,831   25,292  5.94%

Other liabilities         35,556                    21,310
Members' equity          121,035                   121,035
 Total liabilities and
    members' equity     $849,145                  $710,176

Net interest earning
 assets                 $108,861                  $107,590
Net interest revenues                                      
 and spread                       $19,007  2.33%            $17,864  2.58%
Net yield on 
 interest earning assets                   3.17%                     3.53%
<PAGE>
Table 1A
Rate Related Assets and Liabilities
(dollars in thousands)
                              Three Months Ended September 30,
ASSETS                               1997                       1996           
                          Average   Income/  Yields/ Average   Income/ Yields/
                          Balance   Expense  Rates   Balance   Expense Rates

Interest earning assets
 Real estate loans        $357,963  $ 9,043  10.11%  $302,579  $ 6,968  9.21%
 Commercial loans
  and leases               369,832    8,030   8.69%   334,263    6,795  8.13%

 Total loans and
  leases                   727,795   17,073   9.38%   636,842   13,763  8.64%

 Investment securities
  and cash equivalents      64,029    1,021   6.38%    50,058      988  7.89%

 Total interest earning
  assets                   791,824   18,094   9.14%   686,900   14,751  8.59%

Allowance for loan 
  losses                   (17,107)                   (15,037)

Non-interest earning assets
 Cash                        6,585                      4,382
 Other assets               62,334                     51,567
 Total non-interest 
  earning assets            68,919                     55,949

 Total assets             $843,636                   $727,812

LIABILITIES AND MEMBERS' EQUITY

Interest bearing liabilities
 Subordinated debt        $182,542    2,630  5.76%  $182,934    2,394  5.23%
 Notes payable             415,187    7,843  7.56%   318,134    5,257  6.61%
 Deposits                   84,501      954  4.52%    81,804      994  4.86%

 Total interest bearing
  liabilities              682,230   11,427  6.70%   582,872    8,645  5.93%

Other liabilities           33,787                    21,806
Members' equity            127,619                   123,134
 Total liabilities and
  members' equity         $843,636                  $727,812

Net interest earning 
 assets                   $109,594                  $104,028
Net interest revenues                                     
 and spread                         $ 6,667  2.44%            $ 6,106  2.66%
Net yield on 
 interest earning assets                     3.37%                     3.56%

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

For the nine months ended September 30, 1997 compared to 1996
  
                          Increase (decrease) due to changes in:

                                 Average   Average
                                 Volume*    Yield         Net**  

Interest Income

Cash equivalents and 
 investment securities         $  170      $   187     $  357
Commercial loans and leases     2,638          574      3,212
Real estate loans               5,369         (903)     4,466
 
 Total interest income          8,177         (142)     8,035

Interest Expense

Deposits                           83         (142)       (59)
Notes payable                   6,977         (810)     6,167
Subordinated debt                 (17)         729        712

 Total interest expense         7,043         (223)     6,820

Net interest income            $1,134      $    81     $1,215


* 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.

<PAGE>
Table 2A
Change in Net Interest Income
(dollars in thousands)

For the three months ended September 30, 1997 compared to 1996 
                             
                             Increase (decrease) due to changes
                             in:

                             Average    Average
                             Volume*     Yield     Net**
Interest Income

Cash equivalents and 
 investment securities       $  244     $(211)    $   33
Commercial loans and leases     753       483      1,236  
Real estate loans             1,356       719      2,075
 
 Total interest income        2,353       991      3,344

Interest Expense

Deposits                         32       (71)       (39)
Notes payable                 2,068       518      2,586
Subordinated debt                (5)      242        237

 Total interest expense       2,095       689      2,784

Net interest income          $  258     $ 302     $  560


* 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.

<PAGE>
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 federal income tax provision for the nine
months ended September 30, 1997  was $1.02 million compared with the
prior year's provision of $608 thousand.

CASH, CASH EQUIVALENTS AND INVESTMENT SECURITIES

 Cash, cash equivalents and investment securities at September 30,
1997 increased  $11.0 million or 21.9% from $50.4 million at year-end 1996.
As a percentage of earning assets, cash, cash equivalents
and investment securities decreased to 7.0%  at September 30, 1997 
from 7.3% at December 31, 1996.  

ALLOWANCE FOR LOAN LOSSES

 The allowance for loan losses at September 30, 1997 increased 9.9%
to $17.0 million from $15.5 million at December 31, 1996.  The
allowance during the period was impacted by loans charged off, net
of recoveries of loans previously charged off, amounting to $502.7
thousand and the loan loss provision of $2.04 million. Net
chargeoffs as a percentage of average loans and leases outstanding
are .07% for both the nine months ended September 30,1997 and 1996
compared with .2% for the year ended December 31, 1996. For the nine
months ended September 30,1997, NCB's provision for loan losses as
a percentage of average loans and leases outstanding at September
30, 1997 increased to .4% compared with .1% for the same period in
1996.  The increase in the provision is the result of two factors:
1) growth in the real estate and commercial portfolio from the prior
year, and 2) management's assessment that additional provision
should be recorded due to the current economic environment. 

 The loan loss allowance as a percentage of average loans and
leases increased to 2.3% at September 30, 1997 from 2.1% at December
31, 1996.  Overall, credit quality remained strong and management
considers the current allowance to be adequate to absorb known and
inherent risks in the loan portfolio.

 As shown in Table 3,  total nonperforming assets (restructured and
non-accruing loans and real estate owned) increased 42.4% from $8.1
million at December 31, 1996 to $11.6 million at September 30, 1997. 
The increase was the result of a foreclosure on a $5.4 million loan to
a food wholesaler in the month of September, 1997. Nonperforming 
assets as a percentage of loans and leases outstanding plus real estate 
owned were 1.4% at September 30, 1997 compared with 1.1% at year-end 
1996.  The allowance for loan losses as a percentage of nonperforming 
assets decreased to 147.4% at September 30,1997 from 190.8% at 
December 31, 1996.

INTEREST BEARING LIABILITIES

Interest bearing liabilities
(dollars in thousands)
                    9/30/97         12/31/96      % Change
Deposits           $ 82,043        $ 88,620          (7.4%)
Short term debt     261,363         224,500          16.4%
Long term debt      233,660         202,137          15.6%
Subordinated debt   182,803         182,853           0.0%

 Total             $756,869        $698,110           8.4%

    Interest bearing liabilities increased by 8.4% to $756.9 million
at September 30, 1997 from $698.1 million at December 31, 1996.

    For the first nine months of 1997, deposits at NCB Saving Bank,
FSB dropped 7.4% to $82.0 million. The decrease was attributable to
scheduled maturities of certificate of deposits. Average maturity
of the certificates of deposits is 13 months. 

    At September 30,1997, total short term and long term borrowings
(including the subordinated debt) increased 10.7% from year-end
1996.  Proceeds from the borrowings were used to fund asset growth,
largely the loans available for sale. NCB had approximately $258.4
million outstanding on its short term facilities at the end of the
quarter.  Included in the short term borrowings are $31.4 million
from an affiliate and cooperative entities and $30.0 million of
commercial paper.  Long term debt increased 15.6% from year-end 1996
due to the issuance of $40.0 million of  medium-term notes and $10.0
million under the long term facilities; such increase  was partially
offset by a paydown of $19.0 million in long-term notes. Unused
capacities under the short term and long term facilities of
approximately $153.0 million and $90.0 million, respectively, are
sufficient to meet anticipated commitments during 1997.
<PAGE>
TABLE 3
Nonperforming assets
(dollars in thousands)

                    Sept. 30, June 30,  March 31,  Dec. 31,   Sept. 30, 
                      1997      1997      1997       1996       1996    

Real estate owned   $ 5,545   $   208   $  377     $  377     $  518

Non-accruing          3,801     5,577    2,731      2,601      1,282  

Restructured          2,218     5,028    5,098      5,147      4,115

Total               $11,564   $10,813   $8,206     $8,125     $5,915
<PAGE>
Part II Other Information

Item 2. Changes in Securities

 (c) During the period covered by this report, NCB sold one share
of its Class C stock without registration under the Securities Act
of 1933 (the "1933 Act") in reliance on the exemption from
registration provided by section 4 (2) of the 1933 Act.  The stock
was sold for $100 in cash without any underwriting discounts or
commissions to a cooperative organization eligible to obtain loans
from NCB.  The stock was not offered to the general public; the
purchaser had access to essentially the same information that would
be contained in a registration statement and had the capability to
evaluate the merits of such an investment.





                            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 thereunto 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
                                  


<PAGE>

                                                  Exhibit No. 27
                     Financial Data Schedule
                                
            Appendix C to Item 601  of Regulation S-K
  Bank Holding Companies and Savings and Loan Holding Companies
                   Article 9 of Regulation S-X

   Item Number         Item Description                     Amount

   9-03 (1)            Cash                                    1,020,711
   9-03 (2)            Int-bearing deposits                   19,638,920
   9-03 (3)            Fed-Funds-Sold                          5,724,820
   9-03 (4)            Trading-Assets                                  0
   9-03 (6)            Investments-Held-For-Sale              35,019,259
   9-03 (6)            Investments-Carrying                            0
   9-03 (7)            Loans                                 810,980,547
   9-03 (7) (2)        Allowance                              17,045,778
   9-03 (11)           Total-Assets                          913,912,032
   9-03 (12)           Deposits                               82,042,601
   9-03 (13)           Short-Term                            261,362,804
   9-03 (15)           Liabilities-Other                      24,996,435
   9-03 (16)           Long-Term                             416,462,705
   9-03 (21)           Common                                105,713,533
   9-03 (22)           Other Stock Equity                         94,015
   9-03 (23)           Total-Liability-And-Equity            913,912,032
   9-04 (1)            Interest-Loan                          47,961,897
   9-04 (2)            Interest-Invest                         3,227,878
   9-04 (5)            Interest-Total                         51,189,775
   9-04 (6)            Interest-Deposit                        2,971,432
   9-04 (9)            Total Interest-Expense                 32,113,236
   9-04 (10)           Interest-Income-Net                    19,076,539
   9-04 (11)           Loan-Losses                             2,004,000
   9-04 (13) (h)       Securities-Gains/Loss                           0
   9-04 (14)           Expense-Other                          16,733,232
   9-04 (15)           Income-Pretax                           8,337,448
   9-04 (20)           Net-Income                              7,315,172
   9-04 (21)           EPS - Primary                                9.23
   9-04 (21)           EPS - Diluted                                9.23
   I.B.5               Yield-Actual Int Earning                     3.17
   III.C.1 (a)         Loans-Non-accrual                       3,801,463
   III.C.1 (b)         Loans-Past 90 days                      1,164,683
   III.C.1.(c)         Loans-Troubled                          2,218,862
   III.C.2             Loans-Potential Problem                         0
   IV.A.1              Allowance-Beginning                    15,504,510
   IV.A.2              Charge-Offs                               677,168
   IV.A.3              Recoveries                                174,436
   IV.A.4              Allowance-End                          17,045,778
   IV.B.1              Allowance-Domestic                              0
   IV.B.2              Allowance-Foreign                               0
   IV.B.3              Allowance-Unallocated                  17,045,778
[{"type": "10-Q", "sequence": "1", "secsgml_size_bytes": 45746}]
{"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": "97719582"}, "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 September 30, 1997  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 September 30, 1997

    Class C                                  217,079
(Common stock, $100.00 par value)                              

    Class B                                  840,054
(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 - September 30,
          1997 and 1996 and December 31, 1996............        3

          Consolidated statements of income - for the 
          three and nine months ended September 30,
          1997 and 1996...................................       4

          Consolidated statements of cash flows - for
          the nine months ended September 30,1997 
          and 1996........................................       5-6

          Condensed notes to the consolidated 
          financial statements - September 30,1997........       7-12

Item 2    Management's discussion and analysis of 
          financial condition and results of 
          operations - for the three and nine months
          ended September 30, 1997 and 1996...............       13-22

PART II OTHER INFORMATION

Item 2    Changes in Securities...........................       23

Item 6    Exhibit 27 - Financial Data Schedule
NATIONAL COOPERATIVE BANK       
                  CONSOLIDATED BALANCE SHEETS
                          (Unaudited)
         
                                      September 30,           December 31,
                                  1997            1996            1996    
Assets
Cash and cash equivalents    $ 26,384,451    $ 24,848,153    $ 17,150,534
Restricted cash                 6,884,572       8,348,703       8,348,703
Investment securities
 Available-for-sale            32,283,476      29,872,870      30,337,100
 Held-to-maturity               2,795,783       3,045,425       2,946,425  
                                                     
Loans and lease financing     568,766,037     544,801,882     565,824,579
Loans held for sale           242,214,510     131,785,495     184,269,872
 Less: Allowance for loan
   losses                     (17,045,778)    (15,089,825)    (15,504,510)
                              793,934,769     661,497,552     734,589,941

Interest-only receivables      28,705,096      31,892,118      30,758,057
Premises and equipment, net     2,123,389       2,195,739       2,257,362
Other assets                   20,800,496       8,815,116      12,947,458

 Total assets                $913,912,032    $770,515,676    $839,335,580

Liabilities and Members' Equity
Liabilities
Deposits                     $ 82,042,601    $ 81,947,147    $ 88,620,002
Patronage dividends payable 
 in cash                        2,842,765       5,119,713       4,721,600
Other liabilities              22,153,670      17,004,947      11,332,033
Borrowings
 Short-term                   261,362,804     157,997,715     224,500,000
 Long-term                    233,659,822     202,078,691     202,137,077   
    
                              492,022,626     360,076,406     426,637,077
 Subordinated debt            182,802,883     182,869,445     182,853,313

 Total borrowings             674,825,509     542,945,851     609,490,390
 Total liabilities            784,864,545     647,017,658     714,164,025

Members' equity
Common stock
 Class B                       84,005,365      78,611,311      78,600,416
 Class C                       21,707,868      21,819,150      21,751,584
 Class D                              300             300             300
Retained earnings
 Allocated                      3,474,491       4,832,431       5,770,844
 Unallocated                   19,953,478      18,491,193      19,113,185
 Unrealized loss on investment 
  securities available-for-sale   (94,015)       (256,367)        (64,774)

 Total members' equity        129,047,487     123,498,018     125,171,555
 Total liabilities and 
    members' equity          $913,912,032    $770,515,676    $839,335,580
NATIONAL COOPERATIVE BANK
                       CONSOLIDATED STATEMENTS OF INCOME
                                  (Unaudited)
                                
                              Nine Months Ended Sept. 30, Three Months Ended Sept.30,
                                   1997         1996         1997        1996    
 
Interest income
Loans and lease financing    $47,961,897  $40,285,431  $17,073,791  $13,762,641
 Investment securities          3,227,878    2,871,104    1,021,234      987,589

   Total interest income       51,189,775   43,156,535   18,095,025   14,750,230

Interest expense
 Deposits                       2,971,432    3,030,438      954,298      993,646
 Short-term borrowings          9,154,820    5,034,547    3,529,479    1,662,704
 Long-term debt, other 
   borrowings and 
   subordinated debt           19,986,984   17,227,260    6,944,315    5,988,445

   Total interest expense      32,113,236   25,292,245   11,428,092    8,644,795

   Net interest income         19,076,539   17,864,290    6,666,933    6,105,435

Provision for loan losses       2,044,000      950,000      655,000      300,000

   Net interest income after 
    provision for loan losses  17,032,539   16,914,290    6,011,933    5,805,435

Non-interest income                          
 Gain (loss) on sale of 
   loans                        1,801,975    4,703,382       60,666     (234,095)
 Loan and deposit servicing 
   fees                         1,664,558    1,526,748      552,615      499,663
 Other                          4,571,608    4,131,288    1,688,303    1,809,918

                                8,038,141   10,361,418    2,301,584    2,075,486
                                   
Non-interest expenses
 Compensation and employee 
   benefits                     9,068,209    8,029,702    3,360,102    2,718,011
 Contractual services           2,604,307    2,946,599      878,021      936,052
 Occupancy and equipment        2,902,869    2,909,220    1,015,493    1,273,109
 Contribution to NCB
   Development Corporation        375,000      375,000      125,000      125,000
 Other                          1,782,847    2,268,064      689,370    1,136,887

   Total non-interest 
     expenses                  16,733,232   16,528,585    6,067,986    6,189,059    
Income before income taxes      8,337,448   10,747,123    2,245,531    1,691,862

Provision for income taxes      1,022,276      608,190      282,744      156,579

   Net income                 $ 7,315,172  $10,138,933  $ 1,962,787  $ 1,535,283

Distribution of net income 
 Patronage dividends          $ 7,315,172  $10,747,123  $ 1,962,787  $ 1,691,862
 Retained earnings                            (608,190)                 (156,579)
                              $ 7,315,172  $10,138,933  $ 1,962,787  $ 1,535,283
NATIONAL COOPERATIVE BANK
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)

For the nine months ended September 30,               1997           1996    

Cash flows from operating activities

Net income                                      $   7,315,172    $ 10,138,933 
Adjustments to reconcile net income to net
 cash used in operating activities
  Provision for loan losses                         2,044,000         950,000
  Depreciation and amortization                     4,014,516       4,052,958
  Gain on sale of assets                           (1,801,975)     (5,028,011)
  Loans originated for sale                      (170,827,847)   (240,309,266)
  Proceeds from sale of loans held for sale       146,619,898     143,577,309
  Increase in other assets                         (1,999,625)     (6,811,087)
  Increase in other liabilities                    10,345,915       8,396,746
 
 Net cash used in operating activities             (4,289,946)    (85,032,418)

Cash flows from investing activities
  Redemption of restricted cash                     1,464,131          -
  Purchases of investment securities
   Available-for-sale                              (5,516,353)     (7,293,886)
   Held-to-maturity                                     -          (1,007,783)
  Proceeds from maturities and sales of 
   investment securities
   Available-for-sale                               3,522,809       6,075,132 
   Held-to-maturity                                   150,624       1,090,000
  Net increase in loans and lease financing       (42,641,746)     (8,226,320)
  Proceeds from sale of portfolio loans                 -          26,278,305 
  Purchases of premises and equipment                (460,286)       (714,580)

 Net cash (used in) provided by investing
  activities                                      (43,480,821)     16,200,868

Cash flows from financing activities
  Net (decrease) increase in deposits              (6,577,401)      3,846,974
  Net increase in short-term borrowings            36,862,804      25,403,242
  Proceeds from issuance of 
   long-term debt                                  31,000,000      47,500,000
  Sale of common stock                                    400           -
  Dividends paid                                     (210,173)          -
  Redemption of common stock                            -             (18,000)
  Patronage dividends paid                         (4,070,946)     (4,341,889)

Net cash provided by financing activities          57,004,684      72,390,327

Increase in cash and cash equivalents               9,233,917       3,558,777
Cash and cash equivalents, beginning of year       17,150,534      21,289,376

Cash and cash equivalents, end of period        $  26,384,451    $ 24,848,153
NATIONAL COOPERATIVE BANK
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)

Supplemental disclosures of noncash investing and financing activities:

For the nine months ended September 30,                1997           1996   

Unrealized loss on investment securities
 available-for-sale                              $   (29,241)     $  (510,406)

Interest paid                                     33,992,130       20,627,561

Income taxes paid                                  1,078,752          730,924

Loans charged off                                    677,168          528,145

Transfer of real estate owned from
 loans receivable to other assets                  5,168,018          879,000
NATIONAL COOPERATIVE BANK
                CONDENSED NOTES TO THE CONSOLIDATED
                      FINANCIAL STATEMENTS
                       September 30, 1997
                           (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.

      Certain reclassifications have been made to the prior-period
amounts to conform with the current year's presentation.

1. Cash, Cash Equivalents and Investment Securities

  As of September 30, 1997, NCB's portfolio of investment
securities, cash and cash equivalents had an average adjusted
maturity of 985 days with interest rates in those portfolios varying
from 5.00% to 8.50%.
                              Cash and      Investment    Investment
                                 Cash        Available-     Held-to
                              Equivalents     for-Sale     Maturity 

  Cash                        $ 1,020,711   $    -        $    -
  Federal funds                 5,724,820        -             -
  Money market  securities     14,260,475        -             -
  Mutual funds                  5,378,445     2,074,442        -
  Mortgage-backed securities        -            -         2,795,783
  Corporate bonds                   -        12,513,636        -
  U.S. Treasury and
   Agency obligations               -        17,695,398        -    
                              $26,384,451   $32,283,476   $2,795,783
 

   At September 30, 1997, the investments in the available-for-sale
portfolio were recorded at aggregate fair value. As of December 31,
1996, restricted cash of $8,348,703 is held by a trustee for the
benefit of certificate holders in the event of loss on certain loans
sold of $37,300,000 and $92,623,000 in 1993 and 1992, respectively. 
The loans sold have original maturities of ten to fifteen years. The
restricted cash will become available to NCB I, Inc., as the
principal balance of the respective loans decreases. On August 1,
1997, $1,464,131 was received as a reduction of the restricted cash
account due to loan repayments.

2. Loans and Lease Financing

  Loans and leases outstanding by category at September 30, 1997
were:

     Commercial loans                           $341,236,076
     Lease financing                              14,554,791
     Real estate loans
       Residential                               448,100,857
       Commercial                                  7,088,823

                                                $810,980,547

  At September 30, 1997 and 1996 and December 31, 1996 real estate
loans held for sale were $242.2 million, $131.8 million and $184.3
million, respectively.  

3.    Impaired Assets

  Loans that became impaired after January 1, 1996 totalled
$4,833,838 and $1,979,308 at September 30, 1997 and 1996,
respectively. The 1997 impaired loans are comprised of nonaccrual
loans and a restructured loan totalling $3,801,463 and $1,032,375,
respectively. The 1996 impaired loans are comprised of nonaccrual
loans and a restructured loan totalling $1,282,100 and $697,208,
respectively. A specific allowance of $1,428,349 and $244,000 was
set aside for these loans at September 30, 1997 and 1996,
respectively, as management's best estimate of their fair value is
less than the  recorded investment in the loans. During 1997 and
1996, the interest collected on the nonaccrual loans was applied to
reduce the outstanding principal. Interest earned on the
restructured loans totalled $346,002 and $40,271 during the  nine
months ended September 30, 1997 and 1996, respectively.                         

  At September 30, 1997  there were no commitments to lend
additional funds to borrowers whose loans are non-performing.

  At September 30, 1997 and 1996 and December 31,1996, NCB had real
estate acquired through foreclosure  of $5,544,726, $518,563 and
$376,708, 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 nine months ended September 30, 1997:

  Balance at January 1, 1997                   $15,504,510
  Provision for loan losses                      2,044,000
  Charge-offs                                     (677,168)
  Recoveries of loans previously charged off       174,436

  Balance at September 30, 1997                $17,045,778

  The allowance for loan losses as a percentage of average loans
and lease financing outstanding as of the nine months ended
September 30, 1997 was 2.3%.

5.   Statement of Changes in Members' Equity

  The following is a summary of the activity in members' equity for the nine
months ended September 30, 1997:
     
                                        Retained    Retained                    Total
                             Common     Earnings    Earnings      Unrealized   Members'
                              Stock     Allocated  Unallocated    Gain(Loss)   Equity
Balance, December 31, 1996 $100,352,300 $ 5,770,844 $19,113,185 $ (64,774)  $125,171,555
Net income                       -           -        7,315,172       -        7,315,172
Proceeds from issuance of
  common stock                      400      -           -            -              400
Cancellation and redemption
  of stock                   (1,131,966)     -          341,842       -         (790,124)
1996 patronage dividends
  Distributed in common
  stock and cash              6,492,799  (6,690,367)     -            -         (197,568)
Other dividends paid             -           -         (210,173)      -         (210,173)
1997 patronage dividends
  To be distributed in cash      -           -       (2,212,534)      -      (2,212,534)
  Retained in form of equity     -        4,394,014  (4,394,014)      -               0
Unrealized loss on investment
  securities available for
  sale                           -           -           -        (29,241)      (29,241)

Balance, September 30,1997 $105,713,533 $ 3,474,491 $19,953,478 $ (94,015) $129,047,487
6.   Subsequent Event

  On October 1, 1997, NCB sold approximately $196.2 million in whole
loans, servicing retained, to an unrelated third party generating a net
gain, including fees, of approximately $5.4 million.

7.   New Financial Accounting Standards

  In June, 1996, Statement of Financial Accounting Standards("SFAS") No.
125, "Accounting for Transfers and Servicing of Financial Assets and
Extinguishments of Liabilities" was issued.  SFAS No. 125 provides
accounting and reporting standards for transfers and servicing of
financial assets and extinguishments of liabilities, based on a financial-
components approach that focuses on control.  Under this approach, after
a transfer of financial assets, financial and servicing assets are
recognized if controlled or liabilities are recognized if incurred. 
Financial and servicing assets are removed from the statement of income
when control has been surrendered and liabilities are removed when
extinguished.  SFAS No. 125 was effective and adopted by NCB on January
1, 1997 and was applied prospectively.  NCB did not experience any
material effect on its financial position from this implementation.

  In February, 1997, SFAS No. 129,"Disclosure of Information about
Capital Structure" was issued. SFAS No. 129 establishes standards for
disclosing information about an entity's capital structure. This statement
continues the previous requirements to disclose certain information about
an entity's capital structure found in APB Opinion 10, Omnibus Opinion -1966 
and FASB Statement No. 47, Disclosure of Long-Term Obligations.  This
statement shall be effective for financial statements for periods ending
after December 15, 1997. NCB does not anticipate any material impact from
the implementation of SFAS No. 129.

  In June, 1997, SFAS No. 130 was issued - "Reporting Comprehensive
Income".  SFAS No. 130 requires that certain financial activity typically
disclosed in members' equity be reported in the statements of income as
an adjustment to net income in determining comprehensive income.  The only
item applicable to the Bank would include gain/loss on securities
available-for-sale.  Items identified as comprehensive income should be
reported also in the  statements of comprehensive income and the statements 
of changes in members' equity, under separate captions.  SFAS No. 130 is 
effective for NCB on January 1, 1998, including the restatement of prior 
periods reported consistent with this pronouncement.  NCB does not 
anticipate any material financial impact from the implementation of SFAS 
No. 130.

  In June, 1997, SFAS No. 131 was issued - "Disclosures about Segments
of an Enterprise and Related Information".  SFAS 131 requires the
reporting of selected segmented information in quarterly and annual
reports.  Information from operating segments is derived from methods used
by NCB's management to allocate resources and measure performance.  NCB
is required to disclose profit and losses, revenues and assets for each
segment identified, including reconciliations of these items to
consolidated totals.  NCB is also required to disclose the basis for
identifying the segments and the type of products and services within each
segment.  SFAS No. 131 is effective for NCB on January 1, 1998, including
the restatement of prior periods reported consistent with this
pronouncement, if practical.  NCB does not anticipate any material impact
from the implementation SFAS No. 131.
NATIONAL COOPERATIVE BANK
   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION 
                    AND RESULTS OF OPERATIONS
 FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 1997 AND 1996

SUMMARY

  NCB's net income for the nine months ended September 30, 1997 was $7.3
million.  This was a 27.9% or $2.8 million decrease compared with $10.1
million for the nine months ended September 30, 1996.  The variance
resulted primarily from a 22.4% decrease in non interest income and an
increase in the provision for loan losses of 115.2%.  For the three month
period, net income increased to $2.0 million from $1.5 million due to an
increase in net interest income and non interest-income. 

  Total assets were $913.9 million at September 30, 1997, representing
growth of $74.6 million or 8.9%  from $839.3 million at December 31, 1996. 
This  growth resulted from increases in loan receivables, net of allowance
for loan losses, of $59.3 million, cash, cash equivalents, restricted cash
and investments of $9.6 million and remaining assets of $5.7 million.

  The annualized return on average total assets was 1.15% for the nine
months of 1997 compared with 1.89% for the same period in 1996.  The
annualized return on average equity for the period ended September 30,
1997 and 1996 was 7.63% and 11.16%, respectively.

NET INTEREST INCOME

  Net interest income for the nine months ended September 30, 1997
increased 6.8% or $1.2 million from the same period in the prior year.  
As shown on Table 2, the increase resulted primarily from higher volume
of loans and leases outstanding. In comparison to the year earlier
quarter, net interest income for the three months ended September 30,1997
increased 9.2% or $561 thousand.  As shown on Table 2A, there were
positive variances of $258 thousand and $302 thousand related to volume
and yield, respectively.

  As shown on Table 1 and 1A, the net yield on interest earning assets
dropped 36 basis points to 3.17% from 3.53% and 19 basis points to 3.37%
from 3.56% for the nine month and three month periods ended September
30,1997.  This is due largely to the repricing in October, 1996 of $36
million of subordinated debt and to the increased volume in 1997 of loans
held for sale.

  For the nine months ended September 30,1997, interest income went up
18.6% or $8.0 million to $51.2 million compared with $43.2 million from
the prior year. The increase in interest income was mostly due to a higher
average balance of the interest earning assets. As shown on Table 1, the 
average rate of the interest earning assets was flat for both nine month
periods ended September 30. As shown on Table 2, interest income for the
nine month ended September 30, 1997 increased $8.1 million due to
increased volume but decreased $142 thousand due to a drop in interest
rates.   
 
  Interest income increased 22.7% or $3.3 million to $18.1 million for
the three months ended September 30, 1997 compared with $14.8 million of
the prior year's quarter.  As shown on Table 2A, interest income increased
$2.4 million and $991 thousand due to increased volume and increasing rate
environment,respectively.

  Interest expense increased $6.8 million to $32.1 million for the nine
months ended September 30, 1997 compared with $25.3 million for the same
period in 1996. For the three month period ended September 30, 1997,
interest expense increased $2.8 million to $11.4 million from $8.6 million 
for the three months ended September 30, 1996. As shown on Table 1 and
Table 1A, the yield on interest bearing liabilities at September 30, 1997
and for the quarter ended September 30, 1997 went up 24 basis points and
77 basis points, respectively. The increase was due to the repricing of
the $53.5 million of subordinated debt and the use of the short term and
long term facilities to fund growth of the loans held for sale. 

NON-INTEREST INCOME

  Non-interest income for the nine months ended September 30, 1997 of
$8.04 million decreased 22.4% or $2.3 million from $10.4 million for the
same period last year.  The majority of the decrease was caused by a
lesser amount of asset sales to the secondary market.  The fees and gains
on sale of blanket mortgages totalled $4.7 million for the nine months
ended September 30,1996 compared with $1.8 million in the same period in
1997.  This decrease was partially offset by an increase of $578.1
thousand in servicing fees and other income due to an increase in the
servicing portfolio.

  For the three month period ended September 30, 1997 non-interest income
went up 10.9% to $2.3 million from $2.1 million at the same period in the
prior year.

NON-INTEREST EXPENSES

  Non-interest expenses for the nine months ended September 30, 1997
slightly increased 1.2% or $204.6 thousand to $16.7 million from $16.5
million for the nine months ended September 30, 1996. Compensation and
benefits, the largest component of non-interest expenses, increased 12.9%
or $1.0 million due to a higher employee base at the start of 1997 and
also to higher bonus accruals for the current period compared with 1996.
Contractual services and other expenses decreased 15.9% or $827.5 thousand 
due to management's continued emphasis on prudent controls of non-interest 
expenses. Excluding the voluntary contribution to NCB Development 
Corporation, non-interest expense as a percentage of average assets, 
decreased  to 1.9% for the nine months ended September 30, 1997 from 2.3% 
for the nine months ended September 30,1996.

  For the three months ended September 30, 1997, non-interest expenses
decreased $121.1 thousand or 2% to $6.1 million from $6.2 million for the
same period in 1996.  Compensation and employee benefits increased 23.6%
or $642.1 from $2.7 million for the three month period in the prior year. 
The increase was primarily due to the timing of new hires and greater
commissions paid to loan officers because of higher loan production.  This
increase was offset by decreases in contractual services, occupancy and
equipment and other expenses in the total amount of $763.2 thousand. 
Payment of FDIC insurance premium during the third quarter of 1996 
accounted for 67.3% of this decrease.
Table 1
Rate Related Assets and Liabilities
(dollars in thousands)
                             Nine Months Ended September 30,
ASSETS                             1997                      1996             
                       Average    Income/  Yields/ Average  Income/  Yields/
                       Balance    Expense  Rates   Balance  Expense  Rates

Interest earning assets
 [S]                    [C]       [C]      [C]    [C]       [C]      [C]
 Real estate loans      $369,237  $24,198  8.74%  $287,824  $19,733  9.14%
 Commercial loans                   
   and leases            368,887   23,764  8.59%   327,740   20,552  8.36%

 Total loans and
  leases                 738,124   47,962  8.66%   615,564   40,285  8.73%

 Investment securities
  and cash equivalents    63,291    3,228  6.80%    59,857    2,871  6.40%

 Total interest earning
  assets                 801,415   51,190  8.52%   675,421   43,156  8.52%

Allowance for loan 
  losses                 (16,492)                  (14,863)

Non-interest earning assets
 Cash                      5,089                     3,541
 Other assets             59,133                    46,077

 Total non-interest         
  earning assets          64,222                    49,618

 Total assets           $849,145                  $710,176

LIABILITIES AND MEMBERS' EQUITY

Interest bearing liabilities
 Subordinated debt      $182,542    7,797  5.70%  $182,970    7,084  5.16%
 Notes payable           426,120   21,345  6.68%   303,255   15,178  6.67%
 Deposits                 83,892    2,971  4.72%    81,606    3,030  4.95%
 Total interest bearing
    liabilities          692,554   32,113  6.18%   567,831   25,292  5.94%

Other liabilities         35,556                    21,310
Members' equity          121,035                   121,035
 Total liabilities and
    members' equity     $849,145                  $710,176

Net interest earning
 assets                 $108,861                  $107,590
Net interest revenues                                      
 and spread                       $19,007  2.33%            $17,864  2.58%
Net yield on 
 interest earning assets                   3.17%                     3.53%
Table 1A
Rate Related Assets and Liabilities
(dollars in thousands)
                              Three Months Ended September 30,
ASSETS                               1997                       1996           
                          Average   Income/  Yields/ Average   Income/ Yields/
                          Balance   Expense  Rates   Balance   Expense Rates

Interest earning assets
 Real estate loans        $357,963  $ 9,043  10.11%  $302,579  $ 6,968  9.21%
 Commercial loans
  and leases               369,832    8,030   8.69%   334,263    6,795  8.13%

 Total loans and
  leases                   727,795   17,073   9.38%   636,842   13,763  8.64%

 Investment securities
  and cash equivalents      64,029    1,021   6.38%    50,058      988  7.89%

 Total interest earning
  assets                   791,824   18,094   9.14%   686,900   14,751  8.59%

Allowance for loan 
  losses                   (17,107)                   (15,037)

Non-interest earning assets
 Cash                        6,585                      4,382
 Other assets               62,334                     51,567
 Total non-interest 
  earning assets            68,919                     55,949

 Total assets             $843,636                   $727,812

LIABILITIES AND MEMBERS' EQUITY

Interest bearing liabilities
 Subordinated debt        $182,542    2,630  5.76%  $182,934    2,394  5.23%
 Notes payable             415,187    7,843  7.56%   318,134    5,257  6.61%
 Deposits                   84,501      954  4.52%    81,804      994  4.86%

 Total interest bearing
  liabilities              682,230   11,427  6.70%   582,872    8,645  5.93%

Other liabilities           33,787                    21,806
Members' equity            127,619                   123,134
 Total liabilities and
  members' equity         $843,636                  $727,812

Net interest earning 
 assets                   $109,594                  $104,028
Net interest revenues                                     
 and spread                         $ 6,667  2.44%            $ 6,106  2.66%
Net yield on 
 interest earning assets                     3.37%                     3.56%

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

For the nine months ended September 30, 1997 compared to 1996
  
                          Increase (decrease) due to changes in:

                                 Average   Average
                                 Volume*    Yield         Net**  

Interest Income

Cash equivalents and 
 investment securities         $  170      $   187     $  357
Commercial loans and leases     2,638          574      3,212
Real estate loans               5,369         (903)     4,466
 
 Total interest income          8,177         (142)     8,035

Interest Expense

Deposits                           83         (142)       (59)
Notes payable                   6,977         (810)     6,167
Subordinated debt                 (17)         729        712

 Total interest expense         7,043         (223)     6,820

Net interest income            $1,134      $    81     $1,215

* 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
Change in Net Interest Income
(dollars in thousands)

For the three months ended September 30, 1997 compared to 1996 
                             
                             Increase (decrease) due to changes
                             in:

                             Average    Average
                             Volume*     Yield     Net**
Interest Income

Cash equivalents and 
 investment securities       $  244     $(211)    $   33
Commercial loans and leases     753       483      1,236  
Real estate loans             1,356       719      2,075
 
 Total interest income        2,353       991      3,344

Interest Expense

Deposits                         32       (71)       (39)
Notes payable                 2,068       518      2,586
Subordinated debt                (5)      242        237

 Total interest expense       2,095       689      2,784

Net interest income          $  258     $ 302     $  560

* 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 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 federal income tax provision for the nine
months ended September 30, 1997  was $1.02 million compared with the
prior year's provision of $608 thousand.

CASH, CASH EQUIVALENTS AND INVESTMENT SECURITIES

 Cash, cash equivalents and investment securities at September 30,
1997 increased  $11.0 million or 21.9% from $50.4 million at year-end 1996.
As a percentage of earning assets, cash, cash equivalents
and investment securities decreased to 7.0%  at September 30, 1997 
from 7.3% at December 31, 1996.  

ALLOWANCE FOR LOAN LOSSES

 The allowance for loan losses at September 30, 1997 increased 9.9%
to $17.0 million from $15.5 million at December 31, 1996.  The
allowance during the period was impacted by loans charged off, net
of recoveries of loans previously charged off, amounting to $502.7
thousand and the loan loss provision of $2.04 million. Net
chargeoffs as a percentage of average loans and leases outstanding
are .07% for both the nine months ended September 30,1997 and 1996
compared with .2% for the year ended December 31, 1996. For the nine
months ended September 30,1997, NCB's provision for loan losses as
a percentage of average loans and leases outstanding at September
30, 1997 increased to .4% compared with .1% for the same period in
1996.  The increase in the provision is the result of two factors:
1) growth in the real estate and commercial portfolio from the prior
year, and 2) management's assessment that additional provision
should be recorded due to the current economic environment. 

 The loan loss allowance as a percentage of average loans and
leases increased to 2.3% at September 30, 1997 from 2.1% at December
31, 1996.  Overall, credit quality remained strong and management
considers the current allowance to be adequate to absorb known and
inherent risks in the loan portfolio.

 As shown in Table 3,  total nonperforming assets (restructured and
non-accruing loans and real estate owned) increased 42.4% from $8.1
million at December 31, 1996 to $11.6 million at September 30, 1997. 
The increase was the result of a foreclosure on a $5.4 million loan to
a food wholesaler in the month of September, 1997. Nonperforming 
assets as a percentage of loans and leases outstanding plus real estate 
owned were 1.4% at September 30, 1997 compared with 1.1% at year-end 
1996.  The allowance for loan losses as a percentage of nonperforming 
assets decreased to 147.4% at September 30,1997 from 190.8% at 
December 31, 1996.

INTEREST BEARING LIABILITIES

Interest bearing liabilities
(dollars in thousands)
                    9/30/97         12/31/96      % Change
Deposits           $ 82,043        $ 88,620          (7.4%)
Short term debt     261,363         224,500          16.4%
Long term debt      233,660         202,137          15.6%
Subordinated debt   182,803         182,853           0.0%

 Total             $756,869        $698,110           8.4%

    Interest bearing liabilities increased by 8.4% to $756.9 million
at September 30, 1997 from $698.1 million at December 31, 1996.

    For the first nine months of 1997, deposits at NCB Saving Bank,
FSB dropped 7.4% to $82.0 million. The decrease was attributable to
scheduled maturities of certificate of deposits. Average maturity
of the certificates of deposits is 13 months. 

    At September 30,1997, total short term and long term borrowings
(including the subordinated debt) increased 10.7% from year-end
1996.  Proceeds from the borrowings were used to fund asset growth,
largely the loans available for sale. NCB had approximately $258.4
million outstanding on its short term facilities at the end of the
quarter.  Included in the short term borrowings are $31.4 million
from an affiliate and cooperative entities and $30.0 million of
commercial paper.  Long term debt increased 15.6% from year-end 1996
due to the issuance of $40.0 million of  medium-term notes and $10.0
million under the long term facilities; such increase  was partially
offset by a paydown of $19.0 million in long-term notes. Unused
capacities under the short term and long term facilities of
approximately $153.0 million and $90.0 million, respectively, are
sufficient to meet anticipated commitments during 1997.
TABLE 3
Nonperforming assets
(dollars in thousands)

                    Sept. 30, June 30,  March 31,  Dec. 31,   Sept. 30, 
                      1997      1997      1997       1996       1996    

Real estate owned   $ 5,545   $   208   $  377     $  377     $  518

Non-accruing          3,801     5,577    2,731      2,601      1,282  

Restructured          2,218     5,028    5,098      5,147      4,115

Total               $11,564   $10,813   $8,206     $8,125     $5,915
Part II Other Information

Item 2. Changes in Securities

 (c) During the period covered by this report, NCB sold one share
of its Class C stock without registration under the Securities Act
of 1933 (the "1933 Act") in reliance on the exemption from
registration provided by section 4 (2) of the 1933 Act.  The stock
was sold for $100 in cash without any underwriting discounts or
commissions to a cooperative organization eligible to obtain loans
from NCB.  The stock was not offered to the general public; the
purchaser had access to essentially the same information that would
be contained in a registration statement and had the capability to
evaluate the merits of such an investment.

                            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 thereunto 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
Exhibit No. 27
                     Financial Data Schedule
                                
            Appendix C to Item 601  of Regulation S-K
  Bank Holding Companies and Savings and Loan Holding Companies
                   Article 9 of Regulation S-X

   Item Number         Item Description                     Amount

   9-03 (1)            Cash                                    1,020,711
   9-03 (2)            Int-bearing deposits                   19,638,920
   9-03 (3)            Fed-Funds-Sold                          5,724,820
   9-03 (4)            Trading-Assets                                  0
   9-03 (6)            Investments-Held-For-Sale              35,019,259
   9-03 (6)            Investments-Carrying                            0
   9-03 (7)            Loans                                 810,980,547
   9-03 (7) (2)        Allowance                              17,045,778
   9-03 (11)           Total-Assets                          913,912,032
   9-03 (12)           Deposits                               82,042,601
   9-03 (13)           Short-Term                            261,362,804
   9-03 (15)           Liabilities-Other                      24,996,435
   9-03 (16)           Long-Term                             416,462,705
   9-03 (21)           Common                                105,713,533
   9-03 (22)           Other Stock Equity                         94,015
   9-03 (23)           Total-Liability-And-Equity            913,912,032
   9-04 (1)            Interest-Loan                          47,961,897
   9-04 (2)            Interest-Invest                         3,227,878
   9-04 (5)            Interest-Total                         51,189,775
   9-04 (6)            Interest-Deposit                        2,971,432
   9-04 (9)            Total Interest-Expense                 32,113,236
   9-04 (10)           Interest-Income-Net                    19,076,539
   9-04 (11)           Loan-Losses                             2,004,000
   9-04 (13) (h)       Securities-Gains/Loss                           0
   9-04 (14)           Expense-Other                          16,733,232
   9-04 (15)           Income-Pretax                           8,337,448
   9-04 (20)           Net-Income                              7,315,172
   9-04 (21)           EPS - Primary                                9.23
   9-04 (21)           EPS - Diluted                                9.23
   I.B.5               Yield-Actual Int Earning                     3.17
   III.C.1 (a)         Loans-Non-accrual                       3,801,463
   III.C.1 (b)         Loans-Past 90 days                      1,164,683
   III.C.1.(c)         Loans-Troubled                          2,218,862
   III.C.2             Loans-Potential Problem                         0
   IV.A.1              Allowance-Beginning                    15,504,510
   IV.A.2              Charge-Offs                               677,168
   IV.A.3              Recoveries                                174,436
   IV.A.4              Allowance-End                          17,045,778
   IV.B.1              Allowance-Domestic                              0
   IV.B.2              Allowance-Foreign                               0
   IV.B.3              Allowance-Unallocated                  17,045,778