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                                 Form 10-Q
                     SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C. 20549
                                                                             

           
             
               
                 
                   
                     
                       
                         
                           
                                
  [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
      OF THE SECURITIES EXCHANGE ACT OF 1934
      For the quarterly period ended March 31, 1998
                     
                                     OR
                          
  [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
      OF THE SECURITIES EXCHANGE ACT OF 1934
      For the transition period from         to
                                                                             
                      Commission file number:  0-13203
                        
                              LNB Bancorp, Inc.
      (Exact name of the registrant as specified on its charter)
                      
                Ohio                                34-1406303
      (State or other jurisdiction of             (I.R.S. Employer 
       incorporation or organization)              Identification No.)
                          
         457 Broadway, Lorain, Ohio                   44052 - 1769
         (Address of principal executive offices)      (Zip Code)
                            
                            (440) 244 - 6000
          Registrant's telephone number, including area code
                            
                              Not Applicable
         (Former name, former address and former fiscal year,
                     if changed since last report)
                            
  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,
  and (2) has been subject to such 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 April 15, 1998: 4,122,475 shares
  Class of Common Stock:  $1.00 par value
  
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                             LNB Bancorp, Inc.
                      Quarterly Report on From 10-Q
                       Quarter Ended March 31, 1998
                            
   Part I - Financial Information
                         
      Item 1 - Financial Statements
                          
        Interim financial information required by Regulation 210.10-01 of
        Regulation S-X is included in this Form 10-Q as referenced below:
                           
                                                                         
                                                                 Page
                                                               Number(s)
                            
                            
          Condensed Consolidated Balance Sheets                      3
                                       
          Condensed Consolidated Statements of Income                5
                          
          Condensed Consolidated Statements
            of Cash Flows                                            7
                        
          Notes to the Condensed Consolidated Financial              9
            Statements
                            
        Item 2 - Management's Discussion and Analysis
                 of Financial Condition and Results of
                 Operations                                          14
        
        Item 3 - Quantitative and Qualitative Disclosure             19
                 about Market Risk
                            
                            
     Part II - Other Information
                            
        Item 1 - Legal Proceedings                                   20
                            
        Item 2 - Changes in Securities                               20
                            
        Item 3 - Defaults upon Senior Securities                     20
                            
        Item 4 - Submission of matters to a Vote of
                 Security Holders                                    20
                            
        Item 5 - Other Information                                   21
                            
        Item 6 - Exhibits and Reports on Form 8-K                    21
                            
        Signatures                                                   21
                            
        Exhibit Index                                                22
                            
                            
                            
                        
                        
    
  
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    FORM 10-Q                 LNB BANCORP, INC.
                            
    PART I - FINANCIAL INFORMATION
    ITEM 1 - FINANCIAL STATEMENTS
                                             MARCH 31,      DECEMBER 31,
    CONDENSED CONSOLIDATED BALANCE SHEETS       1998            1997
                                           -------------  --------------
                                            (Unaudited)    (See Note 1)
    ASSETS:
    Cash and due from banks                $ 20,117,000    $ 24,273,000
    Federal funds sold and other interest
     bearing instruments                      2,882,000         134,000
    Securities:
     Securities available for sale           30,662,000      19,336,000
     Investment securities held to maturity  87,862,000      96,038,000
                                          --------------  --------------
    Total securities                        118,524,000     115,374,000
    (Market value $119,413,000 and        --------------  --------------
      $116,197,000, respectively)
                    
    Loans:
      Portfolio loans                       317,665,000     319,666,000
      Loans available for sale               12,047,000      11,365,000
                                          --------------  --------------
    Total loans                             329,712,000     331,031,000
    Reserve for possible loan losses         (4,360,000)     (4,168,000)
                                          --------------  --------------
    Net loans                               325,352,000     326,863,000
                                          --------------  --------------
    Bank premises and equipment, net         11,133,000      11,321,000
    Intangible assets                         5,088,000       5,114,000
    Accrued interest receivable               3,315,000       3,155,000
    Other assets                              3,517,000       3,983,000
                                          --------------  --------------
    TOTAL ASSETS                           $489,928,000    $490,217,000
                                          ==============  ==============
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
    
    
    
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      LIABILITIES AND STOCKHOLDERS' EQUITY:
      Deposits:
        Demand and other noninterest-
          bearing deposits                   $ 66,346,000    $ 68,565,000
        Savings and passbook accounts         173,537,000     172,936,000
        Time deposits                         172,689,000     169,154,000
                                            --------------  --------------
      Total deposits                          412,572,000     410,655,000
                                            --------------  --------------
      Securities sold under repurchase agreements
        and other short-term borrowings        25,102,000      28,950,000
      Federal Home Loan Bank advances           2,045,000       2,045,000
      Accrued interest payable                  1,453,000       1,379,000
      Accrued taxes, expenses, and
        other liabilities                       2,969,000       2,203,000
                                            --------------  --------------
      Total liabilities                       444,141,000     445,232,000
                          
      Shareholders' equity:
      Common stock $1.00 par: Shares authorized
       5,000,000 Shares issued 4,222,475 and
       4,222,375, respectively and Shares outstanding
       4,122,475 and 4,124,379 respectively     4,222,000       4,222,000
      Additional capital                       22,600,000      22,599,000
      Retained earnings                        21,791,000      20,937,000
      Accumulated other comprehensive
       income                                      69,000          70,000
      Treasury stock at cost, 100,000 and
       97,996 shares, respectively             (2,900,000)     (2,843,000)
                                            --------------  --------------
      Total shareholders' equity               45,787,000      44,985,000
                                            --------------  --------------
      TOTAL LIABILITIES AND SHAREHOLDERS'
      EQUITY                                 $489,928,000    $490,217,000
                                            ==============  ==============
                   
      Note 1:  The consolidated balance sheet at December 31, 1997 has 
               been taken from the audited Financial Statements and 
               condensed.
                           
      See notes to unaudited condensed consolidated financial statements.
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
      
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      FORM 10-Q            LNB BANCORP, INC.                 Unaudited
                       
      PART I - FINANCIAL INFORMATION
      ITEM 1 - FINANCIAL STATEMENTS
                                                  THREE MONTHS ENDED
      CONDENSED CONSOLIDATED STATEMENTS                 MARCH 31,
      OF INCOME                             ------------------------------
                                                  1998            1997
      INTEREST INCOME:                      ------------------------------
      Interest and fees on loans:
       Taxable                                $ 7,284,000     $ 6,642,000
       Tax-exempt                                  11,000          13,000
      Interest and dividends on securities:
       U.S. Treasury securities                 1,720,000       1,556,000
       U.S. Government agencies and
         corporations
       States and political subdivisions
       Other debt and equity securities            51,000          35,000
      Interest on Federal funds sold and other
       interest bearing instruments                60,000          10,000
                                             -------------   -------------
      TOTAL INTEREST INCOME                     9,126,000       8,256,000
                                             -------------   -------------
      INTEREST EXPENSE:
      Interest on deposits:
       Time certificates of $100,000 and over     557,000         558,000
       Other deposits                           2,582,000       2,172,000
      Interest on securities sold under 
       repurchase agreements and other short-
       term borrowings                            264,000         252,000
      Interest on Federal Home Loan Bank advances  32,000          17,000  
                                             -------------   -------------
      TOTAL INTEREST EXPENSE                    3,435,000       2,999,000
                                             -------------   -------------
      NET INTEREST INCOME                       5,691,000       5,257,000
       Provision for possible loan losses         187,000         125,000
      NET INTEREST INCOME AFTER PROVISION    -------------   -------------
       FOR POSSIBLE LOAN LOSSES                 5,504,000       5,132,000
                                             -------------   -------------
      OTHER INCOME:
      Trust and Investment Management             437,000         278,000
       division income
      Service charges on deposit accounts         639,000         545,000
      Other service charges, exchanges and fees   537,000         460,000
      Other operating income                        9,000          10,000
                                             -------------   -------------
      TOTAL OTHER INCOME                        1,622,000       1,293,000
      STATEMENT CONTINUED ON NEXT PAGE
                        
                            
                            
                            
                            
                            
                            
                            
                            
                            
              
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      STATEMENT CONTINUED FROM PREVIOUS PAGE
                       
      OTHER EXPENSES:
      Salaries and employee benefits            2,155,000       2,008,000
      Net occupancy expense of premises           352,000         329,000
      Furniture and equipment expenses            578,000         561,000
      Amortization of intangible assets           112,000             -0-
      Supplies and postage                        255,000         247,000
      FDIC deposit insurance premium               13,000          11,000
      Ohio Franchise Tax                          135,000         129,000
      Other operating expenses                    982,000         828,000
                                             -------------   -------------
      TOTAL OTHER EXPENSES                      4,582,000       4,113,000
                                             -------------   -------------
      INCOME BEFORE FEDERAL INCOME TAXES        2,544,000       2,312,000
      FEDERAL INCOME TAXES 
       Current                                    866,000         787,000
       Deferred                                       -0-             -0-
                                             -------------   -------------
      TOTAL FEDERAL INCOME TAXES                  866,000         787,000
                                             -------------   ------------- 
        
      NET INCOME                               $1,678,000     $ 1,525,000
                                             =============   =============
                     
                            
                            
                    
      BASIC EARNINGS PER SHARE                      $  .41       $  .36
                                                    =======      =======
      DILUTED EARNINGS PER SHARE                    $  .41       $  .36
                                                    =======      =======
                                 
      See notes to unaudited condensed consolidated financial statements.
                           
                            
              
              
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
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FORM 10-Q               LNB BANCORP, INC.                    Unaudited
                  
    PART I - FINANCIAL INFORMATION
    ITEM 1 - FINANCIAL STATEMENTS
                                                THREE MONTHS ENDED
    CONDENSED CONSOLIDATED STATEMENTS                 MARCH 31,
    OF CASH FLOWS                           ----------------------------
                                                1998            1997
    CASH FLOWS FROM OPERATING ACTIVITIES:   ----------------------------
     Interest received                       $ 8,972,000    $ 7,835,000
     Other income received                     1,565,000      1,294,000
     Interest paid                            (3,373,000)    (2,855,000)
     Cash paid for salaries and
      employee benefits                       (2,037,000)    (1,856,000)
     Net occupancy expense of premises paid     (259,000)      (232,000)
     Furniture and equipment expenses paid      (192,000)      (207,000)
     Cash paid for supplies and postage         (255,000)      (247,000)
     Cash paid for other operating expenses     (795,000)      (908,000)
     Federal income taxes paid                   (25,000)           -0- 
                                            -------------  -------------
    NET CASH PROVIDED BY OPERATING
     ACTIVITIES                                3,601,000      2,824,000
                                            -------------  -------------
    CASH FLOWS FROM INVESTING ACTIVITIES:
     Proceeds from maturities of investment
      securities                               8,191,000      5,806,000
     Proceeds from maturities of securities
      available for sale                       4,175,000            -0-
     Proceeds from sales of securities
      available for sale                             -0-        (33,000)
     Purchases of investment securities              -0-     (6,071,000)
     Purchase of securities available
      for sale                               (15,497,000)           -0- 
     Net decrease in credit card loans           353,000        568,000
     Net (increase) decrease in 
      long-term loans                            904,000     (4,518,000)
     Purchases of bank premises and equipment   (239,000)      (620,000)
     Proceeds from sales of bank premises,
      and equipment                               (2,000)         1,000
                                            -------------  -------------
    NET CASH USED IN INVESTING ACTIVITIES     (2,115,000)   (4,867,000)
                                            -------------  -------------
    STATEMENT CONTINUED ON NEXT PAGE
                 
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
                            
              
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      STATEMENT CONTINUED FROM PREVIOUS PAGE
                           
      CASH FLOWS FROM FINANCING ACTIVITIES:
       Net (decrease) in demand and other
        on interest-bearing deposits            (2,219,000)    (2,859,000)
       Net increase in savings and
        passbook deposits                          601,000      1,028,000
       Net increase in time deposit              3,535,000      6,455,000 
       Net increase (decrease) in securities sold
        under repurchase agreements and other
        short-term borrowings                   (3,848,000)       960,000
       Proceeds from Federal Home Loan 
        Bank advances                                  -0-            -0-
       Proceeds from line of credit                    -0-            -0-
       Cash paid on line of credit                     -0-            -0-
       Purchase of Treasury Stock                  (57,000)           -0-
       Proceeds from exercise of stock options       1,000            -0-
       Dividends paid                             (907,000)      (662,000)
                                              -------------  -------------
      NET CASH PROVIDED (USED) BY FINANCING
       ACTIVITIES                               (2,894,000)     4,922,000 
                                              -------------  -------------
      NET INCREASE (DECREASE) IN CASH AND
       CASH EQUIVALENTS                         (1,408,000)     2,879,000 
           
      CASH AND CASH EQUIVALENTS AT BEGINNING
       OF YEAR                                  24,407,000     18,993,000
                                              -------------  -------------
      CASH AND CASH EQUIVALENTS AT END OF
       QUARTER                                 $22,999,000    $21,872,000
                                              =============  =============
      
      RECONCILIATION OF NET INCOME TO
      NET CASH PROVIDED BY OPERATING ACTIVITIES:
      
      NET INCOME                                $1,678,000     $1,525,000
      Adjustments to reconcile net income to net cash
       provided by operating activities:
         Depreciation and amortization             479,000        451,000 
         Amortization of deferred loan fees 
          and costs, net                            76,000         85,000
         Provision for possible loan losses        187,000        125,000
         Amortization of Intangible Assets         112,000            -0-
         (Increase)in accrued interest receivable (160,000)      (411,000)
         (Increase) decrease in other assets       277,000       (104,000)
         Increase in accrued interest payable       62,000        144,000
         Increase (decrease) in accrued taxes,
          expenses and other liabilities           861,000        770,000   
         Others, net                                 9,000        239,000
                                            --------------  --------------
      NET CASH PROVIDED BY OPERATING ACTIVITIES $3,601,000     $2,824,000
                                            ==============  ==============
                    
      See notes to unaudited condensed consolidated financial statements.
                         
                            
                            
  

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FORM 10-Q            LNB Bancorp, Inc.                  Unaudited
                                                                           
PART I - FINANCIAL INFORMATION
ITEM 1 - FINANCIAL STATEMENTS
                        
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                         
1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
                      
INTRODUCTION
                             
The following areas of discussion pertain to the condensed consolidated
financial statements of LNB Bancorp, Inc. (the Corporation) at March 31,
1998, compared to December 31, 1997 and the results of operations for the
three months ended March 31, 1998 compared to the same period in 1997.  It
is the intent of this discussion to provide the reader with an
understanding of the unaudited condensed consolidated financial statements
and supporting schedules, and should be read in conjunction with those
condensed consolidated financial statements and schedules.
                         
LNB Bancorp, Inc. is not aware of any trends, events, or uncertainties
that might have a material effect on the soundness of operations;
neither is LNB Bancorp, Inc. aware of any proposed recommendations by
regulatory authorities which would have a similar effect if implemented.
                    
BASIS OF PRESENTATION
                        
The unaudited condensed consolidated balance sheet as of March 31, 1998,
the unaudited condensed consolidated statements of income and the
unaudited condensed consolidated statement of cash flows for the three
months ended March 31, 1998 and 1997 are prepared in accordance with
generally accepted accounting principles for interim financial
information.  The above mentioned statements reflect all normal and  
recurring adjustments which are, in the opinion of management, necessary
for a fair presentation of the financial position and the results of
operation for the interim periods presented.
                        
Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted
accounting principles have been condensed or omitted.  It is suggested
that these condensed consolidated financial statements be read in
conjunction with the financial statements and notes thereto included in
the Corporation's December 31, 1997 Annual Report to Shareholders.
                 
The results of operations for the period ended March 31, 1998 are not
necessarily indicative of the operating results for the full year.
                     
RESERVE FOR POSSIBLE LOAN LOSSES
                     
Because some loans may not be repaid in full, a reserve for possible loan
losses is recorded.  This reserve is increased by provisions charged to
earnings and is reduced by loan charge-offs, net of recoveries. 
Estimating the risk of loss on any loan is necessarily subjective.
Accordingly, the reserve is maintained by Management at a level considered
adequate to cover possible loan losses that are currently anticipated
based on Management's evaluation of several key factors including
information about specific borrower situations, their financial position
and collateral values, current economic conditions, changes in the mix and
levels of the various types of loans, past charge-off experience and other

<PAGE>10
pertinent information.  The reserve for possible loan losses is based on
estimates using currently available information, and ultimate losses may
vary from current estimates due to changes in circumstances.  These
estimates are reviewed periodically and, as adjustments become necessary,
they are reported in earnings in the periods in which they become known. 
While Management may periodically allocate portions of the reserve for
specific problem situations, the entire reserve is available for any
charge-offs that may occur.  Charge-offs are made against the reserve for
possible loan losses when Management concludes that it is probable that
all or a portion of a loan is uncollectible.  After a loan is charged-off,
collection efforts continue and future recoveries may occur.
                      
Charge-offs are made against the reserve for possible loan losses when 
Management concludes that it is probable that all or a portion of a loan
is uncollectible.  After a loan is charged-off, collection efforts
continue and future recoveries may occur.
                        
Under Generally Accepted Accounting Principles, a loan is considered
impaired, based on current information and events, if it is probable that
the Bank will be unable to collect the scheduled payments of principal or
interest when due according to the contractual terms of the loan
agreement.  The measurement of impaired loans is generally based on the
present value of the expected future cash flows discounted at the loans
initial effective interest rate, except that all collateral-dependent
loans are measured for impairment based on the fair value of the
collateral.  If the loan valuation is less than the recorded value of the
loan, an impairment reserve must be established for the difference.  The
impairment reserve is established by either an allocation of the reserve
for possible loan losses or by a provision for possible loan losses,
depending upon the adequacy of the reserve for possible loan losses.  
                       
RECLASSIFICATIONS
                           
Certain 1997 amounts have been reclassified to conform to 1998     
presentation.
                        
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                              
                          
                          
                          
      
      
      
      
      

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2.  EARNINGS PER SHARE
        
The Corporation adopted SFAS No. 128 "Earnings Per Share" on January 1,
1997.  This Statement specifies the computation, presentation and      
disclosure requirements for earnings per share, for entities with publicly
held common stock or potential common stock.  The per share data has been
adjusted to reflect the two percent stock dividend in 1997.
                    
In accordance with SFAS No. 128, Earnings per share is calculated as
follows:
                                  For the Quarter ended March 31, 1998
                                   Income         Shares      Per-Share
                                  (Numerator)    (Denominator)  Amount
                         
    Net Income                      $1,678,000
                      
    Basic EPS
    Income available to
     common stockholders            $1,678,000        4,123,820      $ .41
                                                                     =====
    Effect of Dilutive Securities                              
    Incentive Stock Options                -0-           10,148
                                    ----------        ---------
    Dilutive EPS
    Income available to common
     stockholders + assumed
     conversions                    $1,678,000        4,133,968      $ .41    
                                    ==========        =========      =====
                      
                                    For the Quarter ended March 31, 1997
                                     Income         Shares       Per-Share
                                    (Numerator)     (Denominator)  Amount
                           
    Net Income                      $1,525,000
                      
    Basic EPS
    Income available to
     common stockholders            $1,525,000        4,221,304      $ .36
                                                                     =====
    Effect of Dilutive Securities                              
    Incentive Stock Options                -0-           10,918
                                    ----------        ---------
    Dilutive EPS
    Income available to common
     stockholders + assumed
     conversions                    $1,525,000        4,232,222      $ .36 
                                    ==========        =========      =====
                       
              
              
              
              
            
      
      
      
      
      
      
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3. COMPREHENSIVE INCOME
                         
The Corporation adopted SFAS No. 130 "Reporting Comprehensive Income" on
January 1, 1998.  This statement requires companies to report all items 
that are recognized as components of comprehensive income under accounting 
standards.  As required, the Corporation displays the accumulated balance
of other comprehensive income separately from retained earnings and
additional paid-in capital.  The Corporation's comprehensive income for
the quarters ended March 31, 1998 and 1997 are as follows:

                                 For the quarters ended March 31,
                                      1998                1997
                                 --------------------------------
    Net income                     $1,678,000          $1,525,000
    Other comprehensive income:
     Unrealized (loss) on securities
     available for sale, net of tax
     of $-0- and $17,000               (1,000)            (33,000)
                                   -----------         ------------
    Comprehensive Income           $1,677,000          $1,492,000
  
4. DISCLOSURES ABOUT SEGMENTS OF AN ENTERPRISE AND RELATED INFORMATION
      
The Corporation adopted SFAS No. 131 "Disclosures about segments of an
Enterprise and Related Information" on January 1, 1998.  This statement
provides accounting and reporting standards for the way public business
are to report information about operating segments in annual financial
statements and requires those enterprises report selected information
about operating segments in interim financial reports issued to
shareholders.  It also establishes standards for related disclosures about
products and services, geographic areas, and major customers. Corporate
management has determined that adoption of SFAS No. 131 will have no
increase in reporting and disclosure requirements. 
          
5. PENSION AND OTHER POSTRETIREMENT BENEFITS
                        
The Corporation adopted SFAS No. 132 "Employers' Disclosures about
Pensions and Other Postretirement Benefits" on January 1, 1998.  This
statement revises employers' disclosures about pension and other
postretirement benefit plans.  It does not change the measurement or
recognition of those plans.  It standardizes the disclosure requirements
for pensions and other postretirement benefits to the extent practicable,
requires additional information on changes in the benefit obligations and
fair values of plan assets that will facilitate financial analysis, and
eliminates certain disclosures that are no longer as useful as the were
when FASB Statements No. 87, No. 88 and No. 106 were issued.  Corporate
Management has determined that the adoption of SFAS No. 132 will change
year end reporting requirements for pension and postretirement benefits.
 
  
  
  
  
  
  
  
  
  
  

<PAGE>13
6. DIVIDEND REINVESTMENT AND CASH STOCK PURCHASE PLAN
            
The Board of Directors adopted a dividend reinvestment and cash stock
purchase plan on November 18, 1997.  Under the plan, the first dividend
reinvestment and cash stock purchase date was April 1, 1998.  The plan
allows shareholders to elect to use their quarterly cash dividends to
purchase shares of LNB Bancorp, Inc. common stock.  Additionally, cash can
be contributed directly to the plan for the purchase of shares of common
stock with a quarterly limit of $5,000.
        
The dividend reinvestment plan authorized the sale of 150,000 shares of
the Corporation's authorized but previously unissued common shares to
shareholders who choose to invest all or a portion of their cash dividends
plus additional cash payments.  No shares were issued by the Corporation
pursuant to the plan in the first quarter of 1998.  In the first quarter
of 1998, stock was purchased in the open market at the then current market
price.                
                          
                          
                          
                     
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                         
                      
              
              
              
              
              
              
              
              
              
              
              
              
            
    
    
    
    
    
    
    
    
    

<PAGE>14
                      
PART I - FINANCIAL INFORMATION
ITEM 2 - MANAGEMENT'S DISCUSSION & ANALYSIS OF FINANCIAL
         CONDITION & RESULTS OF OPERATION
                   
FINANCIAL CONDITION
                           
Total assets of the Corporation decreased $289,000 during the first   
quarter, to $489,928,000.  Federal funds sold and other interest-bearing
investments increased by $2,748,000 during the first quarter of 1998.
                 
The total securities portfolio increased $3,150,000 ending the first
quarter at $118,524,000.  At March 31, 1998 unrealized gains (losses)in
the held to maturity securities portfolio were approximately $914,000 and
(25,000), respectively.  The decrease in the market value of the security
portfolio is due to market interest rate fluctuations and not due to the
deterioration of the credit worthiness of debt issuers.
                        
The level of nonperforming assets increased $563,000 during the first
quarter 1998.  The first quarter increase is the result of a net increase
in nonaccrual loans plus an decrease in other real estate owned in the
amount of $90,000.  The increase in nonaccrual loans is due to decreases
in nonaccrual principal balances of $12,000 which have been paid off,
charged-off or brought current and increases in nonaccrual principal
balances of $515,000.  The increase in nonaccrual loans in the first
quarter of 1998 was due primarily to six commercial loan customer and
one mortgage loan customer.  The level of nonperforming assets remains
at relatively low levels and Corporate Management believes nonperforming
assets are well collateralized.  The table below presents the level of
nonperforming assets at the end of the last four calendar quarters.
                          
                           
        Amounts in thousands       03/31/98  12/31/97  09/30/97  06/30/97
                                   --------  --------  --------  --------
        Nonperforming Assets:
          Nonaccrual                 $1,078    $  425    $  882    $  376
          Restructured                    0         0         0         0
          Other Real Estate Owned         0        90         0         0
                                     ------    ------    ------    ------
        Total Nonperforming Assets   $1,078    $  515    $  882    $  376
                                     ======    ======    ======    ======
        Reserve for possible
          loan losses to
          nonperforming assets        404.4%    809.3%    488.1%  1,127.1%
                                     ======    ======    ======    ======
        Accruing loans past due
          90 days                    $  645    $  461    $  919    $  271
                                     ======    ======    ======    ======
                         
Net loans decreased $1,511,000 during the first quarter to $325,352,000 at 
March 31, 1998. This decrease was a result of a softening in housing       
market plus increased competition for mortgage loans as well as a
reduction in consumer loans due to low seasonal demand for automobile 
loans during the winter months.  The reserve for possible loan losses
ended the quarter at $4,360,000 supported by a provision for loan losses
of $187,000, recoveries of $47,000 and loan charge-offs of $42,000. The
reserve for possible loan losses as a percentage of ending loans was 1.26%
at December 31, 1997 and 1.32% at March 31, 1998. Corporate Management
believes that the reserve for possible loan losses as a percentage of

<PAGE>15
ending loans at March 31, 1998 remains at an appropriate level as the
ratio of the reserve for possible loan losses to nonperforming assets
remains strong at 404.4% as of March 31, 1998.  Corporate Management    
believes that the current level of the reserve for possible loan losses is
adequate based upon quantitative analysis of identified risks and analysis
of historical trends. 
              
Potential problem loans are those loans identified on management's watch
list in which management has some doubt as to the borrower's ability to
comply with the present repayment terms and loans which management is
actively monitoring due to changes in the borrower's financial condition.
At March 31, 1998, potential problem loans totaled $7,459,000, a decrease
of $1,305,000 from the December 31, 1997 balance.  The decrease in
potential problem loans during the first quarter of 1998 is primarily due
to a reduction in the gross amount of potential problem loans plus
transfers of potential problem loans to the 90 day past due classification
and nonaccrual status.
                             
The Corporation's credit policies are reviewed and modified on an ongoing
basis in order to remain suitable for the management of credit risk within 
the loan portfolio as conditions change.  At March 31, 1998 there are no
significant concentrations of credit in the loan portfolio. 
                         
The Corporation had outstanding loan and credit commitments to make loans
totaling $76,927,000 and $63,001,000 at March 31, 1998 and 1997,      
respectively. The increase in outstanding loan commitments results in part
from an increase in the unused portion of home equity lines of credits
from loans acquired from KeyBank National Association on September 15,
1997, net of a decrease in loan demand in the first quarter of 1998. 
Mortgage and commercial construction loan demand is expected to increase
in the second quarter of 1998 as seasonal weather conditions improve and
the construction season begins.  Consumer loan demand is expected to
increase in the second quarter for home improvement and automobile loans
as weather conditions improve.
                              
Total deposits increased $1,917,000 during the first quarter to
$412,572,000.  Noninterest-bearing deposits decreased to $66,346,000, at
March 31, 1998 for a decrease of $2,219,000, while interest-bearing      
deposits increased to $346,226,000 for an increase of $4,136,000. Federal
funds purchased and securities sold under agreements to repurchase      
decreased $3,848,000 during the first quarter of 1998.  Due to the      
volatility of customer repurchase agreements, most funds generated by
repurchase activity enter the Corporation's earning assets as short-term
investments.
                            
LIQUIDITY
                         
Liquidity measures a corporation's ability to generate cash or otherwise
obtain funds at reasonable prices to fund commitments to borrowers as well
as the demand of depositors and debt holders.  Principal internal sources
of liquidity for the Corporation and the Bank are cash and cash  
equivalents, Federal funds sold, and the maturity structures of investment
securities and portfolio loans.  Securities and loans available for sale
provide another source of liquidity through the cash flows of these
interest bearing assets as they mature or are sold.
                            
The Corporation continues to maintain a relatively high liquid position in
order to take advantage of interest rate fluctuations.  As of March 31,
1998 short-term security investments with maturities of one year or less
<PAGE>16
totaled $37,790,000 which represented 31.9% of total securities.  Adding
cash and due from banks of $20,117,000 and Federal Funds sold of   
$2,882,000, total liquid assets represented 12.4% of total assets.
                         
CAPITAL RESOURCES
           
LNB Bancorp, Inc. continues to maintain a strong capital position.
Total shareholders' equity increased to $45,787,000, at March 31, 1998. 
The increase resulted primarily from $1,678,000 of net income generated
from the first quarter of operations less a cash dividend payable to 
shareholders of $824,000.  The slight decrease in interest rates     
experienced in the first quarter of 1998 has caused a decrease in the    
overall market value of available for sale securities which resulted in a
reduction of shareholders' equity by $1,000 for the quarter ended March
31, 1998.  During the first quarter of 1998, LNB Bancorp, Inc. reduced its
stockholders' equity by purchasing 2,004 shares of its common stock at a
cost of $57,000.  As of March 31, 1998, the LNB Bancorp, Inc. held 100,000
shares of common stock as treasury stock.  LNB Bancorp, Inc. purchased
2,004 of these shares in the first quarter of 1998 and 97,996 shares in
1997 for a total cost of $2,900,000.
    
The Corporation continues to monitor growth to stay within the constraints
established by the regulatory authorities.  Under Federal banking        
regulations, an institution is deemed to be well-capitalized if it has a
Risk-based Tier 1 capital ratio of 6.00 percent or greater, a Risk-based
Total capital ratio of 10.00 percent or greater and a Leverage ratio of
5.00 percent or greater.  The Corporation's Risk-based capital and      
Leverage ratios have exceeded the ratios for a well-capitalized financial
institution for all periods presented.  The Corporation's capital and
leverage ratios as of March 31, 1998 and 1997 follow.
                            
                                                           MARCH 31,
                                                    ---------------------
                                                      1998          1997
                                                     ------       -------
                Tier I capital ratio                 13.60%        17.02%
                Required Tier I capital ratio         4.00%         4.00%
                Total capital ratio                  14.83%        18.28%
                Required total capital ratio          8.00%         8.00%
                Leverage ratio                        8.32%        10.24%
                Required leverage ratio               3.00%         3.00%
                          
On an ongoing basis the Corporation analyzes acquisition opportunities in
markets which are adjacent to or within the Corporation's current 
geographical market. Corporate management believes that it's current
capital resources are sufficient to support any foreseeable acquisition
activity. 
              
RESULTS OF OPERATIONS
                             
Interest and fees on loans increased $640,000 when compared to the first
quarter of 1997. This was the result of the impact of increases in the
loan portfolio of $24,000,000 offset by decreases in rates. Interest and
dividends on securities was $1,773,000 for the first quarter of 1998 for a
increase of $180,000 over the same period in 1997. The first quarter
increase in Interest and Dividends on Securities results from an increase
in the securities portfolio of over $13,000,000.  Interest and dividends
on securities represented 19.4% of total interest income at March 31, 1998
compared to 19.3% at March 31, 1997. Interest on Federal funds sold and
<PAGE>17
other interest bearing instruments was $60,000 at March 31, 1998 compared
to $10,000 at March 31, 1997. The increase resulted from higher average
balances invested in this form of financial instrument along with lower
interest rates.
                       
Total interest expense increased by $436,000 when compared to the first
quarter of 1997. The purchase of three branch offices from KeyBank 
National Association on September 15, 1997 increases the volume of
Checkinvest accounts and statement savings and certificates of deposit,
contributing to the increase in total interest expense.  Also, total
interest expense for the first quarter of 1998 was impacted by increases
in interest rates paid on certificate of deposit accounts when compared to
the first quarter of 1997. 
                              
Total other income increased by $329,000 when compared to the first
quarter of 1997.  This increase resulted from increases in trust income of
$159,000, increases in service charges of $94,000 and increases in other
service charges, exchanges and fees of $77,000. The increase in other
service charges, exchanges and fees is due, in part, to an increase in ATM
fee income.
                                                      
The Corporation continuously monitors noninterest expenses for greater 
profitability.  The entire staff is geared to improving productivity at
all levels.  Noninterest expense for the quarter ended March 31, 1998 was
$4,582,000, 11.4% more than the first quarter of 1997.  This increase was
due primarily to certain one-time consulting expenses incurred in the
first quarter of 1998, increases in credit card and merchant expenses plus 
the operating expenses of two additional branch offices acquired from
KeyBank and the related intangible amortization expenses.
                            
The effective tax rate remained at 34.0% during the first quarter of 1997
and 1998.  Net income was $1,678,000 and $1,525,000 for the quarters ended
March 31, 1998 and 1997, respectively.  Net income per share after       
adjusting for the two percent stock dividend in 1997 was $.41 and $.36 for
the quarters ended March 31, 1998 and 1997, respectively.
    
4. YEAR 2000 ISSUE
                       
Several of the Corporation's and Bank's regulators including the  
Securities and Exchange Commission, Federal Reserve Board, and the Office
of the Comptroller of Currency have issued guidance relative to the      
management and disclosures for year 2000 issues.  A discussion of the year
2000 issue as it relates to the Corporation, the Bank and their customers,
suppliers and vendors follows.
             
The Corporation has formed a strategic task force to perform a 
comprehensive review of its computer systems to identify the systems that
could be affected by the "Year 2000" issue and has developed an   
implementation plan to resolve the issue.  The Year 2000 problem is the
result of computer programs being written using two digits rather than
four to define the applicable year.  Any of the Corporation's programs
that have time sensitive software may recognize a date using "00" as the
year 1900 rather than the year 2000. 
              
The Corporation has notified its commercial customers of the year 2000
issue and is in contact with its' suppliers and third party vendors.
           
The Corporation expects to incur internal staff costs, consulting, and
other expenses to identify, correct or reprogram, and test the systems
<PAGE>18
for the year 2000 compliance issue.  The Corporation estimates that      
compliance costs for the year 2000 issue from 1998 through 1999 will not
exceed $100,000.  The Corporation continues to evaluate appropriate
courses of corrective action, including replacement of certain systems
whose associated costs would be recorded as assets and amortized.
Accordingly, the Corporation does not expect that year 2000 compliance
costs to be expensed over the next two years to have a material effect
on the financial position, liquidity or results of operations.
           
To date, the Corporation is in the process of obtaining formal 
notifications from all of its major vendors and suppliers that their
systems are year 2000 compliant.  During 1998, the Corporation will
develop strategies and plans to test and validate that these systems are
year 2000 compliant.  The Corporation plans to complete testing of
internal mission critical systems by December 31, 1998.  The Corporation
provides quarterly updates to the Board of Directors regarding the status
of the year 2000 issue.  The project completion date for the year 2000
issue is slated for June, 1999.
            
The "Year 2000 Computer Problem" creates risk for the Corporation from
unforeseen problems in its own computer systems and from third parties
with whom the Corporation deals on financial transactions.  Such failures
of the Corporation, and/or third parties' computer systems could have a
material impact on the Corporation's ability to conduct its business, and
especially to process and account for the transfer of funds electronically.
                            
IMPACTS OF ACCOUNTING AND REGULATORY PRONOUNCEMENTS
                          
Corporate management is not aware of any current recommendations by the
Financial Accounting Standards Board or by regulatory authorities which,
if they were implemented, would have a material effect on the liquidity,
capital resources or operations of the Corporation. 
                       
              
              
              
                         
                          
                          
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    

<PAGE>19
PART I - OTHER INFORMATION
ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
    
There has been no significant change in the interest rate risk or market
risk of LNB Bancorp, Inc. since December 31, 1997.
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    

<PAGE>20
PART II - OTHER INFORMATION
                 
ITEM 1  - Legal Proceedings
                           
     None
                              
ITEM 2  - Changes in Securities
                             
     See item 4, (c), (1)
                             
ITEM 3  - Defaults Upon Senior Securities
                             
     None
                              
ITEM 4  - Submission of Matters to a Vote of Security Holders
                              
     (a)  LNB Bancorp Inc.'s 1998 Annual Meeting of Shareholders
          was held on April 21, 1998.
                           
     (b)  Proxies were solicited by LNB Bancorp Inc.`s management
          pursuant to Regulation 14 under the Securities Exchange
          Act of 1934, there was no solicitation in opposition to
          management's nominees for election to the board of
          directors as listed in the proxy statement, and all
          such nominees were elected to the classes in the proxy
          statement pursuant to the vote of the shareholders.
                              
     (c)  Other matters voted upon - complete descriptions of the
          matters voted upon is contained in Item 6,
                                       
          (1)  Election of directors to serve as Class II Directors
               until April 17, 2001 Annual Meeting of Shareholders as
               follows:
                                                     ABSTAIN/     BROKER
                                     FOR     AGAINST WITHHELD    NON-VOTES
                                       
               Daniel P. Batista  3,518,689    -0-     34,362     569,424
                  
               David M. Koethe    3,521,274    -0-     31,777     569,424
                             
               Stanley G. Pijor   3,524,594    -0-     28,457     569,424
                           
               Eugene M. Sofranko 3,512,390    -0-     40,661     569,424
                              
               Leo Weingarten     3,518,056    -0-     34,995     569,424
                              
          The total number of shares of LNB Bancorp, Inc. Common Stock,
          $1.00 par value, outstanding as of March 9, 1998, the record
          date of the Annual Meeting, was 4,122,475.
                            
                                   
                    
                    
                    
                    
                    
                    
                    
                    

<PAGE>21
                            
ITEM 5  - Other Information
                              
     (a)  The Notice of the Annual Meeting to Shareholders and Proxy
          Statement (dated March 23, 1998) was previously filed as
          Exhibit 22 to the Bancorp's 1997 Annual Report on Form 10-K.
                              
ITEM 6  - Exhibits and Reports on Form 8-K
                           
     (a)  Exhibit (11) - Computation of Shares Used for Earnings
          Per Share Calculations.
                              
     (b)  Exhibit (13) - First Quarter Report to Shareholders of
          LNB Bancorp, Inc. - March 31, 1998 - EDGAR Version.
                            
     (c)  Exhibit (27) - Financial Data Schedule
                                  
     (d)  Reports on Form 8-K                   
                           
          There were no reports on Form 8-K filed for the three
          months ended March 31, 1998.
                              
          Also, see the Exhibit Index which is found on the next page of
          this Form.
                              
                              
                              
                              
                               SIGNATURE
                              
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the  
undersigned thereunto duly authorized.
                             
                              
                                              LNB BANCORP, INC.
                                                (registrant)
                              
                              
                              
                              
                                           /s/ Gregory D. Friedman
    Date: May 13, 1998                     --------------------------
                                            Gregory D. Friedman,
                                            Senior Vice President,
                                            Chief Operating Officer and
                                            Chief Financial Officer
                                                                    
                             
                              
                              
                                           /s/ Mitchell J. Fallis          
    Date: May 13, 1998                     --------------------------
                                            Mitchell J. Fallis,
                                            Vice President and
                                            Chief Accounting Officer
                    
                    
              

<PAGE>22
                             LNB Bancorp, Inc.
                                Form 10-Q
                          
                              
                               Exhibit Index
                              
                Pursuant to Item 601 (a) of Regulation S-K
                              
    S-K Reference                    Exhibit
        Number
                              
     (11)      Computation of Shares Used for Earnings Per Share
                 Calculations.  Footnote 2 Earnings Per Share on
                 Page 11 of this Form 10-Q is incorporated by
                 Reference.
                              
     (12)      First Quarter Report to Shareholders of LNB Bancorp, Inc. 
                 - March 31, 1998 - EDGAR Version
                              
     (27)      Financial Data Schedule
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                            
                            
                            
                            
                            
                            
                            
                            
                      

<PAGE>23
                          
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                               LNB Bancorp, Inc.
                              
                            Exhibit to Form 10 - Q
                              
                  (For the three months ended March 31, 1998)
                              
                          S - K Reference Number (13)
                              
                              
                              
                              
                   First Quarter Report to Shareholders of
                     LNB Bancorp, Inc. -  March 31, 1998
                                EDGAR Version
                              
DESCRIPTION:
Three sided pamphlet: Outside cover first quarter 1998 LNB Bancorp, Inc., 
"Familiar Faces...Friendly places" among 15 assorted pictures. 
                              
Inside contains: Message to shareholders, Unaudited EDGAR version
Consolidated Balance Sheets for period ending March 31, 1998 and March 31,
1997, respectively, unaudited EDGAR version Consolidated Statements of
Income for the Three Months ended March 31, 1998 and March 31, 1997,
respectively, a list of Directors and Officers of LNB Bancorp, Inc., and
the list of Banking Offices & ATMs.
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              

<PAGE>24
Outside cover description:
Green and white background, green and beige lettering.
                              
Front Cover:
                      
First Quarter 1998      
LNB BANCORP, INC.
                           
"Friendly faces...friendly places" among 15 assorted pictures.
                            
                    
                                  
                    
                    
                            
                    
                            
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                      
                    
                    
                    
                    
                    
                    

<PAGE>25
                    
Inside of front cover:
                               
Message to shareholders
                     
  It's a pleasure, once again, to report on the progress of LNB Bancorp,
Inc., and its subsidiary, The Lorain National Bank, after the first
quarter of 1998.
  We are pleased to announce that earnings have increased 10 percent for
the first 90 days of the year, compared to the same period one year ago.
  Earnings for the first quarter of 1998 reached $1,678,00, up from 
$1,525,000 during the first quarter of 1997. 
  Basic earnings per share for the first quarter of 1998 reached $0.41
compared to $0.36 for the first quarter of 1997.  Earnings for the first
quarter ended March 31, 1998 were higher than a year ago because of higher
net interest income and other non-interest income, offset in part by 
higher operating expenses.
  Cash dividend declared to shareholders increased 27.5 percent over the
comparative period in 1997.  Total shareholders' equity also increased to
$45.8 million at March 31, 1998 and total shareholders' equity, as a
percentage of total assets, reached 9.3 percent.  Total assets rose 10 
percent to $489.9 million as of March 31, 1998, as compared to a year ago.
  We are pleased to report that our Dividend Reinvestment Plan continues
to grow.  More than 35 percent of our shareholders are now participating
in the plan.
  The planning and construction of our new branch office in LaGrange is on
schedule for opening in the third quarter of this year.  We look forward
to expanding banking service to the southern part of Lorain County. 
  In the graphs presented below, we are please to show increases in total
assets and total shareholders' equity at March 31 from 1994 through 1998
and basic earnings per share for the first quarter, from 1994 through 1998.
  We thank you for your continued support and look forward to addressing
you after the completion of our next quarter of operations.
                    
  Sincerely,
                    
                    
  James F. Kidd                       Stanley G. Pijor         
  President and                       Chairman of the Board
  Chief Executive Officer
              
TOTAL ASSETS millions of dollars
(A Total Assets graph follows in printed version with assets on the x-axis
and years 1994 through 1998 on the y-axis.  The graph is a vertical bar
graph.  The co-ordinates, by year, which are presented in the table below
are plotted on the previously described grid.)
              
TOTAL SHAREHOLDERS' EQUITY millions of dollars
(A Total Shareholders' Equity graph follows in printed version with
shareholder's equity on the x-axis and years 1994 through 1998 on the
y-axis.  The graph is a vertical bar graph.  The co-ordinates, by year,
which are presented in the table below are plotted on the previously
described grid.)
              
BASIC EARNINGS PER SHARE dollars
(A Basic Earnings Per Share graph follows in printed version with earnings
per share on the x-axis and years 1994 through 1998 on the y-axis.  The
graph is a vertical bar graph.  The co-ordinates, by year, which are
<PAGE>26
presented in the table below are plotted on the previously described grid.)
              
                                       
                                    Total Shareholders'   Basic Earnings
               Total Assets                Equity           Per Share
   Year     Millions of Dollars     Millions of Dollars      Dollars
                   
   1998           $489.9                    $45.8             $0.41
   1997           $445.5                    $45.0             $0.36
   1996           $420.5                    $41.5             $0.31
   1995           $408.1                    $38.3             $0.26
   1994           $385.2                    $35.6             $0.24
                           
              
*Adjusted for stock dividends and splits
              
              
                     
                  
                             
                     
                              
                              
               
              
                             
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              

<PAGE>27
    Consolidated Balance Sheets
                                                    March 31
                                           --------------------------
                                               1998         1997
                                           ------------  ------------
    ASSETS:
    Cash and Due from Banks               $ 20,117,000  $ 19,369,000
    Federal Funds Sold and                   2,882,000     2,505,000
      Other Interest Bearing
       Instruments
    Securities Available for Sale           30,662,000    16,077,000
    Investment Securities                   87,862,000    89,158,000
    Loans                                  329,712,000   305,786,000
    Reserve for Possible Loan Losses        (4,360,000)   (4,089,000)
    -----------------------------------------------------------------
    NET LOANS                              325,352,000   301,697,000
    -----------------------------------------------------------------
    Premises, Equipment and Intangible
      Assets (net)                          16,221,000    10,726,000
    Accrued Interest Receivable and
      Other Assets                           6,832,000     5,916,000
    -----------------------------------------------------------------
    TOTAL ASSETS                          $489,928,000  $445,448,000
    -----------------------------------------------------------------
    LIABILITIES AND STOCKHOLDERS' EQUITY:
    Non-Interest Bearing Deposits         $ 66,346,000  $ 60,943,000
    Interest Bearing Deposits              346,226,000   310,061,000
    -----------------------------------------------------------------
    TOTAL DEPOSITS                         412,572,000   371,004,000
    -----------------------------------------------------------------
    Securities Sold under Repurchase
      Agreements and Other Short-
      term Borrowings                       25,102,000    24,346,000
    Federal Home Loan Bank Advances          2,045,000     1,095,000
    Accrued Taxes, Expenses and
      Other Liabilities                      4,422,000     3,974,000
    -----------------------------------------------------------------
    TOTAL LIABILITIES                      444,141,000   400,419,000
    -----------------------------------------------------------------
    Common Stock                             4,222,000     4,138,000
    Additional Capital                      22,600,000    20,178,000
    Retained Earnings                       21,796,000    20,737,000
    Net Unrealized Security Gains (Losses)      69,000       (24,000)
    Treasury Stock at Cost                  (2,900,000)          -0-
    -----------------------------------------------------------------
    TOTAL SHAREHOLDERS' EQUITY              45,787,000    45,029,000
    -----------------------------------------------------------------
    TOTAL LIABILITIES AND
     SHAREHOLDERS' EQUITY                 $489,928,000  $445,448,000
    -----------------------------------------------------------------
                                                              
    (LOGO) LNB
           Bancorp, Inc.
           and its subsidiary Lorain National Bank
                           
                              
                              
                              
                                

<PAGE>28
    Consolidated Statements of Income
                                              Three Months Ended
                                                    March 31
                                            ------------------------
                                                 1998         1997
                                            ------------ -----------
    INTEREST INCOME:
    Interest and Fees on Loans                $7,295,000  $6,655,000
    Interest and Dividends on Securities:      1,773,000   1,593,000
    Interest on Federal Funds Sold                58,000       8,000
    ----------------------------------------------------------------
    TOTAL INTEREST INCOME                      9,126,000   8,256,000
    ----------------------------------------------------------------
    INTEREST EXPENSE:
    Interest on Deposits                       3,139,000   2,730,000
    Interest on Securities Sold under
      Repurchase Agreements and Other
      Short-term Borrowings                      264,000     252,000
    Interest on Federal Home Loan Bank Advances   32,000      17,000
    ----------------------------------------------------------------
    TOTAL INTEREST EXPENSE                     3,435,000   2,999,000
    ----------------------------------------------------------------
    NET INTEREST INCOME                        5,691,000   5,257,000
    Provision for Loan Losses                    187,000     125,000
    ----------------------------------------------------------------
    NET INTEREST INCOME AFTER
     PROVISION FOR LOAN LOSSES                 5,504,000   5,132,000
    ----------------------------------------------------------------
    OTHER INCOME:
    Trust Department Income                      437,000     278,000
    Fees and Service Charges                   1,176,000   1,005,000
    Gains from Sales of Loans and Securities         -0-         -0-
    Other Operating Income                         9,000      10,000
    ----------------------------------------------------------------
    TOTAL OTHER INCOME                         1,622,000   1,293,000
    ----------------------------------------------------------------
    OTHER EXPENSES:
    Salaries and Employee Benefits             2,155,000   2,008,000
    Net Occupancy Expense of Premises            352,000     329,000
    Furniture and Equipment Expenses             578,000     561,000
    Supplies and Postage                         255,000     247,000
    Ohio Franchise Tax                           135,000     129,000
    Other Operating Expenses                   1,107,000     839,000
    ----------------------------------------------------------------
    TOTAL OTHER EXPENSES                       4,582,000   4,113,000
    ----------------------------------------------------------------
    INCOME BEFORE FEDERAL INCOME TAXES         2,544,000   2,312,000
    Federal Income Taxes                         866,000     787,000
    ----------------------------------------------------------------
    NET INCOME                                $1,678,000  $1,525,000
    ----------------------------------------------------------------
                               
    BASIC EARNINGS PER SHARE                      $ .41      $  .36 
    DILUTED EARNINGS PER SHARE                    $ .41      $  .36
    ----------------------------------------------------------------
    DIVIDENDS DECLARED PER SHARE                  $ .20      $  .16
    ----------------------------------------------------------------
                                                                             

<PAGE>29
Inside cover
                    
Three column format
                           
Directors and Officers of LNB Bancorp, Inc.
                      
Directors
                    
Stanley G. Pijor                 Benjamin G. Norton
Chairman of the Board            Employee and Community
LNB Bancorp, Inc. and            Relations Manager
Lorain National Bank             RELTEC Corporation
                   
James L. Bardoner                Jeffrey F. Riddell
Retired, Former President        President
Dorn Industries, Inc.            Consumers Builders Supply Co.
                                 President and
Daniel P. Batista                Chief Executive Officer,
Attorney/Partner                 Consumeracq, Inc.
Cook & Batista Co., L.P.A.
                                 Thomas P. Ryan
Robert M. Campana                Executive Vice President
Managing Director                and Secretary/Treasurer
P.C. Campana Inc.                LNB Bancorp, Inc.
                                 Executive Vice President
Terry D. Goode                   and Secretary
Vice President                   Lorain National Bank
Lorain County Title Company
                                 T.L. Smith, M.D.
Wellsley O. Gray                 Retired Physician
Retired
                                 Eugene M. Sofranko
James F. Kidd                    President and
President and                    Chief Executive Officer
Chief Executive Officer          Lorain Glass Company, Inc.
LNB Bancorp, Inc. and
Lorain National Bank             Paul T. Stack
                                 Retired
David M. Koethe
Chairman of the Board            Leo Weingarten
The Lorain Printing Company      Retired
                 
                    
Directors Emeritus of Lorain National Bank
                
Don A. Sanborn
Retired
                   
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    

<PAGE>30
                    
Officers
                    
Stanley G. Pijor
Chairman of the Board
LNB Bancorp, Inc. and
Lorain National Bank
                  
James F. Kidd
President and 
Chief Executive Officer
                  
Thomas P. Ryan
Executive Vice President
and Secretary/Treasurer
             
Sandra L. Dubell
Senior Vice President and
Chief Lending Officer
                    
Gregory D. Friedman
Senior Vice President,
Chief Operating Officer and
Chief Financial Officer
                    
Michael D. Ireland
Senior Vice President
                  
Emma N. Mason
Senior Vice President
                  
James H. Weber
Senior Vice President
                    
Mitchell J. Fallis
Vice President and
Chief Accounting Officer
                     
                    
                    
                    
                    
                    
Photo credit
We'd like to thank the Lorain County
Visitors Bureau and Terry Jonasson for
the use of their photos in this report.
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    

<PAGE>31
Back Cover: 
White background with black lettering
                
Four column format
                  
Banking Offices and ATMS
                   
ATM service available wherever you see this symbol **
                
Lorain banking officers          Avon Lake banking office
Main Office                      **Avon Lake Office
457 Broadway                     240 Miller Road
Lorain, Ohio 44052               Avon Lake, Ohio 44012
244-7185                         933-2186
                                                                 
**Sixth Street Drive-In Office   Elyria banking offices
200 Sixth Street                 **Second Street Office
Lorain, Ohio 44052               221 Second Street
244-7242                         Elyria, Ohio 44035
                                 323-4621
**Kansas Avenue Office
1604 Kansas Avenue               **Cleveland Street Office
Lorain, Ohio 44052               801 Cleveland Street
288-9151                         Elyria, Ohio 44035
                                 365-8397
**Oberlin Avenue Office
3660 Oberlin Avenue              **Midway Mall Office
Lorain, Ohio 44053               6395 Midway Mall Blvd.
282-9196                         Elyria, Ohio 44035
                                 324-6530
**Cooper-Foster Park
Road Office                      Oberlin banking office
1920 Cooper-Foster Park Rd       **Oberlin Office
Lorain, Ohio 44053               40 E College Street
282-1252                         Oberlin, Ohio 44074
                                 775-1361
**Pearl Avenue Office
2850 Pearl Avenue                Kendal at Oberlin Office
Lorain, Ohio 44055               600 Kendal Drive
277-1103                         Oberlin, Ohio 44074
                                 774-5400
**Lake Avenue Office
42935 N. Ridge Road              Olmsted Township
Elyria Township, Ohio 44035      banking office
233-7196                         **Olmsted Township Office
                                 27095 Bagley Road
**West Park Drive Office         Olmsted Township, Ohio 44138
2130 West Park Drive             235-4600
Lorain, Ohio 44053
988-3131                         The Renaissance Office
                                 26376 John Road
Amherst banking office           Olmsted Township, Ohio 44138
**Amherst Office                 427-0041
1175 Cleveland Avenue
Amherst, Ohio 44001              Vermilion banking office
988-4423                         **Vermilion Office
                                 4455 E. Liberty Avenue
                                 Vermilion, Ohio 44089
                                 967-3124

<PAGE>32
                    
Westlake banking offices          Community-based automated
**Crossings of Westlake, Ohio     teller machine locations
30210 Detroit Road                **Captain Larry's Marathon
Westlake, Ohio 44145              1317 State Route 60
892-9696                          Vermilion, Ohio
                    
Westlake Village Office           **Convenient Food Mart
28550 Westlake Village Drive      5375 West Erie Avenue
Westlake, Ohio 44145              Lorain, Ohio
808-0229       
                                  **Gateway Plaza
Other offices                     3451 Colorado Avenue
Executive Offices                 Lorain, Ohio
457 Broadway
Lorain, Ohio 44052                **Lakeland Medical Center
244-7123                          3700 Kolbe Road
                                  Lorain, Ohio
Administration
457 Broadway                      **Lorain County
Lorain, Ohio 44052                Community College
                                  1005 N. Abbe Road
Operations                        Elyria, Ohio
2130 West Park Drive
Lorain, Ohio 44053                **Lorain Plaza
989-3315                          Shopping Center
                                  1147 Meister Road
Human Resources                   Lorain, Ohio
2130 West Park Drive
Lorain, Ohio 44053                **Lowe's Home
989-3139                          Improvement Warehouse
                                  620 Midway Boulevard
Marketing                         Elyria, Ohio
457 Broadway
Lorain, Ohio 44052                **Midway Mall Food Court
244-7332                          3343 Midway Mall Blvd.
                                  Elyria, Ohio
Purchasing
2150 West Park Drive
Lorain, Ohio 44053
989-3260
                    
All other departments &
information not listed
Lorain
244-6000
1-800-860-1007
                    
Elyria/Cleveland
236-5047
                    
                    
Logos for FDIC Insured, Federal Home Loan Bank System, Equal Housing
Lender, and LNB Bancorp, Inc.       
                     
                     
                              
                              
              
<PAGE>33
                         
                              
                               LNB Bancorp, Inc.
                             
                            Exhibit to Form 10 - Q
                              
                  (For the three months ended March 31, 1998)
                              
                          S - K Reference Number (27)
                              
                              
                              
                              
                            Financial Data Schedule