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                      Securities and Exchange Commission
                                Washington D.C.

                                  FORM 10-KSB

               ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF

                      THE SECURITIES EXCHANGE ACT OF 1934

For the Fiscal Year Ended December 31, 2000   Commission File Number 0-13395

                           UNITED FINANCIAL BANKING
                                COMPANIES, INC.
            (Exact name of registrant as specified in its charter)

                      VIRGINIA                          54-1201253
          (State or other jurisdiction of            (I.R.S. Employer
          incorporation or organization)           Identification Number)

                8399 Leesburg Pike
                P.O. Box 2459
                Vienna, Virginia                            22182
      (Address of principal executive offices)            (Zip Code)

      Registrant's telephone number, including area code: (703) 734-0070

     Securities registered pursuant to Section 12(g) of the Exchange Act:

                              Title of each class
                         Common Stock, $1.00 par value

     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 such 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 by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-B is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any amendment to
this Form 10-KSB.   X
                  -----

     For the year ended December 31, 2000, United Financial Banking Companies,
Inc. reported revenues of $5,597,759.

     The aggregate market value of the Common Stock held by non-affiliates of
the registrant was $3,924,660 as of March 1, 2001.

     As of March 1, 2001, the registrant had 1,001,499 shares of outstanding
common stock, $1.00 par value.

                      DOCUMENTS INCORPORATED BY REFERENCE

     Selected information from the Company's 2000 Proxy Statement for the Annual
Meeting to be held June 8, 2001 is incorporated by reference into Part III of
this report, and information from the 2000 Annual Report to Shareholders are
incorporated by reference into Parts I, II and III of this report.
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                                    PART  I
Item 1. Business

     United Financial Banking Companies, Inc. ("UFBC"), is a one-bank holding
company which was organized under the laws of the State of Virginia in February
1982. In July 1983, UFBC acquired all the outstanding common stock of The
Business Bank (the "Bank"), a banking company organized under the laws of the
State of Virginia. UFBC also wholly owns Business Venture Capital, Inc. (BVCI),
a subsidiary which holds and has developed certain foreclosed real estate and
conducts limited lending activities. Collectively, UFBC, the Bank and BVCI are
referred to as "the Company".

     The Bank was organized in 1980. In October 1981, the Bank commenced limited
operations and began full scale operations in August 1982, when its main office
building was completed.

     At December 31, 2000, the Company had consolidated total assets of
$71,854,113, total deposits of $60,642,408, total loans of $55,701,135 and total
stockholders' equity of $8,550,783.

     On March 1, 2001, the Company and its subsidiaries employed 25 full-time
employees.

The Bank

     The Bank, UFBC's primary subsidiary, is a state banking association
engaging in a general commercial banking business and specializing in offering
banking services to business and professional customers. These services include
the usual deposit functions of commercial banks, including business and personal
checking accounts, "NOW" accounts and savings accounts; business and commercial
loans; and processing of collections. The Bank is a Federally insured state non-
member bank and its deposits are insured up to $100,000 by the Bank Insurance
Fund of the Federal Deposit Insurance Corporation (FDIC).

     The Bank markets its services to professionals and small and medium sized
businesses in its service area of Northern Virginia and surrounding communities
because it believes that business accounts are more profitable than small
consumer accounts, which comprise the majority of accounts at most retail banks.
The Bank further believes that professionals and small businesses represent a
market segment whose needs have not been met by many retail banks.

     It is the Bank's belief that business accounts can be more profitable due
to the income generated from business' higher average balances for both deposits
and loans. Business accounts are less costly than consumer accounts as they
usually require fewer conveniences such as numerous branches, extended hours and
drive-thru facilities. The Bank had previously limited its service relationship
with customers to primarily encompass their business needs. In order to fully
meet customers' needs and to remain competitive in the current market, the Bank
has broadened service to business and professional customers by offering
products such as consumer installment and mortgage loans to the owners and
employees of the businesses. It is the Bank's belief that this augmentation will
help maintain the Bank's core accounts and will enable the organization to
diversify asset growth.

     By emphasizing individualized relationships between the Bank's officers and
its customers, the Bank believes it attracts customers that have been neglected
by retail banks that direct their services to more numerous consumer accounts
and large business customers.

     The Company experiences a high degree of competition in the Washington
Metropolitan area. All of the Company's products and services compete actively
with national and state banks, savings banks, savings and loan associations,
credit unions, finance companies, money market funds, mortgage banks, insurance
companies, investment banking firms, brokerage firms and other nonbank
institutions that provide one or more of the services offered by the Company and
its subsidiaries, primarily the Bank. As a result of federal and state
legislation regarding interstate branching and mergers, additional competitors
not currently in the Bank's service area may enter the market. Among commercial
banks, the principal method of competition is the provision and delivery of
financial services that are specific to the needs of the community. The Company
believes that the expertise in and awareness of the demands of our business
community position us with the unique ability to meet those needs expeditiously.

     The Company does not believe that there will be any material effect on
capital expenditures, results of operations, financial condition or the
competitive position of itself or any of its subsidiaries with regard to
compliance with federal, state or local requirements related to the general
protection of the environment.

                                       2
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Supervision and Regulation

General

     United Financial Banking Companies, Inc. is a bank holding company subject
to supervision and regulation by the Board of Governors of the Federal Reserve
System (the "Federal Reserve Board") pursuant to the BHCA, and files with the
Federal Reserve Board an annual report and such additional reports as the
Federal Reserve Board may require. As a bank holding company, UFBC's activities
and those of its banking and nonbanking subsidiary are limited to the business
of banking and activities closely related or incidental to banking. UFBC may not
directly or indirectly acquire the ownership or control of more than 5 percent
of any class of voting shares or substantially all of the assets of any company,
including a bank, without prior approval of the Federal Reserve Board.

     The deposits of UFBC's subsidiary bank are insured by, and therefore the
subsidiary bank is subject to the regulations of the FDIC, and is also subject
to regulation and examination by the State of Virginia. Various consumer laws
and regulations also affect the operations of the Bank. Regulatory limitations
on the payment of dividends to UFBC by its banking subsidiary are discussed in
Note 12 to the consolidated financial statements.

Holding Company Liability

     Federal Reserve Board policy requires bank holding companies to serve as a
source of financial strength to their subsidiary banks by standing ready to use
available resources to provide adequate capital funds to subsidiary banks during
periods of financial stress or adversity. A bank holding company also could be
liable under certain provisions of a new banking law for the capital
deficiencies of an undercapitalized bank subsidiary. In the event of a bank
holding company's bankruptcy under Chapter 11 of the U.S. Bankruptcy Code, the
trustee will be deemed to have assumed and is required to cure immediately any
deficit under any commitment by the debtor to any of the federal banking
agencies to maintain the capital of an insured depository institution, and any
claim for a subsequent breach of such obligation will generally have priority
over most other unsecured claims.

Supervisory Agreements

     At December 31, 2000, neither UFBC nor it subsidiaries were subject to any
formal or informal supervisory agreements with their regulators.

Enforcement Actions and Administrative Sanctions

     Failure to comply with applicable laws and regulations could subject UFBC,
its subsidiary bank and their officers, directors and other institution-
affiliated parties to administrative sanctions and potentially substantial civil
money penalties.

Transactions with Affiliates

     UFBC's subsidiary bank is subject to restrictions under federal law which
limit a bank's extensions of credit to, and certain other transactions with,
affiliates. Such transactions by any subsidiary bank with any one affiliate are
limited in amount to 10 percent of such subsidiary bank's capital and surplus
and with all affiliates to 20 percent of such subsidiary bank's capital and
surplus. Furthermore, such loans and extensions of credit, as well as certain
other transactions, are required to be secured in accordance with specific
statutory requirements. The purchase of low quality assets from affiliates is
generally prohibited. Federal law also provides that certain transactions with
affiliates, including loans and asset purchases, must be on terms and under
circumstances, including credit standards, that are substantially the same, or
at least as favorable to the institution as those prevailing at the time for
comparable transactions involving other non-affiliated companies or, in the
absence of comparable transactions, on terms and under circumstances, including
credit standards, that in good faith would be offered to, or would apply to,
non-affiliated companies.

                                       3
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CAPITAL REQUIREMENTS

     Under the prompt corrective action provisions of the Federal Deposit
Insurance Act of 1991 ("FDIA") federal banking regulators are required to take
prompt corrective action in respect of depository institutions that do not meet
minimum capital requirements. FDIA establishes five capital categories: "well
capitalized," "adequately capitalized," "undercapitalized," "significantly
undercapitalized," and "critically undercapitalized ."

     Under the regulations, a "well capitalized" institution has a minimum total
capital to total risk-weighted assets ratio of at least 10 percent, a minimum
Tier I capital to total risk-weighted assets ratio of at least 6 percent, a
minimum leverage ratio of at least 5 percent and is not subject to any written
order, agreement, or directive; an "adequately capitalized" institution has a
total capital to total risk-weighted assets ratio of at least 8 percent, a Tier
I capital to total risk-weighted assets ratio of at least 4 percent, and a
leverage ratio of at least 4 percent (3 percent if given the highest regulatory
rating and not experiencing significant growth), but does not qualify as "well
capitalized." An "undercapitalized" institution fails to meet any one of the
three minimum capital requirements. A "significantly undercapitalized"
institution has a total capital to total risk-weighted assets ratio of less than
6 percent, a Tier I capital to total risk-weighted assets ratio of less than 3
percent or a Tier I leverage ratio of less than 3 percent. A "critically
undercapitalized" institution has a Tier I leverage ratio of 2 percent or less.
Under certain circumstances, a "well capitalized," "adequately capitalized" or
"undercapitalized" institution may be required to comply with supervisory
actions as if the institution was in the next lower capital category. The Bank
meets the criteria of a well capitalized institution.

     A depository institution is generally prohibited from making any capital
distribution (including payment of a dividend) or paying any management fee to
its holding company if the depository institution would thereafter be
undercapitalized. Undercapitalized depository institutions are subject to
restrictions on borrowing from the Federal Reserve System. In addition,
undercapitalized depository institutions are subject to growth and activity
limitations and are required to submit "acceptable" capital restoration plans.
Such a plan will not be acceptable unless, among other things, the depository
institution's holding company guarantees the capital plan, up to an amount equal
to the lesser of five percent of the depository institution's assets at the time
it becomes undercapitalized or the amount of the capital deficiency when the
institution fails to comply with the plan. Federal banking agencies may not
accept a capital plan without determining, among other things, that the plan is
based on realistic assumptions and is likely to succeed in restoring the
depository institution's capital. If a depository institution fails to submit an
acceptable plan, it is treated as if it is significantly undercapitalized and
may be placed into conservatorship or receivership.

     Significantly undercapitalized depository institutions may be subject to a
number of requirements and restrictions, including orders to sell sufficient
voting stock to become adequately capitalized, more stringent requirements to
reduce total assets, cessation of receipt of deposits from correspondent banks,
further activity restricting prohibitions on dividends to the holding company
and requirements that the holding company divest its bank subsidiary, in certain
instances. Subject to certain exceptions, critically undercapitalized depository
institutions must have a conservator or receiver appointed for them within a
certain period after becoming critically undercapitalized.

Brokered Deposits

     FDIC regulations prohibit a bank from accepting brokered deposits (which
term is defined to include any deposit with an interest rate more than 75 basis
points above prevailing rates in the applicable market area) unless (i) it is
well capitalized, or (ii) it is adequately capitalized and receives a waiver
from the FDIC. For purposes of this regulation, a bank is defined to be well
capitalized if it maintains a leverage ratio of at least 5 percent, a risk-
adjusted Tier I capital ratio of at least 6 percent and a risk-adjusted total
capital ratio of at least 10 percent and is not otherwise in a "troubled
condition", as specified by its appropriate federal regulatory agency. A bank
that is not adequately capitalized may not pay an interest rate on any deposits
in excess of 75 basis points over the prevailing market rates of its specified
market area. There are no such restrictions on a bank that is well capitalized.
At December 31, 2000, the Company had no brokered deposits.

FDIC Insurance Assessments

     The bank is subject to FDIC deposit insurance assessments. The FDIC has
adopted a risk-based system for determining deposit insurance assessments. An
insured institution is assessed at rates depending on its capital and
supervisory classifications, as assigned by its primary federal regulator. As a
result of the bank insurance fund ("BIF"), which insures the Bank's deposits,
reaching the mandated level of reserves, the range of deposit premium rates was
reduced in the first half of 1996 to a range of .00 percent to .27 percent.

                                       4
<PAGE>

Conservatorship and Receivership Powers of Federal Banking Agencies

     The authority of the federal banking regulators over depository
institutions includes, among other things, appointment of the FDIC as
conservator or receiver of an undercapitalized institution under certain
circumstances. In the event a bank is placed into conservatorship or
receivership, the FDIC is required, subject to certain exceptions, to choose the
method for resolving the institution that is least costly to the BIF of the
FDIC, such as liquidation.

     The FDIC may provide federal assistance to a "troubled institution" without
placing the institution into conservatorship or receivership. In such case, pre-
existing debtholders and shareholders may be required to make substantial
concessions and, insofar as practical, the FDIC will succeed to their interests
in proportion to the amount of federal assistance provided.

     Various other legislation, including proposals to overhaul the banking
regulatory system and to limit the investments that a depository institution may
make with insured funds are from time to time introduced in Congress. The
Company cannot determine the ultimate effect that recent legislation and the
implementing regulations to be adopted thereunder, or any other potential
legislation, if enacted, would have upon its financial condition or results of
operations.

United Financial Banking Companies, Inc. Subsidiaries
The Business Bank

     The Business Bank was organized on April 17, 1980 to provide commercial
banking services.

Business Venture Capital, Inc.

     Business Venture Capital, Inc. was incorporated February 26, 1985 to hold
certain foreclosed real estate and to provide limited banking services.

Item 2.  Properties

     The main offices of the Company and the Bank are located at 8399 Leesburg
Pike, Vienna, Virginia 22182.

     A portion of the information required by this item is incorporated by
reference to the section entitled, "Note 6 of the Consolidated Financial
Statements" appearing on page 12 of the Annual Report to Shareholders for the
year ended December 31, 2000.

     Management believes that the Company's current facilities are adequate for
operating in the normal course of business.

Item 3. Legal Proceedings

     In the ordinary course of its business, the Company is party to legal
proceedings. There is no litigation currently pending against the Company or any
of its subsidiaries which individually or in the aggregate would have a material
adverse affect on the Company's financial condition or results of operation.

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

     No matters were submitted to security holders during the fourth quarter of
the Company's fiscal year.

                                    PART II

Item 5. Market for the Registrant's Common Equity and Related Shareholder
Matters

     A. The common stock of the Company is traded infrequently in the over the
counter market under the symbol "UFBC". Scott & Stringfellow, Inc. currently
serves as a market maker in the common stock.

     B. There were 450 holders of record of the Registrant's common stock as of
December 31, 2000.

     C. The Company's cash dividend history is incorporated by reference to the
section entitled "Corporate Information" appearing on page 36 of the Annual
Report to Shareholders for the year ended December 31, 2000.

                                       5
<PAGE>

Selected Consolidated Financial Data

     The information required by this item is incorporated by reference to the
section entitled, "Selected Consolidated Financial Data" appearing on page 23 of
the Annual Report to Shareholders for the year ended December 31, 2000.

Item 6. Management's Discussion and Analysis

     The information required by this item is incorporated by reference to the
section entitled, "Management's Discussion and Analysis" appearing on pages 23
through 36 of the Annual Report to Shareholders for the year ended December 31,
2000.

Item 7. Financial Statements and Supplementary Data

     The information required by this item is incorporated by reference from the
information appearing on pages 1 through 22 of the Annual Report to Shareholders
for the year ended December 31, 2000.

Item 8. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure

     On January 1, 2001, D.R. Maxfield & Company, the independent certified
public accountants which audited UFBC's financial statements as of and for the
three years ended December 31, 2000, advised UFBC that it had merged with the
firm Brown, Dakes & Wannall, P.C. to form the firm of Brown, Dakes, Wannall &
Maxfield, P.C.

     D.R. Maxfield & Company's report on UFBC's financial statements for the
year ended December 31, 2000 did not contain an adverse opinion or disclaimer of
opinion, and were not modified as to uncertainty, audit scope or accounting
principles.

     During the period January 1, 1998 to December 31, 2000 and through the date
on which they merged, there were no disagreements with D.R. Maxfield & Company
on any matter of accounting principles or practices, financial statement
disclosure, audit scope or procedure which, if not resolved to its satisfaction,
would have caused it to make reference to such disagreement in connection with
this report

                                   PART III

Item 9. Directors and Executive Officers of the Registrant

     Information as to the Registrant's Executive Officers and Directors is
incorporated by reference from the information contained under "Election of
Directors" in the Registrant's Proxy Statement filed with respect to the Annual
Meeting of Shareholders to be held on June 8, 2001.

Item 10. Executive Compensation

     The information required by this item is incorporated by reference to the
information contained under "Executive Officers" in the Registrant's Proxy
Statement filed with respect to the Annual Meeting of Shareholders to be held on
June 8, 2001.

Item 11. Security Ownership of Certain Beneficial Owners and Management

     The information required by this item is incorporated by reference to the
information contained under "Stock Ownership" in the Registrant's Proxy
Statement filed with respect to the Annual Meeting of Shareholders to be held on
June 8, 2001.

Item 12. Certain Relationships and Related Transactions

     The information required by this item is incorporated by reference to the
information contained under "Certain Relationships" in the Registrant's Proxy
Statement filed with respect to the Annual Meeting of Shareholders to be held on
June 8, 2001.

                                       6
<PAGE>

Item 13. Exhibits, Financial Statements, Schedules, and Reports on Form 8-K
(a)(1) Financial Statements

     The following financial statements of United Financial Banking Companies,
Inc. and subsidiaries are incorporated by reference to the Registrant's 2000
Annual Report to Shareholders as listed below:

                                                                Page
                                                                ----

Report of Independent Certified Public Accountants                 1
Consolidated Balance Sheets--December 31, 2000 and 1999            2
Consolidated Statements of Income--
Years Ended December 31, 2000, 1999 and 1998                       3
Consolidated Statements of Changes in Shareholders' Equity--
Years Ended December 31, 2000, 1999 and 1998                       4
Consolidated Statements of Cash Flows--
Years Ended December 31, 2000, 1999 and 1998                       5
Notes to Financial Statements                                   6-22

(a)(2) Schedules

     All schedules are omitted since the required information is either not
applicable, not deemed material or is shown in the respective financial
statements or in the notes thereto.

(b) Reports on Form 8-K

     There were no items reported on Form 8-K during the quarter ended December
31, 2000.

(c)  Exhibits

Exhibit 11--Statement Regarding Computation of Per Share Earnings

     Earnings per share are computed as expressed in Note 17 to the consolidated
financial statements, incorporated by reference to the 2000 Annual Report.

Exhibit 13--Annual Report to Security Holders

Exhibit 16--Letter of D.R. Maxfield & Company

Exhibit 21--Subsidiaries of the Registrant

                                       7
<PAGE>

                                  SIGNATURES



     Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report or amendment
thereto to be signed on its behalf by the undersigned, thereunto duly authorized
on the 30th day of March, 2001.


                                    UNITED FINANCIAL BANKING COMPANIES, INC.
                                    (Registrant)


                                    By:  /s/  JEFFERY T. VALCOURT
                                         ---------------------------------
                                         Jeffery T. Valcourt, Chairman


     Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed by the following persons on behalf of the Registrant and
in the capacities and on the dates indicated.

<TABLE>
<S>                                     <C>                           <C>
/s/  JEFFERY T. VALCOURT                Chairman/Director             3/30/01
-------------------------------                                       -------
Jeffery T. Valcourt

/s/ HAROLD C. RAUNER                    President, CEO/Director       3/30/01
-------------------------------                                       -------
Harold C. Rauner

/s/ MANUEL V. FERNANDEZ                 Vice Chairman/Director        3/30/01
-------------------------------                                       -------
Manuel V. Fernandez

/s/ WILLIAM J. MCCORMICK, JR.           Director                      3/30/01
-------------------------------                                       -------
William J. McCormick, Jr.

/s/ DENNIS I. MEYER                     Director                      3/30/01
-------------------------------                                       -------
Dennis I. Meyer

/s/ EDWARD H. PECHAN                    Director                      3/30/01
-------------------------------                                       -------
Edward H. Pechan

/s/ SHARON A. STAKES                    Director                      3/30/01
-------------------------------                                       -------
Sharon A. Stakes

/s/ LISA M. PORTER                      Principal Financial Officer   3/30/01
-------------------------------                                       -------
Lisa M. Porter                          Principal Accounting Officer
</TABLE>

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