<PAGE>


                                         FORM 10-Q

                             SECURITIES AND EXCHANGE COMMISSION

                                  WASHINGTON, D. C.  20549

                        Quarterly Report Under Section 13 or 15 (d)
                          of the Securities Exchange Act of 1934

 For Quarter Ended           March 31, 1999
                  .......................................................

 Commission File Number      2-95114
                        .................................................

                             LOGAN COUNTY BANCSHARES, INC.
 ........................................................................
           (Exact Name of Registrant as Specified in Its Charter)

                             WEST VIRGINIA
 ........................................................................
   (State or other jurisdiction of incorporation or organization)

                             55-0660015
 ........................................................................
                  (IRS Employer Identification Number)

 P. O. BOX 597, LOGAN, WEST VIRGINIA                  25601
 ........................................................................
         (Address of Principal Executive Offices)            (Zip Code)

                                     (304) 752-1166
 ........................................................................
            (Registrant's telephone number including area code)


 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
                                                             ----  -----


                   APPLICABLE ONLY TO CORPORATE ISSUERS:

 Indicate  the number  of shares  outstanding,  of each  of the  issuer's
 classes of common stock, as of the latest practicable date.   478,000
                                                             ------------


<PAGE>



                      LOGAN COUNTY BANCSHARES, INC.

PART I - FINANCIAL INFORMATION

        ITEM I.  FINANCIAL STATEMENTS:

                 Consolidated Statement of Condition As of March 31,
                      1999 and 1998 and December 31, 1998.

                 Consolidated Statement of Income For the Three Month
                      Period Ended March 31, 1999 and 1998.

                 Consolidated  Statement  of Changes in Stockholders'
                      Equity for the Three Month Period Ended March
                      31, 1999 and 1998.

                 Consolidated Statement of Cash Flows for the Three Month
                      Period Ended March 31, 1999 and 1998.

                 Notes to Consolidated Financial Statements

        ITEM 2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS OF  FINANCIAL
                 CONDITION AND RESULTS OF OPERATIONS.

PART II - OTHER INFORMATION

SIGNATURES                 


<PAGE>

                  LOGAN COUNTY BANCSHARES, INC. AND SUBSIDIARIES
                       Consolidated Statement of Condition
                  March 31, 1999 and 1998 and December 31, 1998
                               (In Thousands)

<TABLE>
<CAPTION>

                    ASSETS
                  ---------

                                                    March 31,         December 31,
                                               1999           1998        1998
                                               ----           ----       ------
<S>                                            <C>            <C>         <C>  
CASH AND DUE FROM BANKS                      $  4,856      $ 5,131     $ 5,727

INVESTMENT SECURITIES:                                                
     AVAILABLE FOR SALE                        28,585        15,046      25,299
     HELD TO MATURITY                           1,997         2,495       2,496
                                                                      
FEDERAL FUNDS SOLD                              5,890        17,130       7,520
                                                                      
LOANS:                                                                
     TOTAL LOANS                              100,199        86,997      95,103

          RESERVE FOR LOAN LOSSES                 721           692         701
                                             --------      --------    --------
                                                                      
          NET LOANS                            99,478        86,305      94,402
                                                                      
BANK PREMISES AND EQUIPMENT                     2,609         2,128       2,085
                                                                      
ACCRUED INTEREST AND OTHER ASSETS               1,963         1,585       1,749
                                             --------      --------    --------
                                             $145,378      $129,820    $139,278
                                             --------      --------    --------

                LABILITIES AND STOCKHOLDERS' EQUITY
                ------------------------------------
DEPOSITS:
     DEMAND DEPOSITS:
      NON-INTEREST                           $ 19,795      $ 14,322    $ 18,292
      INTEREST BEARING                         22,922        20,691      20,644
     SAVINGS DEPOSITS                          31,687        30,630      29,817
     TIME DEPOSITS                             55,838        49,911      55,667
                                             --------      --------    --------
             TOTAL DEPOSITS                   130,242       115,554     124,420

ACCRUED AND OTHER LIABILITIES                     621           606         680
INCOME TAXES PAYABLE:
     CURRENT                                      272           260          28
     DEFERRED                                       8            71          91
                                             --------      --------    --------
           TOTAL LIABILITIES                  131,143       116,491     125,219

STOCKHOLDERS' EQUITY:
    AUTHORIZED & ISSUED 520,000 SHARES
     IN 1998 AND 509,612 IN 1997;
     OUTSTANDING 478,000 IN 1998 AND
     467,612 IN 1997;                           1,300         1,300       1,300
    SURPLUS                                     2,408         2,408       2,408
    RETAINED EARNINGS                          11,387        10,481      11,211
    TREASURY STOCK                               (860)         (860)       (860)
                                             --------     ---------   ---------
          TOTAL STOCKHOLDERS' EQUITY           14,235        13,329      14,059
                                             --------     ---------   ---------
                                             $145,378      $129,820   $ 139,278
                                             --------     ---------   ---------
                                             --------     ---------   ---------

</TABLE>

         SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.

<PAGE>

               LOGAN COUNTY BANCSHARES, INC. AND SUBSIDIARIES
                       Consolidated Statement of Income
               For the Three Month Periods Ended March 31, 1999 and 1998
                                      (In Thousands)

<TABLE>
<CAPTION>

                                                   1999        1998
                                                   ----        ----
<S>                                              <C>          <C>
INTEREST INCOME:
     INTEREST ON LOANS                           $2,026       $1,861
     INTEREST ON INVESTMENTS                        437          300
     INTEREST ON FEDERAL FUNDS SOLD                 105          165
                                                 ------       ------
                                                  2,568        2,326

INTEREST EXPENSE:
     INTEREST ON DEPOSITS                          1063          996
                                                 ------       ------
          NET INTEREST INCOME                     1,505        1,330

PROVISION FOR LOAN LOSSES                            23           23
                                                 ------       ------
          NET INTEREST INCOME AFTER
          PROVISION FOR LOAN LOSSES               1,482        1,307

OTHER INCOME:
     SERVICE FEES                                   136          298
     OTHER OPERATING INCOME                          39           22
                                                 ------       ------
         TOTAL OTHER INCOME                         175          320

OTHER EXPENSES:
      SALARIES AND BENEFITS                         486          442
      EXPENSE OF BANK PREMISES AND
        EQUIPMENT                                   123           97
      OTHER OPERATING EXPENSES                      285          280
                                                 ------       ------
         TOTAL OTHER EXPENSES                       894          819

INCOME BEFORE INCOME TAXES                          763          808
FEDERAL INCOME TAXES                                272          297
                                                 ------       ------
      NET INCOME                                 $  491       $  511
                                                 ------       ------
                                                 ------       ------
PER SHARE OF COMMON STOCK NET INCOME             $ 1.03       $ 1.07
                                                 ------       ------
                                                 ------       ------

</TABLE>

         SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.


<PAGE>

                      LOGAN COUNTY BANCSHARES, INC. AND SUBSIDIARIES
                    Consolidated Statement in Changes in Stockholders' Equity
                     For the Three Month Periods Ended March 31, 1999 and 1998
                                       (In Thousands)
                                    
<TABLE>
<CAPTION>

                                                                     Net Unrealized
                                                                     (losses) on
                                     Common              Retained    Available-for    Treasury
                                     Stock     Surplus   Earnings    Sale Securiti      Stock        Total
                                     ------    -------   --------    -------------    --------       -----
<S>                                  <C>       <C>       <C>         <C>              <C>            <C> 
   BALANCE - DECEMBER 31             
 1998                                $1,300    $2,408    $11,171            $  40      ($860)        $14,059
                                     
SW                                   
DIVIDENDS ON 478,000 SHARES          
         COMMON STOCK @ $0.43                               (206)                                       (206)
                                     
CHANGE IN NET UNREALIZED             
         HOLDING GAINS (LOSSES)      
         ON AVAILABLE FOR-SALE       
         SECURITIES                                                          (109)                      (109)
                                     
NET INCOME FOR THE THREE MONTHS                                    
         ENDED MARCH 31, 1999             0         0         491               0          0             491
                                     ------    ------    -------            -----      -----         -------
                                     $1,300    $2,408    $11,456             ($69)     ($860)        $14,235
                                     ------    ------    -------            -----      -----         -------
                                     ------    ------    -------            -----      -----         -------
BALANCE - DECEMBER 31                
         1997                        $1,300    $2,408    $10,126            $   9      ($860)        $12,983
                                     
DIVIDENDS ON 478,00 SHARES           
         COMMON STOCK @ $0.39                               (186)                                       (186)
                                     
CHANGE IN NET UNREALIZED             
         HOLDING GAINS (LOSSES)      
         ON AVAILABLE FOR-SALE       
         SECURITIES                                                            21                         21
                                     
NET INCOME FOR THE THREE MONTHS      
           ENDED MARCH 31, 1998           0         0        511                0          0           2,511
                                     ------    ------    -------            -----      -----         -------
                                     $1,300    $2,408    $10,451            $  30      ($860)         13,329
                                     ------    ------    -------            -----      -----         -------
                                     ------    ------    -------            -----      -----         -------

</TABLE>

           SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.


<PAGE>

                      LOGAN COUNTY BANCSHARES, INC. AND SUBSIDIARIES
                           CONSOLIDATED STATEMENT OF CASH FLOWS
                  FOR THE THREE MONTH PERIODS ENDED MARCH 31, 1999 AND 1998
     
<TABLE>
<CAPTION>
                                                                   1999                    1998
                                                                 --------                 -------
<S>                                                          <C>                       <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
     NET INCOME                                                   $   491                 $   511
     ADJUSTMENTS TO RECONCILE NET                                  
       INCOME TO NET CASH PROVIDED                                 
       BY OPERATING ACTIVITIES:                                    
         DEPRECIATION                                                  40                      40
         SECURITY AMORTIZATION AND                                 
           ACCREATION                                                  (1)                      0
         MARKET VALUE AMORTIZATION                                     (1)                     (1)
         PROVISION FOR LOAN LOSSES                                     23                      23
         (INCREASE) DECREASE IN OTHER                              
           ASSETS                                                    (235)                   (215)
         INCREASE (DECREASE) IN OTHER                              
           LIABILITIES                                                185                     160
                                                                 --------                 -------
     NET CASH PROVIDED BY OPERATING ACTIVITIES                        502                     518
                                                                   
  CASH FLOWS FROM INVESTING ACTIVITIES:                            
     PROCEEDS FROM SALE OF SECURITIES AVAILABLE FOR SALE            5,500                   1,000
     PROCEEDS FROM MATURITIES OF SECURITIES AVAILABLE FOR SALE      2,000                       0
     PROCEEDS FROM MATURITIES OF SECURITIES HELD TO MATURITY          500                   1,500
     PURCHASE OF SECURITIES AVAILABLE FOR SALE                    (10,956)                    (50)
     PURCHASE OF SECURITIES HELD TO MATURITY                            0                       0
     NET (INCREASE) DECREASE IN                                  
       FEDERAL FUNDS SOLD                                           1,630                  (8,220)
     NET (INCREASE) DECREASE IN LOANS                              (5,099)                 (2,103)
     PURCHASE OF BANK PREMISES                                   
       AND EQUIPMENT                                                 (564)                    (42)
                                                                 --------                 -------
     NET CASH PROVIDED BY INVESTING ACTIVITIES                     (6,989)                 (7,915)
                                                                 
  CASH FLOWS FROM FINANCING ACTIVITIES:                          
     NET INCREASE (DECREASE) IN                                  
       DEMAND DEPOSITS                                              3,781                   3,804
     NET INCREASE (DECREASE) IN                                  
       SAVINGS DEPOSITS                                             1,870                   1,343
     NET INCREASE (DECREASE) IN                                  
       TIME DEPOSITS                                                  171                   2,300
     DIVIDENDS PAID                                                  (206)                   (186)
                                                                 --------                 -------
     NET CASH PROVIDED BY FINANCING ACTIVITIES                      5,616                   7,261
                                                                 --------                 -------
  NET INCREASE (DECREASE) IN CASH AND                            
     CASH EQUIVALENTS                                                (871)                   (136)
                                                                
  CASH AND CASH EQUIVALENT AT                                   
     BEGINNING OF PERIOD                                            5,727                   5,267
                                                                 --------                 -------
  CASH AND CASH EQUIVALENT AT                                   
     END OF PERIOD                                               $  4,856                 $ 5,131
                                                                 --------                 -------

</TABLE>

         SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.

<PAGE>

                                  March 31, 1999

               LOGAN COUNTY BANCSHARES, INC. AND SUBSIDIARIES
                 Notes to Consolidated Financial Statements

1.  Financial Statements:
         The foregoing statements are unaudited; however, in the
    opinion of the Management, all adjustments (comprising of only
    normal recurring accruals) necessary for a fair presentation of
    the financial statements have been included.

2.  Basis of Consolidation: The Consolidated Statement of Condition  and  
    Consolidated Statement of Income of Logan County Bancshares, Inc. include
    the activity  of Logan Bank and  Trust Company, a wholly  owned subsidiary.

 .3  Year 2000 Assessment

         Management has initiated a Company-wide program to assess
    its data processing, information systems and customer service
    programs to ensure the Company's operating capabilities in the
    year 2000. Currently, the Company's subsidiary Bank, L B & T,
    uses EDS, a regional provider of financial institution data
    processing, as it's primary provider of computer services and
    data processing. EDS has certified it's hardware and software are
    Year 2000, and beyond, compliant.

         As required by Regulatory guidelines, the company has
    contracted with EDS to perform Y2K testing. This testing will
    include Data Processing, ATM's, Debit Cards, Financial and
    Communications Systems. The estimated cost for this testing is
    approximately $55,000. The Company has also contracted to have
    their computer hardware evaluated for Year 2000 compliance and
    estimates additional computer hardware and software costs to be
    approximately $105,000. These cost will be capitalized and
    amortized over five years. It is the opinion of management that
    the cost of converting these systems and the annual amortization,
    thereof, will not materially impact the results of operation or
    its financial position.

         We anticipate having all testing completed by June, 1999 and
    upgrading completed by August, 1999. There are many factors
    involved in upgrading these systems, such as: conversion of data,
    employee training and implementation. There can be no assurances
    this process will not have a material effect on the company's
    operations.

        While management believes its planning efforts are adequate
    to address its Year 2000 concerns, there is no guarantee the
    systems of other companies on which the Company's systems and
    operations rely will function properly and not have an adverse
    effect on the Company's operations or financial position.

<PAGE>


                  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
               FINANCIAL CONDITION AND RESULTS OF OPERATIONS



     The following is a discussion and analysis focused on significant
changes in the financial condition and results of operations of Logan
County Bancshares, Inc.

EARNINGS SUMMARY

     The Company reported net income of $491,000. For the three months ended 
March 31, 1999 compared to $511,000. for the three months ended March  31, 
1998, representing a 9.48% decrease. This decrease was primarily the result 
of the increase in net interest income of $175,000. decrease in other income 
of $145,000. and increase in all operating expenses of $75,000. and decrease 
in income taxes of $25,000.

     Earnings per common share were $1.03 for the three months ended
March 31, 1999 compared with $1.07 for the same period of 1998.

     Logan County Bancshares' annualized return on assets (ROA) for the
three month period ended March 31, 1999 was 1.35% compared to 1.57% for
the three month period ended March 31, 1998. Annualized return on
shareholders' equity (ROE) was 13.80% and 15.33% at March 31, 1999 and
1998, respectively.

NET INTEREST INCOME

     The most significant component of Logan County Bancshares' net
earnings is net interest income, which represents the excess of
interest income earned on earning assets over the interest expense paid
for sources of funds. Net interest income is affected by changes in
volume resulting from growth and alteration of the balance sheet
composition, as well as by fluctuations in market interest rates and
maturities of sources and uses of funds.

     Interest  income  amounted  to  $2,568,000. at  March  31,  1999,  an
increase  of  $242,000.  from  March  31,  1998.   Interest  expense  also
increased  $67,000., resulting  in an  overall increase  of $175,000.  or
13.16% in net interest income between March 31, 1999 and March 31, 1998.

PROVISION FOR LOAN LOSSES AND ASSET QUALITY

     The provision for loan losses represents charges to earnings
necessary to maintain an adequate allowance for potential future loan
losses. Management's determination of the appropriate level of the
allowance is based on an ongoing analysis of credit quality and loss
potential in the loan portfolio, actual loan loss experience relative
to the size and characteristics of the loan portfolio, change in the
composition and risk characteristics of the loan portfolio and the
anticipated influence of national and local economic conditions. The
adequacy of the allowance for loan losses is reviewed quarterly and
adjustments are made as considered necessary.

     For the three month period ended March 31, 1998 and 1997, the
provision for loan losses was $23,000.

he reserve for loan losses was $721,000. at March 31, 1999
compared to $692,000. at March 31, 1998. Expressed as a percentage of
loans (net of unearned income), the reserve for loan losses was .72% at
March 31, 1999 and .80% at March 31, 1998.


<PAGE>

         A summary of the Company's past due loans and nonperforming assets is
         provided in the following table.

                    SUMMARY OF PAST DUE LOANS AND NONPERFORMING ASSETS
                                 (in thousands of dollars)

<TABLE>
<CAPTION>

                           
                                                 March 31,
                                            ------------------------
                                            1999              1998
                                            -----             ----- 
        <S>                                 <C>                <C>
         Loans past due 90 or more days
            still accruing interest         $3,501            $1,433
                                            ------            ------
         Nonperforming assets:
            Nonaccruing loans                  459               572
            Other real estate owned            236               171
                                            ------            ------
                                            $  695            $  743
                                            ------            ------
                                            ------            ------

</TABLE>

NONINTEREST INCOME

     Noninterest income includes revenues from all sources other than
interest income. For the three month period ended March 31, 1999,
noninterest income totalled $175,000., representing a decrease of
$145,000., or 45.31% from the $320,000. recorded during the same period
of 1998. This decrease was primarily due to decreases in service fees
income of $162,000.

NONINTEREST EXPENSE

     Noninterest expense comprises overhead costs which are not related
to interest expense or to losses from loans or securities. As of March
31, 1999, the Company's noninterest expense totalled $894,000.,
increasing $75,000. over the $819,000. of noninterest expense for the
three months ended March 31, 1998. Expressed as a percentage of assets,
annualized noninterest expense was 2.46% at March 31, 1999, compared to
2.52% at March 31, 1998.

     Salaries and employee benefits are Logan County Bancshares'
largest noninterest cost, representing approximately 54% of total
noninterest expense at March 31, 1999 and 1998. Salaries and employee
benefits increased $44,000., or 9.95% at March 31, 1999 compared to
March 31, 1998. This increase is primarily due to increased personnel.

INCOME TAXES

     Logan County Bancshares' federal income tax expense, for the three
month period ended March 31, 1999, reflected a $25,000. increase when
compared to the same period of 1998. Income tax expense equalled 35.65%
and 36.76% of income before taxes at March 31, 1999 and 1998,
respectively. For financial reporting purposes, income tax expense does
not equal the statutory income tax rate of 43% when applied to pretax
income, primarily because of tax-exempt interest income included in
income before income taxes.


<PAGE>



Balance Sheet Data:

     Total assets grew by $6,100,000. between year end and March 31,
1999 to a balance of $145,378,000. The major component of this growth
was an increase in Investment Securities of $2,787,000., and loan
increases of 5,096,000. The primary source of funds for this growth was
an increase in deposits of $5,822,000., a decrease in Federal Funds
Sold of $1,630,000., and net income of $491,000.

Liquidity:

     Managing Logan's liquidity requirements primarily involves meeting
the loan demand, deposit withdrawal and the cash flow requirements.
Logan's primary sources of liquid assets are federal funds sold and
investment securities maturing in less than one year. These items can
be converted into funds in a short period of time. At March 31, 1999,
Federal Funds Sold amounted to $5,890,000. and securities maturing
within one year amounted to $3,460,000. These are compared to the
balances at March 31, 1998 of $17,130,000. in Federal Funds Sold and
maturing Investment Securities of $9,210,000. due within one year.

     Traditionally, banks have been able to manage liquidity based on a
relatively stable group of core deposits. The deposits, demand and
consumer deposits under $l00,000. are considered the most stable and
least expensive source of funds. During 1999 and 1998, banks continue
to be faced with more volatile, interest sensitive funds and have had
to match their funding requirements by using assets and liability
management techniques.

Capital Resources:

     Logan's capital position is based on its stockholders' equity and the 
primary source of such equity has been retained earnings. Since Logan's 
formation, it has accumulated Retained Earnings of $11,387,000. and has a 
total Stockholders' Equity of $14,235,000. as of March 31, 1999; as compared 
to $10,481,000. of Retained Earnings and total Stockholders' equity of 
$13,329,000. at March 31, 1998.

   The equity capital was 9.79% and 10.27% of total assets at March
31, 1999 and 1998 respectively. Logan County Bancshares exceeds all
regulatory capital guide lines and has not been advised by any
regulatory agency of any minimum capital requirement.

Effects of Inflation:

  The impact of inflation on a financial institution differs significantly 
from that exerted on an industrial concern, primarily because a financial 
institution's assets and liabilities consist almost entirely of monetary 
items. The low proportion of the Bank's net fixed assets to total assets 
reduces both the potential of inflated earnings resulting from understated 
depreciation charges and the potential significant understatement of asset 
values. However, inflation does have a considerable indirect impact on banks, 
including increased loan demand, as it becomes necessary for producers and 
consumers to acquire additional funds to maintain the same levels of 
consumption, inventories, and new investments. Inflation also frequently 
results in higher interest rates which can affect both yields on earning 
assets and rates paid on deposits and other interest-bearing liabilities.

<PAGE>




  PART II. - OTHER INFORMATION

     NONE.
     ----


          SIGNATURES

  Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.

          LOGAN COUNTY BANCSHARES, INC.
         -------------------------------------

            (Registrant)




 Date ____________________________ _____________________________________
           Harvey Oakley, President
             (Signature)




 Date ____________________________ _____________________________________
         Eddie D. Canterbury, Exec. Vice Pres.
             (Signature)