U.S. Securities and Exchange Commission
                   Washington, D.C.  20549
                              
                          Form 10-Q
                              
             For the Quarter Ended June 30, 1997
                              
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

[  ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
EXCHANGE ACT
     For the transition period from ___________________ to
__________________

               Commission file number 0-12724
                              
                      Belmont Bancorp.
                     An Ohio Corporation
             IRS Employer ID number - 34-1376776
                       325 Main Street
                   Bridgeport, Ohio  43912
                  Telephone (614) 695-3323
                             
Check whether the issuer (1) filed all reports required
to be filed by Section 13 or 15(d) of the Exchange Act
during the past 12 months, and (2) has been subject to such
filing requirements for the past 90 days.  Yes   X   No ___

The number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date:
                             
                Common Stock, $0.50 par value,
                2,637,498 shares outstanding
                    as of August 6, 1997

<PAGE>
                          FORM 10-Q
                      BELMONT BANCORP.
                 Quarter Ending June 30,1997
                              
                            INDEX
                              
Part I.  Financial information

Financial highlights

Management's report on financial statements

Consolidated Statements of Condition - June 30, 1997,
     December 31, 1996, and June 30, 1996

Consolidated Statements of Income-Three Months and
     Six Months Ended June 30, 1997 and June 30, 1996

Consolidated Statements of Cash Flows-Six Months
     Ended June 30, 1997 and June 30, 1996

Consolidated Statements of Changes in Shareholders' Equity
     Six Months Ended June 30, 1997 and Year Ended
     December 31, 1996

Notes to the Consolidated Financial Statements

Management's Discussion and Analysis of Financial Condition
and Results of Operations

Part II - Other Information

Legal Proceedings
Changes in Securities
Defaults upon Senior Securities
Submission of Matters to a Vote of Security Holders
Other Information
Signature page
<PAGE>

BELMONT BANCORP. AND                                  
SUBSIDIARIES
Financial Highlights                                  
                                                     
June 30                         1997         1996         % Change
                                                        
Earnings and dividends                                
($000's)
Net income                      $    2,985   $    2,574   16.0
Operating earnings (1)               3,664        3,339    9.7
Cash dividends declared on          
common stock                           719          592   21.5
Per common share (2):                                 
Net income                      $     1.13   $     0.96   17.7
Cash dividends declared              0.272        0.224   21.4
Book value                           11.14         9.15   21.7
Market price :                                        
  High                               25.20        22.40   12.5
  Low                                20.80        20.80    0.0
At quarter-end ($000's)                               
Assets                          $  384,599   $  352,937    9.0
Loans and leases                   205,116      176,857   16.0
Deposits                           261,717      256,624    2.0
Stockholders' equity                29,376       25,182   16.7
Key Ratios                                            
Return on average assets             1.67%        1.55%    
Return on average common         
shareholders' equity                21.30%       20.39%    
Net interest margin (TE)             4.47%        4.47%    
Number of shares                 2,637,498    2,641,998  (0.2)
                                             
Number of full time equivalent    
employees                            132.5        112.0   18.3
Total assets per FTE employee   $    2,903   $    3,151  (7.9)
                                                      
(1) Operating earnings are defined as earnings before
    income taxes minus securities and trading gains or plus
    securities and trading losses.                                 
(2) All per share amounts have been restated for the effect
    of a 25% common stock dividend paid on July 1, 1997.
<PAGE>

PART I - FINANCIAL INFORMATION

ITEM 1. - FINANCIAL STATEMENTS

MANAGEMENT'S REPORT ON FINANCIAL STATEMENTS

     The following consolidated financial statements and
related notes of Belmont Bancorp. and subsidiaries were
prepared by management which has the primary responsibility
for the integrity of the financial information.  The
statements are prepared in conformity with generally
accepted accounting principles appropriate in the
circumstances, and include amounts that are based on
management's best estimates and judgments.  Financial
information elsewhere in the quarterly report is prepared on
a basis consistent with that in the financial statements.

     In meeting its responsibility for the accuracy of the
financial statements, management relies on the Corporation's
comprehensive system of internal accounting controls.  This
system provides reasonable assurance that assets are
safeguarded and transactions are recorded to permit the
preparation of appropriate financial information.  The
system of internal controls is characterized by an effective
control oriented environment within the Corporation which is
augmented by written policies and procedures, internal
audits and the careful selection and training of qualified
personnel.

     The functioning of the accounting system and related
internal accounting controls is under the general oversight
of the Audit Committee of the Board of Directors which is
comprised of five outside directors.  The accounting system
and related controls are reviewed by a program of internal
audits and by the Corporations' independent accountants.
The Audit Committee meets regularly with the internal
auditor and the independent public accountants to review the
work of each and ensure that each group is properly
discharging its responsibilities.  In addition, the
Committee reviews and approves the scope and timing of the
internal and external audits and any findings with respect
to the system of internal controls.  Reports of examinations
conducted by federal regulatory agencies are also reviewed
by the Committee.

     The annual consolidated financial statements of Belmont
Bancorp. and subsidiaries will be examined by S.R. Snodgrass
A.C., the Corporation's independent certified public
accountants.  Their examination will be conducted in
accordance with generally accepted auditing standards and
will include a review of internal controls and a test of
transactions in sufficient detail to allow them to report on
the fair presentation of the consolidated operating results
and financial condition of Belmont Bancorp. and
subsidiaries.

BASIS OF PRESENTATION

     The consolidated financial statements include the
accounts of Belmont Bancorp. and its subsidiaries, Belmont
National Bank and Belmont Financial Network.
<PAGE>
Consolidated Condensed Balance                                   
Sheet (Unaudited)  ($000s except per share amounts)
                                    June 30,  Dec. 31   June 30,
                                      1997      1996      1996
ASSETS                                                           
                                                                 
    Cash and due from banks          $ 13,037 $ 10,948   $  9,740
    Federal funds sold                      -   24,450          -
    Securities available for sale                                
    at market value                   135,898   78,728    132,074
    Securities held to maturity (1)    17,584   19,299     21,151
    Loans                             205,116  188,783    176,857
    Less allowance for possible                                  
    loan losses                       (3,474)  (3,153)    (2,945)
          Net loans                   201,642  185,630    173,912
    Premises and equipment, net         7,256    7,260      6,039
    Other real estate owned                20       66        645 
    Accrued income receivable           2,678    1,921      2,527
    Other assets                        6,484    5,601      6,849  
          Total Assets               $384,599 $333,903   $352,937
                                                                 
LIABILITIES                                                      
                                                                 
    Non-interest bearing deposits                                
           Demand                    $ 29,581 $ 29,232   $ 27,581
     Interest-bearing deposits:                                  
           Demand                      38,075   40,569     37,429         
           Savings                     79,040   80,961     80,485         
           Time                       115,021  110,777    111,129        
           Total deposits             261,717  261,539    256,624     
    Securities sold under                                      
    repurchase agreements               7,569    8,280     15,535
    Short-term borrowings              67,193   10,000     35,148          
    Long term debt                     16,989   19,676     17,467       
    Accrued interest on deposits                               
    and other borrowings                  984      664        709
    Other liabilities                     771    6,412      2,272   
            Total liabilities        $355,223 $306,571   $327,755
                                                                 
SHAREHOLDERS' EQUITY                                             
                                                                 
Preferred stock -                                         
authorized 90,000 shares with
no par value; issued and                                  
outstanding, none                           -        -          -
Senior cumulative preferred                               
stock - authorized, issued and
outstanding, no shares at                               
June 30, 1997 and December 31,
1996; 10,000 shares of $100        
par value at June 30, 1996           $      0 $      0   $  1,000
Common stock  - $0.50 par                               
value, 8,900,000 shares
authorized; 2,115,476                                     
issued in 1997 and 1996                 1,057    1,057      1,057
Surplus                                 7,781    7,781      7,781      
Treasury stock ( 5,332                               
shares at June 30, 1997; 832
shares at December 31, 1996                                 
and June 30, 1996)                      (131)      (8)        (8)
Retained earnings:                                        
   Unappropriated                      19,817   17,820     16,090 
   Appropriated for                                    
   contingencies                          850      850        850
Common stock dividend to be                               
distributed (527,354 shares)              269        -          -
Net unrealized loss on                                    
securities available for sale           (267)    (168)    (1,588)
Total shareholders' equity           $ 29,376 $ 27,332   $ 25,182
Total liabilities and                
shareholders' equity                 $384,599 $333,903   $352,937
                                                                 
(1)  Market value at June 30, 1997, $17,599; December 31, 1996,
     $19,302; June 30, 1996, $20,737.
<PAGE>
Consolidated Condensed Statement of Income
(Unaudited) ($000s except per share amounts)

                                Three months ended June 30,
                                1997           1996
INTEREST INCOME                                    
                                                   
    Loans and lease financing                      
        Taxable                 $    4,661     $    3,899
        Tax-exempt                      93             83
    Investment securities:                         
        Taxable                      2,013          1,989              
        Tax-exempt                     348            321            
    Dividends                           70             38           
    Interest on fed funds                         
    sold                                 1              1
        Total interest income        7,186          6,331
              
INTEREST EXPENSE                                   
                                                   
      Deposits                       2,436          2,331
      Borrowings                     1,156            727
        Total interest                            
        expense                      3,592          3,058
        Net interest income          3,594          3,273
      Provision for possible                       
      loan losses                      250            105
         Net interest income                       
         after provision
         for possible loan                         
         losses                      3,344          3,168
                                                   
NON-INTEREST INCOME                                
                                                   
      Trust fees                       149            103
      Service charges on                           
      deposits                         175            159
      Other operating income           185            154
      Investment securities                        
      gains (losses)                   (1)              -
      Gains (losses) on                           
      securities available 
      for sale                         198              4
      Total non-interest                       
      income                           706            420
                                                   
NON-INTEREST EXPENSE                               
                                                   
      Salary and employee                          
      benefits                         845            794
      Net occupancy expense of                     
      premises                         194            170
      Equipment expenses               238            205             
      Other operating expenses         744            804            
        Total non-interest                       
        expense                      2,021          1,973
        Income before income                     
        taxes                        2,029          1,615
INCOME TAXES                           465            450
        Net income              $    1,564     $    1,165
                                                   
PER COMMON SHARE DATA                              
                                                   
        Net income per share    $     0.59     $     0.43
        Cash dividend per       
        share                   $    0.136     $    0.120
        Weighted average                           
        shares outstanding       2,639,377      2,641,998
<PAGE>                                                 
Consolidated Condensed Statement of Income
(Unaudited)  ($000s except per share amounts)

                               For the Six Mpnths Ended June 30,
                               1997            1996
INTEREST INCOME                                          
                                                         
    Loans and lease financing                            
        Taxable                 $    9,015     $    7,568
        Tax-exempt                     182            161                   
                                      
    Investment securities:                               
        Taxable                      3,716          4,028                     
        Tax-exempt                     624            642                   
        Dividends                      124             75                  
        Interest on fed funds                          
        sold                            53              7           
        Total interest income       13,714         12,481                 
                                         
INTEREST EXPENSE                                         
                                                         
      Deposits                       4,880          4,613                    
      Borrowings                     1,763          1,294                     
      Total interest                                  
      expense                        6,643          5,907
      Net interest income            7,071          6,574
      Provision for possible                             
      loan losses                      355            255
      Net interest income                             
      after provision
      for possible loan                               
      losses                         6,716          6,319
                                                         
NON-INTEREST INCOME                                      
                                                         
      Trust fees                       227            263
      Service charges on                                 
      deposits                         346            315
      Other operating income           382            308
      Investment securities                              
      gains (losses)                   (2)            (1)
      Gains (losses) on                                  
      securities available 
      for sale                         354            234
          Total non-interest                             
          income                     1,307          1,119
                                                         
NON-INTEREST EXPENSE                                     
                                                         
      Salary and employee                                
      benefits                       1,680          1,620
      Net occupancy expense of                           
      premises                         384            340
      Equipment expenses               467            387
      Other operating expenses       1,476          1,519
      Total non-interest                             
      expense                        4,007          3,866
          Income before income                           
          taxes                      4,016          3,572
INCOME TAXES                         1,031            998
           Net income           $    2,985     $    2,574
                                                         
PER COMMON SHARE DATA                                    
                                                         
        Net income per share    $     1.13     $     0.96
        Cash dividend per           
        share                   $    0.272     $    0.224
        Weighted average                                 
        shares outstanding       2,640,680      2,641,998
<PAGE>
CONSOLIDATED STATEMENT OF CASH FLOWS                        
Six Months Ended June 30                                    
(Unaudited)                                                 
                                                           
                                             1997         1996
Operating Activities                                        
                                                           
Net income                                    $2,985     $2,574
                                                           
Adjustments to reconcile net income to                      
net cash flows provided by operating                           
activities:
Provision for possible loan losses               355        255
Depreciation and amortization expense            411        314
Amortization of investment security                         
     premiums                                    594        776
Accretion of investment security                           
  discounts and interest recorded on zero-coupon         
  securities                                    (122)      (184)
Investment securities (gains) losses               2          1
(Gains) losses on securities available                  
  for sale                                      (354)      (234)
Loss (gain)  on sale of fixed assets               0          1
Gain on sale of loans                            (30)       (31)
Gain on sale of other real estate owned           (7)         0
(Increase) decrease in interest                 
  receivable                                    (757)      (377)
Increase (decrease) in interest payable          320         48
Others, net                                   (6,473)     1,473
   Net cash provided (used) by operating             
   activities                                 (3,076)     4,616
                                                            
Investing Activities:
Net decrease in federal funds sold            24,450          0
Proceeds from sales of investment            
  securities                                       0        551
Proceeds on sale of securities available     
  for sale                                    25,319     43,998
Proceeds from maturities and calls of        
  investment securities                        2,833      1,108
Purchases of investment securities                 0          0
Purchase of securities available for        
  sale                                       (91,300)   (78,697)
Principal collected on mortgage-backed                      
   securities                                  7,422     12,377
Net (increase) decrease in loans and                        
  leases, net of charge offs                (22,971)    (21,756)
Proceeds on sale of loans                      6,603      4,774
Recoveries on loans previously charged off        10         33
Proceeds from sale of other real estate          
  owned                                           73           0
Purchases of premises and equipment             (425)     (1,269)
Proceeds on sale of fixed assets                  20          5
   Net cash provided (used) by investing                
   activities                                (47,966)    (38,876)
<PAGE>                                                           
Financing Activities:                                        
Net increase (decrease) in deposits              178       9,774
Net increase (decrease) in repurchase         
  agreements                                    (711)        996
Net increase (decrease) in short-term        
  borrowings                                  57,193      11,022
Proceeds on long-term debt                         0      12,725
Payments on long-term debt                    (2,687)        (60)
Purchase of treasury stock                      (123)          0
Dividends paid on common and preferred        
  stock                                         (719)       (632)
   Net cash provided (used) by financing                
   activities                                 53,131      33,825
                                                           
                                                            
Increase (Decrease) in Cash and Cash                       
  Equivalents                                   2,089      (435)
Cash and Equivalents at Beginning of          
  Year                                         10,948     10,175
Cash and Equivalents at June 30               $13,037     $9,740





Belmont Bancorp. and Subsidiaries
Consolidated Statements of Shareholders' Equity For the Year
Ended December 31, 1996 and Six Months Ended June 30, 1997 ($000s)
<TABLE>
<CAPTION>
                                                              Retained Earnings               
                                                                                             Unrealized
                                                                                             Loss of 
                                Preferred  Common            Unappro-     Appro-    Treasury Available
                                Stock      Stock    Surplus  priated (1)  priated   Stock    for Sale

<S>                             <C>        <C>      <C>      <C>          <C>       <C>      <C>
Balance, December 31, 1995      $  1,000   $1,057   $7,781   $14,148      $850      ($8)     $336
                                  
1996 Net income                                                5,002                      
  Cash dividends declared:                                                 
     Preferred stock                                            (61)                      
     Common stock ($.480 per                               
     share)                                                  (1,269)                      
Redemption of preferred stock    (1,000)                                      
Change in unrealized loss-                                                 
securities available-for-                                                                   
sale                                                                                        (504)
Balance, December 31, 1996      $      0   $1,057   $7,781   $17,820      $850      ($8)   ($168)
1997 YTD Net income                                            2,985                      
Cash dividends declared:                                                   
Common stock ($.272 per share)                                 (719)
Purchase of treasury stock                                                         (123)      
Change in unrealized loss-
securities available-for-
sale                                                                                         (99)
Balance, June 30, 1997          $      0   $1,057   $7,781   $20,086      $850    ($131)   ($267)
                                       
(1) Unappropriated retained earnings includes $269,000 for
    a 25% common stock dividend paid on July 1, 1997.                    
</TABLE>
<PAGE>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

     The foregoing financial statements are unaudited,
however, in the opinion of Management, all adjustments
necessary for a fair presentation of the financial
statements have been included. A summary of the
Corporation's significant accounting policies is set forth
in Note 1 to the Consolidated Financial Statements in the
Corporation's Annual Report on Form 10-K for 1996.

     Related party transactions - The Corporation's and it
Subsidiaries' directors and officers and their associates
were customers of, and had other transactions with, the
subsidiary bank in the ordinary course of business during
1997.  All loans and commitments included in such
transactions were made on substantially the same terms,
including interest rates and collateral, as those prevailing
at the time for comparable transactions with other persons
and did not involve more than the normal risk of
collectibility.

     Per share data has been restated in previous periods
for a 25% common stock dividend paid on
July 1, 1997.
<PAGE>
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS

SUMMARY

     The net income of Belmont Bancorp. for the second
quarter of 1997 increased 34.2% to $1,564,000, compared to
$1,165,000 in the second quarter of 1996.  Earnings per
common share increased to $0.59 in the second quarter of
1997, compared to $0.43 in the second quarter of 1996.

     For the six months ended June 30, 1997, net income
increased 16.0% to $2,985,000, compared to $2,574,000 for
the first six months of 1996.  Earnings per common share
were $1.13 for the first six months of 1997, compared to
$0.96 for the corresponding period last year, an increase of
17.7%.

     Operating earnings increased to $3,664,000 for the six
months ended June 30, 1997, up 9.7% from $3,339,000 for the
same period last year.  For the second quarter of 1997,
operating earnings were $1,832,000, up 13.7% from $1,611,000
during the year ago quarter.

     The following table presents the return on average
shareholders' equity and the return on average assets for
comparative periods of 1997 and 1996.

                         Quarter ended     Six Months emded
                            June 30,          June 30,
($000s)                  1997      1996      1997     1996
                                                          
Return on average         
assets                    1.67%     1.37%     1.67%      1.55%
Return on                
shareholders' equity     22.16%    18.03%    21.30%     19.91%
Return on average        
common equity            22.16%    18.43%    21.30%     20.39%
                                                         
Average assets         $374,644  $340,945  $356,980   $331,971
Average shareholders'  
equity                 $ 28,233  $ 25,848  $ 28,032   $ 25,853

Average assets increased $25.0 million during the six
months ended June 30, 1997 compared to the same period
during 1996.  Average shareholders' equity increased $2.2
million for the same period.

NET INTEREST INCOME

     A major share of the Corporation's income results from
the spread between income on earning assets and interest
expense on the liabilities used to fund those assets.   Net
interest income is affected by changes in interest rates and
the amounts and distributions of interest earning assets and
interest bearing liabilities outstanding.  Net interest
margin is net interest income divided by the average earning
assets outstanding.  A third frequently used measure is net
interest rate spread which is the difference between the
average rate earned on assets and the average rate paid on
liabilities without regard to the amounts outstanding in
either category.

     Tables 1 and 3, Consolidated Average Balance Sheets and
Analysis of Net Interest Income, compares interest revenue
and interest earning assets outstanding with interest cost
and liabilities outstanding for the six months and three
months ended June 30, 1997, 1996, and 1995.  The tables
contain net interest income, net interest margin and net
interest rate spread for each period.  All three of these
measures are reported on a taxable equivalent basis.

     The taxable equivalent yield on interest earning assets
increased from 8.28% during the first six months of 1996 to
8.46% in 1997, an increase of 18 basis points.  (A basis
point (bp) is equivalent to .01%.)   The cost of interest
bearing liabilities increased 21 basis points from 4.29%
during the first half of 1996 to 4.50% in 1997.  The net
interest margin (net interest income divided by interest
earning assets)  was 4.47% during both the first half of
1997 and 1996.

     The taxable equivalent yield on interest earning assets
increased from 8.11% during the second quarter of 1996 to
8.39% in 1997, an increase of 28 basis points. The cost of
interest bearing liabilities rose 28 basis points from 4.29%
during the second quarter of 1996 to 4.57% in 1997.  The net
interest margin increased only slightly from 4.30% to 4.31%.

     Tables 2 and 4, Analysis of Net Interest Income
Changes, separates the dollar change in the Corporation's
net interest income into three components:  changes caused
by (1) an increase or decrease in the average asset and
liability balances outstanding (volume); (2) the changes in
average yields on interest earning assets and average rates
for interest bearing liabilities (yield/rate); and (3)
combined volume and yield/rate effects (mix).
<PAGE>
<TABLE>
<CAPTION>
TABLE 1. - CONSOLIDATED AVERAGE BALANCE SHEETS AND ANALYSIS OF NET
           INTEREST INCOME (Fully Taxable Equivalent Basis) ($000's)
                                                                           
                                                    Six Months Ended June 30,
                                   1997                         1996                       1995
                        Average            Average  Average            Average  Average             Average
                        Out-       Revenue/ Yield/  Out-       Revenue/ Yield/  Out-       Revenue/ Yield/
                        standing   Cost     Rate    standing   Cost     Rate    standing   Cost     Rate
<S>                     <C>        <C>      <C>     <C>        <C>      <C>     <C>        <C>      <C>
Assets                                                                     
Interest earning                                                           
assets:
  Loans and leases      $198,140   $9,283   9.45%   $167,058   $7,805   9.42%   $148,816   $6,986   9.47%
  Securities:                                                               
    Taxable              111,257    3,837   6.95%    121,107    4,101   6.83%    116,259    4,012   6.96%
    Exempt from           
    income tax            24,157      906   7.56%     24,044      924   7.75%     24,842    1,004   8.15%                      
  Federal funds            
  sold                     2,036       53   5.25%        270        7   5.23%      1,002       30   6.04%
Total interest           
earning assets           335,590   14,079   8.46%    312,479   12,837   8.28%    290,919   12,032   8.34%                 
Cash and due from          
banks                      9,954                       8,758                       8,348            
Other assets              15,710                      13,683                      12,984            
Valuation                                           
allowance-
available for
sale securities          (1,013)                       (138)                     (1,224)            
Allowance for            
possible loan loss       (3,261)                     (2,811)                     (1,865)                             
Total assets             356,980                     331,971                     309,162            
                                         
Liabilities                                                                
Interest bearing                                                           
liabilities:
  Interest                
  checking                43,319      729   3.39%     35,393      532   3.03%     25,545      297   2.34%                  
  Savings                 79,263    1,202   3.06%     78,986    1,191   3.04%     79,085    1,172   2.99%
  Other time            
  deposits               112,987    2,949   5.26%    114,016    2,890   5.11%    126,676    3,118   4.96%                  
  Other Borrowings        62,335    1,763   5.70%     49,081    1,294   5.32%     29,498      807   5.52%
Total interest          
bearing                                 
liabilities              297,904    6,643   4.50%    277,476    5,907   4.29%    260,804    5,394   4.17%
Demand deposits           28,883                      26,419                      25,024            
Other liabilities          2,161                       2,223                       1,705            
Total liabilities        328,948                     306,118                     287,533            
Shareholders'             
equity                    28,032                      25,853                      21,629                              
   Liabilities &         
   shareholders'           
   equity                356,980                     331,971                     309,162            
Net interest                                                               
income
Margin on a                        
taxable equiv-                                                                       
alent basis                         7,436   4.47%               6,930   4.47%               6,638   4.60%
Net interest rate                          
spread                                      3.96%                       3.99%                       4.17%             
Interest bearing                                                           
liabilities
to interest                               
earning assets                             88.77%                      88.80%                      89.65%
</TABLE>
<PAGE>
TABLE 2. - ANALYSIS OF NET INTEREST INCOME CHANGES
           (Taxable Equivalent Basis) ($000's)
                                                                            
                                 Six Months Ended June 30,
                     1997 Compared to 1996        1996 Compared to 1995
                     Volume  Yield   Mix  Total   Volume  Yield   Mix    Total
Increase (Decrease)                                                         
in Interest Income
  Loans and Leases   1,452     22      4  1,478     856    (33)    (4)     819
  Securities:                                                                
    Taxable          (334)     76    (7)  (265)     167    (75)    (3)      89
    Exempt from                                                             
    Income Taxes         4   (22)      -   (18)    (32)    (49)      2    (79)
  Federal Funds Sold    46      -      -     46    (22)     (4)      3    (23)
                       
Total Interest                                                              
Income Change        1,168     76    (3)  1,241     969   (161)    (2)     806
 Increase (Decrease)                                                        
 in Interest Expense:
  Interest Checking    119     64     14    197     114      87     33     234
  Savings                4      7      -     11     (1)      20      -      19
  Other Time                                                                  
  Deposits            (26)     86    (1)     59   (312)      93    (9)   (228)
  Short Term                                                                
  Borrowings           349     94     26    469     536    (29)   (19)     488
Total Interest                                                              
Expense Change         446    251     39    736     337     171      5     513
Increase (Decrease)                                                         
in Net Interest
Income on a Taxable                                                         
Equivalent Basis       722  (175)   (42)    505     632   (332)    (7)     293
(Increase) Decrease                                                        
in Taxable
Equivalent
Adjustment                                  (8)                             14
Net Interest Income                                                         
Change                                      497                            307
<PAGE>
<TABLE>
<CAPTION>
TABLE 3. - CONSOLIDATED AVERAGE BALANCE SHEETS AND ANALYSIS OF NET
           INTEREST INCOME (Fully Taxable Equivalent Basis) ($000's)
                                                                       
                                                  Three Months Ended June 30,
                                1997                        1996                       1995     
                     Average             Average Average             Average Average             Average
                     Out-       Revenue/ Yield/  Out-       Revenue/ Yield/  Out-       Revenue/ Yield/
                     standing   Cost     Rate    standing   Cost     Rate    standing   Cost     Rate
<S>                  <C>        <C>      <C>     <C>        <C>      <C>     <C>        <C>      <C>
Assets                                                                 
Interest earning                                                       
assets:
  Loans and
  leases             $203,096   $4,799   9.48%   $172,681   $4,022   9.34%   $150,618   $3,531   9.40%  
  Securities:                                                           
    Taxable           122,944    2,083   6.80%    124,849    2,027   6.51%    110,091    1,913   6.97%
    Exempt from   
    income tax         27,104      503   7.44%     24,221      458   7.58%     24,507      489   8.00%      
  Federal funds     
  sold                     70        1   5.73%         72        1   5.57%        813       13   6.41%
Total interest       
earning assets        353,214    7,386   8.39%    321,823    6,508   8.11%    286,029    5,946   8.34%
Cash and due from       
banks                   9,883                       8,852                       8,224           
Other assets           16,325                      14,056                      12,802           
Valuation                                                              
allowance-
available
for sale       
securities            (1,448)                       (903)                       (579)               
Allowance for                    
possible loan         
loss                  (3,330)                     (2,883)                     (2,041)
Total assets          374,644                     340,945                     304,435           
                    
Liabilities                                                            
Interest bearing                                                       
liabilities:
  Interest        
  checking             40,440      337   3.34%     37,557      290   3.10%     26,020      153   2.36%
  Savings              79,092      605   3.07%     79,653      603   3.04%     77,967      582   2.99%
  Other time          
  deposits            114,102    1,494   5.25%    113,583    1,438   5.08%    127,960    1,604   5.03%
  Other               
  Borrowings           81,361    1,156   5.70%     54,919      727   5.31%     23,490      309   5.28% 
Total interest        
bearing            
liabilities           314,995    3,592   4.57%    285,712    3,058   4.29%    255,437    2,648   4.16%
Demand deposits        29,227                      27,018                      24,775           
Other liabilities       2,189                       2,367                       1,818           
Total liabilities     346,411                     315,097                     282,030           
                    
Shareholders'          
equity                 28,233                      25,848                      22,405           
   Liabilities &  
   shareholders'       
   equity             374,644                     340,945                     304,435           
Net interest                                                           
income
Margin on a         
taxable                                                     
equivalent basis                 3,794   4.31%               3,450   4.30%               3,298   4.62%
Net interest rate    
spread                                   3.81%                       3.82%                       4.18%
Interest bearing                                                       
liabilities
to interest            
earning assets                          89.18%                      88.78%                      89.30%         
</TABLE>
<PAGE>
TABLE 4. - ANALYSIS OF NET INTEREST INCOME CHANGES
(Taxable Equivalent Basis) ($000's)
                                                                            
                                     Three Months Ended June 30,
                           1997 Compared to 1996          1996 Compared to 1995
                        Volume  Yield  Mix    Total    Volume Yield  Mix  Total
Increase (Decrease)                                                         
in Interest Income
  Loans and Leases       708     58      10    776       517  (23)    (3)   491
  Securities:                                                                
    Taxable             (31)     88     (1)     56       256 (126)   (17)   113
    Exempt from                                                             
    Income Taxes          55    (9)     (1)     45       (6)  (26)      -  (32)
  Federal Funds Sold       -      -       -      -      (12)   (2)      2  (12)
Total Interest                                                              
Income Change            732    137       8    877       755 (177)   (18)   560
 Increase (Decrease)                                                        
 in Interest Expense:
  Interest Checking       22     23       2     47        68    48     21   137
  Savings                (4)      6       -      2        13     8      -    21
  Other Time                                                                
  Deposits                 7     49       -     56     (180)    16    (2) (166)
  Short Term                                                                
  Borrowings             350     53      25    428       413     2      3   418
Total Interest                                                              
Expense Change           375    131      27    533       314    74     22   410
Increase (Decrease)                                                         
in Net Interest
Income on a Taxable                                                         
Equivalent Basis         357      6    (19)    344       441 (251)   (40)   150
(Increase) Decrease                                                        
in Taxable
Equivalent
Adjustment                                    (23)                            8
Net Interest Income                                                         
Change                                         321                          158
                                                                            
OTHER OPERATING INCOME

     Other operating income, excluding securities gains and
losses, increased 7.8%, or $69,000, and totaled $955,000 for
the first six months of 1997, compared to $886,000 for the
respective period last year.  Other income was improved due
to commission income generated by foreign transactions on
the Bank's ATM network, brokerage fees, and rent income on
leased facilities.  Changes in various categories of other
income are depicted in the table below.

                       Three months ended June 30, Six Months ended June 30,
($000s)                1997   1996  % Change       1997    1996     % Change
                        
Trust fees             $149   $103    44.7%        $  227  $  263    -13.7%
Service charges on     
deposits                175    159    10.1%           346     315      9.8%
Gain on sale of         
loans                    24     15    60.0%            30      31     -3.2%
Other income            161    139    15.8%           352     277     27.1%
     Subtotal           509    416    22.4%           955     886      7.8%
Security gains          
(losses)                (1)      0       na           (2)     (1)   -100.0%
Gains (losses)                                                 
securities held
for sale                198      4  4850.0%           354     234     51.3%
     Total             $706   $420    68.1%        $1,307  $1,119     16.8%

INVESTMENT SECURITIES

     The amortized cost and estimated market values of
securities held to maturity at June 30, 1997 are as follows:

                                             Gross      Gross       Estimated
                              Amortized      Unrealized Unrealized  Market
($000s)                       Cost           Gains      Losses      Value
U.S. Treasury securities                                       
and obligations of
U.S. Government              
corporations and agencies     $ 2,262        $  0       $ 87        $ 2,175
Obligations of states and      
political subdivisions          4,700         120         23          4,797
Mortgage-backed securities     10,622          83         78         10,627
     Total                    $17,584        $203       $188        $17,599
                                                               
Included above in U.S. Government corporations and
agencies is a structured note with a book value of
$2,262,000 and a market value of $2,175,000 which matures in
the year 2000.

     The amortized cost and estimated market values of
securities available for sale at June 30, 1997 are as
follows:

                                           Gross      Gross       Estimated
                             Amortized     Unrealized Unrealized  Market
($000s)                      Cost          Gains      Losses      Value
U.S. Treasury securities                                 
and obligations of
U.S. Government             
corporations and agencies    $ 20,246      $ 28       $103        $ 20,171
Obligations of states and      
political subdivisions         22,127       113         94          22,146
Mortgage-backed securities     71,287       279        401          71,165
Mortgage derivatives           18,164         2        229          17,937
Marketable equity                                                   
securities                      4,479         0          0           4,479
     Total                   $136,303      $422       $827        $135,898
                                                           
The mortgage derivatives are comprised solely of
collateralized mortgage obligations (CMOs) including one
principal only CMO issued by FNMA with a book value of
$105,000 and an estimated market value of $78,000.
Privately issued CMOs included in the table above have a
book value of $1,574,000 and an estimated market value of
$1,514,000.  Credit risk on privately issued CMOs is
evaluated based upon independent rating agencies and on the
underlying collateral of the obligation.  No privately
issued bonds from any issuer exceeded ten percent of
shareholders' equity.

     Market factors and prepayment speeds can have an impact
on the yield and average lives of mortgage-backed securities
including mortgage derivatives.

OPERATING EXPENSES

     Successful expense control is an essential element in
maintaining the Corporation's profitability.  Historically,
when comparing the Corporation to various peer groups, the
overhead costs of the Corporation have been significantly
lower than peer.  The following table shows the dollar
amounts and growth in various components of operating
expenses.

                    Three Months Ended June 30, Six Months Ended June 30,
($000s)             1997     1996     % Change  1997     1996     % Change
       
Salaries and        
wages               $  638   $  588    8.5%     $1,263   $1,202    5.1%
Employee benefits      207      206    0.5%        417      418   -0.2%
Net occupancy         
expense                194      170   14.1%        384      340   12.9%
Equipment expense      238      205   16.1%        467      387   20.7%
Other operating      
expenses               744      804   -7.5%      1,476    1,519   -2.8%
     Total          $2,021   $1,973    2.4%     $4,007   $3,866    3.6%

Increases in employee related costs as well as
occupancy and equipment expenses during the quarter and year-
to-date comparative periods are due to the opening of new
offices in the Elm Grove section of Wheeling, WV and at
Plaza West in St. Clairsville, Ohio.  In addition, the Bank
accelerated depreciation on some data processing equipment
beginning in September of 1996 which contributed to the
increase in equipment expense.  Other operating expenses
were positively impacted by the a reduction in FDIC
insurance premiums during six month period which fell by
$52,000 and a nonrecurring expense for other real estate
owned during 1996 of $140,000.  These reductions were
partially offset by an increase in corporate state net
income and franchise taxes, corporate development expense
and telecommunication charges.

PROVISION AND ALLOWANCE FOR POSSIBLE LOAN LOSSES

     The Corporation provides as an expense an amount which
reflects expected loan losses.  This provision is based on
the growth of the loan and lease portfolio and on historical
loss experience.  The expense is called the provision for
possible loan losses in the Consolidated Statement of
Income.  Actual losses on loans and leases are charged
against the allowance built up on the Consolidated Balance
Sheet through the allowance for possible loan losses.  The
amount of loans and leases actually removed as assets from
the Consolidated Balance Sheets is referred to as charge-
offs and, after netting out recoveries previously charged-
off assets, becomes net charge-offs.

     For the first half of 1997, $355,000 was added to the
allowance and charged to expense compared to $255,000 in
1996.  At June 30, 1997, the allowance for possible loan
losses to total loans and leases was 1.69% compared to 1.67%
last year.  The ratio of the Allowance for Possible Loan
Losses to underperforming assets increased to 514.67% at
June 30, 1997.  The following table details the Allowance
for Possible Loan Losses and also includes various loan
charge off statistics for 1997 and 1996.

Allowance for Possible Loan Losses

                                Three Months Ended     Six Months Ended
                                   June 30,                June 30,
($000s)                         1997     1996          1997      1996
Balance, beginning of period    $3,263   $2,853        $3,153    $2,703
Provision for possible loan       
losses                             250      105           355       255
Loans charged-off                   35       41            44        46
Recoveries on loans               
previously charged-off             (4)       28            10        33
     Net charge offs                39       13            34        13
                                                             
Balance, end of period          $3,474   $2,945        $3,474    $2,945
                                              
                              Three Months ended      Six Months ended
                                   June 30,               June 30,
($000s)                       1997        1996        1997       1996
                                                             
Loans and leases outstanding  
at period                     $205,116    $176,857    $205,116   $176,857      
Average loans and leases      $203,096    $172,681    $198,140   $167,058
Annualized net charge offs                                   
as a percent of:
   Average loans and leases      0.08%       0.03%       0.03%      0.02%
   Total loans at end of         
   period                        0.08%       0.03%       0.03%      0.01%
   Reserve for possible loan     
   losses                        4.49%       1.77%       1.96%      0.88%
Reserve for possible loan                                    
losses to:
   Average loans and leases      1.71%       1.71%       1.75%      1.76%
   Total loans at end of                                
   period                                                1.69%      1.67%
   Under-performing assets                             514.67%    312.96%

UNDER-PERFORMING ASSETS

     Under-performing assets consist of (1) non-accrual
loans, leases and debt securities on which the ultimate
collectibility of the full amount of interest is uncertain,
(2) loans and leases past due ninety days or more as to
principal or interest and (3) other real estate owned.  A
summary of under-performing assets at June 30 follows:

($000s)                             1997     1996
Non-accrual loans and              
leases                              $443     $106
Ninety days past due loans                     
and leases still accruing
interest                             211      190
Other real estate owned               21      645
     Total                          $675     $941
                                               
Restructured loans and                         
leases included
in above totals                     $537     $ 0
Restructured loans and                         
leases in compliance with                
modified terms                        65     108

     Asset quality remained high since the year ago period.
Total under-performing assets were $675,000 at June 30, 1997
compared to $941,000 at June 30, 1996.

LONG TERM DEBT

     Long term debt consists of advances from the Federal
Home Loan Bank.  Details are as follows:

                        Amount    Current
Type                    ($000s)   Rate   Maturity

Fixed rate, non-               
amortizing advance      10,000    5.40%    1/4/98
Fixed rate, non-               
amortizing advance       2,000    5.90%    6/2/98
Fixed rate, amortizing        
advance                    156    5.55%  12/22/98
Fixed rate, amortizing        
advance                  2,156    6.05%  11/18/01         
Fixed rate, amortizing        
advance                    163    5.80%   12/1/05
Fixed rate, amortizing         
advance                  1,297    6.85%    6/6/11
Fixed rate, amortizing         
advance                    114    6.75%    6/6/11
Fixed rate, amortizing         
advance                    845    6.85%   6/12/11          
Fixed rate, amortizing         
advance                    258    6.95%   8/31/15         
                       $16,989              
                        
STOCK REPURCHASE

     In accordance with a plan approved by the Board of
Directors and previously announced in March 1996, the
Company repurchased 4,500 shares of its common stock.  The
cost of the purchases was $124,500.   The plan approved by
the Board of Directors permits the Company to repurchase up
to $1,000,000 of Belmont Bancorp. common stock on the open
market or in separately negotiated transactions.

CAPITAL RESOURCES

     At June 30, 1997, shareholders' equity was $29,376,000
compared to $27,332,000 at December 31, 1996 and $25,182,000
at June 30, 1996.  The following table presents various
capital ratios as of June 30:

June 30,                       1997     1996
Average shareholder's                     
equity to :
  Average assets                7.9%     7.8%
  Average deposits             10.6%    10.1%
  Average loans and           
  leases                       14.1%    15.5%
Primary capital                 8.5%     8.0%
Risk-based capital                        
ratio:
   Tier 1                      12.1%    12.2%
   Total                       13.4%    13.4%
Leverage ratio                  7.5%     7.2%

     The Federal Reserve Board has adopted risk-based
capital guidelines that assign risk weightings to assets and
off-balance sheet items.  The guidelines also define and set
minimum capital requirements (risk-based capital ratios).
Banks are required to have core capital (Tier 1) of at least
4.0% or risk-weighted assets and total capital of 8.0% or
risk-weighted assets.  Tier  1 capital consists principally
of shareholders' equity less goodwill, while total capital
consists of core capital, certain debt instruments and a
portion of the reserve for possible loan losses.  At June
30, 1997, the Corporation had a Tier 1 capital ratio of
12.1% and a total capital ratio of 13.4%, well above
regulatory minimum requirements.

     National banks are required to maintain Tier 1 capital
in an amount equal to at least 3.0% of adjusted total
assets, referred to as a total assets leverage ratio.  At
June 30, 1997, the Corporation's leverage ratio was 7.5%.

PART II - OTHER INFORMATION

Item 1.  Legal proceedings

None

Item 2.  Changes in securities

None

Item 3.  Defaults upon senior securities

None

Item 4.  Submission of matters to a vote of security
         shareholders

None

Item 5.  Other information

None

Item 6.  Exhibits

None

SIGNATURE

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

                         Belmont Bancorp.
                         (Registrant)


August 13, 1997          s/ J. Vincent Ciroli, Jr.
                         J. Vincent Ciroli, Jr.
                         President & CEO