FORM 10-Q QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
                   OF THE SECURITIES AND EXCHANGE ACT OF 1934

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

[X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities  Exchange
Act of 1934.

For the period ended   March 31, 1998
                    
Commission File Number: 0-5893

                             American Bancorporation
             (Exact name of registrant as specified in its charter)

         Ohio                                         31-0724349
(State or other jurisdiction of                    (I.R.S. Employer
incorporation or organization)                    Identification No.)

1025 Main Street, Suite 800, Wheeling, WV                26003
(Address of principal executive offices)               (Zip Code)

                                 (304) 233-5006
              (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

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

        April 6, 1998: 3,129,674 shares of Common stock without par value


                    Number of pages comprising this report. . . . . . . . . 13

                                        1

<PAGE>


AMERICAN BANCORPORATION FORM 10-Q Quarterly Report
March 31, 1998





TABLE OF CONTENTS

Part I       FINANCIAL INFORMATION
Item  1      Financial Statements
                 Condensed Consolidated Balance Sheet...................      3
                 Condensed Consolidated Statement of Income.............      4
                 Condensed Consolidated Statement of
                           Cash Flows..................................       5
                 Condensed Consolidated Statement of
                           Changes in Stockholders' Equity.............       6
             Notes to the Financial Statements.........................       6
Item 2       Management's Discussion and Analysis of Financial
                  Condition and Results of Operations..................       8
Item 3       Quantitative and Qualitative Disclosures about Market Risk..     12


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 Holders.......................None
Item  5          Other Information..........................................None
Item  6          Exhibits and Reports on Form 8-K...........................None

SIGNATURES                                                                    13







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AMERICAN BANCORPORATION FORM 10-Q Quarterly Report
March 31, 1998

<TABLE>
<CAPTION>

                    American Bancorporation and Subsidiaries

CONSOLIDATED BALANCE SHEET

                                                           March 31,            December 31,
                                                    1998            1997            1997
                                                --------------   -------------    ------------
<S>                                             <C>              <C>              <C>

ASSETS
Cash and due from banks ......................   $  12,096,053   $  12,323,152    $  11,027,692
Federal funds sold ...........................       6,291,000      10,671,259        2,414,812
Investment securities available for sale .....     192,433,075     140,457,032      169,175,987

Loans, net of unearned income ................     287,828,127     275,627,811      286,691,051
  Less allowance for loan losses .............       3,218,426       3,455,969        3,284,338
                                                 -------------   -------------    -------------
                                                   284,609,701     272,171,842      283,406,713
Premises and equipment - net .................       9,981,773       9,871,897       10,070,377
Accrued interest receivable ..................       3,350,624       3,785,600        2,713,240
Excess of cost over net assets purchased .....       1,885,071       2,220,547        1,968,940
Other assets .................................       4,787,968       9,515,869        3,828,711
                                                 -------------   -------------    -------------
     TOTAL ASSETS ............................   $ 515,435,265   $ 461,017,198    $ 484,606,472
                                                 =============   =============    =============

LIABILITIES
 Deposits
   Non-interest bearing ......................   $  33,494,284   $  34,940,131    $  33,512,712
   Interest bearing ..........................     349,756,791     293,560,988      322,221,620
                                                 -------------   -------------    -------------
       TOTAL DEPOSITS ........................     383,251,075     328,501,119      355,734,332
 Short-term borrowings .......................      88,257,113      94,528,431       87,574,152
 Accrued interest payable ....................       1,808,684       1,515,819        1,782,668
 Other liabilities ...........................       5,351,214       5,487,609        4,396,674
 Long-term debt ..............................       2,020,541         933,763        1,424,800
                                                 -------------   -------------    -------------
    TOTAL LIABILITIES ........................     480,688,627     430,966,741      450,912,626

STOCKHOLDERS' EQUITY
  Preferred stock ............................            --              --               --
  Common stock without par value, stated value
   $5, authorized 6,500,000 shares, issued
   and outstanding 3,129,674 .................       7,824,185       7,824,185        7,824,185
  Additional paid-in capital .................      10,301,982      10,301,982       10,301,982
  Retained earnings ..........................      15,827,526      12,660,051       14,965,228
 Accumulated other comprehensive income,
      net of income tax ......................         792,945        (735,761)         602,451
                                                 -------------   -------------    -------------
    TOTAL STOCKHOLDERS' EQUITY ...............      34,746,638      30,050,457       33,693,846
                                                 -------------   -------------    -------------
    TOTAL LIABILITIES AND
              STOCKHOLDERS' EQUITY ...........   $ 515,435,265   $ 461,017,198    $ 484,606,472
                                                 =============   =============    =============
</TABLE>


                                        3

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AMERICAN BANCORPORATION FORM 10-Q Quarterly Report
March 31, 1998


                    American Bancorporation and Subsidiaries

CONSOLIDATED STATEMENT OF INCOME

                                     Three Months ended March 31,
                                          1998          1997
                                       ----------   ----------
INTEREST INCOME
 Loans .............................   $6,305,911   $5,974,954
 Investment securities
  Taxable interest income ..........    2,917,727    2,552,804
  Non-taxable interest income ......       22,771       24,201
                                       ----------   ----------
                                        2,940,498    2,577,005
 Short-term investments ............       81,445      109,716
                                       ----------   ----------
   Total interest income ...........    9,327,854    8,661,675

INTEREST EXPENSE
 Deposits ..........................    3,843,092    2,941,737
 Borrowed funds ....................    1,221,436    1,416,710
                                       ----------   ----------
   Total interest expense ..........    5,064,528    4,358,447
                                       ----------   ----------
     NET INTEREST INCOME ...........    4,263,326    4,303,228
PROVISION FOR LOAN LOSSES ..........       60,000         --
                                       ----------   ----------
 Net interest income after
    provision for loan losses ......    4,203,326    4,303,228
OTHER INCOME
 Service charges on deposit accounts      166,980      187,351
 Securities gains ..................      156,000        4,337
 Net gains on sale of loans ........      459,055      214,371
 Insurance commissions .............       20,148       23,380
 Other income ......................      194,231      159,961
                                       ----------   ----------
   Total other income ..............      996,414      589,400
OTHER EXPENSE
 Salaries and employee benefits ....    1,595,115    1,413,493
 Occupancy and equipment expense ...      580,955      586,732
 Other expenses ....................    1,215,706    1,253,897
                                       ----------   ----------
   Total other expense .............    3,391,776    3,254,122
                                       ----------   ----------
INCOME BEFORE INCOME TAXES .........    1,807,964    1,638,506
PROVISION FOR INCOME TAXES .........      554,457      608,504
                                       ----------   ----------
NET INCOME .........................   $1,253,507   $1,030,002
                                       ==========   ==========


  Average Shares Outstanding .......    3,129,674    3,129,674

    BASIC EARNINGS PER SHARE .......   $     0.40   $     0.33


                                        4

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AMERICAN BANCORPORATION FORM 10-Q Quarterly Report
March 31, 1998


<TABLE>
<CAPTION>




                                                                           American Bancorporation and Subsidiaries

CONSOLIDATED STATEMENT OF CASH FLOWS

                                                                                      Three months ended March 31,
                                                                                     1998                 1997
<S>                                                                            <C>                    <C>    
                                                                                --------------        ------------
  Operating Activities:
     Net Income................................................................   $  1,253,507         $   1,030,002
     Charges to operations not using
        cash in the current period..........................................         (182,583)           (2,830,153)
                                                                               --------------         -------------
          Net cash provided by (applied to) operating activities..............       1,070,924           (1,800,151)
  Investing Activities:
     Investment securities available for sale:
           Proceeds from maturities and repayments............................      33,682,122             2,085,192
           Proceeds from sales..............................................           576,000            43,462,484
           Purchases..........................................................    (57,406,903)          (44,280,218)
     Net increase in loans...................................................      (1,262,988)           (4,285,783)
     Purchase of premises and equipment.....................................         (119,842)             (334,807)
     Proceeds from sale of premises and equipment.........................               1,000                     -
                                                                              ----------------  --------------------
         Net cash used by investing activities................................    (24,530,611)           (3,353,132)
   Financing Activities:
     Net decrease in non-interest
        bearing demand deposits............................................           (18,428)           (1,804,184)
     Net increase (decrease) in interest bearing
         demand and savings deposits..........................................       1,646,547           (3,492,761)
     Net increase in time deposits...........................................      25,888,624             13,987,247
     Net increase (decrease) in short-term borrowings.......................           682,961           (9,567,612)
     Issuance (principal repayment) of long-term debt........................          595,741               (3,920)
     Cash dividends paid....................................................         (391,209)             (391,209)
                                                                               --------------        --------------
          Net cash provided by (applied to) financing activities...............     28,404,236           (1,272,439)
                                                                                  ------------        -------------
    Net Increase (Decrease) in Cash and Cash Equivalents.....................        4,944,549           (6,425,722)

  Cash and Cash Equivalents Beginning Balance..................................     13,442,504            29,420,133
                                                                                  ------------          ------------
  Cash and Cash Equivalents Ending Balance......................................   $18,387,053           $22,994,411
                                                                                   ===========           ===========


</TABLE>


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AMERICAN BANCORPORATION FORM 10-Q Quarterly Report
March 31, 1998



                                       American Bancorporation and Subsidiaries


CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY Three months ended March 31, 1998
and 1997
  
                                                 1998              1997
                                              ------------    ------------
Balance at January 1, .....................   $ 33,693,846    $ 30,422,694
 Net Income ...............................      1,253,507       1,030,002
 Dividends declared ($0.125 per share 1998,
      $0.125 per share 1997) ..............       (391,209)       (391,209)
 Other comprehensive income (loss) ........        190,494      (1,011,030)
                                              ------------    ------------
Balance at March 31, ......................   $ 34,746,638    $ 30,050,457
                                              ============    ============



NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
     The unaudited interim condensed  consolidated  financial statements reflect
all  adjustments  which,  in the opinion of management,  are necessary to a fair
presentation  of  the  financial   position  and  results  of  operations.   All
adjustments  are of a  normal  recurring  nature.  The  notes  to the  financial
statements contained in the 1997 Annual Report to Stockholders should be read in
conjunction with these statements.


NOTE A - ADOPTION OF FINANCIAL ACCOUNTING STANDARDS

     On January 1, 1998 the Company  adopted  Statement of Financial  Accounting
Standards   ("SFAS")  No.  129,  "  Disclosure  of  Information   about  Capital
Structure."  SFAS No.  129  summarizes  previously  issued  disclosure  guidance
contained with  Accounting  Principles  Board ("APB")  Opinion Nos. 10 and 15 as
well as SFAS No. 47. There were no material changes to the Company's disclosures
pursuant to the adoption of SFAS No. 129.

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AMERICAN BANCORPORATION FORM 10-Q Quarterly Report
March 31, 1998




     On  January  1,  1998  the  Company   adopted  SFAS  No.  130,   "Reporting
Comprehensive  Income".  SFAS No.130  established  standards  for  reporting and
display  of  comprehensive  income and its  components  in a full set of general
purpose financial statements.  Comprehensive income is defined as "the change in
equity of a business  enterprise  during a period  from  transactions  and other
events and  circumstances  from  nonowner  sources.  It includes  all changes in
equity during a period except those  resulting  from  investments  by owners and
distributions to owners." The comprehensive income and related cumulative equity
impact of comprehensive income items is required to be disclosed  prominently as
part of the notes to the  financial  statements.  Only the impact of  unrealized
gains or losses on  securities  available for sale is disclosed as an additional
component of the Company's income under the requirements of SFAS No. 130.

     Amounts  included  in  comprehensive  income are as  follows  for the three
months ended March 31, 1998 and 1997:

<TABLE>
<CAPTION>

                                                                        1998                1997
                                                                  --------------       ------------
<S>                                                               <C>                   <C>

     Net Income     ..............................................  $ 1,253,507         $ 1,030,002
     Other comprehensive income (loss), net of tax
         Unrealized gains (losses) on securities:
             Unrealized holding gain (loss)
               arising during the period........................        236,994           (759,654)
             Reclassification adjustment for
               gains included in net income...................         (46,500)           (251,376)
                                                                  --------------       ------------
     Other comprehensive income (loss).........................         190,494         (1,011,030)
                                                                  -------------        ------------
     Comprehensive income.........................................  $ 1,444,001        $     18,972
                                                                    ===========        ============
</TABLE>

                                        7

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AMERICAN BANCORPORATION FORM 10-Q Quarterly Report
March 31, 1998


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


INTRODUCTION
     The discussion and analysis, when read in conjunction with the consolidated
financial  statements and accompanying notes, is designed to provide information
relevant to an assessment of financial  performance and management's  perception
of significant events.

     The following is a discussion of significant factors influencing  operating
performance  and  change  in  financial  position  during  the  interim  periods
presented.  The  discussion  should be read in  connection  with the 1997 Annual
Report and the financial statements appearing elsewhere herein.

SUMMARY
     American Bancorporation (the "Company") recognized net income of $1,254,000
or $0.40 basic  earnings  per share,  for the three months ended March 31, 1998,
compared to net income of $1,030,000 or $0.33 basic earnings per share,  for the
three  months  ended  March 31,  1997.  Return on  average  assets and return on
average equity were 1.00% and 14.52%,  respectively,  for the three months ended
March 31, 1998 compared to 0.89% and 13.45%, respectively,  for the three months
ended March 31, 1997.

     Total assets at March 31, 1998 increased to $515,425,000, from $461,017,000
at March 31, 1997, an increase of 11.8%.  Deposits  increased to $383,251,000 at
March 31, 1998, from $328,501,000 at March 31, 1997, an increase of 16.7%. Total
stockholders' equity was $34,747,000 at March 31, 1998, which represents a 15.6%
increase over total stockholders' equity of $30,050,000 at March 31, 1997.


RESULTS OF OPERATIONS
     QUARTER COMPARISON

     Net Income.  Net income for the three months ended March 31, 1998  amounted
to  $1,254,000,  or $0.40 basic  earnings  per share,  compared to net income of
$1,030,000 or $0.33 basic  earnings per share,  for the three months ended March
31,  1997.  The increase was the result of an increase in other income which was
partially offset by increases in other expense and provision for loan losses and
a decrease in net interest income.

     Net Interest  Income.  Net interest income before provision for loan losses
for the three months ended March 31, 1998 amounted to $4,263,000,  a decrease of
$40,000  or 0.93%,  compared  to the three  months  ended  March 31,  1997.  The
decrease  resulted  primarily  from a 37 basis point  decrease in the  Company's
margin,  which was partially offset by a $39,564,000 or 9.1% increase in average
interest earning assets.

     Total interest income for the three months ended March 31, 1998 amounted to
$9,328,000,  an increase of $666,000 or 7.7%, compared to the three months ended
March 31, 1997. The increase resulted primarily from the increase in the average
interest  earning assets which was partially offset by a 11 basis point decrease
in the average  yield on earning  assets.  Average loans  outstanding  increased
$10,321,000

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AMERICAN BANCORPORATION FORM 10-Q Quarterly Report
March 31, 1998




or 3.7% with average real estate loans  increasing  $5,711,000 or 4.2%,  average
commercial loans increasing  $4,066,000 or 4.5% and average consumer installment
loans  increasing  $544,000 or 1.1%,  primarily  due to  increased  demand.  The
average yield on loans  increased  from 8.65% in 1997 to 8.80% in 1998.  Average
investment  securities and other short-term  investments  outstanding  increased
$29,243,000  or 18.6% while the average  yield  decreased  from 6.83% in 1997 to
6.48% in 1998.

     Total  interest  expense for the three months ended March 31, 1998 amounted
to  $5,065,000,  an increase of $706,000 or 16.2%,  compared to the three months
ended March 31, 1997. The increase resulted primarily from a $32,599,000 or 8.3%
increase in average interest  bearing  liabilities and a 33 basis point increase
in  interest  rates paid on such  liabilities.  Average  NOW,  money  market and
savings accounts  decreased  $5,684,000 or 4.5%. Average time deposits increased
$55,181,000  or 33.7%,  primarily  the result of  increased  marketing  efforts.
Average non-interest bearing accounts decreased $929,000 or 2.8% and represented
8.7% of average  total  deposits  for the three  months  ended  March 31,  1998.
Average short-term  borrowings decreased $17,918,000 or 17.3%, while the average
rate paid on  short-term  borrowings  increased  from  5.39% in 1997 to 5.46% in
1998.

      Provision  for Loan Losses.  The loan loss  provision for the three months
ended March 31, 1998 was $60,000. There was no loan loss provision for the three
months ended March 31, 1997.

     Other  Income.  Other  income for the three  months  ended  March 31,  1998
amounted to  $996,000,  an  increase of $407,000 or 69.1%.  Net gains on sale of
loans increased $245,000 or 114.1%, the result of increased residential mortgage
loans generated for sale to secondary markets by the Company's  mortgage banking
operations.  Net gains on sale of  investment  securities  totalled  $156,000 in
1998, compared to $4,000 in 1997.

     Other  Expense.  Total other  expense for the three  months ended March 31,
1998 amounted to  $3,392,000,  an increase of $138,000 or 4.2%,  compared to the
three  months ended March 31, 1997.  Salaries  and employee  benefits  increased
$182,000 or 12.8%.  Occupancy and equipment  expense  decreased  $6,000 or 1.0%.
Other (miscellaneous) expenses decreased $38,000 or 3.0%.

     Provision  for Income  Taxes.  The provision for income taxes for the three
months  ended March 31, 1998 was  $554,000,  compared to $609,000  for the three
months ended March 31, 1997.


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AMERICAN BANCORPORATION FORM 10-Q Quarterly Report
March 31, 1998





ASSET QUALITY

          Nonperforming  loans  totalled  $2,389,000  or 0.8% of total  loans at
March  31,  1998,   compared  to  $2,658,000  or  0.9%  at  December  31,  1997.
Nonperforming  loans at March 31, 1998 consisted of nonaccrual  loans  totalling
$713,000,  90  day  delinquent  loans  of  $1,121,000,  and  restructured  loans
aggregating  $555,000.  Other real  estate held  totalled  $762,000 at March 31,
1998, compared to $236,000 at December 31, 1997.

CAPITAL RESOURCES

          Stockholders'  equity  totalled  $34,747,000  at March 31,  1998.  The
Company's  risk-based capital ratio was 12.6%, of which 11.5% constituted common
stockholder  equity,  while the risk-based  capital ratio for the Company's bank
subsidiary,  Wheeling National Bank, was 13.0%, with common stockholders' equity
of 11.9%. At March 31, 1998 the Company's leverage capital ratio was 6.4%, while
the leverage ratio for Wheeling National Bank was 6.8%.


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AMERICAN BANCORPORATION FORM 10-Q Quarterly Report
March 31, 1998

<TABLE>
<CAPTION>



                                                         Three months ended March 31,
                                                      1998                       1997
                                               Average     Yield/        Average      Yield/
                                               Balance      Rate         Balance       Rate
INTEREST EARNING ASSETS                         (000's)                   (000's)
<S>                                             <C>        <C>            <C>          <C>
 Loans
  Commercial.................................    $ 95,206   9.11%          $ 91,140    8.91%
  Real estate................................     141,910    8.33           136,199     8.01
  Installment-net...........................       49,481    8.42            48,937     8.86
                                                ---------                  --------
   Total loans   ............................     286,597    8.80           276,276     8.65
 Investment securities
  Taxable....................................     181,246    6.44           151,578     6.74
  Tax-exempt...............................         1,089    8.37             1,178     8.22
                                               ----------               -----------
   Total investment securities   ............     182,335    6.45           152,756     6.75
 Other short-term investments..............         4,207    7.74             4,543     9.66
                                              -----------                ----------
    Total interest earning assets.............   $473,139    7.88          $433,575     7.99
                                                 ========                  ========
INTEREST BEARING LIABILITIES
  Deposits
   NOW, Savings and MMDA......................   $120,130   2.63%          $125,814    2.62%
   Time......................................     218,797    5.58           163,616     5.17
                                               ----------                 ---------
    Total deposits...........................     338,927    4.54           289,430     4.07
  Short-term borrowings......................      85,766    5.46           103,684     5.39
  Long-term debt...........................         1,955   10.17               935     7.97
                                              -----------               -----------
    Total interest
        bearing liabilities...................   $426,648    4.75          $394,049     4.42
                                                 ========                  ========

MARGIN ANALYSIS
 (as a % of earning assets)
 Interest income......................                      7.88%                      7.99%
 Interest expense......................                      4.28                       4.02
                                                             ----                       ----
 Net interest income..................                      3.60%                      3.97%
                                                            ====                       ====

<FN>
<F1>
Averages stated are month end average balances. Installment loans are stated net
of unearned  income.  Average  loans  include  nonaccrual  loans.  Yields do not
reflect tax equivalent adjustments.
</FN>
</TABLE>






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AMERICAN BANCORPORATION FORM 10-Q Quarterly Report
March 31, 1998







Item 3.  Quantitative and Qualitative Disclosures about Market Risk

            Quantitative  and  qualitative  disclosures  about  market  risk are
presented at December 31, 1997 in Item 7a of the Company's Annual Report on Form
10-K filed with the SEC on March 31, 1998.  Management  believes there have been
no material changes in the Company's market risk since December 31, 1997.


PART II - OTHER INFORMATION



Item  6.  Exhibits and Reports on Form 8-K

          B. Reports on Form 8-K:

         Date                 Item             Description
         None




                                       12

<PAGE>




                                   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.



                                                        AMERICAN BANCORPORATION
                                                               (Registrant)


Date       May 15, 1998                                    /s/ Jeremy C. McCamic
    ----------------------------                        ------------------------
                                                         Jeremy C. McCamic
                                                         Chairman and
                                                         Chief Executive Officer


Date        May 15, 1998                                   /s/ Brent E. Richmond
     ----------------------------                     --------------------------
                                                       Brent E. Richmond
                                                       Chief Financial and
                                                       Accounting Officer










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