UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB

(Mark One)

[x]  QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
     OF 1934

                For the quarterly period ended September 30, 2000


[x]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

             For the transition period from __________ to __________



                        Commission file number: 333-73385



                               HCNB Bancorp, Inc.
        (Exact name of small business issuer as specified in its charter)

                  Maryland                                   52-2083046
(State or other jurisdiction of incorporation or           (IRS Employer
               organization)                             Identification No.)


                 1776 East Jefferson Street, Rockville, MD 20852
                    (Address of principal executive offices)

                                  301-468-8848
                           (Issuer's telephone number)

Check whether the issuer:  (1) filed all reports required to be filed by Section
13 or 15(d) of the  Exchange  Act during the last 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

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practical date: As of October 31, 2000,  700,213 shares
of the small business  issuer's common stock, par value of $.01 per share,  were
issued and outstanding.



Transitional Small Business Disclosure Format (Check one): Yes [ ] No [ x ]





<PAGE>


                              PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

                             HCNB BANCORP, INC. AND SUBSIDIARY
                                CONSOLIDATED BALANCE SHEETS
                   SEPTEMBER 30, 2000 (UNAUDITED) AND DECEMBER 31, 1999
<TABLE>
<CAPTION>

                                                             September 30,   December 31,
                                                                 2000             1999
                                                             ------------    ------------
                                                              (unaudited)       (audited)
                                          ASSETS
Cash and cash equivalents:
<S>                                                          <C>             <C>
     On-hand and due from banks                              $    384,656    $    562,648
     Federal Funds sold                                         2,649,522       1,777,648
Investment securities, held to maturity                         1,600,576       4,000,000
Loans receivable (net of allowance for credit
     losses of $90,705 and $00, and deferred loan fees
     of $17,400 and $00)                                        7,712,478          24,800
Investment in Federal Reserve Board stock, at cost                180,000         180,000
Accrued interest receivable                                        87,874          33,141
Property and equipment, net                                       442,059         449,530
Other assets, net                                                  86,746          74,293
                                                             ------------    ------------

         Total assets                                        $ 13,143,911    $  7,102,060
                                                             ------------    ------------


                           LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
     Deposits
         Non-interest bearing                                $    601,622    $     81,190
         Interest bearing                                       6,749,391         783,146
     Accounts payable and accrued expenses                        210,753         131,136
                                                             ------------    ------------

         Total liabilities                                      7,561,766         995,472

STOCKHOLDERS' EQUITY
     Preferred stock, par value $0.01 per share,
         1,000,000 shares authorized, 0 shares
         issued and outstanding                                      --              --
     Common stock, par value $0.01 per share,
         9,000,000 shares authorized, 700,213 shares
         issued and outstanding                                     7,002           7,002
     Additional paid-in capital                                 6,995,128       6,995,128
     Accumulated deficit                                       (1,419,985)       (895,542)
                                                             ------------    ------------

         Total stockholders' equity                             5,582,145       6,106,588

         Total liabilities and stockholders' equity          $ 13,143,911    $  7,102,060
                                                             ------------    ------------
</TABLE>


See accompanying notes to consolidated financial statements.


                                             1
<PAGE>
<TABLE>
<CAPTION>
                                          HCNB BANCORP, INC. AND SUBSIDIARY
                                        CONSOLIDATED STATEMENTS OF OPERATIONS
                        FOR THE NINE AND THREE MONTH PERIODS ENDED SEPTEMBER 30, 2000 AND 1999
                                                     (unaudited)

                                                   Nine months ended September 30,    Three months ended September 30,
                                                        2000              1999             2000              1999
                                                     ---------         ---------         ---------         ---------
INTEREST INCOME
<S>                                                  <C>               <C>               <C>               <C>
     Interest income on loans                        $ 276,495         $    --           $ 173,371         $    --
     Interest income on investment securities          314,667             1,509            98,789               354
                                                     ---------         ---------         ---------         ---------
         Total interest income                         591,162             1,509           272,160               354

INTEREST EXPENSE
     On deposits                                       147,879              --              74,956              --
     Other                                                --                --                --                --
                                                     ---------         ---------         ---------         ---------
         Total interest expense                        147,879              --              74,956              --
                                                     ---------         ---------         ---------         ---------

         Net interest income                           443,283             1,509           197,204               354

PROVISION FOR LOAN LOSSES                               90,705              --              34,551              --
                                                     ---------         ---------         ---------         ---------
         Net interest income after
           provision for loan losses                   352,578             1,509           162,653               354

SERVICE FEES AND CHARGES                                13,368              --               6,657              --
                                                     ---------         ---------         ---------         ---------
         Net interest income after service
           fees and charges                            365,946             1,509           169,310               354

OTHER OPERATING EXPENSES
      Salaries and benefits                            429,907           220,768           141,043           102,951
Depreciation and amortization                           32,025              --               8,694              --
     Occupancy expense and supplies                    153,191            41,387            48,091            18,730
     Marketing                                          30,034              --               4,840              --
     Professional fees                                 153,352           176,202            45,521            16,953
     Regulatory expense                                   --              16,895              --               2,735
     Other operating expenses                           91,880           133,303            29,845            69,656
                                                     ---------         ---------         ---------         ---------
         Total other operating expenses                890,389           588,555           278,034           211,025
                                                     ---------         ---------         ---------         ---------
         Loss before provision for
           Income taxes                               (524,443)         (587,046)         (108,724)         (210,671)
                                                     ---------         ---------         ---------         ---------

PROVISION FOR INCOME TAXES                                --                --                --                --
                                                     ---------         ---------         ---------         ---------

Net Loss                                             $(524,443)        $(587,046)        $(108,724)        $(210,671)
                                                     ---------         ---------         ---------         ---------

NET LOSS PER SHARE -
       BOTH BASIC AND DILUTED                           ($.749)                             ($.156)

WEIGHTED AVERAGE SHARES
       OUTSTANDING                                     700,213                             700,213
</TABLE>


See accompanying notes to consolidated financial statements.









                                                           2
<PAGE>


<TABLE>
<CAPTION>
                                          HCNB BANCORP, INC. AND SUBSIDIARY
                                        CONSOLIDATED STATEMENTS OF CASH FLOWS
                            FOR THE NINE MONTH PERIODS ENDED SEPTEMBER 30, 2000 AND 1999
                                                     (unaudited)

<S>                                                                                 <C>                 <C>
                                                                                        2000                1999
                                                                                    -----------         -----------
CASH FLOWS FROM OPERATING ACTIVITIES
     Net loss                                                                       $  (524,443)        $  (587,046)
     Adjustments to reconcile net loss to net cash from operating activities
         Provision for loan losses                                                       90,705                --
         Depreciation and amortization                                                   32,025                --
         Effect of change in:
                  Accrued interest receivable                                           (54,733)               --
                  Other assets                                                          (12,453)               --
                  Accounts payable and accrued expenses                                  79,617             464,736
                                                                                    -----------         -----------

                           Net cash from operating activities                          (389,282)           (122,310)

CASH FLOWS FROM INVESTING ACTIVITIES
     Sale of investment securities                                                    2,399,424                --
     Loan principal disbursements                                                    (7,778,383)               --
     Purchase of property and equipment                                                 (24,554)           (356,577)
                                                                                    -----------         -----------

                           Net cash from investing activities                        (5,403,513)           (356,577)

CASH FLOWS FROM FINANCING ACTIVITIES
     Increase in savings deposits                                                     6,486,677                --
     Repayments of related party advances                                                  --               471,600
                                                                                    -----------         -----------

                           Net cash from financing activities                         6,486,677             471,600

INCREASE IN CASH AND CASH EQUIVALENTS                                                   693,882              (7,287)

CASH AND CASH EQUIVALENTS, beginning of period                                        2,340,296               8,341
                                                                                    -----------         -----------
CASH AND CASH EQUIVALENTS, end of period                                            $ 3,034,178         $     1,054
                                                                                    -----------         -----------


Interest paid                                                                       $   131,935         $      --

Income taxes paid                                                                   $      --           $      --
</TABLE>


See accompanying notes to consolidated financial statements.




                                                         3
<PAGE>


                        HCNB BANCORP, INC. AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (unaudited)

1. ORGANIZATION

HCNB Bancorp, Inc. (the Company) was incorporated under the laws of the State of
Maryland on February 24, 1998,  primarily to hold all of the outstanding  shares
of capital stock of a national bank.

Effective  October,  1999, the Company completed an initial public offering (the
Offering)  in which it sold  700,213  shares of common  stock for $10 per share.
During 1999, the Company received proceeds from the Offering of $7,002,130.

On December 14, 1999, Harbor Capital National Bank (the Bank) received authority
from the Office of the  Comptroller  of the  Currency  and the  Federal  Deposit
Insurance Corporation to begin banking operations.

From  February 24, 1998 until  December 14, 1999,  the Company was  considered a
development stage enterprise.

The Company's  primary  operations are conducted by the Bank, which operates one
branch in Rockville,  Maryland.  The Bank is principally engaged in the business
of attracting  deposits and investing in commercial and consumer loans. The Bank
is subject to certain risks inherent in making loans and accepting deposits.  In
addition to these risks, the Company is currently operating at a loss. Growth in
operations  will be necessary  for the Company to be able to cover  overhead and
other operational costs.


2. BASIS OF PRESENTATION

The accompanying  consolidated financial statements include the activity of HCNB
Bancorp, Inc. and its wholly-owned subsidiary, Harbor Capital National Bank. All
intercompany transactions have been eliminated in consolidation.

The accompanying  consolidated  financial  statements for September 30, 2000 and
for the three and nine month periods ended September 30, 2000 and 1999 have been
prepared by the Company, without audit, pursuant to the rules and regulations of
the  Securities  and  Exchange  Commission.  Certain  information  and  footnote
disclosures  normally  included in financial  statements  prepared in accordance
with generally  accepted  accounting  principles  have been condensed or omitted
pursuant to such rules and regulations.  However,  the Company believes that the
disclosures are adequate to make the information presented not misleading.

These consolidated  financial  statements should be read in conjunction with the
financial  statements  and notes  thereto for the year ended  December 31, 1999,
included in the Company's  Annual Report to Stockholders  on Form 10-KSB,  filed
with the  Securities and Exchange  Commission.  The balance sheet as of December
31, 1999 has been derived from the audited financial statements at that date.

The unaudited  consolidated  financial  statements  included  herein reflect all
adjustments (which include only normal, recurring adjustments) which are, in the
opinion of management,  necessary to state fairly the financial  position of the
Company as of September 30, 2000 and the results of its operations for the three
and nine month periods ended  September 30, 2000 and the cash flows for the nine
month period ended  September 30, 2000.  The results of interim  periods are not
necessarily indicative of the results expected for the full fiscal year.


3. RELATED PARTY TRANSACTIONS

The officers and directors of the Company and the Bank have deposits in the Bank
approximating $1,018,600 at September 30, 2000.


                                       4
<PAGE>

The  officers  and  directors  of the Company and the Bank have loans due to the
Bank  approximating  $163,400 at September 30, 2000.  All loans made to officers
and directors are made on substantially the same terms, including interest rates
and collateral, as those prevailing at the time for comparable transactions with
unaffiliated  third  parties  and do not  involve  more than the normal  risk of
repayment or present other unfavorable features.


4. REGULATORY MATTERS

The Bank is subject to various regulatory capital  requirements  administered by
the federal banking agencies.  Failure to meet minimum capital  requirements can
initiate certain mandatory - and possibly additional  discretionary - actions by
regulators  that,  if  undertaken,  could have a direct  material  effect on the
Bank's financial  statements.  Under capital action, the Bank must meet specific
capital  guidelines  that involve  quantitative  measures of the Bank's  assets,
liabilities and certain  off-balance  sheet items as calculated under regulatory
accounting  practices.  The Bank's capital amounts and  classification  are also
subject to  qualitative  judgments  by the  regulators  about  components,  risk
weighting and other factors.

Quantitative  measures  established  by  regulation to ensure  capital  adequacy
require the Bank to maintain minimum amounts and ratios. Management believes, as
of September 30, 2000, that the Bank meets all capital adequacy  requirements to
which it is subject.

Due to the Bank's recent  formation,  as of December 14, 1999,  the Bank has not
been  categorized  by the Office of the  Comptroller of the Currency (OCC) under
the  regulatory  framework for prompt  corrective  action.  To be categorized as
well-capitalized,  the Bank  must  maintain  minimum  total  risk-based,  Tier I
risk-based,  and Tier I leverage ratios.  There are no conditions or events that
management   believes   would  prevent  the  Bank  from  being   categorized  as
well-capitalized.


5. INCOME TAXES

The Company uses the liability method of accounting for income taxes as required
by SFAS No. 119,  "Accounting  for Income  Taxes".  Under the liability  method,
deferred-tax  assets and liabilities are determined based on differences between
the financial  statement  carrying  amounts and the tax basis of existing assets
and liabilities  (i.e.,  temporary  differences) and are measured at the enacted
rates that will be in effect when the differences reverse. Deferred income taxes
will be  recognized  when it is deemed more likely than not that the benefits of
such deferred  income taxes will be realized;  accordingly,  no deferred  income
taxes or income tax benefits have been recorded by the Company.



                                       5
<PAGE>


Item 2. Management's Discussion and Analysis of Financial Condition and Results
        of Operations

This discussion and analysis provides an overview of the financial condition and
results of operations  of HCNB  Bancorp,  Inc.  ("Company")  and Harbor  Capital
National Bank ("Bank") as of September 30, 2000 and for the three and nine month
periods  ended  September  30, 2000.  Comparative  discussion  of the results of
operations for the three and nine months ended  September 30, 1999 and September
30,  2000  is  not  provided,  as  the  Company  had no  operations  other  than
organizational  activity  in the  first  nine  months  of  1999,  and  as  such,
comparisons  do not provide  accurate or  meaningful  information  regarding the
Company's financial position or results of operations.

Some of the  information  in this  discussion  and  analysis  includes  "forward
looking statements". These statements use words such as "may", "will", "expect",
"anticipate",  "plan",  "estimate" or similar words, and they discuss our future
expectations, projections of financial results or strategies that are subject to
risks and uncertainties.  When you read a forward-looking  statement, you should
keep in mind the risk factors set forth in our Annual Report to  Stockholders on
Form 10-KSB for the year ended  December  31, 1999.  Our actual  results and the
actual outcome of our  expectations  and strategies could be different from what
have been described in this report because of these risks and uncertainties.


General
HCNB Bancorp,  Inc. was incorporated  under the laws of the State of Maryland on
February  24,  1998,  to  serve as a bank  holding  company  for a newly  formed
commercial  bank,  Harbor  Capital  National Bank. The Bank received its charter
from the Office of the  Comptroller  of the  Currency on  December  14, 1999 and
commenced  operations  that day from its sole  location  at 1776 East  Jefferson
Street, Rockville,  Maryland. The Bank is a member of the Federal Reserve System
and its deposits are insured by the Federal Deposit Insurance Corporation.

The Company  completed its initial  offering of its shares of common stock ($.01
par value) in October,  1999. In the initial offering,  700,213 shares were sold
at a  price  of  $10.00  per  share;  total  proceeds  from  the  offering  were
$7,002,130.  After  offering  expenses,  the net  proceeds to the  Company  were
$6,828,075.  The Bank was initially  capitalized  by the Company in an amount of
$6,000,000.


Financial Condition
As of September 30, 2000, assets were  $13,143,911.  This represents a growth of
$6,041,851 or 85% since  December 31, 1999.  Deposits at September 30, 2000 were
$7,351,013.  This growth was mostly  attributable to demand for banking services
that had been  building  during the  extended  organization  period and  officer
calling  activities.  Management  believes  that the timing of the Bank  opening
during the  holiday  season  and in the winter  season had the effect of slowing
growth in deposit  activity  in the first  quarter,  but  deposit  activity  has
increased  in the second and third  quarters.  Management  has set the  interest
rates paid on  deposits  to be  competitive  in the market and will  continue to
increase marketing activities during the fourth quarter of 2000. The Bank has no
brokered funds.

As of  September  30,  2000,  loans  (net of an  allowance  for loan  losses and
deferred loan fees) totaled  $7,712,478,  the majority of which were  commercial
and  commercial  real estate loans.  Funds not extended in loans are held in the
investment  portfolio.  At September 30, 2000, the Bank had investments totaling
$4,250,098.  All investments,  other than the Federal Reserve Bank stock held by
the Bank and a $100,000 certificate of deposit,  were held in overnight or short
term  government  agency  securities.  Since  December  31,  1999,  the Bank has
invested  mostly in  federal  funds  sold due to the  prevailing  interest  rate
environment.

Total capital at September  30, 2000 was  $5,582,145.  Management  believes this
capital will be adequate to fund the  Company's  and Bank's  operations  for the
next twelve month period.



                                       6
<PAGE>

Results of Operations
On a  consolidated  basis,  the Company  recorded a net loss of $108,724 for the
three month period ended  September  30, 2000 and a net loss of $524,443 for the
nine month period ended  September  30, 2000. Of the net loss for the nine month
period, $483,154 was the loss associated with Bank operations.

Operating results for the year ending December 31, 2000 are projected to reflect
losses as loan and deposit growth initially will not produce net interest income
sufficient to cover operating expenses.  Management continues to consider branch
expansion into the District of Columbia. No formal action has been taken and all
activities are at this point exploratory.  Costs associated with the development
of a branch  location,  if expansion  should  occur this year,  could impact the
Bank's operating results in 2000.


Net Interest Income
Net interest  income is the difference  between income on assets and the cost of
funds  supporting those assets.  Earning assets are composed  primarily of loans
and  investments;   interest  bearing  deposits  make  up  the  cost  of  funds.
Non-interest  bearing deposits and capital are also funding sources.  Changes in
the volume and mix of earning  assets and funding  sources along with changes in
associated interest rates determine changes in net interest income.

The net interest income for the three and nine month periods ended September 30,
2000 was $197,204 and $443,283.  For the nine month period,  $276,495 was income
from lending activities;  $314,667 was income from security investments; and the
Bank's cost of deposits was $147,879.

Growth in the loan  portfolio  resulted  in greater  contributions  to  interest
income in the third  quarter,  because the yields on loans are normally 3% to 5%
higher than yields on investment securities. At September 30, 2000, the weighted
average yield on the loan  portfolio was 10.23%;  the weighted  average yield on
the investment portfolio was 6.53%.

The Bank is located in a competitive  environment and the rates of interest paid
on  its  deposits  are  somewhat  driven  by  those  paid  by  other  depository
institutions.  Management  has taken a  position  to be  competitive  within the
market,  normally  placing the Bank in the upper  one-half  of those  depository
institutions competing with it for deposits,  however the Bank has chosen not to
aggressively  compete for jumbo  certificates  of deposits which are highly rate
sensitive.  At September 30, 2000, the Bank's weighted  average cost of deposits
was 4.30%.  It is anticipated  that both the volume of deposits and the interest
expense will increase  during the next twelve month period based upon  increased
marketing activities.


Allowance and Provision for Credit Losses
The provision for credit losses  represents an expense to fund the allowance for
credit losses.  These funds are set aside in anticipation of potential of credit
losses in the current  loan  portfolio.  The amount  allocated  is based on many
factors which are considered in  management's  assessment of the loan portfolio.
These factors include economic  conditions and trends, the value and adequacy of
collateral,  the volume and mix of the loan  portfolio,  the  performance of the
portfolio, internal loan processes and capital adequacy of the Bank.

Based upon management's analysis of the loan portfolio as of September 30, 2000,
management  allocated to the provision for credit losses an additional amount of
$34,511 for the third  quarter.  On September 30, 2000, the provision for credit
losses totaled $90,705. The amount was computed based loan portfolio balances of
September  28, 2000 and upon an  allocation  computation  of 1.25% of commercial
loans,  1.50% of  consumer  loans,  1.00% of real  estate  loans and  1.375% for
personal lines of credit.


Non-Interest Income
Non-interest  income is primarily  deposit  account service charges and fees for
ancillary  services such as ATM access and safe deposit  rentals.  For the three
month period ended September 30, 2000, the Bank realized  non-interest income in
the amount of $6,657.  This compares to $2,591  realized in the first quarter of
2000 and a  non-interest  income earned in the second  quarter of $4,120.  These
fees are volume  driven,  based mostly on the deposit  customer  base and should
increase as the customer base increases.  The Bank has seen increased use of its
automated teller machine  especially by consumers holding debit/ATM cards issued
by other financial institutions.


                                       7
<PAGE>

The Bank  continues  to  prepare  for the full  implementation  of its  internet
banking  program.  Initial  expenses  relating to the start of the program  were
minimal due to concessions  made by the service  provider.  Monthly expenses are
based on both a fixed program charge and activity charges,  and are estimated to
be $1,000 to $1,200 per month.  Included with the internet  banking program is a
bill payment  service.  Management  anticipates  that costs associated with this
service will be partially borne by the customer.


Non-Interest Expense
Non-interest  expense for the three and nine month periods  ended  September 30,
2000 were $278,024 and $890,389. The largest portion of these operating expenses
were salaries and employee  benefits.  For the nine month period ended September
30, 2000,  $461,932 was salary and employee benefits  expenses.  This represents
52% of all other operating expenses.


Liquidity and Capital Resources
Stockholders'  equity at September 30, 2000 was  $5,582,145.  No cash  dividends
have been declared by the Company since its inception.

Banking  regulatory  authorities  have  implemented  strict  capital  guidelines
directly  related to the credit risk  associated with an  institution's  assets.
Banks and bank holding  companies are required to maintain  capital levels based
on their  "risk  adjusted"  assets  so that  categories  of assets  with  higher
"defined"  credit risks will require more capital support that assets with lower
risks. The Bank has exceeded its capital adequacy requirements to date.

The Bank's liquidity is provided by its cash and cash equivalents, which are its
cash on hand and on deposit with other  financial  institutions  and its federal
funds sold. The levels of such assets are dependent  upon the Bank's  operating,
financing and investment  activities at any given time.  Variations in levels of
cash and cash  equivalents  are  mostly  influenced  by  deposit  flows and loan
activity.
















                                       8
<PAGE>

                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings

           None


Item 2. Changes in Securities and Use of Proceeds

        (a) Not applicable

        (b) Not applicable

        (c) Not applicable

        (d) Not applicable


Item 3. Defaults Upon Senior Securities

           Not Applicable


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

           None


Item 5. Other Information

           None

Item 6. Exhibits

        (a) Exhibit 27 - Financial Data Schedule

        (b) No reports on Form 8-K were filed during the quarter ended
            September 30, 2000.



                                       9
<PAGE>



                                   Signatures

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

                                       HCNB Bancorp, Inc.
                                       (Registrant)

Date November 6, 2000                  /s/ Michael J. Burke
     ------------------------          ------------------------------------
                                       Michael J. Burke, Chairman/President
                                       (Principal Executive Officer)

Date November 6, 2000                  /s/ Li-Min Lee
     ------------------------          ------------------------------------
                                       Li-Min Lee, Treasurer
                                       (Principal Accounting and
                                       Financial Officer)





















                                       10