U.S. SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549
                            FORM 10-K
                                
(Mark one)

X      ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

       TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the period from _____________ to _________________

Commission file number 0-12724

                        BELMONT BANCORP.
         (Name of small business issuer in its charter)
Ohio (State of Incorporation)                I.R.S. Employer ID
No. 34-1376776
                         325 MAIN STREET
                     BRIDGEPORT, OHIO  43912
            (Address of principal executive offices)
                    Telephone (614)-695-3323
                                
Securities registered under Section 12(b) of the Exchange Act:
NONE

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

     Title of each class:               Name of each exchange on
                                        which registered:
     Common stock, $0.50 par value      NASDAQ SmallCap Market

     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

     Check if there is no disclosure of delinquent filers in
response to Item 405 of Regulation S-B is not contained in this
form, and no disclosure will be contained, to the best of the
Registrant's knowledge.  In definitive proxy or information
statements incorporated by reference to Part III of this Form 10-
K or any amendment to this Form 10-K.X

 Aggregate market value of voting stock held by nonaffiliates as
of March 13, 1996 - $57,624,000
There were 2,114,644 shares of $0.50 par value, common stock
outstanding as of March 13, 1996.
                                
               DOCUMENTS INCORPORATED BY REFERENCE
                                
Portions of the Proxy Statement of the Registrant dated March 15,
1996 are incorporated in Items 10, 11, 12, and 13.  The Annual
Report of the Registrant is incorporated by reference in Items 5,
6, 7, and 8.
                           
                                PART I

ITEM 1-BUSINESS

BELMONT BANCORP.

     Belmont Bancorp. is a bank holding company which was
organized under the laws of the State of Ohio in 1982.  On April
4, 1984, Belmont Bancorp. acquired all of the outstanding capital
stock of Belmont National Bank (formerly Belmont County National
Bank), a banking corporation organized as a national banking
association.  Belmont National Bank provides a variety of
financial services.  In addition to Belmont National Bank, the
Corporation owns Belmont Financial Network, Inc., a non-bank
subsidiary.

BELMONT NATIONAL BANK

     Belmont National Bank resulted from the merger on January 2,
1959, of the First National Bank of St. Clairsville, and the
First National Bank of Bridgeport.  Both banks were organized as
national associations prior to the turn of the century.  Belmont
National Bank operates through a network of ten branches located
in Belmont, Harrison and Tuscarawas Counties in Ohio.  The main
office is located in the city of St. Clairsville.  Other branch
locations in Belmont County include Bridgeport, Lansing,
Shadyside, and the Ohio Valley Mall.  Branches in Harrison County
are located in Jewett and Cadiz, Ohio.  Branches in Tuscarawas
County are located in New Philadelphia, Ohio.  The three New
Philadelphia offices were acquired on October 2, 1992, when
Belmont National Bank acquired the deposits and loans of these
offices from Diamond Savings and Loan.

     Belmont National Bank provides a wide range of retail
banking services to individuals and small to medium-sized
businesses.  These services include various deposit products,
business and personal loans, credit cards, residential mortgage
loans, home equity loans, and other consumer oriented financial
services including IRA and Keogh accounts, safe deposit and night
depository facilities.  Belmont National Bank also owns automatic
teller machines located at the Ohio Valley Mall and in New
Philadelphia, Ohio providing 24 hour banking service to our
customers.  Belmont National Bank belongs to MAC, a nationwide
ATM network with thousands of locations nationwide.  Belmont
National Bank offers a wide variety of fiduciary services.  The
trust department of the Bank administers pension, profit-sharing,
employee benefit plans, personal trusts and estates.

BELMONT FINANCIAL NETWORK

     On July 1, 1985, Belmont Bancorp. formed a subsidiary
corporation, Belmont Financial Network, Inc.(BFN).  The purpose
of the subsidiary was primarily to engage in lease consulting for
personal or real property.  Changes to the federal tax code that
eliminated new investment tax credits as of December 31, 1987
adversely affected the leasing business.  The daily operations of
Belmont Financial Network were suspended during 1989 to reduce
overhead costs.  The leases formerly serviced by Belmont
Financial Network are presently administered by Belmont National
Bank.  BFN was inactive throughout 1995.

BELMONT INVESTMENT AND FINANCIAL SERVICES, INC.

     During 1988, Belmont National Bank began the operations of
Belmont Investment and Financial Services, Inc., a wholly-owned
subsidiary of the Bank.  Belmont Investment and Financial
Services, Inc. was organized so that the Bank's customers would
have available to them a wider array of financial products as
well as sound investment and financial planning.  Through Belmont
Investment and Financial Services, Inc., customers can purchase
government or corporate bonds, and mutual fund products.  In
1990, the services provided by the Corporation, other than
advisory services, were reorganized into a department of the
Bank.

 SUPERVISION AND REGULATION

     Belmont Bancorp. is subject to regulation under the Bank
Holding Company Act of 1956, as amended (the "Act").  The Act
requires the prior approval of the Federal Reserve Board for a
bank holding company to acquire or hold more than a 5% voting
interest in any bank, and restricts interstate banking
activities.  The Act restricts Belmont's non-banking activities
to those which are closely related to banking.  The Act does not
place territorial restrictions on the activities of nonbank
subsidiaries of bank holding companies.  Belmont's banking
subsidiary is subject to limitations with respect to intercompany
loans and investments.  A substantial portion of Belmont's cash
revenues is derived from dividends paid by its subsidiary bank.
These dividends are subject to various legal and regulatory
restrictions as summarized in Note 15 of the financial
statements.

     The Bank is subject to the provisions of the National
Banking Act and the regulations of the Federal Reserve Board and
the Federal Deposit Insurance Corporation.  Under the Bank
Holding Company Act of 1956, as amended, and under regulations of
the Federal Reserve Board pursuant thereto, a bank holding
company is prohibited from engaging in certain tie-in
arrangements in connection with extensions of credit.

     The monetary policies of regulatory authorities, including
the Federal Reserve Board, have a significant effect on the
operating results of banks and bank holding companies.  The
nature and future monetary policies and the effect of such
policies on the future business and earnings of Belmont Bancorp.
and its subsidiary bank cannot be predicted.

FOREIGN OPERATIONS

     Belmont Bancorp. has no foreign operations.

EXECUTIVE OFFICERS

     For information concerning executive officers of Belmont
Bancorp. and Belmont National Bank, see Item 10 of Form 10-K.

ITEM 2-PROPERTIES

DESCRIPTION ON PROPERTIES

     The principal executive offices of Belmont National Bank are
located in St. Clairsville, Ohio, the seat of Belmont County.
This office consists of a two story brick building owned by the
Bank with attached drive-in facilities.  The building consists of
9,216 square feet which houses the commercial bank operations and
the executive, marketing and human resources offices.  In
addition, the Bank transacts business in the following branch
locations:

     Mall Office-This office is located at the Ohio Valley Mall,
     a major shopping mall located two miles east of St.
     Clairsville, Ohio, and consists of a 4,000 square foot
     office inside the mall proper, plus a stand alone drive-in
     facility at the perimeter of the Mall.  Automatic teller
     machines are located at the drive-in location and inside the
     branch office.

     Lansing Office-This 1,352 square foot office is located in
     Lansing, Ohio, a small community approximately six miles
     east of St. Clairsville on US. Route 40.  The facility is a
     masonry building with adjoining drive-in facilities.

     Bridgeport Office-This office is located in Bridgeport,
     Ohio, a community located on the Ohio/West Virginia border,
     approximately 10 miles east of St. Clairsville.  This 5,096
     square foot facility is a recently remodeled masonry
     building with adjoining drive-in facilities.
     
     Shadyside Office-This 1,792 square foot office is located in
     Shadyside, a village located on Ohio State Route 7.  The
     facility is a masonry building with accompanying drive-in
     facilities.
     
     Jewett Office-This office is located in Harrison County
     approximately twenty-six miles north of St. Clairsville,
     across from Cross Street, the intersection of State Routes 9
     and 151.  The building is constructed of masonry brick and
     contains  2,400 square feet with an accompanying drive-in
     facility.
          
     Cadiz Office-This office is located in Cadiz, Ohio in
     Harrison County, approximately seventeen miles north of St.
     Clairsville at the intersection of State Routes 9 and 22.
     The brick and tile building contains 1,800 square feet with
     an accompanying drive-in facility.
     
     New Philadelphia Office-This office, located at 152 North
     Broadway Avenue,  is a 33,792 square foot site improved with
     two inter-connected, two story brick office buildings with a
     total building area of 13,234 square feet.  Part of the
     office space is leased to other businesses.  This location
     also has a drive-in facility and an automatic teller
     machine.
     
     New Philadelphia Office-This office, located at 2300 East
     High Avenue, is comprised of a one story, 1,605 square foot
     brick structure with a 783 square foot drive-thru canopy.
     
     New Philadelphia Office-This office, located at 525 Wabash
     Avenue, is comprised of a 14,250 square foot site with a 246
     square foot drive-thru banking facility.

     All offices are owned by the Bank except for the Mall
Office.  The lease at the Mall location is in effect until the
year 1996 with options to renew thereafter.

     Wheeling, WV Office - In January 1996, Belmont National Bank
relocated its corporate headquarters to Wheeling, WV.  The office
is a leased facility located at 980 National Road, Wheeling, WV.

ITEM 3-LEGAL PROCEEDINGS

     None.


ITEM 4-SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     No matters were submitted to a vote of security holders
during the fourth quarter of the fiscal year covered by this
report.

                             PART II

ITEM 5-MARKET FOR THE REGISTRANT'S COMMON STOCK AND RELATED
SHAREHOLDERS' MATTERS
<TABLE>
<CAPTION>
  1995                         
                           Dividend
Quarter  High     Low      per Share
<S>       <C>     <C>      <C>
1st       $18.00  $14.25   $   0.105
2nd        19.75   16.00       0.110
3rd        25.00   18.50       0.130
4th        26.50   23.50       0.130
   Total                   $   0.475
                                    
                                    
  1994                         
                            Dividend
Quarter  High     Low       per Share
1st        $8.80   $8.40   $   0.084
2nd         9.80    8.80       0.084
3rd        12.88   10.00       0.105
4th        18.00   11.50       0.105
   Total                   $   0.378

</TABLE>
     
     The number of shareholders of record for the Corporation's
stock as of March 6, 1996 was 614.  The latest available market
price based on an actual trade price was $27.25 per share on
March 13, 1996.

     Belmont Bancorp.'s common stock has a par value of $0.50
and, since October 1994, has been traded on the Nasdaq SmallCap
market.

     The tables above show its high and low market prices and
dividend information for the past two years.  Prior to the Nasdaq
listing in October 1995, market prices were based on actual
trades known to the Corporation due to lack of an established
market. Market prices and cash dividends paid per share have been
restated to reflect the effect of a 10% common stock dividend
paid in January 1994, a 25% common stock dividend paid in July
1994 and a 2-for 1 split paid in May 1995.

     Information regarding the limitations on dividends available
to be paid can be located in Footnote 15 of the Notes to the
Consolidated Financial Statements in the Corporation's Annual
Report (Exhibit B).
                               
     Treasury stock is accounted for using the cost method.
There were 832 shares held in treasury on December 31, 1995 and
424 shares in treasury on December 31 1994.
                               
ITEM 6.-SELECTED FINANCIAL DATA

     The Summarized Quarterly Financial Information and the
Consolidated Five Year Summary of Operations contained in the
Corporation's annual report (Exhibit B) are hereby incorporated
by reference.

ITEM 7-MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS

     The data presented in this discussion should be read in
conjunction with the audited consolidated financial statements.

RESULTS OF OPERATIONS

SUMMARY

     For 1995, net income increased 30.06% from the previous
year; net income for the year ended 1994 increased 25.89%
compared to 1993.  Net income per common share for 1995 was $1.95
compared to $1.49 per common share in 1994 and 1.18 in 1993.  The
Corporation's net income to average assets, referred to as return
on assets, increased to 1.35% for the year ended 1995 from 1.12%
last year and 0.96% during 1993.  Operating income consists of
earnings before income taxes, minus net investment and trading
gains or plus net investment and trading losses.  Operating
income increased by $1,113,000 or 25.74% from 1994 to 1995.  The
table below summarizes earnings performance for the past three
years.
<TABLE>
<CAPTION>
($000s) except per share data     1995      1994       1993
<S>                             <C>       <C>        <C>
Operating income                $5,437    $4,324     $2,032
Net income                       4,206     3,234      2,569
                                                  
Net income per share            $ 1.95    $ 1.49     $ 1.18
                                                  
Return on average assets          1.35%     1.12%      0.96%
Return on average common        
equity                           18.90%    16.71%     14.57%
Return on average total        
equity                           18.42     16.27%     14.21%
</TABLE>

                                    1995         1994
                                 compared     compared
% Increase from previous year     to 1994      to 1993
Operating income                    25.74%      112.80%
Net income                          30.06%       25.89%


NET INTEREST REVENUE

     A major share of the Corporation's income results from the
spread between income on interest earning assets and interest
expense on the liabilities used to fund those assets, known as
net interest income.  Net interest income is affected by changes
in interest rates and 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 incurred on
liabilities without regard to the amounts outstanding in either
category.

     The Consolidated Average Balance Sheets and Analysis of Net
Interest Income Changes included in the Corporation's annual
report (Exhibit B), compare interest revenue and interest earning
assets outstanding with interest cost and liabilities outstanding
for the years ended December 31, 1995, 1994, and 1993, and
computes 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 Corporation's net interest income grew by $1,764,000 on
a taxable equivalent basis during 1995 compared to the same
period last year, a 15.30% increase.  The increase in net
interest income was primarily attributable to the increase in
average earning assets and improved net interest margins.  During
1995, the Corporation's average interest-earning assets grew by
approximately $20.9 million, up 7.68% from 1994.

     The yield on interest earning assets improved from 7.49%
during 1994 to 8.28% during 1995, an increase of 79 basis points.
(A basis point (bp) is equivalent to .01%.)  However this
increase was offset by an increase in the  cost of interest
bearing liabilities of 57 basis points from 1994 to 1995.
Consequently, the net interest rate spread increased from 3.87%
during 1994 to 4.09% during 1995.

     The 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 assets 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).

     This table shows that the increase in the Corporation's net
interest income during the year-to-date periods presented from
1994 to 1995 was generated by growth in the levels of earning
assets and average interest bearing liabilities outstanding
(depicted by the volume column).

OTHER OPERATING INCOME

     Other operating income excluding securities gains and
losses, increased 30.47% and totaled $1,683,000 in 1995, compared
to $1,290,000 in 1994 and $1,193,000 in 1993.  The table below
shows the dollar amounts and growth rates of the components of
other operating income.
<TABLE>
<CAPTION>
                       1995                 1994                1993
($000s)               Total     Change      Total    Change    Total
<S>                  <C>      <C>          <C>        <C>     <C>
Trust income         $  431   $  21.11%    $  341     24.45%  $  274
Service charges on      555       5.31%       527     11.18%     474
deposits               
Gain on sale of         136     491.30%        23    -65.67%      67
loans                  
Recovery on class       189         na          -        na        -
action lawsuit         
Other income            390      -2.26%       399      5.56%     378
                       
   Subtotal          $1,683      30.47%     1,290      8.13%   1,193
                     
Investment              (11)    -22.22%        (9)    95.61%    (205)    
securities gains                                      
(losses)
Gains (losses) on                                            
securities
available for sale      113     305.45%      (55)   -104.35%   1,264
Trading gains                    -                 
(losses)                  -     100.00%        1     100.86%    (116)
   Total             $1,785      45.48%   $1,227     -42.56%  $2,136
</TABLE>                   
 
     During the fourth quarter of 1995, the Corporation recovered
$189,000 for settlement of a class action lawsuit arising out of
the issuance and sale of taxable municipal bonds. This accounts
for nearly half of the increase in Noninterest income.

     Another significant increase in Noninterest income is
attributable to gains on sale of loans which increased $113,000
from 1994 to 1995.  The Corporation utilized the secondary
mortgage market during 1995 to divest itself of fixed rate
mortgage loans with rates below a target rate for purposes of
managing the interest rate risk associated with these loans.
Servicing rights were retained on the loans sold.  The
Corporation continues to utilize the secondary market as a means
of offering competitively priced mortgage loan products without
retaining the interest rate risk associated with long term, fixed
rate product.

     Trust income increased 21.11% from 1994 to 1995 and 24.45%
from 1993 to 1994.  This is an area that the Corporation expects
to continue to develop and aggressively grow in the future.

     Losses on investments held in the maturity portfolio during
1995 and 1994 occurred as a result of calls on municipal bonds in
the portfolio.  These losses totaled $11,000 during 1995 and
9,000 during 1994.  Net gains were realized on securities
available for sale during 1995 totaling $113,000 compared to
losses of $55,000 during 1994 and gains of $1,264,000 during
1993.

     The related income taxes on securities transactions,
including trading and securities available for sale, were $25,000
and  $67,000 for the years ended 1995 and 1993, respectively.  A
tax credit of $15,000 was attributable to securities transactions
for 1994.

OPERATING EXPENSES

     Successful expense control is an essential element in
maintaining the Corporation's profitability.  The table below
details the percentage changes in various categories of expense
for the three years ended 1995, 1994, and 1993.
<TABLE>
<CAPTION>
                                                                
($000s)          1995      %       1994       %       1993      %       1992
                        Change             Change            Change
<S>            <C>      <C>      <C>        <C>     <C>      <C>      <C>
Salaries and   $2,555   12.01%   $2,281     8.98%   $2,093   26.16%   $1,659  
wages                                                                            
Employee          802   20.60%      665    -6.99%      715   46.22%      489    
benefits                       
Net occupancy     552    3.56%      533    -1.48%      541   28.50%      421     
expense                       
Equipment         764   23.62%      618    25.87%      491    8.63%      452     
expense                        
Other           2,950   -0.74%    2,972     1.89%    2,917   39.84%    2,086     
operating                    
expenses
     Total     $7,623    7.84%   $7,069     4.62%   $6,757   32.31%   $5,107     
</TABLE>                        

     Salaries and wages included incentive performance bonuses
tied to earnings performance totalling $343,000 in 1995, $247,000
during 1994 and $129,000 during 1993.   The increase in employee
benefits from 1994 to 1995 was impacted by a higher contribution
to the employees' profit sharing plan and by the purchase of
personal computers for use by employees and directors at home.  A
goal of the  Corporation's subsidized purchase of personal
computers for its employees was to enhance their proficieny and
skill on personal computers and translate that into added
productivity in the workplace.

     A commonly used measure of operating efficiency is the
amount of assets managed per full time equivalent employee (FTE).
The table below depicts assets managed per FTE for each of the
last 3 years compared to the Corporation's peer group as measured
by the most recently available Uniform Bank Performance Report.
<TABLE>
<CAPTION>
($000s)                  1995      1994      1993
<S>                  <C>       <C>       <C>
Total assets         $317,279  $312,963  $267,505
FTEs                    113.0     110.5     118.0
Assets managed per   $  2,808  $  2,832  $  2,267
FTE
                                                
Peer group(1)        $  2,310  $  2,200  $  1,900
                                                
(1)  1995 Peer data as of September 30, 1995
</TABLE>      

Equipment expense increased from 1994 to 1995 due an
increase in depreciation expense and repair and maintenance
expense associated with the Corporation's in-house data
processing system.  During most of 1994 and all of 1993, the
Corporation utilized a third party data processing servicer;
payments for these services were included in other operatng
expenses.

     Other noninterest operating expense includes FDIC insurance
assessments.  The premiums paid during 1995 were impacted by a
reduction of the FDIC insurance premium rate in September and
December on deposits insured by the Bank Insurance Fund (BIF).
Approximately 70% of the Corporation's deposits are insured by
the BIF.  As a result FDIC and other insurance included in other
operating expenses were $430,000, $616,000 and $581,000 in 1995,
1994 and 1993 respectively.

     Approximately 30% of the Corporation's deposits are insured
through the Savings Association Insurance Fund (SAIF) of the FDIC
and continue to be assessed at 23 cents per $100.  These deposits
had been acquired from a thrift in 1992.  However Congress is
currently considering a special, one-time assessment on SAIF-
insured deposits.  If enacted, this assessment could result in a
one-time, pretax charge of up to $500,000, which could be offset
by lower ongoing insurance costs in the future.

FINANCIAL CONDITION

SECURITIES

     The book values of investments as of December 31, 1995 and
1994 are detailed in Footnote 3 of the Notes to the Consolidated
Financial Statements in the Corporation's annual report (Exhibit
B).

     The investment portfolio consists largely of fixed and
floating rate mortgage related securities, predominantly
underwritten to the standards of and guaranteed by the government
agency GNMA and by the government-sponsored agencies of FHLMC and
FNMA.  These securities differ from traditional debt securities
primarily in that they have uncertain maturity dates and are
priced based on estimated prepayment rates on the underlying
mortgages.
<TABLE>
Securities Held to Maturity
December 31, 1995                                    
<CAPTION>                                                                    Over 10 Year
              Maturity <        1-5 Year          6-10 Year         Maturity        Total    
              1 year            Maturity          Maturity
($000s)       Amount     Yield  Amount     Yield  Amount     Yield   Amount   Yield   Amount   Yield
          
<S>             <C>       <C>   <C>         <C>     <C>       <C>   <C>       <C>   <C>         <C>         
U.S.                                                                       
Government
agencies and
corporations    $  -         -  $ 2,269     4.79    $    -       -   $    -       -  $ 2,269    4.79%
States and                                                                 
political
subdivisions      35      9.23      654     8.21     1,145    7.77    3,200   10.43%   5,034    9.53%
(a)
Agency                                                                     
mortgage-
backed
securities       866      0.47    9,094     6.78     3,651    7.36    2,812    8.46%  16,423    6.86%
(b)             
                                                                   
   Total        $901      0.81% $12,017     6.48%   $4,796    7.46%  $6,012    9.51% $23,726    7.23%
                    
</TABLE>                                                                       
(a)  Taxable equivalent
yields
(b)  Maturities of
mortgage-backed                                                                
securities are based on
estimated average life.
                                                                           
<TABLE>
Securities                                                                 
Available for
Sale
 (excluding                                                                
Equity
Securities)
December 31,                                                               
1995
<CAPTION>                                                          
                                                                                                  
                                                  
              Maturity <        1-5 Year          6-10 Year           Over 10 Year           
               1 year           Maturity          Maturity            Maturity           Total
($000s)        Amount    Yield   Amount  Yield     Amount   Yield      Amount   Yield   Amount Yield
<S>              <C>      <C>   <C>       <C>     <C>        <C>      <C>        <C>   <C>      <C>
U. S.            $  -        -  $   101   5.89%   $     -       -     $     -       -  $   101  5.89%
Treasury   
securities
U.S.                                                                       
Government
agencies
and                 -        -   11,695   6.41%         -       -         967    9.58% $ 12,662  6.65%
corporations 
                                                                 
Agency                                                                     
mortgage-
backed
securities        129     6.16%  43,596   7.04%    14,756    7.62%     10,869    8.38%   69,350  7.37%
(b)            
                                                                   
States and                                                                 
political
subdivisions        -        -      679   6.62%     6,157    7.18%     11,536    7.71%   18,372  7.49%
(a)                                                               
Mortgage              
derivative          -        -        -      -          -       -       9,378    7.45%    9,378  7.45%
securities
   Total fair    $129     6.16% $56,071   6.90%   $20,913    7.49%    $32,750    7.91% $109,863  7.31%
   value          
                                                                 
   Amortized                   
   cost          $131           $56,093           $20,796             $32,334          $109,354
                                                               
(a)  Taxable equivalent
yields
(b) Maturities of
mortgage-backed                                                                     
securities are based on
estimated average life.
</TABLE>
   
   The mortgage derivative securities consist solely of
collateralized mortgage obligations (CMOs) including one
principal-only CMO issued by FNMA with a book value of $267,000
and a market value of $209,000.  The remaining CMOs are privately
issued.  Credit risk on privately issued CMOs is evaluated based
upon independent rating agencies and on the underlying collateral
of the obligation.  At December 31, 1995, the Corporation held
one CMO issued by Prudential Home Mortgage with a book value of
$3,046,000 and a market value of $3,073,000.

     The state and political subdivision portfolio includes
approximately $1.9 million zero coupon revenue bonds.  These
bonds are purchased at a significant discount to par value and
the income recognized on the bonds is derived from the accretion
of the discount using a method that approximates a level yield.

MARKETABLE EQUITY SECURITIES

     The Corporation held marketable equity securities in its
investment portfolio as of December 31, 1995.  In accordance with
regulatory requirements, all equity securities were transferred
to Securities Available for Sale on January 1, 1994 because these
securities do not have a stated maturity.  Current accounting
principles require that marketable equity securities be recorded
at the lower of cost or market value with a corresponding
adjustment to reduce shareholders' equity if market value is
lower than cost.  At December 31, 1995 and 1994, estimated market
values approximated original cost.
<TABLE>
<CAPTION>                                
                                                          Taxable
                                                         Equivalent                    
December 31, 1995 ($000s)         Cost     Market Value     Yield
<S>                             <C>              <C>        <C>
Federal Home Loan Bank stock    $1,844           $1,844     6.82%
           
Corporate Stock                    215              215     4.57%
                                         
Federal Reserve Bank               187              187     6.00%
Stock                                    
                                $2,246           $2,246          
                                       
                                         
                                                          Equivalent
December 31, 1994 ($000s)         Cost     Market Value      Yield

Federal Home Loan Bank stock    $1,724           $1,724     6.38%

Corporate Stock                    155              155     2.74%
                                         
Federal Reserve Bank               187              187     6.00%
Stock                                    
                                $2,066           $2,066         
</TABLE>                                       
                                                    
LOANS AND LEASES

     The following table shows the history of commercial and
consumer loans and leases by major category at December 31.
<TABLE>
<CAPTION>

($000s)                         1995      1994      1993      1992     1991
<S>                         <C>       <C>       <C>       <C>       <C>
Commercial loans:                                                        
Real estate construction    $  1,530  $  1,801  $  2,081  $    973  $   771
Acceptances of other banks         -         -         -         -        -
Real estate mortgage          28,744    23,701    21,211    19,184   20,817
Commercial, financial                                                    
  and agricultural            50,532    38,983    25,317    19,568    9,424
Direct financing leases            3         5         9        58      476
   Total commercial loans   $ 80,809  $ 64,490  $ 48,618  $ 39,783  $31,488
                                                                         
Consumer  loans:                                                         
Residential mortgage        $ 69,999  $ 76,094  $ 70,301  $ 65,536  $38,720
Installment loans              6,959     5,116     5,281     7,535    6,538
Credit card and other          2,190     1,396     1,032     1,123    1,309
consumer
   Total consumer loans     $ 79,148  $ 82,606  $ 76,614  $ 74,194  $46,567
                                                                         
Total loans and leases      $159,957  $147,096  $125,232  $113,977  $78,055
</TABLE>

An analysis of maturity and interest rate sensitivity of business
loans at the end of 1995 follows:
<TABLE>
<CAPTION>
                                 Under   1 to 5   Over 5         
($000s)                          1 Year  Years    Years    Total
<S>                              <C>     <C>     <C>     <C>
Domestic loans:                                                
Real estate construction         $ 1,213 $     4 $   313 $ 1,530
Real estate mortgage              17,813   4,247   6,684  28,744
Commercial, financial                                          
  and agricultural                35,193   9,932   5,407  50,532
Direct financing leases                0       3               3
   Total business loans (a)      $54,219 $14,186 $12,404 $80,809
                                                               
Rate sensitivity:                                              
Predetermined rate               $ 4,200 $ 5,272 $12,224 $21,696
Floating or adjustable rate       50,019   8,914     180  59,113
   Total domestic business loans $54,219 $14,186 $12,404 $80,809
                                                               
Foreign loans                          0       0       0      0
                                                              
(a) does not include nonaccrual loans
</TABLE>

PROVISION AND ALLOWANCE FOR POSSIBLE LOAN LOSSES

     The Corporation, as part of its philosophy of risk
management, has established various credit policies and
procedures intended to minimize the Corporation's exposure to
undue credit risk.  Credit evaluations of borrowers are performed
to ensure that loans are granted on a sound basis.  In addition,
care is taken to minimize risk by diversifying specific industry.
Credit risk is continuously monitored by Management through the
periodic review of individual credits to ensure compliance with
policies and procedures.  Adequate collateralization, contractual
guarantees, and compensating balances are also utilized by
Management to mitigate risk.

     Management determines the appropriate level of the allowance
for possible loan losses by continually evaluating the quality of
the loan portfolio.  The reserve is allocated to specific loans
that exhibit above average credit loss potential based upon their
payment history and the borrowers' financial conditions.
Management maintains a watch list of substandard loans for
monthly review.  Although several of these loans are not
delinquent and may be adequately secured, Management believes
that due to location, size, or past payment history, it is
necessary to monitor these loans monthly.

     The allowance for possible loan losses totaled $2,703,000,
or 1.69% of total loans and leases at December 31, 1995.  At the
end of the previous year, the allowance for possible loan losses
was $1,537,000, or 1.04% of total loans and leases.  The
provision charged to expense during 1995 was $1,150,000 compared
to $805,000 in the year ago period.

     Management's allocation of the allowance for possible loan
losses for the past four years based on estimates of potential
future loan loss is set forth in the table below:
<TABLE>
<CAPTION>                                       
                                          % of             % of             % of              % of
                                          Total            Total            Total             Total
($000s)                            1995   Loans     1994   Loans     1993   Loans      1992   Loans
<S>                            <C>        <C>   <C>        <C>   <C>        <C>    <C>        <C>
Specific reserves:                                                                    
Commercial                     $    310   0.19% $     10   0.01% $    960   0.77%  $    370   0.32%
                                          
Mortgage                             10   0.01%        5   0.00%       38   0.03%        51   0.04%
                                        
Consumer                              5   0.00%        7   0.00%       21   0.02%        41   0.04%
                                    
Criticized loans without                                                              
   specific allocation              414   0.26%      315   0.21%      160   0.13%       153   0.13%
                                        
Provision for loan categories                                                         
   based on historical loss                                                           
   experience:                                                                        
Commercial                        1,344   0.84%      687   0.47%      335   0.27%       284   0.25%
                                        
Commercial real estate              152   0.10%      103   0.07%        7   0.01%        10   0.01%
                                        
Residential mortgage                325   0.20%      298   0.20%       28   0.02%        29   0.03%
                                        
Consumer                            143   0.09%      112   0.08%       68   0.05%        86   0.08%
                                        
     Total                     $  2,703   1.69% $  1,537   1.04% $  1,617   1.29%  $  1,024   0.90%
                                    
                                                                                      
Total loans and leases         $159,957         $147,096         $125,232          $113,977     
outstanding
</TABLE>

     The allocation of the loan loss reserve in the manner
described above is not available for 1991.

     The following table sets forth the five year historical
information on the reserve for loan losses:
<TABLE>
ALLOWANCE FOR POSSIBLE LOAN LOSSES
<CAPTION>
Five year history                                                       
                                                                        
($000s)                          1995      1994      1993      1992     1991
<S>                            <C>       <C>       <C>       <C>      <C>
Balance as of January 1        $1,537    $1,617    $1,024    $1,013   $  891
Provision of loan losses                                                
                                1,150       805       577       405      125
Adjustment incident to                                                  
acquisition                         -         -         -         4        -
Loans charged off:                                                      
  Real estate                                                           
                                   25        49        19        13       19
  Commercial                                                            
                                    -       806         -        59        6
  Consumer                                                              
                                   26        85        15        25       22
   Direct financing leases                                              
                                    -         -         -       340        -
Total loans charged-off                                                 
                                   51       940        34       437       47
                                                                        
Recoveries of loans                                                     
previously
charged-off:                                                            
   Real estate                      3        18         -         2        9
  Commercial                                                            
                                    1        29        21        22       19
  Consumer                                                              
                                   18         7        11         6       16
  Direct financing leases                                               
                                   45         1        18         9        -
Total recoveries                                                        
                                   67        55        50        39       44
Net charge-offs (recoveries)                                            
                                  (16)      885       (16)      398        3
Balance at December 31         $2,703    $1,537    $1,617    $1,024   $1,013
</TABLE>                                                                        

<TABLE>
<CAPTION>
($000s)                           1995      1994      1993      1992     1991
<S>                           <C>       <C>       <C>       <C>       <C>
Loans and leases outstanding                                            
   at December 31             $159,957  $147,096  $125,232  $113,977  $78,055
Allowance as a percent of                                               
loans
   and leases outstanding         1.69%     1.04%     1.29%     0.90%    1.30%
Average loans and leases      $152,502  $134,952  $120,218  $ 95,489  $76,333
                             
Net charge-offs as a percent                                            
of average loans and leases      -0.01%     0.66%    -0.01%     0.42%    0.00%
</TABLE>

     The following schedule shows the amount of under-performing
assets and loans 90 days or more past due but accruing interest.
<TABLE>
<CAPTION>
UNDER-PERFORMING ASSETS                                
($000s)                          1995      1994      1993
<S>                              <C>     <C>       <C>
Nonaccrual loans and leases      $162    $  478    $2,358
Loans 90 days or more past                             
due but accruing interest          14        11       436
Other real estate owned           579       586        69
   Total                         $755    $1,075    $2,863
</TABLE>

     In addition to the above schedule of non-performing assets,
Management prepares a watch list consisting of loans over
$100,000 which Management has determined require closer
monitoring to further protect the Corporation against loss.  The
balance of loans classified by Management as substandard due to
delinquency and a change in financial position at the end of 1995
and not included in the table above was $787,000.  There are no
other loans classified for regulatory purposes that would
materially impact future operating results, liquidity or capital
resources or which management doubts the ability of the borrower
to comply with loan repayment terms.

DEPOSITS

     Primarily core deposits are used to fund interest-earning
assets.  The Corporation has a lower volume of interest-free
checking accounts than its peer group which is typical for its
market area.  This results in an overall higher cost of funds
than peer average.  The accompanying tables show the relative
composition of the Corporation's average deposits and the change
in average deposit sources during the last three years.
<TABLE>
<CAPTION>
AVERAGE DEPOSITS ($000s)           1995       1994      1993
<S>                            <C>        <C>       <C>
Demand                         $ 25,819   $ 24,797  $ 21,093
                                 
Interest bearing checking        25,953     26,764    30,895
                                 
Savings                          78,679     95,655    85,865
                                 
Other time                      108,578     89,431    96,045
                                
Certificates-$100,000 and        12,751     10,229    10,661
over                             
   Total average deposits      $251,780   $246,876  $244,559
</TABLE>                              

<TABLE>
<CAPTION>
                                                           
DISTRIBUTION OF AVERAGE           1995       1994      1993
DEPOSITS
<S>                              <C>        <C>       <C>
Demand                           10.26%     10.04%    8.63%
Interest bearing checking        10.31%     10.84%   12.63%
Savings                          31.25%     38.75%   35.11%
Other time                       43.12%     36.23%   39.27%
Certificates-$100,000 and         5.06%      4.14%    4.36%
over
   Total                        100.00%    100.00%  100.00%
                                                           
CHANGE IN AVERAGE                                          
   DEPOSIT SOURCES ($000s)  1994 to 1995  1993 to 1994            
                           
Demand                        $  1,022    $ 3,704         
                                  
Interest bearing checking                                  
                                  (811)    (4,131)
Savings                                                    
                               (16,976)     9,790
Other time                                                 
                                19,147     (6,614)
Certificates-$100,000 and                                  
over                             2,522       (432)
   Total                      $  4,904    $ 2,317         
</TABLE>                                  

Average deposits increase 1.99% from 1994 to 1995.  The mix
of deposits is directly affected by the interest rate
environment.  During periods of low interest rates, customers
tend to maintain their balances in savings accounts.  As deposit
rates increase, funds flow from savings deposits to time
deposits.  As part of its asset/liability strategy during 1995,
the Corporation offered several certificate of deposit promotions
to extend maturities on deposits.  This resulted in a decrease in
average savings balances and an increase in average time
balances.

BORROWINGS

     Other sources of funds for the Corporation include short-
term repurchase agreements and Federal Home Loan Bank borrowings.
Borrowings at the Federal Home Loan Bank are utilized to match
the maturities of selected loans and to leverage the capital of
the Corporation to enhance profitability for shareholders.

CAPITAL RESOURCES

     At December 31, 1995, shareholders' equity was $25,164,000
compared to $20,214,000 at December 31, 1994, an increase of
$4,950,000 or 24.49%.  The increase in capital during 1995 was
due to retention of earnings and the increase in market value of
Securities Available for Sale.

     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% of risk-weighted assets and total capital of 8.0% of 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 loan losses.  At December 31, 1995,
the Corporation had a Tier 1 capital ratio of  13.07% and a
total capital ratio of 14.59%, well above the regulatory
minimum requirements.

     The following table shows several capital and liquidity
ratios for the last three years:
<TABLE>
<CAPTION>
December 31                     1995   1994   1993
<S>                             <C>    <C>    <C>
Average shareholder's equity                       
to :
  Average assets                7.34%  6.87%  6.76%
  Average deposits              9.07%  8.05%  7.39%
  Average loans and leases     14.97% 14.73% 15.04%
Primary capital                 8.78%  6.95%  7.84%
Risk-based capital ratio:                          
   Tier 1                      13.07% 12.26% 12.82%
   Total                       14.59% 13.21% 14.04%
Leverage ratio                  7.39%  6.33%  6.42%
</TABLE>

     National banks must maintain a total assets leverage
ratio of at least 3.0%.  The total assets leverage ratio is
calculated by dividing capital less intangibles into assets,
net of intangibles.  In many cases, regulators require an
additional cushion of at least 1.0% to 2.0%.  At December 31,
1995, the Corporation's Tier One leverage ratio was 7.39%.

     The following table presents dividend payout ratios for the
past three years.
<TABLE>
<CAPTION>
                                1995   1994   1993
<S>                            <C>    <C>    <C>
Total dividends declared                           
  as a percentage of net       25.77% 27.18% 30.36%
income
Common dividends declared                          
  as a percentage of earnings     
  per common share             24.36% 25.37% 28.05%
</TABLE>

     Currently there are no known trends, events or
uncertainties that would have a material effect on the
Corporation's liquidity, capital resources or results of
operations.

LIQUIDITY AND INTEREST RATE SENSITIVITY

     The Corporation meets its liability based needs through the
operation of Belmont National Bank's branch banking network that
gathers demand and retail time deposits.  The Bank also acquires
funds through repurchase agreements and overnight federal funds
that provide additional sources of liquidity.  Total deposits
decreased by $9.1 million, or 3.55%, from the end of 1994 to
1995.  Short term borrowings increased by $3.2 million over the
same period.  Average deposits increased 1.99% during 1995
compared to 1994.

     The Corporation also has unused lines of credit with various
correspondent banks totaling $10.4 million which may be used as
an alternative funding source.

INTEREST RATE SENSITIVITY

     The Corporation's net interest revenue can be vulnerable to
wide fluctuations arising from a change in the general level of
interest rates to the degree that the average yield on assets
responds differently to such a change than does the average cost
of funds.  To maintain a consistent earnings performance, the
Corporation actively manages the repricing characteristics of its
assets and liabilities to control net interest income rate
sensitivity.

     The mismatching of asset and liability repricing
characteristics in specific time frames is referred to as
interest rate sensitivity gaps.  Mismatching or "gapping" can be
profitable when the term structure of interest rates (the yield
curve) is positive, i.e. short term yields are lower than long
term yields, but gapping entails an element of risk, particularly
in volatile markets.  An institution is said to have a negative
gap when its liabilities reprice in a shorter time period than
its assets.  A positive gap exists when assets reprice more
quickly than liabilities.  A negative gap in a period when the
general level of interest rates is declining will produce a
larger net interest income spread than would be the case if all
assets and liabilities were perfectly matched.  Conversely, net
interest income will be adversely affected by a negative gap
position in a period when the general level of interest rates is
rising.  Gaps, therefore, must be prudently managed.

     The Corporation examines its interest rate sensitivity
position by categorizing the balance sheet into respective
repricing time periods similar to those shown on the accompanying
table.  Repricing of certain assets, such as installment loans,
mortgage loans and leases, is based upon contractual amortization
or repricing, although experience indicates that they reprice
more quickly due to early payoffs.  Mortgage-backed securities
are included in maturity/repricing categories based upon
historical prepayment speeds.  Based upon historical deposit rate
relationships, savings and interest bearing checking are
partially included in the non-rate sensitive category since rate
changes on these products are not completely sensitive to
fluctuations in the interest rate environment.

     Asset/liability management encompasses both interest rate
risk and liquidity management.  The resulting net cumulative gap
positions reflect the Corporation's sensitivity to interest rate
changes over time.  The calculation is a static indicator and is
not a net interest income predictor of a dynamic business in a
volatile environment.  As a static indicator, the gap methodology
does capture major trends.
<TABLE>
<CAPTION>
Rate Sensitivity                                                                              
Analysis
December 31, 1995                                                                             
                      Maturing or repricing
                  
                                                                                      
                                                                                       Non-rate    
                                                                Total                  Sensitive
                                 31-90    91-180   181-365      1 year          1-5     & over       
                     1-30 days    days      days      days      & under       years     5 years     Total
                        
<S>                    <C>     <C>        <C>       <C>         <C>         <C>        <C>        <C>                    
Interest earning                                                                              
assets:
Loans and leases       $43,672 $ 9,688    $ 6,851   $13,783     $ 73,994    $ 28,496   $ 57,467   $159,957
                      
Investment securities      697   3,703      1,106     1,678        7,184       6,608      9,934     23,726
                          
Securities available     2,681   1,628      6,688     6,908       17,905      39,496     54,708    112,109
for sale                 
   Total interest      $47,050 $15,019    $14,645   $22,369     $ 99,083    $ 74,600   $122,109   $295,792
earning assets       
                                                                                              
Interest bearing                                                                              
liabilities:
Interest checking      $     -  $    -  $       - $       -   $        -  $        -   $ 27,193   $ 27,193
                        
Savings                 21,145       -          -         -       21,145           -     57,738     78,883
                       
Certificates-$100,000    2,360   1,266      3,410     3,205       10,241       1,327        309     11,877
and over                 
Other time               6,498  16,185     23,621    24,050       70,354      24,877      7,172    102,403
                         
Short term borrowings   38,665       -          -         -       38,665           -          -     38,665
                       
Long term debt               -       -          -         -            -       4,802          -      4,802
                       
Total interest        $ 68,668 $ 17,451  $ 27,031  $ 27,255     $140,405    $ 26,204   $ 92,412   $259,021
bearing liabilities    
Rate sensitivity gap  $(21,618)  (2,432) $(12,386)   (4,886)    $(41,322)   $ 48,396   $ 29,697   $ 36,771
                                         
Cumulative gap        $(21,618)$(24,050) $(36,436) $(41,322)                $ 7,074    $ 36,771           

Cumulative gap as a                                                                           
percentage of
interest earning         -7.31%   -8.13%   -12.32%   -13.97%                   2.39%      12.43%           
assets
</TABLE>                                                                       

Interest bearing checking and savings deposits that have no
contractual maturity are scheduled in the table above according
to Management's best estimate of their repricing sensitivity to
changes in market rates.  If all of these deposits had been
included in the 1-30 days category above, the cumulative gap as a
percentage of earning assets would have been negative 36.02%,
36.84%, 41.03%, 42.68%, 26.32% and positive 12.43%, respectively,
for the 1-30 days, 31-90 days, 91-180 days, 181-365 days, 1-5
years, and greater than 5 years categories at December 31, 1995.

     In January 1996, the maturity of $10 million included in
short term borrowings was extended to one year and an additional
$10 million was extended to two years.

ITEM 8 - FINANCIAL STATEMENTS & SUPPLEMENTARY DATA

     The annual report of Belmont Bancorp. is hereby incorporated
by reference and appears as Exhibit B. Management's report on
their responsibility for financial reporting is included in the
Corporation's annual report.

ITEM 9 - DISAGREEMENT OF ACCOUNTING AND FINANCIAL DISCLOSURE

     None.

                            PART III

ITEM 10 - DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT


The information appearing in Belmont Bancorp.'s definitive proxy
statement dated March 15, 1996 (Exhibit C) is incorporated by
reference in response to this item.

EXECUTIVE OFFICERS OF THE REGISTRANT AS OF JANUARY 1, 1996:

Name                    Age               Position
J. Vincent Ciroli, Jr.  50                President and Chief
                                          Executive, Officer,
                                          Belmont Bancorp. &
                                          Belmont National Bank

William Wallace         40                Vice President, Belmont Bancorp.;
                                          Executive Vice President & Chief
                                          Operating Officer,
                                          Belmont National Bank

Jane R. Marsh           34                Secretary, Belmont Bancorp.;
                                          Senior Vice President,
                                          Controller & Cashier, Belmont
                                          National Bank

     Each of the officers listed above has been an executive
officer of the Corporation or one of its subsidiaries during the
past five years.

ITEM 11 - EXECUTIVE COMPENSATION

     The information appearing in Belmont Bancorp.'s definitive
proxy statement dated March 15, 1996 (Exhibit C) is incorporated
by reference in response to this item.

ITEM 12 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT

     The information appearing in Belmont Bancorp.'s definitive
proxy statement dated March 15, 1996 (Exhibit C) is incorporated
by reference in response to this item.

ITEM 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     The information appearing in Belmont Bancorp.'s definitive
proxy statement dated March 15, 1996 (Exhibit C) is incorporated
by reference in response to this item.
                           
                           SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned,
thereunto duly authorized on March 19, 1996.

By  Terrence A. Lee, Chairman                       BELMONT BANCORP
    Terrence A. Lee, Chairman                       (Registrant)

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

John A. Belot                John A. Belot            Director
Vincent Ciroli, Jr.          J. Vincent Ciroli, Jr.   Director,President & CEO.
                                                      Belmont Bancorp.,
                                                      Belmont National Bank
Samuel Mumley                 Samuel Mumley           Director
Mary L. Holloway Haning       Mary L. Holloway Haning Director
Charles J. Kaiser, Jr.        Charles J. Kaiser, Jr.  Director
John H. Goodman, II           John H. Goodman, II     Director
Dana Lewis                    Dana Lewis              Director
Jane R. Marsh                 Jane R. Marsh           Secretary, Belmont
                                                      Bancorp. and Sr.
                                                      Vice President,
                                                      Controller & Cashier, 
                                                      Belmont National Bank
James Miller                  James Miller            Director
W. Quay Mull, II              W. Quay Mull, II        Director
Tom Olszowy                   Tom Olszowy             Director
Keith Sommer                  Keith Sommer            Director
William Wallace               William Wallace         Director & Vice
                                                      President, Belmont 
                                                      Bancorp.;
                                                      Executive Vice
                                                      President & COO,
                                                      Belmont National Bank
Charles A. Wilson, Jr.        Charles A. Wilson, Jr.  Vice Chairman

Terrence A. Lee                                       Chairman of the
                                                      Board
Terrence A. Lee                                       March 19, 1996
<PAGE>

INDEX TO EXHIBITS

Exhibit 1 - Consent of Independent Certified Public Accountants
Exhibit 2 - Belmont Bancorp.'s 1995 Annual Report to Shareholders
Exhibit 3 - Belmont Bancorp.'s Proxy Statement to Shareholders, dated
            March 15, 1996
Exhibit 27 - Financial Data Schedule

<PAGE>