SECURITIES AND EXCHANGE COMMISSION
                    WASHINGTON, DC 20549


                          Form 10-Q/A
          Quarterly Report Under Section 13 or 15(d)
            of The Securities Exchange Act of 1934


For  the Quarter Ended March 31, 1998 Commission file number   0-16213
                                                              ---------
                        GBC BANCORP                         
(Exact name of registrant as specified in its charter)

         California                                95-3586596
---------------------------------            ----------------------------
(State  or  other jurisdiction of                    (I.R.S.
  incorporation or organization)             Employer Identification No.)


  800 West 6th Street, Los Angeles,  California               90017
------------------------------------------------          ------------
(Address of principal executive offices)                   (Zip code)

Registrant's telephone number, including area code   (213)972-4172

Former  name  address and former fiscal  year,  if  changed 
since last report.

      Indicate by check mark whether the registrant (1)  has
filed  all  reports required to be filed by  Section  13  or
15(d)  of  the  Securities Exchange Act of 1934  during  the
preceding  12  months (or for such shorter period  that  the
registrant was required to file such reports), and  (2)  has
been  subject to such filing requirements for  the  past  90
days.
Yes      X        No 
     ---------        --------

      Indicate the number of shares outstanding of  each  of
the issuer's classes of common stock, as of the close of the
period covered by this report.

     Common stock, no par value, 7,071,849 shares issued and
outstanding as of  March 31, 1998.






Part I Item 2 of the Quarterly Report filed by the Registrant for the Quarter
ended March 31, 1998 is hereby amended to read in its entirety as follows:


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

OVERVIEW
---------

      For the quarter ended March 31, 1998, net income totaled  $6,631,000, 
an increase of $887,000, or 15.4% from the $5,744,000 earned during the 
corresponding period of 1997.  Diluted earnings per share for the quarter  
ended March 31, 1998 were $0.46 per share compared to $0.41 per share for 
the same period of 1997.

      The increase over the corresponding period of a year ago is primarily 
due to an increase of net interest income and the decrease of the provision 
for credit losses.

      The increase of net interest income was due to an increase of average 
earning assets partially offset by a reduction in the net interest spread.  
The net interest spread is defined as the yield on earning assets less the
rates paid on interest bearing liabilities.  The net interest spread 
declined to 3.57% for the quarter ended March 31, 1998 from 4.00% for the 
corresponding period of a year ago.

      There was no provision for credit losses in the first quarter of 1998.  
This compares to $1,000,000 of  provision recorded during the first quarter 
of 1997.  The decline of the provision for  credit losses in 1998 is  
primarily a reflection of the decrease in net charge-offs.

     The annualized return on average assets ("ROA") for the Company was  
1.75% and 1.73% for the quarters ended March 31, 1998  and  1997,  
respectively.  The annualized return on average stockholders' equity ("ROE") 
for the quarters ended March 31, 1998 and 1997 was 17.8% and 19.6%, 
respectively.  The slight increase of the ROA reflects the increased 
profitability.  The decline of the ROE reflects the 26.5% growth of average 
stockholders equity primarily resulting from the profitability of the Company 
during the twelve-month period ended March 31, 1998.

      The Board of Directors of the Company declared a two-for-one stock 
split to shareholders of record on April 30, 1998.  The shares will be issued 
and distributed on May 15, 1998.  Basic and diluted earnings per share for the 
quarters ended March 31, 1998 and 1997 reflect the impact of the stock split.

RESULTS OF OPERATIONS
----------------------
Net Interest Income
--------------------

      For the quarters ended March 31, 1998 and 1997, net interest income 
before the provision for credit losses was $15,969,000 and $14,684,000, 
respectively, representing an increase of $1,285,000, or 8.8%.  The components 
explaining this increase are discussed below.

Interest Income
-----------------

      Total interest income for the quarter ended March 31, 1998 was 
$29,686,000 compared to $25,734,000 for the corresponding period of a year 
ago.  The increase of $3,952,000, or 15.4%, was due to an increase of average 
earning assets.  For the quarter ending March 31, 1998 and 1997, average 
earning assets were $1,476 million and $1,276 million, respectively, 
representing a $200 million, or 15.7%, growth.  For the quarters ending March 
31, 1998 and 1997, the yield on earning assets was 8.16% and 8.18%, 
respectively, representing a 2-basis point decrease.

      The $200 million growth of average earning assets from the period ended
March 31, 1997 was the result of increases in all categories of earning 
assets except for the lowest yielding asset (federal funds sold and securities 
purchased under agreements to resell) which reflected a modest decline.  
Average loans and leases increased $49.0 million and securities increased 
$152.0 million.  Excluding the average balance of $46.1 million of loans to 
depository institutions during the first quarter of 1997, the average loan 
growth was $95.1 million.

      The slight decrease in the yield on average earning assets had a minor 
impact on interest income.  The 2-basis point decline was the result of a 
decline in the yield on loans, excluding the loans to depository institutions. 
For 1997, this yield was 10.69% compared to 10.32% for 1998.  This decline was 
offset by the elimination of lower-yielding loans to depository institutions 
in 1998 and a 9-basis point increase in the securities portfolio from 6.39% 
for the quarter ended March 31, 1997 to 6.48% for the quarter ended March 31, 
1998. This increased yield in the securities portfolio was the result of an 
increased average investment in higher yielding asset backed securities as a 
percentage of the total average securities portfolio.  For the quarters ended 
March 31, 1998 and 1997, these securities represented 22.7% and 12.0%, 
respectively, of the average total securities portfolio.  The asset backed 
securities owned by the Bank are all AAA-rated and are collateralized with 
home equity mortgages.

Interest Expense
------------------

      Total interest expense for the quarter ended March 31, 1998 was 
$13,717,000 compared to $11,050,000 for the corresponding period of a year 
ago.  The increase of $2,667,000, or 24.1%, was due to both the increase of 
average interest-bearing liabilities and an increase in the cost of funds.  
Average interest-bearing deposits were $1,173 million and $1,056 million for 
the quarter ended March 31, 1998 and 1997, respectively, representing a 
$116.9 million, or 11.1%, increase.  Higher yielding certificates of deposit 
represented the greatest increase of $125.8 million.  Interest bearing demand 
also increased by $13.6 million.  These increases were partially offset by a 
decline of $22.5 million in savings deposits.

      The rates paid on interest bearing deposits increased by 35-basis points 
from 4.09% in 1997 to 4.44% in 1998.  There were two reasons for the increase.  
First, there was an increased percentage of average time deposits to total
average interest-bearing deposits.  For the quarters ended March 31, 1998 and 
1997, average time deposits were 72.1% and 68.1% of average interest-bearing    
deposits, respectively.  Time deposits represent the most costly deposit 
product for the Bank.

      Second, the rates paid on the different categories of interest-bearing 
deposits increased.  For the quarters ended as indicated, average balance and 
rates paid for the deposit categories were as follows:


<TABLE>
                                        For the Quarter Ended March 31,
(Dollars in Thousands)                       1998             1997

<S>                                    <C>             <C>
                                       --------------    ------------     
Interest bearing demand - Average 
  balance                                    232,803         219,166
Rate                                            2.39%           2.14%
                                                
Savings - Average balance                     95,070         117,588
Rate                                            2.76%           2.64%
                                                
Time certificates of deposit of 
  $100,000 or more - Average balance         595,894         549,095
Rate                                            5.28%           5.01%
                                                
Other time deposits - Average balance        249,417         170,416
Rate                                            4.97%           4.64%
</TABLE>



     The cost of funds for the quarters ended March 31, 1998 and 1997 was 
4.59% and 4.18%, respectively, an increase of 41-basis points.  In addition to 
the increased rates paid on deposits and the composition of the deposit 
products, as discussed above, the increase in the average amount of 
subordinated debt further increased interest expense.  For the quarters ended 
as indicated, the average balance and cost of funds for subordinated debt were 
as follows:

                                       For the Quarter Ended March 31,
                                            1998             1997
                                       --------------    ------------
        Average Balance                      $38,756         $15,000
                                           
        Cost of Funds                           8.98%          10.64%


      The net interest spread, defined as the yield on earning assets less the
rates paid on interest-bearing liabilities, declined to 3.57% for the quarter  
ended March 31, 1998 from 4.00% for the corresponding period of a year ago.   
The reduction is primarily due to the increased cost of funds, as explained 
above.

      The net interest margin defined as the annualized difference between 
interest income and interest expense divided by average interest earning 
assets, decreased to 4.39% for the quarter ended March 31, 1998, from 4.67% 
for the corresponding period of a year ago.  The compression of the margin is 
primarily due to the 43-basis point reduction of the net interest spread.

Provision for Credit Losses
----------------------------

      For the quarter ended March 31, 1998, there was no provision for credit 
losses compared to $1,000,000 for the same period of 1997, a decrease of 
$1,000,000.

      The decline of the provision for credit losses in 1998 was primarily 
caused by the improved credit quality of the loan portfolio and a decrease of 
net charge-offs.  For the quarters ending March 31, 1998 and 1997, net 
charge-offs were $0.9 million and $2.0 million, respectively.  As of March 31, 
1998, non-performing loans totaled $34.3 million compared to $36.4 million, 
as of March 31, 1997.

      The amount of the provision for credit losses is determined by management 
and is based upon the quality of the loan portfolio, management's assessment of 
the economic environment, evaluations made by regulatory authorities, 
historical loan loss experience, collateral values, assessment of borrowers' 
ability to repay, and estimates of potential future losses.  Please refer to 
the discussion "Allowance for Credit Losses", following.


Non-Interest Income
--------------------

      Non-interest income for the quarter ended March 31, 1998 totaled 
$1,773,000 compared to $1,524,000 for the same period ended March 31, 1997.  
The net increase of $249,000, or 16.3%, was primarily attributable to an 
increase in escrow fees and the receipt of $125,000 of interest on a 1992 tax 
refund.


Non-Interest Expense
----------------------

      Non-interest expense for the quarter ended March 31, 1998 totaled 
$7,304,000, a $514,000, or 7.6%, increase over the $6,790,000 recorded in the 
same period of 1997.  The increase was due to a $526,000, or 14.0%, increase 
in salaries and employee benefits.  The increase was due to increased salaries 
and a higher profit sharing accrual caused by a higher level of pre-tax 
earnings.  Other expense decreased $180,000 primarily as a result of a 
$139,000 decrease in legal fees.

      For the quarter ended March 31, 1998, the Company's efficiency ratio, 
defined as non-interest expense divided by the sum of net interest income plus 
non-interest income, declined to 41.2%, comparing favorably to 41.9% for the
corresponding period of 1997.


Provision for Income Taxes
---------------------------

        For the quarter ended March 31, 1998 the provision for income taxes was 
$3,807,000, representing 36.5% of pre-tax income.  The provision for the 
quarter ended March 31, 1997 was $2,674,000, representing 31.8% of pre-tax 
income.  The higher effective tax rate of the current quarter was mainly due 
to the increase in taxable earnings compared to the corresponding period of 
a year ago while the low income housing tax credit remained constant.


FINANCIAL CONDITION
----------------------

      Total assets as of March 31, 1998, were $1,572 million representing a 
$62.1 million, or 4.1%, increase from total assets of $1,509 million as of 
December 31, 1997.  As of March 31, 1998, total deposits were $1,352 million 
representing a $60.3 million, or 4.7%, increase from total deposits of $1,292 
million as of December 31, 1997.


Loans
------

      As of March 31, 1998, total loans and leases were $673.1 million, 
representing a $34.3 million, or 5.4%, increase from total loans and leases of 
$638.8 million as of December 31, 1997.  The net increase was primarily from 
the growth of trade-financing loans of $15.0 million which are included in 
commercial loans, and the growth of $12.8 million of conventional real estate 
loans.  The growth of trade-financing loans reflects the growth in 
international trade resulting primarily from new customer relationships.

     The $12.8 million increase in conventional real estate loans is the result 
of the take-out financing on three construction loans totaling $13.0 million 
and an additional loan of $8.0 million, net of pay-downs and pay-offs, in the 
first quarter.

     Also contributing to the loan growth was a net increase of $3.4 million of 
construction lending.  Despite the decline of $13.0 million as discussed above, 
there was net growth due to a $9 million disbursement under a new $35 million 
construction loan commitment as well as disbursements under commitments booked 
prior to 1998.

     The following table sets forth the amount of loans and leases outstanding 
by category and the percentage of each category to the total loans and leases 
outstanding:

<TABLE>
                               March 31, 1998          December 31, 1997
                 
(In Thousands)             Amount     Percentage     Amount      Percentage
----------------------------------------------------------------------------
<S>                   <C>             <C>       <C>              <C>                                           
Commercial               $ 253,441       37.6%     $ 233,309        36.5%
Real Estate -            
Construction                93,980       14.0%        90,560        14.2%
Real Estate -           
Conventional               289,124       43.0%       276,350        43.2%
Installment                     38         -              54          -
Other Loans                 21,572        3.2%        23,993         3.8%
Leveraged Leases            14,929        2.2%        14,563         2.3%
                        ----------------------------------------------------
Total                    $ 673,084      100.0%     $ 638,829       100.0%
                        ====================================================                        

</TABLE>

Non-performing Assets
-----------------------

      A certain degree of risk is inherent in the extension of credit.  
Management believes that it has credit policies in place to minimize the level 
of loan losses and non-performing loans.  The Company performs a quarterly 
assessment of the credit portfolio to determine the appropriate level of the 
allowance.  Included in the assessment is the identification of loan 
impairment.  A loan is identified as impaired when it is probable that interest 
and principal will not be collected according to the contractual terms of the 
loan agreement.  Loan impairment is measured by estimating the expected future 
cash flows and discounting them at the respective effective interest rate or by 
valuing the underlying collateral.

       The Company has a policy of classifying loans (including impaired loans) 
which are 90 days past due as to principal and/or interest as non-accrual loans 
unless management determines that the fair value of underlying collateral is 
substantially in excess of the loan amount or circumstances justify treating 
the loan as fully collectible.  After a loan is placed on non-accrual status, 
any interest previously accrued, but not yet collected, is reversed against 
current income and the amortization of any deferred loan fees is stopped.  A 
loan is returned to accrual status only when the borrower has demonstrated the 
ability to make future payments of principal and interest as scheduled, and the 
borrower has demonstrated a sustained period of repayment performance in 
accordance with the contractual terms.  Interest received on non-accrual loans 
generally is either applied against principal or reported as recoveries on 
amounts previously charged-off, according to management's judgment as to the 
collectibility of principal.

      The following table provides information with respect to the Company's 
past due loans, non-accrual loans, restructured loans and other real estate 
owned, net,  as  of the dates indicated:

(IN THOUSANDS)                    March 31, 1998           December 31, 1997
                                         
Loans 90 Days or More                                    
  Past Due and Still Accruing         $ 1,745                   $ 2,778
Non-accrual Loans                      13,309                     9,834
Total Past Due Loans                   15,054                    12,612
Restructured Loans (on                                    
  Accrual Status)                      19,281                    20,323
Total Non-performing                                      
  and Restructured Loans               34,335                    32,935
Other Real Estate Owned, Net            7,204                     7,871
                                   ------------              -------------
Total Non-performing Assets          $ 41,539                  $ 40,806


      Total non-performing assets increased $0.7 million to $41.5 million, as 
of March 31, 1998, from $40.8 million, as of December 31, 1997.  The reason for 
the 1.8% increase was a $3.5 million rise in non-accrual loans from $9.8 
million as of December 31, 1997 to $13.3 million as of March 31, 1998, 
representing a 35.3% increase, offset by reductions in the other categories of 
non-performing assets.

Past-due loans
---------------

      Of the two loans comprising the past-due and still accruing 
classification one is expected to be paid off in the near future and the other 
is anticipated to be renewed with no concessions granted.

Non-accrual loans
-------------------

      Of the $13.3 million of non-accruals, $4.5 million, or 33.5%, are 
collateralized by real property.  In the event the Bank initiates foreclosure 
proceedings, management believes the collateral underlying these loans provides 
substantial protection against the loss of principal.  Commercial loans 
totaling $8.8 million are on non-accrual status as of March 31, 1998.  These 
loans are collateralized by a variety of business assets and the Bank does not 
anticipate any significant losses.

      The increase of non-accrual loans from levels during 1997 is the result 
of a few specific problem credits.  Management does not anticipate an upward 
trend developing in the levels of non-accrual loans during 1998.

      The following table analyzes the increase in non-accrual loans during the 
three months ended March 31, 1998:
                              
                 Non-Accrual Loans (In Thousands)
       ---------------------------------------------------
        Balance, December 31, 1997               $ 9,834
        Add: Loans placed on non-accrual           7,733
        Less: Charge-offs                         (1,099)
              Returned to accrual status          (1,076)
              Repayments                          (1,958)
              Transfer to OREO                      (125)
        Balance, March 31, 1998                   13,309


      The following table breaks out the Company's non-accrual loans by 
category as of March 31, 1998 and December 31, 1997:

<TABLE>
(IN THOUSANDS)                    March 31, 1998           December 31, 1997
-----------------------------------------------------------------------------
<S>                               <C>                        <C>                                        
Commercial                           $  8,837                   $  5,957
Real Estate-Construction                  455                        455
Real Estate-Conventional                4,010                      3,414
Installment                                 7                          8
Total                                $ 13,309                    $ 9,834
</TABLE>

Restructured Loans
-------------------

     As of March 31, 1998, the balance of restructured loans was  $19.3 million 
compared to $20.3 million as of December 31, 1997, representing a $1.0 million 
decrease.  A loan is categorized as restructured if the original interest rate 
on such loan, the repayment terms, or both, are modified due to a deterioration 
in the financial condition of the borrower.  Restructured loans may also be put 
on a non-accrual status in keeping with the Bank's policy of classifying loans 
which are 90 days past due as to principal and/or interest.  Restructured loans 
which are non-accrual loans are not included in the balance of restructured 
loans.  As of March 31, 1998, one loan totaling $685,000 was on non-accrual 
status.  As of March 31, 1998, restructured loans consisted of fourteen real 
estate credits compared to fifteen as of year end 1997.  The weighted average 
yield of the restructured loans as of March 31, 1998 was 10.19%.

      There are no commitments to lend additional funds on any of the 
restructured loans.

Other Real Estate Owned
--------------------------

     As of March 31, 1998, other real estate owned ("OREO"), net of valuation 
allowance of $2.0 million, totaled $7.2 million, representing a decrease of 
$0.7 million, or 8.5%, from the net balance of $7.9 million, net of valuation 
allowance of $2.1 million, as of December 31, 1997.  As of March 31, 1998 and 
December 31, 1997, OREO consisted of 16 properties and 17 properties, 
respectively.

      The OREO properties are all physically located in the Bank's market area. 
They include single family residences, condominiums, commercial buildings, and 
land.  Seven properties comprise the land category of OREO.  The Company does 
not intend to develop these properties; rather, it will sell the land 
undeveloped.

      The following table sets forth the Bank's OREO by property type as of the 
dates indicated:

                                     March 31,             December 31,
(In Thousands)                         1998                     1997    
-----------------------------------------------------------------------------
Property Type                                 
--------------                                              
Single-Family Residential             $   217                  $   380
Condominium                             2,198                    2,598
Multi-Family Residential                    -                      220
Land for Residential                    3,715                    3,715
Land for Agriculture                       15                       15
Retail Facilities                       3,058                    3,003
Less: Valuation Allowance              (1,999)                  (2,060)
                                    -----------              -----------
Total                                 $ 7,204                  $ 7,871
                                    ===========              ===========


Impaired Loans
----------------

      A loan is identified as impaired when it is probable that interest and 
principal will not be collected according to the contractual terms of the 
loan agreement.  Loan impairment is measured by estimating the expected future 
cash flows and discounting them at the respective effective interest rate or 
by valuing the underlying collateral.  Of the $15.4 million of outstanding 
impaired loans as of March 31, 1998, $10.1 million are included in the balance 
of restructured loans and are performing pursuant to the terms and conditions 
of the restructuring.  The following table discloses pertinent information as 
it relates to the Company's impaired loans as of and for the dates indicated:

(IN THOUSANDS)                        March 31, 1998         December 31, 1997
------------------------------------------------------------------------------
Recorded Investment with Related      
  Allowance                                 $15,378                  $16,095
Recorded Investment with no Related           
  Allowance                                       6                    1,022
Total Recorded Investment                    15,384                   17,117
Specific Allowance on Impaired        
  Loans                                       1,380                    1,544

      The average balance of total recorded investment in impaired loans was 
$16.3 million for the three months ended March 31, 1998 and $22.4 million for 
the twelve months ended December 31, 1997.

      For the quarters ended March 31, 1998 and 1997, interest income 
recognized on impaired loans was $355,000 and $564,000, respectively.  Of the 
amount of interest income recognized during the quarters ended March 31, 1998 
and 1997, no interest was recognized under the cash basis method.

      Management cannot predict the extent to which the current economic 
environment, including the real estate market, may continue to improve or 
worsen, or the full impact such environment may have on the Bank's loan 
portfolio.  Furthermore, as the Bank's primary regulators review the loan 
portfolio as part of their routine, periodic examinations of the Bank, their 
assessment of specific credits may affect the level of the Bank's 
non-performing loans.  Accordingly, there can be no assurance that other loans 
will not be placed on non-accrual, become 90 days or more past due, have terms 
modified in the future, or become OREO.

Allowance for Credit Losses
-----------------------------

      As of March 31, 1998, the balance of the allowance for credit losses was  
$15.8 million, representing 2.35% of outstanding loans and leases.  This 
compares to an allowance for credit losses of $16.8 million as of December 31, 
1997, representing 2.63% of outstanding loans and leases.

       The table below summarizes the activity in the allowance for credit 
losses (which amount includes the allowance on impaired loans), for the 
three-month periods ended as indicated:

(IN THOUSANDS)                     March 31, 1998             March 31, 1997
------------------------------------------------------------------------------
Balance, Beginning of Period           $ 16,776                   $ 16,209
Provision for Credit Losses                   -                      1,000
Charge-offs                              (1,099)                    (2,458)
Recoveries                                  171                        455
Net Charge-offs                            (928)                    (2,003)
                                     ------------               ------------
Balance, End of Period                 $ 15,848                   $ 15,206
                                     ============               ============

      As of March 31, 1998, the allowance represents 119% of non-accrual loans 
and 46.2% of non-performing and restructured loans combined.  As of December 
31, 1997, the allowance represented 171% of non-accrual loans and 50.9% of 
non-performing and restructured loans combined.

      Management believes that the allowance for credit losses is adequate to 
cover known and inherent losses related to loans and leases outstanding as of 
March 31, 1998.

Securities
------------

      The Company classifies its securities as held to maturity or available 
for sale.  Securities classified as held to maturity are those that the 
Company has the positive intent and ability to hold until maturity.  These 
securities are carried at amortized cost.

     Securities that could be sold in response to changes in interest rates, 
increased loan demand, liquidity needs, capital requirements or other similar 
factors, are classified as securities available for sale.  These securities are 
carried at fair value, with unrealized gains or losses reflected net of tax in 
stockholders' equity.

      As of March 31, 1998, the Company recorded net unrealized gains of 
$2,919,000 on its available for sale portfolio.  Stockholders' equity includes 
$1,692,000, representing the net unrealized gains, net of tax.

      The amortized cost, gross unrealized gains, gross unrealized losses and 
fair value of securities at March 31, 1998 and December 31, 1997 were as 
follows:


<TABLE>
                                                   Gross             Gross    
(In Thousands)                  Amortized        Unrealized        Unrealized        Fair
March 31, 1998                    Cost             Gains             Losses         Value
--------------------------------------------------------------------------------------------       
Securities Held to Maturity
----------------------------
<S>                           <C>             <C>     <C>        <C>    <S>     <C>
 U.S. Government Agencies        $ 94,306        $       48         $      -       $ 94,354
 Collateralized Mortgage               
   Obligations                         36                 -                -             36
                              ------------       -----------        ---------    -----------
Total Securities Held to 
  Maturity                       $ 94,342        $       48         $      -       $ 94,390
                              ============       ===========        =========    ===========

Securities Available for Sale
------------------------------
  U.S. Treasuries                 $ 6,882        $        4         $      -        $ 6,886
  U.S. Government Agencies        169,504               183                -        169,687
  Mortgage Backed Securities       53,956               399                -         54,355
  Corporate Notes                   9,004               115                -          9,119
  Collateralized Mortgage            
    Obligations                   178,681               471                -        179,152   
  Asset Backed Securities         186,568             1,747                -        188,315
  Auction Preferred Stock           5,999                 -                -          5,999
  Other Securities                  5,749                 -                -          5,749
                              ------------       -----------        ---------    -----------
Total Securities Available 
  for Sale                      $ 616,343           $ 2,919         $      -      $ 619,262
                              ============       ===========        =========    ===========
                                              
                                              
                                              
                                                   Gross             Gross    
(In Thousands)                  Amortized        Unrealized        Unrealized        Fair
December 31, 1997                 Cost             Gains             Losses         Value
--------------------------------------------------------------------------------------------       
Securities Held to Maturity
----------------------------
 U.S. Government Agencies        $ 58,003        $      124         $      -       $ 58,127
 Collateralized Mortgage               
   Obligations                         42                 -                -             42
                              ------------       -----------        ---------    -----------
Total Securities Held to 
  Maturity                       $ 58,045        $      124         $      -       $ 58,169
                              ============       ===========        =========    ===========

Securities Available for Sale
------------------------------
  U.S. Treasuries                 $ 6,889        $       11         $      -        $ 6,900
  U.S. Government Agencies        220,205               187                -        220,392
  Mortgage Backed Securities       57,167               326                -         57,493
  Corporate Notes                   9,006               175                -          9,181
  Collateralized Mortgage            
    Obligations                   188,092               460                -        188,552   
  Asset Backed Securities         135,263             1,710                -        136,973
  Auction Preferred Stock          18,500                 -                -         18,500
  Other Securities                  5,669                 -                -          5,699
                              ------------       -----------        ---------    -----------
Total Securities Available 
  for Sale                      $ 640,791           $ 2,869         $      -      $ 643,660
                              ============       ===========        =========    ===========
</TABLE>
                                              


     There were no sales of securities available for sale or securities held to 
maturity during the quarters ended March 31, 1998 and 1997.


Deposits
----------

      The Company's deposits totaled $1,352 million as of March 31, 1998, an 
increase of $60.3 million from $1,292 million as of December 31, 1997.  The 
largest growth was in the category of other time deposits which increased $31.5
million, or 13.6%, from year-end 1997.  Interest-bearing demand also increased  
$21.4 million, or 9.8%.  Time certificates of deposit of $100,000 or more 
increased $12.0 million, or 2.0%.  Included in this deposit category is $15 
million growth of deposits from the State of California.  These deposits, which 
totaled $93 million as of March 31, 1998, are collateralized at 110%, as is 
required for all public time deposits.  The collateral provided is U.S. 
government agency issues.

     There were no brokered deposits outstanding as of March 31, 1998 and 
December 31, 1997.  The Company believes that the majority of its deposit 
customers have strong ties to the Bank.  Although the Company has a significant 
amount of time certificates of deposit of $100,000 or more having maturities of 
one year or less, the depositors have generally renewed their deposits in the 
past at their maturity.  The State of California deposit is not considered to 
constitute a relationship and is invested in securities.  Accordingly, the 
Company believes its deposit source to be stable.

      The maturity schedule of time certificates of deposit of $100,000 or 
more as of March 31, 1998 is as follows:

(IN THOUSANDS)                             
------------------------------------------------------
3 Months or Less                            $ 290,763
Over 3 Months Through One Year                313,806
Over One Year through 5 Years                   2,499
                                           -----------
Total                                       $ 607,068
                                           ===========    


Other Borrowings
------------------

       In 1990, the Company issued $15.0 million of subordinated debentures 
with a contractual annual interest rate of 10.52% and a stated maturity of 
September 1, 2000.  On September 2, 1997 the Company prepaid the $15 million of 
10.52% subordinated debentures.

      On July 30, 1997, the Company issued, through a public offering, $40 
million of 8.375% subordinated notes due August 1, 2007.  Proceeds of $38.7 
million, net of underwriting discount of $1.3 million, were received by the 
Company.  The discount is amortized as a yield adjustment over the 10 year life 
of the subordinated notes.  The notes are not redeemable prior to August 1, 
2002.  Thereafter, the notes are redeemable, in whole or in part, at the option 
of the Company at decreasing redemption prices plus accrued interest to the 
date of redemption.  The notes have no sinking fund.  The indenture (the 
"Indenture") under which the notes are issued does not limit the ability of the 
Company or its subsidiaries to incur additional indebtedness.  The Indenture 
provides that the Company cannot pay cash dividends or make any other 
distribution on, or purchase, redeem or acquire its capital stock, except that 
the Company may (1) declare and pay a dividend in capital stock of the Company 
and (2) declare and pay dividends, purchase, redeem or otherwise acquire for 
value its capital stock or make other distributions in cash or property other 
than capital stock of the Company if the amount of such dividend, purchase or 
distribution, together with the amount of all previous such dividends, 
purchases, redemptions and distributions of capital stock after December 31, 
1996, would not exceed in the aggregate the sum of (a) $38 million, plus (b) 
100% of the Company's consolidated net income (or minus 100% of the Company's 
consolidated net loss, as the case may be), based upon audited consolidated 
financial statements, plus (c) 100% of the net proceeds received by the Company 
on account of any capital stock issued by the Company (other than to a 
subsidiary of the Company) after December 31, 1996.  The subordinated notes are 
included as part of the Company's total risk-based capital and further 
contribute to the capital strength of the Company.

Regulatory Matters
---------------------

     During the first quarter of 1998, the annual safety and soundness 
examination was conducted jointly by the Federal Deposit Insurance Corporation 
("FDIC") and the California Department of Financial Institutions.  Although the 
report has not been received, no material adverse findings are expected.


Capital Resources
-------------------

     Stockholders' equity totaled $154.4 million as of March 31, 1998, an 
increase of $8.1 million, or 5.5% from $146.3 million as of December 31, 1997.  
The increase from year-end 1997 was primarily due to net income of $6.6 
million, less cash dividends declared to shareholders of $1.1 million plus the 
exercise of stock options and related tax benefit totaling approximately $2.5 
million.

     Capital ratios for the Company and for the Bank were as follows as of the 
dates indicated:

                                    
                          Well- Capitalized        March 31,      December 31,
                             Requirements            1998             1997
                        -------------------------------------------------------
GBC Bancorp                                           
------------
Tier 1 Leverage Ratio             5%                 9.94%            9.58%
Tier 1 Risk-Based          
  Capital Ratio                   6%                12.92%           13.57%
Total Risk-Based                
  Capital Ratio                  10%                17.47%           18.47%

General Bank                                               
-------------
Tier 1 Leverage Ratio             5%                 9.01%            8.78%
Tier 1 Risk-Based           
  Capital Ratio                   6%                11.70%           12.45%
Total Risk-Based         
  Capital Ratio                  10%                12.96%           13.71%


      For the quarter ended March 31, 1998, the ratio of the Company's average 
stockholders' equity to average assets was 9.83%.  For the year ended December 
31, 1997, this ratio was 9.11%.  The increase of the ratio is due to capital
increasing more rapidly than the growth of average assets.

Liquidity
------------

      Liquidity measures the ability of the Company to meet fluctuations in 
deposit levels, to fund its operations and to provide for customers' credit 
needs.  Liquidity is monitored by management on an on-going basis.  Asset 
liquidity is provided by cash and short-term financial instruments which 
include federal funds sold and securities purchased under agreements to resell, 
unpledged securities held to maturity maturing within one year and unpledged 
securities available for sale.  These sources of liquidity amounted to $664.6 
million, or 42.3% of total assets, as of March 31, 1998, compared to $696.3 
million, or 46.1% of total assets, as of December 31, 1997.

      To further supplement its liquidity, the Company has established federal 
funds lines with correspondent banks and three master repurchase agreements 
with major brokerage companies.  In August, 1992 the Federal Home Loan Bank of
San Francisco ("FHLB") granted the Bank a line of credit equal to 25 percent of 
assets with terms up to 360 months.  Management believes its liquidity sources 
to be stable and adequate.

       As of March 31, 1998, total loans and leases represented 49.8% of total 
deposits.  This compares to 49.5% as of December 31, 1997.

       The liquidity of the parent company, GBC Bancorp, is primarily dependent 
on the payment of cash dividends by its subsidiary, General Bank, subject to 
the limitations imposed by the Financial Code of the State of California.  For 
the three months ending March 31, 1998, General Bank declared cash dividends of 
$1.1 million to GBC Bancorp.

Derivatives
-------------

      As of March 31, 1998 and December 31, 1997, there were no derivative 
financial instruments.  As of March 31, 1997, the amount of derivative 
financial instruments outstanding was immaterial.

"GAP" measurement
-------------------

      While no single measure can completely identify the impact of changes in 
interest rates on net interest income, one gauge of interest rate sensitivity 
is to measure, over a variety of time periods, contractual differences in the
amounts of the Company's rate sensitive assets and rate sensitive liabilities.  
These differences, or "gaps", provide an indication of the extent that net 
interest income may be affected by future changes in interest rates.  However,
these contractual "gaps" do not take into account timing differences between 
the repricing of assets and the repricing of liabilities.

      A positive gap exists when rate sensitive assets exceed rate sensitive 
liabilities and indicates that a greater volume of assets than liabilities will 
reprice during a given period.  This mismatch may enhance earnings in a rising
rate environment and may inhibit earnings when rates decline.  Conversely, when 
rate sensitive liabilities exceed rate sensitive assets, referred to as a 
negative gap, it indicates that a greater volume of liabilities than assets 
will reprice during the period.  In this case, a rising interest rate 
environment may inhibit earnings and declining rates may enhance earnings.

      "Gap" reports are utilized as a means to provide management with a tool 
to monitor repricing differences, or "gaps", between assets and liabilities 
repricing in a specified period, based upon their underlying contractual 
rights.  The use of "gap" reports is thus limited to a quantification of the 
"mismatch" between assets and liabilities repricing within a unique specified 
timeframe.  Contractual "gap" reports cannot be used to quantify exposure to 
interest rate changes because they do not take into account timing differences 
between repricing assets and liabilities, and changes in the amount of 
prepayments.

      As of March 31, 1998 there is a cumulative one year negative "gap" of 
$494.0 million, up from $462.7 million of December 31, 1997.  The negative gaps 
would appear to be predictive of an increase in the net interest margin had the 
average prime rate of interest declined.  However, there was no change in the 
prime rate of interest between the fourth quarter of 1997 and the first quarter 
of 1998.

      The following table indicates the Company's interest rate sensitivity 
position as of March 31, 1998, and is based on contractual maturities.  It may 
not be reflective of positions in subsequent periods.

<TABLE>
                                                                                          
                                                           MARCH 31, 1998
                                                     INTEREST SENSIVITY PERIOD
                           ---------------------------------------------------------------------------------------- 
                                             91 to         Over 1                      Non-Interest              
                              0 to 90         365          Year to        Over 5         Earning/
(In Thousands)                  Days          Days         5 Years         Years         Bearing           Total
-------------------------------------------------------------------------------------------------------------------       
<S>                        <C>           <C>            <C>           <C>                <C>           <C>              
Earning Assets:                                                                          
Securities Available for    
  Sale                        $ 31,902      $ 64,143       $ 118,914     $ 404,303          $ -           $ 619,262
Securities Held to 
  Maturity                         -             -            73,372        20,970            -              94,342
Federal Funds Sold & 
  Securities Purchased Under                                                                         
  Agreement to Resell          127,500           -               -             -              -             127,500
Loans and Leases (1)(2)        463,670        19,219          83,340        93,546            -             659,775
Non-Earning Assets (2)             -             -               -             -           70,658            70,658
                             ----------    ----------      ----------    ----------     ----------      ------------  
Total Assets                 $ 623,072      $ 83,362       $ 275,626     $ 518,819       $ 70,658       $ 1,571,537
                             ==========    ==========      ==========    ==========     ==========      ============                

Source of Funds for Assets:
                                                                                         
Deposits:                                                                                
  Demand-non-interest bearing    $ -           $ -             $ -           $ -        $ 147,422         $ 147,422
  Interest Bearing Demand      240,159           -               -             -              -             240,159
  Savings                       93,957           -               -             -              -              93,957
  TCD'S Under $100,000         108,655       153,048           1,863           -              -             263,566
  TCD'S $100,000 and Over      290,763       313,806           2,499           -              -             607,068
                             ----------    ----------      ----------    ----------     ----------      ------------
Total Deposits               $ 733,534     $ 466,854         $ 4,362         $ -        $ 147,422       $ 1,352,172
                             ----------    ----------      ----------    ----------     ----------      ------------        

Subordinated Debt                $ -           $ -             $ -        $ 38,777          $ -            $ 38,777
Other Liabilities                  -             -               -             -           26,233            26,233
Stockholders' Equity               -             -               -             -          154,355           154,355
                             ----------    ----------      ----------    ----------     ----------      ------------                
Total Liabilities and
  Stockholders' Equity       $ 733,534     $ 466,854         $ 4,362      $ 38,777      $ 328,010       $ 1,571,537
                             ==========    ==========      ==========    ==========     ==========      ============     

Interest Sensitivity Gap     $ (110,462)   $ (383,492)     $ 271,264     $ 480,042      $ (257,352)
                                                                                         
Cumulative Interest
  Sensitivity Gap            $ (110,462)   $ (493,954)     $ (222,690)   $ 257,352             -
                                                                                         
Gap Ratio (% of                       
  Total Assets)                    -7.0%        -24.4%           17.3%        30.5%          -16.4% 
                                                                                         
Cumulative Gap Ratio               -7.0%        -31.4%          -14.2%        16.4%            0.0%            
</TABLE>
                                                                  

(1) Loans and leases are before unamortized deferred loan fees and allowance 
    for credit losses.
(2) Nonaccrual loans are included in non-earning assets.
                                                                  


        Effective asset/liability management includes maintaining adequate 
liquidity and minimizing the impact of future interest rate changes on net 
interest income.  The Company attempts to manage its interest rate sensitivity  
on an on-going basis through the analysis of the repricing characteristics of 
its loans, securities, and deposits, and managing the estimated net interest 
income volatility by adjusting the terms of its interest-earning assets and 
liabilities, and through the use of derivatives as needed.

Market risk
-------------

      Market risk is the risk of financial loss arising from adverse changes in 
market prices and interest rates.  The Company's market risk is inherent in its 
lending and deposit taking activities to the extent of differences in the 
amounts maturing or degree of repricing sensitivity.  Adverse changes in market 
prices and interest rates may therefore result in diminished earnings and 
ultimately an erosion of capital.

      Since the Company's profitability is affected by changes in interest 
rates, management actively monitors how changes in interest rates may affect 
earnings and ultimately the underlying market value of equity.  Management 
monitors interest rate exposure through the use of three basic measurement 
tools in conjunction with established risk limits.  These tools are the 
expected maturity gap report, net interest income volatility and market value 
of equity volatility reports.  The gap report details the expected maturity 
mismatch or gap between interest earning assets and interest bearing 
liabilities over a specified timeframe.  The expected gap differs from the 
contractual gap report shown earlier in this section by adjusting contractual 
maturities for expected prepayments of principal on loans and amortizing 
securities as well as the projected timing of repricing non-maturity deposits.  
The following table shows the Company's financial instruments that are 
sensitive to changes in interest rates categorized by their expected maturity, 
as of March 31, 1998:

<TABLE>
                                            Expected Maturity Date March 31, 1997
                                                    (Dollars in Thousands)
                               -----------------------------------------------------------------
                                              91 to       Over 1                       
                                 0 to 90       365        Year to         Over
(In Thousands)                     Days        Days       5 Years       5 Years         Total      
------------------------------------------------------------------------------------------------              
<S>                         <C>         <C>          <C>            <C>           <C>
                                                                                     
Interest-sensitive Assets:
Securities Available for             
  Sale                          $ 73,132    $ 175,428    $ 348,140      $ 22,562      $ 619,262
Securities Held to                                                                
  Maturity                        12,760       32,510       49,072           -           94,342
Federal Funds Sold & 
  Securities Purchased Under 
  Agreement to Resell            127,500          -            -             -          127,500
Loans and Leases (1)             463,670       19,219       83,340        93,546        659,775
                              -----------   ----------   ----------    ----------   ------------
Total Interest-earning             
  Assets                       $ 677,062    $ 227,157    $ 480,552     $ 116,108    $ 1,500,879
                              ===========   ==========   ==========    ==========   ============           
                                                                                     
Interest-sensitive Liabilities:
                                                                                  
Deposits:                                                                         
  Interest Bearing              $ 12,577     $ 37,731    $ 189,851         $ -        $ 240,159
  Savings                          4,698       14,094       75,165           -           93,957
  Time Deposit of 
    Certificates                 396,870      469,339        4,425           -          870,634
                              -----------   ----------   ----------    ----------   ------------       
Total Deposits                 $ 414,145    $ 521,164    $ 269,441         $ -      $ 1,204,750
                              -----------   ----------   ----------    ----------   ------------
                                                                                     
Subordinated Debt                  $ -          $ -          $ -        $ 38,777       $ 38,777
                              -----------   ----------   ----------    ----------   ------------       
Total Interest-sensitive          
  Liabilities                  $ 414,145    $ 521,164    $ 269,441      $ 38,777    $ 1,243,527
                              ===========   ==========   ==========    ==========   ============           
</TABLE>                                                              
(1) Loans and leases are net of non-accrual loans and before unamortized 
    deferred loan fees and allowance for credit losses.


       Expected maturities of assets are contractual maturities adjusted for 
projected payment based on contractual amortization and unscheduled prepayments 
of principal as well as repricing frequency.  Expected maturities for deposits 
are based on contractual maturities adjusted for projected rollover rates and 
changes in pricing for non-maturity deposits.  The Company utilizes assumptions
supported by documented analysis for the expected maturities of its loans and 
repricing of its deposits and relies on third party data providers for 
prepayment projections for amortizing securities.  The actual maturities of 
these instruments could vary significantly if future prepayments and repricing 
differ from the Company's expectations based on historical experience.

      The Company uses a computer simulation analysis to attempt to predict 
changes in the yields earned on assets and the rates paid on liabilities in 
relation to changes in market interest rates.  The net interest income 
volatility and market value of equity volatility reports measure the exposure 
of earnings and capital respectively, to immediate incremental changes in 
market interest rates as represented by the prime rate change of 100 to 200 
basis points.  Market value of equity is defined as the present value of assets 
minus the present value of liabilities and off balance sheet contracts.  The 
table below shows the estimated impact of changes in interest rates on net 
interest income and market value of equity as of March 31, 1998:

                                NET INTEREST              MARKET VALUE OF     
   CHANGE IN INTEREST        INCOME VOLATILITY           EQUITY VOLATILITY    
  RATES (BASIS POINTS)       MARCH 31, 1998 (1)          MARCH 31, 1998 (2)     
----------------------------------------------------------------------------
         +200                       2.0%                       -12.6%         
         +100                       1.2%                        -6.4%         
         -100                      -5.9%                         2.4%        
         -200                     -11.4%                         5.0%         
                                                            
(1)  The percentage change in this column represents net interest income for 
     12 months in a stable interest rate environment versus the net interest 
     income in the various rate scenarios.
     
(2)  The percentage change in this column represents net portfolio value of the 
     Bank in a stable interest rate environment versus the net portfolio value
     in the various rate scenarios.
                                                            

      The Company's primary objective in managing interest rate risk is to 
minimize the adverse effects of changes in interest rates on earnings and 
capital.  In this regard the Company has established internal risk limits for 
net interest income volatility given a 100 and 200 basis point decline in rates 
of 10% and 15% respectively, over a twelve month horizon.  Similarly, risk 
limits have been established for market value of equity volatility in response 
to a 100 and 200 basis point increase in rates of 10% and 15%, respectively.

Recent Developments
---------------------

       During the first quarter of 1998, significant disruptions to certain 
financial markets in Asia have continued.  Although the Company engages in 
significant international trade financing, the majority of the business 
involves imports and is U.S. dollar denominated.  The Company has no 
outstanding foreign loans in its loan portfolio as of March 31, 1998.  The 
primary source of repayment for substantially all of the Company's loans is 
from the cash flow generated from the borrowers' operations, which are located 
within the United States.  At this time, management believes that negative 
impacts, if any, could be outweighed by increased business for the Company's 
customers.

Year 2000
-----------

      The Company's main software systems have been licensed from large vendors 
who have already provided certifications of year 2000 compliance.  The Company 
intends to complete testing to confirm such compliance in the current year.  
Certain ancillary systems that operate on personal computers are also licensed 
and the vendors have informed the Company that releases conforming to year 2000 
requirements will be received this year.  Management formed a task force in 
1997 to oversee year 2000 compliance and does not expect that there will be 
significant impact nor expense for its systems.  The Company is in the process 
of assessing the impact of Year 2000 on its major loan customers.

Forward-Looking Statements
----------------------------

     Certain statements contained herein, including, without limitation, 
statements containing the words  "believes," "intends," "expects" and words of 
similar import, constitute "forward-looking statements" within the meaning of 
the Private Securities Litigation Reform Act of 1995.  Such forward-looking 
statements involve known and unknown risks, uncertainties and other factors 
that may cause the actual results, performance or achievements of the Company 
to be materially different from any future results, performance or achievements 
expressed or implied by such forward-looking statements.  Such factors include, 
among others, the following:  general economics and business conditions in 
those areas in which the Company operates; demographic changes; competition; 
fluctuations in interest rates; changes in business strategy or development 
plans; changes in governmental regulation; credit quality; and other factors 
referenced  herein, including, without limitation, under the captions Provision 
for Credit Losses, Non-Performing Assets, Allowance for Credit Losses, Market 
Risk and Liquidity and Interest Rate Sensitivity.  Given these uncertainties, 
the reader is cautioned not to place undue reliance on such foward-looking 
statements.  The Company disclaims any obligation to update any such factors or 
to publicly announce the results of any revisions to any of the forward-looking 
statements contained herein to reflect future events or developments.

Recent Accounting Developments
--------------------------------

Disclosure about Segments of an Enterprise and Related Information
--------------------------------------------------------------------

     In June 1997, the FASB issued Statement of Financial Accounting Standards
No. 131 "Disclosures about Segments of an Enterprise and Related Information".
This statement establishes standards for the way public business enterprises
are to report information about operating segments in annual financial
statements and requires those enterprises to report selected information about
operating segments in interim financial reports issued to shareholdrers.  It
also establishes standards for related disclosures about products and 
services, geographic areas, and major customers.  SFAS 131 supersedes SFAS 14,
"Financial Reporting for Segments of a Business Enterprise", but retains the
requirement to report information about major customers.  SFAS 131 is effective
for financial statements for periods beginning after December 15, 1997.
Implementation of SFAS 131 will not have a material adverse effect on the
Company's financial condition or results of operations.






SIGNATURES


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



                                    GBC Bancorp
                                    (Registrant)


Dated:     05-15-1998               s/       Peter Wu
      --------------------            ------------------------
                                    Peter Wu, President and 
                                    Chief Operating Officer



Dated:     05-15-1998               s/       Peter Lowe
      --------------------            ------------------------
                                    Peter Lowe, Executive
                                    Vice President and
                                    Chief Financial Officer