<PAGE>
               SECURITIES AND EXCHANGE COMMISSION
                      WASHINGTON, DC 20549


                            FORM 10-Q
            Quarterly Report under Section 13 or 15(d)
              of The Securities Exchange Act of 1934


For the Quarter Ended March 31, 1999 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. Employer 
 incorporation or organization)                  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, 13,327,998 shares  issued  and
outstanding as of  March 31, 1999.







<PAGE>

                        TABLE OF CONTENTS



PART I  -  FINANCIAL INFORMATION .............................       
       
                                                          
  Item 1.  Financial Statements ..............................       
        
                                                          
  Item 2.  Management's Discussion and Analysis of Financial   
           Condition and Results of Operations ...............       
        
         
                                                          
                                                          
                                                          
PART II -  OTHER INFORMATION .................................      
      
                                                          
  Item 1.  Legal Proceedings .................................      
        
                                                                 
  Item 2.  Changes In Securities .............................      
       
        
  Item 3.  Default Upon Senior Securities ....................      
               
                                                          
  Item 4.  Submission Of Matters To A Vote Of Securities  
           Holders ...........................................      
                                                          
  Item 5.  Other Information .................................      
             
                                                          
  Item 6.  Exhibits And Reports On Form 8-K ..................      
        
        
                                                          
                                                          
                                                          
PART III-  SIGNATURES ........................................      

<PAGE>       

                     PART I - FINANCIAL INFORMATION

<PAGE>



                     GBC BANCORP AND SUBSIDIARIES                          
                     CONSOLIDATED BALANCE SHEETS                          
<TABLE>
<CAPTION>
                                                             
                                              March 31,   December 31,
(Dollars In Thousands)                           1999          1998
----------------------------------------------------------------------
<S>                                       <C>          <C> 
ASSETS
                                                                
Cash and Due From Banks                     $    31,149    $    27,514
Federal Funds Sold and Securities                               
  Purchased Under Agreements to Resell           40,000        101,000
Securities Available for Sale at Fair                           
  Value (Amortized Cost of $745,406
  and $721,000 at March 31, 1999 and                            
  December 31, 1998, Respectively)              747,551        724,172
Securities Held to Maturity (Fair Value                         
  of $6,033 and $24,677 at March 31, 1999
  and December 31, 1998, Respectively)            6,014         24,616
Loans and Leases                                824,450        788,945
Less: Allowance for Credit Losses               (20,492)       (19,381)         
      Deferred Loan Fees                         (5,553)        (5,914)                                   
                                            -----------    ----------- 
Loans and Leases, Net                           798,405        763,650                                                    
Bank Premises and Equipment, Net                  5,474          5,656                                                  
Other Real Estate Owned, Net                      5,570          6,885                                                          
Due From Customers on Acceptances                 7,684          7,249                                                         
Real Estate Held for Investment                   6,702          7,034                                                          
Accrued Interest Receivable and Other                    
  Assets                                         11,755         13,048
                                            -----------    -----------
Total Assets                                $ 1,660,304    $ 1,680,824         
                                            ===========    ===========

                                                                                                                           
LIABILITIES AND STOCKHOLDERS' EQUITY                            
                                                                
Deposits:                                                       
 Demand                                     $   153,001    $   149,397                                                          
 Interest Bearing Demand                        266,233        280,294                                                          
 Savings                                         84,595         81,051                                                           
 Time Certificates of Deposit of $100,000                       
   or More                                      624,144        599,669
 Other Time Deposits                            246,251        270,492         
                                            -----------    -----------                                                        
Total Deposits                                1,374,224      1,380,903             
                                                                      
Federal Funds Purchased and Securities                          
  Sold Under Repurchase Agreements                6,000          -    
Borrowings from the Federal Home Loan                           
  Bank                                           50,000         35,000
Subordinated Debt                                38,908         38,876                                                          
Acceptances Outstanding                           7,684          7,249                                                          
Accrued Expenses and Other Liabilities           24,004         55,766       
                                            -----------    -----------
Total Liabilities                             1,500,820      1,517,794
                                         
Stockholders' Equity:                                           
 Common Stock, No Par or Stated Value;                          
   40,000,000 Shares Authorized ;                               
   13,327,998 and 13,711,998 shares
   Outstanding at March 31, 1999 and                         
   December 31,1998, Respectively           $    56,875    $    56,303
 Accumulated Other Comprehensive Income           1,234          1,829                                                 
 Retained Earnings                              101,375        104,898         
                                            -----------    -----------
Total Stockholders' Equity                      159,484        163,030
                                            -----------    -----------                                                        
Total Liabilities and Stockholders'          
  Equity                                    $ 1,660,304    $ 1,680,824
                                            ===========    ===========               
See Accompanying Notes to Consolidated Financial Statements
</TABLE>

<PAGE>

                        GBC Bancorp & Subsidiaries
                     Consolidated Statements of Income               
<TABLE>
<CAPTION>
                                                              
                                            For The Three Months Ended
                                                     March 31,
(In Thousands, Except Per Share Data)            1999            1998
----------------------------------------------------------------------
<S>                                      <C>             <C>
                                 
INTEREST INCOME
 Loans and Leases, Including Fees             $ 18,826        $ 16,570
 Securities Available for Sale                  10,890           9,888                                    
 Securities Held to Maturity                       305           1,237
 Federal Funds Sold and Securities                       
   Purchased under Agreements to Resell          1,132           1,985       
 Other                                               1               6
                                              --------        --------
Total Interest Income                           31,154          29,686
                                                
INTEREST EXPENSE                                
 Interest Bearing Demand                         1,635           1,373
 Savings                                           418             648
 Time Certificates of Deposits of                         
 $100,000 or More                                7,100           7,763
 Other Time Deposits                             2,883           3,059
 Federal Funds Purchased and Securities                      
   Sold under Repurchase Agreements                 17               4
 Borrowings from the Federal Home Loan                          
   Bank                                            504              -
 Subordinated Debt                                 870             870
                                              --------        --------
Total Interest Expense                          13,427          13,717
                                                
 Net Interest Income                            17,727          15,969
 Provision for Credit Losses                     1,500              -
                                              --------        --------
 Net Interest Income after Provision                      
   for Credit Losses                            16,227          15,969
                                                
NON-INTEREST INCOME                             
 Service Charges and Commissions                 1,640           1,437
 Gain on Sale of Loans, Net                         99              19
 Other                                             113             317
                                              --------        --------
Total Non-Interest Income                        1,852           1,773
                                                
NON-INTEREST EXPENSE                            
 Salaries and Employee Benefits                  4,472           4,295
 Occupancy Expense                                 763             728
 Furniture and Equipment Expense                   610             485
 Net Other Real Estate Owned Expense                46             312
 Other                                           1,704           1,484
                                              --------        --------
Total Non-Interest Expense                       7,595           7,304
                                                
Income before Income Taxes                      10,484          10,438
Provision for Income Taxes                       3,919           3,807
                                              --------        --------
Net Income                                    $  6,565        $  6,631
                                              ========        ========

Earnings Per Share:
 Basic                                        $   0.48        $   0.47
 Diluted                                          0.47            0.46
                                              ========        ========
                          
</TABLE>
See Accompanying Notes to Consolidated Financial Statements


<PAGE>

                      GBC BANCORP & SUBSIDIARIES
      CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

<TABLE>
<CAPTION>                                                                                              
(In Thousands, Except per Share Amounts)

                                                                     Accumulated
                                                                       Other                                Total
                                      Common Stock     Retained     Comprehensive     Comprehensive      Stockholders'
                                     Shares  Amount    Earnings        Income            Income             Equity
                                    -----------------------------------------------------------------------------------
<S>                                 <C>    <C>       <C>            <C>               <C>              <C>             
Balance at December 31,1997          13,990 $53,314   $  91,355        $1,654                              $146,323
---------------------------                         
                                     
Comprehensive Income                                            
  Net Income for the year               -      -         28,142            -             $28,142             28,142
 Other Comprehensive Income,                                                           ---------
   Net of Tax                                    
   Net Changes in Securities                                                        
   Valuation Allowance                  -      -            -             175                175                175
 Foreign Currency Translation                                               
   Adjustment                                                              -                                     -
                                                                                       ----------
Comprehensive Income                                                                     $28,317
                                                                                         =======
Stock Options Exercised                 187   1,375         -              -                                  1,375
Tax Benefit-Stock                                               
  Options Exercised                     -     1,614         -              -                                  1,614
Stock Repurchase                       (465)            (10,386)                                            (10,386)
Cash Dividend- $30 per Share            -      -         (4,213)           -                                 (4,213)
                                    -------------------------------------------                          -----------
Balance at December 31 ,1998        $13,712 $56,303    $104,898        $1,829                              $163,030
                                    ======= =======    ========        ======                              ========
                                                                  
Comprehensive Income                                            
  Net Income for the Quarter            -      -          6,565            -              $6,565              6,565
                                                                                       ----------
 Other Comprehensive Income,
   Net of Tax
   Net Changes in Securities 
   Valuation Allowance                  -      -            -            (595)              (595)              (595)
 Foreign Currency Translation                                           
   Adjustment                                                              -                  -                  -
                                                                                       ----------
Comprehensive Income                                                                      $5,970
                                                                                          ======
Stock Options Exercised                  39     376         -              -                                    376
Tax Benefit-Stock Options               -       196         -              -                                    196
Exercised Stock Repurchase             (423)             (9,088)                                             (9,088)
Cash Dividend-$.075 per Share           -       -        (1,000)           -                                 (1,000)
                                    -------------------------------------------                          -----------
Balance at March 31, 1999            13,328 $56,875    $101,375        $1,234                              $159,484
                                     ====== =======    ========        ======                              ========
</TABLE>

<TABLE>
<CAPTION>
Disclosure of Reclassification Amount:
                                                                                      For the Quarter       For the Year
                                                                                      Ended Mar.31,99      Ended Dec.31,98

<S>                                                                             <C>                     <C>            
Net Change of Unrealized Holding Gains (Losses) Arising During Period
Net of Tax Expense(Benefit) of $(433,000) and $172,000 in 1999 and
  1998, Respectively                                                                          $ (596)               $ 237
Less: Reclassification Adjustment for Gains Included in Net Income Net
  of Tax Expense of $0 and $45,000 in 1999 and 1998, Respectively                                  -                  (62)
Net Change of Unrealized Gains on Securities Net of Tax Expense (Benefit)                 -----------         ------------
  of $(433,000) and $127,000 in 1999 and 1998, Respectively.                                  $ (596)               $ 175
                                                                                          ===========         ============
                                                                                       

</TABLE>

See Accompanying Notes to Consolidated Financial Statements


<PAGE>

                                  GBC BANCORP AND SUBSIDIARIES
                              CONSOLIDATED STATEMENTS OF CASH FLOWS   
                                                        
<TABLE>
<CAPTION>

                                                          For the Three Months Ended March 31,
-----------------------------------------------------------------------------------------------
(In Thousands)                                                   1999               1998
-----------------------------------------------------------------------------------------------                      
OPERATING ACTIVITIES:                                    
<S>                                                      <C>             <C>                   
Net Income                                                  $   6,565          $   6,631
Adjustments to Reconcile Net Income to                   
  Net Cash Provided by Operating Activities:
Depreciation                                                      360                313
Net Amortization/(Accretion) of                          
  Premiums/Discounts on Securities                                159                (83)
Accretion of Discount on Subordinated Notes                        32                 32
Writedown on Real Estate Held for Investment                      332                331
Write-off of Goodwill                                             256                  -
Provision for Credit Losses                                     1,500                  -
Amortization of Deferred Loan Fees                             (1,130)              (710)
Gain on Sale of Loans                                             (99)               (19)
Gain on Sale of Other Real Estate Owned                          (151)               (14)
Proceeds from Sales of Loans Originated for Sale                    -                 19
Net Increase in Accrued Interest                         
  Receivable and Other Assets                                   1,293              1,744
Net Decrease in Accrued Expenses and Other Liabilities        (31,231)            (2,937)
Other, Net                                                          -                  1
                                                            ----------        -----------
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES            $ (22,114)         $   5,308
                                                            ----------        -----------
                                             
INVESTING ACTIVITIES:                                    
Purchases of Securities Available for Sale                   (155,697)           (70,947)
Proceeds from Maturities of Securities                   
  Available for Sale                                          131,087             95,339
Purchases of Securities Held to Maturity                            -            (50,090)
Proceeds from Maturities of Securities                   
  Held to Maturity                                             18,648             13,933
Net Increase in Loans and Leases                              (35,189)           (34,077)
Proceeds from Sales of Other Real Estate Owned                  1,812                832
Capitalized Costs of Other Real Estate Owned                     (283)                 -
Purchases of Premises and Equipment                              (211)              (257)
                                                            ----------        -----------
NET CASH USED BY INVESTING ACTIVITIES                       $ (39,833)         $ (45,267)
                                                            ----------        -----------                        

FINANCING ACTIVITIES:
Net Increase/(Decrease) in Demand, Interest                       
  Bearing Demand and Savings Deposits                         (6,913)             16,853
Net Increase in Time Certificates of Deposits                    234              43,487
Net Increase in Federal Funds Purchased                  
  and Securities Sold Under Agreements
  to Repurchase                                                6,000                   -
Borrowings from the Federal Home Loan Bank                    15,000                   -
Stock Repurchase Program                                      (9,087)                  -
Cash Dividends Paid                                           (1,028)               (839)
Proceeds from Exercise of Stock Options                          376               1,076
                                                            ---------         ----------
NET CASH PROVIDED BY FINANCING ACTIVITIES                   $  4,582           $  60,577
                                                            ---------         ----------

NET CHANGE IN CASH AND CASH EQUIVALENTS                      (57,365)             20,618
Cash and Cash Equivalents at Beginning of Period             128,514             140,519
                                                            --------             -------
Cash and Cash Equivalents at End of Period                  $ 71,149           $ 161,137
                                                            ========           =========

Supplemental Disclosures of Cash Flow Information:
 Cash Paid During This Period for:                      
 Interest                                                   $ 13,205           $  13,453
 Income Taxes                                                  1,155                 350
                                                            ========           =========
Noncash Investing Activities:
 Loans Transferred to Other Real                      
   Estate Owned at Fair Value                               $     64           $     151
                                                            ========           =========
</TABLE>
See Accompanying Notes to Consolidated Financial Statements


<PAGE>

                  GBC Bancorp and Subsidiaries

           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
           ------------------------------------------

      In  the  opinion of management, the unaudited  consolidated
financial  statements  of GBC Bancorp and its  subsidiaries  (the
"Company")  as of March 31, 1999 and December 31,  1998  and  the
quarter  ended  March 31, 1999 and 1998, reflect all  adjustments
(which  consist  only of normal recurring adjustments)  necessary
for  a fair presentation.  Operating results for the three months
ended  March  31,  1999, are not necessarily  indicative  of  the
results  that  may be expected for the full year ending  December
31,  1999.   In  the  opinion of management,  the  aforementioned
consolidated financial statements are in conformity with  general
accepted accounting principles.


Earnings Per Share
------------------

      Basic  earnings  per share is determined  by  dividing  net
income  by the weighted average number of shares of common  stock
outstanding,  while diluted earnings per share is  determined  by
dividing  net income by the weighted average number of shares  of
common  stock  outstanding adjusted for the  dilutive  effect  of
common  stock  equivalents.  Earnings per  share  for  the  three
months ended March 31, 1998 have been restated to reflect a 2 for
1  stock  split to shareholders of record on April 30,  1998  and
issued and distributed on May 15, 1998.


Consolidated Statements of Cash Flows
-------------------------------------

      Cash  and  cash equivalents consist of cash  and  due  from
banks,  and  federal  funds sold and securities  purchased  under
agreements to resell.


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

OVERVIEW
--------

      For  the  quarter ended March 31, 1999, net income  totaled
$6,565,000,  or  $0.47 diluted earnings per  share,  compared  to
$6,631,000,  or $0.46 diluted earnings per share  for  the  first
quarter of 1998.  The 1998 earnings per share reflect the 2 for 1
split  of  the stock to shareholders of record on April 30,  1998
and issued and distributed on May 15, 1998.

      During  the  first quarter, the Company  announced  that  a
borrower with an outstanding loan balance of $31 million informed
its subsidiary bank, General Bank (the "Bank"), that it has filed
a bankruptcy proceeding. Accordingly, the Bank placed the loan on
non-accrual. The loan was for the construction of a casino in Las
Vegas, Nevada, and is collateralized by a first trust deed on the
building.   In  addition,  the loan is collateralized  by  second
trust  deeds on an associated hotel and on an RV park  and  by  a
first  trust  deed  on undeveloped land, all of  which  are  also
located  in  Las  Vegas,  Nevada.   There  was  also  a  take-out
commitment from another financial institution to pay off the loan
at the end of construction.  A review of the collateral indicates
sufficient value to repay the loan's principal balance,  together
with interest and expenses.

      The  $66,000, or 1.0%, decrease in net income from the same
period of 1998 was primarily caused by a $1,500,000 provision for
credit losses recorded in 1999.  For the quarter ended March  31,
1998,  there  was  no  provision for credit losses  recorded.  At
quarter-end, an allocation of the allowance for credit losses for
the $31 million non-accrual loan was made.
     
       Substantially all of the remaining construction loans  are
for the construction of residential properties, and the loans are
disbursed in phases as the developers complete and sell  portions
of  the projects.  Excluding the casino loan, there are nine real
estate  lending commitments exceeding $10 million, of which  five
have  loans outstanding in excess of $10 million and the  largest
such  loan  is  $17  million.  There also is a $20  million  real
estate  term loan commitment.  In addition, there also are twelve
commercial  loan  lending commitments exceeding $10  million,  of
which  five have loans outstanding exceeding $10 million and  the
largest such loan is $21 million.  The risk potential of loans is
a  function  of  many factors, including the type and  amount  of
collateral associated with the loan, in addition to the amount of
the loan outstanding.

      The  annualized  return on average assets ("ROA")  for  the
Company was 1.59% and 1.75% for the quarter ended March 31,  1999
and   1998,  respectively.   The  annualized  return  on  average
stockholders' equity ("ROE") for the quarter ended March 31, 1999
and 1998 was 16.3% and 17.8%, respectively.


RESULTS OF OPERATIONS
---------------------

Net Interest Income
-------------------

      For the quarter ended March 31, 1999 and 1998, net interest
income before the provision for credit losses was $17,727,000 and
$15,969,000,   respectively,   representing   an   increase    of
$1,758,000,  or 11.0%.  The components explaining  this  increase
are discussed below.

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

      Total interest income for the quarter ended March 31,  1999
was  $31,154,000  compared to $29,686,000 for  the  corresponding
period  of a year ago.  The increase of $1,468,000, or 4.9%,  was
due  to  an increase of average earning assets.  For the  quarter
ended March 31, 1999 and 1998, average earning assets were $1,627
million  and  $1,476 million, respectively, representing  a  $151
million,  or 10.2%, growth.  The impact of the growth of  average
earning assets was partially offset by a decrease of the yield on
earning  assets from 8.16% to 7.77%, for the quarter ended  March
31, 1998 and 1999, respectively.

      The reduction of the yield is due to decreases of the yield
on all interest-earning categories, primary among which was an 88-
basis  decline  of  the yield on loans and leases.   The  average
prime  rate of interest during the quarter ended March  31,  1999
and  1998 was 7.75% and 8.50%, respectively.  The reduced  yields
on  all categories of earning assets was partially offset by  the
increase  of  average  loans  and leases,  the  highest  yielding
earning  assets,  as a percent of total average  earning  assets.
For  the quarter ended March 31, 1999 and 1998, average loans and
leases  represented  49.7%  and  44.1%,  respectively,  of  total
average earning assets.

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

      Total interest expense for the quarter ended March 31, 1999
was  $13,427,000  compared to $13,717,000 for  the  corresponding
period of a year ago.  The decrease of $290,000, or 2.1%, was due
to  the  decline of the cost of funds from 4.59% for the  quarter
ended  March  31, 1998 to 4.13% for the quarter ended  March  31,
1999.   The  rates  paid on all categories  of  deposit  products
decreased with the largest impact in time certificates of deposit
of  $100,000 or more which declined 61-basis points from 5.28% to
4.67%.  The result of the above was a 49-basis point decrease  in
the  rates  paid on interest-bearing deposits.  For  the  quarter
ended  as  indicated,  average balance and  rates  paid  for  the
deposit categories were as follows:

<TABLE>
<CAPTION>
                                For  the Quarter Ended  March 31,
(Dollars in Thousands)                        1999         1998
-----------------------------------------------------------------
<S>                                   <C>          <C>

Interest-bearing demand
  - Average balance                     $  281,950   $  232,803
Rate                                         2.35%        2.39%

Savings - Average  balance                  79,379       95,070
Rate                                         2.14%        2.76%

Time certificates of deposit
  of  $100,000 or more -
  Average balance                          616,412      595,894
Rate                                         4.67%        5.28%

Other time deposits -
  Average balance                          257,443      249,417
Rate                                         4.54%        4.97%

</TABLE>

      The impact on interest expense of the rate reduction of the
cost  of funds was partially offset by an increase of the average
interest-bearing liabilities.  For the quarter  ended  March  31,
1999  and 1998 average interest-bearing liabilities were $1,317.8
million and $1,212.3 million, respectively, an increase of $105.5
million, or 8.7%.  Included in this increase was $42.4 million of
advances with the Federal Home Loan Bank of San Francisco.

      The  net  interest spread, defined as the yield on  earning
assets  less  the  rates  paid  on interest-bearing  liabilities,
increased  to  3.64% for the quarter ended March  31,  1999  from
3.57%  for the corresponding period of a year ago.  The  increase
is primarily due to the reduced 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, increased to 4.42%  for  the
quarter  ended  March 31, 1999, from 4.39% for the  corresponding
period of a year ago.


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

      For  the  quarter ended March 31, 1999, the  provision  for
credit  losses was $1,500,000.  For the quarter ended  March  31,
1998, there was no provision for credit losses.

      At  quarter  end,  the Company made an  allocation  of  the
allowance for credit losses for the $31 million construction loan
placed  on non-accrual in the first quarter and discussed  above.
Although the Company anticipates the full recapture of principal,
interest  and estimated expenses, it cannot determine the  timing
of  the  liquidation of the assets nor the actual values at  that
time.

      For  the quarter ended March 31,1999 and 1998, net  charge-
offs were $389,000 and $928,000, respectively.

      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,  1999
totaled  $1,852,000 compared to $1,773,000 for  the  same  period
ended March 31, 1998.  The net increase of $79,000, or 4.5%,  was
primarily  attributable  to an increase in  service  charges  and
commissions  due  mainly  to increases  of  commissions  on  both
standby  and commercial letters of credit.  There was a reduction
in  other income in the current quarter, as compared to the first
quarter  of  1998,  due primarily to the closure  of  the  Bank's
escrow subsidiary.


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

      Non-interest expense for the quarter ended March 31,  1999,
totaled  $7,595,000,  a  $291,000, or  4.0%,  increase  over  the
$7,304,000 recorded in the same period of 1998. Included in other
expense, which  increased $220,000 for the first  quarter, was  a
$256,000  write-off  of the intangible asset associated  with the
Bank's escrow subsidiary.  The assets of this subsidiary were sold   
to a third party.

       For   the  quarter  ended  March  31,1999,  the  Company's
efficiency ratio, defined as non-interest expense divided by  the
sum of net interest income plus non-interest income, declined  to
38.8%,  comparing favorably to 41.2% for the corresponding period
of 1998.


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

      For  the  quarter ended March 31, 1999, the  provision  for
income  taxes  was  $3,919,000,  representing  37.4%  of  pre-tax
income.   The provision for the quarter ended March 31, 1998  was
$3,807,000,  representing 36.5% of pre-tax income.  The  increase
of  the  effective  tax rate was primarily  responsible  for  the
$112,000  increase  of the tax provision.  The  increase  of  the
effective  tax  rate was mainly the result of the  expiration  on
November  30,  1998  of  the  Los  Angeles  Revitalization   Zone
California tax incentive.


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

      Total  assets  as of March 31, 1999, were $1,660.3  million
representing a $20.5 million, or 1.2%, decrease from total assets
of  $1,680.8  million as of December 31, 1998.   The  decline  of
total  assets  from  December 31,  1998  to  March  31,  1999  is
primarily  due  to the settlement in January of  $30  million  of
securities  that  were  traded  in  December  and  the  continued
repurchase  of  Company stock pursuant to  the  stock  repurchase
program.  For the quarter ended March 31, 1998, $9.1 million  was
paid  for  423,100 shares.  In addition, deposits  declined  $6.7
million from December 31, 1998 to March 31, 1999 primarily due to
$14.1   million  decline  of  interest-bearing  demand  deposits.
Offsetting  the above was a $15.0 million increase in  borrowings
from the FHLB.


Loans
-----

      As  of  March 31, 1999, total loans and leases were  $824.5
million  compared  to  $788.9 million as of  December  31,  1998,
representing  a  $35.6  million, or  4.5%  increase.   All  major
categories  of loans experienced growth during the first  quarter
of  1999, led by increases of $17.9 million, or 6.8%, in the real
estate- conventional portfolio.  This increase was primarily  the
result  of five loans totaling $20 million.  Each loan is secured
by real property collateral with loan to value ratios from 50% to
75%.

     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>
<CAPTION>      
                            March 31, 1999             December 31, 1998
(In Thousands)                  Amount   Percentage         Amount  Percentage
------------------------------------------------------------------------------           
<S>                         <C>           <C>           <C>           <C>
Commercial                    $ 315,448     38.27%        $ 309,198     39.19%
Real Estate -Construction       188,742     22.89%          177,737     22.53%
Real Estate -Conventional       281,809     34.18%          263,869     33.45%
Installment                          29      0.00%               37      0.00%
Other Loans                      22,395      2.72%           22,302      2.83%
Leveraged Leases                 16,027      1.94%           15,802      2.00%
                              ------------------------------------------------
Total                         $ 824,450    100.00%        $ 788,945    100.00%
                              ================================================
</TABLE>


      Trade  financing  loans  which are included  in  commercial
loans,  declined $8.1 million from December 31, 1998,  to  $222.4
million as of March 31, 1999.  Trade financing loans are made  by
the  Bank's International Division which, in addition to granting
loans  to  finance  the import and export of  goods  between  the
United  Sates  and  countries in the Pacific Rim,  also  provides
letters of credit and other related services.  The Bank does  not
make  loans to foreign banks, foreign government or their central
banks,  or  commercial and industrial loans to entities domiciled
outside  of  the  United  States, except  for  the  extension  of
overdraft  privileges  to its foreign correspondent  banks  on  a
limited, case by case, basis.

       During   1998   and  continuing  into  1999,   significant
disruptions to certain financial markets in Asia have  continued.
Although  the  Company engages in international trade  financing,
the  majority  of the business involves imports and  all  of  the
Company's  loans  are denominated in U.S. dollars.   The  primary
source of payment 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.   There  could  be
adverse financial impacts on individual borrowers as they  adjust
their   businesses  to  the  changes  caused  by  the   financial
disruption,  but at this time, management believes that  negative
impacts, if any, should not be significant.




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

      A  certain  degree of risk is inherent in the extension  of
credit.  Management 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.  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  as
principal   reduction  or  reported  as  recoveries  on   amounts
previously charged-off, in accordance with management's  judgment
as to the collectability of principal.

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

<TABLE>
<CAPTION>
---------------------------------------------------------------
(IN THOUSANDS)               March 31, 1999   December 31, 1998
---------------------------------------------------------------                                         
<S>                          <C>             <C>

Loans 90 Days or More Past
  Due and Still Accruing       $     569         $     780
Non-accrual Loans                 50,623            20,790
Total Past Due Loans              51,192            21,570
Restructured Loans (on                                    
  Accrual Status)                 10,373            10,440
Total Non-performing and                                     
  Restructured Loans              61,565            32,010
Other Real Estate Owned, Net       5,570             6,885
                             -----------------------------
Total Non-performing Assets    $  67,135         $  38,895
                             ===========         =========
</TABLE>

      Total non-performing assets increased from $38.9 million to
$67.1   million  from  December  31,  1998  to  March  31,  1999,
respectively.  The $28.2 million or 72.6%, increase  was  due  to
the increase of non-accrual loans, discussed below.

Loans 90 Days or More Past Due
------------------------------

      One  credit comprises this category which is anticipated
to be current in the second quarter.

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

      The $29.8 million or 143.5%, increase of non-accrual loans,
is due to the inclusion of a $31 million construction loan for  a
casino in Las Vegas.  The loan is collateralized by a first trust
deed  on the building, second trust deeds on an associated  hotel
and  on a RV park, and by a first trust deed on undeveloped land.
There  also  was  a  take-out commitment from  another  financial
institution  to  pay off the loan at the end of  construction.  A
review of the collateral indicates sufficient value for the  full
recapture   of   principal,  interest  and  estimated   expenses.
However,  the  Company  cannot  determine  the  timing   of   the
liquidation of the assets nor the actual values at that time.

      The  following  table analyzes the increase in  non-accrual
loans during the three months ended March 31, 1999:
                                
<TABLE>
<CAPTION>

                Non-Accrual Loans (In Thousands)
        --------------------------------------------
        <S>                               <C>
        Balance, December 31, 1998          $20,790
        Add: Loans placed on non-accrual     33,474
        Less: Charge-offs                    (1,075)
              Returned to accrual status       (476)        
              Repayments                     (2,026)
              Transfer to OREO                  (64)
        Balance, March 31, 1999              50,623
        --------------------------------------------
</TABLE>

      The  following  table breaks out the Company's  non-accrual
loans by category as of March 31, 1999 and December 31, 1998:

<TABLE>
<CAPTION>
-------------------------------------------------------------
(IN THOUSANDS)             March 31, 1999   December 31, 1998
-------------------------------------------------------------                                        
<S>                          <C>                 <C>
Commercial                     $17,885             $19,202
Real Estate-Construction        31,102                 277
Real Estate-Conventional         1,635               1,309
Installment                          1                   2
                               ---------------------------
Total                          $50,623             $20,790
                               =======             =======

</TABLE>

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

      As of March 31, 1999, the balance of restructured loans was
$10.4 million, unchanged from the balance as of December 31, 1998.
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, 1999, there  were  three
loans  on non-accrual status totaling $667,000.  As of March  31,
1999,  restructured loans, excluding the three non-accrual loans,
consisted of eleven real estate credits, unchanged from  year-end
1998. The weighted average yield of the restructured loans as  of
March 31, 1999 was 9.95%.

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


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

      As of March 31, 1999, other real estate owned ("OREO"), net
of  valuation  allowance of $2.0 million, totaled  $5.6  million,
representing a decrease of $1.3 million, or 18.8%, from  the  net
balance  of  $6.9  million, net of valuation  allowance  of  $2.0
million,  as  of December 31, 1998.  As of March 31,  1999,  OREO
consisted  of  16  properties  of which  one  is  a  multi-family
condominium  project.  As of March 31, 1999, the  sales  of  this
project have resulted in the repayment of its carrying value.  As
of December 31, 1998, OREO consisted of 22 properties.

     The OREO properties are all physically located in the Bank's
market    area.    They   include   single   family   residences,
condominiums,  commercial buildings, and land.   Nine  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:

<TABLE>
<CAPTION>
                                  March 31,     December 31,
------------------------------------------------------------
(In Thousands)                         1999             1998
------------------------------------------------------------
Property Type

<S>                             <C>            <C> 
Single-Family Residential         $     550        $     752
Condominium                               -              485
Land                                  3,626            3,621
Retail Facilities                     3,394            4,027
Less : Valuation Allowance           (2,000)          (2,000)
                                  --------------------------
Total                             $   5,570        $   6,885
                                  =========        =========

</TABLE>

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.  The following table discloses
pertinent  information  as it relates to the  Company's  impaired
loans as of and for the dates indicated:

<TABLE>
<CAPTION>
----------------------------------------------------------------------
(IN THOUSANDS)                                  March 31,     Dec. 31,
                                                     1999         1998
----------------------------------------------------------------------

<S>                                            <C>          <C>
Recorded Investment with Related Allowance        $53,009      $20,746
Recorded Investment with no Related Allowance       1,517        1,519
Total Recorded Investment                          54,526       22,265
Specific Allowance on Impaired Loans                6,816        3,250
----------------------------------------------------------------------


</TABLE>

     The increase of the recorded investment of impaired loans is
due to the $31 million casino construction loan discussed above.

     The average balance of total recorded investment in impaired
loans was $38.4 million for the three months ended March 31, 1999
and $13.5 million for the twelve months ended December 31, 1998.

      For  the  quarter ended March 31, 1999 and  1998,  interest
income  recognized on impaired loans was $180,000  and  $355,000,
respectively.  Of the amount of interest income recognized during
the  quarters  ended  March 31, 1999 and 1998,  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, 1999, the balance of the  allowance  for
credit   losses   was  $20.5  million,  representing   2.49%   of
outstanding loans and leases.  This compares to an allowance  for
credit  losses  of  $19.4  million  as  of  December  31,   1998,
representing 2.46% of outstanding loans and leases.   At  quarter
end, an allocation of the allowance for credit losses for the $31
million  non-accrual loan as discussed above was made.   Although
the Company anticipates the full recapture of principal, interest
and  estimated  expenses, it cannot determine the timing  of  the
liquidation of the assets nor the actual values at that time.

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

<TABLE>
<CAPTION>
---------------------------------------------------------------
(IN THOUSANDS)                  March 31, 1999   March 31, 1998
---------------------------------------------------------------

<S>                             <C>              <C>
Balance,Beginning of Period            $19,381          $16,776
Provision for Credit Losses              1,500                -
Charge-offs                             (1,056)          (1,099)
Recoveries                                 667              171
Net Charge-offs                           (389)            (928)
Balance,End of Period                  $20,492          $15,848
---------------------------------------------------------------
</TABLE>

     As of March 31, 1999, the allowance represents 40.5% of non-
accrual loans and 33.3% of non-performing and restructured  loans
combined.   As  of  December 31, 1998, the allowance  represented
93.2%  of  non-accrual  loans  and 60.6%  of  non-performing  and
restructured loans combined.  The decline of these ratios is  due
to  the  increase of non-accrual loans as discussed  above.   The
amount  of  the provision for credit losses is that  required  to
maintain an allowance for credit losses that is adequate to cover
probable  credit losses related to specifically identified  loans
as  well  as probable credit losses inherent in the remainder  of
the  loan  and  lease portfolio.  Management evaluates  the  loan
portfolio,  the  economic  environment,  historical   loan   loss
experience,  collateral  values  and  assessments  of  borrowers'
ability to repay in determining the amount of the allowance   for
credit losses.

      The allowance is based on ongoing, quarterly assessments of
the  probable  estimated losses inherent in the  loan  and  lease
portfolio, and to a lesser extent, unused commitments to  provide
financing.    The   Company's  methodology  for   assessing   the
appropriateness  of  the  allowance  consists  primarily  of  the
use of a formula allowance.

    This formula allowance is calculated by applying loss factors
to  outstanding loans and leases and certain unused  commitments,
in  each  case based on the internal risk rating of  such  loans,
pools of loans, leases or commitments.  Changes in risk rating of
both performing and nonperforming loans affect the amount of  the
formula  allowance.   Loss factors are  based  on  the  Company's
historical  loss  experience and may be adjusted for  significant
factors    that,   in   management's   judgement,   affect    the
collectibility of the portfolio as of the evaluation date.   Loss
factors are described as follows:

     -    Problem graded loan loss factors represent percentages which
       have proven accurate over time.  Such factors are checked against
       and supported by migration analysis which tracks loss experience
       over a five-year period.
     
     -    Pass graded loan loss factors are based on the approximate
       average annual net charge-off rate over an eight-year period.

     -    Pooled loan loss factors (not individually graded loans) are
       based on probable net charge-offs.  Pooled loans are loans and
       leases that are homogeneous in nature, such as residential
       mortgage loans and small business loans.

      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, 1999.


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 accumulated other comprehensive income.

      As  of  March 31, 1999, the Company recorded net unrealized
gains  of $2,145,000 on its available for sale portfolio.   Other
comprehensive  income includes $1,243,000, 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,  1999  and
December 31, 1998 were as follows:

<TABLE>
<CAPTION>

                                               
(In Thousands)                                      Gross         Gross        
March 31, 1999                       Amortized    Unrealized    Unrealized      Fair
                                       Cost         Gains         Losses        Value         
--------------------------------------------------------------------------------------                                  
<S>                                <C>            <C>         <C>          <C>                  <S>  <C> <C>
                                            
Securities Held to Maturity
 U.S.Government Agencies             $   5,996       $    19       $    -    $   6,015
 Collateralized Mortgage
   Obligations                              18             -            -           18
                                     -------------------------------------------------
Total Securities Held to Maturity    $   6,014       $    19       $    -    $   6,033
                                     =================================================     

Securities Available for Sale
 U.S.Treasuries                          1,851             1            -        1,852
 U.S.Government Agencies                19,388            99            -       19,487
 Mortgage Backed Securities            127,560             -         (211)     127,349
 Corporate Notes                        50,054             -          (75)      49,979
 Collateralized Mortgage Obligations   258,305           460            -      258,765
 Asset Backed Securities               279,858         1,871            -      281,729
 Other Securities                        8,390             -            -        8,390
                                     -------------------------------------------------
Total Securities Available for Sale  $ 745,406       $ 2,431       $ (286)   $ 747,551
                                     =================================================                                
                                              
</TABLE>
                                              
<TABLE>
<CAPTION>
               
(In Thousands)                                      Gross         Gross        
December 31, 1998                    Amortized    Unrealized    Unrealized      Fair
                                       Cost         Gains         Losses        Value         
--------------------------------------------------------------------------------------                                  
<S>                                <C>            <C>          <C>         <C>           
                                              
Securities Held to Maturity
 U.S. Government Aencies             $  24,594      $     61       $   -     $  24,655
 Collateralized Mortgage Obligation         22             -           -            22
                                     -------------------------------------------------
Total Securities Held to Maturity    $  24,616      $     61       $   -     $  24,677
                                     =================================================     
Securities Available for Sale
 U. S. Treasuries                    $   1,859      $      3       $   -     $   1,862
 U.S. Government Agencies               59,604           171           -        59,775
 Mortgage Backed Securities             72,799           408           -        73,207
 Corporate Notes                        34,925             -          (1)       34,924
 Collateralized Mortgage Obligations   246,026           621           -       246,647
 Asset Backed Securities               257,638         1,970           -       259,608
 Commercial Papaer                      39,860             -           -        39,860
 Other Securities                        8,289             -           -         8,289
                                     -------------------------------------------------
Total Securities Available for Sale  $ 721,000      $  3,173       $  (1)    $ 724,172
                                     =================================================        
                                              
</TABLE>

      There  were  no sales of securities available for  sale  or
securities  held to maturity during the quarter ended  March  31,
1999 and 1998.


Deposits

      The Company's deposits totaled $1,374.2 million as of March
31, 1999, a decrease of $6.7 million from $1,380.9 million as  of
December  31,  1998.   Other time deposits  and  interest-bearing
demand  deposits  declined  $24.2  million  and  $14.1  million,
respectively.  This  decrease  was  partially  offset  by a $24.5
million increase of time certificates of deposit  of  $100,000 or
more.

      There were no brokered deposits outstanding as of March 31,
1999  and  December  31,  1998.  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, and has experienced growth in this area,  the
depositors have generally renewed their deposits in the  past  at
their maturity.

      The  maturity schedule of time certificates of  deposit  of
$100,000 or more as of March 31, 1999 is as follows:

<TABLE>
<CAPTION>

(IN THOUSANDS)
----------------------------------------------------
<S>                                    <C>
3 Months or Less                            $359,182
Over 3 Months Through 6 Months               137,548
Over 6 Months through 12 Months              127,129
Over 12 Months                                   285
                                            --------    
Total                                       $624,144
                                            ========

</TABLE>

Other Borrowings

     As of March 31, 1999, the Company has three sources of other
borrowings.

      Subordinated  debt  is comprised of a  $40  million  public
offering  issuance  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
notes.

      The  Bank has obtained advances from the Federal Home  Loan
Bank  of San Francisco (the "FHLB") totaling $50.0 million.   The
advances  are under an existing line of credit whereby  the  FHLB
has  granted the Bank a line of credit equal to 25 percent of its
assets.   The following relates to the four outstanding  advances
as of March 31, 1999:

<TABLE>
<CAPTION>

          Maturity             Amount         Fixed Rate of Interest
         ----------         ------------      ------------------------
         <S>            <C>                  <C>
         Nov.  1, 2000        $25,000,000               4.53%
         Jan. 31, 2001         10,000,000               5.19%
         Apr. 30, 2001         10,000,000               4.92%
         July 15, 2002          5,000,000               5.61%
</TABLE>

The total outstanding of $50 million of advances as of March 31,
1999 has a composite fixed rate of interest of 4.85%.

     As of March 31, 1999, the Bank had $6 million outstanding of
federal funds purchased, an overnight borrowing from one of its
major correspondents.  The rate of interest paid on the federal
funds purchased was 5.50%. (Reference also discussion of
liquidity following.)


Regulatory Matters

      During  the  first quarter of 1999, the annual  safety  and
soundness  examination was conducted concurrently by the  Federal
Deposit   Insurance  Corporation  ("FDIC")  and  the   California
Department of Financial Institutions.  No reports have  yet  been
issued, but no significant findings are anticipated.


Capital Resources

      Stockholders' equity totaled $159.5 million as of March 31,
1999, a decrease of $3.5 million, or 2.2%, from $163.0 million as
of  December 31, 1998.  The net decrease from year-end  1998  was
primarily  due to the repurchase of $9.1 million of the Company's
stock,  which was partially offset by net income of $6.6 million,
less cash dividends declared to shareholders of $1.0 million less
the net change in securities' valuation of $0.6 million, plus the
exercise  of  stock  options and related  tax  benefits  of  $0.6
million.

      On September 17, 1998, the Board of Directors authorized  a
stock  repurchase  program of up to 1.4  million  shares  of  the
Company's stock.  As of March 31, 1999, 888,400 shares  had  been
repurchased at an average cost of $21.92 per share.  As of  April
30,  1999,  1,302,000  shares  had  been  repurchased  for  $25.9
million, for an average cost of $19.85 per share.

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

<TABLE>
<CAPTION>
                                 Well-Capitalized       March 31,   December 31,
                                   Requirements           1999         1998
                                 ----------------      ----------- --------------
GBC Bancorp
<S>                             <C>                   <C>           <C>
Tier 1 Leverage Ratio                      5%              9.48%         9.75%
Tier 1 Risk-Based Capital Ratio            6%             11.11%        11.06%
Total Risk-Based Capital Ratio            10%             15.09%        14.98%

General Bank                                               
Tier 1 Leverage Ratio                      5%              9.75%         9.49%
Tier 1 Risk-Based Capital Ratio            6%             11.43%        10.77%
Total Risk-Based Capital Ratio            10%             12.68%        12.02%

</TABLE>

      For  the  quarter ended March 31, 1999, the  ratio  of  the
Company's  average  stockholders' equity to  average  assets  was
9.77%.   For  the  year ended December 31, 1998, this  ratio  was
10.01%.   The decrease of the ratio is mainly the result  of  the
stock repurchase program.


Liquidity and Market Risk

      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  $643.6 million, or 38.8%, of total assets,
as  of  March 31, 1999, compared to $666.7 million, or 39.7%,  of
total assets, as of  December 31, 1998.

      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. As of  March  31,
1999,  there  were four draws under this financing facility  with
the  FHLB  for a total $50 million, and a blended fixed  rate  of
interest of 4.85%.  Management believes its liquidity sources  to
be stable and adequate.

      As  of  March 31, 1999, total loans and leases  represented
60.0%  of total deposits.  This compares to 57.1% as of  December
31, 1998.

      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,  1999,  General  Bank  declared   cash
dividends of $1.0 million to GBC Bancorp.


 "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, 1999 there is a cumulative one year negative
"gap"  of $594.0 million, up from $448.2 million of December  31,
1998.

      The  following table indicates the Company's interest  rate
sensitivity  position  as of March 31,  1999,  and  is  based  on
contractual maturities.  It may not be reflective of positions in
subsequent periods.
                                                                      
<TABLE>
<CAPTION>
                                                                      
                                                                         
                                0 to 90    91 to 365   Over 1 Year   Over       Non-Interest           
(In Thousands)                    Days        Days      to 5 Years   5 Years    Earning/Bearing      Total
                                --------   ----------  -----------   ---------  -----------      -----------
<S>                            <C>       <C>         <C>           <C>         <C>            <C>            
Earning Assets:                                                          
Securities Available for Sale   $ 19,331    $    678     $ 71,760    $ 655,782   $      -          $  747,551
Securities Held to Maturity            -           -            -        6,014          -               6,014
Federal Funds Sold &                                                     
 Securities Purchased Under                                                         
 Agreement to Resell              40,000           -            -            -          -              40,000
Loans and Leases (1)(2)          548,706      23,511       92,304      109,306          -             773,827
Non-Earning Assets (2)                 -           -            -            -     92,912              92,912
                                --------   ----------  -----------   ---------  -----------      -----------                     
Total Assets                    $608,037    $ 24,189     $164,064    $ 771,102     92,912          $1,660,304
                                ========   ==========  ===========   =========  ===========      ===========
                                                                      
Source of Funds for Assets:
                                                                    
Deposits:                                                                
 Demand - N/B                  $       -    $      -     $      -    $       -   $ 153,001         $  153,001
 Interest Bearing Demand         266,233           -            -            -           -            266,233
 Savings                          84,595           -            -            -           -             84,595
 TCD'S Under $100,000            125,877     119,661          713            -           -            246,251
 TCD'S $100,000 and Over         360,228     263,631          285            -           -            624,144
                               ---------   ----------  -----------   ---------  -----------      ------------
Total Deposits                 $ 836,933    $383,292     $    998     $      -   $ 153,001         $1,374,224
                               =========    ========     ========     ========   =========         ==========

Federal Funds Purchased &
  Securities Sold Under                                             
  Agreement to Resell          $   6,000   $       -     $      -     $      -   $       -         $    6,000    
Borrowings from the                                                      
  Federal Home Loan Bank               -           -       50,000            -           -             50,000
Subordinated Debt                      -           -            -       38,908           -             38,908
Other Liabilities                      -           -            -            -      31,688             31,688
Stockholders' Equity                   -           -            -            -     159,484            159,484
                               ---------   ---------     --------     --------   ---------          ---------              
Total Liabilities and                                                    
  Stockholders'Equity          $ 842,933   $ 383,292     $ 50,998     $ 38,908   $ 344,173         $1,660,304
                               =========   =========     ========     ========   =========         ==========           
                                                                      
Interest Sensitivity Gap       $(234,896)  $(359,103)    $113,066     $732,194   $(251,261)
                                                                 
Cumulative Interest                                                      
  Sensitivity Gap              $(234,896)  $(593,999)    $(480,933)   $251,261           -         
                                          
Gap Ratio (% of Total
Assets)                           -14.1%      -21.6%          6.8%       44.1%      -15.1%

Cumulative Gap Ratio              -14.1%      -35.8%        -29.0%       15.1%        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 indicates
the Company's financial instruments that are sensitive to changes
in interest rates categorized by their expected maturity, as of
March 31, 1999:
                                                                         
<TABLE>
<CAPTION>
                                     -----------------------------------------------------------
                                     0 to 90       91-365     Over 1 Year    Over
(In Thousands)                         Days         Days       to 5 Years   5 Years      Total
------------------------------------------------------------------------------------------------
<S>                               <C>           <C>         <C>          <C>         <C>         
Interest-sensitive Assets:
Securities Available for Sale       $   42,833   $  106,549  $  515,241   $  82,928   $  747,551
Securities Held to Maturity              6,014            -           -           -        6,014
Federal Funds Sold & Securities
  Purchased Under Agreement
  to Resell                             40,000            -           -           -       40,000
Loans and Leases (1)                   548,706       23,511      92,304     109,306      773,827
                                    ----------   ----------   ---------   ---------   ----------
Total Interest-earning Assets       $  637,553   $  130,060  $  607,545   $ 192,234   $1,567,392
                                    ==========   ==========  ==========   =========   ==========                            
                                                                       
Interest-sensitive Liabilities:

Deposits:
 Interest Bearing Demand            $    9,573   $   28,721  $  175,891   $  52,048   $  266,233
 Savings                                 2,820        8,459      56,397      16,919       84,595
 Time Deposit of Certificates          484,565      384,832         998           -      870,395
                                    ----------   ----------  ----------   ---------   ----------                        
Total Deposits                      $  496,958   $  422,012  $  233,286   $  68,967   $1,221,223
                                    ----------   ----------  ----------   ---------   ----------                            
                                                                            
Federal Funds Purchased                                                     
  & Securities Sold Under                                        
  Repurchased Agreements            $    6,000   $        -  $        -   $       -   $    6,000
Borrowing from FHLB                          -            -      50,000           -       50,000
Subordinated Debt                            -            -           -      38,908       38,908
                                    ----------   ----------  ----------   ---------   ----------                        
Total Interest-sensitive          
Liabilities                         $  496,958   $  422,012  $  233,286   $ 107,875   $1,316,131
                                    ==========   ==========  ==========   =========   ==========                            
</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, 1999:

<TABLE>
<CAPTION>
                                                          
                   NET INTEREST            
   CHANGE IN          INCOME       MARKET VALUE OF      
    INTEREST        VOLATILITY    EQUITY VOLATILITY
  RATES (BASIS    MARCH 31, 1999   MARCH 31, 1999         
    POINTS)            (1)               (2)
----------------------------------------------------                                                          
 <C>           <C>               <C>
      +200            -3.60%           -12.30%            
      +100            -1.80%           -6.10%             
      -100            -1.90%            3.40%             
      -200            -5.90%            4.30%             

</TABLE>
                                                          

(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.


Year 2000
---------

      The Company's main software systems have been licensed from
large  vendors  who  have provided certifications  of  year  2000
compliance.  Tests have confirmed such compliance for these  main
software  systems.   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 in 1999.  The Bank  has  budgeted
$100,000  of expenses related to Year 2000 compliance.   Expenses
to  date  have  been  approximately $35,000.  Personal  computers
including  hardware and software that are not in compliance  will
be  replaced  or  modified  by June, 1999.   Total  expenses  are
expected  to  be under the budgeted amount.  Management  believes
that there are no material risks to the Company from its computer
systems related to the Year 2000.

      Certain  operations, such as payroll and the administration
of   the   Company's  401(k)  plan,  are  outsourced  to  outside
companies.  The Company has obtained certification of their  Year
2000  compliance.  Management believes that there are no material
risks  to  the Company from its outsourced operations related  to
the Year 2000.

      Non-information technology systems are expected to function
well  in year 2000 and beyond.  The Company has requested written
certification  for  Year  2000  compliance  from  the   utilities
companies  and the telecommunications companies and has  received
acknowledgement from each company that they are  on  target  with
Year 2000 compliance.

      A  Business  Resumption  Plan  (the  "Plan")  is  in  place
including  a  back-up site for data processing in  the  event  of
failure of the Bank's mainframe computer.  In the unlikely  event
that  the  testing  and  certification  procedures  of  the  Bank
utilized  software did not discover a problem, the  Bank  has  in
place  manual processing procedures which would be followed until
correction of the software problem by the Bank's vendors.

      The  Company has sent questionnaires to selected  borrowers
representing more than 70% of the outstanding credit  commitments
by  dollar  volume at the time of the mailing.  As of  March  31,
1999,  98% of the questionnaires have been received and reviewed.
The review process identified two credits with commitments of  $6
million  that continue to represent potential adverse  impact  on
credit  quality  if Year 2000 issues are not addressed.   Ongoing
oversight  has  identified an additional six  credits  where  Y2K
issues  are  not  resolved, bringing the total to  $30.5  million
represented  by  eight  credits, as of  April  30,  1999.   These
credits  have  been  placed on the "Watch" list  to  ensure  high
visibility  and  ongoing  monitoring.  Any  borrowers  unable  to
confirm Year 2000 compliance in a timely manner will be evaluated
to  ensure  an adequate specific allocation to the allowance  for
credit  losses.   Year 2000 compliance will be a  factor  in  all
credit  decisions and  in the specific allocations of a  required
allowance  for credit losses.  Management believes the Year  2000
does  represent an area of potential risk for credit losses,  but
also  believes  the risk is manageable.  However,  credit  losses
could  be  realized  by  the Company due to  Year  2000  problems
affecting the businesses of borrowers.  The amount of such losses
would  be  a  function of the value of the collateral  associated
with the individual credits.  Whether such potential losses would
require  an  additional  provision for  credit  losses  would  be
determined  in conjunction with the normal quarterly analysis  of
the adequacy of the allowance for credit losses.


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

      Certain  statements  contained herein,  including,  without
limitation,   statements   containing  the   words   "indicates,"
"anticipates,"  "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,
Market  Risk, Liquidity and Interest Rate Sensitivity,  and  Year
2000.  Given these uncertainties, the reader is cautioned not  to
place  undue  reliance on such forward-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  shareholders.   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.  Management  and  the
Board  of  Directors  do not utilize profit center  reporting  to
manage  the organization.  Therefore, segment reporting will  not
be disclosed.

Accounting for Derivative Instruments and Hedging Activities

       Statement  of  Financial  Accounting  Standards  No.   133
"Accounting  for Derivative Instruments and Hedging  Activities,"
("SFAS  No. 133"), establishes accounting and reporting standards
for   derivative   instruments,  including   certain   derivative
instruments  embedded in other contracts, (collectively  referred
to  as derivatives) and for hedging activities.  It requires that
an   entity  recognize  all  derivatives  as  either  assets   or
liabilities in the balance sheet and measure those instruments at
fair  value.  If certain conditions are met, a derivative may  be
specifically designated as (a) a hedge of the exposure to changes
in  the  fair  value  of a recognized asset or  liability  or  an
unrecognized  firm  commitment, (b) a hedge of  the  exposure  to
variable cash flows of a forecasted transaction, or (c)  a  hedge
of the foreign currency exposure of a net investment in a foreign
operation, an unrecognized firm commitment, an available-for-sale
security,   or   a   foreign   currency  denominated   forecasted
transaction.   The  accounting for changes in  fair  value  of  a
derivative  (that is, gains and losses) depends on  the  intended
use of the derivative and the resulting designation.

      SFAS  133  is effective for all fiscal quarters  of  fiscal
years beginning after June 15, 1999.  Initial application of SFAS
133 must be as of the beginning of an entity's fiscal quarter; on
that  date,  hedging  relationships must be designated  anew  and
documented pursuant to the provisions of SFAS 133.  SFAS  133  is
not  to be applied retroactively to financial statements of prior
periods.   Management  does not believe  that  there  will  be  a
material  adverse impact on the financial position or results  of
operations of the Company upon adoption of SFAS 133.


                                                                
                                
                   PART II - OTHER INFORMATION





Item 1. LEGAL PROCEEDINGS
-------------------------

      In the normal course of business, the Company is subject to
pending  and threatened legal actions.  Management believes  that
the  outcome  of  such actions will not have a  material  adverse
effect  on  the  Company's  financial  condition  or  results  of
operations.


Item 2.  CHANGES IN SECURITIES
------------------------------

      There  have  been  no  changes in  the  securities  of  the
Registrant during the quarter ended March 31, 1999.


Item 3.  DEFAULT UPON SENIOR SECURITIES
---------------------------------------

     This item is not applicable.


Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
------------------------------------------------------------

      No matters were submitted to a vote of the Company security
holders during the quarter ended March 31, 1999.


Item 5.  OTHER INFORMATION
--------------------------

     There are no events to be reported under this item.


Item 6.  EXHIBITS AND REPORTS ON FORM 8-K
-----------------------------------------

     a)  Exhibits: None.
     b)   Reports on Form 8-K:  None





                                
                                
                                PART III - SIGNATURES






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:      May 13, 1999     s/ Li-Pei Wu
       ------------------       ------------------------
                                Li-Pei Wu, Chairman and
                                Chief Executive Officer



Dated:      May 13, 1999     s/ Peter Lowe
       ------------------       ------------------------
                                Peter Lowe, Executive
                                Vice President and
                                Chief Financial Officer