SECURITIES AND EXCHANGE COMMISSION
                    WASHINGTON, DC 20549



          Quarterly Report Under Section 13 or 15(d)
            of The Securities Exchange Act of 1934


For  Quarter Ended September 30, 1997 Commission file number 0-16213
                   ------------------                        -------
                        GBC BANCORP                         
---------------------------------------------------------------------------   
(Exact name of registrant as specified in its charter)

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

    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
                                                     ------------
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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, 6,984,369 shares issued and
outstanding as of  September 30, 1997.








                      TABLE OF CONTENTS
                      -----------------


PART I -  FINANCIAL INFORMATION.........................................   3
        
 Item 1.  Financial Statements..........................................   4
     
 Item 2. Management's Discussion and Analysis of Financial  Condition and 
         Results of  Operations.........................................   7
        
                                                          
                                                          
PART II -  OTHER INFORMATION............................................  28 
                                                          
 Item 1. Legal Proceedings..............................................  29
                                                          
 Item 2. Changes In Securities..........................................  29
                                                          
 Item 3. Default Upon Senior Securities.................................  29
                                                          
 Item 4. Submission Of Matters To A Vote Of  Securities Holders ........  29
                                                          
 Item 5. Other Information.............................................   29
                                                          
 Item 6. Exhibits And Reports On Form 8-K..............................   29
        
                                                          
                                                          
PART III - SIGNATURES.................................................    30















                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
               PART I - FINANCIAL INFORMATION
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                                        GBC Bancorp and Subsidiaries
                                         Consolidated Balance Sheets

<TABLE>
<CAPTION>
                                                         
                                                                           September30,         December 31,
(Dollars In Thousands)                                                         1997                1996
--------------------------------------------------------------------------------------------------------------                   
<S>                                                                       <C>             <C>         

ASSETS                                                       
                                                             
Cash and Due From Banks                                                   $       39,778       $      46,809
Federal Funds Sold and Securities                                                 
 Purchased Under Agreements to Resell                                            122,200             140,200
Securities Available for Sale at Fair Value (Amortized Cost of $623,262
 and $518,701 at September 30, 1997 and December 31, 1996, Respectively)         626,065             519,821
Securities Held to Maturity (Fair Value of $50,146 and $12,463 at
 September 30,1997 and December 31, 1996, Respectively)                           50,005              12,274
Loans and Leases                                                                 611,578             602,354
Less:  Allowance for Credit Losses                                               (14,962)            (16,209)
       Deferred Loan Fees                                                         (3,834)             (3,638)
                                                                         ----------------    -----------------
Loans and Leases, Net                                                            592,782             582,507
Bank Premises and Equipment, Net                                                   5,650               5,806
Other Real Estate Owned, Net                                                      14,891              12,988
Due From Customers on Acceptances                                                  9,815               6,535
Real Estate Held for Investment                                                    8,692               9,686
Accrued Interest Receivable and Other Assets                                      17,473              15,489
                                                                         ---------------     -----------------
 Total Assets                                                             $    1,487,351      $    1,352,115
                                                                         ===============     =================
                                                             
LIABILITIES AND STOCKHOLDERS' EQUITY                         
                                                             
Deposits:                                                    
 Demand                                                                   $      171,024      $      158,728
 Interest Bearing Demand                                                         232,923             213,697
 Savings                                                                         108,348             119,315
 Time Certificates of Deposit of $100,000 or More                                562,030             545,578
 Other Time Deposits                                                             208,961             164,195
                                                                         ---------------     -----------------
Total Deposits                                                                 1,283,286           1,201,513
                                           
Subordinated Debt                                                                 38,712              15,000
Acceptances Outstanding                                                            9,815               6,535
Accrued Expenses and Other Liabilities                                            16,645              12,431
                                                                         ---------------     -----------------
 Total Liabilities                                                             1,348,458           1,235,479
                                            
                                                             
Stockholders' Equity:                                        
 Common Stock, No Par or Stated Value;                       
  20,000,000 Shares Authorized; 6,984,369 and
  6,766,469 Shares Outstanding at September 30,
  1997 and December 31, 1996, Respectively                                $       52,967      $       47,281
 Securities Valuation Allowance, Net of Tax                                        1,624                 646
 Retained Earnings                                                                84,310              68,716
 Foreign Currency Translation Adjustments                                             (8)                 (7)
                                                                         ----------------    ----------------
  Total Stockholders' Equity                                                     138,893             116,636
                                                                         ----------------    ----------------
  Total Liabilities and Stockholders' Equity                              $    1,487,351      $    1,352,115
                                                                         ================    ================
</TABLE>
                                                             
See Accompanying Notes to Consolidated Financial Statements
            
<TABLE>
<CAPTION>
                                               GBC Bancorp and Subsidiaries
                                              Consolidated Statements of Income
                                                           
                                                   
                                                              Three Months Ended                Nine Months Ended
                                                               September 30,                     September 30,             
(In Thousands, Except Per Share Data)                       1997            1996              1997            1996
-----------------------------------------------------------------------------------------------------------------------
<S>                                                    <C>              <C>               <C>             <C>           

INTEREST INCOME                                             
 Loans and Leases, Including Fees                        $    15,951      $   13,245       $    46,921     $    38,513
 Securities Available for Sale                                 9,505           8,834            26,594          26,159
 Securities Held to Maturity                                     917             354             1,681           1,579
 Federal Funds Sold and Securities
  Purchased under Agreements to Resell                         1,812           1,756             5,882           5,717
 Other                                                             4               -                 4               -
                                                         ------------     -----------      ------------    ------------
    Total Interest Income                                     28,189          24,189            81,082          71,968
                                                            
INTEREST EXPENSE                                            
 Interest Bearing Demand                                       1,379           1,094             3,856           3,349
 Savings                                                         747             882             2,310           2,763
 Time Deposits of $100,000 or More                             7,528           6,227            21,616          18,164
 Other Time Deposits                                           2,373           1,958             6,444           6,276
 Federal Funds Purchased and Securities
  Sold under Repurchase Agreements                                10             333                12           1,002
 Subordinated Debt                                               886             399             1,684           1,197
                                                         ------------     -----------      ------------    ------------
   Total Interest Expense                                     12,923          10,893            35,922          32,751
                                                            
   Net Interest Income                                        15,266          13,296            45,160          39,217
  Provision for Credit Losses                                      -           1,000             1,000           3,500
                                                         ------------     -----------      ------------    ------------
   Net Interest Income after Provision
   for Credit Losses                                          15,266          12,296            44,160          35,717
                                                            
NON-INTEREST INCOME                                         
 Service Charges and Commissions                               1,532           1,351             4,298           4,156
  Gain on Sale of Loans, Net                                      56              20               130             121
  Gain on Sale of Fixed Assets                                    21               5                21              13
  Gain on Sale of Real Estate Investment                           -               -                 -             101
  Other                                                          166             180               451             399
                                                          ------------     -----------      ------------    ------------
   Total Non-Interest Income                                    1,775          1,556             4,900           4,790
                                                            
NON-INTEREST EXPENSE                                        
  Salaries and Employee Benefits                                4,238          3,376            12,039          10,202
  Occupancy Expense                                               701            704             2,109           2,066
  Furniture and Equipment Expense                                 464            459             1,337           1,250
  Net Other Real Estate Owned Expense (Income)                    481           (310)              960             596
  Other                                                         1,409          2,059             4,460           5,505
                                                         -------------    -----------      ------------    ------------
   Total Non-Interest Expense                                   7,293          6,288            20,905          19,619
                                                            
Income before Income Taxes and Extraordinary Item               9,748          7,564            28,155          20,888
Provision for Income Taxes                                      3,402          2,584             9,605           6,937
                                                         -------------    -----------      ------------    ------------
Income before Extraordinary Item                                6,346          4,980            18,550          13,951
Extraordinary Item:                                         
 Early Extinguishment of Debt, Net of Taxes of $353,000          (488)             -              (488)              -
                                                         -------------    -----------      ------------    ------------
    Net Income                                           $      5,858     $    4,980       $    18,062     $    13,951
                                                         =============    ===========      ============    ============
Earnings Per Share:                                         
  Net Income before Extraordinary Item                   $       0.89     $     0.70       $      2.63     $      1.96
  Extraordinary Item                                            (0.07)             -             (0.07)              -
                                                         -------------    -----------      ------------    ------------
   Earnings Per Share                                    $       0.82     $     0.70       $      2.56     $      1.96
                                                         =============    ===========      ============    ============
</TABLE>
See Accompanying Notes to Consolidated Financial Statements
                                                            
                              
                                          GBC Bancorp and subsidiaries
                                      Consolidated Statements of Cash Flows
<TABLE>
<CAPTION>
 

                                                                                For the Nine Months Ended September 30
----------------------------------------------------------------------------------------------------------------------        
(In Thousands, Except Per Share Data)                                               1997                     1996
---------------------------------------------------------------------------------------------------------------------             
<S>                                                                             <C>                      <C>  

OPERATING ACTIVITIES:                                          
Net Income                                                                      $     18,062              $     13,951
Adjustments to Reconcile Net Income to Net Cash
Provided by Operating Activities:                              
Depreciation                                                                             890                       839
Net Accretion of Discounts on Securities                                                (196)                   (1,093)
Accretion of Discount on Subordinated Notes                                               22                         -
Writedown on Real Estate Held for Investment                                             994                     1,092
Provision for Credit Losses                                                            1,000                     3,500
Provision for Losses on Other Real Estate Owned                                          150                       554
Amortization of Deferred Loan Fees                                                    (1,676)                   (2,289)
Gain on Sale of Loans, Net                                                              (130)                     (121)
Gain on Sale of Real Estate Investment                                                     -                      (101)
Gain on Sale of Other Real Estate Owned                                                 (126)                     (491)
Gain on Sale of Fixed Assets                                                             (21)                      (13)
Loans Originated for Sale                                                            (30,479)                  (26,617)
Proceeds from Sales of Loans Originated for Sale                                      27,562                    26,718
Net Increase in Accrued Interest Receivable and Other Assets                             (18)                     (422)
Net Increase/ (Decrease) in Accrued Expenses and Other Liabilities                     4,053                    (1,951)
Other, Net                                                                                (2)                        -
                                                                                -------------             -------------
NET CASH PROVIDED BY OPERATING ACTIVITIES                                       $     20,085              $     13,556
                                                                                -------------             -------------
INVESTING ACTIVITIES:                                          
Purchases of Securities Available for Sale                                          (404,880)                 (585,635)
Proceeds from Maturities of Securities Available for Sale                            300,446                   527,475
Purchases of Securities Held to Maturity                                             (48,947)                        -
Proceeds from Maturities of Securities Held to Maturity                               11,285                    18,088
Net Increase in Loans and Leases                                                      (9,897)                 (104,301)
Proceeds from Sales of Other Real Estate Owned                                         1,786                     3,868
Capitalized Costs of Other Real Estate Owned                                            (368)                     (702)
Proceeds from Sales of Real Estate Investments                                             -                     1,134
Purchases of Premises and Equipment                                                     (734)                     (689)
Proceeds from Sales of Premises and Equipment                                             21                        23
                                                                                -------------             -------------
NET CASH USED BY INVESTING ACTIVITIES                                           $   (151,288)             $   (140,739)
                                                                                -------------             -------------
                                                               
FINANCING ACTIVITIES:                                          
Net (Decrease)/Increase in Demand, Interest Bearing Demand and Savings Deposits       20,555                    (3,870)
Net Increase in Time Certificates of Deposits                                         61,218                    92,833
Proceeds from Issuance of Subordinated Notes                                          38,690                         -
Redemption of Subordinated Note                                                      (15,000)                        -
Cash Dividend Paid                                                                    (2,306)                   (1,747)
Proceeds from Exercise of Stock Options                                                3,015                     1,188
                                                                                -------------             -------------
NET CASH PROVIDED BY FINANCING ACTIVITIES                                       $    106,172              $     88,404
                                                                                -------------             -------------
                                                               
NET CHANGE IN CASH AND CASH EQUIVALENTS                                              (25,031)                  (38,779)
                                         
Cash and Cash Equivalents at Beginning of Period                                     187,009                   163,837
                                                                                -------------             -------------
Cash and Cash Equivalents at End of Period                                      $    161,978              $    125,058
                                                                                =============             =============
                                                               
Supplemental Disclosures of Cash Flow Information:
  Cash Paid During This Period                                 
   Interest                                                                     $     35,932               $    33,373
   Income Taxes                                                                        3,780                     7,647
                                                                                =============              ============
Noncash Investing Activities:                                  
 Loans Transferred to Other Real Estate Owned at Fair Value                     $      4,060               $    12,209
  Loans to Facilitate the Sale of Other Real  Estate Owned                               715                     2,705
                                                                                =============              ============
</TABLE>
See Accompanying Notes to Consolidated Financial Statements

                              
                              
                GBC Bancorp and Subsidiaries
                              

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
------------------------------------------------------
       In   the  opinion  of  management,  the  consolidated
financial  statements  of GBC Bancorp and  its  subsidiaries
(the  "Company") as of September 30, 1997 and the three  and
nine  months ended September 30, 1997 and 1996, reflect  all
adjustments   (which  consist  only  of   normal   recurring
adjustments)  necessary  for a fair  presentation.   In  the
opinion   of  management,  the  aforementioned  consolidated
financial   statements  are  in  conformity  with  generally
accepted accounting principles.

Earnings Per Share
------------------
      Earnings per share are computed based on the  weighted
average   shares   outstanding   including   common    stock
equivalents for the periods disclosed.


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
--------
       
       Net  income  for  the  third  quarter  of  1997   was
$5,858,000,  or $0.82 per share, compared to  $4,980,000  or
$0.70 per share, for the corresponding period of 1996.   The
current  quarter included an after tax extraordinary  charge
of  $488,000 incurred upon an early extinguishment of  debt.
Excluding   the   extraordinary  charge,  net   income   was
$6,346,000, or $0.89 per share.  The increase in net  income
was  primarily due to an increase in net interest income and
a  reduced provision for credit losses, partially offset  by
an increase in non-interest expense.

      For  the  nine  months ended September 30,  1997,  net
income  totaled  $18,062,000, an increase of $4,111,000,  or
29.5%,  from the $13,951,000 earned during the corresponding
period  of  1996.   Earnings per share for the  nine  months
ended  September 30, 1997 were $2.56 compared to  $1.96  for
the same period of 1996.  Excluding the extraordinary charge
discussed  above, net income was $18,550,000, or  $2.63  per
share.  The increase in net income was primarily due  to  an
increase  in  net interest income and a lower provision  for
credit  losses.  The increase in net interest income is  due
to an increase in the net interest spread and an increase in
average  interest  earning  assets.   The  decline  in   the
provision  for  credit losses in 1997 primarily  reflects  a
reduction in non-accrual loans.  Non-accrual loans decreased
to  $8.7 million as of September 30, 1997, compared to $24.1
million  as  of  September 30, 1996.  The  decline  in  non-
accrual  loans  is  a reflection of the improvement  of  the
Southern California economy, in general, and the quality  of
the Bank's real estate loan portfolio, in particular.

      For the quarter ended September 30, 1997 and 1996, the
return  on  average  assets ("ROA")  was  1.60%  and  1.51%,
respectively, and the return on average stockholders' equity
("ROE") was 17.53% and 18.57%, respectively.

      For the nine months ended September 30, 1997 and 1996,
the  ROA  was 1.73% and 1.43%, respectively.  For  the  nine
months ended September 30, 1997 and 1996, the ROE was 19.37%
and  17.94%, respectively.  The improvement of these  ratios
is as explained above.

Recent Developments
-------------------
      In  the  fourth  quarter  of  1997,  there  have  been
significant  disruptions  to certain  financial  markets  in
Asia.    Although   the  Company  engages   in   significant
international trade financing, the majority of the  business
involves  imports and is U.S. dollar denominated.   At  this
time,  management  does not believe that  there  will  be  a
significant impact on the Company.

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

Net Interest Income
-------------------
     For the quarters ended September 30, 1997 and 1996, net
interest  income before the provision for credit losses  was
$15,266,000  and $13,296,000, respectively, representing  an
increase of $1,970,000, or 14.8%.  The components explaining
this increase are discussed below.

      Total  interest income for the quarter ended September
30,  1997  was  $28,189,000, representing a  $4,000,000,  or
16.5%,  increase over the corresponding quarter  of  a  year
ago.  The increase was due to a growth of $142.9 million, or
11.5%,  of average interest earning assets, and a  32  basis
point  increase  on  the yield on average  interest  earning
assets.  For the quarters ended September 30, 1997 and 1996,
the  yield on average interest earning assets was 8.09%  and
7.77%,   respectively.   The  yield  increase  reflects   an
improvement  in  the  percentage of the balance  of  average
accruing loans to average interest earning assets, a decline
in  non-accrual  loans,  and an increase  in  the  yield  on
securities.   For  the  quarter ended  September  30,  1997,
average  accruing  loans  and  leases  to  average  interest
earning  assets was 44%, average nonaccrual  loans  were  $9
million, and the yield on securities was 6.57%, compared  to
41%,  $21 million, and 6.33%, respectively, for the  quarter
ended September 30, 1996.

      Total interest expense for the quarter ended September
30,  1997  was  $12,923,000, representing a  $2,030,000,  or
18.6%,  increase over the corresponding quarter  of  a  year
ago.   The increase was due to a growth of $96.7 million  of
interest  bearing  liabilities, and  an  increased  cost  of
funds.  On July 30, 1997, the Company issued $40 million  of
8.375%  subordinated notes and on September 2, 1997, retired
the  $15  million of 10.52% subordinated debt. The  cost  of
funds  for  the quarter ended September 30, 1997  was  4.47%
compared  to  4.12% for the corresponding ago  period.   The
increase  is  mainly due to an increase  of  rates  paid  on
interest  bearing  deposits  to  4.30%  from  3.99%.    This
increase  was due to a shift in the composition of  deposits
from  interest  bearing demand and savings to time  deposits
and rates were increased on all deposit categories.  For the
quarters ended as indicated, average balance and rates  paid
for the deposit categories were as follows:

<TABLE>
<CAPTION>
(Dollars in thousands)

                                               Sept. 30, 1997      Sept.30, 1996
                                               --------------      -------------
<S>                                                <C>                <C>

Interest bearing demand - Average balance          $235,425           $205,213
                          Rate                       2.32%             2.12%

Savings  - Average balance                         $108,894           $130,432
           Rate                                      2.72%             2.69%

Time certificates of deposit
of $100,000 or more - Average balance              $574,270           $506,566
                      Rate                           5.20%             4.89%

Other  time deposits - Average balance              $192,097          $170,278
                       Rate                          4.90%             4.57%
</TABLE>

      Average  interest  bearing  deposits  increased  $98.2
million with $89.5 million of the growth in the higher  cost
time deposits.

      For  the  nine  months ended September 30,  1997,  net
interest  income before the provision for credit losses  was
$45,160,000,  an increase of $5,943,000, or 15.2%,  compared
to   the  corresponding  period  of  1996.   The  components
explaining this increase are discussed below.

      Total  interest  income  for  the  nine  months  ended
September  30, 1997 was $81,082,000 compared to  $71,968,000
for the corresponding period of a year ago.  The $9,114,000,
or  12.7%,  increase  is primarily the  result  of  both  an
increase  in the balance of average interest earning  assets
and  in  the  yield  on  average  interest  earning  assets.
Average   interest  earning  assets  increased  to  $1,322.5
million  for the nine months ended September 30,  1997  from
$1,233.0 million for the corresponding period of a year ago,
representing  an  $89.5  million, or  7.3%,  increase.   The
growth  was  primarily reflected in the average  balance  of
gross loans and leases which increased by $100.5 million, or
20.0%, to $602.7 million for the nine months ended September
30, 1997 from $502.2 million for the corresponding period of
a year ago.

      The yield on average interest earning assets increased
to  8.20% for the nine months ended September 30, 1997  from
7.80%  for  the  corresponding period of a  year  ago.   The
following mainly contributed to the 40 basis point  increase
of the yield on interest earning assets:

-     Increased  percentage of average  accruing  loans  and
  leases  to average interest earning assets.  For the  nine
  months ended September 30, 1997 and 1996, these percentages
  were 44% and 38%, respectively.
-     A  decline in average non-accrual loans.  For the nine
  months  ended  September 30, 1997 and 1996,  average  non-
  accrual   loans   were  $10  million  and   $30   million,
  respectively.
-    A 24 basis point increase in the yield on the balance
of average securities.  For the nine months ended September
30, 1997 and 1996, the yields were 6.57% and 6.33%,
respectively.

      Total  interest  expense for  the  nine  months  ended
September  30, 1997, was $35,922,000 compared to $32,751,000
for the corresponding period of a year ago.  The increase of
$3,171,000,  or 9.7%, was due to an increase in the  average
balance of interest bearing deposits and an increase in  the
cost of funds.  For the nine months ended September 30, 1997
and  1996, the balance of average interest bearing  deposits
was $1,086.4 million and $1,010.2 million, respectively,  an
increase  of  $76.2  million, or 7.5%.  The  cost  of  funds
increased  to  4.33%  for  the  nine  month  period   ending
September  30, 1997 from 4.17% for the corresponding  period
of  a  year  ago.   The  16  basis point  increase  was  due
primarily  to  increased  rates  paid  on  interest  bearing
deposit  to  4.21%  from 4.04%.  This increase  was  due  to
higher  rates  paid  on time deposits  and  deposit  product
composition.  For the nine months ending September 30,  1997
and  1996, average time deposits represented 68.6% and 65.3%
of  average  total interest-bearing deposits,  respectively.
Further  the  highest costing deposit product, average  time
certificates  of  deposit of $100,000 or  more,  represented
52.0% of average interest bearing deposits compared to 47.8%
for  the  nine  months ended September 30,  1997  and  1996,
respectively.

      The  net  interest spread is defined as the  yield  on
interest  earning  assets less the rates  paid  on  interest
bearing  liabilities.  For the nine months  ended  September
30,  1997  and 1996, the net interest spread was  3.87%  and
3.63%,  respectively.  The increase in the spread is due  to
the reasons explained above.

      The  net  interest margin is defined as the annualized
difference  between  interest income  and  interest  expense
divided  by average interest earning assets.  For  the  nine
months  ended September 30, 1997 and 1996, the net  interest
margin was 4.57% and 4.25%, respectively.


Provision for Credit Losses
---------------------------
      For the quarter ended September 30, 1997, there was no
provision for credit losses compared to $1,000,000  for  the
corresponding period a year ago.

      For  the  nine  months ended September 30,  1997,  the
provision  for  credit  losses was $1,000,000,  compared  to
$3,500,000  for  the  same period of  1996,  a  decrease  of
$2,500,000, or 71.4%.

       The  decline  in  the  provision  for  credit  losses
primarily  reflects the reduction in non-accrual loans.   As
of  September  30,  1997,  non-accrual  loans  totaled  $8.7
million  compared to $11.7 million and $24.1 million  as  of
December 31, 1996 and September 30, 1996, respectively.  The
combination   of   repayments   and   transfers   to    OREO
significantly  impacted the reduction of  non-accrual  loans
for  the  nine months ended September 30, 1997.  The decline
in  non-accrual loans and the corresponding decrease in  the
provision  is also a reflection of the continued improvement
of  the  Southern  California economy, in general,  and  the
quality  of  the  Bank's  real  estate  loan  portfolio,  in
particular.  It also reflects management's emphasis  on  the
successful resolution of problem credits.

      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 September 30,
1997  totaled $1,775,000, representing a $219,000, or 14.1%,
increase  compared  to  $1,556,000  for  the  quarter  ended
September  30, 1996.  The increase was primarily the  result
of  a  $181,000 increase in service charges and  commissions
due  in large measure to increased commissions earned by the
Bank's International Department.

      For  the  nine months ended September 30,  1997,  non-
interest  income totaled $4,900,000 representing a $110,000,
or 2.3%, increase compared to $4,790,000 for the nine months
ended  September  30,  1996.  The net increase  was  due  to
growth in various fee accounts, increased commissions earned
by   the  Bank's  International  Department,  and  increased
service  charges  on deposit accounts.  Non-interest  income
for 1996 included the receipt of a $400,000 one time fee.

Non-Interest Expense
--------------------
      For  the  three months ended September 30, 1997,  non-
interest  expense was $7,293,000, representing a $1,005,000,
or  16.0%,  increase over $6,288,000 for  the  corresponding
period of a year ago.

      The  increase  was  primarily due to  an  increase  of
$862,000  in salaries and employee benefits.  Over  half  of
this  increase is attributable to the profit sharing accrual
caused  by  a  higher  level  of  income  before  taxes  and
extraordinary item.

      A  $791,000  increase in net other real  estate  owned
expense (income) was caused primarily by a reduced net  gain
on  sales  of  OREO,  the recording of a $150,000  valuation
allowance and renovation expenses incurred on a multi-family
condominium  property for the three months  ended  September
30,  1997.  The $791,000 increase was partially offset by  a
$650,000  decline  in  other expenses, representing  various
categories of non-interest expenses.

      For  the  nine months ended September 30,  1997,  non-
interest expense was $20,905,000, representing a $1,286,000,
or   6.6%,  increase  over  $19,619,000  reported  for   the
corresponding period of a year ago.  The increase was caused
mainly  by  a  $1,837,000 increase in salaries and  employee
benefits.   Of  this  increase,  $999,000  was  due  to  the
increased  bonus  accrual which is based  on  income  before
income  taxes  and extraordinary item.  Salaries,  excluding
bonus  accrual,  increased $668,000  due  to  salary  raises
effective in 1997 and an increase in total employees.

      The  increase  in non-interest expense  was  partially
offset  by a $1,045,000 decrease of other expense, comprised
mainly  of a $707,000 reduction in legal fees.  The  reduced
legal fees reflect the decrease of problem loans.

      For  the  nine  months ended September 30,  1997,  the
Company's efficiency ratio, defined as non-interest  expense
divided  by the sum of net interest income plus non-interest
income, declined to 41.8%, comparing favorably to 44.6%  for
the corresponding period of 1996.





Provision for Income Taxes
--------------------------
      For the quarter ended September 30, 1997 and 1996, the
provision  for  income taxes was $3,402,000 and  $2,584,000,
respectively, representing effective tax rates of 34.9%  and
34.2%.

      For  the  nine  months ended September 30,  1997,  the
provision  for  income  taxes was  $9,605,000,  representing
34.1%  of pre-tax income.  The provision for the nine months
ended September 30, 1996, was $6,937,000, representing 33.2%
of pre-tax income.  The lower effective tax rate compared to
the  statutory  rate  is primarily due  to  the  low  income
housing  tax credit that the Bank obtains from its  holdings
in qualified low income housing projects.

Extraordinary Item
------------------
      During  the  quarter  ended September  30,  1997,  the
Company  incurred  an  $841,000  prepayment  for  the  early
extinguishment  of  debt.   This amount,  net  of  taxes  of
$353,000,  is  included  in the consolidated  statements  of
income  as  an  extraordinary item for the  three  and  nine
months ended September 30, 1997.

FINANCIAL CONDITION
-------------------
      Total  assets  as of September 30, 1997 were  $1,487.4
million, an increase of $135.3 million from total assets  of
$1,352.1 million as of December 31, 1996.  The increase  was
due  to a $81.8 million growth of deposits that was invested
primarily  in  investment securities.  As of  September  30,
1997  and  December 31, 1996, total deposits  were  $1,283.3
million and $1,201.5 million, respectively.

Loans
-----
      As  of  September 30, 1997, loans and  leases  totaled
$611.6  million,  representing  a  $9.2  million,  or  1.5%,
increase  from the balance of $602.4 million as of  December
31,   1996.    Growth  in  the  commercial  loan   portfolio
representing $49.1 million was the result of growth  in  the
trade-financing  area which increased  $58.0  million.   The
growth  of  this  category of loan reflects  the  growth  in
international  trade  and  new customer  relationships.   In
addition,  there  was an increase of $15.4 million  of  real
estate - construction.  Partially offsetting the above was a
decrease of $50.0 million of term federal funds sold  and  a
$7.3 million decrease in real estate-conventional loans.

      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>
                                       September 30, 1997    December 31, 1996
                          
(DOLLARS THOUSANDS)                Amount      Percentage    Amount      Percentage
<S>                                <C>         <C>           <C>         <C>
           
Commercial                         $232,388    38.00%        $183,268    30.43%
Real Estate - Construction           81,958    13.40%          66,572    11.05%
Real Estate - Conventional          265,780    43.46%         273,081    45.34%
Other Loans                          23,734     3.88%          22,447     3.72%
Leveraged Leases                      7,718     1.26%           6,986     1.16%
Term Fed Funds Sold                       0     0.00%          50,000     8.30%
                                   --------   -------        --------   -------          
Total                              $611,578   100.00%        $602,354   100.00%
                                   ========   =======        ========   =======
</TABLE>

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 an impaired loan) 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
other  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,
according  to management's judgment as to the collectability
of principal.

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

<TABLE>
<CAPTION>

(IN THOUSANDS)                   September 30, 1997   December 31, 1996

<S>                                         <C>               <C>
                          
Loans 90 Days or More Past Due 
 and Still Accruing                          $2,541             $6,779
Non-accrual Loans                             8,712             11,719
Total Past Due Loans                         11,253             18,498
Restructured Loans                           22,481             23,125
Total Non-performing Loans                   33,734             41,623
Other Real Estate Owned, Net                 14,891             12,988
                                            -------            -------
Total Non-Performing Assets                 $48,625            $54,611
                                            =======            =======
</TABLE>

     Total non-performing assets decreased to $48.6 million,
as of September 30, 1997, from $54.6 million, as of December
31, 1996, representing an $6.0 million, or 11.0%, reduction.
The net decrease was due to reductions in all categories  of
non-performing  loans, partially offset by  an  increase  of
other real estate owned, net.

      The $2.5 million of loans 90 days or more past due and
still  accruing  are comprised of 4 loans.  A  $1.5  million
construction credit is expected to be repaid within a 2 week
period  from  the  date of this filing.  A  second  loan  of
$700,000  has a current loan to value of 33%.  A third  loan
of  $95,000 was paid in full subsequent to quarter-end.  The
final  loan  of  $200,000  continues  paying  principal  and
interest  current.  The past due status of the loan resulted
due to the late processing of the renewal.

      Non-accrual  loans  declined to  $8.7  million  as  of
September  30, 1997, from $11.7 million, as of December  31,
1996, a reduction of $3.0 million, or 25.6%.

     The following table analyzes the decline in non-accrual
loans during the nine months ended September 30, 1997:

<TABLE>
<CAPTION>

(IN THOUSANDS)
<S>                                        <C>

Balance, December 31, 1996                  $11,719
Add: Loans placed on non-accrual             10,873
Less: Charge-offs                            (2,666)
         Returned to accrual status          (2,447)
         Repayments                          (4,750)
         Transfer to OREO                    (4,017)
                                             -------
Balance, September 30, 1997                  $8,712
                                             =======
</TABLE>

      The  following  table breaks out  the  Company's  non-
accrual  loans  by  category as of September  30,  1997  and
December 31, 1996:

<TABLE>
<CAPTION>

(IN THOUSANDS)                  September 30, 1997     December 31, 1996

<S>                                  <C>                   <C>
                                        
Commercial                            $4,578                $3,219
Real Estate-Construction                 455                   477
Real Estate-Conventional               3,669                 8,023
Other Loans                               10                     -
                                      ------               -------
Total                                 $8,712               $11,719
                                      ======               =======
</TABLE>
    
  The balance of restructured loans as of September  30,
1997  was  $22.5  million compared to $23.1  million  as  of
December  31,  1996,  representing  a  $600,000,  or   2.6%,
decrease.   A  loan  is categorized as restructured  if  the
original interest rate on such loan, the repayment terms, or
both,  are  modified due to a deterioration in the financial
condition of the borrower.  Restructured loans may  also  be
put  on  a  non-accrual status in keeping  with  the  Bank's
policy of classifying loans which are 90 days past due as to
principal and/or interest.  Restructured loans which are non-
accrual   loans   are  not  included  in  the   balance   of
restructured  loans.  As of September 30, 1997, restructured
loans  consisted  of fifteen real estate  credits,  and  one
commercial loan secured by a junior lien. As of December 31,
1996,  restructured loans consisted of sixteen  real  estate
credits.   As of September 30, 1997, all restructured  loans
were on accrual status.  The weighted average yield of these
restructured  loans as of September 30,  1997,  was  10.16%.
All  restructured loans are performing pursuant to the terms
and conditions of the restructuring.

      The  following table breaks out the restructured loans
by accrual status as of the dates indicated:

<TABLE>
<CAPTION>

(IN THOUSANDS)         September 30, 1997   December 31, 1996

<S>                              <C>                 <C>
                          
On Accrual Status                 $22,481             $23,125
On Non-accrual Status                   0               2,820
                                  -------             -------
Total                             $22,481             $25,945
                                  =======             =======
</TABLE>

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

      As  of  September  30, 1997, other real  estate  owned
("OREO"),  net  of  valuation  allowance  of  $1.6  million,
totaled  $14.9  million, representing an  increase  of  $1.9
million,  or  14.6%, from the net balance of $13.0  million,
net  of  valuation allowance of $1.8 million, as of December
31,  1996.  As of September 30, 1997 and December 31,  1996,
OREO   consisted   of  25  properties  and  26   properties,
respectively.

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

      The  following table sets forth OREO by property  type
for the dates as indicated:

<TABLE>
<CAPTION>

(IN THOUSANDS)                  September 30, 1997    December 31, 1996
                           
PROPERTY TYPE                                             
<S>                                <C>                <C>

Single-Family Residential               $701                 $901            
Condominium                            3,852                6,284
Multi-Family Residential                 220                    -
Warehouse                                148                    -
Land for Residential                   3,715                1,413
Land for Commercial                      735                  735
Land for Agriculture                      15                    -
Retail Facilities                      7,155                5,228
Office                                     -                  250
Less: Valuation Allowance             (1,650)              (1,823)
                                     --------             --------
Total                                $14,891              $12,988
                                     ========             ========
</TABLE>

      A  loan  is identified as impaired when it is probable
that  interest and principal will not be collected according
to  the  contractual  terms  of the  loan  agreement.   Loan
impairment  is  measured by estimating the  expected  future
cash  flows and discounting them at the respective effective
interest rate, or by valuing the underlying collateral.   Of
the  $20.8  million of impaired loans, as of  September  30,
1997,   $13.5  million  are  included  in  the  balance   of
restructured loans.

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

<TABLE>
<CAPTION>
                              
(IN THOUSANDS)                                  Sept. 30, 1997      Dec. 31, 1996
                                      
<S>                                                  <C>                <C>

Recorded Investment with  Related Allowance            $16,167            $21,210
Recorded Investment with no Related Allowance            4,654              2,303
Total Recorded Investment                               20,821             23,513
Specific Allowance on Impaired Loans                     1,394              2,011

</TABLE>

      The  average balance of gross impaired loans was $23.5
million  for  the nine months ended September 30,  1997  and
$35.7 million for the twelve months ended December 31, 1996.

      Income  recognition  on impaired  loans  uses  methods
existing  for non-accrual loans but can include the  accrual
of interest.  While a loan is in non-accrual status, some or
all of the cash payments received may be treated as interest
income on a cash basis as long as the remaining book balance
of  the loan (i.e. after charge-off of identified losses, if
any)   is  deemed  to  be  fully  collectible.   The  Bank's
determination  as  to  the ultimate  collectibility  of  the
loan's  remaining  book  balance  must  be  supported  by  a
current, well documented credit evaluation of the borrower's
financial  condition and prospects for repayment,  including
consideration   of   the  borrower's  historical   repayment
performance and other relevant factors.  For the nine months
ended   September   30,  1997  and  1996,  interest   income
recognized  on impaired loans was $1,304,000 and $1,696,000,
respectively.   Of the amount of interest income  recognized
during the nine months ended September 30, 1997 and 1996, 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  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 September 30, 1997, the balance of the allowance
for  credit losses was $15.0 million, representing 2.45%  of
outstanding loans and leases.  This compares to an allowance
for  credit losses of $16.2 million as of December 31, 1996,
and  $16.9  million  as of September 30, 1996,  representing
2.69%   and   2.98%   of  outstanding  loans   and   leases,
respectively.  The reduced percentage reflects the reduction
of  non-accrual loans and improvement in the quality of  the
outstanding loan portfolio.

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

<TABLE>
<CAPTION>

(IN THOUSANDS)                September 30, 1997   September 30, 1996
                            
<S>                                   <C>                  <C>
                                          
Balance, Beginning of Period             $16,209              $16,674
Provision for Credit Losses                1,000                3,500
Charge-offs                               (4,207)              (5,077)
Recoveries                                 1,960                1,765
Net Charge-offs                           (2,247)              (3,312)
Balance, End of Period                   $14,962              $16,862

</TABLE>

      As  of  September  30, 1997, the allowance  represents
44.4%  and  172% of non-performing loans and of  non-accrual
loans, respectively.  As of December 31, 1996, the allowance
represented  38.9% and 138% of non-performing loans  and  of
non-accrual loans, respectively.

      Management  believes  that the  allowance  for  credit
losses  is  adequate  to  cover known  and  inherent  losses
related to loans and leases outstanding as of September  30,
1997.

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

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

      As  of September 30, 1997, the Company recorded  gross
unrealized  gains  of  $2,803,000 on its  available-for-sale
portfolio  and  the  inclusion as a  separate  component  of
stockholders'   equity  of  $1,624,000,   representing   the
unrealized holding gain, net of tax.

      The  amortized  cost,  gross unrealized  gains,  gross
unrealized losses and fair value of securities at  September
30, 1997 and December 31, 1996 were as follows:

<TABLE>
<CAPTION>
                                                             Gross          Gross    
(In Thousands)                            Amortized        Unrealized     Unrealized        Fair
September 30, 1997                         Cost             Gains          Losses           Value
---------------------------------------------------------------------------------------------------                          
<S>                                  <C>               <C>           <C>             <C>

Securities Held to Maturity
---------------------------  
 State and Municipal Securities        $       988      $       3      $       -       $      991
 U.S. Government Agencies                   48,970            138              -           49,108
 Collateralized Mortgage Obligations            47              -              -               47
                                       ------------------------------------------------------------
Total Securities Held to Maturity      $    50,005      $     141      $       -       $   50,146
                                       ============================================================  
Securities Available for Sale
-----------------------------  
  U.S. Treasuries                      $     6,897      $      11      $       -       $    6,908
  U.S. Government Agencies                 175,699            327              -          176,026
  Mortgage Backed Securities                60,620            138              -           60,758
  Corporate Notes                           16,007            265              -           16,272
  Collateralized Mortgage Obligations      204,116            486              -          204,602
  Asset Backed Securities                  128,328          1,576              -          129,904
  Auction Preferred Stock                   26,000              -              -           26,000
  Other Securities                           5,595              -              -            5,595
                                       ------------------------------------------------------------
Total Securities Available for Sale    $   623,262      $   2,803      $       -       $  626,065
                                       ============================================================
</TABLE>
                                              
<TABLE>
<CAPTION>
                                              
                                              
                                                            Gross           Gross    
(In Thousands)                            Amortized       Unrealized      Unrealized        Fair
December 31, 1996                           Cost            Gains          Losses          Value
---------------------------------------------------------------------------------------------------       
<S>                                  <C>              <C>            <C>              <C>
                                              
Securities Held to Maturity
---------------------------  
 State and Municipal Securities        $     2,222      $      28      $       -       $    2,250
 Collateralized Mortgage Obligations            56              6              -               62
 Asset Backed Securities                     9,996            155              -           10,151
                                       ------------------------------------------------------------
Total Securities Held to Maturity      $    12,274      $     189      $       -       $   12,463
                                       ============================================================  
Securities Available for Sale
-----------------------------  
  U.S. Treasuries                      $     1,918      $       -      $     (27)      $    1,891
  U.S. Government Agencies                 160,718              -            (52)         160,666
  Mortgage Backed Securities                51,503              -           (247)          51,256
  Corporate Notes                           19,014            580              -           19,594
  Collateralized Mortgage Obligations      165,517            281              -          165,798
  Asset Backed Securities                   37,474            460              -           37,934
  Auction Preferred Stock                   72,450              -              -           72,450
  Other Securities                          10,107            125              -           10,232
                                        -----------------------------------------------------------
Total Securities Available for Sale     $  518,701       $  1,446       $   (326)       $ 519,821
                                        ===========================================================

</TABLE>

     There were no sales of securities available for sale or
held to maturity during the nine months ended September  30,
1997 and 1996.


Deposits
--------
      The Company's deposits totaled $1,283.3 million as  of
September 30, 1997, representing an $81.8 million, or  6.8%,
increase  from  total  deposits of $1,201.5  million  as  of
December  31,  1996.  The growth for the nine  months  ended
September 30, 1997, was primarily due to increases  in  time
deposits, which grew $61.2 million, or 8.6%.  Also, interest
bearing  demand reflected an increase of $19.3  million,  or
9.0%.   During  this  same  period savings  decreased  $11.0
million, or 9.2%.

      There  are  no  brokered  deposits  outstanding.   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 deposits of  $100,000  or  more
having  maturities  of one year or less,  historically,  the
depositors  have  generally  renewed  their  deposits   upon
maturity.   Accordingly, the Company  believes  its  deposit
source to be stable.

      The  maturity schedule of time certificates of deposit
of  $100,000  or  more,  as of September  30,  1997,  is  as
follows:

<TABLE>
<CAPTION>

(IN THOUSANDS)                             
<S>                                      <C>

3 Months or Less                           $273,430
Over 3 Months Through One Year              287,160
Over One Year through 5 Years                 1,440
                                           --------
Total                                      $562,030
                                           ========       
</TABLE>

Other Borrowings
----------------
      As  previously reported, on July 30, 1997, the Company
issued,  through  a public offering, $40 million  of  8.375%
subordinated  notes  due August 1, 2007.   On  September  2,
1997,   the  Company  prepaid  the  $15  million  of  10.52%
subordinated debentures that had been issued through private
placement.    The   prepayment   premium   for   the   early
extinguishment  of  the  debt was $841,000  pre-tax  and  is
included as an extraordinary item, net of taxes of $353,000.
The  8.375%  subordinated notes Indenture (the  "Indenture")
dated  as  of  July 30, 1997, between the  Company  and  BNY
Western Trust Company contains certain terms, provisions and
conditions.   As  of September 30, 1997, in the  opinion  of
management,  the  Company  was in compliance  with  all  the
terms, conditions and provisions of the Indenture.

     The $40 million notes add to Tier 2 capital and further
contribute to the capital strength of the Company.

Capital Resources
-----------------
      As of September 30, 1997, stockholders' equity totaled
$138.9 million, an increase of $22.3 million, or 19.1%, from
$116.6  million as of December 31, 1996.  The  increase  was
due  to  net  income of $18.1 million, less  cash  dividends
declared  to  stockholders of $2.5  million,  plus  the  net
change in the securities valuation allowance, net of tax, of
$1.0 million, plus the exercise of stock options and related
tax  benefits  of  $5.7 million, for the nine  months  ended
September 30, 1997.

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

<TABLE>
<CAPTION>

                                 Well-Capitalized      Sept. 30,   December 31,
                                    Standards            1997         1996
<S>                                   <C>          <C>            <C>

GBC Bancorp                                           
Tier 1 Leverage Ratio                      5%           9.42%          8.74%
Tier 1 Risk-Based Capital Ratio            6%          13.19%         11.97%
Total Risk-Based Capital Ratio            10%          18.18%         13.69%
General Bank                                               
Tier 1 Leverage Ratio                      5%           8.80%          8.61%
Tier 1 Risk-Based Capital Ratio            6%          12.06%         11.81%
Total Risk-Based Capital Ratio            10%          13.31%         13.06%

</TABLE>


Liquidity and Interest Rate Sensitivity
---------------------------------------
      Liquidity measures the ability of the Company to  meet
fluctuations  in deposit levels, to fund its operations  and
to  provide for customers' credit needs. 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  $771.5
million, or 51.9% of total assets, as of September 30, 1997,
compared to $717.0 million, or 53.0% of total assets, as  of
December 31, 1996.

      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
currently equal to 25 percent of assets with terms up to 360
months.   As  of  September 30, 1997,  the  Company  has  no
borrowing outstanding under this financing facility with the
FHLB. Management believes its liquidity sources to be stable
and adequate.

      As  of  September  30, 1997, total  loans  and  leases
represented 47.7% of total deposits.  This compares to 50.1%
as of December 31, 1996.

      The  liquidity of the parent company, GBC Bancorp,  is
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
nine   months   ended  September  30,  1997,  General   Bank
paid/declared $7.5 million of cash dividends to GBC Bancorp.

        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, investments, 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.

       The   Company  has  only  limited  involvement   with
derivative financial instruments and does not use  them  for
trading  purposes.  As of September 30, 1997,  one  contract
totaling $1 million was outstanding.  These instruments  are
used  to  manage the interest rate risk from the origination
of  fixed  rate residential mortgage loans for sale  in  the
secondary  markets.   The  Company  utilizes  Treasury  note
futures  and forward sales of mortgage-backed securities  to
hedge  interest  rate risk associated with  its  residential
mortgage  banking  activities.   Futures  and  forward  sale
contracts  provide  for  sale of the underlying  securities,
including mortgage-backed securities, at a specified  future
date,  at  a  specified price or yield.  The amount  of  the
futures  and  forward sale contracts is  determined  by  the
aggregate  amount  of  fixed rate commitments  for  mortgage
loans  that  are expected to be funded plus  the  amount  of
fixed  rate residential mortgages categorized as being  held
for  sale  that have not been sold.  The fair value  of  the
underlying futures and forward sale contracts is expected to
move  inversely to the change in fair value of the  mortgage
loans.

      The  Company  never intends to deliver the  underlying
securities  that  the  futures and  forward  sale  contracts
commit to sell, rather it purchases offsetting contracts  to
eliminate  the  obligation.  The Company is exposed  to  the
risk  that the fair value of futures contracts, being  based
on   the   value  of  the  Treasury  note  will   not   move
proportionately  with the change in value  of  the  mortgage
loans  being  hedged.  This basis risk is unpredictable  and
can  result  in economic loss to the Company.  There  is  no
basis  risk related to the use of forward sale contracts  on
mortgage-backed securities since their fair value  is  based
on  similar  mortgage loans.  However, a gain or  loss  will
arise  from  the difference between the fair value  and  the
forward sale price of the mortgage-backed security.  At  the
time  the  obligation  of  the  forward  sales  contract  or
treasury note future is eliminated, a resulting gain or loss
is  included in the computation of the gain/loss on sale  of
loans,  net,  and  accordingly, is included in  non-interest
income.    In   addition,   as  of   month-end,   unrealized
gains/losses  on  outstanding  contracts  are  recorded  and
included in gain/loss on sale of loans, net.

      As  of September 30, 1997 and December 31, 1996, there
were  outstanding fixed rate mortgages held for sale of $5.0
million and $1.9 million, respectively, and a notional value
of  derivative instruments of $1.0 million and $0.5 million,
respectively.  For the nine months ended September 30,  1997
and 1996, the Company had realized net losses of $31,000 and
$7,000,  respectively,  related to its  hedging  activities.
There  was  a  $10,000 unrealized loss  related  to  hedging
activities  as of September 30, 1997.  For the  nine  months
ended  September 30, 1997 and 1996, unrealized  losses  were
$12,000 and $0, respectively.

      Initial margin requirements and daily calls on futures
contracts are met in cash.  There are no margin requirements
nor  daily calls on forward sale contracts since whole loans
are expected to be delivered to fulfill the commitment.

      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
various time periods, the 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  "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  originated  as  a  means  to  provide
management with a tool to monitor repricing differences,  or
"gaps",    between   assets   and   liabilities    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.   "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.

      The  Company uses a simulation analysis to attempt  to
predict  changes  in  the yields earned on  different  asset
categories and the rates paid on liabilities in relation  to
changes   in  market  interest  rates.   The  analysis   has
concluded  that the Bank's liabilities reprice  more  slowly
than  it's  assets, and the Company's balance  sheet  has  a
positive  gap  when the timing of repricing  is  taken  into
account.   This  results  in  an interest  rate  sensitivity
profile  for the Company where it has exposure to a downward
shift  in  interest rates.  The Company has  established  an
internal policy to manage its net interest income volatility
to  a  change of 10% when the simulation is using an assumed
instant change of money market rates of 100 basis points and
to a change of 15% when the assumed rate change is 200 basis
points.   As  of  September 30, 1997, the Company  was  well
within the policy limits.

      As  of September 30, 1997, there was a cumulative  one
year  negative  "gap"  of  $438.4 million,  up  from  $311.4
million,  as  of  December  31, 1996.   The  $127.0  million
increase   in  the  gap  was  caused  by  the  purchase   of
intermediate   maturity  investment  securities   and   loan
activity.   The negative gaps would appear to be  predictive
of  an increase in the net interest margin if interest rates
were  to  fall significantly.  However, as discussed  above,
due  to the lag in the downward repricing of the rates  paid
on  liabilities versus the immediate downward  repricing  of
its assets, the Company would not anticipate a corresponding
increase in the net interest margin should rates decline.

      The  following table indicates the Company's  interest
rate sensitivity position as of September 30, 1997, and  may
not be reflective of positions in subsequent periods:

<TABLE>
<CAPTION>

                                                    SEPTEMBER 30,1997
                                              INTEREST SENSITIVITY PERIOD
-----------------------------------------------------------------------------------------------------------------------------    
                                      0 to 90         91 to 365       Over 1 Year       Over          Non-Interest         
(In Thousands)                         Days             Days          to 5 Years        5 Years       Erng/Bearing       Total
-----------------------------------------------------------------------------------------------------------------------------    
<S>                                <C>             <C>              <C>              <C>           <C>             <C>
Earning Assets:                                                                   
Securities Available for Sale        $   51,723      $   44,755      $   153,649      $   375,938             -      $   626,065
Securities Held to Maturity                 987               -           33,126           15,892             -           50,005
Federal Funds Sold & Securities                                                                               
Purchased Under Agreement to Resell     122,200               -                -                -             -          122,200
Loans and Leases (1) (2)                415,860          34,184           78,313           74,510             -          602,867
Non-Earning Assets (2)                        -               -                -                -        86,214           86,214
                                     -----------     -----------     ------------     ------------    ----------     -----------  
Total Assets                         $  590,770      $   78,939      $   265,088      $   466,340     $  86,214      $ 1,487,351
                                     ===========     ===========     ============     ============    ==========     ============
                                                                              
Source of Funds for Assets:
                                                                                  
Deposits:                                                                         
 Demand                              $        -      $        -      $         -      $         -     $ 171,024      $   171,024
 Interest Bearing Demand                232,923               -                -                -             -          232,923
 Savings                                108,348               -                -                -             -          108,348
 TCD'S Under $100,000                    89,719         116,568            2,674                -             -          208,961
 TCD'S $100,000 and Over                276,528         284,062            1,440                -             -          562,030
                                     -----------     -----------     ------------     ------------    ----------     -----------

 Total Deposits                      $  707,518      $  400,630      $     4,114      $         -     $ 171,024      $ 1,283,286
                                     -----------     -----------     ------------     ------------    ----------     ------------
                                                                              
Subordinated Debt                    $        -      $       -       $         -      $    38,712     $       -      $    38,712
Other Liabilities                             -              -                 -                -        26,460           26,460
Stockholders' Equity                          -              -                 -                -       138,893          138,893
                                     -----------     -----------     ------------     ------------    ----------     ------------
Total Liabilities                                                                 
and Stockholders' Equity             $  707,518      $ 400,630       $     4,114      $    38,712     $ 336,377      $ 1,487,351
                                     ===========     ===========     ============     ============    ==========     ============
                                                                              
Interest Sensitivity Gap              ($116,748)     ($321,691)         $260,974         $427,628     ($250,163)           
      
Cumulative Interest Sensitivity 
 Gap                                  ($116,748)     ($438,439)        ($177,465)        $250,163             -           
                      
Gap Ratio (% of Total Assets)              -7.8%         -21.6%             17.5%            28.8%        -16.8%         

Cumulative Gap Ratio                       -7.8%         -29.5%            -11.9%            16.8%          0.0%           

</TABLE>
         
(1) Loans and leases are before unamortized deferred loan fees and allowance
    for credit losses.
(2) Non-accrual loans are included in non-earning assets.
    

Forward-Looking Statements
--------------------------
     Certain statements contained herein, including, without
limitation,  statements  containing  the  words  "believes,"
"intends," "expects" and words of similar import, constitute
"forward-looking  statements"  within  the  meaning  of  the
Private  Securities Litigation Reform  Act  of  1995.   Such
forward-looking statements involve known and unknown  risks,
uncertainties  and other factors that may cause  the  actual
results,  performance or achievements of the Company  to  be
materially different from any future results, performance or
achievements  expressed or implied by  such  forward-looking
statements.    Such  factors  include,  among  others,   the
following:  general  economics and  business  conditions  in
those  areas  in  which  the Company  operates;  demographic
changes;   competition;  fluctuations  in  interest   rates;
changes  in business strategy or development plans;  changes
in   governmental  regulation;  credit  quality;  and  other
factors  referenced  herein, including, without  limitation,
under  the  captions  Provision  for  Credit  Losses,   Non-
Performing   Assets,  Allowance  for  Credit   Losses,   and
Liquidity  and  Interest  Rate  Sensitivity.   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
------------------------------
       In  February  1997,  the  FASB  issued  Statement  of
Financial Accounting Standards (SFAS) No. 128, "Earnings per
share".   SFAS  128 establishes standards for computing  and
presenting  basic  and diluted earnings  per  share  and  is
effective  for  financial  statement  periods  ending  after
December  15,  1997.  Earlier application is not  permitted.
SFAS  128 replaces the presentation of primary earnings  per
share  with  a  presentation of basic  earnings  per  share.
Diluted  earnings per share is computed similarly  to  fully
diluted   earnings   per   share  pursuant   to   SFAS   15.
Implementation of SFAS 128 will not have a material  adverse
effect  on  the Company's financial condition or results  of
operations.

       In   February,  1997,  the  FASB  issued  SFAS   129,
"Disclosure  of Information about Capital Structure".   This
statement  was  issued in connection  with  SFAS  128.   The
statement lists required disclosures about capital structure
that  had  been included in a number of previously  existing
separate statements and opinions.  Whereas SFAS 128  applies
only  to public entities, the guidance relative to SFAS  129
is  applicable to both public and non-public entities.  SFAS
129 is effective for financial statements for periods ending
after  December 15, 1997.  Implementation of SFAS  129  will
not   have  a  material  adverse  effect  on  the  Company's
financial condition or results of operations.

      In  June  1997,  the FASB issued SFAS 130,  "Reporting
Comprehensive Income".  Comprehensive income represents  the
change  in  equity  of  the Company  during  a  period  from
transactions  and other events and circumstances  from  non-
owner  sources.  It includes all changes in equity during  a
period except those resulting from investments by owners and
distributions to owners.  SFAS 130 establishes standards for
reporting  and  display  of  comprehensive  income  and  its
components  in  a  full  set  of general  purpose  financial
statements.  It does not, however, specify when to recognize
or  how  to measure items that make up comprehensive income.
This  statement requires all items that are required  to  be
recognized  under  accounting  standards  as  components  of
comprehensive  income be reported in a  financial  statement
that  is  displayed  in  equal  prominence  with  the  other
financial statements.  It does not require a specific format
for  that financial statement, but will require the  Company
to display an amount representing total comprehensive income
for  the  period in that financial statement.  SFAS  130  is
effective  for  both  interim and annual  periods  beginning
after  December 15, 1997.  Implementation of SFAS  130  will
not   have  a  material  adverse  effect  on  the  Company's
financial condition or results of operations.

      In  June  1997, the FASB issued SFAS 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.
Implementation of SFAS 131 will not have a material  adverse
effect  on  the Company's financial condition or results  of
operations.

                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                              
                 PART II - OTHER INFORMATION




























Item 1. LEGAL PROCEEDINGS
-------------------------
      The  Bank  is a defendant in various lawsuits  arising
from  the  normal  course of business.   No  material  legal
proceedings to which the Registrant or its subsidiaries is a
party  have been initiated or terminated during the  quarter
ended  September 30, 1997.  There have been  no  significant
developments  in  any  material  pending  legal  proceedings
involving  the  Registrant or its subsidiaries  during  this
same quarter.


Item 2.  CHANGES IN SECURITIES
------------------------------
      There  have been no changes in the securities  of  the
Registrant during the quarter ended September 30, 1997.


Item 3.  DEFAULT UPON SENIOR SECURITIES
---------------------------------------
     This item is not applicable.

Item  4.   SUBMISSION  OF MATTERS TO A  VOTE  OF  SECURITIES HOLDERS
--------------------------------------------------------------------
     No matters were submitted to a vote of security holders
during the quarter ended September 30, 1997.


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: __________________     s/ ______________________
                              Li-Pei Wu, Chairman,
                              President and Chief
                              Executive Officer



Dated: ___________________    s/ _______________________
                              Peter Lowe, Executive
                              Vice President and
                              Chief Financial Officer