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

         California                     95-3586596
       --------------                  -------------
(State  or  other jurisdiction of     (I.R.S. Employer 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
                                                    --------------
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, 6,794,199 shares issued and
                                -----------
outstanding as of  June 30, 1997.
                 -----------------







                      TABLE OF CONTENTS



PART I  FINANCIAL INFORMATION .............................
                                                          
Item 1. Financial Statements ..............................
        
Item 2. Management's   Discussion   and   Analysis   of   
        Financial  Condition and Results of  Operations ...  
                                                           
                                                          
PART II OTHER INFORMATION .................................
        
Item 1. Legal Proceedings .................................
        
Item 2. Changes In Securities .............................
     
Item 3. Default Upon Senior Securities ....................
       
Item 4. Submission  Of Matters To A Vote Of  Securities  
        Holders ...........................................
                                                          
Item 5. Other Information .................................
        
Item 6. Exhibits And Reports On Form 8-K ..................
                                                          
                                                          
                                                          
PART III- SIGNATURES ......................................
      
                              
               PART I - FINANCIAL INFORMATION
                              
                              
<TABLE>                       
                              
                              
                              
                      GBC Bancorp and Subsidiaries
             Consolidated Statement of Financial Condition
                                                  June 30,    December 31,
(In Thousands, Except Share Data)                    1997         1996
--------------------------------------------------------------------------             
                                                 (Unaudited)
ASSETS                                                                  
<S>                                           <C>         <C>
Cash and Due From Banks                            $47,641     $46,809
Federal Funds Sold and Securities Purchased                             
Under Agreements to Resell                         115,000     140,200
Securities Available for Sale at Fair Value                             
  (Amortized Cost of $562,634 and $518,701 at 
  June 30, 1997 and December 31, 1996, 
  respectively)                                    562,706     519,821
Securities Held to Maturity (Fair Value of                              
  $54,596 and $12,463 at June 30,1997 and 
  December 31, 1996, respectively)                  54,461      12,274
Loans and Leases                                   610,141     602,354
Less:  Allowance for Credit Losses                 (14,936)    (16,209)
          Deferred Loan Fees                        (3,520)     (3,638)
                                                  ---------   ---------        
Loans and Leases, Net                              591,685     582,507
Bank Premises and Equipment, Net                     5,726       5,806
Other Real Estate Owned, Net                        15,051      12,988
Due From Customers on Acceptances                    8,190       6,535
Real Estate Held for Investment                      9,023       9,686
Accrued Interest Receivable and Other Assets        14,889      15,489
                                                ----------  ----------           
  Total Assets                                  $1,424,372  $1,352,115
                                                ==========  ==========                    
LIABILITIES AND STOCKHOLDERS' EQUITY                                    
                                                                      
Deposits:                                                               
 Demand                                           $148,082    $158,728
 Interest Bearing Demand                           232,415     213,697
 Savings                                           108,195     119,315
 Time Deposits of $100,000 or More                 588,287     545,578
 Other Time Deposits                               181,542     164,195
                                                 ---------   ---------
Total Deposits                                   1,258,521   1,201,513
                                                                      
Federal Funds Purchased and Securities Sold                             
  Under Repurchase Agreements                            -           -
Subordinated Debt                                   15,000      15,000
Acceptances Outstanding                              8,190       6,535
Accrued Expenses and Other Liabilities              15,398      12,431
                                                  --------    --------        
  Total Liabilities                             $1,297,109  $1,235,479
                                                                      
Stockholders' Equity:                                                   
 Common Stock, No Par or Stated Value;                                  
   20,000,000 Shares Authorized; 6,794,199 and                          
   6,766,469 Shares Outstanding at June 30,                             
   1997 and December 31, 1996, respectively        $47,938     $47,281
 Securities Valuation Allowance, Net of Tax             42         646
 Retained Earnings                                  79,290      68,716
 Foreign Currency Translation Adjustments               (7)         (7)
                                                ----------  ----------              
  Total Stockholders' Equity                       127,263     116,636
                                                ----------  ----------
  Total Liabilities and Stockholders' Equity    $1,424,372  $1,352,115
                                                ==========  ==========
</TABLE>

See Accompanying Notes to Consolidated Financial Statements
                                                                        
                                                                      
                              
<TABLE>
                              
                              
                              
                      GBC Bancorp and Subsidiaries
                    Consolidated Statement of Income
                               (Unaudited)
                                                                      
                                         Three Months Ended        Six Months Ended    
                                              June 30,                 June 30,
(In Thousands, Except Per Share Data)     1997        1996         1997       1996   
-----------------------------------------------------------------------------------                      
<S>                                  <C>         <C>          <C>        <C>

INTEREST INCOME                                                           
  Loans and Leases                     $15,677     $12,989      $30,970    $25,268
  Securities Available for Sale          8,801       9,208       17,089     17,325
  Securities Held to Maturity              505         577          764      1,225
  Federal Funds Sold and Securities 
    Purchased under Agreements 
    to Resell                            2,176       1,721        4,070      3,961
                                        -------     -------      -------    -------                         
    Total Interest Income               27,159      24,495       52,893     47,779
                                                                          
INTEREST EXPENSE                                                          
  Interest Bearing Demand                1,319       1,111        2,477      2,255
  Savings                                  799         950        1,563      1,881
  Time Deposits of $100,000 or More      7,311       6,259       14,088     11,937
  Other Time Deposits                    2,121       2,140        4,071      4,318
  Federal Funds Purchased and 
    Securities Sold under Repurchase                                                  
    Agreements                               -         333            2        669
  Subordinated Debt                        399         399          798        798
                                        -------     -------      -------    -------                                       
    Total Interest Expense              11,949      11,192       22,999     21,858
                                                                          
    Net Interest Income                 15,210      13,303       29,894     25,921
  Provision for Credit Losses                -       1,000        1,000      2,500
                                        -------     -------      -------    -------                                        
    Net Interest Income after 
      Provision for Credit Losses       15,210      12,303       28,894     23,421
                                                                          
NON-INTEREST INCOME                                                       
  Service Charges and Commissions        1,424       1,257        2,766      2,805
  Gain on Sale of Loans, Net                24          16           74        101
  Gain on Sale of Fixed Assets               -           8            -          8
  Gain on Sale of Real Estate 
    Investment                               -           -            -        101
  Other                                    153         121          285        219
                                        -------     -------      -------    -------                                     
    Total Non-Interest Income            1,601       1,402        3,125      3,234
                                                                          
NON-INTEREST EXPENSE                                                      
  Salaries and Employee Benefits         4,032       3,440        7,801      6,826
  Occupancy Expense                        714         687        1,408      1,362
  Furniture and Equipment Expense          453         395          873        791
  Net Other Real Estate Owned Expense      236         419          479        906
  Other                                  1,387       1,802        3,051      3,446
                                        -------     -------      -------    -------                                   
    Total Non-Interest Expense           6,822       6,743       13,612     13,331
                                                                          
Income before Income Taxes               9,989       6,962       18,407     13,324
Provision for Income Taxes               3,529       2,300        6,203      4,353
                                        -------     -------     --------    -------                                 
    Net Income                          $6,460      $4,662      $12,204     $8,971
                                        =======     =======     ========    =======
    Earnings Per Share                   $0.92       $0.66        $1.75      $1.27
                                                                     
</TABLE>
                                                                          
See Accompanying Notes to Consolidated Financial Statements







                        GBC Bancorp and Subsidiaries
                   Consolidated Statement of Cash Flows
                               (unaudited)

<TABLE>
                                              For the Six Months Ended
                                                      June 30,
(In Thousands, Except Per Share Data)             1997             1996
-----------------------------------------------------------------------         
OPERATING ACTIVITIES:                                                
<S>                                         <C>              <C>
Net Income                                      $12,204          $8,971

Adjustments to Reconcile Net Income to Net                           
CashProvided by Operating Activities:                                    

Depreciation                                        584             556
Net Accretion of Discounts on Securities           (127)         (1,186)
Writedown on Real Estate Held for Investment        663             761
Provision for Credit Losses                       1,000           2,500
Provision for Losses on Other Real Estate 
  Owned                                               -             554
Amortization of Deferred Loan Fees               (1,137)         (1,136)
Gain on Sale of Loans                               (74)           (101)
Gain on Sale of Real Estate Investment                -            (101)
Loss on Sale of Other Real Estate Owned              10               2
Gain on Sale of Fixed Assets                          -              (8)
Loans Originated for Sale                       (14,369)        (18,125)
Proceeds from Sales of Loans 
  Originated for Sale                            15,596          23,755
Net Decrease/(Increase) in Accrued Interest                          
  Receivable and Other Assets                     1,044            (48)
Net Increase/ (Decrease) in Accrued Expenses                         
  and Other Liabilities                           2,829         (1,646)
Other, Net                                            -             (2)
                                               --------       ---------               
NET CASH PROVIDED BY OPERATING ACTIVITIES       $18,223        $14,746
                                               --------       ---------                      
INVESTING ACTIVITIES:                                                
Purchases of Securities Available for Sale     (246,952)      (454,068)
Proceeds from Maturities of Securities                               
  Available for Sale                            203,118         384,059
Purchases of Securities Held to Maturity        (42,940)              -
Proceeds from Maturities of Securities Held                          
  to Maturity                                       781           9,580
Net Increase in Loans and Leases                (13,895)        (62,049)
Proceeds from Sales of Other Real Estate                             
  Owned                                           1,996           1,522
Capitalized Costs of Other 
  Real Estate Owned                                (368)              -
Proceeds from Sales of Real 
  Estate Investments                                  -           1,134
Purchases of Premises and Equipment                (505)           (631)
Proceeds from Sales of Bank Premises and                             
  Equipment                                           -              19
                                                --------       --------                      
NET CASH USED BY INVESTING ACTIVITIES          $(98,765)      $(120,434)
                                                --------       --------
FINANCING ACTIVITIES:                                                
Net (Decrease)/Increase in Demand, 
  Interest Bearing Demand and Saving Deposits    (3,048)         13,659
Net Increase in Time Certificates of Deposits    60,056         101,133
Cash Dividend Paid                               (1,491)         (1,074)
Proceeds from Exercise of Stock Options             657             784
                                                --------       --------                      
NET CASH PROVIDED BY FINANCING ACTIVITIES       $56,174        $114,502
                                                                    
NET CHANGE IN CASH AND CASH EQUIVALENTS         (24,368)          8,814
Cash and Cash Equivalents 
  at Beginning of Period                        187,009         163,837
                                               ---------       --------
Cash and Cash Equivalents at End of Period     $162,641        $172,651
                                               ---------       --------                      
Supplemental Disclosures of Cash Flow                                
Information:
  Cash Paid During This Period                                       
   Interest                                     $23,075         $21,797
   Income Taxes                                     920           4,180
                                               ---------       --------                        
Noncash Investing Activities:                                        
  Loans Transferred to Other Real Estate         
    Owned at Fair Value                          $3,862         $10,180
  Loans to Facilitate the Sale of Other Real                      
    Estate Owned                                      -             262
                                               ---------       --------                        
</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 June 30, 1997 and December 31,  1996,
and  the six and three months ended June 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  second  quarter  of  1997  was
$6,460,000,  or $0.92 per share, compared to $4,662,000,  or
$0.66  per  share,  for the corresponding  period  of  1996,
representing the sixth consecutive record setting  quarterly
net  income for the Company.  The increase in the net income
for  the  second  quarter was primarily  the  result  of  an
increase in net interest income and a reduced provision  for
credit losses.

      For  the  six months ended June 30, 1997,  net  income
totaled  $12,204,000, an increase of $3,233,000,  or  36.0%,
from  the $8,971,000 earned during the corresponding  period
of  1996.  Earnings per share for the six months ended  June
30, 1997 were $1.75 compared to $1.27 for the same period of
1996.   The increase in net income was primarily due  to  an
increase  in  net  interest income  combined  with  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  $9.6 million  as  of  June  30,  1997,
compared to $19.0 million as of June 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 June 30, 1997  and  1996,  the
return  on  average  assets ("ROA")  was  1.87%  and  1.41%,
respectively, and the return on average stockholders' equity
("ROE")   was   21.22%   and  18.16%,   respectively.    The
improvement of these ratios is as explained above.

      For  the six months ended June 30, 1997 and 1996,  the
ROA  was 1.80% and 1.39%, respectively.  For the six  months
ended June 30, 1997 and 1996, the ROE was 20.40% and 17.61%,
respectively.   The  improvement  of  these  ratios  is   as
explained above.

Recent Developments

     On July 28, 1997, GBC Bancorp announced the issuance of
$40 million of 8.375% subordinated notes due August 1, 2007.

      The  net proceeds to GBC Bancorp from the sale of  the
notes  (after  deducting the underwriting discount  and  the
estimated  expenses  of the offering) are  estimated  to  be
$38,390,000.   GBC Bancorp intends to use a portion  of  the
net  proceeds  for  general corporate  purposes,  which  may
include  the  repayment of it's $15 million  of  outstanding
subordinated  debentures, repurchases of it's  common  stock
and possible future acquisitions.  GBC Bancorp's $15 million
outstanding  subordinated debentures have a stated  maturity
of  September 1, 2000 and bear interest at a rate of 10.52%.
Although GBC Bancorp has no contractual right to prepay  the
subordinated   debentures,  it  is   currently   negotiating
prepayment  with  the holder of such debentures.   Any  such
prepayment would require a prepayment premium which would be
paid  with  a  portion of the net proceeds.   Pending  their
ultimate application, the net proceeds may be loaned to  the
Bank  or  invested in short term investment grade  financial
instruments.  The notes are expected to be treated as Tier 2
capital  for  regulatory purposes.  As Tier 2 capital,  they
will help to strengthen further the capital structure of the
Company.




RESULTS OF OPERATIONS


Net Interest Income

      For  the  quarter ended June 30, 1997  and  1996,  net
interest  income before the provision for credit losses  was
$15,210,000  and $13,303,000, respectively, representing  an
increase of $1,907,000, or 14.3%.  The components describing
this change are described below.

      Total  interest income for the quarter ended June  30,
1997  was $27,159,000, representing a $2,664,000, or  10.9%,
increase over the corresponding quarter of a year ago.   The
increase  was due to a growth of $43.3 million, or 3.4%,  of
average  interest  earning assets,  and  a  54  basis  point
increase on the yield on interest earning assets.   For  the
quarter  ended June 30, 1997 and 1996, the yield on interest
earning assets was 8.33% and 7.79%, 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
June  30,  1997, average accruing loans to average  interest
earning  assets was 45%, average nonaccrual  loans  were  $9
million, and the yield on securities was 6.62%, compared  to
37%,  $31 million, and 6.20%, respectively, for the  quarter
ended June 30, 1996.

      Total interest expense for the quarter ended June  30,
1997  was  $11,949,000, representing a  $757,000,  or  6.8%,
increase over the corresponding quarter of a year ago.   The
increase  was due to a growth of $22.6 million  of  interest
bearing  liabilities, and an increased cost of  funds.   For
the  quarter ended June 30, 1997 and 1996, the cost of funds
was 4.33% and 4.15%, respectively.

      For  the  six months ended June 30, 1997, net interest
income   before   the  provision  for  credit   losses   was
$29,894,000,  an increase of $3,973,000, or 15.3%,  compared
to   the  corresponding  period  of  1996.   The  components
describing this change are described below.

     Total interest income for the six months ended June 30,
1997  was  $52,893,000  compared  to  $47,779,000  for   the
corresponding  period  of a year ago.   The  $5,114,000,  or
10.7%,  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 $1,292.2 million  for  the  six
months  ended  June 30, 1997 from $1,229.8 million  for  the
corresponding  period  of a year ago, representing  a  $62.4
million,  or 5.1%, increase.  This growth was primarily  the
result  of a $110.7 million increase in the average  balance
of loans and leases partially offset by a reduction of $49.2
million  in  the average balance of securities.   There  was
also  a  $0.9  million  increase of  federal  funds  sold  &
securities purchased under agreements to resell.  The  yield
on  interest earning assets increased to 8.25% for  the  six
months ended June 30, 1997, from 7.81% for the corresponding
period  of  a  year  ago,  representing  a  44  basis  point
increase.   The yield improvement is due to the increase  in
the  average  balance of accruing loans as a  percentage  of
average  interest earning assets (45% in 1997  from  36%  in
1996), a decline in the balance of average non-accrual loans
to  $11  million in 1997 from $38 million in  1996,  and  an
increase  in the yield on securities to 6.55% in  1997  from
6.23% in 1996.

      Total  interest expense for the six months ended  June
30,  1997, was $22,999,000 compared to $21,858,000  for  the
corresponding  period  of  a  year  ago.   The  increase  of
$1,141,000,  or 5.2%, was due to an increase in the  average
balance of interest bearing deposits and an increase in  the
cost  of funds.  For the six months ended June 30, 1997  and
1996,  the balance of average interest bearing deposits  was
$1,074.1  million  and  $1,009.1 million,  respectively,  an
increase of $65.0 million, or 6.4%.  There was also a slight
increase  in the cost of funds to 4.26% for the  six  months
ended  June 30, 1997 from 4.19% for the corresponding period
of the prior year.  While rates paid for the certificates of
deposits  declined  in 1997 compared to  1996,  this  higher
costing deposit product comprised a larger percentage of the
balance  of  average  interest  bearing  deposits  in   1997
compared to 1996, which, accordingly, increased the cost  of
funds.

      The  net  interest spread is defined as the  yield  on
interest  earning  assets less the rates  paid  on  interest
bearing  liabilities.  For the six months  ending  June  30,
1997  and 1996, the net interest spread was 3.99% and 3.62%,
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  six
months ended June 30, 1997 and 1996, the net interest margin
was  4.67%  and  4.24%, respectively.  The increase  in  the
margin  is  primarily the result of the  improved  yield  on
interest earning assets.


Provision for Credit Losses

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

      For  the six months ended June 30, 1997, the provision
for credit losses was $1,000,000, compared to $2,500,000 for
the same period of 1996, a decrease of $1,500,000, or 60.0%.

       The  decline  in  the  provision  for  credit  losses
primarily  reflects the reduction in non-accrual loans.   As
of  June  30,  1997, non-accrual loans totaled $9.6  million
compared  to $11.7 million and $19.0 million as of  December
31,  1996  and June 30, 1996, respectively.  The combination
of  loans  returned to accrual status, repayments, transfers
to   OREO   and  charge-offs,  significantly  impacted   the
reduction  of non-accrual loans.  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.

      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 June 30, 1997
totaled  $1,601,000,  representing  a  $198,000,  or  14.1%,
increase  compared to $1,403,000 for the quarter ended  June
30,  1996.   The  increase was primarily  the  result  of  a
$167,000 increase in service charges and commissions due  in
large  measure to increased commissions earned by the Bank's
International  Department and increased service  charges  on
deposit accounts.

      For  the  six months ended June 30, 1997, non-interest
income totaled $3,125,000 representing a $109,000, or  3.4%,
decrease  compared to $3,234,000 for the  six  months  ended
June  30, 1996.  The net decrease was primarily due  to  the
receipt  of  a $400,000 fee in exchange for which  the  Bank
released  a  guarantor of a real estate loan, in  the  first
quarter of 1996.


Non-Interest Expense

      For the three months ended June 30, 1997, non-interest
expense  was  $6,822,000, representing a $79,000,  or  1.2%,
increase over $6,743,000 for the corresponding period  of  a
year ago.

      For  the  six months ended June 30, 1997, non-interest
expense  was $13,612,000, representing a $281,000, or  2.1%,
increase  over  $13,331,000 reported for  the  corresponding
period  of  a  year  ago.  The net increase  was  due  to  a
$975,000,  or  14.3%,  increase  in  salaries  and  employee
benefits,  partially offset by decreases in net  other  real
estate  owned  expense  and other expense  of  $427,000  and
$395,000,  respectively.   The  increase  in  salaries   and
employee  benefits was caused primarily by higher  level  of
pre-tax  income.   The reduced net other real  estate  owned
expense is primarily the result of no required provision for
OREO  valuation in 1997 compared to $554,000 in  1996.   The
decline of other expense was primarily the result of reduced
legal fees.

      For  the six months ended June 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  41.2%, comparing favorably to  45.7%  for  the
corresponding period of 1996.


Provision for Income Taxes

      For  the  quarter ended June 30, 1997  and  1996,  the
provision  for  income taxes was $3,529,000 and  $2,301,000,
respectively, representing effective tax rates of 35.3%  and
33.0%.

      For  the six months ended June 30, 1997, the provision
for  income taxes was $6,203,000, representing 33.7% of pre-
tax income.  The provision for the six months ended June 30,
1996, was $4,353,000, representing 32.7% of pre-tax income.


FINANCIAL CONDITION

     Total assets as of June 30, 1997 were $1,424.4 million,
an  increase of $72.3 million from total assets of  $1,352.1
million  as  of December 31, 1996.  The increase was  mainly
due  to a growth of deposits that was invested primarily  in
investment securities.  As of June 30, 1997 and December 31,
1996,  total  deposits  were $1,258.5 million  and  $1,201.5
million, respectively.


Loans

      As  of  June 30, 1997, loans and leases totaled $610.1
million, representing a $7.7 million, or 1.3%, increase from
the  balance  of  $602.4 million as of  December  31,  1996.
Growth  in the commercial loan portfolio representing  $42.5
million  was  primarily  in the trade-financing  area  which
increased  $34.9  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  $11.4  million of real estate - construction.  Partially
offsetting  the  above were decreases of $19.7  million  and
$30.0  million  in the real estate - conventional  and  term
federal funds sold loan categories, respectively.


      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>
----------------------------------------------------------------------
                                 June 30, 1997      December 31, 1996
(DOLLARS IN THOUSANDS)        Amount   Percentage  Amount   Percentage
----------------------------------------------------------------------

<S>                        <C>           <C>     <C>        <C>
Commercial                   $225,789      37.00%  $183,268   30.43%
Real Estate - Construction     77,975      12.78%    66,572   11.05%
Real Estate - Conventional    253,382      41.53%   273,081   45.34%
Installment                        70       0.01%        86    0.01%
Other Loans                    25,414       4.17%    22,361    3.71%
Leveraged Leases                7,511       1.23%     6,986    1.16%
Term Fed Funds Sold            20,000       3.28%    50,000    8.30%
----------------------------------------------------------------------                                                            
Total                        $610,141     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>
-------------------------------------------------------------------
(IN THOUSANDS)                   June 30, 1997    December 31, 1996
-------------------------------------------------------------------                                         
<S>                               <C>              <C>
Loans 90 Days or More Past Due 
  and Still Accruing                   $400             $6,779
Non-accrual Loans                     9,586             11,719
                                   --------           --------    
Total Past Due Loans                  9,986             18,498
Restructured Loans                   20,837             23,125
                                   --------           --------
Total Non-performing Loans           30,823             41,623
Other Real Estate Owned, Net         15,051             12,988
                                   --------           -------- 
Total Non-Performing Assets         $45,874            $54,611
                                   --------           -------- 
</TABLE>

     Total non-performing assets decreased to $45.9 million,
as  of June 30, 1997, from $54.6 million, as of December 31,
1996,  representing  an $8.7 million, or  15.9%,  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.

      Non-accrual loans declined to $9.6 million as of  June
30,  1997,  from $11.7 million, as of December 31,  1996,  a
reduction of $2.1 million, or 17.9%.

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

<TABLE>
----------------------------------------------------
(IN THOUSANDS)
----------------------------------------------------
<S>                                   <C>
Balance, December 31, 1996                  $11,719
                                           ---------
Add: Loans placed on non-accrual              8,534
Less: Charge-offs                            (2,055)
         Returned to accrual status          (2,177)
         Repayments                          (2,777)
         Transfer to OREO                    (3,658)
                                           ---------
Balance, June 30, 1997                       $9,586
                                           ---------
</TABLE>

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

<TABLE>
--------------------------------------------------------------
(IN THOUSANDS)             June 30, 1997     December 31, 1996
--------------------------------------------------------------                                        
<S>                          <C>                 <C>
Commercial                      $4,047              $3,219
Real Estate- Construction          455                 477
Real Estate- Conventional        5,057               8,023
Other Loans                         27                   -
                              ---------           ---------
Total                           $9,586             $11,719
                              ---------           ---------
</TABLE>

      The  balance of restructured loans as of June 30, 1997
was  $20.8 million compared to $23.1 million as of  December
31,  1996,  representing a $2.3 million, or 10.0%, 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 June 30, 1997, restructured loans
consisted of fifteen real estate credits.  This compares  to
sixteen  real estate credits as of December 31,  1996.   The
weighted average yield of the restructured loans as of  June
30, 1997, was 10.21%.  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>
-------------------------------------------------------------  
(IN THOUSANDS)              June 30, 1997   December 31, 1996
-------------------------------------------------------------                                         
<S>                         <C>               <C>
On Accrual Status              $20,837           $23,125
On Non-accrual Status              223             2,820
                              --------          --------                
Total                          $21,060           $25,945
                              --------          --------
</TABLE>

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

      As of June 30, 1997, other real estate owned ("OREO"),
net  of  valuation allowance of $1.5 million, totaled  $15.1
million, representing an increase of $2.1 million, or 16.2%,
from  the  net  balance of $13.0 million, net  of  valuation
allowance of $1.8 million, as of December 31, 1996.   As  of
June  30, 1997 and December 31, 1996, OREO consisted  of  26
properties.


     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.  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>
----------------------------------------------------------------
(IN THOUSANDS)               June 30, 1997     December 31, 1996
----------------------------------------------------------------                                          
PROPERTY TYPE                                             
<S>                              <C>              <C>
Single-Family Residential            $701             $901
Condominium                         4,051            6,284
Multi-Family Residential              220                -
Land for Residential                3,614            1,413
Land for Commercial                   735              735
Retail Facilities                   7,196            5,228
Office                                 34              250
Less: Valuation Allowance          (1,500)          (1,823)
                                 ----------      -----------
Total                             $15,051          $12,988
                                 ----------      -----------
</TABLE>

      In  accordance with SFAS 114, "Accounting by Creditors
for Impairment of a Loan," as amended by SFAS 118, a loan is
identified as impaired when it is probable that interest and
principal will not be collected according to the contractual
terms of the loan agreement.  Loan impairment is measured by
estimating  the  expected future cash flows and  discounting
them  at  the  respective effective  interest  rate,  or  by
valuing the underlying collateral.

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

<TABLE>
-------------------------------------------------------------------------                              
(IN THOUSANDS)                             June 30, 1997    Dec. 31, 1996
-------------------------------------------------------------------------  
<S>                                           <C>           <C>
Recorded Investment with Related Allowance     $19,436       $21,210
Recorded Investment with no Related Allowance    3,147         2,303
                                               -------       -------
Total Recorded Investment                       22,583        23,513
                                               -------       -------
Allowance for Impaired Loans                     1,705         2,011
                                               -------       -------

</TABLE>

      The  average  balance  of impaired  loans  before  the
allowance  was $24.4 million for the six months  ended  June
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 six  months
ended June 30, 1997 and 1996, interest income recognized  on
impaired  loans  was $832,000 and $1,472,000,  respectively.
Of  the amount of interest income recognized during the  six
months  ended  June  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 June 30, 1997, the balance of the allowance for
credit  losses  was  $14.9 million,  representing  2.44%  of
outstanding loans and leases.  This compares to an allowance
for  credit losses of $16.2 million as of December 31, 1996,
representing 2.69% of outstanding loans and leases.

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

<TABLE>
-------------------------------------------------------------
(IN THOUSANDS)                 June 30, 1997    June 30, 1996
-------------------------------------------------------------                                          
<S>                             <C>              <C>
Balance, Beginning of Period      $16,209          $16,674
                                 ---------        ---------
Provision for Credit Losses         1,000            2,500
                                 ---------        ---------  
Charge-offs                        (3,622)          (4,008)
Recoveries                          1,349            1,510
                                 ---------        ---------  
Net Charge-offs                    (2,273)          (2,498)
                                 ---------        ---------     
Balance, End of Period            $14,936          $16,676
                                 ---------        ---------
</TABLE>

     As of June 30, 1997, the allowance represents 48.5% and
156%  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 June 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  June  30,  1997,  the Company  recorded  gross
unrealized   gains  of  $72,000  on  its  available-for-sale
portfolio  and  the  inclusion as a  separate  deduction  of
stockholders' equity of $42,000, representing the unrealized
holding gain, net of tax.

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

<TABLE>
------------------------------------------------------------------------------------
                                                     Gross       Gross        
(In Thousands)                         Amortized   Unrealizd    Unrealiz     Fair
June 30, 1997                             Cost       Gains       Losses     Value
------------------------------------------------------------------------------------                       
Securities Held to Maturity
<S>                                  <C>         <C>         <C>       <C>
  State and Municipal Securities         $1,475         $8          $-     $1,483
  U.S. Government Agencies               42,945         71           -     43,016
  Collateralized Mortgage Obligations        51          -           -         51
  Asset Backed Securities                 9,990         56           -     10,046
                                       --------      -----       ------   -------
Total Securities Held to Maturity       $54,461       $135          $-    $54,596
                                       --------      -----       ------   -------                          
Securities available for sale
  U. S. Treasuries                        6,905          -          (4)      6,901
  U.S. Government Agencies              172,789          -        (145)    172,644
  Mortgage Backed Securities             55,143          -        (255)     54,888
  Corporate Notes                        16,006        341           -      16,347
  Collateralized Mortgage Obligations   177,416          -        (255)    177,161
  Asset Backed Securities                89,960        390           -      90,350
  Auctioned Preferred Stock              33,900          -           -      33,900
  Other Securities                       10,515          -           -      10,515
                                       --------      -----       ------   --------
Total Securities Available for Sale    $562,634       $731       $(659)   $562,706
                                       --------      -----       ------   --------                                  
</TABLE>
<TABLE>
------------------------------------------------------------------------------------
                                                     Gross       Gross        
(In Thousands)                         Amortized   Unrealizd    Unrealiz     Fair
December 31, 1996                         Cost       Gains       Losses     Value
------------------------------------------------------------------------------------                       
Securities Held to Maturity
<S>                                 <C>          <C>        <C>         <C>
  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
  Auctioned 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
during  the six months ended June 30, 1997 and 1996.   There
were  no  sales of securities held to maturity for  the  six
months ended June 30, 1997 and 1996.


Deposits

      The Company's deposits totaled $1,258.5 million as  of
June  30,  1997,  representing a  $57.0  million,  or  4.7%,
increase  from  total  deposits of $1,201.5  million  as  of
December  31,  1996.  The net growth was  primarily  due  to
increases  in time deposits, which increased $60.0  million,
or  8.5%.   Interest-bearing  demand  also  increased  $18.7
million,  with  decreases in demand  and  savings  of  $10.6
million   and   $11.1   million,   respectively,   partially
offsetting the total deposit increase.

      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  at  their
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 June 30, 1997, is as follows:

<TABLE>
------------------------------------------------------
(IN THOUSANDS)                             
------------------------------------------------------
<S>                                  <C>
3 Months or Less                           $289,635
Over 3 Months Through One Year              296,631
Over One Year through 5 Years                 2,021
                                          ----------
Total                                      $588,287
                                          ----------
</TABLE>
                                          
Other Borrowings

     On August 31, 1990, the Company issued $15.0 million of
subordinated  debentures through private placement  with  an
annual  interest  rate  of 10.52%  and  stated  maturity  of
September  1,  2000.  The table below is a  summary  of  the
required  repayment schedule, as specified in the  Debenture
Purchase Agreement ("the Agreement").

<TABLE>
------------------------------------------------------
                    (IN THOUSANDS)
------------------------------------------------------
<S>                                 <C>
      September 1, 1997                    $3,750
      September 1, 1998                    $3,750
      September 1, 1999                    $3,750
      September 1, 2000                    $3,750
                                        ----------
      Total                               $15,000
                                        ----------
</TABLE>

     The Agreement includes several covenants which restrict
the  payment  of dividends, amount of indebtedness,  certain
acquisitions  and  the sale of assets.  In  the  opinion  of
management,   the  Company  was  in  compliance   with   the
provisions of the Agreement as of June 30, 1997.


Regulatory Matters

     During the first quarter of 1997, the annual safety and
soundness  examination was conducted by the Federal  Deposit
Insurance   Corporation  ("FDIC")  and  the  State   Banking
department.   Reports have been received by  the  Bank  from
both agencies with no material adverse findings noted.


Capital Resources

      As  of  June  30, 1997, stockholders'  equity  totaled
$127.3 million, an increase of $10.6 million, or 9.1%,  from
$116.6  million as of December 31, 1996.  The  increase  was
due  primarily  to  net income of $12.2 million,  less  cash
dividends declared to stockholders of $1.6 million, less the
net  change  in the securities valuation allowance,  net  of
tax,  of  $0.6  million, for the six months ended  June  30,
1997.   Additionally, approximately $0.6 million of the  net
increase  resulted  from the exercise of stock  options  and
related tax benefits.

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

<TABLE>
--------------------------------------------------------------------------
                                 Well-Capitalized  June 30,   December 31,
                                     Standards       1997       1996
--------------------------------------------------------------------------
GBC Bancorp                                           
<S>                                    <C>          <C>        <C>
Tier 1 Leverage Ratio                    5%           9.14%      8.74%
Tier 1 Risk-Based Capital Ratio          6%          12.89%     11.97%
Total Risk-Based Capital Ratio          10%          14.60%     13.69%

General Bank                                               
Tier 1 Leverage Ratio                    5%           8.62%      8.61%
Tier 1 Risk-Based Capital Ratio          6%          12.17%     11.81%
Total Risk-Based Capital Ratio          10%          13.42%     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  $732.5
million,  or  51.4% of total assets, as of  June  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 June 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 June 30, 1997, total loans and leases represented
48.5%  of  total  deposits.  This compares to  50.1%  as  of
December 31, 1996.

      As  of  June 30, 1997, management is not aware of  any
information  that  would result in or  that  was  reasonably
likely  to have a material effect on the Company's liquidity
and capital resources.

      The  liquidity of the parent company, GBC Bancorp,  is
primarily dependent on the payment of cash dividends by  its
subsidiary, General Bank, subject to the limitations imposed
by  the Financial Code of the State of California.  For  the
six  months  ended June 30, 1997, General Bank paid/declared
$6.6 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 June 30, 1997,  three  contracts
totaling $2 million were 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 June 30, 1997 and December 31, 1996, there were
outstanding  fixed  rate mortgages held  for  sale  of  $0.8
million and $1.9 million, and a notional value of derivative
instruments  of $2.0 million and $0.5 million, respectively.
For the six months ended June 30, 1997 and 1996, the Company
had realized net losses of $4,000 and $11,000, respectively,
related  to  its  hedging activities.  There  was  a  $5,000
unrealized loss related to hedging activities as of June 30,
1997.   There was no unrealized gain/loss related to hedging
activities as of June 30, 1996.

      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 June 30, 1997, the Company was well  within
the policy limits.

      As  of June 30, 1997, there was a cumulative one  year
negative "gap" of $446.7 million, up from $311.4 million  as
of  December 31, 1996.  The $135.3 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 June 30, 1997, and may  not
be reflective of positions in subsequent periods:

<TABLE>
                                           JUNE 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>
Securities Available for Sale    $57,242     $21,337      $173,628    $310,499         $-      $562,706
Securities Held to Maturity        6,488         975        33,121      13,877          -        54,461
Federal Funds Sold &                                                                    
 Securities Purchased Under
 Agreements to Resell            115,000           -             -           -          -             -
 Loans and Leases (1) (2)        409,543      33,859        69,766      67,387          -       580,555
Loans to Depository Institution   20,000           -             -           -          -        20,000
Non-Earning Assets (2)                 -           -             -           -     91,650        91,650
                                --------     -------      --------    --------    -------    ----------                            
Total Assets                    $608,273     $56,171      $276,515    $391,763    $91,650    $1,424,372
                                --------     -------      --------    --------    -------    ----------                    
                                                                                        
Source of Funds for Assets:                                                             
                                                                                        
Deposits:                                                                               
  Demand                              $-          $-            $-          $-   $148,082      $148,082
  Interest Bearing Demand        232,415           -             -           -          -       232,415
  Savings                        108,195           -             -           -          -       108,195
  TCD'S Under $100,000            85,757      94,793           992           -          -       181,542
  TCD'S $100,000 and Over        292,836     293,430         2,021           -          -       588,287
                                --------     -------      --------    --------   --------    ----------                          
Total Deposits                  $719,203    $388,223        $3,013          $-   $148,082    $1,258,521
                                --------     -------      --------    --------    -------    ----------   
                                                                                        
Subordinated Debt                 $3,750          $-       $11,250          $-         $-       $15,000
Other Liabilities                      -           -             -           -     23,588        23,588
Stockholders' Equity                   -           -             -           -    127,263       127,263
                                --------     -------      --------    --------    -------    ----------                     
Total Liabilities and                                                                   
  Stockholders' Equity          $722,953    $388,223       $14,263          $-   $298,933    $1,424,372
                                --------     -------      --------    --------    -------    ----------                            2
                                                                                        
Interest Sensitivity Gap       ($114,680)  ($332,052)     $262,252    $391,763  ($207,283)           
Cumulative Interest                                                                     
  Sensitivity Gap              ($114,680)  ($446,732)    ($184,480)   $207,283        -           

Gap Ratio (% of Total Assets)     -8.1%      -23.3%         18.4%        27.5%     -14.6%           
                                                                                        
Cumulative Gap Ratio              -8.1%      -31.4%        -13.0%        14.6%       0.0%           
                                                                                         
</TABLE>

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



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  materiel  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 effected  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 materiel  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  June  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 June 30, 1997.


Item 3.  DEFAULT UPON SENIOR SECURITIES

     This item is not applicable.

Item  4.   SUBMISSION  OF MATTERS TO A  VOTE  OF  SECURITIES
HOLDERS

     At the Annual Meeting of Shareholders held on April 24,
1997,  a proposal to elect seventeen directors to the  Board
of Directors of the Registrant to hold office until the next
meeting and until their successors are elected and qualified
was  approved  by shareholders.  This proposal received  the
following votes:

<TABLE>
                                    For             Withheld
                            -----------            ---------
<S>                        <C>                     <C>
Eric W. Chang                 5,513,704               17,182
Helen Y. Chen                 5,513,704               17,182
Thomas C. T. Chiu             5,513,704               17,182
Stephen Huang                 5,513,704               17,182
Chuang-I Lin                  5,513,704               17,182
Ko-Yen Lin                    5,513,704               17,182
Ting Yung Liu                 5,513,704               17,182
Alan Thian                    5,513,704               17,182
John Wang                     5,513,704               17,182
Kenneth Wang                  5,513,704               17,182
Chien-Te Wu                   5,513,704               17,182
Julian Wu                     5,513,704               17,182
Li-Pei Wu                     5,513,704               17,182
Peter Wu                      5,513,704               17,182
Ping C. Wu                    5,513,704               17,182
Walter Wu                     5,513,704               17,182
Chin-Liang Yen                5,513,704               17,182

</TABLE>

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