U.S. Securities and Exchange Commission
Washington D.C. 20549
Form 10-QSB


 X QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES
   EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED
   March 31, 1997.


Commission file number:    0-23790
                           -------
MetroBanCorp
----------------------------------------------------------------- 
(Exact name of small business issuer as specified in its charter)
                                 
Indiana
-----------------------------------------------------------------
(State or other jurisdiction of incorporation or  organization)

35-1712167
-----------------------------------------------------------------
(I.R.S. Employer Identification No.)
                                 
10333 N. Meridian Street, Suite 111, Indianapolis, Indiana
-----------------------------------------------------------------
(Address of principal executive offices)

46290                              (317) 573-2400
--------------------------         ------------------------------ 
(Zip Code)                         (Issuer's telephone number)


Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15 (d) of the Exchange Act during the past 12 months (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___


State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date: 1,681,291
                                                  ---------

Transitional Small Business Disclosure Format:  Yes___  No  X



<PAGE>

MetroBanCorp
FORM 10-QSB
INDEX


PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

     Consolidated Statement of Condition
     March 31, 1997 and December 31, 1996                   3

     Consolidated Statement of Operations
     Three Months Ended March 31, 1997 and 1996             4

     Consolidated Statement of Cash Flows
     Three Months Ended March 31, 1997 and 1996             5

     Notes to Consolidated Financial Statements             6

Item 2. Managements's Discussion and Analysis of 
        Financial Condition and Results of Operations       7


PART II. OTHER INFORMATION

Item 5. Other Information                                  12

Item 6. Exhibits and Reports on Form 8-K                   12


SIGNATURES                                                 13


EXHIBITS                                                   14

page 2
<PAGE>
<TABLE>

MetroBanCorp
Part I - Financial Information
Item 1. Financial Statements
Consolidated Statement of Condition
(unaudited)
(dollars in thousands)

<CAPTION>
                                                    03/31/97       12/31/96
                                                    --------       --------
<S>                                                  <C>            <C>                                  
Assets
  Cash and Due from Banks                           $  4,732       $  7,475
  Federal Funds Sold                                       -          6,300
                                                    --------       --------
    Total Cash and Cash Equivalents                    4,732         13,775

  Investment Securities HTM - at Cost                 10,060         10,056
  Investment Securities AFS - at Market               20,370         21,160
                                                    --------       --------
    Total Investment Securities                       30,430         31,216

  Loans:
    Gross Loans                                       69,956         65,385
    Less: Allowance for Loan Losses                     (891)          (866)
                                                    --------       --------
      Loans, Net                                      69,065         64,519

  Premises and Equipment, Net                          1,646          1,821
  Accrued Interest Receivable                            911            871
  Core Deposit Intangible, Net                           287            322
  Deferred Tax Asset                                     376            360
  Other Assets                                           427            499
                                                    --------       --------
    Total Assets                                    $107,874       $113,383
                                                    ========       ========

Liabiities
  Deposits:
    Non-Interest Bearing Demand                     $ 15,057       $ 23,141
    Interest Bearing:
      Savings and Now Accounts                        36,875         35,507
      Time Deposit of $100,000 and above              11,152         10,800
      Other Time Deposits                             29,797         29,836
                                                    --------       --------
  Total Deposits                                      92,881         99,284

  Federal Funds Purchased                                600              -
  Securities Sold under Agreements to Repurchase       1,500          1,500
  Accrued Interest Payable                               462            419
  Other Liabilities                                      881            679
                                                    --------       --------
  Total Liabilities                                   96,324        101,882
                                                    --------       --------
Commitments and Contingencies                              -              -

Shareholders' Equity
  Preferred Stock:
      1,000,000 Shares Authorized; None Outstanding        -              -
  Common Stock: 
      3,000,000 Shares Authorized; 1,681,291 Shares 
      Issued and Outstanding                          11,210         11,210
  Accumulated Earnings                                   479            407
  Net Unrealized Loss on Investment Securities AFS      (139)          (116)
                                                    --------       --------
  Total Shareholder's Equity                          11,550         11,501
                                                    --------       --------
Total Liabilities and Shareholders' Equity          $107,874       $113,383
                                                    ========       ========

See "Notes to Consolidated Financial Statements"

</TABLE>
page 3
<PAGE>
<TABLE>

MetroBanCorp
Part I - Financial Information
Item 1. Financial Statements
Consolidated Statement of Operations
(unaudited)
(dollars in thousands, execpt share data)

<CAPTION>
                                                      Three Months Ended
                                                    -----------------------
                                                    03/31/97       03/31/96
                                                    --------       --------
<S>                                                  <C>            <C>
Interest Income
  Interest and Fees on Loans                        $  1,595       $  1,444
  Interest on Investment Securities                      414            373
  Interest on Federal Funds Sold                           4             68
                                                    --------       --------
    Total Interest Income                              2,013          1,885

Interest Expense
  Interest on Deposits                                   869            859
  Other Interest Expense                                   9              4
                                                    --------       --------
    Total Interest Expense                               878            863
                                                    --------       --------
    Net Interest Income                                1,135          1,022
                                                    --------       --------
  Provision for Loan Losses                               29             16
                                                    --------       --------
    Net Interest Income after 
    Provision for Loan Losses                          1,106          1,006
                                                    --------       --------
Non-Interest Income
  Service Charges on Deposit Accounts                     75             73
  Loss on Sale of Investment Securities                    -            (12)
  Other Service Charges, Commissions and Fees            169             87
                                                    --------       --------
    Total Non-Interest Income                            244            148

Non-Interest Expense
  Salaries and Employee Benefits                         458            403
  Occupancy Expense                                       74             54
  Equipment Expense                                       82             73
  Advertising and Public Relations                        46             40
  Legal, Professional and Audit Services                  42             21
  Data Processing                                         70             59
  Student Loan Servicing Fees                             22             29
  FDIC Insurance Assessment                               20             37
  Amortization of Core Deposit Intangible                 35             35
  Other                                                  241            172
                                                    --------       --------
    Total Non-Interest Expense                         1,090            923
    
    Income before Income Taxes                           260            231
    
    Applicable Income Taxes                              105            102
                                                    --------       --------
Net Income                                          $    155       $    129
                                                    ========       ========

Net Income per Weighted Average Share               $   0.09       $   0.08
Weighted Average Shares Outstanding                1,681,291      1,681,291

See "Notes to Consolidated Financial Statements"

</TABLE>
page 4
<PAGE>
<TABLE>

MetroBanCorp
Part I - Financial Information
Item 1. Financial Statements
Consolidated Statement of Cash Flows
(unaudited)
(dollars in thousands)

<CAPTION>
                                                        Three Months Ended 
                                                       --------------------
                                                       03/31/97    03/31/96
                                                       --------    --------
<S>                                                     <C>         <C>   
Cash Flows from Operating Activities:

Net Income                                             $    155    $    129

Adjustments to Reconcile Net Income to Cash
Provided by Operating Activities:
  Provision for Loan Losses                                  29          16
  Deferred Income Tax Provision                               -           9
  Depreciation and Amortization                             102          94
  Gain on Sale of Real Estate                               (56)          -
  Net Loss on Sale of Investment Securities                   -         (12)
  (Increase)/Decrease in Accrued Interest Receivable        (40)         61
  Decrease in Other Assets                                   72         123
  Increase/(Decrease) in Accrued Interest Payable            43          (8)
  Increase in Other Liabilities                             208          64
                                                       --------    --------
  Total Adjustments                                         358         347
                                                       --------    --------
Net Cash Flows Provided by Operating Activities             513         476
                                                       --------    --------

Cash flows from Investing Activities:
  Proceeds from Maturities of Investment Securities HTM       -         318
  Proceeds from Sales of Investment Securities AFS        1,738       2,000
  Purchases of Investment Securities AFS                   (999)     (3,136)
  Proceeds from the Repayment of Student Loans              373         568
  Proceeds from the Sale of Student Loans                   170           2
  Net Loans made to Customers                            (5,118)     (2,151)
  Purchases of Premises and Equipment                      (294)       (194) 
  Proceeds from the Sale of Real Estate                     461           -
                                                       --------    --------
Net Cash Flows Used in Investing Activities              (3,669)     (2,593)
                                                       --------    --------

Cash Flows from Financing Activities:
  Net Decrease in DDA, NOW and Savings Accounts          (6,716)     (4,976)
  Net Increase in Time Deposits                             313         982
  Net Increase in Federal Funds Purchased                   600           -
  Net Securities Sold Under an Agreement to Repurchase        -        (900)
  Payment of Dividends                                      (84)          -
                                                       --------    --------
Net Cash Flows Used in Financing Acitivities             (5,887)     (4,894)
                                                       --------    --------
Net Decrease in Cash and Cash Equivalents                (9,043)     (7,011)

Cash and Cash Equivalents at Beginning of Period         13,775      18,082
                                                       --------    --------
Cash and Cash Equivalents at End of Period             $  4,732    $ 11,071
                                                       ========    ========
See "Notes to Consolidated Financial Statements"

</TABLE>

page 5
<PAGE>
                             MetroBanCorp
              Notes to Consolidated Financial Statements

 1.  Basis of Presentation
     ---------------------
     The  consolidated financial statements include  the  accounts  of
     MetroBanCorp and its wholly-owned affiliate, MetroBank (together,
     "Metro").  All significant intercompany transactions and balances
     have been eliminated.

     In the opinion of management of Metro, the consolidated financial
     statements  contain  all  the normal  and  recurring  adjustments
     necessary  to present fairly the consolidated financial condition
     of  Metro  as  of March 31, 1997 and December 31, 1996,  and  the
     results of its operations and its statement of cash flows for the
     three months ended March 31, 1997 and 1996.

     These  financial  statements should be read in  conjunction  with
     Metro's  latest Annual Report on Form 10-KSB for the year  ending
     December  31, 1996.

2.   Investments
     -----------
     The  market value and amortized cost of investment securities  of
     Metro as of  March  31, 1997 are set forth below:

<TABLE>                                   
<CAPTION>
                                   Market Value        Amortized Cost
                                   ------------        --------------
    <S>                            <C>                   <C> 
     Held to Maturity              $  9,553,000        $   10,060,000
     Available for Sale              20,370,000            20,569,000
                                   ------------        --------------
     Total Investments             $ 29,923,000        $   30,629,000
                                   ============        ==============
</TABLE>

3.   Allowance for Loan and Lease Losses
     ----------------------------------- 
     Metro adopted the provisions of Statement of Financial Accounting
     Standard  No. 114, "Accounting by Creditors for Impairment  of  a
     Loan,"  as amended by Statement of Financial Accounting  Standard
     No.  118,  on January 1, 1995.  As of  March 31, 1997, Metro  had
     investments in loans which are impaired in accordance  with  SFAS
     Nos.  114  and  118  of $13,190. Of this amount,  $5,756  had  no
     related specific allowance.  The remaining impaired loans  had  a
     specific allowance of $7,434.

     Metro's  policy for recognizing income on impaired  loans  is  to
     accrue  earnings  until  a loan is classified  non-accrual.   For
     loans which receive the classification of non-accrual during  the
     current  period,  interest accrued to  date  is  charged  against
     current  earnings.   All payments received on  a  loan  which  is
     classified  as  non-accrual are utilized to reduce the  principal
     outstanding.

     For the three months ended March 31, 1997, the average balance of
     impaired loans was $66,574.  Additionally, there was no interest
     income earned on these loans during the first three months of
     1997.

page 6
<PAGE>


4.   Mortgage Servicing Rights
     -------------------------
     The Financial Accounting Standards Board has issued SFAS No. 122,
     "Accounting  for Mortgage Servicing Rights," which  modifies  the
     accounting for mortgage servicing rights to allow the recognition
     of   servicing  assets whether they are purchased or  originated.
     Metro  adopted the provisions of this statement effective January
     1,  1996,  and  it  did  not have a material  effect  on  Metro's
     consolidated financial condition or results of operations.
  
                                   
           ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
           ------------------------------------------------
             FINANCIAL CONDITION AND RESULTS OF OPERATIONS
             --------------------------------------------- 
                                   
The   following   management  discussion  is  presented   to   provide
information concerning the consolidated financial condition  of  Metro
as of March 31, 1997 as compared to December 31, 1996, and the results
of  operations for the three month periods ending March 31,  1997  and
1996.


FINANCIAL CONDITION

At  March  31,  1997,  Metro had total assets  of  $107.9  million,  a
decrease of  $5.5 million or 4.9 percent from December 31, 1996.  This
reduction  is  due  to  a decrease in interest  bearing  deposits  and
securities sold under agreements to repurchase.

Consolidated  earning assets totaled to $100.4 million or 93.0 percent
of  total  assets  at  March 31, 1997.  The  principal  components  of
earning  assets  were  loans in the  amount  of $69.9 million or  69.7
percent  of total earning assets, and investment securities  of  $30.4
million  or 30.3 percent of total earning assets.   Earning assets  at
December  31, 1996 were $102.9 million, and as a percentage  of  total
assets  amounted  to  90.7  percent.  This $2.5  million  decrease  in
earning assets in the first quarter of 1997 is due principally  to   a
reduction  of  Federal Funds Sold partially offset by  an  increase  in
loans.

LOANS
-----
Total  loans  outstanding increased $4.6 million or 7.0 percent  since
December  31,  1996 due to an increase in short-term and intermediate-
term  commercial and installment loans. This growth  is  a  result  of
increased  indirect  lending in installment  and  new  growth  in  the
commercial  loan  portfolio.   The  overall  loan  demand   has   been
relatively strong in Metro's market area.

At  March 31, 1997, net loans amounted to 64.0 percent of total assets
as  compared  to  56.9 percent at year end 1996.  The Bank's  loan  to
deposit ratio, which is one measure of liquidity, was 74.4 percent  at
March 31, 1997, as compared to 65.0 percent at year end 1996.

page 7
<PAGE>


<TABLE>
Loan Portfolio at Period-End
(dollars in thousands)
                                                              
<CAPTION>
                             03/31/97      12/31/96     % Change
                             --------      --------     --------                                                              
<S>                          <C>           <C>           <C>
Commercial                   $ 39,954      $ 35,064        13.95%
Real Estate - Construction      3,660         3,970        -7.81%
Mortgage                          719           787        -8.64%
Installment                    16,535        15,933         3.78%
Student Loans                   9,088         9,631        -5.64%
                             --------      --------     --------                                                               
  Total Loans                $ 69,956      $ 65,385         6.99%
                                                              
Less: Allowance for Loan                                                        
      Losses                     (891)         (866)        2.89%
                             --------      --------     --------                                                      
  Net Loans                  $ 69,065      $ 64,519         7.05%
                             ========      ========     ========

</TABLE>

Delinquent loans at March 31, 1997 were $1.2 million, representing 1.7
percent  of  total  loans.   At December 31,  1996,  delinquent  loans
amounted  to  $1.3 million or 2.0 percent of total loans  outstanding.
Delinquent  loans in both periods shown above consisted  primarily  of
student loans guaranteed by USA Funds, a subsidiary of USA Group, Inc.
Non-accruing loans at March 31, 1997 amounted to $13,190  as  compared
to  $157,443  at December 31, 1996. Net charged-off loans amounted  to
$3,893 for the three months ending March 31, 1997.


At March 31, 1997 and December 31, 1996, the Bank had an allowance for
loan  losses of  $891,000 and $866,000, respectively.  The  percentage
of provision for  loan losses to ending loans amounted to 1.27 percent
and   1.32  percent  for  March  31,  1997  and  December  31,   1996,
respectively.  The  Bank  provides for possible  loan  losses  through
regular  provisions to the allowance for loan losses.  The  provisions
are  made  at  a level which is considered necessary by management  to
absorb  estimated losses in the loan portfolio and is  based  upon  an
assessment of adequacy of the Bank's loan loss reserve account.


page 8
<PAGE>

<TABLE>
Allowance for Loan Losses
(dollars in thousands)

<CAPTION>
                                                Three Months Ended
                                              -----------------------
                                              03/31/97       03/31/96
                                              --------       --------
<S>                                           <C>            <C> 
Allowance for Loan Losses, January 1          $    866       $    910
                                                         
Loans Charged-Off:                                                   
     Commercial                                     (9)             -
     Real Estate                                     -              -
     Mortgage                                        -              -
     Installment                                     -             (2)
     Student Loans                                   -              -
                                              --------       --------
Total Charged-Off Loans                             (9)            (2)
                                              --------       --------
Recoveries on Charged-Off Loans:
     Commercial                                      5              1
     Real Estate                                     -              -
     Mortgage                                        -              -
     Installment                                     -              -
     Student Loans                                   -              -
                                              --------       --------
Total Recoveries                                     5              1
                                              --------       --------
Net Charged-Off Loans                               (4)            (1)
                                              --------       --------
Provision for Loan Losses                           29             16
                                              --------       --------
Allowance for Loan Losses, March 31           $    891       $    925
                                              ========       ========
Average Loans Outstanding                     $ 67,456       $ 61,027
                                              ========       ======== 
Net Charged-Off loans to Average Loans            .006%          .002%
                                              ========       ========     
</TABLE>

                                                    
INVESTMENT SECURITIES
---------------------
Total investments at March 31, 1997 were $30.4 million, decreasing  by
$786,000 or 2.5 percent from the amount at December 31, 1996.

page 9
<PAGE>


DEPOSITS
--------
Total  deposits  at  March  31,  1997 amounted  to  $92.9  million  in
comparison  to  $99.3  million at December 31,  1996,  representing  a
decrease of $6.4 million or 6.4 percent. Since December 31, 1996, non-
interest  bearing demand deposits decreased by $8.1  million  or  34.9
percent.  This change in demand deposits relates to timing differences
of  deposits  and withdrawals.   The Bank historically  experiences  a
build  up of deposits during the fourth quarter, followed by a decline
during  the next three quarters.   In the first three months of  1997,
interest bearing deposits increased by $1.7 million or 2.2 percent.



OTHER LIABILITIES
-----------------
Short-term  borrowings,  which includes federal  funds  purchased  and
securities sold under an agreement to repurchase,  increased  $600,000
since  December  31, 1996.  Other  liabilities  increased  to $881,000
from  $679,000  from December 31, 1996.   Total  liabilities decreased
by $5.6  million  or  5.5 percent  to $96.3 million since December 31, 
1996.






CAPITAL
-------
Metro's  total  capital increased by a net amount of  $49,000  or  .43
percent  during the first three months of 1997.  Metro's  earnings  in
the  first  three  months  of  1997 amounted  to  $155,000.   The  net
unrealized  loss on investment securities available for sale  amounted
to $139,000 at March 31, 1997,  increasing by  $23,000 or 19.8 percent
since  December 31, 1996.  During  March, 1997, capital  decreased  by 
approximately  $84,065 in  1997 following the  payment of a $.05  cash
dividend on 1,681,291 common shares outstanding.


Metro  is  subject  to  various capital requirements  imposed  by  the
federal  banking  agencies.   Quantitative  measures  established   by
regulation  to  ensure  capital adequacy  require  Metro  to  maintain
minimum amounts and ratios of total Tier 1 capital (as defined in  the
regulations)  to risk-weighted assets, and Tier 1 capital  to  average
assets.   Management believes, as of March 31, 1997, that Metro  meets
all  capital  adequacy  requirements to  which  it  is  subject.   The
following  table sets forth the actual and minimum capital amount  and
ratio's  of  Metro  and  the Bank as of March  31,  1997  (dollars  in
thousands):

page 10
<PAGE>
<TABLE>
<CAPTION>
                                                             To Be Well
                                                          Capitalized Under
                                                          Prompt Corrective 
                                       Actual             Action Provisions
                                 ------------------     ---------------------
                                  Amount     Ratio       Amount        Ratio
                                 --------   -------     --------      -------
<S>                             <C>        <C>           <C>          <C>
Total Capital
(to Risk Weighted Assets)
   Consolidated                   12,282     17.43%      > 7,047      > 10.00%
   Bank                            8,731     12.53%      > 6,967      > 10.00%

Tier 1 Capital
(to Risk Weighted Assets)
   Consolidated                   11,401     16.18%      > 4,228      >  6.00%
   Bank                            7,860     11.28%      > 4,180      >  6.00%

Tier 1 Capital 
(to Average Assets)
   Consolidated                   11,401     10.68%      > 5,338      >  5.00%
   Bank                            7,860      7.59%      > 5,178      >  5.00%
 
</TABLE>
   
As  of  December 31, 1996, the most recent notification from the  FDIC
categorized  the  Bank  as  "well capitalized"  under  the  regulatory
framework  for prompt corrective action.  To be categorized  as  "well
capitalized", the Bank must maintain minimum total risk-weighted, Tier
1 capital and leverage ratios as set forth in the table.  There are no
conditions or events since this notification that management  believes
have changed its or the Bank's capital category.


RESULTS OF OPERATIONS


NET INTEREST INCOME
-------------------
Net  interest income after provision for loan losses was $1.1  million
for  the  three months ending March 31, 1997, compared to $1.0 million
for  the  comparable period of 1996, an increase of 9.9 percent.   Net
interest  income  increased principally due  to  growth  in  the  loan
portfolio  for  the first quarter of 1997.  The Bank's  provision  for
loan loss expense was $29,000 for  three months ended  March 31, 1997,
compared to $16,000 for  the  same period in 1996. The provisions made
in 1997 were at a level considered necessary  by  management to absorb
estimated losses in the loan portfolio and is based upon an assessment
of the adequacy  of the Bank's loan loss reserve account.

page 11
<PAGE>


NON-INTEREST EXPENSE
--------------------
Non-interest expense amounted to $1.1 million for three  months ending
March  31, 1997,  compared  to $923,000  for the  same period in 1996,
amounting to a $167,000 or an  18.1 percent increase. This increase in
Metro's non-interest expense is due principally to growth in addition-
al staffing, placement of offsite automated teller  machines  and  the
opening of a new branch office facility.
 
 
NET INCOME
----------
Metro  recognized  net income of $155,000 for the three  month  period
ending  March 31, 1997, compared to $129,000 for the same  period  one
year earlier.



                   PART II-OTHER INFORMATION
                   ------------------------- 

Item 5.  Other Information
-------  -----------------
During  the  first quarter of 1997, the Bank opened  its  Noble  Creek
banking  office located at 2025 Cherry Street , Noblesville,  Indiana.
This  new  facility  commenced operations on  March  18,  1997.    The
development of the Bank's Noble Creek office is part of the continuing
commercial  expansion  of Noblesville's east side.    The  new  office
allows  the  bank to provide  greater  convenience  and  accessibility
for local businesses and area residents.



Item 6.  Exhibits and Reports on Form 8-K
-------  --------------------------------
(a)  Exhibits:

     Exhibit 10   Lease dated March 18, 1997 between Registrant and
                  Riverview Hospital with  respect  to  property at
                  2025  Cherry  Street, Noblesville, Indiana

     Exhibit 27   Financial Data Schedule


(b)  No reports on Form 8-K were filed during the quarter ended
     March 31, 1997.


page 12
<PAGE>

                           SIGNATURES
                           ----------

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


                                        METROBANCORP
                                        (Registrant)



May 12, 1997                            By: /S/  Ike G. Batalis
                                           -----------------------
                                             Ike G. Batalis
                                             Chairman and
                                             President (Principal
                                             Executive Officer)



May 12, 1997                             By: /S/  Charles V. Turean
                                            -----------------------
                                              Charles V. Turean
                                              Executive Vice President
                                              (Principal Financial and
                                              Accounting Officer)


page 13
<PAGE>