SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON D. C. 20549

                                    FORM 10-Q/A

                                  Amendment #1

                   QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934


    For Quarter Ended March 31, 1998          Commission File Number 0-14550



                       NEW ENGLAND COMMUNITY BANCORP, INC.
                       -----------------------------------

                       DELAWARE                 06-1116165



                                OLD WINDSOR MALL
                                  P.O. BOX 130
                           WINDSOR, CONNECTICUT 06095


                            Telephone: (860) 610-3600


Indicate by check mark whether  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  twelve  months,   and  (2)  has  been  subject  to  such  filing
requirements for the past 90 days.  YES  [X]  NO[ ]



The number of shares of common stock of the  registrant  outstanding as of April
30, 1998 was 5,171,626.




The total number of pages in this report is 5.

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                       NEW ENGLAND COMMUNITY BANCORP, INC.

                                TABLE OF CONTENTS

         Part I.        FINANCIAL INFORMATION                           Page No.

         Item 1.        Financial Statements:

                        Consolidated Statements of Cash Flows--
                        three months ended March 31, 1998
                        and 1997 (unaudited)                                  4

                        SIGNATURES                                            5




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<PAGE>

Form 10-Q, Quarterly Report
New England Community Bancorp, Inc.
Commission File No. 0-14550

     New England  Community  Bancorp,  Inc. ("NECB") hereby amends its Quarterly
Report on Form 10-Q,  for the quarter  ended March 31,  1998,  and dated May 15,
1998.

Part I--FINANCIAL INFORMATION

Item 1. Financial Statements

     In the original filing of the NECB's  quarterly  report on Form 10-Q, (made
on May 15,  1998) a line  in the  consolidated  statements  of  cash  flows  was
inadvertently  deleted.  The  line  item  represented  "sales  of  premises  and
equipment" and should have been included in the "investing  activities"  section
of the statement.  The error did not effect either the group totals or the grand
totals for the statement.

     Consequently,  NECB hereby amends Part I, Item 1 in the Quarterly Report on
Form 10-Q by  submitting  corrected  consolidated  statements  of cash  flows as
included herein.



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<PAGE>

 <TABLE>
<CAPTION>
                                   NEW ENGLAND COMMUNITY BANCORP, INC.
                                  CONSOLIDATED STATEMENTS OF CASH FLOWS
                                               (Unaudited)
(Thousands of dollars)
Three Months Ended March 31,                                                           1998         1997
--------------------------------------------------------------------------------------------------------
<S>                                                                                  <C>         <C>    
Operating activities:
     Net income                                                                      $ 1,889     $ 1,502
     Adjustment for noncash charges (credits):
       Provision for depreciation and amortization                                       275         308
       Losses from sale or disposal and provisions to reduce the carrying value
          of other real estate owned, net                                                209          47
       Securities losses (gains), net                                                 (1,229)          2
       Accretion of discounts and amortization of premiums on bonds, net                 (10)          3
       Accretion, net of amortization, of purchase accounting adjustments                 (3)        (53)
       Amortization of goodwill                                                           98          79
       Provision for possible loan losses                                                322         273
       Loss on sale of portfolio loans, net                                              440
       (Increase) decrease in accrued interest income and other assets, net            1,014         (72)
       Decrease (increase) in loans held-for-sale                                     (5,034)       (777)
       (Decrease) increase in accrued interest payable and other liabilities, net        163      (1,126)
                                                                                     -------     -------
              Net cash provided by (used for) operating activities                    (1,866)        186
                                                                                     -------     -------

Financing activities:
     Net decrease in noninterest-bearing accounts                                    (16,296)     (6,274)
     Net (decrease) increase in interest-bearing accounts                              3,265      (9,667)
     Net increase in short-term borrowings                                               430       3,797
     Net increase in long-term borrowings                                              7,968       6,000
     Proceeds from issuance of common stock                                              103           2
     Cash dividends paid                                                                (465)       (371)
                                                                                     -------     -------
              Net cash used for financing activities                                  (4,995)     (6,513)
                                                                                     -------     -------

Investing activities:
     Loans originated, net of principal collections                                   (4,924)      1,815
     Proceeds from sale of portfolio loans                                            10,156           3
     Purchases of securities available-for-sale                                       (3,287)    (10,886)
     Proceeds from sales of securities available-for-sale                              8,823       4,559
     Proceeds from maturities of securities available-for-sale                         9,829       5,449
     Purchases of securities held-to-maturity                                                        (25)
     Proceeds from maturities of securities held-to-maturity                           1,410         151
     Proceeds from sales of other real estate owned                                    1,072       1,162
     Purchases of premises and equipment, net                                           (160)       (348)
     Sales of premises and equipment                                                      43
     Capitalization of expenditures on other real estate owned                           (49)        (20)
                                                                                     -------     -------
              Net cash provided by (used for) investing activities                    22,913       1,860
                                                                                     -------     -------
     Increase (decrease) in cash and cash equivalents                                 16,052      (4,467)
     Cash and cash equivalents, beginning of period                                   39,851      39,854
                                                                                     -------     -------
     Cash and cash equivalents, end of period                                        $55,903     $35,387
                                                                                     =======     =======

</TABLE>

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                       NEW ENGLAND COMMUNITY BANCORP, INC.


                                   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.


                                  NEW ENGLAND COMMUNITY BANCORP, INC.


Date:  June 12, 1998              By: /s/ ANSON C. HALL
                                      --------------------------------
                                          Anson C. Hall
                                          Vice President and Treasurer

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