FORM 10-Q

                    Securities and Exchange Commission
                          Washington, D.C.  20549

          [ X ]     Quarterly Report Pursuant to Section 13 or
               15(d) of the Securities Exchange Act of 1934

            For the quarterly period ended:  September 30, 1995
 
                                    or

          [   ]     Transition Report Pursuant to Section 13 or
               15(d) of the Securities Exchange Act of 1934

       For the transition period from ____________  to ____________

                     Commission file no.:     0-12377
 

                         BT FINANCIAL CORPORATION
           -----------------------------------------------------
          (Exact Name of Registrant as Specified in its Charter)

          Pennsylvania                  25-1441348
     -----------------------------------------------------------------
     (State of Incorporation)  (I.R.S. Employer Identification Number)

             551 Main Street, Johnstown, Pennsylvania  15901 
          ----------------------------------------------------
             (Address of Principal Executive Offices)  (Zip Code)


                           (814) 532-3801
                    -----------------------------
                    Registrant's Telephone Number
  


     Indicate by checkmark 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 latest practicable date:

                       3,826,581 shares common stock
                             ($5.00 par value)
                          as of November 9, 1995





NOTE-AMENDMENT NO. 1





                                  ITEM 1
                           FINANCIAL STATEMENTS
                  BT FINANCIAL CORPORATION AND AFFILIATES
                        CONSOLIDATED BALANCE SHEET

                                        (In thousands, except share data)
                                             September 30     December 31     
                                                 1995             1994         
                                             (Unaudited)                
ASSETS
Cash and Cash equivalents                         $41,098       $47,679 
                                              ----------------------------
Money market investments:                
  Interest-bearing deposits with banks              1,628         5,323
  Federal funds sold                                    0         2,000 
 
                                              ----------------------------
            Total money market investments          1,628         7,323
                                              ----------------------------
  
Securities available-for-sale                     208,928       248,281 
  Securities held-to-maturity (market value
  of $43,584 at September 30, 1995 and
  $22,242 at December 31, 1994)                    43,151        22,911 
                                               ---------------------------
            Total securities                      252,079       271,192 
                                               ---------------------------
Loans:                                            825,220       783,565 
Less:  Unearned interest                           48,808        40,908 
       Reserve for loan losses                      7,508         7,227 
                                               ---------------------------
             Net loans                            768,904       735,430 
                                               ---------------------------
Premises and equipment                             24,766        23,649
Accrued interest receivable                         7,810         7,739 
Other assets                                       14,115        14,563
                                               ---------------------------
            Total assets                       $1,110,400    $1,107,575 
                                               ===========================
LIABILITIES
Deposits:
  Non-interest-bearing                            123,979       123,078
  Interest-bearing                                831,841       825,155 
                                               ---------------------------
            Total deposits                        955,820       948,233 
              
Federal funds purchased and securities sold
  under agreements to repurchase                   36,814        53,401
Short-term borrowings                               5,360         4,571
Accrued interest payable                            5,149         2,754
Other liabilities                                   1,091         1,387
Long-term debt                                      7,480         9,920
                                              ----------------------------
       Total liabilities                       $1,011,714    $1,020,266 
                                              ----------------------------
SHAREHOLDERS' EQUITY
Preferred stock, no par value
  Authorized shares:        2,000,000                 -               -
              
Common stock,
  Par value:                    $5.00
  Authorized shares:       10,000,000
  Shares issued:            3,826,581              19,133        19,133
Surplus                                            33,320        33,320
Retained earnings                                  46,474        41,430 
Net unrealized holding gains (losses) on
  securities available-for-sale                      (241)       (6,574)
                                              ----------------------------
       Total shareholders' equity                  98,686        87,309 
                                              ----------------------------
       Total liabilities and 
       shareholders' equity                    $1,110,400    $1,107,575
                                              ============================