UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                   FORM 10-QSB

(Mark One)
    X        Quarterly Report  Pursuant to Section 13 or 15(d) of the Securities
 -------     Exchange Act of 1934

             For the quarterly period ended September 30, 1999

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

             For the transition period from _____ to _____

Commission File Number:  0-23345

                         WYMAN PARK BANCORPORATION, INC.
        -----------------------------------------------------------------
        (Exact Name of Small Business Issuer as Specified in its Charter)


            Delaware                                          52-2068893
-------------------------------                           -------------------
(State or Other Jurisdiction of                           (I.R.S. Employer
Incorporation or Organization)                            Identification No.)


                11 West Ridgely Road, Lutherville, Maryland 21093
                -------------------------------------------------
                    (Address of Principal Executive Offices)

                                 (410)-252-6450
                                 --------------
               Registrant's Telephone Number, Including Area Code

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

As of November 4, 1999, the issuer had 905,926 shares of Common Stock issued and
outstanding.

Transitional Small Business Disclosure Format (check one):

Yes___   No    X

<PAGE>
                                    Contents

Part I.   Financial Information                                             Page
          ---------------------                                             ----

Item I.   Financial Statements

          Consolidated Statements of Financial Condition at
          September 30, 1999 and June 30, 1999.........................       2

          Consolidated Statements of Operations for the Three Month
          Periods Ended September 30, 1999 and 1998....................       3

          Consolidated Statements of Cash Flows for the Three Month
          Periods Ended September 30, 1999 and 1998....................       4

          Notes to Consolidated Financial Statements...................     5-7

Item 2.   Management's Discussion and Analysis of Financial Condition and
          Results of Operations........................................    8-12

Part II.  Other Information
          -----------------

Item 1.  Legal Proceedings.............................................      13

Item 2.  Changes in Securities.........................................      13

Item 3.  Defaults Upon Senior Securities...............................      13

Item 4.  Submission of Matters to a Vote of Security Holders...........      13

Item 5.  Other Information.............................................      13

Item 6.  Exhibits and Reports on Form 8-K..............................      13

Signatures.............................................................      14

                                       1
<PAGE>
                Wyman Park Bancorporation, Inc. and Subsidiaries
                              Lutherville, Maryland
                 Consolidated Statements of Financial Condition

<TABLE>
<CAPTION>
                                                               September 30,              June 30,
                                                                    1999                    1999
                                                                    ----                    ----
                                                                 (Unaudited)
         Assets
         ------

<S>                                                           <C>                      <C>
Cash and noninterest bearing deposits                         $     532,555            $     346,756
Interest bearing deposits in other banks                          3,111,832                7,068,548
Federal funds sold                                                1,861,124                4,685,426
                                                              -------------            -------------
Total cash and cash equivalents                                   5,505,511               12,100,730
Loans receivable, net                                            58,389,229               56,839,675
Mortgage-backed securities held to maturity
  at amortized cost, fair value of $208,557 (9/99)
  and $217,971 (6/99)                                               207,548                  216,663
Federal Home Loan Bank of Atlanta stock, at cost                    508,500                  508,500
Accrued interest receivable                                         292,212                  292,175
Ground rents owned, at cost                                         122,600                  122,600
Property and equipment, net                                         144,667                  155,281
Federal and state income taxes receivable                                 -                   13,688
Deferred tax asset                                                  189,020                  189,020
Prepaid expenses and other assets                                    92,861                   92,056
                                                             --------------            -------------
Total Assets                                                    $65,452,148              $70,530,388
                                                             --------------            -------------

         Liabilities & Stockholders' Equity
         ---------------------------------

Liabilities:
Demand deposits                                                $  5,764,669             $  5,803,776
Money market and NOW accounts                                    12,082,075               12,169,347
Time deposits                                                    38,520,493               40,035,036
                                                             --------------             ------------
Total deposits                                                   56,367,237               58,008,159
Borrowings                                                                -                2,650,000
Advance payments by borrowers for taxes,
  insurance and ground rents                                        331,744                1,278,634
Accrued interest payable on savings deposits                         20,943                   20,148
Accrued interest on borrowings                                            -                    5,038
Federal and state income taxes payable                               46,492                      727
Accrued expenses and other liabilities                              566,231                  538,375
                                                             --------------             ------------
Total liabilities                                                57,332,647               62,501,081

Stockholders' Equity
--------------------
Common stock, par value $.0l per share; authorized
  2,000,000 shares; issued 1,011,713 shares                          10,117                  10,117
Additional paid-in capital                                        3,959,985               3,959,985
Contra equity - Employee Stock Ownership Plan (ESOP)               (632,420)               (632,420)
Retained earnings, substantially restricted                       5,981,583               5,891,389
Treasury Stock; 105,787 shares, at cost at
  September 30, 1999                                             (1,199,764)             (1,199,764)
                                                             --------------             ------------
Total stockholders' equity                                        8,119,501               8,029,307
                                                             --------------             ------------
Total liabilities and stockholders' equity                      $65,452,148             $70,530,388
                                                             --------------             -----------
See accompanying notes to financial statements.
</TABLE>

                                        2
<PAGE>

                Wyman Park Bancorporation, Inc. and Subsidiaries
                              Lutherville, Maryland
                      Consolidated Statements of Operation
                                   (Unaudited)


                                                  For the Three Months
                                                   Ended September 30,
                                                   1999           1998
                                                   ----           ----

Interest and fees on loans receivable          $1,063,714        $1,190,661
Interest on mortgage-backed securities              3,420             4,669
Interest on investment securities                       -                 -
Interest on other investments                     103,244           117,125
                                               ----------        ----------
  Total interest income                        $1,170,378        $1,312,455
                                               ----------        ----------

Interest on savings deposits                   $  653,808        $  672,356
Interest on Federal Home Loan Bank
  of Atlanta advances                                   -                 -
Interest on borrowed money                          3,084                 -
Interest on escrow deposits                           835               824
                                               ----------        ----------
  Total interest expense                       $  657,727        $  673,180

 Net interest income before provision
   for loan losses                                512,651           639,275
Provision for loan losses                               -             2,000
                                               ----------        ----------
  Net interest income                          $  512,651        $  637,275
                                               ----------        ----------

Other Income
------------
  Loan fees and service charges                $   18,724        $   16,263
  Gain on sales of loans receivable                     -             6,347
  Other                                             4,276            10,875
                                               ----------        ----------
    Total other income                         $   23,000        $   33,485
                                               ----------        ----------

Noninterest Expenses
--------------------
  Salaries and employee benefits               $  229,598        $  185,880
  Occupancy costs                                  24,310            24,352
  Professional services                            22,070            10,879
  Federal deposit insurance premiums                8,434             8,341
  Furniture and fixtures depreciation
    and maintenance                                13,135            12,365
  Data processing                                  20,301            21,332
  Advertising                                       9,783             8,848
  Franchise and other taxes                        11,271            11,179
  Other                                            46,533            49,293
                                               ----------        ----------
    Total noninterest expenses                 $  385,435        $  332,469

Income before tax provision                       150,216           338,291

Provision for income taxes                         60,021           131,020
                                               ----------        ----------
    Net Income                                 $   90,195        $  207,271
                                               ----------        ----------

    Net income per share, basic                     $0.11             $0.22

    Net income per share, diluted                   $0.11             $0.22


See accompanying notes to financial statements.

                                        3
<PAGE>

                         Wyman Park Bancorporation, Inc.
                                and Subsidiaries
                              Lutherville, Maryland

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                              Three Months Ended September 30,
                                                                              --------------------------------
                                                                                     1999            1998
                                                                                     ----            ----
Cash Flows from operating activities
------------------------------------
<S>                                                                             <C>              <C>
  Net income                                                                    $       90,195   $    207,271
  Adjustments to reconcile net income to net
    Cash provided by operating activities:
         Depreciation and amortization                                                  12,759         13,872
         Provision for loan losses                                                           -          2,000
         Amortization of loan fees                                                     (16,638)       (24,551)
         Gain on sales of loans receivable                                                   -         (6,347)
         Loans originated for sale                                                           -       (697,800)
         Proceeds from loans originated for sale                                             -        704,147
         Increase in accrued interest receivable                                           (37)        (9,396)
         (Increase) decrease in prepaid expenses and other assets                         (805)         1,272
         Increase in accrued expenses and other liabilities                             27,856         15,931
         Decrease in federal and state income taxes receivable                          13,688            130
         Increase (decrease) in federal and state income taxes payable                  45,765       (183,110)
         Increase in accrued interest payable on
          savings deposits                                                                 795          3,844
         Decrease in accrued interest payable on savings deposits                       (5,038)             -
                                                                                --------------   ------------
Net cash provided by operating activities                                              168,540         27,263

Cash flows from investing activities
------------------------------------
  Net increase in loans receivable                                                  (1,032,919)      (243,766)
  Purchase of loan participations                                                     (500,000)       (70,309)
  Mortgage-backed securities principal repayments                                        9,115         17,227
  Purchases of property and equipment                                                   (2,145)          (400)
                                                                                --------------   ------------
 Net cash used in investing activities                                              (1,525,949)      (297,248)

Cash flows from financing activities
------------------------------------
  Net increase (decrease) in savings deposits                                       (1,640,921)     2,880,473
  Net decrease in checks outstanding in excess of bank balance                               -        (13,931)
  Decrease in advance payments by borrowers
    for taxes, insurance and ground rents                                             (946,889)    (1,020,130)
  Decrease in borrowings                                                            (2,650,000)
  Cash used for repurchase of common stock                                                   -       (298,152)
                                                                                --------------   ------------
Net cash provided by (used in) financing activities                                 (5,237,810)     1,548,260

Net increase (decrease) in cash and cash equivalents                              $ (6,595,219)    $1,278,275

Cash and cash equivalents at beginning of period                                    12,100,730      6,848,123
                                                                                --------------   ------------
Cash and cash equivalents at end of period                                        $  5,505,511     $8,126,398
                                                                                --------------   ------------
Supplemental information
------------------------
  Interest paid on savings deposits and borrowed funds                            $    657,728     $  674,351
  Income taxes paid                                                               $        569     $  314,359
</TABLE>

See accompanying notes to financial statements.

                                        4
<PAGE>
                WYMAN PARK BANCORPORATION, INC. AND SUBSIDIARIES
                              LUTHERVILLE, MARYLAND
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)


NOTE 1:   WYMAN PARK BANCORPORATION, INC.

Wyman Park Bancorporation,  Inc. (the "Company") is the holding company of Wyman
Park Federal Savings & Loan  Association  ("Association"),  which converted from
mutual to stock form ("Stock  Conversion") on January 5, 1998. All references to
the Company prior to January 5, 1998,  except where  otherwise  indicated are to
the Association.  The Company's common stock began trading on the OTC Electronic
Bulletin Board on January 7, 1998 under the symbol "WPBC".

The Association is regulated by the Office of Thrift  Supervision  ("OTS").  The
primary  business of the Association is to attract  deposits from individual and
corporate  customers and to originate  residential and commercial mortgage loans
and consumer loans.  The Association  competes with other financial and mortgage
institutions  in attracting and retaining  deposits and originating  loans.  The
Association  conducts  operations  through  its main  office  located at 11 West
Ridgely Road, Lutherville,  Maryland 21093 and one branch office located at 7963
Baltimore-Annapolis Boulevard, Glen Burnie, Maryland 21060.

NOTE 2:  BASIS OF PRESENTATION

The accompanying  unaudited consolidated financial statements have been prepared
in accordance with  instructions  for Form 10-QSB and therefore,  do not include
all  disclosures  necessary  for a complete  presentation  of the  statements of
condition,  statements of operations  and statements of cash flows in conformity
with generally accepted accounting  principles.  However, all adjustments which,
in the opinion of  management,  are necessary for the fair  presentation  of the
interim  financial  statements have been included.  Such  adjustments  were of a
normal  recurring  nature.  The results of operations for the three months ended
September  30, 1999 are not  necessarily  indicative  of the results that may be
expected for the entire year.

NOTE 3:  CASH AND CASH EQUIVALENTS

For cash, non-interest bearing deposits, variable rate interest-bearing deposits
in other  banks and federal  funds sold,  the  carrying  amount is a  reasonable
estimate of fair value.

                                        5
<PAGE>

NOTE 4:  EARNINGS PER SHARE

Basic  earnings  per share is computed by  dividing  net income by the  weighted
average number of common shares outstanding for the appropriate period. Unearned
Employee  Stock  Ownership  Plan (ESOP)  shares are not included in  outstanding
shares.  Diluted  earnings  per share is computed by dividing  net income by the
weighted average shares  outstanding as adjusted for the diluted effect of stock
options  and  unvested  stock  awards  based  on the  "treasury  stock"  method.
Information relating to the calculations of net income per share of common stock
is summarized for the three months ended September 30, 1999 and 1998 as follows:

                                        Three Months Ended    Three Months Ended
                                        September 30, 1999    September 30, 1998
                                        ------------------    ------------------

Net income                                  $  90,195             $207,271
Weighted average shares
  Outstanding basic EPS                       815,949              938,830
Diluted items
  Stock options                                33,005                    -
Adjusted weighted average shares used
  for diluted EPS                             848,954              938,830


NOTE 5:  REGULATORY CAPITAL REQUIREMENTS

The following  table presents the  Association's  capital  position based on the
September 30, 1999 financial statements.
<TABLE>
<CAPTION>
                                                                           To Be Well
                                                                        Capitalized Under
                                                     For Capital        Prompt Corrective
                            Actual               Adequacy Purposes      Action Provisions
                    ---------------------        -----------------   ---------------------
                        Amount     Ratio         Amount    Ratio     Amount        Ratio
                        ------     -----         ------    -----     ------        -----
<S>                 <C>             <C>         <C>          <C>     <C>            <C>
Total Capital (to
 Risk Weighted
 Assets)            $  7,214,805    19.8%       $2,909,085   8.0%    $3,636,357     10.0%
Tier I capital (to
 Risk Weighted
 Assets)               6,932,205    19.1%        1,454,543   4.0%     2,181,814      6.0%
Tier 1 Capital (to
 Average Assets)       6,932,205    10.6%        2,618,225   4.0%     3,272,781      5.0%
</TABLE>

                                        6
<PAGE>

NOTE 6:  RECENT ACCOUNTING PRONOUNCEMENTS

FASB statement on Accounting for Derivative Instruments and Hedging Activities -
In  June,  1998,  the  Financial  Accounting  Standards  Board  ("FASB")  issued
Statement of Financial Accounting Standards ("SFAS") No. 133, as amended by SFAS
No. 137, which standardizes the accounting for derivative  instruments including
certain derivative instruments embedded in other contracts, by requiring that an
entity  recognize  these  items as assets or  liabilities  in the  statement  of
financial  position and measure  them at fair value.  This  Statement  generally
provides  for  matching  the timing of gain or loss  recognition  on the hedging
instrument  with the  recognition of the changes in the fair value of the hedged
asset or  liability  that are  attributable  to the hedged risk or the  earnings
effect of the hedged forecasted transaction.  The Statement,  which is effective
for all fiscal  quarters of all fiscal years  beginning  after June 15, 2000, is
not  expected  to  materially  affect the  Company's  financial  position or its
results of operations.


                                        7
<PAGE>

ITEM 2:  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS.

FORWARD-LOOKING STATEMENTS

When used in this  filing and in future  filings  by Wyman Park  Bancorporation,
Inc.  (the  "Company")  with the  Securities  and  Exchange  Commission,  in the
Company's  press releases or other public or shareholder  communications,  or in
oral statements made with the approval of an authorized  executive officer,  the
words or phrases "would be," "will allow,"  "intends to," "will likely  result,"
"are expected to," "will continue," "is anticipated,"  "estimate,"  "project" or
similar expressions are intended to identify "forward-looking statements" within
the  meaning of the  Private  Securities  Litigation  Reform  Act of 1995.  Such
statements are subject to risks and uncertainties,  including but not limited to
changes in economic conditions in the Company's market area, changes in policies
by regulatory agencies,  fluctuations in interest rates, demand for loans in the
Company's market area and  competition,  all or some of which could cause actual
results  to differ  materially  from  historical  earnings  and those  presently
anticipated or projected.

The Company  wishes to caution  readers not to place undue  reliance on any such
forward-looking  statements,  which speak only as of the date made,  and advises
readers  that  various  factors,   including   regional  and  national  economic
conditions,  substantial  changes in levels of market interest rates, credit and
other risks of lending and investment  activities and competitive and regulatory
factors,  could affect the Company's  financial  performance and could cause the
Company's  actual  results for future  periods to differ  materially  from those
anticipated or projected.

The Company does not undertake,  and specifically disclaims any obligations,  to
update any  forward-looking  statements to reflect  occurrences or unanticipated
events or circumstances after the date of such statements.

IMPACT OF THE YEAR 2000

The Company has conducted a comprehensive review of its environment and computer
systems to identify any potential  risk  associated  with the Year 2000, and has
developed an implementation plan to address the issues.

The Company's data processing is performed by a service provider.  Other support
software,  computer hardware and environmental  controls, such as HVAC and alarm
systems,  utilized  in-house is under  maintenance  agreements  with third party
vendors,  consequently the Company is very dependent on these vendors to conduct
its business.  The Company has contacted  each vendor to request time tables for
Year 2000  compliance  and  expected  costs,  if any, to be passed  along to the
Company. To date, the Company has been part of a national testing of its service
provider, and following the testing, the service provider has

                                        8
<PAGE>

stated  that their  system is Year 2000  qualified.  All  software  applications
considered mission critical have been tested and are year 2000 qualified.  Other
support software,  although not considered  mission critical is being tested and
Year 2000 qualified as vendors provide  upgrades and  instructions  for testing.
Environmental controls do not utilize date driven computer chips, and present no
year 2000 risk.

The Company has developed a detailed  Business  Resumption and Contingency Plan.
In the event that the Company can not  function  normally on the first  business
day  of  the  year  2000,  the  plan  outlines  contingency  planning  for  both
environmental and operational failures related to the year 2000. The Company has
contracted  with its service  provider to reserve a seat at a disaster  recovery
site, in the worse case event that the Company does not have electrical power on
the first business day of the year 2000, or for any extended period. The Company
will also have year end reports  from its  service  provider,  and can  function
manually for a limited time, using year-end balances. The Company has determined
that although more labor intense, functions performed by support software can be
performed  manually,  if necessary.  The Company  previously  identified certain
hardware  and  equipment  that was not Year 2000  compliant.  This  hardware and
equipment  has  been  replaced  and the  related  capital  expenditures  totaled
approximately  $12,000.00  and were  included in the 1999  fiscal year  results.
Expenses  related to Year 2000 are not expected to have a significant  impact on
the Company's financial position.

COMPARISON OF FINANCIAL CONDITION AT SEPTEMBER 30, 1999 AND JUNE 30, 1999

The  Company's  assets  decreased  $5.0  million  or 7.1% to  $65.5  million  at
September  30,  1999  from  $70.5  million  at June  30,  1999.  Cash  and  cash
equivalents  decreased  $6.6 million or 54.5% to $5.5  million at September  30,
1999 from $12.1 million at June 30, 1999, primarily as a result of the payoff of
borrowings and a decrease in savings  deposits.  Net loans receivable  increased
$1.6 million or 2.8% to $58.4  million at September  30, 1999 from $56.8 million
at June  30,  1999.  The $1.6  million  increase  in net  loans  receivable  was
primarily  the result of an  increase of  $800,000  in  residential  real estate
loans,  an increase of  $300,000 in consumer  loans,  an increase of $300,000 in
commercial real estate loans and an increase of $100,000 in commercial  non-real
estate loans.  Savings deposits  decreased $1.6 million or 2.8% to $56.4 million
at  September  30,  1999 from $58.0  million  at June 30,  1999.  The  Company's
stockholders'  equity increased $90,000 or 1.1% to $8.1 million at September 30,
1999 from $8.0  million at June 30,  1999,  as a result of net income of $90,000
for the quarter ended September 30, 1999.

COMPARISON OF OPERATING  RESULTS FOR THE QUARTER AND NINE MONTHS ENDED SEPTEMBER
30, 1999 AND SEPTEMBER 30, 1998

Net Income

The Company  reported net income of $90,000 for the quarter ended  September 30,
1999 compared to $207,000 for the quarter ended September 30, 1998. The $117,000
decline in

                                        9

<PAGE>

net income was primarily  due to a decrease in net interest  income of $126,000,
and an  increase  in  noninterest  expense  of  $53,000,  partially  offset by a
decrease in income tax expense of $71,000.

Interest Income

Total  interest  income  decreased  by $142,000 or 10.8% to $1.2 million for the
quarter  ended  September  30,  1999 from $1.3  million  for the  quarter  ended
September 30, 1998.  The decrease in total  interest  income for the  comparable
three  months  periods  was due to a decrease  of $5.3  million  in the  average
balance of  interest-earning  assets to $65.0 million from $70.3 million,  and a
decrease of 28 basis points in the average yield on  interest-earning  assets to
7.20% from 7.48%.

The decrease in the average  balance of  interest-earning  assets as compared to
the three months ended  September 30, 1998 is due to a decrease in average loans
receivable  and also a  decrease  in  federal  funds  sold,  as a result of loan
payoffs and use of cash to fund the Company's return of capital distribution.

Interest Expense

Total interest expense  decreased by $15,000 or 2.2% to $658,000 for the quarter
ended September 30, 1999 from $673,000 for the quarter ended September 30, 1998.
The decrease in total interest  expense for the comparable  three months periods
was  due  to  a  decrease  of  21  basis   points  in  the   average   yield  on
interest-bearing  liabilities  to  4.61%  from  4.82%,  partially  offset  by an
increase of $1.0 million in the average balance of interest-bearing  liabilities
to $56.8 million from $55.8 million.

The  increase  in the average  balance of  interest-bearing  liabilities  is due
primarily to an increase of $1.0 million in average savings deposits as compared
to the three months ended September 30, 1998.

Net Interest Income

The Company's net interest income decreased by $126,000 or 19.7% to $513,000 for
the quarter  ended  September  30,  1999 from  $639,000  for the  quarter  ended
September 30, 1998.  The decrease in net interest  income was primarily due to a
decrease   in  the  ratio  of   average   interest-earning   assets  to  average
interest-bearing  liabilities to 114.5% from 125.9%.  The Company's net yield on
interest-earning assets decreased 47 basis points to 3.17% from 3.64%.

Provision For Loan Losses

Management  monitors its  allowance  for loan losses and makes  additions to the
allowance,  through the provision for loan losses,  as economic  conditions  and
other factors dictate.

                                       10
<PAGE>

Management maintains its allowance for loan losses at a level which it considers
to be adequate to provide for loan losses  based on volume,  type of  collateral
and prior loan loss  experience.  During the three  months ended  September  30,
1999, the Company  recorded no provision for loan losses  compared to $2,000 for
the three months ended September 30,1998. The Company's nonperforming loans as a
percentage of loans  receivable  was 0.20% and 0.00% at September 30, 1999,  and
June  30,  1999,  respectively,  all  consisting  of  single-family  residential
mortgage loans.

Noninterest Income

Total  noninterest  income  decreased  by $10,000  or 30.3% to  $23,000  for the
quarter ended  September  30, 1999 from $33,000 for the quarter ended  September
30, 1998. The decrease in noninterest  income was due to a decrease of $6,000 in
gain on sales of loans receivable to $0 for the quarter ended September 30, 1999
from  $6,000 for the  quarter  ended  September  30,  1998,  and a  decrease  of
approximately $7,000 in miscellaneous operating income to $4,000 for the quarter
ended September 30, 1999 from $11,000 for the quarter ended September 30, 1998.

Noninterest Expenses

Total  noninterest  expenses  increased  by $53,000 or 16.0% to $385,000 for the
quarter ended  September 30, 1999 from $332,000 for the quarter ended  September
30,1998.  The increase in noninterest  expenses was primarily due to an increase
in  compensation  and  benefits  expense of $44,000 or 23.7% to $230,000 for the
quarter ended  September  30,1999 from $186,000 for the quarter ended  September
30, 1998. The decrease in compensation and benefits expense was primarily due to
expenses  related to the Company's  Recognition  and Retention Plan (RRP) in the
amount of $19,000 and increases due to increased  staff in the amount of $17,000
during the quarter  ended  September  30, 1999, as compared to the quarter ended
September 30, 1998.

Liquidity and Capital Resources

Liquidity  management for the Company is both an ongoing and long-term  function
of  the  Company's  asset/liability  management  strategy.  Excess  funds,  when
applicable, generally are invested in overnight deposits at a correspondent bank
and at the Federal Home Loan Bank (FHLB) of Atlanta.  Currently when the Company
requires funds,  beyond its ability to generate deposits,  additional sources of
funds are available through the FHLB of Atlanta.  The Company has the ability to
pledge its FHLB of Atlanta stock or certain other assets as collateral for up to
$8 million in advances.  Management and the Board of Directors  believe that the
Company's  liquidity is adequate.  The Company's most liquid assets are cash and
cash  equivalents,  which include  short-term  investments.  The levels of these
assets are dependent

                                       11
<PAGE>

on the Company's operating,  financing and investing activities during any given
period.  At September 30, 1999,  the Company's  cash on hand,  interest  bearing
deposits, Federal funds sold and short-term investments totaled $5.5 million.

The Company anticipates that it will have sufficient funds available to meet its
current loan origination commitments of approximately $2.4 million. Certificates
of deposit  which are scheduled to mature in less than one year at September 30,
1999 totaled $25.5 million. Historically, a high percentage of maturing deposits
have remained with the Company.

The Company's  principal  sources of funds are  deposits,  loan  repayments  and
prepayments,  and other  funds  provided by  operations.  While  scheduled  loan
repayments are relatively predictable,  deposit flows and early loan prepayments
are  more  influenced  by  interest  rates,  general  economic  conditions,  and
competition.  The Association  maintains investments in liquid assets based upon
management's  assessment of (1) need for funds,  (2) expected deposit flows, (3)
yields  available  on  short-term  liquid  assets  and  (4)  objectives  of  the
asset/liability management program.

The  Company's  primary  uses of cash in investing  activities  during the three
months  ended  September  30, 1999 were a net  increase of $1.0 million in loans
receivable, other than the purchase of loan participations of $500,000.

The  Company's  primary  uses of cash in financing  activities  during the three
months ended  September 30, 1999  consisted of a net decrease of $2.7 million in
borrowings,  a net decrease of $1.6 million in savings deposits,  and a decrease
of $900,000 in advance  payments by borrowers  for taxes,  insurance  and ground
rents.

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<PAGE>

PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS
         None.

ITEM 2.  CHANGES IN SECURITIES
         None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES
         None.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY-HOLDERS
         No matters were submitted to the stockholders  during the quarter ended
         September 30, 1999.

ITEM 5.  OTHER INFORMATION
         None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K
         (a)  The following exhibit is filed as part of this Form 10QSB:
                 Exhibit 27 - Financial Data Schedule

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<PAGE>
                                   Signatures


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

                                   WYMAN PARK BANCORPORATION, INC.
                                   Registrant


Date:  November 10, 1999           /s/ Ernest A. Moretti
                                   ----------------------------------------
                                   Ernest A. Moretti
                                   President and Chief Executive Officer
                                   (Principal Executive Officer)


Date:  November 10, 1999           /s/ Ronald W. Robinson
                                   ----------------------------------------
                                   Ronald W. Robinson
                                   Treasurer
                                   (Principal Financial and Accounting Officer)


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