SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   -----------

                                   FORM 10-QSB


[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
         SECURITIES EXCHANGE ACT OF 1934

         For the quarterly period ended December 31, 1997


                                       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 Number 0-23345



                         WYMAN PARK BANCORPORATION, INC.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


         Delaware                                       52-2068893
         --------                                       ----------
(State or other jurisdiction                         (I.R.S. Employer
    of incorporation or                               Identification
       organization)                                       Number)


11 West Ridgely Road, Lutherville, Maryland               21093
-------------------------------------------               -----
(Address of principal executive offices)                (ZIP Code)


Registrant's telephone number, including area code:  (410) 252-6450



         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 [ ] No [X]

         As of  September  30,  1997,  there were no shares of the  Registrant's
common stock issued and outstanding.


<PAGE>



                         WYMAN PARK BANCORPORATION, INC.


                                      INDEX


                                                               Page
                                                              Number
                                                              ------
PART I.      FINANCIAL INFORMATION

             Item 1.                                            1

             Item 2.                                            1


PART II.     OTHER INFORMATION                                  2

             SIGNATURES                                         3

                                        i

<PAGE>



                          PART I. FINANCIAL INFORMATION


         Wyman  Park   Bancorporation,   Inc.   (the   "Holding   Company")  was
incorporated under the laws of the State of Delaware for the purpose of becoming
the  savings and loan  holding  company of Wyman Park  Federal  Savings and Loan
Association (the "Association") in connection with the Association's  conversion
from a federally  chartered mutual savings  association to a federally chartered
stock   savings   association,   pursuant  to  its  Plan  of   Conversion   (the
"Conversion").  The Plan of  Conversion  was submitted and approved by a vote of
the  Association's  members at a special  meeting held on December 17, 1997. The
consummation  of the conversion was subject to, among other things,  the sale of
the minimum number of shares offered and compliance with the conversion approval
letter of the Office of Thrift  Supervision.  The Holding  Company  commenced on
November  21,  1997,  a  Subscription  and  Community  Offering of its shares in
connection with the conversion of the Association (the "Offering"). The Offering
terminated on December 18, 1997, and the  Conversion  closed on January 5, 1998.
The Holding Company's common stock began trading on the OTC Electronic  Bulletin
Board on January 7, 1998 under the symbol "WPBC."

         At December 31, 1997, the Holding  Company had no material  liabilities
and had not conducted any material operations.

                                        1

<PAGE>



                           PART II. OTHER INFORMATION


Item 1.           Legal Proceedings
                  -----------------
                  None.


Item 2.           Changes in Securities and Use of Proceeds
                  -----------------------------------------
                  None.


Item 3.           Defaults Upon Senior Securities
                  -------------------------------
                  None.


Item 4.           Submission of Matters to a Vote of Security Holders
                  ---------------------------------------------------
                  None.


Item 5.           Other Information
                  -----------------
                  None.


Item 6.           Exhibits and Reports on Form 8-K
                  --------------------------------
                  None.

                                        2

<PAGE>


                                   SIGNATURES


         Pursuant to the requirement 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.

                                           WYMAN PARK BANCORPORATION, INC.
                                           Registrant




Date: February 2, 1998                     /s/ Ernest A. Moretti
      ----------------                     -------------------------------------
                                           Ernest A. Moretti
                                           President and Chief Executive
                                           Officer (Duly Authorized Officer)





Date: February 2, 1998                     /s/ Ronald W. Robinson
      ----------------                     -------------------------------------
                                           Ronald W. Robinson, Chief Financial
                                           Officer (Principal Financial Officer)


                                        3