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

                           FORM 10-Q

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

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

            For the quarterly period ended March 31, 1998

               Commission file number   0 - 12784

                      WESTBANK CORPORATION
     (Exact name of registrant as specified in its charter)


                Massachusetts                             04 -  2830731
(State  or other jurisdiction of inc. or org.)      (I.R.S. Employer I.D. No.)



225 Park Avenue, West Springfield, Massachusetts             01090-0149
   (Address  of  principal executive offices)                (Zip Code)

                         (413) 747-1400
      (Registrant's telephone number, including area code)


          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  X  NO

     Common stock, par value $2 per share: 3,765,552 shares
outstanding as of April 30, 1998.



<PAGE>



             WESTBANK CORPORATION AND SUBSIDIARIES

                             INDEX

                 PART I - FINANCIAL INFORMATION

                                                             Page

Financial Statements

     Condensed Consolidated Balance Sheets                      3

     Condensed Consolidated Statements of Income and
     Comprehensive Income                                       4

     Condensed Consolidated Statements of Stockholders' Equity  5

     Condensed Consolidated Statements of Cash Flows            6

     Notes to Condensed Consolidated Financial Statements     7-8

Management's Discussion and Analysis of Financial Condition 
and Results of Operations                                    9-15


                  PART II - OTHER INFORMATION


     ITEM 1.  Legal Proceedings                                16

     ITEM 2.  Changes in Securities and Use of Proceeds        16

     ITEM 3.  Defaults upon Senior Securities                  16

     ITEM 4.  Submission of Matters to a Vote of 
              Security Holders                                 16

     ITEM 5.  Other Information                             16-17

     ITEM 6.  Exhibits and Reports on Form 8-K                 17

     Signatures                                                18

<PAGE>



WESTBANK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Dollar amounts in thousands)                March 31, 1998  December 31, 1997
------------------------------------------------------------------------------
ASSETS
Cash and due from banks:
     Non-interest bearing                         $  11,242           $  9,603
     Interest bearing                                    22                 79
Federal funds sold                                      179              3,678
------------------------------------------------------------------------------
Total  cash and cash equivalents                     11,443             13,360
Investment securities available for sale             21,300             20,088
Investment securities held to maturity (approximate
  market value of $38,598 in 1998 and
    $34,655 in 1997)                                 38,484             34,503
------------------------------------------------------------------------------
Total securities                                     59,784             54,591
------------------------------------------------------------------------------
Loans                                    $ 235,554           $ 231,012
Mortgage loans held-for-sale                 3,757               4,251
Allowance for loan losses                   (2,852)             (2,848)
------------------------------------------------------------------------------
     Net-loans                                      236,459            232,415
Bank premises and equipment                           4,676              4,474
Other real estate owned - net of
  allowance for losses of $200 in
    1998 and $200 in 1997                               379                149
Accrued interest receivable                           1,764              1,968
Other assets                                          1,956              1,308
------------------------------------------------------------------------------

TOTAL ASSETS                                      $ 316,461          $ 308,265
==============================================================================

LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
      Non-interest bearing                        $  46,306          $  48,638
      Interest bearing                              230,464            222,922
------------------------------------------------------------------------------
        Total Deposits                              276,770            271,560
Borrowed funds                                       12,717             11,884
Accrued interest payable                                393                379
Other liabilities                                     1,266                691
------------------------------------------------------------------------------
        Total Liabilities                           291,146            284,514
------------------------------------------------------------------------------
Stockholders' Equity:
 Common stock    - $2 par value
      Authorized - 9,000,000 shares
      Issued     - 3,747,797 shares in 1998 and
                   3,581,377 shares in 1997           7,496              7,163
     Additional paid in capital                       9,570              8,819
     Retained earnings                                8,174              7,708
     Accumulated other comprehensive income              75                 61
------------------------------------------------------------------------------
        Total Stockholders' Equity                   25,315             23,751
------------------------------------------------------------------------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY        $ 316,461          $ 308,265
==============================================================================

See accompanying notes to condensed consolidated financial statements.

<PAGE>

WESTBANK CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED
STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited)

(Dollar amounts in thousands)
Three months ended March 31,                         1998        1997
---------------------------------------------------------------------
Income:
  Interest and fees on loans                      $ 4,979     $ 4,643
  Interest and dividend income
     on ecurities                                     827         670
   Interest on temporary investments                   36         115
---------------------------------------------------------------------
Total interest and dividend income                  5,842       5,428
Interest expense                                    2,579       2,411
---------------------------------------------------------------------
Net interest income                                 3,263       3,017
Provision for loan losses                              19         150
---------------------------------------------------------------------
Net interest income after provision
    for loan losses                                 3,244       2,867
---------------------------------------------------------------------
Non-interest income                                   608         506
---------------------------------------------------------------------
Non-interest expenses:
    Salaries and benefits                           1,225       1,128
    Other real estate expenses                         22           8
    Other non-interest expense                        983         934
    Occupancy - net                                   225         223
---------------------------------------------------------------------     
Total  non-interest  expense                        2,455       2,293
---------------------------------------------------------------------
Income before income taxes                          1,397       1,080
Income taxes                                          558         443
---------------------------------------------------------------------

Net Income                                        $   839     $   637
=====================================================================

Net income per share
                 - Basic                          $  0.22     $  0.19
                 - Diluted                        $  0.22     $  0.18

Weighted average shares outstanding
                 - Basic                        3,733,402   3,426,453
                 - Dilutive Option Shares         104,956      95,684
                 - Diluted                      3,838,358   3,522,137
=====================================================================

Comprehensive Income:
Net Income                                           $839        $637
  Other comprehensive income:
     Unrealized gain/(loss) on securities
           available for sale                         127        (389)
      Tax effect                                      (52)        162
=====================================================================

Total other comprehensive income                       75        (227)
=====================================================================

Comprehensive Income                                 $914        $410
=====================================================================

See accompanying notes to condensed consolidated financial statements.


<PAGE>

WESTBANK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
YEAR ENDED DECEMBER 31, 1997 AND THREE MONTHS ENDED MARCH 31, 1998

(1998 Unaudited)

(Dollar amounts in thousands)
<TABLE>
<CAPTION>



                                                                      ACCUMULATED
                                      COMMON STOCK                          OTHER
                                                    ADDITIONAL      COMPREHENSIVE
                                 NUMBER OF       PAR   PAID IN RETAINED   INCOME/
                                    SHARES     VALUE   CAPITAL EARNINGS     (LOSS)  TOTAL
-----------------------------------------------------------------------------------------
<S>                              <C>          <C>       <C>      <C>        <C>   <C>
BALANCE-DECEMBER 31, 1996        3,346,802    $6,694    $7,633   $5,517     $(99) $19,745
Net income                               -         -         -    3,231        -    3,231
Cash dividends declared
($.30 per share)                         -         -         -   (1,040)       -   (1,040)
Shares issued:
   Stock Option Plan                88,156       176        94        -        -      270
   Dividend Reinvestment
       and Stock Purchase Plan     146,419       293     1,092        -        -    1,385
   Unrealized gain
       on  securities 
       available for sale                -         -         -        -      160      160
-----------------------------------------------------------------------------------------
BALANCE-DECEMBER  31, 1997       3,581,377     7,163     8,819    7,708       61   23,751
Net income                               -         -         -      839        -      839
Cash Dividend Declared
($0.10 per share)                        -         -         -     (373)       -     (373)
Shares issued:
   Stock Option Plan               154,536       309       619        -        -      928
   Dividend Reinvestment
       and Stock Purchase Plan      11,884        24       132		  -        -      156
   Unrealized gain
       on securities 
       available for sale                -         -         -        -       14       14
-----------------------------------------------------------------------------------------
BALANCE-MARCH 31, 1998           3,747,797   $ 7,496   $ 9,570  $ 8,174     $ 75 $ 25,315
=========================================================================================
</TABLE>

     See accompanying notes to condensed consolidated financial statements.




<PAGE>


WESTBANK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS


(Dollar amounts in thousands)
Three months ended March 31,                                   1998        1997
-------------------------------------------------------------------------------

Operating activities:
Net income                                                    $ 839       $ 637
  Adjustments to reconcile net income to net cash provided by
    operating activities:
     Provision for loan losses                                   19         150
     Depreciation and amortization                              189         163
     Provision for other real estate owned                       17           0
     Decrease (increase) in accrued interest receivable         229        (160)
     Realized gain on sale of other real estate owned           (30)          0
     Increase in other assets                                  (673)       (284)
     Increase in interest payable on deposits                    14          28
     Increase in other liabilities                              575         631
-------------------------------------------------------------------------------
Net cash provided by operating activities                     1,179       1,165
-------------------------------------------------------------------------------
Investing activities:
   Investments and mortgage-backed securities:
     Held to maturity:
       Purchases                                            (18,485)    (11,481)
       Proceeds from maturities and principal payments       14,504       3,091
   Available for sale:
       Purchases                                             (4,584)     (1,714)
       Proceeds from sales                                    1,270           0
       Proceeds from maturities and principal payments        2,102          30
Purchases of premises and equipment                            (391)       (251)
Net (increase) decrease in loans                             (4,296)     (2,886)
Proceeds from sale of other real estate owned                    30           0
-------------------------------------------------------------------------------
Net cash used in investing activities                        (9,850)    (13,211)
-------------------------------------------------------------------------------
Financing activities:
   Net increase (decrease) in borrowings                        833        (375)
   Net increase (decrease) in deposits                        5,210       8,626
   Proceeds from exercise of stock options 
     and stock purchase plan                                  1,084         423
   Dividends paid                                              (373)       (256)
-------------------------------------------------------------------------------
Net cash used by financing activities                         6,754       8,418
-------------------------------------------------------------------------------
Decrease in cash and cash equivalents                        (1,917)     (3,628)
Cash and cash equivalents at beginning of period             13,360      23,401
-------------------------------------------------------------------------------
Cash and cash equivalents at end of period                  $11,443     $19,773
===============================================================================
Cash paid:
   Interest on deposits and other borrowings                 $2,565      $2,383
   Income taxes                                                 195         155
   Transfers of loans to other real estate owned                247          66

        See notes to consolidated financial statements.

<PAGE>

WESTBANK CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
THREE MONTHS ENDED MARCH 31, 1998 AND 1997
(Unaudited)

NOTE A - GENERAL INFORMATION

Westbank Corporation (hereinafter sometimes referred to as
"Westbank" or the "Corporation") is a registered Bank Holding
Company organized to facilitate the expansion and diversification of
the business of Park West Bank and Trust Company (hereinafter
sometimes referred to as "Park West" or the "Bank") into additional
financial services related to banking.  Substantially all operating
income and net income of the Corporation are presently accounted for
by Park West.


NOTE B - CURRENT OPERATING ENVIRONMENT

The Corporation operates eleven banking offices located in Hampden
County and also operates a Trust Department providing services
normally associated with holding property in a fiduciary or agency
capacity.  A full range of retail banking services are furnished to
individuals, businesses and non-profit organizations.  The
Corporation's primary source of revenue is derived from providing
loans to customers, predominately located in Western Massachusetts.

The Federal Deposit Insurance Corporation Improvement Act of 1991
("FDICIA") imposes significant regulatory restrictions and
requirements on banking institutions insured by the FDIC and their
holding companies.  FDICIA established capital categories into which
financial institutions are placed based on capital level.  Each
capital category establishes different degrees of regulatory
restrictions which can apply to a financial institution.  As of
March 31, 1998, Park West's capital was at a level that placed the
Bank in the "well capitalized" category as defined by FDICIA.

FDICIA imposes a variety of other restrictions and requirements on
insured banks.  These include significant regulatory reporting
requirements such as insuring that a system of risk-based deposit
insurance premiums and civil money penalties for inaccurate deposit
assessment reports exists.  In addition, FDICIA imposes a system of
regulatory standards for bank and bank holding company operations,
detailed truth in savings disclosure requirements, and restrictions
on activities authorized by state law but not authorized for
national banks.


NOTE C - BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial
statements for the first quarter ended March 31, 1998 and 1997 have
been prepared in accordance with generally accepted accounting
principles for interim information and with instructions for Form
10-Q.  Accordingly, they do not include all of the information and
notes required by generally accepted accounting principles for
complete financial statements.  In the opinion of management, all
adjustments (consisting of normal recurring accruals) considered
necessary for a fair presentation have been included.  Operating
results for the three month period ended March 31, 1998, are not
necessarily indicative of the results that may be expected for the
year ending December 31, 1998.

For further information, please refer to the Consolidated Financial
Statements and footnotes thereto included in the Westbank
Corporation's Annual Report on Form 10-K for the year ended December
31, 1997.


NOTE D - COMMITMENTS AND CONTINGENT LIABILITIES

In the normal course of business, there are outstanding commitments
and contingent liabilities, such as, standby letters of credit and
commitments to extend credit.  As of March 31, 1998 standby letters
of credit amounted to $595,000 and loan commitments were $29,818,000
and unused balances available on home equity lines of credit were
$8,247,000.  

<PAGE>

Trust Assets - Property with a book value of $117,661,000 at March
31, 1998 held for customers in a fiduciary or agency capacity, is
not included in the accompanying balance sheet since such items are
not assets of the Bank.


NOTE E - STOCKHOLDERS' EQUITY

The FDIC imposes leverage capital ratio requirements for state
non-member Banks.  The Bank's leverage capital ratio as of March 31,
1998 and December 31, 1997 was 7.54% and 7.04% respectively.  In
addition, the FDIC has established risk-based capital requirements
for insured institutions for Tier 1 risk-based capital of 4.00% and
total risk-based capital of 8.00%.  The Bank's risk-based capital at
March 31, 1998 for Tier 1 was 11.06% and total risk-based capital
was 12.31%, which meets the FDIC criteria for a well-capitalized
financial institution.

<PAGE>

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 1998 AND 1997

Changes in Financial Condition -
Total consolidated assets amounted to $316,461,000 on March 31,
1998, compared to $308,265,000 on December 31, 1997.  As of March
31, 1998 and March 31, 1997, earning assets amounted to,
respectively, $299,306,000 or 95% of total assets, and $277,289,000,
or 94% of total assets.  Earning assets increased during the first
three months of 1998 as a result of increases in securities and
loans.  Deposits originated throughout the Bank's branch system
provided the funds to support the increase in earning assets.

Changes in Results of Operations -
For the quarter ended March 31, 1998, net income totaled $839,000
compared to $637,000 for the three-month period ended March 31,
1997.

Non-interest income increased during the first quarter of 1998 by
$102,000 while non-interest expense increased by $162,000, primarily
the result of overall growth of the Corporation.

An overall increase in interest income and interest expense reflects
an increase in volume and interest rates on earning assets and
interest-bearing deposits.  Further analysis is provided in sections
on net interest revenue and supporting schedules.

Allowance for Loan Losses and Non-Performing Assets - A decrease of
$131,000 has been reflected in the provision for loan losses in the
quarter with $19,000 being provided compared to $150,000 in 1997.
Loans written off against the allowance for loan losses after
recoveries amounted to $15,000 for the first three months of 1998
versus $207,000 for the same period of 1997.

After giving effect to the actions described above, the allowance
for loan losses at March 31, 1998 totaled $2,852,000 or 1.19% of
total loans, as compared to $2,848,000 or 1.21% at December 31,
1997.

Non-performing past due loans at March 31, 1998 aggregated $858,000
or 0.36% of total loans compared to $1,226,000 or 0.52% at December
31, 1997.  The percentage of non-performing and past due loans
compared to total assets on those same dates, respectively, amounted
to 0.27% and 0.40%.

The change in non-performing loans was primarily the result of the
continued resolution of problem assets.

Other real estate owned increased during the most recent quarter by
$230,000 compared to 1997 and totals $379,000.  The percentage of
other real estate owned to total assets as of March 31, 1998 and
December 31, 1997 amounted to 0.12% and 0.40%, respectively.

Management has made every effort to recognize all circumstances
known at this time which could affect the collectibility of loan and
has reflected these in deciding as to the provision for loan losses,
the writing down of other real estate owned and impaired loans to
fair value and other loans (watch list) monitored by management, the
charge-off of loans and the balance in the allowance for loan
losses.  Management deems that the provision for the quarter, and
the balance in the allowance for loan losses, are adequate based on
results provided by the grading system and circumstances known at
this time.


NET INTEREST INCOME

The Corporation's earning assets include a diverse portfolio of
earning instruments ranging from the Corporation's core business of
loan extensions to interest-bearing securities issued by federal,
state and municipal authorities.  These earning assets are financed
through a combination of interest-bearing and interest-free sources.

<PAGE>

Net interest income, the most significant component of earnings, is
the amount by which the interest generated by assets exceeds the
interest expense on liabilities.  For analytical purposes, the
interest earned on tax exempt assets is adjusted to a "tax
equivalent" basis to recognize the income tax savings which
facilitates comparison between taxable and tax exempt assets.

The Corporation analyzes its performance by utilizing the concepts
of interest rate spread and net yield on earning assets.  The
interest rate spread represents the difference between the yield on
earning assets and interest paid on interest-bearing liabilities.
The net yield on earning assets is the difference between the rate
of interest on earning assets and the effective rate paid on all
funds - interest-bearing liabilities, as well as interest-free
sources (primarily demand deposits and shareholders' equity).

The balances and rates derived for the analysis of net interest
income presented on the following pages reflect the consolidated
assets and liabilities of the Corporation's principal earning
subsidiary, Park West Bank and Trust Company.

(Dollar amounts in thousands)
Quarter ended March 31,                                         1998      1997
------------------------------------------------------------------------------
Interest and divided income                                   $5,842    $5,428
    Interest expense                                           2,579     2,411
------------------------------------------------------------------------------
    Net interest income                                       $3,263    $3,017
==============================================================================


INTEREST RATE SPREAD AND NET YIELD ON EARNING ASSETS

(Dollar amounts in thousands)
Quarter ended March 31,                            1998               1997
------------------------------------------------------------------------------
                                            Average            Average
                                            Balance   Rate     Balance    Rate
------------------------------------------------------------------------------
Earning Assets                             $291,062   8.03%   $271,129    8.01%
------------------------------------------------------------------------------
Interest-bearing
  liabilities                               234,693   4.40%    222,621    4.33%
------------------------------------------------------------------------------
Interest rate spread                                  3.63                3.68
------------------------------------------------------------------------------
Interest-free
  resources used to
  fund earning assets                        56,369             48,508
------------------------------------------------------------------------------
Total Sources of Funds                     $291,062   3.54    $271,129    3.56
==============================================================================
Net Yield on Earning Assets                           4.49%               4.45%
==============================================================================


<PAGE>



CHANGES IN NET INTEREST INCOME

(Dollar amounts in thousands)


                                      QUARTER ENDED MARCH 31, 1998

                                                0 V E R

                                      QUARTER ENDED MARCH 31, 1997
------------------------------------------------------------------------------
                                               CHANGE DUE TO
                                       VOLUME      RATE     TOTAL
------------------------------------------------------------------------------
Interest Income:
  Loans                                  $315        21      $336
  Securities                              179       (22)      157
  Federal funds                           (86)        7       (79)
------------------------------------------------------------------------------
Total Interest Earned                     408         6       414
Interest Expense:
  Interest bearing deposits               106        39       145
  Other Borrowed Funds                     21         2        23
------------------------------------------------------------------------------
  Total Interest Expense                  127        41       168
------------------------------------------------------------------------------
Net Interest Income                      $281      $(35)     $246
==============================================================================

Net interest earned increased to $3,263,000 in the first quarter of
1998, up $246,000 as compared with the comparable period of 1997.

Average earning assets increased by $19,933,000 during the first
quarter of 1998.  The average earning base was $291,062,000 compared
to $271,129,000 in the same period last year.


OPERATING EXPENSES

The components of total operating expenses for the periods and their
percentage of gross income are as follows:

(Dollar amounts in thousands)
                                               QUARTER ENDED
------------------------------------------------------------------------------
                                        3-31-98             3-31-97
                                    Amount   Percent    Amount   Percent
------------------------------------------------------------------------------
Salaries and benefits               $1,225     18.99%   $1,128     19.01%
Other real estate expense               22      0.34         8      0.13
Other non-interest expense             983     15.24       934     15.74
Occupancy - net                        225      3.49       223      3.76
------------------------------------------------------------------------------
Total Operating Expenses            $2,455     38.06%   $2,293     38.64%
==============================================================================

<PAGE>



CAPITAL RATIOS
                                             3-31-98            12-31-97
------------------------------------------------------------------------------
Ratio of "Tier 1" leverage capital 
  to total assets at end of period              8.00%               7.70%



Regulatory risk-based capital requirements take into account the
different risk categories of banking organizations by assigning risk
weights to assets and the credit equivalent amounts of off-balance
sheet exposures.

In addition, capital is divided into two tiers.  For this
Corporation, Tier 1 includes the common stockholders' equity; Tier
2, or supplementary capital, includes not only the equity, but also,
a portion of the allowance for loan losses, net unrealized
gain/(losses) on securities available for sale are not permitted to
be included for regulatory capital purposes.

The following are the Corporation's risk-based capital ratios at
March 31, 1998:

Tier 1 Capital (minimum required 4.00%)        12.15%
Tier 2 Capital (minimum required 8.00%)        13.40%


INTEREST RATE SENSITIVITY

The following table sets forth the distribution of the repricing of
the Corporation's earning assets and interest bearing liabilities as
of March 31, 1998:


(Dollar amounts in thousands)

                           Three   Over Three     Over One       Over
                          Months    Months to      Year to       Five
                         or Less     One Year   Five Years      Years     Total
-------------------------------------------------------------------------------
Earning Assets           $57,036      $37,052      $95,392   $109,826  $299,306
Interest Bearing
  Liabilities             89,065       67,499       86,617              243,181
-------------------------------------------------------------------------------
Interest Rate
  Sensitivity Gap       $(32,029)    $(30,447)      $8,775   $109,826  $ 56,125
===============================================================================

Cumulative Interest
  Rate
  Sensitivity Gap       $(32,029)    $(62,476)    $(53,701)   $56,125

Interest Rate
  Sensitivity
  Gap Ratio               (10.70)%     (10.17)%       2.93%     36.69%


Cumulative Interest
  Rate Sensitivity
  Gap Ratio               (10.70)%     (20.87)%     (17.94)%    18.75%


<PAGE>



LIQUIDITY

Cash and due from banks, federal funds sold, investment securities,
mortgage-backed securities and loans available for sale, as compared
to deposits and short term liabilities, are used by the Corporation
to compute its liquidity on a daily basis.  At March 31, 1998, the
Corporation's ratio of such assets to total deposits and borrowed
funds was 25.90%.


PROVISION AND ALLOWANCE FOR LOAN LOSSES

(Dollar amounts in thousands)
Quarter ended March 31,                                1998      1997
------------------------------------------------------------------------------
Balance at beginning of period                      $ 2,848   $ 2,481
Provision charged to expense                             19       150
------------------------------------------------------------------------------
                                                      2,867     2,631
------------------------------------------------------------------------------
Less Charge-offs:
  Loans secured by real estate                           40        84
  Commercial and industrial loans                         7       131
  Consumer loans                                         11        14
------------------------------------------------------------------------------
                                                         58       229
------------------------------------------------------------------------------
Add-Recoveries:
  Loans secured by real estate                           25        19
  Commercial and industrial loans                        15         1
  Consumer loans                                          3         2
------------------------------------------------------------------------------
                                                         43        22
------------------------------------------------------------------------------
Net charge-offs (recoveries)                             15       207
------------------------------------------------------------------------------
Balance at end of period                            $ 2,852   $ 2,424
==============================================================================
Net Charge-offs (recoveries) to:
  Average loans                                         .01%      .09%
  Loans at end of period                                .01%      .09%
  Allowance for loan losses                             .53%     8.54%

Allowance for loan losses
  as a percentage of:
    Average loans                                      1.20%     1.09%
    Loans at end of period                             1.19%     1.09%

The approach the Corporation uses in determining the adequacy of the
allowance for loan losses is the combination of a target reserve and
a general reserve allocation.  Quarterly, based on an internal
review of the loan portfolio, the Corporation identifies required
reserve allocations targeted to recognized problem loans that, in
the opinion of management, have potential loss exposure or questions
relative to the depth of the collateral on these same loans.  In
addition, the Corporation allocates a general reserve against the
remainder of the loan portfolio.


<PAGE>

NON-ACCRUAL, PAST DUE AND RESTRUCTURED LOANS

(Dollar amounts in thousands)

                               03-31-98  12-31-97  09-30-97  06-30-97  03-31-97
-------------------------------------------------------------------------------
Non-accrual loans:
Loans secured by real estate       $595      $983      $897    $1,143    $1,377
Construction/Land development         2         3         0        33        78
Commercial and Industrial Loans      37        37         6       240       238
Consumer Loans                        1        19         9         5        14
-------------------------------------------------------------------------------
                                   $635    $1,042      $912     1,421     1,707
-------------------------------------------------------------------------------
Loans contractually
 past due 90 days or more
 still accruing:
Loans secured by real estate       $193      $170      $198       $15       $70
Commercial and Industrial Loans      24         0        18         0        76
Consumer Loans                        6        14        54        10        14
-------------------------------------------------------------------------------
                                   $223      $184      $270        25       160
-------------------------------------------------------------------------------
Total non-accrual, past
 due and restructured
 loans                             $858    $1,226    $1,182    $1,446    $1,867
===============================================================================

Non-accrual, past due and
 restructured loans
 as a percentage of total
 loans                             0.36%     0.52%     0.49%     0.62%     0.84%
===============================================================================

Allowance for loan
 losses as a percentage of
 non accrual, past due and
 restructured loans              332.40%   232.30%   233.08%   177.04%   129.83%
=============================================================================== 

OTHER REAL ESTATE

Other real estate owned - net      $379      $149      $277      $323      $403
===============================================================================

Total non-performing assets      $1,237    $1,375    $1,459    $1,769    $2,270
===============================================================================

Non-performing assets as a
  percentage of total assets       0.39%     0.45%     0.45%     0.57%     0.77%
===============================================================================

<PAGE>

WESTBANK CORPORATION AND SUBSIDIARIES
QUARTER TO DATE AVERAGE BALANCES
INTEREST EARNED - INTEREST EXPENSE
<TABLE>
<CAPTION>

(Dollar amounts in thousands)

Three months ended March 31,                      1998                        1997
                                     Balance  Interest    Rate    Balance   Interest    Rate
--------------------------------------------------------------------------------------------
<S>                                  <C>        <C>       <C>     <C>         <C>       <C>
Federal Funds sold and
   temporary  investments             $2,570       $36    5.60%    $8,712       $115    5.28%
Securities                            51,701       827    6.40     40,619        670    6.60
Loans                                236,791     4,979    8.41    221,798      4,643    8.37
--------------------------------------------------------------------------------------------
Total earning assets                 291,062    $5,842    8.03    271,129     $5,428    8.01
--------------------------------------------------------------------------------------------
Loan loss allowance                   (2,923)                      (2,537)
All other assets                      17,640                       17,493
--------------------------------------------------------------------------------------------
TOTAL ASSETS                        $305,779                     $286,085
============================================================================================
LIABILITIES AND EQUITY

Interest bearing deposits           $224,416    $2,499    4.45   $215,071     $2,354    4.38
Borrowed funds                        10,277        80    3.12      7,550         57    3.02
--------------------------------------------------------------------------------------------
Total interest bearing
    liabilities                      234,693    $2,579    4.40    222,621     $2,411    4.33
--------------------------------------------------------------------------------------------
Interest rate spread                                      3.63%                         3.68%
Demand deposits                       45,302                       41,877
Other liabilities                      1,031                        1,358
Shareholders' equity                  24,753                       20,229
--------------------------------------------------------------------------------------------
TOTAL LIABILITIES
      AND EQUITY                    $305,779                     $286,085
============================================================================================
Net Interest Income                             $3,263                        $3,017
Interest Earned/Earning Assets                            8.03%                         8.01%
Interest Expense/Earning Assets                           3.54                          3.56
--------------------------------------------------------------------------------------------
Net Yield on Earning Assets                               4.49%                         4.45%
============================================================================================
</TABLE>

<PAGE>

                   PART II - OTHER INFORMATION



ITEM 1.   Legal Proceedings - None


ITEM 2.   Changes in Rights of Securities Holders - None


ITEM 3.   Defaults by Company on its Senior Securities - None


ITEM 4.   Results of Votes on Matters Submitted to a Vote of
          Security Holders - None


ITEM 5.   Other Events

  a.  Information Concerning Forward-Looking Statements.

       Westbank has made and may make in the future forward looking
       statements concerning future performance, including but not
       limited to future earnings, and events or conditions which
       may affect such future performance.  These forward looking
       statements are based upon management's expectations and
       belief concerning possible future developments and the
       potential effect of such future developments on Westbank.
       There is no assurance that such future developments will be
       in accordance with management's expectations and belief or
       that the effect of any future developments on Westbank will
       be those anticipated by Westbank management.

       All assumptions that form the basis of any forward looking
       statements regarding future performance, as well as events or
       conditions which may affect such future performance, are
       based on factors that are beyond Westbank's ability to
       control or predict with precision, including future market
       conditions and the behavior of other market participants.
       Among the factors that could cause actual results to differ
       materially from such forward looking statements are the
       following:
       
       1.  The status of the economy in general, as well as in
           Westbank's prime market area, Western Massachusetts;

       2.  The recovery of the real estate market in Western
           Massachusetts;

       3.  Competition in Westbank's prime market area from other
           banks, especially in light of continued consolidation in the
           New England banking industry.

       4.  Any changes in federal and state bank regulatory
           requirements;

       5.  Changes in interest rates; and

       6.  The cost and other effects of unanticipated legal and
           administrative cases and proceedings, settlements and
           investigations.

       While Westbank periodically reassesses material trends and
       uncertainties affecting the Corporation's performance in
       connection with its preparation of management's discussion
       and analysis of results of operations and financial condition
       contained in its quarterly and annual reports, Westbank does
       not intend to review or revise any particular forward looking
       statement.

  b.   Registration on Form S-3

       On June 19, 1997 the Corporation filed a registration
       statement on Form S-3, which is hereby incorporated by
       reference.
  
<PAGE>  
  
  c.  Registration of Form S-8
  
       On June 19, 1997, the Corporation filed a registration
       statement on Form S-8, which is hereby incorporated by
       reference.
       
       
ITEM 6.   Exhibits and Reports on Form 8-K - None

  a.   Exhibits

                          EXHIBIT INDEX
                                
                                                                       Page No.
                                                                                
3.     Articles of Organization, as amended                                  **

       (a) Articles of Organization, as amended                               *

       (b) By-Laws, as amended                                                *

27.    Financial Data Schedule                                   To be included


  *    Incorporated by reference to identically numbered exhibits
       contained in Registrant's Annual Report on Form 10-K for the
       year ended December 31, 1988
  
  **   Incorporated by reference to identically numbered exhibits
       contained in Registrant's Annual Report on Form 10-K for the
       year ended December 31, 1987
  
  b.   Reports on Form 8-K - None

<PAGE>

Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Quarterly Report to be signed on
its behalf by the undersigned thereunto duly authorized.








                                     WESTBANK CORPORATION






Date:   May 12, 1998				 /s/ Donald R. Chase
                                     Donald R. Chase
                                     President and Chief
                                     Executive Officer









Date:   May 12, 1998				 /s/ John M. Lilly
                                     John M. Lilly
                                     Treasurer  and  Chief
                                     Financial Officer