SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 10-Q

X	QUARTERLY REPORT PURSUANT TO 
SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1999

OR

		TRANSITION REPORT PURSUANT TO 
SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For transition period from ________ to ________

Commission File Number 0-20878

MNB BANCSHARES, INC.
(Exact name of Registrant as specified in its 
charter)

Delaware                 		
(State or other jurisdiction)
of incorporation or organization)

48-1120026
(I.R.S. Employer Identification Number)

800 Poyntz Avenue, Manhattan, Kansas 66502
(Address of principal executive offices)   (Zip Code)

(785) 565-2000
(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 __

	Indicate the number of shares outstanding of 
each of the Registrant's classes of common stock as 
of the latest practicable date:  As of May 7, 1999, 
the Registrant had outstanding 1,370,638 shares of 
its common stock, $.01  par value per share. 

MNB BANCSHARES, INC.
Form 10-Q Quarterly Report

Table of Contents

PART I
                               		Page Number

Item 1.	Financial Statements and Related Notes
                                     	   1 - 5
Item 2.	Management's Discussion and Analysis of 
Financial Condition and Results of Operations
                                         6 - 9
Item 3.	Quantitative and Qualitative Disclosures 
about	Market Risk                           10

PART II

Item 1.	Legal Proceedings               	   11
Item 2.	Changes in Securities	              11
Item 3.	Defaults Upon Senior Securities	    11
Item 4.	Submission of Matters to a Vote of
	  Security Holders	                        11
Item 5.	Other Information	                  11
Item 6.	Exhibits and Reports on Form 8-K	   11

Form 10-Q Signature Page	                   12

<TABLE>
MNB BANCSHARES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEET
<CAPTION>
                                       March 31,         December 31,
                                        1999               1998
<S>                                      <C>                <C>
ASSETS                                 (Unaudited) 

  Cash                                     $  3,122,112  $  3,875,529 

Investment securities:
  Held-to-maturity at amortized cost          2,180,474     2,266,343 
  (estimated fair value of $2,206,000
   and $2,296,000 respectively)

  Available-for-sale at estimated fair value 47,926,002    48,384,518 
Loans, net                                   75,444,363    75,052,990 
Premises and equipment, net                   2,179,902     2,231,850 
Other assets                                  4,086,238     4,019,000 

 Total assets                             $ 134,939,091 $ 135,830,230 

LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities:

  Deposits                                $ 111,328,003 $ 115,062,022 
  Other borrowings                            9,273,135     6,529,501 
  Accrued expenses, taxes and other liabilities 1,087,999     997,034 
     Total liabilities                      121,689,137   122,588,557 

Stockholders' equity:

  Common stock, $.01 par,
  3,000,000 shares authorized,
  1,370,638 and 1,288,476 shares
  issued and outstanding at
  1999 and 1998, respectively                  13,706         13,680 
  Additional paid in capital                8,209,927      8,199,525 
  Retained earnings                         5,130,508      5,021,547 
  Accumulated other comprehensive income      113,225        229,272 
  Unearned employee benefits                 (217,412)      (222,351)
   Total stockholders' equity              13,249,954     13,241,673 

   Total liabilities and stockholders' equity  $ 134,939,091  $ 135,830,230 

<FN>
See accompanying notes to condensed
consolidated financial statements.
</TABLE>

<TABLE>
MNB BANCSHARES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)

                              For the Three Months
                                 Ended March 31,
                              1999            1998
<S>                           <C>             <C>
Interest income:

  Loans                  $  1,597,994  $    1,996,945 
  Investment securities       673,516         621,525 
  Other                        31,743         116,776 
   Total interest income    2,303,253       2,735,246 

Interest expense:

  Deposits                  1,105,191       1,330,574 
  Borrowed funds              119,641         151,122 
     Total interest expense 1,224,832       1,481,696 

     Net interest income    1,078,421       1,253,550 

Provision for loan losses           -          30,000 

   Net interest income after
   provision for loan losses 1,078,421      1,223,550 

Noninterest income:

  Fees and service charges     181,438        204,064 
  Gains on sale of loans        52,803         61,726 
  Other                         20,146         23,793 
   Total noninterest income    254,387        289,583 

Noninterest expense:

  Compensation and benefits    514,518        492,596 
  Occupancy and equipment      147,363        165,470 
  Federal deposit insurance premiums  12,097   14,443 
  Data processing               33,796         42,209 
  Amortization                  59,350         63,871 
  Advertising                    9,964         15,673 
  Professional fees             42,610         49,216 
  Stationery, printing
  and office supplies           20,542         22,074 
  Other                        199,606        204,138 
   Total noninterest expense 1,039,846      1,069,690 

   Earnings before income taxes 292,962       443,443 

Income tax expense               98,502       143,858 

   Net earnings             $   194,460  $    299,585 

Earnings per share:

             Basic                 0.14  $       0.22 
             Diluted               0.14  $       0.21 

Dividends per share $             0.0625 $     0.0625 

<FN>
See accompanying notes to condensed
consolidated financial statements.
</TABLE>

<TABLE>
MNB BANCSHARES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF
CASH FLOWS
<CAPTION>

                                            For the Three Months
                                               Ended March 31,
                                            1999            1998
<S>                                          <C>             <C>
Net cash provided by
 operating activities                    $  793,883  $ 1,336,002 

INVESTING ACTIVITIES

 Net (increase) decrease in loans           (804,035)  1,435,812 
  Maturities and prepayments
  of investments held to maturity              5,184   1,584,540 
  Maturities and prepayments of
  investments available for sale           5,298,792   2,318,285 
  Proceeds from sale of invest-
  ments available for sale                 1,101,438           -   
  Proceeds from sale of invest-
  ments held to maturity                     102,317           -   
  Purchase of investments
  available for sale                      (6,171,414) (8,855,479)
  Proceeds from sale of
  foreclosed assets                                -      10,148 
  Purchases of premises
  and equipment, net                         (19,065)    (85,556)
     Net cash used in investing activities  (486,783) (3,592,250)

FINANCING ACTIVITIES

  FHLB advances (repayment), net           3,398,573    (535,714)
  Net increase (decrease) in deposits     (3,734,019)  4,750,738 
  Net decrease in securities sold under
  agreements to repurchase                         -     (17,316)
  Issuance of common stock under
  stock option plan                           10,428      30,134 
  Payment of dividends                       (85,499)    (80,279)
  Repayment on note payable                 (650,000)          -   
     Net cash provided by (used in)
     financing activities                 (1,060,517)  4,147,563 
  Net increase (decrease) in cash           (753,417)  1,891,315 
  Cash at beginning of period              3,875,529   6,698,451 
  Cash at end of  period                $  3,122,112 $ 8,589,766 

Supplemental disclosure of cash flow information:

   Cash paid during period for interest $ 1,212,238  $ 1,462,180 
   Cash paid during period for taxes              -  $   402,212 

Supplemental schedule of noncash investing activities:

 Transfer of loans to real estate owned $    50,000            - 

<FN>
See accompanying notes to condensed 
consolidated financial statements.
</TABLE>

MNB BANCSHARES, INC. AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements


1.	Interim Financial Statements

	The condensed consolidated financial statements 
of MNB Bancshares, Inc. (the "Company") and 
subsidiaries have been prepared in accordance with 
the instructions to Form 10-Q.  To the extent that 
information and footnotes required by generally 
accepted accounting principles for complete financial 
statements are contained in or consistent with the 
audited financial statements incorporated by 
reference in the Company's Form 10-K for the year 
ended December 31, 1998, such information and 
footnotes have not been duplicated herein.  In the 
opinion of management, all adjustments, consisting of 
normal recurring accruals, considered necessary for a 
fair presentation of financial statements have been 
reflected herein.  The December 31, 1998 condensed 
consolidated balance sheet has been derived from the 
audited balance sheet as of that date.  The results 
of the interim period ended March 31, 1999 are not 
necessarily indicative of the results expected for 
the year ended December 31, 1999.

2.	Earnings Per Share

	Basic earnings per share have been computed 
based upon the weighted average number of common 
shares outstanding during each year.  Diluted 
earnings per share include the effect of all 
potential common shares outstanding during each year.  
Earnings per share for all periods presented have 
been adjusted to give effect to the 5% stock 
dividends paid by the Company annually since 1994.

	The shares used in the calculation of basic and 
diluted income per share, which have been restated 
for the annual 5% stock dividends are shown below:

<TABLE>
<CAPTION>
          
                                For the quarters ended
                                       March 31,
                                1999              1998
<S>                             <C>               <C>
Weighted average common shares outstanding
                             1,369,425          1,351,041
Stock options                   46,508             61,960
Total                        1,415,933          1,413,001
</TABLE>

3.	Comprehensive Income

	The Company adopted SFAS No. 130, "Reporting 
Comprehensive Income", in the first quarter of 1998.  
SFAS No. 130 requires the reporting of comprehensive 
income and its components.  Comprehensive income is 
defined as the change in equity from transactions and 
other events and circumstances from non-owner sources 
and excludes investments by and distributions to 
owners.  Comprehensive income includes net income and 
other items of comprehensive income meeting the above 
criteria.  The Company's only component of other 
comprehensive income is the unrealized holding gains 
and losses on available for sale securities.

<TABLE>
<CAPTION>
                               For the three months
                                 ended March 31,
                             1999                  1998
<S>                           <C>                  <C> 
Net income                $194,460              $299,585
Unrealized holding gains
  (losses)                (185,525)               44,144
Less - reclassification adjustment
  for gain included in net income     1,647            -
Net unrealized gains (losses)
  on securities           (187,172)               44,144
Income tax expense (benefit) (71,125)             16,775

Total comprehensive income $78,413              $326,954
</TABLE>
	
MNB BANCSHARES, INC. AND SUBSIDIARIES
MANAGEMENT'S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

	General.  MNB Bancshares, Inc. (the "Company") 
is a bank holding company incorporated under the laws 
of the State of Delaware and is engaged in the 
banking business through its wholly-owned subsidiary, 
Security National Bank (the "Bank").  The home office 
for the Bank is Manhattan, Kansas, with branches 
operating in Auburn, Osage City, and Topeka, Kansas.  
The Company sold a branch in Beloit, Kansas during 
June 1998, which included approximately $3.3 million 
of loans and $2.8 million of deposits.  In addition, 
just prior to the sale, public funds of approximately
$3.0 million were withdrawn from the Beloit branch.
The Company's results of operations depend primarily on net 
interest income, which is the difference between 
interest income from interest-earning assets and 
interest expense on interest-bearing liabilities.  
The Company's operations are also affected by non-
interest income, such as service charges, loan fees 
and gains and losses from the sale of newly 
originated loans.  The Company's principal operating 
expenses, aside from interest expense, consist of 
compensation and employee benefits, occupancy costs, 
federal deposit insurance costs, data processing 
expenses and provision for loan losses.

	Net earnings for the first three months of 1999 
decreased $105,125, or 35.1%, to $194,460 as compared 
to the first three months of 1998.  Net interest 
income decreased $175,129, or 14.0%, from $1,223,550, 
to $1,078,421.  This decline in net earnings and net 
interest income was primarily the result of a 
decrease of approximately $11 million in loans 
outstanding related to increased levels of home 
mortgage refinancing due to lower rates. Noninterest 
income decreased $35,196, or 12.2%, from $289,583 to 
$254,387, due to a decrease in overdraft fees.  Non 
interest expense decreased $29,844 or 2.8%.  

	Interest Income.  Interest income decreased 
$431,993, or 15.8%, to $2.3 million from $2.7 million 
in the first quarter of 1998.  The Company 
experienced a significant decline in one-to-four 
family loans during the year ended December 31, 1998 
as borrowers took advantage of declining mortgage 
loan interest rates.  In accordance with the 
Company's interest rate risk guidelines, the majority 
of the long-term fixed rate mortgage loans originated 
in 1998 were sold to secondary market investors.  
While the Company was able to fund other types of 
loans as these home mortgages were refinanced, the 
volume of refinancings was so great that a 
significant amount of the funds available for 
investment were invested in relatively short term 
investment securities, which typically carry lower 
interest rates than can be obtained on commercial and 
consumer loans. 
	
	Interest Expense.  As compared to the same 
period a year earlier, interest expense during the 
first three months of 1999 decreased by $256,864, or 
17.3%.  Interest expense on deposits decreased 
$225,383, or 16.9% while interest expense on 
borrowings, consisting of advances from the Federal 
Home Loan Bank of Topeka (the "FHLB") and funds 
borrowed for acquisitions decreased $31,481, or 
20.8%, during this time period.  Interest expense 
decreased as a result of a decline in interest rates,
a decline in deposits resulting from the Beloit
branch sale, and the principal repayments on the 
Company's note payable.

	Provision for Loan Losses.  The Company did not 
make a provision for loan losses for the first 
quarter of 1999, as a result of the $9 million 
decline in one to four family loans and the strong 
quality of the loan portfolio.  The provision for 
loan losses was $30,000 in the first quarter of 1998.  
At March 31, 1999, the allowance for loan losses was 
$1,269,574, or 1.7% of gross loans outstanding, 
compared to $1,363,456, or 1.5% of gross loans outstanding,
at March 31, 1998.  The allowance for loan losses
was $1.3 million at December 31, 1998, or 1.7% of gross loans 
outstanding.

	Noninterest Income.  Noninterest income 
decreased $35,196, or 12.2%, for the first three 
months of 1999 to $254,387 compared to the same 
period in 1998.  This decrease was primarily due to a 
decline of 11.1% in fees and service charges from 
$204,064 to $181,438, of which approximately $30,000 
was attributable to a decrease in overdraft fee 
income.  

	Noninterest Expense.  Noninterest expense 
decreased $29,844, or 2.8%, to $1.0 million for the 
first three months of 1999 over the same period in 
1998.  

	Asset Quality and Distribution.  The Company's 
total assets remained stable at $134.9 million at 
March 31, 1999 compared to $135.8 million at December 
31, 1998.  The Company's primary ongoing sources of 
funds are deposits, proceeds from principal and 
interest payments on loans and investment securities 
and proceeds from the sale of mortgage loans and 
investment securities.  While maturities and 
scheduled amortization of loans are a predictable 
source of funds, deposit flows and mortgage 
prepayments are greatly influenced by general 
interest rates, economic conditions, competition, and 
the restructuring of the financial services industry.

	The primary investing activities of the Company 
are the origination of mortgage, consumer, and 
commercial loans and the purchase of investment and 
mortgage backed securities.  During the first three 
months of 1999, the Company originated mortgage loans 
in the amount of $5.0 million compared to $11.8 
million during the first three months of 1998.  
Generally, the Company originates long term fixed 
rate residential mortgage loans for immediate sale 
and does not warehouse loans to speculate on interest 
rates.

	Management believes that the quality of the 
loan portfolio continues to be strong as evidenced by 
the small number and amount of loans past due one month 
or more.  As of March 31, 1999, nine real estate 
loans were more than one month past due with a total 
balance of $598,068, which was 0.8% of total loans 
outstanding.  Three of these loans, totaling 
$277,344, were on non-accrual status as of March 31, 
1999.  With the exception of guaranteed student 
loans, sixteen consumer loans totaling $85,054, or 
0.1%, were over one month past due as of March 31, 1999 
and two of these loans with a balance of $9,507 were 
on non-accrual.  Additionally, twenty-one commercial 
loans totaling $521,875, or 0.7%, were past due.  
Seven of these commercial loans totaling $133,871 
were on non-accrual status. 

	During the three months ended March 31, 1999, 
the Company purchased investment securities available 
for sale in the amount of $6.2 million.  These 
activities were funded primarily by maturities and 
sales of investment securities of $5.3 million, along 
with deposits and proceeds from the sale of fixed 
rate mortgage loans.

	Liability Distribution.  At March 31, 1999, 
total deposits had a net decrease of $3.7 million 
from December 31, 1998, while borrowings increased 
$2.7 million.  This change in the liability mix is 
primarily related to daily fluctuations experienced
on the deposit balances maintained by our public 
funds providers.

	Noninterest bearing demand accounts at the end 
of the first quarter of 1999 totaled $9.1 million, or 
8.2% of deposits, compared to approximately 8.1%, or 
$9.3 million at December 31, 1998.  Certificates of 
deposit increased to  $55.5 million at March 31, 1999 
from $54.2 million, or 2.5%. Money market and NOW 
accounts decreased 13.5% from December 31, 1998 to 
$35.7 million from $41.2 million, and were 32.0% of
total deposits, while savings accounts increased
from $10.3 million to $11.0 million.  The decrease
in money market and NOW accounts was primarily
resulting from the fluctuating balances of our
public funds providers accounts.

	Liquidity.  The Company's most liquid assets 
are cash and cash equivalents and investment 
securities available for sale.  The level of these 
assets are dependent on the Company's operating, 
financing, lending and investing activities during 
any given period.  At March 31, 1999, and December 
31, 1998 respectively, these liquid assets totaled 
$51.0 million and $52.3 million.  During periods in 
which the Company is not able to originate a 
sufficient amount of loans and/or periods of high 
principal prepayments, the Company increases its 
liquid assets by investing in short-term U. S. 
Government and agency securities.

	Liquidity management is both a daily and long-
term function of management strategy.  Excess funds 
are generally invested in short-term investments.  In 
the event the Company requires funds beyond its 
ability to generate them internally, additional funds 
are generally available through the use of FHLB 
advances, a line of credit with the FHLB or through 
sales of securities.  At March 31, 1999, the Company 
had outstanding FHLB advances of $4.5 million and had 
$3.5 million outstanding on its $15 million line of 
credit.  Additionally, the Company has guaranteed a 
loan made to the Company's Employee Stock Ownership 
Plan (the "ESOP") with an outstanding balance of 
$217,412 at March 31, 1999, to fund the ESOP's 
purchase of shares in the Company's common stock 
offering in 1993.  The total borrowings by the 
Company were $9.3 million at March 31, 1999, compared 
to $6.5 million at December 31, 1998.  

	Capital.  The Federal Reserve Board has 
established capital requirements for bank holding 
companies which generally parallel the capital 
requirements for national banks under the Office of 
the Comptroller of the Currency (the "OCC") 
regulations.  The regulations provide that such 
standards will generally be applied on a bank-only 
(rather than a consolidated) basis in the case of a 
bank holding company with less than $150 million in 
total consolidated assets, such as the Company.  The 
Company's total capital of $13.2 million is, however, 
well in excess of the Federal Reserve Board's 
consolidated minimum capital requirements.

	At March 31, 1999, the Bank continued to 
maintain a sound Tier 1 capital ratio of 8.75% and a 
risk based capital ratio of 16.48%.  As shown by the 
following table, the Bank's capital exceeded the 
minimum capital requirements  (dollars in thousands):

<TABLE>
<CAPTION>

                                   March 31, 1999
                           Amount  Percent Required
<S>                         <C>     <C>      <C>
Tier 1 Capital            $11,809   8.75%    4.00%
Risk Based Capital         12,778  16.48%    8.00%
	
</TABLE>

Banks and bank holding companies are generally 
expected to operate at or above the minimum capital 
requirements.  The above ratios are well in excess of 
regulatory minimums and should allow the Company to 
operate without capital adequacy concerns.  The 
Federal Deposit Insurance Corporation Improvement Act 
of 1991 establishes a bank rating system based on the 
capital levels of banks.  The Bank is rated "well 
capitalized", which is the highest rating available 
under this capital-based rating system.

Year 2000 Compliance.  The Company utilizes and is 
dependent upon data processing systems and software 
to conduct its business.  The data processing systems 
and software include those developed and maintained 
by the Company's data processing provider and 
purchased software which is run on in-house computer 
networks.  In 1997, the Company established a 
committee and initiated a review and assessment of 
all hardware and software to confirm that it will 
function properly in the Year 2000.  

	The Company's data processing provider and 
those vendors providing mission critical systems and 
software which have been contacted have indicated 
their hardware and/or software is Year 2000 
compliant.  Testing of the mission critical systems 
and software was completed as of December 31, 1998.  
Testing on non-mission critical items was completed 
as of March 31, 1999.  Additionally, alarms, 
elevators, heating and cooling systems, and other 
computer-controlled mechanical devices on which the 
Company relies have been evaluated and no significant 
problems are anticipated with such systems.

	While there will be expenses incurred during 
the year, the Company has not identified any 
situations at this time that it anticipates will 
require material expenditures in order to become 
fully compliant.  It is currently estimated that 
total Year 2000 costs could be approximately 
$150,000, almost all of which has already been 
recognized and of which a material component was the 
reallocation of existing employee time to the Year 
2000 project.  In the event utility company services 
to the Company are significantly curtailed or 
interrupted, it would have an adverse effect on the 
Company's ability to conduct its business.  However, 
the Year 2000 problem is pervasive and complex and 
can potentially affect any computer process.  
Accordingly, no assurance can be given that Year 2000 
compliance can be achieved without additional 
unanticipated expenditures and uncertainties that 
might affect future financial results.

	An analysis has been done of the Company's 
borrowing customers.  The Company has initiated a 
program to communicate with identified key bank 
customers to ensure they are properly prepared for 
the Year 2000.  The Company does not anticipate that 
these credit customers will cause serious adverse 
consequences on the operations of the Company.  This 
same analysis has been performed for large depositors 
and funds providers with similar results.

A contingency and business resumption plan has been 
developed and tested by the Company to provide for 
reducing the business interruption of normal business 
operation in the event of a Year 2000 related 
failure.  This plan continues to be evaluated and 
revised if necessary, based on testing results and 
vendor notifications.

MNB BANCSHARES, INC. AND SUBSIDIARIES
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET 
RISK

	The Company's assets and liabilities are 
principally financial in nature and the resulting net 
interest income thereon is subject to changes in 
market interest rates and the mix of various assets 
and liabilities.  Interest rates in the financial 
markets affect the Company's decision on pricing its 
assets and liabilities which impacts net interest 
income, a significant cash flow source for the 
Company.  As a result, a substantial portion of the 
Company's risk management activities relates to 
managing interest rate risk.

	The Company's Asset/Liability Management 
Committee monitors the interest rate sensitivity of 
the Company's balance sheet using earnings simulation 
models and interest sensitivity GAP analysis.  The 
Company has set policy limits of interest rate risk 
to be assumed in the normal course of business and 
monitors such limits through its simulation process.

	The Company has been successful in meeting the 
interest rate sensitivity objectives set forth in its 
policy.  Simulation models are prepared to determine 
the impact on net interest income for the coming 
twelve months, including one using rates at December 
31, 1998 and forecasting volumes for the twelve month 
projection.  This position is then subjected to a 
shift in interest rates of 200 basis points rising 
and 200 basis points falling with an impact to the 
Company's net interest income on a one year horizon 
as follows:

<TABLE>
<S>                        <C>                          <C>
                   					$ change in net interest	      	% of net
Scenari	               			income			                    	int. income
200 basis point rising			$16,800		                     	0.31%
200 basis point falling		(86,400		                    	(1.61%)

</TABLE>

	The Company believes that no significant 
changes in its interest rate sensitivity position 
have occurred since December 31, 1998.  The Company 
also believes it is appropriately positioned for 
future interest rate movements, although it may 
experience some fluctuations in net interest income 
due to short term timing differences between the 
repricing of assets and liabilities.
				
	Safe Harbor Statement Under the Private 
Securities Litigation Reform Act of 1995. This 
quarterly report contains certain forward looking 
statements within the meaning of Section 27A of the 
Securities Act of 1933, as amended and Section 21E of 
the Securities Exchange Act of 1934, as amended.  The 
Company intends such forward-looking statements to be 
covered by the safe harbor provisions for forward-
looking statements contained in the Private 
Securities Reform Act of 1995, and is including this 
statement for purposes of these safe harbor 
provisions.  Forward-looking statements, which are 
based on certain assumptions and describe future 
plans, strategies and expectations of the Company, 
are generally identifiable by use of the words 
"believe," "expect," "intend," "anticipate," 
"estimate," "project" or similar expressions.  The 
Company's ability to predict results or the actual 
effect of future plans or strategies is inherently 
uncertain.  Factors which could have a material 
adverse affect on the operations and future prospects 
of the Company and the subsidiary include, but are 
not limited to, changes in: interest rates, general 
economic conditions, legislative/regulatory changes, 
monetary and fiscal policies of the U.S. Government, 
including policies of the U.S. Treasury and the 
Federal Reserve Board, the quality or composition of 
the loan or investment portfolios, demand for loan 
products, deposit flows, competition, demand for 
financial services in the Company's market area and 
accounting principles, policies and guidelines.  
These risks and uncertainties should be considered in 
evaluating forward-looking statements and undue 
reliance should not be placed on such statements.  
Further information concerning the Company and its 
business, including additional factors that could 
materially affect the company's financial results, is 
included in the Company's filings with the Securities 
and Exchange Commission.                          

MNB BANCSHARES, INC. AND SUBSIDIARIES

PART II

ITEM 1.	LEGAL PROCEEDINGS.

		There are no material pending legal 
proceedings to which the Company or its subsidiaries 
is a party other than ordinary routine litigation 
incidental to their respective businesses.

ITEM 2.	CHANGES IN SECURITIES.

		None

ITEM 3.	DEFAULTS UPON SENIOR SECURITIES.

		None

ITEM 4.	SUBMISSION OF MATTERS TO VOTE OF SECURITY 
HOLDERS.

		None

ITEM 5.	OTHER INFORMATION.

		None

ITEM 6.	EXHIBITS AND REPORTS ON FORM 8-K.

		A.	Exhibits

			Exhibit 27.  Financial Data Schedule.

		B.	Reports on Form 8-K

     None

SIGNATURES

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

             						MNB BANCSHARES, INC.

Date:  May 12, 1999			
	__________________________________
 /s/	Patrick L. Alexander
					President and Chief Executive Officer

Date:  May 12, 1999			
	__________________________________
	/s/	Mark A. Herpich
					Vice President, Secretary, Treasurer 
						  and Chief Financial Officer