SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C. 20549


                               FORM 10-Q


           QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                  THE SECURITIES EXCHANGE ACT OF 1934
           For the quarterly period ended September 30, 2000

                                  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                             48-1120026
(State or other jurisdiction             (I.R.S. Employer Identification Number)
of incorporation or organization)


              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 November 13, 2000, the Registrant had outstanding
1,516,115 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                2 - 6
Item 2.    Management's Discussion and Analysis of Financial
             Condition and Results of Operations, including
             Quantitative and Qualitative Disclosures about
             Market Risk                                         7 - 13


                                PART II

Item 1.    Legal Proceedings                                         14
Item 2.    Changes in Securities                                     14
Item 3.    Defaults Upon Senior Securities                           14
Item 4.    Submission of Matters to a Vote of
             Security Holders                                        14
Item 5.    Other Information                                         14
Item 6.    Exhibits and Reports on Form 8-K                          14


Form 10-Q Signature Page                                             15




                 MNB BANCSHARES, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED BALANCE SHEETS
<TABLE>

                                                 September 30,  December 31,
                                                    2000           1999
ASSETS                                                  (Unaudited)
<S>                                                   <C>         <C>

  Cash and cash equivalents                       $3,421,431   $4,315,013

Investments:
  Held-to-maturity at amortized cost               1,204,892    1,603,268
  (estimated fair value of $1,205,000
    and $1,602,000 respectively)
  Available-for-sale at estimated fair value      43,219,526   43,402,200
Loans, net                                        94,472,542   87,720,201
Premises and equipment, net                        2,287,791    2,288,028
Other assets                                       4,943,496    3,933,590
                                                  __________   __________
     Total assets                               $149,549,678 $143,262,300
                                                ============ ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
  Deposits                                      $127,770,127 $112,336,329
  Other borrowings                                 6,591,935   16,698,857
  Accrued expenses, taxes and other liabilities    1,182,924      936,730
                                                 ___________  ___________
     Total liabilities                           135,544,986  129,971,916
                                                 ___________  ___________
Stockholders' equity:
  Common stock, $.01 par, 3,000,000 shares
    authorized, 1,516,115 and 1,449,303
    shares issued and outstanding at
    2000 and 1999, respectively                       15,161       14,493
  Additional paid in capital                       9,041,019    9,011,899
  Retained earnings                                5,243,615    4,821,937
  Accumulated other comprehensive income (loss)     (133,180)    (384,098)
  Unearned employee benefits                        (161,923)    (173,847)
                                                  ___________  __________
     Total stockholders' equity                   14,004,692   13,290,384
                                                  ___________  __________

     Total liabilities and stockholders' equity $149,549,678 $143,262,300
                                                ============ ============

<FN>

See accompanying notes to condensed consolidated financial statements.

</FN>
</TABLE>

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

                                         For the Nine Months
                                         Ended September 30,
                                           2000        1999
Interest income:
  Loans                                 $ 6,044,794 $ 5,000,638
  Investments                             1,951,121   2,034,282
  Other                                      57,898      11,484
                                        ___________ ___________
     Total interest income                8,053,813   7,046,404

Interest expense:
  Deposits                                3,796,702   3,226,210
  Borrowed funds                            658,104     446,814
                                          _________   _________
     Total interest expense               4,454,806   3,672,296

     Net interest income                  3,599,007   3,374,108

Provision for loan losses                    65,000           -
                                        ___________   _________

     Net interest income after
     provision for loan losses            3,534,007   3,374,108

Noninterest income:
  Fees and service charges                  805,427     598,222
  Gains  on sale of loans                    64,502     119,568
  Gains (losses) on sale of investments     (30,368)      7,147
  Other                                      39,351      38,753
                                            _______     _______
     Total noninterest income               878,912     763,690

Noninterest expense:
  Compensation and benefits               1,666,391   1,577,737
  Occupancy and equipment                   503,848     442,806
  Amortization                              171,314     170,525
  Data processing                           101,606      98,950
  Other                                     846,785     842,225
                                          _________   _________
     Total noninterest expense            3,289,944   3,132,243

     Earnings before income taxes         1,122,975   1,005,555

Income tax expense                          352,723     341,357
                                          _________   _________

     Net earnings                        $  770,252  $  664,198
                                          =========   =========
Earnings per share:
                          Basic          $     0.51  $     0.44
                          Diluted        $     0.50  $     0.43

Dividends per share                     $    0.1875 $    0.1875
<FN>

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

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

                                         For the Three Months
                                         Ended September 30,
                                           2000        1999
Interest income:
  Loans                                  $2,151,581   $1,745,504
  Investments                               663,140      672,046
  Other                                      42,662          333
                                         __________   __________
     Total interest income                2,857,383    2,417,883

Interest expense:
  Deposits                                1,470,360    1,056,646
  Borrowed funds                            147,614      191,580
                                         __________    _________
     Total interest expense               1,617,974    1,248,226

     Net interest income                  1,239,409    1,169,657

Provision for loan losses                    30,000            -
                                         __________    _________

     Net interest income after
     provision for loan losses            1,209,409    1,169,657

Noninterest income:
  Fees and service charges                  313,282      206,847
  Gains on sale of loans                     24,712       30,377
  Other                                      10,470        9,526
                                          _________    _________
     Total noninterest income               348,464      246,750

Noninterest expense:
  Compensation and benefits                 565,489      535,494
  Occupancy and equipment                   175,063      148,729
  Amortization                               62,234       55,588
  Data processing                            32,249       31,725
  Other                                     272,182      267,221
                                          _________    _________
     Total noninterest expense            1,107,217    1,038,757

     Earnings before income taxes           450,656      377,650

Income tax expense                          139,380      127,415
                                          _________    _________

     Net earnings                        $  311,276   $  250,235
                                          =========    =========
Earnings per share:
                          Basic         $      0.21  $      0.16
                          Diluted       $      0.20  $      0.16

Dividends per share                     $    0.0625  $    0.0625
<FN>

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


                 MNB BANCSHAES, INC. AND SUBSIDIARIES
            CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                              (Unaudited)
<TABLE>
<S>                                                   <C>        <C>

                                                 For the Nine Months
                                                 Ended September 30,
                                                 2000           1999

Net cash provided by operating activities   $    1,747,950  $   1,948,311

INVESTING ACTIVITIES
  Net increase in loans                        (7,010,754)     (8,225,514)
  Maturities and prepayments of
    investments held to maturity                   398,225        274,654
  Maturities and prepayments of
    investments available for sale              10,632,823     11,012,480
  Proceeds from sale of investments
    available for sale                           2,280,547      5,049,734
  Proceeds from sale of investments held
    to maturity                                          -        102,317
  Purchase of investments available for sale   (12,394,560)   (14,182,740)
  Net cash received from branch acquisitions    13,063,585              -
  Proceeds from sale of foreclosed assets           29,636         50,000
  Improvements of real estate owned                 (8,659)             -
  Purchases of premises and equipment, net        (228,780)      (161,699)
                                                __________     ___________
     Net cash provided by (used in)
       investing activities                      6,762,063     (6,080,768)

FINANCING ACTIVITIES
  Net increase (decrease) in deposits            1,010,189     (3,023,305)
  Federal Home Loan Bank borrowings
    (repayment), net                          (10,164,998)      8,835,010
  Proceeds (repayments) on note payable, net       70,000        (650,000)
  Purchase of treasury stock                      (45,448)              -
  Issuance of common stock under stock option plan  3,142          62,882
  Payment of dividends                           (276,480)       (262,962)
                                              ___________       _________
    Net cash provided by (used in)
      financing activities                     (9,403,595)      4,961,616
                                              ___________       _________
  Net decrease in cash and cash equivalents    (1,261,298)        829,159
  Cash and cash equivalents at beginning
    of period                                   4,315,013       3,875,529
                                              ___________       _________
  Cash and cash equivalents at end of
    period                                  $   3,421,431    $  4,704,688
                                            =============    ============

Supplemental disclosure of cash flow
information:
   Cash paid during period for interest     $   4,361,000  $    3,647,000
   Cash paid during period for taxes        $     276,000  $      158,000

Supplemental schedule of noncash investing
  activities:
   Transfer of loans to real estate owned   $     193,000  $      105,000

<FN>


See accompanying notes to condensed consolidated financial statements.
</FN>
</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,
1999,   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,  1999  condensed  consolidated  balance  sheet  has  been
derived  from the audited  balance  sheet as of that date.  The results
of the interim  periods ended  September  30, 2000 are not  necessarily
indicative  of the results  expected  for the year ending  December 31,
2000.

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>
<S>                                <C>        <C>            <C>       <C>


                                For the three months      For the nine months
                                 ended September 30,       ended September 30,
                                 2000      1999            2000      1999
      Weighted average
      common shares outstanding  1,516,115 1,521,397       1,517,690 1,515,358
      Stock options                 30,930    39,830          31,936    45,401
                                 _________ _________       _________ _________

      Total                      1,547,045 1,561,227       1,549,626 1,560,759
</TABLE>

3.    Comprehensive Income

      The Company's  only  component of other  comprehensive  income is
the  unrealized   holding  gains  and  losses  on  available  for  sale
investments.
<TABLE>
<CAPTION>
<S>                                     <C>    <C>           <C>      <C>

                                       For the three          For the nine
                                        months ended          months ended
                                       September 30,          September 30,
                                       2000      1999        2000      1999
  Net earnings                       $ 311,276  250,235      770,252  664,198
  Unrealized holding gains (losses)    397,891 (188,363)     374,337 (780,580)
   Less - reclassification
     adjustment for gains(losses)
     included in net earnings                -        -      (30,368)   7,147
                                        ______ ________      _______  _______

       Net unrealized gains
        (losses) on investments        397,891 (188,363)     404,705 (787,727)
  Income tax expense (benefit)         156,376  (71,578)     153,787 (299,336)
                                       _______  _______      _______ ________
  Total comprehensive income         $ 552,791 $133,450   $1,021,170 $175,807

</TABLE>

                 MNB BANCSHARES, INC. AND SUBSIDIARIES
                 MANAGEMENT'S DISCUSSION AND ANALYSIS
           OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS


      General.  MNB Bancshares, Inc. 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 home office for the Bank is Manhattan, Kansas,
with additional branch locations in Auburn, Manhattan, Osage City,
Topeka and Wamego, Kansas.  On January 6, 2000, we opened an in-store
supermarket branch in Manhattan.  We also completed the purchase of
the Wamego and Osage City branches of Commercial Federal Bank on July
21, 2000, which had total deposits of $14 million and total loans of
$1 million.  The acquisition and related costs of the acquisition
resulted in a premium of approximately $787,000, which is being
amortized over 15 (straight-line) years.  Our 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.  Our 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 and
investments.  Our 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 nine months of 2000 increased
$106,000, or 16%, to $770,000 as compared to the first nine months of
1999.  Net interest income increased $225,000, or 7%, from $3.4
million, to $3.6 million.  This improvement in net earnings and net
interest income was generally attributable to growth in the
commercial, commercial real estate and retail loan portfolios
resulting in an increase of approximately $11.5 million in net loans
outstanding from September 30, 1999.  Noninterest income increased
$115,000, or 15%, from $764,000 to $879,000, as new fee and service
charge initiatives overcame a $55,000 decrease in gains on sale of
loans and a $30,000 loss on sale of investments.  Noninterest expense
increased $158,000 or 5%, relating primarily to the opening during
January 2000 of our first supermarket branch in west Manhattan and
the Wamego and Osage City branch acquisitions during July 2000.

      Net earnings for the third quarter of 2000 increased 24% to
$311,000 in comparison to the same period in 1999.  Net interest
income increased $70,000, or 6%, to $1.2 million during this period.
Noninterest income increased 41% to $348,000 compared to $247,000 as
a result of increased fees and service charges which were partially
offset by gains on sale of loans declining and a loss on sale of
investments.  Noninterest expense increased $68,000, or 7%.

      Interest Income.  Interest income increased $1.0 million, or
14%, to $8.1 million from $7.0 million in the first nine months of
2000.  This increase was primarily related to the strong growth in
the loan portfolio, along with increased yields on our investment
portfolio.  Average loans for the first nine months of 2000 were
$91.2 million, compared to $78.1 million for the first nine months of
1999.

      Interest income for the third quarter of 2000 increased by
$440,000, or 18% compared to the same period of 1999.  Average loans
for the third quarter of 2000 were $94.7 million, compared to $81.8
million for the third quarter of 1999.

      Interest Expense.  As compared to the same period a year
earlier, interest expense during the first nine months of 2000
increased by $783,000, or 21%.  Interest expense on deposits
increased $571,000, or 18% while interest expense on borrowings,
consisting of advances from the Federal Home Loan Bank of Topeka and
funds borrowed for acquisitions, increased $211,000, or 47% during this
time period.  This rise in interest expense resulted from an increase
in deposits, an increase in interest rates and additional borrowings
from the Federal Home Loan Bank, offset partially by principal repayments
on our note payable.  Most of the increase in deposits resulted from the July,
2000 branch acquisitions.

      Interest expense for the third quarter of 2000 increased 30% to
$1.6 million from $1.2 million in 1999.  Deposit interest expense
increased $414,000, or 39%, to $1.5 million.  These increases were
also the result of an increase in deposits and an increase in
interest rates, offset partially by principal repayments on our note
payable and reductions in our Federal Home Loan Bank borrowings.

      Provision for Loan Losses.  The provision for loan losses for
the third quarter of 2000 was $30,000, bringing the total for the
first nine months of 2000 to $65,000.  No provision was made during
the first nine months of 1999.  While the loan portfolio quality
remains strong, management's review of the portfolio, coupled with
the increase in loans experienced during 1999 and 2000, prompted an
increased provision.  At September 30, 2000, the allowance for loan
losses was $1.3 million, or 1.3% of gross loans outstanding, compared
to $1.2 million at December 31, 1999, or 1.4% of gross loans
outstanding.

      Noninterest Income.  Noninterest income increased $115,000, or
15%, for the first nine months of 2000 to $879,000 compared to the
same period in 1999.  Fees and service charges increased from
$598,000 to $805,000, of which approximately $191,000 was
attributable to an increase in overdraft fee income.  Partially
offsetting this increase was a decline of 46% in gains on sale of
loans from $120,000 to $65,000, as refinancings declined due to the
increase in home mortgage rates over the past year.  Also offsetting
the increase was a $30,000 loss on sale of investments, as we
restructured our investment portfolio to obtain higher yielding
investments with a projected break even point in the fourth quarter
of 2000.

      Noninterest income for the third quarter of 2000 increased 41%
to $348,000, compared to $247,000 for the third quarter of 1999.
Contributing to this increase was an increase in fee and service
charge income of $106,000, offset by a decline in gains on sale of
loans of $6,000.

      Noninterest Expense.  Noninterest expense increased $158,000, or
5%, to $3.3 million for the first nine months of 2000 over the same
period in 1999, resulting from increased expenses for compensation
and benefits, advertising, and occupancy and equipment.  These
increased expense categories, related primarily to opening and
operating expenses of our new Dillons supermarket branch which opened
in January 2000, and our Wamego and Osage City branch acquisitions
during July 2000, were partially offset by reductions in professional
fees and federal deposit insurance premiums.  Noninterest expense for
the third quarter of 2000 increased $68,000, or 7% as compared to the
same period in 1999, with the results generally mirroring those of
the nine month periods.

      Asset Quality and Distribution.  Total assets increased to
$149.5 million at September 30, 2000 compared to $143.3 million at
December 31, 1999.  Our 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.

      Our primary investing activities are the origination of
mortgage, consumer, and commercial loans and the purchase of
investment and mortgage backed securities.  Generally, long term
fixed rate residential mortgage loans are originated for immediate
sale and we do 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 September  30, 2000,  nineteen
real  estate  loans  were  more  than one  month  past due with a total
balance of $1.0  million,  which was 1.1% of total  loans  outstanding.
Five of these loans,  totaling $335,000,  were on non-accrual status as
of  September  30,  2000.  With the  exception  of  guaranteed  student
loans,  twenty-one  consumer loans  totaling  $123,000,  or 0.1%,  were
over one month  past due as of  September  30,  2000 and three of these
loans  with  a  combined   balance  of  $35,000  were  on  non-accrual.
Additionally,  one  commercial  loan totaling  $50,000 was past due and
also on non-accrual status.

      During the nine months ended September 30, 2000, investment
securities available for sale were purchased in the amount of $12.4
million.  This was funded primarily by maturities of investment
securities of $10.6 million, along with deposit growth and proceeds
from the sale of investments available for sale of $2.3 million.

      Liability Distribution.  At September 30, 2000, total deposits
had a net increase of $15.4 million from December 31, 1999, while
borrowings decreased $10.1 million.  The change in the liability mix
was primarily related to the July 2000 branch acquisitions.

      Noninterest bearing demand accounts at the end of the third
quarter of 2000 totaled $10.1 million, or 8% of deposits, compared to
approximately 9%, or $10.1 million at December 31, 1999.
Certificates of deposit increased to  $63.8 million at September 30,
2000 from $55.1 million, or 15.7%.  Money market and NOW accounts
increased 19% from December 31, 1999 to $44.0 million from $37.1
million, and were 34% of total deposits, while savings accounts
decreased from $10.0 million to $9.9 million.  The increase in money
market and NOW accounts and certificates of deposit primarily
resulted from the July 2000 branch acquisitions.

      Liquidity.  Our most liquid assets are cash and cash equivalents
and investment securities available for sale.  The level of these
assets are dependent on the operating, financing, lending and
investing activities during any given period.  At September 30, 2000,
and December 31, 1999 respectively, these liquid assets totaled $46.6
million and $47.7 million.  During periods in which we are not able
to originate a sufficient amount of loans and/or periods of high
principal prepayments, we increase our liquid assets by investing in
short-term U. S. Government and agency securities.

       Liquidity management is both a daily and long-term function of
the management strategy.  Excess funds are generally invested in
short-term investments.  In the event funds are required beyond the
ability to generate them internally, additional funds are generally
available through the use of Federal Home Loan Bank advances, a line
of credit with the Federal Home Loan Bank or through sales of
securities.  At September 30, 2000, we had outstanding Federal Home
Loan Bank advances of $4.0 million and had $1.5 million outstanding
on our $27.5 million line of credit.  Additionally, we have
guaranteed a loan made to our Employee Stock Ownership Plan with an
outstanding balance of $161,923 at September 30, 2000, to fund the
plan's purchase of shares in our common stock offering in 1993.
Total borrowings were $6.6 million at September 30, 2000, compared to
$16.7 million at December 31, 1999.

      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 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, which includes
our organization.  It is anticipated that we will have in excess of
$150 million of total assets at the end of the fourth quarter of
2000.  Our total capital of $14.0 million is well in excess of the
Federal Reserve Board's consolidated minimum capital requirements.

      At September 30, 2000, Security National Bank continued to
maintain a sound Tier 1 capital ratio of 8.18% and a risk based
capital ratio of 13.96%.  As shown by the following table, Security
National Bank's capital exceeded the minimum capital requirements
(dollars in thousands):
<TABLE>
<CAPTION>
<S>                      <C>       <C>       <C>


                           September 30, 2000
                       Amount   Percent  Required
Tier 1 Capital         $12,238     8.18%     4.00%
Risk Based (Total)
Capital                 13,442    13.96%     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.  Security
National  Bank  is  rated  "well  capitalized",  which  is the  highest
rating available under this capital-based rating system.

      Recent   Accounting   Developments.   The  Financial   Accounting
Standards  Board issued  Statements of Financial  Accounting  Standards
('SFAS') No. 133,  'Accounting  for Derivative  Instruments and Hedging
Activities,'  in June 1998.  SFAS No. 133  establishes  accounting  and
reporting  standards  for  derivative  instruments,  including  certain
derivative  instruments  embedded in other  contracts,  and for hedging
activities.  It requires that an entity  recognize all  derivatives  as
either assets or  liabilities  in the  statement of financial  position
and measure those instruments at fair value.  This statement, as amended
by SFAS No. 137, is effective for all fiscal quarters beginning after
December 15, 2000.  We believe adoption of SFAS Nos. 133 and 137 will not
have a material effect on our financial position or results of operations,
nor will adoption require additional capital resources.

      Recent Regulatory Developments. The Gramm-Leach-Bliley Act (the
'Act'), which was enacted in November, 1999, allows eligible bank
holding companies to engage in a wider range of nonbanking
activities, including greater authority to engage in securities and
insurance activities. Under the Act, an eligible bank holding company
that elects to become a financial holding company may engage in any
activity that the Board of Governors of the Federal Reserve System
(the 'Federal Reserve'), in consultation with the Secretary of the
Treasury, determines by regulation or order is financial in nature,
incidental to any such financial activity, or complementary to any
such financial activity and does not pose a substantial risk to the
safety or soundness of depository institutions or the financial
system generally. National banks are also authorized by the Act to
engage, through 'financial subsidiaries,' in certain activity that is
permissible for financial holding companies (as described above) and
certain activity that the Secretary of the Treasury, in consultation
with the Federal Reserve, determines is financial in nature or
incidental to any such financial activity.

      Although various bank regulatory agencies have issued
regulations as mandated by the Act, except for the jointly issued
privacy regulations, the Act and its implementing regulations have
had little impact on our daily operations or the daily operations of
Security National Bank and, at this time, it is not possible to
predict the impact the Act and its implementing regulations may have
on us or Security National Bank.  As of the date of this filing, we
have not applied for or received approval to operate as a financial
holding company.  In addition, Security National Bank has not applied
for or received approval to establish any financial subsidiaries.
Less than 10% of all bank holding companies have elected to become
financial holding companies.

      Quantitative and Qualitative Disclosures About Market Risk.  Our
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 our decision on
pricing our assets and liabilities which impacts net interest income,
a significant cash flow source for us.  As a result, a substantial
portion of our risk management activities relates to managing
interest rate risk.

      Our Asset/Liability Management Committee monitors the interest
rate sensitivity of our balance sheet using earnings simulation
models and interest sensitivity GAP analysis.  We have set policy
limits of interest rate risk to be assumed in the normal course of
business and monitor such limits through our simulation process.

      We have been successful in meeting the interest rate sensitivity
objectives set forth in our policy.  Simulation models are prepared
to determine the impact on net interest income for the coming twelve
months, including one using rates at September 30, 2000 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 our net
interest income on a one year horizon as follows:


        Scenario         $ change in net          % of net int. income
                         interest income
 200 basis point rising        ($347,000)                (6.88%)
 200 basis point falling         424,000                  8.40%

      We believe that no significant changes in our interest rate
sensitivity position have occurred since September 30, 2000.  We also
believe we are appropriately positioned for future interest rate
movements, although we 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.  We intend 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 are generally identifiable by use of the words
'believe,' 'expect,' 'intend,' 'anticipate,' 'estimate,' 'project' or
similar expressions.  Our 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 our market area,
our implementation of new technologies, our ability to develop and
maintain secure and reliable electronic systems 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 us and our business, including additional
factors that could materially affect our financial results, is
included in our 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
           MNB  Bancshares,  Inc. 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

                A report on Form 8-K was filed on October 25, 2000 to
                report under Item 5, the issuance of a press release
                announcing our earnings for the quarter ended
                September 30, 2000 and our declaration of a cash
                dividend to our stockholders.


                              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:  November 13, 2000        __________________________________
                               /s/Patrick L. Alexander
                                  President and Chief Executive Officer



Date:  November 13, 2000        __________________________________
                               /s/Mark A. Herpich
                                  Vice President, Secretary, Treasurer
                                  and Chief Financial Officer