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 June 30, 1998

OR

0			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 August 13, 1998, 
the Registrant had outstanding 1,299,386 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			          1-6
Item 2.		Management's Discussion and Analysis of Financial 
     		  Condition and Results of Operations			             7-12
Item 3.		Quantitative and Qualitative Disclosures about
		       Market Risk	                                 						12-13


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			               	15


       		Form 10-Q Signature Page             			          	15







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

<CAPTION>

                                                    June 30,      December 31,
                                                    1998          1997
                                                    (Unaudited)

<S>                                                   <C>                <C>
ASSETS

Cash and cash equivalents:

Cash                                                $4,095,934       $3,398,451 

Interest-bearing deposits 
in other financial institutions                      1,300,000        3,300,000 



Total cash and cash equivalents                      5,395,934        6,698,451 
Investment securities:
Held to maturity at amortized cost (estimated fair
value of $2,559,000 and $6,692,000 respectively)     2,684,507        6,669,809 
Available-for-sale at estimated fair value          43,923,150       35,409,475 
Loans, net                                          78,817,709       88,724,128 
Premises and equipment, net                          2,265,725        2,597,658 
Other assets                                         4,232,581        4,652,570 
Total assets                                     $ 137,319,606    $ 144,752,091 

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Deposits                                         $ 114,474,878    $ 122,208,537 
Other borrowings                                     8,390,360        9,099,379 
Accrued expenses, taxes and other liabilities        1,696,807        1,168,326 


</TABLE>