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

                                 FORM 10-QSB/A

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

                For the quarterly period ended September 30, 1996
                                    OR
            [  ] transition report UNDER section 13 or 15(d) of the
                       securities exchange act of 1934
                 For the transition period from __________to __________
                         Commission file number  0-21554

                            DENMARK BANCSHARES, INC.
         (Exact NAME OF SMALL BUSINESS ISSUER AS SPECIFIED IN ITS CHARTER)

               Wisconsin                               39-1472124
    (State or other jurisdiction of     (I.R.S. Employer Identification No.)
     incorporation or organization)                                            
              103 East Main Street, Denmark, Wisconsin  54208-0130
                     (Address of principal executive offices)

                                   (414) 863-2161
                             (Issuer's telephone number)

 ___________________________________________________________________________
 (Former name, address and former fiscal year, if changed since last report)

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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 ___ 

               APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                  PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Check whether the registrant (1) has filed all documents and reports required to
be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution
of securities under a plan confirmed by a court.

Yes ___  No ___  
                     APPLICABLE ONLY TO CORPORATE ISSUERS:

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date.
                                               Outstanding at
         Class                                October 31, 1996

      Common Stock                                 27,500
      (no par value)
                                        

                             Denmark Bancshares, Inc.
                        Quarterly Report On Form 10-QSB/A
                     For The Quarter Ended September 30, 1996


Part II.  Other Information
            Item 6. Exhibits
               A. Exhibit 27 -- Financial Data Schedule



                                   Signatures



In accordance with the requirements of the Exchange Act, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                            
                              DENMARK BANCSHARES, INC.

 Date:    October 31, 1996    /s/ Darrell R. Lemmens
                              Darrell R. Lemmens,
                              Principal Executive Officer,
                              Chairman of the Board,
                              and President


 Date:    October 31, 1996    /s/ Dennis J.Heim
                              Dennis J. Heim,
                              Vice President and Treasurer,
                              Principal Financial and
                              Accounting Officer