U. S. SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549


                                   FORM 10-Q/A


                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended March 31, 1999



                       Commission file number - 000-21346


                             TRIANGLE BANCORP, INC.
             (Exact name of registrant as specified in its charter)


           North Carolina                                       56-1764546 
           --------------                                       ---------- 
  (State or other jurisdiction of                            (I.R.S. Employer
  incorporation or organization)                            Identification No.)


                              4300 Glenwood Avenue
                         Raleigh, North Carolina 27612 
                         ----------------------------- 
                    (Address of principal executive offices)
                                   (Zip Code)

                           Telephone: (919) 881-0455 
                           ------------------------- 
                         (Registrant's telephone number)

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 issuer's classes of
common stock, as of the latest practicable date.

         Common Stock                                   25,132,681
         ------------                                   ----------
             Class                               Outstanding at May 5, 1999

<PAGE>


                                    PART I - FINANCIAL INFORMATION

Part I, Item 2, Management's Discussion and Analyis, and Part II, Item 5, Other
Information, are being refiled to include "IMPACT OF YEAR 2000 ISSUE " with
Management's Discussion and Analysis and not as Other Information.

Item 2. Management's Discussion and Analysis of Financial Condition and Results
        of Operations.

         GENERAL

         The purpose of this discussion is to provide the reader with a concise
         understanding of the performance and financial condition of Triangle
         Bancorp, Inc. (the "Company"). The Company is a multibank holding
         company incorporated in November 1991 under the laws of the State of
         North Carolina, with four wholly-owned subsidiaries: Triangle Bank
         ("Triangle"); Bank of Mecklenburg ("Mecklenburg") (collectively, the
         "Banks"); Coastal Leasing LLC ("Coastal"); and Triangle Capital Trust.

         OPERATING RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 1999  AND 1998
         ---------------------------------------------------------------------

         The Company's net income for the three months ended March 31, 1999 was
         $6,602,000 compared to $5,382,000 for the same period in 1998, an
         increase of 23%. Diluted earnings per share were $0.26 for the three
         months ended March 31, 1999 compared to $0.21 per share for the same
         period in 1998. Excluding after-tax nonrecurring merger expenses in the
         first quarter of 1998, net income was $5,586,000 and diluted earnings
         per share were $.22.

         For the three months ended March 31, 1999, the annualized returns on
         average assets and equity were 1.27% and 16.08%, respectively, compared
         to 1.09% and 14.00%, respectively, for the same period in 1998.
         Excluding nonrecurring merger expenses in the first quarter of
         1998, the annualized returns on average assets and equity were 1.14%
         and 14.53%, respectively.

         Net taxable equivalent interest income for the three months ended March
         31, 1999 was $19,576,000 compared to $19,211,000 for the same period in
         1998, an increase of $365,000. Average earning assets increased $104
         million with loans increasing $109 million and investments declining by
         $5 million. While the volume of earning assets increased, the taxable
         equivalent yields declined due to the overall interest rate environment
         including the reduction in the prime based lending rate and accelerated
         mortgage prepayments on collateralized mortgage obligations in the
         investment portfolio. Average costing liabilities increased by $75
         million, with deposits growing $34 million, short-term debt increasing
         $94 million and FHLB advances declining $54 million. The increase in
         short-term debt is attributable to the Company being in a federal funds
         purchased position for much of the first quarter of 1999 as compared to
         1998. Also, reverse repurchase agreements were used as an alternative
         to higher priced deposits to fund loan growth. The cost of liabilities
         decreased when comparing the first quarter of 1999 to 1998, again due
         to the overall interest rate environment. The net taxable equivalent
         yield on interest earning assets decreased by 15 basis points to 4.08%
         for the quarter ended March 31, 1999 to 4.23% for the quarter ended
         March 31, 1998.
<PAGE>

         For the three months ended March 31, 1999, a loan loss provision of
         $1,315,000 was made compared to a provision of $1,451,000 for the same
         period in 1998. Net charge-offs to average loans for the quarter ended
         March 31, 1999 were .35% compared to .41% for the quarter ended March
         31, 1998.

         Noninterest income for the three months ended March 31, 1999 was
         $4,773,000 compared to $3,847,000 for the same period in 1998, an
         increase of $926,000 or 24%. An increase of $253,000 was seen in
         securities gains over 1998. Service charges on deposit accounts
         increased $147,000, with growth in activity charges and overdraft
         charges. Investment commissions and fees increased $176,000 due to
         increased volume at Triangle Investment Services. Other operating
         income increased $272,000 primarily due to income on bank owned life
         insurance purchased by the Company in the third quarter of 1998 and the
         first quarter of 1999.

         Recurring noninterest expenses decreased $271,000, or 2%, for the three
         months ended March 31, 1999 compared to the same period in 1998. The
         decrease is attributable to efficiencies achieved from two mergers in
         1998, Guaranty State Bancorp in April and United Federal Savings Bank
         in September. The primary areas of decreases were salaries and
         benefits, office expenses and other operating expenses. Furniture and
         equipment expense increased over 1998 due to the addition of a new main
         frame computer and operations facility late in the first quarter of
         1998.

         FINANCIAL CONDITION

         Total assets were $2.15 billion as of March 31, 1999, an increase of
         $31 million from December 31, 1998. Net loans grew $48 million to $1.4
         billion as of March 31, 1999 from December 31, 1998. The loan growth
         was funded by decreases in investments and cash as well as deposit
         growth. Additional bank owned life insurance was purchased in the first
         quarter of 1999 increasing other assets by $20 million over the
         December 31, 1998 balance.

         The Company continued to maintain strong loan and lease loss reserves
         during the period with a reserve balance of $19,682,000 at March 31,
         1999. Nonperforming assets increased slightly to $13 million at March
         31, 1999 from $12.7 million at December 31, 1998. The loan and lease
         loss reserves at March 31, 1999 were 1.37% of gross loans and leases
         and 176% of nonperforming and nonaccrual loans compared to 1.42% and
         184%, respectively, at December 31, 1998. Management feels loan and
         lease loss reserves are adequate. A summary of certain information
         related to the loan and loss reserves and nonperforming assets as of
         March 31, 1999 follows:
<PAGE>
         RESERVE FOR LOAN AND LEASE LOSSES AND NONPERFORMING ASSETS
                             (DOLLARS IN THOUSANDS)


ANALYSIS OF RESERVE FOR LOAN AND LEASE LOSSES:

Beginning balance, January 1, 1999                        $19,584
                                                          -------


Deduct charge-offs:
         Commercial financial and agricultural                947
         Real estate, construction and land development         0
         Installment loans to individuals                     413
         Credit card and related plans                          0
                                                          -------


                                                            1,360
                                                          -------
Add recoveries:
         Commercial, financial and agricultural                32
         Real estate, construction and land development         4
         Installment loans to individuals                     107
         Credit card and related plans                         00
                                                          -------
                                                              143
                                                          -------

Net charge-offs                                             1,217

Additions charged to operations                             1,315
                                                          -------

Ending balance, March 31, 1999                            $19,682
                                                          =======

Ratio of net charge-offs to average loans and
leases outstanding during the period                         0.35%

ANALYSIS OF NONPERFORMING ASSETS AT MARCH 31, 1999:
Nonaccrual loans:
         Commercial, financial and agricultural           $ 2,962
         Real estate, construction and land development     1,662
         Installment loans to individuals                      84
         Credit card and related plans                         00
                                                          -------
                                                            4,708

Loans contractually past due 90 days or more
     as to principal or interest                            6,470
Foreclosed assets                                           1,857
                                                          -------
TOTAL                                                     $13,035
                                                          =======
<PAGE>

         Total deposits were $1.7 billion at March 31, 1999, an increase of $56
         million from December 31, 1998. Significant growth in time deposits
         were offset somewhat by declines in noninterest bearing and interest
         bearing demand deposits. The growth in time deposits greater than
         $100,000 was the result of the Company implementing a program late in
         the fourth quarter of 1998 of accepting a limited amount of brokered
         deposits as an alternative to higher priced retail deposits.

         Short-term debt declined $29 million from December 31, 1998 to March
         31, 1999 with federal funds purchased decreasing $20 million,
         masternotes decreasing $5.5 million and repurchase agreements
         decreasing $3.5 million. Federal Home Loan Bank advances declined $5
         million at March 31, 1999 due to a maturity during the quarter.

         CAPITAL

         The adequacy of capital is reviewed regularly by the Company's
         management, in light of current plans and economic conditions, to
         ensure that sufficient capital is available for current and future
         needs, to minimize the Company's cost of capital and to assure
         compliance with regulatory requirements. The Company's capital ratios
         as of March 31, 1999 were as follows:


                                                     ACTUAL   REQUIRED EXCESS
                                                     PERCENT  PERCENT  PERCENT
                                                     -------  -------  -------

         Tier 1   Capital to Risked Based Assets      9.97%    4.00%   5.97%
                                                              
         Total   Capital to Risked Based Assets      11.15%    8.00%   3.15%
                                                              
         Leverage Ratio                               8.09%    4.00%   4.09%
                                                            

         IMPACT OF YEAR 2000 ISSUE

         The Year 2000 Issue is the result of computer programs being written
         using two digits rather than four to define the applicable year. As a
         result, many automated applications may fail to function properly or
         may cease to function unless corrected or replaced.

         The Company is a "turnkey" institution; it does not write or develop
         any of its own computer applications, but instead purchases or licenses
         its applications from third party vendors. The Company has adopted a
         plan which calls for the Company's applications to properly process
         dates in the Year 2000 and beyond by April 30, 1999. As a "turnkey"
         institution, the Company is in dialogue with all of its vendors as to
         their preparedness for Year 2000. In addition, the Company has hired an
         independent consultant to assist it in all phases of its Year 2000
         plan.


<PAGE>



         In 1998, the Company completed its assessment of its existing computer
         systems and applications and had identified 30 mission critical
         applications. As of March 31, 1999, the Company had completed
         renovation, validation and implementation of all but four of its
         mission critical and three of its non-mission critical applications.
         Validation and implementation of all existing functions, both mission
         critical and non-mission critical, are expected to be completed by May
         31, 1999. Since its original assessment, the Company has added four new
         applications, all of which have been scheduled for renovation and
         validation which is expected to be completed by July 31, 1999. As
         validation of a function occurs, the Company will develop a contingency
         plan for each function. As of March 31, 1999 the Company had begun
         contingency planning for all functions, which plan is to be completed
         by June 30, 1999.

         The Company has budgeted $1,000,000 for the Year 2000 plan, with
         approximately $50,000 for 1997, $750,000 for 1998 and $200,000 for
         1999. The Company spent approximately $40,000 and $614,000 in 1997 and
         1998, respectively, on Year 2000 issues. The amount spent on Year 2000
         issues in the quarter ended March 31, 1999 was $94,000. The Company
         does not expect the costs of this process to be material to its
         financial condition or results of operations.

         Based on information now available, the Company anticipates its systems
         will properly process dates in the year 2000 and beyond.




<PAGE>



                           PART II - OTHER INFORMATION


Item 5. Other Information

         Not applicable.









<PAGE>





                                   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.

                                                     TRIANGLE BANCORP, INC.



Date:  May  20, 1999                                 /s/ Debra L. Lee
                                                     ---------------------------
                                                     Debra L. Lee,
                                                     EVP/Chief Financial Officer