<PAGE>   1
                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

Mark One

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

             For the quarterly period ended    SEPTEMBER 30, 1999
                                             ----------------------

[ ]   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

             For the transition period from            to
                                            ----------     ----------

                        COMMISSION FILE NUMBER: 333-19081

                                GBC Bancorp, Inc.
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

           Georgia                                           58-2265327
-------------------------------                          ------------------
(State or other jurisdiction of                            (IRS Employer
incorporation or organization)                           Identification No.)

                  165 NASH STREET, LAWRENCEVILLE, GEORGIA 30045
                  ---------------------------------------------
                    (Address of principal executive offices)

                                 (770) 995-0000
                           ---------------------------
                           (Issuer's telephone number)

                                       N/A
   --------------------------------------------------------------------------
   (Former name, former 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 filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by 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 November 1, 1999: 950,080; $1 par value

Transitional Small Business Disclosure Format (Check One)   Yes [ ]     No [X]



<PAGE>   2


                        GBC BANCORP, INC. AND SUBSIDIARY





--------------------------------------------------------------------------------

                                      INDEX


<TABLE>
<CAPTION>
                                                                                             PAGE
                                                                                             ----
<S>      <C>                                                                                 <C>
PART I.  FINANCIAL INFORMATION

         ITEM 1.  FINANCIAL STATEMENTS

            CONSOLIDATED BALANCE SHEET - SEPTEMBER 30, 1999....................................3

            CONSOLIDATED STATEMENTS OF OPERATIONS AND
             COMPREHENSIVE INCOME (LOSS) - THREE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998
             AND NINE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998.................................4

            CONSOLIDATED STATEMENTS OF CASH FLOWS - NINE
             MONTHS ENDED SEPTEMBER 30, 1999 AND 1998..........................................5

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.........................................6

         ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                       FINANCIAL CONDITION AND RESULTS OF OPERATIONS...........................7


PART II. OTHER INFORMATION

         ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K............................................15

         SIGNATURES...........................................................................16
</TABLE>




                                       2
<PAGE>   3



                         PART I - FINANCIAL INFORMATION
                              FINANCIAL STATEMENTS

                        GBC BANCORP, INC. AND SUBSIDIARY

                           CONSOLIDATED BALANCE SHEET
                               SEPTEMBER 30, 1999
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                        ASSETS

<S>                                                             <C>
Cash and due from banks                                         $  2,192,632
Federal funds sold                                                 7,210,000
Securities available-for-sale, at fair value                       6,906,305

Loans                                                             36,366,883
Less allowance for loan losses                                       552,603
                                                                ------------
        Loans, net                                                35,814,280

Premises and equipment                                               529,445
Other assets                                                         408,529
                                                                ------------

        TOTAL ASSETS                                            $ 53,061,191
                                                                ============


                LIABILITIES AND STOCKHOLDERS' EQUITY

DEPOSITS
  Demand                                                        $  7,582,232
  Interest-bearing demand                                          8,418,277
  Savings                                                          3,898,949
  Time                                                            24,757,998
                                                                ------------
        TOTAL DEPOSITS                                            44,657,456
Other liabilities                                                    211,349
                                                                ------------
        TOTAL LIABILITIES                                         44,868,805
                                                                ------------

COMMITMENTS AND CONTINGENT LIABILITIES

STOCKHOLDERS' EQUITY
  Common stock, par value $1; 3,000,000 shares authorized;
    950,080 shares issued and outstanding                            950,080
  Capital surplus                                                  8,526,827
  Accumulated deficit                                             (1,095,333)
  Accumulated other comprehensive loss                              (189,188)
                                                                ------------
        TOTAL STOCKHOLDERS' EQUITY                                 8,192,386
                                                                ------------

        TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY              $ 53,061,191
                                                                ============
</TABLE>

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.




                                        3
<PAGE>   4

                        GBC BANCORP, INC. AND SUBSIDIARY

      CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
               THREE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998 AND
                  NINE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                  THREE MONTHS ENDED                      NINE MONTHS ENDED
                                                                     SEPTEMBER 30,                          SEPTEMBER 30,
                                                            ------------------------------          -------------------------------
                                                               1999                1998                1999                 1998
                                                            -----------         -----------         -----------         -----------
<S>                                                         <C>                 <C>                 <C>                 <C>
INTEREST INCOME
   Loans                                                    $ 1,070,573         $   634,988         $ 2,811,722         $ 1,236,699
   Taxable securities                                            99,564              60,824             224,559             144,413
   Federal funds sold                                            61,803              59,657             145,403             336,030
                                                            -----------         -----------         -----------         -----------
           TOTAL INTEREST INCOME                              1,231,940             755,469           3,181,684           1,717,142
                                                            -----------         -----------         -----------         -----------


INTEREST EXPENSE ON DEPOSITS                                    405,371             178,829             978,801             413,737
                                                            -----------         -----------         -----------         -----------

           NET INTEREST INCOME                                  826,569             576,640           2,202,883           1,303,405
PROVISION FOR LOAN LOSSES                                        63,200             111,554             187,621             279,240
                                                            -----------         -----------         -----------         -----------
           NET INTEREST INCOME AFTER
            PROVISION FOR LOAN LOSSES                           763,369             465,086           2,015,262           1,024,165
                                                            -----------         -----------         -----------         -----------

OTHER OPERATING INCOME                                           36,807               9,675             135,866              17,965
                                                            -----------         -----------         -----------         -----------

OTHER EXPENSES
   Salaries and employee benefits                               316,273             283,200             949,924             818,284
   Equipment and occupancy expenses                             160,732              79,062             472,121             220,052
   Other operating expenses                                     132,300             143,733             390,216             345,189
                                                            -----------         -----------         -----------         -----------
                                                                609,305             505,995           1,812,261           1,383,525
                                                            -----------         -----------         -----------         -----------

           NET INCOME (LOSS) BEFORE INCOME TAXES                190,871             (31,234)            338,867            (341,395)

INCOME TAX EXPENSE                                                   --                  --                  --                  --
                                                            -----------         -----------         -----------         -----------

           NET INCOME (LOSS)                                    190,871             (31,234)            338,867            (341,395)
                                                            -----------         -----------         -----------         -----------

OTHER COMPREHENSIVE INCOME (LOSS):
   Unrealized gains (losses) on securities
    available-for-sale arising during period                    (55,152)             13,140            (200,747)             14,251
                                                            -----------         -----------         -----------         -----------

           COMPREHENSIVE INCOME (LOSS)                      $   135,719         $   (18,094)        $   138,120         $  (327,144)
                                                            ===========         ===========         ===========         ===========

BASIC AND DILUTED EARNINGS (LOSSES) PER COMMON SHARE        $      0.36         $     (0.03)        $      0.36         $     (0.36)
                                                            ===========         ===========         ===========         ===========

WEIGHTED AVERAGE SHARES OUTSTANDING
   (BASIC AND DILUTED)                                      $   950,080         $   950,080         $   950,080         $   950,080
                                                            ===========         ===========         ===========         ===========

CASH DIVIDENDS PER SHARE OF COMMON STOCK                    $        --         $        --         $        --         $        --
                                                            ===========         ===========         ===========         ===========
</TABLE>

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.



                                       4
<PAGE>   5

                        GBC BANCORP, INC. AND SUBSIDIARY

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                  NINE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                              1999                 1998
                                                                         ------------         ------------
<S>                                                                      <C>                  <C>
OPERATING ACTIVITIES
  Net income (loss)                                                      $    338,867         $   (341,395)
  Adjustments to reconcile net income (loss) to net
    cash provided by operating activities:
    Depreciation and amortization                                             158,023               96,935
    Provision for loan losses                                                 187,621              279,240
    Increase in interest receivable                                           (98,269)            (136,089)
    Increase in interest payable                                                9,638              125,193
    Other operating activities                                                (74,668)              50,241
                                                                         ------------         ------------

       Net cash provided by operating activities                              521,212               74,125
                                                                         ------------         ------------

INVESTING ACTIVITIES
  Purchases of securities available-for-sale                               (6,598,532)          (3,996,894)
  Proceeds from maturities of securities available-for-sale                 3,500,000                    -
  Net (increase) decrease in Federal funds sold                            (4,470,000)           5,730,000
  Net increase in loans                                                   (11,934,721)         (18,545,918)
  Purchase of premises and equipment                                          (75,302)            (355,656)
                                                                         ------------         ------------

       Net cash used in investing activities                              (19,578,555)         (17,168,468)
                                                                         ------------         ------------

FINANCING ACTIVITIES
  Net increase in deposits                                                 19,649,929           17,608,669
                                                                         ------------         ------------

       Net cash provided by financing activities                           19,649,929           17,608,669
                                                                         ------------         ------------

Net increase in cash and due from banks                                       592,586              514,326

Cash and due from banks at beginning of period                              1,600,046              959,117
                                                                         ------------         ------------

Cash and due from banks at end of period                                 $  2,192,632         $  1,473,443
                                                                         ============         ============

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

       Cash paid for interest                                            $    969,163         $    288,544

NONCASH TRANSACTION
       Unrealized (gains) losses on securities available-for-sale        $    200,747         $    (14,251)
</TABLE>


SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.



                                       5
<PAGE>   6



                        GBC BANCORP, INC. AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)




NOTE 1.  NATURE OF BUSINESS AND BASIS OF PRESENTATION


         The consolidated financial information included herein is unaudited;
         however, such information reflects all adjustments (consisting solely
         of normal recurring adjustments) which are, in the opinion of
         management, necessary for a fair statement of results for the interim
         period.

         The results of operations for the nine month period ended September 30,
         1999 are not necessarily indicative of the results to be expected for
         the full year.


NOTE 2.  CURRENT ACCOUNTING DEVELOPMENTS

         In June 1998, the Financial Accounting Standards Board issued SFAS No.
         133, "Accounting for Derivative Instruments and Hedging Activities".
         The effective date of this statement has been deferred by SFAS No. 137
         until fiscal years beginning after June 15, 2000. However, the
         statement permits early adoption as of the beginning of any fiscal
         quarter after its issuance. The Company expects to adopt this statement
         effective January 1, 2001. SFAS No. 133 requires the Company to
         recognize all derivatives as either assets or liabilities in the
         balance sheet at fair value. For derivatives that are not designated as
         hedges, the gain or loss must be recognized in earnings in the period
         of change. For derivatives that are designated as hedges, changes in
         the fair value of the hedged assets, liabilities, or firm commitments
         must be recognized in earnings or recognized in other comprehensive
         income until the hedged item is recognized in earnings, depending on
         the nature of the hedge. The ineffective portion of a derivative's
         change in fair value must be recognized in earnings immediately.
         Management does not believe the adoption of SFAS No. 133 will have a
         material effect on the Company's earnings or financial position.

         There are no other recent accounting pronouncements that have had, or
         are expected to have, a material effect on the Company's financial
         statements.




                                       6
<PAGE>   7




                        GBC BANCORP, INC. AND SUBSIDIARY


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

         The following is management's discussion and analysis of certain
         significant factors which have affected the financial position and
         operating results of the Company and its bank subsidiary, Gwinnett
         Banking Company (the "Bank"), during the periods included in the
         accompanying consolidated financial statements.

         FORWARD-LOOKING STATEMENTS

         The Company may from time to time make written or oral forward-looking
         statements, including statements contained in the Company's filings
         with the Securities and Exchange Commission and its reports to
         stockholders. Statements made, other than those concerning historical
         information, should be considered forward-looking and subject to
         various risks and uncertainties. Such forward-looking statements are
         made based upon management's belief as well as assumptions made by, and
         information currently available to, management pursuant to "safe
         harbor" provisions of the Private Securities Litigation Reform Act of
         1995. The Company's actual results may differ materially from the
         results anticipated in forward-looking statements due to a variety of
         factors, including governmental monetary and fiscal policies, deposit
         levels, loan demand, loan collateral values, securities portfolio
         values, interest rate risk management; the effects of competition in
         the banking business from other commercial banks, thrifts, mortgage
         banking firms, consumer finance companies, credit unions, securities
         brokerage firms, insurance companies, money market funds and other
         financial institutions operating in the Company's market area and
         elsewhere, including institutions operating through the Internet,
         changes in governmental regulation relating to the banking industry,
         including regulations relating to branching and acquisitions, failure
         of assumptions underlying the establishment of reserves for loan
         losses, including the value of collateral underlying delinquent loans
         and other factors. The Company cautions that such factors are not
         exclusive. The Company does not undertake to update any forward-looking
         statement that may be made from time to time by, or on behalf of, the
         Company.

         LIQUIDITY AND CAPITAL RESOURCES

         As of September 30, 1999, the liquidity ratio of the Bank, as
         determined under guidelines established by regulatory authorities, was
         satisfactory.



                                       7
<PAGE>   8



         As of September 30, 1999, the capital ratios of the Company and the
         Bank were adequate based on regulatory minimum capital requirements.
         The minimum capital requirements and the actual capital ratios for the
         Company and the Bank are as follows:

<TABLE>
<CAPTION>
                                                                     ACTUAL
                                                           -------------------------
                                                              GBC          GWINNETT
                                                            BANCORP,        BANKING         REGULATORY
                                                              INC.          COMPANY         REQUIREMENT
                                                           ---------       --------         -----------
             <S>                                           <C>             <C>               <C>
             Leverage capital ratios                           17.23%         16.25%               4.00%
             Risk-based capital ratios:
                Core capital                                   21.42          20.21                4.00
                Total capital                                  22.67          21.46                8.00
</TABLE>

         As the Company continues to grow, the capital ratios will decrease
         rapidly during the next twelve months to levels closer to, but still in
         excess of, regulatory minimum requirements.





                                       8
<PAGE>   9




FINANCIAL CONDITION

Following is a summary of the Company's balance sheets for the periods
indicated:

<TABLE>
<CAPTION>
                            SEPTEMBER 30,  DECEMBER 31,
                                 1999          1998          INCREASE (DECREASE)
                            -------------  ------------      -------------------
                               (DOLLARS IN THOUSANDS)         AMOUNT     PERCENT
                            ---------------------------      --------    -------
<S>                          <C>            <C>              <C>         <C>
Cash and due from banks        $ 2,193        $ 1,600        $    593      37.06%
Federal funds sold               7,210          2,740           4,470     163.14
Securities                       6,906          4,009           2,897      72.26
Loans, net                      35,814         24,067          11,747      48.81
Premises and equipment             529            612             (83)    (13.56)
Other assets                       409            297             112      37.71
                               -------        -------        --------
                               $53,061        $33,325        $ 19,736      59.22
                               =======        =======        ========

Deposits                       $44,658        $25,008        $ 19,650      78.57%
Other liabilities                  211            263             (52)    (19.77)
Stockholders' equity             8,192          8,054             138       1.71
                               -------        -------        --------
                               $53,061        $33,325        $ 19,736      59.22
                               =======        =======        ========
</TABLE>


As indicated in the above table, the Company's total assets grew at a rate of
59.22%. This high rate of growth is not uncommon for a de novo bank. Significant
deposit growth of $19,650,000 has been invested in loans, Federal funds sold,
and securities. Although the Company's loan to deposit ratio has decreased from
97.73% at December 31, 1998 to 81.44% at September 30, 1999, overall loan growth
has increased significantly, indicating strong loan demand and deposit growth in
the Company's primary market area of Gwinnett County, Georgia.





                                       9
<PAGE>   10



RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998 AND
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998

Following is a summary of the Company's operations for the periods indicated.

<TABLE>
<CAPTION>
                                           THREE MONTHS ENDED
                                              SEPTEMBER 30,
                                        ----------------------
                                          1999           1998           INCREASE (DECREASE)
                                        --------       -------       -------------------------
                                        (DOLLARS IN THOUSANDS)        AMOUNT           PERCENT
                                        ----------------------       -------           -------

         <S>                            <C>             <C>          <C>               <C>
         Interest income                $  1,232        $ 755         $ 477              63.18%
         Interest expense                    405          179           226             126.26
         Net interest income                 827          576           251              43.58
         Provision for loan losses            63          111           (48)            (43.24)
         Other income                         37           10            27             270.00
         Other expense                       610          506           104              20.55
         Net income (loss)                   191          (31)          222             716.13
</TABLE>


<TABLE>
<CAPTION>
                                            NINE MONTHS ENDED
                                              SEPTEMBER 30,
                                        ----------------------
                                          1999           1998           INCREASE (DECREASE)
                                        --------       -------       -------------------------
                                        (DOLLARS IN THOUSANDS)        AMOUNT           PERCENT
                                        ----------------------       -------           -------

         <S>                            <C>            <C>           <C>               <C>
         Interest income                $ 3,182        $ 1,717       $ 1,465             85.32%
         Interest expense                   979            414           565            136.47
         Net interest income              2,203          1,303           900             69.07
         Provision for loan losses          188            279           (91)           (32.62)
         Other income                       136             18           118            655.56
         Other expense                    1,812          1,383           429             31.02
         Net income (loss)                  339           (341)          680            199.41
</TABLE>

The Company's net interest income increased by $251,000 and $900,000 for the
third quarter and first nine months of 1999, respectively, as compared to the
same periods in 1998. The Company's net interest margin decreased to 7.36%
during the first nine months of 1999 as compared to 7.76% for the previous year.
The increase in net interest income is due primarily to the increased volume of
average loans and related loan fees. The decrease in net interest margin is due
to deposit growth beginning to outpace loan growth with the excess deposit
growth being invested in lower yielding securities and Federal funds sold.



                                       10
<PAGE>   11


The provision for loan losses decreased by $48,000 and $91,000 for the third
quarter and first nine months of 1999, respectively, as compared to the same
periods in 1998. The decreases are due solely to a slower rate of loan growth.
The Company's allowance for loan losses amounted to 1.52% at September 30, 1999
as compared to 1.53% at December 31, 1998. The allowance for loan losses is
maintained at a level that is deemed appropriate by management to adequately
cover all known and inherent risks in the loan portfolio. Management's
evaluation of the loan portfolio includes a continuing review of loan loss
experience, current economic conditions which may affect the borrower's ability
to repay and the underlying collateral value.

Information with respect to nonaccrual, past due and restructured loans at
September 30, 1999 and 1998 is as follows:

<TABLE>
<CAPTION>
                                                                                         SEPTEMBER 30,
                                                                                    ------------------------
                                                                                      1999            1998
                                                                                    --------        --------
                                                                                     (DOLLARS IN THOUSANDS)
                                                                                    ------------------------
<S>                                                                                 <C>             <C>
Nonaccrual loans                                                                    $     0         $    0
Loans contractually past due ninety days or more as to interest
   or principal payments and still accruing                                               0              0
Restructured loans                                                                        0              0
Loans, now current about which there are serious doubts as to the
   ability of the borrower to comply with loan repayment terms                            0              0
Interest income that would have been recorded on nonaccrual
   and restructured loans under original terms                                            0              0
Interest income that was recorded on nonaccrual and restructured loans                    0              0
</TABLE>

It is the policy of the Bank to discontinue the accrual of interest income when,
in the opinion of management, collection of such interest becomes doubtful. This
status is accorded such interest when (1) there is a significant deterioration
in the financial condition of the borrower and full repayment of principal and
interest is not expected and (2) the principal or interest is more than ninety
days past due, unless the loan is both well-secured and in the process of
collection.

Loans classified for regulatory purposes as loss, doubtful, substandard, or
special mention that have not been included in the table above do not represent
or result from trends or uncertainties which management reasonably expects will
materially impact future operating results, liquidity, or capital resources.
These classified loans do not represent material credits about which management
is aware of any information which causes management to have serious doubts as to
the ability of such borrowers to comply with the loan repayment terms.





                                       11
<PAGE>   12



Information regarding certain loans and allowance for loan loss data through
September 30, 1999 and 1998 is as follows:

<TABLE>
<CAPTION>
                                                                               NINE MONTHS ENDED
                                                                                 SEPTEMBER 30,
                                                                            -----------------------
                                                                              1999           1998
                                                                            -------         -------
                                                                             (DOLLARS IN THOUSANDS)
                                                                            -----------------------

         <S>                                                                <C>             <C>
         Average amount of loans outstanding                                $31,126         $10,744
                                                                            =======         =======

         Balance of allowance for loan losses at beginning of period        $   373         $    29
                                                                            -------         -------

         Loans charged off
            Commercial and financial                                        $    --         $    --
            Real estate mortgage                                                 --              --
            Instalment                                                           --              --
            Other                                                                 8              --
                                                                            -------         -------
                                                                                  8              --
                                                                            -------         -------

         Loans recovered
            Commercial and financial                                             --              --
            Real estate mortgage                                                 --              --
            Instalment                                                           --              --
                                                                            -------         -------
            Other                                                                --              --
                                                                            -------         -------

         Net charge-offs                                                          8              --
                                                                            -------         -------

         Additions to allowance charged to
            operating expense during period                                     188             279
                                                                            -------         -------

         Balance of allowance for loan losses at end of period              $   553         $   308
                                                                            =======         =======

         Ratio of net loans charged off during the period to
            average loans outstanding                                           .03%             --
                                                                            =======         =======
</TABLE>


Other income increased by $27,000 and $118,000 for the third quarter and first
nine months of 1999, respectively, as compared to the same periods in 1998,
primarily due to service charges on deposit accounts and mortgage loan fees.





                                       12
<PAGE>   13

Other expenses increased $104,000 and $429,000 for the third quarter and first
nine months of 1999, respectively, as compared to the same periods in 1998.
Salaries and employee benefits have increased by $17,000 and $132,000 during
these periods due to normal salary increases. Equipment and occupancy expenses
have increased by $113,000 and $252,000 during these periods due to the
occupation of new banking facilities in the latter part of 1998 and the related
rental and other occupancy costs.

The Company has recorded no provision for income taxes due to cumulative net
operating losses.

YEAR 2000 DISCLOSURES

The Year 2000 issue is the result of computer programs being written using two
digits rather than four to define the applicable year. Systems that do not
properly recognize the Year 2000 could generate erroneous data or cause systems
to fail. The Company is heavily dependent on computer processing and
telecommunication systems in the daily conduct of business activities. In
addition, the Company must rely on intermediaries, vendors, and customers to
appropriately modify their systems in order that all may continue normal
operations and operate without significant disruption.

To address the Year 2000 problems, the Company formed a Year 2000 committee made
up of key employees headed up by the Chief Operations Officer. This committee
has been charged with the responsibility of assessing problems, overseeing
corrective actions, as well as testing the Year 2000 readiness of all equipment,
software, and applications.

Under the directions of the committee, the Company has conducted a comprehensive
review of its computer systems, programs, applications, and other electronic
components. The systems and components which were identified as mission critical
have been tested to insure Year 2000 compliance. In addition, the Company has
developed a contingency plan to insure Year 2000 risks are minimal. Based on
these reviews and tests, management does not believe the cost of Year 2000
compliance will be material to the Company's financial statements. Management
also believes that the Company is in substantial compliance with regulatory
timetable requirements regarding the Year 2000 issue.

Another area of Year 2000 concern is customer awareness and preparedness. In
particular, loan customers who are not Year 2000 compliant could experience
business interruptions which could affect their ability to repay debts owed to
the Bank. The Company has communicated with its customers in an effort to insure
awareness and understand the potential impact on their business. Loan customers
considered to have Year 2000 exposure are being required to complete a
questionnaire in order to assess their Year 2000 readiness and the Company's
exposure.

The Company realizes that due to many factors, consumers may withdraw extra
amounts of money which could result in a liquidity issue for the Company.
Additional liquidity has been established to accommodate this issue. Cash
balances will be closely monitored throughout 1999, with extra emphasis placed
during the fourth quarter, to insure adequate liquidity.



                                       13
<PAGE>   14


The foregoing are forward-looking statements reflecting management's current
assessment and estimates with respect to the Company's Year 2000 compliance
efforts and the impact of Year 2000 issues on the Company's business and
operations. Various factors could cause actual plans and results to differ
materially from those contemplated by such assessments, estimates, and
forward-looking statements, many of which are beyond the control of the Company.
Some of these factors include, but are not limited to representations made by
the Company's vendors and counterparties, technological advances, economic
considerations, and consumer perceptions. The Company's Year 2000 compliance
program is an ongoing process involving continual evaluation and may be subject
to change in response to new developments.




















                                       14
<PAGE>   15




                           PART II - OTHER INFORMATION





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

         (a)     Exhibits.

                 27.      Financial Data Schedule (for SEC use only).

         (b)     Reports on Form 8-K.

                 None.




















                                       15
<PAGE>   16



                                   SIGNATURES




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


                               GBC BANCORP, INC.
                                   (Registrant)




DATE:  November 12, 1999       BY:  /s/ Larry D. Key
       -----------------            ------------------------------------
                                    Larry D. Key, President and Chief
                                    Executive Officer


DATE: November 12, 1999        BY: /s/ John Hopkins
      -----------------            --------------------------------------
                                   John Hopkins, Chief Financial Officer







                                       16