MECH FINANCIAL INC
8-K, 1998-04-27
SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED
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                      SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC 20549
                        ______________________________

                                   FORM 8-K

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

Date of Report: April 24, 1998


MECH FINANCIAL, INC.
Exact name of registrant as specified in its charter

STATE OF CONNECTICUT             000-23557              06-1500984
- -----------------------------------------------------------------------
State or other jurisdiction    Commission File         IRS Employer
of Incorporation                   Number           Identification No.
 

100 PEARL STREET
HARTFORD, CT                                               06103
- -----------------------------------------------------------------------
Address of principal executive offices                   (Zip Code)


Registrant's phone number:  (860) 293-4000
<PAGE>
 
                                    ITEM 5.
                                 OTHER EVENTS
                                        
The Board of Directors of MECH Financial, Inc. (NASDAQ:  MECH), the bank holding
company for Mechanics Savings Bank, declared its first quarterly dividend on
April 21, 1998 of $0.15 per share on its common stock. The dividend will be
payable on May 15, 1998 to shareholders of record on May 1, 1998.  This is the
first dividend the Company will pay since converting from a mutual bank to a
stock bank on June 25, 1996.

Mechanics Savings Bank is a Connecticut-chartered savings bank with total assets
of $946 million as of  March 31, 1998.


                                  Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused the report to be signed on its behalf by the undersigned
hereunto duly authorized.

                                    MECH Financial, Inc.
                                    -------------------------------------
                                    Registrant           


Date: April 24, 1998                By: /s/ Thomas M. Wood
      --------------                    ---------------------------------
                                        Thomas M. Wood, Executive Vice
                                        and Treasurer


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