SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1*)
Chester Valley Bank Corp. Inc.
- -----------------------------------------
(Name of Issuer)
Common Stock
- -----------------------------------------
(Title of Class of Securities)
166335109
- -----------------------------------------
(CUSIP Number)
Check the following box if a fee is being
paid with this statement. [ ]
1. Name of Reporting Person(s) CoreStates
Financial Corp
SSN or IRS Identification
No (s) of Above Person(s) 23-1899716
2. Check the Appropriate Box
If a Member of a Group
(See Instructions) [ X ]
3. SEC Use Only
4. Citizenship or Place of
Organization Pennsylvania
Number of Shares Beneficially
Owned by Each Reporting Person with
5. Sole Voting Power 95,851
6. Shared Voting Power -0-
7. Sole Dispositive Power -0-
8. Shared Dispositive Power -0-
9. Aggregate Amount Beneficially
Owned by Each Reporting Person 95,851
10. Check if the Aggregate Amount
in Row 9 Excludes Certain Shares
(See Instructions)
11. Percent of Class Represented by
Amount in Row 9 5.8660%
12. Type of Reporting Person(s)
(See Instructions) HC-BK
Item 1.
(a) Name of Issuer Chester Valley Bank Corp. Inc.
(b) Address of Issuer's Principal Executive Offices
100 East Lancaster Avenue
Downington, PA 19335
Item 2.
(a) Name of Person Filing: CoreStates Financial Corp.
(b) Address of Principal Business Office or, if none,
Residence
Broad & Chestnut Streets
Philadelphia
(c) Citizenship Pennsylvania
(d) Title of Class of Securities
(e) CUSIP Number 775371107
Item 3. If this Statement is filed pursuant to Rules
13d-1(b)or 13d-2(b), check whether the person
filing is a:
(a) [ ] Broker or dealer registered under Section 15
of the Act.
(b) [ ] Bank as defined in Section 3(a)(6) of the
Act.
(c) [ ] Insurance Company as defined in Section
3(a)(19) of the Act.
(d) [ ] Investment Company registered under Section 8
of the Investment Company Act.
(e) [ ] Investment Adviser registered under Section
203 of the Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund, which is
subject to the provisions of the Employee
Retirement Income Securities Act of 1974, or
Endowment Fund.
(g) [X] Parent Holding Company, in accordance with
Section 240.13-1(b) (1) (ii) (H).
(h) [ ] Group, in accordance with Section
240.13d-1(b)(1) (ii) (H).
Item 4. Ownership
As of December 31, 1996, the reporting person
filing this statement through its wholly owned
subsidiary, CoreStates Bank, N.A., beneficially
owned the following amounts and percentages of
securities of the above named issuer:
(a) Amount Beneficially Owned 95,851
(b) Percent of Class 5.8660%
(c) Number of Shares as to which such person has
the:
(i) sole power to vote or to direct
the vote 95,851
(ii) shared power to vote or to
direct the vote -0-
(iii) sole power to dispose or to
direct the disposition of -0-
(iv) shared power to dispose or to
direct the disposition of -0-
Item 5. Ownership of Five Percent or Less
of a Class N/A
Item 6. Ownership of More then Five Percent on Behalf
of Another Person
CoreStates Bank, N.A., New Jersey National
Bank and Meridian Bank hold the options
reported above under various trust and
custodial arrangements.
Item 7. Identification and Classification of the
Subsidiary which Acquired the Security Being
Reported on By the Parent Holding Company
CoreStates Bank, N.A., a bank as defined
in Section 3(a) (6) of the Act.
Item 8. Identification and Classification
of Members of the Group N/A
Item 9. Notice of Dissolution of Group N/A
Item 10. Certification
By Signing below, I certify that, to the best of my
knowledge and belief, the securities referred to
above were acquired in the ordinary course of
business and were not acquired for the purpose of
and do not have effect of changing or influencing
the control of the issuer of participant in any
transaction have such purposes or effect.
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information
set forth in this statement is true, complete, and
correct.
Date: February 06, 1997
Dennis Haynes, Compliance Manager - VP
